Vietnam Business News

---

• Vietnam gold price declines; dollars cool down on Oct. 6th afternoon
• $32.4m deposited for Mong Duong 2 thermo power project
• Vietnam central bank continues to raise interbank FX rate to 20653 dong/dollar
• VNDirect tops brokerage market share on HNX in Q3
• Vietnam central bank raises re-financing rate to 15pct/year
• State Audit’s role vital for budget planning: seminar
• Banks finding hard to achieve profit targets
• TrustBank offers soft loans for exporters
• Sacombank holding bank gains 2.174tr dong profit in Jan-Sept.
• Banking restructuring via M&A, not an easy task: Expert

Vietnam gold price declines; dollars cool down on Oct. 6th afternoon Posted: 06 Oct 2011 11:54 PM PDT The price of gold in Vietnam retreated to near 44 million dong a tael (1.2 ounces) on October 6 despite the fact that global price strongly recovered after sinking to $1,600 an ounce. Sacombank Jewelry Company bought gold at 43.71 million dong and sold at 44.14 million dong at 11:20 am local time. Saigon Jewelry [...]

$32.4m deposited for Mong Duong 2 thermo power project Posted: 06 Oct 2011 11:51 PM PDT The investor of Mong Duong 2 thermo power plant project (in the northern province of Quang Ninh), which is invested in the form of construction-operate-transfer (BOT), has recently paid $32.4 million deposit to the Ministry of Industry and Trade (MoIT) to ensure the implementation of the project. Mong Duong 2 thermo power plant project has [...]

Vietnam central bank continues to raise interbank FX rate to 20653 dong/dollar Posted: 06 Oct 2011 11:50 PM PDT The State Bank of Vietnam (SBV), the country's central bank on Friday October 7 continued to increase the interbank average exchange rate to 20,653 dong US dollar, an increase of 5 dong compared to yesterday. Thus, the inter-bank exchange rate has been raised for three consecutive days, posting a total increase of 25 dong, the [...]

VNDirect tops brokerage market share on HNX in Q3 Posted: 06 Oct 2011 11:50 PM PDT Hanoi Stock Exchange (HNX) has recently released the list of top ten securities companies with the biggest brokerage market shares on the northern bourse in the third quarter (Q3) this year. Accordingly, the brokerage market share of Thang Long Securities Joint Stock Co (TLS) decreased nearly 3%, dropping from the first place in Q2 to [...]

Vietnam central bank raises re-financing rate to 15pct/year Posted: 06 Oct 2011 11:49 PM PDT The State Bank of Vietnam (SBV) issued Decision No. 2210/QD-NHNN on refinancing interest rate, and overnight loan rate in the inter-bank electronic payment and applicable to loans for offsetting capital deficit in the clearing payment of the central bank for commercial banks. Accordingly, the refinancing rate was increased from 14% per year to 15% per [...]

State Audit’s role vital for budget planning: seminar Posted: 06 Oct 2011 11:48 PM PDT The State Audit of Vietnam must bolster its capacity in supervising the annual State Budget estimates, as both budgetary collection and expenditure are not yet fine-tuned to practical conditions, officials said at a seminar in Hanoi on Tuesday. The auditing agency's deputy head Le Hoang Quan told the seminar that budgetary estimates had not been [...]

Banks finding hard to achieve profit targets Posted: 06 Oct 2011 11:48 PM PDT Not only small banks, even some large banks also admitted that they are finding it rather hard to achieve the profit target for this year, VietBiz24.com reported on Friday. In the January-August business report, pre-tax profit of Orient Commercial Bank (OCB) was estimated at only 225 billion dong, while its profit target for the whole [...]

TrustBank offers soft loans for exporters Posted: 06 Oct 2011 11:48 PM PDT Dai Tin (Great Trust) Commercial Joint Stock Bank (TrustBank) has recently said that from October 5 to the end of December 31, 2011, the bank will offer incentives for small and medium-sized enterprises (SMEs) to serve purchase and processing of products for exports, agriculture, seafood that commit to use the bank’s international payment service. The [...]

Sacombank holding bank gains 2.174tr dong profit in Jan-Sept. Posted: 06 Oct 2011 11:47 PM PDT Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB) has said that as of September 30, 2011, the profit before tax of the holding bank was estimated to reach 2.174 trillion dong, or 77% of the year’s target. With the growth momentum in the last three quarters this year and the aforementioned profit before tax, this [...]

Banking restructuring via M&A, not an easy task: Expert Posted: 06 Oct 2011 11:47 PM PDT Disposing of commercial banks of poor risk management should be the very first to come in the banking restructuring process, said economic expert Bui Kien Thanh. Still, whether these entities are to be merged with larger ones, with each other or their business operations are to be scaled down is a big puzzle. Do you [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610