Vietnam Business News

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• Vietnam biggest gold trader sjc and 5 selective banks make huge profit from selling gold
• Gold remains unchanged during weekend
• Vietnam gold falls to 43m dong, exchange rate down on Oct. 10
• Vietnam central bank to build national gold trading floor
• Traders sell 8 tonnes of gold in three days
• Banks race to increase interest rates on gold deposits
• Oct 10: Vietnam stocks close mixed, volume at 2 months low
• Space technology for Vietnam’s socio-economic development
• Gold Star awards to be announced on October 15
• German news agency hails Vietnam’s economy

Vietnam biggest gold trader sjc and 5 selective banks make huge profit from selling gold Posted: 10 Oct 2011 10:48 PM PDT The SJC and 5 banks (Eximbank, ACB, Techcombank, Dong A Bank and Sacombank) earned huge profit from selling gold to the public under the central bank's decision to allow them to offload gold deposits to meet local demand. The State Bank of Vietnam, the country's central bank, granted permission to the country's biggest gold trader [...]

Gold remains unchanged during weekend Posted: 10 Oct 2011 09:39 PM PDT For the first time this year gold prices in Vietnam remained almost unchanged for two straight days last weekend after more than eight tons of the metal were sold at less than market rates under a central bank stabilization package. They were around VND43.45 million a tael (37.5 grams), while globally it closed last week [...]

Vietnam gold falls to 43m dong, exchange rate down on Oct. 10 Posted: 10 Oct 2011 08:00 PM PDT Vietnam gold prices lost 43 million dong a tael threshold this morning as world gold prices dropped 1 percent in New York trade last Friday and local dollar price was adjusted around 20,840 – 20,856 dong for bids and the ceiling 20,860 dong for ask. SJC gold was last traded at 42.89 million dong and [...]

Vietnam central bank to build national gold trading floor Posted: 10 Oct 2011 07:56 PM PDT The State Bank of Vietnam, the country's central bank, is expected to open the national gold trading floor, the local newspaper Nguoi Lao Dong quoted Le Xuan Nghia, deputy chairman of the National Finance Supervision Committee, as saying. The State Bank of Vietnam, the country's central bank, is expected to open the national gold trading [...]

Traders sell 8 tonnes of gold in three days Posted: 10 Oct 2011 07:26 PM PDT From October 6 to noon Saturday (October 8), about eight tonnes of gold were sold for people, investors as well as gold shops, according to the provisional figure of a gold trader that is involved in the gold market intervention group allowed by the State Bank of Vietnam (SBV). Accordingly, in the first day (October [...]

Banks race to increase interest rates on gold deposits Posted: 10 Oct 2011 04:56 PM PDT Banks raced to raise their gold deposit interest rates after the Saigon Jewelry Company Limited (SJC) and 5 selected banks were allowed to sell gold deposits to help stabilize the domestic gold market. The highest rate offered for gold deposit was seen at Tin Nghia Bank, hitting 2.2% per annum. Other small banks also offered [...]

Oct 10: Vietnam stocks close mixed, volume at 2 months low Posted: 10 Oct 2011 04:56 PM PDT Vietnamese stocks closed mixed today as investors bought blue chips on HOSE but still sold shares on the smaller cap bourse HNX, liquidity fell to the lowest level in 2 months on caution. The benchmark VN Index added 1.7 points, or 0.4%, to end at 419.66. Volume fell 29.9% to 22.8 million shares worth VND357.7 [...]

Space technology for Vietnam’s socio-economic development Posted: 10 Oct 2011 04:48 PM PDT Experts from 30 countries and territories are attending an international workshop in Hanoi from October 10-14 to introduce Vietnam to space technology applications that could serve its socio-economic development. The workshop is organized by the Vietnam Space Technology Institute, the United Nations Office for Outer Space Affairs, the International Society for Photogrammetry and Remote Sensing, [...]

Gold Star awards to be announced on October 15 Posted: 10 Oct 2011 04:47 PM PDT A press conference was held in Hanoi on October 10 to announce the Sao Vang Dat Viet (Vietnam Gold Star) awards ceremony and other activities to mark Vietnam Entrepreneurs Week. 200 leading Vietnamese brands representing 25 commodity groups were nominated for the Vietnam Gold Star Award. Among the top ten Vietnamese brands for 2011 are [...]

German news agency hails Vietnam’s economy Posted: 10 Oct 2011 04:47 PM PDT Vietnam is one of the fastest growing economies in the South East Asian region, reports the German Press Agency (DPA). The remark was made coinciding with German Chancellor Angela Merkel's official visit to Vietnam, starting on October 11. During her first ever visit, Ms. Merkel will discuss economic issues and hold political talks with Vietnamese [...]

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