Vietnam Business News

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• Vietcombank voices to make its bad debts ratio transparent
• Vietnam prime minister asks c.bank to report banking system restructuring project
• Tinnghiabank raises gold deposit interest rates above 3% p.a.
• 8 top executives of Vietnam securities companies step down in 6 weeks
• Nov 10: Vietnam central bank keeps dollar exchange at vnd20,803 for 12 working days
• Nov 10: Vietnam gold falls to vnd46.1mln/taael, dollar stable
• Vietnam to tighten inspections on importing goods and services
• Firms must obtain SBV permission to process gold into bullion
• TransAsia Airways operates new direct route Hanoi – Kaohsiung
• APEC to create business momentum

Vietcombank voices to make its bad debts ratio transparent Posted: 09 Nov 2011 11:56 PM PST Vietcombank's high bad debt ratio was attributable to the fact that the bank has been applying international auditing standards (IAS) in evaluating bad debts. Vietcombank's high bad debt ratio was attributable to the fact that the bank has been applying international auditing standards (IAS) in evaluating bad debts, Nguyen Van Tuan, Vietcombank’s deputy CEO told [...]

Vietnam prime minister asks c.bank to report banking system restructuring project Posted: 09 Nov 2011 11:56 PM PST The government on Nov 9, 2011 requested the State Bank of Vietnam to cooperate with related ministries and government bodies to promptly develop banking system restructuring project and report it to the Prime Minster in November, 2011. The government on Nov 9, 2010 issued Resolution No.98/NQ-CP of its October regular meeting in which it requested [...]

Tinnghiabank raises gold deposit interest rates above 3% p.a. Posted: 09 Nov 2011 11:55 PM PST Vietnam Tin Nghia Bank (TinNghiaBank) increased the interest rates it offered on gold certificates to 3.1%, the highest level in the banking system and up 0.4% from the bank's previous level, the local online newspaper VnEpress.net reported. Customers who deposited at least 0.1 tael of SJC gold were entitled to receive extra interest rates, said [...]

8 top executives of Vietnam securities companies step down in 6 weeks Posted: 09 Nov 2011 11:54 PM PST The Hochiminh Stock Exchange's announcements showed that as many as 8 Deputy CEOs and CEOs of branch managers of 8 securities companies have stepped down in the past 6 weeks. Bui Lan Anh, deputy CEO of Trang An Securities company ended her working contract with the company from Nov 11, 2011 under her personal request. [...]

Nov 10: Vietnam central bank keeps dollar exchange at vnd20,803 for 12 working days Posted: 09 Nov 2011 11:54 PM PST Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,803 on Thursday, unchanged from October 28, after adjusting the it for 14 times in October. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was [...]

Nov 10: Vietnam gold falls to vnd46.1mln/taael, dollar stable Posted: 09 Nov 2011 11:53 PM PST Vietnam gold fell to VND 46.10million/tael this morning following global market fall yesterday, while local dollar prices were still kept at 20,803 dong, unchanged from October 28. SJC Hanoi quoted at VND45.850 million/tael for bid, and VND46.070 million/tael for bid and ask, respectively as of 9: 32 Hanoi time. SJC Ho Chi Minh listed at [...]

Vietnam to tighten inspections on importing goods and services Posted: 09 Nov 2011 11:52 PM PST The General Department of Vietnam Customs issued the official document No.5589/TCHQ-TXNK requesting all the local customs departments to tighten inspecting, consulting and determining taxes for importing items in the list of risk management. The local departments also have to enhance inspection on importing goods and services in large quantity, high value such as automobiles, complete [...]

Firms must obtain SBV permission to process gold into bullion Posted: 09 Nov 2011 10:00 PM PST Vietnam gold traders reported that they must acquire the State Bank of Vietnam's quota for having their gold processed into bullion, a policy that helps central bank control bullion production. For example, Sacombank Jewelry Limited Company (SBJ) said the company was recently required to seek the State Bank's quota before having its gold processed into [...]

TransAsia Airways operates new direct route Hanoi – Kaohsiung Posted: 09 Nov 2011 09:54 PM PST For the increasing traffic between Vietnam and Taiwan, the Taiwanese TransAsia Airways officially operates Hanoi – Kaohsiung route from November 10, 2011. With two lights per week on Monday and Thursday by Airbus A320, the new flights can bring 12 business seats and 138 economy seats which depart Kaohsiung at 5.20pm and arrive Hanoi at [...]

APEC to create business momentum Posted: 09 Nov 2011 09:54 PM PST The APEC Business Forum will take place on the sidelines of 2011 APEC Summit in Hawaii from November 11-12, 2011. Vietnam Chamber of Commerce and Industry (VCCI) deputy chairman Hoang Van Dung tells VIR what we can expect. Is the Vietnamese business group ready to leave for the event? At this point of time, around [...]

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