Vietnam Business News

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• Spot gold could target $1,820 during the day, said Reuters market analyst
• Spot gold little changed at $1,788.49 an ounce on Monday
• Gold futures gain in electronic trading
• Vietnam SSC likely to name investors violating multiple-accounting trading regulation
• Vietnam central bank net injects vnd4tln on omo in week ending nov 11
• Construction and real estate bad debts represents 75-80% of total npls: ACB ceo
• Vietnam central bank to disclose bank bad debts
• Tienphong bank posts vnd79bln net profit in q3/2011
• Vietinbank chairman: two reasons for insuring dollar deposits
• Personal income tax considered too high

Spot gold could target $1,820 during the day, said Reuters market analyst Posted: 14 Nov 2011 12:37 AM PST Gold edged up on Monday, extending gains from the previous session, as change in the political leadership in Italy and Greece rekindled hopes on euro zone’s resolution to the debt crisis, fueling risk appetite in markets. Equities and commodities rose after Italy and Greece rushed to form new governments to save the indebted nations from bankruptcy [...]

Spot gold little changed at $1,788.49 an ounce on Monday Posted: 14 Nov 2011 12:33 AM PST Gold traded steady on Monday, as changes in the political leadership in Italy and Greece rekindled hopes for a resolution to the euro zone’s debt crisis, fuelling risk appetite in markets. Equities and commodities rose after Italy and Greece rushed to form new governments to save the indebted nations from bankruptcy and fend off a [...]

Gold futures gain in electronic trading Posted: 13 Nov 2011 09:27 PM PST Gold futures rose in electronic trading Monday, supported by a weaker dollar and matching gains for the broader metals complex. Gold for December delivery rose $6.90, or 39 cents, to $1,795.10 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours. The advance came amid a weakening dollar, with the [...]

Vietnam SSC likely to name investors violating multiple-accounting trading regulation Posted: 13 Nov 2011 09:12 PM PST It is reported that over 1,000 turns of investors have violated multiple account trading regulation since the introduction of Circular 74 three months ago, the State Securities Commission's data showed. The SSC released the information after recent market concerns that investors illegally used at least 2 accounts in different securities companies to buy and sell [...]

Vietnam central bank net injects vnd4tln on omo in week ending nov 11 Posted: 13 Nov 2011 09:11 PM PST The State Bank of Vietnam, the country's central bank, net pumped VND4.242 trillion on open market operations from Nov 7 to Nov 11, as compared to the net injection of VND1.166 trillion in the previous week, the local newswire NHDMoney reported, citi The central bank was reported to pump VND20.629 trillion for 7- and 14-windows [...]

Construction and real estate bad debts represents 75-80% of total npls: ACB ceo Posted: 13 Nov 2011 09:11 PM PST Total bad debts arising from construction and real estate sectors were estimated to account for 75-80% of the whole banking system's NPLs, the local newswire Saigon Tiep Thi on Nov 11 quoted Ly Xuan Hai, CEO of Asia Commercial Joint Stock Bank (ACB). ACB's bad debt ratio as of Sept, 30 soared to 1% from [...]

Vietnam central bank to disclose bank bad debts Posted: 13 Nov 2011 09:11 PM PST The State Bank of Vietnam recently issued Circular No. 35, providing guidance to release information on banking activities, including bad debts ratio of the entire banking sector. The State Bank of Vietnam recently issued Circular No. 35, providing guidance to release information on banking activities, including bad debts ratio of the entire banking sector, the [...]

Tienphong bank posts vnd79bln net profit in q3/2011 Posted: 13 Nov 2011 09:10 PM PST Tien Phong Commercial Joint Stock Bank (TienPhongBank) posted a net profit of VND79.07 billion ($3.77 million) in the third quarter of this year, rising 50% from a year earlier. In Q3/2011, the unlisted lender surprisingly suffered VND50.64 billion from lending activities and VND70.23 billion from services which are considered core and safest businesses of a [...]

Vietinbank chairman: two reasons for insuring dollar deposits Posted: 13 Nov 2011 09:00 PM PST Pham Huy Hung, Chairman of Vietnam Bank for Industry and Trade (VietinBank) specified two reasons for insuring foreign currency deposits at the discussion session of the draft law on deposit insurance on Nov 11. Firstly, as long as commercial banks are allowed to mobilize foreign currency, they must bear responsibility for foreign currency deposits by [...]

Personal income tax considered too high Posted: 13 Nov 2011 08:57 PM PST The current personal income tax is too high while the exemption is inconsiderable, said an evaluation conducted by the Vietnam Tax Consultants' Association (VTCA). At the meeting to collect feedback on the amendment of the personal income tax law held by the Ministry of Finance yesterday, VTCA said tax collection had been consistently rising in [...]

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