Vietnam Business News

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• Gold prices edged down on Wednesday, tracking euro down on contagion fear
• Spot gold lost 0.6 percent to $1,770.99 an ounce on Wednesday
• Agribank sets 5% credit grow target in November and December
• Vietnam gemstone & precious metal imports in October down 70% mom
• Vietnam banks to report loans to fdi firms before Nov 30
• CTG: books vnd700bln capital gains from investment in Indovina bank
• Vietnam treasury to auction vnd2 trillion government bonds on nov 17
• Vietnam bond yields rise amid bank liquidity shortage
• Nov 16: Vietnam central bank keeps dollar exchange at vnd20,803 for 17 days
• Nov 16: Vietnam gold prices increases to vnd46.37mln/tael, dollar stable

Gold prices edged down on Wednesday, tracking euro down on contagion fear Posted: 16 Nov 2011 12:31 AM PST Gold prices fell more than half a percent on Wednesday, tracking a lower euro on fears the euro zone debt crisis could spread to France, the bloc’s second-largest economy, while Greece and Italy struggle to save their economies. Gold is a popular buy in times of economic and political turmoil because of its safe haven allure, [...]

Spot gold lost 0.6 percent to $1,770.99 an ounce on Wednesday Posted: 15 Nov 2011 11:33 PM PST Gold prices fell more than half a percent on Wednesday, tracking a lower euro on fears the euro zone debt crisis could spread to France, the bloc’s second-largest economy, while Greece and Italy struggle to save their economies. Gold is a popular buy in times of economic and political turmoil because of its safe haven allure, [...]

Agribank sets 5% credit grow target in November and December Posted: 15 Nov 2011 10:48 PM PST Agribank proposed series of measures to boost credit growth over 5%, mostly increase capital in agricultural lending and rural areas, said Nguyen Ngoc Bao, the CEO of Vietnam Banking for Agricultrural and Rural Development (Agribank). From January to Oct,2011, Agribank has focused lending on agricultural and rural areas, reducing the loan balance non-manufacturing sector, reduced [...]

Vietnam gemstone & precious metal imports in October down 70% mom Posted: 15 Nov 2011 10:48 PM PST Vietnam is estimated to have imported $232 million worth of gemstone and precious metal (mostly gold) in October, 2011, down 70% on-month while export turnover from the item reached $33.8 million, slightly unchanged from previous month. Vietnam is estimated to have imported $232 million worth of gemstone and precious metal (mostly gold) in October, 2011, [...]

Vietnam banks to report loans to fdi firms before Nov 30 Posted: 15 Nov 2011 10:47 PM PST The State Bank of Vietnam requested local credit institutions and branches of foreign banks to submit reports on loans to foreign direct investment (FDI) firms by Nov 30, the central bank said on its website on Nov 15. Specifically, the central bank asked local credit institutions and branches of foreign banks to prepare reports on: [...]

CTG: books vnd700bln capital gains from investment in Indovina bank Posted: 15 Nov 2011 10:47 PM PST Vietnam JS Bank for Industry and Trade or Vietinbank (CTG) booked a capital surplus of VND700 billion from its original investment of VND1.392 trillion in Indovina Bank. Vietnam JS Bank for Industry and Trade or Vietinbank (CTG) booked a capital surplus of VND700 billion from its original investment of VND1.392 trillion in Indovina Bank as [...]

Vietnam treasury to auction vnd2 trillion government bonds on nov 17 Posted: 15 Nov 2011 10:46 PM PST The State Treasury of Vietnam will open a price competitive auction for VND2 trillion worth of government bonds distributed equally for 3-year and 5-year tenors at the Hanoi Stock Exchange at 14:00 Nov 17, the bourse said. The principal will be paid at maturity and coupons will be paid annually on Nov 7 for 3-year [...]

Vietnam bond yields rise amid bank liquidity shortage Posted: 15 Nov 2011 10:46 PM PST Vietnam's government bond yields rose as local banks experienced severe liquidity shortage and had to limit their investments in valuable papers. Yields on 1-year government bonds on Nov 15 increased to 12.51%, up 0.03% from the previous session, the local newswire DVT.vn reported, citing Bloomberg's data. It was predicted that liquidity shortage will threaten both [...]

Nov 16: Vietnam central bank keeps dollar exchange at vnd20,803 for 17 days Posted: 15 Nov 2011 10:45 PM PST Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,803 today, unchanged from October 28, after adjusting 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 VND21,011. Commercial [...]

Nov 16: Vietnam gold prices increases to vnd46.37mln/tael, dollar stable Posted: 15 Nov 2011 10:44 PM PST Vietnam gold increased VND0.27 million from yesterday close to VND 46.37million/tael on Wednesday morning. The world gold slightly gained last night in New York but fell this morning in Asia .Local dollar prices were still kept at VND20,803. SJC Hanoi quoted at VND46.150 million/tael for bid, and VND46.370 million/tael for bid and ask, respectively as [...]

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