Vietnam Business News

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• Gold futures climb to finish back above $1,700 on Tuesday
• Gold demand in India drops on volatile rupee, price rise
• First Asset’s Stephenson talks about the outlook for gold prices
• Gold prices increased VND0.37 million a tael on Wednesday morning
• Agricultural production gets credit priority
• Vietnam-Kansai economic forum opens in Danang
• NA deputies want better minimum wage, same overtime
• SBV unveils draft decree on gold trading management
• EVN’s tragic business results released
• Ha Long Bay wonder makes Vietnamese businessmen excited

Gold futures climb to finish back above $1,700 on Tuesday Posted: 23 Nov 2011 12:19 AM PST Gold futures rose Tuesday, as gloomy economic news added to inflation fears and pushed the metal back above $1,700 an ounce. Gold for December delivery  added $23.80, or 1.4%, to settle at $1,702.40 an ounce on the Comex division of the New York Mercantile Exchange. It touched a high of $1,706.40. "Bargain-hunting buying has come back [...]

Gold demand in India drops on volatile rupee, price rise Posted: 22 Nov 2011 11:30 PM PST Gold demand in India, the world biggest consumer, was subdued on Tuesday as a weakening rupee kept buyers at bay, further deterred by a rebound in local prices due to gains in overseas markets, dealers said. * The most-active gold for December delivery on theMulti Commodity Exchange (MCX) was 0.59 percent higher at 28,615 rupees per [...]

First Asset’s Stephenson talks about the outlook for gold prices Posted: 22 Nov 2011 11:17 PM PST John Stephenson, portfolio manager for First Asset Investment Management Inc., talks about the outlook for gold prices and the European sovereign-debt crisis. He talks with Michael McKee on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg) Watch this Video

Gold prices increased VND0.37 million a tael on Wednesday morning Posted: 22 Nov 2011 11:00 PM PST Vietnam gold increased VND0.37 million a tael from Tuesday close to VND44.52 million/tael on Wednesday morning following the world gold. Local dollar prices were still kept at VND20,803 from Oct 28. SJC Hanoi quoted at VND44.20 million/tael for bid, and VND44.52 million/tael for bid and ask, respectively as of 9: 21 Hanoi time. SJC Ho [...]

Agricultural production gets credit priority Posted: 22 Nov 2011 10:45 PM PST Agriculture and rural areas have been identified as the top priorities in the State Bank of Vietnam's credit policy for 2012, with an aim of increasing farm production value. This statement was made by SBV Governor Nguyen Van Binh in an exclusive interview with the Vietnam News Agency on Nov. 21. Restoration of production in [...]

Vietnam-Kansai economic forum opens in Danang Posted: 22 Nov 2011 10:45 PM PST The Vietnam-Kansai economic dialogue forum was held in central coastal Danang city on November 22 to discuss ways to attract more investment to the East-West Economic Corridor and adjacent areas in central Vietnam. The forum, the fifth of its kind, is part of the annual economic cooperation exchange programme between Vietnam and Japan's Kansai region. [...]

NA deputies want better minimum wage, same overtime Posted: 22 Nov 2011 10:44 PM PST At their meeting yesterday to discuss amendments to the Labour Code, many National Assembly deputies wanted the minimum wage to be increased, maintaining the number of maximum annual overtime hours. They said the number of extra working hours should not be increased from the current 200 hours to 360 hours per year as proposed in [...]

SBV unveils draft decree on gold trading management Posted: 22 Nov 2011 10:44 PM PST The State Bank of Vietnam Monday announced the official draft decree on gold trading management, with some additional clauses intended to dispel certain rumors which have been raising public concerns recently. The bank's release of the decree should bring an end to rumors regarding gold trading, while detailing new regulations for the trading system. Under [...]

EVN’s tragic business results released Posted: 22 Nov 2011 10:43 PM PST The Ministry of Industry and Trade has announced that state-owned Electricity of Vietnam Group (EVN) lost VND10.162 trillion ($483.76million) in 2010. This is the first time that EVN's business results have been made public. The group incurred losses from its own electricity production and trading, irrespective of the staggering loses accumulated from speculative investments in [...]

Ha Long Bay wonder makes Vietnamese businessmen excited Posted: 22 Nov 2011 10:42 PM PST The Vietnamese business circle has geared up to prepare to grab the new opportunities to be brought when Ha Long Bay has been recognized as one of the seven new wonders of the world. Experts have urged management agencies to draw up long term development plan to effectively exploit the wonderful landscape. More travelers to [...]

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