Vietnam Business News

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• Experts bullish about gold futures traded on the Shanghai Futures Exchange on Tuesday
• Silver futures down on weak global cues
• Volatile markets and weakening paper assets pushed the demand for gold to a record
• Jim Rogers Sees Gold Correction
• Supportive measures needed to turn SJC to national bullion brand
• Dollar exchange rates to be kept stable within 1% band: experts
• Interest rates on AUD deposits approach 5% p.a.
• NOV 29: UPCoM-Index bucks trend to close up
• FIEs run $5.85bln trade surplus in 11m/2011
• Vietnam chemical product imports surge to $2.42bln in 11m/2011

Experts bullish about gold futures traded on the Shanghai Futures Exchange on Tuesday Posted: 29 Nov 2011 02:00 AM PST About 60 percent futures experts surveyed by the China Finance Corporation, a financial information provider run by Xinhua News Agency, are bullish about gold futures traded on the Shanghai Futures Exchange (SHFE) on Tuesday, while 20 percent expect range-bound trading and the rest 20 percent are bearish about the commodity. The benchmark gold contract, for [...]

Silver futures down on weak global cues Posted: 29 Nov 2011 01:44 AM PST Silver futures prices drifted by 0.74% to Rs 55,046 per kg today, after traders preferred to reduce their positions amid a weak trend in global markets. On the Multi Commodity market, silver for December contract fell by Rs 409, or 0.74%, to Rs 55,046 per kg, with a business turnover of 2,372 lots. The white [...]

Volatile markets and weakening paper assets pushed the demand for gold to a record Posted: 29 Nov 2011 01:29 AM PST Volatile markets and weakening paper assets pushed the demand for gold to a record 4,500 tonnes the world over last year, says a top official from a prominent Canadian gold mining company. And the craving for the precious metal, to which investors—including some governments—are increasingly turning to, might see the demand surge further this year, [...]

Jim Rogers Sees Gold Correction Posted: 29 Nov 2011 01:05 AM PST The price of gold is due for a correction and this could be used as an entry point by investors eager to get exposure to the precious metal, while the dollar is likely to strengthen as there has been too much pessimism about it, famous investor Jim Rogers told CNBC Tuesday. Gold  hit record after record [...]

Supportive measures needed to turn SJC to national bullion brand Posted: 29 Nov 2011 12:57 AM PST In order to transform the Saigon Jewelry Company Limited (SJC)'s bullion brand into the country's national brand, the State Bank of Vietnam (SBV) should consider taking additional supportive measures. In order to transform the Saigon Jewelry Company Limited (SJC)'s bullion brand into the country's national brand, the State Bank of Vietnam (SBV) should consider taking [...]

Dollar exchange rates to be kept stable within 1% band: experts Posted: 29 Nov 2011 12:57 AM PST Nguyen Kim Thanh, Head of Banking Strategy Institute believed that the dollar exchange rate fluctuations would be kept within 1% band given the government's determination and tight monetary policies. Vietnamese dong often experiences a lot of downward pressure at year end, said Nguyen Kim Thanh, Head of Banking Strategy Institute, yet believing that the dollar [...]

Interest rates on AUD deposits approach 5% p.a. Posted: 29 Nov 2011 12:56 AM PST Interest rates offered on Australian dollars (AUD)-denominated deposits were recently pushed up, rising to as high as 4.57% per annum, the local online newspaper Dau tu Chung Khoan reported. Specifically, ANZ offered 4.48% p.a. interest rates in AUD deposits for 1-month and up to 4.57% p.a. for 2-month terms, the highest level in the whole [...]

NOV 29: UPCoM-Index bucks trend to close up Posted: 29 Nov 2011 12:56 AM PST The UPCoM-Index, the measure of 127 unlisted public companies, closed up on Tuesday, bucking the trend of the official bourses. The index gained 0.04point or 0.13%, to close at 31.16.The gauge started with the given mark of 100 on June 24, 2009 but it has never been back to that level. The market volume increased [...]

FIEs run $5.85bln trade surplus in 11m/2011 Posted: 29 Nov 2011 12:55 AM PST Foreign invested enterprises (FIEs) in Vietnam are estimated to have run $5.85 billion trade surplus in Jan-November period, the General Statistics Office (GSO) said. Excluding crude oil, the sector is estimated to make $0.86 billion trade gap, GSO added. The FIEs are estimated to earn $49.35 billion from exports in the first 11 months of [...]

Vietnam chemical product imports surge to $2.42bln in 11m/2011 Posted: 29 Nov 2011 12:54 AM PST Vietnam is estimated to have imported $2.42 billion worth of chemical products in Jan- November, making 28.9% on year increase and accounting for 2.52% of the country's total import value, the General Statistics Office (GSO) said. In the period, the country has been estimated to export a total of $0.22 billion worth of chemical products, [...]

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