Vietnam Business News

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• Why silver is poised for a big crash into the teens
• Silver: Industrial use, investment demand to push prices higher
• Gold prices in India rose for a third straight day to stay above 28,000 rupees per 10 grams
• Silver price expected to hit 34/oz in 2012 and $37/oz in 2013
• Ambassadors help exporters iron out snags
• MB Bank opens branch in Cambodia
• Dalat sets new fresh flower export record
• Exports to Africa, South-West Asia beat annual target
• Fuel dealers to blame for losses

Why silver is poised for a big crash into the teens Posted: 21 Dec 2011 02:04 AM PST Some weeks ago in a Silver Market update we had noted that a large potential Head-and-Shoulders top area was completing in silver, but we got “thrown off the scent” by the positive Accum-Distrib line (now rapidly reversing) and the seemingly strongly bullish COT structure. In the light of the severe bearish breakdown by stocks indices last week [...]

Silver: Industrial use, investment demand to push prices higher Posted: 21 Dec 2011 02:00 AM PST Silver rallied to $48.70 an ounce in April, and after giving back 40 percent of its value by September, has started to recover. Silver has grown as an investment vehicle in the last decade and has a number of things going for it on the industrial side, according to Dillon Gage Metals. "Silver is much more than [...]

Gold prices in India rose for a third straight day to stay above 28,000 rupees per 10 grams Posted: 21 Dec 2011 02:00 AM PST Gold prices in India rose for a third straight day to stay above 28,000 rupees per 10 grams for the first time in a week, denting physical demand which has been subdued so far this week, dealers said. * The most-active February gold contract on the Multi Commodity Exchange was 0.61 per cent higher at 28,036 [...]

Silver price expected to hit 34/oz in 2012 and $37/oz in 2013 Posted: 21 Dec 2011 01:59 AM PST Bank of America Merrill Lynch (BofAML) estimated that there is a good upside potential in 2012 Silver prices. As per the bank, prices should average $34/oz, followed by $37/oz in 2013, because of continued interest in the metal. Also, the bank believes that $30/oz silver is justifiable at present. According to BofAML, silver fundamentals have been improving [...]

Ambassadors help exporters iron out snags Posted: 21 Dec 2011 01:42 AM PST Ambassadors and trade counselors met with outstanding businesses in Hanoi on December 20 to discuss ways to help them boost exports. Representatives from some businesses pointed out difficulties they face with exporting, such as high interest rates of bank loans and the length of time it takes to transport goods. They paid great attention to [...]

MB Bank opens branch in Cambodia Posted: 21 Dec 2011 01:41 AM PST The Military Commercial Joint Stock Bank (MB Bank) inaugurated its branch in Phnom Penh, Cambodia, on December 21, following a decision by the State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC). The inauguration ceremony was attended by the Governor of the NBC Chea Chanto, and Vietnamese Deputy Minister of Defence, Lieutenant [...]

Dalat sets new fresh flower export record Posted: 21 Dec 2011 01:41 AM PST The Central Highland resort city of Dalat has exported more than 53 million flowers in 2011, the record figure so far, according to the municipal People's Committee. The locality exports mainly roses, orchids and chrysanthemums to markets in Singapore, China, and Japan, and as far away as Europe and North America. Dalat is now the [...]

Exports to Africa, South-West Asia beat annual target Posted: 21 Dec 2011 01:41 AM PST Vietnam's export earnings to Africa, and South and West Asia hit US$6.43 billion in the past three quarters of this year, exceeding the annual target by 10 percent, according to the Ministry of Industry and Trade (MoIT). Exports to Africa earned US$3.08 billion, up 125 percent compared to the same period in 2010. South Africa [...]

Fuel dealers to blame for losses Posted: 21 Dec 2011 01:39 AM PST Fuel wholesalers would all be profitable if they had followed regulations and stuck to offering a commission of only VND600 per litre to dealers, said Deputy Minister of Finance (MoF) Vu Thi Mai. Mai made the statement at a press briefing held yesterday to report the results of investigations at four wholesale fuel companies including [...]

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