Vietnam Business News

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• India makes hallmarking gold jewellery mandatory
• Price cuts fail to enliven property market
• Top ten outstanding real estate events in 2011
• Apartment and ground land prices in Hanoi drop 10-20pct in 2011
• Euro will survive, gold will drop: Jim Rogers
• 568,000kg gold reserves discovered in Ethiopia
• Maintaining trade deficit cut a tough task
• Mekong Delta plans to produce 1.2mnl tons of pangasius fish in 2012
• Spot gold lost half a percent on Wednesday
• Silver futures traded 0.80% lower at Rs 53,803 per kg today

India makes hallmarking gold jewellery mandatory Posted: 04 Jan 2012 12:51 AM PST India has made hallmarking gold jewellery for quality control mandatory, a senior government minister said. India is the world’s biggest consumer of gold but quality is sometimes a problem, especially with small jewellers and customers face problems during redemption. Gold imports by India plunged 56% to 125 tonnes in the fourth quarter, cutting full-year imports [...]

Price cuts fail to enliven property market Posted: 04 Jan 2012 12:51 AM PST Vietnam's real estate market is in a funk so bad that several drops in prices have not brought any cheer to buyers. According to the Ho Chi Minh City Real Estate Association, with home prices falling continuously, many buyers are adopting a wait-and-see approach, hoping prices would drop further. This is a "dangerous" situation for [...]

Top ten outstanding real estate events in 2011 Posted: 04 Jan 2012 12:51 AM PST In 2011, Vietnam's real estate market faced many challenges caused by the tightening credit policy aimed at stabilizing macro economy. 1. Resolution No 11 to tighten credit for real estate sector Implementing the government's Resolution No 11 dated on February 24, the State Bank of Vietnam (SBV) issued a Directive No 01 to tighten credit [...]

Apartment and ground land prices in Hanoi drop 10-20pct in 2011 Posted: 04 Jan 2012 12:51 AM PST Condominium and ground land prices in Hanoi in 2011 decreased 10-20% from 2010, according to Deputy Minister of Construction, Nguyen Tran Nam. Particularly, real estate market report in 2011 built by the Ministry of Construction showed that in the first 10 months of 2011, the condominium price in Hanoi declined 3-8% from 2010. However, in [...]

Euro will survive, gold will drop: Jim Rogers Posted: 04 Jan 2012 12:50 AM PST The euro could rebound in the near-term despite the problems affecting continental Europe, as investors are overly bearish on the currency, investor Jim Rogers said on Tuesday. Rogers, who co-founded the Quantum Fund with George Soros in the 1970s and is a well-known commodities bull, also said he remains bullish on commodities in general but expects gold [...]

568,000kg gold reserves discovered in Ethiopia Posted: 04 Jan 2012 12:50 AM PST National Mining Corporation (NMiC), one of Ethiopia’s mining companies, last week announced the discovery of a 568,000kg worth gold reserve in the African country’s Oromia and Tigray regional states. The two regions reportedly hold the country’s largest gold reserves, according to geological data from Ethiopia’s Ministry of Mines. Once it starts exploiting and producing the precious metal [...]

Maintaining trade deficit cut a tough task Posted: 04 Jan 2012 12:41 AM PST Vietnam will find it difficult to sustain into the new year the trade deficit reduction that it managed in 2011, given that it plans to reduce import tariffs on many products and that the ongoing global recession could hurt its exports, experts say Vietnam's trade deficit narrowed to US$9.5 billion from $12.4 billion in 2010, [...]

Mekong Delta plans to produce 1.2mnl tons of pangasius fish in 2012 Posted: 04 Jan 2012 12:41 AM PST The Mekong Delta, the biggest Vietnamese rice and seafood production delta expected to produce 1.2 million tons of pangasius fish in 2012. Pangasius fishes are planned to be breeded on a total area of of 5,440 hectares of water surface in Dong Thap, An Giang, Ben Tre, Vinh Long and Can Tho provinces, according to [...]

Spot gold lost half a percent on Wednesday Posted: 04 Jan 2012 12:39 AM PST Spot gold lost half a percent on Wednesday, shedding the previous session’s strong gains on encouraging economic data from the United States and Europe, although the fall may be capped by rising concerns on Iran. Bullion began the year by recouping all of last week’s losses to post its largest daily rise since October 25 [...]

Silver futures traded 0.80% lower at Rs 53,803 per kg today Posted: 04 Jan 2012 12:15 AM PST Silver futures traded 0.80% lower at Rs 53,803 per kg today after speculators offloaded their holdings, taking weak cues from global markets. At the Multi Commodity Exchange, May silver fell by Rs 435, or 0.80%, to Rs 53,803 per kg, with a business turnover of 150 lots. The March delivery lost Rs 416, or 0.78%, [...]

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