Vietnam Business News

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• Vietnam banks anxiously wait to be assigned credit growth limits
• Vietnam central bank to announce limits for discounting commercial papers quarterly
• Week ending feb 18: finance and banking review
• Vietnam central bank net withdraws nearly vn23.4tln on omo in week ending feb 17
• Vietnam’s economy has grown, as member of world trade organisation
• Vietnam, Cuba to bolster ties
• Vietnam aims at $14-16Bln ODA disbursement until 2015
• Feb 20: vietnam central bank keeps dollar exchange at vnd20,828
• Vietnam gold prices rose to VND44.84 million/a tael on Monday morning
• How high bank officers’ income indeed?

Vietnam banks anxiously wait to be assigned credit growth limits Posted: 20 Feb 2012 12:23 AM PST Some bankers in Vietnam are nervously awaiting the announcement of credit growth targets for 2012, fearing that limits as low as zero assigned by the central bank could affect their business plans. The State Bank of Vietnam said early this week that for the first time, it will allocate different credit caps for domestic lenders. [...]

Vietnam central bank to announce limits for discounting commercial papers quarterly Posted: 20 Feb 2012 12:23 AM PST The State Bank of Vietnam (SBV) on February 16 issued Circular No. 01/2012/TT-NHNN, stipulating that the central bank will decide on the upper limits for credit institutions to discount commercial papers at the SBV quarterly. Accordingly, the central bank will announce the limits for commercial paper discount facility of credit institutions. In order to receive [...]

Week ending feb 18: finance and banking review Posted: 20 Feb 2012 12:22 AM PST Vietnam Prime Minister has recently directed the State Bank of Vietnam (SBV) to have measures to support the stock market. The Government's moves The SBV on February 13 issued Directive No. 01, in which it announced credit growth limits for four different groups of credit institutions. Specifically, the central bank set maximum credit growth rate [...]

Vietnam central bank net withdraws nearly vn23.4tln on omo in week ending feb 17 Posted: 20 Feb 2012 12:15 AM PST The State Bank of Vietnam (SBV) net withdrew VND23.356 trillion from commercial banks through open market operations (OMO) from Feb 13 to Feb 17. The State Bank of Vietnam (SBV) net withdrew VND23.356 trillion from commercial banks through open market operations (OMO) from Feb 13 to Feb 17, compared to the net withdrawal of nearly [...]

Vietnam’s economy has grown, as member of world trade organisation Posted: 20 Feb 2012 12:06 AM PST Economic experts affirmed at a seminar titled 'Five years with WTO- Integration and Development of Vietnamese enterprises' held on Feb.17, that Vietnam had taken great economic strides in five years as member of the World Trade Organisation. The country's export turnover has increased 97.7 per cent in the past five years, a year-on-year increase of [...]

Vietnam, Cuba to bolster ties Posted: 20 Feb 2012 12:02 AM PST Party General Secretary Nguyen Phu Trong met with Coordinator General of the Cuban Committees for the Defense of the Revolution (CDR) Carlos Rafael Miranda Martinez on Saturday during his visit to Hanoi. Martinez thanked the Vietnamese Party, State and people for the support they have offered to Cuba. He briefed the Vietnamese Party leader on [...]

Vietnam aims at $14-16Bln ODA disbursement until 2015 Posted: 19 Feb 2012 11:59 PM PST Vietnam is expecting to disburse $2.8-3.2 billion Official Development Assistance (ODA) annually from now to 2015, according to a project recently approved by the Prime Minister. This is an important source of investment capital which helps Vietnam carry out its five-year socioeconomic development plan for 2011-2015, said the national project for attraction, management and utilization [...]

Feb 20: vietnam central bank keeps dollar exchange at vnd20,828 Posted: 19 Feb 2012 11:55 PM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Monday, unchanged since Dec 26, 2011. The central bank has kept the U.S dollar exchange rate stable for the longest period since early 2011. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central [...]

Vietnam gold prices rose to VND44.84 million/a tael on Monday morning Posted: 19 Feb 2012 11:52 PM PST Vietnam gold prices rose to VND44.84 million/a tael on Monday morning. Gold fell in New York last Friday night but gained in Asia this morning. SJC Hanoi quoted at VND44.62 million/tael for bid and VND44.84 million/tael for ask, respectively as of 9:25 am, Hanoi time. SJC Ho chi minh was quoted at VND44.62-44.82 million/tael for [...]

How high bank officers’ income indeed? Posted: 19 Feb 2012 11:46 PM PST After receiving sky high Tet bonuses, bank officers now are going to get the 2011 income's back pay. Analysts believe that this sum of money, in fact, is the Tet bonus. However, bank officers have to get the bonus at different moments in order to avoid criticism. For the last several years, banks have become [...]

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