Vietnam Business News

---

• VDB sells 100% of offered government-backed bonds on Feb 22
• Vnd50tln worth of government bonds to mature this year
• CIVETS Watch: for investors, 2012 is Vietnam’s comeback year
• Feb 24: Vietnam gold edges up to vnd45.24mln/tael
• Feb 24: vietnam central bank keeps dollar exchange at vnd20,828
• Gold jumps above VND45 million
• Construction ministry agrees on establishment of specialized bank for real estate sector
• Vietnam’s first commercial joint stock bank lowers lending interest rate
• Vietnam carries out SOE reshuffle to make them more effective
• Eximbank took first step to swallow Sacombank

VDB sells 100% of offered government-backed bonds on Feb 22 Posted: 23 Feb 2012 10:37 PM PST Vietnam Development Bank sold VND4 trillion worth of 3- and 5-year government-guaranteed bonds, or 100% of the offered value, at the yield of 11.8-11.84% p.a. in an auction held on Feb 22, said the Hanoi Stock Exchange (HNX). The bid-to-cover ratio was 2.7, including six bidders registered for VND5.73 trillion 3-year bonds, seeking for yields [...]

Vnd50tln worth of government bonds to mature this year Posted: 23 Feb 2012 10:36 PM PST Commercial banks have been actively purchasing bonds as more than VND50 trillion worth of government securities will mature by the end of this year, the state-run Banking Times reported, citing its private sources. According to market insiders, the success of these recent bond auctions was largely due to investor expectations of lower inflation, forecast to [...]

CIVETS Watch: for investors, 2012 is Vietnam’s comeback year Posted: 23 Feb 2012 10:35 PM PST Foreign investors fled as inflation roared, but it looks like 2012 is making Vietnam a favored emerging nation again. The year 2012 seems to be shaping up as Vietnam's comeback year, as it slowly regains its place on investors' lists of favored emerging nations. The nation's benchmark VN Index of 302 stocks rose another 2.7% [...]

Feb 24: Vietnam gold edges up to vnd45.24mln/tael Posted: 23 Feb 2012 10:33 PM PST Vietnam gold prices rose by VND0.24 million/tael from yesterday close to VND45.24 million/tael on Friday morning. Gold rose in New York last night but eased this morning in Asia. SJC Hanoi was quoted at VND45.07 million/tael for bid and VND45.24 million/tael for ask, respectively as of 10:45 am, Hanoi time. SJC Ho chi minh was [...]

Feb 24: vietnam central bank keeps dollar exchange at vnd20,828 Posted: 23 Feb 2012 08:35 PM PST Vietnam’s central bank set the U.S dollar exchange rate at VND20.828 on Friday, 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 [...]

Gold jumps above VND45 million Posted: 23 Feb 2012 08:07 PM PST Price of gold in Vietnam rose by VND300,000 per tael (1.2 ounces) over the previous day on February 23 as global price soared to a three-month high on fund buying. Sacombank Jewellery Company bought gold at VND44.9 million and sold at VND45.12 million as of 8.20 am Vietnamese time. Saigon Jewellery Company, Vietnam's biggest gold [...]

Construction ministry agrees on establishment of specialized bank for real estate sector Posted: 23 Feb 2012 07:59 PM PST The Vietnamese Ministry of Construction (MoC) has recently agreed with the proposal of Vietnam Real Estate Association (VREA) on the establishment of a specialized bank for real estate sector and suggested the State Bank of Vietnam (SBV) to study this proposal. The ministry said that this model is consistent with Vietnam's current socio-economic development situation [...]

Vietnam’s first commercial joint stock bank lowers lending interest rate Posted: 23 Feb 2012 07:58 PM PST Vietnam International Commercial Joint Stock Bank (VIB) on February 22 said that it has built a credit package worth four trillion dong with the lending interest rate lower by 1.5%/year than the bank's common lending interest rate benchmark, applicable for producers, importers and exporters. Accordingly, the bank's credit package will focus on small and medium [...]

Vietnam carries out SOE reshuffle to make them more effective Posted: 23 Feb 2012 07:57 PM PST The most important goal of the state owned enterprise (SOE) reshuffle–is not to try to get as much money as possible, but to change the corporate governance mode. The Ministry of Finance has informed that the government has approved the plan on restructuring state owned economic groups and general corporations, and it is going to [...]

Eximbank took first step to swallow Sacombank Posted: 23 Feb 2012 07:57 PM PST Eximbank's President has proposed to re-elect the board of directors and the supervision board of Sacombank. The move has confirmed the rumor which has been spreading for the last few months about a plan of Eximbank to swallow Sacombank, even though the insiders denied this. Le Hung Dung, President of Eximbank, has sent a document [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610