Vietnam Business News

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• Silver could decline further in short-term
• Petrol firms look to cut losses
• Real estate market likely to recover later this year
• Real estate sector accounts for 72 pct of tax debts
• Vietnam’s property sector offers M&A potential
• Vietnam PM ends housing notarisation protocol
• Construction ministry objects to urban area halt
• Investors yet to see sale-off in property market
• March tends to be strong gold demand month for India, China
• Watching gold, silver futures close for directional clues

Silver could decline further in short-term Posted: 03 Mar 2012 10:48 AM PST Gold could fall to $1,600 an ounce in the near term on a lack of decent demand, but the metal is expected to rally again as it finds support from its long-term trendline, technical analysts said. Silver could also decline further after it collapsing when it failed to break out of a trading range this week, they [...]

Petrol firms look to cut losses Posted: 03 Mar 2012 07:22 AM PST Fuel dealers are saying that petrol prices should be raised by up to 1,000 dong per litre to cover ongoing losses and to stabilise the market in the face of world price hikes. “World petrol prices continue to stay high, ranging from US$132 to $137 per barrel since February 25. For imported A92 gasoline, we’re [...]

Real estate market likely to recover later this year Posted: 03 Mar 2012 07:18 AM PST The domestic real estate market was expected to recover in the second half of this year but the recovery will only occur in some segments of the sector, said an official of the House and Real Estate Market Management Department. Vu Xuan Thien, deputy head of the department under the Ministry of Construction, forecast that [...]

Real estate sector accounts for 72 pct of tax debts Posted: 03 Mar 2012 07:16 AM PST The real estate sector accounts for 72.3 percent of the total unpaid taxes, worth thousands of billions of dong, held by a large number of major businesses, confirmed a chief tax official at a meeting Thursday. Cao Anh Tuan, deputy head of the General Department of Tax under the Ministry of Finance, attributed the huge [...]

Vietnam’s property sector offers M&A potential Posted: 03 Mar 2012 07:15 AM PST Property service provider CBRE expects 2012 to be the year of merger and acquisition activities in Viet Nam’s real estate market, increasing its competitiveness and liquidity. It says that during the first nine months of 2011, the total value of M&A reached US$251 million, third behind consumer goods and finance. While the dominant formula for [...]

Vietnam PM ends housing notarisation protocol Posted: 03 Mar 2012 07:14 AM PST The Vietnamese Prime Minister has ordered the abolition of the mandatory notarisation requirement applied to five types of housing contracts under Government Resolution No 52/NQ-CP of December 2010. He also assigned the Ministry of Justice and the Ministry of Natural Resources and Environment to study and issue a joint circular guiding the authentication of housing [...]

Construction ministry objects to urban area halt Posted: 03 Mar 2012 07:14 AM PST The Vietnamese Ministry of Construction has asked the Government Inspectorate to reconsider its decision to halt Song Da Urban and Industrial Zone Investment and Development Joint Stock Co’s Nam An Khanh new urban area project. The ministry said there were no regulations in effect requiring the project be halted due to a violation of the [...]

Investors yet to see sale-off in property market Posted: 03 Mar 2012 06:16 AM PST Many foreign investors are seeking to buy cheap property products in Vietnam but there is yet any sale-off here, unlike in other countries. Foreign investors coming to Vietnam expect local property investors to discount their products by a half or two-third, like in South America, but this expectation has never come true, said Le Xuan [...]

March tends to be strong gold demand month for India, China Posted: 03 Mar 2012 03:14 AM PST March has tended to be a seasonally strong month for gold demand in the key physical markets of China and India, said UBS, a banking and financial services group, in a research note. Further, Shanghai Gold Exchange data shows volumes normally pick up toward the end of the first quarter. "This likely reflects some post-Lunar [...]

Watching gold, silver futures close for directional clues Posted: 03 Mar 2012 02:45 AM PST Friday's closes in gold and silver futures traded on the Comex division of the Nymex are key to direction for those markets, said Olympus Futures in a briefing. "If silver can close over $35 I'll like it a lot better. Gold is sitting on the 150-day moving average around $1,716," they said. According to Olympus [...]

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