Vietnam Business News

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• Gold drops VND200,000 per tael
• Mexico’s Slim tops Forbes’ rich list for 3rd year
• Aviation agency asks EU to delay airline carbon tax
• Global auto output to rise 3%, Asia leading
• 8,600 Air Canada workers set to strike
• Gov’t ponders housing fund to help low-income earners
• Depositors extend deposit terms on lower rate cap plan
• March 8: Vietnam gold hovers at vnd44.48mil/tael, dollar stable
• Vietnam’s march CPI forecast to increase more than +1%: VCSC
• SBV Governor says easing of interest rates on the horizon

Gold drops VND200,000 per tael Posted: 07 Mar 2012 10:00 PM PST Sacombank Jewellery Company bought gold at VND44.27 million and sold at VND44.47 million as of 9.10am Vietnamese time. Saigon Jewellery Company, Vietnam's biggest gold processer and trader, collected the metal at VND44.25 million and sold at VND44.45 million as of 11am Vietnamese time. Hanoi-based Phu Quy Jewellery Company purchased SJC-brand gold at VND44.34 million and [...]

Mexico’s Slim tops Forbes’ rich list for 3rd year Posted: 07 Mar 2012 09:19 PM PST A quarter century ago Forbes published our first annual list of the World's Billionaires — and we found 140. This year the list broke records for the most number of billionaires (1,226) and combined net worth, at $4.6 trillion, up from $4.5 trillion. Behind those numbers is a more complicated story of rapid change among [...]

Aviation agency asks EU to delay airline carbon tax Posted: 07 Mar 2012 09:11 PM PST The head of the International Air Transport Association (IATA) on Tuesday urged the European Union to delay rolling out a carbon tax on air travel next year, warning it could provoke trade wars. “Non-European states see it as a direct attack on their sovereignty,” the IATA’s director general Tony Tyler told a forum on international [...]

Global auto output to rise 3%, Asia leading Posted: 07 Mar 2012 08:45 PM PST Global production of cars will increase by 3.0 percent this year, about in line with growth in 2011, the International Organization of Motor Vehicle Manufacturers forecast on Wednesday. Last year, global vehicle production reached a record 80.1 million units, the organisation told a press conference at the Geneva Motor Show. “After a dramatic fall in [...]

8,600 Air Canada workers set to strike Posted: 07 Mar 2012 08:44 PM PST Air Canada said Wednesday that its largest union plans to strike as early as next week, potentially wreaking havoc for travelers during a usually busy school holiday. The looming job action followed the workers’ rejection of a tentative agreement signed by the International Association of Machinists and Aerospace Workers bargaining committee, following mediation. The union [...]

Gov’t ponders housing fund to help low-income earners Posted: 07 Mar 2012 08:43 PM PST The Ministry of Construction is considering the establishment of a housing development fund to help low-income earners become homeowners. A draft plan on establishment of the fund is expected to be submitted to the Government by the end of this month. According to the ministry’s plan, among a range of funding sources that include profits [...]

Depositors extend deposit terms on lower rate cap plan Posted: 07 Mar 2012 08:37 PM PST Depositors rushed to extend deposit terms to enjoy current 14% p.a. interest rate after the State Bank of Vietnam (SBV) announced its plan to cut the base rate and the cap on dong deposits by 1%. On March 7, at some banks like Orient Commercial Bank (OCB) and Asia Commercial Bank (ACB), etc. customers primarily [...]

March 8: Vietnam gold hovers at vnd44.48mil/tael, dollar stable Posted: 07 Mar 2012 08:36 PM PST Vietnam gold prices edged up by VND to VND44.48 million a tael on Thursday morning. The world gold prices edged up in New York last night but held steady this morning in Asia trade. SJC Hanoi quoted at VND44.26 million/tael for bid and VND44.48 million/tael for ask, respectively as of 9:41 am, Hanoi time. Sacombank-SBJ [...]

Vietnam’s march CPI forecast to increase more than +1%: VCSC Posted: 07 Mar 2012 08:36 PM PST Vietnam's consumer price index (CPI) in March is forecast to rise more than +1% from February, driven by gas and petroleum price hikes, analysts with Viet Capital Securities (VCSC) forecast. March increase is expected to rise by 15.2-15.3% on year, lower than that of 16.44% on-year rise in Feb,VCSC said in its report. The domestic liquefied gas [...]

SBV Governor says easing of interest rates on the horizon Posted: 07 Mar 2012 08:32 PM PST The State Bank of Vietnam (SBV) will apply measures to lower banking interest rates by 1 per cent in the next few days, said Governor Nguyen Van Binh. During a regular Government meeting for the month of February, held on March 6, Binh said, "Under current conditions, measures to lower interest rates should be considered [...]

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