Vietnam Business News

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• Vietnam bank reform a positive step, but lacks clarity: Fitch Ratings
• March 14: Vietnam stocks mixed, volume eases further
• March 14: Domestic gold falls but local gold premium expands
• Profit taking to extend this week: brokers
• Pakistan becomes Vietnam’s top tea importer
• Japanese retailers rush to enter Vietnam market
• VNA aims to become Southeast Asia’s No. 2 Carrier by 2020
• With DOC’s tra tax decision, VN sees opportunities to boost exports
• Dong/dollar exchange rate stabilizes, foreign capital returning
• Da Nang licenses 5 FDI projects in 2 months

Vietnam bank reform a positive step, but lacks clarity: Fitch Ratings Posted: 13 Mar 2012 10:58 PM PDT The Vietnamese government’s plan to restructure the nation’s banking system is a positive move, but a lack of clarity regarding the measures to be taken means significant risks may remain, according to Fitch Ratings. Weak capital levels, tight liquidity and deteriorating asset quality are among the main concerns for Vietnam's banking sector, and the government's [...]

March 14: Vietnam stocks mixed, volume eases further Posted: 13 Mar 2012 10:54 PM PDT Vietnamese stocks ended the morning session mixed as heavy weighs support VNIndex but pennies lost on the HNX, STB gained for a third straight day. The benchmark VN Index added 2.93 points or 0.68% to 432.32. Volume stood at 46.64 million shares changed hands for VND728.62 billion of which put-through trading contributed 2.7 million shares [...]

March 14: Domestic gold falls but local gold premium expands Posted: 13 Mar 2012 10:52 PM PDT Vietnam gold prices dropped VND160,000 to VND44.6 million a tael on Wednesday morning. Gold lost both in New York trade last night and Asia this morning as dollar weighs. SJC Hanoi quoted at VND44.43 million/tael for bid and VND44.6 million/tael for ask, respectively as of 10:30 am, Hanoi time. Sacombank-SBJ gold prices were listed at [...]

Profit taking to extend this week: brokers Posted: 13 Mar 2012 08:55 PM PDT Securities companies predicted that profit taking pressure would pick up in some sessions this week as many investors will keep locking in profits after a strong rising streak over the past time. The market saw aggressive volatility in the first week of extended trading hours, with the VN-Index losing 7.49 points, or 1.7%, to close [...]

Pakistan becomes Vietnam’s top tea importer Posted: 13 Mar 2012 08:54 PM PDT Pakistan is Vietnam's largest tea importer, said a representative of Africa, Western & Southern Asia Market Department Ministry of Industry and Trade (MOIT) Vietnam at the tea trade meeting between Vietnam and Pakistan. It was hosted online Tuesday by the Market Department of MOIT and the Pakistan Tea Association, the Vietnam News Service reported. Vietnam [...]

Japanese retailers rush to enter Vietnam market Posted: 13 Mar 2012 08:52 PM PDT Many Japanese leading retailers, whose target consumers are in both the high-income and lower middle-income segments of the population, have been actively pushing their entrance into the Vietnamese market. Many Japanese leading retailers, whose target consumers are in both the high-income and lower middle-income segments of the population, have been actively pushing their entrance into [...]

VNA aims to become Southeast Asia’s No. 2 Carrier by 2020 Posted: 13 Mar 2012 08:48 PM PDT Viet Nam Airlines (VNA) aims to become Southeast Asia's second-biggest full-service carrier by the end of the decade as it more than doubles its fleet in a bid to surpass Thai Airways International Pcl (THAI) and Malaysian Airline System Bhd. (MAS). The national flag carrier will be number two after Singapore Airlines, said Chief Executive [...]

With DOC’s tra tax decision, VN sees opportunities to boost exports Posted: 13 Mar 2012 08:46 PM PDT The decision by the US Department of Commerce (DOC) to lower the anti-dumping tax rates on tra fish fillets imported from Vietnam is really the heartening news for Vietnamese seafood exporters, because it would pave the way for more tra fish to enter the US market. Tra fish exports would soar Under this decision, the [...]

Dong/dollar exchange rate stabilizes, foreign capital returning Posted: 13 Mar 2012 08:46 PM PDT The dong/dollar exchange rate stabilization in the last two months and the positive macroeconomic signs have both lured the foreign capital back to the stock market. It is expected that many foreign investments close funds are closing this year. Analysts once warned about the possible capital withdrawal wave, in which tens of trillions of dong [...]

Da Nang licenses 5 FDI projects in 2 months Posted: 13 Mar 2012 08:45 PM PDT Đa Nang has licensed 5 foreign direct investment (FDI) projects with a total registered capital of over $10.4 million in the first two months of this year. Among the licensed projects, two are of American investors and the remaining three from Belgium, the Republic of Korea and Japan, according to the Đa Nang Investment Promotion [...]

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