Vietnam Business News

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• Gold recovers again on Friday
• March 17: gold drops vnd44.35mln/tael, local gold premium remains high
• SCG produces cement in Vietnam
• PM proposes deeper Vietnam-Laos relations
• A new opportunity to promote Vietnamese food and hotels in Singapore
• Economic turmoil hits MICE tourism
• HSBC calls for gradual interest rate cuts
• VNG boosts online game exports to China, Japan
• Vietnam and Russia ink agreement on nuclear fuel rods
• March 17: Vietnam central bank keeps dollar exchange at vnd20,828, vietcombank rate down

Gold recovers again on Friday Posted: 16 Mar 2012 09:22 PM PDT Price of gold in Vietnam rebounded by VND200,000 a tael (1.2 ounces) over the previous day on March 16 as global price went up, snapping three days of losses. Sacombank Jewellery Company bought gold at VND44.2 million and sold at VND44.35 million as of 10.15am Vietnamese time. Saigon Jewellery Company, Vietnam's biggest gold processer and [...]

March 17: gold drops vnd44.35mln/tael, local gold premium remains high Posted: 16 Mar 2012 08:50 PM PDT Vietnam gold prices fell to VND44.35 million a tael on Saturdday morning. World gold closed flat in New York last night after deep fall at the begining of the trading day, ending the week with 3% loss. SJC Hanoi quoted at VND44.08 million/tael for bid and VND44.35 million/tael for ask, respectively as of 8:35 am, [...]

SCG produces cement in Vietnam Posted: 16 Mar 2012 08:31 PM PDT SCG Cement, one of five core affiliates of Thailand's SCG, on Thursday officially started operation of a cement plant of Buu Long Industry & Investment Joint Stock Company (Buu Long I&I JSC) in the southern province of Dong Nai. SCG Cement had acquired 99% equity of the company in the fourth quarter last year to [...]

PM proposes deeper Vietnam-Laos relations Posted: 16 Mar 2012 08:29 PM PDT Prime Minister Nguyen Tan Dung has proposed that Vietnam and Laos boost bilateral cooperation, especially in economics, trade, and investment. PM Dung said this while receiving Lao Deputy Prime Minister cum Foreign Minister Thongloun Sisoulit in Hanoi on March 16. He congratulated Laos on its achievements in national construction and socio-economic development, which have raised [...]

A new opportunity to promote Vietnamese food and hotels in Singapore Posted: 16 Mar 2012 08:29 PM PDT 29 Vietnamese enterprises will attend Food and Hotel Asia 2012 – FHA2012 Expo to be held in Singapore from April 17th to April 20th. This is the Asia's largest international food and hospitality trade event, involving 2,700 business and enterprises specializing in foodservice equipment, supplies and services from 65 countries and territories. FHA 2012 includes five [...]

Economic turmoil hits MICE tourism Posted: 16 Mar 2012 08:28 PM PDT Travel firms and exhibition centers in HCMC have suffered a downturn in MICE tourism given the impact of the global economic crisis, reporting that the number of MICE tourists had fallen sharply this year. Tran Van Hau, managing director of Saigon Exhibition and Convention Joint Venture Co., which runs the Saigon Exhibition and Convention Center [...]

HSBC calls for gradual interest rate cuts Posted: 16 Mar 2012 08:26 PM PDT HSBC Global Research has proposed gradual rather than fast interest rate decreases to avoid the risks of high inflation returning and strong weakening pressures on Vietnam dong against the U.S. dollar. "The risk, from our perspective, is that rate cuts come too soon and too fast, and that investors both domestically and abroad start to [...]

VNG boosts online game exports to China, Japan Posted: 16 Mar 2012 08:26 PM PDT VNG, an Internet company based in HCMC, has said it will focus on boosting online game exports to China and Japan this year as a strong rise in online game users in the two countries is forecast. VNG has recently shipped a game called "cloud garden" to China. The company has become one of the [...]

Vietnam and Russia ink agreement on nuclear fuel rods Posted: 16 Mar 2012 08:21 PM PDT Vietnam and Russia have signed an inter-governmental agreement on transporting highly enriched uranium fuel rods used by Da Lat nuclear reactor into Russia. The agreement was signed in Hanoi on March 16 by Deputy Minister of Science and Technology Le Dinh Tien and Deputy Director General Nikolay Spasskiy of the Rosatom Nuclear Energy Corporation. Addressing [...]

March 17: Vietnam central bank keeps dollar exchange at vnd20,828, vietcombank rate down Posted: 16 Mar 2012 07:50 PM PDT Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Saturday, unchanged for nearly 4 months or longest string since it has been applied but also the highest one. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price [...]

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