Vietnam Business News

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• Gold price sharply dropped on March 29 as global price sank to the lowest level since March 18
• Taking a bath in Vietnam real estate
• Crude gains on buying after sharp fall
• Gold on track for 6% Q1 gain
• Gold prices rose VND100,000 to VND44.02 million/tael today
• Bank merger deals expected to mushroom
• Customs authorities to assess imported milk price
• Apparel industry expects more export orders in Q2
• Seafood export target looks more distant
• UAE – a lucrative market for Vietnam

Gold price sharply dropped on March 29 as global price sank to the lowest level since March 18 Posted: 29 Mar 2012 10:34 PM PDT The price of gold in Vietnam sharply dropped on March 29 as global price sank to the lowest level since March 18 due to profit-taking. Sacombank Jewelry Company bought the metal at VND36.62 million and sold at VND36.72 million as of 8:25 am local time. Saigon Jewelry Company, the biggest gold shop in Vietnam, purchased [...]

Taking a bath in Vietnam real estate Posted: 29 Mar 2012 10:08 PM PDT Ho Chi Minh City got a 68-story skyscraper, Vietnam's tallest, when the downtown Bitexco Financial Tower was inaugurated in 2010. The building, boasting a helipad at the 50th floor, can be seen from almost every part of the city. It hasn't been a celebration for the owner, however. Nearly 18 months later half of the [...]

Crude gains on buying after sharp fall Posted: 29 Mar 2012 10:01 PM PDT U.S. crude futures rose on Friday on bargain buying after they shed more than $5 in two sessions on talk of a possible release of strategic oil reserves by consumer nations. FUNDAMENTALS U.S. light, sweet crude [CLCV1 103.44 0.66 (+0.64%) ] was up 65 cents at $103.43 a barrel by 0050 GMT, after settling down [...]

Gold on track for 6% Q1 gain Posted: 29 Mar 2012 09:40 PM PDT Gold was little changed on Friday after falling more than 1 percent in the previous session, but a steadier euro could encourage buying from investors as the precious metal was on track for a 6 percent increase this quarter. Spot gold [XAU= 1661.74 0.86 (+0.05%) ] steady at $1,661.26 an ounce by 0037 GMT. It [...]

Gold prices rose VND100,000 to VND44.02 million/tael today Posted: 29 Mar 2012 09:39 PM PDT Vietnam gold prices this morning rose VND100,000 from yesterday close to VND44.02 million/tael, local gold premium stays high. SJC Hanoi quoted at VND43.87 million/tael for bid and VND44.02million/tael for ask, respectively as of10:40 am, Hanoi time. Sacombank-SBJ gold prices were listed at VND43.92-VND44.00 million/tael for bid and ask, respectively. Rong Thang Long gold, a product [...]

Bank merger deals expected to mushroom Posted: 29 Mar 2012 09:07 PM PDT Reality shows in the global economic integration era when economies develop to a level that is likely to go beyond their control, it is essential for every Government to restructure the domestic economy. In doing so, M&A is widely regarded as an effective tool for the economic restructuring, in which bank restructuring is the top [...]

Customs authorities to assess imported milk price Posted: 29 Mar 2012 09:05 PM PDT The General Customs Department has listed import dairy products in risk management list in an effort to prevent the price from going up wildly in the coming time. The customs agency will collect tariffs in full if milk powder importers set a lower price than the level recorded in the database. It will also re-assess [...]

Apparel industry expects more export orders in Q2 Posted: 29 Mar 2012 09:02 PM PDT Apparel enterprises will gain more export orders in the second quarter following a downtrend in the year to date, said Dang Phuong Dung, deputy chairwoman of the Vietnam Textile and Apparel Association (VITAS). Many member enterprises reported a dip in export orders from traditional markets in Jan-Feb. Some firms even cut the working time of [...]

Seafood export target looks more distant Posted: 29 Mar 2012 09:01 PM PDT As shrimp and tra fish, two of the three major export seafood items of Vietnam, are facing troubles, the export turnover target of US$6.5 billion this year seems to be hard to achieve. Shrimp mortality concern Farmers in the Mekong Delta are facing mass mortality of shrimp due to severe water pollution, reported the agriculture [...]

UAE – a lucrative market for Vietnam Posted: 29 Mar 2012 09:00 PM PDT Vietnamese are encouraged to capitalise o­n the potential of the United Arab Emirates (UAE) market to boost exports to the nation, as the UAE is an important gateway to the European Union and Africa. The Ministry of Industry and Trade (MoIT) reports thatVietnam's export earnings to this key Middle East market in 2011 amounted to US$922 million, up [...]

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