Vietnam Business News

---

• A national gold trading floor should be established: experts
• Gold prices increased by VND200,000 a tael on Tuesday morning
• Vietnam central bank spends vnd130tln to buy foreign currency
• Vietinbank gets sbv approval in principle to open a subsidiary bank in Germany
• Gold management decree weeds out private shops, brings chances to banks
• Vietnam is losing competitiveness: Eurocham
• April 10: Vietnam central bank keeps dollar exchange at vnd20,828
• Vietnam central bank considers lowering risk weight for securities lending to 150%
• PepsiCo to export Vietnamese snacks
• VietJetAir promotes Vietnam’s tourism

A national gold trading floor should be established: experts Posted: 09 Apr 2012 11:45 PM PDT Experts suggested that a national gold trading floor should be set up; a move aims to stabilize the local gold market and create price parity between domestic and global market, the local online newspaper Phap Luat TPHCM reported. They believed that the establishment of a gold trading floor will bring positive results and fit with [...]

Gold prices increased by VND200,000 a tael on Tuesday morning Posted: 09 Apr 2012 10:50 PM PDT Vietnam gold prices increased by VND200,000 a tael from yesterday close to VND43.52 million/tael on Tuesday morning, following the world gold prices. SJC Hanoi quoted at VND43.30 million/tael for bid and VND43.52 million/tael for ask, respectively as of 9:34 am, Hanoi time. Sacombank-SBJ gold was listed at VND43.42-VND43.52 million/tael for bid and ask, respectively. Rong [...]

Vietnam central bank spends vnd130tln to buy foreign currency Posted: 09 Apr 2012 10:45 PM PDT The State Bank of Vietnam (SBV) has spent VND130 trillion to purchase foreign currency, the local online newspaper Saigon Dau Tu Tai Chinh cited information from the meeting between the central bank and 14 domestic lenders. The SBV requested all 14 credit institutions to announce their decisions to cut interest rates after the meeting and [...]

Vietinbank gets sbv approval in principle to open a subsidiary bank in Germany Posted: 09 Apr 2012 10:45 PM PDT Vietnam Joint-Stock Commercial Bank for Industry and Trade (VietinBank) has got approval in principle from the State Bank of Vietnam (SBV) to upgrade its branch in Germany into a subsidiary bank, the central bank said on its website on April 9. Accordingly, the lender's subsidiary bank will be named VietinBank (Europe) Ltd. and locates at [...]

Gold management decree weeds out private shops, brings chances to banks Posted: 09 Apr 2012 10:14 PM PDT Under the new decree on gold management released on April 3, 2012, the State has the exclusive right to produce bullion gold, export gold materials and import gold materials for making bullion gold. New decree worries private traders "Now I still can earn some money every day from selling bullion gold. People nowadays only buy [...]

Vietnam is losing competitiveness: Eurocham Posted: 09 Apr 2012 09:54 PM PDT Vietnam is losing its competitiveness, Preben Hjortlund, newly appointed president of the European Business Chamber of Commerce (EuroCham) said. The conclusion is given amid the recent inflow of the foreign direct investment (FDI) have dropped significantly that shows Vietnam is loosing its competitiveness and foreign investors are seeking for other investment opportunities outside of Vietnam. [...]

April 10: Vietnam central bank keeps dollar exchange at vnd20,828 Posted: 09 Apr 2012 09:48 PM PDT Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Tuesday, unchanged for 4 months and a half, the 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 [...]

Vietnam central bank considers lowering risk weight for securities lending to 150% Posted: 09 Apr 2012 09:47 PM PDT The State Bank of Vietnam (SBV) intends to lower the risk weights for securities and real estate lending to 150% from current 250% and to impose a loan-to-deposit ratio of 95% [presently 80%] for banks and 100% [presently 85%] for finance companies. These are among the proposed changes specified in the draft circular to supplement [...]

PepsiCo to export Vietnamese snacks Posted: 09 Apr 2012 09:42 PM PDT PepsiCo Vietnam plans to export some kinds of Vietnamese nosh like rice crust, prawn crackers and cassava chips to Southeast Asian countries. This was announced by its Vietnam Snacks Chief Operating Officer, Richard Kaiser, on April 9. He said the company will purchase about 1,200 tonnes of cassava from Vietnamese farmers for its production line. [...]

VietJetAir promotes Vietnam’s tourism Posted: 09 Apr 2012 09:30 PM PDT VietJet Aviation Joint Stock Co. (VietJetAir) on Sunday unveiled one new Airbus A320 featuring Vietnam's official tourism logo and slogan under a sponsorship agreement between the airline and the country's tourism authority. The new Airbus A320 is painted with a stylized five-petal lotus with the "Vietnam – Timeless Charm" words on both sides of its [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610