Friday, April 27, 2012

Vietnam Business News

Vietnam Business News

April 27: Central bank keeps dollar exchange at vnd20,828, banks raise dollar prices

Posted: 26 Apr 2012 11:11 PM PDT

Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Friday unchanged for more than 4 months, 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 ceiling [...]


Emirates SkyCargo creates international trade opportunities for Vietnam

Posted: 26 Apr 2012 11:08 PM PDT

Emirates SkyCargo, the freight division of Emirates, will soon be connecting more businesses in Vietnam with trade opportunities across its global network.  With the launch of a daily passenger service on June 4, Emirates SkyCargo will use the 240-tonne weekly belly-hold capacity of the aircraft to stimulate trade between Ho Chi Minh City, its Dubai [...]


2/3 securities companies to go bankrupted after restructuring

Posted: 26 Apr 2012 11:07 PM PDT

Only 1/3 of the operational securities companies would survive after the restructuring process initiated by the State Securities Commission (SSC), which plans to set up stricter requirements on the companies. According to SSC, a securities company would be forced to stop operation if it is put under the special supervision for six consecutive months, and [...]


Big muscles needed to get property moving

Posted: 26 Apr 2012 11:07 PM PDT

Industry insiders are striving to warm up a frozen local property market. A lack of capital and high bank interest rates have left customers with low confidence with many taking a 'wait and see' approach hoping for a further possible easing of property prices. Ministry of Construction's project appraisal expert Nguyen Truong Tien said further [...]


VN funds outpace India, China in attracting investors

Posted: 26 Apr 2012 11:06 PM PDT

Vietnam-focused stock funds became the only emerging market equity assets in Asia to lure investors every week this year as the nation's benchmark index rose to an 11-month high, Emerging Portfolio Fund Research said. Offshore equity funds focused on Vietnam received US $91 million in the past 16 weeks, according to data from EPFR. Investors [...]


Ritz Carlton hotel to be opened in HCMC

Posted: 26 Apr 2012 11:05 PM PDT

Visitors to the southern hub will be able to indulge in the luxury of the Ritz Carlton Hotel as the giant hotel group is planning to open an international five-star hotel chain in the city center in 2015, In Suk Ko, CEO of Bitexco Group, told a press conference today. Under a construction project titled [...]


Politburo: inflation rate under control at 8-9 percent

Posted: 26 Apr 2012 11:05 PM PDT

The Party Central Committee's Politburo has set a target of keeping this year's inflation rate at 8-9 percent to stabilize the macro-economy by implementing fiscal and monetary policy in a cautious and flexible manner. The target was announced at the Politburo's meeting on April 26 to discuss socio-economic issues in the first four months of [...]


Vingroup to launch int’l bond sale

Posted: 26 Apr 2012 11:04 PM PDT

Vingroup announced on Wednesday to issue an additional US$115 million worth of convertible bonds on international markets prior to July 10. Vingroup Joint Stock Company, the new name of Vincom Joint Stock Company, on Wednesday organized the first shareholders meeting since Vinpearl was merged into Vingroup. At the meeting, Vingroup reported that it had completed [...]


Suzuki starts building new auto factory

Posted: 26 Apr 2012 11:04 PM PDT

Vietnam Suzuki Corporation began work on Wednesday on a new automobile plant in the southern province of Dong Nai with an investment of US$13 million. The new project in Long Binh Industrial Park, Bien Hoa City has sent Japan's Suzuki Motor Corporation's total investment capital in the country rising to US$57.9 million. With the new [...]


PM passes new Vietnam-UK aviation pact

Posted: 26 Apr 2012 11:03 PM PDT

Prime Minister Nguyen Tan Dung has approved a new aviation transport pact already signed by officials of Vietnam and the United Kingdom to enhance air transport ties between the two countries as well as investment and cooperation relations. The Prime Minister signed Decision 480/QD-TTg endorsing the agreement on Tuesday, less than five months after officials [...]


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