Vietnam Business News

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• Habubank shareholders approve merger plan with SHB
• Gas prices fall by vnd35,000/ 12kg canister since May 01st
• May 2:Central bank keeps dollar exchange at vnd20,828, commercial banks lower dollar prices
• Gold prices rose by VND260,000/tael on Wednesday
• It’s not easy to squeeze into Vietnamese coffee market (part 3)
• State budget revenues rise 3.5%
• Can Gio may become wind power center
• Ford, GM sales skid as Chrysler, Toyota accelerate
• Nokia in talks to sell luxury Vertu unit: source
• Oil prices stable

Habubank shareholders approve merger plan with SHB Posted: 01 May 2012 09:10 PM PDT Hanoi Building Commercial Joint Stock Bank (Habubank or HBB)'s shareholders have recently approved the plan to merge with Saigon-Hanoi Commercial Joint Stock Bank (SHB), the local online newspaper TTVN.vn reported.  According to the merger plan, the newly-formed bank will be named Saigon-Hanoi Commercial Joint Stock Bank (SHB) with the charter capital of VND8.866 trillion. Habubank [...]

Gas prices fall by vnd35,000/ 12kg canister since May 01st Posted: 01 May 2012 09:09 PM PDT Gas prices in Vietnam fell by VND35,000 per 12-kg cylinder from May 1st, the local news provider Gafin.vn reported. The current gas prices for May delivery on the global market dropped by $140/ton from prices for April delivery to $852.5/ton, letting the domestic gas suppliers to cut retail prices by VND35,000/12kg-canister to VND370-380,000/12 kg-canister. Gas [...]

May 2:Central bank keeps dollar exchange at vnd20,828, commercial banks lower dollar prices Posted: 01 May 2012 09:08 PM PDT Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Wednesday 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 [...]

Gold prices rose by VND260,000/tael on Wednesday Posted: 01 May 2012 09:07 PM PDT Vietnam gold prices rose by VND260,000/tael morning after the holiday to VND43.06million/tael on Wednesday despite the world gold dropped both in Asia trade this morning and in New York trade last night. SJC Hanoi quoted at VND42.84 million/tael for bid and VND43.06 million/tael for ask, respectively as of 8:32 am, Hanoi time. Sacombank-SBJ gold was [...]

It’s not easy to squeeze into Vietnamese coffee market (part 3) Posted: 01 May 2012 09:05 PM PDT Trying every means to attract more customers, making heavy investments to develop brands–businessmen have admitted that it's very difficult to attain the market.  Anil Bhuwania, South East Asia and East Asia Director of MacCoffee, has affirmed that since 2011, after three years of surveying the Vietnamese taste and the market, MacCoffee has changed the coffee [...]

State budget revenues rise 3.5% Posted: 01 May 2012 09:05 PM PDT Vietnam's State budget revenues reached VND234 trillion (US$11.23 billion) in the first four months of 2012, up 3.5% over the same period last year, according to the Ministry of Finance. The State budget increased by VND61.62 trillion (US$2.96 billion) in April. Domestic revenues rose VND6.51 trillion (US$312.48 million) while exports fell by VND1.3 trillion (US$62.4 [...]

Can Gio may become wind power center Posted: 01 May 2012 09:04 PM PDT Planning for a project to make Can Gio Biosphere Reserve the largest wind power center in the southern region is being completed in order to be submitted to the city People's Committee in Ho Chi Minh City for approval. The 200MW project, with an estimated capital of VND10 trillion (US$480.8 million), fits into the city's [...]

Ford, GM sales skid as Chrysler, Toyota accelerate Posted: 01 May 2012 09:03 PM PDT General Motors and Ford saw their US sales skid in April as rivals Chrysler, Toyota and Volkswagen posted strong gains, industry data showed Tuesday. Total industry sales rose 2.3 per cent from a year ago, while the sales pace was unchanged from March at a seasonally adjusted, annualized rate of 14.4 million vehicles, according to [...]

Nokia in talks to sell luxury Vertu unit: source Posted: 01 May 2012 09:03 PM PDT Cellphone maker Nokia is in talks to sell its UK luxury subsidiary Vertu, which hand makes some of the world’s most expensive mobile phones, a source familiar with the company’s strategy said on Monday. Earlier the Financial Times reported that talks with private equity group Permira were at an advanced stage on a possible sale [...]

Oil prices stable Posted: 01 May 2012 09:02 PM PDT Oil prices were narrowly mixed in muted trading on Tuesday as markets were closed in many countries for May Day holidays. New York’s main contract, light sweet crude for delivery in June, fell 14 cents to $104.73 a barrel. Brent North Sea crude for June edged up six cents to $119.53. Expectations of a build-up [...]

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