Vietnam Business News

---

• Central bank tightens lending in foreign currencies
• Credit institutions requested to lend foreign currency to oil importers
• One-week interbank interest rate dives to all-time low on Apr 25
• May 3: Vietnam central bank keeps dollar exchange at vnd20,828, commercial banks lower dollar prices
• Gold was trading at VND42.85 million/tael on Thursday
• Vietnam state budget deficit hits vnd35.3tln by mid april 2012: gso
• New trademark for post-Beeline in the pipelines
• Supermarket sales soar 27%
• Steelmakers to cut costs, up exports
• Vietnam’s public debt is safe?

Central bank tightens lending in foreign currencies Posted: 02 May 2012 10:18 PM PDT The State Bank of Vietnam (SBV) issued Decision No. 857/QD-NHNN, tightening lending to customers being residents by credit institutions and branches of foreign banks, the central bank said on its official website yesterday [May 2]. Accordingly, credit institutions and branches of foreign banks licensed to operate in foreign exchange shall consider providing short-term loans in [...]

Credit institutions requested to lend foreign currency to oil importers Posted: 02 May 2012 10:17 PM PDT Credit institutions and branches of foreign banks are requested to provide foreign currency loans to oil importers. Credit institutions and branches of foreign banks are requested to provide foreign currency loans to oil importers, even when the importers do not have sufficient income in foreign currency to repay the loans, the central bank said on [...]

One-week interbank interest rate dives to all-time low on Apr 25 Posted: 02 May 2012 10:17 PM PDT The average interbank interest rate for 1-week term on April 25 slipped 3.27% against one day earlier to an all-time low of 4.5% per annum, the State Bank of Vietnam (SBV)'s data showed. Interbank interest rates on April 25 edged down for most terms against a day before. Interbank rates for 2-week and 1-month dipped [...]

May 3: Vietnam central bank keeps dollar exchange at vnd20,828, commercial banks lower dollar prices Posted: 02 May 2012 10:16 PM PDT Vietnam’s central bank quoted the U.S dollar exchange rate at VND20.828 on Thursday 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 was trading at VND42.85 million/tael on Thursday Posted: 02 May 2012 10:14 PM PDT Vietnam gold was trading at VND42.85 million/tael on Thursday morning, almost unchanged from yesterday close. The world gold continued to fall for the second day both in Asia trade this morning and in New York trade last night. SJC Hanoi quoted at VND42.63 million/tael for bid and VND42.85 million/tael for ask, respectively as of 8:41 am, [...]

Vietnam state budget deficit hits vnd35.3tln by mid april 2012: gso Posted: 02 May 2012 10:13 PM PDT Vietnam's state budget deficit was estimated to amount to VND35.3 trillion by April 15th, the General Statistics Office (GSO) said on its website. As of April 15, the state budget revenues reached VND198.9trillion or 26.9% the year plan, (including VND127.9 trillion of domestic collection or 25.9% year plan) while the state budget expenditures were VND234.2 [...]

New trademark for post-Beeline in the pipelines Posted: 02 May 2012 10:12 PM PDT Many experts believe that Gtel Mobile, Beeline network provider in Vietnam, will quickly replace the trademark with another brand, as the trademark will be discontinued in Vietnam in the next 6 months . Though Gtel leaders told Tuoi Tre there will be no need to hurry, a new brand will help the company serve existing customers as [...]

Supermarket sales soar 27% Posted: 02 May 2012 10:11 PM PDT While sales at traditional markets in HCM City have plunged in the last 10 years, supermarkets have been growing at 19-27 per cent a year in that period. Market research companies say consumers prefer shopping at supermarkets to traditional markets these days. The change in the shopping habits has strongly influenced the nature of goods [...]

Steelmakers to cut costs, up exports Posted: 02 May 2012 10:10 PM PDT Sustained surpluses in the steel industry demand that the sector restructure to become more responsive to market demand and to weed out weaker steelmakers, Viet Nam Steel Association vice chairman Nguyen Tien Nghi spoke to the Vietnam News Agency. How was development of the steel industry in the first months of this year? The stockpile [...]

Vietnam’s public debt is safe? Posted: 02 May 2012 10:10 PM PDT Though the Vietnamese government has affirmed that its public debt is within a safe area, there are some signs showing the increasing "heat" of public debt in qualitative and quantitative analysis, with some notable features as follow. Firstly, the scale of public debt quickly grows, exceeding anticipation. According to the Finance Ministry's report on public [...]

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