Vietnam Business News

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• Bottom fishing rescues gold from nine-month low
• Vietnam central bank basically control situation of ailing banks: governor
• Vietnam credit growth falls 1.71% by mid-apr: NFSC
• Interbank trading dong -18%, dollar -64% in week ending May 4
• Vietnam central bank aims to promote listing of banking shares: governor
• Gold fell by VND1 million a tael to the lowest level in past nine months
• Investors retreating from gold market
• Selling brands to foreigners and the great lessons
• Expensive cars dislodged from Vietnam, low-cost cars flood the market
• Viettronic brand falls into oblivion

Bottom fishing rescues gold from nine-month low Posted: 10 May 2012 12:00 AM PDT Price of gold in Vietnam averted sinking to below VND41 million a tael (1.2 ounces) on May 10 while global price also edged up after three days of losses. Saigon Jewellery Company, Vietnam's biggest gold processer and trader, bought the metal at VND41.49 million and sold at VND41.64 million as of 10.23am Vietnamese time. Hanoi-based [...]

Vietnam central bank basically control situation of ailing banks: governor Posted: 09 May 2012 11:58 PM PDT The State Bank of Vietnam (SBV) has basically control the situation of weak credit institutions, easing risks for the entire banking industry, SBV Governor Nguyen Van Binh said in an interview yesterday. Weak credit institutions have been operating normally and bank run did not occur, Binh said, emphasizing that liquidity of the entire banking sector [...]

Vietnam credit growth falls 1.71% by mid-apr: NFSC Posted: 09 May 2012 11:56 PM PDT Vietnam's credit growth slid 1.71% by April 16 from late December last year, posing a huge challenge for the country's economic expansion and macroeconomic stability, said the National Finance Supervision Committee (NFSC). According to the NFSC, credit growth should not exceed 1.5%/month on average for the rest of the year to avoid fuelling another inflation [...]

Interbank trading dong -18%, dollar -64% in week ending May 4 Posted: 09 May 2012 11:56 PM PDT The total interbank trading value of the dong fell 18% to VND81.046 trillion from VND99.171 trillion in the week ending May 4 while that of the dollar slipped 64% to VND42.261 trillion from VND116.824 trillion, said the State Bank of Vietnam (SBV). Transactions in the interbank market were mostly for short terms. Specifically, trading value [...]

Vietnam central bank aims to promote listing of banking shares: governor Posted: 09 May 2012 11:55 PM PDT The State Bank of Vietnam (SBV) seeks to promote listing of banking shares as part of a broader solution package to improve quality of the banking sector, SBV Governor Nguyen Van Binh said in an interview yesterday. Specifically, the central bank will: (1) Apply new mechanisms for information disclosure of credit institutions; promote listing of [...]

Gold fell by VND1 million a tael to the lowest level in past nine months Posted: 09 May 2012 10:10 PM PDT Price of gold in Vietnam fell by VND1 million a tael (1.2 ounces) over the previous day to the lowest level in past nine months on May 9 fueled by a sharp drop in global price. Saigon Jewellery Company, Vietnam's biggest gold processer and trader, bought the metal at VND41.21 million and sold at VND41.36 [...]

Investors retreating from gold market Posted: 09 May 2012 08:43 PM PDT Feeling anxious about the liquidity of the gold market when the new decree on gold management takes effects as of May 25, a lot of people are rushing to sell gold. In the last months of 2011, people jostled with each other at gold shops for buying gold, when the domestic price was 3-4 million [...]

Selling brands to foreigners and the great lessons Posted: 09 May 2012 08:39 PM PDT Da Lan (toothpaste), Viettronic (electronics) and many other brands were once the Vietnamese pride in late 20th century. However, they have disappeared after wrong investment moves, giving grief to Vietnamese people. In early 1990s, Da Lan toothpaste brand of Son Hai Cosmetics Company, developed by Trinh Thanh Nhon, became well-known throughout the country. Da Lan [...]

Expensive cars dislodged from Vietnam, low-cost cars flood the market Posted: 09 May 2012 08:37 PM PDT The Vietnamese automobile market, which once cooled down after the news about the tax and fee increases, has warmed up again with the appearance of small size cars, brand new and very cheap. Since early May 2012, the images of Zotye Z100, the Chinese latest small car model, which is forecast to be the redoubtable [...]

Viettronic brand falls into oblivion Posted: 09 May 2012 08:35 PM PDT Like Da Lan, Viettronic was once a "brilliant brand" on the Vietnamese electronics market, but it has fallen into oblivion when foreign manufacturers flocked to the country. Viettronics, a brand developed by the Dong Da Electronics Company, became well known on the market in 1990s. Radio cassettes, black-and-white 14 inch TVs bearing Viettronic brand were [...]

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