Vietnam Business News

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• Hanoi’s May CPI rises 0.16%: GSO
• May 21: Vietnam stocks soar, ending losing string
• Ho Chi Minh’s May CPI rises +0.06%: GSO
• Local banks learn “people strategy” from foreign counterparts
• Risk adverse, cash rich banks failing to come to the party
• More trade promotions needed on Dutch market
• Banks rush to borrow money from foreign sources
• Malaysia keen on investment in Bac Ninh
• Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion
• Ocean Bank to cooperate with UK partner

Hanoi’s May CPI rises 0.16%: GSO Posted: 21 May 2012 07:54 AM PDT Hanoi consumer price index (CPI) was estimated to have accelerated by +0.16% on-month in May 2012, driven by increase in prices of traffic and prices of other goods and services, the municipal General Statistics Office (GSO) said. 2012's May CPI posted the lowest on-month rise level compared with May of 4 recent years (May 2011 [...]

May 21: Vietnam stocks soar, ending losing string Posted: 21 May 2012 07:52 AM PDT Vietnamese stocks kicked off the week with a strong gain today as investors rushed to jump in shares on hope of strong recovery after 8 days of losing streak and posted a gain of 13.7 points or 3% to 448.02. Volume declined to 77.3 million shares worth of VND1.26 trillion, but it was mostly due [...]

Ho Chi Minh’s May CPI rises +0.06%: GSO Posted: 21 May 2012 07:50 AM PDT Ho Chi Minh City's consumer price index (CPI) in May 2012 is estimated to have increased by +0.06% from April, the municipal General Statistics Office (GSO) said. Ho Chi Minh's May CPI recorded the lowest on-month rise in 21 recent months and also the lowest rise level compared with May's CPI in 4 recent years, [...]

Local banks learn “people strategy” from foreign counterparts Posted: 21 May 2012 07:47 AM PDT From April 2007, the banking industry of Vietnam has turned to a new phase when the nation joined fully WTO and more international financial institutions came to explore opportunities to become strategic shareholders at local banks. Foreign banks find ways to partner with local banks through investment funds for multi purposes. Beside financial benefits, these [...]

Risk adverse, cash rich banks failing to come to the party Posted: 21 May 2012 07:47 AM PDT Many banks are suffering negative credit growth rates despite offering attractive loan packages. To enhance credit growth, many banks have offered loan packages for different sectors with rates even lower than the State Bank's lending cap of 15 per cent, but the disbursement of those loan packages has been indolent. By the end of April, [...]

More trade promotions needed on Dutch market Posted: 21 May 2012 07:46 AM PDT Vietnamese businesses need to step up trade promotions and advertising so their brand names become familiar to consumers in the Netherlands, as trade ties between Vietnam and the European country have been developing rapidly. According to the Import and Export Department at the Ministry of Industry and Trade, the value of Vietnamese exports to the [...]

Banks rush to borrow money from foreign sources Posted: 21 May 2012 07:45 AM PDT  Big Vietnamese commercial banks are going to issue international bonds in 2012. Sacombank's Board of Directors has said it was going to submit to the shareholder's meeting the plan to issue 200 million dollars worth of five-year international bonds. These would be unconvertible bonds with no mortgaged assets. Foreign currency capital mobilization going slowly Sacombank [...]

Malaysia keen on investment in Bac Ninh Posted: 21 May 2012 07:43 AM PDT Malaysian Ambassador to Vietnam Dato Azmil Mohd Zabidi led a Malaysian business delegation to explore investment opportunities in the northern province of Bac Ninh on May 21. Chairman of the Bac Ninh People's Committee Nguyen Nhan Chien said Malaysian and other foreign businesses have contributed to the province's industrial growth. He said he hopes the [...]

Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion Posted: 21 May 2012 07:41 AM PDT Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for US$7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing. Under the agreement, Yahoo will sell half its stake in Alibaba for at least $6.3 [...]

Ocean Bank to cooperate with UK partner Posted: 21 May 2012 07:40 AM PDT Ocean Commercial Joint Stock Bank during its annual general meeting last Saturday revealed a plan to form a partnership with the UK's Hermes Capital to help better its operations in the coming time. If the two sides come to an agreement, Hermes Capital, an Asia-oriented investment banking and management firm, will hold a 15% stake [...]

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