Thursday, May 24, 2012

Vietnam Business News

Vietnam Business News

Vietnam’s restructuring plan implementation still “under discussion”: WB

Posted: 24 May 2012 12:20 AM PDT

The actual implementation of the restructuring plan is still "under discussion" and preparations for a Financial Sector Assessment Program are also "underway", the World Bank (WB) said in its latest release May 23. The unresolved problems in the banking sector are likely to remain a source of concern for Vietnam in the coming years, WB [...]


Vietnam five-year bonds decline as supply May exceed demand

Posted: 24 May 2012 12:19 AM PDT

Vietnam's benchmark five-year bonds fell for a second day on speculation the supply of new securities may exceed demand, prompting the government to accept higher yields. The dong was steady. The State Treasury will offer 10 trillion dong ($480 million) of bonds at an auction on May 29, according to a statement on Hanoi Stock [...]


Overnight interbank rate dives to 1.7% p.a. on May 23: source

Posted: 24 May 2012 12:18 AM PDT

Overnight interest rates in the interbank market nosedived to 1.7-2% p.a. on May 23 while that for 1-week and 1-month maturities on the same day slipped to 2% p.a. and 4-4.5% p.a., respectively, the local newswire NDHMoney.vn reported. The central bank net injected VND240 billion on open market operation (OMO) yesterday, of which it pumped [...]


Vietnam stocks down at midday despite good news on inflation

Posted: 24 May 2012 12:16 AM PDT

Vietnamese stocks fell by midday on Tursday, with positive news on inflation and a fuel price cut failing to revive buying interest, a broker and an analyst said on Thursday. The government estimated that inflation fell below 10 percent in May for the first time since October 2010, which could give the central bank more [...]


Vietnam’s May CPI accelerates to+0.18%: GSO

Posted: 24 May 2012 12:13 AM PDT

Vietnam consumer price index (CPI) in May is estimated to have increased by +0.18% from April mostly thanks to rise in prices of traffic and other goods and services, the General Statistics Office said on its website on May 24th. This month's CPI has increased back after two months of slowdown, the data showed. However, [...]


Gold rose to VND41.52 million/tael on Thursday morning

Posted: 24 May 2012 12:12 AM PDT

Vietnam gold rose by VND360,000 a tael from yesterday close to VND41.52 million/tael on Thursday morning, world gold rebounded some gain in Asia trade this morning after dropping in New York trade last night. SJC Hanoi quoted at VND41.30 million/tael for bid and VND41.52 million/tael for ask, respectively as of 8:56 am, Hanoi time. SJC [...]


Vietnam banks likely to pay deposit insurance premiums according to their creditworthiness: draft law

Posted: 24 May 2012 12:11 AM PDT

Credit institutions are likely to be charged different premiums according to their creditworthiness. Vietnam law makers discussed a draft law on deposit insurance yesterday, initiating an idea that credit institutions should be charged different premiums according to their creditworthiness to ensure fairness and enhance their operational efficiency, the local media DVT.vn reported. The approach is [...]


Vietnam’s cement consumption falls 7.8% yoy in jan-may: Vicem

Posted: 24 May 2012 12:11 AM PDT

Vietnam is estimated to have consumed a total of 19 million tons of cement in Jan-May period, decreasing 7.8% year on year, the local news provider Gafin.vn reported, citing figures from Vietnam Cement Industry Corporation (VICEM). The country's policies on controlling inflation, tightening monetary, decreasing public investment, frozen property market are considered to be main [...]


Nutritious products sold with dubious origins

Posted: 24 May 2012 12:09 AM PDT

Advertised as having special benefits for consumer health, many types of bird's nest, ginseng, and lingzhi mushroom that are rampantly available on the market are of dubious quality and origin. In some markets around Ho Chi Minh City, such as An Dong or Binh Tay, consumers should be dazzled to see a number of such [...]


Big banks’ CEOs receive smaller pay than small banks’

Posted: 24 May 2012 12:07 AM PDT

The Chief Executive Officer (CEO) of one of the biggest banks in Vietnam received 80 million dong a month, while a colleague of his, who managed a smaller bank, got 200 million dong. The member of the Board of Directors of a medium class joint stock bank in Hanoi said that the monthly income of [...]


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