Vietnam Business News

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• Gold rose to VND41.57 million/tael on Tuesday morning
• Vietnam gas prices to be eased by vnd30,000/ 12kg canister from June
• SOEs suffer 2 consecutive years of loss to be changed ownership or let bankruptcy: finance minister
• Vietnam’s steel and iron import reaches $2.56Bln in 5M/2012: GSO
• Vietnam coal export falls to $512mln in 5m/2012: gso
• Positive changes in Vietnam’s economy: Financial Times
• Two office buildings to enter Hanoi’s market soon
• Gold bar trading allowed for six more months
• Vietnamese banks’ bad debt ratio remains an unknown
• Bank has new subsidiary

Gold rose to VND41.57 million/tael on Tuesday morning Posted: 29 May 2012 12:07 AM PDT Vietnam gold rose by VND120,000 a tael from yesterday close to VND41.57 million/tael on Tuesday morning, a lower level compared with yesterday morning. World gold eased in Asia trade this morning. SJC Hanoi quoted at VND41.35 million/tael for bid and VND41.57 million/tael for ask, respectively as of 8:32 am, Hanoi time. SJC Sacombank-gold was listed [...]

Vietnam gas prices to be eased by vnd30,000/ 12kg canister from June Posted: 29 May 2012 12:04 AM PDT Retail gas prices in Vietnam is forecast to fall around VND25-30,000 per 12-kg cylinder from June 2012, the local news provider Gafin.vn reported, citing information from local gas companies. The global world gas prices have dropped by $157/ton from May to current $659.5/ton. With this gas price fall level, the local gas prices should be [...]

SOEs suffer 2 consecutive years of loss to be changed ownership or let bankruptcy: finance minister Posted: 29 May 2012 12:03 AM PDT Under the new regulations, Vietnam's State owned enterprises (SOEs) which suffer 2 straight years of loss will be applied special solutions such as restructuring, ownership change or bankruptcy application. Vuong Dinh Hue, the Minister of Finance (MoF) said, adding that under the new regulations, SOEs must publicize finance statement as public companies. The new regulations [...]

Vietnam’s steel and iron import reaches $2.56Bln in 5M/2012: GSO Posted: 28 May 2012 11:59 PM PDT Vietnam is estimated to have spent $2.56 billion to import 3.16 million tons of steel and iron in Jan-May period, making year on year increase of 2.1% in value and 6.5% in volume, the government's General Statistics Office (GSO) said. In May alone, the country imported 700,000 tons of steel and iron worth $583 million, [...]

Vietnam coal export falls to $512mln in 5m/2012: gso Posted: 28 May 2012 11:57 PM PDT Vietnam is estimated to have reaped a total of $512 million after shipping 5.79 million metric tons of coal in Jan-May period, making year on year fall of 20.4% in value and 14.4% in volume, the General Statistics Office (GSO) said. In May alone, the country shipped 1.3 million metric tons of coal for $110 [...]

Positive changes in Vietnam’s economy: Financial Times Posted: 28 May 2012 11:57 PM PDT The UK's Financial Times (FT) has published an article on positive signals in the Vietnamese economy, such as a better consumer price index, falling inflation, and a more consistent monetary policy. The newspaper said that May 24 data on inflation showed the first single digit increase in almost two years and year-on-year price rises dropped [...]

Two office buildings to enter Hanoi’s market soon Posted: 28 May 2012 11:52 PM PDT Office tenants will have more options when two office buildings are launched on Hanoi's office market in the coming months. Hanoi Trade Corporation (Hapro) has picked Savills Vietnam as an authorized dealer for its office leasing services at Hapro Building in Hanoi's Dong Da District. This is a complex comprising five floors for retail space [...]

Gold bar trading allowed for six more months Posted: 28 May 2012 11:51 PM PDT Gold traders will be able to trade gold bars for another six months after the newly-issued Circular 16 of the State Bank of Vietnam takes effect from July 10, the Government said on its website (chinhphu.vn). The circular was issued last Friday to guide the implementation Government Decree 24/2012/ND-CP on gold bar trading restrictions. Under [...]

Vietnamese banks’ bad debt ratio remains an unknown Posted: 28 May 2012 11:38 PM PDT Governor of the State Bank of Vietnam Nguyen Van Binh said the bad debt ratio has increased from 3.2 percent earlier this year to 3.6 percent by mid April. However, other calculations show that the bad debt ratio is 3-4 times higher than the released figure. The 2012 annual report about Vietnam's economy conducted by [...]

Bank has new subsidiary Posted: 28 May 2012 11:33 PM PDT Military Insurance Corp has become a Military Bank subsidiary after the latter got permission from the Ministry of Finance to increase its ownership in the insurer from 18 to 49.8 per cent. The insurance company, with capital of VND400 billion (US$19 million), currently lists its shares on the unlisted public company market.-VNS

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