Vietnam Business News

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• Dollar appreciation attributed to a new rising demand power
• Price of petrol and diesel down
• Gold slumps VND700,000 per tael
• Finance companies shrink themselves amid worsening circumstances
• 143 FDI projects licenced in five months in second city
• Telco market looks to rate
• Securities firms see profit
• Vietnam, Venezuela make energy saving bulbs
• Nippon Steel Engineering rep.office opens in HCM City
• VN-Index up for third straight day

Dollar appreciation attributed to a new rising demand power Posted: 08 Jun 2012 02:05 AM PDT The watchdog agency and economists still keep calm amid the continued dollar price increases, affirming that everything is still under control. Meanwhile, people believe that there is a rising power which is collecting dollars on the market. Dollar price shoots up All commercial banks quoted the dollar price at the ceiling level of 21,036 dong [...]

Price of petrol and diesel down Posted: 08 Jun 2012 02:03 AM PDT The retail price of petrol is slashed by 800 VND (4 cents USD) to 21,900 VND (1.1 USD) per litre at 2pm on June 7 in accordance with the continuous drop in world prices, the Ministry of Finance reports. In addition, the price of diesel and gasoline is cut by 700 VND per litre to [...]

Gold slumps VND700,000 per tael Posted: 08 Jun 2012 02:03 AM PDT Price of gold in Vietnam fell by VND700,000 million a tael (1.2 ounces) over the previous day on June 8 as global price sank nearly 2 per cent at the trading session in New York last night. Saigon Jewellery Company, Vietnam's biggest gold processer and trader, bought the metal at VND41.4 million and sold at [...]

Finance companies shrink themselves amid worsening circumstances Posted: 08 Jun 2012 02:02 AM PDT Finance companies' annual reports show that their total assets and profits have decreased sharply Finance companies' annual reports show that their total assets and profits have decreased sharply Finance companies "lose weight" The sharpest decrease could be seen at EVN Finance, a subsidiary of the Electricity of Vietnam (EVN), whose total assets plummeted by 5,216.06 [...]

143 FDI projects licenced in five months in second city Posted: 08 Jun 2012 02:00 AM PDT Since early this year, the Ho Chi Minh City Department of Planning and Investment has granted licences to 143 FDI projects, valued at $180 million in total. With more capital added to 35 projects already in operation, the total amount of FDI funding has reached $470 million, a four fold increase compared to the same [...]

Telco market looks to rate Posted: 08 Jun 2012 02:00 AM PDT The telecom market will be knocked into shape if a sound telecom services rate calculation method is in place. After more than two years study, regulations on how telecom service fees are calculated are still in the drafting process. The latest draft circular regulating methods of calculating telephone services rates of ground-based fixed and mobile [...]

Securities firms see profit Posted: 08 Jun 2012 01:59 AM PDT Up to 22 of the 26 listed securities companies reported profits in the first quarter of this year, led by Sai Gon Securities Inc (SSI) who posted a pre-tax profit of VND205 billion (US$9.8 million) during the period. On the other end of spectrum, Sacombank Securities Co (SBS) topped the losers with an after-tax loss [...]

Vietnam, Venezuela make energy saving bulbs Posted: 08 Jun 2012 01:59 AM PDT Vietnam's Dien Quang Lamp joint stock company (JSC) and Venezuela's industrial petroleum and gas group have turned out their first test products following the recent signing of an agreement on the production of energy saving bulbs. Under the framework of the agreement, the two companies have set up a joint venture factory named Vietven. The factory, [...]

Nippon Steel Engineering rep.office opens in HCM City Posted: 08 Jun 2012 01:57 AM PDT A representative office of the Japanese Nippon Steel Engineering (NSE) Group officially opened in Ho Chi Minh City on June 7. The Japanese group which specializes in supplying energy facilities, pipelines and steelmaking equipment for architecture projects has set up its rep.offices in China, India, Brazil and other countries in Southeast Asia and Europe. The [...]

VN-Index up for third straight day Posted: 08 Jun 2012 01:54 AM PDT Shares rose for a third straight day on June 7 on the HCM Stock Exchange despite reduced market volume and value. Advancers overwhelmed decliners by 235-30, in line with another rise of 1.88 percent of the benchmark VN-Index which closed the session at 434.41 points. Blue chips soared, with 23 of the top 30 shares [...]

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