Vietnam Business News

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• June 20: Vietnam stocks edge up in thin trade
• HCM City seeks ADB loans for 11 key projects
• Banks in Vietnam have weaker 2011 results, face rising debts-c.bank
• Vietnam bonds drop for 7th day, longest losing streak since 2008
• International Travel Expo to take place in September
• Japan May trade deficit jumps on soaring energy costs
• Garment sector remains biggest hard currency earner
• Fuel retail price cuts expected on strong global fall
• Wood industry looks to new markets
• Ford showrooms extend opening hours Friday to spur sales

June 20: Vietnam stocks edge up in thin trade Posted: 20 Jun 2012 09:43 AM PDT Vietnamese stocks closed higher today but the liquidity shrank as investors were still in the wait-and-see mood. The benchmark VN Index added 1.81 points or 0.41% to 432.89. Volume fell 50.4% to 34 million shares worth of VND615.5 billion. Put through trading contributed 5 million shares worth of VND188 billion. The market breadth changed positive [...]

HCM City seeks ADB loans for 11 key projects Posted: 20 Jun 2012 09:35 AM PDT The HCM City government has sent a proposal to the Ministry of Planning and Investment seeking preferential loans of the Asian Development Bank (ADB) for its 11 key projects in the 2013-2015 period. The 11 projects mentioned in the proposal included Metro Line No. 3A from Ben Thanh to Tan Kien, an hanging road along [...]

Banks in Vietnam have weaker 2011 results, face rising debts-c.bank Posted: 20 Jun 2012 09:34 AM PDT Banks in Vietnam had weaker financial performance in 2011 than the year before and their bad debts recently have been “rising continuously,” the central bank said in a report on Wednesday. The State Bank of Vietnam said the country’s banks last year had slower profit growth as well as reduced rates of return on equity [...]

Vietnam bonds drop for 7th day, longest losing streak since 2008 Posted: 20 Jun 2012 09:33 AM PDT Vietnam's five-year bonds fell for a seventh day, the longest run of losses since April 2008, on speculation banks have less funds to invest as they target higher lending. The dong advanced. The government will aim for monthly credit growth of 2 percent in the second half of this year and full-year expansion of 12 [...]

International Travel Expo to take place in September Posted: 20 Jun 2012 09:06 AM PDT The 8th International Travel Expo-Ho Chi Minh City (ITE-HCMC) will be held at the Saigon Exhibition and Convention Center from September 13-15. The Travel Expo this year will focus on the quality of international tourism. The organizers have coordinated with international partners and airlines to invite more than 100 foreign buyers from southern Europe, South [...]

Japan May trade deficit jumps on soaring energy costs Posted: 20 Jun 2012 09:06 AM PDT Japan logged a bigger-than-expected trade deficit of US$11.5 billion in May, hit by soaring energy costs and weakening demand from struggling Europe, official data showed on Wednesday. The figures, which showed a 907.3-billion-yen shortfall in May from a year earlier, revealed that Japan had its first monthly trade deficit with the European Union since records [...]

Garment sector remains biggest hard currency earner Posted: 20 Jun 2012 09:04 AM PDT The garment and textiles sector remains the country's biggest hard currency earner with export revenues of 6.6 billion USD in the first half of the year. Deputy General Director of the Vietnam National Textiles and Garment Group (Vinatex) Le Tien Truong said at a June 20 meeting that the sector has maintained stable growth despite [...]

Fuel retail price cuts expected on strong global fall Posted: 20 Jun 2012 08:53 AM PDT As world oil prices have been steadily falling over the past few days, local fuel wholesalers said they are ready for another bout of price cuts by the Finance and Industry-Trade ministries. RON92 gasoline price in Singapore closed at US$101.6 per barrel on Monday, down by US$0.98 a barrel, or 0.96%, from the previous session. [...]

Wood industry looks to new markets Posted: 20 Jun 2012 08:52 AM PDT While outbound woodwork sales to European markets are on the wane given falling demand, a couple of new markets have emerged, providing a much-needed lifeline for local wood products exporters. There has been a sharp decline in outdoor furniture exports to the EU, said Nguyen Ton Quyen, vice chairman of the Vietnam Timber and Forest [...]

Ford showrooms extend opening hours Friday to spur sales Posted: 20 Jun 2012 08:47 AM PDT Ford Vietnam has announced it will hold a midnight sales event this Friday to promote sales to customers nationwide. The event will be opened from 8 a.m. on June 22 to 12 a.m. the next day in the Golden Chance Promotion at all Ford dealers. Vietnamese customers will have the opportunity to take home valuable [...]

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