Vietnam Business News

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• Power prices to follow market forces in July
• Exporters face trade lawsuits
• Forum focuses on trade links with Latin America
• City shares rise with 4.38 per cent GDP growth
• Bitexco tower slashes office rent
• Tokyu to develop traffic infrastructure in Binh Duong
• Overview on banking-monetary market in H1 2012
• June 28: Vietnam stocks rise on late trading
• Vietcombank: Bad debt still under control at 3 percent
• Businesses urged to change accounting year to ease pressure on auditors

Power prices to follow market forces in July Posted: 29 Jun 2012 12:19 AM PDT Power prices will be determined by market forces when the power market becomes competitive starting July 1, but there is little chance that the rates will go down, Deputy Minister of Industry and Trade Hoang Quoc Vuong said at a government meeting yesterday. "As of July 1, power generators are allowed to offer power selling [...]

Exporters face trade lawsuits Posted: 29 Jun 2012 12:03 AM PDT Export businesses must be better prepared to cope with the increasing number of anti-dumping and anti-subsidy lawsuits filed by the US, and other export markets, experts have warned. Export businesses play an integral part in dealing with anti-dumping and anti-subsidy lawsuits, according to Nguyen Chi Mai, former Director General of the Vietnam Competition Authority under the Ministry [...]

Forum focuses on trade links with Latin America Posted: 29 Jun 2012 12:02 AM PDT The Foreign Ministry will host the first ever Vietnamese-Latin American forum on trade and investment in Hanoi on July 5-6. At a press conference in Hanoi on June 28, DeputyForeign Minister Nguyen Phuong Nga said the forum aims to enhance trade and investment ties between Vietnam and Latin America . In carrying out its external [...]

City shares rise with 4.38 per cent GDP growth Posted: 28 Jun 2012 11:56 PM PDT Shares gained in HCM City this morning after the gross domestic product for the first half of this year was announced to have grown 4.38 per cent compared to the same period last year. On the HCM City Stock Exchange, the VN-Index edged up 0.54 per cent to 420.42 points. Advancers outnumbered decliners by 127-69. [...]

Bitexco tower slashes office rent Posted: 28 Jun 2012 11:55 PM PDT The 68-floor Bitexco Financial Tower is offering cut-price office leasing as the owner bids to fill the city's tallest building. The new leasing price ranges from VND615,000-VND1,130,000 per square meter, equivalent to US$30-55 – a huge drop from last year's US$39-65 psm. William P. Badger, marketing director of Bitexco Group, said that the cut in [...]

Tokyu to develop traffic infrastructure in Binh Duong Posted: 28 Jun 2012 11:52 PM PDT Japan's Tokyu Corporation and Becamex IDC Corporation on Wednesday clinched a cooperation memorandum on traffic system development in Binh Duong, after the two sides had got licensed to develop an urban area in the province. Takahashi Toshiyuki, executive officer of Tokyu Corporation, said the memorandum was aimed at developing a modern bus transit system and [...]

Overview on banking-monetary market in H1 2012 Posted: 28 Jun 2012 06:08 AM PDT Money supply on open market operations (OMO) en masse increased in the first quarter of this year but in the next three consecutive months, the State Bank of Vietnam (SBV) withdrew money with a total amount of up to more than 187 trillion dong. Implementing Resolution No 01/NQ-CP dated January 3, 2012 and Resolution No [...]

June 28: Vietnam stocks rise on late trading Posted: 28 Jun 2012 05:59 AM PDT Vietnamese stocks rose first time in 6 days on late trading on end-of-quarter effects and bottom fishing. The benchmark VN Index added 0.12 point or 0.03% to 418.16. Volume fell further by 2.2% to 42.9 million shares worth of VND776.5 billion. Put through trading contributed 8 million shares worth of VND291.85 billion. We saw 3.45 [...]

Vietcombank: Bad debt still under control at 3 percent Posted: 28 Jun 2012 05:56 AM PDT The Bank for Foreign Trade of Vietnam (Vietcombank) announced on June 26 that its bad debt is still under control at 3 percent. Deputy General Director of Vietcombank Nguyen Thu Ha attributed her bank’s low bad debt ratio to a careful credit policy and the timely control of loans and strict lending policies. By June [...]

Businesses urged to change accounting year to ease pressure on auditors Posted: 28 Jun 2012 05:55 AM PDT The new regulation that listed companies have to submit half-year finance reports with auditors' review has put a hard pressure on auditing firms, which have to take too many jobs in the high auditing season. June is coming to an end, and it is now the time for listed companies to make biannual finance reports [...]

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