Thursday, July 5, 2012

Vietnam Business News

Vietnam Business News

Banks getting bore to death with gold

Posted: 05 Jul 2012 12:38 AM PDT

The tightened regulations on gold mobilization and lending, the new policies on the gold market management, plus the gold price going downward have all made commercial banks get tired of gold. On June 25, 2012, the State Bank released a document requesting commercial banks to stop mobilizing and lending in gold on schedule following the [...]


July 4: Vietnam stocks plunge further on economic growth concerns

Posted: 04 Jul 2012 08:06 AM PDT

Vietnamese stocks continued to fall as investors cut loss on concerning over Q2 earnings and economic growth outlook, money flows were weak. The benchmark VN Index lost 2.36 points or 0.57% to 410.73. Volume fell by 36.14% to 27.6 million shares worth of VND354.92 billion. Put through trading contributed 1.4 million shares worth of VND23.32 [...]


Taxi fares, haulage rates to go down in July

Posted: 04 Jul 2012 08:05 AM PDT

Nguyen Manh Hung, chairman of the Vietnam Automobile Transport Association, on Tuesday said the association has instructed transport businesses to lower their haulage rates, in view of a further reduction in the price of petrol. Since the beginning of the year, petrol and diesel prices have been slashed five times to total a decrease of [...]


Filipino businesses keen to enter VN’s market

Posted: 04 Jul 2012 08:04 AM PDT

A delegation of Filipino businesses that operate in processed food, confectionary, dried fruit, mining and cosmetics are visiting HCM City from July 4-5 to boost trade relations with Vietnamese partners. At a trade exchange between both business communities on July 4, Bui Thi Thanh An, Deputy Head of the Trade Promotions Department at the Ministry [...]


Laos company builds new factory in Ha Tinh

Posted: 04 Jul 2012 08:03 AM PDT

A ground breaking ceremony for a wood processing plant funded by Laos was held in the central province of Ha Tinh on July 4. Speaking at the ceremony, the Chairman of the provincial People's Committee, Vo Kim Cu, said that the construction of the factory is just one of the activities marking the 50th anniversary [...]


Oil import taxes up, petrol prices down

Posted: 04 Jul 2012 08:02 AM PDT

Import taxes on some petroleum products on July 3 increased by 2 per cent, the Ministry of Finance announced. It was the fifth time that fuel taxes have changed this year. According to Circular 109/2012/TT-BTC, tariffs on RON 97 Oil, naphtha, reformate and alpha olefin rose from 10 per cent to 12 per cent. Diesel [...]


Over 800 businesses join Vietbuild exhibition

Posted: 04 Jul 2012 08:01 AM PDT

The International Exhibition for Construction, Building Materials, Housing and Interior Decor (Vietbuild) got underway in Ho Chi Minh City , on July 4. Jointly held by the Information Centre, the Ministry of Construction and the AFC International Exhibition Joint Stock Company, the 2,200-stand exhibition has attracted over 800 businesses from 22 countries and territories. The [...]


Export to Myanmar rises 65.6% in first half

Posted: 04 Jul 2012 07:58 AM PDT

The two-way trade between Vietnam and Myanmar surged 65.6% in the first half of this year to some US$130 million, according to the General Department of Vietnam Customs. Of the figure, Vietnam shipped some US$50 million of goods to Myanmar in the reviewed period, up 36.3%, and imported US$80 million worth of products from the [...]


Bullion edges up in Vietnam

Posted: 04 Jul 2012 07:57 AM PDT

Price of gold in Vietnam edged up VND140,000 a tael (1.2 ounces) on July 4, after surge in global price. Saigon Jewelry Company, the biggest gold processer and trader in Vietnam, bought gold at VND41.95 million, and sold at VND42.10 million in HCMC; and VND42.12 million in Hanoi and the central city of Da Nang [...]


Mekong Delta exports 2.7 million tonnes of rice

Posted: 04 Jul 2012 07:56 AM PDT

The Mekong Delta has so far this year shipped abroad 2.7 million tonnes of rice worth 1.25 billion USD. According to provincial Departments of Industry and Trade in the Mekong Delta, the region's rice is mainly exported to Asian and African markets with an average price of 464 USD per tonne. This year, the region's [...]


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