Vietnam Business News

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• Hanoi CPI falls 0.29% in July
• Roadmap for ATM transaction charges needed
• HSBC sounds the retreat from Vietnamese finance group
• Petrol price stabilisation fund needs a new management form
• Stocks remain up on improved trading
• S-Fone to pay their former workers VND43 billion
• Vietnam, RoK promote trade ties
• FTAs expected to pave the way for apparel exports
• New rule limits trading by idle brokerages

Hanoi CPI falls 0.29% in July Posted: 20 Jul 2012 03:59 AM PDT Hanoi's consumer price index (CPI) fell by 0.29% in July, according to the latest figures from the Hanoi Statistics Office. Data shows that Hanoi's consumer prices in July were up 2.27% compared to the end of 2011 and up 4.64% from a year ago. Last month, Hanoi's CPI also fell by 0.17%. The drop in [...]

Roadmap for ATM transaction charges needed Posted: 20 Jul 2012 03:59 AM PDT The move by commercial banks to charge arbitrary ATM transaction fees has prompted the need to design a reasonable fee table that will benefit both banks and customers. Recently, numerous reports have accused commercial banks of charging unreasonable ATM transaction fees. Customers complained that they were charged VND3,300 for printing a statement or transferring money [...]

HSBC sounds the retreat from Vietnamese finance group Posted: 20 Jul 2012 03:57 AM PDT The London based Hong Kong and Shanghai Banking Corporation (HSBC) reportedly plans to sell the shares it is holding of Vietnamese Bao Viet, a big insurance group, in an effort to gather its strength to deal with the financial problems and the possible heavy penalty in a money laundering lawsuit. The board of directors of [...]

Petrol price stabilisation fund needs a new management form Posted: 20 Jul 2012 03:57 AM PDT Many enterprises have incurred losses and unfair treatment due to mismanagement of the petrol price stabilisation fund. Many say the current system is unfair  While there is no law regulating the formation of this fund, the Pricing Ordinance and the government's decree on financial measures mention that the fund will be used to stabilise the [...]

Stocks remain up on improved trading Posted: 20 Jul 2012 03:56 AM PDT Stocks advanced steadily this morning on the HCM City Stock Exchange, extending the improved run for the fourth day. The benchmark VN-Index closed up another 0.4 per cent to 430.08 points, on a total value of VND769.2 billion (US$36.6 million), up 30 per cent from yesterday morning’s level. Blue chips gained again, with the VN30 [...]

S-Fone to pay their former workers VND43 billion Posted: 20 Jul 2012 03:45 AM PDT S-Fone’s biggest shareholders, Saigon Post and Telecommunications Services Corporation (SPT), will pay former S-Fone employees their severance packages in installments. S-Telecom Mobile Phone Center, whose network brand name is S-Fone, was established by SPT along with three foreign partners. In 2010 SPT and its South Korean partner, SK Telecom announced a change in their partnership [...]

Vietnam, RoK promote trade ties Posted: 20 Jul 2012 03:44 AM PDT A seminar to foster trade ties between Vietnam and the Republic of Korea (RoK) was held in Hanoi on July 19, as part of activities to mark the 20th anniversary of the two countries' diplomatic ties. According to Deputy Minister of Industry and Trade Tran Quoc Khanh, Vietnamese commodities such as seafood, wooden products, rubber [...]

FTAs expected to pave the way for apparel exports Posted: 20 Jul 2012 03:43 AM PDT Vietnam's garment and textile exports have registered an annual growth of 25-30 percent in recent years, earning 15.6 billion USD in 2011. In comparison with the world's annual apparel consumption of about 350-400 billion USD, Vietnam 's share is still modest, but there are expected to be more opportunities for the country's garment and textile [...]

New rule limits trading by idle brokerages Posted: 20 Jul 2012 02:58 AM PDT The State Securities Commission on Tuesday announced a new regulation for securities companies that continued trading but no longer operated brokerage services, limiting them to only one trading account at other brokers. The commission said: “Securities companies that engage in trading by themselves are allowed to open only one account and shall not open any [...]

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