Vietnam Business News

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• Lower interest rates cause medium and small banks difficulties
• What scenario for Bao Viet when Hsbc “says Goodbye?”
• Credit growth of HCM city banks in july estimated at 0.5% month-on-month
• Credit growth of Hanoi banks in july estimated at 2.65% month-on-month
• July 24: Vietnam shares plunge on massive selling
• Garments companies in big distress because of EU market fall
• Lifebuoys for southern hub firms
• Vietnam-South Korea power up their friendship
• Banks asked to submit report on corporate credit programs
• Export value to India on the rise

Lower interest rates cause medium and small banks difficulties Posted: 24 Jul 2012 06:09 AM PDT HCMC Law newspaper interviewed former director of the Banking Development Strategy Department Dr. Le Xuan Nghia on his views about the effect of lower interest rates on local banks and enterprises. Although lending rates have been lowered, only some enterprises have been allowed to borrow money at the new rate. What do you think of [...]

What scenario for Bao Viet when Hsbc “says Goodbye?” Posted: 24 Jul 2012 06:08 AM PDT Experts believe that it would be much better for Bao Viet if HSBC takes leave of Bao Viet and gives up the place to another partner who is an insurer. Reuters last week quoted its sources as saying that HSBC is seeking partners who agree to buy 18 percent of Bao Viet's stakes from the [...]

Credit growth of HCM city banks in july estimated at 0.5% month-on-month Posted: 24 Jul 2012 06:07 AM PDT The total deposits of HCM City-based credit institutions till the end of July are estimated to have reached 963.8 trillion dong, rising 1.5 percent month on month and 13.5 percent on year. As reported by HCM City Statistics Bureau, the total deposits of HCM City-based credit institutions till the end of July are estimated to [...]

Credit growth of Hanoi banks in july estimated at 2.65% month-on-month Posted: 24 Jul 2012 06:07 AM PDT Hanoi Statistics Office has recently said that the total deposits of Hanoi-based credit institutions in July are estimated to have reached 843.912 trillion dong, rising 2.49 percent from the previous month and 2.69 percent from December 2011. Of which, savings rose 1.55 percent month on month and 12.29 percent against December 2011, valuable paper issuances [...]

July 24: Vietnam shares plunge on massive selling Posted: 24 Jul 2012 06:05 AM PDT Vietnamese shares tumbled today as investors sold shares on massive fashion to cut minimize risks as the index broke down the support area. The benchmark VN Index fell for a third straight session, losing 6.36 points or 1.51% to 415.63. Volume fell further by 11.5% to 44.8 million shares worth of VND659.4 billion. Put through [...]

Garments companies in big distress because of EU market fall Posted: 24 Jul 2012 06:03 AM PDT The public debt crisis in Europe has dealt a strong blow to Vietnamese garment companies which have been sitting idle because of no orders. The door to EU market narrowed The public debt crisis in the Eurozone has forced the governments and people to apply the contractionary policy for a long time, which has led [...]

Lifebuoys for southern hub firms Posted: 24 Jul 2012 06:01 AM PDT Ho Chi Minh Citybankers are providing soft loan lifebuoys to companies. Sacombank on July 17 offered loans totalling VND1.11 trillion ($53 million) to 16 companies at an annual rate of 13 per cent for the first three months. The firms produce and supply consumer goods, foods, pharmaceuticals, building materials and machinery are eligible. Dong Tam [...]

Vietnam-South Korea power up their friendship Posted: 24 Jul 2012 06:00 AM PDT Vietnam-South Korea are energising their cooperation. South Korean Deputy Minister of Knowledge and Economy (MKE) Yoon Sang Jick told last week's forum for the 20th anniversary of the South Korea-Vietnam Economic Cooperation Programme that the bilateral trade turnover would reach $20 billion this year from 2011's $18.5 billion. That is a giant 40-fold jump against [...]

Banks asked to submit report on corporate credit programs Posted: 24 Jul 2012 05:58 AM PDT The State Bank of Vietnam has asked credit institutions and foreign banks in the country to report on credit programs and services that they are offering this year to help enterprises overcome their financial difficulties. As per a recent resolution made by the Government stipulating a number of measures to support troubled enterprises and to [...]

Export value to India on the rise Posted: 24 Jul 2012 05:58 AM PDT Two-way trade between Vietnam and India has so far this year reached 1.845 billion USD, a year-on-year rise of 0.45 percent, according to the Export-Import Department under the Ministry of Industry and Trade. Of the figure, Vietnam earned 755 million USD from exports to India , up 22.6 percent, while importing goods worth 1.09 billion [...]

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