Vietnam Business News

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• Banks boost debt recovery by holding back staff salaries
• August 14: Vietnam stocks rise, MBB, VNM lead
• Lending rate cuts not enough to warm up realty market
• Many securities companies swim against the crisis stream
• In-flight bikini dance lands carrier VietJet Air in hot water
• Trade with Chile up 38% in first half
• SJC stops buying deformed gold bars as price rises
• Vietnam smartphone users to reach 21 pct by year-end
• Market to offer exchange-traded funds
• Thai-Cambodian trading zone to be established

Banks boost debt recovery by holding back staff salaries Posted: 14 Aug 2012 09:31 AM PDT Bank staff had seen 30 percent of their salary temporarily retained by the to 'encourage' staff to recover debts and reduce the climbing non-performing loan level- NPL The vice head of a credit department at one of Hanoi's large scale commercial banks said that due to a high bad debt level at the bank, bank [...]

August 14: Vietnam stocks rise, MBB, VNM lead Posted: 14 Aug 2012 09:30 AM PDT Vietnamese shares continued to close up today with support from heavy trading with rising price in MBB and ceiling performance of VNM. The benchmark VN Index added 3.3 points or 0.77% to 429.47. Volume rose 69.4% to 50.53 million shares worth of VND1,003 billion. Put through trading contribute 5.9 million shares worth of VND303.39 billion. [...]

Lending rate cuts not enough to warm up realty market Posted: 14 Aug 2012 09:28 AM PDT Lending rate downtrend offers homebuyers more chances to access financial assistance from banks, but experts deem it not enough to prop up the property market and lure buyers for investment purposes. Unlike the first two quarters, the third quarter so far has seen many apartment projects, mostly the mid-end ones, launched into the market. Apart [...]

Many securities companies swim against the crisis stream Posted: 14 Aug 2012 09:23 AM PDT Despite the economic recession, securities companies still could earn big money in the first six months of 2012, thanks to the upward trend of the market and the stable income from brokerage fees. The audited finance report of VNDirect Securities Company shows that 80 percent of the 26 companies operational in the finance field listing [...]

In-flight bikini dance lands carrier VietJet Air in hot water Posted: 14 Aug 2012 09:23 AM PDT An in-flight bikini dance on a VietJet Air flight early this month has landed the budget carrier in hot water. Civil Aviation Administration of Vietnam (CAAV) decided to fine VietJet Air VND20 million ($956) for organising a Hawaiian-themed dance on the airline's first flight between Ho Chi Minh City and Nha Trang. Five beautiful girls [...]

Trade with Chile up 38% in first half Posted: 14 Aug 2012 09:12 AM PDT Bilateral trade with Chile increased 38 per cent in the first six months of the year to a value of over US$321 million, according to the Chilean Trade Promotion Agency. During the period, the agency said, imports from Chile climbed 41 per cent year-on-year to $238.8 million, while export value stood at $82.6 million, an [...]

SJC stops buying deformed gold bars as price rises Posted: 14 Aug 2012 09:07 AM PDT Saigon Jewelry Co (SJC) Monday stopped buying back deformed gold bullion from local people who want to resell them. Nguyen Cong Tuong, deputy head of SJC sales department, told Tuoi Tre that the firm had to do so because it was running out of money. "We have bought back a lot of deformed SJC gold [...]

Vietnam smartphone users to reach 21 pct by year-end Posted: 14 Aug 2012 09:03 AM PDT The number of smart phone users in Vietnam is expected to rise to 21 percent from the current 16 percent of mobilephone users by this year's end, according to a recent research by Ericsson Consumer Lab (ECL). Tablet will also see the number of its users increase from 2 percent to 5 percent in the [...]

Market to offer exchange-traded funds Posted: 14 Aug 2012 09:02 AM PDT Exchange-traded funds are urgently needed and are expected to become operational on the Vietnamese stock market next year, the State Securities Commission has announced. Developing exchange-traded funds (ETFs) was a must, said Ha Noi Stock Exchange deputy director Nguyen Anh Phong. Only stocks, bonds and closed-end fund certificates were currently being traded on the market, [...]

Thai-Cambodian trading zone to be established Posted: 14 Aug 2012 08:56 AM PDT Thailand and Cambodia have recently held a workshop on the creation of ASEAN rice market and trading cooperation mechanism. Both nations agreed to set up a trading zone at the Thai-Cambodian border. According to Permanent Secretary for Commerce Yanyong Puangrach, the Thai-Cambodian meeting covered discussions on the establishment of a Thai-Cambodian trading zone. Thailand will [...]

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