Vietnam Business News

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• Buyers suck up cheap stocks
• Domestic airlines rent more aircraft
• DongA bank participates in IFC’s financial support
• Investment environment feared to be worsening
• Can Tho hosts international trade fair
• Deutsche Bank ups stake in dairy giant Vinamilk
• VASEP optimistic about seafood exports
• Global interbank payments up 13%
• Vietnam, Cambodia cement legislative ties
• Fuel prices rise again, with more to come

Buyers suck up cheap stocks Posted: 29 Aug 2012 08:39 AM PDT The stock market bounced back during today, as investors bought cheap shares after a market big drop. Investors rushed to bid for shares and demand strongly increased for speculative stocks in the real estate, mineral and securities sectors and in PetroVietnam-family stocks. Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Sao Mai Construction Corp. (ASM), Becamex [...]

Domestic airlines rent more aircraft Posted: 29 Aug 2012 08:38 AM PDT Private airlines Air Mekong and JetStar Pacific will rent more planes from their foreign partners to keep up with rising demand in the local market. Two more Airbus A321 airplanes will be leased to Mekong Aviation Joint Stock Co, or Air Mekong, bringing the total number of aircraft in its local fleet to six, said [...]

DongA bank participates in IFC’s financial support Posted: 29 Aug 2012 08:37 AM PDT The DongA Commercial Joint Stock Bank (DongA Bank) will join the International Finance Corporation (IFC) in a joint global financial support programme to help businesses access more capital. Under the contract signed between the two sides in Ho Chi Minh City on August 29, IFC will provide a guarantee worth 20 million USD to DongA [...]

Investment environment feared to be worsening Posted: 29 Aug 2012 08:35 AM PDT  Experts at a forum in Hanoi on Tuesday were worried that the flow of foreign direct investment (FDI) into Vietnam will dwindle due to macroeconomic uncertainty and the trend of business liberalization in ASEAN. Several economists voiced concerns at the Finance-Banking Investment Forum, saying Vietnam is losing its advantages in attracting FDI due to its [...]

Can Tho hosts international trade fair Posted: 29 Aug 2012 08:35 AM PDT Many Vietnamese and foreign businesses from Japan, Taiwan, Laos and Malaysia took part in an international trade fair opened on August 28th at the Can Tho Exhibition Fair Centre by the Can Tho City People's Committee and Ministry of Industry and Commerce. It is one of the activities in Can Tho City to celebrate the [...]

Deutsche Bank ups stake in dairy giant Vinamilk Posted: 29 Aug 2012 08:35 AM PDT Deutsche Bank has acquired 3.55 million shares in Vinamilk (VNM), increasing its stake in the dairy processor to 5.42 percent, Vinamilk announced on Aug. 28. The transaction was completed on August 15 with a final transfer of nearly 3.7 million shares worth an estimated 415 billion VND (19.7 million USD). Prior to the purchase, the German bank held a 4.78 percent stake in Vinamilk. [...]

VASEP optimistic about seafood exports Posted: 29 Aug 2012 01:46 AM PDT The Vietnam Association of Seafood Exporters and Producers (VASEP) is confident that seafood exports are likely to meet the yearly target of US$6.5 billion. VASEP said that despite various difficulties confronting the sector, the situation in the third quarter of this year is expected to improve with an estimated turnover of US$1.84, representing an increase [...]

Global interbank payments up 13% Posted: 29 Aug 2012 01:44 AM PDT International payments from Vietnam via SWIFT had increased by 13 per cent a year, it was announced yesterday during the annual seminar o­n the Society for World-wide Interbank Financial Telecommunication. The seminar aimed to provide latest information about SWIFT’s performance and discuss the upcoming Singapore Inter-Bank Offered Rate 2012 – (Sibos 2012) conference and exhibition to be [...]

Vietnam, Cambodia cement legislative ties Posted: 29 Aug 2012 01:43 AM PDT Vietnam and Cambodia have exchanged delegations at all levels to share legislative and inspection experiences as well as supporting each other at multilateral forums. At a reception for the Chairman of the Cambodian Senate's Committee on Finance, Banking and Audit in Hanoi on August 28, National Assembly Vice Chairman Huynh Ngoc Son underscored the significant [...]

Fuel prices rise again, with more to come Posted: 29 Aug 2012 01:41 AM PDT Retail petrol prices yesterday increased by VND650 (US$0.033) per litre to VND23,650 while diesel rose by VND300 per litter to VND21,850. The move was made when the oil prices on the global market increased by 13.24 per cent against the previous month; diesel prices went up 8.66 per cent; kerosene went 9.59 per cent and [...]

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