Saturday, November 10, 2012

Vietnam Business News

Vietnam Business News

Merger rumours surround Sacombank, Eximbank

Posted: 09 Nov 2012 07:35 AM PST

Speculation surrounding the potential merger of the banks Sacombank (STB) and Eximbank (EIB) has increased in recent days after the departure of STB founder and chairman Dang Van Thanh and a big increase in share activity. On Tuesday, 21.3 million EIB shares swapped hands at a value of VND15,300 (US$0.7) each. Sixty-three million stocks were [...]


VPBank allowed to increase charter capital

Posted: 09 Nov 2012 07:28 AM PST

The Governor of the State Bank of Viet Nam has given the Viet Nam Prosperity Commercial Joint Stock Bank (VPBank) the green light to increase its charter capital to VND5.7 trillion (US$271.4 million) from its current VND4.43 trillion ($211 million). Issued under Decision No 7205/NHNN-TTGSNH, the capital will be taken from undistributed profits and additional [...]


Petrol traders ordered to stop abusing stabilisation fund

Posted: 09 Nov 2012 07:26 AM PST

Domestic retail prices for petrol and oil will remain unchanged, while petrol traders have been asked to stop using the fuel stabilisation fund as they are making profits from petrol, the Ministry of Finance has said. The ministry sent the requirement to petroleum wholesale traders, saying the difference between base price and retail price showed [...]


Vietnam leads Asian hotel growth list

Posted: 09 Nov 2012 07:25 AM PST

Vietnam takes the lead in the growth of the Asian hotel sector with a forecast annual rate of 15 per cent for the 2012-16 period, according to the World Travel Market’s Global Trend Report 2012 in association with Euromonitor International. Vietnam was followed by the Republic of Korea, India, Uzbekistan, Malaysia, China and the Philippines, [...]


Vietnam hurries to put a brake on FDI decrease

Posted: 09 Nov 2012 07:23 AM PST

The Ministry of Planning and Investment (MPI) has been straining every nerve to find out the solutions to stop the decrease of the foreign direct investment (FDI) flow. The FDI to Vietnam reached its peak in 2008, when Vietnam attracted a record high registered capital of 71.7 billion dollars. In 2009, the FDI flow dropped [...]


Vietnam’s coffee plan: the next prestige global brand

Posted: 09 Nov 2012 07:23 AM PST

Vietnam’s “Coffee King” sips tea as he appraises the crowded tables at a Swiss branch of Starbucks. Dang Le Nguyen Vu may not rate the coffee, preferring the brand from Vietnam’s top processor which he heads, earning him the regal epithet. But the U.S. chain is in his sights as a marketing model for Vietnam, [...]


Vietnam seeks Swiss finance, banking assistance

Posted: 09 Nov 2012 07:22 AM PST

Vietnam welcomed the coming of high-quality, experienced Swiss experts on banking and finance consultation and supervision as it is seeking help to strengthen the finance-banking system. Deputy Prime Minister Vu Van Ninh praised the idea of providing experts in the field for Vietnam, especially for the National Financial Supervisory Commission of Vietnam, initiated by Swiss [...]


Vietnam considers international trade cooperation as key strategy

Posted: 09 Nov 2012 07:22 AM PST

Vietnam hopes to integrate extensively and comprehensively with the world, focusing on international economic integration, said Foreign Ministry's spokesperson Luong Thanh Nghi on November 8. Nghi made the statement in response to reporters' question that in light of Vietnam's high ratio of trade turnover with China does the country want to increase trade ratio with [...]


Vietnamese handicrafts on show in Germany

Posted: 09 Nov 2012 07:21 AM PST

Vietnamese handicraft producers are showcasing their products at the Import Shop Berlin, one of the biggest sale exhibitions in the Europe. Deputy Director of Hanoi’s Department of Industry and Trade Nguyen Thi Nhu Mai described the event as an excellent opportunity for local handicraft makers to better understand the market demand and increase trade. The [...]


Stock exchanges experience fall

Posted: 09 Nov 2012 07:21 AM PST

Both stock exchanges experienced a fall in transactions on November 8. The VN-Index on the HCM Stock Exchange gained 1.23 percent to reach 385.60 points. Transaction value on the bourse dropped slightly to 364.45 billion VND (17.3 million USD), as 23.3 million shares changed hands. Of the 30 leading shares tracked by the VN30, advancers [...]


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