Vietnam Business News

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• Vietnam credit growth forecasted at 5% in 2012, says VCBS
• Sacombank’s Former Chairman under investigation: New Chairman
• Vietnam central bank prepares VND28Tln to support Sacombank
• Vietnam central bank injects VND5.4Bln via OMO on Nov 2
• Golden sales promotion days
• ABC wants to produce Vietnamese tourism programmes
• Russia-Vietnam trade turnover surges
• Rice export may reach 7.5 milion tonnes
• Industrial output rises 4.5 pct in 10 months

Vietnam credit growth forecasted at 5% in 2012, says VCBS Posted: 04 Nov 2012 06:59 PM PST Total lending of the entire banking sector is expected to grow by 5% this year, according to the latest report of the Vietcombank Securities Company (VCBS). Local lenders are cautious in extending credits amid high bad debt ratio of 8.8-10% and piling inventory in stock, VCBS commented. The securities firm assessed that there is no [...]

Sacombank’s Former Chairman under investigation: New Chairman Posted: 04 Nov 2012 06:58 PM PST Dang Van Thanh, former chairman of the board of directors of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), is under investigation, said the bank's new chairman Pham Huu Phu. Thanh, who stepped down from his position on Friday, was invited to work with local investigating agencies on the same day, said Phu, former deputy [...]

Vietnam central bank prepares VND28Tln to support Sacombank Posted: 04 Nov 2012 06:58 PM PST The State Bank of Vietnam (SBV) has prepared VND28 trillion to support liquidity for Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank or STB). The State Bank of Vietnam (SBV) has prepared VND28 trillion to support Saigon Thuong Tin Commercial JS Bank (Sacombank or STB), said Nguyen Hoang Minh, Vice Director of the muncipal central [...]

Vietnam central bank injects VND5.4Bln via OMO on Nov 2 Posted: 04 Nov 2012 06:58 PM PST The State Bank of Vietnam (SBV) pumped VND5.396 billion at 8% p.a. for 7-day window via open market operations (OMO) last Friday, the local newswire Gafin.vn reported, citing data from the State Bank of Vietnam (SBV). This marks the biggest monetary injection of the central bank through OMO since August 22, when the SBV had [...]

Golden sales promotion days Posted: 04 Nov 2012 06:57 PM PST Customers of 25 golden places around Hanoi are enjoying 20–50 percent discounts on a variety of products and services including food, beverages, garments, and electronic appliances. The number of customers at supermarkets such as Big C, Fivimart, Hiway, HC, Topcare and Pico is perpetually growing, especially in more recent days. Thanks to thorough preparation, however, [...]

ABC wants to produce Vietnamese tourism programmes Posted: 04 Nov 2012 06:55 PM PST The Japanese telecommunications group of Asahi Broadcasting Corporation (ABC) is planning to produce some programmes to introduce tourist landmarks in Ho Chi Minh City and Vietnam as a whole. ABC General Director Satoshi Wakisaka released the plan at a talk with Vice Chairman of the Ho Chi Minh City People's Committee Le Manh Ha on [...]

Russia-Vietnam trade turnover surges Posted: 04 Nov 2012 06:54 PM PST Trade between Russia and Vietnam is growing robustly, according to Russia's Ministry of Economic Development in its announcement on November 2. The Ministry reported that in the first eight months of 2012, two-way trade turnover exceeded 2.5 billion USD, a year-on-year soar of 49.7 percent. The figure included Russia 's exports to Vietnam of 1.079 [...]

Rice export may reach 7.5 milion tonnes Posted: 04 Nov 2012 06:54 PM PST Rice export is likely to reach 7.5 million tonnes this year, taking into account more than one million tonnes to be shipped throughout December under signed contracts, according to the Vietnam Food Association (VFA). In the first 10 months of this year, exporters sold abroad more than 6.4 million tones of rice, earning 2.9 billion [...]

Industrial output rises 4.5 pct in 10 months Posted: 04 Nov 2012 06:53 PM PST The nation's industrial production increased 4.5% in the first 10 months of this year compared to the same period last year, announced the General Statistics Office (GSO). The figure represented a slight slowdown from the 4.7% growth recorded in the first eight months of this year, and was about half of the rate of growth [...]

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