DailyMarkets.com - US Mortgage Rates Jump While Consumer Confidence Rises
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DailyMarkets.com - US Mortgage Rates Jump While Consumer Confidence Rises |
US Mortgage Rates Jump While Consumer Confidence Rises Posted: 31 May 2013 05:06 AM PDT This week mortgage applications decreased 8.8% for the third week in a row. One possible reason for this decrease might be the rise in mortgage rates as well as home prices in the US. Home prices have increased 10.9% within the last 12 months since March 2012, which is above the estimated increase of 10.2%. This increase in house prices is the largest we've seen since 2006. Consumer confidence has also increased this month to the highest level since 5 years ago, with consumers becoming … [visit DailyMarkets.com to read more] or compare Credit Card Rewards or Best Credit Cards |
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The Business Times: Greater efforts for bad debt settlement | ![]() |
Greater efforts for bad debt settlement Posted: 30 May 2013 10:56 PM PDT Banks have spared no effort to deal with bad debts by different means in the hope of settling them for good. At the National Assembly (NA)'s plenary session on May 30, the State Bank of Vietnam (SBV) Governor Nguyen Van Binh said by April, total debts restructured by credit organizations for businesses had reached VND284,000 [...] |
SCB predicts interest rate cut Posted: 30 May 2013 10:56 PM PDT HCM CITY (VNS)– The Standard Chartered Bank said it expected a further cut of 50bps (0.5 per cent) in interest rate in the third quarter if authorities “remain comfortable with the inflation outlook and credit growth stays anaemic”. “We expect the SBV to lower the refinancing rate by another 50bps to 6.5 per cent in [...] |
Interbank trading dong -9%, dollar +20% in week ending may 24 Posted: 30 May 2013 10:56 PM PDT The total interbank trading value of the dong fell 9% to VND68.664 trillion in the week ending May 24 from VND75.531 trillion a week earlier while that of the dollar rose 20% to VND53.412 trillion from VND44.457 trillion. The total interbank trading value of the dong fell 9% to VND68.664 trillion in the week ending [...] |
The specter of inflation more worrying than deflation Posted: 30 May 2013 10:51 PM PDT Despite the low CPI increases over the last several consecutive months, the government of Vietnam does not intend to hurriedly loosen the monetary policy for the fear about the high inflation. The consumer price index (CPI) in May 2013 decreased by 0.06 percent in comparison with April. This was for the second time in the [...] |
Vietnam BIDV approved to raise charter capital to vnd28.112tln Posted: 30 May 2013 07:06 PM PDT BIDV got approval from the State Bank of Vietnam (SBV) to raise its charter capital in the first phase of 2013 from VND23.012 trillion to VND28.112 trillion, the central bank said in a post on its website. The Hanoi-based bank, officially known as Joint Stock Commercial Bank for Investment and Development of Vietnam, shall increase [...] |
Vietnam bond yield drops to 2007 low after sale; dong steady Posted: 30 May 2013 07:05 PM PDT Vietnam's bonds rose, sending the five-year yield to the lowest level since 2007, after borrowing costs fell at yesterday's government debt sale. The dong was little changed. The State Treasury sold 2 trillion dong ($95 million) of five-year notes to yield 7.78 percent yesterday, according to the Hanoi Stock Exchange website. That compares with 8.23 [...] |
VAMC will help to resolve vnd40-70tln bad loans in 2013, c.banker says Posted: 30 May 2013 07:05 PM PDT Vietnam's much-anticipated asset management company (VAMC) is expected to help the country to resolve between VND40 trillion and VND70 trillion in 2013. Vietnam's much-anticipated asset management company (VAMC), scheduled to come into life in Q2, is expected to help the country to resolve between VND40 trillion and VND70 trillion in 2013, said central bank governor [...] |
Bond issuances still a work in progress Posted: 30 May 2013 07:05 PM PDT Scores of big firms have issued corporate bonds this year, but not sufficiently to fully energise a full bond market recovery. Ho Chi Minh City Infrastructure Investment (CII) in late April announced the result for VND1 trillion ($48 million) worth of six-year corporate bond issuance that Vietcombank bought wholly with a fixed coupon rate of [...] |
Posted: 30 May 2013 07:05 PM PDT Some legislators in the discussions today said that they were still confused with publicized statistics, especially with respect to bad debts of commercial banks, the local newswire TTVN.vn reported. Some concerned that information on the financial and monetary market provided by the government was not close to the real situation. One important issue now is [...] |
Vietnam central bank to inspect gold bar trading activities Posted: 30 May 2013 07:05 PM PDT The State Bank of Vietnam (SBV) has asked its branches nationwide to inspect gold bar trading activities at credit institutions and gold firms in their respective areas, the central bank Contents of the inspection include gold traders' compliance with regulations on licensing and reporting regime for gold bar trading; on accounting mechanism, preparing and using [...] |
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The Business Times: US imposes anti-subsidy tariff on Vietnamese frozen shrimp | ![]() |
US imposes anti-subsidy tariff on Vietnamese frozen shrimp Posted: 29 May 2013 09:40 PM PDT The US Department of Commerce (DOC) announced on May 29 that it will impose anti-subsidy tariffs of nearly 63% on frozen shrimp imported from China, India, Malaysia, Thailand and Vietnam. In its preliminary decision, the DOC will impose countervailing duties on products imported from Thailand (2.09%), from China (5.76%), from Vietnam (7.05%), from India (11.32%) [...] |
Vietnam Airlines adds more than 3,600 summer flights Posted: 29 May 2013 09:39 PM PDT HA NOI— The national flag carrier Vietnam Airlines (VNA) will add 3,641 flights, equivalent to 700,000 seats, on eight domestic and four international routes from June 1 to August 31 in order to meet passenger demand during the summer peak season. More flights will travel between Ha Noi and Phu Quoc; HCM City, Nha Trang [...] |
Most legislators support tax exemption for VAMC Posted: 29 May 2013 09:37 PM PDT Many law-makers in the discussions today voiced to back the proposal to exempt corporate taxes for the to-be-established national asset management company (VAMC), reasoning that the company operates to not-for-profit deal with bad loans. Earlier, the finance-budget committee also agreed on the draft regulations to give tax incentives for VAMC, yet adding that the government should [...] |
Vietnam bond yield falls to 2007 low on rate outlook; dong drops Posted: 29 May 2013 08:19 PM PDT Vietnam's bonds gained, driving the benchmark five-year yield to the lowest since 2007, on speculation slowing inflation will prompt the central bank to cut interest rates. The dong dropped. The State Bank of Vietnam may lower its refinancing rate by 50 basis points to 6.5 percent next quarter if policy makers remain comfortable with the [...] |
Vietnam central bank switches to net injection of vnd198bln via OMO on may 29 Posted: 29 May 2013 08:19 PM PDT The State Bank of Vietnam (SBV) net injected VND198 billion through open market operations (OMO) on May 29, the local newswire NDHMoney.vn reported, citing data compiled by SSI Research. In details, the SBV pumped VND576 billion for 7-day window at 6% and withdrew VND378 billion. The central bank net withdrew VND97 billion a day earlier. [...] |
Price stabilization programme needs better co-ordination Posted: 29 May 2013 08:16 PM PDT he price-stabilized-product system should be developed nationwide and co-ordination among enterprises in creating a "goods reserve" should be improved, a conference was told on May 29. The Ministry of Industry and Trade recently held the conference to evaluate the price stabilization programme and to discuss how to expand it. Deputy Minister of Industry and Trade [...] |
Vietnam stock inflows at 5-year high on growth: Southeast Asia Posted: 29 May 2013 08:13 PM PDT International investors are buying the most Vietnamese stocks in five years, lured by Southeast Asia's cheapest valuations and government efforts to bolster economic growth. Overseas funds bought a net $254 million of Vietnamese stocks this year to May 28, the biggest year-to-date purchases since 2008, speculating corporate profits will grow for the first time since [...] |
Three scenarios for Vietnamese public debt/GDP in the next 15 years Posted: 29 May 2013 08:10 PM PDT Experts from National Economy University have provided three scenarios for Vietnamese public debt/ GDP for the next 15 years in their research "Public debt and the stability of Vietnam: pass, present and future" The best one based on assumption that Vietnam would successfully bring the economy back to the orbit of stable development and moderated [...] |
Formosa wants to increase capital to $28.5 billion Posted: 29 May 2013 08:10 PM PDT f this proposal is approved by the Government and the People’s Committee of Ha Tinh province, Formosa Ha Tinh will be the largest foreign-invested project in Vietnam. Formosa Group (Taiwan) has proposed to raise the capital in the steel project in Vung Ang Economic Zone, Ha Tinh to $28.5 billion. If the proposal is ratified, [...] |
Vietnam fertilizer imports up 10.2% to $583m in jan- may: GSO Posted: 29 May 2013 08:10 PM PDT Vietnam is estimated to have spent $583 million on importing 1.43 million tons of fertilizers in the first five months of this year, said the General Statistics Office (GSO). The figures represented year- on-year increases of 10.2% in value and 19.4% in volume, the government agency said on its website. In May, the country is [...] |
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