The Business Times: Career firm expands operations in VN

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• Career firm expands operations in VN
• Lending over 4 months up 2.1%
• Vietnam central bank net injects vnd894bln via OMO on may 16
• Interbank trading dong -46%, dollar -39% in week ending may 10
• Gold demand in Vietnam declines by 17% in jan-mar: WGC
• Vietnam needs special system to handle bad debts & bankruptcy
• Vietnam incurs $937 million trade deficit in april
• DHL invests US$13 million in Vietnam supply chain
• Vinacomin claims end to Nhon Co bauxite project would cause major losses
• Easy access to capital makes for ineffective state-owned firms in vietnam

Career firm expands operations in VN Posted: 16 May 2013 11:39 PM PDT HA NOI (VNS)– The US-based human resources solution provider CareerBuilder on Tuesday announced plans to expand its operations in Viet Nam by opening a representative office in the country. The presence of CareerBuilder in Ha Noi is aimed to realise the company’s wish of becoming a bridge between employers and their potential employees while also [...]

Lending over 4 months up 2.1% Posted: 16 May 2013 11:38 PM PDT HA NOI (VNS)— The outstanding loans given by commercial banks have increased 2.11 per cent since December, according to the State Bank of Viet Nam (SBV). Foreign currency loans declined by 7.2 per cent, but dong-denominated loans climbed 4.15 per cent. Lending to agriculture and rural areas rose 3.1 per cent during the four-month period, [...]

Vietnam central bank net injects vnd894bln via OMO on may 16 Posted: 16 May 2013 11:36 PM PDT The State Bank of Vietnam (SBV) net injected VND894 billion through open market operations (OMO) on May 16 after it pumped VND1,000 billion and withdrew VND106 billion. The monetary authority sold no Treasury-bills yesterday, the local newswire NDHMoney.vn reported, citing data compiled by SSI Research. From March 15, 2012, the central bank issued in total VND288.731 trillion [...]

Interbank trading dong -46%, dollar -39% in week ending may 10 Posted: 16 May 2013 11:36 PM PDT The total interbank trading value of the dong declined by a half to VND59.436 trillion in the week ending May 10 from VND110.814 trillion two weeks earlier while that of the dollar fell 39% to VND47.008 trillion from VND76.619 trillion. The total interbank trading value of the dong declined by a half to VND59.436 trillion [...]

Gold demand in Vietnam declines by 17% in jan-mar: WGC Posted: 16 May 2013 11:31 PM PDT Gold demand in Vietnam fell 17% to 18.6 tons in the first quarter of 2013, World Gold Council (WGC) said yesterday. The fall was said to be explained by lower incomes among the population and control of the government over the domestic gold market. The demand for the precious metal stood at 22.4 tons in [...]

Vietnam needs special system to handle bad debts & bankruptcy Posted: 16 May 2013 11:29 PM PDT There should be a special system to deal with bad loans and bankruptcy of banks, said Danie Zuberbuehler, senior financial adviser at a talk show organized by the National Finance Supervision Committee (NFSC) yesterday. Danie said that in the long term Vietnam needs to change monitoring structure in two options. One is that the State [...]

Vietnam incurs $937 million trade deficit in april Posted: 16 May 2013 11:26 PM PDT Vietnam runs a trade deficit of $937 million in April after earnings $10 billion from exports, down 4.5% on month and spending $21 billion nearly $11 billion on imports, down 0.9% on month. Of the number, foreign investment enterprises exported $6.05 billion, down 4% from March and spent $6.03 billion on imports, down 2.2% on [...]

DHL invests US$13 million in Vietnam supply chain Posted: 16 May 2013 11:23 PM PDT The global leader for contract logistics solutions, DHL, announced on May 16 that it will inject US$13 million into Vietnam through 2015. The company expects to increase its staff by 170 percent, creating more than 1,400 new jobs and employing 2,200 people by 2015. The new DHL investment in Vietnam will include increasing its warehouse [...]

Vinacomin claims end to Nhon Co bauxite project would cause major losses Posted: 16 May 2013 10:49 PM PDT Vinacomin said that it had considered a halt to the Nhan Co bauxite project, but was scared about the major losses in its investment. Construction site of Nhan Co aluminum project At a press conference of the group on May 16, Vinacomin spokesman Nguyen Tien Chinh said, "We've spent a huge amount of money on [...]

Easy access to capital makes for ineffective state-owned firms in vietnam Posted: 16 May 2013 09:43 PM PDT Preferential policies provide state-owned groups with easier access to capital than private companies, but they perform less effectively. The Statistical Handbook of Vietnam for 2011, recently released by the General Statistics Office, shows that that state-run enterprises accounted for only one percent of the country's overall firms, but these companies still saw the biggest increases [...]

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