The Business Times: Glut of companies struck with Q1 losses

---

• Glut of companies struck with Q1 losses
• Analysts see more mutual funds going open-ended
• Finance group urges rate cut
• Vietnam fears millions of tons of rice unsalable on the world’s low demand
• Planned oil refinery capacity increased
• Vietnam textile sector expects 15% rise in 2013: vitas
• Quang Nam festival focuses on heritage values
• Vietnam to investigate PVN, EVN, TKV strategic agreement
• Tech forum on marine economy development
• Pardon given to non-complying FIEs

Glut of companies struck with Q1 losses Posted: 08 May 2013 12:14 AM PDT Over 60 listed companies, most of which are brokerage companies and firms operating in the shipping and building material sectors, reported losses during the first quarter of this year. In the securities sector, draining liquidity on the stock market saw brokerage revenues for most companies shrink, with small securities businesses in general losing out to [...]

Analysts see more mutual funds going open-ended Posted: 08 May 2013 12:14 AM PDT Vietnam has already seen one mutual fund switch from being closed-end to open-end, and analysts expect this to become a trend soon. VFA, owned by fund manager VFM, last March became an open-end fund. As of September last year it had gross assets of VND169.2 billion (US$8.1 million). Pham Khanh Lynh, VFM's deputy director, said [...]

Finance group urges rate cut Posted: 08 May 2013 12:08 AM PDT The National Financial Supervisory Committee has suggested a further cut in the deposit interest-rate cap to 7 per cent to bring down lending rates to around 10 per cent. “We now have enough conditions to further slash both lending and deposit interest rates,” committee chairman Vu Viet Ngoan said. He said if the deposit interest-rate [...]

Vietnam fears millions of tons of rice unsalable on the world’s low demand Posted: 08 May 2013 12:07 AM PDT Vietnam's rice exports have got stuck with the high inventory of 2 million tons of winter-spring rice by the end of the second quarter. Meanwhile, it is going to harvest 3.5 million tons of the summer-autumn rice. Cheap rice cannot find buyers A report of the Vietnam Food Association (VFA) showed that Vietnam exported 2.151 [...]

Planned oil refinery capacity increased Posted: 08 May 2013 12:03 AM PDT The planned Vung Ro oil refinery project in central Phu Yen province would increase investment capital from US$1.7 billion to $3.18 billion and its capacity would be doubled to 8 million tonnes a year. The investment licence was being adjusted accordingly, the provincial People”s Committee said. The oil refinery would be built in Hoa Tam [...]

Vietnam textile sector expects 15% rise in 2013: vitas Posted: 08 May 2013 12:01 AM PDT Vietnam's textile and apparel exports are expected to grow by 15 percent during 2013, according to the Vietnam Textile and Apparel Association (VITAS). Vietnamese textile & apparel sector witnessed a rise of 32 percent in exports during 2005-11. Last year, the country's textile and clothing exports earned US$ 17.15 billion, registering an increase of 8.5 [...]

Quang Nam festival focuses on heritage values Posted: 08 May 2013 12:00 AM PDT Hoi An ancient town and My Son relic site, both the world's heritage sites, will be open free-of-charge to visitors during the fifth Quang Nam Heritage Festival 2013, which is slated for June 21-26. The move aims to lure more people to the Quang Nam festival, whose main activities will take place in the two [...]

Vietnam to investigate PVN, EVN, TKV strategic agreement Posted: 07 May 2013 09:02 PM PDT Strategic agreement among PVN, EVN and TKV will be investigated. The Ministry of Industry and Trade (MOIT) has requested the Department of Competitiveness Management to have a deep look into strategic agreement among Vietnam National Oil And Gas Group or PetrolVietnam (PVN), the Electricity of Vietnam (EVN)  and the Vietnam National Coal – Mineral Industries Holding [...]

Tech forum on marine economy development Posted: 07 May 2013 08:57 PM PDT A forum and exhibition on technology serving the development of Vietnam's marine economy is taking place in the northern coastal city of Haiphong from May 7-8. The first-ever event, jointly held by the Ministry of Natural Resources and Environment (MONRE) and the Vietnam Administration of Sea and Islands (VASI), aims to assess the current situation [...]

Pardon given to non-complying FIEs Posted: 07 May 2013 08:44 PM PDT Those foreign-invested enterprises (FIEs) that failed to renew their expired investment certificates before July 1, 2011 may be saved from dissolution as the Government decides to remove such a requirement. At the recent meeting, the Government members reached an agreement on proposing the National Assembly (NA) amend Article 170 of the 2005 Enterprise Law, in [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610