The Business Times: Dollar price increase raises rumor about dong devaluation

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• Dollar price increase raises rumor about dong devaluation
• banks raise forex rates on surging short-term demand
• Vietnam to cut export tax for gold items to 1-2%: draft
• Who dares sell “big SOE guys”?
• Nation’s largest construction expo opens in HCM City
• Overseas vietnamese face strict car rules
• French cosmetics firms seek Vietnamese partners
• Vietnam tightens regulations on gold trading
• Bad debts decrease, but worries still exist
• Monetary and fiscal policies go their separate ways

Dollar price increase raises rumor about dong devaluation Posted: 14 Jun 2013 12:50 AM PDT Commercial banks all have raised the dollar selling price to the ceiling level of VND21,036 per dollar. The State Bank's Exchange late last week quoted the selling price at VND21,360 per dollar. These are the signals for a new dong/dollar exchange rate adjustment? The dollar prices quoted by commercial banks on June 12 showed the [...] The post Dollar price increase raises rumor about dong devaluation appeared first on Vietnam Business News.

banks raise forex rates on surging short-term demand Posted: 14 Jun 2013 12:50 AM PDT Many local banks have increased the bid and ask price for US dollar due to rising short-term demand. Though the benchmark inter-bank foreign exchange rate at the State Bank of Vietnam (SBV) is still quoted at VND20,828 per US dollar, unchanged from December 24, 2011, the real market rate has started to pick up at [...] The post banks raise forex rates on surging short-term demand appeared first on Vietnam Business News.

Vietnam to cut export tax for gold items to 1-2%: draft Posted: 14 Jun 2013 12:48 AM PDT Vietnam may cut export tax for some gold items to 1-2%, irrespective of gold content, as stated in a draft circular to amend regulations on export taxes for gold items recently disclosed by the finance ministry. In details, gold (including platinum-plated gold) in unprocessed or semi-manufactured or powder forms will be subject to export tax [...] The post Vietnam to cut export tax for gold items to 1-2%: draft appeared first on Vietnam Business News.

Who dares sell “big SOE guys”? Posted: 14 Jun 2013 12:46 AM PDT The equitization of state owned enterprises (SOEs) has got stuck. Weak enterprises cannot find the buyers, while no state's official dares to make decisions on selling good enterprises with the prefix of "Vina" in their names, because they fear they mistakenly sell the enterprises at a loss. Speeding up the SOE equitization is the important [...] The post Who dares sell "big SOE guys"? appeared first on Vietnam Business News.

Nation’s largest construction expo opens in HCM City Posted: 14 Jun 2013 12:43 AM PDT HCM CITY (Biz Hub) — Eight-hundred companies and business groups from 18 countries and territories are taking part in VietBuild 2013 exhibition, which opened on Thursday (June 13) in the Sai Gon Exhibition and Convention Centre. The five-day event, the country’s largest exhibition for the construction industry, includes 2,200 booths displaying products, internal and external [...] The post Nation’s largest construction expo opens in HCM City appeared first on Vietnam Business News.

Overseas vietnamese face strict car rules Posted: 14 Jun 2013 12:42 AM PDT Overseas Vietnamese may have to satisfy stricter regulations to claim exemption from import tax and value added tax on cars and motorbikes they bring back home. Regulations to this effect are now being drafted by the Ministry of Finance. The new rules apply to overseas Vietnamese with or without permanent residence in Viet Nam. The [...] The post Overseas vietnamese face strict car rules appeared first on Vietnam Business News.

French cosmetics firms seek Vietnamese partners Posted: 14 Jun 2013 12:40 AM PDT A delegation of French businesses will meet Vietnamese partners in Hanoi and Ho Chi Minh City from June 16-19. They will introduce local buyers to a wide range of products including those for beauty institutes and spas, mothers-to-be and new moms, perfumes, air fresheners and nail polish from France's leading cosmetic companies such as Groupe Batteur, Gemology, Morjana, Teance, Beac and [...] The post French cosmetics firms seek Vietnamese partners appeared first on Vietnam Business News.

Vietnam tightens regulations on gold trading Posted: 13 Jun 2013 08:36 PM PDT VIETNAM’s central bank has instilled new rules to try to limit the impact of gold trading on the foreign exchange rate of its currency, the Dong. The authorities say they also want to steer local investment towards the domestic economy. One policy is to make the central bank itself the sole importer of gold into [...] The post Vietnam tightens regulations on gold trading appeared first on Vietnam Business News.

Bad debts decrease, but worries still exist Posted: 13 Jun 2013 08:33 PM PDT The pressure on the banking system has been eased once the bad debts are on the decrease. However, bankers themselves admitted that their worries still have not been lifted. Bad debts decrease thanks to the debt restructuring The reports of the credit institutions showed that by the end of April 2013, the bad debts of [...] The post Bad debts decrease, but worries still exist appeared first on Vietnam Business News.

Monetary and fiscal policies go their separate ways Posted: 13 Jun 2013 08:33 PM PDT Vietnam has been mostly relying on the monetary policies in regulating the national economy, while the fiscal policy has been ignored. According to the Governor of the State Bank Nguyen Van Binh, by the end of May 2013, the outstanding loans had increased very slightly by 2.98 percent in comparison with the end of 2012. [...] The post Monetary and fiscal policies go their separate ways appeared first on Vietnam Business News.

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