The Business Times: Domestic gold prices hit record low

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• Domestic gold prices hit record low
• Vietnam boosts trade ties with Egypt, Israel, Sudan
• Export earnings from garments for kids increase
• Inquiry launched into tax-free car scam
• VietJetAir teams up with Thai firm in pursuit of high life
• SBV to approve imports of gold for jewelries
• Vietnam banks suggest easing conditions for buying NPLs of VAMC
• Banks look to foreign funds
• Vietnam credit growth +3.31% by jun 20
• SBV asks banks to extend rice reserve loans

Domestic gold prices hit record low Posted: 27 Jun 2013 12:18 AM PDT The price of SJC gold has dropped to a record low of around VND37 million/tael since March 2011. On June 27, domestic gold was down by VND100,000/tael, or VND2 million lower than last weekend's transaction figure. SJC gold was traded at VND37.15 – 37.4 million/tael in Hanoi and VND37.1 – 37.4 million/tael in Ho Chi [...] The post Domestic gold prices hit record low appeared first on Vietnam Business News.

Vietnam boosts trade ties with Egypt, Israel, Sudan Posted: 27 Jun 2013 12:17 AM PDT A Vietnamese trade delegation led by Deputy Minister of Industry and Trade Le Duong Quang is on a fact-finding tour of three African countries. At a working session with the Egyptian Ministry of Foreign Trade and Industry (MFTI) on June 26, the two sides discussed opportunities for cooperation in industry, agriculture, fisheries, tourism and pharmacy [...] The post Vietnam boosts trade ties with Egypt, Israel, Sudan appeared first on Vietnam Business News.

Export earnings from garments for kids increase Posted: 27 Jun 2013 12:11 AM PDT Vietnam raked in US$279.3 million from the export of kid clothing in the first five months of this year, up 19.7% over the same period of 2012. The value is predicted to reach US$351.3 million in June, or a year-on-year increase of 20.2%. Key export markets, including the European Union, the US, Japan and the [...] The post Export earnings from garments for kids increase appeared first on Vietnam Business News.

Inquiry launched into tax-free car scam Posted: 27 Jun 2013 12:09 AM PDT HA NOI (VNS)— Phuong Nam Company in HCM City has denied being involved in the import of five luxury Lexus cars registered as assets of Overseas Vietnamese, according to Da Nang Customs Office. The law allows overseas Vietnamese settling down here to import their used cars or motorbikes without paying import and value-added taxes. The [...] The post Inquiry launched into tax-free car scam appeared first on Vietnam Business News.

VietJetAir teams up with Thai firm in pursuit of high life Posted: 27 Jun 2013 12:07 AM PDT BANGKOK (VNS)— The low-cost carrier VietJetAir has agreed a joint venture with the Thai airline Kan Air, as part of its long-term campaign to penetrate the global aviation market. A memorandum of understanding that was signed between both parties in Bangkok yesterday was witnessed by Vietnamese Deputy Prime Minister Nguyen Xuan Phuc. VietJetAir holds a [...] The post VietJetAir teams up with Thai firm in pursuit of high life appeared first on Vietnam Business News.

SBV to approve imports of gold for jewelries Posted: 27 Jun 2013 12:05 AM PDT The State Bank of Vietnam (SBV) will give approval to enterprises to import material gold to serve production of jewelries and gold artworks, the central bank said in a report reviewing the gold market in the first half of this year. To meet the demand for jewelries of local people and reduce pressure on the [...] The post SBV to approve imports of gold for jewelries appeared first on Vietnam Business News.

Vietnam banks suggest easing conditions for buying NPLs of VAMC Posted: 27 Jun 2013 12:02 AM PDT Local credit institutions proposed cutting the rate of collaterals in real estate for loans being sold to the Vietnam Assets Management Company (VAMC) from 65% to about 40%. According to a draft circular of the central bank, the VAMC will only purchase toxic debts backed with collaterals, in which at least 65% of collateral value [...] The post Vietnam banks suggest easing conditions for buying NPLs of VAMC appeared first on Vietnam Business News.

Banks look to foreign funds Posted: 27 Jun 2013 12:02 AM PDT HA NOI (VNS)— Many Vietnamese banks are seeking support from foreign partners, including Japanese investors, in a bid to boost their capital. A senior banking official who wished to remain unnamed told Dau Tu (Investment) newspaper that his bank was currently in negotiations to sell some of its stakes to a Japanese banking giant. He [...] The post Banks look to foreign funds appeared first on Vietnam Business News.

Vietnam credit growth +3.31% by jun 20 Posted: 27 Jun 2013 12:02 AM PDT Total outstanding loans of the whole banking system, as of June 20, were estimated to grow by 3.31% from last December, the local newswire Gafin.vn reported, citing data in the latest report of the planning and investment ministry. Meanwhile, total deposits of the banking industry in the dong surged 8.18% from end-2012. The country's broadest [...] The post Vietnam credit growth +3.31% by jun 20 appeared first on Vietnam Business News.

SBV asks banks to extend rice reserve loans Posted: 27 Jun 2013 12:02 AM PDT HA NOI (VNS)— The State Bank of Viet Nam (SBV) has sent a document to commercial banks asking them to extend loans to food companies to enable them to buy paddy/rice reserves. The central bank asked the banks to follow the production and performance of rice export companies. If exporters faced difficulties, the banks should [...] The post SBV asks banks to extend rice reserve loans appeared first on Vietnam Business News.

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