The Business Times: PetroVietnam exploration arm surpasses oil and gas target

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• PetroVietnam exploration arm surpasses oil and gas target
• Vinatex plans to plant 10,000ha of cotton in Quang Tri by 2015
• Interests rates set to be weapon of choice
• Banks push bad debt reforms
• Bad debt on the rise: c.bank
• Vietnam treasury raises over vnd2.1tln government bond on june 27; yields mixed
• Seafood exports expected to earn US$6.5 billion this year
• Cell phone export to UAE reaches US$1.36 billion
• Rural families ‘left to suffer’
• 14,000 gold taels left unsold in june 27 auction; prices at record low

PetroVietnam exploration arm surpasses oil and gas target Posted: 27 Jun 2013 10:53 PM PDT HA NOI (VNS)— The PetroVietnam Exploration and Production Corp (PVEP) tapped 1.8 million tonnes of oil and 701 million cu.m of gas in the first half this year, surpassing its targets by 6 per cent and 17 per cent respectively. In the period, PVEP also signed two new oil and gas contracts with domestic partners [...] The post PetroVietnam exploration arm surpasses oil and gas target appeared first on Vietnam Business News.

Vinatex plans to plant 10,000ha of cotton in Quang Tri by 2015 Posted: 27 Jun 2013 10:52 PM PDT HA NOI (VNS)— The Viet Nam National Textile and Garment Group (Vinatex) has set a target of planting 10,000ha of cotton in the central province of Quang Tri by 2015. To realise this target, the group plans to implement a 2,000ha project in Trieu Phong District in the 2013-14 period. The provincial Department of Planning [...] The post Vinatex plans to plant 10,000ha of cotton in Quang Tri by 2015 appeared first on Vietnam Business News.

Interests rates set to be weapon of choice Posted: 27 Jun 2013 10:50 PM PDT Industry insiders are weighing up interest rate instruments to retain market stability. Banks assumed less disparity between dong and dollar deposits after the dong mobilising cap was scaled down to 7.5 per cent, per year from March 26, 2013 has put pressure on the dong-dollar exchange rate and prompted part of depositors to convert from [...] The post Interests rates set to be weapon of choice appeared first on Vietnam Business News.

Banks push bad debt reforms Posted: 27 Jun 2013 10:50 PM PDT HA NOI (VNS)— The State Bank of Viet Nam (SBV) should reduce the 65 per cent rate of real estate collateral for loans being sold to the Viet Nam Assets Management Company (VAMC), bankers said in a Ha Noi meeting on Wednesday. According to the SBV draft circular on the VAMC’s operation, the assets firm [...] The post Banks push bad debt reforms appeared first on Vietnam Business News.

Bad debt on the rise: c.bank Posted: 27 Jun 2013 10:50 PM PDT Banks reported a continued rise in bad debt in the first five months of this year with potentially irrecoverable debt soaring by 36.5% compared to the end of 2012. According to the report on the five-month banking sector performance announced by the State Bank of Vietnam last week, the bad debt spike slowed down to [...] The post Bad debt on the rise: c.bank appeared first on Vietnam Business News.

Vietnam treasury raises over vnd2.1tln government bond on june 27; yields mixed Posted: 27 Jun 2013 10:50 PM PDT The State Treasury of Vietnam sold VND2.115 trillion worth of government bonds or nearly 32% of the offered value, at the yield of 6.78-8.9% per annum in an auction held on June 27, said the Hanoi Stock Exchange (HNX). In the auction, the State Treasury planned to sell a combined VND6 trillion worth of government-backed [...] The post Vietnam treasury raises over vnd2.1tln government bond on june 27; yields mixed appeared first on Vietnam Business News.

Seafood exports expected to earn US$6.5 billion this year Posted: 27 Jun 2013 10:44 PM PDT Vietnam's seafood export earnings in 2013 are likely to reach US$6.5 billion, an increase of US$300 million against last year's figure. The Vietnam Association of Seafood Exporters and Producers (VASEP) says seafood export turnover already reached roughly US$2.88 billion in the first six months of the year, up 0.9 percent against the same period last [...] The post Seafood exports expected to earn US$6.5 billion this year appeared first on Vietnam Business News.

Cell phone export to UAE reaches US$1.36 billion Posted: 27 Jun 2013 10:44 PM PDT Vietnam's cell phone export turnover to the United Arab Emirates (UAE) were worth US$1.36 billion in the first five months this year, according to the General Department of Customs. With this, UAE became the largest import market of Vietnam's cell phones, accounting for more than 17.7 percent of the country's total cell phone export turnover [...] The post Cell phone export to UAE reaches US$1.36 billion appeared first on Vietnam Business News.

Rural families ‘left to suffer’ Posted: 27 Jun 2013 08:37 PM PDT HA NOI (VNS)— Rural households across the country that have suffered from shocks such as natural disasters and outbreaks of disease haven’t received all the support they deserve, according to the findings of a survey that were released yesterday. Carried out by the Institute of Policy and Strategy for Agriculture and Rural Development over a [...] The post Rural families 'left to suffer’ appeared first on Vietnam Business News.

14,000 gold taels left unsold in june 27 auction; prices at record low Posted: 27 Jun 2013 08:37 PM PDT The State Bank of Vietnam (SBV) sold 26,000 taels of gold bars out of 40,000 taels offered in an auction held on June 27 at record low prices since the SBV started gold auctions, the central bank said. Notably, 14,000 taels were the volume by which the SBV raised over its normal offer in June [...] The post 14,000 gold taels left unsold in june 27 auction; prices at record low appeared first on Vietnam Business News.

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