The Business Times: Final virtual mobile network faces the axe

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• Final virtual mobile network faces the axe
• Vietnam customs’ h1/2013 collection is under target
• 70 percent of overseas remittance put into business
• VAMC may become out of work
• Salt stockpile reaches 206,493 tons by july 20: MARD
• Poor global demand hits major export staples
• Vietnam treasury mobilizes vnd325bln from g-bond sale on jul 19
• New c.bank’s chief administrator appointed
• July 30: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down
• Vietnam c.bank net withdraws vnd393bln through OMO on jul 29

Final virtual mobile network faces the axe Posted: 29 Jul 2013 11:26 PM PDT The Ministry of Information and Communications is going to revoke the virtual mobile network license of Vietnam Multimedia Corp. (VTC) as the firm failed to launch service within the scheduled time limit, an official of the ministry said. This is the final virtual mobile network to have the license withdrawn in Vietnam after Dong Duong [...] The post Final virtual mobile network faces the axe appeared first on Vietnam Business News.

Vietnam customs’ h1/2013 collection is under target Posted: 29 Jul 2013 11:25 PM PDT Vietnam customs' collection was estimated at VND94,693 billion in the first half of this year, up 4.1% on year but only met 39.9% of the whole year plan, the General Department of Vietnam Customs said. In 2013, the Customs is set to collect by VND237,500 billion worth of taxes, increasing 20% from 2012. With VND94,693 [...] The post Vietnam customs' h1/2013 collection is under target appeared first on Vietnam Business News.

70 percent of overseas remittance put into business Posted: 29 Jul 2013 11:23 PM PDT Vietnam has been one of the 10 biggest overseas remittance receivers in the world, despite the economic difficulties in recent years. A report of the HCM City branch of the State Bank of Vietnam showed that by the end of the second quarter of 2013, about $1.9 billion worth of overseas remittance had been delivered [...] The post 70 percent of overseas remittance put into business appeared first on Vietnam Business News.

VAMC may become out of work Posted: 29 Jul 2013 11:23 PM PDT Experts have warned that the Vietnam Asset Management Company (VAMC) may be "jobless," because it may have no debt to trade. VAMC has been given a big juridical capacity – handling the bad debts of the credit institutions, thus helping put the capital flow through in the national economy. However, while having been given the [...] The post VAMC may become out of work appeared first on Vietnam Business News.

Salt stockpile reaches 206,493 tons by july 20: MARD Posted: 29 Jul 2013 11:10 PM PDT Inventory of salt has increased to 206,493 tons by July 20, 2013, the Ministry of Agricultural and Rural Development (MARD) said. By 20 July, Vietnam has total of 14,189 hectares of salt production area, including 3,394 hectares  of the industrial salt area. In Jan 1-July 20, 2013, Vietnam produced 860, 889 tons of salt, increasing 40.7% [...] The post Salt stockpile reaches 206,493 tons by july 20: MARD appeared first on Vietnam Business News.

Poor global demand hits major export staples Posted: 29 Jul 2013 11:00 PM PDT The export turnover of agro-forestry and aquaculture products is expected to reach US$15.59 billion for the first seven months of this year, down 1.6 per cent year-on-year, according to the Ministry of Agriculture and Rural Development (MARD). The decrease is largely attributed to the year-long downward trend in global demand and falling prices for farm [...] The post Poor global demand hits major export staples appeared first on Vietnam Business News.

Vietnam treasury mobilizes vnd325bln from g-bond sale on jul 19 Posted: 29 Jul 2013 10:59 PM PDT The State Treasury of Vietnam, in an auction on July 29, sold a combined VND325 billion worth of government bonds at the yield of 7.28-8.9% per annum. In the auction, the State Treasury planned to sell VND4 trillion worth of bonds, distributed equally for 2-, 3-, 5- and 10-year tenors. The bid to cover ratio [...] The post Vietnam treasury mobilizes vnd325bln from g-bond sale on jul 19 appeared first on Vietnam Business News.

New c.bank’s chief administrator appointed Posted: 29 Jul 2013 10:58 PM PDT The local newswire Gafin.vn said the State Bank of Vietnam (SBV) has promoted Ngo Quang Luong to become the chief administrator at the central bank, in place of Nghiem Xuan Thanh. Nghiem Xuan Thanh left the position to become general director of Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB), in place of [...] The post New c.bank's chief administrator appointed appeared first on Vietnam Business News.

July 30: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down Posted: 29 Jul 2013 10:58 PM PDT Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND20,036 on Tuesday, Unchanged since June 28. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,246. Today, commercial banks adjusted down dollar prices by [...] The post July 30: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down appeared first on Vietnam Business News.

Vietnam c.bank net withdraws vnd393bln through OMO on jul 29 Posted: 29 Jul 2013 10:58 PM PDT The State Bank of Vietnam (SBV) net withdrew VND393 billion through open market operation (OMO) on July 30, the local newswire NDHMoney.vn reported, citing data compiled by SSI Research. In details, the SBV pumped VND4.328 trillion on OMO and withdrew VND4.721 trillion during the day. Yesterday, the monetary authority sold VND20 billion worth of 91-day [...] The post Vietnam c.bank net withdraws vnd393bln through OMO on jul 29 appeared first on Vietnam Business News.

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