The Business Times: Gold low sparks spending spree

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• Gold low sparks spending spree
• Optimistic banking forecast in the mix
• vietnam not to hike power prices despite rising costs
• Vietnam travel companies struggle to revive domestic market
• Industry index growth rate affected by downturn
• Lotte Mart in landmark move to the capital doors to the capital
• Viettel Post delivers on its word
• Four types of enterprises under special financial supervision
• Salt output to top 1 million tonnes
• Cacao sector runs before it can walk

Gold low sparks spending spree Posted: 01 Jul 2013 01:03 AM PDT HCM CITY(VNS)— A three-year-old low in New York gold prices has provoked a rush for the precious metal in Viet Nam, sparking a price surge last weekend. On Friday, the buying and selling rates of bullion declined to roughly VND34 million and VND35 million per tael respectively, the lowest since November 2010. A tael is [...] The post Gold low sparks spending spree appeared first on Vietnam Business News.

Optimistic banking forecast in the mix Posted: 01 Jul 2013 01:00 AM PDT Deputy State Bank Ho Chi Minh City branch director Nguyen Hoang Minh tells VIR why he believes the banking sector could reach 12 per cent credit growth this year despite modest growth figures half way into 2013. What are advantages and disadvantages of boosting credit growth in the current context? Inventory and bad debts are [...] The post Optimistic banking forecast in the mix appeared first on Vietnam Business News.

vietnam not to hike power prices despite rising costs Posted: 01 Jul 2013 12:56 AM PDT Vietnam's sole power distributor Electricity of Vietnam (EVN) has said it will not hike prices next month because of increased input costs, but warned a long-term plan to increase the tariffs is needed to attract investment. The Ministry of Industry and Trade  had asked the company to consider a price hike after coal and oil [...] The post vietnam not to hike power prices despite rising costs appeared first on Vietnam Business News.

Vietnam travel companies struggle to revive domestic market Posted: 01 Jul 2013 12:54 AM PDT Travel companies are offering dubious promotions to boost sales that have been poor even in summer, the peak tourism season. More than 20 travel companies in Hanoi and Ho Chi Minh City are offering discounts of up to nearly 50 percent on domestic tours. Though many promise the discounts will not affect quality, Thanh Nien [...] The post Vietnam travel companies struggle to revive domestic market appeared first on Vietnam Business News.

Industry index growth rate affected by downturn Posted: 01 Jul 2013 12:52 AM PDT The industry production index (IIP) growth rate and inventory index both declined in the first six months of 2013 compared to the same period last year, largely due to the ongoing economic difficulties. According to the General Statistics Office, the IPP increased 5.2 percent in the first half compared to 6.1 percent last year, while [...] The post Industry index growth rate affected by downturn appeared first on Vietnam Business News.

Lotte Mart in landmark move to the capital doors to the capital Posted: 01 Jul 2013 12:46 AM PDT South Korean retailer Lotte Mart has pushed back the date of its first Hanoi-based supermarket to 2014's first quarter. A source from Lotte Vietnam Shopping Co. Ltd. told VIR that Lotte Mart's first outlet in Hanoi would be inaugurated in the first quarter of next year, instead of late this year as initially scheduled. Thomas [...] The post Lotte Mart in landmark move to the capital doors to the capital appeared first on Vietnam Business News.

Viettel Post delivers on its word Posted: 01 Jul 2013 12:44 AM PDT Viettel Post Joint Stock Corporation expects to join Vietnam's growing club of enterprises with revenues of VND1 trillion ($48 million) this year. Luong Ngoc Hai, general director of Viettel Post under military-run telecommunication group Viettel Group, told VIR that Viettel Post's dream would come true this year. "We will reap revenue of nearly VND1.1 trillion [...] The post Viettel Post delivers on its word appeared first on Vietnam Business News.

Four types of enterprises under special financial supervision Posted: 01 Jul 2013 12:42 AM PDT The Government has issued regulations o­n financial supervision, business evaluation and information transparency for State-owned enterprises (SOEs) and those with State-owned capital contribution, listing four types of enterprises that will be put under special financial supervision. Accordingly, enterprises will be supervised if they are discovered to have problems at a time when the yearly financial [...] The post Four types of enterprises under special financial supervision appeared first on Vietnam Business News.

Salt output to top 1 million tonnes Posted: 30 Jun 2013 11:01 PM PDT HCM CITY (VNS)— Salt output is likely to increase by 18 per cent this year to reach one million tonnes, the Ministry of Agriculture and Rural Development has said. This would be enough to meet domestic demand, the ministry claimed. Production up to June 15 stood at almost 800,000 tonnes, including 193,000 tonnes produced industrially. [...] The post Salt output to top 1 million tonnes appeared first on Vietnam Business News.

Cacao sector runs before it can walk Posted: 30 Jun 2013 10:59 PM PDT The recent destruction of some cacao farms by farmers in some central and Central Highland provinces due to low profits shows that in developing the cacao sector, haste indeed makes waste. According to the Ministry of Agriculture and Rural Development, the cacao industry has been growing at breakneck speed. In 2003 the area under cacao [...] The post Cacao sector runs before it can walk appeared first on Vietnam Business News.

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