The Business Times: Government stockpiling causes rice prices to rise

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• Government stockpiling causes rice prices to rise
• Handicraft exports value forecast to hit record high
• Green light for Nghi Son refinery-petrochem project
• Foreign tourist numbers increase
• Agribank’s inspection results yet to be announced; violations detected, says government inspectorate
• July 23: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate up
• Vietnam ACB allowed to provide gold keeping service
• July 23, 2013: Vietnam gold continues rising to vnd38.5mln/tael, dollar stable
• Online game firms live outside the law
• Extra trading time lifts liquidity

Government stockpiling causes rice prices to rise Posted: 22 Jul 2013 11:45 PM PDT HCM CITY (VNS)— Rice prices have risen sharply in recent days thanks to the Government’s programme to buy one million tonne of the grain for its temporary reserve, according to the Viet Nam Food Association. VFA deputy chairman Pham Van Bay said the average price for long-grain paddy is VND5,900-6,000 per kilo, and for normal [...] The post Government stockpiling causes rice prices to rise appeared first on Vietnam Business News.

Handicraft exports value forecast to hit record high Posted: 22 Jul 2013 11:45 PM PDT HA NOI (VNS)— The export value of Vietnamese fine arts and handicrafts is expected to outstrip US$2.5 billion this year, according to the General Statistics Office (GSO). In the first six months, shipments of arts and handicrafts jumped 18.3 per cent against the same period last year, slightly higher than the country’s average export growth [...] The post Handicraft exports value forecast to hit record high appeared first on Vietnam Business News.

Green light for Nghi Son refinery-petrochem project Posted: 22 Jul 2013 11:44 PM PDT HA NOI (VNS)— Authorities in the central province of Thanh Hoa officially handed over the land use right certificate and construction permit yesterday to the Nghi Son Refinery and Petrochemical Project in the Nghi Son Economic Zone, 200km south of Ha Noi. The Nghi Son petrochemical complex has a total investment of US$9 billion with [...] The post Green light for Nghi Son refinery-petrochem project appeared first on Vietnam Business News.

Foreign tourist numbers increase Posted: 22 Jul 2013 11:43 PM PDT HA NOI(VNS)— Foreign tourist arrivals in the first half of this year reached 3.5 million, an increase of 2.6 per cent over the same period last year, the Ministry of Culture, Sports and Tourism has said. The tourism sector posted total revenues of VND105 trillion (US$5 billion), up 23.5 per cent from the corresponding period [...] The post Foreign tourist numbers increase appeared first on Vietnam Business News.

Agribank’s inspection results yet to be announced; violations detected, says government inspectorate Posted: 22 Jul 2013 11:39 PM PDT The Government Inspectorate (GI) has finished inspecting the fully state-owned lender Agribank; but the inspection conclusions are still under drafting and thus cannot be disclosed yet, the local newswire NDHMoney.vn reported. Agribank, formally known as the Vietnam Bank for Agriculture and Rural Development, has been inspected concerning three main activities, namely credits, financial investments and [...] The post Agribank's inspection results yet to be announced; violations detected, says government inspectorate appeared first on Vietnam Business News.

July 23: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate up Posted: 22 Jul 2013 11:39 PM PDT Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND20,036 on Tuesday 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 raised dollar prices by VND5-20/dollar for bid, offering at [...] The post July 23: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate up appeared first on Vietnam Business News.

Vietnam ACB allowed to provide gold keeping service Posted: 22 Jul 2013 11:35 PM PDT The State Bank of Vietnam (SBV) approved Asia Commercial Bank (ACB) to add operational content "providing services of safeguarding assets, leasing safe lockers, deposit boxes" to the lender's business lines. As such, the HNX listed lender can provide gold keeping service to the local people. ACB stopped opening new accounts for gold keeping from July 3, following [...] The post Vietnam ACB allowed to provide gold keeping service appeared first on Vietnam Business News.

July 23, 2013: Vietnam gold continues rising to vnd38.5mln/tael, dollar stable Posted: 22 Jul 2013 11:30 PM PDT Today, Vietnam gold was traded up by VND390,000/tael versus yesterday close to VND38.5 million/tael- the highest price in the past 2 weeks, following the world suit. SJC Hochiminh was traded at VND38.45 million/tael for bid and VND38.5million/tael for ask respectively as of 11:22 am, Hanoi time. SJC in the North quoted at VND38.45 million/tael for [...] The post July 23, 2013: Vietnam gold continues rising to vnd38.5mln/tael, dollar stable appeared first on Vietnam Business News.

Online game firms live outside the law Posted: 22 Jul 2013 08:00 PM PDT Online games have been living quietly in the dark, because they cannot advertise their products under any form, and because they have not been granted operating licenses. In 2012, online games brought VND6 trillion in turnover, according to the Ministry of Information and Communication MIC. It is estimated that the industry now employs 7,000 workers. [...] The post Online game firms live outside the law appeared first on Vietnam Business News.

Extra trading time lifts liquidity Posted: 22 Jul 2013 07:57 PM PDT HA NOI (VNS)— Shares rose in HCM City but retreated in Ha Noi yesterday. On the HCM City Stock Exchange, the VN-Index closed at 506.16 points, increasing nearly 0.5 per cent compared to last Friday’s session. The VN30, tracking the city’s 30 leading shares in terms of capitalisation and liquidity, also added 0.25 per cent [...] The post Extra trading time lifts liquidity appeared first on Vietnam Business News.

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