The Business Times: State owned corporations’ debts account for 70% capital

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• State owned corporations’ debts account for 70% capital
• Vietnam lures $12bln FDI inflows in 7m/2013:GSO
• Capital oversupply alarmingly high, causing headache to bankers
• Mobile phone and spare-part exports post $7.2bln trade surplus in 7m/2013:GSO
• Internet services laws tightened
• Vietnam insurance premiums touch vnd21tln in H1
• Vietnam c.bank net pumps vnd345bln through OMO on jul 25
• HSBC does not expect further rate cuts in vietnam
• Vietnam banks face turbulence amid bad debt cleanup
• Vietnam audit to examine Vietcombank, Vietinbank and Agribank in 2013

State owned corporations’ debts account for 70% capital Posted: 25 Jul 2013 09:11 PM PDT Payable debts of the Stated owned corporations/groups account for 69.94% of their total capital, surpassing the safety level. The Vietnamese State Auditor unveiled at its press conference on July 25. This is auditing result for 2012 financial year done by the State Auditor at 217 State owned Enterprises (SOEs) belong to 27 groups/corporations. By Dec [...] The post State owned corporations' debts account for 70% capital appeared first on Vietnam Business News.

Vietnam lures $12bln FDI inflows in 7m/2013:GSO Posted: 25 Jul 2013 09:11 PM PDT Vietnam is estimated to have lured total of $11.91 billion of Foreign Direct Investment (FDI) inflows in the first 7 months of this year, increasing 9.6% on year, the General Statistics Office (GSO) said. Of the sum, $6.92 billion is newly registered FDI funds, up 10% on year and $4.99 billion is additional capital for [...] The post Vietnam lures $12bln FDI inflows in 7m/2013:GSO appeared first on Vietnam Business News.

Capital oversupply alarmingly high, causing headache to bankers Posted: 25 Jul 2013 09:09 PM PDT The liquidity surplus of the whole banking system has become alarmingly high. While the capital supply has been profuse, the demand remains very weak, which has made bankers worried stiff. Capital flow gets stuck Commercial banks have rushed to lower the dong lending interest rates, not because of the State Bank's request to do that, [...] The post Capital oversupply alarmingly high, causing headache to bankers appeared first on Vietnam Business News.

Mobile phone and spare-part exports post $7.2bln trade surplus in 7m/2013:GSO Posted: 25 Jul 2013 09:05 PM PDT Vietnam's exports of mobile phones and spare-parts are estimated to run $7.21 billion trade surplus in the first 7 months of this year, the General Statistics Office (GSO) said. In details, the country reaped total of $11.63 billion from mobile phone and spare-part exports in Jan-July 2013 period, increasing 87% on year while the country spent [...] The post Mobile phone and spare-part exports post $7.2bln trade surplus in 7m/2013:GSO appeared first on Vietnam Business News.

Internet services laws tightened Posted: 25 Jul 2013 09:04 PM PDT HA NOI (VNS)— Companies that do not have a representative office in Viet Nam but allow Vietnamese users access to Facebook and Google, must adhere to Viet Nam’s regulations and laws on the management, provision and use of Internet services and electronic information on the Internet. Any specific regulations will be released by the Ministry [...] The post Internet services laws tightened appeared first on Vietnam Business News.

Vietnam insurance premiums touch vnd21tln in H1 Posted: 25 Jul 2013 08:29 PM PDT Vietnam’s insurance premiums rose 6.86% y-o-y in H1/2013 to an estimated VND21.033 trillion, of which non-life insurance premiums accounted for VND11.878 trillion while life ones made up VND9.155 trillion. In the context of economic difficulties in the first six months of the year, the insurance market still achieved rapid growth. Meanwhile, actual expenditure for compensation [...] The post Vietnam insurance premiums touch vnd21tln in H1 appeared first on Vietnam Business News.

Vietnam c.bank net pumps vnd345bln through OMO on jul 25 Posted: 25 Jul 2013 08:29 PM PDT The State Bank of Vietnam (SBV) net injected VND345 billion through open market operation (OMO) on July 25 to support liquidity to commercial banks, the local newswire NDHMoney.vn reported, citing data compiled by SSI Research. In details, the SBV pumped VND439 trillion on OMO and withdrew VND94 billion during the day. Yesterday, the monetary authority [...] The post Vietnam c.bank net pumps vnd345bln through OMO on jul 25 appeared first on Vietnam Business News.

HSBC does not expect further rate cuts in vietnam Posted: 25 Jul 2013 08:29 PM PDT The State Bank of Vietnam is "unlikely" to cut rates further due to inflationary pressures after a recent hike in gasoline prices and a devaluation of the dong, HSBC said. The recent weakness in the dong against the dollar coupled with higher fuel prices suggest that headline inflation was likely to rise to 7.1 percent [...] The post HSBC does not expect further rate cuts in vietnam appeared first on Vietnam Business News.

Vietnam banks face turbulence amid bad debt cleanup Posted: 25 Jul 2013 08:28 PM PDT Most commercial banks have yet to report on their first-half performance, but not many are likely to be in the pink of health given the low credit growth and high levels of bad debts. They said earlier this year that the sector had overcome the turbulence that caused a revenue decline of nearly 50 percent [...] The post Vietnam banks face turbulence amid bad debt cleanup appeared first on Vietnam Business News.

Vietnam audit to examine Vietcombank, Vietinbank and Agribank in 2013 Posted: 25 Jul 2013 08:28 PM PDT The State Audit of Vietnam said it planned in 2013 to carry out audits at three state-controlled commercial banks, namely Vietcombank, VietinBank and Agribank, the local newswire Danviet.vn reported. Accordingly, the State Audit will evaluate some contents, including bad debts of these three banks as of December 31, 2012. Other banks will be audited, using [...] The post Vietnam audit to examine Vietcombank, Vietinbank and Agribank in 2013 appeared first on Vietnam Business News.

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