The Business Times: Steel businesses threatened by insolvency

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• Steel businesses threatened by insolvency
• Mushroom farm development needs support
• Promising prospects for Vietnam’s agro and seafood exports to Ukraine
• Vietnam stocks fall the most in 4 weeks as inflation accelerates
• Insurance firms to lift their game
• Inspectors indict Vietnam Telco for gross inefficiency
• Vietnam rumormongers not to be charged despite stock market crash
• July 24, 2013: Vietnam gold continues rising to vnd38.9mln/tael, dollar stable
• July 24: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down
• VAMC allowed to make investments

Steel businesses threatened by insolvency Posted: 24 Jul 2013 01:10 AM PDT The Vietnam Steel Association (VSA) has warned Vietnam's domestic steel industry could be driven into bankruptcy if the State does not immediately intervene. The association blames the industry's dire state on the real estate market's extended freeze and the dominance of Chinese steel in Vietnam. Businesses are also grappling with the anti-dumping taxes several importing [...] The post Steel businesses threatened by insolvency appeared first on Vietnam Business News.

Mushroom farm development needs support Posted: 24 Jul 2013 01:08 AM PDT Mushroom cultivation needs supporting measures from the agricultural sector to expand when the demand for the fungi increased in foreign countries. At a recent forum organised by the National Agricultural Extension Centre in Dong Thap province, the Ministry of Agriculture and Rural Department’s Cultivation Department said mushroom consumption has increased by 3.5 percent per year [...] The post Mushroom farm development needs support appeared first on Vietnam Business News.

Promising prospects for Vietnam’s agro and seafood exports to Ukraine Posted: 24 Jul 2013 01:08 AM PDT Judging from Ukraine's great potential for agricultural and industrial development, Vietnamese businesses need to achieve deeper penetration into this market, said Nguyen Tien Tiep, Vice President of the Vietnam-Ukraine Friendship Association. In recent years, Ukraine's demand for imported consumer goods, especially agricultural and seafood products has risen sharply. Following the signing of more than 20 [...] The post Promising prospects for Vietnam's agro and seafood exports to Ukraine appeared first on Vietnam Business News.

Vietnam stocks fall the most in 4 weeks as inflation accelerates Posted: 24 Jul 2013 01:03 AM PDT Vietnamese stocks fell, with the benchmark index dropping the most in four weeks, after inflation accelerated at the fastest pace since May 2012. The Ho Chi Minh City Stock Exchange's VN Index (VNINDEX) retreated 1.8 percent to 495.28 at 10:51 a.m. local time, poised for the sharpest decline since June 25. Joint-Stock Commercial Bank for [...] The post Vietnam stocks fall the most in 4 weeks as inflation accelerates appeared first on Vietnam Business News.

Insurance firms to lift their game Posted: 23 Jul 2013 09:31 PM PDT HA NOI (VNS)— The insurance sector will focus on restructuring the market as well as its businesses so as to maintain stability and sustainable development, the Ministry of Finance’s Insurance Supervisory Authority (ISA) has said. The industry expects to see a total premium of VND43.711 trillion (US$2.082 billion) this year, a rise of 6.5 per [...] The post Insurance firms to lift their game appeared first on Vietnam Business News.

Inspectors indict Vietnam Telco for gross inefficiency Posted: 23 Jul 2013 09:31 PM PDT Many of the state-owned Vietnam Posts and Telecommunications Group’s projects are unprofitable, including the country's first satellite, government inspectors said. Vinasat-1 was launched in 2008 at a cost of over VND3.8 trillion (US$178.37 million), but has made losses of VND1.58 trillion ($74.5 million), some VND329 billion ($15.4 million) more than projected, they said at a [...] The post Inspectors indict Vietnam Telco for gross inefficiency appeared first on Vietnam Business News.

Vietnam rumormongers not to be charged despite stock market crash Posted: 23 Jul 2013 09:08 PM PDT Three people who spread rumors about the arrest of a bank chief, causing the stock market to tank in February, will not face criminal charges since they were not aware of the possible consequences, authorities have said. According to the Ministry of Information and Communications (MIC), one of them was fined VND15 million (US$700) for [...] The post Vietnam rumormongers not to be charged despite stock market crash appeared first on Vietnam Business News.

July 24, 2013: Vietnam gold continues rising to vnd38.9mln/tael, dollar stable Posted: 23 Jul 2013 09:07 PM PDT Today, Vietnam gold inched up by VND60,000/tael versus yesterday close to VND38.88 million/tael- the highest price in the past 2 weeks, bucking the world trend. SJC Hochiminh was traded at VND38.38 million/tael for bid and VND38.88 million/tael for ask respectively as of 10:22 am, Hanoi time. SJC in the North quoted at VND38.40 million/tael for [...] The post July 24, 2013: Vietnam gold continues rising to vnd38.9mln/tael, dollar stable appeared first on Vietnam Business News.

July 24: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down Posted: 23 Jul 2013 09:07 PM PDT Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND20,036 on Wednesday 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 lowered dollar prices by VND10-20/dollar for bid, offering at [...] The post July 24: Vietnam central bank keeps dollar exchange at vnd21,036, commercial banks rate down appeared first on Vietnam Business News.

VAMC allowed to make investments Posted: 23 Jul 2013 09:06 PM PDT The Vietnam Assets Management Company, aside from buying bad debts of credit institutions, is allowed to use funds to make investments [but not through debt and asset trading], the state-run newswire Phap Luat TPHCM reported. The information was stated in the guidance of the Ministry of Finance in the draft circular on VAMC issued on [...] The post VAMC allowed to make investments appeared first on Vietnam Business News.

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