The Business Times: Inflation and foreign selling sink VN shares

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• Inflation and foreign selling sink VN shares
• VSA: Steel price-slash wars badly damaging the market
• Banking growth target ‘reachable’
• Vietinbank deputy CEO appointed as SBV chief administrator
• Timber exports rebound
• US$180m ship building plan approved
• HCMC airport still set to take flight
• Farmers must benefit from agricultural production, says minister
• Gold imported by vietnam c.bank free of customs inspection
• Aug 26: Vietnam gold inches up to vnd38.12mln/tael, dollar stable, domestic gold premium falls

Inflation and foreign selling sink VN shares Posted: 26 Aug 2013 12:49 AM PDT HA NOI (VNS)— The Vietnamese stock market witnessed a dreadful week, with the VN-Index dropping 4.1 per cent to 486.82 points and the HNX-Index going from 1.3 per cent to 61.42. The slump was partly caused by the announcement of the consumer price index (CPI) in August, which rose 0.83 per cent over July and [...] The post Inflation and foreign selling sink VN shares appeared first on Vietnam Business News.

VSA: Steel price-slash wars badly damaging the market Posted: 26 Aug 2013 12:46 AM PDT HA NOI — The Viet Nam Steel Association (VSA) required steel makers to stop reducing the selling price of their products to make the local steel market healthier. The association said that local steel makers slashed their selling price by VND100,000-200,000 per tonne and even a few producers cut the price by VND1 million, though [...] The post VSA: Steel price-slash wars badly damaging the market appeared first on Vietnam Business News.

Banking growth target ‘reachable’ Posted: 26 Aug 2013 12:42 AM PDT The 12 percent credit growth target set for commercial banks this year is within reach, according to a central bank official. Nguyen Thi Hong, director of the State Bank of Vietnam 's Department of Monetary Policies, said at a recent press briefing that by late July, the banking sector had achieved a credit growth of [...] The post Banking growth target 'reachable' appeared first on Vietnam Business News.

Vietinbank deputy CEO appointed as SBV chief administrator Posted: 26 Aug 2013 12:40 AM PDT The State Bank of Vietnam (SBV) on August 26 signed Decision No. 1836/QD-NHNN to appoint Le Duc Tho, deputy general director of VietinBank as chief administrator of the central bank's office. Le Duc Tho, born in 1970, has 21 years of experience in the banking sector with most of the time at VietinBank. He had [...] The post Vietinbank deputy CEO appointed as SBV chief administrator appeared first on Vietnam Business News.

Timber exports rebound Posted: 25 Aug 2013 11:19 PM PDT Timber exports to the US, Britain, France, Japan, the Republic of Korea and China are rising rapidly, yet businesses fear that they are not able to cash in on bulk orders. Rising global demands High input costs recently forced timber processors in China to shift their production bases to other countries and Vietnam is one [...] The post Timber exports rebound appeared first on Vietnam Business News.

US$180m ship building plan approved Posted: 25 Aug 2013 11:12 PM PDT Deputy PM Hoang Trung Hai has agreed in principle to include a ship-building facility in Khanh Hoa Province in the country's masterplan for the industry. The license for the US$180 million project in Cam Ranh City's Cam Thinh Dong Commune was granted to Oshima Shipbuilding Vietnam Ltd (Japan) in 2012. The 50-year project will develop [...] The post US$180m ship building plan approved appeared first on Vietnam Business News.

HCMC airport still set to take flight Posted: 25 Aug 2013 11:08 PM PDT The Ministry of Transport (MoT) believes that Long Thanh airport is the optimal facility to replace Tan Son Nhat airport in Ho Chi Minh City when the latter reaches full capacity by 2020. MoT Deputy Minister Pham Quy Tieu dismissed a suggestion by two aviation experts to scrap Long Thanh and instead expand Tan Son [...] The post HCMC airport still set to take flight appeared first on Vietnam Business News.

Farmers must benefit from agricultural production, says minister Posted: 25 Aug 2013 11:04 PM PDT It's time for the agricultural sector to accelerate its restructuring process to improve product quality and boost farmers' income, says agricultural minister Cao Duc Phat. Raising the added value of farm products is the key to increasing the competitive capacity of the agricultural sector, Phat said in a weekly online Q&A session held by the [...] The post Farmers must benefit from agricultural production, says minister appeared first on Vietnam Business News.

Gold imported by vietnam c.bank free of customs inspection Posted: 25 Aug 2013 10:55 PM PDT Gold imported by the State Bank of Vietnam (SBV) for stabilizing and regulating the local gold market will be free from detailed checking of customs documents and actual examination. The information was announced by Deputy Prime Minister Vu Van Ninh on behalf of the Prime Minister to direct the Ministry of Finance, Public Security and [...] The post Gold imported by vietnam c.bank free of customs inspection appeared first on Vietnam Business News.

Aug 26: Vietnam gold inches up to vnd38.12mln/tael, dollar stable, domestic gold premium falls Posted: 25 Aug 2013 10:49 PM PDT Kicking off the week, Vietnam gold increased by VND120,000/tael for bid and VND20,000/taek for ask while world gold eased. Hochiminh was traded at VND37.92 million/tael for bid and VND38.12 million/tael for ask respectively as of 10:54 am, Hanoi time. SJC in the North quoted at VND37.95 million/tael for bid and VND38.15 million/tael for ask. Techcombank [...] The post Aug 26: Vietnam gold inches up to vnd38.12mln/tael, dollar stable, domestic gold premium falls appeared first on Vietnam Business News.

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