Friday, August 2, 2013

The Business Times: Smart phone market: who will dominate the low-cost segment?

The Business Times: Smart phone market: who will dominate the low-cost segment?

Link to Vietnam Business News

Smart phone market: who will dominate the low-cost segment?

Posted: 01 Aug 2013 11:09 PM PDT

 Mobile phone manufacturers all have noted the growing tendency of people using low cost smart phones worldwide, including in Vietnam, and they have to get adapted to this. The low cost smart phone market segment is small, accounting for 20 percent of the smart phone market. However, it is large enough for a lot of [...]

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Starbucks cements city status with second store

Posted: 01 Aug 2013 11:04 PM PDT

HCM CITY (VNS)— Starbucks, the giant American coffee company, opened its second store in HCM City yesterday, just six months after making its initial appearance in Viet Nam. “Our customers in HCM City have extended a very warm welcome to us over the last six months and we are thrilled to open our second store [...]

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Steel assoc. seeks help against tax-dodging Chinese alloy

Posted: 01 Aug 2013 11:02 PM PDT

The Vietnam Steel Association (VSA) has petitioned management agencies to soon arrive at solutions of monitoring products labeled as alloy steel imported from China as it contains a small portion of boron to escape the tax. In a document sent to the Prime Minister and the Ministry of Industry and Trade on Monday, VSA stated [...]

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Vietnamese coffee brand becomes the name of US town

Posted: 01 Aug 2013 11:02 PM PDT

PhinDeli, a Vietnamese coffee brand, has made debut in Vietnam, and it would be the new name of Buford town which has 147 year history in the US. On July 30, Pham Dinh Nguyen, a Vietnamese, who spent $900,000 to buy Buford town in the US more than one year ago, officially introduced a new [...]

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Vietnam c.bank net withdraws vnd263bln through OMO on aug 1

Posted: 01 Aug 2013 10:53 PM PDT

The State Bank of Vietnam (SBV) net withdrew VND263 billion through open market operation (OMO) on Aug 1, the local newswire NDHMoney.vn reported, citing data compiled by SSI Research. Specifically, the monetary authority pumped VND176 billion on OMO and withdrew VND439 billion during the day. Yesterday, the SBV sold no Treasury bills and there were [...]

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Vietnam inbound remittances rise 10-15% annually

Posted: 01 Aug 2013 10:52 PM PDT

Vietnam Deputy Minister of Foreign Affairs Nguyen Thanh Son said in the press meeting before the program with Vietnam businesses overseas and domestic entrepreneurs that the volume of inward remittances into Vietnam rose at a pace of 10-15% per year. Son said so far, 51 out of 63 cities and provinces had investment projects from [...]

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Banks asked to report gold bar trading daily

Posted: 01 Aug 2013 10:48 PM PDT

Credit institutions and firms allowed to trade gold bars are required to make daily report on their bullion transactions, according to the central bank's latest announcement. Credit institutions must submit reports on the purchase and sale of gold to the central bank's foreign exchange management department no later than 14:00 of the next working day. [...]

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No gold firms allowed to import material gold for jewelry production yet

Posted: 01 Aug 2013 10:47 PM PDT

The Saigon Times has said that there were many gold businesses seeking the State Bank of Vietnam (SBV)'s permission to import material gold for jewelry gold production, but none has been approved. The local newswire quoted its private source from the SBV as saying that the central bank would consider allowing firms to import gold [...]

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Aug 2, 2013: vietnam gold falls to lowest level in 2 recent weeks

Posted: 01 Aug 2013 10:40 PM PDT

This morning, Vietnam gold was traded down by VND70,000/tael for bid and down by VND170,000/tael for ask versus yesterday, posting its lowest prices for 2 recent weeks, following the world suit. Hochiminh was traded at VND37. 33 million/tael for bid and VND37.63million/tael for ask respectively as of 11:35 am, Hanoi time. SJC in the North [...]

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Aug 2: Vietnam central bank keeps dollar exchange at vnd21,036

Posted: 01 Aug 2013 10:40 PM PDT

Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND20,036 on Friday, unchanged since June 28. 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, some commercial banks continued adjusting down but [...]

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