The Business Times: Foreign sales weigh on bourses

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• Foreign sales weigh on bourses
• Aquatic exports up 1.3 percent in 8 months
• Ministry vows to tackle tax transfer pricing
• Beeline failure stings foreign players
• Banks’ pervasive cross-ownership harbours risks
• Boosting exports to EU via Czech Republic
• Footwear exporters urged to seize new opportunities
• Pvcombank to make its debut
• Investigation opened into local banks following ACB fraud scandal fallout
• Analysts tip FDI to skyrocket

Foreign sales weigh on bourses Posted: 03 Sep 2013 12:15 AM PDT HA NOI (VNS)— Low valuation after several falling sessions helped buoy investors’ trades last Friday but strong selling by foreign investors throughout the week, particularly in blue chips, pushed the two markets down overall. On the HCM City Stock Exchange, the VN-Index lost 2.9 per cent during the week, closing the Friday session at 427.70 [...] The post Foreign sales weigh on bourses appeared first on Vietnam Business News.

Aquatic exports up 1.3 percent in 8 months Posted: 03 Sep 2013 12:09 AM PDT The export value of aquatic products are estimated at 591 million USD for August, bringing the total turnover in the first eight months of this year to 4 billion USD, a year-on-year increase of 1.3 percent. According to statistics by the Ministry of Agriculture and Rural Development, the US remains the largest importer of Vietnam's [...] The post Aquatic exports up 1.3 percent in 8 months appeared first on Vietnam Business News.

Ministry vows to tackle tax transfer pricing Posted: 03 Sep 2013 12:03 AM PDT Vietnam is currently piloting an advance pricing agreement (APA) to deal with the popular tax-ruse of transfer pricing, a representative from the Ministry of Finance (MoF) confirmed. Transfer pricing — the trick of misrepresenting tax bands to avoid paying extra — poses a serious headache for tax collectors, so the APA is intended to prevent [...] The post Ministry vows to tackle tax transfer pricing appeared first on Vietnam Business News.

Beeline failure stings foreign players Posted: 02 Sep 2013 11:59 PM PDT Vietnam's telecom market has been characterised by cut-throat price competition, according to a newly released report on the Southeast Asian telecom market by global market research Business Monitor International. The report underscored that fierce price battles between service providers had eaten into profits and prompted the exit of foreign players. Sweden's Comvik, South Korea's SK [...] The post Beeline failure stings foreign players appeared first on Vietnam Business News.

Banks’ pervasive cross-ownership harbours risks Posted: 02 Sep 2013 11:53 PM PDT Vietnam's government is considering banking reforms that would enable foreign investors to acquire larger ownership shares in domestic banks. Dr. Vu Dinh Anh, deputy director of the Ministry of Finance's Market and Price Institute, said that loosening the foreign ownership cap in Vietnamese banks could eventually lead to more complicated cross-ownership in local banks. Is [...] The post Banks' pervasive cross-ownership harbours risks appeared first on Vietnam Business News.

Boosting exports to EU via Czech Republic Posted: 02 Sep 2013 11:49 PM PDT The Transport & Brokerage Centre for Vietnamese exports in the Czech Republic is expected to begin operation in early 2015, opening up an opportunity for Vietnamese goods to penetrate the EU market. According to the European Market Department under the Ministry of Industry and Trade (MoIT), last July saw Vietnam's exports to the Czech Republic [...] The post Boosting exports to EU via Czech Republic appeared first on Vietnam Business News.

Footwear exporters urged to seize new opportunities Posted: 02 Sep 2013 11:46 PM PDT Vietnamese leather and footwear exporters must take advantage of a shift in demand from China to Vietnam, said experts from the Ministry of Industry and Trade (MoIT). Their advice was based on increasing orders for Vietnamese goods from countries such as Japan during recent negotiations for the Trans-Pacific Partnership (TPP) Agreement. They said foreign importers [...] The post Footwear exporters urged to seize new opportunities appeared first on Vietnam Business News.

Pvcombank to make its debut Posted: 02 Sep 2013 11:45 PM PDT A new bank born from the merger of PetroVietnam Finance and Western Bank is expected to make its debut in October this year. PetroVietnam Finance (PVFC) last week announced it would hold a joint shareholder meeting on September 8 to form the new entity, which would be named Vietnam Public Bank or Pvcombank. The merger, [...] The post Pvcombank to make its debut appeared first on Vietnam Business News.

Investigation opened into local banks following ACB fraud scandal fallout Posted: 02 Sep 2013 11:40 PM PDT HA NOI (VNS)— The Ministry of Public Security has named 26 banks which are being investigated for receiving deposit money from the Asian Commercial Joint Stock Bank (ACB) at interest rates higher than the ceiling level. Among the banks under scrutiny are Viet Nam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Bank for [...] The post Investigation opened into local banks following ACB fraud scandal fallout appeared first on Vietnam Business News.

Analysts tip FDI to skyrocket Posted: 02 Sep 2013 11:38 PM PDT HA NOI (VNS)— Foreign direct investment (FDI) inflows in Viet Nam is expected to sharply increase in the 2014-15 period as the stable economy would create favourable conditions for the flow. The National Financial Supervisory Committee (NFSC) last week released the latest forecasts for the economy in the 2014-15 period, showing that the FDI would [...] The post Analysts tip FDI to skyrocket appeared first on Vietnam Business News.

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