Wednesday, September 4, 2013

The Business Times: State Bank given go-ahead to buy into struggling credit institutions

The Business Times: State Bank given go-ahead to buy into struggling credit institutions

Link to Vietnam Business News

State Bank given go-ahead to buy into struggling credit institutions

Posted: 03 Sep 2013 11:50 PM PDT

Decision No. 48/2013/QD-TTg: State Bank gets nod to purchase shares of ailing banks Under Prime Minister Decision No. 48/2013/QD-TTg of August 1, the State Bank of Viet Nam (SBV) will be empowered to acquire shares of banks placed under special control. The new regulation allows SBV to directly purchase shares of credit institutions or contribute [...]

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Vietnam’s instant noodle market facing fierce competition

Posted: 03 Sep 2013 11:44 PM PDT

Vietnam is the fourth largest consumer of instant noodles in the world, purchasing 5.1 billion packets in 2012 after consuming only 4.3 billion in 2009, reports the World Instant Noodles Association (WINA). Vietnam's instant noodle consumption has grown at a reliable double-digit rate and demand continues to rise in both urban and rural areas. Statistics [...]

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Japan- the biggest strategic investor in Vietnam

Posted: 03 Sep 2013 11:34 PM PDT

Japan ranks first among foreign investors in Vietnam in terms of registered capital with 1990 valid projects worth US$32.667 billion. Forty years after establishing diplomatic ties (September 21), Vietnam and Japan have seen their partnership growing. Following are excerpts from a VOV online interview with Minister of Planning and Investment Bui Quang Vinh. VOV online: What's [...]

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Profits push VietJet into IPO ambitions

Posted: 03 Sep 2013 11:32 PM PDT

HA NOI (VNS) — Viet Nam’s budget private carrier, VietJetAir, intends to seek an Initial Public Offering (IPO) from overseas after the airline swung into VND120 billion (US$5.7 million) pre-tax profit for the first seven months of this year. The airline’s managing director, Luu Duc Khanh, said that the IPO might be made on the [...]

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Vietnam’ agricultural product export seen low in Sep-Dec

Posted: 03 Sep 2013 11:28 PM PDT

Exports of agricultural products such as coffee, cashew, rubber and aquatic species are seen to fall in the last 4 months of this year due to bad weather and low global market purchase power, the Nong Thon Ngay Nay newspaper reported. In the first eight months of this year, Vietnam earned $17.98 billion from exporting [...]

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New firms up 9% in first 8 months

Posted: 03 Sep 2013 11:01 PM PDT

HA NOI (VNS) — Some 52,000 enterprises were created in the first eight months of this year with total registered capital of nearly VND253.7 trillion (US$12.08 billion), or a 9 per cent rise year-on-year, according to statistics from the Business Registration Department. In the second quarter of the year alone, the number of newly-created enterprises [...]

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Ministry slashes coal tax in bid to clear stockpiles

Posted: 03 Sep 2013 10:59 PM PDT

HA NOI (VNS) — The Ministry of Finance has cut the coal export tax from 13 per cent to 10 per cent in a move to help coal producers reduce their high stockpiles. Under Circular 124/2013/TT-BTC, the tax cut takes effect this week.. The move was made following a proposal from the country’s largest coal [...]

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Sep 4: Vietnam gold increases to vnd38.5mln/tael, dollar stable

Posted: 03 Sep 2013 10:54 PM PDT

This morning Vietnam gold soared to VND38.6 million/tael in the early morning and then inched down to VND38.5 million as of 10:45 am today, following the world suit. Hochiminh was traded at VND38.28 million/tael for bid and VND38.48million/tael for ask respectively as of 10:10 am, Hanoi time. SJC in the North quoted at VND38.28 million/tael [...]

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VN shares decrease despite PMI reaching 4-month high

Posted: 03 Sep 2013 10:50 PM PDT

HA NOI (VNS) — Shares tumbled on both national stock exchanges during yesterday’s session while HSBC Vietnam announced the country’s Purchasing Managers’ Index (PMI) in August rallied to its highest level in four months. On the HCM City Stock Exchange, the VN-Index pared earlier gains to lose 0.11 per cent, reaching 472.17 points. Trading was [...]

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Vietnam VDB sells vnd90bln g-bonds on sept 3; yields flat

Posted: 03 Sep 2013 10:36 PM PDT

The Vietnam Development Bank (VDB) on Sept 3 sold VND90 billion worth of government bonds out of VND4 trillion auctioned at the Hanoi Stock Exchange (HNX) at the yields of 8.3-9.1% p.a., the bourse has said. In the auction, the VDB planned to sell VND3 trillion worth of government-backed bonds, distributed equally for tenors of [...]

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