The Business Times: Cashew exports to rise despite shortage

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• Cashew exports to rise despite shortage
• Vietnam has trade surplus with Germany
• Samsung to invest $1.2b in electronics plant
• Oct 4: Vietnam gold’s bid falls, dollar stable
• Efforts to avert a debt default
• Vietnam public commercial joint stock bank makes its debut
• Credit growth falls behind target
• Deposits get free insurance with coverage of vnd800 million
• SBV says will weigh measured loosening
• Cross ownership a big headache in banking: MPI

Cashew exports to rise despite shortage Posted: 03 Oct 2013 10:06 PM PDT HA NOI (VNS) — Cashew export activities for local firms will increase by year end, but a lack of raw materials is expected to hamper export processing, said the Viet Nam Cashew Association (Vinacas). The export surge is possibly resulted from high cashew demands on the world market, with prices jumping from an average of [...] The post Cashew exports to rise despite shortage appeared first on Vietnam Business News.

Vietnam has trade surplus with Germany Posted: 03 Oct 2013 10:04 PM PDT Germany is currently Vietnam's largest trade partner in the EU with two-way trade turnover reaching US$9.065 billion in 2012. Of the figure, Vietnam's exports were valued at US$6.6 billion, up 27.7%, and its imports at US$2.5 billion, a year-on-year increase of 9.9%. In the first six months of this year, bilateral trade showed a year-on-year [...] The post Vietnam has trade surplus with Germany appeared first on Vietnam Business News.

Samsung to invest $1.2b in electronics plant Posted: 03 Oct 2013 10:00 PM PDT THAI NGUYEN (VNS) — Samsung Electro-Mechanics Vietnam (SEMV) Co Ltd on Wednesday received a licence from authorities in the northern province of Thai Nguyen to invest US$1.2 billion in electronics production. The Samsung Group affiliate would build a plant in the Yen Binh I Industrial Park to make integrated circuits and components for mobile devices, [...] The post Samsung to invest $1.2b in electronics plant appeared first on Vietnam Business News.

Oct 4: Vietnam gold’s bid falls, dollar stable Posted: 03 Oct 2013 09:58 PM PDT This morning, Vietnam gold eased by VND150,000/tael for bid but price for ask was kept unchanged from yesterday close, at VND37.5 million per tael. World gold inched down. Hochiminh was traded at VND37.20 million/tael for bid and VND37.50 million/tael for ask, respectively as of 09:40 am, Hanoi time. SJC in the North quoted at VND37.20 [...] The post Oct 4: Vietnam gold's bid falls, dollar stable appeared first on Vietnam Business News.

Efforts to avert a debt default Posted: 03 Oct 2013 09:42 PM PDT The Vietnam Asset Management Company (VAMC) has taken first steps towards addressing the banking system's non-performing loan (NPL) problem to support economic recovery efforts. Frist steps VAMC on October 1 signed a contract to buy VND2,450 billion in NPLs from the Bank for Agriculture and Rural Development (Agribank). VAMC Vice Chairman Nguyen Quoc Hung said [...] The post Efforts to avert a debt default appeared first on Vietnam Business News.

Vietnam public commercial joint stock bank makes its debut Posted: 03 Oct 2013 09:40 PM PDT The State Bank of Vietnam's Deputy Governor Dang Thanh Binh granted a license to the Vietnam Public Commercial Joint Stock Bank (PVcom Bank) in Hanoi on October 3. The PVcomBank was established following the merger of the PetroVietnam Finance Joint Stock Corporation (PVFC) and the Western Commercial Joint Stock Bank. PVcomBank has total assets of [...] The post Vietnam public commercial joint stock bank makes its debut appeared first on Vietnam Business News.

Credit growth falls behind target Posted: 03 Oct 2013 09:39 PM PDT Continuing economic difficulties are weighing on national efforts to achieve desired credit growth, say experts. An unnamed general director of a joint stock bank told Dau tu chung khoan (Securities Investment) that the general lending situation wasn”t satisfactory although loan costs had significantly declined. This year, deposit interest rates have decreased 2-3 percentage points, and [...] The post Credit growth falls behind target appeared first on Vietnam Business News.

Deposits get free insurance with coverage of vnd800 million Posted: 03 Oct 2013 09:38 PM PDT Insurers are introducing many attractive insurance products and packages, and providing more customer care services and incentive policies to draw idle capital from the public. In that context, commercial banks have flexibly developed insured deposit products as an optimal financial solution for customers, as it not only increases values but also ensures highest safety for [...] The post Deposits get free insurance with coverage of vnd800 million appeared first on Vietnam Business News.

SBV says will weigh measured loosening Posted: 03 Oct 2013 09:37 PM PDT More capital will be pumped into the economy in the rest of this year, as the State Bank of Vietnam (SBV) said it would seek to loosen both budgetary and monetary policies to outcast the gloomy cloud over the local economy. Speaking at the concluding session of the Autumn Economic Forum in Hue on Friday, [...] The post SBV says will weigh measured loosening appeared first on Vietnam Business News.

Cross ownership a big headache in banking: MPI Posted: 03 Oct 2013 09:35 PM PDT Cross ownerships among banks are still beyond control and complicate the process of tacking bad debts, said the Ministry of Planning and Investment (MPI) in a report sent to the Government's monthly meeting three days ago. In its report, MPI said cross ownerships in the banking industry were rather sophisticated and too difficult to be [...] The post Cross ownership a big headache in banking: MPI appeared first on Vietnam Business News.

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