The Business Times: Phu Quoc hooks up to national power grid

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• Phu Quoc hooks up to national power grid
• Petrol prices primed for stability
• Blue chip shares help drive national bourses
• HNX-Index to be phased out in exchange revamp
• Vietnam inflation not to soar at the year end: HSBC
• Telcos instructed to work alongside OTT firms
• Vietnam sets aside concerns over exchange rate
• Nov 6: Vietnam central bank keeps dollar exchange at vnd21,036
• City’’s foreign-currency credits tumble
• Vietnam struggles to minimize dollarization

Phu Quoc hooks up to national power grid Posted: 05 Nov 2013 08:42 PM PST KIEN GIANG (VNS) — The power supply from the national grid is expected to pave the way for socio-economic development on Phu Quoc Island when an underwater 110kV cable connecting the district island with Ha Tien Town is installed later this month. According to the Southern Power Company under the Electricity of Viet Nam Corporation [...] The post Phu Quoc hooks up to national power grid appeared first on Vietnam Business News.

Petrol prices primed for stability Posted: 05 Nov 2013 08:40 PM PST HA NOI (VNS)— Domestic fuel retail prices would remain unchanged despite decreasing global prices, said Vo Van Quyen, head of the Ministry of Industry and Trade (MoIT)’s Domestic Market Department. Speaking at a press conference in Ha Noi on Monday, Quyen said the drop in global prices was not enough for local fuel traders to [...] The post Petrol prices primed for stability appeared first on Vietnam Business News.

Blue chip shares help drive national bourses Posted: 05 Nov 2013 08:39 PM PST HA NOI (VNS)— Shares finished higher on both national stock exchanges yesterday. On the HCM City Stock Exchange, the VN-Index advanced 0.55 per cent to reach 499.79 points. The total trading value reached VND865.334 billion (US$41.2 million) on the exchange of 75.85 million shares. The VN30-Index, tracking the southern city’s top shares of capitalisation and [...] The post Blue chip shares help drive national bourses appeared first on Vietnam Business News.

HNX-Index to be phased out in exchange revamp Posted: 05 Nov 2013 08:38 PM PST HA NOI (VNS)— The HNX-Index will be replaced by a new benchmark index, the HNXFF-Index, in a year’s time, the Ha Noi Stock Exchange has announced recently. The new index will be put into operation in December. After another year, the HNX-Index will no longer exist. The HNXFF-Index’s debut value will be the HNX-Index’s December [...] The post HNX-Index to be phased out in exchange revamp appeared first on Vietnam Business News.

Vietnam inflation not to soar at the year end: HSBC Posted: 05 Nov 2013 08:38 PM PST Vietnam's inflation will stay at low level due to slow domestic demand and low global oil prices, the HSBC bank said in its recent release. Factors can accelerate Vietnam's inflation are higher commodity prices at the end of the year that had shown in the October's Consumption Price Index (CPI). However, HSBC also predicted that [...] The post Vietnam inflation not to soar at the year end: HSBC appeared first on Vietnam Business News.

Telcos instructed to work alongside OTT firms Posted: 05 Nov 2013 08:36 PM PST HA NOI (VNS)— The Ministry of Information and Communications (MIC) has asked telecoms companies to co-operate with businesses providing over-the-top (OTT) services to allow free phone calls and messages for users. The request was enshrined in Instruction No75 on telecoms issued on October 30 and signed by Minister Nguyen Bac Son. Telecom companies are required [...] The post Telcos instructed to work alongside OTT firms appeared first on Vietnam Business News.

Vietnam sets aside concerns over exchange rate Posted: 05 Nov 2013 08:34 PM PST After sharply rising in July, the exchange rate is now easing and according to some experts, the rate will remain stable until the end of the year. The USD continues to hold steady after dropping slightly. Specifically, the dollar-purchasing price of the banking system has ranged from VND21,050 and VND21,075 per USD and the dollar-selling [...] The post Vietnam sets aside concerns over exchange rate appeared first on Vietnam Business News.

Nov 6: Vietnam central bank keeps dollar exchange at vnd21,036 Posted: 05 Nov 2013 08:30 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Wednesday, 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, commercial banks offered VND21,060-21,080/dollar  for bid and VND21,115-21,120/dollar for [...] The post Nov 6: Vietnam central bank keeps dollar exchange at vnd21,036 appeared first on Vietnam Business News.

City’’s foreign-currency credits tumble Posted: 05 Nov 2013 08:30 PM PST Banks based in HCMC were estimated to offer foreign-currency credits with the total value equivalent to VND152 trillion as of the end of October, a 19.3% contraction compared to the end of 2012. Meanwhile, foreign-currency mobilization of local banks dropped just a slight 0.39% to over VND176 trillion, according to a report of the central [...] The post City'’s foreign-currency credits tumble appeared first on Vietnam Business News.

Vietnam struggles to minimize dollarization Posted: 05 Nov 2013 08:29 PM PST Vietnam is mulling to legalize foreign currencies conversion into local money as gifts in an effort to control dollarization, local state-run newspaper Tuoi Tre reported Tuesday. This is one of the contents of the draft decree to replace Decree 160 guiding the implementation of the Foreign Exchange Ordinance. The State Bank of Vietnam (SBV) is [...] The post Vietnam struggles to minimize dollarization appeared first on Vietnam Business News.

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