Monday, November 11, 2013

The Business Times: Ton Dong A to build $150mln steel sheet plant

The Business Times: Ton Dong A to build $150mln steel sheet plant

Link to Vietnam Business News

Ton Dong A to build $150mln steel sheet plant

Posted: 10 Nov 2013 08:58 PM PST

On November 5, Ton Dong A Corporation -one of the leading steel manufacturers in Vietnam officially announced its project of building the second steel sheet plant worth $150 million in Dong An 2 Industrial Park, Binh Duong Province. The plant will be located on an area of 12 hectares, worth $150 million with the most [...]

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Vinatex to build new textile complex in Hai Phong

Posted: 10 Nov 2013 08:56 PM PST

Vietnam National Textile and Garment Group (Vinatex) plans to build a complex of yarn, weaving, dyeing and sewing in An Lao district, Haiphong city, the group said in its website. On November 5, Hoang Ve Dung- Vice general director of Vinatex and leaders of Haiphong city met and discussed about construction of a new complex [...]

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Banks enjoy large interest rate margins

Posted: 10 Nov 2013 08:54 PM PST

 According to the FETP's research team, the margin between the lending and deposit interest rate is as high as 6 percent. Meanwhile, an economist says it is 4-5 percent and the State Bank affirms it is 2-3 percent. The margin between the lending and deposit interest rates has once again, become a hot topic for [...]

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Vietnam c.bank net injects vnd362bln via OMO on november 8

Posted: 10 Nov 2013 08:51 PM PST

The State Bank of Vietnam (SBV) withdrew VND320 bln via reverse repo and pumped VND682 bln via T-bill outright selling on November 8, 2013, local newswire Tri Thuc Tre reported. As for reverse repo transactions, there bid winning amount was VND101 billion, while the mature amount was VND320 billion, resulting in SBV's net withdrawal of [...]

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Banks quietly raise deposit interest rates to lure funds

Posted: 10 Nov 2013 08:49 PM PST

Banks have been quietly raising deposit interest rates again after efforts to cut rates in the middle of the year, local state-run newspaper Tuoi Tre reported. Currently, deposit rates for less than 6 month terms are at the ceiling of 7%/pa, while the long-term interest rates are close to 9%/pa. At Sacombank, deposit interest rates [...]

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Nov11: Vietnam gold continues easing to vnd36.6mln/tael, dollar stable

Posted: 10 Nov 2013 08:47 PM PST

This morning, Vietnam gold was traded down by VND40,000/tael from last weekend close, following the world suit. Hochiminh was traded at VND36.50 million/tael for bid and VND36.56 million/tael for ask respectively as of 09:50 am, Hanoi time. SJC in the North quoted at VND36.50 million/tael for bid and VND36.56 million/tael for ask. Techcombank gold prices [...]

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National assembly approves 2014 GDP growth target of 5.8%

Posted: 10 Nov 2013 08:45 PM PST

This morning, 84.5% of delegates of Vietnamese National Assembly (NA) approved 2014 Gross Domestic Products (GDP) growth of 5.8%, the Vnexpress.net reported. The 2014 GDP target is higher than the 2013 estimated figure of 5.4%. According to the National Assembly, Vietnam is in the difficult period, continues facing many challenges in the short term and can [...]

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Speculative stocks attract foreign investment

Posted: 10 Nov 2013 08:40 PM PST

The stock market saw strong cash flow into speculative stock last week as foreign investors continued to support the market as net buyers. On the HCM City Stock Exchange, the VN-Index closed 0.3 per cent up at 498.61 points, while the HNX-Index on the Ha Noi Exchange leaped 2 per cent to 63.29 points. The [...]

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Nov 11: Vietnam central bank keeps dollar exchange at vnd21,036, vietcombank rate down

Posted: 10 Nov 2013 07:17 PM PST

Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Monday, unchanged for more than 4 months. 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, Vietcombank lowereddollar by VND25/dollar for [...]

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VPBank’s profit after tax reaches 184b dong in q3/2013

Posted: 10 Nov 2013 07:14 PM PST

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) announced the consolidated financial report for Q3/2013 with sharp increases in the majority of the indicators…. On September 30 2013, cash and gold of VPBank increased from 799 billion dong to 1.154 trillion dong, up 44 percent compared to late 2012. Trading securities rose from 1.359 trillion dong [...]

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