The Business Times: Anti-inflationary measures effective

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• Anti-inflationary measures effective
• Vietnam learns China’s experience in dealing with bad debts
• PM: ’’Definitely continue gold import – export monopoly’’
• Vietnamese financier faces life sentence
• SHB aims for its own subsidiary in Laos
• VDB sells vnd98 billion g-bonds on dec 17
• Dec 18: Vietnam central bank keeps dollar exchange at vnd21,036
• Vietnam c.bank’s injection equal to withdrawal on OMO on dec 17
• Nam A Bank allowed to expand operation scale
• Banks obtain profits thanks to pending forex rate

Anti-inflationary measures effective Posted: 18 Dec 2013 12:59 AM PST Vietnam is on track to bring inflation under control this year, rising just 6% over 2012 – a record low in the past 10 years, according to the General Statistics Office (GSO) leader. In an interview granted to Vietnam News Agency, GSO Director General Nguyen Bich Lam said the government has succeeded in reining in […] The post Anti-inflationary measures effective appeared first on Vietnam Business News.

Vietnam learns China’s experience in dealing with bad debts Posted: 18 Dec 2013 12:52 AM PST Chinese and Vietnamese economists gathered in Hanoi on December 17 to share experience in managing and dealing with bad debts. At the workshop, an expert from the Financial Research Institute under the Chinese Ministry of Finance said China's bad debts have risen from the Chinese State-owned commercial banks, accounting for one-third of their total bank […] The post Vietnam learns China's experience in dealing with bad debts appeared first on Vietnam Business News.

PM: ’’Definitely continue gold import – export monopoly’’ Posted: 18 Dec 2013 12:51 AM PST Highly appreciating regulating results of the gold market, the Prime Minister asked the State Bank of Vietnam (SBV) in 2014 to be more decisive and affirmative under pressure, local newswire VNExpress reported. Attending the banking conference on result summary and deployment of tasks  on December 18, 2013, the Prime Minister asked SBV, despite a lot […] The post PM: ''Definitely continue gold import – export monopoly'' appeared first on Vietnam Business News.

Vietnamese financier faces life sentence Posted: 18 Dec 2013 12:49 AM PST Nguyen Duc Kien, one of Vietnam’s most powerful financial figures, may face life sentence for violating state regulations on economic management. Kien has been charged with illegal business activities, extortion, asset appropriation, tax evasion and a breach of state regulations on international economic management. On December 15, the Supreme People”s Procuracy filed the charges on […] The post Vietnamese financier faces life sentence appeared first on Vietnam Business News.

SHB aims for its own subsidiary in Laos Posted: 18 Dec 2013 12:45 AM PST SBH General Director Nguyen Van Le told at a meeting in Hanoi on December 17 with the Governor of the Lao Central Bank, Somphao Phaysith. SHB opened its branch in Laos in August 2012. After more than one year of operation, the branch has developed steadily with its total loans reaching VND585 billion (US$27.8 million), […] The post SHB aims for its own subsidiary in Laos appeared first on Vietnam Business News.

VDB sells vnd98 billion g-bonds on dec 17 Posted: 17 Dec 2013 08:33 PM PST The Vietnam Development Bank (VDB) on December 17, 2013 sold VND98 billion worth of government-backed bonds out of VND98 trillion auctioned at the Hanoi Stock Exchange (HNX) at the yields of 9.45% pa, local newswire NDH reported. In the auction, the VDB planned to sell VND98 billion worth of 5-year government-backed bonds. There were 2 […] The post VDB sells vnd98 billion g-bonds on dec 17 appeared first on Vietnam Business News.

Dec 18: Vietnam central bank keeps dollar exchange at vnd21,036 Posted: 17 Dec 2013 08:28 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Wednesday, unchanged for 5 months and a half. 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, some commercial banks lowered, […] The post Dec 18: Vietnam central bank keeps dollar exchange at vnd21,036 appeared first on Vietnam Business News.

Vietnam c.bank’s injection equal to withdrawal on OMO on dec 17 Posted: 17 Dec 2013 08:27 PM PST The State Bank of Vietnam (SBV) pumped VND100 billion through open market operation (OMO) while withdrew VND100 billionon December 17, 2013, local newswire NDH reported, citing data from SSI Research. As of December 17, the total outstanding loans on OMO were VND470 billion. On the day, SBV issued VND997 billion Treasury bills and there was […] The post Vietnam c.bank's injection equal to withdrawal on OMO on dec 17 appeared first on Vietnam Business News.

Nam A Bank allowed to expand operation scale Posted: 17 Dec 2013 08:26 PM PST Governor of the State Bank of Vietnam decided to add the operation license of Nam A Commercial Joint Stock Bank (Nam A Bank). Specifically, the SBV approved to add Item 8 of operation license No. 0026/NH-GP dated on August 22 1992 granted by the Governor of the SBV to Nam A Bank with operation contents […] The post Nam A Bank allowed to expand operation scale appeared first on Vietnam Business News.

Banks obtain profits thanks to pending forex rate Posted: 17 Dec 2013 08:26 PM PST "Pending" the forex rate too long is beneficial for banks in the current difficult business context. According to Nguyen Da Hung, a banking specialist, the forex rate has been being kept very stable during recent years. If in 2010, the forex rate raised up to 9.68 percent, in 2012, the forex rate saw a fall […] The post Banks obtain profits thanks to pending forex rate appeared first on Vietnam Business News.

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