The Business Times: SSC to tighten stock market monitoring

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• SSC to tighten stock market monitoring
• Vietjet Air pays $800 million to purchase GE engines
• Exxon Mobil signs power plant deal with PetroVietnam
• State-owned banks oversleep, big projects go to JS banks
• Trade surplus rises with Japan
• Interest rate ceiling on VND deposits to be continued in 2014
• SBV: No further delay in circular 02 application
• Vietnam c.bank net withdraws vnd30bln via OMO on dec 16
• SBV: Credit growth 8.83% as of dec 12, target 12-14% for 2014
• Lending interest rate may be disallowed to be lower than cost price

SSC to tighten stock market monitoring Posted: 17 Dec 2013 01:29 AM PST The State Securities Commission (SSC) said the restructuring and supervision of the stock market would be improved next year to ensure the market’s transparency and efficiency in operating. Minister of Finance Dinh Tien Dung said at SSC’s meeting last week that the commission should focus on solutions to expand the scale of operations and improve [...] The post SSC to tighten stock market monitoring appeared first on Vietnam Business News.

Vietjet Air pays $800 million to purchase GE engines Posted: 17 Dec 2013 01:24 AM PST After signing a contract worth more than $9 billion with Airbus in late September, Vietjet Air signed a $800 contract to bu engines of the General Electric (GE) & Snecma yesterday. The agreement was signed in Hanoi on December 16 during the visit to Vietnam of the U.S. Secretary of State – Senator John Kerry. [...] The post Vietjet Air pays $800 million to purchase GE engines appeared first on Vietnam Business News.

Exxon Mobil signs power plant deal with PetroVietnam Posted: 17 Dec 2013 01:16 AM PST Exxon Mobil and Viet Nam National Oil and Gas Group will build a gas and power plant in central Viet Nam to supply gas and power along the East Sea. The Dau Tu (Investment Review) newspaper reported that the two companies had begun to search for a site for the project, favouring the northeast area [...] The post Exxon Mobil signs power plant deal with PetroVietnam appeared first on Vietnam Business News.

State-owned banks oversleep, big projects go to JS banks Posted: 17 Dec 2013 01:16 AM PST While state-owned commercial banks–the big fish, have been taking slow footsteps, joint-stock banks with many disadvantages in comparison to state-owned banks, have made big leaps to scramble for good clients. Reports and statistics all showed the strong rise of joint-stock banks in recent years. In 2005, the capital mobilization and lending market shares held by [...] The post State-owned banks oversleep, big projects go to JS banks appeared first on Vietnam Business News.

Trade surplus rises with Japan Posted: 17 Dec 2013 01:13 AM PST Viet Nam experienced a trade surplus of US$1.8 billion with Japan over the past 11 months, surging 33 per cent over last year, according to the General Department of Customs. Statistics indicated that two-way trade between Viet Nam and Japan topped $22.94 billion in the reviewed period, representing a modest increase of 2 per cent. [...] The post Trade surplus rises with Japan appeared first on Vietnam Business News.

Interest rate ceiling on VND deposits to be continued in 2014 Posted: 17 Dec 2013 01:02 AM PST In 2014, the State Bank of Vietnam (SBV) will continue to apply the interest rate ceiling on deposits in VND to stabilize market interest rate level, local newspaper Banking Times reported. SBV will consider removing the deposit rate ceiling when the currency market is stable and liquidity of credit institution system is stably improved. SBV [...] The post Interest rate ceiling on VND deposits to be continued in 2014 appeared first on Vietnam Business News.

SBV: No further delay in circular 02 application Posted: 17 Dec 2013 01:01 AM PST This is the confirmation of Dang Van Thao, the State Bank of Vietnam (SBV)'s Deputy Chief Inspector at a press conference to discuss on implementing banking duties in 2014, local newswire Tri Thuc Tre reported. Circular 02 regulates asset classification, the levels and methods of risk provisioning and the use of provisions to handle risks [...] The post SBV: No further delay in circular 02 application appeared first on Vietnam Business News.

Vietnam c.bank net withdraws vnd30bln via OMO on dec 16 Posted: 16 Dec 2013 09:14 PM PST The State Bank of Vietnam (SBV) pumped VND140 billion through open market operation (OMO) while withdrew VND170 billion, resulting in net withdrawal of VND30 billion on December 16, 2013, local newswire NDH reported, citing data from SSI Research. As of December 16, the total outstanding loans on OMO were VND470 billion. On the day, SBV [...] The post Vietnam c.bank net withdraws vnd30bln via OMO on dec 16 appeared first on Vietnam Business News.

SBV: Credit growth 8.83% as of dec 12, target 12-14% for 2014 Posted: 16 Dec 2013 08:54 PM PST As of December 12, 2013, credit of the whole credit institution system reached only 8.83% compared to the end of 2012. For 2014, the State Bank of Vietnam (SBV) sets the credit growth target of 12-14%, local newswire Tri Thuc Tre reported. As of December 12, 2013, credit of the whole credit institution system reached [...] The post SBV: Credit growth 8.83% as of dec 12, target 12-14% for 2014 appeared first on Vietnam Business News.

Lending interest rate may be disallowed to be lower than cost price Posted: 16 Dec 2013 08:53 PM PST The race to lower the lending interest rate, even lower than the cost price, will soon no longer be encouraged but it will be inspected and processed by the State Bank of Vietnam (SBV). This decision has just been issued by the central bank to avoid the unfair competition. However, not all commercial banks support [...] The post Lending interest rate may be disallowed to be lower than cost price appeared first on Vietnam Business News.

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