The Business Times: 400 SOEs bankrupt or dissolved in 2013: Finance Ministry report

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• 400 SOEs bankrupt or dissolved in 2013: Finance Ministry report
• Anti-dumping duty levied on steel pipes
• New airport needed for southern hub
• BaoViet Life increases charter capital to vnd2 trillion
• ATMs overloaded for Tet
• Jan 8: Vietnam central bank keeps dollar exchange at vnd21,036, vietcombank rate up
• Vietnam bond issuance surges in 2013
• Positive signs for banking sector in 2014
• Banks up on higher foreign stakes
• Real estate credit to be loosened

400 SOEs bankrupt or dissolved in 2013: Finance Ministry report Posted: 07 Jan 2014 10:51 PM PST More than 400 State-owned enterprises (SOEs) declared bankruptcy or were dissolved last year, according to the Ministry of Finance. A report from the ministry said that around 6,400 units last year across the country were restructured, of which 3,659 businesses were recapitalised, while 1,022 companies were restructured into one-member limited companies. Another 380 companies put […] The post 400 SOEs bankrupt or dissolved in 2013: Finance Ministry report appeared first on Vietnam Business News.

Anti-dumping duty levied on steel pipes Posted: 07 Jan 2014 10:49 PM PST The United States’ Department of Commerce (DoC) has said that Viet Nam and two other Southeast Asian countries had dumped their welded stainless steel pressure pipes in the American market. Following a preliminary investigation, Son Ha International Corporation and Mejonson Industrial Viet Nam Co will face a preliminary anti-dumping duty of 17.72 per cent, while […] The post Anti-dumping duty levied on steel pipes appeared first on Vietnam Business News.

New airport needed for southern hub Posted: 07 Jan 2014 07:22 PM PST  Ho Chi Minh City and Dong Nai Province have urged the government to make a decision on Long Thanh International Airport project as quickly as possible. Ho Chi Minh City's Tan Son Nhat Airport was projected to receive 13 million passengers a year by 2015, but handled 20 million passengers in 2013. The airport can […] The post New airport needed for southern hub appeared first on Vietnam Business News.

BaoViet Life increases charter capital to vnd2 trillion Posted: 07 Jan 2014 07:20 PM PST BaoViet Life Insurance Corporation said the Ministry of Finance has approved its increase of charter capital from VND1.5 trillion to VND2 trillion, local newspaper Saigon Economic Times reported. With this new capital, BaoViet Life (owned 100% by BaoViet Holdings) has joined the leading group in life insurance market regarding capital size. The additional capital is […] The post BaoViet Life increases charter capital to vnd2 trillion appeared first on Vietnam Business News.

ATMs overloaded for Tet Posted: 07 Jan 2014 07:18 PM PST Banks say they will try to keep a smooth ATM maintenance service on Tet, when the demand for cash sharply increase. Labourers in industrial zones line up in front of the ATM machines, hoping that the machine will not run out of cash or have technical problems. Huong, an employee at Bac Thang Long Industrial […] The post ATMs overloaded for Tet appeared first on Vietnam Business News.

Jan 8: Vietnam central bank keeps dollar exchange at vnd21,036, vietcombank rate up Posted: 07 Jan 2014 07:16 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Wednesday, unchanged for more than 6 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, majority of commercial banks kept […] The post Jan 8: Vietnam central bank keeps dollar exchange at vnd21,036, vietcombank rate up appeared first on Vietnam Business News.

Vietnam bond issuance surges in 2013 Posted: 07 Jan 2014 07:14 PM PST More than VND40 trillion (US$1.89 billion) worth of corporate bonds were issued last year, four times the value of the previous year’s issuance, news website thoibaokinhtesaigon reported. The figure is certain to be even higher since details of some issuances are not publicly known and Vietnam's largest shopping mall owner, Vingroup Joint Stock Co., issued […] The post Vietnam bond issuance surges in 2013 appeared first on Vietnam Business News.

Positive signs for banking sector in 2014 Posted: 07 Jan 2014 07:12 PM PST Encouraging movements in business activities, bank services, liquidity, credit and capital mobilisation in the banking system in the fourth quarter of 2013 signal a brighter 2014 for the sector.  This is the outcome of a business trend survey of credit institutions in Vietnam for Q1 of 2014. The survey was conducted from November 22 to […] The post Positive signs for banking sector in 2014 appeared first on Vietnam Business News.

Banks up on higher foreign stakes Posted: 07 Jan 2014 07:10 PM PST  Prices of bank shares rose yesterday after the release of Decree 01/2014/ND-CP on lifting foreign ownership in Vietnamese credit institutions. According to the new regulation, a foreign strategic partner can hold 20 per cent in domestic banks, up from 15 per cent as set out in Decree 69/2007/ND-CP. As institutional investors, foreign organisations are allowed […] The post Banks up on higher foreign stakes appeared first on Vietnam Business News.

Real estate credit to be loosened Posted: 07 Jan 2014 07:09 PM PST This is the confirmation by the Chairman of the National Financial Supervisory Commission (NFSC) Vu Viet Ngoan in the seminar “Financial and credit policy for real estate in 2014 ” on January 6, 2014, local newspaper Tuoi Tre reported. During the past time, lending interest rates for real estate sector has been cut down significantly. […] The post Real estate credit to be loosened appeared first on Vietnam Business News.

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