The Business Times: Monetary policy shortcomings

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• Monetary policy shortcomings
• Seven outstanding finance-banking events in 2013
• SBV net withdraws vnd1,172 bln via OMO on dec 31
• Jan 2: Vietnam central bank keeps dollar exchange at vnd21,036
• Vietinbank’’s pre-tax profit estimated at vnd7.7 trillion in 2013
• Domestic mobile giants cleared of tariff-fixing
• Dung Quat sets targets for oil production
• Domestic retail gas prices fall
• Experts look back at a year in the markets
• SBV sells out 20,000 taels of gold at 76th auction

Monetary policy shortcomings Posted: 01 Jan 2014 08:49 PM PST Credit organisations have grown rapidly in the last months of 2013, proving lower interest rates have yet to take effect. The Government said 2013's fiscal and credit policy adjustments accorded with macroeconomic realities and helped businesses through difficulties Banks' interest rates dropped sharply in 2013. Conversely, total payment rapidly increased (above 16%). Credit growth resulted […] The post Monetary policy shortcomings appeared first on Vietnam Business News.

Seven outstanding finance-banking events in 2013 Posted: 01 Jan 2014 08:35 PM PST The economy in general and banking sector in particular faced challenges in 2013. Yet, compared to 2012, banking system situation has improved significantly with many remarkable achievements. Here are seven most outstanding events on the banking system in 2013. 1. The lowest interest rates since 2005 and the lowest CPI in ten recent years In […] The post Seven outstanding finance-banking events in 2013 appeared first on Vietnam Business News.

SBV net withdraws vnd1,172 bln via OMO on dec 31 Posted: 01 Jan 2014 08:23 PM PST The State Bank of Vietnam (SBV) pumped VND7,000 billion through open market operation (OMO) while withdrew VND8,172 billion, resulting in net withdrawal of VND1,172 billion on Dec 31, 2013, local newswire NDH reported, citing data from SSI Research. As of December 31, the total outstanding loans on OMO were VND12,202 billion. On the day, SBV […] The post SBV net withdraws vnd1,172 bln via OMO on dec 31 appeared first on Vietnam Business News.

Jan 2: Vietnam central bank keeps dollar exchange at vnd21,036 Posted: 01 Jan 2014 08:21 PM PST Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Thursday, 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, some commercial banks lowered dollar […] The post Jan 2: Vietnam central bank keeps dollar exchange at vnd21,036 appeared first on Vietnam Business News.

Vietinbank’’s pre-tax profit estimated at vnd7.7 trillion in 2013 Posted: 01 Jan 2014 08:15 PM PST In 2013, profit before tax of Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) is estimated at VND7.7 trillion, local newswire Tri Thuc Tre reported citing its chairman Pham Huy Hung. In 2013, Vietinbank's total assets increased by 13%, credit increased by 11% compared to 2012. Vietinbank's profit level fell compared to the […] The post Vietinbank'’s pre-tax profit estimated at vnd7.7 trillion in 2013 appeared first on Vietnam Business News.

Domestic mobile giants cleared of tariff-fixing Posted: 01 Jan 2014 08:12 PM PST Three mobile service providers, Viettel, MobiFone, and VinaPhone, have been cleared of suspicions that they violated regulations on tariff increases with their 3G fee hike. The Competition Administration Department of the Ministry of Industry and Trade reported this conclusion following an investigation of the 3G fee hike by the three mobile service providers on October […] The post Domestic mobile giants cleared of tariff-fixing appeared first on Vietnam Business News.

Dung Quat sets targets for oil production Posted: 01 Jan 2014 08:09 PM PST The Binh Son Refining and Petrochemical Company, which operates the Dung Quat Oil Refinery, has set a target of producing 5.18 million tonnes of oil in 2014. The figure, despite impressive, is still below last year’s production volume. The plan was unveiled at a conference held on Tuesday by the Binh Son Company under PetroVietnam, […] The post Dung Quat sets targets for oil production appeared first on Vietnam Business News.

Domestic retail gas prices fall Posted: 01 Jan 2014 08:08 PM PST Retail cooking gas prices decreased by VND43,000 ($2) to between VND443,000-VND450,000 ($21-21.4) per 12kg canister, as of yesterday in HCM City and surrounding cities and provinces. Do Trung Thanh, deputy head of the Business Department of Saigon Petro attributed the decreased cooking gas price to the reduced global price, noting that gas is being sold […] The post Domestic retail gas prices fall appeared first on Vietnam Business News.

Experts look back at a year in the markets Posted: 01 Jan 2014 08:04 PM PST The stock market in Viet Nam witnessed a strong recovery this year with the benchmark indices, market capitalisation and the involvement of foreign capital soaring over last year, according to the State Securities Commission.Also, the forecasts of economic indicators for next year were also pointing to a continuing recovery of the stock market. In a […] The post Experts look back at a year in the markets appeared first on Vietnam Business News.

SBV sells out 20,000 taels of gold at 76th auction Posted: 01 Jan 2014 08:03 PM PST 20,000 taels of gold were sold out in the 76th auction session held by the State Bank of Vietnam (SBV) on December 31, 2013, local newswire Vietnamplus reported. Out of eighteen bidders, sixteen licensed gold firms and credit institutions bought gold bullions at VND34.66 – 34.69 million/tael. This is considered a successful action as the […] The post SBV sells out 20,000 taels of gold at 76th auction appeared first on Vietnam Business News.

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