The Business Times: Behind the second merger wave of banks

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• Behind the second merger wave of banks
• “Dr. Doom” bullish on Vietnam stocks
• Steel imports fall in both volume and value
• May 7: Vietnam central bank keeps Dollar exchange at VND21,036
• Vietnam central bank net withdraws VND3.402 Tln on May 6
• May 7: Vietnam gold edges up to VND35.51Mln/Tael
• Taiwan group to invest US$150m in Ha Nam
• Banks cut deposit interest rates as credit growth lags
• Rice exports projected to reach 1.8m tonnes in Q2
• Delta plans to swap rice for higher-value crops

Behind the second merger wave of banks Posted: 07 May 2014 01:54 AM PDT In recent times, information about bank mergers has been announced intensively. This development is consistent with the restructuring process of Vietnam's banking system. However, what is behind this information and how effective the mergers are still a mystery. At the annual general meeting (AGM) of Saigon Thuong Tin Commercial JS Bank (Sacombank), Kieu Huu Dung, […] The post Behind the second merger wave of banks appeared first on Vietnam Business News.

“Dr. Doom” bullish on Vietnam stocks Posted: 07 May 2014 01:52 AM PDT Dr. Marc Faber foresees a new global financial crisis that could be even worse than 2008.  Set to speak on June 19 at the VIR co-organised Vietnam Investment Forum, he will unveil his predictions for Vietnam and what stocks he has identified as safe havens in a potentially volatile market, Ha Thai writes. All doom […] The post "Dr. Doom" bullish on Vietnam stocks appeared first on Vietnam Business News.

Steel imports fall in both volume and value Posted: 07 May 2014 01:51 AM PDT Vietnam's imports of steels dropped by 1.6% on year in volume and 7.6% on year in value in the first 4 months of this year, vov.vn reported, citing data from the Ministry of Industry and Trade (MoIT). However, imports of steel products rose by 9.2% on year in value in the period, MoiT provided. In […] The post Steel imports fall in both volume and value appeared first on Vietnam Business News.

May 7: Vietnam central bank keeps Dollar exchange at VND21,036 Posted: 07 May 2014 01:49 AM PDT Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Wednesday, unchanged for more than10 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, commercial banks kept dollar prices unchanged, […] The post May 7: Vietnam central bank keeps Dollar exchange at VND21,036 appeared first on Vietnam Business News.

Vietnam central bank net withdraws VND3.402 Tln on May 6 Posted: 07 May 2014 01:49 AM PDT The State Bank of Vietnam (SBV) net withdrew VND3,402 trillion on May 6, 2014, local newswire NDH reported citing data from SSI Research. In details, the SBV pumped no money through open market operation (OMO) while withdrew VND4.4 trillion. As of May 5, the outstanding loans on OMO were at VND549 billion. On the day, […] The post Vietnam central bank net withdraws VND3.402 Tln on May 6 appeared first on Vietnam Business News.

May 7: Vietnam gold edges up to VND35.51Mln/Tael Posted: 07 May 2014 01:48 AM PDT This morning, Vietnam gold was traded up by VND10,000/tael versus yesterday close at VND35.51 million a tael. World gold eased in New York trade last night but rose in Asia trade this morning. As of 09:25 am today, Hanoi time, SJC Hochiminh was traded at VND35.47 million/tael for bid and VND35.51 million/tael for ask, respectively. […] The post May 7: Vietnam gold edges up to VND35.51Mln/Tael appeared first on Vietnam Business News.

Taiwan group to invest US$150m in Ha Nam Posted: 07 May 2014 01:45 AM PDT Tai Yuen Company Ltd, an affiliate of the Yunlon Group (Taiwan), will invest US$150 million in the construction of a textile plant in the northern province of Ha Nam. Chi Wei Kung, General Director of Tai Yuen, announced the plan at a working session attended by provincial officials on Monday. The director said the plant […] The post Taiwan group to invest US$150m in Ha Nam appeared first on Vietnam Business News.

Banks cut deposit interest rates as credit growth lags Posted: 07 May 2014 01:40 AM PDT Banks have continued to slash deposit interest rates amidst good liquidity and slow credit growth. According to the latest mobilising rates at ACB, one- to two-month deposit rates have dropped to only 5.5 per cent yearly, down to 0.4 per cent compared to the previous rate. The three-month rate fell to 5.6 per cent yearly […] The post Banks cut deposit interest rates as credit growth lags appeared first on Vietnam Business News.

Rice exports projected to reach 1.8m tonnes in Q2 Posted: 07 May 2014 01:38 AM PDT The Viet Nam Food Association (VFA) expects to export 1.8 million tonnes of rice for the second quarter this year, said association chairman Nguyen Hung Linh. He said that many enterprises have registered a large volume in rice export contracts so the nation could reach the target. Truong Thanh Phong, an advisor to the VFA […] The post Rice exports projected to reach 1.8m tonnes in Q2 appeared first on Vietnam Business News.

Delta plans to swap rice for higher-value crops Posted: 07 May 2014 01:38 AM PDT Authorities in the Cuu Long (Mekong) River Delta are planning to switch from low-yield rice to higher-value crops like maize, sesame, peanut, soybean, and others on 112,000ha by 2015, the Crop Production Department has said. As part of a master plan on restructuring agriculture to ensure sustainable development, they would also seek to use 3.8 […] The post Delta plans to swap rice for higher-value crops appeared first on Vietnam Business News.

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