The Business Times: Vietnamese tycoons lost over $85 millions yesterday morning

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• Vietnamese tycoons lost over $85 millions yesterday morning
• Banks acquiring finance companies to develop retail banking
• Vietnam calls for nearly $60 billion of foreign capital for major projects
• The weasel coffee legend
• Vietnam takes big losses over tobacco smuggling
• Consumer confidence in Vietnam reaches 2-year high
• The rise of budget fashion brands
• Vietnam Central Bank Confirms No Possibility for VND Devaluation

Vietnamese tycoons lost over $85 millions yesterday morning Posted: 08 May 2014 07:23 PM PDT The stock market fell sharply this morning may be due to the psychological impact of information on the East Sea conflict. The session saw the biggest decline since 2001. The VN-Index lost more than 32 points while the HNX- Index lost 4.9 points. stock exchange, vn-index, tycoons The assets of the richest on the Vietnamese […] The post Vietnamese tycoons lost over $85 millions yesterday morning appeared first on Vietnam Business News.

Banks acquiring finance companies to develop retail banking Posted: 08 May 2014 07:22 PM PDT Only one commercial bank, SHB, has officially announced its plan to acquire a finance company this year. However, analysts say this is not an unusual phenomenon. The State Bank's latest report on finance companies disclosed that Vietnam had 18 companies by June 30, 2013. However, one of them, the PetroVietnam Finance Corporation (PVFC), has since […] The post Banks acquiring finance companies to develop retail banking appeared first on Vietnam Business News.

Vietnam calls for nearly $60 billion of foreign capital for major projects Posted: 08 May 2014 07:19 PM PDT The Vietnamese government is calling for new infusions of foreign investment in infrastructure and agriculture projects. Prime Minister Nguyen Tan Dung has approved the list of national projects calling for outside funding from now to 2020. The list consists of 127 projects divided into five groups: technical infrastructure; social infrastructure; agriculture; agricultural preservation and processing; […] The post Vietnam calls for nearly $60 billion of foreign capital for major projects appeared first on Vietnam Business News.

The weasel coffee legend Posted: 08 May 2014 07:19 PM PDT There are three weasel coffee producers in Vietnam, namely Trai Ham, Trung Nguyen and Huyen Thoai Nui. Though taking losses with the luxurious coffee, they still pour more money into its production, hoping to conquer the world with this unique Vietnamese beverage. Nguyen Quoc Minh, Director of Trai Ham Weasel Coffee Company, was a lawyer […] The post The weasel coffee legend appeared first on Vietnam Business News.

Vietnam takes big losses over tobacco smuggling Posted: 08 May 2014 07:09 PM PDT Each year, some 600-700 million cigarette packs are smuggled into Vietnam, causing losses of nearly $190 million to the state treasury, says Mr. Do Thanh Lam, Deputy Director of the Market Management Agency. Lam says that prevention of cigarette smuggling is one of the five key tasks of the Market Management Agency this year. In […] The post Vietnam takes big losses over tobacco smuggling appeared first on Vietnam Business News.

Consumer confidence in Vietnam reaches 2-year high Posted: 08 May 2014 05:20 PM PDT According to a newly-released report by Nielsen, a market research firm, the index of consumer confidence in Vietnam in the first quarter of 2014 rose slightly to 99 points, from 98 points in the last quarter of 2013. This is the highest level since the fourth quarter of 2011 Consumer confidence indexes in Southeast Asia, […] The post Consumer confidence in Vietnam reaches 2-year high appeared first on Vietnam Business News.

The rise of budget fashion brands Posted: 08 May 2014 03:23 PM PDT Over the years people, especially the rich, have had great preferences for expensive foreign design fashion items. But it seems this market trend has been superseded by local budget fashion brands that are more trendy but much cheaper. Prominent budget fashion brands Just a click on Facebook can return around ten popular budget brands with […] The post The rise of budget fashion brands appeared first on Vietnam Business News.

Vietnam Central Bank Confirms No Possibility for VND Devaluation Posted: 08 May 2014 11:37 AM PDT Despite of many proposals to adjust the foreign exchange rate, leaders of the State Bank of Vietnam (SBV) confirmed there will be no VND devaluation, local newswire Bao Dau tu reported. In the last Spring Economic Forum, when some economists voiced proposals that the central bank should adjust the foreign exchange rate. However, in the […] The post Vietnam Central Bank Confirms No Possibility for VND Devaluation appeared first on Vietnam Business News.

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