The Business Times: Banks join to connect traffic, building firms

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• Banks join to connect traffic, building firms
• Banks cancel plans to increase chartered capital
• Villas and land plot sales competing with apartments
• Foreign investors interested in Vietnam’s wood industry
• First quarter sees thousands of company closings
• China, HK boost investment in Vietnam
• Each Vietnamese bears $905 public debt as of today: Economist
• BIDV earns VND2.5 Tln pre-tax profit in 5 months
• SBV revokes license to open representative office of Golden Bridge Capital
• MoF requests to cut oil prices, keep gasoline prices

Banks join to connect traffic, building firms Posted: 13 Jun 2014 06:18 PM PDT Eight banks, on Wednesday, signed agreements to provide services that help link subjects involved in construction and traffic development, local press reported. BIDV, Agribank, Vietinbank and Vietcombank. VNCB, SHB, LienVietPostBank and MHB make the up the eight. They will connect with each other as well as associate investors, contractors and building material suppliers. The move […] The post Banks join to connect traffic, building firms appeared first on Vietnam Business News.

Banks cancel plans to increase chartered capital Posted: 13 Jun 2014 06:18 PM PDT Most banks have had to cancel or delay their plans to increase chartered capital because of current economic conditions. Many commercial banks had announced that they were going to issue more shares to increase chartered capital. Viet A Bank, Nam A Bank, Saigon Bank and OCB revealed they would raise chartered capital to VND4 trillion […] The post Banks cancel plans to increase chartered capital appeared first on Vietnam Business News.

Villas and land plot sales competing with apartments Posted: 13 Jun 2014 06:16 PM PDT While apartment sales continue along a downward trend, developers of land plots and villas are hoping to attract buyers by reducing their prices. Traditionally, villas and land plots in Vietnam have been the most valuable property and their prices have remained commensurately high. However, due to low sales of villas and land plots, developers have […] The post Villas and land plot sales competing with apartments appeared first on Vietnam Business News.

Foreign investors interested in Vietnam’s wood industry Posted: 13 Jun 2014 06:15 PM PDT Vietnam's growing wood industry is interesting foreign investors, according to Chad Ovel, a partner at the private equity firm Mekong Capital, at a workshop in Ho Chi Minh City on June 12. Vietnam is now a potential destination for investors thanks to its stable macro-economy, curbed inflation, appropriate credit growth and abundant labour and consuming […] The post Foreign investors interested in Vietnam's wood industry appeared first on Vietnam Business News.

First quarter sees thousands of company closings Posted: 13 Jun 2014 06:11 PM PDT Consequences of the recession still haunt Vietnam's economy, as nearly 28,000 enterprises are reported to have shut their doors in the first five months of 2014. According to a report from the Business Registration Office of the Ministry of Planning and Investment, in the first five months of the year, 31,228 enterprises were established, with […] The post First quarter sees thousands of company closings appeared first on Vietnam Business News.

China, HK boost investment in Vietnam Posted: 13 Jun 2014 06:08 PM PDT Vietnam saw a sharp increase in foreign direct investment (FDI) capital from Hong Kong and China in the first five months of this year, according to the Department of Foreign Investment. Hong Kong was ranked the second-largest foreign investor in Vietnam between January and May with total FDI of $630 million, around four times its […] The post China, HK boost investment in Vietnam appeared first on Vietnam Business News.

Each Vietnamese bears $905 public debt as of today: Economist Posted: 13 Jun 2014 06:06 PM PDT Averagely, each Vietnamese now is bearing $905.18 of public debt as of 10:00 am today [June 13], Hanoi time, according to Global debt clock at The Economist.com. In details, Vietnam's public debts were estimated at $81.885 billion as of 10:00 am of June 13, 2014, increasing 10.9% from 2013 and jumping 469%versus 2003 ($14.4 billion),vov.vn […] The post Each Vietnamese bears $905 public debt as of today: Economist appeared first on Vietnam Business News.

BIDV earns VND2.5 Tln pre-tax profit in 5 months Posted: 13 Jun 2014 06:05 PM PDT Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) said, in the first 5 months of the year, the bank made VND2.5 trillion profit before tax, local newswire Tri Thuc Tre reported. As of May 31, 2014, total assets of the bank alone reached nearly VND572 trillion, an increase of 3% compared to […] The post BIDV earns VND2.5 Tln pre-tax profit in 5 months appeared first on Vietnam Business News.

SBV revokes license to open representative office of Golden Bridge Capital Posted: 13 Jun 2014 06:04 PM PDT On June 12, 2014, the State Bank of Vietnam (SBV) issued Decision No. 1172/QD-NHNN revoking license to open representative office of Golden Bridge Capital Co., Ltd. in Ho Chi Minh City. Accordingly, the Governor of the central bank decide to revoke the license to open representative office of foreign credit institutions in Vietnam No. 146/GP-NHNN […] The post SBV revokes license to open representative office of Golden Bridge Capital appeared first on Vietnam Business News.

MoF requests to cut oil prices, keep gasoline prices Posted: 13 Jun 2014 06:04 PM PDT The Ministry of Finance (MoF) has sent the documents requesting petroleum hubs to keep prices of gasoline and mazut while lowered prices of diesel, kerosene, thoibaonganhang.vn reported. In details, according to MoF, current retailed prices of A92 is lower than the base prices by VND441/litter; current retailed prices of mazut is lower than the base […] The post MoF requests to cut oil prices, keep gasoline prices appeared first on Vietnam Business News.

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