Saturday, June 14, 2014

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

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

Link to Vietnam Business News

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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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