The Business Times: Short-term Recovery Not in Sight

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• Short-term Recovery Not in Sight
• Dec 22: VN-Index Climbs Most in Seven Months on Global Gains, Fuel Price Cut
• Rental market needs investment
• Health of banking system in decline
• Vietnamese bankers gear up for e-banking
• Moody’s raises Vietnam credit rating
• Vietnam’s 2014 GDP to reach 5.93%
• Vinalines valued at $1 billion
• EVN to raise electricity price despite lower input material prices
• Vietnam doesn’t sell crude oil below production costs

Short-term Recovery Not in Sight Posted: 22 Dec 2014 07:50 PM PST The local stock market could not recover in the short term given falling global oil prices, according to brokerages. However, Viet Dragon Securities Company suggested investors take advantage of market volatility to acquire shares with good fundamentals and restructure their portfolios. The VN-Index lost a steep 5.5% last week against the week earlier and closed […] The post Short-term Recovery Not in Sight appeared first on Vietnam Business News.

Dec 22: VN-Index Climbs Most in Seven Months on Global Gains, Fuel Price Cut Posted: 22 Dec 2014 07:50 PM PST Stocks on the Hochiminh Stock Exchange advanced most since mid-May on Monday, thus trimming last week's loss, as investors cheered strong global gains and historic domestic gasoline price cut. The local exchange was given a strong boost by strong global rallies last week after Fed signaled to keep rate hike timing at its policy meeting […] The post Dec 22: VN-Index Climbs Most in Seven Months on Global Gains, Fuel Price Cut appeared first on Vietnam Business News.

Rental market needs investment Posted: 22 Dec 2014 07:37 PM PST Deputy Minister of Construction Nguyen Tran Nam spoke with Tin tuc (News) newspaper about financial policies for rental housing development projects. Why hasn’t rental housing development taken off already in Viet Nam? Increasing the amount of rental housing in the market was a major part of the national housing development strategy approved in 2009 by […] The post Rental market needs investment appeared first on Vietnam Business News.

Health of banking system in decline Posted: 22 Dec 2014 07:37 PM PST The health of the local banking system is falling, which is evident in its capital adequacy ratio (CAR) drop. According to statistics from the central bank, the local banking system reported a CAR of 13.22% as of the end of October, a mild slide compared to 13.43% at the end of September. The statistics did […] The post Health of banking system in decline appeared first on Vietnam Business News.

Vietnamese bankers gear up for e-banking Posted: 22 Dec 2014 07:36 PM PST Analysts have every reason to believe that the fiercest competition among banks is a technological one. Money remittances, for example, can be sent now from one person to another via Facebook accounts a service recently launched by Techcombank. Under the service, the receiver gets a password to be able to withdraw money from ATMs. Techcombank […] The post Vietnamese bankers gear up for e-banking appeared first on Vietnam Business News.

Moody’s raises Vietnam credit rating Posted: 22 Dec 2014 07:35 PM PST Moody's Investors Service has raised its outlook on Vietnam's banking system to stable from a negative assessment, noting improvements in economic stability and operating environment for lenders. The revision comes after the agency raised Vietnam's credit rating in July. Moody's report on Vietnam's banking system is based on a comprehensive analysis and data on the […] The post Moody's raises Vietnam credit rating appeared first on Vietnam Business News.

Vietnam’s 2014 GDP to reach 5.93% Posted: 22 Dec 2014 07:35 PM PST Indicators of economic-socio development in 2014 are estimated to reach and exceed the yearly plan, including GDP growth of about 5.93% and CPI of 3%, the Ministry of Planning and Investment has said. Credit growth is expected to reach the plan for 2014, with interest rates dropping by about 1.5% to 2% compared to the […] The post Vietnam's 2014 GDP to reach 5.93% appeared first on Vietnam Business News.

Vinalines valued at $1 billion Posted: 22 Dec 2014 07:33 PM PST The Vietnam Shipping Lines Corporation (Vinalines) has completed the process of value assessment to that it can carry out privatization in the first quarter of next year. According to consultants, the actual value of the parent company Vinalines at the time of December 31, 2013 is approximately VND21 trillion ($1 billion) compared to the book […] The post Vinalines valued at $1 billion appeared first on Vietnam Business News.

EVN to raise electricity price despite lower input material prices Posted: 22 Dec 2014 07:33 PM PST Electricity of Vietnam (EVN) is planning to raise the retail electricity price by 9.5 percent, the sharpest increase in three years, despite a low inflation rate that is predicted to be below 3 percent. The new electricity price would be VND1,652.19 per kwh, or VND146.34 per kwh higher than the current price. This would be […] The post EVN to raise electricity price despite lower input material prices appeared first on Vietnam Business News.

Vietnam doesn’t sell crude oil below production costs Posted: 22 Dec 2014 07:29 PM PST Vietnamese officials and experts have denied that the world's oil price has dropped to below $55, while the exploitation cost in Vietnam is $50-70 per barrel. Bloomberg newswire has quoted BP-sourced figures as reporting that the crude oil reserves in Vietnam are the second largest in East Asia, just under China, with 4.4 billion barrels, […] The post Vietnam doesn't sell crude oil below production costs appeared first on Vietnam Business News.

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