Vietnam Business News rss

Vietnam’s Five-Year Yield Falls to Two-Month Low on Bank Buying

Vietnam’s benchmark five-year bonds rose, sending the yield to a two-month low, on speculation banks bought the notes amid a slowdown in credit growth. The dong was steady. The value of outstanding loans in Vietnam may grow 5 percent this year, Central Bank Governor Nguyen Van Binh said in a televised address to the National Assembly in Hanoi yesterday, lagging behind a 14.4 percent increase in 2011, according to government data. Banks have bought 183 trillion dong ($8.87 billion) of government bonds this year, “a lot more” than in previous years, Binh said. The yield on the benchmark notes fell eight basis…

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Increasing cases of power theft in Vietnam raise public concern

HA NOI (VNS)- As many as 2,355 cases of power theft in northern provinces and cities were reported so far this year, alarming authorities who take responsibility for ensuring the safety of citizens and public property, according to Northern Power Corporation (EVN NPC). These thefts were generally conducted by installing spare meters or metal straps or switching meters, rather than tapping the grid for power as was common 10 years ago, according to EVN NPC. In An Duong District in the northern port city Hai Phong, someone placed metal straps on the electronic meters…

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Vietnam Exports 102,759 MT Pepper in Jan-Oct 2012

The export value increased 9.5% (60.6 million USD) and reached $697 million of which black pepper ushered in $564.4 million and white pepper $132.2 million. From the beginning of January to end of October, Vietnam exported 102,759 metric tons (mts) of pepper which included 88,435 mts black pepper and 14,324 mts white pepper, the total […]

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There Is Group Interest in the Banking System, SBV Governor Says

Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh admitted that there was group interest in the system of credit institutions, the local newswire Gafin.vn reported. Inspection results of 27 credit institutions showed that many lenders had been controlled by a group of shareholders who held key positions at these banks. Outstanding loans to the group of shareholders accounted for a great proportion of total lending, sometimes up to 90%, the Governor said. Particularly, lending to this group of shareholders is related to real estate, which drove bad debts to rise and commercial banks to suffer loss amid…

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US$69.9 million to upgrade urban areas in Can Tho by WB

The World Bank has funded US$69.9 million to help upgrade urban areas in Can Tho, a major city of Viet Nam, with interest of 2.5 per cent per year, according to the city’s Urban Upgrading Management Committee. Viet Nam’s government contributed $20.4 million. The project includes upgrading roads, water supply and drainage, electricity and light systems in low-income areas of Ninh Kieu, Binh Thuy, Cai Rang and O Mon districts. The funds will also go towards building a 5.5 ha resettlement area in Binh Thuy District with infrastructure including a school, healthcare centre and market. The project is scheduled to finish…

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Vietnam Prime Minister to head delegation to 21st ASEAN summit in Cambodia

HA NOI (VNS)– Prime Minister Nguyen Tan Dung plans to head a high-ranking delegation at the 21st ASEAN summit in Phnom Penh. The trip, initiated by Cambodian Prime Minister…

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Nov 14: UPCoM-Index Rises

The UPCoM-Index, the measure of 131 unlisted public companies closed higher today. The index added 0.04 point or 0.1% to 40.87. The market volume rose to 450,192 shares worth of VND2.56 billion. Market breadth was positive with 17 gainers, 7 losers, 4 unmoved, and the rest untraded. SDV was the biggest gainer, climbing 10% to finish at VND5,500 on a trade of 100 shares. CTH was the biggest loser, erasing 9.5% to close at …

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Nov 14: Foreigners Net Sell on HSX, Still Buy on HNX

Foreigners changed to net sell Vietnamese shares on the Hochiminh Stock Exchange but they remained net buyers on the smaller cap bourse Hanoi Stock Exchange. These players net sold VND10.75 billion worth o f shares on HSX after buying 1.63 million shares for VND41.24 billion and selling 3.05 million units for VND51.99 billion, accounting for 12.86% buying value and 16.21% selling value. Foreigners’ top net buying shares were KDC( VND6.4 billion), GAS(VND4.8 billion), VCB(VND4.4 bill ion), SBT ( VND2.2 billion), DPM(VND2 billion). Today, foreigners’ top net selling shares were MBB(-VND17.4 billion), HAG( -VND8 billion), STB(-VND3.2 billion), SJD(-VND2.9 billion) and…

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Nov 14: Vietnam Stocks Close Mixed, Liquidity Falls

Vietnamese shares closed in a mixed note today with draining liquidity as investors eyed government’s steps to boost ailing economy, large cap buoyed the Southern bourse. The benchmark VN Index added 2.49 points or 0.65 % to 387.71. Volume fell further by 16%to 24 million shares worth of VND320.8 billion. Put through trading contributed 1.9 […]

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