brave-ledger-verification=c6e7ae9820dff1923729e2a580efb43dfca7423b9cad80885864c1acc8eb2a22

PRESS DIGEST – Vietnam Newspapers – Nov 14, 2012

FINANCIAL NEWS:

VIETNAM NEWS

-- Credit growth this year is expected to reach 5-6 percent after a January-October expansion of 2.2 percent, while local banks have prepared about 200 trillion dong ($9.6 billion) to pump into the economy from now until the Lunar New Year, said Nguyen Hoang Minh, deputy head of the central bank's branch in Ho Chi Minh City.

THOI BAO KINH TE VIETNAM

-- Between 10-30 tonnes of gold is illegally smuggled into Vietnam each year, said State Bank of Vietnam Governor Nguyen Van Binh.

LAO DONG

-- Vietnam's non-life insurance premiums in the first nine months of this year rose 11.3 percent from a year earlier to an estimated 17.04 trillion dong ($817.7 million), said the Finance Ministry's Insurance Supervision Department.

-- Shareholders of Au Viet Securities Co have approved termination of its membership in the exchanges, the company said.

-- Bad debt in Vietnam's banking system could reach about 375 trillion dong ($18 billion), or 15 percent of the total loans, economist Nguyen Tri Hieu said.

ECONOMIC AND GENERAL NEWS:

LAO DONG

-- Prime Minister Nguyen Tan Dung will attend the 21st ASEAN summit between Nov. 17-20, the Ministry of Foreign Affairs said.

THOI BAO KINH TE VIETNAM

-- Paper inventories between January-October jumped more than 27 percent from a year earlier to more than 17,000 tonnes due to contracting demand, the Vietnam Paper and Pulp Association said.

-- Vietnam and the U.K. have agreed to raise their trade to $4 billion next year, the Industry and Trade Ministry said, adding the trade value last year jumped 40 percent from 2010 to more than $3 billion.

($1=20,830 dong)

Source Reuters


Tagged as: , , , , , , ,