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PRESS DIGEST – Vietnam Newspapers – Nov 7, 2012

FINANCIAL NEWS:

TUOI TRE

-- Ho Chi Minh City-based Sacombank said its former chairman Dang Van Thanh had withdrawn from all the positions at the bank.

SAIGON GIAI PHONG

-- Banks have lowered their deposit rates on gold to 0.2-0.5 percent from 1.6 percent, although the central bank has extended the deadline by which lenders have to stop raising gold deposits, bankers said.

LAO DONG

-- Central bank Governor Nguyen Van Binh will be questioned by the National Assembly about bad debt and gold market management, while Finance Minister Vuong Dinh Hue will have to explain the state responsibility for managing the prices of essential goods, the government said.

-- FPT Corp said it had bought back 1,390 shares during Oct. 16-31, raising the total number of treasury shares to more than 76,000.

DAU TU

-- The central bank has planned to ban lenders from raising foreign currencies and gold deposits from around 2015, said Le Xuan Nghia, member of the National Financial and Monetary Policy Advisory Council.

ECONOMIC AND GENERAL NEWS:

LAO DONG

-- Vietnam's seafood exports this year are forecast to edge up 1 percent from 2011 to an estimated $6.2 billion, said the Vietnam Association of Seafood Exporters and Producers.

THOI BAO KINH TE VIETNAM

-- Vietnam's telephone imports as of mid-October soared 100.9 percent from a year earlier to $3.7 billion, the Vietnam Customs said.

DAU TU

-- State garment and textile group Vinatex said it would delay the partial privatization plan to June 2013 from the end of this year as initially targeted.

Source Reuters


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