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PRESS DIGEST – Vietnam Newspapers – Nov 9, 2012

FINANCIAL NEWS:

VIETNAM NEWS

-- The central bank plans to buy gold from the public to prevent gold hoarding by wary savers, said governor Nguyen Van Binh.

LAO DONG

-- Asia Commercial Bank said it has offered gold deposit certificates with rates of 0.8-1.8 percent.

-- Partly private VBBank has received the central bank's approval to raise the registered capital to 5.7 trillion dong ($273.7 million) from 2.05 trillion dong.

-- VietinBank , the country's second biggest partly private lender by assets, has signed a long-term $253.1 million credit contract for PetroVietnam Exploration and Production Company's Peru-based oil block 67 project which is scheduled to pump its first commercial oil in 2013 with an initial output of 6,000 barrel per day.

THOI BAO KINH TE VIETNAM

-- Saigon Securities Inc said it would pay a cash dividend of 1,000 dong (5 US cents) per share, or 10 percent of the face value, on Dec. 14.

ECONOMIC AND GENERAL NEWS:

TUOI TRE

-- Top domestic fuel importer and distributor Petrolimex made pre-tax losses at 1.4 trillion dong ($67.2 million) in 2011 while its market share dropped to 48 percent from 50 percent two years earlier, said the State Audit.

DAU TU

-- The parliament said in a resolution it has approved the government's economic targets for 2013 including gross domestic product growth at 5.5 percent, inflation at 8 percent, exports growth at 10 percent.

($1=20,830 dong)


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