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Tag Archive for ‘Europe’

Oil Falls on Greek Aid Meetings, Japanese Contraction

Oil in New York dropped for the first time in three days as European policy makers met to discuss aid for Greece and Japan’s economy shrank. Futures fell 0.6 percent as euro-area finance ministers gathered in Brussels after Greek lawmakers passed a 2013 budget needed to unlock bailout funds. Japan’s economy contracted last quarter at an annual rate of 3.5 percent, the most since the earthquake and tsunami in early 2011. “As long as there is no resolution to the Greek crisis, markets will remain under pressure,” said John Kilduff, a partner at Again Capital LLC, a New York-based energy hedge…

Platinum, Palladium Shortage Most in a Decade on Supply

Platinum and palladium will return to the biggest shortages in at least a decade this year as strikes and safety stoppages in South Africa and falling sales from Russia cut supplies, Johnson Matthey Plc (JMAT) said. Labor disputes in South Africa will help cut platinum output to the least since 2000 and leave the market […]

Second Vietnamese bank enters Europe

Bank for Investment and Development of Vietnam (BIDV) has marked its presence in Europe with the opening of a representative office in Czech Republic’s capital Prague last week. It’s the second Vietnamese bank to have a European branch after Vietnam Bank for Industry and Trade (VietinBank), which has branches in Frankfurt and Berlin in Germany. […]

Japan’s economy shrinks, raising fears of recession

Japan’s economy shrank in the latest quarter, data showed Monday, raising fears it could slip into recession due to financial turmoil in Europe, a strong yen and a painful diplomatic row with China. The world’s third-largest…

Vietnam Business Briefs November 12, 2012

* Hoa Binh Rubber Company (HRC) has announced November 20 as the ex-dividend date to advance 2012 first round dividend in cash for share-holders at 15 percent. * Asia Commercial Bank has issued gold mobilization certificates with terms of four, five and six months and interest rates from 0.8 percent to 1.8 percent per annum. * Ba Ria-Vung Tau House Development Company (HDC) has launched the sale of 20 villas of Doi Ngoc Tuoc II project. * Petroleum Technical Services Corporation (PVS) obtained VND883 billion in after- tax profit as of the end of September, a 26 percent year-on-year increase. * Vietnam…

Overseas Vietnamese can boost Vietnam’s export sales

HA NOI (VNS) – There are currently some 2.7 million Viet Kieu (overseas Vietnamese) living in 90 countries and territories across the world. They present an extremely valuable market for products made in Viet Nam, with estimated annual spending on these items totalling about US$100 million. Meanwhile, the value of products bought in Viet Nam during their visits to the country adds up to tens of millions of US dollars. According to Do Thang Hai, director of the Ministry of Industry and Trade’s (MOIT) Trade Promotion Department, these figures are still very small compared to the…

Vietnam’s Seafood Export Target Within Reach?

(VOV) – Seafood businesses have struggled to earn US$6.2 billion from exports this year, US$300 million less than the set target. According to the Vietnam Association of Seafood Exporters and Processors (VASEP), the past 10 months have seen seafood export earnings hit US$5 billion, representing a year-on-year increase of 1.7 percent. In the context of […]

China wealth fund eyes Asia "as Western protectionism rises"

BEIJING – China’s sovereign wealth fund will focus more of its US$482 billion firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei said. The man charged with stewardship of a slice of the world’s largest store of foreign wealth lauded the British approach to overseas investment in public sector projects as one for the world to follow and said the policy…

Samsung had best-selling Q3 smartphone: survey

Samsung’s Galaxy S3 overtook Apple’s iPhone 4S in the third quarter to give the South Korean firm the world’s best-selling smartphone model for the first time ever, a research firm said Thursday. The survey from Strategy Analytics came, however, as Apple was launching the iPhone 5. Sales from both the iPhone 4S and iPhone 5 […]

Gold Set for Best Week Since January; ETPs Extend Gain to Record

Gold climbed to a three-week high and is poised for its best weekly performance since January as prospects of more U.S. stimulus and the debt crisis in Europe boosted demand, while exchange-traded products rose to a record. Spot gold increased as much as 0.4 percent to $1,738.19 an ounce, the most expensive since Oct. 19, […]