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Tag Archive for ‘Gold’

Land in Hanoi’s old quarters as expensive as gold

The land price in old quarters is quoted at nearly VND1 billion per square meter, but few plots are available for sale. A report by the Gachvang real estate trading floor shows that the price of land and houses in old quarters in Hanoi has increased by 20-40 percent compared with earlier this year. Dao […]

Gold to Gain to $2,000 on Money Printing, Deutsche Bank Says

Gold will probably rally to a record above $2,000 an ounce next year as central banks ramp up stimulus to sustain the recovery, according to Raymond Key, London-based global head of metals trading at Deutsche Bank AG. “We’ll take out $2,000, we’ll go higher,” Key said in an interview in Hong Kong, where he attended […]

Vietnam Putting an End to Dollarization

According to schedule, to 2015 – 2016, deposits and loans in foreign currency will be fully terminated in the Vietnam market. According to the roadmap against the gold and dollarization of the Vietnamese Government, gold influence will be demolished by 2012 and dollarization by 2015. ‘Goldization’ should have ended on November 25 last year, but […]

Vietnam lawmakers debate ways to reinvigorate economy

HA NOI (VNS)– Questions about how to provide businesses with access to loans, settle bad debts, manage the gold market and ensure dam safety fueled a heated question and answer session yesterday between National Assembly deputies and Government officials. Answering a question about the gap between world and domestic gold prices, State Bank of Viet Nam governor Nguyen Van Binh said that when the domestic gold price went up, the government in the past had to import gold to stabilize the market, which could negatively affect foreign currency reserves. He said the government had…

Vietnam Central Bank Seals Gold-Casting Moulds of All 8 Non-SJC Gold Brands

All eight non-SJC gold brands previously licensed to produce bullion have already handed over their gold-casting moulds for the central bank to seal and manage, the local newswire VnExpress reported, citing its private sources. These firms include ACB, Southern Bank’s Gold Company, Sacombank SBJ, Agribank AJC and PNJ in Ho Chi Minh City; Ngoc Tham Gold Company in Tien Giang; as well as DOJI and Bao Tin Minh Chau in Hanoi. The gold-casting mould handover was initiated by gold companies, who thought the move would enhance the transparency in bullion production, as they were no longer allowed…

Gold Settles Above $1,724 as Europe’s Troubles Weigh

Platinum group metals (PGM) rose sharply on Tuesday after a bullish forecast that production outages earlier this year could create a supply deficit, while gold traded flat as investors awaited more clarifications on Greek aid by the euro zone. After a choppy session, spot gold eased by more than $3 to trade below $1,725. U.S. gold futures for December delivery lost $6.10 to settle at $1,724.80 an ounce. Palladium rose over 4.5 percent, on track for its biggest one-day gain since December 2011, after PGM specialist and refiner Johnson Matthey said it expects palladium to record its biggest deficit since…

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 […]

VIetnam Deposit Rates Cool Down

The act of breaking the deposit rate cap has not ended, but deposits rate at many banks have slightly declined against October. In October, tellers at a large joint-stock commercial banks in HCMC offered depositors interest rates of over 12% per year for deposits of VND1 billion or above. On Monday, the rates fell to […]

Vietnam: Keeping bees more than a honey spinner

Farmer Vo Van Kiet took to keeping bees as a way to pull himself out of poverty. He soon became so successful he was called on to share his knowledge with other war veterans. Phan Anh reports. Returning home after completing a military mission to save Cambodia from the Khmer Rouge’s genocide in 1987, Vo Van Kiet decided to bring his family out of poverty once and for all. That thought brought him to bee farming in his poor home village in the southern province of Ben Tre. Rising from failure Kiet’s parents left…

Vietnam cbank says 8.82 pct of loans are bad, pledges action

(Reuters) – Non-performing loans in Vietnam’s banking system reached 8.82 percent of total lending at the end of September and are difficult to deal with, the country’s central bank governor said on Tuesday. Nguyen Van Binh also told the parliament that non-performing loans rose 66 percent in the first 10 months this year, though he did not say whether that increase was from the same period of 2011 or from another timeframe. In televised remarks, Binh said that non-performing loans increased 64 percent in 2011 and 41 percent in 2010. Vietnam has one of the highest levels of non…