January 20, 2012
Many banks in Vietnam fear that bad debts could rise this year. Many banks in Vietnam say dealing with bad debts rather than credit growth is going to be a priority task for 2012. According to the Dau Tu (Investment) newspaper, even large banks in the country fear that bad debts could rise this year. State-owned Bank [...]
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January 14, 2012
Vietnam signaled that it may cut policy interest rates to “more suitable” levels after the first quarter and weaken the dong this year as Asia’s fastest inflation eases. “The central bank will adjust policy rates to more suitable levels, aiming to help ease the average level of market interest rates,” central bank Governor Nguyen [...]
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January 11, 2012
Vietnam will adjust policy interest rates to “more suitable” levels after the first quarter and weaken the dong as much as 3 percent this year, central bank Governor Nguyen Van Binh said. “We believe that 2012 will be a hard year, a challenging year for Vietnam’s economy,” Binh said at a conference in Hanoi [...]
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December 22, 2011
Saigon Thuong Tin Commercial Joint- Stock Bank may sell as much as a 15 percent stake to Credit Suisse Group AG, the Vietnamese lender’s Chief Executive Officer said. The bank’s stock rose to the highest level in almost a month in Ho Chi Minh City. Sacombank, as the lender is known, will start negotiations [...]
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December 14, 2011
Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with the fastest inflation in [...]
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November 26, 2011
An employee at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, counts dong bank notes in Hanoi. Vietnam’s central bank unveiled plans to create a three-tiered financial industry dominated by 15 lenders as part of efforts to allay concerns over the nation’s banking system. The country aims to have 15 “big” banks by [...]
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November 5, 2011
Ocean Group Joint-Stock Co., a Vietnamese real-estate and financial company, reduced its 2011 pretax profit target by 54 percent as a slump in the property market hurt its business. The Hanoi-based company lowered pretax profit target this year to VND380 billion (US$18 million) from its earlier forecast of VND825 billion, Chairman Ha Van Tham [...]
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November 4, 2011
Vietnam’s bonds on Thursday rose the most since August on speculation banks will seek the safety of government securities as rising interest rates boost the risk of bad loans. The dong was little changed. Non-performing debt may more than double to 5 percent of total bank credit in the country by year-end from 2.16 [...]
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October 19, 2011
Workers sort through green robusta coffee beans for defects at a processing plant in Ho Chi Minh City. Commodity exchange NYSE Liffe has launched a scheme to grade robusta coffee supplies in Vietnam. Coffee exporters in Vietnam, set to ship a record harvest, are being urged not to sign so-called forward contracts unless they have [...]
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October 15, 2011
Unprecedented move against Chinese contractor not easy, but ‘wise’, local firm says Vietnam’s state-owned Construction Corporation No.1 has decided to end its contract with a Chinese supplier due to poor performance at a major hydropower project in the Central Highlands. Beijing IWHR Corporation was terminated from the contract to supply and install the main [...]
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