November 9, 2011
Gold bar producers are required to have a minimum market share of 25 percent under a new draft decree Economists warned that a plan to reduce the number of gold producers can lead to a supply shortage and the emergence of a black market, news website VnExpress reported Monday. The warnings came after the central [...]
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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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August 20, 2011
German insurer Talanx AG agreed to buy a 25 percent stake in PVI Holdings, Vietnam’s second-largest listed insurer, for VND1.9 trillion (US$92 million), continuing a trend of overseas companies seeking a foothold in the country. Talanx subsidiary HDI-Gerling Industrie Versicherung AG will hold the stake, Talanx said in a press release on Wednesday. The [...]
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August 13, 2011
NTT Docomo has made its first investment into Vietnam Japanese telecom giant NTT Docomo has announced an investment of 1.4 billion yen (US$18.2 million) into Vietnam’s largest mobile content provider VMG. The investment, NTT Docomo’s first foray into Vietnam, allows the company to acquire an approximately 25 percent stake in the Vietnamese firm. “With its [...]
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July 15, 2011
As inflation slows and liquidity improves, the high dong deposit rates offered by commercial banks could fall slightly in the coming months, Nguyen Thi Mui, a member of the National Advisory Council for Financial and Monetary Policies, tells Thanh Nien Weekly. Thanh Nien Weekly: Firms say that interest rates are too high now at [...]
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July 9, 2011
Rice exports from Vietnam, the world’s second-largest shipper after Thailand, will rise to a record seven million tons this year as higher prices set by Thailand’s new government are pushing buyers toward Vietnam, officials say. Thailand’s Puea Thai (For Thais) Party, which won a landslide election victory on July 3, campaigned on a promise [...]
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June 1, 2011
Economist argues that Vietnam should pursue a slow, holistic approach to solving its economic woes A branch of SeABank in Ho Chi Minh City now offers 14 percent per year on dong deposits. A university professor said a “war” between banks directly led to high interest rates. Interest rates on dong deposits at some [...]
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January 29, 2011
Vietcombank , Vietnam’s second-largest partly private lender by assets, said gross profit rose 8 percent last year to more than VND5.4 trillion, beating its projection. Total assets rose 20.3 percent to VND306.86 trillion, and loans jumped 24.9 percent to more than VND175 trillion, Chief Executive Nguyen Phuoc Thanh wrote in a report published on [...]
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January 1, 2011
A staff member hands stacks of cash to a client at a bank in Ho Chi Minh City. High interest rates have become roadblocks in public access to loans. Ho Anh Thu, an IT engineer in Hanoi, lives in a cramped flat with five other family members on Kim Giang Street. For several months, she [...]
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December 8, 2010
Vietnam will focus on fighting inflation in 2011 as the prices of some goods in the country aren’t yet under control and growth has created risks to macroeconomic stability, the government said. Inflation accelerated to 11.09 percent in November, the fastest pace since March 2009. Economic growth for 2010 may reach 6.7 percent and [...]
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