January 20, 2012
Jetstar Pacific will continue to operate as a low-cost carrier The government’s stake in budget airline Jetstar Pacific, held via the State Capital Investment Corp., will be transferred to national carrier Vietnam Airlines, local media reported Wednesday, citing a directive. Jetstar Pacific, which is partly owned by Australia’s Qantas, will continue to operate as a [...]
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January 15, 2012
The Vietnam Football Federation has only itself to blame for the current controversy raging over TV telecast rights for Super League games. VFF early last year signed a 20-year contract with the telecommunications and media company called the An Vien Group for VND6 billion (US$285,000) per year. The contract has been rejected by the [...]
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January 9, 2012
EVN Telecom posted revenues of nearly VND2.43 trillion last year. The transfer of EVN Telecom, a unit of state utility Electricity of Vietnam, to Viettel has started and will be completed by the end of March, news website VnExpress reported. EVN Telecom posted revenues of nearly VND2.43 trillion (US$115.5 million) in 2011, equal to just 62.7 percent of [...]
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January 9, 2010
Building small refineries such as Dung Quat, which has a capacity of 6.5 million tons, is inefficient, according to PetroVietnam The Dung Quat oil refinery, the countryâs first, has been shut down for a second time due to a broken valve, again delaying its formal handover to the state-owned Vietnam Oil and Gas Group (PetroVietnam). [...]
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December 30, 2009
LookAtVietnam – A giant representation of the Vietnamese traditional ao dai has been created using 1,000 silk and dried flowers. The flower-made ao dai. The ao dai is 10m in length and weighs over 30kg and will be introduced during the Hanoi Flower Festival between December 30 and January 3, 2010. Artisan Nguyen Manh Hung said he [...]
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August 29, 2009
Vietnam’s 5-year bonds post biggest weekly drop in two months; Standard Chartered opens Vietnam-based unit; Staple agriculture exports increase but prices drop UK-based bank Standard Chartered opened its locally-incorporated entity, Standard Chartered Bank Vietnam Limited, according to a statement released by the lender Friday. Standard Chartered Vietnam Limited’s investment in Vietnam is around US$500 million [...]
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August 28, 2009
Vietnam Oil & Gas Group won a contract to operate the Nghi Son port, where a new oil refinery is slated to be built, the state company said in a press release Wednesday. Vietnam Oil & Gas, also known as PetroVietnam, signed an agreement Wednesday with the Thanh Hoa Provincial Peopleâs Committee to take over [...]
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August 12, 2009
Both foreign and Vietnamese retailers complain that retail premise leasing fees in Vietnam, especially in HCM City, are sky high. In 2006, local newspapers reported that the transfer price of one square metre of stall at Ben Thanh Market in HCM City was 230 taels of gold. The level, if converted to dollars, was 30 [...]
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June 26, 2009
A sign for American Life Insurance Co. (Alico) hangs outside the AIG building in Tokyo. American International Group Inc. paved the way for two units to sell stock by agreeing to give preferred shares to the Federal Reserve Bank of New York and reduce its debt to the central bank by US$25 billion. The company [...]
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March 14, 2009
The operation of the transfer pricing and customs valuation rules present challenges for multinational companies in setting transfer prices of goods imported from related parties. Customs continues to tweak its delicate balancing act Multinational companies which import merchandise from related parties face potentially inconsistent applications of transfer pricing and customs valuation rules. For the same [...]
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