January 20, 2012
The Tet flower road will return to Vietnam’s Ho Chi Minh City this Friday, highlighted by a giant dragon blowing blooms, as the city starts celebrating the Year of Dragon. With the Lunar New Year starting Monday next week, work to transform Nguyen Hue Street into a street of flowers began on January 10. The 12 meter long, [...]
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January 15, 2012
Ho Chi Minh City as seen from the rooftop of a downtown building. Property prices are expected to fall in the next six months. Developers are still pessimistic about market conditions but some experts believe investors should not rule out real estate just yet. Economist Dinh The Hien said the government is expected to [...]
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January 3, 2012
A street vendor walks past a Chanel SA store inside the Rex Hotel in downtown Ho Chi Minh City, Vietnam, on Tuesday, Dec. 27, 2011. Vietnam’s growth held near 6 percent this quarter, reducing the pressure for further monetary tightening after higher interest rates limited the boost to the economy from exports and domestic consumption. [...]
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December 5, 2011
Slowing inflation and talk of financial reforms have not boosted market sentiment as expected, and analysts are predicting the worst will not be over any time soon. Phan Dung Khanh, research manager at Kim Eng Vietnam Securities Co., said the stock market may move sideways or only recover slightly next year. Macroeconomic measures taken [...]
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December 2, 2011
BIDV's shares will be listed on the Ho Chi Minh Stock Exchange next year. Bank for Investment and Development of Vietnam, the country’s third-largest lender, plans to sell a 3 percent stake in an initial public offering this month as the government revives state asset sales amid slumping stock prices. BIDV will hold the IPO, [...]
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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 18, 2011
The dollar demand for imports and debt payments usually grows this time of the year. Prime Minister Nguyen Tan Dung Wednesday ordered the central bank to take strong measures to keep the exchange rate and gold prices stable. The State Bank of Vietnam needs to work with other ministries and provincial authorities to strengthen inspections [...]
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October 25, 2011
Vietnamese inflation slowed for a second month, an easing that may reduce pressure on the central bank to further increase interest rates. Consumer prices rose 21.59 percent in October from a year earlier, according to data released by the General Statistics Office in Hanoi Monday. The inflation rate fell to 22.42 percent last month [...]
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October 16, 2011
The central bank aims to keep the exchange rate stable until the end of the year. Vietnam’s central bank said it had sold a “reasonable” amount of dollars to stabilize the local market in the third quarter after a gold frenzy fueled dollar hoarding. The “timely” response helped ease the pressure on the exchange rate, [...]
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September 15, 2011
EU commissioner for Economic and Monetary Affairs Olli Rehn has said eurozone economy was set to come to a “virtual standstill” in the second half of the year, but he assured that Europe would avoid another recession. The eurozone’s runaway debt crisis is dragging down growth, the EU warned on Thursday as finance ministers headed [...]
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