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Vietnam Financial News

Increasing interest rates - the signs of a new difficult period?

The interest rates now are described as "exorbitant" and they were only as high once before, in 2008. Many businessmen have warned that the production will become stagnant soon, because enterprises will halt their production. This may be their only choice, because the more they produce, the bigger losses they

Gold and dollar prices escalating, no one benefits

The Japanese yen has also appreciated against the dong. At 8:20 am, the yen price was quoted at 246.63 - 253.99 dong per yen, an increase of three dong per yen in comparison with the weeks opening price. The euro is now trading at 28,101.00 dong per euro.

DongA Bank to launch gold bar-vending machines

They will be installed at the banks ATMs at its headquarters in HCMCs Phu Nhuan District and branch in Dong Da District, Hanoi. The machines will dispense a 3.75-gram Phuong Hoang PNJ DongA Bank gold bar at real-time prices quoted by the Phu Nhuan Jewelry Company.

Vietnam banks thirsty for US dollars

To accumulate US dollars as expected, many commercial banks are rushing to raise interest rates to the "ceiling" to mobilise US dollars. This fact has made the difference between the US dollar and dong interest rates become more ominous.

Central bank may review call deposits for lending in Circular 13

The government Office has lately sent Official Letter No 5801/VPCP - TH stating the instructions from Vietnams prime minister asking the central bank reviewing Circular 13/2010/TT-NHNN issued recently by this agency.

LienVietBank Cut Mortgage Interest Rate to 10.7pct

LienVietBank has cut its lending interest rates and discount rates to 10.7 percent per annum (p.a) for less than one-month loans secured by valuable papers issued by LienViet Bank and others credit institutions approved by Lien VietBank, the lowest rates in the market, said the lender.

Pundits foresee more weakness for the dong

The Wall Street Journal noted that since November 2009 the central bank of Vietnam has devalued the dong by 10 percent but the trade deficit had not been reduced. The Journal reported that in July, the nation imported $980 million more in goods than it exported, up from a $742

CPI of HCM City fall 0.25 percent in August 2010

The August consumer price index (CPI) in HCM City has fallen 0.25 per cent since July. This was the second fall in two months, Du Quang Nam, head of HCM Citys Statistics Office said yesterday, August 18. Prices dropped by 0.13 per cent for catering and associated services, by 4.71


Posted in: Vietnam CPI , 2010 Vietnam CPI

Vietnam companies worry about high interest rate of lending capital

According to the State Bank of Vietnam (SBV), lending interest rates have dropped to 12-13.5 percent per annum for short-term loans and 13-14.5 percent for medium and long-term loans. Firms complain, however, that attractive interest rates are applied only to agricultural areas, or for export companies and loyal clients. In


Posted in: Vietnam bank interest rate , Maritime Bank , An Binh Bank

Morgan Stanley Launches UCITS III Fund

UCITS III Fund will be managed by P Schoenfeld Asset Management (PSAM). Set up in 2006 as a multi asset platform, FundLogic is the brand name for Morgan Stanleys structured fund platform, which is said to offer both UCITS III and non-UCITS funds on a global basis.

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Vietnam profit growth nearly 70 percents

The earning per share (EPS) of the market is estimated to rise 58.4% this year, higher than 53% in 2007 and -39.8% in 2008. The P/E ratio will stand at

An upmarket office tower to take shape in Hanoi

The Housing and Urban Developmennt Corporation (HUD) on March 21 began construction of a high-class Office Block (HUD Tower) in Thanh Xuan district, Hanoi with a total investment capital of

Gold association wants import restrictions lifted

The Vietnam Gold Business Association will request the government to remove restrictions on gold imports so that they are determined by local supply and demand, an official said. Gold should

Vietnam to Receive More Overseas Remittance This Year

Local financial experts and bankers shared a common consensus that Vietnam will receive a higher level of overseas remittance this year than the last year. Financial experts and bankers all

Optimism and caution at Vietnam investment summit

The Vietnamese Investment Summit 2010, which ended on Wednesday in Ho Chi Minh City, focused on the countrys economic strengths-providing potential investors and business people with a forum for discussion,

Manpower export: long-term vision a need

ASEAN economies are resuming very strongly, especially in Thailand, Singapore and Malaysia. This is very impressive because six months ago, nobody had that hope. Now it is important to maintain

Low-cost apartments selling slowly

Most of real estate developers now have shifted to developing low-cost apartment projects, because they believe that low-cost apartments will sell better than high-end apartments. Analysts also said that the

Opens the way for the growth of drug production in Vietnam

Domestic and foreign investors for the production of drugs call opens the way for the growth of drug production in Vietnam. The Ministry of Health (MoH) is calling for domestic

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