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| NEWS - EVENTS |
Dollar values increase, car dealers threaten to bump up prices
- 04/03/2010
The sharp increase in the value of the dollar has prompted car dealers to seriously consider price hikes.
On March 2, the dong/dollar ratio announced by the State Bank of Vietnam was 18,554 dong per dollar. At Vietcombank, the biggest foreign currency trader, the purchase and sale price were 19,050 and 19,100 dong per dollar respectively.
As such, the Vietnam dong has lost 1,500 dong per dollar in value since November 25, 2009.
In late November 2009, car manufacturers and distributors had to...
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Government okays 47 percent coal price hike
- 04/03/2010
The Government has agreed to the Vietnam Coal and Mineral Industries (Vinacomin) request to raise coal price by 47 percent, commencing March 1, 2010.
Major players in coal import discussions
Nguyen Van Hai, Deputy General Director of Vinacomin, confirmed the price increase on March 3.
Hai said that Vinacomin and Electricity of Vietnam (EVN) agreed after a February 17 working session. The new coal price will be applied to power producers under EVN.
There are four kinds of coal to increase in price, including...
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Banks repay bailout funds
- 04/03/2010
Commercial banks have repaid VND34 trillion (US$1.78 billion) in bailout funds injected into the system by the State Bank of Viet Nam late last year and now had usable capital on hand of around VND30 trillion ($1.58 billion), State Bank Governor Nguyen Van Giau announced on the Government website yesterday, March 3.
Commercial banks ‘playing fair’
Commercial banks rushing to set up finance companies
Commercial bank ownership and survival
Small businesses in need of bailout
The central bank had been required to pump funds into...
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Loan costs reach sixteen percent; businesses threaten not to borrow
- 03/03/2010
The State Bank of Vietnam’s decision to allow commercial banks to negotiate interest rates for loans to businesses, announced on 26 February, has sparked new worry that the lending interest rate will rise to levels that businesses cannot afford.
Negotiation-based interest rates to be applied to medium and long term loans
Previously, the permissable rate for such loans had been capped at twelve percent.
Vo Dai Chau, Advisor to the Management Board of Trust Bank, told Tuoi Tre newspaper that banks themselves must...
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Upscale store rents trend higher
- 03/03/2010
Retail demand is holding up in the upscale clothing and accessories sector, allowing landlords to raise rents by up to 30 percent.
Nguyen, a handbag retailer with twenty outlets in HCM City, complained to Saigon Tiep Thi that some landlords are demanding higher rents. The monthly rent for his shop on Nguyen Trai street (District 1), for example, is going up by $200. The rent’s rising by $100 for his shop on Le Van Sy 100 dollar and he will have...
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