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| NEWS - EVENTS |
Boosting the rice reserves
- 03/03/2010
Prime Minister Nguyen Tan Dung has instructed the Ministry of Finance to buy 50,000 tonnes of rice to supplement this year\'s national food reserves.
A total of VND30 billion (US$1.59 million) will be drawn from the State budget for 2009 and VND420 billion ($20.1) for 2008 for the purchase.
The money will be drawn from increased budget revenue during 2008. The Prime Minister has also approved the spending of VND35.2 billion ($1.85) for the maintenance and repair of grain storage facilities.
The decisions...
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Vinafood 1 wins new bid to sell rice to Iraq
- 02/03/2010
The Northern Food Corporation (Vinafood 1) has won a bid to sell 90,000 tonnes of 5 per cent broken rice to Iraq, according to a statement made by the company yesterday, March 1.
The new bid brings the total amount of rice to be exported by Vinafood 1 to Iraq between March and May to 150,000 tonnes.
In October 2009, Vinafood 1 and the Viet Nam-Iraq joint-venture specialising in rice processing and exports won another bid to export 60,000 tonnes of high-quality...
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Silver Lotus winner impresses audiences
- 02/03/2010
Based on a contemporary short story, an award-winning Vietnamese film about the tragic life of a selfless wife has captured the imaginations of local and international film fans.
Viewers of The Moon at the Bottom of the Well, a film that won a Silver Lotus award last month at the 16th Viet Nam Film Festival, were reminded of how elusive happiness can be as they watched the emotional disintegration of the movie’s main character, the selfless wife Hanh.
Following a world tour...
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State Bank removes lending cap
- 01/03/2010
The State Bank of Viet Nam has removed the interest-rate cap on medium- to long-term loans, a move expected to end a two-year struggle by banks to maintain liquidity.
It is also expected to bring an end to unlawful lending practices that had banks charging above the interest-rate cap to improve their profit margins.
"Interest rates will increase but the increase will be controlled," said National Monetary Policy Advisory Council member Cao Sy Kiem. "Supply and demand for capital will meet...
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Banks signal end of deposit-rate war
- 28/02/2010
Commercial banks have begun easing off one of the highest deposit interest rates they offer, trimming rates from the regulated maximum of 10.49 per cent per year.
"Banks are now tending to offer more reasonble interest on medium- and long-term deposits to reduce the pressure it puts on lending interest rates as well as to test market response," said Asia Commercial Bank deputy director Nguyen Thanh Toai.
Yesterday, February 26, Asia Commercial bank reduced its highest rate to 10.37 per cent and...
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