Vietnam Financials

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

It’s time to mobilize funds, said Prudential

General manager explains stock market performance and offers advice on improving the economy. The Prudential Viet Nam Fund Management Company (PVFMC) the first international fund management firm licensed in Vietnam, now manages some US$1.4 billion and is seeking to mobilize three additional Vietnamese funds worth around $500 million in total.

Acting general manager of the fund, Pham Ngoc Bich, says temporary fluctuations on the financial market could offer attractive investment opportunities...

Full story: http://www.vnstocknews.com/2008/05/its-time-to-mobilize-funds-prudential.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

During early deals on Monday, the Viet Nam dong fell to a new multi-month low of 1.6178 against the US dollar. The pair closed last week's deals at 1.6160... http://www.vnstocknews.com/2008/05/viet-nam-dong-sets-new-multi-month-low.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Governor of Vietnam Central Bank Meets U.S. Ambassador, IMF Official

Governor of the State Bank of Viet Nam, Nguyen Van Giau on May 14 had meetings with Benedict Binghamd, Resident Representative of IMF and the U.S. Ambassador Micheal Michalack to discuss measures to stabilize Viet Nam’s macroeconomy...

Full story: http://www.vnbusinessnews.com/2008/05/governor-of-vietnam-central-bank-meets.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Viet Nam to rank 2nd garment exporter to US

The US International Trade Committee (ITC) placed Viet Nam among the 30 biggest exporters to the US market in 2007, said the Ministry of Industry and Trade...

Full story: http://www.vnbusinessnews.com/2008/05/viet-nam-to-rank-2nd-garment-exporter.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Vietnam raises interest rates to fight inflation

Vietnam raised interest rates from Monday in a move that aims to tackle double-digit inflation by strengthening the dong, the local currency, putting money into banks and reducing credit growth...

Full story: http://www.vnstocknews.com/2008/05/viet-nam-raises-interest-rates-to-fight.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

The race to increase deposit interest rates has already begun among banks, just one day after the central bank jettisoned the 12% cap...

http://www.vnbusinessnews.com/2008/05/banks-deposit-interest-rates-go-through.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

The Ministry of Finance has permitted Aon Viet Nam, an American-invested insurance broker, to provide services to State-owned enterprises...
http://www.vnbusinessnews.com/2008/05/us-insurance-broker-to-enter-viet-nam.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Oil joint venture gets license to build refinery in Mekong Delta

The Can Tho Oil Refinery Company, a Vietnam-U.S. joint venture, will invest US$538 million in an oil refinery in the Mekong Delta city of Can Tho...
http://www.vnbusinessnews.com/2008/05/oil-joint-venture-gets-license-to-build.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Former Canadian premier Jean Chretien will meet with foreign business representatives at a luncheon on May 22 in Ho Chi Minh City during his three-day visit here, the Canadian Chamber of Commerce (CanCham) said...
http://www.vnbusinessnews.com/2008/05/former-canadian-pm-to-meet-with.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Exporters benefit from stronger dollar

The rising value of the US dollar over the dong this month will help exporters stabilise business performance and production following a recent period in which a devalued dollar and rising input costs had lessened the profitability of exports...

Full story: http://www.vnbusinessnews.com/2008/05/exporters-benefit-from-stronger-dollar.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

VietNam reiterates need for flexible currency

The government has urged the central bank to allow a flexible exchange rate by allowing the dong to move 2% up or down against the dollar, it said in a statement...

Full story: http://www.vnbusinessnews.com/2008/05/viet-nam-reiterates-need-for-flexible.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Shares are selling at any price, and the VN Index dropped dramatically to below 450 points, the deepest low since November 2006. Meanwhile, Minister of Finance Vu Van Ninh still affirms that Viet Nam will not sacrifice the stock market to restrain inflation.

Full story: http://www.vnstocknews.com/2008/05/finance-minister-vn-wont-sacrifice.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Bank interest rates have witnessed a new record high of 16.92% per annum. With the interest rate, banks will struggle to make profit as the maximum lending interest rate is capped at 18% per annum.

Full story: http://www.vnstocknews.com/2008/05/high-interest-rates-may-make-banks.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

The World Bank (WB) always gives positive comments on Viet Nam’s economy in the medium term, WB Acting Country Director in Viet Nam Martin Rama said...
Full story: http://www.vnstocknews.com/2008/06/world-bank-gives-medium-term-tick-to.html

tungsteng · Experienced Poster Joined: 29 Oct 2007 Posts: 73

Greenback speculation on the black market has cooled following the State Bank’s strong messages to the public and large-scale selling to local commercial banks...
Full story: http://www.vnstocknews.com/2008/06/heat-taken-out-of-dollar-trades.html