Great things about Lower price On Line - The best places to Buy Marked down Gift Card

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Brief Vietnam Business news on 6/13

Blue chip rise lifts shares on both exchanges

HANOI - Shares rose on the two national stocks exchanges this morning, but market volume and value continued to be sluggish.On the HCM City Stock Exchange, the benchmark VN-Index gained 1.72 per cent to close the first half session this morning at 432.59 points on a turnover of nearly VND642 billion (US$30.6 million).Blue chips climbed, helping lift other shares. Advancers outnumbered decliners by 179-36.Up to 80 per cent of the top 30 shares by market value and liquidity rallied, seven of which hit the

MobiFone, Vinaphone to merge

VinaPhone staff make mobilephone registration for customers in Ha Noi. Giant mobile operators Vinaphone and MobiFone are to merge under Government restructuring plans. — VNA/VNS Photo Tran Thanh Giang HA NOI — Viet Nam mobile giants MobiFone and Vinaphone will merge as scheduled as part of the Government's restructuring plan for State-owned enterprises, the Ministry of Information and Communications said.The statement, which ended the long

State enterprises unable, unwilling to restructure

HA NOI — State-owned enterprises are finding it difficult to provide restructuring plans as required by the Government because their auxiliary businesses are often more profitable than core operations and business officials may be loathe to reveal areas of mismanagement.These were among comments made by SOE representatives at a recent workshop in Ha Noi.The Government asked State-owned economic groups and corporations to submit their reorganising schemes by the end of the first quarter but only seven of

Bank shareholders repeat violations

HA NOI — Two major shareholders of Sacombank (STB), the fourth leading listed commercial lender, have continued to sell shares without making mandatory disclosures only five days after they were slapped with penalties by the State Securities Commission for the similar violations.The HCM City Stock Exchange on Tuesday announced that Sai Gon-Asia Financial Investment Joint Stock Co and individual shareholder Tran Phat Minh had each sold about 900,000 STB shares without making disclosures as regulated.The

Viet Nam loses allure with global retailers

Customers buy goods at Satra Pham Hung supermarket in HCM City. Viet Nam falls out of the top 30 attractive retail markets worldwide. — VNA/VNS Photo Thanh Vu HA NOI — Viet Nam is less attractive to global retailers, failing to make the list of top 30 developing countries for retail investment in the 2012 Global Retail Development Index published by US-based consulting firm A.T. Kearney on Tuesday.The slide down index was bad news for the

Work to start on Ha Noi's rapid-transit bus system

HA NOI — Construction of the first two rapid-transit bus routes will begin in Ha Noi next month to improve transport infrastructure and reduce traffic congestion.The US$115 million project is being undertaken by the city's Transport Department with a loan from the World Bank.The first route over 17km will start at Ba Dinh District's Giang Vo Street and end at Ha Dong District's Yen Nghia Bus Station.The 11km second route will start at Thanh Tri District's Van Dien Township and end at Hoan Kiem District's

Shares fall on weak demand

HA NOI - Shares continued to lose ground during this morning's session on weak demand. Declining nearly 0.3 per cent, the VN-Index on the HCM City Stock Exchange reached 426.53 points. Losers outnumbered gainers by 104-75.The value of trades fell to VND442.7 billion (US$21 million), as trading volume totalled only 27 million shares.Of the 30 leading stocks tracked by the VN30, 13 codes tumbled, including market heavyweight Vietcombank (VCB). Meanwhile, nine others succeeded in advancing.The VN30 retreated

Quang Ninh to revoke 38 sluggish projects

QUANG NINH – The northern province of Quang Ninh has revoked the licences of 38 projects in Ha Long City due to slow progress in work, according to the provincial People's Committee Chairman Nguyen Van Doc.The move comes after checks on 152 project in the city by provincial authorities in a bid to tighten project management and improve efficiency of land use.The investigation revealed that most projects visited by provincial inspectors were found to have been implemented slower than scheduled, and many of

Low-grade rice exports likely to fall this year

Bags of rice being loaded for export at Dong Thap Food Co. Viet Nam's rice exports are predicted to drop this year. — VNA/VNS Photo Dinh Hue HCM CITY — Viet Nam's rice exports may drop by 1 million tonnes compared to last year if the world rice market continues to face difficulties, according to forecasts from the Ministry of Agriculture and Rural Development.The country's rice exports may fall to 6.2 million tonnes from the 7.2 million tonnes

Interest cap prompts rate war

An employee at Maritime Bank checks cash. After the deposit rate was capped, banks claimed it became difficult to retain depositors. — VNA/VNS Photo Tran Viet HCM CITY — Following the sharp cut in the deposit interest rate ceiling to 9 per cent, a fierce battle has broke out between banks to retain deposits, with many illegally offering higher rates.The State Bank of Viet Nam reduced the cap from 11 per cent with effect from June 11 in an

Source: Vietnam Business - VietNam Today