Central bank hikes key interest rates HA NOI — The State Bank of Viet Nam yesterday raised two key interest rates to 13 per cent per year in an attempt to fight the rise in the consumer price index recently fuelled by the petrol and oil price hike. The refinance interest rate has been increased for the third time this year to 13 per cent from 12 per cent. The rate was raised from... 

Number of foreign visitors rises in first quarter Foreign visitors on an ecological tour to southern Tien Giang Province. Foreign holidaymakers visiting Viet Nam in the first quarter of this year increased nearly 12 per cent compared with the same period last year to almost 1.5 million. — VNA/VNS Photo Minh Tri HA NOI — Nearly 1.5 million foreigners visited Viet Nam in the first... 

Giant insurer plans 15% growth HA NOI — HCM City-listed insurer Bao Viet Holdings (BVH) plans to earn a turnover of VND14.8 trillion (US$704.8 million) this year, a year-on-year increase of 15 per cent. The holding company is targeting a pre-tax profit of VND1.4 trillion ($66.7 million) and an expected dividend payment of 12 per cent. The company’s general director Nguyen Thi... 

Deal to hike transmission efficiency signed HA NOI — GE Energy Services has signed an agreement with National Power Transmission Corporation (NPT) under which the two companies will work together to increase Viet Nam’s power transmission efficiency and expertise and reduce the risk of power shortages. Viet Nam experienced a shortfall of energy last year, and the government expects that demand... 

Agricultural imports still too high Customers shop for fruit in Tran Giat in the central province of Thanh Hoa. — VNA/VNS Photo Dinh Hue HA NOI — An estimated US$3.3 billion was spent on imports for the agricultural and forestry industry in the first quarter of this year, a year-on-year decrease of 5.9 per cent, said the Ministry of Agriculture and Rural Development. Although value... 

Sacombank secures global credit facility HCM CITY — A consortium of international financial institutions led by the Netherlands Development Finance Co (FMO) has agreed to provide a credit line of US$150 million to HCM City-headquartered Sacombank. The bank signed on Wednesday a memorandum of understanding for the financial assistance with FMO and other lending institutions from Norway, France, Belgium... 

Slow tax payments create headaches People queue to pay their taxes at the State Treasury in Ha Noi’s Hoan Kiem District. Delayed tax payments have been causing problems for years in the country. — VNS/VNS Photo Pham Hau HA NOI — Delayed tax filing by businesses has put pressure on both tax agencies and the enterprises themselves. Last – minute payments have been an ongoing problem for... 

Shares decline on slow trading <![CDATA[ ]]> HA NOI – Both stock indices lost over 0.4 per cent this morning as about 46 per cent of codes posted losses on the two national stock exchanges. On the HCM City Stock Exchange, the VN-Index retreated 0.43 per cent to close at 459.17 points. The trading value declined more than 9 per cent over yesterday to more than VND490.8 billion... 

Retail sales see slower growth in first quarter HA NOI — Retail sales value of goods and services was estimated at VND451.8 trillion (US$21.5 billion) in the first quarter of the year, an increase of 22.6 per cent in comparison with the same period last year, the General Statistics Office has announced. Adjusted for inflation, the value rose by 8.7 per cent. The figures were lower than those of the... 

SBV to order SOEs to sell dollar reserves A labourer works on a coal production line at Cua Ong Coal Co – a subsidiary of Vinacomin Group. Vinacomin is one of the major State-owned economic groups which may be ordered to sell US dollars to the commmercial banking system next week. — VNA/VNS Photo Manh Tu HA NOI — The State Bank of Viet Nam has announced its plan to order...