Business

The State Bank of Vietnam has decided to lower interest rates in the banking system by 1%, effective from December 24.

Smart phone shipments to Vietnam reached an all-time high in third quarter of this year, with local vendors grabbing a significant amount of market share.

It is a bit like selling ice to Eskimos, but that is exactly what flower farmers in the Mekong Delta are managing to do – selling flowers to Da Lat, the country's most important flower-growing place.

December consumer price index increased slightly in Hanoi and Ho Chi Minh City.

Investors are abandoning projects in Quang Nam due to concerns over rising building costs and safety in the area, the hub of earthquakes that have plagued the province for over a year.

The State Audit of Vietnam has announced its auditing plan for 2013 which will cover major banks and groups.

ATM cardholders will be charged fee for on-us transactions following a new decree by the State Bank.

Japanese insurer Sumitomo Life has purchased HSBC Insurance’s 18 percent stake in BaoViet Holdings to become the new strategic investor of the largest insurance company in Vietnam.

The price of electricity will increase by five per cent to VND1,437 excluding VAT for one kWh from December 22, following a circular issued by the Ministry of Industry and Trade.

Amid economic difficulties and securities market slump, many owners of securities firms have been trying to sell their companies.

The commercial banking system expects to see credit grow by 6 percent this year, said Saigon Economic Times in its recent report.

Vietnam Post has now officially separated from the Vietnam Post and Telecommunication company to be run by the Ministry of Information and Communication.

Complex rules and procedures have been preventing locally grown products from getting their place on supermarket shelves.

Vietnam’s business environment is still good for investors to consider long-term investment projects despite the current economic hardships, an expert said.

The ailing mobile network, S-Fone, is having more difficulties, with huge debts to employees and other companies.

Samsung has overtaken Nokia as the top mobile phone brand for 2012, a research firm said Tuesday.

China said it faces a bleak foreign trade environment in 2013 due to ongoing global economic weakness.

Deputy Prime Minister Hoang Trung Hai has asked banks to provide capital for Electricity of Vietnam to develop urgent power supplies and the grid over the next two years.

Although the world petrol prices have decreased, domestic companies are reluctant to make decreases.