Business

Ministry establishes Port Authority

The Ministry of Transport will initiate a project to establish a Port Authority in Vietnam in an effort to put seaport development plans back on track and boost the logistics sector.

Japan merger forms world's 2nd largest steel firm

Two of Japan's biggest steelmakers will formally merge on Monday, creating the world's second largest firm in the sector.

Hanoi admits failure in upgrading traditional markets

Hanoi Party Committee Secretary Pham Quang Nghi has ordered a reassessment on upgrading traditional markets into commercial centres.

Nine-month industrial output rises 4.8 percent

The nation's Index of Industrial Production increased 4.8 percent in the first three quarters of this year, compared to the same period last year.

Forum discusses the problems facing Vietnam’s economy

Vietnam’s economy saw some goods signs in the beginning of year. However, a number of problems have grown.

Banks flout state bank interest rate cap

Some small banks have raised their short-term deposit interest rate to 12.5%-13.5% per year, despite the State Bank's ban.

S&P lifts outlook for nation's banks

Operating conditions are improving for the Vietnamese banking system, according to the Standard & Poor's Ratings Services on Wednesday.

Electricity producers face record high coal price hike

Vinacomin has raised various coal prices to a record high of 28% to nearly 40% depending on the quality for local electricity procurers.

S&P lifts outlook for nation's banks

Operating conditions are improving for the Vietnamese banking system, according to the Standard & Poor's Ratings Services.

September sees US$1 billion in FDI

September's FDI reached over US$1 billion, bringing the total nine-month FDI in Vietnam to US$9.52 billion.

Trade ministry refuses to list fuels as consumer goods

The Ministry of Industry and Trade disagrees with the Ministry of Finance on listing imported fuels as consumer goods.

Honda recalls 152,000 motorbikes

Honda Vietnam is recalling 152,053 Wave 110 RSX motorbikes due to improperly assembled taillight systems.

Rice output to hit 43 mln tonnes in 2012

Vietnam’s rice output is expected to surpass 43 million tonnes in 2012, an increase of 1 million tonnes or 2.6 percent over the previous year.

Telephone exports earn nearly $8 billion

Telephones and spare parts ranked second among Vietnam’s top ten export earners in the first eight months of this year.

Senior ACB officials charged with major fraud

The police have filed charges against former chairman of ACB Tran Xuan Gia and three other former bank officials.

US lifting import ban on Myanmar goods

The United States is to ease a ban on imports from Myanmar, Secretary of State Hillary Clinton told Myanmar leader Thein Sein, lifting the last major trade sanction on the country.

PM calls for efforts to curb further inflation

The PM has requested relevant agencies to take quick measures to control inflation as the country's CPI has been rising sharply.

FPT's CEO resigns suddenly

FPT's CEO, Truong Dinh Anh, suddenly resigned, and will be replaced by the chairman of the company, Truong Gia Binh.

Tourism bright spot in global economy: UN body

Global tourism has adapted well to the economic crisis, with international arrivals expected to rise by nearly four percent this year, the head of the UN World Tourism Organisation said.