Business

Europe unveils banking union plan to tackle crisis

Europe moved a step closer to a banking union with a plan for the European Central Bank to supervise all euro zone banks, a cornerstone of closer fiscal integration designed to end years of financial turmoil in the region.

Government investigates petrol hoarding

The authorities is looking into claims that petrol stations have been hoarding gasoline after hearing rumors about a price increase.

Dutch vote could affect how EU tackles debt crisis

Dutch voters could change their country's course in tackling the debt crisis when they elect a new parliament in a test of whether European voters have the stomach to continue with stringent austerity measures.

Credit growth likely to remain stagnant

Commercial banks will be hard-pressed to meet the 8-percent credit growth target in the second half of the year, said a National Advisory Council for Financial and Monetary member.

Zuckerberg ready to 'double down' on Facebook

Mark Zuckerberg hasn't enjoyed seeing Facebook's stock get pummeled on Wall Street, but he is relishing the opportunity to prove his critics wrong.

Tax cut to help hold line on petrol prices

The two ministries of Finance, and of Industry and Trade has decided to reduce the import tax rate for petrol and oil instead of increasing petrol and oil retail prices.

Oil prices rise ahead of Fed, Germany action

Crude oil prices rose as investors awaited US Federal Reserve policy meeting and a German court ruling on a eurozone rescue fund.

Rules tightened on re-exporting

Temporary-import goods can now only be kept in Vietnam for 45 days before they must be re-exported. One 15-day extension is allowed.

New iPhone could boost U.S. GDP by up to 0.5%, JP Morgan says

The next generation iPhone 5, which Apple Inc. plans to release this week, could not only boost the tech giant's bottom line - but could give a significant boost to the overall U.S. economy.

Garment exports reach 10.8 billion USD

The country's textile and garment sector achieved a trade surplus of 5.3 billion USD in the first eight months of 2012, a year-on-year increase of 24 percent.

German judges may hold Europe's fate in their hands

The supreme court panel is expected to deliver its ruling on whether German participation in a permanent bailout fund is constitutional.

Moon cake shops face slow sales

Many moon cake shops in HCM City which have opened for more than two weeks, have had a hard time with sales.

Petroleum prices may see record highs

A number of petroleum wholesalers proposed a price hike of VND1,300 per litre of perol to the Ministry of Finance.

Vietnam and Tariff Alliance to launch FTA negotiations

Vietnamese and Russian officials signed the Proceedings on the impact of the Free Trade Agreement between Vietnam and the Tariff Alliance.

Speculators pounce on rice market as prices rise

Speculators have been selling rice to Thailand via Cambodia for over a month despite domestic prices rising VND1,000 per kilogramme.

Greek gov't fails to agree on spending cuts

The leaders of the three parties in Greece's coalition government failed to agree on a package of spending cuts worth €11.5 billion ($14.7 billion).

Electricity giant granted VND22.5 trillion in loans

The Electricity Group of Vietnam is completing procedures to access an additional loan of VND22.5 trillion to carry out its projects.

Vietnam is not seeking IMF’s loans for bad bank debt: State bank

Vietnam is not seeking loans from the International Monetary Fund to deal with bad debt, said the State Bank.

Vietnam cautious as China increases rice imports

China has become the largest importer of Vietnamese rice this year to date with a record turnover, but local exporters remain cautious against the market, especially in regards to payment.