Business

The State Bank of Vietnam has yet to issue any directive on recalling the VND coins, deputy director of the SBV’s branch in Ho Chi Minh City has confirmed.

While the Central Bank claimed the country’s ratio of bad debts increased to 3.6% by the middle of April, other studies claim the figure could be three to four times higher.

Vietnam is still a potential market despite the fact that the underdevelopment of its support industry remains one of the barriers to foreign investors.

As more and more people go to supermarkets, the traditional markets have to modernise in order to stay competitive.

Several NA deputies came out against the Government’s economic restructuring plan, calling the content vague and cursory.

The IFC granted a credit package worth US$25 million to Orient Commercial Joint Stock Bank to increase capital accessibility for small-and-medium-sized enterprises.

Despite a ban on unregistered pre-paid SIM card trading from June 1, many traders have continued to stock the cards to sell them at higher prices.

CEO of one of the biggest banks in Vietnam received VND80 million a month, while CEO who managed a smaller bank, got VND 200 million.

Hewlett-Packard said it plans to cut 27,000 jobs, or eight percent of its global workforce, by 2014 in a major restructuring effort for the computer giant.

France and Germany crossed swords over how to spur growth in the debt-stricken eurozone at the EU summit.

Quang Ninh decided to halt two real estate projects by PetroVietnam for the slow pace of construction.

Retail prices of petrol and oil in Vietnam were down by VND300 – 600 a liter, according to the Ministry of Finance’s circular No 216.

Vietnam is expected to gain an economic growth rate of 5.7% and inflation rate to decline below 10% in 2012, the World Bank says in its latest report.

China's economic growth will continue to ease, presenting Beijing policy makers with the challenge of preventing an abrupt slowdown, the World Bank said.

Poorly constructed apartment buildings in Hanoi and HCM City have become a danger to tenants.

One of the most effective channels for laundering money in Vietnam is through the real estate and securities markets, one official said.

Europe came under mounting pressure to take action to boost growth as the OECD warned that the eurozone crisis has worsened.

The government may continue to regulate power prices instead of handing over the entire decision to the state-owned EVN.

Rises in petrol prices and minimum wage have been the main reasons for the increase in CPI in May, economic experts said.