Business

The deputy governor of the State Bank of Vietnam attended a media conference to respond to questions regarding which gold bar brand name will be chosen as a state brand.

The Deputy Minister of Construction said that inventory in the domestic cement sector remains at a safe level.

The General Department of Customs has been informed that Petrolimex might be trying to avoid USD3.1 million in new taxes.

The Government will continue to place top priority for the remainder of this year on keeping inflation in check and stabilising the macro-economy, said PM Nguyen Tan Dung.

Although the power price increase is within the law, EVN did not necessarily do a good job of explaining it to the public.

Lower purchase power has created more pressures to enterprises which are facing high inventories and debts.

Vietnam has ordered the cessation of licensing for foreign container ships, in an effort protect the domestic shipping industry.

Barclays chief executive resigned with immediate effect over a rate rigging scandal at the British banking giant, the company said in a shock announcement.

The MIC is considering restructuring the cable TV market. It is expected that only three national enterprises and five local enterprises would be retained instead of 40 currently.

The retail price of gasoline and other petroleum products were cut by VND200-600 per litre beginning at 19:00, July 2.

State-owned enterprises have incurred a total debt of USD47.6 billion compared to their combined equity of USD37.6 billion.

Land is being let go to waste due to inefficient use and slow project implementation.

Supermarkets saw a sharp decline in the sale of non-food products in the first six months as customers focused on daily necessities.

Microsoft said it would take a $6.2 billion writedown to reflect the slump in value of its online services division.

The eurozone debt crisis delivered more bad news with data showing record high unemployment of 11.1% and a manufacturing outlook at its lowest levels for three years.

Despite a decrease of 0.6 percent in June, the retail sales value of goods and services in the first half of the year surged 6.5 percent against the same period last year, said the General Statistics Office.

Visitors from overseas can now have the sum of the value added tax that they have paid on goods purchased in Vietnam refunded.

The latest increase in electricity prices from July 1 is putting additional burden on small businesses.

In 2011 banks lent out a total of USD124 billion to businesses, 10% of them now being considered bad debts, half of which are considered insolvent.