Business

Olympus eyes $1.2 billion suit, president may resign

Scandal-tainted Olympus Corp is considering suing current and former executives for compensation totaling about 90 billion yen, while its new president is considering resigning, a source familiar with the matter said.

Vietnam strives for trade balance by 2020

Vietnam, in its 2011-2020 strategy, sets a target of achieving a balance of trade in 2020, Minister of Industry and Trade Vu Huy Hoang said.

Emirates launches direct flights to Vietnam

Emirates Airline has launched a daily nonstop service from Dubai to HCM City as the carrier continues to expand its business in Southeast Asia.

IMF sees bigger Greek writedown for banks

The IMF's top economist said banks holding Greek debt could be forced to take larger writedowns than planned.

Travel firms to face higher deposit

Travel agencies providing international tourism services this year may have to pay a deposit twice the current VND250 million (USD11,900), according to a draft decree.

Euro unlikely to 'vanish' this year: IMF chief

The euro is unlikely to "vanish" this year, IMF chief said, but warned a report this month will show the global economy growing slower than the 4.0% estimated in September.

Vietnam’s biggest petrol trader seeks to control prices

The Vietnam National Petroleum Corporation asked the Ministry of Finance for approval to determine its fuel price.

Vietnam invests $10.8 billion overseas

Vietnam committed a total of $10.8 billion of investment in 627 projects in 55 countries and territories around the world by late 2011, the Ministry of Planning and Investment reports.

Big Vietnamese banks seek new manganement for new year

The year of 2011 has seen the biggest human resource change at the top levels of Vietnamese banking sector.

Vietnam forex reserves predicted to top $15.8 billion

Vietnam’s foreign reserves this year will increase to $15.81 billion from the $12.56 billion recorded last year, forecast JPMorgan Chase Bank.

HCM City remains top place in industrial production

Ho Chi Minh City continue to lead the country in industrial production in 2011 with a value of nearly VND740 trillion (USD35.17 billion).

High salaries for several state-owned groups in 2011

PetroVietnam topped the list of average salaries of state-owned corporations, many of which were exorbitant.

US automakers rack up strong 2011 gains

Detroit's Big Three automakers posted solid December US sales, driving a strong 2011 performance.

China finds huge violations in audit on local debt

China said it had uncovered 530.9 billion yuan ($84 billion) in misused funds in an audit of local government debts, as it moves to clean up "problem" financing.

Hanoi to tighten control over resettlement projects

Hanoi received a proposal to allow using housing of stagnant resettlement projects for urgent projects.

Vietnam’s business optimism falls sharply in 2011

Business optimism in Vietnam fell sharply in the year 2011, but remained in positive level, says a report of Grant Thornton.

13 percent growth set for exports

Vietnam must increase the export value by 13 percent and keep the trade deficit at 12 percent in 2012, says Prime Minister Nguyen Tan Dung.

Investors confidence in stock market takes a sharp dip

The Vietnamese stock market is expected to face continued challenges in 2012 due to high inflation and market instabilities.

Air travel safer than ever: industry report

Air travel has never been safer despite the steadily rising number of passengers worldwide, a new report revealed.

Local products fail to dominate retail market

While the Vietnamese retail market is considered to be highly profitable by foreign distributors, locally-made products still have little presence in the lucrative market.

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