Business

Vietnam will regulate prices of electricity, coal and petroleum in accordance with market fluctuations beginning in 2013, said Vuong Dinh Hue, Minister of Finance.

HCM City’s consumer price index in February increased by 1.32% over January – a record high in nine months, said the municipal General Statistics Office.

The Ministry of Finance decided to slash petroleum and jet fuel import taxes in order to support domestic petrol traders.

Eurozone finance ministers sealed a deal for a massive new bailout of Greece early Tuesday, several sources said.

Eurozone chiefs moved early towards closing a deal for a massive new bailout of Greece.

Illegal petrol continued flood Hanoi streets despite its Department of Market Management tightening control over petrol dealing.

The Hongkong and Shanghai Banking Corporation has predicted that the weaker import demand and a controlled weakening of the exchange rate by the SBV will help stabilise VND in 2012.

It is necessary to restructure state-owned enterprises so as to change their role in the economy, said one economist.

Vietnamese authorities have agreed in principle that they will remove 83 octane gasoline from circulation because of safety concerns.

The Government will suspend new economic zones in order to focus on developing the existing projects.

The lower comparative advantage of price, instability in the Middle East and the debt crisis in Europe have all adversely affected Vietnam’s farm product exports.

Iran ordered a halt to its oil sales to Britain and France in a move seen as retaliation against tightening EU sanctions.

Around USD1.4 billion will be needed to build a new Hanoi-Lang Son expressway, with USD500 million in support from the Asian Development Bank.

Several securities companies have halted operations or changed addresses without notice as a result of a lingeringly gloomy market.

2012 will be a good year for real estate investors despite the difficulties on the horizon, said real estate service firm CBRE.

The World Bank (WB) will provide Vietnam with financial and technical assistance to restructure State-owned enterprises, said WB Country Director Victoria Kwakwa.

Vinashin still owes VND292.148 billion in unpaid debts to the Vietnam Development Bank as of January 31.

Some big banks have started to lower interest rates and more banks are expected to follow suit to cut interest rates by around 1%.

At least 15 major transport projects will be carefully audited for the quality of their management and construction.