Business

Banks have refused to exchange small change for "lucky Tet money", forcing many people to pay exorbitant rates on the black market.

The United States Patent and Trademark Office granted the patent to “Binh Thuan Dragon Fruit”, said President of the Binh Thuan province Dragon Fruit Association, Bui Dang Hung.

The investor of Thach Khe iron ore mine has decided to double investment in the project to ensure it is completed on schedule.

Europe faces an "unprecedented" crisis and must rediscover growth, French President Nicolas Sarkozy warned.

An average-income earner has to save money for over 50 years to be financially capable of buying an average-class apartment, showed a study by CB Richard Ellis.

A new headquarters of the Hanoi Stock Exchange was inaugurated in Hanoi on January 15 in the presence of National Assembly Chairman Nguyen Sinh Hung.

The results of petroleum sample test will be announced before the Tet holiday, said an official.

The eurozone economy plunged back into crisis as France and Austria were stripped of their top triple-A credit ratings and Standard and Poor's downgraded a swathe of debt-laden EU members.

Petroleum firms have been requested to import a minimum of 10.1 million cubic metres of petroleum products this year.

China's forex reserves, the biggest in the world, fell to $3.18 trillion in the last quarter of 2011, the central bank said, the first quarterly fall since 1998 during the Asian financial crisis.

Four Vietnam National Petroleum Group staff have admitted to stealing petrol and adulterating remaining tanker supplies.

The country has not yet had enough conditions to lower the interest rate in the banking sector, said Governor of the State Bank of Vietnam Nguyen Van Binh.

Many coffee trading companies operating in Dak Lak have announced bankruptcy, putting the pressure on local growers.

The State Bank of Vietnam (SBV) has allowed local businesses to import 2,100 tonnes of gold, announced the General Department of Customs on January 12.

Petroleum traders nationwide will be held responsible for all petroleum products in their distribution system, said Minister of Industry and Trade Vu Huy Hoang.

Vietnam has urged Turkish contractors to pay outstanding salaries to Vietnamese guest workers who previously worked in Libya.

The SBV is aware of rising flout of the capped deposit interest rate and more measures will be applied in 2012, said its Governor.

The European auto industry needs to cut its capacity by 10 to 20% in response to slack demand, Fiat chief Marchionne said.

Five to eight more banks will be involved in merger in 2012, said Governor of the State Bank of Vietnam Nguyen Van Binh.