Business

Despite interest rates being capped at 15% for four industries, many enterprises are still finding it difficult to access bank loans.

HSBC is in talks to sell assets in several South American countries, the banking giant said Thursday, as part of its plans to streamline global operations to cut costs.

MIT and the Vietnam Food Association want to develop an internationally recognised brand for Vietnamese rice by choosing and cultivating several high quality varieties.

The PM has approved the Vietnam Rubber Group's business plan by 2015, which calls for an annual increase in turnover by 15 per cent and pre-tax profits of 22 per cent a year.

Price of gold in Vietnam fell by VND1 million a tael over the previous day to the lowest level in past nine months on May 9 fueled by a sharp drop in global price.

Maritime experts say it is a huge waste for the government to favour the unprofitable Vinalines.

Members of Vietnam Bank Card Association have decided not to collect internal ATM transaction fees this year.

The Ministry of Finance announced five bailout packages in order to support enterprises in overcoming economic difficulties.

Enterprises should be honest and have more realistic business plans in order to access bank loans, banking experts said.

HSBC Vietnam has adjusted down Vietnam growth forecast from 5.7% to 5.1% for this year, as the credit crunch is occurring faster than expected.

The project on developing an urban railway in Hanoi was approved to receive USD1.1 million in support from the Asia Development Bank.

The Vietnam Posts and Communications Group will launch the satellite, Vinasat-2, in the middle of this month.

The third session of the 13th NA will consider a bailout package worth VND29,000 billion ($1.3 billion) as a solution to save businesses, the Government announced.

The Government is advised to introduce strong measures to lower business expenses in light of falling demand.

The insurance market will continue to expand this year, with total premiums expected to reach USD2.2 billion, up 24% from last year, says a recent report from A.M. Best.

The euro dropped to its lowest level in more than three months after the defeat of ruling parties in French and Greek elections.

The State Bank of Vietnam decided to limit the ceiling for annual lending interest rates for four industries at 15% beginning May 8.

The Government has approved proposal to suspend import of second-hand machinery, equipment and production lines.

The number of jobs created last quarter was higher than expected due to the Government's new policies, said an official.