Business

The Ministry of Industry and Trade has demanded that fuel wholesalers be held responsible for the quality of fuel distributed under their systems following a spate of unexplained vehicle fires.

The rumours that Petrol Vietnam would stop supplying E5 bio-petrol has been quashed by the company deputy director.

Vietnam Airlines has taken over the entire state-owned stake in the budget airline Jetstar Pacific.

Vietnam requested consultations with the US, under the WTO dispute settlement system, after the US introduced anti-dumping measures on certain frozen warm water Vietnamese shrimps.

European governments have opened the way for a radical offer of "debt relief" for Arab north African and Middle Eastern neighbours, EU and governmental sources said.

The State Audit continues to uncover mismanagement in the Vietnam Oil and Gas Group (PVN).

The railroad project No. 5 which runs from Hoa Lac to the West Lake of Hanoi, with a total capital of several billion USD has been kicked off.

Hanoi was placed 13th and HCM City 12th among the most expensive cities in Asia in 2011 in terms of three-room apartment rent, according to a report from ECA International.

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.