Business

The State Bank’s proposal to impose tighter regulation on gold trading may leave jewellers on the verge of bankruptcy.

Eurozone must settle their debt crisis this week to stop Greece toppling into default and dragging bigger euro economies into deeper trouble.

Gold prices on the domestic market have increased by nearly VND200,000 per tael to hit a new record high of VND39.24 million (USD190).

The White House expressed confidence that a catastrophic debt default would be averted, but warring US lawmakers no closer to a deficit deal.

The Dung Quat Oil Refinery on July 17 sold 3,000 cu.m of jet petrol to the Vietnam Air Petrol Company to serve flights of the national flag carrier, Vietnam Airlines.

The Vietnam Gas Corporation signed a deal worth 441.57 million USD for engineering, procurement and construction of a gas processing plant in HCM City.

For the first time, Vietnam exported 100,000 tonnes of sugar to China, said Deputy Minister of Agriculture and Rural Development Bui Ba Bong.

The Government will reimburse an estimated loss of VND1.22 trillion incurred by Petrolimex, according to one official.

Prime Minister Nguyen Tan Dung has proposed PetroVietnam and Vietsovpetro promote their exploration to increase oil and gas reserves.

A company in HCM City will restart the Binh Trieu 2 bridge and a road project which have been stagnant for 10 years.

The European Union is likely to tighten regulations governing imports – to the detriment of Vietnamese exporters – trade experts said.

Vietnam taxation authorities retrieved a total USD108.2 million from 107 foreign-invested firms involved in tax evasion.

Low fares carrier Jetstar Asia will launch the Singapore-Hanoi service in winter schedule and increasing frequency to HCM City next month.

European customs intercepted EUR1 billion worth of counterfeit goods in 2010, with 85% of the fakes from China, the European Commission said.

PM Nguyen Tan Dung has requested drastic measures to speed up the Thach Khe iron ore project in Ha Tinh.

An unsatisfied demand for some agricultural products was blamed for price hikes, said Minister of Agriculture and Rural Development Cao Duc Phat.

Vietnam Posts & Communications Group has been short-listed for the international Broadband Infovision Awards 2011.

Over 450 websites owned by Vietnamese agencies and enterprises were hacked in June.

A Vietnam-US Business Forum was held in New York on July 13 by the Vietnam Chamber of Commerce and Industry, and the US Chamber of Commerce.