Business

Japan’s largest chemical producer invests in Vietnam

Japan's Shin-Etsu Chemical Co will set up two companies specialising in manufacturing silicone-based materials for high-brightness LED lights, and refining rare earth minerals in Vietnam

January exports reach USD6.5 billion

Vietnam earned USD6.5 billion in exports in January, down by 28.5 percent from last December and 11.1 percent for the same period last year, said the Ministry of Industry and Trade.

IMF slashes world growth forecast

The International Monetary Fund slashed its forecast for world economic growth.

Prime Minister restricts mineral exports

PM Nguyen Tan Dung issued a circular banning export of certain minerals to deal with the increasing violations in mineral exploration, processing and export.

Vietnam sees record low in CPI nearing Tet

The estimates for Vietnam’s consumer price index in January were just a 1% increase against December 2011.

Car fee hikes could slam brakes on auto industry growth

The recent hikes in car registration and license-plate fees have worsened things for the automobile market, which was already struggling due to the economic downturn.

Trade deficit drops in early 2012

Vietnam’s exports, imports and trade deficit decreased dramatically in the first month of 2012, according to the General Statistics Office.

Gov’t to stop licensing bauxite exploration projects in north

The Government has decided to cease licensing new bauxite exploration projects in northern regions.

Hanoi CPI up 0.96%

Purchasing power does not drastically increase in the month approaching Tet to reduce the pressure of inflation this January, Hanoi Statistics Office has said.

G20 consensus on need to increase IMF resources

The G20 group of powerful economies agrees on the need to boost IMF resources but has not yet discussed figures, according to a meeting on Friday.

Increased funding to stabilise Tet petrol prices

Petroleum traders have been requested to maintain petrol prices throughout the Tet holiday, and will increase the use of the petrol price stabilisation fund.

Banking and finance pay highest salaries in 2011

Labourers’ average salary reached VND3.84 million (USD182.54) per month in 2011, according to a new report.

Asians seek more Vietnam shrimp

Domestic shrimp exporters will boost their shipments to Asian markets this year, said a local official.

Dangerous chemical used in gas adulteration

The Vietnam Gas Association has detected a number of local gas traders who have imported dimethyl ether to dilute gas.

EU to sanction Iran bank, Greece holds up oil embargo

EU nations agreed to sanction Iran's central bank, freezing assets used to finance its nuclear drive, but have yet to clinch an oil embargo deal that could penalise debt-hit Greece.