Business

EVN asks for immediate power price hike due to huge losses

State-owned Electricity of Vietnam Group is seeking approval from the Ministry of Industry and Trade to increase power prices.

G7 vows robust action to fix global economy

G7 rich nations vowed tough measures Friday to get the global economy back on track but were short on detail and admitted the problems were so complex.

Bank of America cuts 'could hit 40,000'

US financial giant Bank of America is considering cutting up to 40,000 jobs, the Wall Street Journal reported Friday.

Vietnam drops lower down on index of competitiveness

The Report on Global Competitiveness 2011-12 by the World Economic Forum announced that Vietnam ranked 65th on the global competitiveness index.

Producers concerned about snowballing stockpiles

Local manufacturing firms are struggling to liquidate their output as inventories of various kinds of industrial products are piling up quickly.

Hanoi seeks to lower prices of low-income houses

Hanoi authorities are seeking ways to reduce prices of low-income houses.

Eurocham launches green business program city

A series of European conferences and exhibitions on green business will be organised in Ho Chi Minh City next week.

State bank takes drastic measures to lower interest rates

The State Bank of Vietnam is to apply stricter punishments to those that violate capped deposit interest rates.

G7 meet aims to revive global growth

The world's top financial leaders meet in France to work on a plan to solve the European debt crisis that is rattling markets.

Banks wary of Haiphong steel industry

As of August, many steel producers and traders owe debts of trillions of dong, which they are finding difficult to repay.

US giants plan big deals in Vietnam

Several US investors such as Chevron, Boeing and Mastercard have made plans for their big investment projects in Vietnam.

Samsung, Microsoft tie up for new tablet

South Korea's Samsung Electronics has teamed up with Microsoft to make a new tablet computer powered by the US software giant's latest operating system, according to a report.

Government stands firm on curbing inflation

PM Nguyen Tan Dung said that the Government would continue to pursue target of taming inflation rather than economic growth.

Obama 'to inject $300 billion' in bid to create jobs

US President Barack Obama will propose the injection of $300 billion into the sputtering US economy to create jobs, US media are reporting.

ECB set to halt rate hikes, say analysts

The European Central Bank will this week call a halt to its recent cycle of rising interest rates, analysts predicted.

Banks strike deal with SBV to cut lending rates

After a meeting with the State Bank of Vietnam, several commercial banks have agreed to reduce their lending interest rates.

Vietnam's efforts to cope with crisis highlighted

International experts and donors praised the Vietnamese Government’s efforts to cope with crisis, inflation and recession at the Consultation Meeting with Development Partners.