Business

Vietnam to pump first Venezuela oil in 2012

PetroVietnam and Venezuela National Oil Petroleum Company have reached an agreement on measures to extract the first oil flow from Block Junin 2 in Venezuela

Seven G20 countries face scrutiny over imbalances

Seven G20 countries face deep scrutiny over their fiscal and financial imbalances, French Finance Minister Christine Lagarde said.

Seafood exports face low profits, high costs

Exports by seafood companies have shown lower profits due to high production costs.

Russia to run Ninh Thuan Nuclear Power Plant

Russia will be in charge of the operation of Vietnam’s first nuclear power plant in the central province of Ninh Thuan, said Russian Ambassador to Vietnam.

Vietnamese auto manufacturer surpasses Toyota

Vietnam’s Truong Hai Auto Joint Stock Corporation surpassed Toyota in domestic auto sales in March for the first time.

SBV to consider upping foreign stakes in banks

The State Bank of Vietnam will consider allowing commercial banks to sell 20% of their charter capital to a single foreign strategic investor.

A new ceiling on USD deposit interest rates

Vietnam decided to raised the required level of foreign exchange reserves by 2% with a ceiling on USD deposit interest rates reduced to 3%/year.

Toyota Vietnam starts fixing faulty cars

Toyota Motor Vietnam announced they begin to repair 278 Camry 3.5 and Camry 2.4 cars facing technical problems at all its agents nationwide.

World Bank, IMF lead move to help North Africa

Global finance chiefs moved to aid strife-torn North Africa as the IMF and WB warned of more potential social unrest from high food prices.

BP faces angry protests at first AGM since spill

BP was facing angry protesters and disgruntled shareholders on Thursday at its first annual general meeting since an oil spill in the Gulf of Mexico.

Localities slash capital spending

Authorities have pulled the plug on VND3.4 trillion worth of projects. Minister of Planning and Investment Vo Hong Phuc spoke about the issue.

Rattan makers to attend WWF fair

Two Vietnamese rattan companies were chosen by the World Wide Fund for Nature to attend a design fair in Germany.

Competition heating up Vietnam’s aviation market

Vietnam has officially become a competitive aviation market after more licensed airlines have taken off and declared competition with Vietnam Airlines.

Individuals only allowed to carry $5,000 abroad

The State Bank of Vietnam will issue a regulation allowing individuals to carry only USD5,000 abroad as maximum.

Obama proposes $4 trillion in deficit cuts

US President Barack Obama unveiled a $4 trillion deficit reduction drive on Wednesday and savaged Republican plans that he said would reward the rich.