The credit growth of the banking system started to show improvement in January-April, at 1.4%, though it was only 0.03% in the first quarter, the State Bank of Vietnam (SBV) reports. The above credit growth is quite positive compared to a reduction of 0.2% in the same period in 2012. However, according to SBV, the credit improvement is still lower than the target. The low credit growth is often seen... 

While other property firms are waiting for a bailout, a number of investors are seeking ways to save themselves, considering the current hard times as an opportunity to prove their capability and prestige. Projects keep moving Nam Long Investment Corp. last week held a topping-out ceremony for the first phase of its Ehome 3 Saigon West project in HCMC’s Binh Tan District one month ahead of schedule.... 

Securities enterprises predicted that liquidity on the local markets would not improve this week as investors would stay on the sidelines again before important macro news is announced. Last Friday, both markets were relatively quiet as the holiday-shortened trading week came to a close and there was little news so far on the second day of the 7th Central Party Committee meeting, which is scheduled... 

Vietnam’s central bank said it imported gold to make up for a reduction in reserves from sales to local commercial banks. The purchases were equivalent to the amount sold at the auctions, the State Bank of Vietnam said in a statement on its website today, without giving details. The bank sold 367,000 taels in 13 auctions held from March 28 through May 3, it said. A tael is about 1.2 ounces. The... 

CAN THO – Local exporters have lowered the offer price of 5% broken rice further, even though Thailand has announced it will delay the plan for selling off 500,000 tons of rice in stock. The export offer price of the 5% broken rice is currently US$375-385 a ton, down US$5 against last week. Meanwhile, offer prices of 25% broken rice and broken rice are unchanged from the previous week, standing... 

Post & Telecommunication Insurance Joint Stock Corporation, or PTI, and Maritime Commercial Bank cut a deal last week to distribute home insurance product M-HomeCare. Maritime Bank under the agreement will become the sole distributor of the M-HomeCare product. Customers who buy this product will enjoy simple procedures, preferential insurance premiums and other assistances in home rentals and... 

The local economy has yet to see signs of recovery as listed enterprises in various sectors continued to report disappointing business results in the first quarter of this year. Around 500 out of 700 enterprises listed on the two local exchanges have released financial statements in the first quarter. Of which, nearly 50 firms have incurred losses while many others have seen their profits tumbling... 

Many banks have brought forward merger plans at their annual shareholders’ meetings, including several obvious deals to be carried out soon. The merger between Dai A Bank and HDBank has been approved by the central bank, said HDBank Chairwoman Le Thi Bang Tam at the recent shareholders’ meeting, where the proposal for this merger was passed. Similarly, the merger plans by Maritime Bank, Sacombank... 

DANANG – Han River Sun Company Limited under Sun Group on Tuesday put into operation the hotel-serviced apartment complex Novotel Danang Premier Han River facing the Han River in Danang City’s center. The Novotel Danang Premier Han River which is one of the tallest structures in central Vietnam with 37 floors consists of high-end apartments and 323 hotel rooms, modern meeting rooms and restaurants... 

Vietnam ranked second in the Southeast Asian region for overseas remittance with $10 billion in 2012, according to the latest report issued by the World Bank (WB). The Philippines topped the list with $24.45 billion. Indonesia came third with $7.2 billion, followed by Thailand ($4.12 billion), Malaysia ($1.27 billion) and Myanmar ($0.56 billion). On the global scale, Vietnam ranked ninth, while India...