While global gold prices are expected to surge strongly in 2013, local experts have yet to give any predictions for development of domestic gold prices as new rules on gold trading have just taken effect. Most large banks worldwide such as Goldman Sachs, BNP Paribas, UBS and Bank of America have predicted the precious metal to shoot up to over US$1,800 an ounce this year, explaining that many countries,... 

Goldman Sachs Group Inc., Morgan Stanley and Deutsche Bank AG are among 13 financial institutions that submitted bids to advise Vietnam Joint Stock Commercial Bank for Industry & Trade on its planned $500 million overseas bond sale, according to Deputy General Director Le Duc Tho. Others that sent in bids include HSBC Holdings Plc, Standard Chartered Plc, Australia & New Zealand Banking Group... 

France’s BNP Paribas on Monday inked an agreement to raise its stake in Orient Commercial Bank (OCB) from 15% to 20% after obtaining approval from the central bank. The foreign bank will acquire 27 million shares issued by OCB to increase its chartered capital from VND2.73 trillion to VND3 trillion. BNP Paribas has been the strategic foreign investor of OCB since 2007. The two banks now have strengthened... 

Commonwealth Bank of Australia (CBA) and Singapore’s United Overseas Bank (UOB) can raise their respective stakes in two Vietnamese banks to the 20 percent ceiling for foreign ownership, Vietnam’s central bank said on Monday. Hanoi-based Vietnam International Bank (VIB) plans to increase its registered capital by 6.25 percent to 4.25 trillion dong ($206.3 million), the central bank said,...