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Big guys hurry to withdraw capital from securities companies

VietNamNet Bridge – A new wave of big investors withdrawing capital from securities companies has been noted. Securities companies turn out to be not the geese that lay golden eggs as they previously thought. Giving up the games The Cho Lon Securities Company has officially announced the dissolution. This is the first securities company that makes such a statement after ... Read More »

Co-opXtra throws down a challenge to Metro

VietNamNet Bridge – Metro had been the only modern wholesaler until the day Co-opXtra, a joint venture of the Vietnamese Saigon Co-op and Singaporean NTUC FairPrice. Saigon Co-op jumps on the bandwagon On May 4, Saigon Co.op – NTUC FairPrice Company Ltd received the investment license and announced the establishment of the Co-opXtra hypermarket and Co-opXtra Plus brands. The joint ... Read More »

Where will the German real estate tycoon invest in Vietnam?

VietNamNet Bridge – Vietnamese real estate developers now keep curious about what the German real estate tycoon Thomas Kramer looks for in Vietnam and where he would put his money into. Thomas Kramer is expected to come to Vietnam in July. Some sources said that the German tycoon would stay in Vietnam for six days, during which he would visit ... Read More »

Justice Ministry rules on exclusive gold bar production

The Ministry of Justice has replied to inquiries from National Assembly deputies, clarifying the position on the State monopoly of gold bar production. Deputy Tran Thi Quoc Khanh of Hanoi said the Prime Minister’s Decree 24/2012/ND-CP released in April last year, did not specifically designate any business to produce gold bars. However, Decision 1623/QD-NHNN released by the State Bank of ... Read More »

Increase in cash flow helps markets climb

The value of negotiated transactions in the HCM Stock Exchange on May 9, worth 1.16 trillion VND (55.2 million USD) accounted for 64 percent of a total market value of nearly 1.82 trillion VND (86.7 million USD). Trading focused on bank shares, however. More than 47.3 million shares of Sacombank (STB), worth over 1 trillion VND, changed hands through negotiations. ... Read More »

Vietnam participates in Paris Fair 2013

Vietnamese businesses are participating in the ongoing 109th Paris Fair 2013 (Foire de Paris 2013), which is held in Paris from April 30 to May 12. With around 50 pavilions covering an area of 630 square metres, the Vietnamese businesses, mostly small- and medium-sized or family-owned ones, display traditional handicrafts and fine art items, such as brocade, jewelry, lacquer, silk, ... Read More »

Louis Vuitton offers designer bags made to order

The French luxury brand Louis Vuitton on May 8 opened another store in Hanoi, the first in Vietnam featuring a haute maroquinerie “Made to Order” salon where clients can create their own personalised Louis Vuitton bags. At the salon, clients have a range of options on bag shapes, locks, types of leather and colours. The personalised bags are mage in ... Read More »

BUSINESS IN BRIEF 10/5

Planned oil refinery capacity increased The planned Vung Ro oil refinery project in central Phu Yen province would increase investment capital from US$1.7 billion to $3.18 billion and its capacity would be doubled to 8 million tonnes a year. The investment licence was being adjusted accordingly, the provincial People’s Committee said. The oil refinery would be built in Hoa Tam ... Read More »

Glut of companies struck with Q1 losses

VietNamNet Bridge – Over 60 listed companies, most of which are brokerage companies and firms operating in the shipping and building material sectors, reported losses during the first quarter of this year. In the securities sector, draining liquidity on the stock market saw brokerage revenues for most companies shrink, with small securities businesses in general losing out to larger firms. ... Read More »

Outlook bleak for real estate sector

Outlook bleak for real estate sector A view of Trung Hoa – Nhan Chinh Urban Zone in Ha Noi. The property market is forecast to continue enountering difficulties for the rest of the year. —VNS Photo Truong Vi HA NOI (VNS)— The Vietnamese property market is expected to continue struggling for the rest of 2013, with hopes of a quick ... Read More »