Vietnam Doubles Daily Trading Band for Dong to 2% (Update2)

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Vietnam Doubles Daily Trading Band for Dong to 2% (Update2)

Post by yunowu on Thu Jun 26, 2008 2:49 pm

By Van Nguyen and Giang Nguyen
June 26 (Bloomberg) -- Vietnam doubled the trading band for the dong against the dollar to 2 percent, responding to market pressures to weaken the currency.
The central bank will widen the daily trading range from 1 percent, effective from tomorrow, according to a statement released at a press conference in Hanoi. The State Bank of Vietnam this month devalued the dong by 2 percent to avoid currency speculation.......

http://www.bloomberg.com/apps/news?pid=20602097&sid=ahNI6pJaVLPs&refer=world_currencies

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Vietnam dong drops to low end of new band

Post by yunowu on Fri Jun 27, 2008 7:39 am

Friday June 27, 1:09 PM

HANOI, June 27 (Reuters) - The Vietnamese dong dropped on Friday to the low end of a new widened trading band, set up to address economic risks, after the central bank set the official exchange rate at a record low.
The dong fell as low as 18,846 per dollar and was quoted around 16,840/16,846 by 0347 GMT. The central bank cut its daily rate, which sets the central point for the day's trading, by 0.39 percent to 16,516 dong per dollar.....

http://asia.news.yahoo.com/080627/3/3leap.html
http://www.reuters.com/article/marketsNews/idINSP1855720080626?rpc=611

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Vietnam bans dong/dollar trading via third currency

Post by yunowu on Fri Jun 27, 2008 7:41 am

HANOI, June 26 (Reuters) - Vietnam's central bank said on Thursday it has banned the trading of U.S. dollar and dong via a third currency as it moves to regain control of the dong/dollar exchange rate.
The directive is effective immediately....

http://www.reuters.com/article/marketsNews/idINHAN4752620080626?rpc=611

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Philippines weakest Asian economy after Vietnam -HSBC

Post by yunowu on Fri Jun 27, 2008 7:43 am

SINGAPORE, June 26 (Reuters) - Philippines is the most vulnerable economy in Asia after Vietnam, as rising prices and a global slowdown threaten the country's ability to pay for its balloning trade deficit, an HSBC economist said....

http://www.reuters.com/article/marketsNews/idINSIN10507620080626?rpc=611

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FACTBOX-Foreign investment projects in Vietnam

Post by yunowu on Fri Jun 27, 2008 7:44 am

Thu Jun 26, 2008 12:23am EDT

June 26 (Reuters) - Vietnam estimated on Thursday that
foreign direct investment pledges in the first half of 2008
would rise nearly four-fold from a year earlier to $31.6
billion. The Foreign Investment Agency (FIA) said Taiwan had become
the biggest foreign investor in Vietnam with the government
granting a licence to Formosa to invest $7.8 billion in a steel
mill in Vung Ang in the central province of Ha Tinh...http://www.reuters.com/article/marketsNews/idINHAN469920080626?rpc=611

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Singaporean Group Expands Investment in Vietnamese Tourism PJT

Post by yunowu on Fri Jun 27, 2008 7:46 am

Thursday June 26, 9:24 AM
THUA THIEN-HUE, June 26 Asia Pulse - The Banyan Tree group of Singapore has been licensed to triple its investment in a tourism and services project in the central province of Thua Thien-Hue ...

http://asia.news.yahoo.com/080626/4/3lc23.html

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Japan Willing to Help Vietnam Develop Seaports

Post by yunowu on Fri Jun 27, 2008 7:47 am

Wednesday June 25, 2:24 PM
HANOI, June 25 Asia Pulse - First Secretary of the Japanese Embassy in Vietnam Jin Kimoto, has affirmed that Japan is willing to assist and cooperate with Vietnam in developing seaports and improve seaport management capacity....

http://asia.news.yahoo.com/080625/4/3lamo.html

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Vietnam Launches Tourism Portal

Post by yunowu on Fri Jun 27, 2008 7:48 am

Wednesday June 25, 1:02 PM

HANOI, June 25 Asia Pulse - Vietnam's biggest tourism information portal was officially operational on June 23 at http://e-travel.vn

http://asia.news.yahoo.com/080625/4/3lamd.html

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EU helps Vietnam on its poor corporate governance

Post by yunowu on Fri Jun 27, 2008 7:49 am

Wed Jun 25, 2008 3:38am EDT
By Grant McCool
HANOI, June 25 (Reuters) - Most Vietnamese companies lack corporate governance policies, a business group said on Wednesday as it pushed to improve the running of listed firms and to reduce risks of corruption and bankruptcy in the developing market.
The Vietnam-European Union Business Forum said it would take several years for "international best practices" to take root in the Communist Party-run country in transition to a market economy from central planning where state interests still hold sway.....

http://www.reuters.com/article/marketsNews/idINSP25312520080625?rpc=611

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Vietnamese Shoe Firms Face Eu Dumping Tariffs

Post by yunowu on Fri Jun 27, 2008 7:51 am

Wednesday June 25, 12:48 PM

HANOI, June 25 Asia Pulse - Vietnam's National Association of Italian Footwear Manufacturers (ANCI) is planning to ask the European Union to renew anti-dumping tariffs on non-athletic leather shoes exported to the EU from China and Vietnam, the Vietnamese Ministry of Industry and Trade reported yesterday....

http://asia.news.yahoo.com/080625/4/3lamb.html

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US, Vietnam boost trade ties as firms seal deals

Post by yunowu on Fri Jun 27, 2008 7:52 am

Wednesday June 25, 2:08 AM

WASHINGTON (AFP) - US and Vietnamese firms signed several businesses deals Tuesday as the two countries pledged to boost trade ties during a state visit by Vietnamese Prime Minister Nguyen Tan Dung....

http://asia.news.yahoo.com/080624/afp/080624180839business.html

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IMF sees little risk of contagion from Vietnam woes

Post by yunowu on Fri Jun 27, 2008 7:55 am

Tue Jun 24, 2008 4:18am EDT

SEOUL, June 24 (Reuters) - Economic troubles in Vietnam show the dangers of slow policy responses, but the risk of the country's problems spreading to the rest of the region is low, an International Monetary Fund official told Reuters on Tuesday....

http://www.reuters.com/article/marketsNews/idINSP14076620080624?rpc=611

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Re: Vietnam Doubles Daily Trading Band for Dong to 2% (Update2)

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