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[2010-03-18] As lending interest reaches new heights, some firms borrow from employees
As lending interest reaches new heights, some firms borrow from employees
(Listed March 18, 2010)
Not quite a month since the State Bank freed banks to charge a negotiated rate on medium and short term lending, those rates have risen to the 18-20 percent per annum range. State Bank of Vietnam (SBV) reports show that in the week of March 5-11, banks were offering 10 to 10.49 percent per annum on dong deposits, one percent per annum to businesses that deposited dollars and 3 to 4.5 percent to in... |
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[2010-03-18] Prime Minister inspects first river-tunnel project
Prime Minister inspects first river-tunnel project
(Listed March 18, 2010)
Prime Minister Nguyen Tan Dung ordered that safety, quality and tempo of construction be top priorities for the Thu Thiem Tunnel project, which will cross the Saigon River, after an inspection on March 16. The Government leader recognized efforts made by project executives and contractors in successfully towing and installing unit 1 of the nation’s first river tunnel – the biggest of its kind in Southeast As... |
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[2010-03-18] Hanoi home prices out of reach
Hanoi home prices out of reach
(Listed March 18, 2010)
With apartment and house prices becoming more and more expensive, the hope to own a home in Hanoi is just a far-away dream for many young people. Xuan Bach, a media executive at a well known company, has been searching to buy a home for the last several years, but he still cannot buy anything. Bach is now living in a rented room in Hoang Mai district and pays one million in rent. With a monthly income of five million dong, after basic nee... |
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[2010-03-18] High costs pressure cement makers
High costs pressure cement makers
(Listed March 18, 2010)
As prices rise for input materials, enterprises are debating whether or not to raise cement prices. The electricity price increased 6.3 per cent on March 1, and coal, gas and other materials caused cement prices to increase 2 to 3 per cent. Therefore, many cement enterprises have said that they will increase their prices in the near future, according to Nguyen Van Thien, chairman of the Viet Nam Cement Association. Hoang Xuan Vinh, depu... |
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[2010-03-18] Low-income housing projects to enjoy preferential loans
Low-income housing projects to enjoy preferential loans
(Listed March 18, 2010)
The Construction Ministry said March 16 it has cooperated with the Vietnam Development Bank to formulate a pilot plan to provide loans at preferential interest rates to build houses for workers and low-income residents. Under the plan, enterprises can borrow loans worth up to 70 percent of the total investment capital in their housing projects at interest rates of 6-7 percent per year for 10 to 15-year terms.... |
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[2010-03-12] Will ceiling interest rate scheme be removed for short term loans?
Will ceiling interest rate scheme be removed for short term loans?
(Listed March 12, 2010)
Commercial banks are feeling confused by hearing conflicting information from government agencies about removing the interest rate ceiling on short-term loans. At a press conference on March 3, 2010, Le Duc Thuy, Chair of the National Finance Supervision Council, stated: “The Government is now leaning toward instructing the State Bank of Vietnam (SBV) to allow negotiation-based interest rates in al... |
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[2010-03-12] City residents lament ceaseless roadworks
City residents lament ceaseless roadworks
(Listed March 12, 2010)
Ho Chi Minh City residents complain that despite the recent completion of several city road works, there looks to be no end in sight to the disruptive projects in 2010. More than 30 kilometers of pavement will be dug up in HCMC this year as part of infrastructure upgrades, leaving locals to deal with the ensuing traffic jams and chaos caused by the works. Last month, the HCMC Department of Transport told contractors to dismantl... |
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[2010-03-12] Central Vietnam set for revival of resort boom
Central Vietnam set for revival of resort boom
(Listed March 12, 2010)
It will be an exciting year for resort development in the central coastal region with 700 rooms being added, real-estate consultant CB Richard Ellis has said in a report. This will take the number of rooms in the region from Danang to Hoi An to 2,000. The new rooms will be supplied by Silver Shore International Resort, Olalani, and Life Resort when they open to guests this quarter. Half of the rooms will be in Danang-bas... |
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[2010-03-12] Property prices in UK’s most expensive street soar
Property prices in UK’s most expensive street soar
(Listed March 12, 2010)
The average cost of a property in the most expensive street in England and Wales has soared by £300,000 during the past year, according to new research. Chester Square in Belgravia, London, held on to its title as the most expensive place to live in 2010, with the average property there costing £6.6 million, according to a report from housing information website Mouseprice. Despite the real estate mark... |
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[2010-03-12] Gov’t revokes 266,000 sqm of public land
Gov’t revokes 266,000 sqm of public land
(Listed March 12, 2010)
The Ministry of Finance has revoked more than 266,000 square meters of public land from State-owned corporations and groups in Hanoi and HCM City since last September, to reorganize public assets. The ministry took 252,000 square meters from 57 enterprises in HCM City and a further 14,000 square meters from four Hanoi-based groups. These enterprises were illegally leasing State-owned assets for profit, while many land plot... |
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[2010-03-12] Capital disbursement for student dorms moving sluggishly
Capital disbursement for student dorms moving sluggishly
(Listed March 12, 2010)
Ho Chi Minh City and Hanoi are disbursing capital for the construction of student accommodation too slowly, the Ministry of Finance has said. Earlier, during a meeting between ministry leaders and Deputy Prime Minister Nguyen Thien Nhan, the Finance Ministry petitioned not to provide governmental bonds of around VND2 trillion for construction of student dorms in 2010 because capital disbursement had been too slow.... |
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[2010-03-10] China has largest property investment market in the world after US slumps 64%
China has largest property investment market in the world after US slumps 64%
Thứ 4, 10/03/2010
China overtook the US as the world’s biggest property investment market last year and will probably keep the lead in 2010 on economic growth and a lower reliance on debt, it is claimed in a new report.Real estate investment in China more than doubled to $156.2 billion last year, while the total for the US slumped 64% to $38.3 billion, the report from New York based broker Cushman & Wakef... |
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[2010-03-10] Economic hub’s real estate market ready to hit top gear
Economic hub’s real estate market ready to hit top gear
Thứ 4, 10/03/2010
The real estate market in Vietnam’s largest city is looking to perform better in this year’s second quarter. “Vietnam’s real estate market is expected to bounce back in 2010 after the global financial crisis. However, clear recovery will begin only from the second quarter in Ho Chi Minh City,” said Luong Tri Thin, chairman of Dat Xanh Real Estate Construction and Services Joint Stock... |
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[2010-03-10] Can Tho bridge to be inaugurated on April 21
Can Tho bridge to be inaugurated on April 21
Thứ 4, 10/03/2010
The Prime Minister has agreed that the Can Tho bridge will be inaugurated on April 21 this year. Can Tho is the cable-stayed bridge with its main span being the longest in Southeast Asia. The bridge spanning the Hau river, 23.1 metres in width, has four motorised lanes and two pedestrian lanes. Construction of the bridge began in September 2004 with the total investment being estimated at VND 4.84 trillion (about US$342.6 million... |
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[2010-03-10] Gold slides as investors take profits
Gold slides as investors take profits
Thứ 4, 10/03/2010
The price of gold in Vietnam slid VND100,000 a tael on March 9 over the previous day as global prices declined due to investors’ profit-taking. At most gold shops, bullion was bought at VND26.65 million and sold at VND26.75 million, fetching VND600,000 higher than global prices. According to jewelers, the bullion market remained muted because investors were still waiting for the VND27 million mark to reappear. Globally, investors&... |
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