debt

Update news debt

 Vietnamese banks’ outstanding loans rise 4.75%; US$1bn target for fruit and vegetable exports within reach; Vietnam considers anti-dumping investigation into imported steel; FTA opens doors for garment industry in Vietnam

Da Nang: Ward vice chairwoman runs away, leaving debts

Being unable to pay her debts, suffering from persecution, the vice chairwoman of Hoa Thuan Tay Ward in Da Nang City left office in early April, taking her two children away from home.

Debt seen heavier in years to come

VietNamNet Bridge – The debt burden on the country will get heavier in the coming years, with debt obligations forecast to rise from VND126.8 trillion this year to VND152.6 trillion in 2014 and VND173.1 trillion in 2015.

BUSINESS IN BRIEF 29/4

Cruise tourism to get popular in coming years; FTA talks may bring GI assistance; VN slaps extra duty on veggie oil imports; Stanchart: SBV to cut rates further; Banks announce reduction in executive pay

BUSINESS IN BRIEF 23/4

Possible tax breaks cause concern for budget; Economist urges removal of interest rate caps; Steel sector sees positive signs in 2013; Possible tax breaks cause concern for budget

Nine buses in fire at dawn

VietNamNet Bridge – Nine buses that parked 2-5 meters from each other were burnt down. The authorities doubt that someone set the fire.

International creditors extend debts for Vinashin

The debt of $600 million, together with interest of the Vietnam Shipbuilding Industry Group (Vinashin) has been agreed by over 51% of the creditors to convert into new bonds, with a term of 12 years.

Creditors may agree to Vinashin’s restructuring plan

VietNamNet Bridge - Credit Suisse has sent a letter to 20 other creditors of Vinashin, informing them that it will approve the Vinashin restructuring plan and suggesting they follow.

Workers “beat” their bosses for wage debt

VietNamNet Bridge – The New Year is coming but many workers are still not paid. Hiring gangsters to acquire wage debts, threatening to sue or even beating employers are tragicomedies about workers’ claim of wage these days.

Vinashinlines to go bankrupt

The Vinashin ocean shipping company will be one of two subsidies of the Vietnam Maritime Corporation (Vinalines) that will be permitted to go bankrupt in the process of restructuring Vinalines.

Prime Minister directs to rescue Quang Nam’s ethanol plant

PM Nguyen Tan Dung has asked the Ministry of Industry and Trade and the State Bank of Vietnam to coordinate with the related agencies to help Dong Xanh JSC remove difficulties for the Dai Tan ethanol plant in Quang Nam province.

Businessmen admitted to mental hospitals at the year end

VietNamNet Bridge - According to the doctors, the number of mental patients for economic reasons rose highly in 2012, especially at the end of the year. Many patients used to be big bosses and famous businessmen.

Park boss offers $5mil. reward for anyone who proves his wife’s debts

The owner of the Dai Nam Tourist Area has offered VND100 billion ($5 million) of reward for anyone who can prove that his wife mortgaged his property for loans.

State-owned groups report losses of nearly $62 billion to the PM

VietNamNet Bridge – A report released at the meeting with the Prime Minister this morning, January 16 shows that the losses of state-owned groups and corporations in 2012 significantly improved when compared to 2011.

State-owned groups: the past and present

In late afternoon on August 4 of over two years ago, along with the public's coil on the arrest of the Vinashin's Chair - was the government's regular press conference, a special one because it was chaired by Deputy PM Nguyen Sinh Hung.

BUSINESS IN BRIEF 29/12

Seafood exports to surf past $6 billion this year; Viet Nam among five biggest investors to Cambodia; Banks face threats despite improved balance sheets; Giants crush mom'n'pop retailers; Income tax exemptions to rise

EU on verge of bridging pre-summit gulf on banks watchdog

 European governments argued through the night in a bid to agree a deal on tightening the oversight of eurozone banks, hours before leaders stage on Thursday their final summit of a gruelling third year in debt-crisis mode.

More foreign invested enterprises run away, leaving debts

Not only one, two or several businesses, but numerous foreign invested enterprises (FIEs) have disappeared.

IIF says Greek debt buyback must be 'voluntary'

 A powerful international bank lobby warned Thursday that the outcome of Greece's looming debt buyback program remains uncertain and warned that it must be "purely voluntary."

Greece wins significant debt relief

 Greece won big breathing space with long-frozen eurozone loans to restart from December and a first clear admission that a chunk of the country's debt burden will need to be written off down the line.