Local shopping website signs deal with Sumitomo; Viettel expands mobile market in Cameroon; HP unveils SME-tailored servers; Thai Nguyen steel mill starts work

VietNamNet Bridge – After two months of deploying the VND30 trillion housing credit package initiated by the Government, local banks have disbursed and committed to lend a total of nearly VND800 billion only, the State Bank of Vietnam reports.

 VietNamNet Bridge – Approximately 55 tons of gold has been put into circulation through bidding, which has helped narrow the gap between the domestic and the international prices. But the gold demand is still very high.

 VietNamNet Bridge – The move by the State Bank of Vietnam of raising the dollar buy price has been commented as showing its determination to keep the dong/dollar exchange rate stable.

 VietNamNet Bridge – The State Bank of Vietnam (SBV) will be able to acquire stakes in those banks kept under special control when Decision 48/2013/QD-TTg of the Prime Minister takes effect on September 20.

VietNamNet Bridge – Total assets for the banking industry reached 5,225 trillion VND by the end of May, the highest level since the State Bank of Vietnam decided to disclose the figure in June 2012.

 VietNamNet Bridge – The State Bank of Vietnam (SBV) will not adjust the foreign exchange rate at present and will take bold measures to stabilise the forex market, a senior SBV official has affirmed.

The state management agencies kept silent when something unusual happened in the foreign currency market. As a result, people had no other choice than making a wild guess about the market prospect.

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 VietNamNet Bridge – From January to May 2013, the State Bank of Vietnam (SBV) found 21 corruption cases, related to nearly VND683 billion ($34 million), over 561 taels of gold and $50,000.

 The State Bank of Viet Nam (SBV) has adjusted the dong-dollar reference rate for the first time since December last year to 21,036 from 20,828, according to a statement on the central bank's website.

VietNamNet Bridge – The State Bank of Vietnam will give approval to enterprises to import material gold to serve production of jewelries and gold artworks,

 VietNamNet Bridge – Foreign investors are looking for room to grow in the banking sector.

 VietNamNet Bridge – The June 30 deadline for local banks to stop gold mobilization and lending is coming to a close but seven banks have still failed to secure enough gold to repay customers,

 VietNamNet Bridge – Governor of the State Bank of Vietnam - Nguyen Van Binh, has attributed the dollar price increases recently to the banks’ “unfair play.”

Commercial banks all have raised the dollar selling price to the ceiling level of VND21,036 per dollar. The State Bank’s Exchange late last week quoted the selling price at VND21,360 per dollar.

VietNamNet Bridge – Vietnam has been mostly relying on the monetary policies in regulating the national economy, while the fiscal policy has been ignored.

The pressure on the banking system has been eased once the bad debts are on the decrease. However, bankers themselves admitted that their worries still have not been lifted.

Accessing bank loans had never been an easy thing for small and medium enterprises (SMEs). However, things have become quite different -- banks have been trying to persuade SMEs to borrow money.

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