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First banks merged in central bank’s restructuring

Ficombank, TinNghiaBank and Saigon Commercial Bank (SCB) have become the first three banks to be merged, as the State Bank of Vietnam begins to implement its plan on restructuring the banking system.

SOCIETY IN BRIEF 6/12

France assists gastric cancer treatment; Two dead projects frustrate communities; Vietnam to negotiate climate change loan with WB; Man with 90 kg tumor awaits another chance; PM urges mobilising all resources for mine clearance

NASA helps Vietnam develop space technology

The Vietnam Academy of Science and Technology and the National Aeronautics and Space Administration (NASA) of the US signed a joint declaration on the intention of cooperation in civil space and aviation activities in Hanoi on December 5.

SOEs still keep cement positions in lucrative business fields

After 20 years of reform, the number of state owned enterprises (SOEs) remains relatively high, while SOEs have not abandoned the lucrative business fields such as real estate or retailing.

Total lunar eclipse to occur in Vietnam

Vietnamese people and astronomers will have the chance to see the second lunar eclipse on the night of December 10.

Party Chief to pay a visit to Cambodia

Party General Secretary Nguyen Phu Trong will pay a State-level visit to Cambodia from December 6-8 at the invitation of King Norodom Sihamoni.

Wikileaks founder Assange wins latest round of legal battle to appeal extradition

Wikileaks website founder Julian Assange won leave from the English High Court on Monday to ask the country's Supreme Court to examine his bid to avoid extradition from Britain to Sweden.

Nghe An, Navibank ready for Super Cup

Defending V-League champions Song Lam Nghe An will meet Navibank Sai Gon in what is expected to be a tough encounter for the Super Cup match, the season opener, at Vinh Stadium next Saturday.

Hanoi to spend $1.6 million in combating illiteracy

VietNamNet Bridge – Hanoi authorities have issued an anti-illiteracy and educational development plan which aims to reach national standards on anti-illiteracy in all districts and communes.

Shrimp nets hinder foreign vessels from anchoring at Chan May Port

“If nets and fishing equipment are still set in the passage, our ship may change its schedule and not dock at Chan May port anymore because of safety,” said the captain of a foreign cruise ship.

Many music shows scheduled for Dec.

VietNamNet Bridge – Besides personal shows, periodical programs are also scheduled in December.

Vietnam’s per capita income to top $1,300

Vietnam’s gross domestic product (GDP) this year is expected to reach US$119 billion, while per capita income will be roughly $1,300, according to Vu Huy Hoang, the Minister of Industry and Trade.

Goldsmith companies told to stop making bullion gold

In the last few months, only SJC has been allowed to import material gold. Meanwhile, non-SJC goldsmith companies have just been told to stop making bullion gold.

Smartphone market has potential to grow

The smartphone market in Viet Nam would develop strongly in the next two or three years, said general director of Huawei Zhao Wei Jun.

Vietnam Army performs rocket-firing maneuver

The Vietnamese Air and Air Defense Force on December 4 executed the firing of real rockets, anti-aircraft artillery, and ZCY-23 self-propelled artillery, as part of its 5-day drill in Bac Giang Province.

U.S. approves Google's 400 mln dollar acquisition of Admeld

The U.S. Justice Department Friday approved Google's 400 million dollar acquisition of Admeld, a company that provides an online advertising platform for publishers.

Dealing with bad debts, how?

The non-performing loan (NPL) situation in Vietnam proves to be worse than previously thought. Dealing with bad debts is one of the most important things Vietnam needs to do in the banking restructuring.

Central bank plays it coy over interest rates

Rumors are spreading that the cap on deposit interest rates may fall to 12% per annum from the current 14%, but at a regular meeting of the Government last Thursday, State Bank Deputy Governor Nguyen Dong Tien neither confirmed nor rejected it.

Israeli brain researcher wins prestigious U.S. award

A Hebrew University brain researcher was awarded the U.S. Society for Neuroscience's (SfN) Swartz Prize for Theoretical and Computational Neuroscience, the university said in a statement issued Sunday.

BUSINESS IN BRIEF 6/12

Spain helps improve Vietnam’s tourism capacity; Ninh Thuan calls for investment; Private investors less optimistic; Manufacturers enjoy lower rent; Exemptions granted from environmental taxes; Garment exporters aim high