Party General Secretary Nguyen Phu Trong (right) and Russian President Vladimir Putin at a reception held in Hanoi in November 2013 (Source: VGP) NDO – On the threshold of an official visit to the Russia Federation, General Secretary Nguyen Phu Trong granted the Russian News Agency TASS an interview on the purpose of the visit and sound developments of the Vietnam-Russia comprehensive strategic partnership. >> Party leader’s visit to boost Vietnam-Russia ties: Russian experts Question (Q): What would you expect from the upcoming official visit to Russia and what will you discuss with President Vladimir Putin and Russian leaders? Answer (A): The traditional time-honoured Vietnam-Russia friendship, founded by President Ho Chi Minh, has been nourished by generations of both nations’ leaders and people. Vietnamese people are forever grateful to the Russian people for their heartfelt and effective support to the nation during its fights for liberation in the … [Read more...] about Forging Vietnam-Russia comprehensive strategic partnership
What experts say about reliance capital share
BUSINESS IN BRIEF 16/4
Poultry breeding heats up again General manager CP Vietnam Montri Suwanposri said that Vietnam’s poultry prices are closer with prices of other countries; accordingly, CP Vietnam will sell chicken to Japan after finishing paper works as per the partners’ requirement. Montri Suwanposri added that C.P in Thailand is the leading firm exporting chicken meat to Japan for years with the quantity of five million a week. There has been an increase in poutry meat orders lately because many countries banned import chicken from Brazil , an exporter of chicken to Japan, after food safety scandal. These countries switched to import chicken meat from Asian countries especially Thailand. At present, prices of poultry in hi-tech farms in Vietnam is similar to chicken prices in other Asian countries, accordingly, C.P Thailand will share its orders with Vietnamese firms and C.P Vietnam has planned to sell chicken meat to Japan in 2019. In 2017, Vietnam’s livestock sector marked its … [Read more...] about BUSINESS IN BRIEF 16/4
BUSINESS IN BRIEF 1/2
Central bank seen intervening in gold tradingThe State Bank of Vietnam (SBV) in a draft decision on gold bar trading suggests a possibility of intervening in the gold market by transacting with gold trading organizations. The agency would decide to trade gold in either direct transaction or through auctions. The SBV governor would decide on buying and selling prices of gold bars on the domestic market. The central bank may also open overseas accounts to import material gold and supplement the nation's foreign exchange reserve to facilitate gold bar trading in the country. When the central bank's intervention is needed, the agency would set up plans to buy or sell gold bars, making clear time, volume, transaction methods and partners. Concerning the gold market after January 10, a representative of SBV said that gold trading has slowed down. Although gold balance arising from gold purchasing and selling activities of credit institutions at the end of the day is regulated not to exceed 2 … [Read more...] about BUSINESS IN BRIEF 1/2
BUSINESS IN BRIEF 30/1
Indices soar as over 55% of shares rise Shares surged on the first trading day after the long Tet (Lunar New Year) holiday on both national stock exchanges with over 55 per cent of codes posting gains in value. On the HCM Stock Exchange, the VN-Index concluded this morning at 384.94 points, an increase of 3.2 per cent over the previous session. More than 74 per cent of shares closed higher, of which half hit the daily limit of 5 per cent. All of the 10 leading stocks by capitalisation gained, seven of which soared to the ceiling prices, including insurer Bao Viet Holdings (BVH), Phu My Fertiliser (DPM), food giant Masan Group (MSN), steelmaker Hoa Phat Group (HPG), PetroVietnam Finance (PVF) and real estate developers Hoang Anh Gia Lai (HAG) and Vincom (VIC). Saigon Securities Inc (SSI) became the most active code with 1.8 million shares exchanged, hitting the ceiling price at VND15,000 ($0.71). Trading value today decreased 12 per cent over the previous session, however, … [Read more...] about BUSINESS IN BRIEF 30/1
Greece claims magnate stole from his own bank
ATHENS (Reuters) - With the money tight all over Europe, one high-flying Greek businessman allegedly found a novel way of getting easy credit: two years ago he bought a controlling share in a bank, installed his own managers and then loaned himself and his associates nearly 600 million euros (US$760 million). Greek prosecutors allege Lavrentis Lavrentiadis, 39, turned the country's Proton Bank, which has since been nationalized, into what one Athens newspaper called a "bank of cronies." Lavrentiadis, who vigorously denies the allegations and has accused the authorities of acting illegally, has been called to appear before public prosecutor Ioannis Dragatsis at an Athens court next week. He is formally under investigation over accusations of fraud, embezzlement and corruption, but has not been charged. An audit by the Bank of Greece, which regulates the industry, found that more than 40 percent of Proton's commercial loans in 2010 were made to companies related to Lavrentiadis. … [Read more...] about Greece claims magnate stole from his own bank