Gold price hits new record high as world markets jitter By Trieu Thuong Linh - The Saigon Times Daily HCMC – People rushed to buy gold but companies refrained from trading as the local price broke a new record of VND48.6 million per tael on Monday over jittery global markets. After approaching VND48 million per tael in the morning, the price of the yellow metal advanced further in the afternoon to hit a new high of VND48.2 million for buying and VND48.6 million for selling, up by VND1.45 million against last weekend at Saigon Jewelry Holding Co. (SJC). A tael is equivalent to 1.2 troy ounces. Meanwhile, Sacombank Jewelry Company (SBJ) changed its price quotations 15 times, hovering around VND48.11 million for buying and VND48.49 million for selling respectively. According to the company’s sales department, many people rushed to buy gold at a higher price. Nguyen Ngoc Que Chi, general director of SBJ, said sale volume reached 5,000 taels and buying below 700 taels. Gold … [Read more...] about Gold price hits new record high as world markets jitter
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World marketing guru gives tips on boosting int’l image
World marketing guru gives tips on boosting int'l image (17-08-2007) HCM CITY — Professor Philip Kotler, who is considered the "father of modern marketing," says Viet Nam should vitalize its own image in the eyes of visitors and foreign visitors through its people and businesses. Speaking at a press conference in HCM City yesterday, Kotler said: "Viet Nam is possessing a very good image. The Vietnamese people are recognised as friendly, hospitable and ambitious." "When Viet Nam has decided on what image it has to build in the eyes of visitors and foreign visitors, it needs to put forward guidelines for the people and businesses to vitalise it." He said: "It is more likely if the people and businesses also take part in selecting the image that they stand for. It is required for their agreement to be reached in a natural way and acts as an impetus for them to represent the image that they want to build up." Professor Kotler today chairs a conference on contemporary global marketing … [Read more...] about World marketing guru gives tips on boosting int’l image
VN-Index up following world market recovery
"The rebound today is not surprising as the local market is now governed by psychological factors (of the global economy)," said Vu Duc Nghia, the deputy director of Bien Viet Securities. He explained that what happened in the international and regional stock exchanges on Oct. 13-14 influenced local investors' attitudes towards securities trading. Since the beginning of the week, Asian and EU stock markets started strong recoveries after the US Federal Reserve and finance ministers of the biggest global economies started injecting money into the banking system, and acquiring stakes in commercial banks. The decisions reassured global investors who feared a spreading economic crisis. "When local investors saw fervent sentiments appearing world-wide, they began worrying less. Then they came back to securities trading," Nghia added. Despite the strong recovery of shares, the market saw a modest trading volume of 9.07 million shares, worth 300.93 billion VND (17.91 million USD). This … [Read more...] about VN-Index up following world market recovery
Petrol and oil prices up on domestic market
The Ministry of Finance was forced to increase petrol retail prices on the domestic market today due to the continued rise of world oil prices. The new rate, effective of 10am this morning, jumped by VND2,900 per litre for petrol to VND19,300, by VND3,550 per litre for diesel oil to VND18,300, by VND3,100 for kerosene to VND18,200 and by VND2,110 per litre for fuel oil to VND14,800, said Vuong Thai Dung, deputy general director of the National Petroleum Corporation (Petrolimex). Today's annoucement marks the highest ever petrol price in Vietnam beating the previous high of VND19,000 per litre set in 2008 when the world oil price jumped to US$130 per barrel (1 barrel = 159 litre). The Ministry of Finance has also announced it will stop using the petrol price stabilisation fund due to the huge losses in petrol and oil trading in recent months. The ministry said the state was forced to approve the increase because of the recent spike in oil prices even after using stabilisation mechanisms … [Read more...] about Petrol and oil prices up on domestic market
VinaLiving offers quality across the housing market
'VinaLiving believes young buyers of mid-range townhouses today will be buyers of luxury products in the future. We will give them a quality product now and will be more than happy to deliver higher-end residences to them in the future. Our brand will grow alongside our clients.' As one of the few developers in Vietnam that remains active in property market during the current slowdown, VinaCapital has proven its ability to weather downturns and continue to deliver projects to consumers. David Henry, VinaCapital's managing director of Real Estate, talks about the launch of the VinaLiving brand and its role in the firm's on-going residential projects. VinaCapital has marked a milestone in residential market growth by launching the VinaLiving brand. So how can VinaCapital, VinaProjects and VinaLiving work together in Vietnam? VinaLiving is a brand - not a company - established by VinaCapital for the sale of its residential developments. We established VinaLiving over 18 months ago to … [Read more...] about VinaLiving offers quality across the housing market