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[2009-10-12] Sept luxury home sales nearly triple in Hong Kong
Sept luxury home sales nearly triple in Hong Kong
(Listed Octob 12, 2009)
Luxury-home sales in Hong Kong almost tripled in September from a month earlier, as mainland residents bought properties in the city. The registered sales of homes worth more than HK$10 million ($1.3 million) rose to 1,351 from 500, according to a report from the Land Registry yesterday. In September 2008, 168 transactions were completed. A one-bedroom apartment in the Kowloon district sold for a record HK$24.5 million... |
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[2009-10-11] Listing abroad not easy for local firms, insiders say
Listing abroad not easy for local firms, insiders say
(Listed Octob 11, 2009)
Listing procedures have proved difficult for Vietnamese firms aiming to sell shares on foreign stock markets, businesses including the only Vietnamese firm listed abroad told Thanh Nien in recent interviews.
The Hanoi-based infrastructure developer Cavico Corp. completed a “hard journey” in meeting all the requirements to become the first Vietnamese firm listed on the US national securities exchange N... |
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[2009-10-10] Both bankers and borrowers unhappy
Both bankers and borrowers unhappy
(Listed Octob 10, 2009)
VietNamNet Bridge – While borrowers are complaining of raised lending rates on existing loans banks are trying to restrict new loans fearing credit growth rates exceeding the 30 percent ceiling.
One Vietnam Thuong Tin (Vietbank) client said that he had been told that there would be an interest rate increase from 14.5 percent to 15.57 percent per annum.
Asia Commercial Bank (ACB) also announced a rise in lending inter... |
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[2009-10-10] New airport to dwarf Tan Son Nhat; needs $6 billion
New airport to dwarf Tan Son Nhat; needs $6 billion
(Listed Octob 10, 2009)
Construction of a new southern airport four times the size of country’s largest airport will cost come US$6 billion in its first stage, according to the project’s investor. The state-owned Southern Airports Corporation (SAC) will conduct a geological survey this month around the location of Long Thanh International Airport in the southern province of Dong Nai – some 40 kilometers to the northeast of... |
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[2009-10-10] Real estate trading floors facing tougher guidelines
Real estate trading floors facing tougher guidelines
(Listed Octob 10, 2009)
The Ministry of Construction is considering setting tougher guidelines for real estate trading floors in order to improve sub standard service. According to the House and Real Estate Market Management Department under the Ministry of Construction (MOC), there are now 226 operational real estate trading floors nationwide. These include 123 floors in HCM City and 82 in Hanoi. Other trading floors are located in Binh ... |
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[2009-10-09] Hanoi to build 18 overpasses
Hanoi to build 18 overpasses
(Listed Octob 09, 2009)
Hanoi is to invest 350 billion dong in building 18 pedestrian overpasses for busy roads including Giang Vo, Thai Ha and Nguyen Trai.Nguyen Sy Bao, director of the management board of Key Construction Projects in Hanoi, says the project includes two stages both funded by the Hanoi urban traffic facility development project, which is in turn funded by the Japan International Cooperation Agency (JICA).The first stage will see ten overpasses i... |
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[2009-10-09] Confab offers property opportunities
Confab offers property opportunities
(Listed Octob 09, 2009)
The Viet Nam Tourism Property Association is preparing for a major conference and exhibition on investment in the real estate market on October 20-22.This second annual event will include participation of 700 domestic and international investors and representatives of property management companies, law firms and bankers from 30 countries and territories, as well as Government officials and delegates from 30 cities and provinces.Aro... |
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[2009-10-09] Central province OKs massive US tourism investment
Central province OKs massive US tourism investment
(Listed Octob 09, 2009)
The Quang Nam Province People’s Committee issued a license to US developer Tano Capital, LLC and Global C&C for its US$4.15 billion Dragon Beach tourism and entertainment complex on October 1.The 400-hectare complex will come up in Dien Ban District and have hotels, resorts, an international conference center with a capacity of 10,000, entertainment facilities, offices, apartments, and villas.It will be the ... |
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[2009-10-09] US office market vacancy rate at five-year high
US office market vacancy rate at five-year high
(Listed Octob 09, 2009)
The U.S. office vacancy rate reached a five-year high in the third quarter, pushed up by extra unused space that just about wiped out all the gains made during the commercial real estate boom, according to real estate research firm Reis Inc. The national vacancy rate rose 0.6 percentage point to 16.5 percent from the prior quarter and is up 2.3 percentage points from a year earlier, according to a report Reis released on... |
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[2009-10-09] Prime EU property yields stabilising in Q3
Prime EU property yields stabilising in Q3
(Listed Octob 09, 2009)
Prime commercial property yields across Europe are showing signs of stabilising in the third quarter and are even dropping on average in London and Paris, global property broker CB Richard Ellis said on Tuesday.CBRE said its EU-15 all-property average prime yield index was stable at 6.13 percent in the quarter, having gained 130 basis points (bps) between mid-2007 and the first quarter of 2009. Nick Axford, CBRE's head of EME... |
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[2009-10-09] Gov’t to consider salary cuts at state-owned enterprises
Gov’t to consider salary cuts at state-owned enterprises
(Listed Octob 09, 2009)
The Labor, War Invalids and Social Affairs Ministry (MoLISA) has asked the Prime Minister to cut down wages of workers in state-owned enterprises that incur losses in 2009 by 20 percent.
According to MoLISA, following the global economic recession, the profit and productivity of some state-owned economic corporations and groups have reduced in 2009.
According to the Finance Ministry, for all stat... |
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[2009-10-09] Fund for displaced residents runs out of cash
Fund for displaced residents runs out of cash
(Listed Octob 09, 2009)
A fund set up by HCM City to assist residents whose lands have been acquired for public works cannot cope with the demands placed on it since too many families are demanding help, its management said.
Around 40,000 families displaced by infrastructure projects are demanding assistance worth VND135 billion ($7.6 million), but Fund 156 said it only has VND15 billion.
The demands include VND7 billion for paying school fees fo... |
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[2009-10-09] Bankers pin hopes on personal credit
Bankers pin hopes on personal credit
(Listed Octob 09, 2009)
VietNamNet Bridge – Though commercial banks have tightened consumer credit it still remains a key product.
Banks prefer providing consumer loans because they can lend at negotiable interest rates. With other types of loans there’s less profit attached because they cannot lend at more than 10.5 percent per month.
The demand for loans from individual clients has always been at high level, especially, now the dema... |
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[2009-10-09] Gold price skyrocketing, dollar price escalating
Gold price skyrocketing, dollar price escalating
(Listed Octob 09, 2009)
VietNamNet Bridge – The gold price has hit a new record surpassing the 23 million per tael threshold this morning. Meanwhile, the dollar price has also hit a new high of 17,848 dong per dollar.
According to SJC Hanoi its brand name gold was traded at 22.98-23.09 million dong ($1,351-1,358) per tael this morning (sale and purchase), an increase of 100,000 dong ($5.88) per tael over yesterday afternoon.
B... |
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[2009-10-08] Rate race still on as banks ignore stability pact
Rate race still on as banks ignore stability pact
(Listed Octob 08, 2009)
Commercial banks in Vietnam continue to raise deposit interest rates to attract more funds despite an industry agreement in September to keep rates stable for the remaining months of the year. The two largest lenders by assets, Agribank and BIDV, last week raised their interest rates on both dong and dollar deposits by up to 0.5 percentage points, according to the central bank’s weekly report. The central bank sa... |
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