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[2009-08-29] Bank says banking crisis easing
Bank says banking crisis easing
(Listed Aug 28, 2009)
The Bank of England says conditions in the financial system are easing, although the banking system is fragile and vulnerable to disruption.
In its Financial Stability Report, it said the total losses from the financial crisis reached $15tn (£10tn).
However, that is a substantial improvement from March's estimate of a $25tn fall in the value of such assets.
The Bank also calls for further regulation to prevent banks get... |
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[2009-08-28] HCMC to become metropolis by 2020: draft report
HCMC to become metropolis by 2020: draft report
(Listed Aug 28, 2009)
Ho Chi Minh City is expected to become a 10-million-population metropolis with satellite urban areas by 2020, according to a draft report on the city’s urban development recently sent to local authorities.
The draft, made by HCMC Department of Construction, said the satellite areas will be developed in four different directions towards the adjacent provinces of Binh Duong, Dong Nai, and Tay Ninh.
However, ... |
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[2009-08-28] Ministry rushes to map out land allocation for 2010
Ministry rushes to map out land allocation for 2010
(Listed Aug 28, 2009)
The Ministry of Natural Resources and Environment is rushing to finish inspecting the efficiency of land use and to map out land allocation for next year for submission to the Government this month.
The project will be the foundation of the land law and the premise for positioning the general zoning map and land allocation for 2011-2020 aiming to protect rice growing areas and forests to guarantee food security and en... |
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[2009-08-28] Starwood expanding high-end hotels chain in Vietnam
Starwood expanding high-end hotels chain in Vietnam
(Listed Aug 28, 2009)
American's Starwood Hotels & Resorts is planning to open three new high-end hotels and resorts in well-known tourist destinations in Vietnam in the next three years. Patricia Neo, senior director of Customer Contact Centre for Starwood Hotels & Resorts Asia Pacific, said Starwood was launching five-star Sheraton Nha Trang Hotel & Spa located along Tran Phu Boulevard in Nha Trang in November. The 30-story hote... |
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[2009-08-28] US$47 million in Gov’t bonds mobilised
US$47 million in Gov’t bonds mobilised
(Listed Aug 28, 2009)
The Hanoi Stock Exchange (HNX) on August 26 sold at auction US$47 million worth of government bonds out of a total US$100 million tendered during the second bidding session of 2009. The two-year bonds, issued in USD by the State Treasury, will earn a low registered interest of 2.9 percent, and a high one of 4.5 percent per year. Each bond has a face value of US$100. Six HNX members participated in the bidding session with a v... |
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[2009-08-28] CapitaLand to invest in China, Vietnam
CapitaLand to invest in China, Vietnam
(Listed Aug 28, 2009)
Southeast Asia's largest property developer CapitaLand said on Tuesday it was deploying S$1 billion of 1.8 billion in capital raised from a recent rights issue to its businesses in China, Vietnam and the Ascott Group. It said S$500 million of the one billion will go to its China arm, S$299 million to Vietnam and the remainder to Ascott, a wholly-owned unit that operates serviced apartments. While the rest of the S$1.8 billion will be... |
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[2009-08-28] Real Estate Market: Houses Selling Better Than Apartments
Real Estate Market: Houses Selling Better Than Apartments
(Listed Aug 28, 2009)
While the apartment market remains very quiet because of low demand, houses priced at below 2 billion dong have been selling very well because the number of people who have a demand for and ability to purchase houses at medium price levels keeps rising.
Less than $2 billion houses favoured
Local newspaper VNExpress reporters, acting as house buyers, went to several real estate trading floors in Hanoi to purchase... |
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[2009-08-27] Jan-Aug FDI inflows down 8.5 percent
Jan-Aug FDI inflows down 8.5 percent
(Listed Aug 27, 2009)
Foreign direct investment (FDI) registration in Vietnam reached US$10.453 billion in the first eight months of 2009, fell 8.5 percent compared with the same period last year, said a Ministry of Planning and Investment report.
The report, issued on Aug. 25, said the biggest investors included the US with US$3.956 billion and Taiwan ($1.353 billion). According to the report, there are 35 countries and territories investing in Viet... |
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[2009-08-27] Real estate market: houses selling better than apartments
Real estate market: houses selling better than apartments
(Listed Aug 27, 2009)
While the apartment market remains very quiet because of low demand, houses priced at below 2 billion dong have been selling very well because the number of people who have a demand for and ability to purchase houses at medium price levels keeps rising.Less than $2 billion houses favoured Local newspaper VNExpress reporters, acting as house buyers, went to several real estate trading floors in Hanoi to purchase h... |
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[2009-08-27] Becoming more cautious, banks now checking loans
Becoming more cautious, banks now checking loans
(Listed Aug 27, 2009)
Commercial banks have become more cautious in their lending since the State Bank of Vietnam (SBV) adjusted the targeted credit growth rate from 30 percent to 25-27 percent.Commercial loaning going more slowly… In the first six months of 2009, outstanding loans of banks increased more rapidly than their mobilised capital. Mobilised capital increased by 16.2 percent over the end of 2008, while outstanding loans by 17... |
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[2009-08-27] Banks rush to raise capital
Banks rush to raise capital
(Listed Aug 27, 2009)
Banks with charter capital of less than VND2 trillion (US$111.7 million) are striving to boost equity to that level by the end of this year to comply with State Bank of Viet Nam regulations.
Under Decree 141/2006/ND-CP, joint stock commercial banks must have at least VND3 trillion ($167.6 million) by December 31, 2010, or face dissolution or merger with other banks. Currently, 22 out of 38 domestic joint stock commercial banks still have cha... |
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[2009-08-26] Phu My Bridge to open to traffic next month
Phu My Bridge to open to traffic next month
(Listed Aug 26, 2009)
The Phu My Bridge, which crosses Ho Chi Minh City’s Saigon River, will open to traffic on September 2 after four years of construction. BOT Phu My Bridge Company Director Nguyen Thanh Thai announced the opening date for the six-lane bridge last Thursday. The VND2.1 trillion (US$116.8 million) bridge, which connects HCMC’s districts 2 and 7, is designed to ease traffic congestion on the Saigon Bridge and in the ci... |
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[2009-08-26] Property sales soar in Singapore
Property sales soar in Singapore
(Listed Aug 26, 2009)
Residential property sales in Singapore have soared, reaching a record high since the country's Urban Redevelopment Authority began recording figures.
The latest data shows there were 2,767 real estate units sold in July this year, the highest monthly sales volume since records began in 2007. This followed another record month in June when 1,825 units were sold. This means that property sales rose by 51.6% from June to July and it also ... |
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[2009-08-26] Scottish property market showing signs of turning positive
Scottish property market showing signs of turning positive
(Listed Aug 26, 2009)
Residential property prices in Scotland are continuing to fall but analysts believe the market is turning as some areas experience increases.
Overall prices fell in the second quarter of 2009, according to the latest figures from Lloyd TSB Scotland's latest Scottish House Price Monitor. In the three months to 31 July 2009, the quarterly price index for the average domestic property in Scotland fell by 1.4%,... |
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[2009-08-26] Real estate valuation institutions still outside the ‘playing field’
Real estate valuation institutions still outside the ‘playing field’
(Listed Aug 26, 2009)
Real estate valuation institutions are still playing a minimal role in the real estate market, which explains why investors cannot get the information they want when they are considering investment decisions.Five institutions give ten different pricesAccording to Truong Thai Son, a member of the Standing Committee of the Vietnam Valuation Association, there are 200 member property valuation f... |
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