Vietnam tightens control over state-bank partnership

“The government wants to protect state assets because state-run banks have huge assets, many of which are not profitable now,” a Vietnamese analyst was quoted by Reuters.

Ending the nation’s love affair with gold

The State Bank of Viet Nam has reset the dollar-peg six times since 2008, nominally devalueing the currency by a cumulative total of over 20 per cent. Excluding the public’s purely speculative motives, one likely explanation for widespread shetering of assets in gold underscores not only a weaker currency but overall economic instability.

Vietcombank 2010 gross profit rises 8% – CEO

Total assets rose 20.3% to 306.86 trillion dong ($15.8 billion), and loans jumped 24.9% to more than 175 trillion dong, Chief Executive Nguyen Phuoc Thanh wrote in a report published on Tuesday by the Banking Times newspaper.

Gold bond issuance proposed

Vietnamese people have the habit of keeping gold in their coffers, considering this the best way to preserve their assets. Especially, people have rushed to purchase gold in recent days, when the gold price has been increasing continuously, and the high inflation rate has been threatening the Vietnam dong interest rates.

IFC to buy bonds to own 10 pct in Vietnam’s ABBank

The investment would be IFC’s second in a Vietnamese lender since October, after a $186 million purchase in October for 10% of stake in VietinBank , the country’s top partly private lender by assets.

Real Vietnamese billionaires still hiding their faces?

Dr Dang Duc Son, Deputy Dean of the Finance and Banking Faculty of the Economics University under the Hanoi National University, said that it is very difficult to find the real richest Vietnamese billionaire. In Vietnam, in many cases, the assets are not in the names of the real owners, but in the names of brothers or relatives. Therefore, it is very difficult to calculate the values of assets of individuals.

Vietnamese businesses still don’t pay sufficient attention to branding

To date, many Vietnamese enterprises still have been following the traditional way in doing business. They have been mostly spending money on tangible assets, such as factories, land and workshops. Meanwhile, intangible assets such as intellectual property, technology and product ownership, and brands do not receive appropriate attention.

ONGC in BP talks over Vietnam assets

R.S. Sharma, chairman of the state-owned Oil and Natural Gas Corp, told the Financial Times that he would be in Hanoi on Thursday with Murli Deora, India’s oil minister, to discuss the deal with the Vietnamese authorities and PetroVietnam, the state oil company. He said the matter would also be discussed with David Cameron, the UK prime minister, on his official visit to New Delhi next week.

PetroVietnam eyes BP assets

The Vietnamese disposal is part of a series of asset sales planned by BP to raise $30bn by the end of 2011 to help pay for the costs of its oil spill in the Gulf of Mexico. BP announced on Monday it had agreed to sell its pipeline and production assets in Vietnam and Venezuela to TNK-BP, Russia’s third-largest oil company, which is half-owned by BP.

HSBC tapped to sell BP's stake in Vietnam gas project

HONG KONG/LONDON July 29 (Reuters) - BP (BP.L) has tapped HSBC (0005.HK)(HSBA.L) to sell its stake in the Nam Con Son gas project in Vietnam, as it scrambles to hive off $30 billion of assets to pay for the clean-up of the worst oil spill in U.S. history, three sources said.

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