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BriefsTuesday, 04/17/2012, 12:55

Monday, April 16, 2012

Monday

Monday, April 16, 2012


Economic downturn forecast to hit Vietnam again
HANOI � The country�s leading experts have voiced concern that Vietnam is entering into a fresh battle to stave off yet another economic downturn, citing the central bank�s latest ceiling deposit rate reduction.


Ceiling interest rate reduction to 12 percent causes shock
Though the State Bank of Vietnam stated that it would lower the ceiling deposit interest rate by one percent every quarter if the macroeconomic conditions and inflation remain stable, the decision to lower the interest rate to 12 percent in early April still surprised observers.


Banks to help enterprises refinance debt
The State Bank of Viet Nam (SBV) has asked commercial banks to reschedule enterprises' loans that they have not been able to pay back on time because of negative economic conditions.


Policies help boost shares
Economic movements will continue to hinder stock indices from conquering new high levels, predicts Viet Dragon Securities Co analyst Nguyen Thi Phuong Lam, noting that the nation's stock market has already absorbed the postive effects of last month's supporting data.


Vietnam to increase minimum wage
Minimum wages of State employees are expected to rise from VND830,000 (US$40) to VND1,050,000 ($50) per month, effective from May 2012, in a move to help them cope with rising inflation.




 


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