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BriefsMonday, 05/21/2012, 03:34

Monday, May 21, 2012


Monday, May 21, 2012

Moody's places ratings of SHB on review for possible downgrade
Moody's Investors Service has today placed the B2 deposit and issuer ratings of Saigon-Hanoi Commercial Joint Stock Bank (SHB) on review for possible downgrade. The bank's standalone bank financial strength rating (BFSR) of E+, which maps to a baseline credit assessment of b2, was also placed on review for possible downgrade.

Gov�t to have more fiscal, monetary maneuverability in 2012
Vietnamese fiscal and monetary policies will likely be more maneuverable in 2012, as the country�s macroeconomic situation is stabilizing, said an economist who is also a member of the National Assembly�s Economics Committee.

Freight& forwarding market opening puts pressure on domestic businesses
Vietnamese freight and forwarding enterprises, which are smaller, less experienced and less known than foreign companies, have been facing big challenges since Vietnam has opened its market since January 2012.

Vietinbank to sell 20% to partner
The Bank for Industry and Trade of Viet Nam (Vietinbank) plans to sell 20 per cent of its shares to a strategic partner in the third or fourth quarter of this year, said Pham Huy Hung, the bank's chairman, at an analysts' meeting yesterday in Ha Noi.

ADB to lend US$500 million to city�s second metro line
HCMC � The Asian Development Bank (ADB) will lend an additional US$500 million to HCMC to develop the underground section of Metro Line No. 2.

VND3 trillion to help troubled firms in city
HCMC � The central bank�s HCMC branch and Vietnam Bank for Industry and Trade (Vietinbank) are asked to allocate VND2-3 trillion for troubled companies in the city to restore their production.


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