IMF builds new mechanism to curb financial crisis

The International Monetary Fund is building a new credit mechanism for use in case of a global financial crisis, IMF deputy managing director Naoyuki Shinohara said on March 12.

The G-20, which groups the world’s leading developed and developing economies, pledged to triple IMF capacity of lending to 750 billion USD to help the institution supply financial sources to the global economy if another economic or financial crisis occurs.

Water supply to be improved

The Vietnam Water Supply and Sewerage Association (VWSA) on March 9 held its 6th Steering Committee Meeting in the southern province of Binh Duong to map out measures to reduce water prices and improve water resources.

Tenants protected by new regulation

Tenants in Ho Chi Minh City can register for electricity supply independent of their landlords under a new regulation passed by the city to safeguard lessees from being gouged by house owners.

Vietnam expands power investment in Laos

Vietnam and Laos have agreed to jointly conduct a feasibility study on construction of the Nammo hydropower plant, a critical project to ensure local supply and energy export to Vietnam.

Loans help residents connect to water mains

More than 2,000 of the 2,300 households in Yen Phong commune in northern Ninh Binh province now have access to potable water thanks to loans provided by the Bank for Social Polices, according to Pham Quoc Tuan, vice chairman of the commune People’s Committee.

Finnish woman committed to Vietnam

When being in a strange place halfway around the world from home, feeling the icy coldness of a heavily snowy day when temperature falls 30-40 degrees Celsius below zero, hearing a strange voice in your own language is just enough to warm you up.

ANZ outlines new strategy in regional countries

The Australia and New Zealand Banking Group (ANZ) on March 2 announced a new strategy to become the leading foreign bank in the Greater Mekong Sub-region (GMS) countries of Vietnam , Cambodia and Laos .

State bank removes lending cap

The State Bank of Vietnam has removed the interest-rate cap on medium- to long-term loans, a move expected to end a two-year struggle by banks to maintain liquidity.

Northern provinces need 2 billion fish

The northern provinces need about 2 billion fish of various types for aquaculture cultivation this year, but they are facing a shortage of supply because of cold weather.

Demand for urban retail space likely to skyrocket

Demand for retail space in Vietnam's large cities is expected to soar in 2010 after the country officially opened the door to international retailers and agreed to abide by WTO commitments.

More international retailers, brands and franchises would be present in Vietnam this year, said CB Richard Ellis Co Vietnam (CBRE), a real estate consulting firm. In recent months, international brands have scrambled to secure scarce retail space in downtown commercial centres while restaurant chains are being opened on major streets nationwide.

Labour market continues to recover

The online job market continued to recover with the rise in labour demand indexes in the fourth quarter of 2009, according to Vietnam’s largest online job services website’s report said that the online labour demand index in the fourth quarter of 2009 rose by 5.2 percent against the previous period. Retail sales, accounting/finance, administrative/secretarial, information technology-software and marketing had the highest demand for employees, said the report.

City sags, Hanoi rebounds

The HCM Stock Exchange on February 24 saw increased trading, but the VN-Index nevertheless slid by another 0.34 percent to a close of 494.59 points, with over 60 percent of codes losing value over the course of the session. Meanwhile, shares rebounded on the Hanoi market.

Devalued dong stabilizes forex market

The State bank of Vietnam’s surprise move in the final days before the Tet (lunar New Year) holidays to devalue the dong by another 3.3 percent has had a positive effect in narrowing the gap between official and black market exchange rates.