Monday, 23. March 2009, 10:16:48
Raw News
State Bank of Vietnam announced today to increase variation range of VND to USD. The inter-banks trading band is increased from ± 3% to ± 5%, effective from March 24.
New trading band will pave the way for more flexible transaction. Pic: Foreign exchange agent in Hanoi, also known as free market. "The decision will help the exchange rate variation to be more flexible, and moving closer to the demand and supplies of foreign currencies in the market", said in a release by SBV.
State bank also said Vietnamese macro-economic had positive signals in the first quarter of 2009, showed in lower inflation rate and trade surplus. But SBV widen the trading band to increase the ability of adjustment of the economy.
SBV warns organisations and all financial institutions from trading VND/ USD over the allowed trading band of 5%./.
Thursday, 19. March 2009, 11:07:43
Raw News
The 3 years old boy Tran Cong P. died in Tropical Hospital of Ho Chi Minh city this afternoon after 3 days of treatment.
Tran Cong P was hospitalized on Mar 16 with symptoms such as high fever, severe respiration problems. Doctors tests show his result positive with deathly virus strain H5N1.
The victim is from Dong Thap province in Mekong delta. Previously, he was brought to provincial hospital on Mar 13 with high temperature record.
Investigation showed P ate chicken at home on Mar 12. "His father cooked the death chicken", Tien Phong newspaper quoted Deputy Director of Agriculture and rural development in Dong Thap province as saying.
Tran Cong P is the third victim of bird flu in Vietnam this year, and the first fatal case from the South of Vietnam. P is the 55 fatal case among bird-flu patient in Vietnam up to date./.
Thursday, 19. March 2009, 09:48:44
Raw News
Joint Stock Commercial Bank for Foreign Trade of Vietnam - Vietcombank is allowed to issued long term bond in 2009. State Bank of Vietnam announced the decision today.
According to the decision by Governor of SBV dated Mar 18, Vietcombank is entitled to issue total bonds in local currency up to VND 10,000 billion in value equivalent (USD 588.9 mln).
There is no specific term for those bonds, but Vietcombank will manage interest rate in accordance with the Central bank's regulation on basic interest rate.
Vietcombank is also requested to use those capital effectively and safety according to Central bank Governor requirements, said in an announcement by SBV./.
Friday, 6. March 2009, 10:11:06
Raw News
First Pilot training school opened in Vietnam. VFT Viet Flight Training Joint Stock Company launched first ever training school for pilots Mar 05 in Ho Chi Minh city. Training school capacity is 100 pilots per year.
Before, all Vietnamese pilots were sent abroad for training, mainly in Australia and France. In the recent years, with establishment of new airlines in Vietnam like Indochina Air, Vietjet Air and Mekong Air, demand for pilots in Vietnam increased accordingly, but supplies never meet.
Currently, airlines in Vietnam must rent foreign pilots for their operation. Cost for rental is estimated tens of million USD per year. The first course by VFT recruited 15 trainees, who will be trained for 22 months.
After graduation, qualified students will have chance to work for airlines in Vietnam and those in the region.
Currently, the 3 main share holders of Viet Flight Training Joint Stock Company are: Vietnam Airlines (largest holder of 26%), Service Flight Corporation of Vietnam - SFC and Vietnam Aircaft Leasing Company - VALC.
Vietnam Airlines, the national flag carrier has to hire almost 150 foreign pilot, and sending abroad for training from 60 to 80 pilots, other airlines has to rent almost 100% foreign pilots.
Meanwhile, the low cost airlines Jet Star Pacific hiring a crew of 64 pilot, with only 1 of them is Vietnamese.
Viet Flight Training target to build up a national training centre for professional pilots in Vietnam, and to ensure high quality of graduates to meet up with international standard.
The setting up of Viet Flight Training is financially supported by Airbus Manufacturer. The sum of Euro 850,000 is committed in an agreement signed after the school opening on Mar 05./.
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