PRESS DIGEST - Vietnam newspapers - May 21

Tue May 20, 2008 10:38pm EDT


HANOI, May 21 (Reuters) - These are some of the leading stories in the official Vietnamese press on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

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FINANCIAL NEWS:

TUOI TRE

-- The Finance Ministry has abolished the import tariff on clinker, from 10 percent previously.

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THOI BAO KINH TE VIETNAM

-- The central bank has allowed Hanoi-based Techcombank to raise 5 trillion dong ($312 million) via the issue of bonds within 2008.

-- Military Bank has projected its total assets this year to grow 52 percent from 2007 and its gross profit to rise 21 percent to 735 billion dong ($45.8 million). The bank planned to maintain the overdue debt this year at less than 2 percent of loans and boost its registered capital to 3.4 trillion dong.

-- The information technology and telecom investment fund of VinaCapital signed a strategic agreement with MobizCom to own 30 percent in the latter firm, which provides security measures for transactions on mobile phones.

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ECONOMIC AND GENERAL NEWS:

NHAN DAN

-- State-run Vietinbank signed an agreement with Vietnam Expressway Corporation on the establishment of joint ventures, fund contribution and management and mutual support.

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QUAN DOI NHAN DAN

-- Bird flu virus has been spreading wide in the environment, following scattered outbreaks in poultry in the southern region, according to the national steering committee for bird flu prevention.

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SAIGON GIAI PHONG

-- The British government has announced it would grant Vietnam around $100 million in non-refundable aid each year between now and 2011 to help the country ensure strong economic growth and boost governance.

-- A venture between Vien Dong Co and U.S. firm Semtech Ltd B.V.I has won a licence to build a $538-million oil refinery in the southern city of Can Tho. The plant has an annual capacity of refining 2 million tonnes of crude, or 40,200 barrels per day.

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LAO DONG

-- Speculation of essential commodities would be severely punished, Prime Minister Nguyen Tan Dung said in a document sent to the Industry and Trade Ministry concerning measures against the shortages of cement, steel and fertiliser.

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THOI BAO KINH TE VIETNAM

-- Retail prices of husked rice in the Mekong Delta have fallen around 5 percent from last week to 9,300 dong to 10,000 dong (58-62 U.S. cents) per kg this week and which are expected to further drop in the next days as trading houses have slowed their purchase on shortage of funds.

- - - - (Reporting by Hanoi Newsroom)



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