PRESS DIGEST - Vietnam newspapers - May 19

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Mon May 18, 2009 10:17pm EDT


HANOI, May 19 (Reuters) - These are some of the leading stories in the official Vietnamese press on Tuesday. Reuters has not verified these stories.

FINANCIAL NEWS:

LAO DONG

-- The value of dollars bought by Vietinbank has dropped significantly since the start of this year, and the bank's export payment value represented one-fourth the value of import payments, Deputy Chief Executive Bui Nhu Y said.

TUOI TRE

-- State oil group Petrovietnam's subsidiary PVTex started construction of a $325 million polyester plant on Monday. The plant is scheduled to operate with full production capacity of 500 tonnes of polyester per day in 2011.

-- Demand for physical gold has weakened due to record high prices of about 20.17 million dong ($1,134) per tael, gold dealers said.

THOI BAO KINH TE VIETNAM

-- Asia Commercial Bank ACB.HN had earned 665 billion dong ($37.4 million) in gross profit as of May 14, or 24 percent of its annual target, Chief Executive Ly Xuan Hai said.

THANH NIEN

-- The State Securities Commission has asked stock brokerages to report their repo contracts to prevent potential risks from the service, which has been resumed following recent stock rallies.

ECONOMIC AND GENERAL NEWS:

HANOI MOI

-- At least three people were killed in floods brought by torrential rains that hit several northern provinces.

SAIGON GIAI PHONG

-- Prime Minister Nguyen Tan Dung is scheduled to visit Japan to attend the Asia Future Conference in Tokyo between May 21-23. (Reporting by Hanoi Newsroom)





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