PRESS DIGEST - Vietnam newspapers - July 17
HANOI, July 17 (Reuters) - These are some of the leading stories in the official Vietnamese press on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.
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FINANCIAL NEWS:
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THOI BAO KINH TE VIETNAM
-- The State Bank has asked banks to provide foreign currency loans to the Vietnam Garment and Textile Group as the group was facing a shortage of foreign currency.
-- Partly private Dong A Bank was granted approval by the State Securities Commission to issue 24 million bonus shares to its existing shareholders.
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THANH NIEN
-- The State Bank of Vietnam has asked Saigon Thuong Tin Commercial Joint Stock Bank STB.HM to dismiss the director of a transaction office in Ho Chi Minh City for offering loans at a rate of 23.04 percent, higher than the ceiling rate of 21 percent per year.
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ECONOMIC AND GENERAL NEWS:
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HANOI MOI
-- Car sales are expected to remain slow this year due to higher taxes and more difficult access to bank loans after banks tightened consumer finance credit.
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SAIGON GIAI PHONG
-- Power outages would continue until the end of August when new power plants are put into operation, utility group EVN said.
-- About 500 workers at Bach Tuyen Cotton Company BBT.HM threatened to go on a strike to protest a decision by shareholders to cancel a plan to issue new shares to raise the company's working capital.
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TUOI TRE
-- The State Bank of Vietnam's branch in Ho Chi Minh City has asked partly private Techcombank to demote the director of Techcombank's branch in the city and two other staff for overcharging interest on dong borrowers.
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THANH NIEN
-- The policy of Vietnam's press law, which is being drafted, is not to allow private media, Deputy Minister of Information and Communications Do Quy Doan said.
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THOI BAO KINH TE VIETNAM
-- Vietnam's textiles sector faces a tough target to earn $5.3 billion in export revenues during the second half of this year in order to reach the annual target of $9.5 billion, given first-half earnings only rose 20.5 percent from the same period last year to $4.2 billion, the Industry and Trade Ministry said.
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