PRESS DIGEST - Vietnam newspapers - July 22
HANOI, July 22 (Reuters) - These are some of the leading stories in the official Vietnamese press on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
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FINANCIAL NEWS:
TUOI TRE
-- Gold prices surged 290,000 dong ($17.5) to about 19.23 million dong ($1,165) per tael while the dollar on the free market also jumped to around 17,000 dong following the increase in retail petrol prices on Monday.
-- The State Bank of Vietnam has urged people to avoid buying and hoarding foreign currencies.
-- The government said it would provide more financial support to fishermen after Monday's petrol price hike.
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THOI BAO KINH TE VIETNAM
-- International Finance Corp, a large shareholder of Asia Commercial Bank ACB.HN, agreed to sell more than 16 million shares in the bank a price of 140,000 dong per share to Standard Chartered Plc (STAN.L).
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ECONOMIC AND GENERAL NEWS:
NHAN DAN
-- Deputy Prime Minister Hoang Trung Hai urged property developers to increase supply of homes to the market to fill a shortage expected in the next few years.
-- Vietnamese businesses have received licences to invest up to $1.07 billion in 109 projects in Laos, the government said.
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LAO DONG
-- The government will consider building crude oil and refined product reserve depots around the country as part of efforts to stabilise fuel prices, Industry and Trade Minister Vu Huy Hoang said.
-- Oil product importers could enjoy a profit of up to 600 dong per litre of petrol if world crude price stayed at the current level of $128 per barrel, Saigon Petro General Director Dang Vinh Sang said.
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THANH NIEN
-- A 30-year-old Vietnamese man who received the death sentence twice on false charge of drugs trafficking and then had the verdict cancelled by the court in the southern province of Tay Ninh has sought compensation and a public apology by the court.
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THOI BAO KINH TE VIETNAM
-- The petrol price hike on Monday would boost the country's consumer price index by 0.5-0.7 percentage point, the Finance Ministry said.
-- Foster Wheeler Energy (FWLT.O) has signed a contract to design Vietnam's $6 billion Nghi Son oil refinery within 16 months starting from July 18. The refinery has a capacity of 200,000 barrels per day, the country's largest.
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