PRESS DIGEST - Vietnam newspapers - June 13
HANOI, June 13 (Reuters) - These are some of the leading stories in the official Vietnamese press on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
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FINANCIAL NEWS:
TUOI TRE
-- Deposits at Sacombank STB.HM on Wednesday increased 2 percent from the previous day, general director Tran Xuan Huy said. Many commercial banks raised their interest rates and lending rates after the central bank hike base rate to 14 percent from June 11.
-- The central bank approved partly-private Sacombank to open two branches in Laos and Cambodia. Earlier this year, the third largest bank in assets set up a representative office in Guangxi province of China.
-- Foreign investors increased buying with a volume of 1.6 million shares valued at 66 billion dong equal to 36.3 percent of the Ho Chi Minh Stock Exchange .VNI on Wednesday as the index bounced back.
-- Some automobile retailers had to re-export luxury cars due to a big drop of domestic sales and credit squeeze by banks.
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THOI BAO KINH TE VIETNAM
-- The Ho Chi Minh Stock Exchange .VNI fined six member securities companies as the representatives of these brokerages cancelled order execution during the period of continuous order-matching.
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LAO DONG
-- Condominium prices in Ho Chi Minh City have dropped 50 percent for the past few months, local real estate agencies said.
-- Foreign investors on the Ho Chi Minh Stock Exchange .VNI sold 1.3-trillion dong IN bonds during the past 4 weeks.
ECONOMIC AND GENERAL NEWS:
QUAN DOI NHAN DAN
-- The government announced two days of state funeral for former Prime Minister Vo Van Kiet on June 14 and June 15. Kiet will be buried in Ho Chi Minh City Cemetery on June 15.
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TUOI TRE
-- EVN Telecom would invest $30 million in the construction of the Trans-Asia sea optic cable system with an onshore point reaching the southern city of Vung Tau. The cable system would increase the connection capacity of Vietnam with overseas.
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Authorities in the southern provinces approved the implementation of 17 projects of sea port construction with a total registered capital of $1.48 billion by 2010 and another $2.4 billion by 2020.
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DAU TU
-- Formosa of Taiwan plans to invest $7.8 billion in a steel production facility in Vung An Economic Zone in the central province of Ha Tinh.
-- Utility group EVN warned of more outages in June due to annual repair works at some major power plants in the country's southern region.
-- The trade ministry said most of the 10,000 filling stations around the country have sufficient stockpile of fuel to meet consumption demand this month.
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