PRESS DIGEST - Vietnam newspapers - Oct 10
HANOI, Oct 10 (Reuters) - These are some of the leading stories in the official Vietnamese press on Friday. Reuters has not verified these stories.
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FINANCIAL NEWS:
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TUOI TRE
-- Asia Commercial Bank ACB.HN said it set aside 1 trillion dong ($61 million) for long-term loans. The bank could provide a 10-year loan to small-and-medium-sized businesses to develop production and mortgages to home buyers.
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THOI BAO KINH TE VIETNAM
-- Partly private VPBank said on Friday it has sold more than 11 million additional shares to Singapore's Oversea-Chinese Banking Corp (OCBC.SI), raising Singapore bank's total stake in VPBank to 14.88 percent from 9.88 percent.
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THANH NIEN
-- VPBank would officially sign a decision to deeply cut deposit interests on Friday and the new interest rates would be lower than that proposed by the Vietnam Banks Association, said Chief Executive Le Dac Son.
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DAU TU CHUNG KHOAN
-- Japan's SBI Holdings Inc has acquired an 8.17 percent stake in FPT capital, a fund management company controlled by FPT Corp FPT.HM.
-- Eighty percent of foreign funds in Vietnam are closed-end funds dedicated to investment in the country's stock markets, said Andy Ho, Managing Director of fund management firm VinaCapital.
-- Hoa Sen Group, a steel sheet manufacturer, is expected to list and trade shares on the Ho Chi Minh Stock Exchange .VNI from Dec. 5 under the code of HSG.
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ECONOMIC AND GENERAL NEWS:
VIETNAM NEWS
-- Central bank governor Nguyen Van Giau urged commercial banks to closely monitor the global financial crisis to control risk.
-- Foreign equity investors have been net sellers this month but that does not mean they are divesting Vietnamese stocks, Ho Chi Minh Stock Exchange Chief Executive Tran Dac Sinh said.
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SAIGON GIAI PHONG
-- Domestic dairy companies have resumed buying milk from farmers after slower purchases following the tainted milk scandal in China.
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TUOI TRE
-- The Health Ministry has asked the government to instruct the Ministry of Natural Resources and Environment to destroy 700 tonnes of milk containing melamine and which have unknown origin and been seized recently.
-- Japan's JFE Holdings Inc (5411.T), the world's third largest steel maker, has proposed to build a $4 billion steel complex in the central province of Quang Ngai to produce 5 million tonnes of products a year, Vietnam Steel Association Chairman Pham Chi Cuong said.
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THANH NIEN
-- Mekong Delta's seasonal floods have passed their peak and are expected to recede between now and November, forecasters said.
- - - - (Reporting by Hanoi Newsroom)
