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Stock market to jump up in first half of 2011, experts predict

In Uncategorized on January 8, 2011 at 4:26 am

Vietnam’s stock market will roar back in the first half of the year on the US’s bullish market, financial experts expect.

(Photo:Minh Tri)

The stock market in Vietnam last year were effected by many macroeconomic factors, while nearby markets including Singapore, Indonesia and Thailand were boosted by the US’s financial bailouts, said M.A. Le Dat Chi, head of the financial investment faculty of the University of Economics Ho Chi Minh City.

“A part of the US$600 billion bailout of the US flew into Asian markets, especially emerging ones. It was just a small proportion for the US market, but it did make big impact to emerging markets, except of Vietnam,” Tri said.

Only investors holding control stake in listed enterprises made profits from dividends as the VN-Index dropped to 430 points in the last quarter of last year, with many shares slumping to incredible levels, he said.

“Vietnam’s stock market is at the bottom, with the ratio of dividends per share equal to 15 percent. This rate is extremely attractive to some investment funds,” the economist said.

“Besides, investors’ confidence in a successful Eleventh Party Congress with new members elected into the central committee will boost the market sentiment. Foreign investments will flow stronger into the stock market, which hit the bottom. Therefore, the market will likely to roar back in 2011.”

Statistics showed nearly the foreign indirect investments (FII) pour into the stock market last year reached $1 billion. Stabilizing the foreign exchange rate should be the top priority this year to attract more FII, Tri noticed.

The financial expert also recommended that more adequate taxes on shares will attract more foreign investors.

“Instead of asking foreigners either to pay security before entering the market or not to sell shares in at least one year, we can impose taxes on the dividend from their share investments,” he suggested

Stock market analysts also predict the market will likely to recover strongly in the first half of the year on the increase of the US market.

“The US dollar getting weaker in the first half of 2011 will be good news for the country’s stock market. However, it will be stronger again in the last half. The market’s winning run will likely to last until June, with Dow Jones Index climbing 12,600 points,”  Tri said.

Statistics showed the stock market usually climbs up in March, April and December every year.

However, the market is still carrying some risks including the US dollar getting stronger constantly, warned Pham Xuan Anh, deputy head of the brokerage BIDV-BSC’s market analysis unit.

“Standard Chartered Bank expected the foreign exchange of Vietnam dong and dollar will reach VND20,800 per dollar at the end of the year, a year-on-year increase of around 6.6 percent,” said Tri.

“The Asia Development Bank last September predicted Vietnam’s inflation in 2010 would rise to 7.5 percent, caused by a weakening dong and an increase in food prices.”

Low foreign currency reserve and large amounts of dollar and gold owned by residents would put the central bank in difficult time, Tri added.

Source: SGGP

Nissan recalls more than half a million vehicles in Americas

In Uncategorized on November 12, 2010 at 5:24 am

Nha Trang hosts International Half Marathon Races 2010

In Uncategorized on October 24, 2010 at 7:53 pm

Nha Trang hosts International Half Marathon Races 2010

QĐND – Sunday, October 24, 2010, 20:1 (GMT+7)

The second international half marathon competition was held in Nha Trang city on October 24 as part of “Japan Culture Days in Nha Trang-Khanh Hoa”.

More than 230 athletes from Vietnam, Japan and other countries around the world took part in the event and competed in the women’s and men’s 5km, 10km and 21km events. A delegation from Khanh Hoa province took the lead in all the events.

This year’s competition strengthened fine relations between Vietnam and Japan and offered a good opportunity to promote Nha Thang –Khanh Hoa to international friends.

The event was co-organised by the Japanese General Consulate in HCM City and the central province of Khanh Hoa.

Source: VOV

Source: QDND

Half of 12-yr-olds have tooth decay

In Uncategorized on October 1, 2008 at 1:42 pm

HCM City (VNA) – Up to 50 percent of 12-year-old students in Ho Chi Minh City suffer from tooth decay, according to a recent report by the city’s Dental Hospital .

The Department of Preventive Health under the Ministry of Health has also reported that more than 80 percent of primary school students nationwide suffer from gum disease and tooth decay.

The shocking figures were attributed to a lack of awareness about dental care, and a high consumption of sweets, as more urban children experienced dental problems than rural ones, even though city kids reportedly took better care of their teeth.

According to the hospital, a lack of dental care centres in schools has added to the problem. One hundred and eighty five institutions, or less than 50 percent of the city’s total, report they have dental care centres, but many have stopped operation due to lack of staff and poor pay.

Doctor Le Dong Khanh, deputy chairman of the national school-based dental care plan said Vietnam did not have a long-term programme for dental care in schools.

Other experts say that the country has one of the world’s highest instances of tooth decay among children.

Khanh said many studies have found that the rate of tooth decay and gum disease has fallen in places with good dental programmes after six years of implementation.

From 2006-2010, the national school-based dental care plan aims to set up 200 to 300 dental care clinics each year with staff and facilities for 400,000 to 600,000 students. As the result, from 3-5 million students, or 70 percent of children nationwide, should benefit.

Up to now, the programme has been unable to instill an understanding of the importance of dental care and many existing centres are lacking facilities, said Khanh. In addition, parents need to take more responsibility in educating their children, especially young children, about dental care.

Many parents were found to regularly neglect personal oral hygiene, making it even more challenging to teach the practice to children.

Khanh said schools, parents and doctors needed to cooperate on this issue.

While waiting for the national programme on dental care to take effect, Protect Vietnamese Smiles (PVS) has checked and treated around 3 million children of primary and kindergarten ages and educated them on oral hygiene while distributing free dental care products. In the last 0 years, PVS has contributed 100 billion VND (5.8 million USD) to dental care.-

Saigontel profits up over 85 percent for year’s half

In Uncategorized on August 5, 2008 at 2:01 pm

Saigon Technology and Telecom JSC( Saigontel) earned revenue of 677.14 billion VND (41 million USD) in the first half of the year, 86.5 percent more than the same period last year.

Post-tax profits totalled 100.88 billion VND, an increase of 96 percent.

This year, the company has set revenue targets at 1.2 trillion VND and post-tax profit at 225 billion VND.-