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Vietnamese inflation lowest in eight months HANOI: Vietnamese inflation slowed to its weakest pace in eight months in May, official data showed Friday, in the latest sign that the communist-run economy is cooling.Consumer prices rose 6.36 percent year-on-year in May, the Government Statistics Office said, slightly down from a 6.61 percent increase reported in April.Economists attribute the slowdown in inflation to past monetary policy tightening and an easing of demand from domestic consumers.Communist Vietnam is struggling with a host of economic woes, including slow Gross Domestic Product growth, sluggish domestic demand, a banking sector weighed down with high levels of toxic debt and record numbers of bankruptcies."There is a big risk of inflation pressure and unstable macro-economic developments," the government said Monday, in a report to the country's National Assembly."Bad debts... remain at a high level, while it is difficult for enterprises to obtain loans," the report added.In 2011, Vietnam repeatedly raised interest rates to prevent ...

Three Chinese ships in disputed waters: Japan TOKYO: Three Chinese government ships sailed in waters around disputed islands controlled by Tokyo for about nine hours on Thursday, Japan's coastguard said.The Chinese maritime surveillance vessels were spotted in the 12-nautical-mile zone off the Senkaku islands, which China calls the Diaoyus, in the East China Sea shortly before 9:30 am (0030 GMT), the coastguard said.They left the zone at around 6:30 pm, it said later.It was the latest in a long line of stand-offs ...
Japan man, 80, scales Everest, sets record KATHMANDU: An 80-year-old Japanese climber reached the summit of Mount Everest on Thursday, becoming the oldest person to scale the world's highest mountain, his website and a Nepalese official said.Yuichiro Miura and his party arrived at the summit at around 9am (0315 GMT), according to the website."I feel like the happiest person in the world. How could I have come so far at the world's oldest age of 80," Miura said. "I have never felt ...
South Korea, Japan, US defence chiefs to meet SEOUL: The defence chiefs of South Korea, Japan and the United States will hold their first trilateral meeting for four years at the end of this month, with North Korea likely to top the agenda.The three top officials will meet on the sidelines of the annual Asia Security Summit to be held in Singapore from May 31 to June 2, a South Korean defence ministry spokesman said Wednesday.It will be their first three-way ministerial-level meeting ...
Chinese businessman pays record price for Belgian racing pigeon BRUSSELS: A Chinese businessman has paid a world record 310,000 euros ($398,500) for a Belgian pigeon, highlighting Asia's huge and growing interest in racing birds.The one-year-old award-winning pigeon named Bolt was bred by Belgian pigeon fancier Leo Heremans, a well-known name to pigeon enthusiasts, who sold his entire collection of 530 birds for 4.3 million euros at an auction over the weekend."You can compare it to artwork. A painting made by Picasso is worth more ...
Vietnam gives green light for bad debt bank HANOI: Vietnam's government approved on Tuesday the formation of an asset management firm to buy bad debt from its troubled banks, an official said, a move that could help stimulate an ailing economy growing at its slowest pace in 13 years.The long-delayed "bad debt bank", the Vietnam Asset Management Corp (VAMC), would be run by the State Bank of Vietnam (SBV) and is tasked with trimming down what is widely seen as Asia's highest ratio ...
Indonesia names new finance minister JAKARTA: Indonesian President Susilo Bambang Yudhoyono Monday named the country's investment chief as the new finance minister, putting him in charge of Southeast Asia's top economy at a time of major challenges.Chatib Basri, who is taking on the role ahead of elections in 2014, replaces Hatta Rajasa, who was stand-in finance minister for a few weeks after the previous incumbent left amid growing complaints about his reformist agenda.The 47-year-old takes up the job as economic ...

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln