VietNamNet Bridge – The State Bank of Vietnam puts high hopes on the one percent depreciation of the local currency it made in late June. However, economists believe that one should not be too optimistic about the move.
Gold fell for a second day to trim the first weekly advance in three before U.S. jobs data that may add to signs the economy is improving, fueling speculation the Federal Reserve will scale back monetary stimulus.
Vietnam’s economic growth accelerated in the second quarter after the central bank cut interest rates to revive lending to businesses and rising foreign investment boosted the nation’s exports.
With gross domestic product (GDP) growing 4.9% and inflation picking up 2.4% against end-2012, the socioeconomic situation in the year’s first half was relatively good, said Do Thuc, director general of the General Statistics Office (GSO).
HA NOI (VNS)— The export tax on coal will rise by 3 per cent to reach 13 per cent from July 7, prompting Vinacomin to cut its shipments by more than half to between 400,000-500,000 tonnes a month.