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Vietnam Risks Biggest East Asia IMF Rescue Since 1990s
Bloomberg News on September 06, 2012 Vietnam risks becoming the biggest East Asian economy to seek an International Monetary Fund rescue loan since the region’s financial crisis more than a decade ago as it moves to support a faltering banking system. The nation may need IMF aid to recapitalize banks and must act quickly to…
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Vietnam political battles heat up as economy falters
AFP, August 26, 2012 HANOI: The arrest of one of Vietnam’s top banking tycoons reflects a wider power struggle among the Communist rulers over how to tackle the country’s deepening economic troubles, experts say. Flamboyant multi-millionaire Nguyen Duc Kien, a shareholder in some of Vietnam’s largest financial institutions and a founder of Asia Commercial Bank…
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Insight: Debt risks lurk in Vietnam’s unreformed state giants
By Stuart Grudgings HANOI | Thu Aug 23, 2012 5:37pm EDT HANOI (Reuters) – From the rural heartlands to traffic-choked cities, Vietnam Electricity Group is hard to miss. It builds apartments, runs a bank, oversees a stock brokerage, provides electrical power to millions of homes and employs 100,000 people. Today, Vietnam’s sole retail power supplier,…
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Wealthy Vietnamese Face Backlash as Economy Worsens
ASIA NEWS, Updated Updated August 23, 2012, 8:00 p.m. E.T. By JAMES HOOKWAY The arrest this week of Vietnamese banking and soccer mogul Nguyen Duc Kien comes amid a growing backlash against Vietnam’s wealthy tycoons, as the country struggles with an economy that is going from bad to worse. Some of Vietnam’s Communist leaders have…
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Vietnam arrests point to greater malaise
Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. August 24, 2012 4:53 pm By Ben Bland in Jakarta On Tuesday afternoon, 72-year-old retiree Trinh Van Yen rode his bicycle to the bank through a heavy Hanoi rainstorm. “My son just called and told me that, whatever the weather is, I…
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Vietnam Tycoon Arrest Sends Stocks Plunging as Tensions Surface
By Bloomberg News on August 21, 2012 More from Businessweek Vietnam’s arrest of a high-profile banking tycoon triggered the largest stock market drop in almost four years amid investor concern that it signaled wider vulnerabilities in the country’s financial system. Nguyen Duc Kien, who helped found Asia Commercial Bank, Vietnam’s fourth-biggest lender by market value,…
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US and EU issue joint statement on Asia-Pacific priorities
Press Releases: U.S.-EU Statement on the Asia-Pacific Region 07/12/2012 08:34 AM EDT U.S.-EU Statement on the Asia-Pacific Region Media Note Office of the Spokesperson US Department of State Washington, DC July 12, 2012 Following is the text of a joint statement issued by the United States of America and the European Union on July 12,…
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The End of the Vietnamese Miracle
So much for the next Asian success story. BY GEOFFREY CAIN |JULY 11, 2012 Foreign Policy HO CHI MINH CITY – In what was once one of Asia’s most exciting emerging markets, Nguyen Van Nguyen sees only gloom ahead. Since 2008, his business in southern Vietnam’s economic capital has suffered through two volatile bouts of…
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Anti-human trafficking coalition launches campaign to boycott “blood cashews” from Vietnam
Boycott “blood cashews” from Vietnam Press Release Contact: bpsos@bpsos.org June 13, 2012 Coalition to Abolish Modern-day Slavery in Asia (CAMSA) calls on consumers around the globe to boycott cashews exported by Vietnam because they are a product of modern-day slavery. Human Rights Watch, in its publication titled “The Rehab Archipelago,” reports that forced labor has…
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Easy Part Over for Vietnam
The Diplomat — June 10, 2012 By Bridget O’Flaherty The optimism during Vietnam’s pre-2008 economic boom is over. The Communist Party knows it must take action. But it doesn’t seem to know what. At one side of the large concrete Hoa Binh Market in Ho Chi Minh City’s District 5 sits an “illegal market,” where…
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