PRESS DIGEST - Vietnam newspapers - Aug 29

Aug 29, 2012
(Reuters)

These are some of the leading stories in the official Vietnamese press on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.
FINANCIAL NEWS:
TUOI TRE
- The central bank should cut the dong deposit cap to 8 percent from 9 percent at the beginning of the fourth quarter to boost lending as this year's inflation is estimated at 8 percent, said economist Vu Dinh Anh.

THOI BAO KINH TE VIETNAM
- Banks where stock investors have opened accounts may have to provide information on client accounts to the State Securities Commission to tighten supervision over unusual transactions, according to the commission's draft regulation.

LAO DONG
- Deutsche Bank said it had bought an additional 3.5 million shares of Viet Nam Dairy Products Joint Stock Co as of Aug. 15, raising its ownership in the firm to 30.1 million shares, or 5.42 percent.
- Five major banks including Vietcombank, VietinBank, HDBank, MHB and Sacombank would lend 95 billion dong ($4.56 million) to seven small and medium-sized firms based in Ho Chi Minh City, Sacombank said.
- The State Securities Commission will closely coordinate with authorities to timely spot and strictly deal with any stock price manipulations, said chairman Vu Bang.
- Shareholders of Saigon Beverages Joint Stock Co have approved a liquidation plan and it would buy its shares in the market at a price of 2,300 dong (11 U.S. cents) each.

DAU TU
- Saigon Hanoi Bank began operations on Tuesday as a new lender after having taken over Hanoi-based Habubank to become one of Vietnam's largest banks, with a registered capital of nearly 9 trillion dong ($432 million) and total assets of more than 120 trillion dong.

ECONOMIC AND GENERAL NEWS:
VIETNAM NEWS
- Vietnam's Song Da Group and a Vietnam-Laos joint venture will build two hydro-power plants in Laotian provinces that are near the borders of the two countries with a combined value of $406 million, officials said.
- Top fuel distributor Petrolimex will expand its operation to liquefied natural gas and petrochemical industries in addition to its current fuel import and distribution activities, the government said in the firm's approved business plan.

TUOI TRE
- Vietnam's agriculture, forestry product and seafood exports rose 9.7 percent on year in the first eight months of 2012 to $18.1 billion, the Agriculture Ministry said.
- State President Truong Tan Sang is scheduled to attend the APEC summit in Russia from Sept. 7-11, said the head of the Foreign Ministry's Multilateral Economic Cooperation Department.
THANH NIEN
- Australia has been providing training to 80 Vietnamese military officers to enable them to join United Nations peace keeping activities in future, Australian Defence Minister Stephen Smith said. The minister begins a two-day visit to Vietnam on Wednesday, the Australian Embassy said.

THOI BAO KINH TE VIETNAM
- Vietnam received 4.35 million foreign tourists in the first eight months of this year, up 9.4 percent from a year ago, said the Vietnam National Administration of Tourism.
($1=20,850 dong) (Reporting by Hanoi Newsroom; Editing by Sunil Nair)