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BUSINESS IN BRIEF 19/4   2009-04-19 - VietNamNet

 
Gold prices sink on domestic, world market

 

Domestic gold prices fell by VND170,000 a tael (1.3 ounces) April 17, as global prices plunged to US$872 an ounce from $891.

The precious metal was sold around VND19.45-19.46 million per tael at Saigon Jewelry, Sacombank Jewelry, and Phu Nhuan Jewelry Company and Dong A Bank.

Domestic gold prices fetch VND700,000 a tael more than global prices.

Viettel’s high-tech centre kicked off

Vietnam Military Telecommunication Corporation (Viettel) organised a ground-breaking ceremony to build Viettel’s high-tech centre in the Hoa Lac high-tech zone.

The project aims to build a digital data centre in conformity with the international standard which can provide data to potential customers like commercial banks, economic corporations, Government’s agencies…The total investment capital of the project is around VND 500 billion (without equipment expenditure).

The first phrase of the project is implemented by constructing a 25-floor building with an area of 2,207m2 on a total area of 37,880m2.

Steel prices rise slightly

 

Steel producers have increased their prices by VND100,000-150,000 a ton since April 11, said wholesalers and traders.

Steel rolls were sold for around VND9.7-9.85 million a ton and steel rods at VND10.50 million a ton.

Deputy chairman of Vietnam Steel Association, Nguyen Tien Nghi, said domestic steel prices were increased because the world price for steel ingots has risen to US$420 a ton, up from $360 March 21, while the price of steel ingots from Russia and Ukraine last month was fetching $300 a ton.

Some experts said the increase of import tariffs on steel ingots to eight percent, from five percent, and the injection of money into key projects helped increase domestic prices.

Catfish prices recover sharply

 

Catfish prices have rebounded to record levels in the Mekong Delta after shrugging off last year’s demand crisis.

Top quality fish now fetches VND17,000 a kilogram and second grade stuff VND16,000-16,200. At these prices farmers are expected to make a profit of VND1,000-2,000 a kilogram.

The Mekong Delta Seafood Association said the prices have recovered because production has fallen sharply since many farmers are in debt or broke, while demand is on the rise.



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