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Day: April 17, 2024

State Bank has pumped US$24 billions into SCB

The State Bank of Vietnam–the SBV–has pumped about US$24 billion into Saigon Commercial Bank–or SCB–to keep it afloat, Reuters is reporting. SCB was at the centre of a fraud scandal worth upwards of US$12 billion. The mastermind of the fraud, Truong My Lan, has since been convicted and given a

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State Bank intends to start importing gold?

It was reported earlier this week that the State Bank of Vietnam–the SBV–intends to reinstate gold auctions, however, local media did not report where the gold was set to come from. Today VN Express reported that the SBV has asked the Ministry of Finance to smooth-out the process for importing

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Vietnam considering a monthly connection fee for electricity

The state power provider EVN wants to charge a subscription fee on top of metered electricity prices to cover the additional infrastructure costs for some customers, VN Express is reporting. Essentially, the power price is currently calculated on the volume of electricity used and by tiers–the more you use the

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