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Japanese businesses flock to booming Viet Nam
02/05/2007 -- 5:46 PM
Tokyo (VNA) – The “Japan Times” on May 2 reported that Japanese companies are heavily investing in Viet Nam as a hedge against over reliance on Chinese investments, widely known as the China-plus-one strategy.
“Many Japanese companies are beginning to shift their production from China to Viet Nam based on the China-plus-one policy to diversify their investments and reduce their dependence on China,” the paper said.
Viet Nam, fuelled by the latest investment boom, is one of the world's fastest-growing economies. The country, which joined the World Trade Organisation in January 2007, has also achieved remarkable economic growth in recent years. In 2006, Viet Nam's economy grew by 8.2 percent and growth is projected at 8.3 percent for 2007, according to the paper.
The paper quoted figures released by the Japan External Trade Organisation (JETRO) as saying that Viet Nam attracted 9.22 billion USD in foreign investment for 2006, more than doubling the previous year’s figure.
According to the paper, preparations for its entry into the WTO accelerated the Vietnamese government's efforts to liberalise trade and facilitate foreign investment. The country's proximity to China and to fellow members of the Association of Southeast Asian Nations (ASEAN) also make it an attractive base for exporting to these markets, but the paper pointed to the country's skilled low cost labour force as a primary reason for continued investment by Japanese firms in the South East Asian nation.
A recent survey conducted by JETRO in November 2006 found that monthly salaries for workers ranged from 87 to 198 USD in Ha Noi and 122 to 216 USD in Ho Chi Minh City, as compared with 164 USD in Thailand and 134-446 USD in China's Guangzhou.
Takashi Kadokura, President of the Brazil, Russia, India and China Research Institute, was quoted as saying that while Viet Nam is still largely regarded as a manufacturing base, the country is beginning to attract attention as a huge potential market in its own right.
According to Kadokura, the potential of the market for consumer products such as cars, refrigerators and washing machines is huge, as only 15 percent of the population currently own them. -Enditem
Well's Fargo info on buy backs.
Well's Fargo will buy back any currency that they sell. My last conversatoin with them was April 30th, 2007.
The sell price for the DONG was 72.88 per mill.
Buy back for DONG was 55.98.
1-800-678-4652
Trav.
Maybe next week......ummmm or the week after...??? lol.
Trav.
I dont even feel like going to bed. This thing could pop any minute and Ive got allot of coffee in the fridge downstairs here just waiting to be brewed. Not to mention 3 or 4 pounds of M&M's to stack on. YAHHOOOOOOOOOOIEEEEEEEEEEEEEEEE.
Save your post Bro, the day aint really started yet, and Im sure some other news will come out.
Have a grat day Bro, and a SAFE ONE .
Trav.
Never mind, I'll go to bed. lol.
Iraq’s hopes for progress could be sacrificed
By Steve Negus, Roula Khalaf & Heba Saleh
Iraq/London/Cairo, 02 May 2007 (Financial Times)
Print article Send to friend
When Iraq’s government sits down on Thursday with its neighbours and world powers, it hopes a two-day summit dedicated to stabilisation and reconstruction will offer a chance of real progress.
However, the continued dissatisfaction among Sunni Arab countries with Iraq’s Shia-led government as well as heightened tensions between the US and Iran might limit what can be achieved in the Egyptian resort of Sharm el-Sheikh.
The conference brings together two diplomatic processes – a series of meetings between Iraq’s neighbours aimed at stabilising the country, and the United Nations-sponsored International Compact with Iraq which sees Baghdad commit to administrative and political reforms in exchange for assistance.
Baghdad has an uneasy relationship with most of its neighbours. Iran and Syria have been accused of supporting militants in Iraq, and some politicians say Sunni states such as Saudi Arabia and Jordan are hostile to the very idea that the Shia majority should rule the country. Yet Nouri al-Maliki, the prime minister, hopes the conference will lead to commitments by neighbours not to support militants and obtain help from the Sunni states in reaching an accommodation with Sunni insurgents. It also hopes to end what it considers the settling of scores between Iran and the US on Iraqi territory.
“For us to succeed . . . we need a conducive, supportive regional environment. The only way to achieve that is through . . . asking the US, Syria and Iran to keep away from settling their scores in Iraq,” Hoshyar Zebari, Iraqi foreign minister, told the Financial Times. “This has been affecting the security situation badly.”
Most delegations will be headed by foreign ministers and the planned attendance of both Condoleezza Rice, the US secretary of state, and Manouchehr Mottaki, her Iranian counterpart, has led to speculation that the two might meet.
The previous neighbours’ conference in Baghdad in March saw Iraq’s relations with its allies upstaged by US-Iran tensions about Tehran’s nuclear programme and the fate of five Iranians detained by the US in northern Iraq. These threaten to overshadow events again.
Gholamhossein Elham, the Iranian government spokesman, said there would be no US-Iranian talks. However, Iraqi officials still expect US and Iranian diplomats to meet on the sidelines and say they will push for the release of the so-called “Arbil five”. Mr Zebari said the US had agreed to grant the detainees family visits.
“There has been a little bit of improvement on all [regional] issues. It’s not up to our expectations but overall the political atmosphere has improved,” he said.
Iraqi officials say the conference will also witness the formal inauguration of the International Compact for Iraq, in which Baghdad will present a timetable of reform commitments that it hopes will lead to pledges of aid.
Barham Saleh, Iraq’s deputy prime minister, said: “The compact document includes a detailed annexe specifying benchmarks of economic and political reforms with timelines, and spanning four to five years.”
Among the most significant of such pledges would be declarations by Arab Gulf states such as Saudi Arabia and Kuwait, to whom Iraq is estimated to owe at least $15bn (£7.5bn) each, that they would match the Paris Club of creditor nations in writing off 80 per cent of Baghdad’s debt.
Saudi Arabia’s foreign minister said two weeks ago that the kingdom would forgive 80 per cent of the debt, but little has been heard of the deal since and one analyst familiar with Saudi government thinking said that debt relief was an “ongoing issue [which] is still not settled”.
Wednesday, May 2, 2007
1 Iraqi Dinar = 0.0008280 US Dollar
1 US Dollar (USD) = 1207.70 Iraqi Dinar (IQD)
Learn about the new Iraqi Dinar
Median price = 0.0007548 / 0.0008280 (bid/ask)
Minimum price = 0.0007542 / 0.0008274
Maximum price = 0.0007548 / 0.0008280
FXTrade: Online Currency Trading with OANDA FXTrade.
FXConverter - Currency Converter for 164 Currencies164 Currency Converter © 1997-2007 by OANDA.com.
Wednesday, May 2, 2007
1 Iraqi Dinar = 0.0006072 Euro
1 Euro (EUR) = 1647.04 Iraqi Dinar (IQD)
Learn about the new Iraqi Dinar
Median price = 0.0005534 / 0.0006072 (bid/ask)
Estimated price based on daily US dollar rates.
FXTrade: Online Currency Trading with OANDA FXTrade.
FXConverter - Currency Converter for 164 Currencies164 Currency Converter © 1997-2007 by OANDA.com.
Posting from http://www.ameinfo.com/currency as CBI is still down as far as I can see.
Trav.
Wednesday, May 2, 2007
1 Iranian Rial = 0.0001125 US Dollar
1 US Dollar (USD) = 8889.40 Iranian Rial (IRR)
Median price = 0.0001039 / 0.0001125 (bid/ask)
Minimum price = 0.0001039 / 0.0001125
Maximum price = 0.0001039 / 0.0001125
Thats a pretty big spread. And Ali said that he would beat anyones "Advertised Price", so I just might be calling him on Thursday for some Demons.
Trav.
Ahhh, maybe he'll beat the Dong price at Well's now. Dont know, but worth a try.
Two more banks leave Iran
Iran: Thursday, April 26 - 2007 at 13:13
Two more international banks have said they are closing down operations in Iran in compliance with UN sanctions, the Iran Daily reported. Singapore's CBS has given its Iranian clients ten days to withdraw their deposits and close accounts; and Vienna-based Bawag has also stopped doing business with the Islamic republic.
Wednesday, May 2, 2007
1 Vietnamese Dong = 0.00006234 US Dollar
1 US Dollar (USD) = 16'040.0 Vietnamese Dong (VND)
Median price = 0.00006231 / 0.00006234 (bid/ask)
Minimum price = 0.00006231 / 0.00006234
Maximum price = 0.00006231 / 0.00006234
I think were the only ones still up....
LETS PILLAGE EVERYONES BOOTY.......AAARRRRRRRGGGGGGG.
SHIVER THERE DONG!!!
LMAO.
Trav.
Bush vetoes Iraq spending bill over timelines
http://www.msnbc.msn.com/id/18412464/
I received a few cards in the mail from Ali today. "DinarTrade will beat any dealer's advertised price" is written on them.
www.dinartrade.com
1-877-770-7660 or 661-472-8510
Trav.
3.32 for the cheap stuff here.
lol, I never should have sold my GEO Metro years ago. LMAO.
Trav.
Nice work pk.
Two thumbs up.
Trav.
"He pointed out that the plans of the ministry absorbed all future programs in the budget for this year in order to stimulate the Iraqi economy properly."
For a stable growth? Or a big leap? Interesting to say the least.
Thanks for the info Bud.
Trav.
ARGGGG we cant pillage the booty?
LMAO, I had to say it.
Trav.
You and I both Bro.
Trav.
Exchange rates are key economic challenge: UN
VNECONOMY updated: 20/04/2007
Managing exchange rates is the leading challenge facing Asia-Pacific economies this year, according to a survey issued by the UN Economic and Social Commission for Asia and the Pacific (UNESCAP) yesterday.
Jonathan Pincus, senior country economist for the UN Development Programme (UNDP) said it was very difficult to manage these rates which have an enormous impact on import-export balances. Viet Nam needed a flexible system of exchange rate management, he said, in order to fit in with the rest of the region and world.
The UNESCAP survey also predicted a growth rate in 2007 of 7.4 per cent in developing economies in the region, slightly off 2006’s rate of 7.9 per cent.
The survey also predicted that inflation would be less this year in developing countries in the region, at 3.8 per cent.
In its survey report, UNESCAP singled out gender inequality as a signal matter having a great cost on regional growth and prosperity.
Pham Lan Huong, deputy director of the Ministry of Trade’s Department for Trade Policy and International Integration Studies, said the Asia-Pacific region was losing US$24-42 billion per year due to restrictions on the access of women to educational opportunities and employment.
UNESCAP suggested free universal primary education, more local schools, more WCs for schoolgirls, and long-term education programmes for women as ways to encourage parents to send daughters to school.
It urged an end to regulations that limited the ability of women to own assets or hold certain occupations, as well as providing free meals and mobile health services for school children and pregnant women.
India, Malaysia and Indonesia, each with religious and cultural traditions of male dominance, were considered to have the greatest gender inequality in education and employment, while Viet Nam was less impacted by this problem, Huong said.
Viet Nam ranked the second in the region after New Zealand in the percentage of women sitting in the nation’s governing parliamentary body, with women constituting 27 per cent of National Assembly members, said Pincus.
Source: Vietnam News
http://www.vneconomy.vn/eng/index.php?param=article&catid=04&id=6616e0f2741913
Vietnam raises bank investment caps 04/22/07
Hanoi (Agencies) - Vietnam will allow foreign strategic non-bank investors to raise their stake in domestic banks from 10 to 15 per cent, the government said in an online statement Saturday.
However, the change did not apply to foreign banks, whose maximum stake in local banks remains capped at 10 per cent. It also left unchanged the total foreign ownership ceiling of 30 per cent in any Vietnamese bank.
The move comes amid a shake-up in the banking sector of communist Vietnam, a fast growing economy with an under-developed financial sector where only eight per cent of the country's 85 million people have bank accounts.
The new decree would help local banks expand after Vietnam's entry into the World Trade Organisation in January rang in a new era of stiff competition against foreign banking giants eager to do business here.
International banks such as London-based HSBC and the Australia and New Zealand Banking Group (ANZ) plan to set up new branches and expand services such as credit cards, personal loans and mortgages.
The decree, issued Friday and published Saturday, said Vietnam would allow the "stake of a strategic foreign investor to increase from 10 per cent to 15 per cent of the legal capital of a Vietnamese commercial bank."
However, it also said that "the stake of a foreign financial institution ... cannot exceed 10 per cent of the legal capital in a domestic commercial bank."
Under the new rules, the prime minister can, in special cases, raise the share limit for a foreign non-bank strategic investor to 20 per cent, while non-strategic investors are limited to a five-per cent stake.
The decree did not define who is considered a strategic investor and did not say when the changes would take effect.
Several foreign banks have recently bought 10-per cent stakes in Vietnamese banks under deals that give them a market foothold while transferring capital and technical and managerial expertise to their local partners.
BNP Paribas has tied up with Orient Commercial Bank, ANZ joined with Sacombank, while regional giants Standard Chartered and HSBC partnered Asia Commercial Bank and Techcombank.
http://www.bangkokpost.com/breaking_news/breakingnews.php?id=118250
Ill call arround as well. Its a currency, so it has to trade somewhere.
Trav.
IHub will be down for a few minutes at 6:00 pm Eastern.
There waiting for everything to close so you cant order more. lol.
Trav.
Wow, man, I'm kinda speachless.
Honest, I really dont even know what to say. Can we swear on these boards?
WWWWWWWWWWEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
Thanks for the update Strongtower. Im going to go do something outside and wait this all out....I think.
I'll call Rick C. A chunk of his should be in his mail boxx today.
Trav.
Update on Wells Fargo prices.
DONG is at 72.93 per million to buy from Wells Fargo.
1 USD to 13,711 DONG per her on the phone,
1-800-678-4653. Press #1, then press #1 again for priceing info and orders.
Trav.
Per Wells Fargo, they are not Tradeing this currency, and dont know of any bank that is.
1 800 678 4653, press option #1, then #1 again for live person to say hi to.
Trav.
Exactly .... it cant be about the sand. lol. And there are many things going on behind the sceens that we dont know yet.
Trav.
PPS is at 0003. Future news that come out needs more meat to it. Difficult to stay interested in a stock that is just sitting there for the most part. Give it time.
Im sure that when news comes out that has alittle more substance to it, that more will be willing to post there thoughts about there stock.
JMO's
Z.
PS; And, no DIVI in my account yet either. It'll be there some day.
A rich lonely widow decided that she needed another man in her life so she placed an ad, which read something like this:
RICH WIDOW LOOKING FOR MAN TO SHARE LIFE AND FORTUNE - NEEDS TO HAVE THESE QUALIFICATIONS:
1) WON'T BEAT ME UP
2) WON'T RUN AWAY
3) HAS TO BE GREAT IN BED
For several months, her phone rang off the hook, her doorbell was ringing constantly, she received tons of mail, etc., all to no avail: none seemed to match her qualifications.
Then one day the doorbell rang yet again. She opened the door to find a man with no arms and no legs lying on the welcome mat.
Perplexed, she asked, "Who are you? And what do you want?" "Hi," he said, " your search is over, for I'm the man of your dreams. I've got no arms so I can't beat you up and no legs so I can't run away." "Well, then," she said, "what makes you think that you're so great in bed?" To which he replied "Well, I rang the doorbell, didn't I?"
For some of there oil rights or trade for the black gold. IMO.
Trav.
Was going to ask the same thing myself..... not sure where to get them but am calling my bank in the morning for some DONG'ers, so Ill enquire on them as well.
Trav.
Am I reading this correctly? They want it at arround .03 - .05 this weekend. So anytime this weekend or maybe Monday, it might pop?
Any word on a LOP?
Trav.
Thanks, PK sent one earlier as well. Im all over it now, just looking arroound now at all the boards. I see JJ (one of my team mates) over on OTCBB alerts but I havent joined in on anything, Im trying to stay away from the stocks and take a break.
Trav.
Sweeeeet, thanks....
Trav.
When you order your currency from whom ever you choose to. Make sure to keep tabs on your orders.
I have ordered from three different distributors and have had different results from them all.
GID took a couple weeks to get to me, but had the order correct. I've used them a few times, and liked there service, there moneys were just a bit used on a couple orders. Some have posted that they have been sent a coupon that can be used with your order for 40 dollars off. My orders were COD so a bit inconvenient to run to the bank, then back home to wait, then back to the bank. Or if I missed the FED-Ex guy, run to the FED Ex office and pick up my shipment, then off to the bank to place them in a Safe deposit box.
DinarTrade has great service and a very professional package sent to you. I've used Ali few times as well, and only one order has been interrupted do to lack of notes being taken on my account, the error was fixed but took a couple weeks to resolve the issue. These things happen, he was busier at the time. Same as above with COD and the inconvenience of it all, but ALi was very timely in getting my orders to me. If you mention iHub to him more than likely you will get a discount, and Ali is willing to try and beat all prices out there for currency.
Wells Fargo, The most convenient for me, its just one stop shopping no waiting around for FED EX to show up at my house, or taking any chance on missing there delivery to my house. I did have an issue with the last order as they never called me when it came in and was sitting at the bank for longer than it should have been. A nice thing about the bank, as that it is very difficult to loose track of it from it being touched by so many people. It just goes right to your branch.
I recommend keeping tabs on your orders, VIA Email, or phone calls. If they say you will see it in 24 hours and it doesn't show up, call them or Email them and ask what is going on with your order. If they say 6 to 8 weeks like Wells Fargo says now, then start calling just a couple days after you place your order and ask if it is still on schedule.
JMO's, GLTA
Trav.
I ran out of post yesterday, Im saveing my post till later in the day. lol.
Trav.
My pleasure, glad to be a assistance to you. Any questions at all, feel free to ask them, we all try and help everyone out as best we can.
Have a great night, talk to you in the morning. This looks like the last post that I am alloud to do today. 15 max per day.
Trav.
Im waiting on a couple stocks as well. But even worse, a CD. I got bored and picked up a CD a couple months back. It was stupid, and the Bank Teller had the balls to look at me and say, "Just look at that return you will get back on it" I almost got sick on the desk. Never go to the bank when your bored or dont know what to do with a few bucks that are sitting arround.
So, I wait till May 1st give or take a day or two to do larger buy's than the two week wait I've been doing.
So hold off till after then, DINAR, and DONG.
Trav.
Thanks for the PM's but I cant reply back as my account is a free one...and thats going to change soon. lol.
My Dinars are in the 25,000's, 10,000's and 5,000's. I hit the 25's first and hard starting back in late November or ealry days of December. Later I started ordering just the 10's and 5's.
My DONG are in 500,000's and 100,000 notes. Im going to place a small order with Wells or Bank of America to see if I can aquire some of the smaller notes in the DONG, just to have them.
Trav.
And your looking good on your numbers. Thumbs up to ya.
My last order with Ali came back to me with the 100,000 notes. You can ask for other sized notes, but they cost more to ship.
Trav.