HCMC - The Hochiminh Stock Exchange (HoSE) will launch afternoon trading and make changes in trading time in February next year to increase turnover, said Nguyen Son, head of the State Securities Commission's (SSC) Market Development Department. The market will start trading from 9:00 a.m., instead of 8:30 a.m. as now, and will have an afternoon session from 1:00 p.m. to 2:30 p.m. with some changes in trading time. The ATO (automated matching order) phase will take place in 15 minutes from 9:00 a.m. to 9:15 a.m. while 15 minutes of the second ATO phase will be from 2:00 p.m. to 2:15 p.m. The continuous order matching phase will take place from 9:15 a.m. to 11:30 a.m. and then reopen from 1:00 p.m. to 2:00 p.m. Meanwhile, put-through deals are allowed from 9:00 a.m. to 11:30 a.m. and from 1:00 p.m. to 2:30 p.m. Son said the pilot running of the system was smooth but SSC was still waiting for an official report from HoSE. HoSE proposed extending trading time in 2009 but … [Read more...] about HoSE begins afternoon trading in February
Trade
Vietnam joins India intâl trade fair
Four Vietnamese businesses are showcasing their products at the India International Trade Fair 2011 that opened in New Delhi on November 14. As one of India’s leading trade promotion events that is organised by the Trade Promotion Organisation under the Indian Ministry of Commerce and Industry, the annual event aims to promote trade exchanges between India and countries worldwide. This year’s event has drawn the participation of over 6,500 Indian and foreign companies from 30 countries and territories, including the US, Russia, the UK, France, China, Singapore, Thailand and Pakistan . The Vietnamese businesses brought equipment, computer software, automobile, electronics, telecom and leather products, textile, handicrafts, jewelries, interior décor and consumer goods to the fair, which will last until November 27. According to Vietnamese Commercial Counselor to India Nguyen Son Ha, India is now one of Vietnam’s 10 … [Read more...] about Vietnam joins India intâl trade fair
Ministry to amend int’l trade decree
The Ministry of Industry and Trade plans to amend a governmental decree regulating the operation of representative offices and branches of international companies in Viet Nam. Dr Pham Sy Chung, acting director of the ministry's Planning Department, said that Decree 72ND-CP issued in 2006 would be amended to reflect the country's World Trade Organisation's commitments. New changes would also help the representative offices and branches of international companies. Chung said the representative offices and branches, of which there are 2,378 in HCM City and 1,495 in Ha Noi, contributed 17.2 per cent of national export turnover last year, assisting domestic businesses in importing technology and equipment, and creating jobs for 10,600 local residents. However, many representative offices and branches have violated regulations that cover operations. Many of them have not submitted yearly reports or informed local authorities of changes in foreign personnel. They have also had unclear … [Read more...] about Ministry to amend int’l trade decree
Clinton: RoK-U.S. trade deal in “home stretch”
Secretary of State Hillary Clinton flew to the Republic of Korea (RoK) Saturday to reassure the RoK about the U.S. commitment to sealing a long-delayed trade deal and to coordinate strategy over the Democratic People's Republic of Korea (DPRK) nuclear standoff. Clinton arrived for talks with the RoK's Foreign Minister Kim Sung-hwan Saturday and President Lee Myung-bak Sunday, before a trip to Japan in a gesture of support following last month's earthquake and tsunami disasters that killed thousands and crippled a nuclear plant. The shift in focus to Asia follows Clinton's attendance at a NATO conference in Berlin where the alliance's foreign ministers faced strains over a Western air campaign in Libya against forces loyal to Muammar Gaddafi. U.S. and the RoK's trade negotiators struck a deal in December on a free trade pact, which was signed in 2007 but had not been ratified for three years because of U.S. auto and beef industry concerns. However, both the Congress and … [Read more...] about Clinton: RoK-U.S. trade deal in “home stretch”
Japan, India reach free trade accord
Asian economic powers Japan and India broadly agreed on September 9 on a free trade deal that aims to reduce most tariffs between the two nations in a decade, Japanese foreign minister Katsuya Okada said. The two countries will iron out details before officially signing the pact when Indian Prime Minister Manmohan Singh visits Japan, probably in October, Okada told reporters. The deal comes as Japan continues to seek ways to benefit from robust Asian economies, including rapidly expanding India and China. Japan already has economic partnership agreements with 10 nations and one region-including Singapore, Mexico and the Association of Southeast Asian Nations (ASEAN). Under the deal with India, Tokyo will cut 90 percent of its tariffs on Indian products shipped to Japan over the next decade, Okada said. India will abolish 97 percent of tariffs on Japanese products during the same period, he said, adding that the deal was likely to cover reduced tariffs for Japanese auto parts, … [Read more...] about Japan, India reach free trade accord