PRESS DIGEST - Vietnam newspapers - Oct 10
HANOI, Oct 10 (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
- Violations in monetary and banking areas such as unlicensed operations, changing the timing for split and mergers of banks may be subject to fines of up to 2 trillion dong, a draft decree said. The new ruling, if approved, would be in place from July 1, 2013.
- Deutsche Bank has cut its stake in food producer Kinh Do Corp to 5.8 percent after selling more than 1.9 million KDC shares between Aug. 30 and Sept. 21, the Ho Chi Minh Stock Exchange said.
- Hoa Phat Group said it has raised its stake in Yen Phu Mining Co by 10 percent to 50 percent.
ECONOMIC AND GENERAL NEWS: QUAN DOI NHAN DAN
- A total of 58 companies with foreign investment now operate in Vietnam's feed industry, accounting for a quarter of the total 233 such firms, the husbandry department said.
- The finance ministry said it will not cut retail fuel prices due to recent fluctuations in global prices while major importers still have access to a price stabilisation fund.
- Seasonal floods on the Mekong river are forecast to peak around Oct. 16-17 at levels below last year, the national weather centre said.
THOI BAO KINH TE VIETNAM
- Vietnam could raise the import tax on steel products to 7 percent from 5 percent now as domestic producers have been facing tough competition from imported steel, the draft of a finance ministry circular said.
- Vietnam may miss this year's target of earning $6.5 billion from seafood exports as global consumer demand is contracting while domestic firms find it hard to access loans, said General Secretary Truong Dinh Hoe of the Vietnam Association of Seafood Exporters and Producers.
(Reporting by Hanoi Newsroom; Editing by Sunil Nair)
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Keywords: PRESS DIGEST VIETNAM/