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Asia Top News and Analysis Vietnam

  • SINGAPORE, Oct 12- The Asian naphtha price and margins ended the week at a three-session low of $985 a tonne and $123.03 a tonne respectively to mirror the fall in European values as gasoline demand softened. "The fall in margins today was a reflection of the gasoline market in Europe," said a Singapore- based trader.

  • India's Essar Oil has offered its first November loading cargo which will make it the company's fifth diesel export in two years.

  • BANGKOK, Oct 12- Most Southeast Asian stocks posted small gains on Friday as large caps and stocks such as Wilmar International. The index was down 2.13 percent on the week, its worst weekly loss since May and Southeast Asia's worst performing market. Among weak spots, Malaysia eased 0.13 percent on Friday, down 0.4 percent on the week.

  • Oct 12- The following table updates the assets and registered capital of banks in Vietnam, based on their latest published reports. Technological& Commercial Bank 12-11 180,531.2* 8,848. Petrolimex Group Bank 06-12 19,581.0 3,000.

  • --Vietnam's state budget collection in the first nine months of 2012 edged up 1.3 percent from a year ago to 498.49 trillion dong, while expenditure rose 14.5 percent in the period to 643.21 trillion dong, the finance ministry said. THOI BAO KINH TE VIETNAM.

  • -DBS Group, Southeast Asia's largest lender, has agreed to sell more than half of its stake in Bank of Philippine Islands. to Ayala Corp for S $757.3 million to boost its capital base.-- SEMBCORP INDUSTRIES LTD. -Budget carrier Tiger Airways said it appointed Ho Yuen Sang as the managing director of its Singapore operations.

  • Oct 11- Cotton prices extended losses in early trade on Thursday after the U.S. government raised its inventory forecast for the season to end-July 2013 to a new record of close to 80 million 480- lb bales, reinforcing concerns about falling demand from China, the world's largest textile market.

  • *Limitless to now be owned by Dubai government. DUBAI, Oct 11- Indebted Dubai property firm Limitless has concluded the restructuring of a $1.2 billion loan, bringing to an end talks that have lasted over two years.

  • DUBAI, United Arab Emirates-- An indebted property division of Dubai World behind plans to dig a massive canal through the Dubai desert says it has completed a deal to rework the terms on $1.2 billion of loans.

  • DUBAI, Oct 11- Limitless, the indebted property arm of Dubai World, has reached an agreement with creditors to restructure a $1.2 billion Islamic loan, the company said on Thursday. Limitless will also shortly commence a procees to transfer ownership of itself to the Dubai government from conglomerate Dubai World, it said in a statement.

  • BANGKOK, Oct 11- Stocks in Malaysia, the Philippines and Vietnam slipped in light trade on Thursday, led by blue-chip stocks such as Axiata Group Bhd. Singapore recouped earlier losses, helped by late buying in beaten-down large caps, with the benchmark Straits Times Index.

  • PHNOM PENH, Oct 11- Cambodia has threatened legal action against two U.S.-funded radio stations, accusing them of favouring opposition parties and promoting U.S. foreign policy, sources said on Thursday.

  • *Vietnam's new crop offered at $30 below London. SINGAPORE, Oct 11- Trading houses offered beans from Vietnam's new crop at discounts to London futures this week, but Indonesian robustas returned to premiums despite a lack of interest from roasters, dealers said on Thursday.

  • "Shares extended gains, led by penny stocks after more firms reported good earnings," said Doan Tran Phuong Phi, head broker at Ho Chi Minh City Securities. Penny stocks providing support included Tan Tao Investment and Industry Corp, Kinh Bac City Development Share Holding Corp and several mining firms such as Binh Thuan Mineral Industry Co.

  • Oct 11- The U.S. Department of Agriculture has raised its 2012/ 13 global ending stock forecast for cotton to record highs for a third consecutive month, sending prices down and reinforcing concerns about weakening demand from China, the world's largest textile market.

  • FINANCIAL NEWS: THOI BAO KINH TE VIETNAM. --Petrovietnam Finance Corp will buy 500,000 shares of Pha Lai Thermal Power Co by Nov. 10, the Ho Chi Minh Stock Exchange said. Petrovietnam Finance Corp owns 7.81 million PPC shares, or 2.39 percent of the latter firm.

  • HANOI, Oct 11- Vietnam's economic growth target is 5.5 percent next year, similar to the expected rate of expansion in 2012, the government said.

  • HANOI, Oct 11- Vietnam's economic growth target next year is 5.5 percent, similar to the expected expansion in 2012, the government said.

  • BRUSSELS, Oct 10- The European Union said on Wednesday it had reduced the duties imposed on screws and bolts from China after the World Trade Organisation found flaws in the way they were initially calculated. China is a subject in 21 of the European Commission's 41 ongoing investigations into subsidies and dumping.

  • SINGAPORE, Oct 10- Asia's fuel oil market extended gains on Wednesday, with the first four inter-month spreads gaining a dollar and above amid renewed hopes that demand would recover as players start stockpiling for winter. Western Power and East-West Power are seeking 80,000 tonnes of high sulphur fuel oil for November-delivery.