July 25, 2012 / 2:19 AM / in 5 years

PRESS DIGEST - Vietnam newspapers - July 25

HANOI, July 25 (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:

LAO DONG

- Credit institutions must report their dong interest rates to the State Bank of Vietnam on a weekly basis, the central bank said.

SAIGON GIAI PHONG

- With interest rates ranging between 0.5 percent and 1 percent per year, banks have resumed raising gold deposits, with a view to converting the metal into dong, experts said. The move came after the central bank extended the deadline to stop raising gold deposits to Nov. 25.

THOI BAO KINH TE VIETNAM

- Vietnam Debt Fund SPC will sell all the 1.08 million shares of Refrigeration Electrical Engineering Corp in its possession, equivalent to a 0.45 percent stake in the company, over a month-long period starting July 26, the Ho Chi Minh Stock Exchange said.

ECONOMIC AND GENERAL NEWS:

VIETNAM NEWS (vietnamnews.vnagency.com.vn)

- Vietnam protests China's establishment of the so-called "Sansha city" and the Chinese Central Military Commission's decision to form a "garrison command" on Phu Lam island in Vietnam's Hoang Sa (Paracel) archipelago, foreign ministry spokesman Luong Thanh Nghi said.

LAO DONG

- Vietnam's economy could grow 5.5 percent this year, while inflation could hit 6-7 percent, an ANZ report said.

TUOI TRE

- Vietnam's maritime police have launched a patrol fleet of Casa-212 aircraft for monitoring passing vessels, spotting oil spills and carrying out rescue missions.

- Vinacomin, Vietnam's top coal miner, said it has sought government approval to halve the export tax on the fossil to 10 percent, following its losses of 8 trillion dong ($383 million) from electricity sales to power plants.

DAU TU

- Cooperation in oil and gas exploration remains an important area in Vietnam-Russia relationship, which brings in benefits and huge economic return, Ambassador to Moscow Pham Xuan Son said before President Truong Tan Sang begins a July 26-30 visit to Russia. (Reporting by Hanoi Newsroom; Editing by Jijo Jacob)

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