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NEWS UPDATES Asean Affairs   6 September 2013  
Central bank makes $272m on gold sales

Vietnam:The State Bank of Viet Nam (SBV) said it made a profit of more than VND6 trillion (US$272.72 million) from 57 gold auctions.

According to the SBV data, a total of 1,517,200 taels were sold out of the 1,622,000 on offer since March 28.

The profits will go towards the State budget to reinvest in the economy and to fund social welfare projects.

The central bank was able to profit from the auction because the domestic gold price is significantly higher than the global price.

It is also the sole producer and importer of gold in Viet Nam, and enjoys other favourable policies such as tax exemption on gold imports.

Yesterday, gold in the domestic market soared to VND38.6 million per tael in the early morning and then inched down to VND38.5 million following global movements.

SJC gold was trading at VND38.27 million per tael for bid and VND38.47 million per tael for ask.

Techcombank gold prices were listed at VND38.30 - VND38.48 million per tael for bid and ask, respectively.

The domestic gold premium yesterday stood at VND3 million per tael on the world price based on Vietcombank's forex rate of $1=VND21,180, up from VND2.93 million per tael on the previous day.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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