Business

Inflationary pressure and banks’ concerns about rising bad debt have kept loan interest rates high, the State Bank of Vietnam (SBV) has said. Many businesses are complaining that a high loan interest rate of around 9.3% a year is leaving them unable to access credit to keep their operations going, …

Vietnam’s benchmark VN-Index dropped 0.51% to 1060.44 points Wednesday, but with trading rising double-digit. The index closed 5.47 points lower after gaining 0.20 points on Tuesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 17.64% to VND13.27 trillion ($565.84 million). The VN-30 basket, comprising the 30 largest …

Vietnam’s VinFast expects to sell as many as 50,000 electric vehicles (EVs) this year, an almost seven-fold increase over 2022 as it ramps up exports to North America and starts shipping to Europe, the company’s founder said on Wednesday. VinFast could hit break even as soon as the end of …

Investing in electric vehicle manufacturing is Vingroup’s mission to contribute to Vietnam’s development by building a high-tech brand with global influence, according to chairman Pham Nhat Vuong. “If it were just for money, the board of Vingroup would not dive into a sector as difficult as manufacturing electric cars,” the …

Hundreds of homebuyers at Hausbelo apartment project in Thu Duc City have seen no construction in four years and face to loose their money due to confusion as to who the real developer is. In recent weeks, hundreds of customers have been gathering at the headquarters of AHC Minh Son …

Many banks have cut deposit interest rates this month, bringing the average rate to below 9. The rate is half a percentage point lower than at the start of this year for terms of less than six months, and one point lower for longer tenors. Some banks offered nearly 10% …

The U.S. dollar rose against the Vietnamese dong Wednesday morning. Vietcombank sold the dollar at VND23,625, up 0.02% from Tuesday. Eximbank kept its rate stable at VND23,600. Techcombank’s rate was also unchanged at VND23,623. The State Bank of Vietnam raised its reference by 0.02% to at VND23,656. Unofficial exchange points …

SJC gold price continued to fall by 0.07% to VND67.1 million ($2,861.41) per tael Wednesday morning. Gold ring price fell 0.44% to VND57.2 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices held steady in early Asian trade on Wednesday after retreating from the key …

CIMB Thai Bank and Positive Thinking Company, a leading technology company in Asia-Pacific, have announced to establish an expert software development center for CIMB Thai in Hanoi. The Vietnam Software Development Center in Hanoi is expected to add powerful engineering expert resources and accelerate the digital journey of CIMB Thai, …

Thanh Nam from Binh Duong Province sold half his Bitcoin for US$5,000 to buy the hot meme coin Pepe at its peak. But he was recently only able to sell the coin for a total of $2,000. When the Pepe coin price hit $0.000004 on May 5 (bringing its market …