Business

High demand but little supply have driven the prices of social housing apartments in Hanoi to double the levels of five to seven years ago when they were first sold. Hoa applied to buy a social housing apartment at the Rice City Linh Dam project in 2014, and the price …

A man bagged US$250,000 worth of airline tickets for just $17,000 after fares on an All Nippon Airways (ANA) website were listed ultra cheaply due to a currency conversion error. Herman Yip, 32, snapped up 25 tickets for a small fraction of their usual cost, including a round-trip in first …

A total of 112 Ho Chi Minh City residents have gathered at a police office to accuse Saigon Commercial Bank and insurer Manulife of defrauding them. They gathered at the HCMC Police Department in District 1 on Thursday to demand officials investigate SCB and Manulife for luring them into buying …

Vietnam’s benchmark VN-Index dropped 0.60% to 1,042.91 points Friday, extending its decline after hitting a 4-week low Wednesday. The index closed 6.34 points lower after gaining 0.27 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 46% to VND9.67 trillion ($411.62 million). The VN-30 basket, …

Masan High-Tech Materials, a subsidiary of Masan, reported record revenues of $662 million for 2022, a 15% increase over the 2021 fiscal year, mainly from tungsten products. The recent annual general meeting of the company set a net revenue target of $775 million in 2023. Company CEO Craig Richard Bradshaw …

Norbreeze Collective Asia (NCA) and Dara Ventures signed an agreement on March 28 to strengthen their partnership in Cambodia. Nam Huynh (L), CEO of NCA, and Thierry Tea, CEO of Dara Ventures sign the partnership agreement in Phnom Penh. Photo by NCA “We see Cambodia as an important market that …

Many businesses are cutting salaries and letting go of employees while waiting for the economy to turn the corner. Phan Hong Phuc decided last year to open his own company after working for several years as a technical manager at a major construction company But his company has been facing …

Ban Gioc Waterfall in Cao Bang Province on the northern border has dried up almost completely except for a few hours a day when a hydroelectric plant releases water. A member of the Ban Gioc Waterfall Tourist Area management on Thursday blamed this on the lack of rain this year …

Binh Minh Plastic, which was acquired by a Thai company in 2018, doubled its profits in the first quarter though revenues only increased by 6%. It reported sales of VND1.45 trillion (US$61.7 million), and though costs increased, profit after tax doubled year-on-year to VND281 billion as the profit margin improved …

Ho Chi Minh City saw the ninth fastest growth rate globally in the number of millionaires last year, according to residence and citizenship advisory firm Henley and Partners. Vietnam’s biggest city saw their numbers rise by 84% to 7,700 individuals, it said in the 2023 The World’s Wealthiest Cities Report. …