Business

NTUC FairPrice has apologized to a Muslim couple after one of its staff members insisted that complimentary snacks provided to Muslim customers during Ramadan were only for Malays. Jahabar Shalih, 36, and his wife Farah Nadya, 35, said that they were doing their usual grocery shopping with their two young …

Insurance companies will pay $200,000 to the family of a pilot killed in a helicopter crash in northern Vietnam, while coverage for the four deceased passengers will be negotiated between the transport company and their families. The Bell 505 helicopter carrying four passengers and one pilot that crashed near Ha …

Vietnam’s benchmark VN-Index dropped marginally to 1069.45 points Wednesday, with foreign investors net selling for the fifth straight session. The index closed 0.01 points lower after gaining 4.11 points on Tuesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 9.16% to VND12.65 trillion ($539.51 million). Foreign investors …

Vietjet Air operated over 31,000 flights with several new routes in the first quarter, earning revenues of VND12.6 trillion ($537.38 million). Vietjet’s financial report showed the sales of goods and ancillary services accounted for 42% of its total revenues. The airline operated 31,260 flights serving 5.4 million passengers in Q1. …

Hanoi and Ho Chi Minh City saw their Provincial Competitiveness Index (PCI) ranking tumble by 10 and 13 places respectively last year as investors expect more reforms in their business environment. The index, which has been studied and published by the Vietnam Federation of Commerce and Industry (VCCI) since 2005, …

Over 300 workers struck work Monday morning at garment maker Saitex International in southern Dong Nai Province to protest against its policy of docking wages for defective products. When they received their March salary, the workers realized there were deductions of VND200,000-1,000,000 ($8.5-42.4). Saying there were many defective products in …

Sales are down at real estate companies in the South as potential homebuyers can’t afford current lending interest rates of around 13-14% VnExpress has found that sales over the last six months at five top southern property companies have fallen 80-90%. Real estate consultancy DKRA Group has said that housing …

The Ministry of Construction is seeking to revoke the provision that developers of commercial housing have to set aside 20% of the total land area for social housing. The ministry, which is drafting amendments to the Housing Law, said the government should scrap this requirement when submitting the bill to …

Vietnam’s largest beverage company, Tan Hiep Phat, has appointed David Riddle as CEO to replace Tran Qui Thanh, who was arrested Monday on charges of illegally appropriating property. Riddle has been the company’s vice chairman for 13 years. David Riddle, the new CEO of Tan Hiep Phat. Photo by Tan …

Hoang Phuc International, a distributor of foreign fashion brands, said profits fell to almost a sixth last year from the previous year to VND1.9 billion (US$80,500). For the first time the company issued bonds last year worth VND11 billion at an interest rate of 12.5%. Hoang Phuc, established in 1989, …