Business

Construction of the US$4-billion Bac Lieu liquefied natural gas-fired power plant in the south has not begun even three years after its approval due to a disagreement in electricity selling price. National utility Vietnam Electricity (EVN) and the investor, Singapore’s Delta Offshore Energy, have held nine rounds of negotiations but …

Shareholders of Bamboo Airways, at an extraordinary general meeting on Monday, rejected plans for a private placement of shares to increase charter capital. The proposal for a VND9.57-trillion ($405.5 million) issue to increase the capital to VND28 trillion, restructure loans and swap debts for shares based on agreements with creditors …

Chuong Duong Beverage expects to double its revenues this year to VND365 billion ($15.57 million), the highest since 2017, by expanding sales networks and entering new markets. It also expects to break a two-year losing streak and earn profits of VND3.8 billion. For this, it plans to increase production by …

Australia’s OZ Minerals said on Tuesday its A$9.6 billion ($6.38 billion) buyout by BHP Group has received Vietnam’s Competition and Consumer Authority’s approval. In early February, OZ Minerals had also received approval from Brazil’s competition regulator, the Administrative Council for Economic Defense, for the proposed buyout. The copper-gold producer on …

Thai-owned consumer electronics company Casper reported a loss of nearly VND467 billion ($19.8 million) for last year after being in the black in 2021. Casper Vietnam told VnExpress that the loss was due to a 58% jump in sales support expenses to VND1.095 trillion. “We have sacrificed profits to increase …

Durians selling for VND35,000 ($1.49) per kilogram, half their usual price, are being advertised by online sellers as the best quality, but customers are not receiving their orders. A social media user named Hoang said recently on Facebook that he was able to buy a large amount of durian from …

The number of new retail accounts opened at securities brokerages plunged to nearly 40,000 in March, the lowest level in the past two years, according to the Vietnam Securities Depository. March is also the sixth month in a row in which the number of new stock accounts was less than …

Vietnam’s benchmark VN-Index dropped 0.41 percent to 1065.35 points Monday in its third straight losing session. The index closed 4.36 points lower after losing 1.2 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 39.64% to VND15.06 trillion ($642.33 million). The VN-30 basket, comprising the …

A meeting between representatives of English teaching center Apax Leaders and’ parents ended prematurely in disorder as the venue manager shut the place down due to security concerns. Nguyen Ngoc Thuy, chairman of the parent company Apax Holdings, and CEO Nguyen Anh Tuan, had scheduled a meeting with 700 parents …

A Russian tourist was confirmed dead and his younger brother sustained injuries Saturday after their rented scooter crashed on a rural road in Thailand’s Phuket. Maksim Fadeev was driving his younger brother on a scooter in Phuket’s Pa Khlok Town when his motorbike crashed, killing him at the spot, The …