Business

Japanese lender SMBC has completed a $1.5 billion deal to purchase a 15% stake in Vietnam’s VPBank in the biggest acquisition ever recorded in Vietnam’s banking industry. The deal makes Sumitomo Mitsui Banking Corporation (SMBC) Japan’s second-largest banking group, a strategic partner of VPBank, the Vietnamese lender said Monday. The …

Steel giant Hoa Phat Group wants to build several major urban areas 300-500 hectares in size in the next 10 years as part of its diversification plans. The company is looking for potential locations, it said in a recent report. Last year its subsidiaries bid for construction of projects in …

The “Empower the Workforce of Tomorrow” program by ELSA offers free accounts for both students and employees to improve their English speaking skills with up to $1 million in sponsorship. Last year’s 2022 “Empower the Workforce of Tomorrow” program attracted the registration of about 5,000 individuals in 33 different industries …

Immigration officers in Indonesia’s popular resort island of Bali have deported two Polish tourists for flouting the ban during the Nyepi celebration, or Day of Silence, last week. Karol Grabinski, 39, and Barbara Karina Walczak, 24, were found pitching up a tent on a gazebo at Purnama Beach and enjoying …

The U.S. dollar gained marginally against the Vietnamese dong on the black market Monday morning. Unofficial exchange points sold the greenback at VND23,500, up 0.08% from the weekend. Vietcombank maintained the greenback at VND23,680. Eximbank kept its rate unchanged at VND23,670. Techcombank lowered the dollar by 0.13% to VND23,690. The …

SJC gold price went up 0.07% to VND67.35 million ($2,862.91) per tael Monday morning. Gold ring price gained 0.09% to VND55.9 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices edged down on Monday as a steady U.S. dollar made bullion less affordable for overseas …

Vietnam’s exports to Russia fell by nearly 60% year-on-year to US$205 million in the first two months of this year. Iron and steel, footwear and electronics exports almost came to a halt while those of agriculture produce like rice, vegetables and seafood fell by 20-50%, according to the Vietnam Trade …

Bangkok is the favorite outbound tourist destination among Vietnamese travelers for the upcoming Reunification Day (April 30) and Labor Day (May 1) holidays, Booking.com reported. Seoul came in second, followed by Tokyo, Singapore and Taipei, according to the Dutch-based agency that compiled the list based on an analysis of check-in …

Smartphone sales in Vietnam have plunged in the first two months of 2023 as tightened spending amid rising inflation prompts the sector’s first decline in years of recent growth. Less than 2.5 million smartphones were sold in Vietnam this January and February, down 30% year-on-year, according to an industry report …

Vietnamese cell phone users have been receiving a spate of sexual messages from strangers in recent times that also ask them to click on links. The messages that came from handles such as “Lam tinh” (Making love), “Gai goi” (Call girl) and “Tim ban tinh” (Seeking love partners) began at …