Business

Vietnamese lender VPBank is expected to sign a deal with Japan’s Sumitomo Mitsui Financial Group later this month to sell a 15% stake worth some US$1.4 billion to the Japanese bank. The Vietnamese bank will sell over 1 billion shares to SMBC Consumer Finance Co. under Sumitomo Mitsui, for VND32,000-$33,000 …

The current prices of durian in the Mekong Delta have fallen up to 50% against early last month, and are poised to drop further because the fruit is in season now. Surveys at orchards in Tien Giang Province and Can Tho City show that the fruit is selling for VND90,000-VND140,000 …

Seven debt collecting companies in Ho Chi Minh City have recently been investigated and exposed for threatening and blackmailing debtors. After Tham of Hanoi borrowed VND100 million ($4,223.87) on securities and financial company Mirae Asset’s app last year, but was unable to continue repayment after paying VND24 million, debt collectors …

Farmers in Vietnam’s main pomelo growing area, the Mekong Delta province of Ben Tre, are earning no profits from the fruit since prices have fallen sharply over the last two years. Traders have been paying farmers VND15,000-21,000 (US$0.6-0.9) per kilogram during the period, down from VND40,000-50,000 in previous years. Earlier …

Vietnam’s fourth-largest property developer Novaland wants to increase its capital by VND29.25 trillion (US$1.24 billion) by issuing 1.95 billion shares to existing shareholders, and another 975 million in private placement. Novaland’s existing shareholders would receive the new shares with a 1:1 ratio at a the selling price of at least …

Suppliers to Dutch chip-making machines giant ASML Holding NV are considering building plants in Southeast Asia instead of China amid political tensions between Beijing and the West, according to two sources and documents seen by Reuters. Officials from a dozen tech companies are set to visit Vietnam, Malaysia and Singapore …

A 50-year-old Russian tourist has been detained in Thailand for overstaying his visa for 188 days on Koh Pha Ngan Island around 500 kilometers from Bangkok. He is awaiting deportation, the local police were quoted as saying Friday by news portal The Thaiger. His arrest came as part of a …

Stock investors have turned indifferent to buying dipping tickers as the lack of supporting information has created uncertainty about a quick and lasting market recovery. After the VN-Index closed last year around 900 points, Hai, 36, sold most of his portfolio and put the funds in a bank for a …

Ho Chi Minh City has scrapped a proposal to tax the second property owned by people it had been considering to reduce speculation. It has also given up plans to hike non-agriculture land and the income tax rate for selling a second property. The Ho Chi Minh City Real Estate …

SJC gold price gained 0.38% to VND66.8 million ($2,821.55) per tael Saturday morning. Gold ring price went up 0.74% to VND54.8 million per tael. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices jumped nearly 2% on Friday, driven by a slide in U.S. Treasury yields and broader …