Business

Chairman of agriculture firm Louis Holdings Do Thanh Nhan was sentenced to five years and six months in prison on Friday for stock manipulation. Seven accomplices also received various punishments, from 12-month suspended prison sentences to four years in prison, the Hanoi People’s Court decided. Among the partners in crime, …

Vietnamese electric automaker VinFast said on Friday it will list in the United States via a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co. The move comes after the startup last month said it had received a fresh round of funding pledges worth $2.5 billion from parent …

Bank borrowers are complaining that they still have to pay high interests despite banks cutting rates, with reductions only being applied to new loans. Duc Anh in Hanoi found he received a mere 0.15 percentage points discount from 14.7% to 14.55% a year after the State Bank of Vietnam lowered …

Vietnam’s benchmark VN-Index rose 0.93% to 1066.9 points Friday, returning to the highest level in four weeks. The index closed 9.78 points higher after losing 1.14 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 3.84% to VND11.97 trillion ($510.27 million). The VN-30 basket, comprising …

Vietnamese customers can directly buy iPhones, iPads, MacBooks, and other devices from the Apple online store from May 18. The store will offer the full line of hardware, accessories and services and free shipping. Customers can also use personalization services such as engraving their names on devices. It will have …

Standard Chartered has reduced Vietnam’s GDP growth forecast for this year by 0.7 percentage points to 6.5%. In a release Thursday the British bank said it amended the forecast it had made in January of 7.2% growth after considering external factors more carefully with Vietnam’s macro indicators slowing down in …

State Bank of Vietnam governor Nguyen Thi Hong said bank lending rates would be reduced at the appropriate time but remain high for now to achieve macro targets. “We really want to bring down the interest rates,” she assured southern business leaders at a meeting in Ho Chi Minh City …

Peeled unripe mangosteen prices have increased by 57% to VND550,000 (US$23.44) a kilogram this year as more and more people use the fruit as a food item. Thao, a fruit seller in HCMC’s District 6, said if not peeled, the fruit sells only for VND80,000. “It’s selling so well despite …

Ho Chi Minh City plans to host a meeting at which 100 CEOs from major corporations around the globe will gather to discuss investment. The event, named T100 Connect, will be part of the 2023 Ho Chi Minh City Economic Forum (HEF) September 13-17. Local media have dubbed the gathering …

The average monthly salary of Vietnamese pilots working for Vietnam Airlines was 41% lower than their foreign colleagues’ last year, a gap that caused many to quit. A recent report by the Ministry of Labor, Invalids and Social Affairs, which flagged this, said the 829 Vietnamese pilots working for the …