Business

International food magazine TasteAtlas has listed durian, considered the “king of fruit” throughout Southeast Asia, one of world’s nine worst tropical fruits due to its smell. Primarily grown in tropical countries like Vietnam, Thailand, Indonesia and Malaysia, the durian is distinctive for its large size, strong odor, and thorn-covered rind. …

Beverage chain Phuc Long Heritage, in which conglomerate Masan Group owns 85%, reported the second highest revenues in the bubble tea and coffee industry last year. Its revenues were VND1.579 trillion ($67.15 million) and earnings before interest, taxes, depreciation, and amortization (EBITDA) were VND195 billion, the highest gross profit margin …

For an average income person living in Ho Chi Minh City, 19-24 years of savings is needed to buy an apartment costing VND2.5-3.5 billion ($106,300-$149,000). It is now nearly impossible to buy a new apartment at the VND 2 billion mark. According to a report in 2022 from Rever, a …

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 …