Business

Vietcombank, Vietnam’s biggest state-owned lender, named Nguyen Thanh Tung, its deputy general director, to be its new general director on Monday. Tung was also elected to become a member of Vietcombank’s board of directors for the 2018-2023 term at the bank’s extraordinary shareholders’ meeting held the same day. Tung, 49, …

Saigon Beer brewer Sabeco saw revenue jump 33% from 2021 to VND35.24 trillion ($1.5 billion) last year as consumption bounced back after two years of Covid-19. The brewer’s post-tax profit surged nearly 40% to VND5.5 trillion, the highest level since it was sold to ThaiBev in 2017. “The company has …

The government has extended the 30% cut in land-use fee it made last year for one more year to support economic recovery. Green-lighting a proposal made by the Ministry of Finance two weeks ago, it said this year many sectors such as property, agriculture and mining are set to face …

After the four state-run banks announced profits of around the US$1-billion mark for 2022, private lenders Techcombank and VPBank have followed suit. Top private bank Techcombank reported a 10% rise in pre-tax profits to VND25.6 trillion ($1.08 billion) to rank second behind only public sector giant Vietcombank. Its net interest …

Vietnam’s benchmark VN-Index rose 0.78% to 1,111.18 points Tuesday after dipping in the previous session. The index closed 8.61 points higher after losing 14.53 points on Monday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 0.20% to VND13.60 trillion ($580.12 million). The VN-30 basket, comprising the 30 …

Between 2013 and 2022, gold prices often surged in the two weeks leading up to the God of Wealth Day and then fell right after as demand declined. In the last 10 years there were eight years when gold prices started to rise two weeks before the God of Wealth …

Con Dao Island, off the coast of southern Vietnam, has been voted as one of 16 best destinations for summer getaways by Condé Nast Traveler, a luxury travel magazine. “Con Dao is a smaller island with very little commercial development,” the magazine said. “With this, the beaches are quiet and …

The U.S. dollar inched up against the Vietnamese dong on the black market on Tuesday morning. Unofficial exchange points sold the greenback at VND23,560, up 0.08% from Monday. The dollar, however, remained steady at banks. Vietcombank’s rate remained unchanged at VND23,620. Techcombank’s rate was also stable at VND23,622. Eximbank sold …

SJC gold price rose 0.59% to VND67.8 million ($2,891.26) per tael Tuesday, the God of Wealth Day when demand for the metal often rises. But gold ring price fell 0.71% to VND55.7 million per tael. A tael equals 37.5 grams or 1.2 ounces. Buying gold on the God of Wealth …

Apple-supplier Jabil Inc’s India unit has begun making components for AirPods in the country and is shipping plastic bodies or enclosures for AirPods to China and Vietnam, Bloomberg News reported on Sunday, citing people familiar with the matter. Apple Inc and Jabil did not immediately respond to a Reuters request …