Business

SJC gold prices went up 0.07% to VND67.15 million ($2,853.80) per tael Wednesday morning. Gold ring prices dropped 0.18% to VND54.2 million per tael. A tael equals 37.5 grams or 1.2 ounces. Global spot gold held its ground at $1,838.69 per ounce on Wednesday, as investors awaited minutes from the …

The U.S. dollar slipped marginally against the Vietnamese dong Wednesday morning. Vietcombank sold the dollar at VND23,670, down 0.08% from Tuesday. The rate at Techcombank was at VND23,695, down 0.02%. Eximbank sold the greenback 0.08% higher at VND23,680. The State Bank of Vietnam set its reference rate at VND23,603, down …

Loic Michel Marc Faussier is the new CEO of SeABank. The bank has appointed the Frenchman, who used to be deputy general manager, for a period of two years six months after Le Thuy resigned as CEO in July last year. Faussier, 50, who has master’s degrees in finance and …

The Singapore-based United Overseas Bank (UOB) has kept its forecast for Vietnam’s GDP growth in 2023 unchanged at 6.6% in line with the official forecast of 6.5%, although growth momentum is likely to be weaker. In its report on Vietnam’s economic growth in the last quarter of 2022 and prospects …

There are 208,300 enterprises entering the Vietnamese market or resuming their operation in 2022, up 30.3% year-on-year. According to the General Statistics Office, in 2022, 148,500 enterprises registered to be set up, with a combined capital of more than $67 billion. Meanwhile, 59,800 enterprises re-operated, up 38.8% year-on-year. A survey …

Many people borrowed money to invest in property in 2022, hoping to make quick profits but lost instead as tightened credit drove up interest rates and hit liquidity. In late 2021, Nu bought an apartment for VND2.5 billion (US$104,000) in the southern province of Binh Duong, hoping to resell it …

Gasoline prices went up Tuesday for the second time this year. The price of the popular fuel RON95 went up 1.6% to VND22,150 ($0.94) per liter. E5 RON92 price also rose 1.6% to VND21,350. Diesel price stayed unchanged at VND22,150. This is the second fuel hike in three days. The …

The U.S. dollar dropped at banks but gained at unofficial exchange points Tuesday afternoon. Vietcombank sold the dollar at VND23,660, down 0.29% from Monday. Eximbank sold the greenback at VND23,630, 0.30% lower. The rate at Techcombank is VND23,675, down 0.36%, and at ACB is VND23,800, down 0.13%. The State Bank …

Vietnam’s benchmark VN-Index surged 3.66% on Tuesday, the first session of 2023, to a two-week high of 1,043.9 points. The index closed 36.8 points higher after losing 2 points on Friday, the last session of 2022. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 24.6% to VND9.25 …

Contractors building 12 sections of the North-South Expressway are worried about construction material shortages and authorities’ failure to hand over lands promptly. Work on the 12 sections in phase 2 (2021 -25) began on Jan. 1 in various places, and are scheduled to be completed within three years. Vinaconex, which …