Business

Property developer Novaland is set to restructure itself by selecting a new board led by NovaGroup chairman Bui Thanh Nhon. Nhon, a former Vietnamese billionaire, said he wanted to return to the Novaland chair because a “businessman needs to face difficulties and challenges,” according to a statement issued by Novaland …

Vietnam’s benchmark VN-Index rose 1.58% to 1048.42 points Wednesday, its fifth straight session in the green. The index closed 16.26 points higher after gaining 26.47 points on Tuesday. It has gain over 100 points since November 24. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 2.67% to …

Huyen has provided for her family by working at least 6 days a week, usually more than 8 hours a day, for a decade. But this month, for the first time in 10 years, she had weekends off and barely got in 40 hours of work Monday-Friday. However, she and …

Pumping money into the financial market might be needed now to save businesses, but the long-term imperative is to regain investors’ faith after the recent bond frauds, analysts said. The economy was expected to bounce back in 2022 from the Covid-19 woes of the previous two years, but businesses are …

The government plans to divest its stakes in 141 companies and privatize 19 of others by 2025. According to a decision on restructuring SOEs in the 2022-25 period announced Tuesday, the government will retain its stakes in 126 SOEs and 195 one-member limited liability companies, and restructure 26 others. The …

Stock brokerages have forced NovaGroup chairman Bui Thanh Nhon’s wife to sell 29 million shares of Novaland, reducing her stake in it by a third. Cao Thi Ngoc Suong’s ownership has fallen from 4.27% to 2.78%, according to a company filing, which did not specify why she was forced to …

Prices of gold bars branded SJC on Wednesday decreased 0.15% from the previous day to VND67.1 million ($2,722.11) per tael. But gold ring prices went up 0.28% to VND54.15 million per tael. A tael is equal to 37.5 grams or 1.2 ounces. Global spot gold was up 0.1% at $1,751.89 …

The U.S. dollar plunges at commercial banks Wednesday morning, with Vietinbank selling it at VND24,785, down 0.26% from Tuesday. It dropped 0.20% to VND24,800 at Vietcombank, and 0.28% to VND24,770 at Eximbank. The State Bank of Vietnam set the reference rate 0.01% lower at VND23,665. The greenback is sold at …

Conglomerate Masan Group has received a syndicated loan of US$600 million at 6.7% interest from international financial institutions. The five-year loan was arranged by BNP Paribas, Credit Suisse, HSBC, and Standard Chartered Bank from a consortium of 37 financial institutions. Masan said improved business results in the consumer and retail …

Many apartment projects have stalled due to lack of funds caused by credit tightening and higher interest rates, leaving buyers in trouble. Thao, a migrant worker, has been waiting for three years for an apartment at the D’s Gold apar in HCMC’s Binh Tan District. She has paid VND700 million …