Business

Private equity firm Mekong Capital announced that its Mekong Enterprise Fund III has divested its stake in Pizza 4P’s, a chain of Japanese-owned pizza restaurants. Tokyo-based Cool Japan Fund will invest US$10 million in 4P’s Holdings Pte. Ltd., which operates Pizza 4P’s and produces cheese and other dairy products. The …

Vietnam has fallen far behind several Southeast Asian peers in this year’s global ranking as a solo travel destination, slipping to 50th among 78 destinations. In Southeast Asia, Vietnam was well behind Thailand (12th), Singapore (21st), Malaysia (33rd), the Philippines (34th) and Indonesia (39th), according to the ranking compiled by …

VinES Energy Solutions, a unit of Vietnam’s largest conglomerate Vingroup JSC and China’s Gotion High-Tech, have commenced construction of a $275 million battery factory in the Southeast Asian country, Vingroup said on Friday. The factory in the central province of Ha Tinh will annually produce 30 million lithium iron phosphate …

Major food producer KIDO has divested its entire stake in Cai Lan Oils and Fats Industries Company, the producer of cooking oil brands like Neptune, Simply and Meizan. Vocarimex, a KIDO subsidiary, has sold its 24% stake in the company for VND2.158 trillion (US$87 million) to Siteki Investment belonging to …

Tran Dinh Long, chairman of steel maker Hoa Phat, has got back the world billionaire list 9 days after falling of the list. According to Forbes’s The Real-Time Billionaires List, Long’s assets increased in value by $146 million in just 24 hours to $1.2 billion on Friday. He is listed …

Australian travel magazine Traveller has listed Hai Phong City in northern Vietnam among the world’s 10 coolest third cities that remain uncrowded. The magazine defines third cities as medium-sized and small cities of developing countries that urban growth is expected to be greatest. “Hai Phong feels a lot more relaxed …

Vietnam’s benchmark VN-Index rose 0.01% to 969.33 points Friday. The index closed 0.07 points higher after gaining 26.36 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 20.02% to VND13.70 trillion ($552.25 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 13 tickers …

Authorities of southern Dong Nai Province have revoked sales approval for 752 completed villas since the developer failed to acquire a financial guarantee certificate from a bank. Dong Nai Construction Department on Nov. 11 decided the 752 apartments in Aqua City, Bien Hoa, are no longer eligible for property transactions, …

The U.S. dollar weakens against the Vietnamese dong at both banks and unofficial exchange points Friday. Vietcombank and VIB sold the dollar at VND24,858, down 0.008% from Thursday. Eximbank let the dollar slide 0.02% to VND24,855. Unofficial exchange points sold the dollar at around VND24,938, unchanged from Thursday. The dollar …

Millions of investors, including in Vietnam, are losing money in the crypto crisis caused by cryptocurrency exchange FTX declaring bankruptcy and lender BlockFi preparing to do so. According to Bloomberg, BlockFi Inc. will file within days. The crypto lender has paused client withdrawals citing uncertainties with FTX though claiming to …