Business

Leading steelmaker Hoa Phat made a loss of VND1.79 trillion ($73 million) in the third quarter, its first quarterly loss in 13 years. It reported revenues of VND34.44 trillion in the quarter, down 12% from the same period last year and 8% from the previous quarter. Its revenues have been …

Housing developer Vinhomes made consolidated pre-tax profits of VND18.949 trillion (US$764.1 million) in the third quarter for a year-on-year increase of 37%. Sales exceeded VND30.7 trillion, up 35%, its latest financial statements show. In the third quarter, the company began handover of 1,300 villas at a project in the northern …

The four state-owned lenders, Vietcombank, BIDV, Vietinbank and Agribank, have hiked their deposit interest rates by 0.8-1.3 percentage points. After remaining steady for three months, their rates have climbed to 4.9% for one-month deposits made at transactions offices, 5.4% for three months, at least 6% for six and nine months, …

A consultancy consortium has proposed that Vietnam considers a 250 kph North South railway over a 350-kph equivalent as the former carries less financial risk and higher chances of recouping investment. The consortium of four companies said in a pre-feasibility report submitted to the Ministry of Transport that although the …

URC Vietnam Co., Ltd. promotes practical social programs toward sustainable development and comprehensive growth. After nearly 20 years of development in the Vietnamese market, URC Vietnam Co., Ltd. never stops “giving” through a variety of social activities including awarding scholarships, providing warm clothes to children in mountainous areas, giving rice …

HCMC’s industrial parks and export processing zones are expected to see investment per hectare increase by 2.4 times by 2025, a senior official has said. At a meeting held Thursday to review their performance since, head of the HCMC Export Processing and Industrial Zones Authority (HEPZA), Hua Quoc Hung, said …

Vietnam’s benchmark VN-Index dropped 0.06 percent to 1027.36 points Friday with foreign net sale surging 18 times. The index closed 0.65 points lower after gaining 34.65 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 20% to VND13.35 trillion ($537.55 million). Foreign investors were net …

The U.S. dollar fell against the Vietnamese dong at unofficial exchange points Friday after a rising streak. It was sold 0.18% lower from Thursday at VND25,280, having been rising for the last several weeks. Commercial banks, however, kept the rate unchanged. Vietcombank sold the dollar for VND24,877. It has gained …

Retail property firm Vincom Retail saw post-tax profit surge 33 times year-on-year to VND793.63 billion ($31.96 million) thanks to a recovery in domestic consumption. The company said its revenue rose 225% to VND2 trillion as big retail brands have been opening outlets in its Vincom malls, such as Trung Nguyen …

Serviced apartments for rent in HCMC saw an occupancy rate of 78% in the third quarter, gradually approaching pre-Covid levels, according to Savills Vietnam. A Savills Vietnam report says 813 serviced apartments were rented in the third quarter for an average rent of VND521,000 ($21) per square meter per month. …