Business

Vietnam’s benchmark VN-Index rose 0.41% to 1200.84 points Wednesday, returning to this level for the first time since September. The index closed 4.94 points higher after gaining 5.18 points on Tuesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 10.85% to VND17.95 trillion ($758.15 million). The VN-30 …

Technological and Commercial Joint Stock Bank (Techcombank) is redefining banking services by using digital corporate identity and setting innovation benchmarks. The bank ended H1 with 12.2 million customers, adding around 1.4 million new customers during the period, with 45.3% acquired digitally and 43.8% through ecosystem partners. It set a record …

More than a few workers made unemployed by increasing layoffs in Vietnam recently have become motorcycle taxi drivers only to realize it’s not a lasting solution. A GrabBike driver at work in Hanoi. Photo by Reuters After starting his workday at 5 a.m., at 10 a.m. Le Van Manh had …

The U.S. dollar rose against the Vietnamese dong Wednesday morning. Vietcombank sold the dollar at VND23,835, up 0.02% from Tuesday. Eximbank raised its rate by 0.04% to VND23,830. The State Bank of Vietnam kept its reference rate stable at VND23,746. The dollar was sold at VND23,700 on the black market, …

Banks continued to cut deposit interest rates in July, capping them at 7.8%. Nearly 20 lenders made cuts averaging 0.2 percentage points. Nine others, TPBank, SHB, SeABank, SCB, BacABank, OCB, PVComBank, GPBank, and NamABank, slashed rates by 0.5-0.8 points. The highest rate now is 7.8% offered by VietBank and SaigonBank …

Giant oil refinery Nghi Son will shut down for 55 days from August 25 for its first major maintenance after nearly five years of continuous operations. Nghi Son Refinery and Petrochemical Llc in the central province of Thanh Hoa said in a statement Tuesday that it is holding discussions with …

The government has rejected a proposal by the Ministry of Finance to slap a special consumption tax on online games and sought more scientific data to tax sugary drinks. But in a recent decision, it instructed its agencies to use other legal means to limit playing time. Earlier this year …

Vietnam Technological and Commercial Joint Stock Bank reported VND4.4 trillion (USD185.9 million) in NFI revenues in the second quarter, up 4.7% year-on-year. Jens Lottner, CEO of Techcombank, said that the bank delivered steady performance during Q2. IB activities also showed pick-ups in the stock market and bond distribution volumes. The …

Banks have a lot of liquidity and will lower interest rates further, but businesses are not borrowing now amid low demand, a central bank official has said. “The State Bank of Vietnam (SBV) will lower policy rates again if needed,” its deputy governor, Dao Minh Tu, said at a meeting …

Vietnamese citizens’ net deposits at banks increased by VND14.7 trillion (US$621 million) in May, the smallest monthly growth since October last year, as interest rates decline. But by the end of May the figure was VND6.3 quadrillion, up 8.2% from the end of last year, the biggest growth recorded in …