Business

The U.S. dollar plunges at commercial banks Tuesday afternoon but gained on the black market. Vietcombank sold the dollar at VND23,750 Tuesday, down 0.38% from Monday. Eximbank sold the greenback at VND23,750, down 0.71%. The rate at Techcombank is VND23,770, down 0.71%. The State Bank of Vietnam maintained its reference …

Grab Vietnam has appointed Alejandro Osorio as its new managing director as part of its drive to achieve “robust sustainable growth” in its local operation. Osorio, an American who has worked for Grab for five years, previously served as director for regional strategy and planning, operations, and most recently was …

Over 4,000 people have lost money and have fallen into debt as a result of investing in projects run by property developer Alibaba, based in Ho Chi Minh City, which have been found to exist only on paper. Ngo Hung Duyet, 66, traveled all the way from Da Nang to …

Seventy kite surfers from 15 countries will arrive in the south-central province of Ninh Thuan next week for a water sport festival. The kite surfing, in which people move across water by standing on a board and holding onto the strings of a large kite, will take place along My …

The Ministry of Public Security has begun an investigation of Pham Thanh Tung, chairman of securities brokerage Tri Viet, for alleged manipulation of stocks. Tung, 43, was reportedly involved in the manipulation of Louis Land (BII) shares on the Hanoi Stock Exchange and Louis Capital (TGG) shares on the Ho …

Prime Minister Pham Minh Chinh has called on banks to cut costs to be able to reduce loan interest rates and help boost economic recovery. He instructed the State Bank of Vietnam to get banks to speed up disbursement of loan subsidies. “Credit should be given to priority sectors such …

With Apple discontinuing production of the iPhone 13 Pro and 13 Pro Max smartphones, stocks available with Vietnamese retailers are very low and only enough for sales in December. Now mostly phones with a large memory remain with Apple authorized resellers like FPT Shop, CellphoneS and Di Dong Viet. Nguyen …

Global public and private debt saw its biggest drop in 70 years in 2021 after reaching record highs because of the impacts of COVID-19, but overall remained well above pre-pandemic levels, the International Monetary Fund said on Monday. In a blog released with its inaugural Global Debt Monitor, the IMF …

Authorities in the northern border town of Mong Cai are preparing plans to welcome back tourists from neighboring China during Tet, Vietnam’s biggest holiday. The moves come as China has loosened its pandemic prevention policies and eased travel restrictions, hinting that it may soon allow its nationals to travel abroad …

Some 130,000 workers at Taiwanese-invested footwear maker Pou Chen Vietnam, a contract manufacturer for giants like Nike, Adidas and Puma, will enjoy a 30% increase in Tet bonuses this year. That puts the annual windfall for employees at the global shoe supplier back to pre-Covid levels. Eight Pou Chen Vietnam …