Business

Forty four out of 49 property stocks listed on the Ho Chi Minh Stock Exchange have lost this year, 31 by half or more, leaving investors counting their losses. Even the chairpersons of some of these firms have been affected personally. Securities firms have recently force sold many shares held …

Vietnam’s benchmark VN-Index rose 0.40% to 985.59 points Wednesday, up by nearly 4 points. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 0.19% to VND10.39 trillion ($417.82 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 19 tickers gain. POW of electricity producer Petrovietnam Power …

The second auction of former FLC chairman Trinh Van Quyet’s Rolls-Royce attracted zero bidders, with the option of a third as yet uncertain. Auction house Minh Phap said Wednesday that no one put down a 20% deposit for the VND9.7 billion ($390,076) gold-plated Rolls-Royce Ghost, even though its starting price …

‘Trung vit lon,’ or duck eggs with embryos inside, has been listed among the 10 “worst rated egg dishes” in the world by international food magazine TasteAtlas. The food is popular among several Southeast Asian countries including Vietnam, and is often internationally known by its Filipino name “balut.” In Vietnam, …

Vietnam’s central bank on Tuesday asked commercial banks to provide sufficient loans to fuel importers, as authorities try to avert a fuel supply crunch. The country of 98 million people has faced fuel shortages in recent weeks, with hundreds of petrol stations in major cities shutting down or limiting sales …

The Ministry of Finance has agreed to factor in an increase in the transportation cost of importing fuel, which will enable a hike in retail prices. The costs will now be VND290-560 (1.2-2.3 cents) higher for a liter of gas and VND160-660 for diesel, and reflected in retail prices from …

Thai company EGATi has called off its proposed 1,320-megawatt coal-fired power plant in Quang Tri due to lack of funding and Vietnam’s new clean energy commitments. It has informed authorities in the central province it will no longer pursue the VND50-trillion (US$2 billion) project, which was approved in 2013 but …

Vietnam’s garment industry is expected to face a decline in orders from its key markets over the next two quarters, the country’s textile and apparel association said on Monday, amid high inflation that is dampening global demand. Textiles and garments are the Southeast Asian country’s second-largest export earner, after smartphones. …

Three months after leaving Bamboo Airways, Dang Tat Thang has taken over as vice chairman and deputy CEO of conglomerate TNG Holdings. Thang will manage the external affairs of TNG Group and its various subsidiaries, and directly manage TNS and TNH, which have interests in investment, hotel management, trading, and …

With the way liquidity has been plunging in Vietnam’s property market, it could experience a recession next year, says Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (HoREA). “A number of property companies are facing the risk of falling liquidity and might have to make …