Business

The Government Inspectorate has launched an investigation into 15 gasoline suppliers and two refinery operators with a focus on their operations in the past 4.5 years. The ministry-level agency will investigate these companies for 60 days starting Thursday. The scope of the investigation is from January 2017 to June this …

State-owned enterprises reported mixed results last year, with some making millions of dollars in profits and others suffering similar losses, according to a government report. The combined pre-tax profits of 826 companies, of which more than half are wholly state-owned, increased by 25% from 2020 to VND198.67 trillion (US$8.23 billion). …

Interest rates on bank deposits have surged back to the pre-Covid levels, with VietABank offering the highest rate of 8.7%. Since late September 25 out of 36 banks surveyed by VnExpress have increased interest on term deposits, with eight raising them across the board. The average rates for six-month deposits …

The recovery in the retail market post-Covid and the entry by foreign luxury brands have sent rents soaring in Hanoi, especially the downtown area. In a report CBRE Vietnam released Thursday, the property consultancy said rents increased by up to 39.5% year-on-year in the third quarter. Space in the ground …

The Ministry of Industry and Trade has instructed the country’s two refineries to crank up gasoline production to maximum capacity as the south continues to report shortages. Nghi Son and Dung Quat have increased diesel production and cut their gasoline output in recent months as the latter fetches high profits, …

Pho, a Vietnamese noodle soup considered a national dish, ranked 34th in a list of 100 most popular dishes in the world as complied by international food magazine TasteAtlas. “It is also one of the most beloved Vietnamese dishes in the western hemisphere due to its complex, unique flavors, and …

Rising global inflation caused sales of two major seafood exporters Vinh Hoan and Sao Ta to plunge as consumers in their main markets tighten spending. Vinh Hoan, a pangasius export giant, saw September revenue plunging 28% from August to VND917 billion ($37.96 million), its biggest decline in eight months. Exports …

Authorities in popular tourist town Hue have spent VND97 billion ($4 million) to renovate an 850-meter-long street into a new pedestrian zone in a hope to enrich its nightlife. On Oct. 12, workers pruned trees along Hai Ba Trung Street in Vinh Ninh Ward, which is poised to become the …

The U.S. dollar rose to a new peak against the Vietnamese dong as the greenback continued to strengthen globally, with high U.S. inflation prompting investors to buy more of the currency. State-owned Vietcombank sold the dollar at VND24,200 in the afternoon, 0.49% higher than Tuesday. The dollar has gone up …

Shortening the gap between gasoline price adjustments is necessary to ensure a more flexible market intervention to prevent shortages, Prime Minister Pham Minh Chinh said. This is one solution authorities are studying in response to recent problems on the market, mostly caused by the lack of efficient cooperation between government …