Business

Petrol retailers get no commissions now, and say the more they sell the more they lose, and want wholesalers to help them cover costs. Since August 22, when the latest adjustments in petrol and oil retail prices were made, supply has become scarcer in some localities. Many gas stations have …

Vietnam is the second biggest cryptocurrency market in ASEAN behind Thailand with a transaction value exceeding $100 million a year, a new report has found. It was followed by Singapore, the Philippines, and Indonesia, according to a report by cryptocurrency data provider Chainalysis. Vietnam, along with Thailand and the Philippines, …

Vietnam’s benchmark VN-Index rose 0.34% to 1,214.7 points Thursday, with foreign investors’ net sale highest in 11 weeks. The index closed 4.15 points higher after losing 8.38 points on Wednesday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 19.36% to VND11.67 trillion. Foreign investors were net sellers …

A group of tourism representatives and reporters from India visited Hue’s iconic attractions this week as the former imperial capital seeks to tap into the Indian market. As part of its tourism promotion campaign, Thua Thien-Hue authorities invited 15 representatives of Indian travel and media agencies to explore the Imperial …

Prime Minister Pham Minh Chinh has asked the central bank to consider lifting up policy rates in response to the U.S. Federal Reserve’s latest rate hike. The State Bank of Vietnam (SBV) needs to ensure macroeconomic stability, control inflation and boost growth in its decision, and strive to keep loan …

The dollar rose to a new high of 23,840 dong Thursday morning, having gained over 4% this year against the Vietnamese currency as the U.S. continues to hike rates. State giants Vietcombank and BIDV sold the greenback at VND23,840, up 0.04% from Wednesday. The State Bank of Vietnam (SBV) fixed …

Vietnam earned US$730 million from tuna exports in the first eight months of this year, up 55%, according to the General Department of Vietnam Customs. In August alone, tuna exports were worth US$92 million, a year-on-year surge of 86%. Shipments to major markets including the U.S., the EU, Canada, Japan, …

Coffee giant Trung Nguyen Legend has opened its first global store in Shanghai as part of its endeavor to boost Vietnamese coffee on the global stage. The store, located at Taikoo Hui, a vibrant area in China’s biggest city, was opened Wednesday after Trung Nguyen Legend set up a representative …

An airport with a capacity of one million passengers a year will cost VND3-5 trillion (US$127.6-212.7 million) but have a payback period of 40-50 years, according to analysts. Many provinces like Son La, Tuyen Quang and Lao Cai in the north, Ninh Thuan and Quang Tri in the central region, …

Hanoi needs VND21 trillion (US$886.53 million) to replace its 1,100 gasoline-fueled buses with electric vehicles by 2025 to reduce emissions. Transerco, the city bus operator, said the range is a concern since electric buses could run 250-300 kilometers on a full charge while many of the city’s buses run more …