Business

Insurance companies reported double-digit falls in profits for the second quarter despite rising revenues after their securities market investments returned losses. Baoviet Insurance, the biggest player, saw profits plummet by 28% year-on-year to VND317 billion ($13.55 million). Petrolimex Joint Stock Insurance Company (PJICO)’s profits tumbled by 30% to VND73.9 billion, …

A bowl of beef pho continues to cost VND45,000 ($1.92) despite gasoline prices falling several times in less than two months, says office worker Hoa. “They said they have to raise prices because of fuel costs. Now gasoline prices have fallen, but their pho still costs me the same”, said …

South Korean musician/singer Joseph Kwon on Wednesday introduced his latest MV filmed at a series of popular tourist destinations across Vietnam. The MV called “Waiting for You – 5000 Years” showed off the beauty of Cuc Phuong National Park, Trang An Tourist Area, Tam Chuc Pagoda, Ba Be Lake, Ha …

The lack of credit is one of the biggest challenges companies face as banks have nearly exhausted their credit quotas while funding is needed to boost post-pandemic recovery, business leaders said. Although textile and garment exports in the first seven months rose 16 percent year-on-year to $26.5 billion, many companies …

Vietnam’s benchmark VN-Index dropped 0.35 percent to 1,252.07 points Thursday with trading highest since May 13. The index closed 4.43 points lower after losing 2.35 points Wednesday. Trading on the Ho Chi Minh Stock Exchange rose by 30.46% to VND18.78 trillion ($802.8 million). The VN-30 basket, comprising the 30 largest …

Vietnam gasoline prices on Thursday dropped 3.6-3.8% to the lowest since Feb. 11 as global rates kept falling. A liter of popular RON 95 gasoline now costs VND24,660 ($1.05), down VND940, while that of biofuel E5 RON 95 costs VND23,720, down VND900. Thursday’s was the fifth consecutive downward adjustment made …

Auto sales resumed in July with 30,254 units sold, up 20% from June, showing signs of recovery. The increase came after June sales plunged to a three-month low as the government’s decree to cut registration fee by 50% ended in May. The multi-utility vehicle Mitsubishi Xpander was the best selling …

State-owned Saigon Jewelry Company targets pre-tax profits of VND60 billion ($2.6 million) on revenues of VND18.8 trillion this year, up 7% and 6% from last year. Its targeted net profit margin is only 0.25%, much lower than the 5.11% for competitor Phu Nhuan Jewelry. This year the government tasked SJC …

Nguyen Thai Hai Van has been appointed the first Country Director of Apple Vietnam, a source has confirmed. While no official announcement has been made, Van’s LinkedIn profile says without disclosing details that she has been holding the post since May, 2022; and some of Apple’s authorized retailers told VnExpress …

Plunging cryptocurrencies and increasing reports of fraud are chasing people away from play-to-earn games as they abandon their dreams of getting rich quick. “I am tired of this game. Its token value is plunging and there is no sign of recovery,” said Tuan Anh, an Axie Infinity player in Ho …