Business

Several banks have increased mortgage interest rates by up to 1 percentage point amid credit tightening. In mid-June Vietcombank hiked its from 9.2 percent to 9.8 percent for the first three years. At least three other banks have increased its rates. United Overseas Bank has raised its rate from 6.49 …

Automaker VinFast has stopped accepting new orders for gasoline-powered cars four months earlier than announced as it seeks to become a major global player in electronic vehicles. It has received a huge number of orders for its Lux SUV and sedan and Fadil hatchback, and plans to keep the production …

Housing prices in HCMC rose to new highs after climbing by up to 25 percent quarter-on-quarter, according to real estate consultancy Cushman & Wakefield. Houses and villas now cost US$9,300 and $11,300 a square meter on average. Consultancy DKRA Vietnam said a villa project has set a new record of …

E-wallets are expected to be the future of e-commerce, while warehouse solutions are critical investments that enhance user experience. With the pandemic seemingly under control, a change in consumer behavior is evident. Shoppers relied exclusively on online retailers throughout quarantine, but even as restrictions were lifted, consumers continued to make …

Gold prices in Vietnam have plunged to a four-month low as global rates tumbled amid the surge of the U.S. dollar. The Saigon Jewelry Company (SJC) sold its gold at VND67.95 million ($2,897.03) per tael Friday afternoon, down 0.37 percent from Thursday. A tael equals 37.5 grams or 1.2 ounces. …

Readers of U.S. magazine Travel + Leisure have included Six Senses Con Dao in southern Vietnam in a list of 15 best resorts in Asia. With an overall rating of 96.8 out of 100, the five-star resort in the Con Dao archipelago off the southern coast finished at the bottom …

Property credit increased by over 12 percent in the first five months, a higher growth rate than that of the same period in previous years, the central bank has assured. Of the VND2,330 trillion ($98.07 billion) in property loans, two thirds went to personal purchase, and the rest to development, …

Prime Minister Pham Minh Chinh has called for “flexibility” in providing credit to the property sector. The industry plays an important role in stabilizing the economy, controlling inflation and promoting growth, and so it is imperative to develop it in a safe and sustainable manner, he said at a conference …

A unit of conglomerate Masan has invested 45 million pounds ($53 million) into U.K.-based fast-charging battery maker Nyobolt Limited for a 15 percent stake. H.C. Starck Tungsten Powders, a wholly owned subsidiary of Masan High-Tech Materials, stated Friday that the investment marks a milestone in its strategy to get closer …

Vietnam’s benchmark VN-Index dropped 0.25 percent to 1179.25 points Friday with trading highest in eight sessions. The index closed 2.9 points lower after gaining over eight points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by nearly 20 percent to VND13.12 trillion ($559.49 million), highest since …