Business

State Bank of Vietnam cuts some interest rates

State Bank of Vietnam cuts some interest rates

The State Bank of Vietnam (SBV) on August 6 announced its decision on cutting some policy rates with immediate effect, the second time this year following the adjustment on March 16.

HCM City supports tourism businesses in face of COVID-19

Authorities of the southern metropolis of Ho Chi Minh City are continuously taking preventive measures to ensure safety for tourists while supporting travel businesses to overcome difficulties and devising policies to promote tourism for the post-pandemic period.

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Vietnam Airlines plans to sell off aircraft to save losses

Vietnam Airlines are planning to sell nine planes as the company is facing big losses due to Covid-19 outbreak.

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Foreign firms to gain greater footing in petrol retail market

New policies are in the making to allow foreign firms to gain greater footing in Vietnam's petrol retail market, according to the Ministry of Industry and Trade (MoIT).

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Dozens of tonnes of Vietnamese longan enter Australia over past few weeks

Dozens of tonnes of Vietnamese longans have been exported to Australia and distributed in the states of South Australia and Western Australia over the past few weeks.

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Kiên Giang expands breeding of bivalve mollusks

The cultivation of bivalve mollusks in Kiên Giang Province’s coastal areas has developed rapidly in the last decade, improving farmers' incomes.

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Toyota warns of 64% drop in full-year net profit

Toyota on Thursday warned of a 64 percent drop in full-year net profit and reported a slump in quarterly earnings, as the coronavirus pandemic shreds the global auto market.

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ASEAN+3 Finance and Central Bank Deputies’ Meeting held

The ASEAN+3 Finance and Central Bank Deputies’ Meeting (AFCDM+3) took place in Ha Noi on August 5.

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As many as 706 enterprises, 85 percent of 832 listed companies on the Vietnamese stock market, generated profits during the third quarter of this year.

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The Government’s foreign debts have been declining sharply and under the Government’s control, Deputy Prime Minister Vuong Dinh Hue said while chairing a meeting with leaders of some ministries, sectors and the National Financial Supervisory Commission.

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Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen

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Vietnam had 12,327 people with USD3 million to below USD30 million in net assets by the end of 2018, up 23% over the past five years and the figure is projected to reach 15,776 people by 2023.

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Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.

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Vietnam has set a target to restrain inflation at below 4% in 2019, however, there may be challenges.

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