Việt Nam News

More and more banks are entering the e-wallet business as they see huge growth potential in the wake of the Government’s plan to reduce cash payments to below 10 per cent of all transactions by 2020.

The State Treasury of Việt Nam collected VNĐ2 trillion (US$85.65 million) through Government bond auctions at the Hà Nội Stock Exchange (HNX) on Wednesday.

The Việt Nam Technological and Commercial Joint Stock Bank (Techcombank)’s pre-tax profits hit VNĐ7.77 trillion (US$332.9 million) in the first nine months of the year, posting 61 per cent increase over the same period last year.

The Government should develop Hà Nội and HCM City into financial centres as local businesses lack capital markets, National Assembly (NA) deputy Phạm Phú Quốc said on Tuesday.

Global uncertainties, such as the impacts of the Fed’s rate hikes and the spiralling US-China trade war, have triggered questions about whether the lending interest rate in Vietnamese đồng will increase and in what direction foreign exchange rates will move.

More than 70 Vietnamese and 120 foreign firms are showcasing advanced wood-processing technology, machinery and raw materials at the Việt Nam BIFA Wood 2018 exhibition which opened on Wednesday in Bình Dương Province. 

With the US-China trade war escalating, Việt Nam may be able to increase exports of items like furniture, agricultural products, and leather products to the US, a conference heard in HCM City yesterday.

Bottom purchase demand increased towards the end of Thursday’s trading session while selling pressure lessened, helping narrow the market’s downward trend significantly.

Strong growth of local fisheries production and exports has helped many listed firms increase profits, with some even hitting their yearly profit targets in only nine months.

Việt Nam’s benchmark VN Index fell for a fifth straight session on Wednesday, dragged down by oil stocks amid low liquidity and investors’ worries over the market’s short term prospects.

An online travel portal, intended to better advertise Vietnamese tourism and facilitate domestic and international visitors, will debut in December.

National carrier Vietnam Airlines plans to replace its fleet of ATR aircraft with new-generation regional jet aircraft containing about 100 seats in order to improve the efficiency of operation and service quality on short routes.

The Việt Nam Chamber of Commerce and Industry (VCCI) has proposed removing conditions for 22 business sectors including rice export, trade arbitration, accounting services, debt purchasing, customs procedures and logistics services.

Vietjet is offering two million super-promotional airfares with a price starting from zero đồng from Wednesday to Friday in a move to welcome the exciting traveling season, the airline announced on Tuesday.

The Ministry of Industry and Trade plans to announce the 2018 national brands in December.

 IBM announced the appointment of Tan Jee Toon as the Country General Manager of IBM Việt Nam on Wednesday.

Gross capital formation in the last three years in the Mekong Delta city of Cần Thơ was VNĐ157 trillion (US$6.82 billion).

Many banks have reported good business performance in the first nine months of the year thanks to decreasing provision costs and rising income from services.