A steel mill of Hòa Phát Group. The business shares lost 2.9 per cent on Monday. — Photo courtesy of Hòa Phát Group JSC HÀ NỘI — Việt Nam’s benchmark VN-Index failed to beat the 1,000 points again amid lack of supportive corporate news and large-cap stocks declining after strong gains last week. The VN-Index on the Hồ Chí Minh Stock Exchange fell 0.47 per cent to close Monday at 985.75 points. The VN-Index gained total 0.32 per cent last week. More than 207.5 million shares were traded on the southern bourse, worth VNĐ5.28 trillion (US$227.4 million). The southern market was shadowed by negative sentiment as the three major indices classifying stocks by market capitalisation and trading liquidity dropped by 0.51-0.97 per cent. The large-cap VN30-Index lost 0.57 per cent with 20 of the 30 largest stocks in the basket losing ground. Among decliners were tech group FPT Corp (FPT), retailer Mobile … [Read more...] about VN-Index declines as corporates short of good news
Corporate news
BUSINESS NEWS IN BRIEF 12/12
Vietnam’s agricultural sector records progress Over the past years, Vietnam’s agricultural sector has reaped marked achievements, helping ensure national food security. Vietnamese staples such as coffee, rice, rubber, cashew nuts, pepper, fruit, seafood, wood and timber products have gained firm foothold in the global market. Statistics show that the sector’s gross domestic product (GDP) grows about 2.5 percent while its production value expands by 2.73 percent each year. During the 2013-2017 period, the sector’s total export turnover reached 153 billion USD, with 36.2 billion USD earned in 2017. Seven out of the 10 major products saw export turnover exceeding 1 billion USD. To create impressive changes in agricultural production, the Vietnam Farmers’ Union (VFU) has signed a cooperation programme with the Ministry of Science and Technology, under which the two sides join hands in implementing scientific and technological tasks … [Read more...] about BUSINESS NEWS IN BRIEF 12/12
BUSINESS NEWS IN BRIEF 11/12
Firms promote Vietnamese handicrafts in Italy Nearly 40 Vietnamese firms are introducing their handicraft products like rattan, brocade and earthware items at the 2018 L'Artigiano in Fiera in Milan, Italy. The 23rd edition of the L’ Artigiano in Fiera takes place from December 1-9. It is an international industry event that’s been celebrating artisans across the world and their creations for more than 20 years. The event is also a rendezvous for Vietnamese handicraft businesses to promote their goods, such as rattan and bamboo products, brocades to international customers in recent years. In addition, Vietnam’s conical hat is featured in the fair’s promotional video this year. Trade Counsellor of the Vietnamese Embassy in Italy Nguyen Duc Thanh said the L'Artigiano in Fiera offers opportunities for Vietnamese firms to promote their products and study market demand, as well as learn experiences in production and design to meet the demand of consumers … [Read more...] about BUSINESS NEWS IN BRIEF 11/12
BUSINESS NEWS IN BRIEF 10/12
Fayfay.com announces strategic partnership with Ho Chi Minh City tourism Hong Kong-based Fayfay.com on December 6 announced that it signed a Memorandum of Understanding (MoU) with the Ho Chi Minh City Tourism Promotion Centre to promote tourism in Vietnam, with a special focus on the city. The MoU was signed by Tran Ngoc Dong Quan, deputy director of the Ho Chi Minh City Tourism Promotion Centre, along with Kingston Lai and Kelvin Wu, the co-founders of Fayfay.com, at Bep Nha Luc Tinh Restaurant in Ho Chi Minh City, in the presence of industry experts and members of the media. “Ho Chi Minh City is an important destination on Fayfay.com and we look forward to partnering with the Ho Chi Minh City Tourism Promotion Centre to showcase the city’s vibrant architecture, rich culinary scene, and authentic local experiences,” said Lai. “We believe strategic joint promotional activities with the Tourism Promotion Centre will enable us to leverage our online platform and … [Read more...] about BUSINESS NEWS IN BRIEF 10/12
BUSINESS NEWS IN BRIEF 9/12
Online Friday kicks off with 5,000 promotional products Online Friday 2018 officially kicked off on December 7, with 5,000 products at promotional prices of 0 VND or with prices reduced by 80 to 90 percent, according to event organiser the Vietnam E-commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade. Around 3,000 businesses registered to join the programme. Around 120,000 buyers can access the website onlinefriday.vn or the Online Friday app at the same time. Many big brands participate such as Samsung, Jetstar, Vinamilk, Lazada, Shopee, Tiki, Lotte, Adayroi, The gioi di dong (Mobile World), Yes24, FPTshop and ViettelStore. Delivery businesses such as VnPost, Nijavan, Lalamove and Snailship would support firms by reducing delivery costs for the event. Twenty banks will join in cash-back programmes to help customers use card payments. To ensure product and service quality, the organiser told firms to provide certificates of origin. The organiser … [Read more...] about BUSINESS NEWS IN BRIEF 9/12