Insurance drop at 25

Hanoi (VNA) - The Binh Son Refining and Petrochemical Joint Stock Company (BSR) posted over 1.25 trillion VND (54.14 million USD) in after-tax profit in the fourth quarter of 2020, up 1.08 trillion VND over the previous quarter, reflecting its better business performance. According to its financial report for 2020, though it posted negative growth for the year as a whole, its indications in cash flow for payments and operations remained stable. As of the end of 2020, its total property was worth 54.53 trillion VND, an increase of 2.31 trillion VND against 2019. The company basically completed all of its targets in 2020. It operated the Dung Quat Oil Refinery in a safe and stable manner, with average operational capacity standing at 105 percent and total output at about 5.95 million tonnes, surpassing the target by 7 percent. Total revenue hit more than 57.89 trillion VND last year, while State budget contributions totalled 6.24 trillion VND. It cut costs by about 1.8 trillion VND … [Read more...] about BSR posts after-tax profit of over 1.25 trillion VND in Q4 2020

Steelmaker HPG rose 0.2% to VND41,700 and was the most actively traded stock in the group of large-cap stocks, with 37.9 million shares changing hands. Bank stocks STB and TCB also had good liquidity, with 34.4 million and 25.77 million shares transacted, respectively. … [Read more...] about VN-Index recovers slightly after steep fall

On December 31, 2020, the government issued Decree No.153/2020/ND-CP, regulating the offering and transactions of corporate bonds through private placement in the domestic market and the offering of corporate bonds to foreign markets, to replace Decree 163 and Decree 81. This new decree, which became effective on January 1, continually tightens regulations on the issuance of corporate bonds with more specific provisions. … [Read more...] about Impressive 2020 for Vietnam’s corporate bond market

Retail sales grew at 9.4% year-on-year in December 2020, the highest growth rate since February 2020. Growth was driven by domestic demand, with the retail sales of goods 13.8% higher than that of the same period of 2019. On the other hand, with international travel restrictions, sales of accommodation and catering and traveling services in December 2020 fell 5.4% and 68.2%, respectively. … [Read more...] about Vietnam one of fastest growing economies amid pandemic: WB

Economists say many companies and corporations are accelerating their efforts to relocate production out of China. Facing a shift in investment from China to other countries, with Vietnam featuring prominently on their radar, many domestic enterprises are paying great attention to investment in infrastructure development, especially building industrial zones associated with new urban areas. … [Read more...] about Bright outlook for Vietnam’s economy despite Covid-19 setback