Bamboo Airways and Petrolimex’s subsidiaries sign MoU Bamboo Airways Company Limited, a member of FLC Group, signed a memorandum of understanding (MoU) for co-operation with the Petrolimex Insurance Company (PJICO) and Petrolimex Aviation Fuel Joint Stock Company. The MoU was signed last week in the central province of Thanh Hoa. Under the terms, Bamboo Airways would give priority to use non-life insurance products of PJICO such as airplane insurance, airline liability insurance, machinery insurance and others as well as aviation fuel of Petrolimex. Meanwhile, the two subsidiaries of Petrolimex would give priorities to use airlines services of Bamboo. Speaking at the signing ceremony, Pham Van Thanh, Petrolimex’s chairman, said Petrolimex has been a member of the Joint Inspection Group (JIG), the world-leading organisation for the development of aviation fuel supply standards. "We committed to provide preferential to Bamboo Airways in its earlier … [Read more...] about BUSINESS NEWS IN BRIEF 23/11
No health questions life insurance
Illustration by Trịnh LậpViet Nam News By Hoàng Hồ After an incredible fight, actress Mai Phương, who has been receiving special treatment for aggressive lung cancer, has been discharged from Military Hospital 175 into the loving arms of friends, family, fans and colleagues. Although the battle against cancer is not over, with Phương facing many more hospital visits and follow-up appointments, her journey has been remarkable and inspirational. Since the first days of her treatment, the hospital has welcomed visits from many celebrities to help and encourage Phương. With continuous updates on the media and thousands of messages from fans on Facebook around Việt Nam, everything seemed to be going well, until actor Gia Bảo – a close friend of Phương’s, spoke up and caused some ripples. “If you don’t have a close relationship with the patient, you can just … [Read more...] about How much does sympathy really cost?
Thin capitalisation is preventing banks from offering sufficient long-term loans to the local business community, Photo: Le Toan Thin capitalisation Many Vietnamese businesses are struggling with a debt-to-equity ratio that is too high to thrive at present. Some will eventually manage the high cost of borrowing to make earnings, while others could be making losses for a year, hoping to pull through in the next. Deputy Prime Minister Vuong Dinh Hue, at the Vietnam Economic Forum on the Capital-Finance Market held in Hanoi last week, cited data by the General Statistics Office of Vietnam showing that 53 per cent of businesses operating in Vietnam made no profit in the year ending on December 31, 2016, and they thus could not fulfil their corporate tax obligations to the country. Although the proportion of those making a profit for the year had significantly improved from the 30 per cent recorded in previous years, Hue nevertheless asked the question: “For an economy in which up … [Read more...] about Capital market in need of FIE boost
VietNamNet Bridge – A number of drivers who used to work with the ride-hailing company Uber say they are uncertain about their futures after the company closed here last week. UberMOTO drivers march in Hanoi on April 8 to mark the last day of the ride-sharing company in Vietnam. — VNS Photo Khoa Thu UberMOTO driver Tien Sy had only worked for the company for a month in Hanoi, but says he feels his whole life has fallen apart now they have closed. “I had a stable source of customers with Uber and was able to make ends meet. I am so disappointed that the company is now closed in Vietnam,” he said. Uber officially closed in Vietnam on April 8, two weeks after it announced its withdrawal from the market in exchange for a 27.5 per cent stake in its Singapore-based rival, Grab. The two weeks’ notice Uber gave its drivers and employees seems not enough to prepare them for the sudden change. UberMOTO driver Nguyen Thi Kim Cuong in HCM City said … [Read more...] about Drivers struggle after Uber calls time in Vietnam
UberMOTO drivers march in Hà Nội on April 8 to mark the last day of the ride-sharing company in Việt Nam. - VNS Photo Khoa Thư UberMOTO driver Tiến Sỹ had only worked for the company for a month in Hà Nội, but says he feels his whole life has fallen apart now they have closed. “I had a stable source of customers with Uber and was able to make ends meet. I am so disappointed that the company is now closed in Việt Nam,” he said. Uber officially closed in Việt Nam on April 8, two weeks after it announced its withdrawal from the market in exchange for a 27.5 per cent stake in its Singapore-based rival, Grab. The two weeks’ notice Uber gave its drivers and employees seems not enough to prepare them for the sudden change. UberMOTO driver Nguyễn Thị Kim Cương in HCM City said she was not ready to switch to other ride-hailing services. “People told me there were other similar companies out … [Read more...] about Drivers struggle after Uber calls time in Việt Nam