Customers conduct transactions at a branch of Vietcombank in Hanoi. (Photo: VNA) Hanoi (VNA) – Hoa Phat Group and four commercial banks of Vietnam have been named in this year’s Forbes list of the world’s 2,000 largest companies (Global 2000). ranking , Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ) ranks at the 950th position while Vietnam Technological and Commercial Joint Stock Bank (Techcombank) stands at 1,874th. Global 2000 recorded a total of 47.6 trillion USD in revenue, 5 trillion USD in profits, 233.7 trillion USD in assets, and 76.5 trillion USD in market capitalisation. VNA … [Read more...] about Hoa Phat Group, four Vietnamese banks among world’s 2,000 largest companies
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Hoa Phat Group listed in Forbes’ Top 2,000 largest firms in the world
Hoa Phat Group is the only Vietnamese production firm in the Top 2,000 largest companies in the world in 2022 (Global 2000). Photo courtesy of the firm Hoa Phat Group had the highest revenue and profit among five Vietnamese firms listed in the Top 2,000 largest companies in the world in 2022 (Global 2000) announced by Forbes. It is also the only Vietnamese production firm in the list. Forbes collected the latest financial data as of April 22, 2022 to rank businesses globally according to four criteria including revenue, net profit, total assets and market capitalisation. The other Vietnamese firms included in the list are all banks: Vietcombank, Vietinbank, BIDV and Techcombank. In 2021, Hoa Phat recorded VND150.8 trillion (US$6.5 billion) in revenue and reached a net profit of VND34.5 trillion for the first time, up 65 per cent and 156 per cent respectively compared to 2020. Its net profit margin in 2021 reached 23 per cent. Its total contribution to the State budget last … [Read more...] about Hoa Phat Group listed in Forbes’ Top 2,000 largest firms in the world
Việt Nam music lovers welcome vinyl record turnaround
Many Vietnamese singers and bands are choosing the more difficult and expensive option of releasing their music on vinyl records, generating grater public interest in this audio channel that is making a strong comeback. Photo courtesy of Quang Dũng HCM CITY — Việt Nam has not been an exception to the recent comeback of vinyl records, a late-1880s invention known for its rich, high-quality sound. Many music producers and artists in the country have released vinyl records to preserve and promote this sophisticated channel among a new generation of music enthusiasts. Nguyễn Ngọc Thiện, director of the Audio Space Production-Release Company, said the vinyl market was more profitable now than five to seven years ago. This is reflected in a series of vinyl products released recently. The increase in vinyl record sales marks a turning point for the music channel loved for many years by collectors in particular and music lovers in general. Honoured artist Tố Nga sprange a surprise … [Read more...] about Việt Nam music lovers welcome vinyl record turnaround
SSC prioritises stabilising solutions for stock market
Viet Nam's stock market is in a strong correction, down nearly 19 per cent since its peak in early April. — Photo tinnhanhchungkhoan.vn The State Securities Commission (SSC) is closely monitoring the developments of the economic-political situation, assessing the influence on Viet Nam's stock market in order to promptly take appropriate solutions aimed at stabilising the domestic stock market, said a representative of SSC. Viet Nam's stock market is in a strong correction, down nearly 19 per cent since its peak in early April. In a recent interview with Vietnam News Agency, a representative of the State Securities Commission (SSC) said that the domestic stock market was going through a strong adjustment period, due to the combined impact of domestic psychological factors as well as risks from the international market such as the Fed raising interest rates sharply, unresolved geopolitical tensions, inflationary pressures, sharp increases in input prices and rising energy prices. … [Read more...] about SSC prioritises stabilising solutions for stock market