Pham Nhat Vuong – Vingroup chairman and the richest member in the list. Photo me.news.zing.vn HA NOI (VNS)— The value of shares held by the top 20 richest stock market investors hit over VND53.5 trillion (US$2.5 billion) in May, up 8.3 per cent from the previous month. Former Sacombank (STB) chairman Dang Van Thanh and his son Dang Hong Anh left the top 20 after the bank sold their shares to clear debts. Meanwhile, Pham Nhat Vuong – Vingroup chairman and the richest member of the list – added VND1.7 trillion ($80.9 million) to have VND19.3 trillion ($0.9 billion) in assets after partnering with investment fund Warburg Pincus. In addition, steelmaker Hoa Sen (HSG) chairman Le Phuoc Vu rose to the seventh place as a result of inviting the limbless motivational speaker Nick Vujicic to Viet Nam.-VNS … [Read more...]
Experts laud Hoi An’s cultural values
HOI AN (VNS)— Experts sounded their appreciation of Hoi An's rich cultural tapestry at a seminar held on Saturday. Participants at the discussions, titled Some Lessons about the Culture of Hoi An, said that Hoi An remains a living example of ancient heritage which brings many benefits to the daily lives of its inhabitants. While Pagoda Bridge (also known as the Japanese bridge) is a well-known tourist destination, it is also used every day by residents. Additionally, they can retrieve water everyday from the town's famous ancient Cham wells. Experts also praised the role of local cultural managers and authorities in preserving this tradition. "We can research the cultural value of Hoi An by examining its appearance and development. We believe that town authorities will be able to preserve the site's original cultural traits," said writer Nguyen Ngoc. Home to approximately 120,000 inhabitants, Hoi An has been recognised as a World Heritage Site by UNESCO. It is known as an … [Read more...]
Stock lose, trading values down
Share markets in Hanoi and Ho Chi Minh City took a tumble on July 25 with both markets reporting a decline in trading value. In HCM City , the VN index fell 0.5 percent to 491.78 points, with the VN30 dropping an even further 0.75 percent to 544.15 points. At the top end of the market, the 30 biggest shares, based on market capitalisation and liquidity, reported a majority loss by 23-5. Strong performance from Vinamilk (VNM) and PetroVietnam Gas (GAS) kept losses to a minimum despite strong selling pressure across the bourse. Overall trading dropped 28.3 percent below the previous day's value to 997.16 billion VND (47 million USD) with a total volume of 42.25 million shares. On the Hanoi Stock Exchange, the HNX-Index fell 1.08 percent to 61.52 points, reporting a total trading value of 138.1 billion VND (6.5 million USD) and 19.6 million units. The HNX30 shed 1.34 percent with trade closing at 115.08 points. Meanwhile, foreign investors continued to sell off major stocks in … [Read more...]
Handicraft exports value forecast to hit record high
HA NOI (Biz Hub)— The export value of Vietnamese fine arts and handicrafts is expected to outstrip US$2.5 billion this year, according to the General Statistics Office (GSO). In the first six months, shipments of arts and handicrafts jumped 18.3 per cent against the same period last year, slightly higher than the country's average export growth rate of 16.1 per cent. Notably, revenue from suitcases, wallets, hats and umbrellas totalled $925 million, up 23.6 per cent year-on-year; pottery reached $218 million, up 6.6 per cent; and bamboo products hit $110 million, up 5.3 per cent. As of the end of June, the arts and handicrafts sector had become one of the country's 11 biggest export earners.—VNS … [Read more...]
H1 cashew exports increase in volume and value
Vinacas forecasts that demand for cashew in the world market will increase from now to the end of the year, given that many festivities take place during this period.—File Photo by Xuan Huong HCM CITY (Biz Hub)— Viet Nam hopes to ship 95,000 tonnes of cashew in the second half of the year, bringing the year's total to 210,000 tonnes, an increase of five per cent over last year, according to the Viet Nam Cashew Association (Vinacas). Speaking at a conference held in HCM City last Saturday to review the industry's first-half performance, Dang Hoang Giang, Vinacas general secretary, said some 115,000 tonnes of cashew worth US$716 million was exported in the first half of the year. This was a year-on-year increase of 30.3 per cent in volume and 18.8 per cent in value, he said. However, the average export price for the period was $6,185 per tonne, down 9.46 per cent against the same period last year, he said. The US remained the biggest importer of Vietnamese cashew, followed … [Read more...]
Firms issue shares under face value
A worker at Duc Giang Chemicals Co operates machinery on a phosphate production line. Issuing shares below face value is not prohibited by law, but the practice is difficult for small firms to compete against. — VNA/VNS Photo Hoang Hung HA NOI — If a small company wishes to raise more capital, it can issue additional shares below a face value of VND10,000 (US$0.47). However, this may not be feasible for these Vietnamese companies, according to Nguyen Thi Phuong Chi, FPT Securities Co's deputy head of corporate finance consulting division. Speaking to the newspaper Dau tu chung khoan (Securities Investment), Chi said while issuing shares under their face value was not prohibited by law, it was difficult for enterprises to do. Chi warned that companies planning to issue shares under their face value would need shareholder approval for the move, and getting this approval was difficult. "In addition, a company's share prices will decline due to stock dilution," said Chi. The … [Read more...]
VN highly values assistance from UNICEF, Ireland
HA NOI — National Assembly Vice Chairwoman Nguyen Thi Kim Ngan yesterday held separate talks with UNICEF Chief Representative in Viet Nam Lotta Sylwander and Irish Minister for Children and Youth Affairs Frances Fitzgerald. During her meeting with Sylwander, Ngan said Viet Nam appreciated UNICEF's help in fostering social and cultural development in the country and thanked the organisation for its co-operation in implementing policies on the care of Vietnamese children. The legislator expressed her wish that UNICEF would assist Viet Nam in building laws for the protection and implementation of child rights. While receiving the Irish minister, Ngan stressed that the protection, care and education of children and the protection of their rights in particular remained one of the major priorities of Viet Nam's human development strategy. Regarding bilateral ties, Ngan said she was pleased with recent important developments in the two countries' relationship, especially in development … [Read more...]
Retail value climbs by 24.2% in 2011
HA NOI — The value of retail sales and services enjoyed a year-on-year increase of 24.2 per cent to VND2,004 trillion (US$95.5 billion) in 2011, announced the General Statistics Office (GSO). However, if price increases were included in the figure, the growth was only 4.7 per cent compared with 2010, representing the lowest growth rate in the past four years, the office said. In recent years, the total retail sales value surged by 6 per cent in 2007 and 2008, 11 per cent in 2009 and 14 per cent in 2010. GSO economic experts said the low retail sales growth last year was due to the high consumer price index (CPI) of 18.58 per cent which forced the retail value of goods and services up by 24.2 per cent in terms of the actual amount paid but not in terms of volume and value. Vu Manh Ha, a GSO expert on retail goods and service said a few groups of goods and services accounted for a large percentage of the total retail sales value and were priced higher than they were the previous … [Read more...]
Bitcoin tops £5,000 in value
The price of Bitcoin has surpassed £5,000 per coin - a new record. While it is a historic moment of sorts, Bitcoin is usually compared to the dollar. The virtual currency peaked at $6,649.33 (£5,015) at about 16:34 GMT on Wednesday, according to Bloomberg. The total value of Bitcoin in circulation is currently $110bn (£83bn) and the cryptocurrency has risen more than seven-fold against the dollar over the past year. The reason for the latest jump in value was in part driven by an announcement by US-based derivatives marketplace operator CME Group about a plan to launch a Bitcoin futures product before the end of the year. Bitcoin was launched in January 2009. Its value was lower than $100 in June 2013, and below $1,000 as recently as January. But in August, the virtual currency soared to $3,451 after a spin-off - Bitcoin Cash - failed to prove as disruptive as had been feared. And in September, Bitcoin crossed the $5,000 threshold for the first time. "It's been a … [Read more...]
Tra export value rises, firms cautious
The export of tra (catfish) is still facing difficulties although exports for January-September hit 1.3 billion USD, up 5.8 percent over the same period last year, said the Vietnam Association of Seafood Exporters and Producers (VASEP). Tra fish processing chain at the Hung Ca Co Ltd’s factory in Dong Thap Province.However, values declined in two important markets, the US and Europe. Specifically, exports to the US reached 258.3 million USD, making up more than 19.8 percent of total exports and down 9.9 percent year-on-year.In the European market, in August and September, exports fell by 8.4 percent and 23.7 percent respectively over the same period in 2016. By the end of September 2017, European exports accounted for only 11.8 percent of total exports.Vice Chairman of the Vietnam Pangasius Association Vo Hung Dung said in the meantime, the export value to the Chinese market was growing. A VASEP report showed that the total value of catfish exports to China and Hong … [Read more...]