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The index closed 28.9 points lower after losing 11.4 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 55.43% to VND17.55 trillion ($739.82 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 27 tickers dropped. VRE of retail real estate arm Vincom Retail plunged 6.5% to the lowest in four weeks. CTG of state-owned lender VietinBank dipped 6% to the lowest since June 21. Other losers included SSI of leading brokerage SSI Securities Corporation, KDH of real estate firm Khang Dien House and POW of electricity producer Petrovietnam Power Corporation. Only two blue chips gained: VIB of Vietnam International Commercial Bank, up 1.1%, and GAS of state-owned Petrovietnam Gas, up 1%. Foreign investors were net sellers to the tune of VND558.43 billion. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 3.31% while the UPCoM-Index at the Unlisted Public Companies Market was down by 2.16%. … [Read more...] about VN-Index sinks to 11-week low

On September 17, more than 100 tonnes of fresh durians from five local producers were exported to China via the official channel, marking the debut of many more shipments to this billion-population market in the forthcoming time. After durians, passion fruits also have ample space for export to China as these two items were approved by China to enter the country by a protocol signed by the two countries in July. Over a hundred tonnes of Vietnamese durians for the first time entered the Chinese market Nguyen Vu Thang, COO at Van Xuan Phat Import Export Co., Ltd. – which exported three containers of durians to China, said that it took three years for the firm to prepare for the shipment, with preparations covering material growing areas and packaging standards following stringent requirements from the partner. After these first three containers, each month, Van Xuan Phat will export 1,000 tonnes of durians to China following contracts placed by the partner. … [Read more...] about Bright prospects for agri-seafood exports at year-end

Changes in the global geopolitical landscape coupled with economic inflation has made seafood trade increasingly challenging, including shrimp products, although experts believe that Vietnamese shrimp still has many opportunities ahead for growth amid this turbulent cycle. According to information released by the Vietnam Association of Seafood Exporters and Producers (VASEP), although economic inflation has caused consumers to tighten their spending and choose a food which is suitable for their affordability, Vietnamese shrimp remains the preferred item by consumers around the world. Mohandas Kizhakke, representative of Captain Fisher Foodstuff Company in Kuwait, said that shrimp imported from the nation usually sells very well. In Kuwait and the Gulf region as a whole, shrimp remains highly popular, with menus specifying where the shrimp actually comes from. Restaurants where Captain Fisher Foodstuff Company sources shrimp only wants to sell items from Vietnam. … [Read more...] about Ample room ahead to boost Vietnamese shrimp exports

The company launched the flagship iPhone 14 at an event earlier this month, where it focused on safety upgrades rather than flashy new technical specifications, with the exception of a new adventure-focused watch. "The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," Apple said in a statement. Analysts at J.P.Morgan expect Apple to move about 5% of iPhone 14 production from late 2022 to India, which is the world's second-biggest smartphone market after China. Apple could make one out of four iPhones in India by 2025, JPM analysts said in a note last week. … [Read more...] about Apple says it will manufacture iPhone 14 in India

A woman sells oranges on Hang Buom Street during the Lunar New Year season in 1955. The photo is one of more than 20 works exhibited at an exhibition – "Ganh hang rong (Street vendor shoulder pole) – organized by the French Institute in Vietnam and the Institute of the Far East (EFEO) from September 23 to November 5 at Institute of Cultural Exchange with France (Idecaf) in HCMC’s District 1. The exhibition displays photographs taken 1930-1950 by French photographers during their trips to Vietnam at that time. Since 2008, Hanoi authorities have banned the once ubiquitous vendors, who roamed the streets with two heavy baskets balanced by a bamboo pole on their shoulders, from major streets in the capital. A woman sells fish at a market in Hanoi in the 1950s. Olivier Tessier from the Institute of the Far East, who has studied Vietnamese culture for many years, said the street vendors in the past mainly came from … [Read more...] about Exhibition shows Hanoi street vendors from a bygone era

The reporting season for third-quarter banking results is around the corner, with profits and bad debt the top concerns after credit growth slowed in the past three months. Meanwhile, Circular No.14/2021/TT-NHNN on the continued extension of debt repayment and debt rescheduling for clients affected by the pandemic expired at the end of the second quarter. The State Bank of Vietnam's (SBV) circular on debt rescheduling points out that if the restructured debt is not paid on time, it will immediately become bad debt by the end of the grace period. Meanwhile, debts of individual borrowers at the same or different credit institutions will be classified into the lowest debt category. However, if the principal and arising interest for the restructured debt cannot be fully paid for three consecutive months, the debt will be classified as Debt Group 1 after the grace period ends. As a result, there are many concerns that bad debts will soar in late 2022, which would be detrimental for … [Read more...] about Banks moving to restructure bad debts