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National carrier Vietnam Airlines remained in the red in the first quarter of this year, with losses of nearly US$113 million, despite its revenue rising to a two-year high. The airline posted a loss of VND2.621 trillion ($112.9 million) over the first three months of 2022, according to its Q1 consolidated financial statements issued on Friday. The loss was recorded even though the flag carrier logged revenue of more than VND11.6 trillion ($500 million) in the period, up 55 percent year on year, the highest performance since the second quarter of 2020, when COVID-19 began to severely affect Vietnam’s aviation industry. The impressive revenue failed to cover the total cost that was higher than expected, leading to the firm’s ninth consecutive quarterly loss, the carrier said. Vietnam Airlines’ fuel expense in the quarter was VND465 billion ($20 million) more than projected given rising world oil prices, VnExpress cited the company as saying. The Q1 result has brought the … [Read more...] about Vietnam Airlines suffers $113mn Q1 loss despite revenue surge

Vietnamese players celebrate their victory. VNA/VNS Photo Bảo Ngọc HÀ NỘI — State leaders have congratulated the Vietnamese women's football team on winning the gold medal on May 21. President Nguyễn Xuân Phúc praised Huỳnh Như and her teammates for their successful competition, which brought endless joy to fans throughout the country. President Phúc also praised coach Mai Đức Chung, the coaching staff, and the players for their accomplishments. He thanked the sports fans for bringing the love of sport and national pride together at Cẩm Phả Stadium and across the nation, creating spiritual strength for the "female warriors" to go through each match, especially the final, to bring glory to the country, and pride for Vietnamese women's football. Shortly after the final match, Prime Minister Phạm Minh Chính sent a letter of congratulations to the Vietnamese women's soccer team. PM Chính expressed his delight that the players successfully … [Read more...] about PM congratulates Vietnamese women’s football team

An employee passes electronic boards showing share prices inside Hồ Chí Minh Stock Exchange in HCM City. — VNA/VNS Photo Hữu Khoa HÀ NỘI — An upgrade to emerging status will not only help the stock market develop quickly, transparently and sustainably, but also attract huge foreign capital inflows, said experts. Recently, the Government has directed to purge the market and improve the trading system’s capacity, showing its determination to enhance the quality of the stock market. The refinement is to protect investors and open a door for the Vietnamese stock market to be upgraded from a frontier to an emerging market. Prime Minister Phạm Minh Chính has taken an interest in the development of the capital market and the stock market, including the matter of upgrading the market. During a trip to attend the ASEAN-US Special Summit, on May 16, the PM visited the New York Stock Exchange (NYSE) – the largest stock exchange in the world – hoping it supports and shares experience to … [Read more...] about Upgrading the market for the sake of all participants