Supervisors counting cash receipts daily

The Hanoi housewife of four years knows however they will not be as fresh as earlier in the day. "Since the prices of everything have gone up, I have to change my shopping habits and doing so helps me able to buy produce at lower prices," the 28-year-old says. She and her husband, Tinh, had their first son more than a year ago before having a pair of twins. Tinh is the sole breadwinner and he had to stay at home for three months when Covid-19 broke out last year. "We even had to sell our gold wedding rings to stay afloat," she says. After Covid subsided he reopened his store distributing beverages, but barely makes a profit since gasoline prices have been soaring since April. Besides, many of his customers have greatly reduced their purchases. Some grocery stores only order a few five-liter bottles of water, but he still must travel dozens of kilometers by truck to deliver them. "If you do not keep prices low, customers will leave," he explained once to his wife when she … [Read more...] about Vietnamese turn frugal as prices soar

And it is not just breakfast. The 40-year-old Hanoian has specific menus for every meal of the day, typically containing a vegetable soup and two dishes. Eggs, tofu, peanuts, dried fish, and meat are part of them, but Tien insists that a meal for his family of four must not cost more than VND50,000 (US$2.15). The food is so monotonous that their youngest son, who is in third grade, frequently complains, "The meal at school is better than at home." Tien’s standard response is that he had to eat rice with corn and potatoes when he was a teenager, and so his children should be grateful for having "an affluent life." The family members cannot buy more than two new clothes in a year. When Minh asked to buy a new dress to wear on a company trip, he complained for a week because "there are four dresses hanging in the closet." Neither of their families faces any financial hardship and they themselves earn around VND40 million a month, which is much higher than the VND7.2-million … [Read more...] about When people go to extreme lengths to save money

SBV’s headquarters in Ha Noi. In the trading session on June 21, the SBV sold VND200 billion of seven-day bills at an interest rate of 0.3 per cent per year. — Photo SBV The State Bank of Viet Nam (SBV) has used the bill issue channel again to net withdraw money out of the banking system for the first time since June 2020. Previously, the SBV ceased the bill issue to keep the banking system’s liquidity surplus so as to actively help interest rates stay at very low levels to support the economy amid the COVID-19 pandemic. Accordingly, in the trading session on June 21, the SBV sold VND200 billion of seven-day bills at an interest rate of 0.3 per cent per year, equivalent to a net withdrawal of VND200 billion out of the market. According to Tran Ngoc Bau, founder and CEO of data provider WiGroup, when the banking system has a surplus of money, interbank interest rates will drop sharply. If it falls to the floor rate set by the SBV, the SBV will issue bills to withdraw cash to … [Read more...] about Central bank resumes bill issue channel to net withdraw money

A medical employee prepares to administer a COVID-19 booster dose to workers in HCM City's Tân Thuận Export Processing Zone. — VNA/VNS Photo Thanh Vũ HÀ NỘI — Việt Nam on Wednesday announced 888 new COVID-19 infections. All the new cases were domestic, of which 747 were detected in the community. The capital Hà Nội continued to register the highest daily case count with 149 new transmissions. Other new infections were found in Hải Phòng (88), Đà Nẵng (61), Nghệ An (51), Bắc Ninh (50), Yên Bái (45), Phú Thọ (34), Quảng Ninh (28), Lào Cai (26), Vĩnh Phúc (25), HCM City (25), Quảng Bình (22), Sơn La (17), Bạc Liêu (16), Hà Giang (15), Thái Bình (15), Hà Nam (15), Thái Nguyên (15), Ninh Bình (14), Hà Tĩnh (14), Bắc Kạn (13), Hòa Bình (12), Hải Dương (11), Nam Định (11), Thanh Hóa (11), Tuyên Quang (11), Quảng Trị (10), Lâm Đồng (9), Đồng Tháp (9), Cao Bằng (8), Bến Tre (7), Thừa Thiên Huế (7), Bắc Giang (7), Điện Biên (6), Cà Mau (6), Hưng Yên (6), Bình Định (5), Lạng Sơn … [Read more...] about Việt Nam reports 888 new COVID-19 cases on Wednesday

The report reveals that venture capital going into Vietnamese startups reached a record high in 2021 amidst market uncertainties and upheaval caused by COVID-19. The total funding amount reached a new high of $1.4 billion, a 1.6x growth compared to the prior record of $874 million set in 2019. Accordingly, the total number of funds invested in Vietnamese startups climbed by 60 per cent, equally distributed among countries. Singapore was the most active investor in 2021, followed by Vietnam and the US. Japanese investors have also gradually resumed their activities in Vietnam after a two-year slowdown. Investor appetite has been accelerated by an increased interest in sectors that have benefited from the pandemic. Moreover, the ease of video conferencing has made travel restrictions no longer a barrier to the investment decision-making process. Riding the acceleration of digital adoption, Vietnam celebrated the emergence of two unicorns, MoMo and Sky Mavis, in 2021. Their … [Read more...] about Venture capital into local startups reached record high of $1.4 billion

In the morning trading session, blue-chip stocks rallied robustly, such as PNJ with 5.25 percent, GEX with 6.58 percent, VPB with 2.84 percent, MSN with 1.92 percent, VPB with 2.84 percent, VHM with 1.92 percent, and CTG with 2.22 percent. Besides, the group of securities stocks - known as the market's navigator - also rebounded significantly, with more than 30 stocks advancing. Of these, FTS and BSI hit the ceiling, and SSI, VND, VCI, and HCM surged by 3-5 percent. In the afternoon trading session, several other securities stocks, such as HCM, ORS, VND, VIX, OGC, and ORS, also increased to the daily limit. The rising momentum of this stock group quickly spread to the whole market. The cash flow also quickly entered the market, causing many steel stocks to make a breakthrough. Specifically, HSG hit the ceiling, and HPG and NKG also rose to near the ceiling when closing the trading session. In this trading session, banking stocks also rose positively by 1.5-4 percent, such as STB, … [Read more...] about VN-Index surpasses 1,200 points as blue-chips recover