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Vietnam sees 5.8% GDP growth in the first six months of 2021

Vietnam's GDP is expected to rise by 5.8% in the first six months of 2021 despite the negative impacts from pandemic, according to figures released by the Ministry of Planning and Investment.

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Raw material imports increasingly expensive, stoke inflation fears

The rising costs of imported raw materials are pushing up prices and threatening to cause inflation amid the ongoing economic recovery.

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SeABank to raise foreign ownership limit, having foreign strategic partner

Southeast Asia Commercial Joint Stock Bank is seeking shareholders' approval to raise foreign ownership limit from current zero percent ratio, bank said in a statement posted on its website.

News

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Vietnam’s exports to EU surge amidst COVID-19

Trade in goods between Vietnam and the European Union (EU) has seen positive growth since the beginning of 2021, despite the impact of the COVID-19 pandemic.

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Vietnam levies anti-dumping and anti-subsidy duties on Thai sugar

The Ministry of Industry and Trade has decided to levy anti-dumping and anti-subsidy duties on a variety of cane sugar goods imported from Thailand.

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Malaysian oil company to enter Vietnam market

Malaysia’s Hibiscus Petroleum Berhad has acquired the assets of Spanish oil exploration and drilling firm Repsol Exploración, S.A. in Vietnam.

Economy

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Vietnam's credit growth up 5.1 pct as of June 15 from end-2020

Total loans of Vietnam's banking system as of June 15 from end-2020 expanded 5.1 percent, State Bank of Vietnam’s Deputy Governor told local media on Monday morning.

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Vietnam sees 5.8% GDP growth in the first six months of 2021

Vietnam's GDP is expected to rise by 5.8% in the first six months of 2021 despite the negative impacts from pandemic, according to figures released by the Ministry of Planning and Investment.

Companies

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Three banks pledge loans to help Vietnam Airlines avoid bankcruptcy

Vietnam Airlines, which is on the edge of bankruptcy, will get VND4 trillion ($173.7 million) in loans from three banks, according to a State Bank of Vietnam official on Monday.

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Vietnam’s leading jewelry firm’s five-month after-tax profit jumps nearly 91%

Despite COVID-19 pandemic hit the economy, Phu Nhuan Jewelry (HoSE: PNJ) has reported Jan-May post-tax profit at VND685 billion ($29.8 million), up 90.6% from a year ago, according to company statement.

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TPBank to issue 100 mln shares through private placement

The State Bank of Vietnam has green-lighted lender TPBank’s proposal to issue 100 million shares to hike its charter capital by VND1 trillion ($43.4 million).

Market

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Masan gets approval to remove foreign ownership limit

Vietnam’s private conglomerate Masan Group has got approval from the State Securities Commission to raise foreign ownership limit to 100%, according to a statement posted on its website.

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Casino operator stock skyrockets despite sustained losses

Ticker RIC of the Royal International Corporation has surged 755 percent since January despite the company reporting losses for years.

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Japan’s ENEOS Corp. to raise stake in Petrolimex to 11 percent

Japanese energy firm ENEOS Corporation has registered to buy 25 million treasury shares of the Vietnam National Petroleum Group (Petrolimex), according to exchange filing.

Real Estate

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SJM Holdings rejects rumor of planning $6 billion casino in Vietnam province

Macau-headquartered casino giant SJM Holdings has rejected rumor saying it is seeking approval to develop a $6 billion resort and casino complex in Quy Nhon city, Binh Dinh province.

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Proptech set for strong growth in Vietnam

As technology develops and demand keeps increasing in the property sector, proptech will develop in a similar way to fintech, experts have said.

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Shophouse Metro Start is on right track to finish with Metro Line 1

A shophouse linking near Metro Station 10 of HCMC’s first metro line is on right track to finish. The shophouse accommodates all shopping and entertainment activities of residents and metro commuters.

Life & Art

World

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Jeff Bezos to Step Down as Amazon CEO; Andy Jassy to Take Over

The company announced changing roles as it reported that revenue in the fourth quarter soared 44% to $125.56 billion

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China failed to buy agreed amounts of U.S. goods under ‘phase one’ trade deal

China has so far failed to meet its committed purchases of U.S. goods under the “phase one” trade deal that it struck with the Trump administration.

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Signal and Telegram downloads surge after WhatsApp says it will share data with Facebook

Downloads of privacy-focused messaging apps Signal and Telegram got a boost as users looked for alternatives to Facebook-owned WhatsApp over concerns about changes to the service’s privacy policy.