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Daegu becomes the fifth Korean bank licensed to operate in Vietnam

South Korea-based Daegu Bank has received a certificate from the State Bank of Vietnam to open a branch in Ho Chi Minh City.

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Diphtheria is spreading quickly in Vietnam's main coffee region, tally hits 63

Four provinces in Central Highland, the major coffee-producing region in Vietnam, has recorded 63 diphtheria cases as of Monday, 10 patients more than a day earlier, Ministry of Health said.

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Vietnam’s largest refinery seeks tax exemptions after $101mln loss on pandemic

Binh Son Refining and Petrochemical JSC, operator of Dung Quat Oil Refinery is seeking government’s approval for tax exemptions after a VND2.35 trillion ($101 million) loss in first quarter.

News

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Virus-free UK pilot, symbol of Vietnam's pandemic success, to return home

Vietnam’s most seriously ill COVID-19 patient, a British pilot who at one point seemed close to death, left hospital on Saturday on his way home after a dramatic recovery that attracted attention.

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Nearly 31mln workers in Vietnam hit by pandemic, unemployment rate could rise

At least 30.8 million Vietnamese workers aged over 15 in Vietnam had their jobs removed, reduced or salary cut during the first half of this year on COVID-19, General Statistics Office said.

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Vietnam considers to develop nuclear power after 2035

Industry officials proposed a new electricity generation plan that allows the development of nuclear power after 2035, VnExpress cited information from Wednesday conference held by Ministry of Industry and Trade.

Economy

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Vietnam’s outlook is one of the brightest in Asia

A rebounding economy and a new trade deal are reasons why the outlook for Vietnam is positive despite the coronavirus pandemic, said UBS Research.

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Vietnam’s Jan.-June credit growth slows to 3.26% on pandemic

Vietnam’s banking sector recorded 3.26 percent credit growth in the first six months of 2020 thanks to recovery in May, State Bank of Vietnam Governor Le Minh Hung told Thursday cabinet meeting.

Companies

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Mobile World secures its leading position in Top 50 again

Mobile World Group has secured its leading position in the Top 50 Best Performing Companies in Vietnam for the fourth consecutive year.

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Vinhomes to build $10bln property complex near natural wonder Ha Long Bay

Vinhomes, a real estate arm of Vietnam’s largest private conglomerate Vingroup is seeking shareholders’ approval to develop a VND232,369-billion urban area in Northern Quang Ninh province’s Ha Long city.

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Thailand’s BG Container Glass plans $32mln to buy Vietnam solar farms

BG Container Glass, the largest glass container packaging manufacturer by capacity in Thailand, is negotiating to buy solar farms worth over 1 billion baht ($32 million) in Vietnam.

Market

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SJC gold price climbs to new peak of VND50.35 million per tael

The domestic SJC gold price surpassed the VND50 million ($2,156) per tael mark for the first time on July 7, reaching its highest level since August 2011 in the process.

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Viet Capital Bank gets approval to list 317.1mln shares on UpCOM

Ban Viet Commercial Joint Stock Bank, known as Viet Capital Bank got approval from Hanoi Stock Exchange to list 317.1 million shares on the Unlisted Public Company Market (UpCOM), exchange filings say.

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Sabeco leads rally on Friday trade after Gov’t announces to sell entire stake

The increase of Sabeco and other major stocks led the benchmark VN-Index on the Ho Chi Minh Stock Exchange to 847.61 points, up 0.62 percent in Friday trade.

Real Estate

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Ho Chi Minh City to develop hi-rise building along metro line

Ho Chi Minh City plans to stop construction of high-rise apartments in downtown and focus instead on building such residential complexes along the first metro route in the city.

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IFC invests in $75mln bonds of Vietnam-based property developer Phu My Hung

International Finance Corporation is subscribing to a $75-million bond issuance by Phu My Hung Development Corporation to help the company sustain its property development operations amid pandemic, the credit institution said.

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Ho Chi Minh City townhouse prices surge 36 percent

Ho Chi Minh City townhouses are going for a highest ever average price of $5,277 per square meter in Q2, up 36 percent year-on-year.

Life & Art

World

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Uber agrees to acquire Postmates in a $2.65 billion deal

Uber has agreed to acquire Postmates in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in the U.S., according to people familiar with the matter.

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Tencent buys Southeast Asian streaming platform Iflix

Chinese entertainment titan Tencent said it has purchased Southeast Asian streaming service Iflix to extend the reach of its own streaming platform WeTV into the region.

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SoftBank CEO Masayoshi Son Quits Alibaba Board

Softbank announced in May that Alibaba’s Jack Ma would step down from its board