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Trading firm chairman earned $6.4 mln from stock market manipulation: investigators

Do Thanh Nhan, former chairman of Louis Holdings, reaped illicit gains of more than VND153 billion ($6.46 million) from stock market manipulation, investigators allege.

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LEGO leader shares reasons for choosing Vietnam to build $1bn factory

Cheap labor cost was not the reason why LEGO chose Vietnam. Growth opportunity and the possibility to expand global supply chains were among the main reasons.

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Vietnam in global semiconductor spotlight as big-name investors show interest

Global semiconductor makers are betting on Vietnam as their next production destination with the country being considered ready for a move up in the value chain.

News

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Vietnam among the top options for global investors: Cushman & Wakefield

In terms of first- and second-place favored developing markets, Vietnam received over 80% of the votes, beating out India's 75%, according to Cushman & Wakefield

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Vietnam's central bank increases deposit interest rate ceiling

For the first time in two years, Vietnam's central has increased a series of regulatory interest rates, including deposit, rediscount and refunding rates.

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Samsung Vietnam earns a revenue of almost $38 billion in H1

Four Samsung plants in Vietnam reported combined revenue of $17.9 billion in the second quarter, a decrease of more than 10% from the first quarter but an increase of 30% YoY.

Economy

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Apple to move 25% iPhone production to India by 2025, 20% iPad and Apple Watch to Vietnam, analysts say

Apple began assembling some of its devices in India and Vietnam a few years ago, slowly cutting its reliance on China.

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Local currency bond market nears US$100 billion

Viet Nam’s currency bond market is forecast to reach US$100 billion, expanding 31.6 percent against the previous year, according to the Asian Development Bank’s (ADB) Asian Bond Monitor report

Companies

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Trading firm chairman earned $6.4 mln from stock market manipulation: investigators

Do Thanh Nhan, former chairman of Louis Holdings, reaped illicit gains of more than VND153 billion ($6.46 million) from stock market manipulation, investigators allege.

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Phu Nhuan Jewelry's eight-month revenue reported at almost $1 billion

Vietnam's leading jewelry maker has completed over 94% of the year's plan in the first eight months, earning an after-tax profit that was double from a year ago.

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Vietnam’s Trungnam Weighs $500 Million Bond Sale to Fund Renewable Plans

Conglomerate Trung Nam Construction Investment JSC plans to sell about $500 million in bonds in the next three years.

Market

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Masan's subsidiary to pay cash dividend at the rate of 50%

NET Detergent JSC, a subsidiary of Masan Group plans to pay the 2021 dividend in cash at the ratio of 50%.

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Odd lot trading to resume on HCM City stock exchange

The Ho Chi Minh Stock Exchange (HoSE) will allow trading of odd lots (one to 99 shares) starting next Monday after a 21-month suspension.

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Coffee Drinkers Set for Price Pain as Vietnamese Reserves Shrink: Bloomberg

Vietnam’s vast hoard of coffee beans is shrinking, a phenomenon that’s set to push rising global prices even higher.

Real Estate

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Hanoi to start Ring Road No. 4 project in June, 2023

Hanoi will start Ring Road No. 4 project in June, 2023 under a plan approved recently by Chairman of the Hanoi People’s Committee Tran Sy Thanh.

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Low returns make developers wary of social housing

Despite various tax and loan benefits, developers say returns from building social housing are too low while procedures are tortuous.

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Ho Chi Minh City to build two int’l cruise ports

The Ho Chi Minh City Department of Transport has made a report about the plan to establish two passenger ports along local waterways in a bid to develop the city’s tourism.

World

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Facebook parent Meta partners with AMD for mobile infrastructure program

Meta is trying to cover the uncovered regions and the underdeveloped countries

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Morgan Stanley agrees $13 billion deal to buy online trading platform ETrade

Morgan Stanley has become the latest elite Wall Street bank to turn to Main Street for its future growth, adding stock trading millennials to its customer with the $13bn acquisition of ETrade.

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Facebook-owner Meta gives preview of its first store, enterprise tools

Facebook owner Meta Platforms Inc gave an early glimpse of its first physical store which shows off games on its virtual reality headsets and rooms for testing video calling devices.