Tag Archive for ‘Steel’

Vietnam businesses report huge profit for H1 2017

Businesses in the finance and banking sector continued to prosper in the first six months of the year. Listed companies have released their financial reports for the first half of the year. About 50 percent of businesses have reported growth in net profit, 40 percent have reported decreases in profit, and less than 10 percent […]

MoIT stake sale’s main lure: VEAM

The Ministry of Industry and Trade has announced plans to divest from six firms under its management from now until 2020, most notably, in this year’s sell-off of Vietnam Engine and Agricultural Machinery Corporation stock. Last week, a list of six firms slated for partial and complete divestment was released by the Ministry of Industry […]

Speculative stocks heat the Vietnamese market

Both local stock indices advanced yesterday, with investors pouring money into speculative stocks for short-term profits. The benchmark VN-Index on the HCM Stock Exchange rose 7.3 per cent to close at 777.26 points. The southern market index has gained 1.4 per cent in the last three sessions in the previous week. On the Hà Nội […]

Vietnam exports to UK see slight rise

Vietnam exports to the UK hit US$2.8 billion in the first seven months of this year, up 1.61% against the same period last year, according to the General Department of Vietnam Customs. Telephones and components were key products, accounting for 35.2% of the total export revenue, however, its growth in the period fell 7.09%. Garment […]

CSR is a way to give back

Eight Korean companies last week were presented with corporate social responsibility awards for significant contributions to Vietnamese society. The ceremony was held together with the “Hallyu Korean Wave Products Shows” in Hanoi in celebration of 20 years of diplomatic relations between Vietnam and Korea. The honoured firms are Posco Vietnam, VinaKorea, Shinhan Bank Vietnam, PTV, Asian Airlines, Hansoll Vietnam, Posco VNPC and Silkroad Hanoi. They were selected from 16 short-listed candidates by Korea’s Ministry of Knowledge Economy and Vietnam’s Ministry of Planning and Investment (MPI). According to vice MPI minister Dao Quang Thu, the award ceremony was a chance to praise…

Vietnam State Owned Economic Groups Repeatedly Beg For State’s Support

VietNamNet Bridge – State owned economic groups, considered the motive force of the national economy, have also complained about difficulties, while repeatedly begging for the preferences from the State. Conglomerates will live only with the State’s support In the latest document sent to the Ministry of Finance (MOF), the national oil and gas group PetroVietnam asked for the permission to exempt the personal income tax (PIT) for the group’s officers who go abroad on business. If MOF does not accept the proposal, PetroVietnam wishes to come forward to pay the tax for the officers. However, the expenses would be counted…

Vietnamese officials to be punished for embezzlement

SOC TRANG (VNS)– Two officials of Cu Lao Dung District’s An Thanh Dong Commune will be punished for misappropriating tens of millions of dong from national programmes, says the district people’s committee chairman Le Van Hieu. District investigators discovered the misdeeds of commune party cell secretary Vo Hoang Long and people’s committee chairman Nguyen Cong Trang after residents denounced them for embezzlement. According to people in An Thanh Dong Commune, the commune authorities extracted VND240 million ($11,000) from a national programme to help poor households buy sugarcane seedlings and breeding animals. Long and…

Iron-Ore Rebound Boosts STX With Record Chinese Imports: Freight

China, which imports more iron ore than the rest of the world combined, will buy a record amount this quarter, easing concern about the engine of global economic growth and extending a two-month rally in shipping rates. Capesizes, carrying more ore than any other vessel class, will earn $12,000 a day in the first quarter, says Arctic Securities ASA, a bank in Oslo whose recommendations on shipping stocks returned 17 percent in a year. Investors may profit from that because freight swaps for the period are trading at $8,500. Fourth-quarter shipments will rise 5.5 percent from a year earlier to…

Foreign companies enlarge, Vietnamese firms struggling to survive

Contrary to the bleak situation of domestic companies, many foreign direct investment (FDI) corporations have not only grown in term of invested capital but also overpower in some Vietnam’s key export sectors. While domestic companies are struggling for survival, foreign invested corporations are enlarging manufacturing, especially in Vietnam’s key export sectors. Textiles, leather, plastic, mechanical, etc., seem to be Vietnam’s strength for low cost labour, simple technology, but export increasing mostly comes from foreign invested companies. Only in term of capital, in October, there were 359 FDI projects registered to capital increasing with the amount of 3.8 billion US dollars, 12.3…

Vietnam Deputies Rise To Question Time

HA NOI (VNS)— With burning issues surrounding petrol problems, inventory clearances and the inundation of low-quality products in the domestic market, yesterday’s National Assembly question and answer session was a heated affair. Minister of Industry and Trade Vu Huy Hoang was the first member of the Government summoned to answer queries raised by NA deputies. Hoang admitted there are still shortcomings in market management, causing the deluge of low-quality and…