Business

The increased cost-of-living crisis sparked by surging inflation last year is continuing to push people in Asia and the Pacific into extreme poverty, according to a new report by the Asian Development Bank.

Many experts on the property market proposed cutting interest rates of loans for investing or buying social housing products to 4.5-6% per year from 8.2-8.7% at present.

Commercial banks have persistently reduced deposit interest rates, resulting in rates for many terms now standing at just above 6% per annum.

The ministries of Industry and Trade, and Finance have sharply raised retail petrol prices again in their latest adjustment on Monday afternoon.

Vietravel Airlines has operated its first direct flight from Hanoi to China following the launch of the Nha Trang-Macau (China) route in May.

Most Asian markets fell Monday as China's decision to cut interest rates again failed to reassure investors, who are growing increasingly worried about the outlook for the world's number two economy.

There is ample room for Vietnam's power industry to develop in the future as the demand for electricity grows, a trend that is forecast to continue for the next decade, according to industry insiders.

In its recent report, the World Gold Council said demand for gold in Vietnam shrank 9% in the second quarter year on year due to the economic difficulties.

Continuous interest rate cuts and support policies are gradually proving effective, helping ease difficulties facing the real estate market, experts have said.

Asian markets mostly fell Friday on growing worries of another Federal Reserve interest rate hike and deepening concerns about China's economy, with the country's property crisis once again adding an extra layer of jeopardy.

As a major coffee exporter to the EU, Vietnam should get prepared for the deforestation law to maintain and expand coffee export to the block, raising the pressing need for digitalization of the value chain.

International experts shared experience in public debt management and gave recommendations to Vietnam at a consultation workshop in Hanoi on August 17.

Singapore authorities have seized assets worth nearly US$750 million in sweeping raids against a suspected international money laundering ring, police said Wednesday.

There are still issues to be resolved with the recently approved National Power Development Plan 8, namely how to attract and encourage private investors, according to the Ministry of Planning and Investment.

Both Vietnam and Israel have ample room to raise their annual two-way trade turnover to US$3-4 billion in the coming time from last year’s US$2.2 billion following the impending enforcement of the recently signed free trade agreement (VIFTA) between

Vietnamese auto maker VinFast Auto Ltd. (VinFast) rang the bell to officially commence trading of its shares on the Nasdaq Global Select Market, the US, under the ticker symbol “VFS”.

The Ministry of Industry and Trade has issued a directive on developing rice export markets and stabilising the domestic market amidst unpredictable changes in the global rice market.

Foreign direct investment attraction, consumption, and tourism are considered silver linings in Vietnam’s economic growth in the coming months of this year, insiders said.

Vietnam’s first taxi service using electric motorbikes began services on August 14.