Business

Both Uber and Grab Taxi have reported losses, with Grab Taxi incurring VND938bn (USD41.3m) in losses due to too much promotion, discount programmes and subsidies to drivers.

The Ministry of Industry and Commerce of Sri Lanka has launched an international tender to purchase 200,000 tonnes of rice, providing an excellent opportunity for Vietnamese rice exporters.

Vietnam needs a gradual sustainable increase in forex reserves, rather than a shocking increase as seen in the last two years, according to analysts.

Total FDI attraction including newly-registered, additional capital and share purchase capital valued US$ 28.2 billion in the first ten months, reported the Foreign Investment Agency (FIA).

Over 11,000 new businesses have been established across the country so far this month, with a registered capital of approximately VND119.24 trillion, up 29.6% in the number of enterprises and 48% in terms of the registered value in comparison

HCM City has advanced an additional VND1.2 trillion (USD54.5 million) to pay contractors for the Ben Thanh-Suoi Tien metro project which is facing capital delays.

Despite high demand for housing, many people have refused to move into resettlement buildings in Hanoi and left thousands of apartments lying empty due to low quality.

Export turnover of agro-forestry-aquatic products is expected to reach 2.74 billion USD in October, bringing the ten-month figure to nearly 29.76 billion USD, up 12.7 percent year-on-year.

The authorities in HCM City have asked Grab and Uber to stop recruiting new cars while waiting for the Ministry of Transport review of the two-year implementation of science and technology in passenger transportation.

Khaisilk, a premier Vietnamese silk brand which is facing a fake product scandal, has just closed its shop in Hanoi’s Old Quarter shopping area following a check by local authorities on Thursday.

The Vietnam Report Joint Stock Co. has announced the ranking of top 500 companies with the highest profit (Profit500) in 2017.

Local authorities of the mountainous northern province of Dien Bien on October 24 announced their upgrade plan for Dien Bien Airport.

More than two millions litres of adulterated petrol have been found at a number of petrol stations in the central province of Nghe An.

Three resettlement blocks in Hanoi that have been left abandoned for 10 years are now facing demolition, with original investor wanting to construct new buildings.

Vietnam’s largest listed company Vinamilk has finalised procedures to sell 3.3 per cent of the residual stake on November 10, whilst the two brewery giants Sabeco and Habeco have yet to submit their divestment plans.

The world will be in deep trouble if it fails to tackle climate change and inequality, IMF managing director Christine Lagarde warned on Tuesday.

Foreign ownership in the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is officially at zero per cent, the bank announced late last week.

Vinasun, one of Vietnam’s biggest taxi firms, saw nearly 2,000 staff leave in the third quarter of this year due to fierce competition with app-based taxi services.

Nguyen Hong Truong, deputy head of IDG Ventures Vietnam and one of the founders of Vietnam's start-up community, died on October 22 from a stroke.