Business

Ethanol gasoline E5(A92-RON petrol containing 5 per cent ethanol) will be sold at all filling stations in HCM City beginning on December 31, according to the city's Department of Industry and Trade.

The prices of RON 92 petrol and E5 bio-fuel were reduced by VND391 per litre as of 3 pm on December 18, the 5th consecutive cut and the 22nd adjustment so far this year.

The State Bank’s December 17 decision to reduce interest rate for deposits in USD by individuals to zero percent is said to be a right move to curb dollarization and stabilize the foreign exchange rate.

Fake coffee, produced using sometimes harmful chemicals, is ironically being widely sold in the country’s coffee producing hub of Central Highlands province of Dak Lak and Ho Chi Minh City.

The maximum interest rate paid to individuals depositing USD in local banks will be zero percent per year from December 18, the central bank announced.

France's Casino Group announced plans to sell its Big C supermarket chain in Vietnam to cut its debts by more than USD2.2 billion next year.

The US Federal Reserve’s decision to raise interest rates by 0.25 percentage points on early December 17 has not prompted the State Bank of Vietnam to change its policy on stabilising foreign exchange rates, experts said.

The national flag carrier Vietnam Airlines conducted 365 flights between Vietnam and Indonesia in 2015, carrying more than 100,000 passengers and over 1,000 tonnes of cargos.

Auto Motors Vietnam – the importer of Renault cars in Vietnam, and Mai Linh Group agreed to launch the electric taxi service next year in Vietnam under a deal signed on December 16 to reduce gas emissions in major cities.

Deputy Prime Minister Vu Duc Dam encouraged the use of consumers paying for goods and services electronically as a substitute for using cash in a speech at an e-payment forum held in Hanoi.

The number of foreign visitors to Ho Chi Minh City this year is estimated at 4.7 million, fulfilling this year’s target and up 7 percent from 2014, according to the municipal People’s Committee.

The People's Committee of southern Kien Giang province has announced the Prime Minister's decision to establish the Phu Quoc Economic Zone management board.

About 6.8 million people in Vietnam are expected to benefit from improvements to dam safety for some 450 irrigation dams with support from a US$415 million credit from the International Development Association.

Local airlines have spent billions of VND on compensation for delayed or cancelled flights since the flight delay compensation regulations took effect five months ago.

US investments in Vietnam are expected to rapidly increase due to Vietnam's potential for consumption and new business opportunities, according to the Ministry of Planning and Investment's Foreign Investment Agency.

While falling oil prices have created mounting pressure on crude oil drilling and exporting companies in Vietnam, economic experts said the economy would actually benefit.

The State Bank of Vietnam (SBV) Operation Centre adjusted the reference exchange rate between the Vietnamese dong (VND) and the USD up by 90 VND on the morning of December 15.

While Vietnam is trying to attract foreign travellers after a long sharp fall in visitor numbers, more local people are rushing abroad to experience new countries.

Besides traditional co-operation areas, Vietnamese and Russian businesses should take initiative in widening their relations, vice chairman of the Vietnam Chamber of Commerce and Industry Hoang Quang Phong said.