Business

President Obama and congressional leaders announced agreement on an emergency deal to avert the nation's financial default.

The Joint Venture Vietsopetro has invested hundreds of millions of USD in modern drilling rigs, hoping to pump 6.3 million tonnes of oil in 2011.

Republican congressional leaders and President Barack Obama made a last-minute stab at compromise to avoid a government default.

Vietnam’s southern hub generated over US$15 billion in exports during the first seven months of this year, a surge of 21.7% against the same period last year.

The construction of 12 hydropower dams along Mekong River’s lower mainstream is expected to cause Vietnam an annual loss of up to USD1 billion.

The price of gold in Vietnam jumped to an all-time high of VND40.15 million a tael (1.2 ounces) on July 30 as global price surged.

Hundred of Japanese businesses seeking investment opportunities in Vietnam gathered at a seminar in Bien Hoa City on July 29.

Vietnamese commercial banks have announced huge profits in the first six months of the year despite a 20% credit growth cap.

US lawmakers set the stage for a frantic beat-the-clock effort to avert a catastrophic debt default.

Vietnam looks set to spend a hefty USD42.5 billion over the next 10 years developing tourism infrastructure and products to prop up the industry.

British pay-TV giant BSkyB said that James Murdoch will remain chairman despite the phone-hacking row at main shareholder News Corp.

Vietnamese travellers once selected China as their favourite destination, but now they tend to go to Thailand, Singapore, Japan or South Korea.

Vietnam saw modest economic growth in the second quarter of 2011 due to tight monetary policies, an ADB report said.

Republican lawmakers Thursday challenged Democratic foes to vote for their debt plan or risk a calamitous US default.

Vietnam State budget revenue rose by 21% year on year to over VND51.5 trillion (roughly $2.53 billion) in July, reported the Ministry of Finance.

Vietnamese exports to the Japanese market have surged as Japanese demands have increase after the earthquake and tsunami disaster.

Surging inflation, Japan's weak conomic recovery and debt woes in the U.S. and Europe threaten East Asia's economic outlook, the ADB said.

Low-income households are the first to feel the effects of price hikes, but the middle-class now have to tighten their belts too.

With domestic tours costing more than foreign trips and while being not appealing enough, many people opt for destinations like Thailand and Singapore.