Business

Ho Chi Minh City sees 21.7% rise in exports

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.

Mekong hydropower dams mean $1B in losses for Vietnam

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.

Gold soars to above VND40.1 million

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.

Japan promotes investment in Dong Nai province

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

Banks cash in big profits despite tightened monetary policy

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

US 'almost out of time' for debt deal: Obama

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

Vietnam plans USD42.5 billion for tourism products development

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.

Murdoch remains BSkyB boss as profit jumps

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

China no longer the choice of Vietnamese travellers

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

ADB: Vietnam’s economy slows down amid inflation

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

US braces for debt deal vote amid default jitters

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

July budget revenue up 21 percent

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.

Japan buys more Vietnamese goods after disaster

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

ADB: Inflation threatens East Asian growth

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.

Inflation begins to squeeze middle-income earners

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

Vietnamese prefer foreign to local attractions

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

Vietnam welcomes 3.43m foreign visitors in Jan-July

Vietnam welcomed 3.43 million foreign visitors in the first seven months of this year, up 17.3 percent on-year, according to the General Statistics Office.