According to the airport, 91,000 of the passengers flew into Ho Chi Minh City. Of those inbound, 71,000 were on domestic flights. Among around 58,000 flyers leaving HCMC, 39,000 traveled domestically, and the rest flew internationally. Pre Covid-19, the airport’s peak Tet day and all-time record had been only 128,000 travelers. Friday’s record broke the record made the previous day, which was 145,000. It is estimated that more than 3.8 million passengers will have passed through Tan Son Nhat on 27,000 flights by the end of this year’s Tet holiday, up 10% in compared to the pre-pandemic year of 2019. … [Read more...] about Tan Son Nhat airport sets new single-day passenger traffic record
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Positive prospects for Vietnam’s stock market this year
The VN-Index, which tracks the performance of the Ho Chi Minh Stock Exchange (HoSE), closed above the resistance area of 1,100 points, equivalent to 1,120 points of the VN30-Index, in the last trading week. Although cash flow has not improved much, supply pressure has not put great pressure on the market. The market is expected to continue to be supported and gain points in the next trading sessions. Therefore, investors can still expect the market to expand the uptrend and exploit some short-term opportunities in stocks with positive accumulation background, said Viet Dragon Securities Co. 2022 was an eventful year for the Vietnamese stock market with many records set. After a prosperous 2021, the VN-Index continued to stay at its historic peak for the first three months of 2022. However, the market then declined, putting itself on the list of the worst performers in the world. As of December 27, the benchmark had dropped 34.2% to 1,004.57 points, from the 1,520-point peak … [Read more...] about Positive prospects for Vietnam’s stock market this year
Neu pole wards off evil spirits, welcomes blessings
Vietnamese people erect a Neu tree in front of their house to show off their land holdings and mark the border of their house. The bamboo pole was stripped of its leaves, except for a tuft at the top. The decoration on the Neu trees varies between regions and periods. On the top of the bamboo tree, they often hang a snatch of pineapple leaves, chicken feathers and a circle of New Year cards made of bamboo and do (poonah) paper. According to cultural researchers, the circle of bamboo cards symbolizes happiness and chicken feathers represent holy birds with powers that can help the family. The pole is also believed to ward off ghosts and demons from entering the community during Tet. It also seeks to show the way to ancestors who want to return home for the lunar New Year holiday. As legend goes, the Tet pole erecting tradition is originated from the Buddhism. Legend has it that long time ago, devils occupied the land of humans. Seeing humans’ suffering, the Buddha helped them … [Read more...] about Neu pole wards off evil spirits, welcomes blessings
Vietnam government should intervene in bond market: ADB economist
Between VND150-200 trillion ($6.4-8.5 billion) in bonds are set to mature this year, and if the bond market is left to self-regulate, systemic risks could spread to the banking sector and the entire financial market, Cuong told VnExpress in an interview. Although Vietnam concluded 2022 with a strong post-pandemic recovery, several financial problems plagued the economy last year, among them bond market issues . As there were many high-profile arrests due to alleged misconduct in bond issuance, companies prematurely redeemed VND210.57 trillion worth of their own bonds last year, up 46% from 2021. Although the market could be left to fix its own problems, Cuong said that it is recommended that the government intervenes with policies to ensure post-pandemic recovery, as one problem in the market could shake the market in a major way this year. He added that in the 2008 financial crisis, the U.S. government initially let the market corrects itself, but after Lehman Brothers … [Read more...] about Vietnam government should intervene in bond market: ADB economist