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The Ho Chi Minh City Stock Exchange (HoSE) on Thursday warned that Vietnam Airlines (HVN) could be delisted if an audit proves the company has logged an operating loss for three consecutive years. In its warning, the HoSE cited the firm’s consolidated financial statement for the last quarter of 2022 in which Vietnam Airlines posted an accumulated loss of nearly VND34.2 trillion (US$1.46 billion) in 2022. The carrier also reported that its equity was negative VND10.2 trillion ($435.4 million) last year. According to the Law on Securities, the stock of a public company must be delisted if it suffers annual operating losses for three consecutive years, if its accumulated losses exceed its charter capital, or if its equity is negative. As such, if Vietnam Airlines' audited consolidated financial statement for 2022 shows a loss, it will be the firm’s third consecutive year of operational losses and its ticker will be delisted, the HoSE warned. On June 1, 2022, the HoSE issued a … [Read more...] about Vietnam Airlines risks stock delisting

Authorities in Hoi An City, central Vietnam will hold a series of events to celebrate the annual Tet Nguyen Tieu this weekend. The traditional Tet Nguyen Tieu, or the First Full Moon Festival falling on the 15th day of the first lunar month, has long been adored not only by locals but also visitors to the ancient city. According to Pham Phu Ngoc, director of the Hoi An Center for Cultural Heritage Management and Preservation, the festival will be organized on the largest scale ever this year. It takes place in celebration of Hoi An’s First Full Moon Festival being recognized as national intangible cultural heritage early this month. A ceremony to receive the title will be held on the morning of February 5. This year, Hoi An’s First Full Moon Festival will be celebrated with events inside Hoi An’s Old Town as well as neighboring areas, including the Ancient Town night on February 4, a poem night at Cam Pho Temple from 7:30 pm to 9:30 pm the same day, and more. In addition, … [Read more...] about Vietnam’s Hoi An to hold biggest-ever First Full Moon Festival

Ninh Binh Province in northern Vietnam ranked seventh on a list of the 10 most welcoming destinations in the world published recently by Dutch-based online travel agency Booking.com. The ranking was based on an analysis of more than 240 million verified customer reviews on the website. Around 90 kilometers south of Hanoi, Ninh Binh Province is famous for a high density of natural and cultural attractions, including Cuc Phuong National Park, Van Long wetland nature reserve, grotto caves and rivers in Trang An, Tam Coc-Bich Dong and Mua Caves, historic monuments in the Hoa Lu ancient capital, Bai Dinh Temple -- Vietnam’s largest buddhist worshiping complex -- and the Phat Diem Cathedral. The northern Vietnamese province started shining on the global stage after the Hollywood movie ‘Kong: Skull Island’ was filmed there in 2016. It welcomed nearly 330,000 visitors, including over 29,500 foreigners, during the recent seven-day Lunar New Year holiday. La Rioja in Spain topped … [Read more...] about Vietnam’s Ninh Binh world’s 7th most welcoming destination: Booking.com

Many banks in Vietnam have released their business results in 2022, which indicate their hefty profits. According to the 2022 financial report of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), it recorded a pre-tax profit of over VND37.3 trillion (US$1.59 billion), up 36 percent year on year and exceeding its 2022 target. With this result, Vietcombank has taken the lead in pre-tax profit in the entire banking system for five consecutive years. It was followed by Vietnam Technological and Commercial Joint Stock Bank (Techcombank), which earned over VND25.5 trillion (nearly $1.09 billion) last year, rising 10 percent compared with the preceding year. Last year was the ninth straight year that Techcombank had posted a profit growth rate, albeit at a modest rate. Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was also among the banks with a high profit. Its pre-tax profit surged more than 70 percent to nearly VND23 … [Read more...] about Banks in Vietnam report handsome profits in 2022

Vietnam officially set up diplomatic relations with Trinidad and Tobago on Wednesday, taking the number of countries that Hanoi has diplomatic ties with to 192. According to the Ministry of Foreign Affairs, Ambassadors Dang Hoang Giang and Dennis Francis Smith, heads of the delegations of Vietnam and Trinidad and Tobago, respectively, to the United Nations (UN), signed a joint communiqué on the diplomatic tie establishment on behalf of the two governments at the UN headquarters in New York. The two sides agreed to exchange diplomatic representatives at the ambassadorial level under the 1961 Vienna Convention on Diplomatic Relations. On the same day, the joint communiqué was sent to UN Secretary General Antonio Guterres for circulation and to UN member countries for information. With the diplomatic ties with Trinidad and Tobago, Vietnam has had official diplomatic relations with all 35 countries in the Americas and 190 out of the 193 member countries of the UN, proving the … [Read more...] about Vietnam establishes diplomatic ties with Trinidad and Tobago

Authorities in Hai Phong City, northern Vietnam began construction of a bridge to create the fourth linkage of its kind with neighboring Quang Ninh Province on Thursday. Investment in the project, which includes building the Lai Xuan Bridge across the Da Bach River and expanding Provincial Road 352 to connect Hai Phong’s Thuy Nguyen District with Dong Trieu Town in Quang Ninh, totals nearly VND1.33 trillion (US$56.93 million). Of the total, nearly VND550 billion ($23.45 million) is dedicated to the construction of the Lai Xuan Bridge, which will be 840 meters long and 12 meters wide upon completion. The remaining capital is for the renovation and expansion of the 14km-long Provincial Road 352. Delegates press symbolic buttons to start a project to build the Lai Xuan Bridge and renovate a provincial road to directly connect Hai Phong City and Quang Ninh Province in northern Vietnam, February 2, 2023. Photo: Tien Thang / Tuoi Tre The project is being funded by … [Read more...] about Work starts on $23.5mn bridge linking Hai Phong to Quang Ninh in northern Vietnam

UK Minister of International Trade Greg Hands visited Vietnam on Wednesday to explore trade cooperation opportunities between the two countries. His visit came amidst the UK’s pursuit of full membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2023. Vietnam is the first stop on the minister’s three-day trip to three Southeast Asian countries, all of which are founding members of the partnership. During an exclusive interview with Tuoi Tre News , Hands emphasized what the UK can offer the CPTPP, as well as discussed the UK’s strong strategic partnership with Vietnam. In a speech at Lancaster House on January 23, UK Trade Secretary Kemi Badenoch outlined five priorities for trade. What are your priorities as the Minister of State for Trade Policy? My personal priorities are, first, to get the UK into the CPTPP. Vietnam will play a crucial role in that progress. My second priority is to do a free trade agreement with India this … [Read more...] about UK joining CPTPP a fundamental change to the bloc: minister