A Bamboo Airways aeroplane. It plans to increase charter capital through share issuance from VND18.5 trillion to VND28.5 trillion. — Photo courtesy of Bamboo Airways Bamboo Airways has revealed plans to raise nearly VND10 trillion (US$424.1 million) by issuing 996.2 million shares. The move, to be announced at an Extraordinary General Meeting of Shareholders held on April 10th, would raise the airline's charter capital from the current VND18.5 trillion to VND28.5 trillion. The proposed share issuance is slated to take place this year, and there will be no restrictions on the transfer of the newly issued shares. According to Bamboo Airways’ Nguyen Ngoc Trong, the share issuance is to continue their restructuring of organisation and debt and to have more capital for operation and development. Nguyen Manh Quan, the airline’s General Director, said they had found a new investor to replace the old shareholders, former Chairman Trinh Van Quyet and other related shareholders. … [Read more...] about Bamboo Airways to issue nearly one billion shares
Hbmb food share price
Shares rise on foreign buying
A corner of Vinamilk (VNM) Tay Ninh dairy farm. VNM rose 1.2 per cent on Thursday. — Photo Vinamilk Local shares rose for a third day, buoyed by foreign trading and the positive performance of oil and bank stocks. On the Ho Chi Minh Stock Exchange, the VN-Index rose 0.44 per cent to close Thursday at 1,045.10 points. Market breadth was negative with 179 rising stocks and 195 losing ones. Nearly 431 million shares worth VND7.8 trillion (US$332 million) were traded on HCM City’s bourse. On HOSE, foreign investors were net buyers with a value of approximately VND336 billion. Vinhomes (VHM) was the strongest net bought with a value of VND89 billion. This is also the third session in a row that this real estate code has been purchased the most by foreign investors on HOSE. Hoa Phat Group (HPG) ranked next on the list with VND80 billion. Foreign investors also net bought Vinamilk (VNM) and SSI Securities Inc (SSI) with the value of VND68 billion and VND32 billion, … [Read more...] about Shares rise on foreign buying
Eaters enjoy train sounds at Hanoi pho joint
Open from 6 a.m. until 2 a.m. the next day, the shop is a favorite late night haunt for many of the capital's night owls. The restaurant's daytime set up of 7-8 tables expands with an additional 10 tables on nearby sidewalks during the busiest hours of 10 p.m. to 2 a.m. Up to 80 diners can dine at the shop during this time. Three sellers, 58-year-old Kim Oanh, her sister Kim Cuc, and the sisters' sister-in-law, manage the restaurant at No.3 Tran Phu Street. The business is separated into three distinct shifts, each of which is overseen by one of the trio. On average, the shop sells about 400 to 500 bowls of pho per day. According to Oanh, each shift she and her employees serve customers while simultaneously preparing food for the following day. The shop was opened by Oanh's grandfather to serve north-south train commuters in the early 1970s. The business was then passed on to her mother. After her mother passed away, Oanh and her sister took over the business in 1998. Duong … [Read more...] about Eaters enjoy train sounds at Hanoi pho joint
Sugar industry to recover this year
Movements of raw sugar futures in the last five years. Source: tradingeconomics.com Businesses in the sugar industry will rebound, buoyed by higher sugar prices and anti-dumping measures on some sugar cane products originating from Thailand. In February, raw sugar futures hovered at the 6-year high of roughly US 22 cents a pound set on February 27. Specifically, February's average raw sugar price was US 20.23 cents a pound, compared to US 18.87 cents per pound in January and US 18.93 cents in December 2022. According to the Food and Agriculture Organisation of the United Nations, the average sugar price was US 18.5 cents per pound during the first ten months of 2022. The Rome-based agency forecast that by 2029, the average sugar price will reach US 21.3 cents but the fact is that the price exceeded the figure in January. In the international market, raw sugar futures tracked by tradingecnomics.com were traded at US 21.14 cents per pound on Thursday, continuing the rally … [Read more...] about Sugar industry to recover this year
Health ministry proposes excise tax on sweetened drinks
At a Thursday meeting on the impacts of sweetened drinks on health, Tran Thi Trang, deputy head of the legislation department under the Ministry of Health, said the ministry is proposing to apply excise tax based on the amount of sugar contained within 100 ml of the drinks. The proposal was made as the Ministry of Finance was building a draft law on excise tax for sweetened drinks. Trang said there should be sugar thresholds to determine the amount of taxes to be applied, with a higher level of sugar resulting in more taxes. Drinks with a sugar level below a certain threshold would not need to be imposed such a tax, she suggested. However, the health ministry has yet to provide exact sugar level thresholds for this policy. The ministry said certain food products with low levels of sugar, such as milk and dairy products, would not be applied excise tax. In accordance with WHO definitions, sweetened drinks are those that contain added sugar, such as sweetened soda water, … [Read more...] about Health ministry proposes excise tax on sweetened drinks
AI to fuel development of modern agriculture: workshop
Ho Xuan Hung, Chairman of the General Council of Agriculture and Rural Development of Vietnam, said AI-based equipment and machinery are becoming popular in the technology era, including in agriculture. He noted AI can help improve crop productivity; control pests, diseases, and cultivation conditions; and promote the performance of farming-related tasks across food supply chains. Farmers around the globe are applying AI to minimize impacts of chemical use on the environment. Advances in the manufacturing of AI-controlled robots are also helping farmers use less land and manpower while still boosting production. In Vietnam, AI application to agriculture is still new but grabbing attention from the government and businesses due to its advantages over traditional farming method, Hung went on. Echoing the view, Tran Quy, Director of the Vietnam Institute of Digital Economy Development, said the importance of AI to the development of modern agriculture is undeniable, adding that AI … [Read more...] about AI to fuel development of modern agriculture: workshop
Muslim followers in Indonesia start Ramadan fasting month
Indonesian Muslims pray during the start of the holy month of Ramadan at the Baiturrahman Mosque in Banda Aceh, Aceh province, on May 5 (Photo: AFP/VNA) Jakarta (VNA) – Muslims in Indonesia began fasting for the Ramadan festive month on May 6. Minister of Religious Affairs Lukman Hakim Saifuddin said the ministry had received nine reports on sightings of the moon in 102 observation points across the country to decide the beginning day of the most holy month of the year for Muslims in Indonesia. This decision was also considered at a meeting with representatives from the Supreme Court, the Meteorology, Climatology and Geophysics Agency (BMKG), the National Institute of Aeronautics and Space (LAPAN), the Geospatial Information Agency (BIG), and experts from Islamic organisations, according to the Minister. On May 5, Tarawih prayer ceremony was observed in all mosques before the start of the fasting month. Ahead of the festive month, the Indonesian government has … [Read more...] about Muslim followers in Indonesia start Ramadan fasting month
Home-cooked Vietnamese ponyfish soup brings back memories with mom
My memories of the good old days come flooding back every time I try cooking canh chua (Vietnamese sweet and sour soup) with ponyfish, one of my late mother’s home-cooked recipes that are just irresistible. An Bang fishing village, located in Cam An Ward, Hoi An City, Quang Nam Province, central Vietnam, is my hometown that boasts a host of traditional dishes of the central region. Visitors to coastal villages in my hometown should not miss trying freshly made seafood dishes, like grouper, barracuda, and especially ponyfish. Ponyfish are offered for sale at affordable prices at a wet market in Vietnam. Photo: Hoa Vang / Tuoi Tre The ponyfish, which is small-sized, has more bones than meat yet its sweet, buttery, and strong taste is favored by lots of seafood lovers including me. Elderly fishermen said that the ponyfish season starts from the ninth lunar month till early spring. The fish, mainly found inhabiting the Cham island area, comes in various types … [Read more...] about Home-cooked Vietnamese ponyfish soup brings back memories with mom
Displaying readiness for the energy transition in Vietnam
The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam
Hoa Sen Group fined for tax arrears
Workers loading products at a warehouse of Hoa Sen Group. — Photo courtesy of the company Hoa Sen Group was sanctioned for violation of tax regulations by the Tax Department of Binh Duong Province, with a total fine and tax arrears of more than VND2.8 billion (US$119,174), the company said on March 21. In a decision dated March 13 sent to Hoa Sen Group, the Tax Department of Binh Duong Province said that the steel producer has misreported revenue, expenses and other incomes for 2020-2021, leading to underpayment of corporate income tax (CIT) and VAT of VND2.08 billion to the State budget. Therefore, Hoa Sen Group is fined VND415.76 million for the violations. And besides the unpaid amount of CIT and VAT, the company also has to pay for the late payment VND317.6 million. The final payment for fine and tax arrears is VND2.81 billion. In a recent General Meeting of Shareholders 2022-2023, Le Phuoc Vu, chairman of the Board of Director of Hoa Sen Group, said that even though … [Read more...] about Hoa Sen Group fined for tax arrears