Illegal fishing nets

Vietjet aircraft (Photo: VNA) Hanoi (VNA) - Vietjet Air saw an impressive recovery after the COVID-19 pandemic as it recorded a year-on-year rise of 175% in net revenue to 7.35 trillion VND (313.4 million USD), and earned profit of 902 billion VND in the last quarter of 2022. The company’s revenue in 2022 hit 32.5 trillion VND, while profit was limited, reaching only 215 billion VND. It also contributed over 4.3 trillion VND worth of direct and indirect taxes, fees and charges to the State budget. Last year, the carrier transported 20.5 million passengers aboard 116,000 flights, in which domestic transport increased by 20% compared to 2019 before the COVID-19 broke out. Vietjet opened more than 20 new routes in 2022, mainly to the Indian market. As of December 31, 2022, Vietjet had operated a total of 103 routes. In 2023, Vietjet expects high revenue growth thanks to the reopening of the Chinese market and the increased exploitation of potential international … [Read more...] about Vietjet reports over 900 billion VND in profit in Q4/2022

Demand for fresh foods increases ahead of the Ram Thang Gieng (the first full moon of the lunar year) as usual, but market prices have barely changed. The upcoming celebration of Ram Thang Gieng (the full moon of the first lunar month) marks a strong increase in demand for fresh food in the market, but prices have remained stable. People buy fruits at a traditional market in Hanoi to prepare dishes for the celebration of the first full moon in the lunar year. Photo: Hoai Nam/The Hanoi Times The first full moon of the lunar year falls on the 15th day of the first lunar month. On that day, Vietnamese prepare some dishes in honor of the gods, Buddha, and ancestors, and pray for the happiness, luck, and prosperity of their relatives. In 2023, Ram Thang Gieng falls on January 4. Given such meaning,  demand for fresh and good quality food before and during the day tends to increase. In 2023, however, prices for raw and fresh foods are virtually unchanged … [Read more...] about Food prices rise slightly ahead of first full moon

Duong Hung Mien Trung JSC based in Thang Binh District, Quang Nam Province, central Vietnam has shipped two million white-leg breeding shrimp to Taiwan. The parents of these shrimp were imported from Hawaii with a fast growth pace and strong disease resistance. The export affirms the quality of breeding shrimp of Vietnam and a stride in the development of the local shrimp breeding sector and the integration into the international market. Under a contract with its partner, the company will export some 20 million breeding shrimp to Taiwan in 2023. This is good news for Quang Nam Province’s fishing and agriculture as a whole. Duong Hung Mien Trung owns a 4.5-hectare shrimp breeding farm and auxiliary facilities covering four hectares. The shrimp breeding facility annually produces five billion post-larvae shrimp units. With more than 30 years of producing breeding shrimp with 114 breeding farms, Duong Hung Mien Trung has distributed shrimp breeds nationwide through its 32 … [Read more...] about Firm in central Vietnam exports 2mn breeding shrimps to Taiwan

Vincom Pham Ngoc Thach in Ha Noi. Vincom Retail (VRE) and Vincom (VIC) rose 3 per cent and 1.1 per cent, respectively, yesterday. — VNS Photo Mai Huong The VN-Index edged up slightly on Thursday despite two-thirds of shares dipping in the red, driven by the growth of heavyweight shares. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index inched up 0.15 per cent to close the day at 1,077.59 points. The northern bourse’s index decreased more than 3 per cent on Wednesday. Two-thirds of shares on the HoSE lost value, mainly small- and mid-cap shares. From the perspective of industry groups, most of the groups underperformed, except for retail (up 4.2 per cent on average) and banking (0.6 per cent). Data on vietstock.vn showed 18 out of 25 stock groups recorded losses, led by seafood processing companies (down 2.3 per cent on average), agriculture, logistics, machinery, construction and household appliances with each decreasing more than 1 per cent. Blue chips were mixed. … [Read more...] about Heavyweight shares help stop market from a fall

A construction site of Phat Dat Real Estate Development Joint Stock Company (PDR). PDR reported net revenue of VND14.6 billion (US$622,600) in the last 3 months of 2022. — VNA/VNS Photo A volatile real estate market caused revenues and profits of realty businesses to decrease sharply in the fourth quarter of 2022. Phat Dat Real Estate Development Joint Stock Company (PDR) reported net revenue of VND14.6 billion (US$622,600) in the last three months of 2022, a sharp decrease compared to the VND1.29 trillion recorded in the fourth quarter of 2021. The company suffered an after-tax loss of VND229.4 billion in Q4 of 2022, while in the same period in 2021, it reported a net profit of VND751.4 billion. This was considered Phat Dat's "failure" quarter as the company reported a loss for the first time since it announced business results. Dat Xanh Group Joint Stock Company (DXG) reported a loss of VND460 billion in the last quarter of 2022. During the period, the company's net revenue … [Read more...] about Volatile real estate market puts pressure on business results

And while Amazon's holiday revenue beat Wall Street's expectations, the company believes sales growth in its long-lucrative cloud business will slow for the next few quarters, its chief financial officer told reporters. Shares fell 5% in after-hours trade, erasing most of their 7% gain before the market's close Thursday. Making a rare appearance on Amazon's quarterly call with financial analysts, Chief Executive Andy Jassy said "virtually every enterprise" was treading carefully on cloud and other costs in light of economic uncertainty. "We're going to help our customers find a way to spend less money," he said. "We're trying to build a set of relationships in business that outlasts all of us." Facing high inflation and recession fears, Jassy has embarked on extensive cost-cutting inside Amazon as well. Last month, the online retailer said more than 18,000 employees particularly in its commerce and human resources divisions would lose their jobs. It booked a $640 million … [Read more...] about Amazon’s outlook disappoints as customer budgets stay tight

SABECO spends $42 million on cash dividend advances According to its latest financial statement, in the fourth quarter of 2022, SABECO reported revenue of more than $439 million, a sharp increase compared to the first three quarters of 2022 and up 11.4 per cent on-year. Sales expenses increased by more than 70 per cent on-year to $70 million, mainly in the form of advertising, marketing, and promotions. Therefore, SABECO's after-tax profit stood at $46.8 million, down 23 per cent on-year. Throughout 2022, SABECO's net revenue reached $1.53 billion, an increase of nearly 33 per cent compared to 2021, equivalent to an average of more than $4.2 million per day. After-tax profit reached $239 million, the highest since the brand belonged to Thai owners at the end of 2017. SABECO set a revenue target of $1.5 billion and an after-tax profit of $200 million for the year. With the above results, the company has exceeded the target set forth in 2022. The brewer's total assets at … [Read more...] about SABECO gains peak profits over the last six years

A man in the northern central province of Nghe An has just handed over two red-faced monkeys to local forest rangers. A man in the northern central province of Nghe An has just handed over two red-faced monkeys to local forest rangers. Director of Pu Hoat Nature Reserve Management Board, Nguyen Van Sinh announced on Thursday that they had coordinated with forest rangers in Que Phong District to release two red-faced monkeys into the wild. "The monkeys were handed over by a local man who was persuaded by local forest rangers to release them after they had been kept in a cage at his house," Sinh said. "We've also widely announced that keeping wild animals without clear origins was risky and illegal." According to the official, the two monkeys were given a health check which showed that they had a total weight of 16 kilos and were in stable condition. "After finding them in good health, we decided to release them back into a local forest right after receiving … [Read more...] about Nghe An man hands over two red-faced monkeys

Seafood exports reached a record 11 billion USD in 2022, up 24% year-on-year and 22% higher than the year’s target of 9 billion USD. (Source: VNA) HCM City (VNS/VNA) - Despite huge challenges, the seafood sector in 2022 posted a new record in export value of 11 billion USD, up 24% year-on-year and 22% higher than the year’s target of 9 billion USD. Le Hang, communications director of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that this was the highest export value in more than 20 years. Of the amount, shrimp exports hit a record 4.3 billion USD, pangasius exports reached 2.4 billion USD, and tuna exports were 1 billion USD, she added. Vietnam’s largest seafood export markets are the US, Japan, China and the EU. Seafood exports to the US reached more than 2.1 billion USD last year. Meanwhile, exports to China hit a record 1.8 billion USD, up 57% year-on-year. Exports to the EU and the Republic of Korea brought in 1.3 billion USD and 950 … [Read more...] about Seafood exports reach record 11 billion USD in 2022, challenges ahead

The Vietnamese Ministry of Finance has proposed increasing the maximum levels of the environmental protection tax on gasoline, diesel oil, and lubricants in the tax frame and keeping the tax band on kerosene unchanged. The proposal was included in a draft program to develop laws and ordinances in 2024 over which the Ministry of Justice is consulting relevant ministries and agencies. In other words, the Ministry of Finance has proposed amending the Environmental Protection Tax Law. In particular, the minimum environmental protection tax rates on fuels should be kept unchanged, while the maximum rates should be revised up to facilitate policy adjustments when needed. The tax band on kerosene was proposed to be maintained as the product is an essential commodity for the poor and ethnic minority groups in remote areas. In addition, the unit of heavy oil fuel was suggested to be changed from liter to kilogram to match the reality. At present, the band for the environmental … [Read more...] about Vietnam’s finance ministry suggests increasing maximum environment tax levels on fuels