Insider trading in securities

Police in the northern coastal city of Haiphong seized hundreds of kilos of ivory illegally imported from Africa at Lach Huyen Port on Thursday evening. Police in the northern coastal city of Haiphong seize 490 kilos of ivory illegally imported from Africa at Lach Huyen Port on February 2. The ivory was hidden in a container owned by HMD Technicality Technology Joint Stock Company. The container was transported on the XinWenZhou 147E ship which arrived at Lach Huyen Port on January 22. HMD had declared that the container contained cow horn which had been cleaned and dried. They imported the goods from Nigeria to make handicraft products. This kind of good is allowed to be imported following the Convention on International Trade in Endangered Species of Wild Fauna and Flora. However, through checking, customs officers and police at the port then found 117 pieces of ivory weighing 490 kilos hidden among the cow horns inside the container. Vietnam has an ivory … [Read more...] about Illegally-traded ivory seized at Haiphong port

Synopsis Plaintiffs had claimed billions in damages and the decision also had been seen as important for Musk himself, who often takes to Twitter to air his views. A US jury on Friday found Tesla Inc chief executive officer Elon Musk and his company were not liable for misleading investors when Musk tweeted in 2018 that he had "funding secured" to take the electric car company private. Plaintiffs had claimed billions in damages and the decision also had been seen as important for Musk himself, who often takes to Twitter to air his views. The jury came back with a unanimous verdict roughly two hours after beginning deliberations. Musk was not present in court when the verdict was read but soon tweeted that he was "deeply appreciative" of the jury's decision. "Thank goodness, the wisdom of the people has prevailed," he said. Nicholas Porritt, a lawyer for the investors, said in a statement, "We are disappointed with the verdict and are considering next steps." … [Read more...] about Tesla’s Elon Musk found not liable in trial over 2018 ‘funding secured’ tweets

A petrol station in HCM City (Photo: VNA) Hanoi (VNS/VNA) - Prime Minister Pham Minh Chinh has asked the Ministry of Industry and Trade (MoIT) to take measures to ensure the supply of all key commodities, especially fuel, and to stabilise the country's distribution channels for the economy after the Tet (Lunar New Year) holiday. Vietnam Electricity (EVN) was told to speed up the construction and implementation of major power projects, including renewable energy, to ensure enough power for the country's crucial industries. In addition, priority should be given to connecting isolated and remote communes to the national power and telecommunication networks. MoIT, the ministry in charge of Vietnam's power sector, was told to quickly finish and submit the country's Power Planning VIII to the central government for review. The PM said the country's top priority in the short term is to focus on boosting exports, especially agriculture products to China and neighbouring … [Read more...] about MoIT proposes adjusting fuel prices every Thursday

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

For U.S. Ambassador to Vietnam Marc Evans Knapper, the bilateral relationship between Vietnam and the United States is already fundamentally strategic in nature. He is “extremely hopeful” about the possibility of upgrading the relationship to a strategic partnership. Elevating Vietnam – U.S. relations to a strategic partnership has been a prospect for a long time, and will certainly be one of the top priorities in the agenda for 2023 as the two countries celebrate the 10th anniversary of the existing comprehensive partnership. This will also be a milestone for Ambassador Knapper, who started his tenure at a special time. The role of the U.S. as a superpower has become even more important as global politics have witnessed ups and downs with economic difficulties, armed conflicts, and geopolitical tensions. In this context, the relationship between the U.S. and Vietnam, widely seen as a country with an important geopolitical position in the Indo-Pacific, is worth considering as a … [Read more...] about Vietnam – US relations naturally strategic: ambassador

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

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

More than 80% of rice varieties in Vietnam are fragrant high-quality rice, which is an important factor that helps increase Vietnamese rice's value and accessibility to markets.(Photo: VNA) Hanoi (VNA) – Vietnam’s rice export is forecast to continue reaping successes this year as the world's rice prices remain high at least in the short term as global economic and political uncertainties have resulted in a high demand for rice reserves, according to experts. According to the Vietnam Food Association, by the middle of last month, Vietnam earned nearly 115 million USD from exporting more than 226,000 tonnes of rice, an increase of over 41% in terms of both volume and value compared to the same period last year. The country exported ST24 and ST25 rice to the Middle East region with a record-high price of 1,000 USD per tonne, doubling the price of normal white rice. Vietnamese rice further penetrated demanding markets like Japan and the EU. According to experts, more than 80% … [Read more...] about Vietnam’s rice export forecast to enjoy another successful year

Minister of Finance Ho Duc Phoc (centre) speaks at the event. (Photo: VNA) Hanoi (VNA) – As many as 3,943 business establishments are set to roll out e-invoices generated from cash registers by March 2023, including 1,850 businesses and 2,093 business households. General Department of Taxation (GDT) at a meeting co-organised by the Ministry of Finance (MoF) and the Ministry of Public Security (MoPS) on the matter in Hanoi on February 3. According to Minister of Finance Ho Duc Phoc, the rollout of e-invoices generated from cash registers aims to prevent revenue losses and improve compliance. The MoF targets connect all e-invoices generated from cash registers to the tax authorities' data system, he said, adding that Hanoi, Hai Phong and Ho Chi Minh City will be piloted, with focus on key areas such as restaurant and hotel business, supermarket, and jewelry trading./. VNA … [Read more...] about Nearly 4,000 business establishments to use e-invoices from cash registers