SEVEN.AM products on display at an outlet. Photo courtesy of SEVEN.AM. All six SEVEN.AM stores in the capital city opened after the Vietnam Directorate of Market Surveillance said it did not find any sign that the chain had replaced made-in-China labels on its products with Vietnamese ones as reported by local media. However, Hanoi-based MHA Jsc, which owns the SEVEN.AM brand, was fined VND110 million ($4,740) for some labeling mistakes, including listing incorrect information on its products including year of production and material used, the directorate said in a statement. Another company, Thu Ky International Fashion, a franchisee of SEVEN.AM, was fined VND60 million ($2,585) for similar mistakes. The directorate’s investigation found that a manufacturer of SEVEN.AM products in Ha Dong District had imported goods from China in 2017 and 2018, but had sold all of them. It does not sell them any longer, the directorate said, but did not state whether or not the labels on … [Read more...] about Fashion brand SEVEN.AM resumes Hanoi business
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VATM marks its 900,000th safe flight in this year
Over the past 25 years, the corporation has made all efforts to ensure safety for millions of flights within its responsibility airspace to reduce air traffic, and focused on applying advanced technologies, investing infrastructure and developing a high quality human resource. The firm has provided air navigation services for flights on 31 domestic air routes and 36 international air routes, ensuring safety for more than 2,000 flights to/from or flights over Vietnam’s airspace each day. In 1976, the International Civil Aviation Organization (ICAO) assigned the Bangkok, Singapore and Hong Kong Area Control Centers to provide air traffic services for flights operating within areas consisting of the airspace of Vietnam’s national sovereignty and the airspace over international waters in the East Sea. In 1994, The Vietnamese aviation sectoc received the right to manage the southern part of the Ho Chi Minh FIR. By BICH QUYEN - … [Read more...] about VATM marks its 900,000th safe flight in this year
Vietjet Air launches Hanoi-Delhi direct route
Illustrative image (Source: Vietjet Air) New Delhi (VNA) – The first direct flight from Hanoi to India’s New Delhi landed at Indira Gandhi International Airport on December 7 night after travelling for more than five hours. Vietnamese Ambassador to India Pham Sanh Chau was present at the airport to welcome passengers of the flight that was operated by budget carrier Vietjet Air. The ambassador expressed his hope that the direct air route will facilitate cultural and people-to-people exchanges between the two countries, as well as the bilateral trade, investment and tourism ties. On December 6, Vietjet Air also launched its first direct flight from Ho Chi Minh City to the Indian capital city. Vietnamese Ambassador to India Pham Sanh Chau was present at the airport to welcome passengers of the flight that was operated by budget carrier Vietjet Air. (Photo: VNA) Vietjet is the first airline in Vietnam to operate as a … [Read more...] about Vietjet Air launches Hanoi-Delhi direct route
Liquidating morgaged assets to recover bad debts still difficult
With the financial year drawing to a close, banks are busy selling mortgaged properties to resolve bad debts, recovering capital. Photo vov.vn With the financial year drawing to a close, banks are busy selling mortgaged properties to resolve bad debts, recovering capital. On November 22, Vietinbank’s Kien An branch announced auctions to recover four large non-performing loans worth dozens of billions to trillions of dong. They include a VND27 billion (US$1.17 million) loan owed by the Hon Ngoc Liability Limited Company. The lender’s Dong Nai branch announced the sale of two properties to recover VND1.2 trillion ($52.17 million) and VND4.3 trillion ($156.95 million) from the Tan Mai Mien Dong Joint Stock Company and Tan Mai Mien Trung Joint Stock Company. Recently, SHB decided to sell a mortgaged asset worth VND9 billion by an individual customer. Others like Sacombank, MB, Agribank and BIDV have been announcing a number of auctions of mortgaged properties. A State Bank of … [Read more...] about Liquidating morgaged assets to recover bad debts still difficult
Thanh Thanh Cong Investment to buy 16 mln shares of Sai Gon Thuong Tin Real Estate
An overview of Panomax River Villa project in HCM City's District 7 (Source: panomaxrivervilla.net) Hanoi (VNS/VNA) - Thanh Thanh Cong Investment JSC is to buy more than 16 million shares of Sai Gon Thuong Tin Real Estate JSC (SCR), equivalent to 4.7 percent of the company’s outstanding shares. The transaction is scheduled from December 5 to December 31. Thanh Thanh Cong said the company is expected to spend 100 billion VND (4.3 million USD) for the acquisition. On the stock market, SCR shares price has plunged to the bottom of the last three years since 2016. Since earlier this year, SCR shares have been traded with stable liquidity with an average of 2.8 million shares matched during each session. The figure for the nearest 10 sessions is 3.2 million shares matched per day. In the first nine months of this year, SCR saw an increase of 50 percent in post-tax profit, reaching 304 billion VND, fulfilling 95 percent of the yearly plan. In the last quarter of this … [Read more...] about Thanh Thanh Cong Investment to buy 16 mln shares of Sai Gon Thuong Tin Real Estate