Profit and lost report

Chief Justice of the Supreme People’s Court Nguyen Hoa Binh speaks at the meeting. (Photo: VNA) Hanoi (VNA) – Chief Justice of the Supreme People’s Court Nguyen Hoa Binh and Minister of Justice Le Thanh Long cleared up questions regarding asset recovery in corruption cases , at a Q&A session in Hanoi on March 20 as part of the 21st meeting of the National Assembly (NA) Standing Committee. Binh admitted that the work has yet to be done strictly although 40% of the assets were recovered over the past decade. The roadblock lies with the process to prove that the assets are acquired from corruption cases, he said, stressing the need to raise the efficiency of investigations and quickly seal off the assets to speed up the work. For his part, Long reported that as from October 2022, competent forces recovered 17 trillion VND (720.87 million USD), up nearly 12 trillion VND year-on-year. He, however, pointed to a host of obstacles such as the assets in major … [Read more...] about Legislators scrutinise corrupt asset recovery

Silicon Valley Bank. According to VinaCapital, the SVB collapse by itself will end up being neutral for Viet Nam’s stock market and economy. — Photo courtesy of Reuters The Silicon Valley Bank (SVB) collapse by itself will end up being neutral for Viet Nam’s stock market and economy, Michael Kokalari, chief economist at investment fund VinaCapital, has said in a report. “Furthermore, we see no substantial risk that the dynamics which negatively impacted SVB and certain other regional US banks could significantly impact the profitability and/or solvency of banks in Viet Nam.” It was widely reported that latent losses on SVB’s securities portfolio coupled with a drop in deposits at the bank were the main factors that led to its rapid insolvency, it said. Vietnamese banks also held Government bonds on their balance sheets, and the prices of 10-year Vietnam Government bonds (VGBs) had dropped by around 15 per cent since mid-2021 and yields surged. However, VGB holdings only … [Read more...] about Silicon Valley Bank collapse not to impact VN: VinaCapital

Reports delivered at the working session revealed that in realizing General Phan Van Giang’s conclusion at the inspection session in April 2022, the school’s Board of Directors has paid special attention to raising the quality of learning and teaching and scientific research. Speaking at the event, General Phan Van Giang praised the academy’s efforts and achievements over the past time, especially its determination in actualizing the Defense Minister’s direction during the inspection a year ago. Regarding missions in the coming time, the defense minister asked the Army Academy’s Party committee and Board of Directors to continue to embrace higher levels’ directives, resolutions, and orders and concretize them in accordance with its actual situation; address shortcomings; effectively carry out and make strong changes in education and training following the “Training quality is combat readiness capability” motto; review and adjust educational and training contents and programs … [Read more...] about Defense Minister works with Army Academy

Xi will be the first national leader to shake Putin's hand since the International Criminal Court (ICC) issued an arrest warrant for him on Friday over the deportation of Ukrainian children to Russia since its invasion. Russia is presenting Xi's trip, his first since securing an unprecedented third term this month, as evidence that it has a powerful friend prepared to stand with it against a hostile West that it accuses of trying to isolate and defeat Moscow. "We can feel the geopolitical landscape in the outside world undergoing drastic changes," Putin said in an article in China's People's Daily published on the Kremlin website, adding that he had high hopes for the visit from his "good old friend." For Xi, the visit is a diplomatic tightrope. China has released a 12-point proposal to solve the Ukraine crisis, but at the same time strengthened ties with Moscow. China has repeatedly dismissed Western accusations that it is planning to arm Russia but says it wants a closer … [Read more...] about China’s Xi arrives in Russia to meet Putin over Ukraine war

The index closed 22.04 points lower after losing 2.26 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 5.21% to VND9.75 trillion ($413.44 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 28 tickers dropped. TPB of private TPBank led the fall with a 5.3% drop, followed by VCB of state-owned lender Vietcombank, down 4.4%. POW of electricity producer Petrovietnam Power Corporation lost 4.1% and SSI of leading brokerage SSI Securities Corporation closed 3.9% lower. PLX of fuel distributor Petrolimex and VPB of private lender VPBank stayed unchanged. Foreign investors were net sellers to the tune of VND346.24 billion, mainly selling HPG of steelmaker Hoa Phat Group and VIC of private conglomerate Vingroup. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 1.39% while the UPCoM-Index at the Unlisted Public Companies Market was down by 0.54%. … [Read more...] about VN-Index plunges with no blue chip in green

Vietnam has recorded around 13,000 cases of dengue fever so far this year, about 2.3 times higher than the same period in 2022, according to the Ministry of Health. The rising numbers of cases have been recorded in mainly in central and southern localities, the General Department of Preventive Medicine reported. However, Hanoi has also not been spared. The capital’s Center for Disease Control (CDC) has recorded 172 dengue fever cases in 23 of 30 districts, a 20-fold increase from the same period last year. The health ministry said abnormal weather conditions have contributed to the rise in the number of cases. Normally dengue does not hit in such numbers until the rainy season. A surge in cases is expected soon as the country enters the rainy season, it added. On Monday, the ministry asked localities to ramp up environmental cleanup efforts to curb the spread of outbreaks. Medical facilities must ensure enough medicine and equipment to treat patients, it added. Vietnam … [Read more...] about Dengue fever hits before rains this year

Hoang Quan, an office clerk in Da Nang’s Thanh Khe District, says ads with scantily dressed women and gambling games often appear when he surfs the message board or watches Reels on Facebook. "The ads are suggested by Facebook and displayed at specific times: After 4 p.m. it is gambling; in the evening it is sexy and suggestive content," he said. Tuan Phuong of Ho Chi Minh City, another Facebook user, sees similar ads pop up constantly. "Toxic content appears next to posts. Every time I scroll through a few posts of my friends, the News Feed inserts a gambling ad," he says. He says he is flustered when he sees Facebook livestreams with inappropriate content when he is sitting with his child in the evenings. In a VnExpress survey this month 96% of participants said they had seen gambling and other offensive ads on Facebook, with 81% saying they are frequent. An ad with an offensive image on Facebook. Photo by VnExpress/Khuong Nha The situation seems to have … [Read more...] about Gambling ads, adult content make Facebook ‘toxic’

How can 5G and digital transformation impact the performance of industries such as manufacturing, logistics, agriculture and e-commerce over the coming years? Denis Brunetti, president of Ericsson in Vietnam, Myanmar, Cambodia and Laos As a critical digital national infrastructure, 5G has the potential to significantly transform society, industries, and the economy, as well as benefiting the environment. In the past, developing economies depended on traditional inputs to fuel growth, such as low-cost labour and natural resources. Moving forward, the new economy will increasingly depend on more sustainable inputs, such as science, technology and innovation, whereby data will become the new oil that creates as much as drives a more inclusive and sustainable socioeconomic development, securing broader range prosperity for all. Through 5G, the introduction of Industry 4.0 will be accelerated across thousands of factory floors in Vietnam, enabling robots, digital twin … [Read more...] about Going digital and green in partnership with Ericsson

This is therefore an opportune time for the hospitality and real estate industry to reflect on what has happened and discuss was to increase competitiveness in both regional and international markets. Entitled “Vietnam Hospitality and Real Estate - Time for a Level Up”, the Meet The Experts' conference will take place on March 30th in Ho Chi Minh City, with more than 40 of the industry’s leading experts discussing the latest trends and sharing industry insights. Some of the highlighted topics: Vietnam and regional market updates Megatrends and market changes - Unlocking opportunities Judging by numbers - Hotel profitability in ASEAN Real estate conversion in hospitality - Vietnam's potential Megatrends - Consumer experiences that create value Redefining luxury dining and F&B value in real estate Colour trends in interior architecture Lifestyle, boutique, and soft brand hotels - Vietnam's untapped opportunity Investment and development talks … [Read more...] about Hospitality and real estate experts to share their views

Lazada continues to offer new promotions to entice its customer base As one of the early e-commerce players in Vietnam, Lazada is at the forefront of technology to meet customers’ evolving demand. During the Birthday Sale Boom shopping festival in March, the company increased its investments in two new shopping channels, LazLook and LazBeauty, bringing a unique and sophisticated shopping experience to users. There are also myriad promotions for refunds and free shopping. At the same time, the Lazada Super Show virtual music festival has also been held. By integrating 360-degree AR technology, viewers were immersed in unique spaces at home. Meanwhile, the company also applies realistic AI and AR-powered Virtual Try-On to shoppers, enabling beauty lovers to instantly sample products with pictures or live videos of themselves before making a purchase. The moves are all part of attempts to be ahead of the e-commerce game in expectation of an explosion in growth. According to a … [Read more...] about Technology improvements at heart of Lazada’s legacy