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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

Eugene Komboye, a Nigerian artist, is turning discarded plastic flip-flop sandals into colourful portraits in an effort to help clean up the environment in a country where plastic pollution is prevalent. What started as an assignment in college in 2017, has become a full time job for Komboye, whose studio in the city of Abeokuta in the southwest state of Ogun now trains aspiring artists who want to follow in his footsteps and create flip-flop portraits. Nigeria produces at least 2.5 million tonnes of plastic waste annually, according to government figures, with some of it finding its way into the ocean and rivers. Flip-flops are the footwear of choice for many Nigerians and Komboye, 30, sources his material mostly from dump sites, landfills and river banks. Back in his studio he disinfects and washes his findings before cutting them up and pasting them on a board to create a face on each one. Some customers come to his studio with photographs which he will use to create a … [Read more...] about Eco-friendly Nigerian artist turns plastic flip-flops into portraits

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