Apricot blossoms vibrant southern province

 In such a village in the central coastal province of Phu Yen the beauty of apricot blossoms, one of the typical flowers of Vietnam in Tet holiday is attracting visitors.

Even with a stable market, FX hedging is advised

 For multinational companies and foreign investors doing business in Vietnam, experts advocate minimising the FX risk through hedging, knowing that the dong may be steady today but may move unexpectedly tomorrow.

U.S. firm eyes 49% stake in Dung Quat Oil Refinery

 Polestar Inc, a firm specializing in oil and gas transport in Texas in the U.S., wants to acquire a 49% stake in Binh Son Refining and Petrochemical Company (BSR), the operator of Dung Quat Oil Refinery.

BUSINESS IN BRIEF 12/1

HCM City retail grows by more than 11 percent in 2017, PetroVietnam told to thoroughly deal with ailing projects, Vinasugar II to auction 93% stake next month, Lower tax helps reduce E5 bio-fuel price

Social News 12/1

 2 police injured in Dien Bien drugs ring bust, PM hosts American Bar Association President, Australia funds project to raise economic rights of ethnic minority women, 27 wild animals returned to the wild in Kon Tum

Vietnamese American film director Gauger dies of stroke

 Vietnamese American film director Stephane Gauger of Yêu Đi, Đừng Sợ (Kiss and Spell) has died of a stroke at the age of 48, according to a representative from the production team behind the movie.

Nominations open for Devotion Music Awards

 Music reporters gathered in Hanoi and HCM City to select the nominees for the annual musical awards by Vietnam News Agency’s Culture & Sport newspaper.

Vietcombank reports record pre-tax profit

 Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) reported a pre-tax profit of more than VND11 trillion (US$482.5 million) in 2017.

Sale of motorcycles up in 2017: VAMM

 Members of the Vietnam Association of Motorcycle Manufacturers (VAMM) sold more than 3.2 million motorcycles in 2017, marking a year-on-year increase of 4.8 per cent.

F&N eyes 14.5 million more Vinamilk shares

 F&N Dairy Investments Pte Ltd has registered to purchase 14.5 million shares in Vietnam Dairy Products JSC (Vinamilk) in a bid to raise its ownership in Vietnam’s largest dairy producer.

Miss Ocean told to step down

 VietNamNet Bridge – The Department of Performing Arts ordered the organising board of Miss Ocean 2017 to dethrone Le Au Ngan Anh, winner of the beauty pageant, for failing to satisfy the requirements of the contest.

SBV warns 15 banks against risky lending

 The State Bank of Vietnam (SBV) has issued warnings to 15 commercial banks as they have offered too much credit for some high-risk sectors, news website Dan Tri quoted SBV deputy governor Dao Minh Tu as saying on January 9.

Ministry wants higher base salary for public servants

 The Ministry of Home Affairs is consulting relevant ministries and agencies over a plan to raise the monthly base salary from the current VND1.3 million to VND1.39 million (US$61.2) for public officials and employees as well as armed forces.

Kien Giang names three tourist zones

The People’s Committee in the Mekong Delta province of Kien Giang has recognised the Nam Du Archipelago and Lai Son Island in Kien Hai District and Hai Tac Archipelago in Ha Tien Town as local tourist zones.

Music concert to be held to mark 45 years of Vietnam-Japan relations

 Popular Japanese music band “Kuricorder and Friends” will come to Vietnam for a music concert in Hanoi on January 12 and in HCMC on January 14.

HCM City west becomes new housing hotspot

The housing market in HCM City's western part has recently become attractive, especially apartments in the affordable segment costing around VND2 billion (US$87,000), analysts said.

PV Power to hold IPO roadshows next week

 PetroVietnam Power Corporation (PV Power) will hold two roadshows to introduce the investment opportunity in the company’s initial public offering (IPO), scheduled on January 31 on the Ha Noi Stock Exchange.

Viettel renamed Military Industry and Telecoms Group

 Military-run telecommunications company Viettel Group was officially renamed Viettel Military Industry and Telecoms Group and recognised as the national defence and security enterprise with 100 per cent State-owned capital.

Vietnam among world’s 10 happiest countries in 2017

 Vietnam has recently made the list of the 10 happiest countries in the world in 2017, according to the 41st Annual Global End of the Year Survey conducted by Gallup International Association.

Firecracker smuggling increases ahead of Tet

 VietNamNet Bridge – Firecracker smuggling is on the rise as the Tet (Lunar New Year) approaches.

Weekend entertainment in Saigon

 Following are a couple of entertainment and cultural events held in HCMC this weekend.

Ministry insists on excise tax on sugary drinks

 The Finance Ministry has insisted on levying a special consumption tax on sweetened beverages, except for dairy products, news website Vietnam Finance cites the ministry’s latest draft of the amended law on taxes.

2017 a stormy year for bankers

Former Deputy governor of the State Bank of Vietnam (SBV) and many other bankers were prosecuted for violations in bank related fields in 2017.

Will Cape Town be the first city to run out of water?

 Cape Town, home to Table Mountain, African penguins, sunshine and sea, is a world-renowned tourist destination. But it could also become famous for being the first major city in the world to run out of water.

Stock accounts opened by foreign investors post record increase

 Vietnam Securities Depository reported that there were 447 foreign investors granted with transaction codes in the stock market last December, higher than the previous month when it reached 428 investors.