The Vietnam International Bank (VIB) and Commonwealth Bank of Australia (CBA) announced on Monday that CBA’s HCM City branch would be sold to VIB.

 The influx of foreign fast fashion brands into Vietnam is threatening local retailers’ market share, forcing the firms to move to keep their foothold in the market, Dau tu (Vietnam Investment Review) newspaper reported.

The Ministry of Finance’s (MOF) move to reject LG Display’s plan to increase investment capital by $90 million to $1.59 billion shows state agencies’ concern about possible financial imbalance if foreign-invested enterprises rely heavily on loans.

 Prime Minister Nguyen Xuan Phuc’s visit to Germany and his attendance at the G20 Summit from July 5-8 is expected to showcase Vietnam as a dynamic country, and a trusted and responsible member of the international community.

 Both foreign and domestic banks are racing to develop retail sale strategies in Vietnam, the 93-million-people country-a fertile land for banking retail business.

 Vietnam’s immigration agency on July 2 launched a website where domestic organizations and businesses can apply for visas for their foreign guests to visit the country.

 The South Korean Government’s Economic Development Cooperation Fund (EDCF) will provide a loan $100 million for Vietnam to build or renovate 22 bridges around the country.

 Hoteliers are attracted by Vietnamese rapidly growing tourism sector, robust economic development and infrastructure investments, real estate consultancy Jones Lang LaSalle has said in a recent report.

 The UK-made BullGuard anti-virus software has come to Viet Nam for the first time amid the increasing occurrence of cyber attacks.

Forbes Vietnam on Monday announced Vinamilk topped the 40 most valuable companies in the country with a value of more than US$1.7 billion. This is the second time Vinamilk has reached the top in the Forbes ranking.

 Hanoi will invest in 10 urban railway routes from now until 2030 with total funds of more than US$40 billion.

 In the second quarter of this year, Vietnam recorded a labour force of 54.52 million, of which 53.4 million people aged 15 years or more found work, according to the General Statistics Office (GSO).

 The Hai Van Tunnel, connecting Da Nang City and Thua Thien - Hue Province, will be closed for 30 minutes every day starting from July 11, said the Ministry of Transport (MoT).

 Ly Hoang Nam of Vietnam won his first match at the China F11 Men’s Futures tennis tournament in Shenzhen City, Guangdong Province, on July 3.

 Nine Vietnamese cueists will compete in the three-cushion World Cup championship in Porto, Portugal.

 Le Quang Liem defeated Jianchao Zhou in the fifth round of the World Open 2017 chess tournament in the US on July 3.

 The rising number of single-person households in conjunction with rising incomes in the larger metropolitan areas of Vietnam is helping to fuel a boom in neighbourhood convenience stores.

 The Party Central Committee’s Inspection Commission announced on July 3 that it will consider disciplinary action against some officials for violations.

 FECON Corporation and ACWA Power, a Saudi Arabian company, signed on July 3 a memorandum of understanding (MoU) on cooperation to develop renewable energy projects in Vietnam.

 Police of Moc Chau and Van Ho districts, the northern mountainous province of Son La, arrested five people for illegally transporting and trading 40 packs of heroin on July 2.