Despite two electricity price increases, EVN still reported significant losses in 2023.
In a recent report submitted to the Ministry of Industry and Trade, Vietnam Electricity Group (EVN) stated that it continues to face many difficulties and challenges in ensuring electricity supply and balancing finances. Despite electricity price increases of 3% and 4.5%, EVN still recorded losses in 2023. EVN still recorded an estimated loss of 17,000 billion VND, with the parent company alone losing 24,595 billion VND (according to Tuoi Tre newspaper).
- The Prime Minister has requested an early upgrade of the stock market's status.
Prime Minister Pham Minh Chinh has just signed a directive strengthening measures to promote the safe, transparent, efficient, and sustainable development of the stock market. The Prime Minister requested the Ministry of Finance and relevant agencies to resolutely implement necessary tasks and solutions to upgrade the Vietnamese stock market from a frontier market to an emerging market as soon as possible (according to Tien Phong newspaper).
- The fate of solar power projects remains uncertain as it is still unclear which projects are in violation of regulations.
The Ministry of Industry and Trade has proposed that the Prime Minister approve the implementation plan for the Power Development Plan VIII, excluding the list of concentrated solar power projects that already have investors. The reason is that the provinces have not made firm commitments regarding violations, investment efficiency, etc. (See more)
- 5.3 million farming households participate in e-commerce platforms.
To date, over 5.3 million farming households have created accounts on the e-commerce platforms Postmart.vn and Voso.vn; and 5.8 million farming households have received digital skills training. (See more)
- 17,000 workers in Thai Binh unexpectedly received fire extinguishers from the company.
Mr. Le Tuan Thien, Secretary of the Party Committee of Tan De Sports Goods Manufacturing Joint Stock Company (Thai Binh province), said that the company gave each worker a fire extinguisher to take home. Nearly 17,000 workers happily received the fire extinguishers from the company after their shift as a special gift. (See more)
- A banking PhD was scammed out of over 470 million VND but didn't dare complain to anyone.
Attending the launch of the book "Clever Money Management - Avoiding Worries," Dr. Le Xuan Nghia - a member of the National Advisory Council on Financial and Monetary Policy - shared the story of his close friend, a renowned PhD holder who had worked in the banking industry for many years, but was recently scammed out of 470 million VND online. (See more)
- Another house in Hoi An linked to tycoon Nguyen Lam Huy is being put up for sale by the bank.
Agribank has just announced the first auction of assets, including land use rights, ownership of houses and other assets attached to the land, related to the debt of tycoon Nguyen Lam Huy. (See more)
- The auction for renting the Thuy Ta restaurant in Da Lat, which was held at an exorbitant price, has been officially cancelled.
On December 14th, the Lam Dong Provincial People's Committee announced that it had issued a decision to cancel the auction results for the lease of property on land and annual land rent for a 10-year term for Thuy Ta Restaurant (Ward 1, Da Lat City). Thus, the controversy surrounding the auction for the lease of Thuy Ta Restaurant, which fetched a price of up to 151 billion VND for 10 years, has ended (according to Tien Phong newspaper).
Real estate company suffers hundreds of billions in losses, shares face delisting.
Shares of Tan Ky Real Estate Joint Stock Company (TKC) are scheduled to be delisted from the HNX exchange starting December 22nd due to serious violations of information disclosure obligations and failure to fulfill financial obligations. According to the Q4 2022 financial report, Tan Ky Real Estate has liabilities of VND 1,719 billion, while its equity is negative VND 469 billion. Net profit after tax is negative VND 638 billion (according to Nguoi Lao Dong newspaper).
- The tycoon behind the move into Ocean Group through a 7-day-old company has been revealed.
The former Ocean Group, formerly owned by Mr. Ha Van Tham, still possesses valuable real estate projects and the highly profitable Trang Tien Ice Cream brand. These are also the assets that many discreet tycoons have been targeting in recent years. (See more)
- Before LPBank Securities, which securities company did Mr. Thuy previously head?
Nguyen Duc Thuy's connection with the stock market isn't limited to LPBank, where he has been Chairman of the Board since late 2022. More than 10 years ago, this billionaire "CEO" was the chairman of a securities company. (See more)
Imported fresh pine trees flood the market before Christmas with incredibly low prices.
Instead of buying by weight or spending millions to tens of millions of dong, imported fresh pine trees are flooding the Vietnamese market before Christmas at incredibly low prices. (See more)
Today, global oil prices rose after falling to their lowest level in six months. Domestic fuel prices, managed by the Ministry of Industry and Trade and the Ministry of Finance, are trending downwards, with RON 95 gasoline continuing its fifth consecutive price reduction.
On December 14th, the stock market saw the VN-Index fall by 4.07 points to 1,110.13 points. Trading volume on the HoSE was low, reaching only 12,149 billion VND.
The central exchange rate on December 14th decreased by 9 dong, to 23,945 dong/USD. USD prices at commercial banks remained relatively stable today, closing at 24,050-24,420 dong/USD (buying - selling). Meanwhile, the global USD price declined.
Today, gold prices on the world market surged dramatically from a three-week low. Domestic gold bar prices fluctuated wildly, falling slightly in the afternoon but still remaining above 74.3 million VND/ounce. Gold ring prices also increased sharply, with some brands seeing increases of over 1 million VND/ounce.
Today, December 14th, two more banks, VIB and VPBank, have reduced their interest rates. Interest rates at other banks remain unchanged.
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