- National Assembly finalizes salary reform, pension increase from July 1, 2024
On the morning of November 10, the National Assembly voted to approve the 2024 State budget estimate. Accordingly, from July 1, 2024, salary reform will be implemented along with adjustments to pensions, social insurance benefits, monthly allowances, preferential allowances for meritorious people and a number of social security policies currently linked to the basic salary. (See more)
- Proposal to allocate more than 9,600 billion VND to compensate for Nghi Son oil refinery project
Continuing the 6th Session, on the afternoon of November 10, the National Assembly voted to pass the Resolution on the Central budget allocation plan for 2024. The National Assembly Standing Committee proposed to allocate 9,653 billion VND in the Central budget estimate for 2024 to implement price compensation in the product consumption of the Nghi Son oil refinery project on the basis of the Government determining accurate data, and at the same time, the data must be audited by the State Audit Office similar to the regulations that the National Assembly has allowed in 2023 (according to Dan Tri).
- 128 corporations will be subject to global minimum tax adjustment
On the morning of November 10, Minister of Finance Ho Duc Phoc, authorized by the Prime Minister, presented a draft resolution on the application of additional corporate income tax in accordance with regulations on preventing global tax base erosion. The Government's impact assessment report calculated that about 122 foreign-invested corporations will be subject to the Resolution's adjustment. For domestic corporations, it is expected that 6 corporations will be subject to the Resolution's adjustment and the estimated additional corporate income tax that can be collected from overseas investments of these corporations is about 73 billion VND (in case the receiving countries do not apply the global minimum tax) (according to Lao Dong).
- Banks are prohibited from selling investment-linked insurance to borrowers.
In order to limit the situation of forcing customers to borrow money from banks to buy insurance with their loans, the Ministry of Finance prohibits banks from selling investment-linked insurance to customers 60 days before and after disbursement. That is the notable content in Circular 67/2023/TT-BTC guiding the Law on Insurance Business, which has just been issued by the Ministry of Finance. (See more)
- More than 100 Chinese enterprises present in Lao Cai to attend the International Fair
More than 100 Chinese enterprises exporting, importing, and processing agricultural products, fruits, and aquatic products have arrived in Lao Cai to participate in the 2023 Vietnam - China International Trade Fair. This year's fair has 529 booths, including 156 booths of 109 enterprises from 8 provinces and cities of China, 24 booths of 11 enterprises from 8 third countries and 439 booths from 165 enterprises from 46 provinces and cities of Vietnam (according to Lao Dong).
- Female entrepreneur mobilizes more than 1,200 billion to grow virtual Ngoc Linh ginseng
Cau Giay District Police (Hanoi) has initiated a case, prosecuted the accused, and detained the Chairman of the Board of Directors of My Hanh Group Joint Stock Company in connection with the case of calling for investment in the Ngoc Linh ginseng project with the amount of 1,264 billion VND from many people. However, many people reported that My Hanh Group did not have Ngoc Linh ginseng planting projects as advertised. (See more)
Chaotic Ngoc Linh ginseng market
Ngoc Linh ginseng is a valuable crop. Ngoc Linh ginseng is considered a "national treasure" of Vietnam, and is among the best ginsengs in the world. With a selling price of about 300 million VND/kg, this medicinal plant helps many farmers in the mountainous areas of Quang Nam, Kon Tum... earn billions. However, the market for this product is in chaos as cheap Chinese goods flood in. (See more)
- Continuous losses, Vietnam Airlines is about to receive a dividend of 43 billion VND
The Board of Directors of Noi Bai Cargo Services JSC (NCT) has just agreed on a plan to pay the first cash dividend of 2023 at a rate of 30%. Accordingly, major shareholder Vietnam Airlines will receive 43 billion VND in dividends. With losses of thousands of billions of VND in recent quarters, the above dividends received by Vietnam Airlines cannot help this airline escape its difficult situation. (See more)
- China buys all, agriculture has an additional billion USD item after 10 months
By the end of October this year, the agricultural sector had an additional export item earning 1 billion USD. Accordingly, China is a major customer, buying more than 90.4% of our country's cassava and cassava products. (See more)
- Vietnamese rice export price is the most expensive in the world, both happy and worried
Surpassing the top of major exporting countries, Vietnamese rice prices are the most expensive in the world. However, experts warn of risks to this commodity of our country when prices increase too high. (See more)
The stock market on November 10 recorded the VN-Index falling 12.21 points to 1,101.68 points. Selling pressure increased across the board, with the main pressure coming from bluechip stocks, causing the VN-Index to reverse and decrease. Notably, while the market was in the red, the electricity stocks reversed the trend quite successfully.
The central exchange rate on November 10 increased by 12 VND. The USD price at commercial banks today decreased quite sharply, losing the 24,500 VND/USD mark in the selling direction. The world USD price also decreased.
Today's world oil prices continued to climb from the previous session. Oil prices rose due to signs of increased demand from China.
The world gold price today reversed and increased quite strongly despite many economic news that did not support the precious metal. The domestic gold price increased by 200,000 VND/tael in both directions.
Bank interest rates on November 10 recorded a surprise further decrease by the “big guy” Vietcombank. Interest rates on 1-2 month term deposits dropped to a record low of 2.6%/year.
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