Insurance premium revenue plummets; GDP increases in 9 months

- Insurance premium revenue plummets

After many consecutive years of positive double-digit growth, the total insurance premium revenue of the market recorded negative growth in 2023, for 2 consecutive quarters now. In the first 3 quarters of the year, total revenue reached 165,600 billion VND, down 6.9% (according to Dan Tri).

- GDP in the first 9 months of 2023 increased by 4.24%

The General Statistics Office said that the gross domestic product (GDP) in the third quarter is estimated to increase by 5.33% over the same period last year. In the first 9 months of 2023, GDP increased by 4.24% over the same period last year. (See more)

- Request China to clarify information about Vietnam's aquatic product quarantine

The Department of Quality, Processing and Market Development - Ministry of Agriculture and Rural Development has just sent a document to Nanning Customs - China) requesting clarification of information on quarantine during the customs clearance of Vietnamese seafood and requesting to create favorable conditions for export (according to Tien Phong).

- People have difficulty buying rope ladders and smoke masks, Department of Industry and Trade says it does not manage

At a regular press conference on the afternoon of September 28, in response to people's complaints about the difficulty in finding rope ladders and smoke masks in the area, the Ho Chi Minh City Department of Industry and Trade said that according to the provisions of Decree No. 136/2020/ND-CP of the Government, the Ministry of Public Security is responsible for unifying state management of fire prevention and fighting nationwide. (See more)

Many lodging businesses in Hanoi install fire escapes to prevent unforeseen events. (Photo: Thach Thao).

- Vietnam's stock market has not been upgraded yet.

According to the recently released market rankings of the Financial Times Stock Exchange (FTSE Russell), the Vietnamese stock market has not yet been upgraded to Secondary Emerging market status. According to FTSE Russell, the Vietnamese stock market is still on the watch list and will be considered for upgrading in the review period in March 2024. (See more)

- Reasons why Vietnam's billion-dollar fruits lost their leading position

From an export value of nearly 1.3 billion USD/year, dragon fruit exports are now only about 660 million USD/year. For a long time, this fruit has been dependent on the Chinese market. (See more)

- Harvesting nearly 100 million tons of agricultural products, only worrying about market issues at the end of the year

The output of agricultural products has increased sharply, with the whole year estimated at nearly 100 million tons. Deputy Minister Phung Duc Tien affirmed that he is completely assured of food security issues, and will only focus on the consumption market at the end of the year. (See more)

- The volume of winning treasury bills decreased sharply in the session on September 29.

In the session on September 29, the State Bank of Vietnam (SBV), 4 participating members all won the bid with a total volume of 3,800 billion VND, the winning interest rate was 1%, the highest since the beginning of the issuance. This is the 7th consecutive issuance of treasury bills by SBV with a total scale of nearly 93,800 billion VND. In previous sessions, SBV often attracted 10,000-20,000 billion VND through treasury bills each session. (according to Nhip Song Thi Truong)

- VinFast shares rebound after 6 sessions of decline, capitalization reaches 28 billion USD

VinFast shares rebounded, increasing by more than 10% after 6 consecutive sessions of decline, bringing the market capitalization to 28 billion USD. At the current price, VinFast Auto's market capitalization stands at over 28 billion USD. (See more)

- Billionaire Tran Ba Duong's Thaco profits 'evaporated' thousands of billions

Billionaire Tran Ba Duong's Thaco Group reported that after-tax profit in the first 6 months of 2023 was only nearly 1,100 billion VND, down nearly 4,000 billion VND compared to the same period due to continued difficulties in the automobile market. (See more)

- Mr. Thuy 'plays big', lets employees take time off for their birthdays and still receive their salary

Mr. Thuy's bank makes bankers jealous when LPBank employees get 1 day off on their birthdays while still receiving full pay. Not only do LPBank employees get a day off and receive full pay, they also get a cash bonus on their birthdays. This is said to be the first time a bank has made such a decision. (See more)

- Sovico earns 1,547 billion VND in profit after merger, adjusting bond term

Sovico Group's after-tax profit reached VND1,547 billion in the first 6 months of the year, 3.7 times higher than the same period in 2022. Sovico Joint Stock Company has just announced the adjustment of the maturity of 5 bond lots by 2 years. (See more)

- Mixue reduces selling price, franchise investors are upset

Many Mixue franchise store owners were upset when the company lowered product prices by 25% to increase the number of customers but only lowered input material prices by 10%, causing investors to lose profits (according to Dan Tri).

- Agricultural product prices race to set records, farmers win big

Not only durian and rice, but many other agricultural products such as sugarcane, coffee, sweet potatoes... also have record high prices. Thanks to that, farmers have won big this time, earning billions after each harvest. (See more)

- Fruit prices increase sharply during Mid-Autumn Festival

Today is the Mid-Autumn Festival. At traditional markets in Hanoi, prices of many types of flowers, fruits, and goods have increased by 10-30% compared to last week (according to Lao Dong).

- iPhone 15 officially launched in Vietnam

At exactly 0:00 on September 29, a number of retail systems organized a program to open the sale of genuine iPhone 15s in the Vietnamese market. According to the dealers, the iPhone 15 Pro Max 256 GB version in natural titanium color is the model most chosen by Vietnamese people (according to Nhip Song Thi Truong).

World oil prices today tend to cool down after rising to a 10-month high. Brent oil price is at 95 USD/barrel, while WTI oil price is down to 92 USD/barrel.

On the stock market , at the end of the session on September 29, VN-Index increased by 1.72 points to 1,154.15 points. The biggest driving force for VN-Index was the Vingroup group after a period of "unstoppable decline".

The USD price in banks today dropped rapidly, some banks reduced it by more than 100 VND, the USD selling price at many banks has fallen below 24,500 VND/USD. The central exchange rate is still increasing. The international USD price has stagnated.

Gold prices today on the world market continued to decrease in the context of economic data supporting the USD's increase. Domestic gold prices edged up slightly.

No bank adjusted its interest rates on September 29. It is likely that the bank interest rates have hit rock bottom and formed a new level.

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