Enough coal and gas for electricity production; report on Tet flight plan

- Ministry of Industry and Trade requires ensuring coal and gas supply for electricity production

The Ministry of Industry and Trade has just issued a directive document on ensuring coal and gas supply for electricity production in the last months of 2023 and the following years. Accordingly, the Ministry of Industry and Trade requests relevant units to implement the direction of the Government and the Ministry of Industry and Trade on urgently developing a plan to implement the task of ensuring coal and gas supply for electricity production in the last months of 2023 and the following years, and report to the Ministry of Industry and Trade in October 2023 (according to VNA).

- Request airlines to report Tet flight plans and ticket prices

The Civil Aviation Authority of Vietnam requires airlines to report on market demand, operating plans,... and increase capacity on specific routes during the peak period of Lunar New Year 2024. (See more)

- Ministry of Finance speaks out about bank's arbitrarily collecting 270 billion debt from the Petroleum Stabilization Fund

At the regular press conference of the Ministry of Finance held this afternoon, October 5, the leader of the Price Management Department (Ministry of Finance) said that he will coordinate with competent authorities to clarify the case of banks arbitrarily collecting debts of 270 billion VND from the Petroleum Price Stabilization Fund account opened by businesses at the bank. (See more)

- Nearly 54,000 billion VND of bonds mature at the end of the year, the market is gradually "warming up"

According to the Hanoi Stock Exchange (HNX), the third quarter of 2023 recorded 88 successful domestic corporate bond issuances. The total issuance value reached about VND 100,163 billion, nearly 2.6 times higher than the second quarter of 2023 and increased by 50% over the same period. It is estimated that in the fourth quarter of 2023, there will be about VND 53,757 billion of corporate bonds maturing, down 26.4% compared to the third quarter of 2023 (according to Lao Dong).

- State Bank approves VietinBank to increase capital to more than 53,700 billion VND

The State Bank of Vietnam (SBV) has just issued a document approving the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to increase its charter capital by nearly VND 5,643 billion, according to the plan to issue shares to pay dividends from the remaining profit after tax, after setting aside funds and paying cash dividends in 2020. After completing the issuance, VietinBank's charter capital will increase by nearly VND 5,643 billion, from VND 48,057 billion to more than VND 53,700 billion (according to Nhip Song Thi Truong).

- Nearly 99,000 billion VND in tax refunded in the first 9 months of the year

As of the end of September 2023, the tax authority had issued 12,721 VAT refund decisions with a total refund amount of nearly VND 99,000 billion. The above information was mentioned by the General Department of Taxation in the report on tax implementation in September and the third quarter of 2023. (See more)

- Ministry of Finance continues to inspect a series of life insurance companies

The Ministry of Finance has completed inspections at two life insurance companies, is inspecting two more companies, and will continue to inspect six more insurance companies by the end of the year. A representative of the Insurance Supervision and Management Department - Ministry of Finance said this at the regular press conference of the third quarter of the Ministry of Finance, which took place on the afternoon of October 5 (according to Tuoi Tre).

- Banks are not allowed to pressure employees to sell insurance.

At the Banking - Business Connection Conference in Thai Nguyen on October 4, a representative of the Banking Inspection and Supervision Agency said that the State Bank has repeatedly issued warning documents and rectified the activities of insurance agents at banks and credit institutions. In particular, it requires reviewing, considering, and arranging insurance consultants so that they are not under pressure from KPI (performance evaluation index) on insurance sales. (See more)

- Interest rates are no longer a problem, businesses and banks still have difficulty 'meeting' each other

Although lending interest rates have decreased, many businesses in Thai Nguyen have reported difficulties in accessing bank capital. Meanwhile, bank branches are still under pressure to meet lending targets. (See more)

- VinFast is about to announce important news, capitalization is about 22 billion USD

vfs2023oct03 9usd 1351.jpg — VinFast shares fall to lowest level since listing on Nasdaq.

VinFast shares fell for the fourth consecutive session, bringing VinFast Auto's market capitalization to $21.45 billion. Billionaire Pham Nhat Vuong's electric car company will announce its third quarter 2023 business results before the opening of the session on October 5. (See more)

- Novaland has not had 165 billion VND to pay principal and interest on bonds

According to the payment schedule, on September 30, Novaland Group had to pay the total principal and interest of 165 billion VND for the bond lot issued on March 31, 2022. However, Novaland has not been able to pay because it has not arranged enough money (according to Dan Tri).

- Mooncakes reduced to 10,000 VND but still waiting for customers

After the Mid-Autumn Festival, stalls selling moon cakes and moon cakes at big discounts have flooded Hanoi's sidewalks with prices ranging from only 10,000-35,000 VND each. However, not all stalls have many customers asking to buy. (See more)

Oil prices on the world market today recovered after a sharp drop yesterday. Brent crude oil prices reached 86 USD/barrel, while WTI crude oil prices were at 84 USD/barrel.

On the stock market , on October 5, the VN-Index fell nearly 15 points, 3 state-owned bank stocks became the "culprits", having the most negative impact on the index.

USD bank prices today fluctuated little. The central exchange rate increased by 1 VND compared to yesterday. The world USD price cooled down.

Gold prices on the international market today increased again in the context of the USD cooling down. SJC gold prices increased sharply in the afternoon, reaching the mark of 69 million VND/tael again.

Today's bank interest rates recorded two more banks reducing deposit interest rates, Viet A Bank and PG Bank. Since the beginning of the month, 10 banks have reduced interest rates.

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