Between January and September, FPT's revenue increased 20.5 percent to VND19.6 trillion ($847.38 million) while its pretax profit increased 28 percent to VND3.51 trillion ($151.75 million). Foreign markets alone brought FPT more than VND8.2 trillion ($354.52 million) in revenues and VND1.34 trillion ($57.93 million) in pretax profits. The proportion of revenue and profit from foreign markets contributed 42 percent and 38 percent respectively to the consolidated results of the group. Serving as the main growth engine, the firm's technology sector achieved revenue and pretax profit of VND11.07 trillion ($478.6 million) and VND1.47 trillion ($45.27 million) respectively for year-on-year increases of 25 percent and 42 percent. Last year, FPT announced the acquisition of a 90 percent stake in Intellinet Consulting (Intellinet), one of the fastest growing technology consulting companies in the U.S. The deal was estimated at $40-50 million, with FPT paying $30 million upfront and paying … [Read more...] about FPT profit up 28 percent in 9 months
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A Vietcombank office. The bank's stock were among the large-caps that fell on Monday. — Photo vietcombank.com.vn HÀ NỘI — Vietnamese shares slipped on Monday as investors continued seeking profits from previous gains made by large-caps. The benchmark VN-Index on the Hồ CHí Minh Stock Exchange dropped 0.70 per cent to close at 1,002.91points. Việt Nam’s benchmark index closed down 1.2 per cent last week. More than 184.3 million shares were traded on the southern bourse, worth VNĐ4.2 trillion (US$181.5 million). Declining stocks outnumbered gainers by 197 to 132, indicating relatively strong selling pressure. The stock market was under large-scale selling pressure and the VN-Index was pushed back near 1,000 points. The benchmark VN-Index lost in four of all five trading days last week after having approached the 1,025-point level on November 6. According to analysts, the 1,025-point zone would be a very … [Read more...] about Local stocks keep falling on profit earning
The CBU (complete built unit) imports to Vietnam in the first seven months of the year were five times higher in number than in the same period last year. Minister and Chair of the Government Office Mai Tien Dung has said that the government will soon amend Decree 116/2017 on conditions to manufacture, assemble, import and trade cars and maintenance services. It is expected that provisions related to car imports will be removed. Instead of examining cars by consignments as currently regulated, the government would amend the legal document, so that imports would be examined by vehicle type, while pre-customs clearance examinations would be replaced by post examination. Car importers believe that once the decree is amended, it will be easier for CBU imports to enter Vietnam. According to a representative of Thaco, ‘examination by type’ means that state agencies will take samples to test emissions and safety, and the results of the tests will be applied to the next … [Read more...] about Will car imports ‘crush’ domestically assembled cars?
Asked about the import tariff on luxury cars from Europe after the EVFTA takes effect, the Ministry of Industry and Trade (MOIT) said the competitiveness of EU sourced cars would improve. According to MOIT’s Deputy Minister Tran Quoc Khanh, high-cylinder capacity cars (more than 2500 cc) will see tariffs gradually cut to zero percent after nine years. Meanwhile, the tariff cut for less than 2500 cc cars will be implemented over 10 years, and the roadmap for car parts will be seven years. At present, cars from the EU bear a high tax rate of 70 percent. The selling price is 2-3 times higher than the original price because the cars bear many kinds of taxes and fees. The trade agreement includes an important provision that, five years after the agreement takes effect, Vietnam will accept the EU quality certificate, which means that the EU’s cars won’t need quality certificates to enter Vietnam. This means that Vietnam will create more favorable conditions for … [Read more...] about Vietnamese told not to expect high-end cars to become cheaper
Illustrative image (Photo: NK) Seoul (VNA) - The Republic of Korea’s Yangju Police Station said they are investigating a 55-year-old man for murdering his 30-year-old Vietnamese wife at his home at 5:30am on November 16. According to them, the man, who was apprehended at 1pm on November 17, put her body in the trunk of his car and dumped it in his hometown of Wanju, North Jeolla province. He reportedly admitted to his crime. The two are said to have married in Vietnam in 2017 and moved to the RoK three months ago, and have no children. The police launched the probe after the victim’s Vietnamese friend filed a missing report. They are conducting an autopsy and expanding the investigation. According to the RoK government, international marriages there annually rose by 8.9 percent last year./. VNA … [Read more...] about Police: Korean murderer of his Vietnamese wife arrested