Vietnam’s biggest property developer, Vinhomes, targets a 24 percent increase in post-tax profit this year to VND35 trillion ($1.52 billion). Major housing projects that would fetch revenues include Vinhomes Ocean Park and Vinhomes Smart City in Hanoi and Vinhomes Grand Park in Ho Chi Minh City, the company said in a statement. The subsidiary of conglomerate Vingroup also plans to develop industrial real estate with the first projects to be launched in the northern city of Hai Phong where another Vingroup subsidiary, automaker VinFast, is based. “Industrial real estate is set to be a pillar, contributing large and steady revenues…
Author: Miley Selena
Da Nang has suspended cars and motorbikes from transporting passengers and delivery services starting Monday amid rising coronavirus concerns. Le Quang Nam, deputy chairman of the municipal People’s Committee, said the suspension would be applied for taxi services and other contracted vehicles with under nine seats, including ride-hailing services. Motorbikes are also suspended from transporting passengers, and ride-hailing services have to stop delivery services as well. All drivers of taxis, contracted vehicles and ride-hailing services would need to medically declare themselves and be tested for Covid-19, he added. The move followed several coronavirus outbreaks recorded in the central city. One…
Vietnam confirmed its 37th Covid-19 death Monday as a 34-year-old man, who got infected with the new coronavirus when staying at the National Hospital for Tropical Diseases in Hanoi. The Ministry of Health confirmed that he has died of severe pneumonia due to Covid-19, brain injury, and meningitis. “Patient 3055” got infected with the new coronavirus when staying at the National Hospital for Tropical Diseases in Hanoi. Residing in northern Bac Ninh Province, he was sent to the hospital on April 24 following a traffic accident that caused him brain injury. He was announced a Covid-19 patient on May 6…
Yesterday, Vietnam received second shipment of 1,682,400 COVID-19 vaccine doses through COVAX Facility. The additional vaccines will help the Ministry of Health to expand coverage and reach more people from the priority groups. Visit Vietnam Insider’s homepage for more stories. This delivery of the vaccines comes in addition to a first batch delivered in April 2021 and is part of the 4.1 million vaccine doses committed to Viet Nam, free of charge, by the COVAX Facility, the international partnership created to ensure global equitable access to COVID-19 vaccines. The COVAX Facility is co-led by the Coalition for Epidemic Preparedness and…
There were around 68,500 foreign workers in Vietnam in 2020. With new policy of Vietnam, companies worried about hiring foreign experts under new academic strictures, according to VNExpress. Visit Vietnam Insider’s homepage for more stories. Companies are concerned that recruiting foreign experts will become difficult under a decree requiring foreign executives to have academic qualifications related to their field of work. South Korean electronics giant Samsung, one of the largest foreign direct investors in Vietnam, is worried that the new decree will pose challenges for its recruitment process. “In reality, there are many people whose academic majors are not related…
In this week’s realty hot spot series, we look at Kalyan situated in the outskirts of Mumbai. This is an affordable residential area boasting of a good mix of developed and developing sub-localities along with good retail and social infrastructure. The property price range per sq. ft. in this locality is Rs 2,600-6,200. A 1-BHK, which is the property type that enjoys the maximum supply here, and it costs about Rs 34 lakh on average and comprises 630 sq. ft area. Here are other key features of Kalyan that make it a real estate hot spot. Locality Snapshot Emerging affordable…
The scope and attractiveness of alternative investments is increasing. Here’s a weekly tracker of returns from such investments. But don’t compare these with returns from traditional investments since the proportion and purpose of alternative investments is vastly different. Gold (995) (Rs)Gold jumped by 2% due to increased US inflation. The decade high inflation is pushing up the US yield also and this may put pressure on gold later. Silver (Rs)Being a more volatile bullion, silver ended the week up by 3%. ($/troy ounce)Platinum was down by 1% due to economic concerns of interest rates moving up. This could be seen…
1. Reduced income post retirement leads to spending constraints during the golden years. 2. With life expectancy increasing, longevity of life is a real issue as it results in outliving the retirement assets. 3. Any unexpected illness can result in unplanned health expenses and throw off the retirement plan. 4. Inflation risk results in an increased cost of living and a reducing retirement kitty. 5. Providing financial assistance to family for unforeseen needs or emergencies can impact retirement funds. (Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi…
Vibha is a banker and likes to invest in direct equity shares. She believes she has a knack for picking the right stock at the right time. But her recent analysis of her portfolio showed up that she’s had some hits and misses. She might need to work on her exit strategy as she fails to book profits on many of her stocks. She does the research while picking the stock and has mastered the approach on how to enter a stock, but fails sometimes when it comes to exiting. She has realised that as an avid equity investor looking…
By Sudhir Kaushik of Taxspanner.com Chennai-based IT professional Pooja Iyer pays a high tax because she can’t claim exemption for some of the allowances in her pay and doesn’t claim some deductions available to her. Taxspanner estimates that Iyer can save more than Rs 40,000 in tax if her salary structure is rejigged and she invests in the NPS. Income from employer Iyer should start by asking her company to replace the LTA in her pay with tax-free perks. Due to lockdown restrictions across the country, it is unlikely that she will be able to travel and claim exemption for…