Nearly 200 people filled the gold shop, the seller wanted to 'hand over' because he was afraid of waiting for more losses

On the morning of November 14, Bao Tin Minh Chau store (Cau Giay, Hanoi) was overloaded with customers. In just a short while, nearly 200 people were waiting for their turn. Many were impatient to sell "hand over" to customers right away.

Other gold brands on Cau Giay Street are also bustling with buyers and sellers. Opposite Bao Tin Minh Chau, PNJ store has opened for sale plain round gold rings after a long period of being “sold out”.

In addition, on the “online gold market”, many people post gold for sale at a price difference of 1-2 million VND/tael compared to the listed price. Buyers also confidently announce “unlimited purchases” and receive home purchases at high prices. (See details)

Even with electricity, people still have to boil water with wood stoves and dare not watch TV.

According to the people of Ngoc Son village (Ha Son commune, Ha Trung, Thanh Hoa), for many years they have had to live in misery because of weak electricity. Since the beginning of 2024, the weak and unstable electricity has damaged many electrical appliances in the house. The washing machine can only run at midnight, there is a water heater but still has to boil water for bathing with firewood; they bought a TV but did not dare to watch it because it could easily break due to short circuit...

The electricity sales company also acknowledged this fact. Mr. Nguyen Van Xuyen - Director of Thanh Hoa Electricity Business Management Joint Stock Company (the unit that buys electricity from EVN and resells it to the people) said that in terms of capacity, the transformer station is not lacking. However, because the station is 1.3km away, the people's demand for electricity is increasing, leading to increased load and weakened power lines. (See details)

Regarding this incident, Thanh Hoa Electricity Business Management Joint Stock Company has immediately come up with a plan to install additional transformer stations. (See details)

From November 20, new regulations on deposit interest rates will apply.

Decision No. 2410 and 2411 of the Governor of the State Bank of Vietnam (SBV) will take effect from November 20, regulating deposit interest rates for US dollars and Vietnamese Dong.

Decision No. 2410 on maximum interest rates for deposits in US dollars of organizations and individuals at credit institutions and foreign bank branches as prescribed in Circular No. 46. Accordingly, the interest rate applied to deposits of organizations and individuals is 0%/year.

Decision No. 2411 on maximum interest rates for deposits in Vietnamese Dong of organizations and individuals at credit institutions and foreign bank branches as prescribed in Circular No. 48. (See details)

Businessman wants to pay compensation and take 'Say Hi Brother' out of My Dinh Stadium

According to Nhip song thi truong, Mr. Van Tran Hoan, Chairman of Hai Phong Club, said that he has just sent a petition to the Minister of Culture, Sports and Tourism regarding the Vietnamese team not being able to compete at My Dinh Stadium because of being "stuck" with organizing another event.

Mr. Hoan is known as the Chairman of Hai Phong Club (since April 2021) and is a famous person with many football fans, in the aspect of a "fiery" fan, regularly following and cheering for Hai Phong Club and Vietnamese teams both at home and abroad. (See details)

Governor: Will set up gold trading floor at the right time

During the questioning at the National Assembly on the morning of November 11, many delegates raised the issue of operating and managing gold market business activities to Governor of the State Bank of Vietnam Nguyen Thi Hong, including the content of establishing a gold trading floor.

According to the Governor, the establishment of a gold exchange has positive aspects such as transparent transactions, making buying and selling needs of people and businesses more convenient. However, to establish a gold exchange, investment in infrastructure is needed.

"The establishment of a gold exchange requires the State Bank to coordinate with ministries and branches to research and assess the impact very carefully to advise and propose to the Government at a time appropriate to the context and conditions of Vietnam," Ms. Hong analyzed. (See details)

Ministry of Industry and Trade reports on restarting nuclear power

The latest report from the Ministry of Industry and Trade has mentioned the reasons for restarting the nuclear power program in Vietnam.

The Ministry of Industry and Trade believes that nuclear power is a large source of electricity, capable of running in the background and providing stable electricity. At the same time, it is also a green and sustainable source of electricity.

Therefore, it is necessary to research and develop nuclear power in the future to ensure energy security and sustainable development. (See details)

US continues to determine that Vietnam is not manipulating currency

According to the semi-annual report on "Macroeconomic and foreign exchange policies of major trading partners with the US" recently released by the US Treasury Department, this agency has a positive assessment of Vietnam's monetary policy and continues to identify Vietnam as a country in the group of "non-currency manipulators".

Vietnam is currently one of seven economies on the monitoring list, with two criteria exceeding the threshold, including bilateral trade surplus and current account surplus. The remaining six economies on the list include: China, Japan, South Korea, Taiwan (China), Singapore and Germany. (See details)

SCB closes another series of transaction offices, narrows operations in Hanoi

Saigon Commercial Joint Stock Bank (SCB) continues to terminate the operations of a series of transaction offices. Notably, this bank is gradually reducing its presence in the Hanoi market when up to 9 transaction offices in the capital have stopped operating since the end of September until now. Previously, on September 28, this bank terminated the operations of 4 transaction offices in Hanoi.

According to statistics, from June 6, 2023 to now, SCB has stopped operating more than 130 transaction offices nationwide. (See details)

Prosecution of the case at SJC Gold and Silver Company: Gold bar monopoly earns billions of dollars, low profit

The investigation agency initiated a case at Saigon Jewelry Company with 6 defendants accused of "embezzlement of property" and "abusing position and power while performing official duties".

SJC has huge annual revenue but very low profit. In terms of market share, SJC is always the leader in revenue, especially in the gold bar segment.

In 2023, SJC recorded revenue of more than VND 28.4 trillion (equivalent to more than USD 1.1 billion) but after-tax profit only reached nearly VND 61 billion. Cost of goods sold accounted for almost all revenue, reaching nearly VND 28.2 trillion. (See details)