Customers continuously complain that their accounts at MSB have 'evaporated'

The incident of an account at MSB Bank "evaporating" more than 58 billion VND has not yet ended, but another customer has reported that 27.7 billion VND has also been withdrawn. (See details)

Notably, the customer who reported losing 58.65 billion VND opened at MSB provided a confirmation of information/account balance showing signs of unusual interest payments.

Hanoi City Police have prosecuted and temporarily detained Bui Thi Hoai Anh - Director of MSB Bank Thanh Xuan Branch (Hanoi). According to initial information, Ms. Hoai Anh has committed fraud and appropriated assets of 8 victims who deposited money at MSB, with a total amount of 338 billion VND.

The question that arises in this case is how the interests of depositors, who are identified as victims of the incident, will be protected. Will MSB Bank or the recently arrested branch director Bui Thi Hoai Anh have to compensate the depositors for their losses? (See details)

Shark Thuy arrested: Famous with Apax, drowning in debt

The Ministry of Public Security's investigation agency has just issued an arrest warrant for Mr. Nguyen Ngoc Thuy (Shark Thuy), legal representative of Egroup Education Corporation and Egame Investment and Distribution Corporation, to investigate the act of fraud and property appropriation.

Shark Thuy became famous after participating in the first 3 seasons of Shark Tank Vietnam and owning the largest chain of English centers in the country, Apax English. But in recent years, the 'shark' has been drowning in debt, delayed bonds, unpaid teacher salaries and student tuition fees. (See details)

After shaking hands with LPBank, Mr. Duc made a surprising decision.

Mr. Doan Nguyen Duc's company (Bau Duc) officially changed its brand identity after many years. However, what many people are interested in is that the logo color of Hoang Anh Gia Lai is quite similar to LPBank.

This change of Hoang Anh Gia Lai takes place in the context of the enterprise having just signed a comprehensive cooperation agreement with LPBank. Mr. Thuy is currently the Chairman of the Board of Directors of this bank. (See details)

Hoang Anh Gia Lai changes its new identity. Photo: HAGL

In trouble with the law, tycoon Nguyen Cao Tri still owns a series of billion-dollar enterprises

Despite being in trouble with the law, tycoon Nguyen Cao Tri is still holding leadership positions in a series of businesses, including some with charter capital of thousands of billions of dong.

Mr. Tri is still holding the position of General Director of Capella Group Corporation (Capella Holdings) with an ecosystem of many businesses operating in fields from real estate, F&B business to education.

In addition, he is also the legal representative of a series of enterprises such as: Saigon Dai Ninh Tourism Investment Joint Stock Company (Saigon Dai Ninh Company); Binh Duong University of Economics and Technology; Van Lang Education Investment and Management Group Joint Stock Company; Van Lang Healthcare Company Limited... (See details)

The exhausted projects of the owner of Cocobay Da Nang

Since the end of the last century, Thanh Do Investment Development and Construction JSC of Mr. Nguyen Duc Thanh has been famous for investing in building Ho Tay water park, Ho Tay tram line and later Naman Retreat Da Nang, Cocobay Da Nang...

However, right after announcing the restart of the infamous Cocobay Da Nang project, Thanh Do Company was involved in a scandal. The investor's announcement of unilaterally terminating the contract with the old customers of this project made many people indignant. Many people lost faith when Thanh Do collapsed, unable to pay the 12% profit as committed. (See details)

VNDirect Securities expected to resume trading from April 1

VNDirect Securities' trading system is expected to resume operations from April 1 after being restored on the afternoon of March 27 and reviewing and evaluating the system to ensure security.

The securities company chaired by Ms. Pham Minh Huong was attacked on the morning of March 24 and has not yet resumed operations. (See details)

14 most important banks are closely monitored and supervised

The State Bank of Vietnam (SBV) has just issued Decision 538/QD-NHNN approving the group of systemically important credit institutions in 2024. Accordingly, 14 banks belong to the Group of Systemically Important Credit Institutions in 2024.

The approval of the group of important credit institutions aims to require the banking inspection and supervision agencies, the State Bank branches in provinces and centrally run cities to closely monitor and supervise, and promptly warn of risks in the operations of these credit institutions to prevent significant risks and systemic risks. (See details)

During the peak of the hot season, the Ministry of Industry and Trade pledges that there will be no power shortage.

Regarding electricity supply during the peak months of the dry season (May, June, July) and concerns about power shortages during extremely hot days, at the regular press conference of the Ministry of Industry and Trade on the afternoon of March 29, Deputy Minister Nguyen Sinh Nhat Tan said that the Prime Minister is very concerned and has many instructions to ensure electricity supply in 2024.

Deputy Minister of Industry and Trade affirmed that there will be no power shortage in the dry season of 2024. (See details)

Also at this meeting, the Ministry answered questions related to gasoline prices and the Petroleum Stabilization Fund.

Regarding the opinions on whether or not to abolish the Petroleum Price Stabilization Fund, Deputy Minister Nguyen Sinh Nhat Tan said that the ministry will continue to collect opinions to make appropriate proposals. Recently, the ministry submitted to the Government a draft of a new decree on petroleum, replacing previous decrees; in which, it proposed to let businesses decide on their own petroleum prices. (See details)

GDP in the first quarter increased by 5.66%, the highest in the past 4 years

According to the announcement of the General Statistics Office, the gross domestic product (GDP) in the first quarter of 2024 is estimated to increase by 5.66% over the same period last year, higher than the growth rate of the first quarter of the years 2020-2023.

The consumer price index (CPI) in the first three months of the year increased by 3.77% compared to the same period in 2023. The reason, according to the national statistics agency, is that domestic rice prices increased following export rice prices and consumer demand; household electricity prices increased by 9.38%, contributing to an overall CPI increase of 0.31 percentage points... (See details)

Electricity prices are increased and decreased every 3 months.

The latest decision allows shortening the minimum time between two electricity price adjustments from 6 months to 3 months. However, this does not mean that electricity prices will be adjusted every 3 months, but also depends on the assessment of the impact on the macro economy as well as on whether the updated calculation results of electricity prices are sufficient to be considered for adjustment according to regulations.

The above information is stated in the Decision regulating the mechanism for adjusting the average retail electricity price replacing Decision 24/2017/QD-TTg approved by the Prime Minister on March 26. (See details)

Banks must notify customers if the card does not operate or if the debt is overdue for a long time.

To enhance security and safety in bank card operations and ensure customer rights in the process of issuing and using bank cards, the State Bank of Vietnam has just issued Official Dispatch 2235/NHNN-TT on implementing measures to ensure security and safety in bank card operations.

The State Bank of Vietnam requires that if any unusual problems are discovered in the use of a customer's card, the bank must proactively notify the cardholder. (See details)