In the third week of Sep 2024, tropical storm Soulik hit Vietnam and caused major flooding across central region. Following are the highlights of Business News in this week: Rise of ‘streaming superstars’ in Vietnam’s e-commerce battleground; Property Tycoon Truong My Lan back in court, this time for $1.2B bond fraud; Iphone 16 and average income of Vietnamese; and the last news about Vietnam stock market.
Rise of ‘streaming superstars’ in Vietnam’s e-commerce battleground
These influential figures, which include singers, actors, beauty queens, and even doctors, are competing to drive online sales for their projects through engaging live streams. These sellers generate anywhere from hundreds of millions to billions of Vietnam Dong in revenue per session, with commissions ranging from two percent to 25 percent. The emergence of live-streamers with significant promotional budgets and strong sales abilities has altered the e-commerce landscape in Vietnam.
Tycoon Truong My Lan back in court, this time for $1.2B bond fraud
The trial of property tycoon Truong My Lan for swindling VND30 trillion ($1.2 billion) from bond investors and other alleged crimes began on Thursday 19Sep. She and her accomplices also face charges of illegally transporting $4.5 billion in cash in and out of Vietnam and laundering VND445.75 trillion they raised by issuing the bonds. In the April, the court also found her guilty of bribery and violating banking regulations. She has appealed the death sentence.
Iphone 16 and average income of Vietnamese
The iPhone 16 is expected to be launched in Vietnam on 27Sept. And today we talk about How many days does Vietnamese person need to work to afford iPhone 16 Pro? It takes 53.1 days’ wages for the average Vietnamese person to buy a 128 GB iPhone 16 Pro, according to e-commerce platform Picodi.com’s iPhone Index. This is an improvement from the 55.6 days required for the iPhone 15 Pro last year.
Market ends the week with a modest gain
Vietnam’s stock market closed Friday with a slight gain, marking its fourth consecutive session of increases, while foreign investors scaled back their net selling. The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose by 0.77 points, or 0.06 per cent, to close at 1,272.04 points. On the Hà Nội Stock Exchange (HNX), the HNX-Index also ended higher on Friday, rising by 0.23 per cent to 234.3 points.