AirAsia undergoes restructuring to regain momentum
Malaysian budget carrier AirAsia is undergoing a major restructuring led by its parent company Capital A as it starts to regain momentum following the pandemic.
The restructuring of the regional airline, announced in April, would consolidate its short-haul and long-haul brands, seeking more efficient operations as the group faces growing competition.
Air Asia's planes. Photo courtesy of Reuters.
According to the plan, Capital A would divest 100% of its shares in its two short-haul subsidiaries to a new company, AirAsia Group, for $1.4 billion. Capital A would receive AirAsia Group shares, retaining direct ownership of 18.39% in the new company.
The new company would also hold shares in AirAsia X, AirAsia's sister company that offers long-haul services, and succeed AirAsia X's listing status on the local stock exchange.
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Dinh Tien Dung leaves Vietnam Party Politburo
Dinh Tien Dung, most recently Secretary of the Hanoi Party Committee, has stepped down from his current position as a member of the Politburo, the country’s most powerful decision-making body, at his request.
Politics - Fri, June 21, 2024 | 10:42 pm GMT+7
Vietnam stock market still frontier market in MSCI list
The Vietnamese stock market is still classified as a frontier one, not yet an emerging market, in the June review of MSCI Inc., a leading provider of critical decision support tools and services for the global investment community.
Finance - Fri, June 21, 2024 | 10:02 pm GMT+7
Michelin adds 13 newcomers in Vietnam’s 2 biggest metropolises
Michelin has announced the addition of 13 new eateries in Hanoi and Ho Chi Minh City, the two largest metropolises in the country, to its updated Bib Gourmand list.
Travel - Fri, June 21, 2024 | 8:48 pm GMT+7
Skill mismatch an issue as Vietnam prepares surge in semiconductor, IC manpower
Vietnam has to resolve the issue of skill mismatches as it prepares a significant workforce increase for semiconductor, integrated circuit (IC) and quantum technology sectors, experts say.
Industries - Fri, June 21, 2024 | 6:08 pm GMT+7
US senior diplomat arrives in Vietnam following Putin’s visit
U.S. Assistant Secretary of State for East Asian and Pacific Affairs Daniel J. Kritenbrink will be in Hanoi on Friday and Saturday, one day after Russian President Vladimir Putin wrapped up a two-day Vietnam visit.
Politics - Fri, June 21, 2024 | 4:31 pm GMT+7
Industrial real estate in northern, southern Vietnam cater to different investor needs
While industrial real estate is set to grow throughout the country in the coming years, there are marked differences in how different regions cater to investor needs, industry insiders say.
Industrial real estate - Fri, June 21, 2024 | 3:59 pm GMT+7
Vietnam fruit and vegetables exports surge 28% to top $3 bln in H1
Durian, dragon fruit, banana and longan led the fray as Vietnam’s fruit and vegetable exports surged 28% year-on-year to reach $3.4 billion in the first half this year (H1/2024).
Economy - Fri, June 21, 2024 | 3:23 pm GMT+7
Software and digital services become mainstays of business success: Bosch exec
By the end of the decade, Bosch wants to generate sales running into the billions from software. For quite some time now, Bosch has been a software company, said Dr. Stefan Hartung, chairman of the Bosch board of management, at the Bosch Tech Day 2024 in Renningen, Germany on Thursday.
Companies - Fri, June 21, 2024 | 1:53 pm GMT+7
Vietnam remains on US Treasury Department 'monitoring list'
Vietnam, as a major trading partner of the U.S., remains on the U.S. Treasury Department’s “monitoring list,” the department affirmed in its June 2024 report to Congress.
Economy - Fri, June 21, 2024 | 11:29 am GMT+7
Vietnam can become partner in US friendshoring strategy: Treasury Secretary Yellen
The United States sees Vietnam as a country that could be part of its friendshoring strategy to diversify supply, said U.S. Treasury Secretary Janet Yellen while addressing a Thursday press conference in Atlanta, Georgia.
Economy - Fri, June 21, 2024 | 10:35 am GMT+7
Two listed cassava starch exporters report contrasting business performances
The business performances of the only two listed cassava starch exporters, Quang Ngai Agricultural Products and Foodstuff JSC (APFCO) and Yen Bai Joint-Stock Forest Agricultural Products and Foodstuff Company, have moved in opposite directions.
Companies - Fri, June 21, 2024 | 10:20 am GMT+7
Realty giant Phat Dat nets $52.7 mln from public offering for project development
Phat Dat Real Estate Development Corp, one of the leading property developers in Vietnam, has successfully raised VND1.34 trillion ($52.72 million) through a public offering to finance various projects.
Companies - Fri, June 21, 2024 | 9:35 am GMT+7
High-speed HCMC-Long Thanh boat link can ‘transform’ local lifestyle, boost tourism: RMIT experts
Integrating high-speed boats into HCMC’s transportation framework will have impacts extending beyond convenience, significantly boosting the local economy, particularly the tourism and retail sectors, say experts with RMIT Vietnam.
Opinion - Fri, June 21, 2024 | 8:08 am GMT+7
Vietnam, Russia issue joint statement on deepening comprehensive strategic partnership
Vietnam and Russia have issued a Joint Statement on deepening their comprehensive strategic partnership, building on the achievements of the three-decade implementation of their Treaty on Principles of Friendly Relations.
Politics - Fri, June 21, 2024 | 6:55 am GMT+7
Most shoppers influenced to buy items not on groceries shopping list: expert
Many Vietnamese shoppers are frequenting convenience locations or channels offering best prices and promotions to make impulse purchases, says Shadab Ansari, consumer and marketing insights director with market research firm NIQ.
Economy - Thu, June 20, 2024 | 10:53 pm GMT+7
Dak Lak churns out top-quality cocoa products
Experts say that Dak Lak has the best cocoa in the country because of its ideal soil and climatic conditions for growing cacao.
Companies - Thu, June 20, 2024 | 10:45 pm GMT+7
