Regarding exports, according to the Vietnam Food Association, 5% broken rice was offered for sale at 587 USD/ton on May 10, up from 577 – 580 USD/ton a week ago. A trader in Ho Chi Minh City said: Prices increased due to limited domestic supply when the main harvest in the Mekong Delta ended. However, trading activity is weak due to high transportation costs and high export prices.
– Banks aggressively set aside risk provisions
Although the debt restructuring period according to Circular No. 02/2023/TT-NHNN has been extended until the end of 2024, many banks are still worried about bad debt and aggressively set aside risk provisions.
Although the debt restructuring time was extended, banks were still worried about bad debts, so they proactively increased provisions. In the first quarter of 2024, ABBank reduced operating costs by 6%, to only 509 billion VND, but due to increased risk provisioning of 177 billion VND, an increase of more than 52% compared to the same period in 2023, so Pre-tax profit was just over 192 billion VND, down 69% over the same period.
VietBank’s operating costs in the first quarter of this year only increased by 7%, recording nearly 350 billion VND, but to create a backup buffer and improve asset quality in the future, this bank deducted more than 90 billion VND. to reserve for credit risks, 4.3 times higher than the same period in 2023. Therefore, VietBank only has pre-tax profit of more than 73 billion VND, down 63% over the same period.
Similarly, Eximbank increased risk provision costs to 282 billion VND in the first quarter of 2024, triple the same period, and only had pre-tax profit of more than 661 billion VND, down 24%. VietinBank spent more than 8,049 billion VND on credit risk provisions in the first quarter of the year, an increase of 20% over the same period, so pre-tax profit only reached more than 6,210 billion VND, a slight increase of 4% over the same period. ACB set up a credit risk provision of 512 billion VND in the first quarter of this year, twice as much as the same period, and pre-tax profit of more than 4,892 billion VND, down 5% over the same period.
Meanwhile, some banks increased risk provisions, but pre-tax profits still increased quite high. It can be mentioned that Techcombank spent nearly 1,211 billion VND for risk provisions in the first quarter of 2024, 2.3 times higher than the same period, but still had pre-tax profit of nearly 7,802 billion VND, up 39% over the same period; HDBank increased its credit risk provision costs by 33% when deducting up to 1,270 billion VND, but still reported a pre-tax profit of nearly 4,028 billion VND, an increase of nearly 47% over the same period.
– Famous chef Gordon Ramsay’s restaurant ’empire’ suffered heavy losses
According to The Guardian, Gordon Ramsay’s restaurant “empire” lost 3.4 million pounds ($4.2 million) in 2023, an increase of 3 times compared to the previous year. The celebrity chef said businesses are “fighting to survive” due to rising rents and food costs.
According to The Guardian, sales at celebrity chef Gordon Ramsay’s dining establishments, from Michelin-starred Restaurant Gordon Ramsay to Street Burger, rose 21% to £95.6m in the financial year. until August 27, 2023.
The restaurant chain also hired an additional 290 employees after a difficult time during the pandemic shutdown.
However, pre-tax losses widened to 3.4 million pounds ($4.2 million) from 1.05 million pounds the previous year, following a one-off expense of 4.9 million pounds.
Much of that relates to pre-opening costs for new restaurants, including Lucky Cat in Manchester, Street Kitchen Banh Mi at Battersea Power Station and Street Pizza in Edinburgh. Mr Ramsay also bought Shoreditch restaurant Pizza East.
While the losses have worsened, they still mark a turnaround after the pandemic brought chef Ramsay’s business to a halt and forced him to cut nearly 300 jobs amid a £12 million loss. Older brother.
Mr Gordan Ramsay said: “2023 is a really difficult year but also an exciting year and in difficult times I am amazed at how strong and vibrant our industry is. It’s challenging out there and businesses are struggling to stay afloat, costs, rent and food are rising, and strikes are taking place. It’s a battle.”
– VNPT was voted the most favorite network operator at Vietnam Game Awards 2024
With an overwhelming number of votes from the gaming community, VNPT has just been honored as the Most Popular Network at Vietnam Game Awards 2024 – Honor ceremony for organizations, individuals, and products with achievements and contributions. Outstanding contribution to the Vietnamese gaming industry, part of the Vietnam GameVerser 2024 event series.
This is the second year Vietnam GameVerse has been organized on a large scale, attracting dozens of businesses and organizations operating in the field and tens of thousands of game enthusiasts across the country to gather.
At this year’s event, VNPT was honored as the Most Popular Network. The award is in The Golden Gear category for game-related products and services including votes: Excellent gaming laptop, excellent gaming phone, excellent gaming monitor, favorite network operator. most favorite, most favorite payment channel….
Sharing about the award, VNPT representative said: “To be honored as the most popular network operator at the event, VNPT feels very proud. This is the biggest recognition that the gaming community in Vietnam has for the efforts that VNPT has been striving for in recent times. We sincerely thank you for this very meaningful support and companionship. In the coming time, VNPT will continue to make more efforts to provide high quality services and smooth transmission lines to better meet the needs of gamers and its customers. VNPT will always be the best companion for Vietnamese businesses, organizations and gamers on the journey to conquer new heights.”