VINACHEM

The Ministry of Finance (MoF) has proposed Việt Nam's value-added-tax (VAT) reduction should continue until at least June 2025, saying the tax cut has provided both the business community and the economy with much-needed support. 

According to the Ministry of Industry and Trade, in the first ten months of 2024, Việt Nam's trade value with the Americas region reached more than US$136.5 billion, an increase of 20.7 per cent over the same period in 2023. 

Oil prices stabilized on Wednesday as traders monitored the evolving situation in the Russia-Ukraine conflict. However, reports of a significant increase in U.S. oil stockpiles exerted downward pressure on prices. 

Oil edged higher after swinging between gains and losses as Russia’s war against Ukraine escalated while Iran agreed to stop producing uranium enriched close to the level at which it can be used in nuclear weapons. 

October alone witnessed Vietnam export 7,260 tonnes of rubber to Malaysia, valued at US$11.5 million, marking an annual rise of 861% in volume and 1,240% in value, according to the General Department of Customs. 

Russia is considering a plan to combine three of its oil giants, making for the world's second-largest largest oil producer, The Wall Street Journal reported. 

The oil market could see a major supply glut in 2025 thanks to booming production from non-OPEC states like the US and sagging demand in China, according to the International Energy Agency.