Vietnam Electricity revises up 2017 pre-tax profit to US$350 million Electricity demand in Vietnam is forecast to continue increasing at an average rate of 9% per annum, driven by rising industrialization, urbanization and affluence, according to Fitch Ratings. Vietnam Electricity (EVN), the sole distributor of electricity in the country, posted a revised pre-tax profit of VND8.14 trillion (US$349.8 million) for 2017, VND1.5 trillion (US$64.48 million) higher than the previously announced figure and up 58% year-on-year, the power company said on its website. EVN's revenue in 2017 reached VND300 trillion (US$12.89 billion), up nearly 8% year-on-year, while the company contributed VND19.66 trillion (US$844.8 million) to the state budget, down 7.3% year-on-year, according to EVN's latest report on its business performance result in the 2015 - 2017 period. Last year, the state-run company set aside VND118.23 trillion (US$5.07 billion) for development investment, down from … [Read more...] about BUSINESS IN BRIEF 14/9
Probiotics 50 billion benefits
By Annie Gasparro The Wall Street Journal Patrick McGroarty Tues., Aug. 28, 2018 Money is pouring into developing beverages that claim to do much more than quench thirst. A lot of that funding ends up going down the drain. Conglomerates and startups alike are placing bets on “enhanced” drinks that promise everything from better sleep to a more youthful complexion. While sales of such drinks are rising—up 11% in the past year to $3 billion, according to market-research firm Spins—hundreds of new ones are launched each year, and the majority peter out within a couple of years. Finding success involves the right mix of funding, taste, health claims and luck. “You have to figure out which trends will go mainstream, and that’s the risk,” said Brett Thomas, co-founder of CAVU Venture Partners, which has invested in Bai antioxidant drinks and Health-Ade kombucha. After Dr Pepper Snapple Group Inc. bought Bai in 2017 for $1.7 … [Read more...] about Dull skin? Restless sleep? There’s a drink for that
HCM City works to boost retail market Ho Chi Minh City’s total retail and service revenue in the first six months of 2018 is estimated at VND502.55 trillion (US$22.11 billion), up 11.7% over the same period last year. According to the Ho Chi Minh City Department of Industry and Trade, the city currently has 239 traditional markets, 209 super markets, 42 trade centres and 1,609 convenience stores. The domestic retail market has continued its stable development trend with last year’s revenue expanding 10.9%. The strong growth of the retail market is creating big chances for domestic production, trading and supply firms. Nguyen Anh Duc, Deputy General Director of the Saigon Co.op said that recently, the firm has partnered with Singapore’s NTUC Fair Price to launch a convenience store chain called Cheers that opens 24 hours a day to meet the demand of customers. Duc added that 50 Cheers shops are expected to be opened across the country in 2018. In the end of this year, … [Read more...] about BUSINESS IN BRIEF 18/6
Several years ago, Jordan Rubin found himself nursing an injured knee. At the time, the entrepreneur was considering his next move after leading the billion-dollar dietary supplement company Garden of Life, which he founded in 2000 while battling Crohn’s Disease. Rubin sold Garden of Life to Atrium Innovations in 2009 (it has since been acquired by Nestlé). A diet book author and motivational speaker, he was accustomed to depending on whole foods and supplements to try to fix whatever troubled his body. But this time, he struggled: Rubin couldn’t find any portable bone broth, considered the liquid gold of collagen. He could have done what most do, which is spend hours making the amino acids-rich bone broth at home. But it’s a lot of work: There’s the shopping, the chopping, then the hours slaving over a simmering cauldron of meat bones. It can take anywhere from 12 to 48 hours. His knee prevented him from long periods of standing. So instead he relied on … [Read more...] about How Did This Bone Broth Company Raise Over $100 Million?