VN-Index, which tracks 241 companies and four mutual funds, dropped 1.15 points, or 0.22 percent, to finish at 511.67. Of the index, 109 shares gained, 90 fell, and 46 remained unchanged. More than 53.1 million shares changed hands at VND1.49 trillion. Though it has approached the 515 mark for seven trading sessions, the benchmark has not yet surpassed it. Demand to buy, especially blue-chip stocks, must increase for the index to advance further. Vinalink International Freight Forwarders (VNL), which gave up 4.74 percent, was the biggest loser on the city bourse. Dry Cell and Storage Battery Joint Stock Company (PAC) eroded 4.51 percent to VND63,500. Meanwhile, seafood producer Nam Viet Corporation (ANV) and General Materials Biochemistry Fertilizer Joint Stock Company (HSI) both closed up 5 percent to VND21,000 and VND16,800 respectively. Mining company Hoa An Joint Stock Company (DHA), Vien Dong Investment Development Trading Corporation (VID), and Ha Tien Transport Joint Stock Company (HTV) all added 4.97 percent to VND48,600, VND16,900 and VND19,000 respectively. PetroVietNam Transportation Corporation (PVT) continued to top the list of most active shares by volume with 2.96 million changing hands. Petrovietnam General Services Js Corporation (PET) was next with 2.51 million shares, followed by Vien Dong Investment Development Trading Corporation (VID) with 1.95 million shares. In contrast, the Hanoi’s HNX-Index rose 0.12 points, or 0.07 percent, to 162.98. Around 34.6 million shares, worth VND1.16 trillion, were traded. The UPCoM-Index slid 0.32 points to 46.41 as of 11:25 am local time. Trading volume was at 282,240 shares, worth nearly VND5 billion. Internationally, the Dow Jones Industrial Average index and Japan’s Nikkei 225 index both rose 0.05 percent. Meanwhile, the Nasdaq Composite index slid 0.34 percent and the S&P 500 index 0.3 percent. FTSE 100 index declined 1.31 percent. France’s CAC 40 index gave up 1.72 percent. China’s Shanghai Composite index lost 0.26 percent.Movement of VN-Index on June 24. (Photo: Vietstock.vn)
Stocks lose ground under selling pressure
10:28
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Qatar Airways expansion: flights to Hanoi, daily service for HCMC
10:26
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Qatar Airways has announced a massive expansion plan for its operations in Vietnam, saying it will add Hanoi to its network and make the Ho Chi Minh City route a daily service. A Qatar Airways statement, seen in HCM City Wednesday, said from November 1 this year, Hanoi will become the airline’s second network point in the country, with four weekly flights to Doha operating via Bangkok. The flights will be on Mondays, Tuesdays, Fridays and Saturdays. The carrier’s HCM City route will on the same day become a daily service with three extra flights a week heading to Doha, also via Bangkok, adding to the four non-stop direct flights in operation since March 2007. Therefore, the new daily service means four direct flights and three via Bangkok. The expansion will boost Qatar Airways’ services to 11 flights a week from Vietnam to Doha and further open up the airline’s global network to traveling Vietnamese, with the airline offering onward connections from Doha to destinations throughout the Middle East, Africa, Europe, and North and South America. The new Vietnam flights are part of a global expansion program that will see Qatar Airways add six new routes over a four month period from October 2010. The announcement said daily flights from Doha to Thailand’s Phuket will start on October 11. The new flights will operate via Kuala Lumpur. Qatar Airways will also launch flights to Bucharest, Nice, Brussels and Budapest, bringing the airline’s route network to over 95 destinations by January 2011. Qatar Airways senior vice president, Commercial East Asia and Southwest Pacific, Marwan Koleilat said that Vietnam was a key growth market for the airline. “Qatar Airways is delighted to be expanding in Vietnam with the country forging ahead and experiencing rapid economic development,” he said in the announcement. “We have a serious commitment to the Vietnamese people not only to bring tourists to Vietnam, who will contribute to the economy, but to also provide the traveling public access a growing global network and world class airline services.” Qatar Airways says by 2013, it plans to serve 120 key business and leisure destinations worldwide with a modern fleet of 120 aircraft. At present the airline’s fleet stands at 84 aircraft, flying to 90 destinations across Europe, Middle East, Africa, Asia Pacific and North America.This file photo shows a Qatar Airways flight attendant stand at the Qatar Airways pavilion in an international travel expo in Ho Chi Minh City (Photo: Tuong Thuy)
“The new route to Hanoi and the boosting of our Ho Chi Minh City flights to daily services demonstrate the confidence that Qatar Airways has in Vietnam.”
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Hanoi to build five gates worth $2.6mil
10:22
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Hanoi authorities have decided to spend 50 billion dong (over US$2.63 million) to build five giant gates at its five gateways. The second gate will be also built on 5000sq.m in Thanh Xuan commune, Soc Son District, featuring the barrel of Dong Son bronze drum. Hanoi’s vice chairman Phi Thai Binh on June 22 named five contractors to build the gates to celebrate the city’s upcoming 1000th birthday. Vincom JS Company will build the first gate on National Highway 1A, Hanoi Housing Investment and Development Company will construct the second gate on North Thang Long – Noi Bai highway, Vinaconex has been tapped to build the third gate on Lang – Hoa Lac highway, Urban Development and Investment Corporation will build the gate on National Highway 5 that connects Hanoi to Hai Phong, and Him Lam JS company won the rights to craft the fifth gate on Hanoi-Lang Son highway. Him Lam JS Company and Vincom JS Company are willing to build the two gates as gifts for the city’s great anniversary, while the three remaining firms plan to cover 50 percent of the funding for the works. The total investment for these gates is estimated at 50 billion dong. Also on June 22, the Steering Board for Thang Long-Hanoi’s 1000th Anniversary presented designs for the five gates. The first gate features ten chim lac (Vietnamese legendary birds) and will be built on 5000sq.m in Dai Xuyen commune, Phu Xuyen district. The second gate will be also built on 5000sq.m in Thanh Xuan commune, Soc Son District, featuring the barrel of Dong Son bronze drum. The third gate will be built on 4000sq.m of land in Hoai Duc district, featuring a bronze drum rising from the ground and water. The fourth one will be located on 1200sq.m in Duong Xa commune, Gia Lam district, featuring a wood stake which was used to kill invaders in Bach Dang River and a sail. The last gate will be located on 2800sq.m in Ninh Hiep commune, Gia Lam district, featuring eight dragons to symbolize eight Ly kings. Source:vietnamnet
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VinaPhone, MobiFone may withdraw VND 1.5tril of 3G deposit
10:21
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If VinaPhone and MobiFone overcome the ongoing test of the Ministry of Information and Communications (MoIC) for 3G service quality, they can withdraw 1.5 trillion dong ($789.5 million) in deposit money. Pham Hong Hai, chief of the MoIC’s Telecommunications Department, said that the ministry’s inspectors have finalized their inspection of 3G service quality offered by VinaPhone and MobiFone, two subsidiaries of the Vietnam Post and Telecommunications Group (VNPT). The result will be announced very soon. If the two mobile operators meet MoIC’s standards, they will be allowed to withdraw 50 percent of their deposits for the 3G networks, totaling 1.5 trillion dong. After VinaPhone and MobiFone, the MoIC will test the 3G network of Viettel and then EVN Telecom-Hanoi Telecom. In case mobile operators don’t meet their 3G license commitments, they will be fined. According to their commitments, in the next three years, MobiFone, VinaPhone, Viettel and EVN Telecom-Hanoi Telecom will invest more than 33 trillion dong ($1.73 billion) in their 3G networks, which have a total of 30,000 base transceiver stations (BTS). They have deposited 8.1 trillion dong ($426.3 million) to the MoIC. They can withdraw the deposit after three years if they don’t break their commitment. The current revenue from 3G service is said to be low, but experts believe that mobile operators can regain their investment after eight years. With 15-year 3G licenses, they can earn a lot of profit, experts said. Ha Phuong - vietnamnet
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Vietnamese bank CEO earns one million dollars a year?
10:16
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Well-informed circles these days are whispering in each others’ ears that a bank chief executive officer (CEO) has been asked to work for another bank with the salary of 1.2 million dollar a year. Rumor has it that there are two or three CEOs who now can earn some one million dollar a year. While talking with VnExpress, a former bank CEO revealed that CEO may not get one million dollar a year in salary, but theCEO’s total income may reach one million dollars. “In big joint stock banks, where the CEO is considered the ‘soul’ of the banks, the total income of the CEO could reach one million dollar per annum, which I don’t think a surprise at all,” he said. The former CEO said the real owners of banks always fear that worries about CEOs’ incomes would affect the business results. Therefore, they always offer high incomes to reassure CEOs. However, CEOs may not get high salaries, while they get extra sums of money under different modes. Top joint stock banks all have high profit of 2,000 billion dong, or $100 million per annum. Meanwhile, the total profit of the whole banking system in 2009 was 29 trillion dong, an increase of 55 percent over the previous year. Among the bank CEOs who have been reportedly invited to work for other banks with the salary of 1.2 million dollar per annum, there are two CEOs of big banks. One of the two is now in A member of the board of directors of the bank where the CEO is working has affirmed that the CEO will not leave for another bank and is expected to work another five-year term. The other general director, who is called “the special person” at the bank where he is working, is now in the A general director of an investment fund in “The banks, which invite CEO to work for them, have to offer very good working conditions, while high salary is not the most important thing,” he said Commenting about the rumor regarding the one-million-dollar invitation, a deputy chairman of a bank based in HCM City said that even the big banks, which need to have very excellent managers, would not offer the salary which is higher than $300,000 per annum. Meanwhile, the general director of a bank in The general director said that in general, a high salary is not the only thing CEOs consider when making decision. They will have to consider other factors when deciding whether to work for a bank, including their power and the bank’s operation mechanism. Source: VnExpress
According to VnExpress newspaper, a deputy chairman of a Hanoi-based joint stock bank in
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Public lender to provide $280 mln for power projects
10:14
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Vietnam Development Bank, the state-owned lender that provides capital for public projects, on Thursday signed an agreement to lend VND5.3 trillion (US$280 million) to several major power projects. The bank said the loan will help Electricity of Vietnam, also known as EVN, speed up its power projects, adding another 2,000 megawatts to the country’s total capacity, the Vietnam Economic Times reported. EVN General Director Pham Le Thanh said the loan will be used mostly for site clearance and land compensation. Parts of the funding will be earmarked for installing machinery at some power plant projects including Son La, Vietnam’s largest hydro power project to date. The agreement takes VDB's total lending for power projects to $7.2 trillion. Power supply has been 10-15 million kilowatt-hours short of daily demand this year and power cuts are prevalent nationwide. EVN had said it would invest a record VND58.5 trillion ($3.16 billion) in power generation and transmission projects this year, when demand for electricity is forecast to grow 14 percent.
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England, US squeeze into second round
06:59
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England and Germany squeezed into the second round of the World Cup on Wednesday together with the United States but Australia went out despite a victory that paradoxically saved Africa's chances. England shook off a traumatic start to the World Cup on Wednesday to beat tiny Slovenia while the United States booked their place with a last-gasp goal against Algeria. With Group C reaching a dramatic finale in simultaneous games, Landon Donovan struck in the second minute of injury time to spark wild joy in Pretoria among American fans and players alike. The 1-0 win gave them first place in the group. "I'm just shocked and so proud of our guys, unbelievable," ecstatic midfielder Donovan said. "We're alive, baby!" The result put Algeria out -- another disappointment for Africans whose teams are flopping at the continent's first World Cup. Donovan's late goal was also shattering for Slovenia, the tournament's smallest nation with a population of just over two million people, who would otherwise have gone through. With fellow European power France's ignominious first-round exit an example they did not want to follow, England looked brighter against Slovenia than in the two draws from their opening matches that touched off a mini-crisis in the camp. Though England created more chances, they never looked as slick as other big name teams like Brazil or Argentina have done in the tournament. Capello, however, said the result should lift the pressure on his players going forward. "The mind now is free, without fear," he said, a smile replacing the permanent scowl of previous days. England's relieved players hugged on the pitch at the end in a public show of unity after reports of dissent in the camp. Later on Wednesday, another stuttering European soccer power, Germany, also fight to stay in the tournament against Ghana's Black Stars who appear Africa's best remaining hope. At the same time, Australia play against Serbia in Group D's other game. The Socceroos, bottom on one point after two games, need a big win to have any chance of qualifying. The first World Cup in Africa has so far been a struggle for Europe with former champions France heading home after a demoralizing player revolt, over the explosion of striker Nicolas Anelka, that has shocked their nation. Hosts South Africa beat France on Tuesday night to leave them bottom of their group with just one point. "In 11 days of competition, Raymond Domenech's gang has succeeded in becoming the laughing stock of the entire world, a mix of arrogance, incompetence, a lack of talent and professionalism," said France Soir newspaper. Sarkozy angry at French “disaster” Sarkozy urged a review of French soccer and said no player should receive bonuses after their dreadful tournament. "The head of state asked the ministers to make sure that those responsible draw the consequences for this disaster," the president's office said in a statement. South Africa, too, are out, but at least held their heads high, garnering four points, losing out only on goal difference, and ending with that surprise win over the French. Bafana Bafana's elimination has quietened the vuvuzela trumpets a little but the nation remains proud of the achievements of its underdog team and even more of its success in organizing a successful tournament, despite years of gloomy predictions from critics that it would be a disaster. "We might have lost the game but we're still winning because we're hosting the World Cup," said trainee pilot Katiya Mongezi, pausing for breath from blowing his vuvuzela during celebrations on Tuesday night in Johannesburg's ritzy Sandton district. Argentina have led Latin American dominance of the World Cup so far, Diego Maradona's team brimming with confidence after a perfect first round record of three wins. The artistry of Argentina, Brazil and even smaller Latin American teams too has been in sharp contrast to the relatively weak African and European performances. Chile's players, who have won two games out of two, say a ripped and muddy flag rescued from the debris of February's massive earthquake has helped inspire them. "We're trying to bring a little happiness to all those people who suffered," said centre back Waldo Ponce. Source:tuoi tre
England smile at last
Striker Jermain Defoe, brought in as part of a team shakeup by manager Fabio Capello, connected with a James Milner cross in the 23rd minute to notch a goal and give some relief to the hordes of English supporters in Port Elizabeth.
So serious was Les Bleus' implosion that President Nicolas Sarkozy called a government meeting on Wednesday to analyze the case and was also to meet senior player Thierry Henry.
They have hung it on a flagpole by their training pitch.
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Vietnam 1st half trade gap triples
06:58
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Vietnam's first-half trade deficit is expected to more than triple from the same period last year to $6.7 billion, the General Statistics Office has said. Imports would be an estimated $38.8 billion and exports, $32.1 billion, it said. The corresponding figures for last year were 29.7 billion and 27.6 billion. Vietnam’s main export items in June are textile and garment, footwear, crude oil, and seafood, and the main imports are fabric, steel, gasoline, and plastic. Economist Le Dang Doanh said exports have been hit by a number of factors, including the depreciation of the euro, the increased anti-dumping tariffs, and product-origin requirements demanded by several countries. Recent power outages have also badly affected export companies, he said. Source:tuoi tre
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