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Posts Tagged ‘Asia’

Vietnam hosts the Youth League Asia Pacific Baseball Tournament 2011

In Uncategorized on January 8, 2011 at 4:14 am




Vietnam hosts the Youth League Asia Pacific Baseball Tournament 2011


QĐND – Saturday, January 01, 2011, 21:7 (GMT+7)

The Youth League Asia-Pacific Baseball Tournament 2011 will take place for the first time in Vietnam from January 13th to 16th to select the best teams from the Asian Pacific who will compete in the World Cup Baseball 2011 in Texas, US in August 2011.


The U10 and U12 teams of the Hanoi Baseball Club will join the tournament.


The event is organized by the General Department of Sports and Physical Training; the Vinh Phuc People’s Committee; the Vinh Phuc Department of Culture, Sports, and Tourism; and the Hanoi Baseball Club.


Source: VH


Translated by Van Hieu


Source: QDND

Vietnam to host final round of Asia U19 Women’s Football Champs

In Uncategorized on December 24, 2010 at 4:27 am




Vietnam to host final round of Asia U19 Women’s Football Champs


QĐND – Wednesday, December 22, 2010, 20:34 (GMT+7)

The Asian Football Confederation (AFC) granted Vietnam clearance to host the final round of the Asia U19 Women’s Football Championship 2011.


The championship will take place from October 6 to 16, 2011.


After successfully competing in the second qualifying round, the Vietnamese U19 team will enter the final round with five others – Japan, the Republic of Korea, the Democratic People’s Republic of Korea, China and Australia.


Vietnam will announce the match-ups in the near future.

Source: VOV


Source: QDND

Vinamilk among best under-a-billion firms, Forbes Asia says

In Uncategorized on December 16, 2010 at 10:07 am

Vietnam’s biggest dairy maker Vinamilk was named for the first time ever as one of the best small-to-midsize performers in the Asia-Pacific region in the Forbes Asia’s “Best Under A Billion” list this year.

Shoppers picks Vinamilk’s products at a HCMC-based super market (Photo: sanvatbavi.com.vn)

Vietnam Dairy Products, known as Vinamilk, which holds a one-third share of Vietnam’s US$1.5-billion dairy market, enjoyed a net profit jump of 67 percent to $90 million. Its revenues climbed by half to $389 million through the first half of 2010, Forbes reported.


The company listed on the Ho Chi Minh Stock Exchange with the coded name of VNM is expected to grow 25 percent this year.


“With revenues doubled and net profit up fourfold in the last four years, it is the most successful of the country’s privatized state-owned enterprises,” according to the September issue of Forbes Asia. In August, Vinamilk began construction on a $120 million dairy plant near Ho Chi Minh City that is expected to be the biggest in Southeast Asia.


“Vinamilk has been successful in the competition with foreign brands. It has created a very strong Vietnamese brand, a solid footing in the local market, and it has been able to tap into the rising demand for nutrition products,” Trinh Hoai Giang, chief operating official of HSC Securities, one of Vietnam’s three biggest brokerage houses, said in a report on Forbes’ website.


The annual “Best Under A Billion” list highlights 200 top-performing firms with revenues under $1 billion from nearly 13,000 publicly listed Asia-Pacific companies, based on earnings growth, sales growth, and shareholders’ return on equity.


Among 200 top-performing small-to-midsize enterprises in Asia this year are 71 Chinese, 39 Indian, 20 Korean and nine Thailand’s. “Technology firms, both hardware and software, keep making inroads into the 200, along with health-care-related entities,” Forbes said in a report on its website, adding 151 new firms appeared on this year’s list.

Source: SGGP

Asia stocks mostly down, Japan gains on GDP report

In Uncategorized on November 15, 2010 at 6:29 am

Obama kicks off Asia tour with Mumbai attacks tribute

In Uncategorized on November 6, 2010 at 7:51 am

Russia eyes more nuclear power projects in Asia: FM

In Uncategorized on October 30, 2010 at 11:40 am

HANOI, Oct 30, 2010 (AFP) – Asian nations are keen on striking nuclear power deals with Russia, Foreign Minister Sergei Lavrov said Saturday, as world powers race to secure projects in the energy-hungry region.


“Our partners expressed particular interest in nuclear energy, noting Russia’s vast experience in this sphere,” Lavrov said in Hanoi, where President Dmitry Medvedev attended a regional summit.

US Secretary of State Hillary Clinton (R) meets with Russian Foreign Minister Sergei Lavrov during the ASEAN summit in Hanoi on October 30, 2010. AFP

During Medvedev’s visit to Vietnam, Russia will also sign a multi-billion-euro deal on Sunday to build Vietnam’s first nuclear power plant.


An official with Russian state nuclear conglomerate Rosatom told AFP the construction of the two-unit plant is estimated at over 4.0 billion euros (5.5 billion dollars).


Russia is locked in a global race with competitors like the United States, Japan and France to clinch lucrative worldwide contracts as demand for nuclear energy increases.


Vietnam has approved the construction of the country’s first nuclear power stations, and its initial plans call for four reactors with a total capacity of 4,000 megawatts, at least one of which should be operational from 2020.


Lavrov added that Russia and its ASEAN partners were interested in pursuing joint projects in geothermal energy in the region.


“The prospects are quite good,” he said, adding the potential projects would be the focus of the countries’ action plan through 2015.


Association of Southeast Asian Nations (ASEAN) secretary general Surin Pitsuwan told reporters at the 10-member bloc’s summit in Hanoi that leaders agreed on the need for clean energy projects in the region.


“Without energy we could not drive our economy, but at the same time using traditional energy may impact upon our global environment,” he said, adding that member countries are working on “green energy, clean energy, new, alternative energy that would not have any impact on the environment”.

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Source: SGGP

Asia must avoid ‘distortions’ in handling hot money: ADB

In Uncategorized on October 30, 2010 at 11:10 am

HANOI, Oct 30, 2010 (AFP) – Developing Asian nations must carefully manage a massive inflow of foreign capital and avoid remedies that could create destabilising “distortions”, the Asian Development Bank chief warned Saturday.


Haruhiko Kuroda told Asian leaders at a summit in the Vietnamese capital Hanoi that capital flows are one of two risks that regional economies face as they rebound from the global downturn that began in 2008.


His comments came shortly before the US Federal Reserve is expected to announce it will go into a second round of quantitative easing, injecting more money into the banking system to further stimulate the world’s biggest economy.

Indian Prime Minister Manmohan Singh (R) speaks with Australian Prime Minister Julia Gillard ahead of a bilateral meeting at the ASEAN Summit in Hanoi on October 30, 2010. AFP

The first risk is that the recovery in the developed economies could falter, Kuroda told presidents, prime ministers and a sultan, as well as US Secretary of State Hillary Clinton and the Russian foreign minister.


“The second risk is capital flows, which could complicate macroeconomic management,” Kuroda said in a prepared speech made available to journalists.


“We must be prepared,” he told his audience, which also included Chinese Premier Wen Jiabao.


Referring to Asian economies outpacing growth in the developed world, Kuroda said “faster growth and higher yields can draw excessive — and potentially volatile — capital flows into the region”.


“Authorities are watching asset prices and exchange rates carefully, with several beginning to use well-targeted capital controls to limit speculation,” he said.


“Care must be taken, however, not to create distortions.”


Hammered by the financial turmoil that began in 2008, the United States, Japan and Europe are moving to weaken or cap their currencies in a bid to make their exports more competitive in the global market.


They have also injected more money into their banking systems to stimulate growth, with the Fed expected to announced a second round of quantitative easing when it meets from Tuesday to Wednesday.


But because growth in the developed world is anaemic and unemployment high, a large chunk of the money is heading to emerging markets, including in Asia, where it stands to gain better yields.


According to the Washington-based Institute of International Finance (IIF), net private capital flows to emerging economies are projected to reach 825 billion dollars this year, or more than two billion dollars a day, up from 581 billion dollars in 2009.


The massive inflow has nudged most Asian currencies higher, making their exports more expensive on the global market as the US allows the dollar to weaken and China keeps a tight rein on the yuan.


The influx has also led to steep gains in stocks and property prices, which have stoked fears of “bubbles” which could later burst if the money is withdrawn quickly, and prompted individual central banks to act to cool down their markets.


Philippine Finance Secretary Cesar Purisima, who is attending the Hanoi meetings, called for cooperation among developing states to fight the impact of the currency tensions.


“Our concerns as small countries is when the pendulum swings the other way around. What would happen to us — and really this is something that we need to address as a group and not as a single country,” he told reporters on Friday.


The IIF in a research note released in October urged policymakers to be careful about the international and domestic impact of the actions they take on their currencies.


A disorderly adjustment can cause “renewed strains in global financial markets and, possibly, igniting policy tensions and, possibly, protectionist measures between key economies,” it warned.

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Source: SGGP

Qatar Airways increases flights to Asia

In Uncategorized on October 21, 2010 at 7:52 pm




Qatar Airways increases flights to Asia


QĐND – Thursday, October 21, 2010, 19:49 (GMT+7)


PANO - Qatar Airways detailed its commitment to expanding its presence and offering in the Asian Market at ITB Asia, the region’s largest travel trade show taking place in Singapore between October 20 and 22.

The airline is promoting new routes to Phuket and Hanoi and increased services to Bangkok and Ho Chi Minh City, together with exciting stopover packages for international events in Doha to make a trip to Asia an even more attractive option for European travellers, the carrier announced the plan on October 21st.


Qatar’s new route to Thailand’s premier resort island of Phuket offers flights six times a week, increasing to daily flights in November via Kuala Lumpur and connecting to several of Qatar Airways’ key markets in Europe. Launched on October 12, this is Qatar’s second route to Thailand and the 8th new international destination it has launched this year. The Phuket services are part of an overall capacity increase to Thailand, which is witnessing a rapid post-recession recovery in tourism with arrivals expected to top 14 million in 2010. Qatar Airways boost its Doha – Bangkok frequencies from twice daily flights to triple daily effective from November 1.  Qatar Airways will exercise fifth freedom traffic rights allowing it to sell tickets between Phuket and Kuala Lumpur. 


Qatar Airways Chief Executive Officer Akbar Al Baker said that the airline’s route to Thailand’s largest island reinforced the airline’s commitment to target underserved Asian markets. On November 1, Qatar will commence four flights a week to the Vietnamese capital of Hanoi, as well as increased frequency to Ho Chi Minh City from three flights a week to daily.


“Visitor numbers to Asian destinations such as Phuket and Hanoi are on the rise and Qatar Airways will look to take advantage of our European connections from countries like Russia, Germany, Denmark, Sweden, the UK and other parts of Europe to expand the market. With only a handful of airlines offering flights from Europe to these destinations, the opportunity is there for us to acquire market share,” said Al Baker.


In Asia-Pacific, Qatar Airways’ route network now extends to 17 destinations and makes up almost 20 per cent its global network.


Qatar Airways Stopover Packages


To sweeten the offer further, Qatar is taking advantage of the many international events in home-base Doha offering VIP stopover packages through Qatar Airways Holidays.


Qatar is launching the VIP deal with the World Tennis Association Championships- Doha 2010 and the 2nd Annual Doha Tribeca Film Festival from October 26 to 31. More event-linked offers will be rolled out during 2011 providing travelers with VIP tickets and select hotels to create exclusive stopover package.  


Qatar Airways Awarded

Recognising its long-term partnership with Asia and growing services and products, Qatar was recently awarded two major industry accolades: Best Middle Eastern Airline By TTG Asia Magazine for the 5th consecutive year and Best Middle Eastern Airline Business Traveller Asia-Pacific for the 2nd year running. 


Both awards are in recognition of Qatar Airways’ strong commitment towards travel excellence as voted by readers of TTG Asia – a prestigious weekly travel trade magazine published across Asia – and the monthly Business Traveller Asia Pacific, which also has sister titles worldwide aimed at frequent fliers. 


Qatar Airways is the only Middle East carrier in an elite club of Five Star-ranked airlines recognising the best in service excellence by industry audit, Skytrax.


The airline’s Senior Vice President East Asia and South West Pacific, Marwan Koleilat, who picked up the awards on behalf of the airline, said: “Qatar Airways continues to set high benchmarks to remain competitive. Across Asia Pacific, we have made significant inroads with our flights and increased capacity that provide us with extensive reach in one of the world’s most important vibrant regions.”


 


“The awards are further evidence of Qatar Airways’ success in offering innovative products and services to our passengers,” he said adding, “We are proud that the exceptional standards we set have been recognised by our valuable customers, as well as the travel industry.”


Since February this year, Qatar Airways has launched flights from its Doha hub to Bangalore, Tokyo, Ankara, Copenhagen, Barcelona, Sao Paulo, Buenes Aires and Phuket.


Over the next five months Qatar Airways will introduce scheduled flights to Hanoi, Nice, , Bucharest, Budapest, Brussels and Struttgart. With a growing international network, Qatar Airways is able to offer passengers from across Asia with excellent connections to destinations around the world via Doha.


Qatar Airways operates a modern fleet of 89 aircraft to 93 key business and leisure destinations across Europe, Middle East, Africa, Asia Pacific and North and South America. The carrier has outstanding orders for more than 200 aircraft worth over US$40 billion.


 


Reported by Thu Nguyen


 


Source: QDND

Robust economic recovery in East Asia, says WB

In Uncategorized on October 20, 2010 at 11:03 am

The economic recovery in Vietnam in particular and in East Asia and the Pacific in general is robust, said the World Bank in its latest East Asia and Pacific Economic Update.

The WB Update was announced at a press briefing in Hanoi on Oct. 19.


According to the Update, Vietnam ’s economy has recovered strongly with a GDP growth of 5.3 percent in 2009 and is on the way to the target of 6.5 percent this year. The nation’s foreign investment rose from USD6.9 billion in 2009 to USD7.6 billion in 2010.


In addition, manufacturing companies’ relocation of plants in Southeast Asia is benefiting Vietnam as its workers’ salaries are low and its sea-bordered position is favorable for attracting investment capital.


The Update notes that output has recovered to above pre-crisis levels throughout developing East Asia, and is expanding at near pre-crisis rates in some countries.


Real GDP growth is likely to rise to 8.9 percent in the region in 2010 (6.7 percent excluding China), up from 7.3 percent in 2009 and in line with the average growth rate during the 2000-2008 period. Private sector investment is once again driving growth, confidence is on the rise, and trade flows have returned to pre-crisis levels.


Yet, greater confidence in the region’s growth prospects and concerns about tepid economic expansion in advanced economies is creating the need for policymakers to perform a delicate balancing act — in particular, around the return of large capital inflows and appreciating currencies.


“Should inflows remain strong, especially against a background of weak global growth, the authorities will be faced with the challenge of balancing the need for large capital inflows — especially foreign direct investment — with ensuring competitiveness, financial sector stability, and low inflation,” said Vikram Nehru, World Bank chief economist for the East Asia and Pacific region.


The East Asia and Pacific Update which is published twice yearly is the WB’s comprehensive review of the region’s economies.

Source: SGGP

Dollar falls in Asia as stocks surge on hopes over US policy

In Uncategorized on October 14, 2010 at 2:27 pm

HONG KONG, Oct 14, 2010 (AFP) – The dollar fell to a new 15-year low against the yen Thursday and Asian stocks posted strong gains on growing expectations of new pump-priming measures in the United States.


The greenback dipped to 81.28 yen in early Tokyo trade, its worst showing since April 1995, while it was also under pressure from the euro and Singapore dollar.


Despite the dollar’s continued weakness against the yen Tokyo’s Nikkei stock index was 1.82 percent higher by the break as resource firms were lifted by surging commodity prices.


Traders are banking on the US Federal Reserve to introduce further monetary easing at its next policy meeting as it tries to kickstart recovery in the sluggish economy.


Hong Kong was 1.31 percent higher, Sydney added 1.55 percent, Shanghai gained 1.85 percent and Seoul was up 0.85 percent, while Singapore advanced 0.38 percent.


BBY senior institutional trader Peter Copeland said: “As long as China remains on track and QE2 (quantitative easing) underpins the US economy and commodity prices, while sending the US dollar down, I see further upward momentum for equities.”


“You now have this perverse situation where bad economic news in the US is good news for equities because it supports the case for QE2,” he told Dow Jones Newswires.


Minutes from last month’s meeting of the Fed’s Open Market Committee said the central bank was prepared “to provide additional accommodation if needed” to help the economy.


The dollar’s losses have been capped, however, by threats from Japanese authorities that they would intervene again in currency markets to sell the yen.


The Bank of Japan last month stepped into the markets for the first time in six years as the dollar hit 82.86 yen. A strong yen hurts exporters as it makes them less competitive while also cutting their profits when repatriated.


A 0.69 percent rise on the Dow Wednesday provided Asian dealers with the impetus to continue buying as Wall Street welcomed a strong set of quarterly corporate data.


The dollar came under broad selling pressure on Thursday with the Singapore dollar surging against the US unit after the city-state’s central bank announced a surprise tightening of monetary policy.


The Monetary Authority of Singapore made the announcement after the government said the economy was likely to expend between 13 and 15 percent this year, leading to concerns over rising inflation.


Singapore’s monetary policy is conducted via the local currency, which is traded against a basket of currencies of its major trading partners within an undisclosed exchange rate band.

The weaker dollar sent commodities higher, with gold hitting a new high, opening at 1,376.00-1,377.00 US dollars an ounce in Hong Kong, up from Wednesday’s close of 1,359.00-1,360.00 dollars.


And on oil markets New York’s main contract, light sweet crude for November delivery, gained 71 cents to 83.72 dollars a barrel.


Brent North Sea crude for delivery in November advanced 53 cents to 85.17 dollars on its last trading day.

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Source: SGGP

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