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Posts Tagged ‘1.3’

Doosan invests US$ 1.3 billion in power plant

In Uncategorized on December 17, 2010 at 1:58 pm

Doosan invests US$ 1.3 billion in power plant

QĐND – Tuesday, December 14, 2010, 20:20 (GMT+7)

Doosan, the parent company of Doosan Vina, specialising in heavy industry and construction, has just signed a contract, valued at US$ 1.3 billion, to build a power plant in Mong Duong, Quang Ninh Province.

Doosan Vina, its subsidiary in Vietnam, already operating a manufacturing plant in the Dung Quat Economic Zone, will play an important role in the contract, according to the company.

Accordingly, Doosan will provide expertise and technology for partners in building, operating and transferring the power plant.

Representatives of Doosan also said that the project will be implemented by the company, AES-VCM and Mong Duong Power Company, in which Doosan is responsible for supplying technology and equipment to build the hi-tech power plant of Mong Duong with a designed capacity of 1,200 mW.  

The construction of the plant is expected to be finished by June 2015, the investors said.

Source: TBKT

Translated by Thu Nguyen

Source: QDND

VND 1.3 trillion funded for sewage processing

In Uncategorized on November 25, 2010 at 5:21 pm

VND 1.3 trillion funded for sewage processing

QĐND – Thursday, November 25, 2010, 20:57 (GMT+7)

The Hanoi People’s Committee has finally passed the plans and conditions to mobilise capital for projects to collect and process waste water in Ha Dong and Son Tay.

The projects, costing some VND 1,296 billion from the French Government’s ODA and Vietnam’s corresponding capital will be managed by the City’s Construction Department.

Under the projects, an underground drainage system that will collect waste water from households of 116,000 people on an area of 1,545 ha and a liquid waste processing plant will be built in Ha Dong.

Similar subprojects will be implemented in Son Tay Town.

Officials said that the projects are aimed to improve living conditions for local dwellers in the response to the increasing urbanisation and the downgraded liquid waste processing facilities in the two localities.

Source: HNM

Translated by Thu Nguyen

Source: QDND

Jury orders SAP to pay Oracle 1.3 billion dollars

In Uncategorized on November 24, 2010 at 6:50 am

A US jury has ordered German business software giant SAP to pay US rival Oracle 1.3 billion dollars in damages in a record-setting copyright infringement award.

“We’re ecstatic,” said Geoffrey Howard, a partner with the Bingham McCutchen law firm, a member of the Oracle trial team. “The jury recognized the value of the intellectual property stolen by SAP.”

Oracle attorneys called the copyright damages award the highest ever and hailed the verdict as a resounding warning that stealing intellectual property from technology companies will not be tolerated.

SAP subsidiary TomorrowNow recovered and copied massive amounts of Oracle software and confidential data by posing as clients, according to court documents.

A customized software tool dubbed “Titan” was allegedly used to plunder Oracle’s website of patches, updates, fixes and other programs crafted for Oracle’s paying customers.

SAP admitted to the copyright infringement in legal “stipulations” that cleared the way for a jury trial regarding how much should be paid to Oracle in damages.

“SAP wanted to take responsibility,” Oracle attorney David Boies said after the jury revealed its decision. “They now have the opportunity to do that and move on.”

During closing arguments in the case being held in a federal court here, SAP attorney Robert Mittelstaedt conceded the copyright infringement by SAP and focused on minimizing any damage award.

“I’m not proud of this and SAP is not proud of this,” Mittelstaedt said.

SAP will study its legal options before deciding whether to appeal the verdict or petition the judge to reduce the amount, a company spokesman told AFP in the courtroom.

SAP was interested in putting the unflattering case behind it, he added.

“We are, of course, disappointed by this verdict and will pursue all available options, including post-trial motions and appeal if necessary,” head of SAP Americas media relations Jim Dever said in an emailed statement.

“This will unfortunately be a prolonged process and we continue to hope that the matter can be resolved appropriately without more years of litigation.”

SAP could negotiate with Oracle to agree on a reduced settlement payout in exchange for not appealing the verdict.

Jurors interviewed after the verdict said that deliberations focused on how much SAP might have had to pay if it began licensing Oracle’s copyrighted technology in 2005 instead of swiping it.

Award amounts discussed by the jury ranged from 519 million dollars to three billion dollars, according to the jury foreman, who declined to give his name.

“You have something and someone takes it and uses it, they’ve got to pay,” said juror Joe Bangay, a 57-year-old auto body worker.

Jurors were convinced that top SAP executives were aware of what was taking place “every step of the way,” according to the foreman.

He doubted that testimony by former SAP chief executive Leo Apotheker would have changed the outcome of deliberations.

Apotheker avoided efforts by Oracle’s trial team to serve him a subpoena that would have compelled him to testify at trial.

Apotheker was recently hired by US computer giant Hewlett-Packard (HP) to replace Mark Hurd as chief executive, but HP refused to help track the former SAP boss down for the trial.

Apotheker was on the SAP board that unanimously approved a deal to buy US technology firm TomorrowNow, which copied massive amounts of Oracle software and confidential data by posing as clients.

No matter what amount SAP winds up paying Oracle, the case threatens to cost the German firm its reputation as a trusted vendor of business software.

“This will cost SAP moving forward,” said analyst Rebecca Wettemann of Nucleus Research. “Oracle is going to be asking whether you want to buy from an innovator or someone who is stealing others’ innovations.”

Source: SGGP

VND 1.3 trillion invested in sea dykes

In Uncategorized on June 28, 2010 at 4:49 pm

VND 1.3 trillion invested in sea dykes

QĐND – Monday, June 28, 2010, 22:7 (GMT+7)

The Ministry of Agriculture and Rural Development proposed that the Government would invest VND 1,300 billion in the sea bank system from Quang Ninh to Quang Nam.

During the five-year sea dyke upgrading programme reviewing conference, the Ministry’s officials claimed that the sea bank system from Quang Ninh to Quang Nam needed upgrading and fortifying, and coastal forests in the area should be protected and replanted.

At the conference, Deputy Prime Minister Nguyen Sinh Hung agreed to the proposal and asked involved local authorities to immediately draw up plans to recover and replant coastal forests in their localities.

He ordered local authorities to finish all coastal forest planting projects in 3 years.    

Source: NLD/ Photo: VNA

Translated by Thu Nguyen

Source: QDND

1.3 million youths provided with loans

In Uncategorized on April 18, 2010 at 3:21 pm

1.3 million youths provided with loans

QĐND – Sunday, April 18, 2010, 21:19 (GMT+7)

In the 2004-2009 period, the Vietnam Youth Union has lent nearly VND6 trillion, to 1.3 million young people.  

Over the past five years, the Union has granted scholarships for more than 375,000 youths and arranged for nearly 1,000 young entrenpreneurs to share their experiences via E-learning. It has implemented over 114,000 youth projects worth VND654 billion.

The Union has also established a number of affiliated organizations like the Young Business Association, the Young Intellectual, Science and Technology Association and the Young Doctors Association.

In its 5th term, the Union has admitted nearly 1 million new members to increase its total membership to approximately 8 million.

Source: VOV

Source: QDND

Australia, ADB to grant $1.3 mln for Mekong delta efforts in climate change

In Vietnam Environment on January 15, 2010 at 9:20 am

Vietnam will get technical assistance grants totaling US$1.3 million from the Australian Government and the Asian Development Bank to carry out a full assessment of the climate change threats posed to the Mekong Delta, the bank announced Wednesday.

An ADB statement from the bank’s headquarters in Manila said the grants would also help Vietnam take actions in the face of an expected sea-level increase and more frequent and severe floods.

The Mekong Delta in southern Vietnam is home to a fifth of the 83-million population, and the main producer of rice. But it is the country’s most vulnerable region to climate change.

A brackish forest map of Ca Mau Province (map by the Vietnam Environment Administration)

Preliminary studies show that up to 31% of the total land used for agriculture and aquaculture in the delta is at risk from a potential one meter rise in the sea level by 2100. This would have severe effects on the lives of about 4.8 million people, including over a million and a half poor.

 “Effective climate change adaptation measures urgently need to be developed and integrated into the region’s development planning to enhance the physical and economic climate-resilience of the region and to protect poor and rural households,” Yongping Zhai, lead professional energy specialist in the ADB’s Southeast Asia Department, said in Wednesday’s statement.

The areas selected for detailed analysis and piloting under the technical assistance project are the coastal provinces of Kien Giang and Ca Mau, while the sectors chosen are energy, transport and agriculture, with the latter at the center of the Vietnamese government’s national action plan for climate change adaptation, according to the ADB.

The total cost of the project is US$1.63 million equivalent, with the Australian Government providing an US$800,000 grant, which will be administered by the ADB. The bank is supplying US$500,000 from its Climate Change Fund, while the Vietnamese Government will provide the remaining US$330,000, the bank said.

The Ministry of Natural Resources and Environment is the executing agency for the project which will be carried out from January 2010 to April 2011.

Source: SGGP Bookmark & Share

Japan’s Q3 GDP growth revised down to 1.3 percent

In World on December 9, 2009 at 1:38 pm

TOKYO (AFP) – Japan’s economy grew at a much slower rate than previously thought in the third quarter, fresh data showed Wednesday, as the country struggles to emerge from a crushing recession weighed by a soaring yen.

Businessmen pass a share prices board in Tokyo. (AFP photo)

The world’s number two economy expanded at an annualised rate of 1.3 percent in the July-September quarter, sharply down from the original estimate of 4.8 percent, the Cabinet Office said.

It meant the economy — which early this year emerged from its worst post-war recession — expanded just 0.3 percent in the three months, compared with the initial estimate of 1.2 percent, it said.

The revision came as capital investment, the amount companies spend, was revised down to reveal a contraction of 2.8 percent from an original estimate of 1.6 percent growth, the Cabinet Office said.

Prime Minister Yukio Hatoyama admitted the difficulty of navigating the economy out of deep stagnation and stressed the benefits of a new government stimulus package announced Tuesday.

“As the Japanese people are already feeling, the economy is not necessarily doing fine,” he told reporters. “I would like to take appropriate economic policies going forward.”

His government announced a fresh stimulus package worth 274 billion dollars, with 80 billion dollars in direct spending, that includes environmental programmes, assistance for small businesses and help to local communities.

“If you look at our new economic growth strategies, you will feel that things no longer match the status quo,” Hatoyama said, referring to his centre-left party’s election win that ended decades of conservative rule.

Hatoyama has been criticised as being too slow to act, with the latest package seen as likely to have only a limited effect on the economy.

Private economists on average expected the revised data to show annualised growth of 2.7 percent, with most saying the original estimate was too high.

Japan’s economy has struggled as the yen strengthens against the greenback — with it hitting a 14-year high around 84 to the dollar — hurting exporters by making their products expensive and reducing overseas earnings when converted back into yen.

The government last month declared the nation was in deflation, while consumer spending remained weak.

“The domestic economic sentiment has been terrible,” said Masamichi Adachi, senior economist at JP Morgan Securities.

“The three reasons for the terrible sentiment are the yen’s rise, deflation and mistrust in the government’s policies.”

Source: SGGP Bookmark & Share