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Posts Tagged ‘August’

Vietnam’s stock markets drop most since August after Moody’s lowers rating

In Uncategorized on December 16, 2010 at 10:06 am

Vietnam’s benchmark VN-Index, which tracks 271 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, slumped on December 16 due to bad news on financial markets.

Moody’s Investors Service downgraded Vietnam government’s bond rating to B1 from Ba3, citing the risk of a balance of payments crisis and a drop in foreign reserves as inflation accelerates and the nation’s currency weakens. Along with this decision, the credit rating agency also cut long-term foreign-currency rating of six Vietnamese banks to B2 from B1.

The gauge tumbled the most since August, slashing 2.69 percent, or 13.26 points, to close at 480.21 points.

Among the index members, 28 advanced, 208 retreated, while 40 remained unchanged.

Trading volume stayed on high level as around 80.79 million shares worth VND1.9 trillion changed hands.

Tan Tao Investment Industry Corporation (ITA) led the list of most active shares by volume with 5.54 million shares changing hands.

It was followed by Saigon Securities Inc. (SSI), the country’s largest brokerage, with 5.29 million shares traded.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) ranked third with 3.24 million shares.

Tan Binh Import – Export Joint Stock Company (TIX) nosedived for five straight days, giving up 5.05 percent to VND39,500. The company will pay dividends for the second term of this year in cash at a ratio of 20 percent to its current shareholders on December 30.

Other losers on the city bourse included Binh Dinh Minerals Company (BMC), Southern Rubber Industry Joint Stock Company (CSM), and Dien Quang Joint Stock Company (DQC).

Among a few gainers, seafood producer Vinh Hoan Corporation (VHC) accelerated 4.83 percent to VND30,400.

Mirae Joint Stock Company (KMR) rebounded 4.76 percent to VND8,800.

Viet Nam Joint Stock Commercial Bank for Industry and Trade or Vietinbank (CTG) advanced the fifth day, enhancing 4.72 percent to VND22,200.

The Hanoi’s HNX-Index plummeted 4.29 percent, or 5.17 points, to close at 115.43 points. Trading volume dropped to 57.7 million shares worth VND1.1 trillion.

Meanwhile, the UPCom-Index tripped by 1.02 points to 41.14 points this morning. A total of 123,200 shares changed hands at a value of VND1.31 billion.

Source: SGGP

Australian PM poised to call August election: reports

In Uncategorized on July 16, 2010 at 4:46 pm

SYDNEY, July 16, 2010 (AFP) – Australia’s new Prime Minister Julia Gillard is poised to call a general election for late August, media said Friday, as she moves to legitimise her rule after being catapulted to power in a party coup.

Gillard, who became the country’s first woman leader after ousting her predecessor Kevin Rudd just three weeks ago, was expected Saturday to ask the country’s governor general to set an August 28 poll date, the ABC said.

(FILES) A file photo taken on June 24, 2010 shows Australia’s new prime minister Julia Gillard (R) and deputy prime minister Wayne Swann (L) at a press conference. AFP

“Labor sources have told the ABC Ms Gillard is expected to visit Governor General Quentin Bryce in Canberra tomorrow morning to set an August 28 election date,” the public broadcaster said, quoting ruling Labor Party sources.

Rival Sky News quoted sources as saying the poll could be called for either August 28 or a week earlier on August 21.

Both the ABC and Sky News however said the centre-left prime minister would return to Canberra on Saturday to ask Bryce to dissolve parliament and issue writs calling for an election.

Gillard was tight-lipped about the timing of the looming poll.

“I’m not engaging in election speculation,” she told reporters in the island state of Tasmania. “But whenever the election is called it will be a very clear choice about whether Australia moves forward or back.”

As a constitutional monarchy, Australia’s electoral system requires the prime minister to ask the governor general — Queen Elizabeth II’s official representative — to call an election at least 33 days before the polling date.

The election for members of the lower House of Representatives and half of the Senate will see Gillard pitted against conservative Liberal Party opposition leader Tony Abbott for the nation’s leadership.

Analysts have speculated for weeks that Gillard would call a late August vote in order to cash in on an opinion poll “bounce” her party has enjoyed since ejecting Rudd, whose popularity had plummeted over policy missteps.

A Nielsen and Galaxy opinion poll last week gave Labor a narrow but election-winning 52-48 percent lead over the opposition Liberal-National coalition, up from 33 percent in early June.

But the flame-haired prime minister has already hit political turbulence as she battles to win support for her policies on the core issues of asylum seekers, the economy and climate change.

Gillard promised polls this year after taking over from Rudd, who was ruthlessly toppled by party colleagues less than three years into his first term, following the spectacular collapse of his public popularity.

Since being sworn in she has been frantically trying to clear the decks of thorny policy issues that could cost her government re-election, including a disputed mining tax and how to stem an influx of boatpeople that has angered the public.

Gillard, who was Rudd’s deputy, has also been anxious to defuse concerns over her loyalty and the legitimacy of her rise to power after Rudd’s ignominious dismissal.

After being elected as the new Labor leader, she said she would not move into the official prime ministerial residence until she had been elected by the people in her own right.

The straight-talking former industrial lawyer has been scrambling to tackle the core issues that led to Rudd’s implosion: the controversial 40 percent mining tax, refugee arrivals and plans to fight climate change.

But while she quickly struck a deal with major miners on a new and less onerous tax, her bid to tackle the asylum seeker issue backfired amid confusion over where a mooted regional processing centre would be based.

The prime minister is also expected to unveil her plans for fighting global warming, after Rudd’s government fatefully shelved plans to introduce a carbon emissions trading scheme in the face of staunch opposition from Abbott.

Welsh-born Gillard, 48, is a self-confessed atheist and is seen as a liberal on social issues, a political pragmatist and consensual leader; devout Catholic Abbott is a social and political conservative known for his gaffes and colourful language.

The election is expected to be played out in marginal seats in the populous eastern states of Queensland, New South Wales and Victoria.

Source: SGGP

August Revolution to be formally celebrated

In Uncategorized on June 8, 2010 at 2:30 pm

August Revolution to be formally celebrated

QĐND – Tuesday, June 08, 2010, 21:1 (GMT+7)

Prime Minister Nguyen Tan Dung has approved a project to celebrate the 65th anniversary of the August Revolution (August 19) and Independence Day (September 2).

According to the project’s detailed programme, the celebration will be held at the Ho Chi Minh Mausoleum, the Bac Son War Matyrs monument and the National Convention Centre on September 1.

The event is aimed at affirming the great historical value and significance of Vietnam’s August Revolution in the foundation of the Democratic Republic of Vietnam and the leading role of the Communist Party and President Ho Chi Minh in the cause of national liberation, construction, and defence.

The celebration will include paying tribute to President Ho Chi Minh at his mausoleum, and offering incense at the monument.

There will be other activities upholding the spirit of patriotism, and great national unity, and showing gratitude to those who died for the country’s independence.

Source: VOV

Source: QDND

Hanoi Craft Week 2010 to take place in August

In Uncategorized on May 25, 2010 at 9:22 am

Sheraton Nha Trang’s summer promotion available till August

In Uncategorized on May 24, 2010 at 9:16 pm

VietJet AirAsia to hit skies in August

In Uncategorized on April 9, 2010 at 8:46 pm

VietJet AirAsia to hit skies in August

QĐND – Friday, April 09, 2010, 20:59 (GMT+7)

Vietnam-based low-cost airline VietJet AirAsia would make its first commercial flight in August, said AirAsia general director Tony Fernandes on April 8.

Fernandes was at a signing ceremony for the strategic partnership agreement between Malaysian budget carrier AirAsia and local VietJet Aviation, held in Hanoi.

The ceremony was witnessed by Malaysian Prime Minister Yang Amat Berhormat Dato’ Sri Mohd Najib Tun Razak and Vietnamese Deputy Prime Minister Truong Vinh Trong, as well as representatives of the two countries’ ministries.

AirAsia has bought a 30 percent stake in VietJet Aviation to establish the new carrier.

Fernandes said the two governments had supported the operation of VietJet AirAsia. He said the carrier would help increase tourism to both countries and enhance the nations’ relationship and promote the integration process in ASEAN.

The agreement would strengthen co-operation between Vietnam and Malaysia towards common targets of the region’s economic development, he said.

VietJet Air general director Nguyen Duc Tam said advantage would be taken of AirAsia’s technology and experience to ensure quality and safety.

Fernandes also said there would be no competition between Vietnam Airlines and VietJet AirAsia as their market segments were different.

The carrier would operate both domestic and international flights, he said.
VietJet Air main shareholders were Sovico Group, T$C Group and the Housing Development Joint Stock Commercial Bank.

The first privately owned Vietnamese airline, it was launched in 2007 with an initial investment capital of VND 600 billion (37.5 million USD).

AirAsia in the biggest budget carrier in Asia with a wide network of flight routes in ASEAN. With its associated budget carrier, Asia X, AirAsia flies to destinations in mainland China, Taiwan, Australia and the UK. To date, the two carriers have carried over 85 million of passengers with 90 aircraft.

Source: VNA

Source: QDND