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Posts Tagged ‘disasters’

Hanoi sets up a reserve fund for victims of natural disasters

In Uncategorized on August 6, 2010 at 3:21 pm

Hanoi sets up a reserve fund for victims of natural disasters

QĐND – Friday, August 06, 2010, 20:47 (GMT+7)

The Hanoi People’s Committee has allowed the Northern Foodstuff Corporation and the Hanoi Trade Corporation to disburse in advance VND 100 billion in reserve goods and foodstuff for emergency aid to people in natural calamity-hit areas during this year’s stormy and rainy season.

The sum, drawn from the city’s financial reserve fund, will be used to buy rice, instant noodles or dry provisions, candles and drinking water for people in the regions hit by natural disaster in the city.

The Department of Industry and Commerce and related agencies are in charge of the scheme to ensure stable life for local people in the stricken areas.

Also the Department of Industry and Commerce has a responsibility of supervising of the use of the reserve fund for the right purposes and ensure the refund is on time.

Source: Dantri

Translated by Mai Huong

Source: QDND

Natural disasters caused heavy losses in life and property

In Uncategorized on August 1, 2010 at 7:18 pm

Natural disasters caused heavy losses in life and property

QĐND – Sunday, August 01, 2010, 21:10 (GMT+7)

The first and second tropical storms in July, Conson and Chanthu, caused great losses of human lives and resources, and seriously impacted production and the daily lives of the local people.

The General Statistics Office (GSO) says that the natural disasters have left 40 dead and missing and caused a total of VND1,300 billion in property damage. The northern port city of Hai Phong suffered most, with a material loss of about VND1,200 billion.

According to a preliminary report by the Ministry of Agriculture and Rural Development (MARD), more than 100 houses collapsed and about 1,900 more were partially damaged, while nearly 13,000 hectares of rice and other crops were damaged or washed away.

Each year, about 750 people are killed or go missing in Vietnam due to natural disasters, and an estimated 1.5 percent of the nation’s GDP in property is lost. Functional agencies need to increase their forecasting and warning capacity for floods and storms and make more joint efforts in responding to natural disasters.

The Central Steering Committee for Flood and Storm Prevention and the National Committee for Search and Rescue should draw up flexible plans to help local people cope with natural calamities to minimise human and material losses.

Source: VOV

Source: QDND

Ripples from world disasters affect VN

In Uncategorized on September 21, 2008 at 3:49 pm

HA NOI, HCM City — Waves of sales, resulting from concerns about the global financial market situation, depressed share prices on both the Ha Noi and HCM City markets yesterday.

Concerns fuelled by the US Lehman Brothers and Merill Lynch disasters began to have a broad impact on the domestic stock market, beginning on Tuesday.

The VN-Index plunged another 17.96 points, or 4.11 per cent, yesterday, to close at 419.28. Trading volume fell slightly to 12.15 million shares from Wednesday’s 13.6 million, for a total value of VND452.62 billion (US$27.43 million).

The HCM City Stock Exchange saw 151 losers. Almost all stocks hit the floor of the regulated trading band, as they did on Tuesday and Wednesday.

Song Da Urban-Industrial Zone Investment and Development (SJS) and Tay Ninh Cable Tour Co (TCT) lost 5.15 per cent each, yesterday’s biggest fall. Major stocks Vinamilk (VNM), Binh Dinh Minerals (BMC) and Vincom Joint Stock Company (VIC), were also among the biggest losers.

Experts on Wednesday said that it might take several months to see the impact of US bank collapses on domestic businesses, but recent troubles in the US financial market have had an immediate affect on investors’ psychology. Phu My Fertilisers (DPM), however, was the most active yesterday, with orders for 1.3 million shares traded, followed by Sacombank (STB) with more than 721,000 shares.

Foreign investors were net buyers, loading up 5.56 million shares and selling 3.97 million units, with a net purchase value of VND71.5 billion ($4.3 million). Foreigners had been net sellers for the last two weeks.

On the Ha Noi Securities Trading Centre, the HASTC-Index ended at 136.08 after slipping 8.66 points, or 5.98 per cent for the day. Trading volume was 3.8 million shares worth VND107 billion ($6.48 million).

Thac Ba Hydro Power Joint Stock Co (TBC) led the northern bourse in terms of trading volume with more than 632,000 shares traded, followed by Asia Commercial Bank (ACB) with about 476,000 shares.

“The domestic market being dumped is mainly due to investors’ psychology, not due to its inner problems,” said Ngo Van Minh, director of EuroCapital’s Investment Analysis Department, adding that the local market hadn’t had a close connection with the global market.

According to Minh, foreign investors were still holding Government bonds and showed no signs of withdrawing from the market.

“At this time, investors should keep calm and shouldn’t sell stocks en masse,” he said.

Thang Long Securities General Director Le Dinh Ngoc said on Wednesday that the market downturn will not last long, pointing out that there were still positive moves such as the slash in diesel price on Tuesday; while some observers said a daily trading band of 5 per cent on the southern market and 7 per cent on the northern market would soon bring share prices to levels that are reasonable to investors.

A wave of money was flowing into gold, which investors considered a safer investment channel now, according Minh. This pushed up gold prices on the world market and, subsequently, on the domestic market.

Domestic gold prices increased dramatically yesterday morning, rising by VND1.5 million ($90.9) to about VND18.3 million ($1,100.9) per tael.

“[World] gold prices were on a roller coaster in the spot market, rising 0.5 in a volatile day and providing hardly any of the stability the precious metal has afforded in the past. Gold posted its biggest nominal rise ever on Wednesday as frenzied investors sought relatively safe assets,” a Reuters report said yesterday.

Central Institute for Economic Management economist Vo Tri Thanh said maintaining economic stability should be a priority now, along with keeping investors’ confidence.

Viconship Sai Gon lists

HCM City Stock Exchange welcomed the southern Viet Nam Container Shipping Joint Stock Company (Viconship Sai Gon) yesterday as the 160th enterprise listed on the board.

The company, coded as VSG, has a chartered capital of more than VND110 billion (US$6.6 million), with Viet Nam National Shipping Lines representing around 30 per cent, Maritime Bank with 8 per cent and Taiwan’s shipping firm Evergreen with almost 4 per cent. Evergreen is also a major client.

VSG’s major activities include ocean shipping, shipping and logistical services, warehouse storage, crew training and recruitment and real estate. —