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Posts Tagged ‘extra’

U.S. to send 1,400 extra troops to Afghanistan: report

In Uncategorized on January 8, 2011 at 4:13 am

The United States plans to send 1,400 additional Marines to Afghanistan to boost its combat forces ahead of the spring fighting season, the Wall Street Journal reported on Thursday.


The United States, which led a 2001 invasion of Afghanistan that toppled the Taliban, has about 100,000 troops in the country, and President Barack Obama is under pressure to show results so he can begin a promised withdrawal this year.

A U.S. Marine patrols with a member of an Afghan border guard unit in the desert of the lower Helmand River valley, in southern Afghanistan in this July 1, 2009 file photo

“The Marine battalion could start arriving on the ground as early as mid-January. The forces would mostly be deployed in the south, around Kandahar, where the U.S. has concentrated troops over the past several months.” the paper said. It cited unnamed officials.


The Taliban are at their strongest since they were ousted form power, although operations against the insurgency have intensified since 2008. More than 700 foreign troops were killed in Afghanistan last year, and civilian casualties were at record levels.


Obama said last month that enough progress was being made in the campaign to meet his pledge to start withdrawing U.S. troops by July and hand over security to Afghan forces by 2014.

Source: SGGP

Toyota to pay $32.4 mln in extra fines over recalls

In Uncategorized on December 21, 2010 at 9:32 am

 Toyota has agreed to pay 32.4 million dollars in fines over its handling of two auto recalls, bringing total penalties levied on the firm to 48.8 million this year, officials said.


“Toyota will pay the maximum fines allowable under the law — 16.375 million dollars in one case and 16.050 million in the other — in response to the department’s assertion that it failed to comply with the requirements of the National Traffic and Motor Vehicle Safety Act for reporting safety defects to the National Highway Traffic Safety Administration (NHTSA),” Transportation Secretary Ray LaHood said in a statement.


The two penalties come on top of Toyota’s record 16.4-million-dollar fine assessed in April to settle claims the automaker hid accelerator pedal defects blamed for dozens of deaths.

Toyota has agreed to pay 32.4 million dollars in fines over its handling of two auto recalls, bringing total penalties levied on the firm to 48.8 million this year, officials said.

Toyota issued a series of mass recalls of around 10 million vehicles worldwide in late 2009 and early 2010 that undermined the company’s once stellar reputation and triggered US congressional investigations.


“Safety is our top priority and we take our responsibility to protect consumers seriously… I am pleased that Toyota agreed to pay the maximum possible penalty and I expect Toyota to work cooperatively in the future to ensure consumers’ safety.” said LaHood.


The 16.375-million-dollar fine was tied to an investigation completed Monday over Toyota’s recall of nearly five million vehicles with accelerator pedals that can become entrapped by floor mats, the Department of Transportation said.


“NHTSA’s investigation led the agency to believe that Toyota had not fulfilled its obligation to report a known safety defect within five days, as is required under the law,” it added.


The 16.05-million-dollar fine stems from an NHTSA probe into whether the automaker properly notified the agency of a safety defect in several Toyota models in 2004 and 2005 that could result in the loss of steering control.


The defect led to a 2004 recall in Japan for Hilux trucks that Toyota initially said did not extend to US models. In 2005, Toyota informed NHTSA that the steering relay rod defect was present in several models sold in the United States and conducted a recall for nearly one million vehicles.


NHTSA said it learned in May of complaints from US consumers and others that Toyota had not disclosed additional information.


“Automakers are required to report any safety defects to NHTSA swiftly, and we expect them to do so,” said NHTSA Administrator David Strickland.


Both fines levied against Toyota are the maximum in civil penalties for each of the two violations stemming from the pedal entrapment and steering relay rod recalls.


In 2008, Toyota ended the 77-year reign of General Motors as the world’s largest automaker but the road has been a bumpy one for the Japanese giant, facing the impact of the economic crisis, recalls and recently a strong yen.


Sales are falling in the United States, with the automaker slipping from second to third place this year behind reviving giants Ford and market leader GM.


Toyota reported a 7.3 percent sales drop in November and its market share could fall by 17 percent to just over 15 percent in 2010, according to IHS Automotive.


To stem the bleeding, the automaker has added an extra four weeks to new vehicle testing, sped up its decision-making process and appointed regional quality control officers.


Analysts say Toyota has become more aggressive in catching possible defects as part of a campaign to improve its consumer image, but warn that continued frequent recalls damage its branding as a quality carmaker.


Only a week ago, Toyota recalled some 94,000 of its 2011 Sienna minivans in the United States to replace a brake bracket that could get stuck.

Source: SGGP

Banks get extra year to raise charter capital

In Uncategorized on December 16, 2010 at 9:32 am




Banks get extra year to raise charter capital


QĐND – Wednesday, December 15, 2010, 21:6 (GMT+7)

Commercial banks have one more year to comply with stricter new minimum capital requirements.

The Prime Minister on Dec.4 set a new deadline of December 31, 2011, for banks to comply with the requirement that they maintain a minimum charter capital of 3 trillion VND (141.71 million USD).

He has instructed the State Bank of Vietnam to work with related agencies to amend Decree No 141, which sets the deadline at the end of this month.

The State Bank had earlier vowed that the deadline was hard-and-fast, since banks had had four years to prepare for compliance, and warned that banks failing to meet the deadline would face closure or forced merger or acquisition.

However, the process of increasing charter capital had been complicated for many banks by the global financial crisis, the withdrawal of investment by State shareholders, and a gloomy domestic securities market, said the head of the State Bank’s supervisory and inspection department, Duong Quoc Anh.

“The fact that the Government has discouraged State-owned economic groups from investing in non-core business lines and instructed these groups to revoke such investments has caused big trouble for a number of financial institutions,” Anh wrote on the State Bank website.

State-owned garment maker Vinatex, for instance, recently sold an 11-percent interest in Navibank, one of the banks unable to meet the new requirements.

In prior proposals to the Government, the central bank had insisted on the higher charter capital requirements in order to improve the security and capacity of the nation’s banking system.

By the end of October, 22 commercial banks not yet in compliance had received State Bank approval to increase registered capital from an average of nearly 1.6 trillion VND (75.57 million USD) to an average of 3.5 trillion VND (165.32 million USD). Eleven of these banks had received State Securities Commission approval to raise additional funds by offering shares.

The State Bank has previously extended deadlines for commercial banks to meet higher capital requirements. Commercial banks were required by law to register capital of at least 1 trillion VND(52 million USD) by the end of 2008, but only 28 banks had met the requirement by the deadline. Another 10 managed to meet it only as late as the end of 2009, with the central bank granting permission for the delayed compliance.

Source: VNA/ Photo: LDO


Source: QDND