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Posts Tagged ‘falls’

Euro falls as Irish credit rating cut

In Uncategorized on December 20, 2010 at 6:27 am

TOKYO, Dec 20, 2010 (AFP) – The euro fell against other currencies in Asia on Monday on worries over the eurozone’s public finances after Moody’s slashed debt-stricken Ireland’s credit rating, analysts said.

The euro fell to 1.3154 from 1.3185 dollars in New York late Friday and to 110.35 yen from 110.78 yen. The dollar firmed to 84.00 yen from 83.94 yen.

Moody’s Investors Service on Friday cut its credit rating on Ireland by five notches, citing uncertainties over the country’s economy and public finances.

It came a day after European leaders agreed at a Brussels summit to set up a permanent financial stability mechanism from 2013 to shore up the euro amid fears Portugal and Spain may need bailouts after Irish and Greek rescues.

But there was no decision to increase its size beyond the bloc’s temporary 750 billion euro fund or allow it to purchase government bonds, or introduce a common European bond, John Kyriakopoulos of National Australian Bank noted.

“As such, European sovereign debt concerns are likely to linger into the New Year,” he wrote in a note, adding investors needed to watch European bank funding costs.

The failure to enlarge the size of the bailout fund was disappointing “given worries that it is insufficient to cope with the bailout of larger eurozone countries if needed,” said Frances Cheung at Credit Agricole CIB.

The South Korean won fell after South Korea ordered civilians on five border islands to take shelter ahead of a live-fire exercise Monday despite North Korean threats of deadly retaliation.

The unit extended its early losses against the safe-haven US dollar, which in morning trade fetched 1,167.40 won from 1,163.40 earlier.

But the news hardly moved dollar-yen rates with the yen also drawing buying as a safe currency, analysts said.

Source: SGGP

Spotlight falls on ethnic minorities

In Uncategorized on December 16, 2010 at 2:28 pm

Spotlight falls on ethnic minorities

QĐND – Thursday, December 16, 2010, 21:3 (GMT+7)

Concrete and appropriate policies are needed to ensure ethnic minorities participate fully in the nation’s economy, said Be Truong Thanh, vice standing chairman of the Committee for Ethnic Minority Affairs at the third two-day session of the UN forum in Geneva , which ended on Dec. 15.

He said ethnic groups should be classified according to their geographical location – such as mountainous or delta – and their socio-economic development level, in order to implement appropriate policies.

He said the Government had been carrying out a number of programmes designed to meet the needs of specific ethnic groups.

These programmes include the implementation of hunger elimination and poverty reduction in the extremely difficult areas in a bid to reduce the poverty level of households. He said Vietnam was implementing a rapid and sustainable poverty-reduction programme in more than 60 extremely difficult and poor districts in ethnic minority areas where the poor account for more than 50 percent of all households.

He also said the Government had begun upgrading and building new infrastructure in extremely difficult areas that included building new roads and improving irrigation channels.

Thanh said projects had been implemented to preserve the indigenous people’s culture.

Five ethnic groups with a population of less than 1,000 have been targeted. They include the Si La, Pu Peo, O Du, Ro Mam and Brau minorities. Further projects will be carried out targeting ethnic groups with a population of less than 10,000.

The Government is also planning to boost trade and tourism in mountainous and remote areas to boost local incomes.

Thanh said it was important to raise awareness among minority groups of the law so that their rights are protected.

He said the participation of local communities in implementing the Government’s programmes was essential. He said the State could provide the “fishing rod, but not the fish.”

He said that if the Government’s programmes were implemented successfully, minority groups would see a marked improvement in their standard of living.

Source: VNA

Source: QDND

Section of Hong River dyke falls into river

In Uncategorized on October 19, 2010 at 4:19 pm

A section of Hong River dyke dropped into the river in Phu Thinh Ward, Son Tay town, Hanoi this early morning, bringing about three factories and two excavators.

The landside occurring on Hong River dyke is not likely to be over after a 150 meters section falls into the river in Phu Thinh Ward, Son Tay town on Monday (Photo: Dan Tri)

The landslide section was about 150 meters in length and 90 meters in weight.

For safety, chairman of Hanoi People’s Committee Nguyen The Thao the same day ordered Son Tay town authorities to evacuate residents and their properties out of the landslide prone area, closely monitor and timely inform the landslide condition.

The Hanoi Department of Agriculture and Rural Development should immediately work with its ministry to do surveys, seek for reasons and give measures to handle the issue.

Source: SGGP

VN-Index falls to near 450 mark

In Uncategorized on October 14, 2010 at 6:32 pm

Movements of VN-Index on September 23. (Photo: increased disbursement as stocks on the Ho Chi Minh Stock Exchange tended to decline on September 23, helping liquidity on the trading floor to return to high level.

The VN-Index, a gauge of 256 companies and five mutual funds, shrank 0.69 percent, or 3.13 points, to finish at 450.77 points.

There were around 52.22 million shares changed hands at a value of VND1.43 trillion. Foreign investors boosted buying in blue-chip stocks, including PPC, HPG, FPT, DPM, BVH, SSI, and KDC, with an amount of 3.53 million shares worth VND118 billion.

There were 36 stocks that gained, 184 fell, while 42 were unmoved.

Although Ocean Group Joint Stock Company (OGC) was not in the priority list of foreign investors today, it continued to top the list of most active shares in volume with more than 3.99 million shares changing hands.

Investment and Trading of Real Estate Joint Stock Company (ITC) followed with 1.75 million shares, tagged along by Vietnam Export Import Commercial Joint Stock Bank (EIB) with 1.52 million shares traded.

Mtgas Joint Stock Company (MTG) and the newly listed company Petro Capital & Infrastructure Investment Joint Stock Company (PTL) were the biggest losers on the city bourse. Both plunged the daily maximum allowed limit of 5 percent to VND13,300, and VND19,000 respectively.

Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) dropped 4.96 percent to trade at VND23,000.

DESCON Construction Corporation (DCC) retreated for three consecutive days, contracting 4.94 percent to VND23,100.

Thien Nam Trading Import Export Corporation (TNA) rose 5 percent to VND31,500.

Sacombank Securities Joint Stock Company (SBS) climbed 4.78 percent to VND26,300. The company will issue 13.81 million shares at a ratio of 3:1 and at a price of VND15,000 per share to its current shareholders, not including its major shareholder Saigon Thuong Tin Commercial Bank.

From September 22 to October 22, Nguyen The Chuan, father of Nguyen Huy Cuong – deputy general director of Sacombank Securities Joint Stock Company (SBS), registered to sell all 91,500 shares to restructure his investment category.

Viet Nam Petroleum Transport Joint Stock Company (VIP) closed up 4.51 percent to VND13,900.

The Hanoi’s HNX-Index slashed 1.7 points, or 1.29 percent, to close at 129.83. Trading volume rebounded by 80 percent in volume and 34 percent by value to 36.7 million shares, worth VND879 billion.

The UPCoM-Index inched up 0.25 points to 46.96. Around 0.54 million shares were traded at VND6.6 billion as of 11:15 am local time.

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.

Source: SGGP

Liquidity falls to one-month low

In Uncategorized on August 6, 2010 at 11:21 am

Movements of VN-Index on August 6. (Photo:’s benchmark VN-Index declined for the third day in a row August 6, as the stock market did not find necessary support to prevent the index from falling.

The shares of 251 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange finished at 482.82 points, losing 0.7 percent, or 3.39 points.

Of the index, 53 stocks gained, 156 dropped, while 46 treaded water.

Liquidity on the city bourse severely fell to its lowest level in a month, 36.66 million shares, worth VND1.03 trillion.

Vinafco Joint Stock Corporation (VFC) was the most active stock by volume with 1.4 million shares changing hands. The company’s shares traded up 4.49 percent.

From July 26 to 29, Vietnam Investments Funds I.L.P, a major shareholder of VFC, sold 300,000 shares, reducing its holdings to 1,379,016 shares, accounting for 6.9 percent of VFC’s chartered capital.

From August 9 to September 30, Vietnam Investments Funds I, L.P, registered to sell 1 million shares, sending its holdings to 379,016 shares, restructuring investment category.

Transport company Thuan Thao Corporation (GTT), located in the coastal central province of Phu Yen, tagged along with 1.07 million shares.

It was followed by Thanh Cong Textile Garment Investment Trading Joint Stock Company, which closed down 4.95 percent to VND21,100 today, with more than 1 million shares traded.

Movements of VN-Index from August 2 to 6. (Photo:

Cadovimex Seafood Import-Export and Processing Joint Stock Company (CAD), which contracted 7.26 percent to VND11,500, was the biggest loser on southern market. The company will issue 800,000 bonus shares to its current shareholders at a ratio of 10:1.

Petroleum Equipment Assembly and Metal Structure Joint Stock Company (PXS) gave up 4.96 percent to VND23,000. The company announced its net profits for the first six months of the year to be VND21.68 billion, which satisfies 64 percent of this year’s goal; the company’s profits for the second quarter reached VND16.83 billion.

Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FDC) and South Vietnam Container Shipping Joint Stock Company (VSG) both edged down 4.84 percent to VND41,300, and VND11,800 respectively.

From August 9 to October 8, Do Hoang Hai, father of Do Le Hong Chau – member of FDC’s Board of Directors, registered to buy 151,000 shares and sell 112,000 shares, sending his holdings to 816,605 shares, restructuring his investment category.

In the same period, Tran Lan Thao Nguyen, daughter of Tran Huu Chinh – chairman of FDC, registered to sell 100,000 shares, and buy 120,000 shares to restructure her investment category. Her holdings will be at 132,145 shares after the transaction.

Hapaco Group Joint Stock Company (HAP) advanced 4.89 percent to VND19,300.

Information and Networking Technology Joint Stock Company (CMT) curbed its eight-consecutive-trading-session losing streak, rising 4.8 percent to VND34,900.

Meca Vneco Investment and Electricity Construction Joint Stock Company (VES) added up 4.7 percent to VND31,200.

Hanoi’s HNX-Index slashed 1.31 points, or 0.89 percent, to close at 146.14. Trading volume dropped to 27.53 million shares, valued at approximately VND738.48 billion.

The UPCoM-Index also dipped 0.83 points to 50.41 as of 11 am local time. A total of 193,910 shares changed hands at VND2.99 billion.

Source: SGGP

Southern birth rate falls 2.8 percent in first six months

In Uncategorized on July 2, 2010 at 6:19 pm

Southern birth rate falls 2.8 percent in first six months

QĐND – Friday, July 02, 2010, 21:53 (GMT+7)

The birth rate in southern provinces reduced by 2.8 percent during the first six months this year, reports the Ministry of Health’s General Department of Population and Family Planning.

The total number of children born during the first half of this year was reported at 538,280, a reduction of 2.8 percent against the same period las year, Tran Mai Hoa, deputy head of the general office, said at the July 1 online meeting to review population planning during the past six months and map out future plans.

About 23 provinces have a higher birth rate compared with the same period of 2009.

Nguyen Ba Thuy, Deputy Minister of Health, said at the conference 24 of 63 provinces and cities haven’t assigned population officers to commune level.

Birth rates reduced sharply, about 1.8 children for each woman, in localities including HCM City, Tien Giang, Binh Thuan, An Giang, and Ca Mau. The nember of third children went down by 2,323 or four percent during the period.

Source: VNA

Source: QDND

Last of collapsed Highway 91 section falls into river

In Uncategorized on March 24, 2010 at 3:20 pm

The remainder of a 70-meter long section of Highway 91 in An Giang Province, which collapsed into the Hau River on March 22, has now also fallen into the water.

Residents living along Highway 91 in Binh My Commune, Chau Phu District, An Giang Province evacuate their homes after a section of the roadway suddenly fell into the Hau River March 22-23 (Photo: SGGP)

A severe landslide occurred on March 22, narrowing the road’s surface from 11 meters wide earlier, to just one meter. On the afternoon of March 23, the last of the section fell away, forcing all vehicles to travel along other routes to the southwest border of Vietnam.

Officials have fenced off two sides of the damaged road to prevent people and vehicles from traveling through.

Hundreds of people including workers from the Road Management Zone 7 and reserve army forces have been mobilized to help evacuate over 100 households living along 370 meters of the highway and 60 meters inland from where the collapse occurred.

Facing the same situation, resident Bui Trung Tin said that he saved for many years to build a new home, which he lived in for just one year, and was heartbroken to see it being torn down to make room for the new detour road.

All he can do now is waiting for assistance from local authorities, he said.

Nguyen Van Tuoi, deputy chairman of the Chau Phu District People’s Committee said that several measures have been proposed to help the evacuated residents relocate.

Under one proposal, each household would receive compensation for their property and VND40 million (US$2,000) to resettle elsewhere, he said.

A second proposal suggests that authorities help residents move to nearby Binh Thuy Commune or near Cay Duong Market in Binh My Commune, 500 meters from where the landslide occurred.

After clearing the site, officials will meet with residents to choose the best relocation solution.

Vehicles forced to detour

Highway 91 is the main road for travel from HCMC, Can Tho City, Kien Giang and Long Xuyen provinces to the southwest border districts of An Giang like Chau Doc, Tinh Bien and An Phu.

Officials have been directing thousands of vehicles traveling on the highway to Chau Doc District to take alternative routes.

Small vehicles can also take an old route via the Nang Gu Ferry.

Large vehicles have been advised to take provincial road 941, 50 kilometers farther to Chau Doc District than if traveling on Highway 91.

Road 941 is also more dangerous and narrow with many severely downgraded bridges that can only accommodate 8-10 ton vehicles.

Nguyen Thanh Tam, director of An Giang Province’s Department of Transport said that despite the increased risk, his department could do nothing to stop vehicles from traveling on road 941.

To ensure safety, he said the department has mobilized traffic inspectors and police to closely monitor vehicles along the road, especially at weak bridges to prevent overloaded busses and trucks from passing through.

Highway out for 3 days minimum

At a meeting between the An Giang Province People’s Committee, Road Management Zone 7, and relevant authorities on March 23, officials agreed to complete site clearance to open a detour next to the landslide site by March 26.

The Road Management Zone 7 earlier planned to build a 180-meter long iron bridge so that small vehicles could travel through the area.

However, according to a survey by the provincial Department of Natural Resources and Environment, this is not feasible as an additional 400 meters of the riverbank are still in danger of collapsing into the Hau River.

The only suitable measure thus far has been to clear away residents’ homes in the area to re-connect the highway.

According to authorities, the highway section fell away due to land erosion caused by three river eddies, measuring 18-20 meters deep.

The Department of Natural Resources and Environment has said it will carry out research into preventing the eddies from causing further damage.

Related article:
Mekong Delta highway section collapses into river

Source: SGGP Bookmark & Share

Australian Open: Angry Soderling falls in first round

In Vietnam Sports on January 19, 2010 at 2:39 pm

MELBOURNE, Jan 19, 2010 (AFP) – Swedish eighth seed Robin Soderling was fuming after he became the first top-10 casualty of the Australian Open, bowing out in the first round on Tuesday.

The 25-year-old looked on target for an easy win after he took the first two sets, but eventually lost to Spain’s 113th-ranked Marcel Granollers 5-7, 2-6, 6-4, 6-4, 6-2.

(Files) Robin Soderling (R) speaks during a press conference for the Kooyong Classic tournament in Melbourne on January 12, 2010 (AFP photo)

Soderling made 67 unforced errors and was scathing in his assessment of his performance.

“No, I started terrible and finished terrible,” he said bluntly when it was suggested things were going well early in the match.

“I played a horrible match today and I am terribly disappointed.

“I didn’t feel good at all and I didn’t play well.”

Although the fragile Swede, who has won four ATP titles, pulled out of the AAMI Classic last week because of elbow tendonitis, he said he was 100 percent fit and that the loss had nothing to do with any injury.

Soderling said his frustration had nothing to do with his good form in 2009.

“I would have been annoyed even if I didn’t play well last year,” he said.

It was the third Grand Slam in a row where Soderling had faced Granollers, who is something of a doubles specialist, but the Spaniard’s first ever win over the Swede.

Soderling played the 23-year-old three times last year, including the US Open and Wimbledon, winning all three matches convincingly and dropping just one set to Granollers in those matches.

Tuesday’s loss continues a tough start to the year for last year’s French Open finalist, having lost in the first round in Chennai and now here.

Source: SGGP Bookmark & Share

World air travel falls record 3.1% in 2009

In World on December 20, 2009 at 4:38 am

MONTREAL, Dec. 19 (AFP) – World airline passenger traffic fell 3.1 percent in 2009, the biggest drop in aviation industry history, fueled by the global financial downturn, the International Civil Aviation Organization said.

Passengers check flight schedules at Roissy-Charles de Gaulle airport (AFP file)

Preliminary figures for airline travel this year showed that international traffic declined by about 3.9 percent and domestic traffic by 1.8 percent, despite sharp growth in some regions.

Total passenger traffic — both domestic and international — fell in all regions except the Middle East, which posted 10 percent growth. All other regions recorded negative growth, with Africa hardest hit at minus 9.6 percent overall, the ICAO said.

The 3.1 percent drop in passenger traffic this year compared to 2008 was the largest on record for the industry and “reflects the one percent drop in the world gross domestic product for the year,” the organization said in a statement.

“The double-digit domestic passenger traffic growth in the emerging markets of Asia and Latin America, and the relative strong performance of low cost carriers in North America, Europe and Asia Pacific helped curtail the decline in total traffic.”

The ICAO predicted a moderate recovery of 3.3 percent growth for the airline industry next year, in line with improving economic conditions around the world.

For 2011, it forecast momentum to build to return to the traditional 5.5 percent yearly growth rate in airline passenger traffic.

Source: SGGP Bookmark & Share