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Inflation likely in remaining months of 2010

In Uncategorized on October 30, 2010 at 2:11 pm




Inflation likely in remaining months of 2010


QĐND – Saturday, October 30, 2010, 20:57 (GMT+7)

Economists and managers forecasted the risks of re-inflation in the remaining months of this year and now it has become a reality.


Many notable events took place in the last week of October including the hot issue of escalating prices at the National Assembly’s 9th session, problems with production and business operations of domestic enterprises and negative consequences of recent historic floods in the central region.


In addition, according to the General Statistics of Office (GSO), the Consumer Price Index (CPI) saw a strong rise of 1.05 percent in October compared to September. Experts say with this high level, the CPI in the past 10 months reached 7.58 percent (nearly the 8 percent set by the government for the entire year).


In theory, to curb the inflation rate at 8 percent this year, the CPI should be allowed to increase by 0.21 percent in the two remaining months. This figure means that combating inflation over 8 percent is very difficult and not feasible in the remaining months of 2010.


Economic experts attributed the increase to the foreign exchange rate, rising prices in the world markets and adjustment of prices for raw input materials such as iron, steel and gas, which will have an adverse impact on prices of goods in the remaining months of the year.


The increase in the foreign exchange rate for a series of essential imported goods will raise input costs for production and continue to drive the prices of goods up.


In October, there was also an increase in prices for 300 types of goods including milk (ranging from 8 to 10 percent), domestic confectionaries and cooking oil (2-3 percent), sugar (10 percent), imported confectionaries (5-7 percent), according to the Vietnam Supermarket Association.


After October, both managers and consumers will feel the heat of potential escalating prices for many goods in the next months. This is expected to become worse due to fluctuations in the domestic gold market and the rise of the US dollar in recent weeks.


High inflation in October and prediction of rising prices in the remaining months of this year indicate that monetary policies will continue to be tightened. Banking and economic experts say that banks will find it difficult to reduce interest rates while inflation rate continues to rise.


Relevant agencies, ministries and businesses also find it themselves difficult to curb inflation if interest rates decrease. If interest rates remain high, businesses will also have to face high input costs for production. As a result, the price of goods will increase, especially in the remaining months of this year while the consumer demands are predicted to be great. This poses a challenge to stabilize prices of goods in the local market.


In general, economic experts said that inflation cannot be curbed only by stabilizing prices in the market. It is necessary to solve thorny problems in the macro-economy such as budget overspending, high import surplus, the trade deficit, a reduction in foreign currency reserves, high interest rates on loans, and lack of synchronized policies.


Source: VOV


Source: QDND

Ha Long Bay likely to win, director of New7Wonder

In Uncategorized on October 14, 2010 at 2:46 pm

Defeating 440 competitors in the vote for the seven natural wonders of the world, Ha Long Bay, has been voted in the list of 28 and likely to win in the list of new seven wonders, said Jean-Paul de la Fuente, director of the New7Wonder during a current visit to Vietnam.

A view of Ha Long Bay in the northern province of Quang Ninh

Reporter: Is there any difference between the final round, to vote for seven natural wonders of the world, and previous rounds, sir?


Jean-Paul de la Fuente: Previously, people could only vote through emails for the whole seven wonders. At the final round, they can vote for only one wonder through SMS or phone calls.


Could you predict the winning capacity of Ha Long Bay?


I could not predict the future. However, I thought that the opportunity for Ha Long Bay is very high, it depends on the vote of each Vietnamese.


After winning in the vote, will the seven wonders follow some certain regulations, sir?


Each competition has it own regulations and the New7Wonder is not in exception. However, these regulations mainly aim to encourage wonder protection. For instance, to the seven man-made wonders of the world voted in 2007, the NewOpenWorld, organizer of New7Wonder, will send inspectors to there in 2012. In case that they uncover that the wonders are changed or severely downgraded, affecting to their images as well as natures, the organization will host a vote to seek for new wonders.

Source: SGGP

September CPI likely to increase by one percent

In Uncategorized on October 13, 2010 at 7:51 am

Vietnam’s consumer price index (CPI) of September will rise by one percent above August, according to the prediction of statistics experts.

Shoppers at a supermarket in HCMC (Photo: SGGP)

CPI in the two biggest cities saw a month-on-month increase in this month, with Ho Chi Minh City’s CPI inched up by 0.96 percent while Hanoi saw it rose by 0.97 percent.


The increase has been the result of recent price hikes in rice, foods, steel and school fees.


Increased purchase of rice by local exporters has pushed up the price of rice in southern provinces.
 
The domestic steel price has climbed by VND150-300 per kilogram due to a hike in the global steel ingot price. 
 
The increase has also been attributed to a 2.09 percent downward adjustment of the dong/dollar exchange rate by the State Bank of Vietnam in August.
 
Following the new rate, many gas, steel and drug stores have raised their prices.
 
However, the biggest price increase has been seen in education, soaring 5.57 percent and 7.17 percent in HCMC and Hanoi respectively as all schools reopen after the summer vacation, pushing demands for books, stationary and clothes.

Source: SGGP

Ha Long Bay likely to win, director of New7Wonder

In Uncategorized on October 13, 2010 at 3:59 am




Ha Long Bay likely to win, director of New7Wonder


QĐND – Sunday, October 10, 2010, 20:48 (GMT+7)

Defeating 440 competitors in the vote for the seven natural wonders of the world, Ha Long Bay, has been voted in the list of 28 and likely to win in the list of new seven wonders, said Jean-Paul de la Fuente, director of the New7Wonder during a current visit in Vietnam.


Reporter: Is there any difference between the final round, to vote for seven natural wonders of the world, and previous rounds, sir?


Jean-Paul de la Fuente: Previously, people could only vote through emails for the whole seven wonders. At the final round, they can vote for only one wonder through SMS or phone calls.


Could you predict the winning capacity of Ha Long Bay?


I could not predict the future. However, I thought that the opportunity for Ha Long Bay is very high, it depends on the vote of each Vietnamese.


After winning in the vote, will the seven wonders follow some certain regulations, sir?


Each competition has it own regulations and the New7Wonder is not in exception. However, these regulations mainly aim to encourage wonder protection. For instance, to the seven man-made wonders of the world voted in 2007, the NewOpenWorld, organizer of New7Wonder, will send inspectors to there in 2012. In case that they uncover that the wonders are changed or severely downgraded, affecting to their images as well as natures, the organization will host a vote to seek for new wonders.


Source: SGGP


Source: QDND

A/H1N1 epidemic likely to recur in winter

In Uncategorized on August 7, 2010 at 3:20 pm




A/H1N1 epidemic likely to recur in winter


QĐND – Saturday, August 07, 2010, 22:5 (GMT+7)

Several positive cases of A/H1N1 influenza have been confirmed in Vietnam after four months of complete containment, and epidemiologists fear an epidemic is likely to break out this coming winter.


Epidemiologists issued warnings after this deadly virus killed a 6-year-old girl in HCM City on August 3.


In an interview granted to Tin Tuc (News Bulletin) on August 7, Nguyen Tran Hien, director of the National Institute of Hygiene and Epidemiology, said several countries in the world are experiencing an outbreak of the A/H1N1 epidemic, and he did not rule out the possibility that it would strike Vietnam again this winter.


“It’s difficult to jump to conclusions that the A/H1N1 epidemic would only be a normal seasonal influenza or break out in a more severe manner,” said Mr Hien. “We must keep a close watch on the development of the epidemic and be well prepared for emergencies.”


Mr Hien quoted the World Health Organisation as saying by July 30 as many as 214 countries and territories have confirmed the A/H1N1 virus in their areas, with 18,398 deaths. The virus has been spreading here and there at a low level, and there is not enough proof that the A/H1N1 epidemic has become a seasonal influenza.


As of July 18, Vietnam had reported no new cases of A/H1N1 since the first was detected on May 31, 2009, but four positive cases were recently confirmed in HCM City, Dong Nai and Tien Giang provinces, and a girl died of the disease on August 3.


About 80 percent of global deaths are chronic patients, pregnant women and children.


“This does not mean people should be apathetic about the disease because nobody knows exactly when a second outbreak will occur,” warned Mr Hien.


He advised people in high-risk groups such as pregnant women patients with chronic diseases such as pneumonia, heart disease, diabetes, digestive disorders, and obesity, to have regular check-ups at hospitals. Suspected cases are encouraged to go to the nearest medical centre for examinations and consultations if they have breathing difficulties, a high temperature and coughing.


Source: VOV


Source: QDND

Sony likely bounced to black in first quarter: report

In Uncategorized on July 26, 2010 at 3:19 pm

TOKYO, July 26, 2010 (AFP) – Japan’s Sony is likely to have swung back to the black in the first quarter with operating profit reaching 30 billion yen (342 million dollars) due to aggressive cost-cutting, a report said Monday.


That would compare with a 25.7-billion-yen loss in the same April-June period last year and represent the first profit in two quarters, the Nikkei business daily reported ahead of official results on Thursday.


Under chief executive and president Howard Stringer, the Japanese company has been streamlining operations and cutting costs to trim back the sprawling group, which was battered by the global downturn.


Plant consolidation and lay-offs saved the company more than 300 billion yen the previous fiscal year, making the company more resilient to blows such as the yen’s recent rise against the euro, the Nikkei said.


Rebounding demand from China and other emerging companies helped lift sales of digital cameras, personal computers and video cameras, the report said.


Liquid crystal display televisions also sold well, and Sony’s game and mobile phone divisions returned to profitability thanks to cost savings.


Stringer has promised to reinvent Sony — the maker of the iconic Walkman — and the group is revving up for the year-end holidays with the September launch of the “Move” motion-sensing controller for PlayStation 3.


The company is also banking on the mounting popularity of products that enable three dimensional viewing.


In April it released a software update enabling the PS3 to support 3D games. Televisions showing 3D images went on sale in Japan last month.


Sony has also released a 3D camera and its film studio Sony Pictures is rolling out 3D movies.


Shares in Sony were up 1.19 percent at 2,543 yen at noon in Tokyo.

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Source: SGGP

Dalat City likely to become low-carbon model town

In Uncategorized on July 26, 2010 at 3:19 pm




Dalat City likely to become low-carbon model town


QĐND – Monday, July 26, 2010, 21:37 (GMT+7)

The hilly resort city of Dalat in Lam Dong Province will likely be selected as a low-carbon model town by the Asia-Pacific Economic Cooperation (APEC) community, said an official of Asia Pacific Energy Research Center.


Weerawat Chantanakome, senior team leader of the center, told the Daily on the sidelines of an energy forum held in Dalat on Tuesday that Tianjing City of China will be the first city to be selected as a low-carbon model town by late this year. 


“…and Dalat City in Vietnam also has many characteristics to be possibly selected as one of the low-carbon towns in APEC communities in the future,” he said. 


He explained that an APEC low-carbon model town project is being executed to encourage the creation of low-carbon communities in urban development plans and to share best practices for making such communities a reality. 


Chantanakome said a feasibility study for the project to select low-carbon model towns among APEC is being conducted between 2010 and 2012 with total budget of some US$500,000. Then, the project will be widely implemented within the next five years, 2012 to 2017. 


“We are working to finalize criteria for selecting low-carbon model towns among APEC, and I think Dalat is more possible to become a low-carbon model town because it does not have many skyscrapers, not so many high technologies,” he said. 


APEC has 21 members spanning in four continents, including the most advanced economies like the United States, Japan, and economies in Southeast Asia like Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. 


He said the low-carbon model town project was mentioned in a declaration of APEC’s energy ministers June this year for the regional cooperation on low-carbon paths to energy security, focusing on cooperative energy solutions for a sustainable community. 


On the sidelines of the energy forum on Tuesday, the Daily also talked to some scientists about the targeted renewable energy development among ASEAN countries in the future. 


Weerawat Chantanakome of the Asia Pacific Energy Research Center said that ASEAN members aimed at using 15% of renewable energy by 2015 compared to the present ratio of around 10%. 


To do so, “we need to increase the ratio by at least one percentage point per year,” he said. 


Meanwhile, Pham Khanh Toan, Head of Vietnam Energy Institute, said that Vietnam still needs more favorable mechanisms to develop renewable energy. 


Although ASEAN aims high for renewable energy, renewable energy in use in Vietnam still accounts for less than 3%, so it should be feasible for Vietnam to reach around 10% by 2015, he said. 


Cao Hung Cuong, manager of CDM Project Department of PetroVietnam Finance Corporation, said that the development of clean energy projects in Vietnam such as hydropower, wind, and solar power among others should be further promoted. 


However, Cuong was concerned that the pricing policy for electricity from CDM projects did not encourage the development of such projects in the country.


Source: VietNamNet/SGT


Source: QDND

Teacher shortages likely to scupper new English classes

In Uncategorized on June 18, 2010 at 4:23 am

The national plan to require at least 20 percent of third graders to study English is feasible in some areas, but mandating a higher percentage in later years will be difficult to achieve, administrators said.

The national plan to require at least 20 percent of third graders to study English is feasible in some areas because of lacking English-language teachers. (Photo: Mai Hai/SGGP)

According to the Ministry of Education and Training, the plan will be implemented this upcoming school year, and in the 2015-16 academic year, the ratio will grow to 70 percent, and in 2018-19, to 100 percent of all third graders.


Third graders will be required to take four English sessions per week.


Le Ngoc Diep, head of the HCM City Department of Education and Training’s Primary Education Office, said the city could reach the rate of 20 percent of third graders in the 2010-11 school year.


Howeve, achieving a 70 percent rate in 2015-2016 and 100 percent in 2018-19 will be unrealistic because there will be not enough English-language teachers.


Le Minh Hoang, head of the Department of Education and Training in Dong Nai Province , said that primary schools there face a shortage of English teachers and will find it difficult to fill posts.


Province authorities said that this year they will allow the department to transfer English teachers who work at secondary schools to primary schools. But this would solve the shortage in the province’s central areas only.


Tran Trong Khiem, head of the Department of Education and Training in Can Tho City, said many English teachers had quit their posts for a variety of reasons, including low salaries.


Diep said schools faced other problems, including finding more classrooms and space for the new compulsory English sessions. The maximum number of students in each class is 35.

Source: SGGP

Accidental injuries likely to increase among children

In Uncategorized on June 6, 2010 at 2:23 pm




Accidental injuries likely to increase among children


QĐND – Sunday, June 06, 2010, 21:0 (GMT+7)

More than 20 Vietnamese children are killed in accidents every day and many of them suffer serious disabilities or permanent psychological wounds.


Injuries from accidents among children have become a public health concern and a leading cause of child fatalities in Vietnam. Therefore, preventing children from being injured in accidents is an urgent task to protect children’s health and reduce the heavy burden of disability for families and society.


Many children have drowned while going on holiday this summer. Most recently, a group of six pupils in Ky Tien commune, Ky Anh district, of Nghe An province were drowned at sea on May 29 because they could not swim.


The same day, two pupils in Phuoc An commune, Nhon Trach district of Dong Nai province also died from drowning.


According to doctor Le Viet Phai, head of the rehabilitation department of the orthopedic and rehabilitation hospital, accidental injuries to children leave serious consequences both physically and spiritually. Many children injured in accidents suffer severe deformities and find it hard to reintegrate into the community, becoming a heavy burden for their families and society.


According to the Ministry of Labour, Invalids and Social Affairs (MOLISA), there has been an increasing number of accidents involving children. In 2007 alone, more than 7,890 Vietnamese children under 19 were killed in accidents. The main causes of death were drowning, traffic accidents, burns, choking and animal bites, with drowning being most common, especially during the monsoon and flood season.


Injuries from accidents are more likely to occur in rural areas than in urban areas and poverty is also a contributory factor.


According to Tran Van Dien, Deputy Head of the Child Care and Protection Office in Dong Thap province, one of the reasons for the growing number of child injuries from accidents is due to the lack of timely information and proper measures to prevent accidents among children.


In addition, local funds for such communications are limited and local authorities do not give a full report on accidents. There is also a shortage of collaborators as each commune currently has only one person to monitor the situation.          


Nguyen Trong An, Deputy Director of the Child Care and Protection Department, under the MOLISA, said it’s necessary to have closer coordination between governmental agencies, organisations, families and schools in educating, training and increasing people’s awareness of child protection.


It’s important to change the attitude of local authorities towards accidental injuries among children. Mr. An emphasised that the department is developing an action plan for children in the next ten years (2011-2020) with a view to reducing child injuries, which is closely associated with other targets for socio-economic development.


Accidental Injuries are not only the leading cause of death among children but they also lead to numerous disabilities and long-term psychological wounds. Preventing child injuries from accidents is both the responsibility of and a token of affection from families and society for the future of the country so that children can live, study and play in safe houses, schools and communities.


Source: VOV


Source: QDND

Japan PM quits, Finance Minister likely successor

In Uncategorized on June 3, 2010 at 10:13 am

Japan’s Finance Minister Naoto Kan emerged Thursday as the leading candidate to replace Prime Minister Yukio Hatoyama, who resigned over a US base dispute and political funding scandals.


Kan, 63, who is a deputy prime minister, has declared his intention to stand for the party leadership in a vote on Friday, while other potential candidates, including Foreign Minister Katsuya Okada, have yet to make an announcement.


The mass-circulation Yomiuri Shimbun reported that support for Kan was widening in the ruling Democratic Party of Japan (DPJ), while the Tokyo Shimbun said Kan’s victory was certain and may be decided without contest.


Following Friday’s party election, Hatoyama’s successor must be voted in by parliament, where the DPJ maintains a solid majority in the powerful lower house. Local media said a new cabinet may now be launched as early as Friday.

Japan’s Finance Minister Naoto Kan has emerged as the leading candidate to replace Prime Minister Yukio Hatoyama, who resigned over a US base dispute and political funding scandals.

Hatoyama quit on Wednesday after just eight months in office, ending a term that started with last year’s stunning election victory in which his centre-left party ended an almost unbroken half-century of conservative rule.


Hatoyama’s support plummeted after he backtracked on a promise to move an unpopular US airbase off the southern island of Okinawa, enraging people there, as well as the pacifist Social Democrats, who quit the ruling coalition.


The left-leaning group left the three-party coalition on Sunday, weakening the government in parliament’s upper house ahead of elections for the chamber slated for July 11, in which the DPJ expects to take a beating.


Support built quickly for Kan, a former grassroots civic activist who achieved popularity in the mid-1990s when as health minister he admitted government culpability in a scandal over HIV-tainted blood products.


Kan has served as deputy prime minister and, since January, as finance minister, pushing for spending cuts and tax increases to contain Japan’s ballooning public debt, which is nearing 200 percent of GDP.


Transport Minister Seiji Maehara, another potential successor to Hatoyama, said he was still considering his candidacy. “It is important to make the DPJ a party which is clean and has the spirit of reform,” Maehara said.


The DPJ’s most influential figure, secretary general Ichiro Ozawa, also quit on Wednesday after Hatoyama asked him to step down. Both men have been embroiled in political funding scandals.


But Ozawa, described as the “Shadow Shogun” for his power behind the throne, still maintains considerable influence as he controls the biggest faction in the party, including scores of newcomers elected last year

Source: SGGP