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It’s not a good time to buy gold now, experts say

In Uncategorized on December 16, 2010 at 10:04 am

Gold traders were hesitate on investing more in the precious metal as the physical gold carried high risk of losses in the last two weeks, analysts said.

(Photo:thanhniennews)

The global gold price’s trading band fluctuated in low rates last week, closing at US$1,350 per ounce. The local price meanwhile remained unchanged at VND36 million per tael.


The gap was narrowed on the fact that Vietnam’s central bank has granted more quotas to import gold by year-end, in a bid to cool domestic gold prices and interest rate jumped to 16-18 percent per annum.


Gold experts expect the global gold price will reach the resistance level of $1,424 per ounce as it closed at $1,410 per ounce last weekend.


They also recommended that gold was overbought, so investors should be cautious in restructuring their investment portfolio.


Local gold price remained around VND300,00-400,000 higher than the global one. However, the local price will likely to retreat on imported gold tax rate of zero percent, interest rate of 16 percent per year and the recover of the stock market.


Gold traders expect the global price will make corrections this month, which is the festival season at many foreign countries around the world.


Experts also predicted that the yellow metal will remain the best asset class with high profit rate in the upcoming time as the global gold price will likely to hit the level of $1,600 per ounce.


Global gold on a rise
The global gold price opened at $,353-1,357 per ounce and closed higher at $1,414 per ounce last week on a job report. Statistics showed the number of non-agriculture jobs last month increased only 39,000, much lower than the expectation of 140,000-155,000 jobs, while unemployed rate rose unexpectedly to 9.8 percent.


Gold steadied on Monday after rising nearly 2 percent in the previous session to above $1,400 an ounce, with a struggling U.S. dollar that pushed silver to its highest since early 1980 likely to spur more buying from investors, according to Reuters.


Any signs of a weaker U.S. economy or heightened tensions between the two Koreas could also bolster gold, while worries about euro zone sovereign debt remain on investor minds.
South Korea started live-fire naval exercise on Monday, despite Pyongyang’s warnings against conducting the drills in disputed waters off the west coast of the peninsula.


Spot gold rose to $2.15 an ounce to $1,416.50 by 0709 GMT, having hit a low around $1,408. Gold had risen as high as $1,415.36 on Friday as the dollar tumbled following disappointing jobs data in November.


Bullion hit a record high around $1,424 an ounce in November.

Source: SGGP

Pupils of 322 schools in Lam Dong Province now have Internet access

In Uncategorized on December 16, 2010 at 9:30 am




Pupils of 322 schools in Lam Dong Province now have Internet access


QĐND – Tuesday, December 14, 2010, 20:20 (GMT+7)

PANO – 322 out of 326 schools in Lam Dong province have been connected with broadband internet access, achieving 99% of the goal of the program of “Internet for School-Investment for the Future”.


The figure was released in a ceremony to review this program held on December 13th in Dalat City by Viettel Group and the Lam Dong Provincial People’s Committee.


At the ceremony, Pham Quang Da, Director of Viettel’s branch in Lam Dong, said it was very difficult to facilitate internet access in schools in a province where 90% of its territory was forest and mountains. Thus, Viettel needed to bring internet connections to schools into life and make them effective in education and training. Viettel also pledged to ensure free internet access to those schools.


On this occasion, the Director and the Head of Lam Dong Department of Education and Training also signed a minute on completing this three-year program.


Translated by Mai Huong


Source: QDND

Best Time to See the Leonid Meteor Shower Is Now

In Uncategorized on November 18, 2010 at 7:25 am

Vietnam now has nearly 12,000 FDI projects

In Uncategorized on August 18, 2010 at 3:24 pm




Vietnam now has nearly 12,000 FDI projects


QĐND – Wednesday, August 18, 2010, 21:12 (GMT+7)

Vietnam has 11,807 foreign invested projects (FDI) with a total registered capital of US$188.4 billion, according to the Foreign Investment Agency under the Ministry of Planning and Investment.  


HCM City attracts most of the FDI projects with a total capitalization of US$28.7 billion, followed by Ba Ria-Vung Tau with nearly US$26 billion. Hanoi makes up 25.49 percent of the total projects and 17.6 percent of registered capital.


Four south-eastern provinces host 60.14 percent of total projects valued at 51.66 percent of registered capital, while the north-western region makes up barely 0.34 percent of the total projects and 0.11 percent of registered capital.


Currently, 91 countries and territories have invested in Vietnam. The Republic of Korea takes the lead with 2,570 projects capitalised at US$23 billion.


Source: VOV


Source: QDND

Gulf of Mexico now worst accidental spill on record

In Uncategorized on July 3, 2010 at 4:07 pm

NEW ORLEANS, Louisiana (AFP) – A Taiwanese supertanker skimmed oil from the Gulf of Mexico Saturday as the months-long disaster became the worst accidental spill on record.

Oil cleanup workers try to remove thick oil that washed ashore in Gulfport, Mississippi. AFP

Rough seas and strong winds continued to delay clean-up efforts, displace protective booms and push the oil deeper into fragile coastal wetlands, endangering wildlife preserves and the thousands of birds nesting there.


“This is going to be a very long and arduous clean-up operation in the days to come,” said Coast Guard Admiral Paul Zukunft.


“I’m especially concerned with some of the wildlife habitats.”


An estimated 35,000 to 60,000 barrels of oil per day has been gushing out of the ruptured well since the BP-leased Deepwater Horizon drilling rig sank on April 22, some 50 miles (80 kilometers) off the coast of Louisiana.


A containment system has captured about 557,000 barrels of oil, but rough seas have delayed the deployment of a third vessel which is set to increase capacity from 25,000 barrels to 53,000 barrels a day.


That means an estimated 1.9 to 3.6 million barrels — or 79.5 to 153 million gallons — of oil has now gushed into the Gulf.


Using the high end of that estimate, the spill has now surpassed the 1979 Ixtoc blowout which took nine months to cap and dumped an estimated 3.3 million barrels (140,000 million gallons) into the Gulf of Mexico.


It is topped only by the deliberate release of six to eight million barrels of crude by Iraqi troops who destroyed tankers and oil terminals and set wells ablaze in Kuwait during the 1991 Gulf War.


And it will likely be mid-August at the earliest before the Gulf well is permanently capped by injecting mud and cement with the aid of relief wells.


The Taiwanese supertanker dubbed “A Whale” could radically increase the amount of oil crews are able to recover.


“It ingests oil and oily water and then separates out the oil and expels the water,” BP spokesman Toby Odone told AFP.


The giant ship, which has cuts in its sides, is some 300 yards (275 meters) long and can suck up 21 million gallons of oily water a day.


The small skimming boats which have been patrolling the Gulf for the past 10 weeks have only collected 28.2 million gallons of oily water to date.


The tanker began initial skimming operations Friday, with crews testing whether it could safely handle and dispose of the oil, but it will take several days before a final deployment decision is made, Odone said.


Rough seas caused by the first hurricane of the Atlantic season have kept the thousands of ships hired to skim oil, lay boom, carry out controlled burns, and move equipment in harbor since Tuesday.


Skimmers had been collecting about 12,000 barrels of oil a day before they were sent back to port while about 8,000 barrels of oil was being burned off the surface.


Around 450 miles (725 kilometers) of US shorelines have now been oiled as crude spews into the sea at an alarming rate, 73 days into the worst environmental disaster in US history.


A third containment ship aimed at doubling the amount of oil captured from a rupture well in the Gulf of Mexico should hopefully be working by Wednesday, said Admiral Thad Allen, who oversees operations.


The deployment of the Helix Producer is set to increase capacity from about 25,000 to 53,000 barrels of oil per day.


Officials will have a better estimate on the actual flow rate once the Helix Producer is attached “just by the visual evidence of how much oil is actually coming out around that cap,” Allen said.


They will then have to decide if the existing system should stay in place, or if it would be best to undergo a risky procedure to replace the cap with another system capable of capturing up to 80,000 barrels of oil a day.


“The decision window associated with that would be sometime in the next I would say seven to 10 days,” Allen said in a conference call Friday.


A key advantage of the new system is that it would greatly reduce the amount of time oil would be gushing freely into the sea if crews had to evacuate the spill site due to a bad storm.


“All of this is being weighed very, very carefully,” Allen said.


Meawhile, a US government agency warned the Florida Keys and resort beaches of Miami and Fort Lauderdale were at high risk from the Gulf of Mexico oil spill.


The National Oceanic and Atmospheric Administration used a computer model to estimate the likelihood that toxic crude will ride the Loop Current into the Gulf Stream, which whips around the southern tip of Florida and up the eastern US seaboard.


The study found that much of Florida’s western coastline along the Gulf “has a low probability (one to 20 percent) for impact,” while the Florida Keys, Miami, and Fort Lauderdale areas “have a greater probability (61 to 80 percent).”

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Source: SGGP

Allied leader says Afghan war effort now on track

In Uncategorized on April 23, 2010 at 8:40 am

 NATO‘s top official said Friday the 28-nation alliance is on track with its new strategy for winding down the war in Afghanistan next year, despite security setbacks and a continuing shortage of foreign trainers for the fledgling Afghan police and army.


NATO Secretary General Anders Fogh Rasmussen offered a mostly upbeat assessment to a gathering of allied foreign ministers, including U.S. Secretary of State Hillary Rodham Clinton, who are assessing what will be required to meet the goal — first laid out by President Barack Obama last December — of transitioning to Afghan control next summer.


“Increasingly this year the momentum will be ours,” he said.


Fogh Rasmussen asserted that the Afghan government, which has been hampered by a Taliban insurgency, political corruption, a dysfunctional economy and a dependence on foreign assistance, is starting to take more responsibility for running the country’s affairs.


“We are preparing to begin the process of handing over leadership, where conditions allow, back to the Afghan people,” he said. “The future of this mission is clear and visible: more Afghan capability and more Afghan leadership.”

U.S. Secretary of State Hillary Clinton, center, gestures during a group photo at a meeting of NATO foreign ministers in Tallinn, Estonia, Thursday, April 22, 2010.

During Friday’s meeting, which was closed to the press after Fogh Rasmussen made brief introductory remarks, Clinton was expected to press other NATO nations to provide more trainers for Afghanistan’s police and military forces as part of preparations to withdraw Western troops from there by summer 2011.


Fogh Rasmussen said Thursday that an additional 450 trainers are needed for Afghanistan’s security forces. Insufficient numbers of foreign trainers has plagued the U.S.-led war effort for years, although the shortfall has narrowed in recent months.


NATO’s assessment of its exit strategy comes just five months after Obama sharply escalated troop strength in the rugged mountain nation to challenge a resurgent Taliban movement.


NATO has struggled, in some cases, to coordinate military operations with Afghan civilian authorities and agencies.


In a speech Thursday before the two-day NATO meeting began, Fogh Rasmussen called Afghanistan the most challenging military operation undertaken by NATO in its history.


NATO was founded 61 years ago this month with the signing of a treaty of collective defense against a feared land invasion by the Soviet Union.


Today, Fogh Rasmussen said, instability in places far from Europe can threaten NATO member states.


“We all want to see a stable and secure Afghanistan — an Afghanistan that is no longer a threat to its region and to the rest of the world,” he said in his speech Thursday. “We will stay in Afghanistan as long as it takes to achieve that goal. We want to continue to empower the Afghans. And gradually hand over to them greater responsibility for the security of their own country when conditions permit.”


During Thursday’s talks, Clinton ruled out an early withdrawal of about 200 short-range U.S. nuclear weapons from bases in five European countries.


She said any reductions should be tied to a negotiated nuclear pullback by Russia, which has far more of the weapons in range of European targets.


No such talks are in the offing, and Moscow has shown little interest thus far in bargaining away its tactical nuclear arms.


Clinton also said the Obama administration wants NATO to accept missile defense as a core mission of the alliance.


The U.S. sees anti-missile systems as part of a broader effort to combat the dangers posed by nuclear, biological and chemical weapons and the rockets that can deliver them.

Some European members of NATO, including Germany, have said it’s time for the U.S. to withdraw its remaining Cold War-era nuclear weapons from Europe and cite Obama’s pledge in Prague last year to seek a nuclear-free world.

Late last year, Germany was joined by NATO members Belgium, the Netherlands, Norway and Luxembourg in requesting that the nuclear issue be put on the agenda of the Tallinn meeting.

But some newer NATO members in central and eastern Europe, which lay within Moscow’s orbit during the Cold War, oppose a U.S. nuclear withdrawal. They argue that the presence of the weapons is the surest guarantee of their territorial integrity.

Fogh Rasmussen told reporters here that U.S. nuclear weapons play a vital defensive role in Europe and should not be removed as long as other countries possess them.

“I do believe that the presence of the American nuclear weapons in Europe is an essential part of a credible deterrent,” Fogh Rasmussen said.

Source: SGGP

Storm-hit families now in search of gold

In Vietnam Society on December 2, 2009 at 5:09 am

From small children to the elderly, poverty-stricken residents in Hong Thuy Commune, the Central province of Thua Thien Hue have taken up a new full-time activity – searching a local river for gold.








 

 


After several recent storms devastated central provinces, many families were left with nothing. Floods wiped out farmers’ crops leaving them to face extreme hardship and suffering. Most now rely on food aid from the local government.


With no crops left to cultivate, desperate locals began looking for other ways to eke out a living.


A rumor began circulating that someone had found gold in A Luoi District’s Kroong River, and soon everyone began sifting through the muddy waters looking for the precious metal.









Children sift for gold in the Kroong River in Hong Thuy Commune, Thua Thien Hue Central Province. After recent storms devastated central provinces, locals redidents began flocking to the Kroong River looking for gold. (Photo: SGGP)


An eight-year-old boy named Tran Van Quy said he needs to earn money to help his mother and sister, and yesterday found VND25,000 worth of gold in the river. As he spoke to the reporter, he continued to work, patiently scooping sand into a basket, then sifting for gold.


Many children the same age as Quy have also dropped out of school to search for gold, as their desperate families have no food or income.


Mua Thi Sen, eight years old, said her school is located far from her house and the road there was destroyed by flooding. She has had to drop out of school to help her parents sift for gold as the family has run out of rice and has nothing left to eat but corn and manioc.


Many teachers from local schools have come to visit the children and asked them to return, but most only came back for a few days and then stopped coming altogether, said teacher Tran Minh Can from Hong Thuy Secondary school.


According to the chairman of Hong Thuy Commune People’s Committee, Ho Ba Binh, local authorities have asked residents to stop searching for gold and return to farming, but most have refused saying it’s not feasible.


Thirty-two-year-old Mua A Xinh said the food provided by the local government was not enough to feed his family, so he must try to search for gold.


Chairman of A Luoi District People’s Committee Ho Chi Thoi said district authorities are trying to raise money to help residents and encouraging them to start rebuilding their farms.


Source: SGGP Bookmark & Share

SGGP news now available on mobile phones

In Vietnam Science on November 30, 2009 at 4:08 am

Sai Gon Giai Phong (SGGP) readers can now receive the latest news via their mobile phones.








Viettel subscribers can now receive the latest SGGP’s news via their mobile phones.

The Mobile SGGP Newspaper service allows mobile phone users to download SGGP news and send stories to their friends.


The service is provided by Viettel mobile in conjunction with SGGP newspaper.


Viettel subscribers will receive news updates in the afternoon and evening through the multimedia message (MMS) feature.


Subscribers must register and pay for GPRS, and have a mobile phone able to use MMS.


The service fee is VND15,000 per month. For customers who register from the 21st of the month onwards, the fee is just VND7,800 until the end of the month.
 
To access the service, subscribers send a message using DK (space) SGGP to the number 9222.


Source: SGGP Bookmark & Share

October 2 has now become Learning Day throughout VN

In Uncategorized on October 3, 2008 at 3:17 pm

Ha Noi — Yesterday, October 2, was observed as the first Learning Day throughout Viet Nam.


Each year, the day will be observed on this date, which is the anniversary of the Viet Nam Learning Association.


This was announced by Deputy Prime Minister and Minister of Education Nguyen Thien Nhan yesterday at a meeting to mark the anniversary.


Nhan said he hoped the Prime Minister’s decision would accelerate the nation’s efforts to increase learning among the young.


“The Learning Association has given strength to millions of pupils, students and teachers in special circumstances (the poor or those whose circumstances deteriorate) to learn and teach better,” he said.


Legendary army figure General Vo Nguyen Giap is the honourable president of the association.


In a letter to the organisation, Truong Tan Sang, Permanent Secretary of the Party Central Committee , said he wanted it to link its activities with those of other civil organisations to build Viet Nam into a learned society.


Nguyen Manh Cam, the association’s president, said that since it was created 12 years ago, the organisation had gained more than six million members and had more than 250,000 sub-associations.


Every year for the past five years, the association has granted from VND250-300 billion (US$15-18 million) in scholarships to students and allowances to help needy teachers. —