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Posts Tagged ‘rising’

VN-Index resumes rising momentum

In Uncategorized on December 16, 2010 at 10:08 am

VN-Index, a gauge of 271 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange, rebounded on December 9 thanked to rising buying demand at the end of the trading session.

The Vietnam’s benchmark jumped 1.68 percent, or 7.62 points, to close at 460.45 points.


Among the index members, 189 leaped forward, 46 retreated, while 41 remained unchanged.


Trading volume on the city bourse fell by 15 percent to nearly 60.6 million shares worth VND1.35 trillion.


Quoc Cuong Gia Lai Joint Stock Company (QCG) topped the list of most active shares in volume with 5.58 million shares changing hands.


Saigon Securities Inc (SSI), the country’s largest brokerage, followed with 3.7 million shares traded, tagged along by Refrigeration Electrical Engineering Corporation (REE) with 2.22 million shares.


Mirae Joint Stock Company (KMR) and Taya Vietnam Electric Wire and Cable Joint Stock Company (TYA) all jumped the daily maximum allowed limit of 5 percent to VND8,400 and VND6,300 respectively.


Ho Chi Minh City Securities Corporation (HCM) snapped its two-day losing streak, climbing up 4.98 percent to VND31,600.


Investment and Trading of Real Estate Joint stock Company (ITC) and Dai Thien Loc Corporation (DTL) both levitated 4.95 percent to VND23,300.


Hamico Group Mineral Joint Stock Company (KSH) edged down for three consecutive days, erasing 4.96 percent to VND36,400.


Viet Thang Aquafeed Joint Stock Company (VTF) gave up 4.91 percent to trade at VND15,500.


Lilama 18 Joint Stock Company (LM8) shed 4.83 percent to VND13,800.


The northern bourse also performed well today as the Hanoi’s HNX-Index augmented 1.48 percent, or 1.63 points, to finish at 112.13 points. Trading volume reached 62.25 million shares worth VND1.16 trillion.


The UPCom-Index slipped 0.12 points to 39.81 points this morning. The market of unlisted shares saw a total of 176,800 shares trading at VND2 billion.

Source: SGGP

Rising Chinese plane maker boasts 100 orders at air show

In Uncategorized on November 17, 2010 at 3:26 am

Reinforced Thai capital readies for rising waters

In Uncategorized on October 24, 2010 at 12:00 pm

BANGKOK, Oct 24, 2010 (AFP) – Bangkok braced for rising waters encroaching on the fortified city on Sunday as the death toll from two weeks of nationwide flooding rose to 38, emergency officials said.


The floods, which began on October 10, have affected millions of people across huge swathes of the country, inundating thousands of homes and leaving authorities struggling to reach people stranded in remote areas.

A woman stands in flood water outside her house in Bangkok on october 24, 2010. AFP

The capital has reinforced its flood walls with 200,000 sandbags and will build temporary wooden bridges in 27 communities to help people cross over waterlogged streets.


More than 1,000 water pumps are on standby and authorities are preparing schools, monasteries and mosques in 13 districts for evacuation.


Prime Minister Abhisit Vejjajiva said that while floods in the kingdom’s east and northeast were declining, the situation in central provinces was concerning, especially with high tides expected in the next few days.


“I’m trying my best to mobilise all possible assistance to solve this problem,” he said on his weekly television broadcast.


The Emergency Medical Institute of Thailand reported a further six deaths to add to Saturday’s toll of 32, who were swept to their deaths or killed in accidents as vehicles were carried away by the churning waters.


The two worst-hit northeastern provinces of Nakhon Ratchasima and Buriram have each reported six deaths, while six people were also killed in Lop Buri and three died in Khon Kaen.


A further 17 people have died in eight more provinces across central, northeastern and eastern areas, including one in Nonthaburi province, just north of Bangkok.


The Irrigation Department on Saturday issued warnings to people living in seven low-lying provinces, including Bangkok, as water from further north began to flow downstream.


Around 4,000 cubic metres (a million gallons) of water per second was expected to flow into the capital’s Chao Phraya river, which coupled with high sea levels surging from the other direction could cause floods in parts of the city.


More than 2.5 million people, or 828,443 households, have been affected by the two weeks of flooding, which has hit 30 out of Thailand’s 76 provinces, the Department of Disaster Prevention and Mitigation said.


Bad weather has battered countries in the region in recent weeks, with dozens killed in Vietnamese floods and nearly 50 people left dead in the Philippines and Taiwan by Typhoon Megi, which has roared into southern China.


In western Myanmar, Cyclone Giri killed at least one person on Friday and left tens of thousands in need of help.

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Source: SGGP

W.Bank: Rising Asian currencies pose growth risk

In Uncategorized on October 19, 2010 at 4:21 pm

The World Bank warned Tuesday that capital inflows into fast-growing East Asian economies have inflated regional currencies and could threaten growth by making exports less competitive.


“Appreciating exchange rates so far have not crippled the recovery, but further appreciation will bear close watching,” said the World Bank, pointing out that regional currencies are 10-15 percent above pre-2008 crisis levels.

A bank employee counts notes in Hanoi, Vietnam.

“So far, export growth has remained robust, but with continued real appreciation of East Asian currencies this growth could slow,” a report said.


The World Bank report came as fears grow of a “currency war”, in which nations, trying to export their way back to economic health, are seeking to cap or lower their currencies to make their goods more competitive.


The bank urged regional debate at a Hanoi summit this month, saying “the issues need to be discussed in the context of ASEAN and ASEAN+6, where member countries could fashion a common approach to these regional challenges.”

Source: SGGP

VN-Index maintains rising momentum amid market makes correction

In Uncategorized on October 14, 2010 at 6:29 pm

Movements of VN-Index on October 7. (Photo: vietstock.vn)The shares on the Ho Chi Minh Stock Exchange advanced for three consecutive trading sessions on October 7 thanked to support from blue-chip stocks though the Vietnam’s benchmark tended to make correction after robust rallies.

VN-Index, a measure of 261 companies and five mutual funds, added 0.29 percent, or 1.33 points, to close at 462.05 points.


Trading volume on the city bourse faintly slid over the previous session as around 37.34 million shares changed hands at a value of VND983 billion.


Of the index, 58 stocks gained, 163 went down, while 45 stayed the same.


With 1.9 million shares changing hands, PetroVietnam Fertilizer and Chemicals Corporation (DPM) won the spot of most active share in volume.


Vietnam Export Import Commercial Joint Stock Bank (EIB) took the second rank with 1.79 million shares.


Tan Tao Investment Industry Corporation (ITA) tagged along with 1.54 million shares traded.


Bao Viet Holdings (BVH) increased 5 percent to trade at VND63,000 from VND60,000 yesterday.


Tan Binh Import – Export Joint Stock Company (TIX) capped its three-straight-session losing streak, shooting up 4.98 percent to VND48,500.


The Hanoi-based Information and Networking Technology Joint Stock Company (CMT) advanced for three consecutive days, surging 4.95 percent to VND29,700.


Phuc Tien Trade Manufacture Joint Stock Company (PHT) slashed 5.33 percent to VND16,000. The company will pay dividends for the first term of this year in cash at a ratio of 10 percent since November 30.


Ha Tien Transport Joint Stock Company (HTV) dropped 4.91 percent to VND32,900.


Meanwhile, the trading floor in the north made a contrast move as the Hanoi’s HNX-Index slipped 2.22 points, or 1.78 percent, to finish at 122.62 points. Liquidity continued to severely fall as just nearly 23 million shares changed hands at VND538.9 billion.


The UPCoM-Index slightly rose by 0.1 points to 45.58. A total of 388,200 shares were traded at VND8.36 billion.

Source: SGGP

Rising sea levels to blame for many HCM City floods

In Uncategorized on June 18, 2010 at 8:34 am




Rising sea levels to blame for many HCM City floods


QĐND – Tuesday, June 15, 2010, 20:51 (GMT+7)

Staying one step ahead of climate change and not avoiding direct confrontation with the phenomenon was one of many adaptation strategies proposed on June 14 at a conference in HCM City.


The conference identified several approaches, strategies and measures to adapt to climate change as HCM City pursued its development goals, including learning from the experiences of Rotterdam City.


Nguyen Thai Lai, Deputy Minister of Natural Resources and Environment, said the climate change impacts challenge the city, but they should also be seen as an opportunity to “identify directions for development.”


The rise in sea levels, increasing temperatures and rainfall are flooding around 117 wards regularly during the rainy season, said Dao Anh Kiet, director of HCM City ‘s Department of Natural Resources and Environment. “With a 75cm sea level rise in 2050, 10 percent of the city’s area will be totally flooded,” he said.


Outlining the strategy of keeping one step ahead of the weather phenomenon, Dao Xuan Hoc, Deputy Minister of Agriculture and Rural Development advised the city to stick to its plan of moving towards the sea.


“Developing the city in the eastern direction is one of the ways for us to adapt to climate change actively,” he said.


Vu Thuy Hai of the Urban and Rural Planning Sub-Institute under the Ministry of Construction said the Prime Minister had in January approved a master plan for HCM City for the 2025-35 period that included the development direction to the sea.


Under this plan, the city develops port townships in Hiep Phuoc ward, taking advantage of the Soai Rap estuary, as well as enhances urban development in the way to Cai Mep – Thi Vai estuary in Ba Ria-Vung Tau Province, she said.


Tredo Vellinga of the Port of Rotterdam said moving ports from the inner city to the coastal area was a wise move that his city had also taken as an adaptation measure, taking back inland spaces for residential development.


He recommended that HCM City assess the effects of climate change on the development of low-lying and flood prone areas and develop research programmes to gather evidence on climate change impacts.


Velinga said it is necessary to keep the original geometry of tributaries and to control the discharge of waste into rivers.


Arnoud Molenaar, climate adaptation director of Rotterdam City praised the initiative shown by HCM City authorities “to act in time and start in time… to adapt well to the situation of climate change impacts.”


He said Rotterdam is trying to ensure that all its plans and projects including supply of water and power are aligned with its long-term development vision.


Some Vietnamese participants at the conference didn’t feel the application of Dutch models might be suited for HCM City because it has a more complex hydrology system compared with Rotterdam.


An official of the Southern Institute for Irrigation Planning called for prioritising pressing needs. “We should deal first with the matter of irrigation for the city and prioritise it rather than finding approaches to move to the sea.”


Kiet noted that the city’s strategy for climate change adaptation and city planning has been approved by the Ministry of Natural Resources and Environment but it could not be prioritised because the work needed to be coordinated by the ministry for the whole region, including the Mekong Delta provinces.


Source: VNA


Source: QDND

Hue prepared for festival, but prices rising

In Uncategorized on June 4, 2010 at 10:23 am

The central province of Thua Thien-Hue has readied itself for the Hue Festival 2010, but organizers are worried that local service providers are hiking prices.


The biennial event of art and culture scheduled to take place in the former imperial capital city of Hue from June 5 to 13 has already attracted thousands of domestic and foreign visitors, organizers said, adding that Hue is becoming noisier each hour.

Performances of Hue royal palace dance will be a highlight of this year’s Hue Festival. (Filed photo: SGGP)

The festival atmosphere has also taken over the districts of Huong Thuy, Phong Dien, Huong Tra outside the city center as everyone readies for the event, themed “Cultural Heritage with Integration and Development.”


Ngo Hoa, head of the festival organizing committee, said 12 stages totaling 25,000 seats with modern lighting and audio systems had been built to host 17 major performances at the Hue Royal palace, An Dinh Palace, Tinh Tam Lake and along the Huong River.


The stage built at Ngo Mon (Noon Gate), where the event’s opening ceremonies will take place, is the largest at three stories tall.


The 1500sq.m floating stage on Tinh Tam Lake promises to be a thrill when it hosts performances of  traditional Ca tru (ceremonial songs), quan ho Bac Ning singing (Bac Ninh folk love duets) and nha nhac Hue (Hue royal court music). All three genres of music have been recognized by UNESCO as world cultural heritages.


Hoa said domestic art troupes and art troupes from 30 other countries are in Hue preparing their performances.


Price problems?


According to Nguyen Van Thang, chief inspector of Thua Thien – Hue Department of Culture, Sports and Tourism, inspectors are checking hotels and guest houses in order to minimize the escalation of the prices that always accompanies festivals in Vietnam. The department is ensuring that hotels abide by their officially listed prices, Thang said.


But he added that many hotels on Hung Vuong and Ben Nghe streets had kept rooms open in a deliberate attempt to raise prices when the festival opens.


Normally, such hotels charge VND150,000 – 180,000 (US$7.9 – 9.5) per room, but they were now charging VND250,000 – 300,000 ($13 – 16), said Thang.


Visitors who arrived in Hue on June 3 told SGGP they were disappointed they could not find available rooms.


Tran Cong Lan, a visitor from Hai Phong City, said his group of 20 people came to Hue for the festival, however, they could not find any hotels which that had enough rooms for them. They’ve decided to stay outside the city.


Festival organizers also said restaurants and food and beverage vendors had raised prices 20-30 percent for the event.

Source: SGGP

Investor wariness prevents market from rising higher

In Uncategorized on May 27, 2010 at 9:06 am

Interest rising in CNG as alternative to gas, diesel

In Uncategorized on April 5, 2010 at 9:27 am

As part of efforts to reduce exhaust fumes from industries and vehicles, more Vietnamese businesses and agencies have shown interest in switching to Compressed Natural Gas (CNG) to replace gasoline, diesel and propane.

A driver fills up a taxi with gas in HCMC (Photo: SGGP)

However, converting to the more environmentally friendly fossil fuel has been slow due to the cost of converting old systems to those that can accommodate CNG.


According to reports from the Ministry of Planning and Investment’s Clean Tech Fund, harmful fumes released from industries this year could account for up to 33 percent of total emissions in the country. Meanwhile, electricity production could account for up to 27 percent of total emissions and vehicles could account for 24 percent.


Last year, bus operators in Ho Chi Minh City expressed interest in switching to CNG as the gas is also more cost-effective than regular fuel.


The Sai Gon Passenger Transport Company and HCMC Bus Cooperative Alliance each imported one CNG bus. The former company has also cooperated with PV Gas South Company to invest in special CNG stations and transport vehicles to provide the buses with CNG.


One station has now been built in the southern coastal province of Ba Ria-Vung Tau and is able to meet the fuel demand of 500 buses.


Another station has also been built in the Sai Gon Passenger Transport Company’s campus in District1, HCMC. Five trailers with a capacity to transport 3,760 kilograms of CNG each, are ready for operation.


The Ministry of Transport, its department in HCMC, and CNG providers have also held three seminars to introduce plans for implementing more CNG technology in Vietnam.


Meanwhile, the ministries of Natural Resources and Environment, and Planning and Investment also view the use of CNG as helping the country to cope with climate change.


According to Dr. Nguyen Trung Viet from the HCMC Department of Natural Resources and Environment, the Asian Development Bank (ADB) and other environmental organizations have funded $250 million for a program to increase the use of CNG in Vietnam.


Companies ask for assistance


Le Trung Tinh from the HCMC Department of Transport said that many transport businesses are hesitant about switching to CNG because of the initial cost involved in switching to a system able to accommodate the gas.


Changing engine types would save fuel costs, but the vehicle quality would reduce, he said.


Importing a fleet of new CNG buses is too costly for most operators with the vehicle prices double those of standard gasoline-using ones.


The Sai Gon Passenger Transport Company on March 29 sent the Ministry of Planning and Investment a proposal asking the ministry to approach Prime Minister Nguyen Tan Dung about approving a tax exemption on imported CNG bus engine systems.


The company says it is now waiting for a reply from the Government.


Mr.Tinh said that HCMC now has about 5,000 buses with 1,300 of them in need of modernization.


If authorities help businesses pay for clean-energy buses, the city would be able to convert 1,300 of the buses into more environmentally friendly vehicles.

Source: SGGP

Interest rising in CNG as alternative to gas, diesel

In Uncategorized on April 5, 2010 at 9:20 am

As part of efforts to reduce exhaust fumes from industries and vehicles, more Vietnamese businesses and agencies have shown interest in switching to Compressed Natural Gas (CNG) to replace gasoline, diesel and propane.

A driver fills up a taxi with gas in HCMC (Photo: SGGP)

However, converting to the more environmentally friendly fossil fuel has been slow due to the cost of converting old systems to those that can accommodate CNG.


According to reports from the Ministry of Planning and Investment’s Clean Tech Fund, harmful fumes released from industries this year could account for up to 33 percent of total emissions in the country. Meanwhile, electricity production could account for up to 27 percent of total emissions and vehicles could account for 24 percent.


Last year, bus operators in Ho Chi Minh City expressed interest in switching to CNG as the gas is also more cost-effective than regular fuel.


The Sai Gon Passenger Transport Company and HCMC Bus Cooperative Alliance each imported one CNG bus. The former company has also cooperated with PV Gas South Company to invest in special CNG stations and transport vehicles to provide the buses with CNG.


One station has now been built in the southern coastal province of Ba Ria-Vung Tau and is able to meet the fuel demand of 500 buses.


Another station has also been built in the Sai Gon Passenger Transport Company’s campus in District1, HCMC. Five trailers with a capacity to transport 3,760 kilograms of CNG each, are ready for operation.


The Ministry of Transport, its department in HCMC, and CNG providers have also held three seminars to introduce plans for implementing more CNG technology in Vietnam.


Meanwhile, the ministries of Natural Resources and Environment, and Planning and Investment also view the use of CNG as helping the country to cope with climate change.


According to Dr. Nguyen Trung Viet from the HCMC Department of Natural Resources and Environment, the Asian Development Bank (ADB) and other environmental organizations have funded $250 million for a program to increase the use of CNG in Vietnam.


Companies ask for assistance


Le Trung Tinh from the HCMC Department of Transport said that many transport businesses are hesitant about switching to CNG because of the initial cost involved in switching to a system able to accommodate the gas.


Changing engine types would save fuel costs, but the vehicle quality would reduce, he said.


Importing a fleet of new CNG buses is too costly for most operators with the vehicle prices double those of standard gasoline-using ones.


The Sai Gon Passenger Transport Company on March 29 sent the Ministry of Planning and Investment a proposal asking the ministry to approach Prime Minister Nguyen Tan Dung about approving a tax exemption on imported CNG bus engine systems.


The company says it is now waiting for a reply from the Government.


Mr.Tinh said that HCMC now has about 5,000 buses with 1,300 of them in need of modernization.


If authorities help businesses pay for clean-energy buses, the city would be able to convert 1,300 of the buses into more environmentally friendly vehicles.

Source: SGGP