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VN-Index evades sharp loss

In Uncategorized on December 21, 2010 at 9:36 am

Vietnam’s benchmark VN-Index successful escaped from losing trend on December 21 as foreign investors increased buying, helping most blue-chip stocks to rebound.

The shares of 274 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange recovered 0.73 percent, or 3.49 points, to close at 481.78 points.

On the benchmark, 134 stocks advanced, 79 dropped, while 66 treaded water.

Trading volume slightly rose over the previous trading session. Around 68.32 million shares changed hands at a value of VND1.69 trillion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, topped the list of most active shares in volume with 5.39 million shares changing hands.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) chased after with 4.85 million shares, followed by Tan Tao Investment Industry Corporation (ITA) with 4.42 million shares traded.

Vien Dong Pharmaceutical Joint Stock Company (DVD), Tay Nguyen Electricity Investment Joint Stock Company (TIC), and Saigon Beverages Joint Stock Company (TRI) all fortified the daily maximum allowed limit of 5 percent to VND42,000, VND10,500, and VND6,300 respectively.

Traphaco Joint Stock Company (TRA) accelerated the second day, soaring 4.94 percent to VND46,700.

Vinaship Joint Stock Company (VNA) rebounded 4.93 percent to VND14,900.

The newly listed IDICO Infrastructure Development Investment Joint Stock Company (HTI) plunged 5 percent to VND19,000.

Binh Thuan Hamico Mineral Joint Stock Company (KSA) fell for four consecutive days, losing 4.94 percent to VND46,200.

Anvifish Joint Stock Company (AVF) snapped its four-day winning streak, shrinking 4.82 percent to VND21,700.

Meanwhile, the smaller bourse in the north made a contrast move as the Hanoi’s HNX-Index cut 1.46 percent, or 1.7 points, to close at 116.7 points. Trading volume slightly improved over the previous session as around 53.12 million shares changed hands at VND961.4 billion.

The UPCom-Index soared 1 point to 41.87. A total of 200,000 shares changed hands at a value of VND2.7 billion as of 11:05 am local time.

Source: SGGP

Vietnam-Germany trade turnover sees sharp increase

In Uncategorized on November 7, 2010 at 1:20 pm

Sharp quake rattles New Zealand city

In Uncategorized on October 19, 2010 at 4:20 pm

An earthquake rattled the southern New Zealand city of Christchurch on Tuesday, cutting power and phone service and sending some residents running into the streets just weeks after a more powerful quake caused extensive damage.

The magnitude 5.0 temblor was one of hundreds of aftershocks that have hit the city since a magnitude-7 quake on Sept. 4 that wrecked thousands of homes, tore up farmland but did not kill anyone. The latest one shook buildings and sent objects tumbling from shelves, but there were no immediate reports of injuries.

“Very scary,” said cafe owner Flick Holmes. “It definitely was a very big one. Everything rocked. Just when you think you’re getting used to it, (another) goes,” she said.

A young boy takes advantage of warped road to skateboard on in Paiapoi, 20km south of Christchurch, New Zealand, Sunday, Sept. 5, 2010.

Regional civil defense official Jon Mitchell said authorities had received reports of damage to stone and brick buildings but no reports of significant damage. The quake had sparked the evacuation of many businesses in the central city, he said.

Prime Minister John Key told reporters he was concerned for the city’s resident who “just want the aftershocks to come to an end.”

Tuesday’s quake was centered six miles (10 kilometers) southwest of the city and just five miles (nine kilometers) below the surface, New Zealand’s geological agency GNS Science said. It was felt strongly because it was so shallow, agency seismologist Bill Fry told New Zealand’s National Radio.

More aftershocks of a similar magnitude were likely and the region could still be experiencing aftershocks in a year’s time, Fry said.

Electricity and phone service were cut to several parts of the city, civil defense officials said.

“All our china is smashed in our kiosk,” said Fiona Fidow at the Cupcake Collection shop in Westfield Mall in suburban Riccarton.

“The mall has been evacuated. Quite a few people are crying and hysterical. There are a lot of frightened people,” she told the “Stuff” news web site.

About 300 workers were evacuated from a construction site at Christchurch International Airport, while the airport itself reopened after it was closed briefly so engineers could check its runways for cracks.

Officials have estimated that 50,000 homes in the city need major repairs from the earlier quake, with some 1,200 houses likely to be demolished and rebuilt. They have estimated that the full bill for quake damage could reach 4 billion New Zealand dollars ($2.9 billion).

Source: SGGP

Foreign tourists to Hanoi sees sharp increase

In Uncategorized on August 1, 2010 at 7:22 pm

Foreign tourists to Hanoi sees sharp increase

QĐND – Sunday, August 01, 2010, 21:5 (GMT+7)

PANO – According to latest statistics from the Hanoi Department of Culture, Sports and Tourism, the city has received 551,600 international tourists from the beginning of this year up to now, a year-on-year increase of 12%.

Germany was the leading nation in the number of visitors to Hanoi with 104,900, a four-fold increase in comparison with the same period last year, followed by China with nearly 76,600, up 32%, France with 59,100, up 32% and Japan with 50,900, up 20%.

One of the reasons that led to the increase of foreign visitors to Hanoi was the launching of various tourism activities to celebrate the 1,000th anniversary of Thang Long-Hanoi such as the movements titled “Hanoians welcome friends” and “the Green Tourism Year”.

Translated by Vu Hung

Source: QDND

Luxury hotel room prices see a sharp fall

In Uncategorized on June 9, 2010 at 7:13 pm

Luxury hotel room prices see a sharp fall

QĐND – Wednesday, June 09, 2010, 17:26 (GMT+7)

Average prices of high-class hotel rooms in Vietnam fell by 31.9 per cent in 2009, according to figures released on June 8th by Grant Thornton Vietnam.

The firm believes that the global economic crisis had a long term and considerable impact on tourism and hotel sectors in Vietnam and across the world.

Especially, five-star hotels were hit hard as tourists tended to cut down their spending during their tours and rich people seemed to travel less.

However, the survey shows that proceeds from other tourist services like restaurants, spa, banquets and conferences rose 8.2 per cent. As a result, hotels still maintained their incomes in 2009.

Figures also points out that, while the number of international visitors to Vietnam fell, the number of domestic tourists sharply increased.  

Source: Vietnam+

Source: QDND

Da Nang sees a sharp increase in tourist arrivals

In Uncategorized on April 13, 2010 at 3:34 pm

Da Nang sees a sharp increase in tourist arrivals

QĐND – Tuesday, April 13, 2010, 22:7 (GMT+7)

Since the start of this year, Da Nang has received 436,350 tourists, a year-on-year increase of 50 percent, including 169,600 foreigners and 266,800 Vietnamese.

Twenty-one cruise ships docked at Da Nang port, carrying nearly 12,630 passengers, up 30 percent, while visitors traveling by road reached 7,230 and those traveling by air hit more than 8,330. The City’s tourism sector earned more than VND234 billion, up 88 percent. These are positive signals for the tourism sector and tourist arrivals to the city will continue to rise, especially when the “Da Nang – summer destination“ programme comes into effect in the second quarter of this year.

To train hospitality staff, the University of Da Nang – the University of Queensland’s English Language Institute (ELI), the William Angliss Institute (WAI) in Melbourne, Australia and the Furama Resort in Da Nang have signed an agreement to establish a hospitality training school in Da Nang. Trainees will be taught English at ELI and WAI and will practice their hospitality skills at the Furama Resort.

The City’s Department of Culture, Sports and Tourism has met with the National Administration of Tourism to identify two, three-four star hotels and to discuss ways of boosting tourism in the future.       

Source: VOV

Source: QDND

Sharp says to launch 3D televisions by summer

In Uncategorized on April 13, 2010 at 9:38 am

Japanese electronics giant Sharp said Monday it will begin selling 3D televisions before the summer, as competition in the sector intensifies.

In this photo released by Comcast, Mark Swan, left, Paul Hockenbery, center, and Topper Ray watch the first round of the Masters golf tournament in 3D on Thursday, April 8, 2010, at the Comcast Center in Philadelphia. (AFP Photo)

“We will unveil our 3D Aquos models in May, and launch them before the summer shopping season,” executive vice president Masafumi Matsumoto told a press conference.

In doing so Sharp will join rivals Samsung Electronics and Sony Corp. in a sector the industry hopes will help revive profits, as strong competition and falling prices force a reevaluation of the liquid crystal display (LCD) business.

Sharp says its new sets will incorporate the world’s first four primary-colour 3D displays, adding a yellow component to the traditional standard of red, green and blue to create brighter and more defined images.

As with existing 3D TVs, the Sharp sets will require the viewer to wear special glasses, the company said.

An exact launch date is yet to be decided, but the company said it will begin selling the new models in time for the summer bonus season at Japanese companies, which usually starts in June, before looking to the US and Europe.

It will soon start mass-producing large 3D LCD panels, but is yet to decide on whether to supply them to other TV makers, it added.

Earlier this month Sharp unveiled an LCD touchscreen that shows 3D images without requiring special glasses, for potential use in mobile phones, digital cameras, digital photo frames and games consoles.

The company sold around 10 million LCD TVs worldwide between April 2009 and March 2010.


Source: SGGP

Many exports to RoK see a sharp rise

In Uncategorized on March 29, 2010 at 2:38 pm

Many exports to RoK see a sharp rise

QĐND – Monday, March 29, 2010, 21:27 (GMT+7)

Most of exports to South Korea have seen a rise in the first months of 2010, bringing in US$ 203.54 million, up by 77.56 per cent year on year, according to statistics from the General Department of Customs.

Items that saw a sharp rise include means of transport and spare parts; garments, seafood and coal.

Means of transport and spare parts brought in the largest turnover of US$ 47.22 million in January or 23.2 per cent of the aggregate value of exports to the market and up by 227 per cent against the same time last year.

Garments ranked second with a turnover of US$ 29.2 million in the first two months, up by 115.23 per cent year on year.

Source: baocongthuong

Translated by Thu Nguyen 

Source: QDND

EU recession over, but sharp contrasts in east

In World on November 22, 2009 at 12:25 pm

The European Union may have inched out of its sharpest recession since the global slump of the 1930s, but green shoots are not emerging uniformly across the 27-nation bloc’s eastern member states.

Contrasts are sharp among the 10 ex-communist countries that have joined the EU since 2004.

The situation in Poland, the only EU nation to have enjoyed sustained growth this year, compares with the stark lot of countries such as Latvia or Hungary, where the economies have been in freefall.

“In terms of growth, eastern Europe will trail behind the rest of the world,” said Erik Bergloef, chief economist at the European Bank for Reconstruction and Development, which focuses on the ex-communist bloc.

“Over the next few years, this will be the region with the lowest economic growth,” he said in an interview in the Austrian daily Der Standard.

Combined third-quarter figures last week showed that the EU — the world’s biggest trading bloc — had joined Japan and the United States in returning to growth, albeit modestly.

The entire EU economy grew by 0.2 percent in July to September compared with April to June, after five straight quarters of shrinking. A recession is generally defined as two quarters of economic contraction in a row.

Central and eastern Europe countries remain highly dependent on western Europe, which is much more powerful economically. As a result, their future hinges on recovery in western Europe,” Polish analyst Witold Orlowski, of PricewaterhouseCoopers, told AFP.

“Countries like Bulgaria or the Baltic states, which are heavily dependent on foreign capital, are suffering the most. They are dicing with disaster and are still worried about the stability of their currencies,” he said.

The Baltic trio of Latvia, Lithuania and Estonia had earned reputations as tigers within the EU, topping the growth tables, before their overheated, credit-fuelled economies went off the rails last year.

Latvia, like Hungary and Romania, has had to be bailed out by the International Monetary Fund.

Poland, the Czech Republic and Slovakia, who made fewer mistakes, can look to the future more serenely,” said Orlowski.

Slovakia — which adopted the euro in January, joining ex-communist Slovenia in the 16-nation eurozone, and is heavily dependent on car and white goods exports — posted 1.6-percent growth in the third quarter.

“That’s even stronger than the growth in Germany and the Czech Republic” which expanded by 0.7 and 0.8 percent respectively, said Tatra Banka analyst Juraj Valachy in Slovakia.

In the Czech Republic, Raiffeisenbank analyst Michal Brozka said: “The recession is behind us. We’re in a stabilisation phase, but we still need to wait for a real recovery.”

In the Baltics, Lithuania emerged from recession with estimated 5.1-percent growth in the third quarter, but still saw its economy shrink by 14.3 percent compared with the same period of 2008.

Finance Minister Ingrida Simonyte urged caution after that data was released, saying she would only talk about recovery after two quarters of growth and that it was “too early to say when we’ll see the result in people’s pockets.”

Rimantas Rudzkis, chief analyst at the bank DnB Nord in Lithuania, said that while signs of recovery should appear there in the second half of 2010, “faster and more sustained economic development could only be expected in 2012 at the earliest”.

Latvia’s economy contracted by 18.3 percent in the third quarter compared with the same period in 2008. Riga has not yet published a comparison of the third quarter with the second.

Estonia, meanwhile, posted a 2.8-percent contraction against the second quarter and 15.3 percent compared with 2008.

“The situation in the Baltic states is the least optimistic, because they have been subjected to the severest recession in the EU,” said Violeta Klyviene, an analyst at Danske Bank in Lithuania.

Hungary’s economy shrank 1.8 percent from the second quarter and by 7.2 percent compared with last year. The figures for Romania were 0.7 percent and 7.1 percent respectively.

Bulgaria posted its worst performance since the crisis began as its economy shrank by 5.8 percent in the third quarter compared with 2008. Analysts said a recovery was unlikely until 2011.

Source: SGGP Bookmark & Share

Stocks retreat over sharp blue chip selling

In Vietnam Stock Market on September 10, 2009 at 8:06 am

The Ho Chi Minh Stock Exchange closed on a lower note Wednesday as investors cashed in on yesterday’s rally, sharply selling blue chip stocks.

VN-Index, the gauge of 170 stocks on Vietnam’s main exchange in HCMC, inched down 1.7 points, 0.32 percent, to close at 536.11. Among its members, 83 stocks declined and 65 advanced.

Credit Suisse Group AG on September 2 said investors should sell Vietnamese stocks amid “excessive” valuations after the benchmark index jumped 71 percent this year and slowing bank credit will end the market’s outperformance.

“Investors’ sentiment was shaken a little by Credit Suisse’s warning. They sold stocks in the last three days, but yesterday started to buy more. We have seen more inflow of money into blue-chip stocks,” said an analyst of a HCMC-based brokerage, “Unlike some who are say that September is usually the month when the index slides, I think we will have a rally this month.”

Hoang Long Group (HLG), which engages in property development, taxi transportation, shipping, and natural resource exploration, became the 169th member of the bourse today.

The group, based in the Mekong Delta province of Long An, started trading almost 28.8 million shares at an initial price of VND30,000. The shares gained by the maximum limit for the first trading day of 20 percent, to VND36,000, valuing the company at more than VND1 trillion.

OPC Pharmaceutical Joint-Stock Co. (OPC), a herbal medicines manufacturer and trader, dropped 1.9 percent, to VND52,500. Nguyen Thi Minh Tam, OPC Pharmaceutical’s chief accountant, cut her stake in the company to 140,282 shares, 1.7 percent, from 2.5 percent by selling 60,000 shares, the company said in a statement on the exchange’s website.

Tran Nhut Thi Anh Hoang, wife of Nguyen Dang Thoai, a deputy CEO and board member of the company, plans to sell her entire stake of 26,100 shares by September 30, according to another company statement to the bourse.

Hoa Phat Group Joint-Stock Co. (HPG VN), Vietnam’s biggest-listed steel producer, advanced 4.3 percent, to VND73,000, the highest since August 26, 2008. Hoa Phat got credit assurance of VND330 billion (US$18.5 million) from the Hanoi-based Bank for Investment & Development of Vietnam to develop its real estate projects and raise working capital for its energy affiliate, Hoa Phat said in a statement on its website today.

The HNX-Index of the smaller exchange in Hanoi also lost marginally 0.81 points, 0.48 percent, to finish at 167.02.

At the unlisted stock exchange UPCoM, the UPCoM-Index dropped 1.66 points, 2.57 percent, to 63.04.

Source: SGGP