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Posts Tagged ‘signs’

Vietnam Airlines signs deal for eight Boeing Dreamliners

In Uncategorized on October 30, 2010 at 11:41 am

HANOI, Oct 30, 2010 (AFP) – Vietnam Airlines on Saturday signed a deal to buy eight Boeing 787-9 Dreamliners in a ceremony witnessed by US Secretary of State Hillary Clinton.

Boeing 787 Dreamliner

The national flag carrier will take delivery of the first aircraft in 2015, Vietnam Airlines president and chief executive Pham Ngoc Minh was quoted by Dow Jones Newswires as saying.

He said the airline was also in talks to buy a further eight of the aircraft.

“Today marks the continuation of a 15-year relationship between Boeing and Vietnam and represents the introduction of the next generation of flight,” the US aircraft maker said in a statement on the signing.

“With this agreement, Vietnam Airlines shows its growing leadership in Southeast Asia by making the 787 Dreamliner the backbone of their twin aisle fleet.”

Source: SGGP

 

Flight from

HCM City to increase legibility of street signs

In Uncategorized on October 14, 2010 at 6:31 pm




HCM City to increase legibility of street signs


QĐND – Wednesday, October 13, 2010, 20:29 (GMT+7)

The HCM City Transport Department has decided to change street nameplate designs to facilitate traffic and visitors.

The department’s Urban Traffic Management Unit 1, which is in charge of making the new designs, said the current plates are not well-designed, and the street names are too small to see from a distance. The plates are only 50cm in length and 30cm in height, and letters are 8cm in height.

The plates cannot contain the word Duong (road) and the street name, especially for names with more than six letters.

Ha Le An, deputy chief of the Unit 1’s Technique Infrastructure Management Office, said his unit would work with the HCM City Communist Youth Union to launch a street nameplate design contest for finding the best design for city streets.

The new plates will be 97cm in length and 25cm in height to cover long street names with 9-cm high letters.

The word “road” will be abbreviated RD on the right corner of the plate to make it easier for foreigners to understand.

Unit 1 has chosen corrugated steel as the new material for the nameplates.

After the contest, the Transport Department will install new plates on main streets for an experiment, and then on most streets in the city, An said.


Source: VNA
Photo: phapluattp


Source: QDND

Polluter Vedan signs out-of-court compensation agreements

In Uncategorized on October 14, 2010 at 2:38 pm

Vedan Vietnam signed August 13 agreements to compensate VND45.7 billion (US$2.4 million) and VND53.6 billion ($2.8 million) to Ho Chi Minh City and Ba Ria-Vung Tau farmers respectively for damage it caused to them by dumpting untreated wastewater into the Thi Vai River. 

File photo shows the Thi Vai River polluted by untreated wastewater

The Taiwanese MSG producer also agreed to pay each city and province additional VND500 million ($26,300) to cover their cost of inspecting and calculating economic losses suffered by affected farmers.
 
Vedan will transfer half of the compensation to farmers within one week, and the remainder will be transferred on January 14, 2011 at the latest with a bank guarantee by the HCMC branch of Bangkok Bank.
 
The bank guarantee for the city farmers must be sent to Nguyen Van Phung, chairman of the HCMC Farmers Association, and the guarantee for Ba Ria-Vung Tai farmers must be sent to the province People’s Committee within one week from August 13, the agreements said.
 
Mr. Phung said the city’s relative agencies will discuss with affected farmers on a plan to receive the compensation.
 
The association and relative agencies will oversee the payment of compensation to farmers to ensure that appropriate damages are paid to proper farmers, he added.

Source: SGGP

Polluter Vedan signs compensation deal with Dong Nai

In Uncategorized on October 14, 2010 at 2:35 pm

Vedan Vietnam signed September 10 an agreement to compensate nearly VND120 billion (US$6.3 million) to farmers in Long Thanh and Nhon Trach districts, Dong Nai Province for damage to farmland caused by its illegal discharge of untreated wastewater into the Thi Vai River.

Representatives of Vedan Vietnam and the sounthern province of Dong Nai sign the compensation agreement on September 10 (Photo: TT)

Vedan will transfer half of the compensation to farmers in Long Tho and Phuoc An communes in Nhon Trach District, and Long Phuoc and Phuoc Thai communes in Long Thanh districts within one week.


The remainder will be transferred on January 14, 2011 at the latest with a bank guarantee by the Ho Chi Minh City branch of Bangkok Bank.
 
The bank guarantee for the provincial farmers must be sent to the Dong Nai Province Farmers Association within one week from September 10, the agreement said.


The Taiwanese MSG producer also agreed to pay the province additional VND1 billion to cover its cost of inspecting and calculating economic losses suffered by affected farmers.


Dong Nai, which suffered most from the pollution, is the last locality to accept the company’s compensation.


So far, farmers in the province have agreed not to sue Vedan and accept its compensation, only Vien Dong Company has insisted on its lawsuit.

Source: SGGP

Polluter Vedan signs out-of-court compensation agreements

In Uncategorized on August 14, 2010 at 11:21 am

Vedan Vietnam signed August 13 agreements to compensate VND45.7 billion (US$2.4 million) and VND53.6 billion ($2.8 million) to Ho Chi Minh City and Ba Ria-Vung Tau farmers respectively for damage it caused to them by dumpting untreated wastewater into the Thi Vai River. 

File photo shows the Thi Vai River polluted by untreated wastewater

The Taiwanese MSG producer also agreed to pay each city and province additional VND500 million ($26,300) to cover their cost of inspecting and calculating economic losses suffered by affected farmers.
 
Vedan will transfer half of the compensation to farmers within one week, and the remainder will be transferred on January 14, 2011 at the latest with a bank guarantee by the HCMC branch of Bangkok Bank.
 
The bank guarantee for the city farmers must be sent to Nguyen Van Phung, chairman of the HCMC Farmers Association, and the guarantee for Ba Ria-Vung Tai farmers must be sent to the province People’s Committee within one week from August 13, the agreements said.
 
Mr. Phung said the city’s relative agencies will discuss with affected farmers on a plan to receive the compensation.
 
The association and relative agencies will oversee the payment of compensation to farmers to ensure that appropriate damages are paid to proper farmers, he added.

Source: SGGP

Obama signs historic finance reform bill

In Uncategorized on July 23, 2010 at 11:18 am

WASHINGTON, July 21, 2010 (AFP) – President Barack Obama Wednesday signed into law the most sweeping reform of the US finance industry since the 1930s, promising US taxpayers would no longer get the bill for Wall Street excess.


The legislation, which some Republicans have pledged to repeal, introduces new consumer protections, checks the power of big banks and cracks down on deceptive practices by credit card firms.

US President Barack Obama speaks before signing the Dodd-Frank Wall Street Reform and Consumer Protection Act at the Ronald Reagan Building in Washington, DC, July 21, 2010. AFP PHOTO

“Because of this law, the American people will never again be asked to foot the bill for Wall Street’s mistakes. There will be no more tax-funded bailouts,” Obama promised.


Seeking to restore public confidence in his economic leadership as unemployment flirts with double digits, Obama said the bill would repair the fractures and abuses that produced the financial meltdown.


“It was a crisis born of a failure of responsibility, from certain corners of Wall Street to the halls of power in Washington,” said Obama, before adding the legacy-boosting law to his huge health care reform passed earlier this year.


“These reforms represent the strongest consumer financial protections in history,” Obama said, before signing the new law, passed by Congress last week.


“These protections will be enforced by a new consumer watchdog with just one job: looking out for people — not big banks, not lenders, not investment houses.”


The financial reform bill finally squeezed through Congress with just a handful of Republican votes, as the opposition party stuck with its policy of trying to block Obama’s ambitious reform program at all costs.


Republican leaders on Wednesday condemned the new law, saying it would crimp growth, and handcuff the might of America’s financial titans.


Republican National Committee chairman Michael Steele accused Obama of trying to convince “skeptical Americans that he is doing everything he can to lower unemployment.”


“President Obama has signed into law a 2,300-page behemoth that will saddle the business community with innumerable unintended consequences, tighter credit, and countless job-killing regulations,” Steele said.


Mike Pence, a leading Republican in the House of Representatives, said the bill would hugely expand government control of the private sector.


“We need to repeal this new big government program and replace it with common sense reform that protects taxpayers from bailouts,” he said, disputing Obama’s claims that the law would end the need for government rescues.


Obama is facing his lowest approval ratings yet in some polls, but the idea of cracking down on banks is popular with the public.


However, much of the financial reform bill, like the health care law, will take time to implement and so may not help his political plight for months.


For instance, it will be up to a year before a new Consumer Financial Protection Bureau is set up to protect American consumers from hidden fees and deceptive lending practices when they get a new mortgage or credit card.


It could be 18 months before new regulations emerge to stop banks from engaging in impermissible proprietary trading and investment in hedge funds under the Volcker rule, named after former Federal Reserve chief Paul Volcker.


In a bid to highlight the help the bill will grant to the middle class, Obama was joined at the signing ceremony by several Americans who suffered unfair treatment at the hands of credit card firms and banks.


The legislation closes loopholes in regulations and requires greater transparency and accountability for hedge funds, mortgage brokers and payday lenders, as well as arcane financial instruments called derivatives.


The measure has drawn praise but also skepticism from economists and analysts.


The bill “addresses a number of key weaknesses in the US financial regulatory structure that led to the financial meltdown in 2008 and early 2009,” said Brian Bethune at IHS Global Insight.


But Diane Swonk at Mesirow Financial warned that much of the impact is not known.


“We will have more regulators overseeing — but not necessarily averting — risk, and with a bill so large and undefined, we are likely to get more, in terms of unintended than intended consequences, going forward,” she said.


The law is likely to generate heated debate ahead of congressional elections in November as Republicans call for its reversal.


House Republican leader John Boehner said recently the law “ought to be repealed” and replaced with “common sense things that we should do to plug the holes in the regulatory system.”

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Source: SGGP

Obama signs toughest-ever US sanctions on Iran

In Uncategorized on July 2, 2010 at 6:29 am

WASHINGTON, July 1, 2010 (AFP) – President Barack Obama on Thursday signed into law the toughest ever US sanctions on Iran, which he said would strike at Tehran’s capacity to finance its nuclear program and deepen its isolation.

US President Barack Obama arrives to sign the Iran Sanctions Bill in the East Room of the White House in Washington, DC, July 1, 2010. AFP

The measures, on top of new UN Security Council and European sanctions, aim to choke off Iran’s access to imports of refined petroleum products like gasoline and jet fuel and curb its access to the international banking system.


“With these sanctions — along with others — we are striking at the heart of the Iranian government’s ability to fund and develop its nuclear programs,” Obama said at a White House ceremony, before signing the sanctions into law.


“We are showing the Iranian government that its actions have consequences, and if it persists, the pressure will continue to mount, and its isolation will continue to deepen.


“There should be no doubt — the United States and the international community are determined to prevent Iran from acquiring nuclear weapons.”


The US Senate and House of Representatives approved the legislation — which backers described as the toughest ever unilateral US sanctions against the Islamic republic — by crushing 99-0 and 408-8 margins last week.


The United States spent months assembling an international coalition for new United Nations Security Council sanctions on Iran, which passed last month.


The measures, the fourth such set of UN penalties levied on Iran, are meant to punish Tehran for refusing to halt its uranium enrichment work, the most sensitive part of its atomic drive.


In response, Iranian President Mahmoud Ahmadinejad said Monday he would postpone nuclear talks as a “penalty” to world powers as a result of the latest UN sanctions.


The new US sanctions are effectively designed to force foreign firms to chose whether to do business with Iran or the United States.


The law shuts US markets to firms that provide Iran with refined petroleum products that the oil-rich nation must import to meet demand because of a weak domestic refining capability.


It also takes aim at firms that invest in Iran’s energy sector, including non-US companies that provide financing, insurance, or shipping services.


It could also see non-US banks doing business with certain blacklisted Iranian entities — including Iran’s elite Islamic Revolutionary Guard Corps and several banks — shut out of the US financial system.


Some foreign companies have already begun to sever ties with Iran because of the new law.


But observers, though, have questioned how successful the new law, and similar measures being adopted in Europe, and by other close US allies will be, given that Iran has been looking for other sources of supplies.


Obama noted that Iran had spurned the offer of dialogue that he had made last year on coming to office.


“To date, Iran has chosen the path of defiance,” he said.


“That is why we have steadily built a broader and deeper coalition of nations to pressure the Iranian government.”


World powers led by Washington have accused the Islamic Republic of seeking to build nuclear weapons and are demanding it freeze its uranium enrichment activity, which can be a key step towards developing an atomic arsenal.


Iran denies its nuclear program has a military use.


“The government of Iran still has a choice,” Obama said in the prepared remarks.


“The door to diplomacy remains open. Iran can prove that its intentions are peaceful. It can meet its obligations under the (Nuclear Non Proliferation Treaty) and achieve the security and prosperity worthy of a great nation.”

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Source: SGGP

IATA meets as airline industry shows signs of recovery

In Uncategorized on June 6, 2010 at 10:19 am

BERLIN (AFP) – The commercial aviation industry, battered by plunging sales and fallout from the Icelandic ash cloud, is at last emerging from a steep downturn, the International Air Transport Association (IATA) says.


“We are meeting as the industry continues its recovery from the global financial meltdown,” IATA general director Giovanni Bisignani said ahead of its general assembly starting Monday.


The organisation represents 230 airlines that account for 93 percent of commercial air traffic.

Staff hand out folding chairs to passengers as they wait for information at Manchester Airport, in northwest England after it was closed because of an Icelandic ash cloud in May. AFP file

The pace of the sector’s recovery has been slowed by the eruption in April of an Icelandic volcano, which spread an ash cloud over Europe that brought commercial air travel to a standstill for a week.


International passenger traffic, after rising 10.3 percent in March, showed only a 2.4 percent gain in April.


Bisignani said however that the strong growth recorded prior to the volcano eruption presages a sustained recovery.


“It is finally time for some cautious optimism,” he said.


IATA estimates that the global civil aviation industry lost 9.4 billion dollars (7.8 billion euros) last year, with Europe accounting for 3.8 billion dollars.


The Franco-Dutch airline Air France-KLM last week reported a 4.3 percent gain in traffic in May.


“If this year we see no growth, it is possible that we will be able to regain momentum in 2011,” company chief executive Pierre-Henri Gourgeon said.


“In 2012, the air transport industry will be at a level that will exceed that reached before the (2008 global financial) crisis.”


Industry analyst Christophe Menard of Bryan, Garnier and Co. said that “overall, the trend has been positive over the last months.


“We will incorporate signs of recovery starting in the second half of the year and … should be at the top of the cycle in two years.”


Airlines have taken account of recovery prospects and have told manufacturers they planned to take delivery of aircraft as scheduled in 2011.


Results in the first quarter of the year improved, notably in Asia and North America, according to IATA. The first quarter is traditionally the weakest of the year.


“Airlines typically make 80 percent of their earnings in the second and third quarters,” IATA noted.


Menard said recent airline mergers in the United States should help absorb excess capacity.


At research group Oliver Wyman, analyst Olivier Fainsilber stressed that the economic recovery could prompt an increase in business travel and sales of flexible tickets at higher prices.


“This should be a fillip to generalist companies that have continued to offer a wide range of flight schedules during the crisis but without getting the benefit of sales of flexible tickets,” he said.

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Source: SGGP

Initial signs show rhino died naturally, not shot: national park

In Uncategorized on May 12, 2010 at 8:50 am

Cat Tien National Park authorities have said initial signs showed that a rare rhino reportedly shot dead by poachers had actually died of natural causes.

Forest rangers put together a rhino skeleton recently found in Cat Tien National Park, Lam Dong Province (Photo: Tuoi Tre)

World Wildlife Fund (WWF) Vietnam said on May 10 the Rhino had been killed, but an initial investigation by park rangers has found that the endangered animal had in fact died naturally three to five months ago, Cat Tien authorities said May 11.
 
Tran Van Thanh, the park’s director, said the rhino’s skeleton had been found on an edge of a small stream in Cat Tien District in the Central Highlands province of Lam Dong.
 
The skeleton had been buried in about 0.4 meter of muddy and soil, he said.
 
After two days of excavation, park rangers and WWF have unearthed 52.5 kilograms of various bones belonging to the creature’s skeleton.
 
Mr. Thanh said verification from bone and dung samples, and tracks the rhino left at the scene, had confirmed that the rhino had only one horn.
 
The park is arranging the skeleton, seeking remaining bones, confirming the animal’s species and investigating the cause of the rhino’s death.


Related article:
Endangered Javan rhino killed by poachers

Source: SGGP

Vietnamese economy shows positive signs

In Uncategorized on April 15, 2010 at 4:19 am




Vietnamese economy shows positive signs


QĐND – Wednesday, April 14, 2010, 22:39 (GMT+7)

While many experts are concerned about the country’s economic growth, including the trade deficit in the first quarter of the year, Vietnam Asset Management Company (VAM) has taken a more positive outlook.


Experts from VAM, a fund management company that engages in public and private equity investment and advisory services, said GDP growth in the first three months is estimated at 5.8 percent (a year-on-year increase of 2.7 percent).


Comparing the two quarters, industrial production is up 13.6 percent, retail sales up 24.1 percent, and exports down only 1.6 percent.


Although GDP growth is less than the previous quarter, Tet (Lunar New Year) will have a negative impact on GDP growth in the first quarter of each year compared to the rest of the year, according to VAM’s report.


Average yearly inflation is now up to 9.5 percent, and foodstuffs and building materials categories continue to be the primary contributors to the rise.


The trade deficit in the first quarter is estimated at 3.5 billion USD, compared to a trade surplus of 1.5 billion USD in the first quarter of the year.


However, VAM experts said the number was not as bad as is sounds.


They said the first quarter was anomalous as the surplus was made entirely possible primarily by the re-export of gold due to the price gap of roughly 35 USD/ounce in Vietnam compared to the world market at the time.


In addition, on a monthly level the trade deficit is declining over the fourth quarter of last year, and inflows into the capital account are picking up quite strongly.


An estimated 4 billion USD in FDI and remittances flowed into Vietnam in the first quarter.


The evidence is in the currency market, where free market and official rates seem to be in equilibrium for the moment.


Nonetheless, on March 21, Fitch Ratings placed Vietnam’s long term foreign and local currency ratings on negative watch with potential for a downgrade, citing weakening confidence in the dong and a lack of transparency regarding foreign reserves and the balance of payments.


It does seem that Vietnam’s foreign reserves were drained substantially in 2009 due to the continued high trade deficit and the slowdown in FDI and remittances.


But for the time being, imbalances in the currency, current account and inflation seem well addressed, VAM said.


The VN-Index finished the month at 499.24, up only 0.5 percent. The market was rallying quite handsomely until Fitch lowered its outlook.


Official audited results are being announced by listed companies during the Annual General Meeting season.


Generally, the earnings have been good and better than management guidance, and some companies have encouraged targets of a 30-100 percent bottomline growth in 2010, with those on the higher end of the spectrum mostly riding on news products and newly added capacity.


On the other hand, lacking support from provisions reversal, tax breaks, low-cost materials and auto component companies have planned low targets compared to their earnings posted in the 2009 fiscal year.


As for the stock market, the 2009 fiscal year results have already been priced in, and going forward, stock prices will be mostly driven by targets for the current fiscal year and how management executes their plans, said VAM.


The news on the macro economy, credit and monetary policies, whether official or not, causes corporate news to drive the bourses.


The commitment to curbing inflation, stabilising the banking system as well as lowering borrowing costs in the last few days of March have eased investors’ panic.


Source: VNA


Source: QDND