Corporate

President Donald Trump on Friday (May 17) announced he will delay by six months a decision on imposing steep tariffs on imported autos. President Donald Trump has threatened to impose 25 percent punitive duties on autos, which has worried the European Union and Japan in particular, as well as Mexico and Canada -- but will hold off for up to six months while talks continue AFP/Justin SULLIVAN While holding off on what would be a sizeable escalation in Trump's multi-front trade wars, the decision marks an attempt by Washington to increase pressure ahead of negotiations with the EU. Trump directed US Trade Representative Robert Lighthizer to update him within 180 days on the outcome of negotiations with the EU, Japan and "any other country" Lighthizer deems appropriate. By leaving the threat of tariffs hanging, Trump's move is sure to irritate major trading partners already angered by the imposition of punishing US duties on steel and aluminum last year. Trump had been facing a … [Read more...] about Trump delays decision on auto tariffs for up to six months

Go-Viet has issued the decision to adjust fares and apply flexible rates at peak hours and other special cases, effective from 12 PM, May 16. Go-Bike now charges a higher fare than its direct rival GrabBike Accordingly, the fares increased in comparison with the old rates and Go-Viet also started implementing the test of multiplying fares. The new fare table of Go-Viet: Service Go-Bike Go-Send Go-Food (VND) First 2km fare (VND) 12,000 15,000 10,000 (+ 10,000 surcharge) Basic fare (VND per km) (from the 3rd km onwards) 4,000 4,000 3,000 The changes in Go-Bike fees are as follows: Go-Bike service First 2km fare (VND) Basic fare (VND per km) Old fare 10,000 3,600 Updated fare 12,000 4,000 It can be seen that the new price of Go-Bike service increased significantly, not just the decimal number. With the new change of price, Go-Viet rates is VND200 higher than the old fares of GrabBike (GrabBike just updated the new … [Read more...] about Go Bike increases fares above main rival GrabBike

Boeing said on Thursday (May 16) that it completed its software update on the 737 MAX after two deadly crashes resulted in a global grounding of the aircraft. Boeing said that it completed its software update on the 737 MAX after two deadly crashes resulted in a global grounding of the aircraft. (AFP/Jason Redmond) The proposed fix, which addresses a problem with a flight handling system thought to be a factor in both crashes, must now win approval from US and international regulators before the planes can return to service. "With safety as our clear priority, we have completed all of the engineering test flights for the software update and are preparing for the final certification flight," said Chief Executive Dennis Muilenburg said in a statement. "The accidents have only intensified our commitment to our values, including safety, quality and integrity, because we know lives depend on what we do." Boeing's announcement sent shares up 2.6 per cent to US$354.44 in afternoon … [Read more...] about Boeing says 737 MAX software update is complete

Deputy PM Trinh Dinh Dung received a delegation of French businesses in infrastructure and aviation.  Deputy PM Trinh Dinh Dung (R) and First Counsellor and Deputy Ambassador of France to Vietnam Olivier Sigaud, Hanoi, May 16, 2019 – Photo: VGP/Doan Bac The group consisted of large-scale aviation group such as ADP Group, ACOEM, Brueau Veritas Viet Nam hoping to seek investment opportunities in Vietnam. Deputy PM Dung welcomed the French business delegation, highlighting the Vietnam-French strategic partnership which has flourished in all fields especially economics, trade, and investment. So far, French is Vietnam’s fourth largest trade partner in Europe. In 2018, two-way trade turnover hit US$ 5.1 billion, representing a 10.8% year-on-year increase. Viet Nam pocketed US$ 3.76 billion from shipping goods to the French. Regarding development cooperation, French is also one of the leading ODA providers for Vietnam. Mr. Dung praised the cooperation among … [Read more...] about Vietnam, France broaden aviation business cooperation

With Vietnam’s new directions on drug registration and materials arriving imminently, private businesses are expected to take the next steps for tenders to venture into the lucrative public hospital system, triggering concerns over mounting competition ahead. Decree 155 will cut procedures for private companies to place stronger interest in pharmaceuticals and cosmetics, Photo: Le Toan The Ministry of Health (MoH) on May 10 held a conference to popularise Circular No.32/2018/TT-BYT on drug registration and materials for drug production, guiding the implementation of Decree No.155/2018/ND-CP, which amends some regulations on the business conditions that pharmaceutical and cosmetics companies faced under the controversial Decree No.54/2017/ND-CP. “Decree 155 has positive changes towards cutting procedures, thus creating favourable conditions for businesses in tenders, drug imports, and others,” said Truong Quoc Cuong, Deputy Minister of Health. One of the … [Read more...] about Competition heats up through new decree changes