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Thai Airways plane (Source: AFP/VNA) Bangkok (VNA) – The Central Bankruptcy Court of Thailand on September 14 approved a request for a debt restructuring plan of Thai Airways International Plc, the nation’s flagship carrier, which has been hit hard by the COVID-19. Thai Airways reduced its stake in May and went to the insolvency court to resolve its debt, which totalled 332.2 billion (10.6 billion USD) by the end of June, according to local media. The carrier, which reported a loss of nearly 900 million USD in the first quarter of this year, is seeking a loan worth around 1.78 billion USD in the short term to operate and pay for its employees. It is expected to submit the debt restructuring plan by the end of this year. The global aviation sector has plunged into crisis by the pandemic as countries severely restricted travel, forcing airlines to ground vast numbers of planes and seek government help as they hemorrhaged cash./. VNA … [Read more...] about Thai Airways receives court greenlight for debt restructuring

An overview of the meeting (Photo: VNA) Hanoi (VNA) – The impressive economic growth in the first seven months of this year reflects the efficiency of the policies that have been applied recently, stated Minister of Planning and Investment Nguyen Chi Dung at the meeting between the Prime Minister and businesses that opened in Hanoi on August 11. The minister said that international organisations have shown optimism about the Vietnamese economy, rating the country’s long-term credit as "stable" and "positive". Many economists held that the Vietnamese economic resilience is relatively good currently, he added. The official cited a recent survey as showing that in the second quarter of this year, 70-80% of total businesses highly valued the effectiveness of the Government’s support to businesses amid the COVID-19 pandemic , especially those in taxation. As of the end of July, the country had 871,000 companies, up nearly 13% over 2019. In July alone, more than 130,000 … [Read more...] about Government’s economic stimulation policies prove effective: Minister

The Grand Ho Tram Strip on Friday announced its ongoing series of entertainment events set against the breathtaking backdrop of The Fountains of Ho Tram. Dubbed Ho Tram Sound Waves, the concert series will see Toc Tien, My Tam and Issac 365 take to Vietnam’s most spectacular stage. Bubbling with energy, pop sensation Toc Tien will be first to grace the six-storey water stage, following the incredible reception that Phuong Vy Idol and Son Tung M-TP received when they inaugurated the Fountains at a VIP event in July. All Sound Waves events will be free to the general public. Speaking at a staff rally earlier this week, Toc Tien said: “I’m honored to be teaming up with TGHTS not once but twice in the same month! It’s even more of a pleasure to be the opening act for such an extraordinary line up of Vietnam’s top artists and of course, I’m positive my colleagues in show business will be just as excited as I am to be a part of this unique project..” “The Fountains of Ho Tram … [Read more...] about The Grand Ho Tram Strip launches fountain-side Sound Waves concert series

Mai Phan Loi at court (Photo: VNA) Hanoi (VNA) – The High-Level People’s Court of Hanoi has reduced the prison sentence handed down to Mai Phan Loi , Chairman of the Scientific Council of the Centre for Media in Educating Community (MEC), by three months in an appeal trial on August 11. Accordingly, Loi will spend 45 months in prison for tax evasion instead of 48 months in the first-instance verdict. His accomplice Bach Hung Duong, MEC Director, also received a revised sentence of 27 months, down from 30 months. MEC was founded in 2012 under a decision by the Vietnam Union of Science and Technology Associations. It is funded mostly by grants and donations from domestic and foreign organisations. As a stakeholder, Chairman of the Founding Board and Chairman of the Scientific Council of MEC, Loi directed MEC’s all activities. From 2012 to March 2021, MEC recorded funding of over 19 billion VND (826,000 USD), but whenever MEC received financial support, Loi … [Read more...] about Mai Phan Loi has jail term reduced by three months

“Army of Culture” contingent both practices and performs On August 9, the “Army of Culture” contingent of the Vietnam People’s Army had a meeting with other heads of participating contingents and referees. The same day, members of the Vietnamese contingent continued practicing to improve their professional expertise. Over the past few days, alongside practice, the Vietnamese “Army of Culture” contingent has performed at a unit under the Russian Ministry of Defense and at the lot-drawing ceremony of the “Tank Biathlon” event of the Army Games 2022. Among 16 members of the “Army of Culture” contingent, 11 are official for the competition. During their stay in Russia, they receive support from 10 Vietnamese volunteer students who are studying in Russia. As planned, the Vietnamese contingent starts the competition on August 13. Qualifying round of the Tank Contingent At the qualifying round of the “Tank Biathlon” event, three crews of Vietnam’s Tank contingent will compete … [Read more...] about Vietnamese contingents to Army Games 2022 continue practicing for official competition day