Mai Linh launches cooperative to attract idle cars Mai Linh Group on November 15 will officially introduce and start the operation of Hoa Binh Xanh Taxi Cooperative in HCMC, which will call for the participation of owners of idle cars. According to the group’s press release, the cooperative is expected to offer more choices to the group’s customers. Early joiners of Hoa Binh Xanh Cooperative will be exempt from the management fee until December 31. They will also receive a uniform, free training courses and practicing certificates. After that, they will have to pay the management fee of only 13.9% of revenues for the duration of their contracts. Hoa Binh Xanh Cooperative will share Mai Linh’s taxi booking app and use call center 1055. The cooperative’s taxicabs will not be forced to have bright colors or be repainted in green, the traditional color of Mai Linh. However, they will have a lightbox highlighting the word “Taxi,” the Hoa Binh Xanh logo … [Read more...] about BUSINESS NEWS IN BRIEF 15/11
Belgium weather forecast
Heavy snow grips Belgium
Heavy snow gripped Belgium on Friday, paralyzing much of the country as roads are jammed and bus services delayed or even suspended. According to local daily Le Soir, the snow has caused traffic jam on some 1,100 km of roads in central Belgium, where the snowfalls were the heaviest since Friday afternoon. In the capital Brussels, the ring road is completely paralyzed, with some parts closed. It takes two hours more than usual to leave the city. Buses in Brussels are not allowed in the city center to avoid the jams. Trams and metros are still working as usual. No flights were reportedly delayed or canceld due to the snow in the Brussels International Airport. Elsewhere in the country, most of the highways are jammed and several accidents have been reported. Some sections of the roads have been shut to circulation. In total 2,500 cars are blocked on the roads of Belgium, according to Le Soir. A number of Thalys high speed trains running between Brussels and Paris also are blocked next … [Read more...] about Heavy snow grips Belgium
BUSINESS IN BRIEF 31/5
VN-Index ends month on high note Shares closed the last trading day of May with mixed results, higher on HCM City Stock Exchange but lower on the northern bourse. Analysts expect a more surprising June. According to FPT Securities, risks eased over the first half of this month, creating opportunities for investors to buy stocks. The VN-Index gained by 3.57 points or as much as 0.64 per cent to end at 562.02 points. The upward trend was maintained for five consecutive days. Large-cap stocks attracted foreign capital inflow, with the VN30-Index seen rising 0.49 to per cent to land at 618 points. There were 16 gainers and 10 losers. Banking stocks posted gains yesterday, including Vietinbank (CTG), Military Bank (MBB), Sacombank (STB) and Vietcombank (VBC). Other gainers included Vingroup (VIC) and Masan Group (MSN), which added VND1,500 (US$0.071) a share each. Meanwhile, Bao Viet Holdings (BVH), Tan Tao Group (ITA), REE Corporation (REE) among seven others slightly dropped. Overall, on … [Read more...] about BUSINESS IN BRIEF 31/5
Social News 10/5
Early summer rain alleviates saltwater in Hau Giang A heavy rain that lasted for one hour on May 9 has helped ease the after-effects of saline intrusion in many parts of the Mekong Delta province of Hau Giang. The rain came as a release after nearly half a month the province bears the brunt of the worst saltwater intrusion in history. In early May, the province had to declare an emergency situation due to high salinity in Vi Thanh City, Long My town and the districts of Long My and Vi Thuy. As of early May, the serious situation caused damage worth 13 billion VND (585,000 USD) in Hau Giang. According to Truong Canh Tuyen, Chairman of the provincial People’s Committee, if the situation continues to get worst, the province will lose another 3,000 hectares of summer-autumn paddies by May’s end. If the intrusion persists in June, there will be a high risk of mass crop failure and many local craft villages will have to suspend operation over materials shortage, he noted, adding … [Read more...] about Social News 10/5
BUSINESS IN BRIEF 1/12
Overseas remittances to hit US$12 billion in 2014 Banks predict that remittances from overseas Vietnamese will reach US$12 - 13 billion this year. Over the past three years, the country has seen a sharp increase in remittances, from US$9 billion in 2011 to US$11 billion in 2013. Head of the Ho Chi Minh City branch, State Bank of Vietnam, Nguyen Hoang Minh said Vietnam would remain in the list of the world’s top 10 remittance recipients with US$12.1 billion, up about 10% compared to a year earlier. Similarly, the Bank for Investment and Development (BIDV)’s also forecast a 10% increase in overseas remittance to US$12 billion by the end of this year. Meanwhile, General Director of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) Le Duc Tho expected the figure to hit US$13 billion in 2014. The rising remittances, together with strong inflows of direct foreign investment (FDI) and official development assistance (ODA) will make Vietnam’s … [Read more...] about BUSINESS IN BRIEF 1/12