However, there still exist doubts about debt payments and business performance. Pha Lai Thermopower Company reported a net profit of VND242.6 billion for Q1, a sharp increase of 27 percent in comparison with the same period last year. One of the reasons behind the sharp rise in profit, as explained by Pha Lai, was the higher electricity selling price. POW also reported satisfactory business results with net profit of VND915 billion, an increase of 17 percent. Phu Hung Securities commented that POW and other thermopower plants will be able to sell more power to EVN because of unfavorable hydrological conditions for hydropower plants, while the selling price will be better because of the short supply. Vinacomin, the coal miner and supplier to most thermopower plants, unexpectedly had profits of VND1 trillion in Q1, the highest level in many years. As for EVN, one of power generators and the only retailer, plans to earn VND20 trillion more from the 8.36 percent electricity price increase. … [Read more...] about Is Electricity of Vietnam making a profit or taking a loss?
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Can Tho’s export revenue grows 13 percent in Q1 Processing tra fish for export at the Southern Fishery Industries Co. Ltd in Can Tho city The Mekong Delta city of Can Tho exported 447.8 million USD worth of goods in the first three months of 2019, up 13.32 percent year on year, according to the municipal Department of Industry and Trade. Aquatic products and rice remained the key foreign currency earners for the city during the first quarter. Nearly 46,500 tonnes of aquatic products worth 132.57 million USD were shipped abroad, respectively rising by 27.29 percent and 10.78 percent against the same period last year. The biggest markets were Japan, Singapore, Mexico, Brazil, and Hong Kong (China). Seafood exporting companies said the shipment of shrimp and tra fish products has benefited from many preferential tariffs in other member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as from March. Therefore, they have been applying … [Read more...] about BUSINESS NEWS IN BRIEF 3/4
Vietnamese entrepreneurs and government officials took the stage at the Vietnam Business Summit to share their ideas on coping with the Fourth Industrial Revolution President and CEO of Vietjet Nguyen Thi Phuong Thao, representing Vietnamese entrepreneurs, took the stage at Vietnam Business Summit (VBS), which was held on September 13 in Hanoi as part of the World Economic Forum on ASEAN 2018 (WEF on ASEAN), to address the discussion and share her experience of growing a successful business. Vietjet president and CEO Nguyen Thi Phuong Thao inspired startups Startups should have big dreams Themed “Vietnam – Reliable Business Partner: Connectivity and Creativity,” VBS focused discussions on the role of Vietnam in regional and global value chains, as well as introducing policies and business and investment opportunities, particularly in the fields of finance and infrastructure. At the second session of VBS, which focused on introducing new business … [Read more...] about Vietjet CEO: Realise your dreams
Thousands of experts and activists descend on Amsterdam Monday to bolster the battle against AIDS amid warnings that "dangerous complacency" may cause a resurgence of the epidemic that has already killed 35 million people. Rather than closing in on the goal of "ending" AIDS, new HIV infections have surged in parts of the world as global attention has dwindled and funding levelled off, say leaders of the anti-AIDS movement. And they lament that too fine a focus on virus-suppressing treatment has overshadowed basic prevention with the result that HIV is still spreading with ease among the most vulnerable people. "The encouraging reductions in new HIV infections that occurred for about a decade has emboldened some to declare that we are within reach of ending AIDS," said Peter Piot, a veteran virus researcher and founder of the UNAIDS agency. However, "there is absolutely no evidence to support this conclusion," he insisted, and warned: "the language on ending AIDS has bred a dangerous … [Read more...] about ‘Dangerous complacency’ looms over world AIDS meeting
Former Malaysian prime minister Najib Razak's stepson Riza Aziz arrives to give a statement at the Malaysian Anti-Corruption Commission headquarters in Putrajaya, outside Kuala Lumpur on Jul 3, 2018. (Photo: Mohd RASFAN/AFP) Former Prime Minister Najib Razak was arrested Tuesday in the 1MDB graft probe set up by his successor, which has engulfed the ex-leader and his cronies since his shock loss at elections in May. Here is a look back at the saga: WHAT IS 1MDB? 1Malaysia Development Berhad (1MDB) is a state investment fund which Najib launched in 2009 shortly after becoming prime minister. Its portfolio has included power plants and other energy assets in Malaysia and the Middle East, and real estate in Kuala Lumpur. The fund was closely overseen by Najib. Whistle-blowers say Low Taek Jho, or "Jho Low", a shadowy, jet-setting Malaysian financier close to Najib but who has no official positions, helped set up 1MDB and made key financial decisions. After the scandal emerged, Najib … [Read more...] about 1MDB: Malaysia’s extraordinary financial scandal