SBV sets annual credit growth limits, 15 percent for best banks

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2019 credit growth limit has been assigned to each commercial bank by the State Bank of Vietnam (SBV), with priority given to Vietcombank, VIB and OCB as those banks met Basel II’s capital safety and risk management standards ahead of schedule.

According to a report on VNS, based on the current regulation of Vietnam, the SBV sets a credit growth limit for the entire year for each bank – depending on its health – to ensure the credit growth target of the entire banking system during the year (14 per cent for 2019).

This year, the highest credit growth limit of 15 per cent was assigned to the group of banks which met the Basel II’s standards earlier than the SBV’s deadline of 2020. The remaining banks, meanwhile, were allocated a lower rate of below 12 per cent.

Last year, most banks were assigned higher credit growth limits, ranging from 14 per cent to 16 per cent.

The credit growth target of the entire banking system and of each bank has tended to slow in the past two years. Experts attributed the slowdown to the SBV’s policy changes. Previously, due to the underdevelopment of the local stock market, banks, which should act only as intermediaries in the monetary market, had to function to fund medium- and long-term capital for the economy.

However, the SBV has tried to gradually change the role of banks so as to make them fund only short-term capital for the economy through the provision of working capital loans for businesses and households.

To make the change, the SBV required banks to lower the ratio of short-term funds for medium and long-term loans from 45 per cent in 2018 to 40 per cent since early this year.

Experts have also agreed with the credit growth slowdown, saying it was necessary to improve banks’ credit quality and risk management.

Nguyen Xuan Thanh from Fulbright University Vietnam said currently, the pressure on credit growth to support economic growth was not so high, so the allocation of a credit limit to each bank depending on its health was reasonable. Accordingly, banks should only boost credit in case of good control of risks, in order to ensure sustainable growth.

To offset the revenue reduction from lending activities, banks said they plan to increase profits through cutting operating costs and promoting digital services.

The focus on digital banking combined with retail banking has also helped some banks, like Vietcombank, Techcombank, TPBank and VIB, increase their number of individual customers rapidly in recent years, which has also contributed to raising the banks’ current account savings accounts (CASA) significantly.

Reports showed some banks last year raised CASA to 28-30 per cent in the total structure of deposits. The large proportion of low-interest rate deposits has helped banks reduce mobilization and operating costs, increasing profits and improving marginal interest in lending.

Vietnamese woman accused of killing Kim Jong-un’s brother will walk FREE very soon

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  • Kim Jong Nam, 45, was killed with nerve agent at Kuala Lumpur’s airport in 2017
  • Doan Thi Huong and Siti Aisyah claimed they thought they were pulling a prank
  • Huong is set to walk free on May 3 after she pleaded guilty to ‘causing injury’
  • Malaysian prosecutors dropped murder charge after pressure from Vietnam

A Vietnamese woman accused of killing the half-brother of North Korean leader Kim Jong Un will walk free on 3 May, her lawyer said Saturday.

Following diplomatic pressure from the Vietnamese government, Malaysian prosecutors had dropped the murder charge against Doan Thi Huong on 1 April.

Subsequently, the 30-year-old former hair salon worker pleaded guilty to “causing injury” and was handed a three year and four-month jail term effective from the date of her arrest in February 2017 and later reduced for good behavior.

The brazen killing of Kim Jong Nam with a toxic nerve agent at Kuala Lumpur’s international airport in broad daylight shocked the world.

Seoul accused Pyongyang of plotting the Cold War-style hit as Malaysia allowed the two women’s suspected North Korean handlers to leave in the days after the murder.

“We have been told by prison authorities that Huong will be freed on 3 May,” lawyer Salim Bashir told AFP.

“Huong is in a jovial mood. The young woman is expected to be immediately flown to Hanoi.”

Last month the charge against co-accused 27-year-old Indonesian suspect Siti Aisyah was dropped.

During the women’s long-running trial which began in October 2017, the court was shown CCTV footage of them approaching Kim as he waited for flight, one of them placing their hands on his face, and then both of them running to bathrooms before fleeing the airport.

But the pair always maintained they were innocent pawns in a plan hatched by North Korea and believed they were carrying out pranks for a reality TV show.

The women would have been sentenced to death by hanging if convicted of murder.

The women’s lawyers said the real masterminds were four North Koreans who were seen at the airport on the day of the murder meeting the pair, and who fled after the assassination. The four were charged in absentia along with the women over the killing.

“Obviously Huong deserves this freedom after her long incarceration. She is looking forward to being with her family and friends,” her lawyer Salim said.

- AFP/ EWN

Vietnam arrests the former chairman of Audio Visual Global (AVG) Pham Nhat Vu

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Pham Nhat Vu, 47, the former chairman of Audio Visual Global (AVG) has been has prosecuted and arrested by Vietnam’s Ministry of Public Security due to Mobifone’s acquisition of AVG

According to a report on VNExpress, the Ministry of Public Security of has issued a decision to prosecute and detain Vu on Friday, April 12 for further inspection on the Crime of Bribery in accordance to Item #4 of Article 364 of the 2015 Penal Code of Vietnam.

Related topic: Pham Nhat Vu buys Vermelha Station to invest heavily in Australian cattle industry

Bribery is the offer or acceptance of anything of value in exchange for influence on a government/public official or employee. In general, bribes can take the form of gifts or payments of money in exchange for favorable treatment, such as awards of government contracts. Other forms of bribes may include property, various goods, privileges, services and favors.

Pham Nhat Vu | Photo credits: Vietnam Finance

Last July, Le Nam Tra, 58, former MobiFone chairman and Pham Dinh Trong, 49, then-current head of the MIC’s enterprise management department, got arrested for alleged charges of State capital mismanagement.

Three months later, former MobiFone general director Cao Duy Hai, 58 and then-incumbent MobiFone deputy general director Pham Thi Phuong Anh, 44 were in the same boat.

In Feb 2019, Vietnam police arrested Truong Minh Tuan, 58, former Minister of Information and Communications, and his predecessor Nguyen Bac Son, 65, based on the findings of further investigations and fresh evidence, the agency prosecuted Nguyen Bac Son and Truong Minh Tuan on charges of suspected “violations of regulations on the management and use of public capital that cause serious consequences,” in accordance with the 2015 Penal Code.

Mobifone office

MobiFone is one of 3 largest telco in Vietnam, which had made headlines early in 2016 when it announced it was breaking into the pay TV market with the acquisition of a 95 percent stake in AVG. But the Government Inspectorate concluded the deal, which had not been approved by Vietnam’s Pprime Minister, had violated investment laws and caused an estimated loss of around $307 million to the government.

In August 2016, the Vietnamese government ordered an across-the-board inspection into the acquisition. MobiFone in May 2018 said it had been refunded in full by AVG after the deal between the companies fell through.

- VNE/ SGT

Vietnam to face an increase in energy demand as economy is growing rapidly

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The ASEAN Post Team

With a rapidly growing economy, Vietnam is facing an increase in energy demand which is forecasted to grow 10 percent annually. The Vietnam Energy Outlook Report 2017 released by the Vietnamese government in collaboration with the Danish Energy Agency states that electricity demand is expected to grow eight percent annually until 2035.

Vietnam’s economy is forecast to grow at a rate of between 6.5 and 7.5 percent per year from now until 2030 – resulting in additional demand for energy. At the moment, Vietnam is looking to expand its coal sector to meet this growing energy demand.

Currently, the use of coal in the region is quite substantial. From 2000 to 2015, the biomass and hydro share of the total primary energy mix in Vietnam dropped to 24 percent from 53 percent while coal share grew from 14 percent to 35 percent of the total energy supply.

Vietnam already has more than 20 coal-fired power plants with a total capacity of over 13,000 megawatts (MW). Data from S&P Global Platts, a provider of energy and commodities information, shows that Vietnam’s coal imports in April 2018 hit a record of 2.3 million tonnes, up 132.5 percent year on year. These numbers might already seem staggering but Vietnam’s coal usage in the future would most likely be significantly higher.

More coal in the energy mix

According to a Fitch Solutions report in February, coal will make up 50.5 percent of energy generation by 2028 compared to 22.5 percent for gas. Vietnam also plans to increase the number of coal-fired plants to 32 by 2020 and 51 by 2030. If that goes through, the 32 coal-fired plants in 2020 will be burning 63 million tons of coal per year. Around 129 million tons of coal per year will be burnt by the time all 51 plants are fully operational.

While Vietnam looks to develop its coal sector, more countries are starting to abandon coal and move to greener or less-damaging resources such as natural gas or renewables like solar and wind power.

The government there last month announced plans to build four gas-fired plants with a total capacity of about 6,000 MW with Thailand’s Gulf Energy Development in a deal worth US$7.8 billion. Not only will this make Vietnam one of the world’s newest liquefied natural gas (LNG) importers, it will also cut its coal use.

 

Source: Various

The attractiveness of coal to Vietnam is probably its affordability. However, Vietnam has been facing a backlash for its plans to increase the use of coal in the country. In the summer of 2016, World Bank president, Jim Yong Kim rebuked Vietnam for their coal plans. “If Vietnam goes forward with 40 GW of coal, if the entire region implements their coal-based plans right now, I think we are finished,” said Jim Yong Kim.

Environmental issues

Most, if not all the concerns surrounding Vietnam’s increased dependence on coal are environmental in nature. A recent study by Harvard University and Greenpeace revealed that existing coal plants cause an estimated 4,300 premature deaths every year. This number could rise to 25,000 premature deaths per year. This loss of life is preventable if Vietnam refocuses its sights on renewable and sustainable energy.

Vietnam has already included a renewable energy development strategy into its energy plans. In fact, Vietnam is making great strides in developing its hydropower, solar, and wind capacity.

Despite that, coal still remains a priority for the state. As long as coal is cheaper compared to other sources of energy, it will remain the number one choice. It also doesn’t help that foreign investors are making huge investments in the country’s coal sector. In 2017, total foreign investment into coal projects in Vietnam was worth around US$20.5 billion.

If Vietnam is serious in its pledge to reduce carbon emissions to eight percent by 2030, it needs to rethink its coal plans for the future. It needs to realize that it already has great potential for renewable energy and shouldn’t be depending on coal.

A 2017 report by the World Wildlife Fund for Nature (WWF) Vietnam and Vietnam Sustainable Energy Alliance highlighted that 100 percent of Vietnam’s power could be generated from renewable energy by 2050. With a growing economy, Vietnam has to invest in sustainability and lead the way in showing that economic growth and sustainability can go hand in hand.

Hanoi Attractions: National Museum of Vietnamese History

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Built between 1925 and 1932, this architecturally impressive museum was formerly home to the École Française d’Extrême-Orient.

Its architect, Ernest Hebrard, was among the first in Vietnam to incorporate a blend of Chinese and French design elements. Exhibit highlights include bronzes from the Dong Son culture (3rd century BC to 3rd century AD), Hindu statuary from the Khmer and Champa kingdoms, jewellery from imperial Vietnam, and displays relating to the French occupation and the Communist Party.

A free audio guide is included.

 

By Lonely Planet

Tourists are no longer welcome at The Pedagogical College of Da Lat

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The Pedagogical College of Da Lat, a must-see for tourists visiting the beautiful capital city of the Central Highlands province of Lam Dong, will close its doors to visitors starting today, April 12, the school’s management board announced on Thursday.

Built in the heart of Da Lat using a combination of Western and Oriental architecture styles, the Pedagogical College of Da Lat has become a popular tourist attraction due to its quaint and charming ambiance.

However, those who have yet to visit the iconic school of Da Lat may never have the chance to do so, as the school’s management team has declared that visitors will no longer be permitted on campus due to security reasons and to protect the school’s landscape.

Aside from prohibiting tourists from entering the school, the college will continue to operate as usual.

A school staffer revealed to Tuoi Tre (Youth) newspaper that the decision was made in response to concerns that pressure from the massive number of visitors to the school was putting a serious strain on its facilities, sanitation, and security force.

“The college welcomes over 70,000 visitors every year, constituting a significant portion of our operational costs, even though it is designed to function as a small-size educational institution,” the staff told Tuoi Tre.

A huge chunk of the school’s operational expenses goes toward cleaning trash left behind by tourists, the staffer said.

The news comes as a serious disappointment to Da Lat lovers.

“It’s a pity that the school will stop welcoming visitors,” said Tran Tuan Tien, a Ho Chi Minh City resident currently visiting Da Lat.

“But it would be a greater pity if tourism caused damage to the school’s architecture,” Tien added.

Some have even suggested that the Pedagogical College of Da Lat begin collecting entrance fees from visitors to offset the cost of maintaining the architecture and landscape.

The Pedagogical College of Da Lat was built between 1926 and 1935, and is the only construction work in Vietnam recognized by the Union of International Architects (UIA) as one of the world’s 1,000 most unique buildings constructed in the 20th century, according to local news outlet.

It was acknowledged as a National Architecture Relic on December 28, 2001.

The building began to deteriorate in 1975 due to improper use.

Randomly repairs made without permission from state agencies that oversee heritage management led it to decline further.

A number of its classrooms have been converted into accommodations for teachers and officers from other localities visiting Da Lat for working trips.

Several school staffers even live inside the school and have turned classrooms into ‘apartments’ in which they live and raise children.

According to a report on Tuoi Tre

Useful Vietnamese platform for e-learning introduced

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The e-learning platform Tesse, developed by 26-year-old Nguyen Pham Tuan Anh and partners, is one of the first Vietnamese platforms to allow the creation of virtual classes to upgrade knowledge of the community.

When in university, Nguyen Pham Tuan Anh, an amateur in the information technology (IT) field, often wondered why Vietnamese people did not have a good habit of consulting experts or obtaining sufficient profession knowledge before making important decisions.

He therefore sought the partnership among his friends who specialized in IT to create a knowledge sharing platform so that people could easily approach new information by searching, connecting, and interacting with experts. That was the beginning of Tesse.

At first, he and his partners encountered various obstacles, from the doubt of the public in using a domestic IT product or the fear of trying something new to the unfamiliarity to the e-learning concept. At that time, not even 10 percent of the society were aware of virtual learning on the Internet.

Recalling the memory of those days, Tuan Anh shared that Vietnamese IT engineers are in no way inferior to their international counterparts, yet they seriously lack confidence to startup by themselves.

In October 2018, Tesse was first launched onto the domestic market as an e-learning tool. It allows smart device users to search and register for virtual lessons taught by professionals, or to create a new learning community in diverse fields and levels.

Until now, via Tesse, members can take advantage of several technological tools like video call, chat group, message and email to connect to one another for educational purposes. Tesse also offers a wide range of classes and experts via its powerful search function. Users can enter keywords for certain skills, knowledge, problems, and Tesse will display recommendations on related experts or professional articles. From this, these users can choose to make a chat or video call directly to those listed experts for further consultation.

At the moment, Tesse has more than 7,000 members, including 10 international professionals.

The prominent feature of Tesse is that its online classes allow an unlimited number of participants. It is expected that at the end of this April, Tesse will introduce the new function of testing when a class ends in order to issue a certificate for learners. The website is also going to include more fields like programming, trading, finance, or self development to serve a wider educational demand of users.

According to a report on SGGP

Da Nang to host Ironman 70.3 Asia-Pacific Championship next month

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Da Nang will be the venue for the fifth Ironman 70.3 – Asia-Pacific Championship next month, as Vietnam plays host to the regional version of the long-distance triathlon race for the first time.

Nearly 2,200 triathletes, including 40 professionals, from 50 countries and territories will be competing in the race in the Vietnamese coastal city from May 9 to 12.

Vietnam is only the second country in Southeast Asia to host the Ironman 70.3 Asia-Pacific Championship after the Philippines in 2018, the organizing board announced at a press conference in Da Nang on Wednesday.

An Ironman 70.3 is a triathlon event where athletes – individuals or teams – complete in a 1.9km swim, 90km bike and 21.1km run, a total of 113km, or 70.3 miles – half the distance of a full Ironman.

The race in Da Nang will see triathletes swim, bike and run on a coastal track along My Khe beach, with a total cash prize of US$75,000.

The top 50 individual finishers in their age groups will be qualified for the Ironman 70.3 World Championship in Nice, France on September 7 and 8.

Besides the event for professionals, the Sunrise Sprint, with a 750m swim, 20km bike ride, and 5km run, will be held for amateurs.

In addition, the organizing board will host a 5km run to raise funds to help reduce infant mortality in Vietnam, and Iron Kids for children of two age groups – five to ten and 11 to 14.

According to the event’s organizing board, multi-time Ironman World champions Patrick Lange and Craig Alexander, former Ironman 70.3 World champion Holly Lawrence, and defending Ironman 70.3 Vietnam champion Radka Kahlefeldt will also partake in next month’s race.

Da Nang has played host to the Vietnamese edition of the triathlon race, called the Ironman 70.3 Vietnam Championship, since 2015.

Last year’s event in the central city attracted more than 1,600 people from 56 countries and territories, including 600 Vietnamese participants.

The race helped raise more than $50,000 to support Newborns Vietnam, a UK-registered non-governmental organization dedicated to reducing neonatal mortality in Southeast Asia, with a specific focus on Vietnam.

According to a report on Tuoi Tre

Hanoi plans to execute 15 transport projects

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The Hanoi People’s Committee Hanoi will submit to the City People’s Council for approval on 18 projects of the period of 2016-2019, including 15 transport infrastructure projects.

Accordingly, 15 transport infrastructure projects include the first phase of Dang Thai Mai route (Tay Ho district). This is the project with the highest cost of over VND561 billion (US$24.1 million) by the Tay Ho District People’s Committee. The schedule for implementation is between 2019 and 2021.

Hanoi will also build a ring road of Bac Phu Cat Industrial Park in Quoc Oai district. The project has a total investment of VND482 billion (US$20.7 million) by the Quoc Oai District People’s Committee, and is expected to be completed in 2020.

The city will expand Nguyen Phong Sac street in Cau Giay district, costing more than VND477 billion (US$20.5 million) in 2019-2022.

In addition to above-mentioned projects with major total investment, Hanoi will also invest in other transport projects in rural districts and on the outskirts.

The projects will be discussed and approved by the City People’s Council at a meeting convened on April 9.

According to a report on Hanoitimes

Vietnam Is Winning the Trade War

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By Scott Lanman and Stephanie Flanders

The trade war between the U.S. and China is taking a toll on growth in the world’s two largest economies, but there’s another nation where the tariff battle is producing a clear winner: Vietnam.

On this episode of Stephanomics, hosted by Bloomberg Economics head Stephanie Flanders, reporters Michelle Jamrisko and Uyen Nguyen visit a furniture maker in Hanoi to get a sense of how companies are profiting from the U.S.-China tensions. Stephanie also talks with Bloomberg Opinion columnist Daniel Moss about the trade war and other forces shaping Asia’s economies, then catches up with Bloomberg trade-coverage czar Brendan Murray about the implications of an interesting recent World Trade Organization decision.

Listen to the interview on Bloomberg

Vietnam plans to build new airport in Sapa

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The People’s Committee of Lao Cai, the Vietnam’s mountainous northwest province has asked the Prime Minister to approve in principle a project to develop a new airport worth more than US$254.5 million near Sapa township, one of Vietnam’s top tourist attractions.

In the proposal, the provincial authority stated that the project can be financed by the State budget and private funds under public-private partnerships through build-operate-transfer contracts.

Construction of Sapa Airport to be started before 2020

More than US$133 million from the central State budget should be allocated to develop the airport, including runways, taxiways and aprons, as well as arterial roads to and from the airport.

Private companies will invest 30 percent, or US$77 million in a public-private-partnership model where they will operate the airport to recover investment before handling it back to the state.

Lao Cai Province will invest 15 percent, or US$39 million, for land acquisition and relocation, while the Vietnam Air Traffic Management Corporation (VATM) will invest the remaining 2 percent, US$5 million, for air traffic control facilities at the airport.

The airport will be located in Cam Con Commune of Bao Yen District on some 371 hectares of land, roughly 100 kilometers away from the frontier township of Sapa and will be used for both civilian and military purposes.

The early construction of the airport is deemed necessary and aligned with a number of master plans, according to the local government.

The airport is expected to meet the zoning plan criteria for airports by 2020, with a vision toward 2030, as approved by the prime minister.

In particular, the airport will meet the 4C standards of the International Civil Aviation Organization and Vietnam’s level-two standards for military airports.

The airport will have a capacity of 2.5-3 million passengers annually and will have nine aircraft-parking spaces able to accommodate mid-sized Airbus A320 and A321 planes, or similar aircraft models.

Lao Cai province is situated in the economic corridor of Kunming-Lao Cai-Hanoi-Haiphong that boasts strong trade links with southwestern China.

In 2018, Lao Cai welcomed 4.2 million visitors, up 20 percent from 2017. 720,000 of them were international tourists.

In the past a large number of tourists traveled to the town by train from Hanoi to Lao Cai. But since the $1.5-billion Noi Bai-Lao Cai Expressway was opened in September 2014, many have found a five-hour bus ride more appealing than an eight-hour trip on the train.

 

- VNE/SGT/VI

20 Vietnamese banks will be audited for non-performing loan

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The State Audit Office of Vietnam (SAV) has recently published an audit plan to audit the accounts of 20 state-own and joint-stock commercial banks for their performance in resolving bad debts.

Accordingly, Vietinbank, BIDV, and Vietnam Asset Management Company (VAMC) will be audited. The 18 other joint-stock commercial banks are ABBank, ACB, BacABank, CBBank, Eximbank, GPBank, HDBank, NamABank, OCB, Sacombank, SeABank, SHB, Techcombank, VietCapitalBank, VIB, VietABank, VietBank, and VPBank.

By auditing specific dossiers, the SAV will clarify what difficulties the banks are facing in resolving bad debts (non-performing loan). As for VAMC, the authority will also assess the trading and resolution of non-performing loan and securities purchased from commercial banks. Hoang Van reports on Vietnam Investment Review.

Previously, a report of the State Bank of Vietnam’s (SBV) Supervision Department stated that credit organizations solved a total of $6 billion of bad debts between August 15, 2017 and June 30, 2018. This includes $3 billion in their internal balance sheet, $934.8 million on their external balance sheet, and $2 billion of debts sold to VAMC in the form of special bonds.

Besides, local credit organizations utilized $2.65 billion in provision to deal with the non-performing loan on their internal balance sheets.

Financial reports from the last fourth quarters showed that the volume of non-performing loan has fallen significantly against early last year, with the decrease reaching even 50 per cent at some banks.

According to the available financial reports of the commercial banks, which will be audited, the total non-performing loan in 2018 was more than $1.51 billion, down 17 per cent on-year.

On the other hand, a large number of banks have yet to get ahead with their bad debts, leading to high provisions for risk. For instance, as of the end of 2018, VPBank’s bad debts stood at $337.7 million, down $69.6 million against late last September 2018, but up 25 per cent against early last year. Agribank and Vietinbank are similar cases.

Read full article on VIR

Julian Assange is an activist, not a journalist: CNN

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By Frida Ghitis
Editor's note: Frida Ghitis, a former CNN producer and correspondent, 
she is a world affairs columnist. The opinions expressed in this commentary are those of the author.

The images were shocking but not unexpected — a bedraggled Julian Assange removed from the Ecuadorean embassy in London Thursday by British police after nearly seven years of confinement. The Wikileaks founder had finally reached the end of his long and contentious asylum. And his much-delayed encounter with justice has arrived.

Assange, Wikileaks and their supporters maintain that Britain, by arresting Assange on a US extradition warrant, is an accomplice to an assault against press freedom, arguing that their work, obtaining and releasing massive amounts of secret data, is not a crime.

But Assange’s claim that he is a journalist is false, as he has proven time and again. That he is not a journalist, however, will not preclude authoritarian governments from using his case to thwart the legitimate media.

Assange should face justice, but the process will be a perilous one for the free press. If handled correctly by the courts, it should result in the development of a functioning definition of what a journalist is, depriving propaganda outlets and government agents of using the label to take cover — and providing the press with the protection it needs to inquire, investigate and report.

Assange entered Ecuador’s embassy in 2012, fleeing potential extradition to Sweden, where he faced sexual assault charges. Sweden dropped the case on a technicality, but prosecutors say they may reopen that case.

In the embassy, Assange, who suffers no shortage of self-regard, became a nightmare for his hosts. Then-President Rafael Correa, an ally of Russian President Vladimir Putin, granted him asylum and citizenship, which has now been suspended. But his successor, President Lenín Moreno, had little patience for his troublesome guest. Assange interfered in other countries’ politics and created foreign relations problems for Ecuador.

On Thursday, Moreno announced a deal with the UK. Assange, he said, had “repeatedly violated asylum conventions,” breaking into embassy archives and mistreating guards. The British, Moreno said, gave written assurances that they would not extradite him to a country where he could face the death penalty, a point sure to receive scrutiny.

Much of what will come next centers on whether Assange is a journalist. Edward Snowden, under asylum in Russia after he released secret US government documents, called the arrest “a dark moment for press freedom.” Wikileaks maintained the United States wants to “prosecute a publisher for publishing truthful information.” But history undercuts their claim.

Assange and Wikileaks captured headlines and rocked government in 2010, when they released a trove of Pentagon and State Department documents stolen by Chelsea Manning, an Army intelligence analyst. Assange reveled in his fame and declared himself a champion of “radical transparency.” Over time it became evident that his quest for transparency was not universal. Instead, Assange and his group have shown their agenda is anything but that. They are curiously selective in their targets, and their work has hewed closely to Putin’s agenda.

Wikileaks figures prominently in the Mueller investigation of Russian interference in the 2016 election. The July 2018 indictment of 12 Russian agents describes how GRU, Russian military intelligence, worked closely with “Organization 1,” Wikileaks, in its conspiracy against the United States.

Assange worked diligently to advance Putin’s goals. The Russian President wanted Hillary Clinton to lose, and Assange went out of his way to help. There is ample evidence from Wikileaks and from Guccifer 2.0 — a persona created by GRU to cover its tracks — that the Russians stole Clinton’s campaign emails and gave them to Wikileaks to reveal at the most harmful possible moment.

Assange also made extra efforts to smear the Clinton campaign, advancing conspiracy theories he knew were false. After Seth Rich, who worked at the Democratic National Committee, was killed in a robbery, far-right activists and media promoted the claim that he had been killed by Clinton supporters after releasing DNC documents to Wikileaks. Assange knew that was not true because Wikileaks got the emails from Russia. And yet he stoked the fires, helping Russia camouflage its spy work.

In an interview on Dutch television, he said provocatively, “there’s a 27-year-old who works for the DNC who was shot in the back, murdered for unknown reasons.” When the interviewer asked what he was suggesting, Assange replied, “I’m suggesting our sources take risks…”

That is not the work of a journalist. It looks much more like the work of a man deliberately collaborating with a hostile foreign power to deceive the public.
A look at the subjects of Wikileaks revelations shows a similar pattern. Much of the material they have distributed undercuts the United States, particularly its diplomatic and security operations. In contrast, they have revealed very little about Russia.

In 2017, amid intense concerns about Russia and Wikileaks’ role in the 2016 election, the group released something it called the “Spy Files Russia.” Lily Hay Newman of Wired wrote the data dump was “fishy,” saying it was different from other Wikileaks material, with much of it already public — suggesting the release was approved by Russia, “meant to defray criticism” that the Kremlin and Wikileaks had worked together.

But while Assange is not a journalist, his arrest does present a potential threat to other journalists. One can easily foresee someone like President Donald Trump using the precedent against others reporting information he doesn’t like. If a man who claims he is a journalist can be arrested and prosecuted for his work, others could also be charged.

But what is a true journalist? Definitions abound. For one, according to the American Press Institute, journalists should aim to pursue the truth, “assembling and verifying facts … (and trying) to convey a fair and reliable account of their meaning.” Deliberately lying, as Assange did on the Rich case, shows he is not a journalist and therefore not entitled to the protections that the law — and democracy — demand for legitimate journalists.

Assange’s actions over the years have sent shockwaves around the world. His dramatic arrest and its aftermath could end up having the greatest impact of all.

- CNN

Vietnam’s Bamboo Airways Picks Boeing Rival Airbus for Narrow-Body Jets: Bloomberg

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By Nguyen Kieu Giang and John Boudreau, Bloomberg

Startup carrier agrees to acquire as many as 26 more A321neos
Carrier said last month it was considering Boeing 737 Max

Vietnam’s Bamboo Airways doubled down on Airbus SE’s A321neo aircraft by agreeing to buy as many as 26 of the narrow-body jets, picking the rival to Boeing Co.’s 737 Max for its expansion in one of the world’s fastest-growing aviation markets.

The startup carrier agreed to six firm purchases of the A321neo and an option to buy 20 more, Chairman Trinh Van Quyet said in an interview Thursday. The total value of the deal would be $6.3 billion, based on the list price, he said.

Photographer: Maika Elan/ Bloomberg

The agreement comes a month after Quyet said his airline was considering an order of as many as 25 of the 737 Max. The carrier hasn’t engaged in negotiations with Boeing, he said, declining to comment further on the Boeing model that’s been involved in two disasters in five months.

Pressure is building on Boeing’s order book for its 737 Max, the company’s all-time fastest-selling plane, after the deadly crashes. Indonesia’s flag carrier PT Garuda Indonesia has asked to cancel an order for 49 of the aircraft and airlines worldwide have grounded their fleets, leaving the model’s immediate future in the balance.

“We have the intention to buy wide-body aircraft from Boeing and narrow-body planes from Airbus,” Bamboo’s Quyet said.

The deal would bring the airline’s fleet of A321neos to 50. Bamboo, whose parent company is property and leisure company FLC Group, agreed last year to buy 24 A321neo planes.

In February, Bamboo signed a contract to purchase 10 Boeing 787-9 Dreamliners worth about $3 billion during President Donald Trump’s visit to Hanoi for his summit with North Korean leader Kim Jong-Un. In June, the airline signed a commitment for 20 Dreamliners with a list price of $5.6 billion.

“There are sentiments going around, just psychological sentiments,” he said, in answer to a question about the effect of the grounding of the 737 Max. “Airplanes are still the safest means of transportation.”

On March 10, an Ethiopian Airlines 737 Max 8 crashed shortly after takeoff, killing 157 people. An identical Lion Air plane plunged into waters off Indonesia in October. None of the 189 passengers and crew on board survived.

Another Vietnamese carrier, VietJet Aviation JSC, said it will make a decision on future plans to use the aircraft after U.S aviation officials issue results of their investigation into the second 737 Max crash. The Vietnamese budget carrier had ordered 200 Max planes — worth about $25 billion before the usual discounts.

Bamboo, which began service in January, expects to begin flying to Europe in June, Quyet said.

Vietnamese ride-hailing firm FastGo plans to launch helicopter ride-sharing service

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FastGo, a Vietnamese ride-hailing firm plans to launch the helicopter ride-sharing service in Hanoi this month, focusing on tourism in northern provinces.

Nguyen Huu Tuat, CEO of FastGo confirmed with media that, FastSky’s first flight will take off on April 25.

With 12 passengers to a helicopter, FastSky will operate tours from Hanoi to northern tourist destinations such as the Red River and Ha Long Bay.

“Apart from SkyTour, we’ll also operate SkyWedding services for wedding photography and SkySOS for emergencies in which helicopters will land on Hanoi skyscrapers to pick up patients,” Tuat said.

Prices vary for each service. A tour will cost a minimum of $125 per person, which can be paid in installments over a period of 12 months.

Tuat said: “We offer premium services for businesspeople but also want everyone to have a chance to fly. FastSky will be a game-changer in the transport industry.”

FastGo only provides technology solutions while helicopters and pilots are provided by a partner who is permitted to fly in Vietnam, he said, but declined to reveal the company’s name.

FastGo began operations last June, a few months after Uber announced its exit from Southeast Asia.

The company, part of Vietnamese technology start-up NextTech Group, expanded to Myanmar last December.

It plans to launch operations in Singapore this month and in five other countries in the region, including Indonesia and the Philippines, by the end of the year.

With almost 60,000 drivers on board, the company claims to be the second most popular ride-hailing firm in Vietnam after Grab.

- VNExpress
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