A fire broke out at a house on the capital city’s La Thanh Street, near the Central Children Hospital, on September 17, forcing patients and their families in parts of the hospital to be evacuated.
Reportedly starting at around 6pm, the fire later spread to seven neighbouring houses and was approaching the hospital with smoke seen billowing from the area
All patients being treated in the B and C sections of the hospital were evacuated, NDO reported.
Many fire engines were dispatched to the scene, while several nearby streets were cordoned off. Traffic through La Thanh Street was also diverted to other routes.
The fire was mostly contained by 8pm with no reports of human casualties. The cause of the fire is now under investigation.
The fire broke out at a house on La Thanh Street. (Photo: Truong Son)Assets of nearby shops were moved outside to prevent them from catching fire. (Photo: Minh Ha)Evacuated patients and their families returned to their rooms after the fire was contained. (Photo: Manh Hung)
Rong Viet Securities (VDSC), one of the leading full service brokerage houses in Vietnam, has partnered with Exotix Capital, the London-based developing markets investment bank, to offer investors premium access to investing in Vietnam’s capital markets.
Paul Domjan, Global Head of Research, Analytics & Data at Exotix Capital, commented: “Rong Viet has a focus on covering the Vietnamese market beyond the typical large cap names, and this focus on including smaller cap names complements Exotix Capital’s commitment to providing our clients with best in class local expertise.”
“This partnership is an excellent fit for Rong Viet Securities. It aims to expand Rong Viet’s international reach and help Exotix Capital’s extensive network of institutional investors benefit from our high quality research and best execution capabilities,” said Rong Viet Securities’ Chief Executive, Hieu Nguyen. “Our relationship with Exotix Capital will enable us to build relationships with some of the largest investors in the world by offering them greater local market colour and better trade execution in Vietnam’s capital markets.”
Marc Djandji, Head of Institutional Sales at Rong Viet Securities, commented: “Our primary mission is serving the needs of institutional investors with in-depth research and analysis of Vietnamese companies. We are delighted to be expanding our reach by joining Exotix Capital’s global network.”
Rong Viet Securities’ Equity Research department counts 16 analysts covering over 50 companies, representing more than half of the total market capitalization in Vietnam. The company specializes in identifying and championing predominantly under-covered Vietnamese listed companies. Its sales traders work in close collaboration with the Equity Research and Investment Banking teams to help clients gain exposure to superior Vietnamese companies across a broad spectrum of sectors. Over the last few years, Rong Viet’s research has been highly regarded for its unparalleled perspective.
About Rong Viet Securities: Established in 2006, Rong Viet Securities is a fully licensed brokerage house with offices across Vietnam. The company is publicly listed on the Ho Chi Minh Stock Exchange (HSX) under the ticker VDS. Thanks to our qualified professionals, advanced technology and extensive network of local business owners and foreign institutions, we provide a comprehensive range of financial services and products to clients. In 2017, we were voted among 13 categories within AsiaMoney’s Brokers Poll. This prestigious award was a recognition from our clients of our continuing efforts to enhance our core value proposition. For more information, please go to https://www.vdsc.com.vn/en/home.rv
About Exotix Capital: Exotix Capital provides a comprehensive and integrated cross-asset platform to penetrate full capital structures in developing markets. Analysts spanning Emerging Europe, the Middle East, Africa, Asia and the Americas cover over 170 companies and government entities, more than any other frontier markets firm. Stretching beyond equity and fixed-income markets, the Exotix Capital advisory team provides a full range of investment banking services to companies, financial institutions, investment funds and governments. These services include strategic advisory assignments from debt capital to private equity fund raising. More information is available at http://www.exotix.com
The US President Donald Trump will put 10 percent tariffs on an $200 billion in Chinese goods, which will go up to 25 percent at the end of the year.
The action heightens the trade conflict between the world’s two largest economies.
Trump is considering whether to put tariffs on more than $250 billion more in Chinese products.
Donald Trump will impose 10 percent tariffs on $200 billion worth of Chinese imports, and those duties will rise to 25 percent at the end of the year. Jacob Pramuk reports on CNBC.
The action, announced by the Trump administration Monday, escalates a trade conflict between the world’s two largest economies. China has already threatened to retaliate against new duties.
The White House removed about 300 goods from a previously proposed list of affected products, including smart watches, some chemicals, and other products such as bicycle helmets and high chairs.
Trump, in a statement, said that the tariffs would rise to 25 percent on Jan. 1, 2019, adding that “if China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.”
Trump has previously said that those additional duties are “ready to go on short notice if I want.”
The action will only ratchet up tensions between Washington and Beijing. The president seeks a new trade agreement amid complaints about alleged theft of intellectual property by Chinese companies and concerns about the U.S. trade deficit with China. The two sides have failed to reach a deal to resolve the White House’s concerns with China’s trade practices despite a series of talks.
“We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly,” Trump said in the statement.
“But, so far, China has been unwilling to change its practices.”
The president has defended his tariff moves, despite mounting criticism from Republican lawmakers and potential political damage. On Monday morning, he tweeted: “Tariffs have put the U.S. in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country – and yet cost increases have thus far been almost unnoticeable. If countries will not make fair deals with us, they will be ‘Tariffed!'”
Industry groups reacted with dismay following the announcement.
In a statement on Monday, National Association of Manufacturers (NAM) President and CEO Jay Timmons said imposing the tariffs risked undoing the results that manufacturers have achieved in the past year because of tax and regulatory reforms.
“With every day that passes without progress on a rules-based, bilateral trade agreement with China, the potential grows for manufacturers and manufacturing workers to get hurt. No one wins in a trade war, and manufacturing workers are hopeful the administration’s approach will quickly yield results,” Timmons said, in the statement.
The White House has already levied tariffs on $50 billion worth of Chinese products. Beijing responded with measures targeting $50 billion on American goods, raising fears about damage to the American farm industry.
Some administration officials have pushed for additional talks with China as they try to ease tensions with the world’s second-largest economy. But Trump contended last week that the U.S. was under “no pressure” to reach an agreement.
Earlier Monday, White House economic advisor Larry Kudlow said Trump “has not been satisfied with the talks with China on this.”
China’s Foreign Ministry has said the government would hit back if the U.S. moved forward with tariffs.
But Trump said he hopes the situation will be “resolved, in the end, by myself and President Xi [Jinping] of China, for whom I have great respect and affection.”
Tariffs have put the U.S. in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our Country – and yet cost increases have thus far been almost unnoticeable. If countries will not make fair deals with us, they will be “Tariffed!”
Read Trump’s full statement announcing the new tariffs below:
Today, following seven weeks of public notice, hearings, and extensive opportunities for comment, I directed the United States Trade Representative (USTR) to proceed with placing additional tariffs on roughly $200 billion of imports from China. The tariffs will take effect on September 24, 2018, and be set at a level of 10 percent until the end of the year. On January 1, the tariffs will rise to 25 percent. Further, if China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.
We are taking this action today as a result of the Section 301 process that the USTR has been leading for more than 12 months. After a thorough study, the USTR concluded that China is engaged in numerous unfair policies and practices relating to United States technology and intellectual property – such as forcing United States companies to transfer technology to Chinese counterparts. These practices plainly constitute a grave threat to the long-term health and prosperity of the United States economy.
For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies. We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly. But, so far, China has been unwilling to change its practices. To counter China’s unfair practices, on June 15, I announced that the United States would impose tariffs of 25 percent on $50 billion worth of Chinese imports. China, however, still refuses to change its practices – and indeed recently imposed new tariffs in an effort to hurt the United States economy.
As President, it is my duty to protect the interests of working men and women, farmers, ranchers, businesses, and our country itself. My Administration will not remain idle when those interests are under attack.
China has had many opportunities to fully address our concerns. Once again, I urge China’s leaders to take swift action to end their country’s unfair trade practices. Hopefully, this trade situation will be resolved, in the end, by myself and President Xi of China, for whom I have great respect and affection.
Vietnam has become an increasingly attractive destination for foreign investors. The international manufacturing sector is moving to Vietnam and more FDI is flowing into the country, showing growing confidence among investors in the market, according to a representative from Agility – a leading global logistics group.
Vietnam News Agency has interviewed Mr. Sushant Palakurthi Rao – head of Global Partnerships at Agility – who attended the recent 27th World Economic Forum on ASEAN (WEF ASEAN) in Hanoi to the on FDI-related issues. Following is the full text of the interview.
Sushant Palakurthi Rao – head of Global Partnerships at Agility | Photo credit: @palakurthirao
Over the last 30 years, Vietnam has actively improved its business environment in order to attract more foreign investment. How do you assess the results achieved from this?
We heard at the WEF on ASEAN conference from Vietnamese Prime Minister Nguyen Xuan Phuc and other leaders as how FDI is growing in the country. From the mere 10 billion USD in 1988 when Vietnam first started absorbing FDI, the country’s total export revenue is now expected to hit 225 billion USD in 2018. FDI firms have made up 20 percent of the total State budget collection, 10 times higher than the figure in 2000. In particular, over 50 percent of Vietnam’s total industrial production value comes from FDI firms.
I believe the numbers do the talking. Companies make their business plans very carefully because it is a very competitive world. So if a lot of FDI is flowing into Vietnam, it means an increasing confidence among investors in the market in terms of administrative procedures, labour productivity, connectivity, and infrastructure.
We can see increasing manufacturing here. If you are a manufacturer and looking for a country to invest in, you will think, okay, I can have access to Vietnam, a big talent pool, more and more skills, flexible, very suitable for what I need. I can move my products easily out of Vietnam to my export markets.
The FDI flow figures show Vietnam’s investment environment becoming more facilitating for businesses. They also attest to the role of the Vietnamese Government and this fact that helps facilitate the country’s investment climate.
Agility is a global logistics group with offices throughout more than 100 countries, including ASEAN. In Vietnam, you have offices in Hanoi and Ho Chi Minh City. With the experience of operating in air, ocean, and road logistics in Vietnam for 25 years, how do you place Vietnam’s market against other countries in the region?
We have a very strong presence in ASEAN. We see Vietnam as part of ASEAN, providing a lot of opportunities for us. We look for local talents, knowledge, and key local resources in logistics to help us build our global network.
In Agility’s recent report on emerging markets in logistics, we analyse how countries are performing and improving their logistics environment. If you look at our top 20 company performers in the report, five of them are from ASEAN and one is from Vietnam.
Vietnam has become an increasingly important market for us. The country is growing at about 7 percent. Any markets that grow that high means they are good for logistics, that logistics is needed. We like to invest in countries that are growing fast.
As mentioned earlier, manufacturing is moving to Vietnam. Our customers move to Vietnam from other countries. One of the reasons is manufacturers are looking to diversify their production, for various reasons – cost of labour, market access, and tariff, etc.
Hanoi is our major export facility for Vietnam. Most of our freights go from Hanoi to Chicago, to Amsterdam, to Europe for example. We have been here for a long time. We will continue to be here and invest in whatever opportunities arrive towards our customers. We will invest to support them.
Foreign-invested enterprises have become an important driving force for Vietnam’s economic development and international integration, while SMEs are the backbone of the national economy. Vietnam is looking forward to boosting the development of its private sector. In your opinion, what should we do to complete this mission?
Let me tell you this. I opened the newspaper Vietnam News the other day. I don’t know if it is you (the Vietnam News Agency) or your competitor, my apology, but there is a story in there about how local authorities in Vietnam are now trying to move a lot of activities online. A lot of admin things going online will have a very positive impact, not only to the business ecosystem. But it also gets citizens to work in that mindset. The Government is making some good strikes in that sense.
What I can see in practice is that the Government plays an effective role in facilitating, encouraging, and incubating. All I want to say is that the Vietnamese Government and authorities are doing a good job in making Vietnam an attractive place for foreign investors.
From a logistics and freight point of view, Vietnam has a lot of capability for distribution, which is clustered around the manufacturing zones across Vietnam. However, the geography of Vietnam is such a long country. In some cases, it is more convenient to move goods from Ho Chi Minh City to Cambodia then to Hanoi. The distance is shorter, not just a matter of hundreds, but thousands of kilometres.
We hope that our growth of hubs in Vietnam could stretch to many. It could go to Hai Phong, Hue, Da Nang, etc. Growth hubs could be well spread across the incredible geography of this country. The growth will help more equitable development for the nation. That will also be good for logistics and the private sector because it allows SMEs located somewhere else in provinces to have better access to the capacity.
Connectivity is a key driver of this growth. If you make it difficult to go north-south, let alone into land and countryside, you will miss out on some opportunities. If Vietnam becomes more convenient to do business, you are going to get more businesses here.
The world economy is entering the Fourth Industrial Revolution era. How do you think Vietnam will fit in the revolution and take advantage of it?
The Fourth Industrial Revolution offers both opportunities and challenges. I am a strong believer that technology can be an aid that helps processes and systems in every area.
Vietnam is an agricultural country. So, let’s take agriculture as an example. Again, every sector will be touched by the advancement of technologies – and agriculture is, of course, part of it too. If you think about a simple thing like drone technology. It allows you to make predictions, where flooding or drought might take place. Telephones work for fishermen. It is a revolution because it allows you to shorten times between the catch and the move to fisheries, sales, and the market. Drone technology is a good example of the ways farmers are going to benefit and be better prepared for any disruption in their work. That is just one example of how Vietnam can benefit from the Fourth Industrial Revolution.
Another example of how Vietnam fits in the revolution: I think a meeting like the WEF on ASEAN 2018 is a good indication that Vietnamese leaders and the Vietnamese Government are prioritizing new advancements in technology, in science, and innovation. They are very keen to see how to capitalize on the opportunities.
In just 10 years, Vietnam is now a middle income country. So I think Vietnam is fitting very well.
But it is important that you move with the speed because the changes are fast and require agility. It also requires nimble approaches because the pace is so quick.
Things are getting better, but as we mentioned at the beginning, the competitive pressure never stops – and the era of technology is definitely one of those competitive pressures.
Seven Vietnamese have died and five are in a coma after taking drugs at an electronic dance music festival in Hanoi, officials said Monday, as authorities scrambled to trace the substance.
The Sunday night disaster, believed to be the deadliest drug-related incident in the country, shocked the Communist nation´s conservative capital. Synthetic drug use is on the rise but remains largely underground among a relatively niche group of hard-partying youth. The News reports.
The victims, all Vietnamese, tested positive for an unspecified drug, prompting officials to ban all electronic dance music (EDM) festivals in the capital.
“Police investigators are trying to figure out what type of drug that was,” deputy director of Hanoi police Nguyen Van Vien told reporters Monday.
Officials said the dead were all in their 20s, while the five people in a coma in intensive care are aged between 18 and 30.
If the deaths are confirmed as drug-related it could be one of the worst cases anywhere in recent memory of mass narcotics-related deaths at a music festival.
Sunday night´s “Trip To The Moon” festival was hosted by Vietnam Electronic Weekend in Hanoi´s upscale West Lake, a neighbourhood popular among expats, teachers and youth for its nightlife.
Commuters pass the entrance to the West Lake Water Park in Hanoi where partygoers died from drug use during electronic dance music festival ‘Trip to the moon’ inside the park ( AFP)
Thousands attended the event which sprawled across three stages at a water park and included EDM big hitters Yellow Claw and Headhunterz on the line-up, according to the online flyer.
One festivalgoer said she saw several people collapse in the crowd and about four people shuttled out on stretchers.
“I thought maybe they were just exhausted but when I saw more people (being carried out) I was shocked… there were so many ambulances outside I was freaking out,” she told AFP, declining to be named.
Another who attended the festival said she saw many people she suspected to be high standing around dazed for most of the night.
“They didn´t dance much, just swayed a bit and they didn´t like the lights shining directly at them,” she told AFP, adding that security did not spend much time checking people at the entrance.
Organizers did not respond to AFP´s calls on Monday.
– Synthetics on the rise –
Investigators are trying to confirm who brought the drugs into the venue and said all events of its kind would be banned in the capital pending the probe.
“The incident yesterday… was very painful. It was a great loss,” said Tran Xuan Ha, deputy head of the Hanoi government´s propaganda department.
Tickets cost between $21 and $135 in a country which has joined Asia´s multi-million-dollar fixation on EDM.
Most ravers are found in the cosmopolitan and more free-wheeling southern hub of Ho Chi Minh City.
But the EDM party scene has gained popularity in the capital as has drug use among young people, in a city where most bars and clubs are supposed to close at midnight in line with the official curfew.
It was the third Vietnam Electronic Weekend festival held in the country and was slated to be the biggest yet, according to state media.
There are some 220,000 registered drug users in Vietnam, according to official figures.
In the past most users were hooked on opium and heroin, though strong synthetics such as methamphetamine and ecstasy are becoming increasingly popular.
Use of synthetic drugs rose seven percent between 2001 and 2016.
The synthetic substances largely come into Vietnam from the notorious “Golden Triangle” drug producing zone — comprised of lawless parts of Laos, Myanmar and Thailand — though some high-profile busts in recent years in Vietnam have uncovered domestic labs.
September 15 recorded the beginning of the shift from 11 to 10-digit phone numbers for more than 60 million subscribers across the country. The shift, a stepping-stone to approach mobile number portability (MNP), is expected to be completed by November 15.
Several days ago, mobile operators MobiFone, Viettel, and VinaPhone sent notices about the shift to all subscribers. Accordingly, aiming to shorten the shifting time, the operators integrated the task into their mobile applications. Thus, subscribers can easily change their phone numbers by themselves.
In line with the shift, local banks also support their clients via phone messages to update their new phone numbers into mobile banking applications. Specifically, with the banks’ support, customers can easily update their phone numbers via texting a message to the banks’ hot line instead of visiting transaction points as before.
The Ministry of Information and Communications’ (MIC) decision behind the shift means to create favourable conditions to approach high-quality telecommunications services like 5G, as well as to take the first step towards mobile number portability (MNP), which enables mobile phone users to retain their phone numbers while changing carriers.
“As science and technology are striding forward and new telecommunications services emerge, such as 2G, 3G, 4G, and 5G, we need to adjust the phone number database to match the long-term development needs of the telecommunications market and the Fourth Industrial Revolution. The move is realistic and matches international technology trends,” said Tran Manh Tuan, deputy general director of the Authority of Telecommunications.
MobiFone’s representative also said that MNP cannot be achieved without the shift from 11 to 10 digits. Mobile operators first have to complete the change in phone numbers, then they can change to MNP. Both shifts are sizeable projects and need a lot of technical staff as there are millions of subscribers.
According to the MIC’s plan on shortening mobile phone numbers to 10 digits by replacing three-digit carrier prefixes with new two-digit prefixes, mobile phone numbers beginning with 166, 122, 199, 188 will be replaced by 80, 30, 50, and 70, depending on the carrier. Mobile phone numbers currently using two-digit prefixes will remain unchanged.
Weakening en route to China’s Guangdong Province, Super Typhoon Mangkhut could trigger heavy downpours in north Vietnam.
Vietnam can breathe a sigh of relief as the massive storm, which has killed 64 people in the Philippines and two others in China, turned into a tropical depression at 10 a.m. on Monday after it made landfall on the coast of Jiangmen city, in China’s Guangdong Province.
At that time, the center of the depression was around 200 kilometers (124 miles) from the Vietnam-China border with wind speeds of up to 60 kilometers per hour.
The National Center for Hydrometeorological Forecasting said northern mountainous provinces should expect more rain from Monday, with rainfall ranging from 40 to 80 millimeters.
The mountainous provinces of Cao Bang, Ha Giang and Tuyen Quang can receive rainfall of up to 150 millimeters, the center said.
Both Vietnamese and international weather stations have predicted that the storm turned depression will directly affect the northern and northern central regions.
Mangkhut is the sixth storm to threaten Vietnamese waters this year.
After formed in the east of the Philippines, the storm intensified into a super typhoon with maximum wind speeds of 250 kilometers per hour and sustained the strength for days before slamming into the northern Philippines on Saturday with violent winds and torrential rain.
Weather forecasters in Vietnam have predicted that four to six typhoons and tropical depressions could develop off the country’s east coast from now until the end of the year. Around two to three storms will make landfall in Vietnam and batter the central region, they said.
Vietnam was struck by a record-breaking number of 16 tropical storms last year that left 389 people dead or missing and injured 668 others, mostly in northern and central regions.
Big moves by some players are exerting severe pressure on many e-wallet service providers in Vietnam.
Twenty seven payment service providers had been licensed in Vietnam as of last March, with 20 of them offering digital wallets. Others provide services such as financial switching, electronic clearing and payment gateway.
There are many reasons why banks, tech companies and fintech companies are venturing into the world of electronic wallets, including the growing global trends of digital banking and setting up financial startups.
Besides, Vietnam has a large population of young people who are compulsive smart phone users and fond of technology but lack interest in traditional banking services.
“Consumers are increasingly living a modern lifestyle that is accompanied by digital services,” Tran Thanh Nam, founder and director of mobile payment player Moca Technology and Services Corporation, said.
“In addition to free social networks, they have begun to pay attention to incorporating electronic services for their daily needs. From ride hailing to food delivery, it comes with safe and convenient non-cash payments.”
Who are offering e-wallets?
Moca’s popular rivals included MoMo, Bankplus, Vi Viet, VTC Pay, WePay, Mobivi, and Vimo.
As of December 2017 MoMo had more than five million users and expects to see a two- to three-fold increase this year. Vi Viet has more than two million users and hopes to increase the number to 3.5 million this year.
Late last year Pham Tien Dung, head of the State Bank of Vietnam’s Payment Department, said only about five payment intermediaries earned profits. The rest of the market has been labeled “unstable”.
Nguyen Dinh Thang, chairman of LienVietPostBank, which owns Vi Viet, said: “E-wallets need more time to develop to meet customer needs and market potential, and using cash cannot be changed in the blink of an eye. The market needs time to experience the utility and convenience of e-wallets.”
Industry insiders said each e-wallet has its own development strategies and target customer segments.
But they admitted that the failure by many e-wallets to adapt to the financial ecosystem in Vietnam and the lack of widely accepted payment gateways are holding the industry back.
In 2017 MoMo garnered more customers by offering discounts and promotions and spending on advertising. Then, this year it decided to exploit the power of the ecosystem by signing a deal with ride hailing company Uber Vietnam. Unfortunately, Uber withdrew from Southeast Asia a few months later.
Zalo Pay was a latecomer but achieved great success at the beginning of this year by running a “lucky money” campaign during the Lunar New Year that enabled users to gift lucky money to their loved ones using the digital wallet.
This campaign was a huge hit also in China when WeChat and AliPay ran it.
Zalo has an advantage over other e-wallet rivals since it already has an enormous user database from its messaging application.
The competition is fierce
The most recent tie-up, and one that could be a game changer, is between Moca and Grab. The CEOs of both companies are ambitious about developing their electronic wallets. Their strategy is “if we grow, we grow together”.
More specifically, the deal indicates that those who partner with Moca e-wallets will benefit from the large number of Grab population of millions of drivers and passengers across the country.
Grab users will soon be able to choose from all payment services offered by Moca, including bill payments, phone credit recharging, and non-cash payment at retail stores and fast food chains like 7-Eleven and McDonalds.
A combination of Momo popularity, rising Zalo Pay and the Moca-Grab marriage are exerting great pressure on dozens of other e-wallet providers.
Traditional mobile payment services of Vietnamese banks are also intimidated by the competitors.
Responding to this challenge, TPBank has updated the flight ticket support service on its mobile application.
UOB Bank Vietnam now allows in-app opening of new accounts in 10 minutes, reducing the time spent opening one at the bank by 80 percent.
“In big cities like HCM City, four out of every five people have smart phones which can assist them in completing everyday tasks in a much faster and convenient way. We always want to develop and leverage technology so that banking services are much simpler, safer and smarter for our customers from the very first transaction,” said Harry Loh, CEO of UOB Vietnam.
Samsung is considered relapsing its faulty batteries in Samsung Galaxy Note 9 after an fire catching in the US, which may impact on the sale of this product on the global.
According to newswire NewYork Post, a Long Island woman Diane Chung took Samsung to the court after her Samsung Galaxy Note 9 spontaneously combusted inside a Long Island woman’s purse. The first target of the lawsuit is to clarify her damage in this incident.
Diane Chung said in her lawsuit she was using the new handset on September 3 when it suddenly became “extremely hot,” and then she stopped using the phone and placed it in her purse but soon heard “a whistling and screeching sound, and she noticed thick smoke” pouring from her purse.
Chung had to remove the phone by emptying her purse onto an elevator floor, but the fire didn’t stop until a passerby picked up the handset with a cloth and placed it into a bucket of water.
The regret incident happened in the context Samsung CEO Koh Dong-jin affirmed that the battery in the Galaxy Note 9 is safer than ever. Users do not have to worry about the batteries anymore.
Another Samsung exec, Kate Beaumont, director of product planning, said the company now had a multi-step “battery safety check” in place and the Note 9s would “absolutely not” catch fire.
Responding the above information, a Samsung spokesman told NewYork Post that “We have not received any reports of similar incidents involving a Galaxy Note 9 device and we are investigating the matter.”
It is not the first time that Samsung’s Note brand has incident in term of faulty batteries.
Samsung CEO Koh Dong-jin affirmed that the battery in the Galaxy Note 9 is safer than ever. Users do not have to worry about the batteries anymore.Samsung CEO Koh Dong-jin affirmed that the battery in the Galaxy Note 9 is safer than ever. Users do not have to worry about the batteries anymore.
Notably, on September 2, 2016, the company suspended sales of the oversized products and recalled 2.5 million Note 7 devices that had been shipped worldwide after faulty batteries caused the phones to explode while charging.
Note 7 products were launched in Vietnam on August 19, 2016. According to domestic distributors’ statistics, over 10,000 Note 7 smart phones have been shipped to customers.
The recall piled increasing pressure on the company, as the Federal Aviation Administration officially banned passengers from turning on Note 7 devices on flights, while according to the regulation, passengers are recommended to put their mobile phones airplane mode on flights only.
Besides, Samsung had to suffer a serious damage for recalling 2.5 million Note 7 devices on worldwide. Although the company would not reveal an exact figure, the cost likely stands at around $1 billion, based on Bloomberg’s estimates-a huge sum, especially, when only around 35 of the handsets (less than 0.1 per cent of the total volume sold) had been found faulty.
The market moved slowly within a narrow range on the morning of September 17, due to renewed concerns about trade tensions and portfolio restructuring. The VN-Index ended the day up by less than one point.
HSX saw 106 gainers and 163 decliners. Unusually, the VN-Index fluctuated separately from stock price increases. In recent sessions, even when the index fell the number of stocks gaining still outnumbered decliners.
The VN-Index closed up 0.08 per cent as the VN30-Index lost 0.23 per cent. Midcaps were even and small caps increased 0.08 per cent. The trading band in blue-chips was quite narrow, with the VN30-Index having only ten gainers and 18 decliners. Fortunately, the group still had some strong pillars.
The best was VNM, rising 2.18 per cent in the morning session thanks to support from foreign investors, who bought over 61 per cent of its trading volume and pushed up prices. TCB gained 4.16 per cent; it’s best day since early August and quite unexpected.
In the VN30-Index, only GAS increased significantly, by 1.3 per cent. VPB rose 1.03 per cent and HSG 2.25 per cent but neither had any effect on the VN-Index. Poor performers included SAB, PLX, and VHM.
A number of blue chips fell: VIC by 0.89 per cent, VCB 0.63 per cent, VJC 1.01 per cent, VRE 0.92 per cent, and CTG 0.56 per cent.
On HNX, PVS increased 1.33 per cent and PLC 8.77 per cent. ACB lost 0.59 per cent, SHB 1.18 per cent, and VGC 1.07 per cent. The HNX-Index closed down 0.2 per cent with 65 shares increasing and 70 shares decreasing. The HNX30-Index gained 0.33 per cent, with 14 shares increasing and nine decreasing.
The market saw cautious trade amid ongoing talk about a trade war, with the US planning to impose additional tariffs worth $200 billion on Chinese imports. The China and Hong Kong stock markets lost 1.06 per cent and 1.64 per cent, respectively.
Liquidity on the two exchanges was not strong, with total matching order value down nearly 5 per cent from the previous session and standing at VND2.1 trillion ($90.2 million). Neither had stocks with trading volumes exceeding VND100 billion ($4.2 million). The highest were VNM and PVS, with VND95.5 billion ($4.1 million) and VND94.9 billion ($4.07 million), respectively.
Runners will go the distance in the Vietnam Mountain Marathon from September 22-24, 2018 in SaPa.
Vietnam Mountain Marathon(VMM) is the result of a lifelong love of running and a fascination with Vietnam. The small dirt roads and narrow trails will take you through the beautiful mountain ranges of Hoang Lien National Park and valleys near Sapa that are usually closed territory to all but the few people living there.
There will be 3,400 runners from 50 nations will race distances ranging from10km, 15km, 21km, 42km, 70km and 100km in Vietnam’s highest mountains, through the rice fields and speed through breath-taking valleys, cross bamboo bridges, bypass water buffalos, mountain pigs and cheering local children.
Sapa, Vietnam
Ms. Sophie Dao, Partner of GBS, a legal services company will be on the starting line for the 10km for Operation Smile Vietnam team.
“Operation Smile Vietnam is a wonderful charity and I am extremely proud to be running along with the rest of the Operation Smile Vietnam team to help raise money and awareness,” she said. “I’ve been training for this and the inspiration to help such a fantastic organization has given me great motivation!
The event kicks off with an Expo event in Sapa Square one day before the event with live music, DJs, food and drinks and sponsor by famous local and international names.
The race has a strong charitable focus and thousands of dollars have been donated to good causes since 2013. This year, the fundraising outcomes will be divided between local projects around Sapa, Newborns Vietnam and Operation Smile Vietnam.
Olam has been recognised for its strong workplace culture and employee engagement, with Olam Vietnam Limited (“Olam Vietnam”) and PT
Olam Indonesia (“Olam Indonesia”) being named as among the best companies for work for in their respective countries by HR Asia Magazine.
Olam Vietnam was selected by the human resource publication in its inaugural list of Best Companies to Work for in Asia 2018 Awards – Vietnam Edition. This was Olam’s second time on the list this year – having received the same accolade for Olam Indonesia in the Indonesia edition of the award in May 2018.
This year, 3730 employees from 131 companies across Vietnam, and 7,320 employees from 210 companies across Indonesia, participated in the assessment survey for the awards, which was evaluated by an independent panel of judges- comprising industry experts, academics, journalists and government representatives. The accolade was accorded to those companies that best demonstrated strong employee engagement and excellent
workplace culture.
Prakash Jhanwer, President of Southeast Asia and China, Olam International, said, “We are delighted and honoured to receive these awards for both our Vietnam and
Indonesia operations. Our people are our most important asset and we are committed to fostering an environment for employees to thrive. We will continue to strive to be an employer of choice in these regions and globally.”
About Olam International Limited
Olam International is a leading agri-business operating across the value chain in 66 countries, supplying various products across 18 platforms to 22,000 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 30 largest primary listed companies in Singapore in terms of market capitalisation. In 2016, Fortune magazine recognised Olam at #23 in its ‘Change the World’ list.
Media OutReach – 17 September 2018 -DHL eCommerce, a division of the world’s leading logistics company, Deutsche Post DHL Group (DPDHL), announced its partnership with Sendo, Vietnam’s #1 local e-commerce platform. The successful integration between the two companies means sellers on Sendo will now be able to access DHL’s excellent domestic delivery network, and deliver to their buyers same-day or next-day in Ho Chi Minh, Hanoi and other primary markets.
“Being a homegrown company allows Sendo to have deep understanding of the Vietnamese local market and culture. Sendo aims to support over 300,000 individual vendors, micro-entrepreneurs, and small businesses to initiatively sell their goods online and deliver them affordably throughout Vietnam. With our collaboration with DHL eCommerce, we will provide not only the sellers but also several million buyers on our platform with an international quality delivery experience in Vietnam.” said Mr. Tran Hai Linh, CEO, Sendo.
To support small businesses, DHL eCommerce also offers market leading cash-on-delivery (COD) services with next-day remittance to sellers. With more than 300 DHL ServicePoints located conveniently across Vietnam accessible to Sendo, sellers can also choose to drop-off their parcels at these locations instead of waiting for a pick-up as well as enjoy discounts of up to 20%. Alternatively, sellers can also arrange for a pickup by DHL for direct door-to-door delivery service to their buyers.
“Micro, small, and medium-sized enterprises continue to play a major role in Vietnam, accounting for 98 percent of all enterprises, 40 percent of GDP and 50 percent of employment.[1] However, they face unique challenges such as access to finance and international partners. DHL is passionate about supporting small businesses and we are excited to work with Sendo to support their sellers with an excellent, high quality domestic delivery network.” said Thomas Harris, Managing Director, DHL eCommerce Vietnam.
To mark the start of the partnership, DHL eCommerce and Sendo will offer special promotions for sellers during the month of September. To find out more, visit: sendo.vn.
DHL — The logistics company for the world
DHL is the leading global brand in the logistics industry. Our DHL family of divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 360,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, energy, automotive and retail, a proven commitment to corporate responsibility and an unrivalled presence in developing markets, DHL is decisively positioned as “The logistics company for the world”.
DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 60 billion euros in 2017.
About Sendo
Launched in March 2012, Sendo is Vietnam’s #1 local e-commerce platform, offering more than 10 million of products on its platform. This is also the first e-commerce marketplace combined with logistics providers and banks to provide customers with a full package of guaranteed transaction. In 2016, Sendo’s fintech subsidiary Fpt Wallet, which operates Senpay, received e-payment licensed from the State Bank of Vietnam.
Featured image: (left to right) Tran Hai Linh, CEO, Sendo and Thomas Harris, Managing Director, DHL eCommerce Vietnam
Since 2008, the number of foreigners working in Vietnam has increased steadily by 8 percent per annum. With that, the market of serviced apartments for lease in large cities has attracted many investors.
Savills’ Q2 report showed that the occupancy rate of serviced apartments was 88 percent in Hanoi and 80 percent in HCMC.
In the first half of 2018, industrial zones attracted $7 billion worth of foreign direct investment (FDI), accounting for 34 percent of total FDI capital.
The occupancy rate of serviced apartment remains unchanged at 80 percent last year and has not reached 90 percent, as seen many years ago.
The international serviced apartment brands that first joined the Vietnamese market include Somerset West Lake, Fraser Suites, Pan Pacific and some Japanese brands.
However, after 20 years of presence in Vietnam, the operational scale of the brands remains small compared with their global network.
The leasing fee of serviced apartments in Vietnam is between VND7.9 million and VND45 million a month.
According to CityHouse Apartment, which specializes in providing serviced apartments for $330-2,000 monthly in HCMC, the number of $1,200-2,000 apartments available is modest. These apartments are in high demand, but the supply is short.
As for the $800-1,200 apartments, the service quality and investment scale have not seen considerable improvements.
Meanwhile, apartments for $400-800 have been developing: there are many projects in this segment, but they have small scale, and associated services are minimal.
However, a real estate expert said that though the expected profits have decreased compared with some years ago, the 80 percent occupancy rate is still attractive enough to attract serviced apartment management brands.
Do Thu Hang from Savills said that the rental fee of serviced apartments is less competitive than the apartments investors buy for lease. In general, serviced apartments only have 1-2 bedrooms, while ordinary apartments have 2-3 bedrooms.
Serviced apartments target expats, travelers and businesspeople who stay in Vietnam for a long time; the apartments have large space and sufficient services. Unlike apartments built for sale or villas for lease, serviced apartments provide interior items, 24/24 services and are managed by professional units.
A report found that by the end of 2017, the total number of industrial zones in Vietnam had reached 220, covering a total area of 69,000 hectares. In Hanoi and neighboring provinces alone, there are over 70 industrial zones.
However, the number of serviced apartments remains modest with just several international management brands. The development of the Hanoi market has not corresponded to its potential.
After a period of attracting users with industry, tech apps, from ride-hailing to chatting, continue to develop into ‘super-apps’ which can be used for many purposes.
In late July, Grab said it was focusing on the HCMC market when providing food delivery services. However, on September 5, or just one year later, it began providing service in four central districts in Hanoi.
The company’s press release emphasized that GrabFood is the next important development step in the plan to become a super-app, useful for all aspects of daily life in Vietnam and Southeast Asia.
The development of a super app was stated by Grab’s CEO Anthony Tan in mid-July. In Singapore and Indonesia, Grab’s app books taxi, delivery services, orders food,and has news, videos and games.
Super app, or all-in-one app, is not a new idea. Tencent is considered the pioneer and the most successful player in the world along with WeChat.
WeChat was launched in 2011 as a messaging app. But it later became a multi-functional app which allows users to do many things, from communicating to buying goods, from traveling to making payment.
Grab is not the only player in the super-app battle field. Most recently, Zalo launched a trial app version for a group of users with new services, such as taxi hailing and food ordering.
Prior to that, the messaging app was integrated with e-commerce. Users can also use the app to check weather forecasts and restaurants, to book examination schedule, pay water and electricity bills and enjoy e-government services.
Experts commented that the way Zalo is following has similarities with WeChat’s. Meanwhile, the advantages of Grab is a powerful logistics foundation with 135,000 drivers in Vietnam.
According to technology experts, attracting new users and retaining existing users can bring big money to app developers because they not only can make profit from transactions, but also from the collection, analysis and use of users’ data.
Grab late last month launched GrabAds, an ad platform. By analyzing people’s habits and hobbies, ads can be personalized.
To run super-app, developers need to create a product which many users need. Developing super-app from messaging or hailing app proves to be the most feasible way.
Besides Grab and Zalo, Go-Viet is also a player with big potential. Andre Soelistyo, president of Go-Jek, the holding company of Go-Viet, said Go-Viet accounted for 10 percent of the motorbike hailing market share in HCMC just after three days of operation. In mid-August, CEO Nadiem Makarim told Reuters that its market share rose to 15 percent.
