AirBridgeCargo Airlines launches Vietnam service with guaranteed 48-hour delivery times

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AirBridgeCargo Airlines (ABC) has launched a new freighter service between Moscow and Ho Chi Minh City, one of the busiest cities of Vietnam, increasing dedicated main-deck capacity to and from one of the major manufacturing hotspots in Asia, and adding it to its international network of more than 30 destinations.

The B747 freighter flight will link customers from Singapore and Ho Chi Minh City with other destinations in ABC’s international network through its cargo hub in Moscow to guarantee 48-hour delivery times, including ground handling. Impactpub.com.au reported

“On the back of economic growth of more than seven per cent and increasing export volumes, Vietnam seems like the right place to offer direct freight services to other regions, especially Europe and North America – something we can offer to the market with a diversified number of destinations and high level of service quality, including for special cargo,” said Sergey Lazarev, general director of AirBridgeCargo Airlines.

“We have been expanding our network following our customers’ needs and expectations, and segment-wise we foresee support from companies specializing in electronics and garments shipments.”

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27 killed, 7 still missing in Vietnam’s flood

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Downpour, lash floods and landslides sparkled by Typhoon Son Tinh have left 27 people dead, seven missing and 26 injured in Vietnam’s central and northern regions, the Central Steering Committee for Natural Disaster Prevention and Control said on Tuesday morning.

Among the 27 deaths, 13 were from northern Yen Bai province, six from northern Son La province, three from northern Phu Tho province and central Thanh Hoa province each, and one from northern Lao Cai and Hoa Binh provinces each.

Among the seven people listed as missing, four were from Yen Bai, two from Thanh Hoa, and one from Phu Tho. Most of the injured people are from Yen Bai.

The natural disasters also destroyed 243 houses and inundated over 6,900 houses, killed 6,500 cattle and roughly 115,000 poultry, damaged 6,200 hectares of aquaculture ponds, and inundated 81,000 hectares of rice in the two regions, said the committee.

According to Vietnam’s National Center for Hydro-meteorological Forecasting, due to a tropical depression, the northern localities of Lang Son, Quang Ninh, Hai Phong, Cao Bang, Ha Giang, Lao Cai, Yen Bai and Lai Chau will experience heavy rain and strong winds on Tuesday and Wednesday. Flash floods and landslides may occur in several northern mountainous provinces.

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Vietnam’s currency suffers from US-China trade war

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The Vietnamese government will have to decide either to devalue the Vietnamese đong further against the US dollar to support exports and avoid cheaper Chinese goods to flood in the local market, or keep the dollar/đong exchange rate stable to avoid increased public debt and control inflation as the US-China trade war accelerates.

According to a report by VNS, as the trade war escalates, China has weakened its currency to boost exports, making its goods even cheaper in Vietnam.

Banking expert Nguyen Tri Hieu said while the Chinese yuan had lost 4 percent against the dollar since the beginning of this year, the đong had devalued by only 1.5 percent against the dollar. The đong had also appreciated by some 1.8 percent against the yuan to date this year.

The moves made Chinese imports much cheaper, Hiếu said, adding that Vietnam had to balance between controlling the trade deficit and being able to compete with cheaper Chinese goods in the market.

Hiếu said the government should remain cautious as the yuan could fall even further.

According to Hiếu, China has set the yuan’s foreign exchange rate at 6.95 per dollar, but around two years ago, that number was even lower at 6.69 per dollar, so there was potential for the yuan to slip further.

At this moment, Hiếu said, a further devaluation of the đong was not necessary. However, if the trade war continued, the đong should be devalued by another 1.5 percent this year to offset the devaluation of the yuan against the dollar.

A further devaluation of the đong would support Vietnam’s exports and prevent Chinese products from flooding Vietnam like in 2015 when the yuan devalued sharply against the dollar, Hiếu said.

However, Hieu also said a sharp devaluation of the đong could also cause a rise in Vietnam’s public debts and inflation. He explained that more than half of the nation’s debts were in dollars.

Nguyen Duc Thanh, director of the Vietnam Institute for Economic and Policy Research (VEPR), also said that Vietnam should develop a policy to devalue the đong against the dollar at a moderate level to import cheap raw materials to improve the production status in the context of the US-China trade war and the devaluation of the yuan.

According to Thanh, Vietnam imports raw materials from China to process and export, and the adjustment of the exchange rate will benefit importers from and exporters to the US. Taking advantage of the two big markets can improve production and the trade balance.

The US and China are Vietnam’s two most important trade partners. China is the largest import market with turnover of US$31.1 billion, with key commodities including fabric, phones and accessories and accounting for one fourth of total import turnover. China has replaced South Korea as Vietnam’s biggest trade partner.

In terms of exports, the US is Vietnam’s largest market with export turnover of $21.5 billion in the first half of 2018, increasing 9.2 percent compared to the same period in 2017 and accounting for one fifth of Vietnam’s total export turnover.

According to Thành, when the yuan fell sharply and the dollar showed signs of price appreciation, Vietnam’s trade balance was greatly impacted due to cheap Chinese goods flowing into the domestic market.

“The exchange rate will still suffer from pressure in the context of international financial markets showing concerns about the escalation of the US-China trade war. Vietnam should develop a policy to devalue the đồng against the dollar at a sensible rate, and lower than the devaluation of the yuan against the dollar to benefit and improve production,” Thanh recommended.

Economist Ngô Trí Long, former director of the Market Price Research Institute under the Ministry of Finance, said that the central bank should adjust the exchange rate based on the market and not the yuan.

Long said adjusting the đồng’s value at the moment was a risky move.

It would be hard to achieve the nation’s target of keeping inflation below 4 per cent this year, not to mention other factors such as higher oil prices and natural disasters, Long said.

If Vietnam decided to move forward with devaluing the đồng, the adjustments should be based on market demand and not on the yuan’s value, Long said, adding that a 2 percent drop would better match current market conditions.

High alert against malicious code attacks in Vietnam

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An emergency warning has been issued about malicious files aimed at banks and critical IT infrastructure in Vietnam.

The National Computer Emergency Response Team (VNCERT) on Tuesday said Vietnam needs to urgently carry out the task of tracking, blocking and deleting malicious files aimed at stealing important information from banks and IT infrastructure in the country. Viet Phong reported on VNExpress.

Late last month, hackers had attacked some banks and significant IT infrastructure entities in Vietnam, VNCERT said in an emergency announcement.

It said the hackers made sneaky probes into the attacked entities. They had used hi-tech measures to bypass cyber security systems, sought to seize control of users’ computers and get into other computer systems containing important information.

VNCERT urged local banks and IT infrastructure entities to take immediate measures to detect and prevent targeted attacks, which could disseminate malicious codes to steal data and destroy information systems.

It said banks and IT infrastructure entities need to track and block connections to Command-and-Control servers (C&C servers) with the following Internet Protocol (IP) addresses (38.132.124.250 and 89.249.65.220).

They should also scrutinize their IT systems and remove directories and files containing malicious codes, the agency said.

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Top 5 Beautiful Cities in Central Vietnam

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From rocky inlets to sandy lagoons, Vietnam’s central coast is perhaps the most striking the nation has to offer. This is an area of great cultural and historical significance, home to fascinating cities both well-traveled and hardly yet explored. For those visiting central Vietnam, these are our favorite cities – reviewed by Sam Roth on The Culture Trip

Danang

Danang is the nation’s third largest city and a nice alternative to the cultural capital of Hanoi in the north or the economic hub of Saigon in the south. Growing between eastern peaks of the Annamite mountain range and the tranquil waters of the East Sea, this is one Vietnamese city that blends with it’s natural surroundings. For those interested in riding, the Hai Van Pass – perhaps Vietnam’s most famous road – lies just a few kilometers to the north. The spectacularly fun zig-zag of tarmac traverses through lush jungle and massive stone boulders as it skirts the sea.

Danang’s downtown area has transformed in recent years and is now one of the most tourist-friendly in the entire nation. The majority of the action is set on the banks of the Han River. A boardwalk runs for kilometers and is home to a number of great shops, bars and restaurants. On the weekends, the fire breathing Dragon Bridge is a must see.

For those looking to enjoy the sand and sea, Danang and the surrounding area offer some of the country’s best beaches. From the expansive My Khe beach to the secret lagoons and hidden ribbons of gold around Monkey Mountain, there’s a beach for all tastes in Danang.

Danang’s fire breathing dragon, Vietnam | © TBone Lee/Shutterstock

Hue

Hue, the nation’s ancient capital, may be the most historically fascinating city in all of Vietnam. Well-preserved temples, pagodas and tombs lie around every corner. There’s so much history here that it’s been named a UNESCO World Heritage Site.

The city’s small size makes it a great stop on any trip along the eastern coast. The backpacker district lies feet from the Perfume River and within walking distance of the ancient citadel. Anyone exploring the region should take at least a day to see the Citadel, Minh Mang Tomb, Khai Dinh Tomb, and Thien Mu Pagoda.

For the food lover, Hue has some of the most complex and artful cuisine in the nation. Dishes are often well spiced with chili. For something different and unique to the region, try a bowl of com hen or rice with baby clams.

Khai Dinh tombs in Hue, Vietnam | © RPBaiao/Shutterstock

Hoi An

The second UNESCO World Heritage site on our list, Hoi An is one of the nation’s most important tourist destinations. An area once home to Cham people, the small town grew in size and importance between the 15th and 19th centuries, attracting a large number of Chinese and Japanese traders and becoming known internationally as a top tier Asian trading port. As a result, the well-preserved stucco buildings are awash in both Chinese and Japanese influences.

Today, the city has little in the way of an economy beyond tourism. Travelers often spend a few days to a week exploring the romantic alleyways of the old town, hidden beneath the glow of hanging lanterns. Tailors and designers operate storefronts on almost every block, and it’s a traveler’s rite of passage to have something hand-made while passing through.

Hoi An’s romantic Old Town, Vietnam | © Judyta Jastrzebska/Shutterstock

Dong Hoi

Three hundred miles south of the nation’s capital, Dong Hoi is one of the lesser known cities on our list. The coastal enclave of 160,000 is home to a number of spectacular beaches including The Da Nhay and Bao Ninh, each making a great day trip for anyone visiting the region. Bang Spa, a natural hot spring, is another popular nearby destination amongst travelers.

Dong Hoi is of particular importance due to its proximity to Phong Nha Ke Bang national park. The park, which lies just 30 miles to the west, is Vietnam’s greatest natural treasure and should be seen by any and all tourists. The region’s caves are some of the largest and most fascinating in the entire world.

Dong Hoi, Vietnam | © Loner Nguyen/Shutterstock

Qui Nhon

Nestled along the coast halfway between Nha Trang and Hoi An, Qui Nhon is in the midst of a government-planned, tourist-targeted revival. The main beach is one of the cleanest city beaches in Vietnam, hardly developed and very well maintained. A boardwalk shrouded in greenery runs parallel to the ocean. Most tourists visiting the region also head 10km south of the city to Bai Xep beach, which has become famous throughout Vietnam for its natural beauty.

Visit 12trip.vn now to book a hotel at any of  these 5 Beautiful Cities

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Northern region of Vietnam forecasted to face more floods

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The northern region of Vietnam has been forecasted to see heavy rains which can cause more floods after July 24.

Speaking with DTiNews this morning, July 23, Dr. Hoang Phuc Lam from the National Centre for Hydro-meteorology Forecasting said a tropical pressure is moving towards to the China and then 24 hours later it would weaken.

However, being affected by the tropical pressure, many localities in the northern region of Vietnam would have torrential rains, particularly in mountainous areas.

Northern mountainous localities such as Cao Bang, Ha Giang, Lao Cai, Yen Bai and Lai Chau have been warned to face flash floods and landslides.

Bored of catching Pokemon? Catch ghosts with Ghostbusters World

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You ain’t afraid of no ghosts?

Then the Ghostbusters World game might just be the alternative to Pokémon Go for you, as it is also location-based and uses augmented reality.

According to the Verge, a demo version of Ghostbusters World was made available at the San Diego Comic-Con last weekend, which let players blast ghosts with a proton pack to capture them, instead of using Pokéballs to catch little monsters.

Unlike Pokémon Go, which was built on top of data from Niantic’s earlier game Ingress, this game was built using Google’s Maps platform which was recently opened to developers, allowing buildings to be shown in 3D for a more immersive experience.

Verge, which got to try the demo, says players have four different proton packs that range in blast power, like how Pokémon Go has Great Balls and Master Balls that make it easier to catch monsters.

Players can get more items to fight ghost at dimension portals or can buy ammunition through in-app purchases.

The game also tracks players’ movement using the phone pedometer, rewarding long walks by hatching Ectoplasms.

The Verge writer called the game “Pokémon Go, but with ghosts”, but revealed that Ghostbusters World will also have player-versus-player fighting and a Story Mode scripted by writers of the Ghostbusters comics from IDW Publishing.

The demo also had an in-game chat feature, though it could be cut if it proves too hard to moderate.

Ghostbusters World is expected to launch later this year on iOS and Android with around 150 ghosts to capture. Got to catch them all?

Currently, the game’s website only has a trailer and links to its social media pages.

It also shows that the game was made in collaboration between Columbia Pictures Industries, Korean mobile game designing company 4:33 Creative Lab and NextAge Co Ltd who made a Walking Dead AR game.

Source: Asiaone

Lending interest rate in inter-bank market hits six-month high

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The interest rate for Vietnamese dong loans in the inter-bank market has hit the highest level since the beginning of the year due to high demand.
Accordingly, the rate for overnight loans last week surged sharply by 1.96 percentage points against the previous week, closing the week at 3.22 per cent.
The rates for one-week, two-week and one-month loans were 3.5 per cent, 3.58 per cent and 3.78 per cent, up 2.11, 2.07 and 2.02 percentage points, respectively.

Last week, the State Bank of Việt Nam (SBV) also offered bills at five auctions at higher interest rates (at 1.75 per cent and 2.25 per cent for 28-day and 91-day bills) to withdraw money from commercial banks, however, no auction was successful.

In the inter-bank market, the interest rates for US dollar loans last week also inched up, ending the week at 2.13 per cent for overnight loans, 2.23 per cent for one-week loans, 2.33 per cent for two-week loans and 2.47 per cent for one-month loans.

Industry insiders attributed the decline in the dong liquidity at commercial banks last week to banks using the đồng to buy the dollar from SBV.

Though there has been no official report on the amount of dollar sold by the SBV, it was estimated the amount was significant. This meant that the SBV withdrew a significant amount of đồng from commercial bank through the sale.

Source: VNS

Mumuso faces fine of VND100 million from MoIT

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Mumuso is facing a fine of VND100 million ($4,440) by the Ministry of Industry and Trade (MoIT) due to the company’s unlawful practice of deliberately misleading consumers as to the origin of its goods or providing insufficient information.

Trinh Anh Tuan, deputy director of the MoIT’s Competition and Consumer Protection Authority, said that Mumuso Vietnam will be handled in accordance with Decree No.185/2013/ND-CP, stipulating the fines for administrative violations for producing and trading in fake goods, as well as in accordance with Decree No.71/2014/ND-CP, stipulating the sanctions on violations of the Law on Competition.

Thus, according to the Decree 185, Mumuso Vietnam is set to face the maximum administrative fine of VND100 million ($1,440). Many domestic consumers consider the fine to be too small compared to Mumuso’s violations and not high enough to threaten the firm.

Several days ago the MoIT announced the results of its inspection of Mumuso Vietnam which investigated the extent to which the company complied with the laws of Vietnam between early 2016 and May 31, 2018. The inspection found that, contrary to the company’s claims, 2,257 out of Mumuso’s 2,273 goods (99.3 per cent) are imported from China, with the rest being bought from domestic suppliers.

The inspection also found that the firm’s MUMUSOKR brand was registered by MUMUSOKR Limited at 601,47 Sejongdaeero 23-Gil, Jongro-Gu, Seoul (South Korea). However, MUMUSOKR Limited has authorised Mumuso Shanghai (China) to use the MUMUSOKR brand all over the world.

According to an MoIT representative, Mumuso has violated the law on consumer protection by providing insufficient information related to its products’ origins. In addition, the information on its products relates to South Korea, but there are no legal documents to prove they were produced in South Korea.

In March 2018, the Ho Chi Minh City People’s Committee also placed a fine of over VND322 million ($14,185) on Mumuso Vietnam due to the company conducting business in illegally imported goods, including illegal cosmetic goods. This was in accordance with Decree No.176/2013/ND-CP, stipulating the imposition on administrative offences in cosmetic, drug, and medical equipment segments, as well as with Decree 185/2013.

Source: VIR

Shares to remain upward trend

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Vietnamese stocks are regaining momentum and are expected to remain upbeat during upcoming trading thanks to improved liquidity and cash flow, analysts said.

The benchmark VN-Index on the HCM Stock Exchange (HOSE) plunged 1.12 per cent to close Friday at 933.39 points, reversing from its increase of 5.7 per cent during the previous six sessions.

It increased a total of 2.6 per cent over the week.

The HNX-Index on the Ha Noi Stock Exchange gained 1.93 per cent to end at 107.62 points. The northern market’s index notched weekly growth of 4.97 per cent.

Trading liquidity improved last week with an average of more than 225.1 million shares being traded in each session, worth VND4.7 trillion (US$205 million).

The trading figures were up 42 per cent in volume and 49 per cent in value compared to the previous trading week. That indicated investor confidence in local stocks was growing, according to analysts.

According to market expert Ngo Quoc Hung at MB Securities Joint Stock Company (MBS), the Vietnamese stock market experienced a recovery last week as forecast, with the VN-Index regaining the 930-point level.

The local market was one of the top three global securities markets with the largest rebound in the past week, Hung said.

The return of cash flow was the highlight of the past week. Trading value on HOSE reached the highest level in three weeks, standing at VND3.3 billion per session, up 46.4 per cent compared to the previous week.

Leading stock groups such as banks and real estate were still the drivers of the market.

The market is likely to stay on an uptrend this week and may rise to the point range of 975-996, Hung said.

As the half-year reports continue, disbursements are on the rise to catch up with investment opportunities. Stocks achieving satisfactory business results such as banking, real estate and the growth of mid-cap and small-cap stocks are creating the necessary support for the market and will continue to perform this role well this week.

According to Hung, concerns over the trade war seemed to have been exaggerated. In the past three weeks, the VN-Index had fallen by 3 per cent while the MSCI’s broadest index of Asia-Pacific shares outside Japan dropped slightly by 0.3 per cent.

On the Chinese market alone, the Shanghai index recorded only a modest decrease of 0.6 per cent. The Dow Jones even climbed steadily over the past three weeks with a rise of 3.24 per cent.

“I think the market will continue to maintain its uptrend in the coming week and the cash flow will continue to come back, it may also see some shaking sessions or slight correction when the profit-taking pressure increases,” said Nguyen The Minh, head of analysis at Yuanta Securities Vietnam Co.

For a broader forecast, according to Bao Viet Securities Company (BVSC)’s Strategic Report, in the second half of this year, stable macroeconomic indicators would support the stock market.

However, Viet Nam’s stock market also faced risks in the last six months. Domestic risks may come from unpredictable inflation and movements of the US dollar and the yuan, which may affect cash flow into the stock market.

External risks may derive from the Fed’s rate hikes, trade war fears and the withdrawal of capital from emerging markets.

“After carrying out analyses of these factors, we forecast that the market will stay on a downtrend in the third quarter. In the best-case scenario, if a trade war does not occur amid the stabilisation of exchange rates and inflation, the market may reverse to an uptrend in the last quarter and fluctuate at around 900 points by the end of this year,” BVSC said.

Source: VNS

83 percent of bad debts sold to VAMC came from Sacombank

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83 percent of bad debts the Vietnam Asset Management Company (VAMC) bought last year at market prices came from private lender Sacombank.

VAMC said it bought over VND3.14 trillion ($137 million) worth of bad debts from five credit institutions at market prices last year, surpassing the government’s target. VNExpress reported.

Of the five, Sacombank was the largest seller, selling two loans worth VND2.61 trillion ($114 million) with collateral in the form of real estate and machinery in Da Nang and Ho Chi Minh City.

VAMC also bought debts of VND299 billion ($13.1 million) at market prices from the state-owned Agribank, VND40 billion ($1.75 million) from HDBank and VND10 billion ($437,000) from Viet Capital Bank, which is the smallest debt.

VietinBank sold debt worth VND191 billion ($8.34 million) at a lower price.

VAMC’s management said it has recovered VND130 billion ($5.68 million) from the debts it bought.

For the full year it targets buying VND3.5 trillion ($153 million) worth of debts and recovering VND4.9 trillion ($214 million) from the debts it bought.

A plan approved by the government last year envisages the company increasing its charter capital from VND2 trillion ($87.4 million) now to VND5 trillion ($218.5 million) by 2018 and VND10 trillion ($437 million) by 2020.

The wholly state-owned firm, established in 2013, is permitted to buy bad debts from banks, put collateral up for sale and recover and restructure debts.

Google Maps announces motorcycle mode for Vietnam

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Google Maps has announced a new motorbike mode in ASEAN countries, including Viet Nam this week – Vietnamnet reports.

The new feature was designed to better serve markets in which motorbikes are a popular means of transport.

Accordingly, the users in Viet Nam will be able to customise their maps for motorcycles, including shortcuts and narrow roads unavailable to cars. Travel time is accurately calculated based on a machine-learning model of motor speed simulation.

Users will also be able to avoid high-speed toll stations and roads on which motorbikes are banned.

Google Maps version 9.79 is available for devices with Android 4.4 (KitKat) and above since Wednesday.

Google Maps currently has more than 1 billion monthly users and is considered a popular choice for drivers with data on 400 million km of road. The number of Google Maps users in Viet Nam is currently 40 per cent higher than last year.

The maps for motorbikes are produced using a combination of different sources, including third-party providers, public sources, and user-supplied data. Google relies on images collected from Street View to determine road limits for motorbikes.

Ozil, citing ‘racism’, quits Germany side after World Cup debacle

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File photo taken on May 13, 2018 shows Turkish President Recep Tayyip Erdogan (right) posing with German footballer of Turkish origin Mesut Ozil (left) in London. (KAYHAN OZER/TURKISH PRESIDENTIAL PRESS SERVICE/AFP)

BERLIN: Mesut Ozil said on Sunday (Jul 22) he was quitting the German national football team, citing “racism” in the criticism of him in the side’s World Cup debacle.

Ozil, who has Turkish roots, had earlier defended his decision to pose for a photograph with Turkish President Recep Tayyip Erdogan in May which sparked questions about his loyalty to Germany’s squad ahead of the World Cup in Russia.

In a four-page statement sent out in three images on Twitter and Instagram, an angry Ozil saved his bombshell for the final salvo.

“It is with a heavy heart and after much consideration that because of recent events, I will no longer be playing for Germany at international level whilst I have this feeling of racism and disrespect,” he said.

The Arsenal midfielder blamed the German Football Federation (DFB) for failing to defend him against his most strident critics – reported in an article from Channelnewsasia

“Arguably the issue that has frustrated me the most over the past couple of months has been the mistreatment from the DFB, and in particular the DFB President Richard Grindel,” he said.

He said that Grindel and Germany coach Joachim Loew had asked him to give a “joint statement to end all the talk and set the record straight” over the picture with Erdogan.

“Whilst I attempted to explain to Grindel my heritage, ancestry and therefore reasoning behind the photo, he was far more interested in speaking about his own political views and belittling my opinion.”

Ozil, 29, said he had been unfairly blamed in Germany for the side’s shock first-round defeat at the World Cup.

“I will no longer stand for being a scapegoat for his (Grindel’s) incompetence and inability to do his job properly,” he said.

“In the eyes of Grindel and his supporters, I am German when we win, but I am an immigrant when we lose.”

Ozil had said earlier that he was true to both his Turkish and German origins and insisted he did not intend to make a political statement by appearing with Erdogan.

‘I HAVE TWO HEARTS’

“Like many people, my ancestry traces back to more than one country. Whilst I grew up in Germany, my family background has its roots firmly based in Turkey,” he said.

“I have two hearts, one German and one Turkish.”

Ozil said that despite the timing of the picture with teammate Ilkay Gundogan and Erdogan – shortly before the president won re-election in a poll endowing him with sweeping new powers – “it wasn’t about politics or elections, it was about me respecting the highest office of my family’s country”.

“My job is a football player and not a politician, and our meeting was not an endorsement of any policies,” Ozil added.

Germany is home to more than three million people of Turkish origin.

Manchester City midfielder Gundogan presented Erdogan with a signed club shirt on which he had written “to my president”.

The two players were booed by German fans in pre-World Cup friendlies over their appearance with the Turkish strongman, and Ozil said Sunday that he and his family had received threats.

After the tournament, Ozil came in for stinging criticism by DFB officials and German politicians across the spectrum.

‘RIGHT-WING PROPAGANDA’

Ozil said he could abide criticism of his performance on the pitch but not when it was linked to his ethnic background.

“If a newspaper or pundit finds fault in a game I play in, then I can accept this,” he said.

“But what I can’t accept are German media outlets repeatedly blaming my dual-heritage and a simple picture for a bad World Cup on behalf of an entire squad,” he added, calling it “right-wing propaganda”.

“This crosses a personal line that should never be crossed, as newspapers try to turn the nation of Germany against me.”

He also furiously denounced disparaging remarks by former captain Lothar Matthaeus, who he noted “met with another world leader a few days back and received almost no media criticism” in an apparent reference to an appearance with Russian President Vladimir Putin.

And Ozil railed against an unnamed sponsor, which, he said, removed him from promotional videos for the World Cup after the pictures with Erdogan emerged.

“For them, it was no longer good to be seen with me and (they) called the situation ‘crisis management’,” he said.

Source: AFP/Channelnewsasia

Homedy: Raising funds from Genesia Ventures for Vietnam’s reality portal

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Vietnam’s real estate connection platform Homedy.com has raised its second round of funding from Japanese early stage investor Genesia Ventures, impact investment firm Access Ventures and Mynavi Corporation – DealStreetAsia reported.

Financial terms were undisclosed but Mynavi Corporation is said to have led the round.

Return backer Genesia Ventures, which injected funds in Homedy.com in June last year along with Pix Vine Capital, is the biggest investor in the startup.

Homedy was launched in 2015 by Duc Nguyen and Hieu Vu. The duo hold extensive expertise in the digital marketing and media industries in Vietnam, having run music streaming pioneer NgheNhac.info which was founded in 2003, and digital advertising company Moore.vn which was acquired by Japan’s Irep Co in 2014.

Following the fundraise, Homedy will focus on big data and mobile app, develop its real estate portal platform, hire key personnel, and expand to foreign markets. The company will also launch its interior design project, My Homedy, which will help users design their own home.

By the end of the year, Homedy.com will have branches in Da Nang, Nha Trang and targets to expand the market to Southeast Asia such as Indonesia, Philippines by 2020, it said in an announcement.

“Homedy.com has grown rapidly following the fund’s investment last year,” said Yuto, Principal of Genesia Ventures, adding that he expects Homedy to be the one-stop real estate platform with an extensive database of business as well as interior design.

Genesia Ventures was set up in August 2016 and is led by Soichi Tajima, the former CEO of Cyberagent Ventures. The firm focuses on the seed and pre-series A stages across various sectors, including new economy, digital media, AI and robotics.

The Japanese early stage investor plans to raise its second fund with a target corpus of $80-100 million next year that will focus on investments in both Japan and Southeast Asia, the VC firm’s CEO told DEALSTREETASIA in a recent interaction.

Mynavi is one of the leading Japanese companies providing human resources services and B2C information channels, including a website for renting real estate information. Access Venture is focused on supporting startups in Vietnam, Indonesia and South Korea. The VC firm is led by two management partners – Charles Rim and John Chang. Rim led the M&A deal of Yahoo and Google in Asia with extensive experience in technology investment and VC while Chang is the co-chair of APAC for Barclays and CEO of Deutsche Securities Korea.

Flash floods hit Vietnam at least 20 people dead, 16 missing

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Heavy rain brought about by tropical storms have claimed more than 20 lives in Vietnam and the Philippines, while India and Myanmar are bracing for more rain in the coming days – Reporting by The Straits Times

Flash floods in Vietnam have now claimed at least 19 lives, the government said yesterday, as residents in affected areas sought safety in higher ground. An additional 13 people were unaccounted for.

Boasting a long coastline, tropical Vietnam is battered by floods and storms every year, with hundreds of lives lost from the annual monsoon barrage.

The remnants of Typhoon Son Tinh, now a tropical depression, made landfall last Wednesday night, the third tropical storm to hit Vietnam since the start of the year.

Floods and landslide from heavy rain have ranged far and wide and impacted rural and urban areas, including the capital Hanoi.

State-controlled VNExpress news site reported last Saturday that residents in Chuong My district on the outskirts of Hanoi were asked to leave their homes and get to higher ground for fear of heavy floods.

“We must be active in moving our furniture out of homes. From last year’s experience, we did not have time to run,” a local resident was quoted as saying.

Published photos showed homeowners in plastic raincoats moving bags of goods and livestock.

“My house is in a very low location so I have to move all the rice to higher places,” resident Nguyen Duy Dong told VNExpress.

“Since the afternoon, we have moved more than one tonne of rice.”

The amount of land under siege has also spiked, with over 15,000 houses damaged or destroyed and more than 110,000ha of crops inundated. Several roads have also disappeared under the water.

Many countries in the region experience their rainy season between June and November.

In the Philippines, tropical depression Josie is on its way out of the country but will continue to induce heavy rain over the western sections of Luzon and Visayas today.

The Philippine Atmospheric, Geophysical and Astronomical Services Administration urged the public, especially those living near river channels and in low-lying and mountainous areas, to be on alert for possible flash flood or landslide.

At least five people have died and more than 700,000 were affected by days of heavy rain, which caused flooding and landslides, the Philippine authorities said yesterday.

At least three tropical cyclones battered the Philippines in recent weeks. Josie is the Philippines’ 10th tropical cyclone for 2018. The country usually gets an average of 20 tropical cyclones per year.

The monsoon season is also under way across South Asia, with India bearing the brunt.

With a low-pressure area developing into a depression over the Bay of Bengal, the rain intensity may pick up in the next two days after a period of light rain in the past few days.

Since the start of the monsoon rains, hundreds have lost their lives in floods and landslides across India, which accounts for one-fifth of global deaths due to floods.

Myanmar’s coastal areas could also be hit by heavy rain as rain clouds from the storm are forecast to pass middle areas of Myanmar and reach Bangladesh, where more than half a million Rohingya are in refugee camps in low-lying areas.

Meanwhile, rescue activities are ongoing in western Japan two weeks after floods and landslides triggered by torrential rain killed more than 200 people.

There are still about 4,500 people living in emergency shelters and the authorities are considering housing the displaced people on a cruise ship, reported the Japan Times.

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