The 3rd edition of Denimsandjeans.com Vietnam Show will take place at Riverside Palace, Ho Chi Minh City on June 27-18, heard a press conference on June 18.
The event, jointly organised by the Vietnam Textile & Apparel Association (VITAS) and Balaji Enterprises of India, will introduce the world’s latest fashion trends and achievements in the Denims industry.
According to Vice Secretary of VITAS Nguyen Thi Tuyet Mai, the event will see the participation of over 40 reputable firms specialising in producing denims, accessories and textiles from Vietnam and more than ten countries and territories, including India, Switzerland, Thailand, the Republic of Korea, China and Singapore.
By signing many free trade agreements (FTAs), especially the European Union (EU) – Vietnam FTA and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam becomes one of the leading attractive destinations for investors who are interested in textile and garment industry, Mai said.
The show is quite attractive to retailers, fashion brands and textile companies from around the world, especially those from the EU and the US, she said, adding that it will provide a good chance for exhibitors to seek and set up partnerships.
Sandeep Agarwal, CEO of Balaji Enterprises, highlighted the theme “Rock and Roll” of the event, which will look back on the formation and development of Denims and Jeans industry in connection with Rock and Roll music over the past years.
In the framework of the event, six seminars will be held with the participation of international experts who will focus their discussion on the future of denim supplies, the denim supply chain link for sustainable development, and the conversion from Analog to Digital
Here are top 10 places which are good vantage points to admire the fantastic cityscape of Vietnam’s most cosmopolitan city. Follow us up to the rooftop Bars. Cafes, and Restaurants for the scenic views of Saigon skyline.
Top Of The Town
Arriving here, you will be surprised at the classic and elegant design of Top Of The Town, giving the vibe of a fairytale garden or the ancient Greek mythological palace. Having a spectacular 360-degree view of Saigon, Top Of The Town is the perfect destination for celebrations, romantic dinners or private parties with its international wine list and à la carte menu. Yet, the food menu is limited in comparison with the drinks one, and water is free here. Come and join the vibrancy in the terrace bar with locals, expats, and tourists.
Photo via english.thesaigontimes
Website: https://www.facebook.com/TopoftheTownBarandRestaurant (Vietnamese) Address: #18 An Duong Vuong Street, Ward 9, District 5, HCMC / 25th floor of Windsor Plaza Hotel Opening hours: 7:00 am to 11:00 pm (Everyday) Tel: (+84) 28 3833 6688 Price range: 100,000 – 660,000VND
Café EON
Located on the 50-52th floor, Café EON is now the highest cafés in Saigon for a stunning view, especially suitable for night get-togethers when the city is overwhelmed with colorful lights. This venue features two concepts, one of those fond of overlooking the cityscape ‘from above the cloud’ while enjoying tasty drinks and the other concentrates on Asian foods. However, since it is ‘on the cloud’, the cheapest price for a drink here is 120,000 VND, which is still better than buying a ticket to Bitexco to see the city. (For more information, the 49th floor of Bitexco Tower is Saigon Skydeck where you can also get a 360-degree panorama of the city through a telescope with an entrance fee of 200,000 VND.)
Photo via eon51.com
Website: http://eon51.com/cafe-eon/ (English, Vietnamese) https://www.facebook.com/EON50Cafe/?hc_ref=NEWSFEED (Vietnamese) Address: #2 Hai Trieu Street, Ben Nghe Ward, District 1, HCMC / 50-52th floor of Bitexco Tower Opening hours: 8:00 am to 11:30 pm (Everyday) Tel: (+84) 28 6291 8750 Price range: 120,000 – 260,000VND
Moonlight Café
Located on the top floor of Parkson CT Plaza building near Tan Son Nhat Airport, this is the cafe known for the ideal airplane view of Saigon. Therefore, ‘airplane café’ has become the brand of this cafe terrace. Sitting in the café and that is a stunning view you might see! Just lean back to the wooden chair, relish a coconut juice, watch an airplane preparing to take off on a glittering night, and so on. You can also observe the airport on the way up by using the outside glass elevator (this elevator is only available for floor 10 ‘CGV Cinema’ and floor 11 ‘Moonlight Café’). All these things will make your night unforgettable. There are also a ball house for kids and some live piano performances after 8 pm.
Photo via foody.vn
Address: #60A Truong Son Street, Ward 2, Tan Binh District, HCMC /11th floor of Parkson CT Plaza Opening hours: 10:00 am to 10:00 pm (Everyday) Tel: (+84) 28 3547 2555 Price range: 35,000 – 65,000VND
Lac Dinh House
The cool, shady Turtle Lake area is always an ideal place for those who like to savor snacks while observing Saigon’s busy traffic. But have you ever thought of watching the scene from above to see the whole picture of this modern yet classic area? If the answer is yes, then don’t hesitate to go to Lac Dinh House. Frankly speaking, Lac Dinh is not so much a café as a tea shop. At Lac Dinh, you don’t need to be a connoisseur of tea, just say what you like and the mistress will make a teapot that meets your requirements. Tea will be served as a set along with a small teapot and a boiling oven to keep it hot. Cakes and dishes are made to her own recipe, so the taste is very distinctive such as cheesy chicken and rice, tiramisu, avocado double cheesecake, black forest cake, carmen cake, cherry scones, apple pie and even traditional dishes, namely water fern cake, bánh xèo (Vietnamese pancake). You can access the website to know more about the day’s menu as it varies every day. Rarely does anyone complain about cakes and tea; but if they do, it is probably about having to climb the stairs to the 4th floor and there are so few tables that it is frequently crowded. Therefore, reservation is a must. Also, the store closes as soon as the dishes are out of stock and the parking lot on the ground level is for Phuc Long café only so you should call the number below in advance.
Photo via blogdulich.com.vn
Website: https://www.facebook.com/lacdinhtram/ (Vietnamese) Address: #6 Cong Truong Quoc Te Street, Ward 6, District 3, HCMC / 4th floor Opening hours: 10:00 am to 10:00 pm (Everyday) Tel: (+84) 901 872 105 Price range: 45,000 – 200,00VND
Chill Skybar
What is more awesome than having delicious cocktails while watching the sunset from the top? And if you have a plan for night parties, this is the perfect place. Located on the 26 & 27th floor, many music stars come here to sing frequently and famous local and international DJs are ready to ramp the energy up every weekend. Fancy as it seems, if you don’t reserve in advance, you might even have difficulty getting a space to stand, much less sit, especially at weekends. Chill also have a restaurant on the 27th floor called 27 Grill, separate from the Chill Skybar that is outdoor on the terrace, specializing in steaks. So you can enjoy the view of Saigon with the outstanding Bitexco building before fill your stomach up as the food preparing time is quite long. Most importantly, men coming here have to wear trousers and shoes, wear shorts and slippers and the securities won’t let you in. As for women, high heels are not recommended since you have to stand most of the time, unless you arrive here before 10 when there are fewer customers.
Located on the rooftop of a building in District 1, Mary Jane’s The Bar is an ideal place for young people who love romantic outdoor space and photography. From here, you can enjoy a cool atmosphere on high and observe Saigon from when the sun sets until it glitters in the lights at night. The bar is divided into different areas with different seating styles and you will not have a hard time getting the chance to relax and enjoy the fresh air. There are also long benches and tables for groups with lots of greenery, flowers and graffiti drawings. Sadly, there are some minus points. The drinks are quite bland according to some customers and options are limited. This place is also difficult to find as there is no signboard at the front. So for the entrance, search for the entry of the bank, take the elevator to the 10th floor and take the last stairs up or you can ask the security.
Photo via media.foody.vn
Website: https://www.facebook.com/maryjanethebar/ (Vietnamese) Address: #85 Nguyen Huu Cau Street, Tan Dinh Ward, District 1, HCMC /11th floor Opening hours: 7:00 am to 10:00 pm (Everyday) Tel: (+84) 903 104 319 Price range: 30,000 – 200,000VND
Pandora Sky Lounge
If you are looking for a suitable space to watch Saigon at night, Pandora Rooftop Lounge is one of the best options. Being one of the first two rooftop bars in HCMC, located in the prime location of the city, Pandora is divided into two areas: hip-hop music indoors and deep/tropical house music outdoors. Prices here are quite high (a mixed-fruits dish at 490,000VND, shisha at 399,000VND, a cocktail at 98,000VND, cheapest outdoor drinks for a group at 990,000VND and food at 120,000VND or more). But if you come during 6-9pm every day, which is called ‘Happy Hours’, you are offered 50% discount on drinks & shisha and 20% discount on the total bill for food. Yet, ironically, the chefs don’t start cooking until 7:30 pm according to some reviews. And 6-7pm is the suitable time period for couples with romantic dates because it is not very crowded at that time.
Website: https://www.facebook.com/PandoraSkyLounge (Vietnamese) Address: #36 Bui Thi Xuan Street, District 1, HCMC / 14th floor of HDTC Building Opening hours: 6:00 pm to 3:00 am (Everyday) Tel: (+84) 28 3926 0455 – (+84) 938 222 324 Price range: 200,000 – 490,000VND
Cloud 9 Lounge (The Fusion)
Situated right next to the Turtle Lake, Cloud 9 Lounge is a perfect hang-out for tourists. The café is divided into 2 different areas. The 6th floor has a modern interior design in harmony with warm lighting, and the rooftop lounge is designed and furnished in a spacious, airy alfresco style. The roof terrace is fantastic, not the highest but what you find will surprise you. It is like you are transported out of the city and into a tropical setting, among lovely greenery with well-placed bamboo and plants. There are also private corners so you can chat with your friends in a more intimate atmosphere. Cloud 9 offers diners a wide selection of international wines along with beers, creative cocktails, and traditional Asian cuisine. Moreover, every Friday and Saturday, DJs come here to rock the place and bring absolute entertainment to everyone with music varies from half-decent dance music to average cheesy pop. But the main selling point still is the view of the bright spots of the city as the sun sets.
Photo via diadiemanuong.com
Address: #2bis Cong Truong Quoc Te Street, Ward 6, District 3, HCMC / 6-7th floor of Hai Nam Building Opening hours: 5:00 pm to 00:00 am (Everyday) Tel: (+84) 909 445 544 – (+84) 983 160 521 Price range: 200,000 – 400,000VND
Shri Restaurant & Lounge
Located on the 23rd floor of Centec Tower, this modern, comfortable and stylish restaurant – café is the perfect place to meet up and enjoy Asian cuisine with panoramic views of the city. The word ‘Shri’ in Sanskrit means ‘light’, as this location uses transparent glass to receive multiple sources of light. In the evening, the place is sparkling with the light from the city, creating a romantic atmosphere suitable for couples and intimate dates with friends and family. Customers say that there are about 6-7 tables in the restaurant yet it is not often crowded. And for over six years, Shri has been famed for its delicious Asian and Spanish grill dishes, especially the savory and tangy goose liver paste dish, with the largest selection of international wines and cocktails.
Photo via therooftopguide.com
Website: http://shri.vn/ (English) https://www.facebook.com/shri.restaurant/ (Vietnamese) Address: #72-74 Nguyen Thi Minh Khai Street, District 3, HCMC /23rd floor of Centec Tower Opening hours: 10:00 am to 00:00 am (Everyday) Tel: (+84) 28 3827 9631 Price range: 300,000 – 660,000VND
Café De La Poste
With a beautiful location in the heart of the city, next to HCMC Post Office and opposite Notre Dame Cathedral, Café De La Poste is a great place to enjoy coffee and have a date with Saigon. Being one of the rarest venues with a panoramic view of the most beautiful area of Saigon, its French architecture reminisces the beauty of the Pearl of the Far East, gracefully contrasts with the glittering modern buildings. Starting off the morning at Café De La Poste with a cup of Noisette coffee while watching the vibrant and liberal lifestyle of Saigoneses is absolutely refreshing. Café De La Poste is also a favorite destination of travelers not only for the view of Saigon architecture but also for the European, American and Vietnamese cuisines and the bar with an attractive wine rack. And don’t forget to try Vietnamese beef and vegetable stew (bò kho) and shredded pork skin bánh mì – two most positively rated dishes here. Sadly, a few customers were displeased at the slow service when having to wait for 10-15 minutes for food and some unattentive waiters. Yet, why not come here to admire the view and see if those complaints are true?
Photo via tripadvisor.com
Website: https://www.facebook.com/cafedelapostevietnam/ (Vietnamese) Address: #2 Cong Xa Paris Street, Ben Nghe Ward, District 1, HCMC Opening hours: 7:00 am to 11:00 pm (Everyday) Tel: (+84) 28 3823 1634 Price range: 49,000 – 149,000VND
HÀ NỘI — MobiFone has sent messages to its customers announcing that the operator stopped providing services with e-wallet Vimo from June 7.
Vimo e-wallet is run by Vimo Technology Joint Stock Company. It is a mobile payment service for electricity, water, internet and telephone bills and money transfer.
Representatives of Vimo e-wallet told Thanh Niên (Youth) newspaper that the deal had allowed MobiFone’s customers, who use feature phones, not smartphones, to use Vimo by using USSD code 234#.
However, few MobiFone subscribers used the Vimo wallets. Therefore, to cut operating costs, the two sides decided to halt the service.
For customers who do use Vimo wallet via USSD, they need to download the Vimo application on smartphones to continue accessing the service.
Customers who use smartphones can continue to use the service without any changes.
Kuala Lumpur-based payment solutions provider GHL Systems Bhd has downsized its proposed acquisition of equity interest in Vietnam’s MPOS Global to 6.1 per cent instead of 31.16 per cent planned earlier citing non-fulfillment of certain conditions, it said in a filing on Bursa Malaysia today.
GHL also cited regulatory requirements, MPOS Global’s capital needs and business environment in Vietnam as other reasons for truncating the size of the transaction.
“GHL and MPOS have on 18 June, 2018 executed a share subscription form for GHL to subscribe for 326,797 new ordinary shares of MPOS Global (representing 6.1 per cent of the total paid-up shares of MPOS Global) at the price of $1.53 per MPOS Global share on the same basis as the revised share subscription agreement,” the filing noted.
“The 6.1 per cent equity interest in MPOS had been settled via the $500,000 deposit paid for the proposed acquisition,” said GHL.
The closing date for MPOS Tehcnology JSC has been extended to December 14, 2018. GHL declared the proposed acquisition is now completed with the firm owning 6.1 per cent stake in MPOS Global.
Last November, GHL had agreed to invest more than $3.3 million into MPOS Global, as part of its efforts to strengthen its presence and gain immediate access in Vietnam.
Earlier this month, it raised $21.2 million from UK-based private equity firm Apis Partners by way of 65 million newly issued shares subscription issued at RM1.30 per share. Last year, another PE firm Actis bought a 44.37 per cent stake in GHL for $67.25 million from previous investor Creador and GHL executive vice-chairman Simon Loh.
(Reuters) – Intel Corp, the world’s biggest chipmaker by revenue and a prominent U.S. manufacturer, could avoid the most severe effects of a new list of Chinese tariffs proposed by U.S. President Donald Trump by shifting its production among its facilities, analysts said Monday.
On Friday, Trump said he planned to push ahead with tariffs on $50 billion worth of Chinese imports. While chips were largely spared from the initial list of targeted goods released in April, U.S. trade officials on Friday released a second tariff list of 284 products worth $16 billion that includes the processor and memory chips at the heart of Intel’s business.
Those tariffs will not go into effect until after a public comment period, and there is a chance that chips could be cut from it before it is made final, analysts said. But Intel shares dropped 3.4 percent to $53.22 on Monday on investor concerns. Late Monday, Trump also announced he might pursue $200 billion more in tariffs on Chinese goods, though it was unclear whether the list would include more chips or computing products that might impact Intel.
Intel could shift its production strategies to avoid much of the blow. Intel produces raw chips at six so-called wafer fabs, with three in the United States, one in Ireland, one in Israel and one in China. From there, chips go to so-called assembly and test facilities.
After that, they are sold to Intel’s customers, large computer brands or contract manufacturers who work on their behalf. Most of those entities are legally based in China because that is where most electronics are built, and that explains why Intel booked $14.8 billion in China revenue in 2017.
But it is Intel’s $12.5 billion revenue from the United States that is at risk. If Intel makes a chip at its U.S. plants in Oregon, Arizona or New Mexico, then sends it to China for low-level assembly work and then brings it back so it can be put into a device manufactured in the United States, the chip would get hit by the tariff.
But Intel also has assembly and test centers in Costa Rica, Malaysia and Vietnam. Chips from non-Chinese wafer fabs sold to American companies that pass through those facilities likely would not be hit.
“My sense is they can probably skip most of the tariffs,” said Dan Hutcheson, CEO of VLSI Research Inc.
Intel does have a factory in Dalian, China where it makes memory chips, which would be directly impacted by the tariff if purchased by U.S. customers directly. While memory chips made up only $3.5 billion of Intel’s $62.7 billion in revenue last year, they are viewed as a key driver of the company’s plan to diversify away from its heavy dependence on CPU chips.
“Trade wars in general are going to be bad for the global economy, and semiconductors tend to be global,” said Bernstein analyst Stacy Rasgon.
The assembly and test work that many chipmakers carry out in China makes up only about 10 percent of the value of a chip, with the design and manufacturing making up the bulk of a chip’s value. Jimmy Goodrich, vice president of policy for the Semiconductor Industry Association, said chipmakers could be forced to pay tariffs on their own products simply for doing a small portion of the work in China.
“We should be talking about a policy frame work that supports, not slows down, an industry that, unlike many others, still manufactures here in the U.S.,” Goodrich said.
TOKYO — Japanese prosecutors have called for the death penalty for Yasumasa Shibuya, a Japanese man who is accused of murdering a 9-year-old Vietnamese girl in Chiba prefecture on March 24 last year.
On the final day of the trial yesterday, prosecutors asserted that Shibuya, 47, committed a “cold-blooded, heinous and cruel” crime, and demanded the highest penalty for him.
However, defence lawyers argued the defendant was innocent and the evidence was not strong enough to charge him.
The Chiba Court announced it will issue a ruling on July 6.
Shibuya is accused of murdering Lê Thị Nhật Linh, a third grader living in Matsudo town.
Linh disappeared shortly after leaving her home on foot for her school on March 24, 2017. Her body was found two days later in Abiko, Chiba. She is thought to have been choked to death, based on marks found on her neck.
Shibuya was arrested on April 14, 2017 on suspicion of dumping Linh’s body. The same day, Japanese police served a new arrest warrant on the man, charging the suspect with murder and abandonment of the victim’s body, after tests results showed that DNA taken from Shibuya matched those of samples found on the victim’s body.
Shibuya was head of the parents’ association at the elementary school in Matsudo where the victim attended. He lives about 300 metres from the victim’s home.
Captain Kane scores a double to settle England’s nerves in its opening game of the tournament.
A stoppage-time header from two-goal Harry Kane gave England a 2-1 win over Tunisia in their opening World Cup Group G match.
A 35th-minute Ferjani Sassi penalty had cancelled out Kane’s 11th-minute opener.
After the break, England, who had wasted several good chances in the first half, struggled to break down the deep defending African side.
But from a Kieran Trippier corner, a glancing header from Harry Maguire found Kane at the back post and he nodded home to give England a winning start.
Earlier, a stunning volley from Dries Mertens and a Romelu Lukaku double broke the resistance of a brave Panama side on their World Cup debut as Belgium cruised to a 3-0 win.
Mertens hammered home a superb volley two minutes into the second half, sending the ball arcing over Jaime Penedo after Panama struggled to clear a cross.
Lukaku’s hard work up front was rewarded when he headed home Kevin De Bruyne’s brilliant pass off the outside off his foot to make it 2-0 in the 69th minute and the big striker latched on to an Eden Hazard pass to complete the scoring with a neat finish.
In the first game of the day, Sweden won an opening World Cup game for the first time since 1958 with a narrow 1-0 victory over South Korea.
After dominating the game but missing a string of chances, the Swedes won a 65th-minute penalty when Kim Min-woo brought down Viktor Claesson in the box. Salvadoran referee Joel Aguilar initially waved the Swedes away, before being called to consult the Video Assistant Referee system.
In the second VAR-awarded penalty of the World Cup, Sweden’s 33-year-old captain Andreas Granqvist swept the ball low and left of impressive goalkeeper Cho Hyun-woo.
We explore the popularity of the South East Asian market with Taiwanese medical beauty name, Chlitina, following its expansion into the region.
“South East Asia is experiencing rapid economic growth. As of the end of December last year, the Asian Development Bank put regional growth rate at 6% for 2017,” explained Shou-Kang KAO, Taiwan and South East General Manager, Chlitina.
In May 2018, Chlitina announced it plans to open 50 beauty salons in Vietnam by 2020 through its franchise.
Driving forces
Chlitina states that the region’s culture and beauty trends are two core reasons to widen its presence in South East Asia, as Shou-Kang shared: “Cultural proximity played a role in our choice of destinations too. Furthermore, women in South East Asian countries usually share the same outlook on beauty and skin care as Chinese women.”
Rapid development
With such an aggressive growth strategy in place, we asked Shou-Kang KAO, Taiwan and South East General Manager at Chlitina why Vietnam, in particular, was selected as a key market for its expansion.
“We have noticed that the Vietnamese economy is growing fast (6.6% in 2017 and forecast likewise at 6.6% for 2018),” stated Shou Kang.
Strengthening ties
The relationship between Chlitina’s domestic base, Taiwan, and the South East Asian area also played an important role in this decision: “Vietnam was identified as a priority, in part because over the past 20 years or so, Taiwan has developed strong ties with this country through the presence on the island of about 200,000 Vietnamese, among which over 100,000 have settled down here after marrying into Taiwanese families.”
All in all, Vietnam is an extremely safe country to travel in. Lonely Planet summary:
The police keep a pretty tight grip on social order and there are rarely reports of muggings, robberies or sexual assaults.
Scams and hassles do exist, particularly in Hanoi, HCMC and Nha Trang (and to a lesser degree in Hoi An).
Be extra careful if you’re travelling on two wheels on Vietnam’s anarchic roads; traffic accident rates are woeful and driving standards are pretty appalling.
Undetonated Explosives
For more than three decades, four armies expended untold energy and resources mining, booby-trapping, rocketing, strafing, mortaring and bombarding wide areas of Vietnam. When the fighting stopped, most of this detritus remained exactly where it had landed or been laid; American estimates at the end of the war placed the quantity of unexploded ordnance (UXO) at 150,000 tonnes.
Since 1975 more than 40,000 Vietnamese have been maimed or killed by this leftover ordnance. The central provinces are particularly badly affected, with more than 8000 incidents in Quang Tri alone.
While cities, cultivated areas and well-travelled rural roads and paths are safe for travel, straying from these areas could land you in the middle of danger. Never touch any rockets, artillery shells, mortars, mines or other relics of war you may come across. Such objects can remain lethal for decades. And don’t climb inside bomb craters – you never know what undetonated explosive device is at the bottom.
You can learn more about the issue of landmines from the Nobel Peace Prize–winning International Campaign to Ban Landmines (www.icbl.org), or visit websites of the Mines Advisory Group, which clears landmines and UXO.
Sea Creatures
If you plan to spend your time swimming, snorkelling and scuba-diving, familiarise yourself with the various hazards. The list of dangerous sea creatures includes jellyfish, stonefish, scorpion fish, sea snakes and stingrays. However as most of these creatures avoid humans, the risk is very small.
Government Travel Advice
The following government websites offer travel advisories and information on current hot spots.
Google will invest US$550 million in Chinese e-commerce powerhouse JD.com, part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com.
The two companies described the investment announced on Monday as one piece of a broader partnership that will include the promotion of JD.com products on Google’s shopping service. This could help JD.com expand beyond its base in China and Southeast Asia and establish a meaningful presence in U.S. and European markets.
JD.com’s U.S.-listed shares rose 2.5 percent to US$44.68 in morning trading on the Nasdaq.
Company officials said the agreement initially would not involve any major new Google initiatives in China, where the company’s main services are blocked over its refusal to censor search results in line with local laws.
JD.com’s investors include Chinese social media powerhouse Tencent Holdings Ltd, the arch-rival of Chinese e-commerce leader Alibaba Group Holding Ltd, and Walmart Inc.
“Given Walmart also has a close relationship with JD, I see (the investment) as further tightening of the Google/Walmart alliance, which seems focused on building a third force in ecommerce beyond Amazon and Alibaba,” said Atlantic Equities analyst James Cordwell.
Google is stepping up its investments across Asia, where a rapidly growing middle class and a lack of infrastructure in retail, finance and other areas have made it a battleground for U.S. and Chinese internet giants. Google recently took a stake in Indonesian ride-hailing firm Go-Jek, and sources have told Reuters that it may also invest in Indian e-commerce upstart Flipkart.
Google declined to comment on the rumoured Flipkart deal. The JD.com investment is being made by the operating unit of Google rather than one of parent company Alphabet’s investment vehicles.
Google will get 27.1 million newly issued JD.com Class A ordinary shares as part of the deal. This will give them less than a 1 percent stake in JD, a spokesman for JD said.
For JD.com, the Google deal shows its determination to build a set of global alliances as it seeks to counter Alibaba, which has been more focused on forging domestic retail tie-ups. Japan’s SoftBank Group Corp, which is making big internet investments around the globe, is a major investor in Alibaba.
“This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world,” said Jianwen Liao, JD.com’s chief strategy officer, in a statement.
Company officials said the deal would marry Google’s market reach and strength in analytics with JD.com’s expertise in logistics and inventory management.
The investment may give Google access to more consumer data, which can be used to boost usage of Google Shopping, said Morningstar analyst Ali Mogharabi.
FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) was holding crisis talks on Monday to find a stand-in boss for its Audi brand, a source familiar with the discussions said, after German authorities arrested Audi CEO Rupert Stadler as part of a probe into emissions test cheating.
Stadler is the most senior company official to be detained so far since Volkswagen (VW) admitted in September 2015 to using illegal software to rig U.S. emissions tests on diesel engines.
Munich prosecutors, who widened their probe into Audi earlier this month, said Stadler was being held due to fears he might hinder their investigation into the scandal, plunging VW into a leadership crisis.
“We need to find a solution for Audi’s leadership for the time when he is not here,” the source familiar with the talks said about Stadler’s position. “We will comment on this later.”
VW and Audi directors were discussing the leadership crisis in separate meetings on Monday, with one source saying Dutchman Bram Schot was the front runner to become interim Audi chief.
Germany’s Sueddeutsche Zeitung newspaper said VW’s supervisory board had already picked Schot for the job and only needed the formal approval of Audi’s directors. VW denied any such appointment had been made.
VW has set aside around $30 billion to cover fines, vehicle refits and lawsuits since its “dieselgate” scandal broke, and has announced plans to spend billions more on a shift to electric vehicles as it seeks to rebuild its reputation.
Whereas group CEO Martin Winterkorn resigned in the days after the cheating was disclosed, Stadler has remained in post and was this year promoted by new VW boss Herbert Diess in an overhaul aimed at speeding up the group’s reforms.
“His arrest is another low point in VW’s diesel saga,” said Evercore ISI analysts, who have criticized the group for a slow pace of reform. “Almost three years after the diesel scandal broke, it takes police to take action against the Audi CEO.”
The United States filed criminal charges against Winterkorn in May, but he is unlikely to face U.S. authorities because Germany does not extradite its nationals to countries outside the European Union.
The Munich prosecutors said the move against Stadler was not made at the behest of U.S. authorities. The 55-year-old was arrested at his home in Ingolstadt in the early hours on Monday, they said.
“The arrest warrant was made because of a risk that evidence might be suppressed,” Stephan Necknig, a spokesman for the Munich prosecutor’s office, told Reuters Television.
“During a search last week there were signs that the accused may tamper with evidence. To influence other suspects or witnesses, or people who could provide information to the investigating authorities,” he added.
Audi and VW said Stadler was presumed innocent unless proved otherwise. Stadler himself was not immediately available for comment.
At 1409 GMT, VW shares were down 3 percent at 156.08 euros, one of the biggest falls by a European blue-chip stock .FTEU3.
UNDER FIRE
Stadler has been under fire since Audi admitted in November 2015 – two months after parent VW – that it also installed illegal “defeat device” software to cheat U.S. emissions tests.
Munich prosecutors are investigating whether Stadler acted swiftly enough to stop deliveries of manipulated Audi models in Europe once emissions problems had emerged, a person familiar with the matter has told Reuters.
Stadler has held onto his post mainly thanks to the backing of members of VW’s controlling Porsche-Piech families. Before becoming Audi CEO in 2007, Stadler worked as chief of staff to VW’s former chairman Ferdinand Piech.
Earlier this month, Munich prosecutors widened their probe at Audi to include Stadler and another member of Audi’s top management, investigating them for suspected fraud and false advertising.
Stadler’s arrest will raise tensions on VW’s supervisory board, putting at risk a fragile truce between management, labor representatives and board members from the carmaker’s home region of Lower Saxony.
Most of VW’s emissions problems have been in the United States, where a total of nine people have been charged and two former VW executives have pleaded guilty and been sentenced to prison terms.
But investigations are continuing elsewhere. Last week, German prosecutors fined VW 1 billion euros ($1.2 billion) over the scandal.
Backed by ComfortDelGro Corporation Limited from Singapore, the merger between Vinataxi and Savico Taxi may help them overcome the competition with Grab and other ride-hailing applications.
Most recently, the representative of Vietnam Taxi Company (Vinataxi) has announced the plan to merge with ComfortDelgro Savico Taxi—the taxi brand that had to suspend operations in March due to heavy competition.
Vinataxi currently holds the third largest market share in the taxi sector in Ho Chi Minh City. Despite the firm claiming that its taxi business has not been much affected by Grab’s presence, its 2017 profit was only 10 per cent of the annual target. Notably, last year Vinataxi reported VND48.7 billion ($2.13 million) in revenue and VND1.2 billion ($52,553) in after-tax profit, equalling 49.8 and 9.87 per cent of the yearly targets.
The representative of Vinataxi expects that the merger with Savico Taxi will help increase revenue and profit from taxi business by six times compared to 2017.
Vinataxi was established in October 1992 by Tecobest Investment Ltd. (Hong Kong ) and Tracodi. In 2003, the Hong Kong partner transferred its holding to ComfortDelGro Corporation Limited from Singapore, one of the world’s largest land transport firms.
Once Vinataxi merges with Savico, ComfortDelGro Corporation Limited will be a common backer to both.
However, there are concerns that Vinataxi’s optimism is misplaced as Savico might not give it the expected boost, especially after it had to suspend operations due to competition.
Savico reported bleak business results prior to the suspension. Notably, according to Savico’s 2017 financial report, the taxi joint venture had total assets of VND92 billion ($4.038 million), however, its after-tax profit was VND235 million ($10,316) only. Previously, in 2016, its pre-tax profit was VND4.1 billion ($180,000), equaling 53 per cent of its plan for the whole year.
According to Savico, the purpose of ComfortDelgro Savico Taxi’s decision was to look for other business opportunities as well as safeguard the capital that Savico and ComfortDelgro contributed to the joint venture.
What is left for competitors if Vinfast starts selling cars at cost price?
Recently, images of the first two models of Vinfast’s sedan and SUV designed by Pininfarina through a $5 million contract sharing intellectual property rights from BMW are now exhibited at the Paris Motor Show at the end of last week.
With the logo V in front and the word Vinfast in the back, the IDG Sedan 02 design which won the public vote in the sedan line-up with 22,400 votes (36.2 per cent).
The vote for SUVs was won by IDG SUV 02, with 13,853 votes (22.4 per cent). However, according to information leaked on social media, IDV SUV 03 will also be introduced at Paris Motor Show. The commercial versions of these cars will be sold in 2019.
At Vingroup’s annual general shareholders’ meeting (AGM) taking place on May 31, Vuong stated that the domestic market is the priority of Vinfast. Although Vietnam is a competitive market, he believes Vinfast’s chances of success are high.
Vuong confirmed that Vinfast cars will beat competition in quality due to the highly automated manufacturing. There are 1,200 robots working in the welding factory of Vinfast.
Moreover, the selling price will be very different from market standards as profit will not be a priority for Vinfast as instead the firm will focus on capturing the market.
In the long term, however, Vinfast will export its cars. Russia and the surrounding countries will be the priority market at first because of the large population and the significant knowledge the leaders of Vingroup hold about this market.
“In the long term, Vinfast will be the mainstay business line for Vingroup. Vinfast will not only manufacture automobiles, but also set foot in the heavy industry through cutting-edge technology to manufacture so many things. This is the new target of Vingroup,” Vuong said the AGM.
With the total investment of VND35 trillion ($1.54 billion), the 335-hectare mega automotive factory project in Cat Hai (Haiphong city) is expected to place Vietnam on the global map of automobile manufacturing with the annual capacity of 250,000 electric motorbike and 250,000 cars in the first phase.
Doctors at Kon Tum General Hospital treat victims of the traffic accident that occurred in Lo Xo Pass in the Central Highlands Province of Kon Tum.—VNA/VNS Photo Cao Nguyên
KON TUM — Money from the road maintenance fund will be used to ensure traffic safety on Lo Xo mountain pass on Ho Chi Minh Road, said the Ministry of Transport following an accident that killed three and seriously injured 19 others in the Central Highlands province of Kon Tum.
The accident happened when a coach carrying 44 people bound for the southern province of Binh Phuoc fell off the road into a 20m deep abyss early Saturday morning. The dead included two 10-year-old children.
The injured victims are being treated at Kon Tum hospital.
According to Kon Tum’s traffic safety committee, the bus was operated by a company in the northern province of Hai Duong. It lost control and plunged into the abyss at about 2:15 am. By 6 am, rescue forces got all the victims out of the vehicle and took them to a local clinic for first aid.
Investigation into the accident’s cause is underway.
Chairman of the National Traffic Safety Committee – Deputy Prime Minister Trương Hòa Bình has conveyed his sympathy to the victims and their families and sent a team led by the committee’s Vice Chairman Khuất Việt Hùng to the site.
Deputy Minister of Transport Lê Đình Thọ yesterday inspected 27 kilometres of the Lo Xo pass.
Accidents often occur on the section of Ho Chi Minh Road – a key connection of the Central Highlands region with Da Nang City.
“We will spend the road maintenance funds to work on comprehensive solutions for traffic safety on the pass first,” Thọ said, adding that first solutions included installing more bars to slow speed, signals and traffic barriers.
Turning points on the pass would be widened, he said, noting that there should be more rest stops for drivers.
The 27km Lo Xo Pass runs through Kon Tum Province. On March 1, a serious accident occurred, killing one person and injuring dozens of others. — VNS
France, the US, Canada and Scotland have said no to plastic disposable cups, but they are still used widely in Vietnam despite warnings about the existence of carcinogens.
Plastic disposable cups are made of Polystyrene (PS), a kind of cheap lightweight plastic.
A US report showed that when subjected to low or high temperatures, PS can release styrene, an extremely toxic substance. It is an element that can cause cancer, affect DNA , cause neonatal disturbances and nervous system disorders, and change blood concentration.
Even a small volume can have negative consequences on health.
Plastics products usually contain a BPA that is carcinogenic, which can affect brain development and can cause hepatitis, endocrine disorders and infertility.
France is the only country which prohibits the use of disposable plastic items, with the ban expected to take effect from 2020.
To fight against pollution caused by plastic waste, the Scottish government has prohibited disposable coffee cups at office buildings of the country’s government agencies.
Demand for plastic disposable cups in summer is five times higher than usual because of high demand for sugarcane juice and bubble tea.
Meanwhile, plastic disposable cups are still used on a large scale in Vietnam, especially in summer. Reporters have found that demand for plastic disposable cups in summer is five times higher than usual because of high demand for sugarcane juice and bubble tea.
Nguyen Thu, the owner of a sweetened porridge shop on Nguyen Van Huyen street in Cau Giay district, said glasses are used for the customers who enjoy porridge right at the shop, while plastic disposable cups are used for take-away porridge.
“In winter, I can sell 20-30 glasses of sweetened porridge a day, while the figure is 100 in summer and 60 percent of the orders are take-aways,” she said, adding that she buys 2,000 plastic disposable cups each time and orders cups once every 20 days.
Tuan, the owner of a sugarcane juice shop at Phung Khoang Market, said he only uses plastic disposable cups because of their convenience.
“I don’t have much water to clean glasses here. So, it would be better to use disposable cups,” he explained. “I can save money and time with the cups. They are dirt cheap.”
Bau, the owner of a disposable cup at Dong Xuan Market, the biggest wholesale market in the north, said that these cups sell very well in summer, because of the increased demand for drinks.
“About 5,000-10,000 cups are sold every day,” she said, adding that 50 cups cost VND10,000-20,000. The cups are also sold online.
