Vietnamese homegrown VC ESP Capital to hike its early-stage funding ticket size

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ESP Capital, the one-year-old homegrown venture capital firm in Vietnam, targets to increase investments in pre-seed and seed rounds to $300,000 and hopes to help build the first unicorn in the country, said the firm’s new General Partner.

Le Hoang Uyen Vy (Vy Le), who was featured in the Forbes 30 Under 30 Asia in 2016, quit the CEO position at Adayroi, an e-commerce arm of real estate giant Vingroup, to head ESP Capital as General Partner earlier this month. She hopes to create more opportunities for startups in the early-stage and build the first unicorn in Vietnam.

“Vietnam has not seen a unicorn until now while Singapore, Indonesia, Philippines are spawning many new unicorns in Southeast Asia. Vietnam lacks early stage-focused venture capital funds that motivates ESP Capital to focus on this segment despite many risks,” Vy says.

ESP Capital has invested $1.4 million into total nine startups to date since the launch of its $20-million debut fund last year. She adds that the Vietnam-based VC firm will accelerate the expansion across Southeast Asia, not only Vietnam, and will be deploying capital in startups engaged in sectors such as housing, health, lifestyle and travel.

“Vietnam is listed among the top five ASEAN countries with the fastest increase in the number of middle-class consumers. Meanwhile, the number of young families is growing rapidly that will be the core focus of ESP Capital,” she said, adding that the VC firm will establish a system of portfolio which targets the needs of young families.

Most recently, ESP Capital led a $155,000 funding round in Fitness platform WeFit.vn which helps connect workout enthusiasts with fitness studios across Vietnam. WeFit is ESP’s fifth investment after Canavi, Jamja, Homedy, Luxstay and Cooky.

“Although the portfolio is very diversified, ESP Capital aims at reaching a common goal called “business convergence” in which different startups in the portfolio will create a general value for young people,” Vy says.

In addition to financial investments, ESP Capital also supports founders in strategic planning, operation, and capital mobilization for the next phase. ESP’s biggest goal is to help potential startups to become unicorns, which has a market capitalization of over $1 billion.

Vy graduated as valedictorian of the US’s Georgetown University, Business Administration Faculty. In Vietnam, before serving as CEO for Adayroi.com, she was the CEO of the snack chain Aiya and e-commerce platform specializing in fashion and beauty Chon.vn.

- By Quynh Nguyen, Deal Street Asia

Western Australian man returning from Vietnam is among three people arrested for child porn at airports around the country in just days

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Three people have now been caught with child porn at Australian airports

A 46-year-old was stopped by Australian Border Force officials in Perth

Child exploitation images were found on his mobile phone and laptop

A West Australian man is among three people stopped at airports in as many days for allegedly carrying child exploitation material.

The 46-year-old was returning to Perth from Vietnam when Australian Border Force officials searched a mobile phone and laptop, allegedly uncovering a number of images of child exploitation.

He was charged with importing child exploitation material and is due to face Perth Magistrate’s Court on Friday.

The incident followed two similar intercepts involving international travellers in Sydney and Melbourne on Monday.

A Sierra Leone national, who resides in Indonesia, arrived at Sydney International Airport on a flight from Jakarta after being interviewed there.

Images and videos of child abuse were allegedly found on two mobile phones and the man’s visa was immediately scrapped before he was put on a flight to Jakarta.

The third incident involved a 22-year-old Chinese national whose student visa was cancelled after he was allegedly found to be in possession of child abuse material at Melbourne Airport.

He arrived on a flight from Guangzhou on Monday and was found in possession of two mobile devices containing child exploitation material.

A West Australian man is among three people stopped at airports by Australian Border Force (stock image) in as many days for allegedly carrying child exploitation material

ABF Deputy Commissioner Clive Murray said his team was committed to stamping out the movement of the ‘sickening’ material.

‘Child exploitation is a global issue,’ he said in a statement.

‘We are co-operating with international law enforcement agencies to further investigate this unsavoury character and to prevent any harm to children here or overseas.’

By Australian Associated Press

Three fraud suspects from Taiwan detained in Vietnam

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Eight fraud suspects, including three from Taiwan, were detained in Vietnam on Saturday for their involvement in online telecommunications scams, Vietnamese media reported Sunday.

The identity of the three Taiwanese suspects have yet to be made public, according to Vietnamese media.

The reports said members of the fraud ring have swindled 10 billion dong (US$440,000) from Vietnamese people since February by posing as Vietnamese government officials.

Vietnamese police have stepped up their investigation of the case, suspecting that the group arrested may be a part of a bigger cross-border fraud ring active in Vietnam.

By Flor Wang

Vietnam calls for peaceful settlement in Syria

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Vietnam is concerned about the current situation in Syria and protests the use of force which threatens the normal life of innocent civilians and peace and stability in the region, Foreign Ministry spokeswoman Le Thi Thu Hang said on Sunday.

“We hold that all disputes and differences should be settled by peaceful means on the basis of international law, especially the United Nations Charter, and the principle of respecting independence and sovereignty of countries,” she said.

All sides should also absolutely adhere to the United Nations Chemical Weapons Convention, said the spokeswoman.

The U.S.-led military attacks on alleged chemical weapons facilities in Syria have raised grave global concern, with politicians calling strongly for relevant parties to return to dialogue and avoid an escalation of tensions.

The strikes, launched by the United States along with its allies Britain and France before daybreak Saturday, followed reports of alleged chemical weapons use in Douma near the capital city of Damascus on April 7.

Vietjet among Top 10 Vietnamese Excellent Brands in 2017

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Budget carrier Vietjet Air was honoured as among the top ten strong brands with prestigious development in 2017 at the Golden Dragon Awards & Vietnamese Excellent Brands Festival 2017 – 2018, organised by the Vietnam Economic Times in Hanoi on April 14.

The other top-ten businesses included Sun Group, MobiFone, Hung Loc Phat Real Estate Service JSC, TBS Group, Benthanh Group, Binh Dien Fertiliser JSC, Vissan JSC, Bach Dang Construction Corporation, and Southern Airports Services JSC.

Vietjet has been voted as one of Vietnam’s excellent brands for years due to its unceasing efforts to grow and contribute to the community’s development.

The development of the largest private airline not only helps to provide flight opportunities to millions of passengers, but also promotes Vietnamese brands to every Vietjet destination.

Vietjet is the first airline in Vietnam to operate under a new-generation aviation model, offering low costs and providing a wide range of services for customers to choose from.

Currently, Vietjet is operating 55 A320 and A321 aircrafts, carrying out more than 385 flights a day and has transported more than 55 million passengers, with 82 routes covering all destinations in Vietnam and international routes to Hong Kong (China), Singapore, the Republic of Korea, Taiwan, China, Thailand, Indonesia, Myanmar, Malaysia, and Cambodia.

– NDO

Vietnam ends AFC Women’s Cup after three losses

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Vietnam ended their journey in the group stage of the Asian Football Confederation (AFC) Women’s Cup in Amman, the capital of Jordan on April 13 after beaten by the Republic of Korea (RoK) 0-4.

The team boarded the flight home on the early morning of April 14 and will arrive in Hanoi at around 6:00am the following day.

Their flight had to change its path as an exercise of caution after the US, UK and France launched a coordinated air strike on Damascus, Syria, about 200 km away from Amman. The strike involved planes and ship-launched missiles, together with more than 100 projectiles in all, in response to an alleged chemical weapons attack.

The flight has to make a detour to ensure the 600-700 km distance from the air field of Syria.

The match with the RoK was the third loss of Vietnam in this event. Earlier, they lost 0-4 to Japan in their first match and suffered their second major defeat of 0-8 to Australia.

Vietnam launched several counter attacks but they didn’t break the RoK’s defence line. In the 14th minute, from a corner kick in the left wing, midfielder and captain Cho So Hyun coolly struck her header past the goalie Dang Thi Kieu Trinh of Vietnam to open the score for the RoK.

Cho’s goal was a driving force for the RoK team to play more aggressively. They put pressure on the Vietnamese side continuously.

-VNA

Vietnam will get USD 10 mln loan from ADB to improve trade

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The Asian Development Bank’s (ADB) Trade Finance Program (TFP) and Orient Commercial Bank (OCB) today signed a USD 10 million loan agreement to further support trade in Vietnam.

“We look forward to our continued partnership with OCB, especially with this additional trade finance assistance,” said Santosh Pokharel, TFP’s Relationship Manager for Vietnam.

“ADB is one of our significant strategic partners. With this agreement, we continue to promote competitive financing and provide responsive services to our trade clients,” said Nguyen Dinh Tung, Chief Executive Officer of OCB.

Since 2010, TFP has supported USD 9.1 billion in trade through 7,624 transactions covering both guarantees and direct funding in Vietnam, 72 percent of which is related to small and medium-sized enterprises. TFP works with 13 commercial banks in Vietnam.

OCB is one of the leading banks in Vietnam, with a focus on supporting export and import activities. Effectiveness, sustainability, and risk management are top priorities of OCB. Applying international standards since September 2017, OCB is the first Vietnamese bank to announce the completion of implementing Basel II project.OCB is rated B2 by Moody’s, the highest rating among Vietnam’s joint stock commercial banks.

TFP backed by ADB’s AAA credit rating, provides guarantees and loans to over 200 partner banks to support trade, enabling more companies throughout Asia to engage in import and export activities.

With dedicated trade finance specialists and a 24-hour response time, the program has established itself as a key partner in the international trade community, providing fast, reliable, and responsive support to fill gaps in the region’s most challenging markets.

TFP complements its financial support with a regular series of workshops and seminars to increase knowledge and expertise in trade finance products and operations, risk management, and fraud prevention.

Since 2009, ADB’s TFP has supported more than 12,000 small and medium-sized businesses across developing Asia—through over 16,600 transactions valued at over USD 30 billion—in sectors ranging from commodities and capital goods to medical supplies and consumer goods. In 2017, TFP supported approximately USD 4.5 billion in trade through 3,505 transactions.

-ADB

Vietnam weighs overnight alcohol ban

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The health ministry says it’s time to tackle the costs of excessive late night drinking.

Vietnam is considering options for limiting the sale of alcoholic drinks at night to prevent harmful effects of drinking, the health ministry said on Friday.

One option is to restrict the sale of alcohol to 11 a.m. – 2 p.m. and 5 p.m. to 10 p.m. everyday.

Under the second option, alcohol would only be sold from 6 a.m. to 10 p.m.

Both options exclude international terminals at airports as well as designated areas for food, entertainment and tourism.

A third option is to build a set of regulations different from the mentioned time limits, the ministry said, without revealing details.

The proposal is part of a draft law on preventing adverse affects of alcoholic drinks, which will be reviewed by lawmakers this October. The bill would also prohibit using booze in promotional campaigns and advertisements of drinks with alcohol by volume greater than 15 percent. Lighter alcoholic beverages may only be advertised from 10 p.m. to 6 a.m.

The health ministry also wants to discourage movies and television programs from showing drinking scenes.

Vietnam is famous for its beer drinking culture. It is widely believed that business deals in Vietnam tend to go more smoothly over a few drinks at the negotiating table. Vietnam is the biggest beer market in Southeast Asia, consuming nearly 4 billion liters last year.

Relatively low cost of local beer only makes it easier to also nhau – a Vietnamese habit of “eating and drinking for no particular purpose.”

But the cost of drinking far exceeds its economic value, said deputy health minister Nguyen Thanh Long.

The country spends on average $3.4 billion on alcohol each year, or 3 percent of the government’s budget revenue, according to official data. The figure translates to $300 per capita, while spending on health averages $113 per person, according to the health ministry.

As much as 40 percent of traffic accidents in Vietnam are linked to excessive drinking, according to the World Health Organization (WHO), an alarming rate for a country where road crashes kill an average one person every hour.

By Nam Phuong

Why the U.S. attacked Syria? This is the reason

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Trump orders missile strikes on Syrian regime

President Trump says the strikes are intended to deter the use of chemical weapons, which the Syrian government is accused of using on civilians in Douma, a suburb of Damascus.

Full text of President Trump’s remarks on the attack on Syria:

THE PRESIDENT: My fellow Americans, a short time ago, I ordered the United States Armed Forces to launch precision strikes on targets associated with the chemical weapons capabilities of Syrian dictator Bashar al-Assad. A combined operation with the armed forces of France and the United Kingdom is now underway. We thank them both.

Tonight, I want to speak with you about why we have taken this action.

One year ago, Assad launched a savage chemical weapons attack against his own innocent people. The United States responded with 58 missile strikes that destroyed 20 percent of the Syrian Air Force.

Last Saturday, the Assad regime again deployed chemical weapons to slaughter innocent civilians — this time, in the town of Douma, near the Syrian capital of Damascus. This massacre was a significant escalation in a pattern of chemical weapons use by that very terrible regime.

The evil and the despicable attack left mothers and fathers, infants and children, thrashing in pain and gasping for air. These are not the actions of a man; they are crimes of a monster instead.

Following the horrors of World War I a century ago, civilized nations joined together to ban chemical warfare. Chemical weapons are uniquely dangerous not only because they inflict gruesome suffering, but because even small amounts can unleash widespread devastation.

The purpose of our actions tonight is to establish a strong deterrent against the production, spread, and use of chemical weapons. Establishing this deterrent is a vital national security interest of the United States. The combined American, British, and French response to these atrocities will integrate all instruments of our national power — military, economic, and diplomatic. We are prepared to sustain this response until the Syrian regime stops its use of prohibited chemical agents.

I also have a message tonight for the two governments most responsible for supporting, equipping, and financing the criminal Assad regime.

To Iran, and to Russia, I ask: What kind of a nation wants to be associated with the mass murder of innocent men, women, and children?

The nations of the world can be judged by the friends they keep. No nation can succeed in the long run by promoting rogue states, brutal tyrants, and murderous dictators.

In 2013, President Putin and his government promised the world that they would guarantee the elimination of Syria’s chemical weapons. Assad’s recent attack — and today’s response — are the direct result of Russia’s failure to keep that promise.

Russia must decide if it will continue down this dark path, or if it will join with civilized nations as a force for stability and peace. Hopefully, someday we’ll get along with Russia, and maybe even Iran — but maybe not.

I will say this: The United States has a lot to offer, with the greatest and most powerful economy in the history of the world.

In Syria, the United States — with but a small force being used to eliminate what is left of ISIS — is doing what is necessary to protect the American people. Over the last year, nearly 100 percent of the territory once controlled by the so-called ISIS caliphate in Syria and Iraq has been liberated and eliminated.

The United States has also rebuilt our friendships across the Middle East. We have asked our partners to take greater responsibility for securing their home region, including contributing large amounts of money for the resources, equipment, and all of the anti-ISIS effort. Increased engagement from our friends, including Saudi Arabia, the United Arab Emirates, Qatar, Egypt, and others can ensure that Iran does not profit from the eradication of ISIS.

America does not seek an indefinite presence in Syria under no circumstances. As other nations step up their contributions, we look forward to the day when we can bring our warriors home. And great warriors they are.

Looking around our very troubled world, Americans have no illusions. We cannot purge the world of evil, or act everywhere there is tyranny.

No amount of American blood or treasure can produce lasting peace and security in the Middle East. It’s a troubled place. We will try to make it better, but it is a troubled place. The United States will be a partner and a friend, but the fate of the region lies in the hands of its own people.

In the last century, we looked straight into the darkest places of the human soul. We saw the anguish that can be unleashed and the evil that can take hold. By the end of the World War I, more than one million people had been killed or injured by chemical weapons. We never want to see that ghastly specter return.

So today, the nations of Britain, France, and the United States of America have marshaled their righteous power against barbarism and brutality.

Tonight, I ask all Americans to say a prayer for our noble warriors and our allies as they carry out their missions.

We pray that God will bring comfort to those suffering in Syria. We pray that God will guide the whole region toward a future of dignity and of peace.

And we pray that God will continue to watch over and bless the United States of America.

Thank you, and goodnight. Thank you.

Why Samsung of South Korea is the biggest firm in Vietnam

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It makes most of its smartphones there

THE Samsung Electronics factory in Thai Nguyen, in northern Vietnam, employs more than 60,000 people. Its three canteens serve some 13 tonnes of rice a day. It churns out more mobile phones than any other facility in the world. It and Samsung Electronics’ other factories in Vietnam produce almost a third of the firm’s global output. The company has invested a cumulative $17bn in the country.

But Samsung is as important to Vietnam as Vietnam is to it. Its local subsidiary’s $58bn in revenue last year made it the biggest company in Vietnam, pipping PetroVietnam, the state oil company. It employs more than 100,000 people. It has helped to make Vietnam the second-biggest exporter of smartphones in the world, after China. Samsung alone accounted for almost a quarter of Vietnam’s total exports of $214bn last year.

All this has been a huge boon to Vietnam’s economy. Despite unflattering reports about working conditions in Samsung’s factories, Thai Nguyen and another nearby province that hosts one, Bac Ninh, have become two of the country’s richest. Restaurants, shops and hotels have mushroomed around their industrial zones. The number of local firms listed as important suppliers to Samsung has increased sevenfold in the past three years.

And Samsung is just the biggest South Korean investor in Vietnam. Of the $108bn of foreign direct investment (FDI) Vietnam has received since it joined the World Trade Organisation (WTO) in 2007, a third originated in South Korea. LG Electronics, another South Korean giant, makes television screens in a $1.5bn factory in the port of Haiphong. Lotte, a South Korean conglomerate, owns a string of supermarkets.

Vietnam received FDI worth 8% of GDP last year—more than double the rate that went to comparable economies in the region. Foreign-owned firms now account for nearly 20% of the country’s output. They have grown more than twice as fast as state-owned enterprises over the past decade, despite the country’s nominally communist government. The economy grew at 7.4% year-on-year in the first quarter of 2018, one of the fastest rates in Asia.

For Samsung, Vietnam provides an attractive alternative to manufacturing in China. Its workforce is young, cheap and plentiful. That once was China’s appeal, but its workers are now seven years older, on average, and more than twice as expensive as Vietnamese ones. The cheap labour lowers costs in Samsung’s factories, giving the smartphone-maker an edge over Apple in less expensive handsets. Other countries in the region tend to export raw materials or components to China, where they are assembled into other products. Vietnam exports mainly finished goods.

Vietnam is also a valuable hedge against Chinese administrative caprice. Last year the Chinese government organised a boycott of South Korean firms and products to punish the South Korean government for deploying an American missile-defence system. Although the system was intended to protect against an attack from North Korea, China complained it could be used to undermine China’s defences too. The boycott, although now over, alarmed South Korean investors.

Vietnam, in contrast, is liberalising its economy to welcome foreign industry. In 2015 the government opened 50 industries to foreign competition and slashed regulation in hundreds more. It sold a majority stake in the biggest state-owned brewer, Sabeco, to a foreign firm last year. Vietnam’s enthusiasm for free-trade deals has made it especially alluring to foreign investors. It is a founding member of the Trans Pacific Partnership, a multilateral trade agreement that includes Australia, Canada and Japan, among others. It is due to sign a trade pact with the European Union soon. The deal it signed with South Korea in 2015 has made it South Korea’s fourth-biggest trading partner.

Moon Jae-in, the president of South Korea, visited Vietnam last month, with business delegates from Samsung and other companies in tow. It was his second trip to the country in less than a year in office. Presidential advisers have expressed the idea that South Korea should not content itself with being a “shrimp among whales” such as China and Japan, but instead become a regional power by embracing smaller allies. That, they claim, would make South Korea more of a “dolphin”, in command of its own fate. In Vietnam, at least, this plan is going swimmingly.

Vietnam Airlines continues to dominate international market

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Vietnam Airlines Group forecasts that its international share of traffic into Vietnam will slide a little by 2020, but it intends to maintain it above 30%, airline executives tell ATW’s sister publication Aviation Daily.

The group, which includes Vietnam flag carrier Vietnam Airlines and subsidiary Jetstar Pacific, holds a share of 35% of the international market. This makes it the largest player, despite the presence of more than 50 foreign carriers flying into Vietnam.

In the domestic market, the Vietnam Airlines Group holds a 59% share. The parent carrier accounts for a 44% share if Jetstar Pacific and regional subsidiary VASCO are excluded.

The Vietnamese market has seen a major influx of LCCs in recent years, which has had a particularly significant effect in the domestic arena. Domestic passengers carried by all airlines increased by 20%-30% per year between 2014 and 2016, although growth slowed to 11%-13% in 2017.

International passenger numbers in Vietnam were up 12% in 2017. LCCs now comprise almost 35% of Vietnam’s international market, according to estimates from Vietnam Airlines.

The Vietnam Airlines group intends to increase its own capacity growth in the next few years. Its combined capacity—including international and domestic—was up 6.9% in 2017. The group is aiming for an increase of 11% per year in the 2018-2020 period.

Connecting passengers comprise just 15% of Vietnam Airlines’ overall traffic, a relatively low share compared to other major carriers in the Southeast Asian region. The airline plans to keep its focus on building point-to-point traffic over the next five years rather than increasing connecting traffic.

After a partial privatization, the Vietnamese government has reduced its ownership stake in Vietnam Airlines to 86.2%. It aims to reduce its holding to 51% by 2020. Vietnam Airlines intends to list its shares on the Ho Chi Minh City open stock exchange during the second quarter of this year.

Adrian Schofield, avweekscho@gmail.com

Techcombank kicks off Vietnam’s biggest IPO

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GIC, Fidelity among cornerstone investors as country’s largest private sector bank aims to raise as much as US$922 million

VIETNAM Technological and Commercial Joint Stock Bank (Techcombank) launched on Friday the nation’s biggest IPO that aims to raise as much as US$922 million and has attracted global funds as cornerstone investors, a term sheet of the deal showed.

Equity issues are booming in the Southeast Asian nation as it speeds up a privatisation drive.

Strong interest from foreign investors and local funds has pushed up the benchmark index by 19 per cent so far this year, making it one of Asia’s best performers after rising nearly 50 per cent last year.

Techcombank, Vietnam’s largest private sector bank, is offering shares in a price range of 120,000-128,000 Vietnamese dong per share (S$6.88-S$7.34) that will raise between US$864 million to US$922 million, according to the term sheet seen by Reuter

Singapore wealth fund GIC, Fidelity Management and Research, and Dragon Capital are among funds coming in as cornerstone investors, the term sheet showed.

Techcombank’s IPO will be bigger than Warburg Pincus-backed Vincom Retail’s IPO last year, which raised about US$700 million.

Other big IPOs are on the anvil. In February, Reuters cited sources as saying Vingroup JSC, Vietnam’s biggest property developer, had picked foreign banks for a planned US$1 billion listing of its residential property business.

Techcombank’s IPO, which will be listed in Ho Chi Minh Stock Exchange, is expected to value the bank at about US$6.1 billion to US$6.5 billion, ranking it among the 10 biggest listed local companies.

Techcombank declined to comment on the equity offering.

The lender got a boost last month when Warburg Pincus agreed to invest more than US$370 million in it – the largest private equity investment in the South-east Asian nation.

A source with knowledge of the transaction said demand from cornerstone investors was so strong that about 76 per cent of the IPO was being allocated to such investors, much higher than in other IPOs.

He said investors were keen to put money in one of the fastest growing banks in South-east Asia while the country’s strong economic growth had also attracted a range of international investors.

“Techcombank is focused on retail and fee income – this is a story that long-only funds are keen to play,” said the source on condition of anonymity.

The 25-year-old bank provides a broad range of banking products and services to more than 5.4 million customers in Vietnam with an extensive network of 315 branches across the country.

Books for the IPO close on April 23 and Techcombank is expected to list on June 4. Morgan Stanley, Viet Capital Securities and Deutsche Bank are the joint global coordinators for the issue.

– REUTERS

The US, UK, and France teamed up for missile strikes in Syria — here’s everything we know they used

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The US, UK, and France conducted airstrikes against the Syrian regime on Friday night.

The US reportedly deployed B-1B bombers and launched Tomahawk missiles from three US destroyers.

France deployed Mirage and Rafale jets, while the UK deployed Tornado jets.
The US, UK, and France conducted air strikes against the Syrian government at around 9:00 PM EST on Friday night.

Secretary of Defense Jim Mattis said at a press conference on Friday night that double the amount of weapons were used compared with the strike in April 2017, which consisted of 59 Tomahawk missiles.

The US also deployed B-1B Lancer long-range bombers, and launched Tomahawk missiles from three US destroyers, the USS Porter, USS Cook, and USS Higgins, New York Times reporter Thomas Gibbons-Neff tweeted, citing a US official.

Gibbons-Neff tweeted that the French used fourth generation Mirage fighter jets, and that the British used Tornados jets.

France reportedly deployed Rafale jets loaded with SCALP-EG cruise missiles, according to The Drive’s Tyler Rogoway. A video has been released by the French government showing the Rafale jets taking off before the strike.

Rogoway also reported that the US B-1B bombers might have been carrying JASSMs, which are also air-launched cruise missiles.

 

The US military struck targets that were “specifically associated” with Syria’s chemical weapons program while minimizing the risk to civilians, according to chairman of the Joint Chiefs of Staff Joseph Dunford.

It’s unclear yet if any civilians were killed.

Mattis also said that the strikes were “a one-time shot,” and that future strikes would depend on whether Syrian President Bashar al-Assad continues to use chemical weapons.

– By Daniel Brown – Insider

Vietnam’s largest hydropower plant to get $377 mil boost

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The power station currently accounts for over a quarter of the country’s electricity output.

Vietnam is planning to splash out VND8.6 trillion ($377 million) on the country’s largest hydropower plant in Hoa Binh Province for an expansion project under a decision recently signed by Deputy Prime Minister Trinh Dinh Dung.

The plan will add two new power units in order to increase output capacity for the national power grid.

Vietnam Electricity Corporation will pay for 30 percent of the project, while the other 70 percent will come from commercial loans.

Power shortages are a perennial headache in the country.

Southern Vietnam will likely experience a shortfall of power in 2018 and 2019, the Saigon Times quoted Deputy Prime Minister Dung as saying last year.

In a bid to boost Vietnam’s power supply, the government has asked local producers to step up their effort to develop renewable energy.

However, in comparison to traditional energy sources, renewable energy is still relatively new in Vietnam. High installation costs and relatively low power prices have been discouraging investors from entering Vietnam’s wind energy market.

In a long-awaited decision last May, PM Nguyen Xuan Phuc approved a tariff hike for renewable energy to attract potential investors.

Launched in 1994, Hoa Binh is the largest renewable power generator in Southeast Asia, providing 27 percent of the country’s total power output.

by VNExpress

Blood brother of Hanoi’s revered turtle god found on city outskirts

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The discovery brings the number of known Yangtze giant softshell turtles in the world to four.

A rare turtle of the same species as the legendary beast that used to patrol Hanoi’s Hoan Kiem Lake has been identified in one of the city’s suburbs, the Asian Turtle Program (ATP) said on Thursday.

The discovery increases the number of known Yangtze giant softshell turtles in the world to four.

Experts from the ATP used DNA technology to confirm that the turtle in Xuan Khanh Lake, 60 kilometers (37 miles) west of central Hanoi, is of the endangered rafetus swinhoes species.

“The discovery brings new hope of mating for wild species and helps multiplication,” said Timothy McCormack, a researcher from the ATP.

The ATP received notice of sightings of a softshell turtle at Xuan Khanh Lake in late 2016, and commenced on-site observation.

The photo of the turtle taken in May 2017 at Xuan Khanh lake. Photo by Nguyen Van Trong/ATP

The results confirmed that the animal has the same genes as the deceased turtle from Hoan Kiem Lake in Hanoi.Last May, hi-res photos taken by a local fisherman suggested that the turtle belonged to the endangered species, prompting the ATP to collect water samples and send them to Washington State University for analysis.

The turtle is among the world’s 25 most endangered tortoise and freshwater turtle species, according to the International Union for Conservation of Nature’s Turtle Conservation Coalition. There are only four of the species left in the world, one of which can be found in Dong Mo Lake on the outskirts of Hanoi.

The species is more commonly known in Vietnam as the Hoan Kiem, or Sword Lake, turtle, named after a lake in Hanoi where the mythical Golden Turtle God was returned a magical sword. Prior to its discovery near the end of the 20th century, many thought it to be extinct.

In January 2016, a turtle of the same species, affectionately called Cu Rua (Great-Grandfather Turtle) by Hanoians, died in Hoan Kiem Lake due to old age. While the oldest tortoise in the world is now about 186 years-old, the turtle in Hoan Kiem Lake is estimated to have lived for 200 years.

The three other endangered turtle species found in the country are the Vietnamese Pond Turtle (mauremys annamensis), the Zhou’s Box Turtle (cuora zhoui) and the Southern River Terrapin (batagur affinis).

By Pham Huong (Vnexpress)

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