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The Emirates Group has released its 2021-22 Annual Report, which shows a strong recovery across its businesses.— Photo courtesy of Emirates The Emirates Group has released its 2021-22 Annual Report, which shows a strong recovery across its businesses. dnata returned to profitability, and significant revenue improvements were reported across Emirates and dnata as the group rebuilt its air transport and travel-related operations, which were previously cut back or curtailed by the pandemic. For the financial year ended 31 March 2022, the Emirates Group posted a loss of AED 3.8 billion (US$ 1.0 billion) compared with an AED 22.1 billion (US$ 6.0 billion) loss for last year. The group’s revenue was AED 66.2 billion (US$ 18.1 billion), an increase of 86 per cent over last year’s results. The group’s cash balance was AED 25.8 billion (US$ 7.0 billion), up 30 per cent from last year, mainly due to strong demand across its core business divisions and markets, triggered by the easing … [Read more...] about Emirates Group reports strong recovery in 2021-22

Institutions have become a major impediment to the nation’s aspiration to reach high income by 2045. Vietnam needs to shift its economic growth model and improve the government’s capacity to implement economic policy reforms and public investments, realizing its aspiration of reaching high-income status by 2045, a World Bank Group report says. Overview of the report launch. The World Bank Group’s Systematic Country Diagnostic Update, themed "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation,” emphasizes that Vietnam's traditional growth model faces major challenges from the Covid-19 pandemic, slowing globalization, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. “Vietnam’s GDP per capita has increased fivefold over the … [Read more...] about Effective policy implementation crucial for Vietnam to reach high-income status by 2045: WB

Secretary of HCMC Party Committee Nguyen Van Nen speaks at the event. The award ceremony aimed to celebrate the 132nd anniversary of the birthday of President Ho Chi Minh (May 19, 1890-2022) and 110 years since President Ho Chi Minh left the country to seek ways for national salvation (June 5, 1911). Speaking at the event, secretary of HCMC Party Committee Nguyen Van Nen praised exemplary models in studying and following President Ho Chi Minh’s example. They are typical of working and doing the work to the best of their abilities as well as contributing to the development of the country and HCMC. Secretary of HCMC Party Committee Nguyen Van Nen (4th, L) presents certificates of merit to outstanding individuals and teams . The City's Party Chief said that as a city that was hit the hardest during the Covid-19 pandemic, HCMC has shown positive signs of socioeconomic recovery . The municipal authorities launched HCMC’s theme for 2022 is “Safe, flexible adaptation to … [Read more...] about HCMC honors 355 exemplary models in following Uncle Ho’s example

Intel Capital, the investment arm of the world’s largest chipmaker, has announced it is pouring US$17 million into companies in Vietnam and Singapore, marking its first-ever investment in this country. The money will be split in undisclosed amounts between Vietnam Communications Corporation and Singapore’s Reebonz.com, Intel said during the World Economic Forum in Bangkok on May 31. The company called Southeast Asia one of the world’s fastest-growing markets for advanced technology, driven by robust economic growth and a rising middle class. “As a result, we’re seeing strong demand for e-commerce and cloud-based services across the region, and these investments will help to accelerate that trend,” said Gregory Bryant, vice president and general manager of Intel Asia-Pacific. Its Hanoi-based partner, an internet infrastructure and services company, declined to give a dollar figure for the investment. But, “It’s not a small sum,” the corporation’s deputy general director … [Read more...] about Intel Capital invests in Vietnam for first time

The Vietnamese general led a high-ranking Vietnamese military delegation to accompany Prime Minister Pham Minh Chinh who was on his working trip to the U.S. to attend the ASEAN - U.S. Special Summit. On May 16, at the U.N. Headquarters, Sr. Lt. Gen. Pham Hoai Nam worked with General Birame Diop, military adviser and assistant secretary-general. At the meeting, the Vietnamese general thanked the U.N. for choosing and supporting Vietnam in deploying the Level-2 Field Hospital Rotation 4 and the Engineering Company Rotation 1 to the U.N. peacekeeping missions in South Sudan (UNMISS) and Abyei (UNISFA). He hoped that the U.N. will continue backing Vietnam to deploy its military medical and engineering forces to suitable U.N. peacekeeping missions as well as to run for high positions at U.N. missions and headquarters. Gen. Nam suggested the U.N. expands cooperation in other fields with priority given to war legacy settlement, and humanitarian assistance and disaster consequence … [Read more...] about Defense leader meets with U.S. and U.N. officials

Jointly organized by the Ministry of War Veterans and the Ministry of Foreign Affairs, and the Committee of Algerians abroad, the event gathered hundreds of delegates from the Algerian government, historical witnesses of the Algerian revolution of various nationalities, and foreign researchers. Vietnam was one of the first countries to recognize the provisional government of Algeria (September 26, 1958), four years before the North African country actually gained independence. Participants discussed topics related to human values, the charters of the Algerian revolution and its role in strengthening relations with countries around the world. On the sidelines of the event, exhibitions are being arranged to introduce historical books and photos on friends of the Algerian revolution. Source: VNA … [Read more...] about Vietnam attends int’l workshop on Algeria’s revolution