Ethiopia news january 6 2019

A hotel put up on sale

On just one real estate website on February 22 many ads were listed.

A 4-star hotel on Vo Nguyen Giap street, 600 square meters, with 19 stories, 125 rooms and 2 conference rooms is offered at VND440 billion.

Hotels on the major streets of Ha Bong, Tran Bach Dang, Ho Nghinh, Vo Nguyen Giap and Ho Xuan Huong are offered at tens or hundreds of billions of dong.

Hoang Lam, the owner of a hotel on Tran Bach Dang street, said accommodation service providers have been hit hard by Covid-19.

“We have been struggling to survive by cutting costs. However, as capital is getting exhausted, hotel owners have to liquidate assets to pay bank debts,” he said.

“Selling hotels is unavoidable as there is no source of revenue, and the operation cost is high,” he said.

Do Van Hien from Dana Hotel, a broker, said a lot of hotels in Da Nang have been put up for sale since the second Covid-19 outbreak.

“The hotels for sale are 2-4-star. The prices have fallen by 20 percent and buyers are mostly from northern provinces,” Hien said.

According to Hien, 3-star hotels are priced at VND20-100 billion, while 4-star hotels are at least VND280 billion. The value of hotels depends on the locations, area, quality, numbers of rooms and brands.

The transactions of 4-5-star hotels, which have strong brands, are confidential. Hotel owners only work with prestigious brokers, and buyers have to prove their financial capability.

Hien said no one wanted to sell hotels in 2016-2019 because they could make a high profit from the business. But since 2020, guests are coming in dribs and drabs, and operation costs and loan interest rates are high.

Cao Tri Dung, chair of the Da Nang Tourism Association, admitted that tourism services have become nearly frozen and many hotels have been put up on sale.

“The pandemic resurgence before Tet blocked sources of guests. Ninety percent of clients cancelled or postponed plans to come to Da Nang,” he said.

He said this is common in a market economy, and that it is time to restructure the accommodation segment.

According to Da Nang People’s Committee, the total number of guests staying at accommodation facilities in the city in January 2021 was 251,094, a 65.6 percent decrease compared with the same period last year.

Ho Giap

VietBank’s chair of the board of directors Bui Xuan Khu

VietBank has announced that Duong Ngoc Hoa resigned from the post of chair of the board of directors on February 23 and the office has been taken by Bui Xuan Khu, who was Deputy Minister of Industry Trade.

Khu became a member of the bank’s board of directors in 2011 after he retired. Later, he acted as deputy chair of the board of directors until he was appointed president of the bank.

Khu is the next former high-ranking official to become a bank president. Le Thi Bang Tam, former Deputy Minister of Finance, is now president of HDBank and president of Vinamilk.

Tam joined Vinamilk in 2013 as an independent member of the board of directors. She has been president of the nation’s leading dairy producer since 2015 and president of HDBank since 2010. She is also a senior advisor to some foreign financial institutions.

A lot of former government officials became businessmen after their retirement. Tran Xuan Gia, former Minister of Planning and Investment Tran Xuan Gia, became the president of ACB in 2008-2012. Gia, together with a lot of former senior managers of the bank, including Ly Xuan Hai, Le Vu Ky and Trinh Kim Quang, were investigated in a case related to Nguyen Duc Kien, or ‘Mogul Kien’.

Kieu Huu Dung, former director of the Banks and Non-bank Credit Institutions Department, served as president of Sacombank in 2014-2017. He later became president of ACB Securities and president of Sacombank Securities.

The other officials included Pham Viet Muon, who was Vice Chairman of the Government Office, Cao Sy Kiem, former Governor of the State Bank of Vietnam (SBV) and Truong Van Phuoc, former head of SBV’s Foreign Exchange Management Department.

Former Deputy Minister Bui Xuan Khu, who joined VietBank in 2011, also has a lot of business experience as he was general director of the Vietnam Textile and Garment Corporation (Vinatex), the largest garment producer in Vietnam, general director of Viet Tien Garment and deputy president of the Global Petroleum Investment JSC.

In mid-2019, VietBank put VBB shares into transactions on the bourse.

VietBank was established in December 2006 as a rural bank with charter capital of VND200 billion. Its founding shareholders have relations with Hoa Lam Group, ACB and Dieu Hien Company. The bank now has charter capital of VND4.19 trillion after five capital increases.

ACB has divested from VietBank, while Dieu Hien is no longer mentioned in documents and information about the bank. The shareholders from Hoa Lam Group still maintain their stake with Duong Ngoc Hoa as the representative. Duong Nhat Nguyen is now deputy chair of the bank.

V. Ha

The 25 to 145-centimeter-high trees were discovered covering 800 of 4,630 square meters cultivated by Tran Hung, 38, in Chu Se District on Thursday afternoon.

Police also found a nursery where baby cannabis trees were being reared.

Hung said the nursery is owned by his grandmother and that he was assigned to manage it two years ago.

In late 2019, an acquaintance gave him cannabis seeds to grow as cattle feed, he said.

Police, having seized the entire cannabis crop, plan to expand their investigation.

Cannabis is on the list of narcotics forbidden in Vietnam.

Those growing cannabis on a small scale could be fined VND2-5 million ($86.16-215.40). Farmers found cultivating 500 to 3,000 plants could face jail terms of six months to three years, while those operating on a bigger scale could spend up to seven years in jail.

ROLLING HILLS ESTATES, CA – FEBRUARY 23: A sign for the Genesis Invitational golf tournament is seen on the door of the car that golf legend Tiger Woods was driving when seriously injured in a rollover accident on February 23, 2021 in Rolling Hills Estates, California. Rescuers used hydraulic rescue tools to extricate him from the car where he reportedly sustained major leg injuries. Law enforcement reports that there was no evidence of impairment. He was in town to participate in the tournament. (David McNew/Getty Images/AFP)

Woods did not appear to be under the influence of drugs or alcohol during the early-morning incident, and underwent surgery after the roll-over collision, said Los Angeles County Sheriff Alex Villanueva.

No other vehicles or passengers were involved in the crash which occurred on a steep stretch of road known as an accident “hotspot,” where Woods was travelling at “a greater speed than normal,” said the sheriff.

“I will say that it’s very fortunate that Mr. Woods was able to come out of this alive,” said deputy Carlos Gonzalez, the first officer to arrive on scene.

Gonzalez found Woods trapped in his vehicle but conscious, appearing “calm and lucid” and able to identify himself to the deputy as “Tiger.”

“It is my understanding that he had serious injuries to both legs,” said Los Angeles County fire chief Daryl Osby, describing Woods’ condition as “stable.”

Firefighters and paramedics extricated Woods from the wreckage of his SUV and transported him with a neck collar and backboard to a local hospital via road, where he underwent surgery.

There was “no evidence of impairment at this time” including any influence of narcotics, mediciation or alcohol, said Villanueva, adding that the crash remained “subject to investigation.”

He added that no blood was drawn at the scene of the crash because the sheriff’s office does not have that capability.

Woods, one of the most successful golfers of all time, has won 15 major golf championships.

He recently underwent his fifth back surgery, and said he was uncertain if he will be able to play at the upcoming Masters, which he last won in 2019.

Woods, 45, was in the area for his annual Genesis Invitational golf tournament at the Riviera Country Club, and was driving a courtesy car on the morning of the crash.

“We are awaiting further information when he comes out of surgery. On behalf of the PGA Tour and our players, Tiger is in our prayers and will have our full support as he recovers,” said PGA Tour commissioner Jay Monahan said in a statement.

– ‘True champion’ –

The crash occurred near the hilly Palos Verdes peninsula, at the bottom of a steep stretch of road which has runaway truck ramps for vehicles that lose control going downhill.

The section has become notorious for fatal accidents over the years.

“Apparently the first contact was with the center median, and from there (the car) crossed into the opposing lane of traffic, hit the curb, hit a tree, and there was several rollovers during that process,” said Villanueva, who did not provide a cause of the crash.

The car ended up several hundred feet from the inital impact, lying on its side on a patch of grass some distance off the road, with its hood badly damaged.

News of the crash spread rapidly around the sport world and beyond, with figures inside and outside golfing swift to send their prayers and best wishes to Woods.

Skier Lindsey Vonn, Woods’ former girlfriend, tweeted: “Praying for TW right now.”

“Sending my prayers to @TigerWoods and his family tonight — here’s to a speedy recovery for the GOAT of golf,” said former US president Barack Obama.

“If we’ve learned anything over the years, it’s to never count Tiger out.”

Fellow ex-president Donald Trump, speaking to Fox, urged Woods to “get better and get out there because we all miss him.”

– ‘Deeply concerned’ –

Woods was one of the most revered athletes in the world when he became engulfed in scandal in late 2009.

He smashed his car into a tree and a fire hydrant outside his luxury Florida home, sparking a series of scandalous revelations that doomed his marriage and put his game in freefall.

He later divorced from his Swedish wife Elin Nordegren, with whom he has two children, after a cascade of women came forward to say they had affairs with the golfer, making him fodder for tabloids around the world.

Woods underwent four back surgeries between 2014 and 2017.

In May 2017, Woods was arrested near his Florida home for being asleep at the wheel of his car in a traffic lane.

Woods said he had taken prescription drugs and pleaded guilty to reckless driving.

But he made an astonishing comeback to win the Masters in 2019, his first major title since 2008.

He is the winner of 82 US PGA titles, level with Sam Snead for the all-time record.

In 2000-2001, while aged just 25, Woods became the first man to hold the US Open, British Open, the USPGA and the Masters titles at the same time.

Woods remains three major victories shy of the all-time record 18 won by Jack Nicklaus.

“Barbara and I just heard about Tiger’s accident, and like everyone else, we are deeply concerned,” tweeted Nicklaus.

“We want to offer him our heartfelt support and prayers at this difficult time. Please join us in wishing Tiger a successful surgery and all the best for a full recovery.”

AFP