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US stocks rally again as China premier warns on Covid-hit economy, illustration photo source: freepik.com After a positive session in Europe, the S&P 500 finished Thursday's session up two percent, positioning the broad-based US index to potentially snap a seven-week losing streak depending on Friday's session. "The market was very oversold, and way overdue to bounce," Adam Sarhan of 50 Park Investment said shortly before the market closed. "And what's happening now, the market is bouncing pretty strong." Stock markets have taken a beating this year as central banks have begun to raise interest rates in order to curb the highest consumer price rises in decades. But US stocks pushed higher on Wednesday after investors took a positive view of the Federal Reserve minutes, which raised hopes that while the central bank would move aggressively to lift interest rates, it might be able to halt additional rate hikes as soon as this summer if inflation recedes. Wall Street kept … [Read more...] about US stocks rally again as China premier warns on Covid-hit economy

Qatar Airways, Airbus want billion dollar paintwork battle settled out of court, illustration photo source: freepik.com The airline and leading plane maker have been fighting in the British courts for months over peeling paint on 23 A350 jets which have been grounded. A London high court judge agreed Thursday to the airline's demand for a speeded up trial schedule but refused to order Airbus to stop trying to resell jets intended for Qatar Airways to other airlines whilst they wait for a final ruling. Qatar Airways chief executive Akbar Al Baker, in a rare public comment on the case, told reporters in Doha: "Every partnership has disputes and I just hope that this dispute could be resolved outside the courts of law." The airline, which is demanding about $1 billion in damages, said in a statement that it was "pleased" that the latest judgement called for an "expedited trial" and more details on the peeling paintwork that it has said is a threat to the A350's lightning … [Read more...] about Qatar Airways, Airbus want billion dollar paintwork battle settled out of court

The National Assembly will debate three draft laws on May 27. (Photo: VNA) Hanoi (VNA) – The National Assembly will debate three draft laws on May 27, in accordance with the working programme of the legislature’s third session . In the morning, Minister of Home Affairs Pham Thi Thanh Tra will present the draft law on implementing democracy at grassroots level. An evaluation of the draft law will be presented by Chairman of the NA’s Legal Committee Hoang Thanh Tung. The draft law on implementing democracy at grassroots level, with 7 chapters and 74 articles, is intended to ensure that the State power belongs to the people, further affirm the nature of the Vietnamese State as a law-governed socialist state of the people, by the people and for the people. A report on adjustments made to the draft law on emulation and rewards (revised) will also be submitted to the NA, and contentious issues related to the bill will be tabled for discussion. In the afternoon, the … [Read more...] about National Assembly to look into three draft laws on May 27

Hanoi, (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. – Senior Party officials of Vietnam and Cuba have agreed that amid the COVID-19 pandemic, regular meetings and exchanges between the two Parties and countries vividly demonstrate their special friendship. Vo Van Thuong, Politburo member and permanent member of the Secretariat of the Communist Party of Vietnam (CPV) Central Committee held online talks with Roberto Morales Ojeda, Politburo member and permanent member of the Secretariat of the Communist Party of Cuba (PCC) Central Committee on May 26. Read full story - Asia needs to play a greater role in maintaining and fostering a peaceful and stable environment conducive to development and prosperity in the region and beyond, on the shared basis of cooperation, understanding, trust and responsibility, Standing Deputy Prime Minister Pham Binh Minh has said. Minh made the suggestion while delivering his remarks at the 27th … [Read more...] about ☀ Morning digest on May 27

The State Bank of Vietnam sets the daily reference exchange rate for the US dollar at 23,109 VND/USD on May 27, up 4 VND from the previous day. (Photo: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,109 VND/USD on May 27, up 4 VND from the previous day. With the current trading band of /-3 percent, the ceiling rate applicable to commercial banks during the day is 23,802 VND/USD and the floor rate 22,415 VND/USD. The opening-hour rates at commercial banks stayed stable. At 8:30 am, Vietcombank listed the buying rate at 23,030 VND/USD, and the selling rate at 23,340 VND/USD, unchanged from the rates at the end of May 26. BIDV also kept both rates unchanged at 23,070 VND/USD (buying) and 23,350 VND/USD (selling). During the week from May 23-27, the daily reference exchange rate were adjusted down on the first two days but then turned around to follow an upward trend. It ended the week up 8 VND from the … [Read more...] about Reference exchange rate up 4 VND on May 27

The Economic Committee of the National Assembly has proposed that Vietnam restart a suspended nuclear power project in south-central Ninh Thuan Province to ensure the country’s ability to develop nuclear power in the future and to help achieve its environmental protection goal by 2050. The Economic Committee has submitted a report on the implementation of Resolution 31 of the National Assembly, which was issued to suspend the Ninh Thuan nuclear power project in the namesake province in 2016. In the report, the committee stated that Vietnam would potentially face challenges brought about by electricity shortage in the 2021-25 period. The competitive electricity market has not been developed in a synchronous manner, while the power pricing mechanism has been improved slowly. The country’s power source has yet to guarantee sustainable development and still has a negative impact on the environment. Vietnam previously pledged to reach its net-zero carbon emissions target by 2050 … [Read more...] about Vietnamese legislature’s economic committee proposes restarting nuclear power project