Danang aims to attract Russian touristsThe central coastal city of Danang is striving to lure more Russian and European tourists in a bid to diversify international visitors, but it is facing some difficulties with weather conditions and air routes, which should be addressed to meet the target.The leader of the Danang government, who is on a visit to Europe, is working with Russian travel firm ANEX Tour in Moscow City to discuss a plan on tourism promotion. The tour is scheduled to conclude on August 21.Tourism experts noted that it is necessary to increase the number of Russian and European visitors to Danang City to diversify tourist sources, adding that certain factors, such as weather, may affect these efforts.Russian tourists tend to travel to Danang City between October and February to avoid freezing weather in their country, but unfortunately, this is also the storm season in the city.According to Nguyen Duc Quynh, deputy general director of Furama Resort Danang, many tour … [Read more...] about BUSINESS NEWS IN BRIEF 18/8
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BUSINESS NEWS IN BRIEF 17/8
Masan takes full ownership of tungsten processing facility Masan Resources Corporation (UPCoM: MSR), one of the world’s largest integrated industrial tungsten mineral and chemical producers, announced that Nui Phao Mining Company Ltd. (NPMC), a wholly-owned subsidiary of the company, has acquired H.C.Starck GmBH’s (HCS) 49 per cent stake in Nui Phao-H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for the total cash consideration of $29.1 million, and now owns 100 per cent of this company. NHTCM, previously a joint venture between NPMC and HCS, was established in 2013 and is a leading producer and global supplier of tungsten chemicals (ammonium paratungstate [APT], blue tungsten oxide [BTO], and yellow tungsten oxide [YTO]). NHTCM processes tungsten concentrate (TC), the main product of NPMC, into higher value-added tungsten products. In consideration of NHTCM’s contribution to the development of Vietnam’s high-tech industries, the Vietnamese Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 17/8
BUSINESS NEWS IN BRIEF 15/8
Over VND96 trillion of G-bonds mobilised The State Treasury of Viet Nam has raised a total of VND96.251 trillion (US$4.13 billion) via auctions of Government bonds at the Ha Noi Stock Exchange (HNX) since the beginning of the year. At an auction this week, the State Treasury mobilised VND3.95 trillion from five-year and seven-year bonds worth VND500 billion each and 10-year bonds and 15-year bonds worth VND2 trillion each. The interest rate of bonds increased slightly. Bonds with 10-year maturity raised VND1.55 trillion with an annual interest rate of 4.53 per cent, up 0.03 percentage points from the previous auction on August 1. A sub-session auction of 10-year bonds drew VND600 billion with the yearly interest rate of 4.53 percent. Those with a 15-year term attracted VND1.2 trillion with an annual interest rate of 4.81 per cent, up 0.03 percentage points in comparison with the rate of the previous auction on July 25, 2018. As much as VND600 million was mobilised … [Read more...] about BUSINESS NEWS IN BRIEF 15/8
BUSINESS NEWS IN BRIEF 3/8
JLL reports on real estate M&A in first half Vietnam’s real estate market continued to exhibit irresistible appeal among foreign investors in the first half of 2018 and continued to witness high-value merger and acquisition (M&A) transactions in a variety of sectors such as residential, commercial, and industrial, according to Ms. Khanh Nguyen, Associate Director, Capital Markets, Vietnam, at JLL. Joint ventures have become popular among foreign developers who have strong financial capacity and track record, with them joining forces with local developers who own land and have strong connections with the local community. Foreign investors are from many different countries, such as Japan, South Korea, and Singapore, and with an increasing number of groups from Mainland China. JLL observes that there is an increasing number of local investors who are actively seeking real estate deals alongside foreign investors. 2018 started off with the acquisition of Sun Wah office tower … [Read more...] about BUSINESS NEWS IN BRIEF 3/8
Google redesigns mobile search app with personalized ‘feed’
Google on Wednesday announced an overhaul of its search app on mobile phones to include a personalized feed of links about hobbies, travel, sports and other topics, a move that puts the search company into more direct competition with social networks such as Facebook. FILE PHOTO: A man holds his smartphone which displays the Google home page, in this picture illustration taken in Bordeaux, Southwestern France, August 22, 2016. Google, the world's largest search engine and a unit of Alphabet Inc, said the changes would begin rolling out in the United States on Wednesday and other countries in the coming weeks. The new offering is called "Google Feed," a name that may conjure comparisons to Facebook's "News Feed," a feature on Facebook used to browse updates from friends, family and other sources. Google said, however, that it was not trying to … [Read more...] about Google redesigns mobile search app with personalized ‘feed’