Disney set to seal $60bn 21st Century Fox takeoverWalt Disney is close to confirming a deal to buy 21st Century Fox's entertainment assets for about $60bn, reports say. The sale would include the 20th Century Fox film studio and the Sky and Star satellite broadcasters in the UK, Europe and Asia. It is not clear whether Disney will continue with the takeover if it buys the 39% stake from 21st Century Fox as part of the wider transaction. As well as its film studio, Disney also owns the ESPN sports network and cable channels. Shares in Disney rose 0.5% in New York on Tuesday, valuing the company at $162bn, while 21st Century Fox added 1%, valuing it at $62.6bn.
December 13, 2017 07:52 UTC
ADB: Growth at 6.7% in 2017 & 2018Vietnam’s growth prospects have been revised upwards to 6.7 per cent in both 2017 and 2018 compared to previous forecasts of 6.3 per cent and 6.5 per cent, respectively, in a supplement to the Asia Development Bank’s Asian Development Outlook Update 2017 report, released on December 13. “Fourth-quarter manufacturing growth, traditionally the sector’s strongest, is likely to exceed growth over the first three quarters,” the report stated. Services growth also rose to 7.3 per cent from 6.7 per cent in the corresponding period in 2016, driven by buoyant tourism and strong banking activity. The ADB forecasts that economic expansion in developing Asia will accelerate to 6 per cent in 2017 as stronger than expected exports and domestic consumption fuel growth. Robust domestic demand - particularly private consumption and investment - will continue to support growth in the sub-region, according to the report.
December 13, 2017 06:56 UTC
First centralised drugs bid saves $21 millionVietNamNet Bridge – The Government will spend VND2.269 trillion (US$100 million) over the next two years on buying five active substances and 22 types of drugs for public hospitals and healthcare centres. Health Ministry officials said the bidding helped save over VND477 billion ($21 million) for the State Budget. Under the earlier decentralised procurement process, the ministry estimates the pharmaceutical products would have cost about VND2.746 trillion ($121 million). The centralised bidding process would have the added advantage of making it easier to manage the supply, cost and quality of drugs, Tuan said. Bids for drugs outside the list of centralised bidding will be conducted at all three levels – central, provincial and lower-level State-run facilities –under the management of the new centre.
December 13, 2017 06:22 UTC
NA to study supervisory reports on local legislaturesVietNamNet Bridge – The National Assembly Standing Committee will examine reports on the functioning of local legislatures and discuss several key issues including the establishment of a new town, housing support for contributors to the revolution and compensation for people displaced by major road projects. NA Chairwoman Nguyen Thi Kim Ngan speaks at the National Assembly Standing Committee’s 19th session in Hanoi on Tuesday. Ngan said legislators will study a report on results of supervision of resolutions and operations of centrally-run municipal and provincial people’s councils. Chairman of the NA Law Committee, Nguyen Khac Dinh, said that communication with voters in some localities has been improved by using different information channels including live broadcasts. The NA Standing Committee will also discuss the operation and organisational structure of People’s Councils at provincial level for ensuring high efficiency in the performance of their duties.
HCM City food safety levels lowVietNamNet Bridge – People should buy food from supermarkets, malls or reputed shops to ensure food safety and hygiene, experts claim. Experts admit food safety is low in the city and say people should buy food only from supermarkets or reputable shops. -- 24h.com.vn“Animal slaughter, transport and distribution [outside these sources] are not safe or hygienic,” Pham Khanh Phong Lan, head of the HCM City Food Safety Commission, admitted at a conference yesterday on food safety. “The situation requires more efforts by relevant authorities and response from the community.”HCM City Food Safety Commission was launched early this year to ensure health and quality of living for people in the city. Lan said the food safety commission was in charge of administrative reform to reduce red tape for enterprises.
Nearly 1 in 6 TB patients undetected: expertVietNamNet Bridge – About 126,000 people have tuberculosis (TB) in Vietnam, but fewer than 106,000 have received treatment, while the others are undetected and sometimes unaware of their status, said Director of the Hanoi-based Central Pulmonology Hospital Nguyen Viet Nhung. “Forty per cent of the undetected TB patients will die because they haven’t treatment,” Nhung said. It is necessary to improve grassroots healthcare to detect and treat TB patients early," Nhung said. Beginning in 2019, the health insurance fund will also cover medicines for TB patients. Nhung said that the Central Pulmonology Hospital was planning to develop a fund to support TB treatment next year.
China to become second largest importer of Vietnam shrimpVietnam’s shrimp exports are estimated at US$3.5 billion in the 11 months leading up to December with the EU, Japan and China as the three biggest importers. The trend also pushes shrimp raw material prices up in some neighbouring countries, including Vietnam. Experts said China’s shrimp imports have kept rising while its exports have declined over the past 10 years. It has become an important destination for shrimp exporters, including Vietnam thanks to increasing consumer demand and attractive payment terms. Since December 1, China has cut down the import duties on frozen shrimp from 5% to 2%, which benefited shrimp exporters, including Vietnam.
What will foreign investors do with strong Vietnamese brands? VietNamNet Bridge - Analysts have warned that strong brands may disappear once foreign investors buy into Vietnamese companies. Sabeco has a firm foundation, strong brand and large retail network.“Sabeco has 24 breweries and relations with 1,200 distributors. Foreign investors are wise enough to take full advantage of the factories and the distribution network built by Vietnamese to bring their products to the Vietnamese market,” an analyst commented.He recalled that Unilever took over P/S (a Vietnamese toothpaste brand) and brought its Close-Up toothpaste into the Vietnamese market through the network it acquired. Therefore, the two parties still cannot find a common voice.As for Sabeco, the share price continued to rise after MOIT’s announcement.
December 13, 2017 05:26 UTC
Vietnamese photographers win international awardsTwo Vietnamese photographers, Than Nguyen from the central city of Da Nang and Do Thanh Nhan from southern province of Tay Ninh, have picked up awards at the 13th Orhan Holding International Photography Contest. Dependency No 4 by Than Nguyen (Photo Courtesy of Orhan Holding International Photography Contest)The contest was sponsored by FIAP (Fédération Internationale de l’Art Photographique, the International Federation of Photographic Art) and Photographic Arts Federation of Turkey (TFSF), and was held in the city of Bursa, in Turkey. At the ceremony, a representative of the Vietnamese Embassy in Turkey received campaign medals on behalf of the two photographers due to their absence. This year’s contest attracted over 700 photographers from 70 countries around the world with 6,000 photos in various categories. Orhan Holding International Photography Contest is a prestigious international photography competition in Turkey, organised for the 13th time this year as part of the country’s cultural and artistic promotion activities.-VNA
December 13, 2017 04:30 UTC
Exhibition showcases old documents on French cultureAn exhibition of archival materials capturing the influence of French culture on the capital city is now open at No 18 Vu Pham Ham Street, Hanoi. It introduces 150 documents, photos and artifacts that showcase French colonial influence on Hanoi’s architecture, education and culture. Decades after the colonial period, the structures are the proud heritage of the capital city. According to Deputy Minister of Home Affairs Trieu Van Cuong, the State Records Management and Archives Department of Vietnam and the French Archives have jointly implemented many meaningful activities to promote the precious archives capturing the French colonial era in Vietnam. The deputy minister also stressed that the exhibition is one activity within the ever-developing relationship between two countries’ archives departments.
December 13, 2017 04:07 UTC
Southern folk music festival heldPeople have gathered in the central province of Bac Lieu to attend the 9th Southern Folk Music and Songs Festival of the Provinces of Soc Trang, Bac Lieu and Ca Mau. To southern people, folk melodies have been rooted deep inside their souls (Photo VOV)In his opening speech at the festival on December 11, Tran Minh Ly, Director of Soc Trang province’s Culture, Sports and Tourism Department, said from the cradle of don ca tai tu (southern folk music and songs) in Bac Lieu province, the art has developed throughout the southern region. The first category gathers artistes from the three provinces, while the second one gathers only artistes from Soc Trang. Considered as one of the country’s main music genres, don ca tai tu originated from Hue court music and folk music of the southern region. Instrumentalists and singers express their feelings by improvising based on 20 principal songs and 72 classical songs.
December 13, 2017 04:07 UTC
Vietnam draws with Myanmar in U21 International eventVietnam’s U19 team drew 1-1 with Myanmar in the first match of the Thanh Nien (Young People) newspaper’s International U21 Football Tournament in Can Tho on December 12. Truong Tien Anh of Vietam's U19 team vies for a ball against Min Moe Kyaw of Myanmar during their match in Can Tho. (Photo: Vietnamnet.vn)The Vietnamese side played a counter-attacking style and created a number of chances in the first half, but none were converted into goals. Myanmar however managed to secure the opener just four minutes after the interval. In a later match, Vietnam’s U21 team lost 0-1 to Thailand.
December 13, 2017 03:56 UTC
HCM City calls for more investments of US technological groupsNguyen Thien Nhan, Secretary of the Ho Chi Minh City Party’s Committee, has called on US technological groups and companies to expand their investment and cooperation in the city. Secretary of the Ho Chi Minh City Party’s Committee Nguyen Thien Nhan meets US business representativeHe had working sessions with representatives of leading US technological groups and companies like Intel, Allied Telesis, Zoom and Marvell, which are investing in HCM City, on December 11 as part of his visit to the US. At a working session with Allied Telesis Group based in Silicon Valley in San Francisco, the two sides discussed technological solutions to urban management and high-tech infrastructure service development. The HCM City leaders expressed their hope that the investors will consider training and employing young, talented and skilled labourers in the locality through specific activities. They pledged to create the best possible conditions for the US enterprises, especially in land use tax and human resources.
December 13, 2017 03:45 UTC
More than a bowl of noodles, pho is historyVietNamNet Bridge – There are many theories regarding its origin. What is certain is that pho, a simple yet deceptively complex dish of noodles served with beef or chicken in a hot bowl of broth, has become Vietnam’s pride on the world map of cuisine. As if dictated by some rule, most stores are named after their founders in a single word, such as Pho Hien, Pho Thin or Pho Co.Aromatic: Cinnamon, star anise and onion are among the various herbs and spices used in the making of pho broth. If you’re ever looking for an excellent bowl of pho, look for a place where people finish the broth when they’re done with the noodles and beef. Nothing beats the chilling wind of winter better than a hot, street-side bowl of pho bought for $2.
December 13, 2017 03:11 UTC
Vietnam imported about 4,000 sugarcane varieties within three years, which is contrary to global trends. As for rice varieties, a report of the Plantation Agency found that farmers in Mekong Delta sow 160-200 different rice varieties each crop. This is what makes Vietnam rice quality lower than other countries. As a result, Vietnam rice has a low selling price which is sold mostly to China, ASEAN and African countries. And according to the Vietnam Seed Trade Association, the amount of cross-bred rice imported to Vietnam every year is 13,000-15,000 tons worth over $40 million.
December 13, 2017 00:45 UTC