Vietnam

Oil settled greater on Wednesday as continuous tensions in the Middle East lent support to rates, but news that rates of interest cuts might start as late as December capped gains, following the Federal Reserve's statement concluding its twoday conference. Brent unrefined futures settled 68 cents, or 0.83%,. higher at $82.60 a barrel, with U.S. West Texas Intermediate. ( WTI) crude futures up 60 cents, or 0.77%, to $78.50. Prices had reduced more than 2% last week after OPEC and its. allies said they would phase out output cuts starting from. October. Palestinian militant group Hamas has proposed various. changes,...

Lights are off and a/c is down at the headquarters of Vietnam's staterun electrical energy provider EVN as the nation's. leading power utility tries to lead by example to prevent a repeat. of in 2015's debilitating blackouts, a main tells visitors. But numerous services around Vietnam's capital Hanoi. seem ignoring the call to save power, keeping. decorative but otherwise purposeless neon lights on the exterior. of skyscrapers on all night. The difficulties in cutting usage highlight. the challenges facing Vietnam a year after abrupt failures triggered. losses of hundreds of millions of dollars to multinational. producers with investments in the...

2 of the world's largest solar panel manufacturers stated they were suspending some production in Southeast Asia today, after a U.S. tariff reprieve on solar panels from some Southeast Asian countries expired. China's Long Green Energy Innovation said on Friday that it had actually suspended production at a battery plant in Vietnam, while Trinasolar stated on Thursday that centers in Thailand and Vietnam would enter a maintenance shutdown. Longi stated its further choices would follow an examination of market conditions. The company stated the production halt in Vietnam would have restricted influence on its operating performance, provided the nation represented...

Saudi Arabia may reveal a. landmark secondary share offering in oil giant Aramco. later Thursday, pending final approval from Crown Prince. Mohammed bin Salman, people with knowledge of the matter stated. The landmark sale follows Aramco's record IPO nearly five. years earlier, as the kingdom pushes ahead plans to diversify its. economy away from oil. Below are essential realities about Aramco: HISTORY Explorers from the Rockefeller family's Requirement Oil Company. struck oil in Saudi Arabia in 1938. The endeavor ended up being called. the Arabia American Oil Business and petroleum production hit. 500,000 barrels daily in 1949. By 1980, the...

Vietnam forfeited at least $ 2.5 billion in foreign aid over the last 3 years and might lose another $1 billion due to the fact that of administrative paralysis, the United Nations, the World Bank and Western donors informed the government in a letter seen . The formerly unreported figures from the unpublished file, dated March 6, highlight frustration amongst foreign investors over regulatory difficulties and prolonged approval treatments that have actually caused extended deadlock as the Communist-ruled country is grasped by an escalating anti-corruption project and political turbulence. Roughly $1 billion in development funding is awaiting approval, with an...

Greater electricity need in Laos due to cryptocurrency mining and erratic rains have actually led to power lacks, an advisor to its staterun energy stated, exposing obstacles to the nation's potential customers as a hydropower exporter to Southeast Asia. Laos is dubbed the battery of southeast Asia for its hydropower export capacity, and its supply of the most affordable and most steady source of tidy power is crucial to decarbonise the region that is struggling to scale up solar and wind. A policy push to establish information centres in 2021 resulted in a. boom in cryptocurrency mining, which now comprises...

As the United States magnifies efforts to reduce trade with China by treking tariffs, it has actually significantly enhanced imports from Vietnam, which depends on Chinese input for much of its exports, data show. The rise in the China-Vietnam-U.S. trade has greatly widened trade imbalances, with the Southeast Asian nation in 2015 publishing a surplus with Washington close to $105 billion - 2.5 times bigger than in 2018 when the Trump administration first put heavy tariffs on Chinese products. Vietnam now has the fourth-highest trade surplus with the United States, lower just than China, Mexico and the European Union. The...

Affiliates of Vietnam's state oil company PetroVietnam have actually made two new oil findings with combined initial reserves of 100.5 million barrels of crude oil, its exploration and production arm PVEP stated on Tuesday. The discoveries are vital for the oil market of Vietnam, which has actually been having a hard time to raise its petroleum output due to shrinking proven reserves, amidst increasing fuel demand. Drilling at the R79 well in the Rong Field in the Block 09-1 off southeast Vietnam found preliminary reserves of 16.5 million barrels of petroleum, PVEP said in a statement. The field is operated...

Philippine petroleum business PXP Energy Corp will take part in a federal government auction of energy reserves in the nation's western and southern waters that are not declared by China, its chairman said on Monday. PXP Energy holds the rights to check out Reed Bank in the South China Sea, thought to be a resource-rich location which China claims as its own. Territorial disputes and legal differences have actually stalled PXP Energy's explorations for years. PXP Energy Chairman Manuel Pangilinan stated the business plans to instead to take part in an energy ministry auction revealed in February covering eight projects....

Singapore's middle extracts stockpiles reversed previously draws and surged by more than 14% week on week to almost a threeyear high as net exports dipped, official federal government data revealed on Thursday. Stocks of diesel/gasoil and jet fuel/kerosene at crucial oil storage center Singapore rose to 11.574 million barrels from 10.136 million barrels in the previous week, figures from Business Singapore revealed. Diesel/gasoil net exports dipped by more than 67% week on week, while jet fuel/kerosene net exports fell by slightly more than 36% week on week. On the diesel/gasoil front, total exports dipped at a much faster speed than...

VNG, an east German gas subsidiary of power energy EnBW, stated on Tuesday it aims to invest approximately 5 billion euros ($ 5.31 billion) by 2035, mostly in green gases. VNG used to be one of Germany's biggest importers of Russian natural gas however lost its pipeline products in 2022's energy crisis when Russia shut off gas export taps to the West. The company has turned itself around and on Tuesday reported adjusted incomes before interest and taxes (EBIT) for 2023 of 447 million euros following a loss of 205 million in 2022, and an operating profit of 380 million...

Analysts warn that Vietnam's large surplus in trade with the United States could reignite tensions if Donald Trump were to win a second term as president. This is because exports of solar cells and other sensitive electrical products are booming. The Super Tuesday results confirmed that the November U.S. election will pit incumbent Joe Biden up against Donald Trump, who was more lenient towards trade imbalances in his first term as president than Biden. Data from the United States show that the Southeast Asian manufacturing hub had a trade surplus of $104 billion with Washington last year. This was only...

Vietnam is anticipated to allow companies to import gold for the very first time in over a. years, as it aims to bridge the expanding gap in between regional. prices and global benchmarks, a market authorities informed. . The Vietnam Gold Traders Association (VGTA) has been in. drawn-out talks with the federal government over procedures to remedy. the imbalance in supply and need of gold, Huynh Trung Khanh,. the association's vice chair stated. Vietnam's federal government virtually took full control of imports. and local bullion sales in 2012, with specific big companies. enabled to import offered they repurposed it as...

The following bids, mergers, acquisitions and disposals were reported by 1945 GMT on: ** Envestnet, a U.S. software application supplier with a market worth of about $3.5 billion, is exploring alternatives that could consist of a potential sale after getting takeover interest, individuals familiar with the matter said. ** Lufthansa's brand-new solutions on its ITA Airways stake buy are not markedly different from an earlier plan rejected by EU antitrust regulators which have actually likewise marked down Ryanair as a. competitor in its scrutiny of the deal, people familiar with the. matter said. ** Canadian miner McEwen Mining entered into...

Vietnam's parliament has asked the government to investigate gold trading firms for possible market manipulation amid skyrocketing domestic costs, state media reported on Tuesday. The rate for gold bars in the Southeast Asian nation has increased around 15% this year, and struck a record high 85 million dong ($ 3,401.36) per tael on Friday. A tael is equivalent to 37.5 grams or 1.21 troy ounces, and domestic rates for a tael are approximately $1,000 more than existing international costs. The National Assembly Standing Committee requested the Government to direct appropriate companies to concentrate on checking and taking a look at...

Vietnam's top miner Vinacomin strategies to invest 182 trillion dong ($ 7.3 billion) to increase its aluminaaluminium production to meet the country's rising need for the metal, the government stated on Tuesday. The financial investment by the state-run company will go to 2 bauxite exploration tasks and 5 refining tasks in the Central Highlands province of Dak Nong, the government said in a. declaration. It did not provide an amount of time for conclusion. The Southeast Asian nation, a local manufacturing hub,. began its alumina production more than a decade back, but there. have been concerns about contamination and high...

By Tuesday, 2000 GMT, the following mergers, acquisitions, and dispositions had been reported: * MP Materials announced that Australian billionaire Gina Rinehart’s mining company has acquired a 5,3% stake in its company, adding to the rare earth investments she already holds. People with direct knowledge said that British Airways' owner IAG will receive an EU antitrust alert about its bid to take full control of Air Europa, after the remedies it has taken failed to satisfy EU antitrust concerns. The two companies have announced that the promoters of IndusInd Bank, a private lender, will purchase a 60% stake of the...