Vietnam

According to a document from the government, Vietnam is expecting to sign pacts this week with the United States after its trade minister met U.S. energy and trade officials. This step follows weeks of conciliation messages Vietnam sent to Washington, in an attempt to avoid tariffs that the Trump administration may impose on Southeast Asian nations due its large trade deficit with the United States. The document dated March 5, from the Trade Ministry, contains the itinerary of Nguyen Hung Dien, the Minister of Commerce's visit to the United States in this week. The list also included energy companies, government...

Howard Lutnick, the U.S. Secretary of Commerce, said that on Sunday tariffs against Canada and Mexico would go into effect starting on Tuesday. However President Donald Trump will decide whether or not to keep with the planned 25% rate. Lutnick said on the Fox News show "Sunday Morning Futures" that "that is a fluid scenario." There will be tariffs on Mexico and Canada on Tuesday. We'll leave it up to the president and his team of negotiators to decide what they are. Lutnick’s comments were Trump's first indication that he may not impose all the threatened tariffs of 25% on...

A draft document from the industry ministry showed that Vietnam's power production targets have been lowered for offshore wind and gas in this decade. Coal and other renewables will fill the gaps until nuclear reactors become part of the energy mix, which is expected to happen by 2035. The document was released late Tuesday night and is still subject to change. It aims to replace 2023's power generation plan. The Southeast Asian export hub is trying to meet the increasing electricity demand of domestic manufacturers as well as multinationals in the country. According to the revised plan Vietnam will not...

Vietnam and Russia signed on Tuesday a contract on nuclear energy and numerous cooperation offers throughout a check out to Hanoi by Russian Prime Minister Mikhail Mishustin, highlighting close ties between the 2 nations. Russia's nuclear energy company Rosatom and Vietnam's. state-owned power utility EVN consented to increase cooperation in the. nuclear sector, according to a joint file. Vietnam prepares to restart its nuclear energy programme having. suspended it for years, as it needs to increase power generation to. feed its growing industrial sector, a crucial motorist of its economy. Russia also accepted transfer a maritime research study vessel,. under...

U.S. trade officials on Friday announced a brand-new round of tariffs on solar panel imports from 4 Southeast Asian nations after American manufacturers grumbled that business there are flooding the marketplace with unjustly low-cost products. It is the second of 2 initial decisions that President Joe Biden's Commerce Department is making this year in a trade case brought by Korea's Hanwha Qcells, Arizonabased First Solar Inc and several smaller producers seeking to protect billions of dollars in financial investments in U.S. solar manufacturing. This is the latest chapter in a more than decadelong trade war with Chinese companies over their...

Oil huge Saudi Aramco wants to invest in the oil refinery sector and petroleum distribution in Vietnam, the Southeast Asian nation's. federal government stated in a declaration released late on Tuesday. The statement came after a meeting in between Prime Minister. Pham Minh Chinh and Saudi Aramco's president Amin. Al-Nasser in Riyadh during Chinh's check out to the Middle East. Vietnam has great prospective in the area, therefore,. Aramco wishes to buy oil refinery and gas circulation. in the country, the Vietnamese federal government statement said. Aramco prompted authorities to create beneficial conditions to. boost cooperation with Vietnamese partners, the...

Vietnam will modify its national power development plan, known as PDP8, to include alternatives for atomic energy and hydrogen, the Minister of Industry and Trade said on Monday. The PDP8 will be amended in a way to likewise add more renewables to the mix, consisting of solar and wind, Nguyen Hong Dien informed the National Assembly at a meeting in Hanoi. The PDP8, approved in May in 2015, would raise the country's total installed power generation capability to over 150 GW by 2030 from over 80 GW at the end of in 2015. Nevertheless, overseas wind and LNG development targets...

The U.S. welcomed Vietnam's planning and financial investment minister on Tuesday for talks on improving financial cooperation, and stated ties were stronger than ever, days after Hanoi upset Washington by hosting Russian President Vladimir Putin. The State Department said today's discussion would cover financial security, semiconductors, the financial investment climate, digital economy, the online world, energy, and vital minerals. Last year, Washington upgraded U.S.-Vietnam ties to a detailed. tactical partnership. Russian President Vladimir Putin's visit to Vietnam last. week drew sharp U.S. criticism. Washington subsequently said it. would stay concentrated on deepening ties with Hanoi as the U.S. works to...

South Korea's SK Group plans to hold a twoday method conference beginning Friday to go over enhancing its organization to focus on secret areas consisting of expert system, chips and batteries. The group, best understood for its chip company SK Hynix , has become bloated over the previous years and its electrical car battery unit has actually lost billions of dollars. Here is what's known about the predicted restructuring: WHY AND HOW MAY SK SHOT TO RESTRUCTURE ITS SERVICES? South Korea's second-largest conglomerate included 219 business as of May, the most among the country's 88 business groups, according to the...

Russia's President Vladimir Putin applauded Vietnam for its balanced stance on the Ukraine war and noted development on payments, energy and sell an viewpoint piece published on Wednesday in the newspaper of Vietnam's Communist Celebration. In the piece timed for Putin's state see to Vietnam, he applauded the Southeast Asian Communist-ruled nation for supporting a pragmatic way to resolve the crisis in Ukraine, in comments released in the Nhan Dan newspaper. Vietnam, which formally pursues a neutral foreign policy in its relations with major world powers, has actually abstained from condemning Russia's attack on Ukraine, a position that Western countries...

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...

As major producers around the world prepare for Wednesday's increased tariffs, two major South Korean steelmakers have been evaluating their options to invest in new facilities. They said that the options included investing in operations in the U.S. The U.S. President Donald Trump’s decision to increase protection for American producers of steel and aluminum restores global tariffs that are effective at 25% on all metal imports. It also extends these duties to hundreds downstream products, such as nuts and bolts, bulldozers blades and cans. Canada, the largest foreign supplier of aluminium and steel to the U.S.A., Brazil, Mexico, and South...

His Commerce Secretary said that President Donald Trump would decide on Monday which tariff levels he would impose on Canada and Mexico on early Tuesday morning, amid last-minute talks over border security and efforts aimed at preventing the inflow of opioids such as fentanyl. Trump has promised to impose tariffs of 25% on all imports coming from Canada and Mexico. The Canadian energy sector will be subjected to 10%. CEOs and economists claim that the tariffs, which cover more than $900 Billion in annual imports to the United States from Canada and Mexico, would be a major setback for the...

The trade ministry announced on Friday that Vietnam would levy a temporary antidumping tax of up to 27,83% on certain hot-rolled coils steel products from China. In a statement, the Ministry said that the tariff would be effective on March 7, and it will last for 120 days. Baoshan Iron & Steel, Maanshan Iron & Steel are among the companies affected by these duties Vietnam launched an investigation into anti-dumping in July after complaints by Vietnamese producers. After business hours, the Chinese ministries of foreign affairs and commerce did not respond to faxed comments. Hanoi's decision comes after the U.S....

U.S. President Joe Biden on Sunday met essentially with his equivalents from Japan and the Philippines to advance cooperation amongst the three countries, the White Home stated. The 3 leaders discussed trilateral maritime security and economic cooperation, and China's unsafe and unlawful habits in the South China Sea, it said in a statement. The three leaders agreed on the significance of continued coordination to advance a complimentary and open Indo-Pacific. Biden spoke with Japanese Prime Minister Ishiba Shigeru and Philippine President Ferdinand Marcos Jr. late on Sunday, a week before Biden leaves office and hands power to President-elect Donald Trump...

Siam Cement Group (SCG). , Thailand's largest industrial conglomerate, said on. Monday it has actually suspended business operation at its $5.4 billion. Long Son Petrochemicals complex in Vietnam after just one month. due to the chemicals' low margin. The chemicals industry has been grappling with high. inventory and destocking for the previous couple of quarters, putting. pressure on numerous firms. The resumption will depend upon worldwide vibrant demand, SCG. said in a statement to Reuters. SCG did not provide a clear timeframe for the suspension but. expected the chemicals industry would remained tough well. into the 2025. LSP, which began...

Indian authorities on Tuesday said they had actually apprehended 912 Samsung Electronics workers and union members for organising a street demonstration, as a strike at the South Korean firm's home devices plant in Tamil Nadu state entered its fourth week. More than 1,000 employees have disrupted production and opposed in a makeshift camping tent near the factory near the city of Chennai given that Sept. 9. They have demanded greater earnings and union acknowledgment at the plant, which accounts for a fifth of Samsung's 2022-23 India annual income of $12 billion. Charles Sam Rajadurai, a senior state cops official, stated...

Samsung Electronics workers at a factory in India's Tamil Nadu state are paid almost twice as much as staff members in nearby business, the South Korean group said on Tuesday, as a strike at the plant enters its third week. More than 1,000 employees have disrupted operations and objected in a makeshift tent near Samsung's home appliances factory near the city of Chennai given that Sept. 9. They are demanding higher wages and union acknowledgment at the plant, which contributes approximately a 3rd of Samsung's yearly profits in India of $12 billion. Commenting on wages for the first time, Samsung...

India will impose tariffs of in between 12% and 30% on some steel items imported from China and Vietnam in a quote to protect and boost local market, an Indian finance ministry order showed. Welded stainless-steel pipes and tubes exported by China, the world's largest manufacturer of steel, and Vietnam, will be taxed for the next five years, the order from New Delhi provided on Sept. 10 showed. Ties between the world's 2 most populous nations have been strained given that their armed forces clashed on their contested Himalayan border in 2020, triggering New Delhi to tighten scrutiny of Chinese...

The Bank of England stated on Thursday it would set out its 'near last' guidelines for carrying out the remaining leg of the Basel worldwide bank capital guidelines on September 12. Regulators began rolling out the Basel III guidelines after the 2007-09 worldwide monetary crisis forced taxpayers to bail out undercapitalised loan providers. The bulk of the plan is already in force, with some remaining components still to be carried out into nationwide rulebooks. The BoE has stated the brand-new rules would enter impact on July 1, 2025 for Britain's banks, but speculation on a six-month hold-up is collecting momentum...

India's federal Ministry of Steel has asked the trade ministry to examine less expensive steel imports from China and Vietnam, a federal government source straight familiar with the matter informed Reuters on Wednesday, as New Delhi comes to grips with rising imports. India, the world's second-biggest crude steel producer, turned net steel importer in the through March and the pattern continued with ended up steel imports scaling a. five-year high in April and May, according to provisional. government information. We have said that the trade ministry should investigate. these imports and provide its suggestions to the financing. ministry, which will...

India's federal Ministry of Steel has asked the trade ministry to investigate cheaper steel imports from China and Vietnam, a government source directly knowledgeable about the matter told Reuters on Wednesday, as New Delhi comes to grips with rising imports. India, the world's second-biggest crude steel producer, turned net steel importer in the through March and the pattern continued with completed steel imports scaling a. five-year high in April and May, according to provisional. government information. We have said that the trade ministry should investigate. these imports and use its suggestions to the financing. ministry, which will take the last...

Police in Vietnam have detained a former environment deputy minister and 4 other senior authorities accused of breaking mining guidelines, following a wider examination into wrongdoings at a rare earth business in northern Vietnam. Nguyen Linh Ngoc, who was the deputy minister of Natural Resources and Environment in 2010-2018, was accused of intentional violations of state financial management regulations, triggering serious repercussions, the police-run Ministry of Public Security said in a declaration. Other former senior officials of the ministry's mining department were arrested on the very same charges, the ministry said, without providing further information. Those detained were not offered...