Vietnam

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...

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...

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...

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...