Squeezed by debt crisis, Greeks ditch cars for bikes


Greece's dire economic plight has forced thousands of businesses to close, thrown one in five out of work and eroded the living standards of millions. But for bicycle-maker Giorgos Vogiatzis, it's not all bad news. The crisis has put cash-strapped Greeks on their bikes - once snubbed as a sign of poverty or just plain risky - and Greek manufacturers are shifting into fast gear. … [Read more...]

Sponsored links

Man United NY float could free up cash for players


Manchester United plans to cut its debt with a New York flotation that should free up cash for top players after a barren season in which it was replaced at the top of English football by rich rivals Manchester City. Benfica's players warm up during a training session at Manchester United's Old Trafford stadium in Manchester, northern England, November 21, 2011.Photo: REUTERS The American Glazer family, owner of the NFL team Tampa Bay Buccaneers, will keep its grip on the 19-times English … [Read more...]

Investors to move with times


In November Vietnam's stock market witnessed low liquidity with stock prices plunging to lows not seen in several years and some stocks were not worth a cup of tea. Investors can take comfort in the fact that the only way is up for markets The market's mood seems to have darkened with news some commercial banks failed to pay back interbank market loans despite some positive signs the economy may be turning the corner. Inflation cools but risks remain for 2012 November's consumer price … [Read more...]

Bottom feeders flag bourses to turn corner


Vietnamese equities plunged to new lows in several months with increasing bottom-fishing efforts, indicating that the market bottom is around the corner. Many investors think the only way is up for the market Ho Chi Minh Stock Exchange's VN-Index ended last week at 426.51 points, the lowest level since late July, 2009. For the whole last week, VN-Index lost 15 points or 3.5 per cent against the previous week. Hanoi Stock Exchange's plunged to below 100 points, closing at 99.10 points on … [Read more...]

French auto sales struggle, production dives

Workers of the PSA Peugeot Citroen carmaker plant of Aulnay-sous-Bois, a Paris suburb. (AFP/Lionel Bonaventure)

Sales of new cars in France rallied slightly in July when French brands did well with new models, but in the first six months of the year output by French carmakers plunged by 20.8 per cent, trade data showed on Thursday. PARIS: Sales of new cars in France rallied slightly in July when French brands did well with new models, but in the first six months of the year output by French carmakers plunged by 20.8 per cent, trade data showed on Thursday. Overall sales rose by 0.9 per cent to … [Read more...]

Fiat first quarter profit soars


Italian auto giant Fiat said Thursday its net profit in the first quarter soared ten-fold to 379 million euros ($500 million) thanks to its US partner Chrysler, without which it would be in the red. The group had banked 37 million euros in profit in the first quarter last year -- before snapping up a majority stake in the US automaker in a move which has more than offset poor Fiat results in a sluggish European market. Chrysler, which fell under Fiat's operational command in June 2009 when … [Read more...]

As profits surge, Europe’s carmakers rev up global ambitions


Two years after a world economic downturn all but wiped them out, European carmakers have bounced back to the spotlight with Volkswagen aiming to be the industry leader and Fiat carving out a global brand for itself. Unfettered of their obligations to repay state aid and riding out the expiry of government "cash-for-clunkers" schemes that initially plunged their revenue, carmakers this week gave rosy outlooks for the rest of fiscal 2011. Germany's Volkswagen reported a three-fold profit leap … [Read more...]

US consumer confidence takes recession beating

Shoppers on Fifth Avenue in New York City. US consumer confidence tanked in October amid growing worries about jobs in the recession-wracked economy, boding ill for the key holiday shopping season, the Conference Board said Tuesday. (AFP Photo)

US consumer confidence slumped in October amid worries about jobs in the recession-wracked economy, boding ill for the important holiday shopping season, the Conference Board said Tuesday. The private research firm said its consumer confidence index declined for the second month in a row, to 47.7 in October from a revised 53.4 in September. The September reading initially was reported at 53.1. The decline in the October index was much steeper than expected by Wall Street, with most … [Read more...]

Vietnamese should be prouder of goods produced domestically

Your Say (11-09-2009) Vietnamese should be prouder of goods produced domestically Last week, Viet Nam News asked readers how to promote made-in-Viet Nam products. Here are some of the opinions we received: Pham Thanh Truyen, Vietnamese, HCM City Vietnamese enterprises need to do more. Unlike other countries in Asia, Vietnamese people prefer foreign products. Ten or 15 years ago, few doubted that foreign products were superior to local ones. Unfortunately, that mindset hasn't … [Read more...]

VN overseas investments total $1b in nine months

HA NOI (VNS)- In the first nine months of 2014, 83 Vietnamese projects were granted licences to invest overseas with a total registered capital of more than US$1 billion. According to the Planning and Investment Ministry's Foreign Investment Agency, the investments were poured into 23 countries and territories. Among them, Tanzania was the leading investment destination for Vietnamese investors in term of registered capital, with a telecommunications network project by Viettel worth $355.2 … [Read more...]

Iran nuclear talks to go into high gear


Global powers wrestling to hammer out a ground-breaking deal with Iran to curb its nuclear ambitions are moving complex talks into high gear with a "critical" three weeks left for an accord. … [Read more...]

Europe won’t recognize vote in eastern Ukraine, Merkel tells Putin


German Chancellor Angela Merkel told Russian President Vladimir Putin on the phone that Sunday's planned elections in eastern Ukraine were illegitimate and would not be recognised by European leaders, a Berlin government spokesman said on Friday. Merkel and Putin held a joint telephone conversation with French President Francois Hollande and Ukrainian President Petro Poroshenko, Merkel's spokesman Georg Streiter said at a government news conference. … [Read more...]

Army chief takes power after Burkina president bows to protests


People load goods looted from a building, which according to locals, belongs to Francois Compaore, the younger brother of Burkina Faso's President Blaise Compaore, in Ouagadougou, capital of Burkina Faso, October 30, 2014. The head of Burkina Faso's armed forces took power on Friday after President Blaise Compaore resigned amid mass demonstrations against an attempt to extend his 27-year rule in the West African country. Compaore, who seized power in a 1987 coup, had attempted to defy popular … [Read more...]

China ‘vulnerable’ to Ebola outbreak, says expert


China is "vulnerable" to the deadly Ebola outbreak due to the soaring number of Chinese working in Africa and poor infection control at home, a co-discoverer of the virus warned Thursday. Women work on the CT1SL428, a protective suit for use in handling people infected with Ebola, in a sewing room of Lakeland Industries Inc in Anqiu, 500km south of Bejing on October 23, 2014. Belgian microbiologist Peter Piot also said experience with other viral outbreaks showed that airport screening was … [Read more...]

Franchise expo attracts 170 firms

A visitor (R) seeks information from a display booth at VIETRF 2014 - PHOTO: HUNG LE

Le Hoang This year's VIETRF attracts the largest number of businesses with South Korean firms outnumbering those from Thailand, Singapore, Malaysia, Japan, Australia, Italy, the United States and Vietnam. … [Read more...]

Taekwondo VN win first gold at world taekwondo event

Vietnamese martial arts athletes Tong Nguyen Bao and Lien Thi Tuyet Mai perform in the U30 pair division at the ninth WTF World Taekwondo Poomsae Championships in Aguascalientes, Mexico, yesterday. - Photo tinthethao.com.vn

HA NOI (VNS) - Chau Tuyet Van, Nguyen Thi Le Kim and Nguyen Thuy Xuan Linh won the U30 women's team gold at the ninth WTF World Taekwondo Poomsae Championships in Aguascalientes, Mexico, yesterday. … [Read more...]

Investor group led by Vietnamese American capitalist unveils new MLS soccer club


A 22-person group led by Vietnamese-American venture capitalist Henry Nguyen unveiled Thursday their franchise ownership of a new football (soccer) team to compete in the Major League Soccer (MLS) starting in 2017. The awarding of a new team to the ownership group marked the beginning of "a new era for Major League Soccer," MLS Commissioner Don Garber announced the same day. "We are thrilled to welcome Henry Nguyen, Peter Guber, Tom Penn and their owner partners to Major League Soccer," … [Read more...]

Australia set to pay polluters to cut emissions

SYDNEY(VNS) - Australia is set to approve measures giving polluters financial incentives to reduce emissions blamed for climate change. The so-called "direct action" plan, which will see the government pay companies to increase energy efficiency, passed through the upper house Senate early on Friday with the backing of the Palmer United Party following a marathon debate. The bill is expected to be approved next month by the lower House of Representatives where the conservative government of … [Read more...]

EU, Russia, Ukraine seal breakthrough gas accord


In a hard-fought accord the EU hopes will ease the broader crisis over Ukraine, Russia agreed to ensure supplies until the end of March. (Front, from L) Russian Energy Minister Alexander Novak, EU Energy Commissioner Gunther Oettinger and Ukraine's Energy and Coal Industry Minister Yuri Prodan sign an agreement at the European Union Commission headquarters in Brussels. BRUSSELS: Russia agreed to resume gas deliveries to war-torn Ukraine through the winter in an EU-brokered, multi-billion … [Read more...]

China says nets 180 graft suspects in overseas manhunt


China says it has captured 180 people suspected of committing economic crimes as part of an aggressive anti-corruption campaign targeting suspects who have fled abroad, state news agency Xinhua reported. The campaign, dubbed Operation Fox Hunt, included the arrests of 104 suspects, Xinhua said late on Thursday, citing China's Ministry of Public Security. Seventy-six people returned to China to give themselves up, according to Xinhua. The announcement came three months after the Chinese … [Read more...]