At turbulent time

Will you choose beauty? The carnivorous Wavy Bubble Snail, perhaps, with its billowing skirts shimmering under UV light. Or will it be age? Like the venerable 500-year-old Methuselah oyster. Or will you be seduced by the leopard slug with its gymnastic mating ritual? The list of finalists for Mollusc of the Year has something for everyone. In a public vote ending Sunday, five species of soft-bodied invertebrates are vying to follow in the illustrious trail of previous winners, dubbed the "world's most beautiful snail" and "weirdest octopus". The grand prize? The triumphant species will have its genome decoded to better understand its evolution and potential benefits to humanity. The International Mollusc of the Year competition, which kicked off this month, is run by the LOEWE Centre for Translational Biodiversity Genomics, based in Germany. Organisers have whittled down the field from 85,000 mollusc species, thanks to nominations by researchers from around the world. By … [Read more...] about Their time to slime: who will be ‘Mollusc of the Year’?

U.N. Secretary General Antonio Guterres warned that the "climate time bomb is ticking" as he urged rich nations on Monday to slash emissions sooner after a new assessment from scientists said there was little time to lose in tackling climate change. "The rate of temperature rise in the last half century is the highest in 2,000 years," he said. "Concentrations of carbon dioxide are at their highest in at least 2 million years. The climate time-bomb is ticking." In a recorded address, Guterres described the sixth "synthesis report" from the U.N.'s Intergovernmental Panel on Climate Change (IPCC) as "a survival guide for humanity" and urged developed countries to commit to reaching net zero emissions by the earlier date of around 2040. The synthesis report summarized findings from three expert assessments published between 2021 and 2022 that looked at the physical science, impacts, and mitigation of climate change. The summary report is designed to provide clarity for policymakers … [Read more...] about ‘Climate time bomb ticking’, emissions must urgently be cut, UN chief says

Le Nguyen Xuan Vu, CEO of Xuan Nguyen Group JSC, unveiled that for more than four years now, the company has not been able to access bank loans to support production, expedite factory investments, or grow. “Our long-term plans faced a halt in 2018 due to capital access difficulties. Although we have completed 70 per cent of the work volume, several projects are still waiting for capital to procure equipment and allow us to start operation,” said Nguyen. Businesses in agricultural production are facing multiple hardships This does not only affect Xuan Nguyen, many other firms in the food sector need capital advances before each season to make prepayments and build up stock amidst soaring input prices. Nguyen Dinh Tung, chairman of Vina T&T Import Export Trading Service Co., Ltd. said, "Food companies like us all need advances to cover the cost of product purchases and help farmers expedite production." "Sadly, as of now, both input costs and output markets … [Read more...] about Still tough times for food businesses

A bond batch worth VND3 trillion ($127.17 billion) belonging to Masan Group, the large conglomerate that includes WinMart and Techcombank as its subsidiaries, saw interest and principal payments paid on time in March 2023. The bond batch was issued in 2020 and advised by Techcom Securities (TCBS). TCBS are set to launch iBond Protect later this month with payment guarantees from Techcombank to ensure protection for investors. This is helpful timing as the market is in the beginning phase of recovery. TCBS will implement a private placement of shares with Techcombank for an amount greater than VND 10 trillion ($424 million) to raise capital in 2023. Currently, TCBS's capital adequacy ratio is at the top of the list and is well above the regulatory requirement of 220 per cent. In December 2022, TCBS signed an unsecured loan syndication contract worth $125 million, bringing the total mobilised value of their exposure to the international capital market to more than $300 million … [Read more...] about 500 bond codes issued by TCBS have been paid in full and on time

Nhon-Hanoi Station metro line on a trial run in late 2022. (Photo: VNA) Hanoi (VNA) – Hanoi’s authorities have proposed delaying the operation of the elevated section of Nhon-Hanoi Station metro line, the second of its kind in Hanoi, to August 2023 instead of late 2022 as planned. The municipal People’s Committee plans to complete the Nhon depot in May this year and hand over the system and safety certificate in August the same year. The city’s authorities blamed the delay on limited capacity of contractors, investors and consultant units as well as improper cooperation of relevant agencies. Other reasons come from problems related to regulations, standards, unit prices, railway materials and equipment. The city’s authorities also proposed extending the operation time of the whole metro line until 2027, thus increasing the construction costs by about 1.9 trillion VND (80.5 million USD to over 34.8 trillion VND (1.4 billion USD). The metro line’s expenditure was … [Read more...] about Hanoi’s second metro line delayed one more time

Outside of the State Bank of Vietnam in downtown Ha Noi. — Photo SBV The State Bank of Viet Nam must step up efforts in the management of the country's banking sector and prepare for all possible scenarios for timely and effective interventions, according to the World Bank. Carolyn Turk, WB country director in Viet Nam, said the global economy will likely enter a period of turbulence while it's struggling with slow growth, decreased demand, high inflation and central banks around the world tightening credit. Turk's comment was made in the aftermath of an event in which three US banks: Silicon Valley Bank (US' 16th largest bank), Silvergate Bank and Signature Bank, one after another, collapsed in a week. She said the ramifications of such an event will likely follow within a short time and consequences be felt across the global financial market, which commands policymakers to pay attention and plan for necessary interventions. She said there are many similarities that can be … [Read more...] about Central bank must keep a close on the financial market: WB

The headquarters of the State Bank of Vietnam in downtown Hanoi. (Photo: SBV) Hanoi (VNS/VNA) - The State Bank of Vietnam must step up efforts in the management of the country's banking sector and prepare for all possible scenarios for timely and effective interventions, according to the World Bank (WB). Carolyn Turk, WB Country Director in Vietnam, said the global economy will likely enter a period of turbulence while it's struggling with slow growth, decreased demand, high inflation and central banks around the world tightening credit. Turk's comment was made in the aftermath of an event in which three US banks: Silicon Valley Bank (the US's 16th largest bank), Silvergate Bank and Signature Bank, one after another, collapsed in a week. She said the ramifications of such an event will likely follow within a short time and consequences be felt across the global financial market, which commands policymakers to pay attention and plan for necessary interventions. She … [Read more...] about Central bank must keep a close on financial market: WB

Luang Prabang's notorious Wat Xieng Thong (Photo: laotian time s.com) Vientiane (VNA) - The acclaimed American magazine TIME called Luang Prabang of Laos a “hidden paradise” and recommended it as one of the 50 greatest places in the world in 2023. According to the magazine, Luang Prabang and Phuket and the Isan region of Thailand are the only three places in Southeast Asia in the list. Turquoise waterfalls, Buddhist temples , and sunset boat trips on the Mekong are just a few of Luang Prabang’s highlights. Despite its remote location in the jungled mountains of Laos, the former royal capital is not just for backpackers, it said. The town boasts luxurious boutique hotels; some, like Amantaka and Sofitel Luang Prabang , are housed in historic French colonial buildings. Earlier, National Geographic, CNN, Wanderlust and Traveller of Australia also listed Laos as one of the attractive tourist destinations in 2023./. VNA … [Read more...] about US magazine calls Laos’ Luang Prabang “hidden paradise”

Cuong said that the potential for cooperation between Vietnam and the U.K., the first country in the world to institutionalize the net-zero emission target, is huge, as like the U.K., Vietnam has a long coastline and great solar power potential, especially in the Southern and South central regions as well as in the territorial waters in the South of the East Sea. Vietnam can learn from the experience of the U.K., the world leading country in clean energy, in many aspects, including policy. The U.K. has applied the Contract-for-Difference (CfD) mechanism to support businesses to develop wind power projects, which has been effective in the past 10 years. Vietnam can also partner with the U.K. in personnel training as the U.K. has leading universities in the field of clean energy. Meanwhile, Vietnam can learn from the U.K.'s measures to attract investment from world giants and build a system of industries and supporting industries for the renewable energy sector, thus become ready for … [Read more...] about Vietnam, U.K. see huge cooperation potential in clean energy development

This is an opportunity to provide a green and cost-effective source of energy for the country's strong economic development; and at the same time, support it to achieve its commitment to net zero emissions by 2050, made at the 26th United Nations Climate Change Conference (COP26), he stressed. As one of the countries that strongly support Vietnam's green and sustainable energy transition, Denmark expects the Vietnamese government to soon issue a clear and consistent legal framework, which is essential for the development of the offshore wind industry, added the diplomat. Nguyen Duc Hien, deputy head of the Party Central Committee’s Economic Commission, said that Vietnam holds great potential and advantages for wind energy development. By the end of 2021, the total registered capacity of offshore wind power investment in Vietnam had been around 154 GW, Hien said, adding that the draft eighth Power Master Plan sets a target to develop about 16.12 GW of onshore and nearshore wind … [Read more...] about Vietnam has dual opportunity from offshore wind power: Danish ambassador