Gold demand fell in the second quarter but is still expected to rise in the full year as Asian buyers add to holdings and interest in the metal as a haven is stoked by worries over U.S. and euro zone debt, the World Gold Council said on Thursday. In its quarterly Gold Demand Trends report, the WGC said signs of strength in the market remain concentrated in India and China, with buying of coins, bars, jewellery and gold-backed funds all declining in Europe and the United States. … [Read more...] about Gold expected to shrug off Q2 demand dip – WGC
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ART & ENTERTAINMENT IN BRIEF 26/7
Hanoi tightens control over ad banners Inspectors of the Hanoi Department of Culture, Sports and Tourism will take action to control advertising banners illegally hung over city streets. At a recent press conference, the department's chief inspector, Nguyen Thanh Phong, said the city has banned the hanging of banners across streets since July 15. The move followed a recent case in which banners for a music show entitled "The Hanoian" in front of Hanoi Opera House were cut by someone, causing public concerns. Nguyen My Trang, Director of My Thanh Company which organised the programme, said that it was the action of competitors and that those who cut the banners were trying to damage the image for the programme. According to Mr. Phong, currently such banners are almost non-existent on the electric poles and trees in Hoan Kiem District. For a long time, the front and sides of Hanoi Opera House were covered with banners advertising various art programmes. However, in recent years … [Read more...] about ART & ENTERTAINMENT IN BRIEF 26/7
BUSINESS IN BRIEF 13/7
Binh Dinh mulls constructing MSW power plant Outgrow Energy Consult Co Ltd (OEC) based out of Bangkok, Thailand has unveiled its proposal to oversee construction of an electricity power plant utilizing municipal solid waste (MSW) technology at the Nhon Hoi Economic Zone. Details of the proposition were discussed in specific detail by Tipanan Sirichana, managing director of OEC at a recent meeting with the Binh Dinh Provincial People’s Committee. The Managing director said MSW technology is a more cost effective and environmentally friendly alternative to landfilling or composting technologies, which would require the province to purchase fuel to incinerate the waste. In contrast, MSW facilities are paid by the fuel suppliers to take the fuel (known as a ‘tipping fee’). The tipping fee is comparable to the fee charged to dispose of garbage at a landfill and would result in significant cost savings for the province. OEC specializes in project development services … [Read more...] about BUSINESS IN BRIEF 13/7
BUSINESS IN BRIEF 10/7
Vietnam cocoa splashes into organic market The global demand for organic cocoa products has been soaring over the past few years, while the supply side has faced challenges keeping up, says the Vietnam Coffee and Cocoa Association. Organic cocoa has more nutritional benefits than its nonorganic counterpart such as more fibre, iron, magnesium, copper, manganese and other minerals. In addition, it contains plentiful antioxidants, which helps to protect skin. Currently, the Dominican Republic dominates the global organic cocoa market in terms of production, holding roughly a 70% market share while Peru, Ecuador and Mexico collectively control around 20% of the market. The remaining 10% is held primarily by other South American countries including Bolivia, Ghana and Brazil with other parts of the world meeting only a miniscule portion of the world’s demand. Speaking at a recent conference in Ho Chi Minh City, Luong Van Tu, chairman of the Association, said market conditions are right … [Read more...] about BUSINESS IN BRIEF 10/7
SOCIETY IN BRIEF 16/10
Building in HCMC collapses, injures 11 11 workers were injured when a three-story building under construction in Ho Chi Minh City suddenly collapsed Saturday morning. The site of the collapsed building. (Photo: Tuoi Tre) The accident occurred at 8:30 am Saturday when 16 workers were working at the construction site near a swamp in Can Gio District's An Thoi Dong Ward. Of these workers, 11 were hit by or buried in the ruins of the collapsed building. They were later taken to the People's Hospital 115 for emergency treatment. Two of the victims are in serious conditions. Works on the building started two months ago and its owner has obtained a construction license, the ward police said, adding that the contractor has bought insurance for the construction. Some local residents blamed the collapse on the weak foundation of the house as it had been built next to a swamp. The ward's construction inspectorate and police are blocking the site and investigating the … [Read more...] about SOCIETY IN BRIEF 16/10