Masan takes full ownership of tungsten processing facility Masan Resources Corporation (UPCoM: MSR), one of the world’s largest integrated industrial tungsten mineral and chemical producers, announced that Nui Phao Mining Company Ltd. (NPMC), a wholly-owned subsidiary of the company, has acquired H.C.Starck GmBH’s (HCS) 49 per cent stake in Nui Phao-H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for the total cash consideration of $29.1 million, and now owns 100 per cent of this company. NHTCM, previously a joint venture between NPMC and HCS, was established in 2013 and is a leading producer and global supplier of tungsten chemicals (ammonium paratungstate [APT], blue tungsten oxide [BTO], and yellow tungsten oxide [YTO]). NHTCM processes tungsten concentrate (TC), the main product of NPMC, into higher value-added tungsten products. In consideration of NHTCM’s contribution to the development of Vietnam’s high-tech industries, the Vietnamese Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 17/8
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G7 finance chiefs meet as Trump trade doubts linger
BARI, Italy — G7 finance ministers meet Friday in Italy, seeking common ground and stability on future world trade after US President Donald Trump’s declaration that "America First" would be his mantra. The meeting, which will continue into Saturday, is the first Group of Seven (G7) outing for Steven Mnuchin, Trump’s Treasury Secretary and a former Goldman Sachs banker tasked with delivering the US economic agenda. The doubts over trade has seen the gathering in Bari tipped as being the venue for the latest battle of Bari, a fortified port on Italy’s southern Adriatic coast that has seen many power tussles over the centuries. But in the run-up, officials from all seven members of the club of wealthy, industrialised nations have indicated that differences over Trump’s plans to roll back the boundaries of free trade have been pushed to the sidelines. Hosts Italy have sought to find areas of agreement between Trump’s populist but still vague … [Read more...] about G7 finance chiefs meet as Trump trade doubts linger
Amazon sees lower operating profit this quarter, shares dip
Amazon.com Inc forecast an unexpected dip in operating profit for the current quarter, sending shares down more than 4 percent due to concerns about the costs of investments including new warehouses and video content. The world's largest online retailer also reported lower-than-expected fourth-quarter revenue and missed Wall Street targets for its closely watched cloud computing unit. The Seattle-based company is spending heavily to take greater control of package delivery and to expand its video service around the world. Key to its plan is to entice sign-ups for Amazon Prime, its $99-per-year shopping club, which has led to users buying more goods, more often. "The story is an investment story," said Amazon Chief Financial Officer Brian Olsavsky on a conference call with reporters, noting "stepped-up" spending levels have continued into 2017. GlobalData Retail analyst Anthony Riva warned of profit erosion. "Low cost and fast delivery are a fundamental part of Amazon’s appeal to … [Read more...] about Amazon sees lower operating profit this quarter, shares dip
Social News 2/5
Stone-carrying lorries stir up dust, loud noise Heavy lorries carrying stones have been driving around the clock and making a terrible and dusty environment in Phú Mãn Commune, in Hà Nội's Quốc Oai District. Over recent years hundreds of households in the commune, 30km from Hà Nội's centre, have suffered from serious pollution, but local authorities have not helped them. Stone exploitation at local mines was to blame according to local residents; some enterprises have been licensed to exploit stone since 2007. Before 2007, the environment of the six villages in Phú Mãn Commune was healthy, local residents said. Things started to get worse when stone mining began. Local people's daily activities were affected as were schools and health centres by the loud lorries. The 2.7 km main road linking the commune centre with the villages was seriously damaged, causing traffic jams. Early last year, Quốc Oai District authorities invested money from the local budget to upgrade the … [Read more...] about Social News 2/5
Vietnamobile commercializes 3G service
Vietnamobile commercializes 3G service By Thu Hien - The Saigon Times Daily HCMC – Vietnamobile on Tuesday became the country’s final mobile operator to commercialize the third generation (3G) network service, in the context that it is now left with only half of the license to deploy the service. Vietnamobile will provide 3G services at a transmission speed of 21.6 Mbps, including web browsing, online television, video phone call, and video blogging, allowing users to upload their video clips on the web hosting of Vietnamobile at http://3g.vietnamobile.com.vn. Unlike other 3G service providers, Vietnamobile applies the same prices and SIM card for both cell phones and USB devices. Therefore, customers can choose to use 2G or 3G on their own discretion. During the beginning period, the network operator will focus on developing 3G services in big cities like HCMC, Danang and Hanoi. Although being the last mobile service provider to join the 3G market, Vietnamobile’s 3G … [Read more...] about Vietnamobile commercializes 3G service