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The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about the soundness of the banking system, saying that the management of Silicon Valley Bank "failed badly," but that the bank's collapse did not indicate wider weaknesses in the banking system. "These are not weaknesses that are running broadly through the banking system," he said, adding that the takeover of Credit Suisse seemed to have been a positive outcome. The Federal Open Market Committee policy statement also said the U.S. banking system is "sound and resilient." Even so, Wall Street ended sharply lower after Powell told a news conference that officials were still intent on fighting inflation while also eying the extent to which recent bank failures had cooled demand and slowed lending. The … [Read more...] about U.S. Fed delivers small rate hike amid global banking turmoil

Four flight attendants of national flag carrier Vietnam Airlines who were taken into custody last week for transporting 11.4 kilograms of ecstasy and meth from France to Vietnam were released on Wednesday afternoon. According to Ho Chi Minh City investigators, there is no ground to file criminal charges against them. However, the case is still under investigation. Police said the flight attendants -- Vo Tu Quynh, Tran Thi Thu Ngan, Nguyen Thanh Thuy, and Dang Phuong Van -- did not know that they were carrying drugs. Last Thursday, customs officials at Tan Son Nhat International Airport in Ho Chi Minh City detected 8.4 kilograms of grey tablets and 3.080 kilograms of white powder, which are ecstasy and methamphetamine, in the four flight attendants’ carry-on luggage. The drugs were found in toothpaste tubes. Lieutenant General To An Xo, spokesperson of the Ministry of Public Security, told Tuoi Tre (Youth) newspaper that based on investigation results, relevant agencies … [Read more...] about 4 Vietnam Airlines flight attendants released after being caught transporting drugs

The sons of Hanoi held their heads high and persevered in the cause of national liberation in the face of brutality and harassment. The lethal and brutal treatment and torture in Phu Quoc jail could not weaken the determination of the sons of Hanoi to survive and fight for the freedom and independence of their homeland. Former Hanoi imprisoned veterans attend a ceremony on March 22 that honors their sacrifices for national unity and liberation. Photo: Thanh Hai/The Hanoi Times Phu Quoc Prison was built in 1949-1950 under French colonial rule to detain political dissidents and national patriots. From 1963 to 1973, more than 40,000 Vietnamese patriots, soldiers, and communist activists who fought for the liberation of their country were incarcerated in the prison, which was run by the South Vietnamese regime. Located some 90 kilometers from the Vietnamese mainland, Phu Quoc prison was the site of the deaths of some 4,000 people who gave their lives in the … [Read more...] about Hanoi patriots recount memories of captivity

A representative of the Authority said the attendants had abused their positions to smuggle goods and thus would not be able to work in any other aviation businesses in Vietnam. The Authority also ordered the airline to perform more comprehensive internal inspections within itself, and make sure that all crew luggage is inspected before and after flights. A representative of Vietnam Airlines said the national carrier would discipline the attendants in line with the results of the official investigation released by police. On March 16, a security inspection at Tan Son Nhat Airport in Ho Chi Minh City found hundreds of toothpaste tubes containing a total of 11.4 kg of drugs hidden within the carry-on luggage of the four flight attendants. The attendants were promptly arrested after their shift aboard flight VN10 from France to Vietnam. The suspects told police they had agreed to transport the 60 kilograms of toothpaste tubes on the request of a person in France who indirectly … [Read more...] about Flight attendants could face dismissal in drug probe

"Vietnam regrets to see that the annual human rights report of the U.S. State Department for 2022 has made comments that lack objectivity, and are based on inaccurate information, about Vietnam’s situation," said deputy spokeswoman of the Ministry of Foreign Affairs Pham Thu Hang in response to the document. The 2022 Country Reports on Human Rights Practices, released by the U.S. State Department on Monday, mentioned Vietnam. Hang said Vietnam’s consistent stance is to protect and bolster human rights. "Fundamental human rights are recognized in Vietnam’s Constitution, and they are protected and promoted by both legal documents and actual practices," she said. Hang added that humans are the central driver of the country’s innovation and development, which only strives to better people’s lives. "Vietnam is always willing to exchange ideas directly and openly, in the spirit of cooperation, with the U.S. on issues [where the two countries] have differences, in order to promote … [Read more...] about ​Vietnam calls US human rights report subjective

Property arm Lotte Land last month said it would cease plans for the Lotte Eco Logis Dong Nai, which was granted an investment certificate only in November 2022. illustration photo/source baodautu.vn In a document dated March 2, Dong Nai Industrial Zones Management Board stated that Lotte Land had sent an official document on cancelling the project in Nhon Trach Industrial Zone VI from February 17. The board requested the investor to liquidate the project and fulfill all obligations related to the operation of the enterprise in accordance with the law. Younggun Ko, a director of Lotte Land, told VIR that various circumstances and investment plans related to this project had been changed, leading to the cancellation. Ko added that the move would not make much of an impact on the business of Lotte Land, and its general business strategy would remain the same. Lotte Mall Hanoi, a $600 million facility, is still expected to open in August and will include a hotel, … [Read more...] about Lotte switches focus after cancellation of warehouse development in Dong Nai

Many students at a school in HCM City have been infected with the H1N1 influenza A according to the HCM City Centre for Disease Control (HCDC). Many students at Vo Truong Toan Primary School in District 10 are infected with the H1N1 influenza A A report from the centre said that some 20 students at Vo Truong Toan Primary School in District 10 showed flu symptoms such as high temperatures, coughing, sore throat, fatigue and vomiting on March 15 and 16. Some pupils even had a high temperature of more than 39 degrees Celsius. HCDC randomly took blood samples of six sick students and the test results all came back positive for H1N1 influenza A. The centre has co-operated with the city Children's Hospital to provide check-ups and treatment for the sick children. No more pupils have been infected with the H1N1 strain, the centre said. The centre warned Ho Chi Minh City is in the peak season of respiratory diseases, which easily spread in a … [Read more...] about H1N1 influenza A infections detected in HCM City school

The Vietnam News Agency (VNA) and the National Associated Press Agency of Italy (ANSA) sign a professional cooperation agreement at an online ceremony held in Hanoi on February 20. (Photo: VNA) Hanoi (VNA) - Italian Ambassador to Vietnam Antonio Alessandro cited Italian President Sergio Mattarella's words as saying that the relationship between the two countries “strongly rooted in history” while granting an interview to the Vietnam News Agency (VNA) on the occasion of the 50th founding anniversary of bilateral diplomatic ties (March 23, 1973 - 2023). The following is the full text of the interview. Reporter: How do you evaluate the relations between Vietnam and Italy since the establishment of the bilateral diplomatic ties 50 years ago, especially since the upgrading of the relationship to a strategic partnership in January 2013? Ambassador Antonio Alessandro : I would use the words of the President of the Italian Republic Sergio Mattarella, who has just released a … [Read more...] about Italy – Vietnam relationship “strongly rooted in history”: Ambassador

Renato Darsie (R), Chairman of the Italy - Vietnam Friendship Sub-Association in Veneto , presents the right to use the Vietnamese cultural centre to a representative of Vietnamese students in May 2022. (Photo: VNA) Rome (VNA) – With multiple-year experiences, the Italy - Vietnam friendship sub-associations in regions of the European country can make practical contributions to the friendship and cooperation between the two countries by providing information on Vietnam to Italian people and businesses. So said Renato Darsie, Chairman of the Italy - Vietnam Friendship Sub-Association in the Veneto region, in an interview granted to the Vietnam News Agency. He described the 50th anniversary of the diplomatic relationship (March 23, 1973 - 2023) as an important milestone marking the growing friendship and political, economic, and cultural ties between the two countries. Bilateral relations over the last 50 years are those of solidarity and friendship across the board as … [Read more...] about Friendship sub-associations practically help with Italy – Vietnam ties: insider

Bangkok (VNA) – Thai police on March 22 announced that they had arrested 20 suspects, including five Indians and 15 Thais, for alleged involvement in a phone scam network preying on elderly Americans. According to local police, the scammers were arrested in Chon Buri, Rayong, Roi Et and Surat Thani on March 21, adding that all five of the Indian suspects were men and 11 of the 15 Thais detained were women. The police also seized 162 bank account books, 61 mobile phones, two cars, one pistol, land title deeds and other assets. The investigation dates back to last year, when US Federal Bureau of Investigation (FBI) and Secret Service agents informed Thai police that Indian cyber criminals and Thai nationals had set up a phone scam network to trick elderly people in US into transferring money to them. The fraudsters, pretending to be US law-enforcement officials, preyed on the fear of their victims by telling them that they were being investigated for alleged money … [Read more...] about Thailand arrests phone scam gang targeting elderly Americans