That 70s show zodiac signs

The projects will support the development of more than 40 gigawatts (GW) of new generation resources, the California Independent System Operator (CAISO) said on Thursday. "With electrification increasing in other sectors of the economy, most notably transportation and the building industry, even more new power will be required in the years ahead," the CAISO said. The vast majority of the transmission projects will be built in California, with some in neighboring Arizona, it said. The power lines recommended by CAISO's 2022-2023 Transmission Plan will allow the state's grid to add more than 17 GW of solar resources, 8 GW of wind generation, 1 GW of geothermal development, and battery storage projects. CAISO will prioritize connecting power plants to the grid in specific geographical zones identified by its plan where developing new power lines and plants "make the most economic and operational sense." The grid operator also approved proposed reforms to account for … [Read more...] about California grid operator signs off on $7.3 billion of power lines

Vietnam will use 50 billion yen of this funding for the new-generation ODA (Official Development Assistance) budget support program for post-Covid-19 socioeconomic recovery and development, and the rest for the development of transport infrastructure and agriculture projects in the southern province of Binh Duong and and the central highlands province of Lam Dong. On Sunday, Chinh also held talks with Kishida on the occasion of partcipating the G7 Summit in Japan's Hiroshima. Japan is the largest provider of concessional ODA to Vietnam, with 2.98 trillion yen ($21.6 billion). Japan's ODA accounts for over 30% of bilateral aid to Vietnam. The two PMs said that the two countries would discuss the possibility of Japan providing new generation ODA for large-scale strategic infrastructure development projects, such as the North-South expressway, urban railways, green transformation, and medicine. These loans will have high incentives, with simpler and more flexible procedures than … [Read more...] about Vietnam, Japan sign three ODA projects valued at $500M

Petrovietnam Technical Services Corporation (PTSC) on Friday cut a deal with Orsted, Denmark’s leading energy firm, to manufacture turbine foundations for the 920-MW Greater Changhua offshore wind farm in Taiwan, one of Asia’s largest offshore wind projects. Under the deal, the Vietnamese firm will produce 33 suction bucket jacket foundations based on Orsted’s bespoke designs. They will be eco-friendly. The foundations will be installed at the Greater Changhua 2b and 4 wind farm, which covers 185 square kilometers, in late 2025. The project is estimated to consume 70,000 tonnes of steel and create thousands of jobs at PTSC and other contractors in the supply chain. PTSC CEO Le Manh Cuong speaks at the signing ceremony on May 19, 2023. Photo: Supplied “The partnership with Denmark’s Orsted marked a key milestone for PTSC’s development, driving the firm’s mass production," said PTSC CEO Le Manh Cuong. "The deal is expected to contribute to forming the supply … [Read more...] about Vietnam’s PTSC to manufacture foundations for Asia’s large offshore wind project

The People’s Committee of Mong Cai City in Quang Ninh Province, northern Vietnam on Monday cut off power in the entire city for three hours to complete the installation of a 110kV power transmission line from China, adding to the domestic power supply. Mong Cai will start using electricity bought from Shengou, Guangxi, China from Wednesday after the Northern Power Corporation, under state utility Vietnam Electricity Group, and Guangxi Power Grid Co. Ltd. signed a power purchase agreement on Tuesday. As per the agreement, the Chinese side has been committed to providing Vietnam with a maximum power capacity of 70 MW and a monthly output of 30 million kWh of electricity. The electricity obtained from the Chinese supplier will be distributed to the Mong Cai station, located in Mong Cai City, and the Quang Ha station, situated in Hai Ha District, both of which operate at a voltage of 110kV in Quang Ninh Province, between May and July -- the hot season in northern Vietnam. The deal … [Read more...] about Vietnam buys electricity from China to ease shortage

A raft of top brands were represented at last week’s investment conference At last week’s conference “Strong Investment Partnerships for a Thriving Vietnam” hosted by VIR, representatives of many foreign-invested enterprises (FIEs) discussed their concerns and gave recommendations for Vietnam to foster new investment inflows amid global complicated developments. Choi Joo Ho, CEO of Samsung Vietnam, said that Vietnam’s competitiveness to allure foreign investment is threatened because of different factors. “The global minimum tax regime is a prime example of the most significant external environmental changes,” he said. “If Vietnam also applies these policies, it could eliminate the instability in the business activities of affected FIEs. Samsung expects the Vietnamese government to continue creating a predictable business environment that is in line with global standards and the recent change in investment climate.” Similarly, Trang Le, head of Research and Consulting at … [Read more...] about Vietnam takes on pressures of foreign capital attraction

South Korea's arms sales jumped to more than $17 billion in 2022 from $7.25 billion the year before, according to its defence ministry, as Western countries scrambled to arm Ukraine and tensions rose in other hot spots such as North Korea and the South China Sea. The arms deal with Poland, a key NATO member, last year included hundreds of Chunmoo rocket launchers, K2 tanks, K9 self-propelled howitzers, and FA-50 fighter aircraft. The deal's value and the number of weapons involved made it stand out even among the world's biggest defence players. South Korean and Polish officials say their partnership will help them conquer the European arms market even beyond the Ukraine war, with Seoul providing high-quality weapons faster than other countries and Poland offering manufacturing capacity and a sales pipeline into Europe. Reuters spoke to 13 company executives and government officials, including those directly involved in the deal, who said the arrangement provides a blueprint for … [Read more...] about Inside South Korea’s race to become one of the world’s biggest arms dealers

Japan is now the largest ODA partner to Vietnam. Vietnam and Japan on May 21 signed three agreements worth 61 billion yen (US$442 million) to finance official development assistance (ODA) projects in Vietnam. The meeting between Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio on May 21. Photo: VGP The ODA projects aimed at socio-economic development and recovery in the post-pandemic stage, worth 50 billion yen (US$362.4 million), development of public transport in the southern province of Binh Duong, and development of agricultural facilities in Tay Nguyen (Central Highlands) province of Lam Dong. At the signing ceremony, Vietnamese and Japanese prime ministers agreed to discuss the potential of new-generation Japan-funded ODA projects. Accordingly, Vietnam will receive flexible concessional loans with more incentives to serve the nation’s mass infrastructure development projects in urban railroad construction, green … [Read more...] about Vietnam, Japan ink ODA deals worth US$442 million

Workers making garment products at a factory in Bim Son District, Thanh Hoa Province. — VNA/VNS Photo Many textile companies are struggling as they have to reduce employees due to shrinking revenues. The slowdown of global economic growth has affected manufacturing activities across industries, including textiles. In the first quarter of the year, Vietnamese textile and garment exports decreased nearly 18 per cent on-year to more than US$7 billion, according to General Department of Vietnam Customs statistics. The April data continued to show not very positive signs, with an export value of $2.5 billion, down nearly 20 per cent over last year. The industry continues to face challenges shortly due to a sharp decrease in purchasing power from major markets such as the US and European Union (EU), the recent textile industry report of KIS Vietnam Securities showed. Many businesses have not had orders for the rest of the second quarter. Inventories at major foreign … [Read more...] about Listed textiles enterprises face negative prospects this year

Workers making garment products at a factory in Bim Son district, Thanh Hoa province. (Photo: VNA) Hanoi (VNS/VNA) - Many textile companies are struggling as they have to reduce employees due to shrinking revenues . The slowdown of global economic growth has affected manufacturing activities across industries, including textiles. In the first quarter of the year, Vietnamese textile and garment exports decreased nearly 18% on-year to more than 7 billion USD, according to General Department of Vietnam Customs statistics. The April data continued to show not very positive signs, with an export value of 2.5 billion USD, down nearly 20% over last year. The industry continues to face challenges shortly due to a sharp decrease in purchasing power from major markets such as the US and European Union (EU), the recent textile industry report of KIS Vietnam Securities showed. Many businesses have not had orders for the rest of the second quarter. Inventories at … [Read more...] about Textile enterprises face negative prospects this year

Viet Thang Corporation, a subsidiary of state conglomerate Vinatex, has released its first-quarter results showing an increase of $315,650 in the company’s financial expenses, mainly attributable to interest fees which amounted to $275,650. Dony Garment Company, based in Binh Chanh, Ho Chi Minh City, reported that although capital access has become easier as banks have softened their lending rate from 13 per cent to as low as 9.5 per cent, repayments are still having an impact as the company simply doesn’t have enough large-value orders. Dony Garment's export market has shed nearly 70 per cent on-year, and domestic orders have fallen about 20 per cent and continue to drop. Pham Quang Anh, director of Dony Garment, said, "We don't even dare to think about growth at this time. Surviving this tough spell represents enough of a challenge.” In the short-term, Dony Garment is considering selling part of it assets to pay back loans to reduce interest payment pressure, and in … [Read more...] about Tough times for garments and textiles firms