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Image : Philippine trade minister says Manila keeping economic ties with U.S.

Philippine trade minister says Manila keeping economic ties with U.S.

person Orange Themes access_time Oct 21,2016

The Philippines will maintain its trade and economic ties with the United States, Trade Minister Ramon Lopez said on Friday, a day after President Rodrigo Duterte announced his separation from Washington. In terms of economic, we are not stopping

Image : Japan withholds annual dues to UNESCO

Japan withholds annual dues to UNESCO

person Orange Themes access_time Oct 15,2016

TOKYO (AP) — Japan has withheld its annual UNESCO dues, saying it wants to make sure the U.N. body properly functions to foster trust among member nations.

Image : Texas officials refute 'vote-flipping' after Trump tweet

Texas officials refute 'vote-flipping' after Trump tweet

person Orange Themes access_time Oct 28,2016

AUSTIN, Texas (AP) — In his latest attempt to cast doubt on the election process, GOP presidential candidate Donald Trump raised suspicions Thursday about the voting machines in reliably Republican Texas despite producing no evidence of an actual

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Vietnam's central bank to acquire 52 percent stake in PVcomBank

access_time Jun 23,2016 chat_bubble_outline 81 views
The State Bank of Vietnam has approved a plan to acquire a stake of 52 percent in state-controlled PVcombank as part of the ongoing restructuring process at the medium-sized lender, local media reported on Wednesday. The stake is currently held by national oil giant PetroVietnam and the change of ownership will not cost the central bank money, news website VnExpress said, citing a plan that PVcombank is expected to present to shareholders. Established in 2013 from a merger between PetroVietnam Finance Corp. and Western Bank, the lender officially known as Vietnam Public Joint Stock Commercial Bank has a charter capital of VND9 trillion ($398 million). Morgan Stanley currently owns a stake of 6.66 percent, according to the bank's website. PVcomBank reported a net profit of VND56 billion (US$2.47 million) last year, down 39 percent from 2014. Vietnam has asked state-owned enterprises to pull out of sectors that are not their main business areas. As PetroVietnam planned its divestment from PVcomBank, the central bank emerged as a suitable candidate to take over the shares, local media reported. Last year the central bank took over three small loss-making lenders -- Global Petro Bank, Vietnam Construction Bank and Ocean Commercial Bank -- at zero dong, after their reportedly failed restructuring attempts. The acquisitions were part of the central bank's efforts to restructure the overcrowded banking sector that was blamed for dragging on the economy with bad debts in previous years. The central bank has orchestrated 12 mergers among 22 commercial banks and four financial companies. Another five mergers between five banks and five financial companies organizations approved by the central bank over the years are waiting for conclusion. Vietnam now has 43 banks, including six wholly foreign owned. That number is expected to be reduced to 20-25 in the next two years, according to the central bank's plan. The banking sector's bad debts were equivalent to 2.62 percent of total loans at the end of March, compared to 2.55 percent at the end of last year, official data showed. Read on the original site
Beats, booze and bodypaint: full moon party defies Thai troubles

[/i]Thousands of partygoers dance on Haad Rin beach during a Full Moon Party on the southern Thai island of Ko Phangan (AFP Photo/Lillian SUWANRUMPHA)Koh Phangan (Thailand) (AFP) - For many ravers on the tropical oasis of Koh Phangan, the origins of the Thai island's debauched full moon parties are as hazy as their memories of the beach bash the next morning.Yet Sutti Kursakul, a middle-aged island native with a distinctive black moustache, claims he not only remembers the first moonlit party… chat_bubble_outline Read More...

'No drama Adama' Barrow seeks to end Gambia's erratic Jammeh era

By Edward McAllister and Joe BavierDAKAR (Reuters) - A decade and a half ago, Adama Barrow was working 15-hour shifts as a security guard at retailer Argos in north London, harboring dreams of making his mark as a real estate developer.On Friday, he was declared president-elect of his homeland, the tiny riverside West African nation of Gambia, ending over two decades of rule by Yahya Jammeh, a feared authoritarian who once said he would rule for "a billion years".Gambians are now looking to the… chat_bubble_outline Read More...

Fan killed in shooting outside Rio de Janeiro soccer stadium

RIO DE JANEIRO (AP) — Rio de Janeiro football club Botafogo confirmed the death of a fan who was shot outside its stadium, the same venue used for athletics at the Olympics.In a statement, the club said it was "deeply sorry for the death" of the fan identified as 28-year-old Diego Silva dos Santos, who was shot on Sunday as rival fans clashed before the match between Botafogo and Rio rival Flamengo. Flamengo won the match 2-1.Many police in Rio are going unpaid or being paid late, with reports… chat_bubble_outline Read More...

2-time overall champ Veith postpones comeback from injury

VIENNA (AP) — Two-time overall World Cup champion Anna Veith is skipping the season-opening giant slalom in Soelden next Saturday.Known as Fenninger before getting married earlier this year, she missed last season to recover from knee surgery. Veith says on her Facebook page she "feels that I need more time. Racing like I wish to do is not possible yet."She says "I do everything to return to the World Cup very soon."Veith won the overall title in 2014 and again in 2015, but damaged her right… chat_bubble_outline Read More...

Is Hanjin to be followed by Vietnamese shipping firms?

Experts have warned that some Vietnamese shipping firms, incurring big debts, will soon follow Hanjin and file for bankruptcy. At least two – Vinashinlines and Falcon – have been following procedures to declare bankruptcy. The global financial crisis occurred in 2008, affecting maritime shipping. After eight years, while the financial market has recovered, the shipping industry is still immersed in difficulties. The fact that Hanjin, one of the 10 largest shipping firms in the world, has… chat_bubble_outline Read More...

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