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Image : US unemployment lowest in 9 years as job creation continues

US unemployment lowest in 9 years as job creation continues

person Orange Themes access_time Dec 02,2016

The US unemployment rate in November fell to its lowest level since August 2007 as the economy continued to add new jobs, all but guaranteeing an interest rate hike this month. The jobless rate fell three-tenths to 4.6 percent, with a solid 178,000

Image : Discovering underground market in Saigon

Discovering underground market in Saigon

person Orange Themes access_time Mar 15,2017

EN VietNamNet - Sense Market, a newly established shopping center and food court, has attracted lots of locals and foreign tourists.

Image : Mexican cement maker ready to help Trump build border wall

Mexican cement maker ready to help Trump build border wall

person Orange Themes access_time Nov 23,2016

By Roberto Aguilar and Noe Torres MEXICO CITY (Reuters) - A Mexican cement maker is ready to lend its services to U.S. President-elect Donald Trump to build the wall he wants to erect on the southern border of the United States to curb immigration.

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Vietnam lacks funding for new expressway: Finance Ministry

access_time Oct 10,2016 chat_bubble_outline 67 views
Vietnam lacks funding for new expressway: Finance Ministry
Illustrative photo by VnExpress

Vietnam’s Ministry of Finance has called for a cautious review of a massive cross-country expressway project currently under consideration.

The Ministry of Transport requested approval of a $10.2 billion expressway linking Hanoi and Ho Chi Minh City to relieve the country's overburdened National Highway 1A.

According to the proposal, the government would cover 40 percent of the cost for the 1,372km expressway. Private investors would cover the rest.

However, officials at the Ministry of Finance warn that the state will have a hard time rallying its share of the funds. As it seeks to map the allocation of public funds between 2016 and 2020, the ministry warns that the country cannot raise further funds by issuing bonds, taking out preferential loans or seeking official development assistance to fund the expressway project.

“In the event that it proves impossible to mobilize funds from the state budget for the project as specified in the proposal, we recommend the project timelines be adjusted,” the Ministry of Finance said in a statement.

The ministry also expressed doubts about banks financing the remaining 60 percent cost because they have already lent local BOT (building-operation-transfer) investors too much in recent years.

“The project should seek cooperation from foreign companies that can secure loans at reasonable interest rates,” the ministry added.

According to a proposal recently submitted to the government, the transportation ministry expects to secure approval by July 2017 and begin construction no later than May 2019.

It hopes that work will finish by December 2022 on the roadway, which has a designed maximum speed of 120kph (roughly 75mph).

If approved, the project will join a larger north-south expressway system that spans over 1,800km. About 470km of that system remain under construction and are set to be completed by 2020.

State media: Turkish jets strike Syrian Kurdish militia targets north of Aleppo in Syria

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Iraqi villagers escape Islamic State snipers, leave family behind

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In French documentary 'Smiles of Vietnam,' the country's beauty shines through

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Regional investors flock to Vietnam's property market

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Democratic aide pleads guilty to failing to file tax returns

WASHINGTON (AP) — A top aide to a Democratic congressman has pleaded guilty to willfully failing to file individual income tax returns.The Justice Department says in a statement issued Wednesday that Issac Lanier Avant failed to file timely returns between 2008 and 2013 despite earning more than $165,000 annually.The website Legistorm lists Avant's position as chief of staff to Rep. Bennie Thompson of Mississippi. Thompson's office did not immediately respond to a request for comment.The… chat_bubble_outline Read More...

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