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Russia announces special security situation after airport blast
Moscow (VNA) - Russian President Dmitry Medvedev has ordered a special security regime across the country’s transport hubs following a Moscow airport bomb attack.
By 9 pm of Jan. 24 (local time), at least 35 people were killed and 168 other injured, including two foreigners, in a suicide bombing at Domodedovo international airport .
The blast took place at 4.40 pm of Jan. 24. Meanwhile a Vietnam Airlines flight from Ho Chi Minh City to Moscow was about to land at 5.30 pm the same day. To date, there is no information relating to Vietnamese passengers’ casualty.
However, after the explosion, Russian relevant agencies had decided to ask Vietnam Airlines’ and other countries’ flights to move to Sheremetievo and Vnukovo airports for taking off and landing.
President Medvedev also ordered relevant agencies to recover the blast’s aftermath, including giving emergency aid and assistance to injured people.
The President canceled his tour of Davos to attend the World Economic Forum planned for this week.
Meanwhile, Prime Minister Vladimir Putin directed Russian officials and related agencies to conduct emergency measures to help families of death and injured people.
The Interfax news agency said investigators found the head of a 30-35 year-old Arabian man, who was thought suspected bomber of the attack.
Earlier, Russian security agencies had received a warn of an attack to a Moscow airport.
UN Secretary General Ban Ki-moon on Jan. 24 strongly condemned the suicide bombin at Domodedovo airport while Secretary General of the North Atlantic Treaty Organisation Aders Fogh Rasmussen showed its “solidarity” to Russia .
The same day, leaders of the US , UK , France , Bulgaria , Germany , Egypt , Jordan , Canada and Australia strongly condemned the cruel bombing.
Together with Sheremetievo, Domodedovo is one of the two largest international airport in Moscow . In 2010, the airport carried 22.3 million passengers.
The Jan. 24 suicide bombing at the airport is considered the largest ever from the beginning of the year and the second one after a bomb attack on the Moscow metro on March 29, 2010, which killed 40 people and injured more than 100 others./.
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ASEAN FMs inspect Kunming-Bangkok highway
Hanoi (VNA) - Foreign Ministers from the Association of Southeast Asian Nations (ASEAN), their representatives and ASEAN Secretary-General Surin Pitsuwan inspected the Kunming-Bangkok highway on Jan. 24.
The 1,750-km-long road linking Kunming , capital of southwest China 's Yunnan province, to Bangkok lays a solid foundation for the China-ASEAN free trade zone.
The journey was made only one day ahead of a meeting between the ASEAN and Chinese foreign ministers on Jan. 25. The meeting kicks off a series of events to mark the China-ASEAN Friendship and Exchange Year.
Connectivity on the Kunming-Bangkok is expected to be discussed at the meeting.
ASEAN and China started their dialogue in 1991. The two sides established "a strategic partnership for peace and prosperity" in 2003.
The China-ASEAN Free Trade Area took effect last January, opening up a combined market of 1.9 billion people.
China is ASEAN's biggest trade partner and ASEAN is China 's fourth. Two-way trade between the two sides reached to over 292.78 billion USD in 2010./.
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Photos a unique documentary of Giong festival
Hanoi (VNA) — A unique exhibition displaying veteran photographer Van Tho's collection of 100 photos of the Giong Festival has opened at the Phu Dong Temple , in Gia Lam district on the outskirts of Hanoi .
The photos document the dances and worshipping ceremonies as well as the domestic and foreign officials that attend the festival and even the festival preparations.
All of the photos are in colour except for the artist's first image taken in 1970.
"I cannot count the number of photographs I've taken of the annual festival," Tho said since 1970, "I have selected the 100 best as my gift to celebrate the recognition of the festival as an intangible cultural heritage by UNESCO."
The artist was born in 1943 in Phu Dong Village himself. At the age of seven, he played a soldier in Saint Giong's 90-soldier team in the festival. He recalled falling into the pond in front of the temple and racing home to dry his clothes so that he could finish his role in the event.
"Taking part in the festival is a great honour," he said, "That's why the villagers have happily made contributions."
After the exhibition, Tho plans to build a house in which to store his works and memories of the festival.
"If the project is approved [by local authorities], I will select quintessential photos of the festival by many photographers for display," Tho said.
"The exhibits may also include small models of objects used at the festival so that visitors to the temple can learn how the festival is organised, what it symbolises and what activities take place. They can also practise the traditional dances if they want."
A ceremony was held at the temple on Jan.22 by the Ministry of Culture, Sports and Tourism, the Hanoi Municipal People's Committee and the Vietnam National Commission for UNESCO to bestow the UNESCO Certification recognising the Saint Giong Festival as a world intangible heritage.
The festival was the third element of Hanoi 's heritage recognised by UNESCO in last year, joining the 82 doctoral stone steles in the Temple of Literature and relics of the Thang Long Royal Citadel.
The festival is dedicated to Saint Giong, born in Phu Dong Village in the reign of King Hung VI. According to legend, he was a man of great strength who fought the northern invaders. After his victory, he flew back to heaven on his iron horse over Soc Mountain , which locates in today's Soc Son district.
There are many festivals held in the northern region to honour Saint Giong. The most popular are the ones in Phu Dong Village in Gia Lam District and Soc Village in Soc Son District.
The event in Phu Dong is annually held on the ninth day of the fourth lunar month and in Soc Son, on the sixth day of the first lunar month./.
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Key shares weigh on VN-Index
Hanoi (VNA)— Influential stocks Bao Viet Holdings (BVH) and Masan Group (MSN) slumped on Jan. 24 dragging the VN-Index down 1.85 percent to close at 509.88, ending its eighth successive day of gains.
On the HCM Stock Exchange, heavy profit-taking pushed BVH and MSN down to their floor prices after one week of top-to-the-ceiling jumps.
Sai Gon Securities Inc (SSI), the most active stock with 2.4 million shares changing hands, also declined by 2.7 percent.
The market closed with 194 decliners (28 dropped to the floor), 42 gainers (six rose to the ceiling) and 48 closing unchanged.
Trading volume reduced by over 18 percent from Jan. 21 to just 38.3 million shares, worth a total of 1 trillion VND (51.3 million USD).
Au Viet Securities Co analysts said small investors were still used to investing in penny and mid-cap stocks whose prices range from 10,000-20,000 VND (0.51-1.03 USD). Therefore, although the VN-Index rose strongly last week, the majority of investors did not profit, and even suffered losses.
Dairy company Vinamilk (VNM) and Vietcombank (VCB) both climbed to the ceiling for two consecutive days on Jan. 24. VNM closed at 98,000 VND (5.03 USD) and VCB at 34,600 VND (1.77 USD).
On Jan. 24, the Vinamilk management board decided to issue bonus shares to existing shareholders at the ratio of 2:1 and planned to auction 3 per cent of its charter capital to the public. The shareholder meeting, scheduled for March 25, is expected to approve this decision.
In Ha Noi, the HNX-Index also fell 1.53 percent to finish at 106.22 and losers were four times higher than gainers.
Blue chips, including Asia Commercial Bank (ACB), Kim Long Securities (KLS) and construction company Vinaconex (VCG), declined slightly. Meanwhile, most gainers were penny stocks, such as Art Design and Communication Co (ADC), Seafood Co No 1 (SJ1) and beverage maker Thang Long Co (VTL) who all rose to the ceiling.
PetroVietnam Construction (PVX) was the most heavily-traded with over 2 million shares exchanged. It rose 1 per cent to 21,000 VND (1.08 USD).
Foreign investors were net buyers on Jan. 24 on both exchanges, picking up over 1.6 million shares worth 62.5 billion VND (3.2 million USD)./.
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US equity group invests in mine project
HCM City (VNA) — US-based private equity group Mount Kellett Capital Management LP will invest 100 million USD in Masan Resources, an affiliate of HCM City-listed conglomerate Masan Group (MSN), the group announced on Jan. 24.
Mount Kellett co-founder Jason Maynard said, "We have invested on the expectation that Masan Resources will ultimately become the leading resources platform in Vietnam and Indochina ."
Masan Resources currently holds 100-percent ownership of the Nui Phao Mine. With approximately 55.4 million metric tonnes of proven and probable reserves of tungsten, fluorspar, bismuth and copper, the mine was expected to begin operations in January of next year and, once fully operational, generate over 300 million USD in revenues per year.
Upon completion of the current deal, Mount Kellett would hold a 20-percent stake in Masan Resources, while Masan Group would retain 64 percent and Tiberon Minerals Pte Ltd 16 percent. Masan Group has a call option to buy Tiberon's stakes over the next three years for approximately 60-90 million USD.
Masan Group also has obtained an eight-year senior-secured lending facility with the Vietnam Development Bank worth 120 million USD, significantly de-risking its position in the Nui Phao Mine. Full financial closure was expected by the end of the first quarter, with remaining funding to come from domestic banks and financial institutions. Total investment in the mine was expected to reach 440 million USD, of which 155 million USD has already been invested.
JP Morgan is serving as sole advisor to Masan Group on the Mount Kellett transaction. /.
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Short supply to benefit rubber industry
HCM City (VNA) — The national rubber industry is upbeat about export prospects in coming years, but experts are calling for a strategy to reduce over-reliance on a single market in the long run.
The Vietnam Rubber Association (VRA) said total export turnover last year reached 2.3 billion USD, surpassing the set target by 800 million USD.
Although rubber exports last year increased by only 5.7 percent in volume, reaching 750,000 tonnes, it rose by roughly 90 percent in value, according to the Ministry of Agriculture and Rural Development.
The country's total rubber output this year is estimated to reach about 780,000 tonnes, an increase of 30,000 tonnes over 2010, for a turnover of between 2.5 and 2.7 billion USD.
Last year saw latex prices soar dramatically, reaching 2,820 USD per tonne, a 230 percent surge over 2009. The hike in export prices benefited many local rubber exporters, the VRA said.
The Tay Ninh Rubber Company, for instance, earned revenues of over 806 billion VND (40.3 million USD), with pre-tax profits of 292 billion VND (14.6 million USD), surpassing its target by 152 percent.
Meanwhile, the Phuoc Hoa Rubber Company posted revenues of nearly 2 trillion VND (99.1 million USD), 90 percent more than its annual target; and a 75 percent increase in post-tax profits at 471 billion VND (23.5 million USD).
Experts attribute the increasing demand for rubber and higher prices to the global economic recovery, which has manufacturers of many products including tyres buying more of the raw material.
However, experts say that the supply of rubber will fall short of demand until at least the end of February this year since many large plantations in Thailand , Indonesia and Vietnam are now in their low production season.
Current reserves maintained by China , a major consumer, are estimated at only 58,675 tonnes, a drop of 55 percent compared to the same period last year.
China is Vietnam 's leading importer of latex, accounting for 70 percent of its rubber export revenues.
But rubber exports are overly reliant now on China 's import policies because large quantities are exported to the neighbouring country via border-trade or unofficial channels, said Tran Thi Thuy Hoa, general secretary of the VRA.
Hoa urged rubber businesses to increase the product quality and look for more markets instead of depending too much on the Chinese market.
Businesses should also export rubber to China via official channels, he said.
Of the total rubber cultivation area of 678,000 ha, 65 percent has given latex so far, according to the VRA.
The high economic value of latex has attracted investments from many businesses in many localities.
The Sai Gon Construction Trading Company has developed a project to cultivate rubber on 20,000ha in central Quang Tri province's Huong Hoa district. It aims to plant the trees on 1,500ha within this year.
The central province of Quang Binh has 13,000ha under rubber cultivation and plans to increase the figure to 26,000ha by 2015.
Experts have said that the expected increase in rubber output until 2020 would still be insufficient to meet demand, and the industry is expected to post higher earnings as a result.
Vietnam , Thailand and Indonesia are among the major suppliers of latex to the international market./.
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World Bank purchases An Binh Bank bonds
HCM City (VNA) — The International Finance Corporation, the private sector arm of the World Bank, has invested 40.5 million USD in Vietnam's An Binh Bank.
It has bought convertible bonds worth 480 billion VND (24 million USD) and regular bonds worth 312 billion VND.
"IFC's investment in the current unfavourable market conditions provides much needed long-term capital for An Binh Bank to pursue its portfolio growth and implement its capital increase plan in 2013," Vu Van Tien, the bank's chairman, said.
"The investment reinforces the capital position of An Binh Bank and supports the bank's efforts to strengthen its products and services with a focus on lending to small and mid-sized enterprises."
The IFC will also advise the bank on issues like corporate governance and energy-efficiency financing.
An agreement signed by the two sides last June envisages helping the bank design and implement a strategy to develop into a specialised bank serving small and mid-sized firms, which remain under-served in Vietnam .
"This investment demonstrates our commitment to the development of Vietnam 's banking sector," Karin Finkelston, the IFC's director for East Asia and the Pacific, said.
In 2008 Malaysia 's Maybank picked up a 15 percent stake in An Binh Bank and then increased it to 20 percent in 2009.
Last December it bought convertible bonds worth 120 billion VND (6 million USD) and regular bonds worth 78 billion VND to maintain its 20 percent stake in An Binh Bank./.
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Family planning healthcare network gains momentum
HCM City (VNA) — Two hundred and twenty private clinics have joined the BlueStar Healthcare Network, the country's first social franchising model for reproductive healthcare and family planning, since its launch in Vietnam in 2008.
The non-profit organisation Marie Stopes International Vietnam (MSIVN), in cooperation with the Vietnam Centre for Reproductive Health, has set up the alliance in HCM City , Hanoi , and Hai Phong and Khanh Hoa, Binh Duong, Dong Nai, and An Giang provinces.
It seeks to offer low-income people access to quality reproductive healthcare and family planning through existing private clinics, Nguyen Thi Bich Hang, country director of MSIVN, said.
It also seeks to increase utilisation of modern reproductive health and family planning methods to reduce unsafe abortions and improve access to preventive contraceptive methods.
The BlueStar providers receive training in areas like family planning knowledge, counselling, clinical skills, marketing, and business management.
The organisation also assists franchisees with improving infrastructure and monitoring the quality of services to ensure agreed standards are met.
Last year alone the network served nearly 400,000 people, providing family-planning services to 152,000 and abortions to 63,000 people.
It is expected to add a further 80 members this year./.
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