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HANOI, May 29 () -- The Vietnam Business Forum (VBF) 2012 was open in Vietnamese capital Hanoi on Tuesday, with participation of representatives from the private economic sector consulting with the Vietnamese Government on improving the local business and investment environment.Participants to the conference, held under the theme, "From economic stabilization to economic recovery", discussed on infrastructure, capital markets, trade and investment, finance, banking and education.Addressing the opening ceremony, Vietnamese Minister of Planning and Investment (MPI) Bui Quang Vinh, and the World Bank's Country Director in Vietnam, Victoria Kwakwa, said that in the context that Vietnam's macro economy met with instability, the Vietnamese Government issued Resolution 11 with effective measures to curb inflation, stabilize macro economy and ensure social security. With support from international organizations and business circles, Vietnam has achieved initial positive results.Vietnam has attached importance to stabilizing the macro economy, for sustainable development and environmental protection rather than the goal of high economic growth, said the MPI official, adding that the Forum will be a continual and close dialogue channel between the Vietnamese government and international and domestic business circles to improve the necessary business conditions, facilitate the private sector's development, and favor the investment environment, contributing to Vietnam's sustainable economic growth.Vietnam should further strive in improving the long-term attractiveness of the domestic market so as to lure more foreign investment, said Preben Hjortlund, president of the European Business Chamber of Commerce (EuroCham) in Vietnam.For an economy of sustainable development, Vietnam should make as soon as possible renewals in economic, financial and educational fields. To attract more and better quality foreign investment this year, the Government should remove the shortcomings during the market access process that would affect the free trade, he suggested.Mark Gillin, vice president of American Chambers of Commerce ( AmCham) in Vietnam informed participants about the positive trade and investment between Vietnam and the United States in recent years. Two-way trade turnover increased sharply, from 1.5 billion U.S. dollars in 2001 to over 22 billion U.S. dollars in 2011.Vietnam should create a "playing ground" to bring into full play its potentials. Transparency is an essential factor, along with a truly renovation process aimed at attracting more foreign investment, said the AmCham official.The forum is very important because of the shift in the management role in the VBF. Previously, it was hosted by the International Finance Corporation, the World Bank and Ministry of Planning and Investment. But from now on, the management role will be transferred to the private sector and include representatives from 14 organizations and associations both domestically and internationally, said Vu Tien Loc, chairman of Vietnam Chamber of Commerce and Industry (VCCI), also co-chairman of the VBF.
by Jawad HussainKARACHI, May 17 () -- Equities at Pakistan's Karachi Stock Exchange (KSE) recorded second straight bearish day here Thursday as investors remained on the selling side following supply of negative news from the euro zone where Greece is heading for an election on June 17, 2012.The benchmark KSE 100-Index scrolled lower by 0.13 percent or 17.99 points to close at 14,063.08 levels as against closing of 14, 081.07 levels recorded on Wednesday.The KSE All Share Index inched down by 0.06 percent or 6.17 points to end at 9,875.69 levels, the KSE 30-Index moved down marginally by 0.02 percent or 2.48 points to conclude at 12,274.18 levels, whereas the KMI 30-Index dipped by 0.05 percent or 13.37 points to finish the day at 24,337.43 levels on Thursday.Regional stock markets rebounded from their oversold terrains on Thursday and same was the case with the Karachi Stock Exchange as it got off to a positive start but like other regional equity markets it shed gains towards the fag end of the day.The KSE 100-Index regained 14,100 levels in the initial trade but a steep decline forced it languishing at its intraday lowest levels of 13,990.26.However, another buying spree then hit the exchange which propelled the main index to its highest level of the day of 14,152. 58 levels before the last-gasp selling made the main index to end in the red territory.Market analysts informed News Agency that the late selling spree reflected weak risk appetite among the investors.They further elaborated that the regional markets had the same trends to show on Thursday as they rebounded in the earlier part of the sessions before giving it away in the second half as investors still have butterflies in their stomach about the future of euro zone economies.They mentioned that US stocks and global oil prices also witnessed bearish trends amid choppy trade the other day with S& P500 reporting fourth straight bearish day as the reason was investors' concern over future of Greece as euro zone member.Gohar Rasool, Assistant Vice President at BMA Capital Management Limited, said, "The bounce from 20EMA failed to sustain amidst declining market sentiment and increasing selling pressure. With no immediate support in sight a test of 23.6 percent Fibonacci retracement (13,777.65) and 50EMA (13,769.20) can't be ruled out".Market volumes dropped by 2.945 million shares to 143.055 million shares on Thursday as against trading of 146 million shares recorded on Wednesday as local investors still fearing a foreigners' exodus thus staying away from the trading activities.Market capitalization reduced by 3.471 billion rupees (38.569 million U.S. dollars) to 3.593 trillion rupees (39.93 billion U.S. dollars) on Thursday when compared with market capitalization worth 3.597 trillion rupees (39.968 billion U.S. dollars) reported the other day.In broader market, a total of 384 companies changed hands during the course of the day where prices of 170 issues advanced, 140 declined, whereas values of 74 other scrips stayed unchanged at previous day's levels.
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Special Report:2010 FIFA World Cup South Africa MADRID, June 7 () -- Spain's Secretary of State for Sport Jaime Lissavetzky admitted on Monday that he was optimistic over his country's chances of adding the World Cup to the European crown it won two years ago. Spain travels to South Africa as one of the favorites for the competition and Lissavetzky believes his country has never had a stronger side. "It's a fantastic side and you don't worry about one player getting injured, because we have got two players for every position," he said in an interview reproduced in sports paper Marca. Spain has not played at its best in its two warm-up matches, needing late goals to defeat Saudi Arabia 3-2 and South Korea 1-0. They play their final preparation game in the city of Murcia against Poland on Thursday and Lissavetzky believes the rivals have been well chosen. "They are all very hard working sides. We have to get through the first phase in the World Cup, which we are going to do, and then there is no room for mistakes," he said, looking at Spain's rivals in the group stage. "Switzerland and Honduras look to be quite easy, while the game against Chile will be more complicated, because there we could decide the first place in the group. "We can be world champions, we have to be confident in being up there and at the moment we are not scared of playing anyone and we have a great team," he added.
Lu Budong, a member of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), speaks during the second plenary meeting of the Fifth Session of the 11th CPPCC National Committee at the Great Hall of the People in Beijing, capital of China, March 9, 2012. (/Pang Xinglei)BEIJING, March 9 () -- Following are some quotes on land premiums from Lu Budong, a political advisor and member of the China National Democratic Construction Association, at the annual session of the Chinese People's Political Consultative Conference (CPPCC) National Committee on Friday:-- The government should tell the public clearly on how much land premiums it has collected, how they have been used and whether they are used properly or not.-- We should let farmers who have lost their land participate in the distribution of land premiums by legal means. Land premiums must be first used in guaranteeing the basic social security on pension, employment and health care for those farmers.-- The collection of land premiums for 70 years all at once leads to massive corruption, extravagance, vanity projects and injustice in income distribution. It's a way to build temporary prosperity at the cost of the future. Special Report: NPC, CPPCC Annual Sessions 2012
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MAPUTO, July 11 () -- The South Korean Prime Minister Kim Hwang-Sik arrived in the Mozambican capital Maputo on Wednesday for a two-day visit and was welcomed by the his counterpart Aires Ali with objective of strengthening relations between the two governments.The South Korean government will invest in the energy sector and open a Samsung branch in Mozambique's territory, the Mozambican Deputy Minister of Foreign Affairs Henrique Banze said on Wednesday."Cooperation between Mozambique and South Korea will witness a new moment following South Korea's interest to invest in hydrocarbons (natural gas) and also open a Samsung branch in the national territory," Banze told journalists.He added that Mozambique plans to cooperate with South Korea in other areas of great importance namely education, science and technology including the business sector where it will create business partnership, Radio Mozambique reported.Bilateral cooperation between Mozambique and South Korea date back after the Mozambique's independence and focused lately particular in the domain of science and technology.Banze said that Mozambique wants to learn from the South Korea's experience because it was underdeveloped once as Mozambique, with limited potential in local production however through its knowledge it developed a lot.While in Maputo Kim will be meeting with the President Armando Guebuza.
ISTANBUL, March 31 () -- Turkish Prime Minister Recep Tayyip Erdogan had a closed-door meeting with Syrian opposition group Syrian National Council's chairman Burhan Ghalioun here on Saturday.The meeting was held closed to news media and lasted about one and a half hours, Turkish semi-official Anatolia news agency reported, without giving any detail about the topic at the meeting.This is the first time that the Turkish prime minister met the head of the Istanbul-based Syrian opposition group, Anatolia said, adding that Turkish Foreign Minister Ahmet Davutoglu and National Intelligence Organization chief Hakan Fidan also attended the meeting.Turkey is set to host a so-called "Friends of Syria" meeting in Istanbul on Sunday. More than 70 countries are expected to send representatives to the meeting to seek an international agreement on how to end the violence in Syria.Turkish Prime Ministry Disaster and Emergency Management Directorate (AFAD) said Saturday that the number of Syrian citizens who fled to Turkey reached 18,158, including 9,186 in Hatay province, 2,731 in Gaziantep province and 6,188 in Kilis province.Related:World parliamentarians to discuss Syria crisis at IPU summit in UgandaKAMPALA, March 31 () -- World parliamentarians meeting here in the Ugandan capital Kampala for the 126th Inter Parliamentary Union (IPU) assembly are set to discuss the Syrian crisis, a conference spokesman said on Saturday.Lulume Bayiga told in an interview that several countries submitted proposals in which they demanded that the Syria crisis be discussed as an emergency. Full storyIranian deputy FM vows support to Syrian leadershipBEIRUT, March 31 () -- A visiting Iranian deputy foreign minister said here Saturday that Iran "would not spare any effort to" support the Syrian leadership."The Islamic Republic of Iran would not spare any effort to embrace the Syrian Arab Republic and support its leadership, regime and people in the direction that would preserve its resistance role against aggression and the Zionist state," Hussein Amir Abdollahian, Iranian deputy foreign minister for Arab and African affairs, said after a meeting with Lebanese Foreign Minister Adnan Mansour on bilateral and regional issues.? Full storySyrian pilot flees to JordanAMMAN, March 31 () -- A Syrian pilot fled to Jordan Saturday morning, Amman-based Khaberni news website reported.The pilot, who crossed the barbed wires on the border line between Jordan and Syria, left his helicopter on the Syrian territories, according to Khaberni.? Full story
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