Toyota Motor said Wednesday it will recall about 550,000 units globally, including Lexus models, because of a potentially faulty crankshaft pulley that could cause noise and make steering more difficult. A Toyota spokeswoman told AFP that the company had logged 79 complaints worldwide over the defect, but the company said it had received no reports [...]
At this point of time investors UK-based Technostar Management and Russia’s Telloil Group at central Phu Yen province’s $1.7 billion Vung Ro oil refinery project still could not pick an engineering-procurement-construction (EPC) contractor to kick-off construction of the oil plant, according to a relative source. The investors recently undertook with Phu Yen management authorities to [...]
Electricity rates will remain unchanged this month, Deputy Prime Minister Hoang Trung Hai said in an interview with local press on November 7. Recently, Electricity of Vietnam (EVN) proposed an increase in power prices to start in November. Accordingly, average power prices will be raised from VND1,242 ($0.59) per kWh to VND1,403 ($0.67 ) per [...]
Some foreign shipping agents have decided to refuse to carry cold containers from Vietnam after the two reefer container explosions at Tan Cang – Cat Lai port in April 2011. The Cat Lai port on November 4 held a meeting with the representatives of the shipping firms relating to the notices from the ports in [...]
The decision to increase the minimum wage two months earlier than initially planned has raised big worries to businesses, especially the labor intensive industries such as garment and footwear. Garment and footwear producers have been put on tenterhooks, because they fear they may lose a lot of orders at the end of 2011 and early [...]
Metfone, a Cambodia-based affiliate of the Vietnamese military-run telecom group Viettel, won the “Best operator in a developing market” award at the World Communication Awards 2011 ceremony held in London on November 7. The award aims to honour operators who possess innovative and unique solutions and overcome difficulties of a developing market to bring values [...]
Representatives of businesses in Ho Chi Minh City met with their counterparts from the Grand Duchy of Luxembourg on November 9 in the city, where a municipal official called for investment from the western European country. The meeting was held by the municipal Business Association to prepare for Luxembourg Grand Duke Henri’s working visit to [...]
A week-long promotion of Vietnamese goods has been launched at Hyper Casino Italie in Paris on November 9. It aims to strengthen cooperation between Vietnamese suppliers and the supermarket chain under Groupe Casino and other supermarkets in Europe. Visitors to the supermarket are introduced to Vietnam’s key products including rice, shrimp, lotus tea, cuttle-fish, basa fish, [...]
Data from the General Statistics Office (GSO) showed that in the economic crisis in 2009, Vietnam’s industry sector grew only 7.1% against 2008 and started to recover in 2010 and regained growth of 9.3% on year. Vietnam’s industry growth rate in 2011 is facing many difficulties, Pham Dinh Thuy, head of the GSO’s Industry and [...]
The Ministry of Industry and Trade has requested Vietnam Coal and Mineral Industry Group, or Vinacomin, to reassess the economic efficiency of Tan Rai alumina project in Lam Dong Province. The reassessment is to clarify the transparency of the investments in upgrading the roads to transport alumina from the production site to the seaport for [...]
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