Mark Esper (left) is sworn in as US secretary of defense by Supreme Court Justice Samuel Alito as President Donald Trump looks on in the Oval Office. — AFP Photo WASHINGTON — Former soldier Mark Esper was sworn in as US secretary of defense Tuesday after earning Senate confirmation, filling America's longest-ever Pentagon leadership vacuum as Washington faces mounting tensions with Iran and struggles to end the long-running Afghanistan war. President Donald Trump's second Defense Department chief takes over nearly seven months after the shock departure of Jim Mattis, the deeply respected career US Marine who broke with Trump over policy on the Middle East and Afghanistan. Two others were made acting defense secretary this year to fill the void -- including Patrick Shanahan, who served a six-month temporary stint but resigned for family reasons in June and withdrew from consideration for the full-time top post. Esper sailed through the confirmation process at … [Read more...] about US finally gets new Pentagon chief as Senate confirms Esper
EuroCham’s strong support for deal
Nicolas Audier European enterprises and individuals investing in Vietnam want a stable, reliable, and rules-based trade and investment environment. Ever since the first Law on Foreign Investment in 1987, the government has made positive and progressive reforms to its legal framework to make Vietnam a more attractive place for international companies to do business. This has seen foreign direct investment (FDI) becoming the engine of Vietnam’s economic growth over the last three decades, a milestone we were honoured to celebrate along with other international chambers of commerce at the “30 Years of FDI Conference” in Hanoi last May. Just as FDI was the driving force behind Vietnam’s past economic growth, so it will also be the key to unlocking future trade and investment and assuring Vietnam’s international integration. The EU-Vietnam Investment Protection Agreement (EVIPA) is one of a raft of new-generation free trade agreements, including the … [Read more...] about EuroCham’s strong support for deal
Building a financial hub for Vietnam
Nguyen Thi Hong - Deputy Governor State Bank of Vietnam Ho Chi Minh City connects different key economic regions of the south and the whole country. The city, therefore, deserves to become a major financial centre with banking and finance services developed in a proper manner. To turn Ho Chi Minh City into an IFC, the policy differences between the city and Vietnam as a whole need to be reconciled. Banks are essential in the Vietnamese financial system, which is on the way to restructuring itself and integrating into the global playground. A perfect financial centre must be closely connected with the payment system. During recent times, the banking system has been speeding up cashless payments at an average growth rate of 30 per cent per year. This is a good foundation for developing an IFC, which requires the government to have a clear direction and local authorities to be more active. The State Bank of Vietnam has been consistent in this plan and looks forward to the establishment of … [Read more...] about Building a financial hub for Vietnam
Sun, Scott warned by FINA over world swim medal clash
FINA has warned China's Sun Yang and British rival Duncan Scott (right). — AFP Photo GWANGJU — China's Sun Yang and British rival Duncan Scott were rebuked by FINA on Tuesday following a heated exchange after Sun retained the 200 metres freestyle world title. Scott, who tied for bronze, refused to shake hands with Sun on the podium in Gwangju after the playing of the national anthem or join him and the other medallists on the top step to pose for photos. His snub, which follows a similar protest from Australian Mack Horton after losing to Sun in the 400m final at the weekend, sparked a furious reaction from Sun. The triple Olympic champion shook his fist at Scott before getting in his face, waving his finger at the Briton and barking: "You're a loser -- I win!" The Chinese giant has faced hostility from swimmers in South Korea after a leaked FINA doping panel report alleged he had used a hammer to destroy vials of his own blood after … [Read more...] about Sun, Scott warned by FINA over world swim medal clash
Nissan to cut 10,000 jobs worldwide: Report
Japanese car giant Nissan plans to cut more than 10,000 jobs around the world as part of efforts to turn itself around, Kyodo News agency said on Tuesday (Jul 23), citing company sources. Nissan to cut 10,000 jobs worldwide: Report, photo: AFP/File Toshifumi Kitamura The additional cuts come on top of the 4,800 jobs Nissan announced in May it was trimming from its global workforce of around 139,000. Nissan's net profit fell to a near-decade low in the last business year and it has already warned of "a difficult business environment" for the next 12 months. The company has been hit by a fall in sales in the United States and Europe and is still reeling after the shock arrest of former boss Carlos Ghosn on financial misconduct charges. It has also been facing tensions with its French partner Renault, which owns 43 per cent of the Japanese manufacturer, and is undergoing an overhaul intended to strengthen governance at the firm. Nissan is expected to announce the job cuts on … [Read more...] about Nissan to cut 10,000 jobs worldwide: Report