Co.opmart Dinh Tien Hoang to close its doorsThe Saigon Times Daily Shoppers select vegetables at a Co.opmart store in HCMC - PHOTO: THANH HOA HCMC – A Co.opmart supermarket on Dinh Tien Hoang Street in HCMC’s Binh Thanh District, earning some VND2 billion in revenue per day from average traffic of 80,000 customers, will shut down on October 25 to hand over the premises as required by the landlord, reported Nguoi Lao Dong newspaper. The supermarket, owned by Saigon Union of Trading Cooperatives (Saigon Co.op), is in the process of being cleared, but the fresh produce section on the ground floor is still open for business, and customers are being instructed to move their shopping to neighboring Co.op supermarkets, stated Do Quoc Huy, marketing director of Saigon Co.op. Co.opmart Dinh Tien Hoang is one of the Co.opmart supermarket chain’s leading supermarkets, contributing significant revenue to the chain. Many of its customers were surprised by the empty … [Read more...] about Co.opmart Dinh Tien Hoang to close its doors
Corporate
Air Canada’s near miss last year was almost ‘worst accident in history’
The Air Canada Airbus A320 was cleared to land on Runway 28-Right at San Francisco International Airport shortly before midnight on July 7, 2017 -- but the pilot inadvertantly lined up in a taxiway where four planes were waiting to take off AFP/Daniel SLIM The Air Canada Airbus A320 carrying 140 people was cleared to land on Runway 28-Right at San Francisco International Airport shortly before midnight on Jul 7, 2017 - but the pilot inadvertently lined up for Taxiway C, where four planes were waiting to take off. "Only a few feet of separation prevented this from possibly becoming the worst aviation accident in history," said Bruce Landsberg, vice chairman of the National Transportation Safety Board while announcing the agency's report issued Friday. "The incident airplane descended to an altitude of 100 feet (30 meters) above ground level and overflew the first airplane on the taxiway," the report said. "The incident flight crew initiated a go-around, and the airplane reached a … [Read more...] about Air Canada’s near miss last year was almost ‘worst accident in history’
NS BlueScope Lysaght puts plant in Hanoi into operation
NS BlueScope Lysaght puts plant in Hanoi into operationBy Van Ly NS BlueScope Lysaght Vietnam’s plant in Quat Dong Industrial Park in Thuong Tin District, Hanoi City - PHOTO: NS BLUESCOPE LYSAGHT VIETNAM HANOI - NS BlueScope Lysaght Vietnam Co., Ltd., an arm of NS BlueScope as a joint venture between Australia-based BlueScope Steel Limited and Japan’s Nippon Steel & Sumitomo Metal Corporation, on October 12 announced to put its new plant in Quat Dong Industrial Park in Thuong Tin District, Hanoi City, into operation. However, the company did not unveil the investment and capacity of the plant. Nguyen Cao Tri, general director of NS BlueScope Lysaght Vietnam, said after 25 years operating in Vietnam, the company realized the northern region, with two big cities, Hanoi and Haiphong, together with multiple large industrial parks, is a potential market. Therefore, the firm decided to develop a plant there to supply its products to more projects. NS BlueScope … [Read more...] about NS BlueScope Lysaght puts plant in Hanoi into operation
Plastic surgeon buys top South Korea Bitcoin exchange
A consortium led by a prominent Seoul plastic surgeon purchased a controlling stake in South Korea's largest cryptocurrency exchange, reports said Friday (Oct 12). Bithumb is the biggest virtual currency exchange in South Korea, which has emerged as one of the world's top Bitcoin markets AFP/Jung Yeon-je The hyper-wired South has emerged as one of the world's top Bitcoin markets, at one point accounting for more than 20 per cent of global bitcoin transactions - about 10 times the country's share of the global economy. Singapore-based BK Global Consortium bought a 50-per cent stake plus one share in Bithumb, the country's biggest virtual currency exchange, from shareholder BTC Holdings for about 400 billion won (US$353 million), Yonhap news agency and other South Korean media said, citing industry sources. Bithumb has more than a million customers but suffered a devastating hacking attack in June that left more than US$30 million worth of cryptocurrency stolen. South Korean … [Read more...] about Plastic surgeon buys top South Korea Bitcoin exchange
BMW plans to take control of China joint venture
German luxury carmaker BMW announced Thursday (Oct 11) a plan to take control of its China joint-venture, the first foreign automaker to take advantage of Beijing's new ownership rules for the sector. German carmaker BMW is to take control of its China joint-venture with Brilliance China Automotive AFP/WANG ZHAO BMW will acquire a further 25 per cent stake in the venture with Brilliance China Automotive for €3.6 billion (US$4.2 billion), the company said, bringing its stake to 75 per cent by 2022. Foreign automakers have long been restricted to holding no more than a 50 per cent stake in their China operations, but Beijing decided to relax the ownership caps this year. The reforms are part of Beijing's plan to further open its economy to foreign business, after years of facing pressure from the United States and Europe. But US and European business groups say the reforms have still not gone far enough, and have pushed for further opening. To force the issue, and to hit … [Read more...] about BMW plans to take control of China joint venture