Former Khanh Hoa deputy chairman arrested for land violations

A former deputy chairman of Khanh Hoa Province was arrested Thursday for handing over land plots to businesses without bids, costing the state hundreds of billions of dong (VND1 billion = $43,000). Dao Cong Thien, 59, was arrested by the Khanh Hoa anti-corruption police to be investigated for violating land management regulations. Vo Tan Thai, […]

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Arrest of former Director of Construction Department on Bribery!!

KHANH HOA – Like the former leaders of Khanh Hoa province who were prosecuted before, the former director of this province’s Department of Construction was arrested on charges of making a mistake when allocating land to businesses “causing budget loss.” According to Tuoi Tre newspaper, on the afternoon of September 17, the Khanh Hoa Provincial Public […]

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After sanctions, Huawei turning to businesses less reliant on high-end U.S. tech

© Reuters. Huawei logo at Huawei Technologies France in Boulogne-Billancourt By David Kirton SHENZHEN, China (Reuters) -Chinese telecoms equipment maker Huawei Technologies is making business resilience its top priority with a push to develop its software capabilities as it seeks to overcome U.S. restrictions that have devastated its smartphone business. Huawei was put on an […]

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Fed’s Powell: U.S. economy at an ‘inflection point’ – CBS ’60 Minutes’

2/2 © Reuters. FILE PHOTO: Chair of the Federal Reserve Jerome Powell listens during a Senate Banking Committee hearing in Washington 2/2 By Dan Burns and Howard Schneider (Reuters) – The U.S. economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also risks […]

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Italy’s economy seen growing 4.1% this year, business lobby says

© Reuters. Outbreak of the coronavirus disease (COVID-19) in Rome ROME (Reuters) – Italy’s virus-hit economy is expected to grow 4.1% this year and 4.2% in 2022 in an “uncertain ascent from the abyss”, the country’s business lobby Confindustria said on Saturday. The Italian economy shrank by a post-war record of 8.9% last year, and […]

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Elon Musk’s Neuralink shows monkey with brain-chip playing videogame by thinking

2/2 © Reuters. FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard at the E3 gaming convention in Los Angeles 2/2 (Reuters) – Billionaire entrepreneur Elon Musk’s brain-chip startup released footage on Friday appearing to show a monkey playing a simple videogame after getting implants […]

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Hedge fund Melvin Capital lost 49% on its investments in Q1 -source

BOSTON (Reuters) -Melvin Capital, the hedge fund at the center of the GameStop (NYSE:) trading frenzy, lost 49% on its investments during the first three months of 2021, a person familiar with the matter said on Friday. The fund, founded by Gabe Plotkin, lost 7% in March, the source added, speaking on condition of anonymity. […]

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Spain cuts 2021 growth forecast to 6.5% after first-quarter contraction

© Reuters. FILE PHOTO: Informal Meeting of Ministers for Economics and Financial Affairs in Berlin By Belén Carreño and Nathan Allen MADRID (Reuters) – Spain’s government slashed its forecast for this year’s economic recovery on Friday to reflect a COVID-induced contraction in the first quarter and expected delays to the arrival of EU rescue funds. […]

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Asia shares set for choppy session after S&P 500 hits record high

© Reuters. FILE PHOTO: A man walks past a stock quotation board at a brokerage in Tokyo, Japan By Chibuike Oguh (Reuters) – Asian equities are set for a choppy trading session on Friday after technology stocks lifted the to a new record even as investors weighed an unexpected rise in the number of Americans […]

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Cut the debt of poor countries, Pope tells IMF, World Bank

© Reuters. Pope Francis holds weekly audience VATICAN CITY (Reuters) -Pope Francis has told world financial chiefs that poor countries hit by the economic impact of the coronavirus need to have their debt burden reduced and be given a greater say in global decision making. In a letter to the participants of the International Monetary […]

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