An Echelon Media Company
Sunday December 4th, 2022

Vietnam city in Covid-19 lockdown, airport shut after Coronavirus surge, stocks plunge

VIETNAM: Vietnam avoided stimulus mania and instead focused on contact tracing, quarantine and helping distressed citizens and businesses.

ECONOMYNEXT – Vietnam locked down a city and closed a regional airport and ordered nation-wide caution, after 82 Coronavirus cases were discovered in the worst Covid-19 outbreak from the community while stocks plunged.

Prime Minister Nguyen Xuan Phuc ordered the Chi Linh City of Hai Duong province locked down for 21 days and public transport out of the city to halted and mass testing to begin.

Residents were asked to stay at home, but they could go out to buy food, medicine, hospital or go to factories and essential services that were operating.

All schools, public activities, entertainment facilities, any events with crowd and nonessential service activities were halted.

On January 27 and 28, 72 cases were found at POYUN factory at Cong Hoa Industrial Park, in Chi Linh City. Contact tracers then found 11 security staff at Van Don international airport in Quang Ninh province.

The airport was ordered closed from 1200hours on January 28.

Heads of all cities and provinces were asked to review and tighten epidemic prevention measures and lockdown or isolate areas based on the level of risk.

The Ho Chi Minh Stock Exchange (HoSE) plunged 3.43 percent with 413 falling and 64 stocks hitting the maximum daily intra-day loss of 7 percent. During the day 785.7 million shares were traded.

The Ha Noi Stock Exchange (HXN also fell 3.09 per cent, with 146 million shares traded, Vietstock, a financial news portal reported.

Vietnam had previously controlled two outbreaks in Da Nang and a smaller one in Ho Chi Minh City and is one of the fastest growing countries in the world.

Related

Vietnam among fastest to grow in the world, IMF says after refusing to ‘live with Covid-19’

Sri Lanka stock market overtakes Vietnam, trails Venezuela

Ha Noi stock exchange was the best performing market shortly before Sri Lanka became overtook it.

The outbreak comes as Vietnam is getting ready to celebrate Tet, the traditional New Year.

The cases were discovered after a traveler to Japan was found positive.

Deputy Prime Minister Vu Duc Dam, who heads Vietnam’s anti-Covid task force, was quoted as saying that 4,000 sample tests and produced 72 cases.

More cases are expected. In Quang Ninh samples up to F3 were taken.

He said due to the long gap without cases authorities had got complacent.

Local authorities were asked to be alert and blockade or isolate if necessary.

Border controls were ordered to be tightened. Vietnam had recently found an infected person among those who were walking across borders.

“On behalf of the National Steering Committee, we urge all people to agree,” he said. “Blockade is extremely inconvenient but we cannot do otherwise. If we do well, with good control we can turn it around and it is possible to return to normal.

“But if we are not determined from the beginning, we are afraid of difficulties and suffering, we cannot predict the consequences.

Deputy Prime Minister was quoted in the media as saying authorities should be ready to trace 30,000 contacts.

On January 28, the Ministry of Health issued an urgent notice for people who had gone to 31 locations in Ha Noi, Hai Duong, Hai Phong and Quang Ninh areas to contact health authorities immediately as the tracing operation got under way.

I. Hai Duong:

1. Date 17/1: Chu Van An Primary School, Sao Do, Chi Linh

2. Date 23-24: Wedding at Que Linh village, Thuong District, Kinh Mon

3. Date 23/1: Wedding at Hoang Tan, Dao Xa village, Chi Linh

4. Date 24: Wedding in Ngu Uyen village, Long Xuyen, Kinh Mon

5. Date 20-26: Residential markets of Duong Nham, Pham Thai, Kinh Mon

6. Date 20-22 and January 24-25: Hoang Tien, Hoang Tien, Chi Linh Market

7. Date 23: Con Son General Clinic, Highway 37, Cong Hoa, Chi Linh

8. Date 23/1: Mushroom hotpot Tran Pho, Sao Do, Chi Linh

9. Date 23-24: Supermarket Lan Chi, Kinh Mon

10. Date 23-24: Supermarket Lan Chi, Sao Do, Chi Linh

11. Date 23/1: Cuong Na, De Term, An Sinh, Kinh Mon grocery store

12. Date 24/1: Sao Do Market, TT. Red Star, Chi Linh

13. Date 24/1: Mobile World Store, 50m from Sao Do intersection, towards Hai Duong

14. Date 24/1: Mother and baby shop, Ben Bath, Chi Linh

15. Date 24/1: Tea Chanh shop 1975, number 233 Nguyen Trai, Sao Do, Chi Linh

16. Date 25/1 Tien Huyen Pharmacy, opposite An Sinh market, An Sinh, Kinh Mon

17. Date 25/1 Hung Nhung Pharmacy, 110 Huu Nghi Street, Chi Linh

18. Date 26/1 Hai Duong Clinic, Sao Do, Chi Linh

19. Date 26/1 Joint Stock Commercial Bank for Foreign Trade of Vietnam, No. 119, Nguyen Trai, Sao Do, Chi Linh

20. Date 26/1 Thi Xuyen Pharmacy, Nguyen Trai, Sao Do, Chi Linh

21. Date 27/1 Thanh Tan Market, Le Loi, Chi Linh

22. Date 27/1 Khe Khau Market, Van Duc, Chi Troi

23. Date 27/1: An Sinh Market, An Sinh, Kinh Mon

II. Hai Phong

24. Date 25: Hai Phong Children’s Hospital

III. Quang Ninh

25. Date 18-21h on January 21: Trung Son restaurant, Van Don

26. Date 23: Vinmec Ha Long General Hospital, 10A Le Thanh Tong, Hong Gai, Ha Long City

27. Date 23: Golden Gate Frog Hotpot Restaurant II, 68 Zone 9, Cai Rong Town (200m from Cai Rong Port)

28. Date 24: Bac Ma Market, Binh Duong Commune, Dong Trieu Town

29. From January 15-28: Passengers on flights departing from Van Don Airport and arriving at Van Don Airport

IV. Hanoi

30. Date 20: Wedding in Xuan Duong village, Kim Lu commune, Soc Son

31. Date 21: The death anniversary at Xuan Duong village, Kim Lu commune, Soc Son

Suggestions:

– Contact the nearest medical authority for advice and support;

– Hotlines to call

+ 1900.9095 (Ministry of Health)

+ 0969.082.115 / 0949.396.115 (Hanoi Center for Disease Control)

+ 0988,123,951 (Hai Duong Center for Disease Control)

+ 0903.265.275 (Center for Disease Control in Hai Phong province)

+ 0979.362.473 (Center for Disease Control in Quang Ninh province)

– Online medical report at https://tokhaiyte.vn and regular health status updates.

– Install Bluezone application to be alerted to the risk of COVID-19 infection: https://www.bluezone.gov.vn

(Colombo/Jan28/2021)

Leave a Comment

Your email address will not be published. Required fields are marked *

Leave a Comment

Leave a Comment

Cancel reply

Your email address will not be published. Required fields are marked *

Paris Club proposes 10-year moratorium on Sri Lanka debt, 15 years of debt restructuring

ECONOMYNEXT — The Paris Club group of creditor nations has proposed a 10-year debt moratorium on Sri Lankan debt and 15 years of debt restructuring as a formula to resolve the island nation’s prevailing currency crisis, India’s The Hindustan Times reported.

While the Paris Club has yet to formally reach out to India and China, Colombo has yet to initiate a formal dialogue with the Xi Jinping regime, the newspaper reported on Saturday December 03, inferring that the chances of the International Monetary Fund (IMF) approving its 2.9 billion dollar extended fund facility for Sri Lanka in December now ranges from very low to nonexistent.

“This means that Sri Lanka will have to wait for the March IMF meeting of the IMF before any aid is extended by the Bretton Woods institution,” the newspaper reported.

“Fact is that for Sri Lanka to revive, creditors will have to take a huge hair cut with Paris Club clearly hinting that global south should also take the same cut as global north notwithstanding the inequitable distribution of wealth. In the meantime, as Colombo is still to get its act together and initiate a dialogue and debt reconciliation with China, it will need bridge funding to sustain the next three month before the IMF executive board meeting in March 2023. Clearly, things will get much worse for Sri Lanka before they get any better—both economically and politically,” the report said. (Colombo/Dec04/2022)

Continue Reading

Sri Lanka’s Ceylon tea prices up amid low volumes

ECONOMYNEXT – Sri Lanka tea prices picked up at the last auction in November amid low volumes, brokers said.

“Auction offerings continued to record a further decline and totalled 4.2 million Kilograms, of which Ex-Estate offerings comprised of 0.6 million Kilograms. There was good demand,” Forbes and Walker Tea brokers said.

“In the Ex-Estate catalogues, overall quality of teas showed no appreciable change. Here again, there was good demand in the backdrop of extremely low volumes.”

High Growns

BOP Best Westerns were firm to 50 rupees per kg dearer. Below best and plainer types were Rs.50/- per kg easier on last.

Nuwara Eliya’s were firm.

BOPF Best Westerns were firm to selectively dearer. Below best and plainer teas declined by 50 rupees per kg.

Uva/Uda Pussellawas’ were generally firm and price variances were often reflective of quality with the exception of Select Best Uva BOPF’s which were firm and up to 50 rupees per kilogram dearer.

CTC teas, in general, were mostly firm.

“Most regular buyers were active, with perhaps a slightly more forceful trend from the local trade,” brokers said.

Corresponding OP1’s met with improved demand. Well-made OP/OPA’s in general were fully firm, whilst the Below Best varieties and poorer sorts met with improved demand. PEK/PEK1’s, in general, were fully firm to selectively dearer.

In the Tippy catalogues, well-made FBOP/FF1’s sold around last levels, whilst the cleaner Below Best and cleaner teas at the bottom appreciated. Balance too were dearer to a lesser extent.

In the Premium catalogues, very Tippy teas continued to attract good demand. Best were firm to selectively dearer, whilst the Below Best and cleaner teas at the bottom appreciated

Low Growns

Low Growns comprised 1.8 million Kilograms. Market met with improved demand, in general.

In the Leafy & Semi Leafy catalogues, select Best BOP1/OP1’s were fully firm, whilst the Below Best/bolder BOP1’s were barely steady.

Low-grown teas, farmed mainly by smallholders and exported to the Middle East and Central Asia, are the most sought-after and expensive Ceylon Teas.

Low-grown CTC prices have gained this week to 982.80 per kilogram this week from 934.76 per kilogram last week.

Few Select best BOP1s maintained, whilst best and below best were irregularly lower. Poorer types maintained.

BOPF’s in general, firm market.

FBOPF/FBOPF1’s select best and best increased in value, whilst the below best and bottom held firm.

Selected best BOP1’s maintained, whilst best and below best were irregularly lower.Poorer types maintained.

OP1’s selects best together with best and below best were firm to dearer. Poorer sorts were fully firm.

Medium Growns

BOPF’s, select best gained by 50 rupees per kilogram. Others maintained.

BOP1’s select best dearer by 100 rupees per kg whilst all others moved up by 50 rupees per kg.

OP1: select best gained by 100 rupees per kg whilst all others dearer by 100 rupees per kg.

OP/OPA’s in general, dearer by 50 rupees per kg whilst the poorer sorts were firm.

PEK’s Select best gained by 50 rupees per kg whilst all others maintained. PEK1: In general, dearer by 50 rupees per kg. (Colombo/Dec 04/2022)

 

 

Continue Reading

Sri Lanka Ports Authority East Terminal contractor paid: Minister

ECONOMYNEXT – Sri Lanka’s Ports Authority had paid a deposit for a gantry crane and made the required payment for the contractor to complete building the East Container Terminal, Minister Nimal Siripala De Silva said.

The East Container Terminal, a part of which is already built is being completed as a fully SLPA owned terminal at a cost of 480 million dollars Ports and Shipping Minister de Silva said.

“ECT we are funding with money available in the ports authority,” he said.

“Up to now we have paid an advance for the gantry crane. And for the construction we have paid all the money agreed with the contractor. So that is going on well.”

Sri Lanka is undergoing the worst currency crisis in the history of the island’s soft-pegged (flexible exchange rate) central bank which has created difficulties in funding the project.

“Every penny we collect as dollars we are keeping them separately and utilizing that for the Eastern Terminal work,” Minister de Silva said.

“We are confident that the ECT will be completed within the envisaged time. It is a difficult task in view of the dollar problem.

Banks were also not releasing the dollar deposits of the SLPA earlier but are now doing so, he said.

“Our deposits in banks they have utilized for urgent other national purposes,” he said.

“So they are releasing that money slowly. I am happy that they are releasing that money little by little. So with that we will be able to manage that.”

Continue Reading