Delaware public benefit corporation

The acquisition is said to have caused nearly VND6.6 trillion ($284.4 million) in losses to the state budget. Former Minister of Information and Communications Nguyen Bac Son is at Hanoi People's Court, December 16, 2019. Photo by VnExpress/Giang Huy. The trial in the Hanoi People's Court will hear the case against 14 defendants, including former executives of state-owned telecom giant MobiFone and private pay TV firm Audio Visual Global (AVG), and is scheduled to continue through the weekend until December 31. Son and Tuan are charged with "violating regulations on the management and use of public capital that led to serious consequences" and "taking bribes." Both were arrested in February and expelled from the Communist Party in October. Son, information minister from 2011 to 2016, was retroactively dismissed from the position in October last year. Tuan, information minister from 2016, was suspended from his position in July last year and dismissed in a secret … [Read more...] about Former ministers in the dock over illegal acquisition of private TV firm

The highlight of Vsmart TVs is the use of the copyrighted Android operating system directly from Google, providing attractive features such as Google Music, Google Play Games and the possibility of installing more than 5,000 applications on the Google Play store. — Photo courtesy of Vingroup Vinsmart Research and Manufacture JSC - a member of conglomerate Vingroup - launched its five first smart TV models on Saturday. The five Vsmart TV models are produced at a factory complex in Hoa Lac Hi-Tech Park. In the first generation, Vsmart TVs are divided into two main lines to flexibly meet the needs of consumers, including the high-end KE product line with an ultra-thin screen border and three-sided edge-to-edge metal design, while the KD product line retains the edge-to-edge style but is more balanced in terms of design and optimisation for visual and content experience. With a contemporary design style, Vsmart TVs will be sized from 43 to 55 inches and designed with 4K resolution … [Read more...] about Vingroup’s first smart TV models make debut

Vietnam's top watchdog has announced the findings of its investigation into state-run MobiFone’s acquisition of pay TV firm AVG, which caused a loss of over $310 million to the state. According to the Government Inspectorate, the Ministry of Information and Communications had violated the Investment Law by approving MobiFone’s acquisition of AVG without the Prime Minister’s approval. The ministry approved the deal despite the fact details of the price of the 95 percent stake in the TV operator and the project’s investment efficiency had not been fully assessed, the inspectorate added. The ministry reported to the Prime Minister and relevant agencies that 30 percent of funding for MobiFone’s acquisition of AVG was expected to come from the telco’s own equity, and the rest from loans. However, funding for the project was not clearly identified when the ministry approved the acquisition. In fact, 100 percent of funding for the acquisition came from … [Read more...] about Multiple ministries responsible for ‘illegal’ state telco acquisition of pay TV firm: watchdog

Fuel price stabilisation fund helps the central government manage domestic fuel price in a foreseeable future. The new Government Decree 83, which oversees regulations on fuel trading in the country, will continue to sanction the controversial fund. Fuel traders and transport companies have argued that the fund, which is funded by fuel consumers for the most part and therefore effectively adds to fuel price, delivers little to no benefits for traders and consumers alike. In addition, it also creates a gap between the domestic price for fuel and that of the international market which may encourage certain fraudulent activities and cross-border smuggling. The Government, however, has always maintained that the fund serves as a tool to manage domestic fuel price and is a necessity to make sure the interests of consumers and businesses are protected. The fund is part of an effort to keep fuel price in line with market mechanisms under the State management and help control inflation and … [Read more...] about VN to continue support for fuel price fund

Tetra Pak, in collaboration with its partners, kicks off School Recycling program to involve 800 primary schools and kindergartens in 16 districts of Hanoi The Company also aims to expand this initiative to Da Nang and Binh Duong in 2020. School Recycling is the first-ever, large-scale program to segregate, collect and recycle used cartons in Hanoi under partnership with Hanoi’s Department of Natural Resources and Environment and Hanoi’s Department of Education and Training as well as Tetra Pak’s partners including Dong Tien Paper Factory, Lagom, NHC and Vinamilk. Participating the program, schoolchildren are instructed the simple steps of unfolding four corners of used cartons, flattening and placing them into dustbins for collection. The used carton packages are then collected periodically every two weeks by Lagom and transported to Dong Tien Paper factory to be materials for the production of such useful products as notebooks, bio-roof panels, etc. … [Read more...] about Tetra Pak initiates School Recycling to 800 primary schools and kindergartens in Hanoi