Latest news with #KhanhVu
Japan Today
6 days ago
- Climate
- Japan Today
Severe floods triggered by storm Wipha kill at least 3 in Vietnam's Nghe An
By Khanh Vu Heavy rains triggered by tropical storm Wipha have caused severe flooding in the central Vietnamese province of Nghe An, killing at least three people and leaving one more missing. With a long coastline facing the South China Sea, Vietnam is prone to typhoons that often cause deadly floods and mudslides. Wipha is the first major storm to hit the country this year. Wipha made landfall in Vietnam on Tuesday, after battering Hong Kong and China and worsening monsoon rains and flooding in the Philippines. One of the victims was buried by a landslide while another was washed away by a strong current, reported the Kinh Te Moi Truong newspaper, citing information from the People's Committee of Nghe An. More than 3,700 houses in the province have been inundated by flood waters, and another 459 were damaged by strong winds, according to the report. Photos on state media show homes in villages in the province submerged to the roofs. "Our rice, our clothing and our money are all gone," Dang Thi Ngoc, a local flood victim, told state broadcaster VTV. "We have nothing left except for our bare hands." Flood waters have also damaged 1,600 hectares of rice plantations and 1,290 hectares of cash crops in the province, the report said. The government's weather forecast agency said heavy rains reaching up to 250 millimetres are expected on Thursday and Friday and could last until Saturday in several parts of northern Vietnam, potentially causing more flooding. © (c) Copyright Thomson Reuters 2025.
Yahoo
07-05-2025
- Business
- Yahoo
Vietnam Airlines says it has rerouted flights due to India-Pakistan tensions
HANOI, (Reuters) - Flag carrier Vietnam Airlines has rerouted around 10 flights between Vietnam and European countries including Germany, France and England to avoid Pakistani airspace, it said on Wednesday, after tensions flared between India and Pakistan. "Flights between Vietnam and Europe will likely continue to be rerouted over the next days, depending on the regional situation," the airline said. Budget airline Vietjet said it had not been affected by the tensions. (Reporting by Khanh Vu; Editing by Martin Petty, Ewan Harwood and Jan Harvey)
Yahoo
17-04-2025
- Business
- Yahoo
Cut shifts or ramp up output? Vietnam's exporters face dilemma amid tariff chaos
By Francesco Guarascio and Khanh Vu HANOI (Reuters) - Some factory workers in Vietnam have been told to increase output of products for the U.S. market, while others have had their shifts cut to three per week as U.S. orders were postponed or cancelled, industry executives said. The radically diverging strategies, largely the result of shifting U.S. orders, show the chaotic reaction of exporters in the Southeast Asian industrial hub, which was slapped by the Trump administration with 46% tariffs before most duties were paused until July. "Factories change their production plan and human operations too, dividing work shifts to Mon-Wed-Fri and Tue-Thu-Sat instead of working full time, as huge orders are on hold," said Calvin Nguyen, the head of Vietnamese logistics firm WeDo Forwarding. He cited three companies producing garments, shoes and agricultural goods that changed their work plans because orders were postponed even after U.S. President Donald Trump paused "reciprocal" tariffs on April 9. Two business surveys and another three industry sources confirmed cost-cutting measures by companies in Vietnam and foreign firms' pausing of investments. Vietnam is a major exporter of footwear and apparel to the United States - manufactured by dozens of suppliers to large multinationals, such as Nike, Adidas and Gap. A survey of 183 European businesses in Vietnam conducted by the European chamber of commerce from April 4-9 found most were considering cuts in response to tariffs, including workforce reduction and downsizing operations. POWERING DOWN In the electronics sector, which represents the largest share of Vietnam's multi-billion-dollar exports to the U.S., top investor Samsung Electronics briefly ramped up production before tariffs kicked in, two workers said, and is considering adjusting production. South Korea's LG Electronics, a maker of home appliances, suspended production of refrigerators at its factory in northern Haiphong city, according to a survey conducted by local authorities and posted online last week before being deleted. The survey results, which were still visible on local media on Thursday, also showed LG had stopped investing in expanding microwave oven production at that factory. A spokesperson for LG Electronics said the company was monitoring the situation in Vietnam and managing production "flexibly". The survey found that in the Haiphong area, the company most affected by possible 46% tariffs would be Taiwanese electronics manufacturer Pegatron, which did not reply to a request for comment. However, as tariffs are paused, Pegatron is boosting its output. "In the next three months, their production of U.S. products will rapidly increase," said a person briefed by Pegatron in Vietnam, declining to be identified because the information was not public. "Warehouses in the U.S. will be bursting with products in the months to come".
Yahoo
17-04-2025
- Business
- Yahoo
Cut shifts or ramp up output? Vietnam's exporters face dilemma amid tariff chaos
By Francesco Guarascio and Khanh Vu HANOI (Reuters) - Some factory workers in Vietnam have been told to increase output of products for the U.S. market, while others have had their shifts cut to three per week as U.S. orders were postponed or cancelled, industry executives said. The radically diverging strategies, largely the result of shifting U.S. orders, show the chaotic reaction of exporters in the Southeast Asian industrial hub, which was slapped by the Trump administration with 46% tariffs before most duties were paused until July. "Factories change their production plan and human operations too, dividing work shifts to Mon-Wed-Fri and Tue-Thu-Sat instead of working full time, as huge orders are on hold," said Calvin Nguyen, the head of Vietnamese logistics firm WeDo Forwarding. He cited three companies producing garments, shoes and agricultural goods that changed their work plans because orders were postponed even after U.S. President Donald Trump paused "reciprocal" tariffs on April 9. Two business surveys and another three industry sources confirmed cost-cutting measures by companies in Vietnam and foreign firms' pausing of investments. Vietnam is a major exporter of footwear and apparel to the United States - manufactured by dozens of suppliers to large multinationals, such as Nike, Adidas and Gap. A survey of 183 European businesses in Vietnam conducted by the European chamber of commerce from April 4-9 found most were considering cuts in response to tariffs, including workforce reduction and downsizing operations. POWERING DOWN In the electronics sector, which represents the largest share of Vietnam's multi-billion-dollar exports to the U.S., top investor Samsung Electronics briefly ramped up production before tariffs kicked in, two workers said, and is considering adjusting production. South Korea's LG Electronics, a maker of home appliances, suspended production of refrigerators at its factory in northern Haiphong city, according to a survey conducted by local authorities and posted online last week before being deleted. The survey results, which were still visible on local media on Thursday, also showed LG had stopped investing in expanding microwave oven production at that factory. A spokesperson for LG Electronics said the company was monitoring the situation in Vietnam and managing production "flexibly". The survey found that in the Haiphong area, the company most affected by possible 46% tariffs would be Taiwanese electronics manufacturer Pegatron, which did not reply to a request for comment. However, as tariffs are paused, Pegatron is boosting its output. "In the next three months, their production of U.S. products will rapidly increase," said a person briefed by Pegatron in Vietnam, declining to be identified because the information was not public. "Warehouses in the U.S. will be bursting with products in the months to come". Sign in to access your portfolio
Yahoo
26-03-2025
- Business
- Yahoo
Vietnam to cut tariffs on U.S. imports as Trump tariff decision looms
By Khanh Vu HANOI (Reuters) -Vietnam will cut its tariffs on several U.S. products including LNG and cars, the head of the Finance Ministry's tax policy department said, as the country tries to avoid being hit with U.S. tariffs because of its large bilateral trade surplus. The Southeast Asian industrial hub has taken a series of measures to reduce its trade surplus with Washington, which exceeded $123 billion last year, after U.S. President Donald Trump flagged wide-ranging tariffs on trading partners. Among the cuts, the tariff on American LNG will be cut to 2% from 5%, on automobiles to 32% from a range of 45% to 64%, and on ethanol to 5% from 10%, Nguyen Quoc Hung said in a statement posted on the ministry's website late on Tuesday. The tariff cuts are aimed at "improving trade balances with (Vietnam)'s trade partners," Hung said, adding that while the U.S. and Vietnam had a Comprehensive Strategic Partnership the countries had not signed a free-trade agreement. Vietnam has not yet imported LNG from the U.S., but the country has been in talks with U.S. suppliers for its future fleet of LNG power plants, the first two of which are scheduled to start commercial power generation by June this year. Hung said Vietnam will also remove its tariff on American ethane. He said the decree on the tariff cuts will be ready within this month and will take effect right after that. Other American imports that will have lower tariffs include chicken thighs, almonds, apples, cherries and wooden products. Trump is expected to apply reciprocal tariffs on several countries on April 2, although on Monday he said some countries might get breaks.
