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☆ Vietnamese EV maker VinFast gets go ahead for Nasdaq SPAC listing
▼ + stars: | 2023-08-10 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

Shareholders of Hong Kong-based Black Spade Acquisition (BSAQ.A), a blank-check company, voted on Thursday to approve the merger with VinFast. VinFast, in a joint statement with Black Spade, said it would list on the Nasdaq under the ticker symbol VFS "on or around August 15". It leaves VinFast's existing shareholders, including parent company Vingroup and Vuong, Vietnam's richest man, with 99% of shares in the company. "The voting results today are a vote of confidence in VinFast from Black Spade shareholders," VinFast's global head Thuy Le said in the statement. Black Spade was founded by the private investment arm of Lawrence Ho, son of the late gambling mogul Stanley Ho.

Persons: Mike Blake, VinFast, Black Spade, Pham Nhat Vuong, Thuy Le, Nikola Corp, EVs, VinFast's, Vuong, Lawrence Ho, Stanley Ho, Phuong Nguyen, Kirsten Donovan, Susan Fenton Organizations: Los Angeles Auto, REUTERS, U.S, Nasdaq, of Hong, VinFast, Black, Black Spade, Faraday, Nikola, Vingroup, Tesla, Thomson Locations: Los Angeles , California, U.S, HANOI, of Hong Kong, VinFast, North Carolina, Black, United States, Haiphong, Vietnam

☆ Vietnamese EV maker discusses how it plans to compete on price and quality in the U.S. market
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVietnamese EV maker discusses how it plans to compete on price and quality in the U.S. marketVinFast CEO Le Thi Thu Thuy discusses the company's U.S. expansion strategy ahead of its groundbreaking ceremony for its electric vehicle factory in North Carolina.

Persons: Le Locations: U.S, North Carolina

☆ Vietnam's EV maker VinFast set to break ground on delayed U.S. factory
▼ + stars: | 2023-07-28 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

VinFast is set to break ground on its delayed U.S. factory on Friday. Vietnam's VinFast will begin construction on its electric vehicle factory in North Carolina on Friday morning local time, the Vietnamese automaker confirmed with CNBC. VinFast vehicles do not currently qualify because they are not built in the country, but are built in Vietnam. The company is also pricing its VF 9 model at a considerable discount to the comparable Tesla Model X. A Tesla Model X costs about $100,000.

Persons: VinFast, Le, CNBC's, Vietnam's VinFast, — CNBC's Penny Chen Organizations: EV, Thuy, CNBC, U.S, Tesla, headcount, Spade Locations: U.S, North Carolina, Vietnam

☆ Encarnacao shines as Portugal beat Vietnam 2-0 for first World Cup win
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +3 min

Portugal coach Francisco Neto made seven changes to the team that lost 1-0 to the Netherlands in their Group E opener and the decision paid off as first-half goals from Encarnacao and Francisca Nazareth earned them a first ever World Cup win. In stark contrast to their struggling display against the Netherlands, Portugal dazzled under the floodlights in Hamilton and Neto was delighted with the victory even though the scoreline did not reflect their dominance. "This is very important and it means a lot for all the players," said the Portugal coach, who has been in charge since 2014. "In the first half, I was not satisfied with the team," Vietnam coach Mai Duc Chung said. "They are 11 ranks higher than us and they come from Europe so, yes, they are much better than us ...

Persons: Jessica Silva, David Rowland HAMILTON, Telma Encarnacao, Francisco Neto, Francisca Nazareth, Neto, Encarnacao, Lucia Alves, Tran Thi Kim Thanh, Kim Thanh, Kim Thanh's, Nguyen Thi, Thuy, Patricia Morais, Mai Duc Chung, Hritika Sharma, Ken Ferris Organizations: Soccer Football, FIFA, REUTERS, Vietnam, Waikato, Encarnacao, Thomson Locations: New Zealand, Portugal, Vietnam, Waikato, Hamilton , New Zealand, David Rowland HAMILTON , New Zealand, Netherlands, U.S, Auckland, Dunedin, Hamilton, United States, Nazareth, Europe, Hyderabad

☆ Vietnam EV maker VinFast to start construction of US factory next week
▼ + stars: | 2023-07-19 | by ( Phuong Nguyen | ) www.reuters.com time to read: +1 min

HANOI, July 19 (Reuters) - Vietnamese automaker VinFast said on Wednesday it would start construction of a $4 billion electric vehicle factory in North Carolina next week as part of its push to expand in the United States market. The unit of Vietnam's largest conglomerate Vingroup (VIC.HM), which began operations in 2019, announced plans for the U.S. factory last year. It is targeting the start of production in 2025, a year later than its initial plan. "When it begins operations, the factory will be VinFast's primary supplier of electric vehicles to the North American market," said Thuy Le, head of VinFast Auto. The project's first phase includes a $2 billion investment in a factory capable of producing 150,000 vehicles a year.

Persons: VinFast, Thuy Le, Tesla, China's, Vinfast, Phuong Nguyen, Jamie Freed Organizations: U.S, North, VinFast Auto, Spade, Thomson Locations: HANOI, North Carolina, United States, North American, California

☆ China's yuan has fallen to the lowest rate since 2014 by one measure, and Beijing is OK with that for now, FX strategist says
▼ + stars: | 2023-06-14 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

China's yuan is at the lowest since 2022 by traditional metrics as economic growth has disappointed. But one measure of its real effective rate puts the currency at the lowest since 2014. "So valuation-wise, renminbi is starting to look cheap," a Macquarie foreign exchange strategist said. However, expectations of economic stimulus from Beijing could lift the yuan, Trang added. That's due in part to relatively low volatility in currency markets and the yuan's gradual slope downward, she said.

Persons: renminbi, —, Trang Organizations: Macquarie, Service, China Foreign Exchange Trade, People's Bank of China, Bank of International, Macquarie Group, Bloomberg, Federal Reserve, greenback Locations: Beijing, China

☆ Vietnam EV maker VinFast to list in U.S. via a SPAC
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +2 min

Vietnamese electric automaker VinFast said on Friday it will list in the United States via a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co . The company has said it has almost 55,000 orders globally and is able to churn out 300,000 EVs per year. Black Spade Acquisition is a Hong Kong-based SPAC which listed on the NYSE in July 2021 with a plan to merge, within two years, with a company ideally in the entertainment business, according to its website. It was founded by Black Spade Capital Limited, the private investment arm of Lawrence Ho, the head of Melco Resorts & Entertainment Ltd, which operates casinos in Macau and the Philippines, according to the company's website and Refinitiv. "The partnership with Black Spade and listing of VinFast in the U.S. represents the perfect capital raising avenue for our future global ambitions," Thuy Le, VinFast's global chief executive, said.

☆ Touching the sky: A rare solar eclipse and a new hotel in the clouds
▼ + stars: | 2023-04-22 | by ( Lilit Marcus | ) edition.cnn.com time to read: +9 min

Courtesy Amelia Earhart Hangar MuseumAmelia Earhart wasn’t just the first woman to fly solo over the Atlantic. Camelot Theme Park (England): Set in the leafy Lancashire countryside, the Magic Kingdom of Camelot resurrected tales of King Arthur and his Knights of the Round Table. Scott Audette/AP Pripyat Amusement Park (Ukraine): This theme park was orphaned in 1986 following the Chernobyl meltdown just five kilometers (three miles) away. Considered the first theme park in Southeast Asia, it featured an artificial lake, huge swimming pool with giant water slides and a Prehistoric Animal Kingdom. Anne Jones/Alamy Stock Photo 10 fascinating theme parks that have closed forever Prev NextThat’s the question posed by these no-longer-in-operation theme parks around the world.

☆ 10 fascinating theme parks that have closed forever
▼ + stars: | 2023-04-19 | by ( Joe Yogerst | ) edition.cnn.com time to read: +9 min

In April, we’re taking a thrilling ride into the world of theme parks. “We think of amusement parks as vibrant, colorful, noisy, cheerful places,” says Jim Futrell of the National Amusement Park Historical Association. Pripyat Amusement Park (Ukraine)The Pripyat Amusement Park was built right before the Chernobyl disaster. Yongma Land (South Korea)Once in a blue moon, abandoned theme parks find new life by adopting totally new functions. Faced with increased competition from Orlando’s modern theme parks, Cypress Gardens closed in 2009 and was eventually absorbed into LEGOLAND Florida.

☆ European Central Bank is 'much less likely' to hike interest rates by 50 basis points: Strategist
▼ + stars: | 2023-03-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean Central Bank is 'much less likely' to hike interest rates by 50 basis points: StrategistTrang Thuy Le of Macquarie Group says 25 basis points is the "base case."

☆ We won't cut corners in developing our products, says Vietnamese EV maker
▼ + stars: | 2023-03-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe won't cut corners in developing our products, says Vietnamese EV makerLe Thi Thu Thuy, CEO of VinFast, says it wants to make sure its electric vehicles are accessible to the mass market, and adds that the company is still young, with "a lot to prove."

☆ Annual production capacity for U.S. facility will initially be 150,000 vehicles: Vietnamese EV maker
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnnual production capacity for U.S. facility will initially be 150,000 vehicles: Vietnamese EV makerLe Thi Thu Thuy, CEO of VinFast, says it plans to start trial production at its North Carolina facility in 2024.

☆ Vietnamese EV maker VinFast says job cuts won't derail plans to start U.S. production
▼ + stars: | 2023-02-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

"We still plan to start the trial production in 2024 as originally planned," Le said. The annual production capacity of the plant is 150,000 electric vehicles, according to the company's release. The next markets VinFast plans to target will be in Europe, namely Germany, France and the Netherlands, said the CEO. However, VinFast vehicles do not currently qualify for the $7,500 tax credit in the U.S. because they are not built in the country, but are built in Vietnam. "I believe that in the long run [we are] going to concentrate the manufacturing of electric vehicles as well as the key components of electric vehicles in the U.S.," Le added.

HONG KONG, Dec 21 (Reuters Breakingviews) - Vietnam is an unlikely home of the next Elon Musk. The 48-year-old is at the wheel of VinFast, a money-losing electric-vehicle maker racing the U.S. entrepreneur’s Tesla (TSLA.O) on Western roads. VinFast has made its name selling gas guzzlers in the Southeast Asian nation, where its parent Vingroup (VIC.HM) is the top conglomerate. CONTEXT NEWSVietnamese electric-car maker VinFast is planning a U.S. initial public offering, an initial prospectus published on Dec. 6 shows. Revenue fell to 10.5 trillion dong, down from 11.2 trillion dong.

When Tioni Theus woke up, most mornings, the first thing she did was turn on music. Tioni’s most frequent social media posts were videos of herself singing along to music, smiling and mugging for the camera. But in recent years she had begun to gravitate toward gritty, emotional rappers and singers like Rod Wave, whose songs explore the painful underside of street life. (“Daddy gone and mama couldn’t save me/So hard times made me,” he raps on his song “Thug Life.”) Read MoreTioni, right, with her family. But as with many aspects of Tioni’s life, the stakes were higher than they should have been: Both investigators and some family members have suggested that she may have been a victim of human trafficking.

Its dependency on parent Vingroup (VIC.HM) may be a turnoff, too. Success has yet to translate to returns for parent Vingroup, owned by Vietnam’s richest man, Pham Nhat Vuong. VinFast’s net loss nearly doubled to 34.5 trillion dong ($1.45 billion) for the first nine months of 2022 compared with the same period last year, while the top line shrank 6% to 10.5 trillion dong. VinFast reported a net loss of 34.5 trillion dong ($1.45 billion) for the nine months to the end of September, according to the prospectus, widening from 18 trillion dong a year earlier. Revenue fell to 10.5 trillion dong, down from 11.2 trillion dong in the same period last year.

☆ Vietnam's VinFast ships first electric vehicles to U.S. customers
▼ + stars: | 2022-11-25 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

The first cars are expected to be handed over to customers by the end of December, the company said. Thuy said VinFast expected to be able to ship a second batch of cars to the United States, its first export market, around January. VinFast is in the process of building an electric vehicle plant in North Carolina that is awaiting final regulatory approval from local officials. VinFast said last week that Autonomy had ordered 2,500 electric vehicles, its largest corporate order to date. VinFast officials said the number 999 for the vehicles shipped in the first batch had been chosen because it is considered a lucky number in Vietnam.

However, the patterns suggest that sexual violence “maybe even more frequent” in territories that were occupied for longer periods, he added, without providing evidence. Widespread or systematic sexual violence could amount to crimes against humanity, which are generally seen as more serious, legal specialists said. Moscow, which has said it is conducting a “special military operation" in Ukraine, has denied committing war crimes or targeting civilians. Evidence that sexual violence was planned could indicate it was part of a systematic attack or that some level of command was aware, said Kim Thuy Seelinger, an advisor to the ICC on sexual violence in conflict and a research associate professor at Washington University in St. Louis. Ukraine’s Prosecutor General’s office said it has opened dozens of criminal cases involving sexual violence by members of the Russian armed forces against women, children and men.

Dung, condamnat la 15 ani de închisoare, a înfiinţat în 2014 Asociaţia independentă a jurnaliştilor din Vietnam, care potrivit poliţiei a vizat schimbarea regimului. Ceilalţi doi au primit câte 11 ani de detenţie. Amnesty International a remarcat ca reacţie la sentinţele anunţate că „severitatea acestora arată cât de departe au mers cenzorii din Vietnam, până şi după propriile standarde profund represive”. În pofida amplelor reforme economice şi a unei tot mai mari deschideri faţă de schimbările sociale, Partidul Comunist la putere în Vietnam menţine o cenzură strictă asupra media şi nu tolerează criticile. Partidul conducător şi-a intensificat campania antidisidenţă în perspectiva congresului cincinal prevăzut să aibă loc mai târziu în ianuarie, notează Reuters.

Persons: Chi Dung, Nguyen Tuong Thuy, Chi Minh, Reuters Organizations: Partidului Comunist din, Amnesty International, Partidul Comunist Locations: Le, Chi, Vietnam, Partidului Comunist din Vietnam

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