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Hurricane88 · #**32746** 08-12-2016, 04:36 PM

False rumors rally Vietnam’s gold, dollar markets despite gov’t denial

TUOI TRE NEWS
UPDATED : 12/08/2016 14:49 GMT + 7

Rumors surrounding the replacement of the current Vietnamese currency have continued to put adverse impacts on the domestic dollar and gold markets, despite repeated warnings from state agencies against the unfounded information.

The currency replacement rumor has sent dollar prices skyrocketing, especially on the unofficial market, since the beginning of the month.
The greenback on the ‘black’ market reached a record VND23,000 a dollar on December 3 as the rumor mill went into overdrive.

Markets rally

Accordingly, rising dollar prices sent gold prices in Vietnam through the roof, with some traders taking advantage of the rumors to manipulate the rates.
The market manipulation widened the gap between Vietnamese and global gold prices, as well as the margin between asking and selling quotes at local gold shops.

On the global market, gold closed at $1,171.1 an ounce on Wednesday, or VND32.08 million (US$1,432) a tael (37.5 grams), while Vietnamese gold shops quoted the precious metal at VND36.45 million ($1,627) a tael, a price gap of VND4.37 million ($195) a tael.

Vietnam’s gold prices move in reverse direction from global peers, fretting local buyers.

“I have no idea why prices in Vietnam rose by VND400,000 [$17.86] a tael while global rates are falling,” Chinh, a resident in Ho Chi Minh City, told Tuoi Tre (Youth) newspaper.

The woman is sitting on hot bricks, having borrowed loans in gold when price was only VND34 million ($1,518) a tael.

Gold has lost $167 an ounce, or VND4.58 million ($204) a tael, on the global market since last month, but prices keep fluctuating strongly in Vietnam, with the false currency replacement largely to blame, according to industry insiders.

“The rumors first rallied the dollar market, and the gold market was affected in the same manner,” Nguyen Thi Cuc, deputy general director of PNJ, a major gold trader, explained.

Nguyen Thanh Long, chairman of the Vietnam Gold Traders Association, said many gold shops have taken advantage of the rallied market to boost prices even further.

While SJC, the country’s largest gold trader, set the gap between ask and bid prices at only VND400,000 a tael at Wednesday’s closing session, the difference was VND500,000 a tael at gold shops.

Search for rumor makers

The State Bank of Vietnam quashed the groundless rumors in a public warning earlier this month, and Prime Minister Nguyen Xuan Phuc reiterated the denial at a government conference on Tuesday.

The premier reassured that the government is totally capable of stabilizing the foreign exchange rate and the macro-economy, without forgetting to task relevant agencies with tracing the rumor makers.

On Wednesday, the foreign exchange agency under the State Bank of Vietnam also reiterated that the central bank is closely watching the dollar and gold markets and will have timely intervention if necessary.

“The public should not believe rumors and remain cautious about any decision to sell or buy,” the agency head Nguyen Ngoc Canh warned.

Hurricane88 · #**32747** 08-12-2016, 04:39 PM

Vietnamese suspect arrested for torturing, and reportedly raping, Cambodian child

TUOI TRE NEWS
UPDATED : 12/08/2016 09:33 GMT + 7

A Vietnamese man on the run from Cambodian police for the suspected torture and rape of a child was apprehended by law enforcement officers in Ho Chi Minh City on Wednesday.

Nguyen Thanh Dung, 34, from the southern province of An Giang, was nabbed in District 7, according to C45, the criminal police unit under the Vietnamese Ministry of Public Security.

Dung was identified as the man in several viral video clips that show him abusing different children, believed to be Cambodians.

In one of the videos, Dung appears to be beating a naked boy, reportedly two years old, strangling him and torturing him with a stun gun.

The Cambodia Daily reported on Wednesday that three suspects, including a Dutchman and two Cambodians, had been taken into custody by police in Kompong Cham Province for alleged involvement in the videos, while a fourth suspect remaind at large.

C45 chief Ho Sy Tien told Vietnamese media later the same day that Dung is the fourth suspect Kompong Cham police had been looking for.

Tien added that C45 officers were working in cooperation with their Cambodian counterparts to initiate the hunt for Dung shortly after the video showing him torturing the naked toddler caused widespread outrage.

According to Cambodia Daily, the Dutch national arrested on Tuesday has been identified as Stefan Struik, the CEO of Kamkav, a company with cocoa plantations in Mondolkiri and a palm sugar plant in Kompong Cham.

The two Cambodians, 28-year-old Ret Sothy and Oeu Nat, 25, are his employees.

The Phnom Penh-based newspaper also said Struik was seen in a YouTube video introducing Nguyen Thanh Dung as his boyfriend and naming him Nguyen Dung.

Meanwhile, the Vietnamese Internet community identified a Facebook page belonging to ‘Dung Thanh’ with multiple photos appearing to show Nguyen Thanh Dung posing with Struik.

Cambodia Daily said the arrests of the three suspects in Cambodia, and of Dung in Vietnam, followed complaints from the victim’s parents, who claimed the kid had been raped.

Hurricane88 · #**32748** 08-12-2016, 04:41 PM

18 test positive for drugs at Ho Chi Minh City game café

TUOI TRE NEWS
UPDATED : 12/07/2016 17:26 GMT + 7

Eighteen people have been found testing positive for drugs in a police swoop on a computer game café in Ho Chi Minh City.

A group of officials, including police, unexpectedly checked two Internet cafés that offer computer games on Tuesday night and discovered 18 people, including three staff members and 15 gamers, being drug-positive at the venue at 696 Tran Hung Dao Street, District 5.

The officials also found a small bag of white powder suspected to be drugs at the café.

The café is run by My Nhan Game Company Ltd., owned by Pham Thi Dieu Hien, a 28-year-old woman from the central city of Da Nang.

Authorities confirmed that the company failed to present documents to prove the legitimacy of 12 game machines at the time of the raid.

At each of the cafés, there was a book recording the pawning of motorbikes, cellphones, and motorbike ownership papers by gamers, police said.

Officials have sealed the game machines at the cafés and handed those testing positive for drugs as well as the pawned bikes to police officers in District 5 for further investigation and handling.

Hurricane88 · #**32749** 08-12-2016, 04:43 PM

Breakfast @ Tuoi Tre News – December 8

TUOI TRE NEWS
UPDATED : 12/08/2016 08:30 GMT + 7

Check out news you should not miss today:

Society

-- Ho Chi Minh City police are still detaining Bui Duc Phuong, director of security company Viet Nhat Co., after a video recently went viral on the Internet showing Phuong pointing a handgun at a woman’s head before opening fire into the air during the two’s argument. Police have also found that Phuong was using a fake police card.

-- A number of schools in the central city of Da Nang have had walls crack even when they have not been put into operation. The cause of the cracks has yet to be identified.

-- Many holiday goers in Ho Chi Minh City have planned for their expensive Christmas celebration by seeking to buy turkeys, or booking tables at 5-star restaurants for the holiday.

Business

-- Numerous local enterprises have expressed their concern over buyers’ decreasing demand, worsened by competition from imported products, ahead of the Lunar New Year, which falls on January 28.

-- The number of enterprises using Internet banking has increased 54.5 percent during the past year, the Ho Chi Minh City branch of the State Bank of Vietnam has recently announced.

Lifestyle

-- The team from Binh Quoi 1 Resort in Ho Chi Minh City on Wednesday won the 2016 Golden Spoon Awards with the prize money of VND1 billion (around US$45,000). The cooking contest was first organized in 2014, with the aim of seeking and honoring traditional dishes that represent the cultural specificities of each region across Vietnam.

-- The 2016 Vietnam Championship Dog Show will be organized from December 16 to 18 by the Vietnam Kennel Association in Ho Chi Minh City. The contest welcomes dogs from Vietnam and other countries.

Education

-- The two Robothon teams from Tran Cao Van and Le Quy Don Elementary Schools in the central city of Da Nang have recently won the first prizes in the categories for apprentices and veterans at the 2016 International Robothon Contest hosted by Malaysia.

Hurricane88 · #**32750** 08-12-2016, 04:49 PM

Big family shares tiny house in Ho Chi Minh City

By Quynh Tran December 8, 2016 | 10:38 am GMT+7

A couple raises three kids on three square meters of land in Saigon's District 8.

http://e.vnexpress.net/news/news/big...y-3510424.html

snipeshot08 · #**32751** 09-12-2016, 07:38 AM

Quote:

Originally Posted by Thom07

That only show how pitiful I was there.
Luckily met someone with same interest there.
An eye opener with more exotic choices too.
Yeah, growing up.

Exotic choices as in "dark" side

Cheerios.......SS08 ^_^

snipeshot08 · #**32752** 09-12-2016, 07:38 AM

Quote:

Originally Posted by Hurricane88

you still bother to reply...

Well I'm a bo liao person.....

Cheerios......SS08 ^_^

snipeshot08 · #**32753** 09-12-2016, 07:39 AM

Quote:

Originally Posted by KangTuo

you have exotic choices yet feel pitiful

xnn lah

Hello big kettle oi, you calling the pot black huh???

Cheerios......SS08 ^_^

snipeshot08 · #**32754** 09-12-2016, 07:40 AM

Quote:

Originally Posted by Hurricane88

SS08 - is the time of the year that Wetnam is the place to be....

Tis the season to be in Wetnam tra la la la la la la la......

Cheerios......SS08 ^_^

Hurricane88 · #**32755** 09-12-2016, 09:57 AM

Quote: