Hot weather in north and central regions in Vietnam this week

Wednesday, 01/06/2022 21:34
According to the National Centre for Hydro-Meteorological Forecasting, after enduring a spell of heavy downpours, both northern and central regions of Vietnam will brace for a heat wave starting from June 1 to June 6.

Residents in northern, central regions will be hit by a heat wave this week

It is anticipated that the heat wave with daytime temperatures reaching up to 37°C will hit localities from Thanh Hoa to Phu Yen on June 1. This extreme weather will cause temperatures to stay above 35°C for between 12 and 16 hours per day, and humidity to fall to lows of between 50% and 65%.

VOV reported that the heat wave is set to reach its peak between June 2 and June 6 when temperatures are forecast to reach up to 38°C , with highs of over 39°C in some places.

From June 3 to June 5, hot weather is likely to spread across northwestern and midland regions, with the highest temperatures reaching between 35 - 36°C and even higher. The lowest humidity of the day will be from 50% and 60%.

However, the heat will gradually abate over the following days, weather experts said.

The foehn effect causes heat to last longer during the day and lowers humidity, thereby posing a high risk of fire. The hot weather will affect the daily activities of people and threaten the health of local residents.

Medical experts have warned of the risk of dehydration, exhaustion, and heat stroke if people are exposed to high temperatures for a long time.

Fishery export declines in May

Vietnam’s fishery export hit US$1 billion in May, up 27% year-on-year but down from the US$1.1 billion recorded in the previous month, VNA citied the report of the Vietnam Association of Seafood Exporters and Producers (VASEP).

Photo for illustration (Source: VNA)

The drop was mainly due to a decline in shrimp export which increased only 19% to US$416 million as compared with a 47% rise in April, the association explained. 

In the first five months of this year, the total value was over US$4.6 billion, a rise of 42% from the same period last year, of which shrimp export accounted for 39%.

Enterprises said the hike in shrimp export in the first four months was thanks to reserve materials and inventories from 2021. In addition, many firms won contracts with high prices late last year when the COVID-19 pandemic was ravaging and the global inflation affecting shrimp prices.

Photo for illustration (Source: VNA)

Since May, unfavourable weather conditions have exerted negative impacts on shrimp farming. Therefore, it is forecast that there will be a shortage of material for export in May and the coming months.

Vietnam’s shrimp export is also predicted to grow slowly in the second and third quarters as the demand from major markets will stand still after the surge.

Tra fish export in May also expanded 65% to US$245 million. In the first five months, the value rose nearly 90% to more than US$1.2 billion.

Although the export of other aquatic products like squid, octopus, crab and mollusc increased in May, it still remained lower than that in April.

Experts said the Russia-Ukraine conflict will continue to negatively impact economic sectors, including fishery.

Vietnam Airlines earns 35 million USD after divesting from Cambodia Angkor Air

According to VNA, Vietnam Airlines JSC (HoSE: HVN) recently announced that it has completed the transfer of 35 percent of its shares in Cambodia Angkor Air (K6) to the receiver, under an agreement between the two parties in the share transfer contract.

An aircraft of Vietnam Airlines. (Photo: VNA)

After the transfer, K6 is no longer an affiliated company of the flag carrier.

According to a 2021 audited consolidated financial statement, on January 3 and March 29, the airline received 30 million USD and 4 million USD respectively from investors to buy back the contributed capital of the company at K6.

It had also received a deposit of 1 million USD in 2019. The total 35 million USD corresponds to 35 percent of K6 shares.

Although the money was only paid until 2022, due to the transfer of stock ownership in 2021, Vietnam Airlines’ report has no longer recorded K6 as an associate, and revenue from financial activities posted a gain of more than 647.7 billion VND from the profit of the transfer of contributed capital.

The income has helped the carrier reduce its loss in 2021 and its equity is still greater than zero, escaping a delisting sentence.

Cambodia Angkor Air was established in 2009 under the cooperation of Vietnam Airlines and the Royal Government of Cambodia.

Under the joint venture contract, Vietnam Airlines contributed 49 percent of the capital to Cambodia Angkor Air with the historical price of 868.5 billion VND.

At the end of 2021, after divesting 35 percent of shares, the remaining 14 per cent of K6 shares were transferred to the investment portfolio to contribute capital to other entities with the historical price of 248 billion VND.

Last year, K6 business activities were heavily affected by the COVID-19 pandemic, like other airlines in the region and the world.

To minimise losses, K6 has implemented solutions to restructure, reduce the scale of operations, maintaining only a few main routes with minimal frequency to cut costs, negotiating to delay payments, and taking advantage of every opportunity to increase the exploitation of charter and cargo flights to supplement cash flow to maintain operations.

However, it had lost 17.7 million USD last year, an increase of 37.2 percent compared to 2020’s losses.

On the stock market, HVN fell 1.04 percent to trade at 18,950 VND per share at 10:55 (local time) after gaining for four straight sessions. 

Vietnamese team ranks 8th at 2022 Asian Physics Olympiad

According to the Ministry of Education and Training, the Vietnamese team ranked 8th at the 2022 Asian Physics Olympiad (APhO)  after those from China, Russia, Australia, Taiwan (China), Kazakhstan, India, and Thailand.

Vietnamese team ranks 8th at 2022 Asian Physics Olympiad

All eight Vietnamese students participating in the Olympiad have won prizes, bringing home one silver, two bronze medals and five certificates of merit.

12th-grader Le Minh Hoang from the Hanoi University of Science (HUS)’s High School for Gifted Students earned the silver medal. Also from the school, 10th-grader Vo Hoang Hai and 11th-grader Vu Ngo Hoang Duong, secured the bronze medals, while 11th-grader Nguyen Tuan Minh and 12th-grader Cao Van Dong each received a certificate of merit.

The remaining three certificates went to students from high schools for the gifted in the northern provinces of Vinh Phuc and Bac Ninh, and the south-central province of Phu Yen.

The Olympiad took place in India from May 23 to 31 with the participation of 218 contestants./.