Latest news with #HANOI
Malay Mail
a day ago
- Climate
- Malay Mail
Five dead, one missing as flash flood sweeps through northern Vietnam
HANOI, July 29 — A weekend flash flood in Vietnam's mountainous north killed five people, authorities said Tuesday, while another person remains missing after the deluge. Heavy rains triggering flash floods were reported Saturday night in Son La province, destroying 22 houses, damaging scores more and forcing dozens of families to evacuate, the agriculture ministry said Tuesday. Three bodies were recovered on Monday, a ministry statement said, adding to two others already found dead in the aftermath, with the search for another person still continuing. More than 180 hectares of crops and 2,600 cattle and poultry were also swept away. Vietnam is prone to tropical storms, which often cause deadly flash floods and landslides. Human-driven climate change is causing more intense weather patterns that can make destructive floods more likely. Last week, Tropical Storm Wipha killed three people and flooded nearly 4,000 homes in the country's central Nghe An province. A sudden whirlwind and abnormal weather pattern overturned a tourist boat in Vietnam's Unesco area of Ha Long Bay July 19, killing 39 people, including several children. And in September 2024, Typhoon Yagi devastated northern Vietnam, leaving 345 people dead and causing an estimated economic loss of US$3.3 billion (RM14 billion). — AFP
Arab News
a day ago
- Climate
- Arab News
Vietnam flash flood kills five, dozens evacuated
HANOI: A weekend flash flood in Vietnam's mountainous north killed five people, authorities said Tuesday, while another person remains missing after the deluge. Heavy rains triggering flash floods were reported Saturday night in Son La province, destroying 22 houses, damaging scores more and forcing dozens of families to evacuate, the agriculture ministry said Tuesday. Three bodies were recovered on Monday, a ministry statement said, adding to two others already found dead in the aftermath, with the search for another person still continuing. More than 445 acres (180 hectares) of crops and 2,600 cattle and poultry were also swept away. Vietnam is prone to tropical storms, which often cause deadly flash floods and landslides. Human-driven climate change is causing more intense weather patterns that can make destructive floods more likely. Last week, Tropical Storm Wipha killed three people and flooded nearly 4,000 homes in the country's central Nghe An province. A sudden whirlwind and abnormal weather pattern overturned a tourist boat in Vietnam's UNESCO area of Ha Long Bay July 19, killing 39 people, including several children. And in September 2024, Typhoon Yagi devastated northern Vietnam, leaving 345 people dead and causing an estimated economic loss of $3.3 billion.
Free Malaysia Today
23-07-2025
- Business
- Free Malaysia Today
Vietnamese stocks near record on reform hopes, trade deal optimism
Foreign investors bought US$411 million of Vietnamese shares on a net basis in July, the second month of inflows this year. (EPA Images pic) HANOI : Vietnam's stock benchmark is closing in on a record high, fueled by optimism over sweeping political reforms and clarity on a trade deal with the US. The government is undertaking its biggest administrative overhaul in decades to shrink bureaucracy as Prime Minister Pham Minh Chinh pushes for more than 8% economic growth this year. A trade deal that cut US tariffs on the nation's goods to 20% from 46% in April also clears an overhang for the market. The moves have driven a 19% rally in the Vietnam Ho Chi Minh Stock Index this year, putting the market well ahead of its Southeast Asian peers. More gains could follow if Vietnam secures an upgrade to emerging-market status by FTSE Russell. 'Never before have we seen such strong reforms in Vietnam,' said Tyler Manh Dung Nguyen, chief market strategist at Ho Chi Minh City Securities Corp. 'I would allocate more in Vietnam right at the beginning of these changes,' he said. The government is cutting red tape and unnecessary costs to redirect funds to development projects, part of its aim to achieve high-income status by 2045. Its pro-growth policies are luring investors back to the country, reversing sentiment after global funds withdrew a net US$3.18 billion from local stocks last year. Foreign investors bought US$411 million of Vietnamese shares on a net basis in July, the second month of inflows this year, while selling their holdings in Malaysia, Indonesia and the Philippines. Conglomerate Vingroup JSC, lender Vietnam Joint Stock Commercial Bank for Industry and Trade and Hoa Phat Group JSC are among the biggest gainers on the index this year as investors bet on major beneficiaries of the country's strong growth. The economy expanded 7.52% in the six months through June, according to Vietnam's statistics office, supported by a surge in manufacturing as foreign buyers raced to avoid higher tariffs on sales to the US. 'We became more positive since May as valuations started to look compelling given the forecast earnings growth of about 15% and price-earnings multiples of 10 times in 2026,' said Christopher Leow, CEO at Principal Asset Management in Singapore. Investors are expecting a FTSE reclassification of Vietnam's market to take place as soon as September, which the index compiler projects may draw up to US$6 billion in capital inflows. That would give another boost to the benchmark, which is less than 2% away from its all-time high in January 2022. To be clear, Vietnam's growth outlook remains clouded by a potential slowdown in global growth in the second half of the year. Uncertainty over a 40% US tariff on goods deemed to be transshipped through the Southeast Asian nation also weighs on local businesses. Still, the bullish case for Vietnam is hard to ignore. 'What makes Vietnam stand out globally is that it's almost inconceivable it won't become a much bigger economy' and returns on invested capital are much higher than in many other countries, said Johannes Loefstrand, portfolio manager at T Rowe Price who manages a frontier markets fund with its largest allocation in Vietnam.
Washington Post
22-07-2025
- Climate
- Washington Post
Storm Wipha hits northern Vietnam with strong winds and heavy rain
HANOI, Vietnam — Tropical Storm Wipha made landfall in northern Vietnam on Tuesday, bringing strong winds and heavy rain to parts of the country's north and central regions. The storm came ashore at 10 a.m. with sustained winds of 64–102 kilometers per hour (40–63 mph), and gusts up to 138 kph (86 mph), according to local weather officials. After landfall, it began moving southwest.
Associated Press
21-07-2025
- Climate
- Associated Press
Vietnam races to prepare for Typhoon Wipha as Philippines suffers storm deaths
HANOI, Vietnam (AP) — Vietnam braced for Typhoon Wipha on Monday as coastal provinces were placed on emergency alert and airlines canceled flights ahead of the storm's expected landfall early Tuesday. The typhoon is forecast to bring powerful winds and heavy rainfall, raising the risk of flash floods and landslides in northern Vietnam's mountainous areas and flooding in urban centers, including Hanoi. 'This is a very strong storm, moving fast, with a wide and dangerous impact on both land and sea,' Vietnam Prime Minister Pham Minh Chinh said in a directive to government agencies. He ordered all fishing boats, cargo ships and tourist vessels to return to shore and urged the evacuation of people in high-risk areas. The storm has already proved deadly in the Philippines, where it intensified monsoon rains and killed at least three people over the weekend, including one who drowned and two others struck by falling trees. Philippine officials were checking reports of three more deaths, while seven people, including two children, remained missing. Floods, landslides and debris affected over 800,000 people, with about 90,000 forced to evacuate, authorities said. Hundreds of cruise ships have anchored in Vietnam's Ha Long Bay after authorities suspended all tourist boat services due to the storm. A tourist boat capsized there during a thunderstorm over the weekend, ahead of the typhoon's arrival, killing at least 37 people. Ongoing bad weather is expected to complicate the search for the missing. National carrier Vietnam Airlines and its affiliate Pacific Airlines canceled at least nine domestic flights on Monday, with more delays expected. Budget airline Vietjet canceled 12 flights including international routes to South Korea. Local authorities have deployed rescue crews and stocked food and medical supplies while working to secure telecommunications infrastructure. State media reported nearly 150,000 hectares (370,658 acres) of aquaculture farms and more than 20,000 floating fish cages could be at risk from flooding and high winds. Emergency warnings have been sent to millions of residents by text message. Forecasters expect Wipha to make landfall between Hai Phong and Thanh Hoa provinces early Tuesday, with wind gusts reaching up to 166 kilometers (103 miles) per hour. Vietnam is no stranger to tropical storms. But climate experts said such storms were getting stronger due to global warming since warmer ocean waters provide more energy to fuel the storms. This results in increased wind speeds and heavier rainfall. Last year, Typhoon Yagi killed about 300 people and caused $3.3 billion in damage, reducing GDP growth by 0.15%. ___ Jim Gomez in Manila, Philippines, contributed to this report. ___ Associated Press climate and environmental coverage receive support from several private foundations. See more about AP's climate initiative here. The AP is solely responsible for all content.
