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Silicon Valley Bank’s demise began with downgrade threat

Silicon Valley Bank's demise began with downgrade threat

In the middle of last week, Moody’s Investors Service Inc delivered alarming news to SVB Financial Group, the parent of Silicon Valley Bank: the ratings firm was preparing to downgrade the bank’s credit. That phone call, described by two people familiar with the situation, began the process toward Friday’s spectacular …

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Hanoi to plant 400,000 more trees

Hanoi plans to plant 400,000 more trees until 2025 for better urban aesthetics. The capital’s tree-planting plan for the 2021-2025 term would see 500,000 trees being planted during the period. Around 100,000 trees were planted in 2021 and 2022, and another 400,000 are expected to be planted in the next …

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Li Qiang, Xi confidant, takes reins as China’s premier

Li Qiang, Xi confidant, takes reins as China's premier

Four years before Li Qiang became known as the force behind the two-month Covid-19 lockdown of Shanghai, the man who became China’s premier on Saturday worked quietly behind the scenes to drive a bold revamp of the megacity’s sclerotic stock market. Li’s back-channeling – sources said he bypassed the China …

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Vietnam foreign minister calls for full flight resumption with China

Minister of Foreign Affairs Bui Thanh Son suggested Vietnam and China maintain high-level exchanges to quickly resume all international flights to facilitate travel and trade. Receiving Chinese Assistant Minister of Foreign Affairs Nong Rong in Hanoi on Friday, Son suggested that the two countries improve the quality and efficiency of …

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China’s Xi nominates Li Qiang to become premier

China's Xi nominates Li Qiang to become premier

Chinese President Xi Jinping on Saturday nominated Li Qiang to become premier during the ongoing annual meeting of China’s rubber-stamp parliament, a role charged with managing the world’s second-largest economy. Li, the former Communist Party chief of Shanghai, China’s largest city, will replace Li Keqiang, who is retiring during the …

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Indian painkiller recalled over quality issues

The Drug Administration of Vietnam on Friday ordered the recall of a batch of Indian drugs used to treat joint pain due to low quality. It said batch WLD21003E of Locobile-200 produced on Feb. 4, 2021, by M/S Windlas Biotech Limited has been found falling short of quality standards in …

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