Vinashin Executives Sentenced to Death

By Nguyen Phuong Linh HANOI, Dec 16 (Reuters) - A court in Vietnam sentenced two former executives of a state-owned shipping firm to death on Monday for embezzlement, an unusual harsh sentence in a communist country where prosecutions of top officials are rare. Duong Chi Dung and Mai Van Phuc, respectively former chairman and chief executive of Vinalines, were found … [Read more...]

Vietnam Shipbuilding to Fire 14,000 Employees in Massive Overhaul

Sept. 18 (Bloomberg) -- Vietnam Shipbuilding Industry Group, the state company whose near-bankruptcy contributed to credit downgrades and banking system concerns, said it will fire 14,000 employees, or more than half of its workforce. The company, known as Vinashin, plans to initially eliminate 8,000 employees who have no work and carry out further job cuts later, according … [Read more...]