Investigators of the Ministry of Public Security arrested and searched the house and the office of the Asia Commercial Bank (ACB)’s former Chief Executive Officer Ly Xuan Hai on the evening of August 23, the Vietnam News Agency reported.

The public has been dazed by the sudden news about the arrest of Nguyen Duc Kien and has started in surprise that three tycoons have been arrested just within 20 days of August.

 The HCM City Center for Flood Control Programs has proposed the city’s government build two reservoirs in Thu Duc and Binh Tan districts in a trial scheme to regulate rainwater and floodtides to control flooding.

 Businesses sell abroad 4.5 million tonnes of rice; Auto market’s recovery drive; Banks lack social risk management; Rice exports hit more than US$2 billion; Inflation reheats in major cities

 VietNamNet Bridge – There has been no increase in tuition fees at public schools for the last two years, but private schools never fail to increase theirs every year.

Tran Van Hai, a lawyer representing irate Hung Yen farmers, on Tuesday questioned the Deputy Minister of Natural Resources and Environment, Chu Pham Ngoc Hien, about how land belonging to farmers was revoked for a building project.

 Although it hasn’t yet been exploited for tourism, Cat Tien archeological relic in Cat Tien District of the Central Highlands province of Lam Dong has still managed to lure thousands of tourists on a monthly basis.

Vice CEO Do Minh Toan of the Asia Commercial Bank (ACB), who temporarily replaces CEO Ly Xuan Hai to run the bank, said that depositors withdrew VND5 trillion ($238 million) from ACB on August 22 but the bank’s liquidity is still fine.

 VietNamNet Bridge – According to a source from the Hoa Phat Group, this firm will not purchase two football clubs of Nguyen Duc Kien, who was arrested on August 20.

 U.S. budget deficit would surpass the 1 trillion-U.S.-dollar mark and fiscal tightening next year would pose significant threat to the overall economy, according to a report released by the U.S. Congressional Budget Office (CBO) on Wednesday.

 After a failed earlier attempt, an European cargo spacecraft has adjusted the orbit of the International Space Station (ISS) to create best conditions for the upcoming docking of Russia's manned spaceship Soyuz,

 Film week celebrates friendship with Laos; Hotel offers mooncake baking class; Hanoi Carnival promises multicultural party; CAMA goes Italian at American Club; Hitting all the right notes

 VietNamNet Bridge – The Vietnam Central Hydro-meteorological Forecast Center this morning, August 23, released first information about the Tembin typhoon, which is forecasted to enter the East Sea tomorrow.

 Quyen wins bronze at martial arts champs; Indonesia to take part in int'l U21 football tourney; Da Nang awards local football team VND1 billion;  Run for children to kick off at Thien Quang Lake

 VietNamNet Bridge – Vietnamese martial artists won two silver medals on the second day of the 2012 Asian Wushu Championships taking place at Phu Tho Gymnasium, HCM City.

 Google set out to take users of its free online mapping service on an Arctic adventure with help from an Inuit community in the Canadian tundra.

 Schools asked to continue classes on traffic safety; St Paul Hospital to be upgraded; Bird flu spreads across Quang Ngai; Dien Bien determined to fight rabies; UNFPA supports youth development strategy

A series of commercial banks have got the nod from the State Bank of Vietnam to lift the ceiling credit growth rates. However, economists have warned that this could be a double edge knife.

 VietNamNet Bridge – The accident happened on the evening of August 21 on Dinh Tien Hoang Road, Binh Thanh District, HCM City.

 VietNamNet Bridge – Hanoi police have determined that nail dispersing incident on Kim Ma  Road, which made hundreds of vehicles get punctured on the evening of August 20, was an accident.