Acceptability energy transition

"The pandemic years are behind us and borders are open as normal," Willie Walsh, head of the International Air Transport Association (IATA), told IATA's annual summit of some 300 carriers. IATA boosted its industry profit forecast to $9.8 billion from $4.7 billion cheered by strong travel demand and an easing in oil prices. Revenue is expected to grow by 9.7% to $803 billion, inching closer to 2019's pre-pandemic level of $838 billion. But slender profit margins of 1.2% mean repairing damaged balance sheets and offering sustainable returns on investments will continue to be a headache for some airlines, Walsh said. He said airlines on average make $2.25 per passenger, "which is less than the price of a cup of coffee, a subway ticket". The profit forecast, raised from one given in December, reflected a boost in Europe, despite a wave of strikes. Airlines have in recent months reported strong results as they prepare for a busy summer season, with travel demand … [Read more...] about Global airlines more than double 2023 profit outlook

Mai celebrates the last night of the lunar year yachting on the Saigon River in January, 2023. Photo by VnExpress/Minh Tam Born to a father who served in the American marine corps and a Vietnamese immigrant mother, Mai, 32, felt she was different from others ever since she was a child. "Our names, our hair color, and our eye color were different," Mai told VnExpress as she recalled her and her siblings’ childhood in a small town an hour’s drive from San Diego, California, where the majority of residents were white. "We considered ourselves different from others the moment we stepped out of our houses." Hoping to help Mai and her brothers and sisters blend into the local community, her mother didn’t teach them Vietnamese or Vietnamese culture. Her family rarely watched Asian movies and only visited the area’s Little Saigon district once a year to visit her grandmother. Racism was a serious problem during Mai’s school days. Asian children were forced by other students … [Read more...] about Vietnamese-American woman returns to her roots

PM Pham Minh Chinh (R) and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the meeting in Hanoi on June 5. (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA). The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023. He affirmed Vietnam’s consistent foreign policy of independence, self-reliance, diversification and multilateralisation of external relations, and being a good friend, trustworthy partner, and responsible member of the international community. The country is also working to develop an … [Read more...] about PM calls for early finalisation of Comprehensive Economic Partnership Agreement with UAE

Difficulties on way out for Vietnam’s Visa policy The short duration of stay, along with complicated factors related to the visa application procedure, have been causing headaches for foreign tourists. However, the Minister of Public Security has submitted to the National Assembly a draft amendment and supplement to a number of articles of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam at the end of May. The new draft has proposed to increase the duration of e-visas from no more than 30 days to a maximum of three months, valid for one time or multiple times. At the same time, the scope of e-visa issuance would be expanded to more than 80 countries and temporary residence would rise from 15 to 45 days. The Ministry of Culture, Sports and Tourism also proposed to consider supplementing the pilot regulation of issuing visas at border gates for international tourists. This proposal also requires a clearer regulation of the extension of visa-free entry for … [Read more...] about Difficulties on way out for Vietnam’s Visa policy

Manulife Vietnam repays over $34 million in light of accusations Lieutenant General To An Xo, the official spokesperson for Vietnam’s Ministry of Public Security, addressed inquiries from local media during a routine government press conference on June 3. It concerned the ongoing developments in the case involving Manulife Vietnam and Saigon Commercial Bank (SCB) and accusations of illicitly transforming customers' savings deposits into life insurance agreements. Lieutenant General Xo disclosed that the police have received a total of 579 complaints and have taken decisive action in response to each one. According to local media Dantri, Lieutenant General Xo shared that as of May 31, Manulife Vietnam had received a staggering 6,060 complaints pertaining to insurance contracts. Out of this substantial number, Manulife has successfully addressed and resolved 3,553 of the complaints. "Manulife has demonstrated its commitment to resolving this issue by refunding a large sum of … [Read more...] about Manulife Vietnam repays over $34 million in light of accusations

Da Nang Smart City App helps connect residents and local administration. (Photo: VNA) Da Nang (VNS/VNA) - With 43% of the population aged 18 and more owning electronic accounts on the public service portals , the central city of Da Nang is among the leading localities in Vietnam in digital transformation. Digital transformation is being promoted with the participation of all agencies, enterprises and residents. Digital economy accounts for 17% of the city’s Gross Regional Domestic Product in 2022. This has contributed to the city’s digital socio-economic recovery and development and created digital skills and habits for local people. Nguyen Quang Thanh, Director of the municipal Department of Information and Communications, said the e-government and smart urban area building inspire the city’s digital transformation . “Data plays a key role in creating new values,” he told Vietnam News Agency. Since 2020, the city has built a database based on various sources. … [Read more...] about Da Nang applies digital transformation to urban management

Transactions at Vietcombank. — Photo courtesy of the bank The State Bank of Viet Nam (SBV) just allowed Vietcombank to raise its charter capital from VND47 trillion (US$2 billion) to VND55 trillion ($2.3 billion) by issuing shares to pay dividends from the remaining profits of 2019 and 2020. Previously, the bank’s 2022 Annual General Meeting of Shareholders approved the issuance of 856.5 million dividend stocks at a rate of 18.1 per cent. Once the issuance is completed, its charter capital will increase by nearly VND8.6 trillion to more than VND55.89 trillion, thereby surpassing Vietinbank and BIDV to become the second largest bank, after VPbank. Vietcombank said that the mobilised capital will be spent on expanding the business scale to meet the economy’s requirements, and investing in improving management and operation plans. The bank also plans to issue a maximum of nearly 2.8 billion shares to pay dividends from the remaining profit of 2021 and the remaining profit … [Read more...] about Vietcombank permitted to raise capital to $2.3 billion

There are 9,953 Mobile Money service points nationwide. — Photo vnexpress.net Viet Nam had more than 3.9 million people using Mobile Money service by the beginning of last month, an increase of 6.3 per cent compared to March and three times higher compared to the same period last year. Statistics of the Viet Nam Telecommunications Authority (VNTA) under the Ministry of Information and Communications show that the number of Mobile Money users in rural, mountainous, and remote areas reached more than 2.7 million customers, accounting for 69 per cent of service users. Currently, there are 9,953 Mobile Money service points nationwide, an increase of 12 per cent compared to March. The number of units accepting payment via Mobile Money reached 15,326 points, up 0.2 per cent. The total number of transactions including deposit, withdrawal, money transfer, and payment by Mobile Money is more than 26.1 million transactions, with a total transaction value of more than VND1.7 trillion … [Read more...] about Mobile Money has nearly 4 million users

The amended Housing Act lacks provisions on the life span of condominiums, which may cause problems for the authorities when it comes to renovating the buildings. The secretary of the Hanoi Party Committee, Dinh Tien Dung, suggested on May 5 that there should be an expiration date for the ownership of apartments. An old apartment building in Thanh Xuan Bac Ward of Thanh Xuan District. Photo: Thai San/The Hanoi Times Commenting on the amended Housing Law, he said the expiration date would make the Government responsible for maintaining and repairing deteriorating apartment buildings in time. "The Government is responsible for protecting people, and moving them out of dilapidated buildings is for their good," said Dung, who heads Hanoi's delegation to the National Assembly. Many people in Hanoi now live in degraded apartment buildings. There is a lot of pressure on the capital to relocate these people so that authorities can renovate the … [Read more...] about New apartment buildings must have life span: Hanoi Party Chief

Practical experience has shown that the relationship between the press and companies is one of accompanying each other and co-developing. At the "Media and Enterprises - Companions for Sustainability" forum hosted by The Economic and Urban Newspaper today [June 5], experts shared their views on the relationship between enterprises and the press. Deputy Director of the Press Department of the Ministry of Information and Communications Dang Khac Loi: Press contributes to a favorable business environment Deputy Director of the Press Department under the Ministry of Information and Communications Dang Khac Loi. Photo: Thanh Tra Newspaper In the process of national development, entrepreneurs and enterprises are an important part of the great bloc of national unity and play a vital role in the country's construction and economic progress. To realize the socio-economic development goals, it is imperative to continue fostering a favorable business … [Read more...] about Strong ties between businesses and press in a difficult time: Experts