Fitch global corporate finance average cumulative default rates

Headquarters of the State Bank of Viet Nam (SBV). After the Fed’s decision to raise its benchmark interest rate by only 25 basis points last week, analysts forecast the SBV may adopt a wait-and-see approach until the end of the first quarter of this year before making the next interest rate hike. — Photo sbv.gov.vn The State Bank of Viet Nam (SBV) might not increase its policy interest rate in the first quarter of 2023 after the US Federal Reserve (Fed) raised its rate by only 25 basis points last week while the Vietnamese dong has strengthened against the US dollar, analysts forecast. According to analysts from financial data provider FiinGroup, the dong has strengthened by about 5 per cent against the dollar since the beginning of December 2022 as the Fed has slowed rate hikes and China has reopened. After the Fed’s decision last week, the analysts forecast the SBV may adopt a wait-and-see approach until the end of the first quarter of this year before making the next … [Read more...] about Central bank forecast to keep policy interest rate unchanged in Q1 2023

NESCAFE Plan has contributed to improving farmers’ income and enhanced the role and status of women. Nestle has been recognised in the 2023 Bloomberg Gender-Equality Index for its efforts to promote gender equality in the company and its value chain. — Photo courtesy of Nestle With its efforts to promote gender equality in the workplace and its value chain, Nestle has been recognised in the 2023 Bloomberg Gender-Equality Index (GEI) for the fifth consecutive year. The GEI measures gender equality in over 70 metrics across five pillars - leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, anti-sexual harassment policies, and gender equality outside the company). The company scored 78.5 per cent, above the average index score of 73 per cent. "We are pleased our efforts to advance gender balance in our workforce and empower women across our value chain have been recognised once again. We strongly believe that taking action to ensure women's equal … [Read more...] about Nestlé recognised in Bloomberg Gender-Equality Index for fifth consecutive year

AI4VN has been an annual programme organised by the Ministry of Science and Technology since 2018 (Photo: VietnnamPlus) Hanoi (VNA) - The 2022 Vietnam Artificial Intelligence Day (AI4VN), themed “AI – Recovering the economy , shaping the future”, began in Hanoi on September 23. The forum was expected to serve as a venue for participants to share stories, and propose solutions to contribute to creating motivation for developing the AI ecosystem in Vietnam. This was also a good chance for the community to understand more about the application perspective to see how AI technology has changed people's lives. At the event, Deputy Prime Minister Vu Duc Dam said AI4VN 2022 introduces artificial intelligence products from not only big and reputable enterprises but also small businesses, adding that this shows that technology will greatly change lives now and in the future. He stressed that Vietnam needs to make more efforts in the process of applying artificial intelligence … [Read more...] about 2022 Vietnam Artificial Intelligence Day opens in Hanoi

Great chances for Vietnam to switch to Web 3.0 (Source: netweb.vn) Hanoi (VNA) – As more information technology businesses invest resources into Web 3.0, coupled with the large number of users and coders, Vietnam sees great opportunities in the blockchain market in the Southeast Asian region, say experts. Web 3.0 was born from the natural evolution of older generation Web tools combined with advanced technologies such as artificial intelligence (AI), blockchain, and the connection between users and the Internet. In other words, Web 3.0 is an upgrade to its predecessors: Web 1.0 and 2.0. In recent years, foreign investors have flocked to Vietnam and established investment funds specialising in blockchain. Capital inflows into non-fungible token (NFT) assets also skyrocketed from 37 million USD to 4.8 billion USD in 2021, Finder reported. Experts explained that Vietnam has about 5.9 million people, or 6.1% of the population, who have exposure to blockchain-enabled … [Read more...] about Great chance for Vietnam navigate to Web 3.0: Experts

Producing wooden furniture for export at Trieu Phu Loc Furniture Co., Ltd, Tan Uyen Town, Binh Duong Province. — VNA/VNS Photo Wooden furniture exports from Southeast Asian markets to Australia grew sharply in the past year, with Viet Nam leading the way on US$205.6 million, up 26.4 per cent year-on-year. Following Viet Nam is Malaysia with $101.9 million and Indonesia with $61.7 million. The proportion of wooden furniture imports from these three markets accounted for 22.9 per cent of the total value of wooden furniture imports into Australia. The Import-Export Department, Ministry of Industry and Trade, quoted statistics from the General Department of Customs saying that the export value of wooden office furniture reached $28.4 million in December, a year-on-year decline of 28.6 per cent. The export value of wooden office furniture reached $370.3 million last year, down 15.9 per cent over the same period in 2021. In the structure of wooden furniture exports last year, … [Read more...] about Viet Nam leads Southeast Asia in wooden furniture exports to Australia