Global oil market

Illustrative image (Photo: AFP/VNA) Bangkok - Thailand's National Economic and Social Development Council (NESDC) reckoned that the Thai economy can be affected by three scenarios taking into account the ongoing Russia-Ukraine war and other geopolitical conflicts. NESDC Deputy Secretary General Wichayayuth Boonchit said the first and most probable scenario is that if the Russia-Ukraine war continues but the global oil supply is not affected by sanctions against Russia, Thailand’s economy should expand between 2.5 and 3.5% this year. In the second but less probable scenario, he said the Thai economy will grow less than expected in 2022-2023 if more sanctions are slapped on Russia. This will result in a surge in the global price of oil and other products. The third and worst scenario is that if a conflict is sparked between the US and China. Wichayayuth said this conflict will spark a global economic recession depending on the intensity of this and other geopolitical … [Read more...] about Three scenarios affect Thai economic growth

Ring leader Luyen Xuan Trang and other defendants at the trial This morning, the People's Court of Binh Thuan province opened a first-instance trial of the defendant 49-year-old Luyen Xuan Trang hailing from the Northern Province of Hung Yen for smuggling petrol and oil at Duong Dong Hoa Phu Company. Trang is the leader of the largest petrol and oil smuggling ring from Singapore to Vietnam’s Binh Thuan Province with a total value of more than VND2,034 billion. According to the police indictment, in September 2015, Luyen Xuan Trang made an agreement with the General Director of Duong Dong Sai Gon Company to receive and transfer 80 percent of shares of Duong Dong Hoa Phu Company for VND430 billion. Because Duong Dong Hoa Phu Company still owes a bank loan, Luyen Xuan Trang receives all assets and liabilities of Duong Dong Hoa Phu Company and is responsible for repaying the loan. Luyen Xuan Trang discussed and agreed with Nguyen Duc Manh that Trang and Manh jointly bought 80 … [Read more...] about Ring leader on trial for smuggling petrol and oil

Implemented since 2013, the PMSA Scholarship not only helps talented and ambitious New Zealand students have opportunity to study and pratice in dynamic Asian countries, but also gives them the opportunity to live and experience Eastern culture. Vietnam is currently one of the favorite destinations on the map of Asian for New Zealand students when applying for PMSA Scholarship. From 2013 to 2019, 143 New Zealand students chose Vietnam as a destination for intership and resreach. The promotion of Vietnam as a destination for New Zealand students to receive PMSA Scholarship to increase regional understading is an important part of the educational cooperation between Vietnam – New Zealand, and is concretized as one of the goals of the Strategic Cooperation Plan on Education for the period 2020 – 2023 between the Vietnamese Ministry of Educaion and Training and Education New Zealand – ENZ. Ben Burrowes, Regional Director, Asia at Education New Zealand, said: “Global … [Read more...] about 52 New Zealand students select Vietnam for their journey to become global citizens

Women of Red Dao ethnic minority in their traditional attire. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam has climbed four places on World Economic Forum’s Global Gender Gap Index 2022 in the past year, from 87th to 83rd place out of 146 countries, with a score of 0.705/1. The increase is thanks to "mild improvements" recorded in closing the gender gaps across the four main components of the index: Economic Participation and Opportunity, Educational Attainment, Health and Survival, and Political Empowerment. In terms of closing the gap in Economic Participation and Opportunity, Vietnam is ranked 31st, behind countries like Sweden (5th), the US (22nd), Kenya (6th), and regional neighbours like Laos (1st), Thailand (15th), or the Philippines (16th), out of 146 countries assessed. Indicators at this level reveal that lower workforce participation and lower parity in workforce participation have both contributed to poorer gender outcomes, the report said. “While parity in … [Read more...] about Vietnam moves up four places on 2022 Global Gender Gap Index

Benchmark indices settled higher on Monday morning, backed by many large-cap stocks. The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) rose 11.09 points, or 0.88 per cent, to 1,273.42 points. The market breadth was positive with 273 stocks increasing, while 142 declined. Liquidity continued to improve, of which matching value on the southern market climbed by 35.2 per cent to over VND8.2 trillion (US$351.7 million), equal to a matching volume of 345 million shares. The index's gains was mainly thanked to pillar stocks, with the VN30-Index, which tracks the 30 biggest stocks on the HoSE, posting a rise of 11.93 points, or 0.93 per cent, to 1,292.89 points. In the VN30 basket, 22 stocks inched up, while four slid and four stayed unchanged. Leading the uptrend was bank, real estate and IT stocks. Specifically, BIDV was the biggest gainer with an increase of 4.08 per cent, followed by Vinhomes (VHM), Sahabank (SHB), FPT Corporation (FPT) and Vietinbank (CTG), of which SHB … [Read more...] about Indices pickup on pillar stocks

The Smart Operation Center of Binh Chanh District in Ho Chi Minh City, launched in April 2022. (Photo: SGGP) Vietnam Electricyt Group (EVN) reported that it has a great quantity of customers, nearly 90 percent of whom are individuals in households. Its electricity services are linked to the National Population Database via the National Public Service e-Portal, and have so far served clients better when eliminating a lot of documents in administrative procedures thanks to the digital transformation. EVN also employs cashless payment via Mobile Money of the intermediary of VNPT, Viettel, MobiFone. The rate of cashless payment for EVN now accounts for 95 percent. Similarly, Vietnam Social Security has completed its database for over 98 million Vietnamese citizens in 27 million households nationwide. It has introduced the app VssID – digital social security app – for participants to monitor their participation in social insurance and health insurance. The app has been downloaded and … [Read more...] about Developing digital citizen ecosystem becomes inevitable in Vietnam

The index closed 11.87 points higher after gaining 10.26 points Friday. Trading on the Ho Chi Minh Stock Exchange increased by 18.77% to VND15.51 trillion ($662.69 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers gain. BID of lender BIDV rose 4.6% to a four-month high. HDB of lender HDBank also hit four-month high after climbing 3.5%. Other gainers included MWG of electronics retailer Mobile World, up 3.2%, CTG of lender VietinBank, up 2.8%, and FPT of IT giant FPT Corp, up 2.8%. Only four blue chips bucked the trend, with VNM of dairy giant Vinamilk and SSI of brokerage SSI Securities both losing 0.6%. BVH of insurance company Bao Viet Holdings closed 0.5% lower, and GAS of Petrovietnam Gas dropped 0.3%. Foreign investors were net buyers to the tune of VND65.19 billion, focusing of HPG of steelmaker Hoa Phat, HBD, and CTG. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, fell 0.18% while the UPCoM-Index … [Read more...] about VN-Index posts biggest one-day jump in fortnight

Illustrative image (Source: The Star) Kuala Lumpur (VNA) - Malaysia’s semiconductor industry, which takes up 13% of global chip assembly and testing market share, is set to benefit from the US CHIPS and Science Act . The Act, signed by President Joe Biden on August 9, commits over 280 billion USD in federal funding which includes 52.7 billion USD in subsidies to support semiconductor production and research in the US. Malaysia Semiconductor Industry Association (MSIA) President Datuk Seri Wong Siew Hai said under the Act, the world’s largest economy is expected to build state-of-the-art chip fabrication (fab) plants with process technology of seven nanometres or below. If they build more leading-edge fabs like this in the US, they will need more assembly and testing services, as the current capacity will not be enough to cater to the new fab capacity. From that perspective, Malaysia will benefit because the country is still one of the most attractive and competitive … [Read more...] about Malaysia’s semiconductor industry to benefit from US’s new act

The Ministry of Health states that Protamine sulfate is a drug on the list of rare drugs that should be given priority in consideration for the issuance of a circulation registration certificate Accordingly, the Ministry of Health stated that Protamine sulfate is a drug on the list of rare drugs that should be given priority in consideration for the issuance of a circulation registration certificate; however, no facility has so far submitted an application for the circulation registration of medicines with the active ingredient Protamine sulfate in Vietnam. Recently, the Drug Administration of Vietnam has licensed many establishments to import injectable drugs containing the active ingredient Protamine sulfate (which has not yet been granted a circulation registration certificate) to meet the special treatment needs of medical examination and treatment establishments. according to the provisions of Article 68 of the Government’s Decree No. 54/2017/ND-CP detailing several … [Read more...] about Health Ministry informs lack of hemostatic, anticoagulant drugs in heart surgery

According to the municipal Department of Labor, Invalids and Social Affairs, 170,338 laborers working for businesses in the capital city, have received aid worth 85.1 billion VND, and 6,796 of those back to work have got a total of 7.65 billion VND. Director of the municipal Department of Labor, Invalids and Social Affairs Bach Lien Huong said the support plan has been performed swiftly and timely. The municipal People’s Committee has authorised district-level People's Committee to appraise, approve, and implement the disbursement of support for laborers. Enterprises have been guided to make dossiers requesting support for their laborers in order to avoid backlog of dossiers. The department has proposed the Ministry of Labor, Invalids and Social Affairs to extend the application deadline for another month to maximize support for workers facing difficulties due to the COVID-19 pandemic. Decision No.08/QD-TTg dated March 28, 2022 aims to assist workers who face housing … [Read more...] about Over 177,989 Hanoi laborers benefit from housing rent support policy