High level structure

In announcing its latest policy decision, the U.S. central bank scaled back to a quarter-percentage-point rate increase after a year of larger hikes and swept aside in its statement the long list of reasons, from war to the pandemic, that were driving prices higher to say simply that "inflation has eased." Yet policymakers also projected "ongoing increases" in borrowing costs would be needed, a still open-ended commitment that did not yet pinpoint when the rate hikes might stop, and pushed back against an expectation in financial markets that the Fed would pause soon and, indeed, cut rates later this year. Investors nevertheless took a dovish cue from remarks by Fed Chair Jerome Powell, who referred repeatedly during a news conference to the "disinflationary" process that now appeared to be underway. Equity markets rose as Powell spoke and investors slightly boosted bets for coming rate cuts. Meanwhile, Powell insisted that rate cuts are not in the offing, and took pains to walk … [Read more...] about Fed delivers small rate increase; Powell suggests ‘couple’ more hikes coming

UK Minister of State The Rt Hon Gregory Hands of the Department for International Trade arrived in Hanoi on February 1 to hold high level trade talks on how the UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will boost the economic firepower of the world’s most dynamic trade bloc. Minister Hands meets with Vice Minister of Industry and Trade, Tran Quoc Khanh. Upon his arrival in Hanoi, Minister Hands met with Vice Minister of Industry and Trade, Tran Quoc Khanh. With the next round of CPTPP negotiations upcoming, the UK Minister expressed. his country’s desire to finalisze accession at the earliest possible opportunity. The occasion also provided an opportunity to mark 50 years of UK-Vietnam diplomatic relations and discuss the thriving bilateral trade relationship which has increased by 12.4% over the last year and is valued at £5.9 billion. As a founding CPTPP member state, Vietnam marks the first leg of the UK … [Read more...] about “UK ready to boost CPTPP’s economic firepower”: UK Trade Minister

Fighting boldly and bravely, the Vietnamese armed forces ground down the enemy’s strength, destroyed and damaged a lot of the enemy means of warfare, dealt a great blow to the U.S. troops on the battlefield in Vietnam, reduced the position and influence of the Saigon government and troops, and shocked Washington’s senior leaders. On March 30, 1968, General Westmoreland, Commander-in-Chief of the U.S. Army in Vietnam arrived in Saigon to disseminate the U.S. government's policy of "De-Americanizing” the war. This policy replaced President Johnson's policy of "Americanizing" the war (Local war) which failed previously. On March 31, 1968, President Johnson announced that he would not run for presidency for the second term, as well as his decision to limit U.S. activities in Vietnam. He also ordered limitation of bombarding the North from the 20th parallel northwards (and completely stopping bombing the North since November 1, 1968) and sent negotiators to the two-party negotiation … [Read more...] about 1968 Spring General Offensive and Uprising’s impacts on U.S.’s global strategy

The race of interest rate hikes among commercial banks is showing signs of cooling down as many banks have adjusted down the rate by several percentage points per year after the Lunar New Year (Tết) holiday and have set stricter conditions for customers to enjoy the high rates. A Techcombank transaction office in Hanoi. Techcombank currently lists the highest deposit interest rate at 9.2 per cent per year, against 9.5 per cent per year before Tết. — Photo Techcombank At Techcombank, the highest deposit interest rate at the bank is currently 9.2 per cent per year, against 9.5 per cent per year before Tết. To enjoy the 9.2 per cent interest rate, depositors must be a VIP customer with minimum savings of VNĐ3 billion over 12 months. For regular customers, the rate for 6-month deposits at the bank is also down to 8.5 per cent per year from more than 9 per cent before Tết. At Sacombank, the highest interest rate before Tết was 9.8 per cent per year. However, … [Read more...] about Banks lower saving interest rates right after Tết

After more than a year with a lot of efforts in scientific works, he was honored as the youngest among the top ten scientists receiving the Qua Cau Vang (Golden Globe) Awards in 2022. Overcoming hardships Luong Van Thien was born to a farmer family in a poor village of Yen Thanh commune, Yen Mo district, Ninh Binh province. He remembered when he was a student, his parents had to work as hired laborers to pay for his education. Thien often asked for old books to self-study. He took time to study and made great efforts to acquire knowledge. After entering the Luong Van Tuy Gifted High School, he won numerous national-level mathematics competitions. In 2010, he was admitted to the Hanoi Medical University, but he chose to enter the Faculty of Electronics and Telecommunications of the Hanoi University of Science and Technology. At first, his parents did not agree with his choice, but then they believed in his decision because he passed the exam to the school's talented engineer … [Read more...] about Desire to dedicate to the country

Illustrative image (Photo: AFP) Hanoi (VNS/VNA) - Climate change is one of the world’s biggest threats, and reducing emissions is the priority for all countries in the world and the lodestar for investment trends. Warmer temperatures are altering weather phenomena and disrupting the balance of nature, directly affecting human activities. The devastation caused by extreme weather disasters like typhoons, floods, and heat waves is worsening in many nations. And the economic damage caused by climate change is also increasing in line with global temperatures. Major storms destroy crops, costing billions of dollars, while rebuilding after each storm and flood requires a huge amount of money. The more extreme the climate, the more it damages economies. It is a positive sign that many countries have joined the fight for net zero emissions by 2050. Many people worry that it is unrealistic given the standard pace we have already set. However, an expert in the industry believes … [Read more...] about Financing’s role in reaching net-zero emissions

Illustrative image (Photo: asean.org) Bangkok (VNA) – The Economic Intelligence Centre of the Siam Commercial Bank forecasts the CLMV countries , namely Cambodia, Laos, Myanmar and Vietnam, will gain a stronger growth momentum in 2023, but remain below its growth potential prior to the COVID-19 outbreaks. The rebound will be uneven across countries, depending on economic fundamentals and country-specific risks, the centre said in its February 1 report. SCB EIC expects that the Cambodian economy will grow 5.5% this year, 3.0% in Laos and Myanmar, and 6.2% in Vietnam. According to the report, domestic demand and tourism will be key drivers for CLMV economic recovery in 2023. Domestic demand will gain support from improvements in the labour market, as seen in Vietnam’s Q4/22 employment soaring to its highest level since the COVID-19 outbreaks. Meanwhile, the service sector will benefit from rising tourist arrivals this year, particularly Chinese visitors who made up … [Read more...] about CLMV countries to grow stronger this year: Thai bank

Police in Pakistan have detained 23 people in connection to a blast at a mosque inside a police headquarters that killed 101 people, a senior official who asked not to be named said Wednesday. A policeman (R), who was injured in a mosque suicide blast inside a police headquarters, recovers in a hospital in Peshawar on February 1, 2023. Authorities are also probing the possibility that people inside the compound helped to coordinate the attack, the senior provincial police official told AFP on condition of anonymity. A suicide bomber slipped undetected into a highly sensitive compound in northwest Peshawar and detonated explosives among a row of worshippers in the compound's mosque on Monday, causing a wall to collapse and crush officers. "We have detained people from the police line (headquarters) to get to the bottom of how the explosive material made its way in and to see if any police officials were also involved in the attack," the senior official said. … [Read more...] about Pakistan police detain 23 suspects after deadly mosque blast