High level vs low level input

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

Industrial production is forecast to increase 6.6% in 2023. (Photo: VNA) HCM City (VNA) – Vietnam is predicted to record a rise of 6.6% in industrial production in 2023, according to S&P Global Market Intelligence. S&P Global noted the Vietnamese manufacturing sector continued to face challenging business conditions in the opening month of 2023. Production and new orders continued to decline. That said, there were some signs of improvement in demand as new business fell at a softer pace, helped by a renewed expansion in new export orders. The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI), released on February 1, posted 47.4 in January, up from 46.4 in December but still pointing to a solid monthly deterioration in the health of the manufacturing sector. January data signalled a further marked decline in manufacturing production, albeit one that was slightly softer than seen in December. Lower new orders were often behind falling output, with … [Read more...] about Vietnam’s industrial production to rise 6.6% in 2023: S&P Global

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

Illustrative image (Photo: baodautu.vn) Hanoi (VNA) – Vietnam is paying attention to mobilising resources to invest in developing green agriculture with an aim to raising the market share of its agricultural exports to the European Union. Last year, Vietnam’s export revenue of agro-fishery-forestry products set a record high of 53.22 billion USD, up 9.3% year-on-year. However, Europe accounted for only 11.3% of its market share. This is a modest number, although the agricultural sector has optimised many advantages of the EU- Vietnam Free Trade Agreement (EVFTA). One of the main reasons is said to be the union’s high requirements on farm imports, while Vietnam’s agricultural production has yet to meet green growth requirements. According to the World Bank’s report, agriculture is the second highest emitter, accounting for 19% of the nation’s total gas emissions in 2020. About 48% of the sector’s emissions and more than 75% of methane emissions are from rice … [Read more...] about Vietnam develops green agriculture to increase exports to EU

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

Thailand exports 7.69 million tonnes of rice in 2022, up 22.1% from a year earlier. (Photo: Reuters) Bangkok (VNA) – Thailand exported 7.69 million tonnes of rice in 2022, up 22.1% from a year earlier, the country’s Commerce Ministry said on January 31. The exports exceeded a target of 7.5 million tonnes, with top markets being Iraq, South Africa, China, and the US, it said in a statement. Thai rice exports were strong last year because of the weak baht, according to Ronnarong Phoolpipat, head of the ministry’s Trade Policy and Strategy Office. Earlier this month, the Thai Rice Exporters Association lowered its target for 2023 from 8 million tonnes to 7.5 million as the baht, which is which is now trading around 32.50 to the US dollar, has appreciated dramatically after reaching a low of 38 last October. The price of benchmark 5% white rice remains high in world markets, having risen from 465 USD a tonne in mid-December to 523 USD as of January 18, said the … [Read more...] about Thailand’s 2022 rice exports beat target

People shop for food at a market in Aceh - westernmost province of Indonesia. (Photo: AFP/VNA) Jakarta (VNA) – The Indonesian government plans to spend 476 trillion Rp (31.8 billion USD) on social assistance protection as the country is transitioning from the COVID-19 pandemic to the endemic disease phase. Indonesia’s President Joko Widodo said that his government will not abruptly revoke the massive spending on social programmes aimed at helping the people and businesses cope with the devastating economic impact of the pandemic over the last three years. Speaking at a recent meeting of the National Committee for COVID-19 Handling and National Economic Recovery (PC-PEN), Joko Widodo said that after lifting restrictions at the end of 2022, Indonesia is in an interim phase in which it must maintain caution, especially in deciding on economic measures. In contrast to other nations that have recently experienced high inflation, according to the President, Indonesia has … [Read more...] about Indonesia to spend nearly 32 billion USD on post-pandemic social protection

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