Illustrated weekly magazine

Illustrative photo (Source: VNA) Hanoi (VNA) – The first heatwave facing the north this year has arrived, affecting mostly the northwestern area, with the highest temperature on March 21 reaching 34-36 degrees Celsius, even higher in some other places. According to the National Centre for Hydro-Meteorological Forecasting ( NCHMF ), it will be hottest on March 22 when the mercury in Hanoi will hit 36 degrees Celsius. Coupled with low humidity, the heat will remain until the end of March 24, possibly followed by thunderstorms and falling temperatures at weekend. At the same time, the southeastern region is forecast to continue experiencing hot weather for several days, with temperatures hovering around 35 – 36 degrees Celsius, even higher in specific places. The meteorological agency said in the second half of March and into April, the frequency of cold waves tends to gradually reduce and the heat will begin to appear, concentrating in the northwest and the central … [Read more...] about Northern region gets hotter this week

VPBank last week was rumoured to be close to an agreement to sell 15 per cent of stakes to Sumitomo Mitsui Financial Group, one of Japan’s largest financial companies. The estimated agreement is valued at around $1.4 billion, cited Bloomberg. “The Vietnamese bank will sell more than one billion shares to SMBC Consumer Finance, a unit of the Japanese megabank, for $1.35-1.39 each,” the newswire noted. Banks continue with consolidation game, illustration photo/ Source: Shutterstock VNDirect Securities told VIR that due to a high capital adequacy ratio of 20.5 per cent in 2022, VPBank could receive a higher credit limit from the State Bank of Vietnam this year. In addition, the brokerage predicted that the bank would invest significantly to diversify its products and expand its footprint in other segments, such as VPBank Securities in the securities market or OPES – its new non-life insurance arm. With the 15 per cent stake sale to SMBC, VPBank would consolidate and … [Read more...] about Banks continue with consolidation game

Reference exchange rate down 2 VND on March 17. Illustrative image (Source: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate at 23,620 VND/USD on March 17, down 2 VND from the previous day. With the current trading band of +/- 5%, the ceiling rate applied to commercial banks during the day is 24,801 VND/USD and the floor rate 22,439 VND/USD. The opening hour rates at commercial banks followed a declining trend. At 8:30am, Vietcombank listed the buying rate at 23,380 VND/USD, and the selling rate at 23,750 VND/USD, both down 10 VND from the end of March 16. BIDV kept both rates unchanged at 23,420 VND/USD (buying) and 23,720 VND/USD (selling). During the week from March 13-17, the daily reference exchange rate was adjusted down on the first two days and up on the following two before turning around to go down on Friday. It ended the week down 18 VND from the rate at the beginning of the week./ VNA … [Read more...] about Reference exchange rate down 2 VND on March 17

Illustrative image (Photo: internet) Bangkok (VNA) - Thailand is bracing for a hotter summer this year, with the Meteorological Department forecasting an average temperature increase of one degree Celsius from last year. The hottest weather this week has been recorded in the North of the country, with temperatures peaking at 41.5°C in Phetchabun’s Mueang district on March 23. Closer to Bangkok, the highest temperature was recorded at 38.5°C in Pathum Thani’s Khlong Luang district. Thailand will experience hot weather in the afternoons, with an average temperature of 35.5°C. The highest temperature of 40 to 43°C is expected in Sukhothai, Tak, Lampang and Mae Hong Son, while Bangkok and its surrounding provinces are predicted to experience a peak of 38 to 39°C. The summer season is expected to last until the middle of May. Chomparee also noted that this year’s cool season lasted two weeks longer than usual. It usually ends in the middle of February, but this year’s … [Read more...] about Thailand to have hotter summer this year

Beverage leaders plead for excise tax postponement, illustration photo/ Dung Minh The Vietnam Beer-Alcohol-Beverage Association met in the central city of Danang last week to discuss the Ministry of Finance’s (MoF) proposed tax increase on alcohol and sugary drinks. The association asked for a postponement of the excise tax for at least the next two years, as well as the removal of sugary drinks, barley drinks, and non-alcoholic beverages from consumption tax obligations. “We acknowledge that there may be a need for additional taxes and fees in the future, but their effects should be carefully evaluated to make sure they help business recovery and do not hinder economic progress. For instance, the government should research how the proposed tax hike could affect both consumers and businesses,” said Nguyen Quoc Viet, deputy director of the Institute for Economic and Policy Research. Viet explained that the beverage industry has grown in production, but its performance had … [Read more...] about Beverage leaders plead for excise tax postponement

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Athletics is still the strongest sport of Vietnam, and at the SEA Games, track-and-field stars are hoping to bring home at least 14 gold medals from the Cambodian meet. Vietnam has dominated the past three Games with 17 golds in 2017, 16 in 2019 and 22 at the last Games held a year later than scheduled in 2022 because of the COVID-19 pandemic. With just six weeks to go before the start of the Games, the team is training hard to keep its top spot. “We have set a target for each group," said Nguyen Manh Hung, general secretary of the Vietnam Athletics Federation . "We hope to manage to win at least 14 golds. We can predict the maximum number of golds that we can earn from the Games, but that is our tactic so I cannot reveal that information to anyone." The team has been training together since January with 53 promising members, in Hanoi, HCM City, Da Nang, Bac Ninh and Can Tho. "My team has been strengthened with … [Read more...] about Athletics ready for golden task at 32nd SEA Games

Illustrative image (Photo: VNA) Hanoi (VNA) - Vietravel Airlines, which began operations in late 2020, welcomed its first charter flight from the Republic of Korea (RoK)’s Daegu city to the south central province of Khanh Hoa at Cam Ranh international airport on March 28. It was one of the activities in the airline's expansion plans for 2023, aiming at preparing for the official launch of regular flights connecting Vietnam and the RoK to boost tourism and trade during the upcoming summer season. From March 28 to May 7, the carrier will work with its partner in the RoK to officially launch a series of 11 charter flights on the Daegu - Cam Ranh route, with a frequency of one flight every five days, and will increase the number of flights according to market demand. It is expected to carry over 2,200 Korean passengers during this period. At present, Vietravel Airlines is operating five domestic routes connecting the capital city of Hanoi and the southern largest … [Read more...] about Vietravel Airlines runs first charter flight from Daegu to Khanh Hoa

Senior Colonel Nguyen Hong Hai, PAN’s Deputy Editor-in-Chief, and representatives of the PAN received the Lao delegation. On behalf of the unit, Senior Colonel Nguyen Hong Hai expressed his delight at welcoming the Lao delegation, hoping that they would have a successful visit in Vietnam. He also briefed delegates on the PAN’s 70 years of construction and development. As an organ of the Central Military Commission (CMC) and Vietnamese Ministry of National Defense (MND), the voice of the armed forces and people, the PAN is one of the top prestigious political press agencies in the revolutionary press, disseminating both strategic tasks of the country: Building and safeguarding the fatherland. The newspaper has also made remarkable contribution to the cause of national liberation, protection and construction. In response to the strong development trend of modern media, he said, PAN’s relevant agencies have actively run their work as the model of a multimedia press agency. The … [Read more...] about Lao Institute of Information, Culture and Tourism visits PAN