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Brent crude futures crawled up 16 cents, or 0.2%, to $80.10 a barrel at 0022 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 15 cents, also 0.2% higher, to $73.54 a barrel. Last Friday, WTI and Brent slid 3% after strong U.S. jobs data raised concerns that the Federal Reserve would keep raising interest rates, which in turn boosted the dollar. While recession fears dominated the market last week, on Sunday International Energy Agency (IEA) Executive Director Fatih Birol highlighted that China's recovery remains a key driver for oil prices. The IEA expects half of global oil demand growth this year will come from China, where Birol said jet fuel demand was surging. He said depending on how strong that recovery is, the Organization of Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, may have to reassess their decision to cut output by 2 million barrels per day through 2023. "If demand goes up very strongly, if the Chinese economy … [Read more...] about Oil prices edge higher as IEA’s Birol talks up China demand outlook

With your experience as a general manager for 5-star hotels and resorts in Thailand and elsewhere, what successful experiences you have gained? The most challenging experience was opening four Accor resorts post-pandemic and facing operational issues with the operating systems, and enticing staff back to work and preparing for the return of the tourism industry. My team and I faced this challenge and managed successfully to open all four resorts and deliver the standards of guest experience we are renowned for. My teams’ commitment to the tourism industry and their passion made it possible. Teamwork was the key strength and the main factor in our success. David Coyle - the newly appointed general manager of Grand Mercure Danang Hotel What differences are there between the Thai and Vietnamese tourism markets? The Thailand tourism industry returned quicker and stronger than Vietnam for sure and this was attributable to the Phuket sandbox as well as the … [Read more...] about Grand Mercure Danang prepared for new evolving market

Illustrative image (Photo: VNA) Hanoi (VNA) - HSBC experts have predicted that Vietnam's economy will continue to gain traction, despite a less rosy external picture. According to the bank, Vietnam saw a year-on-year increase of 17% in exports in the first six months of 2022, but it will be hard for overseas shipments to meet expectations in the last half of the year. In its "Vietnam at a glance" report released on August 17, the bank said that after impressive export growth in the first half of 2022, a slower-than-expected pace was recorded at the start of the second half. The main cause is a growth slowdown in the electronics industry, especially mobile phones. Samsung's second-quarter results show that demand for consumer electronics is weakening, affecting the smartphone, TV, and other segments. While textile, garment and footwear exports rose sharply, by 30% from a year earlier, the Vietnam Textile and Apparel Association forecast the amount ordered … [Read more...] about Vietnam’s economy continues to gain traction: HSBC

VinAI Research Founding Director & CEO Bui Hai Hung presents flowers to speakers, and partners accompanying AI Day 2022 (Photo: VNA). Hanoi (VNA) – Artificial Intelligence (AI) Day 2022 officially opened in Hanoi on August 26, attended by both leading Vietnamese and foreign AI experts. The two-day event is organised by VinAI Research - the tech arm of Vingroup, the biggest conglomerate of Vietnam, with the support of the Ministry of Science and Technology, and the National Innovation Centre. It brings together leading researchers, policymakers and practitioners from all over the world to exchange on how AI is transforming societies, economies, and the environment. Under the theme of ‘Empower the Future’, AI Day 2022 features three tracks: AI for Global Equality, AI for Sustainable Development, and AI for Safety. Specifically, during the discussion on AI and Sustainable Development, speakers analyse the social and environmental impacts of designing, developing and … [Read more...] about AI Day 2022 kicked off, seeking ways to develop AI industry in Vietnam

Delegates at the 26th Meeting of ASEAN Tourism Ministers (Photo: VNA) Jakarta – Deputy Minister of Culture, Sports and Tourism Doan Van Viet has called on other ASEAN member countries to support and cooperate with each other in tourism development. Speaking at a press conference on the ASEAN Tourism Forum (ATF) 2023 in Indonesia on February 5, the official said apart from traditional markets that have experienced difficulties, ASEAN should seek new ones and adjust some policies relating to aviation connection and visas. He also suggested the bloc continue implementing tourism development strategies for 2016-2025 and adjust and update them after each meeting of ASEAN tourism ministers. Viet described culture as the core value of the regional tourism and a unique factor helping the countries attract tourists. Sharing Viet’s view, Philippine Tourism Secretary Christina Garcia Frasco also suggested the ASEAN countries come together to offer unified tourism packages. “We have … [Read more...] about Vietnam calls for ASEAN cooperation to spur tourism development

The new office in Hanoi signifies Frasers Property’s commitment to Vietnam’s economic development, underscoring the confidence it has in the long-term growth potential across the country. The new office is located in the HCO Building in Hoan Kiem district within Hanoi’s bustling downtown, while Frasers Property’s premier representative office continues to be located at Melinh Point within Ho Chi Minh City’s central business district. This expansion is supported by a strong team to match Frasers Property's ambitions. Frasers Property CEO Panote Sirivadhanabhakdi (front right) and FPV CEO Lim Hua Tiong (front left) on the opening day of the new office Edwin Tan, deputy CEO of FPV, said, "The company has seen significant growth in the scale and operation of our business over the past few years, and we are now looking to expand and scale nationally." “The opening of our Hanoi office is part of FPV's overall growth plan, bringing us closer to our valued real estate … [Read more...] about Frasers Property opens Hanoi office