Key world energy statistics

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

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

Consumers in the UK have been increasingly keen on Vietnam’s rice, especially after ST25 was honored as the best rice variety in the world in 2019, Nguyen Canh Cuong, trade counselor at the Vietnamese Embassy in the UK, told Tuoi Tre (Youth) newspaper. UK companies have paid much attention to Vietnam’s rice due to a higher demand in their country and incentives in the UK-Vietnam Free Trade Agreement (UKVFTA). In particular, the UK has waived the import tariff on Vietnam’s fragrant rice instead of imposing a 17.4-percent tax rate as earlier. Vietnam’s rice value on the rise According to statistics from the Vietnam Trade Office in the UK, the European country’s rice imports from Vietnam rose in 2020 and 2021. In 2020, before the UKVFTA took effect, Vietnam’s rice exports to the UK surged to some 3,400 metric tons worth US$2.67 million from nearly 1,300 metric tons in the previous year. Vietnam’s rice exports to the UK fell 20 percent in volume but inched up four percent … [Read more...] about Vietnam’s rice increasingly preferred in UK

The public investment assigned to the transport ministry in 2023 was the largest ever. — Photo kinhtedothi.vn Viet Nam has been accelerating the disbursement of public investment since the beginning of this year after missing its target in 2022. The National Assembly approved the public investment plan with a total capital of over VND700 trillion (US$29.85 billion) in 2023, VND140 trillion higher than the plan in 2022 and VND260 trillion higher than 2021. At the Government’s monthly meeting last Thursday, Prime Minister Pham Minh Chinh called for management to be enhanced to speed up the progress of major projects, especially key traffic works. “The disbursement of public investment must be accelerated from the beginning of the year,” he stressed, adding that the focus must be on the project preparation works and capital allocation. Agencies and localities were also gearing up for the disbursement of public investment. Ha Noi and HCM City - the country's economic … [Read more...] about Disbursement of public investment to be accelerated in 2023

Producing wooden furniture for export at Trieu Phu Loc Furniture Co., Ltd, Tan Uyen Town, Binh Duong Province. — VNA/VNS Photo Wooden furniture exports from Southeast Asian markets to Australia grew sharply in the past year, with Viet Nam leading the way on US$205.6 million, up 26.4 per cent year-on-year. Following Viet Nam is Malaysia with $101.9 million and Indonesia with $61.7 million. The proportion of wooden furniture imports from these three markets accounted for 22.9 per cent of the total value of wooden furniture imports into Australia. The Import-Export Department, Ministry of Industry and Trade, quoted statistics from the General Department of Customs saying that the export value of wooden office furniture reached $28.4 million in December, a year-on-year decline of 28.6 per cent. The export value of wooden office furniture reached $370.3 million last year, down 15.9 per cent over the same period in 2021. In the structure of wooden furniture exports last year, … [Read more...] about Viet Nam leads Southeast Asia in wooden furniture exports to Australia

Social insurance workers provide information on the policies to people. (Photo: VNA) Hanoi (VNS/VNA) - The capital city of Hanoi’s labour market has seen positive developments after the Tet (Lunar New Year) holiday, presenting a ‘golden opportunity’ for the sustainable development and expansion of the social insurance system. Statistics from the Hanoi Department of Labour, Invalids and Social Affairs (DoLISA) revealed that only 31 companies in the city had to cut working hours or terminate contracts with their employees, which total more than 13,000. The department said that this was only a fraction compared to figures in other key labour markets. Meanwhile, last year also saw approximately 203,000 people finding new employment, an increase of 13% compared to 2021. The growth in the labour market also translated to a rise in the number of people signing up for social insurance. Phan Van Men, Director of Hanoi Social Insurance, told Ha Noi Moi (New Ha Noi) newspaper: … [Read more...] about Labour market’s growth an opportunity for improving social welfare

ChatGPT's potentials are exciting, but we also hear about its potential impacts on our lives, especially in our work life, namely it can displace white-color workers. It is both exciting and unnerving at the same time. As a writer, I want OpenAI's AI to help me with my writing. I rely on GPT-3, a generative AI model that assist writers in their writing using prompts. This essay is a collaboration between GPT-3 and me. I am describing the process that I used it step by step, and how one can take advantage of it to engage in the creative writing process. The first step is to set up an account on OpenAI to use GPT-3. There are two ways to write with GPT-3. The first way is to use OpenAI's Playground user interface. The second way, and a more technical way is to use OpenAI's Application Programming Interface. Since I can also code, I used the second method because it allows for more control in prompt design. Once the pipeline is ready, I start writing, one sentence at a time. I … [Read more...] about Collaborating with AI

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

Great chances for Vietnam to switch to Web 3.0 (Source: netweb.vn) Hanoi (VNA) – As more information technology businesses invest resources into Web 3.0, coupled with the large number of users and coders, Vietnam sees great opportunities in the blockchain market in the Southeast Asian region, say experts. Web 3.0 was born from the natural evolution of older generation Web tools combined with advanced technologies such as artificial intelligence (AI), blockchain, and the connection between users and the Internet. In other words, Web 3.0 is an upgrade to its predecessors: Web 1.0 and 2.0. In recent years, foreign investors have flocked to Vietnam and established investment funds specialising in blockchain. Capital inflows into non-fungible token (NFT) assets also skyrocketed from 37 million USD to 4.8 billion USD in 2021, Finder reported. Experts explained that Vietnam has about 5.9 million people, or 6.1% of the population, who have exposure to blockchain-enabled … [Read more...] about Great chance for Vietnam navigate to Web 3.0: Experts

The meeting was chaired by Indonesian Foreign Minister Retno Matsudi. Speaking at the event, Minister Retno Matsudi stressed that ASEAN is facing numerous challenges and instabilities. Therefore, it is neccessary to maintain solidarity, central role and vitality of ASEAN, contributing to affirming the role of ASEAN as a key factor to ensure peace, stability, and prosperity in the region. At the meeting, ASEAN foreign ministers expressed their supports and committment to collaborate with the host Indonesia to actualize the set priorities while stressing the need of improving the effeciency of ASEAN activities. The regional states agreed to consider a number of issues such as strengthening the role and functions of the Committee of Permanent Representatives to ASEAN (CPR), the ASEAN Secretariat and the ASEAN Secretary-General; or improving the efficiency of inter-sectoral and inter-pillar coordination and proposing solutions to mobilize resources for ASEAN activities. Following the … [Read more...] about 32nd ACC Meeting held in Jakarta