Oil prices

Illustrative photo (Source: AFP/VNA) Bangkok (VNA) - Thailand’s baht has bounced back sharply over the past few weeks on optimism about the Asian country’s tourism-led growth. According to Bloomberg, the currency has jumped 4.6% to about 35.3 per USD this month, leading to gains in Asia by a wide margin. In addition to rising forecasts for tourist arrivals, this progress is also being driven by a reduction in the current account deficit due to the fall in oil prices. The surge means the baht has touched a level of 35.2 forecast for the fourth quarter by analysts polled by Bloomberg , before the nation reports its GDP data on August 15. Earlier this month, a government spokesman said the country expects to attract 10 million international tourists this year, compared with a forecast of 6.1 million in April. Visitors are seen growing to 30 million people the following year. The rebound is described as significant for Thailand , given that the travel-related sector … [Read more...] about Thai baht surges on prospect of tourism recovery

Ring leader Luyen Xuan Trang and other defendants at the trial This morning, the People's Court of Binh Thuan province opened a first-instance trial of the defendant 49-year-old Luyen Xuan Trang hailing from the Northern Province of Hung Yen for smuggling petrol and oil at Duong Dong Hoa Phu Company. Trang is the leader of the largest petrol and oil smuggling ring from Singapore to Vietnam’s Binh Thuan Province with a total value of more than VND2,034 billion. According to the police indictment, in September 2015, Luyen Xuan Trang made an agreement with the General Director of Duong Dong Sai Gon Company to receive and transfer 80 percent of shares of Duong Dong Hoa Phu Company for VND430 billion. Because Duong Dong Hoa Phu Company still owes a bank loan, Luyen Xuan Trang receives all assets and liabilities of Duong Dong Hoa Phu Company and is responsible for repaying the loan. Luyen Xuan Trang discussed and agreed with Nguyen Duc Manh that Trang and Manh jointly bought 80 … [Read more...] about Ring leader on trial for smuggling petrol and oil

Its revenues were VND393 billion, most of which came from fruit (VND186 billion) and animal husbandry (VND145 billion). Growth was mainly driven by surging pig prices. "Our target pig price is VND55,000 a kilogram, and we have been selling at VND68,000 for over a month," HAGL Chairman Doan Nguyen Duc said. HAGL seeks to diversify its income in the second half this year ahead of harvesting its first 100 tons of durian while launching new pork products. The agriculture firm reported VND2.26 trillion in revenues and VND657 billion in post-tax profits for the first seven months. On the stock market HAG of HAGL closed Monday at VND12,350 a share, near its four-month high. … [Read more...] about HAGL profits up 25% on rising pig prices

Illustrative image (Photo: AFP/VNA) Bangkok - Thailand's National Economic and Social Development Council (NESDC) reckoned that the Thai economy can be affected by three scenarios taking into account the ongoing Russia-Ukraine war and other geopolitical conflicts. NESDC Deputy Secretary General Wichayayuth Boonchit said the first and most probable scenario is that if the Russia-Ukraine war continues but the global oil supply is not affected by sanctions against Russia, Thailand’s economy should expand between 2.5 and 3.5% this year. In the second but less probable scenario, he said the Thai economy will grow less than expected in 2022-2023 if more sanctions are slapped on Russia. This will result in a surge in the global price of oil and other products. The third and worst scenario is that if a conflict is sparked between the US and China. Wichayayuth said this conflict will spark a global economic recession depending on the intensity of this and other geopolitical … [Read more...] about Three scenarios affect Thai economic growth

The group has prepared pilots, flight attendants, aircraft as well as personnel and equipment as early as possible to ensure the best quality of service for passengers during the peak time of Tet holiday. Vietnam Airlines Group, including National flag carrier Vietnam Airlines, Pacific Airlines and Vietnam Air Services Company (VASCO), is preparing to cater to millions of passengers from January 6 to February 5, 2023 in anticipation of increasing travel demands during peak season of Tet (Lunar New Year) holiday. The group will increase the frequency of domestic flights between major cities of Hanoi, Danang, Ho Chi Minh City with cities and provinces across the country such as Haiphong, Vinh, Thanh Hoa, Hue, Quy Nhon, Quang Nam, Pleiku, Da Lat, Buon Ma Thuot, Nha Trang, Phu Quoc, among others. The airlines have prepared pilots, flight attendants, aircraft as well as personnel and equipment as early as possible to ensure the best quality of service for passengers. … [Read more...] about Vietnam Airlines Group to increase service in upcoming Tet

The scene of the dialogue between enterprises and the HCMC Department of Natural Resources and Environment. (Photo: SGGP) Many lingering problems It was recorded at the conference that many problems related to the issuance of certificates of land-use rights, ownership of houses and other land-attached assets, the extension of land-use rights, and contract signing and calculation of land-use fees have been reflected by enterprises. Ms. Nguyen Thanh Thao, the representative of Saigon Culture Corporation, said that before 2010, her company rented three land plots and was granted land-use rights certificates. In 2010, the company changed into a one-member limited liability company, but the land lease contract signed in 2009 was under the name of Saigon Culture Corporation. By 2021, when dealing with land rent reduction and land lease extension, tax authorities found that the company’s name on the lease contract and the seal did not match. Although the company has applied for a … [Read more...] about Legal obstacles in land use to be removed

"Cash is necessary for daily expenses, so I choose to pay later whenever possible," Minh Tien, 33, of HCMC said. He bought braces and a motorbike using pay later services. The braces cost him VND35 million ($1,495.92) but he needed to pay only VND5 million upfront, and can pay the rest over three years. The bike cost him VND25 million, and he paid VND10 and the rest will be paid over six months. Thu of HCMC bought a VND10-million TV two months ago for her daughter. "My salary goes really quickly since prices are rising, so I decided on a six-month installment scheme." Buy now, pay later provides customers and sellers "a convenient and budget-friendly payment option," Nguyen Hoang Long, director of online commerce platform Sendo, said. Demand for it is skyrocketing as it serves those who cannot access traditional loans, Moin Uddin, CEO of fintech platform SmartPay, said. Vietnam presents a positive outlook for buy now, pay later services thanks to the popularity of cashless … [Read more...] about Buy now, pay later becoming popular in Vietnam

Two Vietnamese scuba instructors based in Nha Trang City, Khanh Hoa Province are well known among international tourists coming to Vietnam to take up diving lessons. They emphasize protecting marine life during their training sessions. Nguyen Van Loc and Nguyen Tan Thanh are members of the Professional Association of Diving Instructors (PADI). With certificates of diving competence, they are qualified to provide PADI-accredited diving courses. Twenty years ago, Loc had a life-changing experience diving with a foreign visitor in Hon Mun Marine Reserve, Khanh Hoa Province. The coach spotted an unsuspecting squid, which he grabbed and later cooked it. To this his foreign student objected, saying that the payment he made was for him to witness wildlife, not the barbaric habits of his coach. “If you catch and cook it, you get one meal for yourself. But if you take care of it, you are to be commended to my fellows back home,” said the student. “When more tourists come here for … [Read more...] about Vietnamese scuba instructors popular with international students