Foreign banks have been expressing eagerness to jump on the mergers and acquisitions (M&A) bandwagon in the banking sector. The case of JTrust conglomerate from Japan recently joining the restructuring of Construction Bank (CBank) has raised the possibility of cross-border bank M&A accelerating the speed of banks reorganising in Vietnam with the government’s support. JTrust has announced that they have carried out intensive research to understand the restructuring process of CBank, according to Nobiru Adachi, director of JTrust Asia. They also propose some supportive actions from the Vietnamese government and the State Bank of Vietnam (SBV). Construction Bank (CBank) is on the cusp of restructuring According to Deputy Prime Minister Vuong Dinh Hue, the Vietnamese government would like to co-operate with clients who could boost the restructuring process of CBank and alleviate Cbank’s financial hardships. The government guarantees to provide favourable … [Read more...] about Foreign investors to join restructuring of Vietnamese banking system
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Innovative start-ups will enjoy financial support from the National Technology Innovation Foundation (NATIF) fund, according to a directive issued by Prime Minister Nguyễn Xuân Phúc.— VNA/VNS Photo HÀ NỘI — Innovative start-ups will enjoy financial support from the National Technology Innovation Foundation (NATIF) fund, according to a directive issued by Prime Minister Nguyễn Xuân Phúc. Phúc asked the Ministry of Science and Technology (MoST) to draft a charter on the operation of NATIF to include innovative enterprises as recipients of the fund by the end of the year. Under the directive, innovative start-ups will enjoy preferential loans and guarantees to incubate new ideas and business models. Star-ups will need to ensure they comply with the Law on Support for Small- and Medium-Sized Enterprises as well as the criteria set out by the fund. The directive aims to lure investment in innovative start-ups from domestic … [Read more...] about PM urges increased support for innovative start-ups
The US-China over artificial intelligence is heating up, but some warn the US could be over-reacting. "China is betting on AI and investing in AI and deploying AI on a scale no other country is doing," says Abishur Prakash, a futurist and author of books about the effect of artificial intelligence (AI) on geopolitics. As developments in AI accelerate, some in the US fear that the ability of China's powerful central government to marshal data and pour resources into the field will push it ahead. The country has announced billions in funding for start-ups, launched programmes to woo researchers from overseas and streamlined its data policies. It has announced news-reading robots and AI-powered strategy for foreign relations. Perhaps most alarming to the US are its efforts to incorporate it into its military. In the last few years, Washington has toughened oversight of Chinese investments, banned US firms from doing business with certain Chinese companies and increased criminal … [Read more...] about Is China gaining an edge in artificial intelligence?
Various types of confectionery containing cannabis have been found being sold online in Vietnam, prompting competent authorities to tighten control over such products. A lot of online stores have been selling and advertising candies, lollipops, and chocolate with cannabis flavor on social media. These products do not bear any brands or labels, while shop owners advertise them as “exotic foods” to attract buyers, who are mainly young people liking to experience new things. The cannabis lollipops often sell for VND27,000-35,000 (US$1.17-1.51) apiece. These shops also offer white and dark chocolate that contains cannabis oil or seeds. Most sellers claim their confectionery is imported from Europe and restocked once every two weeks. H.N., one of the sellers, said that the products come at an affordable price because they only contain a small amount of cannabis. N. stated she began selling the type of confectionery in late 2018 and has delivered about 70 orders so far. … [Read more...] about In Vietnam, cannabis candies traded widely online
“Can you believe it, our Thăng Long (Ascending Dragon) has become Hạ Long (Descending Dragon)!” exclaimed one graduate of the school, one of the top public schools in Hanoi. Vietnamese students unhappy about the number of entrance exams they need to take High-school finals: one exam, two purposes This year, nearly 86,000 students had to sit for the entrance exam to get into the public high schools in the city. The accumulated scores of the previous years were not counted. Students must pass the exam to get a place at the city’s public high schools. But the public schools can sit only 63,000 students at most, which means only 73 per cent of the city’s high school-age students will get a place to study. The rest can apply to private schools or vocational schools. This makes the exam even more dreadful for students and places even heavier pressure on the parents. “I’m here to apply for a reassessment or wait for the school to lower its … [Read more...] about Feeling the heat with high school exams