Patrick lenain

Factors potentially triggering the turmoil include monetary tightening, weak economic conditions, mismanagement, loss of confidence, maturity and currency mismatches, as well as instances of outright fraud and criminal activities. Most banks are resilient and avoid such difficulties -- but not all. Consequently, financial authorities must maintain preparedness to intervene whenever necessary, all while avoiding unintended consequences that could potentially sow the seeds of future banking crises. Global banking stress The current banking turmoil is largely due to the cycle of monetary tightening. Since early 2022, central banks have been quick to increase interest rates to bring inflation under control. In the United States, the effective Fed Funds rate increased by 500 basis points in just 14 months, a speed never observed since 1988. The European Central Bank has raised its policy rates by 400 basis points since mid-2022 and indicated that more rate hikes are forthcoming. … [Read more...] about Preparedness crucial in safeguarding banking sector

Patrick Haverman, UNDP Deputy Resident Representative in Vietnam addresses the workshop (Photo:congthuong.vn) Hanoi (VNA) – Vietnam is seeing a great opportunity to access the mRNA technology for vaccine production, said Patrick Haverman, UNDP Deputy Resident Representative in Vietnam, at a workshop held by the United Nations Development Programme (UNDP) and the Health Strategy and Policy Institute (HSPI) under the Ministry of Health in Hanoi on May 22. Haverman underlined the need for Vietnam to carefully consider the steps and timelines, the scale and sources of the required investment of funds, and the development of expertise to ensure this technology transfer's effectiveness and financial sustainability. The collaboration among the key departments, institutes, enterprises, senior experts, and partners at the workshop will contribute to developing an effective national strategy to improve vaccine access in Vietnam and the broader region in the coming time. The … [Read more...] about Vietnam sees great opportunity to access mRNA vaccine production technology: UNDP official

Through international experience and collaboration among key stakeholders, Vietnam aims to become a regional leader in vaccine production. A roadmap to establish Vietnam as a regional vaccine production hub in the Association of Southeast Asian Nations (ASEAN) was highlighted at a workshop organized by the United Nations Development Programme (UNDP) and the Health Strategy and Policy Institute (HSPI) under the Vietnamese Ministry of Health in Hanoi on May 22. The roadmap outlines the steps and actions needed to strengthen Vietnam's vaccine production capacity and contribute to regional health security. At the workshop, expected to shape future strategies and actions related to vaccine production and access in Vietnam, a report was presented on the introductory package on mRNA Covid-19 vaccine production for laboratory-scale processes, which was introduced at the first R&D training in South Africa. This report provided valuable insights into the technical aspects … [Read more...] about Vietnam aims to be ASEAN’s vaccine production hub

These are the first electric trucks for garbage collection in Vietnam. Chairman of the People's Committee of Hue Vo Le Nhat said the pilot replacement of some waste collection vehicles and garbage trucks by electric garbage trucks aligns with the goals and the desire of the city towards green public transport development and promotion of the waste classification at source program in the city. "The image of Hue city as the ‘ASEAN Environmentally Sustainable City', the ‘National Green City,’ is expected to be further advertised to international friends," Nhat said. "The living and working conditions of the people are expected to be improved. The socio-economic development is to be supported, contributing to implementing the U.N.'s Sustainable Development Goals and other international commitments of Vietnam." Vietnam has approved the action program on green transformation and carbon and methane reduction of the transport sector. The program aims to bolster energy efficiency and … [Read more...] about Hue pilots electric trucks for waste collection

Asian markets surge on Fed rate hopes/ illustration photo/ Source: freepik.com With US default worries out of the way after senators passed a debt ceiling bill for President Joe Biden to sign following months of wrangling, attention has returned to the central bank's drive to defeat decades-high inflation. Traders welcomed data Thursday that showed private hiring slowed in May -- albeit at a slower pace than forecast -- and wage growth eased for a second straight month. The news bodes well for the release later in the day of the more closely followed non-farm payrolls figure, which the Fed uses as one of its crucial guides for its rates decisions. Monetary policy officials have said a softer labour market and much lower inflation were key to the bank being able to stop lifting borrowing costs. "Wage-driven inflation may be less of a concern for the economy despite robust hiring," said Nela Richardson of payroll firm ADP, which released Thursday's figures. "This is the … [Read more...] about Asian markets surge on Fed rate hopes