According to the National Center for Hydro-meteorological Forecasting, the low-pressure area was formed on a low-pressure trough passing through the North East Sea area this morning. At 7 am this morning, the low pressure area was located at about 15.5 - 16.5 degrees North latitude and 117.5 - 118.5 degrees East longitude. It is forecasted that in the next 24 hours, the low-pressure area will move slowly to the northwest and continue to be strong. Due to the influence of the low-pressure trough connected to the low-pressure area, there will be heavy rain today in the North East Sea and Middle East Sea (including the waters of the Paracel Islands) and there will be showers and strong thunderstorms in the Gulf of Tonkin; hence, the Gulf of Tonkin will experience winds gusting to level 7-8. In the South East Sea area (including the waters of Truong Sa archipelago), the sea from Binh Thuan to Ca Mau will experience rough sea and winds gusting to level 5-7 and waves as high as … [Read more...] about Depression forming on East Sea, bad weather in tourist places: Meteorologists
Drilling jobs in middle east
Vietnam needs skilled workforce to become upper-middle-income economy by 2035: WB
Vietnam will need a skilled workforce to transform itself into an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named “Taking Stock: Educate to Grow”. Illustrative image (Photo: VNA) In its bi-annual report, the lender said: “Vietnam needs a workforce with 21st century skills to grow. As the economy moves from being driven by low skill and low wage jobs in manufacturing and services towards a more innovation driven growth model built on higher value-added industries and services, Vietnam’s workforce will need to attain higher level and more relevant skills.” The Vietnamese Government’s Socio-economic Development Strategy for 2021-2030 says as much, aiming to use scientific, technological, innovative, and digitally transformative knowledge and build quality human resources as key drivers of higher productivity and future economic growth. To achieve these goals, Vietnam needs to reform its education system … [Read more...] about Vietnam needs skilled workforce to become upper-middle-income economy by 2035: WB
Analysis: As wheat prices soar, the world’s consumers vote with their feet
Global wheat consumption is headed for its biggest annual decline in decades as record inflation forces consumers and companies to use less and replace the grain with cheaper alternatives, amid growing food insecurity. Consumers may face even higher wheat prices in the second half of 2022 as importers, who until now have supplied cargoes bought several months earlier at cheaper prices, pass on the costs from when wheat prices scaled decade highs in May. Global wheat consumption in July-December could drop by 5%-8% from a year ago, analysts, traders and millers say, much faster than the U.S. Department of Agriculture's forecast 1% contraction. "There is going to be a drop in wheat demand for animal feed in Europe and China. Wheat demand for human consumption has also slowed in key importing countries around the world," said Erin Collier, an economist at UN's Food and Agriculture Organisation. "High prices have raised food security worries in parts of Asia and Africa where … [Read more...] about Analysis: As wheat prices soar, the world’s consumers vote with their feet
HSBC H1 pre-tax profit falls, dismisses calls for split
Pre-tax earnings sank 15 percent to US$9.2 billion after it took a $1.1-billion hit on possible credit losses "to reflect heightened economic uncertainty and inflation", HSBC said. The result "reflected a more normalised level of expected credit losses compared with the Covid-19 releases made last year, as well as the macroeconomic impact of the Russia-Ukraine war", added Chief Executive Noel Quinn. HSBC H1 pre-tax profit falls, dismisses calls for split - illustration photo / ISAAC LAWRENCE / AFP However, net profit rose 14 percent to US$8.3 billion in the reporting period partly on a large one-off tax credit. - Quarterly dividends - The annual revenue outlook was positive, Quinn noted, with net interest income expected to reach at least US$31 billion this year and US$37 billion next year as interest rates rise. The group was confident of achieving its best returns in a decade in 2023. "We also intend to revert to quarterly dividends in 2023," he added. … [Read more...] about HSBC H1 pre-tax profit falls, dismisses calls for split
Vietnam expands relations with ASEAN Partners
Canada, New Zealand, and the UK are three out of 11 Dialogue Partners of ASEAN. Vietnam’s Foreign Minister Bui Thanh Son held a series of meetings with his counterparts of ASEAN Partners on the sidelines of the 55th ASEAN Foreign Ministers’ Meeting (AMM-55) and Related Meetings held in Phnom Penh, Cambodia on August 3. The meetings aimed at intensifying cooperation and mutual support at international forums through the talks with Canada’s Minister of Small Business, Export Promotion and International Trade Mary Ng, New Zealand’s Foreign Minister Nanaia Mahuta, and UK Minister for Asia and the Middle East at the Foreign, Commonwealth & Development Office Amanda Milling. Vietnam's Foreign Minister Bui Thanh Son and Canada’s Minister of Small Business, Export Promotion and International Trade Mary Ng in Cambodia on August 3. Photos: Baoquocte Canada In talks with Mary Ng, Son suggested Canada should enhance cooperation in regional mechanisms, … [Read more...] about Vietnam expands relations with ASEAN Partners
Vietnamese Gov’t halves MFN tariff on petrol products to 10%
Such a move will help Vietnam diversify oil import sources from China, the US, and the Middle East, and avoid dependence on certain partners amid growing global uncertainties. The Vietnamese Government has agreed to halve the most favored nation (MFN) tariff on petroleum products from 20% to 10%. A gas station on Giai Phong Street, Hanoi. Photo: Viet Dung The decision, which took effect on August 8, was mentioned in the Government’s decree No.51/2022 on the revision of MFN tariff on fuel and gas products. In practice, a 10% cut in MFN tariff would not help Vietnam curb rising petrol prices, as the share of petrol imports subject to such a tariff is insignificant in the total domestic petrol consumption volume. Experts, however, expected such a move would diversify Vietnam’s import sources from countries such as China, the US, or those in the Middle East, and avoid the dependence on certain partners amid growing global uncertainties. The Ministry of … [Read more...] about Vietnamese Gov’t halves MFN tariff on petrol products to 10%
