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Nothing to lose: Vietnamese crypto investors rest hopes on unlisted coin

March 4, 2021 by tuoitrenews.vn

Armed with little more than a smartphone and a dream, inexperienced cryptocurrency investors in Vietnam are hoping to hit it big with Pi – a cryptocurrency that can be mined from a phone.

As the crypto-craze in Vietnam continues being fueled by skyrocketing bitcoin prices and overnight millionaires, investors in the country are looking for low-barrier avenues to make their own fortunes on digital currency.

Enter Pi, a relatively new digital token that can be mined through the Pi Network app, advertised as “breakthrough tech [that] allows you to mine [Pi] on your phone without draining your battery.”

Unlike conventional cryptocurrency mining, which involves the use of significant computer power to verify the legitimacy of transactions in order to earn tokens as a reward, obtaining Pi only requires ‘miners’ to log into the application and tap a button every few hours.

With such a low barrier to entry, Pi mining has pulled in scores of Vietnamese crypto-newbies in recent weeks.

“We’ve missed the boat on bitcoin, so many of us have switched to mining Pi,” said Duc Danh, a Facebook user in Ho Chi Minh City.

“There’s nothing to lose.

“After a few years, if the project succeeds, each Pi could be worth dozens of U.S. dollars.”

Also in on the Pi hype is Vinh from Phu Nhuan District, a Pi miner who has recruited 70 other ‘miners’ and aggregated over 1,000 Pi coins for doing so as part of a Pi Network program akin to a multi-level marketing scheme.

“Pi mining costs nothing but bits of phone storage,” Vinh argued.

“What if the price shoots up to a few hundred U.S. dollars in the future?

“No one expected bitcoin to soar to $50,000.”

New members on the Pi Network receive one free Pi coin and start with a mining speed of 0.1 Pi per hour.

This velocity will increase with more accepted referrals, thus incentivizing users to gather as many new recruits under their umbrella as possible.

On Facebook, Pi Network groups have amassed hundreds of thousands of members curious about crypto mining, Pi’s identity verification system, and security.

K., a newbie in one of these groups, shared great optimism for the cryptocurrency.

“I learnt about Pi the other day on Facebook, and have had high hopes for it ever since,” he said.

Despite not being listed on big-name cryptocurrency exchanges, Pi’s trading value is already receiving real-world recognition, with one coffee shop in Ho Chi Minh City accepting the token as payment.

There are also reports of an e-commerce platform that accepts Pi as payment at a rate of VND100,000 ($4.5) for one Pi token, though the website was taken down on February 28.

No free lunch

Vietnamese users should take careful consideration before joining the Pi Network, said Dang Minh Tuan, a blockchain expert at the Posts and Telecommunications Institute of Technology in Hanoi, during a conversation with Tuoi Tre (Youth) newspaper.

The most obvious thing, according to Tuan, is the risk of giving away personal data to the app developers.

With a community estimated at over 15 million users worldwide, Pi is currently a gold mine of personal data that can be abused for targeted ads on Google, Facebook, and TikTok.

On top of that, Pi’s core team has not yet registered itself as a legal entity, which renders the contracts and ownership accords between users and Pi unprotected by law.

Pi has also not yet released its source code to the public, making the aggregate supply and demand of Pi tokens unidentifiable.

This indicates a huge risk for users involved because the developers have the power to inflate the currency as they please.

Sharing the skeptic’s view, financial expert Lam Minh Chanh sounded the alarm about scams in the likes of Onecoin, Skyway, or MyAladdinz.

According to Chanh, Pi is not completely free as users have to invest a great amount of time and phone resources.

They also face data security risks in return for the hopes of high investment returns that are fanned by vague speculation.

“Miners are unlikely to get rich. There is no free lunch,” he said.

According to Nguyen Hoang Minh, deputy director of the State Bank branch in Ho Chi Minh City, bitcoin and other similar types of cryptocurrency are not methods of payment compliant with law in Vietnam.

Issuing, supplying, and using bitcoin as well as other similar types of cryptocurrency as forms of payment are also prohibited.

Accordingly, users and suppliers of cryptocurrency in the country will be declared culpable and subject to penalties.

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‘Workation’: The rise of a hybrid travel trend after the pandemic

March 4, 2021 by hanoitimes.vn

The Hanoitimes – According to the survey, 52% of Vietnamese travelers have already considered booking somewhere to stay in order to work from a different destination, while 57% would be willing to quarantine if they could work remotely.

A recently survey conducted by Booking.com showed that workcation looks set to form a key part of people future travels, at least for the next couple of years.

‘Workation’, as the word suggests, is ‘Work’ + ‘Vacation’ and involves working away from office, blending leisure with business. While not a completely new concept, it seems to garner the attention of travelers worldwide since the outbreak of Covid-19 last year that meant working from home was the new normal.

Post Covid-19 pandemic: Remote working is becoming a likely long-term reality as health and safety is a top priority. Photo: Booking.com.

According to the survey, 52% of Vietnamese travelers have already considered booking somewhere to stay in order to work from a different destination, while 57% would be willing to quarantine if they could work remotely.

“Remote working is becoming a likely long-term reality as health and safety is a top priority in the current environment,” Anthony Lu, Regional Director, Vietnam at Booking.com said.

He also predicts that instead of hotel, more work-friendly  accommodation alternatives, like homes and apartments will be on high demand by for both business and leisure travelers who are looking to work remotely.

In addition, more and more travelers think that having relaxing  while during a business trip is an essential, especially on the “new normal” of working  after Covid-19 pandemic.

Accordingly, 58% of Vietnamese travelers on the survey said they would take the opportunity to extend any business trip so that they could schedule some leisure time. Many are also likely to add a week or two to their holiday in order to work remotely.

More comfortable workspaces with fewer interruptions give individuals more time to focus and be more productive in their work, while also travelling and unwinding to improve their wellbeing. Photo: Booking.com.

Although working from one’s own home has its perks in the coming time, people still want to book somewhere to stay for a welcome change of scenery.

Laptops become the newest travel necessity of 2021, with 61% agreeing that due to the increase in working from home and reliance on technology, business travel will be considered less essential than before. Instead, “workation” may become more prevalent and preferable.

These travelers are mostly looking for accommodation that has home office facilities, fast WiFi and most importantly, a spectacular view or cozy area to help make the workday fly by. Good health and safety precautions at each destination is again a top priority. It is tough to focus on work if our mind is caught up with safety or security concerns around the property.

“There is always a way to jazz up work and yet achieve your travel passion, now more than ever. Travelers could now set themselves free from the long-working time of nine hours for five consecutive days at the office because they can work from anywhere,” experts from Booking.com said.

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System error hinders recovery of main index

March 4, 2021 by english.thesaigontimes.vn

System error hinders recovery of main index

The Saigon Times

An electronic stock quotation board shows local stock prices at a brokerage firm in HCMC. The benchmark VN-Index of the Hochiminh Stock Exchange closed in negative territory today, March 4 – PHOTO: THANH HOA

HCMC – The benchmark VN-Index of the Hochiminh Stock Exchange closed in negative territory today, March 4, as order placing activities were slowed down due to a system error which has recently occurred on the bourse, especially in the afternoon.

With the number of decliners nearly quadrupling that of advancers at 362 to 95, the main index lost 18.43 points, or 1.55% against the previous session at 1,168.52.

Turnover on the HCMC market improved over 6% in volume and 10% in value over the session earlier at more than 670 million shares and some VND16.8 trillion. Block deals contributed around VND1.5 trillion to the total value.

In the VN30 basket, financial stocks deeply declined, with financial service provider TCH, brokerage SSI, lenders TPB, STB, TCB, MBB plunging 3-4.2%.

Besides this, insurer BVH, consumer goods producer MSN, tech firm FPT, lender BID, retailer VRE dropped 2.1-2.8%, while lender VCB, housing developer VHM, steelmaker HPG and some others fell slightly.

Steelmaker HPG led the HCMC market by liquidity with nearly 28 million shares changing hands. Lenders STB, MBB, TCB reported the respective matching volume of 23.5 million, 23.1 million, 16.1 million shares.

Meanwhile, a host of speculative stocks made gains, including FLC, PVD, PVT, SCR, GEX, and DCM. Of them, property group FLC saw over 23.6 million shares transacted. Also, TLH, TGG, and DQC were among outstanding winners as they hit their upper limits.

In contrast to the southern bourse, trading on the northern bourse was upbeat. The HNX-Index added 1.67 points, or 0.66% versus Wednesday at 255.77. Notably, oil and gas stock PVS soared a whopping 8.4% and was the most actively traded stock on the Hanoi market, with over 27 million shares traded.

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Factories in Hai Duong to conduct routine COVID-19 testing for employees

March 3, 2021 by en.vietnamplus.vn

Factories in Hai Duong to conduct routine COVID-19 testing for employees hinh anh 1 Workers at clothing factory Haivina in Gia Loc district, Hai Duong province, are tested for COVID-19 before resuming work. (Photo: VNA)

Hai Duong (VNS/VNA) – Hai Duong province’s management board of industrial zones (IZs) has asked enterprises in the locality to routinely test their employees and managers for COVID-19 .

This is one of the requests set for the enterprises regarding production plans when the COVID-19 pandemic is brought under control.

According to the management board, factories at IZs in Kim Thanh district can resume work but they must follow the Ministry of Health’s regulations on COVID-19 prevention.

Specifically, test results for all employees at the enterprises must show that they are negative. Enterprises must also regularly clean the environment, disinfect the workplace and dormitories (if any).

All staff must follow the Health Ministry’s 5K message: Khau trang (face mask) – Khu khuan (disinfection) – Khoang cach (distance) – Khong tu tap (no gathering) – Khai bao y te (health declaration).

It is necessary for enterprises to organise the supervision of compliance with pandemic prevention rules.

The enterprises are urged to set up a focus point to contact the Steering Committee for COVID-19 Prevention and Control of Kim Thanh district when epidemiological factors emerge to coordinate, even when in doubt.

Owners of factories are responsible for COVID-19 prevention and control work at their establishments and take responsibility before the law for the emergence of the pandemic due to subjective factors.

For enterprises with employees who test positive for COVID-19, they are requested to urgently take samples from those who haven’t been tested.

It’s a must for enterprises to make a business plan associated with the prevention and control of the pandemic. Coordination with local authorities to review and thoroughly handle the disease risk factors in businesses or from employees is also included in the plan. They should submit a report to the provincial Steering Committee for COVID-19 Prevention and Control for approval before resuming operation.

Employees are ordered to sign documents with the local authorities affirming their commitment to COVID-19 safety.

Businesses involved in the trading of infrastructure at industrial zones are responsible for coordinating with relevant agencies to monitor enterprises in IZs to comply with the regulations on pandemic prevention and control.

After 15 days of stringent province-wide lockdown measures, the northern province of Hai Duong will lift some restrictions in certain areas on Wednesday (March 3) as the COVID-19 outbreaks are gradually being brought under control.

It will shift to a new status, both drastically fighting the coronavirus and taking action to carry out socio-economic development tasks, according to a decision made by the Standing Board of the provincial Party Committee at a meeting on March 1.

Since the coronavirus broke out in Hai Duong province on January 27, it has recorded 684 COVID-19 local infections, becoming the largest outbreak in the country.

Hai Duong authorities agreed to divide the localities in the province into two groups under different restrictions depending on the COVID-19 risks.

Four high-risk localities, including Hai Duong city, Kinh Mon township, Cam Giang district and Kim Thanh, will be placed under the Government’s Directive 15, the highest level of social distancing first introduced in March last year when the country entered nationwide lockdown. The remaining eight localities in the province will follow the less restrictive Government’s Directive 19 on social distancing norms.

Hai Duong will continue to halt festivals, religious rituals, sporting events and other unimportant events that require large gatherings in public.

Service venues – retail/wholesale trading shops, shopping malls, markets, supermarkets, hotels, accommodation facilities, etc. – can resume operations, but must observe COVID-19 prevention and control measures.

Secretary of the provincial Party Committee Pham Xuan Thang said that, from March 3, Hai Duong would carry out 10 groups of anti-COVID-19 solutions and five groups of socio-economic development solutions.

As the outbreak may return, the entire local political system would not lower its guard and will remain on alert and be stringent in the fight, he stated./.

VNA

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Nestlé launches NAN OPTIPRO

March 4, 2021 by bizhub.vn

Nestle has launched the NAN OPTIPRO with HMO and OPTIPRO protein and began a programme called ‘Moments of Amazing Kid Growth’ that seeks inspirational stories about the amazing growth journey of Vietnamese children aged two to six. — Photo courtesy of the company

Nestle has launched the NAN OPTIPRO with HMO and OPTIPRO protein.

HMOs are the third most abundant solids in breast milk and scientifically proven to boost children’s immunity.

Tanti Ermawati, business executive officer of Nestle Vietnam Infant Nutrition, said: “With the relaunch of HMO-added NAN OPTIPRO, we look forward to bringing a comprehensive nutritional solution for children and helping nurture their full potential.”

To mark the launch, the company began a programme called ‘Moments of Amazing Kid Growth’ that seeks inspirational stories about the amazing growth journey of Vietnamese children aged two to six through stories of hands.

Singer Phuong Vy, the brand ambassador for Nestle NAN, said: “The hands are a subtle metaphorical image of a child’s amazing growth. Children learn and explore the world through their hands. The movements of touching, grabbing and feeling are the child’s first and basic interactions with the world around them.

“To me, every amazing growing moment of my child is priceless. I am grateful for those moments and thank NAN for sharing a meaningful programme that reminds me of my wonderful journey of motherhood and my kid’s amazing growth.”

The programme will be organised from March 22 to April 30 at https://www.nestlemomandme.vn/en .

Mothers can join the programme and share their kids’ growth moments.

NAN OPTIRPO is distributed nation-wide through supermarkets, mother and baby shops, big milk stores, and e-commerce platforms. — VNS

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Hai Phong allows resuming of public activities

March 4, 2021 by en.nhandan.org.vn

As from 6pm of March 4, festivals, religious activities and sports events can be held, and entertainment sites, beauty care facilities, cinemas, public Internet shops can be opened.

The city has also allowed the re-opening of dental clinics, travel agencies, gym facilities and parks, along with the gathering of less than 20 people.

Local students will be back to school from March 8.

Meanwhile, the city will continue maintaining pandemic monitoring groups in communes bordering Hai Duong and voluntary teams in the remaining localities. Checkpoints at gateways to the city also continue to operate, keeping close supervision of people going to and from areas with outbreaks.

As of 5pm of March 4, the city reported no new COVID-19 cases.

Filed Under: Uncategorized vietnam news, vietnam business, vietnam travel, vietnam culture, vietnam sports, vietnam politics, hanoi, saigon, ho chi minh city, apec, da nang, hue, hoi an, ..., activities aide resume, public administration resume

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