Phú Hội Commune is traditionally one of the busiest fishing grounds in the Cửu Long (Mekong) Delta during the floating water, or flood season, but this year only a few small boats ventured out. A man rows a boat on the Mekong River Phú Hội Commune is in An Phú District of An Giang Province, where the red alluvial water from Biển Hồ (Tonlé Sap) in Cambodia flows along the Mekong to Vietnam. Over the years, the Mekong River has provided much to local people, but recently the water has been low, meaning shrimp, fish and other seafood catches have plummeted. Nguyễn Văn Ràng, 60, who lives in Phú Thuận Village, said that this year, the flood season returned early in June of the lunar calendar. The water was higher than in the last two years but still lower than many years ago. By 4am, in a field filled with water, Ràng joins others with flashlights, all immersed in the water to try and make a living in the flood season. Nguyễn Văn Hải, 51, another … [Read more...] about Declining Mekong water levels in flood season creates hardship in An Giang
Nigerians buy small as hardships bite
Sheltering from rain near Bangkok's Grand Palace, scores of unemployed Thais queue alongside homeless people waiting for free meals as 14-year-high inflation sends living costs soaring -- causing a headache for the government ahead of a looming general election. This photo taken on September 13, 2022 shows volunteers from Bangkok Community Help Foundation giving out free meals in Bangkok. The leadership came to power eight years ago under Prayut Chan-O-Cha, promising to provide stability after long-running protests started to hit the kingdom's economy. However, it struggled to live up to its pledges and the damage wrought by the pandemic on the travel industry has been compounded by a global inflationary crisis that has sent prices rising beyond many people's reach. And in a move seen as symbolic of the severity of the situation but likely to cause more pain for consumers, the government recently raised the price of instant noodles for the first time in … [Read more...] about ‘You cannot survive’: Inflation bites as Thai election looms
Insta, a branch of Amigo Fintech, last month started cooperation with Viettel Digital Services to become the newest player in the buy now, pay later (BNPL) race. The mini app on Viettel Money combines an e-commerce platform and a payment feature allowing users to split the payment into four periods with zero interest. KMS Technology, a Vietnamese tech group, has also just enrolled as a new market entrant through its platform KayPay. “Although Vietnam was a bit late to the party, it will speed up quickly when it catches up with the trend. Within the next three years, BNPL will become a popular form of payment,” said KayPay CEO Le Tran Bao Duy. Meanwhile, Kredivo, an Indonesian digital credit platform, has become Sendo’s official BNPL service provider partner. It partnered with VietCredit to launch in Vietnam in August, and since then, it has been slowly rolling out several service packages to the public. “We’ve spent over a year cultivating our team and learning the ropes of the … [Read more...] about Buy Now Pay Later – The future of retail payment?
People flocked to Con Market to stockpile food. Wet markets in Da Nang were bustling from noon to evening on Monday, following officials' announcement that markets will close at 12 a.m., Tuesday. The butcher stands were the busiest, and sellers did not raise their prices. "There were approximately 30 people standing behind my station ready to buy meat at one point," Hoa, a vendor at Con Market, said. Customers also flocked to fermented fish stores. "I bought three boxes to eat gradually because the market is closed tomorrow and I won't be able to go out when the storm hits," Tam, who lives on Hoang Hoa Tham Street, explained. By 5:30 p.m., several of Con Market's seafood, pig, and beef merchants entirely sold out. Some customers were forced to buy whatever was left. Many stalls at Dong Da Market in Hai Chau District and Hoa Khanh Market in Lien Chieu District were out of stock. People who arrived late at the market had to go … [Read more...] about People rush to buy food before storm Noru makes landfall
Trading on the Ho Chi Minh Stock Exchange (HoSE) plunged to a three-month low of VND9.77 trillion ($412 million) this week despite forecasts by several brokerages earlier this month that a boom is expected after the market settlement cycle is shortened by four hours and odd share trading resumed. "We believe that investors will seek opportunities in correction sessions by buying the dip. VN-Index could soon recover," analysts with Rong Viet Securities said. But the Vietnam benchmark has continued to struggle. Trading on the HoSE exceeded VND20 trillion only once this month on September 7 when VN-Index plunged 34 points. The average trading on HoSE was VND15.73 trillion in August, less than half of VND32.60 trillion in November last year. One reason for the decline is the lack of investment opportunities on the market compared to last year and the first quarter this year, said Le Ngoc Nam, head of analysis and consultancy at brokerage Tan Viet. After major arrests and … [Read more...] about Stock market sluggish as investors spooked by uncertainties
Climate-related and other ecological disasters occur on an almost daily basis. It would be easy to dismiss these events as isolated incidents, minor impediments on the road back to normality. But this would be a mistake. Layers of uncertainty are stacking up and interacting to unsettle our lives in unprecedented ways. We have faced disease, war, and environmental disruption before. But the conﬂuence of destabilising planetary pressures with rising inequality, far-reaching economic and social transformation, accelerated technological change, and global political realignment presents complex and interacting sources of uncertainty for countries, communities, and individuals. Understanding and responding deep-seated uncertainty is the theme of the 2021/2022 Human Development Report entitled “Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World”. Jonathan Pincus Senior international economist United Nations Development Programme The Human … [Read more...] about Shaping the future of human development in times of crisis