A threat to the international financial system. Not ready to be implemented. A potentially shadowy mechanism that could be exploited by criminals. Facebook's Libra money a threat and far from ready: G7, PHOTO | DPA PICTURE-ALLIANCE | AFP G7 finance ministers and central bankers have dealt a new blow to Facebook's planned new cryptocurrency Libra, issuing a barrage of withering warnings about its dangers for the global economy at their two-day meeting outside Paris that wrapped up on Thursday (Jul 18). Facebook last month unveiled its plans for Libra in an announcement greeted with concern by governments and critics of the social network behemoth whose reputation has already been tarnished by its role in spreading fake information and extremist videos. Ministers from the Group of Seven (G7) major global economies "agreed that projects such as Libra may affect monetary sovereignty and the functioning of the international monetary system," France, the current G7 chair, said in a … [Read more...] about Facebook”s Libra money a threat and far from ready: G7
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Public debt poses big risk to Vietnam
Vietnam’s economic performance has showed positive signs with last year’s GDP growth rate at 7.08 per cent, the highest rate in the last ten years. (Photo: vneconomy.vn) Hanoi (VNS/VNA) - The state budget deficit, which regularly remains at a high level, and rising public debt are among the biggest macro-economic risks facing Vietnam, making it more difficult for the government to help the economy head towards growth, said Professor Tran Tho Dat, Principal of the National Economics University (NEU). Dat, who is a member of the Prime Minister’s economic advisory team, made the statement on March 25 at the national scientific conference on Vietnam’s economy in 2018 and prospects for this year. Participating specialists and scientists assessed Vietnam’s economic performance, pointed out shortcomings, analysed opportunities and made financial policy recommendations to ensure the safety and sustainability of nation’s finances. According to Professor … [Read more...] about Public debt poses big risk to Vietnam
Unhealthy diets pose major risk of NCDs: workshop
Viet Nam News HÀ NỘI — An unhealthy diet is one of the major risk factors for a range of non-communicable diseases (NCDs) including cardiovascular diseases, cancer and diabetes, a workshop heard in Hà Nội on Monday. According to the Global Burden of Disease Study, which focused on 2017, almost 20 per cent of deaths worldwide were attributable to an unhealthy diet. About 15 million people died prematurely from NCDs in 2015, an increase of nearly 3.8 million compared with 2000, the study said. The burden continues to rise disproportionately in low-income and lower-middle-income countries, particularly among younger age groups, while they also face a number of communicable diseases such as HIV/AIDS, tuberculosis and malaria. However, in these countries, the implementation of studies related to non-communicable disease is very limited. So far, most of the evidence is based on studies from high-income countries. According to Professor Đặng … [Read more...] about Unhealthy diets pose major risk of NCDs: workshop
Transshipment risks for steel makers
The escalating trade dispute between the US and China is causing headaches for Vietnam when dealing with the re-routing of goods, and could lead to it becoming a “transshipment hub” for overseas products. As transshipment has reared its head as a major cause of the US-China tensions, Vietnamese steel makers are advised to pay close attention to product origin requirements Photo: Le Toan Businesses around the world are doing whatever they can to avoid tariffs from the US-China trade war. As moving entire production lines can be time-consuming and costly, some firms choose to shift their goods to countries such as Vietnam to disguise the true origin of their products. These businesses hope that with a “Made in Vietnam” label, their products will be free from tariffs. The process, known as transshipment, requires manufacturers to set up a plant in Vietnam or collaborate with Vietnamese factories. This year, transshipment has reared its head as a major … [Read more...] about Transshipment risks for steel makers
Old apartment buildings pose high risk of fire: police
The entryway of Block G of Hùng Vương Apartment building in HCM City’s District 5, which serves as an emergency exit, is clogged with motorbikes. Violations of fire safety regulations can be seen at many old apartment buildings in HCM City. – Photo sggp.org.vnViet Nam News HCM CITY – The HCM City Fire Fighting and Prevention Police Department is recommending new policies to ensure safety at old apartment buildings that were built before the city’s fire safety regulations took effect in 2011. Sr Lieut Col Nguyễn Thanh Hưởng, deputy director of the city’s Fire Fighting and Prevention Police Department, said that 474 apartments in the city were built before the 2001 regulations. Many of these apartments violate fire regulations and are at a high risk of fire, according to Hưởng. For instance, Block G of the Hùng Vương Apartment building in District 5 does not have fire alarms or fire-fighting … [Read more...] about Old apartment buildings pose high risk of fire: police