Usurers at the police office (Photo: SGGP) The police said they had arrested six suspects, including Ha Van Dong, 24, Hoang Ngoc Phuoc,21, Le Van Tu, 20 from Thanh Hoa Province who ran a ring ; Pham Huu Quang, 23 from Thanh Hoa, Tran Van Vinh, 29 and Doan Trung Binh, 23 from Ninh Binh Province ran their own rings. They lived in a rental house in Quang Nam Province’s Tam Ky City since 2020 and provided loans worth over VND5 billion for high interest rates from 20-40 percent per month, equivalent to 240-480 percent per year for more than 100 debtors. Each borrower can borrow VND10 million but receive only VND8 million. The debtor has to pay VND12.5 million within 25 days. The case is under further investigation. By Nguyen Cuong – Translated by Kim Khanh … [Read more...] about Quang Nam Police arrests six people in loan shark ring
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Expanding the list of participants, amending provisions on conditions to enjoy unemployment allowance and on the level of such allowance, etc., are some of the significant adjustments on the policy of unemployment insurance stipulated in Law on Employment (2013), which will be brought into effect from January 1, 2015. Benefits of unemployment insurance Apart from the benefits when participating in unemployment insurance according to current provisions such as unemployment allowance, vocational training support and job search assistance, Law on Employment has been amended with the regime of support for training, retraining, improving qualifications of occupational skills to maintenance employment for workers. Wages on which unemployment insurance premiums are based According to new regulations, the monthly wage, based on which unemployment insurance premiums are calculated, is the wage on which compulsory social insurance premiums are based under the Law on … [Read more...] about Vietnam’s new regulations on unemployment insurance
According to the Vietnamese Office for Trade Affairs in the E.U., a large volume of Vietnamese goods exported to the Netherlands are re-exported to other European countries. Therefore, Vietnam is also considered the leading trade partner of the Netherlands in Asia. The Vietnam-E.U. Free Trade Agreement (EVFTA) is expected to open up greater for businesses from both countries to foster their partnership. According to the Ministry of Industry and Trade (MoIT), Vietnam and the Netherlands have shared close ties in various fields, especially industry, green and renewable energy, circular economy and emission reduction towards sustainable development. Meanwhile, the Dutch Government and investors have shown interest in partnering with Vietnam in trade, industry and energy. Vietnam has been and will be a good choice for Dutch investors, while the business communities of both sides have sought business and investment opportunities in each other’s country, thus optimizing advantages … [Read more...] about Netherlands – Gateway for Vietnamese goods to enter E.U.
In the US, policymakers are in a dilemma when they want to tighten money pumping into the economy to prevent the risk of high inflation, but they are afraid of losing the recovery momentum. The Bank of Canada (BoC) has decided to keep its key lending rate unchanged at a record low of 0.25% based on the assessment that the economy is weaker than expected. Canada’s GDP fell by 1% in the second quarter of 2021. This unprecedented low interest rate is likely to be maintained until the second half of 2022. The Bank of Canada made the tough decision as Canada's inflation is currently above the central bank's target. The bank is still trying to believe that inflation-boosting factors will be temporary. In the US, policymakers are in a dilemma when they want to tighten money pumping into the economy to prevent the risk of high inflation, but they are afraid of losing the recovery momentum. For a long time, the US Federal Reserve (Fed) has pumped money into the economy by … [Read more...] about Inflation arises after stagnation – difficult choice in pandemic
Party General Secretary Nguyen Phu Trong hosted a reception in Hanoi on September 11 for Wang Yi, State Councillor and Foreign Minister of China, who is in Vietnam for an official visit and to co-chair the 13th meeting of the Steering Committee for Vietnam-China Bilateral Cooperation. Party General Secretary Nguyen Phu Trong (R) greets Wang Yi, State Councilor and Foreign Minister of China (Photo; VNA). Minister Wang Yi congratulated Vietnam on the successful organization of the 13th National Party Congress and noted his belief that under the leadership of the Communist Party of Vietnam headed by General Secretary Nguyen Phu Trong, the Vietnamese people will achieve the development goals for 2030 and 2045 set by the Congress. The Chinese minister informed this host on the common perceptions and important outcomes reached during the 13th meeting of the Steering Committee for Vietnam-China Bilateral Cooperation. He stated that the two sides should strengthen … [Read more...] about Vietnamese leaders host reception for Chinese Foreign Minister
Vietnamese Foreign Minister Bui Thanh Son (L) and his Russian counterpart Sergei Lavrov at the joint press conference following their talks in Moscow on September 28 (Photo: VNA) Moscow (VNA) – Vietnamese Minister of Foreign Affairs Bui Thanh Son held talks with his Russian counterpart Sergei Lavrov in Moscow on September 28 as part of his official visit to Russia from September 25 to 28. FM Son affirmed that the Vietnamese Party, State, and people always keep in mind and treasure the wholehearted support and assistance that the Russian people have given to the Vietnamese during the struggle for national liberation and reunification in the past and the “Doi moi” (Renewal) nowadays. Vietnam consistently views Russia as one of its leading important and trustworthy partners, he emphasised. Lavrov affirmed that Vietnam is a very important partner in his country’s foreign policy. Both ministers held that the Vietnam - Russia comprehensive strategic partnership has kept … [Read more...] about Vietnam – Russia partnership keeps developing dynamically: FMs