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Michael Kokalari, Chief economist, VinaCapital The Fed effectively prints money and uses it to acquire bonds and other securities. In doing so, it increases the amount of US dollars in the global economy, and thus the Fed’s quantitative easing (QE) programme is essentially (but not exactly) a form of money printing that pushes up stock prices around the world. For that reason, some investors are worried about the possibility of another “taper tantrum” like in 2013. At that time, the Fed’s announcement that it would reduce its monthly QE purchases from $85 billion to $65 billion prompted major corrections in several emerging market (EM) stock markets. Most analysts expect the Fed to begin its QE tapering in December. As such, some investors are concerned about the possibility that another taper tantrum could prompt a correction in the VN-Index, which has surged by more than 20 per cent on-year despite the lockdowns. We are not overly concerned that another taper tantrum will … [Read more...] about Fed’s fiscal tightening won’t dent Vietnam’s position

Illustrative image (Photo: AFP/VNA) Bangkok (VNA) - Thailand has increased the ceiling of its public debt-to-gross domestic product (GDP) ratio to 70 percent from 60 percent, allowing the government to raise more funds to help a struggling economy. The decision was made by the State Monetary and Fiscal Policy Committee chaired by Prime Minister Prayut Chan-o-cha on September 20. The Southeast Asian country is dealing with its biggest COVID-19 outbreak to date and stricter containment measures have hit economic activities although some have been eased from this month. Last year, the government issued its first emergency loan decree last year to authorise it to borrow 1 trillion THB to fund its stimulus schemes to combat the pandemic. A second decree was issued this year to allow the government to borrow an additional 500 billion THB. Last month, Bank of Thailand Governor Sethaput Suthiwartnarueput said the country would need a further 1 trillion THB in fiscal measures to … [Read more...] about Thailand raises public debt ceiling to recover economy

HCM City to implement third relief package worth 7.3 trillion VND Ho Chi Minh City will carry out the third relief package worth 7.3 trillion VND (around 320.7 million USD) sourced from the local budget to help more households and informal workers affected by the COVID-19 pandemic, said Vo Van Hoan, Vice Chairman of the municipal People’s Committee. Speaking at a press conference held by the city’s Steering Committee for COVID-19 Prevention and Control on September 20, Hoan said given complicated developments of the COVID-19 pandemic in the city and prolonged social distancing, people face more difficulties due to job loss and having no income. Therefore, in addition to the social security relief packages of the city's Vietnam Fatherland Front Committee and other organisations and individuals, the municipal People's Committee continues to implement the third relief package to help ease difficulties for local residents. According to reports from the People's Committees of … [Read more...] about VIETNAM NEWS HEADLINES SEPTEMBER 21

As part of the development strategy of the Vietnamese Central Coast under which the government and the city People's Committee will develop this key economic zone, Phat Dat Real Estate Development JSC (HSX: PDR) has completed the formalities to officially own the 3-frontage "diamond landbank" on the busiest and most luxurious intersection in central Danang city. The 3,000-square-metre property is located on Bach Dang Boulevard and owns the other two frontages facing Tran Phu and Le Hong Phong streets. This junction is considered to be the hub of economic, diplomatic, cultural and entertainment activities in Danang. The project owns the central position of all economic, diplomatic, cultural and entertainment activities in Danang With its location, the project offers easy connectivity to the city's arterial roads and bridges crossing the Han River, such as Han River Bridge, Dragon Bridge, and Tran Thi Ly Bridge. These are all critical infrastructure works that … [Read more...] about Phat Dat acquires “diamond” landbank with three road frontages in the heart of Danang

The resettlement area for Long Thanh Airport is coming along slowly The Long Thanh International Airport project is one of the most important transport projects in southern Vietnam for the local and regional socioeconomic development, promoting tourism, and facilitating trade activities. However, since 2018, only 47 per cent of the VND22.85 trillion ($993.7 million) allocated for the airport’s resettlement project has been disbursed and land clearance work has only reached 50.7 per cent of the plan, with nearly 1,250 hectares remaining for handover within 2021. At last week’s online conferences on socioeconomic development and public investment in 2022 between the Ministry of Planning and Investment (MPI) and the country’s three regions, the People’s Committee of Dong Nai, where the project is located, proposed several measures for the MPI to accelerate the project. In particular, Chairman of Dong Nai People’s Committee Cao Tien Dung proposed cutting two sub-projects on building … [Read more...] about Essential projects in need of accelerated disbursement

Bau Truc pottery village is about 10km south of Phan Rang City, the central province of Ninh Thuan. This is a village of Cham people with a tradition of making pottery for several hundred years. Bau Truc village in the Cham language means Palei Hamu Craok. In the past, the village was also known as Danao Panrang or Vinh Thuan village. There are dozens of Cham villages in Ninh Thuan, but only earth from the field on the banks of the Quao River in Bau Truc village is used make pottery. This type of clay is famous for its flexibility and softness. Unlike Bat Trang pottery in Hanoi or Chu Dau pottery in Hai Duong Province, Bau Truc pottery has its own Chăm cultural features. In 2017, the Ministry of Culture, Sports and Tourism recognized Bau Truc pottery as a national intangible cultural heritage. The craft village has been submitted to the United Nations Educational, Scientific and Cultural Organization (UNESCO) for recognition as Intangible Cultural Heritage in need of urgent … [Read more...] about Bau Truc – one of the oldest pottery villages in Southeast Asia