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Tag: asia

  • Krispy Kreme creates Lotus Biscoff biscuit-inspired doughnuts

    Krispy Kreme creates Lotus Biscoff biscuit-inspired doughnuts

    Airline travel might be a little unpredictable right now, but there’s one thing you can always count on: Krispy Kreme to serve up delicious doughnuts. Even if you’re not flying this month, you can still enjoy one of your favorite airplane treats at your local doughnut shop.

    We’re not talking about stale pretzels or a bag of peanuts, we’re talking about sweet and caramelly Biscoff cookies. Starting January 9, Krispy Kreme is adding three new Biscoff-flavored doughnuts.

    Krispy Kreme and Lotus Biscoff are partnering to create the first-of-its-kind cookie butter-flavored doughnut collection, which will be available for a limited time at participating Krispy Kremes nationwide. The collection includes a Biscoff Iced Dougnut, Biscoff Cookie Butter Cheesecake Doughnut, and Biscoff Cookie Butter Kreme Filled Doughnut.

    The Biscoff Iced Doughnut is an Original Glazed doughnut dunked in Biscoff Cookie Butter icing. The Biscoff Cookie Butter Cheesecake Doughnut is an Original Glazed doughnut dunked in Biscoff Cookie Butter icing and finished with a swirl of cream cheese buttercream and Biscoff crumble. The Biscoff Cookie Butter Kreme Filled Doughnut is a doughnut filled with Biscoff Cookie Butter Kreme, dunked in Biscoff Cookie Butter icing, and finished with dark chocolate icing and Biscoff crumble.

    To add to this first-class experience, any customer who purchases a Krispy Kreme Biscoff doughnut will receive a free package of Biscoff cookies just like you would on a flight, while supplies last.

    Most of the time these limited-run menus are only available at Krispy Kreme stores, but the Biscoff collection will also hit retailer shelves. If you don’t have a Krispy Kreme near you, you can find the six-pack Biscoff collection at Walmart, Kroger, Food Lion, Publix, Stater Brothers, Wakefern, and more stores. To see if the collection is available at your local grocery store, you can visit Krispy Kreme’s site.

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  • Aldi sued over ‘copycat’ snacks

    Aldi sued over ‘copycat’ snacks

    Australian children’s snack food brand Little Bellies is suing German supermarket chain Aldi for alleged copyright breaches of several organic fruit and vegetable puff snacks.

    Aldi, which famously mimics well-known brands and creates comparable in-house products at a much cheaper price, has emerged victorious in several legal battles in Australia since it launched here in 2001.

    US snack food giant Frito-Lay sued Aldi in 2001 over its Cheezy Twists, alleging a breach of its Twisties trademark. Frito-Lay won the first battle in the Federal Court, but Aldi appealed and had the ruling overturned.

    In 2015, Israeli beauty company Moroccanoil Israel sued Aldi for alleged trademark breaches of its Moroccan Argan Oil hair care products. Moroccanoil lost the original case, and an appeal.

    The owners of Little Bellies hope a different tack – suing for an alleged copyright infringement – may yield a different outcome.

    The holding company that owns the intellectual property for the Baby Bellies, Little Bellies and Mighty Bellies snack ranges, Hampden Holdings IP, alleges Aldi has ripped off its Organic Blueberry Puffs, Organic Apple & Cinnamon Puffs and Organic Carrot Puffs since at least August 2021.

    Hampden Holdings licenses the brands to Every Bite Counts. According to regulatory filings, both firms are owned by brothers Steven and Clive Sher.

    In Britain, supermarket chain Marks & Spencer sued Aldi for copyright infringement of its light-up Christmas gin bottle. Last month, the High Court in London ruled Aldi infringed on M&S’s copyright. A second copyright dispute between the two companies over a caterpillar cake was settled, and Aldi made a number of tweaks to its design.

    Aldi is not the only discount chain that has been targeted in legal action. Fellow German discount chain Lidl was sued last year by Lindt & Sprüngli over its well-known chocolate gold bunnies. A Swiss court ordered Lidl to destroy the bunnies and prohibited their sale, saying they infringed Lindt’s trademark.

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  • How Tag Heuer is evolving to stand the test of time

    How Tag Heuer is evolving to stand the test of time

    I’ll be honest, TAG Heuer is not really a brand that I love. Sure, I like the classics such as the Monaco and other icons, but if I won the lottery then I wouldn’t be visiting the TAG Heuer boutique. So, the fact that I’ve chosen them as the brand that won 2022 signifies exactly how impactful their year has been, surpassing all of my expectations and then some. Sure, brands like Cartier and Jaeger-LeCoultre have also released plenty of stunning watches in the last year, but it doesn’t feel as special when I’ve come to expect their excellence. Watches & Wonders felt like an answer to the watch community’s unasked questions, recapturing the Aquaracer’s professional diving credentials, incorporating some exciting emerging technology, and even creating a never-before-seen diamond-infused case.

    The Aquaracer was TAG Heuer’s focus in that first big 2022 release, spearheaded by the Professional 1000 Superdiver which gives them representation in the saturation diver market. Its bulk and attitude is backed up by impressive specifications and an edgy titanium case. If stealth and efficiency is more your thing, TAG Heuer incorporated solar technology into the black dial of their Aquaracer Solargraph, for unending power and quartz accuracy. The murdered-out case is complemented by a forged carbon bezel and brightly contrasting markers, with a pale blue seconds hand making it easy to read. As if that wasn’t enough, the entire Aquaracer range was evolved with the Professional 200 line, trimming the fat from the diameters, bringing in some smoky gradient dials, and refusing to overly feminize the 30mm models.

    While there was a lot of love for the Aquaracer during Watches & Wonders 2022, by far the most attention-grabbing watch was the diamond-laden TAG Heuer Carrera Plasma. Setting diamonds into a watch case and dial is nothing new in the slightest, and so TAG Heuer shook things up by doing it in a way nobody else has done before, giving an effect that’s bold, masculine, and exciting. The dial looks like it’s made from some crushed diamond dust, but it’s actually grown in a single piece in a chaotic crystal structure that causes the rough texture. Diamond baguettes have been cut for the hour markers in a mormore traditionallye two horizontally aligned subdials are balanced by a skeletonised tourbillon cage at 6 o’clock. The most impressive part is the black anodised aluminium case with huge diamonds set into it seemingly at random, complete with a solid diamond crown.

    Nostalgia is funny, especially when younger generations start to yearn for days that the older generations still feel like yesterday. But, TAG Heuer have been indiscriminate with their choices of retro homages, bringing back some watches and styles which have been missing from their catalogues for too long. The first is the TAG Heuer Monaco Dark Lord Special Edition, paying tribute to the original reference 74033 from 1977. As an early example of a racing chronograph with a black PVD coating, the originals are notoriously hard to find, and when they are found their coatings may well have been scratched away by something as innocent as being stored in a cupboard. This modernised 2022 version features a scratch-resistant DLC coating on a titanium case (a first for the Monaco) which lightens up the weight, yet keeps the deep matte black that makes those Sith-red hands pop.

    The next throwback was the release of a new TAG Heuer Formula 1 range, complete with some of the bright colours that initially made the watches so cool in the ‘80s. Although the specs and quality of the more recent Formula 1 watches are definitely improved from those early fibreglass and quartz ones, they did tend to feel more stern and sterile due to their darker colour schemes. The new 2022 models in green, yellow and red are all incredibly vivid thanks to a finely brushed sunburst texture, and get a heap of helping contrast from the black PVD-coated bezel. It’s the lighthearted fun of bright colours that capture the same childlike imagination and excitement which brings Formula 1 fans into the sport in the first place.

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  • Tips To Consider When Selecting A Web-Based Casino Game To Play On Kubet Casino

    Tips To Consider When Selecting A Web-Based Casino Game To Play On Kubet Casino

    There are so many internet-based casinos on the web nowadays. Kubet Thailand is among these gambling websites. Online casinos are no different from physical casinos; the experience is the same. Except that online casinos perform everything on the web. Many gamblers agree that slot gaming site are enjoyable and straightforward to play, but how you interact with the site is entirely up to you. Without a checklist, jumping into the many online casinos would be foolish. If you want to play your favorite games with ease and enjoyment, you should have a list of the qualities you look for in a website. If you’re looking for a good slot gaming website, the following items should be added to your list:

    Customer service provided

    You should choose a web-based betting club with the best customer service. You ought to be treated fairly, and that should never change! A group of knowledgeable staff should be ready to assist you if you have a request or, generally, objection regarding the website. In addition, a casino that places a high value on its patrons has a site structure that ensures that the application can be used on any device, whether Android or iOS. A few websites provide various translations of their pages to accommodate all punters.

    Rewards, bonuses, and jackpots

    It is common knowledge that a person needs what he perceives to be acceptable, so you will likely choose a site that offers a significant discount and huge bonuses. The majority of destinations provide prizes and rewards, such as welcome awards, free spins, and new client rewards. You should choose an online slot gaming site that offers tips and rewards because you might get a good enough qualification. Be careful not to get conned while playing on any slot game website, like kubet, and make sure you find incentives for your money so you can at least get something out of the fun. To ensure you steer clear of hackers, settle for a secure online casino with strict security measures in place.

    A vast selection of games

    The majority of slot gaming websites, like kubet.kim is top casino platform in Thailand, provide a variety of games for players to examine. In contrast to physical gambling establishments, online club games can host any number of games. This is because online casinos are not limited to floor space. To avoid getting bored, you should choose a gambling club website with a lot of games. In addition, endless games will guarantee that you will beat your favorite games, saving you the hassle of moving from site to site in search of your favorite games.

    Legal issues

    Before engaging in any betting, it is prudent to determine whether it is legal in your country. Find a suitable betting website if that’s the case. After you’ve found a few sites where you want to play, check out how they handle legal issues. Was the website made lawfully? Do they have a license to support their claim? You don’t need to worry about the law if the website is legal.

    Flexibility and accessibility

    When you play at kubet, you can play at any time, any place, and around the clock. You can play in the convenience of your own home while relaxing in a park or waiting for your flight in any situation you can imagine. When you move to a new location, you won’t have to worry about closed sites. The great thing about online casinos is that you can play from anywhere with a good server, a smart device, and a fast, secure internet connection.

    Gambling games are enjoyable, but the entertainment level you receive depends entirely on the website you choose. Since you get a one-of-a-kind betting experience, stick with reputable online gambling platforms.

     

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  • Pepper export value down 7.4% in two months

    Pepper export value down 7.4% in two months

    Vietnam exported over 41,000 tonnes of pepper worth $129 million in the first two months of this year, up 35% in volume, but down 7.4% in value over the same period from 2022

    The average export price of the Vietnamese spice in February 2023 was $3,059 per tonne, a downturn of 11.1% compared to the previous month and 32.8% year-on-year, according to the Import-Export Department under the Ministry of Industry and Trade.

    During the reviewed period, its average export price stood at $3,177 per tonne, a fall of 31.4% compared to last year’s corresponding period.

    The ministry has said the global pepper market is forecast to recover due to increasing demand from importers.

  • Air cargo transport plunges

    Air cargo transport plunges

    Aviation cargo transport passing through Vietnam’s airports dropped 28.2% year-on-year in the first two months of 2023 to 168,000 tons, according to the Civil Aviation Authority of Vietnam (CAAV).

    Industry insiders say that the spreading global economic recession has led to a decline in consumption. Although China has reopened its economy, the delivery of Chinese materials and goods to other countries has not fully resumed yet.

    Do Xuan Quang, deputy CEO of Vietjet Air, said that the ongoing Russia-Ukraine war is also limiting global deliveries even though shipping costs have dropped.

    Vietjet Air has seen its cargo transport fall from nearly 100,000 tons in previous years to around 65,000 tons last year, Quang told VnExpress.

    Vietnam Airlines Group transport in the first two months also declined from the same period in recent years. The company did not reveal by how much.

    A representative of an air cargo transportation company, who asked not be identified, said that in the first two months of the year delivery from Vietnam to Japan plunged 20% year-on-year.

    Other routes that the company operates still have not recovered from Covid-19.

    Data from the CAAV shows that domestic cargo in the first two months rose slightly year-on-year to 51,000 tons, while international cargo fell 37.3% to 117,000 tons.

    Domestic airlines delivered only 42,500 tons in the period, down 14.2 % year-on-year.

    The Vietnam Logistics Association (VLA) expects air cargo transport in Vietnam to recover later this year, but slowly as there are many uncertainties in the global market.

    This is shown by transportation data from local logistics companies. The industry is capable of delivering 1.5-2 million tons a year but currently they are shipping only nearly 1 million tons.

    The busiest route in the country, HCMC to Hanoi, is operating at only one-third of cargo capacity.

    Dang Anh Tuan, a media representative of Vietnam Airlines, said that there is still a niche market for aviation transport, such as delivering high-end tech equipment.

    Vietnam’s cargo transport market is dominated by foreign airlines. There are 29 international carriers which are specialized in delivering cargo and they account for over 80% of market share.

    Vietnamese companies, however, are seeking to change that.

    Vietravel Airlines last year launched its own cargo carrier Vietravel Airlines Cargo in partnership with HCMC-based Asean Cargo Gateway.

    Earlier this year Bamboo Airways established Bamboo Airways Cargo.

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  • WhatsApp for Android is beta testing split view on tablets

    WhatsApp for Android is beta testing split view on tablets

    The tablet version of WhatsApp now has access to a split view thanks to a new update that was just released. The update was made available for the Android beta app on the Play Store for those fortunate enough to make it into the beta program.
    News of this update was reported by Wabetainfo which found that this change took place with the beta Android WhatsApp app, version 2.22.21.6. This newest change builds upon the WhatsApp version released in September 2022, which was compatible with tablets but not optimized for use on larger screens.
    This new feature is a game-changer for users because it optimizes the interface for tablets, it provides a better experience on a larger screen, and users can now view and use two different sections of the app simultaneously side by side on their tablet screen, as seen on the below screenshot:
    In the past, when users opened a chat on the tablet version of WhatsApp, the chat view would take up the entire screen. Users would then have to return to the chat list each time they wanted to switch to a different conversation. This new feature will allow users to switch between conversations without returning to the chat list since it will be consistently visible whenever a chat window is opened.
    After installing the most recent update of WhatsApp beta for Android from the Play Store, users will have access to a redesigned user interface optimized for tablet use. However, if the new feature isn’t available to you after installing the latest beta, Wabetainfo states that there will be an upcoming update that will unlock this feature for even more users. Unfortunately, if you do not already have access to the beta version of WhatsApp, you will not be able to sign up at this time as the beta program is almost always full.
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  • Fruit, vegetable exports rise 17.8%

    Fruit, vegetable exports rise 17.8%

    Vietnam’s fruit and vegetable exports in the first two months of this year increased by 17.8% year-on-year to US$592 million.

    China accounted for 57.5% of the exports, according to the Ministry of Agriculture and Rural Development’s department of agricultural products processing and market development.

    Since early February when it reopened after Covid, China has been importing large volumes of Vietnamese agricultural products like durian, jackfruit, watermelon, and sweet potato.

    Exports to Laos have tripled.

    The U.S. and Europe have also imported large volumes of Vietnamese fruits and vegetables.

    A Tien Giang Province-based company told VnExpress that its exports of durian and pomelo to the U.S. and China have been increasing steadily this year. Freight rates have decreased to pre-Covid levels, creating favorable conditions for exporters.

    Surveys in the Mekong Delta show that the prices of durian, dragon fruit, jackfruit, and sweet potato have all doubled or tripled from 12 months ago, with the durian price surging to a record high of VND190,000 ($8) per kilogram at the farm gate.

    Last year exports were worth $3.34 billion, down 5.9% from 2021, according to the agriculture ministry.

    Vietnam imported fruits and vegetables for $289 million in the first two months of this year, a 12% increase, the department said.

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  • Airasia CEO says the high rates aren’t going anywhere

    Airasia CEO says the high rates aren’t going anywhere

    Even low-cost carriers, which struggle to increase capacity amidst labor shortages, soaring fuel prices, and closed airspace, have set prices that have stumped travelers.And if you think this is going anywhere, it’s not – at least that’s according to AirAsia’s CEO Tony Fernandes.

    Speaking last week at the Aviation Festival Asia in Singapore, Fernandes revealed his belief that airlines have been under-pricing their services and that the industry has a way to go in charging passengers an appropriate price.

    However, higher airfares have not deterred or slowed down flight demands or demand projection, and Fernandes believes these airfares are more authentic prices that should have been charged pre-pandemic.

    “After not having flown for three years, passengers’ value of travel has also increased,” Fernando said.

    With many airlines facing challenges that hinder their ability to maintain and increase required capacity, classic supply and demand become a consideration. A shortage of available seats cannot meet the heightened demand, so Fernandes believes passengers can expect to be greeted with higher airfares this year.

    Alongside this, airlines cannot acquire more planes due to the manufacturers’ ability to speed up production rates impacted by the pandemic. Without new planes readily available and old planes suffering from technical setbacks, carriers have to outsource third-party agreements for wet leasing and maintenance, increasing expenses.

    Fernandes said AirAsia has faced these challenges, but the low-cost carrier will have its fleet of over 200 planes back in service by May.

    “The main obstacle for us has been getting our planes back into active service, and bringing about 204 planes back is no easy feat,” he said

    “And what was initially predicated on being finished by May of next year, we’ll be able to do by May of this year.”

    The global commercial aviation industry struggles to get back on its feet due to similar problems AirAsia, so, unfortunately for travellers, getting back to pre-pandemic prices may still take a while.

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  • Shrimp exports set for difficult year

    Shrimp exports set for difficult year

    Vietnam’s shrimp exports face challenges with prices decreasing and competition from Ecuador and India intensifying, according to the Vietnam Association of Seafood Exporters.

    Global prices have decreased since the second half of last year and are expected to fall further this year as supply rises sharply to six million tons, VASEP general secretary Truong Dinh Hoe said Friday at a shrimp industry conference.

    VASEP general secretary Truong Dinh Hoe says shrimp exporters face fierce competition from Ecuador and India this year. Photo by Anh Minh

    The U.S. has extensive shrimp inventories, and so is sure to reduce imports in the first half of this year.

    When it increases imports in the second half, it will likely opt for small shrimp from Ecuador because of its abundant supply and geographical proximity.

    Vietnamese exports to European markets will be affected by the economic turmoil there.

    Le Van Quang, chairman of Minh Phu Seafood Corp., said Vietnamese shrimp costs are too high due to low aquaculture productivity, making it difficult to compete with Ecuador and India.

    “Our shrimp farming success rate is less than 40%. It is over 90% in Ecuador and more than 60% in India.”

    According to the Directorate of Fisheries, the shrimp output this year is likely to be 1.08 million tons, and exports will fetch US$4.3 billion.

    But VASEP forecast exports to be worth only $4 billion out of total seafood exports of $10 billion.

    Last year shrimp exports had risen by 11% to $4.3 billion.

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  • Sea shipping costs dip amid sliding demand

    Sea shipping costs dip amid sliding demand

    Sea shipping costs have plunged by over 80% from the previous peak as consumption has dropped amid inflation concerns. Tran Lam Son, CEO of wood and furniture exporter Thien Minh, said that shipping a container to Europe now costs around $1,700, down nearly 92% from the peak of $20,000 a couple of years ago.

    The price drop poses opportunities for businesses like Thien Minh but is perceived as a negative sign for the logistics sector.

    Logistics platform Phaata has data showing that shipping a 40-foot container from Ho Chi Minh City to Northern Europe now costs $1,700, down from $15,000 in January.

    From HCMC to Los Angeles, the average price is now $1,400, compared to $12,000 in September 2021. To New York, freight costs $2,900 against $15,000 two years ago.

    From Asia to India costs have plunged by over 90%, said Le Thi Lan Anh, business director of logistics firm MH Great Sun.

    Phaata CEO Nguyen Hoai Chung said that prices are now plunging because consumer demand in North America and Europe has plummeted due to inflation and forecasts of economic difficulties.

    Inventory in these regions is still high and so importers do not need to buy more from Asian countries, including Vietnam, he added.

    Slower manufacturing activity in China in recent years has reduced pressure in ports and congestion is no longer a problem, he said.

    Weak demand is likely to persist throughout this year. The International Monetary Fund last month forecast that global trade growth will drop from 5.4% last year to 2.4% this year.

    American spending on goods has dropped 5.4% from the peak in March 2021.

    Logistics giant Maersk anticipates that container shipping demand will drop by 2.5% this year.

    The supply of container ships, however, is expected to rise in this and next year and many ships are set to be completed.

    Container ship capacity is set to increase by 7.8% this year while demand is expected to rise 3.5%. In 2024 the two figures are expected to be 8.3% and 3.5% respectively.

    This shows that there will be an oversupply of container ships in 2023 and 2024, and competition in the logistics sector is set to be intense, Chung said.

    SSI Securities Corp. analysts said in a report that demand for goods from Vietnam will likely resume in the second half of the year when the shopping season arrives and after unsold inventory has been liquidated in Europe and the United States.

    Anh, however, has a more pessimistic forecast.

    “There is no sign that the financial market will recover this year,” said Anh. “Deposit interest is still rising and a recovery in the logistics industry is not expected until the very end of 2023.”

    Phaata CEO Chung said that container shipping prices to North America and Europe will continue to stay low until recovering in the fourth quarter as Christmas shopping rises.

    Next year, prices will continue to fall as container supply outweighs demand.

    “The logistics sector will see brighter signs in 2025 and prices will resume to pre-pandemic levels,” said Chung, “with a more balanced supply and demand relationship.”

    Chung advises logistics firms to expand their markets to other Asian destinations such as China, Japan, South Korea and Southeast Asian countries.

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  • What airlines need to speed up their recovery

    What airlines need to speed up their recovery

    Vietnamese airlines seek government support to speed up post-pandemic recovery, including scrapping a ticket price ceiling and relaxing visa policies.

    The outlook for the aviation industry seemed bright in a forecast by the Civil Aviation Authority of Vietnam (CAAV) last month when it said that a full recovery of Vietnam’s air transport is expected by the end of the year.

    CAAV forecast that 80 million passengers and 1.44 million tons of cargo will be transported this year, up 1% and 14.8%, respectively from 2019 when Covid-19 had yet to hit Vietnam.

    For airlines, however, the forecast seems too optimistic. Last year, Vietnam Airlines posted an accumulated loss of over VND34 trillion ($1.43 billion), while budget airline Vietjet recorded more than VND2 trillion in loss.

    Bamboo Airways and Vietravel Airlines are yet to turn a profit. Luong Hoai Nam, a member of the Vietnam Tourism Advisory Board, said at a recent event that there is no rosy picture for domestic airlines this year.

    “Carriers are deep in debt and are facing an operational crisis,” he said.

    Now that demand is rising, aircraft leasing companies are seeking to get their jets back, Nam said, adding that if Vietnamese airlines cannot pay for the lease the jets might be taken away.

    Vietjet’s Deputy CEO Ho Ngoc Yen Phuong said that although some international airlines have become profitable again after the two-year hiatus, Vietnamese carriers are still facing many financial difficulties, and they might lose on their own playground if other carriers increase their presence.

    Deputy CEO of Vietnam Airlines Trinh Ngoc Thanh said that the industry will not fully recover until the end of 2024, but he was not sure whether the national flag carrier can survive until than as its “financial health is very weak.”

    Local airlines, therefore, are proposing several support policies to help them survive and speed up their recovery. They want the domestic ticket price ceiling removed, saying that this policy is no longer in line with international norms. The price ceiling has remain unchanged for eight years and this is unreasonable as expenses, including fuel, currency exchange rates and loan interests, have all increased.

    Vietnam Airlines and Bamboo Airways proposed that while the ceiling is yet to be removed it should be raised to reflect the hike in operational costs.

    Ticket agents are saying that domestic prices on some routes have nearly doubled year-on-year.

    A survey of 1,600 readers last month found that 51% of respondents want the price ceiling to remain unchanged.

    Airlines are also requesting the government relax visa policies and create a national tourism promotion campaign.

    “The Vietnam National Administration of Tourism partnered with airlines to promote tourism in other countries in previous years,” Thanh said. “But now there is no campaign and carriers do not have the budget to create their own.”

    The Vietnam Airlines executive also said that the 15-day visa policy for European and American visitors should be doubled to 30-days.

    Vietjet wants authorities to untie administrative knots so that Chinese tours can soon travel to Vietnam. Vietnam is yet to be included in the 20 countries that Chinese tourism firms are allowed to send tours to.

    Even though China – which accounts for 30% of foreign tourists to Vietnam – has reopened, Vietnamese airlines still have to postpone plans to expand their flight frequency to this country.

    Carriers are also seeking reductions in taxes and fees.

    Thanh said that the 50% reductions in landing and takeoff fees of domestic airlines and an environmental tax on fuel, which were given during Covid-19, should be maintained to help ease the financial burden for carriers.

    Bamboo Airways has proposed for these reductions to last until the end of 2024 or 2025.

    Can Van Luc, chief economist at lender BIDV, said that it is unlikely that carriers will get out of losses this year and that they will still need a lot of government support in taxes and fees.

     

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  • Gold prices up

    Gold prices up

    SJC gold gained 0.07% to VND66.9 million ($2,819.45) per tael Friday morning.

    Gold ring price rose 0.09% to VND54.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.

    Globally gold prices rose on Friday, on track for their first weekly gain in five, as the dollar eased, even though fears persisted that the U.S. Federal Reserve would keep raising interest rates to curb inflationary pressures.

    Spot gold was up 0.3% at $1,840.89 per ounce.

    The dollar index eased 0.1%, making bullion more affordable for buyers holding other currencies.

    The number of Americans filing new claims for unemployment benefits fell again last week, pointing to sustained labour market strength and adding to fears that the Fed would keep hiking interest rates for longer.

    Another report from the U.S. Labor Department on Thursday showed labor costs grew much faster than previously estimated in the fourth quarter.

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  • Dollar slips on black market

    Dollar slips on black market

    The U.S. dollar dropped against the Vietnamese dong Friday morning on the black market.

    Unofficial exchange points sold the greenback at VND23,850, down 0.29% from Thursday.

    Vietcombank sold the dollar 0.15% higher at VND23,910.

    Eximbank maintained the dollar at VND23,860, while at Techcombank the rate stayed unchanged at VND23,890.

    The State Bank of Vietnam kept its reference rate stable at VND23,637.

    The dollar as appreciated over the dong by 0.76% since the beginning of the year.

    The U.S. dollar eased back from a 2-1/2-month high versus the yen on Friday and weakened toward its first weekly loss since January against major peers as traders tried to gauge the path for Federal Reserve policy.

    The yen, which is particularly sensitive to U.S.-Japanese long-term interest rate differentials, threatened to extend a weekly losing streak to seven weeks, even as it gained strength on Friday with 10-year U.S. yields retreating from a nearly four-month high close to 4.1%.

    Taking some steam out of the dollar and the breathless advance in U.S. yields were comments from Atlanta Fed President Raphael Bostic overnight that “slow and steady is going to be the appropriate course of action,” despite new labour figures adding to the run of strong data of late.

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  • UBS Loses Appeal to Halt London Lawsuit

    UBS Loses Appeal to Halt London Lawsuit

    UBS has lost an appeal to throw out a lawsuit by an exiled Chinese businessman over an allegedly forced share sale by the Swiss bank’s London branch.

    A London court of appeal has dismissed UBS’s latest attempt to throw out a $500 million lawsuit by exiled Chinese businessman Guo Wengui and his firm Ace Decade.

    According to Guo, he and Ace Decade allegedly lost $500 million after UBS forced a sale of an indirect equity investment in Chinese brokerage Haitong Securities during a market downturn in July 2015.

    Last month, UBS argued in the appeal court that the lawsuit would only be valid in Switzerland despite involvement by the London branch. This argument was previously rejected by a lower court in 2022.

    The claims undoubtedly arose out of UBS London’s operations. UBS London significantly participated in the events that have given rise both to the claim and the los ns claimed.

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