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Tag: asia

  • Vietnam Airlines to resume commercial flights to Asian destinations this week

    Vietnam Airlines to resume commercial flights to Asian destinations this week

    Vietnam Airlines will reopen international commercial flights connecting Hanoi and HCMC with several Asian destinations including South Korea, Japan and Australia, starting this Saturday.

    The national flag carrier said flights from Hanoi to South Korea’s Incheon City will depart every Thursday while there will have seven flights from Hanoi to Japan’s Narita City in April, with the first scheduled to depart on April 3.

    The carrier will also operate one flight from Hanoi to Australia’s Sydney every Saturday, while flights from HCMC to Sydney would depart every Thursday and Sunday.

    On return trips, the carrier would only carry Vietnamese citizens being repatriated or foreign experts with permission to enter the country. Vietnam is yet to open its doors to foreign tourists.

    A representative of the carrier said the resumption of these international routes are meant to meet growing travel demand of Vietnamese citizens wishing to study and work abroad as well as stranded foreigners longing to return home.

    In addition to these routes, the national flag carrier is planning to operate inbound commercial flights to carry passengers from Japan, South Korea and Taiwan, but is awaiting the government’s approval for this move.

    Vietnam closed national borders and canceled all international flights in March last year. Since then, only Vietnamese repatriates, foreign experts and highly-skilled workers are being allowed in with stringent conditions.

    Vietnam Airlines had said earlier that it is awaiting approval from the U.S. government to launch regular direct flights to that country.

    Vietnamese aviation authorities Wednesday proposed allowing vaccinated foreign passengers into the country from September without requiring centralized quarantine.

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  • Apple to accredit independent repair shops in Vietnam

    Apple to accredit independent repair shops in Vietnam

    U.S. consumer electronics giant Apple will extend to Vietnam a program that provides independent repair shops with access to genuine parts.

    In a blogpost Monday, the company said it would open registrations for the program later this week for Vietnam and 37 other markets including Australia, South Korea and the UAE.

    In other countries like China, it will begin later this year.

    This means customers will not need to visit Apple authorized service providers to get their iPhone and Macbook problems fixed and can instead go to third-party repair providers.

    Interested businesses can join the program for free but must have an Apple-certified technician (certification is also free) doing the repairs.

    The technicians must pass exams through an online authorized testing center and the certification is updated on a product basis annually.

    Apple said further applicants must be an established business with documents available for review by it, and have easily accessible premises and not a residential address.

    “Qualifying repair providers can purchase genuine Apple parts and tools at the same price as [authorized service providers] and receive free access to training, repair manuals and diagnostics,” Apple wrote.

    There are already over 1,500 accredited independent repair shops in the U.S., Canada and Europe.

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  • Vietnam stock market reaches new historic peak

    Vietnam stock market reaches new historic peak

    Vietnam’s benchmark VN-Index surged 2.07 percent to a new historic peak of 1,216.10 points Thursday, driven by Vingroup and Vietcombank tickers.

    The index rose throughout the day after breaking the 2018 peak of 1,204 points in the morning. It continued to surge in the afternoon and ended with a near 25-point gain.

    This is its biggest daily gain in six weeks. The index has ended in the green four sessions in a row.

    Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, surged 16 percent to VND16.94 trillion ($735 million). The bourse saw 334 stocks gain and 106 lose.

    VIC of the biggest conglomerate Vingroup contributed most to the VN-Index gain with 4.6 points. The ticker rose 4.3 percent, its seventh gaining session in a row, up by a total 15 percent since March 23.

    VCB of state-owned lender Vietcombank pulled the index up by 2.1 points with volume tripling from Wednesday to rise 2.2 percent.

    Other major contributors included HPG of steelmaker Hoa Phat Group, VHM of real estate giant Vinhomes and VNM of dairy giant Vinamilk, together pushing the index up by 4.4 points.

    The strongest blue-chip gainer was SSI of leading brokerage SSI Securities Corporation with a ceiling increase of 6.9 percent, followed by TCH of real estate company Hoang Huy Investment Financial Services JSC with a 5.9 percent gain.

    Foreign investors broke off four consecutive net selling sessions with a net buying value of VND45 billion. They focused on VIC, HPG and STB of Ho Chi Minh City-based lender Sacombank, which surged 17 percent in the last six sessions.

    The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, surged 2 percent, while the UPCoM-Index for the Unlisted Public Companies Market added 0.37 percent.

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  • Vietnamese exporters squeezed by Suez blockage

    Vietnamese exporters squeezed by Suez blockage

    The congestion caused by the Suez Canal blockage is delaying the shipment of Vietnamese goods to Europe and the Americas, and the exporters are fretting.

    The owner of a seafood exporting company in the southern province of An Giang is waiting for a five-container ship to pass through the canal on its way to France.

    However, the ongoing congestion will not allow the ship to exit the canal until Friday or Saturday, delaying the shipment by two weeks, exposing the company to fines of 0.3-0.5 percent of the order value.

    This is the first major delivery of the company this year and the owner fears major damage, given the high value of the shipment. He is hoping that the buyer will acknowledge the force majeure circumstance and not impose any fine.

    Many Vietnamese logistics companies are in the same boat after the six-day blockage caused by the mega-ship Ever Given disrupted the global supply chain by jamming the shortest shipping route between Europe and Asia.

    Even though the ship was moved on Monday, Le Duy Hiep, chairman of the Vietnam Logistics Business Association, said most companies were still seeing their shipments delayed.

    Imports from Europe and the Americas to Vietnam are also being put off, he said.

    “Nearly 400 ships, including those from Vietnam, are queued up at the canal. It will take days to clear all the ships, causing damage to both logistics companies and exporters,” he said.

    Europe is one of Vietnam’s biggest seafood export markets with a value of more than $1 billion last year. The resurgence of Covid-19 in some countries there and the Suez blockage is causing major difficulties for Vietnamese exporters.

    Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that Vietnam and many other countries are short of containers for exports and face surging freight rates, and the Suez blockage could make this go even higher.

    Tran Thanh Hai, deputy head of the export-import department under the Ministry of Industry and Trade, said that the blockage is a wake-up call for Vietnamese businesses. He urged them to be more careful and prepare for worst-case scenarios.

    For example, transporting goods by train from Vietnam to Germany costs slightly higher than ships, but takes 15-20 days less, and businesses should consider this an alternative option, he said.

    Businesses should also buy the insurance and think of it as part of their regular expenses instead of taking chances, he added.

  • VinMart to become WinMart

    VinMart to become WinMart

    A year after conglomerate Masan Group acquired it from Vingroup, the VinMart retail chain is set to become WinMart.

    The rebranding would take place after the restructuring of the retail chain is complete, Truong Cong Thang, CEO of The CrownX, a subsidiary that operates VinMart, said at the Masan annual general meeting Thursday.

    The CrownX reported a 14 percent rise in revenues last year to VND31 trillion ($1.35 billion), with VinMart+ convenience stores achieving revenue growth of 42 percent despite shutting down over 744 underperforming stores.

    Danny Le, CEO of Masan Group, said the company plans to increase the number of VinMart and VinMart+ outlets by 30,000 in the next five years, with 20,000 of them being franchised.

    In December 2019, the company acquired a 83.74 percent stake in VinCommerce, the subsidiary of Vietnam’s biggest private conglomerate, Vingroup, which operated VinMart chain.

    The chain, which reported a $100-million loss in 2019, broke even last year, and Masan now targets annual sales of $7-10 billion and double-digit profit growth by 2025.

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  • South Korea to release low-cost 5G through MVNO mobile data plans

    South Korea to release low-cost 5G through MVNO mobile data plans

    South Korea’s Ministry of Science and ICT has announced plans to release low-cost 5G mobile data plans to raise the competitiveness of the country’s 5G market.

    The ministry reported that tariffs will be announced, with mobile data rates offered by mobile virtual network operators (MVNOs) priced below those offered by the country’s major carriers SK Telecom, KT and LG Uplus.

    According to data from the Ministry of Science and ICT, 5G subscribers in South Korea totaled at 13.66 million in February, nearly doubling from just 792,118 subscribers from the previous month. The top carrier, SK Telecom, had 6.35 million 5G subscribers.

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  • Volkswagen To Buy Credits From Tesla In China To Comply With Environmental Rules

    Volkswagen To Buy Credits From Tesla In China To Comply With Environmental Rules

    A Volkswagen joint venture in China has agreed to buy green car credits from Tesla to help meet local environmental rules, three people briefed on the matter told Reuters. The deal, the first of its kind to be reported between the two companies in China, highlights the scale of the task Volkswagen faces in transforming its huge petrol carmaking business into a leader in electric vehicles to rival Tesla. Shares in Volkswagen, the world’s second-biggest automaker, have soared this year as investors warm to its plans to go electric. But in China, and elsewhere, the German company is still heavily reliant on traditional combustion-engine vehicles.

    China, the world’s biggest auto market where over 25 million vehicles were sold last year, runs a credit system that encourages automakers to work towards a cleaner future by, for example, improving fuel efficiency or making more electric cars. Manufacturers are awarded green credits that can be offset against negative credits for producing more polluting vehicles. They can also buy green credits to ensure compliance with overall targets, though trade is usually between affiliated companies that share a major stakeholder.

    To help meet increasingly tough targets, Volkswagen’s joint venture with state-owned Chinese automaker FAW, or FAW-Volkswagen, has agreed to buy credits from Tesla, the sources said, declining to be named as the talks were private. Volkswagen declined to comment on the deal. It said in a statement it was “strategically targeting to be self-compliant” with rules in China, but that if required it would buy credits. Tesla did not respond to requests for comment.

    FAW-Volkswagen sold 2.16 million cars last year. The business and another Volkswagen venture in China – with SAIC Motor – were among the most negative credit-generating automakers in the country in 2019, according to data from China’s Ministry of Industry and Information Technology. The ventures’ gasoline sedans and SUVs have so far proved far more popular in China than their electric vehicles. It is unclear how many green credits FAW-Volkswagen will buy from Tesla, but FAW-Volkswagen’s offer was around 3,000 yuan per credit, higher than prices in previous years, the sources said.

    The deal effectively sees Volkswagen, the biggest foreign carmaker in China, subsidising a rival while the German group ramps up production of electric vehicles. Its ventures in China plan to roll out five electric ID series models this year.

    In the United States, where regulators also set environmental requirements, Tesla has sold regulatory credits to rivals such as Fiat Chrysler, now part of Stellantis, but it has not so far reported any deals in China, where it started making cars in late 2019. Tesla’s revenue from selling regulatory credits totalled $1.58 billion in 2020, according to a regulatory filing.

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  • Fake iOS app steals one million dollars in Bitcoins taking a victim’s life savings

    Fake iOS app steals one million dollars in Bitcoins taking a victim’s life savings

    You have to feel bad for a man named Phillipe Christodoulou. Looking for a place to store Bitcoins he owned that were valued at $600,000 at the time, he installed an app called Trezor Wallet from the Apple App Store, when Christodoulou opened the app looking to check his balance, he was stunned to discover that his 17.1 Bitcoins (now worth over $1 million) was gone.

    As it turned out, Trezor, which manufactures hardware cryptocurrency wallets, does not offer an iOS or Android app and had been complaining about the fake apps listed in the App Store and Play Store to no avail. Back in December, the company disseminated a tweet warning Android users that own a physical Trezor device that “This app is a scam and has no relation to SatoshiLabs and Trezor. We’ve already reported it to the Google team. Always confirm any action on your device and never type seed words until your Trezor asks you to.” Google did remove the Android version of the app in December.

    Seed words or a seed phrase is a list of words needed to recover Bitcoin funds “on-chain.” Anyone who knows the words can take ownership of the user’s Bitcoins so Trezor recommends that they must not be typed into a website and that seed words need to be guarded as fiercely as one would protect cash or jewels.

    While the bad actors that created the fake iOS and Android versions of the (non-existent) Trezor app stole $1 million in Bitcoins from Christodoulou, the victim is more upset with Apple. Once a loyal Apple customer, Christodoulou now says that Apple “betrayed the trust that I had in them. Apple doesn’t deserve to get away with this.”

    Apple spokesperson Fred Sainz says that “Study after study has shown that the App Store is the most secure app marketplace in the world.” However, you won’t get Meghan DiMuzio, executive director of the Coalition for App Fairness, to agree with the Apple spokesperson. DiMuzio, contradicting Sainz’ statement, said, “Apple frequently pushes myths about user privacy and security as a shield against its anti-competitive App Store practices. The truth is, Apple’s security ‘standards’ are inconsistently applied across apps and only enforced when it benefits Apple.”

    The 17.1 Bitcoins that were stolen represented Christodoulou’s life savings and right now there is no indication that he will be able to get that money back.

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  • Google brings back a nifty feature to Maps users on Android

    Google brings back a nifty feature to Maps users on Android

    Google adds new features to its mobile apps all the time, but sometimes, they remove the ones they don’t think are up to the challenge. We never know what’s behind these decisions, but we can definitely say that some features don’t deserve to be removed.

    That didn’t seem to interest Google’s Maps team when they decided to remove a very useful feature from the Android app, the compass widget. Last month, developers revealed many of the improvements that the Maps app will receive in the coming weeks but left one out from the initial announcement.

    Long story short, Google announced today that after removing the compass from Maps for Android in early 2019 “in an effort to clean up the Navigation screen,” it decided to bring it back after receiving overwhelming feedback in its favor.

    The compass will show you which direction is north via a red arrow. Just like it was implemented two years ago, the widget will be positioned on the right side of the screen. The “new” compass widget is now rolling out to all Google Maps for Android users globally, so as long as you have version 10.62 (or higher) installed, you should be able to use it.

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  • Investors press companies on human rights in Xinjiang

    Investors press companies on human rights in Xinjiang

    A group of religious and socially conscious investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China’s Xinjiang region, highlighting the challenges for brands trying to maintain their business ties amid rising tensions.

    The group of more than 50 investors, backed by the Interfaith Center on Corporate Responsibility, said it is in the process of contacting more than 40 companies, including H&M, VF Corp, Hugo Boss and Zara-owner Inditex, requesting more information about their supply chains and urging them to quit situations that could lead to human rights abuses.

    Anita Dorett, program director for the Investor Alliance for Human Rights, which put together the request to the fashion brands and other big corporate names, said she was worried that some companies had moved to scrub language about policies on forced labor from their websites, or pledged to buy more cotton from Xinjiang, in fear of a backlash from Chinese social media and companies.

    “Companies do not prioritize resources to digging into their supply chains and mapping them out. As investors, we want transparency and accountability,” Dorett said in an interview. She added that “This is their business. If they don’t know what’s happening, who will?”

    Over the past week, H&M, Burberry, Nike, Adidas, and other Western brands have been hit by consumer boycotts in China after raising concerns about forced labor in Xinjiang.

    The wave of boycotts coincided with Britain, Canada, the European Union, and the United States over what they say are human rights abuses taking place in Xinjiang.

    The investor alliance alleged that companies removing or moving statements concerning Xinjiang were doing so in fear of commercial retaliation from the Chinese government. It also said compliance rules were being developed in other markets, including the European Union, obliging them to disclose their supply chains fully.

    The Human Rights section of H&M’s website hmgroup.com on Friday no longer carried a link to a 2020 statement on Xinjiang. The statement could still be accessed through the page’s direct address.

    Inditex’s statement on forced labor on its website was no longer available as of last Thursday. H&M and Inditex did not immediately respond to a Reuters request for comment on the investor group’s approach. H&M has declined to comment on the removal of details from its website. Inditex has not responded to requests to comment on the removal of information from its website.

    VF Corp’s original statement on Xinjiang was no longer available, with a new statement published on a different site section. ON TUESDAY, a VF spokeswoman said the company had “not changed our position, our policies or our practices” but did not address the new location of its statement.

    Hugo Boss said last week on Chinese social media that it would continue sourcing Xinjiang cotton. Company spokeswoman Carolin Westermann said on Friday an undated English-language statement on its website stating that “so far, HUGO BOSS has not procured any goods originating in the Xinjiang region from direct suppliers” was its official position and that the Chinese statement was not authorized.

    Westermann reiterated the company’s position on Tuesday, adding that it was in “active exchange with NGOs and other key stakeholders, including investors, to outline our standards, values and sustainability initiatives in more detail.”

    Among investors, environmental, social and governance funds have taken in big inflows of cash, putting companies on the spot and prompting new financial disclosures on topics that were once considered fringe issues best left to governments to address.

    Assets in sustainable funds hit a record $1.7 trillion in 2020, based on data from fund management industry tracker Morningstar.

    The Investor Alliance for Human Rights has more than 160 institutional investors and other organizations as members, representing more than $5 trillion in assets under management currently, its website said.

    The New York-based Interfaith Center on Corporate Responsibility, which is backing the companies’ approach, has a broad range of members, including religious groups, public and union pension funds, and several other asset managers.

    The investor alliance does not include top U.S. fund groups BlackRock Inc and Vanguard Group Inc. With $16 trillion in assets between them both companies are large shareholders in many of the companies under pressure in China Refinitiv data.

    Both companies have ramped up their ESG efforts by publishing more details of their engagements and proxy votes at portfolio companies and introducing new funds using ESG criteria to pick holdings.

  • Archegos Collapse Hits Japan’s Largest Bank

    Archegos Collapse Hits Japan’s Largest Bank

    More losses from the downfall of Bill Hwang’s Archegos Capital Management have been unveiled, this time from Japan’s largest bank. Mitsubishi UFJ Group’s (MUFG) securities arm faces losses of up to $300 million related to an unnamed U.S. client, according to a statement, through its European subsidiary.

    Losses could change depending on market prices and the unwinding of the transactions, though it isn’t expected to have a material impact on MUFG’s business capability or financial soundness.

    MUFG is taking all necessary steps to manage the risk and any effect on earnings will be reflected in the fiscal year starting April 1.

    The statement is widely believed to refer to the collapse of Bill Hwang’s family office Archegos and the latest hit to MUFG brings total global bank losses to as high as $6.3 billion.

    Nomura recently warned of around $2 billion in losses reportedly also believed to be linked to Archegos. Credit Suisse was also significantly impacted with estimated losses of $1 billion to $4 billion.

    Other banks involved, such as Goldman Sachs, Morgan Stanley and Deutsche Bank, have claimed to see little to no impact. Wells Fargo was the latest to unveil its prime brokerage relationship with Archego but said it did not experience any related losses as the bank was well collateralized at the time and no longer has any exposure.

  • Volkswagen US Changes Its Name To Voltswagen To Signify Brand’s Electric Aspirations

    Volkswagen US Changes Its Name To Voltswagen To Signify Brand’s Electric Aspirations

    Voltswagen! Yes, that will be the name of German auto giant Volkswagen’s operations in the United States of America. The official brand name has changed from Volkswagen of America to ‘Voltswagen of America’ and clearly emphasizes the brand’s electric aspirations in the market. The new name, the automaker, symbolises the brand’s momentum towards moving people from point-to-point with electric vehicles. But we now know that this was an April Fool’s joke by the company.

    To give it that reality flavour, the company even quoted Scott Keogh, president and CEO of Voltswagen of America, saying, “We might be changing out our K for a T, but what we aren’t changing is this brand’s commitment to making best-in-class vehicles for drivers and people everywhere. The idea of a ‘people’s car’ is the very fabric of our being. From the beginning of our shift to an electric future, we have said that we will build EVs for the millions, not just millionaires. This name change signifies a nod to our past as the peoples’ car and our firm belief that our future is in being the peoples’ electric car.”

    Do note that the Voltswagen name was to be specific to the US market, while the company will continue to use its original name in other markets globally. The Voltswagen name, though, isn’t exactly all-new. The brand had used it in one of their ads in 2013 while promoting the Volkswagen e-Up! in Europe.

    “As our newly launched ID.4 campaign demonstrates, the humanity at the core of this brand remains its enduring legacy,” said Kimberley Gardiner, senior vice president, Voltswagen of America brand marketing. “The tone of Voltswagen will be a consistent thread between the branded communications for our growing electric fleet to our gas vehicles. Over the course of the next few months, you will see the brand transition at all consumer touchpoints. This is an exciting moment for us, and we have been working through every avenue to make the transition clear, consistent, seamless, and fun for all.”

    The new name strategy also comes when the company has introduced the ID.4 SUV in the US, its first all-electric offering. The automaker has also said that its electric cars will sport the Voltswagen exterior badge and get a light blue version of the brand logo to differentiate the new EV-centric branding. Meanwhile, the gasoline-powered cars will retain the iconic dark blue VW logo, albeit without any exterior badging of the new name

  • 8 types of learning toys that every child should have

    8 types of learning toys that every child should have

    Throughout time toys have played a significant role in children’s learning and development, especially educational ones. It’s not exaggerating to say that toys are the best companions to our kids. In general, parents do not always have time to be their companions, even though they strive to spend time with them as much as possible. Somehow, toys play this magical role to make your child’s time more playful and meaningful.

    To cultivate your child’s interest, they need to have a few different types of learning toys.

    Plush toys or stuffed animals

    Usually, a plush toy is the first type of toy that every child will have, like a teddy bear or stuffed animal. It seems that it’s a never-die industry everywhere in the world. If this type of toy exists forever, there must be something that we shouldn’t ignore.

    Kids love hugging soft animals to sleep. Studies showed that teddy bears help improve psychological well-being. “It’s human nature to crave these feelings from childhood to adult life” said psychologist Corrine Sweet. Nevertheless, parents should be aware of the materials and components when choosing stuffed toys for kids to avoid unnecessary dangers.

    Puzzles

    Unlike dolls and stuffed animals, puzzles are important toys to help kids learn and enhance their necessary critical skills through play. They could grow with your kids in parallel as they will become more interested in solving puzzles with greater difficulty. Once they are interested, they will spend the whole day solving puzzles.

    Apart from brain development, puzzles, like jigsaws and wooden puzzle board, are excellent educational learning kits for children, to keep their mind away from mobile devices.

    Essential skills kids will benefit from puzzles:

    • Fine motor skills.
    • Memory and cognitive abilities and skills.
    • Problem-solving skills.
    • Independent thinking skills.
    • Object sorting skills.
    • Ability to solve particular needs.
    • Ability to combine objects.

    Musical toys

    Music is a beautiful international language that can cross beyond nations, cultures, and races.

    Music plays a significant role to enrich our lives. It’s essential for kids to grow and boost brain development, which is a critical part of developing cognitive abilities, language, listening, and speaking skills.

    Kids are naturally curious about the sounds from different instruments. Being curious about something means they have an interest in it. That means it can be a powerful tool to develop necessary skills through musical toys.

    Other vital skills kids can acquire through musical toys:

    • Cognitive skills enhancement and sensory development.
    • Gross and fine motor skills development.
    • Self-expression and self-confidence.

    Role-playing toys

    Kids love role-playing! It helps engage kids with learning through imaginative plays. In general, kids learn from real-life environments much faster than from any books. Role-playing is an essential scenario-based learning tool for kids to understand the importance of their behaviours, activities, relationships, and roles in this society.

    Furthermore, kids have the opportunities to “outgrow” and develop these core skills:

    • Critical thinking skills.
    • Communication and collaboration skills.
    • Decision-making skills.
    • Risk analysis skills.
    • Interpersonal skills.

    Role-playing toys provide simulating scenario-based learning environments for kids to learn and explore in immersive environments.

    Dress-up play toys

    Similar to role-playing toys, dress-up play toys provide imaginative simulating environments for kids to experience and explore possible real-life scenarios through fun plays. Kids have room to design their clothes for toys with their creativity and imagination. In the whole process, kids can enjoy pretending to be the role or character they are dreaming of being, which helps develop their interpersonal skills and self-exploration.

    Furthermore, it’s also important to develop gross and fine motor skills in early childhood. Parents can also play with your kids if possible as that’s the best way to understand more of your kids, like who they want to be and what they want to do in the future.

    Builder and construction toys

    STEM or STEM-related toys, such as builder and construction toys, have successfully grabbed massive attention from parents and educators worldwide. The reasons behind this are quite simple – the STEM workforce is in high demand all over the world, especially in an ever-connected world, as it is essential to cultivate your child’s interest and ignite their passion in STEM areas with STEM toys at an early age.

    More are more STEM-based programs or campuses will be built up worldwide to meet the increasing enrolments. The United States and China have been putting many efforts into supporting and encouraging kids and teenagers to pursue STEM curricula.

    Vehicles toys

    Vehicle toys, such as cars, trucks, trains, or aeroplanes, have the potential to stimulate children’s development in a prolonged way. Research showed that car toys might aid kids’ emotional, social, and physical development as well as language and communication skills.

    They allow your children to simulate sitting on the vehicles with creativity and imagination on the road, which provides a dynamic learning environment for them to experience many possible opportunities and scenarios for the future through imaginative play. Kids can be the creators of their future and life. Parents can participate in their games or encourage them to play with their companions. It’s a great way to develop their teamwork and communication skills for the long term.

    Board games

    Although we cannot say all kids love games, they usually wouldn’t hate them. Actually, interactive-based learning games, such as board games, are prevalent among kids.

    Here are the essential skills kids can expect to gain through interactive-based learning games:

    • Focus and concentration.
    • Communication skills.
    • Independent thinking.
    • Problem-solving skills.
    • Improving self-esteem: they learn how to accept reality when they lose games.

    Although we cannot only rely on toys to develop children’s abilities and skills, it’s also undeniable that toys play essential roles in enhancing their development in multiple areas from different perspectives.

     

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  • UBS Singed by Archegos

    UBS Singed by Archegos

    Switzerland’s largest bank didn’t escape the Archegos wreckage unscathed. UBS’ singing is however far from the burn that rival Credit Suisse is nursing. Zurich-based UBS, the sixth-largest prime broker according to data provider Preqin, also catered to troubled hedge fund Archegos. Yet the Swiss bank was mum as its crosstown rival Credit Suisse warned of a major hit against its first-quarter results.

    The damage unleashed at Credit Suisse by the hedge fund now reportedly tallies at as much as $5 billion. How did UBS, which ranks directly behind Credit Suisse in catering to hedge funds, escape a similar fate?

    The answer is that the Swiss wealth management giant didn’t entirely, according to a person familiar with the matter. UBS, silent this week as Credit Suisse issued its profit warning, is reportedly still unwinding a series of complicated instruments when it called margin on the hedge fund.

    Though estimates vary, the bank believes it will be left nursing losses of not more than low-three-digit millions from business with Archegos, the person said. The damage isn’t such that it will neither torpedo UBS’ quarterly profits nor trigger a warning, the person noted. A spokeswoman for UBS declined to comment.

    Analysts expect a quarterly profit of $1.44 billion from UBS when it reports on April 27, according to a consensus compiled by the bank itself. Executives at both banks scrambled late last week to evaluate the Archegos debris, with Swiss regulator Finma intervening early on.

    UBS’ top investment banker Rob Karoskfy, risk chief Christian Bluhm, and finance overseer Kirt Gardner were among the top executives involves. The Swiss bank apparently feels confident enough it can extricate itself from the wreckage without wiping out the quarterly progress.

    This puts UBS squarely in the camp of Goldman Sachs and Morgan Stanley, which were both able to offload their Archegos holdings quickly. By contrast, Credit Suisse and Japan’s Nomura, which on Monday flagged a $2 billion hit, weren’t as fast.

    The episode illustrates that UBS’ risk limits held in this case, while raising manifold questions about Credit Suisse’s limits. The latter’s shares slumped more than 16 percent since the bank disclosed the Archegos hit on Monday; investors sent UBS’ shares just three percent lower over the same period.

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  • Vietnamese carriers restart direct US flight race

    Vietnamese carriers restart direct US flight race

    Bamboo Airways and Vietnam Airlines are locked in a race to become the first Vietnamese carrier to establish a direct route to the U.S. The race has been re-triggered by the large demand for such flights amid the Covid-19 pandemic.

    Trinh Van Quyet, chairman of Bamboo Airways, said that the global vaccination campaign will help create a boom in the aviation industry by the end of this year. This is why the airline wants to fly directly to the U.S. in the last quarter of this year, he said.

    He had earlier announced a plan to make Bamboo Airways the first Vietnamese carrier to conduct regular direct flights to the U.S. However, it failed to meet its own deadline last year.

    The board of directors of flag carrier Vietnam Airlines has also approved a plan to launch direct flights to the U.S. early next year, saying it was the right time to do it. Since May last year, the airline has conducted 12 repatriation flights from the U.S. It has used up the number of repatriation flights allowed by U.S. authorities and is now seeking permission for regular flights.

    Such flights will help utilize its wide-body fleet, which has been in low demand due to the pandemic. Vietnam has considered regular direct flights to the U.S. since 2003, but profitability concerns have made carriers hesitant. Vietnam Airlines leaders have said earlier that low demand and fierce competition could lead to annual losses of $30 million in the first five years.

    American carriers have faced the challenges that Vietnamese carriers face now, and stopped direct flights between the two countries long ago. United Airlines launched a direct service in 2007 but pulled the plug on it in 2012, while Delta Air Lines flew its direct service for a mere six months in 2008. No American carrier has launched a direct flight since.

    The market entrance of Bamboo Airways in 2019 stirred up the race again, with its leadership expressing confidence that it was possible to make a profit with direct flights to the U.S.

    Bamboo Airways chairman Quyet had calculated that the airline could earn VND8 billion ($346,700) a month from direct flights with a return ticket price of $1,300.

    Without direct flights, people have to transit in East Asia while traveling between Vietnam and the U.S., and the journey can take 18-21 hours. A direct flight would shorten the travel time to 15-17 hours.

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