Vietnam Insider - Page 128 of 1522

TikTok’s Uncertain Future Under Trump Administration

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With 14.5 million followers on TikTok, Mr. Trump has said he would not ban the app, but the political and legal hurdles to fulfilling that promise are quite high.

After Donald Trump was elected President of the United States last week, tech CEOs such as Apple’s Tim Cook, Mark Zuckerberg (Meta) and Jeff Bezos (Amazon) all publicly congratulated him.

However, TikTok CEO Shou Zi Chew has remained silent. According to CNBC , this is noteworthy because among the leading technology companies, TikTok faces the risk of being banned from operating in the US.

In April, President Joe Biden signed a bill requiring TikTok’s parent company, ByteDance, to sell its U.S. operations by January 19 or face being banned. The move was met with bipartisan support.

Now, Trump’s return to the White House could provide a “lifeline” for the platform, according to CNBC . Trump began cozying up to the social network after meeting billionaire Jeff Yass in February, a major Republican donor and ByteDance investor.

Yass personally and his company Susquehanna International Group own 7% and 15% of ByteDance shares respectively, worth a total of $21 billion.

Mr. Trump launched his TikTok account in June and has amassed more than 14.5 million followers. During his campaign, he used the app’s uncertain future in the United States to rally voters. “We have no intention of doing anything to TikTok, but the opposition will shut it down. So if you like the app, vote for Trump,” he wrote on the social network Truth Social in September.

He has not publicly discussed his plans for TikTok since his election, but transition spokeswoman Karoline Leavitt said the new president will deliver on his promises. “The American people re-elected President Trump by a wide margin, giving him the authority to deliver on his campaign promises,” she said.

The Washington Post ’s own sources said the president is expected to try to block the TikTok ban after taking office. Given his experience with social media, Trump may not want to make a decision that would cause him to lose the attention and influence he has built on TikTok, Long Le, a China business expert at Santa Clara University, said.

However, some other experts say that trying to lift the ban could carry political risks for Trump, as he could be seen as being friendly to China, in contrast to the confrontational tone he adopted during his campaign. “This is a political issue,” noted James Lewis, a data privacy expert at the Center for Strategic and International Studies.

Maintaining the TikTok ban could help Trump score points with lawmakers concerned about China’s global political and economic influence, said Milton Mueller, a professor at Georgia Tech’s School of Public Policy. “I don’t think he’ll score big points if he defends TikTok,” Mueller said.

In the scenario of wanting to throw a “lifebuoy”, Trump also cannot do it easily because he faces significant political and legal challenges, according to ABC News . The outcome may depend on support from a series of major congressional organizations and the Supreme Court to technology corporations such as Google and Oracle.

Specifically, the easiest way to reverse the policy is from Congress. To do so, both houses would need to vote to overturn Mr. Biden’s bill and send it to Trump for his signature. “The easiest way is to ask Congress to overturn the ban,” said Anupam Chander, a professor of law and technology at Georgetown University.

However, he noted that this is not an easy path. Seven months ago, the ban passed the House of Representatives by a vote of 352-65. In the Senate, 79 members voted in favor, compared to 18 against and 3 abstentions.

The second way is to bypass Congress, instead seeking to “buy time” in a lawsuit against the law that TikTok has filed and is being considered by a three-judge panel on the DC Court of Appeals (the Court of Appeals for the District of Columbia, one of 13 US federal appeals courts).

Even if the DC Court of Appeals rules against TikTok, it can still appeal and take the case to the Supreme Court before the ban goes into effect. The Supreme Court could decide that the case merits a stay, potentially throwing out the ban altogether. “The Supreme Court may want to consider this,” predicts Alan Rozenshtein, a law professor at the University of Minnesota.

Alternatively, rather than repealing the law or relying on court intervention, Mr. Trump could turn to the Justice Department, which could theoretically choose not to enforce the law under his administration, reassuring companies like Apple and Oracle that they would not face prosecution if they violated it, such as allowing TikTok to be downloaded and installed.

Or the Trump administration could come up with a more flexible interpretation of the ban that would allow it to conclude that TikTok has complied with the requirement to separate from parent company ByteDance. Cornell University professor Sarah Kreps said Trump could choose to propose “selective enforcement” that would allow TikTok to continue operating in the US without being penalized.

But if Trump chooses not to enforce it, that still won’t be enough. Companies like Apple and Oracle could decide to stick with the ban anyway, since they’re taking legal risks if the White House changes course, Rozenshtein said. “Trump is pretty unpredictable. If you’re Apple’s legal counsel, do you really want that risk hanging over your head?” he said.

The final option is to play matchmaker. Mr Trump could try to find a US investor to buy TikTok , helping the platform avoid a ban. But time is running out for such a large transaction. The law allows for a 90-day extension to sell TikTok, as long as the company is negotiating a deal. In that case, the deadline would be pushed back to April 2025. But the catch with this option is that TikTok has shown little interest and China has been opposed from the start.

For his part, TikTok CEO Shou Zi Chew has remained silent before and after Trump’s victory. According to Long Le, the platform may be taking a neutral approach and a wait-and-see strategy.

Source: vnexpress.net – Phien An ( according to CNBC, ABC News )

Vingroup Teams Up with Warner Music Group and Indochina Productions to Promote Vietnam

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Vingroup Corporation has just officially signed a memorandum of understanding (MOU) with two leading names in the world of music and cinema, Warner Music Group and Indochina Productions.

In particular, the above cooperation will create the premise for the world’s top music stars under the management of Warner Music Group to have the opportunity to participate in the 8Wonder International Music Festival and other music events organized by Vinpearl.

This cooperation not only brings world-class music stars to Vietnam but also serves as a launching pad for Vietnamese tourism and culture to reach hundreds of millions of people around the world.

The two agreements were signed within the framework of the Vietnam Tourism – Cinema Promotion Program organized by the Ministry of Culture, Sports and Tourism of Vietnam in Hollywood, California.

Accordingly, Vingroup Corporation will cooperate with Warner Music Group and Indochina Productions to promote the group’s strategic products, while introducing Vietnamese culture to international friends through films, music concerts and music videos.

The parties will work closely to promote Vietnam as a leading destination for international filmmakers and music video producers. Vingroup is committed to supporting Warner Music Group and Indochina Productions projects to be carried out at locations within the group’s ecosystem, including Vinpearl resorts and VinWonders amusement parks.

In addition, Vingroup will also provide VinFast electric car models for use in the music and film projects of the two partners.

“Vietnam has beautiful natural scenery and great potential to become an ideal location for filming and music festival projects,” said Lisa Nguyen, managing director of Warner Music Vietnam.

Some of our artists, such as Charlie Puth, have performed here. By establishing a partnership with Vingroup, Warner Music Group hopes to have more opportunities to expand its operations in Vietnam.”

Ms. Ngo Thi Huong, representative of Vingroup, shared: “We are honored to cooperate with Warner Music and Indochina Productions to promote Vietnam’s culture, tourism and breakthrough innovations. This is a great opportunity for us to introduce Vingroup’s brand and products globally, bring internationally renowned artists, actors and film crews closer to Vietnamese audiences, and at the same time open the door to promote more deeply and strongly Vietnamese culture and beauty to the world.”

“Indochina Productions has always operated to international standards throughout the region, and with the support of relevant government agencies and film industry supporters, we have helped to establish Thailand and the Philippines as Hollywood film hubs,” said Nicholas Simon , general director of Indochina Productions .

It was these three factors that brought the Kong: Skull Island film crew to Vietnam. With the support of Vingroup, we believe that this beautiful country will become the filming location for many international blockbusters in the future.”

The signing of the memorandum of understanding between Vingroup, Warner Music and Indochina Productions not only demonstrates the stature of Vietnam’s number 1 multi-industry corporation in the international arena, but also demonstrates the vision and aspiration to promote the cultural values, natural landscapes, iconic works, and prosperity of Vietnam today to the world; contributing to gradually making Vietnam a leading attractive tourist destination in Asia.

Vingroup is Vietnam’s leading multi-industry private economic group, operating in three main areas: Technology and Industry, Trade and Services, and Social Charity.

With a production and business system spread across Vietnam and many other countries such as North America, Europe, and Southeast Asia, Vingroup always pursues a strategy of cooperation with the world’s leading corporations to constantly innovate and develop a high-end product and service ecosystem, improve the quality of life and elevate the Vietnamese brand in the international arena.

Learn more at: https://www.vingroup.net/

Warner Music Group is one of the largest music corporations in the world, founded in 1958, headquartered in New York, USA.

Today, Warner Music Group manages many globally famous artists such as Ed Sheeran, Dua Lipa, and Cardi B.

Indochina Productions was founded in 2010 by Nicholas Simon, a renowned Hungarian-American filmmaker.

Indochina Productions is a leading production partner of many major brands in the international entertainment and advertising industry.

Indochina Productions is the unit that brought the blockbuster Kong: Skull Island to film in Vietnam, contributing to bringing the image of Vietnam to the world.

Source: tuoitre.vn (Heavenly Direction)

Binh Dinh Partners with Vingroup for Green Transformation in Transportation

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On the morning of November 15, the People’s Committee of Binh Dinh province signed a memorandum of understanding with Vingroup Corporation on a green transformation program through sustainable transportation solutions using VinFast electric vehicles and green technology.

At the meeting, the People’s Committee of Binh Dinh province and Vingroup signed a memorandum of understanding on comprehensive investment cooperation in green transformation and research, focusing on developing a green transportation ecosystem using electric vehicles. At the same time, developing an electric vehicle charging infrastructure system and policies to support people in the transition process.

Ms. Le Thi Thu Thuy – Vice President of Vingroup – said that Binh Dinh is a province with many advantages to develop the economy in a green and sustainable direction. The province has had many initiatives and drastic actions in green transformation, creating positive changes for people’s lives in recent times.

“With the support of the People’s Committee of Binh Dinh province and the people, Vingroup will bring high-class and quality products and services, contributing to the economic development of the province and improving the quality of life for the people,” Ms. Thuy shared.

Mr. Pham Anh Tuan – Chairman of Binh Dinh Provincial People’s Committee – said that the province highly appreciates the potential, scale, professionalism and open-mindedness of Vingroup. In particular, Binh Dinh highly appreciates Vingroup’s efforts in promoting green transformation with the campaign called “Fierce Vietnamese Spirit – For a Green Future”.

Mr. Tuan proposed that Vingroup Corporation support resources and coordinate with the Department of Planning and Investment of Binh Dinh to develop a green transformation and green growth project for Binh Dinh province in the period 2025 – 2030.

Mr. Tuan also assigned the Department of Transport to preside over the Department of Construction and the Chairmen of the People’s Committees of districts, towns and cities to support Vingroup Corporation to soon deploy investment in charging stations that the province has introduced, to be completed no later than the first quarter of 2025.

In addition, the two sides will also study to promote comprehensive cooperation in many fields such as trade, services, tourism, health, education, information technology…

On this occasion, from November 15 to 17, at Nguyen Tat Thanh Square (Quy Nhon City), an event was held to display and introduce products of Vingroup and its member companies. Binh Dinh residents had the opportunity to test drive VinFast cars and electric motorbikes, experience electric bus and electric taxi services and learn about other brands of Vingroup.

Source: tuoitre.vn (Lam Thien)

Analyzing Billionaire Elon Musk’s $2 Trillion Impact on Public Spending

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Billionaire Elon Musk has been successful at cutting costs and staff at the corporate level, such as reducing X (Twitter) staff from 8,000 to 1,500. But could he do the same with the US government?

At President-elect Donald Trump’s campaign rally in New York last month, billionaire Elon Musk said the US could save at least $2 trillion by reducing “waste” in public spending.

Mr. Musk has now been appointed to co-lead the Government Performance Board, giving him the opportunity to turn his ideas into reality.

US Government Spending

According to the US Treasury Department, the federal government spent a total of $6.75 trillion in the last fiscal year (October 2023 to September 2024). This means that Mr. Musk’s proposed $2 trillion cut would be equivalent to cutting about 30% of total government spending.

Currently, about 880 billion USD (13% of total spending) is spent on paying interest on public debt, an expense that cannot be reduced without causing the risk of default for the US Government.

The other big spending item was $1.46 trillion (22%) on social security, mostly pensions — a mandatory expense by law.

Another big mandatory expense is Medicare – the health insurance program for people 65 and older.

“Flexible” spending, meaning spending that must be approved by Congress each year, includes defense ($874 billion, or 13 percent), transportation ($137 billion, or 2 percent), and education and social services ($305 billion, or 5 percent).

According to the US Congressional Budget Office (CBO), “flexible” spending accounts for about 25% of total spending in 2023, of which more than half is for defense.

So in theory, it’s easier to cut “flexible” spending than mandatory spending.

President-elect Donald Trump has said Musk and his government efficiency co-director Vivek Ramaswamy will save money by streamlining the bureaucracy, cutting redundancy and restructuring government agencies.

However, if the US wants to save $2 trillion from “flexible” spending, according to analysts, the US would have to completely shut down agencies such as transportation, agriculture, and homeland security. The reason is that total spending on this category in 2023 is only about $1.7 trillion.

The key point, according to the BBC, is that Mr Musk has not made clear whether he wants to save $2 trillion in one year or several years. However, many public finance experts in the US, even those who support spending cuts, are skeptical about the ability to achieve such savings in the short term without causing a recession in public services or facing public opposition.

Challenges in fiscal policy

Trump campaigned on a promise to increase Social Security benefits by making them tax-free, rather than cutting them. He also pledged to build an “Iron Dome missile defense system” to protect the United States, a reference to increased defense spending, not cuts.

A report from the US Treasury Department released on November 13 showed that the budget deficit of the world’s largest economy in October increased 287% compared to the same period last year, from 67 billion USD to 257 billion USD.

In fiscal year 2024, the US Treasury Department recorded a budget deficit of up to 1,833 billion USD, an increase compared to 2023 ($1,695 billion) due to higher spending, including paying interest on public debt.

Meanwhile, US public debt just surpassed the $35 trillion mark for the first time last July, an increase of nearly $12 trillion compared to 2020.

Since the beginning of the year alone, public debt has increased by 1,000 billion USD, reaching 97% of GDP.

The Committee for a Responsible Federal Budget (CRFB) predicts that without major spending cuts, the budget deficit will increase significantly due to Mr. Trump’s tax cuts, pushing the public debt to 143% by the middle of the next decade.

Source: tuoitre.vn (Minh Khoi)

Experience Superior Sound Systems at the Plase Show Exhibition in Ho Chi Minh City

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80 domestic and foreign brands compete to display their top-notch products specializing in sound and lighting for music stages, function halls, karaoke, etc.

On November 14, the Plase Show international exhibition opened in Ho Chi Minh City, attracting thousands of visitors to admire products serving the needs of users and businesses in the audio and lighting industry.

With an exhibition area of up to 4,000m2 ^, the exhibition includes 38 areas displaying products from 80 domestic and foreign brands. Among them are famous world brands such as: Yamaha, Nexo, Pioneer DJ, d&b audiotechnik, DiGiCo, Adamson, Allen & Heath, JBL, Shure, Sennheiser…

Visitors to the exhibition can experience firsthand many great sound systems at the booths.

In addition, users can also attend in-depth workshops to consult, instruct on how to use equipment, and update useful technology for professional audio workers.

The organizers said the exhibition will last until November 16 at the Adora Center (Tan Binh District). Admission is free.

Plase Show is an annual international exhibition held twice a year in Hanoi and Ho Chi Minh City. This is a playground for those who love sound as well as those working in the theater, karaoke , dance hall industries…

Source: tuoitre.vn (virtue)

AI’s E-Waste Crisis: New Research Predicts a 2,000-Fold Surge to 5 Million Tonnes by 2030

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New research suggests that the amount of electronic waste generated by artificial intelligence (AI) could increase 2,000-fold by 2030, reaching 5 million tonnes.

The explosion of artificial intelligence (AI) over the past few years has brought many benefits to humanity. However, humans are also facing a major concern that has not yet received due attention: what will we do with the huge amount of electronic waste we have created?

“The e-waste generated by AI, especially large language models (LLMs), could increase significantly and potentially reach 2.5 million tons per year by 2030 if no waste reduction measures are taken,” said Asaf Tzachor, a climate and sustainability researcher at Reichmen University in Israel.

Mr. Tzachor’s research team discovered that the amount of electronic waste from AI servers could reach 5 million tons by the end of this decade, about 2,000 times the amount of waste generated by AI in 2023, according to IFLScience on November 14.

The United Nations considers all types of e-waste in general a major problem, saying that “the 62 million tonnes of e-waste generated in 2022 could fill 1.55 million 40-tonne trucks, enough to line up around the equator.”

Tackling the e-waste problem has many benefits. First, it prevents millions of people, including children, from dying from exposure to toxic chemicals and pollution from e-waste. At the same time, e-waste is also a valuable resource and mineral that should be recycled.

“A tonne of iPhones contains more gold and silver than a tonne of ore from a gold or silver mine,” said Lisa McLean, a member of research group Circular Australia.

According to research, the adoption of circular economy strategies reduces e-waste by 16% and in the best-case scenario this can be as high as 86%. The circular economy is an economic model in which design, production and service activities aim to extend the life of materials and eliminate negative impacts on the environment.

The study makes clear that the e-waste crisis is global in nature, which is why it is important to focus on cross-border e-waste management.

There is no one-size-fits-all solution, but we should aim to extend the life of existing hardware and reuse or refurbish devices and components, Tzachor said.

“It is much easier and more cost-effective to address the e-waste challenges created by AI now before they get out of control,” Tzachor added.

The study was published in the journal Nature Computational Science.

Source: tuoitre.vn (Anh Thu)

Navigating the Complexities: Vietnam’s Logistics Industry Faces Key Challenges Amidst Global Shifts

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Vietnam’s logistics industry still faces many challenges such as infrastructure bottlenecks, fluctuations in freight rates and global competitive pressure.

The forum “Logistics in the global context” organized by the Ho Chi Minh City Logistics Association on November 15 is where experts, businesses and managers gather to discuss the opportunities and challenges of the industry in the context of economic fluctuations.

The “bottlenecks” that need to be removed

Speaking at the forum, Mr. Vo Van Hoan – Vice Chairman of Ho Chi Minh City People’s Committee – emphasized that logistics is currently a “trendy” field, playing a key role in improving the competitiveness of Vietnamese goods in the international market.

As the largest economic center in the country, with many advantages in terms of seaports, roads and aviation, Ho Chi Minh City still faces a series of challenges, including unsynchronized infrastructure, high logistics costs and limited regional connectivity.

Mr. Pham Thanh Son – Director of Tan Cang Hiep Phuoc Port Joint Stock Company – said that the role of logistics infrastructure in the supply chain is extremely important because it facilitates traffic and money.

Ho Chi Minh City currently has about 6,900 logistics enterprises, accounting for nearly 37% of the total number of logistics enterprises nationwide. However, the industry’s performance is still not commensurate with its potential.

According to Mr. Son, seaport systems such as Cat Lai and Nha Be… although achieving large output, are still limited by the lack of seamless connection between key economic regions such as Long An and Tay Ninh.

Furthermore, although the project to develop eight logistics centers in Ho Chi Minh City has been approved, implementation has yet to make a breakthrough. Railway connections to seaports are still fragmented, Tan Son Nhat airport is overloaded and the shipping channel has not reached the required depth.

These problems increase transportation costs and reduce the competitiveness of Vietnamese goods.

Coping with the “tornado” of fluctuations in shipping rates

One of the “hot” issues for logistics businesses is the fluctuation of sea freight rates .

For example, in 2020, the shipping price of containers to North America fluctuated at $2,000/container. By 2021, this number skyrocketed to $10,000, even peaking at $20,000/container.

By 2023, freight rates will drop sharply but increase again to $7,000-10,000 by mid-2024. Import-export businesses are in a difficult position.

Transport contracts are often signed for long periods, while freight rates fluctuate rapidly, making cost forecasting and planning impossible. With large shipping alliances dominating the market, Vietnamese businesses are increasingly disadvantaged.

This is not only an economic issue but also a strategic problem of how to reduce external dependence and build a more autonomous logistics ecosystem.

According to Ms. Vo Thi Phuong Lan – Chairwoman of the Board of Directors and General Director of ASL Logistics, the instability of freight rates makes it difficult for businesses to predict operating costs, reducing profits and competitiveness. In particular, the dominance of large shipping alliances makes the market even more difficult to control.

To respond to current challenges, experts and businesses propose strategic solutions.

For example, building long-term partnerships with major shipping lines, ensuring stable freight rates and maintaining shipping capacity in volatile environments. Digitalization and smart technology application.

Investing heavily in railways connecting seaports, upgrading highways and beltways, developing modern logistics centers…

At the same time, it is necessary to diversify transportation providers, reduce dependence on one source of supply, thereby increasing flexibility when the market fluctuates.

Vietnam – a new bright spot in global logistics

At the forum, many businesses and experts commented that the global supply chain shift out of China is giving Vietnam a great opportunity to become a regional logistics center.

Without improving infrastructure, digitizing processes and moving towards sustainable development, Vietnam will lose its advantage to regional competitors.

According to forecasts, by 2025, the world’s container shipping capacity will increase by 8%, while demand will increase by 3-5%.

This opens up opportunities for price stability, but impacts from energy crises, tariff policies or trade wars remain potential risks.

Source: tuoitre.vn

Aave Gauges Community Interest for Expansion to Bitcoin Layer 2 Spiderchain

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The potential deployment on a Bitcoin layer 2 by the largest DeFi lending protocol highlights the appetite for harnessing the original blockchain for purposes that are commonplace elsewhere in the crypto ecosystem.

Aave, the largest decentralized-finance (DeFi) lending platform, is canvassing its community to gauge the level of interest in deploying on the Bitcoin layer-2 network Spiderchain.

The Aave-Chain Initiative (ACI), the driving force behind the protocol, published a call for comments on the proposal by Spiderchain developer Botanix Labs to expand the lender with more than $17 billion in total value locked into the emerging Bitcoin DeFi environment.

The idea of deploying on a Bitcoin layer 2 highlights the appetite for bringing functionality that is common elsewhere in the crypto ecosystem to the original blockchain. The bitcoin (BTC) price soared above $90,000 for the first time this week, reaching an all-time high of $93,445, as its dominance of the crypto industry reached 61.38%. Developers of projects native to other networks may be seeking to harness the deep reserves that are held in BTC.

Botanix Labs developed Spiderchain to be compatible with protocols that use Ethereum Virtual Machine (EVM), the software that powers Ethereum and enables smart contracts. Botanix’s goal is to allow any Ethereum-based application to be compatible with Bitcoin.

After feedback is gathered, the protocol will need to identify and mitigate potential security risks. ACI hasn’t offered any expected timescale for this process.

Aave’s native token (AAVE) has fallen just under 8% in the last 24 hours to just under $168, according to CoinDesk Indices. This drop is likely a reflection of the broad pullback across the crypto industry following BTC’s surge above $90,000 on Wednesday.

Is Bitcoin on Shaky Ground? Market Signals Reflect Patterns That Foretold the Recent Slide in Trump Media Shares

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BTC’s rally has stalled amid hawkish comments from the Fed officials.

As bitcoin’s (BTC) price struggles to secure a foothold above $90,000, developments in the Deribit-listed options market tied to the cryptocurrency resemble patterns that foreshadowed the recent price slide in the Trump media shares.

The pattern referred to here is the implied probability distribution, representing markets’ expectations for the underlying asset’s future price derived from options prices at different strike prices and expiration dates. It shows the probabilities traders assign to the asset reaching different price levels.

Per data tracked by crypto financial platform BloFin, the implied probability distribution now shows a “left shift,” suggesting that the market participants see a higher probability of BTC trading at lower prices from here.

“A typical indicator is the implied probability distribution: whether it is MSTR, COIN or Deribit’s BTC options, the implied probability distribution of different expiration dates has shown a significant left shift,” Griffin Ardern, head of options trading and research at crypto financial platform BloFin, told CoinDesk in a Telegram chat. “It seems that traders have an implied consensus that the prices of BTC and altcoins are still high, and more pullbacks may be on the way.”

Ardern added that a similar left shift was seen in the DJT options market, presaging the recent price slide. The share price has halved to $27 in just over two weeks, according to charting platform TradingView. DJT surged to a high of $54 at the end of October, as markets priced in a potential victory of Republican candidate Donald Trump’s victory in the U.S. election held on Nov. 5.

Well, pro-crypto Trump emerged victorious as expected, and since then, BTC has surged by over $20,000, tapping the $93,000 mark at one point.

As of writing, the cryptocurrency changed hands at $88,100, according to CoinDesk data.

Hawkish comments from the Fed officials support the case for a price pullback suggested by the implied volatility distribution. On Thursday, Chairman Jerome Powell said that the economy is not sending any signals that we need to be in a hurry to lower rates, dashing hopes for faster liquidity easing. Since September, the Fed has already cut rates by 75 basis points, offering bullish cues to risk assets.

That said, most market participants continue to be bullish, taking bets that would profit from a potential price rise beyond the $100,000 barrier.

If You’re Having a Bad Day, This Story Will Lift Your Spirits

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Comedian Charlie Chaplin once shared a touching story:

“When I was a child, I went to the circus with my father. As we stood in line to buy tickets, there was a family of six children in front of us. The children were buzzing with excitement, talking non-stop about the circus. When it was their turn to buy tickets, the father asked about the price, and upon hearing it, he leaned over to his wife, clearly uncomfortable.

I watched as my father quietly pulled a $20 bill from his pocket, dropped it on the ground, picked it up, and placed it into the man’s hand, saying, ‘Sir, you dropped this.’ The man looked at my father, his eyes filled with gratitude and tears. He softly said, ‘Thank you, Sir.’

After the family entered the circus, my father took my hand, and we left the line. He had given away the only money he had. That day, I didn’t see the circus, but I saw something even more beautiful. That moment has stayed with me my whole life, and I have always been proud of my father for it.”

Charlie Chaplin, the King of Comedy, lived to be 88 years old and left us with these profound insights:

Nothing is permanent in this world, not even our troubles.
I like walking in the rain because no one can see me cry.
The most wasted day in life is the day we do not laugh.
There are six best doctors in the world: Sunlight, Rest, Exercise, Diet, Self-respect, and Friends.

Follow these words of wisdom throughout your life, and you will enjoy health and happiness.

Exporting from Vietnam to the U.S.: Key Insights on Customs Compliance, Tariffs and Duties

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As Vietnam solidifies its role as a leading manufacturing hub, it attracts a growing number of global exporters seeking to tap into its production capabilities. However, exporting to the United States entails navigating complex customs compliance requirements and tariff structures.

This guide provides insights from industry experts on the essentials of customs compliance and the crucial role customs brokers play in managing Vietnam-U.S. exports effectively.

Customs Compliance: A Foundation for Successful Exports to the U.S.

Navigating customs compliance involves strict adherence to both Vietnamese regulations and U.S. import laws. This process includes preparing accurate documentation, classifying products correctly, and meeting legal standards, which collectively help avoid costly delays, fines, or penalties. These steps form the backbone of international trade and are critical for exporters aiming to streamline their operations.

This video provides valuable insights into customs clearance, covering essential paperwork, the role of customs agents, and how customs administration ensures shipments comply with regulations.

For Vietnamese exporters targeting the U.S., essential documentation includes:

Commercial Invoice: Establishes the goods’ value for customs purposes.
Packing List: Details the type, quantity, and packaging of each item.
Bill of Lading: Serves as proof of shipment and carrier responsibility.
Certificate of Origin: Verifies the origin of the goods, often required to qualify for trade preferences.
Import/Export Licenses: Required for specific products as mandated by Vietnamese and U.S. regulations.

The Customs Declaration Process

The customs declaration process requires meticulous preparation and document submission. Exporters must submit documents electronically to Vietnamese customs authorities, detailing descriptions, quantities, and classifications. If all documentation is correct, customs clearance is granted. However, certain shipments may be flagged for inspection, which can vary from basic document checks to physical inspections for higher-risk items. To minimize potential delays, exporters should ensure that documents are well-organized and accessible for review.

Calculating Duties and Taxes for U.S. Export Goods

Duties and taxes are calculated according to the Harmonized System (HS) Code, a standardized classification that dictates the applicable tax rates for various product types. Accurate classification is essential, as tax rates directly affect overall shipping costs. Customs brokers and tax specialists familiar with HS Codes can help exporters with precise estimates, minimizing the risk of costly misclassifications.

Common Pitfalls in Compliance for U.S. Exports

The regulatory landscape is often complex and dynamic, with frequent updates that can impact compliance. Documentation errors, particularly inconsistencies in product descriptions across documents, are among the most common issues. For example, discrepancies between the Commercial Invoice and Packing List can trigger inspections and delays. To avoid this, exporters should stay informed about regulatory updates and consider working closely with a customs broker to ensure seamless compliance.

Leveraging Customs Brokers for Compliance Efficiency

Customs brokers are invaluable partners for exporters, handling documentation, classification, and liaising with customs authorities. For small and medium-sized enterprises (SMEs), working with a customs broker can save time, reduce compliance stress, and prevent costly errors. When choosing a broker, exporters should prioritize industry expertise, transparency on fees, and clear, responsive communication. A proactive broker familiar with U.S. import requirements can significantly ease the export process and prevent compliance pitfalls.

Understanding Brokerage Fees and Training Options

Brokerage fees vary based on transaction complexity and services provided. It’s essential for exporters to clarify costs upfront to avoid misunderstandings. For companies seeking to build in-house customs expertise, certification programs are available, particularly for those with high export volumes to the United States.

Resources for Managing Duties and Ensuring Compliance

Exporters looking to expand their knowledge of import duties and regulations can access a variety of online tools, such as import tax calculators and detailed guides that outline the financial feasibility of exporting to the U.S. Collaborating with experienced customs brokers or consultants offers exporters a comprehensive financial overview, helping ensure compliance and providing a solid foundation for sustainable export strategies.

Customs compliance is more than just a regulatory requirement; it’s a strategic advantage for businesses in global trade. By keeping organized records, staying current on regulations, and working with reliable customs brokers, Vietnamese exporters can position themselves as trusted players in the U.S. market, ready to meet the demands of international trade efficiently and responsibly.

WORKSHOP “XANH GAI, SÁNH GỐNG” – KHƠI DẬY TINH HOA NGÀNH MAY DỆT VÀ THỔ CẨM TRUYỀN THỐNG

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Ngày 17/11, tại Triển lãm Vân Hồ, số 2 Hoa Lư, Hai Bà Trưng, Hà Nội sẽ diễn ra workshop “Xanh gai, Sánh Gồng”, một không gian mang đậm tính truyền thống và văn hoá bản địa do Empower Women Asia (EWA) – dự án thuộc tổ chức phi chính phủ Keep It Beautiful Vietnam (KIBV) tổ chức. Sự kiện nhắm đến những nhóm đối tượng những bạn trẻ, những người đam mê thời trang và nghệ thuật truyền thống, và những người khác du lịch nước ngoài với niềm yêu thích được tìm tòi về văn hoá bản địa.

Workshop hứa hẹn sẽ mang đến những giá trị sâu sắc về thời trang bền vững, sử dụng những chất liệu thổ cẩm dân gian như sợi gai dầu – linh hồn chính của sự kiện. Sự góp mặt của những gương mặt tiêu biểu, đại diện cho những giá trị tinh hoa ấy bao gồm: bà Rachel Nguyễn – founder tổ chức KIBV, bà Trần Thị Thu Hoàn – Trưởng đại diện của tổ chức KIBV tại Việt Nam, bà Ngọc Anh – NTK của La Phạm, bà Thạch Thuỷ Tiên – NTK trẻ và bà Corinna Joyce – Giám đốc/ Giảng viên Chương trình Cấp cao, RMIT.

Đến với workshop, người tham dự sẽ được trải nghiệm một hành trình du lịch văn hoá với vô vàn những sự kiện và hoạt động trải nghiệm đặc sắc. Trong số đó, buổi đàm thoại về thời trang bền vững: “Hồi sinh Truyền thống, Đổi mới Tương lai: Thực hành Thời trang và Thiết kế Bền vững”, kết hợp cùng màn trình diễn bộ sưu tập “Mountain Dreams” của nhà thiết kế nổi tiếng La Phạm sẽ khiến khán giả phải suy ngẫm một cách sâu sắc về sự cấp bách và tính nghệ thuật trong vấn đề sử dụng những chất liệu thân thiện với môi trường trong ngành dệt may thời trang.

Ngoài ra, quý khách tham dự còn được đắm chìm vào không gian nghệ thuật của những bức tranh phác hoạ quy trình dệt may vải, từ đó tự tay trải nghiệm thực hành dệt và nhuộm vải thủ công. Đặc biệt, hoạt động trên sẽ được đồng hành bởi các nghệ nhân gồm chị Vàng Thị Dế thuộc dân tộc H’Mông, và chị Sầm Thị Tình, một nghệ nhân tiêu biểu người Thái. Hơn thế nữa, nhằm quảng bá giá trị văn hoá và truyền thống của nhóm dân tộc thiểu số vùng Tây Bắc, những món ẩm thực cùng vùng miền cũng sẽ được phục vụ để quý khán giả có thể thưởng thức trọn vẹn nhất nét tinh tế trong nghệ thuật văn hoá truyền thống các nhóm dân tộc thiểu số.

Đặc biệt, đây là cũng là một cơ hội để EWA có thể lan tỏa những giá trị cốt lõi của dự án đến với cộng đồng nhằm giúp đỡ, nâng cao trình độ kỹ thuật và hỗ trợ thúc đẩy tiềm lực kinh tế cho nhóm phụ nữ và trẻ em gái tại các vùng cao Việt Nam. Chính vì vậy, ban tổ chức chương trình rất mong nhận được sự chú ý từ các cơ quan báo chí và truyền thông trong nước, nhằm lan tỏa rộng rãi những giá trị ý nghĩa mà chúng tôi muốn gửi gắm thông qua các hoạt động xuyên suốt sự kiện. Workshop “Xanh gai, Sánh gồng” không chỉ mang đến kiến thức mà còn truyền tải thông điệp về thời trang bền vững và bảo tồn nghề dệt truyền thống.

Long An Hosts 2nd Annual Culture – Sports – Tourism Week

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The event will be held from November 28 to December 4, featuring numerous exciting activities, including the participation of provinces from South Korea.

The second Long An Culture – Sports – Tourism Week in 2024, themed “The Aspiration of Vam River,” will include 11 main activities aimed at showcasing the province’s unique tourism offerings, culinary specialties, and cultural heritage. The event will also host various sports competitions and a grand music festival.

South Korea will participate in several key events, including the Long An – Korea Tourism and Culinary Trade Fair, the Long An – Korea Friendship Golf Tournament, and the Hite Jinro Festival 2024 music night.

Long An, located at the gateway to the Mekong Delta and near Ho Chi Minh City, has strong potential for tourism development, combining both modern facilities and the charm of the riverine southern region. The event will also feature the Long An Investment Promotion Conference 2024, as well as a Conference on Tourism and OCOP Product Promotion and Cooperation between Ho Chi Minh City and the Mekong Delta region.

Identity set of Long An Culture – Sports – Tourism Week 2

According to Mr. Nguyen Thanh Thanh, Director of the Department of Culture, Sports, and Tourism of Long An, the event serves as a means of foreign information dissemination and promotion, highlighting Long An’s potential, strengths, and investment opportunities while celebrating the traditional, cultural, human , and natural resources of the province.

“After hosting the first Culture – Tourism Week in 2022, the province saw a 60% increase in visitor numbers year-over-year. This year, the organizers welcome around one million visitors,” Mr. Nguyen Thanh Thanh stated.

@vtv.vn

Da Nang to Host Series of Christmas and New Year 2025 Events

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From December 14, 2024, to January 2, 2025, Da Nang will host the “Danang X’mas – New Year Festival 2025,” a Christmas and New Year festival with numerous activities to attract tourists.

The Da Nang People’s Committee recently released its plan for the “Danang X’mas – New Year Festival 2025,” a large-scale cultural and tourism event designed to attract both domestic and international visitors to Da Nang for the New Year 2025.

Da Nang will organize a series of events to welcome Christmas and New Year 2025. Photo: Canva

Festival Opening Ceremony

The Christmas and New Year festival will officially open at 5:00 PM on December 20, 2024, and run until 10:00 PM on the same day at the northern scenic plaza on the west side of the Dragon Bridge. The opening will feature a parade with 200 participants dressed as Santa Claus, Snow Queens, and reindeer, accompanied by marching bands, dance performances, and singing along Bach Dang Street from the Nguyen Van Troi Bridge to the Dragon Bridge.

The festival will also include cocktail demonstrations, a Christmas tree lighting ceremony, Santa Claus gift-giving, New Year wishes, and a Christmas-themed performance.

Tourists on Bach Dang walking street. Photo: Xuan Vinh

Christmas and New Year Market

The Christmas and New Year 2025 Market will feature two main sections: one showcasing souvenirs and decorations, and the other dedicated to Vietnamese and international cuisine. In the souvenir area, visitors can shop for Christmas items, New Year 2025 gifts, OCOP products, and unique decorations.

The food area will offer both local and international dishes, including classic Christmas and New Year treats like Vin Chaud (hot mulled wine), cheese, pizza, sausages, grilled foods, and sweet treats.

The market will be open from 5:00 PM to 10:30 PM daily from December 20, 2024, to January 2, 2025, at the eastern riverside park near the Dragon Bridge (Tran Hung Dao – Ly Nam De area).

Recreational and Experiential Space

From 7:00 PM to 10:00 PM between December 20, 2024, and January 2, 2025, the northern scenic plaza and eastern riverside park of the Dragon Bridge will host entertainment and experiential spaces to celebrate Christmas and New Year.

Activities include Christmas tree decorating, Santa Claus costume contests, candy cane relays, and stocking-filling games. Visitors can also enjoy scavenger hunts for Christmas baubles, puzzles, beer and sausage eating contests, and a painting activity themed “Wishes for the New Year 2025.”

In addition, themed art performances will be held from 7:00 PM to 10:00 PM during this period at the northern scenic plaza and the eastern side of the Dragon Bridge.

Christmas and New Year Photo Zone

From December 14, 2024, to January 2, 2025, Da Nang will set up a “Christmas – New Year 2025” photo zone with three unique installations, each with a different theme. The displays include a Christmas light tree on the northern scenic plaza, west of the Dragon Bridge; a Christmas and New Year 2025 gift box display on the northern scenic plaza, east of the Dragon Bridge; and a “Welcome New Year 2025” sign at the southern scenic plaza, west of the Dragon Bridge.

@SGtiepthi

Extended Night Operations at Select Airports During Lunar New Year

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The Tho Xuan, Dong Hoi, Chu Lai, Phu Cat, Pleiku, and Tuy Hoa airports will extend their night-time operating hours for the upcoming Lunar New Year holiday.

The aviation industry is preparing for the Tet peak season. Photo: T.L.

The Civil Aviation Authority of Vietnam (CAAV) reported that it has received requests from Vietnam Airlines, Vietjet Air, and Bamboo Airways to extend night flight operations at select airports during the Lunar New Year 2025 (Year of the Snake).

In response, to meet the travel demand from January 14 to February 12, 2025, the aviation authority has involved the Airports Corporation of Vietnam and the Vietnam Air Traffic Management Corporation to proactively allocate resources and coordinate with airlines and other airport stakeholders to implement extended night operates at Tho Xuan (Thanh Hoa), Dong Hoi (Quang Binh), Chu Lai (Quang Nam), Phu Cat (Quy Nhon, Binh Dinh), Pleiku (Gia Lai), and Tuy Hoa (Phu Yen) airports.

Additionally, to meet the operational plans of airlines during this peak period, the CAAV has taken preparatory steps, such as facilitating airlines in expanding their fleets, adjusting slot allocation parameters at Tan Son Nhat Airport, and instructing airport service units to build plans and allocate resources to be ready for night operations.

The authority also announced it will monitor reservation trends and domestic airfare prices to promptly guide airlines in adding capacity on routes with high demand, ensuring adequate service for passengers during the 2025 Lunar New Year peak.

Currently, airlines are actively leasing additional aircraft to meet holiday demand.

Vietnam Airlines has announced plans to increase flights, expecting leasing an additional four Airbus A320/A321 aircraft, including two wet leases.

A Vietnam Airlines representative said that each aircraft is expected to operate 180 flights during the peak Lunar New Year season. Leasing two aircraft will add 64,800 seats, while leasing four will provide an additional 129,600 seats. Thus, the airline aims to quickly coordinate with service providers to receive the aircraft as planned.

Each aircraft, with a capacity of 180 passengers, will be staffed by flight attendants from both Vietnam Airlines and international partners, meeting the airline’s service standards, except for in-flight entertainment.

Meanwhile, Bamboo Airways CEO Luong Hoai Nam shared that over the past year, the airline has been actively searching for and negotiating with aircraft lessors worldwide to bolster its fleet in light of the global aircraft supply shortage.

According to Mr. Nam, Bamboo Airways is continuing discussions with partners and expects to welcome new aircraft before the 2025 Lunar New Year.

@Znews