Fitch sees bright future for Vietnam

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Vietnam’s economy is on a more positive growth momentum than last year, with strong foreign direct investment (FDI) capital inflows, increased foreign exchange reserves and strictly controlled foreign debts, according to Fitch Ratings.

At the ‘Fitch on Vietnam’ forum held in Hanoi on Friday, Sagarika Chandra, Fitch’s associate director and primary sovereign analyst for Vietnam, said Fitch Ratings last month upgraded Việt Nam’s long-term foreign-currency issuer default rating (IDR) to “BB” from “BB-” with a stable outlook, thanks to the country’s improved external buffers and strong macroeconomic performance. VNS reports

Compared to other emerging countries as well as other “BB” rated peers, Vietnam currently has a high growth rate, Chandra said, adding that the country’s GDP (gross domestic product) growth accelerated to 6.8 per cent in 2017 and looks set to grow by another 6.7 per cent this year.

This is one of the important factors in upgrading Vietnam’s credit rating, she added.

Besides, the country’s macroeconomic stability, a cushion against external shocks and satisfaction in certain financial criteria were also key drivers for Fitch’s upgrading to Vietnam, she said, adding that the Vietnamese Government adopted a flexible exchange-rate mechanism in January 2016 besides pledging to limit the national debts and restructuring State-owned enterprises (SOEs).

According to Fitch’s forecast, Vietnam will “remain among the fastest-growing economies in the Asia-Pacific region, and fastest among ‘BB’ rated peers.

At the forum, many experts also pointed out that Vietnam’s economy has several internal and external strengths, ranging from capital inflows, labour and productivity in the agricultural, processing and manufacturing sectors, which creates a sustainable structure.

Cấn Văn Lực, chief economist of the Bank for Development Investment of Vietnam (BIDV), said that the Vietnamese economy has many positive outlooks with the recognition of international organisations such as the World Bank (WB) that has recently also raised its outlook for Việt Nam’s economic growth to 6.8 per cent from the previous forecast of 6.5 per cent.

According to Lực, increase in the private sector spending (at about 10 per cent in the past year) and the private investment capital source are also causes making Vietnamese economy more attractive.

In addition to positive factors, Sebastian Eckardt, lead economist of the World Bank in Việt Nam, pointed out some risks and challenges for the country’s economy in the coming time.

With a highly open economy, Vietnam is likely to be exposed to external factors, such as trade wars, high oil prices or geopolitical instability, he said.

In addition, tightened monetary policies of central banks will also have a great impact on the world’s economy and of course, Việt Nam is not out of the circle of influence, he said.

Cybersecurity: Securing Personal Information

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Technology has come a long way. The advancement of technology has paved the way for much more development in the fields of medicine, transportation, economics, finance, and many more. Along with the multitude of benefits that came with the rapid growth of technology came some issues, one of which is cybersecurity.

Many businesses today rely on technology for the majority of the processes that occur within their organization. From simple document filings to multi-million financial transactions, companies rely on technology to make sure that these tasks get accomplished. Since these tasks are done through the use of technology, they are vulnerable to cyber attacks. Businesses should be as diligent with their cyber security as much as they are when it comes to physical security; they employ security guards and install surveillance cameras so why does their cybersecurity measures be any different?

Cyber attacks can disrupt a company’s daily routine, but the more significant problems that this may cause are substantial financial and reputational damage. Who would want to do business with a company that has been compromised by hackers? There are many instances of companies being hacked in the recent years. Big companies like Adobe Systems, Yahoo!, and eBay have been victims of cyber attacks perpetrated by professional hackers that resulted in data breaches.

If you think that cyber attacks don’t concern you as an individual, you’re sorely mistaken. The personal information that you use on any platform on the Internet, like your social media accounts or personal online banking accounts, can be used by hackers to steal your identity or money. In fact, many of these hackers are intent on getting personal information because of the monetary gain. Online shopping requires your credit card information to finish the transaction, now imagine if a hacker got a hold of this data from millions of people in one fell swoop? That could amount to millions of dollars.

Companies have now realized the importance of cybersecurity and improvements in their cybersecurity infrastructure has been improved. As an individual who uses the Internet, you should also start taking precautions to keep your personal information safe. Here are some tips to protect your personal information:

1. Start offline. – Keep your financial documents and personal records in a safe place at home. Make sure to only bring necessary identification cards, credit or debit cards, and insurance card when you leave your house. Don’t carry your social security card with you unless you will use it. When giving out information at work, the doctor’s office, or a commercial establishment, make sure to ask what they need it for, how they plan on protecting the information, and the consequence of not sharing the information. Destroy documents containing your personal information once you don’t need it anymore.

2. Be vigilant online. – Beware of e-mails that do not come from trusted sources. Do not enter your personal information into any forms online unless you initiated the contact with the website. Banks and other financial entities will never ask you for your personal information online. If you’re unsure, it’s best to contact the company themselves. Go to the company’s official website and contact them through their customer service.

3. Clean your hardware. – Before disposing of a computer or mobile device, make sure that you clear all of your personal information from it. Check user manuals or online resources about how to completely wipe your device. Make sure to delete all messages, contact details, call history, Internet browsing history, voicemails, and media like photos and videos before you dispose of the device.

4. Rules for passwords. – It’s best to have a longer password with a mixture of letters, numbers, and special characters; this will make your accounts harder to get into. Do not share your password with unverified sources. Try to change your passwords every couple of months to make sure that your data is secure.

By Hogan Injury

Airbnb: Hosts and Guests Protection

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Traveling around the world has now become so much more convenient. Booking flights and accommodations can now be done with a swipe of your finger on your smartphone. Aside from this, booking a place to stay has become more affordable. There is a multitude of options out there, from 5-star hotels, backpacker hostels, and the most popular home-sharing service Airbnb.

Airbnb is an online marketplace and hospitality service for people who are looking to rent or lease lodgings for their travels. Airbnb offers a wide variety of spaces that a customer can choose from; apartments, holiday cottages, homestays, even hotel rooms and hostel beds. Although Airbnb doesn’t own real estate properties, they have become one of the biggest accommodation providers.

When traveling, two of the major concerns are safety and security. Airbnb offers Host Protection Insurance, but this is far from comprehensive. The insurance is similar to premise liability where the establishment covers liability and damage claims when a customer, in the case of Airbnb, the renter, gets into an accident while inside the home that they are renting. The insurance also covers any injury that the renter causes inside the property, meaning that if the renter accidentally injured another tenant in the apartment complex where they are renting.

Airbnb’s insurance doesn’t cover the host’s personal property. If a renter damages any of the furniture, fixture, or other belongings of the host, Airbnb will not be liable for its repair or replacement. Their insurance also doesn’t cover issues that may cause damage or injury to the guests like molds or bed bugs. If you’re planning on becoming an Airbnb host, it’s still best to get a homeowner’s insurance for instances when Airbnb’s coverage won’t be able to cover the cost of injury or damages. Here’s the full information about Airbnb’s Host Protection Insurance.

If you’re a guest who plans on renting an Airbnb space, you should always take precautions, especially when you’re traveling abroad. Here are some tips to help you stay safe and secure:

1. Read and digest. – When looking at an Airbnb listing, it’s best that you take time to read about the place you plan to rent. Check the place’s description, the list of amenities available for guests, and the house rules. Check the reviews; this is especially helpful for you to know what previous renters’ experience was like during their stay. Take time to check the host’s verified phone numbers, social media accounts, and references. You can also look for hosts who already has an excellent standing on Airbnb.

2. Keep all transactions within Airbnb. – Whether you’re using the website or the app, it’s best that you keep all of your communications and transactions within Airbnb; this ensures that Airbnb can monitor everything that is going on between you and the host. Airbnb can also safeguard your personal information better when you stay within their network, helping them to lower the risk of fraud and other security issues.

3. No cash transactions. – Although Airbnb charges additional fees (percentage and reservation fees), it’s still best to use their website or app to book your accommodation instead of paying your chosen host with cash. These fees enable Airbnb to protect you or the host in case something untoward happens during your stay.

By Hogan Injury

Saliva-based HIV tests now available at low prices in Vietnam

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Vietnamese health authorities have begun distributing thousands of saliva-based HIV tests throughout the country, delivering a more convenient alternative to those who may need to be tested.

The Ministry of Health is in the process of providing nearly 80,000 saliva-based HIV tests in different areas of the country, according to Vu Hai Son, from the Vietnam Administration of HIV Control.

The majority of the tests are being given in Hanoi and Ho Chi Minh City, though many more are expected to be carried out in the northern province of Thai Nguyen, Can Tho City in the Mekong Delta, and Ba Ria-Vung Tau Province near Ho Chi Minh City, Son said.

Son underlined that this HIV diagnosis has 100 percent sensitivity and 99 percent specificity.

In medical tests, sensitivity is the ability to identify those with the disease while specificity is the extent to which a test can identify those without the disease.

In the case of the tests being given out by the government, all test results are positive when HIV is present, and 99 percent of test results are negative when the condition is absent.

A disadvantage of the method, he said, is that it is prone to be inaccurate when performed on patients who have undergone antiretroviral therapy – a treatment to maximally suppress the HIV virus and cease the development of HIV disease – for many years.

He advised that those who take the test consider also participating in a blood test in order to obtain conclusive results.

HIV test kits can be purchased online for about US$20 before shipping, but the ministry has been able to purchase them at just one tenth that price following a deal with an American producer, Son said.

“The price is lower than that offered in the U.S. because they have been subsidized. Those who need to have a HIV test can now access newer and faster anonymous home testing before visiting the hospital,” he added.

There has been a decline in the number of children infected with HIV each year in Vietnam, from 500-600 several years ago to an average of 200. The ministry hopes to reduce that figure to 60 in the coming years.

But the percentage of men contracting HIV from having sex with other men (MSM) is increasing in the Southeast Asian country, according to the Vietnam Administration of HIV Control.

The current statistic, Son said, stands at 12 percent; and over 50 percent of HIV-infected people from MSM are under age 22.

About 170,000 people in Vietnam belong to the MSM group, which accounts for 0.7 percent of the 15-49 demographic, Son said.

Source: Tuoitrenews

Car owners to be fined for wedding photo shoot on highway

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The police said they would fine the owners of 30 cars which illegally parked on the Hanoi-Hai Phong Highway to take wedding photos on June 7.

The representative of the Traffic Police Department’s Team 2 said, “We have been informed about the case but it was difficult to apply the fines in person. We’ll issue fines to the car owners using images from the security cameras. The cars have license plates from Hanoi so we’ll clarify the information and ask the car owners to go to the police stations to pay fines.”

Fines for such violations are from VND5m (USD200) to VND6m and drivers will be withdrawn licenses for two months. It’s difficult to deal with wedding and especially funeral vehicles that violate the traffic rules since no-one wants to cause disputes during such times.

“Parking on the highway is dangerous for everyone. We hope highway drivers will be more aware of the dangers and ensure traffic safety for themselves and other drivers,” said the representative of Vietnam Infrastructure Development and Finance Investment JSC, the manager of Hanoi-Hai Phong Highway.

At 9.45 am on June 7, 30 wedding cars casually parked on Hanoi-Hai Phong Highway when going through Hai Duong Province to take photos. They occupied three out of four lanes of the road whose speed limits are from 60 to 120 km/h and made other drivers upset.

Source: Dtinews

Despite Infront confirmation, VTV denies owning World Cup TV rights

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VTV has once again denied owning the 2018 World Cup’s TV rights, despite the announcement made by Infront Sport & Media AG at 11 PM yesterday to agree to sell the rights.

Vietnam Television (VTV)’s representative this morning confirmed to VIR: “We have no information about the issue.”

vnexpress.vn stated that in the afternoon of June 7, Vietnam Television (VTV) proposed the last price for the 2018 World Cup’s TV rights to Infront Sport & Media AG, the firm distributing the broadcasting rights to the world’s largest football league.

Vietnam is the only country member of the Fédération Internationale de Football Association (FIFA) that has yet to settle broadcasting rights for the 2018 World Cup.

As of the night of the same day, the firm agreed to VTV’s offer, and the two sides will officially sign the purchase contract today (June 8), according to vov.vn.

Currently, the price offered by VTV remains unknown. While vnexpress.vn stated that the price is lower than or equal to the $7 million paid for the 2014 World Cup, vov.vn stated that it may only be lower than the $14 million previously offered by Infront Sport & Media AG.

In an interview with VTV on June 5, Nguyen Ha Nam, chief of the VTV Secretariat and Editorial Board, said that VTV was working with other domestic televisions, telecom companies, and media companies to jointly purchase the broadcasting rights.

“The offer of VTV on May 29 included contributions from several domestic partners,” Nam added.

An unofficial source stated that maybe a big corporation chipped in with $5 million to help VTV buy the TV rights. In addition, the firm also paid an extra of $1 million for advertisements before or after the matches.

Source: VIR

Facebook apologizes for privacy glitch that affected up to 14 million users

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Company says it will notify users affected by bug that led to posts being published publicly that were intended to be private

Facebook said Thursday that it would notify 14 million users that posts they intended to share privately may have been published publicly, the company’s latest setback as it tries to rebuild user trust after the Cambridge Analytica scandal.

The issue arose from a bug affecting Facebook’s “audience selector” tool, which allows users to decide whether to publish a post only to their friends or to a broader audience. The tool usually remains on the setting that was used most recently so that a user who only wants to share posts with friends does not have to keep selecting that option. But while the bug was active, from 18 May to 27 May, the setting was automatically changed to public.

“We have fixed this issue and starting today we are letting everyone affected know and asking them to review any posts they made during that time,” Erin Egan, Facebook’s chief privacy officer, said in a statement. “We’d like to apologize for this mistake.”

Facebook said it had reverted the audience settings to users’ prior preference. It will also show affected users a notification with an explanation and apology, and urge them to review any posts they made during the time period when the bug was active.

The company’s quick admission of the error appears to be part of its efforts to increase transparency and regain trust following the Cambridge Analytica revelations. This spring, Facebook was harshly criticized for failing to inform users whose data had been improperly shared with the political consultancy until more than two years after the Guardian had first reported on the issue.

The two privacy lapses involve very different types of data, however. Jonathan Albright, the research director at the Tow Center for Digital Journalism at Columbia University, has argued that Facebook’s audience tools, which it often touts as giving user’s control over their privacy, should instead be deemed “publicity settings”, because they only affect the audience of information that a user chooses to publish.

The data involved in the Cambridge Analytica scandal was the massive amounts of information that Facebook gathers from users’ online behavior – such as liking posts or browsing the web – in order to target them with advertising.

Source: Theguardian

Land sales in HCM City drop

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Sales of land plots have decreased significantly in HCM City in the last 10 days in districts 2, 9 and Thu Duc, where so-called land fever had broken out over the last few months.

Le Hoang Chau, chairman of the HCM City Real Estate Association, said that according to property brokers in these areas, sales volume had dropped by around 40 per cent compared to the peak period last month.

The land liquidity there has fallen by 60 per cent compared to the previous months. “It’s difficult to predict the status of the market right now,” he said.

Chau attributed the situation to the limited supply of new land plots available for sale. Thus, investors have few choices, while the prices in the secondary market are too high.

Land prices have increased by 30-50 per cent compared to the end of last year and by 100-200 per cent in the past 12-18 months, he said.

The latest development has seen new investors entering the market with caution, while land speculators are finding it more difficult to sell their land plots.

New investors are waiting rather than rushing into the secondary market, resulting in a significant drop in land transactions, according to property experts.

Experts said the current slowdown was a positive sign that was needed to prevent a real estate bubble or crash.

Meanwhile, buyers of housing in which they will live believe that current prices are too high, and therefore they are reluctant to take out bank loans because of the fear of an increase in interest rates.

In addition, sales of land plots in the city’s districts 12, Binh Tan and Binh Chanh have declined recently.

According to a property company which specialises in land plots, the number of successful transactions in these areas has plummeted by 70 per cent compared with the first five months of the year.

The price of land plots in these areas in early January was an average of VND15 million (US$658) per sq.m on Pham Van Hai, Le Minh Xuan and Tan Quy Tay roads, but now has soared to VND25-27 million per sq.m.

The peak time of land transactions occurred in April and May.

Doan Thien Viet, general director of Dai Thang Real Estate Ltd Co, said liquidity had dropped by 50-60 per cent compared to the previous months. Even so, the current price is too high, far beyond the real value.

The Government decision that has made it more difficult to divide land for sale has also contributed to the decline in land sales, according to Viet.

Investors have become cautious in buying big land plots to divide land for sale to secondary buyers.

Nguyen Van Trung, a broker in Binh Thanh District, told Viet Nam News: “Land prices have increased over the last decade, especially in recent years. Now, many investors have begun to sell at the same time.”

Stricter measures from the Government to prevent land fever in to-be-established three special economic zones have also affected real estate investors, he said.

Trung said that land prices in HCM City were expected to stay the same over the next three months or so, and that prices would remain unpredictable until the last quarter of the year.

Source: VIR

Man arrested for raping 10-year-old daughter

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A man in Long An Province has been arrested for allegedly sexually abusing his 10-year-old daughter.

Police in the southern province’s Can Giuoc District said on June 7 that they have detained the 47-year-old man to investigate accusations from his daughter.

The man, Hoang, had admitted on June 6 that he had raped his daughter at their house multiple times when there were only two of them home, police said.

The family’s house where the girl was raped by her father

The police said that the daughter had been taken to medical check-up which showed that there were cuts in her vaginal area.

According to a report from police, they got the information on June 6 from a clip in which the girl told her story of being raped by her father many times to a neighbour. The neighbour recorded her story and then decided to post the clip on some social websites.

In the clip, the girl cried when saying that she was forced by her father to have sex with him many times but she did not dare to tell her mother or grandmother because the father threatened that he would kill the whole family if she told them.

The girl’s mother and grandmother who live in the same house seemed shocked when hearing about the story, the police report said. They said they had never noticed any strange or suspicious acts from the father to their daughter.

The grandmother says she is shocked when hearing about what her son did to her granddaughter

The girl then told the police that her father had raped her multiple times for half a year.

According to local authorities, Hoang’s family is poor and his 10-year-old girl doesn’t go to school.

Hoang’s wife said that he was an alcoholic and she left him and took their daughter to live in Can Tho Province since she was small. They have just returned to live together since the beginning of this year.

Meanwhile, police said that they are also working with the families of two other girls in the area, aged 8 and 13, who also accused Hoang of sexually abusing them.

Source: Dtinews

Big difficulties discourage agriculture startups

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Loss, inability to access bank loans, unreasonable policies and investors’ indifference all are putting pressure on the CEO of agriculture startups.

“Just before and after Tet holiday, just within three months, we had to receive about 10 delegations of inspectors from state management agencies,” said Nguyen Khanh Trinh, CEO of a clean food supply chain in Hanoi.

Trinh said the word ‘inspection’ occurred in the last 10 months since the day he took office as CEO.

Trinh isn’t a strange name in the startup community. He is also founder and CEO of an online ad firm established in 2004.

Loss, inability to access bank loans, unreasonable policies and investors’ indifference all are putting pressure on the CEO of agriculture startups.

In 2016, he decided to invest in agriculture with the project on Trung Thuc Farm which fertilizes plants and feed animals with worms.

He wants his farm to change traditional cultivation habits and allow Vietnamese to use clean food.

To date, Trinh has opened 20 shops in seven districts in Hanoi and runs a 10 hectare farm in Soc Son, which are considered the initial success of the project.

However, Trinh said he will still have to go a long distance to bring his products to consumers, because of many barriers.

“Too many kinds of licenses are required in one clean food shop, while policies change all the time,” he said.

“We have the food hygiene certificate granted by the National Agro-Forestry-Fisheries Quality Assurance Department (Nafiqad). However, when officials from the Market Management Taskforce inspect our shop, they require a certificate on meeting requirements on food safety granted by local industry and trade departments,” he said.

Tran Thi Huong decided to leave a foreign invested enterprise where she worked as an accountant, to start up her business Chum Ngay Viet.

Huong leased land to grow horseradish tree (Moringa oleifera) to sell to vegetable shops, supermarkets and online shops. Later, she shifted to trade herbal products.

To make dry horseradish products, she needed to have a drying machine which is worth billions of dong.

“I heard that banks have the programs on funding agriculture projects, but I did not dare to ask for loans because of the complicated procedures,” she complained.

Only when meeting  engineers from the Hanoi University of Science & Technology could she have a made-in-Vietnam cold dryer system with the price just equal to 1/3 of imports.

However, another problem has arisen. “While Japanese come to Vietnam to buy products, Vietnamese only want foreign made products,” she complained.

Nguyen Hai An, director of the HCMC Hi-tech Agriculture Business Incubating Center, confirmed that agriculture projects meet many difficulties. There have been about 50 startup projects in the field, but only half could succeed and their products could be commercialized.

Source: Vietnamnet

CNN’s Anthony Bourdain dead at 61

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New York (CNN)Anthony Bourdain, a gifted storyteller and writer who took CNN viewers around the world, has died. He was 61.

CNN confirmed Bourdain’s death on Friday and said the cause of death was suicide.

“It is with extraordinary sadness we can confirm the death of our friend and colleague, Anthony Bourdain,” the network said in a statement Friday morning. “His love of great adventure, new friends, fine food and drink and the remarkable stories of the world made him a unique storyteller. His talents never ceased to amaze us and we will miss him very much. Our thoughts and prayers are with his daughter and family at this incredibly difficult time.”

Bourdain was in France working on an upcoming episode of his award-winning CNN series “Parts Unknown.” His close friend Eric Ripert, the French chef, found Bourdain unresponsive in his hotel room Friday morning.

“Tony was an exceptional talent,” CNN President Jeff Zucker said in an email to employees. “Tony will be greatly missed not only for his work but also for the passion with which he did it.”

Anthony Bourdain in Port of Spain, Trinidad on January 4, 2017.

Bourdain was a master of his crafts — first in the kitchen and then in the media. Through his TV shows and books, he explored the human condition and helped audiences think differently about food, travel and themselves. He advocated for marginalized populations and campaigned for safer working conditions for restaurant staffs.

Along the way, he received practically every award the industry has to offer.

In 2013, Peabody Award judges honored Bourdain and “Parts Unknown” for “expanding our palates and horizons in equal measure.”

“He’s irreverent, honest, curious, never condescending, never obsequious,” the judges said. “People open up to him and, in doing so, often reveal more about their hometowns or homelands than a traditional reporter could hope to document.”

The Smithsonian once called him “the original rock star” of the culinary world, “the Elvis of bad boy chefs.”

In 1999 he wrote a New Yorker article, “Don’t Eat Before Reading This,” that became a best-selling book in 2000, “Kitchen Confidential: Adventures in the Culinary Underbelly.”

The book set him on a path to international stardom.

First he hosted “A Cook’s Tour” on the Food Network, then moved to “Anthony Bourdain: No Reservations” on the Travel Channel. “No Reservations” was a breakout hit, earning two Emmy Awards and more than a dozen nominations.

In 2013 both Bourdain and CNN took a risk by bringing him to the news network still best known for breaking news and headlines. Bourdain quickly became one of the principal faces of the network and one of the linchpins of the prime time schedule.

Season 11 of “Parts Unknown” premiered on CNN last month.

While accepting the Peabody award in 2013, Bourdain described how he approached his work.

“We ask very simple questions: What makes you happy? What do you eat? What do you like to cook? And everywhere in the world we go and ask these very simple questions,” he said, “we tend to get some really astonishing answers.”

Bourdain’s death happened after fashion designer Kate Spade hanged herself in an apparent suicide at her Manhattan apartment on Tuesday.

Suicide is a growing problem in the United States. The US Centers for Disease Control and Prevention published a survey Thursday showing suicide rates increased by 25% across the United States over nearly two decades ending in 2016. Twenty-five states experienced a rise in suicides by more than 30%, the government report finds.

By Brian Stelter

Airbnb says forced to cancel bookings under new Japan law

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A man walks past a logo of Airbnb after a news conference in Tokyo, Japan, November 26, 2015.

TOKYO: Rental site Airbnb said Thursday (Jun 7) it had been forced by Japanese authorities to cancel thousands of reservations ahead of a new law regulating short-term rentals, apologising for the “extraordinary disruption”.

“This stinks – and that’s an understatement,” Airbnb said in a statement, adding it would fully refund cancelled reservations and was also creating a US$10 million fund to compensate affected travellers.

The popular holiday rental site had already suspended the listings of owners who had not obtained a registration number required under the law that comes into force on Jun 15.

But on Thursday it said Japan’s government had required it to cancel all reservations with hosts that have not yet registered, even if they were in the process of seeking a licence.

“This is understandably frustrating, especially since many hosts are close to acquiring their licence,” the statement said.

“It’s particularly disruptive for guests who have a trip to Japan planned for the weeks and months ahead.”

The company said the fund would help travellers who incur extra costs as they rebook accommodation at short notice.

The initial cancellations affect bookings between Jun 15 and Jun 19 but could be expanded.

“Going forward, unless the government reverses its position, we will automatically cancel and fully refund any reservations at listings in Japan that have not been licensed within 10 days of guest arrival,” it added.

The number of Japan rentals on Airbnb had already dropped dramatically after the site over the weekend began suspending listings from hosts who have not yet registered with the government.

The new law requires owners to obtain a government registration number and meet various regulations that some critics say are overly strict.

Hosts can only rent their properties for 180 days a year, and face additional restrictions imposed by local authorities.

In the tourist magnet of Kyoto, for example, rentals in residential areas will only be allowed between mid-January and mid-March, the low season for tourists.

Airbnb and other holiday rental companies have publicly welcomed the law, saying it removes the uncertainty that has long existed in the sector.

And Japanese authorities say the legislation will protect tourists and local residents alike, and is intended to “nurture healthy growth”.

But some Airbnb hosts say the registration process is overly restrictive and intended to benefit the hotel industry.

Rental sites like Airbnb have faced criticism in many markets internationally for driving up housing prices and competing unfairly with the regulated hotel industry.

The controversy over short-term rentals in Japan comes as the country works to boost already-record numbers of tourists and is anticipating an influx of visitors for next year’s Rugby World Cup and the 2020 Olympics.

Source: AFP/Channelnewasia

Vincom Retail holds its first post-listing AGSM

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Vincom Retail Joint Stock Corporation (Vincom Retail), a member of Vingroup just held its first annual general shareholders’ meeting (AGSM) on Thursday after listing on the HCMC Stock Exchange.

According to VNS report, in 2017, Vincom Retail recorded a total revenue of VND5.5 trillion (US$244.4 million). Most of the figure was from leasing retail slots, which contributed VND4.45 trillion to the total revenue, an increase of 17 per cent from 2016.

Last year, the company launched 15 new commercial centres, raising the total number of such centres across the country to 46, and improved the performance of the ones that had been opened in 2016.

Vincom Retail has an area of 1.2 million sq.m. for retail lease—the highest in Việt Nam—and attracted 115 million visitors to its shopping centres in 2017, a yearly increase of 42 per cent.

The company earned VND2 trillion in post-tax profit in 2017.

It debuted 1.9 billion shares on the stock market on November 6, 2017, which has been a key motivation for the company to achieve its business targets.

The listing of Vincom Retail on HCMC Stock Exchange was the highlight of the Vietnamese stock market in 2017. Vincom Retail became one of the 10 largest companies by market capitalisation.

The deal was recognized by the international media as the most successful share sale in the Asia-Pacific region in 2017.

In 2018, Vincom Retail targets to lead the retail sector in Việt Nam and continue to maintain its status as the first retailer of the country.

The company will increase the number of shopping centres in all cities, provinces and districts by opening 20-30 new shopping centres this year as well as improve the quality of employees, infrastructure and corporate governance to achieve the best performance.

Vincom Retail targets VND8 trillion in total revenue for 2018 and VND2.5 trillion in post-tax profit. The figures mark an increase of 45 per cent and 25 per cent, respectively, from last year.

In the first quarter of this year, the company posted VND1.6 trillion in revenue, a yearly increase of 16 per cent, and VND702 billion in pre-tax profit, down by 8 per cent year-on-year, as the company had sold its entire stakes in associate businesses in 2017.

US$325 mllion corporate bonds

High-end resort and hotel operator Vinpearl JSC plans to raise $325 million from bond issuance, guaranteed by its parent company Vingroup.

The trust deed will be signed between Vinpearl, Vingroup and Bank of New York, London Branch.

The paying and exchange agency agreement will be signed between Vinpearl, Vingroup, Bank of New York, London Branch, and New York Mellon SA/NV, Luxembourg Branch.

The subscription agreement will be finalised between Vinpearl, Vingroup, Credit Suisse (Singapore) Limited and Deutsche Bank AG, Hong Kong Branch.

The bondholders will be able to convert Vinpearl’s bonds into the amount of Vingroup shares owned by Vinpearl, Vingroup said on Tuesday.

According to Vingroup’s annual report of 2017, Vinpearl holds more than 90 million Vingroup shares, accounting for 3.14 per cent of the giant property developer’s charter capital.

Vingroup is currently listing more than 2.63 billion shares on HCM Stock Exchange with the code VIC, having rallied 13.3 per cent in the last seven trading sessions to VND124,700 per share on Thursday.

Vietnam police arrested Chinese criminals, who wanted by Interpol

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Police in the central province of Khanh Hoa said Thursday they had handed over to their Chinese counterparts two dangerous Chinese criminals wanted by Interpol since 2007.

According to Interpol, Xie Jing Ping, 39, and Xie Ying Po, 42, have been charged with a series of violations involved in gangland killings, illegal gambling rings, wildlife smuggling, election destruction, and property damage. VNExpress reported

Xie Jing Ping (L), 39, and Xie Ying Po, 42, were arrested in Nha Trang City on Sunday. Photo courtesy of Khanh Hoa police

The Chinese brothers had been on the run for a long time and illegally entered Vietnam in April via the Cambodian border.

They were arrested from a luxury apartment on Tran Phu Street in the coastal beach city of Nha Trang on Sunday.

Khanh Hoa Province, home to Nha Trang, has received more than 700,000 Chinese tourist arrivals so far this year.

However, the central province has become a notorious magnet for Chinese fugitives on the run.

Last November, the provincial police seized two Chinese criminals wanted by Chinese police for swindling.

Five months earlier, two Chinese nationals turned themselves in at the Khanh Hoa police station after Chinese police issued an international arrest warrant for them.

The number of Chinese tourists visiting Vietnam skyrocketed 37 percent to 2.15 million in the first five months this year, official data show.

By An Phuoc

Understanding Cyberbullying

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The Internet has made the world a smaller place in a good way. We are now able to connect with friends and family who live far away with just an Internet connection. Social media has made keeping in touch with old classmates more accessible, and it even enables us to create new relationships with people who have the same interests. The Internet has made connecting with people around the world more straightforward, and the field of communication has reached great heights, enabling development across many industries possible. From these advantages that came with the advent of social media, some problems came along with it.

Cyberbullying is a form of bullying that occurs using electronic means, sometimes referred to as online bullying. According to a study by researchers at The Journal of Child Psychology and Psychiatry, it has become one of the most common types of bullying amongst teenagers. Cyberbullying can happen over cellular phones, computers, and tablets and come in many forms like text messages, comments or posts on social media accounts, online message boards, and forums. This type of bullying is usually open for the public to see and can be witnessed by millions of people who have access to the Internet.

The most common types of cyberbullying are negative, false, embarrassing, or mean content that bullies post online to cause their victims emotional or mental harm. Just like traditional bullying, cyberbullying can cause long-term harmful effects on the victim. The victim’s self-esteem and confidence could be adversely affected, and constant online harassment can cause depression. Statistics show that there’s a connection between cyberbullying and physical harm. 5% of young people who suffer from cyberbullying has reported self-harm, and 3% have reported suicide attempts as a direct result of cyberbullying.

Why is cyberbullying so prevalent? Technology has made the Internet accessible to almost everyone and as each year pass by, the users of devices that connect to the Internet become younger. Another reason is that it’s easy to create an anonymous account on the Internet and bullies feel like they have the power to humiliate and hurt their victims without consequences. However, some cyberbullying can be considered as a crime.

Because of the recent rise in cases of cyberbullying, legislators in some states have started creating laws to stop online bullying or harassment. However, the implementation of these laws often falls into the hands of school officials, which could be a problem since cyberbullying is usually hard to notice. Since the harassment is taking place in digital platforms, teachers may not be able to see or hear when it occurs unless they start patrolling each of their student’s social media accounts.

In California, bullying in educational facilities is not limited to traditional bullying but also includes the use of electronic means. The law also states that each student has the right to get an education from schools and campuses which are safe, secure, and peaceful. What this means is that if a cyberbully is found to be guilty of using an electronic communication device to threaten another student’s life, they can be punished with up to one year in prison and a fine of up to $1,000 because the act is considered to be a misdemeanor.

Laws against cyberbullying are still improved, and while these are being worked on by legislators, it’s best to keep a closer eye on your children for signs of cyberbullying. Although the methods of harassment are different, the symptoms to watch out for between cyberbullying and traditional bullying is the same.

By Hogan Injury
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