Emission fraud plagues famous German car makers

Advertisements

With a billion-dollar fine and the huge number of recalled vehicles, will the emission fraud scandal drag down Mercedes-Benz like it did Volkswagen back in 2015?

Mercedes-Benz faces heavy fine for fraud

German Der Spiegel magazine reported on last Friday that Daimler, the owner of Mercedes-Benz, is facing a fine of EUR3.75 billion ($4.37 billion) for using illegal software to manipulate diesel emissions.

Accordingly, the magazine’s report comes after Andreas Scheuer, German Federal Minister of Transport and Digital Infrastructure, questioned Daimler at a closed-door meeting over how many Mercedes-Benz vans and cars need to be fixed after an inspection found illegal software in one of its models.

Scheuer expressed concerns that 750,000 Mercedes vehicles could be affected and the ministry could impose a fine of up to EUR5,000 ($5,834) per vehicle.

The German car maker last month was also ordered by the German motor vehicle authority (Kraftfahrt-Bundesamt–KBA) to recall its 1.6-litre diesel Vito vans for violating emissions regulations.

According to Consumer Report, C-Class vehicles “enjoyed” the highest rates of recalls in the Mercedes-Benz portfolio in 2013-2017. Specifically, the firm recalled 5.77 of every 100,000 vehicles sold.

Phapluatplus.vn stated that Mercedes-Benz Vietnam (MBV) announced eight rounds of recalls this year. The latest recall was in early May, when MBV announced recalling 7,000 vehicles between May 14 to December 31, 2022 to handle electric system flaws.

Following Volkswagen into ignominy

In 2015, Volkswagen was found to have purposely programmed its turbocharged direct injection (TDI) diesel engines to activate emission controls only during laboratory emissions testing, which lowered the vehicles’ NOx (a generic term for the nitrogen oxides that are most relevant for air pollution, namely nitric oxide (NO) and nitrogen dioxide (NO2)) output to meet US standards during regulatory testing, while during normal driving the cars emitted up to 40 times more NOx.

After the violation saw light, the German automaker had to pay a fine of $18 billion in the US, and spent $8 billion to recall vehicles equipped with violating software.

In the aftermath of the scandal, Volkswagen’s CEO Michael Hornwas forced to resign and the corporation saw significantly reduced revenue and conceded its leading position in the world to Japanese car manufacturer Toyota.

However, emissions violations were uncovered not only at Mercedes-Benz and Volkswagen, but BMW as well. In an announcement on July 22 last year, the European Commission (EC) confirmed to the German Der Spiegel magazine that the institution has been investigating frequent meetings among the car brands’ representatives to agree on technical specifications on grips, engines, and emission systems.

The magazine also stated that there has been an unspoken agreement between the sides since 1990.

At the time, the spokesmen of Volkswagen, Mercedes-Benz, and BMW declined to comment on this.

Source: VIR

 

1.2 million computers in Vietnam infected with W32.XFileUSB

Advertisements

The Bkav Corporation on June 5 warned that up to 1.2 million computers in Vietnam might have been infected with a destructive virus called W32.XFileUSB that can wipe all data on the users’ USB drive.

According to Bkav, the virus can create a fake drive icon or a fake shortcut to attack files on USB drives.

When a computer is infected with this virus, once the user connects to his USB device, the virus will delete the files on the USB and replace them with fake files containing malware.

When the virus-infected USB is inserted into another computer, the virus will continue to spread.

Data loss is a common security breach in Vietnam, said Bkav Vice Chairman Vu Ngoc Son, adding that the virus can not only cause data loss but also take control of the computers to download more malware to spy the computers or launch a targeted attack.

Bkav estimated that computer viruses caused economic losses of up to 12.3 trillion VND, or 541.2 million USD, last year, up 18.27 percent from 10.4 trillion VND (457.6 million USD) in 2016 and more than 41 percent higher than 2015’s figure.-VNA

Source: VNA

MoF targets bitcoin machines

Advertisements

HÀ NỘI — The Ministry of Finance (MoF) has proposed to temporarily halt the import of bitcoin mining machines to improve the management of bitcoin and cryptocurrency transactions.

According to the ministry’s report to the Government on cryptocurrency management, the bitcoin mining machine has not been mentioned in the list of forbidden imported goods, which has made it easy for businesses to import the machine.

However, the ministry said the use of bitcoin mining machines has shown complications in management, with the potential to be used illegally as a currency or in other non-cash payment methods.

Cryptocurrency is considered an illegal non-cash payment method in Việt Nam. The use of virtual money as a means of payment is prohibited and will be handled according to the country’s legal regulations.

MoF cited the example of a case in HCM City to prove shortcomings in virtual money management. An organisation based in the city, Modern Tech, reportedly duped 32,000 individuals in an investment of approximately VNĐ15 trillion (US$666 million) in two fraudulent digital currency projects.

This forced State management agencies to have strict solutions in place on the import of bitcoin mining machines, MoF said.

So far, the country has imported some 15,600 bitcoin mining machines.

These were mainly imported into three major cities — HCM City, Hà Nội and Đà Nẵng. Last year alone, more than 9,300 machines were imported, including 2,300 into Hà Nội, some 7,000 into HCM City and the remaining into Đà Nẵng.

In the first four months of the year, the country imported more than 6,300 bitcoin mining machines, including 4,300 machines into Hà Nội and 2,009 machines into HCM City.

Earlier, Prime Minister Nguyễn Xuân Phúc asked the State Bank of Việt Nam (SVB), financial institutions and other organisations providing payment brokerage services to intensify inspections and promptly report suspicious cryptocurrency transactions.

Phúc issued Directive No 10/CT-TTg on the matter, following repeated warnings from relevant agencies on risks associated with Bitcoin and other cryptocurrencies, along with the threat that cryptocurrencies can be used to finance crimes, such as money laundering, terrorism, tax evasion and fraud.

Meanwhile, cryptocurrency trading and investment are on the rise, posing a threat to the stability of the financial market as well as social order and safety due to the high risks involved. Phúc instructed the Ministry of Public Security to join hands with the SBV and relevant ministries to detect and handle any case of cryptocurrency being used for illegal payment, any activity connected to money laundering and any terrorism-related activity sponsored via cryptocurrency. The MoF has been asked to study the global experience to recommend solutions to counter initial coin offering. In addition to this, the ministry should work to reduce the import of bitcoin mining machines.

The Ministry of Industry and Trade must channel efforts to address illegal activities related to the use of bitcoin to make payment on e-commerce websites or applications. The Ministry of Justice is responsible for completing a legal framework on the management and settlement of cryptocurrency or crypto assets. — VNS

Source: VNS

Vietnam Airlines’ pilots resign citing low salaries

Advertisements

Many pilots working for Vietnam Airlines, the national flag air carrier, said they are always under pressure and don’t receive high salaries, reported Family & Social Affairs Newspaper.

The Ministry of Transport (MOT) and Vietnam Airlines have not made official statements about the reasons. The pilots said they don’t want to work in a bad working environment where there is discriminatory treatment. The pay for Vietnamese pilots is ‘too low compared with those for foreign pilots with the same capability’.

A Ministry of Industry and Trade (MOIT) report showed that the pay for the air carrier’s pilots is relatively high compared with the pay for high-ranking executives of the biggest economic groups in Vietnam.

The pilots said they don’t want to work in a bad working environment where there is discriminatory treatment. The pay for Vietnamese pilots is ‘too low compared with those for foreign pilots with the same capability’.

Gia Dinh & Xa Hoi (Family and Society) newspaper quoted sources as reporting that the leaders of Vietnam Airlines met with pilots on May 30 to discuss the issue.

“They said the best paid pilot can receive nearly VND300 million. There is no such thing. They told lies about our salaries at the meeting with us,” a pilot said.

“They said a captain of Vietnam Airlines can receive VND270 million, but the real figure is VND120 million. Even the pilots with the maximum 100 flying hours never get such a high level,” he added.

Another pilot, who has resigned, said at Vietnam Airlines, a captain receives VND120-130 million a month, while first officer VND60-70 million. First officers can receive up to VND150-160 million from other airlines.

He went on to say that at Vietnam Airlines, the pay is different between Vietnamese and foreign pilots. “The pay for Vietnamese is half of that of foreigners,” he said.

A captain of A321 Team, when he works at full capacity, can receive VND120 million. Meanwhile, other airlines would pay VND250 million for the similar position.

“I want to leave, but they (Vietnam Airlines) told me to pay VND1.9 billion in compensation. I have been flying for Vietnam Airlines for 12 years,” he said, affirming that there is no provision about reimbursement in documents signed between Vietnam Airlines and pilots.

The group of pilots said they will file a lawsuit about two documents released by the Ministry of Transport – Circular No 41 dated August 12, 2015 and Circular 21 dated June 30, 2017, which they believe are contrary to the laws and are hindering from quitting their jobs.

US$1=VND22,000

Source: Vietnamnet

Vietnamese youth: driving force behind ‘bubble tea fever’

Advertisements

More milk tea shops have arisen in HCM City and Hanoi, and analysts say there is even room for more. With over 20 shops near each other, Nguyen Hue pedestrian street in District 1 in HCM City is known informally as the ‘milk tea street’.

Milk tea shops have also appeared on Ngo Duc Ke, Hai Trieu, Huynh Thuc Khang, Ho Tung Mau, Phu Dong crossroads in district 1, Phan Xich Long street in Phu Nhuan district and Su Van Hanh in district 10.

One medium-size glass of milk tea is sold at a relatively pricey VND50,000-60,000. However, milk tea shops are always crowded.
Cars parked on the roads and people lining up to buy milk tea are commonly seen in the milk tea quarters. At lunch break and in the evening, customers may have to wait 15-20 minutes.

According to a manager of Bobapop, a shop in district 1, the shops on central streets have special and attractive designs. The specific taste of milk tea will determine which shops can attract more customers.

“The brands will bring regular customers to shops. In general, customers tend to be loyal to shops which can make glasses of milk tea with original taste,” she said.

However, new brands can also attract the youth. Dream Tea, for example, has become the choice of many young people thanks to honey, matcha, dragon fruit and mango.

The Alley from Taiwan, which appeared recently, has become well known with its special drink with milk and bubbles, and without tea. Some customers say they like the taste of bubbles made of sugarcane served at the shop.

House of Cha, which is famous in Hanoi and Da Nang, has many loyal young customers because of its glasses of milk tea with fruits and matcha thought to be good for health, for VND35,000-50,000. The strong flavor tea, fat cream milk and latte matcha are popular.

Previously, bubble tea was the favorite drink of young people and students. But now, milk tea shops have new groups of customers – middle-aged people and family customers.

All customers’ requirements can be satisfied. They can choose the size of bubble tea glasses, the kinds of bubbles, the percentage of sugar (25-50-75 percent) and the volume of ice. Customers just need to look at the electronic boards and then come to the counter to get their drinks.

By Kim Chi

Source: Viet Nam Net

​Vietnam hasn’t acquired 2018 World Cup broadcasting rights, 8 days before tournament

Advertisements

National broadcaster Vietnam Television (VTV) is still assertive that it will not agree to pay for this year’s FIFA World Cup broadcasting rights unless the price suits its financial capacity.

Although there are only eight days left before the 2018 FIFA World Cup begins, football fans across Vietnam are still uncertain whether or not they will be able to watch the global event on national television.

Vietnam remains the only nation in Southeast Asia that has not reached a deal with Switzerland-based Infront Sports & Media, distributor of the World Cup telecast rights.

Infront previously asked for US$15 million for a full package including all 64 matches of the football (soccer) championship.

The package allows a broadcaster to offer services on all platforms, including television, mobile, radio and the Internet.

VTV stated on May 29 that it would pay $8 million for the broadcasting rights.

However, the distributor has yet to announce any positive response so far.

Nguyen Ha Nam, a senior VTV official, reiterated on Tuesday that the original price Infront had demanded was too high.

“VTV does want to purchase the broadcasting rights to satisfy all football lovers in the country, but it doesn’t mean we will buy them at any cost. We still need to take into consideration our financial capacity,” Nam elaborated.

Meanwhile, a source close to Tuoi Tre (Youth) newspaper at the state television revealed that the negotiation regarding the telecast rights on TV platforms had been completed.

The problem is that VTV is still unable to purchase the rights to air the football matches on its Internet and mobile platforms, which is essential for copyright protection.

“If the copyright is infringed, VTV will be subject to a heavy fine,” the source said.

In its 21st edition this year, the FIFA World Cup will be competed from June 14 to July 15 in Russia.

The prices of the World Cup broadcasting rights for the Vietnamese market have spiked over the last decade, from $2 million in 2006 to $7 million for the last games in 2014 in Brazil.

By Duy Khang

Source: Tuoi Tre News

’Think Before You Share’ online safety campaign launched in Vietnam

Advertisements

Facebook, in collaboration with the Management and Sustainable Development Institute (MSD), officially launched “Think Before You Share,” an online safety programme, in Việt Nam on Tuesday.

MSD is a Vietnamese non-government organisation that acts for the rights of marginalised groups, especially children and youth.

Through a series of workshops, training sessions and online resources, “Think Before You Share” will provide the youth with tools and guidelines on sharing information safely and responsibly on social media.

“Keeping our community safe is core to everything we do, and we want to help youth in Việt Nam make better decisions about what they share online. With ‘Think Before You Share,’ Vietnamese youth will have the tools they need to do just that. We are committed to working with local partners to reach more youth across Việt Nam and build a positive online community,” said Clair Deevy, director of Community Affairs, APAC at Facebook.

Executive Director of MSD, Nguyễn Phương Linh, said that “The Think Before You Share” programme was an important part of her work to support the online safety of young people and ensure they have the right skills to contribute to creating positive online communities.

“The programme has been designed to help students analyse content on social media and use their own critical thinking and empathy to understand how it informs their opinion. We want to empower students as digital citizens to use social media safely, smartly and create a positive social media experience,” Linh added.

Facebook and MSD kick-started the campaign with a two-day summit, which will be attended by more than 100 Vietnamese NGO participants from 15 provinces and cities nationwide. The summit will provide NGOs with tools and practical skills to enhance their efforts in building a secure and useful network environment, create a positive online presence and promote responsible digital citizenship. Through design thinking, critical thinking and empathy, NGOs will create social campaigns that promote better and safer online communities.

Besides workshops and training sessions, the initiative will also make online resources and videos available, covering digital literacy, online safety, critical thinking and empathy. As part of this programme, these resources will continue to be shared by Facebook and its partners in more than 100 schools across Việt Nam.

The programme, which will visit 15 cities and provinces across Việt Nam, seeks to train approximately 30,000 youth aged between 13 and 18 years old, as well as 1,500 teachers, 100 NGOs, and more than 40 youth trainers. In addition, the initiative aims to reach more than 250,000 youth in Việt Nam online.

Source: VNS

Vietnam opportunity ‘exciting’ for F1

Advertisements

Formula 1’s ongoing discussions for a race in Vietnam present an exciting opportunity for the sport, according to the sport’s CEO Chase Carey.

Liberty Media has been keen to add races in what it describes as “destination cities” to the calendar, with plans for a grand prix in Miami moving ahead in recent months. Another potential new venue is Vietnam, with a Red Bull demonstration recently held in Ho Chi Minh City (pictured below), and Carey says talks are ongoing to secure a race there in the near future.

“We have made Asia a priority for us,” Carey said at the FIA Sport Conference in Manila. “We have other priorities but Asia is … incredibly important and we’re excited about the opportunities.

“Vietnam is a very exciting country. It’s a country that has caught the world’s imagination and in many ways that’s where we want to be, in places that not only provide great racing but also great platforms and really be a destination that everybody wants to go to. So I think we’re excited about the opportunity to grow in Asia and we’re excited about the opportunities that we’re discussing in Vietnam, certainly.”

And Carey says new venues have to prioritize delivering tracks that produce exciting racing, following a grand prix in Monaco that many drivers dubbed as boring.

“First, we want to make sure it’s great for a race. While we’ll build all the things all around it, it starts with having a track that can provide a great race.

“Today, realistically, there are tracks that probably we need to work on that are not conducive to providing the most exciting, best racing. There are some that fabulous. So to start we want a track that is going to deliver a fabulous, exciting race.

“I think second, we want a site that is going to capture the world’s imagination. We’re in the great cities around the world — we want to use the phrase ‘destination cities.’

“We’re in places where you want people when they look at it on the TV are excited about it and think it looks spectacular. Really capture people’s imagination, and if they go to it it’s even more special. So we want those magical cities, magical countries that really intrigue and fascinate the world.”

By Chris Medland

Source: Racer

Cybersecurity: Securing Personal Information

Advertisements

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

Concerns as Vietnam ponders new cybersecurity law

Advertisements

VIETNAM, a country with about 93 million people of whom, 50 million are on Facebook and 64 million access the internet at least once every month, is looking to implement a new cybersecurity law – Asian Correspondent Reported.

At the National Assembly, the bill will be debated – and is likely to be passed. If so, it will come into effect on June 15.

“Authorities believe that a new, more focused law is needed to deal with public security concerns, including the fact that, based on studies and statistics, Vietnam is one of the susceptible countries in the world to cyber-attacks,” Tu Ngoc Trinh and Waewpen Piemwichai, Associates at Tilleke & Gibbins wrote in a blog post recently.

However, lawmakers and analysts feel that some provisions of the draft law are redundant or inconsistent with the existing Law on Network Information Safety and the Information Technology Law.

Some of the provisions, for example, give greater control to the government over international digital giants like Google and Facebook.

Earlier drafts of the bill required providers of telecom and internet services, such as the companies mentioned above, to maintain their servers in Vietnam. Fortunately, in later drafts, this requirement was dropped, but the law stipulates that foreign service providers must maintain a “representative” office or presence in Vietnam, and must store user data in Vietnam only.

This provision has caused concern to US lawmakers, lobbyists, and diplomats as well.

US Trade Representative Jeremy Gerrish “raised US concerns about Vietnam’s proposed cybersecurity law, including the impact of localisation requirements and restrictions on cross-border services for the future development and growth of Vietnam’s economy,” said the US Embassy in Hanoi in a statement.

According to The Vietnam Digital Communication Association (VCDA), the latest draft of the cybersecurity bill can reduce Vietnam’s GDP by 1.7 percent and wipe off 3.1 percent of foreign investment if it comes into effect.

The bill also gives more control to government against local users posting anti-government propaganda and defamatory and slanderous content.

Legislator Nguyen Lan Hieu told VN Express International that it is hard to decide what is right or wrong in reality. “The line is very blurred. Therefore, the law should specify the agency responsible for deciding whether a piece of information violates the nation’s laws.”

In Indonesia, for example, this job has been given to the courts.

The draft law bans humiliating or slanderous content, “propaganda against the state of Vietnam,” and the incitement of riots or disturbance of public order.

If passed, the law will stipulate that social media companies remove offending content from their platform within 24 hours, when a request is made by the Ministry of Information and Communications, and Vietnam’s Ministry of Security.

By Soumik Roy

Vietnam court rejects appeal by airport bomb plotters

Advertisements

HANOI (Reuters) – A court in Vietnam has upheld prison sentences against 15 people it said are guilty of plotting to bomb the country’s largest airport in Ho Chi Minh City last April, state media reported on Tuesday.

Dang Hoang Thien, the leader of the group, was charged with “terrorism against the people’s administration” in December last year and given a 16-year prison sentence. His associates were given 18 months probation to 14 years in prison.

The group “planted fuel bombs in the car park and at the arrival hall at Tan Son Nhat International Airport” in April last year, the Ministry of Public Security said in January.

The Ho Chi Minh City People’s High Court upheld the sentences because Thien and others failed to provide sufficient evidence proving their innocence, the Thanh Nien newspaper reported.

It said the group had received money from the California-based Provisional Government of Vietnam, led by U.S. citizens Lisa Pham and Dao Minh Quan, to purchase weapons, make petrol bombs, carry out terrorism activities and incite riots and protests against the administration.

In January, Vietnam said it had listed the Provisional Government of Vietnam as a terrorist organisation because it established groups inside the country to “execute acts of terrorism and sabotage, and assassinate officials”.

The group is loyal to the now-defunct state of the Republic of Vietnam, which was once backed by the United States and ruled the southern half of the country until the Vietnam War ended in 1975.

A spokesman at the U.S. Embassy in Hanoi said in January that the organisation is not designated as a terrorist group by the U.S. State Department.

By Khanh Vu

Beat the summer heat with millet rice crackers

Advertisements

Crunchy delight: The seller cracks the round rice paper into two pieces and folds the cracker in the middle creating a type of sandwich. — Photos courtesy of blogger Pitbull Son

It’s easy to recognise a vendor selling banh da ke (millet rice cracker).

He or she will have plastic bags of crispy rice paper crackers on the front of their bicycle and pots of green beans, millet and sugar on the back.

People eagerly wait to munch on this snack during summer – the season of millet. For those growing up in Hanoi, the dessert recreates childhood memories as it has been popular in the city for decades.

Each portion consists of a large, round rice paper cracker, spread with millet paste, sprinkled with mung beans and topped with sugar. The seller cracks the rice paper into two pieces and folds it in the middle to create a type of sandwich.

The dish mixes the crispness of the rice cracker, aroma of millet and the sweetness of sugar and mung bean puree.

Step by step: Each portion consists of a large round rice paper cracker spread with the millet paste, sprinkled with mung bean and topped with sugar.

Consuming cool ingredients, such as millet and green beans, helps reduce body heat, according to food blogger Ngo Thu Huong.

“All ingredients to make millet rice cracker are good for health. A little bit of sugar is added to make it more delicious. Depending on the taste of each person, the sellers can add little or more sugar. The millet that is chosen to make the dish must be small and polished seeds. When cooking the millet, it must be stirred evenly so that it does not become a mash or gets too dry and especially does not burn,” she says, adding that it is easy to make the dish at home.

The cooked millet, which is sparkling yellow and slightly fragrant, is poured into a clean brazier. Mung beans are steamed and pressed into blocks.

To prepare the dish, cooked millet is spread over the surface of a crispy rice cracker. A thin layer of green bean powder and sugar are then added on top of the millet.

Variety: Some sellers give customers an option of enjoying the dish with coconut.

The cake catches the eye of many passers-by with its yellowish crust, which appears thick, sticky and crispy. The crispy and crunchy cakes, gently mixed with the sweetness of sugar and beans, creates a unique yet addictive taste.

Apart from the taste, people also enjoy the aroma and sound of cracking rice paper.

I remember when I was young, the dish was priced at VND2,000. Today, 20 years later, it costs VND10,000-15,000. But even after so many years, its flavour has not changed. The best time to enjoy the millet rice cracker is immediately after it has been prepared as the cracker loses its crispiness after a few minutes.

Many street vendors in Hanoi sell millet rice cracker, so it can be found in almost every corner of the city. They not only sell street food, but also reflect the culture and cuisine of the Hanoians.

Scrummy: The dish contains a harmonious taste of the crispness of the rice cracker, the aroma of millet and the sweetness of sugar and mung bean puree.

The millet pancake is not a luxurious food item, and it gives people a sense of relishing a simple dish in a simple way.

Vendors riding bicycles or carrying baskets with ingredients inside attract not only the local people but also foreigners. Millet rice cracker requires cheap ingredients and is easy-to-make. It is one of the favourite street foods of Hanoians.

By Minh Thu, Source: VNS

Foreign investors continue to be net sellers in stock market

Advertisements

Analysts have found similarity between foreign investors’ net sales in Vietnam and global capital flow trends.

The total net sales by foreign investors under the order-matching mode since the beginning of February reached VND10.6 trillion, twice as much as the net purchase of VND5.3 trillion in January as reported by SSI Retail Research.

The capital flow through ETF has not been withdrawn, but analysts don’t think the strong inflow earlier this year will be seen again.

A report shows that foreign investors’ capital which flowed to Vietnam through M&A deals in the first four months of the year was $2.26 billion, increasing by 67 percent yearly. The capital helps stabilize the macroeconomy, but it has little impact on the stock market.

On May 22, the stock market witnessed a sharp decrease of shares with large capitalization value on both the Hanoi (HNX) and HCMC (HOSE) bourses. Even shares belonging to top 10 companies with largest capitalization value could not find buyers.

The capitalization value of HOSE lost VND88 trillion, or $3.85 billion, just after one trading session. Meanwhile, foreign investors sold more than bought by 9 million, worth VND600.47 billion.

On May 23, the stock market closed with green lit electronic boards, but foreign investors once again had high net sales of 4.19 million, worth VND675 billion on HOSE.

A similar thing happened on May 24, but the net sales were lower, 4.32 million shares, worth VND147 billion.

SSI reported that the VN Index which once climbed to a high of 1,180 points on March 28 has lost 20 percent just over the last two months.

According to Nguyen Duc Hung Linh, said foreign investors had continuously sold shares, while Vietnam’s stocks are overvalued.

Foreign investors mostly sold shares with high capitalization value such as VIC, VCB, VJC and MSN, so the sale has had a big impact on the VN Index.

Regarding stock valuation, the PE at the end of March was 21 much higher than the 5-year average level of 14.6 and 2016-2017 average level of 15.4. Vietnamese banks were expensive compared with other banks around the world.

Linh said that there is clear evidence of close relations between big net sales by foreign investors since February and what is happening in the global finance market.

Doanh Nhan Sai Gon also quoted sources as reporting that capital outflow can be seen in many countries, including in Asia such as Malaysia and Indonesia.

This has affected the investment viewpoints of investment funds pouring money into Vietnam.

Source: Viet Nam Net

Sharp to buy Toshiba’s PC business for $36m

Advertisements

Parent Foxconn would help Osaka-based unit re-enter the market

Sharp on Tuesday said it plans to acquire Toshiba’s money-losing personal computer business for an estimated 4 billion yen ($36 million), re-entering a market it withdrew from eight years ago.

The Osaka-based electronics maker hopes to build on the expertise of parent Hon Hai Precision Industry, the Taiwanese contract manufacturer also known as Foxconn.

Toshiba, for its part, wants to shed unprofitable operations as part of its restructuring efforts.

Under a contract the two companies are expected to sign this week, Sharp would purchase a roughly 80% stake in Toshiba Client Solutions, a wholly owned Toshiba subsidiary, by Oct. 1. Toshiba would keep a stake of about 20%.

Known for releasing the world’s first mass-market laptop in 1985, Toshiba grabbed a world-leading market share for a time with its Dynabook line. But in recent years, competitors like China’s Lenovo Group have taken the lead, while smartphones and tablets have eaten into the PC market overall, depressing sales.

Sales for Toshiba’s PC business declined 13% on the year to 167.3 billion yen in fiscal 2017, with its operating loss growing to 9.6 billion yen from the previous year’s 500 million yen. The conglomerate has been pushing ahead with restructuring, and recently sold its cash cow memory chip arm in order to help rebuild its finances.

Sharp pulled out of its PC business, which included the Mebius line, in 2010 as competition intensified and earnings deteriorated. But the company has changed course since moving under the umbrella of Foxconn in 2016. Foxconn has experience with efficiently producing PCs in large volumes for American companies such as Dell, as well as a network for procuring parts at low cost. Sharp believes these factors could help it lift the Toshiba PC business back into the black.

Sharp President Tai Jeng-wu, a cost-cutter sent by Foxconn, has described information technology equipment as the most fertile field for cooperation between the parent and the subsidiary. Developing the market using Toshiba’s brand was judged to be faster and more efficient than trying to revive the Mebius label.

Sharp would also benefit from producing its own computers, since it has strength in small and midsize liquid-crystal displays.

Under Foxconn, Sharp has ramped up efforts to expand its multifunction printer business in the U.S. and Europe, such as by purchasing local distributors. Sharp expects synergies from this business and Toshiba PCs, which are widely used at European and American corporations.

Source: Nikkei Asian Review

Change needed to save the oceans from plastic

Advertisements

While many Vietnamese people do not think that single-use plastic items like cups, straws or bags could harm the planet, the consequences of plastic pollution of the world’s oceans are all too real. However, a global change in mindset is now taking its first steps in Vietnam.

When I heard about how a rare green turtle had died from eating plastic bags, mistaking them for jellyfish – its favourite food – I suddenly became acutely aware of my lifestyle choices.

Looking down at my work desk, I see a bunch of beautiful red roses that will never wither as they are made entirely of plastic, and some empty plastic containers that used to hold individually-wrapped sweets. Reflecting honestly for a moment, I realised these are only small examples of a wider disposable plastic habit that I should be ashamed of, being someone who hopes to contribute to a better environment.

Earlier, I picked up a bubble tea served in a tall plastic cup, sealed with a plastic cover, pierced with a plastic straw, and carried in a plastic bag – all just so I could escape the heat, transporting it the 100 metres to my office in central Hanoi.

Looking more closely at my afternoon treat, I come to understand that, like the chewy tapioca pearls bobbing in my cup, I am only a speck in the mass consumption of plastic in Vietnam, where the creamy, sweet, flavoured tea is a widespread attraction for thirsty drinkers all over the country.

A bubble tea wave
Since the turn of the millennium, the Taiwanese bubble tea phenomenon has altered drinking habits and come to be considered the “king of beverages”, with studies showing there is still room for the ready-to-drink tea to grow further in the market. According to London-based researcher Euromonitor International, the Vietnamese milk tea market is valued at $282 million and has an annual growth rate of around 20 per cent.

Euromonitor data ranks Vietnam the world’s fifth-biggest consumer of bubble tea, with over 1.3 million litres sold in 2017 – more than in Taiwan, the home of bubble tea, and only just behind Indonesia, which boasts a population nearly three times the size.

Due to climbing profits, every four days on average in Vietnam currently see the establishment of a new milk tea shop. Searches on the top food and beverage application Foody show there are more than 5,000 places selling bubble tea in the three biggest cities of Hanoi, Danang, and Ho Chi Minh City. The application also calculates that the remaining 60 cities and provinces have somewhere between dozens and hundreds of bubble tea shops. These are only the sweet spots listed on the app, with the reality being an even greater figure.

According to a local bubble tea shop proprietor at Trich Sai street in Hanoi, the transparency of the plastic cup creates a more beautiful serving, as customers can see its individual layers of fresh fruit or custard pudding added to provide a richer taste.

As an on-the-go drink, the straw is necessary to stir the drink’s components. “Imagine buying an iced takeaway beverage without a straw. With the ice melting, the drink becomes diluted and sediment will settle,” he explains.

At the same time, he told VIR that sellers seal the cups for takeaway customers to prevent spillage, and so a straw is also necessary to pierce through the film.

Raising awareness
Nguyen Thu Hang, who works in a local media company, always uses a straw to keep her lipstick intact and to avoid getting a ‘milk moustache’ when she has her favourite creamy tea.

Like Hang, a mother of two sons, Nguyen Phuong Mai told VIR she felt safer letting her kids use a straw with their milk boxes, as she fears they would get dirty at some point during the transportation process.

While both Hang and Mai do not think the use of small disposable straws can do damage to the environment, an environmental organisation that discourages the use of plastic straws, Strawless Ocean, confirmed that they are indeed destroying marine life.

It is estimated that more than one million sea birds, 100,000 marine mammals, and countless fish are killed by plastic pollution each year. Straws are one of the top 10 contributors to sea pollution. In fact, a turtle was once found with over 1,000 pieces of plastic in its stomach.

Strawless Ocean explained that as most plastic straws are too lightweight to make it through the mechanical recycling sorter, they drop through sorting screens and mix with other materials that are too small to separate, contaminating recycling loads or being disposed as garbage. Unable to biodegrade quickly, they then wind up in the ocean.

What is more, straws create pollution at every stage of their existence, from oil drilling and manufacturing to shipping and distribution. It is estimated that 8 per cent of the world’s oil production is used to manufacture plastics.

Strawless Ocean states that 71 per cent of seabirds and 30 per cent of turtles have been found with plastics in their stomachs. Plastic can remain in the environment for over 2,000 years without degrading.

At the launch of the “End Plastic Pollution” campaign last month, the US Embassy in Vietnam quoted a University of Georgia study from 2015 saying that Vietnam was the fourth-greatest contributor to plastic ocean pollution worldwide.

While there are no official figures on how much plastic material is used in the local food and beverage industry, Nghiem Thanh Tung, who produces plastic cups and straws for bubble tea shops, told VIR that some of their larger client locations are likely to place orders of around 10,000 plastic cups, with about 20 kilogrammes of plastic straws every three months.

Saying no to plastic
At the same time, a number of countries around the world have taken major steps to cut plastic waste. Chile has prohibited the sale of single-use plastic bags in 102 coastal villages and towns. Kenya introduced a law that slaps a fine, or even a gaol sentence, on anyone who manufactures, sells, or even carries a plastic bag. And just last month, Scotland announced plans to ban the manufacture and sale of plastic-stemmed cotton buds.

As the birthplace of bubble tea, Taiwan recently vowed to ban all single-use plastics for an entire switch to reusable or biodegradable items. Under the plan, plastic beverage cups will be restricted and, by 2025, users will have to pay an extra fee to use them. By 2030, plastic takeaway beverage cups will be completely banned.

In Vietnam, while the majority of the growing bubble tea industry has not yet reacted to environmental concerns, a cafe in Ho Chi Minh City recently called on its clients to bring their own cups and plastic bags, and either to bring their own straws or use none at all. Responding to the global “Say No to Straws” movement, the cafe offered customers a small discount of VND5,000 ($0.2) for their efforts. Moreover, several beverage shops have begun using non-plastic straws, made of bamboo, stainless steel, glass, or silicone.

Nguyen Dang Hung, CEO of Bamboo Straw Vietnam, told VIR he is currently selling bamboo straws on the international market, especially in Europe, where the anti-plastic trend is much stronger. There are many countries that have banned the use of plastic straws, which creates a huge opening in the market for Hung and his colleagues.

Hung’s business has grown fivefold since it began three years ago, and he is looking to develop more environmentally friendly products such as trays, glasses, bowls, and shopping bags to serve the growing global demand.

Cost is an issue
Local partnerships for Hung’s business have been hard to come by in Vietnam, as the higher prices of environmentally friendly straws remain a key issue. Currently, a single bamboo straw costs VND9,000 ($0.40), while 500 plastic straws, weighing one kilogramme, cost only VND50,000 ($2.20). This makes a bamboo straw around 90 times more expensive than a plastic one.

However, Hung still managed to team up with the likes of the Chàouen Lounge, Hanoi Taco Bar, and Winston’s bar, all in Hanoi. Outside of the city, he has found clients such as Premier Village resorts, Amanoi resorts, and the InterContinental’s Phu Quoc and Danang sites.

Hung believed that although environmentally friendly habits in Vietnam are not as prevalent as in other countries, small steps are still “such a positive change”, with a rise in public awareness of potentially enormous environmental detriments caused by small objects like straws.

It is entirely possible, however, to have your favourite bubble tea without a plastic straw, Hung said, “Consumers have the choice: Pay now for a non-plastic straw for the betterment of the environment, or get a plastic one for temporary convenience and face the consequences later.”

As for me, I have just finished mixing my Moringa drink in a glass bottle, which used to contain Japanese Choya wine, and am having it without a straw. I am telling myself I need to create a more environmentally friendly lifestyle because I love being by the sea and care about marine life. More importantly, I would like my children and grandchildren to see turtles, fish, and other creatures in the ocean in the future, not just floating plastic.

Source: VIR

Exit mobile version