Metaplanet bought around 108.8 BTC at an average price of just under 9.2 million yen per coin
Japanese investment adviser Metaplanet (3350) said it bought another 1 billion yen ($6.7 million) worth of bitcoin (BTC), pushing its holding to 639.5 BTC, worth approximately $40.6 million at current prices.
The Tokyo-listed company purchased around 108.8 BTC at an average price of just under 9.2 million yen per coin, the company disclosed on Monday. It has now spent just shy of 6 billion yen on the largest cryptocurrency by market value, paying an average price of 9.3 million yen apiece.
The company adopted bitcoin as a reserve asset in May as a hedge against volatility of Japan’s native currency. It now has the second-largest bitcoin stash among Asia-listed companies, behind Hong Kong-based technology firm Meitu (1357), which holds around 941 BTC, according to Bitcoin Treasuries. Both companies trail behind Tysons Corner, Virginia-based MicroStrategy, which has more than 252,000 and is the largest publicly traded owner of the token.
Metaplanet recently began selling bitcoin put options, in order to use the premiums to purchase more BTC. The sale of 223 contracts on Oct. 3 earned Metaplanet a premium of 23.972 BTC ($1.44 million). A put option gives the holder the right, but not the obligation, to sell the underlying asset at a predetermined price.
Metaplanet’s shares rose 7.9% to 988 yen and are over 500% higher year-to-date.
The update in the law applies retrospectively from Jan. 1, 2018.
The United Arab Emirates has exempted crypto transactions from paying value-added tax (VAT), bringing the industry into line with several traditional financial services.
The change, which takes effect Nov. 15, applies retrospectively to transactions from as far back as Jan. 1, 2018. The Arabic version of the Federal Tax Authority’s update was made public on Oct. 2, 2024, and the English translation was made public on Oct. 4, 2024.
The exemption makes clear for the first time that the tax doesn’t apply to digital assets. It covers the exchange of and transfer of ownership of those assets, which means all cryptocurrency transfers and conversions will now be exempt from paying the 5% levy.
“The UAE has essentially classified virtual assets in the same bucket as traditional financial services – several of which are already exempt from VAT. This legitimizes VAs,” said Ankita Dhawan, a senior associate at Métis Institute, a dispute resolution think tank.
From the global perspective, Vietnam has appeared as the main country to consider in case businesses will decide to adopt a production tactic different from China’s.
As a result of the increase in costs for production in China, as well as ongoing trade disputes, the companies change their strategy and start to evaluate the strengths of the Vietnamese way.
Among the factors that condition the dynamic of the network of their trade are strong partnerships and the fact that they use both growing logistics and digital trading.
Vietnam’s Ascendance as a Manufacturing Powerhouse
Vietnam’s textile, furniture, and electronics industries have demonstrated remarkable achievements. The country’s efforts to enhance industrial relations within the garment sector have yielded positive results.
Electronics manufacturing has experienced remarkable growth. This is especially true with major global players like Samsung and Intel investing heavily in the country, with Samsung investing more than $17 billion in manufacturing operations in Vietnam, which produces about 60% of smartphones. Additionally, Intel’s $1.5 billion investment in a chip assembly and testing facility in Ho Chi Minh City underscores Vietnam’s growing role in the growing global semiconductor supply chain.
In 2023, Vietnam’s manufacturing expanded at an impressive rate, growing 8.5% year-on-year. Although Vietnam’s production scale is still smaller than China’s, this represents approximately 30% of global manufacturing output. But Vietnam’s rapid growth and strategic location in Southeast Asia is what makes Vietnam a popular destination for international businesses looking to diversify their sourcing.
For businesses looking to move or enhance their manufacturing operations outside of China. Vietnam has many interesting advantages. These benefits include cost-effective labor, favorable trade agreements and a relatively stable political environment
Cost-Effective Labor
Vietnam’s wages are much lower than in China, this makes Vietnam an attractive destination for labor-intensive industries such as textiles, clothing and electronic assembly. Manufacturing wages in Vietnam are approximately $3 per hour, while in China it has increased to around $6.50 per hour. These lower labor costs help companies reduce production costs without affecting product quality and improves the overall cost effectiveness.
Favorable Trade Agreements
Vietnam’s integration into global trade networks has been significantly enhanced by key trade agreements that reduce tariffs and provide better access to international markets. The EU-Vietnam Free Trade Agreement (EVFTA) removes most tariffs on Vietnamese goods entering the EU. Vietnam has made significant strides in its economic development. Participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will further facilitate trade with countries in the Asia-Pacific region. By reducing costs for exporters, these agreements enhance Vietnam’s position as a global manufacturing center.
Political Stability
Vietnam’s relatively stable political environment adds another layer of attractiveness for foreign investors. While China has faced increasing geopolitical tensions, particularly in its trade relations with the United States, Vietnam has maintained a more neutral stance on global issues. This stability provides businesses with greater confidence in their long-term investments and partnerships in the country.
Sourcing Challenges and Considerations
Although there are many benefits, sourcing from Vietnam also faces a number of challenges that businesses should consider carefully. The main challenge lies in the integrity of Vietnam’s supply chain infrastructure which, although developing rapidly , is still not as advanced or integrated as China’s.
Supply Chain Sophistication
China has spent decades building highly complex and interconnected supply chains. Although Vietnam has made rapid progress, still developing the capabilities of the supply chain for industries that require highly specialized production factors and components. For example, although Vietnam is a major producer of electronic components, it often requires importing important components. This causes delays and additional costs. Businesses looking to source from Vietnam need to invest time in finding reliable suppliers to ensure a smooth supply chain and build strong relationships.
Quality Control
While Vietnam continues to increase its manufacturing operations, quality control remains a major concern. Although foreign investment has stimulated improvements in production standards, it is necessary to be diligent to ensure that the product meets its specifications. Strict quality control procedures includes regular factory inspections and quality checks. It is important to address this challenge and businesses must also consider potential variations in product quality. This is especially necessary when working with smaller or less experienced manufacturers.
To successfully overcome the challenges of sourcing from Vietnam, businesses must take a structured and systematic approach. The process begins with thorough market research to understand the local production situation and identify suitable suppliers. Screening and selecting suppliers is important to ensure that partners are competent and have the expertise and the necessary infrastructure to meet production needs.
Once a reliable supplier has been identified, businesses should develop strong contractual agreements that outline quality expectations, delivery schedule and pricing conditions including strict quality control measures with regular inspection to help reduce the risk associated with product defects or inconsistencies.
Vietnam’s infrastructure, particularly in logistics and rural areas, still lags behind that of more developed manufacturing countries. However, companies can overcome these challenges through strategic partnerships and proactive planning. By collaborating with experienced logistics providers and developing contingency plans for potential delays, businesses can ensure a smooth flow of goods.
Vietnam’s rise as a manufacturing hub provides key advantages for businesses looking to diversify their sourcing strategies away from China. With competitive labor costs, favorable trade agreements and a stable political environment, Vietnam is therefore an attractive option for companies looking to reduce production costs while maintaining access to global markets.
Những năm đầu tiên của thị trường bảo hiểm tại Việt Nam tập trung vào việc xây dựng nhận thức cho người dân về khái niệm “bảo hiểm”. Tuy nhiên, thách thức ngày nay đã trở nên phức tạp hơn. Các doanh nghiệp bảo hiểm không chỉ phải tối ưu hóa hiệu suất mà còn phải tiên phong ứng dụng công nghệ, đáp ứng sự thay đổi nhanh chóng của các chính sách ngành. Đây chính là thời điểm các doanh nghiệp cần phải dám đương đầu với những đổi mới để không ngừng phát triển.
Lần đầu tiên, một doanh nghiệp tiên phong trong lĩnh vực bảo hiểm như Prudential Việt Nam hợp tác với Cafebiz – một trang thông tin điện tử về kinh doanh với những góc nhìn đa chiều. Sự kết hợp này hứa hẹn mang đến góc nhìn toàn diện về chiến lược đầu tư vào con người và hành trình hơn 25 năm của Prudential tạo dấu ấn sâu sắc trong lòng khách hàng. Đây không chỉ là câu chuyện về thành công, mà còn là minh chứng cho sự cam kết về phát triển bền vững tại thị trường Việt Nam.
Trong số talkshow mới nhất “Thành công vẫn cần thay đổi” do Prudential Việt Nam và CafeBiz hợp tác, phát sóng vào ngày 1/10, anh Đỗ Quang Tâm cùng chị Phạm Hà Thu – hai vị Giám đốc Văn phòng Tổng đại lý Prudential với hành trình làm bảo hiểm thành công đã có những chia sẻ về “công thức” mà Prudential Việt Nam đã, đang và sẽ triển khai để giải quyết bài toán khó của ngành bảo hiểm.
Chị Phạm Hà Thu, Giám đốc Văn phòng Tổng đại lý Hoàng Mai, Hà Nội với những cảm nhận của một người trẻ mang tư duy đổi mới, dám thay đổi để đạt được mục tiêu. Ngược lại, anh Đỗ Quang Tâm, Giám đốc Văn phòng Tổng đại lý Prudential, Quảng Nam và Quảng Ngãi, mang đến một tinh thần kiên định của một người lãnh đạo dày dặn kinh nghiệm.
Ngành bảo hiểm không dành cho những người ngại đổi mới, mà cho những ai sẵn sàng thay đổi và thích ứng. Đối diện với hàng loạt thách thức, từ sự phát triển của công nghệ đến những thay đổi khó lường trong chính sách, người làm bảo hiểm cần thể hiện một tinh thần tiên phong và linh hoạt. Chính khả năng này sẽ giúp họ không chỉ trụ vững mà còn tạo nên những dấu ấn đột phá trong sự nghiệp và thị trường đầy biến động.
Suốt hơn hai thập kỷ qua, đội ngũ tư vấn viên của Prudential đã kiên trì và không ngừng nỗ lực xây dựng trong tâm trí người dân Việt Nam một nhận thức sâu sắc về bảo hiểm – như một “chiếc ô” tài chính, che chở trước những bất trắc không ngờ của cuộc sống. Dù đối diện với muôn vàn khó khăn và rào cản, họ chưa từng chọn bỏ cuộc, mà luôn kiên định với sứ mệnh bảo vệ và đồng hành cùng khách hàng trên mỗi cột mốc quan trọng.
Khi được hỏi về những thách thức hiện tại, chị Thu chia sẻ: “Nhu cầu của giới trẻ đang ngày càng tăng cao – đây vừa là dấu hiệu tích cực cho sự phát triển của thị trường, nhưng cũng đặt ra những thách thức lớn cho người làm nghề và cả những ai thách thức lớn cho những ai muốn làm chủ sự nghiệp bảo hiểm của mình.”
Đồng tình với quan điểm của chị Thu, anh Tâm bổ sung: “Những thay đổi này chính là động lực mạnh mẽ để chúng ta liên tục học hỏi và trau dồi thêm kiến thức mới. Đó chính là chìa khóa giúp chúng ta bứt phá và tạo lợi thế cạnh tranh vững chắc trên thị trường đầy biến động.”
Đặc thù của sản phẩm bảo hiểm là cam kết dài hạn về sự an tâm cho khách hàng, không thể “sờ” hay “nắm” được, mà quan trọng nằm ở sự hỗ trợ và đồng hành khi rủi ro xảy ra. Tư vấn viên phải là những người có kiến thức chuyên môn vững cùng khả năng thấu hiểu sâu sắc đối với nhu cầu khách hàng. Từ đó, họ có thể đem đến khách hàng những giải pháp tốt nhất, đồng hành cùng khách hàng lâu dài và luôn bên cạnh những lúc khách hàng cần.
Theo anh Tâm, một phần thách thức lớn hiện nay đến từ năng lực ứng dụng hiệu quả công nghệ. Công nghệ đang dần thay đổi cách thức làm việc của tư vấn viên và người quản lý trong ngành bảo hiểm. Hiện nay, các khâu như tư vấn, ký kết hợp đồng, quản lý khách hàng đều được số hóa toàn diện. Đặc biệt, Prudential đã tiên phong trong việc ứng dụng công nghệ hiện đại để cá nhân hóa trải nghiệm khách hàng, từ việc đề xuất sản phẩm đến chăm sóc sau bán hàng. Điều này đòi hỏi người làm bảo hiểm phải nhanh chóng thay đổi để thích nghi với môi trường mới, đồng thời nâng cao hiệu suất và chất lượng dịch vụ.
Trước đó vào quý 4/2023, Prudential đã cho ra mắt mô hình Văn phòng Tổng đại lý mới với chính sách đồng hành toàn diện với các Giám đốc và nâng cao trải nghiệm khách hàng. Chị Thu hào hứng chia sẻ về mô hình mới này: “Việc ra mắt mô hình văn phòng tổng đại lý mới được xem như cam kết đầu tư của Prudential, nhằm mang đến không gian chỉn chu và đa dạng trải nghiệm cho khách hàng, đặc biệt là thế hệ trẻ – những người đang ngày càng quan tâm đến bảo hiểm một cách tích cực hơn.”
Với mục tiêu cung cấp góc nhìn đa chiều về nghề bảo hiểm, truyền cảm hứng về tinh thần làm chủ sự nghiệp và tiếp tục khẳng định cam kết đầu tư của Prudential tại thị trường Việt Nam, chương trình với 3 tập sẽ được lên sóng vào lúc 20h tối thứ Ba hàng tuần từ 01/10/2024 trên Fanpage của Cafebiz và CafeF.
Geopolitical risk and the upcoming U.S. election are likely to reinforce the ‘debasement trade,’ to the benefit of both bitcoin and gold, the report said.
Geopolitical tension and the upcoming U.S. presidential election will likely underpin the ‘debasement trade,’ and this favors both bitcoin (BTC) and gold, JPMorgan (JPM) said in a research report on Wednesday.
“A Trump win in particular, apart from being supportive of bitcoin from a regulatory point of view, would likely reinforce the ‘debasement trade’ both via tariffs (geopolitical tensions) and via an expansionary fiscal policy (‘debt debasement’),” analysts led by Nikolaos Panigirtzoglou wrote.
Markets aren’t pricing in a victory for the former president just yet. The chances of a Trump election win are currently priced in with a low probability looking at other asset classes other than gold and bitcoin, the report said, adding that this is because investors have been preoccupied with the recession trade in recent months.
If the “Trump trade” plays out in a similar way to 2016, there should be higher U.S. Treasury yields, a stronger dollar, U.S. stock market outperformance, in particular banks, and tighter credit spreads, JPMorgan said. This shift has not happened yet, with only a small move higher seen in these markets.
JPMorgan noted that in the six month window around the 2016 American election, 5-year Treasury yields rose 1%, the Dollar Index (DXY) surged 8%, U.S. equities outperformed to the tune of 6%, banks beat the rest of of S&P 500 stock index by 15% and high grade corporate credit spreads tightened significantly.
Bitcoin is not a safe haven against geopolitical risks, investment bank Standard Chartered said in a report yesterday.
Most gains for bitcoin come in the latter part of the month.
Bitcoin’s (BTC) poor start to its historically most bullish month since 2013 continued as the asset briefly slid under $60,000 late Thursday, before recovering, causing over $144 million in bullish crypto bets liquidated.
BTC traded just over $61,300 to remain flat over the past 24 hours despite a volatile U.S. trading session. Ether (ETH), BNB Chain’s BNB and XRP (XRP) showed losses up to 2%, while memecoin dogecoin (DOGE) was up 2% on no immediate catalyst.
The CoinDesk 20 (CD20) index, which measures the largest tokens by market capitalization, was down 1%.
Bitcoin is down over 6% since the start of October, data shows, a month that has only twice ended in the red since 2013 – chalking gains of as high as 60% and an average of 22% to make it the most best for investor returns. That has dented social sentiment on X, with some users being bearish about price recovery.
Polymarket bettors have mixed opinions on where BTC’s price will move in October. While they have ruled out an attempt at $70,000, bettors are more confident that bitcoin will be range bound between $57.5K and $65K.
However, CoinGlass data shows that most gains appear in the latter part of the month, while the first week is generally bearish – meaning current price action still remains in line with historical movements.
The second and third days of October have ended in green just six times since 2013, before recovering in the second week and large movements generally in the third week. Price jumps of as high as 16% generally appear after October 15.
That’s just the data, though. Fundamental and macroeconomic factors ultimately weigh on trading sentiment for risk assets, such as bitcoin – and tensions in the Middle East have shifted investor interest to oil and gold.
Global benchmark Brent oil had its most significant one-day jump in almost a year and is on track for an 8% weekly gain since early 2023.
Looking at macroeconomics for a moment, markets were shook earlier this month by geopolitical tension in the middle east. Bettors on Polymarket are giving a 63% chance that Israel will strike Iranian oil facilities in October, but only a 35% chance that they will hit Iran’s nuclear facilities.
The U.S. presidential election is looking as close as ever on Polymarket, with the two candidates either briefly tying the race or fighting over a 1 percentage point lead.
Donald Trump-themed TREMP, a Solana meme coin named after the Republican candidate, is up 14%, while the original MAGA Trump token is flat, according to CoinGecko data. The Kamala Harris-themed KAMA token is down 7.5%.
Each tour includes 4 to 8 shopping stops in South Korea, with many products lacking clear origin or production date information.
The Seoul city government has conducted undercover inspections following recent allegations of forced shopping on tours from Vietnam and China to South Korea.
Seoul authorities hired foreign countries to pose as tourists on seven low-cost package tours—three sold in China and four sold in Vietnam—to assess the quality of these programs.
Vietnamese tourists are always in the top of the list of visitors to Korea.
Most packages were found to focus heavily on shopping rather than sightseeing, which Seoul’s tourism authorities stated detracted from the visitors’ ability to enjoy the history and culture of the Korean capital.
Each tour included between four and eight visits to local shopping centers, where many of the products sold did not clearly indicate their origin or production date.
Reports suggest that tour guides treat tourists differently depending on how much they spend on shopping, frequently urging them to make purchases.
In one instance, a tour guide prevented tourists from leaving a shopping center for 40 minutes until they bought something.
In contrast to the intense shopping schedules, the sightseeing programs were brief and often canceled.
In one case, the organizer did not provide an alternative activity after a visit to Seoul Forest was canceled due to rain, leaving tourists to spend time at their hotel instead.
Based on recent findings, Seoul has announced it will crack down on forced shopping during tours, seeking cooperation from the Ministry of Culture, Sports, and Tourism and pursuing legal action against low-quality programs if necessary.
Officials emphasized that not all travel packages are of low quality, noting that this special inspection focused on a few low-cost packages, according to The Korea Herald.
Starting from early October, the Ben Thanh – Suoi Tien metro line (Line 1) has officially entered its trial operation phase. On November 18, a safety assessment will be conducted before the line is opened for commercial operations, expected in December 2024.
Metro Line No. 1 Ben Thanh – Suoi Tien is expected to be put into operation by Ho Chi Minh City at the end of this year. Photo: TL
On the afternoon of October 2, the project investor, the Ho Chi Minh City Management Authority for Urban Railways (MAUR), announced that the Ben Thanh – Suoi Tien metro line had officially begun its trial run after a period of theoretical and practical training for employees of the HCMC Urban Railways One Member Limited Liability Company (HURC1), as reported by Vietnam News Agency (VNA).
According to MAUR, the trial operation is expected to last from October 1 to November 17, covering 47 different scenarios. These scenarios include both normal operations and emergency situations such as fire, explosion, power outage, flooding, signal loss, and other incidents at various points along the entire metro line, including both elevated and underground sections.
During the trial run, trains will operate as they would in commercial service, with intervals of 4 minutes and 30 seconds between trains.
From November 18 to November 30, a safety system evaluation team will complete safety assessment reports to be submitted to the Railway Administration for approval in accordance with regulations.
Following this, the State Council for Acceptance of Construction Works under the Ministry of Construction will conduct final inspections to approve the project for commercial operations, which are expected to commence in December 2024.
The Ho Chi Minh City Department of Tourism reported that in the past nine months, the city welcomed over 4 million international visitors and more than 27 million domestic tourists, generating a total revenue of over 140 trillion VND.
Tourists at Thieng Lieng Hamlet, the first typical community tourism spot in Ho Chi Minh City. Photo: Nguyen Phong
specifically, during the first nine months of 2024, the total number of international visitors to Ho Chi Minh City reached around 4 million, a 12.4% increase compared to the same period last year. Meanwhile, domestic tourist numbers were about 27.3 million, marking a 1.3% increase year-on-year.
However, in September, both international and domestic tourist numbers declined. International visitors reached 570,200, a 22.4% decrease compared to the same period in 2023, while domestic tourists were about 3.9 million, down 21.7%.
In terms of revenue, the city’s total tourism income for September was estimated at around 17 trillion VND, a 5.1% decrease year-on-year. For the first nine months of 2024, total tourism revenue exceeded 140 trillion VND, reflecting an 11.9% increase.
The Ho Chi Minh City Department of Tourism highlighted that over the past nine months, the city has diversified its tourism offerings, introduced new destinations, and closely collaborated with businesses to improve service quality, aiming to attract more visitors for sightseeing and exploration.
The city has also hosted various cultural and tourism events, such as the 10th Ho Chi Minh City Ao Dai Festival, the 20th Ho Chi Minh City Tourism Festival with participation from over 150 entities, and the 2nd Ho Chi Minh City Water Festival featuring 10 main programs and activities.
Additionally, the tourism sector has worked with airlines to encourage the use of night flights, developed combined travel packages with flight tickets, and implemented incentive policies to attract MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism groups.
For the full year of 2024, Ho Chi Minh City aims to welcome approximately 6 million international visitors and 38 million domestic tourists, with total tourism revenue projected to reach 190 trillion VND.
From December 9th to 11th, an international conference on rural tourism organized by the United Nations World Tourism Organization (UNWTO) will be held in Quang Nam, according to the Ministry of Culture, Sports, and Tourism.
Aiming to enhance the promotion of Vietnam’s image as a destination on the international stage and boost the development of agricultural tourism, the Ministry of Culture, Sports, and Tourism will host the UNWTO International Conference on Rural Tourism.
A group of foreign teachers and students join a tour in Quang Nam. Photo: Nhan Tam
The conference is expected to attract around 300 domestic and international delegates, including leaders and officials from the United Nations World Tourism Organization, tourism ministries, national tourism agencies from UNWTO member countries, villages in the UNWTO’s Best Tourism Villages Network, international organizations, and tourism experts. experts.
Key activities of the event will include: the UNWTO International Conference on Rural Tourism, the 2nd Annual Meeting of the UNWTO’s Best Tourism Villages Network, and a tourism product inspection and survey program in Quang Nam province. Additionally, a cultural and tourism exhibition space will be organized to showcase Vietnam’s cultural heritage and tourism potential.
The Ho Chi Minh City People’s Committee has just approved the 1/500 scale detailed plan for the Can Gio Coastal Tourism Urban Area, which includes four zones and is expected to welcome nearly 9 million visitors annually.
Perspective of Can Gio coastal urban tourism area. Photo: Can Gio District People’s Committee
The project will be implemented over an area of approximately 2,870 hectares, mainly focused on low-lying coastal land in Long Hoa commune and Can Thanh town, Can Gio district.
The Can Gio Coastal Tourism Urban Area is designed with the goal of developing a modern seaside urban tourism hub, including functional zones such as high-end resorts, entertainment areas, a smart city zone, and a high-tech service area.
The project aims to develop a variety of tourism products to attract about 8.8 million tourists annually. The population of the urban area will be widely distributed among the different zones, with a maximum population of 228,560 people. specifically, Zone A will accommodate about 59,027 people, Zone B around 75,000 people, Zone C about 41,364 people, and Zone D approximately 53,115 people.
The Can Gio Tourism Urban Development Corporation has been assigned the task of completing the detailed planning project, which includes planning phases such as conducting a pre-feasibility study report, developing detailed options, and submitting them for approval.
According to the plan, Zone A will cover an area of about 965.23 hectares, developed as an eco-residential area integrated with tourism services at the gateway to the Can Gio Coastal Tourism Urban Area.
Zone B, spanning approximately 659.87 hectares, will be developed into a modern urban area, combining residential spaces, tourism areas, public works, and green spaces.
Meanwhile, Zone C, covering an area of about 318.32 hectares, is planned as the financial, economic, and commercial service center of the project. Additionally, this zone will develop modern residential areas, including townhouses, villas, and high-rise apartments.
Zone D, with an area of about 480.46 hectares, will serve as the center of economic and service activities. Surrounding Zone D is Zone E, covering approximately 458.12 hectares, which will provide green spaces and technical infrastructure for the entire urban area.
From terraced rice fields to the Love Market, Sa Pa in Vietnam captivates Hong Kong tourists with its natural beauty and unique culture.
Sa Pa is one of the favorite destinations for domestic and foreign tourists because of its wild and majestic beauty. Photo: Blog of Rot.
Vietnam is a popular vacation destination for tourists from Hong Kong (China). It only takes a two-hour flight from Hong Kong International Airport to Hanoi, according to SCMP.
In addition to the capital city, Hong Kong visitors are also very eager to explore the mountainous regions of northern Vietnam, particularly Sa Pa in Lao Cai, located about a five-hour drive from Hanoi.
Situated at an elevation of about 1,600 meters (one mile) above sea level, Sa Pa town is considered difficult to access for most people, except for the local community.
In 1901, French colonists discovered the untouched beauty of Sa Pa. They invested in developing some infrastructure and turned it into an ideal summer resort. By 1905, trains began running between Hanoi and Lao Cai, attracting many tourists.
Terraced fields are a check-in spot not to be missed when coming to Sa Pa. Photo: Erika Na, Phuong Lan Ngo.
Since the opening of the Hanoi-Lao Cai Expressway in 2014, Sa Pa has experienced even more growth. Today, it is a bustling place with plenty of guesthouses, hotels, and high-end businesses serving international tourists.
Despite the commercialization, many villages in Sa Pa, such as Lao Chai and Ta Phin, have retained their unique traditional characteristics.
In these villages, the H’mong people often wear traditional dark-colored clothing with intricate embroidery, and their local language and customs are still preserved. They have a tradition of early marriage and having many children.
Nowadays, the Internet and smartphones have become convenient tools for locals to promote Sa Pa tourism. As a result, many homestays, local tour guides, and unique travel experiences have emerged. Additionally, luxury travelers tend to choose Sa Pa as a destination for relaxation and healing.
Recognizing the potential market, many investors have built luxury hotels in Sa Pa. Among them is Hotel de la Coupole – MGallery, a hotel designed by world-renowned architect Bill Bensley. Opened in 2019, this European-style accommodation attracts many visitors who stop to take photos.
Beyond the terraced rice fields, adventure seekers can opt to visit Fansipan, known as the “Roof of Indochina,” standing at 3,147 meters. Previously, the only way to reach the summit was through a multi-day hike. However, since 2016, a cable car has been in operation, taking visitors to the top in just 20 minutes.
The largest bronze Amitabha Buddha statue in Vietnam, nearly 13 meters high, in Sa Pa. Photo: @hongwei88.
From the cable car, tourists can admire the panoramic view of the lush green terraced rice fields. Upon exiting the cable car, they are greeted by Vietnam’s largest bronze statue of Amitabha Buddha, standing nearly 13 meters tall.
The people of Sa Pa often gather at the town square every Saturday evening to socialize at the so-called Love Market. Through music performances and games, young men and women have the opportunity to get to know each other, with the goal of finding a life partner.
Thao Dien in Thu Duc City, Ho Chi Minh City, has ranked 16th on Time Out’s list of the 38 most wonderful neighborhoods in the world.
Thao Dien is also known as the “Western street” of Ho Chi Minh City because it has many international-style restaurants and shops. Photo: Phuong Lam
Recently, Time Out officially announced its list of the 38 most exciting neighborhoods globally.
The magazine’s global team of editors and writers directly consulted with experts and conducted on-site surveys to identify neighborhoods that met the criteria of being interesting and worth visiting.
The criteria included food, drink, art, culture, street atmosphere, community, and unique local characteristics.
As a result, 38 neighborhoods were selected as the best on the planet. Notably, Thao Dien in Thu Duc City, Ho Chi Minh City, was named for the first time in this ranking, securing the 16th spot.
Thao Dien is located along the Saigon River, about 7-10 kilometers from the city center. Previously part of District 2, it is now part of Thu Duc City.
Time Out describes Thao Dien as a neighborhood with plenty of walkable, tree-lined streets, many restaurants, spas, and fashion boutiques. Thao Dien is highlighted as a hub of creativity, showcasing culinary, cultural, and artistic uniqueness.
In Thao Dien, there is Bakes, a creative French bakery with cakes that look like works of art. Tre Dining, a famous restaurant in the neighborhood recognized by Michelin, features a unique blend of traditional and modern architecture. Tre’s dishes are rich in traditional Vietnamese flavors.
Beyond food and drinks, Thao Dien is also a shopping destination for local fashion brands and handicrafts. Particularly, visitors to the weekend market (open on Saturdays and Sundays) can find affordable clothes, accessories, books, and more.
Thao Dien neighborhood has many walking spaces, tree-lined streets, many restaurants, spas and fashion stores. Photo: Phuong Lam.
Time Out suggests that a perfect day in Thao Dien starts with salted coffee at Hue Cafe Roastery before enjoying a bowl of pho at Pho Bac Hai No. 1 Hanoi. After recharging, visitors can stroll down Xuan Thuy Street, then stop at Amaï to admire Vietnamese ceramics. Next, stop by Maison Marou for a cup of hot cocoa and some delicious chocolate made from Vietnamese cocoa beans.
For lunch, head to Dotori Dining, which serves Japanese-Korean cuisine, followed by a matcha-coconut drink at Cafe 1/4 next door. For shopping, visit OBJoff or Maverik Studio for street fashion. Afterward, relax with a Thai-style massage at Phaya Thai Spa.
End the day with a chic dinner at Madame Lam and enjoy a romantic evening at Xao Xac Bar.
Topping the list of the 38 best neighborhoods in the world is Notre-Dame-du-Mont in Marseille, France. This neighborhood is known for its colorful cul-de-sacs, alleys filled with murals, banana trees, and spiral staircases descending from Cours Julien. Second on the list is Mers Sultan in Casablanca, Morocco.
▸ Asia is represented by seven neighborhoods, including:
Pererenan in Bali, Indonesia (ranked 3rd);
Seongsu-dong in Seoul, South Korea (ranked 4th);
Thao Dien in Thu Duc City, Ho Chi Minh City (ranked 16th);
Ekkamai in Bangkok, Thailand (ranked 27th);
Kowloon in Hong Kong, China (ranked 33rd);
Orchard in Singapore (ranked 37th).
Earlier, in March 2024, Quang An Street in Tay Ho District, Hanoi, was also included by Time Out in the list of the 30 most beautiful streets in the world.
The company strengthens its bitcoin position with a strategic options sale, generating nearly 24 BTC ($1.44M) in premium.
Tokyo-listed bitcoin holder Metaplanet Inc. is now using bitcoin (BTC) options to boost its coin stash, diverging from its peer, the U.S.-listed Microstrategy’s debt-fueled accumulation strategy.
On Tuesday, Metaplanet announced the sale of 223 contracts of bitcoin put options at the $62,000 strike with a maturity date of Dec. 27. The transaction involved Singapore-based QCP Capital as the counterparty and generated a premium of 23.972 BTC ($1.44 million). CoinDesk reached out to QCP Capital for a comment.
Metaplanet posted $13.826 million as margin collateral, with each contract offering a 0.1075 BTC premium, which Metaplanet received upfront. The transaction resulted in a nominal yield of 10.75% and an annualized yield of 45.63%.
The $13.826 million of margin collateral came from the proceeds raised during Metaplanet’s eleventh stock acquisition rights exercise. The purpose of this collateral is to ensure Metaplanet can meet the transaction if the option is exercised.
Strategic selling of puts
Metaplanet will use the premium received by selling put options to purchase more bitcoin. The company’s total bitcoin holdings now stand at 530.717 BTC ($32 million).
A put option gives the buyer the right, but not the obligation, to sell the underlying asset at a preset price on or before a specific date. Metaplanet is a put seller, meaning it is obligated to buy BTC at the strike price of $62,000, even if prices are lower on the day of the expiry.
If bitcoin’s price drops below $62,000 by the maturity date, the buyer will likely exercise this option, forcing Metaplanet to buy 223 bitcoin at the higher strike price. Therefore Metaplanet’s bitcoin holdings would increase by 223 bitcoin, even if the market price by Dec. 27 is lower, however the premium partially offsets the spot price risk.
If bitcoin’s price is higher than $62,000 by Dec.27, the buyer is unlikely to exercise the option since they can sell bitcoin on the open market at a higher price. The option would therefore expire worthless, while Metaplanet keeps the 23.972 BTC premium as profit.
As Vietnam continues its rapid economic growth, more investors are turning to innovative trading methods to diversify their portfolios. One such method is CFD (Contract for Difference) trading, which allows traders to speculate on the price movements of various assets without owning the underlying asset. In recent years, platforms like Meta 5 have gained popularity among Vietnamese traders, offering advanced tools and access to global financial markets. This article explores the rise of CFD trading in Vietnam, how it works, and the opportunities it presents to both novice and experienced traders.
How CFD Trading Works
CFD trading enables investors to profit from the price fluctuations of assets such as stocks, commodities, forex, and indices. Rather than purchasing the actual asset, a trader enters into a contract with a broker, predicting whether the asset’s price will rise or fall. If the trader’s prediction is correct, they profit from the price difference; if incorrect, they incur a loss.
This flexibility allows traders to speculate on both rising and falling markets, making it an attractive option for those looking to profit in any market condition. Platforms like Meta 5 provide traders with a user-friendly interface and a variety of assets to trade, further fueling the growth of CFD trading in Vietnam.
Advantages of CFD Trading
One of the key advantages of CFD trading is leverage. Traders can control large positions with a relatively small investment. This means that even with a modest amount of capital, investors can access a larger market position and amplify their potential profits. However, leverage also increases risk, and traders must be cautious, as losses can be just as significant as gains.
Another advantage is the ability to trade a wide range of assets on a single platform. Whether you are interested in forex, commodities, or cryptocurrencies, CFD trading offers access to multiple markets, allowing for a diversified trading experience.
Risks and Challenges
While CFD trading offers exciting opportunities, it is not without its challenges. The use of leverage can amplify losses, which means traders need to employ risk management strategies to protect their capital. Volatility in global markets can also lead to sudden price changes, which may work against traders if they are not prepared.
In addition, CFD trading in Vietnam is relatively new compared to more traditional investment methods like stock trading or real estate. This means that while the market is growing, regulatory frameworks are still developing. It is crucial for traders to choose reliable and well-regulated platforms, such as Meta 5, to ensure a safe trading environment.
Conclusion
CFD trading presents an exciting opportunity for Vietnamese investors looking to tap into global markets. With platforms like Meta 5 offering advanced tools and access to various assets, traders can speculate on price movements and potentially earn significant profits. However, as with any form of trading, understanding the risks and employing effective strategies is crucial to long-term success. As the industry evolves, CFD trading is likely to play an increasingly important role in Vietnam’s investment landscape.
