5G, the cornerstone of the digital revolution

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5G will make it easier to download and upload Ultra HD and 3D video and allow smartphones to run more complex mobile internet apps.

Blazing fast 5G wireless networks promise to unlock the potential of internet connected devices, or the Internet of Things – making driverless cars and talking fridges a reality.

With most European operators targeting 2020 for its rollout, 5G is the term on everyone’s lips at the Mobile World Congress in Barcelona.

How does 5G work?

Like the 4G networks currently widely available, 5G is based on radio frequencies, the same used for television broadcasts, walkie-talkies, wi-fi signals or a garage door remote control.

It will use a higher radio frequency which are not in use and can move data at a much faster speed.

But since higher radio frequencies don’t travel as far as lower frequencies, it will rely on denser arrays of small antennas and artificial intelligence to offer data speeds up to 50 or 100 times faster than current 4G networks.

What can it do?

5G will allow people to send texts, make calls, and browse the web as always – but will dramatically increase the speed at which data is transferred across the network.

This will make it easier to download and upload Ultra HD and 3D video and allow smartphones to run more complex mobile internet apps.

5G will also make room for the thousands of internet-connected devices entering our everyday world.

The combination of speed and quicker response times could unlock the full capabilities of other hot trends in technology, offering a boost to self-driving cars, drones, virtual reality and the wider Internet of Things.

Beyond speed, the biggest benefit of 5G is its low latency, or the short lag time between a device pinging the network and getting a response.

A 5G network virtually eliminates it, meaning a surgeon may not need to be in the same room as a patient in the future for example.

Why is 5G seen as essential?

The tech industry is counting on 5G to trigger a wave of growth in equipment sales and mobile services.

For years telecom operators and device makers have debated common standards, which will make it possible to have a similar network everywhere and develop products that could be targeted to it.

What are the obstacles to its adoption?

The industry is still fighting over the nitty-gritty details of the technology itself and a lack of common standards could slow its adoption.

5G compatible phones are still not on the market and in many countries 4G deployment is not yet complete. In a number of African countries it is only just starting.

Telecoms operators must make a massive investment to deploy 5G.

Deutsche Telekom CEO Timotheus Hoettges has estimated the cost of providing 5G networks in Europe alone at €300 billion to €500 billion ($370 billion to $615 billion).

5G also faces competition from other technologies that may be better suited for the connected devices, such as French firm Sigfox’s non-cellular IoT network or LoRa, a rival non-standardised low power wide area (LPWA) offering backed by France-based Orange amongst others.

Source: AFP

Vietnamese man jailed in Singapore for smuggling rhino horn

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The rhino horn pieces were cut from three horns from at least two black rhinos.

A Vietnamese man was sentenced to 15 months in jail in Singapore on Monday for smuggling rhino horn from Angola, the Strait Times reported.

Nguyen Vinh Hai, 29, was transiting at Changi Airport last August when eight pieces of rhino horn weighing three kilos were found in his luggage, the report said. He was waiting to fly to Laos, which borders Vietnam.

Customs officers, who acted on a tip-off, found the horn wrapped in translucent plastic and aluminum foil.

The pieces were cut from three horns from at least two black rhinos, the indictment said.

Animal conservationists say rhinos are being poached in Africa every day to meet demand, mostly from China and Vietnam. In 2014, a record 1,215 rhinos were poached in South Africa, said the country’s Environmental Ministry.

Authorities in Vietnam seized more than 150kg of rhino horn in eight seizures in the first seven months of last year, the U.K. wildlife trade monitoring network TRAFFIC said in a report.

Vietnam has strict laws that ban the sale and purchase of rhino horn, but they have failed to protect the critically endangered animal. Their horns are considered a status symbol and are used for decorations and in medicine.

The country developed an appetite for rhino horn about a decade ago in the belief it could cure cancer, a myth conservation groups have bristled at.

Vietnam’s last Javan rhino, a rare Southeast Asian species, was found dead in 2010 with its horn hacked off.

Backed by the government, public awareness campaigns have helped discourage the trade, and prices have fallen from their peak of $70,000 per kilogram several years ago.

Source: VnExpress

Bui Tien Dung: The safe pair of hands behind Vietnam’s footballing success story

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‘No one knew or cared about who I was before, but now, wherever I go, people recognize me.’

Vietnam’s national football team set the country on fire at the Asian Football Confederation U23 Championship in January by defying all the odds, and in doing so catapulted goalkeeper Bui Tien Dung to stardom.

Vietnam became the first Southeast Asian team to make it to the quarterfinals, and then shocked everyone by making it to the final.

Despite losing to Uzbekistan in the last minute of extra time in the final, Vietnam’s players and Dung in particular won over pundits and fans for their astonishing perfomances, with many people saying it was the best they had ever seen a Vietnamese team play.

And Dung was one of the main reasons for Vietnam’s progression to the latter stages of the tournament.

Dung stood firm in penalty shootouts in the quarterfinal against Iraq and then the semifinal against Qatar, and he produced some brilliant displays during normal time to get his team that far.

For the 20-year-old and his team, things have changed since they returned from the AFC U23 Cup.

In a recent interview with VnExpress, Dung shared how his life has changed since all that drama.

How has your life changed since the U23 Asian Cup?

No one knew or cared about who I was before, but now, wherever I go, people recognize me. Sometimes people even follow me to have a chat when I go out for breakfast. I’m happy but it feels a bit awkward. That sudden change has surprised me, but I always tell myself to keep my feet on the ground and stay focused, because after all, this is just the beginning. I’m still a young player, not a star or a monument; what I have achieved so far is still very little.

What have you done to try and keep your life in balance?

I write in a diary to keep a clear head. I write every day and always end with the sentence: “Don’t be self-satisfied.” I know there is still a long road ahead and many targets to achieve. At the U23 Asian Cup, I could have done better in some situations but I failed because I wasn’t able to communicate with my team or made the wrong decisions. I know my weaknesses and if I want a bright future I need to train hard to fix them.

You’ve been hailed as a hero, but back at Thanh Hoa Club you’re still third choice behind two senior goalkeepers. How do you feel about that?

Competition for a position on the field is normal in football. Coach Mihail Marian Cucchiaroni has had a successful career, and that explains why his decisions are professional and fair. The skills we show will decide if we play or not; not our ages or achievements. We all have a chance, and that’s why we all need to try our best.

What are your goals for 2018?

To try my hardest in training and improve so I can play as many games for my club as possible. As for the national team, Vietnam will play at the Asian Games (Asiad) and ASEAN Football Championship this year, so I really want to be part of the national team and get Vietnamese football fans excited again.

Source: VnExpress

Restaurant in Da Nang overcharges diner with Chinese-language bill

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A restaurant in Da Nang City has received complaints from a Vietnamese customer after it presented to the diner a bill written in Chinese in which the required payment far exceeded the correct cost.

A patron eating at the HD restaurant, located on Vo Nguyen Giap Street in Son Tra District, published her displeasure at its service on a Facebook page which has a membership of more than 58,000 on Friday.

The diner felt dissatisfied since the restaurant gave a Chinese-language bill showing the total cost of VND10 million (US$400), which was in actuality merely VND8 million ($320) upon recalculation.

The restaurant agreed to charge the latter amount only after the customer’s angry reaction.

Local authorities worked with the place’s manager on February 23, said Nguyen Thanh Nam, deputy chairman of the People’s Committee in Son Tra District on Saturday morning.

The restaurant admitted to issuing the foreign-language bill related to the case.

The official said the restaurateur will be asked to solve the problem early next week.

Printing a bill in Chinese for a Vietnamese customer is a sign of insufficient transparency and runs afoul of relevant regulations, according to Nguyen Nho Hau, vice director of the Da Nang market management department.

Source: Tuoi Tre News

​Dishonest GrabBike drivers prey on passengers at Ho Chi Minh City bus station

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A probe by Tuoi Tre (Youth) newspaper has disclosed the operation of a group of unscrupulous GrabBike drivers at a major bus station in Ho Chi Minh City.

The paper’s correspondents came to the Mien Dong (Eastern) Bus Station in Binh Thanh District on the early mornings of February 20 and 21 to investigate the situation.

Despite a large number of drivers in GrabBike uniform at three gates of the venue, passengers still encountered immense difficulty as they tried to book a ride.

At around 3:00 am on February 20, a reporter booked a journey from the bus station to Tuoi Tre headquarters in Phu Nhuan District.

While the regular fare is only VND20,000 (US$0.88), the price at that time was VND65,000 ($2.86) due to “high demand.”

Upon the journalist agreeing to the cost, no driver was found.

The journalist had to retry the process for a dozen times before eventually finding himself a driver.

As the Grab application was showing, the driver was Hoang Dinh Tan, who rode a Yamaha Sirius with license plate number 63P1-04.896.

However, Tan did not contact his passenger, forcing the customer to call him instead.

The driver did not answer the call, repeatedly, before sending a text message saying, “I have picked up another passenger as I was unable to reach you.”

After spotting multiple GrabBike drivers with their signature green jackets, the reporter approached one and sought for help.

The driver, around 30, said he would help book a ride with his phone, before stating that the fare was VND99,000 ($4.35).

He seemed to lose his cool when the reporter asked about the price difference compared to that on his phone, which was only VND65,000.

“You have asked too much. You can either go with me or continue booking a ride until forever,” the driver grumbled.

A similar situation also happened at the bus station the following morning.

Han Phuong, a local resident, was unable to book a ride to her home on Ung Van Khiem Street in Binh Thanh District.

“I have accepted the increased fare of VND50,000 [$2.2], although it only costs VND16,000 [$0.7] on normal days,” Phuong said.

She eventually traveled with a conventional motorbike taxi driver, who also charged VND50,000 for such journey.

Revelation

A source close to Tuoi Tre stated that the GrabBike drivers in front of the Mien Dong Bus Station belonged to a group of about 15 members run by a man named Hoang.

Another group, also led by Hoang and consisting of five people, operates at Tan Son Nhat International Airport.

The two teams have been active for the past four months.

These so-called GrabBike drivers park in front of these facilities but do not turn on the application, preventing passengers from booking a ride via their app.

They forbid other drivers from entering their territory and picking up passengers.

In the end, travelers will have to reach out to these ‘fake’ drivers, who will charge a much higher fare.

“They have earned a lot more than I normally do thanks to such methods. Me and other drivers do not dare to infringe on their territories,” H., a GrabBike driver, said.

Nguyen Trung Thanh, country head for GrabBike and GrabExpress, told Tuoi Tre that rides that are not booked via the Grab app are not considered the firm’s service.

“It is against the rules for a driver to wear our uniform while turning off our application,” Thanh asserted.

Based on the reports of Grab’s quality control units and passengers, certain punishments will be imposed upon violators, he continued.

Source: Tuoi Tre News

Why foreign banks are turning tail and pulling out of Vietnam

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Foreign banks concerned about poor risk management or faced with fierce competition in Vietnam have been withdrawing their investments.

The most recent case was Standard Chartered Bank, which sold its entire 8.75 percent stake in Vietnam’s publicly listed Asia Commercial Bank (ACB) in January after a 12-year partnership.

Standard Chartered had previously withdrawn its representatives from ACB’s board of directors for unspecified reasons.

Late last year, France’s BNP Paribas divested its entire 18.68 percent stake in the local Orient Commercial Bank (OCB), ending a decade-long partnership.

Also in 2017, HSBC sold is majority 20 percent stake in Techcombank, while the Commonwealth Bank of Australia (CBA) offloaded a 20 percent stake in VIB.

Economist Nguyen Tri Hieu said that foreign banks have accelerated their divestments from Vietnam over the past few years after rushing to invest in the country nearly two decades ago. The withdrawal gathered momentum in 2017.

Hieu said many international banks have been unsatisfied with their businesses in Vietnam because of high bad debt ratios and poor risk management at local financial institutions, and the legal system. Meanwhile, other lucrative markets have sought ways to draw their investment.

“The business environment in Vietnam is quite different from in their countries. Foreign banks have found it hard to do business in Vietnam due to overlapping legal regulations and inefficient risk management at local banks,” Hieu said.

Most foreign banks have invested in Vietnam under strategic partnerships or other joint arrangements with local partners.

A low foreign ownership cap is another reason for the capital withdrawals by foreign partners, who have been waiting for the limit to increase for many years now, economists said.

The 30-percent cap covers total foreign shareholdings and limits a single foreign strategic investor to a one-fifth stake in a local bank.

This has proved unattractive for many foreign lenders who see little incentive in a minority share and limited control of banks requiring restructuring and recapitalization.

A limit increase would help retain foreign investors, many economists concluded.

Normal moves

Some other experts and industry insiders said the foreign capital withdrawal is individual and normal moves. It is not a trend. Foreign banks could leave a market for a new one when having new business strategies.

For example, Australian lender ANZ sold its retail business in Vietnam to South Korea’s Shinhan in 2017.

Farhan Faruqui, ANZ’s international group executive, said in a statement that the sale will allow the bank to focus its resources on institutional banking, its “largest business in Asia.”

“We will be maintaining our presence through our institutional bank in Vietnam which will continue to support our corporate clients in the Greater Mekong Region,” he said.

Nguyen Dinh Tung, CEO of the Orient Commercial Bank (OCB) told local media: “Banks leave markets where their business is ineffective or competition is too fierce. This happens not only in Vietnam, but in many other countries.”

Vietnam now has seven wholly-owned foreign banks, as well as 50 branches and more than 50 representative offices of foreign banks and joint-venture banks. Their total assets have topped $35.8 billion.

Source: Ngan Anh

Australia-VN investment to continue growing

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GBS – The first milestone in the relationship between Australia and Việt Nam came with the actual establishment of diplomatic relations by Prime Minister Gough Whitlam’s Labour government on February 26, 1973, in the context of a greater Australian role in the region.

Education was regarded as vital to Việt Nam becoming incorporated into the region and the world. The “Việt Nam Project”, teaching English language to teachers and government officials, operated on Australian funds channeled through the UN Development Programme, and was a milestone that emanated from the conviction within the Australian Department of Foreign Affairs that to relate to the western world, Việt Nam needed to communicate in its language.

From the small, low-key projects there are now some 22,000 Vietnamese students in Australia, mostly full fee paying, with another 7,500 studying for an Australian qualification in Việt Nam. The Australian Government gives great scholarships for Vietnamese students every year. There are now 50,000 alumni, who the Australian ambassador suggests provide “a ready bridge for Australian business.”

An innovative arrangement between the Australian National University (ANU) and Hà Nội’s Institute of Information Technology (IOIT) resulted in Australia introducing the internet to Việt Nam, enabling even more involvement in regional and global affairs. There was some modest government funding, but it was the dedication of two key figures, Rob Hurle at ANU and Trần Bá Thái at IOIT, that made this possible. In 2018, it is estimated that over 55 million people are using the internet, approximately 60 per cent of the Vietnamese population.

Leaders’ visits

In May 1993, Prime Minister Võ Văn Kiệt was the first head of government from either country to make a visit. A Memorandum of Understanding was signed regarding civil aviation and the aid programme. This visit set the precedent for subsequent leaders’ visits. Such exchanges were highly valued by Việt Nam as it attempted to rejoin the region and the world. If their Prime Minister could meet with the Australian leader, and engage in useful bilateral discussions, it indicated not only that Việt Nam was looking outwards, but also that Australia was embracing Việt Nam.

The following year, in April 1994, Prime Minister Paul Keating visited Việt Nam, the first Australian leader to do so. It coincided with a period of busy diplomatic activity in Việt Nam as the United States embargo was finally lifted only two months before Keating’s visit and Việt Nam was increasingly portrayed as a place of almost unlimited economic opportunity.

The relationship continued despite the change of government in 1996, reflecting the level of maturity that had been achieved. High-level visits are now more regular, serving to emphasise the growing maturity in the relationship between Australia and Việt Nam.

Strategic partnership

In September 2009, Australia and Việt Nam defined the relationship as a Comprehensive Partnership. In representing a “strong mutual commitment” to the relationship, the agreement built a framework to strengthen and deepen co-operation across several key areas: expanding political ties and public policy exchanges; promoting economic growth and trade development; ongoing development assistance and technology co-operation; building defence and security ties; supporting people-to-people links; and advancing the global and regional agenda.

In March 2015, the Australian and Vietnamese Governments, “noting the strategic and economic developments in the region” since signing the first agreement, committed to a “Declaration on Enhancing the Australia-Việt Nam Comprehensive Partnership”. The declaration notes mutual interest in “regional security, stability and economic growth”, with both countries recognising the region’s “significant challenges” to peace, stability and prosperity. Both countries believe in strengthening regional bodies and note the need for a “rules-based multilateral trading system” while creating the “best possible conditions” for bilateral trade and investment to reach its potential. The declaration is intended to “build on previous successes” and to “deepen and expand the strong relations between Australia and Việt Nam.”

In the Declaration “Enhancing the Australia-Việt Nam Comprehensive Partnership”, both “Australia and Việt Nam value the contribution of the Vietnamese community in Australia (about 300,000 people) and the Australian community in Việt Nam to the social and economic development of both countries, and in promoting friendship and co-operation”. As the Australia-Việt Nam Relationship developed, more Vietnamese-Australians began visiting their homeland, and attitudes changed gradually.

The period under the Hawke/Keating Labour governments was a critical period for establishing and substantially developing the relationship. Government-to-government activities were crucial, but much was achieved at the people-to-people level. The channeling of indirect aid in the 1980s relied heavily on individuals, both here and in Việt Nam, and early attempts at doing business in Việt Nam depended to a great extent on interested and determined people.

The Australian Government-owned communications company OTC (Overseas Telecommunications Commission), later to become Telstra, was a great example of an Australian company taking early advantage of opportunities in an economically liberalising Việt Nam. Starting with an A$5 million investment, over a decade it became Telstra’s “largest single offshore investment”, with a “committed investment of approximately A$200 million”, evolving into a Business Cooperation Contract, which later became the standard for the telecommunications industry in Việt Nam.

Drawing on the example of OTC and other smaller businesses, Australia was one of the leading foreign investors in the early years, and trade increased exponentially, albeit from a tiny base. Two-way trade with Việt Nam increased from just over A$100 million in 1989/90 to just under A$1 billion in 1997/98, to just over A$10 billion in 2015/16, making Việt Nam Australia’s 15th largest trading partner. Australian investment in Việt Nam was A$355 million in 1990/91 and A$1.5 billion in December 2015. Vietnamese investment in Australia at the same time was A$468 million.

There is every reason to believe that trade and investment will continue to grow. Corruption and bureaucratic obstacles are still problems, but Việt Nam understands that these are problems and will hopefully continue working to minimise these barriers over time. Việt Nam is now considered a middle-income country, with a young population of over 90 million, an ongoing growth rate of 5.5 per cent p.a. and an expectation that by “mid-century, Việt Nam is expected to be on the cusp of joining the world’s top 20 economies”.

Australia’s aid programme continues to help Việt Nam reduce poverty, reach sustainable development, modernise its business practices and improve its infrastructure, especially roads and bridges. Having earlier constructed the Mỹ Thuận Bridge -Australia’s largest infrastructure project then, the Cao Lãnh Bridge will also open in 2018. With Australian funding of A$160 million, it is the “single largest Australian aid activity on mainland Southeast Asia and is being jointly funded by the governments of Australia and Việt Nam, and the Asian Development Bank”. These projects assist Việt Nam, but also benefit Australian companies.

Source: VNS


To be advised about investment in Vietnam, contact GBS at: Hotline | Whatsapp | Viber | iMessage: (+84) 903189033, email: Info@gbs.com.vn or visit the website: https://gbs.com.vn

Stocks set to break its all-time record

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Vietnamese stocks are expected to rise further with the benchmark VN-Index forecast to surpass its all-time peak of 1,170 in 2007 on rising investor confidence in the market outlook, analysts say.

The benchmark VN-Index gained 2.49 per cent to close at 1,102.85 points on Friday, after dropping 1.02 per cent to finish at 1,076.03 points on Thursday.

The southern market index gained 4.07 per cent in three sessions last week.

The HNX Index on the Hà Nội Stock Exchange rose 1.24 per cent to end at 126.24 points, recovering from its one-day decline of 0.92 per cent to end the session at 124.70 points on Thursday.

The two stock indices witnessed a weekly rise of 4.07 per cent and 1.55 per cent, respectively, as money flowed into large-cap stocks, driving up the market.

An average of more than 239.82 million shares were traded in each session, worth VND6.8 trillion (US$298.5 million).

The UPCOM Index on the Unlisted Public Company Market (UPCoM) inched up 0.43 per cent to finish at 59.56 points. It lost 0.15 per cent to finish at 59.28 points in the previous session.

Furthermore, the unlisted market index gained 1.81 per cent after the three trading sessions of the week.

According to Dương Văn Chung, head of MB Securities Co’s northern branch, during the beginning of February, the market fell sharply—the VN-Index was dragged down below 1,000 points.

“I recommended investors to purchase more stocks as after Tết, the market will likely to turn upward and could possibly exceed its peak of 1,130 points set before the Tet holiday, and even surpassing the all-time peak of 1,179 in 2007,” Chung told tinnhanhchungkhoan.vn.

“With the growing momentum during the last week, I expect that the VN-Index’s recent peak of 1,130 points will be broken in the next week, led by the strong cash flow poured into financial-banking stocks,” he added.

Vietcombank shares (VCB) have increased by 23.2 per cent since the beginning of the year. The figures for Bank for Investment and Development of Viet Nam (BID) and Vietinbank (CTG) are 44.3 per cent and 18.1 per cent, respectively.

According to Chung, Việt Nam’s stock market is a small frontier market, which is strongly affected by the fluctuations of the world stock market.

“The market has much potential. I think in 2018, the market will experience highly volatile trading condition as investors will be trading more actively than before instead of buying and holding stocks for a long-term,” Chung said.

In March, the VN-Index may move up to reach 1,182 points to a maximum of 1,225 points, Chung forecast.

Hoàng Thạch Lân, head of individual client analysis at Việt Dragon Securities Company, said the VN-Index is expected to continue to rise next week, due to investors increasing their stock proportion in the pillar stocks, supporting the overall market.

“In theory, the VN-Index will inevitably exceed its all-time peak of 1,170. With the current uptrend, perhaps the Index will surpass that record next week,” Lân said.

“However, in terms of technical analysis, my indicators showed that there are more risks than a few months ago. In the worst-case scenario, the Index would continue to increase more to surpass the peak and then suddenly decline deeply for a long period,” Lân added.

He said the uptrend of Petroleum stocks is backed by oil price rebounded.

Brent crude price closed Friday at $67.31, up 0.6 per cent from last year’s ending figure and up 50.1 per cent from last year’s lowest hit on June 21.

PetroVietnam Gas Joint Stock Corporation shares (GAS) have climbed 8.8 per cent since the beginning of this year.

According to Bảo Việt Securities Company (BVSC), large-cap stocks will likely extend gains early next week, supporting the overall market. However, the market may experience some volatility when VnIndex approaches the old peak.

Meanwhile the BIDV Securities Co (BSC) said in its report that investors may consider increasing their stock proportion in the pillar stocks of the market, because these stocks are attracting major cash flows in the market.

Source: VietNamNews

Vietnam F1 race looks likely, says Ecclestone

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A Formula One race in Vietnam could be on the calendar by 2020, according to the sport’s former commercial supremo Bernie Ecclestone.

“I think you’re going to get a race in Vietnam,” the 87-year-old told reporters invited to his private offices in central London to talk about various issues ahead of the new season starting next month.

The billionaire Briton, who was moved aside into an undefined ‘emeritus’ role in January last year after U.S.-based Liberty Media took over, said a street race in Hanoi looked likely.

Ecclestone, who remains employed by Formula One on a multi-million pound salary, said the Vietnamese government was willing to pay a significant amount to promote the South-East Asian country by hosting a grand prix.

“They haven’t made a contract yet as far as I know. But if they have, it’s at least two years away isn’t it?,” he said.

The Malaysian Grand Prix dropped off the calendar after last year’s race but Formula One bosses have talked about expanding in China.

There have also been talks with Thailand, which came to nothing, but Vietnam is already an important emerging market for some of the sport’s global sponsors such as Dutch brewer Heineken.

Ecclestone told Reuters last year that he had talks with the Vietnamese while he was running Formula One but decided, despite the money on offer, against taking the sport there because he felt there were enough races in that part of the world.

He also recalled Liberty’s criticism subsequent to their takeover of his decision to go to Azerbaijan, a country without a racing history but willing to pay handsomely and whose race was rated the most exciting of last season.

The Briton warned, however, that uncertainty over the sport’s future was something any local promoter should consider.

The current agreements between teams and Formula One mostly expire at the end of 2020, with glamor team Ferrari already threatening to leave if they do not like the direction things are headed.

There is also plenty of debate about what kind of engine to use after 2020, with the current V6 turbo hybrids criticized as too expensive, complicated and quiet.

While some see Ferrari’s threats as empty ones, with Formula One central to their image and history, Ecclestone repeated his view that the president Sergio Marchionne was to be taken seriously.

Source: Reuters

HD Bank Open Vietnam 2018

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What do you look for when you choose to play in an international event? 1. Strong field, 2. A good place to visit, 3. Affordability. What if we said that all of this is possible if you play at the HD Bank Open 2018 in Vietnam. With the top seed being 2737 and close to 100 titled players expected, this is a perfect tournament for you to gain exposure/norms. Apart from this Hanoi is a beautiful city in Vietnam with a lot of tourist attractions. Ha Noi city is located on the banks of the Red River, visiting the river shore will surely be a pleasant experience!

Welcome to the 8th HD Bank Open 2018

The 8th HD Bank chess open will be held from 9th to 16th March 2018 in Ha Noi the capital city of Vietnam. HD Bank open is the strongest annual event held in Vietnam. Because of its excellent playing conditions and huge prize fund, this event has always attracted strong players from across the globe. Let’s have a look at what this tournament has to offer us!

Tournament Venue

Ha Noi, located on the banks of the Red River, is one of the most ancient capitals in the world, the HD Bank open will take place in five-star Army Hotel, to play a tournament in the great place like this is always fun.

The Schedule

Round 1 starts March 10th. There are four days with double-rounds.

Who can participate in this tournament?

There are two categories in which this tournament will be conducted, Masters and Challengers.

Master Category: For players rated above 2100 and women rated above 2000.

Challenger Category: For players rated below 2100 or unrated.

These Top guns will be firing down the shots in 2018 edition!

The Vietnamese superstar and world-class player GM Le Quang Liem (2737) will be present here to defend his title, he has already won this championship three times in 2013, 2015 and 2017. Will he be able to win it for the fourth time?

GM Le Quang Liem with the 2017 edition’s Championship Trophy

Chinese super GM Wang Hao (2712) will be the second seed of the tournament. He has many championships under his belt including strong opens like Sharjah and Al-Ain classic. He is a strong contender for the title

Prizes

What really attracts these top grandmasters is the huge prize-money!

Fifty-five thousand US Dollars (US$55,000) will be the total prize fund, which includes 26 main prizes. Prizes shall be awarded are as follows:

Master Category

1st: $15,000; 2nd: $6,500; 3rd: $4,500; 4th: $2,500; 5th: $1,600; 6th: $1100; 7th: $1000; 8th: $900; 9th: $800; 10th: $700; 11th: $600; 12th: $500; 13th to 16th $300; 17th to 20th $250; 21st to 26th $200.

To encourage female participation and to boost women chess, organizers have declared prizes for top six women participants. The prize money is as follows:

Best women

1st: $5,000; 2nd: $2,500; 3rd: $1,500; 4th: $700; 5th: $500; 6th: $300;

Best U16 $200. Best Seniors >60 $200.

Challengers Category

Main Prizes: 1st: $1,200; 2nd: $800; 3rd: $600; 4th: $500; 5th: $350; 6th: $250.

Best women: 1st: $500; 2nd: $300; 3rd: $200.

Best U12: $150. Best Seniors >60: $150.

Excellent IM/GM norm chances
There are great chances to achieve your IM/ GM norm in this tournament as many strong players are going to play here. Last year a total of 85 titled players took part including 29 GMs, 9 WGMs, 26 IMs and 3 WIMs.

Starting list for 2018

As you can see top 20 players are above 2500 rating, a solid performance will ensure you a norm.

No. Name Rtg
1 Le Quang Liem 2737
2 Wang Hao 2712
3 Sethuraman S.P. 2646
4 Mareco Sandro 2632
5 Gordievsky Dmitry 2630
6 Nguyen Ngoc Truong Son 2630
7 Aravindh Chithambaram Vr. 2617
8 Wen Yang 2608
9 Zhao Jun 2599
10 Bernadskiy Vitaliy 2588
11 Karthikeyan Murali 2585
12 Rozum Ivan 2582
13 Narayanan.S.L 2573
14 Bogdanovich Stanislav 2560
15 Pichot Alan 2552
16 Krysa Leandro 2548
17 Lei Tingjie 2541
18 Vishnu Prasanna. V 2526
19 Sivuk Vitaly 2524
20 Tran Tuan Minh 2522

Entry Fee

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For Challenger category: $50 for players rated from 1900 to 2100 and $75 for others.

Attractions in Ha Noi city and its surroundings

Known as the lake of the returned (or restored) sword, Hoan Keim Lake lake marks the historical centre of ancient Hanoi.

Hoan Kiem Lake | Photo: http://www.touropia.com

The old quarter is a mesh of the old and the new, as antique narrow streets snake between old brick buildings, covered in modern motorbikes and street vendors.

Ha Noi old quarter | Photo: http://www.ndh.vn

Arguably one of the most incredible destinations in all of Vietnam is Halong Bay. Although it is over 160 km (100 miles) east of Hanoi, it is definitely worth the journey.

Halong Bay | Photo: Robert Balwin

The scenery of Tam Coc is the first thing you’ll notice

Tam Coc is just 90 minutes south of Hanoi | Photo: Vietnampackagetravel.com

Just 25 km (15 miles) outside of Ha Noi, on the other side of the Red River, is Bat Trang. The village itself is ancient, dating back more than 1,000 years, and it is known for its ceramics.

Bat Trang pottery village | Photo: Dalat Trip

by Atul Dahale, 

Source: https://en.chessbase.com/post/hd-bank-open-vietnam-2018

Traveling into the beating heart of Vietnam

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Don’t let anybody — not even your most trusted bestie — tell you that the overnight trip from Hanoi through rugged, forested mountain country to the provincial city of Lao Cai, on Vietnam’s north-western border with China, is one of the great railway journeys of the world, even if you are riding in a carriage quite ludicrously named the Orient Express.

Firstly, the narrow bunk in the four-berth cabin really is only just comfortable enough to get some reasonable sleep, especially with the constant banging of the door — or was it the window or a shutter? — against the outside of the train as it lurched nearly 400 kilometres towards the station where a driver would meet us for the hour’s trip further into the mountains to our real destination … the town of Sapa.

Secondly, it is an overnight trip, after all, and it starts and finishes in darkness, so all you see are the burbs of Hanoi and a few ramshackle sidings. And no glasses of champagne or tinkling of the ivories here, though you can grab a cheap bowl of pho from one of the many hawkers plying the platforms before you steam out of Hanoi.

Also, a word of advice about Hanoi Station. Make sure that you have a guide who clearly understands which train and which carriage you’re in — and that they take you to that carriage, not just to the station. Finding your allocated cabin may require clambering over tracks and weaving around other trains.

But it’s a journey I’m very glad to have made, because it is the only realistic way for Western travellers to get to this quite remote, fascinating corner of the world, which seems occupied mostly by splendidly garbed tribal groups — Black Hmong, Red Dzao and Flower Hmong among them — driven out of China some 15-20 generations ago, and earnest young European backpackers off to do some serious trekking indeed.

Strangely, Sapa reminds me somewhat of the largish towns in the Yorkshire Dales and the English Lakes District — lots of shops selling walking boots, bars selling beer by the pint, and restaurants trading in all varieties of food.

Yes, it would be easy to dismiss Sapa as a touristic curiosity, but in ways that’s what it’s always been — a hill station established in the early 1920s by French colonials as relief from the stifling summer heat of the Vietnamese lowlands.

Our trip has been organised in Sydney through Selective Tours and the Sapa end certainly seems under control. The driver meets us very early in the morning just outside the station, exactly as arranged, in a large, very comfortable vehicle and the hotel in Sapa, the Sunny Mountain, is modern, clean and comfortable … and extremely well located, just an easy stroll from the town’s bustling restaurant and market district.

The rising sun has provided a glimpse of the mountainous topography and it’s confirmed by walking directly from the street into about the sixth floor of the hotel, with the lower floors cascading down the side of the hill.

The views from the restaurant and terrace, over the valley towards Fansipan Mountain, Vietnam’s highest, provide a spectacular backdrop to breakfast while our room is being prepared.

We spend our first day taking in the town, and taking it a bit easy, knowing that the following day will bring quite a bit more exercise as we head, mostly on foot, into the surrounding countryside.

There’s plenty to see and do. The clothing and handcraft stalls in the markets are run mostly by women from the ethnic hill tribe groups, mainly Hmong and Dzao of various colour persuasions — red, black, white, green/blue, largely dependent on predominant dress colours, but all culturally quite different and all magnificently dressed in intricately woven materials.

The walk around the Ho Sa Pa Lake is extremely pleasant and you readily see why the well-to-do — for that read merchants and Communist Party officials — choose to live on its banks.

And the Sapa Culture Museum is well worth an hour or two.

Restaurant-wise, there’s plenty of choice, but my advice is to stick with local fare, which is cheap, nutritious and mostly good. Straying into cuisines such as Italian — what were we thinking? — seems to bring nothing but disappointment and higher costs.

Wine, as everywhere in Vietnam, is problematic, despite the country’s strong French connection. But the beer — such as Hanoi and 333 (‘ba ba ba’) — is plentiful, cheap and eminently drinkable.

Next morning we meet our guide, a young Red Dzao woman who married a few years ago, has a couple of young children and lives nearby with family. We head off with our driver, but soon it’s on foot, never alone, always accompanied by women and children keen to practise their English and, yes, hopeful of selling a few trinkets or getting a tip for their local knowledge.

But it isn’t a hassle, certainly nothing like in Beijing or Shanghai.

The countryside is an eye-opener. We’ve all seen the gorgeous photos of intricately terraced fields of rice ascending otherwise lush, green mountains, but it isn’t until you’re close up that you fully realise the work and skill that goes into growing and harvesting the daily meal.

And that’s essentially what it is in this part of the world. The north-western corner of Vietnam is a poor country. It’s a colder, less fertile spot than, for instance, the Mekong Delta a couple of thousand kilometres to the south, and can generally only yield one crop of rice a year, rather than the latter’s three.

That means there’s much less chance of a surplus to sell and a consequent way out of the subsistence cycle. And the work required is obviously much more strenuous.

We walk past many farms, stop and buy some exceptionally fine and colourful local weaving and have some delicious pho for lunch, with a can of Hanoi beer to wash away the dust.

Everywhere you go, they make the most of flat space, with rice being dried by the roadside, for instance. And everywhere you go, the emphasis placed on education is so very obvious. These people know that the future lies with the citizens of tomorrow.

A highlight of our stay in Sapa is a visit to the Can Cau Saturday market, a couple of hours by car along some dodgy roads but it’s well worth the excursion to wander around so many stalls selling such an incredible range of foodstuffs, clothing and tapestry-work.

Our guide haggles for some vegetables to take home. We mostly just soak up the atmosphere and are bewildered by such a frenetic scene.

Meanwhile, down the hill a bit, there’s a constant parade of livestock being sold, swapped or just admired.

And then it’s back to Lao Cai, where we have time to look at the bridge that constitutes the entry point to China, have a couple of dishes of noodles with pork and vegetables and have my shoes polished, before heading to the station for the overnight journey back to Hanoi.

 

By: John Rozentals

Source: http://www.thecourier.com.au/story/5239490/travelling-into-the-beating-heart-of-vietnam/

China’s Geely buys a $9 billion stake in Daimler, reports Bloomberg

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The billionaire founder of Zhejiang Geely Holding Group Co. has accumulated a stake worth about 7.3 billion euros ($9 billion) in Daimler AG, marking the biggest investment in a global automobile manufacturer by a Chinese company.

Li Shufu acquired the 9.7 percent holding through Geely Group, a company owned by the 54-year-old and managed by the carmaker he controls, according to a statement Saturday. Bloomberg News first reported that Geely has become the single largest investor in the parent of Mercedes-Benz by building up a position of just under 10 percent through purchases in the stock market in recent weeks.

The investment furthers Hangzhou-based Geely’s foray into the European premium automotive market and ends months of speculation about a tie-up with Daimler. The Chinese company already owns Volvo Cars AB, whose refreshed line-up of vehicles have made it a popular alternative to the German luxury stalwarts.

“A Geely stake in Daimler would underscore their push for cooperation that’ll help them get more expertise, like electric cars,” said Frank Biller, a Stuttgart-based analyst with Landesbank Baden-Wuerttemberg. “At the same time, this opens another path into China for Daimler.”

Geely financed the deal through a combination of debt, equity and financial instruments overseas and didn’t use domestic funds in China, Chief Financial Officer Li Donghui told CCTV in an interview. He said the actual cost for the stake is lower than its market value, without elaborating. In its statement, Geely said Li has a “long-term commitment” to the Daimler stake, and neither Geely Group nor any other company in the Zheijang Geely Holding Group intend to acquire additional shares for now.

A Chinese Car Built in Western Europe? Geely Could Be First

Daimler, which said it welcomes another major investor, has been on an upward trajectory, reclaiming the No. 1 spot in luxury cars from BMW AG by broadening its offerings to include more SUVs and freshening its lineup with sportier designs. The Stuttgart-based carmaker sees the investment as a vote of confidence, spokesman Joerg Howe said by phone.

“Li Shufu is a Chinese entrepreneur Daimler knows well and regards highly in terms of his competency and focus on future developments,” Howe said. “Daimler already has a strong footing in China. We have a very strong partner with our existing cooperation with BAIC Motor.”

Chinese companies have been more active buying into German companies in recent years. HNA Group Co., the aviation-to-hotel conglomerate, holds a minority stake in Deutsche Bank AG, and industrial-robot maker Kuka has been taken over by Midea, the world’s largest appliance maker.

Expansion Ambitions

In December, Li became the biggest shareholder in Sweden’s Volvo AB, the world’s second-largest truckmaker. In 2010, he acquired Volvo Cars from Ford Motor Co., and last year won control of British sports-car maker Lotus Cars Ltd.

The Chinese firm, which controls Hong Kong-listed Geely Automobile Holdings Ltd., has ambitious expansion plans for both its home market and overseas as it takes on global car majors. Geely plans to start selling a compact five-seat SUV, currently marketed under the Lynk & Co brand, outside China from mid-2019. It’s likely to look first at Europe.

Eventual Split?

Read this Gadfly column on what Daimler gets out of Geely’s investment

Daimler itself is planning the biggest corporate overhaul in a decade, having firmed up plans toward the end of 2017 to break up its rigid conglomerate structure, instead creating a holding company with three separate units: Mercedes-Benz Cars & Vans, Daimler Trucks & Buses and the financial-services division. While Daimler said the move isn’t a prelude to a spin-off of any of the businesses, some investors have called on the company to consider an eventual split on the back of the clearer delineation between the units.

Germany is aware of the investment and sees no need to use competition or foreign investment rules to intervene, according to a government official. Kuwait’s sovereign wealth fund, which has been an investor in Daimler for decades, was the largest stakeholder in the automaker as of the end of December with a 6.8 percent holding.

“The competitors which technologically challenge the global car industry in the 21st century are not part of the automotive industry today,” Li said in the statement.

“But with challenges come opportunities. No current car industry player will be able to win this battle against the invaders from outside independently. In order to succeed and seize the technology highland, one has to have friends, partners, and alliances and adapt a new way of thinking in terms of sharing and united strength,” he said.

With assistance by Ruth David, Vinicy Chan, Eyk Henning, Ying Tian, Dinesh Nair, Elisabeth Behrmann, Benedikt Kammel, Linly Lin, Birgit Jennen, Steve Geimann, and Chitra Somayaji

Source: Bloomberg

Thousands block Hanoi’s main street outside overcrowded pagoda to wish away bad luck

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Locals believe that the ritual will help them avoid unfortunate events in the new lunar year and only monks at pagodas can help them do so.

Thousands of people fill a street in Hanoi’s Dong Da District on Friday night as they attend a ceremony to pray for peace in a new lunar year, which began last week.

Traffic police puts up barriers in early afternoon on Friday ahead of the ceremony at 7 p.m. at Phuc Khanh Pagoda in order to maintain traffic order on Tay Son Street.

As many as 700 officers, including fire fighters, are gathered for this event, which is held one week after the lunar new year starts until the mid of the first lunar month.

Some people arrive at Phuc Khanh Pagoda as early as 2 p.m. to save themselves a seat due to limited space at the pagoda. Many Vietnamese believe that their fate is decided by the stars designated for that year, and while some are considered lucky, some are not and can cause troubles. That’s why they have to visit pagodas to pray so the bad stars will leave them alone.

Latecomers, unable to find a seat in the pagoda, have to stand and pray outside on the street amid Hanoi’s winter cold.

Inside the pagoda where the ritual takes place.

Attendants take up half of the space on Tay Son Street on Friday night.

Some people even stand against the traffic barrier to pray all other spots closer to the pagoda are already occupied.

 

Source: Vnexpress

Learning Automated Crypto Trading Strategy: 4 Steps to Earning

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In February, Cryptense, a full-stack Blockchain company, introduced a new decentralized platform for creating and executing cryptocurrency trading strategies automatically: Kryll.io. The company has also came up with an explainer on how you can earn big using its solution.

Drag ‘n’ drop strategy blocks

The first step to earning online with Kryll platform is to create a strategy depending on your preferable markets, the cryptocurrencies you are interested in, and your level of involvement. The strategy can be very simple or extremely advanced – it’s up to you to decide.

Kryll offers functional blocks that can help you. One of them, Market Trends, provides market information including price fluctuations, demand versus supply analysis, machine learning based market predictions and other options. In your strategy you can also include your preferable trading actions, such as buying, selling, splitting amounts into subsets, and many others.

Kryll’s most interesting feature is Signals, a combination of recent tips coming from professional traders, Telegram channels or social networks. Notifications by text messages or emails will inform you on the latest market developments, for example, if BTC, Ripple, ETH or other currencies are growing and receiving positive feedback on Twitter.

Proof-test your strategy

How can you test the strategy that you have built to see if it is right for you and your purposes? The best way to do so is testing your strategy against the market. Kryll allows you to safely execute your strategy before using it in the real world. Using the test environment in the platform, you’ll be able to test over the previous six months of recorded data.

Another option is to test the strategy as it was actually running on the market. This option will show how your brainchild performs in the real-time trading environment and, at the same time, will protect you from real world losses in case of mistakes.

As soon as you are confident enough with your chosen strategy, you can start implementing it to build some confidence. For example, you can buy a new coin at a market price and then optimize it using the tools Kryll provides.

Trading 24/7, night or day

If your strategy proves to be successful, the time is right to use the best Krylls feature, which is 24/7 trading. Kryll.io supports exchanges around the globe, including Bittrex, Poloniex, Coinbase, Cryptopia, Binance, HitBTC, and many others. The company also has several dedicated servers in Europe, Asia, and North America.

Cryptocurrencies are bought and sold on many various exchanges and sometimes at different prices. It’s possible to profit from the very tiny fluctuations between buy-price quotations. Kryll founders promise their software will allow to execute trading strategies in the most efficient way.

There are many risks associated with trading, and you might be worried of cyber security, especially if you are executing your strategy automatically. Luckily, Kryll’s servers are under permanent DDOS protection. The startup founders also plan to have an external security audit every quarter.

Sharing with the community

With Kryll, you can earn while sharing your knowledge and ideas with other people on the platform. “We think collective intelligence is a huge asset that’ll make all of us more successful in the trading market,” the company said in its white paper.

The platform will offer a marketplace section where users can share their strategies for a fee. People with excellent insights can help their fellow traders and generate some profit at the same time.

The marketplace will also feature chats on different strategies, where people are able to interact, collaborate and give advices to each other. Users will rate strategies featured on the marketplace according to their efficiency.

Source: Vicky Lova

Gold’s turn to shine this year

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Buying gold on the day of the God of Wealth for good luck might well be just a belief, yet gold might not be too bad an investment for now and long-term investors should watch out for various factors that could affect the price.

Gold or not

As the God of Wealth or the tenth day of the first lunar month draws near, the demand to buy gold among local residents has shot up, whilst prices are adjusted northward by gold merchants across the nation.

Relying on gold for a whole year of good luck is in fact a tradition followed by quite a number of Asian nations including Vietnam for years. However, could buying a tael of gold on this very day bring luck for the buyer?

“Buying gold for luck is purely a belief. For many, the strength of the belief may vary, with some buying foreign currencies or even Bitcoin for luck. We should note that if it held true, the God of Wealth would bring luck in terms of money, meaning money coming in. Buying gold means we are paying money for it. It is therefore not very rational,” said investment advisory manager Phan Dung Khanh from Maybank Kim Eng (MBKE) Securities in Ho Chi Minh City.

“The wheel of fortune in this case will reward gold sellers, not the buyers,” Khanh said.

The wheel of fortune in this case will reward gold sellers, not the buyers.

Khanh told VIR that it would not be necessary to queue on the day to buy a piece of gold at an absurdly high price (plus the many other associated fees). Buying on the day would often result in a loss for the buyers, so it is no luck at all.

“Some have ventured to collect gold at lower prices during the days before the day of the God of Wealth, then sell on the day to make a profit, which may actually bring them luck,” he added.

Gold prices have started to edge up a couple of days before Sunday. At Hanoi-based Doji Gold and Gems Group (Doji), for instance, SJC gold has reached VND36.90-37.15 million ($1,677-1,688) per tael on Friday, and VND36.86-37.38 million ($1,667.2-1,699) a tael on Saturday.

On Caishen Day (the day of the God of Wealth), gold is in extremely high demand.

Photo: Dung Minh

At Phu Nhuan Jewelry (PNJ), the increase in the price of SJC gold has been reported in the range of VND30,000-50,000 ($1.36-$2.27) on Friday.

According to Doji’s Gold Trading Division, precious metal prices in the international market, meanwhile, ranged between $1,328.68-1,328.95 per ounce on Saturday morning.

The difference between international and local gold prices, once converted to tael, have been reported at VND910,000 ($41.36) on Saturday and VND610,000 ($27.72) per tael on Friday.

The soaring demand for gold on the tenth day of the year is often said to be a result of a psychological factor and gold merchants taking advantage of an old myth to raise prices. Gold buyers, on the other hand, are not overly concerned about the prices when it comes to securing their luck for the year.

Sun to shine on gold?

The price of the precious metal in 2018 is expected to follow its 2017 momentum when prices edged up slightly.

According to Khanh from MBKE, since the end of 2017, the price of gold has started to move up amid the short bear markets in securities and real estate.

“Should this trend persist in 2018, there is a possibility that gold will shine once again after some seven years of hibernation,” Khanh said.

Should this trend persist in 2018, there is a possibility that gold will shine once again after some seven years of hibernation.

He added that this would particularly hold true as the price of Bitcoin is in a slump, which in turn could support the return of gold.

“Besides, if the dollar is not too strong and the pace of the Fed rate hikes is not too fast, gold will be further shored up. Otherwise, the price will stay quiet for the 8th consecutive year,” Khanh said.

In addition, Khanh warns that macroeconomic factors should also be taken note of, as the US economy, the global economy, and the stock market could all go in a slump, inflation adds up, and bond yields soar. These usually channel money towards safe havens such as the Japanese yen, the Swiss franc, T-bills, and gold.

“Gold investors should consider these factors and the resistance at $1,400. If this test resistance for gold is reached, then gold prices will probably go into a long-term upswing.”

“Mid- to long-term investment in gold and reshuffling investment portfolios to swap some savings or real estate into gold for now will carry low risk as the gold price is in its low zone at present, since its peak in September 2011,” Khanh noted.

“Short-term investors intending to invest in gold will bear the higher risk as although the gold price fluctuates in a narrow range with strong margin, it would be easy to lose out for these investors without proper risk control. Or, if the gold remains calm for a bit longer, short-term investors will lose the opportunity to invest in other channels, such as the stock market which has soared some 48 per cent in 2017.”

According to the World Gold Council (WGC), in 2017, investors added gold to their portfolios as incomes increased, uncertainty loomed, and gold’s positive price momentum continued. As 2018 begins, key market trends such as synchronised global economic growth and frothy asset prices will support demand and maintain gold’s relevance as a strategic asset.

WGC said that over the long run, there are also four attributes that make gold attractive as a strategic investment, for it has been a source of return for investors’ portfolios and its correlation to major asset classes has been low in both expansionary and recessionary periods.

Additionally, it is a mainstream asset that is as liquid as other financial securities and has historically improved portfolio risk-adjusted returns.

 

 

Source: Trang Nguyen

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