The Hanoi People’s Committee has recently issued a decision including four new tourist sites, including the Quan Thanh Temple Special National Monument, the Voi Phuc Temple Special National Monument, the Ngoc Island – Truc Bach tourist site, and the Kim Lan tourist site, according to VNA.
The People’s Committee has assigned the Ba Dinh District People’s Committee to manage, exploit, and develop the Ngoc Island – Truc Bach tourist site (Truc Bach Ward, Ba Dinh District), the Quan Thanh Temple Special National Monument (Quan Thanh Ward, Ba Dinh District) District), and the Voi Phuc Temple Special National Monument (Ngoc Khanh Ward, Ba Dinh District).
The Kim Lan Commune People’s Committee (Gia Lam District) is responsible for managing, exploiting, and developing the Kim Lan tourist site in accordance with the Tourism Law and related legal documents.
Quan Thanh Temple is located on the old Co Ngu Street, now Thanh Nien Street, Quan Thanh Ward, Ba Dinh District. This is one of the ancient “Thang Long Tu Tran”, next to Bach Ma Temple, Voi Phuc Temple and Kim Lien Communal House. Photo: Vuong Loc
A representative from the Hanoi People’s Committee stated that tourism in Hanoi is experiencing strong growth. The city is currently focused on investing in, protecting, and preserving tourist sites and historical monuments to diversify and enrich tourist attractions and meet the increasing demands of visitors.
According to the Hanoi Department of Tourism, in the first seven months of this year, the total number of tourists visiting Hanoi is estimated to have reached 16.44 million, an 11.8% increase compared to the same period in 2023. Of this, international tourists are estimated to have reached 3.43 million. Total revenue from tourism is estimated at over VND 63,602 billion, an 18.9% increase compared to the same period in 2023.
According to the Ho Chi Minh City Department of Tourism, tourism revenue in the first seven months reached 67.5% of the 2024 annual target, an increase of 15.4% compared to the same period in 2023.
International visitors to Ho Chi Minh City recorded an increase of 30.3% over the same period. Photo: Linh Huynh.
On the morning of August 9th, the Ho Chi Minh City Department of Tourism held a conference on tourism development in the first half of 2024 in District 7.
According to published data, in the first seven months of the year, Ho Chi Minh City welcomed 3,075,256 international visitors, up 30.3% from the same period in 2023, achieving 51.3% of the annual target.
Domestic tourists to Ho Chi Minh City were estimated at 20,082,159, an increase of 7.6% compared to the same period in 2023, reaching 52.8% of the 2024 target.
The Department of Tourism, in collaboration with businesses, tourism experts, the People’s Committee of Thu Duc City, and other districts, has released the “Ho Chi Minh City Tourism Product Guide,” continued to develop community-based tourism models in Thieng Lieng islet, promoted the “Moonlight Battle Zone” night tour program, and maintained the “Tour of National Architectural Heritage – Ho Chi Minh City Hall” program.
Many sightseeing and experience activities are loved by tourists when coming to Ho Chi Minh City such as getting their nails done, going on motorbike tours, going on river boats, and visiting the Ho Chi Minh City People’s Committee. Photo: Linh Huynh.
As of now, Ho Chi Minh City has developed 17 waterway tourism products, including 7 regular waterway product groups and 20 new product groups introduced to both domestic and international visitors. The number of tourists traveling by waterway to Ho Chi Minh City has increased by approximately 10-20% compared to the same period last year.
Recently, Ho Chi Minh City has regularly organized tourism stimulus programs and events, attracting nearly 100 tourism and service businesses to participate. Additionally, the city has strengthened tourism promotion activities through the Ao Dai Festival, Waterway Festival, Ho Chi Minh City Tourism Day, and regular promotional and tourism marketing activities in countries such as Germany and Japan.
In the near future, Ho Chi Minh City will focus on qualitative tourism development, emphasizing revenue growth rather than just counting visitor numbers. The city will also advise the People’s Committee of Ho Chi Minh City to approve the “Ho Chi Minh City Tourism Development Strategy to 2030,” implement the Smart Tourism and Waterway Tourism Development Project, and enhance tourism management, training, and development cooperation efforts.
Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) has announced that August 29, 2024, will be the final registration date for shareholders to exercise their right to receive dividends for 2023. The dividends will be paid in shares at a rate of 30%.
MSB plans to increase its capital by issuing new shares as dividends, utilizing retained earnings based on the audited financial statements as of December 31, 2023, after allocating funds in accordance with legal requirements. The issuance rate is set at 30% of the total outstanding shares, meaning shareholders will receive 30 additional shares for every 100 shares they own. This move will result in the issuance of an additional 600 million shares, making MSB the bank with the highest dividend payout this year.
Following this capital increase, MSB’s total outstanding shares will rise to 2.6 billion, bringing the bank’s new charter capital to VND 26,000 billion.
The State Bank and the State Securities Commission have already approved this capital increase proposal. This boost in charter capital is expected to strengthen MSB’s financial capacity, enhance its competitiveness, and support its business development and risk management strategies. Moreover, it will serve as a strong foundation for accelerating the bank’s digitalization and sustainability efforts.
In its recently announced second-quarter business results, MSB reported stable growth across key indicators. As of June 30, 2024, the bank’s total assets surpassed VND 295,500 billion, marking a 10.69% increase compared to the end of 2023. Individual credit growth reached 12.41%, while customer deposits and valuable papers rose by 15% and 64%, respectively, compared to the end of the previous year. MSB’s consolidated total net income (TOI) for the first half of the year amounted to VND 7,031 billion, reflecting a 10% year-over-year increase. The bank also recorded a consolidated pre-tax profit of nearly VND 3,690 billion, up 4% from the same period last year, achieving 54% of its annual profit target.
Beyond its financial growth, MSB remains committed to its sustainable development strategy, integrating environmental, social, and governance (ESG) factors into its operations. The bank regularly publishes a Sustainable Development Report, which details its progress in “greening” its operations and outlines specific goals for each year. MSB was among the first banks in the market to release such a report, with the inaugural edition published on September 15, 2023, covering its 2022 activities.
The June 2024 report highlighted a reduction in the bank’s carbon emissions in 2023 compared to the previous year, along with commitments and actions aimed at achieving long-term sustainability goals. MSB views this report as a key communication tool for conveying the impact of its business activities on the economy, environment, and society, and it plays a crucial role in enhancing the bank’s market position.
MSB’s focus on sustainability is also evident in its risk management frameworks, green financial solutions for customers, and environmentally friendly internal practices. The bank has recently received several ESG awards in recognition of these efforts.
As a reputable listed organization, MSB prioritizes effective investor relations to maximize shareholder value. Additionally, the bank has made significant contributions to the State budget, totaling over VND 4,362 billion in the past three years, ranking it among the top 10 banks with the largest budget contributions.
The city is grappling with traffic overload, as nearly 400,000 new personal vehicles hit the streets each year. To address this, Hanoi is prioritizing the expansion and integration of its public transportation system. The goal is not just to introduce new transit options but to create seamless connections between them for greater convenience.
Currently, Hanoi operates two urban railway lines: Cat Linh – Ha Dong and the elevated section of Nhon – Hanoi Station, which together serve more than 700,000 passengers daily. To enhance connectivity, the city has developed dedicated bicycle lanes and established multiple bus routes that link these railway lines.
Truong Minh Son, a student, shared: “For the past two years, the Lang Street station on the Cat Linh – Ha Dong line has been my main way of getting to school. Combining public bicycles with the train has cut my travel time from nearly an hour to just 20 minutes.”
In addition to bicycles, buses are a popular option for commuters. Currently, 36 bus routes connect to the Nhon – Cau Giay Station section of the railway, with stops conveniently located near train station entrances and exits. This setup is particularly beneficial for vulnerable groups. Ho Van Minh Nhat, another student, noted: “The connection between trains and buses is incredibly convenient. It not only makes commuting easier but also encourages the adoption of public transport.”
Pham Dinh Tien, Head of Operation Planning at the Hanoi Public Transport Management and Operations Center, stated: “We are exploring and piloting inter-connected electronic tickets via mobile apps and contactless payment methods. This will allow people to use multiple forms of public transportation without having to pay separately for each one.”
Hanoi plans to build 14 urban railway lines by 2035. This ambitious project aims to create a robust public transportation network, serving as a key solution to curb traffic congestion and reduce environmental pollution.
Sometimes, things do not go according to plan, and the world of trading is no different. That’s why a significant part of your foreign exchange (forex or FX) trading strategy should involve developing a well-thought-out risk management strategy. Risk management strategies help you identify and mitigate potential outcomes that could damage your portfolio.
Why Is Risk Management So Important?
Risk management is the backbone of long-term trading success. It involves identifying, assessing, and mitigating potential risks to protect capital and minimize losses. Even the most promising strategies can lead to bad results without proper risk management.
Trading occurs in a high-pressure environment filled with uncertainty and constant surprises. That’s why it is essential to adopt a set of rules and policies that help mitigate these variables. Risk management provides a structured approach to handling the inherent uncertainties of trading, helping to safeguard your capital and maintain emotional stability. Here are some crucial reasons to consider a solid risk management strategy:
Longevity in the Market: Traders who focus on risk management are more likely to stay in the game longer. This allows you to accumulate experience and better understand market dynamics.
Stress Reduction: A well-thought-out risk management strategy reduces the emotional stress associated with trading. Knowing that you have a plan in place to limit losses can make it easier to stay disciplined.
Sustainable Growth: While aggressive trading strategies can lead to quick profits, they can also result in significant losses. A risk-managed approach aims for steady, sustainable growth, which is more conducive to long-term success.
Learning and Adaptation: Each loss becomes a learning experience rather than a catastrophic setback.
Risk Management Trading Strategies
Detailed risk management techniques are subjective and should be tailored to your unique personality, strengths, weaknesses, account size, and goals. While each trader should have a specific system, common principles apply to all traders. Following a few key guidelines is important to building a comprehensive risk management strategy.
Set Realistic Goals
What are your trading expectations relative to your account size? For forex trading in Singapore, consider both local market conditions and global factors that may impact your strategy. Your immediate goal should focus on growing your portfolio sustainably, paving the way for achieving your larger objectives. Set a realistic goal that doesn’t pressure you in terms of position sizing, screen time, or growth pace. This approach should support both your personal development and allow you to enjoy a balanced lifestyle.
Position Size
Adjust your position size based on the likelihood of your trade’s success. Use higher leverage for trades with a higher probability of success and lower leverage for trades with lower probabilities. Leverage allows you to amplify your positions using borrowed funds, serving as a key risk management tool. You’ll know you’ve chosen the right position size when you feel comfortable holding it, with minimal anxiety, even when in your risk zone.
Risk Reward Ratio
A fundamental guideline is to establish a minimum risk-reward ratio that is attainable and consistent with your strategy’s win rate. Remember that if you hold out for a more favorable entry point, you may miss some trades, but those that do trigger will likely offer a much better risk-reward ratio and a higher success rate. Adhering to a disciplined risk-reward ratio approach can lead to more efficient trading, a higher success rate, reduced stress, and quicker clarity on the outcome of your trades.
Portfolio Diversification
Portfolio diversification in forex mainly involves trading different currency pairs. Traders typically select pairs from major, minor, and exotic categories. Major pairs, like EUR/USD and GBP/USD, are highly liquid and influenced by global economic factors. Minor pairs, such as EUR/GBP and AUD/USD, often exhibit more volatility due to regional economic conditions. To diversify effectively, traders need to understand the correlations between different currencies.
For example, the Australian dollar (AUD) and the New Zealand dollar (NZD) often move together (positively correlated), while the U.S. dollar (USD) and the Japanese Yen (JPY) tend to have an inverse relationship (negatively correlated).
Using Appropriate Market Orders
Market orders are automated tools that can help you open, close, or secure profits on a trade based on specific conditions. For instance, stop-loss orders should be a critical component of your risk management strategy due to the market’s constant activity and price changes. They safeguard your capital by automatically closing a position if the price moves beyond a predetermined level. Consider the currency pair’s typical daily price swings and recent volatility to set stop-loss levels effectively. Other valuable order types include trailing stops, taking profits, and limiting orders.
The Cornerstone of Forex Success
Risk management is not just an aspect of forex trading; it’s the foundation of long-term success because it allows traders to protect their capital and steer the uncertainties of financial markets. This disciplined approach ensures a more resilient and adaptable trading practice, positioning you for enduring success in the forex market.
Hoi An’s allure extends beyond its stunning landscapes, delectable cuisine, and rich historical culture—it also preserves one of Vietnam’s oldest traditions: tailoring.
In 2006, Time magazine recognized Hoi An’s tailoring industry as the fastest and most affordable in the world, offering a wide variety of designs. This reputation continues to draw international visitors, like Canadian tourist Sarah Carver, who said, “Before coming to Vietnam, I watched many TikTok videos about quick tailoring, and I knew I had to visit Hoi An.”
Nguyen Thi Lan, a seasoned tailor in Hoi An, explained, “Our workers have at least 15 years of experience, so they work quickly and efficiently. We provide consultations on designs, fabrics, and measurements, and within about six hours, customers can try on their new clothes.”
Julie Nash, another Canadian tourist, praised the service: “I give it a perfect 10. I received a custom-made outfit exactly as I envisioned. I’ve never had a tailoring experience like this, and I feel so lucky to have visited Hoi An.”
Despite the rise of ready-to-wear fashion, Hoi An’s tailor shops maintain a unique and cherished place in the industry.
“Regardless of the next 60 days, the bull market will continue along traditional four-year cycle lines with solid gains in October and November,” one trader said.
Bitcoin (BTC) briefly spiked over $62,000 before retreating during the Asian morning hours on Friday as the broader market rallied to reverse a steep rout from earlier in the week. The recovery has some bitcoin bulls revisiting their $100,000 year-end target.
U.S. markets rallied on Thursday with the S&P 500 marking its best day since November 2022 and the tech-heavy Nasdaq 100 rising 3.1%. This helped reverse losses from a Monday rout, which saw major losses across stock indexes and cryptocurrencies.
BTC jumped 7.2% in the past 24 hours, one of its biggest single-day percentage gains in recent months. The move liquidated nearly $100 million in shorts, or bearish bets, on bitcoin-tracked futures. The $100 million liquidation was the fourth largest hit for bitcoin bearish bets this year.
Some market watchers attributed the gains to favorable stock market sentiment and expectations of BTC mirroring its past market cycles.
“Now that the Bank of Japan has indicated they will not raise interest rates further — and Jump Trading will run out of coins to sell, just like Germany did a few weeks ago — I do not see the price going much below $50,000 (other than a quick wick), perhaps ever again,” Transform Ventures founder Michael Terpin told CoinDesk in an email Friday.
“Regardless of the next 60 days, the bull market will continue along traditional four-year cycle lines with solid gains in October and November,” he added.
“If Trump wins, a rush of new buyers could take the bitcoin price over $100,000,” Terpin said, adding that the six months after the halving have had pullbacks — and this fifth bitcoin cycle is no exception. “October and November are historically strong months for bitcoin, especially in the year of the halving and the year after,” he said.
BTC’s rise revived gains among major tokens. Ether (ETH) and toncoin (TON) surged 10%, Solana’s SOL and Cardano’s ADA rose 5%. XRP slightly dropped after a 17% surge on Thursday, likely on profit taking.
The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by capitalization, minus stablecoins, zoomed 5.35%.
Coinbase argues the definition is vague, and urges the CFTC to make determinations on a contract-by-contract basis rather than broad categorization
Proposed rules by the Commodities Futures Trading Commission (CFTC) regarding prediction markets should be withdrawn because they exceed the commission’s statutory authority and ignore the positive impact of prediction markets on the economy, Nasdaq-listed crypto exchange Coinbase wrote Thursday in a letter to Commissioners.
“We firmly believe that this all-or-nothing approach to the treatment of event contracts is not consistent with the promotion of responsible innovation and growth in regulated, transparent markets with appropriate safeguards to protect market integrity and protect customers,” Coinbase’s Chief Legal Officer, Paul Grewal, wrote in the letter.
In May, the CFTC published a proposal on event contracts (prediction markets) that defined “gaming” as betting on outcomes of political contests, awards, or athletic events. This proposal had the support of three Democratic commissioners, CoinDesk reported at the time, who cited concerns over market integrity and the agency’s role.
In Thursday’s letter, Coinbase wrote that it objects to the CFTC’s broad definition of “gaming,” arguing that it unfairly restricts valuable event contracts by categorically banning them without considering their individual public interest merits.
“If adopted, the rule would capture contracts as “gaming” that by any common understanding are not, in fact, gaming,” Coinbase wrote, arguing that this is inconsistent with “legislative history related to gaming, neither of which suggest that gaming should extend beyond sporting events”.
Coinbase gave one use case for prediction markets for sporting events: a vendor hedging the costs of printing t-shirts in anticipation of a team winning a championship by taking a position in favor of that team’s loss.
The exchange complained in the letter that the Commission equates speculation with gaming but fails to distinguish between market speculation and actual gambling in its proposal.
“Few would agree that elections or professional awards such as Nobel Prizes or Academy Awards are granted through a process that should generally qualify as games, yet these are the examples presented as constituting such a definition,” Coinbase continued.
The proposal would also ban contracts on war, terrorism, and assassination.
Polymarket offers several contracts about geopolitical outcomes that would fit into this category, such as one that asks bettors if Iran will launch military action against Israel by next week in response to Israel’s assassination of Hamas’ leader in Tehran.
These may be useful for forecasting world events, and Coinbase argued that the CFTC is overlooking what it calls the significant benefits of prediction markets. Coinbase cites research showing that prediction markets can efficiently aggregate information and outperform traditional forecasting methods.
Instead, Coinbase proposes that the CFTC withdraw the broad, categorical ban on event contracts and continue evaluating them on a contract-by-contract basis, considering the public interest merit of each prediction market category.
“We urge the CFTC to withdraw this proposal and work alongside academic, industry, and policy stakeholders to develop a more balanced approach that promotes innovation while protecting the public interest,” Coinbase’s Chief Legal Officer Paul Grewal posted on X.
During the first half of August, the average airfare offered by airlines fluctuated between 35-65% of the maximum regulated fare.
According to the Civil Aviation Authority, airfares in early August are lower than regulated. Photo: Duy Hieu.
According to a survey by the Civil Aviation Authority of Vietnam (CAAV) on July 31, base economy class airfares (excluding taxes and fees) on major domestic routes are currently at low levels.
Specifically, on the “golden route” from Hanoi to Ho Chi Minh City, the highest fare offered by Vietnam Airlines is around VND 2.2 million per one-way trip, equivalent to 65% of the maximum regulated fare of VND 3.4 million.
On other days and at different departure times, ticket prices are significantly lower. The lowest fares, offered by Vietravel Airlines, are around VND 750,000 per one-way trip, which is about 26% of the maximum fare.
Another major North-South route, Hanoi to Da Nang, also sees high-frequency operations by domestic airlines. According to the CAAV survey, the highest fares on dates close to the survey (August 1 and 2) offered by Vietnam Airlines and Vietjet Air are around VND 1.6 million per one-way trip, which is approximately 56% of the maximum fare.
For departures scheduled further in advance, fares drop significantly across all airlines, with some dates offering fares around 25% of the maximum. Notably, Vietravel Airlines offers fares as low as VND 300,000 per one-way trip, equivalent to 12% of the maximum fare.
Another domestic route that garners significant interest during the summer and tourism season is the Hanoi to Cam Ranh (Nha Trang) route. The highest fare on this route, recorded on the weekend of August 3, was nearly VND 2.5 million per one-way trip (72% of the maximum fare), offered by Vietnam Airlines during the 9 AM to 5 PM time slot.
For this route, Vietjet Air is offering the lowest average fares during many of the survey period’s travel days, with prices starting at 25% of the maximum fare.
Meanwhile, the Hanoi to Da Lat route maintains stable prices throughout most of the survey period.
For the nearest departure date (August 2), Vietnam Airlines offered fares around VND 2.9 million during daytime hours, equivalent to 80% of the maximum fare. On other days throughout the period, fares fluctuated between 30-40% of the maximum.
Vietjet Air’s fares during this period were significantly lower than the maximum fare, ranging from VND 800,000 to VND 1.1 million, or 24-30%. Bamboo Airways also operates on this route, with fares ranging from 25-50% of the maximum fare.
The longest domestic tourism route in Vietnam, Hanoi to Phu Quoc, is currently operated by Vietnam Airlines and Vietjet Air. The maximum regulated fare for this route is VND 4 million.
According to the CAAV’s findings, Vietnam Airlines’ highest fare is VND 3.05 million, equivalent to 76% of the maximum fare (for a morning departure on August 8). For other travel dates within this period, both Vietnam Airlines and Vietjet are offering fares at 30-50% of the maximum.
For early morning or late evening departures on dates further out, Vietnam Airlines has fares starting at 27% of the maximum (on August 13-14), and Vietjet Air offers fares starting at 20% of the maximum (from August 6-15).
Overall, when comparing fares with the time of day, daytime flights, especially between 9 AM and 12 PM, tend to have higher average fares than other time slots (early morning or late afternoon).
However, the CAAV notes that certain localities like Ho Chi Minh City and travel agencies have launched programs that provide accommodation support for passengers choosing to fly during late-night hours. This not only offers passengers more options and helps reduce travel costs, but also alleviates daytime transport pressure for airlines.
“Based on the analysis of survey data on economy class airfares on domestic routes from August 1-15, it can be seen that airlines are still offering tickets at relatively low prices compared to the maximum regulated fare,” the CAAV confirmed.
A boat and cycling tour in Ninh Binh, a canyoning tour, and a three-waterfall tour in Lam Dong have recently made it into the top 25 outdoor and nature activities worth experiencing in 2024. These tours were highlighted in the “Best of the Best Things to Do” category by the travel platform Tripadvisor.
These awards are determined by the Tripadvisor online travel community, recognizing destinations and activities that receive the most positive feedback and highest ratings over 12 months. Less than 1% of the 8 million destinations and activities listed on the platform are awarded this distinction.
Tourists take a boat to explore Ninh Binh. Photo: LIPIT
Located about 100 km from Hanoi’s city center, Ninh Binh is a favorite destination for international tourists. Visitors can escape the bustling city life, breathe in the fresh air, and enjoy the peaceful countryside scenery.
In Ninh Binh, tourists can take a boat ride along winding rivers or cycle through the natural landscapes of Trang An, Tam Coc, or Van Long Lagoon. They can also explore the history and culture at the ancient capital of Hoa Lu, visit Bai Dinh Pagoda, discover mysterious caves, hike up to the panoramic views from Hang Mua, and end the trip with a meal of local specialties.
Tripadvisor describes the canyoning tour in Da Lat, Lam Dong province as an exciting adventure for nature lovers and thrill-seekers.
Pongour Waterfall is located in Tan Nghia village, Ninh Gia commune, Duc Trong district, Lam Dong province, about 50km from the center of Da Lat city. Photo: Caophiladen
Participants will have the opportunity to rappel down waterfalls, descend from high cliffs, and trek through forests. These experiences are suitable even for beginners, as guides instruct hiking and canyoning techniques before the adventure begins.
For those who enjoy admiring majestic waterfalls, photography, or outdoor activities, the three-waterfall tour in Lam Dong offers an exploration of Elephant Falls, Pongour Falls, and Datanla Falls. Additionally, visitors can kayak, discover local villages, learn about the highland culture, visit local farms, and enjoy regional dishes.
At a conference on August 7th, Dong Nai Provincial Party Secretary Nguyen Hong Linh urged local authorities and departments to focus on harnessing the potential and advantages of Long Thanh Airport to boost the province’s tourism industry.
Dong Nai plans to exploit the advantages of Long Thanh airport to develop tourism. Photo: TL
According to the plan, the first phase of the Long Thanh International Airport project is expected to accommodate approximately 70,000 passengers per day, and this number could quadruple in the second phase. This presents a significant advantage, and the province needs to prepare its infrastructure, tourism products, and projects to seize this opportunity.
To make Dong Nai an attractive destination, Mr. Hong Linh directed the development of five new tourism routes that maximize the advantages of Long Thanh Airport. Specifically, diverse tourism routes will be established from Long Thanh Airport to connect with local areas such as Bien Hoa, Vinh Cuu, Da Lat, Phan Thiet, Ho Tram, and various ecological zones within Dong Nai.
Regarding specific tourism products, the Provincial Party Secretary proposed organizing a hot air balloon festival, a pottery festival combined with a brass band festival during the upcoming April 30th holiday next year.
According to the Provincial People’s Committee, the modern highway and ring road systems that have been or are being constructed provide a competitive advantage for Dong Nai in attracting tourists and connecting the province’s transportation network to various tourist spots.
Currently, Dong Nai is implementing several key tourism projects such as the Thac Mai – Bau Nuoc Soi project, the Nui Chua Chan ecological tourism complex, and the Nui Le Lake project. The Dong Nai leadership has stated that the province will focus on developing eco-tourism, rural tourism, and culinary tourism.
In the past seven months, Dong Nai’s tourism sector welcomed over 2.1 million visitors, a 17.8% increase, with revenue reaching VND 1.385 trillion, up 29.1% compared to the same period in 2023.
A survey by Booking.com reveals that Vietnamese travelers typically prioritize booking flights, train tickets, and travel insurance before securing accommodations.
Vietnamese tourists’ travel plans are quite detailed but still flexible. Photo: CAAV.
A survey by Booking.com reveals that Vietnamese travelers typically prioritize booking flights, train tickets, and travel insurance before securing accommodations.
Booking.com’s recent report provides insights into the mindset and behavior of Vietnamese tourists when planning their trips.
The survey, conducted with 800 Vietnamese participants, shows that travelers plan their trips with clear goals, prioritizing the booking of crucial elements like flights and travel insurance, while also leaving some time for spontaneous activities during their journey.
While 35% of respondents indicated that they prefer to book flights and accommodations simultaneously, 52% prioritize booking flights first to avoid limited options or rising ticket prices. Only 12% book flights after confirming their accommodations.
About half of the survey participants said they would prioritize booking flights, train tickets, and travel insurance before securing accommodations. This approach ensures a smooth and comfortable trip, avoiding the stress of last-minute seat reservations.
Similarly, 50% of travelers in the survey said they would book event tickets before deciding on accommodations. This proactive approach ensures that they can participate in the activities or events they want, while also demonstrating thorough planning throughout the trip.
Some Vietnamese travelers even plan their meals ahead of time, though many wait until the trip begins, or even until they arrive at their destination, to choose restaurants or eateries. According to Booking.com, not planning meals in advance allows travelers to be flexible and freely explore hidden culinary gems and local specialties during their trip.
37% of travelers choose taxis as their primary mode of transportation throughout their trip, indicating that this remains the most flexible option for travel. This statistic also highlights that convenience and ease of calling a taxi are key considerations.
Overall, Booking.com notes that the travel planning trend among Vietnamese travelers reflects a balance between pre-booking and flexibility. This approach emphasizes their desire for a safe and comfortable trip, while allowing for freedom in exploration.
“Vietnamese travelers prepare thoroughly for their trips but remain highly flexible,” said Varun Grover, Country Director of Booking.com in Vietnam.
U.S. consumers are accumulating debt at a slower rate, data released Wednesday showed.
Although the unwinding of the yen carry trade has likely paused since Monday, stabilizing risk assets, including bitcoin (BTC). Still, other risks remain, such as the slower U.S. consumer borrowing, according to 10x Research’s founder Markus Thielen.
Total credit outstanding increased by $8.9 billion in June following an upwardly revised $13.9 billion in May, missing the consensus estimate of a $10 billion increase, data released by the Federal Reserve Wednesday showed.
Revolving debt, representing credit cards, which allow borrowers to access funds up to a specific limit and repay the loan over time, fell by $1.7 billion, the most since early 2021. Non-revolving debt, which includes student tuition and auto loans, rose $10.6 billion, the biggest increase in a year.
Perhaps more concerning is the increasing delinquency rates, a sign of deteriorating household balance sheets. In the June quarter, the share of credit card delinquents or those running late on repayments for more than 90 days, was 10.93%, the highest since the first quarter of 2012. Meanwhile, auto-loan delinquencies hit 4.43%, the highest since 2021.
It’s a sign U.S. consumers have maxed out on their borrowing capacity and present a challenge to bullish crypto narratives, according to Thielen.
“Weak U.S. consumer credit data, which dropped from $11.3 billion to $8.9 billion (below the expected $10 billion), mainly due to rare negative credit card debt and soaring delinquencies, signals a collapsing personal savings rate. This is significant for crypto as it suggests the fiat-to-crypto onramp will remain constrained due to maxed-out U.S. consumers,” Thielen said in a note to clients.
Thielen also cited the uncertainty surrounding the U.S. election, the slowing U.S. economy, and dwindling AI hype as risks to the crypto market. Both bitcoin and Nvidia (NVDA), a bellwether for all things AI, bottomed out with the debut of ChatGPT in late 2022.
Shares in NVDA peaked in June near $140 and have since dropped to $98, according to charting platform TradingView. Bitcoin changed hands at $56,800 at press time, down 10% in seven days, according to CoinDesk data.
Trading volumes nearly tripled and open interest on XRP-tracked futures jumped $200 million in the past 24 hours.
XRP surged 17% to lead market-wide gains as the long-running case between the closely related Ripples Labs and the U.S. Securities and Exchange Commission (SEC) reached a milestone settlement.
Crypto traders widely expected a settlement throughout July, with the tokens drawing outsized attention from South Korean markets and beating gains in major tokens on several days, as reported.
On Wednesday, a federal judge ordered Ripple to pay $125 million in civil penalties and imposed an injunction against future securities law violations. Although the case is said to have reached its end, SEC is expected to appeal the ruling – likely extending legal matters.
Markets positively reacted to Ripple’s settlement as prices of XRP zoomed to 65 cents from 50 cents after the ruling, with trading volumes jumping to $4.2 billion in the past 24 hours from Tuesday’s $1.2 billion.
As such, there were just $6 million in short liquidations on XRP-tracked futures, suggesting the movements were spot driven.
Meanwhile, open interest—or the number of unsettled futures contracts—on XRP-tracked futures rose by $200 million in the wake of the ruling, indicative of new money entering the market. Data shows that over 60% of these traders have a long bias and expect prices to increase further.
XRP was one of the few major tokens in the green during the Asian morning trading hours amid a flat market.
Meanwhile, Toncoin (TON) jumped nearly 6% to $6.33 after Binance announced it will list TON on its marketplace.
Bitcoin (BTC), Solana’s SOL and BNB Chain’s BNB were unchanged in the past 24 hours, data shows, while ether (ETH) dropped 3.4%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, minus stablecoins, is up 0.3%.
Inflow into bitcoin exchange-traded funds (ETFs) came in at $45.1 million for the August 7 trading day, according to market data. GBTC saw outflow of $30.6 million, while BTCW had inflow of $10.5 million and IBIT had $52.5 million.
Ether ETFs, saw outflows of $23.7 million. Grayscale’s ETHE hit $31.9 million in outflow, while Fidelity’s FETH had $4.7 million in inflow, ETH saw $1.7 million in inflow, and EZET had $1.8 million of the same. The rest registered no flow.
BTC’s lack of movement might be the market beginning to price in a potential Kamala Harris White House, with Semir Gabeljic, Director of Capital Formation at Pythagoras Investments pointing to Harris’ rise as a market catalyst to watch.
Harris, who recently tied Donald Trump both in the polls and on Polymarket (the latter of which has historically favored Trump), now has a pro-crypto advocacy group called “Crypto for Harris” attached to her name which hopes to make smart crypto legislation a bi-partisan issue. Many stakeholders, including Coinbase’s Chief Legal Officer Paul Grewal, are also calling for crypto policy not to be the domain of one party so that the U.S can play catch-up to Asia in rule-making.
Meanwhile, other coins that are in the green during the Asia trading day are TONCoin, up 9.7%. TON may have some momentum as the TON-themed ‘The Open Summit’, part of ABS 2024 in Taipei, wraps up Thursday.
At the same time, Trump-themed PoliFi coins are struggling as their namesake is challenged in what’s now a very competitive election. MAGA (TRUMP) is down 12.5%, or 44.5% on-month, while Solana’s TREMP is down 6% on-day and 43% on-month. Harris-themed KAMA is trading flat, and up over 160% in the last month.
Alstom, a global leader in smart and sustainable mobility, announces the commencement of revenue service for the elevated section of Hanoi Metro Line 3. Operated by Hanoi Metro Company (HMC), the new line is currently open for free public trial and will be officially inaugurated in September 2024.
The first phase of the project spans 8.5 kilometers and includes eight stations on the elevated section. Upon completion, the full line will extend to 12.5 kilometers, featuring 12 stations and improving access for 1.6 million residents across six districts of Hanoi. At full capacity, the metro system is expected to transport over 23,900 passengers per hour per direction.
In 2017, Alstom, leading a consortium with Colas Rail and Hitachi Rail, secured a contract to provide an integrated metro system for Hanoi Metro Line 3. Alstom’s responsibilities included supplying and integrating the metro system, which encompasses ten four-car Metropolis trains and the Urbalis 400 CBTC system, along with power supply and depot equipment in collaboration with Colas Rail. This project was supported by the French government, including the Ministry of Economy and Finance and Directorate General of the Treasury, the French Development Agency, the European Investment Bank, and the Asian Development Bank.
Nguyen Cao Minh, General Director of the Hanoi Metropolitan Railway Management Board (MRB), stated, “We aim to offer reliable, safe, and efficient transport solutions for Hanoi commuters. Our strategic partnership with Alstom has introduced a world-class metro system to enhance Hanoi’s transportation infrastructure.”
Toby Tiberghien, Managing Director, East Asia, Alstom, commented, “At Alstom, we are dedicated to transforming mobility in Vietnam with smarter, greener, and more efficient solutions for daily commuters. Our expertise in turnkey projects has been pivotal in delivering this complex metro project, which includes eight elevated and four underground stations. The commencement of Hanoi Line 3 operations underscores our commitment to meticulous planning and engineering, ensuring safe, efficient, and comfortable journeys for passengers in Hanoi. I am proud to see our iconic Metropolis™ thriving in this vibrant city. We extend our gratitude to H.E. Olivier Brochet, French Ambassador to Vietnam, and the French and Vietnamese authorities for their support.”
Hanoi’s second metro line
The Hanoi metro system prioritizes passenger needs. The four-car Metropolis trains for Line 3 feature wide doors for easy passenger flow, dedicated spaces for passengers with reduced mobility, and ergonomic handrails. The trains, made with lightweight aluminum car bodies, are energy-efficient and sustainable. The train designs draw inspiration from local Vietnamese culture, incorporating motifs such as dragon fruit and rice paddy fields for enhanced cultural relevance and aesthetic appeal.
The Hanoi metro is a testament to French industrial expertise, designed and manufactured in France for international markets. Six Alstom sites in France were involved: Valenciennes for design and manufacturing, Ornans for engines, Le Creusot for bogies, Tarbes for electrical cabinets and traction systems, Saint-Ouen for the Urbalis 400 signaling solution, and Villeurbanne for onboard computerized systems, passenger information, and signaling equipment.
Alstom’s Turnkey Expertise in Metro Systems
Alstom possesses a comprehensive portfolio of capabilities and technologies to build turnkey metro systems tailored to city requirements. Currently, 19 projects globally benefit from Alstom’s integrated metro solutions, ensuring rapid and cost-effective delivery. Alstom has delivered several high-profile metro systems worldwide, including in Panama, Mexico City, Lausanne, and Singapore.
Alstom’s Metropolis Metro Solutions
The new metros for Hanoi are part of Alstom’s renowned Metropolis metro solutions, designed to support urban transit for over 60 years. More than 80 customers worldwide operate metros manufactured by Alstom.
