Joining Hanoi and Ho Chi Minh City, Da Nang becomes the third Vietnamese destination to be scouted by the MICHELIN Guide Inspectors.
The restaurant selection for Hanoi, Ho Chi Minh City and Da Nang will be revealed in June, 2024.
Michelin is delighted to announce that the MICHELIN Guide has added the city of Da Nang to its gourmet destination portfolio. Consequently, Da Nang becomes the third Vietnamese city to see its gastronomic scene spotlighted by the MICHELIN Guide Inspectors, right after the ones of Hanoi and Ho Chi Minh City where the MICHELIN Guide debuted last year.
Gwendal Poullennec, International Director of the MICHELIN Guide, says: “We are absolutely delighted to continue the MICHELIN Guide’s journey in Vietnam. After a bright beginning earlier last year in Hanoi and Ho Chi Minh City, the addition of Da Nang to the MICHELIN Guide’s family is another proof of the vibrancy and quality of Vietnam’s culinary scene, as well as of the richness and authenticity of its local food culture. Our Inspectors are currently on the field to realize a restaurant selection we will be proud to share in June not only with local gourmets but also international food lovers and travelers”.
Globally known as an acclaimed touristic destination, Da Nang is also a true heaven for food lovers. As a proud ambassador of Central Vietnamese cuisine, Da Nang has impressed the MICHELIN Guide Inspectors with quality and variety of local specialties available to offer – be it Mì Quảng, Bún Chả Cá or famous Bánh Xèo. Seafood restaurants, all proposing an abundance of very fresh or live marine creatures, as well as street food delicacies are not to be missed, and the MICHELIN Inspectors have been taking pleasure sitting by the side of the road to enjoy culinary gems, such as a bowl of congee with braised duck.
In additions to these traditional specialties or eateries, Da Nang also offers a lively fine dining scene, shaped by both local chefs making the most of local produce, as well as international chefs, who have fallen in love with the city and brought to it their hometown tastes.
The extension of the MICHELIN Guide to Vietnam is supported by Sun Group whose Chairman, Mr. Dang Minh Truong shared, “Celebrating the culinary excellence of Vietnam’s central coast, Sun Group is thrilled to embark on this gastronomic journey with the arrival of the MICHELIN Guide in Da Nang. Just as we have been dedicated to showcasing Vietnam’s rich culture and beauty to the world, we are excited to see the spotlight shine on the exceptional dining experiences that this vibrant city has to offer. We are delighted that the unique flavors and culinary wonders of Da Nang will finally be celebrated by both local and international food enthusiasts. The MICHELIN Guide’s presence in Da Nang will be further expected to illuminate the city on the world tourism map, contributing to attracting international visitors to Da Nang.”
Like in all the destinations it covers, the MICHELIN Guide will recognize its Da Nang restaurant selection following its universal and historical methodology. Thus, local restaurants are being assessed anonymously, collectively and independently by the MICHELIN Guide Inspectors following 5 criteria, all of them focusing only on the quality of the food:
The quality of the ingredients
The mastery of cooking techniques
The harmony of flavors
The personality of the cuisine
The consistency both over time and through the menu as a whole.
The 2024 restaurant selection of the MICHELIN Guide Hanoi, Ho Chi Minh City, Danang will be announced during one single ceremony, to be hosted in Ho Chi Minh City in June 2024 (exact date to be communicated later).
Michelin’s ambition is to sustainably improve its customers’ mobility. The leader in the mobility sector, Michelin designs, manufactures, and distributes the tires best suited to their requirements and uses as well as services and solutions to improve transport efficacy. Michelin also puts forward offers that allow its customers to enjoy unique moments when traveling. Michelin also develops high-technology equipment intended for multiple fields. Based in Clermont-Ferrand, Michelin is present in 175 countries, employs 132,200 people and operates 67 tire factories that, together, produced approximately 167 million tires in 2022. (www.michelin.com).
Researchers will find comprehensive information on PT-141 peptides below. Bremelanotide, often referred to as PT-141, has been extensively studied in animal model research related to libido, particularly with a focus in menopause. Currently, scholars are conducting investigations of peptide exposure in male research models of sexual dysfunction, encompassing ailments such as erectile dysfunction and diminished sexual and reproductive behavior.
PT-141 Peptide: What is it?
PT-141 is a peptide derivative of α-Melanocyte-stimulating hormone (α-MSH), a naturally occurring melanotropin that may promote the production of melanin and regulate sexual activity. Studies suggest that the peptide may strongly attract melanocortin iii and iv receptors (MC3-R and MC4-R), which are extensively present in the brain and linked to reproductive and sexual action. Research indicates that PT-141 may operate distinctly compared to other approaches for erectile dysfunction via vasodilation to increase blood flow. In contrast, PT-141 has been hypothesized to directly transmit signals to the neural connections accountable for arousal in research models of both sexes.
PT-141 Peptide and PDE5
A study done in 2004 aimed to investigate the impact of PT-141 on research models of erectile dysfunction (ED) following exposure to a PDE5 inhibitor. A statistically significant erectile response was speculated in the research models upon exposure to PT-141, as reported by the researchers.
In 2006, Iranian researchers performed a study to evaluate the peptide’s potential in erectile dysfunction (ED) under the same PDE5 inhibitor non-response. According to the study, the experimental group in the study, exposed to PT-141, appeared to have exhibited a significant increase in sexual behavior in comparison to the control group.
PT-141 Peptide and Mood
Melanocortin peptides have been suggested to facilitate dopamine neurotransmission. A two-week investigation on mice indicated alterations in the binding of dopamine D(1)-like receptors in different regions of the rodents’ brains after the intracerebroventricular presentation of Melanotan 2, which served as the initial source for the development of PT-141.
The authors proposed that over time, giving a melanocortin receptor agonist might induce alterations in dopaminergic neurons. They also claimed that the regulatory effects of melanocortin peptides, such as PT-141, on central dopamine neurons may potentially lead to general elevation in mood balance.
PT-141 Peptide and Libido
PT-141 (Bremelanotide) has been studied in relation to libido in female research models, as previously stated. The findings of a 52-week clinical study examining the potential and effectiveness of Bremelanotide in 856 research models of hypoactive sexual desire disorder (HSDD) indicate that the exposure to PT-141 appeared to have resulted in enduring enhancements in symptoms of hypoactive sexual desire disorder.
Traditional research in this area has led to the development of selective phosphodiesterase type 5 inhibitors. It has been studied in cases of moderate to severe erectile dysfunction (ED), and research has also extended as far as diabetes mellitus. The mechanism of action appears to involve the targeted inhibition of cGMP-specific phosphodiesterase type 5 (PDE5), a hormone present in all types of blood vessels.
A study was conducted to examine the possible impact of selective phosphodiesterase type 5 inhibitors on spermatogenesis or reproductive hormones. Over six months, the researchers suggested that the daily exposure of the inhibitors did not appear to impact spermatogen levels.
PT-141 Peptide: Reliable Online Source
PT-141 may be acquired via internet platforms by licensed researchers and laboratory personnel for scientific endeavors. Although many peptide providers are available, not all possess the same level of quality. For instance, several suppliers prioritize the quality of peptides and subject all of their goods to rigorous quality and purity testing conducted by a third-party laboratory. However, some do not adhere to these criteria and instead distribute peptides of questionable quality. www.corepeptides.com has extensive knowledge of the research peptides community, enabling you to make informed decisions on suppliers to engage with and those to steer clear of.
[ii] Bremelanotide (Vyleesi) for hypoactive sexual desire disorder. Med Lett Drugs Ther. 2019 Jul 29;61(1577):114-116. PMID: 31381550.
[iii] Rosen RC, Diamond LE, Earle DC, Shadiack AM, Molinoff PB. Evaluation of the safety, pharmacokinetics and pharmacodynamic effects of subcutaneously administered PT-141, a melanocortin receptor agonist, in healthy male subjects and in patients with an inadequate response to Viagra. Int J Impot Res. 2004 Apr;16(2):135-42. doi: 10.1038/sj.ijir.3901200. PMID: 14999221.
[iv] Safarinejad MR, Hosseini SY. Salvage of sildenafil failures with bremelanotide: a randomized, double-blind, placebo controlled study. J Urol. 2008 Mar;179(3):1066-71. doi: 10.1016/j.juro.2007.10.063. Epub PMID: 18206919.
[v] Lindblom J, Kask A, Hägg E, Härmark L, Bergström L, Wikberg J. Chronic infusion of a melanocortin receptor agonist modulates dopamine receptor binding in the rat brain. Pharmacol Res. 2002 Feb;45(2):119-24. doi: 10.1006/phrs.2001.0913. PMID: 11846623.
[vi] Simon JA, Kingsberg SA, Portman D, Williams LA, Krop J, Jordan R, Lucas J, Clayton AH. Long-Term Safety and Efficacy of Bremelanotide for Hypoactive Sexual Desire Disorder. Obstet Gynecol. 2019 Nov;134(5):909-917. doi: 10.1097/AOG.0000000000003514. PMID: 31599847; PMCID: PMC6819023.
[vii] Haddad A, Jabbour M, Bulbul M. Phosphodiesterase type 5 inhibitors for treating erectile dysfunction and lower urinary tract symptoms secondary to benign prostatic hyperplasia: A comprehensive review. Arab J Urol. 2015 Sep;13(3):155-61. doi: 10.1016/j.aju.2015.06.004. Epub. PMID: 26413339; PMCID: PMC4563010.
In a prior piece discussing JPMorgan Chase & Co., the term “Morganization” was introduced, signifying a strategy aimed at fostering the Merger & Acquisition market by providing comprehensive consulting services and information for companies seeking M&A deals.
This trend underscores the increasing significance of entrepreneurship for the future prosperity of the US economy. Today, we delve into the historical backdrop of the M&A market, tracing its roots back to the pioneering efforts of tycoon John Davison Rockefeller Sr. (1839-1937), who established the first-ever trust fund – Standard Oil.
Our journey takes us to the 1850s, a period witnessing the emergence of the petroleum industry fueled by the discovery of refined petroleum’s utility for lamp oil. Subsequently, the industry experienced rapid expansion, with oil companies proliferating and oil wells springing up, particularly following significant discoveries in Pennsylvania and the Midwest. Post the Civil War (1861-1865), a novel business organization emerged in the form of trust funds, with John Davison Rockefeller Sr. founding the inaugural trust company, Standard Oil, in 1870. These trusts, structured to allow a third party or trustee to manage assets on behalf of beneficiaries, aimed at curbing competition.
By the late 1860s, Rockefeller Sr. had consolidated control over oil refining in Cleveland, Ohio, leveraging advantageous rail rates and strategic maneuvers that pushed competitors out of the market.
In 1870, amidst the formation of Standard Oil, kerosene was priced at $0.26/gallon. By 1872, Standard Oil commanded over a quarter of the industry’s total daily capacity. Yet, challenges loomed as the company grappled with resistance from refiners, competition from railways, and regulatory hurdles.
The completion of the Tidewater pipeline in 1879 spelled trouble for Standard Oil, escalating crude transportation costs and necessitating a restructuring of its operations. By 1880, the company managed to slash kerosene prices to $0.09/gallon.
In 1882, learning from the Tidewater debacle, Rockefeller Sr. initiated the Standard Oil Trust Agreement, establishing a centralized joint stock agency to oversee 40 subsidiaries. This maneuver birthed the Standard Oil Trust, enabling the circumvention of state laws and the consolidation of control over subsidiaries, with headquarters relocating to New York.
The late 19th century witnessed the ascendancy of corporate behemoths dominating the American economy and dictating product prices, prompting public outcry against trusts and monopolies, and clamors for regulatory intervention. In 1890, amidst plummeting kerosene prices ($0.07/gallon), Standard Oil’s dominance persisted, facilitated by competitive advantages, vertical integration, relentless innovation, and strategic M&A maneuvers, capturing over 90% of the oil refining market share for over two decades.
Recognizing the pivotal role of oil in American life, Rockefeller Sr. wielded his influence to dictate oil prices, prompting public outrage. In response, President Benjamin Harrison (1833–1901) passed the Sherman Antitrust Act in 1890, aimed at curbing trusts, monopolies, and oligopolies, promoting fair competition, and regulating interstate commerce.
During President Theodore “Teddy” Roosevelt Jr.’s tenure, dubbed the era of “Breaking Trust,” stringent enforcement of the Sherman Act ensued, marked by over 40 lawsuits targeting monopolies and self-serving trusts. While Roosevelt acknowledged the potential benefits of trusts, he advocated for their regulation, although federal licensing and regulatory proposals faced congressional opposition.
On May 15, 1911, the government ordered the breakup of Standard Oil into 34 smaller entities, marking a historic milestone as the first trust company subjected to dissolution. Today’s prominent oil companies, including BP, Chevron, ExxonMobil, Marathon, Shell Plc, and ConocoPhillips, trace their origins back to Standard Oil. Notably, Saudi Aramco, initially associated with the Kingdom of Saudi Arabia (KSA), originated from Standard Oil’s California branch, which entered into a joint venture agreement and concession pact with KSA in 1933 before being fully repurchased in 1980.
In 1914, drawing insights from the Standard Oil case, President Thomas Woodrow Wilson (1856-1924), nicknamed “Professor Federalism,” established the Federal Trade Commission (FTC) to counteract unlawful practices like fraud and deception. Building on the Sherman Act’s provisions against anticompetitive and monopolistic behaviors, Wilson enacted the Clayton Act, championed by Alabama Congressman Henry D. Clayton Jr. (1857-1929), which addressed specific concerns such as price discrimination, contractual obligations, and interlocking directorates. Moreover, the Clayton Act safeguarded workers’ rights, shielding them from employer-led legal challenges.
Left to right: President Thomas Woodrow Wilson and President Theodore “Teddy” Roosevelt Jr.
Rockefeller Sr. spearheaded the evolution of the trust fund model and spurred Congress to pass the Sherman Act to curb monopolistic tendencies. Reflecting on the M&A industry’s historical trajectory, the period spanning 1895 to 1904 witnessed a surge in horizontal mergers as businesses aimed to fortify their market positions in response to surplus capacity from prior economic downturns. As detailed in previous discussions, figures like J.P. Morgan played pivotal roles in the formation of General Electric in 1892, as well as the establishment of U.S. Steel and DuPont toward the end of the Gilded Age. Subsequently, heightened governmental oversight and regulation ensued to safeguard fair competition and forestall monopolistic consolidation.
Standard Oil organization chart since 1911
Between 1925 and 1929, corporations pursued a vertical merger strategy, extending their influence from upstream suppliers to downstream distributors, consolidating dominance across sectors like finance, steel, automotive, rail, utilities, and consumer goods. The era was characterized by speculative fervor, spurred by inexpensive stocks with P/E ratios below five, propelled by robust industrial growth and emerging technologies such as radio and electricity. Cultural phenomena like Jazz and the allure of the Gatsby era further buoyed optimism. However, widespread stock market speculation, facilitated by margin trading and negligible interest rates, culminated in the market frenzy of the 1920s, led in part by figures like J.P. Morgan. This era of exuberant consolidation came to an abrupt halt with the onset of the Great Depression, marking the end of an era characterized by rampant consolidation and redundancy.
Post-Depression, the enactment of the Robinson-Patman Anti-Price Discrimination Act of 1936 aimed to curb price discrimination by prohibiting sellers from charging varying prices to different buyers for the same product. In 1950, the Celler-Kefauver Anti-Merger Act expanded restrictions on M&A activities aimed at stifling competition and fostering monopolistic control through asset and share acquisitions. Concurrently, economist Orris C. Herfindahl refined the concept of quantifying market concentration initially proposed by German economist Albert O. Hirschman. This refinement gave rise to the widely utilized Herfindahl-Hirschman Index (HHI), employed by entities like the Department of Justice (DOJ) and FTC to gauge market concentration levels. See the accompanying image for an interpretation table of the HHI.
Between 1965 and 1970, businesses found ways to navigate legal constraints by diversifying their investments, giving rise to a new corporate model known as the conglomerate. Over the preceding five years, M&A activities gained traction as a means to diversify business operations and mitigate risks posed by antitrust regulations. The 1960s were marked by robust economic growth and optimism, evidenced by surging stock prices and heightened investor confidence. Among the prominent players during this era was ITT Inc., which expanded its reach by acquiring multiple telecommunications, electronics, and aerospace firms, capitalizing on economies of scale, cross-selling opportunities, and risk mitigation. This trend prompted management and regulatory agencies to remain vigilant against emerging forms of monopolies.
In 1976, Congress passed the Hart-Scott-Rodino Antitrust Improvements Act, mandating that companies embarking on significant M&A endeavors notify the FTC and DOJ beforehand, considering potential antitrust implications.
From 1984 to 1989, the corporate landscape witnessed widespread financial activity through hostile takeovers and debt-financed transactions, particularly leveraged buyouts (LBOs). Deregulation, financial innovation, and favorable economic conditions fueled a bustling M&A market. Hostile takeovers gained prominence as aggressive firms sought to acquire undervalued entities, often bypassing management resistance by directly engaging shareholders. A notable instance was the monumental $25 billion LBO orchestrated by Kohlberg Kravis Roberts (KKR) against RJR Nabisco in 1988, later immortalized in the movie “Barbarians at the Gate.” Additionally, Wall Street witnessed the advent of high-yield “junk” bonds championed by Michael Robert Milken to finance LBOs amid declining macroeconomic interest rates and a bullish stock market. However, escalating debt levels led to widespread restructuring and layoffs, prompting a reevaluation of corporate practices to foster sustainable development.
Left to right: Rockefeller, 33 years old, Founder at Standard Oil; Rockefeller 75 years old, and Rockefeller 83 years old
From 1994 to 2000, the business landscape underwent a transformative “paradigm shift,” marked by strategic and game-changing M&A transactions that reshaped entire industries. Notably, the $164 billion merger between AOL and Time Warner Cable in 2000 epitomized this trend, catalyzing advancements in media and the internet, revolutionizing content production, distribution, and consumption. Rapid advancements in information technology, coupled with globalization, dismantled trade and investment barriers, fostering cross-border collaboration and creating opportunities for emerging technology firms to participate in the M&A arena. While this era witnessed speculative excitement and the subsequent burst of the dot-com bubble in the early 2000s, it laid the groundwork for the digital revolution and reshaped the global economy in the years to come.
From 2004 to 2008, globalization propelled the world economy forward, driven by advancements in technology, communication, and trade liberalization. If the 1960s heralded the emergence of the corporate model, this era witnessed the rise of multinational corporations expanding their operations across borders, capitalizing on emerging markets and leveraging global supply chains to foster economic growth and efficiency. Regulatory bodies such as the DOJ and FTC collaborated with international antitrust agencies like the European Commission and the Japan Fair Trade Commission to address anti-competitive practices on a global scale. Concurrently, the Federal Reserve (Fed) adopted accommodative monetary policies, including a zero-interest-rate policy and the infusion of liquidity into financial markets, fueling a credit bubble. Financial institutions expanded subprime mortgage lending, contributing to unsustainable debt levels and speculative frenzy in the real estate market. Amidst this backdrop, leveraged buyout (LBO) activities surged, with private equity funds capitalizing on cheap financing to acquire and restructure companies for short-term gains. Notably, the acquisition of TXU Corp by KKR, Texas Pacific Group, and Goldman Sachs for $45 billion in 2007 exemplified this trend. However, the euphoria came crashing down with the onset of the global Great Recession in December 2007, triggered by the collapse of the subprime mortgage market and the unraveling of collateralized debt obligations. The recession laid bare the fragility of the financial system, leading to bank failures, a precipitous decline in stock markets, and widespread unemployment. While this period was marked by prosperity and excess, it prompted a critical reevaluation as the global economy grappled with the aftermath of unsustainable debt and financial instability.
Between 2014 and 2022, the global economy underwent a phase of capacity rationalization and strategic consolidation across diverse industries. Companies streamlined their operations, enhancing efficiency and production capacity to adapt to market dynamics and competitive pressures. This period witnessed a flurry of strategic M&A deals aimed at scaling up and bolstering competitiveness. Post-Great Recession, the Fed pursued accommodative monetary policies to spur economic recovery, fueling a surge in M&A activity, particularly in the technology, healthcare, and consumer goods sectors. In 2023, Microsoft’s acquisition of Activision Blizzard raised antitrust concerns, highlighting the need for stringent regulatory oversight to ensure fair competition, especially given Microsoft’s dominant position in the gaming industry through its Xbox platform and game services. While the technology sector thrives, heightened government scrutiny necessitates vigilance among large enterprises to avoid inadvertent violations.
The M&A market boasts a storied history, fraught with challenges and unintended consequences. Regulatory agencies must enhance legal frameworks to govern consolidation practices and uphold ethical standards to prevent the unchecked consolidation of market power. Frontier and developing markets stand to benefit from this model by bolstering legal certainty and fostering sustainable economic development in the future.
Central Vietnam’s prominence as a distinguished golfing destination was recently confirmed when Ba Na Hills Golf Club received the “Golf Course of the Year in Vietnam” accolade at the International Association of Golf Tour Operators (IAGTO) Awards.
The region boasts courses crafted by golfing greats like Luke Donald at Ba Na Hills Golf Club, Sir Nick Faldo at Laguna Golf Lang Co, and Colin Montgomerie at Montgomerie Links, making it one of Asia’s most sought-after golfing locales.
At the 2024 IAGTO Awards in Abu Dhabi, Ba Na Hills Golf Club’s reputation shone brightly as it garnered another prestigious honor.
Gary Dixon, General Manager of Ba Na Hills Golf Club, expressed pride in the recognition, stating, “Being named ‘Golf Course of the Year in Vietnam’ not only celebrates our club’s accomplishments but also shines a spotlight on the Vietnam Golf Coast, affirming Central Vietnam’s position as a leading golf tourism hub in Asia.”
Central Vietnam is celebrated for its dynamic urban areas, stunning beaches, luxurious hotels, and robust infrastructure, earning it the title of the most comprehensive golf destination in Asia—a sentiment echoed by numerous awards received by its clubs.
Laguna Golf Lang Co and Ba Na Hills Golf Club, key components of the Vietnam Golf Coast (VGC)—a marketing consortium that promotes Central Vietnam’s premier golf courses—were recognized among Asia’s top 11 golf resorts last year.
These clubs stood out on Golf.com’s leaderboard, a prominent golf publication that ranks elite golf destinations across Korea, China, Thailand, and Indonesia. Their high ranking in Asia also secured them a place in the global Top 100 Golf Resorts.
Stephen Banks, Director of Golf at Laguna Lang Co, highlighted Vietnam’s glowing reputation as a golfing paradise, asserting that the central cluster of courses is the nation’s crowning glory. He noted the diverse golfing experiences available, from coastal play to mountainous backdrops.
In 2023, Central Vietnam’s golf courses experienced unprecedented activity, with a record-breaking number of rounds played.
Looking ahead, the VGC’s leading courses—Montgomerie Links, Ba Na Hills Golf Club, and Laguna Golf Lang Co—are vying for further honors, each nominated for “Vietnam’s Best Course” at the 2024 World Golf Awards.
Le Vo Hoang Van, club manager at Montgomerie Links, remarked on the collective success, emphasizing the global recognition of Central Vietnam’s courses. He invited golfers worldwide to experience the variety and decide on their preferred course.
As April draws to a close and May begins, Vietnam gears up for a spectacular showcase of culture, history, and festivity. The end of April and the beginning of May mark a series of national holidays that offer locals and visitors alike a chance to immerse themselves in the vibrant tapestry of Vietnamese traditions.
Here’s everything you need to know about this exciting period and some advice for foreigners planning to visit during these celebrations.
Key Dates:
Hung Kings Commemoration Day: April 18, 2024
Reunification Day: April 30, 2024
International Labor Day: May 1, 2024
These holidays hold deep significance in Vietnamese culture. Hung Kings Commemoration Day honors the traditional founders of the nation, while Reunification Day marks the historic moment when North and South Vietnam were reunified. International Labor Day celebrates the rights and achievements of workers, acknowledging their contributions to the nation’s development.
Travel Tips for Foreigners:
Foreign tourist traveling in Hanoi by Cyclos
1.Visa and Entry: Ensure your visa arrangements are in order before traveling. Vietnam offers electronic visas and visas on arrival for many nationalities, providing a convenient option for travelers.
2.Accommodation: Book your stay well in advance, as hotels and guesthouses can fill up quickly during this peak travel period.
3.Transportation: Public transport can be crowded, and services may be limited. Consider booking private transport or flights early to avoid inconvenience.
4.Cultural Etiquette: Respect local customs and traditions. Participate in the festivities with an open heart, but also give space to locals during their important rituals.
5.Health and Safety: Stay updated on vaccinations and carry necessary medications. Be cautious with food and water, and always have travel insurance for peace of mind.
Experiencing the Festivities:
Cultural Events: Witness colorful parades, traditional performances, and ceremonial offerings that bring the history of Vietnam to life.
Cuisine: Savor the holiday specialties, from banh chung (rice cake) to various regional delicacies that are part of the celebration.
Shopping: Markets and shops may offer sales during this time. It’s a great opportunity to purchase souvenirs and gifts.
For a Memorable Visit:
Embrace the local pace of life and join in the communal spirit.
Learn a few phrases in Vietnamese to connect better with the locals.
Keep a digital copy of your identity and travel documents for safety.
Vietnam’s national holidays are a window into the soul of the country. For foreigners, it’s a unique chance to experience the warmth and richness of Vietnamese culture. Plan ahead, stay informed, and most importantly, enjoy the festivities!
Whether you’re captivated by historical reenactments, tantalized by culinary delights, or simply eager to immerse yourself in the joyful atmosphere, Vietnam’s holiday season promises an unforgettable experience for all who partake.
Hong Kong’s regulators have sped up the approval process, according to a Reuters report.
Hong Kong regulators are likely to approve the first set of applications for spot bitcoin exchange-traded funds (ETF) next week, making it possible that the products could be ready to start trading in April, Reuters reported, citing two people familiar with the matter.
Australia and Hong Kong are the two jurisdictions that could become the first in Asia to offer spot bitcoin ETFs, with Singapore and the UAE not reflecting immediacy just yet.
Hong Kong’s regulators have sped up the approval process, Reuters said, citing one of the people.
Harvest Global Investments, a major asset-management company in China, and asset manager VSFG, together with its partner, Value Partners, have applied to the Securities and Futures Commission (SFC) for a spot ETF, CoinDesk has reported.
The Reuters report said four entities have submitted applications to launch the spot bitcoin ETFs. It named three of them as the Hong Kong units of China Asset Management, Harvest Fund Management and Bosera Asset Management.
While 40% of respondents to the German bank’s survey said bitcoin will thrive in the coming years, 38% said they expect the cryptocurrency to disappear.
Retail investors became more positive about cryptocurrencies during the first quarter, according to a March survey by German lender Deutsche Bank (DB).
“Consumers have become more positive on crypto in Q1 2024, with less than 1% thinking they are a fad,” the April report said.
The data is hardly surprising given the strong rally in crypto markets in that period that was fueled by the January approval of spot bitcoin (BTC) exchange-traded funds (ETFs).
Nevertheless, the survey showed that retail investors are not overly optimistic about the outlook for the world’s largest cryptocurrency, with only 10% of people saying they expect it to exceed $75,000 by year-end. Bitcoin was trading over 2% lower over 24 hours at around $69,000 at publication time.
Just under one-third of those surveyed said they expected the bitcoin price to tumble below $20,000 by the end of 2024 and over 50% of respondents said they were worried about another major cryptocurrency collapsing in the next two years.
As many as 40% said they expected bitcoin to thrive in the coming years, while almost as many – 38% – said they expected the digital asset to disappear.
“78% of U.S. consumers see cryptocurrencies as a form of commodities, 76% as alternative assets, and 74% a store of value. 65% see it as replacing cash,” the report said, adding that 52% see cryptocurrencies as an “important asset class and method of payment.”
In recent years, Vietnam has emerged as a leading destination for European Union (EU) investors looking to outsource their operations.
This Southeast Asian nation has carved out a niche for itself in the global market, attracting significant foreign investment and multinational companies. But what makes Vietnam so appealing to EU investors?
Let’s delve into the key factors driving this trend with Vietnam Insider.
Economic Resilience and Growth
Vietnam’s economy has demonstrated remarkable resilience, maintaining steady growth even amidst global economic uncertainties. With a projected GDP growth of around 5.5%, Vietnam stands out as a beacon of economic stability. This robust performance has not gone unnoticed by EU firms seeking a reliable and burgeoning market.
Cost Competitiveness
As labor costs in traditional outsourcing powerhouses like China continue to rise, Vietnam offers a cost-effective alternative without compromising on quality. The country’s competitive wage structure is a significant draw for investors looking to optimize their production costs.
Geopolitical Advantage
Amidst heightened geopolitical tensions and trade uncertainties, EU investors are diversifying their risks by shifting their focus away from China. Vietnam, with its stable political environment and strategic location, presents itself as a viable and less contentious alternative.
Government Incentives
The Vietnamese government has been proactive in creating an investor-friendly climate. With ambitious economic development goals and policies that encourage foreign investment, Vietnam is committed to fostering a conducive environment for business growth, according to Sophie Dao, Senior Partner at Global Business Services LLC (GBS), a legal and business consulting agency in Vietnam.
Strategic Trade Agreements
Vietnam’s participation in new free trade agreements with the EU and other global partners has significantly enhanced its attractiveness for foreign direct investment. These agreements have opened up new opportunities for trade and investment, further integrating Vietnam into the global economy.
A Young and Dynamic Workforce
With a large, young, and educated workforce, Vietnam offers a pool of talent that is both skilled and adaptable. The country’s human capital is a critical asset, providing the necessary manpower to support a wide range of outsourcing activities.
Vietnam’s combination of economic dynamism, cost efficiency, geopolitical stability, supportive government policies, strategic trade partnerships, and a vibrant workforce makes it an outsourcing hotspot for EU investors. As Vietnam continues to grow and develop, it is poised to play an even more significant role in the global outsourcing landscape.
Ho Chi Minh City is taking decisive action to curb the persistent issue of vehicles traveling in the wrong direction and encroaching on sidewalks at central intersections. Despite being located in the heart of the city, instances of this dangerous behavior remain prevalent, causing frustration among commuters during peak hours. To address this concern, the Ho Chi Minh City Traffic Police have implemented various penalty measures.
At key intersections like Hai Ba Trung – Vo Thi Sau and Truong Dinh – Nguyen Thi Minh Khai, numerous cases of motorbikes flouting traffic regulations by driving against the flow and encroaching on lanes have been observed. Many commuters, driven by the fear of being late, ignore traffic signs and resort to risky maneuvers, further worsening the problem.
To tackle this issue head-on, authorities have installed cameras along these roads to capture footage of violating vehicles. This recorded evidence serves as a crucial legal basis for enforcing penalties against speed violations, running red lights, and other breaches of traffic safety regulations.
The phenomenon of vehicles following each other in the wrong direction not only constitutes a serious traffic offense but also tarnishes the image of the city’s traffic culture. Through rigorous enforcement and the use of surveillance technology, Ho Chi Minh City aims to promote safer and more orderly traffic conditions in its central areas.
Prudential Vietnam Life Insurance LLC (referred to as “Prudential”) and the Vinmec Healthcare System (referred to as “Vinmec”) solidified a strategic cooperation agreement. This partnership is geared towards implementing initiatives that will provide exceptional products, services, and tangible benefits to life insurance policy holders.
Following the signing, Prudential and Vinmec have now formed an agreement to provide Prudential’s valued customers with special deals and specialized healthcare benefits. Furthermore, in their commitment to enhancing benefits for insured clients, both entities have jointly agreed to:
Prioritize collaboration and implementation of Loyalty (VIP) programs, applying exclusive health check-up package for Prudential’s VIP customers.
Cooperate in developing tailored health examination packages designed for individuals based on their health status and insurance product needs.
Prudential and Vinmec will also coordinate to develop and deploy cooperative programs, events, and seminars to create quality products, services, and practical benefits for customers. This will enhance the capabilities and leverage the strengths of each party in developing health care packages tailored to the needs of each customer providing a diverse range of useful general medical knowledge to Agents, Customers, and Employees of Prudential Vietnam.
Vinmec continues to be an important partner in the network of medical facilities providing hospital fee guarantee services for Prudential’s customers. The strategic cooperation agreement between Prudential and Vinmec demonstrates the strong commitment of both entities to actualize the principle of “Customer Centricity,” providing priority and superior healthcare services throughout their joint journey.
Speaking at the signing ceremony, Ms. Nguyen Thanh Ha, Chief Operations Officer at Prudential Vietnam, emphasized: “With the ambition to enhance the Customer Experience, we believe that our value extends beyond compensation payments to becoming a trusted partner in our customers’ healthcare journey.”
“This ambition requires us to bravely implement significant changes, from upgrading the core value of products, standardizing the distribution force, providing more advanced products and value-added services, driving digital transformation, and automating processes from contract issuance to claims handling. Throughout this transformation, the network of healthcare partner facilities plays a pivotal role in the entire customer journey.
Prudential and Vinmec have had certain collaborations in the recent past. We see this as the opportune moment to consolidate and expand long-term cooperation between both parties to ensure that clients fully enjoy care and experience with the highest international standards. Our joint commitment ensures that clients fully enjoy care and experience aligned with the highest international standards.”
Sharing at the ceremony, Mr. Nguyen Huy Ngoc, Deputy Chief Executive Officer at Vinmec Healthcare System, stated: “Vinmec consistently prioritizes “Customer-Centricity” and actively seeks cooperation with partners who share this vision. We deeply value Prudential’s pioneering role in creating sustainable health protection solutions. Through our strategic collaboration, Vinmec and Prudential are committed to providing specialized, personalized healthcare benefits to clients, with the ultimate goal of enhancing the quality of life for the Vietnamese population.”
While originating from China, Vietnam’s Cold Food Festival carries its distinctive customs. It’s a time for Vietnamese people to reconnect with their heritage and honor the kindness of their ancestors.
On the third day of the third lunar month, families prepare bánh trôi and bánh chay to pay respects to grandparents and ancestors, disregarding fire restrictions. In many regions, these delicacies are also offered to the emperor, symbolizing a deep reverence for ancestry. This occasion serves as a reunion for families, who come together to visit graves, share meals, and strengthen familial bonds.
Bánh chay is made from glutinous rice flour with pureed green beans inside and served with cool tapioca starch water.Bánh trôi is filled with sugar inside, sweet and fragrant with sesame sprinkled on top.
As the weather warms in the third lunar month, heralding the arrival of summer, the refreshing coolness of bánh trôi and bánh chay provides a welcome respite. These sweet treats, made from traditional sticky rice, offer a delightful contrast to the heat of the season.
The filling inside each rice ball can be green beans, brown sugar and black sesame.
While traditional bánh trôi and bánh chay hold a special place in Vietnamese culture, modern variations have introduced vibrant colors and innovative shapes while preserving the essence of the original recipe. Despite these creative adaptations, the soul of these rice balls remains rooted in tradition, crafted from fragrant sticky rice flour—a testament to the enduring spirit of wet rice culture.
Traditional bánh trôi, through the creativity of the makers, have been transformed into extremely eye-catching shapes and colors.
Bánh trôi and bánh chay serve not only as culinary delights but also as symbols of reverence and gratitude, representing the diligence of past generations and the deep cultural heritage of Vietnam.
Countries have varying definitions and categorizations for stablecoins that may pose a risk to financial stability, the report by the Financial Stability Institute said.
Countries need to make their regulatory frameworks for stablecoins consistent with one another, the Financial Stability Institute (FSI) warned in a report published Tuesday.
The FSI, jointly created by the Bank for International Settlements and the Basel Committee on Banking Supervision, is tasked with assisting regulators worldwide in strengthening their financial systems. The institute’s report on policy implementation insights for stablecoins – which refers to cryptocurrencies whose value is pegged to other assets such as sovereign currencies – warns of the dangers of fragmentation in supervision across the world.
“Stablecoins may still be unregulated or lightly regulated in other jurisdictions,” said the report, authored by FSI Deputy Chair Juan Carlos Crisanto and Senior Advisors Johannes Ehrentraud and Denise Garcia Ocampo.
The authors argued that while many regulatory approaches have similarities when it comes to key requirements, the differences are largely driven by the variety of stablecoin design features and perceived risks. The report warned that this fragmentation in approaches to supervision could pose challenges to an integrated financial system and threaten financial stability.
Nations around the world have been exploring how to regulate stablecoins for several years. The U.K., for instance, passed legislation to recognize stablecoins as a means of payment in 2023, while the European Union passed the landmark Markets in Crypto Assets regulation (MiCA) to supervise issuers and service providers handling stablecoins. Japan too has started regulating stablecoins, while the U.S. is considering a stablecoin bill.
The FSI report says jurisdictions have varying definitions and categorizations for stablecoins that may pose a risk to financial stability. There are also discrepancies in requirements for the disclosure of reserve assets kept by stablecoin issuers to maintain the crypto’s value against its reference currency.
“A consistent regulatory framework, as well as its global implementation, is essential to address stablecoins’ risks, prevent regulatory arbitrage and ensure a level playing field in the digital asset ecosystem,” the FSI report said.
Ensuring the interoperability of stablecoins with central bank digital currencies (CBDC) and other digital assets would also be key to promoting an integrated financial system, the report added.
Global organizations such as the International Monetary Fund (IMF) and Financial Stability Board (FSB) have issued or are working on universal norms for stablecoins.
Whether it’s a bothersome squeak, a sticky door, or a faulty handle, there are many indicators your garage may require repair. Aside from being annoying, it can cause inconvenience should you rely on your garage door to enter and exit your building.
Additionally, if you store items such as equipment and sports gear in your garage, not having access to these items as and when you please can cull productivity.
In this article, we detail seven indicators to watch out for, all of which signal your garage door may need to be repaired. Read on to discover more.
Delayed Response
Modern-day garage doors function via sensors, springs, pulleys, or tracks. When these mechanisms run smoothly, they’re an asset to those entering and exiting their garage. When they’re faulty, they can cause all sorts of problems, ranging from slower operating times to stalls. In certain scenarios, all that is required to fix this issue is an adjustment in speed settings or lubrication.
If the issue is more pressing, you may need to request the assistance of a professional to action the garage door repair Tustin CA. They will be able to establish the fault and provide a quick fix, including a quote for doing so.
Broken Hinges
If your garage door appears to be off its tracks or misaligned, it’s likely the tension springs or cables are damaged. This can cause both delays and stalling when attempting to operate the device. Broken hinges enable more flex, which can cause panels to move and stop pivoting. As a result, your panels can break. This causes roller issues and uneven motion. This leads to rollers tilting and dragging due to the stem of the roller becoming offset.
In this scenario, a repair is often too complicated to administer yourself. This is when professional help should be requested.
Garage Door Is Refusing To Open Or Close
Finding the root cause of a stuck garage door can prove challenging. There are many reasons this could be happening. Some are easy fixes. Others are more complicated. Some causes include an inactive power source, something blocking the door, a locked door, loose or snapped cables, or a garage door that has come off its tracks.
Your Garage Door Refuses To Open Manually
If your door’s release is disengaged, yet your garage door refuses to open, this could be down to a malfunction in your garage door’s power source. Contemporary doors often boast a bypass switch, which rectifies this problem. This allows you to open the door manually via an overhead lift.
Typically, when pulled, this should disengage the automated trolley to allow for manual lifting. If this doesn’t solve the problem, you’ll need to invest in the services of an expert to administer a repair.
Your Garage Door Only Closes Half Way
This issue is just as frustrating as when your garage door won’t open. This is especially the case if you have items in your garage you need to safeguard. This may affect your home contents insurance. In addition, if you live in an area renowned for poor weather, your items may become damaged. The main cause? Your garage door distance setting is off. Before doing anything, check whether the setting is too high.
Another reason this may be happening? Your garage door’s photo eye safety sensors are misaligned. This can cause your door to switch directions. If these quick fixes don’t work, call a professional. It’s likely your track, springs, or cables are damaged.
Trackers Are Off
This is a problem that needs to be immediately resolved. It can prove dangerous, causing injury to family members or damage to vehicles. Why? Your garage door could fall off its hinges entirely! This is particularly the case if the rollers or cables are damaged. If trackers are misbehaving, stop using your garage door immediately and get it fixed!
Automatic Opener Has Stopped Working
Automatic garage door openers are snazzy, convenient tools, enjoyed by those who wish to remain in their vehicles when entering and exiting. This is until they cease working. On average, a door will open and close three to five times per day. This equates to 1,500 times annually. When unable to open your door, this can cause a huge inconvenience, especially if you have a meeting to attend.
Two things to check before seeking help? A gear motor that has stopped working or a dead battery. Instead of trying to fix this issue yourself and damaging the warranty, speak to the manufacturer or hire the services of a specialist.
The Bottom Line
A faulty garage door needs to be assessed sooner rather than later, especially if you use your garage as a point of access regularly. Similarly, if you use your door to store valuable belongings, this is a fix you will want to administer quickly and efficiently to avoid weather-related damage or theft.
In certain scenarios, you may be able to fix the problem yourself. If not, always enlist the help of a professional. Trying and failing to fix any issues single-handedly may result in you affecting your warranty. Worse still, you could become injured.
The tool has made over $5 million since going live in early March, with thousands of tokens issued daily.
Selling shovels in a gold rush was one of the surest ways to make profits, and it’s no different today in the digital asset world.
Pump, a meme coin generator platform, has earned over $5 million in fees since going live in March amid an ongoing meme coin frenzy on Solana, making it one of the biggest revenue-generating applications in a relatively short period.
The platform made $300,000 in the past 24 hours alone on Solana, data shows, contributing a significant chunk to the network’s total generated fees of $2.5 million. Annual revenue projections based on current usage and growth are about $66 million, DefiLlama data shows.
Pump lets anyone issue a token for $2 in capital, after which they choose the number of tokens, theme, and meme picture to accompany it. When the market capitalization of any token reaches $69,000, a portion of liquidity is deposited to the Solana-based exchange Raydium and burned. Last week, the platform also extended support to the Blast and Base networks.
The draw for traders is a supposed inbuilt safety mechanism: “Rug pulls,” a common crypto scam that sees token issuers drain liquidity, aren’t possible on Pump-issued tokens.
“Pump prevents rugs by making sure that all created tokens are safe. Each coin on Pump is a fair launch with no pre-sale and no team allocation,” its site says.
The ease of usage means new tokens are created nearly every other second. CoinDesk calculated a total of 35 issuances in a one-minute period in Asian morning hours on Tuesday, although this figure is likely to wildly change based on timezones and interest in new types of memes.
While there are likely tens of thousands of tokens that have been released on Pump since its March launch, only a few have reached market capitalizations of more than $10 million.
The largest tokens so far are Shark Cat (SC), a cat wearing a shark cap, and Hobbes, named after the cat of popular Solana trader Ansem, with valuations of $100 million and $35 million, respectively.
Cat memes are a popular draw for issuers, although popular Pump tokens range from a can of Arizona Iced Tea and Lord of the Rings character Gandalf to a pixelated image of a rubber duck.
India’s bustling metropolis, New Delhi, has been crowned the most economical travel hotspot globally this year, with Hanoi trailing closely behind, according to a survey by the British platform Wethrift.
The survey meticulously evaluated the world’s sought-after travel locales on multiple criteria, including the volume of direct flights, the expense of tourist hotspots, the cost-effectiveness of public transit, and the affordability of dining and lodging for duos over the weekend, to ascertain the destinations that deliver the most bang for your buck.
In Hanoi, the capital of Vietnam, public transportation fares are remarkably low, starting at just £0.23 (US$0.29). Dining out is equally wallet-friendly, with an average meal costing approximately £1.71, and a beverage priced at a modest £0.83.
For those planning a weekend getaway, the average cost for a couple’s overnight stay is £32.42, and tickets to various attractions total around £45.
Currently, Hanoi boasts 61 direct flight connections, which is less than half of New Delhi’s impressive tally of 145.
The survey also highlighted other value destinations, with Cairo in Egypt securing the third spot, followed by Istanbul in Turkey and Hurghada, also in Egypt. Rounding out the list are the tropical paradise of Bali in Indonesia, the vibrant city of Bangkok in Thailand, the historic Marrakech in Morocco, the serene Phuket in Thailand, and the lively Rio de Janeiro in Brazil.
Additional Insights on Hanoi as a Travel Destination:
Hanoi, known for its peaceful and historical ambiance, is not just about affordability; it’s a city where old-world charm meets the hustle and bustle of modern life. The city provides a comprehensive tourist map that includes popular destinations and practical information such as dining and shopping locations. Hanoi’s public transportation network is extensive, with over 100 bus routes connecting the city and its neighboring provinces. For a unique experience, visitors can try the Metro system, which offers a different perspective of the city from above.
Latest Travel Surveys and Reports:
Recent travel research reports have shed light on emerging trends and factors driving the growth of the travel industry. Generative AI’s impact on travel and online booking trends during the pandemic are among the topics that have been explored, providing valuable insights for travelers and industry professionals alike.
