Reviving the legacy: Chu Dau Pottery embodies Vietnamese culture

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Nestled along the banks of the Thai Binh River, Chu Dau village in Hai Duong province was once a thriving hub of high-end ceramics in Vietnam. Dating back to the 13th – 14th centuries, its pottery flourished during the 15th – 16th centuries before fading into obscurity due to historical upheavals.

Chu Dau ceramic vase in Topkapi Saray Museum in Türkiye. Photo: Topkapi Saray Museum (Istanbul)

Rediscovery struck in an unexpected way when an official from the Japanese Embassy stumbled upon a vase adorned with lotus flowers and chrysanthemums at the Takapisaray Museum in Türkiye. On the ancient vase, there are 13 Chinese characters inscribed “大 和 八 年 匠 人 南 策 州 裴 氏 戲 筆”, meaning “Painted for pleasure by Bui Thi, a craftsperson of Nam Sach Phu in the 8th year of Ta Ho (A.D. 1450)”. This chance encounter sparked a quest to uncover Chu Dau’s lost artistry

Archaeological excavations unearthed tens of thousands of artifacts, revealing a once-vibrant industry. Chu Dau ceramics were even found in sunken ships off the coasts of the Philippines and Vietnam, attesting to their global reach.

With concerted efforts from scholars, authorities, businesses, and artisans, Chu Dau pottery has experienced a revival in its hometown. Utilizing a unique rice husk ash glaze, artisans craft ceramics with remarkable durability and distinctive crackle patterns.

Ceramic products are created by the meticulous hands of artisans. Photo: Chu Dau Pottery

Beyond their resilience, Chu Dau ceramics bear motifs steeped in Vietnamese cultural identity. Artisans meticulously restore ancient patterns, employing traditional underglaze painting techniques to ensure each piece is a testament to the nation’s heritage.

From traditional vases to spiritual objects and household items, Chu Dau ceramics exude elegance and sophistication. Intricately gilded with gold accents, these treasures embody the five elements, blending tradition with luxury.

Mr. Nguyen Huu Thuc, General Director of Chu Dau Ceramic Joint Stock Company, emphasizes the importance of blending tradition with modernity. Chu Dau Potters cater to evolving consumer tastes by innovating designs while preserving cultural authenticity.

Chu Dau ceramic plate of the 15th century, artifact of Dresden Museum, Germany.

Today, Chu Dau ceramics enjoy international acclaim, gracing the homes of discerning collectors worldwide. Selected as diplomatic gifts and cultural ambassadors, they carry the essence of Vietnamese identity to the global stage, ensuring that Chu Dau’s legacy endures for generations to come.

Kapanda: The Easy Way to See Vietnam

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Say hi to Kapanda! It’s a new website where you can book trips around Vietnam. You can find it at https://kapanda.com. It’s a place where you can get bus tickets, train rides, car trips, and tours, all with a few clicks.

Local Touch:
Kapanda is special because it works with Vietnamese people who know their country best. They help you travel around Vietnam and show you cool places, like a local friend would.

Book in a Snap:
You don’t need to worry about how to book your travel in Vietnam anymore. Kapanda makes it super easy. Whether you want a bus to the mountains, a train to the city, or a car for a road trip, Kapanda has you covered.

Help Whenever You Need:
Kapanda knows that questions can pop up anytime. That’s why they have friendly people ready to chat with you 24/7. If you need help or just want to know the best places to go, they’re there for you.

Real and Fun:
When you use Kapanda, you’re getting the real Vietnam experience. The bus rides, train trips, and car tours are all run by folks from Vietnam. Plus, it’s a fun way to travel!

Good for Everyone:
Kapanda cares about Vietnam and the people who live there. They choose services that are good for the planet and help local businesses grow. Traveling with Kapanda means you’re doing something good, too.

Safe Rides:
Feeling safe is important when you’re traveling. Kapanda checks all the buses, trains, and cars to make sure they’re safe for you and your family.

Tasty Tours:
Vietnam has yummy food, and Kapanda can help you try it. They offer tours where you can eat like you live there and taste new things you might end up loving.

For All Travelers:
It doesn’t matter if you’re traveling alone, with friends, or with your family. Kapanda has something perfect for everyone. They love helping people have a great time in Vietnam.

Join the Fun:
When you book with Kapanda, you’re not just traveling. You’re joining a group of people who love exploring. You’ll make memories and maybe even new friends.

Get Going:
Are you excited to explore Vietnam? Let Kapanda help you. Check out https://kapanda.com and get ready for an amazing trip.

So, go ahead and start your adventure with Kapanda. Vietnam is waiting for you!

U.S. Financial Industry to Explore Sharing Ledger Technology for Multiasset Transactions

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The New York Innovation Center of the Federal Reserve Bank of New York will act as a technical observer.

Citi, JPMorgan, Mastercard, Swift and Deloitte are among major companies with an interest in financial services teaming up to explore sharing ledger technology by simulating multiasset transactions in U.S. dollars.

The research project, titled Regulated Settlement Network (RSN) proof-of-concept (PoC), will explore the potential of bringing commercial-bank money, wholesale central-bank money and securities such as U.S. Treasuries and investment-grade debt to a common regulated venue, according to a statement shared with CoinDesk.

The New York Innovation Center of the Federal Reserve Bank of New York will act as a technical observer.

“In today’s digital economy, financial market infrastructures may need to settle a host of digital assets within well-defined legal frameworks. Citi looks forward to exploring the opportunities of this project,” Debopama Sen, global head of payments at Citi Services, said in the statement.

In the U.S., ideas such as central bank digital currencies (CBDCs) have become contentious. While the U.S. Federal Reserve’s Chair Jerome Powell has told lawmakers that the Fed has zero interest in a system in which it would have a view into user data, CBDCs have become a presidential election Issue.

The program’s participants are not committed to any future phases of research once the first is complete. The collaboration was focused on gaining “further consensus on the use of shared ledger technology in the U.S. financial system,” and the findings will be published once concluded, the statement said.

“The application of shared ledger technology to dollar settlements could unlock the next generation of market infrastructures – where programmable settlements are 24/7 and frictionless,” said Raj Dhamodharan, executive vice president for blockchain and digital assets at Mastercard.

The program will be managed by the securities industry’s internal standards organization, the Securities Industry and Financial Markets Association (SIFMA). Other participants include TD Bank N.A., U.S. Bank, USDF, Wells Fargo, Visa and Zions Bancorp.

Rediscovering Inspiration in Labor

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In contemporary society, we witness a trend among young people—an inclination towards confrontations with authority, dreams of idyllic escapes from work, and a disdain for the virtue of hard work. However, let us remember, my friend, that diligence and hard work are the bedrock of prosperity, a truth echoed by the wealthiest individuals throughout history.

Recently, I delved into the biography of America’s pioneering billionaire and titan of the oil and gas industry, John Davison Rockefeller Sr. (1839-1937). What struck me was a poem, composed by Rockefeller himself at the age of 86, offering profound insights into labor and leadership, diametrically opposed to today’s prevailing workplace ethos. It reads:

“I was early taught to work as well as play,
My life has been a long, happy holiday;
Full of work and full of play—
I dropped the worry on the way—
And God was good to me every day.”

Rockefeller Sr.’s poetic reflection subtly dispels modern fantasies of rebellion, indolence, and entitlement in the workplace. He portrays his professional journey not merely as a series of tasks or conquests but as a harmonious blend of labor and leisure, intertwined facets of existence. This holistic perspective underscores the significance of maintaining emotional equilibrium and a positive outlook in our professional endeavors.

By affirming, “In my childhood, I was taught to work and play,” Rockefeller directly challenges the notion that work is merely a burdensome necessity. Instead, he posits that work should be as enriching and gratifying as leisure—a remedy to the contemporary quandary of burnout or aimlessness in the workforce. Rockefeller himself was not born into privilege; it was the exigencies of life that compelled him to learn the delicate balance of toil and recreation from a tender age.

The line, “A holiday so long, so happy – I define life,” underscores the importance of cherishing life’s experiences, including the fulfillment found in work. This stands in stark contrast to today’s culture, where work is often construed as a relentless pursuit, each milestone demanding more than the last. Rockefeller invites us to discover contentment in our roles, irrespective of our position in the corporate hierarchy.

Of particular poignancy is his admission, “Oh, where did I let go of my depression,” a testament to his ability to shed the burdens and anxieties that often accompany professional ambition. This relinquishment of worry fosters personal well-being and cultivates a healthier, more conducive work environment. It underscores the notion that leadership and success stem from resilience and optimism, not from cutthroat competition or dominance.

Finally, his acknowledgment, “And God has been with me every day,” reflects not only humility and gratitude—qualities often eclipsed by the relentless pursuit of advancement—but also serves as a reminder that success is not solely a product of individual efforts but also of fortuitous circumstances and the support one receives along the journey. It begs the question: could a lack of gratitude be hindering the progress of today’s youth?

Rockefeller’s poetic legacy challenges us to reassess our professional lives. Instead of fostering environments marked by discord with authority, a propensity for idleness, and an insatiable thirst for advancement, let us strive to cultivate workplaces imbued with joy and appreciation. In embracing grace, equilibrium, and progress, we transform our careers into fulfilling journeys, where success is not merely measured by achievements but by the satisfaction derived from the path traveled.

Indonesia Regulator Forms Crypto Committee to Monitor Industry’s Operation, Compliance

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The committee was established by the Commodity Futures Trading Supervisory Agency, known as Bappebti, because crypto is considered a commodity in Indonesia.

The Commodity Futures Trading Regulatory Agency, the Indonesian government agency known as Bappebti whose responsibilities include overseeing cryptocurrencies, formed a dedicated committee to monitor the industry.

The Crypto Asset Committee was established under regulations enacted in January. Crypto falls under Bappebti’s jurisdiction because crypto is considered a commodity in Indonesia.

“This committee will be a driving force, ensuring that the crypto asset industry continues to operate smoothly and remains within the applicable legal framework,” Kasan, the head of Bappebti, said during the BLK 2024 opening event in Jakarta on May 2. “Therefore, optimizing the role of the Crypto Asset Committee should be a key focus in implementing the current crypto asset ecosystem.”

The Crypto Asset Committee has representatives from Bappebti, various government ministries, crypto bourses, clearing institutions, associations, academics and relevant practitioners. The committee will analyze industry reports, manage a central database, assess crypto asset risks and have the authority to propose adding or removing assets from the list.

Suspension of SUP service at Kinh beach following assault incident

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Following a morning session on May 7 at the Bai Kinh tourist area in Vinh Hai commune, Ninh Hai district, the Department convened to address the issue. A directive was issued to halt the SUP (stand-up paddle board) rowing service, with immediate effect. Businesses are instructed to cease operations and are prohibited from serving tourists until they meet the required standards.

Additionally, the Department of Culture, Sports, and Tourism has reached out to the affected tourist and her family, extending a formal apology for the inappropriate conduct of department staff, which caused distress to the tourists. Efforts are underway to collaborate with relevant authorities to investigate the incident thoroughly and identify those responsible. This marks the first such incident in Ninh Thuan province.

According to Mr. Hoa, the Department had not issued a license for SUP services, indicating that the operation was “spontaneous.” Upon discovery of the unauthorized service, the Department swiftly dispatched inspectors and demanded assurances from operators not to engage in business without meeting regulatory requirements.

The female tourist was mercilessly assaulted.

The incident, which occurred on May 2, involved a tourist, Ms. D.L., and her friends, who rented SUP boards at Kinh Beach. When one of her friends encountered difficulty at sea, the situation escalated as assistance was sought. Despite attempts to intervene, the tourists were met with disrespectful behavior from individuals offering assistance.

When the tourists were upset, thinking they needed to prioritize saving people first and using their phones to film the incident, one of the jet ski riders said insulting words to Ms. D.L. and hit her in the face.

When returning to Hanoi, the female tourist felt uncomfortable, went to the doctor, and was diagnosed with a ruptured eardrum in her left ear.

In response to the incident, the People’s Committee of Ninh Thuan Province issued a directive urging prompt investigation and appropriate action. Chairman Tran Quoc Nam emphasized the need for a thorough inquiry in collaboration with local authorities to address the matter swiftly and effectively.

QCP Receives In-Principal Approval From Abu Dhabi Regulator

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The digital assets trading firm said in April it was setting up shop in Abu Dhabi in collaboration with Further Ventures.

Digital assets trading firm QCP Capital said it received In-Principle Approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).

The Singapore-based firm is the latest digital assets company to establish a licensed presence in Abu Dhabi. In April, during Token 2049 in neighboring Dubai, it said it signed a partnership with Further Ventures to expand into the Middle East.

“Our intention is to be a responsible player that wants to support market confidence,” CEO Melvin Deng said in a statement. “We are proud to be the first Singaporean digital asset market maker and broker-dealer to set up here in the market and hope we can encourage others to venture into this dynamic market.”

Abu Dhabi Global Market is one of the fastest-growing crypto hubs in the region.

“We want to learn from what other players are doing in Abu Dhabi and the region and bring our expertise as a first mover in digital assets to the ecosystem,” Deng said.

Chainalysis reported in October 2023 that most UAE digital asset transactions were large institutional investments.

In December, Coinbase’s new blockchain-based financial products for institutional investors also received in-principle approval from the FSRA.

Passenger traffic at Dien Bien Airport quintuples on normal days

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Around 1,000 passengers arrive in Dien Bien every day, including both domestic and international travelers, on the occasion of commemorating the 70th anniversary of the historic victory of Dien Bien Phu.

After upgrading, Dien Bien airport can now welcome A320/A321 aircraft. Photo: VNA.

A representative from the Airports Corporation of Vietnam (ACV) stated that currently, there are 6-8 flights to/from Dien Bien Airport per day, covering routes from Hanoi to Dien Bien and Ho Chi Minh City to Dien Bien.

The number of passengers through this airport has reached nearly 1,000 passengers per day, increasing fivefold compared to the previous passenger volume of over 200 passengers per day. Both domestic and international passenger numbers have increased.

According to the flight schedule, from May 3rd to 5th, the number of flights increased to 10 flights per day. It is projected that on May 6th and 7th, Dien Bien Airport will serve 18 flights per day.

Since the completion of the upgrade and expansion and the commencement of operations, Dien Bien Airport has had modern, well-equipped infrastructure and facilities, with additional personnel to meet the requirements of flight operations and passenger services.

Currently, the airport has a 2,400-meter-long and 45-meter-wide runway, with two aprons and aircraft parking spaces for four positions, capable of accommodating new-generation aircraft like the A320, A321, or equivalent, along with synchronized technical systems such as CAT I approach lighting system, taxiway, cameras, and lighting for security.

The two-story passenger terminal has a capacity of 500,000 passengers per year.

In response to the high demand for travel to Dien Bien during the commemoration of the 70th anniversary of the Dien Bien Phu victory, both Vietnam Airlines and Vietjet have announced increased flight frequencies on this route.

In mid-April, Vietnam Airlines announced nearly doubling its flight frequency to Dien Bien from May 3rd to 8th. Specifically, the airline operates three flights per day from Hanoi to Dien Bien and vice versa.

Vietjet announced the opening of additional flights on the Hanoi – Dien Bien route with a frequency of three flights per week. During this period, Vietjet also increased the frequency of flights on the Ho Chi Minh City – Dien Bien route to three flights per week.

@Znews

3 more districts in Ho Chi Minh City to have open-top double-decker buses

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The Department of Transport of Ho Chi Minh City has just proposed to the City People’s Committee to expand the pilot program for tourist passenger transportation services using double-decker open-top buses.

The open-top double-decker bus passes through more than 20 ancient and modern tourist attractions, helping visitors see the full beauty of Ho Chi Minh City.

Accordingly, the Department suggests that Ho Chi Minh City agrees to continue implementing the pilot program for tourist passenger transportation services using double-decker open-top buses in District 1 and District 4. At the same time, they propose to expand the pilot program to District 5, District 6, and Thu Duc City until December 31, 2025.

The two proposed new routes are:

  • The first route, numbered DL03, operates from 8:00 am to 10:30 pm daily, covering a distance of 19.6 km with a travel time of 90 minutes. Route DL03 will start from the bus station, passing through Districts 1, 5, 6…
  • The second route, numbered DL04, operates from 9:00 am to 4:00 pm daily, covering a distance of 13.8 km with a travel time of 80 minutes. Route DL04 will start from the Saigon Bus Station, passing through Districts 3, 5, 6…

Previously, Ho Chi Minh City had implemented a pilot program for two double-decker open-top bus routes, including route DL01 (operating since 2020), with a length of 12.7 km, with 5 buses operating per day, operating hours from 9:00 am to 11:00 pm. Until the end of the first quarter of this year, route DL01 had served 191,681 passengers; route DL02 (operating since 2022) is 13.8 km long, with 5 buses operating per day, operating hours from 9:00 am to 5:30 pm. In the first three months of the year, route DL02 served 125,203 passengers.

The leadership of the Department of Transport evaluates that the implementation of the pilot program for tourist transportation services using double-decker open-top buses in the city contributes to building new tourism products, promoting tourism in Saigon, and creating attractions to attract domestic and international tourists.

The route of the double-decker open-top bus connects tourist attractions, landmarks, and economic sites of Ho Chi Minh City to promote and develop tourism.

Expanding the pilot program for tourist passenger transportation services using double-decker buses to District 5, and District 6 will contribute to supporting the development of the night economy and tourism. If approved, the Department of Transport will arrange convenient passenger pickup and drop-off points for passengers to access historical sites, tourist attractions, scenic spots, etc.

@Thanhnien.vn

Hanoi connects tourism with the Far East (Russian Federation)

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Yesterday, the Hanoi Department of Tourism hosted a networking event facilitating two-way exchanges between Hanoi’s tourism businesses and travel companies from the Far East (Russia Federation).

Introducing the tourism potential and strengths of the Far East (Russia Federation), Malinovskii Roman, Vice President of the Asia-Europe Business Association, informed that the city of Irkutsk, located in the southeastern part of Russia, founded in the 17th century, boasts numerous UNESCO-recognized World Heritage sites. Particularly, 60 kilometers away from the city center lies Lake Baikal, considered the largest freshwater lake in the world, renowned for its stunning natural scenery and unique cultural features, making it an ideal destination for international tourists.

To attract Vietnamese tourists to this region, the Russian airline IrAero has initiated direct international flights from Irkutsk (Russia) to Hanoi (Vietnam) with a frequency of two flights per week, offering great convenience for travelers to explore the natural beauty and culture of the area.

During the meeting, Hanoi’s tourism businesses showcased their potential and strengths in developing tours and discussed methods of exchanging tourists between the two countries, Vietnam and Russia. At the same time, they also highlighted challenges and obstacles regarding service quality and immigration procedures when bringing Vietnamese tourists to Irkutsk for tourism.

According to the Hanoi Department of Tourism, among Vietnamese tourists choosing Russia as their destination, over 50% are from Hanoi. Hanoi has also signed a cooperation agreement with Moscow (Russia), organizing a Vietnamese Goods Fair in Moscow.

It is anticipated that in September 2024, the Moscow Day event will be held in Hanoi, providing an opportunity for tourism businesses in the Far East to promote and connect tourism tours to Irkutsk with Vietnamese partners.

@vtv.vn

Fireworks locations at the 2nd Ho Chi Minh City River Festival

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The Department of Tourism of Ho Chi Minh City is seeking approval from the Ho Chi Minh City People’s Committee to launch low-altitude fireworks at 3 locations during the opening ceremony of the 2nd River Festival in 2024.

The 2nd River Festival of Ho Chi Minh City is scheduled to take place from May 31st to June 9th at various locations: Dragon House Wharf – Saigon Port, Bach Dang Park, Saigon riverside park, Nhieu Loc – Thi Nghe Canal area, Starlight Bridge Wharf (District 7), Binh Dong Wharf (District 8), Suoi Tien Cultural Tourist Area…

According to the proposal of the Ho Chi Minh City Department of Tourism, there will be 3 low-altitude fireworks points at the festival. Point 1 is the Saigon riverside area (Thu Thiem Ward, Thu Duc City, fired from fixed pontoons); point 2 is at Ba Son Port area (Ben Nghe Ward, District 1); point 3 at the Landmark 81 riverside park area (Ward 22, Binh Thanh District). Additionally, there will be fireworks displays on tourist boats on the Saigon River. After approval from the Ho Chi Minh City People’s Committee, the Department of Culture, Sports and Tourism will consult the Ministry of Culture, Sports and Tourism for implementation.

Fireworks on the Saigon River on the occasion of April 30th

After the opening ceremony at 8:00 p.m. on May 31st at Dragon House Wharf, when the cultural program ends at 9:30 p.m., fireworks at point 1 will commence. Around 9:40 p.m., the second fireworks display will start. The fireworks at Landmark 81 riverside park will continue around 9:55 p.m. Each fireworks display will last for 15 minutes.

Moreover, the 2024 River Festival will feature various water sports activities such as the Ho Chi Minh City Open River Swimming Championship at Bach Dang Park, with competition distances of 2 km, 5 km, amateur and professional categories… The first Stand-up Paddleboarding Championship of Ho Chi Minh City at Nhieu Loc – Thi Nghe Canal or Bach Dang Wharf. There will be demonstrations of sailing boats, jet skis, sailing boats, and parasailing at Bach Dang Wharf…

Activities on the Saigon River at the 1st River Festival

The 2024 River Festival will also recreate the atmosphere of “onshore and onboard,” featuring a floating market from the Mekong Delta at the Nhieu Loc – Thi Nghe Canal (from Dien Bien Phu Bridge to Thi Nghe Bridge); a week of “onshore and onboard” fruits along the embankment of Binh Dong Wharf, District 8…

This year’s highlight is the art program “Legendary Journey,” continuing the story of “River Tales” in 2023.

@Thanhnien.vn

Vietnam among the top favorite destinations of Chinese tourists

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China witnessed an explosive growth in outbound tourism during the extended International Labor Day holiday from May 1st to May 5th.

Data from leading online travel companies in the populous nation indicate a significant increase in international tour bookings by Chinese travelers. Among the top 10 foreign destinations favored by Chinese tourists, Vietnam ranks highly.

For instance, according to the online travel platform Qunar, the top 10 destinations for Chinese holidaymakers in May include Thailand, Japan, Malaysia, South Korea, Singapore, Indonesia, Vietnam, the United States, the Philippines, and Australia. Notably, flight bookings to Japan surged by over 60% compared to the same period in 2019, making it the destination with the highest growth among the top 10.

Moreover, data from Trip.com Group reveals that Japan, South Korea, Malaysia, the United States, France, and Vietnam are among the most attractive foreign destinations for Chinese tourists during the upcoming National Day holiday (October 1st), as reported by the Global Times.

Chinese tourists entering Mong Cai

The number of international flight bookings by Chinese travelers on the first day of the May 1st holiday reached a record high, increasing by 20% compared to 2019. According to Qunar’s data, nearly 100 foreign destinations experienced significant increases in flight bookings.

Flight bookings to some visa-free destinations during the holiday surpassed the figures recorded during the same period in 2019. Specifically, bookings to Thailand and Malaysia increased by over 30%, while bookings to Singapore and Georgia doubled.

Chinese tourists are also willing to opt for longer-distance travel during the 5-day holiday period. The Middle East and Europe emerge as popular choices for holiday destinations, with Saudi Arabia and Egypt experiencing a more than threefold increase in flight bookings. Similarly, countries like the United Arab Emirates, Turkey, and Qatar saw flight bookings rise by over 50%. According to Qunar’s data, popular European destinations such as the UK, Hungary, Ireland, Spain, and Croatia witnessed a doubling in flight bookings.

Meanwhile, with the Japanese yen hitting its lowest level in 34 years against the US dollar, Japan attracted a large number of foreign tourists, including Chinese travelers. According to Ctrip, Japan is the top destination for outbound tourism during the May 1st holiday, followed by Thailand and South Korea. Airbnb’s data also indicates that Japan is the most searched destination.

The booming outbound tourism is facilitated by the increase in international flights. China Southern Airlines added over 900 flights from April 30th to May 6th, operating nearly 19,000 flights in total. China Eastern Airlines also expanded its international and regional routes, including flights from various Chinese cities to destinations such as Thailand, Singapore, Japan, Russia, and many other countries.

@Thanhnien.vn

Civil Aviation Authority establishes team to inspect air ticket prices

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The Civil Aviation Authority will inspect ticket sales, declarations, and the listing of airline ticket prices from the beginning of the year until now.

Airline ticket prices increased during the recent April 30-May 1 holiday. Photo: Duy Hieu.

Under the direction of Minister of Transport Nguyen Van Thang, the Civil Aviation Authority has just established an inspection team to examine the sale, declaration, and listing of airline ticket prices from the beginning of the year until now.

The inspection team consists of 10 members, led by Mr. Do Hong Cam, Deputy Director of the Civil Aviation Authority.

Accordingly, the inspection period is 3 working days from May 7th to 9th. The inspection period is from January 1st to the date of issuance of this decision and other relevant periods related to the content of the inspection.

Previously, Minister Nguyen Van Thang requested a review and inspection of airline ticket prices. This is aimed at enhancing state management, tightly controlling air ticket prices, contributing to stabilizing prices, and ensuring the harmony of socio-economic development goals in accordance with the government’s directives.

The leader instructed the Civil Aviation Authority to urgently review, and in case of any abnormalities, promptly provide guidance, rectify, and handle violations according to authority (if any).

At the same time, the Minister directed aviation management agencies to organize inspections, check ticket sales, implement declarations, and list prices of airlines, absolutely not allowing price increases beyond regulations.

The Ministry of Transport proposed that the Transport Department proactively monitor and promptly advise the Ministry to direct agencies and units to strengthen inspections of transportation activities, serve passengers, and enhance the best solutions to meet the travel needs of people and stabilize ticket prices.

Furthermore, to avoid unauthorized price increases, especially during the upcoming peak summer season, based on the principle of harmonizing the interests and rights of businesses and the needs of the people.

Regarding the high increase in air ticket prices recently, many customers believe that one of the reasons pushing air ticket prices beyond a reasonable level is the current tax and fee rates, which are not insignificant. According to statistics, airlines have to bear over 20 types of direct and indirect fees.

Discussing the content related to taxes, fees constituting air ticket prices, a representative of the Directorate of Tax Policy and Fees Management (Ministry of Finance) stated that the fees mentioned above are “service fees” regulated in Circular No. 53/2019 of the Ministry of Transport.

He affirmed that these fees are not fees belonging to the state budget as prescribed by the Law on Fees and Charges.

@Znews

Australia’s Tax Office Tells Crypto Exchanges to Hand Over Transaction Details of 1.2 Million Accounts

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The ATO said the data will help identify traders who failed to report their cryptocurrency-related activities.

The Australian Taxation Office (ATO) has asked cryptocurrency exchanges to provide the personal data and transaction details of up to 1.2 million accounts, according to reports.

The Australian Financial Review reported on Monday that “as part of a surveillance effort announced in April, the ATO said its latest data collection protocol would require designated cryptocurrency exchanges to provide the names, addresses, birthdays and transaction details of traders to help it audit compliance with obligations to pay capital gains tax on sales.”

The ATO said the data would help identify traders who failed to report their cryptocurrency-related activities, including the exchange of crypto assets when they sold it for currency or used it to pay for goods and services, Reuters reported on Tuesday.

Australia’s crackdown on the crypto industry has been more evident since the collapse of FTX. It has sued companies for attempting to sell tokens without the appropriate licenses, banking partners have blocked payments to cryptocurrency exchanges and has proposed a new licensing regime for crypto exchanges.

Last year, the ATO clarified that its capital gains tax on crypto products also extends to wrapped tokens or token interaction with decentralized lending protocols.

Rising gold prices: Exploring Vietnam’s unwavering demand

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The World Gold Council’s latest report on gold demand trends for the first quarter of 2024 sheds light on this phenomenon. Global gold demand experienced a 3% uptick to 1,238 tons compared to the same period last year, marking the most robust increase since 2016. However, excluding over-the-counter (OTC) purchases, demand dipped by 5% to 1,102 tons.

Within this global context, Vietnam emerges as a standout, with investment demand for gold bars and coins surging by an impressive 12%, accompanied by a 6% rise in total consumer demand. The report attributes this surge to a combination of factors, including strong investment activity in the OTC market, continued gold acquisitions by central banks, and heightened purchases from Asian buyers.

These trends have propelled the average quarterly gold price to a historic high of $2,070 per ounce, marking a significant 10% increase from the previous year and a 5% uptick from the previous quarter. Central banks have notably played a pivotal role, adding a substantial 290 tons of gold to their reserves in the first quarter alone.

The report underscores the significance of gold in international reserve asset portfolios amidst market volatility and escalating risks. In Vietnam specifically, investment demand for gold bars and coins in the first quarter has reached its highest level since 2015.

According to experts, domestic investors are lured by the substantial increase in gold prices, particularly amidst concerns about rising energy costs, inflationary pressures, and currency depreciation against the USD. Notably, the selling price of SJC gold bars in Vietnam has surged to 87.5 million VND/tael, reflecting a significant increase compared to previous levels.

Shaokai Fan, regional director for Asia-Pacific (excluding China) and head of global central banking at the World Gold Council, highlights the common theme of local currency depreciation across ASEAN markets, driving demand for gold as a safe-haven asset and offering attractive profit potential based on local prices.

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