Vietnam Financial News

India slipped to their lowest level since early February this week, pressured by sluggish demand, while Thai rates declined for the fourth consecutive week due to a weaker baht. Top exporter India's 5% broken parboiled variety was quoted at $540-$548 per ton this week, down from last week's $550-$558. Prices hit a record high of $560 last month after customs officials changed the calculation method for the 20% export duty, resulting in a higher levy. Demand from Asian buyers was subdued, which brought down prices from the last month's highs, said Himanshu Agarwal, executive director at Satyam Balajee, a leading exporter.

Tesla Inc.’s court to lay down its investment plans for the South Asian nation after the government cut import duty on electric vehicles. The industry department last month released a comprehensive policy for boosting EV manufacturing in the world’s most-populous nation. Following that move, it’s up to Elon Musk’s carmaker to “make the announcements of their manufacturing plans,” Rajesh Kumar Singh, secretary of department for promotion of industry and internal trade, told Bloomberg in an interview on Thursday. “We will help them out in terms of giving them the contacts at state level,” Singh said. “There have been contacts made at that level with state governments and the central government. VinFast has already announced and we expect a few others.”

visa, the passenger will not have a visa sticker in their passport. "When checking in at the airport, you will be asked to display a 'visa issuance notice' on your device (e.g.

Crypto exchange Bitget on Tuesday announced a partnership with payment solutions provider OnRamp to streamline the conversion of fiat money into cryptocurrencies.

Indian Coast Guard ship Samudra Paheredar, a specialised Pollution Control Vessel, on Tuesday made a port call at Ho Chi Minh in Vietnam as part of its ongoing overseas deployment to the ASEAN countries, officials said. This deployment is a testimony to the ICG's commitment to «bolster bilateral relationships» and «enhance international cooperation» with friendly countries, the Defence Ministry said in a statement. «The deployment of Samudra Paheredar to the ASEAN region reflects India's shared concern and resolve towards marine pollution, promoting safety and security through maritime cooperation. Prior to Ho Chi Minh, the vessel had visited Manila, Philippines, to demonstrate a seamless continuation of diplomatic maritime engagements in the ASEAN region,» it said. The ship is equipped with specialised marine pollution control equipment and a Chetak Helicopter in pollution response configuration, designed to contain and recover spilled oil and augment the operation.

Developing economies of East Asia and the Pacific are set to see slowing growth, with higher-for-longer interest rates and worsening geopolitical tensions clouding the outlook for the region, the World Bank said.

Crypto, the buzzword in the world of finance. There are currently around 31 million users of these digital assets in Europe, according to estimations from cryptocurrency payment gateway TripleA.

Musk surely knows how to control the narrative and the noise. His relentless honking at Raisina Hill’s policy making precinct for the last 4 long years did electrify the imagination of the government bureaucracy. That is why the auto industry executives in private see Narendra Modi government’s recently announced new electric vehicle policy, the last business before the announcement before the 2024 elections, predominantly as a red carpet rollout for just one eccentric billionaire: Musk. Even then to straight jacket the initiative as ‘The Tesla policy’ is a cynical response: The timebound and ceiling based 55-85% import duty cut on electric cars above a certain value, linked to specific localisation and investment milestones to boost domestic manufacturing would benefit incumbents Tata Motors, Hyundai, VW Group as much as it would Musk or accelerate the plans of Phat Nhat Vuong, founder of Vietnamese OEM VinFast, that has been looking to set up base in Tamil Nadu. Predictably therefore, the initial outrage of local players has evaporated post the announcement!

Chinese electric vehicle makers are showcasing their latest models, including a flying car, as they take on global rivals at the Bangkok International Motor Show

Vietnamese automaker VinFast plans to sell its electric vehicles in Thailand

New European Union rules aimed at protecting dwindling forests are reordering how the world gets its coffee

Elon Musk’s long courtship of Indian officialdom may have finally paid off. Prime Minister Narendra Modi wanted him to open one of his Tesla “gigafactories” in the country, as part of its efforts to expand its long-moribund manufacturing sector; Musk, meanwhile, wanted India to address tariffs on electric vehicle imports that rendered foreign-made Teslas uncompetitive. On March 15, the government announced a new scheme to promote investment in EVs. Any company willing to invest $500 million in a new manufacturing facility that begins production in three years (and with at least a quarter of its components added locally, to begin with) will also be allowed to import 8,000 high-end vehicles a year at a lower tariff of 15%. It’s generally assumed that this quid pro quo will be enough to get Musk — and, hopefully, one or two other companies, like Vietnam’s Vinfast Auto Ltd. — to bite. Certainly, the EV producers that currently dominate the Indian market are already bracing for competition. On the one hand, this looks like business as usual. Officials have made a habit of using the supposed potential of the domestic market as an inducement for foreign investors. The stick of high tariffs together with the carrot of possible consumer demand growth should be enough to lure in people like Musk, they think.

Vietnam's president has resigned as the ruling communist party in the latest episode of a “blazing furnace” anti-corruption campaign

Uno Minda on Friday said it has tied up with Starcharge Energy to manufacture and sell electric vehicle supply equipment in the country. The company has entered into a technical license agreement with Starcharge Energy Pte for wall-mounted AC chargers designed for home charging. «This collaboration further strengthens our dedication to 'Make in India' and for accelerating the nation's transition to a sustainable and electrified future,» Uno Minda Group CMD Nirmal K Minda said in a statement. StarCharge, a global leader in electric vehicle charging infrastructure and microgrid solutions, operates in 67 countries and regions with manufacturing facilities in the US, Vietnam, and China.

HANOI (Reuters) — U.S. food and drink maker PepsiCo (NASDAQ:PEP) Inc has committed to investing an additional $400 million in Vietnam to build two new plants powered by renewable energy in the country, its government said on Friday.

A Communist Party newspaper says Vietnam’s Vice President Vo Thi Anh Xuan will be acting president after the previous president’s resignation

By Francesco Guarascio and Khanh Vu

(Reuters) — Robert F. Kennedy Jr., a scion of the famed Kennedy family, initially sought the Democratic Party's nomination for president but dropped that effort in October and re-entered the race for the White House as an independent.

EV policy, slashing customs duties on imported cars. This policy concession, announced ahead of the general elections, is an incentive for automobile MNCs, such as the world's largest EV manufacturer, Tesla, to make India a global hub for EVs. However, the policy comes with strings:

South Carolina officials are preparing to remove over 1.2 million gallons of toxic waste from a World War II aircraft carrier in Charleston Harbor

Mint. A bilateral air service agreement mandates a limit on the number of seats or flights that airlines can allocate between two countries. India currently has bilateral air service agreements with 116 countries.