Corporate

A threat to the international financial system. Not ready to be implemented. A potentially shadowy mechanism that could be exploited by criminals. Facebook's Libra money a threat and far from ready: G7, PHOTO | DPA PICTURE-ALLIANCE | AFP G7 finance ministers and central bankers have dealt a new blow to Facebook's planned new cryptocurrency Libra, issuing a barrage of withering warnings about its dangers for the global economy at their two-day meeting outside Paris that wrapped up on Thursday (Jul 18). Facebook last month unveiled its plans for Libra in an announcement greeted with concern by governments and critics of the social network behemoth whose reputation has already been tarnished by its role in spreading fake information and extremist videos. Ministers from the Group of Seven (G7) major global economies "agreed that projects such as Libra may affect monetary sovereignty and the functioning of the international monetary system," France, the current G7 chair, said in a … [Read more...] about Facebook”s Libra money a threat and far from ready: G7

The Government and competent agencies have pledged to create favourable conditions and a better working environment for Japanese enterprises to do business in Vietnam, Prime Minister Nguyen Xuan Phuc said. Prime Minister Nguyen Xuan Phuc (r) welcomes Yanai Tadashi, Chairman and CEO of the Japanese retail group Fast Retailing in Hanoi on Thursday. - VNA/VNS Photo The Government leader was speaking during his reception for Yanai Tadashi, Chairman and CEO of the Japanese retail group Fast Retailing in Hanoi yesterday, during which he reiterated that Japan is one of Vietnams leading economic partners. He praised the business and investment activities of Fast Retailing in Vietnam, saying that with its population of more than 96 million, Viet Nam is a potential market for Japanese textiles and garment products. The operation of Japanese firms in Vietnam will contribute to strengthening strategic partnership between the two countries, he added. Yanai Tadashi said his company will … [Read more...] about Vietnam facilitates Japanese firms operations: PM

Automation can ensure the textile industry goes green, saving natural resources and increasing competitiveness, Photo: Le Toan As one of the biggest and most modern woven fabrics producers in Nam Dinh province over the years, Bao Minh Textile JSC has applied advanced technologies in designing and manufacturing many types of mid-range to high-end woven fabrics. “Technologies have helped us reduce the number of direct workers and link data among production equipment,” Vu Thanh Cong, marketing director of Bao Minh Textile JSC, told VIR. “Thanks to automation, we can easily control operation of the whole factory, and quickly discover and handle troubles.” Attending the fifth KITECH–VITAS Textile and Garment Seminar themed on better digital production in Hanoi last week, Cong was most interested in the application of 3D technology in design and making samples introduced by Clo Virtual from South Korea. “Although 3D technology is not new, applying it in … [Read more...] about Brighter digital prospects for textile garment

With Amazon Prime Day coming, US-based e-commerce platforms are coming under scrutiny for their performance in ensuring the authenticity of the products they sell – and they are not having a good showing. Purchasing authenticated goods in Prime Day may see a low chance Prime Day 2019 began from 2 PM, July 15 and will end at 1.59 PM, July 17. During these 48 hours, all kinds of goods on the platform will be discounted be a maximum of 50 per cent. Vietnamese customers can purchase goods on the occasion via Fado.vn – an intermediary of Amazon. Similar to big sales like Black Friday and Alibaba's Single Day, Prime Day is also an opportunity for unauthenticated and fake goods as neither Amazon nor Alibaba have managed to ensure complete supervision over their platforms. Several months ago, Alibaba seized $536.2 million worth of fake goods from vendors trading on its platform. Last year, the FBI purchased 47 goods on Amazon platform and discovered that 20 of them were … [Read more...] about Fake goods may not give up the Prime Day 2019

International Monetary Fund chief Christine Lagarde announced on Tuesday (Jul 16) she had submitted her resignation from the global lender, saying she had more clarity about her nomination to be the next head of the European Central Bank. Christine Lagarde stepped away from the IMF leadership post she has held since 2011, sparking a wave of speculation about who would replace her. (AFP/MANDEL NGAN) Lagarde said in a statement her resignation was effective Sep 12, opening the way for the IMF to launch the search for her successor, which is likely to be another European. "With greater clarity now on the process for my nomination as ECB President and the time it will take, I have made this decision in the best interest of the Fund," Lagarde said in a statement. She said her resignation would expedite the selection for the next head of the IMF. Lagarde's resignation comes two weeks after her nomination on Jul 2 for the ECB's top job. She did not immediately resign from the IMF … [Read more...] about Lagarde resigns as IMF chief, cites more clarity on ECB post