Its only store now in HCMC’s Go Vap District reported sales of VND1.6 trillion ($68.5 million) last year. "With 20 stores, our revenues could reach VND32 trillion [$1.37 billion], so a billion dollars is not a difficult target," Duong said. S.Korea-owned E-mart entered Vietnam in 2015 and its local operations were acquired by automaker THACO last year under a franchise deal. At least 20 stores must be opened by 2026 under the franchise agreement. "Two or three new supermarkets will have to be opened each year," Duong said. Two new stores will be opened this year, both in HCMC: a second in Go Vap District and the other in Thu Duc City. Districts 7 and Binh Tan are possible locations for future expansion, the chairman added. … [Read more...] about THACO eyes billion-dollar sales for supermarket chain
Zimbabwe 10 billion dollar note
Senate Democrats battle to pass $430 billion climate, drug bill
The debate began after the Senate voted 51-50 to move ahead with the legislation. Vice President Kamala Harris broke a tie vote, with all 50 Republicans in opposition. The Senate was set to debate the bill for up to 20 hours before diving into an arduous, time-consuming amendment process called a "vote-a-rama." Democrats and Republicans were poised to reject each other's amendments, as Senate Majority Leader Chuck Schumer maneuvered to keep a his 50-member caucus united behind a bill that was negotiated over several months. If even one Democrat were to peel off, the entire effort would be doomed in the evenly split 50-50 Senate. Earlier in the day, the Senate parliamentarian determined that the lion's share of the healthcare provisions in the $430 billion bill could be passed with only a simple majority, bypassing a filibuster rule requiring 60 votes in the 100-seat chamber to advance most legislation and enabling Democrats to pass it over Republican objections. Democrats hope … [Read more...] about Senate Democrats battle to pass $430 billion climate, drug bill
People sink thousands of dollars in virtual move-to-earn game WingStep
He said he joined in mid-June, soon as the move-to-earn NFT app was released. He says: "I spent $500 on a pair of shoes. I broke even within 15 days, with the price of my virtual sneakers rising to $600." He had more than two years’ experience in NFT gaming and had carefully researched the project, and was confident it was a smart investment, especially since it had sponsored a number of blockchain events in the country. He borrowed money in mid-July to buy five more pairs of sneakers and two phones, which he combined with three phones he already had to start "farming." "I used to earn around $250 a day before repair costs. I had to repair my NFT sneakers twice a day on average. "I calculated that I would be able to pay off the debts and start making profits after about 25 days." But 10 days later the app announced without warning that it needed to do maintenance for more than a day. WSS, a reward token created in the game with unlimited supply, then dropped to $0.0008 … [Read more...] about People sink thousands of dollars in virtual move-to-earn game WingStep
Breakfast @ Tuoi Tre News — August 10
Read what is in the news today: Health -- The Ministry of Health reported 2,340 new cases of COVID-19 on Tuesday, raising the national caseload to 11,351,563 and marking a new record of daily infections in three months, according to the ministry. Society -- A tropical depression over the East Vietnam Sea has evolved into a storm named Mulan. This is the second storm off the Vietnamese coast this year and is forecast to bring heavy rains to the northern region from Wednesday, according to the National Center for Hydro-Meteorological Forecasting. -- The Ho Chi Minh City Department of Construction proposed on Tuesday an allocation of VND500 billion (US$21.37 million) from the municipal budget for the renovation of 246 old, run-down apartment buildings in the southern metropolis. -- Functional forces on Tuesday imposed fines totaling more than VND26 million ($1,111) on a restaurant in Thu Duc City under Ho Chi Minh City, where a case of methanol poisoning killed two … [Read more...] about Breakfast @ Tuoi Tre News — August 10
‘Time against us’ in bid to rescue 10 Mexican miners after 3 days underground
Large pumps sucked water from a flooded coal mine in Mexico on Saturday as authorities weighed whether to send divers to try to save 10 miners who have been trapped underground for more than three days. The miners became trapped at a mine in the northern border state of Coahuila on Wednesday afternoon when their excavation work caused a tunnel wall to collapse, triggering flooding in three wells. President Andres Manuel Lopez Obrador said Saturday would be "decisive" in determining whether divers could safely enter the mine. But by afternoon, Coahuila Governor Miguel Riquelme said water levels were still too high. "Time is against us," he told families at the site, Mexican media reported. Mexico's President Andres Manuel Lopez Obrador visits a coal mine that collapsed leaving miners trapped in Sabinas, Coahuila state, Mexico August 7, 2022. Photo: Mexico Presidency/Handout via Reuters Relatives keeping vigil outside said they were pinning their hopes on the … [Read more...] about ‘Time against us’ in bid to rescue 10 Mexican miners after 3 days underground
Gov’t public debt payment suffers less impact from US dollar appreciation
Rach Gia Port in the southern province of Kien Giang is under construction with investment capital from the Government. The Government's public debt is said not to be affected by the appreciation in value of the greenback this year. — VNA/VNS Photo The Ministry of Finance (MoF) has announced that the appreciation in the value of the greenback did not make much impact on the Government’s public debt and debt payment. Under the exchange rate fluctuations of the three main currencies (US dollar, Japan yen and euro), the Government's outstanding debt by the end of this year is estimated to reduce by about VND57 trillion (US$2.4 billion) or a decrease of 2 per cent compared to outstanding debt late last year. Based on the selling rates of the central bank, one US dollar has strengthened by 1.1 per cent in value against one Vietnamese dong since the beginning of this year. Thereby, the Government’s debt balance is estimated at $213 million (or VND5 trillion compared to late 2021). … [Read more...] about Gov’t public debt payment suffers less impact from US dollar appreciation
Aquatic exports drop below US$1 billion in July
Viet Nam’s exports of tuna products to France in the first seven months of the year were 203 per cent higher year-on-year. — VNA/VNS Photo The value of aquatic exports in July fell below US$1 billion for the first time in 2022, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). It was expected to fetch $970 million, up 14 per cent year-on-year and 4 per cent month-on-month. The country’s total aquatic export turnover in the first seven months of this year reached nearly $6.7 billion, an increase of 35 per cent compared with the same period last year. After recording a sharp rise of 34-62 per cent in the first five months of the year, aquatic exports began cooling in June with an increase of just 18 per cent. The decline is mainly due to unfavourable weather, with early rains affecting seafood production. The stockpile of aquatic products from last year has also dropped. Shrimp exports in June decreased by 1 per cent compared to the same period … [Read more...] about Aquatic exports drop below US$1 billion in July
☀️ Morning digest August 10
Hanoi, (VNA) - The following is a list of selected news summaries last night by Vietnam News Agency. - President Nguyen Xuan Phuc hosted a reception in Hanoi on August 9 for Lt. Gen. Hun Manet, Deputy Commander-in-Chief of the Royal Cambodian Armed Forces (RCAF) and Commander of the Royal Cambodian Army. The President expressed his hope that Hun Manet’s visit will significantly contribute to the success of the Vietnam-Cambodia Friendship Year 2022 marking the 55th anniversary of the bilateral diplomatic ties (June 24, 1967). Read full story - The same day, Politburo member and permanent member of the Secretariat of the Communist Party of Vietnam (CPV)’s Central Committee Vo Van Thuong also received Hun Manet, who is also a member of the Standing Committee of the Cambodian People’s Party (CPP) Central Committee. Hun Manet said Cambodia will forever maintain and nurture its friendship with Vietnam and strengthen the bilateral partnership to develop amidst the complex global … [Read more...] about ☀️ Morning digest August 10
Samsung plans to invest US$3.3 billion in Vietnam in 2022
The R&D center in Hanoi, scheduled to be completed by late 2022, would be Samsung’s major R&D hub not only in Vietnam but also the whole of Southeast Asia. Samsung is expected to expand investment in Vietnam with an additional fund of US$3.3 billion, along with an export target of US$69 billion from its manufacturing facilities in the country. Prime Minister Pham Minh Chinh (r) and Samsung CEO Roh Tae-Moon. Photo: Nhat Bac Samsung’s CEO Roh Tae-Moon mentioned the conglomerate's goals in Vietnam during a meeting with Prime Minister Pham Minh Chinh on August 5. According to Roh, Samsung Vietnam exported more than $34.3 billion worth of electronic products during the first six months of 2022, representing an increase of 18% year-on-year. Roh noted the South Korean IT giant is preparing for mass production of semiconductor components at the Samsung Electro-Mechanics Vietnam plant in Thai Nguyen Province from July 2023, and also for the launch the … [Read more...] about Samsung plans to invest US$3.3 billion in Vietnam in 2022
Binh Duong enjoys trade surplus of 6.6 billion USD in seven months
Between January and July, the locality’s export value reached 21.8 billion USD, a rise of 7.1% year-on-year. Meanwhile, its import revenue was nearly 15.2 billion USD, down 5.7 percent year-on-year. Pham Van Xo, Chairman of the provincial Export-Import Association, told Vietnam News Agency (VNA) that businesses had been able to purchase materials at low prices during the COVID-19 pandemic, but only started exports after the pandemic was under control. Moreover, China’s border closure has forced orders to come through Vietnam, leading to higher purchasing power, he added. Xo, however, noted that surging material prices and logistics costs, along with the lack of containers and ships, a limited workforce and increasing labor costs, have affected the supply chain. According to Chairman of the provincial People’s Committee Vo Van Minh, Binh Duong’s index of industrial production in July also rose about 4.7% month-on-month and 22.3% year-on-year. In the seven months, the index … [Read more...] about Binh Duong enjoys trade surplus of 6.6 billion USD in seven months