President Joe Biden and Republican leaders have expressed cautious optimism that a deal to raise the US debt ceiling is within reach, following emergency talks at the White House. Without a deal, the US could enter a calamitous default on its $31.4tr (£25tr) debt as soon as 1 June. A failure by the US government to meet its debt obligations could trigger global financial chaos. The Democratic president said Tuesday’s hour-long Oval Office meeting was “good, productive”, sounding upbeat about the prospects of an agreement. Mr. McCarthy said afterward he believed a deal was possible by the end of this week. In exchange for support for raising the debt ceiling, Republican leaders are demanding budget cuts. They also want tougher work requirements for government aid recipients. Published on 24/05/2023 By Michael S.  

          Since the inflation has eased yet remains rising, additionally, Russia’s war in Ukraine isn’t impacted much but causing the global uncertainty mentioned by FED.  In its Feb. 1 policy decision, the Fed raised the target range for benchmark interest rates by another 0.25%, setting the range at 4.5%-4.75%, the highest since 2007.         With unanimous voting in favor of the rate increase, FED policymakers mentioned in a policy statement that “ongoing increases” in interest rates will likely be appropriate to obtain a monetary policy stance that is “sufficiently restrictive” — in effect countering the recent easing in financial conditions that has resulted from higher stock prices and a moderation in rates for Treasuries and other bonds.         Meanwhile, Thailand’s finance minister, Arkhom Termpittayapaisith, mentioned that Thailand’s interest rate has been reasonably adjusted, and raising too much will sharply drag down the economy which is getting better. Even the private sector said the baht was too strong, “but it’s not very strong,” and “The baht is strengthening on the fundamentals

          Since Russia was threatened to be boycotted by the western, Russia plans to cut its oil production output by 500,000 barrels a day in March. This movement caused sharp increasing oil prices.         Regarding the Russian announcement, Oil Market has been turmoiled causing disruption to the Russian demand. It further tightens supply constraints from OPEC+, which Saudi Arabia had already led into a 2 million barrel-a-day production cut last year in an effort to buoy prices. Delegates from the group signaled they won’t take any action to fill in the gap created by Russia.          Russia’s reduction is equivalent to about 5% of its January output. The Kremlin has repeatedly hinted at such a move since the European Union and the Group of Seven industrialized countries began discussing capping the price of Russian crude and refined product exports amid the war in Ukraine.          “Russia believes that the mechanism of price caps on Russian oil and petroleum products is an intervention in market relations and an

          On 1 February 2023, A 2-year mark the Myanmar military initiated a deadly coup, ripping the country out of democratic transition. Mobile payments have become more common use in Myanmar after a severe shortage of cash pushed consumers to explore digital alternatives.           Since last year, the regime has frozen the bank accounts and mobile money wallets of people who give financial support to the anti-coup resistance. Subsequently, The military junta maintains command of Myanmar’s banking system to keep a complete record. It has imposed increasingly authoritarian rules on either transferring or receiving mobile payments to keep personal information through its mobile wallet apps.           The military government is supportive of this shift. At a January meeting with electronic payment companies, the Myanmar central bank called for reducing the use of cash and promoting the use of QR codes and payment apps. Currently, Some are now avoiding mobile payments altogether, fearing attention from the authorities. Published 10/02/2023 By Ashley Jones

          On Friday, 20 January 2023, The Bank of the Lao PDR (BOL) issued a statement that stated further measures to restrain the depreciation of its currency. In addition, the notice states demanding that 113 exchange businesses affiliated with the 6 commercial banks temporarily suspend their operations as well as revoke the business licenses and instruct the banks to discontinue their contracts with these businesses. BOL will now proceed to close the deposit accounts of registered currency exchange businesses that worked with commercial banks. Exchange businesses have been urged as well to return any contracts or agreements to the Department of Monetary Policy or the relevant departments of the BOL by 31 January. In accordance, The individuals or entities must first obtain the proper license from the central bank for the purpose. Moreover, the exchange businesses for the tourism or hospitality industry are only allowed. This was done to control the exchange rates of foreign currencies within the country. Published 02/02/2023 By Ashley Jones

          E-CNY is a digitized version of China’s cash and coins transferred using its blockchain ledger. Those experts have been monitoring efforts in China and other countries developing and piloting central bank digital currencies (CBDCs) to establish blockchain-based virtual cash that is cheaper to use and faster to exchange, both at home and across international borders.          Starting from December 2022, e-CNY in circulation has been included in the amount of currency in circulation. Showing currently, the Bank of China has distributed the digital yuan to 15 of China’s 23 provinces, and it has been used in more than 360 million transactions totaling north of 100 billion yuan, or $13.9 billion.         These changes in the money supply reserved by the central bank are arrived grew at 15.3%, the fastest pace in 11 months, to 10.5 trillion yuan in December 2022, with the digital yuan representing only 0.13% of the total. According to the data, The number seems didn’t show significant changes. “What needs to change is the digital yuan

          Like many industries,  staff shortages were a long-running problem before the pandemic but the pandemic made it much worse as airlines were forced to furlough or let go of workers in their thousands. Because of this shortage, The result has been long queues at airports, lost luggage, long layovers, and acute disappointment. Even to phone customer service, the line has been holding for over an hour and others faced the prospect of being separated from their children.        Not only the service workforce as the ground service providers, but also stewards, air hostages, and pilots have been insufficient to meet the demand. The laborers are job specialized which costly training and high qualified. A period of time is needed to be gradually adapted to the circumstances.         After the pandemic seems to be more rapidly recovered, industries related to tourism sectors soared in fuel demand. In addition, winter conditions as well as worsened the global economy affected by the Ukraine war keep fuel price raising and lead to higher prices

          According to Vietnam’s GDP 2022 report, it stated that GDP per capita is VND 95.6 million ($4,100), which rose to 10.8% in 2021. Hence, the Vietnamese government regulates and expects to achieve an average GDP growth of 6.5-7.5% annually and raise the GDP per capita to $27,000-$32,000 within the year ranges of 2030-2050.           Minister of Planning and Investment, Nguyen Chi Dung mentioned that Vietnam will be prioritized as the North-South economic corridor covering two East-West economic corridors which are namely Lao Chi-Hanoi-Hai Phong-Quang Ninh and Moc Bai-Ho Chi Minh City-Vung Tau. Also, focusing on major industrial sectors and being prioritized as high-technology and digital transformation, along with having plans to establish regional and global financial centers. Besides that, To be achieved the VND 4,830 trillion goals for average growth of 7% needs to actuate the triple amount from the 2011-2022 period to around VND 1,500 trillion.                Nonetheless, Vu Hong Thanh, chairman of the National Assembly’s Economic Committee remarked that the intense investment plan

          Since China government has announced travel changes that will ease travel into the country and is expected to prompt a rebound in Chinese traveling abroad. Asian share market rose on 27 December 2022, after China said it would drop its quarantine requirements for inbound visitors, further easing three-year border controls to restrain COVID-19.           Despite local infection, cases currently surged, and China policy required three days of quarantine at a centralized facility instead of five days. On 8 January 2023, it stated that the 48-hour negative PCR test result no longer needed to be shown at customs before departure as well as no longer need to quarantine upon arrival on the mainland which will downgrade the seriousness of Covid-19 since has become less infectious and will gradually evolve into a common respiratory infection.           According to Covid earlier locked down, It has been a difficult time for the Chinese travel industry. Quarantine, strict lockdown policies, and inconvenience have all been listed as reasons for postponing domestic and

          The Lao Trade Portal reported that the trade deficit in November was $45 million a number shown better than September as well as October that sum of $233 million and $230 million. In November, the total Laos trade was $1.08 billion, the exports totaled $519 million, and the imports totaled $564 million, calculated as a trade deficit of $45 million.         In November, Laos’ primary exporting goods and products contained gold and gold bars, wood pulp and waste paper, asphalt, potassium chloride, gold ore, clothes, sugar, shoes, and bananas which the top 5 countries Loas exporting goods and products are China, Vietnam, Thailand, Australia, and Hong Kong.        Furthermore, the main imports were diesel, mechanical equipment, land vehicles, gems,  wood pulp, waste paper, steel and steel products, gasoline, plastic products, electrical appliances and equipment, and vehicle spare parts which importing them mostly from Thailand.           Meanwhile, on 15th December 2022, the Laotian Times reported that exporting Laos’ electricity increased to 7.5% in 2022, and earned $1,769