Category: News

Skyrocketing airline ticket prices since the workforce shortages broadened existed

          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

The Future Economic Plan’s Vietnam

          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

The global economy started generating as the reopening of China

          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

Laos’ Trade Overview in November 2022

          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

Binance faced under investigation for money laundering possibilities

          On December 12, there were reports that U.S. federal prosecutors could move aggressively against Binance and file criminal charges against several individual executives, including Zhao. Since the 2018 investigation of anti-money laundering laws, Binance had been used for illicit funds transferring as seen as suspected criminal sanctions violations and the evidence was gathered. The crypto markets have been shaken among investors since last month’s rapidly collapsed month of FTX. Binance was cemented regarding bankruptcy, accordingly.           Justice Department regulations say that money laundering charges against a financial institution must be approved by the MLARS chief. Leaders from the other two offices, along with higher-level DOJ officials, would likely also have to sign off on any action against Binance. The charges under investigation are unlicensed money transmission, money laundering conspiracy, and criminal sanctions violations. No final charging decisions have been made, though prosecutors consider Zhao and some other executives to be subjects of the investigation, one source familiar with the situation said.           Binance said in September it

Would Japan be in a recession in 2023?

          A report from Marcel Thieliant (senior Japan economist at Capital Economics) stated that the Japanese economy will get into a recession the following year which is driven by a shrinking in exports of which the trade deficit in October dropped more than expected at $15 billion. Comparing the year-on-year record, even though, the export hiked to 25.3% yet  but slower than year-on-year when the import was a hike to 45% Moreover, before Japan released a report on the third quarter of GDP on 8th Thursday, December 2022, Japanese analysts forecasted that GDP would decline to 1.1% for July to September period, after formerly a report that GDP had sunk to 1.2%. However, on 8th December 2022, the report of the third quarter GDP was released, the report mentioned that GDP sank to only 0.8% when which is better than when compared with the forecast’s analysts. Therefore, the Japanese government adjusted increasingly the number of the third quarter GDP, as the determinant is the economy recovered from COVID-19.           Furthermore, analysts predicted

Increasing the 0.25% interest rate in Thailand to 1.25%

          Thai Interest rates have been raised by 0.25% with a unanimous decision of The Bank of Thailand’s Monetary Policy Committee. This 0.25% raised interest rate was validated immediately straight after the meeting summarized on 30 November 2022. This adjustment caused continued increasing interest rates from 1.00% to 1.25% per year which aimed to decline inflation and the steady increase in growth projection rate.           The economic growth rate expectation is projected to reach 3.2% this year, 3.7% next year, and 3.9% in 2024. From the conclusion of the meeting, the committee agreed that the tourism sector is recovering, as obvious by the number of tourist arrivals as well as increasing consumer consumption owing to increased employment and income, even though exports have declined.           Moreover, The Thai Baht seems to be more depreciated against the USD referring to the FED had been hiking the interest rates, and there tend to be more strongly increased than the market expectation. However, the committee will keep an eye on the

Successfully filed for The bankruptcy of BlockFi owing to the FTX collapse

          On 28 November 2022, BlockFi successfully filed for bankruptcy in the US, as the dramatic collapse of FTX continues in the crypto industry to be shaken. Since BlockFi has been a cryptocurrency-leading platform, it previously announced the suspending of customer withdrawals since the business had been severely influenced by the bankruptcy of the FTX on 11 November 2022.         In a court filing of the Chapter 11 bankruptcy, New Jersey-based BlockFi stated that there are more than 100,000 creditors with total assets and liabilities between $1 billion and $10 billion. It listed crypto exchange FTX as its second-largest creditor, with $275m owed on a loan issued earlier this year. Regarding chapter 11, BlockFi has had $256.9m in cash on hand which would be allowed the firm to develop a “reorganization plan that maximizes value for all stakeholders, including our valued clients”.           According to its Chapter 11 plans, BlockFi Wallet customers would be paid back in full and other account holders and creditors would receive a mixture of

The chance of a Recession in the US.

          On 23 November 2022, a Bloomberg reporter mentioned that the FED staff economists were recommending to policymakers that the chance of a US recession in the following year had risen to 50%, as drop-down consumer spending, more world economic risks, and hike of interest rates. The discussion from the conference mentioned the negative factors which are affecting the US economy as follows; decelerating real private domestic spending, sinking global outlook, and intensity in financial conditions. Nonetheless, when compared with Bloombergs’ economists forecasted this month the chance of a US recession in the following year is 65%, based on the median estimate which puts the probability at 100%.           Moreover, the FOMC still voted to raise interest rates by 0.75% for the fourth time in a row to slow inflation. However, the FED showed a signal that it will slow down to tighten financial policy soon. Published 30/11/2022 By Windy K.

An explosion in Poland Killed two near the Ukraine border

         On 16 November 2022, missiles crossed into Poland, killing two Polish citizens and setting off a chain of reactions across the globe. Poland said the missile was Russian-made, calling on the Russian ambassador for an explanation. The explosion, near the Ukraine border, came as Russia launched a massive wave of missiles at Ukrainian cities and energy facilities just before dusk.        While Russia’s Foreign Ministry said on Sunday that the G-20 summit should focus on global economic challenges rather than security issues, after NATO claimed that the deadly missile hit near a Polish village wasn’t a Russian attack, the Polish died. Moreover, If Russia had intentionally targeted Poland, that could have risked drawing NATO into the conflict. Still, Stoltenberg, NATO Secretary-General Jens, and others laid overall but not specific blame on Russian President Vladimir Putin’s war.           Notwithstanding, The euro was last up 0.06% at $1.0331 after falling as much as 0.44%. The euro had earlier risen as much as 1.5% against the greenback following economic data. Currently, The euro