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

          On 2 November 2022, The official Vietnam News Agency reported that some gas stations in Vietnam’s two biggest cities and adjoining districts have temporarily closed related that distributors have been unable to stand their rising costs due to the set gasoline prices by the Vietnamese government, according to industry sources. While the smaller distributors have been intensively affected, discouraging them from supplying owing to the shrunken profit. In addition, gas stations are temporarily closing because of the lack of refineries in the southern part of Vietnam, where Ho Chi Minh City is located and which is about 45% of the country’s demand for oil and petrochemical products.           According to the government-set prices, The commanded prices for oil products resulted in losses as the distributors still had to pay high prices on the international market. Currently, the companies are unable to maintain sufficient stocks. Minister Dien on Friday blamed fluctuations in the foreign exchange rate and difficulties faced by some fuel importers accessing credit from banks for the situation. But he

          On 2 November 2022, FED stepped up its fight against a 40-year high in US inflation by announcing a 0.75 percent point raising the interest rate. The moves aimed at inflation may soon slow down with the cost of living crisis suffering consumers. Powell was speaking after the Federal Open Market Committee voted unanimously to increase the federal funds rate to a target range of 3.75% to 4% as it’s the highest level since 2005.           The impact of raising interest rates takes time to be adjusted through to the wider economy. Meantime, the US real estate market appears to be slowing down but the employment rate remains powerful. However, When the Fed raises interest rates it becomes more expensive for banks to borrow money from one another. Banks pass on these higher rates to consumers by making it more expensive for them to get a mortgage, or a loan, pay off credit card debt, and more.           In addition, The Fed’s predictions show a possible hike

          As the U.S. Federal Reserve (Fed) aggressively raises interest rates, the dollar concentration intensifies, and the value of currencies around the world continues to decline. Between January and September 2022, nine emerging countries which are Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and including Japan used about $89 billion in foreign exchange reserves which is the highest expenditure since 2008.           Only in September, Asia governments spent about $50 billion in foreign-exchange reserves aimed to defend currencies from appreciating the USD. The Chinese government spent almost $30 billion and Japan’s spending reached $50 billion.           According to Bloomberg, Foreign exchange reserves are worldwide decreasing. This year, the stockpile of global reserves fell by more than $1 trillion, or 8.9%, to less than $12 trillion, which is the greatest decrease since Bloomberg began collecting data in 2003. Published 26/10/2022 By Ashley Jones

          According to the report from the General Statistics Office, Vietnam’s Gross domestic product rose 13.67% in the three months ending September from a year earlier. Vietnam currently spends 6 % of its GDP on infrastructure while other countries in the region spend an average of 2.3%, making Vietnam the leading country in ASEAN for infrastructure investment. Moreover, Infrastructure is a critical driver behind Vietnam’s economic growth and FDI.           Foreign investors, especially in high-tech manufacturing, have shifted their production to or expanded investment in the country, which would continue to drive Vietnam’s economic growth for years to come. Vietnam, with its cheap labor, geographic proximity to China, and stable political environment, is a key beneficiary.           Meanwhile, Foreign direct investment (FDI) continued to flow into Vietnam’s industrial property market, accounting for 19 percent of total FDI or US$3.5 billion during the first nine months of the year, doubling the figure recorded during the same period last year. Published 12/10/2022 By Ashley Jones