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

          On 21 September 2022, the federal funds rate brings it to a range of 3% to 3.25%, the highest it’s been since 2008 announced by the FED during a news conference following a meeting of the Federal Open Market Committee (FOMC). It was the 5th increase in the interest rate this year. In this resolution in order to reduce US inflation since 1980, the employment rate tends to be increased which increasing the interest rate might also increase the recession as well.           The central bank signaled more raises to come, predicting rates would reach 4.4% by the end of the year and not start coming down until 2024. In addition, The Central bank around the world would raise interest rates sharply as they too attempt to attack the cost of living crisis.         This hike made the Baht weaken. On the same day, the Baht was recorded to depreciate in 16 years which is 37.34 THB/USD. Thailand’s finance minister says his country is in no hurry to

          On 5th September 2022, Binance announced that it to stop supporting USDC and other stablecoins on its platform. Binance would convert customers’ holdings of the USD Coin (USDC), Pax dollar (USDP), and TrueUSD (TUSD) into Binance USD (BUSD) on 29 September 2022, and customers transferring those tokens to the exchange will see them automatically converted into Binance’s stablecoin after that date. However, customers will be able to withdraw money denominated in USDC, USDP, or TUSD when removing money from Binance.           However, Circle CEO Jeremy Allaire on Tuesday 6, September tweeted a suggestion that the move might ultimately benefit USDC, as Binance customers will still be able to deposit and withdraw funds in the form of USDC, but they will not have to manually convert those funds into Tether or BUSD to participate in Binance offerings like margin trading.          Binance, The world’s largest cryptocurrency exchange, said the move was designed to “enhance liquidity and capital-efficiency for users.” Furthermore, Binance didn’t mention why the changes don’t involve Tether’s