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The paper highlights progress in attracting investors for the Sizewell C nuclear power plant. On April Fool’s Day, various MPs engaged in humorous pranks, while Shadow Justice Secretary Robert Jenrick briefly retweeted a controversial post before deleting it. In international news, China conducted military drills near Taiwan, and National Rally President Jordan Bardella expressed support for Marine Le Pen following her embezzlement conviction.
Qualcomm has acquired the generative AI division of VinAI, a Vietnamese startup. This strategic move highlights Qualcomm's commitment to enhancing its capabilities in the rapidly evolving AI landscape. The acquisition is expected to bolster Qualcomm's position in the technology sector.
Barclays has lowered its price target for Dow Inc. to $38 from $44 while maintaining an equal-weight rating. Dow specializes in manufacturing and marketing a range of products, with net sales primarily from basic plastics (50.7%), elaborate plastics (27.6%), and performance chemicals (20%). Geographically, sales are distributed across the U.S. and Canada (38.2%), Europe/Middle East/Africa/India (32.5%), Asia/Pacific (17.9%), and Latin America (11.4%).
SpaceX is set to establish its first Starlink ground station in Danang, Vietnam, with operations anticipated to start in May or June 2025. The initiative is part of a five-year pilot program allowing full foreign ownership, with plans for 10 to 15 stations nationwide. The initial investment is estimated at $3 million, though the project's future may be impacted by potential U.S. tariffs on countries with significant trade surpluses, including Vietnam.
Vietnam's fintech landscape is rapidly evolving, with QR code payments now dominating transactions, replacing cash as the primary payment method. Major players like MoMo and ZaloPay are transforming into AI-powered super apps to adapt to regulatory changes and a funding drought. Meanwhile, efforts are underway to regulate cryptocurrencies, moving them out of a legal gray area.
Three banks in Vietnam have recently reduced their deposit interest rates. BVBank lowered rates by 0.1% for terms of 6 to 12 months, with a maximum of 5.55% for a 12-month term. LPBank also cut rates by 0.1%, offering 5% for 12 months and 5.3% for longer terms, while VPBank's rates decreased by 0.1% across all deposit conditions, with a peak of 5.4% for 24 and 36 months. Approximately 27 banks have followed suit in adjusting rates downwards.
Vietnam's fintech landscape is rapidly evolving, shaped by new regulations that aim to foster innovation while ensuring consumer protection. As the sector grows, stakeholders must navigate these changes to leverage opportunities and address challenges in this dynamic market.
Cake by VPBank has been awarded "Best Digital Bank in Vietnam" and is the only Vietnamese digital bank in The Asian Banker Insight's Top 100 Best Global Digital Banks 2025. With over 5 million customers and significant growth in deposits and loans, Cake aims to enhance financial inclusion through advanced technology and AI-driven services.
Vietnam has authorized SpaceX to conduct a trial of its Starlink satellite internet service until the end of 2030. This initiative will provide both fixed and mobile internet services, including connectivity for flights, with a limit of 600,000 subscribers during the trial. There are no restrictions on foreign ownership, although it remains unclear if SpaceX has applied for a formal operating license in the country.
Vietnam has approved SpaceX's Starlink services and announced tariff cuts on several U.S. products, including liquefied natural gas and automobiles, as part of efforts to reduce its significant trade surplus with the U.S. The tariff on LNG will drop to 2%, while automobile tariffs will decrease to 32%. These measures aim to strengthen trade relations and mitigate potential U.S. tariffs amid ongoing trade discussions.
VNM
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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