Melnie Beam

Futurist with a passion for the potential of Web3, NFTs, gaming, and crypto.

My dream car !!

Luxury brand reps nearly triple Vietnam profits Vietnam’s distributors of luxury brands such as Louis Vuitton, Chanel, Dior and Hermes posted VND3.8 trillion ($156.57 million) in 2022 profits, up 270% year-on-year, according to latest data from a market research company. The combined revenues of 12 companies that distribute 34 luxury brands surged 67% to VND25 trillion, Vietdata announced in a report. The grouping’s other notable brands included Rolex, Calvin Klein, Charles & Keith, Zara. Of the companies that distribute a variety of brands, Tam Son ranked top with a VND4.75 trillion revenue and a profit of VND849 billion. The company distributes the largest number of top-tier brands brands in Vietnam, including Hermes, Kenzo, Boss, Patek Philippe and Vacheron Constantin.

HSBC pegs Vietnam’s growth at 6% in 2024 Vietnam’s GDP is on a firm recovery track and growth can reach 6% this year, according to lender HSBC. The country ended last year with a 5.1% growth, but in the last quarter alone the economy expanded 6.7%, showing a glimmer of hope for better growth prospects going forward, the U.K.-based bank said in a recent report. The manufacturing sector, one of Vietnam’s key growth engines, saw a notable improvement in the second half of the year from extreme sluggishness in the first.

Nadal roars back with 'emotional and important' win over Thiem Rafael Nadal won his first match back from a year-long injury layoff when he beat former U.S. Open champion Dominic Thiem at the Brisbane International on Tuesday, calling it an "emotional and important day." The 22-time Grand Slam winner looked in superb touch with a clinical 7-5, 6-1 victory over the Austrian in front of a full house at Pat Rafter Arena.

French, Japanese most popular foreign languages in school after English After English, the most popular foreign languages learned in Vietnam are French and Japanese, according to a report by the education ministry. Reporting on education reform in the 2013-2023 period, the Ministry of Education and Training said foreign language studies have seen positive developments. English education for kindergarteners has begun in 61 out of the country's 63 provinces and cities. Besides English, 41 localities are also teaching students other foreign languages, with 60,000 of them opting for them. The most popular is French, which is studied by 30,800 students, followed by Japanese and Chinese. They are taught at primary, middle and high school levels, while German, Korean and Russian are not taught in primary school.

Vietnam among world's top 25 economies by 2038: UK think tank Vietnam and the Philippines are the two economies in Southeast Asia that are projected to make a big leap in the World Economic League Table (WELT) between 2023 and 2038, according to the Center for Economics and Business Research (CEBR). The center forecasts that Vietnam will move swiftly up the WELT rankings, from 34th position in 2023 to 24th in 2033 and 21st in 2038 while the Philippines will reach 23rd place by 2038.

Stores packed with gold traders as prices swing Jewelry stores were filled with customers Friday as gold traders sought opportunities to either sell or buy amid strong fluctuations of the precious metal. Over 30 people could be seen at 2:45 p.m. at a Saigon Jewelry Company (SJC) store in District 1, Ho Chi Minh City, all making gold transactions. "I expect to sell at VND74 million per tael ($3,049.67) but due to fear of a decline I sold it at VND73 million," said a person who just sold three taels. A tael equals 37.5 grams or 1.2 ounces. As of 3:15 p.m. staff were still busy with gold transactions. A store of Mi Hong gold and jewelry chain in Binh Thanh District also saw many customers Friday afternoon. Some even traded 20 taels, or VND1.46 billion in value. "The store is still busy but there are less customers than three days ago when prices hit a record high," an employee said, adding that many bought at that peak level with expectations of further increases. Vietnam gold bar prices have been posting strong changes this week. After reaching a new height of VND80.3 million on Tuesday, gold has now slipped to around VND76 million Friday afternoon. But as prices vary greatly within a day, many people struggled to make decisions. A woman in HCMC in the morning wanted to sell at VND74 million but could not make it in time before the lunch break. When she returned in the afternoon, prices had fallen to VND72 million. She decided to wait at the store for prices to go up again. "Prices change every hour. It is like gambling," she said. In Hanoi, many sold their gold bars early morning at stores on Tran Nhan Tong Street in Hai Ba Trung District due to fear that prices would drop after Prime Minister Pham Minh Chinh ordered authorities to narrow the gap between domestic and global rates. The Vietnam gold price is now around 30% higher than the global rate. Others, however, are seeking to buy more gold as a safe-haven asset. "Deposit interest rates are too low. There is nothing as secure as gold in the long run," said Hung, a buyer. Analysts have said that Vietnam’s gold supply has remained mostly unchanged for years while demand continued to rise, and this has made gold prices increase. The State Bank of Vietnam said that recent fluctuations in gold prices were mostly caused by investor sentiment as global gold prices surged.

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