Latest news with #Huan
See - Sada Elbalad
15-07-2025
- Business
- See - Sada Elbalad
Amid Rising Gold Price Disparity, Vietnamese Economist Urges Flexible Government Intervention for Market Stability
Waleed Farouk As the gap between domestic and global gold prices widens, Associate Professor Nguyen Huu Huan of the University of Economics in Ho Chi Minh City has called for flexible and phased government policies to regulate Vietnam's gold market. In an interview with Vietnam Economic Times, he emphasized the importance of balancing domestic market stability with the country's growing financial openness. Containing the Price Gap Between Domestic and Global Gold Markets Dr. Huan believes that proposals to increase gold imports to reduce the domestic-global price gap pose risks to foreign exchange reserves and exchange rate stability. Instead, he suggests that gold import quotas for licensed companies be tied to periods of trade or balance-of-payments surpluses, allowing for more imports when the economy is flush and limiting them during deficits. He also emphasized that import rights should remain with specialized gold businesses, selected based on their financial strength, production capacity, and market reputation. Granting import rights to state-owned banks, which are not directly engaged in gold trading, would create unnecessary intermediaries and widen the price gap. He further warned against repeating the pre-Decree No. 24 (issued in 2012) scenario, when excessive liberalization led to a proliferation of counterfeit and low-quality gold due to weak regulatory oversight. A Gold Credit Market: Unlocking Idle Capital for Development Dr. Huan proposed establishing a gold credit market as a mechanism to mobilize idle gold reserves hoarded by individuals and convert them into productive capital. Under this system, depositors would receive State Bank of Vietnam (SBV)-guaranteed gold ownership certificates, which could be traded or redeemed for physical gold later. This mechanism would enhance the government's ability to fund major infrastructure projects, such as high-speed railways and metro lines, without relying on foreign debt. It would also curb speculative behavior and reduce the public's demand for physical gold. In this context, Dr. Huan sees the creation of a gold exchange as a crucial step toward formalizing gold trading. Gold accounts could be linked to global benchmark prices, thereby narrowing the domestic-global price spread to less than 1%. A Roadmap for Building a Modern Gold Exchange in Vietnam Dr. Huan advocates a phased and cautious approach to developing Vietnam's gold exchange. This would begin with establishing a clear legal framework, including rules for trading, quality standards, custody and settlement mechanisms, and anti-money laundering (AML) protocols. He recommends starting with non-physical gold trading, supervised by the SBV and implemented through major financial institutions, to test digital infrastructure and settlement systems. Once this foundation is secure, physical gold trading could be introduced. In the medium term, advanced financial instruments such as futures and options could be added, while gradually broadening participation to include banks, investment institutions, and qualified retail investors. In the long term, Vietnam could offer complementary gold-backed financial services, including gold loans, insurance, and asset management. Linking the domestic gold exchange to international markets would further enhance Vietnam's status in the global financial system. Risk Management: A Pillar of Market and Financial System Stability The report stresses the need for robust regulatory oversight to prevent speculation, manipulation, and money laundering in the gold market—factors that could undermine macroeconomic stability and investor confidence. Recommended measures include establishing early warning systems, setting daily trading limits, regulating financial leverage, and integrating the exchange with the official banking settlement system. Full market transparency must be ensured through real-time publication of prices, trading volumes, and large transactions. Moreover, Dr. Huan calls for strict enforcement of AML regulations, anti-terror financing laws, and know-your-customer (KYC) protocols, especially for high-risk foreign transactions. Recommended Location: Ho Chi Minh City's International Financial Center The report concludes by recommending that the gold exchange be headquartered at the International Financial Center (IFC) in Ho Chi Minh City, citing its superior financial infrastructure, skilled workforce, and global market connectivity. Positioning the exchange in the IFC would attract international financial institutions, boost liquidity, and enhance market competitiveness. It would also support the development of a secure, digital, and transparent gold market that serves both investor needs and the broader goal of macroeconomic stability. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Hype Malaysia
19-06-2025
- Entertainment
- Hype Malaysia
Malaysian Couple Goes Viral With School Bus-Themed Wedding Convoy
Planning a wedding is a special occasion as it acts as a tribute to a couple's journey together that results in matrimony. Every minute detail should come into consideration, whether it be expensive wedding convoys or simply applying nostalgia into the planning, couples have every right to decide what they want for their special day. Malaysian couple, Huan and Loh, have taken their high school history to their wedding planning in the form of a traditional yellow school bus. Photos from the couple show the pair in their wedding attire atop a yellow school bus, paying homage to their meeting in secondary school. The lovebirds had met in high school at the age of 14 through a shared club. The pair often participated in school activities together, which made them grow closer as friends. Despite knowing each other in their teens, their romance only started in university. The groom, Huan, said the idea of opting for a school bus solidified as the couple saw a similar concept online. 'We met in secondary school, so we wanted to bring some campus elements into our wedding', he told reporters. However, securing the perfect bus was no easy feat, as he admitted that it was quite the challenge looking for one that had the right size and feel. However, their efforts have paid off as the touch of nostalgia proved to add a unique flair to their special day. Not only was their wedding convoy styled in a high school era concept, but the pair was also seen with a reel of them transitioning from school clothes to their wedding attire for their reception. Congratulations to Huan and Loh on their wedding and kudos on the creative convoy! Source: Instagram Alyssa Gabrielle contributed to this article. What's your Reaction? +1 0 +1 0 +1 0 +1 0 +1 0 +1 0
The Star
12-05-2025
- Business
- The Star
Trial of the former Vietnamese deputy minister in rare earth case opened
HANOI: The trial of the case of Thai Duong Company and related units illegally exploiting rare earth at the Yen Phu mine in Yen Bai Province opened in Hanoi on Monday (May 12). Among 27 defendants on trial, seven are former leaders and employees of the Ministry of Natural Resources and Environment and the Department of Natural Resources and Environment of Yen Bai Province. They are prosecuted for the crime of "violating regulations on management and use of State assets causing loss and waste" as defined under the Penal Code. They are Nguyen Linh Ngoc, former deputy minister; Nguyen Van Thuan, former director of the General Department of Geology and Minerals; Hoang Van Khoa, former director of the Department of Minerals (belonging General Department of Geology and Minerals); Le Duy Phuong, former senior specialist of the Department of Minerals; Ho Duc Hop, former director of the Department of Natural Resources and Environment of Yen Bai Province; Le Cong Tien, former deputy director of the Department of Natural Resources and Environment of Yen Bai Province; Bui Doan Nhu, former deputy director of the Sub-department of Environmental Protection of Department of Natural Resources and Environment of Yen Bai Province. The other 20 defendants are directors, deputy directors, accountants and staffs of companies of Thai Duong, the Vietnam Rare Earth Joint Stock Company, the Truong Son War Invalid Joint Stock Company, Duong Lieu Logistics Company, Hop Thanh Phat Transport Company, Atexim Company and HUYHUANG Company. The charge is for: "violating regulations on resource exploitation, accounting causing serious consequences, and causing environmental pollution, smuggling, and receiving property obtained through criminal acts." According to the indictment by the Supreme People's Procuracy, this is an especially serious case related to the exploitation, business operations, export and State management of mineral resources. Doan Van Huan, acting as the head of Thai Duong Company, organised and directed the illegal mining of rare earth and iron ore at the Yen Phu mine between 2019 and 2023. The total value of illegally extracted minerals is over VNĐ864 billion (US$34 million), of which Huan and his accomplices sold ores worth more than VNĐ763 billion ($30 million). Huan also directed the creation of two accounting systems, causing a tax loss of over VNĐ9.6 billion ($380,000) to the State. In 2012, the Ministry of Natural Resources and Environment assigned Deputy Minister Nguyen Linh Ngoc to oversee matters relating to geology and minerals, and to supervise the General Department of Geology and Minerals – the agency responsible for receiving and evaluating applications for mineral exploitation licence. Previously, in 2011, the general department received a licence application for rare earth mining at Yen Phu mine from Thái Dương Company. Ngoc then signed a report to the Prime Minister recommending the issuance of the licence, stating that 'the application dossier meets all requirements.' The Government Office then issued a document instructing relevant ministries to direct the investor to formulate a project on deep processing of rare earths, along with an environmental impact assessment report. The PM also issued a directive to strengthen State management over the exploration, mining, processing, use and export of mineral resources. Following this directive, Thai Duong Company prepared an investment project for a rare earth deep processing complex, including a hydrometallurgical plant in Yên Bái and a separation-processing plant in Dinh Vu of Hai Phong City. Subsequently, on December 14, 2012, the Government Office sent a document to the Ministries of Natural Resources and Environment, and Industry and Trade, and the People's Committee of Yen Bai Province to convey the Prime Minister's opinion: 'In principle, approval is granted for the exploitation and processing of rare earth ores at Yen Phu, provided that the ores are deeply processed, no raw ores are exported, and all legal obligations under the Mineral Law are fulfilled; the exploitation rights must not be transferred to foreign organisations or individuals.' Upon receiving this document, Deputy Minister Nguyen Linh Ngoc instructed the General Department to finalise the licensing procedures for Thai Duong Company. At that time, the project had changed in both scale and nature. It was no longer just a mining and ore-processing project, as initially proposed in 2011, but included three inseparable components of mining and ore-processing project, the hydrometallurgical plant in Yên Bái and the separation-processing plant in Hai Phong. However, Thai Duong Company's application dossier only included an investment certificate for the mining and ore-processing project, issued by the Yen Bai Province People's Committee in 2011 (which expired in 2012) and had not been renewed or reissued. There were no investment certificates for the hydrometallurgical plant in Yên Bái or the separation-processing plant in Hai Phong. Furthermore, Thai Duong Company's equity capital did not meet the legal requirement of 30 per cent of the project's total investment (having only VNĐ200 billion ($7.9 million) compared to a total investment of VNĐ1.953 trillion ($77 million), which violated the Mineral Law. Nevertheless, officials at the General Department still used the 2011 appraisal results to submit the application. Deputy Minister Nguyen Linh Ngoc, despite reviewing and knowing that Thai Duong Company did not meet the necessary conditions, still signed off on the licence in 2013. The procuracy concluded that the actions of the leaders and officials at the Ministry of Natural Resources and Environment contributed to enabling Huan to illegally exploit and sell rare earth and iron ore worth a total of VNĐ736 billion ($29 million). The trial is expected to last ten days. - Vietnam News/ANN
Business Mayor
21-04-2025
- Automotive
- Business Mayor
China's CATL says it has overtaken BYD on 5-minute EV battery charging time
CATL has unveiled upgraded battery cells it claims can offer faster charging for electric vehicles than its rival BYD, putting the two Chinese groups ahead of competitors in the race to overcome a major barrier to the shift away from petrol vehicles. The world's biggest electric vehicle battery maker said on Monday that a new version of its flagship Shenxing battery cell could offer a 520km range from just five minutes of charging time. Last month, BYD shocked the industry by unveiling a charging system that could add about 470km in range to its batteries in about the same time. The claims by the Chinese battery groups would put them ahead of major western rivals. At present, Tesla vehicles can be charged up to 200 miles (321km) in added range in 15 minutes, while Germany's Mercedes-Benz recently launched its all-electric CLA compact sedan, which can be charged for up to 325km within 10 minutes using a fast-charging station. Analysts have said the deployment of high-speed charging systems from BYD and CATL will help to eradicate consumer fears about EV driving range, even though there are questions as to how fast the companies can bring these technologies outside China amid rising geopolitical tensions. The second generation of the Shenxing battery, which boasts a range of 800km on one charge, can achieve a peak charging speed of 2.5km per second, the company said at a media event ahead of this week's Shanghai auto show. 'We look forward to collaborating with more industry leaders to push the limits of supercharging through true innovation,' said CATL's chief technology officer Gao Huan, adding that he wanted the new batteries to become 'the standard for electric vehicles'. Huan said the new Shenxing battery would be installed in more than 67 EV models this year. He later told reporters that energy density would not be sacrificed as a trade-off for fast charging. During its tech day, CATL also unveiled its new sodium-ion battery, which it said would go into mass production in December. The battery brand called Naxtra is able to give a range of about 200km for a hybrid vehicle and 500km for an electric vehicle, according to Huan. Sodium-ion batteries are seen as a cheaper and safer alternative to the lithium-based batteries widely used for energy storage, because they work better at both very high and low temperatures. But the amount of energy they can produce relative to their size has long lagged behind lithium batteries, making sodium cells impractical until now. The new technology has also been closely watched as a potential solution to reduce the world's dependence on China for critical minerals, since sodium-ion batteries do not use lithium resources. At the event, Huan claimed the new sodium-ion battery would enable the industry's shift from 'single resource dependence' to 'energy freedom' and reshape the global energy landscape. He added that he was in discussions with several companies about using sodium-ion batteries in their vehicles. – Copyright The Financial Times Limited 2025
Irish Times
21-04-2025
- Automotive
- Irish Times
China's CATL says it has overtaken BYD on 5-minute EV battery charging time
CATL has unveiled upgraded battery cells it claims can offer faster charging for electric vehicles than its rival BYD, putting the two Chinese groups ahead of competitors in the race to overcome a major barrier to the shift away from petrol vehicles. The world's biggest electric vehicle battery maker said on Monday that a new version of its flagship Shenxing battery cell could offer a 520km range from just five minutes of charging time. Last month, BYD shocked the industry by unveiling a charging system that could add about 470km in range to its batteries in about the same time. The claims by the Chinese battery groups would put them ahead of major western rivals. At present, Tesla vehicles can be charged up to 200 miles (321km) in added range in 15 minutes, while Germany's Mercedes-Benz recently launched its all-electric CLA compact sedan, which can be charged for up to 325km within 10 minutes using a fast-charging station. READ MORE Analysts have said the deployment of high-speed charging systems from BYD and CATL will help to eradicate consumer fears about EV driving range, even though there are questions as to how fast the companies can bring these technologies outside China amid rising geopolitical tensions. The second generation of the Shenxing battery, which boasts a range of 800km on one charge, can achieve a peak charging speed of 2.5km per second, the company said at a media event ahead of this week's Shanghai auto show. 'We look forward to collaborating with more industry leaders to push the limits of supercharging through true innovation,' said CATL's chief technology officer Gao Huan, adding that he wanted the new batteries to become 'the standard for electric vehicles'. Huan said the new Shenxing battery would be installed in more than 67 EV models this year. He later told reporters that energy density would not be sacrificed as a trade-off for fast charging. During its tech day, CATL also unveiled its new sodium-ion battery, which it said would go into mass production in December. The battery brand called Naxtra is able to give a range of about 200km for a hybrid vehicle and 500km for an electric vehicle, according to Huan. Sodium-ion batteries are seen as a cheaper and safer alternative to the lithium-based batteries widely used for energy storage, because they work better at both very high and low temperatures. But the amount of energy they can produce relative to their size has long lagged behind lithium batteries, making sodium cells impractical until now. The new technology has also been closely watched as a potential solution to reduce the world's dependence on China for critical minerals, since sodium-ion batteries do not use lithium resources. At the event, Huan claimed the new sodium-ion battery would enable the industry's shift from 'single resource dependence' to 'energy freedom' and reshape the global energy landscape. He added that he was in discussions with several companies about using sodium-ion batteries in their vehicles. - Copyright The Financial Times Limited 2025
