In a heartening move, Vietnam’s central bank enthusiastically embraced an agreement on Friday, becoming an integral part of a collaborative endeavor involving five other vibrant Southeast Asian nations. This effort is all about establishing seamless cross-border payment mechanisms that foster stronger connections between these countries.
With Vietnam’s entry, a powerful coalition forms, including Indonesia, Malaysia, Thailand, the Philippines, and Singapore. Together, they are committed to weaving a web of interconnectivity by harmonizing their respective payment systems. What’s truly exciting is the adoption of the QR (quick response) code system for everyday retail transactions, making monetary interactions swift and straightforward.
This exciting agreement was hatched during a gathering of ASEAN’s 10-member community, where finance ministers and central bank governors came together in Jakarta. But that’s not all – Indonesia, Malaysia, and Thailand have set their sights on another vital phase, aiming to facilitate cross-border transactions involving financial assets such as equities and government bonds, all denominated in local currencies.
Bank Indonesia governor Perry Warjiyo shared his optimism during a press conference, noting, “Our objectives stretch beyond just simplifying trade and investment. We’re also bolstering our collective resilience against the unpredictable shifts in exchange rates and the global influence of institutions like the Fed.”
Indonesia has already taken strides in this direction, successfully linking its payment system with Thailand and Malaysia using QR codes. The next target on their radar is Singapore, with plans to establish this connection later in the year. With ASEAN encompassing over 600 million individuals, this collaborative effort is a significant step forward, aiming to integrate economies collectively valued at a staggering $2.3 trillion. The long-held vision of economic integration, enriched through harmonized standards, customs procedures, and increased market connectivity, is now gaining momentum after years of anticipation.
The European Union (EU) is launching investigations into tech giants Apple, Google, and Meta (Facebook’s parent company) over concerns they might not be following a new law designed to promote fair competition in the digital market.
Google Chrome is on the brink of initiating a seismic shift that threatens to reshape the very foundation of the modern internet. The imminent demise…
In a highly anticipated market debut, Reddit stock took off, closing its first day of trading with a staggering 48% surge from its initial public offering (IPO) price of $34 per share. The social media giant’s stock concluded the day at $50.44, propelling its market capitalization to over $8 billion.
In a significant move in Vietnam’s corporate landscape, Vingroup, the country’s largest conglomerate, has completed the sale of a 41.5% stake and other assets in its retail arm, Vincom Retail, for a staggering $1.6 billion. This transaction ranks among the largest mergers and acquisitions (M&A) deals in Vietnam in recent years, underscoring the dynamism of the country’s economy and corporate sector.
The integration of artificial intelligence (AI) into various facets of healthcare has revolutionized patient care, and its impact on surgery is poised to be profound. Leveraging AI’s capabilities to connect, analyze, and predict based on operating room data holds the promise of enhancing surgical efficiency and clinical decision-making. Recognizing this potential, NVIDIA has partnered with Johnson & Johnson MedTech to explore new AI capabilities within the realm of surgery, with the goal of advancing the company’s connected digital ecosystem for surgical procedures.
Apple is reportedly in discussions with Alphabet, Google’s parent company, regarding the licensing of Google’s “Gemini” artificial intelligence (AI) training model for integration into iPhones.
An Illinois jury has delivered a significant verdict in a case involving Mead Johnson’s Enfamil baby formula, ordering the company to pay $60 million to the mother of a premature baby who died from an intestinal disease after consuming the formula.
In the fast-paced world of software development, innovation is the name of the game. Cognition, a leading tech company, has introduced a groundbreaking solution that promises to transform the industry as we know it: Devin AI, the world’s first AI software engineer. Devin AI is not just another tool in the developer’s toolbox; it’s a game-changer that leverages the power of artificial intelligence and machine learning to automate coding tasks and streamline the development process.
When it comes to acing a job interview, there are certain tactics that can help you stand out and impress prospective employers. From showcasing your passion for the role to demonstrating problem-solving skills, there are plenty of strategies to employ. However, it’s equally important to be mindful of phrases that could raise red flags during the interview process.
The ongoing saga between the United States and ByteDance, the Chinese tech giant behind the popular social media platform TikTok, has taken another turn. With the House approving a bill requiring ByteDance to divest TikTok within roughly six months, the possibility of a forced sale or effective ban looms large.
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Cultural differences between the East and the West
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Vietnam received recognition in the 29th World Travel Awards in numerous categories
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Vietnamese dishes that fascinate foreigners
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First NFT vending machine in the world is now operational in New York
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The LEGO Group today began construction on a new $1 billion factory in Binh Duong, Vietnam
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