Rising US prices Fed chief is dampening Inflation concerns

Status: 23.06.2021 9:39 a.m.

The head of the US Federal Reserve sees the reason for the current high inflation primarily in the recovery of the economy. The unexpectedly strong effects would soon fade, Powell said.

By Torsten Teichmann, ARD studio Washington

The demand in many industries is greater than the supply, meanwhile the prices for raw materials in the USA are rising, employers are having difficulties filling positions: All these effects of the economic upswing at the end of the corona pandemic are stronger than assumed, the head of the Federal Reserve (Fed), Jerome Powell, granted. Nevertheless, there will be no inflation, as in the 1970s, Powell said at a hearing in the US House of Representatives. “These factors will fade over time and we will get back to where we want to go. We are watching this carefully,” he said.

Interest rate hikes planned for 2023

The goal is an inflation rate of just over two percent. In May there was inflation at five percent . The Fed announced last week by the end of 2023, the key interest rate is expected to be increased in two steps to want. But in the short term it remains in the range between 0 and 0.25 percent. Powell had to defend his monetary policy at the hearing in the House of Representatives. Republican MP Steve Scalise accused a visibly annoyed Fed chief that the cheap money policy was harmful to hard-working families.

Steve Scalise criticized Fed policies as harmful to families. Image: REUTERS

Powell replied that lower income groups in particular have not yet benefited from the upswing in the United States. “Real incomes at the lower end of the spectrum are stagnating compared to those at the top,” he said. “Mobility across all income groups has decreased in the US and is now behind that in most other industrialized countries.”

Fed expects economic growth of 6.5 percent

These differences would hold back the US economy and the country as a whole. And that although the Fed is currently assuming that the US economy will grow by 6.5 percent this year with the help of the government’s trillion-dollar stimulus packages

Figure 1. One-year U.S. Treasury Yield-ATFX

It can be seen that before last week, the US short-term debt has been in a downward trend; after the Fed’s interest rate decision, the significant long-term yang line broke through the previous multi-week K-line high. The recent rise in the US dollar index is largely due to the rise in short-term US bond interest rates. The one-year U.S. Treasury’s “low creeping” began on March 23, 2020. During this time, the United States was cutting interest rates on a large scale in response to the new crown pneumonia epidemic. Up to now, the “low creeping” time has been maintained for 15 months, which is rare. Even if the Fed does not take measures to reduce the size of monthly bond purchases in the second half of the year, market expectations will continue to heat up, which is completely sufficient for the rise in short-term U.S. interest rates. The risk is that the Fed’s decision logic is to “cut interest rates if nothing is resolved”. If there is a black swan incident in the second half of the year, the expectation of reducing the size of bond purchases will no longer exist, and both U.S. Treasury interest rates and the U.S. dollar index will plummet.

Figure 2. Ten-year U.S. Treasury Yield-ATFX

Long-term U.S. bond interest rates have performed poorly. Even when expectations of reducing the size of bond purchases were strongest last week, they only closed the inverted hammer K-line with a long upper shadow. Part of the reason is that the Fed’s monthly debt purchases are mainly long-term bonds, and ten-year U.S. bonds are one of them. The 80 billion monthly bond purchases have pushed up the price of U.S. Treasury bonds and will correspondingly lower U.S. bond interest rates. From this perspective, U.S. bond yields are not entirely determined by the market, and there are certain regulatory attributes. The Fed does not want U.S. interest rates to rise quickly without a strong economic recovery, because this will have a negative impact on the business economy. Figure 3, US dollar index weekly chart-ATFX The dollar index has successfully bottomed, and the support point is at the previous low of 89.18. As can be seen in the figure, the previous high of 93.41 has become the resistance level for this round of rising. Only when this price is effectively broken can the future upside space be fully opened. The channel line in the chart shows that the upper rail suppressed this week’s rise. There is the announcement of the PCE price index in the first quarter of the US on Thursday. If not surprisingly, the published value will be 2.5% higher than the previous value, which will give a certain boost to the US dollar index bulls. In addition, during the first four days of this week, senior Fed officials will make speeches every day. Traders need to pay close attention to their views on labor market and price changes. ATFX Disclaimer : 1, The above analysis only represents the views of analysts. The foreign exchange market is risky and investment needs to be cautious. 2. A TFX will not be responsible for any profit or loss that may be caused by the direct or indirect use or reliance on this information. Source: Financial World Network

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Investment opportunities What to do with the savings in inflation?

Status: 22.06.2021 12:28 p.m.

Even in times of rising prices and zero interest rates, many Germans have their money in savings books or call money accounts. But if you want to protect your savings from inflation, you need alternatives.

From Lothar Gries, tagesschau.de

Consumer prices in Germany rose by 2.5 percent in May – more than they have been for almost ten years. At the same time, there is practically no more interest on overnight and fixed-term deposits, the most popular form of investment among Germans. Cash is also in great demand. The value of the notes issued by the Bundesbank rose by 9.5 percent last year. A similarly high growth rate was last seen in 2014. At the end of May 2021, banknotes issued by the Bundesbank to the value of 839 billion euros were in circulation, 52 billion or 6.6 percent more than a year earlier. But if you want your money to grow, you have to consider other investments than hoarding cash or putting it on savings accounts. There is no shortage of alternative investment opportunities. The long lucrative federal bonds are no longer one of them. The yields on these securities have fallen below zero since August 2019. Investors who lend money to the German state have to pay for it – a turning point, as they still got a return of five percent at the beginning of the millennium. “Today federal bonds have no place in assets that are designed to maintain or increase in value,” explains Ulrich Kater, chief economist at Deka-Bank, which is part of the savings bank group.

No prospect of rising interest rates

Investors should also not give in to the hope that consumer prices, which have recently risen again, will lead to higher interest rates. Inflation is likely to accelerate further until the end of the year, but the European Central Bank (ECB) has repeatedly emphasized that it will adhere to the zero interest rate policy. The priority is to stimulate the economy again after the corona crisis, said ECB boss Christine Lagarde. In addition, the current rise in inflation is only temporary.

Investments that are considered to be risk-free, such as savings books and fixed-term deposit accounts, no longer offer any prospect of positive returns for the time being. In order for the saved to experience growth, stocks in particular offer themselves as a way out. Fund savings plans, for example, are a good way to get started. Investors pay regular amounts, in many cases from 25 euros upwards, into an investment fund in which various securities are bundled and which is managed by professionals. Alternatively, of course, investors also have the option of taking their money into their own hands and buying shares in individual companies on their own. In the past few years, you couldn’t go wrong when buying technology stocks.

Alternative ETF?

If you don’t dare to do this, but still want to invest in stocks, you can invest your money in a so-called Exchange Traded Fund (ETF). These funds replicate a stock market index (often with so-called derivatives). This can be the German share index (DAX) or other indices such as the US leading index Dow Jones. The performance of an ETF is closely linked to the respective index. As a result, the fees are usually lower than with other funds. Investing in the stock market is of course not without risk: If the index behind an ETF falls because the stocks in it fall, the fund also loses value.

Nevertheless, ETFs are enjoying growing popularity. According to industry experts, there are almost 7,000 of these funds. This is also due to the low interest rate phase. It ensures that more people invest their money in funds than before. Many have done well with this strategy and have achieved better returns than they would have achieved on a call money account. For example, an ETF on the DAX alone has generated a return of 55 percent in the last five years – provided that you kept your nerve at the beginning of the pandemic and did not sell when the markets collapsed by a third in spring 2020.

Gold and open real estate funds

A popular investment, especially in times of crisis, is gold. The corona pandemic has confirmed this again. By early August 2020, the price of a troy ounce (31.1 grams) had risen to an all-time high of $ 2,063, around a third more than at the beginning of the year. But then things went downhill again, to $ 1,684 in March. It is currently $ 1,775. In fact, gold is extremely volatile because the price is mainly driven by demand, because it has no “intrinsic value” like companies do. The precious metal is therefore not considered a reliable investment. There is also the often unsafe storage of bars or coins.

Those who shy away from the capital market and don’t believe in precious metals can also invest their money in real estate funds. They collect capital from investors and invest it in offices, shopping centers, residential buildings or logistics centers. The so-called open real estate funds are particularly popular with private investors. The income from such a fund, i.e. the rental income after deducting costs, is distributed to the owners as profit. With well-managed funds, an annual return of four to five percent can be achieved, a little more than the inflation rate.

Sometimes there is a risk of total loss

But the system has a catch. A minimum holding period of 24 months applies to open-ended real estate funds. An investor must also announce the return of his money to the fund company. Then he will get his system back after twelve months at the earliest. So if you have to get your money at short notice at any time, you should refrain from such investments.

The examples show that there is no shortage of alternatives to the savings book or a federal bond. But if you want to increase your money, you also have to be prepared to take risks. In some cases, for example when purchasing shares, there is even a risk of total loss, as the example of Wirecard recently showed. A look abroad – especially the USA, where far more people own shares than in Germany – shows that long-term wealth can only be built up with investments in the capital market

Wrong interest calculations BaFin is taking action

Status: 21.06.2021 5:08 p.m.

Premium savings contracts have long promised savers big money. However, in the low interest rate phase, many banks corrected the promised profit commitments downwards. BaFin is now intervening – in the interests of customers.

From Ursula Mayer, Mr

The Federal Financial Supervisory Authority BaFin obliges banks and savings banks to inform holders of premium savings contracts with a variable interest rate about ineffective interest rate adjustment clauses. To this end, the authority has published a general order – which is considered a sharp sword in the financial sector. The financial institutions must also explain to savers whether they have received too little interest as a result of the ineffective clauses. In this case, either back payments beckon or the banks can offer customers modified contracts with an effective interest rate adjustment clause. The changes apply retrospectively and also compensate for insufficiently paid interest in the past. According to BaFin, at least 247 banks and savings banks are affected. The total amount is open.

So far, banks have stood across the board

In the period between 1990 and 2010 in particular, the financial institutions offered a large number of premium savings contracts. These long-term contracts contain clauses that allow financial institutions to unilaterally change the guaranteed interest rate. They often did that in the low interest rate phase and cut savings rates, in some cases massively – at the expense of their customers. The Federal Court of Justice has meanwhile classified the clauses as ineffective.

BaFin Executive Director Thorsten Pötzsch refers to this in the general decree. He speaks of a “grievance” for consumers, which BaFin wants to remedy in terms of collective consumer protection. “We ensure that affected customers are comprehensively informed and legally treated,” says Pötzsch. Because for more than a year the supervisors have been trying to find a solution with the financial institutions in the interests of the customers, even at a round table – so far without success. The general decree shows that BaFin’s patience has come to an end.

Hundreds of thousands of customers affected

“We are assuming that banks and, above all, savings banks have concluded hundreds of thousands of premium savings contracts nationwide,” says financial expert Andrea Heyer from the consumer center in Saxony. She and her team have specialized in recalculating such contracts. More than 7700 customers from all over Germany have already contacted us.

As the consumer advocates have calculated together with experts, the financial institutions have calculated the interest rates too low for years in almost all cases. As a rule, consumers were unable to understand how they set the variable interest rate. Often the financial houses have lowered interest rates too much, in too large interest rate steps downwards. “Depending on the case, those affected are entitled to additional payments of a few hundred to over 40,000 euros in individual cases,” says Heyer. In this respect, she welcomes the fact that BaFin is now intervening – that is an important signal.

Suddenly it was 15,000 euros less

Karina Rother from Frankfurt, for example, signed such a premium savings contract at Frankfurter Sparkasse in the 1990s and wanted to do something for her retirement with it. “The Sparkasse promised me that with a term of 25 years it would really be worth it for me,” says Rother. She promised the customer steadily rising interest rates and ever higher cash rewards.

Rother assumed that she would get around 77,000 euros in the end – as it was calculated in an advertising flyer. Suddenly it should be around 15,000 euros less. In the end, she agreed with the Sparkasse on an extra payment of around 4,000 euros – but, says Rother: “It annoys me that a public institute in particular causes such trouble, even though it is in the interests of the company ‘Joe Bloggs’ should have in view. “When asked, the Sparkasse did not want to comment on the case because of banking secrecy.

Savings banks oriented towards the common good have a duty

Julian Merzbacher, consumer protection expert of the citizens’ movement Finanzwende, also sees the savings banks in particular as having an obligation to finally act and to approach customers on their own initiative. “It is a cheek that the public welfare-oriented institutes have so far mainly relied on the time factor and statutes of limitations when it comes to saving premiums”.

The general decree of BaFin also explicitly refers to contracts that have already been terminated. But the extent to which claims from customers are already statute-barred – or maybe not – is not a matter for BaFin, it says there, but the courts would have to clarify in case of doubt.

Big incomprehension among the banks

However, the credit institutions now have four weeks to appeal against the general ruling. This is currently being checked, according to the Deutsche Kreditwirtschaft, the umbrella association for the banking industry. “It is astonishing that the Federal Financial Supervisory Authority is pre-empting the courts,” said a written statement.

Because there is still another judgment pending at the Federal Court of Justice, according to which specific criteria banks have to adjust interest rates in long-term savings contracts. When this decision will be announced is not yet known – consumer advocates are expecting the verdict in the fall. And of course the German banking industry wants to take this into account, according to its own statements.

Don’t just accept comparison offers

But just waiting until then is not an option, according to BaFin. After all, it is uncertain when a decision by the Federal Court of Justice can be expected, according to the general ruling. As a result, the situation is unnecessarily prolonged for the financial supervisors, and consumers should now be informed urgently.

With a view to the general ruling, consumers do not have to do anything at first. However, you should pay attention to whether you will soon receive mail from your house bank regarding premium savings contracts or not. If comparative offers are made, consumer advocate Heyer recommends having them checked so that no saver is taken advantage of

Five years right to an account Criticism of high basic account fees

Status: 06/18/2021 4:44 p.m.

Everyone has had the right to a basic account for five years. This should help poorer people to get a checking account. It hits hard when banks turn the fee screw in times of negative interest rates. Paying salaries, shopping online, electricity bills – hardly anything works without a checking account. In the past, for example, people without a permanent address or refugees often had a difficult time opening an account. With the Implementation of an EU directive from 2014 The legal situation in Germany changed five years ago: since then, every citizen has been entitled to a so-called basic account. It is intended to give everyone an inexpensive way to conduct banking transactions with a checking account. But the fees for these financial products are increasing – to the displeasure of those affected and the critics. The prerequisite for setting up a basic account is that you are legally resident in the European Union. The account holder receives a bank card and can transfer money. A bank may only reject the application to open a basic account in rare cases, for example if a customer already uses an account with another bank in Germany.

Hundreds of thousands of basic accounts already

According to the latest figures from the financial supervisory authority BaFin, just under 761,500 basic accounts had been opened in Germany by June 2020. However, many institutes are paying dearly for the “Jedermann Accounts”. According to a study by Stiftung Warentest from last December, the range extends from twelve euros to 250 euros per year.

“The success of the basic account is at stake,” warns Julian Merzbacher from the Association of Citizens’ Movement Finanzwende. “Access to an account shouldn’t be a question of the wallet, because it is essential. Other European countries, in which the fees are capped at a low level, show that there is another way.”

Deutsche Bank put in its place

If necessary, the courts have to take action. In the past year the Federal Court of Justice (BGH) ruled in proceedings against Deutsche Bank . A monthly basic price of 8.99 euros and 1.50 euros for a paper transfer as part of a basic account are too high and therefore ineffective, judged the Karlsruhe judges (Az .: XI ZR 119/19). Since then, the bank has had to offer its basic account cheaper.

Fee cap required

In the opinion of Merzbacher’s colleague Michael Findeisen, Germany has only inadequately implemented the EU’s requirements. “The fee regulation urgently needs to be improved,” said the expert to the Protestant press service. The 68-year-old played a key role in shaping the relevant law, as head of division in the Federal Ministry of Finance. Five years later, Findeisen is retired and volunteers for the citizens’ movement Finanzwende.

Findisen demands a binding fee cap from politicians. “It is clear: the banks cannot earn anything with the basic account. But they can cross-finance that with the income from other financial services and products.”

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Negative interest on credit When it suddenly costs you to save

As of: 06/18/2021 8:58 a.m.

Up to now, banks have mainly charged new customers with negative interest rates. It also affects existing customers more and more frequently. Consumer advocates advise to be clear about what you want to do with the money.

From Iris Völlnagel, SWR

Anger and complaints from consumers are part of everyday life for Josephine Holzhäuser, financial expert at the consumer center in Rhineland-Palatinate. But since the beginning of the year, more and more consumers have come to her who have left their financial institutions “betrayed and sold” feel. The reason: More and more banks and savings banks are introducing negative interest rates on current and savings accounts.

More than 345 institutes collect negative interest

Many older people, but also younger ones, now sought advice from consumer advocates. Most of them have been customers for years, have taken out their mortgage lending or insurances with the banks, and now they are being threatened with termination if they are not willing to pay negative interest, says Holzhäuser. “From my point of view, this is a clumsy business practice.” People feel compelled and pressured. Many older people are overwhelmed – especially those who are not so fit online. Since the beginning of the year, more than 170 banks and savings banks in Germany have introduced negative interest rates. This is the result of a study on the www.biallo.de Internet portal. Every third bank only grants an allowance of 25,000 euros. The consumer portal Verivox also regularly researches and publishes the product overviews and price lists of around 1,300 credit institutions that are accessible online. As a result, more than 345 banks have now introduced negative interest rates for private customers. 19 banks charge fees for the call money account, which is usually free of charge. This also creates a de facto negative interest rate. In addition, there are the banks that do not publish any information, according to Verivox. Most recently, Postbank announced that it would lower the exemption limits for savings deposits on June 21 and one for new customers “Custody fee” from 50,000 euros on the current account and 25,000 euros on the daily allowance account. Contributions above this limit are charged with 0.5 percent. So far, the tax exemption has been 100,000 euros.

Banks point their fingers at the ECB

As a reason for that “Custody fee” the financial institutions repeatedly claim that they themselves pay negative interest rates to the European Central Bank (ECB). In 2014 it began to charge penalty interest on money that the commercial banks park in their central bank accounts. However, the banks are now granted exemptions. Critics therefore complain that the financial houses are doing business with negative interest rates.

This practice will not change in the foreseeable future, fears consumer advocate Holzhäuser. “If one bank does it, the others follow suit. If the pace continues, one no longer looks to see which bank has no negative interest, but from which tax exemption”, so wooden houses. David Bode from the legal enforcement team of the Federal Association of Consumer Organizations knows whether the introduction of negative interest is generally permissible. The association has filed suits at different courts in several federal states. It concerns both current and overnight money accounts. How long the litigation will take is difficult to estimate, according to Bode. There could possibly be first judgments in the current calendar year. In the end, the Federal Court of Justice may have to decide.

Consumers in a bind

A basic distinction should be made between existing and new customers. The latter advises the financial expert Holzhäuser to look at the small print before signing the contract. In the meantime, it is noted in the general terms and conditions whether negative interest is charged above a certain amount.

This is different with existing customers, where changes require an individual agreement. In the past year, the banks would have allowed existing customers to talk to them. In the meantime, the banks are going to terminate their business relationships. “That has another dimension”, so the consumer advocate. “As a customer, I then have to decide whether to sign or not.” In the meantime, however, she advises signing more and more often, according to Holzhäuser. “If people want to stay with the bank, they have to bite the bullet and watch the further case law.” If you don’t want to sign, you shouldn’t wait for the bank to give notice of termination, advises the consumer advocate. “We cannot yet assess how such a termination will affect Schufa, for example.” Alternatively, consumers could look for a new bank. As a rule, you have some time because the bank contacts its customers one to two months in advance.

Shift money, check investments

Many banks charged negative interest for amounts in excess of 100,000 euros. This corresponds to the amount of the deposit protection; that is, the amount for which the bank guarantees in the event of a total failure. If you have more in your account, you should distribute your money between several accounts at different institutions, according to the advice of the financial expert.

After all, everyone should check why they have so much money in their account at all, according to the consumer advocate. The following also applies: do not accept every offer without review. “In case of doubt, it is better to go with negative interest than to invest the money headlong.” A unit-linked annuity insurance with a term of twelve years is not an adequate offer for people over 70, according to Holzhäuser. You can also deposit the money in a locker or safe at any time. Just leaving it at home is the worst option because of the risk of theft, according to the financial expert

Currency under $ 1.20 How weak is the euro going to be?

Status: 06/18/2021 2:09 p.m.

In the USA there are signs of a turnaround in interest rates, in Europe the key interest rate will probably remain low for a long time to come. That has been burdening the euro for days. How much will the common currency still become cheaper? The prospect of rising interest rates in the US has recently weighed on the euro. The common currency fell in the past few days from rates at 1.22 to below 1.19 US dollars. Experts cited the interest rate meeting of the US Federal Reserve (Fed) as an explanation for this strong movement. After years of zero interest rate policy, the American monetary authorities had promised interest rate hikes, at least for the longer term. Accordingly, two rate hikes can be expected by 2023.

First of all, the Fed will in all probability cut back its security purchases later in the year, with which it had pushed down long-term interest rates on the bond market in recent years. The expectation of an economic recovery with rising inflation rates alone had pushed the yield on ten-year US government bonds up from around 0.5 percent to just under 1.8 percent since the summer of last year.

Long-term rates still negative

Yields on the German stock market have also risen sharply in recent months, albeit at a significantly lower level to date. The yield on ten-year Bunds is still around minus 0.2 percent. In the low, the interest rate was only around minus 0.67 percent. Despite rising inflation rates in Germany and the euro area, the European Central Bank in Frankfurt unwilling to be, to follow the central bank colleagues in Washington and to consider at least less security purchases in the near future. In May, the inflation rate in the euro zone was 2.0 percent, slightly above the central bank’s price stability target. In Germany they moved Producer prices even rose 7.2 percent in May compared to the previous year and therefore stronger than it has been for almost 13 years. The prices were driven by the sharply rising prices of so-called intermediate goods.

Bundesbank boss for the end of the bond purchases

“In the long run this will work noticeable in consumer prices The economists at Commerzbank said: “A central bank in crisis mode, which, as ECB President Christine Lagarde said in her last press conference, does not even talk about whether a reduction in bond purchases might be necessary. appears well behind the curve in comparison. “In the opinion of the experts, the monetary authorities have thus missed the entry into the exit from the zero interest rate policy.

An opinion that is also shared by the President of the Bundesbank, Jens Weidmann. Weidmann has spoken out in favor of an early end to the trillion dollar bond purchases by the European Central Bank (ECB) after the pandemic. The focus is on the purchase program called “PEPP” the monetary guardian. “When the emergency for which the PEPP was created is over, it must be ended,” Weidmann told the “Handelsblatt”. But whether Weidmann will prevail is unclear. There are thus signs for the near future that the dollar could retain or even expand its interest rate advantage.

German exporters benefit

For German vacationers who want to spend their free time outside the euro area, that would be bad news – they would have to pay more for foreign currency. The export-oriented German economy, on the other hand, is benefiting from the trend. Last year, just 36 percent of German exports went to the countries of the euro area. And even if you include EU countries with their own currencies such as Denmark, Sweden and the United Kingdom, which has since left the country, the share of exports last year was just over half.

A good sixth of exports even went directly to the USA. In fact, the impact of the dollar rate on German exports is likely to be significantly greater. Because some international currencies are directly linked to the US dollar. These include, for example, the Saudi riyal or the diram of the United Arab Emirates. Both Saudi Arabia and the Emirates are countries that traditionally buy and import many German products with the money they earn from oil exports.

Dollar weakness later in the year?

If the US dollar gains strength, German companies have two options. Either they reap additional profits with unchanged prices. Or they react with price cuts in order to gain market share – both attractive prospects for companies.

But at this point in time it seems questionable how long the euro will actually continue to decline. Because for autumn and winter, experts like those at Commerzbank are expecting inflationary dynamics to decline again in the USA. Then “the US dollar euphoria will soon be over”

Exclusive

Housing market Tax tricks with Interest settlements

Status: 06/17/2021 10:42 a.m.

Financial investors speculate with billions on the German housing market, but hardly pay taxes – thanks to a legal trick. The federal government wanted to close this loophole. But loud monitor – Research won’t come of it.

By Lutz Polanz and Jan Schmitt, WDR

“Behind this house is an American company, the trail of the owners leads via Luxembourg to the Cayman Islands” , tells Coni Pfeiffer, activist and spokeswoman for the # 200Houses network. Tenants from Berlin have come together to defend themselves against the conversion of their apartments into expensive condominiums and the greed of financial corporations. It is similar with the other houses on the opposite side, explains Pfeiffer. Here the trail of investors leads to tax havens such as Gibraltar or the Virgin Islands. The Berlin real estate market has long since become an Eldorado for major investors who want to remain anonymous. The official owners are companies with names such as Magenta Properties S.à.rl or Berlin Project-1 Property III S.à.rl The names often conceal complex corporate structures with a whole chain of companies. In the end, they lead to well-known tax havens, for example in the Caribbean.

Interest trick to save taxes

The elaborate company structures apparently also serve to avoid paying taxes to the German tax authorities. A completely legal interest trick helps the companies: The parent companies lend money to their subsidiaries who own the houses and land in Germany. In return, they charge them high internal interest rates – much higher than they would otherwise have to pay at banks. The interest payments of the subsidiaries reduce the profit in Germany and thus the taxes that would have to be paid here.

“The profits go to countries in which no tax is levied on interest income”, explains Gerhard Schick, board member of “Citizens’ Movement Finanzwende”. “Thanks to these high interest payments, it is practically possible to push the income abroad, so that in Germany you can tell the tax office that we have actually not earned any money, but that the profit is generated abroad.”

Billions are being lost to the Treasury

“Every year the German state loses five to seven billion euros as a result of the interest rate trick”, adds Christoph Trautvetter from “Network tax justice”.

So far, the tax authorities have been able to do next to nothing about it. There is no corresponding legal regulation. Specialists have been calling for them for years, for example Manfred Naumann, an expert in international tax law and head of department in the Federal Ministry of Finance for many years: “I am frustrated that the legislature and the Federal Ministry of Finance are unable to find such a regulation”, said Naumann in an interview with the ARD -Magazine monitor . For him the state wears one “complicity” because financial resources run into the billions “flow untaxed”. Proposals for such a regulation have long been on the table. Accordingly, the interest rate would always be used as a benchmark at which a group can borrow money from the bank. Demanding higher interest rates internally would only be possible if the group can justify it well. That would be a kind of reversal of the burden of proof, which experts believe would prevent a large part of the tax damage.

Paragraph disappeared

The Federal Ministry of Finance under Olaf Scholz (SPD) had proposed precisely such a new regulation in a draft law. But the CDU / CSU parliamentary group intervened and the corresponding passage was deleted from the draft. The Federal Council then made a new attempt to resume the regulation. But this was also thrown out at the instigation of the Union.

“Braking measures against money laundering, aggressive tax avoidance and tax evasion by the CDU / CSU has a long tradition”, criticizes Sven Giegold from the Greens in the European Parliament. However, he is also surprised that the SPD did not protest against it.

The Union faction wanted to get up monitor -Do not answer the request. The Federal Ministry of Finance, led by Scholz, is now apparently at a distance from its original approach. Corresponding changes “should ideally be coordinated internationally”, it says in a response from the ministry to a request from monitor .

Now the match ball lies with the Federal Council. He wants to decide at the end of June whether to call the mediation committee or wave the law through with the loophole

The sound becomes sharper Fed sees two rate hikes in 2023

Status: 16.06.2021 8:59 p.m.

As expected, the US Federal Reserve left its key interest rate unchanged. However, the loose monetary policy will not go on forever. The stock markets are falling, and the euro is also falling. Despite the waning corona pandemic and rising inflation rates, the US Federal Reserve continues to keep its key interest rate in a range between 0.00 and 0.25 percent. The monthly bond purchases of $ 120 billion are also expected to continue for the time being. At least until progress is made towards achieving the bank’s goals. In particular, this means “considerable progress in terms of price stability and employment”. This was stated by the monetary authorities after their two-day routine interest rate meeting in Washington. According to Fed Chairman Jerome Powell, the Fed is still a long way from achieving its goal: “But we are making good progress.” The bank continues to blame temporary factors for the recently stronger rise in inflation data. At the same time, she expects inflation to rise to 3.4 percent this year and drop to 2.2 percent in 2022. There is also increased economic activity and employment. Powell said the discussion about scaling back the extremely loose monetary policy had begun. The point is when it will reduce its regular bond purchases. However, Powell was not specific. Basically, the Fed chief said that if you will, you have talked about wanting to talk about the subject. With such cautious wording Powell should try to avoid panic-like reactions in the financial markets.

Two rate hikes envisaged in 2023

For the first time since the outbreak of the pandemic, however, the monetary authorities signaled that there could be two interest rate hikes of half a percentage point each in 2023. So far, the Fed’s interest rate projection provided for an unchanged monetary policy with a key interest rate close to zero. After all, seven monetary authorities are now even of the opinion that a tightening could come next year. Not only has the interest rate forecast been raised, expectations for economic growth and inflation are also higher in some cases. For this year, the Fed is expecting macroeconomic growth of 7.0 percent instead of the 6.5 percent previously expected.

Share prices are falling

Wall Street reacts with price losses, all leading stock indices give way in an initial reaction. The leading index Dow Jones lost around one percent, the other indices are slightly below. Prices are also falling on the bond market, with the yield on ten-year US government bonds increasing to 1.56 percent. The euro is losing significantly against the dollar and is currently trading at 1.2026 dollars, around one cent less than in today’s trading

Some people may question the minimum deposit standard of 300,000. In fact, it is common for many banks to see 300,000. The minimum deposit standard for large deposit certificates is mostly 200,000, but some are 300,000, and the higher may be 500,000 or 1 million. Of course, different deposit standards can obtain different interest rates, so the minimum deposit standard of 300,000 It is a very normal thing.

The second is the 4.85% rate of return. Although this rate of return is high, it is still within a normal level. At present, my country implements a dual-track system that combines the central bank’s benchmark interest rate and market interest rate. In 2015, deposit interest rate restrictions were fully lifted, and there was no ceiling for deposit interest rates. For example, in 2019, bank deposit interest rates could reach 6% when they were the highest in the year.Preparing for Medical Exams

Although there is no limit on the maximum deposit interest rate, there is one requirement, that is, to be able to absorb the cost of debt and not to engage in vicious competition for the sake of soliciting savings. Just like now, some merchants maliciously cut prices in order to solicit customers, and ultimately will only disrupt the order and operation of the entire market. At present, it is not uncommon for the deposit interest rate to reach 5% in the three-year or five-year deposits of some small and medium-sized banks. Therefore, the deposit interest rate of 4.85% is still within the normal range, which is not outrageous.

The biggest difference between large deposit certificates and large deposits is that the issuance of large deposit certificates requires filing with the central bank and requires relevant qualifications to be issued. However, large deposits are different. Each bank can launch it on its own. The nature of the deposit is actually the bank’s fixed deposit.Preparing for Medical Exams

In addition, the interest rate of large deposit certificates will also be restricted. At present, the highest interest rate for three-year large deposit certificates of state-owned banks is only 3.985%, and the highest interest rate for three-year large deposit certificates of joint-stock commercial banks is only 4.126%. Local small and medium-sized banks The interest rate for large deposit certificates is generally only around 4.3%, so the 4.85% interest rate is not much like large deposit certificates, but more like large deposits.

It is normal for local small and medium-sized banks to offer a 4.85% interest rate for large deposits over a three-year or five-year period. Although the three-year deposit interest rate of state-owned banks is only about 3.5%, 4.85% has far exceeded the market level, but due to the low strength and popularity of these small and medium-sized banks, in order to attract savings, they can only increase the deposit interest rate substantially, and in order to effectively reduce the interest rate. The cost of storage, so appropriately raising the threshold for deposits, is also the usual method of these banks.

Real estate market in Europe Construction is not booming everywhere

Status: 16.06.2021 2:01 p.m.

Construction is one of the boom industries in Germany even during the crisis. But what about in other European countries? Our correspondents report that the situation there is only partially comparable.

Poland: increasing demand, increasing prices

By Jan Pallokat, ARD studio Warsaw Anyone in Poland who thought that the corona pandemic would slow down the construction industry, which has been booming in the country for years, was caught on the wrong foot at the beginning of the year. Housing construction in particular is buzzing even more; In the first quarter, developers in major cities sold 40 percent more than in the previous year and three percent more than in the previous record year of 2017. And because the supply of modern living space still lags behind demand in the country, the sales prices achieved are also rising steadily: on average by almost eight percent for new buildings and six and a half percent for used residential property. The rising prices for building materials and an increasing shortage of staff also play a role here. Because construction workers are scarce, market experts are now warning that construction sites could be paralyzed in rows during the high season in summer. The downside of the building boom: home ownership is often unaffordable for young families. Already today, 43 percent of under 35-year-olds in Poland lived with their parents, the Eurostat statistics office recently reported. This puts Poland in the top group in the EU when it comes to “Hotel Mama” and is on a similar level to Italy.

Spain: no construction boom in sight

By Reinhard Spiegelhauer, ARD studio Madrid Construction boom and Spain – wasn’t there something? Yes, Spain has actually experienced an absolutely ludicrous construction boom – but that was 20 years ago. In the nineties and noughties, the number of planned apartments practically doubled from year to year – up to the highest level in 2006 with almost 900,000 apartments. Then came the big bang: the real estate bubble burst, banks had to be bailed out, Spain rushed past bankruptcy, hundreds of thousands could no longer service their real estate loans, apartments were evicted. The market then recovered very slowly. But still, roads, lamps and park benches built in boom times are rotting in many development areas. In 2019, the year before the corona pandemic, the foundation stones were laid for a good 100,000 apartments. Since then, however, the sector has largely been paralyzed again. Unemployment fell again after peaking at around 25 percent after the euro crisis, but it again reached 15 percent during the pandemic. For young adults it is more than 30 percent. According to experience from the times of the real estate bubble, far stricter criteria now apply to the granting of loans. All of this is currently preventing any kind of construction boom in Spain.

Switzerland: mainly redevelopment and densification

By Dietrich Karl Mäurer, ARD studio Zurich Instead of a “construction boom”, the umbrella association of the Swiss construction industry, Building Switzerland, speaks of “continuously good work”. A large part of the orders are so-called consolidations and energy-efficient building renovations. But not least because of the low interest rates, large investors like to invest in construction projects such as new building complexes with rental apartments. The demand is good, although there are vacancies in some rural regions. Housing is still in short supply in cities. This is also because net immigration has recently risen again; During the pandemic, many foreigners who actually wanted to leave the country after a certain period of time in Switzerland preferred to stay – mainly because of the comparatively difficult labor market conditions in their home countries. The construction industry accounts for ten percent of Switzerland’s economic output and employs around half a million skilled workers. According to a recent economic survey, the situation in the construction industry is stable. However, the limited availability of building materials and preliminary products could become a problem. Incidentally, real estate prices in Switzerland have risen faster than they have been in eight years.

Ratings at a glance How creditworthy are which countries?

Status: 15.06.2021 01:05 p.m. Credit ratings from the major US rating agencies help determine the interest rates at which a state can borrow money. How do Moody’s, Fitch and Standard & Poor’s rate the creditworthiness of the countries in the eurozone and other countries? Who gets the top grade, the “Triple-A”? An overview of the current credit ratings from Belgium to Cyprus.

Source: rating agencies / as of June 15, 2021

Source: rating agencies / as of June 15, 2021

background 07/14/2011

Author: The surplus grain of the rich man’s house

The Fed once again held an interest rate meeting.

Of course, the Fed stunned the market once again. After the Fed negotiated interest rates, U.S. Treasury yields soared and the price of gold plummeted. The market exclaimed that Taper is coming, and Taper is coming. …

Suddenly remembered a children’s story.

A papaya was ripe and fell from the tree into the lake, with a grunt, splashing white water. A rabbit heard it, thought it was a monster, and ran away, yelling as he ran, “Run away, come on!” The monkey heard it, and ran along, shouting as he ran, “Everyone, run away, come on!” At this moment, the whole forest was in a commotion, and the animals all ran up, shouting as they ran: “Run for your life, here comes Gudong!” A papaya was ripe and fell from the tree into the lake, with a grunt, splashing white water. A rabbit heard it, thought it was a monster, and ran away, yelling as he ran, “Run away, come on!” The monkey heard it, and ran along, shouting as he ran, “Everyone, run away, come on!” At this moment, the whole forest was in a commotion, and the animals all ran up, shouting as they ran: “Run for your life, here comes Gudong!” What does “Taper” mean?

It means “gradual reduction” in English, and it specifically refers to the Fed’s gradual reduction of its money printing scale (QE), which has brought the so-called “Taper Tantrum” to the financial market.

But to put it bluntly, Taper is just the “gu-dong” that papaya fell into the water.

According to the Fed’s statement and its answers to reporters, the Fed only slightly increased its forecast of economic growth figures and increased its forecast of inflation figures. It did not claim to reduce QE at all. Can’t discuss it?), and didn’t mention any interest rate hikes-but compared to the March meeting on interest rates, in the forecast, the benchmark interest rate in 2023 will be raised by 0.5 percentage points.

Since the US inflation data in May was as high as 5%, which was almost the highest level since 1992, the results of this interest rate meeting were widely interpreted by the market as:

1) To withdraw from easing soon;

2) There will be two interest rate hikes in 2023.

Well, regardless of whether it will withdraw from easing this year, or whether it will actually raise interest rates twice in 2023, the market has begun to anticipate and ferment this matter, and the result that the Fed wants has been achieved.

Because the Fed is the top master of manipulating market expectations.

After the global financial crisis in 2008, the Fed conducted three rounds of QE in six years, and its balance sheet rose from 900 billion U.S. dollars to 4.5 trillion U.S. dollars.

The interest rate meeting in June 2013 was the same as it is now. At that time, the third round of QE was still underway. The then Fed Chairman Bernanke gave clear conditions for reducing QE: when the unemployment rate was approaching 7%.

The results of the meeting on interest rates are also very similar to the structure of this time. The Fed also raised its economic growth expectations and inflation forecasts…

Because the unemployment rate at that time was actually quite close to 7%, and the market at that time also predicted that in December 2013, the probability of the Federal Reserve reducing QE was 80%…

The results of it?

Even if the U.S. unemployment rate fell to 6.7% in March 2014, the Fed did not see a reduction in QE. By mid-2014, the unemployment rate had fallen to 6.2%, and the Fed began to reduce QE, and the Fed’s balance sheet scale was not large. More time will be added to September 2014 (see the figure below, the dark blue line and the left axis are the U.S. unemployment rate so far in 2004, and the dark red line and the right axis are the size of the Fed’s balance sheet so far in 2004).

As for the interest rate hike after the QE reduction in 2013, it was as far as two years later, and after the interest rate hike was once, there was an interval of two years before the interest rate hike again.

Expected management is greater than actual operation, and the form and sample are greater than the actual tightening.

Everyone must remember:

In today’s era of credit money, no matter which central bank, the monetary policy will always be loose but not tight. As long as it can be loose, it must be loose. Even if the economy is overheated, even if inflation is rampant, interest rate hikes and austerity are going back three steps— —On the contrary, if you see signs of economic downturn, easing and interest rate cuts, it will definitely be like a tiger going down the mountain, and it will be implemented.

Believe it or not, let’s take a look at how aggressive the Fed was in 2020 when the U.S. stock market plummeted:

Within two weeks, cut interest rates urgently;

I feel that the interest rate cut is not enough, so I cut the interest rate directly to 0+ days and the amount is loose;

The amount of easing is not enough, unlimited easing + buying corporate bonds directly.

——There is no lower limit for looseness, and tightness depends on installation.

Someone might say that the US inflation rate has now exceeded 5%. If the Fed does not reduce QE or raise interest rates, how can it be explained to the market?

Who told you that the Fed needs to explain to the market on inflation?

The task of the Fed is to guide market expectations!

As long as the market’s inflation expectations come down, inflation will not be a problem.

The Fed constantly hints to the market that the prices of major commodities plummeted from March to July 2020, so the inflation rate in the corresponding month of 2021 appears to be very serious, but this is temporary. After these few months pass, the inflation rate in the United States will Decline, and, in the future, we will have to reduce QE, we will also raise interest rates, and the inflation rate will definitely fall…

Yes, the Fed printed 100% of the base currency in the past year and increased the broad money by 25%, but the Fed firmly believes that the current inflation in the United States must be temporary!

In fact, because politics is not correct, what the Fed is embarrassed to tell everyone is–

Now, what the United States needs most is inflation!

Moreover, we must let the inflation rate exceed the U.S. Treasury bond yield!

Why do I say that?

Because of US government debt!

Think about it, if you owe one million yuan to someone, you have to pay it back, but you have been borrowing money every year, how should you pay it back?

The best way is inflation. If there is an inflation rate of 100% and the nominal price of your total debt remains the same, then your actual debt burden will be reduced by half!

According to the latest data, the total debt of the US federal government has reached 28.3 trillion US dollars.

As long as inflation occurs, both the US GDP growth and US fiscal revenue in nominal dollars will increase significantly, and the interest that needs to be paid to the national debt is fixed when it is auctioned out. As long as the inflation comes up, the debt The burden will gradually decrease.

The benefits are not only here.

Allowing actual inflation to exceed the yield of Treasury bonds will also help the US government issue new debt and borrow more money.

For example, the U.S. government pays 2% interest on national debt, but the actual inflation has been maintained at the current 5%, which means that the real interest rate is -3%, and the U.S. government is not afraid of borrowing more money because of government debt/ GDP will fall, and America’s fiscal ability to pay is getting higher…

As for the price, the price is of course the people who use dollars all over the world are those who buy bonds.

Someone should ask, the real negative interest rate, what if there are not so many people buying U.S. Treasury bonds?

There is also the Federal Reserve, which directly prints money to buy!

This was originally one of the main purposes of the Fed’s QE!

Since the outbreak of the epidemic in 2020, under the buy-buy-buy of the Fed, by April 2021, the total amount of US Treasury bonds held by the Fed has exceeded the US Treasury bonds held by overseas investors.

Therefore, many people think that because of the recent increase in inflation, the Fed will soon withdraw from monetary easing. In fact, the Fed is eager for such inflation to continue for a period of time until the Biden administration almost runs out of borrowing money and no longer needs it. When borrowing money, the Fed will consider really reducing QE or even stopping easing.

Also, because everyone expects that the Fed will withdraw from easing and one big buyer will be missing, the market generally infers that the price of Treasury bonds will fall, so the yield will continue to rise, and many major market players are predicting that U.S. bond yields will rise in the second half of the year. To more than 2%…

However, it is likely that everyone is wrong again!

The graph below is a comparison between the Fed’s balance sheet and the yield of 10-year U.S. Treasury bonds from 2006 to date. Since the Fed reduced QE in 2014, U.S. Treasury yields have continued to fall; in 2018, the Fed really began to shrink its balance sheet. , U.S. Treasury bond yields have also fallen (see the two circles in the figure below)…

In other words, the two QE exits since 2008 have proved that each time the so-called QE is reduced or exited, the Fed is just “leading” the public’s expectations. Every time it exits the implementation of QE, either the Treasury bond yield is directly Continue to fall, or Treasury bond yields continue to fall after a short-term rise.

In short, under the manipulation of the Fed, they will definitely keep the yields of treasury bonds at a very low level, and they will surely allow the inflation rate to continue to exceed the yields of treasury bonds, and will definitely reduce the debt burden for the US government…

After all, the Federal Reserve, which claims to protect the value of the U.S. dollar, was originally the world’s largest lie maker!

Local time Monday (June 14), a survey by the New York Federal Reserve showed that American households’ expectations for next year’s inflation, housing prices, income and expenditure growth all rose in May; the median one-year inflation expectation in May increased from 3.4 in April. % Rose to 4.0%, a new high since the inflation expectations index was launched in 2013.

On the same day, another data released by the New York Fed also received attention. The data shows that the Fed accepted US$583.9 billion in fixed-rate reverse repurchase, which continued to hit a record high and exceeded US$500 billion for four consecutive trading days. This reflects the increasing liquidity in the US dollar financing market.

In addition, data released by the U.S. Department of Labor last Thursday (June 10) showed that the U.S. May unseasonally adjusted CPI annual rate was 5%, the highest since August 2008, with an expected 4.7% and a previous value of 4.2%; the United States 5 The monthly unseasonally adjusted core CPI annual rate was 3.8%, a new high since 1992, expected to be 3.4%, and the previous value was 3.0%.

Inflation continues to soar and liquidity is rampant. More and more institutions believe that the Fed will start the process of debt reduction at the end of this year or early next year. Some institutions even warn the Fed to ignore the risks caused by inflation!

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase, is more direct. He said that JPMorgan Chase has been “efficiently hoarding” cash instead of using it to buy U.S. Treasury bonds or other investments because it is more direct. High inflation may force the Fed to raise interest rates.

In fact, the performance of the market may also reflect some situations. Last Friday (June 11), in the absence of heavy data or event stimulus, the US dollar index rose significantly and once touched 90.60, while gold fell by more than 20 US dollars. The above-mentioned market may be as simple as non-profit-taking, and it is not ruled out that investors are beginning to bet that the Fed will tighten policy soon. But the final decision is in the hands of the Fed.

“Terror data” + Federal Reserve interest rate, this week the market ushered in the ultimate test?

On Tuesday (June 15), the United States will release data such as the monthly retail sales rate in May, the PPI in May in the United States, the manufacturing index of the New York Fed in June in the United States, the industrial output in May in the United States, and the NAHB real estate market index in June in the United States. Among them, the US retail sales data in May has attracted much attention.

The market expects the monthly rate of retail sales in the United States to fall by 0.7% in May, which was unchanged from the previous value. If the data is in line with or lower than expected, or suggest that the effect of the White House fiscal stimulus is gradually fading, it may weaken the Fed’s expectations of tightening policy. Since consumer spending accounts for about 70% of US economic output, US retail sales data often trigger huge market shocks, so it is commonly called “terrorist data.”

In addition, the performance of the US PPI in May cannot be ignored. As a leading indicator of price trends, the performance of the PPI indicator will reflect the relevant situation of production costs. The market expects that the US PPI will rise at an annual rate of 6.3% in May, which will further reveal the pressure on the transmission of production costs. The overall performance of the above two data may cause greater interference to the short-term trend of the US dollar.

But the market is more concerned about the upcoming Federal Reserve interest rate decision. At 02:00 AM Beijing time on Thursday (June 17), the Federal Reserve FOMC announced interest rate resolutions, policy statements and economic expectations; at 02:30, Fed Chairman Powell held a press conference.

As the CPI data for two consecutive months “exploded”, whether the Fed will change its description of inflation in this policy statement will be one of the focuses of the market’s attention. If the bank still insists that inflation is temporary, it implies that it should not rush to change the current easing policy, which may cause the US dollar to suffer a new round of crit. However, if the Fed admits that inflation poses risks, it will increase expectations for tightening policies, thereby providing strong support for the US dollar.

In addition, because the scale of reverse repurchase frequently hits new highs, whether the Fed makes a relevant statement on this is also worthy of attention. At the same time, the Fed’s latest quarterly economic outlook and dot-map will provide more guidance for judging the FOMC’s economic outlook, labor market, inflation expectations, and interest rate trends, and they cannot be ignored.

In short, if the Fed releases its hawkish tendencies, especially on the issue of inflation, it will be considered by the market as a signal that the bank is about to turn, and may become the fuse for the dollar to initiate a bull market; however, if the Fed still insists on inflation If it is temporary, the market will interpret that the bank is not in a hurry to tighten policy, which may cause more plunges in the dollar.

Technical analysis of the US dollar index: the performance of a position is extremely critical

The daily chart of the US dollar index shows that the price fell to 89.54 (May 25 low, A point) after hitting 90.91 (X point) on May 13 and then the market rose and hit 90.63 (June 4 high, Point D), but quickly retreated significantly and formed a bearish Gartley pattern: 0.618XA=AB, 0.886AB=BC, 1.27BC=CD, 0.786XA=AD, AB=CD.

However, the downward market was supported by 0.786AD (89.77) and stabilized the downward trend line since March 31, avoiding further expansion of the decline. The key pressure above is at 90.63. If it breaks through effectively, in addition to destroying the above-mentioned Gartley pattern, the market will also constitute a bullish 123 rule, or confirm a phased bottom. It does not rule out expanding the increase to 91.00 or even 91.50.

If the price drops significantly below 89.77, the market does not rule out falling to 89.50 or even 89.21 levels for support.

Investors in high spirits Why the DAX rushes from record to record

Status: 14.06.2021 4:03 p.m.

While the economy is only slowly picking up pace after the Corona openings, the German stock market does not seem to be stopping. What are the main reasons for the price boom? From Lothar Gries, tagesschau.de The German leading index DAX rose by up to 0.7 percent in the morning and climbed to a record high of 15,802 points – the 23rd record this year. The index has risen by 15 percent since the beginning of the year. The stock exchanges are also in record-breaking mood at the European level. The Stoxx 600 index, comprising 600 values, also climbed 0.7 percent today and reached its 38th high this year with 460.51 points. The stock markets are fired from several sides. The most important driver is the expansionary monetary policy of the central banks in the USA and Europe. Since the European Central Bank (ECB) lowered the key interest rate to zero on March 10, 2016, i.e. more than five years ago, the returns on traditional savings offers from banks and savings banks have also shrunk to such an extent that even risk-averse German investors are looking for alternatives have looked around. In addition to real estate and precious metals, stocks are very popular.

More and more shareholders

In this country there were as many shareholders last year as last year in 2001, as determined by the German Stock Institute (DAI). According to this, 12.4 million people in Germany have invested in the stock market, i.e. they owned exchange-traded securities such as fund shares or stocks. Compared to 2019, that’s an increase of 2.7 million or 28 percent. The downward trend of previous years has thus been completely reversed. After the dot-com bubble burst in 2000, the number of equity investors in Germany steadily declined – until interest rates sank to virtually zero. But the ECB has not only boosted the number of shareholders and thus share investments, it is also active on the capital markets itself. In order to keep the economic effects of the corona pandemic as low as possible, the central bank is pumping many millions of euros into the market every day. To do this, it buys bonds issued by governments and companies. By the end of March 2022, she wants to spend the gigantic sum of 1.85 trillion euros, a number with twelve zeros. A considerable part of it flows into the stock market and drives prices to ever new heights.

background 06/10/2021

No end of the flood in sight

In the past few weeks, there have been repeated suspicions that the central banks in Europe and the USA will soon be able to turn the money off again because inflation is reporting back and price increases have shot far beyond the monetary authorities’ targets. But both Jerome Powell, the head of the US Federal Reserve (Fed), and ECB President Christine Lagarde initially gave the all-clear. Just today, Lagarde said in an interview with the magazine “Politico” that the time was not yet ripe for a discussion about an end to the crisis bond purchases by the central bank. “It is far too early to debate these issues,” said Lagarde. The economic recovery must be firm, solid and sustainable. Don’t take a patient’s crutches off until the muscles begin to build up sufficiently – so that the patient can move on their own two legs again.

background 03/10/2021

V-shaped economic recovery expected

In addition, investors are assuming that the pandemic-related restrictions will end soon. “The pandemic is no longer an issue at the latest with the now significantly lower number of new infections, and investors also seem to be able to come to terms more and more with the fear of inflation,” says market expert Milan Cutkovic from brokerage firm Axi. With the decline in Covid-19 restrictions, growth expectations are skyrocketing around the globe. The Organization for Economic Cooperation and Development (OECD) expects the global economy to grow by 5.7 percent this year. For Germany, the federal government expects growth of up to four percent. The prognosis from the beginning of the Corona crisis that there will be a V-effect in which the economy first collapses, but then quickly recovers, seems to be confirmed. This is rather good news for equity investors, because they hope that a growing economy will generate increasing profits and thus rising prices for listed companies.

Price turbulence ahead?

This combination of a zero interest rate policy, a glut of money from the central banks, a growing number of shareholders and the expectation of a rapid recovery in the global economy is driving share prices to ever new heights. But the air is getting thinner. Many investors are watching the Fed’s monetary policy deliberations this Wednesday. It is true that the Fed is not expected to deviate from its current course and end the boom in the financial markets. “But their projections on inflation, interest rates and the economy could cause price turbulence,” says Naeem Aslam, chief market analyst at the brokerage firm AvaTrade.

Despite rising inflation Why the ECB is not raising interest rates

Status: 10.06.2021 8:28 a.m.

Inflation is increasing in many European countries. Nevertheless, the European Central Bank wants to stick to its loose monetary policy. How long can she keep this course? By Klaus-Rainer Jackisch, MR The circular saw is still running. But the little wood that is left is not enough at the front and back. The large warehouse in the North Hessian Baunatal is usually well filled. But wood has been in short supply for weeks. “There has never been anything like it,” says Zimmermann and company owner Peter Hellmuth. The specialist fears further bottlenecks in the summer. Although demand is booming, there could even be short-time working. Because in Corona times there is more handicraft, building and tinkering, but also because the USA and China are buying empty the world market, there is currently too little wood . In April prices were almost 30 percent higher than in the same month last year, and the trend is still increasing, according to the Federal Statistical Office. Also at other raw materials are skyrocketing : Iron, steel and aluminum scrap rose by more than 60 percent, pig iron costs almost a quarter more, and the prices of electronic circuits rose by around 14 percent.

Above all, energy is more expensive

But energy prices climbed the hardest. Imported electricity, which is becoming more and more important because the amount of energy generated from sun, wind and water fluctuates sharply, even rose by 200 percent. People also had to dig deeper into their wallets for electronics and food. Inflation is back. It is coming with great strides. It is currently 2.5 percent in Germany . For the autumn, the Bundesbank and many economists expect inflation rates in this country of over four percent. Such values ​​have not existed for almost three decades. The last time the prices climbed above the four percent mark in 1993. At that time, inflation was 4.5 percent, according to statisticians. The price surge is particularly noticeable in Germany: the return of VAT to the old values ​​and the massive CO2 pricing since the beginning of the year are making themselves felt. The upturn in the economy does the rest: Through successes in vaccinations and easing, the demand for goods and services of all kinds is increasing, while at the same time supply is scarce – all of this is causing prices to go up.

Hardly any compensation through higher wages

Also in Europe: There the inflation rate rose to 2.0 percent in May. In addition to Germany, people in Austria (3.0 percent), Estonia (3.1 percent) and Luxembourg (4.0 percent) in particular have to pay more. All of that hurts, because because of Corona there are rather poor results in the wage rounds and therefore hardly any compensation. This makes price increases even more noticeable. But none of this makes much impression on the European Central Bank (ECB). It is expected that the company’s own forecasts, which will be updated this week, are well above the old estimates. It is also becoming apparent that inflation will by no means abate in the second half of the year as originally expected, but rather, on the contrary, reach new highs. But the monetary authorities in Frankfurt’s Eurotower see no reason to act. For weeks now, the members of the ECB’s Executive Board have repeatedly emphasized that the economy is recovering well, but currently still needs the support of an ultra-loose monetary policy. A repayment of the controversial bond purchases or even a turnaround in interest rates is not even hinted at.

Worried look at the financial markets

Instead, the ECB continues to pump billions from its Corona aid program PEPP into the markets at great speed – currently it is around 80 billion euros per month. This is intended to offer sufficient capital on favorable terms and to keep interest rates low. “The ECB has committed itself to ensuring favorable financing conditions during this phase,” said ECB President Christine Lagarde in Paris last week. This promise will also be kept. In fact, the ECB is not that unhappy about the price surge. The self-imposed inflation target of almost two percent has not been achieved for about ten years because one crisis chases the next. If this is different this year, it could be sold as a great success in your own monetary policy – even if the pendulum swings beyond your own target. In addition, one looks at the financial markets with concern: there share prices, also and precisely because of the ultra-loose monetary policy, have reached a level that has long been decoupled from the real economy in many areas. The central bankers fear that a change in monetary policy could lead to violent reactions and shake the fragile house of cards.

Debt rose sharply

And then there are also the debts: In southern Europe in particular, they have risen again to astronomical heights due to the collapse of tourism in the wake of the coronavirus crisis: Greece, for example, currently has a gross domestic product debt of around 205 percent. This is the highest level in the euro zone and more than during the Greek crisis. Italy, too, is groaning under excessive debts and ailing banks. An increase in the interest rate would not be right. Italy’s central bank chief Ignazio Visco is therefore particularly busy when it comes to sticking to the current monetary policy: “Large and sustained increases in interest rates are not justified by the current economic outlook and will be countered,” he said at the annual meeting of the Banca d´Italia in Rome. In fact, a new debt crisis in the euro zone, triggered by rising interest rates, would be the last thing the monetary union could use now. The central bank governors from Germany and the Netherlands, for example, cannot do much against all of these arguments. They have been calling for an exit from the ultra-loose monetary policy for a long time, but they are in the minority.

Criticism of the policy of the US Federal Reserve

So there are many reasons why the majority of monetary watchdogs prefer to keep their feet still and save themselves over the summer. A change in monetary policy at the council meeting this week is not expected, not even with a hint that it might be imminent. Only the pace of bond purchases could perhaps be slowed down a bit. But that too is unsafe. How long the ECB can continue on its course, however, also depends on the world around it. In the USA, for example, where the inflation rate is now 4.5 percent and the economy because of the two trillion corona aid program of the Biden government is slowly starting to overheat , criticism of the Federal Reserve’s loose monetary policy is growing louder. Economists such as the former IMF chief economist Olivier Blanchard or the leading economic advisor of Allianz, Mohamed Aly El-Erian, fear that the corona crisis could have changed the structure of the economy. It is therefore not at all clear that inflation will recede again quickly. If the central banks act too late and then abruptly, this could lead to upheavals in the financial markets and a recession. The next few months are therefore likely to be uncomfortable for the European monetary authorities. And also for the people in the euro zone. Because one thing is clear: it will be even more expensive.

Representatives of the Cambodian government and a Japanese company are considering the feasibility of establishing an investment partnership mechanism to develop a cannabis production and export project. Accordingly, cannabis will be grown in Cambodia for export to the US and Japan. Cambodia is studying the possibility of growing cannabis for export to the US and Japan. Photo: Khmer Times. Yamato Green said cannabis is considered a medicinal herb in the medical and pharmaceutical fields. The Japanese company affirmed that many businesses are very interested in the potential of investing in this field in Cambodia. Seedlings will be brought from the US to the Southeast Asian country for large-scale production if licensed by the Cambodian government. Yamato Green also added, currently Thailand and Korea have also licensed the production, processing and export of cannabis to the US and Japan on the basis of technical and technology contracts. “We believe that agriculture and food processing are essential to revitalizing Cambodia’s economy and creating hope for society,” the Japanese company said. Yamato Green claims to create an agricultural system “of the future”, to help develop Cambodia’s agriculture with higher productivity, and to promote its products to the world.

Opec Plastics Joint Stock Company, also known in English as Opec Plastics, is headquartered at 13th Floor, BIDV Tower, 194 Tran Quang Khai, Hanoi. The history of the enterprise stretches with important milestones since 2002 as follows: 2002 year Asia Plastic Factory was established and built in Nhu Quynh industrial cluster, Hung Yen province. 2004 Established subsidiaries, namely Dong A AID and Nam A AID, specializing in supplying raw materials for production and distributing products for Asia Plastics Factory. 2006 – 2008 Won Gold Cup for Vietnamese Products, Gold Cup for Environmental Protection, WTO-compliant Products on Intellectual Property, Competitive Trademark. 2009 Established Opec Plastic Joint Stock Company (Opec Plastics., JSC), acquired Asia Plastic Factory. Year 2010 – 2011 The company invests methodically with large capital, senior personnel from abroad, business strategy highly focuses on the value chain and supply chain of the plastic – chemical industry. Year 2012 Put the new factory into operation, in Pho Noi A Industrial Park, Hung Yen province, specializing in the production of export PE packaging. The company became a strategic partner of Dung Quat Oil Refinery, distributing most of PP plastic products for the Plant. 2013 With its position as one of the leading plastic enterprises in Vietnam, with professional management, Opec Plastic continues to expand production and business, create more jobs for workers, and ensure the living standards of the people. employees. Year 2014 to present As the Top Plastic Enterprise in Southeast Asia, the largest plastic resin distributor in Vietnam and Southeast Asia, Opec Plastics always strives to connect and support Plastic enterprises in Vietnam and in the world. world in order to create added value for the parties through win-win and sustainable cooperation. In addition, Opec Plastics is also known as one of the leading manufacturers of biodegradable packaging in the country. Opec Plastic Joint Stock Company is growing and expanding In addition to the head office in Hanoi, Opec Plastic Joint Stock Company also has representative offices and many logistics centers in 3 North – Central – South regions, and representative offices in the United States, Singapore, Indonesia, the Philippines, and China. Quoc, Dubai … have factories producing plastic packaging for export with a total area of ​​​​nearly 10 hectares in Pho Noi A Industrial Park, Hung Yen and at Km 56, Highway 5, City. Hai Duong. These achievements have helped Opec Plastics rank 40th in the Top 100 Largest Private Enterprises in Vietnam and 91st in the Top 500 Largest Enterprises in Vietnam in 2020. As can be seen, the business has completely confirmed it. Top position in Vietnam plastic industry in both depth and breadth. Branch system and factories of Opec Plastic JSC HANOI OFFICE at 13th floor, BIDV Tower, 194 Tran Quang Khai – Ly Thai To Ward, Hoan Kiem District, Hanoi. HO CHI MINH CITY BRANCH at Lot L12A-16, Floor 12A, Vincom Center Dong Khoi Building, 72 Le Thanh Ton, Ben Nghe Ward, District 1, HCMC. CENTRAL BRANCH at Building C1-13, Van Tuong Binh Son Urban Area, Quang Ngai. HAI PHONG BRANCH at Room 703, 7th Floor, LP Builing, No. 508 Le Thanh Tong Street, Van My District, Ngo Quyen District, Hai Phong City, Vietnam. FACTORY 1 at Lot 16, Street 206, Zone A, Pho Noi A Industrial Park, Dinh Du Commune, Van Lam District, Hung Yen Province. FACTORY 2 at Km 56, National Highway 5, Nam Dong, Hai Duong City, Hai Duong Province. How does Opec Plastic Joint Stock Company do business?Continuously increasing capital Formerly known as Asia Plastic Factory, established in September 2009, Opec Plastic Joint Stock Company, formerly known as Asia Plastic Factory, operates mainly in the field of manufacturing foam bags, plastic packaging, etc. plastic beads… with initial charter capital of 55 billion dong. This number is contributed by 3 founding shareholders, including Chairman of the Board of Directors and General Director Dinh Duc Thang (VND 30.25 billion); Mr. Nguyen Minh Tu (19.25 billion VND); Mr. Nguyen Duc Ha (5.5 billion VND). Up to now, through many capital increases, the charter capital of Opec Plastics has increased to VND 550 billion, 10 times higher than before. Total assets by the end of 2019 of Opec Plastics reached VND 7,210 billion, nearly double that of the end of 2016. Equity even reached VND 675 billion at the end of 2019, an increase of more than 8 times in the period. this time. With the ratio of liabilities to total assets regularly maintaining over 90%, most of Opec Plastic’s assets are still financed from debt capital, although this debt ratio is showing signs of decreasing. The business results of Opec Plastics are also significantly affected by the use of high leverage. Revenue far exceeds many “big guys” in the plastic industry Opec Plastic’s revenue grew strongly in the period of 2016-2019 during the expansion process, sometimes reaching double the figure of Tien Phong Plastic (code NTP) and Binh Minh Plastic (code BMP) combined and high much higher than the target of An Phat Xanh Plastic (code AAA), these are all “big guys” in the same listed plastic industry. Specifically, in 2019, Opec Plastics grew 11.5% compared to 2018 when it recorded VND 16,162 billion in revenue. The record revenue that An Phat Xanh Plastic, another big player in the industry, achieved in 2019 is 9,258 billion VND, which is only about 57%. Profits eroded by leverage In 2019, net profit decreased by 64% compared to the previous year when this business only earned 37 billion dong in net profit. With 1,000 dong of revenue, it brought in just over 2 dong of profit, equivalent to a net profit margin of only 0.22%. Profit margins of Opec Plastics are only low because profits cannot keep up with capital raising process. In 2019, the return on equity (ROE) was only approximately 5.5%, and the return on assets (ROA) was only 0.5%.

The victim said that on June 18, 2020, he had invested in GBhub Company and was introduced to this business as a partner of… Google. The reason is that after consulting and researching, this retail investor saw that GBhub Company has a logo similar to Google’s logo, and there are many websites associated with the “giant” of technology Google. Therefore, Mr. Du trusted him, so he invested without thinking much. To open an ID (account) to log into the company’s website, Mr. Du must pay an account activation fee and receive weekly interest. CEO of GBhub . Company After officially becoming an investor of GBhub Company, Mr. Du was given a promise to make investors throughout the provinces and cities in the country more confident such as: opening a visa payment gateway in August and September 2020; open a private exchange of GBPro coin for investors to trade on the exchange quickly; opened an investment fund company, a Block Chain academy in Vietnam in October; and finally opened the “banking portal” GBCloudbank (self-proclaimed international affiliated bank; trading more than 22 different currencies around the world) in November of the same year. Through this “banking portal”, GBhub company said it will pay interest daily and withdraw money directly from USD to VND. Initially, the company paid interest for regular withdrawal so that investors had confidence in the future of the business, so some people in different provinces and cities also put their savings to invest in. However, up to now, GBhub Company has not fulfilled any promises, only opening GBCloudbank and allowing investors to withdraw money in the first month. After that, this account… does not allow withdrawal anymore. For example, investors deposit 10,000 USD, then they will receive interest of 40% of the deposited amount. The next week, they paid $6,000 again, and got a 40% interest again. The third time, they have to enter 10 thousand USD, this time they can withdraw 40% of the amount paid. The fourth time, they paid another 10 thousand USD and the company… locked the phone. GBhub . Company’s “explosive” advertisement From January 2021 up to now, virtual currency participants have not been able to withdraw a single coin from the bank portal and were also emailed by a representative of Google Vietnam “warning about abuse of power and spreading fake logo images”. by Google”. The money that they are receiving daily interest will be sold to the so-called “managers” in Vietnam at extremely low prices compared to the USD price.Currently, the company has blocked the contact of phase 1 investors. with stage 2 and lock the ID (password) so that these victims can do nothing more. According to our research, many victims have used money in savings books, even borrowed, mortgaged real estate documents… to participate in playing virtual money and “lost money”. On April 6, GBhub Company held an office opening ceremony on Le Hong Phong Street (P2Q10) but did not have… a license to operate. Then, on April 24, this business also opened an office in Nghe An, located on Nguyen Quoc Tri Street (Hung Binh Ward, Vinh City). The director of this company is both Malaysian and Vietnamese. On its website, the company advertises that “global membership will surpass one million in the next three years”. LS Nguyen Thi Sinh (Ho Chi Minh City Bar Association) said that the Ministry of Finance needs to coordinate with departments and sectors to come up with regulations to protect the rights and interests of investors when investing in the virtual currency market. Despite always being warned about potential risks, what makes virtual money still attractive to investors is the huge profit offered to attract. Not to mention, more sophisticated, many virtual currency exchanges also entice investors to buy real virtual currencies, then use these virtual currencies to buy back “junk” virtual money to make high profits, then investors lose everything. their investment amount. Currently, many people are interested in investing in GBhub, especially the elderly in rural areas. It is easy for them to lose money for real money investment games on virtual networks because the servers are located abroad. The company will call from person to person to transact with cryptocurrencies in a short period of time, to avoid statements and documents. After that, the company will close the server (server), that is, delete all original data information of customers, causing them to lose money.

Canh said, the hotter the weather, the more expensive the crabs are. This is a cooling food, can cook many dishes from vermicelli, soup to hot pot. Not to mention, on this occasion, the restaurant is closed, families cook at home more. Therefore, for about a week now, the number of customers ordering crabs online has increased dramatically when Hanoi is experiencing scorching hot days. The price of copper crab is only 130,000 VND/kg, not increasing, but the amount of goods sold every day has increased sharply, she shared. At the beginning of the summer, she only sold about 50-60kg per day. Customers can buy raw crab, shredded crab or pre-ground crab. But these days, the amount of crabs sold fluctuates in the range of 1-1.5 quintals. At the peak like yesterday, 1.8 quintals of crabs were all ordered by customers. Hot weather, people race to order crabs to eat to cool off (photo: Thuy Dang) “I only sell online, but on this occasion customers flocked to order. If you buy less, 1kg, if you buy more, 2-3kg each time to eat gradually and also to save money on shipping,” she said. Most customers choose to buy ready-made crab (with the shell and bibs removed) or pre-ground crab because it’s convenient, so she has to mobilize her parents and her two children to make crabs in time for the shippers to deliver the goods. guest. “Every day I have to work from 4 am until all the crabs are sold out. Fortunately, in exchange for profits, you can earn up to several million dong/day,” she revealed. Ms. Dang Thuy – a focal point specializing in selling crabs online at lane 214 Nguyen Xien (Thanh Xuan, Hanoi), also said that before summer, she only consumed about 12-20kg of field crabs every day. But from the beginning of May until now, she has sold out 40-50kg every day, even up to 60kg of field crab every day. These days, customers often prefer to buy ready-made or pre-ground crabs for processing (photo: Thuy Dang) According to Ms. Thuy, many people are afraid to make crab because it takes a long time, so they choose to order pre-ground. Accordingly, after grinding crabs, she often divides them into small bags for customers to put in the freezer. Each meal takes 1-2 bags to cook, depending on how many or fewer people in the family. The price of raw or pre-ground crab is the same, 120,000 VND/kg. “On this occasion, when the sun is hot, people are afraid to go to the market. Due to the epidemic, they also limited going to crowded places, so the number of customers ordering online increased sharply,” she said. Ms. Hoang Thien Tam from Yen Ninh (Ba Dinh, Hanoi), shared that in the summer, field crabs are her family’s favorite cooling dish. Early in the summer, the weather was not too hot, she still worked hard to go to the market to choose each field crab and ask the seller to grind it for her. The number of crabs bought each time is only about 1kg, just enough to cook a meal. About a week ago, the heat was like fire, she switched to ordering online because she was afraid to squeeze her feet into the market. The amount of crab sold out increased 3-5 times compared to the time before summer (photo: Thuy Dang) “Today I also ordered 5kg of field crabs, thanks to them pre-ground in plastic bags. Crab bricks are also divided into small bags for easy cooking of each meal. She said and said, now that many orders, she also gets free shipping by the owner. On the market today, the price of copper crab usually ranges from 120,000-180,000 VND/kg, depending on the type. In many places, when customers require preliminary processing and ready to go, they often have to pay an additional 10,000-15,000 VND/kg. Small traders selling field crabs at traditional markets said that these days, the amount of crabs consumed has nearly doubled compared to before summer. As for online traders, it was revealed that the number of crabs sold increased 3-5 times compared to other seasons of the year. In hot weather, people are often afraid to go to the market, so they often choose to order online for convenience.

It is known that RM bought a luxury apartment in Hannam-dong for 4.9 billion won (about 101 billion VND) in November 2019. The apartment has an area of ​​​​284.2m2, located in the golden land in Seoul and located in the same building as BTS’s dormitory. On May 5, the leader of BTS sold his apartment for 5.8 billion won (about 119 billion VND). Thus, after just over a year, the male idol has earned a profit of 900 million won (about 18 billion VND). RM became the new real estate giant of Kbiz when he earned a profit of 18 billion dong after only 1 year thanks to the sale of the apartment. RM’s luxury apartment is located in an expensive complex Hannam The Hill of the rich is stunned by the luxury It is known that Hannam The Hill is the most expensive villa complex in Seoul. At the time of 2019, the powerful leader of BTS stunned when it was easy to “buy” an expensive apartment with cash in just 1 time. This is also the residence of many famous Korean stars such as Kim Tae Hee – Bi Rain, Han Hyo Joo, So Ji Sub, Jin (BTS) and many leading Korean businessmen. RM used to be a neighbor of a series of Kbiz stars like Kim Tae Hee – Bi Rain, Han Hyo Joo, So Ji Sub, Jin (BTS),…

Stuffed snails are currently a popular food in the market. Growing commercial stuffed snails is a new economic development direction, many farmers have escaped poverty to get rich. Stuffed snails are easy to raise, do not cost investment but give very high efficiency. Photo: LNC. Ha Son is currently one of the communes with the largest number of people and area for commercial snail farming (with 9 farming households) along with a lot of experience in aquaculture. such as Mr. Nguyen Xuan Bac 5 sao, Pham Hong Hien, Nguyen Xuan Hai (3 sao each), Mr. Tran Van Binh 4 sao… Many households in Yen Son commune (Ha Trung district) also raise snails stuffed with nets. , reaching an income of 35 – 40 million VND / sao (excluding costs), the profit is 2-3 times higher than that of some other aquatic products. Recently, Ha Trung District People’s Committee has implemented a model of linking commercial stuffed snail farming according to the value chain associated with product consumption in Yen Duong commune. The model for assessing the adaptability, productivity, income and economic efficiency of stuffed snails originated from Tam Phuc Aquatic Breeds Co., Ltd (Yen Dinh district), transferring technical advances to farmers. commercial stuffed snails, forming a chain of production and consumption of products. Before the implementation, 2 selected farmers, Mr. Le Van Tuy and Mr. Le Xuan Dau (Yen Duong commune) signed a commitment to participate in the implementation of the model (along with 20 other households in the commune) approved by the Center for Disease Control and Prevention. District Agricultural Service cooperates with District Farmers’ Association to train and disseminate technical knowledge on commercial stuffed snail farming. Accordingly, Mr. Tuy used 800 m2 of farmland for farming ponds, and at the same time received 80,000 seed snails; Mr. Dau uses 700 m2 of farmland to build a pond and receive 70,000 snail seed. Each nest of stuffed snails minus the cost, can give an income of over 60 million VND. Photo: LNC. Households participating in the model receive free support on seeds and techniques. Before stocking snails, the pond is dredged clean, sprinkled with lime powder to neutralize the pH in order to eliminate all kinds of carp, carp, and turtle that can eat snails. The pond bank is cleared of bushes to avoid nesting mice and convenient when harvesting. In ponds, put water hyacinth and water spinach to increase the coolness of the pond and create more places for snails to cling. The water level in the pond is maintained from 0.8-1.5m. The measured pH is 6.5 – 8; Dissolved oxygen reached the permissible threshold, the stocking density of snails was 100/m2 of pond, the weight was from 0.4 – 0.6 grams/individual. Selected snail seed are healthy, good quality, shell is not chipped, stamped, top shell is bright color. When stocking snails, take water from the pond and pour it into pots, drop the media (female duckweed, cassava leaves…) and put the snails in a pot to soak for 10-15 minutes to balance the living environment. pots and then slowly drop the seed snails into the pond gently to avoid building the shells and damaging the snails… The main food of stuffed snails is duckweed, green vegetables, cereals. Snails have the habit of both floating and living on the bottom, moving slowly and unevenly distributed in the pond, often concentrated in some areas in the pond. Therefore, it is necessary to create different terrains and depths to diversify habitats for snails and easily monitor and care for snails. Ha Trung district (Thanh Hoa) is aiming to build the farming of stuffed snails into commodity production, associated with OCOP products. Photo: LNC. After stocking snails until 2 months old, there is no need to change the water. To the 3rd month of culture, change the water once every 2 weeks, each time changing 3/4 of the water in the pond. In the households in the model in Yen Duong commune, due to good management and care techniques, snails grow well, evenly and healthy. After 3 – 4 months of farming, snails reach a commercial snail weight of 25 – 30 pieces/kg, then start harvesting. Use a boat to go around the pond to catch big snails (in the morning) because snails cling to plant leaves, cassava leaves, and duckweed roots to eat, so harvesting is easy… According to the calculations of the households in the model, minus costs, the profit reached 61 million VND/sao (an increase of more than 20 million VND/sao compared to current farming experience). In addition to economic efficiency, the technique of raising stuffed snails is quite simple, the care is not too complicated. The main food for snails is clean and easy-to-grow vegetables, raising stuffed snails has no adverse impact on the ecological environment… Ha Trung district has recently provided technical training for 70 farming households and households wishing to raise stuffed snails to continue replicating in the district, towards building product brands (OCOP). In the early morning, snails often float to the surface, clinging to cassava leaves and duckweed to eat, so farmers can know which areas are more concentrated, avoiding excess or lack of food. Food for snails must be clean, leave the whole plant, leaves, not chopped because snails have the habit of sticking to the surface of the leaves to eat. Only feed concentrates (cereals) once a day. Adjust the amount of food according to the snail’s ability to eat (from 0.5-1% of the snail weight in the pond).

“Enchanted Dolls” is the name of a collection of dolls by Russian artist Marina Bychkova. She has hand-made dolls with distinct beauty. Marina Bychkova’s dolls are meticulously made from makeup, to elaborate costumes studded with expensive gems. These dolls exude a fragile and seductive beauty, different from the usual doll lines on the market. The idea of ​​​​making her own dolls was cherished by Marina since she was just a 6-year-old girl: “As a child, I felt mass-produced dolls were trivial and boring.” It was not until the age of 24, after three years of hard work at Emily Carr University of Art and Design, that Marina Bychkova decided to choose dolls as her career. “Enchanted Doll” is a title based on a short story by writer Paul Gallico. The dolls are meticulously crafted using high-quality materials, such as porcelain, gold, silver, and even Swarovski crystals. The fragile and attractive beauty of the dolls makes others unable to take their eyes off them. Extremely fine jewelry. Let’s admire the beauty of these beautiful magic dolls.

Illustrative image – Photo: Reuters. Ethereum is “occupying waves” in the virtual money market because of its rapid growth. In the past 1 week, the second largest virtual currency in the world has increased by nearly 20%, surpassing USD 4,000 for the first time in the session on May 10. If counted in the past 1 month, Ethereum price has nearly doubled. At nearly 8:00 am on May 11 in Vietnam time, the Ethereum price according to the data on Coinmarketcap.com was $ 3,933, far exceeding the level of $ 176 a year ago. Another virtual currency that has also seen a dramatic rise recently is Dogecoin. However, there is a big difference in the uptrend of Dogecoin and Ethereum that CNBC pointed out. That is, Dogecoin price is pushed up mainly by the status lines (tweets) on the social network Twitter and the “inundation” of the crowd of individual investors on the Reddit forum. Meanwhile, Ethereum has the backing of institutional investors and is heavily chosen for multi-million USD NFT transactions. Ethereum is built on blockchain technology like Bitcoin, but Ethereum’s proponents do not view the virtual currency as a form of “digital gold” – a name attributed to Bitcoin. Instead, many investors, including billionaire Mark Cuban, consider Ethereum to be more applicable. One use of Ethereum is as infrastructure for the decentralized Internet, and people can develop applications on the Ethereum network. With a market cap of nearly $ 482 billion on May 10, Ethereum is now larger than the total capitalization of beverage company Coca-Cola, social network Snap, and Ford Motor, combined. In the world of virtual money, Ethereum is second only to Bitcoin – the virtual currency with a market cap of $ 1.1 trillion. If you bought Ethereum earlier this year, you can now pocket a pretty good return. Ethereum virtual currency price movements in the past 1 year. Unit: USD / Ethereum – Source: Trading View. According to CNBC estimates, with $ 1,000 buying Ethereum on Jan. 1 at $ 731, investors had the equivalent of $ 5,711 on May 10 when Ethereum’s price peaked at $ 4,174. The return on this investment is 471%. This rate of return is higher than the return on Bitcoin investment. If you spend $ 1,000 to buy Bitcoin at the beginning of the year, the investor currently has $ 1,948, equivalent to a near 95% return. However, this does not mean that Ethereum will certainly continue to bring big profits for its investors in the future. Experts always recommend that investors should not pour into virtual money an amount greater than the amount of damage they can accept.

According to statistics, Thanh Hoa has nearly 1,000 species of medicinal plants such as: trichromats, mulberry, tuberose, white mulberry, cinnamon, hi thiem, saffron, tomato thorn, ha thu o, saffron, gao Ancient lam, ivy, mint, mint … In which, there are about 20 species of valuable medicinal herbs. Medicinal species are mainly concentrated in 11 mountainous districts with many endemic species. Growing red peas to raise red ant wings gives economic efficiency dozens of times more than planting acacia. Photo: Vo Dung. In fact, growing medicinal plants brings high economic efficiency, many localities and units in the province have implemented projects and solutions to conserve and develop medicinal plants sustainably, step by step. forming raw material areas for processing. However, the development of medicinal plants in the province is still not commensurate with the potential. For decades, the people of Muong Lat district (Thanh Hoa) have raised red ant wings and harvested plastic. All products are currently purchased by a company in Hanoi. The effect of raising red ant wings on the host tree is obvious, but what makes many people wonder is that the area of ​​red ants farming in the Thanh area is still too small. Mr. Luong Thanh Binh in Zone 3, town of Muong Lat currently has 1 hectare of thyme tree that flies red ants to exploit for resin. According to Mr. Binh, ant wings released on thieu pea trees can be harvested from 2 to 2.5 tons of resin / ha / year. With the purchase price of a unit in Hanoi committed at present, farmers can earn from 80-100 million VND / ha / year on average. According to Mr. Binh, on the border land that is both sloping and nutrient-poor, there is no tree more effective than raising red ants to collect resin from the host tree. As a breeder of red ant wings for decades, Mr. Binh said that raising red ant wings is both leisure and high economic efficiency. Compared with acacia trees, which are commonly grown locally, cultivating red ant wings gives economic efficiency 15 – 20 times higher. Red ant resin is a valuable medicinal material that is currently purchased by businesses with high prices. Photo: Vo Dung. Mr. Binh analyzed: The hills and mountains are exhausted, it is almost impossible to plant anything, there is no manpower, not much capital and time to take care of it to grow acacia. Meanwhile, compared to acacia cultivation, it doesn’t take much effort to grow host crops to raise red ant wings, and invest less … “In the past, Muong Lat people used to drop ant wings on big, tall trees, but later on they mainly raised ant wings on thieu pea trees because they were of moderate height and easy to exploit for resin,” said Mr. Binh. . According to Mr. Binh, thieu peas are leguminous plants, easy to grow, with low nutrient and water requirements and need to be replanted in 3-4 years. If planting pure palm trees as a host tree to raise red ant wings, the retention time is usually 20-30 years, but the disadvantage is that the stem is high and difficult to harvest. Currently, people still like to grow thieu pea to feed red ant wings because in addition to the advantages of low trees, easy to harvest, thieu lentils are also legumes to help improve the soil, simple care, and less pests. part of Muong Lat people plant this plant to release ant wings. Money picking, but not focused Thieu peas are locally available plants that can be propagated by seeds, so planting thieu lentils costs almost no cost in terms of seeds, and also does not need to be fertilized or taken care of. According to local people’s experience, if using thieu bean as host plant, they usually sow seeds at the beginning of the year and plant in April and to October. Red ants are also insects available in the environment. Thieu lentils themselves have “charm”, helping to attract red ant wings. Mr. Ha Van Huan, Zone 3, Muong Lat town, who has 500 thieu pea trees released red ants, about to reach the harvest date. Photo: Vo Dung. The adult red ants will find themselves, parasitize on the thieu pea tree. After laying eggs and hatching larvae, farmers often tie the larvae to the smallpox plants so that the red ant wings proliferate and develop evenly on the host plant and release the resin to exploit. Usually each year, farmers will have two times to exploit plastic in April and October. The product is currently signed by an enterprise in Hanoi with the price of 40 thousand VND / kg. In addition to planting thieu peas on the hillsides, on roadside land, some people raising ant wings also have the idea of ​​planting thieu lentils on the field banks to release the ant wings. Mr. Ha Van Huan, Zone 3, Muong Lat town, who has 500 thieu lentils, has released red ants about to reach the harvest date, shared: Planting thieu peas on the field bank while taking advantage of the excess land and harvesting. are red ant wings. The leaves of the thieu pea plant fall into the field as fertilizer for the plants as well. Next time, Mr. Huan will continue to plant more thieu pea trees on the field banks to release red ant wings. In 2007, Mr. Luong Thanh Binh (Zone 3, Muong Lat town) was supported by Thanh Hoa Union of Science and Technology Associations to train and transfer techniques of raising red ants to exploit plastic. After being transferred, in addition to his family area, Mr. Binh has now developed the farming area to 50 hectares, concentrated in communes Quang Chieu, Muong Chanh, Tam Chung, Muong Ly, Muong Lat town, Nhi Son, Pu Nhi … (Muong Lat district). The current red ants growers and cultivators are mainly the H’mong and Thai ethnic groups of Muong Lat district. According to Mr. Binh, people from Quan Son and Quan Hoa districts of Thanh Hoa province and some mountainous districts of Nghe An province have also contacted him for technology transfer and seed supply. Growing red beans to raise red ant wings can take advantage of a lot of land funds such as village roads, rice fields, pond banks, forest edges … Photo: Vo Dung. Raising red ant wings gives high economic efficiency, but according to Mr. Binh, ethnic minorities in Muong Lat district have not really paid attention. It is a very regrettable thing when the economic conditions of the people here are still many difficulties. “Raising red ant wings is very leisurely and gives high economic efficiency, but in reality, many people still do not understand its value. The elderly and children can also raise and harvest red ants; Where the product comes out is purchased there. I really want to expand the farming area to develop the local economy and increase income for the people, ”Mr. Binh pondered. To make the harvesting of red ants resin easy, Muong Lat people often plant on low host trees with short harvesting cycle. This explains why the cultivation of red ants is not suitable in the forests if they want to green the barren hills. Mr. Mai Huu Phuc, Director of Thanh Hoa Forest Protection Department (Management Board) also said that raising red ant wings to use plastic as medicine brings high economic efficiency. In the past, the Muong Lat District Protection Forest Management Board also raised red ant wings, but mainly selected multi-purpose host trees. Therefore, when the host tree has grown, it is difficult to release and harvest the red ants, so for many years, the Management Board no longer has cultivated red ant wings. This is one of the factors that makes the red-wing farming area not being focused in Thanh Hoa. Red ant’s wing is a red resin excreted by a species of red ant leaf aphid (a member of the ant wing worm family) that sucks on the sap of its host plant. According to traditional medicine, red ant wings have a bitter taste, cold properties, have a heat effect, blood pressure, detoxification, hemostasis, peas … Currently, all the resin of ants harvested in Muong Lat district is under construction. Duc Phu Agriculture and Forestry Joint Stock Company in Hanoi buys buckets for 40 thousand VND / kg.

Produced | Sohu Technology

Author | Song Wanxin

Edit｜ Yang Jin

After the traditional e-commerce of Taobao and Jingdong, and the social e-commerce of Pinduoduo, Douyin put forward a new concept-“interest e-commerce” at the recent e-commerce conference.

According to the explanation by Kang Zeyu, president of Douyin e-commerce, “interest e-commerce” is to tap the potential shopping needs of users based on the content ecology and recommendation algorithm of Douyin. If the traditional shelf-style e-commerce in the Taobao era is that users go shopping with their goals, then “interest e-commerce” is to use algorithms to recommend products that may be of interest to users when they have no purpose.

If you compare Taobao to a shopping mall, Douyin is more like a pedestrian street.

Another new concept was introduced, and the controversy about “whether it is a pseudo concept” also arises. From the perspective of implementation means, the essence of “interested e-commerce” is “commodity recommendation”, and this function is actually not absent on platforms such as Taobao and JD.com. But Chen Jun, a senior practitioner in the e-commerce industry, believes that Taobao does the most to match demand. He told Sohu Technology that the algorithm recommendation is to increase the conversion rate as much as possible, that is, to allow people at each level to get the consumption they need, so as to increase the conversion rate.

Regardless of how “interested e-commerce” is defined, Douyin has come up with algorithmic tools to tap the value of public domain traffic, convert more potential users to shopping live broadcast rooms, and then undertake with a brand with a certain degree of recognition and trust. , Guarantee retention and repurchase rate.

“The efficiency of the Douyin team is still very high. From the start of the e-commerce business to the present, it has output its own methodology in more than a year.” Wuyou Media CEO Lei Binyi told Sohu Technology.

A few days before the Douyin E-commerce Conference, Kuaishou also held a self-e-commerce conference. The live broadcast e-commerce methodology expounded by Kuaishou seems to be quite different from Douyin, but when you look closely, the two essentially have the same demands.

“Rely on public domain in the short-term and private domain in the long-term”, Kuaishou advocates that the promotion of transaction traffic comes from the follow page, so that the master and the merchant have the right to control the traffic. Although Kuaishou emphasized the “private domain” from the beginning to the end of the conference, one detail worth noting is that Simba, who has the strongest private domain traffic, did not appear in any promotional videos of the conference due to the “bird’s nest sale incident”. And the anchor case.

In fact, Kuaishou seems to be deliberately weakening family-style private domain traffic, and instead uses “private domain traffic” to attract mid-waist anchors and business self-broadcasts to balance the power of the family, and covertly transfer to the public domain under the crust of private domain.

With Kuaishou’s listing and TikTok approaching its listing, the two e-commerce businesses have also come to an interweaving point dramatically, that is, the competition for public domain traffic and brand owners. Douyin once again chose to start from the high line, and Kuaishou once again completed the low line and hit the high line from the low line. The short video war between the two sides once again repeated itself in the field of e-commerce.

It’s better to rely on the anchor than the brand

“The vibrato is a lesson learned from Taobao live broadcast and Kuaishou.” Chen Jun said.

In the field of e-commerce, although Douyin is a late player, it may be a smart and powerful opponent. More than a year after Douyin started its e-commerce business, the first e-commerce methodology that has attracted the attention of the outside world is the importance of Douyin e-commerce on brand self-broadcasting.

Since Luo Yonghao launched the first shot of Douyin live e-commerce last year, various celebrity artists have also appeared one by one, but while sales are refreshing high, the industry has also begun to talk about the platform ecology of “Douyin does not have a brother”. Compared with Kuaishou’s strong private domain traffic, Douyin’s public domain ecology is difficult to incubate a benchmark anchor, and it has almost blocked the idea of ​​relying on anchors to bring goods to establish an industry image.

Xiaohulu big data shows that from April to December last year, among the top 100 master anchors in total sales on Taobao, Kuaishou, and Douyin, 45 were Kuaishou anchors, 40 were Taobao anchors, and only 15 were Douyin anchors. Among the top 10 sales talent anchors, 5 are Taobao anchors, 4 are Kuaishou anchors, and only Luo Yonghao is the Douyin anchor.

According to Tencent’s deep network citing people who ran Douyin e-commerce in the early days, 6 accounts were incubated on Douyin, with a total number of fans of about 100,000. However, according to his observation, the number of fans is not directly related to the amount of goods carried. 3 After the monthly explosion, sales have entered a stable period.

This problem is not uncovered within Douyin. At the conference, Douyin e-commerce put forward the “FACT model”, which represents the self-broadcasting of merchants, the talent matrix, marketing activities, and the big V of the head. The four horses are equally important to balance the forces of all parties.

In fact, before the official announcement, the Douyin e-commerce ecology had already formed a big environment where the brand was popular. In August last year, Xiao Dongyu, head of Weige’s MCN brand live broadcast service, told Sohu Technology that Douyin’s head anchors generally tend to work directly with the supply chain, with brand-specific shows accounting for the majority, while Taobao’s mixed broadcasting is the main focus.

“The FACT mode of Douyin deliberately avoids the potential hazards of Hengqiang on the head. There must be drawbacks to only grabbing one head in the private and public domains. The space in the waist really needs a platform to redistribute traffic. What I see is , Douyin is strengthening this transformation.” Wuyou Media CEO Lei Binyi told Sohu Technology.

Judging from the experience of Kuaishou and Taobao, the negative impact of strong top anchors is self-evident. Simba, Li Jiaqi and Wei Ya gradually evolved from platform signs to platform ceilings and began to counterbalance the overall ecological health of the platform.

Take Simba’s return to his debut as an example. Although Simba has tried his best to keep a low profile, it is still difficult to conceal his influence. At the end of the whole live broadcast, Simba recommended a batch of newcomer anchors, and added fans to these newcomers’ accounts. Some of the anchors increased their fans at one time by more than one million orders. In a sense, Simba’s private control of traffic has been Beyond the platform.

Chen Jun said that the essence of Douyin’s support for brand self-broadcasting is to redistribute benefits and achieve a balance between all parties, instead of letting a certain character become fat, and other characters are sucked up.

Kang Zeyu, President of Tik Tok E-commerce, emphasized that Tik Tok attaches great importance to all levels. For Long Tail, Tik Tok will set up a selection alliance to make it easier for them to choose products. There may be some requests for brand cooperation in the middle waist, and Douyin will support it through mechanisms such as Douyin Link. On the head, there are more customization needs, such as building your own team and even brand.

In terms of revenue, Douyin e-commerce is similar to Taobao. Its revenue mainly consists of GMV rake and advertising. Brand merchants can contribute more stable GMV and traffic purchase costs. Moreover, mature top brands have a complete supply chain, which can make up for the incomplete Douyin stores. This all constitutes the reason why Douyin supports brand self-broadcasting.

However, Douyin’s brand self-broadcasting is obviously still in its infancy. Xiaohulu big data shows that of the top 100 stores with total sales last year, 98 live rooms are from Taobao, and only 2 live rooms are from Douyin.

The hidden worries of large-scale anti-super fast hands and Taobao live broadcast

In the outside world’s perception of live e-commerce, Kuaishou e-commerce has a first-mover advantage and seems to be the best in terms of scale, but from the data point of view, there may be some deviations between facts and subjective feelings.

According to a report from the financial media “LatePost”, Douyin’s live broadcast of e-commerce GMV exceeded 500 billion yuan last year. The Kuaishou financial report shows that last year, Kuaishou’s GMV was 381.2 billion yuan, and Taobao’s live broadcast exceeded 400 billion yuan. In terms of scale, Douyin has achieved a surpassing Taobao live broadcast and Kuaishou.

The Douyin e-commerce business plans to raise the GMV target this year to one trillion yuan, doubling the previous year. In contrast, Pinduoduo only broke through one trillion in 2019, compared with 1.6 trillion last year. In other words, if the goal is achieved, Douyin’s e-commerce business alone will surpass the scale of Pinduoduo in 2019.

According to Questmobile data, during the National Day last year, Douyin stores have basically become the only channel for live e-commerce on the platform, accounting for 96%, while Kuaishou stores only accounted for one-third of their revenue, and Taobao and Youzan each accounted for it. one third. From the data point of view, Douyin has basically formed a closed loop, and Kuaishou’s e-commerce revenue still has a high proportion of people making wedding dresses for others.

Since the establishment of the first-level e-commerce department last year, in order to establish a closed-loop Douyin store, Douyin first broke off the third-party platform for live broadcast and delivery, and then launched Douyin payment. In addition, it has reached a cooperation with the big channel brand Suning to support various players. TikTok e-commerce closed loop was established quickly.

However, the construction of the Douyin store and the overall operating system is still relatively simple. After Douyin’s external link was broken last year, Li Jianfeng, the director of Roman e-commerce, once told Sohu Technology that Douyin stores are relatively immediacy, and merchants have not received clear guidance for long-term operations.

It is understandable that Douyin is an e-commerce company starting from its own strengths “recommendation algorithm”, but this also makes it difficult for the “recommended live broadcast” to meet the daily sales needs of merchants. In addition, merchants who have become accustomed to Taobao’s more complex operating rules cannot quickly build a similar operating system on Douyin, and the Douyin platform itself does not have a standardized product similar to Alimama to guide merchant operations.

At the product level, unlike Kuaishou and Taobao live broadcasts, Douyin’s e-commerce portal “Douyin Mall” is located on the personal homepage. There is no classification as a whole. Only the “Guess you like” part recommends products based on algorithms. It is designed as a double-row information stream. In the information flow, live broadcast portals and commodity link portals are mixed.

This shows that “search-based e-commerce” currently does not have a high priority in Douyin e-commerce as a whole.

In addition to the differences in product design, Lei Binyi believes that if Douyin and Taobao are compared, because of their genetic differences, Taobao, as an e-commerce platform, converts traffic to live broadcasts, and the accuracy rate will be higher than that of Douyin.

QuestMobile’s data report in April last year showed that among the current major content platforms, the average conversion rates of Douyin and Kuaishou were 8.1% and 2.7%, respectively. However, there are still differences between sub-industries and brands of different sizes. A person familiar with the matter revealed to Sohu Technology that the conversion rate of Douyin stores is only 1.4% for the top brand in a certain vertical category. The flow of the department is coordinated”.

The greatest insecurity in Douyin’s public domain traffic distribution is reflected in the instability of sales conversion. In such an environment, the top brand can survive the cold start period more smoothly by virtue of a higher consumer awareness base.

Wu Lifeng, head of the e-commerce platform of Peacebird Live, told Sohu Technology that if 1 million people come in to watch the live broadcast during a live broadcast, and 150,000 people will eventually enter the store, the conversion rate can reach 15%, which is already a considerable benefit. From the perspective of the entire brand’s self-broadcasting, the launch traffic accounted for 30%, and the organic traffic accounted for about 70%.

Douyin has already begun to make attempts on private domains. In March of this year, Douyin quietly launched the test of the fan group chat function, and businesses can establish private domain communities on Douyin. For example, Luo Yonghao’s “Make Friends” Douyin fan group has reached 50.

On the other hand, in order to open up public domain and private domain traffic, Kuaishou began to test the e-commerce marketing platform Magnetic Taurus on March 31, and integrate Kuaishou Noodles + Xiaodiantong. As for the shortcomings of “brand self-broadcasting”, Kuaishou is also working hard to erase the prejudice of the outside world. Xiao Gu, the person in charge of Kuaishou e-commerce company, responded, “Many brands ask us whether I can do it in Kuaishou and whether Kuaishou is suitable for brands. It’s suitable for brands, but the way of doing it is different. We encourage store broadcasting and self-broadcasting more.” He explained that if it is a flagship store of XX, the content and trust of store-broadcasting are insufficient. On the brand side, you can open an account to make the personality more interesting.

In the traffic war between private and public domains, the battle between Douyin, Kuaishou and Taobao Live has just begun.

Where is the channel dividend, where is the brand

In the past three years, live broadcast e-commerce has developed rapidly, but it has quickly reached a bottleneck. Among the three leading platforms of Douyin, Kuaishou, and Taobao Live, Douyin is still a newcomer, but it is also the only platform that is still on the rise. In e-commerce, an industry that has high customer acquisition costs and constant need for traffic access, it is the common understanding of merchants to seize Douyin, even if the future of Douyin e-commerce is still unclear.

Earlier, many merchants told Sohu Technology that Douyin’s disconnection of external links last year did cause them a relatively large turmoil in the short term. Originally, there was no plan to open a small store on Douyin, but considering that Taobao has not too many Incremental space, just to be on the safe side, still cannot give up the market of Douyin.

“We are indeed investing more operational energy in Douyin now, because relatively speaking, Taobao’s live broadcast pattern has been more solidified.” Lei Binyi told Sohu Technology. He observed that even if it is Taobao’s head anchor, Spending a lot of money to advertise outside the site, such as WeChat’s Guangdiantong and various other channels.

Recently, Tmall has rarely lowered the threshold for merchants to enter. After April 19, newly opened stores can become official Tmall stores only by passing the 7-month trial operation capability assessment. This is the first time that Tmall has revised its store opening rules since its establishment in 2009.

Where the channel dividend is, where is the brand owner. Its own bottleneck and Douyin Kuaishou’s plundering of merchant resources are increasing the sense of crisis on Taobao and Tmall.

In fact, the Taobao brand has already worked hard in the field of self-broadcasting, and it has become a standard for Taobao live broadcast. However, Lei Binyi pointed out that Taobao’s live broadcast mechanism has defects in store self-broadcasting. “Taobao’s service fee for proxy broadcasts is paid by the hour. Paid, that is, how much is an hour, but Douyin is a cost model of CPS (charged by actual sales volume), which is obviously more effective in motivating anchors.”

QuestMobile’s live e-commerce report in October last year showed that as of September 2020, the proportion of users watching live broadcasts on Kuaishou and Douyin platforms has reached around 80%, and the user habits of live e-commerce have basically formed. However, it is worth noting that the proportion of Kuaishou head KOLs participating in live broadcast is 58.5%, and the proportion of carrying goods is 36.6%. In contrast, the proportion of Douyin head KOLs participating in live broadcast is about 27.5%, and the proportion of carrying goods is 51.2%.

In other words, although Kuaishou has created its image as the “first live broadcast e-commerce platform”, Kuaishou still dominates live entertainment. On the vibrato, more than half of the anchors who started live broadcasts for the purpose of bringing goods accounted for more than half.

Under the influence of head anchors such as Simba, Li Jiaqi and Wei Ya, Hengqiang, the waist and tail anchors began to test the waters in many ways. The person in charge of MCN once told Sohu Technology, “The anchors are studying how to drain traffic more accurately. Taobao does not The method is to provide traffic to the live broadcast room, but Douyin can. The two sides have very different operating methods for the anchors. Therefore, many mid-waist anchors can only test the water in many ways, and a small proportion of them are “out of the country”.”

E-commerce anchors are fleeing Kuaishou and Taobao, and the agency service providers are also seeing the dividends of Douyin.

Chen Jun told Sohu Technology that the service provider of TikTok Lining’s official account used to be mainly engaged in content marketing, but only transformed into an e-commerce agency operation in August last year. “Originally, the company was almost unable to sustain it. After the transformation, it is now one month later. The transaction turnover is about 50 million.” He said that the general trend of brand self-broadcasting will drive the rapid growth of the entire agency operation industry.

On the whole, the basic ideas of Douyin e-commerce, the overall framework of the store, the basic disks of the top merchants and users are all in place. The next decision is whether the wild growth of GMV can last or not, which is the most critical user experience. , And whether internal management can keep up with the speed of business expansion.

An insider of Douyin revealed to Sohu Technology that the two e-commerce departments within Byte are trying to integrate. One is the e-commerce department of the group established in June last year. Before the establishment of the department, Douyin already had one of its subordinates. E-commerce department. And BYTE hopes to put the old e-commerce department under Douyin into the commercialization group, that is, Zhang Lidong’s subordinates.

“This year Douyin is going to engage in e-commerce.” The insider said. After Douyin catches up on the scale of GMV, whether it can reverse the live broadcast e-commerce landscape and carry the imagination of going public, perhaps there will be an answer within the year.

(At the request of the interviewee, Chen Jun is a pseudonym)

Huong has a 4-year-old boy. Since seeing the bento boxes of Japanese and Korean mothers, she has paid attention to learn to make interesting meals for her son. Seeing the dishes decorated in funny shapes, filled with childhood colors, everyone admired the craftsmanship of the cook. The beautiful plates of rice lure your children to eat the elastic of the mother who is sure to be “Each meal is like a story to increase the enjoyment of the child, so that he can eat more. When my child is excited to receive such meals, I have more and more motivation to create more meals ”, Ms. Huong said. Also according to Ms. Huong, the ingredients to shape the meal are very close to all families such as rice, boiled vegetables, meat, fish and shrimp … However, they are slightly modified to become catchy. eye more. “Usually, for each meal, I prepare the main ingredients based on the family meal, from which I have ideas to shape according to the ingredients in that meal. Once you have an idea, the implementation is quick and simple ”, said Ms. Huong. To ensure proper nutrition for children, Ms. Huong often processes food in the form of steaming, boiling or stir-frying. The cooked rice is shaped and decorated with seaweed leaves. “Actually, when you are passionate about doing, everything will be very simple, not as fussy as people imagine. It is important to step up the idea, usually after shaping, the food will cool a little, so before the child eats, I put it in the microwave for a few seconds to get hot, ”Huong revealed. The attractive dishes of Ms. Huong after being posted on social networks received praise from everyone. That seems to encourage her to actively make more lively “works”. “Although each person has an opinion, a mother thinks that it cannot be time or meticulous to do, but for me this also includes passion. I keep thinking simply, when I like to do something, I will invest my best in it, I will be successful ”, said Huong.

This is an indicator that Vietcombank will reach and exceed its profit target for the whole year 2021. Previously, Vietcombank pre-tax profit in 2020 reached more than 23 trillion dong, equivalent to 2019 and reached 116.3% of the plan assigned by shareholders. Market capitalization by the end of 2020 reaches 15.7 billion USD and by April 22nd is over 16.4 billion USD – leading the industry. Expectedly, in 2021, the bank sets a target of 11% consolidated pre-tax profit (estimated at 25,585 billion dong), and separate pre-tax profit of 25,000 billion dong. Total assets are targeted to increase by 5%, capital mobilization from the economy increases by 7%, credit increases by 10.5%, and bad debt ratio is below 1%. In addition, the bank also plans to pay 2021 dividends at a rate of 8%. Mr. Nghiem Xuan Thanh, chairman of Vietcombank, said that the bank has set a strategic goal of 2 billion USD profit by 2025, of which the retail segment will contribute 50%, regardless of the Covid-19 epidemic affecting economy in general. Vietcombank also plans to increase its capital by more than 13 trillion dong to over 50 trillion dong by issuing shares to pay dividends from the remaining profit in 2019 and issuing separate shares with a scale of 6.5. % charter capital for up to 99 investors. Strategic partner Mizuho Bank will buy about 46.1 million additional shares to keep a minimum ownership rate of 15%. The bank continues to make great profits. Currently, Vietcombank is the bank with the highest new credit in the system. Therefore, if the capital is not raised, Vietcombank will not ensure the capital adequacy ratio as prescribed and this will affect the bank’s ability to provide credit to the economy, affecting its operational efficiency. In 2021, VCB expects that its total assets growth for the whole year will reach 5%, capital mobilization will increase 7% and credit growth will reach 10.5%. In the first quarter of 2021, many banks recorded high profit results and also set high targets for the year. VIB Q1 profit before tax increased 68% to more than 1.8 trillion dong thanks to the growth in scale and quality of the asset summary sheet, along with diversifying income sources. non-credit. ROE is 31%, highest in the industry. Also in the first quarter, Ho Chi Minh City Development Joint Stock Commercial Bank – HDBank (HDB) of billionaire female billionaire Nguyen Thi Phuong Thao recorded pre-tax profit of over 2.1 trillion dong, up 88% year-on-year. . During this year’s congress season, many banks have set out very impressive profit growth plans. Tien Phong Commercial Joint Stock Bank (TPBank) of Mr. Do Minh Phu is expected to grow 32% of its profit before tax this year compared to 2020, equivalent to about VND 5,800 billion. Saigon Hanoi Commercial Joint Stock Bank (SHB) of Mr. Do Quang Hien approved the highest 2021 profit plan to increase 88% to 6,100 billion if the bank completes raising capital in the third quarter. Viet Capital Commercial Joint Stock Bank – Viet Capital Bank (BVB) aims to grow 44% of its profit in 2021 thanks to its strategy of promoting retail sales, increasing bad debt collection, expanding network of operations … On the stock market, bank shares have risen sharply. From the beginning of this year to the end of the third week of April 2021, many Vietnamese banking stocks have had a very high growth rate of over 50%. The average increase in the banking sector’s share price was 15%, higher than the 10% increase in the number of VN-Index. The dominance of bank share prices is driving the entire stock market. It is forecasted that the profit of listed banks will grow 25-30% this year will be the main driving force to make bank shares more exciting. On the stock market (stock market), the VN-Index recovered to close to the threshold of 1,250 points. Closing the session on April 23, the VN-Index increased by 20.71 points to 1,248.53 points; The HNX-Index fell 3.4 points to 283,634 points. Upcom-Index increased 0.65 points to 80.4 points. Liquidity reached 23.3 trillion VND.

Specifically, Techcombank targets 2021 consolidated pre-tax profit at 19,800 billion, up 25.3% compared to the result in 2020. Credit balance is expected to reach nearly 356,200 billion, growth of at least 12%. compared to last year and within the amount allowed by the State Bank. Deposit value (including certificates of deposit for individual customers) is expected to reach VND 334,291 billion, growing at least 14.7% and in line with actual credit growth. Notably, Techcombank targets 2021 consolidated pre-tax profit to reach 19,800 billion, up 25.3% compared to 2020. NPL ratio is expected to be below 2%. Techcombank 2021 shareholders meeting Techcombank’s management said it would improve efficiency by concentrating resources to increase demand deposit balance (CASA), on home buying value chains, real estate and high-income customers. Techcombank will also focus resources on customer-transaction banking platforms; upgrading credit processes; providing the right process for customers, minimizing the time to reach “approval”; analyzing data to gain insights into customers; creating a technological platform for building and implementing specialized financial products and services … At the meeting, Techcombank continued to submit to shareholders not to pay dividends, which meant keeping more than 26,700 billion dong of undistributed profits for business operations. At the same time, the bank continues to submit to shareholders the plan of issuing shares for selected employees (ESOP). Number of shares expected to be issued is more than 6 million shares, selling price is 10,000 dong / share. Shares are restricted from transfer for 1 year. In addition, at this meeting, a new member of the Board of Directors will be elected with the candidate Mr. Ho Anh Ngoc (Chairman Ho Hung Anh’s younger brother). Thus, the number of members of the Board of Directors of the bank is expected to increase from 8 to 9 people. Mr. Ho Anh Ngoc was born in 1982, holds a Master’s degree in economics from Macquarie University Sydney, Australia. He is also a CPA member of the Australian Auditing Association. Since 1/2007, Mr. Ho Anh Ngoc has held many positions at Techcombank, from Deputy Director of Consumer Service Card Center; Director of Ho Chi Minh City Branch; Deputy Head of Wholesale Banking Division and Head of Wholesale Banking in the South, … Currently, he is holding the Southern Representative Board of Techcombank, is the Chairman of the Board of Directors of One Mount Group, Chairman of JSC 1MG Housing, Chairman of JSC One Distribition. In addition, from 1 / 2013-5 / 2018, he was a Vice Chairman / Chairman of the Board of Members of Techcombank AMC. From November 2011 to January 2013, he was Vice President cum General Director of Thao Dien Investment Joint Stock Company, … HA Techcombank aims to make a “huge” profit of nearly 20,000 billion in 2021

Traphaco’s system of medicine blister blister machines Specifically, net revenue reached nearly 472 billion, up 20.4% over the same period, after subtracting COGS, gross profit reached 265 billion, up 21% compared to the first quarter of 2020. Profit after tax reached VND 55.3 billion, an increase of 35% compared to the same period of 2020; Parent company EAT is more than 51 billion. In 2021, Traphaco sets a double growth business plan with the goal of consolidated revenue and profit after tax of VND 2,100 billion and VND 240 billion, up 10% and 11% respectively compared to the performance of 2020. Thus, after the first quarter of the year, the Company has reached 20.8% of the revenue plan and 23% of the profit after tax plan of the year. In the period of 2021 – 2025, Traphaco expects that the growth rate of revenue and pre-tax interest can reach a compound rate of 13.3% and 15%. Traphaco also said that during this term the company will restructure the traditional and non-traditional medicine businesses, in which the company will increase the proportion of the western medicine industry. When consolidating the business segments, Traphaco believes that the growth rate will be even higher than the plan set out for the 2021 – 2025 term. At the close of the session on April 22, TRA shares increased slightly by 0.1% to VND69,900 per share.

Illustration. Source: Internet According to the US Federal Revenue Service (IRS), virtual currency needs to be taxed as an asset. When using virtual currency to trade, it also means that this type of asset is being sold. On the other hand, if the user is paid in bitcoins then that amount is valued as a taxable revenue. Almost every cryptocurrency transaction is taxable and requires registration. Despite the fact that bitcoin and other cryptocurrencies are virtual, they have a sizable impact on taxes in practice. Tax debtors will incur both interest and penalties, possibly even criminal prosecution in some cases. How does the IRS control the virtual currency tax? According to Mark Luscombe – a federal tax analyst at Wolters Kluwer Tax & Accounting, any business transactions over $ 600, whether issued to a non-employee or paid to an employee are required to be reported to the IRS. Additionally, at each individual income tax return, any federal taxpayer must honestly answer the question: “At any time in 2020, have received, sold, sent, or exchanged Or is there a financial gain in any virtual currency? “. Together with the US Department of Justice, the tax authorities are taking measures to ensure that people comply with regulations on taxes. The IRS has launched a “virtual currency tax compliance” campaign aimed at reaching and inspecting taxpayers extensively. In addition, the IRS sent documents to 10,000 people to remind citizens of their crypto-related tax obligations, urge them to check and revise their previous declarations if they owe taxes, interest or penalties. . States of the United States have tax electronic money transactions are not ? Cryptocurrency transactions in the US can be taxed. Most states do not have specific crypto legislation, meaning the majority of states will comply with the federal lead in income tax regulations. Any money people make from crypto investments or income payments will count towards the total personal income. Most states use the AGI (an individual’s gross income adjusted for allowable discounts) that federally regulates do. Cryptocurrency transactions continue to be taxed in 2021 By 2021, crypto dealers must report all of their business profits and losses. The tax on virtual currency will depend on the difference between a person’s virtual investment and earnings. If your virtual currency investment increases in value by the time the asset is sold, your earnings will be taxed as regular income. If the investment period is longer than one year, it is subject to capital gains tax. In addition, there is a loss on the sale, the loss of fixed capital can be offset by the gains that are incurred in other investments. The difference when using virtual money to pay Using bitcoin to pay also means that users are selling this property. Trading in bitcoin is likely to receive profit or loss in return. The IRS notes that Bitcoin’s rate is not anchored to any other currency, but entirely dependent on market supply and demand. Bitcoin is currently one of the purest free-market assets because it is freely traded in huge volumes globally without any control. Unlike credit cards, the cost of sending Bitcoin is completely voluntary by the sender (not the receiver). The higher the fee for sending Bitcoin, the more pre-processed the transaction is by the network. The fee for paying in Bitcoin is much cheaper than paying by credit card or wire transfer. The cost of sending money through Bitcoin is independent of the number of deposits, making Bitcoin very attractive to those who want to send money in bulk.

Coach Solskjaer can be given tons of money to buy if MU changes owners During the years as MU, the Glazers gave almost all authority to manage the team for Ed Woodward. Perhaps unsuccessful with the transfer contracts, but in the marketplace, Ed Woodward still makes money for the Old Trafford team. He continuously helped the home team sign heavy sponsorship contracts, culminating in the deal signed with TeamViewer, helping MU to bring in 70 million pounds / year. This is the largest shirt advertising contract in the history of the Premier League. The huge reliance on Ed Woodward is one of the reasons that when the executive vice president leaves, the Glazers will also have to consider the possibility of transferring MU, especially when they can reap interest. more than 3 billion pounds in this case. Because, Mohammed bin Salman, Crown Prince of Saudi Arabia, always wanted to buy MU Two years ago, he offered to pay 4 billion pounds to win the ownership of a rich traditional English team. If this offer is valid, the Glazers will profit more than £ 3 billion because in 2005, they only lost £ 800 million to buy the team. This is a very hard to resist profit. Currently, MU’s value is valued at £ 3.4 billion by Forbes. Obviously, in the difficult context of the current epidemic, the Glazers family has difficulty finding a better partner than the Crown Prince of Saudi Arabia, especially when the wave of protest against them is escalating because MU is among the 12 demanding teams. breakaway “starting UEFA with super project European Super League. But, the problem is whether this powerful man of the Middle East is still interested in the ambition to own MU, after he failed in England, with the failed acquisition of Newcastle? Sponsorship news

FTP stock price chart from the beginning of the year to now. FPT Joint Stock Company (FPT code-HOSE) has just announced business results for the first quarter of 2021 with revenue and profit before tax increasing by 14.4% and 22.3% year-on-year. Accordingly, at the end of Q1 / 2021, FPT’s revenue reached 7,586 billion VND and pre-tax profit reached 1,397 billion VND, up 14.4% and 22.3%, equivalent to 102% and 105% of the year plan. According to FPT, the strong growth in revenue and profit was due to the highest growth in technology sales in the last 4 quarters and the strong growth in the Telecommunications and Education sector. Specifically: Technology sector contributes 40% to the total profit after tax and 55% of the total revenue of the Group. New sales of Technology sector reached 5,834 billion VND, the highest level in the last 4 quarters and increased 46.3% over the same period. In addition, with the orientation of focusing on digital transformation for the customers of the Government and large enterprises, at the same time focusing on developing solutions, Made by FPT platforms, and information technology services for the market. FPT’s domestic market recorded high growth in both revenue and profit after tax, reaching VND 986 billion, up 40.1% and VND 59 billion, up 1,828.7% over the same period. In foreign markets, the revenue from IT services recorded VND 3,169 billion in revenue, up 9.6% over the same period. Profit after tax of this service sector reached VND495 billion, up 16.4% compared to quarter 1/2020, when the international market was not affected by Covid-19. With the strategy of “whale hunting” (focusing on large enterprises and high value contracts), FPT successfully signed 04 large contracts with sales of over 5 million USD / contract in Q1. / 2021. As a result, new sales of foreign markets increased by 43%, reaching VND 4,489 billion, which is the basis for accelerating the growth rate of revenue and profit in the remaining quarters of 2021. Telecommunication Division recorded 2,925 billion in revenue, up 9.6%, and 576 billion in profit after tax, up 29% over the same period. In which, the Telecom Services sector achieved VND 524 billion in profit after tax, up 30.7% thanks to the improvement in the after-tax profit margin of the Broadband Services segment as well as the new profit from the TV service segment. pay. Meanwhile, the revenue from the Education sector reached 698 billion VND, up 57% over the same period. It is known that the company’s General Meeting of Shareholders approved the business plan in 2021 with revenue of 34,720 billion VND, an increase of 16.4% and pre-tax profit of 6,210 billion VND, up 18%.

The director, former deputy director, chief accountant of Bach Mai Hospital was arrested for overriding medical equipment prices and appropriating money from patients (Photo: Ministry of Public Security) This is the main content in the evaluation conclusion of the Rosa Robot surgery at Bach Mai Hospital, conducted by the Investigation Police Agency, the Ministry of Public Security. Collusion to “blow prices” on the pain of the patient The conclusion of the investigation of the criminal case, the request for prosecution of the Investigation Police Agency clearly indicated: Mr. Pham Duc Tuan – Chairman and Director of BMS Company – met with Mr. Nguyen Quoc Anh to offer to Bach Mai type robot Rosa costs 39 billion VND and Mako robot costs 44 billion VND in the form of joint ventures and associates. After that, Mr. Nguyen Quoc Anh decided to approve the joint venture to connect the device with BMS Company without going through the Party Committee, Board of Directors and Union of Bach Mai Hospital. Rosa robot imported by BMS Company from France to Noi Bai airport is 100% new and the original price is more than 7.4 billion dong, but it was agreed by Mr. Nguyen Quoc Anh and Mr. Nguyen Duc Tuan to bring to Bach Mai Hospital. at the price of 39 billion dong. Rosa robot is used in cranial surgery (Photo – medgadget) The investigation concludes that Nguyen Quoc Anh has created conditions for BMS to join the joint venture and install the machine at the wrong cost to collect money from the patient. / 2020, Bach Mai Hospital used this robot to perform cranial surgery for 639 cases, earning more than 22.9 billion VND. Bach Mai Hospital has paid the cost to BMS Company related to 551 surgical cases in the hospital. In particular, according to the assessment conclusion, the pre-surgery robot Rosa is more than 6.6 million VND / case but Bach Mai Hospital and BMS Company collect more than 23 million VND / case; enjoy the difference more than 16.5 million VND / shift. Up to now, Bach Mai hospital has just contacted, paid the difference above for 86 patients. Currently, the accused Pham Duc Tuan has paid 10 billion VND to pay the difference of 16.5 million VND for 551 cases of wrong collection. The police investigation confirmed: The behavior of the former Director of Bach Mai Hospital, BMS Company and other related subjects had an agreement, collusion, receiving each other’s will, taking advantage of the policy. mechanisms for socialization, joint ventures, and association in the health sector to act against the law, raise prices for medical treatment without a legal basis, cause property damage to patients and bring benefits to BMS Company and the same interest group in Bach Mai Hospital. Therefore, the Investigation Police Department has concluded, suggesting the Procuracy prosecute Mr. Nguyen Quoc Anh – former Director of Bach Mai Hospital – and 7 accomplices for the crime of “Abusing positions and powers in on duty ”under Clause 3, Article 356 of the Penal Code, occurred at Bach Mai Hospital. Is there a “gap” in medical socialization? The socialization of public services in general and in the health sector in particular is a right policy of the Party and State, contributing to mobilizing all social resources in the context of a tight budget. , to increase investment in facilities and equipment in order to improve the capacity and quality of medical examination and treatment services, to meet the diverse needs and increasing demands of all classes of people, as well as asking indispensable in approaching the world medical achievements of the medical team, doctors. Since 2007, Bach Mai Hospital has implemented many projects on socializing joint ventures, linking the installation of high-tech medical equipment, new techniques, helping patients in the country to be diagnosed. treat many complicated diseases at a lower cost than the overseas medical examination and treatment cost. Bach Mai Hospital (Photo – BVCC) The process of implementing a number of joint venture and medical equipment installation projects at Bach Mai Hospital has revealed the limitations, violations, and even committing crimes “Abusing positions and powers in on duty ”in implementing joint venture project, associated with BMS Company. Because Bach Mai Hospital is a special-class public health facility, the pressure of innovation and the expectation of patients of the family is great, so Mr. Nguyen Quoc Anh has directed the establishment of specialized surgical faculties to develop comprehensive development (Bach Mai Hospital was originally considered to have the advantage of internal medicine), attracting patients, increasing the income of the hospital and the income of the medical team. Therefore, Mr. Quoc Anh strongly agreed with BMS Company to install surgical assistive robots at Bach Mai Hospital, and at the same time, directed and requested Nguyen Ngoc Hien and the Accounting Department to implement the procedures for signing and putting the device into operation on February 27, 2017 (Vietnam Physician Day), bypassing the procedures and procedures in accordance with regulations. On the other hand, the fact that Mr. Pham Duc Tuan and the staff of BMS Company in the process of meeting with the leaders at Bach Mai Hospital with “external” money envelopes contributed to promoting the behavior of the defendants. From the above reasons, the Investigation Police Agency has pointed out that the main responsibility for the above-mentioned violation in the whole case belongs to Mr. Nguyen Quoc Anh – former Director of Bach Mai Hospital – the person with the highest authority. , decide policy, agree on equipment price with BMS, sign joint venture and association procedures. The case of the interest group at Bach Mai Hospital – headed by Mr. Nguyen Quoc Anh and BMS Company “blowing the price” of medical equipment to “eat” on the back of a serious patient has made public opinion frustrated. This incident is a warning bell on the risk of “gaps” in the socialization of the health sector not only at Bach Mai Hospital but also in other hospitals, in need of authorities. function to investigate, clarify and protect people from dangerous tricks of people holding high positions and positions, holding great power.

On the afternoon of April 18, Minister of Agriculture and Rural Development Le Minh Hoan visited, worked and shared stories of modern farmers with leaders and reporters of the Vietnam Agriculture Newspaper’s Representative Office in the Mekong Delta region. Minister of Agriculture and Rural Development Le Minh Hoan visited, worked and shared stories of modern farmers with leaders and reporters of Vietnam Agriculture Newspaper’s Representative Office in the Mekong Delta region. Photo: Hoang Vu. The Minister said that thinking of agricultural production needs to change to catch up with the rapid changes of today’s society. Once, we were forced to increase acreage, increase food production to ensure people’s living and have a surplus for export. Now the need of society is increasing, from eating well to eating well, eating clean and nutritious. Minister of Agriculture and Rural Development Le Minh Hoan visited, worked and shared stories of modern farmers with leaders and reporters of Vietnam Agriculture Newspaper’s Representative Office in the Mekong Delta region. Photo: Hoang Vu. Therefore, the agricultural economy problem posed at present is not how much output is achieved, but the efficiency and investment efficiency. Farmers pocket how much profit from the cultivated area, the yield after each season. It is necessary to link and do cooperative economy to develop, to be able to turn quickly and promptly. In the past, we have made the master plan and investment in infrastructure, but with the Resolution 120 / NQ-CP of the Government on sustainable development of the Mekong Delta, it is necessary to have a detailed plan for each ecological sub-region. Agriculture. Many Vietnamese farmers are very good, very creative, they make many models that are not only suitable, favorable, but also very effective. Specialized, specialized and specialized newspapers Report to the Minister, Editor-in-Chief of Vietnam Agriculture Newspaper Nguyen Ngoc Thach said that the predecessor of Vietnam Agriculture Newspaper was Tac Dat newspaper, named by Uncle Ho and wrote the first issue. Up to now, the newspaper has undergone more than 75 years of development and growth. Editor-in-chief of Vietnam Agriculture Newspaper Nguyen Ngoc Thach said that the predecessor of Vietnam Agriculture Newspaper was Tac Dat newspaper, having spent more than 75 years of development and growth, becoming a specialized, specialized, specialized newspaper according to the report. multimedia direction. Photo: Hoang Vu. There is currently a newspaper development plan for the period 2020-2025, with an orientation to 2030, to become a specialized, specialized, specialized newspaper in the direction of multimedia. Particularly, the representative office in the Mekong Delta region has an important mission to carry out information and propaganda tasks in key agricultural economic regions of the country. Mr. Nguyen Ngoc Thang, Head of Vietnam Agriculture Newspaper’s Representative Office in Mekong Delta, said: The Vietnam Agriculture Newspaper Representative Office in Mekong Delta has been established for 25 years. There are reporters in charge of provinces and resident journalists covering information of the whole region. Officials and reporters are born and raised in the delta, so they are knowledgeable about the locality and agriculture in the Mekong Delta. Mr. Nguyen Ngoc Thang, Chief Representative of Vietnam Agriculture Newspaper in Mekong Delta, reported on the establishment and development of the Office. Photo: Hoang Vu. In 2016, the Representative Office of the Mekong Delta region was awarded the Certificate of Merit by the Prime Minister for outstanding achievements in communication and propaganda, actively contributing to agricultural production in the Mekong Delta.

In the current overall framework of Sino-US relations, what are the special features of climate change cooperation issues? Shanghai once again played the role of a “bridge” at an important moment in Sino-US relations. What are the considerations for this arrangement? Almost at the same time Kerry arrived in Shanghai, a so-called “unofficial delegation” led by the former US Senate arrived in Taipei. The United States has recently played the “Taiwan card” frequently. What does it mean?

Reading Zhengguan exclusively connected with Renmin University of China EU “Jean Monnet” Chair Professor Wang Yiwei, Director of the Institute of International Affairs for interpretation.

Interest groups influence Biden government’s climate policy

Political View: Kerry is the first senior official of the Biden administration to visit China. What is the background and significance of this arrangement? In the overall framework of Sino-US relations, what is the weight of climate change cooperation issues?

Wang Yiwei: China and the United States account for more than 40% of global carbon emissions, and tackling climate change requires the two countries and other countries in the world to work together. Biden will host a climate summit next week, after the US government has officially issued an invitation to China.

Regarding Kerry’s trip to Shanghai, although some Republicans reacted fiercely, the White House has made it clear that the United States will engage with China at all levels, and that the US-China relationship is not confrontation but competition. I think that Kerry came to Shanghai to promote some substantive cooperation. Behind the Biden administration is the support of emerging industry interest groups represented by clean energy companies. This is an important foundation for the United States to seek cooperation with China in climate policy.

Looking back at history, climate change cooperation is a bright spot in Sino-US relations during the Obama administration. At that time, Biden, the vice president, and Kerry, the secretary of state, were both promoters of relevant policies. Relevant interest groups and environmental protection organizations have played an important role in the formulation of the Obama administration’s climate change and energy policies. Today, these groups still play similar roles and exert influence on the Biden administration. U.S. emerging industry interest groups represented by clean energy companies hope that the Biden administration can urge China to take more actions in terms of carbon emission reduction.

On the other hand, climate change is a very malleable topic, involving the construction of the future international structure, especially the game of financial international structure and rule-making. Now, the United States has revealed its intention to build a carbon emission dollar system and wants to link the dollar with carbon emission data. At the same time, the EU is building a carbon emissions trading system to promote the development of the carbon emissions trading market. There are similar considerations behind this.

Responding to climate change, China, the United States and Europe have broad space for cooperation

Political View: Not long ago, at the Sino-US high-level strategic dialogue held in Anchorage, although China and the United States had differences on some issues, both sides agreed to strengthen dialogue and cooperation in the field of climate change, and the two sides will establish a Sino-US climate Joint Working Group on Change. In the context of facing differences in some areas, why did China and the United States take the lead in reaching a consensus on strengthening dialogue and cooperation in the field of climate change?

Wang Yiwei: Since the Biden administration came to power, climate change cooperation has been generally regarded as an area that can be expected in Sino-US interaction. It should be said that there is a certain inevitability and rationality in this. The promotion of climate cooperation between China and the United States on the right track conforms to the interests and expectations of the world.

In my opinion, there are roughly two dimensions that influence the direction of the international pattern in the 21st century. One is climate change and new energy development, and the other is digitalization and intelligence. Both involve the transformation of human production mode, lifestyle and thinking mode. For developed economies such as the United States and Europe, achieving carbon emission reduction is mainly to seek breakthroughs in transportation and lifestyle; for China, carbon emission reduction is from production and lifestyle, transportation, housing and other fields. Apply force directionally. China is not only the “world factory”, but also the world’s largest consumer market. Climate change is a common problem facing the world. China, the United States and Europe have joined hands to address this challenge. They are highly complementary and help avoid disputes caused by homogeneous competition among all parties.

The China-France-Germany Leaders’ Climate Video Summit will be held soon, and the China-EU Investment Agreement will also include new energy development and climate change cooperation as an important content. These are all manifestations of China’s active international cooperation in the climate field. In fact, in the field of climate change, China, the United States and Europe have extensive common interests and room for cooperation. In the next step, the key is to do a good job in carbon reduction, carbon neutralization and related time nodes and procedures, as well as the connection of the rules behind.

In comparison, international cooperation in the digital field faces some practical problems and differences due to factors such as data sovereignty and privacy protection. Of course, the development of a new energy industry will also involve the processing of massive amounts of data, and the response to climate change itself also requires digital assistance. All parties should not only strengthen cooperation, but also play games with each other in the formulation of international rules, especially safety standards.

The Biden administration’s China policy has not yet been finalized

Political View: Recently, the Biden administration has started to play the “Taiwan Card” frequently. According to media reports, on the afternoon of the 14th, former U.S. Senator Chris Dodd led a so-called “unofficial delegation” and arrived in Taipei with two former U.S. Deputy Secretary of State. What do you think about this?

Wang Yiwei: At present, the Biden administration’s China policy has not yet been fully finalized, and it is still in a transitional period. But what has become apparent is that the new administration has inherited the strategy of blocking and squeezing China in the high-tech sector during the Trump era. It is actually an attempt to obstruct China’s high-end development momentum in the global industrial chain, supply chain, and value chain. This is a core issue of the Sino-US game. Whether it’s frequently making a big fuss on the Taiwan issue or forming the US-Japan-India-Australia alliance, it is because the US wants to reshape the global industrial chain and supply chain and suppress and restrict the Chinese economy, especially the high-tech industrial chain and supply chain.

Just earlier this month, U.S. Senator Menendez and others threw out the “Strategic Competition Act of 2021”, requiring the Biden administration to adopt a comprehensive “strategic competition” policy with China. On the 14th, the U.S. Senate Foreign Affairs Committee discussed and voted on the “Strategic Competition Act of 2021.” The various actions of the United States are precisely to hinder the development of China’s high-tech industries.

Political View: At the end of July 2019, the twelfth round of China-US high-level economic and trade consultations was held in Shanghai. After a lapse of 20 months, China’s special envoy for climate change affairs Xie Zhenhua and Kerry held talks in Shanghai. Shanghai once again played the role of a “bridge” between the two sides at an important moment in Sino-US relations.

Wang Yiwei: In his first foreign policy speech in February this year, Biden proposed that US diplomacy will be “middle-class diplomacy.” And Shanghai can be regarded as a pronoun for the rise of the middle class.

In addition, Shanghai has historically served as a bridge and link between China and the United States. On February 28, 1972, China and the United States issued the “Joint Communiqué” in Shanghai, ending the two-year isolation between the two countries and opening a new chapter in Sino-US relations. In 2009, the then-U.S. President Obama made Shanghai the first stop of his visit to China.

The location of the China-US meeting in Shanghai is hoped to eliminate political ideological interference, which to some extent shows the sincerity of the two sides in climate change cooperation.

Head office of LienVietPostBank. (Photo: Vietnam +)

Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank – stock code LPB) achieved a pre-tax profit of VND1,112 billion in the first quarter of 2021, nearly double the same period last year.

This is the quarter with the best business results ever, even exceeding the profit of some previous years of operation of LienVietPostBank.

In addition, by the end of March 31, total assets of LienVietPostBank reached more than 245,200 billion, up over 20% over the same period last year. Capital mobilization from economic organizations and individuals continued to grow well, reaching nearly VND206,300 billion, in addition, outstanding loans from this sector reached over VND 183,100 billion, an increase of more than VND 6,100 billion compared to the end of the year. 2020.

Notably, the proportion of retail growth in credit growth in Q1 reached more than 80%, indicating a consistent orientation of the bank towards the retail segment.

In the insurance segment sold through the banking channel (Bancassurance), LienVietPostBank is among the top commercial banks with the highest sales in the market. Along with the efforts in business and service development, by the end of the first quarter, LienVietPostBank’s net service revenue reached VND 162 billion, an increase of nearly 70% over the same period last year.

On the HOSE, stock LPB is in the group share had the highest market price growth in Q1, up nearly 40%, from 12,400 VND / share in the trading session on 31/12/2020 to 17,350 VND / share in the trading session on 31/3 and now is reaching the price of nearly 19,000 dong / share.

In mid-March, credit rating agency Moody’s upgraded LienVietPostBank’s outlook to “Stable.” This result reflects the bank’s financial capacity, good risk management and long-term development opportunities.

According to the plan, on April 29, LienVietPostBank will hold the Annual General Meeting of Shareholders, it is expected that this year, the bank will set a plan. profit before tax is 3,200 billion. Thus, with the first quarter results reaching 1112 billion, LienVietPostBank has fulfilled about 35% of the profit target in this year’s business plan./.

Pha Lai Thermal Power: Q1 profit slightly increased to VND138 billion despite a 51% decline in revenue.

Revenue in the first quarter of Pha Lai Thermal Power reached more than VND 1,078 billion, down 51% compared to the same period in 2020. Subtracting more than VND 1,048 billion of COGS, Pha Lai Thermal Power earned only nearly 30 billion VND of gross profit, while the first quarter of 2020 recorded more than 168 billion dong.

Pha Lai Thermal Power’s gross profit margin fell sharply to 2.77%, 4.77 percentage points difference over the same period in 2020.

The Pha Lai Thermal Power side said that the power output produced in the first quarter of the year reached 849.66 million kWh, 891 million kWh lower than in the first quarter of 2020, making low revenue from electricity sales and profit from power generation. also affected decrease.

Notably, the company’s financial activities recorded a sudden increase in revenue to more than 119 billion dong, nearly 5.8 times higher than the first quarter financial revenue of 2020. Thanks to that, the profit earned from this activity is also 5 times higher than the same period to over 97 billion dong.

According to Pha Lai Thermal Power, in the first 3 months of 2021, this company has received 97 billion dong of dividend from Hai Phong Thermal Power Joint Stock Company. It is known that Hai Phong Thermal Power in the first quarter has paid 2 dividends in 2020 to shareholders with a total rate of 10%.

This company also plans to submit to the annual shareholders’ meeting in 2021 to pay additional dividends in 2020 at the rate of 14.25%, increasing the total profit distribution rate in 2020 to 24.25%. If the shareholder meeting of Hai Phong Thermal Power approves this content, in the coming time, Pha Lai Thermal Power will continue to record positive signals from financial activities.

Closing the first quarter, Pha Lai Thermal Power reached VND 138 billion in profit after tax, a slight increase of 2% over the same period in 2020.

In 2021, Pha Lai Thermal Power Board plans to submit to the AGM a business plan going backwards with revenue down 32%, pre-tax profit down 66%, standing at VND 5,658 billion and VND 415 billion respectively.

Dividend rate in 2020 submitted to the meeting is 59%, of which the company has paid in advance 481 billion dong, equivalent to 15%.

With the results achieved in the first quarter, Pha Lai Thermal Power has completed 19% of the revenue plan and more than 35% of the profit plan.

As of March 31, 2021, the company’s total assets reached more than VND 6,715 billion, down 7% compared to the end of 2020. In which, cash and cash equivalents decreased sharply by more than 66% to 92 billion VND. . Short-term receivables from customers also decreased by 35% to more than 975 billion.

Total liabilities at the end of the first quarter of 2021 reached VND 478 billion, a decrease of over 36% compared to the end of 2020, of which the decrease was mainly in short-term payables to sellers.

His rabbit farm started operating from December 2019. Mr. Hai analyzed: Rabbit meat is delicious and nutritious, processed many attractive dishes, is one of the foods that are currently favored by many consumers and the market …

Mr. Hai’s rabbit farm has a regular scale of 6,000 animals and is well-invested. Photo: Nhu Cuong.

His barn is about a few hundred meters from his house, on an area of ​​300 square meters of tender land during a period of 50 years. The cage is built in a closed and sustainable way with the entire iron frame, anti-heat roof, and a bright glass window system.

He designed and built a cage with 6 rows of compartments to separate mother rabbits, meat rabbits, breeding rabbits to suit breeding and care. The barn is fitted with LED lighting system, consumes 1500-2000 kW / month, 3 cooling fans with a capacity of 0.4W – 2.2 kW / month, and security camera system.

Water is taken from the family drilled well to clean the barn, clean filtered water to ensure the rabbits drink every day. To avoid environmental pollution and disease prevention, he uses a bioga gas tank to treat liquid waste, daily solid waste is collected to fertilize plants at home.

As a livestock production facility, so the animal husbandry officer in the village and commune often comes to advise him on how to take care of and clean the environment to prevent epidemics, ensure product safety. rate.

Visitors to Hai’s model of rabbit raising. Photo: Nhu Cuong.

The white rabbit he is raising belongs to a New Zealand hybrid rabbit that is purchased from a reputable breed with quality assurance. Rabbit food is biosafety pellets, ordered from reputable dealers inside and outside the district.

Mr. Hai shared: Time to feed rabbits twice a day in the morning and afternoon, but must be punctual. In addition, feed your rabbits with clean vegetables grown in the garden once a day in the afternoon. The mother rabbit is 28 – 32 days pregnant and needs careful care.

Each year, a mother rabbit breeds 6 litters, each batch from 6-8 children, however, it is necessary to choose 6 healthy animals for commercial farming. Breeding rabbits are produced mainly for breeding the next litter or to be sold to people in need.

To prevent epidemics, Mr. Hai implements a vaccination regime of 4 months, 1 time of vaccination, 1 month of 2 days of medicine to prevent rabbits from scabies and ringworm …

From raising to harvest time is about 4.5 – 5 months, each rabbit individual has an average weight of 2.3 – 2.5 kg / head, parent rabbits are 3.5 – 4 heavier, 0 kg / head; Average selling price is 100 thousand VND / kg, selling 80 thousand VND / kg.

Mr. Hai said that raising rabbits is not too difficult, but requires technical compliance, especially ensuring disease prevention. Photo: NC.

When leaving the barn, “Hai Huyen Phat Rabbit Farm” bustles with buyers and sellers, mainly local people, restaurants, restaurants, traders … If processed, transport the products to the buyers.

Mr. Hai did not hesitate to disclose: The initial investment capital was also quite large, estimated at 1.2 billion VND to build cages, livestock tools, food, preventive medicine, 60 million VND for breeding rabbits … Thanks to the methodical investment and strict technical rearing, if subtracting all the costs, the profit is about 400 million VND / year.

Mr. Hai also said that in the near future, he will build a bioga gas tunnel to treat waste, use accumulated capital plus borrow more credit to expand the rabbit farm area by 200 square meters to continue developing the family economy.

Below the post, many people leave comments with the desire to be instructed by this mother on how to make beautiful and delicious food for her baby.

The sure mother being talked about here is the sister Pham Thi Luyen (Hanoi) is currently a preschool teacher.

According to Ms. Luyen, normally she is not an excellent person in cooking, but from the time her child reaches the age of weaning, she also learns and learns by herself to make the dishes that her child loves.

“I joined the weaning groups on facebook and saw other mothers making young tofu from oats, so I tried to try it myself, and came up with a way to mix and feed the baby”, Luyen shared.

When her beautiful dishes received many compliments from everyone, Ms. Luyen herself felt very happy and had more motivation to take care of her child more carefully.

According to Ms. Luyen, the baby snacks made by her are extremely simple, fatty, delicious and nutritious. Called the dish “young tofu” but has nothing to do with beans, but the main ingredient is oats.

Ms. Luyen shares the recipe for this “young tofu” dish, which includes 1 part oatmeal, 3 parts water, mixes the flavor of other tubers and grind them. Then, sift the ground oats twice to filter out the pulp, bring to a boil, while stirring while the oats are thick.

The last step is to apply 1 layer of baby’s cooking oil to the mold, add the boiled oats, wait for it to cool, then put it in the refrigerator cooler.

“During the making process, you should pay attention to the mixing ratio is relatively standard because if it is too thin, it will not freeze. Mothers pay a little attention that the baby will have delicious food and still be beautiful “, Ms. Luyen said excitedly.

Although the legal battle between Epic Games and Apple (US first instance trial) will take place in May, right now the related developments of the case continue to attract attention from the public. .

A few days ago, the Australian trial was postponed for the third time, but the legal documents show interesting information. The Epic Games Store lost approximately $ 181 million in 2019 and nearly $ 273 million in 2020, showing that since its launch in 2018, the company has never been profitable. Also, in 2021, Epic Games’ expected loss is about $ 139 million.

According to Apple forecasts, the business of Epic Games by the end of 2021 has lost $ 600 million after 3 years. To be profitable, Epic Games may have to wait until 2027.

The thing has been predicted from before

In fact, Epic Games has previously confirmed that the Epic Games Store will not be profitable until 2023. On loss information, Tim Sweeney, CEO of Epic Games, is very optimistic: ” Although Apple calls it a loss, in my view it is an investment, which is also the basis for bringing huge profits in the future.

Although the CEO of Epic Games is confident about profitability, it still cannot change the fact that they have “lost”. As a company that owns Unreal Engine tools, the loss of 450 million USD in the past 2 years is beyond the imagination of many people.

In this case, with the backing of the Unreal Engine being used by most of the developers, the Epic Games Store took up to 4 years to be profitable causing people to question whether or not the business strategy is. “Take profit as a profit” of company leaders?

Free business strategy

According to the official data Epic Games published before, the progress of the game store in the past 2 years is very clear. By 2020, the total number of users on the Epic Games Store will reach 160 million, up 56% from 108 million in 2019. Besides, daily active users reach 31.3 million in 2020, increasing 192% and total user time is 5.7 billion hours, up 70%.

But the problem also lies here, in this era, an emerging gaming platform can achieve such a marked growth, spending money is an inevitable option.

According to the New York Times, in 2020 alone, Epic Games has invested about $ 444 million in the monopoly of the game, with Control of 505 Games alone, the amount amounted to 10.45 million USD. Such a huge investment, in exchange for a one-year monopoly of several games, is also Epic’s best weapon for taking the market from Steam.

But Epic’s revenue from these exclusive and third-party games is relatively limited. In 2020, players spent $ 700 million on the Epic Games Store, which is only $ 20 million higher than in 2019. Of which, revenue from third-party titles is $ 265 million, only up $ 14 million compared to 2019. Apple estimates show that if you count transactions in 2019, Epic will lose at least $ 330 million in exclusive expenses.

Of course, in addition to investing money in exclusive content, Epic Games also promotes a free business strategy to attract new users. The $ 450 million loss is mainly due to this business method. According to Epic’s official data, from 2019 to 2020, the platform distributed 180 games for free, with a total value of up to $ 3,862 (US price) with 950 million purchases. This is actually a buy 1 get 1 free, but with a free gift for buyers, Epic Games has to pocket money for the developer.

On the one hand, they’re spending money on game companies and developers for exclusive content, on the other, they’re out-of-pocket attracting players who aren’t willing to pay. After all, in terms of business, Epic Games is the one to lose.

A healthy competition

Indeed, for developers, whether their game has a chance of being included by Epic in the Epic Games Store (471 games in 2020) or directly on Steam, Epic’s arrival makes a difference. special. For the gaming industry, the PC games market is no longer dominant enough and only acts as an incentive for competition. If Epic can gain a foothold, Steam’s upcoming business strategy must also change.

With the strength of the Unreal Engine, Epic Games Store can completely use competitive tactics to disadvantage Steam. However, to challenge Steam’s position is not easy, especially keeping players from paying fees, Epic Games has too many obstacles to overcome before making any profits.

Of course, competition is inevitable and is also a necessary factor for the development of the market. Whether healthy competition can be maintained, that depends pretty much on the final court ruling after the legal battle between Epic Games and Apple is over.