inspiriences

At the ceremony, Vu Quoc Huy, director general of the NIC, said that Vietnam is entering a particularly important transition period, with new breakthroughs in strategic technologies such as AI, semiconductors, biotechnology, renewable energy, and big data that are reshaping the global value chain and changing the structures of economies. "AI is emerging as a central driving force of this revolution, with a forecast scale of contributing up to $5 trillion to the global economy by 2030. Vietnam is determined to participate and establish a solid position in this key field by promoting extensive cooperation with the world's leading countries, economies, and technology corporations," he emphasised. The report is the first document to provide a comprehensive picture of the AI ​​economy in Vietnam, providing international experiences for AI development and analysing opportunities in key economic sectors, while proposing development pillars for the AI ​​economy. This will...

By Aditya Kalra and Munsif Vengattil NEW DELHI () -Nearly all the iPhones exported by Foxconn from India went to the United States between March and May, customs data showed, far above the 2024 average of 50% and a clear sign of Apple's efforts to bypass high U.S. tariffs imposed on China. The numbers, being reported by for the first time, show Apple has realigned its India exports to almost exclusively serve the U.S. market, when previously the devices were more widely distributed to countries including the Netherlands, the Czech Republic and Britain. During March-May, Foxconn exported iPhones worth $3.2 billion from India, with an average 97% shipped to the United States, compared to a 2024 average of 50.3%, according to commercially available customs data seen by . India iPhone shipments by Foxconn to the United States in May 2025 were worth nearly $1 billion, the second-highest ever after the record $1.3 billion worth of devices shipped in March, the data showe...

Rachel Reeves played down the prospects of ramping up defence spending today despite mounting pressure from Donald Trump. The Chancellor stressed that Labour had only committed to hitting 2.5 per cent of GDP in the current Parliament. And she suggested the 'ambition' after 2029 remains to reach a level of 3 per cent - even though Nato states are being asked to agree a target of 3.5 per cent at a summit later this month. The blueprint being pushed by Mr Trump and the military alliance's secretary general Mark Rutte would see countries pledge to hit the higher spending by the early 2030s. A further 1.5 per cent of GDP would be required for 'defence-related expenditure'. A timetable could be set for gradually increasing their allocations. However, there are questions about how the UK would fund such an huge increase - roughly equivalent to an extra £30billion annually. Britain allocated 2.33 per cent of GDP to defence last year, ...

LISBON () -U.S. private equity fund Lone Star has decided to sell its 75% stake in Novo Banco to French banking group BPCE in a deal that would value Portugal's fourth-largest lender at around 7 billion euros ($8.14 billion), Portuguese economic news outlet ECO said on Thursday. ECO said the "decision has been taken" and should be communicated to the market later on Thursday. With this decision, Lone Star is abandoning the option of Novo Banco making an initial public offering that was advocated by Novo Banco management. The Portuguese state and a banking resolution fund, which is financed by Portugal's banks, control the remaining 25% stake and enjoy a tag-along clause that allows them to sell on the same terms as Lone Star. In Portugal, BPCE has only a small consumer credit operation and its subsidiary Natixis has a technology centre focused on IT services and support for the group's banking activities. ($1 = 0.8600 euros) (Reporting by Serg...

Hong Kong is looking to 'secure a leading role in global payment systems', one analyst says, as law comes ahead of a similar US stablecoin bill With the passage of one of the world's most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts. Being a "first mover" in stablecoin legislation "reflects the determination" of the city's government to "unlock value that they see in this sector, given the number of hurdles from past incidents", said Melvin Deng, CEO of digital asset trading firm QCP Capital. Hong Kong is one of the first jurisdictions to introduce detailed regulations governing the issuance of stablecoins - cryptocurrencies backed by a reference asset, typically fiat currency like the US dollar - coming ahead of the US Genius Act currently making its way through the Senate. The Hong Kong ordina...

Labour today promised to find almost £14billion a year in Whitehall savings as part of Chancellor Rachel Reeves ' spending plans. The Office for Value for Money, established by Ms Reeves last October, has worked with each Government department to find where they can save cash. As part of the Chancellor's spending review, it was revealed these plans had found 'total annual efficiency gains of almost £14billion by 2028-29'. These will be through 'a combination of improved outcomes and reduced cost', with most departments vowing to deliver efficiencies of at least 3 per cent within four years and some delivering over 8 per cent. The Treasury set out how civil service job cuts, greater use of Artificial Intelligence ( AI ), and flogging off Government property lay at the heart of the savings plans. It comes after Prime Minister Sir Keir Starmer used a speech in March to outline his bid to tackle the 'flabby state' with a...

Haruhiko Ozasa, chief representative of the Japan External Trade Organization in Hanoi, spoke to VIR’s Phuong Thu about the significance of fostering stronger links between Vietnamese and Japanese supporting industries amid shifting global supply chains. Haruhiko Ozasa, chief representative of the Japan External Trade Organization in Hanoi What is the significance of connecting Vietnamese and Japanese supporting and manufacturing industries through trade promotion? For Japanese companies, expanding transactions with Vietnamese companies offers benefits such as cost reduction through local procurement and diversification of supply chains. For Vietnamese companies, doing business with Japanese firms provides opportunities to participate in global supply chains. In terms of the Vietnamese economy, promoting supporting industries is expected to strengthen the industrial base and supply chains. Amid increasing global economic uncertainty, the importance of enh...

McALLEN, Texas ( Border Report ) — The MXLAN International Economic Summit kicked off this weekend’s festival celebrating Latino culture on the South Texas-Mexico border. Border Report Live: The cost of securing the border This year’s economic summit focused on artificial intelligence, or AI, and emerging technology and what the Texas and border workforce will need to keep up with this ever changing field. Tariffs, however, are what was on most peoples’ minds. “It’s the tariffs themselves that are going to affect the supply chain, and will affect manufacturing costs, consumer pricing, etc. But I think equally important is the uncertainty of the future of tariffs,” Carlos Margo, dean of South Texas College’s Center for Advanced Manufacturing and Apprenticeships, told Border Report. “And if there’s uncertainty whether the tariffs are going to stick, or not, or if so to what degree, then those uncertainties are going to really cause somewhat a dimension of ha...

On the same day Nintendo revealed the Switch 2 , President Donald Trump also unveiled his list of tariffs on countries the U.S. trades with. This led Nintendo to delay preorders in the U.S., although it did make them available a short time later. As the June 5 launch of the Switch 2 approaches, Nintendo held an earnings call on May 8. The company anticipated selling 15 million Switch 2 consoles in its first year, but Nintendo President Shuntaro Furukawa did raise some concerns that the price of the console may change due to tariffs. "If the assumptions regarding tariffs change significantly, we would like to consider what price adjustments we should make and implement them after considering various aspects," according to a translated report on Yahoo Finance Japan . Nintendo says it has concerns that the increase in tariffs leading to a price increase will cause a drop in demand for the Switch 2 , as consumers will have to deal with risin...

Learn More: Federal Reserve surprises with an unexpected announcement about interest rates PODCAST: Trump's 'Freedom Day' Tariffs, along with an unexpected push for the death penalty in the Luigi Mangioni case. Tune into Welcome to MAGAland here. The gaming community was jolted today following the announcement of a highly awaited console experiencing a postponement. The redesigned Nintendo Switch from 2017, which was an enormous sales success, has received an update known as the Nintendo Switch 2. planned to begin pre-orders on April 9 . But the company confirmed to inspiriences it requires time to evaluate President Donald Trump's tariff policy. According to sources from Nintendo, pre-orders for the Nintendo Switch 2 in the United States will not commence on April 9, 2025. This delay aims to evaluate the possible effects of tariffs and changing market dynamics. Nintendo plans to provide an updated timeline at a future date....

ABUJA The Nigerian Economic Summit Group (NESG), working alongside the Federal Ministry of Arts, Culture, Tourism, and the Creative Economy (FMACETC) as well as UNESCO, has organized a National Focus Group Forum aimed at exploring Nigeria’s culture sector. This forum seeks to harness the economic potential of Nigeria’s cultural and creative industries. The gathering assembled policymakers, business executives, innovators, and cultural promoters to discuss approaches for tapping into the significant economic opportunities within Nigeria’s cultural and creative sectors. The talks centered around policy changes, digital progress, sustainable funding, and collaborative efforts among stakeholders. The main aim was to establish Nigeria’s cultural industry as a key catalyst for economic expansion, employment generation, and international market strength. During his introductory comments, NESG Board member Mr. Udemy Ufot highlighted that the event offers a crucial platform for...

New Delhi [India], April 5 (ANI): India's information technology sector is expected to report subdued growth for the fourth quarter of FY25 (January-March period), according to a report by Systematix Institutional Research. This deceleration was credited to seasonal factors and a decrease in non-essential expenditures related to digital overhaul initiatives by international customers as stated in the report. It said, "We expect IT Services firms within our coverage reported muted growth in 4QFY25 due to seasonal declines and reduced spending on discretionary digital transformations." It was also stated that Indian IT Companies that derive a significant portion of their income from the U.S. market still encounter a difficult operating landscape due to the country’s economic uncertainties. Just as the sector was hoping for a recovery in discretionary tech spending, the report stated that the situation has become more...

US agricultural exports, fuels and manufactured goods are set to take a hit from China's blanket retaliation against President Donald Trump's sharp tariffs, with both sets of measures due to take effect next week. After Trump announced a 34-percent new tariff on imports of Chinese goods -- taking the added rate imposed this year to 54 percent -- Beijing said it would slap an equivalent across-the-board tariff on US goods, among other countermeasures. China used to target specific industries in a "mirror response" to US export restrictions, said Emily Benson of consulting firm Minerva Technology Policy Advisors. But its broader plan unveiled Friday marks a "pretty significant warning shot" to the Trump administration to hold off further measures, she told AFP. What is the state of US-China trade, and what US sectors stand to be impacted? US exports The United States exported $144.6 billion in goods to China in 2024, much less than the $43...

To reduce the trade deficit that prompted President Donald Trump to impose a 36% tariff on Thai exports, Thailand might want to purchase additional military equipment and arms from the U.S., according to the Federation of Thai Industries (FTI). The suggestion was put forward on Friday at a gathering of delegates from 47 sectors under the FTI, discussing strategies to address Washington's upcoming tariff policy set to be implemented on April 9. "If the government opts to purchase U.S.-made military technology, it could considerably diminish the nation's trade surplus since such items tend to be costly," stated Kriengkrai Thiennukul, chair of FTI, after the meeting. The technologies are essential for the Thai military as well. Trump announced the stiff tariff on Thai exports mainly because the country's trade surplus with the US was the 11th largest globally in 2024, at more than $35 billion, or 1.2 trillion baht. In addition to bu...