TNT
CandyKisses:
VN ready to become a semiconductor manufacturer
The global semiconductor and chip race is heating up and Việt Nam should take this opportunity to raise its’s position on the global semiconductor manufacturing map as some leading corporations have invested in semiconductor manufacturing in the country, according to local economists.
HÀ NỘI — The global chip race is heating up, and Việt Nam should be able to raise its position on the global semiconductor manufacturing map as some leading corporations are investing in chip production in the country, local economists said.
Prof. Nguyễn Mại, President of the Vietnam Association of Foreign Invested Enterprises (VAFIE), said the adverse impact of the C---D-19 pandemic and prolonged trade conflicts have caused a disruption of semiconductor supplies. Global companies involved in using semiconductors to make smartphones, self-driving vehicles, artificial intelligence (AI) technology or data centers have been forced to cut their productivity.
Mại emphasied that countries are in a race to produce semiconductors and chips. In particular, the US Department of Commerce (DOC) in September released its strategy for implementing its US$50 billion CHIPS for America programme. And China has doubled its spending and enacted policies to support semiconductor manufacturing companies.
Việt Nam has also become a centre of the semiconductor industry as Samsung announced its plan to produce semiconductors from July next year with an additional investment of US$920 million. The country is also home to Intel’s largest assembly and testing factory with an investment of $1.5 billion.
Đỗ Nhất Hoàng, head of the Ministry of Planning and Investment’s Foreign Investment Agency, said the Synopsys company from the US also announced that it would train electrical engineers in Việt Nam and support HCM City Hi-Tech Park (SHTP) to establish a chip design center through a software sponsorship programme.
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Hoàng added that in the first 10 months this year, FDI disbursement reached $17.45 billion, an increase of 15.2 per cent over the same period in 2021. This was the highest number in the past five years. Of this figure, the manufacturing sector accounted for 65 per cent and involved the major industries of hi-tech electronics and chip production. This has shown that Việt Nam has gradually begun to form an ecosystem of semiconductor and chip production.
Over the years, Việt Nam’s investment climate has been highly appreciated by foreign investors due to its stable political system and rapid growing economy. Incentives through corporate income taxes have also made an important contribution to creating an attractive investment climate.
Hong Sun, Vice President of the Korean Chamber of Commerce in Việt Nam (KoCham), said that apart from having a stable business environment and many incentives, chip manufactures want to have abundant and stable power sources.
Hong emphasied that chip or semiconductor manufacturing were both high-value products. If a sudden power failure occurred, production would have to restart from the beginning, which would take from a week to a few months and cost billions of dollars.
Mại said that “Việt Nam should not rest on its gains and we need to make an assessment of the bottlenecks in luring FDI, such as transport infrastructure, and information networks.”
He noted that if Việt Nam can participate in the semiconductor industry, it will generate a big boost of added value for the country. — VNS
Source: Dinar Recaps
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Tishwash:
Report: The Central Bank of Iraq stops dealings with Lebanese banks
About one week after the decision of the Central Bank of Iraq to stop all transactions between Lebanese banks and Iraqi financial institutions and banks, following the discovery of large suspicions of c--------n.
Sources in Baghdad revealed the latest results of the investigation conducted by the Iraqi Integrity Commission in Baghdad, and the amount of money actually withdrawn.
Banking c--------n operations are summarized in the transfer of accounts by Iraqi and Lebanese companies and personalities in troubled Lebanese banks to the Iraqi government branches of Al-Rafidain and Al-Rashid Banks in Beirut, in order to withdraw funds through them, in a fraudulent operation involving Iraqi bank employees and officials.
An Iraqi official in the Integrity Commission said, in a press statement, followed by “The Independent”, that “the current investigations confirm the existence of great and serious suspicions of c--------n that include the process of transferring balances without balance from the troubled Lebanese banks to the Iraqi ones, meaning transferring the financial dispute between the depositor and the troubled Lebanese bank to between the banks.” Iraqi government and troubled Lebanese banks.
The official, who declined to be named, added: “This c--------n process involves Iraqi political figures and people from armed factions who pressured these transactions to pass, and we fear that the amount that will be discovered in the end is large.”
And he explained by saying: “There are Iraqi and Lebanese companies and investors who have money in troubled banks and are unable to pay it to them. They made an i-----l arrangement, in collusion with officials, to transfer their balances in those banks to the government branches of the Rafidain and Rashid banks in Beirut, and then receive the amounts from them, meaning The bank is supposed to receive later the amounts from the Lebanese banks with the commission, but the banks do not have any ability to pay, which means transferring the financial dispute with bankrupt banks. Regarding the transferred sums, he said: “Until now, we are talking about tens of millions of dollars that have been implemented since Lebanon’s financial crisis several years ago.”
And the Central Bank of Iraq decided, last Wednesday, to stop joint transactions between Lebanese and Iraqi banks, which include transferring the balances of depositors in banks to their Iraqi counterparts, one day after a statement by the Iraqi Integrity Commission announcing the opening of an investigation into the process of transferring balances deposited in Lebanese banks to the Iraqi Rafidain Bank. Beirut branch.
According to an official statement issued by the Integrity Commission in Baghdad, in which it said, “The Supreme Commission has begun an investigation into the process of transferring balances deposited in Lebanese banks to the Rafidain Bank in Beirut.
The statement added that, “Suspicions of c--------n are being investigated in the process of transferring balances deposited in lagging Lebanese banks to the Rafidain Bank – Beirut branch, as well as the bank account of the Rashid Bank in the Central Bank of Lebanon.”
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And it confirmed the issuance of judicial summons orders against the Director General of Al-Rafidain Bank and his assistant, who were relieved of their positions shortly before the new c--------n suspicions were discovered, as part of extensive changes supervised by the new Prime Minister, Muhammad Shia Al-Sudani.
The statement stressed that “the public will be provided with developments in the progress of the investigation in the case and decisions issued by the judiciary against the a-----d, as permitted by law and without prejudice to the confidentiality of the investigation.”
A member of the Integrity Committee in the Iraqi parliament, Hadi al-Salami, said, “A c--------n deal took place in Lebanon, and we are awaiting investigation procedures by the Integrity Commission.”
Al-Salami added that “influential parties and personalities are involved in the case with officials of the Rafidain Bank, with the aim of transferring funds unrealistically and on paper only.” .
A member of the “State of Law” coalition, Alia Nassif, a-----d the Director General of the Ministry of Foreign Affairs of being involved in the case. And she said in a statement, “A transfer of funds from lagging banks in Lebanon to the Rafidain and Al-Rasheed banks involves a director general at the Ministry of Foreign Affairs,” explaining that two financial transfers were recently monitored for this official: the first at (one million and 250 thousand dollars) and the second at (two million and 500 thousand Dollars) and there are investigations at the C--------n Cases Court in Karkh in Baghdad.
For his part, Mustafa Sanad, a member of the Finance Committee in Parliament, said, in a written clarification to him, that the c--------n process related to transferring the balances of troubled Lebanese banks “was not completed.”
He added, “It was supposed to withdraw from 10 to 18 billion dollars legitimately with legal accounting intelligence, but the operations were stopped after the first two million dollars, thanks to the clean network spread everywhere,” without giving further details.
On the other hand, economic and financial expert Abdul Rahman Al-Mashhadani said, “The Integrity Commission’s move on the issue of suspicious transfers confirms that there is a huge c--------n process. The commission only moves through information confirming the existence of large and serious financial suspicions of c--------n. link
The State Administration Alliance decides to activate Article 140 of the Iraqi constitution
Today, Monday evening, the State Administration Alliance held a meeting at the home of the late former Iraqi President Jalal Talabani.
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The coalition stated in a statement, of which Mawazine News received a copy, that “it was decided in the meeting that was hosted by Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan, to activate Article 140 of the Iraqi constitution, provided that a committee is formed for the same purpose to carry out its duties within a period of 10 days.”
He added, “The meeting discussed security developments, completing the new government’s work program, and other important issues related to the general situation in the country.”
The statement indicated, “The meeting was attended by Prime Minister Muhammad Shia al-Sudani, Parliament Speaker Muhammad al-Halbousi, the leader of the State of Law, Nuri al-Maliki, and the leader of the Jamahiriya Party, Ahmed Abdullah al-Jubouri. link
Money in exchange for release… The “theft of the century” settlement in Iraq
Bail does not mean that the legal procedures against the a-----d will be dropped, but the case will be referred to the competent court according to the accusation article.”
The new government in Iraq decided to settle the ” Stolen of the Century ” file through the principle of conditional release in return for the recovery of the looted funds , in a step that is considered the first in the history of the modern Iraqi state since the 1920s.
The move was announced by the Iraqi Prime Minister, Muhammad Shia’ al-Sudani, in a press conference, about the recovery of part of the funds for tax secretariats that were stolen with a legal trick by businessman Nour al-Khafaji and a number of his partners, which amounted to about three trillion and 700 billion Iraqi dinars ($2.5 billion) through instruments issued. From the government Rafidain Bank and the Tax Department.
According to Al-Sudani, the Iraqi government has recovered 182 billion Iraqi dinars (123 million dollars) out of a trillion and 681 billion Iraqi dinars(1.1 billion dollars) seized by businessman Nour Al-Khafaji, indicating that this amount was delivered by Al-Khafaji according to a settlement agreement that will include the release by the judiciary on bail to deliver the full amount within two weeks, aiming to allow him to sell the real estate
he bought with this amount and return it to the state.
Al-Sudani added, “There are bodies within the Tax Authority and other supervisory and responsible parties that facilitated the process of theft of trusts, and we will announce it after completing the investigations ,” stressing that no party involved in this process will be excluded. Al-Sudani presented the sum of the sukuk and funds disbursed by a group of the companies involved, indicating that the disbursed funds amounted to three trillion and 754 billion and 642 million and 664 thousand dinars ($2.5 billion).
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money for release
Al-Sudani called on the defendants against whom arrest warrants were issued to turn themselves in and hand over the stolen sums, indicating that the government will work with the judiciary to help them in accordance with the law, indicating, “We will follow up on any a-----d and recover the stolen sums. The criterion of our relations with all countries is the extent of response in recovering the people’s stolen money.”
government parties
For his part, Haider Hanoun, head of the Federal Integrity Commission, said in statements to the official Iraqi channel, “There are important parties in the previous government that facilitated the task of removing these funds outside Iraq, and they will be announced soon.”
Economic affairs specialist Safwan Qusai believes that the government’s action aims to provide an opportunity to recover the stolen funds to the state treasury, stressing the need to take guarantees in order to return the funds before the release process.
Qusai said, “The process of returning the money in full is the primary goal of the government, but it is not possible to bypass the Penal Code, which sets penalties for those who try to steal public money,” noting that “there may be penalties, whether imprisonment or imprisonment, for those who do such a thing.” act, and the Penal Code cannot be bypassed in such a situation.”
Encouraging steps
He pointed out that the judicial authorities, when fully recovering the funds, will take into account the imposition of lenient provisions, because the main goal is to restore confidence in the Iraqi economic and financial system. He warned that the international community would deal with Iraq in a different way if the government could not impose its authority on the billions that leaked across the borders, stressing the need for an effort to return the entire amount.
He continued, “The government’s failure to fully recover the money in exchange for the thief’s release will reflect negatively on the international community’s view of its behavior,” calling on the government to tighten its grip on the stolen money and ensure that the thief will return and not mitigate the penalty except in accordance with a legal procedure.
Legal specialist Ali Al-Tamimi revealed that release on bail is possible according to the Code of Criminal Procedure, pointing out that bail is conditional on the delivery of amounts.
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Al-Tamimi said, “The release is within the authority of the investigating judge, according to Articles 109 and 110 of the Code of Criminal Procedure, because the legal article under which the a-----d is arrested accepts bail, especially since the bail is conditional on the delivery of the sums in question.”
He added that bail does not mean that the legal procedures against the a-----d will be forfeited, but that the case will be referred to the competent court according to the accusation article, pointing out that this procedure applies with the criminal policy that aims to achieve the public interest according to the rule that if two interests conflict, the public interest is preferred over the private one link
hmmm I wonder why this is on the CBi website
The Russian Central Bank introduces a new banknote (CBi Site)
Source: Dinar Recaps
Carlosisan:
According to previous intel, the RV is suppose to happen before Nov “22 is out, well – we have 2 days left, today and tomorrow. Let’s see what happens. This scenario always happens around this time of year and then we jump into the next year. It is my prayer that this doesn’t happen again. As always, be strong, be viligant and lets move forward!
Flash:
Seems like after 18 years no great expectations from Iraq, hopefully they will surprise us this year. Seems as though a lot of things are happening so I am still believing it is when.
RVAlready:
I think it will have to happen. It is pretty obvious that the world needs the RV/GCR right now I think that is why the UN played hardball with Iraq.
Yada:
Agreed rvalready. Fact is the past 18 years, they didn’t have a stable government. Now they do and now, the UN is holding their hands to cross the line. We endured the many obstacles and now the way is clear.
Tishwash:
Baghdad and Erbil agreement on the implementation of Article 140 of the Constitution
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The Kurdish forces in the Kurdistan region announced that they had reached an agreement with the federal authorities to form a joint supreme committee within ten days, whose task is to implement Article 140 of the Iraqi constitution. link
Source: Dinar Recaps
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