Latest news with #Dong
Time Business News
2 days ago
- Business
- Time Business News
A Backpacker's Guide to Spending Dong Without Stress
If you've ever handled a Vietnamese banknote, you know the feeling – a wallet full of bills in the hundreds of thousands. The Vietnamese Dong might look overwhelming at first, but once you understand it, it becomes surprisingly easy to manage – and even kind of fun. So, if you're exploring the busy streets of Hanoi, riding scooters through Da Nang, or sipping coffee in the alleys of Ho Chi Minh City, spending Dong wisely can help you stretch your trip without feeling like you're constantly budgeting. This guide gives you everything you need to know – from daily costs to tips on how to avoid common currency mistakes – so you can focus on the adventure, not the math. Keep in mind that these things change constantly, so always check the prices before your trip. The Vietnamese Dong (VND) is one of the least valued currencies in the world – and that's not a bad thing. At the time of writing, 1 USD is equal to around 25,000 VND, which means even a basic meal might cost 30,000 or 50,000 Dong. You'll see bills ranging from 1,000 VND all the way up to 500,000 VND, and yes – all the zeros can blur together at first. But you'll adjust quickly. Locals often drop the 'thousand' part in conversation – for example, saying '50' when they mean 50,000 VND. Don't let the big numbers fool you. What looks expensive might actually be pocket change in your home currency. If you're arriving at a major airport like Noi Bai (Hanoi) or Tan Son Nhat (Ho Chi Minh City), you'll find currency exchange counters and ATMs right after you exit customs. Exchange rates at airports are usually decent, but you'll often get better rates at gold shops or independent money changers in the city. Keep in mind: ATMs are widely available and usually safe. Stick to banks like Vietcombank, Techcombank, or BIDV. are widely available and usually safe. Stick to banks like Vietcombank, Techcombank, or BIDV. Cash exchange gives better rates if you bring crisp USD or EUR bills. gives better rates if you bring crisp USD or EUR bills. Avoid exchanging Dong before your trip – you'll get a worse rate outside Vietnam. Always ask for smaller bills when possible. Many local vendors and cafés don't carry much change for 500,000 VND notes. Vietnam is famously budget-friendly. You can easily get by on $20–25 USD per day (about 500,000–600,000 VND) without sacrificing meals, sightseeing, or comfort. Here's what an average day of spending might look like: Street food breakfast (banh mi or pho): 20,000–40,000 VND 20,000–40,000 VND Vietnamese iced coffee (cà phê sữa đá): 15,000–25,000 VND 15,000–25,000 VND Local lunch (com tam, bun cha, or noodles): 30,000–50,000 VND 30,000–50,000 VND Entrance to museums or attractions: 20,000–50,000 VND 20,000–50,000 VND Snack (spring rolls, sugarcane juice): 10,000–20,000 VND 10,000–20,000 VND Dinner at a casual eatery: 40,000–70,000 VND 40,000–70,000 VND Bed in a hostel dorm: 150,000–250,000 VND Even with transportation and bottled water added in, you'll still stay under 600,000 VND in most cities. The most common issue travelers run into? Confusing the bills. The 20,000 VND and 500,000 VND notes are similar shades of blue and can easily get mixed up. Here's how to avoid headaches: Take a few minutes to memorize the colors and values of each bill. Keep high-value notes in a separate part of your wallet. Always count your change – especially in markets or taxi rides. Don't hand over a big note without confirming the price first. Pro tip: Never rely solely on your card. Many small shops, food stalls, and even some hotels are cash-only. If you're a foodie on a budget, Vietnam is a dream. Some of the best meals come from plastic stools on the sidewalk. For the price of a coffee back home, you can get: Bánh mì (Vietnamese sandwich): ~25,000 VND ~25,000 VND Bún bò Huế (spicy beef noodle soup): ~40,000–50,000 VND ~40,000–50,000 VND Gỏi cuốn (fresh spring rolls): ~10,000 VND each ~10,000 VND each Cà phê sữa đá (iced coffee with condensed milk): ~20,000 VND These aren't snacks – they're real, hearty meals that keep you full for hours. And because the portions are lighter, you can try more things throughout the day without overdoing it. Bargaining is a normal part of everyday life in Vietnam – especially in markets, tourist areas, and smaller towns. Locals do it all the time, and vendors expect a bit of friendly negotiation. If you're new to it, don't feel shy or rude. As long as you stay polite and respectful, it's all part of the experience. You should negotiate: At markets when buying clothes, souvenirs, or local crafts With moto-taxi drivers, unless you're using an app like Grab For tours or day trips, especially in beach towns or rural areas You shouldn't bargain: In restaurants, food stalls, or cafés – prices are usually fixed and already low At convenience stores, supermarkets, or pharmacies When prices are clearly posted or printed – especially in more modern shops When you do bargain, start with a smile. Offer a fair counterprice, and keep things light. Vendors often give you a 'tourist price' first, expecting a little back-and-forth. If they won't budge, it's totally fine to thank them and walk away – many times, they'll call you back with a better offer. It might feel awkward the first few times, but once you try it, you'll see it's not confrontational – it's almost a game. And when done right, it can even be fun. Getting around Vietnam is cheap and straightforward. Here are the most common ways and their prices: Bus fare in cities: 5,000–7,000 VND 5,000–7,000 VND GrabBike or GrabCar (ride-hailing app): 10,000–50,000 VND for short trips 10,000–50,000 VND for short trips Intercity bus: 100,000–300,000 VND depending on distance 100,000–300,000 VND depending on distance Scooter rental (per day): 100,000–150,000 VND Download Grab or Be apps – they're reliable, priced fairly, and safer than negotiating directly with taxi drivers. Once you get used to the Vietnamese Dong, managing your money gets easier – but a few daily habits can make a big difference, especially on a tight travel budget: Carry small notes like 10,000, 20,000, and 50,000 VND. Many street vendors won't have change for a 500,000 note, especially in the morning. like 10,000, 20,000, and 50,000 VND. Many street vendors won't have change for a 500,000 note, especially in the morning. Separate your big bills . Keep 200,000 and 500,000 notes tucked away for hotels or transport, and use smaller ones for food and quick buys. . Keep 200,000 and 500,000 notes tucked away for hotels or transport, and use smaller ones for food and quick buys. Break large bills early in the day at a minimart or café. It's less stressful than trying to do it in a rush at a food stall. in the day at a minimart or café. It's less stressful than trying to do it in a rush at a food stall. Track your spending with a quick phone note. Even a rough list helps you stay on budget and avoid unnecessary ATM fees. with a quick phone note. Even a rough list helps you stay on budget and avoid unnecessary ATM fees. Withdraw wisely . ATMs are common in cities but may charge 30,000–50,000 VND per transaction. Take out enough for a few days and stick with major banks like Vietcombank or BIDV. . ATMs are common in cities but may charge 30,000–50,000 VND per transaction. Take out enough for a few days and stick with major banks like Vietcombank or BIDV. Keep a small USD stash just in case. $20–$50 can help in an emergency if your card fails or ATMs are down. With just a little prep, you'll avoid the most common money hassles – and spend more time enjoying Vietnam, not counting bills in the street. Traveling with the Vietnamese Dong might feel awkward at first, but it gets easier fast. Once you get familiar with the bills, the prices, and the rhythm of the local economy, you'll start to realize just how far your budget can go. You don't need a big wallet to have big experiences in Vietnam. The real value comes from the food you try, the people you meet, and the everyday discoveries that make the country feel special. And luckily, most of those things cost far less than you'd expect. TIME BUSINESS NEWS
Malaysian Reserve
5 days ago
- Politics
- Malaysian Reserve
National Press Club: Update on Appeal In Case of Journalist Dong Yuyu
WASHINGTON, July 18, 2025 /PRNewswire/ — Following is an update on the case of Chinese Journalist Dong Yuyu, provided by his family. 'After being sentenced to seven years in prison for espionage at the trial level in November, Dong has appealed his wrongful verdict to the Beijing High Court. The Beijing High Court heard his appeal on March 31, with a deadline for a decision in early May. In early May, however, the Court asked the procuratorate for additional evidence in Dong's case. Chinese law gives the procuratorate one month to complete this step. However, it only took one week for the procuratorate to respond to the court with no additional evidence. This move allowed the Beijing High Court four additional months to render a decision on appeal. Now the deadline is September 13, though the Beijing High Court can find ways to extend it. All these procedures clearly show that the case against Dong is completely meritless. If it had merit, then the Beijing High Court would have had no trouble rendering a decision upholding his conviction, just like the vast majority of appeals cases in China. It is also clear that the case is being decided not according to the law, but rather based on politics. This is why we urge all stakeholders involved to keep advocating for Dong. We urge press organizations throughout the world to keep demanding Dong's immediate release. We urge the Japanese government to directly raise the case with the Chinese government as their diplomats were directly and wrongly accused of espionage in this case as well. In vigorously defending Japanese integrity, they help ensure the future safety of their own diplomats. Finally, we urge the United States government to keep pressing China for Dong's immediate release and to include his case in the human rights portfolio accompanying the much anticipated bilateral later this year. Contact: Bill McCarren, 202-662-7534 or wmccarren@ for the Press Freedom Center at the National Press Club
Gulf Today
09-07-2025
- Business
- Gulf Today
China's consumer inflation up 0.1 per cent YoY in June
China's consumer price index (CPI), a main gauge of inflation, was up 0.1 per cent year-on-year (YoY) in June, data from the National Bureau of Statistics (NBS) showed on Wednesday. The CPI in urban regions rose 0.1 per cent year-on-year last month, while that in the rural regions was down 0.2 per cent, according to the data. On a monthly basis, the CPI dipped 0.1 per cent in June, China Daily quoted the data as showing. In the first half of 2025, the country's CPI posted a 0.1-percent decline compared with the same period last year, according to the bureau. The official data also indicated that the producer price index (PPI), which measures costs for goods at the factory gate, went down 3.6 per cent year-on-year in June. On a month-on-month basis, the PPI dropped 0.4 per cent in June, according to the data. In the first half of 2025, the PPI dropped by 2.8 per cent year-on-year, the data showed. China to host 200 digital economy, AI training programmes for Global South China's consumer prices fell at a slower pace in March, while the annual decline in factory-gate prices deepened, official data showed on Thursday. The country's Consumer Price Index (CPI), the main gauge of inflation, fell by 0.1 per cent year-on-year in March after a 0.7 per cent drop in February, according to the National Bureau of Statistics (NBS). China Daily reported that within the CPI, food prices experienced a year-on-year decline of 1.4 per cent, compared to a decrease of 3.3 per cent in February. Month-on-month, the CPI dipped 0.4 per cent in March, following a 0.2 per cent drop in February. The growth in core CPI, which excludes volatile food and energy prices and is deemed a better gauge of the supply-demand relationship in the economy, rose by 0.5 per cent year-on-year in March after a 0.1 per cent dip in February. Dong Lijuan, an NBS statistician, attributed the month-on-month CPI decline to the abundant food supply due to warmer weather, lower prices of travel-related services in the off-season and declining international oil prices. Dong also highlighted the emergence of some positive signs, such as the narrowing decline in year-on-year CPI and the growth in core CPI, saying policies aimed at boosting consumer demand started to take effect and the impact of the timing difference of the Spring Festival holiday gradually faded. China's Producer Price Index (PPI), which gauges factory-gate prices, dropped by 2.5 per cent year-on-year in March, widening from a 2.2 per cent fall in February, the NBS said. On a month-on-month basis, the PPI dropped 0.4 per cent in March after a 0.1 per cent decrease in February, according to the NBS. Dong said the factory-gate prices declined due to lower prices for domestic petroleum products and certain export-oriented industries, seasonal weakening demand for energy products such as coal, and the declining prices in several raw materials. Meanwhile China will launch the 'Digital South' initiative under the framework of the Global Development Initiative (GDI), offering 200 training programmes in artificial intelligence (AI) and the digital economy to Global South countries over the next five years, Premier Li Qiang announced during the 17th BRICS Summit. Speaking during plenary sessions held on Sunday and Monday in Rio de Janeiro, Premier Li highlighted key topics including strengthening multilateralism, AI, environmental and climate change, and global health, Xinhua News Agency said. Leaders of BRICS member states, partner countries, guest nations, and representatives of international organisations attended the meetings. The current international economic and trade order, as well as the multilateral trading system, are under severe strain, and the global economic recovery remains challenging, Li said. He noted that the Greater BRICS cooperation should uphold its founding purpose, meet the needs of the times, safeguard and practice multilateralism, promote the establishment of a fair and open international economic and trade order, and unite the strength of the Global South to make greater contributions to global stability and development. He emphasised the need to open up new blue oceans for economic growth by expanding cooperation in emerging areas such as the digital and green economies, leveraging AI to empower a wide range of industries and benefit countless households, and helping Global South countries enhance their capabilities. As part of this commitment, China will host 200 training programmes in the digital economy and AI for Global South countries over the next five years. Premier Li also invited global participation in the upcoming World Artificial Intelligence Conference, scheduled to take place in China this July. Ursula von der Leyen, President of the European Commission, has announced that the European Union aims to rebalance its economic relationship with China by demanding fair and reciprocal access for European companies to the Chinese market. Agencies
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Business Standard
09-07-2025
- Business
- Business Standard
China's factory-gate deflation hits 2-year low amid global trade war
The producer price index fell 3.6 per cent in June from a year earlier, worse than a 3.3 per cent decline in May and the largest drop since July 2023 Reuters China's producer deflation deepened to its worst level in almost two years in June as the economy grappled with uncertainty over a global trade war and subdued demand at home, piling pressure on policymakers to roll out more support measures.' While consumer prices rose for the first time in five months, the uptick was marginal as a prolonged housing market downturn in the world's second-biggest economy added to headwinds from US President Donald Trump's tariffs on trading partners. The producer price index fell 3.6 per cent in June from a year earlier, worse than a 3.3 per cent decline in May and the largest drop since July 2023. That compared with forecast of a 3.2 per cent slide in a Reuters poll. "The uncertainty in the global trade environment has affected the export expectations of enterprises," Dong said. China's factory activity shrank for a third month in a row in June, albeit at a slower pace, with employment and new export orders still languishing. "We expect demand to weaken later this year, as exports slow and the boost from fiscal support diminishes," said Zichun Huang, China economist at Capital Economics. Market reaction to the data was cautious as Trump ramps up his trade war. China's Shanghai Composite Index was up 0.3 per cent by the midday break, while Hong Kong’s benchmark Hang Seng traded down 0.7 per cent. As subdued domestic demand remains a drag on China's economy, companies have resorted to price discounts to boost sales, prompting the authorities to urge an end to the auto industry's bruising price wars. Highlighting the tepid consumer market, Chinese e-commerce giants Alibaba and have pledged heavy subsidies over recent months to expand aggressively into fast deliveries. A diverging trend in consumer prices likely indicates "the effects of the consumer goods trade-in scheme," Huang said, but added that "with this boost likely to fade soon, we expect underlying inflation to decline again later this year." The consumer price index edged up 0.1 per cent last month from a year earlier, reversing a 0.1 per cent drop in May and above a Reuters poll prediction of an unchanged outcome. The consumer price uptick was "mainly due to a rebound in industrial consumer goods prices," NBS's Dong said. On a monthly basis, the CPI was down 0.1 per cent versus a 0.2 per cent decline in May, and in line with economist forecasts of a 0.1 per cent drop. Core inflation, excluding volatile food and fuel prices, spiked to 0.7 per cent in June from a year earlier, the highest in 14 months. Lynn Song, ING's chief economist for China, said the recent relative strength of the yuan and persistently soft inflation will give the People’s Bank of China room to cut rates further later in the year. "With activity data softening slightly in recent months, but not signalling a sense of immediate urgency, we currently expect the next rate cut to come in the fourth quarter." (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
The Star
09-07-2025
- Business
- The Star
China's factory-gate deflation worst in 2 years amid weak demand, trade risks
BEIJING: China's producer deflation deepened to its worst level in almost two years in June as the economy grapples with uncertainty over a global trade war and subdued demand at home, piling pressure on policymakers to roll out more support measures. While consumer prices rose for the first time in five months, the upturn was marginal as a prolonged housing market downturn in the world's second-biggest economy added to headwinds from U.S. President Donald Trump's tariffs on trading partners. The producer price index fell 3.6% in June from a year earlier, worse than a 3.3% decline in May and the largest fall since July 2023. That compared with forecast of a 3.2% slide in a Reuters poll. Some exports-oriented industries are under pressure in price terms, said Dong Lijuan, NBS statistician. "The uncertainty of global trade environment has affected the export expectations of enterprises," Dong said. As subdued domestic demand remains a drag on China's economy, companies have resorted to price discounts to boost sales, prompting the authorities to urge an end to the auto industry's bruising price wars. Highlighting the tepid consumer market, Chinese e-commerce giants Alibaba and have pledged heavy subsidies over recent months to expand aggressively into fast deliveries. The consumer price index edged up 0.1% last month from a year earlier, reversing a 0.1% drop in May and above a Reuters poll prediction of an unchanged outcome. The consumer price uptick was "mainly due to a rebound in industrial consumer goods prices," Dong said. On a monthly basis, the CPI was down 0.1% versus a 0.2% decline in May, and in line with economist forecasts of a 0.1% drop. Core inflation, excluding volatile food and fuel prices, spiked to 0.7% in June from a year earlier, the highest in 14 months. - Reuters
