Vietnam 

Policies needed to adapt to rising labour cost – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Director General of the Asia-Pacific Economic Centre Võ Đại Lược. Photo doanhnhansaigon.vn Director General of the Asia-Pacific Economic Centre Võ Đại Lược talks to Doanh nhân Sài Gòn (Sài Gòn Businessman) online newspaper about the need for Việt Nam to have policies to adapt to increasing labour costs The price of Vietnamese labour is increasing. What do you think this means for the future? It is an inevitable trend that the cost of Vietnamese labour will increase as the inflation rate keeps at 4 per cent and the annual…

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Home 

UK builders envision skills shortage when foreign labour takes a hike after Brexit

Monika Slowikowska is incredulous when people tell her foreigners will still want to come to the UK after the country leaves the European Union.As a Pole who owns a London construction company, Slowikowska is less sanguine. She fears for an industry facing a Brexit immigration clampdown, including high salary requirements for visas and restrictions on low-skilled labour.“We believe that we’re still a paradise destination,” said Slowikowska, who has lived in the UK for 20 years and employs… Source link

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China 

US trade war, household debt and labour market raise questions over China’s latest bid to spur spending

China’s latest bit to spur consumer spending to counter the effects of falling exports and to stabilise growth has been questioned by analysts due to high and rising household debt combined with an uncertain labour market and income outlook due to the trade war with the United States.The new interministerial body will be responsible for pushing forward plans to upgrade consumption and to study new ways to boost spending, according to the State Council. It will be comprised of 24 ministries,… Source link

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Singapore 

Japan may take South Korea wartime labour dispute to International Court of Justice: Report, Singapore News

TOKYO – Japan is considering taking a dispute with South Kore a over its compensation for wartime forced labourers to the International Court of Justice as the deadline for seeking third-country arbitration passes on Thursday (July 18), public broadcaster NHK reported. The question of compensation for South Koreans for labour during Japan’s 1910-45 occupation of the Korean peninsula has soured the US allies’ relations, which took a turn for the worse this month when Japan restricted exports of high-tech material to South Korea. South Korea’s Supreme Court last year ordered…

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Singapore 

Fashion obsessives’ Singapore label is a labour of love, Lifestyle, Singapore News

In a fashion landscape where less is very rarely more, one Singapore label is quietly going against the flow with its take on slow fashion – with a Japanese twist. Clothing label Biro was founded by brothers Kenghow and Kage Chong, who have an almost obsessive love for rare, premium textiles handmade in Japan. Launched in 2013, the brand features a tightly curated collection of Japan-made utilitarian apparel, including denim jeans, shirts, tees and jackets. The pieces may seem all too basic at first glance, but a closer study of…

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Vietnam 

Labour shortage hinders development of offshore fishing in central region – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Fishermen at the Thọ Quang fish port in the central city of Đà Nẵng. — VNA/VNS Photo Quốc Dũng QUẢNG NGÃI — A shortage of labour has affected offshore fishing in many central coastal provinces, with many ship owners forced to hire inexperienced seamen. Thọ Quang fishing port located in Đà Nẵng’s Sơn Trà District is popular among ship owners in the central provinces because it covers more than 60ha and has convenient trading links. In recent months, however, the wharves have often been deserted as vessels…

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Home 

Expat bankers struggle to find new jobs in Hong Kong as cost-cutting and demand for Mandarin speakers change labour market

For years, Hong Kong was a hot spot with plum jobs for overseas bankers as global firms hired aggressively. But many recently laid-off bankers in the city are finding that cost-cutting and a demand for Mandarin speakers have diminished the opportunities for expats in Asia’s financial hub.After Deutsche Bank announced plans for wide-ranging cuts this week, many employees worldwide are facing the challenge of job-hunting in a shrinking market. For foreign staff losing positions in Hong Kong, it… Source link

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Home 

Migrants mean more than birth rates in meeting Hong Kong’s labour shortage, which is why we must act now

So Hong Kong’s 2027 manpower projections predict significant labour shortages over the decade ahead. The South China Morning Post’s editorial on Thursday this week rightly concludes that “Importation of labour cannot be ruled out if jobs shortfall persists”. My own response? I don’t know whether to celebrate or weep.Over three years ago, quoting the Hong Kong Institute of Human Resources Management, I reported that “90 per cent of surveyed companies find it quite difficult or extremely… Source link

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China 

China’s consumer spending surges over extended Labour Day holiday

Beijing’s decision to extend this year’s Labour Day holiday from 24 hours to 96 achieved the desired effect of increasing consumer spending, according to official figures.Between Wednesday and Saturday, revenue from tourism rose 16.1 per cent year on year to 117.7 billion yuan (US$17.5 billion), while the number of “tourists” rose 13.7 per cent to 195 million, the Ministry of Culture and Tourism said on its website.Also, cinema box office revenue over the period soared to more than 1.5 billion… Source link

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Global 

China’s central regions lure manufacturing from the affluent coast, with low labour and land costs

Foreign investment is rising rapidly in central China, as many manufacturing firms move production away from the coastal regions in search of lower costs inland.Rapidly rising costs – everything from wages to land prices to taxes – have made manufacturing increasingly unprofitable in the coastal regions, especially in the export hubs of the Pearl River and Yangtze River Deltas.Tariffs on US$250 billion of Chinese exports due to the US-China trade war have not helped, only serving to drive up… Source link

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