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To tackle unemployment among graduates and youth anger, invest in innovation and education

The expansion of university education in the last few decades has enabled millions of school leavers to continue their education in university. This is to be applauded. However, it has given rise to a new problem. Millions upon graduation cannot find the jobs they are trained for. This is part of their frustration and anger with the government and society.There are two sides to the problem. From the supply side, with the mushrooming of universities, especially profit-oriented ones, their… Source link

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China looks to local asset management companies to help tackle bad loan problem, but Moody’s flags risks

The rise of local distressed asset managers in China over the last three years represents a change in the way regional non-performing loans are being handled from previous periods of credit distress, but they also raise a new risk, according to rating agency Moody’s.More than 50 provincial level distressed asset management companies (AMCs) are in operation, many of which were formed only recently, the rating agency said.Previously, non-performing loans (NPLs) were mainly addressed by China’s… Source link

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Global 

Central banks must turn to global financial crisis tool box to tackle the next recession, says Fed’s Rosengren

The United States’ central bank may have to dust off some of the tools that helped steer the economy through the global financial crisis a decade ago should another recession hit, Boston Federal Reserve Bank president Eric Rosengren said on Tuesday.With interest rates already low leaving limited room for cuts, the US Federal Reserve would likely have to turn to quantitative easing and other balance sheet tools to stimulate its economy, in the case of a downturn.“I dare say it is important for… Source link

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Singapore 

Tough laws needed to tackle hate speech as online platforms are not doing enough: Shanmugam, Singapore News

SINGAPORE – The Christchurch terror attacks are a reminder that tough laws are needed to curb the spread of hate speech which is not being tackled adequately by big online tech companies and platforms, said Home Affairs and Law Minister K. Shanmugam on Tuesday (Mar 19). He also disclosed that he will be tabling a motion in Parliament to discuss hate speech and race and religious relations sometime in early April. “We will have a debate in Parliament on structuring race relations and our approach to it… (We will) have…

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Singapore 

Carousell launching new review system and technology to tackle fraudsters, Singapore News

SINGAPORE – To counter the rise in e-commerce scams, Carousell plans to use new technology to identify and block fraudsters from creating new accounts. The online selling platform will also launch a feedback system allowing buyers to review sellers, so customers can have a better idea of vendors’ behaviour, the company said on Tuesday (Feb 19). E-commerce scams spiked last year to 2,125 cases last year, up by 11 per cent on 2017. About 70 per cent of them took place on the Carousell platform, police said in their annual…

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Vietnam 

Trà Vinh to tackle delayed projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A corner of Trà Vinh Province. — VNA/VNS Photo Viet Nam News HÀ NỘI — The Mekong Delta province of Trà Vinh is resolved to revoke licences of delayed projects, while rolling out measures to attract more investment in the locality. The province will work to accelerate administration reform and improve the provincial competitiveness index, thus creating an attractive business climate. Provincial authorities also plan to increase transparency and provide sufficient information about Trà Vinh’s policies and investment…

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Singapore 

Parliament: Proposed changes to Penal Code allow men to be considered rape victims, tackle revenge porn, Singapore News

Men can be considered victims of rape and peeping Toms, under a Bill introduced in Parliament on Monday (Feb 11) that will amend the Penal Code. The proposed changes under the Criminal Law Reform Bill seek to expand the definitions of rape and sexual assault to make them more gender-neutral and accommodate more scenarios. There are also provisions to introduce new offences that specifically tackle the act of voyeurism. It has been proposed that the definition of rape be expanded to include non-consensual penetration of the anus or the mouth…

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Hong Kong’s chief executive has bravely begun to tackle the city’s ‘untouchable’ issues – starting with tunnel pricing

Chief Executive Carrie Lam Cheng Yuet-ngor must take credit for beginning to tackle in her Policy Address some hitherto “untouchable” issues that have sat for decades in her predecessors’ “too difficult baskets”. Most obvious is of course housing, but surely maternity leave, and employer offsets for MPF pension payments must count as serious efforts to break seemingly perpetual consultation cycles that have persistently kicked the can down the road on all potentially tough decisions. Who knows, she might even soon summon the courage to tackle compulsory health insurance, village housing…

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Hong Kong must tackle abuse of colonial-era policy on homes in its villages to sort out housing shortage

It took Dennis Bray, the then colonial Hong Kong government’s district commissioner for the New Territories, six frenzied weeks in 1972 to draft the small-house policy that has for the past five decades shaped the lives of all of Hong Kong’s 700,000 traditional villagers. Cynics say he was buying off powerful traditional village lobbies as the government sought to avoid confrontation while it acquired land to build Hong Kong’s new towns. Sympathisers say he was justifiably trying to stabilise our many clan villages and the traditional Hong Kong village life…

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