Brain drain hampers greek economic recovery

Share to Twitter Share to Linkedin Bosideng, China’s top home-grown down jacket brand, said on Wednesday it overcame Covid and other global headwinds and reported gains in sales and profit for the 12 months ending March 31. Sales increased by 20% to 16.2 billion yuan, or $2.4 billion, helping to lift profit by 21% to approximately 2.06 billion yuan. Bosideng was upbeat about the outlook this year. “Currently, global consumption demand for apparel is recovering steadily,” it said. “Although we confronted numerous challenges from the epidemic and other various aspects in 2021, we still believe that from a long-term perspective, China’s economy will recover in an orderly manner in the post-epidemic era.” Bosideng is led by its colorful 70-year-old CEO Gao Dekang, who has a fortune worth $4.8 billion on the Forbes Real-Time Billionaires List. Itochu of Japan is an investor; rivals include Canada Goose. Bosideng’s Hong Kong-traded shares have fallen 16% in … [Read more...] about Canada Goose Rival Bosideng Reports Profit Gain, Sees Apparel Recovery

MALAYSIA is trying to reduce its dependency on low-skilled foreign workers as it moves up the economic value chain. To reduce the number of foreign low-skilled workers, both the businesses and industries across all the economic sectors are asked to hire more locals and embrace automation with the aim of becoming a high-income nation. And interestingly they have been doing so, where local employees have become the first choice. Still, businesses and industries across all the economic sectors need low-skilled foreigners to fill up the many jobs available where the locals are reluctant to take on. Most of the jobs taken up by the foreign workers are low entry levels considered to be dirty, dangerous, and difficult or 3D – reasons as to why the locals shy away. Also, the locals are seeking a more balanced lifestyle, better paying jobs like work in the gig economy or going abroad for the same low entry level jobs. Today, the labour shortage issues have worsened, now estimated … [Read more...] about Worker shortage is the biggest challenge

Share to Twitter Share to Linkedin After the victims have been recovered. After power has been restored and roads cleared. After The New York Times and “Good Morning America” move on to other stories. After visits from the governor and First Lady, towns recovering from a natural disaster face a grueling, monotonous, years-long effort of cleanup, recovery and rebuilding outside the spotlight. There are, after all, no shortage of immediate crises to draw the country’s attention. Bowling Green, Kentucky is past its “attention” phase following a pair of tornados which hit the area on December 11, 2021, resulting in 16 deaths. One other Warren County resident would die shortly after from a heart attack suffered during initial cleanup efforts. The historic storms resulted in 77 deaths statewide and 90 across multiple states during a terrifying outbreak which led national news broadcasts for days. “We have transitioned out of that emergency response … [Read more...] about How Visitors To Bowling Green, Kentucky Can Help Community Still Recovering From Deadly Tornados

Mustapa says the government is always serious about the rising cost of doing business due to bureaucracy and the impact of the shortage of foreign workers on the economy as often raised by industry. (Photo by Mohd Suhaimi Mohamed Yusuf/The Edge) - A + A TUMPAT (June 25): The government will pay attention to four proposals submitted in writing by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) before tabling Budget 2023 in October. Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed said the four proposals are related to the issue of hiring foreign workers, inflation control, Internet access problems and issues related to food security. “The government welcomes participation and commitment from the private sector and the business community as demonstrated by the ACCCIM to jointly find solutions to the challenges faced in doing business, especially in the context of the country’s post-Covid-19 economic … [Read more...] about Govt to pay attention to four ACCCIM proposals for Budget 2023, says Mustapa

(Representative image: Reuters) Dear Reader, A whiff of change wafted through the markets this week. The focus shifted from worrying over inflation to concerns about growth. The advance Purchasing Managers Indices (PMIs) for the current month for the US and the Eurozone showed slowing growth, but while they indicated inflation was cooling in the US, it continued to rise relentlessly in the Eurozone. They also reflected stalling demand and falling business confidence. The New York Fed’s economic model predicted an 80 percent chance of a hard landing for the US. UK consumer confidence hit a record low. In China, housing starts and property transactions reached extreme lows. The worries over an imminent recession in the US, the UK and the Eurozone sent commodity prices sharply lower. Copper prices have moved down dramatically. My colleague Ravi Ananthanarayanan wrote about the dark clouds hovering over steel . Crude oil prices too fell. That dissipated some of the … [Read more...] about MC Pro Weekender | A new narrative

KUALA LUMPUR: Australia’s Foreign Affairs Minister Penny Wong ( pic ) will visit Malaysia on Tuesday to deepen ties and build on existing partnerships. The Sabah-born minister is scheduled to meet her Malaysian counterpart Datuk Seri Saifuddin Abdullah as well as two Senior Ministers – Defence Minister Datuk Seri Hishammuddin Hussein and International Trade and Industry Minister Datuk Seri Azmin Ali – during her visit. ALSO READ: Aussie minister keen on her homecoming “I will reaffirm our commitment as Comprehensive Strategic Partners and discuss economic recovery, climate action, education ties and health security,” she said in a statement posted on the official website of Australia’s Foreign Minister, Bernama reported. The 54-year-old said she would also travel to Sabah, adding that it was a region having long-standing ties with Australia. “It is the region where I am from. Having spent my early years in Kota Kinabalu, I look forward to the great honour of returning … [Read more...] about Mission to deepen Aussie-M’sian ties

Share to Twitter Share to Linkedin It's going to be a busy summer travel season. And different. The summer travel advice from experts is different, too. Domestic travel volume will rise 16% over last year, with almost 75% of Americans planning to travel domestically for summer vacations, according to Allianz Partners' Top 10 Summer Destinations review . And travel to Europe will soar 600% over last year. ​​ "The floodgates have opened," says Valentina O'Kane, owner of Incognito Global Travel , an affiliate of Embark Beyond. "People are rushing to get out there again. The popular tourist destinations are overbooked, with little if any availability. They are going to be overcrowded and overpriced this summer." I just interviewed 200 top travel experts about what lies ahead for travel. Here's part one of my series , which outlines what to expect in the next three months. There are two important takeaways. Covid is far from over, so you may … [Read more...] about Expert Summer Travel Advice For Your Next Vacation

BANGKOK, June 25 (Reuters): Thailand's inflation will remain elevated this year but should fall back into the central bank's target range of 1-3% in the second quarter of next year, a bank official had announced, South-East Asia's second-largest economy is expected to return to its pre-pandemic level late this year or early next year, Sakkapop Panyanukul, a senior director at the Bank of Thailand, told a trade seminar. The BOT predicts headline inflation of 6.2% this year and 2.5% next year. Thailand's economy is expected to grow by 3% this year and 3.7% next year, driven by exports, increased domestic demand and a recovery in tourism, the state planning agency had said earlier. Exports, a key driver of growth, still had momentum despite the impact of Russia's invasion of Ukraine on the global economy, Danucha Pichayanan, head of the National Economic and Social Development Council, told a business seminar. "The Russia-Ukraine issue is a risk but it's also an opportunity, … [Read more...] about Thai inflation seen back to target in Q2 2023, says central bank; economy expected to grow by 3% in 2022

Share to Twitter Share to Linkedin The Oklahoma mogul spoke to Forbes about how he's protecting his investments ahead of the “near certainty” of a recession. With the S&P 500 entering a bear market last week , many of America’s billionaires are convinced that a recession is in the offing . George Kaiser , one of the wealthiest people in Oklahoma with an estimated $9.5 billion fortune, is one of them. Kaiser, 79, told Forbes that a “recession seems a near certainty” and that he expects the economy to tip into a downturn in the first two quarters of 2023, with a prolonged dip in the stock market. The timing of the market bottoming out—the point at which the stock market hits a low and begins rising again—is still far off, according to Kaiser. “Historic analogies would suggest a 35% total drop from the peak, but that history is largely irrelevant since so many of the factors are unique,” he said. Kaiser, who has appeared on the Forbes … [Read more...] about Oil And Banking Billionaire George Kaiser Says Market Bottom Is Still Far Off

Share to Twitter Share to Linkedin The Art Basel and UBS Global Art Market Report for 2022 reports that the global art market saw pandemic recovery with robust sales of art and antiques by dealers and auction houses, reaching an estimated US$65.1 billion, up 29% from 2020 (US$50.1 billion), and exceeding pre-pandemic 2019 values. Public auction sales of fine and decorative arts and antiques rose by 47% compared to 2020, reaching an estimated US$26.3 billion. Private sales in the auction sector also saw a steady uptick of 32%, reaching US$4.1 billion, of which Sotheby’s and Christie’s auction houses make up US$3.0 billion alone. As your stock portfolio has been hammered by the recent Bear Market and your artwork has appreciated, you may want to sell your Artwork and reinvest into investments, but with the growth of the value of your artwork comes the tax cost of all of that appreciation. The tax rate on capital gains on artwork is 28%, plus the 3.8% Net … [Read more...] about Funding A Charitable Remainder Trust With Artwork