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SINGAPORE: The digital economy is expected to contribute 22.6 per cent of Malaysia’s gross domestic product (GDP) and create over 500,000 jobs by 2025, said Science, Technology and Innovation Minister Datuk Seri Dr Adham Baba. Dr Adham said Malaysia has placed priorities on expanding the adoption of digital consumer tools (e-commerce and digital payments); attracting, training, and retaining digital talent; fostering digital entrepreneurial ventures; providing fast fibre optics and mobile broadband Internet access; as well as coordinating innovation between universities, businesses and digital authorities. "The level of digital evolution helped cushion against the pandemic’s economic impact. For example, more digitally-evolved economies tend to derive a larger share of their GDP from high-tech sectors, where the workforce can shift to remote working more readily. "In addition, they tend to be better at delivering public services online due to superior infrastructure, experience … [Read more...] about Malaysia’s digital economy to contribute 22.6% to GDP, create half a million jobs by 2025

Share to Twitter Share to Linkedin In a strange way, the Covid-19 pandemic has created a new breed of entrepreneur: one that has learned how to make a living digitally, who has a laptop and is equipped to work anywhere, and who leads a mobile lifestyle. Such an individual is sometimes called a digital nomad - someone who uses technology to work remotely while being away from home. Many countries offer such individuals and their dependants digital nomad visas. Here are some details about these visas that may answer some of the questions you may have. What's A Digital Nomad Visa? Digital nomad visas are authorizations to work in countries while the applicants are staying there. Like tourist visas, they are easy to obtain but in addition, they allow for longer stays. A digital nomad visa allows its holder to work during their stay in a country provided they do not enter the local labor market. They do not compete for jobs with local residents and work … [Read more...] about Why The Digital Nomad Visa May Be Exactly What You Need

- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run

Share to Twitter Share to Linkedin Upon return from a family vacation three summers ago, economist Ike Brannon remarked at a subsequent lunch about an individual at the resort who was almost literally covered in tattoos. This was an expensive resort, and Brannon wondered how he and his family were sharing the same pool. To be clear, Brannon’s wonderment about the inked up vacationer wasn’t of the nose-upturned variety; rather he wanted to know what profession afforded so much individuality and disposable income. It turns out his poolmate was a chef. To younger readers, the mention of chef likely elicits a “so what?” response. For those born in the 1970s or earlier, the response is different. We remember . We remember when chef was a “dead end” job for, yes, people with tattoos. They were referred to as cooks then. It’s a long or short way of saying that the economic thinker in Brannon was celebrating a happy truth about prosperity: it elevates all manner of … [Read more...] about Book Review: Dana Brown’s Entertaining and Insightful Memoir of Vanity Fair, ‘Dilettante.’

- A + A NEW YORK/BENGALURU (May 19): The S&P 500 and the Dow extended losses on Thursday as Cisco Systems slumped after it gave a dismal outlook, while investors fretted over the impact of surging inflation on economic growth and corporate earnings. Shares of the networking gear maker slumped 12.7% as it lowered 2022 revenue growth outlook, taking a hit from Russia exit, as well as component shortage due to China lockdowns. Kohl's Corp slipped 1.1% after the department store chain cut its full-year profit forecast, the latest US retailer to flag a hit from four-decades high inflation. The S&P consumer staples index fell 1.9% to hit a seven-month low and was the biggest decliner among the 11 major sectors, as retail firms face the brunt of rising prices hurting the purchasing power of US consumers. "The consumer component is now starting to weaken, which bolsters the perspective that we are indeed heading into a recession," said Randy Frederick, managing … [Read more...] about S&P 500, Dow slip as Cisco drags, Nasdaq steady after selloff

This is an updated version of a story that previously ran on April 28th. When it comes to fraying nerves, this spring is really outperforming. Stocks are now in bear market territory. Interest rates -- and Covid cases -- are climbing. Inflation remains high. Geopolitical unrest continues. And all of it combined is sparking recession fears . No one's finances are immune. But there are ways to guard against losses and make the most of what you have. Lock in a new job now With ultra-low unemployment and plenty of openings , it's a job seeker's market right now. But if there's a recession, that could change quickly. So make hay while you can. Read More "If you are not working, or are looking for a better position, now would be a good time to take advantage of the very strong job market and lock in a position," said Florida-based certified financial planner Mari Adam. To help in your search, here are some resume dos and … [Read more...] about Plunging stocks, recession fears. Here’s how to protect your money

Share to Twitter Share to Linkedin The outgoing Coast Guard Commandant, Admiral Karl L. Schultz , is in the home stretch, cheerfully running from one meeting to the next. Today, just two weeks from retirement, the Admiral is busy preparing for a smooth handoff to the incoming Commandant, the newly confirmed Admiral Linda Fagan, as they both bear down on the “long game” of building a resilient Coast Guard cadre, capable of handling America’s increasingly complex maritime environment. “Nothing has gotten simpler,” quipped Schultz, as he moved piles of documents about his memento-strewn office, reflecting on his 39 years of Coast Guard service. In highlighting how the Coast Guard’s operational environment has changed, the service-tested Commandant cautioned that “the pace of technological change in the maritime has never been faster,” and warned that the “scope and scale” of maritime activity has shifted in ways that may stress the Coast Guard in the future. … [Read more...] about USCG Commandant Karl Schultz Finishes Strong, Releasing A New People-Focused Strategy

As a business coach for more than 25 years, I have heard a lot of business advice from leaders and other business coaches in the industry. And much of it, while it may seem well intentioned, is actually pretty bad advice. And there are a few pieces of it that I have heard over and over again that make me cringe. So today I want to share one of the worst tips I have heard and tell you what you should be doing instead. "Do what you love, and the money will follow" This piece of advice is often given to a new entrepreneur looking to start their own business. They don't really know what they want to do yet, and have dabbled in a few things, but haven't really found anything that has gained traction. Their business acquaintances see them searching and share this tidbit as a way to help their friend find their path. And it is often coupled with a story of a friend of a friend, who found a love for some obscure hobby and turned that hobby into a multimillion-dollar business … [Read more...] about The Worst Advice I Have Ever Heard as a Business Coach

- A + A PENDANG (May 19): The Human Resource Ministry will take drastic measures to resolve the worker shortage in the tourism and hospitality sector in Langkawi by initiating interview programmes at a higher frequency throughout the country, including Sabah and Sarawak. Its Deputy Minister, Datuk Awang Hashim said the interviews were held through his special committee together with industry players since early this month. "We are now aggressively conducting interviews in Sabah and Sarawak to fill the vacancies in the tourism sector so that we do not have to rely on foreign workers and to ensure that agencies under the ministry like the Labour Department and the Social Security Organisation (SOCSO) need to hold such interviews more frequently and quickly to hire more young people from Sabah and Sarawak. “With the implementation of the RM1,500 minimum monthly wage, we are convinced that employers do not have trouble paying such salaries or even more after tourism in … [Read more...] about HR Ministry to take measures to address worker shortage in Langkawi’s tourism sector

The government has informed the Supreme Court that it will review the ‘criteria’ for determining economically weaker sections (EWS) for reservation in educational institutions and jobs. The statement followed a set of petitions challenging the income limit criterion of EWS at Rs 8 lakh per annum. The case came in the context of admission to medical colleges through the NEET exam. The government has introduced the EWS quota and OBC reservation in the All India Quota (AIQ) in medical admission through NEET. Moneycontrol explains the genesis of the EWS Quota and the ongoing debate. What’s the case? The apex court is hearing a batch of petitions challenging the government and a medical counselling committee notice issued in July, providing 10 percent quota for the EWS category in NEET admissions. According to the legislation ratified by Parliament in January 2019, a general category student or candidate whose family income is less than Rs 800,000 per year is eligible per … [Read more...] about Explainer: The EWS quota law and controversy over NEET exam