FILE PHOTO: Thousands of job seekers and former OFWs troop to the Cuneta Astrodome in Pasay City for the DOLE- DTI organized summer job fair. (March 26, 2018 / INQUIRER/ MARIANNE BERMUDEZ) Geneva, Switzerland — The total global number of unemployed youths should fall to 73 million in 2022, down by two million from the year before, the United Nations said Thursday. However, the figure is still six million higher than the pre-pandemic level of 2019, with the recovery in youth unemployment lagging behind the bounceback in other age groups, the UN’s International Labor Organization said. Between 2019 and 2020, those aged 15 to 24 experienced a much higher percentage loss in employment than the rest of the labor market, the ILO said in a report. Their 300-page “Global Employment Trends for Youth 2022” update on key youth labor market indicators and trends said the pandemic exacerbated the market challenges generally facing young people. Many dropped out of the labor force, or … [Read more...] about Global youth unemployment set to slip to 73 million in 2022: UN
Pm youth laptop scheme
- A + A KUALA LUMPUR (Aug 11): The High Court on Thursday (Aug 11) allowed Hongkong and Shanghai Banking Corp Ltd (HSBC), a foreign holder of Serba Dinamik Holdings Bhd's sukuk, to intervene in the oil and gas services outfit's scheme of arrangement. HSBC filed the application to intervene in the creditor repayment scheme on Aug 8 through Messrs Raja Darryl & Loh. According to court documents, HSBC, who holds Islamic debt papers issued by Serba Dinamik's subsidiaries — namely SD International Sukuk Ltd and SD International Sukuk II Ltd — that are set to mature this year and in 2025, had not been invited to participate in the scheme of arrangement. It is learnt that the Islamic debt papers issued were for a total of US$500 million (RM2.22 billion). Serba Dinamik has two US dollar-denominated sukuk programmes — a US$300 million one that matured on May 9 with outstanding issuances of US$222.22 million, and another US$200 million sukuk maturing on May 12, 2025 … [Read more...] about Is Serba Dinamik’s creditor repayment scheme in jeopardy?
- A + A KUALA LUMPUR (Aug 11): The High Court on Thursday (Aug 11) allowed Hongkong and Shanghai Banking Corp Ltd (HSBC), a foreign holder of Serba Dinamik Holdings Bhd's sukuk, to intervene in the oil and gas services outfit's scheme of arrangement. HSBC filed the application to intervene in the creditor repayment scheme on Aug 8 through Messrs Raja Darryl & Loh. According to court documents, HSBC, who holds Islamic debt papers issued by Serba Dinamik's subsidiaries — namely SD International Sukuk Ltd and SD International Sukuk II Ltd — that are set to mature this year and in 2025, had not been invited to participate in the scheme of arrangement. It is learnt that the Islamic debt papers issued were for a total of US$500 million (RM2.22 billion). Serba Dinamik has two US dollar-denominated sukuk programmes — a US$300 million one that matured on May 9 with outstanding issuances of US$222.22 million, and another US$200 million sukuk maturing on May 12, 2025 … [Read more...] about Court allows HSBC to intervene in Serba Dinamik’s debt restructuring scheme
Grade 3 teacher Edmund John Gambon checks the performance of a government-issued laptop at Apolonio Samson Elementary School in Quezon City on Tuesday, August 9, 2022. The Department of Education said it would test if indeed the laptops need replacement. —GRIG C. MONTEGRANDE The joint-venture group which supplied 39,583 units of allegedly overpriced but outdated laptops to the Department of Education (DepEd) on Thursday insisted that the goods “meet all technical specifications imposed by the government, are competitively priced and perform according to their intended use.” Sunwest Construction and Development Corp. (SCDC) and LDLA Marketing & Trading Inc. (LDLA) said in a statement that the Procurement Service-Department of Budget and Management or PS-DBM solicited bids for the supply and delivery of laptop computers with very specific technical requirements. “As qualified bidders, we made an offer and won the comprehensive and competitive bidding fair and square,” the two … [Read more...] about DepEd laptop suppliers dispute state auditors’ findings
The Philippines will have its second TikTok Awards next week. Soon, the platform will spotlight the country’s most influential content creators. TikTok has been a driving force for young people around the world. Contrary to popular belief, the app offers more than silly dances. Instead, it shows how our youth shapes the digital landscape and their future. First, we will discuss how the awards selection works. After that, we will go through this year’s nominees. Stay tuned because you might find your favorite on the list! TikTok Awards 2022 Highlights Filipino Creativity Photo Credit: www.adobomagazine.com The TikTok Awards will be streaming on August 20, 2022, at 7:00 PM. Of course, you could watch the event on the TikTok app, but you may also view it on the official Facebook and YouTube accounts. The awards ceremony will have the title “Panalo Ka Dito, Tara Na!” it will showcase entertaining content from various content creators that users and non-users … [Read more...] about The Nominees Of The Philippines’ TikTok Awards 2022
This article first appeared in The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. Koong: Many SMEs are in a bind - A + A A growing number of small and medium enterprises (SMEs) are stepping forward to ask for assistance to cope with their loan repayments, according to Koong Lin Loong, treasurer-general and chairman of the SMEs committee at the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM). Koong tells The Edge that the financial impact on SMEs after more than two years of the Covid-19 pandemic, compounded by current hurdles such as rising raw material prices, high operating costs and labour shortages, have led to cash flow issues and forced many businesses to their knees. “Many SMEs are in a bind as they may come to a point where they can no longer service their loans, yet their cash-strapped plight renders their businesses ineligible for new borrowings,” he says, adding that other SME groups lament similar … [Read more...] about Cover Story: ‘More SMEs struggling to cope with existing loans, and getting new loans’
- A + A SHANGHAI (Aug 11): China's blue-chip stock index closed higher on Thursday (Aug 11), posting its biggest jump in more than three months, as softer-than-expected US inflation data prompted bets of less aggressive rate hikes from the US Federal Reserve (Fed). Big tech companies listed in Hong Kong snapped a three-day losing streak, helping the city's main stock benchmark rise the most in nearly one month. The blue-chip CSI 300 Index ended 2% higher, while the Shanghai Composite Index gained 1.6%. The Hang Seng Index rose 2.4%, while the China Enterprises Index gained 2.7%. Foreign investors bought more than 13.2 billion yuan (US$1.96 billion or RM8.71 billion) of Chinese stocks via the Stock Connect scheme, the highest in nearly two months. Slowing US inflation may have opened the door for the Fed to temper the pace of interest rate hikes, easing the pressure of capital outflows from emerging markets, including China. Securities firms jumped more than … [Read more...] about China stocks see best day in three months as US rate-hike bets ease
Ghaziabad Additional District Magistrate (Finance and Revenue) Vivek Srivastava said that a tentative hike of 10 to 15 percent has been proposed. (Representative image) India’s home loan market, currently valued at about Rs 24 lakh crore, is expected to double in the next five years, mirroring the overall trend in the country’s aspirations to become a $5 trillion economy by then, State Bank of India said in a report. The share of housing loans in bank credit increased to 14.4 percent in June from 13.1 percent in March 2020, with the maximum number of disbursements in tier-3 and tier-4 cities, according to the SBI report. Analysts said that the fear of further rate hikes and loosing out the opportunity to buy properties will drive the customers to invest in homes. SBI, PNB Housing Finance and Bank of Baroda are among those that recorded significant growth in their home loan portfolios, according to their latest quarterly results. Close Analysts said once … [Read more...] about India’s home loan market set to double in next 5 years: SBI
Representative image (Source: Reuters) The growth trajectory of electric vehicles (EVs) is critically hinged on the evolution of battery technology. Batteries need to be lighter, cheaper, quicker to charge, and safer which will instil confidence in consumers to switch to EVs. Yet, despite the strides made, batteries still constitute around 40-50 percent of the vehicle's final cost — a critical barrier to the uptake of EVs. Adding to the challenge, almost all EVs in India run on imported batteries. The number of imported lithium-ion batteries quadrupled between 2016 and 2019 – from 175 million in 2016-17 to 713 million in 2018-19. In 2018-19, India imported batteries worth $1.23 billion. To reduce this dependence, and incentivise local businesses to invest in scaling up the manufacturing of advanced chemistry cells, the Government of India (GOI) announced a production-linked incentive (PLI) scheme with an outlay of Rs 18,100 crore. The Government of India received 10 … [Read more...] about Electric Vehicles | Save the battery, save the future
The Doosan Bears celebrate after beating the Kia Tigers 5-3 at Gwangju-Kia Champions Field in Gwangju on Friday. [YONHAP] The Doosan Bears are often touted as the KBO’s quintessential fall baseball team, coming alive as the season nears its end and the mercury starts to drop with a late rush up the table and a race for a postseason spot. This year that late-season surge seemed unlikely. The Bears, plagued by years of free agent losses, are left this season with a handful of aging veterans alongside a youthful lineup of up-and-comers that are largely untested playing 144-game seasons. When the season started back in April, it seemed likely that this would be the year that Doosan, a perennial postseason contender for more than a decade, would take a tumble. The club has lost so many top players to free agency in the last five years — most recently Park Kun-woo last winter — that it seemed highly unlikely that manager Kim Tae-hyoung had anybody left in the wings waiting to be … [Read more...] about Are the fall ball Bears edging toward another ‘Miracle Doosan’ moment?