MANILA, Philippines — A total of 4.2 million Filipinos were left jobless in February 2021 due to the effects of the COVID-19 pandemic in the economy, the Philippine Statistics Authority (PSA) reported Tuesday. This is a 0.2 million increase compared to the PSA’s January 2021 record of four million Filipinos left jobless —making the Philippines’ unemployment rate at a 16-year high—national statistician Claire Dennis Mapa said in a press conference. “Ang unemployment rate ay naitala sa 8.8 percent o 88 sa bawat 1,000 indibidwal na nasa labor force ang walang trabaho o negosyo nitong 2021,” Mapa said as he shared results of the February 201 Labor Force Survey (LFS). (The unemployment rate was recorded at an 8.8 percent, or 88 out of 1,000 individuals in the labor force that do not have jobs or businesses in 2021.) The 8.8 percent unemployment rate was an increase of January 2021’ record of 8.7 percent. Despite the rise in joblessness among Filipinos, Mapa added that the ... » Learn More about PSA records 4.2M unemployed Filipinos in February 2021
Organisers of the Tokyo 2020 Olympics rolled out stricter coronavirus countermeasures on Wednesday (April 28), including a plan to test athletes daily, as they try to reassure a Japanese public made increasingly sceptical by the resurgent pandemic. With just three months to go until the postponed Games, Japan has been encumbered by a slow-moving vaccination drive that has raised concerns about the viability of the Games. Some public ire has focused on Prime Minister Yoshihide Suga, who has repeatedly pledged that event will go ahead. Overseas spectators have already been ruled out and a decision on whether to allow domestic spectators will be taken in June, a few weeks before the Games begin on July 23. Tokyo 2020 President Seiko Hashimoto said that while organisers wanted as many spectators as possible, they were ready to take every step needed to ensure safety. “We are prepared to hold the Games without spectators,” she told a news conference following a meeting on the second ... » Learn More about As Japanese scepticism grows, organisers say they could hold Olympics without spectators
KUALA LUMPUR: Passenger traffic fell in January 2021 compared with both pre-Covid levels (January 2019) and the immediate month prior (December 2020), according to the International Air Transport Association (IATA). Total demand in January 2021 (measured in revenue passenger kilometres or RPKs) was down 72% compared with January 2019, which was worse than the 69.7% year-over-year decline recorded in December 2020. “The year 2021 is starting off worse than 2020 ended and that is saying a lot. Even as vaccination programmes gather pace, new Covid variants are leading governments to increase travel restrictions. “The uncertainty around how long these restrictions will last also has an impact on future travel. “Forward bookings in February this year for the Northern Hemisphere summer travel season were 78% below levels in February 2019, ” Alexandre de Juniac, IATA director-general and chief executive officer, said. IATA said comparisons between 2021 and 2020 monthly results were ... » Learn More about IATA: Passenger traffic falls in January, cargo recovers
NEW DELHI: Gold price’s slump to near a nine-month low is drawing jewellery shoppers in Asia to hunt for bargains. After a year of demand being in the doldrums, retailers are buying more of the precious metal to cater to people like Seema B, a 35-year-old housewife who ventured to Mumbai’s Zaveri Bazaar to get new bangles after months of putting it off. “The prices have come down a bit and the general worries about the virus have also eased, ” she said. Seema joins others in India and Malaysia who are stocking up for weddings and investment. Retail investors in South Korea are amassing bullion while Chinese demand drove sales higher over the Lunar New Year. The demand for physical gold may stem the slide in prices that have been pummelled by rising bond yields and outflows from bullion-backed exchange-traded funds. When financial investors aren’t buying, “the physical market becomes increasingly important in setting the floor for prices, ” said Suki Cooper, a precious metals ... » Learn More about Asian shoppers snap up gold bangles amid price slump
Zhang Yiming, the 38-year-old founder of TikTok owner ByteDance, has topped a list of Chinese business leaders younger than 40 for the third consecutive year. Zhang took the top spot in the 2021 list of the 40 most successful business leaders in China under 40 years old, followed by Su Hua, chief executive of rival video app Kuaishou, and Cheng Wei, the founder of ride-hailing giant Didi. The list is published annually by the Chinese version of Fortune magazine. Zhang built his company to a value of almost US$400 billion in the private market in the nine years since its founding in 2012. ByteDance now hosts a range of popular apps alongside viral video app TikTok and its Chinese version Douyin, as well as news aggregator Jinri Toutiao. The company said last week that it had no plans for now to go public , pouring cold water on speculation about an initial public offering. The Beijing-based company became entangled in ongoing US-China tech tensions last year when then US ... » Learn More about ByteDance founder Zhang Yiming tops China’s under 40 business leaders list for third year running
Grab Holdings, Southeast Asia’s most valuable tech unicorn, is going public in New York following a blockbuster US$39.6 billion (S$52 million) merger with a blank cheque company. The Singapore ride-hailing and food delivery company’s listing is expected to be the biggest listing ever by a tech company from Southeast Asia and an important bellwether for the region’s burgeoning technology sector. It is also the latest company to go public via a special purpose acquisition company (SPAC), the hottest fundraising trend globally since early last year. As investors pore over its financials, they will draw parallels with US-listed ride-hailing companies Uber and Lyft and China’s Didi Chuxing, which has filed confidentially to float in New York. For food delivery, investors may cross-reference Amazon-backed Deliveroo, whose shares flopped on their March 31 debut on the London stock exchange. However, Grab offers a different proposition to investors with its super app housing all its ... » Learn More about Why is Singapore’s Grab different from ride-hailing giants Uber, Lyft and Didi?
Digital financial services giant Ant Group is on the cusp of pulling off the world’s biggest initial public offering and could be worth over US$500 billion (S$681 billion) in the near future, riding on the digitisation of financial services in the world’s second-largest economy. Hangzhou-headquartered Ant’s coming out parade illustrates China’s lead in digital finance. Its super-slick mobile payment app, Alipay, has over 1 billion users, making it the world’s most popular app outside social-media networks. Ant’s payments network is just the gateway, funnelling small businesses and consumers into a broad financial ecosystem spanning lending, investment and insurance services. The world’s most valuable privately owned company is also developing services to make daily life easier. Consumers can click on the Alipay app for services ranging from food deliveries to garbage collection. The system’s cogs are oiled by a trove of data gathered in China, the world’s most populous ... » Learn More about What is Jack Ma’s Ant Group and how does it make money?
RIGA (Reuters) - Eight people died in a fire in an "illegal" tourist hostel in the centre of the Latvian capital Riga early on Wednesday and the city's mayor vowed to shut such accommodation down. Mayor Martins Stakis said the hostel, set up in an apartment near the city's main railway station, was mainly used by foreigners but it was not clear yet who the victims were. Alongside the eight dead, nine people were found injured and 24 evacuated from the fire, on the sixth-floor, after emergency services were called at 4.43 a.m. (0143 GMT), a Fire and Rescue service statement said. News agency BNS said police had launched a criminal investigation. The mayor said the hostel was called Japanese Style Centrum. Pictures of its premises on booking.com website show beds tightly packed into small attic rooms. "Rooms looked like a shoe box," Sofia from Spain wrote in a review on the website after staying in the hostel in February. Another review, by a Latvian called Viktorija who ... » Learn More about Fire in ‘illegal’ Riga tourist hostel kills eight, injures nine
SINGAPORE - In a turn of events, a 41-year-old housewife who starved, tortured and ultimately killed her domestic worker from Myanmar has changed lawyers and is making further moves in a bid to avoid life in prison. Gaiyathiri Murugayan, the wife of a policeman, pleaded guilty in February this year to 28 charges, the most serious being culpable homicide, for which prosecutors had sought the maximum sentence of life imprisonment. The other charges were mostly hurt-related offences for physical abuse she inflicted on 24-year-old Piang Ngaih Don, who weighed a mere 24kg when she died from the final assault on July 26, 2016. Gaiyathiri was due to be sentenced on Thursday (April 29) by High Court judge See Kee Oon. However, it emerged during the hearing that she had changed lawyers last month. Justice See noted that Gaiyathiri "appeared to have changed her position about maintaining her plea of guilt" and asked her new lawyer, Mr Joseph Chen, to clarify whether she wanted to retract ... » Learn More about Cop’s wife who tortured Myanmar maid to death makes legal moves to avoid life in jail
share this article bookmark article share on facebook share on twitter share on Linkedin share on whatsapp share on email Share this article Whatsapp Facebook Twitter Linkedin Share AFP Washington, United States ● Tue, April 27, 2021 2021-04-27 15:35 1 559f5bc8c5224ad06a25184c0a4188d3 2 SE Asia BarackObama,Myanmar,military-junta,Asia,ASEAN Free Former US president Barack Obama on Monday urged all nations to stand firm against Myanmar's junta, voicing solidarity with democracy protesters and warning of a "failed state." "The world's attention must remain on Myanmar, where I've been appalled by heartbreaking violence against civilians and inspired by the nationwide movement that represents the voice of the people," said Obama, who visited the country to support its nascent embrace of democracy a decade ago. "The military's illegitimate and brutal ... » Learn More about Obama urges world to reject Myanmar junta, warns of ‘failed state’