Hong Kong govt eyes 6.7% minimum wage hike
Subject to the approval of the Legislative Council, the revised minimum wage will come into force on May 1 this year, Labour Day.
ECONOMIC AFFAIRS
Philippine agriculture dept authorizes importation of more than 21,000 metric tons of onions
Retail prices of red onions have recently increased to as high as P700 per kilo, most likely the most expensive in the world.
Chinese tourist’s wanderlust unleashed after restrictions eased
The volume of international flight tickets booked for travel on Jan 8 surged 628 per cent year-on-year, hitting a level not seen since March 2020.
Travel agencies relieved as tourists make up for lost time
For the past New Year's Day holiday, a robust recovery took the tourism market by storm.
Record-high 2022 pork imports seen to further harm local meat producers
Brazil was the Philippines’ primary source of meat imports with Spain and the United States coming in second and third.
Bank of Korea likely to continue rate hikes
Though the consumer price index fell slightly to the 5 percent range after reaching its peak at 6.3 percent in July, it still exceeds the 2 percent target set by the central bank.
Indonesia’s new minimum wage regulation angers workers, employers
The new regulation has drawn ire from both workers and employers, who say that it has created legal uncertainty.
Pakistan exceeds target, raises more than $9bn for flood recovery
PM Shehbaz said that apart from the aid Pakistan received for flood rehabilitation, the state had “responded courageously” to the disaster.
Authorities mull measures to address ageing population
Older people, especially richer urban retirees, are increasingly seen by policymakers as potential consumers to drive economic growth.
‘We can’t feed kids at these prices’: School canteen operators ask for subsidies
With the rising costs of ingredients, they claim that they are struggling, especially when their prices are contractually bound by canteen tenders.