SINGAPORE – The retirement and re-employment ages for Singapore workers will be progressively raised to 65 and 70 years old respectively under the law, to support older Singaporeans who wish to continue working to do so. Speaking at the start of the debate on changes to the Retirement and Re-Employment Act and the Central Provident Fund […]
Read MoreSingapore will be in for tougher competition when new rules on a minimum global corporate tax are implemented, said Prime Minister Lee Hsien Loong on Sunday (Oct 31). Specifically, the decision will impact how the country attracts investments. This is because tax incentives – along with grants and other schemes – are a major tool in the […]
Read MoreSINGAPORE – Lower-wage workers earning up to $2,000 gross monthly should get a pay hike of $70 to $90, or a 4.5 per cent to 7.5 per cent raise if it is higher, to ensure that pay for such workers grow faster than those at the median wage level. This guidance on the rate of […]
Read MoreSINGAPORE (THE BUSINESS TIMES) – Business optimism among local firms remained positive into the final stretch of 2021, although manufacturers’ optimism has receded quarter on quarter, even as firms in the services sector took a rosier outlook. A net weighted balance of 16 per cent of manufacturers expect conditions to be better for the next […]
Read MoreSINGAPORE – Singapore’s labour market improved in the third quarter of this year, compared with the second quarter, despite the continuing heightened Covid-19 restrictions, the Manpower Ministry (MOM) said in advanced estimates released on Friday (Oct 29). The number of retrenchments fell and total employment decline also slowed – thanks to resident employment, which covers Singapore citizens […]
Read MoreSINGAPORE – Employers that have recovered or are recovering from the fallout of Covid-19 should prioritise restoring workers’ wage cuts and rolling back wage-related cost-saving measures such as temporary layoffs. The National Wages Council (NWC) also said on Friday (Oct 29) that businesses which are still struggling should consider non-wage cost-saving measures as far as […]
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Thailand
