Search Results for: cost-of-living crisis
- World News
Queen’s funeral costs taxpayers £162m amid cost-of-living crisis
The UK government has disclosed that the state funeral and related events for Queen Elizabeth II, who passed away last September, cost taxpayers almost £162 million (US$201 million). This is the first public estimate of the expenses associated with the funeral of Britain’s longest-serving monarch. The state funeral, held on September 19, required an extensive security operation to accommodate hundreds…
- Business News
Thai government and central bank clash over interest rates
The ongoing discord between government officials and central bankers regarding interest rate adjustments is creating uncertainty for local banks and could potentially trigger further foreign investor withdrawals. Thailand Prime Minister Srettha Thavisin, along with key advisors, is advocating for a reduction in rates by the Bank of Thailand (BoT) to stimulate an economy the Thai PM describes as being in…
- Business News
Vietnam attracts soaring Chinese investment as US trade dwindles
With a surge in Chinese investment, Vietnam has become a hotspot for economic activity this year, as figures indicate a decline in US trade and spending. Vietnam’s strategic location along the South China Sea makes it a vital link in global supply chains, particularly for Chinese components and American consumers. September saw United States President Joe Biden elevate diplomatic relations…
- Business News
Singapore and Zurich rank as world’s most expensive cities in 2023
The Economist Intelligence Unit (EIU) recently revealed that Singapore and Zurich share the title of the world’s most expensive city in 2023. Following closely are Geneva, New York, and Hong Kong, maintaining that the worldwide cost-of-living crisis is yet unresolved. The research and analysis division of the Economist Group observed that prices for over 200 frequently utilised goods and services…
- World News
UK government faces backlash over new North Sea oil and gas licenses
In a controversial move, the British government yesterday declared its intention to release “hundreds” of fresh licenses for oil and gas exploration in the North Sea, aiming to bolster national energy reserves while still vowing to achieve net-zero carbon emissions by 2050. This announcement has incited a wave of criticism from environmental groups and has fuelled an ongoing debate within…
- World News
Greggs eyes Cornwall expansion, challenging traditional pasty makers
Greggs, the popular UK bakery chain, is planning to expand its presence in Cornwall and the South West of England, potentially competing with traditional Cornish pasty makers. Roisin Currie, the company’s boss, revealed that Greggs aims to open 150 new shops across the nation this year, with a particular focus on Cornwall and the South West. Today, the company is…
- World News
Turkey’s first female central bank governor signals shift to conventional policies
Turkey’s President Recep Tayyip Erdogan has appointed Hafize Gaye Erkan, a former US-based bank executive, as the first female governor of the country’s central bank. The move signals a potential shift towards more conventional economic policies under Erdogan’s administration. Erkan, 41 years old, is a former co-chief executive officer of the First Republic Bank and holds a Princeton education. Erdogan…
- World News
Windfall tax suspension possible for energy firms amid falling oil prices
The UK government has declared its intention to suspend the windfall tax on oil and gas companies if prices return to normal levels for a sustained period. This move would reduce the overall tax rate on energy firms from 75% to 40%. The windfall tax was introduced last year to fund a scheme aimed at reducing energy bills for households…
- Politics News
UPDATE: UK PM Boris Johnson’s resignation speech in full
UPDATE: Boris Johnson today resigned as Britain’s prime minister. The 58 year old gave a speech outside of 10 Downing Street at 1pm UK time. Here is the full resignation speech: “It is clearly now the will of the parliamentary Conservative Party that there should be a new leader of that party and therefore a new prime minister, and I’ve…
- Politics News
UPDATE: Boris Johnson has agreed to resign as UK prime minister
UPDATE: Scotland’s First Minister Nicola Sturgeon says there will be “a widespread sense of relief that the chaos of the last few days (indeed months) will come to an end” as and when Boris Johnson resigns as Conservative leader. But the SNP leader questions the sustainability of Johnson staying on until the autumn, and says he was always “manifestly unfit…
- Business News
The future of Thai workforce: Embracing flex work and employee experiences
Despite facing economic uncertainties, nearly 60% of global executives anticipate their businesses to achieve stable or significant growth. Asian leaders, however, express concerns about the rising cost of capital and debt, labour market tightness, and competition for talent when planning for the upcoming year. In the Global Talent Trends (GTT) Study 2023 by Mercer, human resources leaders in Thailand shared…
