Britain is on the hunt for new apprentices. George Osborne recently unveiled a levy on large employers to pay for an increase in the number of apprenticeships from 2m to 5m. In addition, as he made the announcement, the chancellor signalled one of the key problems with workplace training, that while many companies do a brilliant job “there are too many large companies who … take a free ride on the system.”
Papua New Guinea’s recent period of exponential growth places it among the world’s most rapidly developing economies.
Between 2005 and 2014, PNG’s economy expanded at a real annual rate of 6.6 percent and income per capita reached US$2,081. Growth benefitted from macroeconomic stability and low volatility in output. Since 2009, a large amount of investment in the natural resources sector powered that growth. Support also came from the huge increase in demand for commodities worldwide, particularly in Asia.
Australian companies will soon be publishing financial results, as well as information about sustainability efforts.
Corporate social responsibility of the big four banks – Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac is a continuing topic of debate following recent scandals and reports of unsustainable activities.
Yet according to ANZ chairman, David Gonski, Australians ought to “stop bashing the banks” for being large and profitable.
When viewed through the lens of trade deals negotiated with the Association of Southeast Asian Nations (ASEAN), Australia, and the Trans-Pacific Partnership (TPP), Japan has shown recent willingness to engage in global free trade. However, is there any indication that these deals are striking a chord where it matters most, with Japan’s services sector, which comprises 70% of its economic activity?
The Canadian economy is on the brink of a recession, spelling trouble for Prime Minister Stephen Harper as he seeks a fourth term in office this year, according to Reuters. Currently, the New Democratic Party is taking the leading over Harper’s Conservative Party. Voting takes place in October.
Five years ago, few would have expected that China would produce four of the top ten global internet companies (by number of visitors) — Alibaba, Baidu, Tencent, and Sohu — as well as innovative multinationals like Huawei and Xiaomi. Nor would most have anticipated China’s increasing provision of global public goods, including its One Belt, One Road strategy, which aims to provide the infrastructure needed to knit Eurasia into a single vast market.
Unlike many countries in Asia, and indeed in the world, Vietnam is for the moment blessed with a raft of positive economic news. However, beneath the surface, structural problems and a lack of industrial deepening persist.
Exports have been growing at 18 percent year-on-year and 10 percent year-to-date. Disbursements in foreign direct investment rose by some 9.6 percent year-on-year with Samsung, in particular, manufacturing not only its smartphones but also TV and computer screens in Vietnam.
German Finance Minister Schaeuble claims that he raised the possibility of a Greek exit to push for an alternative, and he did so with backing of the Merkel government. He used the threat of a violating the “irreversible clause” of the EMU Treaty as a cudgel to beat Greek Prime Minister Tsipras into submission.
It appeared to work. Tsipras has not only agreed to all the terms he previously called “blackmail”, but he agreed to essentially implement all the earlier agreements since the crisis began and more.
China saw exports rise in a sign of improving global economic conditions, but imports fell just as China hopes to pivot towards a domestic demand-driven economy.
The US dollar, stocks, and bonds are largely moving within yesterday’s ranges as investors wait for fresh developments. A notable exception to this generalization is oil prices. News of a potential agreement with Iran weighs on prices, as it is seen bringing new supply into the already oversupplied market.
