A more nuanced approach to restructuring
Embracing innovation instead of relying on cheap foreign labour will reap greater long-term rewards
Singapore
SINGAPORE will slow the pace at which it is squeezing foreign worker inflows, but the government made sure that this would not be mistaken for a U-turn on restructuring.
Even as Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam announced that foreign worker levy hikes earlier scheduled for this July would be pushed back a year - a move businesses have been hoping for - he stressed that this change in pace was not a change in direction.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’