World

SINGAPORE: Mid-year examinations for all primary and secondary school levels will be removed by 2023, announced Minister for Education Chan Chun Sing on Monday (Mar 7). Speaking in Parliament during his ministry’s Committee of Supply debate, Mr Chan noted that mid-year examinations for Primary 3 and 5 and Secondary 1 and 3 students have been removed over the last few years. “We saw the positive impact. Schools and teachers can better pace and deepen students’ learning,” he said. “They use ongoing assessments to identify what students have mastered and the areas they have difficulties with. Students also focus more on their learning and less on marks.” Removing mid-year examinations for all primary and secondary levels frees up more time for “self-directed learning and developing 21st-c...

The consumer-price index hitting a forty-year high would seem like a pretty straightforward headline, but of course there's already tons of debate about which components saw deceleration, which ones are now picking up, whether it would have peaked already absent the Ukraine invasion, and so on. But the core issue for the real staying power of inflation in the months (and years) to come is not the direction of oil, wheat, nickel, or any other aspect of the supply chain (although that obviously doesn't help things) or even the housing market. The real issue going forward is the tightness of the labor market. On that front, the arguably more important data point this week was the typically second-tier "JOLTS" report (Job Openings and Labor Turnover) released yesterday morning. We previously...

Russia’s attack on Ukraine seems to have united Europe and many other democracies in the West, which were until fairly recently squabbling over trade, defense agreements, COVID-19 policies and other issues. European countries and the United States have consulted closely over their response to Russia’s incursion, putting together a range of tough measures against Moscow that includes cutting Russian businesses off from much of the global financial system, banning Russian planes from much of the airspace over Europe and North America, and introducing heavy sanctions. What’s more, the member states of the North Atlantic Treaty Organization are sending weapons into Ukraine, including rocket launchers and surface-to-air missiles. In many ways, the Ukraine conflict seems like a defining moment...

HONG KONG: Hong Kong resident Yeung waited for 13 hours outside a hospital in the city's eastern district in cold, rainy weather with his three-year-old daughter, who had a high fever, before they could be admitted for COVID-19 treatment. By the time they could enter, her fever had gone down and she didn't require medical attention. Yet the 42-year-old utilities worker had to stay in the hospital for four nights without a bed, because he and his daughter were not allowed to leave. They were then sent to a government isolation centre for nine more days. His biggest stress came not from becoming infected, but leaving his wife and 22-month-old, both with COVID-19, at home without any support. "My wife suffered a lot. Her symptoms became more serious because of the hardship of taking care ...

Inflation in the U.S. may not be able to go any higher in the current economic cycle, CNBC's Jim Cramer said Tuesday on the heels of yet another hot price index report. "I think this is the highest I've ever seen these numbers, and they merit attention, they merit what Mr. Bullard said [Monday], and I think that we should continue to expect that Bullard's going to be right," Cramer said, referencing St. Louis Federal Reserve President James Bullard urging central bankers to "front-load" interest rate hikes to fight spiraling inflation. "But I also think that when you see this kind of number, you have to wonder how sustainable it is. I mean, this is like, everything is red hot," the "Mad Money" host added. "It's just not sustainable. It's too high." The producer price index, which measur...

HONG KONG/SINGAPORE: Southeast Asian stocks are becoming a haven for international investors fleeing a worsening outlook for global equities who are hoping for sustained strength in the commodity-heavy economies of the region. Driving the renewed interest is a surge in commodity prices that spells good news, particularly for key producers Indonesia and Malaysia, coupled with the sparse economic links between Southeast Asia and the warring nations of Russia and Ukraine. Supply disruptions caused by the conflict and subsequent Western sanctions have sent commodities prices soaring, with Brent crude, coal, palm oil and nickel hitting multi-year highs. "Commodity prices are now likely to be higher for longer," said Jerry Goh, an Asian equities investment manager at fund house abrdn. "We ex...

Commuters at a train station in Tokyo on Aug. 10, 2021. Yuki Iwamura | Afp | Getty Images Having a work-life balance is a growing priority for many workers. Yet in some parts of Asia, a six-day work week is still the norm. That's because "hard work is highly associated with success," said James Root, partner and co-chairman at Bain Futures, a think tank at the consulting firm Bain & Company. "Asia is home to some countries with famously long working hours — South Korea, China, and Japan, for example," said Root. Yet, "firms all over the world, including Asia, are constantly looking for ways to make [offices] more fulfilling places to work." Root mentioned half-day Fridays, unlimited vacation time, work from home options, generous maternity and paternity leave and re-skilling allowances. B...

SINGAPORE: We live in an increasingly time-scarce world. As a working parent of two primary school children and a teen, I am starting to feel the brunt of this year, as everyone’s schedules sometimes have us running in all directions. Even at the dining table – the spot where we meet and congregate before the day officially begins and when the day’s work ends – it is a daily tussle to pull everyone away from devices, books and homework, and to be fully present. Especially for myself, as a working mother. Just last week, I took the children out on a “date” to a nearby café. I made everyone leave their devices and books behind and bring only themselves. We had a nice time chatting about the latest things they were into, about friends in school and even about the war in Ukraine and how to ...

BEIJING: China's export growth slowed in the January-February period due to the week-long Lunar New Year holiday and though the data beat expectations, Russia's invasion of Ukraine has heightened uncertainty over the outlook for global trade this year. Outbound shipments rose 16.3 per cent in the first two months of the year from the same period a year earlier, official data showed on Monday, beating analyst expectations for a 15.0 per cent rise, but down from 20.9 per cent gain in December. Imports increased 15.5 per cent, easing from a 19.5 per cent gain in December and below the forecast 16.5 per cent increase. The customs agency publishes combined January and February trade data to smooth distortions caused by the Lunar New Year, which can fall in either month. Factory activity nor...

Over the past year, the administration of U.S. President Joe Biden has made clear its pivot to the Indo-Pacific region, singling out China as the “only competitor” potentially able to mount a sustained challenge to a stable and open international system. But Russia’s invasion of Ukraine on Thursday has underscored that the United States does not have the luxury of dealing only with the China challenge, while possibly complicating Biden’s Indo-Pacific strategy that views Europe’s engagement as a key part of the “collective capacity” Washington seeks to build in pushing back against Beijing. “The United States can’t simply return to its previous business of focusing predominantly on China,” Andrea Kendall-Taylor, an expert on security issues at the Center for a New American Security, told ...