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The Lao Government has decided to raise the monthly minimum wage from LAK1.2 million (nearly US$70) to LAK1.3 million starting May 1 to ease workers’ difficulties amid soaring inflation and economic uncertainties. The decision was made at the Lao Government’s…
Experts say that taxing housing will help make the real estate market more transparent and prevent speculation, but it is necessary to digitize data, ensure fairness, and avoid overlapping taxes. The government plans to enact a new law on real estate taxation…
While various stimulus packages got the global economy through the short-term challenges of COVID-19, they were always going to cause difficulties in the medium term. Inflation has risen and recessions look likely, so how can investors respond effectively?…
The minimum wage – minimum living standard gap has been widening for years, but there is no solution in sight as workers struggle to make ends meet. Vietnam first introduced the “minimum living standard” term in its 2012 Labor Law, which requires that the…
Hanoi serviced apartment rents fell by 3 percent to a three-year low of VND547,000 (US$24.16) per square meter per month last quarter, according to Savills Vietnam. Compared to a year earlier the average rents for grades A-C apartments decreased by 4 percent…
The swipe craze is about to get reignited with a fresh new feature – apparently, Tinder is working on a new functionality called “Swipe Party”. This was uncovered by the Dutch dating site GratisDatingTips, as the guys found evidence in the source code of the…
As of September this year, furniture giant Ikea will offer sustainably generated energy to Swedish households in a move to diversify its business and offer a green approach to power supply. The STRÖMMA offer will be made in partnership with local energy…
Last week, Spotify announced that during the first quarter of this year, the number of its paid subscribers rose 21% to 158 million. During that quarter, Spotify HiFi was unveiled which will give subscribers the option to listen to lossless streaming music in…
Department store sales jumped 40 percent in February against a year-ago period in the biggest year-on-year gain since the data became available from 2005 to suggest a rebound in private consumption in South Korea. According to the Ministry of Strategy and…
Instagram is further improving the live features of its app with new functionalities that allow up to four people to go live at the same time. The new feature is called Live Rooms and bumps up the number of Instagram users that could go live at the same time…
Chubb, the world’s largest publicly traded property and casualty insurer has announced new appointments for its Asia Pacific property and casualty team. Commercial property specialist Alex Todd has joined Chubb as its head of property, a role in which he will…
The pharmaceutical industry’s revenues rose by just 3 percent in 2020, down from an average of 11.8 percent in the previous five years. But it was a notable year for mergers and acquisitions. According to analysts at SSI Securities, the total value of M&A was…
French luxury goods group LVMH LVMH.PA plans to overhaul Tiffany & Co’s vast merchandise lineup to focus more on gold and precious gems while going more upmarket with its silver bangles after closing the $15.8 billion takeover of the U.S. jeweller this month.…
Vietnam’s rate of child labor, 5.3 percent, is around 2 percentage points lower than the average in Asia and the Pacific, a study has found. This equates to more than one million children in the ages of 5-17 engaged in labor, the survey was done in 2018 by…
The government has cut electricity prices by 10 percent for the year’s last quarter to support economic recovery from Covid-19 impacts. The discount applies to businesses and households for a maximum of 300-kilowatt-hour consumption per month from October to…
Ikea is to open its second second-hand furniture store in its home country, Sweden, expanding its commitment to the circular economy concept. The store, located in the ReTuna shopping mall in Eskilstuna, will stock used Ikea furniture bought back from…
