Wages in high-skilled industries such as engineering and technology are being driven higher, as employers here find it harder to find highly-skilled workers , says a recruitment firm. Also, the talent pool here often doesn't have the skills employers want, leading to both higher rates of vacancies and unemployment here, Hays also said.
The Malaysian ringgit and Indonesian rupiah slid to fresh 17-year lows on Tuesday (Sept 29), as persistent worries about the health of the Chinese and global economies weighed on risk sentiment and dented emerging Asian currencies.
Shares in Singapore-listed commodity trader Noble Group dropped as much as 15 per cent on Tuesday (Sept 29) after a nearly 30 per cent slump in mining and trading company Glencore sparked global worries about the sector's outlook.
The 15-month commodities free-fall is starting to resemble a full-blown crisis. Investors are reacting to diminished demand from China and an end to the cheap-money era provided by the Federal Reserve.
Hong Kong home prices are the highest relative to shares of the city's publicly-traded developers in almost two decades. For Bocom International Holdings Co. analyst Alfred Lau, that's a sign that the property market's about to drop as much as 20 per cent.
Japan's transport ministry has ordered carmakers to investigate whether their diesel vehicles meet the country's emission norms after Volkswagen admitted to rigging some cars to cheat on US tests.
India's central bank lowered interest rates more than expected to bolster the economy as China's slowdown threatens global growth and a commodity rout contains inflation.
Euro-area economic confidence unexpectedly increased in September as sentiment in the industrial and services sectors improved. The index of executive and consumer confidence rose to 105.6 in September from a revised 104.1 in August, the European Commission said on Tuesday.