CNA938 Rewind - Stock take today: Trump delays China tariffs, hints at Nvidia chip sales
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CNA
an hour ago
- CNA
Long hunts, few replies: Singapore university graduates finding it tough in job market, CNA poll finds
More than half of those polled by CNA (56.2 per cent) said that understanding employer expectations would improve their confidence in job applications. Others said they would benefit from paid internships or traineeships (55.2 per cent) and more interview opportunities (54.3 per cent). For Mr Wee Lian Kit, who majored in economics at NUS, vague job listings made it difficult to gauge his suitability for roles. 'You send a lot of applications that you think you are qualified for, but at the end, you might not even make it past the screening stage,' said the 27-year-old, who now works in an executive search firm. He recalls applying to over 100 roles when he graduated last year. NTU graduate Mr Ong agreed, saying more clarity from employers would help applicants understand rejections. 'At least when I get rejected, I will understand why I got rejected,' he said. Group CEO of recruitment firm Reeracoen, Mr Kenji Naito, said employers could help bridge the gap by sharing clearer job scopes and valuing potential and cultural fit, not just qualifications. He added that amid global shifts and growing use of artificial intelligence, soft skills such as empathy and adaptability are increasingly valuable. Graduates can also take short courses, volunteer for leadership roles or seek mentorship to strengthen their profile. Mr Derrick Teo, a certified Institute for Human Resource Professionals (IHRP) senior professional, said AI tools are reshaping job functions and graduates need to learn how to use such tools effectively. Mr Teo, who is also the CEO of HR solutions provider Elitez Group, also noted that job competition now extends across borders. 'Rather than fixating on salary benchmarks – which can be influenced by recruitment marketing – graduates should focus on differentiating their skills, adaptability and commercial awareness,' he said. BE PROACTIVE The government has said it is working to improve employment outcomes for fresh graduates. Minister of State for Trade and Industry Gan Siow Huang said on Jul 9 that authorities are 'closely monitoring' the employment situation. Institutes of higher learning are also working with agencies such as Workforce Singapore and the NTUC's Employment and Employability Institute to organise career fairs, workshops and mentoring sessions. The Singapore Economic Resilience Taskforce, led by Deputy Prime Minister Gan Kim Yong, is also exploring ways to support new graduates. The task force was set up in April to address the impact of US-imposed tariffs. Minister for Manpower Tan See Leng said on Jul 10 that entry-level job vacancies remain steady. "To our 2025 graduates, it is still early in your job search. We encourage everyone to keep an open mind to different opportunities in their job searches," he said. Career experts encouraged graduates to be proactive by networking at industry events and tapping on their professional contacts. In CNA's straw poll, 40 per cent of respondents said a lack of industry contacts or networking opportunities was a challenge. Randstad Singapore's country director David Blasco said even conversations that don't lead to offers can offer insights into industry trends and in-demand traits. He added that graduates can leverage platforms such as LinkedIn and industry events to ask working professionals about industry trends, in-demand skills and personality traits that employers value in young hires. For Mr Ye Jun Zheng, a Yale-NUS graduate in urban studies, a friend's referral helped him land a role as a customer support specialist at a tech multinational corporation. 'I was lucky to find a fit at a place I least expected – with a friend who introduced the job to me and another to refer me in,' said the 25-year-old. Mr Zac Ng, managing director of recruitment agency Cultivar Asia, said there is no fixed timeline for fresh graduates to land a job, but it is important to stay active by taking on temporary or contract roles. 'The goal should be to keep moving forward – be it through employment, training or internships – so that the momentum is not lost,' he said, adding that such roles offer both income and transferable skills. 'They are stepping stones, if not a long-term career.' As for Ms Kuek, she sees a ray of hope in her job search after securing an interview with a publishing company. "I'll see how this one goes … If it falls through, then I have to keep trying."
CNA
2 hours ago
- CNA
Pakistan finance minister eyes cut to key policy rate from 11%
ISLAMABAD :Pakistan's finance minister said on Wednesday that there was more room for the central bank to cut the country's key policy rate down from 11 per cent. "We are hopeful of progress in terms of the policy rate going south," Mohammed Aurangzeb said at an event in Islamabad. The next policy rate announcement is due on September 15, according to the State Bank of Pakistan's calendar. The central bank left its key interest rate unchanged at 11 per cent on July 30, going against analyst expectations. In a Reuters poll ahead of the policy rate announcement, all 15 analysts said they expected the bank to ease, with nine forecasting a 50 basis-point cut, four predicting a deeper 100 basis-point reduction and two projecting a smaller 25 basis-point cut.
CNA
2 hours ago
- CNA
Thai central bank cuts rates to lowest in two years to support growth
BANGKOK : Thailand's central bank lowered its policy rate by a quarter point on Wednesday, its fourth cut in 10 months, to support a sluggish economy grappling with falling prices, the impact of U.S. tariffs and a decline in foreign tourists. The monetary committee unanimously voted to cut the one-day repurchase rate by 25 basis points to 1.50 per cent, the lowest in more than two years. The economy was expected to expand this year and next, close to earlier assessments, but U.S. trade policies would exacerbate structural problems and weaken competitiveness, with small businesses vulnerable, the central bank said in a statement. "Going forward, the economy is expected to slow down in the second half of the year due to U.S. trade policies, both directly and indirectly, and a decline in short-haul tourist arrivals as a result of intensified regional competition," it said, adding that private consumption and small businesses would be hit. "The committee views that monetary policy should be accommodative going forward to support the economy," it added. The central bank said it expects growth in Southeast Asia's second-largest economy to slow in the second half of the year. The baht reversed course to fall 0.1 per cent after the announcement, while Thai stocks were largely unchanged after rising 1.10 per cent in morning trading. The economy has struggled with weak consumption, high household debt, slowing tourism, trade uncertainty and U.S. tariffs. The central bank has said the economy might have grown about 3 per cent annually in the second quarter of 2025 but would feel the impact of U.S. tariffs and weakening consumption later this year. Wednesday's meeting was the last for Governor Sethaput Suthiwartnarueput. New Governor Vitai Ratanakorn will take over on October 1, and he has said rate cuts will support growth. The next policy review will be on October 8. In June, the BOT predicted 2025 economic growth of 2.3 per cent, with export growth of 4 per cent, after factoring in U.S. tariff rates of 18 per cent. The economy expanded 2.5 per cent last year, lagging peers. Last month, the United States reduced its tariff rate to 19 per cent on imported goods from Thailand, down from the initial 36 per cent level and more aligned with other countries in the region. There are still uncertainties relating to U.S. tariffs on transshipments via Thailand from third countries. There are still uncertainties relating to U.S. tariffs on transshipments via Thailand from third countries. The United States was Thailand's biggest export market last year, accounting for 18.3 per cent of total shipments, with a value of $55 billion. Consumer prices in July fell 0.7 per cent from a year earlier, down for a fourth consecutive month, and below the central bank's target range of 1 per cent to 3 per cent for the fifth consecutive month. Headline inflation was subdued because of supply side factors including low food prices from favourable weather conditions and downward trends in energy prices, the BOT said. Price decline was not widespread as core inflation remained stable and near previous assessments, it said. In June, the central bank predicted headline inflation of 0.5 per cent this year, with the core rate seen at 1 per cent.
