CNA938 Rewind - SG Brands we ❤️ x SG60 (Ep 4): CapitaLand Development CEO Jonathan Yap
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CNA
10 minutes ago
- CNA
Bank of Thailand set to cut rates on August 13 to support economy: Reuters poll
BENGALURU :The Bank of Thailand will lower its key interest rate on Wednesday to support a slowing economy as negative inflation persists and U.S. tariffs remain elevated, according to a Reuters poll of economists. Thailand's central bank left its policy rate unchanged in June but noted it was open to cutting as needed to counter the effects of an economic outlook that has turned highly uncertain in recent months. Central bank data showed private consumption contracted 0.3 per cent and exports fell nearly 5.0 per cent in June compared with May. This, along with negative inflation for the fourth consecutive month in July, will give policymakers room to cut on August 13. More than 80 per cent of economists, 23 of 28 in the August 4-8 Reuters poll, predicted the BOT would cut its benchmark one-day repurchase rate by 25 basis points to 1.50 per cent on Wednesday. The rest expected no change. "The economy is undeniably softening," Erica Tay, director of macro research at Maybank, said. "The case for an August rate cut has grown stronger. The latest inflation data showed core inflation has reversed its rising trend. Weakening core inflation upends the belief recent price weakness is mostly due to global oil prices and weather-related food supply shifts," she added. Among those who gave a longer-term outlook, 19 of 26 expected rates at 1.25 per cent by the end of 2025, seven said 1.50 per cent and one forecast 1.00 per cent. Vitai Ratanakorn will take the helm at the BOT on October 1 and he has said rates can go down much further. With the U.S. placing tariffs on Thai goods of 19 per cent, albeit less than the initially proposed 36 per cent, economists expect a hit to growth. A separate Reuters poll taken in July forecast growth at 1.3 per cent and 0.9 per cent in the third and fourth quarters, respectively. "If you look at export growth, it's been in double digits until recently, mainly due to a rush by the U.S. to import goods from Thailand and other trading partners," Poon Panichpibool, a markets strategist at Krung Thai Bank, said. "This will come down, and we'll see much slower growth, which is going to reduce overall economic growth in the second half."
Independent Singapore
16 minutes ago
- Independent Singapore
Singapore woman quits S$6k job to escape toxic boss, ends up struggling on half the pay
SINGAPORE: Many employees leave their high-paying jobs to escape the stress of a toxic work environment or difficult bosses. However, a man recently shared on social media that such moves do not always lead to happier outcomes. Posting on Reddit's Ask Singapore forum, he said his sister experienced this firsthand. According to him, she left her S$6,000-a-month job because of a 'toxic boss' and an 'overly demanding' workplace. She eventually took on a job paying S$3,000, hoping that her mental health would improve and that she would enjoy a better work-life balance. Unfortunately, things did not turn out as she had imagined. The man said his sister recently complained that her new role remains stressful and tiring. On top of that, she is now struggling financially. 'She walked away from S$6k to earn S$3k, and now she complains she's got no money,' he said. 'It's the very decision she made for herself, yet she's resenting it.' He also shared that when he tried to offer practical solutions to improve her situation, his sister dismissed every suggestion outright. 'I talked to her about upgrading her skills to ease into finding a different job with a higher salary, [but she said] it's 'so time-consuming' and that 'those institutions are just out there to make money, not really professional in teaching,'' he wrote. 'OK, then I suggested self-learning, [but she said she had] 'no time,' and 'I can't follow if I have no structure.'' The man said it has been frustrating to watch his sister remain in a cycle of dissatisfaction without taking any steps toward change. Beyond the emotional strain, the situation has also had a tangible impact on their family finances. Since his sister stopped contributing a monthly allowance to their parents, he has been forced to shoulder more of the household's expenses on his own. Feeling stuck and unsure how to help, he turned to the Reddit community for advice. 'How do you advise someone like this? She's got years of working ahead of her, but she seems stuck and unwilling to make any change,' he said. 'What kind of counselling service or career advisor in SG can I send her to? I can't just leave her like that because she's my sister, and I want her to be happy, whether she's earning S$3k or S$6k. I want her happy and healthy, not complaining and stuck.' 'Every time she complains, you have to shut her down.' In the discussion thread, one commenter bluntly told the man that his sister needed to take responsibility for her choices. 'Your sis is a working adult. She has to learn to resolve her own issue and make her own decision,' they wrote. 'You can help advise her, but that is all. She has to work it out herself. The more you help her, the more she will take for granted and ignore you.' Another echoed this sentiment, writing, 'No, you can't do anything but advise nicely once. Subsequently, the best you can do is just listen. Because if she didnt listen the first time, no matter what you say is not going to work. So let her rant if she needs it.' A third suggested, 'You have to be honest with her that she cannot complain if she doesn't want to try and put in the work. Every time she complains, you have to shut her down.' In other news, a part-time worker has publicly criticised a 'drink stall chain' in Singapore for making her and other employees pay for any incorrectly made beverages. In a post on the r/SGexams subreddit, the worker wrote that she found the policy both 'unnecessary' and 'unreasonable,' especially since they are only paid S$9 per hour. Read more: Drink stall chain allegedly makes staff pay for incorrect orders, says part-time worker
Independent Singapore
16 minutes ago
- Independent Singapore
'It's ungodly and unnecessarily tedious!': Poly grad slams recruitment agencies for making job hunt ‘10x longer'
SINGAPORE: The job market is bad enough these days, but one poly graduate says recruitment agencies are making things even harder. Posting on the r/askSingapore forum on Thursday (Aug 7), the graduate, who holds a diploma in Early Childhood Education, shared her irritation over how recruitment agencies now operate. According to her, many no longer reveal the name of the hiring company at the beginning of the process. In some cases, she said, applicants are only told who they are interviewing for during the second round of online interviews. Frustrated, the graduate called the entire process 'ungodly and unnecessarily tedious!' 'They make the process 10x as long,' she wrote, griping about the situation. 'I think it's extremely sketchy that they don't usually input the company that you are applying for.' On top of all the confusion and delays caused by recruitment agencies, the graduate also pointed out how tough it is to land a job as a fresh grad. She shared that she's sent out over 100 applications in the past few weeks but only received three interviews. None of them led to job offers either, as, according to the employers, she has 'little experience.' 'It's unbelievably tough to find a job,' she said. 'Everybody else my age right now is also facing the same issue.' She went on to add that even the few people she knows who did manage to land jobs aren't in much better shape. 'The people that I know who are hired now have accepted really low pay like S$2.2-2.5k, for jobs that overwork them to the bone and with little benefits.' 'Just take interviews as experience to help you grow.' In the discussion thread, many locals stepped in to encourage the fresh graduate, urging her not to give up on her job search even though the process felt overwhelming and disheartening. To further support and reassure her, several commenters shared personal stories from their own lives. One wrote, 'I sent 200+ resumes and only got employed two years after graduation for a job unrelated to my major with a local degree, about a decade ago.' Another commented, 'Keep fighting! Back then, I applied for 300+ jobs before being accepted.' A third shared, 'I just got employed like last week on Friday, after spending two months unemployed. The first two weeks, I mainly spent time looking for a job. Gradually, I started thinking of it as a 'daily quest' to just like apply for 10 jobs a day, then go do my own stuff. Eventually, I got some part-time offers and a few interviews.': 'Some recruiters actually pull through for you, honestly. Just take interviews as experience to help you grow, and always expect the unexpected so you don't end up too disappointed.' In other news, a domestic helper took to social media to ask if she was wrong for requesting a S$10,000 loan from her employer in exchange for renewing her contract. 'I'm finishing my contract [with] my employer this coming October. My employer asked me if I still want to continue. Then I tried to tell them what I wanted,' she wrote in a post on the MDW in Singapore Facebook group. 'I told them if they can lend me S$10,000, then I can continue to work. I told them that I need to start to build my home in my country, and I need a big amount of money. Just trying lah if they can lend me.' Read more: Maid asks if she was wrong to request S$10k loan in exchange for renewing contract
