Labeling the unbearable: Nairobi data workers reel in the worst for $12 per hour
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South China Morning Post
9 hours ago
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White House defends Trump's firing of labour statistics head over US jobs data
White House economic advisers on Sunday defended US President Donald Trump's firing of the head of the Bureau of Labour Statistics , pushing back against criticism that Trump's action could undermine confidence in official US economic data. Later on Sunday, Trump again criticised BLS Commissioner Erika McEntarfer, without providing evidence of wrongdoing, and said he would name a new BLS commissioner in the next three or four days. US Trade Representative Jamieson Greer told CBS that Trump had 'real concerns' about the BLS data, while Kevin Hassett, director of the National Economic Council, said the president 'is right to call for new leadership'. Hassett said on Fox News Sunday the main concern was Friday's BLS report of net downward revisions showing 258,000 fewer jobs had been created in May and June than previously reported. Erika McEntarfer, who was fired as BLS Commissioner. Photo: US Bureau of Labour Statistics via Reuters Trump accused McEntarfer of faking the jobs numbers, without providing any evidence of data manipulation. The BLS compiles the closely watched employment report as well as consumer and producer price data.
South China Morning Post
14 hours ago
- South China Morning Post
Hong Kong's booming wealth sector to lead hiring and office expansion, HKMA says
The strong growth of Hong Kong's private banking and wealth management sectors will drive increased hiring and leasing of office space in the coming years, according to the chief executive of Hong Kong Monetary Authority (HKMA). Major private banks' assets under management (AUM) in the city rose 14 per cent in the first half of the year compared with the end of December, while they hired more than 400 wealth management experts in the last two years, an increase of 12 per cent, said Eddie Yue Wai-man, without naming them. HSBC and Standard Chartered reported strong growth in their wealth management business in the first half in their interim results last week. Transactions by the city's 46 private banks hit HK$4.47 trillion (US$569.4 billion) last year, up 50 per cent from HK$2.97 trillion in 2022, he said, adding that some of them expanded their office space by as much as 50 per cent in recent years. HKMA chief executive Eddie Yue says Hong Kong lenders have benefited from the fast-growing wealth in Asia. Photo: Jonathan Wong 'Recently, a number of international banks and asset management firms have announced plans to further enlarge their operations in the city, with headcount growth projected to range from 10 per cent to 100 per cent in the next few years,' Yue said in an article posted on the HKMA's website.
South China Morning Post
2 days ago
- South China Morning Post
China-built satellite station a ‘shining' example of support for Namibian space programme
On the outskirts of the Namibian capital Windhoek, a Chinese-funded and built satellite data receiving ground station symbolises China's growing cooperation in Africa's nascent space industry. The station was described by the Chinese embassy as 'a shining example of China-Namibia cooperation ' as they celebrated the 35th anniversary of diplomatic relations. In a social media post on July 18 announcing the completion of the satellite facility ahead of time earlier this year, the embassy said it aimed to support Namibia in developing its space-related infrastructure and training technical talent , while enhancing its capacity in remote sensing satellite applications'. The ground station will primarily receive, process and distribute remote sensing satellite data for various applications such as environmental monitoring, agriculture , disaster management and resource assessment in the southwestern African country. China will also provide technical training to dozens of engineers to build up Namibia's capacity to operate and use the station independently. This ongoing cooperation highlights China's growing influence in space, as it helps African nations to build their space capabilities through strategic partnerships.
