IBM to freeze hiring as CEO expects AI to replace 7,800 jobs
CEO Arvind Krishna says 30 percent of non-customer-facing roles could be axed in the next five years.
Category Archives: Economy
IMF raises Asia’s economic forecast on China recovery
International lender raises 2023 growth outlook for region to 4.6 percent, up from 4.3 percent in October.
Australia’s Qantas picks first female CEO as Joyce prepares to go
CEO Alan Joyce to depart flagship carrier after 15 years in the job.
Australia set for budget rebound, signals fiscal restraint
Treasurer Jim Chalmers expected to announce cautious budget as central bank fights high inflation.
Dozens of flights cancelled at Manila airport after power outage
About 40 domestic Cebu Pacific flights cancelled in Philippines after second power outage at main gateway this year.
Chinese police question staff of US consulting firm Bain
Incident comes after police last month raided Beijing office of US due diligence firm Mintz Group and detained staff.
South Korea’s Yoon meets Elon Musk in pitch for investment
Yoon touts South Korea as an ideal country for Tesla to build a gigafactory, report says.
ChatGPT is giving therapy. A mental health revolution may be next
The prospect of AI treating mental illness is raising a myriad of ethical and practical concerns.
Indigenous Australians file rights complaint over gas projects
Traditional landowners say pension funds have obligation to prevent 'adverse human rights impacts' from energy projects.
South Korea’s economy barely avoids recession amid rocky outlook
Asia's fourth-largest economy grows 0.3 percent during first quarter amid improvements in exports and consumption.
Malaysian energy needs clash with China claims in South China Sea
Malaysian Prime Minister Anwar Ibrahim has insisted gas and oil exploration will continue despite objections by Beijing.
China approves coal surge despite emissions pledge: Greenpeace
Approvals of coal-fired power plants fuel concerns that China will backtrack on goal to become carbon neutral by 2060.
US asks South Korea not to fill chip shortfalls in China: report
South Korean President Yoon Suk-yeol is visiting the US on Monday for a summit with President Joe Biden.
G7 nations mulling near-total ban on exports to Russia: Kyodo
G7 nations reportedly discussing ban ahead of summit in Hiroshima next month.
Lachlan Murdoch drops defamation suit against Australia’s Crikey
Move comes days after Fox News agreed to pay $787.5m over false claims the 2020 election was stolen from Donald Trump.
Indonesia’s sex workers organise, fight stigma and shame
Non-profit PERKAWIS supports sex workers with education about health, financial issues and the law.
Does India have enough insurance coverage for a nuclear disaster?
India has barely half the insurance amount required for current nuclear plants, and has many more plants in the works.
China making plans to boost consumption amid demand concerns
National Development and Reform Commission says it is drafting plans to boost recovery through 'big-ticket' consumption.
Malaysia faces pension crisis after $33bn in pandemic withdrawals
Many Malaysians dipped into their pension during pandemic, but 81 percent of contributors face poverty in retirement.
IMF wants Egypt to make reforms before bailout review: Report
IMF wants Cairo to privatise state assets and allow flexibility in its currency, Bloomberg report says.