Asia First - Mon 7 Jul 2025
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CNA
an hour ago
- CNA
Thai exports in second half of 2025 expected to contract sharply over tariffs, central bank minutes show
BANGKOK :Thailand's exports are expected to contract sharply in the second half of the year due to tariffs from the United States, minutes of the Bank of Thailand's June 25 monetary policy meeting showed on Wednesday. At the meeting, the BOT's monetary policy committee voted 6 to 1 to keep the one-day repurchase rate unchanged at 1.75 per cent, after back-to-back cuts in February and April. Thai economic growth and financial conditions were held back by several factors and monetary policy alone had limited efficacy in addressing those issues, the minutes said. "Targeted measures in conjunction with business adaptation were deemed necessary," it said. At the review, the stronger-than-expected start to the year saw the BOT lift its central-case economic growth forecast to 2.3 per cent for 2025, almost matching last year's 2.5 per cent and more optimistic than some market analysts. The next rate review is on August 13.
CNA
an hour ago
- CNA
New SkillsFuture registry to boost quality of educators with regular training from next April
SINGAPORE: SkillsFuture Singapore (SSG) is aiming to level up the quality of its educators through a new national registry. The lifelong learning statutory board said these efforts are part of an initiative called the Training and Adult Educator Professional Pathway (TAEPP). The initiative is developed by the Institute for Adult Learning (IAL) with the support of SSG to improve the professionalism of the training and adult education sector. Educators delivering SSG-supported training will be required to be on the new registry from Apr 1 next year. The registration process will commence from the fourth quarter this year. The TAEPP aims to ensure those on the registry continuously upskill and improve lesson content to stay relevant. TRAINING THE TRAINERS The initiative intends to upgrade the skills of about 11,000 adult educators, according to SSG. It also allows employers across sectors to tap a stronger training ecosystem to benefit employees. '(Adult educators) are the linchpin in terms of enabling our industry to transform … The students are the adult learners. Adult learners are the ones who are working in the industry with all the changes that's happening so rapidly,' said Dr Samson Tan, director of learning and professional development at the IAL. 'A competent, current adult educator with the right skills for delivering and enabling them to perform in the workplace is important and essential.' Dr Tan told CNA that the TAEPP will shift the focus from one-off certifications for educators towards continuous professional development. The TAEPP will also recruit industry practitioners to serve as registered educators. For a start, it is identifying suitable experts in the healthcare and legal sectors. To remain on the SSG registry, educators will need to renew their status every two years through clocking at least 40 hours of continuing professional development and 80 hours of teaching. NTUC LearningHub's assistant chief executive and chief sector skills officer Tay Ee Learn said that the pathway allows training providers a broader and more sustainable access to trainers. '(It can) help us to scale our supply of training to meet (current and future) demand,' he added. Mr Tay noted that NTUC LearningHub also offers online platforms to help make training and skills upgrading more accessible to educators in fulfilling the required practice hours. A MARK OF CREDIBILITY Ms Clare Poon, who teaches weekly classes for learners seeking to become trainers, is among those who welcomed the initiative. She said that being listed in the new registry will boost her credibility as an adult educator and will help with getting more clients. 'Our work is pretty competitive, so having that recognition can be an added advantage when we look for training opportunities or project engagement,' she said. 'It is also a reminder for us to keep track of our own professional development.' Ms Poon uses a blend of lesson types – online, face-to-face classes and workplace learning – to teach her students how adults learn and how artificial intelligence can be used in lessons. She noted that trainers like herself play a role to create meaningful learning experiences and spaces for students to discuss, participate and actively engage in the learning process. INVESTING IN THE WORKFORCE Education Minister Desmond Lee noted that such efforts go a long way in preparing the workforce for the challenges ahead. 'Global trade tensions and eroding global norms are creating a lot of economic (and) job uncertainties. This can be unsettling for our businesses who will find it challenging to plan ahead,' Mr Lee said at the opening of the SkillsFuture Festival on Monday (Jul 7). He added that as technology continues to evolve, jobs and livelihoods could be transformed or disrupted. Hence, the government is committed to work with Singaporeans, industries and training providers to ensure workers remain relevant, he said. 'We must invest even more in our people, ensure that Singaporeans can adapt to change, retain our competitive advantage and remain a valuable partner to the rest of the world,' he added.
CNA
2 hours ago
- CNA
How Hong Kong's ageing population is reshaping society and its economy
HONG KONG: For retiree Cedric Lam, ageing is no excuse to slow down. Five months ago, the 66-year-old picked up airsoft shooting, an activity that demands quick reflexes and hand-eye coordination. It also gives him a chance to make new friends. 'Many experts say if you try something different and new, it will help a lot as it stimulates the brain, is good for your body and mind, and we won't regress,' said Lam, who is determined that his lifestyle will not be defined by his age. 'If you fall behind, it'll be bad, so I want to be more useful. I want to learn new things. After we retire, we still have another life, a new life to enjoy.' Hong Kong became a super aged society last year - a milestone marked by one in five residents being aged 65 or older. By 2043, this is projected to double to almost 40 per cent of the population, or one in three persons. SILVER POWER Lam said he believes that many seniors are not living up to their full potential. 'They have good health, they can work, they're still mobile. When they have good health, they should do more to stay active rather than sit idle,' he said. 'Here in Hong Kong, you see a lot of old people in the park playing chess. But there's a crowd of people doing nothing but just watching them play chess. I feel that's a waste of time.' While the demographic shift presents serious challenges including increased healthcare costs, observers said it also opens up unexpected opportunities. People aged 60 and above spent about HK$342 billion (US$43.8 billion) last year, accounting for 11 per cent of the city's gross domestic product, said officials. By 2046, that figure is projected to more than double to HK$700 billion as the silver generation becomes an even greater economic force, according to one estimate. Hong Kong is keen to tap into this silver economy - but challenges remain. Despite the growing senior population, Hong Kong's employment rate for those 65 and older remains low - just 13.6 per cent, compared to other regional economies such as Singapore, which is at 31.7 per cent. BETTER JOB MATCHING To unlock the full potential of the elderly market, boosting their employment rate is essential, said observers. 'Most of them demand for a more flexible contract, more flexible work arrangement, like working part time, working just a few hours per day and also accommodating to that lifestyle,' said Dicky Chow, head of healthcare and social innovation at think-tank Our Hong Kong Foundation. 'So we do believe that this kind of flexible work arrangement has to be put in place to improve the employment rate of elderly, to tap into their potential and boost their silver economy.' He emphasised the importance of better job matching by first understanding the skills older adults possess, and then aligning those skills with suitable job opportunities — not just restricting them to low-skilled roles. Another key challenge lies in the lack of targeted efforts by businesses to tap the growing potential of the elderly consumer market. 'A lot of times, you can understand that the business owners are very much wanting to be focused on direct returns,' said Jasmine Lee, managing partner at EY Hong Kong and Macau. 'So they've been very good at creating products and earning money from the millennials or the Z generation, from the younger people.' However, she noted that companies need to take a closer look at the preferences of people in Hong Kong, especially older citizens.
