Government loan guarantees help SMEs access better funding
Thailand’s central bank has provided 500 billion baht in soft loans for financial institutions to re-lend to SMEs.
Hong Kong approves latest pandemic relief subsidies
The Legislative Council has approved the latest round of COVID-19 relief subsidies of HK$5.5 billion (US$709 million).
China sets sights on stabilising and expanding job market in 2021
Among the groups identified to receive further government support include university graduates, rural migrant workers and poor urban families.
South Korea focuses on job creation for 2021
One of the main aims of South Korea’s 2021 economic policy plan is to prop up the sluggish labour market.
Malaysia’s high-tech SMEs to benefit from central bank’s RM$1 billion facility
Eligible SMEs under the programme can obtain financing of up to RM$1 million for working capital.
New Zealand to raise minimum wage to NZ$20 an hour from April 1
The minimum wage hike is set to increase the incomes of some 175,500 citizens who work 40 hours per week.
India disburses US$1.8 billion in COVID-19 aid to workers
The central government has approved more than 5.2 million claims and disbursed Rs133 billion (US$1.8 billion) to formal sector workers.
Singapore has granted payouts to over 200,000 self-employed persons
Under an income relief scheme, some S$1.8 billion in contributions have been made to help those in need tide over the pandemic.
Australia proposes food-delivery levy to fund workers’ compensation scheme
A new compensation initiative aims to protect gig economy workers injured or killed while working,
Malaysia’s wage subsidies total RM$15 billion as at end-October
The nation’s wage subsidy programme aims to help businesses affected by the COVID-19 pandemic to sustain companies and lower retrenchment.
South Korea doles out COVID-19 subsidies to ‘essential workers’
Home care workers and after-school tutors will receive a payout, which will be drawn from a dedicated donations fund.
India: Delhi to launch scheme to woo startups
The Delhi government is set to launch a programme designed to attract startups to the capital city, with a 150-arce hi-tech business park to be built.
Hong Kong’s 14-week maternity leave takes effect December 11
The maternity leave pay is to be calculated at four-fifths the daily average of the wages earned by the employee.
Malaysia: New govt portal to provide seamless business registration
Prime minister Tan Sri Muhyiddin Yassin has launched MalaysiaBiz – a one-stop government portal that aims to streamline the setting up of businesses.
Australian and New Zealand businesses pressured over misuse of COVID-19 subsidies
More than 17,000 businesses in New Zealand have voluntarily repaid NZ$524 million in subsidies.
Thai commerce chamber urges extension of economic stimulus
The tourism subsidy package will run until Jan 31 next year, while a separate co-payment scheme will end on Dec 31.
Japan: Govt approves 3rd fiscal stimulus amid surge in COVID-19 cases
Japan’s cabinet has approved a third round of fiscal stimulus of about 73.6 trillion yen (US$706 billion) to deal with the economic impact from the pandemic.
SMEs can now apply for financing of up to RM$500,000: Malaysia’s central bank
The financing will have a tenure of up to 7 years, and a repayment moratorium of at least 6 months.
Japan to extend jobs subsidy until February 2021
The subsidy scheme covers part of leave allowances firms pay to furloughed workers, subsidising up to ¥15,000 (US$144) per day.
Singapore civil servants will not get year-end bonus, some in private sector following suit
The Public Service Division (PSD) has announced that civil servants will not get any year-end bonus.
New Zealand urged to increase minimum wage
Lifting minimum wages has an inequality reducing effect, although there may be adverse company-level impacts in the short-term.
Indonesia, Singapore and Thailand expect highest wage rise in APAC for 2021
The top 10 countries expected to see the largest real salary increase are from the Asia-Pacific region.
Japan: Third stimulus package to be announced in early December
The third supplementary budget is expected to be more than 20 trillion yen (US$192 billion), and include measures to help small businesses.
COVID-19 subsidy only for workers in Hong Kong without paid sick leave
The HK$5,000 (US$645) handout will only cover residents such as freelancers, taxi drivers, and the self-employed.
Wage gap between high school and university grads in South Korea smaller in larger firms
University grads working in big firms take home an average of US$29,744 annually.
CHRO Online Malaysia examines leadership priorities in 2021
Thought leaders like Jason Averbook and Josh Bersin will join speakers from ADP and Microsoft in discussing some of the key challenges facing leaders .
India: Govt’s new round of stimulus to boost economy further
The government has announced another Rs1.2 lakh crore (USD$16.1 billion) to stimulate the economy, focusing on job creation and private businesses.
Japan rises out of recession, but winter bonus down
While the economy continues to recover, bonuses for public servants is expected to be lowered for the first time in a decade.
45.2% of workers in South Korea can take off days whenever they want: Survey
This ratio is lower among female, non-regular, and low-income workers.
Australia’s tax cuts to kick in from Nov 16
The tax relief package is expected to benefit over 11 million Australians. as the country attempts to recover from the pandemic.