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25 % hike of minimum wage mulled over the next two years

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Prime Minister Abhisit Vejjajiva will announce a policy today to boost minimum wages by 25 per cent over the next two years, if his party is re-elected to office.The pledge will be made during a speech he will give to mark Labour Day.

A 25-per-cent hike would mean the minimum wage in Bangkok would rise to more than Bt250 per day from the current Bt216.”The premier has ordered Labour Minister Chalermchai Sri-on to inform the tripartite central committee on wages to implement this policy at their next meeting,” said Buranat Samutarak, the Democrat Party spokesman.

via Abhisit to announce wage-hike plan today.

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Economics

Stable outlook for APAC sovereigns as growth rebounds and debt stabilizes

Economic growth rates in Asia-Pacific are broadly rebounding and debt burdens stabilizing, giving rise to a stable outlook for sovereign creditworthiness in 2022. Still, the pace of recovery differs vastly, and some economies will experience deep economic scarring, according to a new report by Moody’s Investors Service.

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moodys flare

Economic growth rates in Asia-Pacific are broadly rebounding and debt burdens stabilizing, giving rise to a stable outlook for sovereign creditworthiness in 2022. Still, the pace of recovery differs vastly, and some economies will experience deep economic scarring, according to a new report by Moody’s Investors Service.

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Business

China’s economy stumbles on power crunch

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Chinas economy stumbles on power crunch property woes

BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks and major wobbles in the property market and raising pressure on policymakers to do more to prop up the faltering recovery.

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