Malaysian facilities that test and produce semi-conductors are celebrating the re-opening of the nation’s economy
Companies such as Toyota, Ford and Skoda are have been hit hard by factory closures and staff shortages.
It follows a Covid-19 surge in Malaysia, which has claimed the lives of nearly 20,000 people.
The semi-conductor industry makes up about 6.8 per cent of Malaysia’s GDP and employs over 500,000 workers.
Malaysia accounts for seven percent of the semiconductor trade and 13 per cent of the global testing and packaging capacity around the world.
But bottle-necks in supply have impacted carmakers and companies around the world
Malaysia’s little-known but crucial role in the semiconductor industry came into focus in recent months as these top carmakers drastically reduced production targets citing pandemic-induced bottlenecks in Malaysia and neighbouring Thailand.
Could the US be the answer to saving the chip industry?
As the race to combat the global chip shortage continues the Biden administration is big to end the crisis
US President Joe Biden is preparing to spend $52 billion to boost the worsening shortage of semiconductor chips.
The White House is still waiting for congressional approval on the big spend but is pushing ahead with plans of how to invest the money wisely.
The Commerce Secretary says America “needs to incentivise the manufacturing of chips” if the country wants the crisis to end.
President Biden continues to be vocal on the global issue.
Real reason bosses want employers back in the office
As the world gradually recovers from the pandemic, employers are increasingly pushing for their staff to return to the office after years of remote work.
The driving force behind this push is the sharp decline in commercial property values, which has left many businesses concerned about their real estate investments.
Commercial property values have plunged in the wake of the pandemic, with many companies downsizing or reconsidering their office space needs.
This has put pressure on employers to reevaluate their remote work policies and encourage employees to return to the office. #featured
Businesses cash in on Black Friday sales
Black Friday, the annual shopping frenzy, has become a global phenomenon rooted in economic strategies.
Retailers deploy various tactics to lure consumers, creating a win-win scenario for both shoppers and businesses.
The concept of Black Friday traces its roots to the United States, where it marks the beginning of the holiday shopping season. Retailers offer significant discounts on a wide range of products to attract a massive customer influx. This strategy, known as loss leader pricing, involves selling a few products at a loss to entice customers into stores, hoping they will buy other items at regular prices.
Retailers also employ the scarcity principle by advertising limited-time offers and doorbuster deals. This sense of urgency compels consumers to make quick decisions, boosting sales.
Furthermore, online shopping has revolutionized Black Friday economics. E-commerce giants use data analytics to customize deals, targeting individual preferences. Cyber Monday, the digital counterpart to Black Friday, capitalizes on the convenience of online shopping. #featured
Australian inflation figure finally starts with a 4
Australia’s October inflation figures have surprised economists, as consumer prices rose at a slower pace than anticipated.
This slowdown was primarily attributed to a significant drop in goods prices, contributing to the nation’s subdued economic climate.
The Consumer Price Index (CPI) for October indicated a modest 0.4% increase, falling short of the 0.7% forecasted by analysts. On an annual basis, inflation stood at 2.1%, below the Reserve Bank of Australia’s target range of 2-3%. This unexpected deceleration is likely to affect the country’s monetary policy decisions in the near future.
Goods prices, including essential items like fuel and food, recorded a notable decrease of 0.8%, mainly due to supply chain disruptions and global economic uncertainties. Meanwhile, services prices continued to rise, albeit at a slower rate, driven by higher wages in some sectors.
This unexpected dip in inflation raises questions about the overall health of the Australian economy and the central bank’s strategies to combat it. Policymakers now face the challenge of balancing economic growth with the need to manage inflation effectively. #ticker today #featured
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