Boeing slashes DEI department in latest staff shake-up

Boeing slashes DEI department in latest staff shake-up. Machinists also set to vote on contract proposal delivering 38% wage increase over 4 years Boeing dismantled its global diversity, equity and inclusion department on Thursday, according to a report by Bloomberg citing sources familiar with the matter. The report stated that staff from Boeing’s DEI office will be combined with another [...]

03/11/2024

AI technology helps fleet managers detect drowsy drivers

AI technology helps fleet managers detect drowsy drivers. Half of all truck drivers fall asleep at the wheel, report says Drowsiness while driving is a critical risk, contributing to thousands of crashes and hundreds of deaths each year, with drowsy drivers being three times more likely to cause accidents. To mitigate these scenarios fleet managers have turned to artificial intelligence [...]

03/11/2024

How global trade actors are turning to fintech to tackle fraud

How global trade actors are turning to fintech to tackle fraud. Cross-border payments generally are slow and lack transparency   With billions of dollars processed every day, cross-border trade payments have become increasingly complex. Companies must navigate a range of banks, clearinghouses and payment processors, all of which assess fees and contribute to potential delays. Traditionally, cross-border payments are slow, [...]

03/11/2024

Synergy and Grace Ocean agree to pay the US $102m in first of many Dali legal cases

Synergy and Grace Ocean agree to pay the US $102m in first of many Dali legal cases The Justice Department announced yesterday that Grace Ocean and Synergy Marine, the Singaporean corporations that owned and operated the Dali containership, have agreed to pay $102m to resolve a civil claim brought by the US five weeks ago for costs borne in responding [...]

27/10/2024

Indian steel giant JSW eyes container manufacturing

Indian steel giant JSW eyes container manufacturing One of India’s largest conglomerates, JSW Group, is looking to enter the container manufacturing space. The Sajjan Jindal-led company, which is involved in steel, ports, energy, infrastructure, cement, automotive and paints, has hired consultants to identify the market potential to enter a sector that is currently heavily dominated by the Chinese. The move [...]

27/10/2024

Chinese car parts maker moves into shipbuilding

Chinese car parts maker moves into shipbuilding Chinese car parts manufacturer Xingmin Intelligent Transportation Systems (Xingmin ITS) is expanding into the shipbuilding business by acquiring a 30% stake in Zhejiang East Coast Shipbuilding. The Shenzhen-listed company, which mainly produces steel wheels for cars and trucks, is paying RMB360m ($50.5m) for its move on the subsidiary of Yangfan Group, which also [...]

27/10/2024

Govt to expand scope of SST, to include fee-based financial services

Malaysian Employers Federation warns against using RM1,700 minimum wage as pay ceiling KUALA LUMPUR (Oct 18): The Malaysian Employers Federation (MEF) has cautioned employers against using the revised minimum wage policy of RM1,700 as an excuse to offer only the base pay to their workers. MEF president Datuk Dr Syed Hussain Syed Husman said in a statement on Friday following [...]

20/10/2024

New carbon tax tackles environmental concerns, but needs clarity on implementation — tax consultants

New carbon tax tackles environmental concerns, but needs clarity on implementation — tax consultants KUALA LUMPUR (Oct 18): The proposed introduction of the carbon tax in 2026 on the steel, iron and energy industries addresses environmental concerns, collectively creating a more robust and equitable tax system and supporting long-term economic and environmental goals. PricewaterhouseCoopers (PwC) Malaysia tax leader Steve Chia [...]

20/10/2024

Highlights of Budget 2025

Highlights of Budget 2025 Macroeconomic outlook GDP will expand between 4.5% and 5.5% for 2025 GDP growth for 2024 revised to 4.8%-5.3% from 4%-5% Government finances Fiscal deficit, as a percentage of GDP, to come in at 3.8% in 2025 against 4.3% in 2024 Budget 2025 totals RM421 billion versus RM407.5 billion under revised Budget 2024 A total of RM335 [...]

20/10/2024

Container freight rate plunge set to continue

Container freight rate plunge set to continue Container spot freight rates remain significantly higher than last year, but they are still falling fast from this year’s highs as threats of disruption and port congestion reduce.   Drewry’s composite World Container Index (WCI) declined by 4% for global rates, but the Asia to Europe and China to US West Coast rates [...]

14/10/2024

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