South Korean cement output slashed as truckers strike02 December 2022This week the South Korean government stepped in with a presidential executive order to force striking cement truck drivers in the country to go back to work. The dispute has gained momentum since June, when the truckers first went on strike, and is made up of some 250,000 hardliner unionised truckers from the Korean Confederation of Trade Unions (KCTU). The Cargo Truckers Solidarity Union (CTSU), which is affiliated to the KCTU, launched a nationwide protest, calling for the extension of "Safe Trucking Freight Rate (STFR)" policy beyond December 2022. The STFR policy guarantees a minimum annual wage for the truckers, most of whom are self-employed, to help them manage the surging fuel price rises and deter dangerous driving. Cement and construction sectors reel from strike actionThis week, the Korean Cement Association reported cement output totalled 22,000t on Monday, just 11 per cent of the seasonal average in the September-December peak period.
Dubai suspends alcohol levy ahead of new corporate tax rateThe Emirate of Dubai suspended the 30% levy on alcohol sales on Sunday, January 1, months ahead of the introduction of corporate tax. Meanwhile, the UAE government expects the loss of tax revenue to be offset by the introduction of a federal corporate tax regime in June. HM Revenue and Customs published its crypto tax guide in February 2022 to promote tax compliance among crypto investors. UK resident investors should pay capital gains tax when buying or selling crypto-assets and income tax when receiving payments in cryptocurrency. The European Commission aims to use the BEFIT initiative as the basis for an EU-wide corporate tax regime.26 days ago International Tax Review
Asia Pacific passengers 12 times more confident to fly in 20220 SHARESPosted: 9 November 2022 | International Airport Review |According to Inmarsat’s 2022 Passenger Experience Survey, three quarters of airline passengers in Asia Pacific feel confident about flying again, a significant rise from just six per cent in 2021. Three quarters of airline passengers in Asia Pacific (APAC) feel confident about flying again. The greater zest for travel and increasing demand for connectivity presents an opportunity for airlines to create more meaningful and compelling digital experiences for passengers beyond just inflight connectivity. “Inflight connectivity is a prime example. Four in five (80 per cent) APAC passengers also believe that Wi-Fi should be free on long-haul flights, with fewer than half (49 per cent) saying the same for short-haul flights.2 months ago International Airport Review
At times of crisis when communities can no longer rely on domestic support, people often turn to outside groups, such as non-governmental organizations (NGOs), to step up. East Asian NGOs Leaving and the Unprecedented FutureThis law has not meant that all NGOs have left—many are still trying to persevere under the plethora of new challenges such as this new law and the COVID-19 pandemic. In early 2019, the Chinese Foreign NGO Project recorded five foreign NGOs de-registering with the Ministry of Public Security Office (MPS). Out of the groups to leave, many have been East Asian NGOs that focus on providing social and economic support to China. Although a global pandemic and an ongoing invasion by Russia are unexpected challenges, they require foreign NGOs to innovate and adapt to the challenge of staying.3 months ago Harvard International Review
Furthermore, China’s 2006 creation of the Forum on China-Africa Cooperation (FOCAC) formalized Chinese development of Africa by pledging further aid. However, Chinese debt only represents “17.6 percent of total external debt payments,” showing that Zambian responses to foreign investment in general need reform. China Fulfills Zambian NeedsDespite the massive number of Chinese lenders supporting the road debt crisis, Zambia’s energy industry lacks this predatory investment. More broadly, these differences in behavior show that claims of Chinese economic imperialism cannot be generalized. Yet, the underlying causes of the debt crisis reveal the complexity of mistakes by both the Zambian and Chinese governments in regulating development.2 months ago Harvard International Review
The South Korean government has ordered cement truck drivers to end their strike and return to work, citing concerns over the threat to the nation's economy. According to the Korean Transport Ministry: as of Monday, the number of containers moving in and out of South Korean ports was 67% below normal levels. The order to return to work only applies to truckers in the cement industry so far, as it has been the sector hardest hit by the protest. Finance Minister Choo Kyung-ho reported that cement deliveries were down by more than 90%, resulting in delays at construction sites. PenaltiesTruckers who violate the return to work order will face a fine equivalent to more than US$22 000, or even up to three years in prison.2 months ago World Cement
Under various international treaties the Vietnamese government provided scholarships to 26.6% of foreign students. There were 16,000 international students in Vietnam last year, with over 80% of them coming from Laos and Cambodia. Foreign students in Vietnam primarily take short courses with those pursuing master's degrees and doctorates being somewhat rare. Tuitions for foreign students at the institution cost VND50-100 million a year. Dien says when international students come to his school from abroad, it boosts its influence and brand, important for global integration.2 months ago VnExpress International
Rescue teams and firefighters work at the scene where people were killed and injured in a crush during Halloween festivities in Seoul, South Korea, October 30, 2022. Trung, 31, is one of the survivors of the fatal Halloween stampede in Itaewon, Seoul, South Korea last Saturday, Vietnam time. It’s a favorite spot for tourists and gets crowded during Halloween, but people were still able to move around in previous years. The crowd pushed forward every 1-2 minutes and I felt like my body was in a compressor, that my bones could be crushed anytime. I have been to crowded places many times, but I have never felt so much fear before, because I couldn’t breathe.3 months ago VnExpress International