Quick news

The impact of the 2015 Asean community on jobs and employment will be discussed at a high level consultation in Bangkok this week,

The workshop, jointly organised by the International Labour Organisation (ILO) and the Asian Development Bank (ADB), will be under the theme “Asean Community 2015: Managing integration for better jobs and shared prosperity”. It will look at the impact on the region’s labour markets and how the opportunities of regional integration under the Asean Economic Community (AEC) can be managed to ensure inclusive growth and shared prosperity. 

The introduction of the AEC in 2015 will lead to free flow of goods, services, investment capital and skilled labour in an area that encompasses 600 million people and 10 member states.

The highlight of the two-day meeting will be a high-level panel on November 5, which will look at “Opportunities and Challenges of Integration for Better Jobs and Social Progress”. Discussions are expected to cover the implications of deeper Asean integration and greater trade and investment flows on the labour market, including the role of skills in driving competitiveness, the links between productivity and wages and the social and economic opportunities of labour migration. The event is also expected to be attended by government representatives, academics, and employers’ and workers’ organisations throughout Asean.

 

Air-freight demand continues to contract

Asia-Pacific carriers continued to see a weakness in air-freight demand. Freight Tonne Kilometres (FTK) fell 3.1 per cent in September compared to a year ago, deepening the contraction so far this year to 2.1 per cent, according to the International Air Transport Association (IATA). 

A positive sign for the future is that the pressure from regional economic weakness appears to be easing. In particular, China’s GDP growth has picked up slightly. Capacity grew 1.3 per cent leaving load factors at 55.5 per cent. IATA data showed that global FTK rose 0.5 per cent year-on-year in September. While this is slower that the 3.4 per cent growth recorded for August, overall air cargo volumes are at a 25-month high, and steady increases in the size of the market since April have been supported by improvements in business conditions. The slow-but-steady global growth picture is coloured by significant regional variation.

 

Laos’ leading bank partners with CyberSource

Laos’ leading bank, Banque Pour Le Commerce Exterieur Lao (BCEL), has part?nered with CyberSource to extend cross-border e-commerce offerings.

Through VisaNet solution, BCEL and its merchants will have full access to the complete range of CyberSource payment management services. This will enable it to expand business, both locally and regionally, by offering secure online payment to its merchant customers. 

BCEL is also the first acquirer in Laos to leverage CyberSource solutions to provide merchants with an easy and secure way to manage online transactions, including a scalable and secure payment gateway coupled with a market-proven fraud management solution.

“Managing risk and security are of prime importance to us as we build the trust of our merchant customers, who serve a wide clientele. The partnership with CyberSource will enable us to establish ourselves as the leading choice for merchants looking to conduct online business with domestic and overseas customers within this region. In addition, this will allow us to provide a good foundation for the growth of a secure e-commerce market in Laos and contribute to the overall growth of the country,” said Somchanh Visisombath, head of BCEL’s marketing division.