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Lao Economic Growth Remains Below 2019 Levels, World Bank Report Reveals

That Luang Stupa in Vientiane Capital (Photo: Laotian Times)

Lao economic growth is facing continued challenges, with growth estimated to have remained below 2019 levels in 2023 and expected to stay below that mark in 2024. The World Bank highlighted various factors contributing to this trend in a report released on 29 April.

Job Title Inflation in Hong Kong: 6 in 10 expect promotion within 12 – 18 months


HONG KONG SAR – Media OutReach Newswire – 30 April 2024 – Job title inflation, a common practice in Hong Kong[1] and Greater China, has recently become a global trend. According to Robert Walters, a leading specialist professional recruitment firm, there was a 46% rise in the number of UK and Ireland job adverts that had the words “lead” or “manager” in the title throughout 2023 – but required no more than two years’ experience.

Usually employed to attract and retain talent, job title inflation however has limited success and may create problems for employers and employees alike. These are among the observations and insights from Robert Walters Hong Kong.

Employers resort to cost cutting measures amid economic uncertainty

Job title inflation is a practice where employers offer exaggerated job titles to attract and retain talent, often without the experience, skills, or salaries to match.

“Titles hold more importance in Asia, which has perpetuated this trend,” commenting on the trend, John Mullally, Managing Director of Robert Walters Hong Kong. “Over 2021-2022 the Hong Kong recruitment market was disrupted by high amounts of hiring and a lack of local market talent, which leading to organisations opting to add more titles rather than focusing on developing their employees or providing meaningful career growth.” John adds.

This trend has continued in more challenging economic times, where cost-cutting measures have become imperative, leading to departures, and downsizing at senior levels. Employers resort to offering inflated job titles to avoid paying higher wages.

Rising expectations of GenZ drive title inflation

Based on LinkedIn polls conducted by Robert Walters Hong Kong in March, 60% of young workers in Hong Kong hold high expectations for rapid career progression within a company, expecting to be promoted within 12 to 18 months, indicating that titles are still highly valued by this generation. The survey also reveals that nearly 50% of young workers consider managing a team as the most crucial factor in determining seniority.

The strategy’s effectiveness

“Inflated job titles used to be a tool used by weaker companies who struggled to retain staff”, says John. “When employees realise that these titles hold no intrinsic value or external status, they can quickly become disenfranchised, especially if their compensation package does not match up to the title.”

A survey conducted by JobSage reveals that 7 out of 10 employees say new titles won’t make them stay at a company, indicating the growing awareness towards this practice among young workers.

Moreover, the past prevalence of job title inflation has even impacted the recruitment process. The survey found that 40% of managers reported difficulty in finding suitable candidates for open positions due to confusing or overstated job titles in the recent past.

Employers urged to nurture talent for long-term success

The Robert Walters Hong Kong polls reveal that less than 30% of employers are now using senior job titles as a strategy to attract or retain employees in 2024 due to its limited success.

Robert Walters advises hiring managers to avoid inflating job titles as it may cause inefficiencies and inequality within the organisation, and result in employees leaving.

“While attracting the right talent is important, it is even more crucial to foster employee growth within the organisation. This can be achieved through initiatives such as cross-training for multiple roles or providing employees with new responsibilities,” adds John.


[1] Quarterly Report on General Household Survey by The Census and Statistics: the population of “Manager” increased 13.6% YOY in 2011 even salary remained stagnant. Up till last year, there is still a 4% increase YOY while witnessing a 5% decline in corresponding salary levels in Hong Kong.

Hashtag: #TitleInflation #SalarySurvey2024 #RobertWaltersHongKong #HongKongHiringMarket #HiringTrends


The issuer is solely responsible for the content of this announcement.

Robert Walters Hong Kong

Established in 1985, Robert Walters is one of the world’s leading specialist professional recruitment consultancies spanning 31 markets. The Hong Kong office specialises in placing high-calibre professionals on a permanent or contract basis in the following specialities: accounting & finance, construction, property & engineering, financial services, HR & business support, legal & compliance, sales & marketing, supply chain, logistics & procurement, and tech & transformation.

For more information on Robert Walters Hong Kong, please visit https://www.robertwalters.com.hk/

Chubb Promotes Kate Burke to Head of International Personal Lines, Asia Pacific


SINGAPORE – Media OutReach Newswire – 30 April 2024 – Chubb today announced that Kate Burke has been promoted to Head of International Personal Lines (IPL), Asia Pacific, effective 1 May 2024.

In this role, Burke will be responsible for strategically growing the Auto, Residential, Specialty and High Net Worth lines of business across Chubb’s Asia Pacific operations.

Burke will be based in Singapore and report directly to Ben Howell, Head of Consumer for Asia Pacific, with a matrix reporting line to John Thompson, Division President for International Personal Lines.

With more than 17 years’ industry experience, Burke spent ten years working in travel insurance across claims, customer service and business development before joining Chubb as Regional Portfolio Manager for Travel, Asia Pacific in 2017. She later moved to Chubb’s Singapore business as the Head of Travel and subsequently as Division Head of IPL. In 2021 Burke assumed her most recent position as Head of Residential, Personal Risk Solutions and Specialty Personal Lines, Asia Pacific, where she has been instrumental in driving strategic business growth and building key partnerships across the region.

On announcing Burke’s appointment, Howell said, “With a track record of leading high-performing teams, Kate’s keen customer focus and proven ability to set and execute growth strategies will help us capture significant personal lines opportunities across our Asia Pacific markets. Her appointment demonstrates Chubb’s strong pipeline of senior talent and reflects our continued commitment to developing and promoting from within the organisation.”

Hashtag: #Chubb

The issuer is solely responsible for the content of this announcement.

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 40,000 people worldwide. Additional information can be found at: .

Liverpool FC and AXA Celebrate Continued Growth of Its Successful Partnership Until 2029


LIVERPOOL, UK – Media OutReach Newswire – 30 April 2024 –

  • 2018: AXA signed as LFC’s Official Insurance Partner
  • 2019: AXA becomes principal partner and the club’s Official Training Kit Partner
  • 2020: Secures naming rights for AXA Training Centre
  • 2023: Secures naming rights for AXA Melwood Training Centre and becomes Official Global Training Partner

Liverpool FC and Official Global Training Partner AXA have agreed to a five-year extension, continuing their long-term meaningful partnership until at least 2029.

Liverpool FC and AXA Celebrate Continued Growth of Its Successful Partnership Until 2029

AXA, global insurance leader with 147,000 employees across the world, joined the LFC partner family as the club’s Official Insurance Partner in 2018. Built upon shared common values and aspirations on and off the pitch, the partnership has grown and evolved over the past several seasons with AXA demonstrating its commitment to the LFC men’s team and women’s team. As Official Global Training Partner, from the outset, AXA has been striving to support the common goal of promoting well-being, a healthy lifestyle and supporting progress.

The partnership between Liverpool and AXA has been marked by numerous milestones. AXA has proudly been featured on all Liverpool FC training kits since 2019 when it became the club’s Official Training Kit Partner. In 2020, AXA expanded its partnership to include the naming rights of a new state-of-the-art training facility – the AXA Training Centre – in Kirkby. The renewed agreement saw AXA expand its original training kit relationship to one focused more holistically on training and helped kickstart the beginning of a new chapter in the club’s illustrious history.

AXA and LFC further strengthened their partnership when the club welcomed Melwood back to the LFC family as the new home to LFC Women, officially known as the AXA Melwood Training Centre. The move back to this legendary location steeped in history opened another exciting chapter for the women’s team and girls’ academy, enabling them to continue to compete at the highest level, attracting, developing and retaining the best talent in the game.

Both state-of-the-art facilities have played a pivotal role in nurturing talent and achieving success on the pitch, further solidifying AXA’s commitment to both the women’s and men’s teams and supporting the development of football at all levels. Specifically, the AXA Melwood Training Centre embodies AXA’s dedication to empowering women in sports. In a world where female athletes often face challenges, AXA stands firm in its belief that “Being a woman shouldn’t be a risk”. The AXA Melwood Training Centre stands as a testament to this commitment, providing a secure and empowering space for the Liverpool FC Women’s team and girls’ academy to thrive.

Ben Latty, Commercial Director at LFC, said: “Partnering with global brands and developing long-term, meaningful relationships is a vital part of our commercial strategy. The naming rights of our state-of-the-art training facilities and AXA’s presence on our training kits have been instrumental in our success, and this renewal reaffirms AXA’s commitment to our men’s and women’s teams, our fans, and our communities. We are excited to see how this partnership will continue to grow and evolve.”

Virginie Berçot, Global Brand Director at AXA, said: “This marks a continuation of our proud and enduring story. We are pleased to announce the extension of our long-term commitment to the club until 2029, following our previous dedication to the women’s teams by lending our name to their new training centre seven months ago. Becoming the sole and exclusive Global Training Partner of the club is a significant milestone for us, reaffirming our strategy of a fruitful and purposeful collaboration around our brand priorities.”
Hashtag: #LiverpoolFC

The issuer is solely responsible for the content of this announcement.

ZUHYX Obtains US MSB License, Setting the Highest Compliance Standards

NEW YORK, USA – Media OutReach Newswire – 30 April 2024 – Recently, the globally leading cryptocurrency exchange ZUHYX announced that its application for the MSB financial license submitted to the FinCEN of the US Department of the Treasury has been approved, officially granting ZUHYX the MSB financial license. This approval marks a significant milestone in the compliance operations of ZUHYX and a crucial step in realizing its global compliance strategy. The US MSB license is one of the most authoritative licenses for cryptocurrency exchanges globally, allowing ZUHYX to operate its platform business in the United States while adhering to strict security and compliance standards.

The successful acquisition of the MSB license demonstrates the firm commitment of ZUHYX as an industry pioneer to the safety of global users and the development of platform compliance. The ZUHYX team stated that the platform will continue to adhere to compliance principles, continuously improve security, and enhance user experience, providing comprehensive trading support and high-quality customer service.

In the realm of ensuring user fund security and enhancing transaction transparency, obtaining the MSB license signifies that ZUHYX has met international standards in user privacy and fund security. It indicates that ZUHYX has implemented a robust internal compliance management system and risk control system, implemented strict KYC (Know Your Customer) and AML (Anti-Money Laundering) measures, and maintains close cooperation with regulatory authorities to effectively prevent the infiltration of illegal funds.

The MSB license of ZUHYX will further strengthen the compliance foundation of the platform in the North American market, laying a solid foundation for the global business development of the platform. Currently, as one of the top cryptocurrency exchanges of the world, ZUHYX, through continuous compliance operations, has increased global user trust in cryptocurrencies, adding millions of active users annually. The ZUHYX team stated that in the future, through compliance strategies, they will conduct localized operations tailored to different markets, including expanding service languages, developing new products, engaging with the community, and collaborating with institutions, aiming to maximize user experience.

The acquisition of the US MSB license marks a new development milestone for the global expansion of ZUHYX. In the future, ZUHYX will continue to adhere to international financial standards, strengthen cooperation with global regulatory authorities, ensure continuous compliance in the ever-changing global financial environment, provide a safe and reliable trading experience for global users, and drive the industry forward.
Hashtag: #ZUHYX

The issuer is solely responsible for the content of this announcement.

Japanese Yakuza Members Wanted for Murder in Thailand, Flee to Laos

Japanese Yakuza Members Wanted for Murder in Thailand, Flee to Laos
Information about the Japanese offenders, a Thai accomplice, and the victim released by Nonthaburi Provincial Police (photo: MGROnline)

Thai authorities are in pursuit of two Japanese nationals believed to be members of a prominent yakuza gang in Japan. Their involvement in the murder and dismemberment of a fellow Japanese man in Nonthaburi province, Thailand, has prompted a joint effort between Thai and Laotian officials to secure their extradition after they fled to Laos.

Rural Laos Struggles with Dwindling Water Resources Amidst Climate Change

The main river that serves as the primary water resource for Vanghuea village; however, it begins to dry up starting in December every year. (Photo: Chono Lapuekou)

BY JONATHAN MEADLEY AND CHONO LAPUEKOU

Amidst abundant water resources available in Laos, rural communities are grappling with a pressing challenge: access to clean water. 

Once abundant and clean, the water sources in Vanghuea village, Vientiane Province, have become increasingly contaminated and scarce, posing significant threats to livelihoods and exacerbating existing inequalities. As climate change intensifies, the urgency of addressing water accessibility issues in rural Laos becomes increasingly evident.

“In the past, we could cultivate rice twice a year, and the river water was clean and drinkable after boiling. However, nowadays, we can only farm rice during the rainy season, and the water is no longer clean or safe to drink, even after boiling,” said Kaoxue Yang, a resident of Vanghuea village and a university student currently studying in Vientiane Capital.

Decline in Farming Opportunities

A few years ago, villages enjoyed two farming seasons annually (December and July). However, the situation has changed, and now they rely solely on the rainy season for cultivation. This reduction in farming opportunities has led to decreased income levels, intensifying food insecurity and prompting a surge in migration to urban areas or abroad. This condition has also heightened the risk of financial instability within these rural communities.

The rice fields used to support two farming seasons, but now they’re waiting for the rainy season to plant. (Photo: Chono Lapuekou)

“This decrease in water has significantly impacted us [youth], particularly in terms of career opportunities. We often find ourselves uncertain about our future in the village as we have no idea what we can do there in the future,” said 19-year-old Lay Chu Yang. “Many of my friends have sought work abroad, in South Korea. I see that people are also moving to the city as the situation worsens in our [village] community.”

Lay Chu Yang is a second-year university student and is concerned that many of his fellow villagers aren’t aware of how serious the water shortage has become. He fears that the ongoing deforestation, slash-and-burn agriculture, and unregulated coal production might permanently affect the livelihood of rural communities.

“Together, climate change and the operation of the hydropower projects and other water infrastructure upstream and throughout the basin contribute to changing patterns of the hydrology of the Mekong River,” said Dararath Yem, Climate Change Adaptation Specialist at the Mekong River Commission (MRC) Secretariat. “Projected changes are potentially very significant and many people and communities are vulnerable to potentially wide-ranging impacts.”

Challenges in Rural Water Accessibility, Impacts of Climate Change and Development

Laos boasts abundant water resources, with the Mekong River coursing through its heartland with the basin area of the river covering 202,000 square kilometers in the country. For generations, the Mekong has sustained communities, providing essential resources for drinking, irrigation, fishing, and transportation. However, the effects of climate change are increasingly evident, with rising temperatures, erratic precipitation patterns, and the proliferation of hydropower dams threatening the delicate balance of ecosystems and livelihoods, according to the World Bank

As shown by a 2021 Joint Monitoring Programme update, while 84 percent of people in Laos have basic water services at home, only 18 percent can access a safe water supply that meets their daily needs for water, sanitation, and hygiene. 

The challenges faced by rural communities in accessing clean water are multifaceted. Ongoing deforestation and hydropower development exacerbate environmental degradation, while climate change intensifies droughts and floods, further disrupting water availability. 

In addition to the issues posed by erratic weather patterns, the Mekong River faces threats from upstream development projects, including hydropower dams that disrupt the river’s flow and ecological balance. Laos has embarked on an ambitious plan to harness the Mekong’s hydropower potential in order to become the “battery of Southeast Asia,” with numerous dams either planned or already under construction. While these projects promise to generate much-needed revenue for the impoverished nation, they also raise concerns about their long-term impact on water quality, fisheries, and the livelihoods of downstream communities.

The Nam Mang 3 Hydropower Plant water reservoir, situated upstream of Vanghuea village (Photo: Chono Lapuekou)

Kao Lao, an 80-year resident of Vanghua village, highlights the significant changes in the water situation since the construction of dams began in 2000. Water retention has become common, leading to rare flows into the village during the dry season. The river, once a vital source for drinking and washing, is now contaminated, forcing residents to purchase drinking water from a company. 

“The water situation has changed significantly between the past and the present, particularly since the construction of the dam began in 2000,” she said. “During the dry season, the main river that villagers depend on gets blocked in some places. People living nearby can still use the water, but it’s dirty and stagnant. If some houses aren’t close to the river, they’ll use a large tractor to fetch water from different spots.”

Some sections of the main river in Vanghuea village are almost dried up. (Photo: Chono Lapuekou)

Expanding on this perspective, Dararath, the Climate Change Adaptation Specialist at MRC, observed that the effects of climate change on drought conditions are influenced not solely by precipitation but also by shifts in local temperature, humidity, and other contributing factors.

“The impacts of drought in the Mekong River Basin can be severe, especially on food production and livelihoods that depend on agriculture and other natural resources. Low river flows can affect fish populations and result in larger areas of high salinity in the delta,” he said.

To address the issue, the MRC has been collaborating with regional leaders and sectors to establish strategic priorities and actions at the basin level, enhancing the commission’s role in addressing climate change risks and bolstering basin-wide resilience.

“The MRC, along with GIZ, a German development agency, has created a plan to integrate flood and drought management and early warning systems in the Lower Mekong Basin (LMB) using nature-based solutions. This project aims to improve climate observation and build capacity to respond to climate-related risks like floods and droughts, and to plan for climate change adaptation in the LMB region,” Dararath added.

Social Inequalities and Vulnerabilities

When climate-related events affect water access, minority, and marginalized groups are affected the most. This includes women and children, poor households, ethnic minorities, and people with disabilities, exacerbating existing inequalities and widening the gap between different social groups.

This accurately depicts the situation in Vanghuea village, located in the uplands of Toulakhom district, Vientiane Province, Laos, which is primarily home to Hmong communities.

Cycles of the Mekong River which were once predictable, have become a predicament for communities relying on the mighty river. Shifts in drought and rain patterns make it difficult for rural communities to decide when to start their agricultural processes.

As the pressures on the Mekong mount, the need for action becomes increasingly urgent.

Efforts to address these challenges include government initiatives to improve water supply infrastructure and sanitation services, global initiatives for freshwater conservation, and community-based water management initiatives that empower local residents to monitor and conserve water resources.

Call for Urgent Action

With the pressures on the Mekong mount, Laos’ Ministry of Public Works and Transport set ambitious goals in 2023. Their aim is to provide clean and safe water to 85 percent of urban residents by 2025, with a further increase to 90 percent by 2030. This project is anticipated to enhance capacity in the water and sanitation sector at both central and local levels, as well as among water supply enterprises. It is also expected to improve regulations and institutions related to water supply and sanitation.

“It is a challenge to meet targets,” Deputy Minister of Public Works and Transport, Vilaykham Phosalath, said when addressing a project steering committee meeting under the Water Supply and Sanitation Sector Project in August 2023.

Global initiatives such as the Kunming-Montreal Global Biodiversity Framework offer hope for freshwater conservation, while community-based approaches empower local communities to adapt to changing conditions.

Moreover, ongoing efforts aim to promote community-based water management initiatives that empower local residents to monitor and conserve water resources. Organizations like the MRC collaborate with governments and civil society groups regionally to formulate policies and practices ensuring fair water distribution while safeguarding the river’s ecological health.

“Sustainable development and water security for all basin countries could be enhanced by identifying and implementing opportunities not yet considered in national plans, including significant joint investment projects and projects of basin-wide significance, with a view to achieving a better overall outcome across sectors and between communities, including protection against major floods and droughts,” said Dararath.

Addressing reductions in crop yields due to projected increases in extreme heat during staple crop growing seasons, especially for poorer communities reliant on subsistence and rain-fed agriculture, necessitates significant adaptation efforts.

Looking at the future, as the region’s economy becomes more integrated, cooperation in water-related matters is needed from local communities to the national and regional levels to address this challenging issue. This involves enhancing resilience, adaptation, and mitigation efforts in response to climate change.

_____

This story was supported by Internews’ Earth Journalism Network.

PolyU’s Department of Health Technology and Informatics Announces Three New Master’s Degree Programs with Open Applications


HONG KONG SAR – Media OutReach Newswire – 30 April 2024 – The Department of Health Technology and Informatics (HTI) is currently introducing three new master’s degree programmes: MSc in Medical Data Science (MSc MDS), Master of Medical Imaging (MMI), and Master of Medical Laboratory Science (MMLS). The first cohorts of students for these programmes will begin their study in September 2024.

HTI is a key component of the Faculty of Health and Social Sciences at The Hong Kong Polytechnic University (PolyU). HTI has approximately 40 academic and teaching/clinical staff, 25 administrative/support personnel, 150 research students and staff, 250 postgraduate students, and 700 undergraduate students. The department specialises in two major healthcare disciplines: Medical Laboratory Science and Radiography. As a leading academic department in these professional disciplines, HTI is strongly committed to providing quality teaching and conducting impactful research. It offers academic programmes ranging from bachelor’s to PhD degrees.

HTI provides two Bachelor of Science (BSc) programmes: BSc (Hons) in Medical Laboratory Science and BSc (Hons) in Radiography. These popular programmes consistently rank within the top 5 at PolyU based on student entry qualifications. Graduates from these programmes can directly register with the respective regulatory boards of the Government and begin working in their professions immediately after graduation. HTI and its predecessors have been educating and training students in these two healthcare professions for over 45 years.

Established in 2005, HTI offers two Master of Science (MSc) programmes for graduates from its BSc programmes and other related BSc programmes: MSc in Medical Laboratory Science (MSc MLS) and MSc in Medical Imaging and Radiation Science (MSc MIRS). In 2020, HTI expanded its MSc offerings with the launch of the MSc programme in Medical Physics (MSc MP), which prepares graduates for roles as Medical Physicists in hospitals and related healthcare industries.

Medical Data Science (MDS), a new strategic area in HTI, is a multidisciplinary field that merges medicine, data science and computer science to analyse and interpret large volumes of medical data. With the rapid advancements in artificial intelligence, genomics, and biomedical fields, there is a high demand for professionals with a strong background in medical data analytics.

The MMI and MMLS programmes aim to educate and train non-healthcare BSc holders through two-year full-time studies, enabling them to register with the respective regulatory boards as Diagnostic Radiographers and Medical Laboratory Technologists, respectively. Registered professionals are in high demand in these two professions.

For details, please visit https://www.polyu.edu.hk/hti/study/programmes/taught-postgraduate-programmes_list/

Hashtag: #理工大學 #TheHongKongPolytechnicUniversity #polyu #醫療科技及資訊學系 #DepartmentofHealthTechnologyandInformatics #HTI #MasterProgramme #碩士學位課程



The issuer is solely responsible for the content of this announcement.