Organizations risk losing employees as household budget needs are prioritized The challenging financial circumstances faced by many Australians have led to increased job search behaviour, with employees seeking better pay packets to address their household budget needs. Despite a slight decrease in business confidence and consistent employee perceptions of job availability, active job searches increased by 2 per cent during the first quarter of 2023. Work-life balance has become the top factor employees consider when looking for a job, surpassing location, while compensation remains a key con ..read more

EDB and IMDA supporting digital economy and sustainability goals Singapore’s Economic Development Board (EDB) and Infocomm Media Development Authority (IMDA) have announced the awarding of approximately 80 MW of new capacity to four data centre operators through the pilot Data Centre – Call for Application (DC-CFA) exercise. This move is part of Singapore’s commitment to enable the growth of data centres (DCs) to support the digital economy while prioritizing sustainability and climate change commitments. The pilot DC-CFA exercise aimed to facilitate the sustainable building of new data centr ..read more

This ruling calls for congressional clarity In a significant legal victory, Ripple Labs, the company behind the XRP cryptocurrency, has emerged triumphant in its case against the US Securities and Exchange Commission (SEC). The ruling, which states that the open market sales of XRP do not qualify as a security, carries implications that extend beyond Ripple itself and could reshape the regulatory landscape for cryptocurrencies in the United States. According to the recent Electronic System Design (ESD) Alliance report, evolving consumer expectations are reshaping the needs and economics of th ..read more

Unveiling new investment initiatives for sustainable growth The tenth Mongolia Economic Forum (MEF) is in full swing, attracting 2,200 global guests including business leaders, representatives from multilateral organizations, and members of the third sector. Held from July 9-10, the event aims to explore collaborative opportunities with the Mongolian Government to achieve its ambitious economic goals. Against the backdrop of an upgraded economic growth forecast for 2023, the government has made significant announcements, including the establishment of new investment bodies and partnerships wi ..read more

Top 25 global banks experience a 3.8 per cent increase indicating market recovery The aggregate market capitalization (MCap) of the top 25 global banks has witnessed a growth of 3.8 per cent to reach $US3.3 trillion during the second quarter (Q2) ended on 30 June 2023, according to GlobalData, a leading data analytics and research company. This increase in MCap suggests a potential recovery in the markets and a positive indication of inflation being brought under control. Murthy Grandhi, Company Profiles Analyst at GlobalData, explains that investors viewed the Federal Reserve’s decision to p ..read more

Lack of transparency and consumer awareness prompts ACCC’s investigation The Australian Competition and Consumer Commission (ACCC) has opened a call for submissions from consumers, businesses, and interested stakeholders regarding data broker services in Australia. This initiative is part of the ACCC’s ongoing five-year digital platform services inquiry, which aims to examine the practices of data brokers and the products and services they offer. The focus of the inquiry is on potential competition and consumer issues arising from the supply of data broker services. In an issues paper publish ..read more

Addressing increasing cyber threats in Australian financial services In the face of rising cybercrime rates and increasingly sophisticated criminal attacks, some of the world’s largest brands, including those in Australia, have fallen victim to major data breaches in recent years. Recognizing the need to strengthen cyber resilience in the financial services sector, the Australian Prudential Regulation Authority (APRA) has undertaken an extensive study to address compliance gaps and raise the bar for cyber security in the industry. As part of APRA’s 2020-2024 Cyber Security Strategy, over 300 ..read more

GenAI poised to enhance efficiency, patient outcomes, and personalized care GlobalData, a leading data and analytics company, asserts that the adoption of generative artificial intelligence (genAI) in the pharmaceutical and healthcare sectors holds immense potential to address challenges related to high costs and poor patient experiences, while simultaneously enhancing efficiency and patient outcomes. With the increasing focus on data-driven healthcare, genAI is set to transform the industry significantly. Kiran Raj, Practice Head of Disruptive Tech at GlobalData, emphasizes the revolutionary ..read more

M&A, private equity, and venture financing deals all experience year-on-year decline The first half of 2023 saw a significant decline in global deal activity, with a total of 28,151 deals (including mergers & acquisitions (M&A), private equity, and venture financing deals) announced, marking a 23.7 per cent decrease compared to the 36,873 deals announced during the same period in 2022, according to leading data and analytics company GlobalData. An analysis of GlobalData’s Financial Deals Database reveals that all deal types experienced a year-on-year decline during H1 2023. The nu ..read more

Focusing on renewable energy and smart grid solutions BrightSource Energy, Inc. (BSE), a global leader in concentrated solar thermal power (CSP) technology, has announced the spin-off of its Israeli, UK, and South African subsidiaries, paving the way for the formation of New BrightSource Energy LTD (New BrightSource). Under the leadership of Izik Kirshenbaum and Israeli and UK management, New BrightSource aims to capitalize on the renewable energy market, battery storage management, and AI-based smart grid solutions. As part of the spin-off, BSE has been renamed Kelvin Energy Inc. (KE) and ha ..read more