SINGAPORE (Feb 4): “This is my first time at Davos and I find it quite a bewildering experience to be honest. I mean, 1,500 private jets have flown in to hear [Sir] David Attenborough speak about how we’re wrecking the planet.” — Dutch historian Rutger Bregman, at the recent World Economic Forum in Davos, Switzerland, in which climate change was widely discussed.
Theresa May caught in Brexit stalemate
British Prime Minister Theresa May is facing another week of a Brexit stalemate, caught between her uncompromising peers in Parliament and an unyielding Brussels.
As she faces intense, mounting pressure to come up with the proposed changes to her Brexit withdrawal agreement, she simultaneously has to contend with a sceptical EU, which has hinted many times it will not accept changes to the agreement, especially pertaining to the much-debated Irish backstop.
The EU’s chief Brexit negotiator, Michel Barnier, on Jan 30 even insisted: “Calmly, I will say, right here and now, we need this backstop as it is”, while European Council president Donald Tusk warned May that a precondition for any further talks was a concrete plan from Downing Street that could clearly command the support of Parliament.
This comes just after May won the backing of the House on Jan 29 for an attempt to return to Brussels to unpick the backstop her own government negotiated and replace it with unspecified “alternative arrangements”.
China falls out of love with Apple’s iPhone
Technology giant Apple posted a drop in revenue on the back of poorer buying power in China and a slowdown of sales of its flagship iPhone.
Apple’s revenue dropped 4.5% y-o-y to US$84.31 billion ($113.4 billion) at end-2018, with its iPhone sales falling by 15% that same quarter. Competition from other phonemakers such as Xiaomi and Huawei has caused iPhone sales to drop, especially in the China market, which is Apple’s second largest market after the US. Sales of the iPhone, which accounts for two-thirds of total revenue, fell to US$51.98 billion from US$61.1 billion in 2017.
Apple’s sales in China started to fall in 2016, and it never truly recovered. As more and more affordable feature-rich options for smartphones flood the market, consumers are less willing to pay for the iPhone, which has a starting price of around US$1,000 (without a contract).
US lawmakers seek end to immigration impasse
US lawmakers are seeking to end the immigration impasse and avoid another partial government shutdown as they indicate flexibility in negotiations with President Donald Trump.
House Democrats have revealed their opening offer in coming talks with Trump, proposing a tightening of security along the border with investments in technology and staffing, but still rejecting the “wall” that Trump intends to build.
The negotiations must come to an end in the next few weeks, a deal must be struck with the Homeland Security Department for funding, and Trump must sign it or risk a second partial government shutdown.
More than 800,000 federal employees had worked without pay for 35 days until Trump finally agreed to end the shutdown on Jan 25, which was caused by disagreements about his much-demanded border wall between the US and Mexico.
Incomes rose at slower pace in 2018: MOM
Even as the labour market has improved overall, income growth has risen at a slower pace than 2017, the Ministry of Manpower (MOM) revealed on Jan 31.
Retrenchments are at a six-year low, with 11,020 workers retrenched in 2018, down from 14,720 in 2017. The annual average unemployment rate is also lower, at 2.1% in 2018, from 2.2% in 2017. However, the real median income rose only 3.3% as at June 2018, compared with 5.9% in 2017.
The MOM noted in its report that year-on-year income changes are prone to fluctuations because data is captured from a sample survey, and that over the last five years, real median income growth was an average of 3.6% per year.
Committee of Inquiry to look into death of NS serviceman
A Committee of Inquiry (COI) was convened on Jan 25 to look into the circumstances leading to the death of national serviceman and actor Aloysius Pang while he was on reservist duty.
The Defence Ministry announced on Jan 30 that its minister, Ng Eng Hen, will also deliver a statement addressing recent National Service training deaths when Parliament next sits on Feb 11.
The ministry did not name the members of the independent COI, but said they comprise a consultant medical specialist, a member of the External Review Panel on Singapore Armed Forces Safety (ERPSS), a member of the Workplace Safety and Health Council, and a senior-ranked national serviceman. None of the members work for Mindef or are SAF regulars.
Pang was undertaking repair work inside a Singapore SelfPropelled Howitzer during an annual live firing exercise in New Zealand on Jan 19. He sustained an injury during the exercise, which led to his death on Jan 23.
To cancel, or not to cancel
Malaysia’s proposed East Coast Rail Line (ECRL) project has not been cancelled, as “no final decision has been made”, Malaysian Prime Minister Dr Mahathir Mohamad has confirmed amidst conflicting statements on whether the China-backed mega project will proceed.
At his party’s meeting on Jan 29, Mahathir said Malaysia was still negotiating the deal, which was estimated to cost RM81 billion ($27 billion). Earlier on that same day, he had said the project would “impoverish the country for 30 years”.
He was responding to reports of contradictory statements by Economic Affairs Minister Azmin Ali, who announced on Jan 26 that the project was cancelled, much to the surprise of his colleagues.
Subsequently, Finance Minister Lim Guan Eng clarified that the government was still in talks with China over the cost of the project.
The ECRL was supposed to be a massive project to bring economic development to West Malaysia’s east coast states, connecting them to the west coast and central region.
