The Government today (January 24) gazetted the United Nations Sanctions (Yemen) Regulation 2019 (Amendment) Regulation 2025 (the Amendment Regulation), which came into operation today. ”The Amendment Regulation amends the United Nations Sanctions (Yemen) Regulation 2019 to give effect to certain decisions relating to sanctions in the United Nations Security Council (UNSC) Resolution 2758 in respect of Yemen,” a Government spokesman said. The amendments renew the financial sanctions and travel ban. The Hong Kong Special Administrative Region Government has all along been implementing fully the sanctions imposed by the UNSC. The Amendment Regulation aims to give effect to the instructions by the Ministry of Foreign Affairs for fulfilling the international obligations of the People’s Republic of China as a Member State of the United Nations.
Source: Hong Kong Government special administrative region
Proposed construction of lift and pedestrian walkway system between Lau Sin Street and Tin Hau Temple Road gazetted Proposed construction of lift and pedestrian walkway system between Lau Sin Street and Tin Hau Temple Road gazetted ******************************************************************************************
The Government gazetted today (January 24) the proposed construction of a lift and pedestrian walkway system linking Lau Sin Street and Tin Hau Temple Road, Tin Hau, to provide a convenient, comfortable and barrier-free pedestrian link between Tin Hau Temple Road and the MTR Tin Hau Station as well as the public transport interchange at King’s Road. Details of the proposal are set out in the Annex. The plan and scheme of the works are available for public inspection at the following government offices during office hours:Central and Western Home Affairs Enquiry Centre,G/F, Harbour Building,38 Pier Road, Central, Hong KongWan Chai Home Affairs Enquiry Centre,G/F, 2 O’Brien Road, Wan Chai, Hong KongDistrict Lands Office, Hong Kong East,19/F, Southorn Centre,130 Hennessy Road, Wan Chai, Hong Kong The gazette notice, scheme, plan and location plan are available at www.tlb.gov.hk/eng/publications/transport/gazette/gazette.html. Any person who wishes to object to the works or the use, or both, is required to address to the Secretary for Transport and Logistics an objection in writing, which can be submitted via the following means:
By post or by hand to the Transport and Logistics Bureau’s Drop-in Box No. 6 located at the entrance on 2/F, East Wing, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong. The box is available for use between 8am and 7pm from Monday to Friday (except public holidays); By fax to 2868 4643; or By email to gazettetlb@tlb.gov.hk.
A notice of objection should describe the objector’s interest and the manner in which he or she alleges that he or she will be affected by the works or the use. Objectors are requested to provide contact details to facilitate communication. A notice of objection should be delivered to the Secretary for Transport and Logistics not later than March 25, 2025.
Source: Hong Kong Government special administrative region
​The Hong Kong Economic and Trade Office (Toronto) (Toronto ETO) welcomed over 120 guests and friends to celebrate the Year of the Snake together at a spring reception jointly hosted with the Hong Kong Tourism Board (Canada) (HKTB) on January 23 (Toronto time) in Toronto. Business, cultural, academia and community partners came together and learned about the latest developments of Hong Kong on its economic and cultural fronts.
In her welcoming speech at the reception, the Director of the Toronto ETO, Ms Emily Mo, said that Hong Kong achieved a series of encouraging results in 2024.
“We shone brightly on the world stage,” she said. “Hong Kong is recognised as the world’s freest economy and the third-largest international financial centre. It has risen two places to fifth in world competitiveness, and re-entered the top 10 for talent competitiveness. The city continues to maintain the world’s top position in investment environment, international trade, business legislation, and air freight volume.”
The International Monetary Fund Executive Board just published a Staff Report today acknowledging Hong Kong’s economic recovery and resilient financial system. The Report recognised that Hong Kong’s economy is on a path of gradual recovery, reaffirmed Hong Kong’s status and function as an international financial centre and recognised that Hong Kong’s financial system remains resilient, supported by robust institutional frameworks, ample room for policy buffers, and the smooth functioning of the Linked Exchange Rate System.
Looking ahead to the Year of the Snake, Ms Mo added that Hong Kong will better leverage its unique advantages under the “one country, two systems” arrangement. The city will continue to be a “super-connector” and “super value-adder,” bridging traditional and emerging markets and creating opportunities for global investors, including Canadian businesses.
At the reception, the Senior Manager of Marketing and Public Relations of the HKTB, Mr Jorge Lee, shared with participants the HKTB’s achievements in 2024 and tourism publicity initiatives in 2025.
“In 2024, Hong Kong welcomed almost 45 million travellers, with 1.2 million visitors from North America. For our Canada market, over 320,000 Canadians visited Hong Kong last year, reflecting an impressive year-on-year growth rate of nearly 50 per cent. We introduced unique offerings centred around iconic events with our trade partners, bringing Canadians closer to Hong Kong’s vibrant culture. To our trade partners, we extend our deepest gratitude to and appreciation for their continued collaboration.
“In the coming years, visitors to Hong Kong can expect a vibrant and evolving destination that seamlessly blends its ‘East-meets-West’ cultural identity with sustainable tourism initiatives. Hong Kong will continue to showcase distinctive experiences by integrating culture, art, sports, nature, and mega events, appealing to diverse interests.”
This year, the Toronto ETO invited internationally renowned Hong Kong sand artist Hoi Chiu to showcase his skills at the spring reception. Through sand and his exquisite technique, the artist told the traditional story of the Lunar New Year. His performance was a perfect fusion of skill, art, and storytelling, drawing the audience into an engaging narrative world.
In closing, Ms Mo invited the guests to visit Hong Kong to experience its unique East-meets-West culture and seize the tremendous opportunities presented by Asia’s world city.
The Toronto ETO and the HKTB will jointly host a spring reception in Vancouver on January 28, celebrating the Lunar New Year with local guests and friends.
Source: Hong Kong Government special administrative region
Tender period extended for electrical and mechanical works and construction of biological treatment building for Hung Shui Kiu Effluent Polishing Plant Phase 1 Tender period extended for electrical and mechanical works and construction of biological treatment building for Hung Shui Kiu Effluent Polishing Plant Phase 1 ******************************************************************************************
The Drainage Services Department (DSD) today (January 24) announced that the tender period for the contract for the Hung Shui Kiu Effluent Polishing Plant Phase 1 – E&M Works and Biological Treatment Building (Contract No. DE/2024/09) has been extended to noon on March 7. The DSD invited tenders for the contract on November 29, 2024. The tender period was originally scheduled to expire at noon on February 7, 2025. The extension of the tender period was gazetted today. Details of the tender notice are available on the DSD website (www.dsd.gov.hk/EN/Tender_Notices/Current_Tenders/index.html). The DSD has commissioned AECOM Asia Company Limited to design and supervise the works. For enquiries, please contact the company (tel: 3922 9000; fax: 3922 9797; email address: desmond.ng@aecom.com) during office hours.
This report examines business-as-usual and low-carbon scenarios for Bangladesh at the national level and Dhaka at the city level. It outlines the technologies, efficiency measures, and investment costs associated with the low-carbon transition in the country for 2025¬–2050.
Source: Hong Kong Government special administrative region
The Department of Health (DH) announced today (January 24) that the North District Maternal and Child Health Centre (MCHC) will come into operation next Monday (January 27), making it the second MCHC in the district and strengthening health services for children and women.
“The new MCHC will be located on the seventh floor of the North District Community Health Centre Building at 3 Wai Wo Street, Sheung Shui. Its service hours are from 9am to 1pm and 2pm to 5.30pm from Monday to Friday, and from 9am to noon on the second and fourth Saturdays of each month that are not public holidays. Its services include child health service, cervical screening service and postnatal service. The DH has already contacted people who have made appointments for services at the North District MCHC to remind them of the appointment time and the address,” the DH spokesman said.
The DH’s MCHCs provide health promotion and disease prevention services for children from birth to five years and women at or below 64 years of age.
Together with the North District MCHC, there are 29 MCHCs in operation in the 18 districts throughout Hong Kong. For more information, please visit the DH’s website.
Source: Hong Kong Government special administrative region
With Chinese New Year around the corner, the Labour Department has urged contractors, employers and employees to be more vigilant and take adequate safety precautions at workplaces before the holidays.
A spokesperson for the department said today (January 24) that employers and employees should pay more attention to work safety before the Chinese New Year holidays to prevent accidents.
The spokesperson said, “As Chinese New Year is coming, employees may become less aware of work safety due to the festive atmosphere or may have to rush to complete work before the holidays. Employers should therefore step up monitoring to ensure workplace safety and eliminate potential hazards through pre-holiday safety inspections, thereby minimising the chance of grave consequences during and after the Chinese New Year holidays. Safety precautions before the holidays include turning off the power for plant and machinery, proper storage of chemicals, stacking materials in an orderly manner, extinguishing naked flames, shutting down gas welding equipment, and securing temporary structures.”
“Management should remind supervisors and employees not to compromise work safety for tight work schedules, including failure to take adequate safety precautions, failure to follow safety procedures, and failure to use personal protective equipment. Risk assessment should be conducted by competent persons prior to the commencement of different work processes, with safe work method statements formulated and proper monitoring systems in place, especially for work involving high-risk operations, such as working at height, lifting operations, tunnelling work, and electrical work,” the spokesperson added.
The general duty provisions of the Occupational Safety and Health Ordinance require employers to provide safe working environments, plant and systems of work for their employees. Those who contravene the relevant provisions are liable to a maximum fine of $10 million and imprisonment for two years.
Meanwhile, employees should co-operate by following safety instructions and using safety equipment.
For enquiries on occupational safety and health, please contact the department’s occupational safety officers at 2559 2297.
Only qualifications and programmes at Levels 3 and above on the New Zealand Qualifications and Credentials Framework (NZQCF) are eligible. Eligible qualifications and programmes must be recognised by the New Zealand Qualifications Authority (NZQA) or Universities New Zealand and funded by the Tertiary Education Commission (TEC) from:
the Delivery at Levels 3–7 (non-degree) on the NZQCF and all industry training Fund (DQ3-7), or the Delivery at Levels 7 (degree) to 10 on the NZQCF Fund (DQ7-10), or grants under section 556 of the Education and Training Act 2020 for tertiary provision towards a qualification on the NZQCF at Levels 3 or above.
Provider-based qualifications Eligible provider-based qualifications are TEC-funded and are equal to or greater than 0.5 equivalent full-time students (EFTS). Work-based programmes Eligible work-based programmes are TEC-funded programmes comprising at least 120 credits. Qualifications and programmes that are not eligible for final-year Fees Free The following are not eligible for final-year Fees Free:
School learning programmes and secondary tertiary programmes Certificates of proficiency Pathway qualifications Zero fee programmes Programmes where fees are met under another funding arrangement, such as the Youth Guarantee (YG) Fund, Māori and Pasifika Trades Training (MPTT), or the Refugee English Fund Qualifications and programmes at Levels 1 or 2 on the NZQCF Provider-based qualifications that are less than 0.5 EFTS, or work-based programmes that are less than 120 credits.
Pathway qualifications Pathway qualifications are qualifications that prepare learners to progress into further study and training by supporting them to meet minimum entry requirements and/or develop the required skills for higher study. For the purposes of final-year Fees Free:
This includes bridging qualifications, Certificates of University Preparation, Certificates in Study and Employment Pathways, and Level 3 Study and Career Preparation (except when primarily intended for career preparation). This does not include qualifications that are used for staircasing, or programmes that comprise part of, or are cross-credited towards a higher qualification.
Any qualification confirmed as a pathway qualification will be excluded for all learners. The exclusion is not able to take into account individual learner intentions. You can view the list of pathway qualifications that are excluded from Fees Free: Pathway qualifications (XLSX 15 KB) To request to add or remove a qualification from the list of pathway qualifications excluded from Fees Free, contact customerservice@tec.govt.nz with the subject: (EDUMIS number) Final-year Fees Free – pathway qualifications. Please briefly outline how the qualification you wish to add/remove from the list does/doesn’t meet the definition of a pathway qualification. Qualification completion date The date the learner completes their eligible provider-based qualification or work-based programme is defined as the date the requirements have been met by the learner to be awarded the qualification. This should align with what is recorded on the learner’s New Zealand Record of Achievement. For provider-based study, TEOs will be required to submit the qualification completion date as part of their SDR submission from August 2025. TEOs already report work-based programme completion dates to NZQA, which NZQA provide to TEC. Qualification and programme eligibility FAQs Why must provider-based qualifications comprise at least 0.5 EFTS and work-based programmes at least 120 credits to be eligible? Setting a minimum threshold mitigates the risk of learners using their Fees Free entitlement on small pieces of study or training. For example, a learner will not be able to inadvertently consume their entitlement on a very short programme of 0.2 EFTS. Setting the eligibility criteria for provider-based qualifications at 0.5 EFTS or greater means that the large number of learners who complete qualifications at this level, and don’t go on to do further study or training, can access final-year Fees Free. A work-based programme minimum of 120 credits gives assurance that the training programme has career benefit to the learner. It reduces the risk that learners will use up their Fees Free entitlement on short training programmes directed by (and often entirely paid for by) their employers, or that employers will shift training costs onto learners. Why aren’t Level 1 and 2 qualifications covered by Fees Free? The Fees Free policy aligns eligibility with student support and government tuition subsidies. Foundation programmes and qualifications (at NZQCF Levels 1 and 2) are excluded because provider-based Level 1 and 2 study is already fees-free, and learners shouldn’t have to use their Fees Free entitlement on courses and programmes intended to prepare them for tertiary education at Levels 3 and above. Why do programmes and courses have to be recognised and funded to be available for Fees Free? Fees Free was designed to help New Zealanders access high-quality tertiary education that provides skills for life and work. When a course or programme is both recognised by the NZQA or Universities New Zealand, and funded by the TEC, it means the course is of a high educational standard. Are private training establishment (PTE) courses covered by Fees Free? Yes, as long as the provider-based qualification or work-based programme meets the eligibility criteria. What happens if a learner is enrolled in two qualifications at the same time? For provider-based study, a learner enrolled in two qualifications at the same time will only receive Fees Free on completion of their first qualification. This applies, for example, when a learner is enrolled in a concurrent degree, or is studying towards two qualifications simultaneously. We’ll use the qualification completion date reported by TEOs to determine the first completed qualification. For work-based learning, eligibility is based on the learner’s first programme completion (apprenticeship or training programme) rather than the qualifications that make up that programme, many of which will be under the 120-credit minimum.
Source: Te Herenga Waka—Victoria University of Wellington
Historian Dr Toby Boraman has been appointed as the 2025 JD Stout Fellow by the Stout Research Centre for New Zealand Studies at Te Herenga Waka—Victoria University of Wellington.
As the JD Stout Fellow, Dr Boraman will continue his in-depth research for his upcoming book, provisionally titled Knocking Off: A History of Strikes in Aotearoa New Zealand from the late 1960s to the mid-1980s.
Dr Boraman says this was the most popular and lengthy period of strike action in Aotearoa New Zealand’s history, yet it has been often overlooked.
“It was a time of profound strike activity, yet it has remained largely unexplored in historical scholarship.
“This project will explore the extent to which the period under study was a key transitional phase that has profoundly shaped the present. Much like today, it also demonstrates how political polarisation, and right-populism, can develop rapidly in response to major crises and conflict.”
A specialist in the labour history and social movements of Aotearoa New Zealand, Toby has published numerous articles and chapters on the political and social turbulence of the 1970s and 1980s. He has also worked as a historian at the Waitangi Tribunal and served as a politics lecturer at Massey University. His international experience includes a fellowship at the re:work International Research Centre studying the global history of work at Humboldt University in Germany.
His research aims to uncover the hidden history of strikes, amplifying voices that have long been excluded—Māori workers, migrant Pasifika workers, women workers, and rank-and-file unionists—while offering a comprehensive, multi-dimensional history of workplace conflict, combining critical analysis of the causes, reactions, lasting impacts, and contested legacies of these disputes.
“This research project will close a significant gap in our knowledge of the period in question. I am very much looking forward to hosting Toby at the centre,” says Professor Brigitte Bönisch-Brednich, Director of the Stout Research Centre.
The JD Stout Fellowship is funded from the legacy of John David Stout and stewarded by Perpetual Guardian. It awards a scholar of high standing the opportunity to research an area of New Zealand society, history, or culture.
The Fellowship, which was established in 1985, has resulted in a body of influential publications in the field of New Zealand studies.
Dr Boraman will take up the Fellowship on 1 March 2025.
When you slurp an exotic Pacific oyster or throw fresh seafood on the BBQ this weekend, spare a thought for our local shellfish reefs – most of which have been destroyed or forgotten.
Coastal management and reef restoration has never been more important with shellfish reefs among the most impacted coastal ecosystems, warn Flinders University marine biology experts.
“As we approach the middle of the United Nations’ Decade on Ecosystem Restoration, shellfish ecosystems have suffered enormous declines worldwide, including losses of up to 85% of oyster reefs, and South Australia is no exception,” says Brad Martin, from the College of Science and Engineering, in a new article in the journal Ocean and Coastal Management.
The new research, led by Flinders PhD candidate Brad Martin, trawled through historical and archival records tracking centuries of South Australia’s shellfish management, reviving new information on past reef ecosystems and management practices.
“This research offers a multi-species approach to guide shellfish reef restoration today,” says Mr Martin.
“Successful conservation requires robust knowledge of ecosystem characteristics and the environmental stressors, to inform better coastal management, restoration targets and important community and other stakeholder support. Efforts to restore shellfish reefs have increased due to growing awareness of their loss and ecological importance.”
Flinders researchers analysed data from the state’s libraries, archives and newspaper articles that described South Australia’s flat oyster (Ostrea angasi), razor clam (Pinna bicolor), and hammer oyster (Malleus meridianus) reefs.
Oysters are classified as filter feeders that remove plankton and other organic particles from marine systems. As a result, shellfish reef losses have had significant outcomes for documented marine life and negative socio-economic impacts to coastal fisheries and communities.
More than 140 shellfish reef locations were identified, which covered about 2630 square kilometres of the state’s coastal waters – including approximately 887 sq km of former native oyster reefs, and temperate coral oyster reefs. Most of these shellfish reefs no longer exist today.
Commercial wild oyster harvesting commenced in the 1840s, and more than 43 million oysters were consumed by the 1910s, based on historic shipping and landing records. The high demand and potential declines motivated South Australia’s earliest fisheries legislation (in 1853) and marine restoration efforts, including fishery closures (est. 1875), shellfish translocation (est. 1887), and marine reserves (est. 1912).
“We found successful, large-scale oyster reef restoration historically occurred in Port Lincoln and Kangaroo Island in the 1910s, and community awareness of the impacts of shellfish reef loss to local fisheries and other marine life including snapper and whiting. These provide important case studies for future restoration efforts.”
Community research and restoration efforts in SA include the Port River shellfish reef restoration with OzFish Unlimited, Flinders University Citizen Science Reef on Kangaroo Island and the Coffin Bay citizen science oyster reef project, which supports production of the native oyster and razorfish for future generations.
The public is also encouraged to report records of existing shellfish ecosystems via citizen science programs such as iNaturalist or the Atlas of Living Australia.
The historical records indicate that shellfish reefs, of multiple ecosystem-forming bivalves, ultimately diminished over the past 200 years or so due to cumulative impacts of destructive benthic fishing practices, changes in marine resource management and environmental stressors, such as droughts, runaway predation and disease, despite multiple legislative and restoration attempts to reverse the declines.
“Past records indicate that razor clams or ‘razorfish’ (Pinna bicolor) were foundational to establishing multi-species shellfish reefs in South Australia by providing natural settlement surfaces for oysters,” adds Mr Martin.
“While razor clams and hammer oyster ecosystems can still be found today, the data demonstrates that these ecosystems are understudied and diminished. Future studies may unlock additional restoration opportunities to revive South Australia’s native shellfish.”
Flinders marine biologist Dr Ryan Baring, a senior author on the paper, says: “There is a bias towards commercially popular species compared to the distribution and conservation status of our ‘less loved’ shellfish ecosystems, particularly razor clams, hammer oysters and native mussels, which co-occur in these reefs.
“By reconstructing past shellfish reef distributions and socio-cultural connections, this review identifies evidence-based opportunities and key knowledge gaps to guide future research and management efforts,” says Dr Baring.
The article, ‘Reviving shellfish reef socio-ecological histories for modern management and restoration’ (2025) by Brad Martin, Charlie Huveneers, Simon Reeves (The Nature Conservancy Australia) and Ryan Baring has been published in Ocean and Coastal Management (Elsevier) DOI: 10.1016/j.ocecoaman.2025.107540.
The Prime Minister Shri Narendra Modi today, on National Girl Child Day, reiterated the Government’s commitment to keep empowering the girl child and ensure a wide range of opportunities for her.
In a thread post on X, Shri Modi wrote:
“Today, on National Girl Child Day, we reiterate our commitment to keep empowering the girl child and ensure a wide range of opportunities for her. India is proud of the accomplishments of the girl child across all fields. Their feats continue to inspire us all.”
“Our Government has focused on sectors like education, technology, skills, healthcare etc which have contributed to empowering the girl child. We are equally resolute in ensuring no discrimination happens against the girl child.”
Today, on National Girl Child Day, we reiterate our commitment to keep empowering the girl child and ensure a wide range of opportunities for her. India is proud of the accomplishments of the girl child across all fields. Their feats continue to inspire us all.
Our Government has focused on sectors like education, technology, skills, healthcare etc which have contributed to empowering the girl child. We are equally resolute in ensuring no discrimination happens against the girl child.
South Australia Police will conduct three road safety operations during the Australia Day long weekend, bringing a strong police presence focused on targeting road safety offences statewide.
Traffic Services Branch Officer in Charge Superintendent Shane Johnson warns road users not to take risks on the road.
“Police will have a strong presence across South Australia with Operation Safe Long weekend, Operation Safe Hills and Operation Stop Drink Drug Drive,” said Superintendent Johnson.
“The Australia Day long weekend has historically marked a busy season on South Australian roads with people commuting for holidays and traveling to events.
“In addition, the Tour Down Under is still attracting an increased number of cyclists on the roads.
“Our long weekend operations will cover proactive detection activities for drink and drug driving, speeding, distracted driving and illegal mobile phone use, non-use of seatbelts and dangerous driving.
“Drivers should share the road with cyclists safely by checking blind spots frequently, signal clearly and early, respect bike lanes and maintain a safe distance from cyclists.
“Road safety offenders risk heavy penalties, but more importantly, they risk the loss of life or serious injury – a lasting tragedy for the families and communities left behind. It’s imperative we do our part to keep roads safe for ourselves and others.”
During the 2024 Australia Day long weekend there was one life lost and 14 serious injuries.
Visit SA Police website for long weekend safety tips:
Police will have a strong presence in the city on Sunday to ensure community safety as six major events coincide.
Police have been working with event organisers within the Adelaide CBD with the bulk of events taking place between Elder Park, King William Road and Victoria Square.
Commissioner of Police Grant Stevens said tens of thousands of people are expected in the city throughout the day.
“Police will have additional resources to ensure public safety and the capacity to boost numbers if needed,” Commissioner Stevens said.
“Everyone has the right to participate in these activities safely and police will have a highly visible presence in all parts of the city and North Adelaide to ensure this occurs.
“While SAPOL supports the right for peaceful protest and freedom of expression, police will have zero tolerance for anti-social, racist or violent behaviour.
“For those events which have not been planned in conjunction with police, any inflammatory conduct or criminal offending will be dealt with quickly to ensure public safety.”
Starting the day with a Morning of Mourning at Elder Park from 7:30am the Women’s Tour Down Under (TDU) race will kick off nearby on King William Road at 10am. Survival Day 2025 events will be held at Victoria Square, with a march down King William Street at 11 and events continuing at the Square. The Men’s TDU will be held from 1:30pm and Aus Lights on the River, including the Respecting Country Parade will begin at 5pm.
“Many of the events will occur in the Declared Public Precinct, meaning police can conduct a metal detector search of a person and any property in their possession for the presence of weapons,” Commissioner Stevens said.
Police also have the power to:
carry out general drug detection in relation to any person within the precinct,
order a person or group posing a risk to public safety to leave the declared public precinct
ban a person who commits an offence of a kind that may pose a risk to public safety and order or behaves in an offensive or disorderly manner within the precinct (for up to 24 hours).
remove children from the declared public precinct who are in danger of physical harm or abuse, behaving in an offensive or disorderly manner, or otherwise committing or about to commit an offence.
Road closures will be in place to ensure the safety of pedestrians and cyclists, so motorists are encouraged to check www.traffic.sa.gov.au
Prime Minister Albanese has today delivered an historic commitment for full funding of Australia’s public schools.
Australian Education Union Federal President Correna Haythorpe said the AEU welcomes the announcement that the Commonwealth Government will lift their commitment to a full 25% of the Schooling Resource Standard (SRS) by 2034, with states expected to get rid of the 4% accounting trick brought in by the Morrison Government in 2018.
The Albanese and Malinauskus Governments have today signed the first heads of agreement under the new offer, providing $1 billion in additional funding for South Australian public schools.
The Prime Minister also announced an agreement has been signed with the Allan Government for Victorian public schools.
“This heralds a major breakthrough on full and fair funding negotiations for public schools,” Ms Haythorpe said.
“With the signing of these agreements, public schools in South Australia will see guaranteed funding increases every year, allowing them to employ more teachers, more education support staff and to provide more help for those students who need it.”
“That is lifechanging for students and for the teachers and support staff who give 100% every day.”
“Teachers, students and parents will finally see their public schools funded to the level needed for every child to reach their potential.”
AEUSA President Jennie Marie Gorman welcomed today’s announcement, and the benefits it will bring to South Australian teachers and students.
“As a former principal, I know the realities facing schools everyday and I understand the value of what this funding deal will bring for schools across our state. For students who need support with their learning, for teachers who need resources to address escalating workloads and to provide high quality learning programs, this announcement will be welcome news indeed,” Ms Gorman said.
AEUVIC President Justin Mullaly said the Victoria agreement will see teachers and students better resourced in public schools.
“Additional Commonwealth funding for Victorian public schools means dedicated and hardworking teachers, Education Support staff, and principals will have more of the resources they need to better meet the learning and wellbeing needs of all students,” Mr Mullaly said.
“The commitment to increase funding means it will be easier to attract and retain school staff and better address teacher shortages. Public schools will be able to employ extra teachers and ES so that every student gets more of the individual support they need and that school staff workloads can be managed.”
This announcement ends the practice of states artificially inflating their SRS share by 4% through the inclusion of non-school spending and sets a precedent that must be followed in new agreements in every state and the NT.
“Today’s announcement provides all state governments the opportunity to ensure that public schools are genuinely on the pathway to 100% SRS funding. We urge all state governments to finish negotiations and deliver full funding for their public school communities. Further delay means that public schools will be denied the vital resources that they need to deliver high quality teaching and learning programs,” Ms Haythorpe said.
“We welcome South Australia and Victoria signing on to this historic agreement and look forward to the other states signing. We call on the states not to delay.”
“Teachers know the importance of this funding, and the need for it to be rolled out as quickly as possible because of the difference it will make in classrooms, and parents understand the importance of teachers being supported to do their jobs well,” Ms Haythorpe said.
The AEU now calls on all political parties to support this full funding, for the future of Australian public schools.
“With a federal election looming, all political parties must back the Albanese Government’s offer in. Further, the Leader of the Opposition Peter Dutton must give an iron clad guarantee to public school communities that he will honour all school funding bilateral agreements in full should he become Prime Minister in any future election,” Ms Haythorpe said.
“Australia’s students cannot afford further delays in negotiations. It is time to get the deals done so that public schools have certainty.”
US President Donald Trump has called time on working from home. An executive order signed on the first day of his presidency this week requires all federal government departments and agencies to:
take all necessary steps to terminate remote work arrangements and require employees to return to work in-person.
There are a few different models of working from home. Strictly speaking, remote work is where employees work from an alternative location (typically their home) on a permanent basis and are not required to report to their office.
This is distinct from “telework”, a hybrid model whereby employees work from home an agreed number of days each week. But it’s clear Trump wants to end telework too.
Under guidelines released on Wednesday, federal agencies were given until 5pm local time on 24 January to update their telework policies to require all employees back in the office full-time within 30 days.
Obviously, Trump can’t end working from home for everyone. Private organisations are allowed to set their own policies. But the US government is a seriously big employer, with more than 3 million employees.
According to the American Federation of Government Employees (AFGE), about 10% of federal workers are fully remote. The impact of this order will be far-reaching.
Trump abruptly pulls the rug
The work-from-home movement was a profound global shift, brought on by the COVID pandemic. We’ve been living with it for five years.
Federal workers who have been working remotely for an extended period are likely to have made significant life decisions based on their flexible working arrangements.
Flexible working arrangements have been mainstream for years, influencing key life decisions for many people. Monkey Business Images/Shutterstock
It may have influenced where they bought a house, what school their children attend, and what their spouse or partner does for work.
Trump’s order is likely to have a dramatic ripple effect on workers’ families and other life arrangements and responsibilities.
True, federal heads of department and managers and supervisors will be allowed to make some exceptions – including for a disability, medical condition or other “compelling reason”.
But the message is clear. What has been a growing but informal trend among some employers worldwide to “bring employees back into the office” is now being incorporated into US government policy.
Why the backlash?
Trump’s executive order reflects longstanding concerns among some employers and managers who think it is simply better to have employees in the office.
They argue, among other things, that in-office work makes it easier to keep a close eye on performance, and supports more face-to-face collaboration. It also makes better use of often very expensive real estate.
Amazon recently ordered all of its staff back into the office five days a week. Other surveys suggest many employers are planning a crackdown this year.
City planners and businesses have also lamented the impact of remote and flexible working on restaurants, dry cleaners and coffee shops that rely on trade from commuters.
What might be lost?
Some employees may actually welcome the return to the office, particularly those who prefer more social interaction and want to make themselves more visible.
Others will find the change jarring, and may lose a range of benefits they’ve grown used to.
A 2023 report by policy think tank EconPol Europe found working from home had become most prevalent in English-speaking countries.
It suggested strong support, saying:
the majority of workers highly value the opportunity to work from home for a portion of their work week, with some placing significant importance on it.
Many also wanted to work more days from home than their employers were willing to allow.
A recent analysis by the Committee for Economic Development of Australia (CEDA) found that working from home had significantly increased workforce participation for two key groups: working mums and people with a disability or health condition.
Many employees now prioritise flexible work arrangements, and some are willing to sacrifice part of their salary for the privilege.
Work-from-home arrangements also offer individuals living in remote communities access to employment. That benefit goes two ways, allowing employers to tap into a bigger talent pool.
Will Australia follow?
Trump’s executive order could have big, immediate impacts on federal workers in the US, but it’s unclear whether there’ll be domino effects here. It would be unwise for the Australian government or major employers to adopt a blanket approach.
Indeed, some multinational US firms with offices in Australia may get caught up in Trump’s return-to-office movement.
In the short term, this forced change is unlikely to make its way to Australia. While social trends do travel between regions, each country has its own employment laws, customs and trends.
Researchers have shown it can be difficult, and in some cases impossible, to transfer human resource practices between countries
and across cultures.
Australia’s geography may be a factor on remote work’s side. A complete ban would immediately have a negative impact on employment opportunities for talented workers in the regions.
The key message for Australian employers and policy-makers is that the benefits of remote work aren’t just for employees.
It can enhance an organisation’s performance, widening the talent pool to include not only those who live far away from the office, but also talented workers who may otherwise be excluded.
Julia Richardson does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: Hong Kong Government special administrative region
LCSD opens application for relaxation of entry restrictions at licensed billiard establishments starting February 25 LCSD opens application for relaxation of entry restrictions at licensed billiard establishments starting February 25 ******************************************************************************************
The Leisure and Cultural Services Department (LCSD) announced today (January 24) that applications will be welcome from licensed billiard establishments which meet relevant requirements for relaxing the entry restrictions for youth, so as to facilitate more young people to access billiard sports and promote its development in Hong Kong. The measures include lowering the minimum age limit from 16 to 8 years; relaxing the restriction of entry hours for young patrons from the current 8pm to 10am to a new timeframe of 11pm to 7am; and permitting persons in school uniforms to enter licensed billiard establishments. Applications can be made starting from February 25. In response to views received on promoting local billiard sports development, the LCSD set up a working group in February 2024 to explore suitable measures. Based on the discussion of the working group, the LCSD will relax the above restrictions for licensed billiard establishments that meet relevant requirements in accordance with the existing provisions of the Places of Amusement Regulation (Cap. 132BA). The LCSD will duly process applications received, and factors to be considered include the billiard establishments’ operational situation, the surrounding environment, facilities and activities within the premises, etc. The LCSD will review the effectiveness in a timely manner. For further inquiries, please contact the Licensing and Prosecution Unit of the LCSD at 2601 8799 or via email at lpu@lcsd.gov.hk.
The Western Australian State Election will be held on Saturday 8 March 2025, in line with other public sector agencies, we will assume a caretaker role from 5 February 2025 and will follow the State Government’s guidelines.
During the caretaker period, we will continue to receive and assess grant requests, however funding decisions will be deferred until after the caretaker period has ended.
We will also take on a caretaker role for the Federal Election, and further information will be provided once the election date has been announced.
Please continue to check our website regularly for updates and sign up to our e-newsletter. If you think your organisation may be affected by these caretaker periods, please contacts us on 133 777 or email healthway@healthway.wa.gov.au
Last updated 24 January 2025 Last updated 24 January 2025
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Investigations are a key part of monitoring the performance and compliance of the tertiary education sector. Investigations are a key part of monitoring the performance and compliance of the tertiary education sector.
The Tertiary Education Commission (the TEC) has a range of powers, under the Education and Training Act 2020 and funding conditions, to conduct investigations ensuring the Government’s investment in tertiary education is used properly. We begin an investigation of a tertiary education organisation (TEO) if we are concerned about practices or behaviours which may put student interests or government funding at risk. TEO investigation guidelines Our monitoring system is designed to ensure both the burden on TEOs and the level of TEC effort is proportionate to the level of risk. This means investigations vary in size and complexity depending on our concerns, the size of the TEO, and a range of other factors. All monitoring activities (including investigations) are undertaken in accordance with our monitoring principles, which are included in the investigation guidelines below. These also include guidance on how we undertake investigations, the processes we follow, and how we deal with information supplied by TEOs under investigation. The Tertiary Education Commission investigation guidelines – 2020 (PDF 788 KB) Outcomes of investigations We generally publish investigation outcomes as part of a transparent, consistent approach to monitoring. This helps provide assurance that public funds are being well managed. Publication of investigation findings is also a key way we share learnings from monitoring activities with the sector, and helps other TEOs improve their performance and compliance. The TEC has the discretion to not publish an investigation report or outcomes. Any such decision is made with reference to the provisions of the Official Information Act. For example, where there are no material findings, or issues identified are only minor, publishing the fact of an investigation may reduce public confidence in a TEO at a level disproportionate to the issues investigated. In such cases, the TEC would seek to share any valuable learnings from the investigation with the sector in another way, including through regular monitoring updates. When investigation reports or outcomes are finalised and able to be made public, they are published below.
There were no investigations published in 2024.
Active Institute
Competenz
Tai Poutini Polytechnic
BEST Pacific Institute of Education
Reviews From 2014-2017, the TEC also conducted ‘reviews’ of smaller or less complex issues at TEOs. The TEC has updated its approach, and only conducts audits and investigations of TEOs. Historic reviews are now considered investigations.
Quantum Education Group
EnterpriseMIT
College of Natural Health and Homeopathy
Reviews From 2014-2017, the TEC also conducted ‘reviews’ of smaller or less complex issues at TEOs. The TEC has updated its approach, and only conducts audits and investigations of TEOs. Historic reviews are now considered investigations.
Lincoln University’s Telford Division
New Zealand School of Outdoor Studies
Reviews From 2014-2017, the TEC also conducted ‘reviews’ of smaller or less complex issues at TEOs. The TEC has updated its approach, and only conducts audits and investigations of TEOs. Historic reviews are now considered investigations.
Manaakitanga Aotearoa Charitable Trust
Agribusiness Training Ltd
Tectra Limited
Taratahi Agricultural Training Centre
Te Whare Wanānga o Awanuiārangi
Western Institute of Technology at Taranaki (WITT)
From 2014-2017, the TEC also conducted ‘reviews’ of smaller or less complex issues at TEOs. The TEC has updated its approach, and only conducts audits and investigations of TEOs. Historic reviews are now considered investigations. The six reviews below focused on TEOs that offered programmes with similar features to those found in two previous investigations at Te Whare Wānanga o Awanuiārangi and WITT. We undertook the reviews to determine whether the issues found in the two investigations were prevalent across the sector. This was found not to be the case.
*Note: The TEC accepted the findings from an independent report commissioned by Service IQ.
The Albanese Labor Government and Allan Labor Government have come to an historic agreement that will put all public schools in Victoria on a path to full and fair funding. As part of the agreement, the Commonwealth will provide an additional 5 per cent of the Schooling Resource Standard (SRS) to Victorian public schools. This will lift the Commonwealth’s contribution from 20 per cent to 25 per cent of the SRS by 2034. This will see around an estimated $2.5 billion in additional Commonwealth funding to Victorian public schools over the next 10 years. This represents the biggest new investment in Victorian public schools by the Australian Government – ever.
This includes more individualised support for students, mandating evidenced-based teaching practices and more mental health support in schools. Victoria will remove the provision put in by the former Liberal Government allowing the state to claim 4 per cent of public school funding for indirect school costs such as capital depreciation and replace it with 4 per cent of recurrent funding on eligible expenses, while also maintaining a share of 75 per cent of the SRS for public schools. This is not a blank cheque. The Agreement signed today will be followed by a Victorian Bilateral Agreement, which will tie funding to reforms already being delivered in Victorian schools that will help students catch up, keep up and finish school, such as:
A Year 1 phonics check commencing this year and an early years numeracy check to identify students in the early years of school who need additional help
Continue the nation leading investment in initiatives that support wellbeing for learning – including access to mental health professionals in schools
Access to high-quality and evidence-based professional learning
Initiatives that improve the attraction and retention of teachers.
In addition, the following national targets will be included:
Increasing the proportion of students leaving school with a Year 12 certificate by 7.5 percentage points (nationally) by 2030
Reducing the proportion of students in the NAPLAN ‘Needs Additional Support’ proficiency level for reading and numeracy nationally by 10 per cent.
Increasing the proportion of students in the ‘Strong’ and ‘Exceeding’ proficiency levels for reading and numeracy by 10 per cent by 2030 and trend upwards for priority equity cohorts in the ‘Strong’ and ‘Exceeding’ proficiency levels nationally.
Increasing the Student Attendance Rate, nationally, to 91.4 per cent (2019 level) by 2030.
Increasing the engagement rate (completed or still enrolled) of initial teacher education students by 10 percentage points to 69.7 per cent by 2035.
This means more help for students and more support for teachers.
The states and territories that have signed the Better and Fairer Schools Agreement (BFSA) – Western Australia, Tasmania, the Northern Territory and the Australian Capital Territory (ACT) – will also be offered additional funding from the Commonwealth, as per the no disadvantage clause included in their respective bilateral agreements. This will include similar requirements to no longer account for indirect expenditure on schools. The Albanese Government is continuing to work with remaining states to get all public schools on a path to full and fair funding. Quotes attributable to Prime Minister Anthony Albanese: “Labor knows that education opens the doors of opportunity and we want to make sure we widen them. “Building Australia’s Future means investing in the next generation, which is why every dollar of this funding will go into helping children learn. “This gives certainty to parents and teachers, while setting our children up for the future.” Quotes attributable to Premier Jacinta Allan: “My priority is – and has always been – that every child, no matter where they live, has access to a world-class education in a Victorian government school. “By investing in our schools, we’re investing in our kids’ future – that’s why we have the largest school building program in the country and that’s why we’ve advocated for this deal. Quotes attributable to Minister for Education, Jason Clare: “This is real funding tied to real reforms to help students catch up, keep up and finish school.
“It’s not a blank cheque. I want this money to get results.
“That’s why funding will be directly tied to reforms that we know work.
“It will help make sure every child gets a great start in life. What every parent wants. And what every Australian child deserves.” Quotes attributable to Victorian Minister for Education Ben Carroll: “We have been unrelenting in our advocacy to the Commonwealth to increase its funding to 25 per cent of the SRS for Victorian Government schools to ensure that all schools in Victoria are fairly and fully funded.”
“This is a win for Victorian students and teachers, and we are pleased to have reached agreement with the Albanese Labor Government.
In the underwriting auction conducted on January 24, 2025, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:
Headline: Support for $10,000 apprentice incentive payments
Published: 24 January 2025
Statement by: Minister for Skills, TAFE and Tertiary Education
We welcome the Albanese Labor Government’s $10,000 incentive payment for apprentices in the construction and clean energy sectors and its focus on apprentice retention.
NSW leads the nation in apprenticeship and traineeship participation, accounting for nearly 30% of Australia’s total, with more than 103,000 apprentices and trainees in training.
These figures highlight the Minns Labor Government’s commitment to building a skilled workforce for the future.
Importantly, completion numbers in NSW are also on the rise, with a 10% increase in the 2024 June quarter compared with 2023.
This includes a 13% jump in apprenticeship completions and 7% growth in traineeships, well above the national average of 3%.
However, we know there is more work to do and finding innovative ways to address skills shortages in the construction sector will be key if we are to meet our NSW commitment to boost housing supply and reach net zero by 2050.
Whenever I meet apprentices, they tell me how difficult it is to keep up with cost-of-living pressures. I know this $10,000 boost will be warmly welcomed by apprentices in NSW.
This incentive payment complements the work under way as part of our newly released NSW Skills Plan, the first in over 15 years, the Apprenticeship & Traineeship Roadmap 2024-26, and the NSW VET Review, which all have a key focus on construction and renewable energy workforces and giving young people opportunities and pathways to fulfilling careers.
Source: Hong Kong Government special administrative region
Marine traffic control and safety measures to be followed at Lunar New Year Fireworks Display Marine traffic control and safety measures to be followed at Lunar New Year Fireworks Display ******************************************************************************************
With regard to the 2025 Lunar New Year Fireworks Display to be held on January 30, the Marine Department (MD) will implement marine traffic control and strengthen the inspection of spectator vessels on the event day to ensure that safety requirements are met. A Closed Area in the waters off the Hong Kong Convention and Exhibition Centre in Wan Chai, where barges for the fireworks display are to be anchored, will be established from 2pm to about 10.30pm on the event day. A Restricted Area will be established in the Central Harbour from 7pm to about 9pm on the event day. Other than authorised vessels, no vessels will be allowed to enter these two areas. Scheduled ferry vessels with permission may continue services until 7.40pm. Spectator vessels may stay inside the Specified Area, excluding the Restricted Area and the Closed Area, for viewing from 6pm to 9pm (the specified period) on the event day. To enhance marine safety during this major event at sea, coxswains of spectator vessels in the Specified Area during the specified period must ensure that children on board are accompanied by an adult and wear a lifejacket at all times. Coxswains must also keep a passenger and crew list on board for emergency purposes. The MD will step up vessel inspections. If any vessel fails to meet these requirements, the department will initiate prosecution. In addition, to ensure that vessels disperse in an orderly manner, the Eastern and Western Cordon Lines of the Restricted Area will be lifted in stages after the event. The Western Cordon Line will be lifted first at about 9pm. Spectator vessels behind the Western Cordon Line and those wishing to move east must follow the instructions of officers from the MD and the Police at the scene. The Eastern Cordon Line will be lifted later, depending on traffic conditions in Victoria Harbour. It is anticipated that the Restricted Area will be lifted by about 9.15pm on the event day. For landside crowd control, the public landing steps No. 4 to 6 at Kowloon Public Pier will be closed temporarily from 6am to midnight, and the public landing steps No. 1 to 3 will be closed temporarily from 6pm to about 9pm. Other public landing steps within the Restricted Area will be closed temporarily from 6.30pm to about 9pm. Buffer zones at Kowloon Public Pier, Kwun Tong Public Pier and Central Piers 9 and 10 will be established immediately after the event for the safe and orderly disembarkation of passengers. Officers from the MD and the Police will also maintain order at major landing facilities after the event. To ensure smooth disembarkation, coxswains and crew members should remind passengers to pack their personal belongings early before the vessels arrive alongside the landing steps and assist passengers in disembarking. Coxswains and passengers should follow the instructions of the MD and the Police at the scene. The MD and the Marine Police will also strengthen law enforcement, especially concerning life-saving appliances, speeding and overloading. Coxswains and persons-in-charge of vessels should check again and reconfirm that the operating licence, the certificate of survey and the third-party risk insurance are valid before setting sail, and that relevant crew members are not under the influence of alcohol or drugs. MD Notice No. 14 of 2025 on marine traffic control and safety measures has been issued and is available for viewing on the MD’s website (www.mardep.gov.hk).
Nokia to upgrade BBIX network to massively increase bandwidth and enhance operational efficiency
BBIX will deploy a Nokia IP networking solution to improve existing capacity as internet traffic continues to grow exponentially
This 400GE network upgrade paves the way for BBIX customers to grow and expand their business
Deployment to begin in Japan and will expand to other markets, including Singapore
27 January 2025 Tokyo, Japan — Nokia today announced that BBIX, Inc. (“BBIX”), a leading Internet Exchange in the world, has selected Nokia’s IP routing technology to upgrade its network to 400GE to meet the demand of growing data traffic. Once deployed, BBIX will not only increase capacity, but will improve stability, flexibility, and reliability of BBIX’s network operations, translating to superior services to its customers.
BBIX will deploy Nokia’s 7220 Interconnect Router (IXR) that runs the Nokia SR Linux Network Operating System (NOS), allowing BBIX to ensure high-quality network interconnection even as the number of high-bandwidth customers continues to rise. The deployment will start in Japan this year and will be subsequently expanded to other markets, including Singapore.
Hideyuki Sasaki, President & CEO at BBIX, said: “Managing today’s explosive internet traffic growth requires more than just capacity—it demands intelligent, reliable infrastructure. Nokia’s solution provides the sophisticated capabilities we need to handle high-volume traffic while maintaining exceptional service quality. Their technology enables us to build a network infrastructure that excels in three critical areas: cost-effectiveness, reliable performance, and seamless scalability.”
Kent Wong, Vice President and Head of IP Networks, Asia Pacific at Nokia, said: “Nokia is at the forefront of developing a comprehensive range of IP solutions in line with the evolving needs of the industry. A thorough evaluation of our routing portfolio convinced BBIX of the strength of our solutions. We are delighted to work with BBIX to upgrade its network with our 7220 IXR that runs the SR Linux NOS to help our customer improve its operational efficiency while its customers benefit from a massively scalable and future-proof network.”
About Nokia At Nokia, we create technology that helps the world act together.
As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.
With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.
Rising US tariffs and other policies of the new US presidential administration could create mixed outcomes for Asian economies, emphasizing the importance of building resilience through regional integration and open trade.
How will new US administration policies affect economies in Asia and the Pacific, and how should they respond?
To gain insight into these questions, ADB recently completed two studies based on different global models—one strong on macroeconomics and one strong on trade—to estimate the magnitude of likely effects.
The first study examines the impact of the US imposing aggressive policies including 60% tariffs on the People’s Republic of China (PRC) and 10% tariffs on everyone else, reduced US immigration, and expansionary US fiscal policies.
The second study focuses only on the impact of tariffs. It assumes 60% tariffs on Chinese imports and examines different tariff scenarios for the rest of the world: 10% versus 20% tariffs, tariffs across the board versus exemptions for countries with free trade agreements with the US, and equal retaliatory tariffs versus no retaliation.
What do we learn from these exercises?
First, the negative effects on the Chinese economy will be relatively modest even with 60% tariffs. The first study, using a macro model, finds that growth slows by just 0.3% per year during the four years of the new administration, and the trade model predicts much smaller impacts thanks to opportunities to redirect trade to other countries and smaller impacts on global output than in the macro study. The impacts will be even less severe if the US only imposes additional tariffs of 10% as has been recently announced, even though further review of US trade imbalances could lead to more tariff increases later in the year.
One reason for the modest impacts of high US tariffs is that the importance to the Chinese economy of exports to the US (both direct and indirect) has fallen steadily, now accounting for just 3% of the country’s GDP.
Evidence from President Trump’s first term shows that the PRC was able to redirect exports to other countries and that the cost of US tariffs was largely borne by US consumers and firms.
Second, the effects on other Asian economies will be mixed, with some economies even expected to grow faster thanks to new export opportunities to the US to replace goods previously exported to the US from the PRC.
Opportunities from trade diversion also were evident during the first trade war between the US and the PRC, benefiting export-competitive economies such as Viet Nam.
The recent shift observed in foreign direct investment (FDI) in strategic sectors away from the PRC and toward other Asian economies, especially in Southeast Asia, is likely to be reinforced.
Despite these trends, it would be a mistake to assume that US tariffs on the PRC have zero-sum impacts that hurt the PRC and help other Asian economies. This is because in recent years the Chinese economy has become increasingly linked to other economies in the region through trade and investment despite geoeconomic fragmentation globally.
Thus, slower Chinese growth hurts other economies by reducing demand for imports, and reduced Chinese exports to the US hurts economies that supply capital equipment and inputs to Chinese exporters, most notably the high-tech economies in East Asia including the Republic of Korea and Japan.
Also, if higher US tariffs on imports from the PRC help other Asian economies to attract more FDI and increase exports to the US, Chinese firms can still share in those benefits by increasing their outbound FDI and increasing exports of intermediate inputs to those economies. Indeed, such patterns of investment and trade have already become evident, especially in Southeast Asia.
The trade study also finds that economies with trade agreements with the US will benefit if they are exempt from US tariff increases while tariffs are imposed on their competitors without such trade agreements. Most economies in the region lack trade agreements with the US and so would be negatively affected by such a differentiated policy.
Finally, economies in the region should be cautious in considering whether to respond to higher US tariffs with tariffs of their own. Higher import tariffs increase the price of imports which can contribute to inflation, make goods more expensive for domestic consumers, and increase the costs of production for producers that rely on imported intermediate inputs.
Perhaps of greater importance for Asian economies than tariffs is the impact of the new administration’s policies on US inflation and interest rates.
All the announced policies—to increase tariffs, reduce immigration, and extend and perhaps increase tax cuts—are likely to be inflationary, which is expected to lead to higher US interest rates for longer periods of time. These expectations are already evident in the shift in the structure of US bond yields since the US election. Despite much progress by many Asian economies to reduce reliance on US-denominated debt, financial conditions in Asia remain quite sensitive to US interest rates and to inflation news when Fed policy is data dependent as it is now.
Higher US rates reduce the scope for Asian central banks to lower interest rates and support growth in the region. They increase debt sustainability risks for economies with high debt levels denominated in US dollars.
Given higher US interest rates, our macro model predicts that currencies in the region will depreciate relative to the dollar.
However, we do not expect weaker currencies to lead to higher inflation overall because our macro model finds that the higher interest rates and trade costs associated with US policies will reduce global GDP and demand for commodities, which will lead to lower global energy and food prices.
In recent years, developing economies in Asia have demonstrated tremendous resilience to large shocks associated with the pandemic, commodity prices, and geoeconomic fragmentation.
This is due to sound macroeconomic management by most governments in the region. Moreover, despite global geoeconomic fragmentation, governments have maintained their commitment to open trade and investment, which has strengthened regional economic integration.
This impressive track record means the region is well placed to maximize opportunities for inclusive growth and remain resilient to future shocks, including unexpected policy directions of the new US administration.
Develop certification frameworks, build sustainable capacity-building systems, and promote knowledge center collaboration.
Disclaimer
The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.
Source: Hong Kong Government special administrative region
Exchange Fund Position at end-December 2024 Exchange Fund Position at end-December 2024 *******************************************
The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) today (January 27) published the unaudited financial position of the Exchange Fund at end-December 2024. The Exchange Fund recorded an investment income of HK$219.0 billion in 2024. The main components were:
gains on bonds of HK$135.6 billion; gains on Hong Kong equities of HK$21.8 billion; gains on other equities of HK$68.7 billion; negative currency translation effect of HK$35.6 billion on non-Hong Kong dollar assets (Note 1); and gains on other investments of HK$28.5 billion (Note 2).
Fees on placements by the Fiscal Reserves and placements by HKSAR Government funds and statutory bodies were HK$13.2 billion (Note 3) and HK$15.7 billion respectively in 2024, with the rate of fee payment at 3.7 per cent for 2024. The Abridged Balance Sheet shows that the total assets of the Exchange Fund increased by HK$65.9 billion, from HK$4,016.5 billion at the end of 2023 to HK$4,082.4 billion at the end of 2024. Accumulated surplus stood at HK$731.6 billion at end-December 2024. The Exchange Fund recorded an investment return of 5.3 per cent in 2024 (Note 4). Specifically, the Investment Portfolio achieved a rate of return of 7.2 per cent and the Backing Portfolio gained 4.1 per cent. The Long-Term Growth Portfolio (LTGP) recorded an annualised internal rate of return of 11.5 per cent since its inception in 2009 up to the end of September 2024. Commenting on the performance of the Exchange Fund in 2024, Mr Eddie Yue, Chief Executive of the HKMA, said, “Global financial markets performed broadly well in 2024. Major economies recorded stable growth, while inflation eased closer to policy targets. Major central banks progressively lowered their policy rates. This was positive to the investment environment. Major equity markets rose notably in 2024, with US equities making strong gains in the first three quarters on the back of a generally positive economic and inflationary fundamentals, and the fervor around the artificial intelligence industry. However, markets became more volatile in the fourth quarter and retreated from their highs as investors turned more cautious amidst concerns over rising inflation and bond yields. In the Mainland and Hong Kong, investor confidence improved, following the Central Government’s announcements of a series of policy measures in the third quarter to stimulate the economy and equity market. Nevertheless, the two equity markets softened in the fourth quarter as market participants remained somewhat uncertain about the real economic growth. Meanwhile, global bond markets experienced higher volatility. Although major central banks have affirmed their general policy direction of lowering interest rates, the pace and magnitude of rate cuts have changed a few times during the year. Entering the fourth quarter, as markets began to focus on the US fiscal policy in the coming year, US Treasury yields rose sharply and weighed on bond prices. Furthermore, the US dollar strengthened against other major currencies in 2024, particularly in the fourth quarter, as a result of the interest rate movements and the relatively strong performance of the US economy. In view of these two factors, the Exchange Fund as a whole recorded some valuation loss in the fourth quarter of 2024. For 2024 as a whole, the Exchange Fund achieved a decent investment income. The bond portfolio has benefited from substantial interest income as a result of persistently high yields. The equity portfolio has also performed well. However, the US dollar strengthened against other major currencies, leading to a negative currency translation effect on our non-Hong Kong dollar assets.” Mr Yue said, “Looking ahead to 2025, the global financial markets remain uncertain. Interest rate policies will continue to be the focus of the markets. According to the latest projections in December, the US Fed forecasted half a percentage point of rate cut in total in 2025. This is smaller than the previous projection of one percentage point, and reflects the Fed’s more cautious stance towards inflation. Meanwhile, the new US administration’s policies on the economy, tax and trade could add uncertainties to the inflation path. This in turn affects how much room the Fed has in adjusting monetary policy. Furthermore, any escalation in trade frictions among major economies or geopolitical situation could impact real economic activities, and may also trigger volatility in the financial markets. Given these challenges we face, the HKMA will, as always, adhere to the principle of capital preservation first while maintaining long-term growth. We will continue to manage the Exchange Fund with prudence and flexibility, implement appropriate defensive measures, and maintain a high degree of liquidity. We will also continue to diversify our investments to strive for higher long-term returns, ensuring that the Exchange Fund remains effective in achieving its purpose of maintaining monetary and financial stability of Hong Kong.” Note 1: This is primarily the effect of translating foreign currency assets into Hong Kong dollar after deducting the portion for currency hedging.Note 2: This is the valuation change of investments held by investment holding subsidiaries of the Exchange Fund. This figure reflects the valuations at the end of September 2024. Valuation changes of these investments from October to December are not yet available.Note 3: This does not include the 2024 fee payment to the Future Fund because such amount will only be disclosed when the composite rate for 2024 is available.Note 4: This return excludes the performance of the Strategic Portfolio and only includes the performance of LTGP up to the end of September 2024. The audited full year return will be disclosed in the 2024 annual report.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
Source: Hong Kong Government special administrative region
Hong Kong Customs detects case of illegally importing animals in third phase of “Pet Guardian” operation (with photos) Hong Kong Customs detects case of illegally importing animals in third phase of “Pet Guardian” operation (with photos) ******************************************************************************************
Hong Kong Customs mounted an operation against smuggling of animals codenamed “Pet Guardian” with the Anti-Smuggling Bureau of Shenzhen Customs since November 2023. In late January this year, Hong Kong Customs launched the third phase of the operation and detected one suspected case of illegally importing animals on January 22. Four suspected illegally imported animals with an estimated market value of about $120,000 were seized. On that day, Hong Kong Customs at Sha Tau Kok spotted a woman pushing a bike, who entered Hong Kong through the Chung Ying Street Checkpoint from the Mainland side of Chung Ying Street. The front basket of her bike carried two handbags suspected of containing animals. Customs officers then took action and found four suspected illegally imported animals, including one kitten and three puppies, inside the handbags. The 32-year-old woman was subsequently arrested. Investigations of the case is ongoing and the four animals have been handed over to the Agriculture, Fisheries and Conservation Department for follow-up action. Being a government department specifically responsible for tackling smuggling, Customs has long been combating various smuggling activities on all fronts. Customs will keep up its enforcement action and continue to resolutely combat all types of smuggling activities through proactive risk management and intelligence-based enforcement strategies, and carry out targeted anti-smuggling operations at suitable times to disrupt relevant crimes. Customs reminds the public that importing animals into Hong Kong without a valid permit is an offence. Under the Rabies Regulation, any person found guilty of illegally importing animals, carcasses or animal products is liable to a maximum fine of $50,000 and imprisonment for one year.
Source: Hong Kong Government special administrative region
Police will implement crowd safety management measures and special traffic arrangements to facilitate worshippers visiting Che Kung Temple in Sha Tin during the Che Kung Festival period.
Crowd safety management measures ——————————–
A large crowd is anticipated to visit Che Kung Temple and Che Kung Festival Fair during the Lunar New Year period. Depending on the crowd conditions, one-way pedestrian flow may be implemented at MTR Tai Wai Station and in the vicinity of Che Kung Temple, including Che Kung Miu Road and Chui Tin Street, between 11pm on January 28 and 8pm on Feberuary 2 to ensure public order and safety. Members of the public are urged to observe order and be patient while waiting in a queue.
Special traffic arrangements —————————-
A. Road closure
The following roads will be closed from 8pm on January 28 to 8pm on February 2:
– The slow lane of westbound Che Kung Miu Road between Sha Tin Tau Road and Chui Tin Street; – The right-turn lane of westbound Che Kung Miu Road between Chui Tin Street and near Che Kung Temple; – The slow lane of northbound Chui Tin Street between Che Kung Miu Road and the entrance of Sun Chui Estate near Sun Fong House; and – The slow lane of southbound Chui Tin Street between Che Kung Miu Road and the entrance of Sun Chui Estate near Sun Fong House.
B. Traffic diversions
The following traffic diversions will be implemented from 8pm on January 28 to 8pm on February 2:
– Traffic along westbound Che Kung Miu Road cannot turn left to Chui Tin Street; – Traffic along westbound Che Kung Miu Road cannot turn right to the private road of The Wai; – Traffic along southbound Chui Tin Street cannot turn left to the road leading to the public car park at Chui Tin Street near Che Kung Temple; – Traffic along northbound Chui Tin Street cannot turn right to the road leading to the public car park at Chui Tin Street near Che Kung Temple; – Traffic along southbound Chui Tin Street cannot turn right to the entrance of Sun Chui Estate near Sun Fong House; – Traffic along northbound Chui Tin Street cannot go straight to the private road of The Wai; – Traffic along westbound Che Kung Miu Road heading for southbound Chui Tin Street and the private road of The Wai will be diverted via westbound Che Kung Miu Road, roundabout and eastbound Che Kung Miu Road; – Traffic along southbound Chui Tin Street heading for the entrance of Sun Chui Estate near Sun Fong House will be diverted via southbound Chui Tin Street, westbound Chui Tin Street, roundabout, eastbound Chui Tin Street and northbound Chui Tin Street; and – Traffic along northbound Chui Tin Street heading for the private road of The Wai will be diverted via westbound Che Kung Miu Road, roundabout and eastbound Che Kung Miu Road.
C. Cycle track closure
The following cycle tracks will be closed from 8pm on January 28 to 8pm on February 2:
– The cycle track along Tsuen Lam Road between Tai Wai Road and the western riverside of Shing Mun River Channel; – The cycle track along the western riverside of Shing Mun River Channel between Tai Wai Soccer Pitch and Che Kung Miu Road; – The cycle track along the eastern riverside of Shing Mun River Channel between Tai Wai Soccer Pitch and Man Lai Court; – The cycle track connecting the eastern and western riverside of Shing Mun River Channel near Block 1 of Man Lai Court; – The cycle tracks along both sides of Che Kung Miu Road between Chui Tin Street and Sha Tin Tau Road; – The cycle track inside the subway system at the junction between Che Kung Miu Road and Chui Tin Street; – The cycle track inside the subway system at the junction between Che Kung Miu Road and Sha Tin Tau Road; – The cycle track along southern kerbside lane of Che Kung Miu Road between Chui Tin Street and Island School Tai Wai; and – The cycle tracks along both sides of Chui Tin Street between Che Kung Miu Road and the unnamed road leading to public car park near Che Kung Temple.
During the cycle track closure period, cyclists may use the cycle track along the northern riverside of Shing Mun River Channel between Lion Rock Tunnel Road and Shing Wan Road commuting to and from Sha Tin.
D. Suspension of car parks
The public car park at Chui Tin Street near Che Kung Temple will be suspended from 6am on January 28 to 8pm on February 2, and from 7am to 6pm daily on February 8, 9, 15 and 16, except for vehicles with permit.
The public car park at Chui Tin Street near Greenview Garden will be suspended from 6am on January 28 to 8pm on February 2, except for vehicles with permit.
Members of the public are advised to make use of public transport to visit Che Kung Temple and Che Kung Festival Fair.
During the implementation of the special traffic arrangements, any vehicles found illegally parked within the precincts mentioned above will be towed away without prior warning, and may be subject to multiple ticketing.
Police will implement the above arrangements subject to traffic and crowd conditions in the area. Members of the public are advised to exercise tolerance and patience and take heed of instructions of the Police on site.