Serena to skip Tokyo Games, declines to explain reasons

June 28, 2021 | 6:45 pm

SERENA Williams will not be travelling to Tokyo for the Olympic Games, the 23-times Grand Slam singles tennis champion said on Sunday without giving the reasons behind her decision.

American Williams, who will turn 40 in September, won the singles title at the London Olympics in 2012 and she has also picked up three gold medals in doubles with sister Venus — in Sydney (2000), Beijing (2008) and London.

“Yeah, I’m actually not on the Olympic list, so… Not that I’m aware of. If so, then I shouldn’t be on it,” Williams told reporters on the eve of the Wimbledon Grand Slam.

Top men’s players such as Rafa Nadal and Dominic Thiem have also opted to skip the Tokyo Games, which start on July 23.

Roger Federer, a 20-times major winner who also turns 40 in August, said he would like to go to the Olympics but would make a final call after Wimbledon.

There are persistent worries among the general public and medical experts in Japan that the world’s largest sporting event, which was delayed for a year due to the COVID-19 pandemic, could trigger a new wave of infections.

Organizers have barred family members of athletes from attending the Games due to safety protocols, while foreign spectators are also excluded and domestic crowds will be allowed in restricted numbers.

The restrictions on international arrivals would have separated Williams from her daughter Alexis Olympia, who was born in 2017.

“There’s a lot of reasons that I made my Olympic decision,” Williams said, when asked if it would be difficult for her to miss the Games.

“I don’t really want to… I don’t feel like going into them today. Maybe another day. Sorry.

“In the past, it’s (Olympics) been a wonderful place for me. I really haven’t thought about it, so I’m going to keep not thinking about it.”

WIMBLEDON CAMPAIGN
The All England Club’s lush green courts are a happy hunting ground for Williams, who has lifted the Venus Rosewater Dish seven times along with her Olympics singles gold medal.

She has reached the finals in her last four Wimbledons and is one of the favorites to win a record-equaling 24^th Grand Slam with the absence of world No. 2 Naomi Osaka and third-ranked Simona Halep.

“I think that the women’s draw is so deep, regardless to who you play,” said Williams, who will open her campaign against 100^th-ranked Belarusian Aliaksandra Sasnovich.

“You really have to show up now. There’s no longer matches that are going to be a sure walk-through. You just have to really have your head in, have your game on.

“I feel like, if anything, everyone plays really hard. I feel like it doesn’t matter who you play, you have to be ready. Everyone worked really hard to be here.” — Reuters

Allianz PNB Life teams up with UCFC

June 28, 2021 | 6:44 pm

ALLIANZ PNB Life has partnered with United City Football Club (UCFC) for the upcoming AFC Champions League and the 2021 Philippine Football League (PFL). The professional football club based in New Clark City, Tarlac announced its partnership with the major life insurance brand last June 16. Photo shows CEO Alex Grenz and CMO Gino Riola proudly show off the jerseys for the Allianz-sponsored UCFC team.

In the new world

June 28, 2021 | 5:29 pm

2021 GAMA Global-Philippines Board

MESSAGES

The association of insurance leaders, GAMA International Philippines, salutes the inspiring captains of the industry in the all-virtual “26th GAMA Leaders Convention and Honoring Excellence.”

The awardees, to be virtually feted on June 29, are lauded for their outstanding malleability and excellence, fueling their achievements despite the continuing health crisis.

Since the onset of the pandemic, the awardees have exhibited their winning agility and adaptability to respond to an evolving market’s ever-changing needs. They also learned not just to maximize the effective use of digital technology and the virtual platform, but also to generate the same reskilling and upskilling abilities within their teams.

As a result, new leaders from different generations are being continuously molded to be the next stewards steering the industry to success in the face of unprecedented challenges. Most importantly, the safety and security of every Filipino family are assured in the future as we emerge from this so-called “new normal.”

Malleability to navigate the volatile, uncertain, complex, and ambiguous times, while upholding the highest standards of excellence in their field. These qualities are shortened to the letters “M” and “E”, and comprise this year’s convention theme, “The ME in the New Normal.”

The all-virtual event taking place for two days (June 28 for the Convention Day and June 29 for the Awarding Ceremonies) is the organization’s second event using the virtual platform. This comes a year after its first successful foray into online event presentations.

Bravo to the heroes of the industry and thank you for ensuring the protection of the Filipino people.

Susan Lee
GAMA Global-Philippines president

To all our GAMA members and awardees, our warmest congratulations!

Today marks our second year of holding a virtual convention and awarding ceremonies. And every year, they just keep getting better.

This year’s theme is “ME in the New World.” The letter “M” stands for malleable and “E” for Excellent.

What is today’s new world? It is the world of the Digital Age. Everything is online—from our recruitment, to training, to selling and even shopping.

As leaders, we have to be malleable and excellent in the digital age. To be malleable is to adapt without breaking. We can bend but not break. To be excellent is to do extremely good, no matter what the situation is. So let’s all aspire to be malleable and excellent leaders, especially during these challenging times, as we start to learn and navigate the digital ways of running our business.

Our virtual setup will continue as it has become our way of life. So sit back and relax, focus your attention on our esteemed speakers who will share with us some gems of wisdom on how we can improve our leadership skills and character. It has always been our desire to become better leaders and better versions of ourselves. I believe that you will have many “takeaways” from today’s convention.
Tomorrow marks the fulfillment of our hardwork as we receive our awards. Blood, sweat, and tears have been shed all throughout the year to attend to our agents’ needs and to give the best service possible to our valued clients.

Dear leaders, you are so deserving to be given due recognition for your hard work, dedication, and commitment. Congratulations once again, everyone. Keep safe and God bless you all!

PAULINE UCHI
Convention Chair

Improved green building system accounts for community engagement, economic opportunities

June 28, 2021 | 4:38 pm

The Philippine Green Building Council (PHILGBC) updated Berde, a local green building rating system, to include health and wellbeing (which replaces indoor environment quality), community engagement, and economic opportunities — increasing the number of categories in the core framework to 11 from nine.

“We have made improvements on the tool to include clearer intent for all credits and improved guidance on how projects should comply with the different requirements,” said Chester C. dela Cruz, PHILGBC senior staff II, in an e-mail to BusinessWorld.

Launched June 22, the fourth version went through a consensus-building process this April and incorporates the Department of Energy’s 2020 Edition of the Guidelines for Energy Conserving Design of Buildings. This is “to ensure that green buildings align with current energy regulations and best practices,” said Mr. dela Cruz.

Green building projects have continued to register for and undergo Berde certification during the pandemic, said Mr. dela Cruz in a separate Facebook message. These include a project each in Manila and Davao, plus three others in Cebu, all of which have registered this year.

Damosa Diamond Tower in Davao City, an office building in its construction phase, is targeting a 4–5 Star Berde certification. Still in the design phase are two residential buildings and a mixed-use building in Cebu; and a warehouse building in Manila.

The upward trend in projects wanting to get Berde certification is a good indication that the construction is starting to mobilize again, Mr. dela Cruz told BusinessWorld. It has 69 green building projects registered and undergoing various stages of certification in its portfolio, representing a total gross floor area of over 2.8 million square meters for all registered projects.

According to the Department of Energy in a 2020 Asian Development Bank report, building energy consumption accounts for about 15–20% of nationwide electric power consumption. Reducing energy loss through improved efficiency in buildings can deliver both economic and environmental benefits by reducing greenhouse gas emissions and energy bills.

The country’s first certified green project is the Neo Collective in Taguig City, designed by green architect Chad Oppenheim of Oppenheim Architecture + Design and launched in February 17, 2011. Its first tower’s main green feature combines sun shading and a glass curtain wall, which minimizes incident solar heat gain and optimizes natural light. The façade of the Six/NEO reduces air conditioning costs, the costliest energy consumer for a local commercial building, according to PHILGBC. — Patricia B. Mirasol

All washed up: furloughed Londoner finds fortune in the Thames

June 28, 2021 | 4:36 pm

LONDON — Furloughed from her job and confined to London by coronavirus lockdowns, Flora Blathwayt founded a business based on rubbish she retrieves from the muddy banks of the River Thames.

Just over a year after she was struck by the colorful pieces of plastic she collected as part of a river clean-up, the 34-year-old makes and sells thousands of greetings cards decorated with them each week.

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When she moved to Peckham in south-east London, she sent a batch of plastic-decorated cards to nearby residents offering help if they were shielding from coronavirus disease 2019.

“They were all the first washed-up cards,” she said. “Some of my neighbors were like ‘these are amazing, you should start selling these,’” she told Reuters.

She now works on the cards alongside a part-time job for a company selling packaging made from seaweed which she joined after being furloughed by, and then made redundant from, a business that makes sauces from unwanted fruit and vegetables.

A geography graduate, she had no formal art training but enjoys being outside and finding new potential in old buttons or plastic straws while cleaning the river bank for a local environmental charity.

She now produces around 4,000 cards a week, she said, and sees her success as part of a wider movement.

“I think the way forward will be people making things and starting businesses which don’t have so much impact on the environment, whether it’s reusing something, whether it’s upcycling something, whether it’s making something from waste. I think that’s the way forward,” she said.

“So I hope people are going to do more and more — and they are. I’m by no means the first.” — Will Russell/Reuters

S.Korean consortium to produce Russia’s Sputnik Light vaccine

June 28, 2021 | 3:56 pm

SEOUL — Huons Global Co. Ltd. said on Monday its South Korean consortium plans to begin production of a single-dose Sputnik Light coronavirus disease 2019 (COVID-19) vaccine from as early as September.

The plan followed a request by the Russian Direct Investment Fund (RDIF), which markets the vaccine, and production would take place along with Sputnik V vaccines the consortium also intended to make for the sovereign wealth fund, Huons said.

The company said in April it would produce 100 million doses of Sputnik V COVID-19 vaccine a month for export, as Moscow sought to increase production globally to meet rising demand.

Huons said its consortium would begin producing sample batches of both Sputnik V and Light vaccines in August and would respond flexibly to meet demand from the RDIF.

Huons said it was boosting production capacity and aimed to make 30 million doses by the end of this year.

RDIF has a separate production deal with South Korea’s GL Rapha to make more than 150 million doses of the vaccine a year.

South Korea has approved four vaccines so far, from AstraZeneca, Pfizer, Johnson & Johnson, and Moderna, but has not begun reviewing Sputnik V or Sputnik Light for approval. — Sangmi Cha/Reuters

K-pop activism a lifeline for Thailand’s hard-hit tuk tuk drivers

June 28, 2021 | 3:21 pm

BANGKOK — Bangkok tuk tuk taxi driver Samran Thammasa, 39, had never heard of K-pop star Jessica Jung before the coronavirus pandemic, but now the singer’s Thai fans are helping him survive the loss of tourist customers.

His bright green three-wheeled motorcycle rickshaw has been mostly vacant for more than a year. In the past few months, though, he’s earned about 600 baht ($19) a month to feature K-pop ads on his vehicle.

“The extra income may not be a lot for most people but it is for us,” he said, glancing at a shimmering vinyl banner of Jung.

Drivers of Bangkok’s distinctive tuk tuks have been among the hardest-hit by the pandemic’s devastation of Thailand’s all-important tourism industry, left haunting corners of empty city streets complaining of mounting debt.

Samran used to earn around 1,500 baht ($47) a day ferrying foreign tourists around Bangkok. Nearly all of that disappeared as visitor numbers fell by 85% in 2020, and Thailand is not expected to lift its strict border controls for months yet.

Unexpected help came this year from Thailand’s politically disaffected and K-pop-obsessed youth when they stopped buying ads celebrating their idols’ birthdays and album launches from public transport, instead giving their ad money to grassroots businesses, including tuk tuks and street food vendors.

Over the last few months, young fans have mobilized to put up banners of their favorite K-pop idols on the iconic vehicles for a month at a time, providing a new source of income for struggling drivers.

Mr. Samran and many others now drive their empty tuk tuks around Bangkok with a banner of a different K-pop sensation each month, stopping for young Thai fans to take pictures and use their service, often with tips.

POLITICAL EXPRESSION
So far, the initiative has benefited several hundred tuk tuk drivers. There are more than 9,000 tuk tuks registered in Bangkok, according to government data.

The trend has roots in anti-government protests last year that drew tens of thousands of students calling for Prime Minister Prayuth Chan-ocha — who first came to power in a military coup — to step down.

Many K-pop fans were protesters themselves, and last year vowed to pull huge billboard advertising fees from Bangkok’s skytrain and underground subway services — a longstanding lighthearted tradition for different fan groups — after mass transport shut down to try to prevent students from reaching protest sites.

The fans started printing vinyl or cardboard signs and recruiting tuk tuk drivers at garages and on the street — funneling their ad funds to the people who need it most.

“It’s a political expression that we don’t support capitalists. This marked a change from us competing to book skytrain and subway billboards, but now it’s tuk tuks,” said Pichaya Prachathomrong, 27.

Ms. Pichaya herself raised 18,000 baht ($565) among Thai fans of boy band Super Junior to promote member Yesung’s new album, before recruiting 13 tuk tuks via a new booking service on popular messaging application LINE.

The “Tuk Up” service, created by 21-year-old university sophomore Thitipong Lohawech, was initially to help dozens of drivers who rented vehicles from his family’s garage. But now it supports about 300 drivers from all over Bangkok.

“The fans are distributing income to the grassroots, which helps drive social change and support the economy,” said Thitipong.

Drivers said they have seen little of the government’s approved relief of around 967 billion baht ($30 billion), as handouts were mostly only accessible via a mobile wallet application.

“By the time the money reaches us, we’re nearly dead,” said Pairot Suktham, a 54-year-old driver who like many others doesn’t have a smartphone.

“The fans are our life support system and give us hope to keep fighting.” — Patpicha Tanakasempipat/Reuters

Microsoft says new breach discovered in probe of suspected SolarWinds hackers

June 28, 2021 | 2:27 pm

SAN FRANCISCO — Microsoft said on Friday an attacker had won access to one of its customer-service agents and then used information from that to launch hacking attempts against customers.

The company said it had found the compromise during its response to hacks by a team it identifies as responsible for earlier major breaches at SolarWinds and Microsoft.

Microsoft said it had warned the affected customers. A copy of one warning seen by Reuters said the attacker belonged to the group Microsoft calls Nobelium and that it had access during the second half of May.

“A sophisticated Nation-State associated actor that Microsoft identifies as NOBELLIUM accessed Microsoft customer support tools to review information regarding your Microsoft Services subscriptions,” the warning reads in part. The US government has publicly attributed the earlier attacks to the Russian government, which denies involvement.

When Reuters asked about that warning, Microsoft announced the breach publicly.

After commenting on a broader phishing campaign, it said had compromised a small number of entities, Microsoft said it had also found the breach of its own agent, who it said had limited powers.

The agent could see billing contact information and what services the customers pay for, among other things.

“The actor used this information in some cases to launch highly-targeted attacks as part of their broader campaign,” Microsoft said.

Microsoft warned affected customers to be careful about communications to their billing contacts and consider changing those usernames and e-mail addresses, as well as barring old usernames from logging in.

Microsoft said it was aware of three entities that had been compromised in the phishing campaign.

It did not immediately clarify whether any had been among those whose data was viewed through the support agent, or if the agent had been tricked by the broader campaign.

Microsoft did not say whether the agent was at a contractor or a direct employee.

A spokesman said the latest breach by the threat actor was not part of Nobelium’s previous successful attack on Microsoft, in which it obtained some source code.

In the SolarWinds attack, the group altered code at that company to access SolarWinds customers, including nine US federal agencies.

At the SolarWinds customers and others, the attackers also took advantage of weaknesses in the way Microsoft programs were configured, according to the Department of Homeland Security.

Microsoft later said the group had compromised its own employee accounts and taken software instructions governing how Microsoft verifies user identities.

A White House official said the latest intrusion and phishing campaign was far less serious than the SolarWinds fiasco.

“This appears to be largely unsuccessful, run-of-the-mill espionage,” the official said.

Scott McConnell, a spokesman for Homeland Security’s Cybersecurity and Infrastructure Security Agency, said the defensive group “is working with Microsoft and our interagency partners to evaluate the impact. We stand ready to assist any affected entities.”

A SolarWinds spokesperson said, “The latest cyberattack reported by Microsoft does not involve our company or our customers in any way.” — Joseph Menn/Reuters

J&T Express to honor riders as modern heroes

June 28, 2021 | 2:19 pm

Bayani sa Makabagong Panahon campaign rewards exemplary delivery frontliners

This July, new heroes will be in town.

E-commerce delivery giant J&T Express Philippines will be holding J&T Heroes: Bayani sa Makabagong Panahon to recognize the contributions of its delivery riders, on July 2, 2021 via livestream on their official Facebook page.

Vice President of J&T Express Philippines Zoe Chi said the campaign exemplifies the company’s bayanihan spirt by “honoring our own frontliners who continuously support the company and Filipino community through these challenging times. Through this, we hope that everyone will recognize their dedication and personal sacrifices to provide us with safe, fast, and reliable delivery services so that we can continue on with our lives despite the pandemic.”

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Out of hundreds of entries nationwide, only one will be named Hero Rider of the Year and will receive a new motorcycle as the grand prize. Criteria for J&T Heroes include exemplary performance with a 95-100% high success delivery rate; company loyalty with tenure since February 2020; a high degree of professionalism; and service satisfaction backed by testimonials from regular customers.

The virtual event will be livestreamed at 5:00 PM at www.facebook.com/jntexpressphilippines and will be hosted by one of the famoust actors in the industry Mr. Xian Lim, supported with a performance by singer and former Tawag ng Tanghalan contestant Gigi de Lana. The event is supported by J&T’s brand partners HINO, FOTON, Mobile Legends Bang Bang, Realme, Prestone, Clorox, Gcash, and Shopee. Secondary local business sponsors include BELO Intelligent Skincare, Gfoxx International, ELITE Sales, American Authentic Apparel, Tink Custom Print, Seek Shine, Organic Skin, K-Cool, Leupp Watches, Jane Secret, Pocari Sweat and KUMU.

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J&T Express strives to empower and prioritize both its customers and employees. Last month, the company released a second tranche of employee “ayuda” in the form of groceries and essentials to augment the daily needs of team members who have been affected by the lockdown. J&T has also extended help through various logistics services for COVID response and immediate disaster relief. The company is also dedicated to helping local online businesses grow by providing quality delivery services.

J&T Express Philippines currently has 600 branches caters to almost every province in the country 365 days a year even on holidays. Customers can easily track their packages real-time via J&T’s service platforms: mobile application, website, hotline, and social media. To know more about the company’s services, visit https://www.jtexpress.ph/.

Hotel frontliners, hospitality heroes

June 28, 2021 | 1:46 pm

Not all heroes wear capes, now the new crop of heroes we look up to are clad in white coats, scrub caps, and the ever-elusive Personal Protective Equipment (PPEs). Our heroes in the medical field have been fighting at the frontlines for over a year, as we remain mired in a global health crisis. To them, we are truly indebted.

Recently, the Inter-Agency Task Force on Emerging Infectious Diseases (IATF) has also recognized the valiant effort and sacrifice of the men and women of our tourism sector. Frontliners of the hospitality industry have also been serving in the frontlines, welcoming and providing a safe haven for our returning countrymen and essential travelers.

This June, Resorts World Manila (RWM) tips its hat to all frontliners with Frontliners Month. RWM has a penchant for celebrating life’s greatest joys and achievements, as the company fully embraced its credo of making the most out of life. In celebration of Frontliners Month, RWM shines the spotlight on its many hotel frontliners that remained steadfast on their duty even during these times of great adversity and continued to represent the company’s commitment to thrill the world every chance they get.

Maricris Manimbo, a Guest Service Leader in Holiday Inn Express Manila Newport City (HIEx), recalls 2020 as one of the more difficult years in her career, “as early as January, we started seeing a series of cancellations of prior reservations due to the eruption of Taal volcano, and then immediately after, concerns about the virus began surfacing.” While some hotels shuttered its doors, HIEx remained operational to accommodate outbound travellers in March amid growing concerns about the pandemic. “Before the shutdown, we were servicing a lot of outbound foreign nationals. And then, immediately after, we applied to be a quarantine hotel for our returning kababayan.”

At Savoy Hotel Manila, Front Office Associate Joshua Randel Tandoc initially feared for his personal safety and job security at the height of the pandemic and initial lockdown. He shared, “we were slowed down during the height of the pandemic last year. It was really a difficult time since most of our colleagues were unable to report to work due to the lockdown. Of course, we were scared, these were uncertain times, a lot of hotels were closing down at the time. Despite dealing with the inevitable, we were able to turn this season into an opportunity to learn more, grow together, and showcase the true meaning of the Filipino hospitality.”

Joshua Randel Tandoc of Savoy Hotel Manila

In these hard situations, even the smallest things can go a long way. At Belmont Hotel Manila, Food and Beverage Service Ambassador Trixie Anne Paraiso shares how they were able to provide respite to returning OFWs who are staying on mandatory quarantine in the hotel, “the pandemic has drastically changed how we approach guest service. There was an adjustment, from being able to interact face-to-face, now everything is done by phone. It’s hard when we have been so used to seeing our guests and greeting them with a smile, now we can only talk to them through the phones. It’s hard because we know it is difficult for them, too. Most of them just want to be reunited with their families. So, for our part, we really want to provide the best service possible since the hotel becomes their first home back in the country. We try to make them feel at home by checking up on them from time to time through the phone, and addressing them by their names. The guests really appreciate even the simple things that we do for them, sometimes they leave us small thank you notes saying how much they enjoyed their stay with us. These small acts of kindness in the chaos really keep us going. It puts into perspective why we do what we do.”

The pandemic has truly disrupted lives and livelihoods all over the world. The mandates for quarantine and safety guidelines have driven a wedge between people and how they interact, yet in spite of this, the Filipino spirit and hospitality exudes the necessary warmth that can keep the human connection alive and well.

To show appreciation and deep gratitude for all frontline workers, RWM is dedicating a whole month of exciting deals and offers with National Frontliners Month. To know more about the RWM’s Frontliners Month offers, visit www.rwmanila.com or follow RWM’s official social media accounts, @rwmanila on Facebook and Twitter, and @resortsworldmanila on Instagram.

Shut off from the world, Australia fosters red-hot growth at home

June 28, 2021 | 1:34 pm

22136171070_2baedb6e01_c — Image via Mertie/Flickr/ CC BY 2.0

SYDNEY — A year after the coronavirus pandemic pummeled Australia’s economy, IT contractor Ashok Ravindran has a nice problem: deciding which of three job offers to accept.

His happy dilemma is a reflection of an economy that is now larger than its pre-pandemic level. Exports are booming, consumer and business confidence are high and employment has beaten all expectations, with job vacancy rates at a 12 1/2 year high.

The Sydney resident only quit his last job two weeks ago.

“The market is really hot right now. I tried a few companies just to test waters and received three offers,” Mr. Ravindran told Reuters. “I got counter offers from each of them. That made it harder to say no as you don’t want to burn your bridges.”

Far from last year’s dire predictions, Australia’s unemployment rate has slid to a pre-pandemic level of 5.1%, home building approvals are at a record high and consumer spending is euphoric.

The A$2 trillion ($1.5 trillion) economy is now larger than before the once-in-a-century pandemic hit its shores. Sporting events are again a major spectacle and pubs overflow with patrons. In many states and territories, masks are an uncommon sight.

If anything, the very constraints that were expected to hurt demand, such as closed international borders and limited domestic mobility, have serendipitously channeled new sources of growth.

Instead of travelling to Bali or Bangkok, Australians are holidaying locally. Working from home requirements have prompted many to base themselves in new residences outside major cities, propping up demand in smaller towns. Physical distancing rules have spurred online retail sales while dining out has never been this popular.

“Australia is breaking records in what must be one of the fastest economic recoveries in modern history,” said AMP Capital Australian Equities Portfolio Manager Dermot Ryan.

“The economy is riding the wave of a triple boom in mining, housing, and corporate profitability.”

While the country is in the midst of a worsening trade war with the world’s largest trading nation, China, Australia’s exports are miraculously booming, thanks to soaring prices of iron ore and newer markets in Asia and Middle East to sell to.

Economists expect this golden run to extend awhile.

Australia’s swift economic recovery from its first recession in three decades in 2020 has been driven by its ability to largely re-open from coronavirus lockdowns earlier than expected and solid monetary and fiscal stimulus.

The combination has triggered a property bull run, freeing up a huge amount of capital that was prudently held back by banks in 2020 in case of a COVID-induced housing crash.

AMP’s Mr. Ryan said both the mining and banking sectors have the potential to return over A$50 billion each to investors over the coming financial year.

The surge in home prices has sparked a building boom, sending shares of building products makers such as James Hardie and Brickworks to record highs. Shares of Australia’s top mortgage lender Commonwealth Bank, are at all-time highs after ceremoniously surpassing A$100 on May 28.

In another sign of solid business recovery, CBA this month said its financing of light commercial vehicles is up a startling 187% since January over the past year while loans for equipment and machinery jumped 21% in May, compared with the same time last year.

SHORTAGES

Consumers, too, are feeling confident with survey results consistently showing optimists far outnumber pessimists.

Indeed, retail sales have surged 25% on a year ago and vehicle sales have skyrocketed 68%. Household goods retailing has boomed, led by appliances and furniture as people renovate homes or build new houses.

Demand is so strong that home supplies and hardware chain Bunnings is now facing a timber shortage.

Companies are also facing a labor shortage with tens of thousands of Australian citizens still stuck overseas.

Their fate hangs in the air as Australia has pledged to keep borders shut well into next year, which also means skilled migration — which was propelling the economy until 2019 — is practically impossible.

The decision to keep borders closed is popular with the general public with recent state elections showing that leaders who take a hardline stance on COVID are heavily favored.

Tight border controls, slower interstate migration together with solid business confidence and profitability have helped tighten the labour market, with some sectors such as IT, engineering, hospitality and healthcare facing severe shortages.

This has frustrated businesses who are calling for border restrictions to be eased.

“The current international border setting is virtually no-one-in and no-one-out,” said Innes Willox, chief executive of Australia’s employer association Ai Group.

“This needs to give way to a more sensible position and a much more ambitious border opening goal than the July 2022 target currently adopted by the Federal Government,” Mr. Willox added.

“Our critical skill shortages are only going to get worse the longer our border remains closed.”

For the likes of Mr. Ravindran, however, there has never been a better time to look for work. “I am confident my contract will be renewed when it comes up for renewal. There is enough demand right now.” — Swati Pandey/Reuters

Seven killed, many injured in blast in Bangladesh

June 28, 2021 | 12:37 pm

DHAKA — At least seven people were killed and more than 50 people were injured in an explosion in the Bangladeshi capital late on Sunday, police said.

The cause of the blast, which occurred on the ground floor of a three-story building on a busy street in Dhaka’a Moghbazar area, was not immediately known.

“We have information so far that seven people died in the incident and 50 others have been admitted to hospitals,” Shafiqul Islam, Dhaka city police commissioner, told reporters after visiting the scene.

Seven other nearby buildings and three buses were damaged in the explosion, he said.

Television footage showed mangled pillars, broken concrete and glass shards strewn across the street. — Reuters