Australia foreign student cap causes anxiety at home and abroad

Anannyaa Gupta Anannyaa GuptaAnannyaa Gupta

The “dream” of Anannyaa Gupta’s life was to finish her experiments in Australia.

” Their education program is one of the best in the world”, the 21-year-old, from the American town of Hyderabad, explains.

After earning her bachelor’s degree at Melbourne’s Monash University in July, she applied for the connoisseur degree to work as a social worker, a position that Australia is desperate to fill in the face of labor shortages.

” I really want to study around, provide my skills and lead to society”, she says.

However, Ms. Gupta is one of the current and future international students who has been sucked into a panic as a result of the administration’s plan to reduce undergraduate enrollment abroad.

The new cap- which would significantly reduce new attendance- is needed to make the A$ 47.8bn ( £24.6bn,$ 32bn ) education sector more sustainable, the government says.

It is the most contentious of new changes that have also made applicants for student visas subject to stricter English language requirements and increased attention of those pursuing further education. Application fees for non-refundable visas have likewise doubled.

However, the market and its backers say they were n’t properly consulted, and that the modifications could devastate the economy, cause job losses and destruction Australia’s status, all while punishing both domestic and international students.

” ]It ] sends out the signal that Australia is not a welcoming place”, says Matthew Brown, deputy chief executive of the Group of Eight ( Go8 ), a body which represents Australia’s top ranked universities.

Education is Australia’s third biggest export, trailing just mine materials. International students, who pay almost half as much as American students on regular, prop up some institutions, subsidising research, scholarships, and home study fees. At the University of Sydney, for instance, they account for over 40 % of profit.

Prior to a national election in the fall of 2017, Prime Minister Anthony Albanese’s administration is under pressure to lower record levels of relocation. This will help improve the value of housing and lessen a cost-of-living crisis. And global students- who totalled 793, 335 last trimester- have become a goal.

The government has proposed to cap new foreign enrolments at 270,000 for 2025, which it says is a return to pre-pandemic levels. An accurate comparison with previous years is not possible because publicly available data is inadequate, according to an education expert.

According to education secretary Jason Clare, each higher education institution will have its own unique cap, with the most expensive cuts going to be made by providers of vocational education and training. Of the institutions affected, those in money cities will see the largest decreases.

Instead of crowded, crowded big cities, the government says the policy may direct students to local towns and colleges that need them.

Additionally, it asserts that the changes are intended to shield potential students from “unethical” providers, alleging that some accept applicants without satisfactory academic credentials or language proficiency and enroll students who prefer to work rather than study.

These reforms are intended to improve and make foreign education more equitable and put it on a more lasting footing going forward, according to Clare.

Getty Images Jason Clare in parliamentGetty Images

Abul Rizvi, a former state official who shaped Australia’s experienced migration policy, says the “underfunded” industry has “long been chasing fee income from international students and sacrificing learning integrity in the process”.

According to Dr. Brown, “every college is having a discussion about whether they’re too dependent on foreign student income” and how to address this.

However, the sector’s reaction to the caps announcement was generally angry.

The Go8 has called the proposed legislation “draconian”, while some accused the state of “wilfully weakening” the market and of using global students as” cannon feed in a poll-driven fight over movement”.

The government has not specified how long the caps will remain in effect, but Dr. Brown claims that according to their calculations, the Go8 will lose A$ 1 billion in members in just the first year. The broader economy would suffer a A$ 5.3bn hit, resulting in the loss of 20, 000 jobs, according to their research.

The Australian Treasury Department has described those projections as “doubtful,” but it has n’t released its own modeling of the changes ‘ impact on the economy.

Dr. Brown also warned that the caps could force some universities to revoke offers made to foreign students, stifle important research programs, and increase tuition costs for some Australian students.

Getty Images People stand outside a University of Sydney buildingGetty Images

However a handful of smaller universities, for whom the caps are beneficial, welcomed the news.

La Trobe University’s Vice-Chancellor Theo Farrell said they supported” transparent and proportionate measures” to manage international student growth in Australia.

He said,” We recognize that a lot of people in the political and community support net migration rates.”

But Dr Brown argues there is also a hit to Australia’s reputation which is harder to quantify, pointing to Canada as a warning. Although there was a cap on foreign students introduced this year, industry bodies claim that enrollment has fallen significantly below that figure because anxious students would prefer to apply for courses of study with greater certainty.

It is not the minister’s responsibility to unilaterally decide on caps based on some formula that serves a political goal, but we need an international education system that has managed growth built in.

The government should consider introducing a minimum university entrance exam score, according to Mr. Rizvi, rather than going ahead with the proposed caps in Australia.

He wrote on X,” We’re shooting ourselves in the foot,” not to dissuade poor students but to discourage high-achieving students who have options.

Meanwhile in parliament, the Greens have said the policy amounts to “racist dog-whistling”, and one of the government’s MPs has broken ranks to attack it too.

” A hard cap would be bad for Australia’s human capital and the talent pipeline, bad for soft power and bad for academic excellence and research”, Julian Hill told The Australian newspaper.

But despite the criticisms, the bill legislating the limits- set to be debated in parliament this week- is expected to pass, with the opposition’s support.

Clare acknowledged that some service providers may have to make difficult budget decisions, but she argued that any claim that the policy” somehow is tearing down international education is absolutely and fundamentally false.”

The changes are causing students a lot of anxiety and confusion, but with less than two months until they are supposed to go into effect.

The news is spreading like a lead balloon in China and India, Australia’s two biggest international markets.

Students in India, who most often come from middle-class families and spend years planning and preparing for their education abroad, will be very burdened by this. Their dreams will be quashed”, Amritsar-based immigration consultant Rupinder Singh told the BBC.

Alessandro Russo/Monash University Vedant Gadhavi and his girlfriend Ayushi pose for a photo outside an Indian restaurant in MelbourneAlessandro Russo/Monash University

Vedant Gadhavi, a student at Monash University, claims that some of his Gujarati friends who were planning to study abroad for their master’s degrees were spooked.

They appear to have had their plans altered a little as a result of the constant change.

Jenny, a senior high school student in Anhui province in China, claims that attending an Australian university with a high standard of education is “easier” than enrolling in a fiercely competitive Chinese university.

” It’s all up in the air now”, she tells the BBC.

She adds that going to a lower-ranked university in a regional location is not an option for her or her peers:” We]just ] wo n’t go to Australia at all”.

Rishika Agrawal, president of the Australian National University’s International Students ‘ Department, says the proposed laws have stoked other uneasy feelings.

” Undoubtedly there are other students who believe that the government is showing more hostility toward immigrants in Australia.”

And, she adds, with the contributions to society made by international students often overlooked, while their post-graduate employment options dry up, there’s growing resentment.

They return to their home countries after putting in a lot of money toward their education, which they do not actually get paid for.

” They definitely do feel like cash cows.”

As the debate continues in parliament, there’s been some relief for Anannya. She soon received the official master’s enrolment certificate and new study visa she feared would never arrive after speaking with the BBC and only weeks away from the start of her course.

However, many more students are still awaiting and worrying.

” If I were in their shoes, I’d feel very helpless, very disappointed. According to Ritsika, it is already robbing Australia of its past credibility.

Fan Wang in Singapore and Zoya Mateen in Delhi both provided additional reporting.

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China calculates impact of losing most favored nation status – Asia Times

If the United States revokes its previous status as the most favored nation ( MFN), permanent normal trade relations ( PNTR ), China is expected to experience a 3.4 % deflationary pressure. &nbsp,

Since Donald Trump’s win in the Republican presidential election on November 5 and his pledge to raise taxes on all imported Chinese goods to 60 %, Beijing’s worries about losing its Nafta status have grown. &nbsp,

The Restoring Trade Fairness Act, which calls for the end of China’s PNTR, was introduced on November 14th, adding to the already-graved controversy.

According to Moolenaar, the US Congress voted to grant China PNTR status in 2000 in the hopes that it would deregulate and follow good trading techniques, but” this gamble failed.”

” Our country has been deposed by our country, our manufacturing base has eroded, and our most important adversary has lost work,” says PNTR. He claimed that the CCP has also abused our markets and violated the hopes for liberty and fair rivals that were present when the totalitarian regime was granted the PNTR more than 20 years ago.

The Neither Permanent nor Standard Trade Relations Act was introduced by Democratic Senators Marco Rubio, Tom Cotton, and Josh Hawley on September 26. Trump announced Rubio as the next US secretary of state on November 13. Rubio is likely to get Senate verification and started his phrase after Trump’s January 20, 2025, opening.

One of the most disastrous selections our nation has ever made was to provide Communist China the same business benefits that we do to our greatest allies,” Rubio said in a media release from September. ” Our government’s trade deficit with China more than quadrupled, and we exported millions of American jobs. Ending ordinary trade relations with China is a no-brainer”.

Three scenarios&nbsp,

In October, Shenwan Hongyuan Securities, a state-owned brokerage company, commissioned Infinite-Sum Modeling, a Shenzhen-based discussing company, to do research on conceivable US tax hikes against Chinese products.

” If the US revokes China’s MFN status, it will impose an average of more than 60 % tariffs on Chinese goods”, calculating from the facts that the US imposes” an average 42 % tariff for non MFNs, and there is an additional 20 % Section 301 tariff against Chinese products”, Zhao Wei, chief economist of Shenwan Hongyaun, writes in a research report.

He claims that 48 % of US imports of Chinese goods have stopped being subject to the low MFN tariff after a trade war started in 2018. He quotes a report from the Peterson Institute for International Economics, which states that the average tariff on Chinese goods was 19.3 % in June 2023, up from about 2.3 % in 2018. &nbsp,

If a new business war breaks out between China and the US, Shenwan Hongyuan created financial projections for three cases:

  • 1. The US imposes a 60 % tax on Chinese goods,
  • 2. The US imposes a 60 % tariff on Chinese goods, and a 10 % tariff on all other imported goods,
  • 3. The US imposes a 60 % tariff on Chinese goods, and a 10 % tariff on all other imported goods, while China retaliates with a 60 % tariff against American goods.
Impact of Sino-US trade war
Credit: Asia Times

The US would be able to reduce its trade deficit under all three cases, but it would also experience from slower home use and economic expansion. &nbsp,

Zhao explains that the US would prefer scenario 2 or 3, where its GDP may decline significantly over that of China. &nbsp,

In an article published on November 15, a Jiangsu-based critic who uses the pseudonym” Beibei” claims that if China’s Import position is voided by the US, Sino-US business relations and global supply chains will suffer significantly. &nbsp,

” If this actually happens, tax barriers will substantially increase, resulting in a plummeting of the deal between China and the US, Beibei says”. Orders will shrink and costs will rise for several Chinese exporters. Some small-and-medium-sized businesses may also face risks of debt.”

The journalist claims that by concentrating more on local businesses and some Belt and Road nations, China will be able to overcome these obstacles. She claims that Chinese companies could also benefit from this opportunity to move from labor-intensive to knowledge-based industries and increase the value of their goods. &nbsp,

She adds that rising costs and potential supply chain disruptions may harm US businesses. She claims that prices will rise for US suppliers and customers who rely on high-quality, low-cost Chinese products.

Since Trump won the election, the Chinese foreign government has so far refused to comment on potential US tax excursions and called the subject” speculative. ” &nbsp,

Foreign envoy to the US, Xie Feng, stated in a Hong Kong conference on November 15 that cooperation between China and the US has never been a zero-sum sport. &nbsp,

He claimed that 70 000 US businesses can generate US$$ 50 billion in China with the bilateral trade of more than US$ 660 billion annually. He added that Chinese goods may lower American customers ‘ costs of living.

The Asia Times has Yong Jian as a source. He is a Chinese blogger who specializes in Chinese technologies, economy and politics. &nbsp,

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Singapore’s central bank lays out next steps to help Asia leave coal behind

Based on these studies, the government’s most recent time record, which was compiled from discussions with its 30-plus users and experts in coal change and coal markets, identifies risks and proposes practical solutions.

Gillian Tan, the agency’s key sustainability official, said part of the government’s work is understanding buyers ‘ considerations. What do they want change credits to have and what qualities do they want in coal credits?

” We want to make sure that we can create a strong network of great integrity certificates that the business can rely on to ensure that carbon pollution have been actually reduced,” she said.

Ms. Tan added that establishing a robust business requires a balance between supply and demand.

NEED FOR Rules

By the COP of next year, the central bank is currently developing a comprehensive handbook that can be used throughout Asia.

A set of guidelines is necessary, according to Sharad Somani, partner and head of business consulting firm KPMG Singapore, to ensure the system’s dignity and respect, and ensure the source of credits is reliable.

There must also be a need for such certificates, he added. This means stakeholders at COP summits – such as the ongoing&nbsp, COP29&nbsp, in Baku, Azerbaijan – may push for bilateral deals on the Paris Agreement, linking method to generate business demand, he said.

Countries can move or buy coal funds earned from reducing greenhouse gas emissions in accordance with Article 6 of the deal to assist other countries in meeting their climate goals.

” We ( also ) have to have a proper documentation process, to ensure that every credit that has been generated is documented and extinguished. Just when we can meet need, supply, and technology, in my opinion, will transition credits mature in this area,” said Mr. Somani.

Singapore added that in accordance with the concepts of “green” or” transitional actions” the country has also endorsed the European Union and China.

Investors will now be able to identify what activities they can invest their money in to achieve green goals with this world-first nomenclature.

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Government to provide funds to firms to send employees overseas for career development

BUILDING A Dynamic Labor

The program is part of the administration’s efforts to build a nationally competitive workforce. &nbsp,

Our businesses need employees with experience in foreign markets, expertise in the local working atmosphere, and the ability to work with multiple-geographical groups, according to Dr. Tan. &nbsp,

The secretary acknowledged the problems some may experience in moving abroad, citing problems on the company’s and company’s sides, such as losing workers or home responsibilities. &nbsp,

Nevertheless, he shared that from his private practice, international contact may be “hugely rewarding”.

Singapore has become known as a world hub and hub, according to Dr. Tan. &nbsp,

” As a small island state, we have no other choice. We must conduct company with the earth to ensure that we can survive.

According to Dr. Tan, the program is the most recent addition to the president’s arsenal of initiatives to support business ‘ efforts to internationalize.

He added that it will also aid in attracting and keeping Taiwanese ability. &nbsp,

The Overseas Markets Immersion Programme, according to Ms. Dilys Boey, the company’s CEO, marked a significant milestone in its efforts to equip Singapore’s labor with the skills needed to compete in difficult overseas markets. &nbsp,

By putting our talents to work in various outside markets, we hope to help people manage their careers and take advantage of new career opportunities while strengthening Singapore’s reputation as a hub for talent from other countries, she said. &nbsp,

” This program reflects WSG’s commitment to creating a workplace that is capable of thriving in a global market that is extremely interconnected,” said the program’s creator.

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Rubio and Trump agree on Ukraine but not on NATO – Asia Times

Nearly all of Donald Trump’s nominations for crucial roles in his presidency have been unconventional. Pete Hegseth, a Fox News broadcaster, has been named as Trump’s potential security secretary.

Vivek Ramaswamy, a founder of a pharmaceutical company, has been appointed as the head of the previously named Department of Government Performance, replacing Elon Musk. South Dakota Governor Kristi Noem has been chosen as the Department of Homeland Security director despite having much experience with frontier safety.

Linda McMahon, World Wrestling Entertainment co-founder, has been mentioned as Trump’s good pick for secretary of commerce. These individuals have all shown a great deal of loyalty to Trump. Some candidates have public-selection experience.

That makes the election of Florida’s Senator Marco Rubio a little unexpected. Rubio was n’t an election sceptic, something that the other takes have been outspoken about, and he has years of experience as a legislator. Rubio even made a well-known mockery of Trump’s arms during the 2016 Republican primary campaign.

In Trump’s common clothing, he responded by referring to Rubio as” Little Marco”. However, it is obvious that these two have concealed the knife. Rubio eventually became one of Trump’s biggest supporters and ended up running for him.

What makes Rubio a surprising choice as Trump’s foreign policy president? Rubio is less fond of Russia and is seen as more of a conventional intervention. He called Vladimir Putin a “killer”, although within the last two years, Rubio has moderated his place.

This month, Rubio said that, although he supports Ukraine, the battle has to stop. Rubio argued that the US was providing for a standoff without protecting Ukraine or US objectives. He continued,” But that does n’t mean that we are happy or excited about Vladimir Putin’s actions.”

In April 2024, Rubio was also one of the Republicans who abstained from the Ukraine support costs. Rubio is likely to back Trump’s want to negotiate with Russia, which would leave Ukraine with no choice but to surrender substantial territory.

Rubio on NATO

Rubio has obviously changed his mind about Ukraine to fit Trump’s, but he does not agree with Trump on NATO. In fact, Rubio and Democrat Senator Tim Kaine cosponsored legislation that would require the Senate to approve a removal.

This likely represents a point of disagreement between Trump and NATO, but other NATO member countries may interpret it as a positive indicator.

Trump, nevertheless, seems to be willing to look past this because he agrees with Rubio’s aggressive approach to China and Iran. Rubio has suggested that US investment industry be made illegal for businesses run by the Chinese Communist Party or the Chinese government.

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Rubio also supported a law to stop the transfer of Chinese goods that were produced using forced labour, and he also urged electric cars to not be subject to subsidies.

In terms of Iran, Rubio can see no difference between Masoud Pezeshkian’s command and that of hardliner Egyptian ex-president Ebrahim Raisi.

Rubio has advocated for tougher sanctions on Iran, and more force applied to suppress the government’s nuclear ambitions. A fervent admirer of Israel, Rubio has argued that Iran’s main goal is to make Israel unliveable.

Rubio would become the first Spanish British secretary of state if he was confirmed. He is fluent in Spanish. In Latin American elections, Trump has demonstrated blind belief in Rubio’s understanding of the area.

Rubio played about a secretary of state in Trump’s first word, which was undoubtedly a key part of US foreign policy toward Latin America. Rubio worked to revers the Obama administration’s softening of Cuba’s grip and impose stricter sanctions on the country’s defense.

Rubio’s involvement in Venezuela’s crackdown was likewise significant. Rubio has made it clear that there is no way to resolve Venezuela’s status as a “narco” position.

Rubio has stated that a military coup against Venezuelan dictator Nicolas Maduro may be open to all possibilities, and he has not ruled out a military coup. Rubio will likely recommend for far harsher restrictions against Venezuela, despite the fact that it’s unlikely that the US would enter.

But what best defines Rubio’s foreign policy? He certainly wants to take a tough approach towards America’s opponents, but had n’t recommend military invasions.

Transactional Trumpist

More important, Rubio is very interpersonal. In order to be a part of Trump’s inner group, he has made peace with changing his mind on important foreign policy issues.

Rubio will now have the freedom to clear US foreign policy in Latin America and the highly successful secretary of state position if he refused to support Ukraine in order to more strongly resemble the MAGA agenda.

While Trump’s major foreign policy objective is to try to maintain an” America first” mission, where US national interests are always commonplace, and to be unexpected, Rubio may take some predictability to his role.

He may be closer in perspective to Rex Tillerson, Trump’s former secretary of state who was ousted in 2018. Tillerson claimed that Trump reportedly referred to him as a “moron” because he had little knowledge of global activities behind closed doors. Or he might be more like former Secretary of State Mike Pompeo, who often sang Trump’s compliments.

Pompeo evidently and undoubtedly did have democratic aspirations after his time in the cabinet, despite Tillerson’s. He may also pose a threat to JD Vance’s rising celebrity status.

Given Trump’s present dominance of the Democratic party, there are likely to be hostilities between Trump and Rubio. We might anticipate Rubio rolling into Trump’s camp. His positions may get a little more explicit once he is in place and in charge of global conversations.

Natasha Lindstaedt is a professor in the Department of Government, University of Essex.

The Conversation has republished this essay under a Creative Commons license. Read the original content.

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Gamuda Berhad: Pioneering digital innovation in construction

  • 40 % faster than traditional methods, thanks to Gamba Next-Gen Digital IBS.
  • In Australia’s Sydney Metro West tunnelling projects, an internally developed automatic hole bore system was used.

Gamuda’s participation in ICW and BuildXpo 2024 reflects its commitment to driving the construction sector forward

Gamuda Berhad has established itself as a significant player in the construction and infrastructure sectors in a time when online transformation is changing industries. This local company is not just adapting to alter, it’s influencing it, setting new standards for performance, conservation, and technological inclusion in an industry often seen as standard.

The Digital Revolution and Innovation in Development

At the heart of Gamuda’s success is its unwavering determination to modern technology. The Group’s commitment to driving change in digital transformation is demonstrated by its early adoption of the crucial national climate mitigation initiative, SMART ( Stormwater Management and Road Tunnel ).

” Innovation has been a proper difference for us since 1976, enabling us to stay ahead of the competition”, says Justin Chin Jing Ho, managing director of Gamuda Engineering.

The company’s digital transformation journey marked a significant milestone with the establishment of the Gamuda Excellence Transformation ( GET ) program in 2021. By deploying cutting-edge systems across the company, this effort has elevated Gamuda’s reputation for electronic superiority. At its core is the Gamuda Digital Operating System ( GDOS), a cloud-based platform that supports 4D and 5D Building Information Modelling ( BIM ) systems, Gamuda’s Next-Gen Digital Industrialised Building System ( IBS ), and Generative Artificial Intelligence ( GenAI ).

Regional Expertise Showcase at ICW and BuildXpo 2024

At the International Construction Week ( ICW) and the Malaysia International Building and Construction Industry Exhibition ( BuildXpo ) held recently at the Kuala Lumpur Convention Centre, Gamuda showcased its regional expertise in green construction solutions. The exhibition was organised into five clusters: Building, Machinery, Technology, Construction Materials, and Related Services, and featured key innovations which include Building Information Modelling ( BIM), AI applications, robotics, drone technology, and smart building solutions.

Gamuda’s Next-Gen Digital Industrialized Building System ( Next-Gen Digital IBS ), one of her most notable showcases, is one of its key highlights.

Next-Gen Digital IBS from Gamuda has revolutionized the building industry by enabling building component fabrication in handled factory settings. The Group’s online IBS collection includes data center, high-rise residential and commercial, as well as landed home.

From sky design, BIM integration, mechanical automation and production – this whole suite of online solutions offers flexibility in design, quick construction and superior quality finish.

Projects are now completed 40 % faster than traditional methods, significantly accelerating timelines and enhancing productivity. Up to 55 % of on-site labor requirements have been reduced, indicating a significant shift toward more cost-effective and less labor-intensive practices. Environmental benefits are also notable, with a 40 % reduction in embodied carbon, aligning with Gamuda’s commitment to sustainability.

But Gamuda’s innovation does n’t stop there. The company’s first autonomous tunnel bore machine (A-TBM ), which uses internal AI algorithms, can navigate without the need for a human to do so. This breakthrough technology, second deployed in Malaysia’s MRT Putrajaya Line, has now been introduced in Australia’s Sydney Metro West tunnelling functions, marking a first for the region.

Developed in-house, Gamuda’s A-TBM utilises custom artificial intelligence algorithms for autonomous control of TBM operations.

In a bold move that further cements its position as an industry leader, Gamuda is integrating generative AI ( GenAI ) into its operations. This cutting-edge technology is being used in a variety of firm processes:

    Tunnelling Operations: A GenAI-powered verbal agent for the Tunnel Insight system, built using Google Cloud’s Gemini designs on the Vertex AI program.

  1. Tender Proposals: Leveraging Vertex AI Search and Conversation to create conceptual research and talk applications for industry intelligence, design, and professional teams.
  2. Employee Empowerment: The creation of Bot Unify, an internal industry enabling employees to develop customized GenAI software.

Fundamental to ecology

The optimistic climate goals set forth in the Gamuda Green Plan 2025 reflect Gamuda’s commitment to sustainability. The plan includes the Group’s commitments to reducing emissions intensity by 30 % by 2025 and 45 % by 2030, with a goal to achieve net zero by 2050. &nbsp, Guided by four columns: Sustainable Planning and Design for Development, Our Group in Our Company, Environmental and Biodiversity Conservation, and Enhancing Sustainability via Digitalisation. Gamuda Green Plan 2025 illustrates Gamuda’s systematic approach to business progress with environmental management.

International Impact and Future Outlook

Gamuda’s local operations have improved as a result of its electronic transformation, which has also made it more profitable. The company’s modern techniques have provided a competitive advantage in emerging markets such as Singapore, Australia, Taiwan, Vietnam, and the United Kingdom, demonstrating the world relevance of its modern answers.

Events like ICW and BuildXpo 2024 give the construction industry an important platform to showcase their most recent innovations as the industry is under increasing pressure to become more sustainable and efficient.

Gamuda’s technology showcase at the event serves as a model for others. By integrating cutting-edge technologies with sustainable practices, the company is redefining what’s possible in construction and infrastructure development.

In the end, Gamuda Berhad’s transition from a traditional construction company to a digital innovator demonstrates the disruptive potential of technology in even the most well-established sectors. As it continues to push the boundaries of innovation, Gamuda is not just building structures, it’s constructing the future of the industry itself. For businesses across sectors, Gamuda’s story offers valuable lessons in the importance of embracing digital transformation, fostering a culture of innovation, and balancing technological advancement with environmental responsibility.

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GIC believes in US’ long-term potential; mutual trust has enabled sovereign wealth fund and US partners to prosper: SM Lee

Singapore’s sovereign wealth fund continues to believe in the US economy’s long-term potential, according to Senior Minister Lee Hsien Loong on Wednesday ( Nov 13 ). This is due to GIC and its partners in the US’s mutual trust and confidence.

” The US continues to be the most significant, energetic and adaptable economy in the world,” said Mr Lee, who is chairman of GIC’s board of directors, in a presentation handle at this year’s GIC Insights gala dinner in New York.

It continues to be the top option for creative and entrepreneurial individuals from all over the world.

Its investment markets are still the world’s most modern and transparent. “

Mr. Lee noted in his statement that GIC’s initial major investment in the US was” a 40th celebration,” and that its relationship with the US has “grown from strength to power.”

We are thankful to our US partners and fund professionals, many of whom we have long interactions with and who are also present with us in this area now, he said.

We were able to live together because of each other’s common trust and confidence. “

NEW Prospects

Mr. Lee stated in his statement that GIC continues to observe investment opportunities in the US, particularly in developing fields like ecology and climate systems.

Not only do like investments  aid to decarbonise the global market, they may also benefit local communities, he added.

He gave two GIC investment firms that are already active in this field.

” One is building a power plant in West Virginia, on the site of an old steel machine, to make iron-air batteries that provide long-duration energy store. The flower will make hundreds of jobs in the local neighborhood,” he said.

” Another company is collaborating with US school districts to make college travel electrifying.” It recently announced the second 100 per cent energy school bus ships in the US in Oakland, California. “

WEATHERED STORMS

Mr. Lee even compared how GIC “has persevered through the motions” in its support of the US.

” GIC’s years of investing in US markets have not always been easy traveling,” he said.

” We weathered some peaks and troughs, and stayed invested in hard times.

” We grew together during the boom, and we stayed committed and concerned investors throughout more trying and turbulent times. “

Mr Lee recalled the” Black Monday” stock market crash of Oct 19, 1987, the dot-com bubble period, the 2008 global financial crisis, and the COVID-19 epidemic as examples of winds that GIC has weathered during its four years in the US.

He claimed that GIC was able to accomplish this because it could look at things from a long perspective.

” We know that businesses go through cycles – that is an unavoidable fact, which we must accept and walk through with some calmness, if we are to maximise long-term earnings,” he added

This is a really different perspective from another business people, many of whom have shorter time frames. They want to invest in something appealing, but they also need a solid exit plan to sell and distribute the profits by a deadline sunset date. “

For GIC, nevertheless, there is” no set end time”.

” We is hunker down and stay invested through boom-and-bust processes, because GIC’s investment horizon is not measured in all times or even years, but by basics and fundamental price,” he said.

This holding capacity is invaluable, not just for GIC itself, but also for the investment companies it invests in.

” Of course, there will be days when investments turn sour, but we take it in our foot. GIC, and notably its customer, understands that there is no back without risk. “

Then, according to Mr. Lee, Ms. Lee made reference to the 1999 book Dow at 36,000, which noted how GIC had been heavily invested in the US prior to that time and is currently close to the$ 44,000 mark.

” We have stayed here in the US throughout 40 very productive years of collaboration, whether the market moved away, down, or backward,” he said.

” We have significantly benefited from the power of long-term compound,” he added.

Therefore, I have faith that GIC may remain a calm investment in the US for a very long time. “

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Hemisphere Ventures opens in Singapore amid SEA expansion | FinanceAsia

Hemisphere Ventures, a US venture capital and consulting firm known for early-stage investments in space, cybersecurity, biotech, nanotech, drones, robotics, and other frontier technologies, has opened a new office in Singapore, marking its first expansion into Southeast Asia ( SEA ).

Established in 2014, Hemisphere has a collection of US border tech investments, with home offices as investors. Illustrations of markets include area, security, bioscience, nanotech, drones, robotics, and another frontier technologies

Leading the agency’s rise in SEA is Chip Whittemore, who has just been promoted to managing companion. In his new role, Whittmore may direct Hemisphere’s Singapore activity, building relationships with local shareholders, founders, and important stakeholders. According to a media transfer, Hemisphere has also been given the task of utilizing its US network to connect SEA startups with existing collection companies. &nbsp,

Lisa Rich, founder of Hemisphere Ventures, said in the relieve:” Hemisphere’s devotion to the development ecosystem has gone world. Our new company in Singapore makes it easier for startups to interact with global markets and encourages engagement there.

As both skill and cash flow to the area, Processor’s leadership and vision will be crucial to unlocking growth opportunities in the area’s SEA, which is ripe for growth.

According to the transfer, the number of home offices in Singapore has more than tripled since 2020, with 250 more ones established in the first eight month of 2024. &nbsp,

Singapore offers a secure and attractive location for investments in innovative technology, with access to SEA’s high-growth options, according to Chip. I’m excited to direct Hemisphere’s development, and connect owners and traders to the global business marketplace”.

¬ Capitol Media Limited. All rights reserved.

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Hemisphere Ventures opens in Singapore in SEA expansion | FinanceAsia

Hemisphere Ventures, a US venture capital and consulting firm known for early-stage investments in space, cybersecurity, biotech, nanotech, drones, robotics, and other frontier technologies, has opened a new office in Singapore, marking its first expansion into Southeast Asia ( SEA ).

Established in 2014, Hemisphere has a collection of US border tech investments, with home offices as investors. Illustrations of markets include&nbsp, speed, security, biotechnology, nanotech, drones, robotics, and another frontier technologies

Leading the agency’s rise in SEA is Chip Whittemore, who has just been promoted to managing companion. In his new role, Whittmore may direct Hemisphere’s Singapore activity, building relationships with local shareholders, founders, and important stakeholders. According to a media launch, Hemisphere has also been given the task of utilizing its U&nbsp network, which includes facilitating connections between clients and existing collection companies in SEA. &nbsp,

Lisa Rich, founder of Hemisphere Ventures, said in the media relieve:” Hemisphere’s devotion to the development ecosystem has gone world. Our new business in Singapore makes it easier for startups to interact with global markets and encourages engagement there.

As both skill and cash flow to the area, Processor’s leadership and vision will be crucial to unlocking growth opportunities in the area’s SEA, which is ripe for growth.

Since 2020, the number of home offices in Singapore has more than tripled, with 250 more opening in the first eight month of 2024.

Singapore offers a secure and attractive location for investments in sophisticated technology, with access to SEA’s high-growth options, according to Chip. I’m excited to direct Hemisphere’s development, and connect owners and traders to the global business marketplace”.

¬ Plaza Media Limited. All rights reserved.

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Digital tourism Innovation Lab Cohort 3: MDEC paves the way for a tech-driven tourism future 

  • 24 businesses selected for an eight-week program
  • Programme received 117 uses over three population

Representatives from the Ministry of Digital, Ministry of Tourism, Arts & Culture, Malaysia Digital Economy Corporation, as well as 1337 Ventures with the participating companies for this DTIL Cohort 3.

The Malaysian Digital Economy Corporation ( MDEC ), a program designed to accelerate the digital transformation of the tourism industry, celebrated the success of Cohort 3. The organization stated in a declaration that the DTIL this year featured a number of pitches from companies focused on transforming the future of hospitality in Malaysia.

According to the statement, the occasion supports the Ministry of Digital’s plan to make Malaysia a regional leader in terms of modern leadership.

According to MDEC, DTIL is more than just a project, it is a system that builds and supports a growing tourism technology ecosystem, catalysing fresh innovations to meet industry needs, drive digitalisation, and promote Malaysia’s tourism offerings. Since its launch, the project has received an motivating answer, with 117 programs over three groups. Of these, 24 firms were selected for an intense eight-week program that included coaching, funding possibilities, and access to state-of-the-art services. &nbsp,

Individuals collaborated with industry experts to create creative solutions that could have a significant influence on Malaysia’s tourism sector and local communities as a result of this cooperative culture.

The event, which took place at Common Ground Bukit Bintang, attracted prominent figures from Malaysia’s tourism and modern sectors as well as leaders from MDEC and its accelerator partner 1337 Ventures. Certificates were presented to the 24 participating businesses by a Ministry of Digital consultant who also highlighted the program’s effect. Some DTIL members have already attracted funding from venture capital firms and angel investors, while others have reported increased revenues and powerful local market expansions.

Tourism is a crucial pillar of Malaysia’s market, with large potential to further increase the world’s GDP. Global forecasts indicate that travel and tourism’s total GDP contribution will reach US$ 16 trillion ( RM71 trillion ) by 2034, or 11.4 % of the global economy, according to Statista. Important technology investments in traveling and flexibility between 2018 and 2024 have included AI, IoT, Immersive Tech, Blockchain, Web3, and Quantum Computing – places where Malaysia is poised to make its level. With Visit Malaysia Year 2026 approaching, MDEC remarked that its DTIL effort is a necessary step in turning the region’s tourism industry into a model for online innovation.

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