The US labour market showed signs of a steady slowdown in October, with job openings increasing moderately and layoffs declining, according to the latest Job Openings and Labor Turnover Survey (JOLTS) report released by the Bureau of Labor Statistics on Tuesday. Job openings, a key indicator of labour demand, rose by 372,000 to 7.744 million at the end of October. However, the September figures were revised downward to 7.372 million from the initially reported 7.443 million. Economists polled by Reuters had anticipated 7.475 million vacancies. Labour Market Dynamics While job openings increased, hires dropped by 269,000 to 5.313 million, and layoffs fell by 169,000 to 1.633 million. These figures suggest a gradual cooling of the labour market rather than a sharp contraction. Hurricanes and strikes also impacted October’s labour market data. Rebuilding efforts in storm-affected regions and the resolution of strikes at Boeing and another aerospace company are expected to contribute to a ...
Budget 2025 Wishlist: Green Bonds and Tax Rebates Key to Telco Renewable Energy Transition, Says Edotco CEO
Edotco Group Sdn Bhd CEO Mohamed Adlan Ahmad Tajudin has called for green bonds, tax breaks, and rebates in Budget 2025 to encourage telecommunication companies (telcos) to transition to renewable energy (RE). He stated that such incentives could help offset the high upfront costs associated with adopting clean energy sources like solar and wind.
Mohamed Adlan also suggested the introduction of cash-back programmes for environmental, social, and governance (ESG) initiatives, similar to those for electric vehicles, which could attract telcos to integrate sustainability practices.
He further highlighted the potential for green bonds and competitive financing options for RE projects, coupled with ESG reporting standards, to provide financial support and encourage companies to take more decisive actions on sustainability.
However, he noted that challenges such as rising energy costs and the geographically dispersed nature of telco networks make implementing energy-efficient solutions difficult. Additionally, the limited availability of sustainable green energy poses an obstacle for telcos looking to transition to RE.
Edotco, which operates 2,604 telecommunication towers across Asia, has already made strides in its RE transformation, with 159 towers in Malaysia and others in Pakistan, Myanmar, and Bangladesh now running on renewable energy.
The 2025 Budget, to be tabled by Prime Minister Datuk Seri Anwar Ibrahim on Oct 18, is expected to address Malaysia’s sustainability goals and foster further RE adoption across various industries.
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