Tag: news update

News Update

Indonesia Aims To Protect Domestic Workers With New Bill

Indonesia, the largest democracy in the world without a law to protect its domestic workers, may soon
change that with a new bill. This bill aims to improve the rights of millions of Indonesians working
overseas, particularly in places such as Hong Kong and Singapore. With almost 5 million domestic staff
working in South-East Asia’s largest economy, these workers form the invisible backbone of the country.
They provide care for upper-middle-class homes and allow richer Indonesians to pursue more lucrative
careers. However, domestic workers are often physically and socially isolated, which leaves them
vulnerable to exploitation, assault, and modern slavery.

The Domestic Workers Protection Bill, which President Joko Widodo aims to pass into law this month, is
designed to provide household employees, three-quarters of whom are women, with more rights similar
to those of formal workers. While this is a positive step towards improving the lives of domestic workers,
the bill does not extend these protections to all domestic workers in the country.

According to Lita Anggraini, Indonesia’s leading activist on domestic workers’ rights, not having the
Domestic Workers Protection Bill in place could entrench slavery in the country. She views the bill as an
essential protection against the perception that “anything is acceptable for a domestic worker.” This
perception has led to many domestic workers being subjected to long working hours, low wages, and
physical and emotional abuse, all without any legal recourse.

19Apr
News Update

New Studies Show That ChatGPT Excels at Financial Analysis

Two recently published academic papers have utilized the artificial intelligence chatbot ChatGPT to perform market-relevant tasks, with promising results. The papers explore ChatGPT’s ability to...

19Apr
News Update

Netflix Announces The End Of Its DVD Rental Service After 25 Years

Netflix Inc, a leading streaming and entertainment services provider, has recently announced the discontinuation of its DVD-by-mail rental business. In a blog post made on Tuesday, April 19th, the company...

19Apr
News Update

Apple And Goldman Sachs Launch Savings Account With High-Interest Rate

Apple and Goldman Sachs have introduced a new savings account in the US that pays over ten times the national average interest rate, with a yield of 4.15% per annum. The two companies first announced the...

01Apr
News Update

Apple’s Focus On India Grows As Company Reshuffles International Management

Apple is restructuring its international management to prioritize India as its own sales territory, marking the first time that India has received this distinction from the technology giant. This move...

02Apr
News Update

EV Maker Rivian Aims To Raise $1.3 Billion Through Convertible Notes Amid Demand Concerns

Rivian Automotive announced its intention to raise $1.3 billion through a sale of convertible notes, joining the growing list of electric vehicle (EV) manufacturers seeking to accumulate cash in the face...

02Apr
News Update

Meta Is Reportedly Developing A Decentralized Social Network To Rival Twitter

Meta, formerly known as Facebook, is reportedly developing a decentralized, text-based social network, known internally as Project P92, which may pose a competitive threat to Twitter. The platform is...

02Apr
News Update

Adidas Faces First Annual Loss In 31 Years After Yeezy Split

Adidas, the German multinational sportswear corporation, announced a significant loss in the fourth quarter of the year and reduced its dividend following the costly termination of its partnership with...

01Apr
News Update

Solar Power To Surpass Coal Capacity In Australia, Reports Consultancy

According to industry consultancy SunWiz, Australia’s rooftops have a total capacity of 20 gigawatts of solar panels, which is expected soon to surpass the entire coal industry’s electricity...

02Apr
News Update

United Nations Reaches Historic Agreement To Protect Marine Life In High Seas

The United Nations members have reached an agreement on a treaty to protect biodiversity on the high seas, marking a significant turning point in conservation efforts for vast areas of the planet...