Recruitment in Singapore's fintech payment services sector is expected to surge by 76% in the next 12 months, according to a report released by the UK based global recruitment firm Robert Walters. On August 4th, job openings for financial services professionals in Singapore hit 21,800 in 2021, the highest number of new job vacancies since 2015. Despite market volatility and increased regulation, the registration of more fintech companies and the flow of commerce from Hong Kong to Singapore has driven demand for talent in the financial sector. In addition, the rapid recovery in the banking and financial services industry in 2021 also intensifies the competition for talent.

RBI Raises Key Rate 50 Basis Points to Curb Inflation

On August 5th local time, the Reserve Bank of India announced that in order to curb inflation, it decided to raise the benchmark interest rate by 50 basis points to 5.4%. The latest data showed that India's consumer price index (CPI) in June rose 7.01% year-on-year, the sixth consecutive month above the upper limit of the RBI's 6% inflation target.

Oil Prices Soar in Bangladesh due to Russia-Ukraine Conflict

Affected by the supply chain bottlenecks amid the COVID-19 pandemic and the conflict between Russia and Ukraine, many countries around the world are witnessing rising energy costs. The Bangladeshi government decided to raise the price of diesel and other fuels from midnight on August 6th, by as much as 40%-50%. The increase in oil prices will not only affect the travel costs of private cars, buses and other means of transportation, but also increase the operating costs of power plants, and may also affect industrial production in the future. According to Reuters, due to the rising prices of important materials, Bangladesh's inflation rate is also deteriorating. In July, the country's inflation rate reached 7.48%, which has exceeded 6% for nine consecutive months.