In 2023, spending on digital tech will grow 3.5 times faster than the economy. This will establish a foundation for operational excellence, competitive differentiation and long-term growth. There are five technology trends that should be monitored in the coming year.

Game-changing technology trends that will transform businesses in 2023

Rising prices is the prevailing theme in the global economy in 2022. The US, hit by inflation levels not seen in 40 years, led a monetary policy tightening regime that spelled the end of low interest rates. Unlike in the past, the strong US dollar matched the high commodity prices amid tight energy and food supply, leading to inflation almost everywhere else. The rising interest rate environment has also resulted in higher costs for governments, businesses and individuals.

The Return Of Inflation And The End Of Low Interest Rates

China has been the second-largest export market for Malaysian palm oil since 2019, behind India – reflecting the global buying pattern where these two countries are among the top three importers (including the European Union) of the commodity.

Understanding China’s palm oil market  

Penang is often dubbed the Silicon Valley of the East, owing to its strong and vibrant electrical and electronics (E&E) ecosystem, which has evolved from being labour-intensive and low value-added to capital-intensive, knowledge-based and high-technology. Today, the state is a thriving Global Business Services centre and Centre of Excellence for multinational corporations. To future-proof itself as a sustainable investment location, however, Penang has to develop, attract and retain talents. Here is an overview of its economic performance and labour force.

Penang at a glance

Many employers in Malaysia are struggling with a workforce shortage, owing in part to the Great Resignation brought on by the Covid-19 pandemic.

Attracting Gen Zs + millennials in the war for talent

The 15th general election (GE15) created a first in the nation’s history — the formation of Malaysia’s first unity government — as not a single coalition was able to achieve a simple majority of 112 seats in the Dewan Rakyat.