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Biden praises significant wage increases in December

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President Joe Biden

President Biden praises significant wage emphasized the significant wage gains made during his first year in office following December’s jobs numbers release.

In December, the unemployment rate fell to 3.9 percent, a new post-pandemic low. But the economy added only 199,000 new jobs, less than half of what economists expected.

Biden slammed critics who claim his administration ignores the link between higher wages and current runaway inflation, calling their claims “malarkey.”

In response to the clearance of the December jobs report, President Joe Biden said Friday. That the substantial wage gains achieved during his first year in office represent the economy he promised Americans.

Average hourly earnings rised by 0.6 percent for the month and by 4.7 percent yearly. Moreover, wage growth in some industries has been robust in the last year: leisure, hospitality, and restaurant wages have increased by a whopping 14.1 percent over the previous year, outpacing all other industries.

Biden

Joe Biden

This is the economy I promise and hope for,” Biden said during a White House speech.

Where the greatest benefits go to those who work the hardest and are frequently left behind. People who have previously gone unnoticed.

Biden framed the nationwide labour shortage as a result of increased worker choice. And mobility rather than a year of overly generous government pandemic benefits. That have sapped people’s need to work for a living, as his critics claim.

According to Biden, Americans aren’t quitting their jobs in record numbers to stay at home. “They’re getting better jobs with better pay and benefits.” Biden paid little attention Friday to the inflation that is a byproduct of the strong wage growth. In a nutshell, the cost of labour is rising in lockstep with everything else.

Biden praises significant wage dismissed critics who claim his administration ignores the link between higher wages and current runaway inflation rates. Calling their criticism “malarkey” by Republicans and some economists.

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Outgoing Chemical Shipment soars, Saudi non-oil export growth hit 26.1% in November.

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Outgoing Chemical Shipment soars

Great news coming from Chemical shipment business. Outgoing Chemical Shipment soars, Saudi non-oil export growth hit 26.1 last November 2021. Data is provided by Gastat source of news Arab news.

Outgoing Chemical Shipment soars image from shutter stock

Outgoing Chemical Shipment soars image from shutter stock

Outgoing Chemical shipment:

Exports of Chemicals industries is expanding by 71%. More than 35% of non-oil merchandise export done.

According to sources, sales of rubber then plastic is also increased by nearly 40%. The ratio of non-oil exports to imports bounced to 53 percent in November 2021, up from 42 percent in the previous month Dec 2021. In its latest report, imports grew by only 1.4 percent, corresponding to the higher growth of non-oil sales, Gastat pointed out in its latest news.

Moreover, oil exports poured by 113 percent, and its share of total exports rose to 76 percent in November 2021. It is up from 65 percent in the same month of the earlier year. Overall goods exports jumped 83 percent from a year before.

China was the Kingdom’s leading trading partner, accounting for 17 percent of exports and 21 percent of imports. India and Japan are other significant recipients of Saudi goods and services, buying 12 percent and 10 percent, respectively, of exports. South Korea, the US, the UAE, and Egypt were among the top 10 exporting termini.

In addition, the US and the UAE supplied Saudi Arabia with 12 and 6 percent, respectively, of its imports.

The important customs ports for imports, Gastat said that 26 percent of total buys came via the Jeddah Islamic Sea Port in November 2021. Then second is King Abdulaziz Port, King Khalid International Airport, and Bat’ha.

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Zuckerberg’s new promising the world’s largest artificial intelligence supercomputer

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Mark Zuckerberg

According to Zuckerberg’s new promising, the cluster of machines can process images and video up to 20 times faster than their current systems.

Despite Zuckerberg’s new promising ongoing disputes over privacy and disinformation, Facebook’s parent company Meta announced on Monday. That it was posting one of the world’s most decisive supercomputers to increase its data processing capacity.

“The experiences we are set for the metaverse require enormous compute power (quintillions of operations per second!,” wrote Meta CEO Mark Zuckerberg on Facebook. Referring to his concept of a 3D internet in which users wear virtual reality headsets. Also sensor equipment to create an immersive experience.

The company plans to create Artificial Intelligence (AI) tools that will allow people speaking in different languages to comprehend each other in real-time, among other things.

The AI Research Super Cluster (RSC) machine, according to Meta. This is already among the top five fastest supercomputers also will become the fastest AI machine in the world when fully made in the coming months.

Largest Artificial Intelligence supercomputer

Largest Artificial Intelligence supercomputer

Platforms such as Facebook and Google have long been chastise for processing and using the data they collect from their users.

The two companies are currently facing legal action throughout the European Union. Which alleges that data transfers from the EU to the US are illegal. Furthermore. The AI algorithms that direct Facebook users to appealing posts have been chastised for contributing to the spread of misinformation also hate speech.

‘Technology superpower’

Facebook has repeatedly apologized for the damaging effects of its algorithms also has long emphasized. Its investment in content moderators also other measures to combat problematic posts.

EDR, a network of non-governmental organizations (NGOs) campaigning for extensive tech regulation, acknowledged on Monday. That Facebook had to make efforts to improve but questioned what the company might do with such a powerful tool.

“Nothing good can reach from all of that computer power in the hands of such a tech superpower. The group’s policy director, Diego Naranjo, told AFP. Two Meta’s AI research team members emphasized weeding out harmful content as one of the “critical use cases” for its AI development in a blog post announcing the supercomputer on Monday.

According to the researchers, the high-definition video was increasing demand for processing power. While the company was pushing for AI tools based on trillions of data points.

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UAE Tax Penalties laws: Pay tax penalties till December 31, 2022.

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UAE Tax Penalties laws: Pay tax penalties till December 31, 2022. Relief from the UAE tax authorities in UAE. They extend the penalty date to December 2022. Read all the UAE Tax Penalties laws if you come under any notice.

tax in uae

tax in uae

There you go, UAE’s Tax Penalty payers get time till December 2022. The decision came late at night yesterday. So don’t waste time read all the UAE Tax Penalties laws and pay the tax this time before December 31, 2022. 

Keeping a few things in mind once re-determined, the fines due until June 28, 2021, will equal 30 percent of the entire outstanding penalties. The earlier deadline for re-determination was December 31, 2021.

The Federal Tax Authority (FTA) UAE:

FTA clarified that taxpayers who had not met the needed conditions to help from the executive penalties’ re-determination by December 31, 2021. Don’t forget to meet the requirements by December 31, 2022. 

First, the administrative penalty imposed under Cabinet Decision No. 40 of 2017 should be paid till June 28, 2021. Do remember no tax due should be left after December 2022. You have to settle all the payments before the year ends. 

Third, the tax registrant must settle 30 percent of the unpaid administrative penalties. Pay is due until June 28, 2021, no later than December 31, 2022.

The FTA said you have to meet these conditions till Dec 2022. The administrative fines will be re-determined to equal 30 percent of the entire unpaid fines.

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