UK to join China-backed Asian bank; Syria as a dying nation; What female millennials seek at the workplace

1 UK to join China-backed Asian bank (Straits Times) Britain said it will seek to become a founding member of the Asian Infrastructure Investment Bank (AIIB), a new regional body backed by China that has raised concerns in the US about governance standards.

The AIIB was launched in Beijing last year to spur transportation, energy, telecommunication and other investment. Analysts have said it could challenge the Western-dominated World Bank and Asian Development Bank in the region.

However, Britain’s finance ministry said that the AIIB could complement work already done in the region by those organizations. Britain, the first major Western country to apply to become an AIIB member, would meet other founding members this month to agree on the principles of the bank’s governance and accountability arrangements.

2 Syria as a dying nation (Khaleej Times) This conclusion could be fairly drawn from the highly researched study conducted under the aegis of the United Nations. It simply says that alienation and violence has killed the Arab nation in Syria, and there is no room whatsoever for across-the-board rehabilitation.

The catastrophe has affected millions of people, as they reel under socio-economic revulsions as well as security threat, which are increasing with each passing day. The rise of Daesh and the allegiance that many of the local militant outfits have pledged make it a deadly case of anarchy and continued warfare. More than 10 million people are internally displaced, whereas around two million sit on the international frontiers. This diaspora is in addition to more than 250,000 people who have lost their lives to this day.

The report says that the ongoing crisis in the Middle Eastern country has hollowed up its population by 15 per cent, and the ability of the nation to rebuild is in highly compromised. And an estimated loss of $200 billion has been incurred since the conflict started in 2011.

3 What female millennials seek at the workplace (Greta Kaul in San Francisco Chronicle) A survey by PricewaterhouseCoopers finds that millennial women — those around the ages of 20 to 35 — are more career ambitious, better educated and enter the workforce at higher rates than ladies of previous generations. But they still feel they’re lacking some of the opportunities their male counterparts have.

Here’s what else was found, in a nutshell: Seventy-one percent of millennial women said they wanted to work outside their home country, but only 20 percent of people currently assigned to international jobs are women. As many as 97 percent of millennial men and women said flexibility and work-life balance are important to them.

About a quarter of millennial women in relationships earn more than their sweethearts, and 42 percent earn the same amount. Participants ranked advancement opportunities, competitive wages and incentives, workplace flexibility, good benefits and training opportunities as top traits in employers.

They still don’t feel equal: Only 49 percent of women starting their careers felt they could make it to the top ranks at their current employer, compared to 71 percent of males. There aren’t many role models for female millennials who want to climb corporate ladders, and they know it: Less than 5 percent of Fortune 500 CEOs are women, and a quarter of milennials surveyed said there weren’t senior women they resonated with in their workplace.


About joesnewspicks

This blog captures interesting news items from around the world for those strained by information overload and yet need to stay updated on global events of significance. The news items displayed are not in order of merit. (The blog takes a weekly off — normally on Sundays — and does not appear when I am on vacation or busy.) I am a journalist for nearly three decades.
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