GLOBAL WORKFORCE FALLS SHORT ON LITERACY
PARIS, France -- According to the recent OECD (Organization for Economic Cooperation
and Development) study of literacy rates, about 1/3 - 1/2 of the world's workforce in industrialized nations
falls short on literacy levels essential to function in a modern economy. Advancements in technology should lead
to more jobs and economic growth, but the positive impact is limited by the ability of our workforce to adapt
and learn new skills.
Poland ranked lowest, with about 75% of its adult population unable to read well enough. Sweden ranked the
most literate -- with about 75% of Sweden's adults capable of handling more complex reading tasks. But in other
nations, including Belgium and Ireland, the study noted a major discrepancy between older and younger generation
literacy levels, in contrast to those in the US, for example, where literacy levels were comparable between old and
young.
Overall, the study indicated that half of the workforce in the United
States, United Kingdom, Switzerland, New Zealand and Australia did not have the reading skills needed by
our modern economic societies. Our global workforce is not literate enough.
Reader's Comments
(Source: YOUR LINK HERE)
VIETNAM ECONOMY SHOWS CONTINUED STRENGTH
HANOI, Vietnam -- Leveraging Vietnam's lower cost of goods and labor, exports continue to surge
(up 19.8% to US$3.21 billion), despite a general Asian economic downturn. Vietnam's industrial production was
up 12.8% during the first four months of 1998 (vs. 1997). And the trade deficit plunged 43% in the first four months
of the year. Major export growth is attributed to Vietnam's expanding exports of rice, crude oil and garment sales.
Meanwhile, unemployment rates in Vietnam continue to rise -- up to about 6% by the end of '97. Urban jobless
rates are now estimated at about 7%. Vietnam's workforce is 40 million strong, and growing by approx. 1.3 million
each year.
According to a recent report from the Vietnam Labour Ministry, heavy lay-offs in state and foreign-invested enterprises
could be attributed to fallout from the Asian economic crisis.
(Source: YOUR LINK HERE)
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LIBYA AND LEBANON SIGN TRADE ACCORD
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BEIJING'S PRIVATE SECTOR ENCOURAGED TO HIRE LAID-OFF WORKERS
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TRIPOLI, Libya -- Newsbyte:
A bilateral trade agreement was signed between Libya and Lebanon last month.
(Source: YOUR LINK HERE)
Reader's Comments
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BEIJING, China -- In an effort to stimulate the economy and reduce unemployment, the government of
Beijing is offering tax incentives and low-cost loans to private companies that hire laid-off workers. In recent
months, nearly 10% of Beijing's public sector workers have been let go due to state reforms. Throughout
China, another 8 - 14 million workers are expected to be without jobs by the end of 1998.
Reader's Comments
(Source: YOUR LINK HERE)
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payable on the honor system to PANGAEA.
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ISRAEL GAINS RECOGNITION AS SILICON VALLEY #2
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STARBUCK'S PLANS LAUNCH INTO EUROPE
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JERUSALEM, Israel -- As the world's technology market continues to expand, Israel has become
an active player and aggressively competes in this high-technology revolution. Their presence is significant
and commands billions of investment dollars.
Private sector investment in Israel's computer software/hardware, telecom and biotech
companies, built mostly by young entrepreneurs, have garnered foreign funds in the amount of
US$1.5 billion -- 40% of which comes from the US, Europe and Japan. Incidentally, these investments in the
high-tech sector account for nearly half the nation's foreign capital investments. And more than 100 Israeli companies
raised capital for their firms by selling stock on the NY stock exchanges. Moreover, to further support this growing
sector, the government of Israel has been subsidizing up to 50% of the industry's research & development costs for the
last six years.
Multinational companies now actively present in Israel include such hi-tech
leaders as Microsoft, IBM, Intel, Siemens and Deutsche Telekom,
together with financing giants including Merrill Lynch, Lehman Brothers,
Morgan Stanley, Societe Generale of France and the Union de Banque
Suisse.
(Source: YOUR LINK HERE)
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SEATTLE, USA --
With the recent announcement to acquire Seattle Coffee Co. of the UK, Starbuck's Corp.
moves closer to its expansion goal -- to expand its US operations into Europe and open 500 outlets there
within the next 5 years.
Starbuck's already has operations in the Asia/Pacific market -- with more than 30 outlets there. Plans
are to run 200 retails sites in the region by the Year 2000, despite economic conditions there. The most
recent outlet opened in Taipei. Look for openings in New Zealand, S. Korea and Thailand.
Seattle Coffee Co. currently has 56 stores in the UK and plans to open another 30 by year-end. In addition, they
have locations in South Africa and Malaysia with plans to open others in Kuwait and Singapore this year. These
will operate under the Starbuck's brand name.
(Source: YOUR LINK HERE)
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American Airlines' Net SAAver and Net SAAver International offers last minute travel
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Through this program, you can fly at discounted rates, as long as you
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From Boston, MA (BOS) to:
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[Restrictions apply. Check with American Airlines or our
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International flight departures must be on Thursday or Friday, May 28 - 29, 1998.
Thursday departures return anytime the following Monday and Friday departures return
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