ILO NORMS
Gold slips as oil gains strengthen case for elevated interest rates
Gold experienced a decline on Tuesday, influenced by a rise in crude oil prices. Compounding this drop were growing fears over inflation and upcoming Federal Reserve interest rate changes. With a key policy decision expected on Wednesday, benchmark Treasury yields hitting five percent exerted additional pressure on U.S. equities, while other precious metals, including silver and platinum, faced similar downturns.
India’s gig economy is leaving its women behind, study finds
Women remain underrepresented in India’s rapidly expanding gig economy despite near-equal access to basic bank accounts. An ILO-NCAER study cites gaps in digital skills, mobility, safety and social norms as barriers, even as India’s gig workforce is projected to reach 23.5 million by 2029-30.
Maharashtra government’s working hours hike in factories and shops sparks trade union protests
Trade unions in the state are preparing for a joint protest against the state cabinet's decision to extend working hours in factories and shops, despite the need for legislative approval. The unions argue that increased automation should lead to reduced hours, not longer ones, and fear exploitation of workers through unpaid overtime.
Gold edges higher as markets grapple with tariff uncertainty
Gold prices experienced a slight increase due to ongoing uncertainty surrounding U.S. President Trump's proposed tariffs and their potential impact on the global economy. Market participants remain cautious as Trump plans to announce tariff rates on imported semiconductors. Investment in Chinese gold ETFs has surged, surpassing both Q1 figures and U.S. inflows.
Heatwaves hit early as India faces extreme summer, rising risks to health and economy
By February's end, Goa and Maharashtra faced heatwaves, making it the hottest month in 125 years. With temperatures rising, India's health and economy are at risk. Rivers are drying up, and without mitigation, food production, water stress, and job losses will worsen. Effective heat action plans are necessary.
Gold inches higher on concerns over Trump tariff threats
Gold prices saw a slight increase amid ongoing uncertainties surrounding U.S. President Donald Trump's tariffs, enhancing bullion's appeal as a safe-haven asset. Fed officials are expected to provide further insights on monetary policy, while Goldman Sachs has raised its gold price forecast due to higher structural central bank demand.
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Gold prices flat as traders await fresh catalysts
Gold prices remained steady as traders anticipated new signals from the Federal Reserve regarding U.S. interest rate cuts. Fed Governor Christopher Waller called for caution on rate reductions, while President Neel Kashkari indicated potential further cuts. Investors are also eyeing upcoming U.S. economic data.
India to have a competitive, viable banking sector by 2047, says DFS Secretary
“The expenditure on cyber security arrangements needs to be enhanced by all stakeholders. Further, all the relevant entities need to be prepared to protect and secure digital personal data of their clients as part of the stipulated regulatory norms laid down under the digital Personal Data Protection Act 2023,” he said.
India's poor ranking in global development indices due to systematic biases in estimates, says a paper
The paper titled 'Reversing the Gaze Re-examining Estimates of India's Development Indicators by International Organisations' said on one hand, flawed estimation by international agencies derives from their own conceptual ambiguity, flawed benchmarks, and shoddy methodology.
Labour codes in consonance with ILO norms: Bhupender Yadav
The process of ratifying the four labour codes in all the states is on, and as soon as it is completed, it will come into effect across the country. Labour is on the concurrent list of the Constitution. Thus both, the Centre and states can make policies and legislation on the labour subject.
Election of new ILO chief wide open
Observers say that former Togo prime minister Gilbert Houngbo appears to be in a strong position, with backing from most of the Africa and labour representatives. Former French labour minister Muriel Penicaud is also said to have a good shot, with backing from European countries.
Over 9 million children could be pushed into child labour by 2022: ILO
The report titled Child Labour: Global estimates 2020, trends and the road forward, warns that progress to end child labour has stalled for the first time in 20 years, reversing the previous downward trend that saw child labour fall by 94 million between 2000 and 2016. The report has been released ahead of World Day Against Child Labour on June 12.
The missed opportunity with diverse boards
A growing body of research shows a range of business benefits associated with gender diversity on boards.
Central trade unions want ministry to put on hold four labour codes & re-start discussions
“The central trade unions demanded that all the four codes should be put on hold and then discussions should start with the central trade unions on each of the Labour Codes afresh in the true spirit of bipartite and tripartite consultations,” the trade unions said in a joint statement issued after the physical meeting with the labour ministry on Wednesday.
India gears up to supply 0.3 million healthcare workers across nine countries
Top government sources told ET that the Indian government, including the ministry of skill development and enterprises (MSDE), is in talks with their counterparts in these countries to assess their specific requirements and create job roles accordingly to cater to their needs for a skilled workforce.
Central trade unions may approach ILO on labour laws suspension in some states
The Joint Platform of CTUs and Federations/Associations denounced the blanket exemptions given to all establishments from the employers' obligation under all substantive labour laws for a period of three years by Uttar Pradesh and Madhya Pradesh. In UP, an ordinance in this regard has been promulgated and same is going to be done in MP also.
‘Cover unorganised, migrant labourers too’
The committee is learnt to have also asked the government to find ways to ensure enough rest and safety measures for workers in highly mechanised sectors such as software industry, textile, hospitality and media who may need to work more than eight hours a day due to the nature of their work.
4th industrial revolution will add unpredictability to future of work: India
India has said the fourth industrial revolution will add unpredictability to the future of work, requiring people's opportunities and well-being to be localised and re-examined.
Cabinet clears Rs 6,000crore package for textile sector
The government has announced a Rs6,000-crore package for the textiles and apparels sector to help it wrest a bigger share of the global market.
Build social security floor before labour reforms: ILO
India should first build a social protection floor for people and then move on to amend or fine tune the existing labour laws.
Government to amend Child Labour Prohibition Act;new norms may allow below 14 to work in select setups
Bill will retain proposal of a complete ban on child labour in any organisation, big or small, as proposed by the previous government, a senior labour ministry official told.
Shipping body asks government to ratify global convention
Jobs of about one lakh Indian seafarers would come under threat post August 19 following delays in ratifying a global convention, according to MASSA.
Facilitate optimal functioning of TUs: Yoshiteru Uramoto, International Labour Organisation
"India needs to bring in a new era of industrial relations to ensure its demographic dividend doesn’t turn into a nightmare."
Indian apparel manufacturers to take legal compliance seriously to change 'child labour' image
Indian apparel manufacturers to take legal compliance matters in their own hands to change the image problem plaguing the country.
Apparel exporters to end child labour, cleanse supply
Censured for engaging child labour by gloabl apparel brands, the Indian apparel export industry has decided to adopt zero tolerance on child labour.
Servant's work hours, leave not to be at whims & fancies of master anymore
Over four million domestic workers could look forward to better work conditions with India endorsing a global treaty protecting them.
Good times ahead for women workers
Everything is not bleak, here are some change agents that promises a better tommorrow.
Women get nod for late night shifts
The Cabinet on Thursday approved an amendment in the Factories Act paving the way for women employees to work in late night shifts.
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