☕️ Najib Razak's royal pardon bid to be decided W3 January

1. MARKET SUMMARY 📈

The long-awaited cryptocurrency breakthrough is finally here. The US Securities and Exchange Commission has approved exchange-traded funds that invest in Bitcoin, marking a significant change in the SEC’s stance after years of opposition.

2. NUMBERS AT A GLANCE 🔢

What happens when students are in a hyper-competitive environment? They take their government to court. Why? Because a bell rang too early — 90 seconds too early, to be exact. A group of South Korean students are asking for KRW20 mil (USD15,400) each — the cost of a year’s studying to retake the exam — because their college admission examination, known as Suneung, ended 90 seconds earlier than scheduled. The Suneung is one of the hardest exams in the world, an eight-hour marathon with back-to-back papers in multiple subjects. The stakes are high because the exams will determine university placements, jobs and future relationships!

5% — the average salary increment to be expected in 2024 for executives, management and professional employees, and support staff, according to HR consulting firm WTW. It’s slightly lower than the 5.6% increase seen last year. The survey was conducted on 600 companies that employ 323,837 employees in Malaysia. If your boss needs some evidence when you ask for a raise, remember The Coffee Break. You’re welcome.

If you did receive a 5.6% increase in salary last year, it was barely enough to cover the rental increment in 2023. The Malaysia Home Rental Index by real estate agent network IQI shared that rents across Malaysia in 2023 increased by 5.5%. The index highlighted that the average residential rent in Malaysia was RM1,975 per month. Kuala Lumpur’s average residential rent was RM3,192. 👀