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Oil settles lower, shrugs off Saudi attack after climbing above US$70/barrel

elean 9 3 月

2 minutes

NEW YORK (REUTERS) - Oil prices settled lower on Monday (March 9), retreating from a session peak above US$70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the Covid-19 pandemic began. Yemen's Houthi forces fired drones and missiles at the heart of the Saudi oil industry on Sunday, including a Saudi Aramco facility at Ras Tanura vital to petroleum exports. Riyadh said there were no casualties or loss of property. "The situation evaporated when it became obvious that there was no damage to the largest oil facility in the world," said Bob Yawger, director of energy futures at Mizuho. Brent climbed as high as US$71.38 a barrel in early Asian trade, its highest since Jan 8, 2020. It settled down US$1.12 or 1.6 per cent at US$68.24. US West Texas Intermediate (WTI) crude settled down US$1.04 or 1.6 per cent at US$65.05. The session high was US$67.98 a barrel, its highest since October 2018. Brent and WTI prices have climbed for four consecutive sessions. The United States expressed alarm at "genuine security threats" to Saudi Arabia and said it would look at improving support for Saudi defences. "The activity is worthy of some ...

Nasdaq hits correction, Dow advances as US stimulus Bill nears finish line

elean 9 3 月

4 minutes

NEW YORK (REUTERS) - Technology-related shares sold off on Monday (March 8) in a big downturn that pushed the Nasdaq into corrective territory and offset stocks that rose on hopes the $1.9 trillion Covid-19 relief Bill will spur the US economy. The big technology stocks that have led Wall Street to scale successive peaks over the past year's rally fell with the Nasdaq closing down 2.41%, roughly 10.5% below its Feb 12 record close of 14,095.47. Financial shares and restaurant and travel-related stocks that are expected to do well when the economy reopens rose but were unable to offset the weight of the bigger tech shares that dominate the US stock market. After the legislation won US Senate approval on Saturday, President Joe Biden said he hoped for a quick passage of the revised coronavirus relief package by the Democrat-controlled House of Representatives so he could sign it and send $1,400 direct payments to Americans. Prospects of more government spending and faster economic growth have stoked fears of a spike in inflation, sending the benchmark 10-year Treasury yield to near one-year highs. US Treasury Secretary Janet Yellen, however, said on Monday the package would fuel a "v...

MPs tackle topics from high-risk youth to hawker culture

aseanpr 9 3 月

5 minutes

Shahira Abdullah (Nominated MP) Mentoring for high-risk youth Providing specialised mentoring to high-risk youth who might not have sufficient role models at home would help them do well, said Dr Shahira. She noted that these young people usually have low confidence, owing to their poor performance in school, and can then become involved in activities that may lead them to commit crimes. She added that mentoring can be done with specialised training and close collaboration with social workers as well as probation officers. Sembawang GRC MP Mariam Jaafar in Parliament on March 8, 2021. PHOTO: GOV.SG Mariam Jaafar (Sembawang GRC) Make M3 relevant Many in the Malay/Muslim community do not know what M3 stands for, even though the collaboration between three key Malay/Muslim organisations was established two years ago, said Ms Mariam, who called for more to be done to increase its effectiveness. She suggested that M3 use digital data and analytics to increase the impact of its initiatives. Given limited resources, she said, there is scope for M3 to strengthen its partnerships with other agencies like non-profit organisations to reach those who need help the most. MacPherson MP Tin Pei L...

15 years’ jail and caning for man who sexually abused daughter when she was 4 years old

aseanpr 8 3 月

4 minutes

SINGAPORE - A 33-year-old man who showed pornographic videos to his four-year-old biological daughter before he sexually assaulted her was sentenced to 15 years' jail and 15 strokes of the cane on Monday (March 8). The man, who was estranged from the victim's mother at the time, had committed the sexual offences when the girl was staying with him on weekends between March and May 2015, the High Court heard. He pleaded guilty to one charge of sexual assault by penetration and one charge of outrage of modesty. Five other charges, including three for showing obscene objects to a young person, were taken into consideration. The court heard that in October 2015, the girl underwent surgery to remove plastic toys she had inserted into her genitalia. The reason for her actions was not revealed in open court. The man cannot be named due to a gag order to protect the identity of the victim, who is now 10 years old. The victim's parents got married in December 2009 and lived with his parents. When the marriage broke down sometime between 2012 and 2013, the victim's mother decided to move out of the flat with the girl, their only child. As part of the terms of the separation, the woman had cus...

Singapore’s Covid-19 vaccination drive brought forward for seniors, extended to teachers, postmen and migrant workers

aseanpr 8 3 月

3 minutes

SINGAPORE - Singapore's Covid-19 vaccination drive has been brought forward for all seniors, and will also be extended to more high-risk groups and essential workers including teachers, postmen and migrant workers. This is possible because more supplies of the vaccine have arrived, said the Health Ministry (MOH) on Monday (March 8). As at Sunday, more than 596,000 doses of the Covid-19 vaccine have been administered. In total, about 379,000 individuals in Singapore have received at least the first dose; of whom more than 217,000 have received their second dose, MOH said. The ministry had earlier announced that seniors aged 60 to 69 would get their first dose around the end of March. However, it said on Monday that all seniors in this age group will now get their invitation letters within the next few days. Each letter will have a weblink which can be used to register for vaccination, after which an SMS with a unique booking link will be sent to the senior's mobile phone for them to book a vaccination appointment. Seniors can also book their appointments for vaccination at any community centre or community club. So far, over 55,000 seniors aged 70 and up have received their first do...

Doctor jailed and caned for assaulting girlfriend no longer allowed to practise

aseanpr 8 3 月

3 minutes

SINGAPORE - The doctor who was convicted last year of physically assaulting his then girlfriend, leaving her with a brain haemorrhage and fractures, has been struck off the Register of Medical Practitioners. Clarence Teo Shun Jie was referred to the Singapore Medical Council's disciplinary tribunal last year, soon after his sentencing in June which saw him receive three years, six months and two weeks' jail, with four strokes of the cane and a fine of $4,000. Under the Medical Registration Act, a medical practitioner convicted of a crime that implies "a defect in character which makes him unfit to practise medicine" may be referred to the disciplinary tribunal. Punishment can include fines, suspensions and removal from the register of medical practitioners. Teo, who was a locum, physically assaulted his then girlfriend on several occasions in 2017. He had met the victim in February that year on a dating app. About a month later, during an argument, Teo assaulted her for the first time. He did it again later that month and a third time in August 2017, assaulting her in his flat. He locked her in a room and repeatedly assaulted her when she refused to have sexual intercourse with him...

Women and girls enjoy less freedom in the online space than in real Singapore: Sim Ann

aseanpr 8 3 月

3 minutes

SINGAPORE - In her course of work at the Ministry of Communications and Information, Ms Sim Ann has encountered cases of victims who experienced online harm. "From time to time, they've approached us to say 'my photos were stolen'," she said. Listening to such stories prompted her to speak to more Singaporeans to understand the dangers women and girls face online. Ms Sim, who is Senior Minister of State for Communications and Information, said: "We have to ask ourselves, do our women and girls enjoy the same degree of freedom and confidence in the online space as they do in real life in Singapore. "The signs suggest there is a gap." She was particularly struck by a related video that The Straits Times produced last month. The video InstaSex had delved into the stories of teens who encountered sexual harassment and physical assault as a result of interactions on social media. "I think that really hit home. As an MP, when we hear about (such cases), it's usually because something has already happened. Someone has already become a victim. "But we may or may not interact with the victim directly. Sometimes they come through an intermediary, such as a family member." Ms Sim, a mother of...

Asia Technology Executives Boost Businesses with AsiaPresswire’s Technology Press Release Distribution

pandora 8 3 月

4 minutes

Hong Kong / SEAPRWire / Technology shares soared as a result of the coronavirus pandemic. Investors will be closely monitoring the tech sector and C-suite Technology executives will be looking to make every effort to boost brand perception. With AsiaPresswire's Technology Distribution Platform, Technology leaders can effectively distribute their company news, updates and performance reports to the ASIA's most-read Technology media outlets and publications to effectively increase brand awareness. Via AsiaPresswire's ASIA press release distribution packages, executives and teams of Technology companies can reach millions of potential ASIA readers by distributing company news on Yahoo Finance, Yahoo News, Bloomberg, BusinessInsider, Associated Press, advFN, MarketWatch, MarketScreener, FT.com, NASDAQ.com as well other popular ASIA Technology websites available on-demand, such as Morning Star, Reuters, and The Street. "While there is a potential for strong government regulations in ASIA, looming over the tech sector in the months to come, there is also an opportunity for the firms to boost investor confidence through powerful Technology campaigns," said TY Song, AsiaPresswire's COO of ...

Asia shares, dollar celebrate US stimulus, oil hits 1-year high

elean 8 3 月

3 minutes

SYDNEY (REUTERS) - Asian shares rallied on Monday (March 8) while the US dollar held near three-month peaks after the US Senate passage of a US$1.9 trillion stimulus bill and a surprisingly strong payrolls report augured well for a global economic rebound. There was also upbeat news in Asia, as China's exports surged 155 per cent in February compared with a year earlier when much of the economy shut down to fight the coronavirus. BofA analyst Athanasios Vamvakidis argued the potent mix of US stimulus, faster reopening and greater consumer firepower was a clear positive for the dollar, and a drag for bonds. "Including the current proposed stimulus package and further upside from a second-half infrastructure bill, total US fiscal support is six times greater than the EU recovery fund," he said. "The Fed is also supportive with US money supply growing two times faster than the Eurozone." The prospect of yet faster growth helped MSCI's broadest index of Asia-Pacific shares outside Japan firm 0.4 per cent. Japan's Nikkei gained 1.2 per cent, while S&P 500 futures rose 0.3 per cent, after a sharp turnaround on Friday. Equity investors took heart from US data showing nonfarm payrolls surg...

Game of drones: Chinese giant DJI hit by US tensions, staff defections

elean 8 3 月

7 minutes

SHENZHEN (REUTERS) - Chinese drone giant DJI Technology built up such a successful US business over the past decade that it almost drove all competitors out of the market. Yet its North American operations have been hit by internal ructions in recent weeks and months, with a raft of staff cuts and departures, according to interviews with more than two dozen current and former employees. The loss of key managers, some of who have joined rivals, has compounded problems caused by US government restrictions on Chinese companies, and raised the once-remote prospect of DJI's dominance being eroded, said four of the people, including two senior executives who were at the company until late 2020. About a third of DJI's 200-strong team in the region was laid off or resigned last year, from offices in Palo Alto, Burbank and New York, according to three former and one current employee. In February this year, DJI's head of US R&D left and the company laid off the remaining R&D staff, numbering roughly 10 people, at its flagship US research centre in California's Palo Alto, four people said. DJI, founded and run by billionaire Frank Wang, said it made the difficult decision to reduce staffing i...

Oil jumps above US$70 after Saudi Arabian energy facility attacked

elean 8 3 月

2 minutes

SINGAPORE (BLOOMBERG) - Oil surged above US$70 a barrel in early Asian trading on Monday (March 8) after Saudi Arabia said an energy facility was attacked, with prices extending gains after Opec+ last week said it would keep production steady. Futures in London jumped as much as 2.6 per cent after rising 4.9 per cent last week. The kingdom said a storage tank in the Ras Tanura export terminal in the country's Gulf coast was attacked on Sunday by a drone from the sea. Output appeared to be unaffected after the barrage of missiles and drones were intercepted. Oil climbed last week after Saudi Arabia and Opec+ made a surprise pledge to maintain output steady in April, accelerating a rally this year that has seen prices surge more than 35 per cent. The move prompted a raft of investment banks to raise their price forecasts, with Goldman Sachs Group estimating global benchmark Brent will top US$80 a barrel in the third quarter. The attacks are the most serious against the Saudi oil installations since a key processing facility and two oil fields came under fire in September 2019, cutting oil production for several days and exposing the vulnerability of the Saudi petroleum industry. That...

China’s hottest companies are run by old-school all-male boards

elean 8 3 月

6 minutes

HONG KONG (BLOOMBERG) - Warren Buffett-backed carmaker BYD, Nike-rival Anta Sports Products and Nasdaq-listed retailer JD.com are all emblematic of the global heft of China's companies. The Chinese giants have another thing in common: None of them have women on their boards. All-male boardrooms have long been common at stodgy state-owned Chinese enterprises, but they are also a fixture in many of the nation's entrepreneurial young companies, spanning industries like e-commerce and electric vehicles that are investor favorites. That's left the nation with the dubious distinction of being one of the worst places for boardroom gender diversity. Of the 25 largest companies on the MSCI ACWI index without any female directors last year, 14 were Chinese, according to a report published in November by MSCI. Among them were big names like search-engine operator Baidu and food-delivery company Meituan. The list of Chinese companies with all-male boards also includes smartphone seller Xiaomi and viral video start-up Kuaishou Technology, which earlier this year raised US$5.4 billion (S$7.2 billion) in the biggest technology IPO since Uber. Investors and activists have been putting more attenti...

SGX to see more IPOs this year, with new listings driven by growth sector firms: Experts

elean 8 3 月

1 minute

SINGAPORE - The pandemic has hit firms in many industries but also presented new opportunities to flourish for those in growth sectors. These effects are likely to spill over into Singapore's initial public offering (IPO) market, which is expected to see more listings this year by larger companies in businesses such as healthcare, tech and food and beverage, capital markets experts told The Straits Times. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

Students still without TraceTogether tokens to receive them from schools by end of March

aseanpr 7 3 月

3 minutes

SINGAPORE - Students here who are still without TraceTogether tokens can collect them from their schools by the end of this month, according to an update on the Ministry of Education's (MOE) website last week. This suggests that mandatory use of TraceTogether in schools could begin anytime from April. In its update, MOE said that primary, secondary, junior college and Milennia Institute students who have not collected their tokens from the community centres and clubs during the national distribution exercise, will be issued one by the end of March this year. The school distribution would be carried out in phases. "For students to receive the Token from the school, parents/guardians must raise the request through the Token request form sent out by schools," it said. "Students may still collect their Tokens at any of the CCs listed on the TokenGoWhere website if they missed the deadline to request for it via their respective schools." The tokens have been distributed to the public in CCs here since September last year. Minister-in-Charge of the Smart Nation Initiative Vivian Balakrishnan had first said last December that schools will be distributing the tokens to students so that the...

Oldest NKF centre in S’pore’s west gets new equipment, more capacity, thanks to $2m donation

aseanpr 7 3 月

4 minutes

SINGAPORE - The National Kidney Foundation's oldest dialysis centre in the west of Singapore has got a new look, thanks to a $2m donation from local charity, the Lew Foundation. Located at Blk 326 Clementi Avenue 5, the refurbished centre now has 30 dialysis stations, up from 20 previously, allowing it to serve up to 180 patients a week. The redesigned layout of the centre, which was set up in 1990, has done away with the patient cubicles of the past. Instead, it now has a more open and spacious look with no partitions between dialysis stations, allowing patients to interact with one another while undergoing treatment, and enabling staff to better observe all the patients. Speaking to The Straits Times on Sunday (March 7), clinical nurse manager Vinothan Umarani said: "At one glance, I can view all the patients, identify any issues and attend to them immediately." Following the renovation, all of the centre's equipment is also brand new and fully digitalised, and the centre's storage facilities have been expanded as well. Thanking the Lew Foundation for its donation at the opening ceremony of the centre on Sunday, NKF's chairman Arthur Lang said: "The upgrading works allow for effe...

Morning Briefing: Top stories from The Straits Times on March 7

aseanpr 7 3 月

2 minutes

Good morning! Here are our top stories to kick-start your Sunday, March 7. Easier tax claims process for work-from-home expenses in Singapore This includes the cost of air-conditioning and Wi-Fi. READ MORE HERE PES review by SAF: Better matching roles with soldiers’ abilities Screening and classification review could lead to a more optimal deployment, say observers. READ MORE HERE Fewer blood donors in S'pore in 2020, but collection at 5-year high This could be due to rise in percentage of those donating more than once, said the Singapore Red Cross. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Some Singaporeans staying on in Myanmar despite violence in the streets There are 500 Singaporeans registered with the Ministry of Foreign Affairs in Myanmar. READ MORE HERE Robert Chua used to rule television, now he wants to build a food empire Launching a food business in the midst of a pandemic is a bad idea, friends said. But in August last year, his Joy Luck Teahouse opened in Ion Orchard. READ MORE HERE Same old, same old, maid abuse cases are a blight on Singapore Past cases make clear that current safeguards are inadequate - all the mo...

For 7 years, Singapore couple paid for ‘cancelled’ insurance policies

elean 7 3 月

1 minute

If you decide to terminate your insurance policy, make sure you do a thorough check and cancel all supplementary plans as well. This is because some of these extra policies, or "riders" as they are commonly called, can still be in force even though the main policies have been cancelled. So you can still be charged premiums for these riders even though you do not want the coverage any more. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

As global shocks rise, Swiss Re has a shield

elean 7 3 月

1 minute

It is not often that you look at a company that has just announced losses of nearly US$900 million (S$1.2 billion) for the year past and think that it probably is doing the job it is meant to do. Swiss Re, the giant reinsurance firm, has done just that, sliding from a profit of US$727 million the year before. The Zurich-based company, with a history that goes back to 1863, is a breed of insurer that provides backup cover for primary insurers, a shock absorber, so to speak, in a world where shocks are increasingly commonplace. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

Insurance: Pay more if you see your own doctors

elean 7 3 月

1 minute

Unless you are prepared to pay more, the days of consulting private doctors who are not on your insurers' panels for hospital treatment will soon be over for most people. Instead of just making co-payment compulsory in new "riders", which are add-on policies to the main private medical plans, the six major insurers - AIA, Aviva, AXA, Great Eastern, Income and Prudential - want customers to seek treatment with their accredited specialists or doctors at public hospitals. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

Me & My Money: She focuses on structural trends rather than day-to-day changes

elean 7 3 月

1 minute

SINGAPORE -Trying to pick on the big trends rather than getting distracted by the day-to-day noise is the smart way to go when investing, especially given the extreme volatility we are going through now, says asset management executive Sherene Ban. Ms Ban, the 44-year-old chief executive of JP Morgan Asset Management for Singapore and South-east Asia, also emphasises the power of compounding returns and to get going early: "It's never too late to start investing and there isn't any size that is too small to invest." Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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