In a world fighting climate change, fossil fuels take revenge

LONDON (BLOOMBERG) - With its chimneys towering 200m above the industrial heartland of England, West Burton A power station is a relic of the fossil fuel age. When fired up, its boilers burn thousands of tonnes of coal each day, spewing out the carbon dioxide that is warming up the planet. After more than 50 years of operation, it will close next year, part of a global transition into green energy sources like wind and solar. It is only rarely used, but for several days last month, it was this old, polluting facility that kept the lights on in Britain. West Burton is not an oddity. Across the world, fossil fuels are making a remarkable comeback as a super-charged recovery from the pandemic boosts demand. For all the green energy promises and plans, that transition is in its infancy, and the world still leans heavily on fossils. It is an addiction built up over two and a half centuries, and it runs deep. In Europe, where electric vehicles are becoming ever more popular, gasoline sales are booming, reaching a 10-year high in some countries. In the developing world, from Brazil to China, natural gas consumption is stronger than ever. The global hunger for energy has collided with cons...

Sept equity pullback an opportunity for investors

SINGAPORE - Today, the spectre of stagflation haunts many economies as they try to break free of Covid-19 and regain some semblance of normality. Inflation is already making a comeback after a two year break. Unemployment - or rather under-employment - remains an issue many governments are grappling with. This is the scenario against which stock markets are struggling to make headway as we enter the final quarter of 2021. That said, markets ended the week on a stronger note as the US Senate took steps to pass a short term US$480 billion (S$650 billion) increase in Treasury borrowings to avert a debt default later this month. Sentiment was also helped by the better than expected US jobless claims data, with initial claims at 326,000 compared to consensus estimate of 348,000. That said, September added 194,000 jobs versus a forecasted 500,000, suggesting that hirings have slowed significantly in the world's largest economy. Still, the unemployment rate fell to 4.8 per cent versus an expected 5.1 per cent. However under-employment has become persistent, especially amongst workers in the over-55 years category. US data suggest many older workers are also dropping out of the regular wor...

Semiconductor firms in S’pore step up talent development amid global demand for chips

SINGAPORE - Semiconductor firms in Singapore are stepping up their talent development amid a rampant global demand for chips that shows no sign of slowing down. Industry players have been focusing on two strategies - upskilling existing workers and attracting new employees. 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.

Metalist Partners with AP to Publish NFT Collections of 53 UNIQUE Moments from the Past 100 Years on BinanceNFT

New York, NY - Recently, Metalist Lab has announced a partnership with the Associated Press. And it is authorized by AP to release unique moments collection in the near future. For 175 years, the Associated Press has provided the world with accurate and fast news reporting of the most important events around the globe. With fearless staff and news bureaus in 250 locations in 100 countries, AP journalists have covered moments of great joy, scientific breakthroughs, achievement, and accomplishment as well as moments of loss, despair and agony.  AP is dropping a unique, curated collection of its rare, archived news reporting of the most memorable moments in recent world history. To release this unique series of collectibles, AP is collaborating with Metalist Lab and the collection will drop on the Binance NFT marketplace on October 19th, at 12pm UTC. Related link on Twitter: https://twitter.com/AssociatedPress The collectibles feature AP's coverage over the past 100 years of milestones in space, global conflicts, science and discovery, and human freedoms and advancement. The news reporting at the core of this collection consists of high-resolution images distributed aro...

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More than 200,000 police cameras to be installed islandwide by 2030

SINGAPORE - They have proven useful in deterring crimes and locating missing persons. The police will get greater access to such help, with more than 200,000 police cameras slated to be installed islandwide by 2030, up from the 90,000 already in place. The cameras will be set up in public residential estates, neighbourhood centres and hawker centres, as well as commercial and entertainment districts. Since their installation began in 2012, the devices have aided officers to solve more than 5,000 cases. Deputy Assistant Commissioner of Police Kenneth Nge said on Thursday (Oct 7) that the cameras have been most effective in solving crimes related to unlicensed moneylending-related harassment and thefts. Mr Nge, who is also assistant director of the operations systems division, noted that the cameras help curb physical crimes too. For instance, unlicensed moneylending-related harassment cases involving damage to property in Housing Board estates dropped by 67.9 per cent, from 1,745 in 2015 to 561 last year. Motor vehicle thefts at carparks plunged by 82.1 per cent, from 251 cases in 2015 to 45 last year. Housebreaking in HDB estates decreased by 56.8 per cent from 74 cases in 2015 to ...

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Morning Briefing: Top stories from The Straits Times on Oct 10

Good morning! Here are our top stories to kick-start your Sunday, Oct 10. Singaporeans flock to SIA service centre at Ion after news of easing of Covid-19 travel curbs The SIA website was hit by technical difficulties following a surge of traffic following the announcement. READ MORE HERE askST: What do I need to travel to the 11 countries under the Vaccinated Travel Lane scheme? The 11 countries include US, UK, South Korea and France. READ MORE HERE 11 Singaporeans aged between 56 and 90 die of Covid-19; 3,703 new cases reported Of those who died, four were unvaccinated, and all except one had underlying medical conditions. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Lunch with Sumiko: How Klook rode the Covid-19 crisis Klook had to let go of 10 to 15 per cent of its workforce but changing to focus on domestic leisure activities has now given it two engines of growth. READ MORE HERE 10 things you need to know about PM Lee's address and Covid-19 measures PM Lee addressed the nation on Saturday on the Covid-19 situation and the path to the new normal. READ MORE HERE askST: No entry to malls, no dine-in at hawker centres - what are th...

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Taking mental health into their own hands

The Youth Mental Well-Being Network, set up in February last year, brings together people from all walks of life to develop ground-up solutions to improve youth mental well-being. About 1,500 individuals, comprising young people, parents, caregivers and mental health and social sector professionals, have joined the network and developed 22 ground-up projects. Roping in parents, schools to boost support ecosystem for youth mental well-being When Mr Jagathishwaran Rajo was in university, his mother was diagnosed with diabetes, which turned severe and required the amputation of both her legs. She became depressed, and Mr Jaga, as a household member caring for her, began to feel the stress as well. His extended family came to the rescue by providing strong support, and his fellow community leaders also cheered him on. This experience led Mr Jaga, now 34, to realise the importance of the different layers of support one needs when going through difficult times - support from family and the community, on top of individual resilience. READ MORE HERE Setting up safe, non-judgmental 'listening corners' across S'pore Ms Elle Cheng's dream is to one day have "listening corners" all over the is...

Lunch with Sumiko: How Klook rode the Covid-19 crisis

For his Zoom lunch with me, travel tech start-up co-founder Eric Gnock Fah was planning to get Singapore-style chicken rice, but there is none to be found in his part of Hong Kong. He’s got rice with chicken and egg instead, he tells me as he sits down in front of the computer with a takeaway box. The 34-year-old is in a room in his office in Hollywood Road near the Soho area. He looks a little rushed, as if he’s just torn himself away from a meeting. A back-lit white board casts an orangey glow on the room. 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.

Helping parents in discussion of tough topics with kids

SINGAPORE - Help at hand to guide parents in those difficult, sensitive conversations - like poor grades - that will inevitably come up with their children aged seven to 12. Bramble, a mobile app started by four Singaporeans, plays both therapist and mediator to keep discussions loving and productive, with the help of machine learning. Parents and children pass the phone back and forth as they take turns to talk, as the app suggests statements and prompts responses as they talk about things like stress, expectations and managing emotions. A session on the app takes about 20 minutes. During the conversation, the app guides parents and children in clarifying their thinking and empathising with each other, and then in coming up with a simple plan - like committing to one small thing to make homework easier in the future. Prompts include, "I noticed that...", "I would rather..." and "Let me repeat what you just said to check if I understood." It also gives children keywords like "embarrassed" and "sad" if they need help to express how they feel. "We hope to emphasise the importance of empathy and feelings in the process of communication," said Bramble chief executive Chew Chia Shao Yua...

When frequent floods make insurance costly

(NYTIMES) - Climate change is going to hit the pockets of home owners who need to buy flood insurance. Starting this month, communities in Florida and elsewhere around the United States will see "flood" subsidies disappear in a nationwide experiment in trying to adapt to climate change: forcing Americans to pay something closer to the real cost of their flood risk, which is rising as the planet warms. While the programme also covers homes around the country, the pain will be most acutely felt in coastal communities. For the first time, the new rates will also take into account the size of a home, so that large houses by the ocean could see an especially big jump in rates. Federal officials say the goal is fairness - and also getting home owners to understand the extent of the risk they face, and perhaps move to safer ground, reducing the human and financial toll of disasters. In some parts of Florida, the cost of flood insurance will eventually increase tenfold. For example, Ms Jennifer Zales, a real estate agent who lives in Tampa, pays US$480 (S$651) a year for flood insurance. Under the new system, her rates will eventually reach US$7,147, according to Mr Jake Holehouse, her ins...

Future of work should mean working less

(NYTIMES) - A dozen years ago, my friend Patricia Nordeen was an ambitious academic, teaching at the University of Chicago and speaking at conferences across the country. "Being a political theorist was my entire adult identity," she told me recently. Her work determined where she lived and who her friends were. She loved it. Her life, from classes to research to hours spent in campus cafes, felt like one long, fascinating conversation about human nature and government. But then she started getting very sick. She had daily migraines. It became impossible to continue her career. She went on disability and moved in with relatives. For three years she had frequent bouts of paralysis. She was eventually diagnosed with a subtype of Ehlers-Danlos syndromes, a group of hereditary disorders that weaken collagen, a component of many sorts of tissue. "I've had to evaluate my core values," she said, and find a new identity and community without the work she loved. Chronic pain made it hard to write, sometimes even to read. She started drawing, painting and making collages, posting the art on Instagram. She made friends there and began collaborations with them, like a 100-day series of sketchb...

Banks cashing in on ESG bonds amid climate crisis

(BLOOMBERG) - While many banks have been condemned for contributing to the climate crisis by helping fossil fuel producers raise cash in debt markets, the banking industry as a whole is making more money from underwriting ESG-related bond sales. Banks have earned about US$3.6 billion (S$4.9 billion) in fees this year from arranging sales of bonds advertised as instruments of green, social or sustainable development for companies, governments and other organisations, according to data compiled by Bloomberg. That's more than double the US$1.6 billion that banks have pocketed so far this year from issuing debt for fossil-fuel companies. The numbers provide further evidence of the seemingly unrelenting cascade of money pouring into environmental, social and governance (ESG) investing. About US$750 billion worth of ESG-related bonds have been issued this year, compared with US$468 billion during all of 2020, Bloomberg data shows. Whether those bonds actually fund what they say they fund is another question, given the growing phenomenon of greenwashing, as industries scramble to mollify governments and consumers increasingly attuned to the consequences of climate change. Analysts say whe...

Me & My Money: Sustainable investing more than just a job for finance executive

Finance executive Jenn-Hui Tan believes in playing the long game when it comes to investing, so the notion of going sustainable fits him to a T. His job as global head of stewardship and sustainable investing at investment management firm Fidelity International is not about reaping a quick buck but focusing instead on the opportunities that can come when there is not a deadline clock ticking, as well as the broader impact on employees and the environment. 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.

Rare first-edition copy of US Constitution for sale

(REUTERS) - An extremely rare official first- edition printed copy of the United States Constitution, as adopted by America's founding fathers at a convention in Philadelphia in 1787, will be put up for bidding by Sotheby's in mid-November. Sotheby's, announcing the upcoming sale of the document on the 234th anniversary of its signing by delegates to the Constitutional Convention, estimated its value at US$15 million (S$20.4 million) to US$20 million. It last sold for US$165,000 in 1988, when it was acquired by the late Mr S. Howard Goldman, a New York real estate developer and private collector of American autographs, historical documents and manuscripts. His wife Dorothy Tapper Goldman is offering it for sale, with all proceeds going to the charitable foundation established in her name to further the public's understanding of democracy, the auction house said. The document is one of just 11 known existing copies - the only one still in private hands - from the official first printing of the final text of the Constitution, as adopted in Philadelphia and submitted to the Continental Congress for review, Sotheby's said. Copies from that first printing, bearing no signatures and beli...

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Metalist Lab Receives AP License to Publish NFT Collections of 53 UNIQUE Moments from the Past 100 Years on BinanceNFT

New York, NY, Oct 9, 2021 - (ACN Newswire via SEAPRWire.com) - Recently, Metalist Lab has announced a partnership with the Associated Press. And it is authorized by AP to release unique moments collection in the near future. For 175 years, the Associated Press has provided the world with accurate and fast news reporting of the most important events around the globe. With fearless staff and news bureaus in 250 locations in 100 countries, AP journalists have covered moments of great joy, scientific breakthroughs, achievement, and accomplishment as well as moments of loss, despair and agony.AP is dropping a unique, curated collection of its rare, archived news reporting of the most memorable moments in recent world history. To release this unique series of collectibles, AP is collaborating with Metalist Lab and the collection will drop on the Binance NFT marketplace on October 19th, at 12pm UTC.Related link on Twitter: https://twitter.com/AssociatedPressThe collectibles feature AP's coverage over the past 100 years of milestones in space, global conflicts, science and discovery, and human freedoms and advancement. The news reporting at the core of this collection consists of high-reso...

1,926 visitors travelled to Singapore from Germany and Brunei; 2 tested positive for Covid-19 on arrival

SINGAPORE - Since the Sept 8 launch of quarantine-free travel for vaccinated travellers from Brunei and Germany, 1,926 visitors have made the journey to Singapore with two testing positive for Covid-19 on arrival. The two had flown in from Germany under Vaccinated Travel Lane (VTL) arrangements and undertook the polymerase chain reaction (PCR) test on arrival, the Civil Aviation Authority of Singapore (CAAS) said on Saturday (Oct 9). It added that the travellers were isolated and there was no interaction with the local community. In an update, the authority said a total of 4,676 VTL passes have been issued as at Friday to short-term visitors and long-term pass holders to enter Singapore from the two countries. Under the travel scheme announced then, visitors were not required to undergo quarantine, but they had to go through four rounds of PCR testing: pre-departure, on arrival, as well as on day three and day seven after arrival. CAAS said no other positive case was detected from both Germany and Brunei, including during the post arrival tests on day three and day seven. Number of VTL passes issued up to Friday: 4,676 - From Germany: 4,497 - From Brunei: 179 Number of VTL arrivals...

Covid-19 booster shots for healthcare workers, front-line workers and those 30 and above

SINGAPORE - From Saturday (Oct 9), healthcare workers, front-line workers and those aged 30 and above will be invited to take Covid-19 vaccine booster shots. They will join those aged 50 to 59 who have been receiving their booster shots from Oct 3. The Ministry of Health (MOH) said the booster jabs will be administered to these groups of people who have received their two-dose regimen at least six months ago. "Our healthcare and front-line workers are more likely to come into regular contact with Covid-19 cases in the course of their work and are at greater risk of infection," it said. Those in institutions such as prisons and residential care facilities will also get booster jabs, said MOH, as these places are indoor settings with higher human density and thus predisposed to large outbreaks of Covid-19. "We are also working with various institutions to progressively roll out booster vaccinations to eligible persons in institutionalised settings," the ministry added. In addition, expanding the booster programme to those aged 30 and above will help to raise the overall level of protection in the population, MOH said. From Saturday, people in this group will receive a text message wi...

S’pore to allow quarantine-free travel to 9 more countries including US, UK

SINGAPORE - Travellers vaccinated against Covid-19 will be able to fly to nine more countries and return without quarantine in the coming weeks, in the Republic’s biggest move to reopen its borders so far. Travel to Singapore will also be made easier, with visitors under the Vaccinated Travel Lane (VTL) scheme only needing two Covid-19 swab test in order to enter Singapore, down from the current four. The two are: a pre-departure and on-arrival polymerase chain reaction (PCR) test. From Oct 19, vaccinated travellers be able to fly to Canada, Denmark, France, Italy, the Netherlands, Spain, Britain and the United States. The scheme will be extended to South Korea from Nov 15, the Ministry of Transport had said on Friday (Oct 8). Travellers from the nine countries will be able to enter Singapore without quarantine under the VTL scheme. Transport Minister S Iswaran announced the update to Singapore border measures on Saturday during a press conference by the multi-ministry task force handling the Covid-19 pandemic. The nine countries are already open to travellers from Singapore, or will be open by the time the VTL starts. This would allow Singapore residents to travel, including for l...

Home recovery the default Covid-19 care arrangement, except for certain groups

SINGAPORE - The Covid-19 Home Recovery Programme (HRP) will be the default care arrangement for everyone, except certain groups, from Sunday (Oct 10). The following groups of people will be excluded from this arrangement: 1. Partially or unvaccinated individuals aged 50 and older; 2. Vaccinated people aged 80 and older; 3. Children below one year old, and those aged one to four years who have been assessed to be clinically unsuitable for home recovery. This was announced by the multi ministry task force tackling Covid-19 on Saturday (Oct 9) at a virtual press conference. Since the start of HRP on Sept 15, more than 19,000 individuals have been recovering at home. More than 8,000 have fully recovered. "As our population has become more familiar with the HRP, and our healthcare professionals have become more experienced in handling the medical needs of those on HRP, it is timely to extend the HRP to a wider range of individuals, especially for those with mild or no symptoms," the Ministry of Health (MOH) said. This will allow the ministry to better prioritise resources to take care of the severely ill or vulnerable patients, without compromising care to those who may be younger with ...

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Covid-19 quarantine orders scrapped, simpler rules to be rolled out in Singapore from Oct 11

SINGAPORE - A simpler set of rules for Covid-19 patients and their close contacts will be rolled out from Monday (Oct 11), bringing an end to quarantine orders and leave of absence notices. The aim is to make healthcare protocols easier to understand and reduce the burden on government resources, including phone operators and quarantine officers. The new rules override some existing ones, and come with built-in expiration dates, meaning that people will be able to resume daily life after a preset amount of time rather than waiting for official test results. They also mean that Singapore's Covid-19 strategy will now rely heavily on antigen rapid tests (ARTs), which typically produce results in 15 minutes and can be self-administered. Results from polymerase chain reaction (PCR) tests, which are processed in laboratories, take six hours to up to 12 hours for clinically urgent cases. Singapore needs to update its healthcare protocols - developed at a time when the country was aiming for zero Covid-19 cases - for several reasons, Health Minister Ong Ye Kung said on Saturday. First, it has become confusing and frustrating for most people to follow the rules. The Delta variant, which is ...