SeaPRwire
Read More

S&P 500, Dow pull back from all-time closing highs after grim jobless data

elean
3 minutes

NEW YORK (REUTERS) - The S&P 500 index closed lower on Wednesday (Nov 25) as mounting US layoffs in the wake of new mandated lockdowns to contain surging Covid-19 infections dampened investor risk appetite. The index and the Dow Jones Industrial Average retreated from record closing highs, pulled lower by cyclicals and small caps that drove the rally earlier in the week. Pandemic-resilient tech and tech-adjacent market leaders helped keep the Nasdaq afloat. "It's a growth day, flipping back the other way away from value," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "It's this ongoing struggle between the virus and the vaccine." "There's a reality setting in that while the vaccine will start being distributed fairly quickly, the virus isn't go away quickly and therefore the timeline for economic improvement is getting pushed out." A wide range of data released in advance of Thursday's Thanksgiving holiday was dominated by a second consecutive week of unexpected jobless claims increases, suggesting that new restrictions to combat spiking coronavirus cases could hobble the struggling labor market's recovery. "The economic data is not good, and we k...

SeaPRwire
Read More

Global recovery heading into critical period: MAS chief

elean
6 minutes

The global economic recovery from the Covid-19 pandemic is heading into a critical period as nations balance the need to prop up consumers and businesses against the threat of unmanageable debt, Singapore's central bank chief said. "The world is now entering a phase where the crisis is long, drawn-out, the peak of the crisis is behind us, but we're not in full recovery," Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), told Bloomberg. "In this undefined twilight zone of sorts, what is the appropriate policy mix?" He said fiscal policy would have to start unwinding, but gradually, while monetary policymakers must recognise that extraordinary measures cannot continue indefinitely. Governments worldwide have pumped trillions of dollars into their economies, with that fiscal support taking the lead in combating the effects of the pandemic and winning the backing of multilateral institutions like the International Monetary Fund that are usually more cautious about debt. Meanwhile, central bankers have kept interest rates near record lows and tinkered with unconventional tools. If officials do not start the process now of fine-tuning their stimulus, they ris...

JCN Newswire
Read More

Toyota Begins Sales of “Shodoku Taishi” Foot-Operated Sanitizer Stands

ruth
4 minutes

Toyota City, Japan, Nov 25, 2020 - (JCN Newswire) - Toyota Motor Corporation announces the release of "Shodoku Taishi," a foot-operated sanitizer stand that will be available through Toyota dealers nationwide, starting December 1. Amidst the spread of COVID-19, Toyota has leveraged its on-site monozukuri (manufacturing) capabilities and the Toyota Production System (TPS), which support its desire to create ever-better cars, to produce masks and face shields, develop vehicles that control the circulation of airborne droplets, and provide support to raise productivity in the production of protective gowns for healthcare use as part of the Toyota Group's Kokoro Hakobu Project.(1)The foot-operated sanitizer stand that Toyota is launching at this time was first produced in early April under the initiative of employees at Toyota plants, who wanted to take action and prevent infections among their colleagues, where operation of production lines was unavoidably suspended due to the COVID-19 pandemic. Based on a desire to contribute to society with the foot-operated sanitizer stands, the TPS professionals who participated in the medical protective gown project later became involved, commerc...

ACN Newswire
Read More

Hong Kong Trade Development Council welcomes economic support measures in 2020 Policy Address

indie
2 minutes

HONG KONG, Nov 25, 2020 - (ACN Newswire) - Chairman of the Hong Kong Trade Development Council (HKTDC) Dr Peter KN Lam welcomed the economic support measures to help Hong Kong's small-and-medium sized enterprises (SME), unveiled in the Chief Executive's Policy Address today.Dr Lam said, "Hong Kong SMEs are facing many challenges in the face of COVID-19, which has cast a shadow on global economic growth and has led to a 'new normal' in international trade and commerce. We welcome the economic support measures in the Policy Address that can help Hong Kong businesses overcome these challenges. For Hong Kong SMEs facing cash flow issues, cancelling the double stamp duty for non-residential property will provide them with more flexibility in their finances. At the same time, broadening the coverage of the Export and Marketing Fund will help SMEs find new market opportunities online and offline."Working closely with the HKSAR Government, we will assist Hong Kong SMEs to enter the Mainland Chinese market through the Guangdong-Hong Kong-Macao Greater Bay Area, while helping them to transform through digitisation and to find new global opportunities through different O2O [online-to-offline]...

ACN Newswire
Read More

Pacer Ventures partners Founder Institute, launches $3M fund for early-stage African startups

indie
3 minutes

LAGOS, NIGERIA, Nov 25, 2020 - (ACN Newswire) - Pacer Ventures has announced a $3M fund for early-stage African startups that are solving some of the most critical problems on the continent. The focus will be on verticals expedient to the African continent including healthcare, financial inclusion, education and agriculture.The United Nations has projected that Africa will have a population of 1.68 billion people by 2030, while the GSMA Mobile Economy Report states that 84% of Africa's population will have access to a sim connection by 2025. This high mobile penetration will enable the continent to leapfrog technology consumption, as Africa is expected to account for up to 30% of global consumption of technology and technology-driven solutions within the same period."We see a huge opportunity to support early-stage founders making meaningful contributions to their local economies and communities," said the Managing General Partner at Pacer Ventures, Gbemi Akande. "We are providing much-needed funds to founders leveraging mobile penetration to solve problems at the 'bottom of the pyramid' across the continent."Pacer Ventures has already begun to support early-stage founders by parti...

ACN Newswire
Read More

Post Bank launches JCB merchant acquiring operations

indie
3 minutes

Moscow & Tokyo, Nov 25, 2020 - (ACN Newswire) - JSC Post Bank, a universal retail bank established by VTB Group and Russian Post, has launched JCB merchant acquiring operations. JCB cardholders now have the opportunity to withdraw cash from all ATMs of the bank (over 4,800 ATMs), as well as to pay for goods and services using Post Bank's POS terminals (over 55,000) located in the offices of the Russian Post.[1]"Post Bank is actively developing cooperation with payment systems to provide convenient payment services and tools. Thanks to the partnership with JCB, more cardholders will now be able to use our ATMs and POS-terminals," said Elena Mokhnacheva, Member of the Board, COO of Post Bank."Post Bank's ATMs and POS terminals are installed in almost all post offices throughout Russia, which is very convenient for both bank customers and JCB cardholders. We are glad that Post Bank, one of the largest universal banks in Russia, started accepting JCB cards. We are committed to providing comfortable service possible for our cardholders. Our cooperation with Post Bank is a new step forward in achieving our goals," commented Takashi Suetsugu, General Director of JCB International (Eur...

SeaPRwire
Read More

2 men accused of tampering with election posters charged

aseanpr
2 minutes

SINGAPORE - Two men accused of tampering with election posters in separate incidents were charged in a district court on Wednesday (Nov 25). The two Singaporeans - Lim Song Huat, 48 and Constantine Paul, 51 - were charged with offences under the Parliamentary Elections Act. The general election in Singapore was held on July 10. Lim, who faces three charges, was along a service road in Woodlands Street 13at around 9.30am on July 3, during the campaigning period, when he allegedly used a black pen to draw a horizontal line across a People's Action Party (PAP) poster hung on a lamp post. He is also accused of using his hands to tear a second PAP poster about 15 minutes later. Lim is said to have then destroyed a third PAP poster by tearing it with his hands at around 9.47am. Paul, who faces two charges, allegedly removed two Progress Singapore Party (PSP) posters from lamp posts along Bukit Batok East Avenue 5 at around 8pm on June 30. In an earlier statement, the police said they had initiated investigations after officers came across an election poster belonging to the PSP at the bottom of a lamp post in Bukit Batok East Avenue 5 at about 1.50am on July 1. Later that day, the PSP lo...

SeaPRwire
Read More

Help for chartered bus operators to go digital

aseanpr
4 minutes

SINGAPORE - Chartered bus operators, typically owners of small fleets of about five vehicles, will now receive more help from the Government to automate their processes, accelerating a transition already sharpened by the coronavirus pandemic. In a new thrust towards digitalisation headed by the Land Transport Authority and Enterprise Singapore, it was announced on Wednesday (Nov 25) that operators will receive financial subsidies, free consultancy advice and training to help with the change in what remains a stubbornly traditional industry. Improvements could include having buses' whereabouts tracked on a digital map, in-built cameras that monitor drivers' behaviour, and integrated systems for online payment and route planning. With many chartered buses used as school buses that deal with large numbers of students, real-time tracking can put parents' minds at ease, while online processes can lessen the administrative burden on chartered bus companies who still often take attendance physically and collect payment in cash, bus operators said. Senior Minister of State for Transport and Foreign Affairs Chee Hong Tat, speaking at the event announcing the launch of the digital plan for c...

SeaPRwire
Read More

Parents collect PSLE results of son who died from cancer

aseanpr
5 minutes

SINGAPORE - In 2008, when he was but an eight-month-old baby, Raphael Lee was diagnosed with rhabdomyosarcoma in his left forearm. He underwent treatment for this rare form of soft tissue cancer for a year and the disease went into remission. But in 2016, when Raphael was a Primary 2 pupil, he was diagnosed with osteosarcoma, or bone cancer. It started in his left arm again, and eventually spread to his right collarbone and both lungs. On Nov 13, the 12-year-old died due to complications from surgery. His parents, Mr William Lee, 47, and Mrs Winnie Lee, 45, collected his Primary School Leaving Examination (PSLE) results from Alexandra Primary School on his behalf on Wednesday (Nov 25). Raphael was their only child. Mr Lee, who works as a course manager with St John Singapore, said: "We expected his lifespan would be shortened, but we didn't know death would come so soon. "We told him that our focus was not on his studies but on his health. We would tell him 'Just do your best, there is no stress' but he wanted to prove himself. "As much as possible, he tried to complete his homework." The Catholic couple said that the Church of St. Bernadette, that they attend, as well as Raphael's...

SeaPRwire
Read More

140 P6 pupils granted special consideration at PSLE due to Covid-19-related reasons

aseanpr
3 minutes

SINGAPORE - This year’s Primary School Leaving Examination (PSLE) saw 140 Primary 6 pupils granted special consideration due to Covid-19-related reasons, with some missing papers because they were on medical leave for an acute respiratory infection. These pupils accounted for 0.4 per cent of the 2020 PSLE cohort. On Wednesday (Nov 25), 39,995 pupils received their results, down from 40,256 pupils last year. To ensure fairness to all in light of the pandemic, the Singapore Examinations and Assessment Board (SEAB) said on Monday that it took multiple factors into consideration. These included the pupils’ performance in the other papers and their school cohort’s performance for that affected subject in the PSLE and their school-based examinations. The pupils collected their results in their classrooms, instead of the school hall which is the norm, due to the Covid-19 pandemic this year. Doing it that way gave them “the opportunity to be with their classmates and consult their teachers face-to-face on their next steps” when collecting their results, said the Education Ministry. Due to the younger age of PSLE pupils, a parent or guardian was allowed to accompany their child or ward to s...

SeaPRwire
Read More

4 men charged with corruption involving over $388,000

aseanpr
2 minutes

SINGAPORE - Four men aged between 32 and 41 have been charged for allegedly taking part in an corruption conspiracy involving more than $388,000. Appearing before a district court on Wednesday (Nov 25), the men - Jeremy Yu Jin Han, 41; Ong Jiajie, 32; Darren Zeng Shao Rong and Isaac Lai Zhi Yao, both 40 - each face seven charges under the Prevention of Corruption Act. According to court documents, Zeng, Ong and Lai are said to have conspired together to pay Yu, then a purchasing manager of Lion City Rentals, for advancing the business interests of Aiden Solutions LLP and D&M Capital with Lion City Rentals. Yu is accused of receiving payments of between $9,766 and $95,000 between March and June in 2016. According to the Accounting and Corporate Regulatory Authority (Acra) register, Aiden Solutions and D&M Capital were car dealerships. Aiden Solutions has since been struck off Acra's records. Lion City Rentals, is a vehicle leasing company previously owned by ride-hailing firm Uber. The car rental company was sold off last year. Court documents did not reveal the roles Ong, Zeng and Lai played within the companies. Yu and Lai are scheduled to be in court next on Dec 30. Ong will be i...

JCN Newswire
Read More

Fujitsu Rolls Out New Online Medical Solution to Drive Digital Transformation in Hospitals and Clinics

ruth
5 minutes

TOKYO, Nov 25, 2020 - (JCN Newswire) - Fujitsu today announced the commercial debut of its "FUJITSU Healthcare Solution Online Healthcare Solution" in the Japanese market, offering medical providers a powerful new tool to support COVID-19 countermeasures in medical frontlines and promote the digital transformation of doctors' work in hospitals and other medical institutions. The new solution connects all of Fujitsu's electronic medical record systems, ranging from those for small clinics to larger hospitals, with availability in Japan commencing on November 25, 2020. New solution in useThe offering will securely link with Fujitsu's HOPE LifeMark-Concierge application; available since 2016, which allows patients to make appointments and payments using a smartphone, while enabling safe and secure online medical examinations by letting patients access the URL of a video calling system used for online diagnosis through smartphone notifications. The solution empowers patients by allowing them to not only easily access online medical resources, but also manage everything from their appointments to billing with a smartphone app. By the end of fiscal 2020, Fujitsu plans to enhance its onli...

SeaPRwire
Read More

Global economic recovery from pandemic entering critical period, says MAS chief

elean
6 minutes

SINGAPORE (BLOOMBERG) - The global economic recovery from the Covid-19 pandemic is heading into a critical period as nations balance the need to prop up consumers and businesses against the threat of unmanageable debt, Singapore's central bank chief said. "The world is now entering a phase where the crisis is long, drawn-out, the peak of the crisis is behind us, but we're not in full recovery," Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), told Bloomberg. "In this undefined twilight zone of sorts, what is the appropriate policy mix?" Mr Menon said. "Fiscal policy would have to start unwinding, but gradually," while monetary policy makers must recognize that extraordinary measures can't continue indefinitely. Governments worldwide have pumped trillions of dollars into their economies, with that fiscal support taking the lead in combating the effects of the pandemic and winning the backing of multilateral institutions like the International Monetary Fund that usually are more cautious about debt. Meanwhile, central bankers have kept interest rates near record lows and have tinkered with unconventional tools. If officials don't start the process now of fi...

SeaPRwire
Read More

Elon Musk now world’s second-richest as Tesla market value crosses US$500 billion

elean
3 minutes

NEW YORK (BLOOMBERG, REUTERS) - Elon Musk's year of dizzying ascents hit a new high as the Tesla co-founder passed Bill Gates to become the world's second-richest person. The 49-year-old entrepreneur's net worth soared US$7.2 billion to US$127.9 billion (S$171.6 billion), driven by yet another surge in Tesla's share price. Mr Musk has added US$100.3 billion to his net worth this year, the most of anyone on the Bloomberg Billionaires Index, a ranking of the world's 500 richest people. In January he ranked 35th. His advance up the wealth ranks has been driven largely by the electric-car maker, whose market value passed US$500 billion on Tuesday (Nov 24). Tesla shares surged 6.4 per cent to US$555.38 in New York, extending a meteoric rally that has seen the stock gain more than six times this year. The stock has risen nearly 28 per cent since the S&P Dow Jones Indices decided to add the company to the benchmark index from Dec 21. Tesla has become by far the world's most valuable automaker, despite a production that is a fraction of Toyota Motor, Volkswagen or General Motors. Shares of other electric vehicle (EV) makers have also risen in the last few months as US President-elect Joe B...

SeaPRwire
Read More

Bitcoin mania is back in flashback to 2017 as cryptocurrency tops US$19,000

elean
4 minutes

NEW YORK (BLOOMBERG) - Celebrity endorsements, exchange outages, rafts of new trading accounts - Bitcoin mania is back. In a flashback to the frenzied run-up to Thanksgiving 2017, retail traders are piling into cryptocurrencies and driving prices back toward all-time highs. The number of first-time buyers is on course to eclipse December 2017, EToro, an Israeli-British firm, said. Bitcoin trades per day are 81 per cent greater than the rest of 2020 combined. Google searches for "coinbase," the crypto exchange, reached the highest level in at least a year, according to Google Trends. And crypto Twitter hasn't been this giddy in a long time. A quick tour through various hashtags yields a wealth of frothy posts. There's the GIF of a beaming waitress serving up glasses of champagne. "We bout to be rich," goes the tweet. Another fan charts Bitcoin's performance since 2017 and says, "...and here we are again." "Nothing like a pre-Thanksgiving Bitcoin run," said Catherine Coley, CEO of Binance.US. Bitcoin climbed within US$100 of its all-time high after surpassing US$19,000 (S$25,495) for the first time since 2017. It's now up more than 40 per cent in November alone and has more than doub...

ACN Newswire
Read More

AppsFlyer Launches 19th Global Office in Sydney to Tap on ANZ’s AUD7.79 Billion Mobile Marketing Potential and Thriving Local App Industry

indie
6 minutes

SYDNEY, Nov 25, 2020 - (ACN Newswire) - AppsFlyer, the global attribution and marketing analytics leader, today announced its official expansion into Australia and New Zealand (ANZ) with its first office opening in Sydney - making this its 19th office worldwide. AppsFlyer counts design giant Canva, neobank 86:400, and fitness app Sweat by Kayla among its current roster of ANZ clients. This follows AppsFlyer's recent announcement that Salesforce Ventures has joined its roster of investors in a late stage extension of its AUD287 million Series D round, which was led by General Atlantic earlier this year. The company now exceeds AUD273 million in annual recurring revenue (ARR), with over 1,000 employees globally.By launching in ANZ, AppsFlyer hopes to support the region's rapidly growing local app economy by capitalising on the region's mobile marketing spend, which is expected to grow to up to AUD7.79 billion by 2021. According to AppsFlyer's first App Marketing in Australia and New Zealand 2020 report, although domestic apps currently occupy only 4% of the total ANZ app market share - with the US and China dominating at 29% and 12% respectively - growth potential for local apps is s...

SeaPRwire
Read More

Events sector gearing up to help Republic retain its edge

elean
4 minutes

With several pilot events under way and others to come, Singapore's meetings, incentives, conventions and exhibitions (Mice) industry is gearing up to ensure that the Republic retains its position as a leading Mice hub. Experts said that there is a first-mover advantage to be captured, and Singapore's handling of the coronavirus crisis means that it is ready to reinforce its position as a global Mice destination, but with the necessary precautions in place. The Singapore Tourism Board (STB) is currently processing up to 50 applications to hold pilot Mice events with up to 250 participants each. At least 20 pilot events have been approved so far. Applications opened early last month, with event organisers required to comply with strict safe management measures and guidelines. The pilot events like last month's Singapore International Energy Week and the upcoming TravelRevive, where prototypes such as meeting pods for Mice events are put in place, provide insights that enable measures and guidelines to be refined, said Dr Edward Koh, executive director of conventions, meetings and incentive travel at STB. Pilot antigen rapid testing for Covid-19 will be scaled up at TravelRevive to p...

SeaPRwire
Read More

MAS rolls out world’s first green loan grant scheme

elean
4 minutes

Companies of all sizes will get more support in securing green and sustainability-linked loans with a new grant scheme launched by the Monetary Authority of Singapore (MAS) yesterday. The initiative, called the Green and Sustainability-Linked Loan Grant Scheme, is a world first and will start in January next year, said MAS. It will also encourage banks to develop frameworks so that small and medium-sized enterprises (SMEs) can access such financing more easily. Green loans are those that help finance new or existing green projects, while sustainability-linked loans provide price incentives for borrowers to achieve sustainability performance targets. MAS managing director Ravi Menon said: "Loans are a key source of financing across Asia - be it for individuals, SMEs or large corporates. Therefore, there is significant opportunity to encourage firms across different industries to transition to more sustainable practices through green and sustainability-linked loans. "MAS' grants for green loans and bonds are an important part of the green finance ecosystem that Singapore is building - to support Asia's pivot towards a sustainable future." Singapore companies borrowed $10.2 billion th...

ACN Newswire
Read More

West Java Investment Summit (WJIS 2020): Governor Ridwan Kamil Welcomes Investors Worldwide to Invest in West Java

indie
8 minutes

Bandung, W Java, Indonesia, Nov 25, 2020 - (ACN Newswire) - The 2020 West Java Investment Summit (WJIS 2020) was held in Bandung City this week, Nov 16 to 19, hosted by the West Java provincial government in collaboration with the Bank of Indonesia Representative Office in West Java. Through the WJIS 2020, West Java Governor Ridwan Kamil invited international investors from around the world to invest in the province of West Java, particularly through the Rebana Metropolitan project.Rebana Metropolitan is the northern / northeastern area of West Java Province that includes the six districts of Sumedang, Majalengka, Cirebon, Subang, Indramayu, and Kuningan and the city of Cirebon. The Metropolitan area has a population of 9.28 million, or some 18.82% of the total 49.3-million populace of West Java as of 2019.As many as 1,434 foreign and domestic investors participated in the one-on-one meeting session on Monday, in which 16 land projects were offered with a total investment value of US$2.8 billion (Rp 39.5 trillion). Governor Ridwan Kamil offered the advantages of investing in West Java for international investors. First, West Java has quality infrastructure, and one of them is the P...

ACN Newswire
Read More

Trintech Announces the Expansion of Its Executive Team with the Addition of a Chief Human Resources Officer

indie
4 minutes

DALLAS, TX / ACCESSWIRE, Nov 25, 2020 - (ACN Newswire) - Trintech, a leading global provider of integrated Record to Report software solutions for the Office of Finance, today announced the appointment of Felicia Taylor as Chief Human Resources Officer (CHRO) of Trintech. With a focus on our employees, Taylor will help Trintech continue to build an engaged, inclusive, and high-performing culture. She will lead all aspects of human resources, including talent acquisition, talent development and learning, business partnerships, organizational development and effectiveness, compensation and benefits, diversity, inclusion and belonging, and operations and systems."Businesses don't create value; people do. Our employees are the heart of our business, which is why I am thrilled to announce the addition of a CHRO focused on continuing to provide our employees with a great place to work and ways to grow and develop their careers," said Teresa Mackintosh, Chief Executive Officer of Trintech. "Felicia's strong track record and rich experience in talent development and change management across international teams will help us to ensure we continue to build an agile culture of inclusivity and ...