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Singaporeans still out and about but more cautious as daily Covid-19 cases rise

aseanpr 19 9 月

4 minutes

SINGAPORE - Although Singaporeans continue to go out, many are taking more precautions like avoiding crowded areas as daily Covid-19 cases rise. Mr Edward Pang, 64, retired from being a taxi driver in March last year, fearing he would catch Covid-19 and infect his children. He said: "I don't go to crowded places any more, but I still go out for essential needs like buying food." At four shopping malls - Jem, Tampines 1, Century Square and Northpoint City - and at the Singapore Botanic Gardens and a wet market in Yishun last week, The Straits Times found that while there were crowds, people were keeping their distance from others. Even as a steady stream of customers went into the various shops, many appeared somewhat uneasy being out and about. Mr Sufiyan Sulaiman, 34, who has a one-month-old son and was leaving Century Square mall after getting his groceries, said: "Since I have a newborn, I've been making it a point to stay home unless really necessary. "Before this, my wife and I were going to a mall nearly daily. But even if not for him, I would probably cut down anyway since the numbers are going crazy." Dr Gurvin Gill, 34, who was waiting at a taxi stand at Tampines 1 mall on...

60% of job discrimination complaints in S’pore each year are nationality-based

aseanpr 15 9 月

3 minutes

SINGAPORE - Out of an average of 379 workplace discrimination complaints received each year from 2014 to the first half of 2021 by Singapore's fair employment watchdog, 233 - or around 60 per cent - were nationality-based, said Manpower Minister Tan See Leng on Tuesday (Sept 14). There were also complaints about discrimination based on age (69), gender (49) and race and language (39). There were 13 complaints that had to do with marital status and family responsibilities, as well as seven for religion-based and two for disability-based discrimination. Dr Tan shared these figures in written responses to parliamentary questions filed by labour MP Patrick Tay (Pioneer). All workplace discrimination complaints were investigated by the Tripartite Alliance for Fair and Progressive Employment Practices (Tafep), Dr Tan added. He reiterated what Senior Minister of State for Manpower Koh Poh Koon had told the House on Tuesday - that about two-thirds of reported cases are not substantiated, and the majority are misunderstandings that are subsequently clarified and not pursued further by either party. Out of 121 complaints referred to the Ministry of Manpower (MOM) for investigation, an averag...

The 29th Edition of the Trescon’s World AI & RPA Show Paved the Way for AI and RPA in the MENA Region

indie 11 9 月

6 minutes

MENA, Sep 11, 2021 - (ACN Newswire via SEAPRWire.com) - A clear, unambiguous, and widely communicated AI strategy is critical to the successful transformation of any IT organization; especially in this new normal. Pandemic or no pandemic - MENA had already witnessed an unprecedented adoption of AI over the past few years, and it continues to be one of the most vital and fast-growing businesses across MENA.To discuss this in detail, Trescon hosted more than 20 thought leaders and early adopters of future-tech who presented their ideas, innovations and case studies to an audience of IT Decision Makers, alongside leading solution providers such as Darktrace, Incorta, yellow.ai, Happiest Minds, and Uniphore to discuss the MENA region's AI prospects. The event focused on key topics such as Defensive AI technologies uniquely positioned to fight back, overcoming challenges of legacy infrastructure, data protection policy, skilled labour, and of course the pandemic situation which made shifting to Work from Home situations, Implementation of AI and RPA making the Govt. Operations more efficient, and much more.Some of the top speakers who attended the event included: - Eng Isha Aljassmy, IT...

Chip supply faces new crunch as Malaysia plants shut for a week

elean 9 9 月

3 minutes

KUALA LUMPUR (BLOOMBERG) - The Malaysian semiconductor firm Unisem will shut some plants for seven days after three employees died recently from Covid-19, dealing a fresh blow to the chip supplies that carmakers and other companies rely on. The company said it will close Ipoh plants in the state of Perak until Sept 15 to curb the spread of the disease, which chairman John Chia said had infected several employees and caused three deaths. The company will then limit the number of staff allowed into the facilities when they reopen. Unisem, which provides packaging and testing services, gets about 12 per cent of its revenue from the auto sector, 28 per cent from communications and 30 per cent from consumer segments. Unisem is one of several large Malaysian-based chip assemblers and testers for the likes of Infineon Technologies and STMicroelectronics. The suspension of its plants underscores how Covid-19 is disrupting key portions of a global supply chain already struggling with inadequate capacity, particularly for a variety of low-end chips that automakers from Tesla to Toyota Motor require to make their cars. The Japanese giant said last month it would suspend production at 14 plant...

‘Forever changed’: CEOs are dooming business travel – maybe for good

elean 1 9 月

11 minutes

NEW YORK (BLOOMBERG) - Business travel as we've known it is a thing of the past. From Pfizer, Michelin and LG Electronics to HSBC Holdings, Hershey, Invesco and Deutsche Bank, businesses around the world are signaling that innovative new communications tools are making many pre-pandemic-era trips history. Take Akzo Nobel, Europe's biggest paint maker, for instance. At its Amsterdam headquarters, chief executive officer Thierry Vanlancker has spent the past year watching his manufacturing head, David Prinselaar, flap his arms, madly gesticulate and seemingly talk to himself while "visiting" 124 plants by directing staff with high-definition augmented-reality headgear on factory floors. A task that meant crisscrossing the globe in a plane before is now done in a fraction of the time - and with no jet lag. For MR Vanlancker, there's no going back. "Trips to drum up business could drop by a third, and internal meetings by even more," he said in an interview. "It's a good thing for our wallets and helps our sustainability targets. Our customers have had a year of training, so it's not a social no-no anymore to just reach out by video... There's an enormous efficiency element." A Bloombe...

Equities gain, US dollar falls; Fed seen less eager to taper

elean 24 8 月

3 minutes

NEW YORK (REUTERS) - Global equity markets rose while the US dollar dipped on Monday (Aug 23) as investors grew less concerned that the Federal Reserve would soon begin changing its accommodative monetary stance. Market sentiment was buoyed after the US Food and Drug Administration granted full approval to the Pfizer Inc/BioNTech SE Covid-19 vaccine. New cases, driven by the highly infectious Delta variant, have surged in parts of the United States with lower vaccination levels. The dollar index slid. Last week it hit a nine-month high on bets that the Fed would start shifting away from its accommodative monetary policy, but that view began to change on Friday when Dallas Fed President Robert Kaplan said he might reconsider his hawkish stance if the virus harms the economy. Now, investors are less confident Fed Chair Jerome Powell's speech at Jackson Hole this week will indicate a timeline for winding down the Fed's bond-buying program. The dollar index, which measures the currency's performance against a basket of six major currencies, fell 0.516 per cent to 92.999. "There was a fear that they were going to announce tapering in Jackson Hole and start in September. But it now looks...

Is YouTube a success?

elean 22 8 月

4 minutes

(NYTIMES) - This question will sound ridiculous, but it isn't: Is YouTube a success? Please hold your boos. It's hard to imagine the Internet without YouTube. Buying the video site in its relative infancy was one of the smartest things Google ever did. But after nearly 15 years of being part of Google, the most successful money machine in Internet history, it's still not clear YouTube has fulfilled its financial potential both for itself and everyone involved in its vast digital economy. Two data points: The money that YouTube keeps from selling advertisements - its main source of income - was about US$11.2 billion (S$15.3 billion) in the past year, not much more than the ad revenue of ViacomCBS, a mid-tier American TV company that owns the CBS television network. Twitter, which is not so hot at money, pulls in roughly double the ad sales on average from each of its users compared with YouTube. No one should feel bad about YouTube. Yes, it's fine. But it says something about the vitality of the Internet that YouTube is probably the most vibrant economy online and it's still hard to call it an unqualified financial winner. And if YouTube isn't winning, its masses of video creators a...

5 celebrities who spoke out about their mental health struggles

aseanpr 1 8 月

2 minutes

SINGAPORE - United States gymnast Simone Biles' departure from the team competition was applauded by many for shedding light on the importance of mental health. Cha Hae Won lists five personalities who have similarly opened up about their mental health struggles. 1. Michael Phelps PHOTO: AFP Considered by many as one of the greatest swimmers of all time, the Olympic champion struggled with depression and anxiety in the past. He now spends his post-Olympic life raising awareness about mental health. 2. Adele PHOTO: AFP The Grammy-winning singer revealed in 2016 that she battled postnatal depression after her son's birth, opening up about a subject that many mothers have experienced. 3. Billie Eilish PHOTO: REUTERS Revealing her struggles with her newfound fame and body image, the singer has been vocal about her battle with depression, encouraging fans to reach out to others struggling with mental health issues. 4. DeMar DeRozan PHOTO: AFP The American basketball player revealed in 2018 that he had suffered from depression in the past. He is vocal about the need to have broader conversations about a person's mental well-being. 5. Ariana Grande PHOTO: REUTERS The singer opened up abou...

Intel in talks to buy chip giant GlobalFoundries for about $40.6 billion: WSJ

elean 16 7 月

2 minutes

BENGALURU (REUTERS) - Intel Corp is in talks to buy chip giant GlobalFoundries, a big investor in Singapore manufacturing, for about US$30 billion (S$40.6 billion), the Wall Street Journal reported on Thursday (July 15). Any deal talks do not appear to include GlobalFoundries directly, as a spokesman for the company told WSJ it was not in discussions with Intel, according to the report, which cited sources familiar with the matter. The talks come as a semiconductor shortage is hobbling industries around the globe. A deal could help Intel ramp up production of chips at a time demand is at its peak and the company is looking to start producing chips for carmakers that have struggled to keep operations running due to severe shortages. Intel, one of the last companies in the semiconductor industry that both designs and manufactures its own chips, said earlier this year it would expand its advanced chip manufacturing capacity by spending as much as US$20 billion to invest in factories in the United States. Intel said it intended to open its factories to outside chip designers, as it competes with Taiwan’s Semiconductor Manufacturing Co and Korea’s Samsung Electronics. GlobalFoundries, w...

Nasdaq ends lower as investors sell Big Tech

elean 16 7 月

3 minutes

NEW YORK (REUTERS) - The Nasdaq ended lower on Thursday (July 15), pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike. Nvidia tumbled 4.4 per cent and Amazon fell over 1 per cent, both companies contributing more than any others to the Nasdaq's decline. Facebook lost 0.9 per cent. The S&P 500 technology sector index fell 0.8 per cent and ended a four-day winning streak. Earlier this week, investors' favour for heavyweight growth stocks pushed the S&P 500 and the Nasdaq to record highs. The S&P 500 energy sector index fell 1.4 per cent and tracked a drop in crude prices on expectations of more supply after a compromise agreement between leading Opec producers. Data showed the number of Americans filing new claims for unemployment benefits fell last week to a 16-month low, while worker shortages and bottlenecks in the supply chain have frustrated efforts by businesses to ramp up production to meet strong demand for goods and services. Federal Reserve chairman Jerome Powell told lawmakers he anticipated the shortages and high inflation would abate. Yet many investors still worry that mo...

Bitcoin tumbles further as China tightens crypto crackdown

elean 22 6 月

3 minutes

LONDON (REUTERS)- Bitcoin tumbled on Monday (June 21) to a two-week low on China's expanding crackdown on Bitcoin mining, as investors grew more uncertain about the future of the leading cryptocurrency. Bitcoin fell as low as US$31,333, a two-week trough, dragging down other cryptocurrencies. It was last down 10.7 per cent, its largest daily percentage loss in a month. The world's biggest cryptocurrency has lost more than 20 per cent in the last six days alone and was at half its April peak of almost US$65,000. Year to date, it remained up about 11 per cent. Some Bitcoin investors were concerned further losses could be in store due to a chart formation known as a death cross which occurs when a short-term average trendline crosses below a long-term average trendline. China has been tightening its crackdown on cryptocurrencies. On Friday, the authorities in the south-west province of Sichuan ordered Bitcoin mining projects to close. Last month the State Council, China's cabinet, vowed to clamp down on mining and trading as part of a campaign to control financial risks. On Monday, China's central bank said it recently summoned some banks and payment firms, including China Constructio...

Markets adjusting to new emerging normal

elean 21 6 月

4 minutes

SINGAPORE - After "talking about talking about" tapering for months, the United States Federal Reserve finally acknowledged the build-up of inflationary pressures, sending markets into a tizzy during the past week. While suggesting a potential end to its quantitative easing in about two years, the Fed last Wednesday gave no indication as to when it would begin cutting back on its bond-buying programme. "You can think of this meeting that we had as the 'talking about talking about' meeting," Fed boss Jerome Powell said in a phrase that recalled a statement he made a year ago that the Fed was not "thinking about thinking about raising rates". Nevertheless, policymakers indicated at least two rounds of hikes in 2023, but done in a measured manner so as not to disrupt the financial markets. But the news was enough to trigger a knee-jerk selldown of stocks, making it the worst week on Wall Street since October last year. The Dow Jones fell sharply last Friday, the second consecutive weekly loss for the big board index, which ended at 33,290.08 for a 3.4 per cent loss. The broader S&P index lost 2 per cent to end at 4,166.45, while the tech-heavy Nasdaq ended flat for the week at 14,030....

Thailand’s CP Group Selects Anacle’s Simplicity Commercial Real Estate Solution for Lotus’s

indie 17 6 月

2 minutes

Singapore, June 17, 2021 - (ACN Newswire via SEAPRWire.com) - Anacle Systems Limited ("Anacle") has been selected by Thailand's Charoen Pokphand Group ("CP Group") after a rigorous vendor selection process to implement Simplicity® Commercial Real Estate Management (CommREM) solution for the Lotus's subsidiary. Lotus's currently operates the largest retail chain in Thailand, with more than 2,000 stores and 46,000 tenants. Lotus's will leverage the sophisticated Simplicity® software to streamline its operations and fully automate the financial, tenancy, customer relationship and utilities management processes."Asset managers are constantly pressured to deliver yield in this rapidly evolving market but many lack data or capabilities to perform analytics. Simplicity® is the most comprehensive solution designed to address the pressing need for end-to-end streamlined systems and big data analytics. Anacle is honored to be selected by Lotus's and we are committed to help the brand achieve its goal in this challenging market," said Alex Lau, CEO of Anacle Systems Limited. About Anacle Systems LimitedAnacle is a leading provider of asset and property management software, as well as smart ut...

Wall St ends lower, pulled down by tech stocks

elean 18 5 月

2 minutes

NEW YORK (REUTERS) - Wall Street stocks ended lower on Monday (May 17), weighed down by tech shares as signs of growing inflation worried investors about the potential for tighter monetary policy. Of the 11 major S&P sectors that declined, technology and consumer were among the biggest losers. "What is causing the decline, no surprise to anybody, is the worry about inflation and interest rates," said Sam Stovall, chief investment strategist at CFRA Research in New York. "As a result that's causing the growth group, in particular technology and consumer discretionary stocks, to experience weakness, while some of the more value-oriented groups are holding up a bit better." The S&P 500 scored its biggest one-day jump in more than a month on Friday as investors picked up beaten-down stocks following a pullback earlier in the week on worries about inflation and a sooner-than-expected tightening by the US Federal Reserve. Unofficially, the Dow Jones Industrial Average fell 56.12 points, or 0.16 per cent, to 34,326.01, the S&P 500 lost 10.42 points, or 0.25 per cent, to 4,163.43 and the Nasdaq Composite dropped 50.93 points, or 0.38 per cent, to 13,379.05. Earnings this week will be scrut...

AmCham survey flags potential expatriate exodus from Hong Kong

elean 12 5 月

2 minutes

HONG KONG (REUTERS) - More than 40 per cent of the members of the American Chamber of Commerce in Hong Kong plan to or are considering leaving the financial hub, with most citing discomfort with a sweeping national security law as one reason, a survey showed on Wednesday (May 12). The legislation imposed by Beijing in 2020, which punishes secession, subversion, terrorism and collusion with foreign forces with up to life in prison, has further strained relations between the United States and China. The AmCham survey, to which 325, or 24 per cent of the business organisation's members responded between May 5 and May 9, showed 42 per cent of them had considered leaving or planned to leave Hong Kong. Of those planning to move out, 3 per cent said they intended to do so immediately, 10 per cent said before the end of the summer and 15 per cent before year-end, while 48 per cent eyed a move within three to five years. About 62 per cent of those looking to leave ticked "the national security law makes me uncomfortable" as one of the reasons. Some 36 per cent cited concerns that the law would impact the quality of their children's education in the city. "Previously, I never had a worry abo...

1,200 travellers daily at Changi in March, but number of workers arriving still insufficient: Lawrence Wong

aseanpr 11 5 月

4 minutes

SINGAPORE - Arrivals at Changi Airport have increased from about 820 a day last November to 1,200 in March. Giving an update to the House on the Government's response to Covid-19 on Tuesday (May 11), Education Minister Lawrence Wong said in Parliament that one reason for this increase is the taking in of more migrant workers in the construction, marine and process (CMP) sectors, as well as foreign domestic workers. This group was also the largest contributor to Singapore's imported cases, at about 40 per cent over the past six months, although a tighter screening and quarantine process was implemented even as the numbers went up, he said. "These imported cases were already in SHN (stay-home notice) when we detected them, and were not in contact with the community," he said, adding that the increased inflow was still insufficient to meet the needs of firms here. Mr Wong also said that while there was no medical evidence that new Covid-19 variants have a longer incubation period, there was always a "very small tail risk" of such cases. This was why Singapore moved recently to a tighter, 21-day SHN regime for travellers from all higher-risk countries during this period of heightened a...

Investors watching US economic data for signs of inflation, and Fed’s response

elean 10 5 月

4 minutes

SINGAPORE - Inflation and control of the pandemic remained major overhangs during the past week as equity markets continued to plod higher, supported by a flush of liquidity and low interest rates. With the exception of large techs, Wall Street continued to see gains with the Dow Jones rising another 2.7 per cent during the past week to 34,777.76 points. The broad-based Nasdaq edged up 1.2 per cent to 4,232.6 points as earnings continued to please. But despite a recovery on Friday, tech stocks faced significant headwinds, causing the tech-heavy Nasdaq to give up 1.5 per cent last week to 13,752.24 points. Concerns about inflationary pressures and proposals for capital gains tax in the US could continue to weigh down tech plays in the week ahead, analysts reckon. In Singapore, the Straits Times Index ended flattish for the week at 3,200.26 points despite strong performances by blue chips and banks. The big concern for market remains inflation, and the reaction of central bankers to perceived price rises. But disappointing April job numbers in the United States - just some 266,000 jobs were created, against expectations of 1 million - has somewhat tamped down expectations that the US...

Over 800 sign up as volunteers in new programme to spread accurate CPF information

aseanpr 28 4 月

5 minutes

SINGAPORE - When scientist Chin Zan Xin received her very first salary slip about five years ago, she thought it must have been calculated wrongly as her take-home pay was 20 per cent less than the monthly salary she was offered. It was only after doing some research online that she realised the sum had been added to her Central Provident Fund (CPF) accounts. The 28-year-old is now a volunteer with the CPF Board's Community Paying it Forward movement, which was officially launched on Wednesday (April 28) in conjunction with the global Pay It Forward Day. Like Ms Chin, more than 800 people have signed up as volunteers since January this year to share information with their networks about CPF, debunk misinformation and provide feedback to improve CPF services. They will be supported through a CPF Volunteering mobile application, said the CPF Board. CPF Board chief executive Augustin Lee said: "The idea for this movement came about because there are many fans of CPF out there who discovered the benefits of CPF later in life and wished that they had known about them much earlier." Ms Chin said that after learning more about the CPF system, she decided to use it as a tool to build the f...

Jail, caning for non-teaching staff member who molested ‘cute and adorable’ boy in primary school

aseanpr 6 4 月

2 minutes

SINGAPORE - A man working as an operations support officer in a primary school took a liking to an eight-year-old boy he found "cute and adorable". Chong Choon Ying hugged the pupil in school on numerous occasions when no one else was around. In early 2017, he wrapped his left hand around the boy's shoulders and used his other hand to touch the boy's groin. The boy did not tell his teachers or parents about this at first as he thought no one would believe him. He finally broke his silence about two years later and told his father about what Chong had done to him. Chong, a 48-year-old Singaporean, pleaded guilty on Tuesday (April 6) to a molestation charge and was sentenced to 14 months' jail and one stroke of the cane. A second molestation charge was taken into consideration during sentencing. The boy cannot be named because of a gag order to protect his identity, and details about the school have been redacted from court documents. Deputy Public Prosecutor Heershan Kaur said Chong had spotted the boy at his workplace while carrying out duties, which included maintenance work and locking up the classrooms after school hours. He started hugging the boy soon after. The DPP said: "Acc...

Jobs that can make you rich

elean 21 3 月

4 minutes

(NYTIMES) - I know money can't buy you love, but wouldn't it be nice to have enough money to buy whatever else you want? The most likely way to become rich is to try to get into a line of work that's hard to get into, particularly if the people in that profession are the ones setting the rules for entry. For example, if you want to become rich, tech may be a less likely way than you suppose. In 2019, about 2.4 per cent of software developers made it to the top 1 per cent of earners. As economist Jonathan Rothwell points out in his book, A Republic Of Equals, as at 2015, there were nearly eight times as many software developers in the United States as there were dentists, but nearly as many dentists in the top 1 per cent as there were software developers. The odds are also against you if you go into the engineering professions. Just about 2.2 per cent of electrical engineers made it to the top 1 per cent, and just about 3.3 per cent of chemical engineers, and about 0.8 per cent of industrial engineers. The arts aren't so hot either. Even just among people who manage to make a living as an actor, a director or a producer, just about 2.1 per cent made it to the tippy top. What's wrong...

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