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Data shows fall in big-ticket start-up investments

elean 18 1 月

2 minutes

SINGAPORE - The global pandemic has had a profound impact on the appetite to invest in new start-ups, according to data compiled by global data analytics specialist GlobalData. The British-based data research firm found that big-ticket, billion-dollar deals were mostly non-existent during the October-December quarter of last year. Of the total 3,603 global deals during the quarter that disclosed deal value, 66.2 per cent were low-value deals, with US$10 million (S$13 million) or less investment value, while those valued at more than US$100 million stood at just 4.2 per cent. GlobalData lead analyst Aurojyoti Bose cited investor caution as the main reason for the fall in investment quantum. He said: "With tough market conditions and an uncertain business environment, cautiousness prevails among investors when committing to big-ticket investments." Venture capital (VC) investment volume (deals with disclosed deal value) decreased by 14.7 per cent from 1,357 deals in October to 1,158 in November, and further shrank by 6 per cent to 1,088 last month In October, low-value deals stood at 69.1 per cent of the total deal volume, while the share of deals valued more than US$100 million stoo...

Morning Briefing: Top stories from The Straits Times on Jan 17

aseanpr 17 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Sunday, Jan 17. All travellers to S'pore need to take Covid-19 PCR test on arrival from Jan 25 Foreign workers will also need to take PCR and serology tests once they arrive in Singapore. READ MORE HERE Malaysians debate govt flip-flops on movement curbs as Covid-19 cases hit record high Some are puzzled by what businesses should be open or shut with the MCO imposed again. READ MORE HERE A mother hopes for answers in her 7-year-old child's murder case from 1995 A pink tin box filled with memories of her daughter is never too far from the 65-year-old's bed. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Lunch With Sumiko: Pritam Singh on the need to keep calm and stay grounded Mr Singh believes that when things are going good, it's best to keep your feet grounded and not get overly exuberant. READ MORE HERE Hawkers go online to boost sales of festive goods in lead-up to Chinese New Year 20 hawkers at Chinatown Complex have joined a pilot online store. READ MORE HERE Feeding wildlife in Singapore is a lose-lose situation: Experts People often feed wildlife out of compassion, but e...

Morning Briefing: Top stories from The Straits Times on Jan 16

aseanpr 16 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Saturday, Jan 16. Covid-19 deaths top 2 million amid global lockdowns and fresh outbreaks It took 9 months to hit a million deaths globally, but just over 3 months to reach the next million. READ MORE HERE 57-year-old Singaporean housewife is sole Covid-19 community case The patient was detected when she took a Covid-19 pre-departure test for a trip to Vietnam. READ MORE HERE WhatsApp delays data-sharing change after backlash sees users flock to rivals It has cancelled its Feb 8 deadline for accepting the tweak to its terms of service. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Trump's fraught legacy in Asia Did America's influence wax or wane under his watch? READ MORE HERE Singapore Resets: How to build back better after Covid-19 What will a post-pandemic Singapore look like? READ MORE HERE 25 police dogs test negative for Covid-19 after contact with infectious para-vet in K9 unit Three police officers who were in close contact with the officer have also been quarantined. READ MORE HERE Fewer Singapore businesses wound up last year in spite of pandemic The shutters came do...

Singapore resets: How to build back better after Covid-19

aseanpr 16 1 月

2 minutes

SINGAPORE - The Covid-19 pandemic has wreaked havoc around the world over the past year, disrupting businesses and upending livelihoods, as well as bringing about considerable changes to the way we live, work and travel. At the same time, the outbreak has exposed systemic weaknesses and revealed opportunities to improve the way things were previously done. Insight speaks to experts in six sectors to learn how Singapore can build back better – whether it is by embracing the work-from-home revolution, adapting to blended learning, or changing the way food makes its way from the kitchen to our dinner plates. Back to the workplace of the future Hybrid, flexible model – incorporating office, home and satellite workspace options – seen as the new normal. READ MORE HERE Eateries expand revenue streams, online presence With restrictions still in place, F&B outlets looking to improve resilience to pandemics. READ MORE HERE Tapping changes in commuting patterns to rethink concepts When it comes to longer-term investments in transport infrastructure, changes in commuting patterns could throw a spanner in the works. READ MORE HERE Technology set to change face of medical care Radical changes b...

TES Agrees Minority Equity Investment with Sojitz

indie 15 1 月

3 minutes

With recent concerns surrounding resource depletion and uneven commodity resource distribution, the resource recycling business is expected to become increasingly important. This investment means TES can combine its extensive capability base with Sojitz's deep experience in metals and comprehensive resource recycling businesses to develop and innovate outcomes for commodities that will become a significant source of raw materials in the coming decades. Sojitz will partner with TES to promote TES services in Japan, and Sojitz's extensive network will leverage TES's lithium-ion battery recycling and energy storage businesses."TES's mission is to make a decade of difference by securely, safely and sustainably transforming and re-purposing 1 billion kilograms of assets by 2030," said Gary Steele, TES' Chief Executive Officer. "Sojitz's experience and shared vision of a more sustainable world make them an ideal partner for TES. The Sojitz investment reaffirms that, and we couldn't be more excited about partnering with them to offer sustainable technology solutions that drive the circular economy in Japan."TES is backed by Navis Capital Partners, one of Southeast Asia's largest private e...

Morning Briefing: Top stories from The Straits Times on Jan 14

aseanpr 14 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Thursday, Jan 14. Trump becomes first US president to be impeached twice All 222 House Democrats and 10 Republicans voted to charge Trump with incitement of insurrection. READ MORE HERE Trump denounces political violence after being impeached His message comes as violent demonstrations were anticipated across the United States this week. READ MORE HERE 26 ill, including 5 in hospital, after eating food from Eng’s Heritage at Northpoint City The restaurant had its licence suspended after customers suffered gastroenteritis symptoms. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Pinkish-purple waters at Sentosa South Cove waterway after dead fish found near banks Marine experts identified rabbitfish, moonyfish, batfish and leatherjacket fish among the dead fish. READ MORE HERE Worker from India found to have Covid-19 during routine testing, first dorm case in S'pore since Dec 15 The man stays at Seatown Dormitory in Tuas and started work in the construction sector on Jan 6. READ MORE HERE askST: Can WhatsApp and Facebook read my messages or listen in to my calls? WhatsApp has clar...

Bitcoin plunge deepens beyond 20%, shaking faith in crypto boom

elean 12 1 月

3 minutes

NEW YORK (BLOOMBERG) - A steep selloff in Bitcoin is fueling concern that the cryptocurrency bubble may be about to burst. Bitcoin slid as much as 26 per cent over Sunday (Jan 10) and Monday in the biggest two-day slide since March. After dropping as much as 20 per cent during New York trading hours on Monday, the price continued to fluctuate wildly. Bitcoin has wiped out about US$185 billion (S$246 billion) in value since Friday, more than the market capitalization of 90 per cent of individual companies in the S&P 500. "It's to be determined whether this is the start of a larger correction, but we have now seen this parabola break so it might just be," said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore. Bitcoin has more than quadrupled in the past year, evoking memories of the 2017 mania that first made cryptocurrencies a household name before prices collapsed just as quickly. Prices almost reached US$42,000 on Jan 8 with retail traders and Wall Street investors clamoring for a piece of the action. "It was a parabolic move," said Matt Maley, chief market strategist at Miller Tabak + Co. "What happens with all parabolic moves? You see severe corre...

Singaporeans encouraged to give e-hongbao this Chinese New Year as safer, environmentally friendlier option

aseanpr 11 1 月

4 minutes

SINGAPORE - With Chinese New Year around the corner, the "hongbao" - or red packets - traditionally exchanged during this period are on the minds of many Singaporeans. While hongbao are usually given hand-to-hand, it has become common practice in China for relatives to send each other e-hongbao via messaging app WeChat. In a statement on Monday (Jan 11), the Monetary Authority of Singapore (MAS) encouraged Singaporeans to opt for e-hongbao this Chinese New Year. "They will help to reduce queues for physical notes and are more environmentally friendly," MAS said. One way to send e-hongbao is via PayNow. Those who bank with Citibank, DBS Bank , OCBC Bank, Standard Chartered Bank, UOB and Maybank will soon be able to add Chinese New Year greetings and graphics when they do so. The messages can be sent via WhatsApp or SMS. "PayNow enables the tradition of giving hongbao to continue, digitally and safely. Customers may contact their bank for more information on how to send hongbao digitally with PayNow," said the Association of Banks Singapore in a separate statement on Monday. Some Singaporeans prefer gifting new physical notes but these are often returned to the banks by the public af...

Elon Musk debates how to give away world’s biggest fortune

elean 11 1 月

4 minutes

(BLOOMBERG)- Elon Musk is not only the world's richest person, he lays claim to the biggest net worth ever recorded: US$209.3 billion (S$277.4 billion) as of Friday. What he does with it will be closely watched. Judging by Twitter, the Tesla co-founder's preferred medium of communication, philanthropy is on his mind. One of his first reactions on becoming the wealthiest human - after an initial shrug - was to solicit advice on how to give it away. Musk, 49, is a philanthropy neophyte compared with those he just leapfrogged on the Bloomberg Billionaires Index of the world's 500 wealthiest people. Longtime No. 1 Bill Gates and his friend Warren Buffett, co-founders of the Giving Pledge initiative that urges the ultra-wealthy to donate at least half their fortunes, have each given away tens of billions in cash and stock. Even Jeff Bezos, who has been criticised for being slow to establish himself as a philanthropist, has stepped up his game. He pledged to give US$10 billion to issues related to climate change last year and handed out US$791 million to 16 environmental groups in November. Despite signing the Giving Pledge, Musk has done relatively little publicly in the way of charity....

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

aseanpr 10 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Sunday, Jan 10. Indonesian plane crashes into the sea with more than 60 on board The Boeing 737-500 jet was carrying 50 passengers, including seven children and three infants, and 12 crew members. READ MORE HERE 234 Crowne Plaza hotel staff test negative for Covid-19 MOH closed the hotel from Friday until Jan 21 as a precautionary measure. READ MORE HERE Why Singapore consistently excels in the IB exams Some of the schools which offer the programme take in better students to begin with, observers said. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Muhyiddin's parliamentary majority in jeopardy as Umno MP withdraws backing Muhyiddin’s Perikatan Nasional has only 110 lawmakers backing it in the 220-member Parliament. READ MORE HERE Post White House, Trump’s personal power base remains potent weapon Trump's power base is personal. And the more beleaguered he seems, the more his base rallies around him. READ MORE HERE US ends curbs on official American contacts with Taiwan: Pompeo The move is likely to anger China and increase US-Sino tensions in the waning days of Trump’s presiden...

Morning Briefing: Top stories from The Straits Times on Jan 9

aseanpr 9 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Saturday, Jan 9. Govt to pass law to ensure TraceTogether data can be used only for serious crimes The Government also acknowledged its error in not stating earlier that such data can be used for criminal probe. READ MORE HERE Covid-19 vaccine 101: All you need to know, from what to expect to how safe it is From safety to efficacy and the nation's vaccination strategy, Insight answers all the key questions. READ MORE HERE Twitter permanently suspends Trump's account "We have permanently suspended the account due to the risk of further incitement of violence," Twitter said. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Experts and lawmakers aghast at US Capitol security failure As many as 60 Capitol Police officers were injured in the mayhem, many hit with lead pipes. READ MORE HERE Three million masks every minute: How Covid-19 is choking the planet Did you know that the surge in the use of disposable masks could lead to a growing environmental problem that may last much longer than the pandemic itself? READ MORE HERE S'porean man is 3rd Covid-19 community case found among Crow...

Morning Briefing: Top stories from The Straits Times on Jan 8

aseanpr 8 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Friday, Jan 8. US Democratic leaders call for Trump's removal from office as Cabinet member quits House of Representatives Speaker Nancy Pelosi said Mr Trump posed an ongoing danger to the country. READ MORE HERE Facebook, Instagram to block Trump's accounts for rest of his presidential term Social media companies have been under pressure to police misinformation about the US election. READ MORE HERE Crowne Plaza Changi Airport closed for two weeks after second Covid-19 case emerges The hotel staff is a Malaysian woman who delivers pre-packed meals to air crew and hotel guests. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news askST: What do we know so far about children who are infected with Covid-19? Children and young people have a much lower risk of contracting the virus. READ MORE HERE Trust, TraceTogether and treatment of cancer patients How ministers deal with mistakes when things go wrong can erode or strengthen trust, says associate editor Chua Mui Hoong. READ MORE HERE World Economic Forum meeting in Singapore moved to May 25-28 The conference was originally scheduled to ...

Airlines try ultra-cheap fares to get the world flying again

elean 8 1 月

9 minutes

NEW YORK (BLOOMBERG) - The nightmare year of 2020 brought the airline industry's first decade of sustained profitability to a shuddering halt. The coronavirus pandemic tore through in a tumultuous, unprecedented way - leaving carriers in a deep hole, along with a constellation of aerospace manufacturers, airports and leasing firms. 2021 is shaping up to be a transition year for an enterprise that takes passengers on the equivalent of 208 million annual trips around the globe. At best, the path ahead will be bumpy, with progress toward a return to travel dependent on the pace of vaccine roll-outs, access to capital, government policies and the unpredictability of a virus that's not yet fully understood. Still, there will be leaps, including the first commercial flights to near-space. Here are some developments to look for over the next 12 months. Fare wars Airline traffic won't see a major boost until vaccines saturate populations enough to stamp down infection rates. Even then, it may take effort to get some people back on planes. In Europe, that'll mean fares as low as 9.99 euros (S$16.23), according to Ryanair Holdings chief executive officer Michael O'Leary. The Irish discounter...

Wall Street tops new highs on Democrat-driven stimulus hopes

elean 8 1 月

3 minutes

NEW YORK (REUTERS) - Stocks on Wall Street hit record levels on Thursday (Jan 7) as investors bet a Democrat-controlled Congress will deliver more stimulus spending to help the US economy overcome a steep pandemic-induced downturn. The Dow, S&P 500 and Nasdaq all set new highs amid growing calls for President Donald Trump's removal, one day after Trump supporters stormed the US Capitol in a harrowing assault on American democracy. US House Speaker Nancy Pelosi urged Trump's immediate removal from office through the 25th Amendment. President-elect Joe Biden accused Trump of fomenting violence and said Wednesday was one of the darkest days in US history. "The market is now looking past Trump and it's looking forward to a Biden presidency, more structure and stimulus," said Dennis Dick, a trader at Bright Trading LLC. "A Democratic Congress is going to obviously be more concerned about the small businesses, and the Main Street." Economy-linked financials jumped while industrial and materials sectors hit new records on expectations Biden will line up a bigger fiscal package and boost infrastructure spending with Congress under Democrat control. Rate-sensitive bank shares gained, tracki...

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

aseanpr 7 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Thursday, Jan 7. Woman shot inside US Capitol dies after pro-Trump protesters storm building The city is under curfew and the National Guard has been deployed after protesters stormed barricades. READ MORE HERE Democrats gain control of US Senate with wins in Georgia Jon Ossoff was proclaimed the winner in the second of two Senate runoff races. READ MORE HERE America's toxic divide explodes and anger likely to remain The US is a tinderbox with a population deeply divided, says US bureau chief Nirmal Ghosh. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Hongkongers shocked and divided by arrests of pro-democracy leaders The city's pro-Beijing lawmakers welcomed the arrests but others see it as a purge of the opposition. READ MORE HERE NUS had 71 complaints of sexual misconduct involving students in past five years The number was highest in 2019, when 25 such reports were made. READ MORE HERE Korean man who works at Crowne Plaza Changi Airport among 2 new unlinked Covid-19 community cases in S'pore A preliminary test showed he was positive for the more infectious UK strain of Covi...

Morning Briefing: Top stories from The Straits Times on Jan 3

aseanpr 3 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Sunday, Jan 3. Malls and restaurants buzzing on first weekend of Singapore's phase 3 reopening Strong winds and wet weather did not deter Singaporeans from making the most of the long weekend. READ MORE HERE Rainfall on Saturday among highest in Singapore in past 39 years The amount of 210.6mm is more than half of Singapore's average monthly rainfall in January. READ MORE HERE Malaysia's high-speed rail project without Singapore stop is redundant: Transport experts It will likely end up a white elephant if it is built, analysts said. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Time for Singapore to do more to stub out smoking? The Jan 1 raising of the minimum age limit for smoking to 21 is the latest step to manage the harm of tobacco. But some feel more needs to be done. READ MORE HERE Covid-19 testing tightened for shore-based staff in Singapore's maritime sector They will be tested every 7 days in the light of 2 cases in which a marine surveyor and a harbour pilot tested positive for Covid-19. READ MORE HERE Police probing group of 44 who were drinking, smoking, singing in...

Don’t need CPF Life? Use it for charity

elean 3 1 月

1 minute

For Singaporeans who have done well in building wealth and have more than enough to last them a lifetime, here is an idea on how you can make use of CPF Life. You can turn it into a gift for charities that will keep on giving for as long as you live. 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.

Morning Briefing: Top stories from The Straits Times on Jan 2

aseanpr 2 1 月

2 minutes

Good morning! Here are our top stories to kick-start your Saturday, Jan 2. KL-Singapore High Speed Rail cancellation will have little impact on other plans for Jurong: Experts Jurong's status as the economic and social centre in the west predated the HSR and will survive it. READ MORE HERE How Covid-19 killed the Kuala Lumpur-Singapore HSR project Cancellation a necessary move to shore up Malaysia's economy against the more immediate onslaught of the pandemic. READ MORE HERE 2nd RGS student tests positive for Covid-19; Mandarin Orchard hotel to reopen The 14-year-old is a friend of Case 58,843, who is a family member of a marine surveyor who was also a confirmed case. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Existing measures in Singapore can contain fast-spreading Covid-19 strain: Experts However, things may change if the UK variant starts transmitting in ways that could not be nipped in the bud through contact tracing and testing. READ MORE HERE Hopes and challenges: What to expect in 2021 Joe Biden becomes US president. Vaccines and Covid-19's long shadow. Revised PSLE. ST looks ahead to the new year and new uncertainties. REA...

Karaoke outlet suspended for letting 51 people consume alcohol at midnight on Christmas

aseanpr 30 12 月

2 minutes

SINGAPORE - A karaoke outlet has been ordered to suspend operations for 20 days for failing to comply with Covid-19 safe management measures on Christmas Day. MZS Family Karaoke in the Orchard Road area was found to have allowed large groups of more than five customers on its premises, and to have let them consume alcohol at 12.05am, the Ministry of Sustainability and the Environment (MSE) said on Wednesday (Dec 30). The karaoke outlet stopped operations from last Friday. The ministry added that the police are investigating 51 individuals for not complying with safe distancing measures. Separately, seven more food and beverage (F&B) outlets were fined $1,000 each for breaching safe management measures between Dec 18 and last Saturday. These breaches include admitting and seating groups of more than five customers, allowing groups to mingle, seating groups less than 1m apart, and providing games to patrons despite not being an amusement centre. In phase three of Singapore's reopening, which kicked in on Monday, F&B outlets are allowed to accept bookings for groups of up to eight people. But mingling between groups, as well as the serving and consumption of alcohol after 10.30pm are ...

Morning Briefing: Top stories from The Straits Times on Dec 29

aseanpr 29 12 月

2 minutes

Good morning! Here are our top stories to kick-start your Tuesday, Dec 29. SIA steward who works as part-time Grab driver is Singapore's sole Covid-19 community case The 48-year-old man is asymptomatic, and was detected through proactive testing arranged by the CAAS. READ MORE HERE Bosses in S'pore unlikely to mandate Covid-19 vaccination for staff: Experts Companies may offer incentives for staff to get the shots, such as giving them time off. READ MORE HERE US House approves US$2,000 coronavirus aid cheques sought by Trump It is not clear how the measure to increase aid checks will fare in the Senate. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Dance troupe withdraws from Chingay 2021 after criticism over tap dance segment The withdrawal "is in consideration of the young dancers affected by cyber bullying", the troupe said. READ MORE HERE Storing up Covid-19 memories: Project helps future generations of S'poreans understand 2020 Submissions explore life here from many perspectives, including photos of panic buying in supermarkets. READ MORE HERE Downtown Line hit by signalling fault during evening peak hour: SBS Transit The journe...

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