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At a time when a safe and healthy home has never been more important, Habitat for Humanity serves 5.9 million more people through new or improved housing

MANILA, Nov 18, 2020 - (ACN Newswire) - A safe, decent, and healthy home has been the first line of defense for families around the globe during the COVID-19 pandemic. Thanks to the work of Habitat for Humanity, more than 5.9 million people accessed better housing in the last year, according to the global nonprofit's fiscal year 2020 annual report released today. In Asia and the Pacific region, Habitat has helped more than 1.9 million people have access to better housing.The report highlights how the organization addressed the need for safe, decent and affordable shelter worldwide, under mounting headwinds from the pandemic that restricted some of the ways Habitat traditionally executes its mission. With many of the organization's usual activities affected by the spread of COVID-19 over the course of the fiscal year (July 1, 2019 - June 30, 2020), its affiliated organizations in more than 70 countries and 1,100 communities across the United States found ways to adapt and continue serving."While this year has brought many challenges and heartaches to communities we serve across the world, I'm grateful that Habitat has had an opportunity to serve so many families when they needed it ...

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Tesla to join S&P 500 next month as largest-ever new member

NEW YORK (BLOOMBERG) - Tesla, Elon Musk's 17-year-old upstart carmaker, took a giant step toward blue-chip respectability on Monday (Nov 16), getting named to one of the world's most famous stock indexes in an action that will greatly broaden its investor base. The announcement that Tesla will enter the S&P 500 on Dec 21 follows months of speculation, and one temporary setback, after the stock failed to make the cut during the index's quarterly rebalancing in early September. The anticipation has helped drive a nearly fivefold rally in the stock this year to almost US$390 billion (S$524.6 billion), making the electric vehicle (EV) pioneer the biggest company ever to be added to the gauge. It will also be one of the index's most influential constituents with a weighting that falls around those of Berkshire Hathaway Inc., Johnson & Johnson and Procter & Gamble Co. It's so big that S&P Dow Jones Indices said it is seeking feedback from the investment community to determine if Tesla should be added all at once or in two separate pieces. The company that Tesla is to replace in the index will be named later, the index provider said. Tesla shares rose as much as 15 per cent to US$467.50 o...

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

Good morning! Here are our top stories to kick-start your Monday, Nov 16. 15 countries, including Singapore, sign RCEP, the world's largest trade pact They comprise all 10 Asean members and key partners Australia, China, Japan, South Korea and New Zealand. READ MORE HERE TraceTogether app's upgrade will make contact tracing smoother for tourists The app will be upgraded by next month to allow tourists to do SafeEntry check-ins at shopping malls and dining venues. READ MORE HERE Who should be first to get access to a Covid-19 vaccine in Singapore? A committee has been formed to prioritise the people who should be given the vaccines as they become available. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Trump backtracks on acknowledging Biden won election, concedes ‘nothing' Twitter flagged the posts to indicate that the claims of election fraud are disputed. READ MORE HERE Why Biden will be tougher on China than Obama Congressional dynamics and popular sentiments in the US support a more confrontational stance. READ MORE HERE NTUC LearningHub CEO Kwek Kok Kwong dies at age 53 It is believed Mr Kwek collapsed after a cycling session wit...

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Morning Briefing: Top stories from The Straits Times on Nov 15

Good morning! Here are our top stories to kick-start your Sunday, Nov 15. East Asia Summit leaders call for greater cooperation to tackle pandemic, economic crisis Countries must work together to rebuild economies, said PM Lee Hsien Loong. READ MORE HERE Stuck at sea: Seafarers who kept international trade humming despite Covid-19 Sailors around the world are stuck on ships due to the pandemic as few ports let crew disembark. READ MORE HERE A trade pact nearly 10 years in the making: 5 things to know about RCEP The world's largest trade pact is set to be signed on Sunday (Nov 15). READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Picking a reusable mask: Breathability v filtration efficiency With so many types of masks available, the question is: How effective are they against Covid-19 ? READ MORE HERE Lunch With Sumiko: Pastry chef Janice Wong on what sweet dreams are made of The dessert queen tells Executive Editor Sumiko Tan that chefs need an identity, and must innovate. READ MORE HERE Older interns impress with growth mindset Firms value their perspectives and past experience and younger interns view them as role models. READ MORE HE...

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

Good morning! Here are our top stories to kick-start your Saturday, Nov 14. Will Covid-19 create a 'lost generation' in Asia? What is the impact of the Covid-19 pandemic on the young people of Singapore and Asia? READ MORE HERE Trump appears to acknowledge for first time that Biden could succeed him He appears to acknowledge the possibility of a Biden administration, in first public remarks since election loss. READ MORE HERE Hospitals should have flexible designs to adapt to changing needs, says Gan Kim Yong Changing demographics and disease patterns will require a changing model of care, he said. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Biden solidifies US election victory over Trump, with 306 electoral votes to 232 Biden wins Georgia, while Trump claims victory in North Carolina. READ MORE HERE More than 130 US Secret Service agents struck by Covid-19: Media Numerous agents had travelled to campaign rallies with Trump where many officials and most of the attendees went maskless. READ MORE HERE Family takes Covid-19 pandemic in its stride for Deepavali festivities While some customs have been disrupted this year, the spirit of ...

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Helping firms deploy robots more easily and at lower cost

The disruptions on labour force and global supply chains amid the Covid-19 crisis have made companies and industries see the unique value of robots in mitigating the impact. Local start-up Cognicept Systems wants to seize this opportunity to make it easier and cheaper for firms to deploy robots in areas such as logistics and cleaning, through its technology and remote robot pilots. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Saving Christmas from Covid-19 critical for Britain’s economy

LONDON • Britain knows Christmas is coming when John Lewis Partnership launches its television ad. Selling the season as a time for acts of charity rather than any particular product, this year's edition will focus on food poverty and struggling parents. Yet as the coronavirus continues to wreak havoc, it is the department store chain itself that is now a window on the festive period in a country that relies more on consumer spending than any of the big European economies. With a partial lockdown in England closing all non-essential stores until at least Dec 2, rescuing the next six weeks from Covid-19 is critical for Britain's financial well-being and a government beset by accusations that it cannot get a grip on the pandemic. Further disruption to what retailers call the "golden quarter" could be disastrous for an industry that has already been battered. November and December account for one of every £5 of retail spending. The slump during Britain's spring lockdown precipitated the record decline in gross domestic product. It then contributed to most of the recovery in the third quarter reported by the Office for National Statistics on Thursday. The latest lockdown could cost ret...

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A third of the world’s air routes have been lost due to Covid-19

SYDNEY (BLOOMBERG) - Before the coronavirus, a decades-long aviation boom spawned a network of nearly 50,000 air routes that traversed the world. In less than a year, the pandemic has wiped almost a third of them off the map. Border closures, nationwide lockdowns and the fear of catching Covid-19 from fellow passengers have crippled commercial travel. As thousands of domestic and international connections disappear completely from airline timetables, the world has suddenly stopped shrinking. The crisis is unwinding a vast social and industrial overhaul that took place during half a century of air-travel proliferation. In years to come, overseas business trips and holidays will likely mean more airport stopovers, longer journey times, and perhaps an additional mode of transport. Even when an effective vaccine is found, the economic reality of the recovery may mean some non-stop flights are gone for good. With borders effectively shut from Europe to New Zealand, the bulk of the world's dropped routes are inevitably cross-border. But thousands of domestic legs have also been axed, reflecting the pressure airlines face at home as they cut jobs and retire aircraft to find a cost base th...

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Oil gains nearly 3% on vaccine hopes, even as nations reimpose lockdowns

NEW YORK (REUTERS) - Oil ended nearly 3 per cent higher on Tuesday (Nov 10) as hopes that a Covid-19 vaccine is on the horizon outweighed worries about a drop in fuel demand from new lockdowns to contain the virus. Brent crude futures settled up US$1.21, or 2.9 per cent, at US$43.61 per barrel. US West Texas Intermediate (WTI) crude futures gained US$1.07, or 2.7 per cent, to US$41.36. Both contracts jumped 8 per cent on Monday, their biggest daily gains in more than five months, after drugmakers Pfizer and BioNTech said their experimental Covid-19 treatment was more than 90 per cent effective based on initial trial results. Oil bounced again on Tuesday afternoon after the director of the US National Institute of Allergy and Infectious Diseases, Anthony Fauci, said doses of the vaccine will be available for people at the highest priority in December. "This implies that at some point in next year, people may be able to go on vacation, which means we will see a greater demand for jet fuel," said Bob Yawger, director of energy futures at Mizuho. "For the energy complex this is the best thing since sliced bread," he added. Mass rollouts, however, are likely to be months away and subjec...

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

Good morning! Here are our top stories to kick-start your Tuesday, Nov 10. Up to 100 patrons allowed at clubs under S'pore nightlife pilot; karaoke joints open to groups of up to 5 Patrons must show proof of having taken a Covid-19 test in the last 24 hours before they can enter. READ MORE HERE Biden announces 13-member Covid-19 task force, urges Americans to wear masks as cases soar "A mask is not a political statement,” said Mr Biden. READ MORE HERE Biden's memorable visit to S'pore in 2013 included surprise stop at hawker centre He drank $3 lime juice at the hawker centre and stopped to chat with diners. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Republican Senator McConnell says Trump within his rights to probe US election 'irregularities' McConnell did not acknowledge Biden as president-elect or Harris as vice president-elect. READ MORE HERE Why Pfizer's ultra-cold Covid-19 vaccine will not be at the local pharmacy any time soon The vaccine needs to be kept at minus 70 deg C or below, posing logistical and storage challenges. READ MORE HERE TraceTogether check-in at venues is better, (cyber) safer New system is more effective ...

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Oil soars 8% on promising Covid-19 vaccine results

NEW YORK (REUTERS) - Oil surged about 8 per cent on Monday (Nov 9), putting it on track for its biggest daily gain in more than six months after Pfizer announced promising results for its Covid-19 vaccine, boosting risk assets around the globe. Brent crude was up US$3.11, or 7.9 per cent, at US$42.56 a barrel at 1:35pm EDT (1835 GMT), while US West Texas Intermediate crude rose US$3.31, or 8.9 per cent, to US$40.45. Both contracts rose more than US$4 earlier in the session and traded more than 120 per cent of last session's volumes. "The oil complex is joining in the bullish euphoria of today's optimistic vaccine headlines as well as the weekend election results by trailing the equities higher," said Jim Ritterbusch of Ritterbusch and Associates in Houston. Pfizer said its experimental vaccine was more than 90 per cent effective in preventing Covid-19, based on initial data from a large study, a victory in the battle against a pandemic that has forced lockdowns around the world and led to a drop-off in fuel demand. Wall Street, which oil prices often follow, reached all-time highs after the announcement. Meanwhile, Saudi Arabia said an Opec+ oil output deal could be adjusted to bal...

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

Good morning! Here are our top stories to kick-start your Saturday, Nov 7. Biden close to US election victory as Trump presses on with legal bids; Georgia recount likely Biden's lead in Pennsylvania, with its 20 electoral votes, is expected to grow as mail-in ballots come in. READ MORE HERE Some S'pore night spots under pilot to reopen by December This comes about nine months into the closure of nightlife venues. READ MORE HERE The Disunited States: The widening gap that faces the winner of the US election It would take an extremely optimistic voter to believe that any sort of reconciliation is possible. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news State of play: A look at the key battleground US states The states are Pennsylvania, Georgia, Arizona and Nevada. READ MORE HERE Ah Ma, are you on WhatsApp? Rapid digitalisation may be leaving some vulnerable groups behind The pandemic has accelerated the adoption of techn in some areas but may have also widened the digital divide. READ MORE HERE Passengers board first cruise to nowhere out of Singapore These round-trip cruises, without ports of call, are taking place under a pilot STB pro...

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US job growth stronger than expected in October

WASHINGTON • The US labour market improved in October by more than forecast, defying expectations for more subdued gains amid an intensifying Covid-19 pandemic and lack of additional fiscal relief. Non-farm payrolls increased by 638,000 after an upwardly revised 672,000 gain in the previous month, according to a Labour Department report yesterday. That compared with the 580,000 median estimate of economists surveyed by Bloomberg, and reflected a decline of 147,000 in temporary census workers. The unemployment rate in the United States fell to 6.9 per cent from 7.9 per cent, a bigger decline than economists projected. Progress in the US labour market is holding up as household savings help fuel spending and business investment rebounds, providing whoever wins the presidential election with an economy that is in better shape than many analysts expected just six months ago. But jobs remain 10 million below pre-pandemic levels, and with coronavirus infections rising at a record rate this week, maintaining the pace of hiring may be difficult. Other figures point to an increasingly fragile labour market beneath the headline numbers. The number of permanent job losses was at 3.7 million l...

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Morning Briefing: Top stories from The Straits Times on Nov 6

Good morning! Here are our top stories to kick-start your Friday, Nov 6. US election: Biden urges patience, Trump mounts legal bids as White House race narrows Biden is 6 electoral votes away from the minimum of 270 needed to win. READ MORE HERE MOM won't take further action against Liew Mun Leong's family over illegal deployment of Parti Liyani MOM had initiated a review of the case and conducted further investigations. READ MORE HERE Trump campaign loses legal fights in Georgia and Michigan, vows Nevada lawsuit One judge said there was “no evidence” that ballots were invalid. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news Trump, Biden supporters stage protests across US, as vote tally trickles in Ballot counting drags on in a handful of states that will decide the election. READ MORE HERE US presidential election: The pandemic may have the last laugh The coronavirus crashed Trump’s booming economy and drove a surge in mail-in ballots. READ MORE HERE HSBC sues Lim family, saying they 'fraudulently deceived' bank into lending US$111.7 million to Hin Leong It's the first bank to take legal action against oil tycoon Lim Oon Kuin to recov...

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Two special education schools to be redeveloped and located at new joint campus in 2025

SINGAPORE - Two special education schools serving students with mild intellectual disability will have a joint campus, and redeveloped to accommodate more students. Chaoyang School and Tanglin School, which are both run by the Association for Persons with Special Needs, will also have more facilities to cater to students across the autism spectrum. The special education (Sped) schools will be located at the former Da Qiao Primary School in Ang Mo Kio in 2025. Chaoyang School is currently also located in Ang Mo Kio and Tanglin School is in Bukit Merah. At the new site, Chaoyang School will provide 400 primary-level places and Tanglin School will have 350 secondary-level places. They currently have 320 and 260 students enrolled respectively. Minister of State for Education Sun Xueling, who spoke to reporters during a visit to Chaoyang School on Thursday (Nov 5), said the schools hope to provide more places for children with mild intellectual disability who live in the north-Eastern and central regions of Singapore. Ms Sun, who is also Minister of State for Social and Family Development, said it will be more convenient for families to have both schools located at the same site. It wil...

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Whoever wins US election, investors see China, green and easy money bets as winners

LONDON/HONG KONG/SINGAPORE (REUTERS) - The close and inconclusive US election has scuppered some short-term trades premised on a clear Joe Biden sweep, but money managers say they are sticking to bets on plentiful stimulus, a Chinese rebound and a green boom, regardless of who triumphs. US President Donald Trump's battle against Biden, the Democratic challenger, is going down to the wire, with millions of votes still to be counted as more states report results. From trade to taxation to climate, the two men have vastly different policy platforms. Biden's pledge to tie the US economic recovery to tackling climate change is set against Trump's desire to remove regulatory hurdles to oil, gas and coal. Lulled by Biden's opinion poll lead, some investors had positioned for higher US bond yields and renewables shares. Some of those trades took a hit - shares in US solar firms and European wind farms fell, while US Treasuries gained and European shares initially underperformed. Traders were also quick to dump automotive stocks as the spectre of more Trump protectionism resurfaced following years of a trade war with China. "We expect quite a lot of market volatility. However, the core inve...

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Wall Street rises but market braced for choppy trade in US election week

NEW YORK (REUTERS) - The Dow and S&P closed higher on Monday (Nov 2) with the Nasdaq posted slimmer gains on the eve of the US presidential election, as investors girded for what could be big market swings after all three indexes notched their biggest weekly decline since March. Market participants largely expected short-term volatility and the likelihood of major long-term policy shifts related to taxes, government spending, trade and regulation depending on whether Republican President Donald Trump or his Democratic challenger Joe Biden wins the White House race. Biden is ahead in national opinion polls, but races are tight in battleground states that could tip the election to Trump. Analysts said the outcome most likely to shake equity markets in the near term would be no immediate winner on Tuesday night. While the Dow and S&P were on the plus side, they ended well off session highs, and the Nasdaq dipped into the red as mega-cap technology and tech-related names struggled to gain traction after slumping in the prior week. Growth stocks edged higher, but were soundly outperformed by beaten-down value names, which tend to provide better returns coming out of a recession, and not...

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Morning Briefing: Top stories from The Straits Times on Nov 1

Good morning! Here are our top stories to kick-start your Sunday, Nov 1. Lunch With Sumiko: 2020 feels like a lifetime for Lawrence Wong Thrust into the spotlight as co-chair of the government task force on Covid-19, Lawrence Wong has come into his own. Executive Editor Sumiko Tan sits down with the Education Minister, whom some pundits think could well be a contender for prime minister one day. READ MORE HERE Sex and consent on campus: S'pore universities still grappling with sexual misconduct incidents More than a year after the Monica Baey voyeurism saga, Singapore universities are still grappling with incidents of sexual misconduct. What has been done to address the problem? READ MORE HERE Long, harsh winter for S'porean students in US and Europe as Covid-19 cases spike They say other students on campus are blase about adopting safeguards. READ MORE HERE More on this topic Related Story ST newsletters: Get alerts on the latest news 'Stay at home': UK PM Johnson imposes new national lockdown as Covid-19 cases top 1 million The lockdown is set to begin on Nov 5 and last until Dec 2. READ MORE HERE GuessWhereSG: Explore remote spots around Singapore Venture out with The Sunday Tim...

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Retail business closures hit 10-month high in September

Home-grown department store Robinsons has become the latest high-profile casualty in a growing list of retailers that the Covid-19 pandemic has claimed. Business cessations in the retail trade sector hit a 10-month high in September, with 457 companies calling it quits, according to figures from the Accounting and Corporate Regulatory Authority. Topshop, Esprit and Sportslink were among those that have bowed out or moved their operations online as safety restrictions and tighter purse strings dent store sales. Another wave of closures is expected after relief to protect qualifying commercial tenants unable to pay rent from eviction and hiked up interest rates ends on Nov 19, said retailers and observers. Winter wear retailer Universal Traveller, for example, is facing the possibility of folding if it is unable to work out a rental payment plan with landlords for its five outlets. With travel off the cards for most Singaporeans this year and few tourists in sight, its sales are down by up to 90 per cent. Reserves are running dry for the three-decade-old business, and pivoting is not easy with cash tied up in inventory, chief executive Trey Poh told The Sunday Times. Mr Terence Yow, ...

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Robinsons’ closure: Retailers in Singapore struggle amid 10-month high in closures for sector, more expected to shutter

SINGAPORE - Home-grown department store Robinsons has become the latest high-profile casualty in a growing list of retailers that the Covid-19 pandemic has claimed. Business cessations in the retail trade sector hit a 10-month high in September, with 457 companies calling it quits, according to figures from the Accounting and Corporate Regulatory Authority. Topshop, Esprit and Sportslink are among those that have bowed out or moved their operations online as safety restrictions and tighter purse strings dent store sales. Another wave of closures is expected after relief to protect qualifying commercial tenants unable to pay rent from eviction and hiked up interest rates ends on Nov 19, said retailers and observers. Winter wear retailer Universal Traveller, for example, is facing the possibility of folding if it is unable to work out a rental payment plan with landlords for its five outlets. With travel off the cards for most Singaporeans this year and few tourists in sight, its sales are down by up to 90 per cent. Reserves are running dry for the three-decade-old business, and pivoting is not easy with cash tied up in inventory, chief executive Trey Poh told The Straits Times. Mr T...