that

US stocks end solidly higher in post-election surge

elean 5 11 月

3 minutes

NEW YORK (AFP) – Wall Street stocks jumped on Wednesday (Nov 4) as markets absorbed the latest developments in the still-unresolved US presidential contest and apparently shrugged off the risk of legal challenges by President Donald Trump. The Dow Jones Industrial Average climbed 1.3 per cent to finish at 27,847.66, rising for a third straight session. The broad-based S&P 500 gained 2.2 per cent to 3,443.44, while the tech-rich Nasdaq Composite Index advanced 3.9 per cent to close at 11,590.78. Analysts attributed the rally to the demise of a “blue wave” election outcome that would have seen a complete Democratic sweep of Washington, including a takeover of the Senate and a White House win by Joe Biden. Biden is still well positioned to win the presidency, carrying leads in key states, but the Senate looks poised to remain in Republican hands. That outcome will “moderate” policies from Washington, lessening the chances of major tax increases or overhauls to health care and other realms, said Shawn Cruz, senior market strategist at TD Ameritrade. The market had “a little bit of a collective sigh of relief,” Cruz said. Investors for now have shrugged off worries about a protracted le...

Some tapped savings, borrowed heavily to get a piece of Ant IPO

elean 5 11 月

3 minutes

HONG KONG • Mom-and-pop investors who put in bids worth a record US$3 trillion (S$4.1 trillion) in China's Ant Group were stunned after regulators abruptly suspended what would have been the world's largest stock market debut. China blocked the fintech giant's US$37 billion listing on Tuesday, thwarting its debut in Hong Kong and Shanghai and dealing a blow to the company founded by Alibaba's billionaire co-founder Jack Ma. Retail investors in the two markets - from taxi drivers to students to young professionals - used their savings and borrowed heavily from banks and brokerages for what many saw as a once-in-a-lifetime investment opportunity. "I feel like I made a very wrong decision," said 21-year-old Hong Kong resident and Cambridge student Vincent Tse, who applied for 2,000 shares worth around HK$160,000 (S$28,000), a sum he earned doing a part-time job. "This situation really reveals a deep problem in the Chinese market and shows a lack of experience in holding such a large (initial public offering)," he said, adding that he will no longer invest in Ant and will instead reinvest in US, European or Japanese stock markets. In China, investors cited the changing business environ...

Parliament: Phase 3 could last over a year, restrictions may be reimposed if cases spike again

aseanpr 4 11 月

6 minutes

SINGAPORE - Phase 3 of the nation's reopening in the wake of Covid-19 could last a year or more, Health Minister Gan Kim Yong told Parliament on Wednesday (Nov 4). Ms Cheng Li Hui (Tampines GRC) had asked about phase 3, including what factors are taken into account when deciding on the maximum number of people allowed for various events, what safeguards will be put in place when activities resume on a larger scale, and what might happen if cases were to surge again. In response, Mr Gan reiterated that phase 3 - which Singapore could move into by year-end if the virus remains under control here - would not be a return to pre-Covid days. It would last until the rest of the world has the virus under tight control or when effective treatments or vaccines are widely available, he added. This means that measures must be put in place to enable everyone to stay safe while continuing to live, work and mark major life events. Mr Gan said group size limits depend on factors such as how frequently an activity takes place, what potential risks it has, and whether additional safety measures can be implemented to mitigate such risks. Pointing to the large clusters of Covid-19 cases that had forme...

Ex-cleaner sentenced to life in jail, 18 strokes of the cane for killing supervisor with grass cutter

aseanpr 4 11 月

4 minutes

SINGAPORE - Barely a month into his new job at Tanah Merah Ferry Terminal, a 27-year-old Malaysian cleaner had an argument with his supervisor, stabbed her with a pair of grass cutters, and bludgeoned her as she pleaded for mercy. Ahmad Muin Yaacob then stole the gold Madam Maimumah Awang, 54, was wearing, hid her body in a drain, and fled across the Causeway to Malaysia where he pawned the jewellery partly to pay for his wedding in Kelantan two weeks later. On Wednesday (Nov 4), Ahmad Muin was sentenced to 18 strokes of the cane and life imprisonment. In a courtroom filled with Madam Maimumah's family members, the court heard that during the altercation on Nov 24, 2016, Ahmad Muin was alone with her when he attacked her, thrusting the blades of the grass cutters into her chest. She fell and pleaded with him not to harm or kill her. She tried to get up, but he repeatedly hit her head with the grass cutters. He then pulled her body to a 1.8m drain outside, removed the drain covers, pushed her in and closed the covers. Having taken Madam Maimunah's jewellery and phone, he took a taxi to Woodlands Checkpoint, where he got on a bus to Johor. He pawned one of her bracelets for RM1,000 (...

US stock futures climb with early vote counts coming in

elean 4 11 月

4 minutes

NEW YORK (BLOOMBERG) - US equity futures pointed to further gains after the biggest two-day rally since September, while Treasury futures slid as investors speculated America would get a clear election decision and Congress will deliver a spending bill this year. December contracts on the S&P 500 added 0.7 per cent as of 7.25pm in New York. The cash index jumped 3 per cent in the past two days. The US dollar fell and Treasury futures dropped as trading kicked off in Asia. Polls have started closing on much of the East Coast, including in some key battle grounds like Georgia. Florida and Pennsylvania accept votes until 8pm. Final polls taken before voting began on Tuesday showed Democrat Joe Biden with a solid lead nationally over Republican Donald Trump, adding to speculation a winner could be declared without protracted legal battles. "Where markets have concern is uncertainty - if we have a disputed outcome," Stephen Dover, head of equities at Franklin Templeton, said by phone. "So the market is telling us today in this big up market that there's a likelihood of having some clarity about the outcome within the next week or so." Markets have been volatile during the final weeks of...

Jack Ma’s blunt words just cost him US$37 billion

elean 4 11 月

5 minutes

HONG KONG (BLOOMBERG) - Jack Ma is a very busy man. China's richest man has been busy launching the world's biggest IPO. He has been busy preparing for Alibaba Group Holding's grandest four-day Double Eleven shopping extravaganza. And yet two weeks ago, Ma somehow found the time to opine on China's banking system at a high-profile financial forum in Shanghai, once again throwing himself into the eye of the storm. In that speech, apart from labeling the global banking Basel Accords as an "old people's club," Ma said "systemic risk" is not the issue in China. Rather, China's biggest risk is that it "lacks a financial ecosystem." Chinese banks are like "pawn shops", where collateral and guarantees are the hard currencies. As a result, some decided to go so big they are not allowed to fail. "As the Chinese like to say, if you borrow 100,000 yuan from the bank, you are a bit scared; if you borrow a million yuan, both you and the bank are a little nervous; but if you take a one billion yuan loan, you are not scared at all, the bank is," Ma said. The consequences came this week. On Monday (Nov 2), Beijing's top financial watchdogs summoned Ma and dressed him down. Beijing also issued draf...

Covid-19: Automated wireless system that monitors blood oxygen successfully piloted

aseanpr 3 11 月

5 minutes

SINGAPORE - A new weapon has been added to Singapore's arsenal against Covid-19: an automated system that monitors oxygen levels in the blood. Low blood oxygen could be a symptom of Covid-19. The new system utilises Bluetooth-enabled pulse oximeters to measure blood oxygen levels. It will help automate manual tasks and compile pulse oximeter readings from thousands of individuals neatly on a dashboard. A team of researchers from the National University of Singapore (NUS) - in consultation with clinicians from the National University Hospital and Singapore General Hospital - worked on the new system from April to June. The project was also supported by both Temasek Foundation and the National Research Foundation. This new system consists of several components: wireless nodes to capture data from the Bluetooth-enabled pulse oximeters, individual Bluetooth-enabled pulse oximeters which individuals can use to take their readings, WiFi stations and a dashboard that presents the data. Workers living in dormitories need to measure and record their oximeter readings twice a day as part of precautionary measures to identify new cases of infection. This process is currently done manually. Wi...

Jobless man of unsound mind ordered to be detained after trial for murdering 75-year-old father

aseanpr 3 11 月

3 minutes

SINGAPORE - A 46-year-old man of unsound mind was ordered to be detained at the President's pleasure on Tuesday (Nov 30) after the High Court found, following a trial, that he had killed his 75-year-old father. Justice Valerie Thean concluded that Tan Kok Meng, who was left alone for three hours with his father at their Bedok North flat, had caused the death of the older man on Nov 13, 2015. Although Tan was found to have committed the alleged acts, under the law, he was acquitted of murder due to his mental incapacity. Two psychiatrists from the Institute of Mental Health had diagnosed him with schizophrenia and found that he was probably of unsound mind during the killing. One of them said Tan was also in a state of acute drug intoxication during the incident as he had taken methamphetamine then. Tan will be confined in a psychiatric institution, prison or some other place of safe custody. There is no minimum period of detention and the mental state of the detainee is reviewed regularly until he is suitable for discharge. After the verdict, Tan appeared to be in good spirits and was allowed by the court to speak to a few family members. He was on trial for murder and was accused ...

Singapore’s education and training sector must adapt to stay competitive globally: Chan Chun Sing

aseanpr 2 11 月

4 minutes

SINGAPORE - The education sector in Singapore may be well-regarded, but it must continue to keep pace in the global market, Minister for Trade and Industry Chan Chun Sing said on Monday (Nov 2). Speaking to the media after a virtual visit to a class at the National Institute of Early Childhood Development, Mr Chan said there are "tremendous opportunities" to relook how training and education is conducted in the industry and beyond Singapore. He mapped out four broad changes in the education sector, which he said must evolve to remain competitive. The first change is that learning cannot be limited to the initial 15 to 20 years of a person's life anymore, said Mr Chan. "It is no longer about just compulsory education, but it is about continuing education," he said, adding that Singapore has to find new ways of educating adult learners, which will be an increasingly important sector for the country. Mr Chan said the second trend that Covid-19 has hastened is how learning is now not just offline, but also online. "There are both benefits of online and offline teaching methods. The challenge for us is to make sure that we combine both methods and get the best outcome for our students,"...

Captiva Verde Comprehensive Update

indie 2 11 月

6 minutes

Coquitlam, British Columbia, Nov 2, 2020 - (ACN Newswire) - Captiva Verde Land Corp. (CSE: PWR) (OTC: CPIVF) (the "Company"), is pleased to report an update on all of our major operating business segments plus our recommendation of a financial newsletter written by an award winning portfolio manager.Financial Newsletter - Grit CapitalCaptiva Verde sponsored an investor event in Las Vegas in December 2019 with Grit Capital. Beginning November 1, 2020, Grit Capital has launched a very efficient and easy to read, fun, exceedingly informative, and highly impactful Investment Newsletter that covers emerging trends, themes and investment ideas which is based on where big money and momentum is moving in the market, long before the general investing public studies the available information. The newsletter is written by Genevieve Roch-Decter, CFA, a former $100 Million+ small cap portfolio manager who's fund was ranked #1 for 3 of the 7 years she ran it (as ranked by Globe & Mail - GlobeFunds). We strongly recommend all of our shareholders and all interested friends and family to subscribe to the free newsletter at https://gritcapital.substack.comSolargram Farms ("SGF")SGF just complete...

MHA refutes allegations by Australian national that he saw inmates being walked to execution

aseanpr 2 11 月

3 minutes

SINGAPORE - The Ministry of Home Affairs has refuted the allegations of an Australian national who said he suffered here while in remand for drug charges. Businessman Philip George Sceats gave an account of his time behind bars to Australian media, after he was granted a discharge not amounting to an acquittal for his drug charge last year. He said he was a "broken man" after close to a year behind bars, claiming to have seen 14 fellow inmates being "walked to their execution" - a fate he faced as he had been charged with importing cocaine. He also claimed that he was subjected to a strict regime under which inmates were caned "on the bare bum" if they did something wrong, and that his cell lights were never turned off. In response to queries from The Straits Times, MHA clarified on Sunday (Nov 1) that contrary to his assertions, Mr Sceats "was never housed together with inmates on death row". He was kept instead in a separate area meant for remanded persons at Changi Prison, said the ministry, which oversees the Central Narcotics Bureau (CNB) and Singapore Prison Service. The ministry also noted that the cells for those in remand are fitted with lights that are scheduled to automa...

US presidential election: Looking beyond the Oval Office

elean 2 11 月

1 minute

SINGAPORE - As investors confront the upcoming United States presidential election, we believe that, in terms of market impact, two uncertainties dwarf the obvious question of who will win the White House. The first question is whether there will be a smooth transition of power. In past elections, a predictable process was mostly taken for granted, but we should not do so this time given multiple red flags that President Donald Trump is prepared to contest the election. These include his refusals to commit to accepting the results, his claims of widespread voter fraud and, more tellingly, Mr Trump's prediction that the outcome will be decided by the Supreme Court. 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.

US presidential election: Looking beyond the Oval Office

elean 2 11 月

1 minute

As investors confront the upcoming United States presidential election, we believe that, in terms of market impact, two uncertainties dwarf the obvious question of who will win the White House. The first question is whether there will be a smooth transition of power. In past elections, a predictable process was mostly taken for granted, but we should not do so this time given multiple red flags that President Donald Trump is prepared to contest the election outcome. These include his refusals to commit to accepting the results, his claims of widespread voter fraud and, more tellingly, his prediction that the outcome will be decided by the Supreme Court. 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.

4 things landlords in Singapore should look out for in a Covid-19 market

elean 1 11 月

1 minute

The landlord of a new luxurious condo was especially proud that his unit came with the most expensive and sophisticated kitchen appliances. But never did he expect that this would result in a misfortune for him - his tenant's domestic helper misused one of the appliances and triggered an explosion and fire. While no one was hurt in the incident, the condo suffered serious damage that needed $75,000 to fix. Luckily for the owner, he had adequate home insurance to pay for it. 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.

Retail business closures hit 10-month high in September

aseanpr 1 11 月

4 minutes

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, ...

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

aseanpr 1 11 月

4 minutes

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...

Singapore strongly condemns terrorist attack at church in Nice

aseanpr 31 10 月

2 minutes

SINGAPORE - Singapore strongly condemns the terrorist attack at the Notre Dame Cathedral in Nice in the south of France on Oct 29, said the Ministry of Foreign Affairs (MFA) on Saturday (Oct 31). "It had resulted in the death and injury of innocent people in a place of worship. We extend our deepest condolences to the bereaved families, and wish the injured a swift recovery," said the MFA of the knife attack that beheaded a woman and killed two others. The suspected attacker, a 21-year-old Tunisian immigrant who had recently arrived in France was shot before taken away by the police. "There can be no justification for such attacks against innocent civilians. Singapore has a zero-tolerance policy against all forms of violence and extremism," MFA added. The French government has raised the national security alert to its highest level following the knife attack that occurred about two weeks after a school teacher in a Paris suburb was beheaded by an 18-year-old attacker who was reportedly incensed by the teacher showing a cartoon of the Prophet Muhammad in class. "Security measures and surveillance can be expected to be reinforced. Singaporeans in France are advised to remain vigilant...

Ex-food deliveryman jailed for telling e-scooter users last year to start a riot after LTA announced ban

aseanpr 30 10 月

3 minutes

SINGAPORE - While working as a Foodpanda deliveryman, a man sent messages to his colleagues in two chat groups, rallying personal mobility device (PMD) users to gather at Punggol Park, arm themselves with weapons and cause injury to others. Benny Mok Swee Tian committed the offence on Dec 30 last year, in the wake of the Land Transport Authority's (LTA) announcement prohibiting e-scooters on footpaths. The 35-year-old Singaporean was sentenced on Friday (Oct 30) to eight weeks' jail and a fine of $500. He had pleaded guilty earlier to creating an electronic record containing an incitement to commit acts of violence and an unrelated theft charge involving five comic books worth nearly $37 in total. The court heard that Mok, who switched to becoming a social media marketing executive, had sent the messages one day before the end of an advisory period LTA gave to e-scooter users. The advisory period, between Nov 5 and Dec 31 last year, was for e-scooter users to adjust to the new rule. Deputy Public Prosecutor Chong Yong said that the first chat group had over 2,000 members and the second had more than 4,000. One of Mok's colleagues saw the offender's message at 3.09pm in one chat gro...

Robinsons to close last stores at The Heeren and Raffles City

aseanpr 30 10 月

5 minutes

SINGAPORE - Robinsons is liquidating its two department stores at The Heeren and Raffles City Shopping Centre, the retailer said on Friday (Oct 30). This means that Robinsons' last two stores will be closing and the company will be exiting from the Singapore physical retail scene after 162 years. Robinsons said in a statement that the liquidation decision was made after the store’s "inability to continue operations due to weak demand at department stores". Mr Danny Lim, Robinsons' senior general manager, said: "We regret this outcome today. Despite recent challenges in the industry, the Robinsons team continued to pursue the success of the brand. However, the changing consumer landscape makes it difficult for us to succeed over the long term and the Covid-19 pandemic has further exacerbated our challenges. "We have enjoyed success over the years, and it has been an honour for Robinsons to serve the Singapore market. I am grateful for the dedication of our team, and for the support shown by our customers over the years." Robinsons said that the dual trend of more people turning to online shopping and lower demand for department stores is to blame for slumping retail sales, a problem...

New Hougang Heritage Trail places spotlight on historic heartland gems

aseanpr 29 10 月

5 minutes

SINGAPORE - In a 3km-stretch along Upper Serangoon Road stands three religious institutions that have stood the test of time. The Church of the Nativity of the Blessed Virgin Mary, Hougang Tou Mu Kung Temple and Haji Yusoff Mosque have a combined age of almost four centuries, with two - the church and the temple - gazetted as national monuments. The road itself is almost 200 years old. These places of worship were among 18 sites on the National Heritage Board's (NHB) latest self-guided trail - the Hougang Heritage Trail - that was unveiled on Thursday (Oct 29). The trail, the NHB's 20th, follows the launch of another heartland trail in Pasir Ris last December, when NHB said it was working to launch more such heartland trails to bring the nation's heritage to the doorsteps of Singaporeans. The new Hougang trail also features the highest number of community contributions of all of NHB's trails, with 28 individuals familiar with Hougang contributing their stories through interviews and photos. Previous trails mostly had between 10 and 20 community contributions. Such contributions help make the trail more interesting for visitors, said NHB deputy chief executive of policy and communit...

Copyright © 2020 ASEANPR.Com All rights reserved.