World

In meeting today’s great challenges: Think ‘moonshot’
11Jun By Desk TeamNo Comments
Asia, Market, World

In meeting today’s great challenges: Think ‘moonshot’

Moonshots are in. I’m not referring to space travel, although the regular launches and landings of space probes suggest that the conventional use of the word is apropos. Here, “moonshots” are grand, government-backed missions that unite the considerable powers of the state, its scientists and its entrepreneurs to accomplish a single goal. There are many potential moonshots, from creating a vaccine for COVID-19 to solving global warming. What differentiates them from other problems is that they address extraordinary, if not existential, challenges. The pursuit of moonshots is forcing a reassessment among governments that normally — wrongly in many cases — view industrial policy as an aberration, a dangerous indulgence that is inefficient at best and corrupt at worst. China’s impressive pe...
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Japan’s exports seen posting largest monthly gain since 2010 – Reuters poll
11Jun By Desk TeamNo Comments
World

Japan’s exports seen posting largest monthly gain since 2010 – Reuters poll

Japan's exports likely grew more than 30per cent year-on-year in April, the most in more than a decade, a Reuters poll showed on Friday, but the base effect was a major factor after last year's steep decline due to the initial impact of the coronavirus pandemic. TOKYO: Japan's exports likely grew more than 30per cent year-on-year in April, the most in more than a decade, a Reuters poll showed on Friday, but the base effect was a major factor after last year's steep decline due to the initial impact of the coronavirus pandemic. The world's third-largest economy has recovered largely due to solid overseas demand that has boosted output and exports, even as a resurgence of coronavirus infections are dampening consumption. Next week's key data include machinery orders and consumer and w...
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2-passenger limit for taxis, private-hire cars during tightened COVID-19 restrictions
11Jun By Desk TeamNo Comments
World

2-passenger limit for taxis, private-hire cars during tightened COVID-19 restrictions

SINGAPORE: Taxis and private-hire cars can carry only up to two passengers during this period of tightened COVID-19 restrictions, the Land Transport Authority (LTA) said on Sunday (May 16). The restriction does not apply to passengers from the same household. For example, a parent can travel with his or her two children if they live together, LTA said. Singapore on Sunday entered what authorities called Phase 2 (Heightened Alert), after a spike in COVID-19 cases in the community. The tightened restrictions will last until Jun 13. In a press release on Sunday, the LTA said it is implementing some measures to minimise interaction and the risk of COVID-19 transmission during commuting. All commercial car-pooling services such as GrabHitch and RydePool, where drivers are paid for f...
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Global equities nearly grasp all-time record, dollar drops after US jobs data
11Jun By Desk TeamNo Comments
Market, World

Global equities nearly grasp all-time record, dollar drops after US jobs data

Global stocks rallied on Friday and oil and gold marched higher while the dollar fell after a solid but not blow-out U.S. monthly jobs report made investors less worried that the U.S. Federal Reserve would rein in monetary stimulus soon. WASHINGTON: Global stocks rallied on Friday and closed near all-time highs, and oil and gold rose while the dollar dropped after U.S. jobs data was strong but not as robust as expected, easing investor worries that the Federal Reserve would soon rein in monetary stimulus. U.S. employers increased hiring in May and raised wages. But the nonfarm payrolls increase of 559,000 jobs landed below the 650,000 forecast of economists polled by Reuters. The pan-European STOXX 600 index rose 0.39per cent after hitting a record high this week. MSCI's all-country...
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2 foreign climbers die on Everest
11Jun By Desk TeamNo Comments
World

2 foreign climbers die on Everest

KATHMANDU: Two climbers from the United States and Switzerland have died on Mount Everest, the first fatalities of this year's season, expedition organisers in Nepal said on Thursday (May 13). On average, about five climbers die every year on the world's highest peak. But in recent seasons, Everest has seen a surge in the number of climbers, leading to overcrowding that has been blamed for multiple deaths. "Two climbers passed away on Wednesday," Mingma Sherpa of Seven Summit Treks told AFP. Swiss climber Abdul Waraich, 40, died near the summit after reaching the top and suffering exhaustion, said Chhang Dawa Sherpa from the same organisation. "We sent two additional Sherpas with oxygen and foods, unfortunately Sherpas couldn't save him," he said on Instagram. American Puwei ...
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Israel’s foreign policies won’t change much even as a new coalition looks set to take power, ambassador says
10Jun By Desk TeamNo Comments
Asia, USA, World

Israel’s foreign policies won’t change much even as a new coalition looks set to take power, ambassador says

A new coalition may soon take power in Israel, but that doesn't signal a change in the country's foreign policies, according to Israel's ambassador to Singapore. "As far as foreign policy is concerned, we're about to see a continuation of previous policies of the government," Sagi Karni told CNBC's "Capital Connection" on Wednesday. That means Israel will still want to maintain and expand the Abraham Accords, engage with the rest of the world, and "see a change" in Gaza, he said. Israel's parliament, the Knesset, will be voting on a new government on Sunday. If successful, the coalition led by opposition party leader Yair Lapid will feature tech millionaire Naftali Bennett as prime minister, replacing Benjamin Netanyahu, Israel's longest-serving head of government. The coalition includes a...
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What’s the best thing to do with your child tax credit?
10Jun By Desk TeamNo Comments
World

What’s the best thing to do with your child tax credit?

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners. In just a few short months, qualifying families will start receiving their monthly payments from the U.S. government through the 2021 Child Tax Credit. The monthly payments — $250 per child age 6 to 17 and $300 per child under 6 — are coming in advance of next year's tax season thanks to the American Rescue Plan Act. This influx of up to $3,000 total (or $3,600 for families with young children) in extra cash per child will make life easier for lots of American families this year. An additional $250 or $300 per month might be enough to make a noticeable dent in your fa...
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14 community cases, 1 dormitory resident among 24 new COVID-19 infections in Singapore
10Jun By Desk TeamNo Comments
World

14 community cases, 1 dormitory resident among 24 new COVID-19 infections in Singapore

SINGAPORE: Singapore reported 14 new COVID-19 community cases and one new infection in a migrant worker dormitory on Thursday (May 27). Twelve of these locally transmitted infections were linked to previous cases, all of whom had been placed in quarantine. The remaining three cases are currently unlinked, said the Ministry of Health (MOH). There were also nine imported cases. They were placed on stay-home notice or isolated upon arrival in Singapore. Seven are returning Singaporeans or permanent residents. In total, 24 new COVID-19 cases were reported in Singapore on Thursday. UNLINKED COMMUNITY CASES Two of the unlinked cases are community infections. The first unlinked community case is a 43-year-old Singaporean woman who works at GovTech. She was last at work on May ...
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Israel makes Tel Aviv exchange SPAC-ready, with focus on tech deals
10Jun By Desk TeamNo Comments
Market, World

Israel makes Tel Aviv exchange SPAC-ready, with focus on tech deals

Israel has established rules to open up the Tel Aviv stock market for special purpose acquisition companies (SPACs), aiming to join in a boom in these investment vehicles which have raised billions of dollars in the United States. TEL AVIV: Israel has established rules to open up the Tel Aviv stock market for special purpose acquisition companies (SPACs), aiming to join in a boom in these investment vehicles which have raised billions of dollars in the United States. A SPAC is a shell company that raises money via an initial public offering, which is then used to buy a private firm. The company can then become publicly listed via the merger, providing an alternative to a traditional IPO. Global SPAC volumes hit US$286 billion in the first four months of this year, versus US$163 bill...
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Make-up’s ugly secret: The plight of India’s poor miners behind the beauty industry
10Jun By Desk TeamNo Comments
USA, World

Make-up’s ugly secret: The plight of India’s poor miners behind the beauty industry

Mica is the mineral that gives a sparkle to an array of products, from eye shadow to lip gloss. But what consumers do not see is a deadly trade involving even children. The programme Undercover Asia investigates. JHARKHAND, INDIA: It sounds like an innocuous ingredient, a word among many hidden on the back of the packaging of your eye shadow palette. Mica: A mineral that can be ground down to make sparkly powders, and found in everything from eye shadow to lip gloss to foundation. Cosmetic companies value mica for its properties: Refractive, superfine and naturally occurring in different colours. It can be found all over the world, including India, which is known for having some of the world’s largest and finest deposits. But in India, there is a heavy price to pay for it, the progr...
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