World

‘The sight of stars makes me dream’: Paralympics remain on the minds of Singapore’s athletes despite COVID-19 uncertainty
21Aug By Desk TeamNo Comments
Singapore, World

‘The sight of stars makes me dream’: Paralympics remain on the minds of Singapore’s athletes despite COVID-19 uncertainty

SINGAPORE: A particular quote by painter Vincent Van Gogh resonated with cyclist Steve Tee during the uncertainty of what he calls the "COVID-19 period". "He said something like: 'For my part I know nothing with any certainty, but the sight of the stars makes me dream.' And I realised that our (star) is the Paralympics, so I cannot lose sight of it," Tee told CNA. "We are still continuing to work on it and at the same time, we keep our fingers crossed, hope for the best and prepare for the worst." Tee, who will represent Singapore at next year's coronavirus-postponed Paralympics, was one of the athletes recognised for their achievements and contributions at the Singapore Disability Sports Awards on Friday (Aug 7). He was nominated for the Sportsman of the Year award, which was won ...
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Covid-19 has put older workers’ retirement at risk. Here’s how stimulus legislation would help
20Aug By Desk TeamNo Comments
World

Covid-19 has put older workers’ retirement at risk. Here’s how stimulus legislation would help

Congress is at an impasse when it comes to how to help millions of Americans recover from the economic fallout of the coronavirus pandemic. Now, a report from Democrats on the Joint Economic Committee of Congress shows that one group — workers age 55 and older — are among those most at risk for financial hardship. As millions of workers have lost their jobs, the unemployment rate for those over 55 climbed to the highest rate on record, according to the report. In April, the gap between the unemployment rate for workers 65 and up and those ages 25 to 54 grew by three percentage points, the biggest ever recorded. Unemployment for those 65 and up was 15.6%, while for prime age workers ages 25 to 54 it was 12.6%. Older workers most at risk for job insecurity include women and Blacks, accord...
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German-Chinese coronavirus vaccine trial begins in China
20Aug By Desk TeamNo Comments
China, World

German-Chinese coronavirus vaccine trial begins in China

BERLIN: Clinical trials on humans have begun in China for a potential coronavirus vaccine developed by German pharmaceutical group BioNTech with Chinese company Fosun Pharma, the companies said Wednesday (Aug 5). Seventy-two participants have already received their first dose following approval for the phase 1 trial from Chinese regulatory authorities, BioNTech and Fosun Pharma said in a statement. The vaccine candidate, known as BNT162b1, is one of four based on BioNTech's proprietary mRNA technology. Another, BNT162b2, is being evaluated in a global phase 3 trial conducted by BioNTech and US giant Pfizer which started on Jul 27. The phase 1 trial in China involves 144 participants who will receive two doses 21 days apart. Those aged 18-55 will be the first to take part, followed...
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Global stocks on defensive as US-China tensions spook investors
20Aug By Desk TeamNo Comments
China, World

Global stocks on defensive as US-China tensions spook investors

related media assets (image or videos) available. Click to see the gallery. 2 related media assets (image or videos) available. Click to see the gallery. U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies. TOKYO: U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies. S&P500 futures dropped 0.2per cent while Nasdaq futures lost 0.3per cent. Japan's Nikkei fell 1.3per cent, re-opening after a long weekend. MSCI's b...
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Jordan to reopen to ‘low risk’ countries in August
20Aug By Desk TeamNo Comments
World

Jordan to reopen to ‘low risk’ countries in August

AMMAN: Jordan will reopen its airports to commercial flights next month after a near five-month shutdown imposed to stem the spread of the coronavirus, an official said Sunday (Jul 26). The move comes as the country is trying to revive its economy which has been badly hit since the outbreak of the pandemic. Civil aviation commission chief Haitham Misto told state television that flights from 22 "low risk" countries will be allowed from Aug 5. The countries listed by the health ministry include Austria, Canada, China, Denmark, Georgia, Germany, Greenland, Iceland, Ireland, Italy, Malaysia, New Zealand, Switzerland and Thailand, he said. Travellers from those countries will not need to isolate for 14 days when they reach Jordan but must be tested for the virus before arriving, Misto ...
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Wall Street’s ‘fear gauge’ will signal whether a dotcom bubble repeat lies ahead, analyst says
19Aug By Desk TeamNo Comments
World

Wall Street’s ‘fear gauge’ will signal whether a dotcom bubble repeat lies ahead, analyst says

The market's seemingly narrow leadership this year has raised concern about a potential market downfall similar to the one experienced around the turn of the millennium. The S&P 500 has stormed back to positive territory for the year this week after being down more than 30% for 2020 at one point. A big chunk of that rally has been driven by gains in six of the major tech-related names — Facebook, Amazon, Apple, Netflix, Google-parent Alphabet and Microsoft.
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ComfortDelGro sinks into the red with S$6 million loss amid ‘massive’ destruction caused by COVID-19
19Aug By Desk TeamNo Comments
Singapore, World

ComfortDelGro sinks into the red with S$6 million loss amid ‘massive’ destruction caused by COVID-19

SINGAPORE: Transport giant ComfortDelGro posted a net loss of S$6 million in the first half of the year amid "massive" destruction brought on by the COVID-19 outbreak. With governments around the world imposing lockdowns and other restrictions to stem the spead of the outbreak, demand for taxi and public transport plunged, contributing to a 20.8 per cent fall in first-half revenue, said ComfortDelGro in a stock exchange filing. Group revenue came in at S$1.53 billion between January and June this year, compared with S$1.93 billion in the same period last year. "The first six months of 2020 have been nothing short of catastrophic," said ComfortDelGro chairman Lim Jit Poh. "If not for governmental reliefs, that loss would have been S$66.1 million," he said. In comparison, the group ...
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Taiwanese firms shift focus to India amid fallout with China
19Aug mmBy Mike TrudellNo Comments
China, Market, World

Taiwanese firms shift focus to India amid fallout with China

Drawn by India’s giant market, inexpensive skilled workforce and tax breaks, Taiwanese firms are apparently pivoting to India and leaving China behind.According to media reports, firms from Taiwan are seeking to reduce their reliance on mainland China. A Taiwanese company Pegatron, an assembly partner for the US tech giant Apple, earlier in July announced that it was applying for permits to set up its first plant in India.The firm, which reported revenue of USD 44.8 billion in 2019, normally offshores its orders to its factories in mainland China. But analysts and the Taiwanese government said the firm’s swing into India is only the latest example of a trend that has been gaining pace over the past four years as ties between India and Taiwan strengthened.According to the Taiwan Bureau of F...
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‘We are a battleground now’: In Southeast Asia, U.S.-China tensions flare on social media
19Aug By Desk TeamNo Comments
Asia, China, Singapore, USA, World

‘We are a battleground now’: In Southeast Asia, U.S.-China tensions flare on social media

Tensions between the United States and China over the South China Sea have erupted into a war of words on social media, in what analysts see as a change in U.S. strategy amid a burgeoning superpower rivalry in Southeast Asia. After Washington last week hardened its position by explicitly rejecting Chinese maritime claims in the South China Sea, U.S. embassies in the region produced an unprecedented flurry of op-eds and statements criticizing Beijing's actions. China's response was fiery, accusing Washington of "defaming China with untrue words so as to mislead the public" in the region. "We are a battleground now," Renato de Castro, an analyst with the Albert Del Rosario Institute for Strategic and International Relations in the Philippines, told Reuters by phone. "It will be a long gam...
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New company by Temasek, Bayer to develop vegetable seed varieties for vertical farming
19Aug By Desk TeamNo Comments
Singapore, USA, World

New company by Temasek, Bayer to develop vegetable seed varieties for vertical farming

SINGAPORE: Singapore state investment firm Temasek has joined hands with the impact investment arm of German pharmaceutical and chemical maker Bayer to form a company that aims to develop new varieties of vegetable seeds better suited for indoor vertical farms. The new company, Unfold, will be headquartered in Davis, California, and plans to have commercial and research and development (R&D) operations in both the United States and Singapore. Unfold has raised US$30 million from Temasek and Bayer in its initial funding round, which will go into getting its R&D capabilities in place, said CEO John Purcell on Wednesday (Aug 12). “Initially, Bayer and Temasek have equal ownership of Unfold, but this may change over time. Unfold has the flexibility to seek investment from other compan...
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