World

JB-Singapore RTS Link project signing ceremony to be held on Jul 30, says Malaysian transport minister
31Jul By Desk TeamNo Comments
Singapore, World

JB-Singapore RTS Link project signing ceremony to be held on Jul 30, says Malaysian transport minister

SINGAPORE: Malaysian Transport Minister Wee Ka Siong has confirmed that a signing ceremony will be held on Jul 30 to finalise the agreements between Singapore and Malaysia to proceed with the Rapid Transit System (RTS) Link project. In a parliamentary oral reply on Tuesday (Jul 21), Dr Wee said that the prime ministers for both countries will witness the ceremony, which will be held at the Johor-Singapore Causeway. He said that both countries have completed negotiations for the Johor Bahru-Singapore RTS Link project and are prepared to sign three agreements during the ceremony - a bilateral agreement, a concession agreement and an agreement to form a joint venture company to operate the rail line. He was responding to a question by Johor Bahru Member of Parliament Akmal Nasrullah ...
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England scraps quarantine for 50 countries – but not US
31Jul By Desk TeamNo Comments
Singapore, World

England scraps quarantine for 50 countries – but not US

LONDON: Britain will end coronavirus quarantines for people arriving in England from more than 50 countries, including Germany, France, Spain and Italy - but not the United States - the government said on Friday (Jul 3). The move, effective July 10, clears the way for millions of British tourists to take summer holidays without worrying about being quarantined when they return. Those arriving from higher risk countries will still have to self-quarantine for 14 days under a rule which has angered airlines and travel companies. Prime Minister Boris Johnson's government had debated for days how to ease the quarantine rules. Scotland, Wales and Northern Ireland, which set their own health policies within the United Kingdom, have not announced plans to lift the measures. "Today marks the...
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You only have a few days left to make 2019 contributions to your IRA—here’s what you should know
31Jul By Desk TeamNo Comments
World

You only have a few days left to make 2019 contributions to your IRA—here’s what you should know

There's just one week remaining before federal income taxes are due this year on July 15, a three-month extension from the typical Tax Day deadline the IRS granted in light of the coronavirus pandemic. When the IRS pushed back the tax filing deadline to July 15, the agency also pushed back the cut off to put money into individual retirement accounts. While you can make contributions to your IRA year-round, any money added to these accounts counts toward a specific tax year. That's because these accounts are tax advantaged, which means that, depending on the type of account, you could receive a break on your tax bill by contributing. In this case, you can still make 2019 contributions of up to $6,000 ($7,000 if you're 50 or older) until July 15, 2020. This is an important opportunity any re...
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New York Fed’s Williams says full recovery will likely take years
31Jul By Desk TeamNo Comments
World

New York Fed’s Williams says full recovery will likely take years

NEW YORK: The US economy is showing signs of a turnaround as businesses reopen, but the pace of the recovery is being slowed by large-scale outbreaks in some states and it could be years before the economy is back at full strength, New York Federal Reserve Bank President John Williams said on Tuesday (Jun 30). Increases in consumer spending and in building permits suggest that economic activity is improving in some areas and that the "low point" of the downturn may have passed, Williams said. Manufacturing activity and small business revenues in hard-hit areas such as New York are picking up, he said. "People have been getting back to work and the unemployment rate has started to edge down," Williams said according to remarks prepared for a virtual event focused on central banking du...
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5G is accelerating factory automation that could add trillions to the global economy
30Jul By Desk TeamNo Comments
USA, World

5G is accelerating factory automation that could add trillions to the global economy

Stanley Black & Decker's "Manufactory" in Hartford, Connecticut, is the epicenter for its "smart factory" and workforce upskilling initiatives. Stanley Black & Decker Imagine a manufacturing plant in which all the production equipment is continually changing in response to market needs. Robots churning out widgets, for instance, would reconfigure themselves based on data coming in from all points of the widget supply chain, as well as sensors monitoring the factory itself. The result is a smart factory that's more agile and autonomous than previous generations of automation. Also known as Industry 4.0, the smart factory runs on data and artificial intelligence, but connectivity forms the backbone of operations. The new fifth generation of mobile networks (5G) is a catalyst for this new in...
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US home contracts post record jump, factory activity improves in Texas
30Jul By Desk TeamNo Comments
World

US home contracts post record jump, factory activity improves in Texas

Contracts to buy U.S. previously owned homes rebounded by the most on record in May, suggesting the housing market was starting to turn around after being hammered by the COVID-19 pandemic along with the rest of the economy. WASHINGTON: Contracts to buy U.S. previously owned homes rebounded by the most on record in May, suggesting the housing market was starting to turn around after being hammered by the COVID-19 pandemic along with the rest of the economy. Other data on Monday showed an improvement in manufacturing activity in Texas in June after three months of record or near-record declines in output. But surging infections of the respiratory illness in many regions, including the densely populated Texas, Florida and California, pose a risk to the nascent recovery. The economy fell in...
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Two Chinese hackers charged by US for targeting computer systems of companies developing COVID-19 vaccines
30Jul mmBy Mike TrudellNo Comments
World

Two Chinese hackers charged by US for targeting computer systems of companies developing COVID-19 vaccines

Two Chinese hackers working with the Ministry of State Security have been charged with global computer intrusion campaign targeting intellectual property and confidential business information, including COVID-19 research, the US Department of Justice said.The indictment alleged that the two former computer engineers, identified as Li Xiaoyu, 34, and Dong Jiazhi, 33, conducted a hacking campaign lasting more than ten years, targeting companies in countries with high technology industries, including the United States, Australia, Belgium, Germany, Japan, Lithuania, the Netherlands, Spain, South Korea, Sweden, and the United Kingdom.It was also alleged that the two had hacked companies engaged in high-tech manufacturing, pharmaceuticals, and gaming software development, and with targeting diss...
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Don’t simply count on a second round of stimulus checks—here’s what to do instead
30Jul By Desk TeamNo Comments
World

Don’t simply count on a second round of stimulus checks—here’s what to do instead

With the economy officially in a recession, millions of Americans still receiving unemployment benefits and some states pausing their reopening plans amid spikes in the number of coronavirus cases, it's little wonder that some lawmakers are calling for a second round of stimulus checks. While it's been primarily Democrats pushing the idea — the stalled HEROES Act calls for distributing up to a maximum of $6,000 per household — President Trump recently voiced his support for another round of funding. "We will be doing another stimulus package. It'll be very good. It'll be very generous," Trump said in an interview last week. Yet even if a second round of stimulus checks is approved, it likely won't be passed until the end of July. Plus, for some Americans, the amount won't cover all of thei...
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GE2020: New Yio Chu Kang SMC sees straight fight between PAP and PSP
30Jul By Desk TeamNo Comments
China, Singapore, World

GE2020: New Yio Chu Kang SMC sees straight fight between PAP and PSP

SINGAPORE: The new Yio Chu Kang SMC will see a straight fight between the People’s Action Party (PAP) and the Progress Singapore Party (PSP). After nomination papers were filed at Deyi Secondary School on Tuesday (Jun 30), it was confirmed that PAP’s Yip Hon Weng and PSP’s Kayla Low will challenge the seat. Mr Yip, 43, is a new PAP candidate. The former public servant was previously group chief of the Silver Generation Office at the Agency for Integrated Care. Ms Low is a chartered accountant and former prisons officer. The 43-year-old volunteers with lower-income families and the elderly. In his speech after the candidates were confirmed, Mr Yip pledged to do his very best to serve Yio Chu Kang residents "I will listen to your ... needs and concerns," said Mr Yip. ...
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Hong Kong’s new tech index up 3.5% on the second day of trade
29Jul By Desk TeamNo Comments
China, World

Hong Kong’s new tech index up 3.5% on the second day of trade

From left, the flags of the Hong Kong Stock Exchange, China and Hong Kong are seen flapping in the wind on May 6, 2019. Hong Kong's new tech index rose on its second day of trading as experts said its diverse list of constituents will be attractive for traders looking to invest across the sector. The Hang Seng Tech Index rose 3.51%, beating the broader Hang Seng index which traded up 0.69%. "It's a really good, I think, list of constituents across multiple slices of the tech sector," said Sam Le Cornu, CEO and co-founder of Stonehorn Global Partners. The tech index was launched on Monday and tracks the 30 largest technology companies listed in Hong Kong that pass the screening criteria. Tech shares are some of the top traded stocks in Hong Kong. The new index trades at about 45 times ...
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