World

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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GE2020: In Yio Chu Kang broadcast, PAP focuses on elderly support; PSP calls for a ‘compassionate government’
29Jul By Desk TeamNo Comments
China, Singapore, World

GE2020: In Yio Chu Kang broadcast, PAP focuses on elderly support; PSP calls for a ‘compassionate government’

SINGAPORE: Candidates from the People’s Action Party (PAP) and the Progress Singapore Party (PSP) delivered their constituency political broadcasts for the new Yio Chu Kang SMC on Wednesday (Jul 8). Mr Yip Hon Weng from the PAP spoke first in English and Mandarin. This was followed by PSP’s Kayla Low, who spoke in Mandarin and English. YIP HON WENG: FIRST-HAND EXPERIENCE IN UNDERSTANDING CONCERNS OF ELDERLY Mr Yip, a new face in the PAP, said that he wants to contribute in caring for seniors in Yio Chu Kang. Running the Silver Generation Office for “many years” gave him “first-hand experience (in) understanding the concerns and aspirations of the Pioneer and Merdeka generation seniors”, he said. Mr Yip, 43, said while many elderly people can access the help that they need, others ...
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Canada to review $6.8 mn worth security equipment purchased from China
29Jul mmBy Mike TrudellNo Comments
China, World

Canada to review $6.8 mn worth security equipment purchased from China

In yet another fallout for China, Canada has sought to review $6.8 million worth of security equipment purchased from a Beijing-based company that has been found to have connections with the highest levels of the Chinese Communist Party.According to media reports, Canada posted details that Beijing-based Nuctech, a company owned by the Chinese government and founded by the son of former General Secretary of the Chinese Communist Party, Hu Jintao, has been awarded a deal by Global Affairs Canada (GAC) to install X-ray scanning equipment and software systems to provide security for 170 Canadian embassies, consulates and high commissions worldwide.Foreign Minister Francois-Phillipe Champagne has promised to review "any possible issue relative to security or safety ... all appropriate actions ...
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Hong Kong’s competitive edge blunted by US-China storm
29Jul By Desk TeamNo Comments
China, Market, World

Hong Kong’s competitive edge blunted by US-China storm

HONG KONG: Beijing's tough new security law and President Donald Trump's order to rescind special trading privileges have blunted Hong Kong's competitive edge and risk turning the finance hub into just another Chinese city, analysts warn. Once lauded as an oasis of predictability in Asia, Hong Kong has been plunged into crisis over the past year, threatening its status as a reliable world-class business centre. As 2019 came to a close, the city was already deep in recession because of spiralling US-China trade tensions and months of huge, often violent protests. And the jolts to business sentiment have not let up. Late last month Beijing blanketed the city in a game-changing anti-subversion law aimed at ending protests against its increasingly authoritarian rule. Then on Tuesd...
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Individual investors are a ‘big part’ of the market over last few months, NYSE president says
29Jul By Desk TeamNo Comments
Market, World

Individual investors are a ‘big part’ of the market over last few months, NYSE president says

NYSE President Stacey Cunningham said Friday that individual investors have participated in a big way during the market's record rally that's seen the S&P 500 jump 48% from its March 23 low. "The retail investor has been a big part of the market over the past several months for a variety of reasons," Cunningham said on CNBC's "Squawk Box." She pointed to several reasons for the spike, including zero-commission trading platforms, as well as consumers having more time on their hands amid stay-at-home orders during the coronavirus pandemic. "They're engaging in this tremendous rebound from the market," she said. Her comments come after e-brokers TD Ameritrade and Interactive Brokers reported record retail trading volumes in the second quarter. Some, including Social Capital's Chamath Palih...
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POFMA Office instructed to issue correction directions to Facebook pages of State News Singapore, Alex Tan
29Jul By Desk TeamNo Comments
Singapore, World

POFMA Office instructed to issue correction directions to Facebook pages of State News Singapore, Alex Tan

SINGAPORE: The alternate authority for the Minister for Foreign Affairs has instructed the Protection from Online Falsehoods and Manipulation Act (POFMA) Office to issue a correction direction each to the Facebook pages belonging to State News Singapore and Mr Alex Tan. The alternate authority, who in this case is the Ministry of Foreign Affairs' Permanent Secretary Chee Wee Kiong, also issued Facebook a targeted correction direction, the Office said in a media release on Monday (Jun 29). This is the first instance of an alternate authority issuing correction directions under POFMA. The Act states that ministers may appoint public officers to issue orders under POFMA during an election period, which is defined as the period between the day a writ of election is issued and the close ...
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Tennis: Djokovic donates US$45,000 to Serbian town hit hard by coronavirus
29Jul By Desk TeamNo Comments
USA, World

Tennis: Djokovic donates US$45,000 to Serbian town hit hard by coronavirus

BELGRE: Tennis world number one Novak Djokovic, who last week tested positive for coronavirus, donated more than 40,000 euros (US$45,000) to a Serbian town badly affected by the pandemic, local media reported on Wednesday (Jul 1). The 33-year-old Djokovic donated the money to Novi Pazar, in Serbia's southwest, to help it fight a growing outbreak of the disease, the SportKlub TV sports channel reported. The town declared a state of emergency in late June due to the spread of the respiratory disease. After restricting the first outbreak of COVID-19 in early May, Serbia is now reporting a fresh surge, logging more than 200 cases daily recently compared to around 50 a month ago. The Balkan nation was recently in the spotlight for allowing Djokovic to host a regional tournament that sta...
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Iran says misaligned radar led to Ukrainian jet downing
28Jul By Desk TeamNo Comments
World

Iran says misaligned radar led to Ukrainian jet downing

TEHRAN: Iran said that the misalignment of an air defence unit's radar system was the key "human error" that led to the accidental downing of a Ukrainian passenger plane in January. "A failure occurred due to a human error in following the procedure" for aligning the radar, causing a "107-degree error" in the system, the Iranian Civil Aviation Organisation (CAO) said in a report late Saturday (Jul 11). This error "initiated a hazard chain" that saw further errors committed in the minutes before the plane was shot down, said the CAO document, presented as a "factual report" and not as the final report on the accident investigation. Flight 752, a Ukraine International Airlines jetliner, was struck by two missiles and crashed shortly after taking off from Tehran's main airport on Jan 8...
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Always rocky, China-U.S. relations appear at a turning point
28Jul By Desk TeamNo Comments
World

Always rocky, China-U.S. relations appear at a turning point

Four decades after the U.S. established diplomatic ties with communist China, the relationship between the two may have reached a turning point. Tensions have reached new heights on what has always been a rocky road, as the ambitions of a rising superpower increasingly clash with those of the established one. China ordered the closing of the U.S. Consulate in the southwestern city of Chengdu on Friday, in rapid retaliation for the closing of its consulate in Houston. Two weeks ago, Chinese Foreign Minister Wang Yi asked aloud if relations could stay on track. On Thursday, U.S. Secretary of State Mike Pompeo delivered an answer: The time has come to change course. "The old paradigm of blind engagement with China simply won’t get it done," he said in a speech at the Richard Nixon Presiden...
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