- A + A (May 19): China’s top diplomat again warned the US over its increased support for Taiwan, showing the island democracy remains a major sticking point between the world’s biggest economies as Beijing sent more military aircraft toward the island. “If the US side insists on playing the Taiwan card and goes further and further down the wrong road, it will certainly lead to a dangerous situation,” Yang Jiechi, Beijing’s top diplomat, said in a phone call with National Security Advisor Jake Sullivan. Yang said Washington should “have a clear understanding of the situation,” according to a statement posted online by his nation’s Foreign Ministry. “China will certainly take firm action to safeguard its sovereignty and security interests,” he added. The White House issued a short statement on the Wednesday call, saying the pair “focused on regional security issues and nonproliferation.” They also discussed Russia’s war against Ukraine and specific issues in … [Read more...] about China warns US a ‘dangerous situation’ forming over Taiwan
Gain
A US$60 bil crypto collapse reveals a new kind of bank run
- A + A NEW YORK (May 19): Last fall, on the advice of a friend, Odosa Iyamuosa invested his life savings of US$4,000 in a cryptocurrency called Luna. The 28-year-old, who lives in Abuja, Nigeria, researched the coin himself online, and what he found seemed promising. Luna’s price was soaring, thanks to the success of another coin with which it was deeply intertwined, TerraUSD. Some of the crypto industry’s biggest names had already invested, including Galaxy Digital Holdings Ltd, the high-frequency-trading firm Jump Trading, and venture investment arms of the exchanges Coinbase Global Inc and Binance. For Iyamuosa, it seemed like his best hope to get out of Abuja, where he says many jobs pay just US$2 a day, or less. He’d scraped together a little money selling knockoff Nike and Adidas sneakers to local buyers he found on Instagram. He wanted to increase his savings to US$16,000 and enroll in a data-analytics programme at a college in Toronto so he could get a job … [Read more...] about A US$60 bil crypto collapse reveals a new kind of bank run
Grab revenue rises, loss narrows on delivery, ride demand
- A + A (May 19): Grab Holdings Ltd said revenue rose 6% in the first quarter after the ride-hailing and delivery company won back consumers as the pandemic receded in Southeast Asia. Revenue increased to US$228 million after the Singapore-based company added sales from Jaya Grocer, a platform it acquired in January. That was more than the US$139.2 million analysts were expecting, according to data compiled by Bloomberg. Grab’s net loss narrowed to US$435 million, as the company fights to gain profitability following years of heavy spending in pursuit of market share. The company managed to grow paying users 10% to 30.9 million after Southeast Asian countries removed pandemic-era restrictions. Per-user spending climbed 19%, it said. Unlike other Internet companies that are grappling with cooling post-Covid online activity, Grab’s car-hailing and delivery businesses benefit as life returned to normal. The company had struggled since becoming a publicly listed … [Read more...] about Grab revenue rises, loss narrows on delivery, ride demand
Only one chicken factory will be closed, won’t affect supply, says Nanta
Reuters filepix for illustration purpose only - A + A PUTRAJAYA (May 19): The Ministry of Domestic Trade and Consumer Affairs has denied the allegations that a group of poultry industry cartels are planning to close poultry farms on Saturday and Sunday, a move that will affect the supply of chicken. Its Minister, Datuk Seri Alexander Nanta Linggi said he was informed that only one livestock farm company in Melaka would be closed for two days, adding that the closure would not affect chicken supply in the market. “We have received an explanation letter from the company. The explanation given does not describe it as a cartel aiming to gain excessive profits. "Although (it is) a big company, we have ensured that the two-day closure does not affect the supply of chicken in the market," he said during a press conference after launching the logo for subsidised and controlled goods at his ministry here on Thursday (May 19). The media reported that a group of … [Read more...] about Only one chicken factory will be closed, won’t affect supply, says Nanta
A neuroscientist on the shifts in our media use and the effect on our brains
Scanning the news online, a headline catches my attention: “Man, Distracted by Electronic Device, Identified after Falling to Death at Sunset Cliffs.” advertisement advertisement The authorities identified the victim as a 33-year-old Indiana man who was visiting friends in San Diego. Witnesses said he was not watching he was going and was obviously “looking down at the device in his hands.” To be sure, this is an extreme example. But they illustrate how serious the consequences of tech behavior can be. Many of our new media, communications, and information technology habits are resulting not only in more accidents from distractions but also reduced productivity, disrupted relationships, increasing mental and physical health problems, and public safety issues that we need to take seriously and address as a society. In fact, many of the consequences of our new behaviors are so severe that experts are starting to describe them with the language of … [Read more...] about A neuroscientist on the shifts in our media use and the effect on our brains
5 mistakes companies make when they rush to hire
As hiring managers fight to recruit talent, speed can play a factor. You want to secure a candidate before someone else does. Unfortunately, a rush to hire leaves the door open for missteps. If a bad fit is onboarded, it can damage your workplace culture. advertisement advertisement Research from the talent lifecycle management platform Beamery found that 83% of businesses have compromised when it comes to recruitment, due to the current levels of competition for talent in the market. While the competitive market can make hiring more difficult, it’s best to slow down your process, even if you risk losing out on great candidates. Avoid these five mistakes to improve your hiring process and your chances of finding the right talent: 1. Waiting Until You Have a Job Opening One of the big mistakes is reactive hiring, says Jay McDonald, author of Strategic Jaywalking: The Secret Sauce to Life and Leadership Excellence . “To have a world-class team, … [Read more...] about 5 mistakes companies make when they rush to hire
Employers’ bid to hold off minimum wage hike in Western Visayas hit
Western Visayas map BACOLOD CITY — A labor group on Thursday slammed the request of employers to defer the minimum wage hike for workers in Western Visayas. The Partido Manggagawa (PM) also opposed plans of some businesses to seek exemptions from the wage increase. “It is adding insult to injury to workers for the regional wage boards to exempt and defer the wage hike as demanded by employers. The minimum wage increases are not even enough to recover the value lost to inflation for the past three years,” said Rene Magtubo, PM national chairperson. Magtubo said even small businesses can afford to give their workers a pay increase. “’Wag kayong kuripot (Don’t be stingy). Before the pandemic, businesses, both big and small, accumulated revenues and profit without sharing the productivity gains [with] their workers,” he said. “From 2001 to 2016, the economy doubled in size and productivity increased by 50 percent but real wages remained stagnant. The pie became larger but the … [Read more...] about Employers’ bid to hold off minimum wage hike in Western Visayas hit
Ringgit hits RM4.40 to US dollar on global recession concerns
KUALA LUMPUR: The ringgit closed lower today, hitting RM4.40 against the US dollar on global recession concerns, said an analyst. At 6 pm, the local note stood at 4.4030/4060 versus the greenback from Wednesday's close of 4.3960/3975. ALSO READ: Ringgit vs US dollar: What we need to understand SPI Asset Management managing partner Stephen Innes said although the US dollar was not so much in demand due to global economic growth concerns, sentiments for emerging currencies, including the ringgit, remained weak, triggering a wide sell-off. The ringgit hit a record low on March 23, 2020 when it reached RM4.447. "The next move will depend on the economic reopening in China. If China opens up, the ringgit will likely strengthen as export channels will open up and will likely reverse the narrowing trade surplus that fell lower than consensus (estimates),” he told Bernama. ALSO READ: Move by Bank Negara not to peg ringgit seen as pragmatic "Although US yields are falling, … [Read more...] about Ringgit hits RM4.40 to US dollar on global recession concerns
As eMudhra IPO opens tomorrow, here are 10 things to know before subscribing
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × eMudhra , the largest licensed certified authority (CA) in the digital signature certificates market in India, will be launching its initial public offering (IPO) on May 20. Here are 10 key things to know before subscribing to the public issue: 1. IPO Dates The offer will open for subscription on May 20 (Friday) and close on May 24 (Tuesday). 2. Price Band Close The price band for the offer has been fixed at Rs 243 - 256 per share of face value Rs 5 each. 3. Offer Details The IPO, sized at Rs 413 crore, comprises fresh shares of Rs 161 crore and an offer for sale worth Rs 252 crore by shareholders and promoters. After the issue, the promoter shareholding will decline 18.16 percent to 61.03 percent. Of the total offer size, 50 percent will be reserved for … [Read more...] about As eMudhra IPO opens tomorrow, here are 10 things to know before subscribing
10 Remarkable Habits to Instantly Spark a Relationship with Anyone
Success in business--and in life--is all about building relationships and trust. When you're in business, the more quickly you can build a positive relationship with potential customers, and with the people who work with and for you, the more successful you will be. In her book Nothing But the Truth, body language expert Maryann Karinch reveals what to keep in mind most when building the kind of rapport and trust that sparks relationships. Says Karinch, "Everyone has needs, doubts, and insecurities. That is the first concept you need to embrace in honing your skills of rapport-building. The process of establishing a connection to another person to gain trust--and truth--centers on showing respect as you address his or her needs, doubts, and insecurities." Karinch goes on to describe 10 powerful rapport-building habits taught by her colleague Lena Sisco. These 10 habits include: 1. Smile with your eyes A smile is a powerful thing. It builds trust with … [Read more...] about 10 Remarkable Habits to Instantly Spark a Relationship with Anyone