- A + A BEIJING (May 17): China's general fiscal revenue plunged 41% in April as the government gave money back to taxpayers to help businesses weather the impact of Covid-19 curbs that have weighed on the economy. Government income from taxes and fees totalled 1.23 trillion yuan (US$182 billion) in April, according to a Bloomberg calculation using official data, which was released on Tuesday but did not break out the monthly figure from the year-to-date total. Income for the first four months of the year was 7.43 trillion yuan, down 4.8% from the same period last year, the Ministry of Finance said in a statement. Revenue for this period would have increased 5% from a year earlier had it not been for the tax rebates, the ministry said. In early March the government said it would provide tax relief this year worth about 2.5 trillion yuan, including 1.5 trillion yuan in rebates. That amount — more than double that of 2021 — was announced as the government sought … [Read more...] about China’s revenue slumps 41% on tax cuts to counter Covid-19 pains
Im 17 do i have to be in education
Teachers are our guiding light, says PM
KUALA LUMPUR: Teachers are like candles that illuminate people’s lives for a lifetime despite challenges, says Prime Minister Datuk Seri Ismail Sabri Yaakob. He hoped teachers would continue to serve with dedication and uphold the people’s trust in educating children of the “Malaysian Family”. In conjunction with Teachers Day yesterday, he said May 16 was a meaningful day for educators; for their services and sacrifices in educating the nation. “Happy Teachers Day to all educators who never get tired of being a beacon for the Malaysian Family,” he said in a post on his Facebook page yesterday, Bernama reported. Ismail Sabri said this year’s Teachers Day celebration, themed “Guru Tunjang Sekolah Sejahtera”, coincided with their commitment to always give their best in producing the country’s future generation. The launch of the national-level 51st Teachers’ Day Celebration 2022 was held at Universiti Malaysia Kelantan. … [Read more...] about Teachers are our guiding light, says PM
Musk, Bezos & Gates Technology Billionaire Trolling & Strolling. Please Just Get Back To Work.
Share to Twitter Share to Linkedin Technology billionaires need to stay in the technology game. We need their help now more than ever. They need to stop trolling and strolling around and get back to work. Gates is on the right path. Others should follow. Technology-enabled solutions can change the world. Help wanted. Musk Trolling Musk is buying Twitter. Probably. Maybe. Sort of. If you listen to him, it’s on hold on Sunday – but not on Tuesday – until Friday. By the time you read this, he may have changed his mind and launched billions toward another target. Then there’s the plan: algorithm transparency, free speech, bot controls, Trump freedom, the protected public square, the 1 st amendment, privatization, feature improvement, % of fake users – you name it – all from a TEO (Twitter Executive Officer). Is all this “good” for Twitter, the technology industry, social media – anyone? Bezos Trolling Meanwhile back at the Amazon Ranch, … [Read more...] about Musk, Bezos & Gates Technology Billionaire Trolling & Strolling. Please Just Get Back To Work.
Creador founder and spouse pledge RM50m donation to UTAR
reador founder and chief executive officer (CEO) Brahmal Vasudevan - A + A KUALA LUMPUR (May 17): Creador founder and chief executive officer (CEO) Brahmal Vasudevan and his spouse have pledged to donate RM50 million to the Universiti Tunku Abdul Rahman (UTAR) Education Fund on Tuesday (May 17). In a statement Tuesday, UTAR said the funds are to be utilised for the construction development of an RM330 million not-for-profit teaching hospital at the UTAR Kampar campus in Perak. The university noted that Brahmal and his spouse Shanthi Kandiah, who is the founder of law firm SK Chambers, made the pledge via their trust Alaka Holdings Ltd. “Shanthi and I believe that everyone should have access to affordable, good quality medical care, and we are pleased to make this contribution to UTAR to help make this vision a reality,” Brahmal said in making the pledge. The Creador founder added that the hospital will provide a vital service to the people of Kampar and its … [Read more...] about Creador founder and spouse pledge RM50m donation to UTAR
Biden Administration Launches Reentry Program for Formerly Incarcerated People
As part of an overall effort to deal with inequities in the justice system, the White House announced, on April 26, 2022, a series of initiatives to support the reentry of formerly incarcerated persons into the workforce. At the same time came news that President Biden had pardoned three individuals and shortened the sentences of 75 others. These actions were all taken during Second Chance Month, an annual event seeking to "unlock opportunities for the tens of millions of Americans with a criminal record who have paid their debt to society." The initiatives, under the banner "Incarceration to Employment," were launched in order to "break the cycle of crime, and allow law enforcement to focus their time and resources on the most pressing threats to public safety," according to a statement from the White House. Key Takeaways The White House has announced a series of initiatives to help formerly incarcerated persons reenter the workforce. The $145 million, first-ever … [Read more...] about Biden Administration Launches Reentry Program for Formerly Incarcerated People
PetChem buys Swedish specialty chemicals group Perstorp for €1.5b
- A + A KUALA LUMPUR (May 17): Petronas Chemicals Group Bhd (PetChem) is acquiring the entire equity interest in leading specialty chemicals group Perstorp Holding AB from Financière Forêt SARL for a base purchase of €1.538 billion (approximately RM7.018 billion) cash. The acquisition marks the creation of a significant specialty chemicals portfolio, while enhancing its overall earnings, said PetChem, which together with its wholly-owned unit Petronas Chemicals International BV (PCIBV), had entered into a conditional securities purchase agreement with the seller for the proposed acquisition. The Perstorp group currently derives more than 80% of its revenue from the 18 preferred chemical segments identified by PetChem, including surfactants, specialty polymers, specialty films, plastic additives, coatings, preservatives and biocides, and pre/pro biotics. Perstorp has also developed a number of solutions such as the game-changing production of sustainable methanol … [Read more...] about PetChem buys Swedish specialty chemicals group Perstorp for €1.5b
China stocks close up as Shanghai’s Covid-19 situation improves, tech giants soar
- A + A SHANGHAI (May 17): Chinese stocks ended higher on Tuesday (May 17) as Shanghai achieved a key Covid-19-related milestone required to ease restrictions, while tech giants and Hong Kong shares logged the biggest jump in six weeks following reports about a meeting by a top political consultative body to promote the digital economy. Both Internet firms listed in Hong Kong and the Hang Seng benchmark surged the most since April 29, when authorities vowed at the top-level Politburo meeting to step up policy support to stabilise the economy and financial markets. The blue-chip CSI 300 Index ended 1.3% higher at 4,005.89, while the Shanghai Composite Index gained 0.7% to 3,093.70 points. The Hang Seng Index rose 3.3% to 20,602.52, while the China Enterprises Index gained 3.7% to 7,076.80 points. Shanghai reported a long-awaited milestone of three straight days with no new Covid-19 cases outside quarantine zones — the "zero Covid" status. A nationwide caseload … [Read more...] about China stocks close up as Shanghai’s Covid-19 situation improves, tech giants soar
Sea quarterly loss widens after consumers cool online spending
(Photo credit: Sea Ltd) - A + A (May 17): Singapore’s Sea Ltd posted a wider quarterly loss as its revenue growth slowed, underscoring how online gaming and shopping are retreating from pandemic-era heights. Its net loss in the first three months widened to US$579.8 million from US$422.7 million a year earlier, according to a statement on Tuesday. Total revenue climbed 64% to US$2.9 billion, the slowest pace of growth in more than four years. Sea revised its full-year outlook for e-commerce sales, its main source of revenue, to US$8.5 billion to US$9.1 billion from its previous guidance of US$8.9 billion to US$9.1 billion. The company said in March that it expects its gaming arm Garena to post US$2.9 billion to US$3.1 billion in bookings in 2022, set to be its first decline ever. The results showcase how consumers emerging from prolonged lockdowns are cutting back on online entertainment and purchases, especially with the war in Ukraine and rising interest … [Read more...] about Sea quarterly loss widens after consumers cool online spending
China makes a comeback in Bitcoin mining despite government ban
- A + A LONDON/MUMBAI (May 17): While the US extended its leading position as the dominant location for Bitcoin mining, China has reemerged as the second-largest locale despite a government ban on the activity last year. The US accounted for 37.84% of global hashrate, a measure of computing power used to extract the digital currency, between September 2021 to January, according to the Cambridge Centre for Alternative Finance, in a report released on Tuesday. The hashrate, also responsible for securing the Bitcoin network, has made a strong comeback to new highs after falling last year. Following the mining ban in China last year, the country has seen a sudden surge in activity through “covert mining operations” and has “re-emerged as a major mining hub” grabbing 21.11% of global hashrate, according to the CCAF. “This strongly suggests that significant underground mining activity has formed in the country, which empirically confirms what industry insiders have long … [Read more...] about China makes a comeback in Bitcoin mining despite government ban
Musk says Twitter must prove bot claims for deal to proceed
Elon Musk - A + A HONG KONG (May 17): Elon Musk has declared he will not proceed with his US$44 billion takeover of Twitter Inc unless the social media giant can prove bots make up fewer than 5% of its users, casting yet more uncertainty over the deal. The billionaire tweeted "this deal cannot move forward" unless Twitter provides proof of its claims, reiterating his own view that the ratio is far higher. Musk's latest online pronouncement complicates an already chaotic takeover, potentially one of the largest acquisitions the internet industry has ever seen. He recently butted heads online with Twitter chief Parag Agrawal over the way the social media giant accounts for bots, stoking speculation Musk may try to lower the price or even walk away. Twitter's shares fell another 3.2% in pre-market trading in New York, after sliding more than 8% on the previous day. The spread between Musk's offer price of US$54.20 and its last trading price is currently about … [Read more...] about Musk says Twitter must prove bot claims for deal to proceed