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Commonwealth health ministers reach consensus on key actions to address Covid-19 recovery plans

May 21, 2022 by www.theedgemarkets.com

- A + A KUALA LUMPUR (May 20): Health ministers from Commonwealth countries have agreed to collaborate on several key issues pertaining to post Covid-19 recovery efforts, including in vaccine equity, building resilient health systems and bolstering health security through harnessing digital technology. The commitment was made following a two-day virtual high level annual meeting which ended Thursday (May 19), convened under the chairmanship of Jamaica’s Minister of Health and Wellness, Dr Christopher Tufton, with the adoption of a joint statement outlining key priorities in tackling the present day’s complex health challenges following the pandemic. “The joint statement commits them to collaborating on bolstering health security, vaccine equity, and increasing investment in health to strengthen the resilience of health systems and advance Universal Health Coverage (UHC) goals,” said a statement from the Commonwealth Secretariat which was made available to Bernama . … [Read more...] about Commonwealth health ministers reach consensus on key actions to address Covid-19 recovery plans

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Amazon (AMZN) Union Gets Split Decision in NYC

May 3, 2022 by www.investopedia.com

Attempts to unionize Amazon.com, Inc. ( AMZN ) workers at two large facilities in the Staten Island borough of New York City have produced mixed results, with workers at one voting for unionization and those at the other voting against. The latter results were announced on May 2, 2022. Meanwhile, Amazon is asking the National Labor Relations Board (NLRB) to invalidate the vote in favor of the union, alleging various electoral irregularities. The Amazon Labor Union (ALU) won by a vote of 2,654 (55%) in favor out of 4,785 ballots counted at the JFK8 warehouse. However, the union lost by a margin of 618 (62%) against out of 998 votes counted at the adjacent LDJ5 sorting facility. The former site employs more than 8,000 people, while the latter has approximately 1,633 eligible voters. Key Takeaways After winning a vote to organize workers at an Amazon.com facility in Staten Island, New York, the same union lost a vote at an adjacent facility. Amazon had worked … [Read more...] about Amazon (AMZN) Union Gets Split Decision in NYC

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Bank Indonesia to pull rates lever in Q3, June move possible

May 20, 2022 by www.theedgemarkets.com

- A + A BENGALURU (May 20): Bank Indonesia will wait a few more months to raise rates from a record low despite rising inflation and aggressive moves by the US Federal Reserve, according to a Reuters poll of economists that showed a growing minority expect a hike next month. Although inflation surged to 3.47% in April, the highest in more than four years, it is still within Bank Indonesia's 2%-4% target range, suggesting the central bank is not under immediate pressure to raise interest rates. All but two of 27 economists in the May 12-19 poll expected Bank Indonesia (BI) to hold its benchmark seven-day reverse repurchase rate at a record low 3.50% at its May 24 meeting. Two expected a 25 basis point hike. Nearly one-third of respondents, 8 of 27, said the first rate rise would be in June, and the remaining 17 said it would come at one of the monthly meetings in July-September. "Next month, we expect policymakers to lay the ground for a hawkish pivot, factoring … [Read more...] about Bank Indonesia to pull rates lever in Q3, June move possible

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Deputy PM demands officals to avoid being rude and offensive to residents

May 20, 2022 by thethaiger.com

The Deputy PM, Wissanu Krea-Ngam, today demanded government officials to stop being rude and offensive to residents and avoid violating their privacy. Wissanu was speaking at the country’s first ever national forum, Better Thailand Open Dialogue, to openly share constructive ideas leading to a better Thailand. The deputy PM acknowledged the government system has changed in the modern era and civil servants and officials need to change with it and respect their residents’ needs. He led a panel on the New Era of Quality of Life – Taking Care if All Ages and Increasing Welfare Benefits, and addressed public health issues, education and managing government service. The 70 year old warned officials to refrain from using profane, offensive language towards residents, violating privacy, and avoid scenarios which could lead to sexual harassment cases. The deputy PM added that the draft of the Electronic Civil Service Act had been submitted and officials can now serve residents via … [Read more...] about Deputy PM demands officals to avoid being rude and offensive to residents

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Global firms remain upbeat about Indonesia’s digital economy

December 3, 2020 by www.thejakartapost.com

Sebastian Partogi (The Jakarta Post) Jakarta   ● Thu, December 3, 2020 2020-12-03 17:41 533 d66dcbf21949a93b498053ceec3c4812 1 Science & Tech Tokopedia,Indonesian-economy,foreign-direct-investment,e-commerce Free You might have heard the bad news already: Indonesia’s economy has just entered its first recession since the 1998 Asian financial crisis, bringing two decades of economic expansion to an end as the coronavirus pandemic has caused a sharp economic slowdown, throwing millions into poverty and out of jobs. Economically speaking, a recession is defined as contractions in two consecutive quarters, causing a significant decline in economic activity to spread across the economy, resulting in fewer jobs, people earning and spending less, as well as businesses grinding their expansions to a halt or even ceasing their operations altogether. As a result of the pandemic, the Indonesian economy shrank 3.49 percent in the third quarter after contracting … [Read more...] about Global firms remain upbeat about Indonesia’s digital economy

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China’s April Saudi oil imports soar 38% on yr, Russian oil up 4%

May 20, 2022 by www.theedgemarkets.com

Bloomberg filepix for illustration purpose only - A + A (May 20): China's crude oil imports from top supplier Saudi Arabia soared 38% in April from a year earlier, hitting the highest monthly volume since May 2020, according to Reuters ' calculations based on official Chinese customs data. Saudi shipments amounted to 8.93 million tonnes last month, equivalent to 2.17 million barrels per day (bpd), according to data from the Chinese General Administration of Customs. The hefty purchases, with trades completed mostly in February, compare with 1.61 million bpd in March and 1.57 million bpd a year earlier. Imports from second-largest supplier Russia rose a more modest 4% last month from a year earlier, with cargoes booked before western governments toughened sanctions over Russia's invasion of Ukraine in late February. Russian oil arrivals in April totalled 6.55 million tonnes, or 1.59 million bpd, data showed, up slightly from 1.5 million bpd in March and … [Read more...] about China’s April Saudi oil imports soar 38% on yr, Russian oil up 4%

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Khairy heads Malaysian delegation to WHA75 in Geneva, Switzerland

May 21, 2022 by www.theedgemarkets.com

Malaysia's Health Minister Khairy Jamaluddin (Bernama filepix) - A + A KUALA LUMPUR (May 20): Health Minister Khairy Jamaluddin will lead the Malaysian delegation to Geneva, Switzerland to attend the upcoming 75th World Health Assembly (WHA75), World Economic Forum (WEF) and 151st Session of the World Health Organisation (WHO) Executive Board (EB151) from May 22 to 30. The Health Ministry (MOH) in a statement on Friday (May 20) said it is very important for Malaysia to participate in WHA75 and EB151 to ensure that the WHO gives due consideration to the country's public health policy in making any decision. In addition, Malaysia is given the opportunity to state the country's stance in developing the health sector at the national and international levels. “The Malaysian delegation will also have the chance to conduct consultations and discussions with other member countries in the interest of global health. Malaysia's attendance at this event shows … [Read more...] about Khairy heads Malaysian delegation to WHA75 in Geneva, Switzerland

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Zoom Q1 FY2023 Earnings Report Preview: What to Look For

May 19, 2022 by www.investopedia.com

Key Takeaways Analysts estimate adjusted EPS of $0.87 vs. $1.32 in Q1 FY 2022. The number of customers contributing over $100,000 in 12-month trailing revenue is expected to rise YOY, but at a sharply slower pace than previous quarters. Revenue is expected to grow, but at a decelerating pace. Zoom Video Communications Inc. ( ZM ), which offers a video-first communications platform, saw its popularity soar during the past two years amid the COVID-19 pandemic. Earnings and revenue skyrocketed. But the company's growth has decelerated sharply in recent quarters as employees have begun to return to their offices. In this new environment, Zoom's biggest challenge is how to retain its base of large corporate customers, who are crucial to producing a steady, reliable revenue stream. Investors will be watching closely at how Zoom management plans to address these challenges when the company reports earnings on May 23, 2022 for Q1 FY 2023. The company's 2022 fiscal … [Read more...] about Zoom Q1 FY2023 Earnings Report Preview: What to Look For

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CEO: TRX infrastructure 99% completed

May 20, 2022 by www.theedgemarkets.com

- A + A KUALA LUMPUR (May 20): Tun Razak Exchange (TRX) is now 99% completed, with the remaining 1% comprising major infrastructure works which are nearing completion, master developer of the financial district TRX City Sdn Bhd said. “Although we were constrained by the Movement Control Order (MCO) resulting from the Covid-19 pandemic, we managed to continue developing TRX and the successfully completed buildings today are Menara Prudential and HSBC Bank,” TRX City chief executive officer Datuk Azmar Talib told the media at the Hari Raya open house at Raintree Plaza, TRX here on Friday. “As for the Affin Bank building, we have obtained a Certificate of Completion and Compliance (CCC) and it will be ready for occupation in the third quarter of this year," he said. Azmar said although TRX City is the master developer, the development of the individual plots depend on the respective land owners. On TRX’s retail updates, Azmar said its main commercial (area) will be … [Read more...] about CEO: TRX infrastructure 99% completed

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Caely 4Q net loss shrinks on lower impairment of property development cost

May 20, 2022 by www.theedgemarkets.com

- A + A KUALA LUMPUR (May 20): Caely Holdings Bhd’s net loss for the fourth quarter ended March 31, 2022 (4QFY22) shrank to RM9.29 million from RM23.46 million due to an improvement in property development cost on account of lower provision of impairment amounting to RM7.2 million. Loss per share shrunk to 3.61 sen from 5.57 sen, according to the lingerie maker’s bourse filing on Friday (May 20). Quarterly revenue slipped 17.09% to RM10.66 million from RM12.85 million, as the group saw buyers cancellation of sold 2 and 3 storeys shop lot amounting to a reduction in revenue of RM4.2 million. “[This was] partially offset by an increase in manufacturing sales of RM2.2 million or 18.1%, following the gradual opening of the economy arising from post-Covid-19 endemic recovery by various countries, (corresponding) to increase in sales,” it added. For the full year (FY22), Caely’s net loss also shrank to RM6.63 million from RM12.38 million, despite its revenue marginally … [Read more...] about Caely 4Q net loss shrinks on lower impairment of property development cost

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