LAHORE: Many MSMEs (Micro, Small and Medium Enterprises) across Pakistan have been actively exporting to customers in countries such as the US, UK and across Africa through the dExports program which was launched in 2019 by Daraz in partnership with Alibaba.com to give local sellers the opportunity to list their products on the platform and...
HONG KONG, CHINA - Media
OutReach - 7 July 2020
- Rental declines accelerated in Q2 in both the office and retail leasing markets,
and that overall availability of Grade A office space rising to 10.7% means
office rents will be under further pressure in the second half of the year. On
the retail side, a more stable retail leasing landscape in Tsimshatsui helped
boost the prospects there, which has overtaken Causeway Bay in terms of retail
rents for the first time, according to Cushman & Wakefield, a leading
global real estate services firm, in its review of the Hong Kong office and
retail leasing markets today.
In Q2, net absorption in the overall Grade A office
market remained in negative territory at -513,510 sq ft, as compared to
-524,947 sq ft in Q1. With COVID-19 and the worsening economic outlook continuing
to weigh on the market, the quarter saw a growing number of firms surrender
space, especially within retail, tourist-related, financial and co-working sectors,
all hard hit by the pandemic.
Mr Keith Hemshall, Cushman & Wakefield's Executive
Director, Head of Office Services, Hong Kong, commented, "Office space take up is
expected to continue to contract, leading to approximately 1.5 million sq ft of
negative absorption for 2020, as corporates reduce headcount and shelve
expansion plans. In addition, the formalization of 'work from home' initiatives
for a proportion of staff is currently being closely evaluated as a cost saving
and business risk management strategy, although the degree of its
implementation has yet to be seen and will vary according to industry sector.
Given the rising importance of wellness in the workplace post COVID-19, some of
the space freed up by such initiatives may be left vacant to reduce headcount
density and increase social distancing but cost pressures should ensure a
proportion will be handed back to the market."
The overall availability edged up further from 10.0%
in Q1 to 10.7% in Q2, the highest level in 15 years. Rents remained on the
downward trend, with Greater Central down by 7.5% from Q1, while Hong Kong East
recorded the smallest decline among all submarkets, by 2.7% on the quarter.
Mr John Siu, Cushman
& Wakefield's Managing Director, Hong Kong, commented, "With overall
availability increasing, landlords are offering a more diverse range of
incentives to generate demand for vacant premises or to retain existing
tenants. For new tenants, longer rent-free periods, partial subsidy for fit-outs,
stepped rental packages, flexible rights to break or sub-let space and bumper
fees for introducing agents are all being seen. For existing tenants, we are
seeing landlords agreeing to early lease restructures or renewals at less than
the passing rent, often with rent free being provided to lower the effective
rent."
"As surrender
stock increases, we expect overall availability to reach approximately 12% by
the end of 2020, depressing overall grade A rents by another 8% in the second
half of the year. Greater Central rents are expected to decline by up to 20%
for the full year."
The retail market remained in the grip of the COVID-19 pandemic in
Q2 as border closures and travel restrictions brought tourism to a virtual halt.
Mainland visitor arrivals volume dropped 99% year-on-year to a total of 13,446
in Q2. Retail sales in May, at HK$26.8 billion, were down
32.8% year-on-year, led by declines in jewelry & watches (69.7%) and medicine
& cosmetics (62.0%).
Rents in Causeway Bay continued to be heavily impacted by a
struggling luxury sector. With the biggest quarterly drop among all submarkets,
by 25% to HK$969 per sq ft per month, the current level represents a drop of 46%
year-on-year and of 76% from the peak in Q4 2013. The decline also meant that
Tsimshatsui, with rents at HK$1,018 per sq ft per month, surpassed Causeway Bay
as the most expensive retail district in Hong Kong for the first time.
Mr Kevin Lam, Cushman & Wakefield's Executive Director, Head
of Retail Services, Hong Kong,
commented, "The retreat of luxury will push the vacancy rate (7.9%) in
Causeway Bay further up this year. Incoming, non-luxury tenants are likely to
drag down the rents along a shift in the tenant mix. On the other hand,
Tsimshatsui's rents will be more sustainable because the retail landscape there
is owned by and has the support of several major developers. The different
trade mix there and in Mongkok also means rents of these core submarkets will
be more resilient than those of Causeway Bay and Central."
F&B rents saw a quarterly drop of around 15% for the core
submarkets in Q2, but have stabilized towards the end of the quarter following
the easing of social distancing measures in restaurants and bars in May. Although F&B sales would be down by 47%
year-on-year based on our Q2 projection, the sector's performance reflected a
base demand that consisted of largely local consumption. With the growth
momentum shifting to F&B, the sector could be close to bottoming out in
both sales and rents.
Mr Lam said, "Amid
the ongoing pandemic and rising unemployment rate, the prospects of high street
retail remain challenging. Non-discretionary retail, pop-up shops, shopping
malls with an organized promotional effort and more supporting elements for
tenants, will be among the emerging trends in the coming quarters. In this
regard, we expect shopping mall rents to be more stable than those on high
streets in the second half, where it is expected to be slightly downward or
stable at best for Causeway Bay and Central, while Tsimshatsui and Mongkok can
look to rentals to possibly edge slightly upwards."
Please
click HERE
to download the event photo.
Cushman & Wakefield (NYSE: CWK) is a leading global
real estate services firm that delivers exceptional value for real estate
occupiers and owners. Cushman & Wakefield is among the largest real estate
services firms with approximately 53,000 employees in 400 offices and 60
countries. Across Greater China, there are 22 offices servicing the local
market. The company won four of the top awards in the Euromoney Survey 2017 and
2018 in the categories of Overall, Agency Letting/Sales, Valuation and Research
in China. In 2019, the firm had revenue of $8.8 billion across core services of
property, facilities and project management, leasing, capital markets,
valuation and other services. To learn more, visit www.cushmanwakefield.com.hk
or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china)
Dar es Salaam,
Tanzania - EQS Newswire - 7 July
2020 - Tanzania's leading mobile money service provider - Vodacom
M-Pesa - has announced the expansion of its International Money Transfer
service portfolio. Vodacom customers will now have the option and ability to
easily transfer and receive funds from individuals across more than 200
countries worldwide.
This was said recently at an
international day of family remittances event held in Dar es Salaam where
stakeholders met to deliberate on the future of International Remittance post
COVID 19.
Speaking during a panel discussion
on the same, Assistant Manager, Oversight and Policy at Directorate of National
Payment Systems from Bank of Tanzania (BOT) Albert Cezari said the national
bank has increased limits on digital transactions and reviewed balances of
mobile wallets in a bid to provide relief and ensure continuity of services as
part of measures taken amidst COVID-19.
On his part, Vodacom Tanzania PLC
Managing Director Mr. Hisham Hendi, said that international remittances make
possible people and small businesses to stay connected irrespective of
geography. He further pointed out that international remittances continue to
transform the lives of thousands of Tanzanians through facilitating payments in
education, health, and various business segments which is why Vodacom M-Pesa has
aimed to continue providing a platform for Tanzanian diaspora to effectively
participate in socio-economic activities which will contribute to the overall
development of the country.
"We pride ourselves for being
enablers in the payment system by facilitating cross border trade within the
region for the efficient and seamless sending and receiving of funds, from
anywhere around the globe through M-Pesa International Money Transfer Service.'
He said.
Vodacom M-Pesa has broadened its
portfolio of partnerships and countries over the past few months to widen its
Money transfer service worldwide. At the global stage, partners include
MoneyGram, WorldRemit, Remitly and JubaExpress, all of whom enable customers to
receive money from over 200 countries across the World directly into their
M-Pesa wallet.
Pan African partnerships include
Safaricom, MTN, EcoCash and Mama Money, which enable customers to send or
receive money from Kenya, Uganda, Zambia, Burundi and South Africa.
'With such a huge portfolio of
international Money transfer partners, the world is a village with M-Pesa. We
thank our customers for their patronage and we remain committed to deliver on
our vision to lead Tanzania into the digital age and change lives through
technology" He concluded.
Peter De Caluwe, CEO- Thunes praised
the move saying such partnerships and innovations support the true African
spirit because African countries have always been connected through daily
movement of people, goods and services. International Money Transfer services
are critical to the African economies as they facilitate inflow of foreign
currency into these countries which has a direct bearing on the social and
economic welfare of Africans".
"Whilst the importance of
mobile payments to financial inclusion in developing markets cannot be
overstressed, the M-Pesa IMT service goes an extra mile by allowing previously
excluded to send and receive money across borders affordably. Thus our
partnership with Vodacom M-Pesa aims at increasing the reach of international
money transfers'.
According to World Bank Figures,
Tanzania recent remittances stood at $430 million, an increase of $25 million
from 2019. The sum represents 0.8 percent of the country's GDP.
The issuer is solely responsible for
the content of this announcement.
Vodacom Tanzania Plc is the
country's leading mobile operator and mobile financial services provider. We
provide a wide range of communication services for consumers and enterprise -
including voice, data and messaging, video, cloud and hosting, mobile solutions
and financial services - to over 15 million customers. Vodacom Tanzania Plc and
its subsidiary companies are part of the Vodacom Group registered in South
Africa, which is in turn, owned by Vodacom Group Plc of the United Kingdom. It
has been registered on the Dar es Salaam Stock Exchange (DSE) with registration
number ISIN: TZ1886102715 Stock name: VODA.
For further information, please
visit our website: www.vodacom.co.tz
About Vodacom M-Pesa Tanzania
Vodacom M-Pesa is Tanzania's largest
mobile financial service introduced by Vodacom Tanzania PLC in 2008. Now GSMA
certified and with over 10 million customers, M-Pesa has significantly
contributed towards financial inclusion and economic activity in the country.
Customers deposit and withdraw money from their M-Pesa wallets through over
200,000 agents across the country. The M-Pesa ecosystem connects businesses,
banks and government agencies making digital payments possible.
To date, M-Pesa continues to be the
market leader in mobile financial services, rolling out innovative services
such as savings & Loans, Virtual Debit cards, Overdraft services, Group
savings, E-payments and many more, which address the real needs of Tanzanian
thereby enhancing financial inclusion and deepening.
ISLAMABAD,
PAKISTAN / SINGAPORE - Media
OutReach - 7 July 2020 - Accuity, the leading
provider of financial crime screening, payment services, and counterparty
know-your-customer (KYC) solutions, today announced how leading banks across Pakistan,
including HabibMetro
Bank, Sindh Bank Limited, and Askari Bank Limited, are using Accuity solutions to
meet ever increasing regulatory requirements. Having supported more than 40% of
Pakistan's banking and financial services institutions over the past decade, Accuity continues
to work closely to enhance the sector's ability to meet their local and international
Anti-Money Laundering (AML) and Countering Financing of
Terrorism (CFT) obligations.
Pakistan has been making progress in meeting the Financial Action Task Force
(FATF) 27-point compliance requirements. By meeting this global standard,
Pakistan aims to strengthen its fight against money laundering and terrorist
financing and at the same time boost its economy by positioning itself as a
regional financial and exports hub.
"Accuity has helped
contribute to the efforts of the Pakistan government and State Bank of Pakistan
to establish a strong system to combat money laundering and terrorist
financing," said Bharath Vellore, Managing Director, Asia Pacific, Accuity.
"With our best-in-class financial crime screening and compliance solutions, our
customers in Pakistan across banking, microfinance and insurance are
confidently offering financial products and services to meet the levels of
compliance required by global, regional and local regulators They are now in a better position to accelerate
cross-border trade volumes, enable remittances from its large diaspora, drive
financial inclusion, and provide small and medium enterprise credit."
Establishing Global Banking Relationships to Serve the World's Seventh Largest
Diaspora
HabibMetro
Bank is a subsidiary of Habib Bank AG Zurich (HBZ) -- a Swiss multinational
bank with operations in nine countries. Due to its international presence and
multiple correspondent banking relations, HabibMetro must perform due diligence
on its correspondent banks in a timely manner, as per the guidelines from FATF
and the Wolfsberg Group.
To do so,
HabibMetro uses the Bankers Almanac solution from Accuity, including
the Due Diligence module, to conduct KYC due diligence
checks when increasing its correspondent banking footprint in other
geographies. Bankers
Almanac provides a single and consistent source of truth for information on
over 21,500 banks, providing supporting documentation for due diligence checks,
and allowing the Bank to more effectively manage its financial counterparty KYC
and mitigate any associated risks.
"Bankers Almanac helps HabibMetro to comprehensively manage our periodic financial counterparty
reviews and onboard new financial counterparties more efficiently, with the
click of a button," said Farooq Ahsanuddin, Head of Financial Institutions
& Remittances at Habib Metropolitan Bank. "These
capabilities allow us to increase the productivity of our financial services
team and streamline our banking operations, while delivering unparalleled
service to our customers worldwide."
Real Time Screening
Capabilities to Meet Compliance Mandates and Drive Financial Inclusion
Sindh Bank Limited is a government-owned
Pakistani scheduled bank with 330 branches in 169 cities nationwide. To
effectively manage its AML and CFT compliance checks, identify politically
exposed persons (PEP), and deter proscribed persons from engaging in illicit
financial activities, the bank adopted Firco
Compliance Link and Firco
Global WatchList® solutions to demonstrate enhanced screening
capabilities and processes to local regulators. It is also using Bankers Almanac to provide
supporting documentation for due diligence checks.
"The bank's ability
to have a consolidated
view of all accounts and transactions activities, conduct on-going and
automated screening, coupled with comprehensive audit trails to the regulators,
is fundamental
in ensuring that our branch network both meets compliance mandates and
promotes economic development," said Mr. Imran Samad, President and CEO of
Sindh Bank Limited. "We have chosen to partner with Accuity for its
sophisticated, intelligent and automated approach, speeding up operations and
improving our services to our valued customers. This in turn gives us more
capacity to innovate and help drive financial inclusion."
Setting Strong
Controls on Exports with an Advanced Trade Compliance Solution
Askari Bank Limited is
a commercial and retail bank in Pakistan that implemented Firco Compliance Link
in 2018 to manage risks related to trade-based money laundering and terrorist
financing. This solution brings together proprietary data, on-ground
intelligence, and regulatory compliance expertise that allows the bank to
centralize its screening processes against trade transactions involving
sanctioned individuals, entities, vessels, ports,
and dual-use and controlled goods
(DUG).
"By offering an
enterprise-wide, single screening solution, Accuity is covering seven different
applications of the bank that are mostly integrated for the purpose of
performing real-time screening for accounts, payments and trade transactions.
Accuity is able to meet all our compliance and business requirements, thereby
safeguarding the bank from any regulatory or reputational risks," said Mr.
Ali Raza Zaidi, Chief Compliance Officer, Askari Bank
Limited. "This allows Askari Bank Limited
to maintain our position as the local standard bearer in proactively meeting
the highest trade compliance requirements, while ensuring innovation."
More information
on the Accuity portfolio of financial crime screening and payment services solutions
can be found here: https://accuity.com/what-we-do/overview
Accuity offers a suite
of innovative solutions for payments and compliance professionals, from
comprehensive data and software that manage risk and compliance, to flexible
tools that optimise payments pathways. With deep expertise and industry-leading
data-enabled solutions from the Fircosoft, Bankers Almanac and NRS brands, the
Accuity portfolio delivers protection for individual and organisational
reputations.
Part of RELX,
a global provider of information and analytics for professional and business
customers across industries, Accuity has been delivering solutions to banks and
businesses worldwide for 180 years.
SINGAPORE - Media
OutReach - 7 July 2020 - Kincentric, a Spencer
Stuart Company, today announced the appointment of Andrew How as Singapore
Market Leader, where he will focus on client development and solutions across
Culture & Engagement, Leadership Assessment & Development, and HR &
Talent Advisory. Kincentric helps organizations unlock the power of people and
teams through their unique approach to human capital.
In his new role, Andrew will lead
client engagements and spearhead the company's strategy and expansion of its HR
advisory services in the region. As market leader, he will be integral in
establishing and maintaining Kincentric's outcome-oriented client relationships
in both Singapore and Indonesia, through trust-building and the provision of
genuine value and long-lasting impact.
As Kincentric strengthens its client
offerings, the new appointment will further fortify the company's capabilities
in HR and talent advisory for the public sector and for large local
organizations HR and talent advisory in the region. Andrew brings with him more
than 20 years of experience as a management consultant in human capital issues
related to talent management, leadership and organizational development for
regional business leaders, local family conglomerates and growth-orientated SME
firms in Singapore, Malaysia, Vietnam, Thailand, India, Indonesia, Sri Lanka
and Japan.
"Kincentric is delighted to announce
the appointment of Andrew How. He joins Kincentric at a time when our clients
require the highest quality advice to help them navigate the current economic
and health challenges. Kincentric's advisory solutions are being extensively
utilised by our clients to ensure highly engaged workforces. Andrew has an
extensive track-record of helping organizations improve their business performance
through innovative HR, talent and leadership solutions," said Stephen Hickey -- Partner,
Kincentric APME.
Alongside Andrew's extensive experience
and understanding of the regional market, Kincentric's HR and talent advisory
services will continue to aid Singapore and Indonesia clients in the
development of Human Capital & Talent Strategies such as driving employee
engagement, implementing performance culture and scorecards, managing talent
& high potentials, creating leaders and top-team intervention efforts
and advisory.
Kincentric, a Spencer Stuart company,
approaches human capital differently -- we help you identify what drives your
people, so they can drive your business. Our decades of expertise in culture
and engagement, leadership assessment and development, and HR and talent
advisory services enable us to help organizations change from the inside. Our
global network, proven insights and intuitive technologies give us new ways to
help clients unlock the power of people and teams. For more information, visit kincentric.com.
HAMBURG, GERMANY - NEWSAKTUELL - 6 July 2020 - In the coronavirus pandemic, job cuts, such as those currently at the aircraft manufacturer Airbus, are hitting the Federal Republic of Germany particularly hard. The 5100 jobs that are to be cut are not only slowing down the German economy, but are also burdening the national budget. Worldwide, Airbus plans to cut a full 15,000 jobs due to the corona crisis.
In other countries, the company is also making cuts: In France 5000 jobs are to be cut, in Spain 900, 1700 in Great Britain and 1300 at other locations worldwide. But the job cuts are not really a surprise. The Frenchman Faury had already announced a few days ago that Airbus would massively reduce its production and deliveries for two years.
In this context, however, there are also rays of hope, such as the GSB Gold Standard Corporation AG with its Chairman of the Board Josip Heit. Heit is currently in the process of expanding the group's own fleet of Embraer Jets, such as the Phenom 300 E and the Praetor 600, and to have them operated by the aviation company SPREE FLUG Luftfahrt GmbH, which has been successfully operating on the market since 1993, with its captains, co-pilots and flight attendants, under the leadership of the company owner and chief pilot Paul Häusler.
According to GAMA (General Aviation Manufacturers Association) the Phenom 300E is the "most successful business jet of the past decade". Now the Brazilian manufacturer has further improved its bestseller and made it significantly faster. The new Phenom 300E reaches Mach 0.8, which corresponds to a maximum cruise speed of 464 knots (859.33 km/h). Embraer states the range with five people on board as 2010 Nautical Miles (3724 km) (including NBAA IFR reserve).
With regard to the advantages of a business jet, CEO Josip Heit states that "when flying on a commercial airline, the passenger is exposed to about 700 touch points with strangers in terms of the risk of infection on scheduled flights, whereas when travelling on a business jet the chance of infection is about 30 times lower with fewer than 20 "touch points". Private jet providers also guarantee the passenger the right to decide for himself with whom he will travel. This means that security protocols and checklists can be followed more conscientiously. Pilots would also undergo a medical check before rotation.
Josip Heit from GSB Gold Standard Banking Corporation AG also calculates: "A business class ticket for four people from Paris to Geneva costs on average around 2200 euros on scheduled airline services. A private jet on the same route could come to a total price of about 4200 euros, i.e. only about 500 euros more per person. However, this difference in price is offset by better security measures and a time saving of almost two hours for scheduled handling!".
Against this background, GSB Gold Standard Banking Corporation AG and its partner SPREE FLUG Luftfahrt GmbH, rely on business jets from Embraer. In Embraer's Director for Central and Eastern Europe, Pana Poulios, you have found a partner with outstanding expertise and the necessary know-how, who can advise companies on the acquisition of aircraft.
GSB has several affiliated companies in whose structure raw material deposits such as rare earths and minerals are located worldwide, which refine these mineral resources responsibly and above all sustainably as valuable resources in their own factories. At the same time, GSB Gold Standard Banking is a pioneer in the use of block chain technology, because with block chain technology there is nothing to hide. The decentralisation of the block chain guarantees complete transparency so that investors can see how, when and where, for example, precious metals such as gold and silver were produced, even who was involved in each step of the processing.
Picture is available at AP Images (http://www.apimages.com)
KUALA LUMPUR - MALAYSIA
- Media OutReach - 6 July 2020 -
Adyen (AMS:ADYEN), the global payments platform of choice for many of the world's
leading companies, today announced the expansion of its acquiring capabilities
to include Malaysia.
Adyen acquiring complements the company's all-in-one
payment platform allowing merchants like BigPay, BloomThis,
Fave, foodpanda, Love, Bonito and Sephora to get the most out of each transaction with local payment
processing. This
announcement extends Adyen's local acquiring capabilities in Asia-Pacific,
following launches in Australia, Hong Kong, and Singapore, and is supported by
demand from local merchants looking to better serve the country's growing internet economy.
"Rolling out our acquiring solution in Malaysia
demonstrates our commitment to the region and to our customers' needs in the
market," said Warren Hayashi, President, Adyen, Asia-Pacific. "With Adyen's
acquiring solution in place, Malaysian merchants can better
serve their customers and benefit from higher authorization rates and lower
transaction fees."
With its best-in-class technology, and deep
acquiring expertise, Adyen looks to provide insight around local regulations,
schemes, and payment methods,
to help Malaysian merchants serve shoppers
better. Local acquiring will allow
merchants to leverage Adyen's integrated platform to deliver unified commerce
experiences regardless of where their customers prefer to pay - in store,
online or in-app.
Arzumy MD, Chief Technology Officer of payments
and loyalty platform Fave noted, "Adyen has been a strong pillar,
supporting our business and technology throughout the years. Adyen's direct
acquiring capabilities simplifies our business operations as it gives us
complete control of our payment process -- allowing us to improve revenue,
create a better customer experience and deal with payment issues more quickly
and efficiently so we can focus on getting our customers what they want when they need it. We are happy to have a partner that cares
deeply for our success."
Adyen manages the entire payment flow, including
gateway, risk management, and acquiring for merchants. This means that brands
can accelerate global expansion and optimize payment processes, while
continuing to meet the expectations of customers. Adyen offers local acquiring
in Australia, Brazil, Canada, Europe, Hong Kong, Singapore, and the US. For
more information about local acquiring and its benefits, please refer to: https://www.adyen.com/global-payment-processing.
Adyen (AMS: ADYEN) is the payments platform of
choice for many of the world's leading companies, providing a modern end-to-end
infrastructure connecting directly to Visa, Mastercard, and consumers' globally
preferred payment methods. Adyen delivers frictionless payments across online,
mobile, and in-store channels. With offices across the world, Adyen serves
customers including Facebook, Uber, Spotify, Microsoft, Singapore Airlines, and
L'Oréal.
The launch of Adyen acquiring in Malaysia
as described in this update underlines Adyen's continuous expansion of
supported payment methods and regions over the years.
HONG KONG, CHINA - Media
OutReach - 6 July 2020 - Citigroup
Inc. (NYSE: C) - The Citi-HKCSS Community Intern Program (CIP) is celebrating
its 10th year of providing internship opportunities for local
university business students at local non-profit organizations (NGOs). Since
its launch in 2010, nearly 700 interns have been nurtured through the program.
Co-organized
by Citi and the Hong Kong Council of Social Service (HKCSS), Citi-HKCSS
Community Intern Program is a first-of-its-kind cross-sector collaboration
between academia, business and the NGO sector. Sponsored by Citi, the program
aims to foster an exchange of knowledge, ideas and expertise between Hong
Kong's emerging business leaders and local non-profit organizations, through an
array of activities ranging from marketing, event management and fundraising to
day-to-day operations for NGOs. Most importantly, the program enhances the
concept of Corporate Social Responsibility (CSR) for the participating business
university students in Hong Kong.
Mr.
Wayne Fong, Head of Corporate Affairs, Citi Hong Kong, said, "This year marks
the 10th year of our collaborative effort with HKCSS. We are
delighted to have forged cross-sector partnerships for mutual learning and
contribution between local university business students and local non-profit
organizations. Over previous years, the program has served as a stage and a
classroom for resourceful young people to excel and improve their expertise and
ideas, while offering local NGOs more innovative solutions to anticipating
challenges and a chance to build awareness in the sector. Citi has a firm
commitment to Corporate Social Responsibility and strives to enable the
economic growth and progress of different stakeholders in the Hong Kong community.
We hope our future business leaders will carry with them a broadened
understanding of community needs and continue to dedicate themselves to the betterment
of society in their future careers."
Dr.
John Fung, Business Director, The Hong Kong Council of Social Service said, "Without
the strong and continuous support from Citi, this program would not have come
into its 10th year. Cross-sector partnerships and multiple
beneficiary designs are niches of the program. NGOs have got solid manpower and innovative
marketing support to improve their works. Local university business students
are able to get in touch with different underserved groups and gain in-depth
understanding of the social situation. This internship program offers comprehensive
experiential learning opportunities to enhance the future skills of the youth, preparing
them to be inclusive leaders with a social mindset. Today, I am very happy to have
two alumni, who graduated in 2010 and 2015, here to share their career successes
with attribution to early social exposure through the program. "
This
year, 80 business students will do internships at 40 local NGOs during July and
August. The CIP interns will provide strategic and operational assistance to
their assigned NGOs in areas including but not limited to network building,
brand-building, fundraising, social enterprise business, operations and
community service support. To enhance their understanding and social mindset, the
interns will receive 20 hours of comprehensive coaching on social service
development in Hong Kong, Corporate Social Responsibility (CSR) and
cross-sector collaborations prior to the start of their internships. Some participating
non-profit organizations provide services to a wide range of stakeholders,
including low-income groups, the elderly, students with special needs, and
persons with disabilities, while others promote nature conservation.
Photos:
Photo download HERE.
Citi,
the leading global bank, has approximately 200 million customer accounts and
does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.
Additional
information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi
| Blog: http://new.citi.com
| Facebook: www.facebook.com/citi
| LinkedIn: www.linkedin.com/company/citi
The
HKCSS is an umbrella organisation of 480 agency members that provide over 90%
of the social welfare services in Hong Kong. HKCSS launched the Caring Company
Scheme to build a cohesive society by promoting strategic partnership among
business and social service partners and inspiring corporate social
responsibility through caring for the community, employees and the environment.
HKCSS puts much effort into building capacity for social enterprises through
the Social Enterprise Business Centre (SEBC) to advance social entrepreneurship
and mobilize social innovation.
Additional information may be found at www.hkcss.org.hk
| Facebook: www.facebook.com/hkcssfans
BONN, GERMANY - Media
OutReach - 6 July 2020 - DHL, part of the world's leading
logistics company Deutsche Post DHL Group, has been positioned as a Leader by
Gartner, Inc., the world's leading research and advisory company, in its June 2020
Magic Quadrant for Third-Party Logistics, Worldwide. Both DHL divisions, DHL
Supply Chain and DHL Global Forwarding, were considered within this research.
"We fundamentally believe in putting our
customers at the heart of our business" said Oscar de
Bok, CEO of DHL Supply Chain and Member of the Board of Management of Deutsche
Post DHL Group. "We develop the most effective solutions when we step
beyond being a logistics service provider and invest in really understanding
the challenges our customers are facing as their partner. To do this ongoing
dialogue and proximity to our customers are key -- especially in times of the
Corona virus with all the additional demands that brings. Reliability and
flexibility are crucial. That is the only way to quickly react to changing
market conditions, balance volume fluctuations and, if necessary, set up
entirely new supply chains fast."
Tim
Scharwath, CEO of DHL Global Forwarding and Member of the Board of
Management of Deutsche Post DHL Group added: "The forwarding solutions offered
by DHL Global Forwarding around the globe have been just as crucial as the
right supply chain management, warehousing, transport and strategic consulting
provided by DHL Supply Chain. I am particularly pleased that DHL has been
recognized in this report."
De Bok added: "Our various e-Commerce
offerings are an area of significant commitment for us alongside our business
partners. As a division of brands, we receive top marks from our customers year
over year. In addition to this, Gartner, Inc. has again named DHL a Leader in
the Magic Quadrant for Third-Party Logistics, Worldwide."
DHL is one of 16 international companies
recognized in this report that Gartner, evaluated based on completeness of vision
and ability to execute. In 2020, DHL is positioned highest for the ability to
execute.
Gartner "Magic Quadrant for Third-Party
Logistics, Worldwide," David Gonzalez, et al, 10 June 2020
Gartner
does not endorse any vendor, product or service depicted in our research
publications, and does not advise technology users to select only those vendors
with the highest ratings or other designation. Gartner research publications
consist of the opinions of Gartner's Research & Advisory organization and
should not be construed as statements of fact. Gartner disclaims all
warranties, expressed or implied, with respect to this research, including any
warranties of merchantability or fitness for a particular purpose.
DHL is the leading global brand in the logistics
industry. Our DHL divisions offer an unrivalled portfolio of logistics services
ranging from national and international parcel delivery, e-commerce shipping
and fulfillment solutions, international express, road, air and ocean transport
to industrial supply chain management. With about 380,000 employees in more
than 220 countries and territories worldwide, DHL connects people and
businesses securely and reliably, enabling global sustainable trade flows. With
specialized solutions for growth markets and industries including technology,
life sciences and healthcare, engineering, manufacturing & energy,
auto-mobility and retail, DHL is decisively positioned as "The logistics
company for the world".
DHL is part of Deutsche Post DHL Group. The
Group generated revenues of more than 63 billion euros in 2019. With
sustainable business practices and a commitment to society and the environment,
the Group makes a positive contribution to the world. Deutsche Post DHL Group
aims to achieve zero-emissions logistics by 2050.
On the Internet: dpdhl.de/press
Follow us at: twitter.com/DeutschePostDHL
SINGAPORE - Media
OutReach - 6 July 2020 - Union
Bank of the Philippines (UnionBank) recently hosted a digital fireside
chat on "Transformational Regulatory Change to Accelerate Innovation"
with the Philippine Central Bank Governor Dr. Benjamin Diokno and Monetary
Authority of Singapore (MAS) Chief FinTech Officer Sopnendu Mohanty, moderated
by UnionBank Vice-Chairman Dr. Justo A. Ortiz.
The special hour-long discussion touched on various topics
including open banking, the National ID system, blockchain and central bank
digital currency among others. Governor Diokno and Mr. Mohanty also discussed
the regulatory frameworks in the Philippines and Singapore respectively,
highlighting the need for a sandbox approach when dealing with emerging
technologies.
"Regulation and innovation - they sound like an
oxymoron. For a long time it may have been the case but it is no longer,"
said UnionBank Vice Chairman Justo Ortiz.
Ortiz opened the session by recalling how compliance with
regulatory requirements paved the path for UnionBank's transformation journey,
showing how regulators can often be catalysts for innovation. "The only
way to handle the compliance requirements in a sustainable, effective and
timely way was to digitize our processes so that we could acquire, store,
access and report the data in the various cuts the regulators want to see, and
that went into our strategic planning exercise," Ortiz shared.
Central Bank Governor Benjamin Diokno recognized the crucial
role of technology in revitalizing the economy amidst the ongoing COVID-19
crisis. He emphasized that the Central Bank's prioritizes support for banks and
financial institutions so that these can deliver financial services to the
public using innovative technology.
With this, the Governor shared three principles to foster an
environment conducive to innovation. First, regulations have to risk-based,
proportionate and fair. Second, there has to be active multi-stakeholder
collaboration. Lastly, innovations should benefit consumers, especially the
most vulnerable and those availing of financial services for the first time.
Governor Diokno shared an overview of the Philippine Central
Bank's
Fintech Roadmap which focuses on proportionality of regulation based on risk
profile and systemic importance. He also discussed improving Central Bank's
capabilities through regulatory and supervisory technology such as AI and
predictive analytics. Finally, Governor Diokno highlighted the importance of
open collaboration between financial regulators and fintech players and
providing a flexible "test and learn" environment to engage and
oversee fintech innovators. UnionBank's i2i, which connects rural banks through a
blockchain-based network, was cited as one of the successful initiatives born
out of the Central Bank's test and learn approach.
MAS Fintech Chief Sopnendu Mohanty shared his view on what a
post-COVID19 economy will be like and gave insights on what regulators should
look into to respond and adapt to this new normal.
He mentioned that the pandemic has affected businesses in
two ways: first, it shifted the focus of digitalization from efficiency and
productivity to resiliency and sustainability, and second, it accelerated the
digitalization of all processes. According to Mohanty, this new digital normal
will make economies more open, connected and interoperable. However, regulators
must embrace progressive policies for this to happen.
Mohanty emphasized the need for National Digital
Infrastructure which lays the foundation for fintech capabilities such as the
National ID, eKYC and seamless payment facilities. He also noted the need for
trusted data exchange at the national level.
Another key component of a connected financial services
ecosystem is open Application Programming Interfaces (APIs) which can be
accessed and consumed by financial institutions and fintechs. According to
Mohanty, this is the first step to open banking and allows more seamless data
accessibility among institutions, thus leading to better financial products and
services as well as inclusive prosperity.
Lastly, Mohanty echoed the principles raised by Governor
Diokno such as the need for a collaborative mindset and implementation of
balanced and agile regulations. He also noted that an environment conducive to
experimentation and collaboration, matched with regulation that adapts to
ever-changing scenarios, can bring forth transformative innovations that
benefit economies.
The fireside chat was part of UnionBank's Tech Up 0-1-2-3
webinar series, co-organized with the Fintech Philippines Association, the
Distributed Ledger Technology of the Philippines (DLTAP), Tech Up Pilipinas,
Philippine Fintech Festival, UnionBank GlobalLinker and UBX.
