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TOKYO: Tokyo's Olympics chief said on Friday (Apr 16) that Japan was committed to holding a safe Games this summer, as a surge in COVID-19 cases prompted an expansion of contagion controls and with fresh calls for the Games to again be postponed or cancelled. The government is set to expand quasi-emergency measures to 10 regions as a fourth wave of infections spread, casting more doubt on whether the Olympics can be held in Tokyo in fewer than 100 days. "We're not thinking of cancelling the Olympics," Tokyo 2020 President Seiko Hashimoto said, speaking on behalf of the organising committee. "We will continue to do what we can to implement a thorough safety regimen that will make people feel complete safety." Economy Minister Yasutoshi Nishimura earlier told reporters the government was considering adding Aichi, Kanagawa, Saitama, and Chiba to six other prefectures already under contagion controls, including the cities of Tokyo and Osaka. A final decision is expected on ... » Learn More about Tokyo Olympics chief commits to Games as COVID-19 infections surge; fresh calls to postpone or cancel

Malampaya natural gas plant. Source: http://malampaya.com/ MANILA, Philippines — The Department of Energy (DOE) said during Tuesday’s hearing at the Senate that the Chevron-Udenna deal approved in March concerning the 45-percent stake in the Malampaya shares is a “voidable contract.” Energy Assistant Secretary Leonido J. Pulido III bared that the parties concur that the Chevron-Udenna deal sealed in March 11, 2020 could still be voided if it would not be approved by the DOE. The 45-percent stake of businessman Dennis Uy’s UC Malampaya LLC is worth $565 million. Pulido also stressed the sale is voidable in response to Senator Imee Marcos’ query if it is an “incomplete sale.” This means that the divestment of the 45-percent Chevron equity in Malampaya could still fail without government approval. Undersecretary Donato D. Marcos said the DOE is still evaluating the Chevron-Udenna sale as well as the financial and technical capability of the Uy-led firm to be in gas field ... » Learn More about DOE says Udenna deal in Malampaya shares a ‘voidable contract’

FILE PHOTO: This May 1, 2018, photo shows Facebook CEO Mark Zuckerberg. (AP Photo/Marcio Jose Sanchez, File) San Francisco, United States — Advocates for children from around the world urged Facebook chief Mark Zuckerberg on Thursday to ditch plans for a version of Instagram geared toward pre-teens. Campaign for a Commercial-free Childhood and the Electronic Privacy Information Center were among nearly 100 groups and individuals from North America, Europe, Africa, and Australia to make the plea in a letter to Zuckerberg. Instagram “exploits young people’s fear of missing out and desire for peer approval,” the letter contended. “The platform’s relentless focus on appearance, self-presentation, and branding presents challenges to adolescents’ privacy and well-being,” it argued, building on concerns about predators, bullies, and inappropriate content. Instagram is exploring the launch of a version of the image-centric social network for children under 13, with parental ... » Learn More about Zuckerberg urged to nix kids’ version of Instagram

The Social Security System (SSS) recorded nearly 60 million transactions in the SSS Mobile App from January to December 2020, four times more than the almost 12 million transactions recorded in the same period in 2019. SSS President and CEO Aurora Ignacio said apart from the continuous development of the SSS Mobile App, one of the key drivers of its usage increase is the need for non-contact service channels in light of the coronavirus disease 2019 (Covid-19) pandemic. “Even before Covid-19, we recognize the importance of digitally transforming our services for the convenience of our stakeholders. When the pandemic struck, we were already equipped with online service channels such as the SSS Mobile App that helped our members, pensioners, covered employers, and the public to reach us in the safety of their homes or offices,” Ignacio said. The SSS Mobile App, launched in April 2018, is a free app for smartphone users. It can be downloaded through the App Store, Play Store, and ... » Learn More about SSS Mobile App hits 60M transactions in 2020

Glovax Biotech Corp. is eyeing to start operations in October next year of a facility, which will fill vials with a vaccine against COVID-19 being developed by its partner in South Korea, according to the Department of Trade and Industry (DTI). According to a presentation of the DTI, the local company has already signed an agreement with its South Korean technology partner EuBiologics Co. Ltd. The P7.5-billion project is proposed to be located in Clark, with its “form/fill and finish” operations to start in October 2022. Four possible ventures While the entire presentation was not shown during the briefing, a copy of the slides showed that the Glovax project was one of four leads that the DTI was pursuing for COVID-19 vaccine manufacturing. The three other companies mentioned in the slides were United Laboratories (Unilab), IG Biotech and Dr. Zen Biotech Inc. Need for PH’s own facility According to the presentation, Unilab’s form, fill, and finish plant can be operational ... » Learn More about Glovax to start vaccine ‘form/fill and finish’ operations in 2022

NEW YORK: Citigroup’s Jane Fraser will become the first woman to lead a major Wall Street firm after the banking giant on Thursday picked her as its next chief executive. Fraser is set to take over the top job in February, replacing Michael Corbat who will retire. Her appointment was touted on social media for shattering Wall Street’s glass ceiling and comes amid intensifying focus on the need to diversify American corporate leadership in the aftermath of the “Me Too” movement on workplace equity and mass protests in the US for racial justice. “Jane Fraser’s appointment is an historic moment for women,” Texas Democratic Representative Al Green said on Twitter. “But we still have a way to go to achieve diversity & inclusion that captures the whole of our nation.” In April 2019, Green pressed Corbat and six other Wall Street CEOs at a congressional hearing, asking the seven white men if they foresaw a successor who was a woman or a person of color — none raised his hand. ... » Learn More about Citigroup’s Fraser breaks WS barrier

SINGAPORE: Like most office workers, economist Song Seng Wun used to spend his workdays behind a desk at his bank and never questioned it. Now, after being forced to work from home during the “circuit breaker” period last year, he has adjusted to a new rhythm. His mornings are spent at the office, then he may have meetings outside or travel around the island to check on any economic developments that piqued his interest - taking him to a manufacturing plant in Tuas or an airfield in Seletar. Later in the afternoon, he settles down at a pub near his home in Tanjong Pagar to go through reports and other reading material – washed down with a gin and tonic or a beer. He thinks he gets more done now, with the flexibility to structure his own time. “Technology essentially allows us to be more mobile … then the mindsets of companies and bosses were forced to change. If not for the pandemic and workers being stuck at home, most employers would have been reluctant to let workers out of ... » Learn More about IN FOCUS: Thinking out of the cubicle – What lies ahead for hybrid working?

The Thailand Consumers' Council (TCC) has launched a campaign to halt the cabinet's plan to rethink the extension of concessions and cheap fares on the BTS skytrain Green Line. Saree Aongsomwang, secretary-general of the newly established consumer protection body, said reviewing the 30-year extension was not an urgent issue and the cabinet should first ask the Bangkok Metropolitan Administration (BMA) to provide details about its proposal. The move follows reports the cabinet would review the lengthy concessionary status of the new electric train service and its capped fare hikes. The suggestion the cabinet was having second thoughts about the BTS Green Line concession and fares emerged last November after the government turned down the BMA's request to renew the BTS Group's favoured status. The BMA wanted to offer the current operator a 30-year extension on its concession, currently due to expire in 2029, to operate the core section of the Green Line between Mor Chit-On Nut and ... » Learn More about Train fares decision can wait: TCC

American banking giant Citi, one of the oldest foreign banks in the Philippines, is bowing out of the local consumer and retail banking business as part of a global downsizing program. This means that Citi will give up its local credit card business, retail deposit-taking, asset management and lending to individuals and households. These account for a good chunk of Citi’s existing business in the country but they are also the segments where Citi has to contend with cutthroat competition, especially with big domestic banks that have a wider distribution footprint. Citi announced its plan to exit its consumer franchises in 13 jurisdictions: Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. It will keep only the institutional businesses in these markets. This is part of a plan to direct investments and resources to the businesses where it has the “greatest scale and growth potential.” Citi will henceforth ... » Learn More about Citi pulling out of retail banking in PH

After defying the earnings slump caused by the pandemic, Phinma conglomerate plans to raise at least P2 billion from a bond offering this year to fund expansion of high-impact core businesses. This was announced by company president and CEO Ramon del Rosario Jr. during the recent annual stockholders meeting of Phinma Corp. Proceeds from the proposed bond offering are largely intended for investments that will “accelerate growth in strategic business units where Phinma has a competitive advantage and where it can make a significant social impact,” according to Del Rosario. He took note of promising developments for economic recovery and growth this year, including the nationwide vaccine rollout, lifeline measures in the Bayanihan 3 bill and the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) tax reform law. “These programs will be good for our nation and for our businesses that are strategically positioned to enable the growth of the Philippines,” ... » Learn More about Phinma planning to tap debt market to raise P2B