ONLY TWO-THIRDS OF EXPORT VALUE OF TEXTILES AND CLOTHING FROM ASEAN CONSTITUTE THEIR OWN GDP - SAYS ASEAN-JAPAN CENTRE

^{"Global Value Chains in ASEAN: Textiles and Clothing" issued by AJC (Graphic: Business Wire)}


TOKYO, March 31 (Bernama-BUSINESS WIRE) -- Textiles and clothing¹ are archetypal industries through which ASEAN member states achieve industrialization and integration into the global economy, according to Global Value Chains in ASEAN: Textiles and Clothing (https://www.asean.or.jp/en/centre-wide-info/gvc_database_paper14/) published by the ASEAN-Japan Centre.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200331005288/en/
 

It is essential to recognize the significant intra-industry variation in terms of technological attributes and factor intensity. For ASEAN, the most vibrant is clothing, which is often a major exporter, generating significant employment. Cambodia, Indonesia, Myanmar and Viet Nam are the world’s major exporters of clothing. Textiles, in contrast, play a less salient role in its overall export structure because of their technology and capital intensity.

In the clothing industry, the lower-income ASEAN countries tend to specialize in labour-intensive activities such as cut, make and trim operations. In contrast, knowledge-intensive processes such as design and marketing are concentrated in the more advanced economies of the region.

In 2017, the domestic value added in exports of textiles, clothing and leather (TCL) in ASEAN was about $51 billion, or 68 per cent of the total exports, which becomes part of the ASEAN GDP, while the foreign value added was the remaining balance of about $24 billion, or 32 per cent.

Process and product upgrading occur primarily through technological transfer from lead firms (buyers) in global value chains. However, functional upgrading is typically achieved through local and regional markets.

Failures to realize functional upgrading would leave enterprises in these industries with no option other than to apply a “race to the bottom” strategy. At the macro-level, this failure is among the root causes of the “middle-income trap.” Local and regional markets are key to prevent this result and to achieve sustainable industrial development.

Policies to promote the TCL industry in ASEAN should carefully take into account the differences of each of the member countries, particularly with respect to the dynamics of international comparative advantage, which primarily stem from differences in technological and resource endowments. Promoting further regional integration will expand and deepen intraregional networks of production and distribution. To promote inclusiveness, efforts to upgrade the skills of the labour force will be crucial. A refocusing on the ASEAN regional market would prove fruitful for sustained industrial upgrading.

¹ This industry often includes “leather.” Thus, statistical data on textiles and clothing refers to textiles, clothing and leather.

˂˂ASEAN-Japan Centre˃˃
The ASEAN-Japan Centre is an intergovernmental organization established by the ASEAN Member States and Japan in 1981. It has been promoting exports from ASEAN to Japan while revitalizing investment, tourism as well as people-to-people exchanges between the ASEAN Member States and Japan.
URL: https://www.asean.or.jp/en/

View source version on businesswire.com:
https://www.businesswire.com/news/home/20200331005288/en/

Contact

ASEAN-Japan Centre
Tomoko Miyauchi
E-mail: toiawase_ga@asean.or.jp

Source : ASEAN-Japan Centre

Yamagata eyes 'Mogami Safflower' as world's important agricultural heritage system

KUALA LUMPUR, March 31 -- The Yamagata Prefectural Government has decided to apply for designation as a Globally Important Agricultural Heritage System (GIAHS) to inherit the traditional and unique ‘Mogami Safflower’ agricultural system for the next generation.

According to a statement, the GIAHS is applied along with the Yamagata Safflower Promotion Committee, aimed to widely disseminate its value to the world.

GIAHS is a system by which the United Nations Food and Agriculture Organization certifies areas of traditional agricultural importance that are vital worldwide.

The committee is preparing to submit an application for GIAHS designation to Japan's Ministry of Agriculture, Forestry and Fisheries by June 10.

In mid-July, safflower festivals are held in various parts of the prefecture, and the agricultural system is promoted at the venue where safflowers are in full bloom.

‘Mogami Safflower’ of Yamagata is a natural dye ingredient producing a beautiful crimson red dye. Yamagata is the sole prefecture with this unique and traditional agricultural system in the world.

Safflower producers pluck the yellow petals of the flower and extract the red pigment via oxidation to produce the material for natural dye called ‘Benimochi’. Then, it is used to dye ‘Shinto’ ritual costumes and as paint for ukiyo-e woodblock prints.

-- BERNAMA

BigSpring appoints 2 vice-presidents for Customer Success, Sales

_{Sudha Bala, Vice President, Customer Success at BigSpring (Photo: Business Wire)}

KUALA LUMPUR, March 30 -- BigSpring, a mobile learning and productivity platform provider has appointed Sudha Bala as vice-president (Customer Success) and Luke McNeal as vice-president (Sales), bolstering its leadership team.

According to a statement, Bala will be responsible for global customer advocacy, ensuring the customer is at the heart of BigSpring’s growth strategy.

Meanwhile, McNeal will continue to grow the company’s strong presence in Asia and propel its global expansion, strengthening existing partnerships and adding to its customer base.

McNeal joined BigSpring from Facebook, where he led the Workplace enterprise connectivity platform across Asia Pacific.

Bala comes to BigSpring from SAP after over two decades in customer leadership roles, running successful customer strategy, marketing and advocacy programmes.

BigSpring provides employers with measurable value, empowering learners of any stripe with skills training that for the first time also provides real-time, on-the-job performance and productivity measurement, ensuring business goals are met.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF LIG INSURANCE (CHINA) CO LTD

AM BEST AFFIRMS CREDIT RATINGS OF LIG INSURANCE (CHINA) CO LTD

China Taiping Insurance (Macau) Credit Ratings affirmed - AM Best

KUALA LUMPUR, March 30 -- Global credit rating agency, AM Best has affirmed the Financial Strength Rating of A (excellent) and the Long-Term Issuer Credit Rating of ‘a’ of China Taiping Insurance (Macau) Co Ltd (CTIM) Macau. 

The stable outlook of these Credit Ratings reflects CTIM’s balance sheet strength, which AM Best categorised as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

The ratings also reflect the support the company receives from its parent, China Taiping Insurance Holdings Company Limited, according to a statement.

CTIM’s risk-adjusted capitalisation continued to improve in 2019, mainly driven by organic growth in its capital through profit retention, as well as the settlement of large claims and reinsurance recoverables related to prior accident years.

The company’s investment strategy remains conservative with the majority of the investment portfolio allocated in low risk assets, including cash and bonds. CTIM’s underwriting and investment portfolio continues to generate profit and support its capital growth.

While positive rating actions are unlikely in the near term, negative rating actions could occur if there is a significant deterioration in the company’s operating performance, a material decline in its risk-adjusted capitalisation or a substantial loss of its market share in Macau.

More details at www.ambest.com.

-- BERNAMA

Nippon Express' temperature-controlled facility in Chiba's Narita obtains GDP certification

KUALA LUMPUR, March 26 -- Nippon Express Co Ltd has received Good Distribution Practice (GDP) certification for its in-transit air cargo storage services at the Narita Temperature Controlled Hub in Chiba Prefecture, Japan.

The certification, effective Feb 6, indicates compliance with industry-accepted standards for proper distribution of pharmaceutical products for the temperature-controlled facility within a company logistics centre near the Narita Airport.

According to a statement, obtaining GDP certification in the Narita area, one of Japan's principal air cargo gateways, will better enable Nippon Express to provide high-quality and safe pharmaceutical transport services on a global level.

More details at http://www.nipponexpress.com/

-- BERNAMA

HONG KONG SCIENCE PARK VIRTUAL CAREER EXPO ATTRACTING 15,000 VISITATIONS FROM WORLDWIDE I&T TALENT FOR 1,100+ JOBS AVAILABLE

I&T multinational companies, trailblazing startups, industry experts and experienced recruiters to share insights on the exciting opportunities with candidates

HONG KONG, March 27 (Bernama-BUSINESS WIRE) -- Hosted by Hong Kong Science and Technology Parks Corporation (HKSTP), Hong Kong Science Park Virtual Career Expo 2020 (The Expo) is hosting more than 1,100 jobs from 160 tech companies from March 25 till April 21, with a view to attracting more global talent to build a robust talent pool in the city.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200326005385/en/

During the first day, the city’s first and largest virtual career fair for innovation and technology (I&T) reported an overwhelming response from 15,000 visitations from talent worldwide and 60,000 page views. 2,000 CVs were submitted through the fair for the job opportunities being offered from four major technology fields: biomedical technology, artificial intelligence and robotics, smart city and fintech.

Albert Wong, Chief Executive Officer of HKSTP, said: “In midst of current challenges, I&T never stops but is powering ahead. Our Virtual Career Expo, in a few hours since on live, has reported 15,000 visitations from worldwide I&T talent in 45 economies, demonstrating strong interest among talent in I&T.

“Talent is at the heart of I&T that drives economic growth and benefits the whole world. While Hong Kong is one of the birthplaces of a great deal of innovation and maintains in its unique position as an international I&T hub to be built in the Greater Bay Area, there is clear potential to boost our innovative capacity further. We aspire to open the door to a new world of possibilities for the world’s best talent to come and together shape an even better future.”

The majority of the jobs at the fair are in technology and R&D, such as information and communication technology, engineering and biomedical science. About one third of those roles are looking for fresh college graduates. 75 per cent of the positions are open for bachelor degree holders and 20 per cent are for post graduates or those with doctoral degrees and above.

Companies that are hiring include Hong Kong Science Park companies, current incubatees and graduates from HKSTP’s incubation programmes, SMEs and multinationals. The companies use virtual exhibition booths to share career-related information, and hold on-demand live chats, webcasts and presentations to converse with potential hires. Job applicants can submit their resumes and documents in a seamless virtual environment.

During the Expo, HKSTP is hosting free and interactive webinars daily, featuring I&T multinationals, trailblazing startups, industry experts and experienced recruiters to help candidates gain greater insights on the opportunities and career potential in the I&T industry. The guest speakers include Dr. KC Tsui, Chief Operating Officer of CryptoBLK; Lydia Leung, Chief Executive Officer of Belun; Miles Wen, Chief Executive Officer of Fano Labs; Patrick Tu, Chief Executive Officer and Co-Founder of Dayta AI; Patrick Yu, Vice President of People at Lalamove; Stanley Sy, Chief Executive Officer of Sanomics.

http://mrem.bernama.com/viewsm.php?idm=37048

TA Associates completes strategic growth investment in Accion Labs

KUALA LUMPUR, March 27 -- TA Associates, a leading global growth private equity firm has completed a strategic growth investment to join Basil Technology Partners as an investor in Accion Labs (Accion), a digital-focused software product engineering company.

According to a statement, the financial terms of the transaction were not disclosed.

Accion’s expertise ranges across advanced UX, artificial intelligence and machine learning, big-data/analytics, migration to cloud/SaaS and re-engineering of legacy platforms, process automation, mobility, augmented reality and IOT.

“Spending in the digital engineering market is being driven by technology and business model innovations, growth in technology companies, including start-ups, and the emergence of a global digital ecosystem,” said TA Associates Advisory Private Limited managing director, Dhiraj Poddar.

“With its innovative and solutions-driven approach, we believe that Accion is well-positioned to continue capitalising on these trends and further grow its market share in this vibrant industry.”

“We welcome the opportunity to work with TA, leveraging their deep US market experience to help scale Accion organically and through M&A,” said Basil Technology Partners chief executive officer & partner, Sameer Kanwar.

Aditya Sharma, Principal at TA Associates Advisory Private Limited and Poddar will join the Board of Directors of Accion Labs.

More details at www.ta.com.

-- BERNAMA

COVID-19: VistaJet assists governments, medical organisations via global infrastructure

KUALA LUMPUR, March 26 -- VistaJet, the first and only global business aviation company, is helping to ensure that those with critical travel requirements during this time of uncertainty are able to keep moving

Understanding the global community’s needs as the world works to respond to the evolving situation on COVID-19, VistaJet continues to identify new ways to be of help through its global network and infrastructure.

According to a statement, the company works directly with Governments and Consulates globally, helping them to repatriate citizens by providing complimentary empty leg flights.

To further ensure that officials are able to keep their response plans as prompt as possible, VistaJet assists with the complex logistics of the necessary permits and paperwork.

As cargo flights drastically fall owing to the cancellation of major global commercial routes, and inspired by the incredible gesture of humanity seen worldwide, VistaJet is also in talks with medical organisations, health experts and regulators to identify other solutions to help, including the transportation of key medical supplies.

Additionally, empty leg flights are being offered complimentary for critical flights to transport medical experts to necessary locations as they help to fight the global pandemic.

VistaJet has also introduced its Dynamic Jet Lease, a short-term lease over one, two or three months, offering a dedicated aircraft and crew positioned at the nearest possible airport to customers.

More information on VistaJet’s heightened efforts at vistajet.com/coronavirus-updates

-- BERNAMA

Nippon Express' Osaka Office acquires certification from Japan Halal Association

KUALA LUMPUR, March 27 -- Nippon Express Co Ltd recently received halal certification from the Japan Halal Association for a dedicated area set up within its Osaka International Transport Branch's Chuo International Office in Minato Ward, Osaka.

According to a statement, this is the third Nippon Express location in Japan to be granted such certification, the first two being in Tokyo and Fukuoka.

The Osaka International Transport Branch's Chuo International Office handles import/export, bonded warehouse storage and domestic logistics operations for halal products.

To handle an anticipated increase in foreign visitors from a diversity of cultural backgrounds, Nippon Express is constructing a network for halal logistics services to support customers' supply chains in Japan, where interest in halal products is growing, in order to offer safety and peace of mind to Muslim visitors and residents.

More details at http://www.nipponexpress.com/

-- BERNAMA

COVID-19: Mary Kay manufactures, donates hand sanitiser

KUALA LUMPUR, March 27 -- Mary Kay Inc has announced the company will dedicate part of its global supply chain and manufacturing capabilities to producing the much-needed hand sanitiser.

According to a statement, the first products off the line will be for donation to those on the front lines addressing the COVID-19 pandemic.

The Centers for Disease Control and Prevention (CDC) recommends the use of alcohol-based hand sanitiser to prevent infections. Due to consumer demand, there’s been a great shortage in CDC-recommended hand sanitiser at homes and healthcare settings.

Mary Kay has been working over the past week to move into production by procuring raw materials, determining packaging availability on hand, preparing the manufacturing production lines and ensuring shipping.

The first batch of hand sanitiser products will be donated to the Baylor Scott & White Dallas Foundation. Baylor Scott & White is the largest not-for-profit healthcare system in Texas and one of the largest in the United States.

More details at https://www.marykay.com/

-- BERNAMA

University’s Boron Neutron Capture Therapy centre treats overseas brain cancer patients

KUALA LUMPUR, March 25 -- National Tsing Hua University (NTHU) has converted Tsing Hua Open pool Reactor (THOR) for use in Boron Neutron Capture Therapy (BNCT), in cooperation with the Taipei Veterans General Hospital (TVGH).

On Feb 14, the melodious strains of the fourth movement of Mahler's Fifth Symphony were heard inside the building of THOR at NTHU. This is the favourite piece of music of a European woman who was here to undergo BNCT for a malignant brain tumour.

According to a statement, this was her second course of treatment and the size of malignant glioma deep in her brainstem was reduced from 3.51 cm to 1.06 cm after the first treatment.

To date, the treatment has provided a new lease on life to over 130 cancer patients worldwide.

According to Professor Chou Fong-in, BNCT is a target radiation therapy in which the patient is first injected with a boron-containing drug; once the drug has accumulated in the tumour, the neutron beam is used to irradiate the tumour for delivering curative doses specifically to tumours, while sparing normal tissue.

As explained by TVGH oncologist Chen Yi-wei, boron-10 drug contains the structure like essential amino acids and cancer cells need lots of nutrients to support their abnormal proliferation.

According to Dr Chen, the key requirements for BNCT are a boron-containing drug suitable for absorption by cancer cells and a stable neutron source with appropriate energy spectrum, whereby NTHU’s research reactor has been retrofitted to provide the neutron source.

NTHU and the Taoyuan City Government are planning to jointly develop a medical complex as part of the Taoyuan Aerotropolis to be built near the Taoyuan Airport. The BNCT will play a major role at the new facility and will be used to treat Taiwanese and overseas patients.

-- BERNAMA

BUSINESS AS USUAL AT HYTERA'S INTELLIGENT MANUFACTURING CENTER AMID COVID-19

Hytera’s intelligent manufacturing center in Shenzhen has enabled it to maintain production despite the disruption caused by the COVID-19 pandemic. The flexibility built into the center has also allowed Hytera to manufacture disposable face masks to help offset the global shortage caused by the virus.

SHENZHEN, China, March 25 (Bernama-BUSINESS WIRE) -- Hytera Communications, a leading global provider of private professional communications solutions, has been able to keep its manufacturing systems working normally despite the threat posed to global supply chains caused by the COVID-19 pandemic, thanks to its investment in intelligent manufacturing and supply chain solutions.

The key to this capability is Hytera’s intelligent manufacturing center in Shenzhen, China, which boasts high levels of smart manufacturing technology and automation.

The intelligent manufacturing solutions provide a flexible and agile manufacturing and supply chain system. Intelligent manufacturing and management systems, automated dispensing, assembly and functional testing are designed to guarantee production precision and high levels of efficiency. This is augmented by an automated packaging system and the ability to remotely monitor products.

At the heart of Hytera's intelligent manufacturing system is the flexible production line, which utilizes a manufacturing execution system to streamline the entire production process through real-time information. The production line is so flexible that it can be reorganized to manufacture many different products, ensuring a fast response to changing markets and customer demands.

Hytera began adopting intelligent manufacturing solutions at the Shenzhen center back in 2013, in order to meet the demanding manufacturing criteria, including customization, delivery cycles and product reliability, of high-quality professional mobile communications devices, such as two-way radios.

The company now has more than ten smart production lines. In 2019, Hytera made a major breakthrough in its development of intelligent manufacturing and at the start of this year its intelligent manufacturing processes officially reached the Industry 4.0 stage. In the next five years, one of Hytera’s main goals is to upgrade all its manufacturing processes to meet ‘smart’ manufacturing standards.

The Hytera Smart Factory in Shenzhen also incorporates intelligent warehousing and logistics systems. An important part of the global supply chain is the Hytera manufacturing center in Zaragoza, Spain, which focuses on providing customized solutions designed to meet the specific needs of its European and American customers.

The flexibility of Hytera’s intelligent manufacturing processes has also enabled the company to switch some production lines to the manufacture of disposable face masks to help combat the global shortage caused by the COVID-19 epidemic.

Production of face masks began in early February and has been rapidly ramped up to achieve mass production levels. Hytera's disposable face masks are already available in the market around the world.

Hytera’s response to the COVID-19 outbreak has gone farther. The company immediately set up a national emergency support team and got in contact with health committees, prevention and control departments, medical institutions, and non-profit organizations throughout China to help coordinate all aspects of support, including equipment donations, communications support, and field services. The company has also donated more than 3,000 communication devices nationwide, helping fulfill its corporate social responsibilities.

The development of the intelligent manufacturing system is one of the main outcomes of Hytera’s strategy of continuous investment in research and development. The company invests 15% of its annual revenue in R&D and has 2,342 patents filed globally. Around 40% of its staff headcount are R&D engineers, of whom 80% hold a master’s or doctor’s degree.

http://mrem.bernama.com/viewsm.php?idm=37035

HP Neverstop Laser helps business professionals stay productive working at home

KUALA LUMPUR, March 25 -- HP Inc recently announced the global availability of HP Neverstop Laser, the world’s first toner tank.

“As business people shift to work from home, they need technology that is easy to use and printing with fewer interruptions – HP Neverstop delivers both,” said HP Inc president (Printing), Tuan Tran in a statement.

“This means printing for months, without having to refill toner, at the lowest cost per page.”

The HP Neverstop Laser offers no cartridge replacement interruptions with up to 5,000 pages of printing included before first toner reload.

The HP Toner Reload Kits cost less, with up to 2.5 times more pages compared to in-class HP cartridges.  It can restore toner levels with up to 2,500 pages quickly with no mess, no stress.

It also provides easy mobile scanning and printing, secure fax sending, seamless Toner Reload Kit ordering and Smart Tasks document organisation with the HP Smart App, which allows on-the-go access from virtually anywhere.

Pricing and more information at hp.com/neverstop

-- BERNAMA

OLYMPUS SCIENTIFIC CLOUD™ V. 3.0 DELIVERS EVEN MORE VALUE TO OLYMPUS CONNECTED INSPECTION AND ANALYTICAL DEVICES WITH POWERFUL TOOLS AND FREE FEATURES

The first OSC 3.0 App—the Inspection Project Manager—simplifies and streamlines corrosion inspection


WALTHAM, Mass., March 26 (Bernama-GLOBE NEWSWIRE) -- Data handling can be heavy, disorganized and complicated, but the Olympus Scientific Cloud (OSC) version 3.0 offers powerful new tools that simplify it, enabling users to leverage the Internet of Things and Industry 4.0 for their inspection and analytical applications. Accessed directly from the Olympus-IMS website, users will experience a streamlined UI, a new App Marketplace, instrument fleet and personnel management tools, cloud data storage and more.

Expanded Capabilities

The OSC 3.0 is a single-source platform for all connected Olympus industrial devices to provide continuously enhanced, comprehensive solutions. By signing up for a free OSC account, users with Olympus wireless-enabled devices—including the Vanta^™ XRF analyzer, EPOCH^™ 6LT flaw detector and 38DL PLUS^™ thickness gage with a 38-Link^™ adaptor—can expand their instrument’s capabilities with free features such as 10 GB of storage per tenant, wireless software updates, cloud access to manuals and calibration certificates, user registration, role management and more.^*

Users can also browse free and paid applications designed to ease some of their most pressing pain points in the new App Marketplace. The first of these new apps, the Inspection Project Manager (IPM), was released with OSC 3.0.

The IPM app transforms thickness gage inspection workflows by making them more agile. For supervisors, it provides the tools they need to manage their projects efficiently. Projects can be broken down into as many jobs as required, with tasks and instruments assigned to specific inspectors. Managers maintain visibility throughout the inspection and can monitor the status of each project, job and task. Inspectors in the field can download survey files that have been provisioned for them by a manager and share data with supervisors in the office as soon as it has been captured. Future updates will expand the capabilities of this app to work with other Olympus industrial products.

Secure Access and Control

The OSC provides a single location where administrators can control the users and devices associated with their cloud tenant. Admins can control users’ privileges and roles, add/remove members, manage their data and manage subscriptions. For devices, users can add new devices to their tenant and view previously registered instruments. Critical documentation associated with each instrument, such as calibration certificates and user manuals, can also be viewed and downloaded.

Your Data, When and Where You Need It

The OSC makes it easier to get the right information in front of the right people quickly and efficiently. Each OSC tenant receives 10 GBs of free data storage, and you can upload any type of file that you want. If more than 10 GBs of storage is required, users can add more by subscribing to a higher tier of service.

The OSC is protected by leading-edge security features and is built on the Microsoft Azure platform. Users maintain full ownership and control over their data, and Olympus does not access or share customer information.

For more information about the Olympus Scientific Cloud, or to sign up for a free account, visit Olympus-IMS.com.

About Olympus
Olympus is a global technology leader, crafting innovative optical and digital solutions in medical technologies; life sciences; industrial solutions; and cameras and audio products. Throughout our nearly 100-year history, Olympus has focused on being true to society and making people’s lives healthier, safer and more fulfilling. 

Our Industrial Solutions Business is committed to the safety and betterment of society through the pioneering, development and manufacture of world-leading test and measurement solutions. These solutions are used in industrial and research applications ranging from aerospace, power generation, petrochemical, civil infrastructure, automotive and consumer products. For more information, visit https://www.olympus-ims.com.

Olympus…True to You. True to Society. True to LIFE.

*Available features vary by instrument.

Olympus, the Olympus logo and the Olympus Scientific Cloud are trademarks of Olympus Corporation or its subsidiaries.

Media Contact:
Hilary Banda
781-419-3624
Hilary.Banda@olympus.com 

SOURCE : Olympus

Japanese insurers grapple with global market volatility - Best's Commentary

KUALA LUMPUR, March 23 -- Despite the recent global equities rout, insurers in Japan remain financially stable to weather market volatility, given their robust balance sheet fundamentals, according to AM Best commentary in a statement.

The new Best’s Commentary, titled ‘Japanese Insurers Continue to Grapple With Global Market Volatility’ states that in AM Best’s view, the credit fundamentals of most insurers in Japan have not changed materially, even with the ongoing COVID-19 virus outbreak and the recent declines seen across global stock markets.

Domestically, the share prices of most of Japan’s large insurance groups have decreased by 30 to 40 per cent from the year-start.

In AM Best’s opinion, the recent share price movements of the major insurance groups do not have much in relation to the business fundamentals of Japan’s major insurance groups.

In addition, most domestic insurers maintain capital adequacy ratios and financial leverage ratios that AM Best considers to be conservative relative to global peers, which should enable the companies to withstand adverse market conditions.

With global financial markets expected to remain volatile over the near to medium term, AM Best’s view of Japanese insurers’ financial strength would be largely subject to the development of oil prices, as well as the evolving nature of the current COVID-19 pandemic, particularly in Europe and the United States.

-- BERNAMA

India’s National Insurance Company Limited Credit Ratings withdrawn - AM Best

KUALA LUMPUR, March 23 -- Global credit rating agency, AM Best has withdrawn the Credit Ratings of National Insurance Company Limited (National) India as the company has requested to no longer participate in AM Best’s interactive rating process.

In the same statement, AM Best has affirmed the Financial Strength Rating of C (weak) and the Long-Term Issuer Credit Rating (Long-Term ICR) of ‘ccc’ of the company, with outlook of these Credit Ratings as negative.

The ratings reflect National’s balance sheet strength, which AM Best categorised as weak, as well as its marginal operating performance, neutral business profile and weak enterprise risk management.

The ratings also factor in a neutral impact from the company’s ultimate ownership by the Government of India.

National’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, deteriorated to a very weak level at fiscal year-end 2019 due to a combination of significant reserve strengthening for motor third-party liability business and continued large underwriting losses from several other product lines.

AM Best views the company’s operating performance as marginal, as evidenced by a five-year average return-on-equity ratio of -6.7 per cent (2015-2019). Underwriting performance has been persistently loss-making, with a five-year average combined ratio of 134.7 per cent (2015-2019) and a very weak combined ratio of 142.8 per cent for fiscal-year 2019.

The negative outlooks reflect AM Best’s expectation of continued pressure on National’s balance sheet strength and operating performance fundamentals over the near term.

More details at www.ambest.com.

-- BERNAMA

​FASHION AND MANGA EXHIBITIONS TO BE HELD IN NATIONAL ART CENTER, TOKYO, DURING SUMMER 2020

​FASHION AND MANGA EXHIBITIONS TO BE HELD IN NATIONAL ART CENTER, TOKYO, DURING SUMMER 2020

PRA HEALTH SCIENCES EXPANDS REMOTE CLINICAL STUDY SUPPORT WITH ITS MOBILE HEALTH PLATFORM DURING COVID-19 PANDEMIC

PRA HEALTH SCIENCES EXPANDS REMOTE CLINICAL STUDY SUPPORT WITH ITS MOBILE HEALTH PLATFORM DURING COVID-19 PANDEMIC

10 more Asian nations to receive medical supply donations from Jack Ma, Alibaba foundations

KUALA LUMPUR, March 23 -- The Jack Ma Foundation and Alibaba Foundation have announced plans to donate much-needed medical supplies to 10 more countries in Asia to fuel the global fight against COVID-19.

The governments of Afghanistan, Bangladesh, Cambodia, Laos, Maldives, Mongolia, Myanmar, Nepal, Pakistan and Sri Lanka will receive a donation totalling 1.8 million masks, 210,000 COVID-19 test kits and 36,000 pieces of protective clothing.

Essential medical equipment and supplies that include ventilators and forehead thermometers will also be donated, according to a statement.

“Go Asia! We will donate emergency supplies to 10 more countries across Asia. Delivering fast is not easy, but we’ll get it done!,” said Jack Ma, who announced the latest foundation pledges through his Twitter account.

Delivery of the donations will leverage the robust capabilities of the Electronic World Trade Platform (eWTP) to overcome the significant logistical and transportation challenge presented by the vast number of countries and their geographical remoteness.

Earlier, the two foundations announced donations of medical supplies to Malaysia, Indonesia, Thailand and the Philippines that also leveraged eWTP’s strong logistics capability for speedy and reliable transportation and delivery.

--BERNAMA

Cloudflare partners Alibaba Cloud to expand Bandwidth Alliance

KUALA LUMPUR, March 25 -- Cloudflare Inc, the security, performance and reliability company helping to build a better Internet, has expanded the Bandwidth Alliance by partnering with Alibaba Cloud, the data intelligence backbone of Alibaba Group.

The Bandwidth Alliance, launched in September 2018, is a group of forward-thinking cloud and networking companies committed to discounting or waiving data transfer fees (also known as bandwidth fees) for shared customers.

Currently, the Bandwidth Alliance includes 20 partners, all committed to providing the most performant and cost-efficient experience for mutual customers, according to a statement.

By joining the Bandwidth Alliance, customers using both Alibaba Cloud Object Storage, and Cloudflare products, will have their data egress fees waived outside mainland China if OSS products are purchased from alibabacloud.com.

“In addition to waiving the egress fee, Alibaba Cloud will also waive up to 100 million API requests, and 10TB image processing fees for all customers in regions outside of China after joining the Bandwidth Alliance,” said Alibaba Cloud senior director (Product Management), Alex Chen.

Cloudflare has long had an international presence, with co-location facilities in 200 cities across more than 90 countries, including China. It recently partnered with Cherry Servers, a provider of bare metal cloud services in Europe, as part of the Bandwidth Alliance.

More details at www.cloudflare.com.

-- BERNAMA

AM BEST WITHDRAWS CREDIT RATINGS OF THE ORIENTAL INSURANCE COMPANY LIMITED

SINGAPORE, March 23 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of The Oriental Insurance Company Limited (Oriental) (India). The outlook of these Credit Ratings (ratings) remains negative. Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

The ratings reflect Oriental’s balance sheet strength, which AM Best categorizes as very strong, as well as its marginal operating performance, neutral business profile and marginal enterprise risk management. The ratings also factor in a neutral impact from the company’s ultimate ownership by the Government of India.

Oriental’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), has exhibited a deteriorating trend over recent years, although it remained at the strongest level for fiscal year-end 2019 (FY 2019). This trend has been driven in part by notable reserve strengthening requirements and elevated new business growth, which have resulted in increased underwriting leverage over recent years. Furthermore, post-tax operating losses and unfavorable fair value movements from equity investments recorded directly in the balance sheet have eroded the company’s capital position. Oriental’s capital and surplus fell by 11% to INR 104 billion (USD 1.5 billion) in FY 2019, as compared with FY 2018. During the first nine months of FY 2020, the company’s capital and surplus declined further to INR 76 billion (USD 1.1 billion).
http://mrem.bernama.com/viewsm.php?idm=37006

Japan's Kagoshima City adds foreign language subtitles to 130th anniversary music video

KUALA LUMPUR, March 25 -- Japan’s Kagoshima City is presenting a music video in several foreign languages for overseas viewers to commemorate the city's 130th anniversary.

According to a statement, the music video has been released on YouTube to promote the city's attractions and new theme song, ‘Kagoshima into the Future’.

The song, released in November 2019, portrays some of the great points that showcase Kagoshima City, starting with the symbols of Kagoshima, the active volcano Sakurajima and the scenic and tranquil Kinko Bay.

Composed and arranged by Kagoshima-born Ryo Yoshimata, the song also conveys the city’s abundant nature, strength that spurred Japan’s modernisation and the splendour the city offers to international tourists.

 Watch the video at https://www.youtube.com/watch?v=pX2rzPTonD8 with English, Chinese (traditional & simplified), Korean, Thai and Vietnamese subtitles which are available.

-- BERNAMA

NATIONAL MUSEUM OF ART, OSAKA, ANNOUNCES EXHIBITION SCHEDULE OF 2020

OSAKA, Japan, Mar. 24, 2020 /Kyodo JBN-AsiaNet/ --

 

-Museum Offers Contemporary Art That Perfectly Encapsulates Osaka's Unique Blend of Cultures- The National Museum of Art, Osaka (NMAO) has announced its exhibition schedule of 2020, including exhibits of the "Masterpieces from the National Gallery, London." Photos: https://kyodonewsprwire.jp/release/202003117937?p=images The NMAO is a museum dedicated to contemporary art from around the world with a collection of about 8,000 works, among the largest in Japan. The Collection Exhibition, which is changed four times a year, showcases the finest selections from this wide range of collected works. Combining masters like Alberto Giacometti, Pablo Picasso, and Paul Cezanne with artists who have defined contemporary art history like Wolfgang Tillmans, Gerhard Richter, Jiro Takamatsu, and Yayoi Kusama, this is an exhibition space where there is always something new to discover. As Japan's second largest metropolis after Tokyo, Osaka is a bustling and energetic city. From local cuisine like "takoyaki" and "okonomiyaki" and colorful, unique fashion to standup comedy and theater, "bunraku" puppet plays, and entertainment spots like Universal Studios Japan, various cultures come together here to produce experiences. Tourists coming to take in Osaka's sights won't want to miss vibrant contemporary art from around the globe. While savoring the energy of the city, please enjoy world-class contemporary art that blends cultures transcending new and old, East and West. In addition to art, visitors can also appreciate Osaka's historic streetscapes with Nakanoshima River cruises departing from close to the museum, along with Osaka Castle, famous for its cherry blossoms in spring. Special exhibitions' schedule: -Danh Vo oV hnaD (April 4-June 14) The first large-scale solo exhibition by internationally acclaimed artist Danh Vo (b. 1975) at a Japanese museum -Masterpieces from the National Gallery, London (July 7-October 18) This large-scale exhibition of the gallery's collection will comprise a total of 61 works. World-renowned masterpieces by artists such as Vermeer, Rembrandt, and Van Gogh will be shown in Japan for the first time. -Museum Laboratory: The Intersection of the Senses (tentative title) (November 7-December 25) An introduction to Japanese artists who treat the exhibition space like a laboratory and pursue experimental methods of expression Audio guides (fee required) provide explanations in English, Chinese, and Korean. Website: http://www.nmao.go.jp/en/ Source: The National Museum of Art, Osaka

--BERNAMA

PRA Health Sciences launches COVID-19 Monitoring Program

KUALA LUMPUR, March 23 -- PRA Health Sciences recently announced the commercial availability of the COVID-19 Monitoring Program, a mobile app-driven, tiered initiative.

According to a statement, the programme allows employers, payers, providers and health systems to track the health and wellbeing of individuals who may be asymptomatic, exposed or diagnosed with COVID-19 during the pandemic.

Based on an individual’s COVID-19 disease status, they are assigned to one of three groups, namely the educational, quarantine and indepth monitoring programme.

By downloading the programme’s app on their personal mobile devices, participants will be able to report key health metrics related to COVID-19, such as body temperature, heart rate and pulse oximetry.

In addition, participants report on symptoms of COVID-19 like shortness of breath, fatigue and changes in coughing.

Participants also benefit from PRA’s nurse-led clinical call centre staff, who monitor the information reported via the app on a daily basis. The trained staff can address physical symptoms, as well as the social and psychological impacts they may be experiencing.

More details at https://www.careinnovations.com/contact/

-- BERNAMA

NIPPON EXPRESS' EAST ASIA REGION LAUNCHES BCP SOLUTIONS IN RESPONSE TO LOGISTICS RESTRICTIONS IMPOSED IN WAKE OF NOVEL CORONAVIRUS OUTBREAK

TOKYO, Mar. 23, 2020 /Kyodo JBN-AsiaNet/ --

The East Asia Region of Nippon Express Co., Ltd. has begun providing BCP solutions utilizing a full range of transport modes to cope with the various restrictions that have been imposed on logistics within China since the novel coronavirus outbreak began. Logo: https://kyodonewsprwire.jp/img/202003178120-O1-IfVk25Dv The spread of novel coronavirus infections has seriously impeded logistics in China, with the number of flights to/from and within the country reduced substantially, restrictions placed on truck traffic between provinces/cities and restrictions imposed on loading/unloading cargo at international railway stations within China. At the behest of its customers, Nippon Express provides BCP solutions by developing alternate routes and utilizing/combining various transport modes to help customers maintain their business operations. 1. "SEA&AIR Service from China to Europe via Japan" https://kyodonewsprwire.jp/attach/202003178120-O1-zn68ujnA.pdf 2. "Collaborative Service with China-Europe and China Domestic Railways" https://kyodonewsprwire.jp/attach/202003178120-O2-6tmR26JZ.pdf 3. "SEA&RAIL Service to/from Inland China Utilizing New International Land-Sea Trade Corridor (Eastbound Corridor, Southbound Corridor)" https://kyodonewsprwire.jp/attach/202003178120-O3-rfJqCdI0.pdf 4. "Service Utilizing Coastal Shipping Between Coastal Cities" https://kyodonewsprwire.jp/attach/202003178120-O4-1EqFBwBv.pdf Nippon Express remains committed to contributing to society through logistics as a global logistics company. Nippon Express website: http://www.nipponexpress.com/ Official LinkedIn Account: NIPPON EXPRESS GROUP https://www.linkedin.com/company/nippon-express-group/ Source: Nippon Express Co., Ltd. --BERNAMA

UNIVERSAL PROTOCOL ALLIANCE LISTS USD, EURO STABLECOINS AND UPT ON BITTREX GLOBAL

USD and Euro Stablecoins minted by UP Alliance and provides on-chain transparency

VADUZ, Liechtenstein, March 20 (Bernama-BUSINESS WIRE) -- The Universal Protocol Alliance, a coalition of leading blockchain organizations including Bittrex Global, Cred, Uphold, Blockchain at Berkeley, and CertiK, today announced the listing of three tokens on Bittrex Global: the Universal Dollar (UPUSD), a USD-pegged stablecoin collateralized 1:1 with the US Dollar; The Universal Euro (UPEUR), a EURO-pegged stablecoin collateralized 1:1 with the EURO, and the Universal Protocol Token (UPT), the Alliance utility token that will offer holders valuable benefits from Alliance members. Bittrex Global will be offering a lower fee structure for UPT holders.

The Universal Dollar and Universal Euro: Transparency, Low Fees, and Returns

The Universal Dollar and Euro stablecoins are aimed at users looking for an alternative to existing stablecoin products, and those looking for low volatility and a competitive annual rate of return. In countries with high inflation or limited access to traditional banking, users can now lend their EURO and USD-pegged assets and earn interest. To earn a return, users can stake their UPUSD via the CredEarn application on Uphold. In developed countries, UPUSD and UPEUR provide a transparent and secure way for users to store their digital assets held on a 1:1 basis licensed and insured banks.

“We’re thrilled to join an Alliance of like-minded blockchain companies dedicated to incubating blockchain-based technologies and helping projects like the Universal Dollar and Universal Euro go mainstream,” said Tom Albright, CEO of Bittrex Global. “The blockchain industry needs technology that can build trust and transparency, and the platform the Alliance has built should help drive mass utility and adoption.”

“Unlike other Stablecoins, the Alliance seeks to flood the value substantiation process with daylight so it doesn’t operate as a black box. We provide customers verifiable confidence that they are buying a fully-reserved Universal Dollar or Euro,” said Dan Schatt, Chairman of the Universal Protocol Alliance.

UPUSD and UPEUR will trade freely on Bittrex Global. For those wishing to mint or redeem their stablecoins using USD or EUROs, customers may open an account at Uphold, a member of the Universal Protocol Alliance.

The technology underlying the UP Platform also enables the Universal Dollar to inherit some unique attributes, including:

Key recovery: Users can recover funds should they lose their Private Keys. The key will be split into multiple shares and the corresponding address embedded into the wallet. When two out of three constituents (wallet owner and one of the third parties) agree to recover the shares, the assets can be ‘called’ from the lost wallet.

Inheritability: Users can nominate beneficiaries who may 'call' the assets after prolonged account dormancy. The exact period of dormancy and the address will be configured during wallet set up

Detachability: Users can 'delegate' control over their assets to a centralized exchange in order to facilitate a temporary trading session. After a session, the user can immediately take back custody and hold them in the safety of their private wallet.

Dynamic code generation: The Universal Protocol Platform employs smart contracts to generate tokens in a generic fashion. If you trust one UP token instantiation, you can trust the code integrity of all UP token instantiations since the underlying code is dynamically generated in the same manner.

“This is the first of many tokenized digital assets we intend to introduce that will facilitate the instant and seamless conversion of different forms of value,” said JP Thieriot, Co-founder of the Alliance. “In doing so, the UP Platform will unlock the vast and untapped full potential of blockchain to transform how individuals and businesses store and transfer value, with Universal Tokens representing the next generation of digital money.”

The Universal Protocol Alliance: Mass Adoption Through Collaboration

The Universal Protocol (UP) Alliance is a growing coalition of the biggest and most respected organizations in the world of blockchain that have united around a new universal transparent reserve standard that aims to attract the next 100 million users to cryptocurrency. The combined expertise of each member organization has enabled the Universal Protocol Platform to create unique digital currency products designed to appeal to mainstream users on a massive scale.

The Universal Protocol Platform allows for the minting, custody, and storage of digital assets that allow for better digital asset products, and the introduction of a set of safeguards required for the mainstream adoption of cryptocurrency.

About the Universal Protocol Alliance

A coalition of cryptocurrency companies and blockchain pioneers, the Universal Protocol Alliance seeks to accelerate the adoption of blockchain as a mainstream financial technology by making digital assets more accessible, secure and convenient to own.

Learn more at: www.universalprotocol.io

About Bittrex Global

Bittrex Global has one of the most secure trading platforms and digital wallet infrastructures in the world where customers can access exciting new products.  Built on Bittrex’s cutting-edge technology, Bittrex Global provides a high-level experience for professional and novice customers alike.  Bittrex Global is headquartered in the Principality of Liechtenstein near the financial center of Zurich.

Learn more at: https://global.bittrex.com/

View source version on businesswire.com:
https://www.businesswire.com/news/home/20200319005607/en/

Contact

Joseph Hunt
joseph@blockpr.io

Source : Universal Protocol Alliance

--BERNAMA