Singapore 

Prudential sues former agency leader for up to $2.5b for mass exodus of 244 agents, Singapore News

SINGAPORE – Life insurer Prudential Assurance Company Singapore is suing former agency leader Peter Tan Shou Yi after 244 of its agents jumped ship to rival firm Aviva, saying he offered loyalty bonuses to those who left with him and had agents sign non-disclosure agreements while he planned the move. In a High Court trial that started on Tuesday (July 16), Prudential is claiming “significant and long-lasting loss” over alleged poaching by Mr Tan, which resulted in 70,000 policies left with no agents, in the first litigation fallout from such…

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Cyberport has a plan to make Hong Kong a regional leader in e-sports

Cyberport launched a new, retractable e-sports arena on Tuesday during the opening ceremony of its annual Digital Entertainment Leadership Forum, themed this year on digital gaming and e-sports. The opening ceremony was officiated by Nicholas Yang, Secretary for Innovation and Technology, and by Cyberport chief executive Peter Yan.The HK$50 million (US$6.4 million) e-sports arena, designed and built by Hong Kong based start-ups such as Kowloon eStadium, seats around 400 people, according to Roy… Source link

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Singapore 

Former City Harvest Church leader Tan Ye Peng released from jail, Singapore News

SINGAPORE – Former City Harvest Church (CHC) leader Tan Ye Peng, who was jailed for his role in the largest case of misuse of charitable funds in Singapore’s history, has been released from prison. The Singapore Prison Service confirmed with The Straits Times on Saturday (June 8) that Mr Tan, 46, was released from custody on June 1 after taking remission into account. The former deputy senior pastor was sentenced to three years and two months’ jail for misappropriating millions in church funds. He started his sentence on April 21,…

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‘Hello, welcome to Uber Copter’ – ride-hailing leader to offer chopper service in New York starting July

Uber Technologies is testing a helicopter service in New York City, according to documents outlining the programme obtained by Bloomberg.Passengers will be able to use the Uber app to book a flight through the service, called Uber Copter, the documents show. Tests flights took off from a Manhattan heliport near Wall Street to John F. Kennedy International Airport.After Bloomberg asked Uber for comment on Wednesday, The New York Times published a story about the programme. It says customers will… Source link

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Chinese electric carmaker Xpeng the latest to jump into ride-hailing despite ongoing losses at market leader Didi

Chinese electric vehicle start-up Xpeng Motors is making a foray into the country’s ride-hailing market, a move that will intensify competition in a business that has yet to deliver profits for industry giants Didi Chuxing and Uber.Alibaba-backed Xpeng, which received a ride-hailing operation licence from Guangzhou authorities on Monday, could start trial services as early as this month, according to people familiar with the matter.“It will be an important component to Xpeng’s ecosystem, with… Source link

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Vietnam 

City leader urges resumption of delayed projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Thủ Thiêm New Urban Area in HCM City. City authorities have urged agencies to speed the implementation of a number of long-delayed investment projects, mostly property projects, including Thủ Thiêm New Urban Area. VNA/VNS Photo Quang Nhựt    HCM CITY — The chairman of HCM City People’s Committee Nguyễn Thành Phong has urged agencies to speed up implementation of a number of investment projects, mostly property projects that have been delayed for long periods.    Speaking yesterday at a meeting reviewing the city’s socio-economic development in the first four months of the year,…

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Singapore 

Court dismisses appeal by youth gang leader who raped teen, Singapore News

SINGAPORE – The former leader of a youth gang, who was sentenced to 28 years’ jail and 24 strokes of the cane last year for raping a teenage girl, started serving his prison term on Wednesday (May 8) after the Court of Appeal dismissed his appeal against conviction. During his appeal, the lawyer acting for Koh Rong Guang, 26, pointed to inconsistencies in the victim’s account, including the number of times she was raped, to argue that the conviction should be overturned. However, the apex court found that there was…

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Vietnam 

Tech key to position VN as a manufacturing leader – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Wooden furniture produced at the Quảng Ngãi Province-based Hoàn Vũ JSC to export to Sweden, the US and Germany. — VNA/VNS Photo Vũ Sinh HÀ NỘI – Vietnamese firms should hasten technological development to position the country as a global manufacturing centre, Swedish experts said at a seminar on Tuesday. According to Jennie Cato from the Swedish Association for Engineering Industries, technology had progressed and offered a broad range of advantages for the world’s socio-economic development. In Sweden, at least 50 billion krona (about US$5.2 billion) was spent each year for 2010-17 on technology research and development (R&D), making…

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Vietnam 

Government leader requests steps to develop automobile manufacturing – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An automobile manufacturing line of the Trường Hải Automobile Joint-Stock Company at the Chu Lai-Trường Hải Industrial Complex in the central province of Quảng Nam. — VNA/VNS Photo Vũ Sinh HÀ NỘI — Prime Minister Nguyễn Xuân Phúc requested that ministries, sectors and localities adjust their policies to speed the development of the automobile and support industries. In a report recently released by the Government Office – based on the proposals of the northern province of Ninh Bình, an automobile manufacturing hub – PM Phúc asked the ministries of Trade and Industry, and…

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