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Prominent Utah investor’s US$150 million fund eyes real estate projects in secondary US cities that promote social good

Real estate moguls, banks and money managers are rushing to capitalise on a new US tax break rewarding investments in poor communities. Now, one of the biggest names in impact investing is aiming to prove the perks are about more than profits.Jim Sorenson, a prominent Utah entrepreneur, investor and businessman, plans to announce on Monday that Catalyst, a private equity firm he helped found, is raising US$150 million to invest in opportunity zones. The group’s first fund, which Sorenson is… Source link

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Singapore 

Fake news law covers closed platforms like chat groups and social media groups, says Senior Minister of State for Law, Singapore News

A proposed law to fight fake news will also cover closed communications platforms – such as chat groups and social media groups – and even those with end-to-end encryption that only allows senders and recipients to read the messages being exchanged. Senior Minister of State for Law Edwin Tong said in Parliament on Tuesday (May 7) during the debate on the Protection from Online Falsehoods and Manipulation Bill that closed platforms, the likes of chat groups and social media groups, serve as “a public megaphone” as much as open ones.…

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Singapore 

‘Influencer’ PM Lee avoided social media in the past because of what dad Lee Kuan Yew told him, Singapore News

1.2 million. That’s the number of followers Lee Hsien Loong commands on Facebook. This was what prompted interviewers Kym Ng and Evelyn Lam to declare Singapore’s prime minister an “influencer”. Although Lee was quick to qualify that “1.2 million accounts [do not mean] they’re all fans” during a Mandarin interview shown on Mediacorp Channel 8 last night (April 28), it’s fair to say the country’s leader is popular, at least on social media. On Instagram, Lee has 383,000 followers and his posts on both platforms are usually well received. His…

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Why it makes good business sense to focus on environmental, social and corporate governance practices

“To do good and do well” has been the de facto mantra for corporate social responsibility.To care about one’s community is a big part of how businesses present themselves to their customers and the public these days. It shows they are not only here to take, but also to give back.Yet it’s now just as important for companies to demonstrate they are ethical entities with a conscience to investors.This greater emphasis on the holistic approach to business is reflected in the emergence of… Source link

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China 

China’s central bank denies collecting utilities records in attempt to ease concerns over social credit system

An individuals utility bill payment history will not be included as part of an upgrade to the credit monitoring system operated by China’s central bank, with The People’s Bank of China vowing to maintain the quality of data in an apparent attempt to ease concerns that the system is becoming too intrusive into the lives of the population.The central bank has not yet collected any utilities data, although the new system will have the ability to add data concerning water, power and… Source link

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China 

China’s social credit system stops the sale of over 26 million plane and train tickets

China has restricted the sale of 20.47 million plane tickets and 5.71 million high-speed train tickets as punishment for failing to repay debts or conducting other “untrustful” behaviour, according to data from National Development and Reform Commission.Millions of individuals and businesses have been labelled as untrustworthy on a growing blacklist compiled by China’s courts, banning or restricting them from any number of activities, including accessing financial markets or travelling by air… Source link

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China 

Chinese police investigating early April Fools’ Day social media financial rumour

Chinese police are investigating an unsubstantiated social media rumour concerning monetary policy easing at the request of the central bank, reflecting Beijing’s resolve to battle fake financial news at a time when the government is increasingly sensitive in managing market expectations.The rumour, which spread on Chinese social media including WeChat and Weibo on Friday, claimed that the People’s Bank of China (PBOC) would cut the required reserve ratio the following Monday. The PBOC denied… Source link

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JD.com pushes further into smart cities, offering social credit and AI-powered tools to local governments in China

JD.com has launched a big data-powered service to give social credit scores to individuals, businesses and potential investors for local governments in China, as the e-commerce company ventures further into the smart cities space.Unveiling a new brand, JD iCity, the Beijing-based company said on Thursday that it wants to double down on the intelligent city business by providing big data and artificial intelligence-powered tools to local governments. The services can be used to build social… Source link

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Vietnam 

Hà Nội proposes tightened management of social network businesses – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under stricter management. — Photo vietbao.vn Viet Nam News HÀ NỘI — The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under the same management as e-commerce websites. E-commerce websites that violate regulations may be shut down under the law and have their domain names revoked. In addition, there should be close co-ordination between…

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Vietnam 

Social enterprises in need of more support – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – Detailed support policies are needed to help develop social enterprises, experts have said. Nguyễn Thị Minh Thảo, head of Business Environment and Competitiveness Research Department under the Central Institute for Economic Management (CIEM), said that Việt Nam had a number of support policies for social enterprises. However, most were too general and it was difficult for social enterprises to benefit from them. “There are already support policies. But they must be made more detailed,” Thảo stressed. She pointed the six…

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