January 20, 2021

Info IEC

Business & Finance Information

Richard Branson’s Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, takes off for a key drop test of its high-altitude launch system for satellites from Mojave, California, July 10, 2019.

Mike Blake | Reuters

Virgin Orbit, the rocket company founded by billionaire Richard Branson, successfully put its first satellites into space using its novel air launch system.

The California-headquartered company said that 10 mini-satellites had been carried into space by the same rocket, which was launched from the wing of an old Boeing 747 jumbo jet as it flew over the Pacific Ocean.


Tue, Jan 19, 2021 – 1:12 PM

RECENT moves by tech firms to acquire small Indonesian banks will add more colour to Asean’s financing landscape, but are unlikely to pose a material challenge to the biggest incumbent lenders in the near term, said Fitch Ratings.

This comes as the tech firms are first likely to target underserved or niche segments of the market which traditional banks tend to neglect, it added in the report.

In the past two months, there had been separate reports on consumer Internet firm Sea planning to acquire Bank Kesejahteraan Ekonomi (BKE), and mulling the purchase

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BEIJING—China’s economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year.

China’s ability to expand, even as the world struggled to control a deadly virus that has killed more than two million people, underscores the country’s success in largely taming the coronavirus within its borders and further cements its place as the dominant economy in Asia.

China’s growth makes it an outlier among large economies. The World Bank expects the U.S. economy to contract by

Mon, Jan 18, 2021 – 2:37 PM

THE Monetary Authority of Singapore (MAS) on Monday issued revised technology risk management guidelines amid “clear indication” of a worsening cyberthreat environment.

This comes after the recent spate of cyberattacks on supply chains, which targeted multiple IT service providers through the exploitation of widely-used network management software, said the regulator in a statement.

MAS said the revised guidelines focus on addressing technology and cyber risks in an environment of growing use by financial institutions (FIs) of cloud technologies, application programming interfaces and rapid software development.

The guidelines outlined enhanced risk mitigation strategies for

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Thu, Jan 14, 2021 – 4:39 PM

THE Monetary Authority of Singapore (MAS) on Thursday announced the appointment of Leong Sing Chiong as deputy managing director (Markets & Development).

The appointment takes effect on Feb 1, 2021.

Mr Leong, 51, will oversee the Markets and Investment Group, which conducts money-market and foreign-exchange operations, issues Singapore government securities and manages Singapore’s official foreign reserves.

He will also have oversight of MAS’ Fintech and Innovation Group, as well as the Development and International Group, which promotes Singapore as an international financial centre.

He takes over from Jacqueline Loh, deputy managing director (Markets

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In Personal Board of Directors, top business leaders talk about the people they turn to for advice, and how those people have shaped their perspective and helped them succeed. Previous installments from the series are here.

As a young Ph.D. student, Erika James wasn’t sure she wanted to work in academia. Three decades later, she sits atop one of the nation’s most prestigious business schools.

In 2020 Dr. James became dean of the Wharton School at the University of Pennsylvania, becoming the first woman and person of color to hold that post in Wharton’s 140-year history.

“What’s salient for