You can color-code your mail by sender, to make it easier to scan your
Inbox for mail from specific senders. When you receive mail from those
senders, messages will appear highlighted in a color of your choice in
you Inbox and other mail folders.
This demonstration shows you how to set the preference to color-code mail by sender, and gives you some tips and options. |
Saturday, February 4, 2012
Color-coding mail to help identify senders
Monday, January 30, 2012
Number of registered property agents down 11% since new rules
Number of registered property agents down 11% since new rules
Posted: 30 January 2012 1606 hrs
SINGAPORE : The number of property agents registered with the Council for Estate Agencies (CEA) has fallen by nearly 11 per cent since new rules kicked in a year ago.
As of January 1, there are some 30,600 real estate agents licensed to practice, down from 34,300 last January.
There are also fewer property agencies in business - down by 5 per cent to less than 1,500.
The estate agency watchdog said property agents who did not continue with their registration were part-timers who opted to focus on their full-time jobs, or had found a full-time job.
Giving an update on the 2,700 new agents who joined the industry last year, the council said eight in 10 have tertiary education.
Currently, only five in 10 existing agents have tertiary education.
Apart from passing a mandatory examination, registered property agents also have to undergo six hours of compulsory professional development course to keep abreast of policy changes.
Some industry players said new agents face a tough time juggling this and closing property deals.
PropNex director David Poh said: "In the real estate industry, the first year is a very tough and important year. For any new agent who joins the industry, you have to go for courses, you go for exams.
"Then you go for further training, prospect for clients, and buy and sell for clients. And many times, your first deal will come six or nine months down the road. For many agents, you probably won't see any income until about a year later. So it is quite common for agents to leave within the first year."
Commenting on the Council's first year report card in his blog, National Development Minister Khaw Boon Wan said the CEA has had a good year and has asked the Council to press ahead on several fronts.
Mr Khaw said he has tasked CEA firstly to see how the Estate Agency Work Regulations can be further refined. Secondly, the Council could look at how to improve on industry development, especially in Continuing Professional Development and ethics.
Mr Khaw also said he would like to see more done in the area of consumer education so that consumers know their rights and responsibilities, and how to conduct sale/purchase transactions with due diligence.
Lastly, Mr Khaw would like the Council to continue to consult and address the industry's concerns. For example, Mr Khaw said that the Ministry is reviewing the CEA-Dispute Resolution Mechanism to see how the Small Claims Tribunals can be incorporated to facilitate resolution.
Last year, the Council handled over 1,400 complaints. Out of the complaints received, CEA had closed more than 75 per cent of the cases. A handful of cases ended up in court or had to face disciplinary hearings.
- CNA/cc/ms
- wong chee tat :)
Posted: 30 January 2012 1606 hrs
SINGAPORE : The number of property agents registered with the Council for Estate Agencies (CEA) has fallen by nearly 11 per cent since new rules kicked in a year ago.
As of January 1, there are some 30,600 real estate agents licensed to practice, down from 34,300 last January.
There are also fewer property agencies in business - down by 5 per cent to less than 1,500.
The estate agency watchdog said property agents who did not continue with their registration were part-timers who opted to focus on their full-time jobs, or had found a full-time job.
Giving an update on the 2,700 new agents who joined the industry last year, the council said eight in 10 have tertiary education.
Currently, only five in 10 existing agents have tertiary education.
Apart from passing a mandatory examination, registered property agents also have to undergo six hours of compulsory professional development course to keep abreast of policy changes.
Some industry players said new agents face a tough time juggling this and closing property deals.
PropNex director David Poh said: "In the real estate industry, the first year is a very tough and important year. For any new agent who joins the industry, you have to go for courses, you go for exams.
"Then you go for further training, prospect for clients, and buy and sell for clients. And many times, your first deal will come six or nine months down the road. For many agents, you probably won't see any income until about a year later. So it is quite common for agents to leave within the first year."
Commenting on the Council's first year report card in his blog, National Development Minister Khaw Boon Wan said the CEA has had a good year and has asked the Council to press ahead on several fronts.
Mr Khaw said he has tasked CEA firstly to see how the Estate Agency Work Regulations can be further refined. Secondly, the Council could look at how to improve on industry development, especially in Continuing Professional Development and ethics.
Mr Khaw also said he would like to see more done in the area of consumer education so that consumers know their rights and responsibilities, and how to conduct sale/purchase transactions with due diligence.
Lastly, Mr Khaw would like the Council to continue to consult and address the industry's concerns. For example, Mr Khaw said that the Ministry is reviewing the CEA-Dispute Resolution Mechanism to see how the Small Claims Tribunals can be incorporated to facilitate resolution.
Last year, the Council handled over 1,400 complaints. Out of the complaints received, CEA had closed more than 75 per cent of the cases. A handful of cases ended up in court or had to face disciplinary hearings.
- CNA/cc/ms
- wong chee tat :)
Sunday, January 22, 2012
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Wednesday, December 21, 2011
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UWCSEA opens new East Campus
UWCSEA opens new East Campus
Posted: 08 December 2011 2054 hrs
SINGAPORE : The United World College South East Asia (UWCSEA) has opened the doors to its new East Campus.
Its first campus in Dover opened in 1971.
Located in Tampines, the new campus also hosts the newly-established Centre for International Education (CIE).
It will host educational conferences and workshops, which aim to make Singapore a regional hub for international educators and thinkers.
The number of scholarships awarded to international students will also increase from nearly 70 to 100.
The campus has also been presented the Singapore Building and Construction Authority's highest award - the Green Mark Platinum award - in recognition of its sustainable approach to construction.
The school has installed the world's largest solar air conditioning and hot water system, worth some 5 million euros.
Charles Ormiston, Chair of the Board of Governors of UWCSEA, said: "With the opening of the East Campus, the third strand of our organisation, we now have the scale, resources and diversity to multiply our impact on students, on the local community, on the world of education and on the thousands of people every year who we support through our global concerns projects."
- CNA/ms
- wong chee tat :)
Posted: 08 December 2011 2054 hrs
SINGAPORE : The United World College South East Asia (UWCSEA) has opened the doors to its new East Campus.
Its first campus in Dover opened in 1971.
Located in Tampines, the new campus also hosts the newly-established Centre for International Education (CIE).
It will host educational conferences and workshops, which aim to make Singapore a regional hub for international educators and thinkers.
The number of scholarships awarded to international students will also increase from nearly 70 to 100.
The campus has also been presented the Singapore Building and Construction Authority's highest award - the Green Mark Platinum award - in recognition of its sustainable approach to construction.
The school has installed the world's largest solar air conditioning and hot water system, worth some 5 million euros.
Charles Ormiston, Chair of the Board of Governors of UWCSEA, said: "With the opening of the East Campus, the third strand of our organisation, we now have the scale, resources and diversity to multiply our impact on students, on the local community, on the world of education and on the thousands of people every year who we support through our global concerns projects."
- CNA/ms
- wong chee tat :)
Saturday, December 17, 2011
Friday, December 16, 2011
Thursday, December 15, 2011
Wednesday, December 14, 2011
Employers rank preferred business schools in Asia-Pacific
Employers rank preferred business schools in Asia-Pacific
Posted: 09 December 2011 1225 hrs
SINGAPORE: For the third year running, the INSEAD Asia Campus in Singapore has been ranked the business school which Asia-Pacific employers most prefer to recruit from.
The Indian Institute of Management, Ahmedabad was ranked second while the Melbourne Business School at the University of Melbourne took third spot.
The NUS Business School ranked fourth.
The QS Global 200 Business Schools Report 2012, ranks 200 full-time MBA business schools by region and specialisation.
Votes from more than 12,000 employers worldwide that recruit internationally are taken into account.
Employers from Asia-Pacific accounted for nearly a quarter of the responses coming from sectors such as consulting and professional services, banking and financial services, as well as HR and recruitment.
Singapore employers named in the QS Report included the Ministry of Trade and Industry, Citigroup, Standard Chartered Bank, Accenture, Unilever and Shell.
- CNA/cc
- wong chee tat :)
Posted: 09 December 2011 1225 hrs
SINGAPORE: For the third year running, the INSEAD Asia Campus in Singapore has been ranked the business school which Asia-Pacific employers most prefer to recruit from.
The Indian Institute of Management, Ahmedabad was ranked second while the Melbourne Business School at the University of Melbourne took third spot.
The NUS Business School ranked fourth.
The QS Global 200 Business Schools Report 2012, ranks 200 full-time MBA business schools by region and specialisation.
Votes from more than 12,000 employers worldwide that recruit internationally are taken into account.
Employers from Asia-Pacific accounted for nearly a quarter of the responses coming from sectors such as consulting and professional services, banking and financial services, as well as HR and recruitment.
Singapore employers named in the QS Report included the Ministry of Trade and Industry, Citigroup, Standard Chartered Bank, Accenture, Unilever and Shell.
- CNA/cc
- wong chee tat :)
Hybrid HDD for tablets & mobile devices coming soon
Hybrid HDD for tablets & mobile devices coming soon
Posted: 14 December 2011 1016 hrs
SINGAPORE: Singapore's Data Storage Institute (DSI) has sealed a crucial partnership with a leading maker of hard disk drive components, Seiko Instruments Inc. (SII).
They'll work on a hybrid hard disk drive (HDD) that's expected to enhance the next generation of media tablets and mobile computing devices that can handle increased capacity and are more reliable.
The two sides signed a research collaboration to develop pivot assembly for 2.5 inch, 5mm thickness, hybrid hard disk drive (HDD).
The deal signals a major step towards manufacturability of the DSI's 5mm thin drive target.
SII, known for its strong expertise in high performance miniature ball bearing and pivot cartridge design, and DSI will put in significant amount of resources to bring the design of the pivot cartridge towards manufacturing.
The pivot assembly is an important component within the HDD which supports the movement of the actuator arm that carries the integrated system of read/write sensors over the media.
DSI's 5mm hybrid HDD architecture is targeted at addressing the current limitations of both flash-based SSDs as well as the conventional HDD, in areas such as portability, data storage reliability, storage capacity, power consumption and cost.
"Our partnership with SII is a step towards materialising the 5mm hybrid hard disk drive. More importantly, it is a recognition from the industry on the viability and potential of 5mm hybrid hard disk drive," said Dr Pantelis Alexopoulos, Executive Director of DSI.
"The development of pivot assembly for 5mm thickness HDD is very challenging. However, with DSI's expertise and strengths in hard disk drive. I strongly believe that our collaboration with DSI will be a resounding success and therefore make a positive contribution in the growth of HDD industry," said Mr Masao Kasuga, Senior Vice President of SII.
The Data Storage Institute (DSI) is a member of the Agency for Science, Technology and Research (A*STAR), which is the lead agency for fostering world-class scientific research and talent for a vibrant knowledge-based and innovation-driven Singapore.
DSI's vision is to be a vital node in nurturing research talents and capabilities for world-class R&D in next-generation storage technologies.
- CNA/ck
- wong chee tat :)
Posted: 14 December 2011 1016 hrs
SINGAPORE: Singapore's Data Storage Institute (DSI) has sealed a crucial partnership with a leading maker of hard disk drive components, Seiko Instruments Inc. (SII).
They'll work on a hybrid hard disk drive (HDD) that's expected to enhance the next generation of media tablets and mobile computing devices that can handle increased capacity and are more reliable.
The two sides signed a research collaboration to develop pivot assembly for 2.5 inch, 5mm thickness, hybrid hard disk drive (HDD).
The deal signals a major step towards manufacturability of the DSI's 5mm thin drive target.
SII, known for its strong expertise in high performance miniature ball bearing and pivot cartridge design, and DSI will put in significant amount of resources to bring the design of the pivot cartridge towards manufacturing.
The pivot assembly is an important component within the HDD which supports the movement of the actuator arm that carries the integrated system of read/write sensors over the media.
DSI's 5mm hybrid HDD architecture is targeted at addressing the current limitations of both flash-based SSDs as well as the conventional HDD, in areas such as portability, data storage reliability, storage capacity, power consumption and cost.
"Our partnership with SII is a step towards materialising the 5mm hybrid hard disk drive. More importantly, it is a recognition from the industry on the viability and potential of 5mm hybrid hard disk drive," said Dr Pantelis Alexopoulos, Executive Director of DSI.
"The development of pivot assembly for 5mm thickness HDD is very challenging. However, with DSI's expertise and strengths in hard disk drive. I strongly believe that our collaboration with DSI will be a resounding success and therefore make a positive contribution in the growth of HDD industry," said Mr Masao Kasuga, Senior Vice President of SII.
The Data Storage Institute (DSI) is a member of the Agency for Science, Technology and Research (A*STAR), which is the lead agency for fostering world-class scientific research and talent for a vibrant knowledge-based and innovation-driven Singapore.
DSI's vision is to be a vital node in nurturing research talents and capabilities for world-class R&D in next-generation storage technologies.
- CNA/ck
- wong chee tat :)
More Indian companies showing interest in SGX listing
More Indian companies showing interest in SGX listing
By Lynda Hong | Posted: 13 December 2011 2006 hrs
SINGAPORE : Royal Bank of Scotland has reported an increase in interest by Indian companies to list their shares on the Singapore Exchange (SGX).
The number of Indian listings on the SGX lags far behind those from China but some big deals may be in the works.
Shares of Indian companies must be listed in their home country before they can list in Singapore.
Theoretically, that makes a pool of 18,000 potential SGX candidates.
SGX has continued to see strong interest in Indian companies listing REITs and Business Trusts.
There are now some 10 Indian Global Depository Receipts (GDRs) listed on SGX.
But investors are shy about investing in GDRs as they are not stocks, but certificates representing a number of underlying shares registered in another country.
Dilip Kadambi, Head, Equity Capital Markets, India and SEA, said: "It would probably be more ideal to have an equity listing, a straight stock listing, rather than have a GDR listing where you'd find the liquidity vanish and a lot of fund managers...don't like illiquid stuff, illiquid counters."
Mr Kadambi says in the last year interest has grown for Indian companies to list on the SGX with possible deals ranging from between 15 million to 600 million US dollars.
However there are only three Indian listings on the SGX thus far.
The number pales against the 148 listings of Chinese firms (S-chips) which comprises 19 percent of SGX listings although investor appetite for S-chips remains clouded by scandal.
Eric Ong, Analyst, Kim Eng Research, said: "We do see less Chinese listings in the pipeline, especially given the low valuation it can command in the market. This is because of the negative perception it has been getting from the investors right now because there's been a few corporate scandals recently. "
Over at Deloitte Singapore, there has been fewer IPO queries compared to the second half of last year (at fewer than ten).
Still, half of them are from China.
Dr Ernest Kan, Head, Global IFRS & Offerings Services, Deloitte Singapore & Southeast Asia, said: "The Chinese entities are still very hungry because they haven't sought their listing yet, locally. To have another market here out in Singapore, they would still be very keen to come. Whereas for the Indian companies, they would have assess to see if they can tap from their domestic markets, then they will probably stay put. But if they can't, of course then they would look to Singapore."
To get more Indian companies to list in Singapore, the SGX has appointed Neena Prasad as Senior Vice President and Head of Listings (India).
She has led SGX's efforts to attract Indian listings since 1st November although this is an uphill task as the sovereign debt crisis has made many wait for more certainty before listing their stock.
- CNA/ch
- wong chee tat :)
By Lynda Hong | Posted: 13 December 2011 2006 hrs
SINGAPORE : Royal Bank of Scotland has reported an increase in interest by Indian companies to list their shares on the Singapore Exchange (SGX).
The number of Indian listings on the SGX lags far behind those from China but some big deals may be in the works.
Shares of Indian companies must be listed in their home country before they can list in Singapore.
Theoretically, that makes a pool of 18,000 potential SGX candidates.
SGX has continued to see strong interest in Indian companies listing REITs and Business Trusts.
There are now some 10 Indian Global Depository Receipts (GDRs) listed on SGX.
But investors are shy about investing in GDRs as they are not stocks, but certificates representing a number of underlying shares registered in another country.
Dilip Kadambi, Head, Equity Capital Markets, India and SEA, said: "It would probably be more ideal to have an equity listing, a straight stock listing, rather than have a GDR listing where you'd find the liquidity vanish and a lot of fund managers...don't like illiquid stuff, illiquid counters."
Mr Kadambi says in the last year interest has grown for Indian companies to list on the SGX with possible deals ranging from between 15 million to 600 million US dollars.
However there are only three Indian listings on the SGX thus far.
The number pales against the 148 listings of Chinese firms (S-chips) which comprises 19 percent of SGX listings although investor appetite for S-chips remains clouded by scandal.
Eric Ong, Analyst, Kim Eng Research, said: "We do see less Chinese listings in the pipeline, especially given the low valuation it can command in the market. This is because of the negative perception it has been getting from the investors right now because there's been a few corporate scandals recently. "
Over at Deloitte Singapore, there has been fewer IPO queries compared to the second half of last year (at fewer than ten).
Still, half of them are from China.
Dr Ernest Kan, Head, Global IFRS & Offerings Services, Deloitte Singapore & Southeast Asia, said: "The Chinese entities are still very hungry because they haven't sought their listing yet, locally. To have another market here out in Singapore, they would still be very keen to come. Whereas for the Indian companies, they would have assess to see if they can tap from their domestic markets, then they will probably stay put. But if they can't, of course then they would look to Singapore."
To get more Indian companies to list in Singapore, the SGX has appointed Neena Prasad as Senior Vice President and Head of Listings (India).
She has led SGX's efforts to attract Indian listings since 1st November although this is an uphill task as the sovereign debt crisis has made many wait for more certainty before listing their stock.
- CNA/ch
- wong chee tat :)
Singapore hotels expect strong bookings for corporate events next year
Singapore hotels expect strong bookings for corporate events next year
By Yvonne Chan | Posted: 13 December 2011 2243 hrs
SINGAPORE : Corporate events bookings at Singapore hotels have increased this holiday season and the Singapore Tourism Board (STB) says the outlook for next year is also positive despite the economic slowdown.
In Singapore, hotels are adorned in Christmas livery and preparations for year-end festivities are in full-swing.
Meetings, Incentives, Conventions and Exhibitions (MICE) bookings have had a strong showing so far.
A survey of hotels in Singapore have shown that corporate bookings for the year 2011 have actually increased despite the global economic uncertainty and they are seeing healthy demand from both locals and overseas companies across a broad range of industries.
Figures gathered by Channel NewsAsia show growth in corporate bookings ranging from 12 to 50 percent compared to last year.
Colin Wang, General Manager, Grand Copthorne Waterfront Hotel, said: "2011 has been a good year for most businesses. I think you know it's only right that companies are still spending to thank some of their clients. So we're still seeing a lot of dinner and dance (D&D) still to come. In fact for December, the numbers are looking good, with combination of weddings and D&Ds. But of course, businesses will continue to ask for the usual value-added. We've just got to be a bit more creative in packaging things with a good proposition."
Elaine Kum, Director of Marketing, Marriott Singapore, said: "If they need to organise meetings in a hotel, they will go ahead with that. If they have a budget, they'll probably need to select a different category of hotel to match their budget."
According to STB figures, business travellers on the average form about a third of visitor arrivals to Singapore and contribute more than 30 percent of tourist spending.
The STB says the outlook for corporate MICE bookings in 2012 remains optimistic, with demand from Asia to remain strong.
With the Singapore Airshow and International Furniture Fair among the numerous events lined up for 2012, hoteliers are 'lighting up' in anticipation.
Colin Wang said: "Growth forecast is expected to be targeting 5 to 10 percent for 2012...We have to be fairly cautious at this stage. Even years tend to be a good years for the hospitality sector with the Airshow and the number of conventions happening in the city. But we just have to be cautious given that Singapore is small and we're not that weather-proof when it comes to a recession."
And even as the global economic outlook continues to remain bleak, the corporate eyes are still set on ringing in a glittery new year.
- CNA/ch
- wong chee tat :)
By Yvonne Chan | Posted: 13 December 2011 2243 hrs
SINGAPORE : Corporate events bookings at Singapore hotels have increased this holiday season and the Singapore Tourism Board (STB) says the outlook for next year is also positive despite the economic slowdown.
In Singapore, hotels are adorned in Christmas livery and preparations for year-end festivities are in full-swing.
Meetings, Incentives, Conventions and Exhibitions (MICE) bookings have had a strong showing so far.
A survey of hotels in Singapore have shown that corporate bookings for the year 2011 have actually increased despite the global economic uncertainty and they are seeing healthy demand from both locals and overseas companies across a broad range of industries.
Figures gathered by Channel NewsAsia show growth in corporate bookings ranging from 12 to 50 percent compared to last year.
Colin Wang, General Manager, Grand Copthorne Waterfront Hotel, said: "2011 has been a good year for most businesses. I think you know it's only right that companies are still spending to thank some of their clients. So we're still seeing a lot of dinner and dance (D&D) still to come. In fact for December, the numbers are looking good, with combination of weddings and D&Ds. But of course, businesses will continue to ask for the usual value-added. We've just got to be a bit more creative in packaging things with a good proposition."
Elaine Kum, Director of Marketing, Marriott Singapore, said: "If they need to organise meetings in a hotel, they will go ahead with that. If they have a budget, they'll probably need to select a different category of hotel to match their budget."
According to STB figures, business travellers on the average form about a third of visitor arrivals to Singapore and contribute more than 30 percent of tourist spending.
The STB says the outlook for corporate MICE bookings in 2012 remains optimistic, with demand from Asia to remain strong.
With the Singapore Airshow and International Furniture Fair among the numerous events lined up for 2012, hoteliers are 'lighting up' in anticipation.
Colin Wang said: "Growth forecast is expected to be targeting 5 to 10 percent for 2012...We have to be fairly cautious at this stage. Even years tend to be a good years for the hospitality sector with the Airshow and the number of conventions happening in the city. But we just have to be cautious given that Singapore is small and we're not that weather-proof when it comes to a recession."
And even as the global economic outlook continues to remain bleak, the corporate eyes are still set on ringing in a glittery new year.
- CNA/ch
- wong chee tat :)
JTC to launch 2-stage tender for Jurong Rock Caverns
JTC to launch 2-stage tender for Jurong Rock Caverns
Posted: 13 December 2011 1705 hrs
SINGAPORE : JTC Corporation is launching a two-stage tender this Friday to engage an operator for Jurong Rock Caverns, Singapore's first underground hydrocarbon storage facility.
The tender is for an operator to manage and operate the first phase of the Caverns.
Located at Jurong Island, Phase One of the Caverns will be completed in stages between 2013 and 2014. The operatorship contract is scheduled to commence in 2013, and will be for a period of 15 years.
Shortlisted participants from the first stage will be invited to submit their business proposals within two months.
Chief executive officer of JTC, Manohar Khiatani, said the two-stage request for proposal is to ensure rigour in the selection process so that a capable and qualified operator is engaged to operate and manage the Caverns.
He said the target was to get an operator on board by the second half of next year.
The Caverns project is the first underground rock cavern for hydrocarbon storage in Singapore and Southeast Asia.
Located at a depth of 130 metres beneath Selat Banyan at Jurong Island, it is expected to provide infrastructural support to manufacturers on Jurong Island, and meet the storage needs for liquid hydrocarbons such as crude oil, condensate, naphtha and gas oil.
Applications must be submitted by January 13 next year.
- CNA/ms
- wong chee tat :)
Posted: 13 December 2011 1705 hrs
SINGAPORE : JTC Corporation is launching a two-stage tender this Friday to engage an operator for Jurong Rock Caverns, Singapore's first underground hydrocarbon storage facility.
The tender is for an operator to manage and operate the first phase of the Caverns.
Located at Jurong Island, Phase One of the Caverns will be completed in stages between 2013 and 2014. The operatorship contract is scheduled to commence in 2013, and will be for a period of 15 years.
Shortlisted participants from the first stage will be invited to submit their business proposals within two months.
Chief executive officer of JTC, Manohar Khiatani, said the two-stage request for proposal is to ensure rigour in the selection process so that a capable and qualified operator is engaged to operate and manage the Caverns.
He said the target was to get an operator on board by the second half of next year.
The Caverns project is the first underground rock cavern for hydrocarbon storage in Singapore and Southeast Asia.
Located at a depth of 130 metres beneath Selat Banyan at Jurong Island, it is expected to provide infrastructural support to manufacturers on Jurong Island, and meet the storage needs for liquid hydrocarbons such as crude oil, condensate, naphtha and gas oil.
Applications must be submitted by January 13 next year.
- CNA/ms
- wong chee tat :)
Credit Agricole to cut 2,350 global jobs: union
Credit Agricole to cut 2,350 global jobs: union
Posted: 14 December 2011 1927 hrs
PARIS - French banking group Credit Agricole is to cut 2,350 jobs around the world, including 850 positions in France, mainly at its Cacib investment bank, the Force Ouvriere (FO) union said on Wednesday.
At Cacib, 1,750 jobs will be cut globally, including 550 in France, said FO's representative for the bank, Bernard Pechard.
The bank's consumer credit branch, CACF, will see 600 jobs cut, half in France and half in the rest of the world.
Bank management held meetings on Wednesday with union officials representing staff at Cacib and CACF.
Pechard said he expected more job cuts would be announced when similar meetings are held at other Credit Agricole subsidiaries, including leasing arm Calef, which has 3,100 employees, and equity broker Chevreux, which has 800.
On Tuesday union sources had said they expected "several hundred" jobs to be cut at Credit Agricole, which last month reported a 65 percent drop in net attributable quarterly profit.
Credit Agricole, one of the biggest banks in Europe by capitalisation, employs 160,000 people around the world, a third of them outside of France, while Cacib employs about 15,000 people globally, including 4,600 in France.
Like other French banks, Credit Agricole has been hit by its exposure to Greek sovereign debt amid the eurozone debt crisis and last month revealed a 60 percent write-down of its holdings of Greek bonds.
The Moody's agency earlier this month downgraded its credit rating on Credit Agricole's long-term debt by one notch to Aa3, as it also announced downgrades on two other leading French banks, BNP Paribas and Societe Generale.
BNP Paribas expects to cut 1,400 jobs globally, mainly in its corporate and investment bank CIB, unions said last month, while Societe Generale has also warned unions of plans to cut several hundred jobs.
- AFP/ir
- wong chee tat :)
Posted: 14 December 2011 1927 hrs
PARIS - French banking group Credit Agricole is to cut 2,350 jobs around the world, including 850 positions in France, mainly at its Cacib investment bank, the Force Ouvriere (FO) union said on Wednesday.
At Cacib, 1,750 jobs will be cut globally, including 550 in France, said FO's representative for the bank, Bernard Pechard.
The bank's consumer credit branch, CACF, will see 600 jobs cut, half in France and half in the rest of the world.
Bank management held meetings on Wednesday with union officials representing staff at Cacib and CACF.
Pechard said he expected more job cuts would be announced when similar meetings are held at other Credit Agricole subsidiaries, including leasing arm Calef, which has 3,100 employees, and equity broker Chevreux, which has 800.
On Tuesday union sources had said they expected "several hundred" jobs to be cut at Credit Agricole, which last month reported a 65 percent drop in net attributable quarterly profit.
Credit Agricole, one of the biggest banks in Europe by capitalisation, employs 160,000 people around the world, a third of them outside of France, while Cacib employs about 15,000 people globally, including 4,600 in France.
Like other French banks, Credit Agricole has been hit by its exposure to Greek sovereign debt amid the eurozone debt crisis and last month revealed a 60 percent write-down of its holdings of Greek bonds.
The Moody's agency earlier this month downgraded its credit rating on Credit Agricole's long-term debt by one notch to Aa3, as it also announced downgrades on two other leading French banks, BNP Paribas and Societe Generale.
BNP Paribas expects to cut 1,400 jobs globally, mainly in its corporate and investment bank CIB, unions said last month, while Societe Generale has also warned unions of plans to cut several hundred jobs.
- AFP/ir
- wong chee tat :)
Hong Kong-based Storefriendly opens first outlet in Singapore
Hong Kong-based Storefriendly opens first outlet in Singapore
By Venus Hew | Posted: 09 December 2011 2217 hrs
SINGAPORE : As the average apartment size in Singapore shrinks so does the space people have to keep their stuff.
The trend is attracting a new wave of companies that rent out storage space.
Hong Kong-based Storefriendly opened its first franchised outlet in Singapore on Friday.
It aims to have 25 operating across the country by 2014.
Jes Johansen, Managing Director at Storefriendly, said: "We believe that Singapore is ripe in that apartment size is getting smaller. People consistently accumulate a lot of things, they want to have access to them and we believe with the small storage conveniently located, air conditioned, they will make use of that, they will appreciate that product right in their neighbourhood.
Storefriendly's 12,500 square foot outlet at Bukit Batok comprises about 300 secure lockers.
They will cost between 88 and 888 dollars per month to rent, depending on the size.
The company says it has the largest network in Asia, with 90 branches through Hong Kong, China and Macau.
It opens a new franchise on average every month, and this year its revenue jumped 50 percent to S$60 million.
The top four existing operators in Singapore control the majority of the industry's approximately 17,000 storage units or one million square feet of net lettable area.
With a population of 5 million in Singapore, Storefriendly says that will translate into an industry penetration of 0.25 square feet of self-storage space per person or one storage unit per 250th person.
By contrast, the penetration in more developed markets is above one square foot per person or about 80 people per storage unit.
Singapore therefore has the capacity for further organic growth in the self-storage industry.
Another industry player, Lock and Store says consumer demand in Singapore is growing 5 percent a year, in view of the smaller properties being built.
- CNA/ch
- wong chee tat :)
By Venus Hew | Posted: 09 December 2011 2217 hrs
SINGAPORE : As the average apartment size in Singapore shrinks so does the space people have to keep their stuff.
The trend is attracting a new wave of companies that rent out storage space.
Hong Kong-based Storefriendly opened its first franchised outlet in Singapore on Friday.
It aims to have 25 operating across the country by 2014.
Jes Johansen, Managing Director at Storefriendly, said: "We believe that Singapore is ripe in that apartment size is getting smaller. People consistently accumulate a lot of things, they want to have access to them and we believe with the small storage conveniently located, air conditioned, they will make use of that, they will appreciate that product right in their neighbourhood.
Storefriendly's 12,500 square foot outlet at Bukit Batok comprises about 300 secure lockers.
They will cost between 88 and 888 dollars per month to rent, depending on the size.
The company says it has the largest network in Asia, with 90 branches through Hong Kong, China and Macau.
It opens a new franchise on average every month, and this year its revenue jumped 50 percent to S$60 million.
The top four existing operators in Singapore control the majority of the industry's approximately 17,000 storage units or one million square feet of net lettable area.
With a population of 5 million in Singapore, Storefriendly says that will translate into an industry penetration of 0.25 square feet of self-storage space per person or one storage unit per 250th person.
By contrast, the penetration in more developed markets is above one square foot per person or about 80 people per storage unit.
Singapore therefore has the capacity for further organic growth in the self-storage industry.
Another industry player, Lock and Store says consumer demand in Singapore is growing 5 percent a year, in view of the smaller properties being built.
- CNA/ch
- wong chee tat :)
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