Finance professionals expect bigger bonuses this year

Finance professionals expect bigger bonuses this year
By Mustafa Shafawi

	Photos 1 of 1

 
SINGAPORE: The majority of finance professionals in Singapore are expecting bigger bonuses this year, according to a survey.

The survey, carried out by eFinancial Careers, found nearly a quarter was expecting between 11 and 30 per cent more bonuses.

It found one in 10 was counting on getting between 30 and 50 per cent more.

Those who said they anticipated a bonus increase said both personal and company performance were key contributing factors to their positive bonus outlook.

The survey also found about one in 10 of these professionals expected a lower bonus.

The anticipated smaller bonus would prompt them to look for a new job at a different firm, they said.

With growing market optimism, the survey said half of the finance professionals polled believed the size of bonuses would continue to increase over the next three years.

-CNA/wk

- wong chee tat :) 

Asia now price setter for oil: experts

Asia now price setter for oil: experts
By Rachel Kelly

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SINGAPORE : Asia has become the price setter for oil, on the back of increased demand from China.

Experts said this is changing the way players in the region handle the trading of oil. However, they noted that it will take some time for Asia to establish a strong pricing market.

Oil prices may have settled around the US$70 to US$80 a barrel mark, but they have been on a roller-coaster ride - up sharply in 2008 before going on a downward spiral and then picking up again.

According to some experts, demand from Asia, especially China, has been driving oil prices to where they are now.

Last year, China surpassed Japan as the world's second largest oil consumer, and industry watchers said it wants a say in pricing.

Jason Feer, senior vice president & general manager, Asia Pacific, Argus Media, said: "Traditionally in Asia, the major importing countries for energy commodities and other commodities have been price takers so the price that Asian importers are paying for oil is typically set by other people, traders, or perhaps, futures exchanges in other regions.

"The Chinese are no longer content to be passive price takers and so they are much more active in the commodities markets and the spot markets than the traditional economic powers in the region - like the Japanese, Koreans, the Indians.

"(They) have also become more assertive about participating in markets, about having an influence on what the price is, and that's a real shift."

But while some said Asia is a determining factor in the increase in oil prices, they added that it remains underdeveloped when it comes to pricing markets, in comparison to those in the West such as NYMEX. They said that is because Asian buyers traditionally have not hedged their price risks.

And in some cases, pricing environments are dominated by price controls or subsidies.

But on the other hand, others argued that speculation, rather than demand, has been driving prices.

Valery Golovushkin, president & CEO, Socar Trading, said: "I don't think there is any connection in the rising oil prices and Chinese demand. I don't think there is any connection to the fundamentals, to the supply and demand. Oil prices in the last couple of years are driven by speculation."

Demand for oil in China has grown by about 8 to 10 per cent annually, compared with the global increase of around 1.5 per cent.

- CNA/al

- wong chee tat :)

Singapore among world's first to get Windows Phone 7 handsets

Singapore among world's first to get Windows Phone 7 handsets
By Ryan Huang

	Photos 1 of 1 The people hub of the new Windows Phone 7
	Related News • Microsoft launches Windows Phone 7 platform in Asia

 
SINGAPORE: Singapore will be among the first in the world to get mobile phones running the new Windows Phone 7 operating platform, with SingTel having confirmed plans to offer them by 21st October this year.

Other telcos say they will also be offering it soon.

The new operating system (OS) is part of Microsoft's campaign to catch up with rivals in the smartphone market.

It is targeting to be among the top three in terms of OS market share within three years. Based on research firm IDC's estimates, the previous Microsoft OS has been lagging behind Nokia's Symbian, Android, and Apple's iOS.

Among the new features being received favourably by analysts is the concept of integrating information or hubbing, where a person's profile will not just show his contacts, but also aggregates related information such as live feeds from various social networking sites.

The Windows Phone 7 will also allow users to play Xbox LIVE games on their phones.

One of these games is Armor Valley by local developer Protege. The game will be one of 50 titles to be launched globally for the phone.

Microsoft is working with more local firms to develop new applications as well as partnering with SingTel to allow the telco to offer its own suite of applications for the phone.

"We are also bringing our own set of developers whom we have been grooming and working with on other platforms to introduce them onto Windows Phone 7 platform...you'll see more and more of the local apps that we have on other platforms being ported into Windows Phone 7," says Yuen Kuan Moon, SingTel's Executive Vice President of Consumer Group.

Some of the services that users can expect include SingTel's AMPed music service and Mobile TV's video streaming service.

-CNA/ac

- wong chee tat :)