Blog Updates:
Minor updates:
- Update labels on some old posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
Monday, June 13, 2016
Opportunities for insurers to cover risks from cyber attacks, natural disasters: Tharman
Opportunities for insurers to cover risks from cyber attacks, natural disasters: Tharman
Deputy Prime Minister Tharman Shanmugaratnam cites growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks as well as investing in infrastructure.
By Nicole Tan
Posted 13 Jun 2016 21:54 Updated 13 Jun 2016 22:06
SINGAPORE: There are opportunities for insurers in financing infrastructure and providing insurance for cyber attacks and natural disasters, despite the challenge of persistently low interest rates, said Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam.
He was speaking at the International Insurance Society Global Insurance Forum on Monday (Jun 13).
Mr Tharman cited growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks, as well as investing in infrastructure.
To enable long-term investments, such as for infrastructure, Mr Tharman said the Monetary Authority of Singapore is seeking to modify its risk-based capital framework for insurers. He said the next public consultation on this will be held at the end of the month.
Mr Tharman also noted that the economic cost of natural disasters is growing but that the take-up of catastrophe insurance in Asia has been "woefully low". The Deputy Prime Minister pointed to a data gap: "The industry needs good data on the frequency, location and economic impact of natural disasters, so that insurers and reinsurers can price risks adequately. So we have had a limited supply of insurance coverage, that has itself led to higher cost of protection, which in turn discourages demand for insurance against catastrophe risks."
Likewise, Mr Tharman noted that the data needed for the efficient underwriting of cyber risk is "weak". He said: "We need to strengthen collaboration between the industry, government and academia to build reliable databases and analytical tools to enable the efficient underwriting of cyber risk."
ACTIVE INVESTMENT MANAGEMENT 'NOT ALL IT HAS BEEN CRACKED UP TO BE'
As populations age, individuals need to save more for a longer retirement. Meanwhile, slower economic growth is weighing on investment. Mr Tharman said higher savings and lower investment suggest that long-term real interest rates are likely to stay low for quite some time to come. He added that this poses a challenge for insurance and pension funds.
He said: “It hits you on both your assets and your liabilities. It means a lower return on your assets. And it pushes up the value of liabilities because the discount rate has gone down. It is not a temporary challenge but a long-term challenge.
"As life expectancy goes up, liabilities will be pushed out further, and the gap in maturity between your liabilities and your assets is likely to grow. This mismatch in durations, together with low interest rates, means we have a growing problem."
Going forward, Mr Tharman said fundamental reforms are needed to address the challenges, such as making the workplace more attractive to older employees.
As for the finance industry, he said there should be a shift towards passive investment management, away from active management which has proven costly for ordinary savers.
Mr Tharman said: “Active management is not all it has been cracked up to be: it has not proven its worth for most ordinary savers preparing for their retirement. We do have to move towards a system, in a whole range of countries, of helping people save for the long term through passive investment funds, and pool savings to avoid fragmentation and excessive marketing costs.”
- CNA/ms
- wong chee tat :)
Deputy Prime Minister Tharman Shanmugaratnam cites growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks as well as investing in infrastructure.
By Nicole Tan
Posted 13 Jun 2016 21:54 Updated 13 Jun 2016 22:06
SINGAPORE: There are opportunities for insurers in financing infrastructure and providing insurance for cyber attacks and natural disasters, despite the challenge of persistently low interest rates, said Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam.
He was speaking at the International Insurance Society Global Insurance Forum on Monday (Jun 13).
Mr Tharman cited growth areas in the region that insurers can tap, including providing insurance solutions for cyber and natural disaster risks, as well as investing in infrastructure.
To enable long-term investments, such as for infrastructure, Mr Tharman said the Monetary Authority of Singapore is seeking to modify its risk-based capital framework for insurers. He said the next public consultation on this will be held at the end of the month.
Mr Tharman also noted that the economic cost of natural disasters is growing but that the take-up of catastrophe insurance in Asia has been "woefully low". The Deputy Prime Minister pointed to a data gap: "The industry needs good data on the frequency, location and economic impact of natural disasters, so that insurers and reinsurers can price risks adequately. So we have had a limited supply of insurance coverage, that has itself led to higher cost of protection, which in turn discourages demand for insurance against catastrophe risks."
Likewise, Mr Tharman noted that the data needed for the efficient underwriting of cyber risk is "weak". He said: "We need to strengthen collaboration between the industry, government and academia to build reliable databases and analytical tools to enable the efficient underwriting of cyber risk."
ACTIVE INVESTMENT MANAGEMENT 'NOT ALL IT HAS BEEN CRACKED UP TO BE'
As populations age, individuals need to save more for a longer retirement. Meanwhile, slower economic growth is weighing on investment. Mr Tharman said higher savings and lower investment suggest that long-term real interest rates are likely to stay low for quite some time to come. He added that this poses a challenge for insurance and pension funds.
He said: “It hits you on both your assets and your liabilities. It means a lower return on your assets. And it pushes up the value of liabilities because the discount rate has gone down. It is not a temporary challenge but a long-term challenge.
"As life expectancy goes up, liabilities will be pushed out further, and the gap in maturity between your liabilities and your assets is likely to grow. This mismatch in durations, together with low interest rates, means we have a growing problem."
Going forward, Mr Tharman said fundamental reforms are needed to address the challenges, such as making the workplace more attractive to older employees.
As for the finance industry, he said there should be a shift towards passive investment management, away from active management which has proven costly for ordinary savers.
Mr Tharman said: “Active management is not all it has been cracked up to be: it has not proven its worth for most ordinary savers preparing for their retirement. We do have to move towards a system, in a whole range of countries, of helping people save for the long term through passive investment funds, and pool savings to avoid fragmentation and excessive marketing costs.”
- CNA/ms
- wong chee tat :)
Chrome Bug Enabled Crooks to Send Malicious Code to Your Browser as PDF Files
Chrome Bug Enabled Crooks to Send Malicious Code to Your Browser as PDF Files
Jun 9, 2016 23:05 GMT · By Catalin Cimpanu
Google has recently patched a high severity security bug in the Chrome browser that allowed crooks to send malicious code to your browser and take over your entire system.
The issue, tracked by the CVE-2016-1681 identifier, affects the browser's built-in PDF reader called PDFium.
Google patched the issue with the release of Chrome 51.0.2704.63, released on May 25. In the meantime, Chrome released another wave of security updates at the start of June.
Cisco discovered the issue, and Google patched it in six days
Cisco's Aleksandar Nikolic was the researcher that discovered and reported the issue to Google, who even awarded him $3,000 for his efforts.
According to the researcher's account, the issue was discovered six days earlier, on May 19, and Google's team fixed it right away.
Nikolic says that CVE-2016-1681 allowed attackers to embed a JPEG2000 image inside a PDF file, which when opened inside a vulnerable Chrome browser, would have triggered a buffer overflow that enabled the threat actor to run arbitrary code on the victim's machine.
Vulnerability was in the OpenJPEG library
The actual vulnerability was not in Chrome or PDFium, but in the OpenJPEG library that parses JPEG2000 files before being displayed inside the browser.
PDF files are so prevalent nowadays that few people think twice before opening one, either locally or on the Web. All of today's major browsers have a PDF reader already built-in, which also helps users think that opening a PDF might be safe.
"The most effective attack vector is for the threat actor to place a malicious PDF file on a website and then redirect victims to the website using either phishing emails or even malvertising," Cisco's Earl Carter wrote today in a technical write-up.
To stay safe, users should update to Google Chrome 51.0.2704.63 or higher. You can do this with the help of the built-in Chrome updater, or you can install a fresh copy of Chrome on top of your existing installation. You can get Google Chrome via Softpedia's download mirrors for Linux, Mac, and Windows users.
Read more: http://news.softpedia.com/news/chrome-bug-enabled-crooks-to-send-malicious-code-to-your-browser-as-pdf-files-505068.shtml#ixzz4BTAMzpfK
- wong chee tat :)
Jun 9, 2016 23:05 GMT · By Catalin Cimpanu
Google has recently patched a high severity security bug in the Chrome browser that allowed crooks to send malicious code to your browser and take over your entire system.
The issue, tracked by the CVE-2016-1681 identifier, affects the browser's built-in PDF reader called PDFium.
Google patched the issue with the release of Chrome 51.0.2704.63, released on May 25. In the meantime, Chrome released another wave of security updates at the start of June.
Cisco discovered the issue, and Google patched it in six days
Cisco's Aleksandar Nikolic was the researcher that discovered and reported the issue to Google, who even awarded him $3,000 for his efforts.
According to the researcher's account, the issue was discovered six days earlier, on May 19, and Google's team fixed it right away.
Nikolic says that CVE-2016-1681 allowed attackers to embed a JPEG2000 image inside a PDF file, which when opened inside a vulnerable Chrome browser, would have triggered a buffer overflow that enabled the threat actor to run arbitrary code on the victim's machine.
Vulnerability was in the OpenJPEG library
The actual vulnerability was not in Chrome or PDFium, but in the OpenJPEG library that parses JPEG2000 files before being displayed inside the browser.
PDF files are so prevalent nowadays that few people think twice before opening one, either locally or on the Web. All of today's major browsers have a PDF reader already built-in, which also helps users think that opening a PDF might be safe.
"The most effective attack vector is for the threat actor to place a malicious PDF file on a website and then redirect victims to the website using either phishing emails or even malvertising," Cisco's Earl Carter wrote today in a technical write-up.
To stay safe, users should update to Google Chrome 51.0.2704.63 or higher. You can do this with the help of the built-in Chrome updater, or you can install a fresh copy of Chrome on top of your existing installation. You can get Google Chrome via Softpedia's download mirrors for Linux, Mac, and Windows users.
Read more: http://news.softpedia.com/news/chrome-bug-enabled-crooks-to-send-malicious-code-to-your-browser-as-pdf-files-505068.shtml#ixzz4BTAMzpfK
- wong chee tat :)
Cardholders of all 3 local banks now able to withdraw cash from 7-Eleven outlets
Cardholders of all 3 local banks now able to withdraw cash from 7-Eleven outlets
AsiaOneMonday, Jun 13, 2016
SINGAPORE - Frustrated by long queues at the ATM? Customers of Singapore's three biggest banks now have the option of withdrawing money from most 7-Eleven stores.
In a statement on Monday (June 13), 7-Eleven announced that all DBS or POSB, OCBC and UOB debit or credit cardholders will be able to take out between $10 and $100 at no extra charge when they make a purchase at one of the convenience store's participating outlets.
There are also no limits to the number of withdrawals that a customer may make in a day, though the amounts withdrawn will be subjected to each individual card's withdrawal limit.
The service will be available 24 hours a day at 384 out of 450 7-Eleven outlets across the island. Only shops at Shell petrol stations and Changi Airport do not offer the service.
The cash withdrawal service was first introduced nearly three years ago to DBS and POSB account holders. It has now been extended to OCBC and UOB users on March 15 and April 29 respectively.
Mr David Goh, chief executive officer of 7-Eleven Singapore, said: "This simple process innovation is akin to creating close to 400 additional ATMs overnight for cash withdrawals from not just one, but all three local banks."
He added that the service will also help the store recycle their cash collections, and could potentially cut down tasks associated with cash handling.
The outlets will provide cash based on what is available, as dictated by cash-flows from day-to-day purchases at individual stores.
seanyap@sph.com.sg
- wong chee tat :)
AsiaOneMonday, Jun 13, 2016
SINGAPORE - Frustrated by long queues at the ATM? Customers of Singapore's three biggest banks now have the option of withdrawing money from most 7-Eleven stores.
In a statement on Monday (June 13), 7-Eleven announced that all DBS or POSB, OCBC and UOB debit or credit cardholders will be able to take out between $10 and $100 at no extra charge when they make a purchase at one of the convenience store's participating outlets.
There are also no limits to the number of withdrawals that a customer may make in a day, though the amounts withdrawn will be subjected to each individual card's withdrawal limit.
The service will be available 24 hours a day at 384 out of 450 7-Eleven outlets across the island. Only shops at Shell petrol stations and Changi Airport do not offer the service.
The cash withdrawal service was first introduced nearly three years ago to DBS and POSB account holders. It has now been extended to OCBC and UOB users on March 15 and April 29 respectively.
Mr David Goh, chief executive officer of 7-Eleven Singapore, said: "This simple process innovation is akin to creating close to 400 additional ATMs overnight for cash withdrawals from not just one, but all three local banks."
He added that the service will also help the store recycle their cash collections, and could potentially cut down tasks associated with cash handling.
The outlets will provide cash based on what is available, as dictated by cash-flows from day-to-day purchases at individual stores.
seanyap@sph.com.sg
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
Homage to the 36 trillion, 119 thousand, 500 Amitabha Buddhas
- wong chee tat :)
六字真言頌 怙主三寶
六字真言頌 怙主三寶
虔心皈依怙主三寶，真心憐憫慈母眾生，嗡瑪尼巴美吽……
佛為導師法為正道，僧為善侶同為救主，嗡瑪尼巴美吽……
登山階梯過河船舟，驅愚慧燈險隘坦途，嗡瑪尼巴美吽……
口誦真言心中祈禱，地獄烈火從此熄滅，嗡瑪尼巴美吽……
唱頌六字胸中發願，冷獄冰雪消融變暖，嗡瑪尼巴美吽……
誦持六字威力無比，十八地獄變成樂土，嗡瑪尼巴美吽……
世間無實因緣難料，生死輪回行善為要，嗡瑪尼巴美吽……
萬物無常善惡交替，向善精進矢志不渝，嗡瑪尼巴美吽……
暇滿人身難得至寶，虛度此生實為可惜，嗡瑪尼巴美吽……
貪心無盡欲望皆空，惡趣業因棄之從善，嗡瑪尼巴美吽……
萬惡煩惱罪孽根源，時刻提防凡夫癡念，嗡瑪尼巴美吽……
強壯身軀入土荒野，驅走死神上師引路，嗡瑪尼巴美吽……
瑪尼頌詞怙主三寶，諾言活佛順口編唱，嗡瑪尼巴美吽……
虔誠頂禮觀音菩薩，消除罪孽速證佛果，嗡瑪尼巴美吽……
如來佛子慈悲引路，眾生往生極樂佛土，嗡瑪尼巴美吽……
六字斷除六道苦難頌
嗡字放光照耀天界，死苦難忍觀音救度，嗡瑪尼巴美吽……
瑪字光照阿修羅界，爭斗死傷觀音救度，嗡瑪尼巴美吽……
尼字放光照亮人間，生老病死觀音救度，嗡瑪尼巴美吽……
巴字放光照亮畜生，蠢啞痛苦觀音救度，嗡瑪尼巴美吽……
美字放光照亮惡鬼，饑餓難熬觀音救度，嗡瑪尼巴美吽……
吽字放光照亮地獄，冷熱煎熬觀音救度，嗡瑪尼巴美吽……
- wong chee tat :)
虔心皈依怙主三寶，真心憐憫慈母眾生，嗡瑪尼巴美吽……
佛為導師法為正道，僧為善侶同為救主，嗡瑪尼巴美吽……
登山階梯過河船舟，驅愚慧燈險隘坦途，嗡瑪尼巴美吽……
口誦真言心中祈禱，地獄烈火從此熄滅，嗡瑪尼巴美吽……
唱頌六字胸中發願，冷獄冰雪消融變暖，嗡瑪尼巴美吽……
誦持六字威力無比，十八地獄變成樂土，嗡瑪尼巴美吽……
世間無實因緣難料，生死輪回行善為要，嗡瑪尼巴美吽……
萬物無常善惡交替，向善精進矢志不渝，嗡瑪尼巴美吽……
暇滿人身難得至寶，虛度此生實為可惜，嗡瑪尼巴美吽……
貪心無盡欲望皆空，惡趣業因棄之從善，嗡瑪尼巴美吽……
萬惡煩惱罪孽根源，時刻提防凡夫癡念，嗡瑪尼巴美吽……
強壯身軀入土荒野，驅走死神上師引路，嗡瑪尼巴美吽……
瑪尼頌詞怙主三寶，諾言活佛順口編唱，嗡瑪尼巴美吽……
虔誠頂禮觀音菩薩，消除罪孽速證佛果，嗡瑪尼巴美吽……
如來佛子慈悲引路，眾生往生極樂佛土，嗡瑪尼巴美吽……
六字斷除六道苦難頌
嗡字放光照耀天界，死苦難忍觀音救度，嗡瑪尼巴美吽……
瑪字光照阿修羅界，爭斗死傷觀音救度，嗡瑪尼巴美吽……
尼字放光照亮人間，生老病死觀音救度，嗡瑪尼巴美吽……
巴字放光照亮畜生，蠢啞痛苦觀音救度，嗡瑪尼巴美吽……
美字放光照亮惡鬼，饑餓難熬觀音救度，嗡瑪尼巴美吽……
吽字放光照亮地獄，冷熱煎熬觀音救度，嗡瑪尼巴美吽……
- wong chee tat :)
Blog Updates:
Blog Updates:
Minor updates:
- Update labels on some old posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
Minor updates:
- Update labels on some old posts
Will continue to make minor improvements for this blog!
- wong chee tat :)
McAfee DAT version = 8194 (jun 12th 2016)
McAfee DAT version = 8194 (jun 12th 2016)
Link: here ( Select Yes. And it keeps getting updated daily. Region=US)
- wong chee tat :)
Link: here ( Select Yes. And it keeps getting updated daily. Region=US)
- wong chee tat :)
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