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Sometimes they have been seen/observed/known before, but not collected or formally described,” said Regen Drennan, a postdoctoral marine biologist at London’s Natural History Museum. If deep-sea mining follows the same trajectory as offshore oil production, more than one-third of these critical metals will come from deep-ocean mines by 2065, the federal agency estimated. However, several countries, including the United Kingdom and France, have expressed caution, supporting a moratorium or ban on deep-sea mining to safeguard marine ecosystems and conserve biodiversity. Along with the transparent unicumber, the creature is a type of sea pig within the scientific family called Elpidiidae. It’s also possible, these scientists warn, that deep-sea mining could disrupt the way carbon is stored in the ocean, contributing to the climate crisis.
Persons: James Cook, , Regen Drennan, Drennan, wasn’t, ” Drennan, It’s Organizations: CNN, Clarion, National Oceanography Centre, Geological Survey, Authority, United Nations Convention, NHMDeepSea Locations: London, United Kingdom, France
Southeast Asian tech giant Sea Limited on Monday posted its first profitable year amid efforts to defend market share against Alibaba -owned Lazada and TikTok. Net income in 2023 was $162.7 million, as compared to a net loss of $1.7 billion in 2022. Sea's e-commerce arm Shopee made a "meaningful gain in market share" in 2023 despite "intensified competition in Southeast Asia," the firm said on Monday. Sea also said Shopee's market share in the region has "solidified" and the firm intends to "maintain our market share in 2024." Tokopedia merged with TikTok Shop in Indonesia to form an enlarged Tokopedia entity, in which TikTok will take a controlling stake of 75.01%.
Persons: Forrest Li, Li, Sea's, Shopee Organizations: Alibaba Locations: MariBank, Singapore, Sea's New York, Southeast Asia, Indonesia
The top superyachts at Monaco Yacht Show 2023
  + stars: | 2023-09-27 | by ( Tamara Hardingham-Gill | ) edition.cnn.com   time to read: +7 min
“It shows the evolution of yacht design and the use of a yacht,” says Pizzardini. The Monaco Yacht Show’s Sustainability Hub, which showcases what are touted as sustainable solutions and eco-friendly projects, is returning to the show for its second year. RossinaviThere were 5,695 superyachts over 30 meters in operation in mid-August, according to the Monaco Yacht Show Market Report 2023 published by SuperYacht Times. The report goes on to state that new yacht sales were behind by 34% at the start of September, while used yacht sales were down by around 25%. There are lots of expectations for this year.”Monaco Yacht Show 2023 begins on September 27, and ends on September 30.
Persons: Julien Hubert, Marcela Royer, ” Johan Pizzardini, Royer, , they’re, Guillaume Plisson, Tecnomar –, , – it’s, Vitruvius, Francesco Paszkowski, Maurizio Paradisi, Amels, Amare, Aurelia, Lara, Pizzardini, superyachts, it’s Organizations: CNN, Monaco, Tankoa Yachts, CNN Travel, Monaco’s, Amels, Italian, Group Yachts, , Rossinavi, SuperYacht Times Locations: Monaco, Netherlands, London, Carinthia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSea Group's gaming segment has again proven to be a 'cash cow,' DBS Bank saysSachin Mittal, head of telecom, media and technology research at DBS Bank, said that Garena saw quarterly paying users growing on a sequential basis.
Persons: Sachin Mittal, Garena Organizations: DBS Bank
Scheherazade, a $700 million superyacht linked to Russian President Putin, is being refitted in Italy. Italy seized the yacht in 2022 following sweeping sanctions against Russia over the Ukraine war. A $700 million superyacht reportedly linked to Russian President Vladimir Putin is sitting in an Italian port and being refitted on the unnamed owner's dime, the Financial Times reported Sunday. US authorities believe the superyacht could belong to Putin, The New York Times reported in March last year. Other Russian oligarch-linked yachts that have been seized include the $81 million Alfa Nero and the $48 million Phi.
Persons: Putin, Vladimir Putin, It's, Eduard Khudainatov, Alexei Navalny, Nero Organizations: Russia, Financial Times, Marina di, Sea Group, Bloomberg, The New York Times, Kremlin, Phi, Italian Sea Group Locations: Italy, Ukraine, Marina, Milan, Russian
CFOTO | Future Publishing | Getty ImagesTikTok Shop is a rising threat to major e-commerce players such as Shopee and Lazada in Southeast Asia. TikTok Shop is the e-commerce marketplace of short video app TikTok, which is owned by Chinese tech giant ByteDance. In 2022, TikTok Shop expanded to six Southeast Asian countries — Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand. TikTok is "focused on the continued development of TikTok Shop in Southeast Asia," said the spokesperson. To incentivize sellers to join the platform, TikTok Shop waived commission fees when it launched in Singapore in August.
Persons: TikTok, Shopee, Shawn Yang, Shop's, Sachin Mittal, Lazada's GMV, Jonathan Woo, Lazada, Shou Zi, Woo, bode Organizations: Blue Lotus Research Institute, Sea Group, DBS Bank, CNBC, Intelligence, Phillip Securities Research, TikTok, U.S, Merchants, SG, Phillip Securities Locations: Southeast Asia, India, Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand, Southeast, GMV, U.S, Statista, Brazil, China, U.S ., Montana, Texas, Nomieo
Here are some of the more prominent global tech firms that have axed staff despite earning big money. 30 despite a "dynamic environment," CEO Satya Nadella said in the tech giant's annual report. Despite that, Microsoft announced in January that it's laying off 10,000 workers as the firm braces for slower revenue growth. The enterprise software company also returned to positive operating profit growth of 2%. However, SAP announced in January that it's cutting up to 3,000 jobs, as the leadership seeks to steer the company toward double-digit profit growth in 2023.
MariBank, Singapore tech giant Sea Group's digital bank, has launched in Singapore to select members of the public as it rolls out its services progressively. Singapore tech giant Sea Group has launched its digital banking services to select members of the public. "We are rolling out our services progressively on an invite-only basis," MariBank said on its new website that was launched on Tuesday. It is the latest online lender to join a slew of others in Singapore since the city-state issued four digital bank licenses in December 2020. MariBank has been rolling out its services progressively the third quarter of 2022, and was previously only available to employees of Sea Group.
Singapore's Sea Group turns profitable for the first time
  + stars: | 2023-03-08 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +5 min
Sea Limited's e-commerce arm, Shopee, turned positive adjusted EBITDA for the first time in the fourth quarter of 2022. The group also posted its first-ever positive net income in the quarter. The chairman and group CEO of Sea Limited, said on Tuesday that 2022 was "another year of evolution for us." Shopee and SeaMoneyMeanwhile, e-commerce business Shopee and digital payments arm SeaMoney continued to see strong growth in 2022. Positive EBITDA, or earnings before interest, taxes, depreciation and amortization, refers to the company operating at a profitable level.
Singapore's new digital retail banks are offering lower fees, more incentives and waiving minimum account balances to win over customers from traditional banks. Bloomberg | Bloomberg | Getty ImagesSINGAPORE — Digital retail banks in Singapore are pulling out all stops to win new customers. Unlike traditional banks — like DBS , OCBC and UOB — which operate physical branches and automated teller machines, digital banks operate entirely online. Singapore's new digital banksThe city-state gave out four digital bank licenses in December 2020. The other two digital wholesale bank licenses were bagged by Ant Group's ANEXT Bank and Green Link Digital Bank, catering to small-and-medium enterprises and other non-retail segments.
Jobs that help companies digitize and grow amid economic volatility are on the rise in Singapore, according to LinkedIn. Its latest Jobs on the Rise data revealed spikes in hiring for growth specialists, technical jobs and health-care professionals in Asia — among other jobs expected to expand hiring well into 2023. Researchers from LinkedIn examined jobs from January 2018 to July 2022 to calculate the growth rate for each job title in a specific country. Here's the full list of Singapore's jobs on the rise in 2023, according to LinkedIn:1. Machine learning engineerMost common skills: TensorFlow, Deep Learning, PyTorch Most common industries: Technology and media, manufacturing, financial services Median years of prior experience: 2.6 Remote job availability: 4.5%12.
Venture capital-backed companies only raised $369 billion for the first three quarters of 2022, according to Crunchbase data. Malte Mueller | Fstop | Getty ImagesVenture capital firms in Southeast Asia will probably be pickier next year, with valuations plunging and economic headwinds slowing growth in 2022. Sequoia Southeast Asia raised a $850 million fund in June, East Ventures raised $550 million in July, and Insignia Ventures Partners raised $516 million in August. Indonesia-based e-grocery company HappyFresh ceased operations in Malaysia after seven years, while Grab discontinued its quick commerce service GrabMart Kilat in Indonesia. "The 15-minute model of quick commerce in Southeast Asia is very difficult because the unit economics are very negative.
U.S. tech stocks have been a minefield for investors this year, but hedge fund manager Dan Niles is optimistic on the sector elsewhere. Niles, who is founder and senior portfolio manager of the Satori Fund, told CNBC's "Street Signs Asia" Friday that his fund just bought some international tech stocks. It has short positions in tech stocks with advertising exposure. On the flip side, he warned investors off cloud computing and software stocks with "consumption-based models that will be hurt by tech company layoffs." So everybody needed to buy software, cloud computing resources, make sure their business survived," Niles told CNBC's "TechCheck" separately last week.
Lauryn Ishak | Bloomberg | Getty ImagesMore tech startups in Southeast Asia laid off workers this year, as macro headwinds widened losses and venture capitalists pushed startups to extend their runways. Jia Jih Chai RainforestThey join Sea Group and other companies in the region in downsizing headcount. Sea Group, according to local media, laid off more than 7,000 employees over the past six months. Tech startups in Southeast Asia are still largely unprofitable, with names like Sea Group and Grab amassing billions of losses annually. Existing investors in the company are also actively advising founders to prepare for winter, Jussi Salovaara, Antler's co-founder and managing partner for Asia, told CNBC.
Tjandra also pledged that its high deposit rate of up to 8% per year would not be a one-off. BNC's net interest margin (NIM), an indicator of profitability and as of September at 12.7%, was sufficient even with high deposit rates, he said. Sea Group's digital bank SeaBank Indonesia offers a deposit rate of 7%, while Bank Jago offered a 7% rate for its saving products during a promotional period in August. BNC is targeting 10-11 trillion rupiah loan disbursement this year and up to 40% growth in 2023, Tjandra said. But the lender is still expected to book a full-year loss of around 500-600 billion rupiah in December, Tjandra said.
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