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Greater engagement needed to keep oil, gas staff

24th August 2017

Rigzone/24 August 2017 Greater engagement from oil and gas employers is needed in order to retain industry workers. “It’s going to come about through sharing goals and vision,” Petroplan CEO Rory Ferguson told Rigzone. The Petroplan CEO also highlighted traits that employees find important, as outlined in the company’s latest Talent Insight Index. “It’s training, it’s investment in their future,” Ferguson stated. A Petroplan representative shared Ferguson’s views on retaining oil and gas staff, telling Rigzone that more needed to be done by companies to appease employees. “There needs to be dialogue going on between companies and their employees giving...

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STUDY: One in three SMEs in Singapore hit by ransomware last year

23rd August 2017

HR in Asia/23 August 2017 A third of small and medium-sized enterprises (SMEs) in Singapore have experienced a ransomware attack last year, a study conducted by Osterman Research found. Cyberattacks such as WannaCry ransomware were causing worldwide hysteria, as it spreads across the globe. The research revealed that about 21 percent of the business who had been hit by ransomware were forced to cease all business operations immediately. Meanwhile, another 11 percent were losing revenue as a direct result of the attack, according to Malwarebytes’ Second Annual State of Ransomware Report. The report which surveyed 1,054 SMEs across Singapore, France,...

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Oil up more than 1% on eighth weekly US crude drawdown

23rd August 2017

Rigzone/23 August 2017 NEW YORK, Aug 23 (Reuters) – Oil prices rose on Wednesday after U.S. crude inventories declined for the eighth straight week and as a storm approached the Gulf Coast with the potential to disrupt oil and refined products output. Brent crude futures settled up 70 cents to $52.57 a barrel, while U.S. West Texas Intermediate crude futures were trading at $48.41, up 58 cents. U.S. crude inventories fell 3.3 million barrels last week, compared with analyst expectations for a decrease of 3.5 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell 503,000 barrels, the Energy...

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Tasmania can lead the way in renewable energy, Turnbull says

19th August 2017

The Guardian/19 August 2017 The prime minister, Malcolm Turnbull, has trumpeted Tasmania’s ability to lead the country in renewable energy at the state’s Liberal party council meeting. On Saturday, Turnbull addressed 250 delegates at the annual conference in Launceston, the party’s final gathering before a state election in March. He praised Liberal premier Will Hodgman’s economic management in a speech that touched on energy, terrorism and mental health. “You have here the best wind resources in the nation and the biggest hydro scheme in the nation,” he said, alluding to a study into increasing the Apple Isle’s hydro electricity production,...

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Electricity retailer selling plans with ‘discounts’ on artificially inflated prices

18th August 2017

The Guardian/18 August 2017 An electricity retailer is selling plans with “discounts” on prices that have been arbitrarily inflated, resulting in some customers paying hundreds of dollars more per year on their electricity bills. The practice highlights a weakness in the recently announced agreement between energy retailers and the government. The prime minister, Malcolm Turnbull, said the companies agreed they would alert customers to the impact on their bills when they come off discounted plans but said nothing about misleading discounts. Click Energy has retail market offers in Queensland and other states with “discounts” ranging from around 7% to 27%....

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SURVEY: Singapore workers less satisfied with employers than global average

16th August 2017

HR in Asia/16 August 2017 Singaporeans are less happy with their companies compared to workers in other countries, according to recent survey published yesterday (Aug 15). Conducted by of human resource consulting firm Mercer, the study revealed that employee engagement in the city state showed consistent decline over the past three years, which is in glaring contrast to the increasing trend observed across the globe. Only 73 percent of Singaporean respondents in the poll are satisfied with the companies they work for, compared with higher global average of 82 percent, Straits Times reports. Additionally, employees in Singapore are less likely...

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Oil and gas people to quantify financial impact of oil and gas downturn

6th June 2017

OilandGasPeople.com/6 June 2017 The UKs oil and gas industry has been operating amid an industry downturn that has seen tens of thousands of job losses, pay packets slashed in half and other work benefits cut altogether. Workers who were previously on high salaries may have found themselves unemployed or working for a fraction of their previous wage. This obviously has an impact on mortgage affordability, vehicle affordability and general standard of living. Oil and Gas People would like to hear from you, to see how the oil and gas downturn has impacted your life (if at all). In our short...

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April bank lending rises 7% year on year

1st June 2017

The Straits Times/1 June 2017 Bank lending in April grew at its fastest pace in more than two years, driven by a pick-up in both business and consumer loans amid a better economic outlook. Total bank loans rose to $631.2 billion, up 7 per cent compared with $589.8 billion in April last year, according to preliminary data from the Monetary Authority of Singapore (MAS) yesterday. This marked the largest year-on- year increase since December 2014. Bank lending growth has been picking up in recent months, rising 5.2 per cent year on year in February and 6.3 per cent in March....

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Vietnam refinery operator valued at $3.2 bln ahead of IPO

1st June 2017

Business Times/1 June 2017 Vietnam’s sole refinery operator Binh Son Refinery (BSR) said on Thursday it has been valued at US$3.21 billion as at end-2015, as it prepares for an initial public offering (IPO) late this year. The valuation will form the basis for calculating the share price of Binh Son, which operates the Dung Quat oil refinery, Vietnam’s only operating refinery, and is also looking to attract strategic investors. Communist Vietnam has slowly been pushing its state-owned enterprises to privatise to boost performance. The process has gained more momentum since a new government took office last year. BSR said...

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1MDB scandal: MAS fines UOB and Credit Suisse

31st May 2017

The Straits Times/31 May 2017 The Monetary Authority of Singapore (MAS) has fined United Overseas Bank (UOB) and Switzerland’s Credit Suisse Group for their role in handling transactions linked to 1Malaysia Development Berhad (1MDB). UOB was fined $900,000, while Credit Suisse had to cough up $700,000 – both for breaches of anti-money laundering requirements and control lapses. The fines announced yesterday mean that $29.1 million in penalties has been imposed on eight banks since the two-year probe began of 1MDB-related transactions. The regulator also issued prohibition orders against three convicted former employees of Falcon Private Bank and BSI Bank. Lifetime...

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