Latest news with #Long-Term
Business Times
6 days ago
- Health
- Business Times
Most Singaporeans are unprepared and underinsured for long-term care: Singlife
[SINGAPORE] Only one in three Singaporeans have taken out additional insurance to cover the cost of long-term care, and more than half of them underestimate actual expenses, revealed a white paper by financial services provider Singlife. 'This is alarming, especially when the numbers have shown that more than half of those over 65 will likely need some form of long-term care in their lifetime,' said Pearlyn Phau, group chief executive of Singlife. She was speaking at the white paper launch event on Friday (Jul 25) morning. Singlife is one of three private long-term care insurance providers in the Republic. Long-term care refers to services typically required by individuals who need further care after being discharged from an acute hospital, as well as the elderly who may need help with daily needs. As the life expectancy of Singaporeans rises, Phau noted that a longer life span can bring new and complex challenges – not just financially, but emotionally for individuals, families and all of society. This inspired Singlife to delve deeper into the realities of long-term care and publish a white paper titled From Awareness to Action: Securing Long-Term Care for a Super-Aged Society, which presents findings drawn from its long-term care insurance claims data from 2010 to 2024. The white paper incorporates insights from two in-house research studies which surveyed 1,005 Singaporeans and permanent residents (PRs) aged 18 to 65 on perceptions for long-term care, as well as 1,075 Singaporeans and PRs – including 249 caregivers – to better understand experiences and challenges in dementia caregiving. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'This white paper is a call to action for individuals, families and institutions to plan proactively, because the long-term care challenge is already at our doorstep,' added Phau. Significant gaps Singlife's research revealed a significant gap in both awareness and financial preparedness among Singaporeans regarding long-term care. While long-term care costs close to S$3,000 per month on average, Singlife found that more than half of those surveyed underestimate the amount. Since a similar study in 2018, costs have increased by S$628, reflecting an annual inflation rate of around 4 per cent. Given the prolonged nature of care and compounding inflation, these costs are likely to escalate even further. However, Singapore's national insurance schemes – namely ElderShield and CareShield Life – currently offer coverage of only up to S$662 per month. This leaves a significant shortfall that could be bridged by private long-term care supplementary insurance plans. Yet, two-thirds of Singaporeans aged 30 and above have not taken up such coverage and may have to rely on personal savings or family support, potentially placing additional strain on their retirement funds. This lack of preparedness is especially concerning given the typical duration of care. Singlife's claims data from 2010 to 2024 showed that individuals require long-term care for an average of 10 years. In some cases, the need is even longer, with Singlife's longest active claimant receiving monthly payouts for more than 15 years. Long-term care is not limited to seniors either, given the youngest claimant was just 32 years old at the time of their claim. Being prepared In light of these findings, the white paper puts forward a series of recommendations including a renewed focus on early detection, intervention and prevention of conditions such as strokes, which remain a leading cause of long-term care insurance claims. At the launch event, Singlife also hosted a panel discussion on preparing for the rising demand for long-term care individually and collectively. 'You have to be prepared financially and not think government grants will be enough, as healthcare costs are coming up quickly,' said panellist Jason Foo, chief executive at Dementia Singapore. This is where insurance plays a key role to protect oneself financially, he added. The sum assured for Singlife's long-term care products are as low as S$200 and its premiums can be drawn from one's Central Provident Fund, noted fellow panellist Helen Shen, group head of products at Singlife. She also highlighted that while many feel they are too young to sign up for such coverage, it is more financially sustainable to get insured as early as possible. 'You are not just protecting yourself, you are also protecting your loved ones who will have to look after you,' added Shen.
The Star
01-07-2025
- Business
- The Star
Global investors double down on Chinese assets
China's resilient economy, robust growth potential and improving corporate profitability are fueling more optimism and renewed interest in Chinese assets among foreign investors. Driven by China's advancements in technology and rising confidence in its policy support to stabilize economic growth in the second half of the year, global investors are ramping up their exposure to Chinese equities and bonds. Major foreign financial institutions, including United States asset manager Franklin Templeton, investment bank Goldman Sachs and Swiss bank UBS have stepped up their allocations or expressed optimism about Chinese equities, citing favorable valuations, a peak in China-US trade tensions and optimism regarding China's artificial intelligence-led transformation. Market watchers and economists said that a combination of proactive fiscal measures, targeted industrial policies and accelerating technological innovation is reinforcing China's appeal as a destination for global capital. According to data released on Monday by the National Bureau of Statistics, China's factory activity gauge improved marginally in June, as the official purchasing managers index for the manufacturing sector came in at 49.7 in June, up from 49.5 in May. Notably, the PMIs for equipment manufacturing, high-tech manufacturing and the consumer products sector came in at 51.4, 50.9 and 50.4, respectively, remaining in expansion territory for two straight months. "The story of China now is about growth," said Fang Dongming, head of China Global Markets at UBS. Foreign investors will be attracted as long as companies promise growth and profit, whether it is in technology, healthcare, new energy or new types of consumption, Fang said. Multibillion-dollar US fund manager Franklin Templeton has started edging back into Chinese stocks for the first time in years, with a group of its funds managing around $2 billion buying into Chinese stocks in recent weeks, Zehrid Osmani, head of the company's Global Long-Term Unconstrained team, told Reuters recently. The company believes that trade tensions with the US have peaked, and that China is expected to further support its technology giants, according to Osmani. Economists believe that China is well-positioned to achieve its annual growth target of around 5 percent, backed by proactive fiscal policy and moderately accommodative monetary policy. Zhang Xiaoyan, associate dean at Tsinghua University's PBC School of Finance, said that China's top leadership may sharpen its focus on ensuring domestic economic stability and maintaining stable relationships with its trading partners, which would further boost the confidence of domestic and foreign investors in the Chinese economy. Liu Qiao, dean of Peking University's Guanghua School of Management, said that new policy tools in the second half might include fiscal transfers or cash subsidies for low-income groups, and supportive policies to address pressure on enterprises, especially listed companies, which would improve corporate cash flow and strengthen investment appetite. Driven by this favorable policy environment and long-term opportunities in sectors like technology, new energy and advanced manufacturing, global asset managers are reassessing their China allocations. The return of global capital is reflected in broader data. According to Goldman Sachs, global active funds have increased their China equity allocations from 5 percent in late September to 6.4 percent by late April. The investment bank maintains an "increase" stance for Chinese stocks, citing improving corporate profitability, foreign capital inflows and long-term value in yuan-denominated assets. Fu Si, China portfolio strategist at Goldman Sachs, has forecast that the CSI 300 Index — tracking 300 heavyweight stocks in Shanghai and Shenzhen — could reach 4,600 points, about 10 percent above current levels. Similarly, the MSCI China Index, widely tracked by global investors, is expected to rise another 10 percent in the coming months, supported by its current price-to-earnings ratio of just 11.5. Goldman Sachs also identified artificial intelligence as a key growth driver. It estimated that AI proliferation could lift the overall profitability of Chinese stocks by 2.5 percent annually over the next decade. China's AI breakthroughs may attract $200 billion in fresh capital into its equity market, potentially driving stock prices up 15 to 20 percent. Zhang Di, chief macro analyst at China Galaxy Securities, highlighted that new policy-based financial instruments are likely to be introduced soon to support economic growth. "That will help support the growth of infrastructure and real estate in the second half of the year. And the focus will also be placed on supporting technological innovation, consumer-related infrastructure, and key sectors such as trade-in deals for consumer goods," he said. According to Nomura Orient International Securities, Chinese equities could outperform global peers in the second half of 2025. Factors include expectations of more supportive policy, improving domestic liquidity, and rising global interest in Asia-Pacific markets amid a weaker US dollar. Market performance so far reflects rising confidence. The Shanghai Composite Index has gained about 5.6 percent so far this year, while the CSI 300 is up over 3 percent. Meanwhile, the Hang Seng Index in Hong Kong has surged over 23 percent this year, second only to South Korea's KOSPI, which saw a 28 percent increase. - China Daily/ANN
Associated Press
30-05-2025
- Business
- Associated Press
Qubic Launches On-Chain Learning Platform to Support Ecosystem Growth
Ile Du Port, Mahe, Seychelles, May 30, 2025 (GLOBE NEWSWIRE) -- The Qubic team has launched Qubic Academy v1, a self-paced educational platform aimed at helping new users, contributors, and developers understand the mechanics behind the fast-growing decentralised protocol. Available now at the Academy features short lessons, interactive modules, and on-chain quiz tracking. It's designed to give participants a clear understanding of Qubic's architecture - including its Useful Proof of Work model, decentralised consensus, compute layer, and unique token economy. Built to Demystify a Complex Ecosystem Qubic's architecture is technically ambitious -blending AI, distributed compute, and governance. That complexity can sometimes make onboarding difficult for newcomers. 'Qubic Academy is a critical step in lowering the barrier to entry for anyone curious about what makes this protocol so powerful. We're building something that blends compute, coordination, and community, and that kind of innovation needs to be both understood and accessible. This launch is about empowering contributors, not just informing them. It's the beginning of an education engine designed to scale alongside the network.' — TalentNodes, Chief Operations Officer, Qubic Qubic Academy v1 introduces a clean, browser-based learning experience. Lessons are grouped into structured modules, each ending with a quiz. Progress is saved locally, and future versions are expected to include on-chain credentials and contributor badges. Initial modules cover topics such as: A Long-Term Play for Ecosystem Expansion While Qubic Academy v1 is fully live, the team sees it as a foundational release rather than a finished product. Plans are already in motion for deeper technical modules for developers. The release also comes at a time of rapid ecosystem growth. With mining activity rising and more developers joining the ecosystem, Qubic is preparing for broader adoption - and a more informed community. About Qubic Qubic is a high-performance Layer 1 blockchain, verified by CertiK as the Fastest Blockchain in the World. Designed for real-time decentralized compute, Qubic is powered by uPoW and a tick-based consensus mechanism, enabling zero-fee transactions, instant finality, and unmatched throughput. Qubic unlocks scalable infrastructure for the next wave of innovation across AI, DePIN, DeFi, and AGI-level applications. To begin learning, visit: For media inquiries, contact: [email protected] Disclaimer: Jennifer King jen(at)
Time of India
30-04-2025
- Sport
- Time of India
Rise of Sebastian Antero: A glimpse into the life of NHL's finish star
Sebastian Aho #20 of the Carolina Hurricanes prepares for a face off (Credit: Getty Image) On July 26, 1997, Sebastian Antero Aho was born. In Rauma, Finland. The small coastal city is known for its historic charm. And its strong hockey culture. Growing up there, Aho was surrounded by the sport. That too from an early age. In Finland his father, Harri Aho, was a professional hockey player. Sebastian's understanding of the game shaped by Harri's experience helped. The younger Aho quickly developed a passion for hockey. As by spending countless hours on the ice. He has mentioned her as a key source of support but keeps details private. Sebastian's mother has remained out of the spotlight. His younger brother, Jesperi, also pursued hockey. He is playing in Finland's top league. Aho's talent became evident. During his time in the Finnish Liiga with Oulun Kärpät. His performance there made him a top prospect. That too for the 2015 NHL Draft. The Carolina Hurricanes selected him 35th overall. This is marking the start of his North American journey. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Hollywood Slimming Secret Got Her Canceled – Find Out Why! nutritiouslivingtips Learn More Undo Breaking Into the NHL: Rookie Success and Records Is Sebastian Aho an NHL Superstar?? @Chevrolet Aho made his NHL debut in October 2016, a month later, against the Washington Capitals he scored his first goal. By December 2016, against the Philadelphia Flyers he netted his first hat trick. His clutch performances solidified his role as a cornerstone for the Hurricanes. Life Off the Ice: Privacy and Priorities Sebastian Aho #20 of the Carolina Hurricanes skates during warm up prior to Game Four (Credit: Getty Image) Unlike many athletes, Aho keeps his personal life guarded. He has never publicly confirmed a relationship. His social media focuses solely on hockey, workouts. The property offers privacy, a priority for the reserved forward. When not on the ice, he enjoys low-key downtime. This is often away from the public eye. Family remains important to him. He stays connected to his roots in Finland, visiting during off-seasons. His brother Jesperi's rising career adds to the family's hockey legacy. Aho avoids flashy displays, preferring a quiet, disciplined lifestyle. Read more: Lightning's late collapse puts Panthers on brink of victor The Future: A Long-Term Hurricane In July 2023, Aho signed an eight-year, $78 million extension with Carolina. Through the 2031-32 season. The deal keeps him with the Hurricanes. His commitment to the franchise reflects mutual trust and long-term vision. He is already among the team's all-time leading scorers, at 26. Over 200 goals and 250 assists, his career stats stands. Sebastian Aho emerged from Finland's hockey culture to NHL success. Born in Rauma, he learned from his pro hockey father. Carolina drafted him in 2015. He quickly became their key player. Rookie records and playoff performances showcased his talent. He keeps his personal life private. In 2023, he signed a contract extension. At 26, he's already a Hurricanes scoring leader. His career shows quiet dedication and elite skill. Aho's story keeps unfolding season by season.
