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BE International Conferred Asia’s Most Prominent CSR Awards under Social Empowerment Category

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TAIPEI, TAIWAN – Media_OutReach – 11 June 2019 – A total of 64 projects and business leaders across 16 countries in Asia were selected as recipients of Asia Responsible Enterprise Awards (AREA) 2019, an increase of 19% from last year. Regarded as the top corporate social responsibility awards in Asia, this year’s ceremony was organized in Taipei, after being held in Macau, Singapore, Bangkok, and Manila previously.
Organized by Enterprise Asia, the leading non-governmental organization for responsible entrepreneurship in Asia, the AREA aims to recognize and honor Asian businesses and leaders for championing sustainable and socially responsible business practices. The award categories are social empowerment, investment in people, health promotion, green leadership, corporate governance, and responsible business leadership. Some of the dignitaries who graced the event include Mr. Chang San-cheng, former premier of the Republic of China (Taiwan) and Mr. Hou Yu-Ih, mayor of New Taipei City.
Leading the list of winners under the social empowerment category was BE International Marketing Sdn. Bhd. with their project “Transforming the Lives of Children in Vietnam, Myanmar & Malaysia”.
Founded in 2017, BE International is a young, energetic and innovative MLM company which holds the motto of “BEyond Inspiring Minds, Touching Lives for Eternity”. The Company develops quality products, improve the lives of their independent business owners, inspiring them to be better.
BE International believes that every bit of contribution helps if they want to impact the lives of everyone in the world. In June 2018, they collaborated with World Vision Malaysia’s Child Sponsorship Program and committed to donate RM200,000 to improve the lives and living conditions of children in Vietnam, Myanmar and Malaysia. The Company believes that by empowering the children, they can understand what it means to be supported and in turn grow up to give back to the community and society at large.
A month before the project took place, BE International informed and educated their independent business owners on the details of the CSR project. To kickstart, they selected AULORA PANTS with Kodenshi as the main driver of the campaign to solidify engagement of the CSR project. The mechanics of the engagement was, with every purchase of AULORA PANTS with Kodenshi, BE International will donate RM10 to World Vision Malaysia.
With the same spirit of contribution and vision, everyone in BE International contributed their efforts by promoting the product across the world. Thanks to the unrelenting efforts of the independent business owners, sales and promotion soared high from Malaysia, to Singapore, Brunei, Indonesia, Hong Kong and even to more than 40 countries worldwide.
Achievement and Impact The project engagement and results surpassed everyone’s expectation. By the end of June 2018, BE International donated RM360,000 to World Vision Malaysia which far exceeded the initial RM200,000 target.
World Vision Malaysia utilized the funds to sponsor 50 children in Myanmar and another 50 in Vietnam for 3 years. In addition, part of the funds were also channelled to the Malaysian Assistance Funds to assist communities in Sabah, Malaysia. The monetary contribution was used to invest in community-wide development work within the children’s community, and for holistic projects to improve the well-being of children, families and communities in the areas of clean water and sanitation, health and nutrition, education, livelihood, and child protection. Occasionally, BE International will receive updates from the children through letters and cards to keep track of them and understand their current status and welfare.
Future Direction At the end of three years, BE International’s representatives will pay a visit to the children’s community to better understand the development work that is being carried out. They will endeavour to understand the impact of their sponsorship and to utilize the knowledge further enhance their CSR program. In the near future, BE International will begin to organise CSR projects that holds significant benefits to multiple stakeholders, including the society, their customers and their independent business owners. *** About Enterprise Asia *** Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. For more information, visit: https://www.enterpriseasia.org/. *** About Asia Responsible Enterprise Awards *** The Asia Responsible Enterprise Awards recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.

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Oil extends losses on worry over possible supply increase from OPEC

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Oil extends losses on worry over possible supply increase from OPEC 1

By Yuka Obayashi

TOKYO (Reuters) – Oil prices fell more than 1% on Tuesday, extending losses that began last week, as investors unwound long positions on concern that OPEC may agree to increase global supply in a meeting this week and Chinese demand may be slipping.

Brent crude dropped 78 cents, or 1.2%, to $62.91 a barrel by 0138 GMT, after losing 1.1% the previous day. U.S. West Texas Intermediate (WTI) crude slid 74 cents, or 1.2%, to $59.90 a barrel, having lost 1.4% on Monday.

Investors are worried the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, will boost oil output, said Hiroyuki Kikukawa, general manager of research at Nissan Securities.

“Oil prices remained under pressure as investors were making position adjustments ahead of the OPEC meeting,” he said.

The group meets on Thursday and could discuss allowing as much as 1.5 million barrels per day (bpd) of crude back into the market.

OPEC oil output fell in February as a voluntary cut by Saudi Arabia added to reductions agreed to under the previous OPEC+ pact, a Reuters survey found, ending a run of seven consecutive monthly increases.

Market sentiment was also dampened by weak manufacturing data out of China, Nissan Securities’ Kikukawa said.

China’s factory activity growth slipped to a nine-month low in February, which may curtail Chinese crude demand and pressure oil prices.

(Reporting by Yuka Obayashi; Editing by Tom Hogue)

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Dollar holds advantage over low-yielders, A$ looks to RBA

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Dollar holds advantage over low-yielders, A$ looks to RBA 2

By Hideyuki Sano

TOKYO (Reuters) – The dollar stood firm against its low-yielding peers on Tuesday on bets of a faster economic recovery and greater tolerance of higher U.S. bond yields, while the Australian dollar looked to guidance from the country’s central bank.

The dollar index last stood at 91.014, having hit a three-week high of 91.139 overnight, with its February peak of 91.600 seen as a possible next target.

The U.S. currency rose to 106.89 yen on Monday, its highest since late August, and last stood at 106.84 yen while the euro dipped to $1.2049, near its lowest level in almost two weeks.

The common currency was under pressure as top officials from the European Central Bank sounded alarm over rises in bond yields.

President Christine Lagarde said on Monday the ECB will prevent a premature increase in borrowing costs for firms and households.

Policymaker Francois Villeroy de Galhau was even more explicit, saying some of the recent rises in bond yields were unwarranted and that the ECB must push back using the flexibility embedded in its bond purchase programme.

Traders were quick to sense the marked difference in tone between the ECB and the Federal Reserve.

Richmond Federal Reserve President Thomas Barkin said on Monday the uptick in long-term bond yields so far seems to suggest an adjustment to stronger growth and inflation outlook.

Atlanta Fed President Raphael Bostic said last week that bond yields remain comparatively low, while Federal Reserve Chair Jerome Powell has also shown no undue concerns about rising bond yields.

“Central banks continue to take diverging views on the signals sent by the recent rise in yields. The U.S. Fed is taking it as a positive signal,” Tapas Strickland, director of economics and markets at National Australian Bank in Sydney, said in a note.

The U.S. economic recovery is also seen on a firmer ground, already bolstered by prospects of a $1.9 trillion relief package from the Biden Administration and successful rollouts of COVID-19 vaccinations.

A survey by the Institute for Supply Management (ISM) released on Monday showed U.S. manufacturing activity increased to a three-year high in February amid a surge in new orders.

As a result, the gap between U.S. and European bond yields has been widening in a boost to the dollar; the 10-year yield differentials between U.S. Treasuries and German Bunds reached 1.76% on Monday, the highest in a year.

The safe-haven Swiss franc softened to a near four-month high of 0.9160 franc per dollar overnight and last stood at 0.9146.

Against the euro, the franc changed hands at 1.1023 to the euro, not far from a 1-1/2-year low of 1.1098 touched last week.

The Australian dollar traded at $0.7774, having risen 0.75% on Monday on rising risk appetite, with focus now squarely on the looming policy meeting of the Reserve Bank of Australia.

The RBA’s monthly policy meeting on Tuesday is widely expected to reinforce its forward guidance for three more years of near-zero rates.

It has stepped up bond buying following the global bond market rout, and any further warning against rising yields could cap its latest rebound, analysts said.

“The market has been in a euphoria for some time and everybody says the dollar will weaken on rising risk appetite. But oil prices dipped yesterday and gold also slipped. If commodity markets are waking up to the reality, then we could see some weakness in commodity-linked currencies,” said Makoto Noji, chief FX strategist at SMBC Nikko Securities.

Elsewhere, bitcoin also jumped back in tandem with gains in risk assets, trading at $49,129 and pulling away from Sunday’s three-week low of $43,021.

(Reporting by Hideyuki Sano; Editing by Shri Navaratnam)

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Business

Disney CEO says households without kids have boosted streaming success

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Disney CEO says households without kids have boosted streaming success 3

LOS ANGELES (Reuters) – Surprisingly strong interest from adults who do not have kids at home has helped increase subscriptions to Walt Disney Co’s Disney+ streaming service beyond initial projections, Chief Executive Bob Chapek said on Monday.

Disney+ debuted in November 2019 and growth has exceeded Wall Street expectations and Disney’s forecast. While Disney is known for family entertainment, Disney+ also features movies and TV shows from Marvel, “Star Wars” studio Lucasfilm and others.

As of Jan. 2, Disney+ had signed up 94.9 million customers worldwide. Half of those live in households without children, Chapek said, a higher proportion than expected.

“What we didn’t realize was the non-family appeal that a service like Disney+ would have,” Chapek said via online video to the Morgan Stanley Technology, Media and Telecommunications Conference.

“In fact, over 50% of our global marketplace don’t have kids,” he added. “When 50% of the people in Disney+ don’t have kids, you really have the opportunity now to think much more broadly about the nature of your content.”

The service has generated buzz for current Marvel show “WandaVision” and “Star Wars” series “The Mandalorian” featuring the character known as Baby Yoda.

Chapek, who became Disney CEO a year ago, refocused Disney’s media and entertainment businesses to make streaming the priority as customers gravitate to options such as Netflix Inc.

In December, Disney raised initial projections and said it expected to attract as many as 350 million global subscribers across all of its streaming services, which include Hulu and ESPN+, by the end of fiscal 2024.

(Reporting by Lisa Richwine; Editing by Sonya Hepinstall)

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