In the Eye of Southeast Asia’s COVID-19 Surge

March 22, 2021

Only countries that have won the battle against COVID-19 can fully reopen the economy. Others face difficult balancing acts. Southeast Asia is no exception.

I am writing this column in Pasay City, at the eye of Southeast Asia’s new pandemic surge. In late February, Pasay, a major destination hub of Metro Manila, reported the highest number of Covid-cases and second highest in the Philippines. Today, the city’s General Hospital is nearing full-bed capacity.

Pasay City is no longer alone. Today, the case numbers are still higher in other cities. The Philippines has hit its highest single-day increase one day after another and by March 20 the number of recorded daily COVID-19 cases surpassed 8,000.

As new variants and new spikes are spreading from Europe, United States and Brazil into lower-middle and low-income economies, emerging Southeast Asia is among the first world regions facing the new surge.

Considering China’s lessons in pandemic containment, reopening of the economy becomes viable only when COVID-19 is contained. Only a few countries in Southeast Asia fulfill the essential requirements for the full reopening.

Spikes, variants in Southeast Asia

In Southeast Asia, the effectiveness of the pandemic containment can be measured by daily new confirmed infection cases per million people. In that view, the cases first soared in Singapore, which has been able to reduce the numbers dramatically. Excluding the high-income city state, the status quo is very different in emerging Southeast Asia (Figure 1).

Figure 1: Daily new confirmed COVID-19 cases per million people

Source: Johns Hopkins (7-day rolling average), DifferenceGroup (March 19, 2021)

From March to late fall 2020, Philippines had more per capita cases than the rest of the region. In the past four months or so, Malaysia has dominated the numbers. That changed after the first week of March, when cases in the Philippines surged across those in Indonesia and by mid-month across those in Malaysia.

The rest of Southeast Asia – including Thailand, Myanmar, and Vietnam – has experienced surges as well. But on per capita basis, none of them match those of the big three: Philippines, Malaysia and Indonesia.

In addition to increased complacency and uneven enforcement, record case numbers in emerging Southeast Asia have been fueled by local transmissions and returning overseas workers and, most recently, by the new, more transmissible and harmful variants – as I projected first in late spring and again in late summer 2020.

Belated vaccination drives

The vaccination drives are picking up pace in the advanced economies, in part at the expense of the poorer countries. As some major economies have been hoarding vaccines, they have boosted excessive price levels and delayed deliveries elsewhere in the world.

Measured by COVID-19 vaccine doses per 100 people, the high-income Singapore is obviously in a class of its own with almost 14 doses daily per 100 persons. Excluding Singapore, the drives have started at varying pace across in Southeast Asia (Figure 2).

Figure 2: COVID-19 vaccine doses administered per 100 people

In the current status quo Indonesia is well ahead Malaysia and Cambodia, followed by Laos and Myanmar (until its ongoing turmoil). The four are tailed by the Philippines, Thailand and Vietnam. But unlike Thailand and Vietnam, the Philippines has a very high number of cases.

Restricted mobility slows recovery

Targeted restrictions and lockdowns hold back recovery in Southeast Asia, especially in economies where caseloads remain high. A key role in these recoveries belongs to mobility. Restrictions seek to reduce interactions among people; mobility fosters those interactions. That’s why mobility is critical to the reopening of the economy, and why it also worsens pandemic risks.

Through the emerging Southeast Asia, all governments face a challenging balancing act. How to navigate between a premature reopening of the economy and excessive case numbers? The decisions will be most challenging in those countries that have suffered steepest contractions and highest case numbers.

In terms of mobility, the Philippines, like much of Southeast Asia, took a severe hit in early 2020. As most people had to stay at home, the residential dimension surged to more than +30 percent. All critical mobility dimensions – groceries and pharmacies, parks and workplaces, retail and recreation, and particularly transit stations – suffered a decline of -50 to over -80 percent, each (Figure).

Figure 3: Change in visitors by category

Source: Google Mobility Trends, DifferenceGroup (March 16, 2021)

After the hard quarantine periods, all dimensions were recovering until Christmas holidays. Thereafter progress was halted. Currently, only groceries and pharmacies are operating close to the pre-pandemic normal. Parks and workplaces are about 20 to 25% below normal, and retail nearly 35% under capacity. Transit stations remain over 45% down.

Shrinking policy space, national unity vital

In late 2020, emerging Southeast Asia returned to its expansionary terrain. While policymakers must focus on reducing the short-term economic fallout, the pandemic will have long-lasting effects.

Those economies that are most reliant on tourism will suffer longer scarring than their peers. China’s early recovery will benefit countries that are broadening trade, investment and exchange ties with the mainland. Trade-dependent countries must cope with US-Sino tensions and Washington’s continued protectionism.

Interest rates have been reduced across Southeast Asia. In some they are already low (Thailand). In others, there is still policy room (Philippines). In still others, they remain relatively high (Indonesia, Vietnam). Rate hikes are not likely in 2021, as fiscal authorities and central bankers must ensure accommodative conditions.

In the past year, public debt levels have understandably climbed fast, yet remain 40% to 60% of GDP in Malaysia, Philippines, Thailand, and Indonesia. It will take another 1-2 years until fiscal measures are rolled back.

External vulnerability, measured by reserves to gross external financing, is higher in Indonesia and Malaysia, which need additional buffers against volatility, but relatively lower in Philippines and Thailand.

In domestic politics, the pandemic crisis is testing all economies worldwide, including emerging Southeast Asia. In Thailand, longstanding polarization continues to simmer. In Myanmar, it has resulted in violent conflict. In Vietnam, friction is subdued officially. In Malaysia and Indonesia, political divides have intensified. In the Philippines, the 2016 meltdown of the Liberal Party has led some of its former leaders to questionable efforts to use the crisis to position for the 2022 election.

The human and economic costs of the pandemic crisis are far too high exploit in politics. As the past months have shown, those countries that can pull together in a time of crisis will recover faster, whereas those where political games predominate won’t. Southeast Asia will be no exception.

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About the Author

Dr. Dan Steinbock is an internationally recognized strategist of the multipolar world and the founder of Difference Group. He has served at the India, China and America Institute (USA), Shanghai Institutes for International Studies (China) and the EU Center (Singapore). For more, see https://www.differencegroup.net

From Taylor Swift to BTS: Grammys 2021 Was a Much-needed Spectacle of Artistic Glory

March 22, 2021

The 2021 Grammy Awards held last March 14 was, by all means, unconventionally spectacular on all accounts. From showcasing household names like Taylor Swift to nudging a step in the direction for more inclusion through BTS, it was an awards night uniquely like no other.

Grammy Awards 2021, taking inspiration from its predecessor year, was entirely different in every possible way you could imagine. The almost four-hour award show was hosted by CBS, where its socially-distanced music stars sat in a huge marque outside the LA Convention Center, following the pandemic restrictions for event gatherings.

This isn’t to say this hindered the overall glamour surrounding this prestigious body of musical recognition, as much of the night’s success can be attributed to executive producer, Ben Winston, who made his Grammys debut amidst all odds from the show even being greenlighted this year.

The six-week delay from its proposed airtime gave the world-class producer enough time to make the necessary changes and coordinate with various teams on how to best give viewers at home a mimicry of a live concert show, one most people have been longing to attend since the start of lockdown.

“I know that you haven’t been able to go to a concert in a long time,” said host Trevor Noah, also ‘The Daily Host’ regular. “So tonight we’re bringing the concert to you.”

Winston achieved this effect splendidly; his telecast moved breezily across multiple stages, stuck to the script and didn’t fill in odd silences with awkward fillers, but most importantly, he highlighted a huge and diverse array of music that allowed the various attending artists to showcase their talents at their peak condition.

In the previous Grammys, it was almost expected and normalized for any show to have its inevitable highs and embarrassing lows, as is with any high-profile event. But the performances from last Sunday night, from headliner Harry Styles in his suave rendition of ‘Watermelon Sugar’ to up-and-coming Bilie Eilish’s heart-wrenching ‘Everything I Wanted’; each set was efficiently and elegantly managed to present these singers artisty in their utmost prime.

In the previous Grammys, it was almost expected and normalized for any show to have its inevitable highs and embarrassing lows, as is with any high-profile event.

Many long-time enthusiasts of the Grammys expected the night to be another coronation sweep for mega-artist Taylor Swift, whose pandemic-fuelled album ‘Folklore’ earned her six Grammy nominations alone and some of her most career-changing reviews. But, to their half-surprise, she ended up taking 0 to 5; only having been reinstated towards the ends as she went on to take ‘Album of the Year’, placing her in history as one of the four people who took home 3 AotY awards.

This has put her name with the likes of triple Album of the Year winners Frank Sinatra, Stevie Wonder, and Paul Simon in achieving this feat. Swift previously won the award in 2010 with pop album ‘Fearless’, then later on in 2016 with her memoir-inspired coming-of-age album ‘1989’.

Eilish, who famously dominated last year’s awards, hadn’t made much of a splash during the rest of the evening either. Despite dominating the 2020 Grammys with an all-kill at only 18, when she swept all four general field categories, making her the first female and youngest artist to do so and the youngest solo act to win the prestigious Album of the Year award. This year she had won only best song written for visual media, for pop-funk “No Time to Die.” Record of the year also went to Eilish, who spent much of her speech apologizing to Megan Thee Stallion for winning.

Perhaps one of the most disappointing feats of the night was the snubbery of South Korean boy group, BTS, when they lost the award for best pop duo/group performance to Lady Gaga and Ariana Grande’s collaboration ‘Rain on Me’. Their fans took to Twitter to call out the awarding body of their blatant dismissal of non-Western acts and people of color in general, trending #SCAMMYs worldwide to drive their point further.

The 7-member group still made history by delivering one of their best performances yet, in a high-energy, sharply-produced performance of their hit mixed-language song ‘Dynamite’. This was the group’s third appearance in the prestigious awards show, first in 2017 then 2020. This historic appearance also marks the first time a South Korean act performed one of their original songs at a Grammys show.

The slow acceptance of a predominantly Western awarding body to non-Western acts is a step in the right direction for the much-needed change towards more inclusion. Even as pop culture sensation BTS went home empty handed, their unrivalled status as official Grammy performers and nominees is a nudge towards a more welcoming Grammys stage in the future; one that is truly global and interconnected for acts of all origins.

There were over a dozen performances at the Grammys on Sunday night, the viewers also got to see the vivacious duo of Cardi B and Megan Thee Stallion, as well as a politically resonant song from Lil Baby and Killer Mike.

The 2021 Grammys Awards was a showcase of talent like no other. The careful stage management, exemplary sound mixes, and the perfect blend of live and pre-taped moments, the constant set changes to accommodate different artists; everything was set up in order to give both the attendees and viewers a much-needed spectacle to distract them from the woes of daily isolation.

The 3 and a half hour music-industry infomercial was a night filled with appreciation for the craft that is music, songwriting, lullabies, melodies, and everything else in between. This gave the musicians the much-needed release for their musical output that has been kept hidden for over a year, as well as feed the home audience live music they have been starved off for just as long.

With careful steps not to turn it into a telethon or a staggering broadcast, nearly 9 million people tuned in to the 2021 Grammys with a contented heart. The show did a spectacular job of putting a spotlight on the many music and entertainment venues whose lifelines have been threatened by the pandemic.

Here is to looking forward to next year’s no doubt majestic one!

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About the Author

Pamela Rhyan is a writer for The World Financial Review. She crafts timely blog pieces about trending business acumen, changing leadership dynamics, emerging finance and technology trends, and how these spaces intersect from a millennial’s perspective. She also works as an editor and content strategist to the sister publications of The World Financial Review.

Data Transfers After Brexit

March 20, 2021

By James Castro-Edwards

The departure of the United Kingdom from the EU at end of the transition period on 1^st January 2021 has resulted in changes to data protection rules. These changes will affect businesses that share personal information about their customers, staff and suppliers between the UK and Europe. In the short term at least, data transfers can continue as before thanks to a ‘bridging mechanism’ agreed in December, however this is not a permanent solution. Further, while data protection law in the UK and the EU is currently aligned, it may diverge in the future. Businesses that share personal data between the United Kingdom and Europe must keep an eye on the potential changes, so that they can prepare.

Data Transfers

The General Data Protection Regulation (GDPR) prohibits the transfer of personal data from countries in the European Economic Area (EEA) to ‘third countries’ that do not ensure an adequate level of protection. The EEA consists of the EU Member States, plus Norway, Iceland and Liechtenstein. The UK became a ‘third country’ on the first of January this year, when the transition period ended. Under the GDPR’s data transfer provisions, organisations in the EEA would ordinarily be prevented from sharing personal data with their UK counterparts unless they have implemented appropriate safeguards. Prior to the end of the transition period, there was widespread concern that a ‘no deal’ Brexit could restrict the sharing of personal data between Europe and the United Kingdom. Clearly, this would be problematic for business.

The EU and the United Kingdom concluded a Trade and Cooperation Agreement on 24^th December 2020, thereby averting the problem in the short term, at least. Among other things, the Agreement provides a bridging mechanism which enables the continued flow of personal data from the EEA to the UK for up to six months (until June 2021). The bridging mechanism is intended as an interim measure to allow time for the European Commission to finalise its adequacy assessment of the UK. An adequacy finding by the Commission would enable personal data to be freely transferred between the UK and the EU Member States.

It is not a forgone conclusion that the Commission will make such an adequacy finding in favour of the UK. One significant obstacle is the controversial Investigatory Powers Act 2016, aka the ‘Snoopers’ Charter’. A criticism of the Act is that it confers excessive powers on the government to carry out indiscriminate surveillance. Excessive government surveillance powers were essentially what lead the European Court of Justice (CJEU) to declare the EU-US Privacy Shield to be invalid. Accordingly, the UK not being granted an adequacy decision is a genuine possibility. There is also an important proviso regarding the bridging mechanism; if the UK amends its domestic data protection laws without the agreement of the EU, the bridging mechanism will be terminated. In the absence of an adequacy finding by June 2021, or if the UK amends the UK GDPR, thereby terminating the bridging mechanism early, businesses would need to rely on an alternative data transfer solution.

The Standard Contractual Clauses

For most organisations that transfer personal data out of the EEA, the appropriate safeguard would be the Standard Contractual Clauses (SCCs). The SCCs enable the transfer of personal data from the EEA to third countries that do not ensure adequate protection of personal data. However, organisations should consider the impact of the Schrems II decision.

Following Schrems II, the European Data Protection Board (EDPB) published recommendations on measures that supplement transfer tools to ensure compliance with the EU level of protection of personal data. The EDPB is an independent advisory body whose function is to ensure the consistent application of the GDPR in EU Member States and to promote cooperation between the European data protection authorities. In its Recommendations, the EDPB observes that controllers and processors that export personal data to third countries must, in collaboration with the data importer, ensure that personal data remains protected. They must verify, on a case-by-case, basis that the law or practice of the third country to which personal data is transferred, does not impinge on the effectiveness of the data transfer solution adopted. Where local law or practice does impinge on the effectiveness of such safeguards, supplementary measures may be adopted to bring the level of protection into line with EU standards. However, the Recommendations state that if EU data protection standards cannot be met, then personal data may not be transferred.

In the case of data transfers from the EEA to the United Kingdom, such analysis would have to take into account the effect of the Investigatory Powers Act. If the Act was found to impinge on the effectiveness of the SCCs, to the extent that no supplementary measures could ensure an EU level of data protection, then data transfers to the UK would be prohibited.

Applicable law

The UK retained the GDPR in domestic law, as supplemented by the Data Protection Act 2018 (as amended). The ‘UK GDPR’ includes the same key principles, obligations as the GDPR in Europe. However, though the UK is now free to amend the legislation. The Government is currently consulting on a National Data Strategy, which has been interpreted by some as an indication that that UK data protection law may be amended in the near future. If the UK GDPR were to significantly diverge from its European equivalent, this could potentially result in the termination of the bridging mechanism.

The UK GDPR applies to organisations that are established in the UK and to those that are established outside the UK, but which offer goods or services to, or monitor the behaviour of individuals taking place in the UK. Conversely, UK businesses that offer goods and services to citizens in the EU, or monitor the behaviour of citizens in the EU will be subject to the GDPR. The GDPR will also apply to ‘legacy data’ collected by UK organisations prior to the end of the transition period. Accordingly, UK businesses with a European client base are likely to find themselves subject to both the UK GDPR and the GDPR in the Member States where their clients are located. While the two regimes are aligned, this may not be problematic, however, prudent businesses will keep a keen eye on divergence.

Implications for business

UK businesses that already comply with the GDPR and does not have customers or contacts in the EEA are unlikely to be significantly affected by the changes. UK businesses that receive personal data from contacts in the EEA will need to keep a close eye on the changes and prepare for the possibility of the bridging mechanism ending without an adequacy finding being made. UK businesses with a presence or customers in the EEA will need to comply with both UK and EU data protection rules, and may need to appoint a representative. Businesses should also identify any personal data collected from individuals in EEA countries, prior to 1^st January 2021; in the absence of an adequacy decision, such ‘legacy data’ will remain subject to the GDPR as it applied in the EU on 31^st December. As far as an adequacy decision is concerned, prudent businesses should hope for the best and plan for the worst.

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About the Author

James Castro-Edwards is a solicitor and has specialised in data protection since 2006. James is a partner at City of London law firm Wedlake Bell LLP (https://wedlakebell.com/), where he leads the data protection team, as well as the firm’s outsourced data protection officer service, ProDPO (https://prodpo.com/).

What to Know When Migrating to America in the Future

March 20, 2021

The Land of the Free. The Land of Opportunity. These are but some of the names that are given to the United States and which draw in hundreds of thousands of people each year.

With approximately 13.7% of residents in the United States foreign-born nationals, there is no surprise that more people each year possess the desire to move there.

With that in mind, some things should be remembered when wanting to migrate to America, which we will be discussing a bit further below. Achieve your life-long dream and read on for more.

Documentation and Residency Permits

Naturally, this is something that is on the top of a lot of people’s lists when deciding to move to the country. Whether you are moving as an individual or planning to move with your entire family, some processes and protocols must be followed to do this.

Using the services of an immigration lawyer, provided by law firms like Farmer Law PC, ensures that you will be guided through the documentation process in as stress-free a way as possible.

Whether you are interested in obtaining an employment-based visa or something similar, law firms like this will be able to achieve this for you. You will be living in your desired location in no time.

Furthermore, using services like these can minimize the risk of you meeting any obstacles further down the line; not something you want when you have settled in your new home.

Healthcare Differences

While the healthcare on offer may well be some of the best in the world, it should be noted for those who are not already aware that there are stark differences between the healthcare system and that of other countries.

Mainly if you are moving from a country where you have free access to healthcare, this is not the case in the US. Ensuring that you have adequate health insurance for yourself and anyone who is moving with you will guarantee that you will be able to access services as and when you need them.

Paying Taxes

Much like other countries worldwide, you should expect to pay some sort of tax on your income. If you earn a significant wage, you should expect to pay more tax than someone who makes much less than you.

Furthermore, if you migrate from the UK to live in the United States, you will be familiar with being taxed on something that you purchase at the local supermarket. However, unlike the UK, the sales tax is added at the point of purchase, rather than while the item is still on the shelf.

This is something that should be remembered when moving to the country; you don’t want to find yourself a few cents short as you miscalculated how much something was going to cost!

We hope that this piece has provided insight into some of the things that should be remembered when moving to the United States. Go forth with confidence that your journey will run smoothly and thoroughly enjoy this new chapter of your life!

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Elon Musk Says Dogecoin Could Be the Future of Cryptocurrency

March 18, 2021

In a series of tweets since January, Tesla CEO Elon Musk has been promoting the Japanese Shiba Inu-themed digital currency, Dogecoin, as “people’s crypto.”

The richest man in the entire world has been steadily turning heads with his increasing interest in the cryptocurrency sector, particularly with dogecoin recently. Founded in 2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin is an open-source peer-to-peer cryptocurrency that began as an inside joke shared among traders that, thanks to Elon Musk’s viral tweets, began its ascent into a genuine cryptocurrency player.

Dogecoin today remains the 13th most valuable cryptocurrency in the world, with a market cap nearing $8 billion as it is. It’s recent price surge has seen it rise in value from less than $0.01 as the year started to just over $0.08 and growing.

Much of its growing traction can be attributed to Tesla and SpaceX’s CEO constant tweets and memes, as well as tangible evidence of his support for the sector by investing $1.5 billion in cryptocurrency earlier this year. Elon Musk himself has said he will buy out major Dogecoin holders in order to help make the infamous virtual currency the “currency of the internet”.

Elon Musk recently overtook Amazon founder Jeff Bezos’ title of world’s richest person by claiming it himself, emboldening him with making jabs at so-called crypto whales who hoard large stockpiles of Dogecoin for their own benefit. These large “crypto whales”, he argues, are the only thing standing in the way of Dogecoin becoming a major, mainstream currency accessible to most.

“The most entertaining outcome is often the most likely,” he said during a recent Q&A session on the app Clubhouse. “Arguably the most entertaining outcome, and most ironic outcome, would be that Dogecoin becomes the currency of Earth in the future.” You can get Clubhouse followers from the websites like increditools.

The billionaire’s support for financial innovation has always been evident in his business choices, perhaps the billion dollar investment is another way for him to showcase just how much, along with hinting at the possibility of accepting Bitcoins as viable payment method for his company’s products.

Meme-fuelled tweets and off-hand comments aside, Elon Musk, known for catapulting disruptive ideas in both transportation and space tourism, is on the path to seriously wagering cryptocurrency as a legitimate, viable financial solution. He states two reasons for this: as a stable store of value for investors and as a reliable medium of exchange that can rival the dollar in everyday economic transactions.

Currently, given its only recent brush with fame and not as established structure as compared to bitcoin, Dogecoin still has a long way to go in terms of becoming a mainstream form of payment; but with the gravity of Elon Musk’s support towards it, it shouldn’t be long until we see the fruits of his labour come up with tangible results.

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Prepare for Real-World Experience: Eight Options To Pursue In Finance

March 18, 2021

The role of finance is vital when performing the growth and developmental activities of any economy. For the layman, finance involves acquiring and managing money. Finance has three subcategories- public finance, corporate finance, and personal finance. Each of these three subcategories requires a different mindset and skillset. However, the principles are the same for all three. So, a finance career involves understanding basic accounting principles and how to raise and manage capital efficiently.

Suppose you’re interested in bonds, stocks, financial markets, and other investment types, and you also love the numbers game. In that case, a finance career is worth considering. To do such a thing, you will require a bachelor’s degree and a basic understanding of financial management fundamentals. These include economics, mathematics, auditing, and accounting. Senior-level jobs require a master’s degree with a few years of working experience. Keeping this in mind, let us move on and look at some distinguished finance career options that you can apply for after graduating. Also, we will share each job’s responsibilities, required qualifications and skillsets, and salary prospects.

Financial Advisor

Financial advisors are responsible for discussing the long and short-term financial goals of a company with its owners. They help create personalized and manageable budgets and advise their clients on making sound financial investments and decisions. Additional duties include- assisting clients with their taxes, maintaining compliance, and ensuring that their business practices are legal and safe.

To work as a financial advisor, you will need a bachelor’s degree in finance, accounting, or business from an accredited institution. You might not need a master’s, but it will undoubtedly add value to your resume and increase your employment chances. A financial advisor’s national average salary is around 87,850 dollars per year. However, the upper ten percentile can earn about 96,000 dollars.

Accountant

An accountant typically has to keep track of incoming and outgoing funds for an organization. They consult with their clients regarding taxes and perform audits to ensure that they utilize their money effectively and legally. They also create financial reports and suggest improvements to a budget plan.

To work as an accountant, you will need a bachelor’s degree in either finance or accounting. After completing an undergrad degree, you will need to obtain a campus-based or an online masters in accounting or finance. You can also go for a doctoral-level accounting or finance degree if you want to increase your pay package. Talking about the pay package, accountants earn a national average salary of around 71,550 dollars per year. Though, the upper ten percentile can make 124,450 dollars annually.

Financial Analyst

A financial analyst’s duties include- assessing an organization’s spending plan, adjusting budgets, creating business plans, and much more. They also predict potential future losses and profits and review or update financial statements accordingly.

To work as a financial analyst, you will need a bachelor’s in accounting, business administration, finance, or any other related degree. Employers often prefer a master’s in the field if you want to apply for a more specialized role. A financial analyst’s national average salary is around 81,590 dollars per year, while the upper ten percentile makes 111,760 annually.

Insurance Agent

An insurance agent’s duties include developing personalized insurance policies, sharing quotations, performing risk analyses through quantitative research, answering their client’s finance or insurance-based questions, and much more. They also pitch new and improved insurance policies to their clients.

To work as an insurance agent, a high school diploma or a GED will be enough. You will also need a state-issued license, which involves passing a state licensing exam. Once obtained, you can expect to make anywhere between 50,940 dollars to 125,500 dollars per year.

Investment Manager

Investment managers, well, advise their clients on making sound financial investment decisions. They also offer advice for buying and selling stocks and bonds, meeting with other investment managers for negotiating agreements, underwriting securities, and much more. Additional duties include overseeing acquisitions and mergers, planning for future investments, and conducting market research.

To become an investment manager, you will require a bachelor’s degree in business administration, accounting, finance, or economics. Employers highly prefer individuals who hold a master’s degree in any field mentioned earlier, especially an MBA. An investment manager’s national average salary is around 68,370 dollars per year, while the higher ten percentile makes 208,000 dollars annually.

Business Teacher

Finance graduates have a skill set that includes presentation and communications skills vital for the teaching profession. Business teachers teach their students the fundamentals of accounting marketing, management, and investments. Finance graduates who have a curiosity for business issues and the business world, in general, will be well-suited for such a role.

To choose a business teacher’s career, you will require a bachelor’s in finance, accounting, or business administration. You then have to obtain a master’s, followed by a Ph.D. According to the BLS, a business teacher’s national average salary is around 83,920 dollars per year. However, the upper ten percentile earns approximately 196,980 dollars annually.

Investment Banker

An investment banker raises money for business entities. They work within financial firms or large banks. They help shape deals related to business expansion, mergers, acquisitions, or sales. It also includes buying or selling an organization’s shares or stocks. As such, it gets done to raise money to meet a company’s business objectives. The role of an investment banker is the same as the role of an investment manager. However, an investment banker usually works for a bank or a finance firm. At the same time, an investment manager can only work in a finance firm.

The minimum educational requirement is a bachelor’s degree in finance, accounting, or business administration to work as an investment banker. While it may be possible to move on to a senior role without a master’s degree, it would hurt your chances of promotion if you acquired one. An investment banker’s national average salary is around 90,000 dollars annually, with job growth of 4 percent till the year 2024.

Portfolio Manager

A portfolio manager’s responsibilities include making investment decisions for an organization’s or individual’s portfolio. They manage investment to achieve a clearly defined objective according to portfolio focus (such as growth, value, or cap), desired return goals, or risk levels. A portfolio manager can handle investments for groups of people, an entire organization, or even a single person.

You will require a bachelor’s degree in finance, economics, business administration, or accounting to become a portfolio manager. A master’s degree in one of these fields will also increase your chances of employment. A portfolio manager’s national average salary is around 129,000 dollars per year.

Conclusion

It will be a wise decision to develop a career plan before you decide to opt for any finance degree or certification. Depending on your experience and educational background, a finance career can help you hone particular skills to help you build a more remarkable and more successful finance career in the years to come. So, go ahead and choose from the finance-based job options mentioned above and choose one that suits you the best.

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10 Reasons Why People Love Hackathons

March 17, 2021

Technology is changing with the passage of each day. So, it is very important to keep yourself updated with all the latest tools and techniques to keep yourself benefited at every point in time. Have you heard about the hackathon? Are you a hackathon addict? People from a business background will never understand and would never expect all things can be done with the help of hackathons. Simply hearing this word sounds amazing, then just imagine what will be the experience with this. So in hackathons coding is done as it is built in a funny game. It keeps on brainstorming ideas and helps in exploring something new.

The day the people have started connecting to this, they are going deep inside into various techniques of UI/UX Design and web development that are very much in demand these days. It is seen different people have an addiction to this because of its so many benefits. The list of reasons people loving hackathons are stated as below:

1. Having fun

Participating in new things will help in exploring something new and quite fun. If you are the one that likes to the part of things that will be new and something fun. Hackathons are a great way of doing that, here you will get to experience many new things that will help interesting thing of the interest of the person.

2. Networking

To establish yourself in the market, you need to have networks. So, this is the reason why a hackathon is a great platform to form connections with the people that are in your field and share ideas with them. Having such a network in the future will provide an opportunity that might change the entire life of the person based on the talent and skills that the person has. So, it is very important to have meaning build networks with good people.

3. Find your next c-founder

It is good to come to a hackathon without a team even it is fine to come hackathon without an idea. As here you will get the knowledge of everything. Once you just come to the list of hackathons, you will automatically meet the people that will help in exploring new things. Just come to the project simple and join any project with the group. There you will know different things and you can discuss your views on it.

4. Embracing failures

Life is not all about having success. It is good to face some failures as it will help you to know the things in which the person lacks. The beauty of a hackathon is that there is no requirement for any sort of investment. Just you need is to have the right source of information and set of people that will help and guide you to explore new things. This will keep you motivated to invest the time in the things that will turn the wrong things into the right ones.

5. Nailing MVP

These have strict limits that will make you decide on the MVP that the person is aiming to present. Using this will help to make things ready and presentable in front of the people that will help in grabbing the attention of the public at large.

6. Challenge yourself

Hackathons are like marathons that keep the person in the race of competition. This thinking of competing will help the person to push the limits to a great extent so that a new thing can be processed from scratch that was impossible for the people to think of. Not only this, but hackathons also provide the results that give the person the rewards for the things that he has done.

7. Discover the hidden abilities

To stand out different in the public, it is very important to use all the abilities that you have. Even it is very important to explore new things that will further help in exploring the hidden talents of the person. Sometimes these hidden talents will help in making yourself aware of the things that you can do in the best possible way. Keep trying your skills in different fields so that you can come upon one decision that which one is the best for you.

8. Getting your hands on the new technology

Nowadays people’s favorite task is to keep exploring new things, With the help of hackathons it is very simple for people from the background of designers and web creators to get hands-on with the latest technology. The use of advanced technology is making things much simpler for you. It is very interesting to make the best use of these to get the best results. Earlier might not have ever thought that using a phone will do all the things for us. But it is now possible. So, it is good to access the latest technology.

9. Make your crazy ideas be the reality

Many a time there might be chances that the thing you are speaking of might be very crazy. But doing that crazy thing will provide the person with all the best results. With the help of Hackathons, it is easier the make your crazy ideas come into reality and prove to people that nothing is impossible in today’s life. There is no limit to the ideas and even to make them true there should not be any limit.

10. Learn a lot

There is no age to stop learning new things. People of any age, gender, profile, etc, should always keep on learning new things as it will let them know what all things are trending in the market. Hackathon is a platform for learning more and more new things. Learning new things will challenge the existing capabilities of the person and will surely push the person forward in life.

Once you are part of the online hackathon, it is a great experience of learning new things and see what you can do next. Technology is the best thing that ever happened to mankind. So, it should be used in the best possible way to get all the benefits.

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Molekule Review: A Fresh Take on Molekule Air Pro

March 17, 2021

Air purifier users looking for a device for larger spaces and Molekule enthusiasts eagerly awaiting the next model should take note of this Molekule review on the new Molekule Air Pro System. This impressive-looking air purifier is the latest in a series of high-performance units that incorporate the company’s innovative PECO technology.

Molekule Air Pro is designed to perform in spaces up to 1,000 square feet. Whether it’s purchased for a roomy office, medical practice, or open-layout small house, Air Pro should function equally well in every setting. As an added bonus, Molekule Air Pro’s sleek, minimalist design resembles a piece of modern decor.

Unit Design

Molekule Air Pro is the big brother to the original Molekule Air system. For comparison, Air Pro is the same height as its predecessor (23 inches tall) but is 3 inches wider (11 inches in diameter). Air Pro weighs 22.9 pounds but is easy to transport with its sturdy vegan leather carrying strap.

Aesthetically, Molekule Air Pro features a smooth cylindrical shape and anodized aluminum exterior. The unit’s white base contains the particle sensor mechanism. The substantial base also contains an integrated cord wrap, which minimizes tangling episodes and makes for a cleaner overall appearance.

Filter Profile

Molekule Air Pro’s hybrid filter is a composite of Molekule Air’s two separate filters. Air Pro’s Pre-Filter catches three sizes of airborne particles, such as pollen and smoke. At the same time, the unit’s Photo Electrochemical Oxidation (PECO) filter destroys particulates’ molecular structures with light. Specifically, Air Pro’s PECO filter is activated by light that shines on the filter membrane. This light triggers a reaction on the filter’s surface, destroying minute pollutants by destabilizing their molecular structures.

This patented proprietary technology is a Molekule hallmark, as the majority of air purifiers utilize HEPA filtration. Molekule refined the PECO-Filter over 25 years of research and development. University research laboratories and independent testing facilities have validated Molekule’s test results.

Wide-Ranging Pollutant Destruction

Molekule Air Pro’s PECO-Filter destroys pollutants including pollen, pet dander, bacterial spores, and black mold. Cockroach allergens, tobacco smoke, staphylococcus, volatile organic compounds, and RNA and DNA viruses are also no match for PECO technology. Also, note that Molekule Air Pro is not a source of ozone emissions. Instead, this air purifying system destroys ozone.

Comparing PECO and HEPA filters

PECO and HEPA filters both capture airborne particulates as small as 0.3 microns. However, the two filters utilize different technology to accomplish this goal. HEPA filters contain accordion-like filter paper that grabs particulates and stores them for later disposal. When the filter has reached capacity, the user replaces it and throws the old one in the trash. In contrast, PECO-Filters use light to destroy the particulates rather than merely capturing them. Although the user must still replace the filter, it is cleaner because the particulates have been destroyed rather than just contained.

Unit Setup and Operation

Setting up Molekule Air Pro is a simple process. After removing the unit from its box, the user plugs the power cord into the purifier’s underside and then into a standard wall outlet. Next, the user follows the intuitive screen prompts on the touchscreen located on the unit’s top surface. After choosing the mode and system preferences, the user downloads the Molekule app and syncs it with their unit. The Molekule app operates on both IOS and Android platforms.

Fan Speeds and Auto-Protect Mode

Molekule Air Pro offers six manually adjusted fan speeds, along with Standard and Quiet Auto-Protect modes. The Quiet Auto-Protect mode is desirable for nighttime operation. When Air Pro runs on Auto-Protect mode, Molekule’s sensors will recognize the space’s particulate levels and adjust the fan speed to handle the load. The user isn’t required to perform any manual adjustments to complete this action.

Unit Control Methods

Molekule Air Pro’s controls are accessible via one of two methods. Onsite users can view an easy-to-use touchscreen on the unit’s top surface. The touchscreen contains a color-coded air quality display. Readings include “good,” “moderate,” “bad,” and “very bad” air quality.

Although Air Pro doesn’t include a remote-control device, the user can control the unit via a smartphone app and Wi-Fi functionality. The app displays the current air quality based on actual particulate levels. The user can also remotely change the unit’s fan speed via manual or automatic methods.

Purification Capabilities

Testing Molekule Air Pro was a straightforward process. The user placed the unit in a medium-sized room that measured approximately 14 by 10 inches. Before beginning the test, the user obtained a baseline air quality measurement with a professional air quality detection device. After allowing Air Pro to run for 60 minutes, the user obtained a second set of data.

Within one hour, Molekule Air Pro had removed 94.4 percent of airborne particulates from the subject room’s air. This action improved the room’s air quality by 97 percent.

Coverage Area

The no-nonsense Molekule Air Pro is configured to purify the air in spaces up to 1,000 square feet. Air Pro is Molekule’s biggest non-commercial or medical air purifier on the market. For comparison, Air Pro covers 40 percent more area than the first-generation Molekule Air. Also, Air Pro provides 75 percent more coverage than the compact Molekule Mini.

The Noise Factor

Despite its size, Molekule Air Pro isn’t excessively loud. The unit’s decibel level fluctuates with its fan speed, increasing the noise factor as the fan operates on gradually higher settings. Air Pro’s noise level stays within the 33 to 64 dBa range. This interval is minimally higher than the original Molekule Air’s noise range of 33 to 55 dBa.

Filter Replacement

The unit’s app-based monitoring software gauges the amount of useful life remaining in the filter. To keep Molekule Air Pro operating as designed, the user should replace the filter about every six months.

Consider Air Pro’s Overall Value

Molekule Air Pro has several notable advantages. First, it demonstrates superb air purification capabilities in spaces up to 1,000 square feet. This makes this large-sized unit useful for offices, medical practices, and the open-layout interiors of smaller homes.

In addition, Air Pro is the only currently available unit with six fan speeds. The user can manually choose a fan speed or opt for Auto-Protect mode. Auto-Protect mode automatically changes the fan speed according to the particulate count and overall indoor air quality. With assistance from the Molekule app, the user can view the area’s real-time air quality and adjust the fan settings accordingly. The app also enables the user to see the filter’s remaining useful life.

Molekule Air Pro is available for $1,199 from the manufacturer, and serious air purifier adherents will find that it’s worth it to access such top-tier technology and functionality.

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Digital Commerce: Understanding the Shifting Financial Paradigm

March 17, 2021

The internet is playing an increasingly important role in the lives of businesses and individuals all over the world. With an increasing number of business processes, services and offerings available online, it is important to stop and take stock of the impacts of this increase in online activity. Digital commerce is having a major impact on the financial sector, in a number of different ways.

How we shop has been revolutionised by e-commerce. Never before have we had such convenient access to stores and the ability to shop at any time day or night. This change in behaviour has also required banks and financial institutions to adapt their offerings to cope with these emerging trends. However, this shift has also given birth to the digital bank, third-party financial intermediaries, new investment strategies, and a range of other new additions that are having a real effect on the shifting financial paradigm. eCommerce and banking are heavily reliant on each other and as digital commerce continues to grow, how we manage and spend our money is touted to change.

Let’s take a closer look at how digital commerce has influenced the financial industry and what we can expect moving forward.

Digital Banking

With just about every other service becoming digitised, it’s no surprise that we are now seeing a new wave of online-only banks. These digital banks offer customers a convenient means of managing their finances and carrying out day-to-day banking tasks. The incredible growth of e-commerce in recent years has helped to catapult digital banking forward with more consumers opting to bank with digital banks due to their convenience, lower fees, 24/7 access and easy to use platforms.

Third-Party Intermediaries

PayPal was originally developed to provide users with a safer alternative for users completing transactions online. Instead of giving your credit card or banking information to someone online, you simply used Paypal as an intermediary to manage the transaction for you. Nowadays, there are countless platforms just like PayPal that provide a similar service. These online financial intermediaries were developed because of e-commerce and, as digital commerce continues to evolve, so too will PayPal and these other entities.

Investment Opportunities

Just a few short years ago, meetings with financial advisors and bank managers were strictly done in person. However, with the growth of digital commerce, there is now a range of services you can use to create an investment plan, increase your savings and modernize your financial experiences. These services can give you the financial help and guidance you need to manage your money more effectively and take control of your finances in the modern financial landscape.

New Payment Options

Whether you pay online or in-store, there are more ways for you to pay for goods and services than ever before. Mobile wallets can store all of your bank cards, transfer apps allow you to move money to your friends and family’s accounts with a quick tap and NFC payments allow you to make payment using your phone or other types of wearable tech. These new payment options have been developed to meet the growing needs of the modern consumer who need to be able to pay in-store and online securely.

Digital Commerce Will Continue To Shift The Financial Paradigm

As technology becomes more and more ingrained in our culture, we can expect more developments in the financial world. Offering customers a quick, safe and convenient means of paying and managing their money will be key. As digital banks continue to grow in popularity, cryptocurrencies become more recognized and more financial services and methods of payment become available, it will be interesting to see what the financial industry will come up with to meet the growing demands of digital commerce.

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Payment Trends Across The US Are Changing, And The Pandemic Is To Thank For That

March 16, 2021

As technology emerges and influences different aspects of daily life, certain behaviors adapt to the changes. It’s what’s happened with payment trends, as options outside of physical cash have become available.

For years, the preferred methods of spending money have developed gradually, moving steadily towards a cashless society. Although the world will likely never fully embrace such a situation, we’re reaching a point where the people who use physical money are the minority. In fact, we’re heading that way far sooner than anticipated, thanks to the pandemic.

With people urged to use contactless payments wherever possible, the need for physical money has deteriorated immensely over the past year. That’s an impact that’s unlikely to be reversed, meaning digital cash will only become more prominent.

What exactly are the current payment trends in the US, though, and how are they changing in this turbulent climate?

E-Commerce Is Becoming An Increasingly Favorable Option

It likely comes as no surprise that the last year has seen a significant increase in e-commerce purchases. With lockdowns forcing millions to stay at home, people have turned to the internet to satisfy their spending habits.

According to research by Capgemini, the number of people doing most of their monthly shopping online nearly doubled after the pandemic began. Almost half of all people involved in the study had resorted to making purchases from home, presumably due to safety concerns and ease of use. Of those people, only a third opted to use cash on delivery as one of their payment methods. This was generally neglected in favor of debit and credit cards, mobile payments, and internet banking.

That’s in line with what we already understood about preferred payment methods in the US, thanks to a 2019 survey. Before the pandemic even existed, nearly three-quarters of Americans polled used cards as their main form of payment. The only result that really differed from Capgemini’s research was mobile use, which ranked below physical cash at 6% to 15%. However, given the virus and the fact that physical payments make less sense with e-commerce, it’s understandable why these options have since switched places.

New Payment Methods Are Being Rapidly Embraced

Whenever something new becomes available, people aren’t always eager to jump on it immediately. That’s certainly the case with payment methods.

Recent years have seen developments in how people can use technology to spend their money. QR codes and digital wallets were foreign concepts not that long ago, and today, many consumers are still reluctant to use them. However, it seems that the pandemic has changed attitudes slightly in that sense.

The Capgemini research suggests that people have broadened their horizons over the last year, with many trying new payment methods for the first time. 27% reportedly tried out QR payments, while 35% added a card to their digital wallet. What’s more, 41% of people started using contactless payments, likely because many stores advertised it as the preferred payment option.

According to the research, the statistics for QR codes are reflective of worldwide usage instead of strictly the US. However, the States has also recorded a boosted interest in this method, with a reported increase of 11% toward the end of 2020. With services like Paypal making options like this more accessible for customers, it makes sense that more and more people are starting to adopt them.

Cryptocurrency Is Gaining Ground But Remains An Unknown Entity

Another area that’s beginning to see change is cryptocurrency. Like QR codes, this payment method is also set to get a boost from the likes of Paypal thanks to the plans they’ve put in place for 2021. However, before we see US citizens show any significant interest in currencies like Bitcoin, a few things will need to change.

For one, there needs to be greater education about how cryptocurrency works and why it’s a worthwhile investment option. As it stands, only 5% of Americans actually understand the monetary value of Bitcoin, with nearly half oblivious to the currency in general. Research shows that women and those over 55 are less likely to know about it than men and younger generations. However, no demographic seems particularly well-informed.

There are exceptions to this. For instance, in Texas, the percentage of people who know about cryptocurrency, have invested in it, or are interested in investing in it are all above the national average. These numbers could still be significantly higher, though, if information about this currency were more widespread.

It’s unlikely that this payment trend will have much of an impact on the US until people find out more information on Bitcoin and other cryptocurrencies. However, with smart investments boosting its popularity in 2020, and services increasing its commercial availability, positive change is still on the horizon.

The Use Of Cash Is Diminishing, Although It Won’t Disappear

There will always be people who need to use physical money. However, their numbers are depleting significantly, and the pandemic has only strengthened that decline.

Back in 2010, total transactions using cash was reportedly 51%. Within a decade, that’s apparently fallen to 28%, paving the way for other options to steal the limelight. The likelihood is that physical money will always be a viable payment method, especially as some states deem it illegal not to allow it.

However, the pandemic has forced people to adopt new mindsets when it comes to money, many of which won’t be undone. Most customers who find contactless or other payments options more convenient aren’t likely to give them up, even if they used different methods before the virus. The need to get cash from an ATM will probably be viewed as a waste of time, meaning people will only ever do this when circumstances demand it.

As a result, the amount of people using cash will likely shrink until it’s mostly those who don’t have any other option. While they might still represent a sizable number, compared to the rest of the population, they’ll be the minority.

In a matter of months, our defenses against the virus might be strong enough for some normality to return to daily life. That doesn’t mean that things will go back to how they were before, though. The pandemic has shaped certain aspects of our lives in irreversible ways, and these payment trends are proof of that.

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