Being a small company is a big plus when you’re at ZIM

Over the last 3 years, ZIM, one of the world’s 11 most profitable shipping companies, has set itself apart from the old-school shipping industry, complex processes, outmoded technology and sluggish response to changes.

In 2021, ZIM stands out as a dynamic technology driven company, that puts customer and employee experience at the center. This transformation has been powered by an advanced digital systems architecture and adoption of agile, creative and innovative work methods.

This means that the ZIM of today is a highly attractive employer, much closer in nature to leading high-tech companies such as Google or Microsoft, than its shipping peers. This is especially true given its headquarters which are located in the heart of Haifa’s high-tech zone and its strong global presence.

ZIM’s Glassdoor rating of 4.4 – well above the global average of 3.4/5 – is testimony to the impact of this change and the wave of … Read the rest

TSX Finishes Negative on Health-Care Weakness

Equities in Canada’s largest centre were below par Thursday, owing largely to weakness in health-care and tech concerns.

The TSX remained negative 19.76 points to close Thursday at 19,290.98

The Canadian dollar gained 0.71 cents to 82.22 cents U.S.

Trillium Pharmaceuticals led health-care issues lower, parting with $1.01, or 8.3%, to $11.23, while Canopy Growth dipped $1.79, or 5.7%, to $29.50.

Among tech plays, Lightspeed POS slid $4.70, or 6%, to $74.48, while Hut 8 Mining let go of 48 cents, or 7.7%, to $5.72.

In the industrial sector, Ballard Power Systems dropped $1.01, or 5.3%, to $18.20, while Westport Fuel skidded 49 cents, or 6.2%, to $7.42.

Gold stocks tried to lift spirits, with Barrick Gold picking up $1.29, or 4.7%, to $28.59, while Kinross Gold jumped 31 cents, or 3.5%, to $9.,25.

In other resource stocks, Endeavour Silver tacked on 69 cents, or 10%, to $7.60, while SSR … Read the rest

Finance Ministry Reduces 2021 Growth Forecast to 2.3%

BANGKOK (NNT) – The Finance Ministry has reduced its 2021 economic growth forecast for a second time to 2.3% from 2.8% growth, after a third wave of coronavirus infections struck Thailand this month.

Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the ministry slashed its forecast for the number of foreign tourists to only 2 million this year from 5 million it had predicted three months ago.

She said the expected fewer tourists will have quite an impact as that will cut tourism money to just over 100 billion baht from 260 billion baht previously projected.

The latest outbreak has seen half of its overall cases reported this month alone and came as the country was preparing to reopen more broadly to foreign tourists, as vaccinations increase globally.

The Director-General said inoculations at home and abroad could provide some support. The distribution of vaccines is very important as it will … Read the rest

Dow Jumps Nearly 100 to New Record

U.S. stocks rebounded on Wednesday as strong earnings results and economic optimism pushed the Dow Jones Industrial Average to a record high.

The Dow Jones Industrials gained 97.31 points to end the session at 34,230.34.

The S&P 500 eked higher 2.93 points to 4,167.59.

The NASDAQ Composite gave up earlier gains and finished behind Tuesday’s close by 51.08 points to 13,582.42, as Amazon, Netflix and Facebook all dipped more than 1%.

General Motors shares climbed over 4% after earnings blew past expectations. Activision Blizzard traded higher by 3% after strong results.

Commodity stocks jumped. Chevron and Dow were the two biggest gainers in the Dow Jones. ConocoPhillips popped more than 5% thanks in part to an upgrade to buy from Bank of America.

The Biden administration announced Wednesday that it supports waiving intellectual patent protections for COVID-19 vaccines, as countries struggle to manufacture the life-saving doses.

Stocks of major pharmaceutical … Read the rest

NASDAQ Sustains Worst Day Since March

The S&P 500 fell on Tuesday amid selling in Big Tech and other high-growth stocks, erasing the benchmark’s strong start to the month.

The Dow Jones Industrials nosed ahead 19.8 points to 34,133.03, thanks to strong performance in Dow Inc and Caterpillar.

The broad market slid 28 points to 4,164.66.

The NASDAQ Composite dissolved 281.61 points, or 1.9%, to 13,633.50. Pressure on some of the globe’s largest technology companies sent the tech-heavy index to its worst day since March.

Apple, the largest publicly traded company in the U.S., fell 3.5%. Google-parent Alphabet lost 1.6%, Facebook shed 1.3% and electric car maker Tesla dropped 1.7%. Investors did not spare the market’s chipmakers, with Nvidia dipping 3.3%, and Intel losing 0.6%.

Reasons for the downward pressure varied, but strategists cited a mix of concerns about rising inflation, fears the Federal Reserve may have to taper monetary stimulus earlier than telegraphed, and the … Read the rest

Clear skies over Asia’s new foreign investment landscape?

Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.

The United States is alarmed at China’s technological advance. It has instituted a range of restrictions on sales of high-tech products to China and Chinese investment in the United States, and is heavily taxing imports from China.

These measures were introduced by the Trump administration and are under review by the Biden administration — but most of them will likely remain in place, reflecting a bipartisan distrust of China.

China, in turn, has doubled down on industrial policies aimed at generating domestic innovation and limiting technology imports. The pandemic caused temporary global shortages for medical equipment, raising concerns about dependence on imports … Read the rest

Stocks Head North on Retail Gains

U.S. stocks climbed on Monday, the first trading day of May, as shares tied to the economic reopening rallied on relaxed pandemic restrictions.

The Dow Jones Industrials descended from its highs of the day, but still vaulted 238.38 points from Friday’s close to finish an impressive Monday at 34,113.23

The S&P 500 picked up 11.49 points to 4,192.66.

The NASDAQ Composite slid 67.56 points to 13,895.12, after Big Tech stocks pulled back following a strong month.

Bets on the economic reopening led the market advance, especially retailers. Royal Caribbean and American Airlines rose more than 1% each. Gap rallied more than 7%. Dillard’s rose nearly 10%, while Macy

The rally in these stocks came after New York Governor Andrew Cuomo announced that most capacity restrictions will be lifted across New York, New Jersey and Connecticut, while 24-hour subway service will resume in New York City later this month.

Berkshire Hathaway … Read the rest

Singapore’s PayNow and Thailand’s PromptPay Launch Cross-border Payment System

In a global first, Singapore and Thailand have linked their real-time payment systems, PayNow and PromptPay allowing international fund transfers between the two countries within minutes.

The Bank of Thailand (BOT) and the Monetary Authority of Singapore (MAS) have launched on Thursday a linkage of Thailand’s PromptPay and Singapore’s PayNow, marking the world’s first bridge between national real-time retail payment systems.

This new cross-border integration allows international fund transfers within minutes and could pave the way for a cross-border payments network with other ASEAN countries.

The linkage allows customers of participating banks in Thailand and Singapore to transfer funds of up to THB25,000 or S$1,000 daily across the two countries, using just a mobile number.

There will be no need to populate information fields such as the recipient’s full name and bank account details, as with normal remittance solutions. The funds will flow seamlessly and securely between customers’ accounts in

Read the rest

Stocks Slide Friday, but Gain on Week

The TSX dwindled 147.59 points to end Friday, the week and April at 19,108.33. Still, the index gained six points on the week, or 0.3%.

The Canadian dollar deleted 0.07 cents to 81.38 cents U.S.

Tech issues weighed most heavily on the index, as Shopify dropped $61.33, or 4.1%, to $1,453.00, while Descartes Systems fell $2.20, or 2.7%, to $78.63.

Materials stocks were bruised, as First Quantum Minerals faded $1.23, or 4.2%, to $28.24, while Endeavour Silver lost 25 cents, or 3.7%, to $6.47.

Among energy stocks, Meg Energy fell 31 cents, or 4.4%, to $6.76, while Whitecap Resources subsided 15 cents, or 2.7%, to $5.37.

On the economic front, Statistics Canada said real gross domestic product grew 0.4% in February, following 0.7% growth in January, as 14 of the 20 industrial sectors were up.

Also, in March, the Industrial Product Price Index increased 1.6% month over month and 10.0% … Read the rest

April Jobs Figures Due Out Next Week



Economic Lookahead

Markit manufacturing Purchasing Managers Index (final) (April)

Institute for Supply Management manufacturing index (April)

Construction spending (March)

Motor Vehicle Sales (April)

Featured Earnings

Estee Lauder Companies Inc. (NYSE:EL) (Q3) EPS projected at $1.28, compared to 85 cents in the prior-year quarter.

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) (Q1) EPS projected at $2.83, compared to $3.02 in the prior-year quarter.

Williams Companies Inc. (WMB) (Q1) EPS projected at 28 cents, compared to 26 cents in the prior-year quarter.


Economic Lookahead

Markit Canada Manufacturing PMI (April) The PMI registered 58.5 in March, up considerably from 54.8 in February, to become the highest reading in over 10 years of data collection.

Featured Earnings

Ballard Power Systems Inc. (T.BLDP) (Q1) EPS projected for loss of six cents, identical to the prior-year quarter.

MEG Energy Corp. (T.MEG) (Q1) EPS projected of five cents, identical to the prior-year quarter.

Nutrien Ltd. (T.NTR) (Q1) … Read the rest