Buy Typo Products & Compare Prices Online in Singapore 2021All the Essential Items You Should Get from Typo Singapore
Why settle for boring office supplies and home décor when you can spice it up with aesthetic supplies? As a subsidiary of Cotton On, the Typo store has everything you need to help you study, work, travel, shower, and more while spicing it up with unique designs that follow today’s trends.Typo Stationery
The first thing that comes to everybody’s mind when it comes to the Typo store is fun and unique stationery. People these days don’t want to just settle for plain notebooks and supplies so the Typo store provides a great alternative. The stationery from Typo Singapore include diaries, journals, planners, notebooks, writing tools, and miscellaneous desk accessories. They are not your typical stationery, though; for instance, the novelty pencils and pens are attached with a design of flamingos, pretzel, a faux diamond, and even a middle finger design to (hopefully) prevent anyone from stealing your precious Typo pen.Typo Home Décor and Homeware
Not only does the Typo store can help amp up your work or study sessions, their products can also help your house and any other spaces more cosy and homey. The Typo homeware product lie includes wall arts, pillows, cushions, lighting, and even candles so not only your house will look good, but it will also smell good.
Typo also has other miscellaneous items like easel chalkboard like those usually found outside of cafes and pubs, makeup brushes (rose gold, of course), robes, and bath bombs. Other than that, the Typo store also offers fun mugs and other dining utensils that are as unique as their stationery like mugs in the shape of popcorn, R2D2 from Star Wars, or a mug shaped like an amplifier.Typo Travel Accessories
If you’re a busy bee who’s always on-the-go or you just simply need to satisfy your wanderlust, Typo Singapore has some great things in store for you. To keep up with all the unique novelty stationery and homeware, you need to check out Typo’s travel accessories. In this collection, you can find carry-on suitcases with trendy designs like marble and chevron, travel wallets, passport covers, and travel sets that include toiletry bags, sleep masks, luggage tags, and more.Typo Tech Accessories
Millennials are tech-savvy and that’s a fact; to go along with their high-end gadgets, they need novelty tech accessories that separate them from all the basics. If you’re not a tech-savvy millennial, there’s no reason why you shouldn’t accessorize your gadget with products from the Typo store anyway.
Typo has camera lens compatible for most smartphones to elevate your selfie or Instagram game, laptop covers and bags so you can carry your laptops with style, earphones and headphones with printed designs, power banks, novelty phone cases, and speakers, including a waterproof speaker for you to use in the shower.Typo Gift Ideas
Sharing is caring and Typo stationery and trinkets are better if they’re shared. They make the perfect little gift for your loved ones’ birthdays, anniversaries, graduations, and any other special occasions. If you’re not sure which Typo stationery and products you should give to your loved ones, follow these simple steps.Find their interests
The first thing you should do is to get to know your loved ones and find out their interests. For instance, if they’re tech-savvy and loves to travel, go for the laptop bags to help them carry their gadgets safely across the world. If music is their passion, you can give them Typo speakers, earphones, or headphones.Let them make their own gifts
If you still have no clue what your dear ones are interested in, you can buy them a gift that they can make or craft themselves using items from the Typo store. There’s a variety of arts and crafts supply like postcards, twine, hand and peg frame kit, stamp pads, and kits to make their own DIY dreamcatchers.Or give them something that you made
Another way of giving a thoughtful gift is to create your own presents. Instead of letting them do the DIY projects themselves, you can take it upon yourself to create something unique for each one of your friends and family members. Take their interests and hobbies into consideration and you can make personalized presents that can hold more sentimental values.Complete the gift with a message
To make your gift even more unique, give them a card and write a heartfelt or playful message. Typo Singapore has some great gift cards with a variety of designs and quotes for every occasion. The gift cards from the Typo store are not your run-of-the-mill gift cards, they often feature memes, funny and witty phrases, as well as cute, aesthetically-pleasing designs.
Popular Bookstore, Typo & More
With rising trends like bullet journaling and scrapbooking, stationery shops are getting increasingly popular amongst not just the aspiring artists, but plain ol’ students and office workers as well.
Despite not being that artistically-inclined myself, scrolling through Instagram has got even me itching to shop for cool stationery.
As such, whether it’s art supplies or just scrapbooking materials that you’re looking for, here are the top stationery shops in Singapore to check out.
14 Popular stationery shops in Singapore
|Stationery Shop||What to get||Price|
|Popular Bookstore||Pens and markers, stickers and notebooks||$|
|Typo Singapore||Notebooks, power bank, mugs and Airpods case||$|
|Krafers Paradise||Pens and markers||$|
|Tokyu Hands Singapore||Brush pens and stickers||$|
|NBC Stationery & Gifts||Pens, stickers and washi tapes||$|
|Muji Singapore||Notebooks, pens, acrylic storage and backpacks||$$|
|Klosh||Planners, scrapbook kits, washi tapes and calendars||$$|
|Overjoyed Singapore||Markers, notebooks and fountain pens||$$|
|Paper Market||Craft kits and scrapbooking paper||$$|
|CityLuxe||Brush pens, pountain pens and stickers||$$|
|Art Friend||Calligraphy pens, glue guns and cutting mats||$$|
|Smiggle||Pens, backpacks, pencil case and alarm clocks||$$|
|Kikki. K||Stationery sets, planners and calendars||$$$|
|Rifle Paper Co||Planners, phone cases, sticker sheets, address books and Airpods cases||$$$|
Popular Bookstore ($) — for affordable supplies
Popular Bookstore has got to be one of the most popular (pun intended) stationery shops in Singapore. They’re known for carrying school-related supplies like assessment books and etc, but in the recent years, Popular has actually become — dare I say — quite trendy.
Popular has become the ultimate go-to store for not just those who require a quick stationery fix, but also for the avid stationery collectors. Other than just stationery, UrbanWrite (a brand by Popular), offers a collection of cute stickers, notebooks and even scrapbooking paper.
One of Popular’s main strengths is that it’s also very affordable. Popular members get 10% off at all stores for a membership fee of $12 a year for adults and $8 for students.
If you are looking to continue patronising popular bookstores in the long run, you might want to consider getting a three year subscription for $30 (adults) and $20 (students).
What to get from Popular bookstore:
- Pens and markers
Popular bookstore address:
Multiple locations including NEX (#04-59/60), Tampines Mall (#03-17), Northpoint (#03-12) and more. Refer to Popular Bookstore’s website for the latest addresses and hours.
Typo Singapore ($) — for cheap novelty notebooks and mugs
Under global brand Cotton On, Typo Singapore is a hit especially amongst the teens. They’re known for selling trendy, hipster designs at a very competitive price point.
Typo’s wide selection of notebooks, bags and tumblers can often be found coupled with designs curated from collaborations with well-loved brands (e. g. Disney, Harry Potter). Besides the usual stationery items like notebooks (from $2.99), you will also be able to find tech accessories and products such as Airpods cases ($11.99), as well as headphones and power banks ($49.99).
What to get from Typo Singapore:
- Airpod Case
- Arcade Game Power Bank
- Anytime Mug
Typo Singapore address:
Multiple locations including Bugis Junction (#01-53), NEX (#01-10), Ang Mo Kio (#B1-20) and more. Refer to Typo Singapore’s website for the latest addresses and hours.
NBC Stationery & Gifts ($) — for Japan-imported stationery like washi tapes
NBC Singapore has been around for a pretty long time, starting out as a stationery corner within Kinokuniya Book Store. Since then, it has expanded into 7 outlets country-wide, with a range of stylish, chic and cute stationery and craft materials specially imported from Japan.
Speaking of Japanese stationery… If you’re into washi tapes, NBC carries a wide range of them so you can shop to your heart’s content.
What to get from NBC Stationery & Gifts:
NBC Stationery & Gifts address:
Multiple locations including Jem (#04-52), Bugis Junction (#03-05A), Raffles City (#03-10) and more. Refer to NBC’s website for the latest addresses and hours.
Krafers Paradise ($) — for fancy pens and kitschy craft kits
Stocked with an extensive supply of art materials such as paint, canvases and craft kits, Krafers Paradise is a literal paradise for all artists.
Prices are competitive, and you can get pens and markers from $1.50 and $2 respectively.
If you are a fan of hand lettering, you might want to consider coming down to get some of the highly sought after Marvy Uchida markers for your works.
What to get from Krafer’s Paradise:
Krafer’s Paradise address:
180 Kitchener Road, City Square Mall #04-19 S208539
Tokyu Hands Singapore ($) — for Japan-inspired stationery
Some affordable yet popular items from Tokyu Hands include the brush pens (from $2) and stickers (from $2).
Besides stationery, this one-stop shop is a good place for lifestyle goods like kitchenware, cosmetics and travel accessories.
What to get from Tokyu Hands:
- Brush pens (from $2)
- Stickers (from $2)
Tokyu Hands address:
Multiple locations including Orchard Central (#B1-07), Westgate (#01-36), Jewel Changi (#02-203) and more. Refer to Tokyu Hands website for the latest addresses and hours.
Muji Singapore ($$) — for minimalist suppliesinstagram.com/p/B5sPaABA-yD/?utm_source=ig_embed&utm_campaign=loading” data-instgrm-version=”12″>
Minimalism, the lifestyle trend that has taken the world by storm, is exactly what this stationery store embodies. The brand has a loyal fan base of ‘Mujirers’ (myself included) who love the brand’s simple yet functional designs.
Because it is more a lifestyle concept than a specialty store for stationery, Muji’s stationery range is more basic. You’ll be able to find pens, markers, notebooks and storage solutions, but not the more sophisticated arts supplies like paints, canvases and similar materials.
Price-wise, it’s not super cheap. The pens (from $1.40) and notebooks (from $1.60) are alright, but the popular acrylic stationery holders can get pretty pricey. The small ones already cost over $20.
What to get from Muji Singapore:
- Acrylic storage
Muji Singapore address:
Multiple locations including Jem (#04-33), Bugis Junction (#03-10F), Tampines Central (#03-06) and more. Refer to Muji’s website for the latest addresses and hours.
Klosh ($$) — for planners and calendars
Klosh offers a ton of beginner-friendly products, such as their cheap scrapbooking kits (from $9.90) that are suitable for starters. Their bestselling washi tapes (from $4.90) and planners (from $9.90) are also very popular, but they are more expensive than other basic stationery shops.
Their calendars are also a crowd favourite, and those start from $27.70.
What to get from Klosh:
- Scrapbook kits
- Washi tapes
Multiple locations including Jewel Changi (#04-230), Junction 8 (#04-3C), Compass One (#03-06) and more. Refer to Klosh’s website for the latest addresses and hours.
Overjoyed Singapore ($$) — for cheap fountain pens
Overjoyed Singapore mainly provides craft supplies with a range of stationery like their affordable fountain pens (from $2. 78). You can also pick up the usual suspects, such as markers (from $2.90) and notebooks (from $2).
Suited for all ages, this store also has a dedicated section for kids’ crafting, and holds frequent workshops for painting and sketching at $145. They even have an online Youtube channel that’s useful for learning or just as artsy inspiration.
What to get from Overjoyed Singapore:
- Fountain pens
Overjoyed Singapore address:
2 Handy Road, The Cathay #B1-11 S229233
Paper Market ($$) — for craft kits and scrapbooking materials
This fancy shop is a haven for all crafters. Paper Market sells affordable scrapbooking paper (from $1.90) as well as an impressive range of delightful craft kits (from $19.95). The store also offers interesting workshops that teach you how to make a bunch of simple crafts like mini albums and photo frames.
When it comes to promotions and discounts, Paper Market is a step ahead the rest, with its latest extended Spring Sale (till 31 March 2020), offering up to 50% discounts for selected in- store and online items.
What to get from Paper Market:
- Craft kits
- Scrapbooking paper
Paper Market address:
252 North Bridge Road, Raffles City Shopping Centre #B1-27 S179103
CityLuxe ($$) — for brush pens and bespoke gifts
As its name suggests, CityLuxe is slightly more upmarket than the previous contenders on this list. They carry fancy brush pens (from $2.05), fountain pens (from $2.90) and stickers (from $1.50) for those trying pimp up their stationery collection.
Something note-worthy is that CityLuxe also offers a personalised touch for your notebooks with name engravings for $15, so if you are looking for a special gift for your friend or maybe even yourself, this will be a great option.
What to get from CityLuxe:
- Brush Pens
- Fountain Pens
12 Little Road #05-02 S536986
Art Friend ($$) — for the more serious artists
When it comes to art supplies, Art Friend should never be left out of the list. The stationery supply store is huge, and I often find myself leaving the store with a basket much heavier than I had intended.
Art Friend carries just about everything for all types of artists. For instance, I would be able to find stuff like calligraphy pens ($3), while those working on bigger projects can find supplies like glue guns (from $10.70) and cutting mats (from $3.85).
Art Friend’s membership offers 10% off for every purchase, and comes at a membership fee of $10.70 for 2 years that can be waived with a min. spend of $100 in single receipt when applying.
What to get from Art Friend:
- Calligraphy pens
- Glue gun
- Cutting mats
Art Friend address:
Multiple locations including Plaza Singapura (#B1-10), Bras Basah (#03-33) and more. Refer to Art Friend’s website for the latest addresses and hours.
Smiggle ($$) — for colourful cartoon stationery
Featuring bright colours, bold glitters and cute cartoons, Smiggle is the opposite of Muji. While some may find this brand too kiddy and garish for their liking, Smiggle is incredibly popular amongst the younger crowd.
They also have a few main colour collections, which is great for those who like to match their supplies. For example, if you want, you could get a pencil case (from $7.95), backpack (from $36.95), and alarm clock (from $35) in the exact same shade of pink.
What to get from Smiggle:
- Pencil case
- Alarm clock
Multiple locations including Ion Orchard (#B2-55), Bugis Junction (#01-27), Vivo City (#02-17) and more. Refer to Smiggle’s website for the latest addresses and hours.
Kikki. K ($$$) — for pretty planners and diaries
Kikki.K is Swedish brand that sells quality stationery products that are as pretty as they are functional. Unlike Popular or Typo, Kikki.K is somewhere you’d go to splurge on luxe stationery, so don’t expect it to be cheap.
For example, most of their planners are made from real leather, which explains the relatively hefty price tag (from $25). Their daily diaries (from $39.99) are also very popular.
One way to score discounts is to become a member. The perks are quite attractive, with new membership and birthday vouchers as well as exclusive discounts for many of their items.
What to get from Kikki. K:
- Stationery sets
- Weekly diary
Kikki. K address:
1 Harbourfront Walk, Vivocity #01-K32 S98585
Rifle Paper Co ($$$) — for planners and stickers
Like Kikki.K, Rifle Paper Co is one of the high end stationery shops in Singapore. Their products feature iconic floral prints and soft, pastel hues. The only drawback would be the prices of their products, but the saving grace is that they do hold regular sales events, so you if you’re lucky, you might just be able to cop a good deal.
Popular items include their planners (from $22), phone cases (from $54), sticker sheets (from $7) and Airpods cases (from $35).
What to get from Rifle Paper Co:
- Phone case
- Sticker sheets
- Address book
- Airpods case
Rifle Paper Co address:
Available online at Rifle Paper Co’s official website, shopping site Shopee and at stockists such as Big Blue Trunk.
Did we miss out any of your favourite stores? Tell us in the comments below!
AirAsia flight QZ8501 fuselage was discovered 3 km from its tail
Breadcrumb Trail Links
A Singaporean ship has found the crashed AirAsia plane’s fuselage, a 30-metre-long section with a wing attached, in the Java Sea, authorities said Wednesday
Author of the article:The Associated Press
Publishing date:Jan 14, 2015 • January 29, 2015 • 1 minute read • Join the conversation
Article contentAFP PHOTO/Republic of Singapore Navy
JAKARTA, Indonesia — A Singaporean navy ship has found the crashed AirAsia plane’s fuselage, a 30-metre-long section with a wing attached, in the Java Sea, authorities said Wednesday.
Images taken by a remote-controlled vehicle from the ship showed parts of the plane’s wing and words on the fuselage, Singapore Defence Minister Ng Eng Hen said on his Facebook page. He said Indonesian search officials have been notified so they can begin recovery operations.
The fuselage section that was found is 30 metres long and 10 metres wide with a height of three metres, Indonesia’s National Search and Rescue Agency chief Henry Bambang Soelistyo said.
“The fuselage with a wing still attached on it was found in the priority search area and has been confirmed as part of AirAsia plane,” Soelistyo said.
He added it was some three kilometres from the tail, which was found earlier, and 800 metres from the black boxes, at a depth of about 28 metres.
The plane carrying 162 people disappeared from radar on Dec. 28 less than halfway into a two-hour flight from Surabaya, Indonesia, to Singapore.
Many of the victims are believed to be entombed in the main section of the aircraft’s cabin.
Also Wednesday, fishermen found two bodies along with plane seats and debris off the coast off South Kalimantan, bringing to 50 the total of bodies recovered so far.
President Joko Widodo expressed happiness for the discovery, saying that divers would examine the fuselage Thursday.
The plane’s “black boxes” — the flight data recorder and cockpit flight recorder — were retrieved on Monday and Tuesday and will be key to learning what caused the plane to crash. Bad weather is a suspected factor.ADEK BERRY/AFP/Getty Images AP Photo/Prasetyo Utomo
Vida is now selling FDA-registered KN95 masks for kids
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KN95s now come in sizes for kids. (Photo: Vida)
KN95 masks have earned a cult following among people who want to get a high level of protection against COVID-19. And, now that the Centers for Disease Control and Prevention has updated its guidance to say that everyone, regardless of vaccination status, should be wearing a mask indoors where the spread of COVID-19 is substantial or high, many people are hunting for a quality mask again. Thank goodness KN95 masks are now available for kids.
Global textile company Vida launched the Vida Kids KN95 Mask for the younger set this past spring. These masks are FDA-registered and offer a 95 percent filtration efficiency — on par with quality KN95 and N95 masks. As of right now, you can score a 10-pack of these masks for $35 at Vida’s website in a range of colors.
Vida is not messing around with these masks: You can place orders for anywhere from 10 to 1,000 at once — not a typo — depending on your needs. And the more you buy, the more you save.
These super-protective masks come in 10 super colors, including cherry! (Photo: Vida)
But let’s talk about these masks… They feature a five-layer filtration system of non-woven breathable fibers, including two premium quality melt-blown layers. Soft ear bands and a metal nosepiece, just like you’d find on an adult-size KN95, help ensure a snug fit.
While they’re technically made for one-time use, Vida says they can be reused two to three times if they’re “worn sparingly” and not damaged.
This is a cool feature: Each order includes a prepaid return label so you can send your used masks back as part of the company’s sustainability program.
The masks are designed for kids ages 3 and up, and come in 10 colors, including basics like black and white), pretty shades (lilac, blush) and hues that pop (aquamarine, cherry). You can even choose a multicolor pack in one of four color palettes: cherry pie, popsicle, blueberry punch and sorbet.
Because you love your kids, and your kids love color. (Photo: Vida)
“The fit was perfect. They are snug and of excellent quality. Nice and thick but not too thick,” one satisfied customer wrote in the reviews. “There’s no argument when I ask for one to be worn, whether it’s to walk around a store, perform a sport or just play with friends,” another fan said.
Keep in mind that, while the masks are currently in stock, they’re unlikely to stay that way. KN95s are massively popular right now, and it’s not common to find them from a trusted brand in kids’ sizes. Stock up while you can.
The reviews quoted above reflect the most recent versions at the time of publication.Read More from Yahoo Life:
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World leaders seek ways to strengthen global supply chains
ROME, Oct 31 (Reuters) – U.S. President Joe Biden and 16 other world leaders on Sunday discussed action to make supply chains more resilient in the face of any future health crises, as well as climate change and even planned attacks.
Supply chain problems have emerged as the global economy has pulled out of a pandemic-induced recession and threaten to slow recovery. They have already stoked inflation.
“We have to take action now, together with our partners in the private sector, to reduce the backlogs that we’re facing. And then, we have to prevent this from happening again in the future,” Biden told world leaders at a meeting to address supply chain bottlenecks on the sidelines of the G20 in Rome.
“Now that we have seen how vulnerable these lines of global commerce can be, we cannot go back to business as usual. This pandemic won’t be the last global health crisis we face. We also need to increase our resilience in the face of climate change, natural disasters, and even planned attacks,” he said.
Apart from the United States, leaders and representatives from the European Union, Australia, Britain Canada, Democratic Republic of Congo, Germany, Indonesia, India, Italy, Japan, Mexico, the Netherlands, Republic of Korea, Singapore and Spain took part in the meeting.
U.S. President Joe Biden speaks during an event on global supply chain resilience through the coronavirus disease (COVID-19) pandemic and recovery, on the sidelines of the G20 leaders’ summit in Rome, Italy October 31, 2021. REUTERS/Kevin Lamarque
A written White House summary of the talks said countries expressed willingness to work together to make supply chains more resilient. It said they had agreed to work for more transparency and information-sharing between countries and on the need to have multiple reliable suppliers of raw materials, intermediate and finished goods.
“Openness and communication can promote a swift response to disruptions to supply chains – like those that the globe is facing right now – and allow other players within a supply chain to take mitigating steps,” the White House summary said.
“We should avoid any unnecessary trade restrictions and maintain free flow of goods and services,” it said.
The leaders emphasized also the need for security, especially in technology supply chains, and for fair and sustainable labour conditions and said they would work with the private sector to reach these goals.
(This story was refiled to correct typo in headline)
Reporting by Jeff Mason; editing by Barbara Lewis
Our Standards: The Thomson Reuters Trust Principles.
The S.E.C. Weighs In on Meme-Stock Mania
The frenzied trading in shares of GameStop, AMC and other so-called meme stocks in January led to big losses for some hedge funds, an outcry from retail investors who were abruptly shut out from trading and calls from Capitol Hill to overhaul market rules. But a long-awaited S.E.C. report about those events, released yesterday, concluded that the markets operated largely as intended, debunking conspiracy theories. The report proposed no policy changes.
Is that it? The 45-page report was simply meant to describe events, a senior S.E.C. official told reporters. But many observers anticipated much more, considering that the S.E.C. chairman, Gary Gensler, has hinted at big changes to the way markets work.
What about payment for order flow? Gensler recently suggested that the way some popular retail brokerages are compensated by bigger Wall Street firms may have to change. Payment for order flow — when brokerage firms sell the right to execute retail investors’ trades to bigger trading houses, like Robinhood does with Citadel Securities — has long drawn criticism about conflicts of interest. (A class-action suit by retail investors against Robinhood took particular issue with the practice.) These concerns were noted in the S.E.C.’s report, but payment for order flow was not fundamentally challenged.
And settlement times? Speeding up the settlement cycle, the report suggested, could help avoid a repeat of the January trading chaos. At the peak of the meme-stock surge, Robinhood and other platforms limited trading in certain shares after the industry-run clearinghouse that settles most stock trades — a process that takes two days — demanded billions in additional cash. The S.E.C. said that the clearinghouse’s demands were a sign of the market working normally, but policymakers should consider ways to speed up settlement times to reduce the impact of future margin calls. Robinhood has pushed this point since it was caught out during the meme-stock mania.
Gamification? The report singled out the ways that trading platforms may encourage excessive trading through gamelike prompts as ripe for new rules, in tune with a recent speech by Gensler taking issue with “psychological nudges” in trading apps. In March, Robinhood removed a feature that set off animated confetti when users reach various trading milestones.
Tyler Gellasch, a former S.E.C. lawyer who now heads the Healthy Markets Association, called the report a “heavily negotiated document” that “was never going to break new ground.” Still, it will serve as “one more piece of evidence to support market structure reforms,” he said.
HERE’S WHAT’S HAPPENING
President Biden’s paid leave ambitions may be curtailed. His proposal for 12 weeks of leave for new parents, caretakers and those with serious medical conditions may be drastically shortened as Democrats seek ways to cut costs from his $3.5 trillion spending plan to appease moderates. The plan’s defenders said more generous leave would bolster the U.S. labor market.
The F.D.A.’s Covid booster plan could deal a blow to Johnson & Johnson. The agency will allow people to get a different vaccine as a booster than what they originally received. That could reduce the use of J.&J.’s shot: A study presented last week showed that recipients of that single-dose vaccine who received a Moderna booster saw a 76-fold rise in antibody levels, compared with a fourfold increase after an additional J.&J. dose.
Axel Springer ousts a top editor over workplace behavior reports. The media giant dismissed Julian Reichelt from Bild, Germany’s most powerful newspaper, after The Times reported on details of his relationship with a trainee. The scandal cast a shadow on Axel Springer at a crucial moment, as the KKR-backed media company prepares to close its takeover of Politico.
Bill Gates was warned about emails to a female employee in 2008. Microsoft executives told the billionaire, then the company’s chairman, that the “flirtatious” messages were “inappropriate.” A spokeswoman for Gates called the claims “false, recycled rumors.” The Times previously reported that the Microsoft co-founder had pursued female employees.
A labor shortage hit Zillow’s stock. Shares in the real estate company fell nearly 10 percent yesterday after it said it would stop buying and flipping houses for the remainder of the year. Zillow said it didn’t have enough on-the-ground workers to run the business, though competitors were skeptical.
When will oil peak?
Oil prices are trading at seven-year highs, with the cost of U.S. benchmark crude up 70 percent this year, at more than $80 per barrel. It’s part of a global energy crunch that is pushing prices higher for all types of fuels, including natural gas and coal.
Many Wall Street forecasters believe oil prices are about to peak. Oil usage is up from 2020 but below what it was in 2019, when oil prices were lower than they are now. Analysts at Goldman Sachs last week predicted that the price of a barrel of oil could average $85for the next few years.
But some traders are betting oil will rise much more. The most widely held option is one that pays out if oil rises higher than $100 a barrel by the end of December. Options trades with strike prices as high as $200 by the end of next year have also been made lately, according to The Wall Street Journal.
Who is right? The question of whether oil prices have nearly peaked or are about to rise much higher rests on what’s driving them up in the first place. Two possibilities:
Short-term, pandemic-induced disruptions: Demand for oil — like the market for many goods — is rising faster than producers can ramp up supply (or, in the case of OPEC, are willing to). If that is the case, oil prices are probably near their highs. With China’s economy slowing and the U.S. recovery hitting a weak patch, oil demand is not likely to grow very rapidly in the near future. That should give supply time to catch up, especially as pandemic disruptions fade.
A long-term mismatch between supply and demand rooted in climate change: A recent report from the International Energy Agency found that in order for countries like the U.S. to become carbon neutral by 2050, oil usage must peak by 2025. Yet, based on current investments, green power generation won’t be enough to supplant oil consumption until 2035. This year’s price jump could be the market’s warning sign about future energy crunches and price spikes.
“Perhaps the most immediate risk posed by cryptocurrencies stems from the anonymity they allow. The United States does not permit large numbers of dollars to move both anonymously and electronically.”
—Justin Muzinich, a former deputy secretary of the Treasury Department, writing in Foreign Affairs on “America’s crypto conundrum.” The Biden administration warned yesterday that cryptocurrencies could weaken the country’s sanctions program, and a recent Treasury report detailed how crypto-enabled ransomware attacks against U.S. infrastructure targets are rising sharply.
Remembering Colin Powell
Colin Powell, who died yesterday at age 84, is remembered for his many roles in government, including secretary of state, chairman of the Joint Chiefs of Staff and national security adviser. But he’ll also be remembered as a friend and adviser to corporate America.
Powell regularly worked in the business world between stints in government. In the 1990s, he was on the board of AOL. And soon after stepping down as secretary of state in 2005, he was hired by the venture capital firm Kleiner Perkins as a “strategic limited partner” before joining boards like that of the fuel cell company Bloom Energy. His work as a board member of Salesforce came to light in 2016 when leaked emails showed his frequent messages to the C.E.O. Marc Benioff on everything from small talk to potential M.&A. targets.
“Thank you General Powell for everything you did for me,” Benioff tweeted yesterday. Steve Case, the former AOL chief, added on Twitter, “Deeply saddened by death of Colin Powell, a friend & partner for 25+ years.”
THE SPEED READ
In I.P.O. news: Volvo plans to go public next week at a $23 billion valuation, while the clothing-rental company Rent the Runway is aiming to be valued at $1.5 billion. (FT, WSJ)
Venture capital is having a bumper year, but venture capitalists fear it won’t last. (WSJ)
The German digital banking start-up N26 raised new funds at a $9 billion valuation, on par with the 151-year-old Commerzbank. (Bloomberg)
The Ford Foundation is divesting its holdings in fossil-fuel companies. (AP)
The Justice Department urged the Supreme Court to temporarily block Texas’ new abortion law. (NYT)
A federal judge ruled that the University of North Carolina could keep its affirmative action admissions policy. (NYT)
“The 5 dumbest takes on Pete Buttigieg’s paternity leave.” (Washingtonian)
American Express will let employees work remotely for up to four weeks a year. (Reuters)
Did a typo nearly a century ago in a Supreme Court opinion affect decades’ worth of court rulings in property cases? (NYT)
Best of the rest
Apple unveiled new MacBooks and updated, slightly more expensive AirPods. (NYT)
Washington State University fired its football coach, Nick Rolovich, and four of his assistants for refusing to comply with the state’s vaccine mandate (NYT)
First the car industry suffered from a dearth of computer chips. Now it’s dealing with a shortage of magnesium. (FT)
Related: What do car salespeople do all day with so few cars to sell? (WSJ)
The succession saga at the publishing company Scholastic is juicy enough to feature in, well, “Succession.” (NYT)
We’d like your feedback! Please email thoughts and suggestions to [email protected]
Walmart Slams Amazon’s Whole Foods Delivery Fee
Walmart (WMT) has struck back at its rival Amazon (AMZN) after the e-commerce giant slapped a delivery fee on Whole Foods delivery orders for Prime members.
Now Prime members need to pay a $9.95 delivery fee on two-hour delivery orders – a charge that Amazon had warned shoppers was coming back in September, CNN reported.
However, Prime members will continue to receive free pickup on orders over $35 and exclusive discounts with their membership. An Amazon Prime membership costs $119 a year or $12.99 a month.
But Walmart didn’t hesitate to fire back at Amazon, sending its customers an email announcing that anyone that signed up for Walmart+ would receive $9.95 back, CNN said.
The email to consumers, obtained by the news outlet, took a dig at Amazon’s new fee, reading, “Because customers deserve a grocery delivery service that won’t leave a Whole in their wallet for delivery fees — whoops, typo.”
Walmart+ is the retail giant’s equivalent to Amazon Prime, offering free grocery delivery, free shipping with no order minimum, and other perks. It costs $98 a year or $12.95 a month.
Amazon, which acquired Whole Foods in 2017 in a $13.7 billion deal, put the fee in place to cover additional delivery operating costs such as equipment and technology services so it didn’t have to raise product prices, a Whole Foods spokesperson told CNN.
The spokesperson also told the outlet that due to the pandemic, delivery orders have increased at Amazon. They said that in 2020 Whole Foods delivered three times as many orders as it did in 2019.
Amazon and Walmart have gone head-to-head before as they compete for consumers in the retail space. More recently, the two companies have battled for shoppers by launching their 2021 Black Friday sales – both offering early access to deals.
Amazon rolled out its Black Friday sale in early October, while Walmart’s started its Black Friday sale later in October with another event slated to debut on Nov. 3 and more sales events to run throughout the month of November.
As of Friday premarket hours, shares of Walmart were trading at $148.00, down 45 cents or 0.30%, while shares of Amazon were trading at $3,293.00, down $153.57 or 4.46% at the same time.
90,000 Investment case: Singapore – Forbes Kazakhstan
Photo: AFP / Frederic J. BROWN
Singapore, like Kazakhstan, is a young state (56 years old). In 2021, it took first place in the ranking of countries in terms of economic freedom, compiled by The Heritage Foundation. The total number of points awarded to Singapore reached 89.7, which is significantly higher than the average score both in the region and in the world as a whole. For the second year in a row, experts have considered the Singaporean economy to be the freest in the world.The city-state remains the only country that is recognized as economically free for each of the benchmarks used to calculate the index.
Today, when country / sovereign credit ratings and the creditworthiness of states and the population are steadily deteriorating, only 11 countries have an AAA rating from Standard & Poor’s, and Singapore is among them.
The creator of Singapore’s “economic miracle” Lee Kuan Yew wanted to turn the country into an Asian Switzerland – and he succeeded, because Singapore has become one of the safest global hubs for personal banking and wealth management.
Despite the fact that Singapore is significantly smaller than other world financial centers like London, New York or Hong Kong, its small territory is by no means an obstacle to performing the functions of an international center for the management of assets and private wealth.
With a high income level compared to other Asian countries, Singapore offers the world the most entrepreneurial regulatory environment, making it one of the most competitive economies in the world.Singapore ranks 11th in the world in terms of the number of millionaires: in 2020, there were 1,361 ultra-wealthy people in the country, whose fortune exceeded $ 50 million.According to experts, the total wealth of Singaporeans over the past year increased to $ 1.6 trillion ($ 1.5 trillion in 2019).
Singapore and Kazakhstan have been maintaining close friendly relations for a long time. Kassym-Jomart Tokayev began his diplomatic career in 1975 in Singapore, when the USSR Ministry of Foreign Affairs sent him as part of the embassy to this country, which at that time was only 10 years old.Since then, Singapore has grown and developed rapidly, today becoming one of the four “Asian tigers”. The country’s high level of development leaves no doubt: it ranks ninth in the UN Human Development Index and second in terms of GDP per capita in the world. It is the only country in the Asian region with a sovereign AAA rating by all major international rating agencies. One of the largest financial and transport hubs, since 2013 regularly ranked among the most expensive cities in the world in terms of the cost of living, while demonstrating the highest levels of the main indicators of socio-economic development – education, healthcare, quality of life, personal safety and housing (91 % of the population).
The capitalization of the Singapore stock market is $ 657 billion, which makes the Singapore SGX exchange ranked 15th in the world, right after the Moscow Exchange ($ 698 billion). Since the beginning of the year, the STI is up 12.78%. The current return of 12.9x does not appear to be overstated relative to its historical average of 13.3x, especially in light of the projected growth in revenues for Singaporean companies both this year and next. Their revenues are expected to grow by 14.2% in 2021 and by 11.1% in 2022.In terms of P / B (price / book value), the STI is 1.1x, less than the 10-year average (1.21x).
Singapore, as an integral part of the global economy, may continue to strengthen further after the end of the pandemic. There is a growing perception among investment bankers and stock market analysts that Singaporean stocks will rise in value as the global economy recovers.90,000 Singapore architecture: no better place
Singapore is a state of temptation, a temptation to drop everything and move here.This is a country of success, luxury, comfort and new technologies. Let’s start with the Museum of Science and Art, the building was built in 2011, the author of the project is Moshe Safdie.
This structure stands next to the Marina Bay Hotel and together they create a wonderful view. As you might have guessed, the architect made the building in the shape of a lotus flower. There is, of course, an alternative version, someone says that this building was built exactly like this, because these are fingers that are raised to the sky, ten fingers of two hands.Almost everything is made of fiberglass – the main material. What about spiritual beauty? The pool accumulates and then recycles water after rain, a cycle is obtained, which has a positive effect on the environment. So, Singapore is not only a modern state, but also a caring one.
In 2004, the building of the famous “Tiger Sky” in Singapore was opened; this is a tower that has become the main gathering place for tourists on Sentosa Island. This is, by right, the largest and most spectacular observation deck in Asia, one might say – an ultra-modern Ferris wheel.At the same time, 72 tourists can be here under glass. Cooling systems work here, and the structure is located so that you can look at the two neighboring states of Indonesia and Malaysia from a height of 131 meters.
Attention Audi fans, Singapore is home to the most spectacular dealership building. This is the eight-story center of the German giant, which is adorned with brutal aluminum panels that create a stylish look. In general, auto sales centers rarely turn to name architectural works, this is just an exception.The facade looks like a honeycomb of bees, such a pattern. And this splendor was built in 2012.
The Gardens in the Bay Landscape Park of Singapore’s incredible beauty is a fairy tale that defies any conceivable explanation. 220 thousand plants collected around the world are located here, in addition, the park is crammed with various attractions, there are some reinforced concrete trees that are decorated with lights. These are not just beautiful dummies of trees, these are full-fledged trees from the point of view of life, they also feed on light, they collect rainwater and distribute it among the plants of the park.
An amazing place in different forms – the School of Art in Singapore. This is an unusual building with incredible landscaping, a real work of architectural art, the rear looks like a land art object. This is a project by a Hong Kong architect, he was developed in 2009. Artists and designers are trained here, such a building simply could not be ugly. The five towers of the complex are connected by terraces for the passage.
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How to properly evaluate real estate before the transaction90,000 Singapore Grand Prix: Comments after Race
Paul Hembri : “Once again we saw a tense race in which different strategy options determined the balance of power at the finish.
At the final stage of the Grand Prix, Lewis Hamilton, riding on a fresher set of tires, was behind Sebastian Vettel, whose car was worn out, and the Briton had to overtake to ensure his victory. A little earlier, Hamilton, on faster SuperSoft tires, needed to create a comfortable thirty-second gap after leaving the track of the safety car in order to have time to switch to Soft and not lose position.
Despite the fact that the riders used completely different strategies, the lead-off at the finish was minimal. “
Mercedes AMG Petronas F1 Team
Toto Wolff , Head of Mercedes Motorsport: “Lewis had an incredible race. After leaving the safety car, he had to drive at a qualifying pace to create a lead – he acted flawlessly. On days like this, racers like Lewis show the difference between star pilots and superstars. I congratulate him.
On the other hand, Niko was having a bitter day. There seems to be a problem with the steering column wiring – this is the source of the problem.When Niko returned to the pits, I went up to him to apologize for the fact that the team let him down – he behaved very professionally in this situation. Our car is very fast this year, but the reliability issues are frustrating. Today we will send the details to the base to find out the cause of the incident. We have a great team, we will definitely find out everything and do it so that this does not happen again.
If we assess the situation in the championship, then both drivers have to work under pressure, because there is a small gap between them for five races before the end of the season.As a result, we will have some more gray hair, but this is great for Formula 1 fans. ”
Paddy Lowe , Technical Director: “Today the team experienced conflicting emotions – on the one hand, Lewis won a fantastic victory, on the other, we are disappointed with technical problems on Nico’s car. Although we have not fully figured out the cause, he had problems with the electronics in the steering column. The problem manifested itself on the way to the grid, so we changed the steering wheel in the hope that it would help.However, after the start, it became obvious that only the gear changes were working.
Niko could not control the clutch and other functions that are displayed on the steering wheel. Among other things, the power of the hybrid system dropped significantly, so it could not overtake even the slowest rivals. During the pit stop, the box got stuck in neutral and we decided to retire because a complete reboot of the system could be dangerous. I can only apologize to Niko.
On the other side of the box, Lewis had a fantastic race.He kept a high pace and controlled tire wear better than his competitors. The arrival of the safety car in the middle of the race drove us into a corner, while others decided to switch to Soft to reach the finish line. However, we made the right strategic decision to stay on the track, and the rest was done by Lewis.
We hoped to create such a gap in front of Vettel, so that after the final pit stop he remained the leader, but the tires on his car were not allowed to do so.As a result, after the stop, Lewis had to work a little more, but he took advantage of the fresher tires and made a beautiful overtake in the seventh turn. Lewis piloted confidently and the effort paid off. ”
Lewis Hamilton (1st): “It’s nice to come to Singapore after winning at Monza and start the final part of the season with such a competitive car. The race could have turned out to be very difficult if Niko remained among the leaders, since it is obvious that we had speed.
I was comfortable in control of the situation until the safety car came along, which created some problems. I attacked with all my might to break away, but then the tires lost their pace, and I did not know what to do – continue to attack or try to keep the rubber. As a result, we decided to hold a pit stop, after which I returned to the track immediately behind Sebastian Vettel. However, I knew that he was on the strategy of two pit stops, and the tires on his car are badly worn out. I overtook him on the long straight – the gap was very small, but perhaps I should have chosen another place to overtake.Fortunately, I was able to come forward.
The result could not be called perfect due to Niko’s departure. What has happened shows that we must continue to work to improve reliability. However, the guys did a great job at our bases building this awesome car. Now we need to continue to work hard to prepare for the race in Japan, which will be held in two weeks. ”
Nico Rosberg (descent): “Problems with the steering wheel began in the pits even before the start.Then there was a difficult moment when I could not get under way from the starting grid – neutral gear did not turn off. After leaving the pit lane, I could only change gears – neither the radio nor the DRS worked, the power of the hybrid system dropped. We hoped that all systems would work, as happened with the radio, and the situation could be changed. However, after the steering wheel was changed again, it was decided to withdraw from the race.
Difficult day. Unfortunately, the team faced reliability issues again.At least for Mercedes, the good thing is that Lewis won. Now we need to analyze what happened and optimize all systems, because reliability is our problem this year. ”
Infiniti Red Bull Racing
Christian Horner , Team Leader: “Both riders did a great job. After cutting off the chicane at the start, Fernando returned the position to Sebastian, but not Daniel, and then a strategic struggle unfolded.
At the first pit stop, we put softer tires, but Fernando took the lead, so the strategy had to be adjusted.The departure of the safety car put us in a difficult position – we had to decide whether the riders would reach the finish line on one set, but they coped, finishing the race on worn tires.
The second and third places are an excellent result of teamwork, especially with a double pit stop, which we made extremely quickly. ”
Sebastian Vettel (2nd): “I really love this track. Singapore has an incredible atmosphere and a very difficult race.
I had a good start, ahead of Daniel and drove a decent distance.When Alonso took the lead at the pit stop, we adjusted the strategy to recoup. The safety car pulled out at the wrong moment, but I managed to keep the rubber until the finish line, although it was not easy.
At the end of the race, there was no point in fighting Lewis – he was driving on fresh tires, and my tires were already seriously worn out. It’s nice to get cold champagne on the podium! ”
Daniel Riccardo (3rd): “In qualifying we were close to the results of Mercedes and, frankly, hoped for a better pace in the race.Alas, in the first segment there was not enough speed, problems with the brakes and the power plant, which went away and appeared again, interfered, so I am glad to earn a lot of points.
For me this race is like a home race. From Singapore to Perth is about the same as from Perth to Melbourne, for the inhabitants of Western Australia it is relatively close. In two weeks we will be performing in Suzuka, where we will again have a reason for optimism – I am looking forward to it. ”
Marco Mattiacci , Team Leader: “Today’s race could have provided us with the best result, because thanks to the team’s quick reaction to the disappointing results of the Grand Prix at Monza, we were competitive throughout the weekend.Our pace turned out to be good, and a successful strategy helped Fernando rise to second place, but later we lost him. Kimi got into traffic and had to slow down due to tire wear, and although he had a good start, he was unable to reclaim the places he occupied.
The advent of the safety car influenced our strategy and race results. However, I am sure that the only strategy that can ensure victory is having a competitive car. We are leaving Singapore showing signs of progress.In this sense, the stage in Suzuka will be an interesting challenge, forcing us to improve in precisely those areas in which we want to achieve improvement. ”
Pat Fry , Chief Engineer: “The efficiency of the machine in Singapore was a pleasant surprise for us, this season we were not so close to the leaders. The characteristics of the track, the progress made, the talent of the riders and the way our car performed on softer tires are just some of the elements that explain our good shape this weekend.And although the pace looks very encouraging, it is not enough to achieve the goals of the team, and it was very disappointing to see how the second place eludes us due to the emergence of the safety car.
Unfortunately, in Kimi’s case, we weren’t able to get the most out of the car: he had the potential to do better if Massa hadn’t blocked him, and then, even on fresher tires, his top speed wasn’t enough to get ahead. Bottas on a straight line.As in Monaco, it is difficult to overtake on this track and the appearance of a safety car can stir up the grille. In Suzuka we will have another chance, and we will try again to compete with Red Bull Racing and especially Williams in the constructors’ championship. ”
Fernando Alonso (4th): “In hindsight, it’s easy to ask yourself what would have happened if I hadn’t made a mistake at the start or if the safety car had appeared at a different moment, but overall I’m happy with this weekend, because we were competitive and could fight the leaders.Sometimes the appearance of a safety car can help, but today in this sense we were not lucky – at that moment we were trying to keep the second place, and the strategy allowed us to do it.
We didn’t have much choice, if at that moment I had stayed on the track, there is a high probability that the pit stop made later for the transition to Soft would have cost more seats. And although at the end of the race I could not overtake, the fact that we were competitive to the finish confirms that we have taken a step forward.The Suzuka track will give a clearer picture of the balance of power. ”
Kimi Raikkonen (8th): “Today’s race was disappointing, despite a good pace, I could not finish in the positions I expected. I had a good start, played a few places, everything went great. But after the first pit stop, I lost position relative to Felipe and spent the rest of the race for Williams.
Unfortunately, every time I got close to attack range, the car lost its aerodynamic efficiency at the rear and the tires quickly wore out.It is a pity that I could not lead my race, even though we knew in advance that speed on the straight is the strong point of our competitors. I’m not happy with the eighth place, but the positive side is that this weekend we saw progress. I’m sure if it goes without problems, things will go better. ”
Williams Martini Racing
Rob Smedley , Chief Engineer: “We knew that this weekend we would have to minimize losses, so we can be happy with the result, because until the last turns we kept the chance to earn a little more points than our closest rivals in the constructors’ championship.
The team took a calculated risk when choosing a strategy, which helped Felipe get ahead of Kimi Raikkonen, although the pace of Ferrari was higher. But in the case of Valtteri, this did not work, as on the last lap his tires lost efficiency and he lost the sixth position.
The drivers did an excellent job on the track and the team did a great job throughout the weekend. Ahead of the race on the tracks, where our car should be more efficient. In addition, we have achieved the goal set at the beginning of the weekend, retaining the third line in the Constructors’ Championship ”.
Felipe Massa (5th): “Due to the long stay on the track of the safety car, we switched from three pit stops to two, on the last stretch I tried to maximize the potential of the rubber, and I managed to make it work. On a few final laps, the grip was extremely low, but I had a big enough lead over the sixth-positioned rider to make it to the finish line.
Taking into account the peculiarities of the track, the fifth position is the best result that we could count on.But of course, I sympathize with the team, because the tires of Valtteri did not hold up to the end of the distance. ”
Valtteri Bottas (11th): “After the safety car, we switched to a strategy with two pit stops, and at the end of the race the tires did not hold the track at all. On the last lap, I strongly blocked the rear wheels, defending the position – the grip completely disappeared, and I was overtaken without any problems.
In addition, on the last stretch, there were problems with the power steering, I felt the car worse – it became more difficult to keep the tires in working order.If not for this problem, I could finish in sixth position.
Of course, I’m upset that I didn’t score points, but this weekend there were many positive moments. We were competitive on a track that didn’t quite fit our car and kept our third position in the Constructors’ Championship. ”
Scuderia Toro Rosso
Phil Charles , Chief Race Engineer: “I’m very happy. Vergne had a fantastic race! He was twice punished with a five-second penalty, we knew that the second penalty would be added after the finish, so we kept him informed of the lead from the rivals.After several overtakes, he managed to finish with an advantage of more than five seconds, so he held on to his sixth place.
Jean-Eric did everything right today, the team did a great job – everything went as we planned, so we are satisfied. He needed such a result – Jean-Eric is doing his job well this year, but before he was often unlucky.
For Daniel, the race turned out to be extremely difficult physically – from the start in his car the drinking water supply system did not work, he suffered from dehydration.We are sorry about this issue that has jeopardized his race. ”
Jean-Eric Vergne (6th): “Excellent result in a fantastic race, I am very satisfied, especially considering the two five-second penalties. In the last laps, I had to attack with all my might to create a gap, and I succeeded. Incredible race!
Yesterday I made a mistake in qualifying and told the team that I would do everything to fix it. I think I succeeded. I am also glad for our guys, who perfectly prepared my car – the sixth place will be an excellent compensation for their work.
I think the end of the season can be positive. I look forward to the Japanese Grand Prix, where we will have some new products, and I hope for further progress. ”
Daniil Kvyat (14th): “The race turned out to be very difficult for me – I had to fight more with myself than with my rivals. It was not easy to operate the car, it constantly slipped, and there were difficulties with tire wear. Unfortunately, the water supply system did not work – I did not drink the whole race, which made everything very difficult.
I think today we could have earned points, which was proved by Jean-Eric – he did a great job! ”
Sahara Force India F1 Team
Vijay Malia , team owner: “We are leaving Singapore, earning eight points and intercepting the fifth place in the Constructors’ Cup – a fantastic result! The day was intense, especially for Sergio, and only in the last laps the situation turned in our favor.
We had to make difficult decisions, but they all turned out to be correct.Yes, in some ways the team was lucky, but we used all the chances presented, and Niko and Sergio did a great job in the race. This is an excellent start for the remaining five stages, in which it will be extremely important to earn points with two cars. “
Sergio Perez (7th): “The race was intense, and the last few laps were very interesting. I am very pleased with our speed – we finished ahead of the main competitors. The riders in front of me had problems with tire wear, but also not everything went smoothly for me.When I caught up with a group of cars, I also lacked clutch, which made it difficult to overtake. However, I successfully monitored the condition of the tires and was able to break from 15th to 7th – a great result!
The team came up with a fantastic strategy that worked for me and Niko. Today is just the case when the race leaves tremendous emotions: it’s not just glasses, it’s all about how they were obtained. Everything was against us, but we did not give up and finished in the top ten! “
Niko Hulkenberg (9th): “Great day! Nice to earn points for the team.The race in Singapore is always difficult, especially in terms of strategy. Perhaps we could have done better.
After the safety car left, I had to drive thirty laps on Soft tires, and closer to the finish line, like many competitors in front, I lacked grip. Perhaps one should have held another pit stop and tried to finish higher with fresh tires, but it is very difficult to make such decisions during the race. It’s good that we earned points with both cars. “
Eric Boullier, racing director: “To earn just one point after two hours of incredible effort is a very frustrating result for the whole team. the failure of the power plant was a bitter disappointment.
For Kevin, who had a brilliant lap yesterday in qualifying, the day was just awful. The first segment went well, but on the second the tire wear was higher than we expected, which forced the transition from two pit stops to three.The situation was aggravated by the fact that the cockpit of his car began to overheat, and Kevin had to alternately raise one or the other hand in order to direct the flow of air into the overalls. Through impressive aerobatics in extremely difficult conditions, he was able to earn one point for the team – little consolation, but this is confirmed by his incredible fighting spirit. “
Kevin Magnussen (10th): “A very difficult race. During the race I did not know if there were any problems with the car, but the seat gradually warmed up, so I felt extremely uncomfortable.Without these troubles, I could finish above tenth place, but at least I earned one point – it’s better than nothing. I’ve never put in so much effort. “
Jenson Button (exit): “I was preparing for the final phase of the race, the bank of the tire and knew that on the last five laps Valtteri Bottas, who was driving in front, would have difficulties. I switched the car to the desired mode, the chase became more interesting, but after a few turns at the entrance to the hairpin, the power has dropped.Having passed the bridge, I was forced to stop. I was really looking forward to the end of the race, because I was sure that I could overtake Valtteri. It didn’t work out, I was just unlucky. “
Lotus F1 Team
Federico Gastaldi , Deputy Team Leader: “Pastor and Roman were very close today to score points. Unfortunately, in the end we were not able to realize this chance, but the team did an excellent job so that both cars reached the finish line, after all the problems that followed us during the weekend.So I am satisfied. Not in seventh heaven, but satisfied. ”
Alan Permein , Chief Race Engineer: “Unfortunately, today our pace was not enough to compete for points, but we were very close to that, closer than recently. The advent of the safety car certainly influenced our strategy, and it is difficult to say what we could have achieved if not for that. We are pleased with the progress of the E22 and hope to be able to use it in the next races. ”
Pastor Maldonado (12th): “Today we achieved the maximum, we had a strong and stable race.I am very happy about this after all the problems that arose during the weekend. I stayed in the pits once more than the others, but this did not affect my position. Tough race, especially the last ten laps, when you had to closely monitor the condition of the tires, but I think we did well today. ”
Roman Grosjean (13th): “It was hot. Before the safety car, the situation looked good, we fought for points. Unfortunately, I attacked too actively on restart.I wanted to do my best, but for the cold Soft tires after slow laps behind the safety car, this was too much. After that, I could no longer make my way to the top to earn points. ”
Caterham F1 Team
Manfredi Ravetto , Team Leader: “The weekend in Singapore ended very positively – in terms of reliability we managed to outperform Sauber, for the second race in a row we are ahead of Marussia on the track. The team is clearly on the rise and I would like to thank all the staff on the track. and a base in Leaffield.We all did a great job, I am proud of our team! “
Markus Erikson (15th): “What a race! One of the best for me this season, no doubt! I am very happy for the team, this result is a great way to thank everyone for their incredible work. We beat our closest competitors after we couldn’t hold on to them from the start of the weekend.
The team worked to the maximum, chose the right strategy, and I did not make a single mistake.It’s great, but to build on the success, you need to keep working and progress in each race.
Closer to the finish line, we decided to stay on harder tires, and I knew that Bianchi, who made the pit stop, would catch up with me, so I tried to prepare as much as possible for the defense on the last four laps. I managed to keep the efficiency of the tires and keep Marussia behind – well done! “
Kamui Kobayashi (retirement): “An offensive result of a weekend in Singapore. On the setting lap, the car lost power, then I smelled burning, the next moment the brakes failed, and I decided to stop because the situation was too dangerous, and we could not change anything.I was really looking forward to this race, it’s a shame that I did not manage to take part in the fight, but this happens in motorsport. “
Marussia F1 Team
John Booth , Team Leader: “The race was not an easy test, but we were waiting for it, so first of all I want to thank the riders and the team for their incredible efforts in controlling all aspects.
Overall, the result did not live up to expectations. In most cases we were stronger than Caterham, but the loss of efficiency of the Soft tires as the peloton held back the safety car became a deterrent.As a result, they had to spend three pit stops, and the opponents stopped twice in the pits. Both cars had problems: Jules had the brakes, and Max had a drop in tire pressure due to valve problems. ”
Jules Bianchi (16th): “Not the easiest day, but there are a few positives. We approached the Lotus of Pastor Maldonado and Sauber Adrian Sutila, so at least the lag behind these teams did not exceed the usual indicators.
It is a pity that due to brake wear problems we did not manage to get ahead of Markus Erickson.The Singapore Grand Prix is a very difficult race, here you have to control many factors, in particular, the brakes. The emergence of the safety car after Sergio Perez’s accident eliminated the breakdowns, so that any advantage was lost, especially since we had problems with the Soft tires. ”
Max Chilton (17th): “Difficult race. I stalled on the pit lane on the exit circle, I had to return to the pits. Then I started well and almost caught up with Erickson, but a little later I fell behind him, because in the first segment Nico Rosberg overtook me and stayed between us for a long time.
After the first pit stop, I had to return to the pits again – the pressure in the right front tire dropped due to a valve problem. This spoiled our strategy – we had to switch to Soft earlier than planned. The situation was worsened by the appearance of a safety car on the track at a time when I could not use it, and it ruined my final stretch at SuperSoft. ”
Sauber F1 Team
Monisha Kaltenborn , Team Leader: “Disappointing race.Esteban was in a good position, but had to withdraw due to problems with the power plant. Adrian’s car had a fluid leak and the team decided to remove him from the race so as not to risk engine failure. We need to analyze the reasons for what happened. ”
Giampaolo Dall’Ara , Chief Race Engineer: “Unfortunately, the race was over for us again before the checkered flag due to reliability issues. Esteban’s car had problems with the electrical power plant.Adrian had a fluid leak, forcing us to take him to the pits as a precaution so as not to damage the engine.
Esteban was supposed to use a two-stop strategy, but his race ended too early to know how it would have worked. Adrian had planned to stop three times and I think we made good use of the period behind the safety car to get him back into the fight, but then he had to get off.
This is one of those races in which we tried to provide all the options for the development of events, and in this sense, everything went according to plan.We have seen in the past that just getting to the finish line is sometimes enough to score points, but this time we were unable to do so due to reliability issues. ”
Esteban Gutierrez (retirement): “I don’t have much to say about the race. It is almost impossible to achieve good results now – for this you need to squeeze 120% of its capabilities out of the car, but technical problems complicate the task even more. So far, there is nothing I can do to avoid them.
We need to look ahead, and in the next races we must use all available chances.Continuing the fight is the most important task of the team at this moment. ”
Adrian Sutil (retirement): “The next retirement for technical reasons is very upsetting. Today we had a good chance of earning points. At the very beginning, there were problems with the engine, but we were able to solve them and continue the fight without changing the strategy.
As far as contact with Sergio Perez is concerned, there is little to say other than that he suddenly crashed into the back of my car. Fortunately, there was no damage. “90,000 United Aircraft Corporation will widely present Russian aircraft at the Singapore Airshow
United Aircraft Corporation will widely present Russian aircraft at the Singapore Airshow
The United Aircraft Corporation (UAC) will take part in the 2016 Singapore Air Show on February 16-21. The Asia-Pacific region is one of the key regions in terms of the corporation’s market strategy.UAC products will be represented by a line of military and civil aviation aircraft manufactured by the corporation’s enterprises. The stand will feature models of Su-35, Su-32, Su-30SM, Yak-130, Yak-152, Be-200 aircraft, as well as SSJ100 and MS-21. Also, within the framework of a single UAC exposition, the MC-21 flight simulator will be presented for the first time in Southeast Asia. In the static parking lot, visitors to the cabin will be able to familiarize themselves with the Sukhoi Superjet 100 (SSJ 100) aircraft in the livery of the Russian airline Yakutia.
UAC civilian products have significant potential in the Asia-Pacific region: according to the corporation, aircraft of the SSJ family can occupy up to 15% of the local market, sales by 2030 may exceed 150 aircraft.
The market of China and Southeast Asia is the fastest growing and most promising in the world. According to analysts of the corporation, the average annual growth of passenger traffic in Asia in the next 20 years will be about 6% (higher than the world by 1.3%), which in the future will make the Asia-Pacific region one of the most capacious in the world in terms of demand for new aircraft until 2030 …
As part of work with promising customers, the SSJ 100 and MC-21 programs will be presented during the air show. This will allow air carriers to appreciate the advantages of airliners – reliability, high level of comfort, cockpit ergonomics and other advantages of new Russian aircraft.
Traditionally, the UAC military brands have a strong position in the region’s market. About 400 Su and MiG aircraft were delivered to Southeast Asia. Fighters of the Su-30 family have been selected as the main combat aircraft by the air forces of a number of countries in the region.At the Singapore Airshow, these and other potential customers will be presented with the latest Su-35 and Su-30SM aircraft, whose characteristics allow them to surpass all tactical fighters of the Generation 4 and 4+.
The new generation Yak-130 jet trainer aircraft allow training pilots of fighters of generations “4+” and “5” at the most modern level and are ideal for training pilots of the air forces of the countries of the region. For the first time, a model of the Yak-152 piston primary training aircraft will be presented, which, in combination with the Yak-130 aircraft and modern aviation simulators, allows organizing a full training cycle for fighter pilots.
The UAC competition won the KnAAZ project for the introduction of augmented reality technologies
The corporate center of the UAC transport aviation division merges with the factories of thedivision
UAC takes part in the exhibition “Discover Mosprom. Big city mechanisms “90,000 life hacks and pitfalls / Habr
Singapore, Cyprus, China, Holland are the states that first come to mind when it comes to offshores for IT companies.But in this article, I’m going to talk about a country that borders Russia and offers surprisingly very tempting conditions for IT start-ups. Checked for yourself! Let’s go?
The need to open my own IT company was caused by the launch of the mobile game CubenatiK, the ideological inspirer and the main developer of which was our son, who at the age of 13 wrote all the code for this puzzle.
Adventurers by nature, we decided to combine business with pleasure: go on a journey, completing the game at the same time and dealing with registration issues.Having studied the possible and available options for us, we settled on the most non-trivial – Georgia .
At the time of our departure, only the only source on the Internet spoke in sufficient detail about the working conditions for Georgian IT companies. This information was enough for us to go on a two-month business trip to Tbilisi and check out the innovations of this country on our own experience.
So, the main profits for Georgian IT companies:
- company registration in 2 days
- Free opening a bank account
- lack of financial monitoring
- obtaining the status “face of a virtual zone”
- tax exemption, excluding 5% on dividends
- 2 months of free accounting services
- very cheap fruits, vegetables, transportation, accommodation and entertainment – a cool bonus to the above
Startup company registration
The full cycle of company registration takes two days from the date of submission of documents to the Tbilisi House of Justice (also called Public Service Hall).This is one of the most famous futuristic buildings with a petal roof, which can be seen in most of the views of the Georgian capital.
To open a company you will need the following documents:
- Foreign passport.
- Charter in Georgian and Russian (in some cases in English).
- Legal address.
You will hardly have any difficulties with the first point, but I will tell you about the next two in more detail.
You can request a model charter in both languages from the consultants at the House of Justice. It will contain a minimum of information that you need to fill out: form of ownership, name and address of the company, founder, field of activity, contact information. However, if you are not a native speaker of the Georgian language, then a translator must fill in the charter and make changes to it.
A question with a legal address also depends on your personal wishes and possibilities. A title deed, lease agreement or permission to use the address is required as proof.Naturally in Georgian.
If you do not intend to rent office space and are not going to make significant changes to the charter, then the registration process will be greatly simplified. All you need is to come to the House of Justice.
At the entrance you will meet local citizens offering numerous services for foreigners: from rental housing and tourist trips to notary services. You will certainly be offered assistance in translating documents and providing an address for registering your company.Do not be afraid and believe me, you will save a tremendous amount of time.
We did just that. After we got acquainted with the list of necessary documents and studied the model charter, at the exit from the House of Justice a girl approached us and for 100 lari offered to translate documents and provide a legal address for the organization. She took us to a cafe located on the first floor of the institution, prepared a charter, a lease agreement and invited an employee of the Ministry of Justice.
This is the first page of our Charter
Here you can read the full text of the document
Permission to use the address
The specialist accepted all the documents, scanned the opening of the passport, prepared an application for persons and a receipt for payment of the state duty (130 GEL).Then she assured that an SMS notification would be sent to the phone on the day when it would be possible to pick up the finished documents at the House of Justice.
Application for opening LLC
Bingo! The whole procedure took us less than an hour, cost 230 GEL and was carried out in very comfortable conditions over a cup of tea. Exactly two days later, we received an SMS stating that the legal entity was registered and that the documents could be collected.
The next step in registering an IT company in Georgia will be opening an account.
In the House of Justice on the first floor there are branches of three banking institutions: Bank of Georgia, TBC Bank and Liberty Bank. TBC is considered the most loyal, and we began to work with him.
Opening an account for a new company will be free, but if you decide to order a corporate card, you will have to pay for its annual service. You can manage your working account remotely, as you have access to Internet banking and a mobile application.
TBC Bank has also developed favorable terms of lending and non-financial support for start-up companies.However, you can become a participant in this program only if you have a Georgian residence permit or, if the director and co-founder of your company is a citizen of Georgia with a 51% share in the joint business. This moment must be recorded in the Charter.
In addition, Georgia is not a member of the international system of automatic exchange of financial information, therefore, Russian and other foreign tax authorities will not become aware of Georgian bank accounts and movements on them.At the same time, money from corporate and personal cards can be withdrawn at any ATM in the world.
Registration in services
After submitting documents for opening a company in the House of Justice,here
all available information on your company will be available for you: scanned documents, registration status, etc.
All documents are on the site in the public domain
I advise you to save the scans, as later on you will have to copy and paste the data in Georgian more than once.Most of the services you will be working with require filling in the local language.
Extract from the register of legal entities of Georgia
One of the first will be the site of the tax service of Georgia, in which you need to register after receiving company documents in the House of Justice. The process is quite simple, but, as I said earlier, you need to enter data in Georgian.
When registration is completed, you will receive an invitation letter to come to the tax office to confirm your electronic signature.I want to warn you right away: the sent letter is generated automatically and the address of the branch is set based on the location of your legal address.
You may face the fact that the proposed tax office will not work. We were invited to the tax office for Marjinashvili, but upon arriving there we found out that the building had been closed for repairs for a very long time. As a result, we had to go to the department at Merab Kostava, next to the Polytechnic Institute. It should be noted that in the branches there is a rather fast electronic queue, and most of the employees speak fluent Russian.
Congratulations! From this moment you become an official taxpayer in Georgia 🙂
After confirming your electronic signature, you will have full access to your personal account on the tax website. Before starting work, you should open all documents located in the “Inbox” folder. This is a simple formality. The letters contain information about all the adopted laws for legal entities since 2008: licenses, taxation, announcements, etc.
After that you go to the section “information about the taxpayer” and select the OKVED codes corresponding to the activities of the company, and in the section “Branches / services” fill in the information about the legal address.
Here you select OKVED
And here enter information at the address
“Face of the virtual zone”
Now you can start legalizing the right to useof the status
“Face of the virtual zone”. To do this, you need to obtain an electronic certificate.
On the website of the Ministry of Finance of Georgia, you enter your login and password, which are linked to your tax account. You will be presented with a page with personal information already filled in.All that remains is to enter your e-mail and your Georgian phone number. In the “Request” section, briefly describe the type of activity of the company, planned projects and send an online application. You will have to write in Georgian, so a google translator will help you.
As a rule, the receipt of the certificate takes place within ten days. We were given it three days after the application was submitted. The certificate is issued only in electronic form and is always available on the newzone.mof.ge website.
And this is our virtual access to the possibilities of the offshore company
What is this – the magical status “Face of the virtual zone”?
This status is assigned exclusively to those companies that operate in the field of information technology on the territory of Georgia.Any activity related to IT takes place in accordance with therequirements of
IT startups are exempt from paying taxes, except for:
- 5% – dividend tax
- 20% – income tax on employees
- 2% – Pension fund tax from resident employees
However, if you do not officially hire employees, and even more so if residents of Georgia do not work in the state, then the need to pay any taxes, except for 5% on dividends, automatically disappears.
It is important to remember that this taxation system only works if your company’s income comes from foreign countries.
As, for example, in our case, when the counterparties are foreign Unity, AppLovin, etc. But if you decide to perform the work for a Georgian customer, including for the Georgian branch of a foreign company, then the income that you receive from this transaction will be subject to standard taxes: 15% on profit, 18% VAT.
Consider these points when concluding contracts.
For the reason that none of us wanted to take on the red tape in accounting, and no serious transactions are foreseen yet, we decided to hire a local accountant for outsourcing. At the same time, the peculiarity of our cooperation was that we received the first two months of support free of charge, then the rate of 500 GEL per month begins to operate. In the future, payment may change, depending on the amount of work.Therefore, I cannot give any detailed recommendations on the issue of self-reporting.
Despite all the advantages and benefits of starting an IT business in Georgia, we also encountered some difficulties that you will not read anywhere else.
Google still prevents Georgian developers from receiving income from advertising and publishing any paid applications in their store. Including there is no opportunity to work with Google AdWords, since when choosing your country you will not find Georgia.
Unfortunately, we learned about this only from our own experience, being already in Tbilisi and registering LLC there. But since CubenatiK is a free game, and monetization occurs through advertising, we solved the problem of income and marketing by using other ad networks: Unity, AppLovin, Chartboost.
As for Apple: we have not launched the game in the AppStore yet, and therefore we cannot say for sure about the possibilities of earning money for developers in Georgia. But it is known for sure that Georgian users of Apple products have difficulties with the work of the store.Many games and applications are not available to people, and very often it is impossible to make in-app purchases.
While in Tbilisi, we tried to find out the reasons for this state of affairs in such a seemingly banal question, but did not receive intelligible answers. According to local officials and bankers, the situation will be resolved in the near future.
If you are going to open a company in Georgia and start developing and publishing applications, be sure to monitor the information about changes in Apple and Google for Georgian developers!
Since we expected to stay in the Georgian capital for at least a month, the daily rent of housing was not the most profitable option for us.There was no need to rent an apartment for too long, for example, through myhome.ge (the Georgian analogue of Avito).
To begin with, we tried to find apartment owners through airbnb who would not refuse to check in for a month at a reasonable price. Three hosts agreed to our terms and we chose the most suitable three-room apartment next to the metro for 800 GEL per month. We didn’t have to pay extra for utilities.
If you decide to use this method of searching for housing, take into account the seasonality.It may be more difficult to find an apartment this way during the summer months.
Depending on the budget, you can find a lot of interesting accommodation options in Georgia: from luxury hotels in the trendy districts of Tbilisi to couchsurfing service, with the help of which you can get to know the hospitality of local residents.
One of the largest markets in Tbilisi – Desertersky was located 20 minutes walk from our house.In addition to the fact that prices on Georgian markets are several times lower than in stores, they are also very different from Russian prices for fresh produce.
Considering that we got to Georgia in autumn, we were very lucky with the seasonal variety of vegetables and fruits, one kilogram of which, on average, cost one lari (a little more than 21 rubles). Therefore, if you want to eat fresh, ripe feijoa, tangerines, persimmons in the morning, drink pomegranate juice and prepare fragrant vegetable salads for dinner, then October Georgia is waiting for you.
The price tags indicate the amount in Georgian tetri (1 lari = 100 tetri)
A little more photos from the Deserter market
In the same place, in covered markets, I advise you to buy frozen khinkali, which are not much inferior according to their taste, quality, restaurant composition and are very easy to cook on their own. At the same time, you will save a decent amount of money.
For comparison, a portion of 5 khinkali in a restaurant will cost you about 6 GEL.For the same money on the market you will buy 5 times more of your favorite dish .
Do you smell the scent?)
Public transport and taxis are also very cheap compared to Russian ones. A single card is used for metro and ground transport, the cost of which is 2 GEL. At any time, you can return the card with a check to any metro ticket office, refunding the 2 GEL you paid. The fare itself costs 0.5 GEL for all types of urban public transport.
To call a taxi, it is most convenient to use the services of Yandex, which offers fast car delivery and favorable rates.
Various companies and car rental services also operate in Tbilisi. We managed to use the services of carsharing – AiCar, the fleet of which includes only electric cars Renault Zoe and Nissan Leaf. To use the car, you need to download the application, upload your passport and driver’s license.
Prerequisites are imposed on users: age over 21 years and driving experience over two years.In AiCar, there is also a rule according to which the car can only be used within the urban area and Mtskheta. But in order to see the sights of ancient Mtskheta and admire the surrounding panorama from the height of the ancient Jvari monastery, renting such an electric car would be an ideal solution. We spent 4.5 hours behind the wheel of such a Nissana and drove 71 kilometers, paying 50 GEL for a short trip.
View of the city of Mtskheta and the Jvari monastery
What to see
Mtatsminda, Narikala, Abanotubani, Sololaki, Metekhi, Svaneti, Alaverdi, Kakheti, Vardzia, Batumi, Ananuri, Ushguli, Kazbegi – on weekends you will not be able to get bored in Georgia.She, like a treasure, conceals a huge number of ancient, delightful sights, natural beauty and warm hospitality.
And finally …
Our family business trip to Georgia lasted two months: from October to December.