The Asian Development Bank (ADB) will be providing technical and financial assistance to help countries in the Open Government Partnership (OGP) implement their initiatives, announced Joe Powell, Deputy Director, OGP Support Unit. “The ADB’s support will focus on exploring opportunities to provide technical and financial assistance to help countries meet OGP eligibility criteria and to develop and implement OGP action plans,” he wrote this week in an OGP blog announcing the partnership.
Direct insurance business DirectAsia.com launched in Singapore in 2010, aiming to disrupt traditional Asian insurance models, bypass agents, and deal direct with the customer. After the successful launch, it expanded into Hong Kong in 2012, and Thailand the following year. The acquisition by specialist insurer, Hiscox, at the end of Q1 2014, signalled the start of a new chapter in DirectAsia.com’s development.
SINGAPORE: Banks and financial services companies in Singapore are increasing their spending on cyber-security to keep IT systems safe from attacks, with 60 per cent indicating they will up such expenditure this year compared to 2013, according to recruitment firm Robert Half. Singapore’s average of 60 per cent of financial institutions indicating increased IT security spending in 2014 was the highest percentage of the six markets surveyed, well above the global average of 50 per cent, it added.