Day: May 2, 2020

Asia’s stakeholder capitalism can help beat pandemic: Davos chief

TOKYO — The ability of Asian companies to balance the needs of both shareholders and stakeholders will help the region recover from the novel coronavirus pandemic, the founder of the World Economic Forum says.

Klaus Schwab, who established the WEF and hosts its renowned Davos annual meeting, has long promoted stakeholder theory. He believes that companies in their guise as “social organisms” are required to make contributions to society during the crisis, instead of aiming for “irresponsible” short-term profit to benefit their own shareholders.

“Asia may be philosophically more prepared for the stakeholder concept than the West, as the concept

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Will coronavirus spell the end of the traditional office working space?

Caution risks turning into aversion and companies cutting out the office, accelerating a pre-existing shift towards more flexible working to benefit family life. Germany is planning to bring in a right to work from home law, in a sign of a change of attitudes sweeping the globe.

“The notion of putting 7,000 people in a building may be a thing of the past,” said Jes Staley, the chief executive of Barclays, which has vast offices next to rivals in Canary Wharf, speaking last week after announcing the group’s financial results. “There will be a long-term adjustment in how we think

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Asia’s airlines navigate new safety norms after coronavirus

TOKYO/KUALA LUMPUR — When Philippine Airlines unveiled its new uniforms, the flag carrier was proud to point out that they were designed not only with the help of a fashion designer, but also medical experts.

The uniforms, introduced on April 14, incorporate personal protective gear and medically approved material to keep cabin crew safe, the company said.

Decorated with Philippine Airlines’ colorful flag logo, they are one of the flashier measures airlines have introduced to combat the coronavirus pandemic — and they are also a sign that Asia’s airlines are preparing for a long fight.

The uniforms are “part of

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Japan asks US for stable supply of remdesivir

TOKYO — Japan on Saturday began fast-track approval of remdesivir, Gilead Sciences’ antiviral drug intended to treat coronavirus patients, Nikkei has learned. It has also asked the U.S. to ensure Japan receives adequate supplies of the drug. 

The move follows emergency approval of remdesivir by the U.S. on Friday. Moves are underway to do the same in Japan, and to secure supplies from the U.S.

Remdesivir, originally developed as a treatment for Ebola by U.S. drugmaker Gilead, has gained global attention as a candidate treatment for people with severe COVID-19 symptoms.

Japan will launch expedited authorization procedures for the antiviral

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