JP Morgan Asset Sees Opportunities in Japan Internet Sector

(Bloomberg) — JP Morgan Asset Management’s outperforming Japan equity fund sees growth opportunities in the information and communications sector as the country lags in adopting key tools like e-commerce and digital payment.


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The firm’s $6.6 billion Japan Equity Fund is up 39% so far this year, beating almost all of its peers, according to data compiled by Bloomberg. The Topix index rose 3.1% over the same period. The fund’s success has stemmed from its investments in stocks related to e-commerce and other areas that benefited from pandemic-induced demand, according to Alexander Treves, an investment specialist at the asset manager.

“Although people have an image of Japan as a high-tech society, the penetration rate of internet, e-commerce and digital payment is quite low compared to other countries,” Treves said. “We find lots of businesses in this place which aren’t cyclically attractive, but have multi-year growth prospects.”

chart: Japan Equity Fund return beats most peers

© Bloomberg

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Islamic Corporation for the development of the Private Sector (ICD) Launches the ICD Finnovation Award 2020

(MENAFN – African Press Organization) JEDDAH, Kingdom of Saudi Arabia, November 19, 2020/APO Group/ —

The Islamic Corporation for the development of the Private Sector (ICD) ([To enable links contact MENAFN] the private arm of the Islamic Development Bank Group (IsDBG), today launches the ‘ICD Finnovation Award 2020, to recognize, showcase and encourage financial institutions that provide an outstanding solution for the financial industry.

The COVID-19 pandemic has created an unprecedented scenario for individuals, households, businesses, and institutions globally. Partial solutions at play are new financial instruments and technology. This special initiative is therefore aimed at exploring more the role of technology and innovation in providing sustainable solutions to current challenges, including those posed by COVID-19.

‘Finnovation is an online platform, ‘ [To enable links contact MENAFN] which ICD utilizes to list and highlight successful innovations of Financial Institutions (FIs) and FinTech startups at a global level.

Mr. Ayman Sejiny,

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Paytm on India’s digital payments sector

SINGAPORE — Indian tech start-up Paytm is “super comfortable” with its position in an increasingly competitive payments sector in the country, a top executive at the company said Monday.

Paytm is an ubiquitous name in India’s digital payments sector. Millions of Indians use the service to pay for things including utility bills, groceries, recharging mobile connections or buying movie tickets. Paytm is also a fully licensed digital bank.

The service faces competition from the likes of Google Pay, Walmart’s PhonePe and most recently Facebook’s WhatsApp messaging service, which announced a feature allowing its users to send money through the app.

Paytm, PhonePe, Google Pay (Gpay) and Bhim UPI QR Codes (Standee) are Kept outside for Cashless payments at a medical store in Gurugram on the outskirts of New Delhi, India on 16 May 2020.

Nasir Kachroo | NurPhoto | Getty Images

“It’s no doubt that India is the last big

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Australian government warns of possible ransomware attacks on health sector

ACSC Australia

The Australian government has issued a security alert today urging local health sector organizations to check their cyber-security defenses, and especially their controls for detecting and stopping ransomware attacks.

The Australian Cyber Security Center said it “observed increased targeting activity against the Australian Health sector by actors using the SDBBot Remote Access Tool (RAT).”

While the ACSC has not provided any details about what the “targeting activity” means, the SDBBot RAT has been almost exclusively distributed by a cybercrime group known as TA505.

The group relies on massive email spam campaigns to target companies and infect workstations with malware. The group has been seen dropping various malware strains on infected systems, but since September 2019, TA505 has often deployed the SDBBot payload as a means to access infected hosts remotely.

“SDBBot is comprised of 3 components,” the ACSC explained. “An installer which establishes persistence, a loader which downloads additional components,

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