CLDY Implements Managed Services: Cloud Hosting Catered To SMEs

Source: Media Outreach

SINGAPORE – Media OutReach – 6 December 2021 – CLDY is pleased to announce it has launched a variety of technologies for a better experience in cloud hosting. One of their latest email hosting solutions, the SureSend 1.0, helps analyse the best route for email delivery in the backend without any user intervention. The proprietary technology suite allows for emails to be delivered on time with a considerably better delivery rate than standard shared hosting accounts, without any worry of being unknowingly blacklisted from the client’s inbox.

Another solution, SpamShield, is being continuously developed over the years through CLDY’s experience in dealing with customers’ spam issues. It does not use old-fashioned technologies or manual methods. It also gives a 99% success rate in accurately clearing the spam to help save time and money for businesses.

Amid the rapid advancement of computer technology, CLDY aims to explore other hosting areas to provide the same high-quality cloud hosting services to ensure that businesses can quickly get on the cloud.

For instance, UltraScale v1.0 helps by computing resources consumed by a business and detecting if the resources need to be increased or refused. As part of VPS hosting, SecureMax v1.0 is an automated solution that ensures that no unauthorised user can access their confidential data.

Because hosting setups are technically complex, it also requires businesses to have access to technical skills to manage cloud hosting well so that it is convenient and high-performing. Moreover, the bill can also be a chore to monitor constantly.

By providing Intrusion Detection Systems (IDS), Content Delivery Networks (CDN), multiple-country Point of Presence (POP), and redundant and failover servers, CLDY takes care of this complicated aspect for the clients. While CLDY admits that it’s not going to be an easy journey, they will continue to provide the simplicity, security, speed, stability, and support needed to provide their clients with the best experience possible.

CLDY is a new-age, employee-led cloud hosting provider that provides various services through the industry’s best systems from around the world. It has a global reach, aimed to help businesses navigate and get onto the cloud server without the need for any prior technological knowledge. 

For more info and information on their range of web hosting services, do visit: https://www.cldy.com/sg/.

#CLDY
– Published and distributed with permission of Media-Outreach.com.

CLDY Implements Managed Services: Cloud Hosting Catered To SMEs

Source: Media Outreach

SINGAPORE – Media OutReach – 6 December 2021 – CLDY is pleased to announce it has launched a variety of technologies for a better experience in cloud hosting. One of their latest email hosting solutions, the SureSend 1.0, helps analyse the best route for email delivery in the backend without any user intervention. The proprietary technology suite allows for emails to be delivered on time with a considerably better delivery rate than standard shared hosting accounts, without any worry of being unknowingly blacklisted from the client’s inbox.

Another solution, SpamShield, is being continuously developed over the years through CLDY’s experience in dealing with customers’ spam issues. It does not use old-fashioned technologies or manual methods. It also gives a 99% success rate in accurately clearing the spam to help save time and money for businesses.

Amid the rapid advancement of computer technology, CLDY aims to explore other hosting areas to provide the same high-quality cloud hosting services to ensure that businesses can quickly get on the cloud.

For instance, UltraScale v1.0 helps by computing resources consumed by a business and detecting if the resources need to be increased or refused. As part of VPS hosting, SecureMax v1.0 is an automated solution that ensures that no unauthorised user can access their confidential data.

Because hosting setups are technically complex, it also requires businesses to have access to technical skills to manage cloud hosting well so that it is convenient and high-performing. Moreover, the bill can also be a chore to monitor constantly.

By providing Intrusion Detection Systems (IDS), Content Delivery Networks (CDN), multiple-country Point of Presence (POP), and redundant and failover servers, CLDY takes care of this complicated aspect for the clients. While CLDY admits that it’s not going to be an easy journey, they will continue to provide the simplicity, security, speed, stability, and support needed to provide their clients with the best experience possible.

CLDY is a new-age, employee-led cloud hosting provider that provides various services through the industry’s best systems from around the world. It has a global reach, aimed to help businesses navigate and get onto the cloud server without the need for any prior technological knowledge. 

For more info and information on their range of web hosting services, do visit: https://www.cldy.com/sg/.

#CLDY
– Published and distributed with permission of Media-Outreach.com.

Alibaba’s Toby Xu to succeed Maggie Wu as CFO

Source: Alibaba

Headline: Alibaba’s Toby Xu to succeed Maggie Wu as CFO

Alibaba Group said Toby Xu, Deputy Chief Financial Officer, will succeed Maggie Wu as the company’s Chief Financial Officer, effective April 1, part of the group’s leadership succession planning.

Wu will continue as a partner and serve as an executive director on the Alibaba board.

Since joining Alibaba almost fifteen years ago, Wu has helped lead three company public listings as CFO: Alibaba.com on the Hong Kong Stock Exchange in 2007, and Alibaba Group Holding on the New York Stock Exchange in 2014 and on the Hong Kong Stock Exchange in 2019.

“Maggie is forever calm and unflappable, regardless of ups and downs in the global capital markets and macro environment. She is humble and resilient, and has been my irreplaceable and closest partner over the years,” said Daniel Zhang, Chairman and CEO of Alibaba Group.

The announcement of Alibaba’s CFO transition is the culmination of extensive preparation over many years and a part of Alibaba’s leadership succession planning.

“We are focused on the long-term, and succession within our management team on every occasion is always in the service of ensuring Alibaba will be stronger and better positioned for the future,” said Zhang.

“We are in a relay race and we must have new generations of talent to take the company forward. I trust Toby even more than I trusted myself when I first took up the CFO position years ago,” said Wu.

We are in a relay race and we must have new generations of talent to take the company forward

– Maggie Wu   Chief Financial Officer of Alibaba Group

Xu joined Alibaba from PwC three years ago and was appointed Deputy Group CFO in July 2019. He took on increasing responsibilities that grew to include Alibaba’s strategic investments, in addition to financial management and operations.

“We are certain that Toby is the right person to serve as our new Group CFO and, together with the core management team, will help lead our team towards our next success,” said Zhang.

Xu joined Alibaba in July 2018 and was appointed Deputy Chief Financial Officer in July 2019. Before joining Alibaba Group, he was a partner at PricewaterhouseCoopers for 11 years, where he joined in 1996.

He serves as a director of Sun Art Retail Group, Lianhua Supermarket Holdings and Red Star Macalline Group. He graduated from Fudan University in Shanghai, China, with a bachelor’s degree in Physics in 1996. He is a member of the Chinese Institute of Certified Public Accountants.

“I am confident that Toby – through his professional capabilities and leadership skills, and together with Daniel and the core management team – will successfully lead our team into the future,” said Wu.

Vantage Data Centers Finalizes PCCW DC Acquisition to Bring its Best-in-Class, Hyperscale Data Center Platform to Hong Kong and Kuala Lumpur

Source: Media Outreach

Milestone follows announcement of Vantage’s entrance to Asia-Pacific region, including acquisition of Agile Data Centers

HONG KONG SAR – Media OutReach – 6 December 2021 – Vantage Data Centers, a leading global provider of hyperscale data center campuses, and its lead investor, Digital Bridge Group, Inc., announced today that they have completed the acquisition of PCCW Ltd.’s data center business (PCCW DC). The acquisition expands Vantage’s data center platform to include 100MW of existing and expansion capacity across multiple facilities in Hong Kong and Kuala Lumpur and is part of the company’s strategic expansion into Asia Pacific previously announced in September, which also included the acquisition of Agile Data Centers.

Vantage Data Centers’ 48MW data center in Tsuen Wan West, Hong Kong, currently under development.
Brian Groen joins Vantage as president, APAC from PCCW DC. Giles Proctor, who previously served as Vantage’s president, APAC is now chief operating officer of Vantage’s Asia-Pacific business. 
“The closing of this second acquisition is a critical piece to our rapid expansion in key Asia-Pacific markets,” said Sureel Choksi, president and CEO, Vantage Data Centers. “We now have a total of 23 campuses across five continents led by highly experienced regional teams, including Brian Groen and Giles Proctor. I’m excited for Brian and Giles to partner together in their new roles to lead our APAC business as we continue to expand and scale to meet the growing demand of customers globally.” 
This milestone enables Vantage to offer data center services in Hong Kong and Kuala Lumpur, two high growth markets in the APAC region. 
“Asia Pacific is a high growth region with hyperscale, cloud and enterprise companies who need a global digital infrastructure platform like ours on which to expand their businesses,” said Jon Mauck, senior managing director of DigitalBridge Investment Management. “Vantage is now in a position to quickly become a leading provider in these markets and offer a superior product with high reliability, fast speed to market and a commitment to sustainability.” 
Today, Vantage has an established and growing footprint in North America, EMEA and Asia Pacific. The company secured US$1.5 billion in incremental equity from an investor group led by DigitalBridge Investment Management, with participation from other existing Vantage investors, to accelerate its APAC expansion.
“Hong Kong and Kuala Lumpur are unparalleled connectivity hubs for companies doing business across Asia,” said Groen. “We have a strong sales pipeline with existing facilities and several greenfield developments underway to support our customers’ growing businesses. If you are a hyperscale company, a cloud provider or a large global enterprise, we can serve your needs in leading business centers throughout the region.” 
More information on Vantage’s global campuses can be found at https://vantage-dc.com/data-center-locations/. 
– Published and distributed with permission of Media-Outreach.com.

Get Into the Spirit of Giving with BearloonSG’s Unique Christmas Launch & Santa Delivery Service

Source: Media Outreach

SINGAPORE – Media OutReach – 6 December 2021 – It’s the most wonderful time of the year again! Shoppers on the hunt for unique Christmas gifts in Singapore can now look forward to BearloonSG’s latest selection of novelty gifts and hampers. This year, the leading retailer for contemporary gifts will also be launching a first-of-its-kind Santa Delivery Service for a memorable gift-giving experience.

Celebrate Christmas and experience the joy of giving with BearloonSG. Pick out a thoughtful, personalised gift for your friends and family from our selection of novelty gifts and hampers, and surprise them with our complimentary Santa Delivery Service. 

Spread the Festive Cheer With Unique, Personalised Gifts
Shoppers can expect to be spoilt for choice by the latest launch of BearloonSG’s unique Christmas-themed gifts. With a wide selection of hampers, novelty gifts and personalised helium balloons available, there is a gift for everyone at BearloonSG.

Shoppers looking to add an element of surprise to their Christmas gifts should not miss out on BearloonSG’s Christmas Gourmet Hampers. Adorned with a personalised hot air balloon and packed to the brim with festive goodies like chocolate and wine, any recipient will be delighted to receive these unique gift hampers.

BearloonSG’s Christmas Floral Gifts will be ideal for recipients with a penchant for flowers. Featuring their signature 3D Christmas-themed hot air balloon atop a gorgeous bed of fresh florals, the Christmas Hot Air Balloon will put anyone in a celebratory mood and makes the perfect gift to your loved ones this festive season.

Toast to a memorable Christmas with the Christmas Bloom Box, which comes in a thoughtful combination of fresh florals and wine. BearloonSG customers may opt for either Moët & Chandon champagne or Moscato wine.

For shoppers looking for wallet-friendly, personalised gifts for friends and family, BearloonSG’s Christmas Baubles will be a great option. What’s so unique about these baubles is that customers can choose what to include in each bauble from the following items: snacks, miniature perfumes and screen cleaners. Each bauble is also fully customisable with personalised text or the name of the intended recipient. Available in bundles, these Christmas Baubles are affordable choices for customers looking to bulk-purchase gifts for their colleagues or team.

Shoppers looking for a fuss-free yet eye-catching gift will not go wrong with BearloonSG’s personalised Christmas Helium Balloons. Available in a variety of festive shapes and colours, these balloons will liven up homes and create a joyful ambience for this Christmas season.
Amp up the Festive Joy With BearloonSG’s Santa Delivery Service
To provide customers with a truly unique gifting experience, BearloonSG will also be launching a one-of-its-kind Santa Delivery Service for its products. Between 13th to 25th December 2021, recipients can look forward to having their Bearloon SG Christmas gifts delivered to their doorstep by Santa Claus himself. Limited slots are available, so shoppers are encouraged to send in orders early to avoid disappointment.
 
BearloonSG’s Christmas hampers, novelty gifts and personalised helium balloons are available for purchase online. All gifts are fully customisable (additional charges may apply). Delivery is free for all orders islandwide, and same-day delivery is available for all orders placed before 2.30pm.

– Published and distributed with permission of Media-Outreach.com.

Google Korea’s volunteering spirit runs deep

Source: Google

I grew up in a challenging environment, but I always felt fortunate to be surrounded by people who would always lend a helping hand when I needed it. Even at the young age of 10, their actions motivated me to extend help to people I interact with and that brought me joy. Thanks to the generosity of the people around me, I was able to complete my studies and build a career. Someone once told me that the best way to repay kindness was to pay it forward, and I made it a part of who I am today.

Since joining Google seven years ago, I’ve seen how Google has built a vibrant volunteering culture. Every year, we see Googlers around the world come together to participate in community service projects through GoogleServe — our annual volunteering event. I’ve led GoogleServe in Korea several times, encouraging Googlers to dedicate their time to volunteering. It’s incredibly motivating to hear positive comments from Googlers who have volunteered for the first time — and to see them return the following year to do more for their community.

I also became the local ambassador for Google.org, our philanthropic arm, helping Googlers understand how we can make a bigger impact by connecting our corporate grants with donations and volunteering activities. I truly believe that when we’re able to get everyone involved in doing good, we’re able to be a keep volunteering an integral part of our culture.

As a Google.org ambassador, I had the opportunity to meet Jacquelline Fuller, President of Google.org while she was visiting the Seoul office

As we commemorate International Volunteer Day, I’d like to highlight other Googlers from our Korea office who share the same passion for giving back.

Narae Jeon

Site Administrative Business Partner

What was your most memorable experience through GoogleServe?

I decided to take care of abandoned dogs as part of my volunteering experience. A long time ago, a dog I’d been raising died in an accident, and I felt guilty for not responding in the right way. I started deepening my knowledge of topics like animal protection and breeding, and looked for opportunities to get involved in the community. I started volunteering with an animal protection center, where I helped rescue an abandoned dog that resembled the dog I had raised before — and made snacks for other abandoned dogs. I also created a Google group named ‘Doglers’ for Googlers looking to get involved with animal shelters, and ran a donation drive to raise awareness among Googlers.

Abandoned animal shelter in the Gyeonggi province where our ‘Doglers’ go to on a regular basis

I rescued the dog on the right in this photo from the highway.

What is one takeaway you’d like to share with others from your volunteering experience?

Take the first step. You can always start by going to a volunteering site and observing how others are helping the community. You’ll be surprised how being on-site can inspire you to take action. Once you experience giving back, you’ll realize what a rewarding experience volunteering can be.

Jaey Park

Strategy and Insights Manager, Korea

What was your most memorable experience through GoogleServe?

This year, I had the opportunity to mentor college students preparing for employment. I was able to share my experiences and knowledge in data analytics. We often think that we don’t have much insightful knowledge to pass onto others, but I was surprised that what I shared with these students was valuable. From this experience, I decided to continue volunteering in this space.

Group mentoring session with other Googlers as part of GoogleServe 2021

What is one takeaway you’d like to share with others from your volunteering experience?

Once you start volunteering, you’ll realize how you’re impacting not only others but yourself too. It helps you feel more connected, and it creates a sense of belonging and purpose. I truly believe when we come together to do good, we’re able to make a bigger contribution to the community we live in.

Alibaba Introduces More Agile Organizational Structure to Accelerate Domestic and International Growth

Source: Alibaba

Headline: Alibaba Introduces More Agile Organizational Structure to Accelerate Domestic and International Growth

Alibaba Group announced organizational changes and leadership appointments on Monday to better drive synergies across its consumer and wholesale commerce platforms both in China and globally, as the company continues to invest in its two strategic pillars of domestic consumption and globalization.

In a letter to employees, Alibaba Group Chairman and CEO Daniel Zhang outlined his strategy and leadership changes. The newly-formed International Digital Commerce will bring together Alibaba’s overseas consumer-facing and wholesale businesses under the leadership of Jiang Fan. In addition, Alibaba veteran Trudy Dai will lead the new China Digital Commerce that combines Alibaba’s China consumer-facing and wholesale marketplaces. 

“As we continue to build a multi-engine approach to drive future growth, a ‘diversified business governance’ will become Alibaba’s new organizational strategy as we look towards the future,” wrote Zhang in his letter. “We want to explore new business governance approaches to drive more innovation and creativity across our teams and businesses.” 

According to the letter, the new organizational announcement is Alibaba’s latest initiative to “empower [its] organization to become more agile” as the company looks ahead to the new year.

Sinagapore-headquartered Lazada delivers to consumers across Southeast Asia. Photo credit: Alibaba Group

Globalization Commitment

The newly-established International Digital Commerce will include AliExpress, Alibaba.com and Lazada, the central business units powering Alibaba’s globalization strategy. In its last quarterly earnings, the company announced its annual active consumers (AAC) overseas reached 285 million and reiterated its ambitious goal of serving 2 billion consumers globally.

“We will continue to focus on becoming a truly globalized company, and we believe that overseas markets present many exciting potential and opportunities for us to capture,” wrote Zhang in his letter. “We have confidence in our local teams, and we are charting a path forward with a holistic strategic blueprint and organizational stability for winning our overseas markets.”

Prior to his new role, Jiang Fan, who joined Alibaba in 2013, had been the President of Taobao and Tmall, leading two of Alibaba’s most successful consumer marketplaces in China. Under his leadership over the past seven years, Taobao and Tmall have transformed into a mobile-first commerce ecosystem with an innovative user experience, such as personalization and content-driven engagement. Before joining Alibaba, Jiang founded and served as CEO for leading mobile analytics solutions company Umeng. His track record as a mobile commerce entrepreneur and a proven driver of innovation will help the company achieve its ambitious goals globally. 

“Over the past seven years, Jiang Fan has made revolutionary contributions to Taobao and Tmall’s progressive mobile transformation, personalization and content-driven user experience,” wrote Zhang. “Under his leadership, we believe he can help the local teams pioneer more innovation in developing our overseas markets.” 

Powering Domestic Consumption

Similar to the international commerce integration, Alibaba also announced the combination of all domestic commerce businesses to foster more collaboration and synergy across business units to serve its consumers and customers better. The company appointed Alibaba veteran Trudy Dai to lead the new China Digital Commerce.

An Alibaba founding member and partner, Dai has served various leadership roles within the company over the years. She has strong expertise across the China consumption sector, a keen understanding of consumer needs and deep knowledge of the Alibaba ecosystem. Between 2014 and 2017, Dai was Alibaba’s Chief Customer Officer, and prior to that, led different business units and critical corporate functions. Since January 2017, she has served as president of Alibaba’s Industrial E-commerce, including Alibaba.com, 1688.com, AliExpress and Taobao Deals. In March 2021, she became president of Alibaba’s community marketplace Taocaicai. 

Under Dai’s leadership, Taocaicai and Taobao Deals have seen exponential growth, tapping into consumer demand from lower-tier cities. In the September Quarter of 2021, AACs on Taobao Deals grew to more than 240 million, while Taocaicai’s GMV saw an over 150% quarter-over-quarter increase.

“We believe Trudy’s deep experience and understanding of the China market, exceptional leadership skills and unique insights as a female leader will help drive Alibaba’s continued market leadership in the China consumption sector,” wrote Zhang.

3DOM, G8 Ink Agreement for Business Collaboration, Investment, and Share Swap

Source: Media Outreach

3DOM SG to be primary supplier of batteries and energy storage solutions for all of G8’s renewable energy projects
G8 to receive up to US$10 million in funding from 3DOM at US$200m valuation
3DOM SG to issue new shares representing 8% of its enlarged issued share capital in exchange for new shares representing 24% of G8’s enlarged issued share capital
Both companies to jointly explore opportunities for renewable power generation and electric mobility solutions

YOKOHAMA, JAPAN and SINGAPORE – Media OutReach – 6 December 2021 – 3DOM Inc. and G8 Subsea Pte. Ltd. (“G8”) today announced they have entered into a transaction agreement (the “Agreement”) for business collaboration, investment, and a share swap. In the business collaboration, 3DOM’s wholly-owned subsidiary 3DOM (Singapore) Pte. Ltd. (“3DOM SG”) will become the primary supplier of batteries and energy storage solutions for all of G8’s wind, solar, and hydro power projects. G8 will benefit from reliable, long-lasting batteries that enable more efficient and economical energy storage for renewable energy projects.

3DOM will invest up to US$10 million in G8, representing an aggregate stake of up to 5% in the company, which has an implied total valuation of US$200 million. In the share swap, 3DOM SG will issue new shares representing 8% of its enlarged issued share c

In addition to the supply of batteries, 3DOM SG will provide technology and systems for the monitoring of battery conditions, and appropriate allocation of first-life and second-life batteries for projects. Meanwhile, 3DOM SG and G8 will jointly explore new opportunities for renewable power generation, including those related to thermal power production using biomass-derived pellets, as well as further development of wind, solar, and hydro power generation businesses.

3DOM SG and G8 will also jointly explore opportunities related to electric mobility, including the implementation of a total-zero-carbon-emission model for commercial transport businesses, in which electric vehicles are provided by lease/subscription and charged with renewable energy. The goal is to reuse these vehicle batteries in stationary energy storage applications, establishing a circular system of first-life and second-life use that takes advantage of 3DOM batteries’ longevity.

“There is great synergy between 3DOM and G8,” says 3DOM SG Representative Director & CEO Shusuke Oguro. “We are very pleased for the chance to supply our advanced lithium-ion batteries for G8’s renewable energy storage applications in Singapore and across Asia. Moreover, 3DOM and G8 share a closely aligned vision for the future, so we are excited to leverage each other’s strengths and explore new opportunities for more environmentally-friendly power generation and transportation, made uniquely possible by this partnership.”

“We are truly excited about this technological and business collaboration with 3DOM. It enables our Group to offer world-leading solutions for clean energy storage with 3DOM’s breakthrough battery technology. G8 is now able to integrate 3DOM’s battery and fuel cell systems to offer complete and long-lasting energy storage solutions for our commercial and utility clients.” says G8 Founder & Managing Director Gerald Tan.

– Published and distributed with permission of Media-Outreach.com.

3DOM, G8 Ink Agreement for Business Collaboration, Investment, and Share Swap

Source: Media Outreach

3DOM SG to be primary supplier of batteries and energy storage solutions for all of G8’s renewable energy projects
G8 to receive up to US$10 million in funding from 3DOM at US$200m valuation
3DOM SG to issue new shares representing 8% of its enlarged issued share capital in exchange for new shares representing 24% of G8’s enlarged issued share capital
Both companies to jointly explore opportunities for renewable power generation and electric mobility solutions

YOKOHAMA, JAPAN and SINGAPORE – Media OutReach – 6 December 2021 – 3DOM Inc. and G8 Subsea Pte. Ltd. (“G8”) today announced they have entered into a transaction agreement (the “Agreement”) for business collaboration, investment, and a share swap. In the business collaboration, 3DOM’s wholly-owned subsidiary 3DOM (Singapore) Pte. Ltd. (“3DOM SG”) will become the primary supplier of batteries and energy storage solutions for all of G8’s wind, solar, and hydro power projects. G8 will benefit from reliable, long-lasting batteries that enable more efficient and economical energy storage for renewable energy projects.

3DOM will invest up to US$10 million in G8, representing an aggregate stake of up to 5% in the company, which has an implied total valuation of US$200 million. In the share swap, 3DOM SG will issue new shares representing 8% of its enlarged issued share c

In addition to the supply of batteries, 3DOM SG will provide technology and systems for the monitoring of battery conditions, and appropriate allocation of first-life and second-life batteries for projects. Meanwhile, 3DOM SG and G8 will jointly explore new opportunities for renewable power generation, including those related to thermal power production using biomass-derived pellets, as well as further development of wind, solar, and hydro power generation businesses.

3DOM SG and G8 will also jointly explore opportunities related to electric mobility, including the implementation of a total-zero-carbon-emission model for commercial transport businesses, in which electric vehicles are provided by lease/subscription and charged with renewable energy. The goal is to reuse these vehicle batteries in stationary energy storage applications, establishing a circular system of first-life and second-life use that takes advantage of 3DOM batteries’ longevity.

“There is great synergy between 3DOM and G8,” says 3DOM SG Representative Director & CEO Shusuke Oguro. “We are very pleased for the chance to supply our advanced lithium-ion batteries for G8’s renewable energy storage applications in Singapore and across Asia. Moreover, 3DOM and G8 share a closely aligned vision for the future, so we are excited to leverage each other’s strengths and explore new opportunities for more environmentally-friendly power generation and transportation, made uniquely possible by this partnership.”

“We are truly excited about this technological and business collaboration with 3DOM. It enables our Group to offer world-leading solutions for clean energy storage with 3DOM’s breakthrough battery technology. G8 is now able to integrate 3DOM’s battery and fuel cell systems to offer complete and long-lasting energy storage solutions for our commercial and utility clients.” says G8 Founder & Managing Director Gerald Tan.

– Published and distributed with permission of Media-Outreach.com.

COVID-19 Vaccines: A Shot in Arm for the Economy

Source: International Monetary Fund

COVID-19 Vaccines: A Shot in Arm for the Economy

Author/Editor:

Niels-Jakob H Hansen ; Rui C. Mano

Publication Date:

December 3, 2021

. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

We quantify the effect of vaccinations on economic activity in the United States using weekly county level data covering the period end-2020 to mid-2021. Causal effects are identified through instrumenting vaccination rates with county-level pharmacy density interacted with state-level vaccine allocations, and by including county and state-time fixed effects to control for unobserved factors. We find that vaccinations are a significant and substantial shot in the arm of the economy. Specifically, an increase of initiated vaccination rates of 1 percentage point increases weekly consumer spending by 0.6 percent and reduces weekly initial unemployment claims by 0.004 percentage points of the 2019 labor force. Vaccinations also increase workrelated mobility. Importantly, we find that the effects vary with county characteristics. Specifically, urban counties and counties with initially worse socioeconomic conditions and lower education levels exhibit larger effects of vaccinations. This way, vaccinations are also a fair shot in the arm for the economy, which highlights that equitable distribution of vaccines is important to reduce inequality. Our results are specific to the United States, but hold important lessons for the expected economic impact of vaccinations in other countries.

Series:

Working Paper No. 2021/281

Frequency:

regular

English

Publication Date:

December 3, 2021

ISBN/ISSN:

9781557753540/1018-5941

Stock No:

WPIEA2021281

Pages:

21