Standard Chartered’s Share Financing Plan Launched In Singapore
Submitted by Harish Dhawan on Wed, 09/19/2007 - 17:27.Singapore: Standard Chartered has brought out a share financing plan in Singapore, which will permit individuals to have a loan of up to 10 times their monthly salary
Offered in cooperation with Singapore stock brokerages Phillip Securities and Lim & Tan Securities, the Standard Chartered plan allows capitalists get financing at the same they purchase their shares.
In a statement, Standard Chartered bank said, “There are some 250,000 active share investors in Singapore, and the number is expected to grow as Singaporeans become increasingly financially savvy.”
Head of consumer banking for Standard Chartered in Singapore, Ajay Kanwal, said that the share-financing plan will be made available to other brokers in Singapore.
Singapore Airlines bans mile-high club
Submitted by Sahil Nagpal on Thu, 11/01/2007 - 15:57.London, Nov 1 : Singapore Airlines’ new Airbus A380 boasts of having the world's first airborne double beds, but the luxury comes with a warning for some randy couples – No sex please!
Many romantic couples’ hopes of joining the mile-high club were shattered by the airline after it announced that it would ask passengers to refrain from sex while travelling in one of its 12 first-class suites.
The warning comes after passengers discovered that the super jumbos' 12 private suites are not soundproof.
The airline said it doesn’t want the romping sessions to offend other travellers or crew anywhere within the plane.
Priceline.com acquires Agoda Company
Submitted by Sahil Nagpal on Mon, 11/12/2007 - 18:26.Norwalk/Bangkok, Nov 12: Priceline.com announced that it has acquired Bangkok and Singapore-based Agoda Company, an online travel company specializing in hotel discount bookings throughout Asia, in a transaction that includes an initial cash payment and a multi-year, performance-based earn-out.
Priceline.com said it intends to retain Agoda's current management team, who will continue to manage Agoda's operations independently as part of priceline.com's international business.
In the Asia Pacific region, Agoda offers hotel properties in Australia, China, Japan, India, Thailand, South Korea, Singapore, Indonesia, the Philippines, New Zealand and several other countries.
Singapore Airlines offers its passengers to get a taste of Singapore “free”
Submitted by Mohit Joshi on Sat, 11/17/2007 - 15:50.Singapore, Nov 17: To attract global passengers to Singapore, Singapore Airlines (SA) in association with the Singapore Tourism Board has announced ‘Your Uniquely Singapore Transit Adventure’.
According to SA, when a flight makes a quick stopover at Singapore’s Changi Airport, the airline has suggested to take a break from the four walls of the airport and hop onto a Free City Shuttle to savour a free meal at any one of the three stops (Little India, Suntec City Mall or Bugis) or indulge in some great retail therapy.
This offer is valid upto December 31, 2007
Bilcare Singapore raises $ 90 million through Convertible bonds
Submitted by Malini Ranade on Sat, 12/29/2007 - 13:47.

Bilcare Singapore, a wholly owned subsidiary of Bilcare Limited, has issued 4% convertible bonds, due in 2012, to raise $90 million, an official release said.
The bonds may be redeemed in whole at the option of the bondholder on the maturity date at a return price of 130.726% of the principal amount, plus accrued interest, as per the terms of the issue.
The Bonds may be converted to shares of Bilcare Singapore Pte Ltd at maturity or 90 days after the completion of a Qualified IPO. The bonds will be listed on Singapore Stock Exchange.
Zicom Electronic forms JV with CNA Group, Singapore
Submitted by Malini Ranade on Fri, 04/04/2008 - 04:10.
Zicom Electronic Security Systems Ltd announced that the company has formed a joint venture (JV) with CNA Group, Singapore, to offer integrated intelligent building management solutions and green buildings in India.
Zicom will acquire 51% stake and CNA Group will have 49% in the joint venture company named as Zicom CNA Automation.
The JV aims to leverage on the enormous growth potential of the booming real estate market in India by providing integrated facilities management solutions and services to residential, industrial commercial and Government construction.
"Incredible India" to depict India as a fast moving economy in Singapore
Submitted by Mohit Joshi on Fri, 04/04/2008 - 13:09.New Delhi, Apr 4:
A high powered delegation of political and business leaders, led by Union Commerce and Industries Minister Kamal Nath, will begin their four-day tour to Singapore from today as part of the Incredible! India@60 event.
Besides, Union Tourism Minister Ambika Soni and Confederation of Indian Industry (CII) President Sunil Mittal will also be present on the occasion.
The event is being organised jointly by the Government of India and the CII.
India@60 Singapore CEOs say India strong in knowledge, manufacturing, but weak in delivery
Submitted by Sahil Nagpal on Fri, 04/04/2008 - 16:39.Singapore, Apr. 4:
Panelists attending a session here on "India – the Knowledge Economy giant : Heading in the right direction" have unanimously opined that in India,"there is no dearth of ideas, but the delivery is weak in quantity and quality."
The comments were made in the second half of the business session at the Incredible India@60 campaign here.
The campaign is being jointly organized by the Government of India and the Confederation of Indian Industry (CII).
India keen to learn best practices from Singapore: Kamal Nath
Submitted by Sahil Nagpal on Fri, 04/04/2008 - 16:58.Singapore, Apr. 4:
India’s economic engagement with the world is expected to touch 550 billion dollars in 2007-08, announced the country's Commerce and Industry Minister Kamal Nath on Friday while addressing the opening session of the Incredible India@60 campaign here.
Stating that India is keen to learn and pick up the best practices from Singapore, Nath said that the city-state’s institutions, regulatory frameworks and strong services were a role model for India.
IOC president Jacques Rogge to receive update on YOG preparations
Submitted by Sahil Nagpal on Fri, 04/04/2008 - 19:34.Singapore - International Olympic Committee (IOC) President Jacques Rogge will receive an update on preparations for the first Youth Olympic Games (YOG) during his visit to Singapore, organizers said on Friday.
The three-day visit is Rogge's first since the city-state won the bid over Moscow to host the inaugural games in August 2010.
A signing ceremony for the host city contract will be witnessed Saturday by Singapore Prime Minister Lee Hsien Loong.
Lee will also host a dinner for Rogge and his delegation.
Clinching the YOG is a milestone for the city-state, which has never hosted a major Olympic event.
Government of Singapore purchases 5% stake in ICSA
Submitted by Sameer Kapoor on Sat, 04/05/2008 - 04:34.Hyderabad-based, ICSA (India) Limited, has informed that the Government of Singapore Investment Corporation, a financial services arm of the Singapore government, has picked up 5.02 per cent equity in the company.
Government of Singapore, which already held 1.49 percent stake in the company, raised its stake through purchase of 2.2 million shares from the secondary market.
With this, international financial institutions and non-resident Indians hold about 51.15 per cent of the equity of ICSA (India).
Lee Kuan Yew says guards were negligent in terrorist suspect escape
Submitted by Mohit Joshi on Sat, 04/05/2008 - 11:51.
Singapore - Complacent guards were negligent in the break-out of accused terrorist Mas Selamat Kastari after the suspect lulled them into believing they had him under control, Minister Mentor Lee Kuan Yew said in a published report on Saturday.
Mas Selamat, whom Lee called an "escape artist," has been at large for more than five weeks.
"When you are complacent in handling a wily detainee, then you have been negligent," Lee told The Straits Times.
India-Singapore ties set to expand: Singapore PM
Submitted by Mohit Joshi on Sat, 04/05/2008 - 15:27.Singapore, Apr. 5:
An India-Singapore Strategic Dialogue is to be instituted in a Track 2 diplomacy mode to examine new areas of bilateral cooperation and to exchange views, Singapore's Prime Minister Lee Hsien Loong said at a gala dinner here on Friday evening.
The dinner held to mark the first day of the Incredible India @ 60 campaign, saw Prime Minister Lee emphasising that India-Singapore relations are based on mutual respect and common interests.
Singapore welcomes meeting between US and North Korean envoys
Submitted by Mohit Joshi on Sat, 04/05/2008 - 16:38.Singapore -
Singapore welcomed on Saturday a meeting between US chief nuclear negotiator Christopher Hill and his North Korean counterpart in the city-state as part of negotiations to dismantle the communist country's atomic programme.
"Singapore hopes both sides will have a good discussion that will move the six-party talks forward, leading to the denuclearization of the Korean peninsula," the Foreign Ministry said in a statement.
Jacques Rogge says Beijing's air presents will not endanger Olympians
Submitted by Sahil Nagpal on Sat, 04/05/2008 - 18:21.Singapore - International Olympic Committee (IOC) President Jacques Rogge reassured students on Saturday that Beijing's air pollution presents no danger to the health of athletes competing in the August Olympics.
In-between updates on preparations for the first Youth Olympic Games (YOG) to be held in Singapore in August 2010, Roggue engaged in a question and answer session with students at Victoria Junior College.
"There is no danger" to the athlete's health from the air quality, Rogge said. But he added that the performance of some of the athletes may be "slightly reduced."
The statements echoed those made in an IOC report on Beijing air quality issued almost three weeks ago.
Beijing air presents no danger for Olympians
Submitted by Mohit Joshi on Sat, 04/05/2008 - 18:23.Singapore - International Olympic Committee (IOC) President Jacques Rogge reassured students on Saturday that Beijing's air pollution presents no danger to the health of athletes competing in the August Olympics.
In-between updates on preparations for the first Youth Olympic Games (YOG) to be held in Singapore in August 2010, Roggue engaged in a question and answer session with students at Victoria Junior College.
"There is no danger" to the athlete's health from the air quality, Rogge said. But he added that the performance of some of the athletes may be "slightly reduced."
The statements echoed those made in an IOC report on Beijing air quality issued almost three weeks ago.
Beijing air presents no danger for Olympians
Submitted by Mohit Joshi on Sat, 04/05/2008 - 20:17.
Singapore - International Olympic Committee (IOC) President Jacques Rogge reassured students on Saturday that Beijing's air pollution presents no danger to the health of athletes competing in the August Olympics.
In-between updates on preparations for the first Youth Olympic Games (YOG) to be held in Singapore in August 2010, Rogge engaged in a question and answer session with students at Victoria Junior College.
"There is no danger" to the athlete's health from the air quality, Rogge said. But he added that the performance of some of the athletes may be "slightly reduced."
Teen sex infections likely to hit new high in Singapore
Submitted by Mohit Joshi on Sun, 04/06/2008 - 13:32.Singapore - The number of sexually transmitted infections (STIs) among teenagers is forecast to hit a record high in Singapore this year with some having sex as early as 12, a published report said on Sunday.
The top two STIs are chlamydia for girls and gonorrhoea for boys, accounting for more than half of all STIs in teenagers.
The Department of STI Control estimated 800 to 815 cases last year from 776 in 2006 and 678 in 2005.
Figures published in The Sunday Times for the general population have stayed relatively constant at around 11,000 from 2004 to 2006.
Teenage STIs have been identified as a "pressing matter" by a Health Ministry committee.
US and North Korean envoys set for nuclear talks in Singapore
Submitted by Mohit Joshi on Mon, 04/07/2008 - 16:29.Singapore -
Negotiators for the United States and North Korea were set to meet Tuesday in Singapore, raising hopes of progress in stalled nuclear talks with even the venue seen as a positive sign.
Although the US State Department cautioned against expecting too much from the talks, a diplomatic source said Monday that the willingness of North Korea's top nuclear negotiator, Kim Kye Gwan, to come to the city-state was an optimistic development.
His US counterpart, Christopher Hill, expressed hopes for "some progress" in Singapore before departing for the city-state from East Timor.
Professor who stole students' underwear placed on probation
Submitted by Sahil Nagpal on Tue, 04/08/2008 - 11:15.Singapore - A professor who stole the bras and panties of three Singapore university students was placed on probation for 12 months by a community court judge, news reports said Tuesday.
Lee Wing Foon, who teaches in China, was also ordered to attend a special treatment programme for people with sexual disorders.
The 39-year-old Lee must see a psychiatrist regularly and cannot leave the city-state for more than a week without permission from his probation officer, The Strait Times said.
Lee admitted to stealing the underwear of three female students at the Nanyang Technological University. The students had left belongings on railings outside their hostel rooms.
Singapore, Chinese authorities endorse eco-city project
Submitted by Mohit Joshi on Wed, 04/09/2008 - 11:28.Singapore-
Singapore and Chinese authorities have endorsed a draft masterplan for a joint eco-city project in the northern China port city of Tianjin, news reports said Wednesday.
The masterplan, developed by a team that includes Singapore's Urban Redevelopment Authority, will guide land use and development.
It reflects the shared vision for a city that is "environmentally friendly, socially harmonious and economically sustainable," The Straits Times said.
Growth forecast in Asia office rentals
Submitted by Mohit Joshi on Wed, 04/09/2008 - 18:34.Singapore - Major office markets in Asia are forecast to see rental growth this year with the pace of growth varying from city to city, property analysts said on Wednesday.
Cushman & Wakefield said about half the cities checked, including Bangkok, Singapore, Beijing, Shanghai, Chengdu, New Delhi, Mumbai and Kuala Lumpur, are expected to see slowing rental growth.
In contrast, Hong Kong, Taipei, Bangalore, Seoul and Ho Chi Minh City are still seeing accelerating rental growths.
"Across the board, we still see positive demand for office markets across Asia," said Megan Walters, director of research at the firm.
Cable TV operator fined for commercial with lesbians kissing
Submitted by Sahil Nagpal on Wed, 04/09/2008 - 21:17.Singapore - Singapore's cable television operator has been fined for showing a commercial with romanticized scenes of lesbians kissing, the Media Development Authority (MDA) said on Wednesday.
StarHub Cable Vision was fined 10,000 Singapore dollars (7,200 US dollars) for airing the commercial last November, the MDA said in a statement on its website.
The commercial on MTV's Mandarin channel promoted a song by singer Olivia Yen, the media regulator said.
MDA said it was a breach of television advertising guidelines, "which disallow advertisements that condone homosexuality."
Singapore defines gay sex as an act of "gross indecency," punishable by a maximum of two years in jail.
Scientists discover lungless frog that breathes through skin
Submitted by Mohit Joshi on Thu, 04/10/2008 - 11:04.Singapore- Scientists have discovered a frog without lungs that breathes through its skin in a find making evolutionary history, a published report said Thursday.
The aquatic frog was found in August in two mountain rivers in Indonesia's Kalimantan, The Straits Times said. The frog is called "Barbie," short for its scientific name, Barbourula kalimantanensis.
The frog absorbs dissolved oxygen from the water through its skin, said evolutionary biologist David Bickford of the National University of Singapore, who found the frog with eight other researchers.
Singapore economy expands 7.2 per cent in first quarter
Submitted by Mohit Joshi on Thu, 04/10/2008 - 14:52.Singapore- Singapore's export-oriented economy expanded 7.2 per cent in real terms in the first quarter despite a slowdown in the United States and turmoil in financial markets, the Trade and Industry Ministry said Thursday.
The growth over the same quarter a year ago was faster than the 5.4-per-cent gain seen in the last quarter of 2007, thanks in part to a surge in drug manufacturing.
On a quarter-on-quarter seasonally adjusted basis, Singapore's gross domestic product (GDP) expanded 16.9 per cent after declining 4.8 per cent in the previous quarter, according to the ministry's preliminary estimates.
Singapore premier warns torch protests will have consequences
Submitted by Mohit Joshi on Fri, 04/11/2008 - 19:06.Singapore -
Singapore Prime Minister Lee Hsien Loong warned Friday that outrage among China's young over the Olympic torch relay protests would have consequences well beyond the Beijing Games.
Chinese anger could be read on the flooded internet bulletin boards carrying anti-foreign sentiments, Lee said at a conference organized by the London School of Economics.
The relay, which was China's "coming-out party," has also become the golden opportunity for China's critics to make their points, he said.
Singapore bank signs deal with Chinese bank card association
Submitted by Mohit Joshi on Sat, 04/12/2008 - 11:21.
Singapore - United Overseas Bank (UOB) has signed a deal with a Chinese bank card association that would allow more Chinese tourists to use their cards for purchases at merchants in Singapore, the bank said Saturday.
"This is a first for any Singapore-headquartered bank," it said in a statement.
China Unionpay (CUP), headquartered in Shanghai, has issued about 1.4 billion cards.
UOB said the move will increase the Chinese card's acceptance network in the city-state.
Three Malaysians jailed in Singapore for child trafficking
Submitted by Sahil Nagpal on Sat, 04/12/2008 - 11:28.Singapore- Three Malaysians were setenced to between four and 15 months in prison for child trafficking after they were caught trying to smuggle Sri Lankan children to London via Paris, news reports said on Saturday.
The Malaysians were caught at Changi Airport on February 7 with the three children, aged 11, 14 and 15.
Shangar Shanmugam, 39, was sentenced on Friday to 15 months in jail while his sister, Patmavthi Shanmugam, 31, was jailed for 10 months, The Straits Times reported.
Their friend, Vigiletchimi Suparayan, 61, was sentenced to four months in prison.
Singapore scientists find tea is good for brain
Submitted by Mohit Joshi on Sun, 04/13/2008 - 11:45.
Singapore- A cup of tea is good for the brain by slowing down cell degeneration and keeping the mind sharp into old age, a published report said on Sunday.
A four-year study by scientists in Singapore adds to tea's long- touted virtues.
Any type of tea will do, Professor Ng Tze Pin from the National University of Singapore's psychological medicine department told The Sunday Times.
"Tea is cheap, non-toxic and widely consumed," Ng was quoted as saying.
Singapore set to meet recycling goal
Submitted by Sahil Nagpal on Mon, 04/14/2008 - 10:56.Singapore- Singapore is set to meet its target of recycling 60 per cent of its rubbish by 2012, environmental officials said in a published report Monday.
Nearly 54 per cent of the 5.6 million tons of rubbish generated in 2007 was recycled, up from 40 per cent seven years ago, according to the National Environment Agency (NEA).
Some people are still putting rubbish that cannot be recycled into recycling bins, said the NEA in The Straits Times report. These items, such as food packaging requiring considerable effort to clean, made up 10 to 20 per cent of what was found in such bins.
To raise awareness, the NEA has invited young artists to paint recycling bins and is hosting an eco-concert on Saturday. (dpa)
Youth indulging in binge drinking face disastrous consequences
Submitted by Sahil Nagpal on Mon, 04/14/2008 - 11:08.Singapore - Youth indulging in long-term binge drinking face disastrous consequences such as nerve and motor problems including poor memory or trembling, experts warned in a report Monday.
Those who think it is not wrong to go on binge drinking sprees "are indicative of stages of denial," The Straits Times quoted psychologist Daniel Koh as saying. "When intoxicated, reasoning power is over-ridden."
Over four nights, the newspaper spotted 23 drunk youths, mostly under 25, sprawled outside six Singapore nightclubs. Binge drinkers vomit, then go back inside clubs to party and continue drinking.
Young drinkers often indulge in alcohol for such reasons such as peer pressure, escapism or as a show of power, Koh said.
Asia-Pacific private equity deals up in first quarter
Submitted by Mohit Joshi on Mon, 04/14/2008 - 13:42.Singapore - The Asia-Pacific region received a larger number of private equity investments in the first quarter of this year, but the value of the deals has dropped, figures from Thomson Financial said on Monday.
Excluding Japan, 195 private equity investments were made in the region bringing in more than 1.67 billion dollars. The corresponding quarter a year ago saw 183 private equity deals with a value of 2.64 billion dollars.
Large deals tend to be leveraged buyouts, which creditors are cautious about in the credit market turmoil.
China led the pack in attracting 571 million dollars in private equity funding in the first quarter. India emerged a close second with 507 million dollars, Thomson Financial said.
Singapore stocks slide
Submitted by Sahil Nagpal on Mon, 04/14/2008 - 18:35.Singapore - Stocks on the Singapore Exchange slid 2.6 per cent on Monday following Wall Street's slump on Friday amid fears of a recession.
The benchmark Straits Times Index fell 83.91 points to 3,042.96.
Disappointing earnings from US companies and weak consumer data, which showed consumer sentiment at a 26-year-old, have heightened fears of a recession in the world's biggest economy, analysts said. (dpa)
Singapore video games to carry ratings indicting violence, nudity
Submitted by Sahil Nagpal on Mon, 04/14/2008 - 21:09.
Singapore - Video games will carry ratings starting April 28 to help consumers and parents in particular make informed choices about what children play, Singapore's Board of Film Censors (BFC) said on Monday.
The games will carry rating stickers saying "Mature 18" or "Age Advisory."
Mature 18 (M18) is a restricted category for those 18 and older with retailers required to conduct an age check at the point of sales, said the BFC which functions under the Media Development Authority.
China, India, South-East Asia seen as M&A favourites
Submitted by Sahil Nagpal on Tue, 04/15/2008 - 10:45.Singapore - China, India and South-East Asia are seen as the hottest and riskiest markets for mergers and acquisitions (M&A) in the near future, a survey found Tuesday.
The survey, commissioned by Marsh, Mercer and Kroll, comes despite questionable business practices, problems with local intellectual property regimes and insufficient financial recourse against sellers, said the report.
The findings published in The Business Times found that 57 per cent of the 670 respondents ranked China, India and South-East Asia as most attractive over the next 18 months, followed by North America at 43 per cent, Western Europe at 41 per cent and Eastern Europe at 31 per cent.
ASEAN urged to cut tariffs, unify markets
Submitted by Sahil Nagpal on Tue, 04/15/2008 - 11:23.Singapore -
The Association of South-East Asian Nations (ASEAN) must do much more to achieve a free flow of goods, services and investments, the ambassador-at-large for Singapore's Foreign Affairs Ministry's said in a published report Tuesday.
One of ASEAN's greatest challenges is to "move fast enough and compete against China and India," The Straits Times quoted Professor Tommy Koh as saying.
Expressing the hope that the region would achieve rapid yet equitable growth, Koh cited ASEAN's "deplorable record" of implementing agreements.
Four finalists emerge in search for Singapore's Happiest Person
Submitted by Mohit Joshi on Tue, 04/15/2008 - 13:49.
Singapore - The search for Singapore's Happiest Person has been narrowed down to four people including a training consultant, a hospital porter, a record searcher and an engineer, organizers said on Tuesday.
With residents of the city-state faring poorly in rankings indicating happiness amid the high-stress environment, the Global Leadership Academy kicked off the campaign in March as part of its well-being conference to be held this month.
Investor sentiment dives in Asia-Pacific
Submitted by Mohit Joshi on Wed, 04/16/2008 - 11:47.
Singapore - Investor sentiment took a dive in the Asia- Pacific region during the first quarter of the year, with Japanese the least optimistic followed by investors in Taiwan and Singapore, a survey said Wednesday.
Banking group ING Asia-Pacific said that the findings reinforce the reality that the region is not insulated from global market uncertainties.
The sub-prime crisis and credit crunch remain key areas of concern in this part of the world, said the survey of investor beliefs and outlook in 13 markets.
Couple charged with portraying Muhammad negatively
Submitted by Sahil Nagpal on Wed, 04/16/2008 - 11:49.Singapore - A couple has been charged in Singapore with distributing an evangelistic publication portraying the prophet Muhammad in a negative light, news reports said Wednesday.
Ong Kian Cheong, 49, and Dorothy Chan Hien Leng, 44, are alleged to have distributed the publication on March 6, 2007, and again on October 19, The Straits Times said.
Ong works in a telecommunications company, and his wife is a bank employee.
The court on Tuesday scheduled the case for April 29. Details regarding the contents of the publication were not revealed.
The maximum penalty is a fine of up to 5,000 Singapore dollars (3,649 US dollars) and or a jail term of up to 12 months.
Teen sentenced to jail indefinitely for killing lover's husband
Submitted by Sahil Nagpal on Wed, 04/16/2008 - 12:02.
Singapore - A teenage boy who killed his lover's husband was sentenced to indefinite detention until Singapore's president agrees to his release, news reports said Wednesday.
Muhammad Nasir Abdul Aziz repeatedly stabbed Manap Sarlip, 29, in May 2007 outside the couple's flat.
The wife, Aniza Essa, 25, was sentenced last week to nine years in prison for instigating the teenager.
Murder carries a mandatory penalty of death by hanging in the city-state for those above the age of 18. For younger defendants, cases are reviewed every four years.
Singapore deploys tanker aircraft to the Gulf
Submitted by Sahil Nagpal on Wed, 04/16/2008 - 14:04.Singapore -
A Singapore Air Force tanker aircraft was deployed to the Gulf on Wednesday to support the multinational reconstruction efforts in Iraq and Afghanistan, the government said.
Major-General Ng Chee Khern officiated at the send-off ceremony at Changi Air Base.
The 36-man KC-135 detachment "will conduct air-to-air refueling missions in support of the coalition forces during its three months deployment," an air force statement said.
The air force has made four deployments of KC-135 tanker aircraft, four deployments of landing ships and one of a C-130 transit aircraft to the Gulf since 2003.
Joint venture to set up medical spa centres in India
Submitted by Mohit Joshi on Wed, 04/16/2008 - 16:31.Singapore - Pacific Healthcare Holdings is expanding its presence in India via a joint venture that will invest 10 million Singapore dollars (7.2 million US dollars) in the healthcare sector over the next three years, executives said on Wednesday.
The Birla-Pacific MedSpa will be 50 per cent owned by India's Yash Birla's Group, 42.5 per cent held by Pacific Healthcare and 7.5 per cent by a dermatologist based in India.
The tie-up plans to set up four medical spa centres and a wellness resort. Two of the centres will be in Mumbai and open this year. The resort, featuring about 20 villas, will be in southern Goa.
The locations for two other centres have yet to be decided.
Studies criticized for underplaying risks from climate change
Submitted by Mohit Joshi on Thu, 04/17/2008 - 10:47.Singapore - Studies are underestimated the risks to businesses by climate change while emphasizing the opportunities, a consultancy report said Thursday.
"This focus on opportunity over risk is striking in the light of growing consensus on the significant macroeconomic costs of climate change," said KPMG after analyzing 50 previously published reports.
Regulatory risks were the most commonly mentioned, but few studies considered the reputational and litigation risks, said the KPMG findings published in The Business Times.
Risks by sector were "omnipresent and underestimated," the report said, noting that nearly all sectors were exposed to a high or medium level risk from climate change.
Student fined for smuggling puppy to Singapore from Malaysia
Submitted by Mohit Joshi on Thu, 04/17/2008 - 10:52.Singapore - A student was fined 10,000 Singapore dollars (7,300 US dollars) for smuggling a two-month-old puppy from Malaysia to Singapore, news reports said on Thursday.
Liu Liangwu, 21, was fined the maximum amount for importing an animal without a licence.
Liu, who had no previous criminal record, is only the third person since 2001 to be prosecuted for animal smuggling. He escaped a jail sentence.
A customs officer was checking Liu's car on December 24 when he felt something furry hidden in a closed compartment under the driver's seat, a district court heard on Wednesday.
Woman charged with abusing Indonesian maid
Submitted by Sahil Nagpal on Thu, 04/17/2008 - 11:04.Singapore - A Singaporean woman was charged with repeatedly punching her Indonesian maid, whacking her with a wooden spatula and kicking the woman in the mouth, news reports said on Thursday.
Housewife Chan Geok Joo, 39, faces 10 counts of maid abuse.
She was accused of having committed the offences against Sri Utami, in her 20s, at home on three separate days in 2006, The Straits Times said.
The case was scheduled for next Wednesday.
Any employer who voluntarily causes hurt to a domestic helper can be jailed for up to 18 months and fined up to 1,500 Singapore dollars (1,094 US dollars) on each charge. (dpa)
Studies criticized for underplaying risks from
Submitted by Mohit Joshi on Thu, 04/17/2008 - 13:21.Singapore - Studies are underestimating the risks to businesses by climate change while emphasizing the opportunities, a consultancy report said Thursday.
"This focus on opportunity over risk is striking in the light of growing consensus on the significant macroeconomic costs of climate change," said KPMG after analyzing 50 previously published reports.
Regulatory risks were the most commonly mentioned, but few studies considered the reputational and litigation risks, said the KPMG findings published in The Business Times.
Risks by sector were "omnipresent and underestimated," the report said, noting that nearly all sectors were exposed to a high or medium level risk from climate change.
Singapore police fed up with hoax calls to hotline
Submitted by Sahil Nagpal on Thu, 04/17/2008 - 14:12.Singapore - Fed up with hoax calls to the 999 hotline, police in Singapore are putting up posters in English, Chinese, Malay and Tamil warning against the offence, officials said on Thursday.
Prank calls number about two every minute in Singapore.
Those who call emergency numbers intending to harass can face up to a year's jail or a fine, or both, police said.
Nearly 1.05 million of the 1.62 million calls made to police last year were hoaxes. Based on 2005 figures, one in five of such calls were made by children.
The posters, to be put up in primary schools and preschools and displayed at events, depict designs warning against prank calls such as a friend warning a boy who is dialing the hotline.
Engineer dubbed "Singapore's Happiest Person"
Submitted by Mohit Joshi on Thu, 04/17/2008 - 19:46.
Singapore - A 35-year-old engineer was proclaimed "Singapore's Happiest Person" on Thursday for his unwavering cheer and ability to inspire similar sentiments in others.
Andy Goh, nominated by his colleagues, emerged the winner of a search that started last month to find the happiest Singaporean in the stressed-out city-state.
A poll by Grey Group, an advertising firm, found that nine out ten people living in South-East Asia's most affluent economy acknowledged being stressed.
Italian liquor importer charged with tax evasion
Submitted by Sahil Nagpal on Fri, 04/18/2008 - 11:12.Singapore - The Italian head of a liquor distribution company was charged in court with evading nearly 800,000 Singapore dollars (588,000 US dollars) in taxes and duties, news reports said on Friday.
Giorgio Ferrari, 39, the managing director of the firm bearing his name, was said to have told authorities that 65,000 bottles were bound for diplomatic missions, which are exempt from tariff under customs and tax laws.
The charges allege the alcohol ended up going to other customers in the city-state, The Straits Times said.
The offences allegedly took place between January 9 and October 23 last year.
Singaporeans don't attach much importance to EU ties
Submitted by Sahil Nagpal on Sat, 04/19/2008 - 10:54.Singapore - The average Singaporean does not attach much importance to ties with the European Union even though the EU is the city-state's second-largest trading partner following Malaysia, a published survey said on Saturday.
The group of 27 European countries is viewed mainly as an economic bloc and less as a political power.
The findings reported in The Straits Times are included in a new book on the EU's image by the Asia-Europe Foundation and the National University of Singapore's European studies programme.
The 400 Singaporeans surveyed ranked the EU sixth on a list of important partners, behind China, the United States, Asia, Japan and India.
Saga of accused terrorist's escape to be revealed Monday
Submitted by Sahil Nagpal on Sat, 04/19/2008 - 12:51.
Singapore - The mystery over how an accused terrorist with a limp managed to escape from a tightly-secured detention centre in Singapore will be revealed on Monday seven weeks after Mas Selamat sparked the biggest manhunt in the country's history.
Deputy Prime Minister Wong Kan Seng is scheduled to deliver a statement in parliament disclosing the findings of an inquiry committee amid public criticism and ridicule on the internet about how the suspected leader of the city-state's wing of the Jemaah Islamiah (JI) militant group managed to get away.
The committee, chaired by former High Court judge Goh Joon Seng, was formed last month to investigate.
Singapore Firm To Pick Up 73.27% Stake In Dabur Pharma
Submitted by Shilpa Mahapatre on Sun, 04/20/2008 - 12:24.Home-grown drug manufacturer Dabur Pharma has declared that the
promoters and certain other stockholders of the company have signed up share purchase deal with Singapore-based Fresenius Kabi Pte Ltd, which is a 100% subsidiary of the $12-billion healthcare major Fresenius SE.
In conformance to the deal Fresenius will acquire about 73.27% of the company’s overall issued plus paid-up equity share capital at Rs 76.50 per equity share.
The deal, subject to necessary regulatory approvals, values Dabur Pharma at Rs 1198.75 crore.
Whining preferable to taking action in Singapore
Submitted by Mohit Joshi on Mon, 04/21/2008 - 11:05.Singapore - Dissatisfied customers in Singapore prefer to whine and gripe rather than lodge formal complaints to seek redress, a published survey said Monday.
In the first wide-ranging survey of customer satisfaction, only 6 per cent of the 12,000 people polled said that they opt for action.
The "talk only, no action" preference contrasts with consumers elsewhere, The Straits Times said, citing a similar poll in the United States that found 14 per cent of Americans would file a complaint about poor treatment.
The Customer Satisfaction Index noted that 17 per cent of those queried in the city-state were tourists.
Con man swindled 50 elderly women out of jewellery
Submitted by Sahil Nagpal on Mon, 04/21/2008 - 11:09.
Singapore - A sweet-talking swindler who conned 50 elderly women into giving him their jewellery has been arrested, news reports said.
The 53-year-old was reported to have collected more than 50,000 Singapore dollars (36,764 US dollars).
He would approach his victims and claim to have been a former neighbour, The Straits Times said. He would then persuade the women to part with their valuables by promising to exchange them for ones of more value.
The women never saw him or their baubles again.
The Singaporean, whose name was not released, was trying the same trick when he was stopped by police.
Illegal trade in ozone-depleting substances rises in Asia-Pacific
Submitted by Sahil Nagpal on Mon, 04/21/2008 - 13:14.Singapore - Illegal trans-boundary trade in ozone-depleting chemicals has increased dramatically in the Asia-Pacific region, said a study released by the UN Environment Programme (UNEP) on Monday.
The scourge of illegal ozone-depleting substances (ODS) has developed into one of the major obstacles in achieving their "timely and efficient phase-out" said the report, noting that the Earth's ozone layer remains "fragile and under threat."
Singapore investors expect global financial crisis and recession
Submitted by Sahil Nagpal on Mon, 04/21/2008 - 14:49.
Singapore - The spread of the financial contagion beyond the United States has increased the likelihood of a global financial crisis and recession, the executive director of Singapore's sovereign wealth fund warned on Monday.
"We could be facing a recession which is longer, deeper and wider than any recession that we have encountered in the last 30 years," said Tony Tan at a staff conference of the Government Investment Corporation (GIC), which bought substantial stakes in troubled UBS in December and Citicorp in January.
Accused terrorist escaped detention through ventilation window
Submitted by Mohit Joshi on Mon, 04/21/2008 - 18:22.Singapore - An accused Islamic terrorist escaped from a top-security detention centre in Singapore via an improperly secured ventilation window in a bathroom, Deputy Prime Minister Wong Kan Seng said Monday.
Although Mas Selamat was escorted by two Gurkhas and an Internal Security Department junior officer, he managed to climb out of the window during the 11 minutes that elapsed between a trip to the toilet and the issuing of an alert, Wong told Singapore's Parliament.
His family was waiting for a visit in another room.
South-East Asia's wealth management growth booming
Submitted by Mohit Joshi on Tue, 04/22/2008 - 10:51.Singapore - South-East Asia is seen as second only to China in growth potential for the wealth management field, a published survey said Tuesday.
Market volatility in the United States and Europe has done little to dent confidence in the industry, said the survey of wealth managers by Barclays Capital.
Asia's wealth management growth is not expected to slow over the next two years, according to the findings in The Straits Times.
South-East Asia is expected to see wealth management revenue growth of more than 15 per cent in the next two years, said
68 per cent of the respondents.
Business urged to speed up solutions to greener corporate practices
Submitted by Sahil Nagpal on Tue, 04/22/2008 - 13:22.Singapore - Business leaders were urged on Tuesday to speed up practical and creative solutions to greener corporate practices that make sense environmentally and are a source of competitive advantage.
"Ways and means need to be found to mobilize and focus the trillions of dollars in the world's financial and capital markets on the greening of the global economy," said Achim Steiner, UN Under-Secretary General and executive director of the UN Environment Programme (UNEP).
India, Singapore ink agreement to strengthen bilateral ties
Submitted by Sahil Nagpal on Wed, 04/23/2008 - 15:46.
New Delhi, Apr 23 : India and Singapore have signed a pact here to enhance their bilateral ties.
The agreement was signed between External Affairs Minister Pranab Mukherjee and his Singapore counterpart George Yeo on the sidelines of the India-Singapore Joint Ministerial Committee (JMC), that was set up in 2007.
Computer makers on bull run in Asia
Submitted by Sahil Nagpal on Thu, 04/24/2008 - 11:07.Singapore -
Computer makers are experiencing a bull run in Asia with PC sales climbing 19 per cent in the first quarter of the year, research firm IDC said Thursday.
Computer shipments in the Asia-Pacific region excluding Japan soared to 17 million units in the first three months, helped largely by strong notebook purchases.
Nearly all Asian countries posted double-digit growth rates in the portable PC segment compared with the fourth quarter of 2007, said the IDC data reported in The Business Times, exceeding forecasts in China and many South-East Asian countries.
Visitors to Singapore reach record for March
Submitted by Mohit Joshi on Thu, 04/24/2008 - 14:53.
Singapore - Singapore welcomed 908,000 visitors in March, setting a new record for the month and 5.7 per cent growth over the corresponding month a year ago, the Tourism Board said on Thursday.
Indonesia remained the top visitor-generating country with 155,000 people coming to the city-state. China followed with 98,000, Australia 62,000, the United Kingdom 61,000 and India 58,000, rounding out the top five.
"These markets accounted for 48 per cent of total visitor arrivals for the month," the board's statement said.
India-Singapore ministerial meeting viewed as "important milestone"
Submitted by Sahil Nagpal on Thu, 04/24/2008 - 20:56.Singapore - The first meeting of the India-Singapore Joint Ministerial Committee (JMC) marked an "important milestone" in relations between the two countries, Singapore's foreign ministry said on Thursday.
Indian Minister of External Affairs Pranab Mukherjee and his Singapore counterpart George Yeo took stock of the growing linkages and rapid expansion of trade, investment and defense, a ministry statement said.
The ministers also discussed future cooperation in education and culture. They "agreed to explore future cultural initiatives such as India's historical links to Singapore," the statement said.
Singapore welcomes China offer of dialogue with Dalai Lama
Submitted by Mohit Joshi on Sat, 04/26/2008 - 00:09.
Singapore - Singapore welcomed on Friday China's offer to begin consultations with representatives of the Dalai Lama, saying a long-term solution is in the interest of the "entire region."
"No one, least of all the Tibetan people, gains from the continuation of the tensions and protests and the attempts to link the Tibetan issue with the Beijing Olympic Games," a Singaporean Ministry of Foreign Affairs spokesman said in a statement.
Cancer survivor dies after being stuck by taxi
Submitted by Sahil Nagpal on Sun, 04/27/2008 - 10:49.Singapore - A woman who survived breast cancer died after being knocked down by a taxi, leaving her husband so distraught he tried to end his life, news reports said Sunday.
Immediately after the accident, Chan Yoke Chan's husband hit his head against the Singapore road for more than 20 minutes, and tried to bite off his tongue and stab himself with his keys, The Sunday Times reported.
Chan Gee Kan, 65, was finally strapped to a stretcher-wheelchair on Saturday by paramedics.
The 61-year-old woman was a member of Paddlers in the Pink, a dragon-boat team of breast-cancer survivors. She had just finished training at a reservoir and was crossing a street when she was struck by the taxi, the report said.
Higher pay has maids choosing Taiwan, Hong Kong over Singapore
Submitted by Sahil Nagpal on Mon, 04/28/2008 - 11:11.Singapore -
Fewer foreign maids are choosing to work in Singapore, with those from the Philippines and Indonesia now preferring Taiwan and Hong Kong, a survey said Monday.
The 20 maid agencies surveyed by The Straits Times said that the higher pay and a compulsory weekly day off are key factors.
Singapore's mandatory English entry test on hygiene and housework, as well as a minimum age of 23, are also turning some away as the competition for maids intensifies.
Indonesian and Sri Lankan maids are paid 280 Singapore dollars (190 US dollars) a month, and those from the Philippines up to 350 Singapore dollars (244 US dollars).
Myanmar nationals have three-day extension to vote on constitution
Submitted by Mohit Joshi on Tue, 04/29/2008 - 10:59.
Singapore - Myanmar nationals living in Singapore have until Friday to vote on their country's draft constitution drawn up by the military regime, a notice at the embassy said.
Voting started Friday and was originally scheduled to end Tuesday. The notice of the three-day extension was posted on the embassy gates.
Nearly 2,000 people showed up to vote Sunday, many wearing red T- shirts and baseball caps emblazoned with "No." Fewer than 100 got to vote.
The embassy refused to allow anyone wearing the shirts or caps inside.
More Asian companies expected to tap IPO market
Submitted by Mohit Joshi on Tue, 04/29/2008 - 11:24.Singapore - More than 2,900 Asian companies have raised nearly 500 billion US dollars in equity through initial public offerings since 1990, and the region's IPO market is expected to keep up its rapid growth, a Citigroup report said Tuesday.
It cited a shift toward professional investment management of household savings, driving demand for share investments and the introduction of innovative listing vehicles such as property, business and infrastructure trusts.
The rapid economic growth of many Asian economies has prompted companies to raise money for expansion, and more families are seeking to cash in on the value of their businesses, Citigroup analysts said in the report.
Singapore to require electronic invoices from suppliers
Submitted by Mohit Joshi on Wed, 04/30/2008 - 13:21.Singapore - Suppliers of goods and services billing the government of Singapore will need to submit their invoices electronically starting May 1 as part of a plan seeking to extend the reach and quality of e-services, the Ministry of Finance said.
The system enabling suppliers to submit their invoices to ministries and statutory boards via a common online portal will "enhance the efficiency" of transactions, a ministry statement said on Wednesday.
Citing the benefits, the ministry said, "Suppliers can expect prompt payment in accordance with agreed? terms."
"E-Invoicing eliminates the risk of misplacement of hardcopy invoices," it noted.
Prime minister confident in Singapore's ability to deal with economic
Submitted by Mohit Joshi on Thu, 05/01/2008 - 10:49.Singapore -
Prime Minister Lee Hsien Loong expressed confidence Thursday in Singapore's ability to cope amid the uncertain global economic outlook but warned that "dark storm clouds have gathered."
In his annual May Day message, Lee cited the sub-prime mortgage crisis in the United States. "We must watch closely how the situation in the US unfolds, and be ready to respond if things take a turn for the worse," he said.
Centre opens to focus on non-traditional security issues
Submitted by Sahil Nagpal on Thu, 05/01/2008 - 11:02.Singapore - The rice shortage and climate change have prompted the establishment of a research centre aimed at non- traditional security issues in Asia, organizers said on Thursday.
The Centre for Non-Traditional Security will open Tuesday in Singapore at the S Rajaratnam School of International Studies.
"Over the last five years, many non-traditional security issues have hit the headlines in Asia," The Straits Times quoted dean Barry Desker as saying.
They include global pandemics, illegal migration and terrorist links to the illegal drug trade.
Singapore welcomes confirmation of US ambassador for ASEAN affairs
Submitted by Sahil Nagpal on Thu, 05/01/2008 - 14:02.
Singapore - Singapore welcomed Thursday the US Senate's confirmation of career foreign service officer Scot Marciel as its first ambassador for ASEAN affairs.
"The US is the first dialogue partner of the Association of South-East Asian Nations (ASEAN) to appoint an ambassador" to the 10-nation grouping, said the Ministry of Foreign Affairs. Singapore currently holds the ASEAN chairmanship.
"This reflects the strength of the ASEAN-US relationship and the commitment of the US to continue its engagement with ASEAN," the ministry's statement said.
Singapore to get environmentally kinder German-engineered buses
Submitted by Mohit Joshi on Thu, 05/01/2008 - 18:10.
Singapore - Singapore is to become the first country in South-East Asia to obtain German-engineered buses designed to be kind to the environment and accessible to disabled passengers, a public transport firm said Thursday.
The first of the Mercedes-Benz buses is to hit the road in mid-May and another 66 are to be rolled out between August and December, the SMRT Corp said.
Spiders found to court females with ultraviolet rays
Submitted by Mohit Joshi on Fri, 05/02/2008 - 12:24.
Singapore - Ultraviolet rays have been found to be essential for a spider courting females, a published report said Friday.
National University of Singapore (NUS) Associate Professor Li Daiqin said that the rays, invisible to the human eye, are very much visible to the eight-legged arachnids in courtship rituals.
He has proven that a particular type of light, ultraviolet B (UVB), is used in communicating, The Straits Times said.
Female jumping spiders spent twice the amount of time ogling males with UVB-reflecting markings on their body, compared to those where the light wave had been filtered out.
Net 4 India arm gets SBO license in Singapore
Submitted by Shilpa Mahapatre on Sat, 05/03/2008 - 04:06.
Internet Service Provider, Net 4 India Ltd has announced that its subsidiary based in Singapore has received a Service Based Operator (SBO) license in Singapore.
Through this license, the company will have the full right to offer Voice over Internet Protocol services - transmission of voice services over a broadband network.
The company also has plans to establish a new PoP (Point of Presence) in Singapore for VoIP-related services that includes International Calling Card Service (ICC), Toll Free Services, IP Telephony Services.
Ex-addict says officer pressured her into having sex
Submitted by Mohit Joshi on Sat, 05/03/2008 - 11:23.Singapore - A recovering drug addict claimed she was pressured into having sex with a police sergeant who worked at the Singapore centre where she went for urine tests, news reports said Saturday.
Phua Jun Yang, 25, is facing accusations in court that he showed leniency in his supervision of the woman's urine tests in return for sexual favours, The Straits Times said.
He is also accused of contravening the Official Secrets Act (OSA) on January 4, 2007, by giving the woman inside information about the activities of a drug dealer.
"I was afraid that if I did not do what he wanted, my urine samples may have problems," the 23-year-old waitress said during the opening day Friday of an expected six-day trial.
SilkAir stops issuing paper tickets
Submitted by Mohit Joshi on Sat, 05/03/2008 - 11:31.
Singapore - SilkAir and its authorized travel agents have stopped issuing paper tickets, a month ahead of a deadline set by the International Air Transport Association (IATA), the carrier said Saturday.
Travellers are given an electronic ticket, which they can print and carry with them when flying, said the Singapore Airlines subsidiary.
IATA will stop printing paper tickets starting June 1, saving the industry 2 billion US dollars a year and the equivalent of 50,000 mature trees.
By the deadline, it is expected that 96 per cent of all tickets issued globally will be electronic.
Chinese and Vietnamese turn to hawking bootleg cigarettes
Submitted by Sahil Nagpal on Sun, 05/04/2008 - 11:57.
Singapore - Peddlers from China and Vietnam are hawking bootleg cigarettes openly in Singapore and even stopping cars to sell their stash, The Sunday Times said.
The cigarettes are smuggled in on board cargo ships which dock at Jurong Port.
The peddlers buy their contraband at about 2 Singapore dollars (1.39 US dollars) for a pack of 20 sticks and resell them to street buyers in the Geylang area, the report said.
A pack of Marlboro Red or Marlboro Menthol costs up to 6 Singapore dollars (4.19 US dollars), half of the amount a duty-paid pack costs in the city-state.
Taiwan searches home of Singaporean intermediary in Taipei's
Submitted by Sahil Nagpal on Sun, 05/04/2008 - 12:32.Taipei - Authorities searched the home of a Singaporean accused of embezzling Taiwan's million-dollar diplomatic fund, as the scandal has begun to implicate more Taiwanese officials.
On Saturday evening, prosecutors searched the home of Wu Shih-tsai and seized a document on Taipei's plan to convince Papua New Guinea (PNG) recognize Taiwan - instead of China - in exchange for 30 million US dollars, press reports said.
At a news conference early Saturday, Wu claimed he was trying to help Taiwan and had not embezzled any of Taiwan's money.
Singapore sending teams to help in Afghanistan's reconstruction
Submitted by Sahil Nagpal on Mon, 05/05/2008 - 18:00.Singapore - The Singapore Armed Force (SAF) is sending two construction engineering teams to Bamiyan province in central Afghanistan as part of the city-state's contribution to the international humanitarian assistance and reconstruction efforts, the defence ministry said on Monday.
Each of the six-man teams will be operating as part of the New Zealand Defence Force's provincial reconstruction team for three months from early May to October, the ministry's statement said.
Four bodybuilders fail drop test
Submitted by Sahil Nagpal on Tue, 05/06/2008 - 11:02.Singapore - Four bodybuilders who competed in Singapore's National Championships have tested positive for illegal performance- enhancing drugs, the largest number of drug cheats nabbed in a single event in the city-state, news reports said Tuesday.
Two others who were supposed to give urine samples at the April 20 meet skipped the random tests.
Caught in the dragnet was Zasi Zura Raush, who won in the lightweight division, The Straits Times said. He was a bronze medalist at the South-East Asia Games and last year's "Mr Singapore," the overall winner in the annual championships.
If found guilty, he will be stripped of his title.
Slower growth in passengers expected for Asia-Pacific airlines
Submitted by Sahil Nagpal on Tue, 05/06/2008 - 15:23.Singapore - Slower growth in the number of passengers carried by Asia-Pacific airlines was anticipated in a survey conducted by the International Air Transport Association and released Tuesday, indicating US woes might be spreading.
The slower growth is a particular concern "since this is a region where travel demand is expected to continue to grow, even in the face of a US recession," the association said.
The quarterly survey of airline executives in March evaluated their business sentiment as oil and fuel prices reached record highs and as growth in the industry in the Asia-Pacific fell to 4.3 per cent in March from the same month a year earlier, down from the 6.9-per-cent growth recorded at the same point in 2007.
Singapore to have highest concentration of millionaires by 2017
Submitted by Sahil Nagpal on Wed, 05/07/2008 - 11:32.
Singapore - Singapore is expected to surpass Hong Kong within 10 years as home to the highest concentration of millionaires in the world, a Barclays Wealth report said Wednesday.
A total of 40.7 per cent of all households, or 436,000, are forecast to boast new wealth in excess of 1 million US dollars by 2017.
Two out of every five households in the city-state are expected to be millionaires by then, according to the report examining the combined wealth of household members.
Singapore ranked second with 23.3 per cent last year, trailing Hong Kong's rate of 26.4 per cent.
Singapore Airlines to increase fuel surcharge
Submitted by Sahil Nagpal on Wed, 05/07/2008 - 22:31.
Singapore - Singapore Airlines (SIA) will increase its fuel surcharge for tickets effective May 12 as a result of the sustained increase in jet fuel prices in recent months, the carrier said on Wednesday.
The new levels apply to SIA and subsidiary SilkAir flights. The prices go up by 5 US dollars to 35 US dollars for flights between Singapore and Association of South-East Asian countries, and up by 20 US dollars to 150 US dollars for flights between the city-state and gateways in the United States and Canada.
A 15-US-dollar increase to 95 US dollars applies to all other flights.
Singapore looking at lighter touch in regulating internet
Submitted by Mohit Joshi on Thu, 05/08/2008 - 11:14.Singapore - The Singapore government is considering a lighter touch in regulating the internet after 13 bloggers called for freedom to discuss political issues and views, the group said on Thursday.
The bloggers also proposed that any regulation of online content should not be at the administrative discretion of officials, but through moderation by a consultative body of citizens.
"To keep up with the fast-evolving new media landscape, we have been reviewing our light-touch approach and are considering how we could take a lighter-touch approach," The Straits Times quoted K Bhavani, press secretary at the Ministry of Information, Communications and the Arts (MICA), as saying.
Asia-Pacific business class airfares on the rise
Submitted by Sahil Nagpal on Thu, 05/08/2008 - 15:51.Singapore - Business class airfares in the Asia-Pacific region climbed 4 per cent in the first quarter of this year on demand for long-haul flights to the Americas and on regional routes, a business travel monitor said on Thursday.
Airfares across the region rose 7 per cent year-on-year, said the American Express report.
"Current economic conditions seem to be having little effect on published airfares across (the) Asia-Pacific, with demand still outstripping supply, The Business Times quoted advisory services head Kurt Knackstedt as saying.
Some airlines are shifting towards a different business model to capitalize on the popularity of business class seats.
Baby boy drowns in bucket of water at home
Submitted by Mohit Joshi on Fri, 05/09/2008 - 10:53.Singapore - A baby boy drowned in a bucket of water three days before his first birthday, news reports said Friday.
The child, known among his Singapore neighbours as Ah Boy, was found with his head in the bucket in the bathroom of the one-room flat, The Straits Times said.
The water had been collected for a bath. The boy apparently managed to lift himself by holding onto the side of the bucket before falling face first into the water.
He was taken to a hospital Wednesday near his flat, where he was pronounced dead.
Neighbours said he was looked after by his grandmother when his parents were not at home. (dpa)
SGX wants member firms to adopt disaster readiness plan
Submitted by Sahil Nagpal on Fri, 05/09/2008 - 11:37.Singapore -
The Singapore Exchange (SGX) has proposed its member firms maintain a business continuity plan to help them cope in the event of disasters and boost confidence that the marketplace will bounce back quickly, its website said on Friday.
The public has until May 22 to give its feedback.
The proposed rules are aimed at securities and derivatives members including the likes of Merrill Lynch Singapore, Goldman Sachs Futures, Barclays Bank plc and others.
ASEAN chairman offers to host meeting on helping Myanmar
Submitted by Sahil Nagpal on Fri, 05/09/2008 - 23:03.
Singapore - Prime Minister Lee Hsien Loong offered to host a meeting of the Association of South-East Asian Nations (ASEAN) Foreign Ministers Friday to discuss how the grouping can help Myanmar in its relief and recovery efforts in the aftermath of last weekend's devastating cyclone, the Foreign Ministry said.
The military regime has refused to let in foreign aid workers, but is willing to accept supplies from the UN and some other countries.
Singapore holds the ASEAN chairmanship. A senior officials meeting in Singapore discussed "how ASEAN could respond in support of Myanmar," one of the 10 members, a ministry statement said.
Cases of abused and neglected children on the rise in Singapore
Submitted by Mohit Joshi on Sat, 05/10/2008 - 10:51.
Singapore - The number of abused and neglected children brought before Singapore courts for care and protection orders has been on the rise, published data said on Saturday.
The number reached 114 last year compared to 18 in 1996.
In one-third of the 2007 cases, the abusers were the children's mothers, with fathers accounting for one-fifth of the cases, said The Straits Times. One in four youngsters were abused by both parents.
Consumption of shark's fins boosted by robust economy and weddings
Submitted by Sahil Nagpal on Sat, 05/10/2008 - 17:51.Singapore - Consumption of shark's fins soared in Singapore last year powered by a robust economy and an increase in weddings despite pleas from environmental groups noting one-third of the species in the world are at risk of extinction or critically endangered, a published report said on Saturday.
More than 470 tonnes were devoured in 2007 compared to 182 tonnes in 2006 placing Singapore among the world top five shark's fin importers alongside Hong Kong, China, Taiwan and Indonesia, The Straits Times said. Hong Kong is the top consumer.
Woman makes surprisingly large donation for Myanmar cyclone victims
Submitted by Sahil Nagpal on Sun, 05/11/2008 - 11:01.
Singapore - A woman eager to show her son how donations are made turned over 100,000 Singapore dollars (74,000 US dollars) for victims of the cyclone in Myanmar, The Sunday Times said.
In her 40s, the woman went to the Red Cross House and asked how she could help. She then took out of her handbag a wad of 1,000- Singapore-dollar (740-US-dollar) notes, totaling 50,000 Singapore dollars (37,000 US dollars), tied together with a rubber band.
While the workers were thanking her, the woman took out another wad, saying: "Here's another 50,000."
Agri-funds sprouting in Singapore
Submitted by Sahil Nagpal on Mon, 05/12/2008 - 10:54.Singapore - Soaring prices for agricultural commodities are whetting investors' appetites for agri-funds that have been sprouting in Singapore, news reports said on Monday.
At least four investment funds launched in the past week have offered exposure to the performance of such markets as rice, wheat and soya, The Straits Times said.
Among them are Barclays Global Agriculture Delta Fund and BNP Paribas Agriculture fund, available to retail investors for a minimum 1,000-Singapore-dollar (740-US-dollar) investment.
Merrill Lynch is distributing its Citrine Agriculture Booster Notes, linked to six indexes. At least three private banks recently launched their own products.
Petition calls for aid workers to enter Myanmar
Submitted by Mohit Joshi on Mon, 05/12/2008 - 10:56.
Singapore - Nearly 2,000 people in Singapore have signed a petition calling on the international community to enter cyclone- battered Myanmar with or without the military government's permission, organizers said on Monday.
The document, including signatures from Myanmar nationals and Singaporeans, will be presented to various embassies.
"It is imperative to act before many more lives are unnecessarily lost," said the petition calling for aid workers to enter "regardless of the lack of permission from the military junta."
ASEAN cyclone relief talks likely to be held in Singapore
Submitted by Mohit Joshi on Mon, 05/12/2008 - 11:33.
Singapore - Foreign ministers from the Association of South- East Asian Nations (ASEAN) are likely to meet in Singapore soon to discuss measures to support relief and recovery efforts in cyclone- hit Myanmar, The Straits Times said on Monday.
It is understood that Myanmar has agreed to Prime Minister Lee Hsien Loong's offer to host the meeting, the report said, and the country's foreign minister is expected to attend.
Lee's offer was conveyed in a letter that Foreign Minister George Yeo wrote to his Myanmar counterpart U Nyan Win on Friday.
Two Singapore aid agencies given go-ahead to enter Myanmar
Submitted by Mohit Joshi on Tue, 05/13/2008 - 10:59.
Singapore - Welfare organizations in Singapore have received permission from Myamnar's military government to enter the cyclone- battered country and deliver aid, two groups said Tuesday.
The city-state has also confirmed it is hosting a special meeting Monday of Association of South-East Asian Nations (ASEAN) foreign ministers and has the go-ahead from Myanmar for the grouping to assess the damage.
Three members of the Singapore Red Cross were ready to fly Tuesday into Myanmar and start laying the groundwork for a nine-member medical team. Three members of the Salvation Army expect to be in Myanmar by Thursday.
Chemistry prodigy, 8, is youngest at Singapore polytechnic
Submitted by Sahil Nagpal on Tue, 05/13/2008 - 12:28.
Singapore - An 8-year-old boy has become the youngstest student at a polytechnic in Singapore, the institution said Tuesday.
Ainan Cawley, a chemistry prodigy, created a performance for Mother's Day.
"Our intention is to equip him with the skills needed for a scientist," father Valentine Cawley told The Straits Times. "He will be doing all the laboratory-based chemistry courses."
The child's parents plan to homeschool their son. (dpa)
Singapore buys 11-per-cent stake in US-based energy firm
Submitted by Sahil Nagpal on Tue, 05/13/2008 - 14:51.
Singapore - The Government of Singapore Investment Corp (GIC), one of the world's largest sovereign wealth funds, said Tuesday that it has purchased an
11-per-cent stake in the US-based energy-infrastructure firm AEI for 400 million US dollars.
The purchase was made through GIC's private equity wing, GIC Special Investments.
AEI owns and operates businesses in emerging markets worldwide, including China, Mexico and Argentina.
Singapore workers prefer relocation to more than 45-minute commute
Submitted by Sahil Nagpal on Tue, 05/13/2008 - 15:59.
Singapore - Workers in Singapore prefer relocation to another country over commuting more than 45 minutes each way to work, according to a recruitment firm's poll released Tuesday.
Nearly eight in 10 of the more than 2,000 employees queried by Kelly Services said they would consider relocating to another country. Fifty-six per cent were prepared to move to unfamiliar locations where they don't speak the local language.
India propels SingTel to big jump in mobile phone subscribers
Submitted by Mohit Joshi on Tue, 05/13/2008 - 18:06.
Singapore - Singapore Telecommunications added a record 13.8 million mobile-phone customers during its fourth quarter ending in March, propelled by Indian subscribers, South-East Asia's largest telephone company said on Tuesday.
Bharti Airtel Ltd, 31 per cent owned by SingTel, gained 6.8 million wireless customers. SingTel's total reached 185.3 million mobile-phone users, it said in a statement.
Indonesia's PT Telekomunikasi Selular added 3.4 million customers and Australia's SingTel Optus Pty 135,000 during the three-month period.
Another 244,000 customers were added in Singapore. (dpa)
Illegal foreign hawkers on the rise in Singapore
Submitted by Sahil Nagpal on Wed, 05/14/2008 - 11:47.Singapore - Foreigners from India, Bangladesh, China, Mongolia and Indonesia are making up the bulk of illegal hawkers in Singapore, news reports said on Wednesday.
The National Environment Agency (NEA) said so far this year, 650 of the 800 hawkers nabbed have come from abroad. Since only Singaporeans can obtain licenses to hawk legally, the activities of those from elsewhere are illegal.
Getting caught is viewed as a risk of the trade, the NEA said.
"I have been doing this all my life," a hawker was quoted as saying. "What else can I do?"
They typically sell curry puffs, fish paste cakes and fruit wherever crowds congregate, said the NEA findings in The Straits Times.
PC piracy rate up in Asia-Pacific on China's growing market share
Submitted by Sahil Nagpal on Wed, 05/14/2008 - 15:42.Singapore - China's and India's growing share of the overall Asia-Pacific personal computer market has hiked the region's software piracy rate and increased financial losses, the Business Software Alliance (BSA) said in a report released on Wednesday.
"Although solid progress was seen in the region with 13 economies registering decreases in piracy rates, "the average PC software piracy rate increased from 55 per cent in 2006 to 59 per in 2007, the study said. "Dollar losses from piracy rose from almost 12 billion US dollars in 2006 to over 14 billion US dollars in 2007."
The annual PC Software Piracy Study, conducted by market research and forecasting firm IDC, was released in Singapore.
Singapore drug-development firm receives "orphan" approval from US
Submitted by Sahil Nagpal on Wed, 05/14/2008 - 18:23.
Singapore - The drug-development firm S*Bio has been granted "orphan" approval from the US Food and Drug Administration (FDA) for a product aimed a treating a rare blood disease, the Singapore company said Wednesday.
The designation is awarded by the FDA for promising therapies to treat diseases affecting fewer than 200,000 people in the United States.
The drug, code-named SB1518, is meant to treat myeloproliferative disorders. Characterized by a proliferation of certain blood cells, the disorders can lead to cardiovascular disease and leukaemia.
Singapore to help North Korea in trade
Submitted by Sahil Nagpal on Thu, 05/15/2008 - 11:02.Singapore - Singapore will help North Korea in economic matters, though the city-state is not a big player in north-east Asian politics, Singapore's Foreign Minister George Yeo said in published remarks Thursday.
"We must be realistic, accept that we are not a major player in north-east Asia, but where we can be helpful and promote trade and exchanges, we should," The Straits Times quoted Yeo as saying, as he wrapped up an official visit to North Korea, the first by a Singapore minister.
Yeo met with North Korea's second-ranking political leader Kim Yong Nam, Foreign Minister Pak Ui Chun and Foreign Trade Minister Ri Ryong Nam.
Singapore is the only ASEAN country without an ambassador to Pyongyang.
SIA launches all-business-class service to New York
Submitted by Sahil Nagpal on Thu, 05/15/2008 - 15:31.Singapore - Singapore Airlines (SIA) launched Thursday its new all-business-class service to New York via Newark Airport in response to demand from corporate travellers, the carrier said.
"With this newly reconfigured aircraft, we will be increasing our business class capacity," said SIA Executive Vice President Huang Cheng Eng.
Providing customers with more personal space and privacy, the seats are arranged in a four abreast, one-two-one layout, with every seat having direct access to the aisle.
The seats convert into flat beds.
Lee Kuan Yew's wife in serious condition after stroke
Submitted by Mohit Joshi on Fri, 05/16/2008 - 10:56.Singapore (dpa) - Mrs Lee Kuan Yew, wife of Singapore's founding father, was in serious condition Friday after suffering a stroke, a statement said.
The haemorrhage experienced by the 87-year-old, whose maiden name is Kwa Geok Choo, has subsided, and she is able to recognize immediate family members, said the statement from Minister Mentor Lee Kuan Yew's office.
Mrs Lee, as she is referred to, on Monday experienced sudden weakness in the left side of her body and slurring of speech. She was taken to the National Neuroscience Institute (NNI) for an urgent brain scan, which revealed bleeding in the right side of the brain.
She was subsequently admitted to the Neurointensive Care Unit in Tan Tock Seng Hospital.
Retiree accused of chaining Singapore library main doors
Submitted by Mohit Joshi on Fri, 05/16/2008 - 11:27.
Singapore - A 58-year-old retiree was charged with putting a bicycle chain around the main door handles of Singapore's National Library, news reports said on Friday.
Bin Hee Heng's bicycle had allegedly been chained up previously in March by library staff because it was parked on a pedestrian walkway instead of a designated bicycle rack.
The cyclist was accused in district court of retaliating by chaining up the glass doors that evening, The Straits Times said. The police were called.
Singapore sends 55-member rescue team to China
Submitted by Mohit Joshi on Fri, 05/16/2008 - 14:51.Singapore - Singapore is sending a 55-member disaster assistance and rescue team to China's earthquake-hit Sichuan province, where the death toll may have reached 50,000, the foreign ministry said on Friday.
The team, flying to the provincial capital of Chengdu, was led by commander Francis Ng How Juah.
China's state media said on Thursday 20,000 deaths have been confirmed since Monday's 7.8-magnitude quake and 30,000 people were missing.
The city-state has donated 200,000 US dollars while several companies with a presence in and around the quake zone have pledged substantial sums. Wilmar International Limited, an agri-processing company, is contributing 2.8 million US dollars.
Asia-Pacific Breweries expanding production in southern China
Submitted by Sahil Nagpal on Fri, 05/16/2008 - 20:41.Singapore - Asia-Pacific Breweries (APB), the makers of Tiger Beer, is expanding production in southern China with the construction of a new brewery in Guangzhou, APB confirmed on Friday.
Its joint venture Heineken-APB China, through its wholly owned subsidiary Guangzhou Asia Pacific Brewery Co, will build the new facility to be completed in 2009.
"Our beer brands, Tiger, Heineken and Anchor, have made significant inroads in south China," said APB chief executive Koh Poh Tiong.
While the investment cost is estimated at 120 million Singapore dollars (82 million US dollars), the project will enable APB to further expanding the Hainen market.
The Hainan brewery produces 1 million bottles of beer a day. (dpa)
Miss Singapore Universe dropped from TV
Submitted by Sahil Nagpal on Sun, 05/18/2008 - 11:02.
Singapore - Television viewers will no longer watch the Miss Singapore Universe contest with its competing beauties vying for the coveted title, The Sunday Times said.
The event with 16 finalists will still go on Tuesday night, but as a dinner show at the Marriott Hotel.
MediaCorp, which has been producing the show for seven years, cited plunging viewership and declining sponsorship money.
The international Miss Universe contest will be held in Vietnam in July.
Consumers demand better service
Submitted by Sahil Nagpal on Mon, 05/19/2008 - 11:36.
Singapore - A majority of Singapore consumers have stopped doing business with at least one firm in the last year due to poor service, a survey said Monday.
Half of the 300 consumers queried rate the overall quality of service they received as fair or "poor/terrible."
Sixty-three per cent said their expectations are seldom met, according to the Accenture Survey on Customer Service Standards.
The results are similar to an Accenture survey last year of more than 3,500 consumers in China, Australia, the United States and Brazil.
Buddhism fastest-growing religion in Singapore
Submitted by Sahil Nagpal on Mon, 05/19/2008 - 13:35.
Singapore - Buddhism is the fastest-growing religion in Singapore, particularly among the young and educated, census figures released Monday showed.
The number of people aged 15 and over who are Buddhists jumped from 31 per cent of the population in 1990 to 43 per cent, or 1.1 million people, 10 years later. Buddhism is the main religion in the city-state.
Devotees congregated at temples on Vesak Day Monday, marking the birth, enlightenment and nirvana of the Buddha.
Quake aide scam hits Singapore
Submitted by Mohit Joshi on Tue, 05/20/2008 - 10:59.
Singapore - A telephone scam praying on the generosity of people toward China's quake victims has surfaced in Singapore, news reports said.
Text messages from China mobile-phone numbers are increasingly appealing for donations to help disaster victims.
A similar scam is festering in China, where police have arrested eight people in Guizhou who sent fake messages asking for money, The Straits Times said.
Rwanda's President Kagame visits Singapore
Submitted by Sahil Nagpal on Tue, 05/20/2008 - 11:20.
Singapore - Rwandan President Paul Kagame kicked off his first official visit to Singapore Tuesday at the invitation of Prime Minister Lee Hsien Loong.
He was scheduled to call on President SR Nathan and to meet with Lee, who will host a dinner in Kagame's honour.
In the city-state until May 23, Kagame was set to visit the Singapore Cooperation Enterprise, an Institute of Technical Education, and meet with business leaders.
Rwandan Minister of Foreign Affairs and Cooperation Rosemary Museminali is part of Kagame's delegation. (dpa)
Breakthrough film developed by Singapore researchers
Submitted by Sahil Nagpal on Tue, 05/20/2008 - 16:24.Singapore - A new film developed by researchers in Singapore has the potential to jump-start the plastic electronics industry in the city-state, the research team said on Tuesday.
Apart from the need to be flexible, the plastic layer from A*Star's Institute of Materials Research and Engineering has to be impervious to moisture and oxygen to prevent organic substances from degrading or declining in performance.
A test conducted by the UK Centre for Process Innovation showed the material using the technology is 1,000 times more impervious to moisture than existing plastic films.
For manufacturers and consumers, this means a longer lifespan for end products, the researchers said.
A380 logs first intra-Asia round trip after diversion
Submitted by Mohit Joshi on Tue, 05/20/2008 - 18:57.
Singapore - An Airbus 380 superjumbo jet belonging to Singapore Airlines took off from Tokyo's Narita International Airport Tuesday in the first intra-Asia round trip for the world's largest commercial aircraft after a delay cause by the diversion of the initial flight from Singapore, an airline spokesman said.
The double-decker jet, carrying 394 passengers and 28 crew members, landed at Narita more than four hours behind schedule after it was diverted to Nagoya first because of bad weather, he said.
World Bank won't provide aid to lax loan repayer Myanmar
Submitted by Sahil Nagpal on Tue, 05/20/2008 - 19:22.Singapore - The World Bank is currently not in a position to give aid to cyclone-wracked Myanmar because the country has fallen behind in its debt repayments, Managing Director Juan Jose Daboub said on Tuesday.
Noting the country has been in arrears since 1998, Daboub said, "At this time we are not in a position of providing resources to Myanmar."
Daboub told reporters following a talk at a Singapore university that the bank's policy is not to provide funds "to countries that have fallen behind" in repayments.
Daboub's comments came one day after after Myanmar agreed to let the Association of South-East Asian Nations (ASEAN) lead an international aid effort for cyclone-hit areas.
Open verdict reached in soldier's death in Taiwan
Submitted by Sahil Nagpal on Wed, 05/21/2008 - 12:11.Singapore - An open verdict was reached in the death of a Singapore soldier on duty in Taiwan after an out-of-control Taiwanese fighter jet smashed into the base killing the pilot, co-pilot and two people on the ground, news reports said on Wednesday.
State Coroner Victor Yeo said that without a final report from the Taiwanese, he could not determine the cause of the accident, The Straits Times said.
Details of the crash on May 11 last year were recounted during the coroner's inquiry on Tuesday into the death of Lance Corporal Calvin Chow Han Min, a 19-year-old supply assistant.
Chow, who was cleaning his gun when the jet spiralled toward the camp in Hukou, suffered severe burns and died 17 days later in a Singapore hospital.
Malaysia's opposition plans no confidence vote by mid-September
Submitted by Mohit Joshi on Wed, 05/21/2008 - 13:39.
Singapore - Anwar Ibrahim, the de facto leader of Malaysia's opposition, told reporters Wednesday he wants bring a motion of no confidence against the ruling government by the middle of September.
During a press conference in Singapore, Anwar told reporters "we have the numbers, we can move," adding that his People's Justice Party needed just 30 members to gain a simple majority in parliament. His party controls 82 seats in the legislature.
Singapore viewed as Asian role model for infrastructure finance
Submitted by Sahil Nagpal on Wed, 05/21/2008 - 14:07.
Singapore - Singapore is emerging as an Asian role model for infrastructure finance with its small but active "public private partnership" (PPP) programme, Fitch Ratings said in a report released on Wednesday.
"While other Asian countries have executed larger PPPs, only a few have had Singapore's success in sustaining a steady supply of new projects," Fitch said.
Evergreen Marine threatens to lower British flags for Singapore's
Submitted by Sahil Nagpal on Wed, 05/21/2008 - 14:57.Taipei - Taiwan's Evergreen Marine Corp confirmed Wednesday that it would change the registration of 11 of its container ships from Britain to Singapore if Britain changes its tonnage tax rules.
"If it is implemented, we will let our 11 ships which fly the UK flag to register in Singapore," an Evergreen Marine press officer said.
"But our operation in the UK will not change," she said. "Evergreen's subsidiary, Evergreen Marine UK, and our shipping agent in the UK will continue their operations as before."
Chang Jung-fa - chairman of Evergreen Marine, one of the world's leading container shipping lines - protested the proposed change to Britain's tonnage tax rules in a May
Three aboard unscathed in Air Force helicopter crash-landing
Submitted by Mohit Joshi on Thu, 05/22/2008 - 11:02.
Singapore - Two pilots and an aircrew specialist emerged unharmed from the crash-landing of a Singapore Air Force helicopter that went down within seconds of takeoff, the Defence Ministry said.
The city-state's entire fleet of Super Puma helicopters has been temporarily grounded as a result of Wednesday's crash, the ministry statement said.
Colonel Darius Lim said the helicopter was departing on a routine training mission. It was hovering just above the ground when it came crashing down at the Sembawang Air Base.
Only 10 per cent of Singapore firms hit by corruption
Submitted by Mohit Joshi on Thu, 05/22/2008 - 11:16.
Singapore - Bribery and other forms of dodgy dealings are not a huge problem in Singapore companies, a published survey said Thursday.
Only one in 10 firms polled in the Ernst & Young survey experienced an incident of bribery or corruption in the last two years, well under the global average of nearly four in
10.
SIA to increase super-jumbo services to London
Submitted by Mohit Joshi on Thu, 05/22/2008 - 16:55.Singapore - Singapore Airlines (SIA), the only operator of the world's largest passenger aircraft, is adding an additional A380 service on the Singapore to London route on Mondays, Wednesdays, Fridays and Sundays, the carrier said on Thursday.
Passenger loads on the Singapore-London route "have been exceptionally encouraging," said Huang Cheng Eng, SIA's executive vice president for marketing. "The deployment of another A380 on this route will cater to continual strong demand."
Singapore sends two medical teams to Myanmar
Submitted by Mohit Joshi on Thu, 05/22/2008 - 18:10.Singapore - Two medical teams from Singapore were sent to cyclone-hit Myanmar on Thursday under the coordination of the Association of South-East Asian Nations (ASEAN), the health ministry said on Thursday.
Four doctors and eight nurses "will provide medical support as part of Singapore's contribution to the relief effort," the ministry said. They also brought along medical supplies to treat water-borne diseases.
The two teams were formed by personnel from various hospitals.
They departed on a Singapore Armed Force C-130 aircraft from Paya Lebar Air Base on Thursday for a two-week period.
Sunil Mantri Realty signs MoU with MSC Cyberport
Submitted by Sumeet Kak on Fri, 05/23/2008 - 03:59.
Mumbai based real estate development firm Sunil Mantri Realty Ltd has signed a memorandum of understanding (MoU) with MSC Cyberport Sdn.
Bhd for development, construction, marketing and funding of Bandar MSC Cyberport, which is the first Malaysia cybercity in Kulai, Johor.
Sunil Mantri proposes to pump US$ 100 million in the joint venture project, in which the State Government of Johor Barul, through a subsidiary, will hold 30% of equity and balance 70% will be jointly held by Sunil Mantri Realty and MSC Cyberport Sdn.Bhd.
Cabin cruiser sinks off Singapore, leaving one man dead
Submitted by Sahil Nagpal on Fri, 05/23/2008 - 10:53.Singapore - A private boat carrying 12 people sank off Singapore leaving one person dead and the others hospitalized, the police coast guard said Friday.
It is believed that the fibreglass cabin cruiser developed a leak and started taking on water before sinking. Police said they received a call Thursday night from a passing boat informing them of the cruiser's plight.
Police rescued eight people from the water while two other boats pulled out four.
A 57-year-old man was pronounced dead an hour later by paramedics, The Straits Times said. He reportedly had a history of heart problems.
The other passengers were four men, four women and three girls aged between 8 and 10.
Hungarian President Solyom focuses on climate-change issues
Submitted by Sahil Nagpal on Fri, 05/23/2008 - 11:24.Singapore -
Hungarian President Laszlo Solyom focused on climate change and the environment Friday on the second day of his state visit to Singapore, after discussing collaboration on the issues with Singapore President SR Nathan.
He was scheduled to deliver a lecture at Singapore Management University on governing for sustainability.
Jett8 replacing ageing freighters with newer planes
Submitted by Sahil Nagpal on Sat, 05/24/2008 - 11:17.Singapore -
Singapore's only privately-owned cargo airline has started replacing its ageing Boeing 747-200Fs with newer generation and more fuel efficient aircraft, a news report said on Saturday.
Jett8 Airlines Cargo has signed a one-year lease agreement for a B747-400 extended range freighter with Shenzhen-based Jade Cargo International, said The Business Times.
Construction noise angers more residents
Submitted by Mohit Joshi on Mon, 05/26/2008 - 10:51.Singapore - The incessant din from pile drivers, hacking and demolition work at Singapore construction sites has triggered mounting complaints of deafening noise, the National Environment Agency (NEA) said in a published report on Monday.
Complaints last year reached 9,228, nearly double the 4,953 in 2005.
About 6,380 worksites dotted the city-state in 2007, a 30 per cent hike from 5,020 the previous year, said the data in The Straits Times.
Noise limits are imposed only for weekday nights, Sundays and public holidays.
Residents complain that while worksites are quiet at night, they are deafening during the day.
Daughter dies two days after mom
Submitted by Sahil Nagpal on Mon, 05/26/2008 - 10:55.Singapore - A 64-year-old woman died two days after her 101- year-old mother in the same Singapore hospital, news reports said Monday.
The mother, Yeo Ah Lan, had been confined in the facility for two months with a skin condition.
Daughter Yeo Kui Ing, 64, had lingered in the hospital since Wednesday after an accident with a motorcycle left her with head injuries, The Straits Times said.
She had been on her way to the hospital to visit her mother.
Yeo never gained consciousness and died Saturday, two days after the older patient.
Indiabulls Real Estate to raise up to $ 286 million through IPO in Singapore
Submitted by Gaurav Mehra on Tue, 05/27/2008 - 07:56.

Indiabulls Real Estate Ltd (IBREL) plans to raise up to US$ 286 million through an initial public offer (IPO) in Singapore.
IBREL has offered to sell 353.5 million shares of Indiabulls Properties Investment Trust (IPIT) at a price band of 1.0-1.1 Singapore dollar each. This will be the first stake sale by an Indian real estate company in Singapore.
IPIT is a business trust registered under the laws of Singapore and is planning to make an offer of its units for subscription by investors.
Singapore private school to open campus in Uzbekistan
Submitted by Sahil Nagpal on Tue, 05/27/2008 - 10:52.Singapore - A private school in Singapore plans to open its first overseas campus in August in the capital of Uzbekistan, backers said Tuesday.
The Management Development Institute of Singapore (MDIS) is setting up shop in the city of Tashkent.
"This country is untapped," The Straits Times quoted MDIS secretary-general R Theyvendran as saying. "It's new territory, and many people have not heard of it."
A team from the Central Asian republic, which became independent following the collapse of the Soviet Union in 1991, came to Singapore last year to invite foreign educational institutions.
A joint venture was struck between MDIS and the Uzbekistan Banking Association.
Online scams soliciting relief donations for China, Myanmar
Submitted by Mohit Joshi on Tue, 05/27/2008 - 11:03.Singapore -
Cyber swindlers posing as victims in disaster- hit China and Myanmar are targeting citizens of Singapore and elsewhere with email scams and phony websites soliciting donations, news reports said Tuesday.
The frauds have prompted widespread alerts from sources including information technology firms in Singapore about the attempts to capitalize on the earthquake and cyclone, which have claimed at least 150,000 lives.
Experts told The Straits Times that the perpetrators are hoping to tap into the generosity of Singaporeans by posing as victims and charities.
Local staff seen filling more senior posts in emerging markets
Submitted by Sahil Nagpal on Wed, 05/28/2008 - 15:07.
Singapore - Headhunters in five emerging markets worldwide predict that costly international staff will be replaced by locals, returning nationals and regional talent within the next decade, a study said on Wednesday.
Conducted by the Association of Executive Search Consultants (AESC), the study gathered responses last month from 62 executive search professionals from China, India, Brazil, Russia and the Middle East.
Singapore and Syria establish diplomatic relations
Submitted by Mohit Joshi on Thu, 05/29/2008 - 11:10.Singapore - Singapore and Syria have established diplomatic relations, the foreign ministry said on Thursday.
The Middle Eastern country, which borders the Mediterranean Sea between Lebanon and Turkey, has a population of 19.7 million.
The diplomatic ties went into effect on Wednesday, the ministry said in a brief tatement. (dpa)
Gambling bites ever younger victims in Singapore
Submitted by Sahil Nagpal on Thu, 05/29/2008 - 11:12.Singapore - Singaporeans are starting to gamble at a younger age, triggering fears that the city-state could face a wave of betting addicts, a published study said on Thursday.
Nearly one-quarter of those queried started gambling when they were under 18, a 10 per cent hike over 2005.
About 70 per cent began wagering regularly before they turned 30, up from 60 per cent in 2005, said the findings in The Straits Times.
With Singapore's first two casinos scheduled to open within two years, experts warn the number of addicts could rise. Studies have shown that youth who gamble are up to four-times more likely to become addicts than adults.
Shark's fin won't be on menu at massive casino resort
Submitted by Mohit Joshi on Fri, 05/30/2008 - 11:13.Singapore - Shark's fin will not be served in the restaurants of a massive casino resort being built on Singapore's Sentosa island, but the controversial delicacy will be available to high rollers.
The decision by Resorts World at Sentosa is meant to highlight the resort's commitment to the environment, spokesman Krist Boo said Thursday.
Resorts World is the second major retreat in the region to reject the controversial dish, after Hong Kong Disneyland.
Environmental groups have intensified protests targeting restaurants and resorts that offer the soup, maintaining that one third of shark species in the world are critically endangered.
Defence ministers establish protocols for disaster relief
Submitted by Mohit Joshi on Sun, 06/01/2008 - 11:52.Singapore - Defence minister and senior officials from 27 countries agreed on "norms of behaviour" for offering disaster relief amid the slow pace of delivering international aid supplies to cyclone-devastated Myanmar.
With the Shangri-La Dialogue, an annual forum, scheduled to conclude on Sunday, the ministers agreed that timely delivery of humanitarian assistance was critical.
Three guiding principles were proposed for multilateral cooperation, said a statement from Singapore's Defence Ministry.
The first principle stressed the responsibility of disaster-hit countries to quickly and effectively bring humanitarian relief to people in their territories.
Super oil absorber developed to sop up spills
Submitted by Mohit Joshi on Mon, 06/02/2008 - 11:07.Singapore - A new super-absorbing material shows promise of sopping up oil leaks and toxic spills in five years, sparing coastlines devastating effects, a published report said on Monday.
The paper-like substance made up of a mesh of fine wires, is the work of an international team of scientists including National University of Singapore assistant professor Liu Xiao Gang.
The make-up of the strands, known as nanowires, enables them to separate water from oil or other poisonous chemicals containing carbon, The Straits Times said.
Joined into fabric-like layers, they could be floated on the surface of the sea in tanks, absorbing oil and leaving clean water behind.
Delegation from Bahrain in Singapore
Submitted by Sahil Nagpal on Tue, 06/03/2008 - 10:54.Singapore - A parliamentary delegation from Bahrain is in Singapore through Thursday, government officials said Tuesday.
Five members of the Gulf principality's Shura Council are in the city-state at the invitation of Singapore Parliament Speaker Abdullah Tarmugi.
The delegation was scheduled to meet with Foreign Minister George Yeo and Deputy Prime Minister S Jayakumar, who also holds the portfolio of coordinating minister for national security.
Islamic Religious Council of Singapore President Alami Musa is hosting a dinner for the Bahrain delegation. (dpa)
Investors urged to consider the humble chicken
Submitted by Sahil Nagpal on Tue, 06/03/2008 - 11:17.Singapore - The rocketing cost of food is providing an opportunity for investors to focus on the humble chicken, a Morgan Stanley report said Tuesday.
With grain prices soaring, beef and pork will increasingly become more costly compared to companies dealing with chicken processing, said the investment bank.
Producing a kilogram of chicken requires less grain than producing the same amount of beef, the report said. Chicken hatcheries also cause less pollution than cattle or pig farms.
Other firms in the poultry sector, such as equipment makers and vaccine providers, were also recommended.
Singapore, US sign agreement on civil aviation security
Submitted by Mohit Joshi on Tue, 06/03/2008 - 17:50.Singapore - Singapore became the first country in the Asia-Pacific region to sign an agreement aimed at enhancing cooperation in civil aviation security with the United States, the Transport Ministry said Tuesday.
"Civil aviation security is critical to the global civil aviation industry," a ministry's statement said.
The agreement was signed in Washington by Choi Shing Kwok, the ministry's permanent secretary, and Gale Rossides, deputy administrator for the Transport Security Administration of the US Department of Homeland Security.
It aims to boost cooperation in security policy, procedures and standards, technology, operations and technical expertise.
Asia-Pacific region offers opportunities to fund managers
Submitted by Mohit Joshi on Wed, 06/04/2008 - 13:40.Singapore - The Asia-Pacific region is presenting dramatic opportunities for the investment management industry while global markets face further turbulence on fears of recession, a report said Wednesday.
KPMG estimated that 21.1 per cent of the world's high net worth individuals are in the Asia-Pacific region, with much of the wealth held in unstructured assets, particularly real estate and bank deposits.
The report forecasts this rising level of wealth among the middle classes will be a key driver for the funds management industry.
Singapore polytechnic starting logistics course in China
Submitted by Sahil Nagpal on Thu, 06/05/2008 - 11:06.Singapore - A Singapore polytechnic is starting a diploma programme in logistics management in a partnership with Wuhan University of Science and Technology, a published report said on Thursday.
Ngee Ann Polytechnic's principal Chia Mia Chiang said the partnership with the prestigious university in China would help Ngee Ann expand its global presence.
The facility is exploring simiar partnerships with universities in other Chinese cities, as well as those in India and Vietnam.
Wuhan University's vice-president Ma Jihua told The Straits Times that 120 students would be recruited for the inaugural programme.
New medical tourism website brings competitors together
Submitted by Mohit Joshi on Thu, 06/05/2008 - 11:10.Singapore - A new medical tourism website has brought competitors from Singapore and Thailand together on a single platform, a published report said on Thursday.
Called FlyFreeForHealth, it has six healthcare partners on its list, including Thailand's Phyathai Hospitals Group.
"Given the US recession, and an increasingly inefficient healthcare system in Europe, the launch of FlyFreeFor Health is definitely well timed to meet the demands of these medical travellers," The Business Times quoted founder Wei Siang Yu as saying.
Accommodation service providers and spa operators are also on the list.
Singapore Airlines slammed for rodeo ad
Submitted by Mohit Joshi on Thu, 06/05/2008 - 14:24.Singapore -
An animal rights group Thursday named Singapore Airlines the recipient of its "Litterbox Award" for an advertisement that "stinks for animals."
The Asia-Pacific branch of People for the Ethnical Treatment of Animals (PETA) said the airline promoted cruel rodeos in an ad encouraging traveller to visit the US state of Texas.
The company had no immediate response.
Punj Lloyd Signs Collaboration Deal With ST Kinetics
Submitted by Shilpa Mahapatre on Thu, 06/05/2008 - 17:40.In order to make defence equipment, Gurgaon based Punj Lloyd, an
engineering, procurement and construction specialist, has signed up a collaboration contract with Singapore Technologies Kinetics.
However, the financial details of the deal were not disclosed up till now.
The Indian Government issued Punj Lloyd a license for making guns, rockets and missile artillery systems and related equipment in addition to other defence equipment.
Jetstar announces direct flights between Cambodia and Singapore
Submitted by Mohit Joshi on Thu, 06/05/2008 - 18:04.Phnom Penh - Singapore-based Jetstar Asia plans daily flights between Singapore and the Cambodian capital starting at the end of July, the company said in a press release Thursday.
The daily flights, some of which will also include the northern tourist hub of Siem Reap, home to the Angkor Wat temple complex, are scheduled to begin from July 28, the airline said.
Jetstar Asia is an offshoot of Australian Qantas' budget airline Jetstar Airways.
The company did not say how much tickets would cost for the new route. (dpa)
Liechtenstein bank expands Singapore operations
Submitted by Sahil Nagpal on Fri, 06/06/2008 - 14:02.Singapore - A private bank based in Liechtenstein plans to make Singapore a hub for its Asian operations, a published report said on Friday.
The VP Bank Group intends to increase its staff strength in the city-state from 12 to 26 in the next 12 months and is aiming to manage 5-billion-US-dollars worth of assets in Asia within five years, said Singapore managing director Reto Isenring.
The city-state was chosen as a hub because of its "business- friendly government and an attractive tax environment, a skilled workforce" and excellent infrastructure, The Straits Times quoted Isenring as saying.
Info-security service provider opens centres in Bangkok, Mumbai
Submitted by Sahil Nagpal on Mon, 06/09/2008 - 11:15.Singapore - An info-security service provider has extended its operations into Thailand and India in a drive to expand in the Asia-Pacific region, a published report said on Monday.
The Singapore-based e-Cop now has a Global Command Centre in Bangkok and a Global Resource Centre in Mumbai to provide monitoring and protection.
"Thai companies are looking at either managing security in-house or to outsource to a third party with the relevant expertise," The Business Times quoted chief executive Marcus Low as saying.
The Mumbai office "leverages on the vast pool of multi-talented IT professionals in India to enhance the company's synergy with partners," Low said.
Explosion on ship injures 15 foreign workers
Submitted by Mohit Joshi on Mon, 06/09/2008 - 11:22.
Singapore - An explosion rocked a Belize-registered ship in the final stages of repair at a Singapore dock, injuring 15 crew members and workers on board, officials said Monday.
On Sunday, a flash fire broke out in the 50-metre-long Rainbow Star, which had been berthed at Kreuz Shipbuilding & Engineering in Tuas Crescent for nearly three months.
A shipyard worker said he saw plumes of white and orange smoke after the explosion.
"I heard a very loud pong sound," the Chinese national told The Straits Times. "The whole boat was covered in smoke."
Singapore viewed as easiest place to do business in Asia
Submitted by Sahil Nagpal on Mon, 06/09/2008 - 14:47.Singapore - Singapore is considered the easiest place to do business in Asia, the US Commercial Service in the city-state said Monday.
US export data reflects Singapore's "important role as a major distribution centre, serving as the gateway to the region," the commercial service said on its website.
"Many of the US products imported into Singapore are eventually re-exported as finished and semi-finished products to other markets in South-east Asia and worldwide," it noted.
Singapore is the ninth-largest export market for manufactured goods from the US and its 15th largest trading partner.
Explosion on ship injures 15 foreign workers
Submitted by Sahil Nagpal on Mon, 06/09/2008 - 17:30.Singapore - An explosion rocked a Belize-registered ship in the final stages of repair at a Singapore dock, injuring 15 crew members and workers on board, officials said Monday.
A flash fire broke out Sunday in the 50-metre-long Rainbow Star, which had been berthed at Kreuz Shipbuilding & Engineering in Tuas Crescent for nearly three months.
Six workers suffered severe burns with four in intensive care. One suffered burns over 90 per cent of his body.
The other nine were treated for smoke inhalation.
The incident is under investigation.
A shipyard worker told The Straits Times that he saw plumes of white and orange smoke after the explosion.
Indian worker dies from shipyard explosion
Submitted by Sahil Nagpal on Tue, 06/10/2008 - 12:28.
Singapore - An Indian national who was severely burned in a shipyard explosion died in a Singapore hospital, officials said on Tuesday.
Karuppan Arjunan, 42, had suffered burns to 90 per cent of his body when the explosion and blaze rocked a Belize-registered ship being painted on Sunday.
He was one of 15 foreign shipyard workers and crewmen who were injured, but died on Monday at Singapore General Hospital.
The Tamil Nadu native, who had been working in Singapore for three years, was thinking about returning to India, a relative told The Straits Times.
Teams from 17 countries vie in multimedia search technology contest
Submitted by Mohit Joshi on Tue, 06/10/2008 - 12:29.Singapore - Fifty-six teams from 17 countries will compete in a next-generation multimedia search technology contest starting on Sunday, organizers said.
The team with the best designed search engine for trawling through multimedia data will take home 100,000 US dollars and intellectual property rights to its search engine, said the Agency for Science, Technology and Research on Tuesday.
Among those taking part in the competition are major laboratories from India, China, France, Japan, the United States and Singapore.
The agency is holding the contest to spur the development of multimedia search technology.
SingTel, Apple to bring latest iPhone to Singapore
Submitted by Mohit Joshi on Tue, 06/10/2008 - 13:46.Singapore - Singapore Telecommunications Limited will bring Apple Inc's highly anticipated third-generation iPhone to Singapore later this year, SingTel said on Tuesday.
"We are pleased that Apple has selected SingTel to be the first mobile operator in Singapore to launch its new iPhone 3G," Quek Peck Leng, executive vice president, said in a statement. He cited "strong synergy" between the core brand values of Apple and SingTel.
SingTel announced recently it would invest 220 million Singapore dollars (164 million US dollars) to upgrade its network. (dpa)
Singapore serviceman dies after training walk
Submitted by Sahil Nagpal on Tue, 06/10/2008 - 18:21.Singapore - A Singapore servicemen died on Tuesday after participating in a 2-kilometre walk that was part of a training activity, the defence ministry said.
"Andrew Cheah Wei Siong from the Basic Military Training Centre fainted" during the walk and was rushed to a medical centre, the ministry's statement said.
He was given immediate medical attention by doctors and then evacuated by helicopter to Singapore General Hospital.
Cheah was pronounced dead at the hospital. (dpa)
Taiwan Stock Exchange open to selling stake to Singapore Exchange
Submitted by Sahil Nagpal on Wed, 06/11/2008 - 10:57.
Singapore - Planning an initial public offering early next year, the Taiwan Stock Exchange (TWSE) is open to selling a stake to the Singapore Exchange (SGX).
"We are open to any possibility," TWSE chairman Wu Rong-I told a media briefing on Tuesday. "We can talk any time."
TWSE has already held talks with foreign exchanges including Borse Dubai and the New York Stock Exchange on its plans to sell a stake of up to 25 per cent to overseas bourses.
SGX to admit banks as clearing members
Submitted by Sahil Nagpal on Wed, 06/11/2008 - 16:01.Singapore - The Singapore Exchange (SGX) has amended rules to allow banks to be admitted as clearing members of its securities market starting next month, the SGX said on Wednesday.
The move will help widen the pool of market participants and increase its customer base, SGX said.
Approved banks will be able to offer clearing services to SGX trading members without having to incorporate a separate company to apply for clearing membership, the case in the past.
Non-clear participants will be able to save costs arising from clearing and settlement operations, SGX said. (dpa)
Singapore leaders praise late Vietnamese prime minister Vo Van Kiet
Submitted by Sahil Nagpal on Thu, 06/12/2008 - 11:14.Singapore -
Singapore's leaders praised former Vietnamese Prime Minister Vo Van Kiet for opening his country's economy to the world and liberalizing trade and investments.
Kiet, 85, died of acute pneumonia on Wednesday in a hospital in the city-state. His remains were returned to Ho Chi Minh City.
Middle Eastern ministers to attend water technologies forum
Submitted by Sahil Nagpal on Thu, 06/12/2008 - 13:51.Singapore - Government ministers from six Middle Eastern countries plan to meet providers of water management solutions from South-East Asia, India, China, Japan, Australia and Europe, organizers in Singapore Thursday.
The forum on June 25 is part of the city-state's International Water Week, a global platform from June 23 to June 27.
Ministers from Kuwait, Saudi Arabia, the United Arab Emirates, Qatar, Oman and Bahrain are scheduled to attend.
"The forum will put water solution providers in the same room as the people making key decisions on major water projects in the Middle East," said Michael Toh, general manager of International Water Week, an annual conference and trade show.
ASEAN workshop warned against overly ambitious human rights body
Submitted by Mohit Joshi on Thu, 06/12/2008 - 15:57.Singapore - Too much ambition could easily scuttle the establishment of an ASEAN human rights body, a workshop on forming the agency was warned Thursday.
"Let us have no illusions that the road ahead will be easy," Raymond Lim, Singapore's second minister for foreign affairs, said in outlining what lies ahead for the high-level panel that is to draft the "terms of reference" for the rights body on the sidelines of the Association of South-East Asian Nations (ASEAN) Minister Meeting in July.
Singapore's oldest retailer delists from exchange
Submitted by Mohit Joshi on Fri, 06/13/2008 - 13:13.Singapore - Robinson and Co Ltd, Singapore's oldest retailer, is to be delisted from the Singapore Exchange Monday after its takeover earlier this year by the Dubai-based Al-Futtaim Group, Robinson's said.
It applied for delisting on May 27.
The Al-Futtain Group has interests in automotive, consumer electronics, retail, construction, engineering, logistics, insurance and real estate. It also represents such leading brands as Ikea, Marks and Spencer and Chrysler in the Middle East.
The Robinson group has branched out into franchising foreign brands. (dpa)
Many well-off Singapore residents yet to start retirement savings
Submitted by Mohit Joshi on Sat, 06/14/2008 - 14:28.
Singapore - Nearly half of Singapore's affluent residents have yet to start saving for their retirement although they would like to stop working in their mid-50s, a poll said on Saturday.
Only 25 per cent were turning to professionals for advice, preferring their family and friends instead, said the findings emerging from the Zurich International Life (ZIL) Wealth Monitor and published in The Straits Times.
Environmental ad withdrawn from TV after viewers find it gruesome
Submitted by Sahil Nagpal on Sat, 06/14/2008 - 22:15.A television ad intended to jolt viewers to the impact of environmental destruction on future generations was taken off the air after complaints that a scene of a chainsaw cutting open a boy mannequin were too gruesome, the station said on Saturday.
Since MediaCorp started showing the "Saving Gaia" video on June 5, upset parents have written to newspapers and gone on internet forums describing the commercial as "distasteful," "scary" and "shocking." Several called the station urging the ad to be canned.
Gaia means Goddess of Earth in Greek and was part of MediaCorp's environmental awareness campaign.
Executive jailed for blowing company's money on gambling
Submitted by Sahil Nagpal on Sun, 06/15/2008 - 08:07.Singapore - An executive who siphoned 1.9 million Singapore dollars (1.4 million US dollars) from a company and lost it in casinos was jailed for seven years and six months, news reports said on Tuesday.
While under investigation for sprees in Malaysia's Genting Highlands and on cruise ships, Ng Ting Hwa, 32, lied to the Immigration & Checkpoint Authority (ICA) to obtain a new passport and promptly left the city-state, The Straits Times said.
A graduate of the University of London, the district court heard he started working at Molnlycke Health Care Asia-Pacific, a leading provider of medical products, in 2004.
Indian worker dies from shipyard explosion
Submitted by Mohit Joshi on Sun, 06/15/2008 - 08:13.Singapore - An Indian national who was severely burned in a shipyard explosion died in a Singapore hospital, officials said on Tuesday.
Karuppan Arjunan, 42, had suffered burns to 90 per cent of his body when the explosion and blaze rocked a Belize-registered ship being painted on Sunday.
He was one of 15 foreign shipyard workers and crewmen who were injured, but died on Monday at Singapore General Hospital.
The Tamil Nadu native, who had been working in Singapore for three years, was thinking about returning to India, a relative told The Straits Times.
The cause of the flash fire in the Belize-registered Rainbow Star has not been determined
Teams from 17 countries vie in multimedia search technology contest
Submitted by Sahil Nagpal on Sun, 06/15/2008 - 08:15.Singapore - Fifty-six teams from 17 countries will compete in a next-generation multimedia search technology contest starting on Sunday, organizers said.
The team with the best designed search engine for trawling through multimedia data will take home 100,000 US dollars and intellectual property rights to its search engine, said the Agency for Science, Technology and Research on Tuesday.
Among those taking part in the competition are major laboratories from India, China, France, Japan, the United States and Singapore.
The agency is holding the contest to spur the development of multimedia search technology.
More Filipinas claim they were lured to Singapore
Submitted by Sahil Nagpal on Mon, 06/16/2008 - 09:11.Singapore - Increasing numbers of women from the Philippines are turning to their embassy with claims that they were lured to Singapore with promises of good jobs, but ended up working as prostitutes, news reports said on Monday.
There were 212 cases last year, 125 in 2006 and 59 in 2005, The Straits Times said.
Of the 212 cases in 2007, only three women filed police reports resulting in convictions. None of the convictions were for human trafficking.
The numbers could be the tip of the iceberg, said Neal Imperial, the embassy's first secretary and consul. Many women may be reluctant to come forward for fear of being viewed as violators of immigration or labour laws, rather than victims.
Jett8 cargo airline gearing up for expansion
Submitted by Sahil Nagpal on Mon, 06/16/2008 - 11:00.Singapore -
Jett8 Airlines Cargo, Singapore's first privately-owned cargo carrier, is gearing up to increase its services with two new aircraft, a newspaper reported on Monday.
The expansion comes as soaring fuel prices force other carriers to cut capacity and in some cases, cease operation, The Straits Times said.
Jett8 currently operates two services, one between Singapore and Hong Kong and the other connects Singapore to Dubai, Manchester and Luxembourg.
The service will be increased to five in the first week of July, chief executive Louis Tan told the newspaper.
Asia-Pacific CEOs ahead of peers on corporate social responsibility
Submitted by Mohit Joshi on Mon, 06/16/2008 - 11:27.Singapore - Chief executive officers (CEOs) in the Asia-Pacific region are ahead of their counterparts elsewhere when it comes to embracing corporate social responsibility, a survey report said on Monday.
"CEOs in the Americas are beginning to show more interest, but focus is increasingly faster among European CEOs," said the IBM survey report, The Enterprise of the Future.
The "Asia-Pacific actually showed the most dramatic increase, with attention nearly tripling since 2004," it noted.
Corporate social responsibility includes the environment, social issues such as child labour and political concerns including human rights as part of business.
Singapore's employment and jobless rates up in first quarter
Submitted by Mohit Joshi on Mon, 06/16/2008 - 14:17.Singapore - Employment in Singapore grew by a record 73,200 in the first quarter of this year driven by growth in the construction and manufacturing sectors, the manpower ministry said on Monday.
Unemployment also rose from a seasonally adjusted 1.7 per cent in the last quarter of 2007 to 2 per cent in the three months ending in March, still lower than a year ago when the rate was 2.8 per cent.
The ministry attributed the higher unemployment rate to "an uncertain outlook and more cautious sentiments."
Total employment compared to 62,500 in the fourth quarter of last year and 49,400 in the first three months, the report said.
ST Electronics wins taxi contract in UAE
Submitted by Mohit Joshi on Tue, 06/17/2008 - 12:18.Singapore -
The electronics arm of Singapore Technologies Engineering has won an 8-million-US-dollar contract to provide an advanced taxi despatch and management system in the United Arab Emirates, ST Electronics said on Tuesday.
The contract is for the Sharjah Public Transport Corp, St Electronics' first taxi management system project in the UAE.
It is based on St Electronics' automated system which integrates information communication technology, including wireless technology, automated booking and intelligent data mining for despatching taxis.
Asia's premier communications trade shows open
Submitted by Mohit Joshi on Tue, 06/17/2008 - 16:11.Singapore - Asia's premier trade shows for the information-communication and media industries opened Tuesday with more than 2,300 firms from 65 countries showcasing their technological developments in the hopes of clinching slices of an estimated 4.8 billion US dollars in deals.
"We are meeting amidst an uncertain global business outlook resulting from high oil prices and upheavals in the financial sector," Lee Boon Yang, Singapore's minister for information, communications and the arts, said in kicking off the four-day CommunicAsia and Broadcast Asia trade shows.
The demand for high-speed internet and higher bandwidth would continue, he predicted.
Myanmar's Cyclone Nargis posed crucial test for ASEAN
Submitted by Sahil Nagpal on Wed, 06/18/2008 - 14:44.Singapore - A new Association of South-East Asian Nations (ASEAN) has emerged from its achievements in cyclone-swept Myanmar, showing the world that the regional body is able to "rise to the occasion," Secretary-General Surin Pitsuwan said on Wednesday.
"We are being baptized by Cyclone Nargis," he told the 5th ASEAN Leadership Forum in Singapore.
It has been more than six weeks since the cyclone hit leaving a trail of devastation followed by three weeks of international outrage as the military junta obstructed foreign aid and volunteers.
SIA, SilkAir fuel surcharges increase for third time this year
Submitted by Sahil Nagpal on Thu, 06/19/2008 - 11:05.Singapore - Fuel surcharges for passengers on Singapore Airlines (SIA) and SilkAir will go up on Tuesday in the second hike in a month and the third this year resulting from soaring jet fuel prices.
Long-haul flights to the United States and Canada are the worst hit. The new surcharge for round-trip flights is 360 US dollars, an increase of 60 US dollars, SIA said.
Passengers will pay 80 US dollars for the surcharge on a round- trip ticket on regional routes to South-East Asian countries, a 10- US-dollar increase.
All others will fork over 220 US dollars for a round-trip flight, up 30 US dollars.
SIA blamed the surcharges on the escalating jet fuel price, now over 160 US dollars per barrel.
Two Indian workers killed working below ship's deck
Submitted by Mohit Joshi on Thu, 06/19/2008 - 11:13.Singapore - Two Indian nationals working below a ship's deck were killed in what Singapore officials believe to be a case of gas poisoning, news reports said on Thursday.
Five other workers were hospitalized and in stable condition.
All seven Indian nationals working below the deck of the Pacific Ataawhai in a Singapore dry dock on Wednesday found themselves gasping for breath, The Straits Times said.
The two who died, aged 21 and 25, were believed to have suffocated.
It was the second shipyard tragedy in less than a month. A 42- year-old Indian worker died on June 9 after he was severely burned in an explosion aboard a vessel being painted at a nearby shipyard.
Foreign capital seen flowing into Asian real estate
Submitted by Sahil Nagpal on Thu, 06/19/2008 - 14:29.Singapore - The inflow of capital into Asia's real estate market is accelerating on longer-term investments coming off of a prolonged period of steady growth, a report said on Thursday.
Returns in the region are forecast to remain higher than the global average for the coming year, said the report compiled by KPMG, the FTSE group and the Asian Public Real Estate Association.
Japan continues to be viewed as an attractive market for the lower-risk investor, the report said. China is also producing attractive returns.
The slowdown in the US and European markets is unlikely to cause an immediate negative impact on Asia this year, the report said.
Singapore and Saudi Arabian airlines boost cooperation
Submitted by Mohit Joshi on Thu, 06/19/2008 - 17:11.Singapore - Saudi Arabian Airlines and Singapore Airlines signed a pact Thursday aimed at developing routes between the two countries and improving efficiency.
The two carriers also agreed to work together to support their respective civil aviation authorities, "opening up more opportunities for the two airlines to build on the demand for travel between, and beyond, Saudi Arabia and Singapore," a joint statement said.
The non-binding pact signed in Singapore includes market cooperation, code-share arrangements, schedule coordination and cargo facilitation. It excludes cooperation in setting individual ticket fares or cargo rates. (dpa)
Banks in four South-East Asian countries face volatile times
Submitted by Mohit Joshi on Fri, 06/20/2008 - 11:08.Singapore -
Four South-East Asian countries face a negative industry outlook for their banking systems amid the global economic slowdown and rising inflation, said Moody's Investor Service in a report issued Friday.
Singapore, Malaysia, Indonesia and Vietnam are in for volatile times, said the annual Asia Banking Outlook.
Bank asset quality may deteriorate across the region, said Thomas Byrne, a senior vice president.
He noted that South-East Asian banks have not been directly affected by the spread of the US credit crunch.
Rubbish cushions worker's 15-metre fall at incinerator plant
Submitted by Mohit Joshi on Fri, 06/20/2008 - 11:18.Singapore - A pile of rubbish cushioned the 15-metre fall of a worker at an incinerator plant in Singapore's third industrial accident this month, news reports said Friday.
The victim, who suffered a fractured leg, was hauled to safety by Civil Defence Force paramedics who were lowered into the hall where garbage is dumped before it is incinerated, The Straits Times said.
It is believed the worker, in his 40s, escaped more serious injury on Thursday because he landed on the rubbish. The waste collector was taken to the National University Hospital for treatment.
Singapore building consultancies win more deals from China, India
Submitted by Mohit Joshi on Fri, 06/20/2008 - 14:39.Singapore - Singapore construction consultancies clinched 406 overseas projects last year with China in the top spot followed by India, a Building and Construction Authority survey released Friday said.
The total was up from 360 in 2006.
China emerged as the largest overseas market with 137 projects, the authority said. India secured 90 contracts. Vietnam and Malaysia remained attractive along with the United Arab Emirates and Saudi Arabia.
The most sought-after services were architectural and master planning.
The Middle East was the leading market for Singapore construction exports at 1.7 billion Singapore dollars (1.2 billion US dollars) in deals signed compared with 200 million Singapore dollars in China. (dpa)
Rising inflation triggers foreign fund flight out of Asian shares
Submitted by Sahil Nagpal on Sat, 06/21/2008 - 16:38.Singapore - UN Secretary General Ban Ki-moon had warned Wednesday that repeated acts of intimidation and arrests of opposition leaders would make Zimbabwe's runoff presidential elections less credible unless Harare puts a stop to them,
Ban, addressing ambassadors to the UN at a closed-door session in New York, criticized strongly the political atmosphere while Zimbabwe prepares for runoff elections on June 27.
"The current violence, intimidation and the arrest of opposition leaders are not conducive to credible elections," Ban said. "Should these conditions continue to prevail, the legitimacy of the election outcome would be in question."
Young Singapore adults sinking deeper into debt
Submitted by Sahil Nagpal on Sun, 06/22/2008 - 15:11.
Singapore - Young employed adults below 30 are Singapore's fastest-growing group of debtors, a published report said on Sunday.
On average, they owe 55,000 Singapore dollars (41,000 US dollars) to about seven creditors, according to Credit Counselling Singapore (CCS).
The under-30s made up 13 per cent of all cases handled by the non-profit group last year, up from 9 per cent in 2006, said the findings in The Sunday Times. During the first three months of this year, the under-30s mired in debt climbed to 15 per cent.
WHO report: Polluted water kills 4,000 people daily
Submitted by Mohit Joshi on Mon, 06/23/2008 - 11:06.Singapore - Polluted drinking water will kill around 1.6 million people this year unless governments make a concerted effort to clean up their supplies, a World Health Organization (WHO) official warned in a report published Monday.
More than 4,000 people die every day from water-borne diseases, said Dr James Bertram, coordinator of WHO's Water, Sanitation and Health Programme. The death toll is not confined to developing nations.
"It's a problem plaguing all countries, developed and undeveloped," The Straits times quoted Bertram as saying ahead of Singapore's International Water Week, which starts Tuesday.
Governments must anticipate long-term water shortages caused by rising demand and climate change, he said.
ASEAN coal equities forecast to rally
Submitted by Sahil Nagpal on Mon, 06/23/2008 - 12:08.Singapore - Coal equities in Association of South-East Asian Nations (ASEAN) countries are forecast to outperform the broader marker longer than expected, a Goldman Sachs report said on Monday.
Robust demand from emerging markets, supply constraints and coal's relative attractiveness to oil were cited as the basis for further upsides in thermal spot prices in 2008 and 2009.
"We believe that the positive coal fundamentals and improved pricing in the export and domestic markets have placed ASEAN coal companies on the cusp of an earnings acceleration cycle," the report said.
Indonesian coal producers are expected to be the major beneficiaries of the thermal coal price rally with 74 per cent of their coal production for export.
India, Singapore IPR cooperation likely to be signed soon
Submitted by Sahil Nagpal on Mon, 06/23/2008 - 23:51.
New Delhi, June 23 : Union Minister of Commerce and Industry Kamal Nath on Monday stated that a bilateral agreement on Intellectual Property Rights (IPR) cooperation between the intellectual property offices of India and Singapore will be signed shortly.
Foreigners producing badly needed babies in Singapore
Submitted by Mohit Joshi on Wed, 06/25/2008 - 10:54.
Singapore - Foreigners are playing a significant role in producing babies amid Singapore's drive to boost its population, official data said on Wednesday.
A total of 16,232 babies were born in the first five months of this year, an increase of 849 over the corresponding period last year.
Non-Singaporean fathers accounted for 25 per cent, or slightly more than 4,000, according to figures published in The Straits Times from the Immigration and Checkpoints Authority's Registry of Births and Deaths.
Non-Singaporeaan mothers accounted for 36 per cent.
Singapore in multilateral air combat exercise in Australia
Submitted by Sahil Nagpal on Wed, 06/25/2008 - 14:12.Singapore - Singapore is taking part in a multilateral air combat exercise involving 3,000 personnel from its air force as well as Thai, French, Australian, Malaysian, US and NATO personnel, the defence ministry said on Wednesday.
Codenamed "Exercise Pitch Black 08," 60 aircraft from the participating countries are involved in the large-scale training that started in Darwin, Australia On June 6 and wraps up on June 27.
The Republic of Singapore Air Force (RSAF) has deployed 394 personnel along with "fighter, transport, and surveillance aircraft as well as air defect weapon systems," the ministry's statement said.
Asian cities reeling amid unprecedented influx of people
Submitted by Sahil Nagpal on Wed, 06/25/2008 - 16:56.Singapore - Providing jobs and services for the 1.1 billion people expected to move to Asia's cities over the next 20 years is a task of a magnitude "never before attempted by humanity," Asian Development Board (ADB) President Haruhiko Kuroda warned on Wednesday.
Asian cities are growing by more than 100,000 people a day, he told the World Cities Summit in Singapore.
The cities need increased investment in sustainable infrastructure, "which will only come through more appropriate and relevant financing options," Kuroda said.
A 3-billion-dollar shortfall in urban infrastructure investment is recorded every year, he said, resulting in greater deterioration.
Singapore and UAE sign pact on environment and water cooperation
Submitted by Sahil Nagpal on Wed, 06/25/2008 - 20:24.Singapore - Singapore and the United Arab Emirates (UAE) signed a pact on Wednesday to strengthen collaboration in sustainable development and water research.
Yacoob Ibrahim, Singapore's minister for the environment, and his UAE counterpart Rashid Ahmad Bin Fahad inked the pact at a forum held in conjunction with international water week in the city-state.
Both sides "have agreed to collaborate in environmental protection and sustainable development, water research ... capacity building and raising environmental awareness," a government statement said.
A joint working committee will be set up to look into specific projects and report to ministers at least once a year on progress, it said. (dpa)
Lee Kuan Yew: One freak election will ruin Singapore
Submitted by Sahil Nagpal on Thu, 06/26/2008 - 10:51.Singapore - One freak election result is all it would take to wipe out Singapore's success in building up the city-state, Minister Mentor Lee Kuan Yew warned Wednesday night.
It could happen if voters became bored and decided to give the "vociferous opposition" a chance - out of "light-heartedness, fickleness or sheer madness," Lee told 650 participants in the World Cities Summit and International Water Week.
Singapore PC penetration likely to be tops in Asia-Pacific by 2012
Submitted by Sahil Nagpal on Thu, 06/26/2008 - 15:37.Singapore - Singapore is forecast to have the highest number of personal computers (PCs) per 1,000 people in the Asia-Pacific region by 2012, an information-technology research firm said Friday.
Gartner Inc projected the city-state would have 4.5 million installed desktop and laptop PCs, or 948 for every 1,000 individuals.
Australia was forecast to trail Singapore with 888 PCs per 1,000 people, and Hong Kong was next with 793.
The country with the highest PC penetration in the Asia-Pacific this year is Australia, expected to have 776 PCs per 1,000 people by the end of the year. Singapore was likely to emerge second in the region with 707 PCs per 1,000 people, Gartner said.
Singapore opposition leader on trial for illegal public speaking
Submitted by Mohit Joshi on Thu, 06/26/2008 - 22:05.Singapore - Singapore's most vocal opposition leader and a supporter will go on trial again July 14 for speaking in public without a permit, the third time the pair face a judge since the run-up to the 2006 general elections.
Chee Soon Juan's lawyer, Chia Ti Lik, said Thursday that the trial of Chee and party supporter Yap Keng Ho will involve only one of six charges. The other five are pending.
The district court has set aside up to four weeks for the trial.
Chee and Yap initially faced eight counts each of illegally addressing a crowd. Two have been dealt with.
Yap served a 10-day jail term two weeks ago. Chee, who was given a 5,000-Singapore-dollar (3,731-US-dollar) fine, is appealing the conviction.
Record pump prices put brakes on Singapore's budget car sales
Submitted by Sahil Nagpal on Fri, 06/27/2008 - 16:09.Singapore - Record petrol prices have hit budget car sales the hardest, with monthly pump prices beginning to match loan instalment payments for some models, published trade figures said Friday.
Sharp drops in sales of 50 per cent or more hit Chevrolet, Hyundai, Kia and Ford, The Straits Times said. Chinese brands are also reeling.
Models priced below 60,000 Singapore dollars (44,776 US dollars) were the worst hit.
"Budget cars are bought by budget buyers," Paul Ng, general manager of Vertex Automobile, was quoted as saying. Vertex distributes China's Chery. "With inflation so high, these people would want to take care of necessities rather than spend on big- ticket items."
Two Indonesian men convicted of organ trading
Submitted by Sahil Nagpal on Sat, 06/28/2008 - 00:40.Singapore - Two Indonesian men were convicted of organ trading Friday by a Singapore court.
The pair were due to be sentenced next week, a Ministry of Health statement said.
Each pleaded guilty to a charge of organ trading and making a false declaration.
Organ trading often involves the exploitation of "poor and socially disadvantaged donors who are unable to make an informed medical choice and suffer potential medical risks," the ministry's statement said.
The Indonesians face a penalty of up to 12 months in prison or a fine of 10,000 Singapore dollars (7,462 US dollars) or both. (dpa)
Fly research could help hone military spy-ware
Submitted by Sahil Nagpal on Sat, 06/28/2008 - 20:10.Singapore - A tiny fly that feeds on frog blood could help hone sophisticated military spy-ware in the future, according to a report published Saturday.
The 2-millimetre fly discovered by a National University of Singapore postgraduate researcher feeds on the blood of a tree-dwelling frog which lives in regional forests.
"Despite its size, it manages to hear in stereo to locate the frog call in the cacophony of the forest," the Straits Times quoted Gwyne Lim as saying.
"If we find out how it does this, it could have applications for generating better hearing aids for military surveillance systems," she noted.
SIA takes delivery of fifth A380
Submitted by Mohit Joshi on Sat, 06/28/2008 - 20:12.Singapore - The delivery of the fifth superjumbo to Singapore Airlines (SIA) has paved the way for additional services to London and special flights to Beijing during the Olympics, the carrier said Saturday in Singapore.
The A380, the world's largest passenger aircraft, was turned over to SIA on Saturday at the Airbus delivery centre in Toulouse, France and scheduled to arrive in the city-state on Sunday.
SIA is upgrading more of its B747-400s to A380s on the Singapore to London route and back. In addition to the A380 daily service, another superjumbo flight to Heathrow will start next month on Mondays, Wednesdays, Fridays and Sundays, the SIA statement said.
Dragonflies may provide alert system for water pollution
Submitted by Sahil Nagpal on Sun, 06/29/2008 - 14:52.
Singapore - Dragonfly young could soon be the aquatic version of the canary in a coalmine, a researcher said in a published report on Sunday.
Just as the singing birds were used by miners to warn them of toxic air, young dragonflies that live in reservoirs and ponds hold the potential of alerting humans to water pollution, The Straits Times said.
Hong Kong tax systems seen as fairest
Submitted by Mohit Joshi on Mon, 06/30/2008 - 11:23.Singapore - Hong Kong is seen as having the fairest and most transparent tax system out of six major developed economies, followed by Singapore, a study said on Monday.
Canada emerged third, while the United States, Australia and Britain rounded out the six, said the study by the Association of Chartered Certified Accountants (ACCA).
Respondents ranked the various tax systems according to how fair they were relative to one another, looking at simplicity, transparency and the burden of each regime.
Respondents in Hong Kong and Singapore had an overall positive view of fairness, while respondents in Britain, Australia and Canada felt their systems were less fair and somewhat complex.
Singapore's first Water Week sees deals worth more than 270 million
Submitted by Mohit Joshi on Mon, 06/30/2008 - 18:03.
Singapore- Water authorities and firms from India, Japan, the Middle East, Europe, the United States and Singapore signed 27 agreements totalling more than 270 million US dollars during the city-state's first Water Week, organizers said on Monday.
A water fund was also launched to attract 320 million US dollars in investments in Asian water projects.
Among the deals was one worth an estimated 200 million US dollars over the next three years for Singapore-based Ayser-Technische Corporation and Acuatico to design and operate private water infrastructure projects in Indonesia.
Asian IT managers favour technology reducing capital expenditures
Submitted by Sahil Nagpal on Mon, 06/30/2008 - 21:08.
Singapore - Asian information technology (IT) managers consider technology that can increase IT utilization rates of computers and storage hardware as exerting the biggest influence on their industries, a published survey said on Monday.
Called virtualization, it allows businesses to reduce their capital expenditures, said research firm IDC.
IDC polled 427 IT managers. Virtualization was picked by 27 per cent of respondents as the most influential technology, said the findings published in The Business Times.
Asia's exhibition industry forecast to slow
Submitted by Mohit Joshi on Tue, 07/01/2008 - 14:24.Singapore - Asia is likely to host more trade fairs, but the growth of the region's exhibition industry is expected to slow amid fierce regional competition, a newspaper's report said Tuesday.
Exhibition space in the region expanded 86 per cent between 2000 and 2005 and is forecast to increase 20 per cent between 2006 and 2010.
A study by market intelligence firm Business Strategies Group put the revenue from trade fairs last year in Asia at 3.25 billion US dollars, up from 2.57 billion US dollars in
2006.
China remained the front-runner in terms of space sold last year, up 21 per cent over 2006, according to data in The Business Times. India grew the fastest, expanding 50 per cent.
Singapore Airlines signs sale and leaseback deal
Submitted by Sahil Nagpal on Tue, 07/01/2008 - 17:21.Singapore - Singapore Airlines (SIA) has signed a sale and leaseback deal on five of its Boeing 777 aircraft, the carrier said on Tuesday.
The aircraft will be sold to Pembroke Group Ltd, a subsidiary of Standard Chartered Bank, and then leased back to SIA under the agreement.
The financial details were not disclosed. (dpa)
Singapore's wage gap acute among older and lower-skilled workers
Submitted by Sahil Nagpal on Tue, 07/01/2008 - 18:02.
Singapore - The wage gap in Singapore is particularly acute among older and lower-skilled workers, a report on wages said Tuesday.
Managers in their 40s are making top dollar with those between 40 and 44 earning nearly double the amount of managers aged 25 to 29, the Manpower Ministry's report said.
Going by the national median, a manager in the finance industry earned about 9,200 Singapore dollars (6,764 US dollars) in gross monthly wages.
Lewd slogans promoting matchmaking service axed from newspapers
Submitted by Mohit Joshi on Wed, 07/02/2008 - 10:58.Singapore - Lewd slogans and suggestive pictures used to promote matchmaking services are being axed from Singapore's newspapers and magazines, authorities said Wednesday.
Following several complaints, the Advertizing Standards Authority said the tightened rules aimed at removing the sleaze in dating promotions will go into effect in March.
Dating ads must be in text, cannot guarantee marriages and are restricted to the classified sections of newspapers and magazines.
Agencies accredited by the Ministry of Community Development, Youth and Sports can still run ads with pictures under the guidelines.
The organization said it is promoting "truthful, decent, honest and legal advertising" in the city-state. (dpa)
Asia-Pacific's direct investments in United States soar
Submitted by Sahil Nagpal on Wed, 07/02/2008 - 14:26.Singapore - Direct investments in the United States from Asia-Pacific companies looking to acquire or set up businesses overseas have surged, with Australia in the lead, published US Department of Commerce figures said on Wednesday.
The region's direct investments more than doubled from 15.7 billion US dollars in 2006 to 36.9 billion US dollars last year.
"Outlays by investors from Australia, Singapore and (South) Korea increased significantly," said the department's report published in The Business Times.
Australia's investments nearly tripled to 15.2 billion US dollars and were primarily directed at the real estate and rental and leasing industry.
Champion eaters to compete in Singapore
Submitted by Mohit Joshi on Wed, 07/02/2008 - 18:03.Singapore- Champion eaters from the United States and Japan will take on a Singaporean gobbler during a food festival, organizers said Wednesday.
Joey Chestnut, the 24-year-old top-rated Major League Eating competitor, is the ranking champion. He beat rival Takeru Kobayashi, 30, at an annual hotdog-consuming competition in the US, ending Kobayashi's six-year reign.
Eating competitions are rare in the city-state, where a 20-year-old man died in 1989 after choking while participating in a moon cake eating contest.
Major League Eating is a US sports franchise that oversees professional competitive eating events.
Wildlife groups call for Asian effort to save pangolins
Submitted by Sahil Nagpal on Thu, 07/03/2008 - 13:15.Singapore - Wildlife groups fear the pangolin, once common across Asia, is being systematically wiped out and could become extinct unless governments do more to stop poaching, they said in a published report on Thursday.
Citing China's appetite for exotic meats, Chris Shepherd, senior programme officer with Traffic South-East Asia, said the mammals "could become extinct at any time because captive breeding is impossible."
"They are one of the most heavily traded species in Asia despite a complete ban," The Straits Times quoted Shepherd as saying.
Pangolins are anteaters with small heads and long, broad tails. Scales cover their skins.
New index to help average investors
Submitted by Sahil Nagpal on Thu, 07/03/2008 - 16:20.Singapore - Average investors will soon have a new index providing more information on which to base decisions regarding 700 companies on the Singapore Exchange, organizers said Thursday.
The index will be compiled by the centre for investor and corporate responsibility, one of four centres within the new Sim Kee Boon Institute for Financial Economics.
It will provide a ranking similar to credit ratings, said Associate Professor Jeremy Goh, one of the centre's co-directors.
Using publicly available information, Goh said, "We will evaluate companies on components such as disclosure and transparency, role of stakeholders, treatment of minority shareholders and the rights of such shareholders."
US-based DigiPen opens game school in Singapore
Submitted by Mohit Joshi on Fri, 07/04/2008 - 23:59.Singapore - Game development school DigiPen opened a campus in Singapore Friday, its first outside the United States.
"As the first top foreign institution in Singapore offering courses in games and animation, DigiPen Singapore will play an integral role in addressing the digital media industry's manpower capabilities needs," said Minister for Trade and Industry Lim Hng Klang.
The school is offering two bachelor degrees in game development to 40 students starting in September.
The Singapore campus of the DigiPen Institute of Technology is planning for 570 students in five years, 40 per cent of whom will come from overseas.
Singapore's first zero-energy building to be completed next year
Submitted by Mohit Joshi on Sat, 07/05/2008 - 10:59.Singapore - Renovations to a research institute will turn the facility into Singapore's first zero-energy building, news reports said on Saturday.
Officials plan to cover the government-run BCA Academy with half a football field's worth of solar panels.
"Hopefully, with a little help from heaven, there won't be too many rainy days," The Straits Times quoted National University of Singapore Professor Lee Siew Eang as saying.
The ultra-efficient institute is scheduled for completion next year, at the forefront of a drive to reduce power consumption and cut greenhouse gas emissions in the city-state.
Sailing trainee who fell overboard missing after massive search
Submitted by Sahil Nagpal on Sat, 07/05/2008 - 11:04.Singapore - Hopes dimmed Saturday for finding a sailing trainee alive who fell off his vessel without a life jacket into choppy seas off Singapore.
Ten boats from the Police Coast Guard and Navy divers have been searching for Indonesian native Levin Angsana who fell into the water on Thursday while trying to retrieve the boat's sail.
Crewmate Renfred Ray, 23, jumped in and managed to grab him, but Angsana apparently kept struggling, The Straits Times said. When Tay tried to grab a life jacket a short distance away, Angsana went under.
There were several life jackets on board, the report said. "Water has no mercy," National Water Safety Council chairman Teo Ho Pin was quoted as saying.
Singapore firm buys 25% in Reid & Taylor for Rs 9 bn
Submitted by Keshav Seth on Sat, 07/05/2008 - 17:36.Singapore based GIC Special Investment has bought 25.4% equity stake in Reid & Taylor.
The equity stake was purchased for Rs 9 billion out of which Rs 7.4 billion would be received as an equity at the commencement of transactions. GIC Special Investments (GIC SI) would invest Rs 900 crore in Reid & Taylor through a fresh issue of shares and warrants.
The sold off 25.4% shares were valued at Rs35.4 billion while remaining 76.4% will be held by S.Kumars. These are valued at Rs 26.4 billion. RTIL equity shares would be issued at Rs695.18 to GIC SI.
Fast growth seen for Asia-Pacific entertainment, media markets
Submitted by Mohit Joshi on Mon, 07/07/2008 - 11:15.Singapore - The entertainment and media (E&M) market in the Asia-Pacific region is forecast to grow quickly over the next five years particularly in China and India, a published study said Monday.
The PricewaterhouseCooper (PwC) Global Entertainment and Media Outlook for 2008-12 underscored the direction.
The Asia-Pacific will continue to be one of the fastest growing regions.
The compound annual growth rate "is set to outpace expansion of the global E&M market at 8.8 per cent, increasing from 333 billion US dollars in 2007 to 508 billion US dollars in 2012," PwC's Asia- Pacific technology industry leader Greg Unsworth was quoted as saying.
Sealing air vents raises ire of elderly block dwellers
Submitted by Mohit Joshi on Mon, 07/07/2008 - 11:19.Singapore - The sealing off of air vents along the corridors of nine housing blocks has raised the ire of residents who were not consulted and are unhappy about less light and air entering their government flats, news reports said Monday.
The Housing Development Board said the move was aimed at preventing fires from spreading. Fifteen more blocks have been earmarked for the change.
Elderly residents told The Straits Times that they fear shouts for help would go unheard.
"If we die inside, nobody will know," 69-year-old Ee Mai Lan was quoted as saying, noting that even the smell of a decomposing corpse would go undetected.
New top 20 China stocks index launched in Singapore
Submitted by Mohit Joshi on Mon, 07/07/2008 - 13:37.Singapore - A new tradeable index of the 20 biggest Chinese companies on the Singapore Exchange (SGX) was launched on Monday.
The FTSE ST China Top Index was created in partnership with Singapore Press Holdings and the FTSE group "in response to demand from institutional investors and fund managers in China and around the world," said Ignatius Low, money editor of The Straits Times newspaper.
The index will give them "instant exposure to a smaller, readily tradable basket of highly liquid Singapore-listed China stocks," he said.
One in four Asian banks hit by online scam attempts, study says
Submitted by Mohit Joshi on Mon, 07/07/2008 - 18:36.Singapore - More than 25 per cent of banks in the Asia-Pacific region have been hit by attempts to steal online information over the last 12 months, but beefing up security is still not viewed as a prime concern, a study said on Monday.
The survey by security software specialist ReadiMinds was conducted by Web and telephone polls across 11 economies including Malaysia, Hong Kong, Bangladesh, Vietnam, Cambodia and Singapore.
In such internet scams, crooks typically pose as the websites of financial institutions and attempt to "phish" for information including user names and online banking passwords, the study said.
Islamic Bank of Asia launches risk-management projects
Submitted by Sahil Nagpal on Tue, 07/08/2008 - 10:57.Singapore - The Islamic Bank of Asia (IB Asia) has launched two risk-management products to help companies manage their liability risks and limit their exposure to fluctuating funding costs, a published report said Tuesday.
The products include a profit rate swap structure for customers to manage their liability risks, and a foreign exchange forward purchase contract to help clients capitalize on currency market movements.
"These new structures can cut traditional transaction costs by as much as half," The Business Times quoted Kareem Hussaini, IB Asia's vice-president of product development, as saying.
Taiwanese band delights Singapore airport passengers
Submitted by Mohit Joshi on Tue, 07/08/2008 - 18:31.Singapore - Pop band F. I. R. delighted passengers at Singapore's Changi Airport on Tuesday with a special appearance prior to heading to China.
The Taiwanese trio, popular in Asia, gave away giant autographed posters and answered questions in the departure-transit mall.
The initials stand for the first names of the three - female vocalist Faye Zhan, keyboard player Ian Chen and guitarist Real Huang.
The band initially caught the attention of Asian audiences in 2004 with their hit Lydia, the theme song for the Taiwanese drama The Outsiders.
Sovereign wealth funds seek voluntary guidelines to allay fears
Submitted by Sahil Nagpal on Wed, 07/09/2008 - 13:26.Singapore - Representatives of sovereign wealth funds (SWFs) met in Singapore on Wednesday in a bid to make further progress on voluntary guidelines that would allay European and US fears of political interference.
A set of generally accepted principles and practices are under deliberation with the aim of promoting "a clearer understanding of the institutional framework, governance, and investment operations of SWFs that would support the maintenance of an open and stable investment climate," a statement by the SWF's International Working Group
(IWG) said.
The second working session of the 23-member IWG, which was formed in May, is seeking to formulate a code of ethics that could be formalized by October.
Singapore launching mercantile exchange
Submitted by Mohit Joshi on Wed, 07/09/2008 - 17:05.Singapore - Singapore is launching a mercantile exchange to facilitate the trading of commodity derivatives in the Asia time zone, a financial market conference was told on Wednesday.
The Singapore Mercantile Exchange (SMX) will offer trading in metals, base metals, energy, agricultural goods, currency pairs, carbon credits and commodity indices, said Ministry of Trade and Industry Lim Hng Kiang.
It will be the first in Asia to offer such a diversified range of products on a single platform, analysts said.
SMX is backed by India-based Financial Technologies.
Lim said the involvement of Financial Technologies, which operates seven exchanges, "underscores Singapore's position as a key commodities trading hub."
Singapore economy grows at slower-than-expected pace
Submitted by Mohit Joshi on Thu, 07/10/2008 - 11:18.Singapore - Singapore's economy grew at a slower-than- expected pace in the second quarter as manufacturers cut production amid a decline in demand, Trade Ministry data said Thursday.
Gross domestic product rose an estimated 1.9 per cent on a year- on-year basis in the three months ending in June, after expanding by a revised 6.9 per cent in the first three months of 2008.
"The slowdown chiefly reflected a sharp contraction in biomedical manufacturing output," the ministry said.
The economy shank an annualized 6.6 per cent during the three months.
The manufacturing sector contracted 5.6 per cent during the quarter from a year earlier, with electronics exports declining for 17 months.
Sovereign wealth funds make progress in easing fears
Submitted by Mohit Joshi on Thu, 07/10/2008 - 22:36.Singapore - Representatives of sovereign wealth funds (SWFs) made progress toward voluntary guidelines aimed at easing fears of political interference, but details of such touchy issues as transparency are still to be finalized, the co-chairman of the gathering said on Thursday.
"This is a work in progress," said Hamad al Suwaidi, undersecretary of the Abu Dhabi Department of Finance, after the two-day working session of the SWG's International Working Group in Singapore.
He was optimistic the set of guidelines would be finished by September this year. "I don't think anything is holding us up," he told a telephone conference call with the media.
Accounting graduates aim for Big Four firms
Submitted by Sahil Nagpal on Fri, 07/11/2008 - 14:47.Singapore - Accounting graduates in Singapore set their sights on the Big Four accounting firms, a study of the profession said on Friday.
Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers have considerably less trouble attracting new hires than the medium-size or smaller counterparts.
Each year about 1,000 new accounting professionals graduate from universities in the city-state. Sixty-one per said they wanted to work for or join one of the Big Four, according to the findings of the Accounting and Corporate Regulatory Authority (ACRA).
The medium-sized and smaller outfits have been relegated to look elsewhere or hire those with alternative forms of qualifications.
Singapore's Lee Kuan Yew cites conspiracy "to do us in"
Submitted by Sahil Nagpal on Sat, 07/12/2008 - 11:22.Singapore - Minister Mentor Lee Kuan Yew dismissed criticism from human rights organizations over Singapore's style of government and said they were trying to "do us in."
In response to the groups' assertions that the city-state is not a liberal democracy, the founding father and former prime minister said Friday night that they have never run a country and do not know what is needed.
"There is a conspiracy to do us in," Lee told the Economic Society of Singapore. "Why? ... They see us as a threat."
Major ASEAN economies likely to deliver higher-than-expected growth
Submitted by Mohit Joshi on Sat, 07/12/2008 - 15:44.Singapore - The major ASEAN economies are likely to deliver higher-than-expected growth this year, but the outlook for 2009 looks challenging, economists said in a published report on Saturday.
Morgan Stanley raised its 2008 growth forecast for Singapore, Malaysia, Thailand and Indonesia to 5.6 per cent from an earlier estimate of 5.5 per cent.
The investment bank kept intact its recently upgraded GDP growth projections for Malaysia at 5.7 per cent and Thailand at 5.6 per cent.
It jacked up the forecast for Indonesia by half a point to 6 per cent and cut Singapore's from 5.1 per cent to 4.3 per cent, said the breakdown in The Business Times.
Three institutions get Islamic fund licenses in Malaysia
Submitted by Sahil Nagpal on Mon, 07/14/2008 - 13:39.Singapore - A wholly-owned unit of Singapore's DBS Bank and the Kuwait Finance House have been granted licences to set up Islamic fund management operations in Malaysia, a statement said on Monday.
DBS Asset Management's chief executive officer Deborah Ho said the new entity will structure and distribute Islamic asset management products across Asia "via synergies with DBS and DBS' Islamic Bank of Asia."
Malaysia's Securities Commission granted approval to the two in addition to CIMB-Principal Islamic Asset Management.
"The approval of these three companies will play a catalytic role in the internationalization of our Islamic capital market," The Business Times quoted commission chairman Zarinah Anwar as saying.
More challengers lining up for East Asia's gambling bounty
Submitted by Mohit Joshi on Tue, 07/15/2008 - 14:29.Singapore - Thailand, Taiwan and Japan are said to be considering gaming options which would create more "challenges" to casinos in Asia, a published report said on Tuesday.
There are currently 121 casinos in East Asia. Macau is the leader with 29, followed by the Philippines with 19 and 14 each for Cambodia and South Korea.
"The sector's long-term outlook very much depends on the industry's continued access to affordable capital to finance the building of the mega casino/entertainment/retail projects that consumers seem to crave," The Business Times quoted E&Y global gaming services leader Tom Roche as saying.
Poll focuses on credit agencies swayed by client pressure
Submitted by Mohit Joshi on Wed, 07/16/2008 - 11:33.Singapore - Eleven per cent of financial investment professionals queried have witnessed a credit-rating agency change its product ratings after pressure from clients, according to a poll published Wednesday.
There were 1,956 responses to the poll conducted by the CFA Institute Centre.
"We were very surprised by the results of our member poll," The Business Times quoted managing director Kurt Schacht as saying, noting that 211 of the respondents said "they have indeed witnessed a credit-rating agency change their rating in response to external pressure."
The CFA Institute is an association for finance professionals.
Keppel Corp offers internships to Middle Eastern students
Submitted by Mohit Joshi on Wed, 07/16/2008 - 15:17.Singapore - Keppel Corporation launched a project to give young Middle Eastern students the opportunity to come to Singapore as interns with its businesses, it said on Wednesday.
The group's current involvement in the Middle East includes shipyards in the United Arab Emirates, environmental engineering and waste management projects in Qatar and seafront apartments on the waterfront in Jeddah.
The Keppel-Young Arab Leaders internship program is aimed at outstanding university students.
"Human capital is an important asset," human resources director Tan Poh Hong said. "We believe strongly in maximizing the potential of our people to drive business growth globally."
ASEAN foreign ministers push for ratification of landmark charter
Submitted by Sahil Nagpal on Thu, 07/17/2008 - 13:28.Singapore - Foreign ministers of the Association of South-East Asian Nations (ASEAN) started meeting in Singapore Thursday with the aim of early ratification of a landmark charter giving the organization a legal framework.
ASEAN's charter, signed by the leaders of its 10 member countries in December, seeks to commit them to promoting human rights and democratic ideals and transforming ASEAN into a legal entity to give it greater influence in the international community.
It requires ratification by all members. Ratification from Thailand, Myanmar, the Philippines and Indonesia is still outstanding.
Complete ratification was set for December, but ASEAN Secretary General Surin Pitsuwan said he hoped for full ratification next month.
OCBC bank revises exposure to US lenders
Submitted by Sahil Nagpal on Fri, 07/18/2008 - 11:01.Singapore
- Insurance funds run by a unit of Singapore's OCBC Bank have more than twice the amount of exposure to two beleaguered US mortgage-finance companies than disclosed earlier this week, news reports said on Friday.
OCBC told the Singapore Exchange that Great Eastern Holdings' funds have an exposure of 69 million Singapore dollars (51 million US dollars) to Freddie Mac and Fannie Mae, not 29 million Singapore dollars (21 million US dollars) as announced on Tuesday.
This was due to a "computation error," The Straits Times quoted the bank's statement as saying.
ABC’s S. Asia correspondent arrested on drug charges
Submitted by Sahil Nagpal on Fri, 07/18/2008 - 23:32.
Singapore, July 18 : ABC''s South Asia correspondent Peter Lloyd, who is based in New Delhi, is facing drugs charges after being arrested in Singapore.
Lloyd, 41, was arrested earlier this week and is likely to be charged with drug-related offences. He faces up to 20 years jail and 15 strokes of the cane if found guilty of the drug charges, news. com. au reported.
Police from Singapore''s Central Narcotics Bureau arrested Lloyd on Wednesday after a tip-off.
Light rays used to judge health of plants
Submitted by Mohit Joshi on Sat, 07/19/2008 - 11:01.Singapore - A Singapore lecturer has found a way to determine the health of plants long before they show obvious signs of wilting, a centre for biomedical life sciences said Saturday.
Dr Liew Oi Wah, at Singapore Polytechnic, is relying on light sensors to study the wave pattern reflected from plants.
"It will be too late for the plant if you wait until the leaves become brown and withered," The Straits Times quoted Liew as saying.
She is able to determine the extent of minerals a plant needs depending on the light spectrum produced, the report said.
Liew is aiming to develop a system of sensors that will help farmers detect exactly when and how much fertilizer and water their plants need.
Light rays used to judge health of plants
Submitted by Mohit Joshi on Sat, 07/19/2008 - 11:05.Singapore - A Singapore lecturer has found a way to determine the health of plants long before they show obvious signs of wilting, a centre for biomedical life sciences said Saturday.
Dr Liew Oi Wah, at Singapore Polytechnic, is relying on light sensors to study the wave pattern reflected from plants.
"It will be too late for the plant if you wait until the leaves become brown and withered," The Straits Times quoted Liew as saying.
She is able to determine the extent of minerals a plant needs depending on the light spectrum produced, the report said.
Liew is aiming to develop a system of sensors that will help farmers detect exactly when and how much fertilizer and water their plants need.
ASEAN to discuss "serious challenge" posed by high food, oil prices
Submitted by Sahil Nagpal on Sat, 07/19/2008 - 16:33.Singapore - South-East Asian foreign ministers plan to tackle the devastating hardships triggered by spiraling food and oil prices which threaten to derail efforts to create a European Union- style economic community.
The creation of an Association of South-East Asian Nations (ASEAN) Food Summit has been proposed for the agenda when ministers of the group's 10 member countries start meeting late Sunday in Singapore.
The ministers are set to discuss "the growing challenge posed by rising oil and food prices, which pose a serious challenge to our peoples' welfare as well as our countries' continued economic development," said a draft joint communique.
Aung San Suu Kyi could be freed in six months
Submitted by Sahil Nagpal on Mon, 07/21/2008 - 11:15.
Singapore - Myanmar has indicated that opposition leader Aung San Suu Kyi could be freed in six months, because current laws limit her maximum detention period to six years, news reports said Monday.
Singapore Foreign Minister George Yeo said that his Myanmar counterpart, Nyan Win, said that Suu Kyi has "about half a year's time left," according to The Straits Times.
When asked if this meant that the Myanmar opposition leader and Nobel Prize winner would be released, Yeo said, "I think that is not an inaccurate inference."
ASEAN aims to foster trust between international community, Myanmar
Submitted by Mohit Joshi on Mon, 07/21/2008 - 14:21.Singapore - The Association of South-East Asian Nations (ASEAN) intends to foster greater trust and cooperation between the international community and Myanmar's government, Singapore Prime Minister Lee Hsien Loong said Monday.
Kicking off a meeting of ASEAN's foreign ministers in Singapore, Lee also said ASEAN has decided to press on with the implementation of its landmark charter "without waiting for all 10 members to ratify."
The crisis over Cyclone Nargis, which struck Myanmar in May, "tested ASEAN unity and forced us to consider what ASEAN meant to Myanmar and in turn what Myanmar meant to the group," Lee said.
ASEAN urged to strengthen response mechanisms in Myanmar
Submitted by Sahil Nagpal on Mon, 07/21/2008 - 14:59.Singapore - An international humanitarian taskforce Monday urged the Association of South-East Asian Nations (ASEAN) to strengthen "rapid response capacities" in cyclone-wrecked Myanmar.
Composed of the United Nations, Myanmar's government and ASEAN's secretariat, the task force said ASEAN "should maintain its coordination leadership through mid-2009."
ASEAN was the only trusted body to ensure relief and recovery efforts could be carried out successfully, the task force said.
"Two months in the aftermath of cyclone Nargis, ASEAN has asserted its leadership that resulted in the reduction of loss of life and the alleviation of suffering," the task force said.
Myanmar ratifies charter, vows to uphold ASEAN ideals
Submitted by Mohit Joshi on Mon, 07/21/2008 - 17:31.Singapore - Myanmar ratified the Association of South-East Asian Nation's landmark charter Tuesday and vowed to uphold and enhance its democratic ideals.
Myanmar, vilified for its dictatorial government and human rights abuses, became the seventh of the 10-member regional grouping to ratify the document, which was signed by the leaders in November last year.
"Myanmar's ratification of the charter demonstrates our strong commitment to embrace the common values and aspirations of the peoples of ASEAN," Foreign Minister Nyan Win said.
Six-party meeting on North Korea set to start in Singapore
Submitted by Mohit Joshi on Wed, 07/23/2008 - 12:38.Singapore - US Secretary of State Condoleezza Rice and five other foreign ministers were set to meet in Singapore for the first time on Wednesday in an unofficial gathering focusing on North Korea's nuclear weapons programme.
The talks are focused on setting up a mechanism to verify North Korea's nuclear declaration turned over last month.
Officials, including Rice who will be meeting North Korea's foreign minister for the first time, have played down any chance of a breakthrough.
Chinese Foreign Minister Yang Jiechi said he hoped the meeting would be very good "for advancing the agenda" and pushing forward progress in the six-party talks.
Australia injects 29 million US dollars more for cyclone victims
Submitted by Mohit Joshi on Wed, 07/23/2008 - 15:02.Singapore - Australian Foreign Minister Stephen Smith said Wednesday his country made a further contribution of 30 million Australian dollars (29 million US dollars) in assistance to the victims of Myanmar's Cyclone Nargis that left 140,000 people dead or missing.
Smith, who was attending the annual foreign minister meetings of the Association of South-East Asian Nations (ASEAN), said the amount was in addition to the 25 million dollars Australia contributed immediately after the cyclone struck in May.
East Asia searches for ways to solve oil, food crisis
Submitted by Sahil Nagpal on Wed, 07/23/2008 - 16:33.Singapore - East Asian government ministers called for a "holistic and sustainable approach" to the spiralling food and fuel prices besetting the region, a statement said Wednesday.
The ministers of the 10-country Association of South-East Asian Nations (ASEAN), plus China, Japan, South Korea, India, Australia and New Zealand, noted that the problems of high food and oil prices are closely interlinked.
"We should pursue a holistic and sustainable approach to these issues given their inter-related nature, in particular the need to balance between food and biofuels production," the ministers said in a statement.
ASEAN delegations, hotel guests complain about media's behaviour
Submitted by Mohit Joshi on Wed, 07/23/2008 - 16:34.Singapore - Stampedes of reporters and photographers covering diplomatic meetings at Singapore's Shangri-La Hotel have triggered complaints from guests and delegations, the Association of South-East Asian Nations (ASEAN) said Wednesday.
"Some delegations have been swarmed by the media while entering or exiting the lobby, resulting in them being pushed and jostled," ASEAN's media subcommittee said in an advisory.
"A senior member of a visiting delegation was accidentally hit with a video camera by a photojournalist," it said. "A child was almost trampled on by a group of media personnel chasing some delegates into a lift."
Taiwan allows Polaris Securities Co to open branch in Singapore
Submitted by Mohit Joshi on Thu, 07/24/2008 - 10:55.Taipei - Taiwan's Financial Supervisory Commission approved Polaris Securities Company's application to set up a branch in Singapore, a newspaper reported Thursday.
Wu Tang-chieh, director-general of the Securities and Futures Bureau, said the commission cleared Polaris to open a branch in Singapore, allowing the company to expand its business abroad, the Taipei Times said.
Polaris is the first Taiwan securities firm to get approval to establish a branch in the city state, in keeping with Taiwan's liberalization and globalization policy, Wu told a press briefing.
Wu said Polaris chose Singapore because of its tax system, financial expertise and large Chinese population. (dpa)
Asia's premier security forum begins in Singapore
Submitted by Mohit Joshi on Thu, 07/24/2008 - 11:32.Singapore - Asia's top security forum began its annual meeting on Thursday to discuss measures that will make member- countries more responsive in dealing with the challenges in the region, especially in the area of disaster response.
Foreign ministers of the 27-country Association of Southeast Asian Nations Regional Forum (ARF) were to focus on improving disaster planning and response in the wake of the deadly cyclone that devastated Myanmar and the earthquake that wrecked havoc in China.
The group was also scheduled to discuss concrete and practical cooperation among member countries in dealing with common security challenges.
Asia's top security forum calls for better disaster response
Submitted by Sahil Nagpal on Thu, 07/24/2008 - 17:14.Singapore - Asia's top security forum said Thursday a disaster-hit country should facilitate assistance from other nations and international organizations for "prompt and effective disaster management and relief" where needed.
The foreign ministers from the 27-member Association of South-East Asian Nations Regional Forum (ARF) also agreed that external assistance should be provided with the consent of the affected country.
"Disaster relief efforts should be under its overall control and supervision," said the recommendations included in a "chairman's statement."
Asia's security forum urges ASEAN, China to keep peace in Spratlys
Submitted by Sahil Nagpal on Thu, 07/24/2008 - 18:38.
Singapore - Asia's main security forum on Thursday urged the Association of South-East Asian Nations (ASEAN) and China to expedite the formulation of guidelines governing the conduct in the disputed Spratly Islands in the South China Sea.
The ministers attending the 27-country ASEAN Regional Forum (ARF) encouraged all countries which stake claims on the area to exercise self-restraint.
GE Shipping arm pockets orders from Singapore-based Drydocks World
Submitted by Shilpa Mahapatre on Sat, 07/26/2008 - 12:12.Great Eastern Shipping Company Limited (GE Shipping) has informed that its wholly owned subsidiary named Greatship India Limited (GIL) has secured an order for two state-of-the-art deep water 150 TBP Anchor Handling, Towage & Supply Vessels from Drydocks World, Singapore.
These vessels, which are due for delivery in January 2011 and March 2011 are designed for operating as efficient and safe towage, support and supply vessels in intermediate to deep waters, and have enhanced accommodation, DP2 capability, fire fighting equipment, and are SPS compliant in all respects.
Visitors to Singapore drop for first time in 51 months
Submitted by Mohit Joshi on Sat, 07/26/2008 - 11:04.
Singapore - The number of visitors to Singapore declined in June, the first drop in 51 months amid the weakening economic climate, tourism board data said on Saturday.
Last month's arrivals were down 4.1 per cent from a year earlier, a sharp drop that followed a slow 0.8 per cent growth in April and May.
A total of 5.1 million people visited the city-state in the first half of this year, spending an estimated 6.5 billion Singapore dollars (4.8 billion US dollars) during their stay.
Singapore parking less expensive than many cities worldwide
Submitted by Mohit Joshi on Mon, 07/28/2008 - 11:02.Singapore -
Parking in Singapore's prime area is not cheap but less expensive than in many other cities worldwide, ranking 52nd out of 138, a published study said on Monday.
Drivers in the city-state fork over an average of 27.16 Singapore dollars (18.83 US dollars) for eight hours a day compared to the top price of 92.63 Singapore dollars (63.88 US dollars) in the city of London, according to property consultant Colliers International.
Japanese eating champ defeats American in devouring satay
Submitted by Sahil Nagpal on Mon, 07/28/2008 - 11:10.
Singapore - A 30-year-old Japanese gobbler emerged as the Asian champ of Singapore's Major League Eating competition by downing 5.4 kilograms of satay in
12 minutes, news reports said on Monday.
The 60-kilogram Takeru Kobayashi won the showdown on Sunday against 24-year-old American Joey Chestnut, who swallowed 4.1 kilograms of the meat on sticks, The Straits Times said.
Kobayashi leaves for home in Tokyo on Tuesday with a crystal trophy worth 3,000 Singapore dollars (2,068 US dollars).
ASEAN CIOs confident about tech-related issues, survey finds
Submitted by Mohit Joshi on Mon, 07/28/2008 - 13:46.Singapore - Chief information officers (CIOs) based in six of the 10 members of the Association of South-East Asian Nations (ASEAN) have a high degree of confidence in their ability to handle technology-related functions, a study released Monday found.
Conducted by the French business school Insead and IBM, 94 per cent of the executives queried maintained their importance has gone up.
The 2008 ASEAN CIO Leadership Study was conducted among 165 CIOs in Thailand, Malaysia, Vietnam, the Philippines, Indonesia and Singapore from January to May.
Some significant differences were found between the perception of ASEAN CIOs and their global counterparts surveyed last year, according to the findings published in Singapore's Business Times.
SIA's quarterly profit falls 15 per cent on soaring fuel costs
Submitted by Sahil Nagpal on Mon, 07/28/2008 - 20:19.
Singapore - Soaring jet fuel costs and reduced demand for air travel left Singapore Airlines (SIA) with a 15 per cent fall in quarterly profits, the carrier said on Monday.
Net profit for April through June was 358.6 million Singapore dollars (263 million US dollars,) compared with 424 million Singapore dollars (316.4 million US dollars) a year ago.
"The price of jet fuel has risen more than 75 per cent year-on- year, and the strains on financial markets have not abated," SIA said in a statement. Trends are being tracked closely "and are in a good position to react nimbly," the carrier added.
Singapore's Temasek buys stake in Merrill Lynch
Submitted by Mohit Joshi on Tue, 07/29/2008 - 13:25.New York -
Merrill Lynch & Co will sell a 3.4-billion-dollar stake to Singapore's government-owned Temasek Holdings, the US financial services firm announced late Monday.
Temasek already bought a Merrill stake last year and will become the firm's largest shareholder.
The sale is part of Merrill Lynch's plans to sell 8.5 billion dollars in stock in an attempt to raise capital as it tries to survive the ongoing US credit crunch, arising from rampant mortgage defaults.
US investment in Asia-Pacific region jumps 12 per cent
Submitted by Mohit Joshi on Tue, 07/29/2008 - 14:40.Singapore - US investments in Asia grew 12 per cent last year with the biggest jump coming in India, where acquisitions in the information sector propelled the increase, media reported Tuesday.
Investments in the rising economic giant surged 48 per cent to 13.6 billion US dollars in 2007 from a year earlier, according to US Commerce Department statistics published in Singapore's Business Times.
Investments in China rose 21 per cent to 28.2 billion dollars as a result of reinvested earnings in manufacturing, the department said.
Those in Thailand soared 37 per cent to 14.9 billion dollars largely because of investments in petroleum refining, banking and mining while investments in Malaysia jumped 25 per cent to 15.5 billion dollars.
German firm opens oil additives plant in Singapore
Submitted by Mohit Joshi on Wed, 07/30/2008 - 14:15.
Singapore - A German firm has opened a plant on Singapore's Jurong Island to provide oil additives to the Asia-Pacific region, company officials said Wednesday.
The plant, operated by Evonik RohMax Asia-Pacific, is the local subsidiary of Evonik RohMax Additives GmbH.
"We can expand capacity quickly when the need arises and market demand grows," general manager Bonnie Tully said.
The plant, which opened Tuesday, includes a production unit, laboratory and logistics unit.
SIA adds second daily A380 service between Singapore and London
Submitted by Mohit Joshi on Wed, 07/30/2008 - 21:02.Singapore - Singapore Airlines (SIA) is increasing its A380 services on the Singapore-London route to "double daily" starting September 20, the carrier said on Wednesday.
The second flight of the superjumbo will depart Singapore as SQ318, and return from London as SQ321.
A third daily flight will continue to be operated by a Boeing 747-400 "for the time being," SIA's statement said.
The twice-a-day A380 service is currently flying four times weekly. Following the delivery of a sixth A380 to SIA from manufacturer Airbus in September, the second daily flight will also be added on Tuesday, Thursday and Saturday, every day of the week.
Foreigners boost Singapore's population
Submitted by Mohit Joshi on Fri, 08/01/2008 - 11:14.
Singapore - An influx of foreigners has pushed Singapore's population to 4.59 million, with people from outside the city-state crossing the 1 million mark for the first time, published statistics showed Friday.
The population grew by almost 200,000 last year from 2006, with people from other countries accounting for the bulk of the increase.
Professionals, workers, students and their family members rose 14.9 per cent over 2006 to hit 1,005,500 in June 2007, according to the breakdown in The Straits Times.
Singapore, Vietnam mark 35 years of diplomatic relations
Submitted by Mohit Joshi on Fri, 08/01/2008 - 11:24.Singapore - Singapore's leaders exchanged congratulatory messages with their Vietnamese counterparts to commemorate 35 years of diplomatic relations on Friday.
City-state President SR Nathan noted that Singapore is one of Vietnam's largest investors and top trading partners.
"Our cooperation in the fields of education, defence, law and culture have also expanded," he said.
Relations have continued to strengthen since the establishment of diplomatic ties, Singapore Prime Minister Lee Hsien Loong said. Both countries belong to the
10-member Association of South-East Asian Nations (ASEAN).
"Within ASEAN, we have worked together to advance our integration efforts," Lee said.
More than half of workers regret what they chose to study
Submitted by Mohit Joshi on Sat, 08/02/2008 - 10:56.Singapore - More than half of Singapore's workers regret what they chose to study during their stints at schools, polytechnics or universities, a published survey said Saturday.
One in three respondents also turned out to be uncertain about their ultimate career choices, global recruitment company Kelly Services said.
The findings published in The Straits Times were distilled from answers given by more than 2,000 people in an online survey, The Straits Times said.
Most participants were in business, engineering, financial services and information technology.
Opposition politician stopped from going to Stanford University
Submitted by Mohit Joshi on Sat, 08/02/2008 - 14:56.Singapore - A bankrupt opposition politician has been prevented from leaving Singapore to attend a prestigious Stanford University programme in the United States because the trip would not benefit her creditors, Chee Siok Chin said Saturday.
"I've travelled to the Ukraine, Brussels, Mali and the Philippines since being declared a bankrupt last August," said the 42-year-old Chee.
A Singapore Democratic Party (SDP) executive committee member and sister of SDP chief Chee Soon Juan, she said that the Official Assignee's Office informed her in a letter that the trip was of no benefit to her creditors. The office must grant permission before a bankrupt person can leave the city-state.
Asia-Pacific wealth market deemed healthy
Submitted by Mohit Joshi on Mon, 08/04/2008 - 10:54.Singapore - The Asia-Pacific wealth market is still posing healthy growth estimated at 11 per cent annually, a UBS executive said in published remarks on Monday.
UBS, the world's largest manager of private wealth, is seeing positive inflows of funds despite the subdued economic mood, said Raoul Weil, the Swiss giant's global wealth management chairman.
Clients are more cautious, he acknowledged.
"They are taking a much more conservative allocation, decreasing their focus to equities," The Straits Times quoted Weil as saying. "But they are not putting on the brakes."
Singapore travel to US and Europe tops for bargain hunters
Submitted by Sahil Nagpal on Mon, 08/04/2008 - 22:45.
Singapore - A slowing economy and rising costs are not stopping bargain hunters from travelling, with the United States and Europe the top destinations followed by Japan and South Korea, news reports said on Monday.
A record 65,000 people spent 40 million Singapore dollars (30 million US dollars) at the National Association of Travel Agents (NATAS) annual fair, up 14 per cent from last year's 58,000.
Asia-Pacific wealth market deemed healthy
Submitted by Mohit Joshi on Mon, 08/04/2008 - 22:55.
Singapore - The Asia-Pacific wealth market is still posing healthy growth estimated at 11 per cent annually, a UBS executive said in published remarks on Monday.
UBS, the world's largest manager of private wealth, is seeing positive inflows of funds despite the subdued economic mood, said Raoul Weil, the Swiss giant's global wealth management chairman.
Clients are more cautious, he acknowledged.
More helpful husband tops working mothers' wish list
Submitted by Mohit Joshi on Tue, 08/05/2008 - 11:04.Singapore - A more helpful husband is the biggest wish among one in four working mothers struggling to balance domestic roles with careers, a survey said Tuesday.
Dads who play a hands-on role in parenting emerged as far more important than obtaining more childcare leave from employers, according to the findings of the Working Mothers' Forum, a support group.
The woes itemized in The Straits Times revealed that one in three Singaporean mums feel society is not understanding of the needs of working mothers.
Administrator Michelle Soh, among those surveyed, was quoted as saying that she feels squeezed by "so many roles - mother, employee wife and daughter" in a 24-hour period.
Eighth worker in 2 months dies in Singapore shipyard accident
Submitted by Sahil Nagpal on Tue, 08/05/2008 - 11:35.
Singapore - An Indian national was apparently electrocuted while cleaning a boat in the latest death to hit Singapore's beleaguered shipyard industry, news reports said on Tuesday.
The 20-year-old man was part of a team washing a ship's hull with a high-powered jet at DryDocks World Singapore when he fainted while shifting a powerful spotlight, The Straits Times reported.
The death Friday night was the eighth in the industry since June 8 and the third serious accident at DryDocks World in six weeks.
Singapore Airlines marks 1,000th flight of superjumbo jet
Submitted by Mohit Joshi on Tue, 08/05/2008 - 14:41.Singapore - Singapore Airlines marked its 1,000th flight of the world's largest passenger jet since the carrier became the first to operate the Airbus A380 in October, the airline said Tuesday.
Flight 322 departed Monday from Singapore's Changi Airport for London's Heathrow Airport.
The superjumbo has clocked 8,500 flying hours and carried 400,000 customers for Singapore Airlines, the company said in a statement.
Singapore Airlines marks 1,000th flight of superjumbo jet
Submitted by Mohit Joshi on Wed, 08/06/2008 - 02:18.
Singapore - Singapore Airlines marked its 1,000th flight of the world's largest passenger jet since the carrier became the first to operate the Airbus A380 in October, the airline said Tuesday.
Flight 322 departed Monday from Singapore's Changi Airport for London's Heathrow Airport.
The superjumbo has clocked 8,500 flying hours and carried 400,000 customers for Singapore Airlines, the company said in a statement.
Suicides growing among Singapore's elderly
Submitted by Mohit Joshi on Wed, 08/06/2008 - 02:46.
Singapore - Suicides among those 65 and older are on the rise in Singapore, increasing from 69 in 2006 to 87 last year, a suicide prevention group said Tuesday.
Samaritans of Singapore said the bulk of calls from those contemplating suicide were related to social issues.
Elderly callers said they thought of suicide because they could not bear the loneliness of living alone, said Christine Wong, the group's executive director.
They were also troubled by language barriers between them and social workers as well as poor health, she said.
Man's body washed ashore after struggle with Vietnamese girlfriend
Submitted by Sahil Nagpal on Wed, 08/06/2008 - 11:07.Singapore - A body believed to be a 37-year-old Chinese national washed ashore after he was spotted struggling in the water with his girlfriend, news reports said Wednesday.
The corpse was found on Tuesday by a group of beach-goers at East Coast Park.
The girlfriend, 25-year-old Vietnamese Dang Thi Tho, was rescued earlier by a passer-by, The Straits Times said.
Tho, who lives in Vietnam with her parents, told the newspaper that she had learned that her boyfriend was married with children in China.
From her hospital bed, she said that he tried to drag her into the sea when they met to talk on the beach.
Hunters prowling for wandering crocodile
Submitted by Mohit Joshi on Wed, 08/06/2008 - 11:14.
Singapore - Nature lovers were on the prowl Wednesday for a crocodile spotted in a Singapore park to make sure it comes to no harm if caught.
The metre-long reptile has been seen in a mangrove swamp in Pasir Ris Park and other locales over the last two weeks, triggering efforts by the National Parks Board to trap the animal.
Curious onlookers are eager to take pictures.
Among them is KC Wong, who wants "to see the crocodile in its natural habitat before someone does something to it," he told The Straits Times. "After all, Singapore has so little wildlife left."
Asia businesses face critical talent challenges
Submitted by Sahil Nagpal on Wed, 08/06/2008 - 13:34.Singapore - Businesses in Asia are facing a shortage of talent and lack of experienced staff in environments where companies are seeking robust growth, a study said on Wednesday.
Employers need to provide staff with greater independence, empowerment, flexibility and challenging work if they want to attract and retain the best workers, said Hewitt Associates, which conducted the survey for Singapore's Ministry of Manpower.
The study involving 80 business leaders in India, China and Singapore found employees are shifting jobs more frequently instead of seeking life-long employment
Organizations are replacing seniority-based employment with emphasis on results and performance, the study said.
Hunters prowling for wandering crocodile
Submitted by Mohit Joshi on Thu, 08/07/2008 - 01:04.
Singapore - Nature lovers were on the prowl Wednesday for a crocodile spotted in a Singapore park to make sure it comes to no harm if caught.
The metre-long reptile has been seen in a mangrove swamp in Pasir Ris Park and other locales over the last two weeks, triggering efforts by the National Parks Board to trap the animal.
Curious onlookers are eager to take pictures.
Singapore confers top military award on Thai Armed Forces commander
Submitted by Mohit Joshi on Thu, 08/07/2008 - 18:00.Singapore - Singapore President SR Nathan conferred the city-state's highest military award Thursday on General Boonsrang Niumpradit, supreme commander of the Royal Thai Armed Forces.
The Distinguished Service Order went to Boonsrang in recognition of his "outstanding contributions and commitment to strengthening the excellent ties between the (Royal Thai Armed Forces) and the Singapore Armed Forces," the defence ministry said.
Professional interaction between the two armed forces have increased under Boonsrang's leadership, the ministry's statement noted, citing bilateral and multilateral military exercises.
Low-cost Tiger Airways reports first annual net profit
Submitted by Mohit Joshi on Thu, 08/07/2008 - 23:40.Singapore - Low-cost carrier Tiger Airways reported on Thursday an annual net profit of 37.8 million Singapore dollars (27 million US dollars) despite soaring fuel costs.
Revenue for the year ending March 2008 rose 56 per cent to 271 million Singapore dollars (202 US dollars), said the Singapore Airlines-backed Tiger.
It was the first profitable year since the budget carrier launched in 2004.
"Even with the challenging market conditions and current oil prices we remain confident about the long-term success of both our Asian and Australian-based airlines," said chief executive Tony Davis in a statement.
Tiger is committed to continued growth and expanding operations in Australia and Singapore, Davis said.
Singapore and Malta ink Open Skies Agreement
Submitted by Sahil Nagpal on Fri, 08/08/2008 - 11:48.Singapore
- Singapore and Malta have signed an Open Skies Agreement (OSA) allowing for full flexibility on air services operated by carriers of both countries, the civil aviation authority said on Friday.
The OSA becomes fully effective on December 1, 2010.
"The OSA will enable our carriers to capitalize on market opportunities that arise in (the) future," said the authority's chief executive officer Lim Kim Choon.
Singapore's prime minister predicts "bumpy year ahead"
Submitted by Mohit Joshi on Fri, 08/08/2008 - 23:49.Singapore - Singapore's Prime Minister Lee Hsien Loong predicted "a bumpy year ahead" Friday as the economic problems gripping the US are starting to have an impact on Asia.
On the eve of Singapore's 43rd National Day, Lee said the last 12 months were a period of economic uncertainty worldwide.
"Considering the external challenges, Singapore's economic results are good," he said in his annual message. For the first half of 2008, growth was 4.5 per cent and expected to be between 4 and 5 per cent for the whole year.
However, with the housing crisis adding further stress to the US financial system, American consumers are spending less, affecting the whole global economy, Lee said.
Christianity picking up converts in Singapore
Submitted by Sahil Nagpal on Sat, 08/09/2008 - 11:28.
Singapore - Christianity is increasingly attracting followers of the Chinese religion Taoism, with young Christian converts finding an extended family at church, hip music and opportunities to socialize, a published study said on Saturday.
Census figures revealed the Taoist share of the population plunged from 30 per cent in 1980 to 22.4 per cent in 1990 to 8.5 per cent in 2000.
Christianity has seen its flock grow to 14.6 per cent in 2000 from 12.7 per cent in 1990, said the breakdown in The Straits Times.
Feng shui experts reverse direction of tallest observation wheel
Submitted by Mohit Joshi on Sat, 08/09/2008 - 16:29.
Singapore - Operators of the world's tallest observation wheel have feng shui experts to thank for pointing out that the Singapore Flyer was turning the wrong way, accounting for fewer than expected passengers, they said on Saturday.
"There have definitely been more passengers since Monday" when the 30-minute ride in 28 air-conditioned capsules started spinning in a new direction after geomancers noted its original path was taking fortune away from Singapore, said Mike Chew, one of the flight planners.
US law firm aims for Asian markets
Submitted by Mohit Joshi on Mon, 08/11/2008 - 11:42.Singapore - A US law firm has opened an office in Singapore focusing on South-East and South Asian markets, a news report said on Monday.
The city-state office of O'Melveny & Myers LLP, the firm's fifth in Asia, is starting off with a focus on the finance, merger and acquisition, private equity, restructuring and distressed investment and capital markets.
"We are in the process of recruiting more lawyers," the Business Times quoted Howard Chao, chairman of O'Melveny's Asia practice, as saying. He expects the Singapore office to have up to 15 lawyers by the end of the year.
Given the growth rates in the South-East and South Asia markets, "We expect the office will grow quickly," he added.
Australian Prime Minister Kevin Rudd to meet with Singapore's top leaders
Submitted by Mohit Joshi on Tue, 08/12/2008 - 11:05.
Singapore - Australian Prime Minister Kevin Rudd was set to kick off his visit Tuesday in Singapore by laying a wreath in remembrance of Allied soldiers who died in South-East Asia during the two world wars.
Rudd, in his first official visit to the city-state as prime minister, was scheduled to meet with the top leaders after visiting Kranji war cemetery.
French climber to scale building in Singapore
Submitted by Mohit Joshi on Tue, 08/12/2008 - 12:13.Singapore - French professional climber Alain Robert will scale a building in Singapore as part of The Straits Times' 163rd anniversary celebrations, the newspaper said on Tuesday.
The building is being kept a secret until the event on Saturday.
Robert, 45, has conquered such skyscrapers as Taipei 101, the Empire State Building and the Petronas Twin Towers.
He was arrested in the city-state when he attempted to climb the 63-storey Overseas Union Bank Building in 2000. Police nabbed him on the 23rd floor for criminal trespassing.
Robert will wear a safety harness as part of the rules governing his Singapore climb. (dpa)
Asian oil and gas sector losing talent to Middle East
Submitted by Mohit Joshi on Tue, 08/12/2008 - 12:25.Singapore - The Asian oil-and-gas industry is facing a labour crunch crisis amid the lure of higher salaries in the Middle East, a management consultancy's report said on Tuesday.
The Hay Group found workers in Asia are paid only a fraction of what a person in the same job would earn in the United Arab Emirates.
For every dollar of guaranteed cash that a senior manager earns in the UAE, his counterparts in Singapore and Malaysia earn only 74 and 32 cents respectively, the report said.
The manager in China earns 46 cents and only 17 cents in Indonesia, said the findings from the Hay Group's compensation and benefits database.
Singapore Airlines, the world’s best airline for third time in a decade
Submitted by Sahil Nagpal on Tue, 08/12/2008 - 14:44.Sydney, Aug. 12 : Singapore Airlines has been named the world''s best airline in the 2008 Airline of the Year awards. Cathay Pacific and Qantas came second and third respectively in the annual survey.
Singapore won the title for the second year in a row and the third time in 10 years. The airline also took out the award for best business class.
Qantas also won the award for best first class lounge, best economy class catering and best airline in Australasia.
SingTel's profit falls on currency moves
Submitted by Sahil Nagpal on Tue, 08/12/2008 - 15:01.
Singapore - Singapore Telecommunications, South-East Asia's largest phone company, reported Tuesday a 5.3 per cent fall in first quarter net profit as a stronger Singapore currency cut earnings from overseas affiliates.
For the first quarter ending June 30, the net profit was 878 million Singapore dollars (622 million US dollars), down from 927 million Singapore dollars in the corresponding period a year ago.
"As a high proportion of the group's earnings are from outside Singapore," the financial results are "sensitive to currency movements," a SingTel statement said.
Frozen ducks from Taiwan generate rave reviews in Singapore
Submitted by Sahil Nagpal on Wed, 08/13/2008 - 12:12.Singapore - Frozen ducks from Taiwan are getting rave reviews from Singaporeans claiming they are cheaper, plumper and tastier, a newspaper reported on Wednesday.
The birds made their debut in April as part of the Agri-Food and Veterinary Authority's (AVA's) efforts to diversify food sources in case of unpredictable crisis.
"I tried them out because I was looking for another supplier other than Malaysia, and they were plumper and the meat was juicier," The Straits Times quoted roast duck seller Henry Tan as saying.
Pin Corporation, an importer of frozen ducks, has stopped purchasing them from the United States, previously its main supplier, the report said. It now buys the cheaper Taiwan frozen ducks.
Singapore financial sector to be tested for flu-outbreak readiness
Submitted by topnews on Wed, 08/13/2008 - 17:17.Singapore - A two-week exercise to test the preparedness of Singapore's financial industry for a deadly flu outbreak is to start at the end of this month, organizers said Wednesday.
Involving more than 140 banks, insurers, other firms and government agencies, the aim is to ensure that financial institutions are ready to cope with a potential flu pandemic, said Ong-Ang Ai Boon, director of the association of banks.
The exercise is to evaluate the ability of banks, insurance companies and securities brokerage firms to respond to widespread flu infections, mass hospitalizations and deaths, the association said.
The Monetary Authority of Singapore and the Singapore Exchange are also to take part in the exercise from August 28 to September 11.
Singapore Airlines launches automated document check facility
Submitted by Mohit Joshi on Wed, 08/13/2008 - 18:26.Singapore - Singapore Airlines has become the world's first carrier to implement an automated document check facility that simplifies the task of checking travel documents, SIA said on Wednesday.
Jointly developed by experts from 11 Star Alliance member carriers, the facility processes all visa, travel and immigration requirements of the countries in the customer's itinerary and eliminates time-consuming manual verification by staff.
AirAsia Indonesia launches inaugural flight to Singapore
Submitted by Mohit Joshi on Thu, 08/14/2008 - 14:44.
Singapore - The inaugural flight of AirAsia Indonesia landed at Singapore's Changi Airport Thursday, making it the third airline to start operations in Singapore this year.
Aboard the flight from Pekanbaru, the capital city of Riau province, was the carrier's chief executive officer, Dharmadi, who like many Indonesians uses only one name.
Changi Airports International shortlisted for Russian airport bid
Submitted by Sahil Nagpal on Thu, 08/14/2008 - 18:21.Singapore - Singapore's Changi Airports International (CAI) and its Russian partner Basic Element have cleared the initial round of the bidding process to develop and operate St Petersburg's main airport, CAI said Thursday.
The Pulkovo International Airport development is Russia's first public-private partnership project for an airport.
The other bidders for the 1-billion-US-dollar project include India's GMR Infrastructure, Turkey's TAV Airports and Austria's Vienna Airport in alliance with Russia's Gazfond and Gazprombank.
Indian telecom-media group sets up headquarters in Singapore
Submitted by Sahil Nagpal on Fri, 08/15/2008 - 12:57.
Singapore - An India-based group with interests in the information-communication technology sector is setting up its global headquarters in Singapore, armed with a
200-million-US-dollar war chest, news reports said Friday.
The city-state was picked because of its proximity to the fast- growing "Israel-to-Indonesia" market, The Business Times quoted Spice Corp Chairman BK Modi as saying.
Singapore firms vow not to sell endangered species products
Submitted by Mohit Joshi on Fri, 08/15/2008 - 14:30.
Singapore - Nearly 25 per cent of the traditional Chinese medicine companies in Singapore have pledged not to sell products derived from endangered species, an animal protection group said Friday.
The shops from 189 companies are displaying a bright red and white label proclaiming, "We do not sell endangered species products."
Members of the Animal Research and Education Society said they have found tiger bones, paws and penises in addition to bear products on sale in the city-state.
Singapore, Egypt to boost bilateral trade
Submitted by Mohit Joshi on Mon, 08/18/2008 - 11:20.Singapore - An Egyptian minister for investment, accompanied by a 35-member business delegation, Monday wrapped up a visit to Singapore aimed at boosting bilateral trade.
Minister of Investment Mahmoud Mohiedin was briefed by the Monetary Authority of Singapore, Economic Development Board and the Singapore Exchange.
He and Senior Minister Goh Chok Tong discussed trends in Asia and the Middle East on Sunday, officials said.
Mohieldin also addressed a seminar on Egypt's investment climate.
Egypt is "aggressively embarking on plans to develop key sectors such as info-comm technology, logistics, infrastructure and tourism," said Teng Theng Dar, chief executive of the Singapore Business Federation. (dpa)
Overcrowded Singapore shelter for homeless foreign maids to close
Submitted by Sahil Nagpal on Mon, 08/18/2008 - 14:16.
Singapore - A shelter for nearly 100 homeless foreign maids, many victims of abuse and rape, is to be closed in two days because of overcrowding, authorities said Monday.
The women have been informed they must leave the three-storey building by Wednesday after an eviction order from the Urban Redevelopment Authority.
The government planning agency said the overcrowding presented health and hygiene problems that could affect the maids.
The women have been sharing seven bedrooms and five bathrooms.
Taoists launch drive to debunk misconceptions of superstitions
Submitted by Sahil Nagpal on Tue, 08/19/2008 - 11:06.
Singapore - Taoists are launching a drive to debunk misconceptions that their religion is based largely on superstition, after a poll showed many young followers are switching to Christianity, leaders of the faith said Tuesday.
An exhibition containing nearly 400 books in 36 languages will include the works of Taoist sage Lao Zi, known as Dao De Jing, and materials from 10 other major religions in Singapore.
Deadline extended for closure of shelter for homeless foreign maids
Submitted by Mohit Joshi on Tue, 08/19/2008 - 11:09.
Singapore - The Wednesday deadline for the closure of a shelter for homeless foreign maids has been extended by two months, news reports said Tuesday.
Singapore's Urban Development Authority (UDA) extended the deadline for evicting nearly 100 women, many of whom are victims of abuse and rape.
The Humanitarian Organization for Migration Economics (HOME), the group that runs the three-storey facility, told The Straits Times that it will get the UDA stamp of approval once it finds another site.
Angler snares evasive crocodile in Singapore park
Submitted by Mohit Joshi on Wed, 08/20/2008 - 11:19.Singapore - A fisherman snared a metre-long crocodile believed to be the reptile spotted by several people in a park not far from the heart of Singapore, news reports said on Wednesday.
The angler was fishing off a bridge when his line hooked the leg of the crocodile. The animal has been the target of a search by park employees and video enthusiasts since a snapshot was taken in a river canal by a girl more than three weeks ago.
The unidentified fisherman reeled it in, The Straits Times said. He and a companion shone a light at it before they realized it was a crocodile staring back.
They lifted the reptile onto and bridge and turned it on its back to stop it from escaping.
ASEAN members viewed as "tiny blips" on investors' radar screens
Submitted by Mohit Joshi on Wed, 08/20/2008 - 15:25.Singapore - Members of the Association of South-East Asian Nations (ASEAN) are only "tiny blips" on investors' radar screens compared to China and India, Singapore Prime Minister Lee Hsien Loong said Wednesday.
Opening the 29th ASEAN Inter-Parliamentary Assembly (AIPA) session, Lee said the 10-member group has to struggle to get its share of investments, jobs and growth.
Through hosting the Beijing Olympic, China had shown the world the talents, energy and organizational prowess of its people, Lee said. "India's economy too has considerable dynamism, and is moving up in terms of skills and technology," he added.
TV presenter apologizes for off-camera expletive
Submitted by Mohit Joshi on Wed, 08/20/2008 - 23:13.
Singapore - A television presenter has apologized for uttering an expletive during an episode of an Olympics news programme, MediaCorp said on Wednesday.
Jade Seah, who thought her microphone was switched off as she was off-camera, said the expletive after stumbling over the pronunciation of an athlete's name.
"I sincerely hope viewers will give me a chance to improve," said Seah.
The 25-year-old Seah continues to co-host the programme Today In Beijing.
Two-thirds of Singaporeans thinking of retiring abroad
Submitted by Mohit Joshi on Thu, 08/21/2008 - 11:02.
Singapore - Nearly two-thirds of Singaporeans are thinking of retiring abroad, attracted by a slower pace of life and lower cost of living, a published survey said on Thursday.
The Tsao Foundation, a non-profit group dedicated to helping the elderly, queried 300 people aged 21 to 55.
The yearning to retire abroad was highest among those aged 21 to 34. In the 45 to 55 age group, one in two had considered spending their retirement overseas, said the findings in The Straits Times.
Singapore couples offered bigger perks for more babies
Submitted by Mohit Joshi on Thu, 08/21/2008 - 11:22.
Singapore - In a desperate attempt to convince couples to have more babies, Singapore's government is offering a bonanza of tax benefits, leaves and other perks starting January.
The 1.6-billion-Singapore-dollar (1.1-billion-US-dollar) package outlined in the media on Thursday will benefit all parents.
Encouraging more births has been a national priority since Prime Minister Lee Hsien Loong focused on the escalating problem of low birth rates in 2004. The current fertility rate of 1.29 is far from the replacement level of 2.1.
Expecting parents appeal for faster baby benefits
Submitted by Mohit Joshi on Fri, 08/22/2008 - 11:09.Singapore - Appeals from parents-to-be have prompted the Singapore government to bring forward the starting date for an onslaught of new perks aimed at convincing couples to have more babies, authorities said Friday.
Instead of January 1, 2008, the benefits have been backdated to Sunday, when Prime Minister Lee Hsien Loong announced a bonanza of tax benefits, leaves, a bigger "baby bonus" and other goodies to encourage more births.
The speedy adjustment is in response to appeals by expectant mothers and fathers whose babies are due before January 1.
Saudi Arabia, Singapore to expand air services
Submitted by Sahil Nagpal on Fri, 08/22/2008 - 18:57.
Singapore - Saudi Arabia and Singapore have reached an agreement to allow any number of flights between Singapore and the eastern Gulf city of Damman, the Transport Ministry said Friday.
The increase was reached after two days of consultations between the ministry and Saudi Arabia's General Authority of Civil Aviation.
Under the agreement, carriers may also operate up to 14 flights per week between Singapore and other points in Saudi Arabia, including Jeddah and Riyadh.
Singapore warns Myanmar activists to stop protests
Submitted by Mohit Joshi on Sat, 08/23/2008 - 12:42.Singapore - Singapore's Ministry of Home Affairs warned political activists from Myanmar not to ignore repeated police orders to stop illegal public protests and anti-Myanmar activities, the The Strait Times newspaper said Saturday.
A spokesman of the Overseas Burmese Patriots (OBP), a group of Myanmar activists, said the Singapore government has not renewed immigration passes for five of its members that had participated in a public protest in November.
"We do have suspicion that the rationale for the rejections might be because of the protests and our activities," Myo Myint Maung said.
Inflation slows in Singapore
Submitted by Sahil Nagpal on Tue, 08/26/2008 - 14:10.Singapore - Singapore's rate of inflation slowed to 6.5 per cent in July after three consecutive months at 7.5 per cent, reported The Strait Times Tuesday.
The paper quoted the Statistics Department as saying that during the first six months of this year, the overall consumer price index (CPI) for households in the bottom 20 per cent income bracket rose 7.4 per cent, while the national mean was 7.1 per cent and richer households 6.9 per cent.
TCS secures multimillion dollar contract from SIA Cargo
Submitted by Devang Murthy on Wed, 08/27/2008 - 04:12.Tata Consultancy Services (TCS), India's top software exporter, has secured a multimillion dollar, back-office accounting processes contract, from Singapore Airlines Cargo (SIA Cargo).
SIA Cargo, a wholly-owned subsidiary of Singapore Airlines, is the world's fourth-largest cargo airline in terms of international freight tonne kilometers. The Airline has a route network that covers more than 39 countries across the world.
Under the five-year agreement, TCS will provide service to its cargo revenue accounting back office processes.
Taiwan seeks Singapore's help in inquiry of ex-president's accounts
Submitted by Sahil Nagpal on Wed, 08/27/2008 - 15:20.Taipei - Four Taiwan prosecutors flew to Singapore Wednesday to seek the city-state's help in investigating suspected money laundering by former president Chen Shui-bian.
The prosecutors want to check a bank account of Wu Ching-mao, brother of Chen's wife, Wu Shu-chen, because she had allegedly wired some of Chen's campaign funds to the account.
Singapore has told Taiwan that it is willing to offer legal assistance because Singapore does not allow foreigners to use its financial system to conduct illegal activities, Taiwan's Central News Agency said.
Foreign law firms good for Singapore, minister says
Submitted by Mohit Joshi on Wed, 08/27/2008 - 16:24.
Singapore - Foreign law firms would strengthen Singapore's economy and reputation as a regional legal center, especially in the corporate and banking sectors, a cabinet minister said Wednesday.
Law Minister Kasiviswanathan Shanmugan welcomed amendments approved by Parliament to permit foreign firms to practise, the Strait Times reported.
Five foreign law firms are to be licensed in October to hire qualified Singapore attorneys. Foreign firms are to be allowed to share up to 49 per cent of the profits of joint ventures, according to the legislation.
Singapore tycoon pleads guilty to illegal organ buying
Submitted by Mohit Joshi on Wed, 08/27/2008 - 22:58.Singapore - A Singapore tycoon pleaded guilty Wednesday to two counts of illegally attempting to purchasing a kidney from a village on the Indonesian island of Sumatra.
Tang Wee Sung, executive director of the tony CT Tang Department store and owner of prime real estate, admitted arranging to pay middlemen 300,000 Singapore dollars (211,678 US dollars), and just 20,000 Singapore dollars to the donor, the Straits Times reported.
Tang also admitted falsely declaring the donor was his relative.
The charges carry a three-year prison sentence, plus a fine for false declaration.
The retail magnate said he did it because he was desperately sick and had no recourse due the lack of preventative medicine to survive.
Singapore condo chairman arrested for gluing doors shut
Submitted by Sahil Nagpal on Thu, 08/28/2008 - 14:58.Singapore - In a sale dispute turned ugly, the chairman of a Singapore condominium estate was released on bail Thursday after being arrested for gluing residents' doors shut, The Strait Times newspaper reported.
Lee Kok Leong, 61, was believed to have repeatedly harassed residents, vandalized homes, glued residents' mail boxes and keyholes shut and splashed paint on their cars.
The condo's owners are locked in a rift over a collective sale of the 530-unit condo with the vandalism victims being among those not in favour of the sale, the newspaper said.
No charges were laid against Lee, who claimed that he himself was a victim of a mysterious mailbox glue attack. (dpa)
One woman, child support and two million Singaporean men
Submitted by Sahil Nagpal on Fri, 08/29/2008 - 15:44.Singapore - A woman is to receive child support payments from a former live-in boyfriend after a Singapore court said the man could not expect affidavits from the city-state's estimated other 2 million men that they did not sleep with her, The Straits Times said Friday.
The mother, 29, who was living with two men, got pregnant in 2005 and married one of the men thinking he was the father.
However, the man bailed out of the marriage after realizing he was not the father. The husband, 33, suspicious after finding out that the baby girl's blood type was different from his, took a DNA test proving the baby was not his.
Carriers restart Singapore-Phuket route after airport reopens
Submitted by Mohit Joshi on Mon, 09/01/2008 - 15:19.Singapore - Airlines were resuming their service between Singapore and the popular Thai holiday island of Phuket after the facility reopened following its closure by anti-government demonstrators, a newspaper report said.
Tiger Air and Air Asia planned to resume their service Monday, The Straits Times reported.
SilkAir became the first to reopen the route, resuming its flights Sunday night and upping its regularly scheduled single evening flight between Singapore and Phuket to three to ferry its backlog of passengers between the two destinations. It said it would operate its normal schedule of five flights Monday.
Tuscan Ventures picks 40% stake in Rasmussen & Simonsen International
Submitted by Malini Ranade on Tue, 09/02/2008 - 09:14.Mumbai-based logistics company, Tuscan Ventures has announced its strategic investment in Singapore based Rasmussen & Simonsen International Pte Ltd. (RSI), for an undisclosed amount.
Under the deal, the company will invest undisclosed sum to pick 40% stake in Rasmussen & Simonsen International.
Founded in 2004, RSI focuses on the significant demand for specialized training and consulting services in the shipping and logistics sectors.
According to official sources, the investment will allow the RSI team to fund its rapid global expansion and add the necessary human capital resources to meet the growing demand for the company's services.
Singapore team heads to China to visit Premier Wen Jiabao
Submitted by Sahil Nagpal on Tue, 09/02/2008 - 11:09.
Singapore - Deputy Prime Minister Wong Kan Seng and a team of ministers were to arrive in China Tuesday for meetings on environmental, industrial and bilateral cooperation with Premier Wen Jiabao and Vice Premier Wang Qishan on Thursday and Friday, said The Strait Times Tuesday.
At the top of the agenda, Singapore's deputy prime minster will co-chair meetings on the progress of the landmark Sino-Singapore Tianjin Eco City project and meet with Tianjin party secretary Zhang Gaoli, Major Huang Xingguo, and other leaders.
Singapore-Malaysia panel to sort out court decision on territories
Submitted by Mohit Joshi on Tue, 09/02/2008 - 11:12.Singapore - Singapore and Malaysia have set up a joint technical committee to sort out the issues surrounding sovereignty over the disputed territories of Pedra Branca, Middle Rocks and South Ledge, a media report said Tuesday.
Malaysian Minister of Foreign Affairs Rais Yatim and Singapore's Foreign Minister George Teo announced the panel and emphasized both countries' commitment to "honour and abide by the International Court of Justice(ICJ) judgement and fully implement its decision."
Singapore tops international meeting venues
Submitted by Mohit Joshi on Wed, 09/03/2008 - 12:15.
Singapore - Singapore received top marks for being the world's best meeting venue in 2007 by the international non-profit Union of International Associations, overtaking previous favorites Paris and Vienna, The Strait Times reported Wednesday.
The Asian city-state topped the rankings of meeting, exhibition and convention of the year and also won in the categories of best business event venue and business ambassador., the paper said.
Singapore tycoon jailed one day, fined in organ trading case
Submitted by Sahil Nagpal on Wed, 09/03/2008 - 20:30.
Singapore- A Singapore court sentenced retail magnate Tang Wee Sung to one day in prison and fined him 10,000 Singapore dollars (7,000 US dollars) for making a false declaration to get a kidney transplant, local media reported Wednesday.
The court also fined Tang 7,000 Singapore dollars for illegal organ trading.
Singapore, China to build model sustainable city
Submitted by Mohit Joshi on Thu, 09/04/2008 - 18:21.Singapore - Singapore and China have agreed to jointly build an eco-city near China's northern port city of Tianjin into a model of sustainable development, The Strait Times reported Thursday.
The model city will have an economy based on the sustainable use of resources the two countries agreed in Beijing during the first meeting of the China-Singapore Joint Steering Committee for the Tianjin Eco-city on Wednesday.
The eco-city will be 40 kilometres from Tianjin, an industrial city 150 kilometres north of Beijing. It is the first joint venture between China and Singapore to address growing concerns about pollution and serve as a model for other projects.
Singapore ranks in top 10 for well-managed government wealth funds
Submitted by Mohit Joshi on Thu, 09/04/2008 - 19:16.Singapore - Two Singapore sovereign wealth funds were ranked sixth and seventh in the world for good governance and transparency by a US-based economic think tank, a newspaper reported Thursday.
Tamasek Holdings was sixth, followed by the Singapore Government Investment Corp, The Straits Times said.
The rankings of 100 government investment funds by the Peterson Institute for International Economics put Norway's Pension Fund-Global in the top position.
The rankings were released at a summit this week of global sovereign wealth funds and the International Monetary Fund (IMF) in Santiago, Chile.
China, Singapore agree on free trade accord
Submitted by Mohit Joshi on Fri, 09/05/2008 - 14:05.
Singapore - China and Singapore concluded negotiations on a free trade agreement, China's first with an Asian country, news reports said Friday.
The agreement, finalized in talks this week between Singapore Deputy Prime Minister Wong Kan Seng and Chinese Vice Premier Wang Qishan in the northern coastal Chinese city of Tiajin, is likely to be signed at the Asia Europe Meeting Summit in Beijing on October 24-25.
Singapore's Temasek sells power company to Japanese consortium
Submitted by Mohit Joshi on Fri, 09/05/2008 - 18:59.
Singapore - The national Singapore investment firm Temasek Holdings has sold Senoko Power to a Japanese consortium for 4 billion Singapore dollars (2.5 billion US dollars), the company announced Friday.
The consortium of Lion Power Holdings is headed by Japan's Marubeni Corp and includes GDF Suez of France, The Kansai Electric Power Company, Kyushu Electric Power Company and Japan Bank for International Cooperation.
Singaporean indicted for embezzling money from Taiwan
Submitted by Mohit Joshi on Fri, 09/05/2008 - 23:53.
Taipei- A Singaporean businessman was indicted Friday on charges of embezzling 3 million US dollars from a diplomatic fund set up to persuade Papua New Guinea (PNG) to drop its links with China and recognize Taipei.
The Taipei Prosecutor's Office indicted Wu Shih-tsai, who was in charge of the fund, on charges of forging documents and defamation.
Singapore debates housing for foreign workers
Submitted by Mohit Joshi on Mon, 09/08/2008 - 13:18.
Singapore - Singapore's government said it is open to public forums and debates on proposals for 11 sites earmarked as housing estates for foreign semi-skilled workers, media reports said Monday.
"I welcome the debate," Foreign Affairs Minister George Yeo told reporters.
The Ministry of National Development announced plans for housing for workers from Bangladesh, Thailand and India, including converting a vacant building in the middle-class residential area of Serangoon Gardens.
Singapore urges parents to hunt up spouses for their offspring
Submitted by Sahil Nagpal on Mon, 09/08/2008 - 20:07.Singapore - The Singapore government is urging parents to play matchmaker to find appropriate spouses for their single sons and daughters, said The Strait Times Monday.
Prime Minister Lee Hsien Loong floated the idea during his National Day Rally recently by telling parents to follow the lead of thousands of mainland Chinese who have secretly sought sons- and daughters-in-law in parks and outings and were successful.
Parents in Singapore will attend arranged events and bring their offsprings' CVs, business cards and photographs to swap with others, to identify suitable partners that they would approve of, the report said.
Salaries in Asia-Pacific forecast to rise in 2009
Submitted by Sahil Nagpal on Tue, 09/09/2008 - 11:51.Singapore - Salaries in the Asia-Pacific region are forecast to jump next year as a result of rising inflation, a compensation firm's report said Tuesday.
Pay is expected to increase by a median 8 per cent in 2009 against a median increase of 6.7 per cent in 2008, according to HR Business Solutions.
Pay hikes among more developed countries including Taiwan, Japan, Australia, New Zealand and Singapore are forecast at between 3.5-5.9 per cent, the firm said.
Sri Lanka tops the projected increases at 17 per cent, followed by India at 16 per cent, Indonesia at 12.7 per cent, Vietnam at 12.4 per cent, Bangladesh at 11.9 per cent and Pakistan at 11.1 per cent.
Transport/ Singapore's Tiger Airways offers seats
Submitted by Sahil Nagpal on Tue, 09/09/2008 - 14:25.
Singapore - Budget carrier Tiger Airways on Tuesday started offering 100,000 seats at 40 Singapore cents (28 US cents) plus taxes and surcharges to destinations across Asia.
The five-day sale marks the fourth birthday next Monday of the Singapore Airlines-backed Tiger.
Set up in 2004, Tiger has expanded rapidly. Compound annual growth in revenue has averaged 90 per cent and passenger numbers have risen
by an annual average of 48 per cent, the airline said.
Punj Lloyd bags contract worth S$54 million
Submitted by Sumeet Kak on Wed, 09/10/2008 - 06:14.
Punj Lloyd, one of India's leading engineering companies, has informed that its wholly-owned Singapore subsidiary, Punj Lloyd Pte. Ltd. has been awarded a contract worth S$54 million (Rs 167 crore) by FWP.
As per the order, Punj Lloyd will carry out select utilities mechanical works on Jurong Island, Singapore.
FWP is a joint venture between Foster Wheeler Asia Pacific and Worley Parsons.
Rajish Dhall, technical analyst at Observe Securities has advised the investors to remain invested in the counter.
Shipyard explosion sends worker hurtling into sea
Submitted by Mohit Joshi on Wed, 09/10/2008 - 10:54.Singapore - A Singapore shipyard explosion ripped off part of a barge and sent an Indian worker hurtling into the sea, news reports said Wednesday.
The man was able to swim ashore and was hospitalized with cuts on his back and head, the Manpower Ministry told The Straits Times.
He was working Tuesday aboard the 46-metre-long Orion 1505.
Sparks from welding were believed to have ignited flammable vapours, setting off the blast, the report said.
Four other workers including a safety supervisor were present at the time. They were not hurt, though one of the two cranes onboard the vessel was damaged and part of its stern blown off.
Qatar's biggest bank upgrades its Singapore operations
Submitted by Mohit Joshi on Wed, 09/10/2008 - 12:25.
Singapore - The Qatar National Bank has upgraded its Singapore operations from a representative office to a branch offering a range of commercial services and products, the bank said Wednesday.
Qatar's biggest bank and the first from the country to operate in Singapore said in a statement that it would offer such services as project finance, trade finance, fixed deposits, current accounts and corporate loans.
The branch was established as "emerging opportunities will boost the business trade between Qatar, Singapore and other Asian countries," the statement said.
Singapore urges more transparency in charity operations
Submitted by Sahil Nagpal on Wed, 09/10/2008 - 19:59.
Singapore - Seven major charities have passed a governance review, but were still found wanting in several areas, Singapore's Commissioner of Charities (COC) said on Wednesday.
Among them were Campus Crusade Asia: City Harvest Church, Faith Community Baptist Church, Kong Meng San Phor Kark See Monastery, Kwan Im Thong Hood Cho Temple, New Creation Church and Trinity Christian Centre.
Some of the charities still have paid staff chairing their boards, the COC said, raising the possibility of compromising the board's objectivity.
Singapore school stopped from offering US university degree courses
Submitted by Sahil Nagpal on Thu, 09/11/2008 - 12:43.
Singapore - A private Singapore school has to stop offering degree courses from the University of Northern Virginia after the US institution lost its accreditation, news reports said Thursday.
Shines College has been offering the courses on its premises in Singapore.
The US university lost its accreditation, a confirmation of academic quality, with the US Accrediting Council of Independent Colleges and Schools on August 6.
Singapore to mark every cigarette to beat smugglers
Submitted by Mohit Joshi on Thu, 09/11/2008 - 13:36.
Singapore - Singapore is to become the first country to mark every cigarette sold in a drive to distinguish duty-paid cigarettes from their contraband counterparts, news reports said Thursday.
By January 1, each cigarette will have the letters SDPC - standing for Singapore Duty-Paid Cigarettes - printed near the filter end, The Straits Times said. The new, marked packs are to make their debut next month.
The city-state's Tobacco Association estimates that contraband cigarettes make up 20 per cent of the market.
Malaysians top foreign home buyers in Singapore
Submitted by Sahil Nagpal on Thu, 09/11/2008 - 15:02.Singapore - Malaysians overtook Indonesians as the top foreign buyers of private homes in Singapore in the second quarter, a property consultancy said Thursday.
According to DTZ, Malaysians accounted for 19 per cent of the overall purchases by foreigners, who bought a total of 913 private homes, up 3 per cent from the previous quarter.
Indonesia followed with a 17-per-cent share. Chinese and Indian citizens each accounted for 11 per cent of the foreign buyers while purchases from UK nationals accounted for 9 per cent.
The Indonesians were found to favour the prime districts, DTZ senior director Chua Chor Hoon said.
Singapore stocks fall 2.5 per cent
Submitted by Sahil Nagpal on Thu, 09/11/2008 - 18:10.Singapore - Stocks on the Singapore Exchange fell 2.5 per cent on Thursday with banks leading the decline.
The benchmark Straits Times Index slid 66.77 points to 2,569.58.
DBS, South-East Asia's largest bank, was among the decliners on apprehensions of lower earnings, analysts said. (dpa)
Singapore pursuing suit against Asian Wall Street Journal
Submitted by Sahil Nagpal on Fri, 09/12/2008 - 11:00.
Singapore - Singapore's attorney-general is suing the Asia edition of the Wall Street Journal, the publisher and two editors, alleging that two editorials and a letter "impugn the impartiality, integrity and independence" of the city-state's judiciary.
A statement posted on the attorney-general's website on Thursday said that the office was seeking contempt proceedings against Dow Jones Publishing Co (Asia) Inc, which owns and publishes the Asian Wall Street Journal.
Thai Beverage to be dropped from Singapore's Straits Times Index
Submitted by Sahil Nagpal on Fri, 09/12/2008 - 17:20.
Singapore - Thai Beverage and Yangzijiang Shipbuilding Holdings will be dropped from the benchmark Straits Times Index (STI) starting September 22, the Singapore Exchange said on Friday.
Extremely low trading volumes were cited for Thai Beverage and plunging market capitalization for Yangzijiang.
They are to be replaced by plantation firm Golden Agri-Resources and Jardine Matheson Holdings, which owns properties across Asia.
The changes follow a six-month review of the index.
Father who hurled son against wall and ceiling escapes jail term
Submitted by Sahil Nagpal on Sat, 09/13/2008 - 09:19.Singapore - A father who hurled his 7-year-old son against a wall, ceiling and wardrobe escaped a jail sentence by a Singapore judge, who said he has made progress in controlling his outbursts since the incident, news reports said on Saturday.
The 43-year-old marketing executive, whose name was withheld to protect the identities of his children, was fined 1,000 Singapore dollars (699 US dollars) instead.
Community Court Judge May Mesenas heard how the man slapped the boy and tossed him and his 6-year-old brother around a room on September 15, 2006, The Straits Times said.
The older boy suffered bruises on his forehead, arm, legs neck and back.
A teacher noticed bruises on the victim's brother.
Six short political films first passed by Singapore censors
Submitted by Kiran Pahwa on Sat, 09/13/2008 - 10:16.Singapore - Six short films documenting political activities in Singapore have been approved by Singapore censors, the first since the easing of an outright ban last month, media reports said on Saturday.
The films produced by Ho Choon Hiong, 33, focus on street demonstrations, protests and fasting.
"It is an encouraging sign," The Straights Times quoted Ho as saying of the Board of Film Censors (BFC) nod.
Prime Minister Lee Hsien Loong said last month that the ban could be relaxed. He said during the National Day Rally address that factual footage, documentaries and recordings of live events would be okayed.
Singapore founding father Lee Kuan Yew in hospital
Submitted by Sahil Nagpal on Sat, 09/13/2008 - 22:57.Singapore - Lee Kuan Yew, the architect of modern Singapore and the country's founding father, underwent successful treatment for an abnormal heart rhythm, it was reported Saturday.
The 84-year-old minister mentor, under treatment at Singapore General Hospital, is expected to resume his normal duties soon, said Channel NewsAsia.
Approaching his 85th birthday on Tuesday, Lee is credited with transforming Singapore from a colonial backwater into a financial powerhouse.
While serving as the country's first prime minister for 31 years, critics said his methods were authoritarian. He currently holds an advisory position in the cabinet of Lee Hsien Loong, the senior Lee's 56-year-old son.
Hospitalized Lee Kuan Yew delivers speech on widening wealth gap
Submitted by Mohit Joshi on Sun, 09/14/2008 - 11:06.
Singapore - Singapore's founding father Lee Kuan Yew managed to deliver a speech Saturday night while hospitalized for an abnormal heart rhythm.
Lee, who turns 85 on Tuesday, addressed 200 participants attending the Global UBS Philanthropy Forum via video link from Singapore General Hospital.
He apologized to the audience of social entrepreneurs and civil society representatives for not being with them.
Hospitalized Lee Kuan Yew calls on Asia's wealthy to help the poor
Submitted by Mohit Joshi on Sun, 09/14/2008 - 13:48.
Singapore - Singapore's founding father Lee Kuan Yew delivered a speech from his hospital room where he called for more compassion from Asia's wealthy toward the poor, local media reported Sunday.
Lee, who turns 85 on Tuesday, addressed 200 participants attending the Global UBS Philanthropy Forum via video link from Singapore General Hospital.
He apologized to the audience of social entrepreneurs and civil society representatives for not being with them.
Lee Kuan Yew discharged from Singapore hospital
Submitted by Sahil Nagpal on Mon, 09/15/2008 - 08:46.
Singapore - Singapore's founding father Lee Kuan Yew was discharged from a hospital after treatment for an abnormal heart rhythm, his office said Monday.
Lee, who turns 85 on Tuesday, was treated Saturday at Singapore General Hospital for atrial flutter and released Sunday.
Doctors pronounced the minister mentor's condition as stable, his office said. He was advised to resume his official schedule gradually.
From his hospital room, Lee delivered a speech Saturday night via video link to the Global UBS Philanthropy Forum.
Lee Kuan Yew discharged from Singapore hospital
Submitted by Sahil Nagpal on Mon, 09/15/2008 - 11:01.
Singapore - Singapore's founding father Lee Kuan Yew was discharged from a hospital after treatment for an abnormal heart rhythm, his office said Monday.
Lee, who turns 85 on Tuesday, was treated Saturday at Singapore General Hospital for atrial flutter and released Sunday.
Doctors pronounced the minister mentor's condition as stable, his office said. He was advised to resume his official schedule gradually.
From his hospital room, Lee delivered a speech Saturday night via video link to the Global UBS Philanthropy Forum.
Economic uncertainties push up Singapore's overall jobless rate
Submitted by Mohit Joshi on Mon, 09/15/2008 - 14:35.Singapore- Economic uncertainties pushed Singapore's overall unemployment rate up for a second consecutive quarter to a seasonally adjusted 2.3 per cent for the period between April and June, the Ministry of Manpower said on Monday.
Preliminary estimates showed the rate rose from a seasonally adjusted 1.7 per cent in the last quarter of 2007 to 2 per cent in the first quarter of 2008.
A seasonally adjusted 60,900 residents were unemployed in June, up from 54,300 in March, according to the figures.
The economy created 71,400 new jobs in the second quarter, slightly less than the 73,200 in the first, setting a record for the number of jobs added in a six-month period, the ministry said.
Singapore stocks down by 2.3 per cent
Submitted by Sahil Nagpal on Tue, 09/16/2008 - 13:30.
Singapore - Singapore stocks were down by 2.3 per cent at midday on Tuesday following the collapse of US investment bank Lehman Brothers.
The benchmark Straits Times Index fell 55.99 points to 2,430.56.
Investors "are cutting heavy losses now," an analyst said. "There's no way out."
DBS Vickers said it expects the downside for the index to be at 2,340 with a worst-case scenario of 2,166. (dpa)
Singapore insurance customers line up to surrender their policies
Submitted by Sahil Nagpal on Wed, 09/17/2008 - 16:06.Singapore - Anxious Singaporeans queued up in the wake of the near-collapse of US insurance giant American International Group (AIG) for a second day Wednesday to surrender policies issued by its local subsidiary.
American International Assurance (AIA) policyholders lined up despite news the US Federal Reserve Bank moved to bail out parent firm AIG with an 85-billion-dollar bridge loan.
A bankruptcy filing by AIG, a huge world player in insuring risk for institutions, would have had an even greater impact on the US and global finance system than Monday's
600-billion-dollar bankruptcy by Lehman Brothers Holdings Inc, industry experts warned.
Low-cost inflight catering service to start in Singapore
Submitted by Sahil Nagpal on Wed, 09/17/2008 - 18:36.
Singapore - Singapore Airport Terminal Service Ltd said Wednesday that it plans to start a low-cost inflight catering service to provide meals to budget carriers.
The service is to be operated by its wholly owned unit Country Foods Pte Ltd beginning in January, it said.
The company said it plans to leverage Country Foods' low-cost structure and expertise in frozen meals.
In addition to budget carriers, the meals would also be available for full-service airlines, it said.
Hundreds of customers line up at beleaguered insurance giant in Singapore
Submitted by Sahil Nagpal on Wed, 09/17/2008 - 21:41.Singapore - Hundreds of anxious customers queued up following the near-collapse of US insurance giant American International Group (AIG) for a second day Wednesday, with many surrendering policies issued by its local subsidiary.
The queue was mostly composed of Singaporeans, but also included some policyholders from Indonesia.
Many American International Assurance (AIA) policyholders said the US Federal Reserve Bank's move to bail out parent firm AIG with an 85-billion-dollar bridge loan had not eased their concerns.
Unconvinced Singapore AIA customers line up for third straight day
Submitted by Mohit Joshi on Thu, 09/18/2008 - 15:16.Singapore - For the third day in a row, hundreds of customers unconvinced of the soundness of American International Assurance (AIA) converged on the service centre in Singapore Thursday with many determined to surrender their policies.
"Even with the AIG bailout by the US government, everything is still uncertain," said Karen Tan, a 42-year-old woman with no intention of keeping her policies.
The US Federal Reserve bank's 85-billion-US-dollar loan to AIA's parent, American International Group (AIG), triggered little solace and so many more questions that the insurer opened a second service centre in the AIA Tower next door.
Wary policyholders were also lining up in Taiwan and Hong Kong.
Singapore urges banks to update investors on Lehman Brothers losses
Submitted by Mohit Joshi on Wed, 09/24/2008 - 12:37.
Singapore - Banks in Singapore that sold structured products linked to the collapsed US investment bank Lehman Brothers Holdings Inc have been asked to update investors on how much money they would get back, the Monetary Authority of Singapore said Wednesday.
The request was made after it was learned that investors who bought HSBC Holdings PLC's Lehman-linked Minibond Series and DBS Group Holdings Ltd's High Notes
5 could end up losing all their capital.
Airtel Partners With SingTel To Offer Free Incoming Calls
Submitted by Malini Ranade on Wed, 09/24/2008 - 19:28.India's leading integrated telecom services provider Bharti Airtel Ltd has announced
that it has partnered with SingTel, the official sponsor of the Singapore Formula 1, to offer up all Airtel subscribers Free Incoming Calls while in Singapore on the race weekend.
This is an exclusive offering from Bharti Airtel for the Inaugural 2008 Formula 1 SingTel Grand Prix being held on September 28, 2008.
Singapore signs agreement with Dubai financial regulator
Submitted by Mohit Joshi on Wed, 10/08/2008 - 18:12.Singapore - Singapore's central bank has signed an agreement with Dubai's financial regulator to cooperate in supervising banking, insurance and capital markets, said the Monetary Authority of Singapore (MAS) in a statement Wednesday.
"It facilitates the exchange of information for supervisory purposes between the two authorities," the MAS said, of the agreement with the Dubai Financial Services Authority.
"Such cooperation helps to strengthen the supervision of cross-border operations of financial institutions under their purview," the statement added.
The MAS signed a similar agreement with Qatar's financial regulator last week.
Singapore shares fall on fear of European financial crisis
Submitted by Sahil Nagpal on Wed, 10/08/2008 - 19:48.
Singapore - Singapore stocks fell by 6.61 per cent Wednesday as fears of a global financial crisis grew.
The Straits Times Index dropped 143.94 points to close at 2,033.61. It recorded a volume of 1,445.2 million shares from 500 losers against 98 gainers.
The Singapore market has outperformed some of the other leading regional markets recently, said Steph Wang, head of research at Kim Eng Securities Pte Ltd.
But Wednesday's drop was caused by external factors, hinging on fears of how badly the financial crisis will affect Europe, she said. (dpa)
Singapore Exchange to explain exemptions
Submitted by Mohit Joshi on Thu, 10/09/2008 - 12:23.Singapore -
The Singapore Exchange said it will soon explain to investors its decisions to allow listed companies certain exemptions under listing regulations, media reports said Thursday.
SGX will publish the exemptions or waivers given to listed companies every quarter, according to a report in The Straits Times today.
Though the companies must adhere to the listing rules, there are times when a waiver request is allowed to facilitate a transaction to the benefit of all shareholders.
Singapore stocks jump 3.4 per cent after rate cuts
Submitted by Mohit Joshi on Thu, 10/09/2008 - 19:39.
Singapore - Singapore shares jumped 3.4 per cent Thursday after central banks around the globe, including four in Asia, cut interest rates in a coordinated push to curb the impact of the global financial crisis.
Traders said they were not expecting the rebound to last, pointing out that the banking crisis would not immediately go away.
The Straits Times Index rose 69.1 points to close at 2102.71 as the shares of 278 companies declined and 250 gained.
Singapore in recession, lowers projection of 2008 economic growth
Submitted by Mohit Joshi on Fri, 10/10/2008 - 14:32.Singapore - Singapore entered its first recession since 2002 after its economy contracted for the second-straight quarter, prompting its government to revise downward its projections of the city-state's 2008 economic growth.
Singapore's gross domestic product shrank at an annualized rate of 6.3 per cent in the July-September quarter, compared with the second quarter, when the prosperous South-East Asian city's economy contracted 5.7 per cent, the Trade and Industry Ministry said.
In real, year-on-year terms, the third-quarter slowdown was measured at 0.5 per cent.
Singapore economy expected to manage through recession
Submitted by Sahil Nagpal on Sun, 10/12/2008 - 11:28.
Singapore - Singapore is in a better shape to manage the ongoing economic recession today than during the 1997 Asian financial crisis, the city state's Senior Minister for Trade and Industry S Iswaran said.
"The Asian financial crisis was an important catalyst for tightening up the financial systems in our part of the world. ... Not just the financial systems but corporate sector in terms of the level of debt it took on and how it structured its balance sheet," Iswaran said at the close of three-day Global Indian Diaspora Conference on Saturday.
Singapore shares move up 2.5 per cent
Submitted by Mohit Joshi on Tue, 10/14/2008 - 19:46.Singapore - Singapore shares rose Tuesday, joining in global gains as an increasing number of governments are set to pump cash into their economies in the face of the international financial crisis.
The Straits Times Index rose 51.96 points, or 2.5 per cent, to close at 2,128.31.
Traders said the rise was encouraged by more governments' commitments to support cash-strapped banks and the biggest points gain in history by the Dow Jones Industrial Average on Monday.
A Singapore trader cautioned that while the surge on the Singapore Stock Exchange was subject to a correction because of global economic uncertainties and any fallout among banks, it was likely to help build confidence in the stock market.
Singapore banks stable, says finance minister
Submitted by Sahil Nagpal on Wed, 10/15/2008 - 18:15.Singapore - Singapore's Finance Minister Tharman Shanmugaratnam assured the public Wednesday that the city state's banking system was not in trouble despite the current global financial crisis.
The city state's de facto central bank, the Monetary Authority of Singapore, has responded to the crisis in a measured way and as such there was no need to provide guarantees for local banks, he said.
He pointed out that confidence was still high in Singapore's financial system despite the global financial problems.
Singapore banks stable, says finance minister
Submitted by Sahil Nagpal on Wed, 10/15/2008 - 20:53.Singapore - Singapore's Finance Minister Tharman Shanmugaratnam assured the public Wednesday that the city state's banking system was not in trouble despite the current global financial crisis.
The city state's de facto central bank, the Monetary Authority of Singapore, has responded to the crisis in a measured way and as such there was no need to provide guarantees for local banks, he said.
He pointed out that confidence was still high in Singapore's financial system despite the global financial problems.
Singapore protects Singdollar deposits with 101.4 billion dollars
Submitted by Sahil Nagpal on Fri, 10/17/2008 - 11:10.
Singapore - In move to further boost confidence in the banking system, the Singapore government has moved to guarantee 150 billion Singapore dollars (101.4 US dollars) in Singapore dollar and foreign currency deposits for the next two years, media reports said Friday.
The move will back accounts of individual and non-bank customers in licensed banks, finance companies, merchant banks and cooperatives.
Human rights watchdog criticizes Singapore for muffling opposition
Submitted by Mohit Joshi on Fri, 10/17/2008 - 13:57.
New York - An international human rights watchdog on Friday accused the Singapore government of trying to silence critics with unfair defamation lawsuits.
Elaine Pearson, Human Rights Watch's deputy director for Asia, said the lawsuits, used against opposition politicians and critical media, make "a mockery of Singapore's claim to be a model democracy."
"Opposition criticism of the government is an essential ingredient of a democratic political system," she added, urging the wealthy city-state to stop its limitations on free political speech.
Singapore sees non-oil exports drop for fifth-straight month
Submitted by Sahil Nagpal on Fri, 10/17/2008 - 15:43.
Singapore - Singapore's non-oil exports fell for a fifth-consecutive month in September as the city-state's customers in Europe and the United States wanted fewer of its electronics and pharmaceuticals, the government's trade-promotion agency said Friday.
Singapore registered a 5.7-per-cent drop from September 2007 after August's 14-per-cent decline, International Enterprise Singapore said.
The statistics were released after Singapore entered a recession last quarter because it was selling fewer of its products abroad.
Singapore shares close lower
Submitted by Mohit Joshi on Fri, 10/17/2008 - 19:07.
Singapore: Singapore shares ended the week on a lower note Friday, with the Straits Times Index (STI) dropping by 72.69 points, or 3.72 per cent, to close at 1878.51.
At mid-day, the STI was up 9.71 points to 1960.91, however, the afternoon saw selling pressure due to gloomy economic outlook despite government support for the banking sector and Singapore dollar deposits.
"We had seen first two days of gains but the index fell for the rest of the three days on continuing concern about world economic outlook," a Singapore trader said.
Singapore central bank investigates sale of Lehman products
Submitted by Mohit Joshi on Sat, 10/18/2008 - 12:17.
Singapore - Singapore's central bank is investigating accusations of misconduct in the sale of investments packaged by the collapsed US investment bank Lehman Brothers Holdings Inc and other financial institutions (FIs) hit by the global financial crisis, news reports said Saturday.
The Monetary Authority of Singapore "confirms that we have been conducting formal inquiries into allegation of breaches of law, inadequate internal controls by the FIs or poor sales practices by their representatives," the authority said in a statement Friday.
Singapore's 2009 economic growth could drop lower than 3 per cent
Submitted by Sahil Nagpal on Sun, 10/19/2008 - 11:29.
Singapore - Singapore's 2009 economic growth could be slower than the estimated 3 per cent originally expected this year, cautioned the city state's former Prime Minister Goh Chok Tong.
Goh, now ranked senior minister in the government, was quick to assure that the government was looking at how to help Singaporeans overcome temporary economic hardship next year.
Singapore insists its financial markets are stable
Submitted by Sahil Nagpal on Mon, 10/20/2008 - 19:03.Singapore - Though the international financial system is still under significant stress, Singapore's markets remain stable and its banks face no funding difficulties in the interbank market, parliament was told Monday.
Nevertheless, the government decided last week to provide a guarantee of 150 billion Singapore dollars (101.62 billion US dollars) for deposits of individuals and non-bank customers in Singapore-based banks.
"If Singapore had not introduced a similar guarantee, there was a real risk that depositors would have shifted some of their deposits out of Singapore banks, to banks in other jurisdictions which guarantee deposits," Trade and Industry Minister Lim Hng Kiang said.
Singapore Prime Minister Lee to visit China
Submitted by Sahil Nagpal on Tue, 10/21/2008 - 20:05.Singapore - Singapore Prime Minister Lee Hsien Loong will make an official visit to China from October 22 to 27 in conjunction with his attendance at the ASEM (Asia-Europe Meeting) VII Summit, the government announced Tuesday.
Lee will be accompanied by Mrs Lee, Minister for Foreign Affairs George Yeo, Minister for National Development Mah Bow Tan, Minister for Trade and Industry Lim Hng Kiang, members of parliament and senior government officials.
In Beijing, Prime Minister Lee will meet with Chinese President Hu Jintao, Premier Wen Jiabao, National Standing Committee (NPC) Chairman Wu Bangguo and Vice Premier Li Keqiang, as well as other senior Chinese leaders, said the Singapore Foreign Ministry.
Nippon Oil buys controlling stake in ItalSing Petroleum
Submitted by Sahil Nagpal on Wed, 10/22/2008 - 22:00.Singapore - Singapore Petroleum Company Limited and Eni International B V, equal joint venture partners in ItalSing Petroleum Company Pte Ltd, Wednesday sold a combined 55 per cent stake in ItalSing to Nippon Oil (Asia) Pte Ltd of Japan.
SPC and ENI will each continue to hold 22.5 per cent in ItalSing Petroleum, SPC said in a statement.
Nippon will continue to use the ItalSing facilities to manufacture and blend lube oils for the local and overseas markets.
"With Nippon Oil's global lubricant networks and markets, ENI and SPC look forward to working with Nippon Oil to create and enhance the value of our joint investment in ItalSing," SPC chief executive officer Koh Ban Heng said.
GAIL secures 2nd rank in Asia among global gas utilities
Submitted by Rajvir Khanna on Thu, 10/23/2008 - 10:26.The State owned Gas Authority of India Limited got 2nd place among global gas utilities in Asian region. The ranking is awarded in Platts Global Ranking of Energy Companies. The results of Platts Global Ranking were announced in Singapore on Monday.
Almost all energy industry categories such as Coal and Consumable Fuels, Diversified Utility, Electric utility, Exploration & Production, Gas utility, Independent Power Producer, Integrated Oil and Gas, Refining and Marketing and Storage and Transfer are considered to rank them performance wise.
The ranking by Platts is done on the basis of combination of asset worth, revenues, profits and return on invested capital. Total 250 ranks are awarded to companies for their performance in the respective field.
Singapore shares drop further
Submitted by Sahil Nagpal on Thu, 10/23/2008 - 19:08.Singapore - Singapore shares came under another round of selling pressure Thursday, mostly in line with the downward trend among other Asian bourses.
The Straits Times Index (STI) fell by 75.46 points, or 4.14 per cent to close at 1745.67, with 341 counters reporting losses and 149 gains.
The STI was down by over 68 points at mid-day, with early morning trade nose-diving. However, trading was more somber from late morning through to the rest of the day.
Thursday's selling was in line with what has been happening at the regional bourses and the continuing reaction of the global financial and economic crisis, said Nancy Wei, head of research at brokerage UOB Kay Hian Pte Ltd.
Singapore and Karachi bourses to collaborate
Submitted by Sahil Nagpal on Thu, 10/23/2008 - 19:10.Singapore - Singapore Exchange Limited (SGX) and Karachi Stock Exchange (KSE) have signed a memorandum of understanding (MoU) to collaborate for the benefit of the financial services industries in Singapore and Pakistan, officials said Thursday.
The MOU aims to foster a closer relationship between the two exchanges.
The pact, which was signed in Singapore on Wednesday, includes sharing best practices regarding each exchange's products as well as the operation and governance of their respective markets.
"This MoU fosters a closer relationship between the two exchanges. We look forward to working with KSE to help develop our respective financial markets," said SGX chief executive officer Hsieh Fu Hua.
Singaporean get 28 months in jail over Taiwan diplomatic scandal
Submitted by Mohit Joshi on Thu, 10/23/2008 - 21:31.
Taipei - A Taiwan court Thursday sentenced a Singaporean businessman to two years and four months in prison over the embezzlement of 30 million US dollars intended to be used to persuade Papua New Guinea (PNG) to switch diplomatic recognition to from China Taipei.
"The court has found Wu Shih-tsai guilty of forgery of document(s) and defamation and thus sentenced him to two years and four months in prison," said the Taipei District Court in its verdict.
Singapore September manufacturing output up 2.4 per cent
Submitted by Sahil Nagpal on Fri, 10/24/2008 - 14:38.Singapore - Singapore's manufacturing output in September grew 2.4 per cent compared with the same month last year, the Economic Development Board said Friday.
However, the cumulative manufacturing output for the first nine months of the year shrank 1.9 per cent compared with the same period of last year, in view of slackening global demand.
The three-month moving average year-on-year manufacturing output index also contracted 11.4 per cent, said the city state's trade promotion agency. (dpa)
Singapore sees share sell-off, market plunges 8.33 per cent
Submitted by Sahil Nagpal on Fri, 10/24/2008 - 19:13.Singapore - Investors shed their shares Friday from the opening bell at the Singapore Exchange for fears of the global downturn's impact on corporate performances and the fate of developing economies.
The Straits Times Index crashed to 1591.48 points towards the closing bell but made a slight flip to close at 1600.28, down by a huge 145.39, or 8.33 per cent.
The STI has lost 278 points this week, having settled at 1878.51 at last Friday's close. The Singapore Exchange ended the day with 513 counters suffering losses and just 90 gainers. Trading volume totaled 1,208.5 million shares.
Singapore's Lee sees 3-5 per cent growth for East Asia
Submitted by Sahil Nagpal on Sat, 10/25/2008 - 11:31.
Singapore - East Asia should be able to achieve an annual economic growth of 3 per cent to 5 per cent considering the current global financial crisis, Singapore's Minister Mentor Lee Kuan Yew said, in press reports Saturday.
Giving the assessment, Lee was upbeat about Asian economic growth supported by China and India.
"I would say the rest of Asia might make 3, 4, 5 per cent, which isn't bad for this condition," said Lee, the first prime minister and architect of modern Singapore.
Singapore central bank to manage currency as recession looms
Submitted by Sahil Nagpal on Tue, 10/28/2008 - 14:47.Singapore - Singapore's central bank said Tuesday it stands ready to intervene and manage the Singapore dollar exchange rate if volatility continues.
Citing the weakening external economic environment and its impact on Singapore's economy, the bank said its monetary policy would shift to keeping the currency from appreciating too much, which hurts exporters.
"This policy maintains the current level of the policy band, and there will be no re-centring of the band or change to its width," it said in its latest macroeconomic review.
The central bank said it expected economic growth to remain below potential due to the weak global economic environment and the crisis in financial markets.
Singapore stocks recover on buying spree
Submitted by Sahil Nagpal on Tue, 10/28/2008 - 19:54.
Singapore - An afternoon buying spree Tuesday brought some relief to Singapore's battered Straits Times Index, which nosedived in the first hour of trading.
The index made a turnaround, gaining 66.21 points, or 4.41 per cent, to close at 1,666.49.
The index had dropped to a low of 1,475.86 within the first hour of trading to start the week on a bearish note after being closed Monday for a holiday.
A total of 1,490.5 million shares were traded on the Singapore Exchange with 364 stocks recording losses and 205 managing gains.
Singapore central bank sets up swap facility with US Fed Reserve
Submitted by Sahil Nagpal on Thu, 10/30/2008 - 13:34.
Singapore - The US Federal Reserve, the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore (MAS) Thursday announced the establishment of temporary reciprocal currency arrangements (swap lines).
Singapore sees economic crisis impact tourist arrivals
Submitted by Sahil Nagpal on Thu, 10/30/2008 - 15:16.
Singapore - The Singapore Tourism Board said Thursday that the number of tourists visiting the city-state has declined because of the global economic crisis and the downturn could continue into next year.
The current global economic climate has caused a general air of uncertainty, which has impacted consumer sentiment and lowered discretionary spending, the board said in a monthly report.
Singapore shares gain ground amidst cautious undertone
Submitted by Mohit Joshi on Thu, 10/30/2008 - 19:23.Singapore- Shares prices were lifted almost 8 per cent at the Singapore Exchange Thursday, but analysts kept a cautious undertone.
The market rode on renewed confidence injected by the US Federal Reserve's decision to cut interest rates and work at a multi-billion dollar currency swap pact, which is to include Singapore.
The Straits Times Index (STI) began a climb back from the start of the opening bell at the exchange. It rose 130.71 points to close at 1801.91, up 7.82 per cent.
The Singapore bourse recorded a high level of activity with volume rising to 1,822.6 million shares. The day ended with 406 counters recording gains and 151 finishing with losses.
Singapore companies less upbeat on prospects for next six months
Submitted by Mohit Joshi on Fri, 10/31/2008 - 17:19.Singapore - Singapore's service sector is less upbeat about business prospects for the second half of the fiscal year, according to a quarterly business expectation survey released Friday.
Fifteen per cent of the firms surveyed said they thought the business climate would improve from October to March while 30 per cent projected less favourable conditions, according to the survey conducted by the Department of Statistics.
The majority of the firms, 55 per cent, expected the business situation to remain unchanged.
The data, collected from September to mid-October, indicated a drop in positive expectations after 23 per cent surveyed about the same period a year ago felt positive.
Singaporeans told to welcome foreign workers
Submitted by Mohit Joshi on Mon, 11/03/2008 - 11:52.
Singapore - Singaporeans have been told to welcome foreign workers and expatriates because the the labour they contribute is in the city-states's national interest, according to media news reports Monday.
Law Minister K Shanmugam on Sunday said that foreign workers play an important role in building housing, roads and infrastructure in Singapore.
Singapore Exchange seeks more listings from China with agreement
Submitted by Sahil Nagpal on Mon, 11/03/2008 - 19:02.Singapore - Singapore Exchange Ltd on Monday signed an agreement with the government of China's south-eastern coastal province of Fujian to promote the listing of Fujian companies on the Singapore market.
Twenty-one Fujian firms with a total market capitalization of 4.2 billion Singapore dollars (2.86 billion US dollars) are already listed on the Singapore Exchange.
Fujian's Development and Reform Commission Office agreed to provide guidance to companies that wish to list in Singapore and facilitate regulatory checks and approvals from Chinese authorities, the exchange said.
Singapore market rebounds as investors snatch up bargains
Submitted by Sahil Nagpal on Mon, 11/03/2008 - 19:12.
Singapore - Singapore stocks rose 4.99 per cent Monday as investors went bargain hunting, but analysts warned of continuing volatility ahead.
The Straits Times Index rose 89.55 points to 1,883.75.
Gainers outnumbered losers by 422 to 125, and volume was high with 1.64 billion shares traded.
The market is recovering from oversold positions, said Stephanie Wong, head of research at Kim Eng Securities Pte Ltd in Singapore.
Singapore and Kuwait conclude open sky agreement
Submitted by Sahil Nagpal on Tue, 11/04/2008 - 18:24.Singapore - Singapore and Kuwait have concluded an Open Skies Agreement (OSA), allowing for full flexibility on air services by carriers from both countries, officials announced Tuesday.
Under the new agreement, Singapore carriers may now operate any number of flights between Singapore and points in Kuwait, as well as beyond Kuwait to any other city in the world.
Similarly, Kuwait carriers will be able to operate any number of flights to and beyond Singapore, the Civil Aviation Authority of Singapore said.
A Memorandum of Understanding on Air Services between the two governments was signed Tuesday at the at the Seif Palace in Kuwait City.
Singapore Exchange to launch extended settlement contracts
Submitted by Sahil Nagpal on Wed, 11/05/2008 - 15:08.
Singapore - The Singapore Exchange announced Wednesday that it would launch extended settlement contracts beginning January 23 to expand the range of investments available to investors in the city-state.
Extended settlement contracts allow investors to buy a stock at the current market price for settlement at a specified future date and, therefore, bet on future price movements of individual stocks.
Investors would have to put up an initial margin to trade extended settlement contracts, the exchange said. (dpa)
Singapore Prime Minister Lee congratulates Obama and Biden
Submitted by Mohit Joshi on Wed, 11/05/2008 - 22:22.
Singapore - Singapore Prime Minister Lee Hsien Long Wednesday congratulated Barak Obama on being elected the 44th president of the United States.
Citing the challenges ahead, Lee made a case to president-elect Obama for the importance of South-East Asia to the United States.
"The US has many friends and many interests in this region, which is happily not a problem region for the US," said Lee.
"We can keep it that way. An ASEAN (Association of South-East Asian Nations) with strong ties to the US will help to keep the peace in the Asia-Pacific," he said.
Giant Australian child-care provider collapses under debt
Submitted by Sahil Nagpal on Thu, 11/06/2008 - 14:31.Sydney - Australia's cash-strapped ABC Learning Centres Ltd called in the receivers Thursday after banks it owed 1.3 billion Australian dollars (910 million US dollars) called in their loans.
ABC, founded by South African-born Eddy Groves, was the world's biggest provider of child care before incurring so much debt in a global expansion programme that it was marked out long ago as a likely casualty of the current credit crisis.
Groves, who last month severed his links with ABC, was forced by margin calls to sell all his holdings. Some of the shares he unloaded were picked up by Singaporean sovereign wealth fund Temasek Holdings, now the biggest investor in the crippled company.
Singapore shares trade lower on gloomy economic outlook
Submitted by Mohit Joshi on Thu, 11/06/2008 - 19:16.Singapore - Singapore shares dropped sharply Thursday, cooling off from the euphoria over Barack Obama's election as US president the day before as investors expected a recession to hit.
The Straits Times Index (STI) dropped 49.62 points, or 2.66 per cent, to 1819.2 on profit-taking pressure.
A total of 1.12 billion shares were traded on the Singapore Exchange, and 146 were gainers and 308 were losers.
The market has been sentimentally driven and had been on a yo-yo trend with a day of gains followed by a day of losses this week, economists and market analysts said.
But economic fundamentals remain weak and were keep share prices under pressure, they added. (dpa)
Nanny state: Australia bails out child care provider
Submitted by Sahil Nagpal on Fri, 11/07/2008 - 17:29.
Sydney - Australia's failed ABC Learning Centres Ltd on Friday got a big cash injection from the government to keep its 1,100 child care outlets open until they can be sold to rival operators.
ABC, with a quarter of the market, provides 120,000 places and employs 16,000 people.
Lee Hsien Loong: Americans elected Obama for change
Submitted by Mohit Joshi on Sun, 11/09/2008 - 13:28.
Singapore - Singapore Prime Minister Lee Hsien Loong said the President-elect Barack Obama win in Tuesday's elections did not mean race was no longer an issue in the United States.
"People were tired, they wanted something different, and Mr Obama represented something different," the Sunday Times quoted Lee as saying.
Obama's victory marked a "historic change" for America, he said during a community dialogue on Saturday.
Singapore proposes integrated Asian stock market
Submitted by Sahil Nagpal on Mon, 11/10/2008 - 15:02.
Singapore - The Singapore Exchange (SGX) has proposed the creation of an integrated Asian stock market, its chief executive officer Hsieh Fu Hua said Monday.
He called on the ASEAN Exchanges and Central Securities Depositories (CSDs) to forge links that can be extended to the entire Asia-Pacific region.
"These multilateral gateways in trading, clearing and settlement will then help us create a single and more significant Asian marketplace," he said at the 12th general meeting of the Asia-Pacific Central Securities Depository Group in Singapore.
Singapore shares slip lower
Submitted by Sahil Nagpal on Mon, 11/10/2008 - 22:12.Singapore - Singapore share prices slipped lower Monday after having failed to sustain an early morning rally.
The Straits Times Index (STI) fell by a nominal 0.15 per cent or 2.81 points to 1,860.68.
The Singapore Exchange closed with 269 gainers against 192 losers. Volume totaled 1,419.9 million shares.
Singapore shares responded well to news of China's economic stimulus package at the start of the day, according to stock market analysts.
But selling pressure pushed the prices down despite global efforts in propping up economies, they said. (dpa)
CESC to invest Rs 2000 crore in next 5 years under its expansion plan
Submitted by Divesh Sharma on Tue, 11/11/2008 - 06:45.
RPG Group company CESC Ltd has decided to spend Rs 2000 crore in 3-5 years for strengthening its distribution network.
Recently, the company has tied-up with Singapore-based SP Global Solution (SGPC) for technical assistance in revamping its distribution system.
Under the arrangement, SPGC, a subsidiary of Singapore Power Group, will offer three-fold consultancy for a year, which will involve strategic planning, technology application and process standardization for the 567-km licensed area of CESC.
Singapore will not bail out casino project, minister says
Submitted by Mohit Joshi on Wed, 11/12/2008 - 19:23.
Singapore - The Singapore government will not bail out a multi-billion-dollar casino project by financially troubled Las Vegas Sands, the Channel News Asia (CNA) reported Wednesday.
But the government is considering reviewing the timeline of the Marina Bay Integrated Resort project, which is scheduled to be completed next year, reported CNA, citing Senior Minister of State for Trade and Industry S Iswaran.
Nevertheless, Iswaran has not ruled out involvement in the project by government-linked companies, saying these were commercial entities and it depended on their business sense.
Singapore stocks down by 1.3 per cent
Submitted by Sahil Nagpal on Wed, 11/12/2008 - 19:30.
Singapore - Singapore shares went through another selling spree Wednesday on reports the city state is likely to experience negative economic growth next year.
The Straits Times Index (STI) fell 1.3 per cent, or 22.95 points, to 1,784.01.
The STI was down by 22.51 points at mid-day.
The Singapore Exchange closed with 250 losers against 177 gainers.
Volume totaled 1,126.4 million shares.
The market has failed to sustain mid-morning and mid-afternoon recovery attempts, analysts said.
Asians to cut back on spending
Submitted by Mohit Joshi on Wed, 11/12/2008 - 21:10.
Singapore - In the wake of the world-wide financial crisis consumer confidence has turned pessimistic across the Asia Pacific region, according to a survey released Wednesday by MasterCard.
From India to China, and Japan to New Zealand the urban middle class were more pessimistic for the first half of 2009 than six months ago, according to the latest bi-annual Consumer Confidence survey by MasterCard Worldwide released in Singapore.
MasterCard found that only Vietnam, China, India and Singapore of the 14 markets surveyed are optimistic about the first half of next year.
Singapore sees 3.5-per-cent increase in weekly flights
Submitted by Sahil Nagpal on Thu, 11/13/2008 - 17:29.
Singapore - Singapore's Changi Airport has recorded a 3.5 per cent increase in scheduled weekly flights since the beginning of this month, despite softening of travel demand due to the global economic crisis, the Civil Aviation Authority of Singapore (CAAS) said Thursday.
Weekly scheduled flights were expected to increase further in December, when a liberalization agreement, allowing low-cost airlines to operate between Singapore and Malaysia, comes into force, the CAAS said.
Three tigers kill Malaysian worker at Singapore Zoo
Submitted by Sahil Nagpal on Thu, 11/13/2008 - 19:35.Singapore - Three white tigers at the Singapore Zoo attacked and killed a Malaysian worker Thursday, the zoo said.
Nordin Bin Montong, 32, jumped into the moat at the white tiger exhibit and was attacked by the three animals, the zoo said. Zookeepers distracted the tigers from the victim and pulled him out of the enclosure.
"While waiting for the ambulance, our vets attended to him," the zoo said in a statement.
However, "the worker tragically succumbed to his wounds," assistant director Biswajit Guha said.
Singapore minister criticizes job cuts at DBS Bank
Submitted by Sahil Nagpal on Sat, 11/15/2008 - 12:46.
Singapore - A Singapore minister criticized job cuts at the city-state's largest bank amid fears of more lay-offs next year, newspapers reported Saturday.
Lim Swee Say, a minister in the Prime Minister's Office and the secretary general of the 500,000-member National Trades Union Congress, said DBS Bank had not consulted with the DBS Staff Union on other alternatives to cut costs and opted for sudden job cuts.
But the listed and partially state-owned DBS defended its decision, saying the job cuts affected 3.5 per cent of its junior ranks, compared with 16 per cent of its senior management.
Singapore businesses expect help from government
Submitted by Mohit Joshi on Sun, 11/16/2008 - 13:09.
Singapore - The Singapore government is looking at ways to help both the small and medium enterprises and individuals soon, the Channel News Asia reported Sunday.
Foreign Minister George Yeo told a local community gathering on Saturday that the measures can be expected in the next few days.
Export-oriented Singapore's SMEs are calling on the government to help with high operating costs during the global financial crisis.
Singapore recalls statement on Afghan medical deployment
Submitted by Mohit Joshi on Mon, 11/17/2008 - 20:58.
Singapore - The Singapore government Monday recalled a statement made earlier in the day saying the Singapore Armed Forces (SAF) had sent a 20-man medical team to Afghanistan as the city state's contribution to the multinational reconstruction efforts in Afghanistan.
A corrective statement from the Singapore government said the previous statement, saying an SAF team comprising medical and nursing officers was deployed, had been sent to news outlets in error.
Turkish national fined for creating a commotion at Changi Airport
Submitted by Mohit Joshi on Tue, 11/18/2008 - 12:34.
Singapore - A Turkish national was slapped a 656 US dollar fine for spreading the word that a plane getting ready to take off from Singapore's Changi Airport would blow up, the Straits Times reported Tuesday.
Ismet Nurcin, 30, was also jailed for a month by a Community Court on another charge of using criminal force on an airport auxiliary police officer in the transit lounge of the airport's Terminal 1 on August 29.
Singapore stocks drop by 3 per cent
Submitted by Mohit Joshi on Tue, 11/18/2008 - 19:16.
Singapore - Singapore shares dropped 3 per cent Tuesday, driven down by fears of economic recession and job cuts in Asia.
The Straits Times Index dropped by 57.12 points to close at 1,692.55.
Analysts said prices continued to be under selling pressure as more banks announced job cuts. (dpa)
Singapore research team develops insulin-producing cells in mice
Submitted by Mohit Joshi on Thu, 11/20/2008 - 18:29.Singapore - A Singapore research team has made a breakthrough in the treatment of diabetes by using embryonic stem cells to develop pure insulin-producing cells in mice, a news report said Thursday.
Dr Lim Sai Kiang and Dr Li Guodong from the Institute of Medical Biology were able to develop an unlimited number of the cells, which when transplanted into diabetic mice, causing the high blood glucose levels of the rodents to decrease, Channel News Asia reported
The pure insulin-producing cells are similar to those found in the human pancreas, the pan-Asian news network said.
Singapore stocks drop 3.1 per cent
Submitted by Mohit Joshi on Thu, 11/20/2008 - 19:22.
Singapore - Singapore share prices slid Thursday, reflecting a gloomy economic outlook and the regional downward trend.
The Straits Times Index fell 3.1 per cent, or 51.64 points, to close at 1,613.95.
Trading volume on the Singapore Exchange was thin, totaling 950.5 million shares. The exchange closed the day with 324 losers and 140 gainers.
Singapore shares have been under pressure all this week as the city-state's and regional corporations try to weather the impact of the global financial crisis, economists said.
Singapore lowers economic growth projections
Submitted by Sahil Nagpal on Fri, 11/21/2008 - 12:19.
Singapore - Singapore further downgraded its economic growth forecast to 2.5 per cent for this year, down from 3 per cent previously forecast, the Ministry of Trade and Industry (MTI) said on Friday.
Singapore had in October revised this year's growth to 3 per cent, down from an earlier predicted 4 per cent and 5 per cent.
In 2009, the MTI sees Singapore's gross domestic product (GDP) ranging between a contraction of 1 per cent and growth of 2 per cent.
Singapore's GDP contracted by 0.6 per cent in year-on-year terms in the third quarter of 2008, said the MTI.
Singapore stocks up by 2.67 per cent
Submitted by Sahil Nagpal on Fri, 11/21/2008 - 19:29.
Singapore - Singapore shares rose Friday, making a technical turnaround on news of the government's financial support to local businesses.
The Straits Times Index rose by 2.67 per cent or 43.12 points to close at 1,657.07.
The Singapore Exchange closed with 208 gainers against 182 losers in thin trading, with volume of 934.8 million shares.
Analysts and economists said the market regained some ground after having been on the downward trend for the week.
Singapore court jails man for 28 years for raping daughter
Submitted by Sahil Nagpal on Sat, 11/22/2008 - 13:22.
Singapore - A Singapore father was sentenced to 28 years in jail and 28 strokes of the cane for raping his teenage daughter 23 times, a newspaper reported Saturday.
"As her father, you should have protected her," High Court Judge Woo Bih Li was quoted by the Straits Times as telling the 39-year-old. "Instead, you engaged in a campaign of sexual abuse against her."
Singapore shares drop by 2.5 per cent
Submitted by Mohit Joshi on Mon, 11/24/2008 - 19:09.
Singapore - Singapore shares started another week of downward trend dropping by a 2.5 per cent on Monday.
The Straits Times Index fell 2.5 per cent or 41.81 points to 1,620.29.
The Singapore Exchange closed with 284 losers against 108 gainers in thin trading. (dpa)
Singapore and Bahrain bourses sign consultancy pact
Submitted by Mohit Joshi on Mon, 11/24/2008 - 20:16.
Singapore - Singapore Exchange Limited (SGX) said it signed a consultancy agreement with the Bahrain Stock Exchange (BSE) on Monday.
SGX said its wholly owned subsidiary SGX-International would provide overall guidance on the management and operations of BSE through training and knowledge transfer which would help enhance the Manama-based bourse's competitiveness in the region by increasing its operational efficiency.
Singapore president and prime minister to take salary cuts
Submitted by Mohit Joshi on Tue, 11/25/2008 - 11:05.
Singapore - Singaporean President SR Nathan and Prime Minister Lee Hsien Loong will take a 19 per cent salary cut next year, leading a civil-service-wide downward salary adjustment to offset the impact of the global financial crisis, local media reports said Tuesday.
The president and prime minister would earn 3.14 million Singapore dollars (2.07 million US dollars ) and 3.04 million Singapore dollars (2 million US dollars) with the cuts in
2009.
Singapore shares gain 2 per cent
Submitted by Sahil Nagpal on Tue, 11/25/2008 - 19:23.
Singapore - Singapore share prices rose 2 per cent on Tuesday, following trends of most Asian stock markets which welcomed the US government bailout of Citigroup.
The Straits Times Index rose by 2 per cent or 32.96 points to 1,653.25.
The Singapore Exchange closed with 208 losers against 206 gainers. Volume totaled 1,090.8 million shares.
Singapore manufacturing down as demand drops
Submitted by Mohit Joshi on Wed, 11/26/2008 - 17:26.Singapore - Singapore's October manufacturing output declined 12.6 per cent compared with the same month last year due to a drop in regional demand, the Singapore Economic Development Board said Wednesday.
The export-oriented petroleum, petrochemical, precision engineering, consumer electronics and semi-conductor industries reported a drop in demand, it said.
The transport engineering, marine & offshore engineering and aerospace segments reported growth in demand, including ongoing contracts.
On a seasonally adjusted month-on-month basis, October output shrank 12.7 per cent over September, the board said.
Singapore's October tourist arrivals down by 8.1 per cent
Submitted by Mohit Joshi on Wed, 11/26/2008 - 19:36.Singapore - Singapore's October tourism arrivals dropped by 8.1 per cent to 843,000 visitors from the same month a year ago, the Singapore Tourism Board said Wednesday.
Indonesia (with 157,000 visitors), China (76,000), Australia (76,000), India (67,000) and Malaysia (54,000) were Singapore's top five visitor-generating markets and accounted for 51 per cent of the total visitor arrivals for the month, it said.
Singapore shares gain 3.5 per cent
Submitted by Mohit Joshi on Wed, 11/26/2008 - 20:56.
Singapore - Singapore shares rose by 3.5 per cent on Wednesday, maintaining its upward momentum despite gloomy corporate news.
The Straits Times Index was up by 3.5 per cent or 57.88 points at 1,711.13.
The Singapore Exchange closed with 228 gainers against 182 losers in thin trade.
Volume was 864.5 million shares.
Analysts and economists said the Singapore market had gained good ground in a challenging economic environment with corporations projecting uncertain outlooks for earnings in the coming months. (dpa)
Singapore opts out of cluster munitions convention but bans exports
Submitted by Sahil Nagpal on Thu, 11/27/2008 - 12:44.
Singapore - Singapore will not sign the Convention on Cluster Munitions on December 3 in Olso but has indefinitely banned exports of the bombs, which the city-state described as legitimate weapons for self-defence, The Straits Times reported Thursday.
Singapore condemns Mumbai terrorist attacks
Submitted by Mohit Joshi on Thu, 11/27/2008 - 16:45.Singapore - Singapore strongly condemns the series of terrorist attacks in India's financial capital of Mumbai that killed 101 people and injured 287, the Foreign Ministry said in a statement on Thursday.
"We would like to convey our deepest condolences to the victims, their families, the government of India and its people," it said.
"The Mumbai attacks underscore the common terrorist threat that we continue to face today. Singapore stands firmly behind the Indian government in its fight against terrorism," the statement said.
The Ministry said one Singaporean was among the several people being held hostage by the terrorists at two posh hotels - the Trident and the Taj - in Mumbai. (dpa)
Singapore services industries grows by 11.6 per cent in 3rd quarter
Submitted by Sahil Nagpal on Thu, 11/27/2008 - 17:18.
Singapore- Singapore's business receipts for services industries rose by 11.6 per cent in the third quarter of this year over the same period of 2007, the Singapore Department of Statistics said Thursday.
Turnover of water transport services grew by 19.6 per cent in the third quarter from a year ago, with contribution from shipping lines and firms engaged in ship and boat leasing.
Revenue of the post and telecommunications industry rose by 4.6 per cent, while business receipts of the financial services industry grew by 5 per cent.
Singapore jails opposition trio for contempt of court
Submitted by Mohit Joshi on Fri, 11/28/2008 - 12:07.
Singapore - A Singapore Court jailed three opposition-linked activists for contempt of court for donning identical T-shirts with a picture of a kangaroo wearing judge's robes during a politician's hearing, news reports said Friday.
Opposition Democratic Party assistant secretary general John Tan Liang Joo, 47, was sentenced Thursday to 15 days jail while Isrizal Mohamed Isa, 33, and Muhammad Shafi'ie Syahmi Sariman, 20, were each sentenced to seven days.
Singapore signs open sky pacts with Romania and Zambia
Submitted by Sahil Nagpal on Fri, 11/28/2008 - 17:37.
Singapore - Singapore has concluded two separate Open Skies Agreements (OSAs) with Romania and Zambia to allow full flexibility on air services, the Civil Aviation Authority of Singapore (CAAS) announced Friday.
The OSA between Singapore and Romania allows Singapore carriers to operate any number of passenger and cargo flights between Singapore and points in Romania, as well as beyond Romania to any other city in the world.
Likewise, Romania carriers might operate any number of flights to and beyond Singapore.
HIV cases in Singapore to hit record levels in 2008
Submitted by Piyush Diwan on Mon, 12/01/2008 - 20:05.
The latest report of Singapore's health ministry paints a grim picture of HIV cases in the country.
According to the government of Singapore, as compared to the last year, the total number of HIV cases in the country will exceed this year.
Figure out the latest government records: in the first ten months of this year, 382 persons were affected by HIV in the country, while in 2007(whole), 423 cases of this deadly disease were notified.
Singapore jails Australian reporter on drugs charges
Submitted by Mohit Joshi on Tue, 12/02/2008 - 14:34.
Sydney - Australian journalist Peter Lloyd was jailed for 10 months Tuesday after pleading guilty to drugs charges in a Singapore court, the national broadcaster ABC reported Tuesday.
Lloyd, 42, ABC's South Asia correspondent, was arrested in July for possession of 0.4 grams of methamphetamine, a drug commonly called ice.
Lloyd had agreed to plead guilty to the lesser charge of possession in return for the more serious charge of drug trafficking being dropped.
Air India's joint venture proposal with SATS to be worked out by Panel
Submitted by Shilpa Mahapatre on Sat, 12/06/2008 - 15:57.
In order to improve ground handling and cargo operations at various airports, the National Aviation Company of India Ltd (NACIL) has proposed to set up joint venture companies with Singapore Airport Terminal Services Ltd (SATS).
Singapore expects job cuts in first quarter
Submitted by Sahil Nagpal on Tue, 12/09/2008 - 13:36.
Singapore - Singapore is expecting more job cuts in the first quarter of next year, according to a survey reported by the Straits Times Tuesday.
About half of the 629 bosses surveyed intend to cut jobs in the first three months of 2009, compared to 10 per cent who were polled on staff cuts between October and December this year.
The jobs cuts will be through retrenchments, not replacing staff who leave, and freezing hiring plans, it said, citing the survey by global human resource consultancy Manpower Inc, which had polled the 629 employers in Singapore.
Singapore shares up by 5.4 per cent
Submitted by Mohit Joshi on Tue, 12/09/2008 - 19:47.
Singapore - Singapore share prices rose by 5.4 per cent on Tuesday, pushing the Straits Times Index up 89.25 points to close at 1,748.42.
The Singapore Exchange closed with 324 gainers against 131 losers. Volume totaled 1,338.6 million shares.
Analysts said the gains were supported by bullish performances in the region's markets, although the city-state's economic outlook remains bearish for the next quarter.
Economic output could shrink by 7 per cent year-on-year in the first quarter of 2009, Citigroup equity research chief Chua Hak Bin told a seminar on Friday.
Singapore employers fined for providing substandard accommodation
Submitted by Sahil Nagpal on Wed, 12/10/2008 - 15:20.Singapore - Singapore courts have prosecuted 1,052 employers in the first 11 months of this year for providing sub-standard accommodation to their foreign workers, news reports said Wednesday.
The city-state's Manpower Ministry found hundreds of dormitories that failed to meet health and safety standards, The Straits Times and Channel News Asia reported.
Checks by the ministry found that some sites were overcrowded and located in areas with a high prevalence of dengue fever and the viral disease chikungunya, while others were illegally converted dormitories at factories.
The highest fine of 20,000 Singapore dollars (13,320 dollars) was imposed on an employer for housing his workers in a collection centre for rubbish bins.
Study sees stronger income and trade link between Asia and the West
Submitted by Mohit Joshi on Wed, 12/10/2008 - 19:50.Singapore - The link between income and trade is stronger between Asia and the West than between North America and Europe, according to a study by the Economist Intelligence Unit which was released in Singapore Wednesday.
A 1 per cent increase in combined income between an Asian country and a Western country would deliver a 1.36 per cent increase in trade, said the study, which the research company did for international couriers DHL.
Trade between the Association of Southeast Asian Nations (ASEAN) and the West would rise 1.35 per cent for every one per cent increase in combined income, compared to trading relations between two Western countries, where a 1 per cent increase in combined income delivers a 1.14 per cent increase in trade.
Study sees stronger income and trade link between Asia and the West
Submitted by Mohit Joshi on Wed, 12/10/2008 - 19:52.
Singapore - The link between income and trade is stronger between Asia and the West than between North America and Europe, according to a study by the Economist Intelligence Unit which was released in Singapore Wednesday.
A 1 per cent increase in combined income between an Asian country and a Western country would deliver a 1.36 per cent increase in trade, said the study, which the research company did for international couriers DHL.
Economists cut Singapore GDP growth forecast, see 2009 decline
Submitted by Mohit Joshi on Wed, 12/10/2008 - 20:17.
Singapore - Private sector economists drastically cut their forecasts for Singapore's 2008 economic growth to 2.2 per cent, from 4.2 per cent in a September survey, Channel News Asia reported Wednesday.
The new projection is also below the government's forecast of about 3 per cent for this year.
Economists consulted in the survey by the Monetary Authority of Singapore also adjusted the fourth-quarter gross domestic product to 0.4 per cent growth, down from earlier forecasts of 4.8 per cent.
Singapore shares rise 3.8 per cent
Submitted by Mohit Joshi on Wed, 12/10/2008 - 21:27.Singapore - Singapore shares continued their upward trend Wednesday, rising by 3.8 per cent.
The Straits Times Index rose by 3.8 per cent, or 67.12 points, to close at 1,821.70 as share prices regained recent losses, though the economic outlook remained bearish.
The Singapore Exchange closed with 350 gainers against 152 losers in heavy trading, with volume totalling 1,782 million shares.
Analysts and economists continued to project a bearish Singapore economic outlook for next year with the current quarter already showing slowing economic growth. (dpa)
Singapore mourns former Indonesian foreign minister Alatas
Submitted by Mohit Joshi on Thu, 12/11/2008 - 19:12.
Singapore - Former Indonesian foreign minister Ali Alatas, who died Thursday morning at a Singapore hospital, was a well-respected statesman and a champion of regional cooperation, Singapore's Foreign Ministry said.
"He was a firm believer in regional cooperation and a tireless promoter of ASEAN (Association of Southeast Asian Nations). He played a crucial role in drafting the ASEAN Charter," the ministry said in a statement.
Forecaster sees 2009 recovery for Asian economy
Submitted by Sahil Nagpal on Fri, 12/12/2008 - 11:52.Singapore - Singapore could well be the first economy in Southeast Asia to rebound from the current economic crisis by about third quarter of next year, economist Thierry Apoteker said in a news report Friday.
Apoteker, a French economist and head of a consulting agency, told television station Channel News Asia (CNA) he expected the US and Eurozone to see signs of recovery in the second quarter of 2009, with Asia following suit in the third quarter.
However, he remained cautious about the China factor in Asian economic recovery.
Singapore extends helping hand to airlines
Submitted by Mohit Joshi on Fri, 12/12/2008 - 15:05.Singapore - The Civil Aviation Authority of Singapore (CAAS) said Friday it was extending and expanding its Air Hub Development Fund (AHDF) to help airlines and airport service providers affected by the global economic downturn.
The AHDF, scheduled to expire December 31, 2008, would be extended by a year with an expanded budget of 130 million Singapore dollars (87.37 million US dollars) compared to the current 100 million dollars.
The CAAS said it would be introducing enhanced benefits, such as increasing the landing fee rebate by 10 per cent to 25 per cent under the extended fund for the benefit of the airlines using Singapore's Changi and Selatar airports.
Retail sales drop 6.8 per cent in Singapore during October
Submitted by Sahil Nagpal on Mon, 12/15/2008 - 15:08.
Singapore - Singapore's retail sales in October 2008 fell 6.8 per cent from September, the Statistics Department said Monday.
On a year-on-year basis, retail sales declined by 3.6 per cent over a year ago. The volume of retail sales fell by 8.5 per cent after removing price effect, the department said.
The biggest drop was in October motor vehicles sales which fell 20 per cent compared to September.
Retailers of telecommunications equipment and computers reported month-to-month lower turnover of 17.5 per cent.
Singapore shares up 2 per cent on potential US auto bail-out
Submitted by Mohit Joshi on Mon, 12/15/2008 - 19:29.
Singapore - Singapore shares were up 2 per cent Monday on hopes for a US government bailout of the country's automobile industry.
The Straits Times Index rose 34.42 points, or 1.98 per cent, to 1,774.76 in thin trading.
The Singapore Exchange closed with 233 gainers against 163 losers, and volume totaled 934.5 million shares.
Analysts said the market kept to an upward trend, reflecting gains across Asia, which were supported by the potential US auto bail-out. (dpa)
Singapore welcomes Taiwan Strait links
Submitted by Mohit Joshi on Mon, 12/15/2008 - 23:06.
Singapore - Singapore welcomed Monday the launch of direct air, sea and postal links between China and Taiwan.
"This will allow enhanced cross-strait economic and people-to-people exchanges, and both sides can derive the win-win benefits of this advancement in cross-strait dialogue and cooperation," a Foreign Ministry statement said, referring to the exchanges between Taipei and Beijing across the Taiwan Strait.
"This positive development will be good for regional stability," the Ministry said in response to media queries. (dpa)
Singapore Airlines increases charges for emergency exit seats
Submitted by Sahil Nagpal on Tue, 12/16/2008 - 12:28.Singapore/Hamburg - Singapore Airlines has implemented a new charge for economy class passengers who want to book a seat beside an emergency exit.
Passengers will now have to pay a minimum of 50 dollars for an advance, online seat-booking on each stretch of the route.
The decision means a flight on the airline's Frankfurt-Singapore-Sydney route can cost an additional 100 dollars.
So far, passengers could check-in online and book an emergency exit seat free of charge.
Contractor jailed as Singapore cracks down on underage prostitution
Submitted by Mohit Joshi on Tue, 12/16/2008 - 13:07.Singapore - A contractor received a one-year jail term in what is believed to be the first sentencing under laws Singapore introduced in February that toughened penalties for having sex with underage prostitutes, news reports said Tuesday.
Tan Chye Hin, 55, pleaded guilty to having sex with a 16-year-old sex worker but is appealing Monday's sentence by a district court.
A second man is awaiting sentencing for having sex with the same prostitute, also in August and also for 100 Singapore dollars (68 US dollars).
Accountant Rodney Sim Hang Nge, 61, is to be sentenced January 7 for having sex twice with the girl from China.
ASEAN ministers sign three economic agreements
Submitted by Mohit Joshi on Tue, 12/16/2008 - 19:21.
Singapore - The economic ministers from the Association of Southeast Asian Nations (ASEAN) Tuesday signed three trade agreements in Singapore.
Ministers from Brunei, Cambodia, Indonesia, Laos, Malaysia, and Singapore, and the ASEAN secretary-general attended the event, the Singapore Trade and Industry Ministry said.
"This was a landmark occasion for ASEAN, sealing key work towards achieving the first pillar of the ASEAN Economic Community," the statement said, referring to the goal of a single market and production base in the bloc.
Singapore's non-oil exports fall 17 per cent in November
Submitted by Sahil Nagpal on Wed, 12/17/2008 - 15:36.Singapore - Singapore's non-oil exports declined 17 per cent in November from the same month a year earlier because of declining demand in Europe, the United States and China, the government's trade-promotion agency said Wednesday.
The drop was the most in six years and was greater than the 15-per-cent dip recorded in October by International Enterprise Singapore.
On a month-on-month, seasonally adjusted basis, non-oil exports declined by 2.8 per cent in November after the previous month's 7.5-per-cent decrease, the agency said.
Total exports, including oil, fell 11.8 per cent, it said.
Lee congratulates new Thai prime minister
Submitted by Mohit Joshi on Wed, 12/17/2008 - 23:14.
Singapore - Singapore Prime Minister Lee Hsien Loong Wednesday congratulated Abhisit Vejjajiva on being appointed Thailand's new prime minister, and urged the need to discuss the global financial crisis at the upcoming summit of the Association of Southeast Asian Nations (ASEAN).
"There is much that we need to discuss at the ASEAN summit, particularly given the financial crisis that has affected the world. I am heartened that you have said that you favour an early summit," said Lee in a congratulatory letter.
Malaysian cops bust drug syndicates, arrest 13
Submitted by Sahil Nagpal on Thu, 12/18/2008 - 12:30.Kuala Lumpur - Malaysian police busted two drug syndicates believed to be helmed by Singaporeans with the seizure of drugs worth about 1.5 million ringgit (434,783 dollars) and the arrest of 13 suspects, news reports said Thursday.
Two raids conducted by police Tuesday night in the southern state of Johor resulted in the seizure of 26 kilograms of drugs, including ketamine; nimetazepam pills, also known as Erimin 5; methamphetamines; and ecstasy.
The suspects, including two accused Singaporean masterminds, were aged 20 to 66 and were believed to be part of the syndicates that have been in operation for the past six months, acting state police chief Hisan Tun Hamzah said.
World Bank to open Singapore hub with focus on urbanization
Submitted by Mohit Joshi on Thu, 12/18/2008 - 16:55.
Singapore - The World Bank and Singapore signed an agreement Thursday to set up an urban hub in the city-state to provide and facilitate advice and technical assistance to developing countries on urban management, water and resource management, city financing and urban design.
World Bank President Robert Zoellick and Singapore Foreign Minister George Yeo signed the agreement, under which the two sides said they would collaborate to meet growing demand from developing countries for technical advice, especially on urban management.
Bulimia patient given chance to correct her eating disorder
Submitted by Sahil Nagpal on Sat, 12/20/2008 - 13:53.
Singapore - A Singapore Community Court has postponed jail sentencing on a 48-year old woman who suffers from the eating disorder bulimia, reported the Straits Times Saturday.
Yeow Cheng Chiam, who had been convicted of food theft nine times since 1986, was being given a year to see how she responds to treatment for her eating disorder.
Yeow was arrested for stealing food May 10, just two months after she was released from a five-year term of corrective training for repeat offenders, according to the daily report.
Singapore foreign minister sees likely delay of ASEAN Summit
Submitted by Mohit Joshi on Sun, 12/21/2008 - 12:14.
Singapore - The Association of Southeast Asian Nations (ASEAN) Summit may have to be rescheduled from the February 24-26 date set in Jakarta last week, The Sunday Times reported, citing Singapore Foreign Minister George Yeo.
"I thought we had settled it in Jakarta a few days ago, but now I'm told that there are some leaders who can't make it," Yeo was quoted as saying.
Singapore Fund Acquires 1.8% In Sun Network For Over Rs 100 Cr
Submitted by Keshav Seth on Wed, 12/24/2008 - 17:10.The family reunion between the DMK and the Marans has boosted the investor sentiment in Kalanidhi Maran owned, Sun Network.
Singapore based, Nalanda Capital has picked up 1.8% stake in the company, for a little over Rs 100 crore through an open market transaction on the Bombay Stock Exchange and also by deals through Kirloskar Oil Engines and Carborundum Universal.
Nalanda bought 70 lakh shares of Sun at Rs 145 a share from Indiabulls Financial Services and the total deal is worth Rs 101.5 crore.
Singapore's November manufacturing output declines by 7.5 per cent
Submitted by Sahil Nagpal on Fri, 12/26/2008 - 14:36.Singapore - Singapore9s November manufacturing output declined by 7.5 per cent compared with the same month last year, according to the Economic Development Board Friday.
On a seasonally adjusted month-on-month basis, output rose 6.2 per cent in November, due to a higher level of production in the biomedical manufacturing cluster, the state agency said.
The three-month moving average year-on-year index for November fell 5.5 per cent compared to the same period last year.
Cumulative manufacturing output for the first eleven months of 2008 fell 3.3 per cent compared with the same period last year.
Singapore sees 9.7-per-cent drop in November visitors
Submitted by Mohit Joshi on Fri, 12/26/2008 - 14:52.
Singapore - Tourist arrivals in Singapore fell by 9.7 per cent in November to 760,000 visitors compared to the same month a year ago, the Singapore Tourism Board (STB) said Friday.
Indonesia, China, Australia, Malaysia and India were Singapore's top five visitor-generating markets, accounting for 49 per cent of total visitor arrivals for the month.
The STB said the visitor arrivals in Singapore had been declining since June, reflecting the continued impact of the worsening global economic slowdown on consumer sentiments and discretionary spending.
Malaysian fortune teller jailed in Singapore for cheating
Submitted by Mohit Joshi on Sat, 12/27/2008 - 11:44.
Singapore - A Malaysian fortune teller was sentenced to 15 months in jail by a Singapore court on Friday for fleecing a woman of 60,000 Singapore dollars (41,430 US dollars), the Straits Times reported Saturday.
Tan Ka Chuan received regular payments from Singaporean Lee Lye Fong in exchange for promises to perform rituals that would protect her family and make her wealthy.
Lee herself went through a police probe for dipping into the funds of her employer to pay for Tan's bogus promises.
Singaporean man detained after Thai stepson found dead
Submitted by Sahil Nagpal on Mon, 12/29/2008 - 11:27.Kuala Lumpur - Malaysian police have detained a Singaporean man and his wife, a Thai national, after his young stepson was found dead in his home with bruises on the body, hands, legs and head, a news report said Monday.
The victim, an 8-year old boy, was believed to have been abused before he died, said deputy district police chief Mohamad Akhir Ishak.
Neighbours called police Saturday afternoon after they heard a commotion in the boy's home in the southern Johor state, the Star daily reported.
"We discovered the body in the back room of the apartment," said Mohamad Akhir, adding that the post mortem result showed that the boy died from multiple injuries especially from those inflicted on the head.
Singapore urges Israel, Hamas to renew truce
Submitted by Mohit Joshi on Tue, 12/30/2008 - 10:52.
Singapore - Expressing concern over the continuing bombardment of the Gaza Strip, Singapore urged Israel and Hamas to exercise restraint and renew a truce that ended December 19.
"We are deeply concerned about the situation in Gaza with mounting civilian casualties and the possibility of a humanitarian catastrophe," the Singapore Foreign Ministry said in a statement.
"We urge all parties to exercise maximum restraint and work towards an early re-establishment of the ceasefire," it said.
Singapore slashes interest rates to spur local businesses
Submitted by Mohit Joshi on Wed, 12/31/2008 - 13:33.
Singapore - Singapore is slashing interest rates by more than a full point and increasing its share of insurance premiums on officially approved business loans, news reports said Wednesday.
The rate cut of 1.25 per cent and increased coverage of loan insurance to 90 per cent from 50 per cent will be effective as of effective as of January 1, 2009, officials said.
Singapore prime minister warns of difficult 2009
Submitted by Mohit Joshi on Thu, 01/01/2009 - 11:44.
Singapore - Singapore's open economy cannot avoid being hit by the global economic recession and will face difficult prospects this year, Prime Minister Lee Hsien Loong warned in his New Year's message delivered Wednesday night.
The global economic recession, the most serious in 60 years, would be followed not by a quick rebound, but by several more years of slow growth, Lee cautioned. He said he expected the first half of this year to be difficult for Singapore with more companies downsizing, resulting in job losses.
Singapore prepares climate change impact report
Submitted by Mohit Joshi on Thu, 01/01/2009 - 12:22.
Singapore - Environment experts are expected to release a climate change report on Singapore this year, highlighting the impact on coastal erosion, water scarcity and higher energy demand, according to a news report Thursday.
Even though there are no melting icebergs or severe droughts threatening the city state, in Singapore, the tropical island could still be vulnerable to climate changes such as coastal erosion, water scarcity, and higher energy demand, the Channel News Asia cited experts as saying.
Singapore lowers economic growth prospects
Submitted by Sahil Nagpal on Fri, 01/02/2009 - 11:24.
Singapore - The Singapore government has lowered the city state's economic growth projection to between minus 2 per cent and plus 1 per cent for 2009, lower than it had forecast in November 2008.
The global economic crisis has worsened since November, with sharp declines in global demand, trade and investments, said the Trade and Industry Ministry in a statement Friday.
In November, the ministry had anticipated growth ranging from minus 1 per cent to plus 2 per cent.
Singapore shares up by 2.16 per cent
Submitted by Mohit Joshi on Fri, 01/02/2009 - 19:46.
Singapore - Singapore shares rose by 2.16 per cent Friday, starting the new year on a positive note though traders remained concerned about the deepening global economic recession.
The Straits Times Index (STI) rose by 38.16 points or 2.16 per cent to 1,799.72.
The Singapore Exchange closed with 305 gainers against 113 losers.
Volume totaled 955.5 million shares.
Market analysts said the first day of 2009 trading brought out buyers, lifting the STI, which for the whole of last year had dropped by 49 per cent.
Singapore sees record high temperatures in 2008
Submitted by Sahil Nagpal on Sat, 01/03/2009 - 11:26.
Singapore - Singapore was hotter last year than the average for the last 50 years, with temperatures averaging 27.5 degrees Celsius, 0.6 degrees Celsius higher than average, The Straits Times reported Saturday.
The report cited the National Environment Agency (NEA) as saying that it was difficult to determine how much of the upward trend in temperature was due to global warming and how much was caused by the city state's rapid development and urbanization over the past 30 years. "But the trend is consistent with rising global temperature levels," a NEA spokesman was quoted as saying.
Foreign workers face tougher times in Singapore
Submitted by Mohit Joshi on Mon, 01/05/2009 - 12:32.Singapore - Foreign workers in Singapore are complaining of salary arrears, with an increasing numbers of them out of work under the impact of economic downturn, according to a news report Monday.
Workers from China and Bangladesh used the Manpower Ministry to intervene and negotiate their salary disputes with employers, the Straits Times reported.
It said 171 of the Chinese had decided to go back to work, 53 were going back to China and two others were taking their claims to the Labour Court.
Some volunteers helping foreign workers said they were seeing more of them coming to seek help.
Singapore shares up by 5.2 per cent
Submitted by Mohit Joshi on Mon, 01/05/2009 - 20:11.Singapore - Singapore shares rose by 5.2 per cent Monday but traders were wary of corporate performances with some listed companies having issued profit warnings and others reviewing investments in new projects.
The Straits Times Index rose by 95.16 points, or 5.2 per cent, to close at 1,924.87.
The Singapore Exchange closed with 385 gainers against 130 losers. Volume totaled 1,848.4 million shares.
Monday's trade kept an upward price trend but corporate performances and reports of cancellation of planned investments were a major concern, analysts said. (dpa)
Mum faces jail for having son caned by stepfather
Submitted by Mohit Joshi on Tue, 01/06/2009 - 12:24.
Singapore - A Singapore mother faces a four-year jail term and a fine for having her 10-year-old son caned about 100 times during a marathon beating in 2007, the Straits Times reported Tuesday.
The woman, 39, had handed two rattan canes to her husband, the boy's stepfather, which he used to hit the boy on the buttocks, arms and back for two hours on September
15, 2007, in the family's apartment located in the northern Singapore public housing estate.
The boy was hospitalized for eight days after the lashing, a punishment for lying to his school teacher.
Father sentenced to prison for raping daughter
Submitted by Mohit Joshi on Tue, 01/06/2009 - 12:36.
Singapore - A Singaporean man was jailed for 16 years and to be beat with 18 strokes of the rattan cane for raping his mildly retarded 11-year old daughter, the Straits Times reported Tuesday.
The 40-year old father, who is also mildly retarded, sobbed as he pleaded guilty to the December 2006 rape following months of denial.
The case came to light last April after his two other daughters reported having been molested by their uncle, their late mother's bother, who faces a separate charge next month.
UNICEF warns of effects of financial crisis on children
Submitted by Sahil Nagpal on Tue, 01/06/2009 - 16:00.
Singapore - Governments should not abandon women and children who need their help most, even as tax revenues shrink because of the global financial crisis, the UN warned Tuesday.
Anupama Rao Singh, UNICEF director for East Asia and the Pacific, urged governments not to forget those dependent on public aid.
"The UN Convention on Children's Rights, which has been ratified by all nations, is clear: children should get help first, especially in economically difficult times," Singh told a Singapore conference.
Singapore exchange reports record derivative and fund volume
Submitted by Sahil Nagpal on Tue, 01/06/2009 - 17:44.Singapore - The Singapore Exchange Limited (SGX) Tuesday said its derivatives and Exchange Traded Funds (ETF) markets set new trading records last year with volume surging to 62 million contracts, up by 38 per cent from 2007.
By September 2008, turnover in the total futures and options market had already surpassed that for the whole of 2007. This was followed by a record month in October, when 6,863,420 contracts were traded, said SGX.
Total trading value of SGX-listed ETFs in 2008 was 2.94 billion Singapore dollars (1.995 billion US dollars), a 155 per cent increase over 1.15 billion Singapore dollars registered in 2007.
Abu Dhabi delegates study Singapore's city-state approach
Submitted by Sahil Nagpal on Wed, 01/07/2009 - 12:36.
Singapore - A delegation from Abu Dhabi is studying Singapore's approach and experiences in tackling many of the challenges of a city state including the threat of terrorism and developing new niches for economic growth, a news report said Wednesday.
Twenty-one delegates are attending a forum where Singapore officials explain the city state's best practices and how it has prepared to tackle terrorism and the 2003 outbreak of Severe Acute Respiratory Syndrome (SARS).
Singapore shares down by 2.82 per cent
Submitted by Mohit Joshi on Thu, 01/08/2009 - 19:46.
Singapore - Selling pressure pushed Singapore shares prices down by 2.82 per cent on Thursday.
The Straits Times Index fell 52.97 points to 1,827.61.
The Singapore Exchange closed with 270 losers against 121 gainers.
Volume was thin, totaling 991 million shares.
Traders attributed the decline in prices to a region-wide downward trend due to profit taking and growing concerns about deepening global economic recession. (dpa)
Singapore police arrest 15 foreign women at massage parlours
Submitted by Mohit Joshi on Fri, 01/09/2009 - 15:05.
Singapore - Singapore police have arrested 15 foreign women in an operation against five unlicensed massage parlours this week, according to a news report on Friday.
The women were arrested on Wednesday and Thursday for allegedly working on invalid visas.
Their nationalities were not disclosed by police.
Police are also investigating the operators of the parlours.
Singapore to prosecute companies for not paying foreign workers
Submitted by Mohit Joshi on Mon, 01/12/2009 - 11:41.
Singapore - The Singapore government is prosecuting a local company for not paying its foreign workers on time and providing them with inadequate accommodation, a news report said on Monday.
The Manpower Ministry said it would be prosecuting marine barge builder Tipper Corporation for irregularities involving the salaries of 421 foreign workers, mostly Bangladeshis.
Four other companies are facing similar charges relating to foreign workers' wages, proper accommodations and medical care.
Man, 70, charged with torching Singapore lawmaker
Submitted by Mohit Joshi on Mon, 01/12/2009 - 15:59.Singapore - A 70-year-old man faced a court Monday, charged with grievously harming a Singapore legislator by pouring paint thinner over him and setting it alight during a Sunday afternoon community club event.
Ong Kah Chua, a former taxi driver, was remanded in the custody of the Institute of Mental Health and is to reappear in court on January 23, Channel News Asia reported. He is accused of attacking Member of Parliament Seng Han Thong at the club, causing burns to 10 to 15 per cent of his body.
Also injured during the incident was the 69-year-old chairman of a Chinese temple, Aw Chui Seng.
News reports said Seng, 59, had undergone skin grafts at a local hospital after suffering severe burns to his face, arms and upper body.
Singapore: Political protests nixed work permit renewals
Submitted by Mohit Joshi on Tue, 01/13/2009 - 12:48.Singapore - The Singapore government has explained its decision not to renew the work permit of two Myanmar nationals, saying they had gone beyond the law allowed in staging political protests.
The case involves two Myanmar nationals, Moe Kyaw Thu and Win Kyaw, who were part of a group that held a protest march against their country's ruling junta during the 2007 Asean summit held in Singapore, according to a Tuesday report in Straits Times citing an online posting of one of the Singapore protestor.
Singapore contractor sends back Bangladeshi workers
Submitted by Sahil Nagpal on Wed, 01/14/2009 - 12:28.Singapore - A Singapore sub-contactor is sending back 55 Bangladeshi workers, citing lack of work and projects due to the economic slowdown, according to a news report Wednesday.
Tunnel & Shaft said it has worked out compensation of 1,000 Singapore dollars (673 US dollars) per worker. However, the workers would have to return 500 Singapore dollars (336 US dollars) if re-employed.
The company was sending the workers home for two months and hopes to bring them back when the economy picks up, according to the Straits Times.
The Bangladeshis were recruited last year, with some of them just two months into employment. Some were quoted as saying they were left with an outstanding debt of
Singapore to chair APEC and lead economic discussions
Submitted by Mohit Joshi on Wed, 01/14/2009 - 16:17.Singapore - Singapore Wednesday said it would discuss with other Asia-Pacific Economic Cooperation (APEC) member economies measures to support economic growth, address the global economic crisis, accelerate regional economic integration, and resist protectionism this year.
Singapore, as APEC chairman, would bring together, for the first time, APEC trade and finance senior officials, in February and July, to discuss fiscal and monetary measures to help businesses and workers tide over the economic crisis, the city state's Trade and Industry Ministry said.
Previously, APEC trade and finance senior officials have had separate meetings on their respective trade and finance agendas.
Singapore shares down by 3.4 per cent
Submitted by Mohit Joshi on Thu, 01/15/2009 - 19:33.Singapore - Singapore shares dropped by 3.4 per cent Thursday amid generally gloomy regional market news and overnight falls on Wall Street.
The Straits Times Index fell by 60.66 points or 3.4 per cent to 1,704.06.
The Singapore Exchange closed with 357 losers against 105 gainers.
Volume was 1,069.5 million shares.
Analysts said speculators forced a price correction on Thursday at the Singapore Exchange which had made recovery on Wednesday after a six straight days of losses.
Singapore NGOs call for compensating foreign workers
Submitted by Mohit Joshi on Fri, 01/16/2009 - 11:57.
Singapore - Two Singapore non-governmental organizations (NGOs) have called for adequate compensation for foreign workers, a growing number of whom are being left with unpaid wages or without jobs, proper accommodation and meals, news reports said Friday.
NGO Transient Workers Count Too (TWC2) said some 800 workers, who had no access to work since they were brought into Singapore, were abandoned by their employers and had not been paid their due salaries, according to a report by the Channel News Asia.
Singapore's foreign trade grew by 9.6 per cent in 2008
Submitted by Sahil Nagpal on Fri, 01/16/2009 - 17:07.
Singapore - Singapore's total trade grew by 9.6 per cent last year, boosted by higher oil prices in the first three quarters, the city-state's trade promotion agency reported on Friday.
Total exports increased by 5.8 per cent while imports rose by 14 per cent for last year, International Enterprise Singapore said.
But non-oil domestic exports declined by 7.9 per cent due to lower demand in the main markets of the United States, the European Union and Malaysia for electronics and other goods. (dpa)
Singapore to revise economic growth estimates
Submitted by Sahil Nagpal on Sat, 01/17/2009 - 11:40.
Singapore - Singapore Prime Minister Lee Hsien Loong said the city state's economic growth projections for this year would be revised to reflect the economic downturn as the economies of major trading partners have taken a turn for the worse, news reports said on Saturday.
"Growth numbers have come down all over Asia. The trade numbers have come down very drastically all over Asia," the Channel News Asia quoted Lee as saying.
Singapore mulls the use of national reserves to tackle recession
Submitted by Mohit Joshi on Mon, 01/19/2009 - 13:20.
Singapore - Singapore is considering the use of its national reserves this year to provide a muscular response to the deepening economic recession, especially to help cut business costs and save jobs, according to news reports on Monday.
The city state's Senior Minister Goh Chok Tong said this would be the first time ever that the government would dip into the national reserves, considered sacred cows.
It would be to fund the aggressive pain-relief measures in this downturn, Goh said.
Singapore signs open-skies pact with Czech Republic
Submitted by Mohit Joshi on Mon, 01/19/2009 - 19:11.
Singapore - Singapore said Monday it had signed with the Czech Republic an open-skies agreement providing full flexibility on air services operated by carriers of both countries.
The pact allows Singapore carriers to operate any number of flights between Singapore and points in the Czech Republic, as well as beyond the Czech Republic to any other city in the world, the Civil Aviation Authority of Singapore said in a statement.
Carriers from the Czech Republic would also be able to operate any number of flights to and beyond Singapore, it added.
Singapore launches Islamic bond programme
Submitted by Mohit Joshi on Mon, 01/19/2009 - 20:50.
Singapore - Singapore's central bank on Monday launched a 200-million-Singapore-dollar (134-million-US-dollar) Islamic bond programme to promote the growth of Islamic finance in the city-state.
The bonds, called sukuk, are the first to be offered in a local currency by a non-Muslim-majority country.
"This sukuk is the sharia-compliant equivalent of Singapore government securities and is of the highest credit standing," said Heng Swee Keat, managing director of the Monetary Authority of Singapore, its central bank.
Singapore expects drop in foreign investments
Submitted by Mohit Joshi on Tue, 01/20/2009 - 12:12.
Singapore - Foreign investment in Singapore is expected to drop by almost half to about 10 billion Singapore dollars (6.66 billion US dollars) this year due to the global credit crunch, according to local news reports on Tuesday.
This year's foreign investment estimate by the Economic Development Board excludes projects that were put off due to the worldwide recession, the reports said, adding that 20 per cent of the projects were postponed and 2 per cent were cancelled outright last year.
Singapore court jails Ghanian in credit card scam
Submitted by Sahil Nagpal on Thu, 01/22/2009 - 13:47.
Singapore - A Ghanian national was jailed for 12 years by a Singapore court for using nearly 100 credit and debit cards and withdrawing 51,610 Singapore dollars (34,530 US dollars) in a card-cloning operation, a newspaper reported Thursday.
Essien Emmanuel, 33, had pleaded guilty to running the operation from his apartment, using information provided through the internet by a Britain-based co-conspirator, the Straits Times said.
Emmanuel was arrested on June 19 with his wife. Police have since recovered 10,840 Singapore dollars from Emmanuel, the report said.
Singapore unveils resilience package budget to manage recession
Submitted by Mohit Joshi on Thu, 01/22/2009 - 20:09.
Singapore - Singapore Finance Minister Tharman Shanmugaratnam Thursday presented a 20.5-billion-Singapore-dollar (13.74-billion-US-dollar) budget for financial year 2009, focusing on preserving jobs and supporting businesses in the city state.
He said the budget, which he referred to as a resilience package, would help Singapore through the exceptionally difficult year ahead, but would not help it get out of the economic recession.
However, the budget, for fiscal year April 1, 2009-March 31, 2010, would help avert an even sharper downturn and the more lasting damage to the economy, the minister told parliament.
Sentence upheld against armpit fetishist in Singapore
Submitted by Mohit Joshi on Fri, 01/23/2009 - 13:13.
Singapore - A 14-year prison sentence was upheld against a 37-year-old Singaporean with an urge to sniff and suck the armpits of women he molested, a newspaper reported Friday.
Chief Justice Chan Sek Keong called Mohammed Ismail Arifin a "big risk to society - not only to the adults but also the young girls" and upheld the prison term imposed in June by a district court on 10 charges, the Straits Times said.
But Chan reduced Mohammed Ismail's caning sentence to 12 strokes from 18 because, Chan said, he did no real violence to his victims.
Singapore and Iceland concludes open skies pact
Submitted by Mohit Joshi on Fri, 01/23/2009 - 17:12.
Singapore - Singapore said Friday it has concluded an open skies agreement (OSA) with Iceland allowing their respective national airlines to operate between and beyond the two countries.
The OSA has no restrictions on capacity, frequency and type of aircraft to be used by the two countries national carriers.
To date, Singapore has concluded more than 30 bilateral OSAs.
As of January 1, 2009, Singapore's Changi Airport is served by 83 scheduled airlines, operating more than 4,600 flights a week to 190 cities in 60 countries. (dpa)
Singapore announces multibillion-dollar stimulus plan
Submitted by Mohit Joshi on Fri, 01/23/2009 - 18:18.
Singapore - The Singapore government on Friday announced an 11-billion-Singapore-dollar (7.3-billion-US-dollar) plan of financial schemes aimed at stimulating lending to a broader range of enterprises during the current economic downturn.
About 142,000 companies, or 99.7 per cent of all enterprises based in Singapore, would be eligible for the schemes, which would be effective for one year from February
1, the Trade and Industry Ministry said.
Singapore Flyer restarts operation after safety check
Submitted by Mohit Joshi on Mon, 01/26/2009 - 18:33.
Singapore - The Singapore Flyer, the city-state's giant observation wheel, was restarted at Monday mid-morning after obtaining a Public Entertainment Licence late Sunday night.
The authorities have approved a certification report submitted by internationally technical service provider TÜV SÜD, which conducted days of rigorous testing of the huge wheel's newly installed backup system, a statement from the Singapore Flyer said.
An independent secondary drive system has been installed at the Flyer, Singapore's latest tourist attraction.
Changi Airport says 2008 passenger traffic up 2.7 per cent
Submitted by Mohit Joshi on Wed, 01/28/2009 - 14:28.
Singapore - Passenger volume at Singapore's Changi Airport increased by 2.7 per cent year-on-year to 37.7 million despite the global economic slowdown towards the second half of 2008, the Civil Aviation Authority of Singapore (CAAS) said Wednesday.
However, the economic impact was felt in the cargo sector, with airfreight movements dipping 2 per cent to 1.86 million tons last year.
Singapore shares up by 4.8 per cent
Submitted by Sahil Nagpal on Wed, 01/28/2009 - 19:56.
Singapore - Singapore shares rose 4.8 per cent Wednesday as buyers returned from Chinese New Year holidays.
The Straits Times Index rose by 80.85 points to 1,766.08 as buyers rode an upswing on the US and regional exchanges.
The Singapore Exchange closed with 266 gainers against 107 losers on thin trading volume of 646.1 million shares. (dpa)
Singapore Airlines to cut flights
Submitted by Mohit Joshi on Wed, 01/28/2009 - 20:37.
Singapore - Singapore Airlines announced Wednesday it will reduce flights on some routes in response to flagging demand.
The airline plans to cut back on flights to main destinations in India, Europe, the United States, South-east Asia and the Middle East, it said in a statement.
"Changes to capacity throughout the network will continue going forward, in an effort to better match capacity with demand, in view of the economic downturn," it said. (dpa)
DBS CEO Stanley diagnosed with leukemia
Submitted by Mohit Joshi on Thu, 01/29/2009 - 17:11.
Singapore - Singapore bank DBS Group Holdings said Thursday its Chief Executive Officer Richard Stanley has been diagnosed with acute myelogenous leukemia and will be commencing medical treatment immediately.
Stanley, 48, was admitted to a Singapore hospital on Tuesday, after he felt ill last Friday, said DBS in a statement.
Prior to joining DBS in May 2008, Stanley was certified with a clean bill of health, said the statement.
Singapore seized 44 kilograms of heroin in 2008
Submitted by Mohit Joshi on Fri, 01/30/2009 - 11:33.
Singapore - Singapore's Central Narcotics Bureau (CNB) has seized 44.2 kilograms of heroin last year, up from 17.2 kilograms seized in 2007, the Straits Times reported Friday.
A shipment of 11 kilograms of the higher-grade Heroin number 4, bound for the European market, was seized in June, said the daily, adding that the specific drug was not common in Singapore and it was the biggest seizure of its kind in the last 10 years.
The CNB also busted 25 drug trafficking syndicates in 41 operations in 2008. It said most of the heroin came from poppy yields in Thailand and Myanmar.
AllGreen To Set Up 10 Biomass Energy Plants In India
Submitted by Darpana Kutty on Fri, 01/30/2009 - 11:55.
The power ministry revealed that the utilization of biomass resources could soon be increased for the generation of electricity.
According to ministry, in India, the electricity generated from renewable sources presently stands at about 13,200 MW out of the total electricity production of 147,400 MW.
Of this, the usage of biomass resources for generating electricity is just 650 MW as opposed to a potential of 16,000 MW.
Singapore manufacturers see weak first half 2009
Submitted by Sahil Nagpal on Fri, 01/30/2009 - 13:53.
Singapore - Singapore's manufacturing sector is expecting a weak first half of this year due to the rapid decline in global economic conditions, the city state's Economic Development Board (EDB) said Friday.
The weak business sentiment is broad-based, affecting all clusters in the manufacturing sector.
Singapore court jails Filipino on fraud charge
Submitted by Mohit Joshi on Sat, 01/31/2009 - 15:55.
Singapore - A Filipino woman was sentenced to four years in prison for trying to defraud a bank of 100 million Singapore dollars (66.21 million US dollars) with a fake certificate of deposit that was originally in the name of former Philippines president Ferdinand Marcos' son.
Lee: Government will help all needy to tackle economic crisis
Submitted by Sahil Nagpal on Mon, 02/02/2009 - 13:38.
Singapore - Prime Minister Lee Hsien Loong has assured Singaporeans that his government would help the needy tackle the economic crisis, media reports said Monday.
"We will make sure that everyone who needs help will get help, and everyone who makes the effort to help himself and his family, we will make sure he is all right," Lee said Sunday night at a Chinese New Year dinner in his ward in Ang Mo Kio.
Singapore tourism sees records despite fewer visitors in 2008
Submitted by Sahil Nagpal on Wed, 02/04/2009 - 11:57.
Singapore - The Singapore tourism industry hit some records in 2008 even though visitor numbers fell and tourism spending fell short of targets.
The city-state welcomed 10.1 million visitors last year, 1.6 per cent fewer than in 2007 and below the 10.8 million target set for 2008, media reports said Wednesday.
According to the Singapore Tourism Board, the decline in visitor arrivals reflected the impact of the global economic slowdown on consumer sentiment and discretionary spending.
Singapore housewife gets 10 months in jail for scalding maid
Submitted by Mohit Joshi on Thu, 02/05/2009 - 13:28.Singapore - A Singapore housewife was sentenced to 10 months in jail for scalding her maid and sending her home to Indonesia without medical attention, media reports said Thursday.
A district judge found the accused, a 40-year-old mother of three, guilty of pouring hot water onto the back of her maid.
According to the public prosecutor, the maid, now 26, suffered second-degree burns to her neck, back and left shoulder that left her body blistered.
The housewife was also accused of trying to cover up the May 15, 2006, incident, by sending her maid back to Indonesia, the Straits Times newspaper reported.
Former BHP boss Goodyear to lead Singapore Temasek
Submitted by Mohit Joshi on Fri, 02/06/2009 - 20:07.
Singapore - Ho Ching, the chief executive officer of Singapore's state investment company Temasek Holdings (Pte) Ltd, will step down and be replaced by Charles W Goodyear, the former boss of the global resources company BHP Billiton, Temasek announced Friday.
Goodyear, a 51 year old US-citizen, was to succeed Ho on October 1, 2009, the company said. He already joined the Temasek board and will assume the position of CEO-designate on March 1.
Ho, the wife of Singapore's Prime Minister Lee Hsien Loong, has been CEO of Temasek since January 2004.
SingTel extends regional mobile customer base by 35 per cent
Submitted by Sahil Nagpal on Mon, 02/09/2009 - 18:09.
Singapore - Singapore Telecommunications (SingTel) extended its regional mobile customer base by 35 per cent, or 61 million, to 232 million subscribers, the company said Monday.
Despite stiff competition and the global economic crisis, SingTel mobile subscribers in the region reached 232 million on December 31, 2008, the company said in a statement.
Litterbugs in Singapore face harsher penalties as problem worsens
Submitted by Mohit Joshi on Tue, 02/10/2009 - 12:43.
Singapore - Facing a record number of litterers in a city which is regarded as one of the cleanest worldwide, the Singapore government is to implement heavier fines for smokers dropping cigarette butts or car drivers leaving parking coupons on the street.
From April 1, first-time offenders are to pay 300 Singapore dollars (200 US dollars) for failing to dispose small items in litter bins, 100 Singapore dollars more than before, media reports said on Tuesday.
SingTel third-quarter profit falls 16 per cent
Submitted by Sahil Nagpal on Tue, 02/10/2009 - 13:05.
Singapore - Singapore Telecommunications (SingTel), South-East Asia's leading communications group, posted a 16-per-cent drop in quarterly net profit on Tuesday, attributing the result mainly to the strength of the Singapore dollar against the major regional currencies of countries where it operates.
Net profit for the third quarter of the current fiscal year was 799 million Singapore dollars (532 million US dollars), compared to 952 million Singapore dollars for the same October-December period a year earlier, SingTel reported.
Singapore's NOL reports quarterly loss due to global economic slump
Submitted by Mohit Joshi on Tue, 02/10/2009 - 20:18.Singapore - Singapore container shipper and logistics group Neptune Orient Lines (NOL) posted a net loss of 149 million US dollars for the fourth quarter of 2008 due to a rapid drop in cargo volume following the global economic downturn, the company said on Tuesday.
In the same period from October to December 2007 NOL reached a net profit of 196 million US dollars.
"The severity of the collapse in global trade over recent months is without precedent. Since late September 2008, we have seen a consistent, week-by-week drop in shipment levels across nearly all trade routes," NOL Group President and Chief Executive Officer Ron Widdows said in a statement.
Singapore Airlines profit down 43 per cent in third quarter
Submitted by Mohit Joshi on Tue, 02/10/2009 - 23:47.
Singapore - Singapore Airlines, one of the world's leading carriers, reported Tuesday a 43-per-cent slump in its third-quarter net profit because of weaker passenger and cargo business and losses in fuel hedging.
The net profit from October to December was 337 million Singapore dollars (225 million US dollars), down from 590 million Singapore dollars in the same period of 2007, the company said.
Singapore wife charged with arsenic poisoning of husband
Submitted by Sahil Nagpal on Wed, 02/11/2009 - 11:57.
Singapore - Singaporean police is investigating the case of 68-year old woman accused of poisoning her ailing husband with arsenic, the Straits Times reported Wednesday.
Doctors treating the husband in 2006 discovered that the 70-year-old had patchy skin on his arms, which was then diagnosed as an effect of arsenic poisoning.
Singapore plans 60-billion-US-dollar tourism relief package
Submitted by Mohit Joshi on Wed, 02/11/2009 - 18:35.
Singapore - The Singapore Tourism Board on Wednesday announced a 90-million-Singapore-dollar (59.71-million-US-dollar) initiative to help the local tourism sector ride out the global economic downturn as the city-state was expecting a drop in tourism arrivals.
Stimulus packages see loans double in Singapore
Submitted by Mohit Joshi on Wed, 02/11/2009 - 20:56.
Singapore - Loan approvals nearly doubled in Singapore from December to January after the government implemented a series of stimulus measures in the past several months, a news report said Wednesday
Loans rose to 411 last month, and more than 265 million Singapore dollars (175.97 million US dollars) of loans have been given to almost 800 companies since the government-initiated schemes started in December, Channel News Asia said, citing the enterprise development agency SPRING Singapore.
Ninety-eight per cent of that amount was given to small and medium-sized enterprises, the government agency said.
Singapore sets up 2.8-billion-dollar export promoting scheme
Submitted by Mohit Joshi on Thu, 02/12/2009 - 14:33.
Singapore - Singapore Thursday announced a 4.2-billion-Singapore-dollar (2.78-billion-US-dollar) financing scheme that is projected to generate 14.4 billion Singapore dollars' worth of trade and 1.6 billion Singapore dollars worth of overseas investments this year.
Some 2,500 companies would benefit from the scheme in the form of loans, said the International Enterprise (IE) Singapore, the city state's trade promotion agency.
Singapore to send ship to aid anti-piracy efforts in Gulf of Aden
Submitted by Mohit Joshi on Thu, 02/12/2009 - 16:39.Singapore - Singapore will send a landing ship tank, with two Super Puma helicopters, to the Gulf of Aden as part of its contribution to the international community's anti-piracy efforts, the city state's parliament was told Thursday.
Defence Minister Teo Chee Hean said the Singapore ship would be deployed for three months with the newly formed multi-national Combined Task Force 151 to protect shipping in the Gulf of Aden. The ship and helicopters would be deployed once the operational arrangements have been made.
Singapore, as a maritime nation, shares the concerns of the international community regarding piracy, explained Teo, stressing that the island city was committed to supporting international efforts to keep the sea lanes safe and secure.
Tata Communications to pump $430 million; Stock neglects move, dips 2%
Submitted by Bharat Ghai on Fri, 02/13/2009 - 06:52.
India's Tata Communications, a leading provider of a communication infrastructure, has revealed its USD 430 million strategic investment plan for Asia Pacific (APAC) region.
The investments include developing the Tata Communications Exchange, a new world-class Internet Data Center (IDC), and the completion of the main segment of its TGN-Intra Asia Cable System.
It may be noted that, these investments are key part of the company's $2 billion expansion plan over three years to enhance its global infrastructure.
Singapore uncle who abused girls sentenced to 18 years, caning
Submitted by Sahil Nagpal on Sat, 02/14/2009 - 12:01.
Singapore - A Singapore man was sentenced to 18 years in prison and 16 strokes of the cane for sexually abusing two of his nieces, the father of whom was also jailed for raping one of the girls, a newspaper reported Saturday.
The Singapore High Court was told Friday that the cleaner, 39, who was taking care of his sickly sister's daughters, began abusing the eldest girl in 2001 when she was 9, the Straits Times said
The abuse ended in 2005 when the girl threatened to tell her teacher and farther about it.
Singapore to set up migrant workers centre
Submitted by Mohit Joshi on Sat, 02/14/2009 - 13:07.
Singapore - Singapore is setting up a migrant workers centre to help foreign workers who are in disputes with their employers and are at times left stranded without wages, food and shelter, a news report said Saturday.
The centre, to be opened by April, is to be guided by the Migrant Worker Forum, an enterprise of the state-backed National Trades Union Congress and Singapore National Employers Federation.
APEC warns against trade restrictions
Submitted by Mohit Joshi on Mon, 02/16/2009 - 22:27.
Singapore - Senior officials of the Asia Pacific Economic Cooperation (APEC) on Monday emphasized the importance of averting pressure on governments to take measures restricting trade by helping individuals and businesses to tide over the financial crisis.
"There was a strong consensus that restrictions on trade and investment would only deepen and prolong the economic downturn," said Ravi Menon, a top official at Singapore's Trade and Industry Ministry and chairman of the APEC Senior Officials' Meeting, which takes place from February 13 to 26.
Singapore Airlines to reduce capacities
Submitted by Mohit Joshi on Mon, 02/16/2009 - 22:44.
Singapore - Singapore Airlines (SIA) Monday said it planned to reduce capacities by 11 per cent in the coming financial year, which starts in April, owing to a drop in demand.
Citing falling demand, as reflected in advance bookings, SIA said it would decommissione 17 aircraft.
"Before recession hit major markets, the plan was for only four aircraft to be phased out - one for conversion to a freighter, and three to be returned to lessors at completion of lease contracts," it said in a statement.
Cigarette smuggler sentenced to three years
Submitted by Mohit Joshi on Tue, 02/17/2009 - 14:50.
Singapore - A Singapore court sentenced a 22-year-old man to three years in prison Tuesday for smuggling about 14,000 cartons of duty-unpaid cigarettes and not paying tax on the goods, media reports said.
The weight of the cigarettes reached almost 3,000 kilograms. The unpaid duty amounted to 1 million Singapore dollars (650,000 US dollars); the excise tax reached nearly 92,000 Singapore dollars.
Singapore's non-oil exports fell 35 per cent in January
Submitted by Mohit Joshi on Tue, 02/17/2009 - 16:10.
Singapore - Following the global economic slowdown and shrinking demand for electronics and other goods from all it's top markets, Singapore's non-oil domestic exports suffered a year-on-year fall of 35 per cent in January, the International Enterprise (IE) Singapore, the city state's agency to promote external business, reported on Tuesday.
The heavy drop in January followed a year-on-year decline by 21 per cent in December.
Singapore shares finish down 2.5 per cent
Submitted by Mohit Joshi on Tue, 02/17/2009 - 18:38.Singapore - Singapore shares fell 2.5 per cent Tuesday as stock markets tumbled across Asia.
The key Straits Times Index dropped 42.78 points to 1.637.92. The market opened slightly higher in the morning but then steadily lost ground.
The Singapore Stock Exchange closed with 299 losers against 116 gainers. Trading volume reached 887.1 million shares. (dpa)
Great Eastern insurance profit halved due to financial downturn
Submitted by Mohit Joshi on Tue, 02/17/2009 - 23:00.Singapore - Following the global economic downturn, profits at Singapore's largest insurance group, Great Eastern Holdings, halved in 2008, the company said on Tuesday.
Full year profit for 2008 tumbled to 272.4 million Singapore dollars (178.56 million US dollars), a 50 per cent drop compared to the record high of 546.9 million Singapore dollars the group achieved in 2007.
"For 2008, the group's performance was affected by the financial downturn which directly impacted the investment performance of all the funds," the company said in a statement.
For the fourth quarter of 2008, Great Eastern reported a profit of 76.5 million Singapore dollars, a drop of 47 per cent on a year-on-year basis.
Singapore's OCBC Bank posts 30-per-cent drop in quarterly profit
Submitted by Mohit Joshi on Wed, 02/18/2009 - 17:29.
Singapore - Singapore's Oversea-Chinese Banking Corporation (OCBC) on Wednesday posted a 30-per-cent drop in net profit for the fourth quarter of 2008.
Net profit from October to December fell to 301 million Singapore dollars (197 million US dollars) from 428 million Singapore dollars during the same period in 2007, the bank reported.
Singapore police arrests 16 in operation against bookmaking
Submitted by Mohit Joshi on Wed, 02/18/2009 - 19:06.Singapore - Singapore police arrested 16 people suspected of engaging in illegal bookmaking and loansharking during an island-wide operation this week, Singapore police reported on Wednesday.
Investigators said they seized 730,000 Singapore dollars (477,000 US dollars) in cash from the suspects.
The arrested, including six women, are between 29 to 45 years old. Police suspect them to be involved in a crime syndicate.
Preliminary investigations revealed that the syndicate members operated an illegal soccer bookmaking business via the Internet. Some members of the syndicate were also involved in illegal loansharking activities, police said.
Singapore defence minister sees security threats on the rise
Submitted by Mohit Joshi on Wed, 02/18/2009 - 19:15.Singapore - Singapore Defence Minister Teo Chee Hean said Wednesday that worldwide security is threatened by the effects of the global economic downturn, piracy, terrorism and the proliferation of weapons of mass destruction.
Natural disasters and pandemics are now compounded and made more acute by the severe economic crisis the world is facing, Teo added.
Speaking at the Asia-Pacific Intelligence Chiefs Conference in Singapore, Teo said the full impact of the downturn has yet to unfold. Hardships like rising numbers of job losses would create additional social and political stress, and, if not managed properly, could lead to greater friction and tensions between nations.
Singapore premier stresses need for open financial system
Submitted by Sahil Nagpal on Fri, 02/20/2009 - 12:03.
Singapore - Singapore Prime Minister Lee Hsien Long said the city-state's financial system must remain open to the world although the presence of foreign banks poses potential risks in the current economic downturn.
"While we take reasonable safeguards, we must stay open to the world," Lee said Thursday night at a dinner to celebrate Standard Chartered Bank's 150th anniversary in Singapore. "Walling ourselves in does not mean that we would be safe; it just means we will starve."
First jail term for sex with underage prostitute cut on appeal
Submitted by Mohit Joshi on Fri, 02/20/2009 - 18:22.
Singapore - The first man in Singapore to be sentenced for having sex with an underage prostitute under a tougher law had his one-year jail term reduced Friday to nine months on appeal, media reports said.
In December, a district court had initially sentenced the 55-year-old man to one year in jail for having sex with a 16-year-old prostitute.
Singapore shares fall 2.11 per cent
Submitted by Mohit Joshi on Fri, 02/20/2009 - 19:13.
Singapore - Singapore share prices fell 2.11 per cent on Friday as stock markets dropped around Asia.
The benchmark Straits Times Index dropped 34.41 points to 1,594.94 on a volume of 692 million shares worth 699.8 million Singapore dollars.
Decliners led gainers 288 to 130. (dpa)
Google phones to be sold in Singapore from Feb 21 by SingTel
Submitted by Darpana Kutty on Sat, 02/21/2009 - 03:02.
On Friday, an announcement was made by Singapore Telecommunications under which it confirmed that it will commence selling the HTC Dream or Google mobile phone in Singapore from 21st February. This will make Singapore the second market in Asia to witness their launch.
Since the HTC phone comes with preloaded software such as Google Web Search, Gmail and Google Calendar, it is more commonly known as Google phone. Via this new phone, SingTel will also provide subscribers with video-on-demand content.
Singapore youth arrested for SMS terror hoax
Submitted by Sahil Nagpal on Sun, 02/22/2009 - 16:01.
Singapore - Singapore police arrested a 19-year-old man on Saturday in connection with an SMS hoax suggesting a terrorist attack in the city-state, media reports said Sunday.
The text message, which had several variations, said terrorists were planning to bomb the Bugis area and that there were many policemen there. It also advised the public to avoid the area, the Sunday Times newspaper reported.
Singapore Prime Minister Lee expects slow years ahead
Submitted by Sahil Nagpal on Mon, 02/23/2009 - 12:36.
Singapore - Singapore Prime Minister Lee Hsien Loong said the city state has to prepare for tough times ahead and some years of slower economic growth in the aftermath of the global financial crisis.
"So let us prepare for a very tough year ahead, and let us be psychologically ready to think of several slow years after that," media reports quoted Lee as saying at a meeting on Sunday with unionists and employers.
Singapore prime minister expects slow years ahead
Submitted by Sahil Nagpal on Mon, 02/23/2009 - 13:24.
Singapore - Singapore Prime Minister Lee Hsien Loong said the city-state has to prepare for hard times and some years of lower economic growth in the aftermath of the global financial crisis, local media reported Monday.
Lee said it was unlikely that things would return anytime soon to what they were during the boom years from 2004-07, when Singapore's annual economic growth reached an average of 8 per cent, the Straits Times newspaper reported.
Singapore teacher jailed for having sex with former student
Submitted by Mohit Joshi on Mon, 02/23/2009 - 13:41.Singapore - A Singapore court sentenced a former primary school teacher and married woman to 10 months in jail on Monday for having sex with a 15-year-old student, local media reported.
The 32-year-old woman, a mother of two, had developed an intimate relationship with her young charge when he was 14 years old and after they had gone on an overseas school trip.
After the trip they stayed in touch through frequent telephone calls and SMS messages. The woman declared the boy her godson and began showering him with care and attention.
The relationship continued even after he left primary school to go to secondary school.
Singapore stocks rise 2.3 per cent
Submitted by Mohit Joshi on Mon, 02/23/2009 - 18:58.
Singapore - Singapore shares closed up 2.3 per cent Monday as some Asian stock markets got a boost from reports that the US government might expand its stake in the troubled banking giant Citigroup Inc to ease financial turmoil.
The key Straits Times Index rose 35.75 points to 1,630.69.
Gainers beat losers 199 to 181 on volume of 768.6 million shares. (dpa)
Singapore may lose 99,000 jobs by mid-2010: DBS Bank
Submitted by Mohit Joshi on Wed, 02/25/2009 - 14:56.
Singapore - Singapore is likely to experience its worst ever recession and may lose 99,000 jobs by mid-2010, a DBS Bank report said Wednesday.
"Policy measures that have been put forth so far will help to cushion the blows but the worst of the labour market cycle is yet to come," the DBS researchers warned.
On account of the sharp collapse in global demand and export sales, Singapore's economy is likely to experience its worst ever growth rate this year with a GDP contraction of 4.8 per cent.
Singapore court sentences Japanese oil trader to five years
Submitted by Mohit Joshi on Wed, 02/25/2009 - 18:01.
Singapore - A Singapore court sentenced a former trader of Japanese
company Mitsui Oil to five years in jail on Wednesday for hiding some
81 million US dollars of losses after some of his trading bets went
wrong, media reports said.
Noriyuki Yamazaki, 37, pleaded guilty of falsifying accounts between
April and October 2006. He put in false prices for the petroleum
product naphta, which prevented the head office from finding out the
true scale of his losses.
Yamazaki had believed that the prices would turn and that he would be
Singapore taxi driver must pay maximum fine for public pee
Submitted by Mohit Joshi on Wed, 02/25/2009 - 18:31.
Singapore - Giving in to a natural urge in public proved costly for a Singapore taxi driver. The cabby was fined the maximum 1,000 Singapore dollars (655 US dollars) Wednesday for urinating on a road in June, a news report said.
The driver had alighted his taxi and urinated behind an electrical box, the online edition of the Straits Times newspaper said. He ignored shouts by another car driver and his companions to stop.
Eventually, the other driver took down the registration number of his taxi and reported it to authorities. (dpa)
Singapore's economy grew 1.1 per cent in 2008
Submitted by Sahil Nagpal on Thu, 02/26/2009 - 11:57.
Singapore - The Singapore economy grew by 1.1 per cent in 2008, compared with 7.8 per cent a year earlier, the Ministry of Trade said Tuesday.
However, the city-state's gross domestic product (GDP) fell by 4.2 per cent on a year-on-year basis in the fourth quarter after posting flat growth in the third quarter.
On an annualized, seasonally adjusted basis, GDP slumped by 16.4 per cent from October to December last year, following a 2.1-per-cent contraction in the previous quarter, the ministry said.
Singapore man fined for tying up sex worker
Submitted by Mohit Joshi on Thu, 02/26/2009 - 18:20.
Singapore - A Singapore court fined a restaurant manager 500 Singapore dollars (326 US dollars) Thursday for tying up a sex worker who subsequently fell to her death from a window of the man's ninth-floor flat, a news report said.
Edmund Peter Anthony had taken the 27-year-old Thai woman home and had sex with her on October 15, 2007, the online edition of the Straits Times newspaper reported. Before he went to the bathroom, he tied her hands and ankles with neckties.
Singapore court confirms life sentence for Indonesian maid
Submitted by Mohit Joshi on Thu, 02/26/2009 - 22:29.
Singapore - The Singapore High Court confirmed on Thursday a life imprisonment for an Indonesian maid who killed her employer's 75-year-old mother in 2005, media reports said.
The maid, who was identified as Barokah, 29, pushed Wee Keng Wah from their ninth-floor flat after the elderly woman scolded her for sneaking out to meet a man. In 2007, the maid was sentenced to life imprisonment and appealed.
However, a re-hearing into the case did not change the judge's mind, the online edition of the Straits Times newspaper reported. The second hearing was ordered to evaluate if the life sentence was appropriate.
TCS to continue its IT services for Singapore Airlines
Submitted by Shilpa Mahapatre on Fri, 02/27/2009 - 06:43.
Tata Consultancy Services would continue to provide IT services to Singapore Airlines for another three years, providing all basic application solutions to the airlines for its efficient working. The airline chose the Indian IT firm in a formal vendor selection process under existing terms and conditions.
United Overseas Bank posts slump in fourth-quarter profit
Submitted by Mohit Joshi on Fri, 02/27/2009 - 19:06.Singapore - United Overseas Bank, one of Singapore's biggest lenders, on Friday posted a 34-per-cent slump in net profit for the fourth quarter.
Net profit from October to December reached 332 million Singapore dollars (215 million US dollars), down from 506 million Singapore dollars from the same period of
2007, the bank said in a statement.
United Overseas Bank attributed the result to higher writedowns for bad debt and lower income from activities in the capital market.
"As an Asian bank, we are not spared the impact of the global financial turmoil," deputy chairman and chief executive officer Wee Ee Chong said.
Visitor arrivals in Singapore tumble nearly 13 per cent
Submitted by Mohit Joshi on Fri, 02/27/2009 - 19:52.
Singapore - The global economic downturn is putting the brakes on Singapore's tourism industry as visitor arrivals fell 12.9 per cent year-on-year in January to
771,000, the Singapore Tourism Board said Friday.
The average occupancy rate in Singapore's hotels was estimated at 67 per cent last month, a fall of 17.7 percentage points from January 2008.
Room revenue came to 124 million Singapore dollars (80 million US dollars), down 29.9 per cent from January last year.
Visitor arrivals in Singapore tumble nearly 13 per cent
Submitted by Mohit Joshi on Fri, 02/27/2009 - 20:17.Singapore - The global economic downturn is putting the brakes on Singapore's tourism industry as visitor arrivals fell 12.9 per cent year-on-year in January to
771,000, the Singapore Tourism Board said Friday.
The average occupancy rate in Singapore's hotels was estimated at 67 per cent last month, a fall of 17.7 percentage points from January 2008.
Room revenue came to 124 million Singapore dollars (80 million US dollars), down 29.9 per cent from January last year.
Singapore prime minister sees need for global rebalancing
Submitted by Sahil Nagpal on Sat, 02/28/2009 - 11:27.
Singapore - Singapore Prime Minister Lee Hsien Loong said in an TV interview late Friday that there is a need for a rebalancing in the world economy, which could mean a shift away from Asia's current export-driven model.
"There will have to be a global rebalancing because we cannot expect the Americans to be consumers of things made all over the world. And the rest of the world as savers lending money to the US to buy things from you," Lee said in an interview with CNBC television.
Singapore's iconic merlion statue damaged by lightning bolt
Submitted by Sahil Nagpal on Sun, 03/01/2009 - 12:47.
Singapore - Singapore's iconic merlion statue, one of the island state's popular tourist attractions, was hit by a lightning bolt during a thunderstorm and slightly damaged, media reports said Sunday.
The statue, which has the body of a fish and a head of a lion, lost some parts at the top when lightning struck on Saturday, radio station 938Live reported. Nobody was hurt.
One injured, one dead after stabbing at Singapore university
Submitted by Mohit Joshi on Mon, 03/02/2009 - 17:27.
Singapore - A final year student of Singapore's Nanyang Technological University (NTU) stabbed a lecturer Monday morning and then jumped off a building to his death, NTU said in a statement.
The professor is in stable condition. He was rushed to a nearby hospital where he received medical treatment for cuts sustained in the attack.
The student of NTU's electrical and electronic engineering school was pronounced dead after his body had been found at the foot of the seven-storey university building.
Shipping volume at Singapore's Neptune Orient Lines tumbles
Submitted by Sahil Nagpal on Tue, 03/03/2009 - 12:39.
Singapore - Singapore's Neptune Orient Lines (NOL), one of the world's largest container shippers, said Tuesday that its cargo volume for the six weeks to February 6 slumped 35 per cent over the same period last year due to shrinking demand.
From December 27-February 6, NOL moved 188,400 40-foot equivalent units (FEU), down from 289,400 FEU in the same period a year ago, the company said in a statement.
Average revenue per FEU declined 11 per cent to 2,646 US dollars.
Singapore defence chief in Delhi to promote military cooperation
Submitted by Mohit Joshi on Tue, 03/03/2009 - 17:28.New Delhi, Mar 3 : Visiting chief of Singapore defence forces Lieutenant General Desmond Kuek called on Navy chief Admiral Sureesh Mehta here today to discuss ways to bolster military cooperation between the two countries.
After signing pact with India that allows the armed forces of Singapore to train on Indian territory, both countries are all set to expand their bilateral and military ties.
The five-year- bilateral cooperation signed between India and Singapore will see India playing regular host for Singapore armed forces, while Singapore in turn, will allow access to Indian military training facilities.
Singapore court sentences serial predator and rapist to 42 years
Submitted by Mohit Joshi on Tue, 03/03/2009 - 17:42.
Singapore - A Singapore court sentenced a serial predator and rapist to 42 years in jail on Tuesday, the longest prison sentence handed down to a sexual offender in the city state so far, a news report said.
Bala Kuppusamy was also ordered to be caned the maximum fine of 24 strokes.
Between April and June the 48-year-old man robbed and sexually assaulted seven women who were walking alone at night, the online edition of Straits Times newspaper reported.
Singapore Night Safari cancels performances after drug arrests
Submitted by Mohit Joshi on Wed, 03/04/2009 - 22:19.
Singapore - The Singapore Night Safari, one of the city-state's major tourist attractions, cancelled performances Wednesday after dancers of a contracted group from Malaysia had been arrested on suspicion of drug offences.
"Due to unforeseen circumstances, all cultural performances at Night Safari have been suspended until further notice," a statement on the safari's website said. "... Do enjoy the other attractions Night Safari has to offer."
Singapore man jailed three months for hitting schoolboy in bus
Submitted by Mohit Joshi on Thu, 03/05/2009 - 18:22.
Singapore - A Singapore court sentenced a 35-year-old man to three months in jail Thursday for hitting a schoolboy who accidentally stepped on his foot in a packed bus, a news report said.
Ismail Atan punched the boy three times on his forehead in a public bus in September, the online edition of Straits Times newspaper said.
Singapore's first casino complex takes shap
Submitted by Mohit Joshi on Fri, 03/06/2009 - 12:01.
Singapore - The tiny city state of Singapore at the tip of the Malay Peninsula currently boasts what is probably Asia's largest construction site.
Despite the global economic downturn, workers toil here around the clock, seven days a week, to build Singapore's first casino complex.
The Marina Bay Sands is scheduled to open in December and apart from the casino proper it will comprise a convention and exhibition centre, some 300 shops and luxury boutiques, a museum and three hotel towers, each of them 200 metres high, with a combined 2,600 beds.
Singapore cuts Formula One hotel levy to help tourism industry
Submitted by Mohit Joshi on Fri, 03/06/2009 - 19:08.
Singapore - A levy imposed on Singapore's hotels during the 2008 Formula One Grand Prix season is to be reduced this year to help the city-state's ailing tourism industry.
As Singapore's hotels are hit hard by slumping tourist arrivals, the five-night levy that hotels had to pay during the hosting of the inaugural F1 race last year would be reduced to a four-night period, the Singapore Tourism Board said Friday.
The 2009 Singapore F1 Grand Prix is scheduled to get under way in September.
Singapore university sees second apparent suicide in a week
Submitted by Sahil Nagpal on Sat, 03/07/2009 - 18:04.
Singapore - Singapore's Nanyang Technological University was shaken by a second suspected suicide, days after a final-year student stabbed a lecturer and then jumped to his death.
A 24-year-old male Chinese project officer was found dead in a staff apartment Friday night, the university said in a statement Saturday.
The man was found hanged, a police spokeswoman said.
Singapore awards Dutch scientist with Water Prize 2009
Submitted by Mohit Joshi on Mon, 03/09/2009 - 20:44.
Singapore - Singapore will award Dutch scientist Gatze Lettinga with an award of nearly 200,000 US dollars for pioneering an environmentally-sustainable treatment of used water, the prize organizers said in a statement Monday.
Lettinga will receive the Lew Kuan Yew Water Prize 2009, named after Singapore's first prime minister and present minister mentor, in a ceremony in June.
Singapore's merlion statue re-opens in two weeks
Submitted by Mohit Joshi on Mon, 03/09/2009 - 22:37.
Singapore - Singapore's iconic merlion statue, one of the island state's most popular tourist spots, will re-open in two weeks, following some repair work after the attraction was damaged by a lightning bolt on February 28, the Singapore Tourism Board said Monday.
The 8.6-meter-tall statue, which has the body of a fish and a head of a lion, lost some parts at the top when lightning struck during a thunderstorm.
Repair work is targeted for completion by March 21, the board said in a statement.
Stranded sailors try hard to save their face
Submitted by Kai Portmann on Tue, 03/10/2009 - 11:14.
Singapore - Driving on the West Coast Highway along Singapore's port, it's easy to see the signs of recession.
Cranes that usually move containers 24 hours a day have their booms fixed up in the air. "Hands up," the seafarers call it.
The view to the horizon, normally obstructed by huge mountains of containers, is now wide open.
As the shipping industry is hit hard by the global economic downturn, container ships from all over the world lie idle at Singapore's shores.
Singapore shares rise nearly 2 per cent
Submitted by Mohit Joshi on Tue, 03/10/2009 - 19:17.
Singapore - Singapore shares rose nearly 2 per cent on Tuesday, as most Asian stock markets climbed.
The key Straits Times Index ended up 1.98 per cent, gaining 28.80 points to 1,485.75.
Losers beat gainers 201 to 176 in a volume of 972.4 million shares. (dpa)
Singapore bus driver sentenced to death for murder of stepdaughter
Submitted by Mohit Joshi on Thu, 03/12/2009 - 15:46.
Singapore - A Singapore court on Thursday sentenced a private bus driver to death by hanging for the murder of his China-born teenage stepdaughter, media reports said.
Ong Pang Siew, 46, was found guilty of strangling Ong Pan Hui, 15, on October 20, 2007, at her flat, the online edition of the Straits Times newspaper reported.
The murder came a few weeks after the girl's mother was granted a divorce from Ong with her getting custody of the girl and the son the couple bore together.
Myanmar premier to visit Indonesia, Singapore "soon"
Submitted by Mohit Joshi on Fri, 03/13/2009 - 13:11.
Yangon - Myanmar's prime minister, General Thein Sein, is to visit Indonesia and Singapore shortly in response to invitations from the leaders of the two South-East Asian countries, state media reported Friday.
Former cabby unfit to plead after torching Singapore legislator
Submitted by Sahil Nagpal on Fri, 03/13/2009 - 17:28.
Singapore - A former taxi driver who supposedly torched a Singapore legislator at a community club event in January has been found to be of unsound mind and unfit to plead, media reports said Friday.
Ong Kah Chua, 70, has been remanded in a mental hospital pending a minister's order, after being diagnosed to be suffering from delusional disorder, the online edition of Straits Times newspaper reported.
Singapore court fines Danish man for bad behaviour during flight
Submitted by Mohit Joshi on Fri, 03/13/2009 - 17:31.
Singapore - A Singapore court on Friday fined a Danish aircraft engineer a total of 1,200 Singapore dollars (780 US dollars) for being drunk and behaving in a disorderly manner on board a Singapore Airlines flight, news report said.
Kim Borch Petersen, 39, pleaded guilty to being drunk on board the flight from London to Singapore on Thursday and also admitted to shouting, uttering vulgarities and pushing a steward, the online edition of Straits Times newspaper reported.
Singapore's retail sales plunge in January
Submitted by Mohit Joshi on Fri, 03/13/2009 - 18:44.
Singapore - Singapore's retail sales dived in January as shoppers turned their backs on expensive goods amid the city-state's worst recession in decades.
Retail sales in January were 12.2 per cent lower than in the same period last year, the Department of Statistics said in a statement Friday.
Compared with January 2008, the drops in sales of motor vehicles, watches and jewellery, furniture, household equipment and technical items varied from 14.5 per cent to 31.7 per cent.
Singapore shares end week up 5.6 per cent
Submitted by Mohit Joshi on Fri, 03/13/2009 - 18:48.Singapore - Singapore shares surged 5.62 per cent Friday as a bounce on Wall Street helped to ease pressure on the market.
The key Straits Times Index rose 83.99 points to 1,577.52.
Gainers beat losers 299 to 136 on volume of 1.38 billion shares. (dpa)
Singapore court jails former airforce sergeant for abusing maid
Submitted by Mohit Joshi on Fri, 03/13/2009 - 22:32.
Singapore - A Singapore court on Friday sentenced a former airforce sergeant to 20 months in jail for physically abusing his Indonesian maid, media reports said.
Tong Chew Wei, 31, was also ordered to pay the victim, Nana Widayanti, 6,480 Singapore dollars (4,200 US dollars), the online edition of Straits Times newspaper reported.
Tong was convicted on seven charges for abuse that took place between December 2006 and February 2007.
Container traffic in Singapore port drops by nearly 20 per cent
Submitted by Mohit Joshi on Sat, 03/14/2009 - 12:29.
Singapore - Container traffic in Singapore's port slumped 19.8 per cent in February compared with a year ago as the shipping industry is hit hard by the ongoing decline in worldwide trade.
The container traffic through the city-state's port reached 1.85 million 20-foot equivalent units in February, down from
2.31 million units in February last year, according to preliminary estimates published Saturday on the website of the Maritime and Port Authority Singapore.
Singapore takes editor of Wall Street Journal to court
Submitted by Mohit Joshi on Sat, 03/14/2009 - 12:23.Singapore - The Singapore government is taking an editor of The Wall Street Journal to court over three articles that it said showed contempt for the city-state's judiciary, a news report said Saturday.
A judge in the High Court granted an application by the attorney general to start proceedings against Melanie Kirkpatrick, a deputy editor with the New York-based business newspaper's editorial page, the Straits Times newspaper reported.
The three articles were published in June and July in the editorials and opinion section of The Wall Street Journal Asia.
Singapore expected to slightly recover by end of 2009
Submitted by Mohit Joshi on Mon, 03/16/2009 - 17:43.
Singapore - Singapore's economy is expected to recover slightly in the final quarter of 2009, just after sliding even deeper into recession during the first three quarters of the year, a survey by the city-state's central bank showed Monday.
A poll of 20 economists and analysts by the Monetary Authority of Singapore in February showed they expect Singapore's gross domestic product (GDP) to fall 8.5 percent in the first quarter 2009 compared to the same period a year ago.
Bayer Schering Pharma sales grow 23 per cent in Asia-Pacific
Submitted by Mohit Joshi on Tue, 03/17/2009 - 17:56.
Singapore - Bayer Schering Pharma Asia-Pacific's sales grew 23 per cent to 910 million euros (1.3 billion US dollars) in 2008 despite the global economic downturn, the company's regional head, Chris Lee, said Tuesday in Singapore.
The growth rate, based on business numbers that excluded Japan, made the subsidiary of Germany-based Bayer Schering Pharma AG "one of the fastest-growing multinational pharmaceutical companies in Asia," Lee said.
Singapore Airlines posts heavy slump in passenger numbers
Submitted by Mohit Joshi on Tue, 03/17/2009 - 18:29.
Singapore - Singapore Airlines (SIA), one of the world's leading carriers, posted a heavy slump in passenger numbers and a decline in cargo shipment Tuesday, as the aviation industry is further hit by the global economic downturn.
In February, SIA carried 1.18 million passengers, down 20.2 per cent from the same month last year, the airline said.
Singapore child molester sentenced to nine years, caning
Submitted by Mohit Joshi on Tue, 03/17/2009 - 18:35.Singapore - A Singapore court on Tuesday sentenced a serial molester who preyed on children and teenagers in lifts to nine years in jail, media reports said.
Ong Wee Siong, 27, who admitted to six charges, will also be caned 18 times, the online edition of Straits Times newspaper said.
The married man followed his victims, girls aged between 8 and 17, into the lifts and then molested them, it said.
Ten years earlier, Ong, a former clothing store manager, was sentenced to three years in jail and six cane strokes for similar offences, the report said. (dpa)
Suspect in Singapore watch theft case surrenders in Bangkok
Submitted by Sahil Nagpal on Wed, 03/18/2009 - 00:51.
Singapore - A former employee of a Singapore luxury watch retailer who allegedly made off with watches worth several million US dollars last Christmas Day surrendered to the authorities in Bangkok on Tuesday, Singapore police reported.
"Jerry Ee ... is currently in the custody of the Royal Thai Police, and more than 200 pieces of the stolen watches were recovered," a statement by Singapore Police Force said.
The 35-year-old, who was on Interpol's wanted list, is suspected of having taken more than 380 watches from expensive designer brands.
Singapore tattooist jailed for participating in disfigurement
Submitted by Mohit Joshi on Thu, 03/19/2009 - 15:36.
Singapore - A Singapore court sentenced a tattoo artist who helped a friend tattoo his wife's breasts, abdomen and forearms for suspected infidelity to two years and 10 months in jail, news reports said Thursday.
The sentence for the tattooist, 41, was two months shorter than the husband's jail term. Like the husband, who was sentenced in 2007, he will also be given six strokes of the cane, the Straits Times newspaper reported.
Singapore court fines Wall Street Journal editor
Submitted by Mohit Joshi on Thu, 03/19/2009 - 17:08.
Singapore - A Singapore justice on Thursday fined an editor of The Wall Street Journal 10,000 Singapore dollars (6,600 US dollars) for three articles that the city-state's government said showed contempt of its judiciary, a news report said.
Melanie Kirkpatrick, a deputy editor of the New York-based business newspaper's editorial page, had acknowledged responsibility for the publication of the articles in The Wall Street Journal Asia that the justice found to be in contempt of court.
Indonesia-Singapore defence, extradition pacts shelved
Submitted by Sahil Nagpal on Fri, 03/20/2009 - 14:16.Jakarta - Indonesia's defence minister accused Singapore of obstructing an extradition treaty because it fears it would have to hand over businessmen who sought refuge in the city-state with huge amounts of illegally gotten money, a news report said Friday.
Juwono Sudarsono also said a defence cooperation agreement with Singapore, negotiated simultaneously with the extradition pact, appeared to have collapsed as well, according to The Jakarta Post.
"They [the agreements] are frozen," Juwono told the Post.
Singapore's poorest hit hardest by rising inflation
Submitted by Mohit Joshi on Mon, 03/23/2009 - 15:37.Singapore - Singapore's poorest were hit hardest by rising prices for food, housing and electricity in 2008, as the city-state's inflation climbed to its highest level in 28 years, data published by the Department of Statistics on Monday said.
Singapore's consumer price index (CPI) for general households rose by 6.5 per cent in 2008, the highest level since
1981 when it came up to 8.2 per cent.
It was more than triple the 2.1-per-cent increase of 2007.
Australian sentenced to jail for throwing wife out window
Submitted by Mohit Joshi on Mon, 03/23/2009 - 19:26.
Singapore - A Singapore court on Monday sentenced an Australian project manager who threw his Thai wife out of their fourth-floor bedroom window to 25 months in jail, media reports said.
The court found Jason John Porteous, 36, who pleaded guilty to attempted manslaughter, to have been suffering from depression and alcoholism at the time of the May 17 incident.
Porteous was originally accused of attempted murder, but after a psychiatric assessment the charge was lessened.
Singapore shares end 2.5 per cent higher
Submitted by Mohit Joshi on Tue, 03/24/2009 - 18:45.
Singapore - Singapore shares climbed 2.54 per cent Tuesday, as stock markets around Asia posted a second straight day of gains.
The key Straits Times Index rose 42.26 points to 1,706.34.
In the broader market, gainers beat losers 291 to 163 on a volume of 1,701.5 million shares. (dpa)
Singapore allows payment for living organ donors
Submitted by Mohit Joshi on Wed, 03/25/2009 - 14:18.
Singapore - Singapore's parliament passed controversial legislation which allows reimbursement of living organ donors, media reports said Wednesday.
After a heated two-day debate, in which some legislators raised concerns that the new law might lead to open organ trading, four of the 84 members of parliament abstained the final vote and one voted against, the Straits Times newspaper reported.
Eighty-two legislators in Singapore's parliament are from the People's Action Party, which has ruled the city-state since independence in 1965.
Singapore couple charged with severe maid abuse
Submitted by Mohit Joshi on Wed, 03/25/2009 - 17:39.
Singapore - A Singapore court on Wednesday charged a property agent with seriously hurting the eye of his Indonesian maid and 10 other counts of maid abuse, a news report said.
Lim Beng Tai, 38, is charged with several beatings of the maid, identified as Ms Jasmiati, 25, the online edition of Straits Times newspaper reported.
Lim's wife, Connie Ng Lay Har, also 38, is accused of punching the maid once and slamming the victim's right hand in a car.
India, Singapore’s annual naval exercise begins
Submitted by Mohit Joshi on Wed, 03/25/2009 - 22:52.
New Delhi, Mar. 25 : The annual bilateral naval exercises between the Indian Navy and the Republic of Singapore Navy `SIMBEX 2009' commenced in the Andaman Sea on Wednesday.
SIMBEX, an acronym for `Singapore India Maritime Bilateral Exercise', was formalised a decade-and-a-half ago, when RSN ships began training in Anti-Submarine Warfare (ASW) with the Indian Navy, in 1994.
As a part of the 16th annual SIMBEX, exercise units will also exercise in the South China Sea until 02 April 2009.
Myanmar national alleges Singapore prison beating
Submitted by Mohit Joshi on Thu, 03/26/2009 - 12:57.
Singapore - Singapore police is investigating a report by a Myanmar national that he was beaten up in a local prison, the Straits Times reported Thursday.
Hong Guo, who served one year in Changi Prison and received cane strokes for slashing a taxi driver, was hospitalized with a head injury that required surgery to remove part of his skull last November.
The 24-year old hospitality student was declared fit for travel by the hospital surgeon before being repatriated last week, but Guo lodged a report of prison beating before he was sent home.
Singapore February manufacturing declines 22.4 per cent
Submitted by Mohit Joshi on Thu, 03/26/2009 - 15:52.
Singapore - Singapore's manufacturing output in February declined 22.4 per cent from the same month last year as global demand shrank during the worldwide economic downturn, the government said Thursday.
Output in the first two months of this year also declined 26.2 per cent year-on-year, said the Economic Development Board, which promotes Singapore as a global business hub.
The February output of electronics shrank by 37.3 per cent, biomedical products by 27.9 per cent, chemicals by 22.1 per cent and precision engineering by 21.5 per cent.
Singapore's February tourist arrivals down 15.2 per cent
Submitted by Sahil Nagpal on Thu, 03/26/2009 - 17:52.
Singapore - Tourist arrivals in Singapore dropped 15.2 per cent in February from the same month a year ago to 689,000 visitors, the Singapore Tourism Board said Thursday.
Indonesia with 103,000 visitors, China with 80,000, Australia with 51,000, Britain with 47,000 and Malaysia with 46,000 accounted for Singapore's top five visitor-generating markets, accounting for 48 per cent of the February arrivals.
The board said Singapore's hotel room revenue dropped 28.7 per cent last month to 123 million Singapore dollars (81.5 million US dollars).
Singapore shares up nearly 4 per cent
Submitted by Mohit Joshi on Thu, 03/26/2009 - 19:39.
Singapore - Singapore shares rose 3.95 per cent Thursday after an overnight rally on Wall Street.
The Straits Times Index closed 67.11 points higher at 1,758.79, rebounding from a 0.85-per-cent loss on Wednesday.
Trading volume at the Singapore Exchange totaled 1.56 billion shares with 364 reporting gains against 117 losers.
Trade analysts and economists said the market rebounded after a day of correction Wednesday and followed upward trends among other major bourses. (dpa)
Singapore names new deputy prime minister
Submitted by Mohit Joshi on Thu, 03/26/2009 - 21:48.
Singapore - Singapore Prime Minister Lee Hsien Loong on Thursday named Defence Minister Teo Chee Hean as his new deputy, saying the appointment was part of a cabinet reshuffle aimed at renewing leadership and preparing younger office holders for broader responsibilities.
Singapore jails restaurant owner for phantom worker scam
Submitted by Sahil Nagpal on Fri, 03/27/2009 - 11:46.
Singapore - A Singapore restaurant owner became the first employer to be jailed for a so-called phantom-worker scam, which involves declaring a false number of local employees in order to to hire more foreign workers, the Straits Times reported Friday.
District Judge Shaiffudin Saruwan jailed Sulaiman Abdullah for six months. Sulaiman claimed he had tried hard but failed to recruit Singaporean workers.
Newborn baby dumped at Singapore airport
Submitted by Mohit Joshi on Fri, 03/27/2009 - 11:51.
Singapore - The body of a newborn baby boy was discovered in a rubbish bin in the transit area of Singapore's Changi Airport, the Straits Times reported Friday.
A cleaner made the sordid discovery just before 9 pm on Wednesday.
Close-circuit television footage from the terminal was being reviewed to trace the person who dumped the fair-skinned baby, who had his umbilical cord still attached.
It is believed that drops of blood were found in a toilet near one of the terminal's gates.
In Global IT Index, India Slips To 54th Position
Submitted by Bhuvan Kala on Fri, 03/27/2009 - 17:33.
According to Global Information Technology Report 2008-2009 released today, China has defeated India on the worldwide IT (information technology) radar, by gaining the 46th position in what is known as the Network Readiness Index (NRI).
At the same time India fell to the 54th grade from the 50th position during the last year, China jumped 11 points to come forward as a more innovative nation in promoting its global IT interests.
Soumitra Dutta, management academic at INSEAD, France, made this announcement.
Malaysian mother, daughter plead guilty to maid abuse in Singapore
Submitted by Sahil Nagpal on Fri, 03/27/2009 - 17:45.
Singapore - A Malaysian mother and daughter pleaded guilty Friday to maid abuse in Singapore as their trial was under way, a newspaper reported.
Housewife Loke Phooi Ling, 38, was charged with 32 counts and Teng Chen Lian, 67, with six counts of abusing their 23-year-old Indonesian maid from March to July 2007. They pleaded guilty after nine days of testimony in their trial in Singapore District Court, the Straits Times said.
Singapore's PSA posts 7.3-per-cent rise in container volume
Submitted by Mohit Joshi on Fri, 03/27/2009 - 21:28.
Singapore - Singapore port operator PSA International Ltd on Friday reported a 7.3-per-cent increase in 2008 container volume from the year before.
It said it handled 63.2 million TEUs, or 20-foot equivalent units, a capacity equal to a standard 20-foot-by-8-foot (6-metre-by-2.4-metre) shipping container.
But it said its strong growth up to July was rapidly eroded by the collapse in demand on major trade lanes in the final quarter of the year.
Singapore to consider raising foreign workers' health insurance
Submitted by Sahil Nagpal on Mon, 03/30/2009 - 13:02.
Singapore - Singapore is considering a health insurance increase for foreign workers following the recent hospitalization of some workers whose medical bills had more than doubled the coverage, it was reported Monday.
Health Minister Khaw Boon Wan said he was considering increasing the foreign workers' insurance coverage, citing a case of a Filipino maid whose medical expenses rose to 20,000 Singapore dollars, or four times the maximum.
Migrants take hit in Singapore recession but keep coming
Submitted by Kai Portmann on Mon, 03/30/2009 - 13:38.
Singapore - Abdur Rouf Abdul Mannan is furious with his boss. The 26-year-old Bangladeshi earns 16 Singapore dollars, or about 11 US dollars, a day as a worker at a Singapore shipyard.
"My boss promised he'll give me 18 dollars after I finished training," Abdur Rouf said. "I passed training, but the boss didn't live up to his promise."
As the global economic downturn hits the city-state hard, conditions for about 750,000 migrant workers in Singapore, who already draw low pay, have become harsher.
Singapore premier says new blood was needed in cabinet
Submitted by Sahil Nagpal on Mon, 03/30/2009 - 17:12.
Singapore - Singapore Prime Minister Lee Hsien Loong said Monday that he reshuffled his cabinet last week as part of a long process of self-renewal for the island state's political system.
Lee told reporters that Singapore has yet to fully assemble the core of its new generation of leaders and it was a critical now to identify, gather and prepare more people to take the reins of power in the city-state to assure Singapore's long-term future, according to a Channel News Asia report,
Singapore shares drop 4.15 per cent
Submitted by Mohit Joshi on Mon, 03/30/2009 - 21:35.
Singapore - Singapore share prices fell 4.15 per cent on Monday, coming under continued selling pressure since last Friday.
The Straits Times Index dropped by 72.52 points to 1,673.14.
The Singapore Exchange had a volume of 1,058.2 million shares with 367 counters losing ground against 120 gainers. (dpa)
Singapore announces initiatives to develop options market
Submitted by Mohit Joshi on Tue, 03/31/2009 - 19:03.
Singapore - Singapore Exchange Limited (SGX) Tuesday announced three initiatives to develop its options market.
The plan would enhance the existing SGX Nikkei 225 Index Options and SGX MSCI Taiwan Index Options contracts; launch the SGX MSCI Singapore Index Options contract; and introduce a web-based electronic trade registration system.
The initiatives would be implemented on 6 April 2009, the exchange said in a statement.
Malaysian woman, mother jailed for abusing maid in Singapore
Submitted by Mohit Joshi on Tue, 03/31/2009 - 20:40.
Singapore - A housewife and her mother were sentenced to jail terms Tuesday after they pleaded guilty to abusing the family's Indonesian maid.
Loke Phooi Ling, 38, a permanent Singapore resident from Malaysia, was sentenced to eight and a half months while her mother, Teng Chen Lian, 67, received a four-week sentence, the Straits Times newspaper reported.
Both women changed their pleas last week midway through their trial in a Singapore district court.
1,405 Singapore Airlines employees volunteer to go on unpaid leave
Submitted by Mohit Joshi on Wed, 04/01/2009 - 22:24.
Singapore - Singapore Airlines said Wednesday that 1,405 of its employees volunteered to take unpaid leave but it was not enough to steer the airline through the current tough times.
"We have approved 1,405 applications from staff for voluntary no-pay leave during the financial year which begins today," a company spokesman said Wednesday. "The vast majority of these come from cabin crew and are also for periods of less than one month."
Singapore shares up by 5.9 per cent
Submitted by Mohit Joshi on Thu, 04/02/2009 - 19:05.
Singapore - Singapore share prices rose by a hefty 5.9 per cent Thursday amidst strong buying activities driven by overnight gains on US stocks and a day-long rally at main regional bourses.
The Straits Times Index rose by 101.08 points to 1,803.34.
The Singapore Exchange closed with 417 gainers against 107 losers, trading volume totaled 1,803.34 million shares. 9dpa)
Singapore gets tough on employers mistreating foreign workers
Submitted by Mohit Joshi on Thu, 04/02/2009 - 19:09.
Singapore - The Singapore government has set up a task force to check malpractice by employers of foreign workers, a Channel News Asia report said Thursday.
Manpower Minister Gan Kim Yong said the task force, set up in January, is to detect malpractice such as failure to pay workers' salaries on time.
The unit was to consolidate and analyse information surfaced from Manpower Ministry's inspections as well as intelligence it receives.
Singapore man in court for emailing al-Qaeda threats
Submitted by Mohit Joshi on Sat, 04/04/2009 - 11:26.
Singapore - A Singapore court is seeking a further psychiatric report on a 40-year-old man who sent out emails threatening airlines and the US government, claiming to speak for al-Qaeda, the Straits Times reported Saturday.
The court has put off sentencing Josemaria Miguel Ye Yong Qiang whose sent emails threatening Irish Air Arann and US Delta Airlines, as well as the US embassy in Canberra.
In September 2008 he sent an email glorifying the New York terrorist attacks of September 11, 2001, to the White House, identifying himself as an al-Qaeda member.
Rudd discusses G20 summit outcome with Singapore leaders
Submitted by Mohit Joshi on Sat, 04/04/2009 - 19:40.
Singapore - Australian Prime Minister Kevin Rudd on Saturday exchanged views on the G20 summit with his Singapore counterpart Lee Hsien Loong and the city-state's Senior Minister Goh Chok Tong.
Rudd, in transit through Singapore after the London Summit, also discussed global challenges of the economic downturn, Singapore's Foreign Ministry said in a statement.
Singapore woman in coma, 100 others ill from food poisoning
Submitted by Mohit Joshi on Sun, 04/05/2009 - 12:55.
Singapore - A Singapore woman fell into a coma and at least 28 others were hospitalized while more than 100 other people sought hospital treatment after eating a popular local savory, the New Paper said on Sunday.
The Health Ministry said it was investigating a food stall named Rojak Geylang Serai, which makes and sells an Indian-style deep-fried mixture of meat and vegetable in the eastern district of Geylang.
Singapore "regrets" North Korean rocket launch
Submitted by Mohit Joshi on Sun, 04/05/2009 - 18:42.
Singapore - The Singapore government said on Sunday it regretted North Korea's rocket launch and called for a stable and nuclear-free Korean Peninsula.
"We are deeply concerned by this development. We regret that the DPRK has seen fit to take this step," said the foreign ministry in a statement.
"We hope all parties involved will exercise restraint and reduce tensions through dialogue and the Six Party Talks.
"A Korean Peninsula that is stable and nuclear-free is crucial for regional security and development," it said in response to media queries. dpa
Singapore woman dies after suffering food poisoning
Submitted by Mohit Joshi on Mon, 04/06/2009 - 17:20.
Singapore - A 57-year-old Singapore woman who went into a coma after suffering food poisoning from eating at a local food stall last week died on Monday morning in hospital, reported the Straits Times.
Aminah Samijo suffered acute renal failure when the food poisoning infection entered her kidneys, sending her into a coma. She also had low blood pressure.
Aminah had eaten Rojak, a deep-fried meat and vegetable dish, at a local hawker stall.
Singapore woman accused of having sex with minor
Submitted by Mohit Joshi on Mon, 04/06/2009 - 17:22.
Singapore - A 32-year-old woman was accused of having sex with a 13-year-old student on seven occasions last May, reported the Straits Times Monday.
The woman, who cannot be named to protect the boy's identity, has pleaded guilty to two charges.
The petite woman, a stall assistant, was not represented and was remanded in custody as she could not post the 10,000-Singapore- dollar (6,662-US-dollar) bail offered.
Second Singapore woman in coma after food poisoning
Submitted by Mohit Joshi on Tue, 04/07/2009 - 13:02.
Singapore - A second Singapore woman has gone into a coma after suffering acute food poisoning a day after the first victim's death, media reports said Tuesday.
Noraini Kasim, 59, is in a coma at a local hospital after having eaten from a local food stall last week.
Comatose Aminah Samijo, 57, died Monday in hospital, and Rosiah Samat, 38, lost her 2-month-old foetus in a miscarriage caused by a serious bout of diarrhea and bleeding brought on after eating the same food.
Singapore seeks professionals to boost airport corporatization
Submitted by Mohit Joshi on Tue, 04/07/2009 - 16:09.
Singapore - The Civil Aviation Authority of Singapore (CAAS) said on Tuesday that its functions will be split between two new companies from July 1 as part of corporatization and restructuring of its existing airport setup.
Singapore Exchange to launch new access platform
Submitted by Mohit Joshi on Tue, 04/07/2009 - 16:10.
Singapore - The Singapore Exchange Limited (SGX) will launch a new access platform to its securities market and data on April 27, it was announced Tuesday.
The new access platform, SGXAccess API1, will offer latency improvements of more than 10 times, achieving an average of up to 16 milliseconds for order acknowledgments, and is marektet as an alternative to the existing SGXAccess FIX2 platform.
Brothers to hang for murdering woman
Submitted by Mohit Joshi on Tue, 04/07/2009 - 16:57.
Singapore - Two brothers were sentenced to death by hanging Tuesday for murdering a woman in 2005, capping a long-running trial that was spanning three years, the Straits Times reported.
The Court found Ismil Kadar, 40, and Muhamad Kadar, 33, guilty of killing Tham Weng Kuen at her apartment on May 6, 2005, when trying to rob her. Tham died from more than 110 stab wounds.
Justice Woo Bih Li said he could not conclude as to who had dealt the fatal blows to the woman but both men were liable under the law as they were found to be at the crime scene at that time.
Singapore mass food poisoning kills second woman
Submitted by Sahil Nagpal on Wed, 04/08/2009 - 14:57.Singapore - A second woman died Wednesday after a food-poisoning outbreak hit Singapore last week, a radio report said.
Norani Kassim, 59, who was admitted to hospital Saturday, died after lapsing into a coma, hospital officials told the local 938LIVE station.
Aminah Samijo, 57, died Monday while another woman lost her 2-month-old foetus after suffering food poisoning by eating a salad at a food stall.
News reports said 137 people had suffered food poisoning after eating the salad of meat and deep-fried vegetables called India rojak from a popular hawker stall last week.
The government has initiated an investigation of the stall operators while the entire market where it was located has been closed for cleaning.
Divorcee jailed for having sex with 13-year-old boy
Submitted by Mohit Joshi on Thu, 04/09/2009 - 11:29.
Singapore - A 32-year-old Singaporean divorcee was sentenced to 10 months' jail for having sex with a 13-year old school boy, local media reported Thursday.
The woman, who has a 14-month-old son, pleaded guilty to two of the seven charges for having sex with the minor last May.
The affair was discovered by the woman's sister who visited her flat and found the boy hiding in a wardrobe, according to a report by the Straits Times.
Singapore acts to halt spread of hand, food and mouth disease
Submitted by Mohit Joshi on Thu, 04/09/2009 - 13:34.
Singapore - Child-care centres and kindergartens in Singapore are stepping up cleaning of classrooms as the number of children coming down with hand, foot and mouth disease nears the official "epidemic level," a newspaper reported Thursday.
Last week, 653 people were affected by the disease, 12 short of the Health Ministry's official epidemic level, the Straits Times said.
The number of cases was expected to rise from April to May, one of two traditional peak infection times for the disease with the other being August and October.
Singapore and Libya sign investment and tax pacts
Submitted by Mohit Joshi on Thu, 04/09/2009 - 14:36.
Singapore - Singapore said Thursday that it signed investment and tax agreements with Libya.
The investment pact was aimed at promoting bilateral investment flows by protecting investors and their investments, Singapore's Trade and Industry Ministry said in a statement.
It guarantees non-discriminatory treatment of investors, compensation in the event of expropriation or nationalization of their investments, free transfer of capital and returns from investment, and access to international arbitration for settlement of investment-related disputes.
Swedish student, Singaporean charged for appearing nude in public
Submitted by Sahil Nagpal on Thu, 04/09/2009 - 14:38.
Singapore - A Swedish student and his Singaporean friend were charged in a district court Thursday for appearing nude in public at a popular restaurant district.
Jan Philip, 21, a Swedish student on an exchange programme, and Eng Kai Er, 24, a university student in Sweden, each face a fine of up to 2,000 Singapore dollars (1,321 US dollars) and a jail term of up to three months.
The duo stunned passers-by on January 24 when they strolled naked through Holland Village, which is popular among expatriates in Singapore.
Singapore prime minister sees further decline in economic growth
Submitted by Mohit Joshi on Thu, 04/09/2009 - 18:05.
Singapore - Singapore Prime Minister Lee Hsien Loong said Thursday that the city state's economic growth forecast for this year will have to be revised downwards from the current minus 2 per cent to minus 5 per cent as exports continue to be hit by the global economic slowdown.
But Lee said he did not think the decline would be double-digit.
Singapore's exports have been hit hard and the global situation was not looking any better, Lee told reporters during a visit to a local training and jobs placement centre.
Singapore busts illegal labour supply syndicate
Submitted by Mohit Joshi on Thu, 04/09/2009 - 18:09.
Singapore - Singapore authorities have busted an illegal labour supply syndicate led by a Bangladeshi man and involving around 100 foreign workers, a news report said Thursday.
Shamsul Hoque Abdur Rahim, 40, and three Singaporeans were arrested by Manpower Ministry officials and the police following raids on various places in the city state.
Shamsul faces 125 charges for abetting, contravening work pass conditions and engaging in a business without a valid work pass under the Employment of Foreign Manpower Act (EFMA).
Singapore share prices up by 2.5 per cent
Submitted by Mohit Joshi on Thu, 04/09/2009 - 19:16.
Singapore - Singapore share prices rose by 2.5 per cent on Thursday, recovering from the last two days of losses.
The Straits Times Index rose by 44.55 points to 1,828.51.
The Singapore Exchange ended the day with 364 gainers against 125 losers. Volume totaled 1,640.9 million shares.
Market analysts said the buying spree lifted Singapore prices in tandem with New York and among the main Asian bourses. (dpa)
Singapore teen put on probation for having sex with 10-year-old
Submitted by Sahil Nagpal on Fri, 04/10/2009 - 13:54.
Singapore - A teenager who had sex with a 10-year-old girl was placed on 18 months of probation after a guilty plea, a newspaper reported Friday. Xia Yun, 19, pleaded guilty to two counts of carnal connection after having sex with the girl in his home in November 2007 when he was 17, the Straits Times said. He had sex with the girl again a few weeks later after she had turned 11.
The two met on a multiplayer online gaming website.
DBS CEO Stanley critically ill
Submitted by Mohit Joshi on Sat, 04/11/2009 - 11:03.
Singapore - Singapore's DBS banking group said its chief executive officer Richard Stanley, who was diagnosed with leukemia in late January, is in critical condition. "Stanley's condition has deteriorated rapidly in the last 24 hours and he is now in critical care," DBS said in a filing to the Singapore Exchange on Friday night.
Stanley had been responding well to treatment earlier and after two rounds of chemotherapy his doctors believed earlier this week that his cancer was in remission.
Singapore likely venue in Japanese proposal for Rugby World Cup
Submitted by Sahil Nagpal on Sat, 04/11/2009 - 12:03.
Singapore - Japan is to bid for hosting the 2015 and 2019 Rugby World Cups with a proposal to play the matches in 10 Japanese cities as well as Singapore and Hong Kong, according to a report in the Straits Times Saturday. If Japan wins the bid, Singapore would host five matches, the report said.
Japan is to formally submit the proposal to the International Rugby Board (IRB) on May 13 which is expected to announce its decision on July 28, 2009.
Singapore hit by second mass food poisoning in two weeks
Submitted by Mohit Joshi on Sun, 04/12/2009 - 14:16.
Singapore - Singapore was hit by the second outbreak of mass food-poisoning case in two weeks, as a dozen people fell ill after eating the same food, local media reported Sunday. The Health Ministry said it was notified Saturday of 12 cases, all stemming from soup eaten at a restaurant the night before, Channel News Asia said.
Singapore widens estimate of economic decline to 6 to 9 per cent
Submitted by Mohit Joshi on Tue, 04/14/2009 - 11:48.
Singapore - Singapore Tuesday revised down its forecast of economic activity for this year, expecting gross domestic product (GDP) to contract by 6 to 9 per cent, lower than the contraction of 2 to 5 per cent that it had forecast on January 21. Advance estimates for the Singapore economy indicate that economic activity slowed sharply in the first quarter of 2009, the Trade and Industry Ministry said in a statement.
The decline in the first quarter affected every sector except construction, the ministry pointed out.
Singapore further slashes trade forecasts
Submitted by Sahil Nagpal on Tue, 04/14/2009 - 12:33.
Singapore - Singapore on Tuesday revised its total trade projection for this year to a drop of 22 to 25 per cent, from previous expectations of a decline of 17 to 19 per cent, citing weak export markets. Non-oil domestic exports for 2009 are expected to contract by 10 to 13 per cent, from an earlier projection of a 9 to 11-per-cent decline, International Enterprise (IE) Singapore, a government trade agency, said.
Singapore eases monetary policy
Submitted by Sahil Nagpal on Tue, 04/14/2009 - 15:47.
Singapore - Singapore's central bank on Tuesday eased monetary policy for the second time since 2003 by effectively devaluing the currency as the government forecast a record economic contraction this year, the Straits Times reported. The Monetary Authority of Singapore (MAS) re-centred the currency's secret policy band at the existing level of its trade-weighted index, a move economists estimate could imply a devaluation of anywhere between 1 and 3 per cent.
Singapore Exchange reports 45.5 per cent drop in profits
Submitted by Mohit Joshi on Wed, 04/15/2009 - 20:05.
Singapore - Singapore Exchange Limited (SGX) Wednesday said its net profit for the third quarter of this year fell by 45.5 per cent year-on-year to 55.3 million Singapore dollars (36 million US dollars).
The net profit was also down by 25.9 per cent from the second quarter of the financial year 2009.
Operating revenues decreased 30.9 per cent to 119.8 million Singapore dollars for the third quarter ended 31 March 2009 from 173.3 million Singapore dollars for the same period of last year.
Reliance Communications intends buying back FCCBs listed at Singapore Exchange
Submitted by Sumeet Kak on Wed, 04/15/2009 - 21:59.
With the help of funds from its internal accretions and the foreign exchange proceeds, Reliance Communications intends buying back foreign currency convertible bonds (FCCBs) at a mark down, depending upon the central bank approval.
A tender offer, for repurchasing the bonds for cash at a discount, has been issued by the company to all its bond holders.
Singapore Airlines says March passenger load down 23 per cent
Submitted by Mohit Joshi on Wed, 04/15/2009 - 22:39.
Singapore - Singapore Airlines said Wednesday that its passenger load in March dropped by 23 per cent year-on-year to 1.28 million passenger as the carrier sheds flights and cuts capacity.
Singapore Airlines filled 69.4 per cent of its seats last month, the Straits Times newspaper reported, saying the comparative February figure was just slightly better at 69.7 per cent.
Taking passengers and cargo as a whole, the total amount of space filled was 62.6 per cent.
Singapore warns of action against protestors during APEC summit
Submitted by Sahil Nagpal on Thu, 04/16/2009 - 12:06.
Singapore - Singapore warned Thursday it would not tolerate violent protests during high profile events, including the Asia Pacific Economic Cooperation (APEC) Summit in November.
The city state's Deputy Prime Minister Wong Kan Seng warned tough action would be taken against protests like those seen recently in Thailand and London where demonstrators damaged public property and caused tourists to stay away.
Singapore awards rock cavern contract to Hyundai
Submitted by Mohit Joshi on Thu, 04/16/2009 - 20:45.
Singapore - Singapore's industrial development group JTC Corp on Thursday awarded an 890-million-Singapore-dollar (594 million US dollar) contract to South Korea's Hyundai Engineering and Construction to build two rock caverns for storing oil on the western part of the island state.
JTC said the first two of the 132-metre-below-ground Jurong Rock Caverns would be completed by 2013.
The caverns would hold 1.47 million cubic metres of oil underground, according to a report by the Straits Times Thursday.
JTC was also to build three other caverns.
Singapore police report increase in illegal immigrant boats
Submitted by Sahil Nagpal on Fri, 04/17/2009 - 19:54.
Singapore - Singapore police coast guards chased away 58 illegal immigrant boats from landing along the shores of the city state in the first three months of this year, more than double the 27 boats detected during the same period last year, according to a Straits Times report Friday.
The police coast guard commander, Assistant Commissioner of Police Teo Kian Teck, said the intruders resorted to dangerous manoeuvering in darkness when they wee being pursued.
The police caught 35 illegal immigrants during January-March 2009 compared with 46 a year ago.
Singapore to launch iron ore swap contracts
Submitted by Mohit Joshi on Fri, 04/17/2009 - 20:00.
Singapore - The Singapore Exchange announced on Friday that it will launch the world's first clearing of over-the-counter (OTC) iron ore swap contracts on April 27.
The SGX said it has also signed an agreement with the Steel Index (STI) to provide its reference price for the settlement of the iron ore swap contracts to be cleared via SGX AsiaClear.
A 500-metric-ton iron ore swap contract would be cash-settled based on the average of TSI iron ore reference prices in the expiring month.
‘Penniless'' frail Oz model offered sex work in Singapore
Submitted by Mohit Joshi on Fri, 04/17/2009 - 20:21.
Melbourne, April 17 : A young Sydney woman''s dream of beginning a modelling career in Singapore turned into a nightmare after false promises of work left her living on one meal a day.
According to DivaAsia. com, the 22-year-old blonde who says her name is Natalie moved to Singapore in hopes of getting modelling work via a local agency but has not been offered a single paying job so far.
Natalie, who appears gaunt and hungry, says she received scholarships from The National Institute of Dramatic Arts and Newtown Performing Arts High School, according to a report about her in local Chinese newspaper Shin Min.
Singapore gears up to tackle casino-related crime
Submitted by Mohit Joshi on Sat, 04/18/2009 - 12:43.
Singapore - Singapore is preparing to deal with casino-related offences, such as cheating and prostitution, ahead of the opening of two casino-anchored resorts, the first of which is due to open in December, media reports said Saturday.
Deputy Prime Minister and Home Affairs Minister Wong Kan Seng noted that newly opened casinos are often the subject of syndicate scams, and to combat such schemes, the Casino Regulatory Authority (CRA) would increase its staff to 116 by the end of the year from a current 75.
Singapore monk shuns Middle Path for fast lane
Submitted by Mohit Joshi on Sun, 04/19/2009 - 14:22.
Singapore - Singapore's top Buddhist monk has lived a lavish lifestyle with name branded goods and nine gold credit cards, according to a report in the Sunday Times.
"We are living in a modern world," the newspaper quoted monk Ming Yi as telling auditors and police during an investigation into a charity hospital that he had headed.
The report said Ming Yi was a high-end shopper who spent on brands like Louis Vuitton and Montblanc, and had given three supplementary credit cards to his friends including a monk based in Hong Kong.
Asin Bags International Tamil Film Award For ‘Dasavathaaram’
Submitted by Ashok Rao on Sun, 04/19/2009 - 16:44.
Here is good news for Asin’s fans.
The big news doing the rounds is that the renowned Singapore-based International Tamil Film Awards (ITFA) will honor the South Indian beauty on May 16.
Asin will get an award in the best actress category for Kamal Haasan’s magnum opus ‘Dasavathaaram’ at Singapore Expo Max Pavilion.
The Hindi version of the film ‘Dasavathaaram’ hit theatres this Friday.
Singapore Mercantile Exchange joins derivatives associations
Submitted by Mohit Joshi on Mon, 04/20/2009 - 17:11.
Singapore - The Singapore Mercantile Exchange (SMX) Monday said it has been admitted as a member of a number of leading international derivatives trade associations.
Formed in July 2008, SMX has joined the Futures Industry Association (FIA), the Swiss Futures and Options Association (SFOA), the Association of Futures Markets (AFM) and the Futures and Options Association (FOA).
The trade exchanges collectively encompass many leading exchanges and clearing houses in the commodities field, including the Chicago Mercantile Exchange
Singapore's health minister warns against the risks involved in surgery of Indian twins joined at their heads
Submitted by Carina Rose on Tue, 04/21/2009 - 08:08.
Singapore's health minister has warned against the risks involved in the surgery to separate the Indian twins joined at their head.
Reputed Singaporean neurosurgeon, Keith Goh, emphasized that the state government of Andhra Pradesh in India has urged him to surgically separate five-year-old Indian twin sisters Vani and Veena.
Singapore shares end down 2.3 per cent
Submitted by Mohit Joshi on Wed, 04/22/2009 - 19:56.
Singapore - Singapore shares fell 2.32 per cent Wednesday as weak global economic data indicated the economic crisis hadn't yet bottomed out.
The key Straits Times Index lost 43.84 points to close at 1,843.41.
Losers beat gainers 303 to 172 on a trading volume of 1.7 billion shares. (dpa)
Singapore's visitor arrivals tumble 13 per cent in March
Submitted by Sahil Nagpal on Thu, 04/23/2009 - 15:15.
Singapore - Visitor arrivals in Singapore tumbled 13.2 per cent year-on-year in March to 790,000 as the global economic crisis puts the brakes on the city state's tourism industry, the Singapore Tourism Board said Thursday.
However, the decline was not as sharp as in February when visitor arrivals in Singapore fell 15.2 per cent to 689,000, the lowest number in four years.
Capitaland posts net profit drop of 83 per cent for first quarter
Submitted by Sahil Nagpal on Fri, 04/24/2009 - 12:05.
Singapore - Capitaland Ltd, one of Asia's largest real estate developers, said Friday its first quarter net profit dropped nearly 83 per cent from the same period a year ago amidst unprecedented challenges arising from the global financial downturn. In the three months that ended March the Singapore-based company reported net profits of 42.9 million Singapore dollars (28.6 million US dollars), down from 247.5 million Singapore dollars a year earlier, Capitaland said in a statement.
Agility Logistics looks for expansion despite economic crisis
Submitted by Mohit Joshi on Fri, 04/24/2009 - 18:46.
Singapore - Kuwait-based Agility Logistics Ltd, one of the world's leading providers of logistics to businesses and governments, plans to continue its expansion aggressively despite the global economic crisis.
"The appetite for growth is very substantial," said Agility chief executive officer for Asia-Pacific Wolfgang Hollermann Friday in Singapore.
Singapore's manufacturing output plunges 34 per cent in March
Submitted by Mohit Joshi on Fri, 04/24/2009 - 19:29.Singapore - Singapore's ailing economy faced another setback as manufacturing output plunged 33.9 per cent year-to-year in March, according to data released by the Economic Development Board on Friday.
The city-state's slump in factory output reached a record in March, local media reported.
The March numbers were even worse than the drop of 15.1 per cent in February and the contraction of 27.6 per cent in January.
Chartered Semiconductor posts 99-million-US-dollar net loss
Submitted by Mohit Joshi on Fri, 04/24/2009 - 20:30.
Singapore - Singapore's Chartered Semiconductor, one of the largest chipmakers worldwide, on Friday posted a net loss of 98.8 million US dollars for the first quarter of
2009, compared to a profit of 2.4 million US dollars in the same period a year ago.
Revenue for the first three months of 2009 reached 243.9 million US dollars, down 37.2 per cent from a year earlier, the company said in a statement.
Singapore serial molester gets 32 years in jail and 24 cane strokes
Submitted by Mohit Joshi on Fri, 04/24/2009 - 20:33.
Singapore - A Singapore court Friday sentenced a serial molester who sexually assaulted girls as young as nine to 32 years in jail, media reports said.
Huang Shiyou, 22, was also ordered to be caned the maximum of 24 strokes after he pleaded guilty to five charges of aggravated molestation, sexual assault and attempted rape, the online edition of Straits Times newspaper reported.
Singapore airport scans arriving visitors for flu symptoms
Submitted by Mohit Joshi on Mon, 04/27/2009 - 13:14.
Singapore - In light of the outbreak of swine flu cases in Mexiko and the United States since Monday all passengers arriving at Singapore's main Changi airport are being screened for flu symptoms.
Thermal scanners at the arrival halls measure the temperature of passengers just before they undergo immigration checks, the Ministry of Health and the Civil Aviation Authority said in a joint statement.
Passengers with higher-than-normal temperature would undergo a more thorough medical assessment.
Singapore man gets five years in jail for bomb hoaxes
Submitted by Mohit Joshi on Mon, 04/27/2009 - 19:37.
Singapore - A Singapore court Monday sentenced a man who masqueraded as an informant of al-Qaeda and sent bomb hoax and terrorist-related threats to five years in jail, media reports said. Josemaria Miguel Ye Yong Qiang, 40, sent a series of e-mails threatening bomb and rocket attacks on American and European airlines, the White House, Pentagon and US embassies between September 6 and 27 last year, the online edition of Straits Times newspaper reported.
Singapore's Neptune Orient Lines posts slump in shipping volume
Submitted by Mohit Joshi on Mon, 04/27/2009 - 20:12.
Singapore - Singapore's Neptune Orient Lines (NOL), one of the world's leading container shippers, said Monday its cargo volume for the four weeks to April 3 slumped 22 per cent compared to the same period a year ago due to a decline in demand. From March 7-April 3, NOL moved 155,400 40-foot equivalent units (FEU), down from
198,300 FEU in the same period a year earlier, the company said in a statement.
Average revenue per FEU fell 20 per cent to 2,347 US dollars.
Singapore raises flu alert level to yellow
Submitted by Mohit Joshi on Wed, 04/29/2009 - 13:21.
Singapore - Singapore stepped up measures to guard against the swine flu outbread and elevated the flu alert level from green to yellow after the World Health Organization decided to raise pandemic alert levels from phase 3 to 4.
"This is to brace ourselves to handle situations where there may be isolated imported cases but no sustained local transmission," the Ministry of Health said in statement late Tuesday night.
So far there are no human cases of swine flu in Singapore.
Worst might be over for Singapore's economy, central bank says
Submitted by Mohit Joshi on Wed, 04/29/2009 - 19:42.
Singapore - The worst might be over for Singapore's economy, but a decisive rebound from recession is not in sight for 2009, the city-state's central bank said Wednesday. "With the current world economic downturn likely to be a prolonged one, Singapore's climb out of recession will be slow and gradual," the Monetary Authority said in a macroeconomic review.
The most intense phase of this downturn for Singapore might have already occurred, it said.
"Nonetheless, the domestic economy is not expected to stage a decisive rebound this year," the central bank said.
Singapore's unemployment rate jumps to 3.2 per cent in March
Submitted by Sahil Nagpal on Thu, 04/30/2009 - 15:57.
Singapore - Singapore's unemployment rate jumped to 3.2 per cent in March, up from 2.5 per cent in December, preliminary figures released Thursday by the Ministry of Manpower showed.
The city state battles its worst recession since independence from Malaysia in 1965.
About 95,600 Singaporeans were unemployed in March, a sharp increase from 71,800 in December.
Singapore elevates flu alert level from yellow to orange
Submitted by Mohit Joshi on Thu, 04/30/2009 - 19:29.
Singapore - Singapore raised its flu alert level from yellow to orange and further stepped up infection control measures, although no cases of human swine flu have been confirmed in the city state so far, the Ministry of Health said in a statement Thursday.
The heightened alert came after the World Health Organisation raised the pandemic alert from phase 4 to 5.
Singapore shares surge 3.8 per cent
Submitted by Mohit Joshi on Thu, 04/30/2009 - 19:34.
Singapore - Singapore shares ended 3.82 per cent higher on Thursday.
The key Straits Times Index rose 70.71 points to 1,920.28.
Gainers led losers 349 to 150. (dpa)
Couple fined maximum for naked parade in Singapore
Submitted by Mohit Joshi on Thu, 04/30/2009 - 21:44.
Singapore - A couple who entertained open-air diners in Singapore with a naked stroll through an area known for its popular nightspots received Thursday the maximum fine of 2,000 Singapore dollars (1,350 US dollars) each for an obscene act, media reports said.
Jan Philip, 21, an exchange student from Sweden, and Eng Kai Er, 24, an ethnic Chinese Singaporean who attends university in Sweden, did what they did "to seek thrills," court papers stated.
Singapore imposes visa requirement for Mexicans amid flu outbreak
Submitted by Mohit Joshi on Sat, 05/02/2009 - 15:26.
Singapore - Singapore imposed a visa requirement for Mexicans beginning Saturday with the aim of reducing the risk of an outbreak of swine flu in the city-state. Previously, citizens of Mexico, the country worst hit by the virus, did not need a visa to enter Singapore, which has yet to report an infection with the H1N1 virus.
Last year about 8,000 Mexicans visited Singapore, local media reports said.
Mexico's ambassador to Singapore, Juan Jose Gomez Camacho, said he was disappointed about the decision announced by the Immigration and Checkpoints Authority.
Singapore shares surge 5.65 per cent
Submitted by Mohit Joshi on Mon, 05/04/2009 - 18:51.
Singapore- Singapore shares surged nearly 5.65 per cent on Monday as stock markets around Asia posted gains.
The key Straits Times Index rose 108.43 points at 2,028.71 on volume of 2.8 billion shares.
Gainers beat losers 446 to 128.
Mexican embassy objects visa requirements in Singapore
Submitted by Mohit Joshi on Mon, 05/04/2009 - 21:27.
Singapore - Mexico's ambassador to Singapore Monday objected a decision by the government to impose visa requirements for Mexicans in light of the outbreak of swine flu in Mexico, media reports said.
Ambassador Juan Jose Gomez Camacho described the measures, which took effect last Saturday, as "unjustified and unnecessary."
Indonesian maid gets jail sentence for abusing employer's baby
Submitted by Mohit Joshi on Tue, 05/05/2009 - 17:58.
Singapore - A Singapore court on Tuesday sentenced an Indonesian maid to nine months in jail for abusing her employer's baby, a news report said.
Identified only as Etik, 25, the maid pleaded guilty to pushing, slapping, shaking and kicking the 2-month-old boy on January 25 last year.
She had been employed since November 2007 and was recorded by closed-circuit television pushing the baby's groin and slapping his leg while he lay crying on the sofa, the online edition of Straits Times newspaper reported.
Singapore's OCBC bank posts 12-per-cent drop in quarterly profit
Submitted by Mohit Joshi on Wed, 05/06/2009 - 16:26.
Singapore - Singapore's Oversea-Chinese Banking Corp, the smallest of the city-state's three listed banks, on Wednesday posted a 12-per-cent drop in net profit for the first quarter as provisions for bad loans rose.
Net profit from January to March fell to 545 million Singapore dollars (369 million US dollars), down from 622 million Singapore dollars for the same period a year ago, when the bank reported one-time gains, it said.
Singapore shares rise 5 per cent to six-month high
Submitted by Mohit Joshi on Wed, 05/06/2009 - 19:09.
Singapore - Singapore shares surged 5.05 per cent Wednesday, bringing the market to a six-month high.
The key Straits Times Index climbed 104.68 points to 2,179.03. Gainers beat losers 548 to 110. (dpa)
Singapore to lower flu alert level to yellow by next Monday
Submitted by Sahil Nagpal on Thu, 05/07/2009 - 02:37.
Singapore - The Singapore government said Wednesday it will lower its flu alert level from orange to yellow progressively by next Monday, as the A(H1N1) virus appears to be milder than originally feared.
"We remain on high alert but some of the measures introduced last week can be eased," Health Minister Khaw Boon Wan said.
The authorities would maintain temperature screening at borders, hospitals and clinics and home quarantine for people returning from Mexico.
Malaysians get 10 years in jail for deadly Singapore robbery
Submitted by Mohit Joshi on Thu, 05/07/2009 - 18:30.
Singapore - A Singapore court Thursday sentenced two Malaysian men to 10 years in jail for robbing a Bangladeshi worker and bashing him with a metal rod, thus causing his death six days later, a media report said.
Hirris Martin, 22 and James Anggang, 23, were also to get 24 strokes of the cane.
Both were initially accused of murder, which carries the mandatory death penalty, but the charges were reduced to robbery with grievous hurt.
Singapore shares close up 2.87 per cent
Submitted by Mohit Joshi on Thu, 05/07/2009 - 18:55.
Singapore - Singapore shares continued their surge Thursday, closing 2.87 per cent higher.
The key Straits Times Index rose 62.57 points to 2,241.60.
Gainers beat losers 424 to 201, with 4.01 billion shares traded.
Singapore issues new rules for Islamic banking to boost industry
Submitted by Mohit Joshi on Thu, 05/07/2009 - 20:39.
Singapore - The Monetary Authority of Singapore, the city state's central bank, Thursday issued new guidelines for Islamic banking to boost the industry with financing products that comply with Muslim sharia law.
"In the coming years, as the sharia principles of using capital to build productive capacity gain wider recognition, Islamic finance will assume a more prominent role," the authority's managing director Heng Swee Keat said.
Singapore's most-wanted terrorist fugitive captured
Submitted by Mohit Joshi on Fri, 05/08/2009 - 12:07.
Singapore - Singapore's most-wanted terrorist, Mas Selamat, has been arrested in Malaysia following a huge manhunt after he escaped in February 2008 from a top-security Singapore detention centre, media reports said Friday.
The 48-year-old suspected Islamic terrorist was captured on April 1 while hiding in Malaysia's state Johor, The Straits Times newspaper reported, citing regional intelligence sources. He is believed to be detained in Johor.
It was not known how he slipped out of Singapore or when he entered Malaysia.
Singapore's DBS Bank posts 28-per-cent slump in quarterly profit
Submitted by Sahil Nagpal on Fri, 05/08/2009 - 12:34.
Singapore - Singapore's DBS Bank, one of the leading lenders in Asia, Friday posted a 28-per-cent slump in net profit for the first quarter of 2009, as allowances for credit and other losses nearly tripled.
From January to March net profit fell to 433 million Singapore dollars (294 million US dollars), down from 603 million Singapore dollars for the same quarter 2008, the bank said.
The net profit figures had included a one-time charge of 23 million Singapore dollars for an investment.
Singapore's most-wanted terrorist captured in Malaysia
Submitted by Mohit Joshi on Fri, 05/08/2009 - 16:05.
Singapore - Singaporeans had to wait for this breaking news for more than a year: Mas Selamat, a suspected Islamic terrorist leader who escaped from a top-security Singapore detention centre in February last year, has been arrested in neighbouring Malaysia.
The 48-year-old, whose escape caused huge embarrassment to Singapore's authorities, was captured on April 1 while hiding in the state of Johor, not far from the border with Singapore, the Straits Times newspaper reported, citing regional intelligence sources.
DBS witnesses net profit drop of 28% during the first quarter
Submitted by Harish Dhawan on Fri, 05/08/2009 - 23:21.
Singapore's DBS Group Holdings announced Friday that since the bank made bigger allowances for bad debt, its net profit in the first quarter fell 28 per cent from the previous year.
DBS confirmed via a statement that in the three months to March, the net profit was 433 million Singapore dollars (295 million US), down from 603 million dollars in the same period last year.
The income of net interest during the first quarter was 1.08 billion dollars, up two per cent from 1.06 billion.
DBS exits HDFC Bank
Submitted by Harish Dhawan on Sun, 05/10/2009 - 04:57.
In an open market transaction, Singapore-based DBS Bank today offloaded its entire 2.7% stake in HDFC Bank for Rs 1,291.12 crore, pulling down share prices of the country's second largest private lender over 2 % on the BSE.
A DBS Bank spokesperson said, "DBS has offloaded its entire stake in HDFC Bank as it is an opportune time for divestment. This was a portfolio investment which we had made few years back. We remain committed to India as a focus of our growth plans."
DBS Sells 2.7% Stake In HDFC For $262 Mln
Submitted by Harish Dhawan on Mon, 05/11/2009 - 13:53.
DBS Group, Southeast Asia's biggest banking institution, has sold its 2.7% stake in Housing Development Finance Corporation (HDFC) during the last week.
A source from Singapore-based bank said that the transaction raised about $260 million for the group.
A DBS spokeswoman stated, “We have divested our 2.7 percent stake in HDFC, a portfolio investment, as we believe this is an opportune time to divest the shares.”
“We divested the shares on Friday,” she added.
Singapore shares close down 3.2 per cent
Submitted by Mohit Joshi on Mon, 05/11/2009 - 18:52.
Singapore - Singapore shares closed 3.22 per cent lower on Monday.
The key Straits Times Index fell 72.11 points to 2,166.10 on trading volume of 4 billion shares.
Losers led gainers 396 to 225. (dpa)
Singapore's Neptune Orient Lines posts hefty loss for first quarter
Submitted by Mohit Joshi on Tue, 05/12/2009 - 19:41.
Singapore - Singapore's Neptune Orient Lines Ltd (NOL), one of the world's leading container shippers, on Tuesday posted a net loss of 245 million US dollars for the first quarter, a turnaround from a profit of 121 million US dollars for the same period a year ago, the company said.
"Over the first quarter 2009, NOL was impacted by a significant decline in global trade flows and consequently liner shipping volumes," the company said in a statement.
Singapore's SingTel expands regional customer base by 35 per cent
Submitted by Mohit Joshi on Wed, 05/13/2009 - 19:09.
Singapore - Singapore Telecommunications Ltd, or SingTel, South-East Asia's biggest telecommunications company, on Wednesday posted annual growth of 35 per cent in its regional mobile phone customer base despite the global economic downturn.
As of March 31, the number of mobile phone subscribers increased by 64 million from a year earlier to 249.4 million, the company said.
SingTel counts customers in Australia, Bangladesh, India, Indonesia, Pakistan, the Philippines, Singapore and Thailand.
SingTel posts 17-per-cent fall in quarterly net profit
Submitted by Mohit Joshi on Thu, 05/14/2009 - 11:57.
Singapore - Singapore Telecommunications Limited, the biggest telephone company in Southeast Asia, Thursday said net profit for the fourth quarter fell by 17 per cent over the same period a year earlier, with the strong Singapore dollar impacting results.
For the three-month period ending March 31, SingTel reported a net profit of 903 million Singapore dollars (616.6 million US dollars), down from 1.09 billion Singapore dollars a year ago, the company said in a statement.
Singapore court sentences former boss of Mitsui Oil to jail
Submitted by Sahil Nagpal on Thu, 05/14/2009 - 14:14.
Singapore - A Singapore court on Thursday sentenced the former general manager of Mitsui Oil (Asia) to 20 weeks in jail for facilitating a scam that eventually cost his company 81 million US dollars and led to its closure, media reports said.
Takayoshi Wada, 46, admitted that he had helped his then-colleague Noriyuki Yamazaki, 37, at the subsidiary of the Japanese trading house Mitsui and Co report false prices for the petroleum product naphta to the head office to disguise Yamazaki's losses in trading.
Singapore shares drop 2.89 per cent
Submitted by Mohit Joshi on Thu, 05/14/2009 - 19:05.
Singapore - Singapore shares dropped 2.89 per cent Thursday, as stock markets around Asia tumbled.
The key Straits Times index fell 63.18 points to 2,122.11.
Losers beat gainers 463 to 128.(dpa)
Singapore Airlines posts 92-per-cent drop in quarterly net profit
Submitted by Mohit Joshi on Thu, 05/14/2009 - 20:34.
Singapore - Singapore Airlines (SIA), one of the biggest carriers worldwide, Thursday said net profit for the fourth quarter dived 92 per cent compared to the same period last year, reflecting a severe deterioration in operating conditions due to the global economic downturn.
Net profit for the quarter ending March 31 dropped to 41.9 million Singapore dollars (28.5 million US dollars), down from 527.5 million Singapore dollars for the same period a year ago, SIA said in a statement.
Singapore Airlines sees no upturn in passenger demand
Submitted by Mohit Joshi on Fri, 05/15/2009 - 15:46.
Singapore - Singapore Airlines (SIA) said Friday the sharp drop in demand for air travel due to the global downturn had levelled, but there were no signs of an upturn.
"The worsening has stopped," said company chief executive Chew Choon Seng.
SIA would be more encouraged when the demand was going up, "but we don't see that now."
SIA already announced it will reduce its capacity by 11 per cent and decommission 16 passenger aircraft from its fleet for the period to March 2010.
Singapore aquarium gives up plans to exhibit whale sharks
Submitted by Mohit Joshi on Sat, 05/16/2009 - 14:32.
Singapore - The developer of a resort on Singapore's Sentosa Island has given up plans to exhibit whale sharks in its marine park after raising the ire of animal welfare groups, media reports said Saturday.
A spokeswoman for Resort World at Sentosa said the company wanted to back out of its original plan because it believes it might not be able to care for the whale sharks in its Marine Life Park, which purportedly would be the world's biggest oceanarium upon its completion.
Will Saudi prince sell Singapore hotel icon?
Submitted by Kai Portmann on Sun, 05/17/2009 - 12:29.
Singapore - It is the epitome of colonial grandeur. It is the place to stay when in Singapore. It is home to the city-state's most famous cocktail - the Singapore sling - and for thousands of its guests, it is simply the grandest of all grand hotels in the world: the Raffles.
Dozens of legends and stories have grown up around Singapore's national monument at 1 Beach Road since the hotel's opening in 1887. Some of them are true, some of them are false.
Bank of America Stake sold by Temasek
Submitted by Harish Dhawan on Sun, 05/17/2009 - 15:16.
It has been announced by Temasek, the Singapore state investor, that in the first three months of this year for a large loss, the investment company sold its stake in Bank of America.
Prior to the credit crunch, an investment was made by the group in Merrill Lynch before Bank of America took it over last year.
As of now, the state-owned investor is now concentrating on investments in Latin America and Asia specifically.
Song Seng Wun at CIMB Research said, “It seems they feel the China growth story is better than the 'green shoots' of recovery in the US.”
Fall by 7.3% seen in Singapore retail sales during March
Submitted by Harish Dhawan on Sun, 05/17/2009 - 15:53.
In the midst of a deep recession as shoppers limited their spending, a fall was but to worsen in Singapore retail sales during the month of March.
On Friday statistics department informed that a fall by 7.3% was seen in retail sales from a year earlier after a 5.5 percent fall in February.
Via a statement, the department specified that a fall by 23% was seen in sales of furniture and household equipment, while apparel and footwear plunged 15 percent and watches and jewelry dropped 26 percent.
Singapore's non-oil exports drop 19 per cent in April
Submitted by Sahil Nagpal on Mon, 05/18/2009 - 17:32.
Singapore - Singapore's non-oil exports dropped by 19 per cent in April compared with one year earlier, after a decline by 17 per cent in the previous month, the government said Monday.
Shipments of electronic goods fell by 26 per cent in April year-on-year largely due to lower demand for computer parts and disk drives, the city-state's trade promotion agency, International Enterprise Singapore said.
Exports of non-electronic goods decreased by 15 per cent in April 2009 compared with a year ago, led by reduced exports of petrochemicals or pumps.
Singapore Buddhist temple gets mysterious cash every month
Submitted by Mohit Joshi on Mon, 05/18/2009 - 21:09.
Singapore - A Singapore Buddhist temple has received about 1.5 million Singapore dollars (1 million US dollars) in cash from a mysterious donor, in stacks of 1,000-dollar notes found monthly in the temple's donation box, media reports said Monday. The monthly amounts given to the Singapore Buddhist Lodge, a religious welfare group, varied between 40,000 and 50,000 Singapore dollars, the online edition of Straits Times newspaper reported.
The lodge's chairman Lee Bock Guan said he was sure the money came always from the same unknown donor.
Singapore tycoon sues Citigroup over hefty losses
Submitted by Mohit Joshi on Tue, 05/19/2009 - 13:07.
Singapore - A Singapore businessman sued Citigroup Inc's private banking arm for negligence and misrepresentation after he lost 1 billion Singapore dollars (683 million US dollars) on foreign exchange and bond trades last year, media reports said Tuesday.
Oei Hong Leong, 60, claimed the bank, with which he had a 30-year business relationship, repeatedly gave him an inaccurate picture of his trading exposure, causing him to take on more positions than he would have taken otherwise, the Straits Times newspaper reported.
Singapore shares climb 3.8 per cent
Submitted by Mohit Joshi on Tue, 05/19/2009 - 19:34.
Singapore - Singapore shares ended up 3.83 per cent Tuesday, as stock markets around Asia rose to their highest level in several months.
The key Straits Times index climbed 83.38 points to 2,260.36.
A volume of 2.5 billion shares was traded. Gainers led losers 476 to 122.
Singapore man jailed for seven years for beating toddler to death
Submitted by Mohit Joshi on Tue, 05/19/2009 - 19:44.
Singapore- A Singapore court Tuesday sentenced a man to seven years in jail for beating his girlfriend's 3-year-old son to death, media reports said.
Firdaus Abdullah, 27, who will also get 12 strokes of the cane, lost his temper whenever the toddler cried, the court heard.
Between January 12-14, 2008, he repeatedly punched the boy in the face and slammed his head against a door frame causing head injuries, the online edition of Straits Times newspaper reported. He had also grabbed and bitten the boy's genitals.
Singapore's economy contracts 10.1 per cent in first quarter
Submitted by Sahil Nagpal on Thu, 05/21/2009 - 11:25.
Singapore - Singapore's export-reliant economy contracted 10.1 per cent in the first quarter of 2009 compared to a year ago and could shrink by 6 to 9 per cent for the whole year, the government said Thursday.
Amid the global economic downturn, the city-state is in its worst recession since independence from Malaysia in 1965.
"There are still no decisive indicators of economic recovery," the Ministry of Trade and Industry said in a statement.
Malaysian premier seeks closer ties with Singapore
Submitted by Mohit Joshi on Thu, 05/21/2009 - 13:29.
Singapore - Malaysia's new prime minister, Najib Razak, in a media interview published Thursday called for closer ties and more cooperation with neighbouring Singapore despite a sometimes shaky relationship in the past.
"It is incumbent upon our two governments to not allow some difficult, or if you like, thorny, bilateral issues to impede and hamper whatever progress we can achieve in areas which are more doable and more achievable," Najib said in an interview with the Straits Times newspaper.
Singapore shares fall 2.57 per cent
Submitted by Mohit Joshi on Thu, 05/21/2009 - 18:57.
Singapore - Singapore shares fell 2.57 per cent Thursday as most stock markets around Asia posted losses.
The key Straits Times Index dived 58.27 points to 2,210.97.
In the broader market, losers beat gainers 392 to 169.(dpa)
600 million dollars paid by Temasek for stake in China's CCB
Submitted by Gaurav Mehra on Sun, 05/24/2009 - 15:37.
$600 million would be invested by Singapore state investment agency Temasek Holdings in order to raise its stake in China Construction Bank to 6.5 percent from 6 percent.
A source familiar with the matter said that with the aim to enhance Temasek’s equity stake in CCB, the world's second-largest lender by market value, the company is mulling to pay $600 million.
As per the media reports, the investment would boost Temasek's holding to 6.5 percent, or 14.3 billion shares.
Singapore’s GDP contracts 14.6%
Submitted by Harish Dhawan on Sun, 05/24/2009 - 15:40.
The first quarter of this year saw Singapore’s economy contracting less than thought earlier, thus pointing an improvement in economic activity in March.
A contraction in the country’s GDP by 14.6% was witnessed compared with the previous three months. This is better than the 19.7% fall estimated by the government in April.
It won’t be wrong to say that the year -on-year contraction of 10.1% which is an improvement over the previous estimate of 11.5%.
Singapore's Neptune Orient Lines posts decrease in cargo volume
Submitted by Mohit Joshi on Mon, 05/25/2009 - 20:13.
Singapore - Singapore's Neptune Orient Lines (NOL), one of the biggest container shippers worldwide, Monday said its cargo volume for the four weeks to May 1 had slipped by 22 per cent compared to the same period a year ago.
From April 4 to May 1, NOL moved 157,800 40-foot equivalent units (FEU), down from 203,000 FEU in the same period of 2008, the company said in a statement.
Average revenue per FEU fell 21 per cent to 2,322 US dollars.
Singapore’s consumer price falls by 0.7 per cent
Submitted by Harish Dhawan on Tue, 05/26/2009 - 09:11.
On Monday, the official data specified that in April, Singapore's consumer price index (CPI) fell by 0.7% over the same period last year, which is the first decline registered since June 2005.
If adhered to the Singapore Department of Statistics than the lower costs of transport and communication, housing and recreation was mainly responsible for the decline. A decline by 6.3 percent was seen in cost of transport and communication, while housing cost plunged by 1.7 percent in April year-on-year.
Singapore man sentenced to hang for murdering his wife
Submitted by Mohit Joshi on Tue, 05/26/2009 - 12:45.
Singapore - A Singapore court sentenced a man to hang for hurling his wife to death from the 13th floor of an apartment block, media reports said Tuesday.
Tharema Vejayan Govindasamy, 40, was found guilty of murdering his 32-year-old wife after a night of drinking and a quarrel with her at a bus stop on July 1, 2007, and was given the death penalty, the Straits Times newspaper reported.
However, his lawyer said he would appeal the court's verdict.
Singapore's manufacturing output rebounds in April
Submitted by Sahil Nagpal on Tue, 05/26/2009 - 17:57.
Singapore - Singapore said Tuesday its manufacturing output in April declined more slowly than in the months before thanks to a sharp turnaround in the biomedical industry.
Compared to a year ago, total manufacturing output in April posted a dip of 0.5 per cent, after it had plunged a hefty 32.8 per cent in March, the Economic Development Board said.
April was the seventh straight month of decline in total output.
Singapore confirms first case of H1N1 swine flu
Submitted by Sahil Nagpal on Wed, 05/27/2009 - 13:32.
Singapore - Singapore has confirmed its first case of the new strain of H1N1 influenza virus, the Ministry of Health said Wednesday.
The patient is a 22 year-old Singaporean woman who was in New York from May 14 to 24.
She arrived back in Singapore from New York on board a Singapore Airlines flight on Tuesday morning.
Lab tests later confirmed the infection. The patient is currently being treated at a hospital and is in stable condition, the ministry said.
Singapore's visitor arrivals fall 6.1 per cent in April
Submitted by Mohit Joshi on Wed, 05/27/2009 - 17:18.
Singapore - A fall in tourist arrivals in Singapore levelled off in April, as the number of visitors to the city state shrank 6.1 per cent compared to a year ago, the Singapore Tourism Board said Wednesday.
The decline was smaller than the double-digit slump posted in each of the previous three months.
In April, a total of 780,000 visitors arrived in Singapore.
Arrivals from Hong Kong, the Philippines, Vietnam, Germany and Australia grew, which the board "mainly attributed to the Easter holiday period in April."
Singapore court finds Christian couple guilty of sedition
Submitted by Mohit Joshi on Thu, 05/28/2009 - 19:10.
Singapore- A Singapore court Thursday has found a Christian couple guilty for distributing seditious and objectionable publications to Muslims, media reports said.
Between March and December 2007, Ong Kian Cheong, 50, and his wife, Dorothy Chan Hien Leng, 46, had distributed two booklets by US publisher and comic author Jack Chick, which according to the judge could spark ill-will or hostility between Christians and Muslims.
Singapore to amend laws to get off "grey" list of tax havens
Submitted by Mohit Joshi on Thu, 05/28/2009 - 22:31.
Singapore The Singapore government said Thursday that it would amend its laws in the coming months to get off an international "grey" list of tax havens compiled by the Organization for Economic Cooperation and Development (OECD).
Singapore has been listed as a state committed to the international OECD standard on sharing information on taxes but not yet substantially implementing it.
Defence ministers gather for dialogue on Asian security
Submitted by Sahil Nagpal on Fri, 05/29/2009 - 14:30.Singapore - Defence ministers and policy-makers from 27 nations gathered in Singapore Friday for the largest summit on Asian defence and security against the background of rising tensions after North Korea tested a nuclear weapon and short-range missiles earlier this week.
The three-day 2009 Shangri-La Dialogue represents the highest concentration of defence and security leaders in Asia.
Since its inaugural meeting in 2002, the dialogue organized by the non-governmental London-based International Institute for Strategic Studies (IISS) has also expanded as a venue for diplomats from the Unites States and Europe.
GMR picks 100% stake in Island Power
Submitted by Rajvir Khanna on Fri, 05/29/2009 - 22:22.
GMR Group, the infrastructure major, has entered into an agreement with the international power producer InterGen NV (Intergen) to acquire Intergen's 100% ownership stake in Island Power- a Singapore based private Electric utility gas firm.
Island Power is currently developing an 800 MW combined-style power facility fired by natural gas to be located on Jurong Island, Singapore.
According to market experts, the move will enable GMR to enter the South East Asian energy market.
Report by Business Times denied by Chartered
Submitted by Sumeet Kak on Sat, 05/30/2009 - 12:55.
The recent report by Business Times about Chartered Semiconductor Manufacturing Ltd., the world’s third-largest contract chipmaker, receiving a bid from Abu Dhabi’s Advanced Technology Investment Co, has been denied by the company.
The company said that it has not received any such bid from ATIC, while adding that Chartered engages various parties in discussions to pursue business opportunities or concerning the strategic direction of the company from time to time.
Singapore Stocks close 1.57 per cent higher
Submitted by Neeta Aurora on Sat, 05/30/2009 - 13:08.
Singpoare Stocks surged 1.5 per cent on back of strong global cues and decent rally in regional exchanges. Asian stocks ended higher on hope of easing recession in major financial markets.
Furthermore, the dealers witnessed the blue-chip Straits Times Index (STI) closing up 36.11 points at 2,329.08 on volume of 3.0 billion shares worth 2.64 billion Singapore dollars (1.82 billion US).
The dealers commented that the market reflected gains on other Asian bourses, which were in turn fuelled by a rise on Wall Street.
Malaysia's Firefly starts Flights to Singapore
Submitted by Malini Ranade on Sat, 05/30/2009 - 13:13.
Firefly, the budget airline promoted by Malaysia Airlines, has started flights to Singapore from several Malaysian cities. The company plans regional expansion in month of July and will add more destination in order to increase capacity.
With the new service, Firefly would become the fourth no-frills carrier to fly the lucrative route from the Malaysian city of Kuala Lumpur to Singapore. The company will surely offer some stiff competition to rivals AirAsia, Jetstar and Tiger Airways in a market hit by the global economic slump.
US urges Europeans to give more aid to Afghanistan
Submitted by Mohit Joshi on Sat, 05/30/2009 - 20:18.
Singapore - US Defence Secretary Robert Gates on Saturday urged the international community to give more aid to Afghanistan, stressing that Europeans in particular should do more to establish a sustainable and effective government in the country.
Speaking to delegates at a meeting on Asian security in Singapore, Gates said that three successive NATO summits had declared Afghanistan to be of "highest priority" for the alliance.
Singapore shares climb to highest level since October
Submitted by Mohit Joshi on Mon, 06/01/2009 - 19:15.
Singapore - Singapore shares climbed 2.19 per cent Monday to end at their highest level since October.
The key Straits Times index rose 50.99 points to 2,380.07.
In the broader market, gainers led losers in a ratio of 5 to 1. (dpa)
Neptune Orient Lines plans to raise 1.4 billion Singapore dollars
Submitted by Sahil Nagpal on Tue, 06/02/2009 - 14:40.
Singapore - Singapore's Neptune Orient Lines Ltd (NOL), one of the largest container shippers worldwide, said Tuesday it plans to raise 1.437 billion Singapore dollars (997 million US dollars) from a rights issue to repay debts and seize investment opportunities amid the current economic crisis.
NOL planned to offer about 1.1 billion shares at a price of 1.30 Singapore dollars a share and would issue three rights shares for every four existing shares, the shipping giant said in a statement.
Singapore paedophile gets 12 years of preventative detention
Submitted by Sahil Nagpal on Wed, 06/03/2009 - 19:30.
Singapore - A Singapore court on Wednesday sentenced a man to 12 years preventative detention and 12 strokes of the cane after he pretended to be a police officer to sexually abuse three girls, media reports said.
As a repeat offender, Muhammad Sufian Hussain, 34, would have no chance of an early release, the online edition of The Straits Times newspaper reported.
Hussain showed the girls his card used for payment of public transport fares to make them believe he was a police officer.
Singapore confirms first local case of H1N1 influenza
Submitted by Mohit Joshi on Sun, 06/07/2009 - 11:25.
Singapore - The Singapore government confirmed the city state's first local case of H1N1 influenza in a 39-year-old Indonesian woman who had not been abroad recently, the Health Ministry said in a statement late Saturday.
The patient was the first close contact of an earlier confirmed case to be infected, bringing the total number of influenza H1N1 cases in Singapore to 15. The other 14 patients had been travelling abroad before showing influenza symptoms when back in Singapore.
Singapore father and son jump to death within two hours
Submitted by Sahil Nagpal on Mon, 06/08/2009 - 14:35.
Singapore - A Singapore father and his son fell to death from an apartment block within two hours of each other, news reports said Monday.
The son, Selvaraja Suppiah, 26, fell on Saturday around 11 pm after he had locked his parents and other family members in the flat on the ninth floor of the block, The Straits Times newspaper reported.
When civil defence officers freed the family and discovered the body of the dead son on the foot of the block, his father, Nadeson Suppiah, 55, turned hysterical.
GlaxoSmithKline opens first Asian vaccine plant in Singapore
Submitted by Mohit Joshi on Tue, 06/09/2009 - 21:40.
Singapore - GlaxoSmithKline (GSK), the second biggest drugmaker worldwide, said it plans to start producing vaccines against life-threatening childhood diseases in a new plant opened Tuesday in Singapore from 2011 onwards.
With total costs of 600 million Singapore dollars (411 million US dollars), "the new plant is GSK'S first primary vaccine manufacturing facility and its biggest investment in Asia," the London-based company said.
Singapore's economy expected to contract 6.5 per cent this year
Submitted by Mohit Joshi on Wed, 06/10/2009 - 18:04.
Singapore - Singapore analysts expect the city-state's economy to contract 6.5 per cent this year but to rebound in 2010, a survey by the central bank said Wednesday.
A poll of 19 economists and analysts by the Monetary Authority of Singapore in May showed that experts expected Singapore's gross domestic product (GDP) to shrink even worse than the 4.9-per-cent contraction they predicted in a median forecast in March.
Singapore couple gets eight weeks in jail for sedition
Submitted by Mohit Joshi on Wed, 06/10/2009 - 18:56.
Singapore - A Singapore court Wednesday sentenced a Christian couple to eight weeks in jail each for distributing "seditious or objectionable" publications to Muslims, a media report said.
Ong Kian Cheong, 50, and his wife, Dorothy Chan Hien Leng, 46, had distributed two booklets by US publisher and comic author Jack Chick, which, according to the judge, could spark ill-will or hostility between Christians and Muslims in Singapore.
India to take on Netherlands in a do-or-die match
Submitted by Ashok Rao on Thu, 06/11/2009 - 08:03.
Former champion India will take on Netherlands in a must win match in a match of Pool D in the Junior Hockey World Cup at Singapore tomorrow.
India needs to win the match against Netherlands to qualify to the next round of the Junior Hockey World Cup.
India started their campaign in the Junior Hockey World Cup by defeating Singapore with a huge margin of 10-0 but their second match against New Zealand ended at 2-2 draw yesterday.
Singapore Airlines to use superjumbo to fly to Hong Kong
Submitted by Mohit Joshi on Thu, 06/11/2009 - 19:47.
Singapore - Singapore Airlines said Thursday that it would start using the Airbus A380 superjumbo aircraft on its route to Hong Kong starting July 9.
"The daily A380 flights will replace an existing daily [Boeing] B777-300ER service to Hong Kong," the airline said in a statement.
Hong Kong would be the fifth destination worldwide to which Singapore Airlines operates the A380.
India loses to Netherlands by 3-2
Submitted by Ashok Rao on Fri, 06/12/2009 - 17:09.
The chances of India to qualify for the medal round seem to be diminished as Netherlands defeated India by 3-2 in the Junior men's Hockey World Cup at the Sengkang Sports Complex, Singapore on Thursday.
Mandeep Antil and Innocent Kullu scored one goal each for India in 5th and 53rd minutes of the match respectively while Mink Van Der Weerden of Netherlands scored a hat-trick with three goals in 10th, 13th and 51st minutes of the match.
India will play against Poland in the last pool match on Friday.
Anup and Saina crashes out
Submitted by Bhuvan Kala on Sat, 06/13/2009 - 20:12.Indian challenge in the Singapore Super Series ended on Friday as Anup Sridhar and Saina Nehwal lost their matches in the quarterfinals of the Singapore Super Series.
After defeating world No 2 Peter Gade in second round, Anup was unable to continue his good performance and lost match against Thai Boonsak Ponsana by 21-11 21-8 in the quarterfinal.
Indian ace shuttler Saina Nehwal also lost her quarterfinal match against Chinese world No 4 Lin Wang by 21-19 19-21 14-21.
Nestle to invest 241 million dollars in South-east Asia this year
Submitted by Mohit Joshi on Sat, 06/13/2009 - 21:50.
Singapore - The world's largest food company, Nestle SA, said Saturday it would invest 260 millions Swiss Francs (241 million dollars) in South-east Asia this year to expand its business and manufacturing facilities in the region.
"The ongoing investments demonstrate our confidence in the region," chief executive officer Paul Bulcke said in Singapore.
India fails to make into quarter finals
Submitted by Bhuvan Kala on Sun, 06/14/2009 - 20:38.
India has defeated Poland by 4-2 in their last pool match but failed to qualify for the quarterfinals as match between New Zealand and Netherlands ended at 2-2 draw in the Junior Hockey World Cup at Singapore yesterday.
Even a win on Poland was not sufficient for India to enter in to the quarterfinals as the outcome of the match between New Zealand and Netherlands was decider of the fate of the Indian team in the Junior Hockey World Cup.
Singapore's unemployment rate jumps to 3.3 per cent in March
Submitted by Sahil Nagpal on Mon, 06/15/2009 - 12:56.
Singapore - Singapore's unemployment rate jumped to 3.3 per cent in March, up from 2.5 per cent in December 2008, as the global economic downturn took its toll on the city-state's labour market, the Ministry of Manpower said Monday.
The figure was slightly higher than the rate of 3.2 per cent the ministry predicted in April.
SingTel launches digital music download service – AMPed
Submitted by Darpana Kutty on Mon, 06/15/2009 - 16:35.
The leading telecommunications company of Asia – SingTel (Singapore Telecommunications Limited) on Sunday launched its digital music download service – AMPed – for its mobile subscribers in Singapore.
The AMPed, developed with Universal Music Group, allows SingTel subscribers unlimited music downloads. The service allows SingTel mobile subscribers to access music videos, entertainment news, pre-album releases and live performances with stars.
Singapore shares close down 2.55 per cent
Submitted by Mohit Joshi on Mon, 06/15/2009 - 20:07.
Singapore - Singapore shares closed down 2.55 per cent Monday as other major stock markets around Asia also posted losses.
The key Straits Times index fell 60.51 points to 2,316.56.(dpa)
Singapore Airlines posts drop in passenger numbers
Submitted by Sahil Nagpal on Mon, 06/15/2009 - 20:30.
Singapore - Singapore Airlines (SIA), one of the biggest carriers worldwide, on Monday posted a steep drop in passenger numbers as demand for air travel continued to fall due to the global economic downturn and the spread of the H1N1 influenza virus.
In May 2009, SIA carried 1.21 million passengers, down 23.7 per cent from a year ago, the airline said in a statement.
The decline followed the planned reduction in frequencies and termination of services on some routes.
Plan for separation of conjoined Indian twins stirs debate
Submitted by Mohit Joshi on Tue, 06/16/2009 - 14:35.
Singapore - For Vani and Veena separation would be a relief. Born to landless labourers in the Indian state Andhra Pradesh, the 5-year-old twin sisters are conjoined at the head.
Fused together at the skull, even walking is painful for Vani and Veena as their heads move in grotesque-looking contortions.
But Vani and Veena may get a chance to live a new life later this year.
India crushes Belgium by 4-0
Submitted by Ashok Rao on Tue, 06/16/2009 - 21:18.
India has defeated Belgum by 4-0 in their second match of Group G for the 9th to 16th position play-off in the junior men's hockey World Cup at the Seng Kang Sports Complex, Singapore on Monday.
Captain Diwakar Ram, Mohammad Amir Khan, Victo Singh and Jay Karan scored one goal each for India in 25th, 27th, 40th and 59th minute respectively.
With two wins in the last two matches of Group G Indian team is now at the top position in the Group G with six points in the junior men's hockey World Cup and India will now certainly play for 9th-
10th position playoff match.
Singapore's non-oil exports improve despite 12-per-cent drop
Submitted by Mohit Joshi on Wed, 06/17/2009 - 17:01.
Singapore - The fall in Singapore's external trade levelled off in May as non-oil exports dropped by 12 per cent year-on-year, government data released Wednesday showed, thus raising hopes that the worst might be over for the city-state's economy.
The decline in May represented the 13th month of contraction on a year-to-year basis, as Singapore battles its worst recession for more than three decades amid the global economic downturn.
Singapore court sentences Cambodian youth to jail term
Submitted by Mohit Joshi on Thu, 06/18/2009 - 19:19.
Singapore - A Singapore court Thursday sentenced a Cambodian management student to three months in jail for outraging the modesty of two women, media reports said.
Chhuon Ratana, 20, had pleaded guilty to squeezing the breasts of two women at a club in Singapore's popular nightlife area Clarke Quay in May last year.
SIA pilots agree with pay cuts, non-paid leave
Submitted by Keshav Seth on Sun, 06/21/2009 - 08:13.
As per the media reports, an agreement have been arrived upon between Singapore Airlines (SIA) and its pilots' union on pay cuts and non-paid leaves.
The latest move is being seen as the cost-cutting effort of the airline to be able to meet the effects of the global economic downturn.
Via a statement issued late Friday, SIA said that pilots have agreed to take a day of leave each month without pay.
Singapore quarantines Philippine football team over flu
Submitted by Sahil Nagpal on Sun, 06/21/2009 - 17:34.
Singapore - Singapore has quarantined all players and coaches of a Philippine football team coming to the city-state for the Asian Youth Games after one player tested positive for influenza H1N1, officials said Sunday.
The 14-year-old boy came to Singapore from Manila on Friday with 18 teammates and two coaches and developed fever during a practice session, but is now in stable condition in hospital.
His teammates and coaches were brought to a Singapore beach resort which the government set up to isolate foreigners for quarantine purposes, a spokeswoman for the Games said.
Singapore tries hard to counter demographic challenges
Submitted by Sahil Nagpal on Mon, 06/22/2009 - 13:43.
Singapore - At first, all mourners feel embarrassed. "I am not going to sing praises for my late husband," a widow said at a funeral. "Instead, I want to talk about some things that will make some of you feel a bit uncomfortable."
Vividly she described the bodily functions of her late husband, his snoring and farting in bed.
"And what I wouldn't give just to hear these sounds again before I sleep," the widow continued.
Singapore pledges cooperation with Thailand to strengthen ASEAN
Submitted by Mohit Joshi on Mon, 06/22/2009 - 18:07.
Singapore - Singapore Prime Minister Lee Hsien Loong Monday said the city-state would work closely with Thailand as the chair of the Association of South-East Asian Nations (ASEAN) to strengthen the organisation and make steady progress on its integration.
"We must focus our energies in the coming months to ensure a productive meeting at the ASEAN summit in October," Lee said at an official lunch in honour of Thai Prime Minister Abhisit Vejjajiva, who was on a one-day official visit to Singapore.
Fall in cargo volume eases at Singapore's Neptune Orient Lines
Submitted by Mohit Joshi on Mon, 06/22/2009 - 20:27.
Singapore - Container shipping volume at Singapore's Neptune Orient Lines (NOL) fell by 21 per cent for the four weeks to May 29 compared to the same period a year ago, the company said Monday.
For NOL, one of the biggest container shippers worldwide, it was the smallest fall since it posted a 35-per-cent drop in volume for the four-week operating period to February 6.
From May 2 to May 29, NOL moved 159,100 40-foot equivalent units (FEU), down from 201,700 FEU in the same period in 2008, the company said in a statement.
Australian journalist released from Singapore prison
Submitted by Sahil Nagpal on Tue, 06/23/2009 - 14:07.
Singapore - An Australian television journalist who served a jail term in Singapore for drug offences has been released from the city-state's Changi prison Tuesday, a prison spokesman said.
Peter Lloyd, 42, a former correspondent for the Australian Broadcasting Corporation (ABC) in India, had been sentenced in December to 10 months in jail after pleading guilty to possessing and consuming drugs.
"He has been released and is no longer in our custody," the prison spokesman said.
Former ABC correspondent serving term on drug charges freed from Singapore jail
Submitted by Mohit Joshi on Tue, 06/23/2009 - 19:28.
Singapore, June 23 : Former ABC correspondent, Peter Lloyd, has been released from Singapore prison, where he was detained on drug offences.
The foreign correspondent was jailed in December for 10 months for possessing a small amount of methamphetamine and implements used to consume it, The Age reports.
After spending six months in Changi prison, Lloyd has been freed four months before the end of his sentence due to good behavior.
Singapore's planned Resorts World at Sentosa expects fewer visitors
Submitted by Mohit Joshi on Thu, 06/25/2009 - 18:16.
Singapore - The developer of the multi-billion dollar Resorts World at Singapore's Sentosa island on Thursday said it will have a soft opening early in 2010, but it has scaled down the expected number of visitors due to the global recession.
"We will open early 2010," said executive vice president of projects Michael Chin. "The target is first quarter 2010."
Singapore port says no request by tracked North Korean vessel
Submitted by Sahil Nagpal on Thu, 06/25/2009 - 20:06.Singapore - Singapore's maritime and port authority said Thursday it has not received any request from a North Korean ship suspected to carrying missiles and weapon parts to call at the city-state's port.
The vessel Kang Nam left North Korea about a week ago and has been monitored by a US Navy ship under UN sanctions which bar North Korea from exporting weapons.
"The Maritime and Port Authority of Singapore has not been informed of any intention by Kang Nam 1 to call at the Port of Singapore," the port authority said in a statement.
Reports from South Korea said the Kang Nam was on its way to Myanmar via Singapore.
Singapore's ailing tourism industry plummets further in May
Submitted by Sahil Nagpal on Fri, 06/26/2009 - 18:11.Singapore - Singapore's ailing tourism industry plummeted further in May as hotel room revenue fell a heavy 37.7 per cent compared to a year earlier and the number of visitor arrivals was back to a double-digit decline, the Singapore Tourism Board said Friday.
In May, hotel room revenue in the city-state reached an estimated 112 million Singapore dollars (82.4 million US dollars), down from 180 million Singapore dollars a year ago.
Total visitor arrivals came up to 730,000, a decline of 13 per cent compared to May 2008.
India Bags Two Medals In Asian Youth Games
Submitted by Ashok Rao on Wed, 07/01/2009 - 18:21.
India has won two medals including one gold and one silver medal on the first day of the first edition of Asian Youth Games in Singapore on Tuesday.
Arjun won gold medal in the boys discus throw and the second medal for India came as Rahul Kumar won silver medal in boys 1500m race.
Singaporeans show optimism in spending
Submitted by senthilkumar on Sat, 07/04/2009 - 03:38.
The latest MasterCard Worldwide survey on the purchasing priorities has suggested that citizens of Singapore are getting positive about the future once again, and a smaller number of them are planning to cut back on their spending. The survey, which took into account purchasing priorities of 401 consumers, found that 41 per cent would cut back on discretionary spending in the next six months.
India Ends Without Increasing Medal Tally
Submitted by Bhuvan Kala on Sun, 07/05/2009 - 15:38.
The fifth day was disappointing for India as they failed to add another medal to their tally and slipped to fourth place in the inaugural Asian Youth Games in Singapore on Saturday.
India players put their challenge in three events on day five including swimming, shooting and table tennis.
Aaron Agnel D'Souza has qualified for the final of the boys 200m butterfly event after ending at the second spot in the semifinal with a timing of 56.27 seconds on yesterday. He had also won the gold medal in the boys 200m freestyle event earlier in the tournament.
Singapore woman on trial for letting husband cane her son 100 times
Submitted by Mohit Joshi on Tue, 07/07/2009 - 20:26.
Singapore - A Singapore woman has to stand trial for allowing her husband to cane her 10-year-old son with 100 strokes as punishment for lying, media reports said Tuesday.
The 39-year-old woman, who was not identified to protect the boy's identity, could be fined up to 4,000 Singapore dollars (2,745 US dollars) or jailed for up to four years or both.
The court was expected to deliver its judgment later this month.
Singapore punishes financial institutions for selling Lehman notes
Submitted by Mohit Joshi on Tue, 07/07/2009 - 22:37.
Singapore - Singapore on Tuesday suspended 10 financial institutions for improperly selling credit notes linked to the collapsed US investment bank Lehmann Brothers.
The bans would range from six months to two years starting on July 1 and would only be lifted when the central bank "is satisfied with the measures they have put in place," the Monetary Authority of Singapore said.
Opening of Singapore's first casino delayed for several months
Submitted by Mohit Joshi on Wed, 07/08/2009 - 18:30.
Singapore - The developer of Singapore's first casino said Wednesday the multi-billion-dollar complex would be delayed several months, putting it in a race with the city-state's second casino, scheduled to open in the first quarter of 2010.
The Marina Bay Sands, originally projected to open before the end of the year, is now expected to have its first phase completed in January or February, Las Vegas Sands Corp chief executive Sheldon Adelson said.
Singapore court sentences vice president of Mitsui Oil to jail
Submitted by Mohit Joshi on Thu, 07/09/2009 - 17:49.
Singapore - A Singapore court on Thursday sentenced the former executive vice president of Japanese company Mitsui Oil (Asia) to 36 months in jail for aiding a scam that eventually cost the firm 81 million US dollars and led to its liquidation, media reports said.
Takahashi Masatsugu, 51, admitted that he helped his then-colleague Noriyuki Yamazaki, 37, at the Singapore-based subsidiary of Japanese trading house Mitsui and Co to cover Yamazaki's losses in trading by reporting false prices for the petroleum product naphtha to the Tokyo head office.
Singapore stock market closes up 2.12 per cent
Submitted by Mohit Joshi on Thu, 07/09/2009 - 19:01.
Singapore - Singapore shares closed up 2.12 per cent Thursday as stock markets around Asia showed mixed results.
The key Straits Times index gained 47.84 points to 2,307.61.
Gainers beat losers 296 to 145. (dpa)
Singapore auxiliary police officer sentenced for theft
Submitted by Mohit Joshi on Thu, 07/09/2009 - 21:01.
Singapore - A Singapore court Thursday sentenced an auxiliary police officer to seven years in jail after he used his inside knowledge of security procedures to steal 2 million Singapore dollars (1.37 million US dollars) from his employer, media reports said.
Assigned to deliver nine consignments of cash to the premises of security company Certis Cisco on April 12, Stanley Ong Beng Hock, 28, managed to filch an envelope with two million Singapore dollars in 1,000-dollar-notes while packing and stacking boxes with money on trolleys.
Singapore court sentences teacher to jail for maid abuse
Submitted by Sahil Nagpal on Fri, 07/10/2009 - 17:35.
Singapore - A Singapore court on Friday sentenced a teacher to six weeks in jail for maid abuse, media reports said.
Mat Nooh Sajari, 38, was found guilty of causing hurt to the 33-year-old maid, identified as Ms Sulastri, on several occasions in February 2007, but he appealed the verdict and was released on bail of 10,000 Singapore dollars (6,845 US dollars).
Singapore mum jailed seven years for killing her son
Submitted by Sahil Nagpal on Fri, 07/10/2009 - 19:49.
Singapore - A Singapore court on Friday sentenced a single mum who killed her son and then tried to take her own life to seven years in jail, in a case the judge described as "tragic and unfortunate," media reports said.
Found by psychiatrists to suffer from an "abnormality of the mind," Kang Ka Li, 37, suffocated her 12-year-old son to death with a towel on May 15 last year, after feeding him sedatives.
Singapore becomes top ASEAN investor in India
Submitted by Neha Malik on Mon, 07/13/2009 - 23:12.
A recent study, conducted by industry body FICCI, has suggested that in the year 2008, the biggest investor among the 10-nation ASEAN bloc in India, was Singapore.
In 2005, investment from the island city state was Rs 1,416.90 crore.
The second biggest investor was Malaysia, with an investment of Rs 453.80 crore last year, which is a big jump from its Rs 21.30 crore in 2005.
Singapore revises forecast as economy soars in second quarter
Submitted by Mohit Joshi on Tue, 07/14/2009 - 11:50.
Singapore - Singapore's government on Tuesday raised its growth forecast for 2009 from a previous forecast as the city-state's export-dependant economy soared more than 20 per cent in the second quarter to pull out of its worst recession in four decades.
After a year of decline, Singapore's gross domestic product (GDP) surged 20.4 per cent in the three months through June 2009 compared to the first quarter, mainly driven by a spike in biomedical manufacturing output, the Ministry of Trade and Industry said in a statement.
Race to open Singapore's first casino heats up with charity event
Submitted by Mohit Joshi on Tue, 07/14/2009 - 19:08.
Singapore - Resorts World at Sentosa on Tuesday announced a charity concert for December, ahead of the scheduled soft opening early 2010, putting pressure on rival casino Marina Bay Sands.
The Grand Theatre of the island resort would host a child charity concert December 19-21, Resorts World said in a statement, adding that the 4.5-billion-US-dollar resort construction was on schedule.
"The opening of the Grand Theatre is a nice surprise," a company spokesman said. "We are on track to keep our promise."
Singapore Airlines to use Airbus superjumbo on Melbourne route
Submitted by Sahil Nagpal on Wed, 07/15/2009 - 14:14.
Singapore - Singapore Airlines said Wednesday it would start using the Airbus A380 superjumbo aircraft on its route to Melbourne, Australia's second most populous city, starting September 29.
"The daily A380 flights will replace an existing daily Boeing 747-400 service to Melbourne," the airline said in a statement.
The 471-seat superjumbo would increase the seat capacity to Melbourne by 10 per cent without the need for additional flights.
Singapore's exports fell the least in nine months in June
Submitted by Sahil Nagpal on Fri, 07/17/2009 - 16:21.Singapore - Singapore's non-oil exports fell the least in nine months in June, government data released Friday showed, thus raising hopes of a rebound as the city-state tries to emerge from its worst recession in more than four decades.
The fall in external trade levelled off in June, as non-oil exports declined 11 per cent from a year ago, compared to a fall by 12 per cent in May, said International Enterprise Singapore, the city-state's agency to promote external business.
Changi may form JVs with more Indian firms
Submitted by Shalini Kakkad on Fri, 07/17/2009 - 23:25.
Changi Airports International has announced its decision to expand its presence in Indian airport development programs, forming joint venture with more Indian companies. The firm had earlier acquired 26 per cent stakes, worth $20, in Bengal Aerotropolis Pvt Ltd (BAPL).
Wong Woon Liong, Chief Executive Officer of Changi, said: "We are always open to opportunities for investment." The company has made the bid along with Tata real Estate and Leela Group, for developing airports in Karnataka and Kerla.
Singapore man jailed for 24 years for raping and abusing girl
Submitted by Mohit Joshi on Sat, 07/18/2009 - 12:22.
Singapore - A Singapore court sentenced a man to 24 years in jail after he raped and abused a girl for more than seven years, a media report said Saturday.
The man, now 59, who was not named to protect the victim's identity, was a spiritual adviser to the girl's father and had been considered a family friend by her parents.
Singapore reports first death related to H1N1 influenza
Submitted by Mohit Joshi on Sat, 07/18/2009 - 21:55.
Singapore - Singapore on Saturday reported its first death related to H1N1 influenza. The victim was a 49-year-old man with multiple health problems.
The patient, who suffered from diabetes, hypertension and high cholesterol, was diagnosed with H1N1, also known as swine flu, and died in hospital Saturday afternoon of a heart attack caused by severe pneumonia with an underlying flu infection, the Ministry of Health said in a statement.
There are currently 43 confirmed cases of H1N1 influenza in Singapore hospitals.
Groser departs to attend APEC Trade Ministers Meeting
Submitted by Gaurav Mehra on Mon, 07/20/2009 - 16:58.
Today, Trade Minister Tim Groser will leave for the annual Asia Pacific Economic Co-operation (APEC) trade ministers meeting in Singapore, where he would be highlighting on the necessity of advancing trade liberalization talks.
He said that this comes as one of the biggest Asia Pacific trade meetings this year.
He continued: "I want to take the opportunity to remind ministers that we need a deal in the WTO (World Trade Organization) Doha round to help lift the region out of economic crisis."
Options to Increase Liquidity given to Singapore Banks by MAS
Submitted by Harish Dhawan on Mon, 07/20/2009 - 17:24.
On Thursday, an announcement regarding new steps that will give banks more options to increase their liquidity was made by Singapore's central bank. However, it also acknowledged that its monetary policy remains appropriate to support the economy.
The basic aim of the Monetary Authority of Singapore's new measures is to aid banks to better manage their risks and liquidity profiles.
Fall in shipping volume eases at Singapore's Neptune Orient Lines
Submitted by Mohit Joshi on Mon, 07/20/2009 - 20:43.
Singapore - Singapore's Neptune Orient Lines (NOL), one the word's leading container shippers, Monday said its cargo volume for the four weeks to June 26 slipped
14 per cent from the same period 2008.
It was the smallest fall for NOL since the company posted a hefty 35-per-cent drop in shipping volume for the four-week operating period to February 6 and an improvement from the slump by 21 per cent the company reported for the previous operating period to May 29.
Goodyear will not become CEO of Singapore's state holding Temasek
Submitted by Mohit Joshi on Tue, 07/21/2009 - 20:24.
Singapore - Singapore's state investment company Temasek Holdings said Tuesday US businessman Charles Goodyear would not become its new chief executive due to differences over strategy, thus reversing its plan for a leadership transition announced in February.
Goodyear, the former boss of the global resources company BHP Billiton, was to succeed current Temasek CEO Ho Ching, the wife of Singapore's Prime Minister Lee Hsien Loong, on October 1, 2009.
However, both parties had decided to terminate the leadership transition process as "there are differences regarding strategic issues that could not be resolved," Temasek said in a statement.
APEC members agree to shun protectionism, step up trade pact effort
Submitted by Sahil Nagpal on Wed, 07/22/2009 - 16:10.
Singapore - Trade ministers of the Asia-Pacific Economic Cooperation (APEC) forum on Wednesday agreed to shun protectionism and step up their efforts to conclude a new global trade pact by 2010.
"We are very conscious that if protectionism is not controlled, this could be a severe setback to our growth prospects," Singapore Trade Minister Lim Hng Kiang said after hosting a two-day meeting with his colleagues from 21 APEC countries.
WTO urges speedy conclusion of Doha round to fight protectionism
Submitted by Mohit Joshi on Wed, 07/22/2009 - 19:03.
Singapore - World Trade Organization (WTO) Director-General Pascal Lamy on Wednesday urged a rapid completion of the Doha world trade talks next year as insurance against protectionism following the global economic crisis.
"I can think of no more effective means of signalling a shared determination to weather the crisis at a minimum cost than to bring the Doha round to a speedy conclusion," Lamy said in Singapore.
Singapore reports two more deaths related to influenza H1N1
Submitted by Mohit Joshi on Wed, 07/22/2009 - 21:36.
Singapore - Singapore on Wednesday reported two more fatalities related to H1N1 influenza.
A 13-year-old boy suffering from epilepsy died of a prolonged epileptic seizure with influenza H1N1 infection as a contributing factor, the Health Ministry said.
The other victim, a 55-year-old man with an advanced motor neuron disease, died of severe pneumonia and H1N1 influenza.
The country recorded its first swine-flu death at the weekend when a man with underlying heart problems died.
Singapore's Chartered Semiconductor posts loss, expects improvement
Submitted by Mohit Joshi on Fri, 07/24/2009 - 18:59.
Singapore - Singapore chip-maker Chartered Semiconductor Manufacturing Ltd said Friday it stayed in the red in the second quarter, but expected improvement in its business for the rest of the year.
For the three months to June 30, Chartered posted a net loss of 39.4 million US dollars, reversing a profit of 43.4 million US dollars it made in the same period last year, the company said in a statement.
However, the numbers showed "a substantial improvement" from the previous quarter, when Chartered Semiconductor reported a net loss of 98.8 million US dollars, according to the statement.
Singapore prisoners get stiff sentences for assaulting cellmate
Submitted by Mohit Joshi on Mon, 07/27/2009 - 18:54.
Singapore - A Singapore court on Monday sentenced an inmate of Singapore's Changi prison to 19 years in jail and two other prisoners to 16 years in jail for assaulting a former cellmate, media reports said.
In April and May last year, the trio - Iryan Abdul Karim, 21; Muhammad Hamdan Abdul Rahman, 20; and Mohammed Zameen Abdul Manoff, 22 - beat up a 22-year-old cellmate and forced him to perform oral sex on them, the online edition of the Straits Times newspaper reported.
Singapore mother sentenced to jail for allowing husband to cane son
Submitted by Mohit Joshi on Tue, 07/28/2009 - 15:20.
Singapore - A Singapore court on Tuesday sentenced a mother to nine months in jail for allowing her husband to give her 10-year-old son 100 strokes of the cane as a punishment for lying, media reports said.
The 39-year-old woman, who was not identified to protect the boy's identity, handed her husband two rattan canes and told him to punish her son after the boy supposedly lied about a test at school.
Singapore's Temasek Holdings might invite public co-investors
Submitted by Mohit Joshi on Wed, 07/29/2009 - 18:09.
Singapore - Singapore's state-owned investment company Temasek Holdings is looking for ways to invite the public to co-invest, chief executive officer Ho Ching said Wednesday.
"Over the longer term, we are exploring the feasibility of creating one more group of stakeholders," she said at a forum organized by the Institute of Policy Studies think tank.
"We can do this by inviting the public to co-invest with Temasek," Ho said.
Maytas ties up with Singapore based firm to retain metro rail work
Submitted by Gaurav Mehra on Wed, 07/29/2009 - 23:38.
The Andhra Pradesh High Court has directed the state's government to maintain status quo on the termination of the Hyderabad metro contract awarded to Maytas Infra, in response to Maytas Infrastructure's petition challenging the government's move to re-tender the metro rail project.
The Maytas Infra-led consortium had earlier won the bid for prestigious Metro Rail project, but its failure in making a financial disclosure led to the scrapping of the project by the AP government.
Singapore's Capitaland posts net loss for second quarter
Submitted by Mohit Joshi on Thu, 07/30/2009 - 16:23.
Singapore - Singapore's Capitaland, one of Asia's biggest property developers, on Thursday posted a net loss for the second quarter due to writedowns on its investments and said the outlook for 2009 was uncertain.
In the three months from March to June, Capitaland slipped into the red with a net loss of 156.9 million Singapore dollars (108.5 million US dollars), reversing a net profit of 515.2 million Singapore dollars for the same period 2008, the company said.
Singapore Airlines posts first quarterly loss in six years
Submitted by Mohit Joshi on Thu, 07/30/2009 - 21:43.
Singapore - Singapore Airlines Ltd on Thursday posted its first quarterly loss since 2003 and said it expected a loss for the full year if the tough conditions for the airline industry persist.
The global economic downturn, the outbreak of swine flu and fuel hedging resulted in a loss of 307.1 million Singapore dollars (212.7 million US dollars) in the company's first quarter, which ended in June. The loss compared with a profit of 358.6 million Singapore dollars a year ago, the company said in a statement.
Singapore's tourism industry plummets amid global economic downturn
Submitted by Mohit Joshi on Thu, 07/30/2009 - 22:29.Singapore - Singapore's tourism industry plummeted in the first half of 2009 as travellers cut back on their spending because of the global economic crisis, figures released Thursday by the Singapore Tourism Board showed.
Visitor arrivals came to 4.5 million from January to June, a decline of 11.5 per cent from the first half of 2008, the board said.
Tourism receipts were estimated at 6.4 billion Singapore dollars (4.43 billion US dollars), a decline of 13.5 per cent.
Singapore's unemployment rate stabilizes at 3.3 per cent
Submitted by Sahil Nagpal on Fri, 07/31/2009 - 13:51.
Singapore - Singapore's unemployment rate stabilized at 3.3 per cent in June, the government said Friday, as the city-state's economy showed signs of recovery from its worst recession for more than four decades.
While the unemployment rate remained unchanged compared to March, the number of redundancies fell sharply in the second quarter.
According to preliminary estimates, 5,500 workers lost their jobs in the three months from March to June, the Ministry of Manpower said.
Singapore's OCBC Bank posts profit rise of 10 per cent
Submitted by Sahil Nagpal on Mon, 08/03/2009 - 18:04.
Singapore - Singapore's Oversea-Chinese Banking Corp Ltd (OCBC Bank) said Monday that the worst might be over for the global banking sector as it posted a 10-per-cent rise in net profit for the second quarter.
Net profit in the period from March to June reached 466 million Singapore dollars (324.24 million US dollars), up from 425 million Singapore dollars a year ago, a bank statement said.
44 years after split, Singapore, Malaysia seek better terms
Submitted by Kai Portmann on Tue, 08/04/2009 - 12:15.
Singapore - The marriage was unhappy and short-lived. In September 1963, Malaya and Singapore tied the knot to form the state of Malaysia which also included Sarawak and Sabah.
But what seemed to be a logical finalization of century-long strong economic ties between neighbours came to an end just two years later, as rising fears among Malays over Singapore wanting to dominate the new state led to a break-up.
India, Singapore sign Joint Action Plan on tourism cooperation
Submitted by Mohit Joshi on Tue, 08/04/2009 - 17:47.
New Delhi, Aug 4 : India and Singapore signed a Joint Action Plan on tourism cooperation here today.
At the signing ceremony, the Indian side was represented by Sujit Banerjee, Secretary (Tourism), Government of India, while the Singapore side was represented by Lawrence Leong Yue Kheong, Assistant Chief Executive of International Group, Singapore Tourism Board, Singapore.
Hard disk maker Seagate to close Singapore plant by end of 2010
Submitted by Mohit Joshi on Tue, 08/04/2009 - 19:20.
Singapore - Hard disk maker Seagate Technology said Tuesday it would close its plant in Singapore by the end of 2010 and move its hard disk drive manufacturing operations out of the city-state to existing company sites in other countries.
The closing would affect about 2,000 employees, a company spokeswoman said.
The Singapore plant currently has a workforce of about 4,000 employees, according to the Seagate website.
Singapore's UOB Bank posts slump in profit, gives rosy outlook
Submitted by Sahil Nagpal on Wed, 08/05/2009 - 16:58.Singapore - Singapore's
Group (UOB) on Wednesday posted a 21.7-per-cent slump in net profit year-on-year for the second quarter as bad debt charges more than doubled, but gave a rosy outlook for the future.
Net profit for the period from March to June reached 470 million Singapore dollars (327,5 million US dollars), down from 601 million Singapore dollars a year earlier, UOB said in a statement.
"In view of the uncertain global economic outlook," the bank said, it set aside 465 million Singapore dollars for bad debt charges in the second quarter, an increase by
158 per cent over the same period 2008.
Singapore teen appeals to be jailed and caned
Submitted by Mohit Joshi on Wed, 08/05/2009 - 20:23.
Singapore - A Singapore teen who had been in trouble with law since the age of 12 on Wednesday asked for a harsher sentence in court to prevent himself from lapsing back into crime, media reports said.
Danny Koh Jia Gui, 18, who had been convicted of theft, robbery, rioting, drug and traffic offences since 2003, told the judge he believed that a jail term and caning could deter him from reoffending, after probation and reformative training failed to do the trick for him.
Singapore's Neptune Orient Lines posts quarterly loss
Submitted by Sahil Nagpal on Thu, 08/06/2009 - 11:20.
Singapore - Singapore's Neptune Orient Lines (NOL), one of the worldwide largest container shippers, on Thursday posted a loss for the second quarter and reiterated that it expected a significant loss for the whole of 2009 due to falling cargo volume.
Net loss for the three-month period to June was 146 million US dollars, reversing a profit of 76 million US dollars from a year ago, NOL said in a statement.
Revenue for the second quarter came to 1.38 billion US dollars, down 38 per cent from a year earlier.
Singapore trade minister: Too early to see sustained recovery
Submitted by Mohit Joshi on Thu, 08/06/2009 - 16:28.
Singapore - Singapore's trade minister said Thursday that it was still too early to see a strong and sustained recovery for the city-state's economy, although some key indicators pointed towards signs of stabilization locally and globally.
"Several of our local economic indicators continue to be weak," Trade Minister Lim Hng Kiang told an investment seminar.
Singapore's DBS Bank posts 15-per-cent fall in quarterly profit
Submitted by Sahil Nagpal on Fri, 08/07/2009 - 12:14.
Singapore - Singapore's DBS Group Holdings, the biggest bank in South-East Asia, said Friday that its net profit for the second quarter fell by 15 per cent from a year ago as bad debt charges soared.
Net profit for the three months of April-June reached 552 million Singapore dollars (384.34 million US dollars), down from 652 million Singapore dollars a year ago, DBS said in a statement.
Singapore premier warns of more job losses in 2009
Submitted by Mohit Joshi on Sat, 08/08/2009 - 23:26.
Singapore - Singapore's Prime Minister Lee Hsien Loong on Saturday warned the city-state to brace for more job losses in 2009, although he said the economy did better than the government had feared.
"We might see another wave of retrenchments later in the year," Lee said in a speech broadcasted on Singapore's state television on the eve of national day, marking 44 years of independence.
India and Singapore sign deal for tourism promotion
Submitted by Neeta Aurora on Sun, 08/09/2009 - 23:00.
India and Singapore will work to promote tourism between the two countries under a joint action plan signed between the Tourism Minister Ms. Selja and the Singapore Minister of Trade, Industry and Education S. Iswaran in New Delhi .
Kumari Selja said, "We have great historical relations with Singapore. We want investors from that country to invest in hotels, local tourism and a number of lucrative areas."
Singapore's GDP jumps 20.7 per cent in second quarter
Submitted by Mohit Joshi on Tue, 08/11/2009 - 11:22.
Singapore - Singapore's economy grew faster than expected in the second quarter 2009, the government said Tuesday, but warned that any sustained recovery was uncertain without a turnaround in demand in the city-state's major export markets.
From March to June, Singapore's gross domestic product (GDP) soared 20.7 per cent compared to the previous quarter, driven by strong gains in biomedical manufacturing and inventory restocking in the electronics sector, the Ministry of Trade and Industry said in a statement.
Singapore toddler survives nine-storey fall from open window
Submitted by Sahil Nagpal on Tue, 08/11/2009 - 12:04.
Singapore - A Singapore toddler survived a fall from an open window of the family flat on the ninth floor of an apartment building, escaping with cuts to his face and body as well as a fractured ankle, a media report said Tuesday.
Park Sihu, a 3-year-old boy, landed in bushes in front of the building.
He was found conscious and crying, but still able to respond to his mother, despite clearly being traumatized, the Straits Times newspaper reported.
Singapore government laments guilty verdict for Suu Kyi
Submitted by Mohit Joshi on Tue, 08/11/2009 - 23:36.
Singapore - Singapore lamented the guilty verdict for Myanmar opposition leader Aung San Suu Kyi Tuesday, saying it hoped the military junta would allow her to participate in politics soon.
"We are disappointed to learn that Daw Aung San Suu Kyi was found guilty," a Foreign Ministry spokesman said.
A Myanmar court on Tuesday found Suu Kyi guilty of breaking the terms of her house arrest by allowing a US national to swim into her lakeside compound in May.
Singapore's SingTel expands mobile customer base by 33 per cent
Submitted by Mohit Joshi on Wed, 08/12/2009 - 20:08.
Singapore - Singapore Telecommunications Ltd said Wednesday its combined regional mobile phone customer base grew by 33 per cent to more than 262 million customers.
SingTel, South-east Asia's biggest telecommunications company, said its regional customer base increased by 64 million during the 12-month period ending in June.
SingTel profits up 7.7 per cent in first quarter
Submitted by Sahil Nagpal on Thu, 08/13/2009 - 11:34.
Singapore - Singapore Telecommunications Limited (SingTel) on Thursday said its net profit for the first quarter 2009 rose 7.7 per cent over a year ago, but warned that its operating environment remained challenging.
For the first quarter ended June 30, Southeast Asia's biggest telecommunications company posted a net profit of 945 million Singapore dollars (655 million US dollars), up from 878 million Singapore dollars a year earlier, SingTel said in a statement.
Singapore censors cut scenes of comedy Bruno
Submitted by Kiran Pahwa on Thu, 08/13/2009 - 17:27.
Singapore - Singapore's film censors cut some scenes from Sacha Baron Cohen's comedy Bruno and restricted it to viewers 21 years old and above (R21), as the film is to hit the cinema screens in the city-state next Thursday.
"The film Bruno has crude sexual content which goes beyond R21 guidelines, and hence, some edits have been made to the film," Amy Chua, chairwoman of the board of film censors, said Thursday.
"Similarly, both Britain and Australia have asked for edits to the film," she added.
Singapore prime minister says financial "eye of storm" has passed
Submitted by Sahil Nagpal on Sun, 08/16/2009 - 23:50.
Singapore - Singapore Prime Minister Lee Hsien Loong on Sunday said that the storm of the global economic downturn had passed the city-state - but the outlook beyond the third quarter 2009 was still uncertain.
"We are looking ahead cautiously towards the rest of the year," Lee said in his national day rally speech, marking the 50th anniversary of Singapore's self-government and the 44th anniversary of its independence.
"The third quarter should be alright, beyond that the outlook is still not so clear," Lee added.
Singapore's key exports fell the least in ten months in July
Submitted by Sahil Nagpal on Mon, 08/17/2009 - 15:37.
Singapore - Singapore's key exports fell the least in 10 months in July and bounced back from a decrease in June, government data released Monday showed, suggesting that the city-state's economy was on track to recover from its worst recession in more than four decades.
In July, Singapore's non-oil exports fell a 15th consecutive month year-on-year, but the 8.5-per-cent contraction was the smallest drop since September 2008, said International Enterprise Singapore, the city-state's agency to promote external business.
Singapore shares drop 3.25 per cent
Submitted by Mohit Joshi on Mon, 08/17/2009 - 19:05.
Singapore - Singapore shares dropped 3.25 per cent on Monday, as stock markets around Asia posted hefty losses.
The key Straits Times index fell 85.53 points to 2,545.98 with 2.34 billion shares traded.
Losers beat gainers 520 to 105. (dpa)
Fall in shipping volume eases at Singapore's Neptune Lines
Submitted by Mohit Joshi on Mon, 08/17/2009 - 19:31.Singapore - The fall in shipping volume eased at Singapore's Neptune Orient Lines (NOL), the company said Monday, but average revenue per container slumped year-on-year in July.
NOL, one of the largest container shippers worldwide, said its cargo volume for the four weeks to July 24 reached 187,400 40-foot-equivalent units (FEU), down by 11 per cent from 209,800 FEU in the same period 2008.
But it said that was the smallest drop this year, since the company reported a 35-per-cent slump in shipping volume for the operating period to February 6.
Singapore's Temasek has no deadline to find new chief executive
Submitted by Mohit Joshi on Tue, 08/18/2009 - 19:19.
Singapore - Singapore's state investment company Temasek Holdings has not set a deadline to find a replacement for chief executive Ho Ching, after her designated successor made a surprising exit in July, the city-state's finance minister said Tuesday.
US businessman Charles Goodyear was to succeed Ho Ching, the wife of Singapore's Prime Minister Lee Hsien Loong, on October 1, 2009.
Bharti to sell underwater bandwidth
Submitted by Sumeet Kak on Wed, 08/19/2009 - 00:21.
Bharti Airtel is ready to sell bandwidth on its undersea cables to carry traffic in the form of voice and data across the world by various operators using Bharti's network.
The Indian telecom giant, having approximately 200,000 kilometres of international fiber-optic cables, will soon launch a "global wholesale service" in Singapore.
Asian ministers expect more haze from stronger El Nino
Submitted by Sahil Nagpal on Wed, 08/19/2009 - 17:29.
Singapore - Asian environment ministers warned Wednesday against more regional haze pollution in the coming months, as climate forecasters expected a moderate to strong El Nino event in the last quarter of 2009.
"Let us prepare for the worst, (and) do what we can," Singapore Minister of Environment Yaacob Ibrahim said after hosting a ministerial committee meeting of the Association of South-East Asian Nations (ASEAN) on trans-boundary haze pollution.
Cashier sentenced for stealing 489,000 dollars from US embassy
Submitted by Mohit Joshi on Wed, 08/19/2009 - 20:07.
Singapore - A Singapore court sentenced a former cashier at the United States embassy to six years in jail Wednesday for stealing about 489,000 US dollars of consular fees, a media report said.
Hasrinah Hassan, 35, used the money to renovate her flat, go travelling with her husband and finance the couple's extravagant lifestyle, the online edition of the Straits Times newspaper reported.
She started taking the money in early 2003 and continued until until April, when embassy staff discovered discrepancies on refunds Hasrinah processed.
Singapore arrests Nigerian for recruiting women as drug couriers
Submitted by Mohit Joshi on Fri, 08/21/2009 - 12:24.
Singapore - A Nigerian man, believed to be a member of an international drug syndicate has been detained without bail in Singapore for recruiting local women as drug mules, the Straits Times reported Friday.
The Central Narcotics Bureau (CNB) have arrested Okemawalan Ugo Buchi after four months of investigations.
Buchi, 31, was arrested in July, together with an accomplice, a Singaporean woman, who has also been detained for involvement in drug trafficking activities.
Malaysian held in Singapore after drug-smuggling bid
Submitted by Mohit Joshi on Fri, 08/21/2009 - 20:47.
Singapore - Singapore immigration officials arrested a Malaysian man for attempting to smuggle 1 kilogramme of amphetamines at Changi Airport, a newspaper reported Friday.
The man, 32, who faces the death penalty if convicted, arrived from Yangon Thursday and was stopped at customs, the Straits Times said.
A scan of his trolley luggage uncovered a secret compartment in which a bag of drugs was hidden, authorities told the newspaper.
The man was detained and handed over to the Central Narcotics Bureau for investigation.
Singapore's Temasek issues new charter as overseas investment rises
Submitted by Sahil Nagpal on Tue, 08/25/2009 - 18:54.
Singapore - Singapore's state-owned investment company Temasek Holdings Tuesday issued an updated charter that described the fund as an active investor and value-adding shareholder, while downplaying its role to broaden the city-state's economy.
"We have refined our charter to more clearly articulate our focus as a value-oriented investor, and also as a shareholder focused on achieving sustainable returns," chairman S Dhanabalan said.
Singapore gardener gets 18 years, 24 strokes for raping maid
Submitted by Mohit Joshi on Wed, 08/26/2009 - 00:02.
Singapore - A Singapore court on Tuesday sentenced a gardener who had raped a maid from Indonesia to 18 years in jail, media reports said.
Robiul Bhoreshuddin Mondal, 37, a Bangladeshi, confessed to the rape in police statements but later denied the accusation in court, claiming he didn't confess voluntarily.
The judge, however, found him guilty of breaking into the room of the 24-year-old maid and raping her on June 23 last year, the online edition of Straits Times newspaper reported.
Singapore's factory output jumps 12.4 per cent in July
Submitted by Mohit Joshi on Wed, 08/26/2009 - 18:31.
Singapore - Singapore's factory output in July recorded the biggest jump in 16 months boosted by a soaring biomedical sector, government data released Wednesday showed.
Manufacturing output in July climbed 12.4 per cent compared to a year earlier, following a 9-per-cent decline in June, the Singapore Economic Development Board said.
Compared to the previous month, factory output rose 23 per cent in July.
New ultrasensitive electronic sensor offers cost-effective and quicker DNA testing
Submitted by Carina Rose on Sun, 08/30/2009 - 15:55.
Scientists at Singapore's Institute of Bioengineering and Nanotechnology (IBN) claim that they have developed a device called the Nanogap Sensor Array, which is not only cost-effective but also more efficient and less time consuming in testing DNA for disease diagnosis.
Singapore prime minister congratulates Hatoyama, stresses good ties
Submitted by Sahil Nagpal on Mon, 08/31/2009 - 19:20.
Singapore - Singapore Prime Minister Lee Hsien Loong on Monday congratulated Democratic Party of Japan (DPJ) President Yukio Hatoyama on his landslide election win, noting that the two countries enjoy strong and multi-faceted relations.
The DPJ's historic victory clearly reflected the Japanese people's desire for change, Lee said in a letter to Hatoyama
"I hope we will have an opportunity soon to discuss how we can enhance our cooperation," he added. (dpa)
Singapore's DBS Group appoints Citi's Piyush Gupta as CEO
Submitted by Sahil Nagpal on Tue, 09/01/2009 - 15:27.
Singapore - Singapore's DBS Group Holdings Ltd, the biggest bank in South-East Asia, said Tuesday that it appointed Piyush Gupta from Citibank Inc as its chief executive officer, about five months after the death of its previous CEO.
Gupta, 49, is currently Citibank's chief executive for South-East Asia and the Pacific and is to join the DBS Group in November, the bank said in a statement.
The businessman with a 27-year career in banking is to succeed Richard Stanley, who died of cancer in April.
Lonza’s Singapore facility to be purchased by Roche subsidiary
Submitted by Divesh Sharma on Tue, 09/01/2009 - 21:28.
Lonza's cell culture biologic manufacturing facility in Singapore is to be bought by Roche subsidiary Genentech Singapore, declared Swiss drugmaker Roche and drugs industry supplier Lonza on Monday.
The facility carries a purchase price of $290 million plus up to a further $70 million in milestone payments. The facility would also be merged with Genentech Singapore's existing biologic manufacturing plant.
The transaction resulted largely due to Genentech Singapore exercising an option to purchase the facility.
Singapore's economy expected to shrink less than earlier predicted
Submitted by Sahil Nagpal on Wed, 09/02/2009 - 15:33.
Singapore - Singapore analysts expected the city-state's economy to shrink 3.6 per cent in 2009, a survey by the central bank said Wednesday, less than the government forecast of a 4- to 6-per-cent contraction.
A poll of 21 economists and analysts by the Monetary Authority of Singapore in August showed that the experts were more upbeat about Singapore's economy compared with three months ago when they expected Singapore's gross domestic product (GDP) to fall by 6.5 per cent this year.
Singapore Airlines delays delivery of Airbus superjumbo A380
Submitted by Mohit Joshi on Thu, 09/03/2009 - 22:43.
Singapore - Singapore Airlines (SIA), which had been hit hard by the global recession, on Thursday said it had agreed with Airbus to delay the delivery of eight A380 superjumbos by six to 12 months.
SIA currently operates nine A380 jetliners with two more due for delivery in this financial year.
"The revised schedule will see the 12th aircraft delivered in October 2010 rather than April 2010, while the 19th aircraft will be delivered in January 2012 rather than January
Suspect in Singapore watch theft case confesses in court
Submitted by Mohit Joshi on Fri, 09/04/2009 - 18:11.
Singapore - A former employee of a Singapore luxury watch retailer who supposedly made off with watches worth several million US dollars before surrendering to police pleaded guilty Friday to some of the charges, media reports said.
Jerry Ee, 36, is suspected of having taken more than 360 expensive designer watches and other property worth 7.7 million Singapore dollars (5.3 million US dollars) from the outlet's safe on December 25.
Car beats plane in stunt to publicize Singapore Grand Prix
Submitted by Mohit Joshi on Sat, 09/05/2009 - 23:30.
Singapore - A Porsche 911 sports car squeezed ahead of a Boeing 747 in a head-to-head 1.7 km road race at Singapore Airport Saturday, in a stunt to publicize this month's Grand Prix race in the city state.
The car and the plane raced on separate runways 200 metres apart at Changi airport, with the Porsche crossing the finish line a split second ahead of the jetliner, organizers said.
The Boeing, however, had got off the faster start.
Abu Dhabi to buy Singapore chip-maker Chartered Semiconductor
Submitted by Mohit Joshi on Mon, 09/07/2009 - 22:25.
Singapore - A government-owned investment company from Abu Dhabi offered to buy loss-making Singapore chip-maker Chartered Semiconductor, the companies said on Monday, in a deal that would allow the new owner to compete with leading chipmakers from Taiwan.
Advanced Technology Investment Company LLC (Atic) of Abu Dhabi would pay 1.8 billion US dollars in cash for Chartered, the companies said in a joint statement.
Singapore court imposes million-dollar fine on liquor distributor
Submitted by Mohit Joshi on Wed, 09/09/2009 - 13:06.
Singapore - A Singapore court has fined an Italian distributor of wine and spirits 2.52 million Singapore dollars (1.76 million US dollars) for tax evasion, media reports said Wednesday.
Giorgio Ferrari, 39, pleaded guilty to not declaring duties and taxes worth 450,000 Singapore dollars.
The Italian cheated the authorities by telling them that the liquor shipments were bound for diplomatic missions, which under Singapore law are not taxable, the Straits Times newspaper reported.
Singapore finance minister warns against double-dip in economy
Submitted by Mohit Joshi on Wed, 09/09/2009 - 23:29.
Singapore - Singapore must be prepared for a possible double-dip in the world economy, the city-state's finance minister said Wednesday, as the current global rebound was based on stimulus packages rather than sustainable growth.
"The immediate improvements we are seeing, in the US and around the world, owe themselves primarily to aggressive government stimulus packages and a correction in private-sector inventories," Tharman Shanmugaratnam said during the 10th anniversary of the Singapore stock exchange.
Singapore Airlines expands operations with Air India
Submitted by Mohit Joshi on Mon, 09/14/2009 - 18:58.
Singapore, Sept. 14 : Singapore Airlines (SIA) said on Monday that it has expanded its partnership with Air India with a new bilateral frequent flyer program.
Under the agreement, frequent flyer program members of both airlines are able to earn and redeem miles on flights operated by either carrier. The agreement will take effect from Tuesday, Xinhua reported.
The SIA already has similar agreements with 27 other carriers. The SIA operates 42 times a week to six destinations in India. (ANI)
Singaporean seeks 1m wishes over net to propose to ladylove!
Submitted by Mohit Joshi on Mon, 09/14/2009 - 19:31.
Kuala Lumpur, Sept 14 : A Singaporean man aims to collect one million best wishes over the Internet before he proposes to his girlfriend.
According to the Sin Chew Daily, the man who calls himself KK, hopes to collect "worded blessings" from across the globe via his blog posting, by Jan 27, 2010.
KK has urged people visiting his blog http://willyoumarryme2010.blogspot.com, to send him their well wishes, reports The Star Online.
Bartronics subsidiary bags order from Singapore-based firm
Submitted by Sumeet Kak on Tue, 09/15/2009 - 02:50.Hyderabad-based Bartronics India Limited has informed that its wholly owned subsidiary Bartronics Asia has secured a prestigious radio-frequency identification (RFID) tracking project from Avitar, a Singapore based group with global operations.
However, the financial details of deal were not disclosed by both companies.
Singapore's labour market stabilizes in second quarter
Submitted by Sahil Nagpal on Tue, 09/15/2009 - 12:32.
Singapore - The deterioration in Singapore's job market appeared to have stabilized in the second quarter, the government said Tuesday, as the number of redundancies fell sharply and the unemployment rate held steady after five-straight quarters of increases.
The unemployment rate stood at a seasonally adjusted 3.3 per cent in June, unchanged from March.
"More people deferred job searches and pursued courses," the Ministry of Manpower said in a statement.
Portfolio of Singapore's Temasek Holdings climbs 32 per cent
Submitted by Sahil Nagpal on Thu, 09/17/2009 - 19:15.
Singapore - Singapore's state-owned investment company Temasek Holdings said Thursday the net value of its portfolio climbed 32 per cent to 172 billion Singapore dollars (122 billion US dollars) from April to July, recouping much of its losses as markets recovered in the last months.
By end of March 2009, Temasek's portfolio value reached 130 billion Singapore dollars, down from the peak of 185 billion Singapore dollars a year ago.
Singapore housewife fined for slapping Indonesian maid
Submitted by Mohit Joshi on Fri, 09/18/2009 - 14:28.
Singapore - A Singapore court on Friday fined a housewife 6,000 Singapore dollars (4,240 US dollars) for slapping and knocking the head of her Indonesian maid, a media report said.
Cheah Yow Ling, 33, scolded her maid, identified as Ms Aseni, 25, in July last year, accusing the helper of not cleaning up properly after the pest control man sprayed the area around the house with insecticide.
Hamilton confident of performing well on Singapore street circuit
Submitted by Mohit Joshi on Thu, 09/24/2009 - 17:59.
Singapore - Formula One world champion Lewis Hamilton said in an interview published Thursday that he was confident of performing well at the Singapore Grand Prix because of his penchant for street circuits and a revamped car.
"We seem to be quite competitive on the street circuit, and we have a good car on the slower speed corners," Hamilton told Singapore's Straits Times newspaper.
Singapore woman gets jail term for maid abuse
Submitted by Mohit Joshi on Thu, 09/24/2009 - 18:02.
Singapore - A Singapore court on Thursday sentenced a woman to two weeks in jail for abusing her Indonesian maid, a media report said.
Koh Siew Kiang, 42, had accused her maid, identified only by the name Kusmiati, of stealing fruit and lying to her.
She made her 23-year-old victim kneel in front of her in July last year, rapped her on the head with her knuckles and pulled her hair so hard that some came out, the online edition of the Straits Times newspaper reported.
The maid insisted that family members had allowed her to eat some fruit.
Barrichello fastest in first free training for Singapore GP
Submitted by Mohit Joshi on Fri, 09/25/2009 - 23:17.
Singapore - Rubens Barrichello was fastest in the first free practice Friday for Sunday's Singapore Formula One Grand Prix in a session that was red-flagged after a crash involving Renault driver Romain Grosjean.
The Brawn GP driver, who has won two of the last three F1 races this season to keep his championship hopes alive, registered a time of 1 minute 50.179 seconds for the
5.073-kilometre circuit.
Hamilton all smiles after storming to Singapore pole
Submitted by Sahil Nagpal on Sun, 09/27/2009 - 01:59.
Singapore - Formula One world champion Lewis Hamilton was all smiles Saturday after storming to the pole position for the Singapore Grand Prix.
"It's great to be up here," said the McLaren Mercedes driver, who beat Red Bull's Sebastian Vettel and Williams driver Nico Rosberg in the qualifying session.
"We had a very, very tough year, we are still pushing as hard as we can," said Hamilton, currently ranked seventh in the drivers' standing with 27 points.
"When you finally get another pool position it's a great feeling," he said. "It's the perfect position for the rest weekend."
Ferrari expects tougher times after disappointing qualifying
Submitted by Sahil Nagpal on Sun, 09/27/2009 - 02:15.
Singapore - Ferrari team principal Stefano Domenicali on Saturday expected tougher times to come for the Scuderia after a disappointing qualifying for Sunday's Singapore Formula 1 Grand Prix.
"Our package just wasn't quick enough in this qualifying session," said Domenicali, whose drivers Kimi Raikkonen and Giancarlo Fisichella will start from place 13 and 18, respectively.
"Furthermore, if so many of our competitors continue to develop their cars, while we stopped doing so with ours several weeks ago, then the more time goes by, the more we will find ourselves in an even more difficult situation," he said.
Frustrated Brawn team hopes for eventful Singapore night race
Submitted by Sahil Nagpal on Sun, 09/27/2009 - 03:20.
Singapore - Formula One championship leader Jenson Button on Saturday said he was frustrated with his team's performance in qualifying for Sunday's Singapore Grand Prix, but he still hoped to get some chances in the night race on the narrow street circuit.
"There is still a lot we can do tomorrow, but it's frustrating," said Button who was eliminated in the second round of qualifying and will start in 12th place, two places behind teammate Rubens Barrichello.
Singapore woman fined for slapping and kicking maid
Submitted by Mohit Joshi on Mon, 09/28/2009 - 14:24.
Singapore - A Singapore court on Monday fined a woman 5,000 Singapore dollars (3,518 US dollars) for abusing her maid, a media report said.
Mok Pui Keng, 47, got mad at her helper, Sri Hartati, 29, because the maid did not dry her legs after bathing and left tracks on the floor.
Mok slapped the maid on her neck and kicked her on her thigh in June last year, the online edition of Straits Times newspaper reported.
The maid left her employer's house and filed a report. (dpa)
Tourists coming back to Singapore, but hotels still suffering
Submitted by Mohit Joshi on Mon, 09/28/2009 - 21:21.
Singapore - Singapore in August posted the smallest decline in tourist arrivals so far in 2009, data released Monday by the Tourism Board showed, but the city-state's hotels continued to suffer from slumping revenues.
Visitor arrivals to Singapore reached 844,000 in August, a decline of 0.7 per cent compared with the same month a year earlier.
But hotel revenues were estimated at 125 million Singapore dollars (88 million US dollars), a drop of 24.8 per cent compared with August last year, the board said in a statement.
Punjab deaf team leaves for Singapore
Submitted by Ashok Rao on Tue, 09/29/2009 - 23:04.
The 15-member Punjab deaf cricket squad, including hearing and speech-impaired cricketers, has left for Singapore today for taking part in a 10-day special Your browser may not support display of this image. tournament to be played in Your browser may not support display of this image. Singapore and Malaysia. The tournament is organized by Deaf Cricket Federation of Your browser may not support display of this image. Punjab.
Singapore Airlines starts A380 superjumbo service to Melbourne
Submitted by Mahavir Sharma on Wed, 09/30/2009 - 16:07.Singapore - Singapore Airlines on Wednesday said it started to fly the A380 superjumbo to Melbourne, the sixth city worldwide in its network to receive the Airbus aircraft.
"The A380 continues to be extremely popular with our customers," executive vice president Huang Cheng Eng said in a statement.
"On routes with multiple daily frequencies operated with different aircraft, many of our customers will specifically choose the service that is operated by this clean and green superjumbo," he said.
Singapore's national carrier currently operates 10 A380 jetliners, which, apart from Melbourne, it flies to Sydney, London, Tokyo, Paris and Hong Kong.
Earthquake felt in more than 230 Singapore buildings
Submitted by Sukhpreet Manchanda on Thu, 10/01/2009 - 12:27.
Singapore - Tremors from the devastating earthquake that hit Indonesia's West Sumatra province on Wednesday were felt in more than 230 buildings in Singapore, the city-state's police said Thursday.
"Two hundred and thirty-four buildings experienced tremors as a result of the 7.9-Richter-scale earthquake in the waters off Southern Sumatra," Singapore police said in a statement, adding that the buildings were located mainly in the central, northern and western parts of Singapore.
Singapore watch thief gets nine years for million-dollar heist
Submitted by Sukhpreet Manchanda on Fri, 10/02/2009 - 15:36.
Singapore - A Singapore court on Friday sentenced a former supervisor of a luxury watch retailer, who made off with goods worth several million US dollars, to nine years in jail, a media report said.
Jerry Ee, 36, had pleaded guilty to taking more than 360 expensive designer watches and other property worth 7.7 million Singapore dollars (5.3 million US dollars) from the outlet's safe after the shop closed on Christmas Day last year.
Singapore's Capitaland plans to list its shopping mall business
Submitted by Satish Kumar on Mon, 10/05/2009 - 17:36.
Singapore - Singapore's Capitaland Ltd, the largest developer in South-East Asia, on Monday said it would list its shopping mall business in the city-state to tap growth potential.
Capitaland Retail owns 86 shopping malls across 48 Asian cities with a total property value of 20.3 billion Singapore dollars (14.4 billion US dollars). It would be renamed Capitamalls Asia for the listing, the company said in a statement.
Singapore dad gets 14 years in jail, caning for molesting daughters
Submitted by Sukhpreet Manchanda on Mon, 10/05/2009 - 18:25.
Singapore - A Singapore court on Monday sentenced a man to 14 years in jail and 20 strokes of the cane for molesting his two daughters, media reports said.
The 49-year-old marine supervisor, who was not named to protect the identity of his victims, started to abuse his eldest daughter in 1997 when she was 10 years old and threatened to beat her if she told her mother.
Theme for a dream holiday
Submitted by Satish Kumar on Tue, 10/06/2009 - 21:21.
Travel enthusiasts in India are venturing beyond the obvious to indulge in specialised, theme-based, holidays. To cater to this growing demand, there’re vacations based around fashion weeks, world sporting events, spa therapies and more on offer.
P Srinivas, senior vice president (special interest tours), SOTC says, “We’ve seen a marked shift in sports tourism since 2003.” He adds that travellers have the option of picking from holidays based on cricket world cups, the Olympics, Wimbledon as well as F1 Grand Prix. Even niche sports like soccer have begun to get a huge response.
Singapore man gets 12 years in jail for beating toddler to death
Submitted by Sukhpreet Manchanda on Wed, 10/07/2009 - 11:26.
Singapore - A Singapore court sentenced a man to 12 years in jail for viciously beating his girlfriend's 3-year-old son to death, a media report said Wednesday.
Firdaus Abdullah, 27, had originally been sentenced to seven years in jail in May, but will have to spend five more years in prison after an appeal by the prosecution.
Firdaus, who will also get 12 strokes of the cane, "acted like an animal", the Straits Times newspaper quoted the judge as saying.
Obama heads to Japan, China, Singapore, South Korea in November
Submitted by Sukhpreet Manchanda on Thu, 10/08/2009 - 11:38.
Washington - US President Barack Obama will embark on a nine-day tour of Asia next month, including stops in Japan, China, South Korea and Singapore, the White House said Wednesday.
Obama will leave on November 11, heading to Tokyo first for two days of meetings, including with Japanese Prime Minister Yukio Hatoyama. The talks are likely to involve the new government's call for a renegotiation of the long-standing US-Japanese alliance.
Singapore court affirms ruling against soon-to-be-closed magazine
Submitted by Sukhpreet Manchanda on Thu, 10/08/2009 - 11:44.
Singapore - Singapore's highest court has affirmed a ruling that the magazine Far Eastern Economic Review, which is slated for closure, had defamed the city-state's founder Lee Kuan Yew and his son Prime Minister Lee Hsien Loong, media reports said Thursday.
The Court of Appeals agreed with a verdict from September 2008 that a story by the magazine about Singapore's opposition party leader Chee Soon Juan in 2006 improperly associated the father and son Lee with corruption.
Swiss Bankers Association warns of overregulated tax enforcement
Submitted by Sukhpreet Manchanda on Thu, 10/08/2009 - 20:29.
Singapore - The chief executive of the Swiss Bankers Association on Thursday warned European governments and the United States against overregulating tax enforcement, thus driving wealth out of their countries.
"If tax authorities in European nations or in the US approach their citizens on the basis of mistrust, then taxpayers might be encouraged to go elsewhere," Urs Roth said in Singapore.
"And that has nothing to do with tax evasion," he added.
Singapore raises growth forecast as economy emerges from recession
Submitted by Satish Kumar on Mon, 10/12/2009 - 11:26.
Singapore - Singapore's government on Monday raised its growth forecast for 2009 as the city-state's export-dependant economy emerged from its worst recession in history in the third quarter, showing the first year-on-year expansion after three quarters of decline.
The government expected Singapore's gross domestic product (GDP) for 2009 to shrink between 2.0 and 2.5 per cent, well up from the contraction of 4 to 6 per cent predicted earlier, the Ministry of Trade and Industry said in a statement.
Military operation in South Waziristan ‘imminent’ after GHQ attack: Malik
Submitted by Sarthak Gupta on Mon, 10/12/2009 - 15:04.
Singapore, Oct. 12 : Pakistan Interior Minister Rehman Malik has said that following the brazen terrorist attack on the Army General Headquarters (GHQ) in Rawalpindi, military offensive against the militants in South Waziristan, a Taliban stronghold, was `imminent'.
"It has been decided, the civilian leadership has decided, the operation is imminent," Malik told a foreign news agency in Singapore.
Malik said initial investigations suggest that the GHQ attack was planned by the Taliban, but added that Al-Qaeda's hand could not be ruled out.
Singapore court cuts jail terms for former Mitsui Oil managers
Submitted by Sukhpreet Manchanda on Mon, 10/12/2009 - 15:17.
Singapore - A Singapore court on Monday reduced the jail terms of two former managers of the Japanese company Mitsui Oil (Asia) whose crimes cost the firm 81 million US dollars, a media report said.
Noriyuki Yamazaki, 37, had his five-year jail term cut to two years while Takahashi Masatsugu, 52, had his three-year term halved, the online edition of Straits Times newspaper reported.
Both men had appealed their sentences.
The judge gave no reason for his decision, the newspaper reported.
United Nations and Interpol agree to expand cooperation
Submitted by Sukhpreet Manchanda on Mon, 10/12/2009 - 21:03.
Singapore - The United Nations and Interpol on Monday agreed to expand their cooperation as organized crime threatens to undermine international peacekeeping missions in countries recovering from conflicts.
"On every front ... we need Interpol to help," said Andrew Hughes, police adviser at the UN department for peacekeeping missions, after an inaugural UN-Interpol ministerial meeting in Singapore.
Singapore prime minister warns of dampened growth, unemployment
Submitted by Mahavir Sharma on Tue, 10/13/2009 - 15:07.
Singapore - Prime Minister Lee Hsien Loong on Tuesday warned Singaporeans to brace themselves for dampened growth next year and a stagnant unemployment rate although the city-state has pulled out of the deepest recession in its history.
"We are now past the worst of the storm," Lee said at a union conference. "Our economy has rebounded sharply."
Pak facing 9/11-like situation every day: Malik
Submitted by Sarthak Gupta on Tue, 10/13/2009 - 17:52.
Singapore, Oct. 13 : Pakistan’s Interior Minister Rehman Malik has said his country faces a 9/11-like situation every day because of its support to the global war on terror, and added that the country has received little in return for this sacrifice.
“International cooperation with Pakistan in combating terrorism is not befitting [us],” the Daily Times quoted him, as saying at the 78th General Conference of Interpol here.
He added that Pakistan needed adequate world support to fight well-trained terrorists.
Singapore's OCBC bank in acquisition talks with ING
Submitted by Mahavir Sharma on Tue, 10/13/2009 - 18:00.
Singapore - Singapore's Oversea-Chinese Banking Corporation Ltd (OCBC) revealed Tuesday it was in talks to acquire assets of the Dutch bank ING.
"The bank wishes to inform shareholders that it is in discussions with ING in relation to a possible acquisition," OCBC said in a statement to the Singapore stock exchange.
The statement did not make clear if the talks were about acquiring ING's Asian private banking assets, which the Amsterdam-based bank is said to be seeking buyers for.
Somalia sees no progress in international fight against piracy
Submitted by Sukhpreet Manchanda on Wed, 10/14/2009 - 20:37.
Singapore - A top-ranking Somali police official said Wednesday that the fight against piracy along the coast of the African state has so far not been successful, despite increased action by international navies in the region.
"Up to now there is not any progress about piracy in Somalia," police commissioner Abdi Hassan Awaleh said on the sidelines of the general assembly of global police organization Interpol in Singapore.
Singapore's OCBC bank buys ING's Asian private banking business
Submitted by Sukhpreet Manchanda on Thu, 10/15/2009 - 16:34.
Singapore - Singapore's Oversea-Chinese Banking Corp (OCBC) on Thursday announced the purchase of Dutch bank ING's Asian private banking business, making it one of the biggest players in wealth management in the region.
The purchase of ING Asia Private Bank and its affiliated entities in Asia would cost 1.46 billion US dollars, OCBC said in a statement.
Singapore export recovery loses air
Submitted by Nitesh Prasad on Fri, 10/16/2009 - 18:46.
Singapore - A recovery in Singapore's exports stalled in September, government data released Friday showed, as the city-state's key exports slipped 7.2 per cent from a year ago, identical to August's decrease.
In September, the city-state's non-oil exports dropped a 17th-consecutive month because of lower exports of electronics and petrochemical products, said International Enterprise Singapore, the city-state's trade-promotion agency.
Singapore will not allow "fishing expeditions" to fight tax evasion
Submitted by Sukhpreet Manchanda on Tue, 10/20/2009 - 17:48.Singapore - Singapore Law Minister K Shanmugam on Tuesday said the city-state would not allow unwarranted financial investigations in the fight against cross-border tax evasion, even after it had implemented the international standard on tax information set by the Organization for Economic Cooperation and Development (OECD).
"We do not see ourselves as a haven for laundered money," the minister told a conference. "We play an active role in the global fight against financial crimes."
However, implementing the OECD standard and signing bilateral tax agreements incorporating the rules would not mean that Singapore would approve fishing expeditions in the search for tax evaders, he said.
Singapore teenage loan-shark runner gets four years in jail
Submitted by Sukhpreet Manchanda on Fri, 10/23/2009 - 12:41.
Singapore - A Singapore court sentenced a teenage girl who worked as a runner for loan-sharks to four years in jail, media reports said Friday, sending out a warning in the crackdown on the rising problem of youth involvement in moneylender syndicates.
Nur Azilah Ithnin, 16, had been on the payroll of two loan-sharks and harassed debtors by setting shoe racks and doors on fire outside several flats and also splashing paint and scribbling graffiti on walls.
Singapore man jailed for molesting Indonesian maid
Submitted by Sukhpreet Manchanda on Fri, 10/23/2009 - 16:13.
Singapore - A Singapore court on Friday sentenced a man to 11 months in jail for molesting his Indonesian maid, a media report said.
Dennis Tan Wei Teck, 36, a father of two, was found guilty of molesting the 25-year-old helper, who was not identified, in the family flat on four occasions from December 2007 to June 2008.
However, Tan was appealing the conviction and was freed on bail of 15,000 Singapore dollars (10,800 US dollars), the online edition of the Straits Times newspaper reported.
Singapore man gets 18 years in jail, 24 strokes for raping daughter
Submitted by Sukhpreet Manchanda on Fri, 10/23/2009 - 18:43.
Singapore - A Singapore court on Friday sentenced a man to 18 years in jail for raping his teenage daughter, a media report said.
The 38-year-old hawker, who was not named to protect his victim's identity, will also be given 24 strokes of the cane.
The man raped and assaulted his now 14-year-old daughter several times in her bedroom last summer, the online edition of Straits Times newspaper reported.
Goa is a 'safe destination', says its tourism minister
Submitted by Supreet Sharma on Sat, 10/24/2009 - 16:05.
Singapore, Oct 24 - Goa is a "very safe destination" for tourists, its Tourism Minister Francisco Xavier Pacheco said here in an attempt to counter negative reports in the international media about cases of rape of foreign women tourists and attacks on overseas visitors in the state.
"I am personally here to give assurances that Goa is a very safe destination for both foreign and domestic tourists," Pacheco told IANS during the ongoing ITB Asia 2009, Asia's largest tourism fair.
Sharjah, Singapore to collaborate in hospitality sector
Submitted by Hardeep Sidhu on Sun, 10/25/2009 - 00:33.
Singapore, Oct 24 : The United Arab Emirates' (UAE) Sharjah Commerce and Tourism Development Authority (SCTDA) and the Singapore Hotels Association
(SHA) have signed an agreement to collaborate in the hospitality industry, WAM news agency reported Saturday.
SCTDA director general Mohamed A. Al Noman and SHA executive director Margaret Heng have signed an agreement in this regard at the conclusion of the ITB Asia exhibition here Oct 21-23.
Outbound tourist traffic from India poised to surpass inbound traffic
Submitted by Hardeep Sidhu on Tue, 10/27/2009 - 17:45.Singapore Oct 27 : The just-concluded ITB Asia 2009 in Singapore, Asia's largest tourism fair, provided pointers suggesting that outbound tourism traffic from India would surpass the inbound traffic.
"If it is not already happening, outbound traffic from India will surpass its inbound traffic. With the growing prosperity of middle-class Indians, more and more of them are venturing into far-flung destinations such as Switzerland, UK and the USA in the West, and Japan, Singapore and other destinations in the East.
Mindful of Jakarta bombings, Singapore prepares for Obama
Submitted by Kai Portmann on Wed, 10/28/2009 - 12:17.
Singapore - As Singapore prepares to host the annual Asia-Pacific Economic Cooperation (APEC) summit next month with US President Barack Obama and other world leaders, authorities are warning of a terrorist threat.
Since suicide bombers attacked the Ritz-Carlton and JW Marriott hotels in Jakarta in July, killing nine people and injuring more than 50, Singapore fears that terrorist groups might look at similar targets during the November 14-15 APEC meeting.
APEC host Singapore reveals secret of leaders' attire for group
Submitted by Sukhpreet Manchanda on Wed, 10/28/2009 - 16:03.
Singapore - The Singapore organizers of the upcoming annual Asia-Pacific Economic Cooperation (APEC) summit presented Wednesday their choice of attire for the traditional leaders' group photo.
"We broke with APEC tradition in some ways," said Koh Lin-Net, chair of the APEC 2009 organizing committee, as the outfit of the 21 world leaders is generally kept under wraps until the photo session.
"This time, we thought we'd go for something different," she said.
Singapore's OCBC Bank posts 12-per-cent rise in net profit
Submitted by Mahavir Sharma on Wed, 10/28/2009 - 18:54.
Singapore - Singapore's Oversea-Chinese Banking Corporation (OCBC) on Wednesday said its net profit for the third quarter rose 12 per cent compared to last year, driven by strong gains as well as lower bad-debt charges.
Net profit in the three months through September reached 450 million Singapore dollars (321 million US dollars), up from 402 million Singapore dollars in the same period a year ago, OCBC said.
Els, Harrington hope to make up for previous miss in Singapore
Submitted by Narinder Hans on Wed, 10/28/2009 - 21:17.
Sentosa, Oct 28 : Jeev Milkha Singh, the defending champion, is not here but the pair Ernie Els and Padraig Harrington whom he beat in a nerve-tingling finish last year are back aiming for glory this time at the star-studded $5 million Barclays Singapore Open golf.
Three-time major champions Harrington and Els are aiming to go one better in this week after having missed make-able birdie putts on the final hole that would have forced a play-off with champion Jeev.
Confident Bhullar hoping to strike big in Singapore
Submitted by Narinder Hans on Wed, 10/28/2009 - 21:20.
Sentosa, Oct 28 : Exactly a year ago, young Indian golfer Gaganjeet Bhullar, stood watching the superstars of Asian golf and some invitees, too, at the practice green nursing hopes of making the cut to ensure the Asian Tour card for 2009.
As things happened, Bhullar, who only the previous week had come second in Indonesia, had set the bar a bit too low considering his own phenomenal talent. He missed the cut, and then made the Tour card on the very last day of the final full field event in Cambodia with a sensational 64 on the last day.
Singapore woman found guilty of abusing Indonesian maid
Submitted by Sukhpreet Manchanda on Thu, 10/29/2009 - 14:08.
Singapore - A Singapore court has convicted a woman of abusing her Indonesian maid by scalding the helper's genitals with boiling water, helping to pull out her teeth, hitting her with a metal rod and threatening to kill her, a media report said Thursday.
Maselly Ab Aziz, 38, is due to be sentenced next Wednesday, the Straits Times newspaper reported.
Her two children and lover had already been jailed for their part in abusing the 30-year-old maid Badingah, who like many Indonesians uses only one name.
Singapore's economic surge expected to moderate
Submitted by Mahavir Sharma on Thu, 10/29/2009 - 16:47.
Singapore - Singapore was expected to see slower, steadier economic growth after two quarters of double-digit expansion because of the troubled recoveries in developed markets, the city-state's central bank said in a report Thursday.
Singapore's export-reliant economy soared out of its worst recession in history in the second and the third quarters when gross domestic product (GDP) rose 22 per cent and 14.9 per cent, respectively, from the previous quarters.
Jyoti rallies after a slow start at Singapore Open
Submitted by Narinder Hans on Thu, 10/29/2009 - 22:04.
Sentosa (Singapore), Oct 29 : Jyoti Randhawa, who has been struggling with his rhythm this season, Thursday rallied from early mistakes to finish the day with a steady one-under 70 on a difficult first day of the $5 million Barclay's Singapore Open.
Randhawa, who won here in 2000, before the event became a big-ticket tournament was tied seventh with Phil Mickelson and six others.
Singapore shipper NOL posts quarterly loss, gives bleak outlook
Submitted by Nitesh Prasad on Thu, 10/29/2009 - 22:25.
Singapore - Singapore's Neptune Orient Lines Ltd (NOL), one of the world's leading container shippers, on Thursday posted a net loss of 139 million US dollars for the third quarter, reversing a profit of 35 million US dollars from a year earlier.
Revenue for the third quarter was 1.56 billion US dollars, down 34 per cent from a year ago, NOL said.
"As anticipated, the third quarter saw a continuation of adverse business operating conditions," chief executive Ronald Widdows said.
Singapore's unemployment rate rises to 3.4 per cent, fewer layoffs
Submitted by Sukhpreet Manchanda on Fri, 10/30/2009 - 16:09.
Singapore - Singapore's unemployment rate rose slightly in the third quarter 2009, government data released Friday showed, although companies fired fewer workers as the city-state emerged from its worst recession in history.
According to preliminary estimates, the unemployment rate rose slightly to a seasonally adjusted 3.4 per cent end of September, after staying steady at 3.3 per cent since March, the Ministry of Manpower said in a statement.
Singapore's United Overseas Bank posts 5.3-per-cent profit rise
Submitted by Mahavir Sharma on Fri, 10/30/2009 - 17:47.
Singapore - Singapore's United Overseas Bank (UOB) said Friday that its net profit for the third quarter rose 5.3 per cent compared with the same quarter a year ago as a jump in bad debt charges was made up by strong gains in its investments.
Net profit for the three months through September reached 500 million Singapore dollars (358 million US dollars), up from 475 million Singapore dollars a year earlier, UOB said in a statement.
Singapore Open is a viewer's delight
Submitted by Narinder Hans on Fri, 10/30/2009 - 21:18.
Sentosa (Singapore), Oct 30 : Unlike many other major golf events, the Barclay's Singapore Open golf is a spectator's delight. There are excellent viewing positions at virtually every hole and the whole, though somewhat up-and-down at places, is ?walkable'. Throw in ideally located water and refreshment kiosks, and it makes it very comfortable indeed for the spectators.
Singapore to cut emissions if other countries do their bit
Submitted by Sukhpreet Manchanda on Sat, 10/31/2009 - 11:50.
Singapore - Singapore is prepared to cut carbon emissions going into the United Nations climate change summit in Copenhagen in December, but only if other countries do their bit as well, Prime Minister Lee Hsien Loong said in a speech late Friday.
"Our carbon emissions are a negligible part of global emissions," said Lee.
He said Singapore had no obligation to cut emissions as it was not listed under annex I of the UN Kyoto Protocol.
Bhullar in sight of top-10 as weather hits play again
Submitted by Narinder Hans on Sat, 10/31/2009 - 22:15.
Sentosa (Singapore), Oct 31 : The start-top-start saga continued at the Barclay's Singapore Open golf as rain and lightning once again came in the way of Saturday's programme.
With weather playing spoilsport for the third day in succession, none of the 70 players who made the cut had finished their rounds when play was called off at 5.35 p. m. in the $5 million event sanctioned by the Asian Tour and European Tours.
Vietnam garment workers on strike over pay cut
Submitted by Sukhpreet Manchanda on Mon, 11/02/2009 - 14:31.Hanoi - Eight hundred workers at a joint-venture garment factory in the northern port city of Haiphong have launched a wildcat strike, Vietnamese officials said Monday.
Workers at the Singaporean-owned Sin Joo Boo garment company went on strike Sunday after a new managing director reduced the per-garment payment scale, said Nguyen Duc Van, chairman of the government-affiliated trade union in Haiphong's Duong Kinh district.
Van said the old scale of per-garment payments, which workers receive in addition to their fixed salaries, had been in place for many years. The new managing director lowered the payments in October after arriving from Singapore to take up his job, but did not inform workers until the salaries were paid at the end of the month.
Singapore prime minister rules out another dip for economy
Submitted by Sukhpreet Manchanda on Tue, 11/03/2009 - 15:41.
Singapore - Singapore Prime Minister Lee Hsien Loong on Tuesday said the city-state's economy had bottomed out and was not expected to take another dip after it emerged from its worst recession in history.
"We are out of the trough," said Lee. "We do not expect another dip in the economy."
In the third quarter, Singapore's economy showed its first year-on-year expansion after three quarters of decline, climbing 0.8 per cent compared to a year earlier.
Asia hopes Obama brings message of broad engagement
Submitted by Sukhpreet Manchanda on Tue, 11/03/2009 - 16:36.
Singapore - Singapore Prime Minister Lee Hsien Loong said Tuesday that he hoped US President Barack Obama would send a strong message of broad US engagement in Asia while attending the Asia-Pacific Economic Cooperation (APEC) leader's summit next week.
"We hope that we will be able to strengthen the relationship with the United States and they will play a major role in the Asia-Pacific," Lee said.
Singapore woman gets three years in jail for torturing maid
Submitted by Sukhpreet Manchanda on Wed, 11/04/2009 - 19:17.
Singapore - A Singapore court on Wednesday sentenced a woman to three years in jail for torturing her Indonesian maid, a media report said.
Maselly Abdul Aziz, 39, scalded the genitals of her helper with boiling water, helped to pull out two of her teeth, hit her with a metal rod and threatened to kill her.
Last year, Maselly's two children and her lesbian lover were jailed for their part in torturing 30-year-old Badingah, who like many Indonesians only uses one name, the online edition of the Straits Times newspaper reported.
Singapore's DBS Bank posts 40-per-cent rise in quarterly profit
Submitted by Sukhpreet Manchanda on Fri, 11/06/2009 - 13:41.
Singapore - Singapore's DBS Bank, the biggest lender in South-East Asia, said Friday its net profit for the third quarter of 2009 rose 40 per cent year-on-year as revenues increased and bad debt charges declined.
For the three months through September, net profit excluding one-time gains and charges reached 563 million Singapore dollars (404 million US dollars), up from 402 million Singapore dollars a year earlier, DBS said in a statement.
Singapore couple jailed for hurting and terrifying Philippine maid
Submitted by Sukhpreet Manchanda on Fri, 11/06/2009 - 15:03.
Singapore - A Singapore court has sentenced a couple to several weeks in jail for hurting and terrifying their newly hired Filipino maid, a news report said Friday.
Gideon Yip Yick Weng, 32, was jailed for six weeks and his partner Angela Tay Yan Hwee, 39, for three weeks after they mistreated their maid May Shiela Ornales Juanico, 34, in June last year.
Both had pleaded guilty but appealed against their sentences and were out on bail of 10,000 Singapore dollars (7,200 US dollars) each, the Straits Times newspaper reported.
Singapore raises concerns about spat between Thailand and Cambodia
Submitted by Sukhpreet Manchanda on Fri, 11/06/2009 - 18:50.
Singapore - Singapore on Friday raised concerns about the escalating diplomatic spat between Thailand and Cambodia, urging both nations to resolve their differences quickly to avoid damage to the Association of South-East Asian Nations (ASEAN).
"Singapore is concerned about the deteriorating relationship between Thailand and Cambodia," said a spokesman for Singapore's Ministry of Foreign Affairs in a statement, adding that "it is not good for ASEAN."
Tata Power to raise $250 million via FCCBs
Submitted by Rajvir Khanna on Sat, 11/07/2009 - 16:28.
TATA Power, India's largest private power utility, has revealed its plans to raise $250 million by issuing foreign currency convertible bonds (FCCBs).
The company will roll out the $250 million FCCB issue, which would also have a green-shoe option of raising a further $50 million. The bonds would be listed on the Singapore Stock Exchange.
The FCCBs, having a coupon rate of 1 to 1.75%, which would be convertible into the company's shares at a 10 per cent premium over Rs 1324 at Thursday's close on NSE.
Nomura is acting as the sole underwriter as well as book runner to the issue.
Singapore serial molester must serve 32-year jail term
Submitted by Sukhpreet Manchanda on Mon, 11/09/2009 - 19:14.
Singapore - A Singapore serial molester who sexually assaulted girls as young as 9 has to serve 32 years in jail after a court dismissed his appeal against his sentence, a media report said Monday.
From April 2007 to July last year, Huang Shiyou, 23, a full-time national serviceman, trailed girls up to the age of 14 into lifts, threatened them with a knife and then forced them to secluded spots where he assaulted them.
Singapore's central bank warns of escalation in property market
Submitted by Mahavir Sharma on Mon, 11/09/2009 - 19:59.
Singapore - Singapore's central bank on Monday said that more measures might be needed to counter speculation in the city-state's property market, as there was a risk of an escalation.
"As Singapore emerges from recession and with the market expecting low interest rates to persist for some time, the risk of a renewed escalation of speculative momentum cannot be discounted," said the Monetary Authority of Singapore in its annual Financial Stability Review.
Entering adulthood, APEC has reached a crucial milestone
Submitted by Kai Portmann on Tue, 11/10/2009 - 12:30.
Singapore - The Asia-Pacific Economic Cooperation (APEC) forum, dedicated to fostering growth through trade liberalization, has just grown out of its teenage years.
Marking its 20th anniversary in 2009, the forum of 21 Pacific Rim economies - including the United States, China, Japan and Russia - has entered adulthood and is reaching a critical point as its leaders meet for their annual summit in Singapore at the weekend.
Singapore's SingTel expands mobile customer base by 26 per cent
Submitted by Mahavir Sharma on Tue, 11/10/2009 - 16:03.Singapore - Singapore Telecommunications Ltd, or SingTel, said Tuesday that its mobile customer base in the Asia-Pacific expanded to more than 273 million by the end of September, up 57 million, or 26 per cent, from a year ago.
On a quarterly basis, SingTel's customer base in its eight markets - Australia, Bangladesh, India, Indonesia, Pakistan, the Philippines, Singapore and Thailand - grew by more than 11 million from 262 million at the end of June, South-East Asia's biggest telecommunications company said.
World Bank president praises Asia's attitude in global crisis
Submitted by Sukhpreet Manchanda on Tue, 11/10/2009 - 17:03.Singapore - World Bank president
on Tuesday praised Asia's positive attitude in overcoming the global recession, saying that one critical outcome of the crisis was how Asia and the Asia-Pacific continued to work together.
"Most of the focus coming out of Europe in this crisis is now focused on regulation, compensation, bonuses," Zoellick said in Singapore on the sidelines of the annual summit of Asia-Pacific Economic Cooperation (APEC).
Singapore Airlines posts quarterly loss, sees slight recovery
Submitted by Suresh Chawla on Tue, 11/10/2009 - 20:25.
Singapore - Singapore Airlines (SIA), one of the world's biggest carriers, on Tuesday posted a net loss for the second quarter of the 2009 fiscal year, but said there were indications for a gradual recovery after it had been hit hard by the global recession.
For the second quarter ending September 30, net losses came to 159 million Singapore dollars (114 million US dollars), reversing a profit of 324 million Singapore dollars reported a year earlier, the company said in a statement.
Singapore calls on APEC to push ahead with goal of free trade
Submitted by Sukhpreet Manchanda on Wed, 11/11/2009 - 00:08.
Singapore - Singapore on Tuesday called on the 21 member economies of the Asia-Pacific Economic Forum (APEC) to push ahead with their ambitious goal of free trade in the region, as the forum could set the pace and the direction for the whole world.
"What we really want is a free trade area in Asia-Pacific, but that will be very difficult to negotiate," Singapore Foreign Minister George Yeo said at the sidelines of the APEC annual summit in the city state.
Singapore urges Asian economies to build up own sources of growth
Submitted by Nitesh Prasad on Wed, 11/11/2009 - 15:29.
Singapore - Singapore on Wednesday called on Asia's mostly export-reliant economies to build up own sources of growth as the global recession had changed the patterns of demand in the world.
World Bank president sees risks for global economy in 2010
Submitted by Nitesh Prasad on Wed, 11/11/2009 - 16:21.
Singapore - World Bank president Robert Zoellick on Wednesday said he was comfortable about the prospects for the world economy in 2009, but advised governments not to remove their stimulus packages in 2010.
"I feel relatively comfortable about the growth prospects in 2009," Zoellick said on the sidelines of the summit of the Asia-Pacific Economic Cooperation (APEC) in Singapore.
"I see some risks for 2010," he added, noting that one downturn risk was the handover from the public to the private sector after governments introduced financial and fiscal stimulus packages to overcome the global recession.
Asia-Pacific ministers warn economic crisis not over
Submitted by Nitesh Prasad on Wed, 11/11/2009 - 18:39.
Singapore - Ministers of the Asia-Pacific economies on Wednesday warned that the global economic crisis was not yet over, saying the situation was still fragile despite the current upturn.
"The consensus is that this [crisis] is by no means over," said Singapore Foreign Minister George Yeo after hosting a meeting with foreign and trade ministers at the summit of the Asia-Pacific Economic Cooperation (APEC) forum.
"The upturn that we now have is a respite," Yeo said.
Singapore's SingTel posts 10-per-cent rise in quarterly net profit
Submitted by Nitesh Prasad on Wed, 11/11/2009 - 22:29.
Singapore - Singapore Telecommunications Ltd (SingTel) on Wednesday said net profit for the second quarter of its fiscal year rose 10.1 per cent from a year ago, led by robust performance in its markets in Singapore and Australia.
Net profit for the second quarter ending September 30 reached 956 million Singapore dollars (688 million US dollars), up from 868 Singapore dollars a year earlier, SingTel said in a statement.
China's yuan can be alternative reserve currency in 15 years
Submitted by Dalbir Sahota on Thu, 11/12/2009 - 11:41.
Singapore, Nov 12 - World Bank President Robert Zoellick has said in 15 years the Chinese yuan can become an alternative to US dollar as a global reserve currency, with China's fast economic growth and efforts to internationalise the currency.
Australia warns of withdrawing stimulus too early, sees challenges
Submitted by Sukhpreet Manchanda on Thu, 11/12/2009 - 12:50.
Singapore - Australian Treasurer Wayne Swan on Thursday urged economies worldwide to maintain their stimulus packages, saying there were still no clear signs of a sustained pick-up in private demand and challenges like rising unemployment lying ahead.
"We have to maintain stimulus because there is not yet firm evidence of a sustained improvement in global private demand," Swan said before joining a ministerial meeting at the annual summit of the Asia-Pacific Economic Cooperation (APEC) forum in Singapore.
APEC warns of fragile recovery, sees unemployment as challenge
Submitted by Sukhpreet Manchanda on Thu, 11/12/2009 - 18:30.
Singapore - Ministers of the Asia-Pacific Economic Cooperation (APEC) forum on Thursday said the recovery of the global economy was still shaky and expected to be uneven while warning of still-high unemployment rates in some nations.
"The global economic situation has eased considerably," the APEC trade and foreign ministers said in a joint statement after a meeting at the annual APEC summit in Singapore.
APEC warns of fragile recovery, sees unemployment as challenge
Submitted by Hardeep Sidhu on Thu, 11/12/2009 - 18:52.
Singapore, Nov 12 : Ministers of the Asia-Pacific Economic Cooperation (APEC) forum Thursday said the recovery of the global economy was still shaky and expected to be uneven while warning of still-high unemployment rates in some nations.
"The global economic situation has eased considerably," the APEC trade and foreign ministers said in a joint statement after a meeting at the annual APEC summit in Singapore.
APEC finance ministers reject early withdrawal of stimulus measures
Submitted by Nitesh Prasad on Thu, 11/12/2009 - 20:25.
Singapore - Finance ministers of the Asia-Pacific Economic Cooperation (APEC) Thursday rejected an early withdrawal of stimulus measures implemented to overcome the global recession, saying that exit strategies depended on the degree of recovery in different economies.
China to give two pandas to Singapore, sign other pacts
Submitted by Supreet Sharma on Fri, 11/13/2009 - 11:55.
Singapore, Nov 13 - Beijing and Singapore have signed four cooperation pacts, including procurement of two pandas from China, to mark the 20th anniversary of the establishment of diplomatic ties between the two countries next year, a media report said.
Chinese President Hu Jintao and Singapore Prime Minister Lee Hsien Loong witnessed the signing of the agreements here Thursday.
Singapore to push Trans-Pacific Strategic Economic Partnership
Submitted by Sukhpreet Manchanda on Fri, 11/13/2009 - 13:24.
Singapore - Singapore Prime Minister Lee Hsien Loong on Friday urged Asia-Pacific nations to press ahead with their vision of free trade in the region, saying that the Trans-Pacific Strategic Economic Partnership Agreement (TPP), including Brunei, Chile, New Zealand and Singapore, was a promising tool to reach that goal.
"We have to work together not to protect our markets, but to take steps towards the vision of a free-trade area of Asia-Pacific," Lee said at the annual summit of the Asia-Pacific Economic Cooperation (APEC) forum.
Change in Obama's programme spoils traditional APEC group photo
Submitted by Sukhpreet Manchanda on Fri, 11/13/2009 - 14:38.
Singapore - A change in the travel programme of US President Barack Obama would spoil the traditional costume group photo of 21 Asia-Pacific leaders at their annual summit in Singapore, the organizers said Friday.
Obama was set to appear for a photo session on Saturday with other leaders of the Asia-Pacific Economic Cooperation (APEC) - including China's President Hu Jintao - in a costume inspired by a blend of different Asian cultures.
IMF chief predicts stronger Asian currencies
Submitted by Nitesh Prasad on Fri, 11/13/2009 - 19:40.
Singapore - The head of the International Monetary Fund (IMF) on Friday predicted a revaluation of major Asian currencies against the dollar as a "rebalancing" of the world's economy gets underway.
IMF chief predicts stronger Asian currencies
Submitted by Nitesh Prasad on Fri, 11/13/2009 - 19:42.
Singapore - The head of the International Monetary Fund (IMF) on Friday predicted a revaluation of major Asian currencies against the dollar as a "rebalancing" of the world's economy gets underway.
China to boost domestic demand to tackle global crisis
Submitted by Nitesh Prasad on Fri, 11/13/2009 - 19:50.
Singapore - China will further improve its citzens' standard of living to spur public consumption and boost domestic demand in order to tackle the global economic crisis, President Hu Jintao said Friday.
"Our focus in countering the crisis is to expand domestic demand, especially consumer demand," Hu told business leaders at the annual summit of the Asia-Pacific Economic Cooperation
(APEC).
Taiwan hopes for early negotiations with China on trade agreement
Submitted by Sukhpreet Manchanda on Fri, 11/13/2009 - 20:35.
Singapore - Taiwan hopes for early negotiations with China on a partial free-trade agreement - the Economic Cooperation Framework Agreement (ECFA) - to institutionalize cross-strait trade and escape the growing pressure from other regional organizations.
"We hope we could complete the whole process in next year," said Taiwan's envoy Lien Chan on the sidelines of the annual summit of the Asia-Pacific Economic Cooperation (APEC) in Singapore.
Asia-Pacific summit seeks more US engagement
Submitted by Sukhpreet Manchanda on Sat, 11/14/2009 - 14:42.
Singapore - The 16th Asia Pacific Economic Cooperation (APEC) summit kicked off Saturday with calls for greater US engagement in the region.
US President Barack Obama, although he failed to attend the opening session of the APEC summit, made known his commitment to the region Saturday morning in Tokyo.
"As an Asia Pacific nation, the United States expects to be involved in the discussions that shape the future of this region, and to participate fully in appropriate organizations as they are established and evolve," he said.
APEC scraps emission cut target in draft declaration
Submitted by Hardeep Sidhu on Sun, 11/15/2009 - 11:35.
Singapore, Nov 15 - Leaders attending the Asia-Pacific Economic Cooperation (APEC) summit here have scrapped a provision in their draft declaration pledging to halve greenhouse gas emissions by 2050, an official said.
Yi Xianliang, counselor at the Treaty and Law Department of the Chinese foreign ministry, told a press conference here Saturday that the emission cut proposal was taken off from the draft declaration for fear that the binding provision might disrupt the climate change negotiations, Xinhua reported.
APEC leaders mull new vision for growth
Submitted by Sukhpreet Manchanda on Sun, 11/15/2009 - 12:04.
Singapore - Leaders of the 21-nation Asia Pacific Economic Cooperation (APEC) grouping met Sunday to discuss a new approach to regional growth, winding up a two-day summit in Singapore.
Belatedly joined by US President Barack Obama, who arrived for the summit late Saturday night, the leaders met in a "retreat" forum that was expected to focus on new ideas.
"We expect our leaders to declare that the new paradigm for growth must entail elements of balanced growth, inclusive growth and sustainable growth," said Kuzuo Kodama, press secretary for the Japanese government.
Obama's early arrival rescues traditional APEC group photo
Submitted by Sukhpreet Manchanda on Sun, 11/15/2009 - 12:33.
Singapore - A surprise early appearance of US President Barack Obama at the annual summit of 21 Asian-Pacific economies in Singapore on Saturday rescued the traditional costumed group photo of the leaders.
Coming from Japan, Obama was originally expected to arrive for the Singapore summit of the Asia-Pacific Economic Cooperation (APEC)late Saturday, prompting the organizers to postpone the planned group photo session to Sunday with all leaders appearing in business suits.
APEC leaders do not expect breakthrough in Copenhagen climate talks
Submitted by Sukhpreet Manchanda on Sun, 11/15/2009 - 13:30.
Singapore - Leaders of the 21 Asia-Pacific economies do not expect a breakthrough in climate talks before the Copenhagen meeting in three weeks, a senior US government official said Sunday.
Deputy US National Security Advisor Mike Froman spoke after the leaders of the Asia-Pacific Economic Cooperation (APEC) met with Danish Premier Lars Lokke Rasmussen.
APEC leaders vow to work for strong climate results
Submitted by Sarthak Gupta on Sun, 11/15/2009 - 17:54.
Singapore - Asian-Pacific leaders on Sunday vowed to work for a strong outcome of the Copenhagen climate talks in three weeks, but failed to give targets for reducing greenhouse gas emissions.
"We reaffirm our commitment to tackle the threat of climate change and work towards an ambitious outcome in Copenhagen," the 21 leaders of the Asia-Pacific Economic Cooperation (APEC) said in a joint statement after their two-day annual summit in Singapore.
But they did not mention any target for slashing emissions, thus backing off from an earlier draft of the declaration.
APEC leaders vow to work for strong climate results
Submitted by Sarthak Gupta on Sun, 11/15/2009 - 17:55.
Singapore - Asian-Pacific leaders on Sunday vowed to work for a strong outcome of the Copenhagen climate talks in three weeks, but failed to give targets for reducing greenhouse gas emissions.
"We reaffirm our commitment to tackle the threat of climate change and work towards an ambitious outcome in Copenhagen," the 21 leaders of the Asia-Pacific Economic Cooperation (APEC) said in a joint statement after their two-day annual summit in Singapore.
But they did not mention any target for slashing emissions, thus backing off from an earlier draft of the declaration.
Obama tells Myanmar to free Aung San Suu Kyi at ASEAN summit
Submitted by Sarthak Gupta on Sun, 11/15/2009 - 21:02.
Singapore - US President Barack Obama used a meeting Sunday with the Association of South-East Asian Nations (ASEAN) to urge pariah state Myanmar to free pro-democracy leader Aung San Suu Kyi.
In what was the first meeting in 43 years between a US president and leaders of the military junta in Myanmar, Obama reportedly told Prime Minister General Thein Sein to release Suu Kyi.
The US has been reluctant to hold a separate summit with ASEAN since 1997, when Myanmar - also called Burma - joined the grouping despite stiff objections from the US and the European Union.
Obama demands release of Aung San Suu Kyi
Submitted by Pankaj Mathur on Mon, 11/16/2009 - 18:29.
Singapore, Nov. 16 : US President Barack Obama has demanded the release of Burmese opposition leader Aung San Suu Kyi.
In an unprecedented encounter with Burmese Prime Minister Lt. Gen Thein Sein here on Sunday, Obama also pushed for the release of other political prisoners held by the Burmese regime.
According to The Times, the message was delivered across the table to Sein during a meeting with the leaders of the ten countries that make up the Association of South East Asian Nations
(ASEAN).
Singapore shares rise 2.08 per cent
Submitted by Sukhpreet Manchanda on Mon, 11/16/2009 - 19:27.
Singapore - Singapore shares rose 2.08 per cent on Monday as stock markets around Asia posted gains.
The key Straits Times Index climbed 56.62 points to 2,783.85, with winners beating losers by 453 to 113. (dpa)
A culinary adventure on the streets of Singapore
Submitted by Sukhpreet Manchanda on Tue, 11/17/2009 - 12:14.
Singapor - Singapore is famous for its skyscrapers and luxury hotels but the south-east Asian city is also a culinary capital with thousands of street food vendors in market halls providing tasty titbits for just a few dollars. Typical dishes on offer include fish curries and traditional chicken satays, fried rice and chilli crabs freshly prepared with top quality ingredients.
Singapore's key exports lag behind recovery
Submitted by Sukhpreet Manchanda on Tue, 11/17/2009 - 15:51.
Singapore - Singapore's external trade lagged in October, government data released Tuesday said, as key exports fell 6.1 per cent from a year ago, a slight improvement from the 7.3-per-cent decrease posted for the previous month.
Singapore's non-oil exports slipped a 18th straight month because of lower exports of electronics and non-electronic products, the International Enterprise Singapore said.
Non-oil exports fell 13 per cent in October month-on-month, a sharp contrast to the 2.9-per-cent increase in September, said the agency.
Singapore premier, state founder get compensation from magazine
Submitted by Sukhpreet Manchanda on Wed, 11/18/2009 - 14:09.
Singapore - The soon-to-be-closed magazine Far Eastern Economic Review has agreed to pay Singapore's founder Lee Kuan Yew and his son Prime Minister Lee Hsien Loong several hundred thousand dollars in damages for defamation, a media report said Wednesday.
In October, the city-state's Court of Appeal confirmed a verdict from September 2008 that a story by the magazine about Singapore's opposition party leader Chee Soon Juan in 2006 improperly associated both Lees with corruption.
Singapore man gets 14 years in jail for Ponzi-style scam
Submitted by Sukhpreet Manchanda on Wed, 11/18/2009 - 18:44.
Singapore - A Singapore court on Wednesday sentenced a fraudster who cheated 13.4 million Singapore dollars (10.3 million US dollars) out of investors in a Ponzi-style scam to 14 years in jail, a media report said.
Lee Hock Chye, also known as Jon, 30, pretended to offer a wide range of investment schemes through his company LePrime, which was registered in 2006.
Lee told clients that he traded their money at stock exchanges in New York, Hong Kong and Tokyo, the online edition of Straits Times newspaper reported.
Singapore expects economy to grow up to 5 per cent next year
Submitted by Sukhpreet Manchanda on Thu, 11/19/2009 - 12:34.
Singapore - Singapore on Thursday said its export-reliant economy might grow between 3 and 5 per cent next year after the city-state emerged from its worst recession in history, adding to evidence that Asia is leading the rebound of the global economy.
"A sluggish recovery in final demand in the advanced economies will moderate Singapore's growth prospects in 2010," the Ministry of Trade said in a statement.
Mukesh Ambani tops Forbes’ India rich list
Submitted by Ashok Rawat on Thu, 11/19/2009 - 13:55.
Singapore, Nov 19 : The head of Reliance Industries, Mukesh Ambani, is once again the wealthiest person in India. His net worth is put at 32 billion dollars, an increase of 54 percent from nearly 21 billion dollars last year, according to the latest Forbes’ India Rich List.
Trailing behind him are Lakshmi Mittal with a net worth of 30 billion dollars, up 46 percent from 20.5 billion dollars, and Mukesh’s estranged brother, Anil, whose net worth of 17.5 billion dollars, 40 percent, higher than before, put him in the third place.
Asia's airlines see signs of recovery, expect heavy losses
Submitted by Nitesh Prasad on Fri, 11/20/2009 - 18:53.
Singapore - Asia's airlines saw some signs of recovery after passenger demand slumped during the global recession, the head of a regional industry body said Friday, but the business environment continued to be challenging.
"Hopefully, we are at least through the worst of the downturn," Andrew Herdman, director general of the Association of Asia Pacific Airlines (AAPA) told an industry forum in Singapore.
"There are some encouraging signs that air traffic is starting to recover," he said.
Singapore celebrity monk sentenced to 10 months in jail for fraud
Submitted by Sukhpreet Manchanda on Sat, 11/21/2009 - 15:45.
Singapore - A Singapore court on Saturday sentenced a celebrity Buddhist monk who ran one of the city-state's most popular charities to 10 months in jail for fraud, a media report said.
Shi Ming Yi, 47, and his former personal assistant Raymond Yeung, 34, were convicted in October of conspiring to take an unauthorised loan of 50,000 Singapore dollars (36,000 US dollars) from the Ren Ci charity in May 2004.
Yeung was sentenced to 9 months in jail, the online edition of Straits Times newspaper reported Saturday.
Hit By Recession, Entrepreneurship Seems to be Falling
Submitted by Gaurav Mehra on Sun, 11/22/2009 - 22:35.Despite having faced repeated economic hurts, America has always managed to get through without collapsing to again become the world's strongest economy, but the latest recession, which has lasted for over 2 years, seems to have hurt the nation much more than ever before. The recent economic downturn has called into question the country's economic prospects, particularly the fate of entrepreneurs.
Law Minister Lists Three Lessons which the Population can Learn from the Way Economic Crisis was managed
Submitted by Shalini Kakkad on Mon, 11/23/2009 - 00:37.
In a recent address, Law Minister K Shanmugam listed three lessons which Singapore's residents must learn from the way the recent economic downturn was handled and taken care of by the country's Government, employers and unions. Managing finances judiciously, need to build upon mutual trust and proactive responses to rapidly changing circumstances are the lesson which the Minister feels that everyone should now learn.
Asian Tour makes it presence felt in Australia
Submitted by Supreet Sharma on Fri, 11/27/2009 - 17:46.
Sentosa (Singapore), Nov 27 - The Asian Tour golf widened its footprint with a new arrangement with Fox Sports that will take the live coverage of the Tour's events to Australia with immediate effect.
Fox Sports, Australia's leading sports broadcaster, will air all Asian Tour live tournaments, highlights and magazine shows.
It becomes all the more interesting with the Asian Tour having provided the launch pad for Australia's up-and-coming stars to fine tune their game and gain top-level exposure on the international stage.
Defence ministry nod for artillery trials
Submitted by Hardeep Sidhu on Wed, 12/23/2009 - 21:59.
New Delhi, Dec 23 : The defence ministry has given the go-ahead for trials of 155mm towed guns in which blacklisted armaments firm Singapore Technologies Kinetics is the sole contender in the fray, an official said Wednesday. However, a deal will be signed only after the probe in the corruption case against the company is over.
The development is important in the context of the Indian Army's crucial artillery modernisation programme.
Singapore manufacturing output slips 8.2% in November
Submitted by Shalini Kakkad on Sat, 12/26/2009 - 21:52.
A sharp decline in the pharmaceutical output dragged Singapore's industrial production down in November.
The Economic Development Board said that country’s overall output contracted 8.2 per cent in November from the year ago period, while the month-on-month decline was 3.6 per cent. It was the steepest drop in the past eight months.
Analysts had been expecting an average increase of 3.3 per cent in output from the manufacturing sector.
Singapore puts paedophile behind bars for 10 years
Submitted by Hardeep Sidhu on Tue, 12/29/2009 - 14:47.Singapore, Dec 29 - A paedophile was put under a 10-year preventive detention for molesting six young girls, including a one-year-old toddler, the Straits Times reported Tuesday.
But Salim Abdul Rahman escaped the mandatory caning for his crimes because he had turned 50 years old Dec 20, and under the law that punishment can only be meted out to those under 50.
Salim pleaded guilty Dec 8, after a psychiatrist diagnosed him with paedophilia. He had confessed to having the urge to touch young girls twice a week.
Tomorrow becomes yesterday in the Pacific
Submitted by Hardeep Sidhu on Wed, 12/30/2009 - 17:47.
Singapore, Dec 30 - Is it Dec 31 or Jan 1, still yesterday or already today? Things get complicated at the International Date Line in the Pacific Ocean.
When people on the South Sea island of Samoa pop the champagne corks to celebrate the New Year, the year is already 24 hours old on Tonga, a few islands further west.
The two islands are separated by 900 km. They have the same time, but different dates. This means that when it's Friday on Tonga it is still yesterday, Thursday, on Samoa.
Singapore Government Extends Financial Support by a Year
Submitted by Piyush Diwan on Wed, 12/30/2009 - 20:45.
On Monday, Singapore extended its financial support for companies by a whole year, which was initiated by the country to make sure that its economy does not completely collapse during the global financial crisis.
About 8.4 billion Singapore dollars ($6.0 billion) have been introduced in various financial schemes. Singapore is the worst hit economy in Asia and started rising from crises in the third quarter when the economy rose by 14.2%.
Former Indonesian President no more, Singapore leaders expresses shock
Submitted by Rajvir Khanna on Fri, 01/01/2010 - 04:52.
Leaders from Singapore have expressed shock over the demise of former Indonesian President Abdurrahman Wahid, terming him a visionary and very efficient politician of the country.
Top Singapore leadership including President S R Nathan, Prime Minister Lee Hsien Loong, Senior Minister Goh Chok Tong and some other ministers had conveyed condolence to the bereaved family.
Lee hopeful of GDP growth between 3 and 5% next year
Submitted by Sumeet Kak on Fri, 01/01/2010 - 05:01.
Singapore Prime Minister Lee Hsien Loong projected GDP growth rate between 3 to 5 per cent in the coming year. Delivering his message on the eve of New Year, he said that the GDP of city-state grew 3.5 per cent during fourth quarter though it is still in negative territory at minus 2.1 per cent on year basis.
Lee expressed, "Our economy is growing again, and has recovered much of the ground since the recession began last year."
Somali pirates hijack India bound chemical tanker
Submitted by Hardeep Sidhu on Sat, 01/02/2010 - 12:47.
London/Singapore, Jan 2 - Somali pirates captured a Singaporean chemical tanker with 24 crew members in the Gulf of Aden on the first day of 2010.
The 150-metre long, 20,000-tonne M. T Parmoni was on its way from Italy to India when it was boarded Friday and forced to turn towards the Somali coast, according to the European Union's Atalanta mission, based in Northwood, Britain.
The crew includes 17 Indonesians, five Chinese, one Nigerian and one Vietnamese.
Singapore's Economy Expected to Grow by 3-5% Next Year
Submitted by Malini Ranade on Sat, 01/02/2010 - 15:02.
During 2009's fourth quarter, Singapore's gross domestic production managed to hike by 3.5%, but the growth for the complete year has still remained in the negative category at minus 2.1%.
Singapore Prime Minister Lee Hsien Loong, in his New Year message has said that the next year could see an economic growth of 3-5%, and observers are of the opinion that this could result in a move away from the manufacturing sector as the main driver of the country's economy.
Singapore's economy shrinks in fourth quarter
Submitted by Dalbir Sahota on Mon, 01/04/2010 - 17:16.
Singapore, Jan 4 - Economic activity in Singapore slowed in the fourth quarter, with gross domestic product contracting by 6.8 percent, the government said Monday.
The drop in the fourth quarter resulted in a 2.1-percent contraction for the year. The negative economic growth for 2009 fell within the Trade and Industry Ministry's forecast of a of 2 percent and 2.5 percent drop for the year.
Singapore economy shrinks in fourth quarter
Submitted by Malini Ranade on Tue, 01/05/2010 - 05:21.
Singapore's Gross domestic Product (GDP), reeling under severe slowdown due to lower demand, shrank 6.8 per cent during the fourth quarter led by decline in the ailing manufacturing segment. However, the decline is less than what was earlier projected for the entire year.
Singapore's Trade Ministry informed that manufacturing segment, having significant contributing in the overall GDP of the city-state, contacted 34.4 per cent on seasonally adjusted basis during the reporting quarter compared to the 29.6 percent growth in the third quarter.
Bangladeshi sentenced to death for killing girlfriend
Submitted by Sukhpreet Manchanda on Sat, 01/09/2010 - 16:18.
Singapore, Jan 9 - A Singapore court sentenced a Bangladeshi man to death for the murder of his Indonesian girlfriend, The Straits Times reported Saturday.
The court handed down the decision to hang Kamrul Hasan Abdul Quddus, 35, Friday.
Kamrul was convicted following a 20-day trial held in February and March last year.
The body of 25-year-old Yulia Afriyanti, who worked in Singapore as a maid, was found in December 2007 in a cardboard box at a construction site where Kamrul worked at the time.
Singapore man gets 24-year jail for raping daughter
Submitted by Hardeep Sidhu on Tue, 01/12/2010 - 00:40.
Singapore, Jan 11 : A Singapore court Monday sentenced a man to 24 years in prison for raping his daughter over several years, a media report said.
The 57-year-old security guard, who was not named to protect the victim's identity, began abusing the girl in 2002 when she was 8 years old.
The attacks stopped in 2008 after the girl's mother found out about it, the online edition of Straits Times newspaper reported.
The couple also has four sons.
According to Singapore law, the man will not be caned because he is above the age of 50.(DPA)
Qualitas Look Forward to Enter Primary Health Sector in Singapore
Submitted by Piyush Diwan on Thu, 01/14/2010 - 16:52.The Malaysian leading primary healthcare services provider, Catalist-listed Qualitas Medical Group has acquired 75 per cent stake in Dr Marcus Cooney & Associates Pte Ltd, which operates a Singapore dental clinic bearing the trade name 'SmileFocus'.
The Qualitas Group currently operates 166 clinics throughout the country.
The recent acquisition is cited to support its regional expansion, adding new branches in whole of Malaysia, emerging itself as a regional player in the primary health sector. However, the deal is speculated to be finalized in another three to six months.
Sexually Transmitted Infections Witness a 10.6% Rise
Submitted by Piyush Diwan on Thu, 01/14/2010 - 16:53.Sexually transmitted infections apart, from HIV, witnessed a significant 10.6% rise in the recent three years in Singapore. The citizens accounted for about 62% of the number of infections.
The data suggests the number has raised from about 11,000 in 2006 to 12,300 in 2008, with gonorrhoea, non-gonococcal urethritis (NGU) and syphilis being the three main STIs.
Based on statistics from STI Control Clinic, one-third of the attendances were new cases, with two-thirds as follow-up cases. However, bad news is that there was no reduction in the cases seen at private clinics.
Also, the age wise data reported that 70% of the cases were young adults, in their 20s or 30s and for cases below 20, two-thirds were female. For those older than 20, two-thirds were male.
Singapore Rises Against Errant Doctors
Submitted by Piyush Diwan on Thu, 01/14/2010 - 16:54.Singapore has come up with a faster and fairer redress against negligent or unprofessional doctors, after the amendments to the Medical Registration Bill were passed in Parliament yesterday.
The changes introduced will enable medical watchdog Singapore Medical Council to exercise its power to maintain discipline against errant doctors.
The country witnessed a rise of 96 last year from 66 in 2003. Mr Khaw also cited an example of a complex case that took over five years to settle.
Singapore's need for doctors is urged by the growing population. The major need for the regulation was posed because of increasing foreign-trained doctors working in Singapore.
Singapore needs more babies for development -Prime minister asks couples
Submitted by Rajvir Khanna on Sat, 02/13/2010 - 17:02.
Singapore’s birth rate slipped to its lowest level ever in 2009 resulting the Prime Minister Lee Hsien Loong to ask couples to have more children. Lee said in a message marking Sunday's start of
the lunar Year of the Tiger," Despite all our efforts, we are producing far too few babies."
He added," Last year, we were short of at least 10,000 babies just to replace ourselves."
Lee Asks Couples To Have More Kids
Submitted by Rajvir Khanna on Sat, 02/13/2010 - 17:45.
Singapore Prime Minister Lee Hsien Loong urged couples to have more kids as the city-state's birth rate declined to its lowest level during the last year.
In a note marking Sunday's start of the lunar Year of the Tiger, Lee said, "Despite all our efforts, we are producing far too few babies."
"Last year, we were short of at least 10,000 babies just to replace ourselves," he added.
Lee particularly advocated ethnic Chinese to ignore their false notions against kids born in a Year of the Tiger.
Singapore opens its first casino
Submitted by Neeta Aurora on Mon, 02/15/2010 - 03:20.Singapore has opened its first ever casino on the auspicious eve of the Chinese lunar year in a bid to diversify its economy. Lim Kok Thay, Chairman of Resorts World Sentosa and its developer, Malaysia's Genting Group said, "We are confident to meet our goal of 13 million visitors (per year)."
The move would turn the city-state into a playground for the rich Asian gamblers that would in turn push its economic growth. Initially selected guests would be allowed in the casino which is a part of S$6.59 billion resort located on Sentosa Island in the southern coast of Singapore.
Wal-Mart Q4 net jumps 22% to $4.63 billion
Submitted by Amanda Lysak on Sat, 02/20/2010 - 19:14.
Retail chain giant Wal-Mart Stores reported a 22 per cent increase in net profit at $4.63 billion for the fourth quarter, despite the decline in the US sales but it is supported by strong growth in its international sales and cost cutting measures taken during the quarter.
Company reported net earnings rise to $4.63billion against the $3.8 million for the same period of previous financial year and sales of the company recorded an increase of 4.6 percent over the year.
Tourism in Singapore Shows Signs of Improvement
Submitted by Shalini Kakkad on Sat, 03/06/2010 - 03:13.
With the coming of 2010, Singapore's tourism seems to have been given a boost once again. During the year, the country is expecting to host 11.5 million to 12.5 million visitors and bag about S$17.5 Billion to S$18.5 Billion in tourism receipts. The figures have been shared by the Singapore Tourism Board and have been a result of the significant rise in tourist numbers recorded during the initial months of the year.
Flights to Mackay route confirmed
Submitted by Keshav Seth on Sat, 03/06/2010 - 08:32.
Singapore-based Tiger Airways, has dived in the best fare deals arena, with the $28 fare from Rockhampton to Brisbane, giving a green signal to the direct flights to Melbourne.
Australia's commercial director, Steve Burns discussed that the Tiger Airways is yet to decide the final schedule for its coming season, stretching arms from March 28 to October 2010. In the discussion, paving last week the Melbourne to Mackay route finalized, however the flight heading from Rockhampton to Melbourne are on hold. The news penetrated, once Jetstar finalized the decision to halt its daily flight from Rockhampton to Brisbane, effective from 10th May.
‘Protein’ Present In Snake Venom Could Advance Drug Development
Submitted by Piyush Diwan on Tue, 03/09/2010 - 16:14.
According to scientists, protein present in snake's venom has the potentiality for new drug invention and to boost understanding of disease methods.
The protein known as haditoxin was detected in Prof. Manjunatha Kini's research lab at the National University of Singapore.
Report's co-author Dr. S. Niru Nirthanan has characterized the pharmacological actions of haditoxin.
Dr. Nirthanan also said that haditoxin was unique with respect to structure unique and therefore expected to have unique pharmacological properties.
Bharti enters African market through SPV route
Submitted by Keshav Seth on Sat, 03/27/2010 - 03:14.
Bharti has made two special vehicles (SPVs) in the Netherlands and Singapore to implement the $ 10.7 billion deal. Bharti Airtel is in the concluding stage of acquiring stake in Zain Telecom's operations in Africa.
It is expected that deal would be signed in next 48 hrs in Netherlands by Zain and Bharti's senior officials. Zain has agreed to compensate Bharti in case of legal costs incurred by Bharti on ownerships disputes issues. Zain will also sign an indemnity clause i. e. a guarantee clause, which will be valid for few years.
Masks and N95 respirators are found to be effective prevention from H1N1
Submitted by Piyush Diwan on Tue, 03/30/2010 - 16:28.
Researchers in Singapore have said that surgical masks may be as effective as N95 respirators in preventing hospital staff from catching H1N1.
The incidence of H1N1 among the hospital's healthcare workers was analyzed by study author Dr. Brenda Sze Peng Ang of the Tan Tock Seng Hospital in Singapore and colleagues.
GMR to see $200 million investment from Temasek
Submitted by Keshav Seth on Tue, 04/13/2010 - 07:45.
Indian infrastructure company, GMR Infrastructure is going to receive as much as $200 million as investment from Singapore's Temasek Holdings.
The agreement was reached on Friday and the Singaporean state investor is going to put this money into the power business of GMR. With this, it will expand its generation capacity as well.
Temasek has taken this decision looking at the huge potential and relatively very less competition in the Indian power sector.
Noble says no to Macarthur
Submitted by Rajvir Khanna on Sun, 05/02/2010 - 06:38.
Noble Group, a Singapore listed commodities firm, said that it is not interested in talks with Macarthur Coal Ltd. over Macarthur's offer to acquire Gloucester. Noble was addressing the Singapore stock exchange today. Noble is the major shareholder in the Australian coal firm Gloucester. Noble shareholders have already rejected the takeover bid from Macarthur last week.
Trade between India and Singapore to reach $35 billion
Submitted by Neha Malik on Wed, 05/12/2010 - 09:00.
On Tuesday, the Minister for Commerce, Anand Sharma said that within next five years, the total trade between India and Singapore will become $35 billion.
During the joint press conference organized by India and Singapore, he said, "India and Singapore have agreed to work towards doubling bilateral trade from $16 billion to $32 billion by 2015."
He was supported by his Singaporean counterpart Lim Hng Kiang.
Marico set to takeover Singapore's Derma Rx
Submitted by Keshav Seth on Wed, 05/26/2010 - 08:11.
Marico, has said that it is looking forward to buy out Singapore-based company, Derma Rx Asia Pacific (Derma Rx).
The FMCG giant is going to this through its wholly-owned subsidiary, Kaya Limited. Derma is into the business of aesthetics and the takeover is another step in the organic development plan of Marico.
Singapore bourse bids to merge with Australian exchange
Submitted by Dalbir Sahota on Mon, 10/25/2010 - 12:07.
Singapore, Oct 25 : The Singapore Stock Exchange (SGX) said Monday it has entered a merger agreement with Australian bourse operator Australian Stock Exchange Ltd (ASX), in a move that would create one of the largest stock exchanges in the world.
The proposed deal would have a volume of about $8.3 billion in cash and stock bid, SGX said in a statement.
"The combination of ASX and SGX will create the world's fifth-largest listed exchange group with a broad international shareholder base," it said.
1/10th of Singapore suffering from obesity
Submitted by Piyush Diwan on Mon, 11/08/2010 - 23:55.
While the number of obese percentage in Singapore was at a satisfactory level of 6.9% back in the survey done in 2004 but the latest National Health Survey has revealed that close to 10.8% of the population in the country is obese.
Constipation occurs more in kids with no green diet
Submitted by Piyush Diwan on Thu, 12/16/2010 - 02:24.
Children who don't have greens in their diet have 13 times more chances to get constipation, according to a new study.
The research further discovered that drinking less than two glasses of water per day raises the risk to a great extent.
Constipation is a very painful condition when the movement of bowel become infrequent or hard to pass and can result in more serious bowel obstructions, as reported by the Journal of Clinical Nursing.
Worlds first for cure for PE
Submitted by Piyush Diwan on Fri, 12/17/2010 - 04:02.
World's first oral medication to treat premature ejaculation has been granted an approval for usage in Singapore.
Premature ejaculation, or PE, is tainted to be one of the most severe issues which is visible in case of males sexual health globally, states Janssen-Cilag.
It is considered to be a medical condition which has been designed in a manner to fight against the short ejaculatory latency time and lack of control. In Singapore, 20 per cent of men are witnessing PE, while another probable 14 per cent are likely the true sufferers of the condition.
Singapore: To Host Asia’s First Ever Men’s Fashion Week
Submitted by Kiran Pahwa on Tue, 01/18/2011 - 16:09.
Singapore, known for its great fashion in women’s high street and couture genres is now reportedly all ready to host the first ever Men’s fashion extravaganza week this side of the globe. The event is being organized by Fide Multimedia Pte Ltd and One International Holdings Pte Ltd.
The event is to be something as big as any fashion week with most designers scheduled to be flown down to Singapore. The tickets are also open for public purchase and according to reports some 30% of the total has been land marked for it.
Singapore firm working on Indoor GPS
Submitted by Kiran Pahwa on Mon, 10/10/2011 - 18:40.
Singapore, Oct 10 - A Singapore start-up firm has devised an innovative application to allow phone users have access to their positioning information within buildings, where the traditional global positioning system has often proved inaccurate.
The firm YFind Positioning System feels that the application can help turn Singapore into the world's first location-intelligent city, daily Business Times reported on Monday.
Singapore expected to have 3-5 percent economic growth
Submitted by Dalbir Sahota on Tue, 10/11/2011 - 16:23.
Singapore, Oct 11 - Singapore President Tony Tan Keng Yam has said it is going to be tougher for Singapore to have high growth rate as the city state moves closer to the income level of the developed countries, but it can still achieve growth of 3-5 percent in the coming years.
Tan said such growth rate will be enough to achieve a better life for all Singaporeans, according to daily Business Report Tuesday, reported Xinhua.
Changi might pick up 26% stake in GVK Airports
Submitted by Keshav Seth on Mon, 12/26/2011 - 22:28.
According to some reports, Singapore's Changi Airports Group might be planning to acquire a 26 per cent stake in GVK Airports unit in a deal worth around 2,200 crore.
GVK Power & Infrastructure Ltd has said in a filing with the Bombay Stock Exchange (BSE) that it normally looks for business partners for growth in various industries within and outside India, but the group or any of its subsidiaries has not entered into an agreement with any company for a stake sale.
Banks in Singapore to focus on NRI investment potential
Submitted by Harish Dhawan on Thu, 12/29/2011 - 21:30.
Banks in Singapore are improving operations in order to be ready to exploit the investment potential of the non-resident Indians (NRI) living in the city state.
The more than 300,000 NRI’s in Singapore have a investment wealth of USD 25 billion with a preference to invest in Indian securities and the Indian currency. According to a latest report in a media outlet, the number of NRIs with an appetite for investment in India is increasing drastically in the country.
Reliance Com’s unit planning to get listed in Singapore
Submitted by Gaurav Mehra on Wed, 01/18/2012 - 22:48.
The cable unit of the Reliance Communications Ltd is aiming to raise about $1.5 billion through an initial public offering (IPO) in Singapore, according to reports.
Anil Ambani's Reliance plans to sell 75 percent of FLAG Telecom through the IPO and get a valuation of up to $2 billion within the first half of the year, according to a report citing persons close to the matter. FLAG Telecom will be listed as a business trust in the stock market in Singapore.
Researchers achieve breakthrough in electromagnetic waves study
Submitted by Mark Menell on Tue, 01/24/2012 - 12:21.Researchers have achieved a new breakthrough in exploiting electromagnetic waves and will prove useful in further research for more advanced medical diagnosis.
The new research will allow researchers to build smaller more portable, easier to operate as well as cheaper terahertz waves (T-rays) systems for medical diagnostics. T-rays are used in airports scanners, medical scanning devices as well as in spectroscopy systems for materials analysis.
The rays will be able to sense molecules as every molecule has its unique signature in the THz range, according to a report in the journal Nature Photonics.
Raytheon delivers first radar for Indian P-8I to Boeing
Submitted by Dalbir Sahota on Sat, 02/18/2012 - 16:08.
Singapore, Feb 18 - Raytheon has delivered the first APY-10 radar to Boeing for integration on board the Indian Navy's first P-8I maritime reconnaissance aircraft that should be delivered in January 2013.
Raytheon's vice president for Intelligence, Surveillance and Reconnaissance Systems at the company's Space and Airborne Systems Business, Tim Carey, said: "Our APY-10 Radar will provide the Indian Navy with proven, low-risk technology built on generations of successful Raytheon maritime radar systems."
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