SingTel boosts stake in Bharti Airtel to 31.95 pct

Reuters, 31 Oct 2009
Singapore Telecommunications (STEL.SI) has agreed to increase its effective stake in India's mobile phone operator Bharti Airtel (BRTI.BO) to 31.95 percent from 30.43 percent, the company said.
SingTel will make an estimated payment of between 18,073 million Indian rupees to 30,084 million Indian rupees ($641.3 million) for the purchase of additional shares of Bharti Telecom, the statement said.
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Related:
SingTel to raise stake in Bharti by 1.52% to 31.95% - dnandia.com
Singapore Telecommunications Ups Stake In Bharti Airtel - The Wall Street Journal

OPINION: Recession hits Singapore unevenly - Seah Chiang Nee

The Star Online, 31 Oct 2009
YOUNG Singaporeans, who were raised in an era of affluence, have been indulging in a spending binge that appears out of line with economic realities.
The splurge, which followed signs of a mild recovery in recent weeks, resulted in a strong price run-up in stocks, properties and cars, taking many economists by surprise.
For the majority of workers, jobs have been lost and take-home pay diminished.
Almost all Singaporeans, rich and poor, have lost out in the recession, the worst being the poorer class.
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Singapore to cut emissions if other countries do their bit

TopNews, 31 Oct 2009
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.
He said Singapore had no obligation to cut emissions as it was not listed under annex I of the UN Kyoto Protocol.
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Related:
Singapore to cut emissions if other countries do their bit - Monsters and Critics

Singapore pips London as No 2 financial hub

The Malaysian Insider, 31 Oct 2009
Singapore has emerged as the second leading global financial centre after New York.
While New York has withstood the worst economic crisis in seven decades, London slipped behind Singapore as investors’ preferred place for doing business, according to a global survey.
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OPINION: Tiger v Cityflyer comes into sharper focus - Ben Sandilands

Crikey Blogs, 30 Oct 2009
Tiger’s second announcement of new Sydney flights in two days underlines the pressure the Singapore Airlines controlled low fare airline is applying to the high fare Qantas Cityflyer operation.
Today Tiger’s touch up is the doubling of services between the Gold Coast and Sydney from early February following yesterday’s announcement of entering the route in December.
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Canadian support for Dr. Chee and colleagues facing charges

Amnesty International Canada, 28 Oct 2009
Government critics and human rights defenders, led by opposition leader Dr Chee Soon Juan, are facing criminal charges for participating in peaceful anti-poverty rallies. But important support for Dr Chee grows, as Canada's National Post calls the Singapore government "a bully" and former Canadian High Commissioner to Singapore Michael Berry follows up with a letter commenting on the "relentless harassment of Dr Chee...aided by an accommodating judiciary". And Canadian lawyer Robert Amsterdam is setting up an international group of lawyers to focus on Dr Chee.
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Her World readership tumbles as Singaporean women move online

Media.Asia, 30 Oct 2009
Despite maintaining its lead as Singapore’s top women’s magazine, readership figures for SPH Magazines’ Her World have fallen.
According to a media agency source, the dips and changes in readership are indicative of growing fragmentation and a shift toward online sites and content.
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Lessons to be gleaned from Singapore's property boom

Financial Times, 30 Oct 2009
If you talk to financiers in Singapore these days, the topic of property prices keeps cropping up but, unlike in America, it is not the threat of further real estate market falls.
Instead, as Wall Street worries about American house prices - exemplified by a downbeat report from Goldman Sachs this week - in Asia there is mounting concern about property booms-cum-bubbles.
Thus far this year in Hong Kong, for example, residential property prices are estimated to have surged by about 25 per cent. In Singapore the increase is calculated at more than 15 per cent. However, on a visit to that city this week, I was repeatedly told by locals that these figures may be understating the trend: in prime residential and business centres, there is reportedly such a bidding frenzy for good assets, that prices are far higher than official data imply.
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Las Vegas Sands posts wider 3Q loss as taxes rise

The Associated Press
Casino operator Las Vegas Sands Corp. on Thursday reported a larger third-quarter loss as gambling markets continued to struggle, taxes increased and the company pressed ahead on developing a resort in Singapore.
The Las Vegas-based company led by billionaire Sheldon Adelson benefited from more gamblers visiting Macau, the Chinese gambling enclave, but was hurt in its home market of Las Vegas where bettors have stayed away from tables and rooms have been less profitable.
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Related:
Las Vegas Sands loss widens, but shares rocket - Reuters
Las Vegas Sands Widens Loss - TheStreet.com
Las Vegas Sands loss widens - MarketWatch

Singapore Employers Cut Fewer Jobs Last Quarter Amid Recovery

Bloomberg.com, 30 Oct 2009
Singapore employers fired fewer workers last quarter as demand for goods and services improved after the economy emerged from its worst recession in more than four decades.
Employers cut 2,200 jobs in the three months through September, compared with 5,980 in the second quarter, the Ministry of Manpower said today. The seasonally adjusted unemployment rate rose to 3.4 percent from 3.3 percent.
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Related:
Singapore 3Q unemployment rises to 3.4 percent - Forbes.com
Singapore Job Creation Resumes as Fewer Workers Fired - Bloomberg.com

Shanmugam: Singapore Tax Rules Are Like West’s

Bloomberg.com, 30 Oct 2009
Singapore’s rules on sharing tax information with other countries put it on par with western financial centers like London and New York, Finance Minister Tharman Shanmugaratnam told Corriere della Sera in an interview.
Singapore’s confidentiality laws are not meant to shield tax evaders and the city-state is committed to international efforts to combat cross-border tax evasion, the minister told Corriere.
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Liaison officers to extend Singapore's warmth to APEC leaders

Xinhua, 30 Oct 2009
Over 150 officers from various Singapore government agencies will be appointed as liaison officers to provide the Asia Pacific Economic Cooperation (APEC) leaders with a sense of warmth for a memorable Singapore experience.
According to the Singapore APEC 2009 Organizing Committee on Thursday, the liaison officers will provide personalized assistance to the APEC leaders, ministers and their spouses.
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Singaporeans oppose market reform

ABC Radio Australia, 30 Oct 2009
The ubiquitous high-rise housing estates in Singapore are undergoing a transformation that not everyone likes.Wet markets that were once commonplace in suburban neighbourhoods, are now making way for air-conditioned supermarkets.
While in the past, Singaporeans might have welcomed this as a sign of progress, it's now seen as a threat to social culture. Singaporeans are also up in arms over big business takeovers.
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Obama meets senior Singaporean statesman Lee Kuan Yew

Xinhua, 30 Oct 2009
U.S. President Barack Obama on Thursday met with Minister Mentor Lee Kuan Yew of Singapore at the White House some two weeks ahead of his visit to the southeast Asian country.
Speaking to reporters after his talks with Lee Kuan Yew, Obama spoke highly of the former Singaporean prime minister and allied relationship between the two countries.
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Related:
Obama welcomes 'legendary' Lee Kuan Yew - AFP

Singapore Central Bank Expects Slower Growth in 2010

Bloomberg.com, 29 Oct 2009
Singapore will grow at a “slower and steadier” pace in the coming quarters as the construction industry contributes less to the city-state’s expansion and external demand remains “challenging,” the central bank said.
The island’s economy is in a “recovery phase” after emerging from its deepest recession since independence in 1965 and has yet to fully bounce back to pre-crisis levels, the Monetary Authority of Singapore, or MAS, said in a twice-yearly review today. Growth will shift to a more “sustainable trajectory” in 2010, it said.
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Related:
Singapore financial services expected to grow slowly but surely - The Malaysian Insider

MAS: Services to drive Singapore economy

MSN Philippines News, 29 Oct 2009
Trade-reliant Singapore will increasingly look to its services sector in the future as it tries to soften the impact of any further global economic crises, the central bank said Thursday.
Trade-reliant Singapore will increasingly look to its services sector in the future as it tries to soften the impact of any further global economic crises, the central bank said Thursday.
The announcement comes as the city-state, which currently relies heavily on manufacturing to drive growth, struggle out of its deepest recession in its history as global trade was battered by the global downturn.
"From a sectoral perspective, the engines of growth will shift going into next year," the Monetary Authority of Singapore (MAS) said in its twice-yearly Macroeconomic Review.
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Singapore shipper NOL posts Q3 loss, sees H1 2010 loss

Reuters, 29 Oct 2009
Neptune Orient Lines (NEPS.SI), the world's fifth largest container shipping firm, on Thursday reported a bigger-than-expected third quarter loss and warned that losses will continue at least until the first half of 2010.
The company posted a third-quarter net loss of $139 million, compared with a net profit of $35.8 million a year ago. The quarterly loss was also bigger than the consensus estimate of a $109.5 million loss.
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Related:
Singapore shipper NOL posts quarterly loss, gives bleak outlook - Earthtimes.org
NOL forecasts another year of significant losses - Lloyd's List

Art Wars: Hong Kong vs. Singapore

The Wall Street Journal, 29 Oct 2009
These are the trophies of a war between Singapore and Hong Kong: whimsical oils by Indonesian boy-wonder artist I Nyoman Masriadi; an abstract painting by Zao Wou-ki; and an ancient Chinese imperial throne worth US$11 million. All of these artworks turned up for sale in Hong Kong in recent months -- and set auction records.
Longtime rivals in trade and finance, Hong Kong and Singapore are vying to become Asia's regional arts hub, part of a strategy to be crowned Asia's top city.
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MOE Officials Visit US Newport Mill Middle Sch To Learn About Character Education Program

Gazette.net, 28 Oct 2009
Matthew Ou, the assistant director of Character Education for the Ministry of Education in Singapore, said his country is trying "to achieve a balance between nurturing critical and independent thinking skills and strength of character, on the one hand, and making sure that students are equipped with a strong foundation in basic knowledge on the other."
Singapore has been moving away from "excessive focus on test or examination grades" and toward more rounded character education since 2005, Ou said. He said that it was interesting to learn on his visit to Newport Mill that the United States has become more focused on testing since No Child Left Behind took effect.
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IMF lifts Singapore GDP forecasts for 2009, 2010

Forbes.com, 29 Oct 2009
The International Monetary Fund on Thursday upgraded its economic growth forecasts for Singapore for this year and 2010 from previous projections announced at the start of this month.
The IMF forecast in its regional economic outlook report, released in Seoul, that Singapore's gross domestic product would expand by 4.3 percent in 2010 after contracting by 1.7 percent this year.
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20 S'pore Civil Servants Goes On Tour To Brunei City

BruDirect.com, 29 Oct 2009
A Group of 20 key representatives from the Singapore government led by Rear Admiral (NS) Sim Gim Guan of the Ministry of Information, Communication and Arts visited the Kampong Ayer Cultural and Tourism Gallery yesterday.
The visit was part of the Eight Second Echelon Brunei-Singapore Senior Civil Servants Exchange Programme, which began on October 27 and carries the theme: Integrated Government: Enhancing Capabilities in Facing Challenges.
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Study Finds Singapore To Be The Most Tax-friendly Jurisdiction For Entrepreneurs Among Six Major Countries

Voxy.co.nz, 29 Oct 2009
A comparison of the taxes burden faced by start-ups in six economies reveals significant variation with Singapore coming out as the most tax-friendly jurisdiction.
GuideMeSingapore.com released a report today that compares the tax policies of six countries: UK, USA, India, Australia, Russia, and Singapore. Using the tax rates for the year 2009, the report performs a comparative analysis of the tax impact on a new firm incorporated in each of these countries.
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Singapore to certify commercial divers

Upstreamonline.com, 28 Oct 2009
A recreational diving licence will no longer be adequate for commercial divers working in Singapore, following a string of mishaps in the South East Asian country.
The Manpower Ministry's Workplace Safety and Health Council (WSHC) wants such workers to be trained and certified from the middle of next year.
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AirAsia And AirAsia X Jointly Win Prestigious CAPA's Airline Of The Year For 2009

Bernama.com, 28 Oct 2009
BEIJING, Oct 28 (Bernama)-- Exeptional achievement, brilliant innovations and constant positive growth despite the global economic crisis has won the AirAsia group double Ace.
AirAsia and AirAsiaX jointly won the prestigious Centre for Asia Pacific Aviation (CAPA) Airline of the Year Award for 2009 here Wednesday night.
"It is a big hounour, we are very proud indeed, we beat Singapore Airline, China Airline, Cathay Pacific...it shows that Malaysia can be the best," said Tony Fernandes when asked to comment on the company's achievement.
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Related:
AirAsia and AirAsia X Jointly Win CAPA Airline of the Year Award and Tony Fernandes Conferred CAPA Legend Award - Adoimagazine.com

SingTel unit buys into Ayala IT firm

ABS-CBN News Online, 28 Oct 2009
MANILA - Information technology (IT) company NCS Pte. Ltd., a unit of Singapore Telecommunications Ltd. (SingTel), has taken a majority stake in information-technology (IT) firm Ayala Systems Technology Inc., which the multinational plans to use as its platform to penetrate the overseas market.
The stake was bought from Ayala Corp.’s IT-focused subsidiary Azalea Technology Investments Inc. as well as from the Bank of the Philippine Islands (BPI) Computer Systems Corp. and Mitsubishi Corp.
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Temasek In Mongolia Mining Venture

The Wall Street Journal ,28 Oct 2009
China Investment Corp. has reached a deal to invest up to $700 million in Mongolia-focused Iron Mining International Ltd., the latest move by the sovereign wealth fund to plow cash into commodities.
Two high-profile backers for the Mongolian mining venture are staying in the deal. Singapore's Temasek Holdings Pte. Ltd. and private-equity firm Hopu Investment Management Co., have invested a combined $300 million in the firm. Hopu is a $2.5 billion fund raised by Chinese dealmaker Fang Fenglei and former Goldman banker Richard Ong.
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Temasek, GIC invest in China's Longfor IPO

Reuters India, 28 Oct 2009
HONG KONG, Oct 28 (Reuters) - Beijing-based property company Longfor Properties Co Ltd, which aims to raise up to $1 billion from its Hong Kong public offering, has seized five cornerstone investors for a combined $300 million worth of shares, a source close to the deal said on Wednesday.
The cornerstone investors include the Government of Singapore Investment Corp, Temasek, Hong Kong Land and China's Ping An Insurance, the source said.
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Related:
Temasek, GIC invest in China's Longfor IPO-source - Forbes.com

MM Lee: US must engage Asia to maintain global power

AFP
WASHINGTON — Singapore's founding father Lee Kuan Yew has warned the United States it risks losing global leadership if it did not remain engaged in Asia to "balance" China's military and economic might.
The influential Lee called on President Barack Obama, whom he meets for talks in Washington on Thursday, to ensure that the United States "stay engaged not just in China but in the whole of East Asia and India."
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Paperless government not yet a S'pore reality

ZDNet Asia, 28 Oct 2009
SINGAPORE--The public sector has made strides toward nurturing a paper-free culture, but its interaction with a myriad of stakeholders means it will take years before a true paperless government becomes a reality, observes an analyst.
Alex Kim, research director at IDC's Government Insights, told ZDNet Asia in an e-mail interview government agencies across Singapore have generally reduced requests for hardcopy documents to be submitted in order to process transactions.
However, Kim noted that IDC does not expect public sector environments to be totally free of hard copies due to interactions with "a myriad of stakeholders; where each different stakeholder may practise different standards", or have different expectations of transacting with the government."
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Singapore's million-dollar CEOs see shrinking pay packages

Xinhua, 28 Oct 2009
SINGAPORE, Oct.28 (Xinhua) -- Large listed companies in Singapore paid their chief executive officers (CEOs) less, as the million-dollar earners were down sharply last year, local newspaper reported on Wednesday.
Only 15 percent of 60 blue-chip firms surveyed by Ernst and Young paid their chief executives packages of over 5 million Singapore dollars (3.49 million U.S. dollars), down from 23 percent in 2007,
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WHO, Singapore jointly introduce water safety knowledge to universities

Xinhua, 28 Oct 2009
SINGAPORE, Oct. 28 (Xinhua) -- Singapore and the World Health Organization (WHO) tied up to organize a workshop here to integrate water safety knowledge for universities, Singapore's national water agency PUB said on Wednesday.
To better equip engineering graduates entering the water industry with the latest skills and knowledge on drinking water safety plans, WHO, in collaboration with Singapore's Nanyang Technological University (NTU), National University of Singapore (NUS) and PUB, joined hands to organize a workshop to integrate Water Safety Plans (WSP) into universities' engineering curricula and research.
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Consumer Satisfaction Level in Singapore Drops

English.cri.cn, 28 Oct 2009
A Singapore customer satisfaction index has shown a drop, local newspaper reported on Wednesday.
In the results of a customer satisfaction index, the numbers continue to slide as five out of six sectors surveyed did worse this year than last, local newspaper the Straits Times reported.
The index, now in its third year, showed that the poorest performer was retail, followed by education and tourism in a tie, info-communications, and then food and beverage.
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China, Singapore may beat Sydney in carbon-hub race

Reuters, 28 Oct 2009
Asian cities are likely to beat Australia in the race to become a carbon-trading hub, despite Australian plans to set up the region's first cap-and-trade market, industry experts said on Wednesday.
Sydney believes it is on pole position to become a hub, but the experts said Australia's most populous city was likely to be brushed aside as Hong Kong, Beijing and Singapore also staked claims to be Asia's main center for carbon trading.
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SingTel mulls selling Optus stake through IPO

Australian IT, 28 Oct 2009
SINGAPORE Telecommunications is considering selling a minority stake in its Australian operation Optus through an initial public offering in Australia, two people familiar with the situation said today.
The people told Dow Jones Newswires that the plan was still at an early stage.
Full Story

Related:
Optus declines to confirm IPO rumours - The Sydney Morning Herald
Optus declines to confirm IPO rumours - Brisbanetimes.com.au
SingTel Mulls Floating Australian Unit Optus - The Wall Street Journal

Mindful of Jakarta bombings, Singapore prepares for Obama

Earthtimes.org, 28 Oct 2009
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.
"We know that we remain on the terrorists' radar," Senior Minister for Home Affairs Ho Peng Kee told Parliament last week.
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Singapore businessmen intend to increase business ties with Indonesia

Xinhua, 28 Oct 2009
JAKARTA, Oct. 28 (Xinhua) -- Singaporean businessmen intend to increase business ties with Indonesia in sectors of logistics, transportation, and property, Bisnis Indonesia daily quoted an official as saying on Wednesday.
However, the intention is hampered by lack of domestic infrastructure.
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Singapore lures Indian tourists with Marilyn Monroe

Hindustan Times, 27 Oct 2009
A small marketing gimmick of a model posing as famous Hollywood actor Marilyn Monroe - complete with her white dress flying - caught everyone's imagination at a press conference here and gave a sneak peek into the scores of attractions at Singapore's biggest casino resort scheduled to open next year.
From a pair of 15-storeyed tall cranes dancing to a castle right from the animated film Shrek welcoming you, from dinosaurs ogling at you at the Jurassic Park theme arena to a science fiction city - to even celebrity look-alikes like Marilyn Monroe and Betty Boop smiling at you - one would be able to see their imagination come to life in the movie theme park.
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Singapore Airlines Says Too Soon to Call Global Travel Recovery

Bloomberg.com, 28 Oct 2009
Singapore Airlines Ltd., the world’s biggest carrier by market value, said it was too soon to say whether a rebound in air travel last month marked the beginnings of a long-term revival in demand.
“There is not enough evidence yet to conclude that we are back on a firm trail to recovery,” Chief Executive Officer Chew Choon Seng said yesterday at a Star Alliance press conference in New York.
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Police Called In To Protect Tiger Airways Staff From Angry Passengers Stranded In Hobart

The Age, 26 Oct 2009
Federal police were on hand to protect Tiger Airways staff when they told a planeload of Melbourne-bound passengers they would be stranded in Hobart for three days.
Disgruntled passenger Mike Waters said the 9.15pm flight to Melbourne from Hobart was cancelled on Friday night when a flight attendant became ill.
He said passengers were initially told the flight would still be departing but after a two-hour wait were then told to go to the Tiger Airways ticketing desk where about five police officers appeared to be standing guard.
Some passengers were then informed they would not be able to fly home until today and were taken to stay in a hotel about 20 kilometres from Hobart.
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Related:
Tiger Airways tells stranded passengers: Come back in three days - Australia.to

Financially strained Tiger Airways cutting costs by moving its operation from Melbourne Airport to Avalon

Herald Sun, 28 Oct 2009
TROUBLED Tiger Airways is believed to be in advanced talks with Lindsay Fox's Linfox about moving its operations from Melbourne Airport to Avalon.
Like many of its industry peers around the world, Singapore Airlines-controlled Tiger is believed to be under extreme financial pressure because of the uncertain global economy and fluctuating oil prices.
Because it is a privately-owned company, Tiger is not required to disclose in its accounts any losses it may have incurred.
However, Tiger's managing director, Tony Davis, conceded in July that Tiger was yet to turn a profit in the tough Australian market.
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Singapore arrivals up in Sept on year, 1st this year

Forbes.com, 27 Oct 2009
SINGAPORE, Oct 27 (Reuters) - Visitor arrivals in Singapore in September rose 7.1 percent from a year earlier, the first rise this year, the Singapore Tourism Board (STB) said on Tuesday.
The pick up occurred as average hotel room rates fell 31.2 percent to S$207 ($148.3). Occupancy rose 4.1 percentage points to 78.2 percent.
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Shanmugam: Some Americans Perceive Singapore A Repressive State

Bernama.com, 27 Oct 2009
Some Americans have wrongly perceived Singapore as a repressive state after reading only unfair reports by American newspapers, according to a Singapore minister.
Law Minister and Second Minister for Home Affairs K. Shanmugam said the American readers were not getting the right picture of prosperous Singapore and its strong adherence to the rule of law if they read about Singapore in some American journals.
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Singapore on track to start carbon credit trades by year-end

businessGreen.com, 27 Oct 2009
A new commodities exchange planned for Singapore is on schedule to start trading in carbon credits by year-end, according to a senior government official.
In a speech yesterday at the Carbon Forum Asia conference, senior minister of state for trade and industry S. Iswaran said the nation's forthcoming Singapore Mercantile Exchange (SMX) is "on track for year-end" and will provide "an electronic trading platform for futures and options trading on a diversified range of commodities, including energy, metals, agricultural commodities, currencies, commodity indices and carbon credits".
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Related:
More Singapore firms to join carbon trade - commodityonline.com

S'pore Family Forced to Migrate To Canada For Better Autism Care, Ends Up In Tragedy

The Globe And Mail, 26 Oct 2009
Tony Khor couldn’t tell his mother when he needed to let off steam, but somehow she knew anyway. And so last Thursday, Seow Cheng Sim took Tony, her severely autistic only child, to run on the treadmill at LA Fitness, a slick and shiny gym next door to the Homewood Suites hotel.
Why Tony wound up dead, and his mother charged with first-degree murder, remained painfully unclear to the boy’s father and their suburban neighbours on Monday.
“I never saw the sign coming,” Boon Khor said outside a Brampton, Ont., court, where his wife appeared briefly.........In fact, neighbours said, the family moved to Canada from Singapore because they felt Tony, diagnosed when he was two, would receive better support services here.
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Local Falun Gong Practitioners Warned To Stay Away From Parks By MHA Ahead Of APEC

The Epoch Times, 26 Oct 2009
Singaporean border officials denied entry to two Falun Gong practitioners on Oct. 19 and 22 who had previously frequented the country, one from Indonesia and the other from Malaysia.
Officers from the Ministry of Home Affairs called two meetings with local practitioners, intiminating in the first, and stating explicitly in the second, that they were expected to stay away from the Merlion and Esplanade Parks starting November.
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Singapore government, Temasek pare stake in ICICI

Business Standard, 27 Oct 2009
The Singapore government and its investment arm, Temasek Holdings, have been gradually reducing stake in ICICI Bank, their one of their biggest investments in India, by selling shares in the secondary market.
Their collective stake has come down to 7.29 per cent in the quarter ended September from nearly 9.27 per cent in the quarter ended June and 9.91 per cent in the quarter ended March, according to the latest shareholding pattern that the bank has filed with the National Stock Exchange.
Temasek Holdings, through its foreign institutional investor affiliate, Allamanda Investments, which presently holds 5.76 per cent in ICICI Bank, reduced its public shareholding by 1.85 per cent between first and second quarters of the financial year. The government of Singapore reduced its stake from 2.3 per cent in the quarter ended March to 1.66 per cent in the quarter ended June and to 1.53 per cent in the quarter ended September.
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Related:
Temasek cuts stake in India's ICICI to 5.76 pct - Reuters
Singapore government, Temasek pare stake in ICICI - Sify.com

Singapore exchange may lose edge in Nifty futures

Business Standard, 27 Oct 2009
The share of SGX Nifty has risen from 2% in March to 5.9%.
The growth rate of India’s premium benchmark stock index, Nifty, on the Singapore Stock Exchange (SGX) will be appreciably less as a result of extension of trading hours in domestic markets.
The Securities and Exchange Board of India (Sebi) had last week permitted stock exchanges to begin the day as early as 9 am and keep the market open for trading till 5 pm.
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Singapore tourism counting on Las Vegas Sands Casino

Gamingtoday.com, 26 Oct 2009
While financial writers have been speculating on the size and timing of an initial public offering (IPO) by Las Vegas Sands Corp. (LVS), Singapore is counting on the company to open the $5.4 billion Marina Bay Sands gaming resort in the first half of 2010.
The attraction is being built on reclaimed land across from the recently constructed Formula One Grand Prix circuit. The gaming complex will have a 161,000 square-foot casino, two theaters offering Broadway – and Bollywood style shows – a science museum, a luxury mall with tenants including world-class retailers, a convention center and a 2,500 room and suites hotel.
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Netherlands, France, Singapore cheapest for mobile broadband

The Industry Standard, 26 Oct 2009
The Netherlands, France and Singapore have among the lowest prices for mobile broadband plans. In France, an unlimited download plan costs just over £10 (US$15) per month.
In a cross-country comparison of mobile data pricing, ABI Research found that some countries have already seen the introduction of innovative pricing plans, including pricing by time rather than data downloaded.
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Tiger Airways Takes Off Empty Leaving Passengers Behind

Bernama.com, 26 Oct 2009
MELBOURNE, Oct 26 (Bernama) -- Intending passengers were left angry after a Tiger Airways plane flew to Melbourne from Hobart without them after a flight attendant fell ill, the Australian Associated Press (AAP) reported.
The 140 passengers were left at Hobart airport last Friday night and many were stranded for three days while waiting for seats on the one-flight-a-day Tiger service to Melbourne.
The flight attendant at the centre of the incident was attended to by paramedics at the airport and later joined the empty flight back to Melbourne with other crew.
No replacement for the sick steward on Flight TT567 was available in Hobart.
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Son of former Bangladeshi premier faces charges of laundering money into Singapore

Monster and Critics, 26 Oct 2009
Bangladesh's anti-graft watchdog on Monday charged Tarique Rahman, the eldest son of former prime minister Khaleda Zia, and one of his aides with money laundering, police said.
Mohammad Ibrahim, an assistant director of the Anti-Corruption Commission, filed a lawsuit against Tarique and his business partner, Giasuddin Al Mamun, for diverting the equivalent of more than 2.9 million dollars to two foreign banks, Hosne Ara, a police officer at Cantonment Police Station said.
The officer said Tarique and Mamun are accused of sending money to Singapore without the central bank's permission, violating the country's money laundering laws.
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Related:
Ex-premier's sons charged with corruption - The Australian
Ex-Bangladesh PM son's corruption charges: police - AFP

Singapore Ranked 23rd In Global assessment of Wealth and Wellbeing - Legatum Prosperity Index

(Ref: http://www.prosperity.com/rankings.aspx)

SYS-CON India, 26 Oct 2009
LONDON, October 26 /PRNewswire/ -- The third edition of the Legatum Prosperity Index, published today, ranks 104 countries (covering 90% of the world's population), based on a definition of prosperity that combines economic growth together with measures of happiness and quality of life. Democratic Japan tops the Asian rankings in 16th place, thanks to strong scores across all measures of economic wealth and life satisfaction closely followed by free market locations such as Hong Kong (18th), Singapore (23rd) and Taiwan (24th).
"The Legatum Prosperity Index is the world's only global assessment of wealth and wellbeing," said Dr. William Inboden, Senior Vice President of the Legatum Institute. "Many Asian nations have good economic fundamentals, but the Index tells us that true prosperity requires more than just money and weak scores for their Democratic Institutions and Personal Freedom measures are letting some Asian nations down," he continued. "Furthermore, countries which have low levels of economic stability, such as Cambodia (93rd) finish even further down in the overall rankings. Overall, this strongly suggests that a country can improve its overall prosperity by promoting the fundamentals of life satisfaction as much as the standard measurements of wealth such as GDP," concluded Dr. Inboden.
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Related:
The 2009 Legatum Prosperity Index Ranking
Want prosperity? Index ranks Finland as place to be - Reuters India

CIVIL SOCIETY REFUSES TO CAVE IN AT ASEAN SUMMIT

IPSEurope.org, 26 Oct 2009
Civil society representatives from South-east Asia's developing democracies delivered an unequivocal message to the region's leaders at a summit held here - they will not succumb to the whims of governments that suppress political and civil liberties at home.
They did so by boycotting a carefully choreographed encounter between government leaders and civil society representatives at the summit of the Association of South-east Asian Nations (ASEAN). Those who refused to participate at this meeting came from Indonesia, Malaysia and Thailand, host of the 15th ASEAN summit that runs from Oct. 23-25 in this resort town south of Bangkok.
The countries that had representatives at this session on Oct. 23 ranged from military-ruled Burma, the city-state of Singapore - ruled by one party that tolerates little criticism - to Vietnam, which is under the grip of a communist government.
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Singapore to lure Indian tourists with casino

The Hindu Business Line, 26 Oct 2009
Come 2010, a grand casino will be thrown open at Singapore’s Sentosa island to attract tourists, especially from India, in large numbers.
“Singapore has been the top outbound destinations for Indians for many years and with these theme parks and casino, we hope to draw many more Indian travellers and give them a new reason to come again,’’ Resorts World Sentosa Vice-President (Communicatio n) Ms Krist Boo told presspersons here today.
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Singapore resort lures with dinosaurs and Marilyn Monroe

Calcuttanews.net, 26 Oct 2009
A small marketing gimmick of a model posing as famous Hollywood actor Marilyn Monroe - complete with her white dress flying - caught everyone's imagination at a press conference here and gave a sneak peek into the scores of attractions at Singapore's biggest casino resort scheduled to open next year.
Estimated to attract 13 million visitors, Resorts Sentosa - as the integrated resort is called - will have amongst its list of attractions Asia's only Universal Studios theme park.
From a pair of 15-storeyed tall cranes dancing to a castle right from the animated film Shrek welcoming you, from dinosaurs ogling at you at the Jurassic Park theme arena to a science fiction city - to even celebrity look-alikes like Marilyn Monroe and Betty Boop smiling at you - one would be able to see their imagination come to life in the movie theme park.
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S'pore WiMax beckons foreign operators

ZDNet Asia, 26 Oct 2009
The country's WiMax market holds little draw for local mobile broadband providers, most of which have sunk heavy investments in 3G cellular broadband instead, according to an industry analyst.
Speaking to ZDNet Asia in an interview, IDC Asia-Pacific's Patrick Chan, chief technology advisor of emerging technologies, said WiMax has not been attractive to local players because of their investments in 3G, seen as a competing mobile broadband technology.
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Singapore May Start Carbon Trading on New Exchange

Bloomberg.com, 26 Oct 2009
Singapore, Asia’s biggest oil- trading center, may allow the sale and purchase of emissions on a new exchange as part of its plan to become Asia-Pacific’s carbon hub.
Singapore plans to become a carbon-trading center by giving incentives to developers of carbon projects. The government of the city-state, which is a hub for banks and investors, is offering tax breaks and setting up a clean-energy industrial park to boost the carbon-trading business, Iswaran said.
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Publication On Singaporean, Malaysian Literature Launched

Bernama.com, 26 Oct 2009
two-volume publication on the collection of critical essays on Singaporean and Malaysian literature from the mid-20th century onwards was launched here Monday.
The publication, 'Sharing Borders: Studies in Contemporary Singaporean-Malaysian Literature (I & II)', was produced by the National Library Board (NLB), in partnership with the National Arts Council (NAC) and supported by the National Book Development Council of Singapore.
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Singapore Says Careful Global Action Needed to Support Recovery

Bloomberg.com, 26 Oct 2009
Singapore’s central bank said international policy makers need to make sure their actions are “carefully calibrated” because the sustainability of the world’s economic recovery isn’t yet clear.
The global recession wasn’t of the “garden variety,” and withdrawing government stimulus measures too early or too late could cause problems, Heng Swee Keat, managing director of the central bank, said in Singapore today.
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Singapore factory output falls 7.7 pct

AFP
Singapore said Monday that key industrial output during September fell 7.7 percent year on year as declines were posted across every sector.
The figure snapped two straight months of expansion and was worse than the average 1.1 percent fall tipped by a Dow Jones Newswires poll of analysts.
On a month-on-month seasonally adjusted basis, industrial output in September was down 9.1 percent from August, the Economic Development Board (EDB) said in its monthly report.
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Related:
Singapore manufacturing falls as recovery sputters - The Star Online
Singapore factory output falls 7.7%: Govt - Zeenews.com
Singapore Industrial Output Declines In September - ForexTV.com
Singapore production dips as drug makers cut their output - BusinessMirror
Singapore Production Drops as Pharmaceutical Makers Cut Output - Bloomberg.com

Team Bolt and Minister at odds on Singapore payback trip

TrackAlerts.com, 25 Oct 2009
KINGSTON: A dilemma has arisen out of the seeming unavailability of triple world record holder, Usain Bolt, to visit Singapore to assist in the promotion of World Youth Games in that country next year. This has triggered statements from both his management team and the Minister of Sports, Mrs. Olivia Grange.
According to the Sports Minister, the Singapore private sector has pledged funds to repair the national stadium and its east field track where all the country’s locally based elite athletes do their preparations. As a result, they have requested that Jamaica send a delegation to assist in the promotion of the Games, special mention being made for the inclusion of Bolt.
Asafa Powell, Veronica Campbell-Brown and Dexter Lee have signaled their intention to attend, the same response has not come from the Bolt handlers.
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Singapore dredging firm gives veto power to locals in Phangnga province.

Bangkok Post, 26 Oct 2009
The Singaporean company behind a controversial sand-dredging project in Phangnga province now says it will withdraw from the project if it is opposed by local residents.
KSand and Resources Cooperation had offered to help the Tambon Bang Nai Sri Administrative Office in Takua Pa district clear the sediment blocking the mouth of the Takua Pa River.
The company said it would clear the sediment free of charge in exchange for shipping the sand for use in Singapore.
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Some US schools looking at Singapore Math to boost scores

Tampa Bay Online, 25 Oct 2009
With U.S. students lagging behind their counterparts in some countries, local educators are turning to Singapore to shake up their math curricula.
Several private schools have adopted the Singapore Math curriculum – based on the principles used in the Asian nation – and the Hillsborough County school district is thinking about adding it, too.
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SIA to guarantee fares

MICEBTN, 26 Oct 2009
Singapore Airlines has moved to protect its 'Early Bird' Europe fares against any further price reductions for 2010 in a move designed to inject consumer confidence in pricing for next year and fast-track market stability in the sector.
Customers booking travel through the airline's early bird Europe program from 26 October - 05 January will get a price undertaking from the carrier that their fares are guaranteed against any future reduction in prices in 2010.
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Singapore to get first doses of A/H1N1 vaccine in two weeks

Xinhua, 26 Oct 2009
Singapore's Ministry of Health will distribute the A/H1N1 vaccine when the first doses arrive in two weeks, local media reported on Monday.
The ministry will begin distributing the vaccines to polyclinics, private hospitals and clinics once the first batches arrive.
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Singapore inks air services deal with Bulgaria and Lithuania

Flightglobal, 26 Oct 2009
Singapore has concluded separate open skies agreements with Bulgaria and Lithuania.
Under the bilateral deal with Bulgaria, the airlines from both countries can operate flights between and beyond the countries, as well as via intermediate points. There are no restrictions on capacity, frequency and aircraft type, says Singapore's transport ministry.
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Las Vegas Sands loan faces bumps, may pressure IPO

Alibaba.com, 25 Oct 2009
Las Vegas Sands Corp may struggle to secure up to $2 billion in financing for mothballed projects and dent already-lowered valuations for the planned Hong Kong initial public offering of its Macau operations, bankers and analysts said.
The world's most valuable casino operator needs the money to complete its two suspended projects in Macau, which have become major embarrassments and eyesores as the company prepares to raise up to $2.5 billion in a public offering.
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Maersk To Relocate Its S'pore Logistic Operations To Philippine in 2010?

Philstar.com, 24 Oct 2009
Danish shipping company A.P. Moller-Maersk is poised to replace about 100 of their Danish captains with Filipinos as the firm expressed its deep satisfaction with the proficiency, skill and discipline of Filipino seafarers, an embassy report said.
The company also plans to relocate its logistical operations in Singapore in 2010 making it easier for Filipino workers to find employment and relocate their training centers for their worldwide logistics requirements in Manila.
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Criticism as Asean leaders launch rights watchdog

The Manila Times, 25 Oct 2009
Southeast Asian leaders faced fierce criticism on Friday after they launched a widely derided human rights body and barred activists from a key meeting at a regional summit.
But the launch was marred by a row over the exclusion of rights activists from Myanmar, Cambodia, Laos, the Philippines and Singapore who were meant to meet Asean leaders at Hua Hin to discuss the new watchdog.
“This is an outrageous development,” said Debbie Stothard of the independent Asean People’s Forum, which nominated the activists. “It is a rejection of civil society and of the democratic process by which they were selected.”
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OPINION: Letter to my PM - No country for my old man - Sheere Ng

The Enquirer, 20 Oct 2009
Dear Mr Prime Minister,
At the Ministerial Forum a month ago, you talked about helping new citizens adjust to life in Singapore. Have you also considered the early immigrants who are having trouble adapting to this fast-moving country?
Allow me to elaborate with the story of my father:
My father’s migration to Singapore didn’t start off with a good omen. It was September, crazy weather and choppy waters at the South China Sea. He slept among boxes and crates in a cargo ship for 10 days—how long it took to get to Singapore from China’s Fujian province in 1956.
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DBS Taiwan aims to replace expat managers from HK and S'pore

The China Post, 24 Oct 2009
DBS Group Holdings Ltd., Southeast Asia's largest bank, will replace more than 30 expatriate managers in Taiwan who helped integrate the acquisition of Bowa Commercial Bank Co. with locals.
The managers, who came from DBS's Hong Kong and Singapore branches, may start returning as early as next year after their projects are completed, said Philip Lim, the company's head of Taiwan consumer banking. Expatriate executives also have the option of remaining in Taiwan on local pay packages, he said.
“We laid the foundation by implementing DBS culture and rules, and now the locals would be better to manage the bank,” Lim, who will leave Taiwan in mid-2010, said in an interview in Taipei.
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MOE Officials Flew To Maryland USA To Learn About Character Education Program

Wbaltv.com, 23 Oct 2009
ANNE ARUNDEL COUNTY, Md. -- A delegation of educators from Singapore is looking to Maryland schools for help in developing a character education program.
Maryland has gotten high marks for its school-based character education programs that encourage academic and cultural understanding.
At Arundel High School on Friday, there was an exchange of ideas between students and a group from Singapore's Ministry of Education.
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GIC Eyeing Aurora Place Office Tower Located In Sydney CBD

The Australian, 24 Oct 2009
GPT is investigating the purchase of the $700m Aurora Place office tower in the Sydney CBD, joining around 10 domestic and international groups running final numbers on the Renzo Piano-designed tower before tenders close next week.
Other groups looking at the building are believed to include the Government of Singapore Investment Corp (GIC), a sovereign wealth fund that has an 11 per cent stake in GPT.
When asked if GPT would buy assets jointly with GIC, Mr Cameron said only that there was a good relationship with the sovereign wealth fund.
GIC already owns a number of large Australian properties, including Sydney's Queen Victoria Building.
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OPINION - Buyers feeling the squeeze - Seah Chiang Nee

The Star Online, 24 Oct 2009
SINGAPORE’S public housing, which has gained world acclaim for creating a nation of homeowners, is sagging under the weight of a wave of foreign arrivals.
In recent weeks, the government has been peppered with complaints from Singaporeans — some of them newlywed graduates — about insufficient new subsidised flats despite repeated applications.
One claimed he had failed 11 times while others talked of two or three failed attempts.
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Obama to meet Singapore' Lee Kuan Yew

AFP
BOSTON, Massachusetts — President Barack Obama will meet Singapore's founding father Lee Kuan Yew next week, the White House said Friday, as the US leader gears up for his first official visit to Asia.
Obama will host Lee, who now serves as a senior cabinet advisor, at the White House on Thursday, Obama deputy spokesman Bill Burton said on Air Force One.
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Singapore’s Lee Says China, India to Rival U.S. in This Century

Bloomberg.com, 24 Oct 2009
The U.S. may have less than a half- century left as the dominant global economic power before it will share top billing with China and India, former Singaporean Prime Minister Lee Kuan Yew said in an interview.
“The first half of the 21st century, a large part of it, will still be the American,” Lee, 86, said in an interview with the Charlie Rose television show on the PBS network. “But I believe the second half you’ll have to share top places with China and also with India. Make space for them, too.”
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Singapore’s Home Prices Rose on Cheap Money, Better Economy

Bloomberg.com, 23 Oct 2009
Singapore’s private home prices rose 15.8 percent in the third quarter, the most in 28 years, as cheap money and improving economic conditions lured buyers.
The price index of private residential property jumped to 154.3 from 133.3 the previous quarter, the Urban Redevelopment Authority said on its Web site today. The increase was the first in more than a year and the biggest quarter-on-quarter gain since March 1981, according to the authority.
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More Pain For GIC As NY Court Rules Against Stuyvesant Town Owners

Reuters, 23 Oct 2009
New York State's highest court on Thursday ruled that the landlords of Manhattan's largest apartment complex improperly raised thousands of rents, further pushing the owners of the $5.4 billion deal struck at the height of a commercial real estate boom toward default.
The ruling is another blow to a property that already has seen much of its value evaporate during the downturn in the U.S. commercial real estate market.
"I think everyone's wiped out," Dan Fasulo, managing director of real estate research firm Real Capital Analytics, said of the non-senior investors in the 2006 sale.
Others who contributed $1.65 billion in equity -- the riskiest piece of any investment -- include $500 million from the California Public Employees' Retirement System, known as Calpers; $100 million from the California State Teachers' Retirement System, known as Calstrs; and $100 million from the Government of Singapore Investment Corp (GIC).
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Related:
While NYC Renters Rejoice, More Pain for Tishman and Co - The Wall Street Journal
GIC’s US$575 million flip on Stuyvesant town about to flop - Teamhocking.com

Singapore Rejects Civil Society Representatives At Asean Summit

Bernama.com, 23 Oct 2009
The governments of Cambodia, Laos, Myanmar, the Philippines and Singapore have rejected members of civil groups from their respective countries at the 15th Asean Summit here.
Debby Stothard, of the Alternative Asean Network, said they were informed by the Thai Foreign Ministry at 11pm yesterday that the leaders would not meet the five people nominated by the civil groups.
"Some governments like Singapore have even replaced the nominees with their own representatives," she said as the summit kicked off at the Dusit Thani Hotel in the seaside resort here Friday.
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Singapore consumer prices fall for sixth month

MSN Money, 23 Oct 2009
SINGAPORE (AP) - Singapore's consumer prices fell in September for a sixth month as property prices slumped.
The consumer price index fell 0.4 percent in the 12 months through September after a 0.3 percent drop in the 12 months to August, the statistics department said Friday.
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Related:
Singapore Consumer Prices Fall For Sixth Consecutive Month - ForexTV.com
Singapore CPI Down 0.1 Per Cent In Sept - Bernama.com
Singapore consumer prices fall for sixth month - eTaiwan News
Singapore Sept. Consumer Prices Drop More Than Expected - RTTNews

Secret Meeting Between North & South Korea Held In Singapore

The Chosun Ilbo (English Edition), 23 Oct 2009
There were secret contacts between the two Koreas in Singapore during Oct. 15-20, possibly to discuss an inter-Korean summit, South Korean officials have admitted. Speaking on condition of anonymity, officials said Kim Yang-gon, the director of North Korea's United Front Department, secretly visited China and contacted a South Korean official. The official has not been identified but is believed to be unconnected to the Unification Ministry.
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Progress at Genting's Singapore Casino Puts Pressure on Sands

The Wall Street Journal, 23 Oct 2009
Malaysian gambling concern Genting Bhd. is on track for a partial opening of its Singapore casino-resort by Christmas, stealing the lead on a competing project by Sheldon Adelson's Las Vegas Sands Corp.
Beating Sands to opening day would allow Resorts World to capitalize on the excitement around Singapore's long-awaited entry into gambling.
Full Story

Related:
Marina Bay Sands in Singapore Adds Chef Daniel Boulud to Its World-Class Menu - Reuters
Famed chef Daniel Boulud to open outpost at new $5 billion Singapore resort - NYDailynews.com

Singaporeans' reliance on the Internet intensify

Asia Media Journal, 23 Oct 2009
People in Singapore’s reliance on the Internet is intensifying as usage of new media continues to rise in prevalence. According to the latest Nielsen Media Index findings, three in five (59%) adults are now logging on to the Internet everyday—an increase of three percentage points from last year.
Although email and general surfing remain the top two activities performed online, the two Internet functions of connectivity and entertainment are fast gaining popularity amongst the population.
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WSJ:Temasek Wants To Invest More Than $1.8B In Coming Months - Sources

The Wall Street Journal, 22 Oct 2009
SINGAPORE (Dow Jones)--Singapore's state-owned investment fund Temasek Holdings Pte. Ltd. wants to invest more than US$1.8 billion in the next few months, with a focus on China, India, Mexico and Brazil, people familiar with the situation said.
Investment teams are currently approaching Temasek with proposals on how the money might be put to work, one of those people told Dow Jones Newswires, adding that the amount to be invested could grow if a major opportunity comes along.
The investment drive will be led by Temasek's Chief Executive Ho Ching.
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Related:
Temasek seeking to invest $1.8 billion in coming months - MarketWatch

Executive Hiring in Asia Improves Sharply: Survey

ABC News, 22 Oct 2009
Job prospects for executives at multinationals in Greater China and Singapore have improved sharply in the past three months amid growing optimism that Asia's recovery from the global recession will be sustainable, a quarterly survey showed on Thursday.
"Asia is the first region to emerge from the global recession, causing employers to revise their hiring expectations sharply upwards," said Mike Game, chief executive of executive recruiters Hudson Asia.
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Related:
Singapore companies expect increase in headcount: survey - Xinhua

MINDEF, NTU join hands to boost Singapore's defense R&D capabilities

EurekAlert, 22 Oct 2009
Singapore's Ministry of Defence (MINDEF) and the Nanyang Technological University (NTU) are attracting outstanding talent to work on projects to strengthen Singapore's defence science and technology research and development (R&D) capabilities.
The MOU governs the setting up of the Temasek Research Fellowship and the Nanyang-DSO Post-Doctoral Fellowship schemes.
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Singapore sees surge in rich Russian interest

Financial Times, 21 Oct 2009
Singapore is attracting a surge of Russian investment as rich business people seek a politically stable home for their personal wealth as well as exposure to Asia’s rapid recovery from the global financial crisis.
Officials and bankers say significant sums have been deposited in the island state’s booming private banking sector, with Russian money also flowing into the stock market through investments in property and luxury services companies.
Full Story

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Wealthy Russians invest in Singaporean private banking sector - Wealth-bulletin.com
FT: Singapore sees Russian money influx - Spearswms.com

Singapore Appoints Ex-Judge, Richard Magnus, To Asean Human Rights Commission

Bernama.com, 22 Oct 2009
The Singapore government has appointed a retired senior district judge, Richard R. Magnus, as the city-state's representative to the Asean Intergovernmental Commission on Human Rights (AICHR).
The AICHR is an organ of Asean established in accordance with the Asean Charter as the overarching human rights institution in Asean, with overall responsibility for the promotion and protection of human rights in the regional grouping.
Full Story

Related:
Singapore appoints ex-judge to Asean human rights body - The Star Online

Singapore’s legal industry: more lawyers, less firms

Asia.legalbusinessonline.com, 21 Oct 2009
While the number of lawyers in Singapore has grown, the number of small law firms has shrunk.
According to the 2009 annual report by the Law Society of Singapore, the number of lawyers in Singapore has grown by 6% since last year – from 3,490 to 3,697 lawyers. However, the number of smaller-sized firms employing five or less lawyers has shrunk: there were 711 firms in 2005, but this has now dropped around 3% to 685.
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Rising oil prices fuel Singaporean consumer fears

The Malaysian Insider, 22 Oct 2009
THE price of crude oil has crossed the US$80 (RM272) a barrel mark for the first time in a year, prompting concerns that an unchecked rise in oil prices could derail the fragile economic recovery.
Oil prices are now up about 10 per cent since the start of the month.
Market experts say the price hike is speculative, arising from investors’ rush to commodities and generally positive economic sentiment.
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Survey: Singaporean Web users unable to spot phishing

Computerworld, 21 Oct 2009
Eighty-three per cent of Web users in Singapore are at risk from online fraud because they can't identify the prevalent forms of phishing, according to a YouGov survey.
Of the eight countries interviewed worldwide, Singapore came in sixth place, with India last, whose users it appears are savvier in protecting their identities and personal details online, at 76 per cent, stated the report.
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Singapore Changi Airport the World’s Favorite Airport

AsiaTravelTips.com, 22 Oct 2009
A survey of more than 14,500 frequent travelers, representing 160 countries around the world, has revealed Singapore Changi airport as the world’s favorite airport, closely followed by Hong Kong Chek Lap Kok.
The poll was conducted by Priority Pass, an independent airport lounge programme.
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Singapore official calls on protection against family violence

People's Daily Online, 21 Oct 2009
rotecting vulnerable adults from family violence is a critical but scarcely discussed area on family violence, a Singapore senior official said on Wednesday.
"We usually think of children and women as victims, but there are other vulnerable groups, including the elderly and adults with disabilities," Singapore Minister for Community Development, Youth and Sports Vivian Balakrishnan said at Singapore's National Family Violence Symposium 2009.
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S'pore ranked 2nd highest on Gini coefficient score in UN report

Finance.yahoo.com, 16 Oct 2009
The U.N. Development Program recently came out with a report looking, among other things, at income inequality worldwide.
The UNDP ranked countries and regions based on a number of factors, including their Gini coefficient, named for Italian statistician Corrado Gini.
No. 1 Hong Kong
Gini score: 43.4
GDP 2007 (US$ billions): 207.2
Share of income or expenditure (%)
Poorest 10%: 2.0
Richest 10%: 34.9
Ratio of income or expenditure, share of top 10% to lowest 10%: 17.8
No. 2 Singapore
Gini score: 42.5
GDP 2007 (US$ billions): 161.3
Share of income or expenditure (%)
Poorest 10%: 1.9
Richest 10%: 32.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 17.7
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Arrests Before APEC: Police Power Expanded With Singapore's New Law

The Epoch Times, 20 Oct 2009
The arrest of a 70-year-old Singaporean man last week has seen the collision of freedoms expressed under constitutional law with new laws that give police arbitrary powers.
Singapore’s Public Order Bill, introduced in April this year, was invoked for the first time for the arrest of Chua Eng Chwee on Oct. 14.
Chua, a Falun Gong practitioner, was meditating at Esplanade Park near the Suntec Singapore Convention Center—the upcoming Asia-Pacific Economic Cooperation (APEC) venue—when removed under the move on law.
The move on law allows police to order people to leave a place for up to 24 hours. If they return within that time, as Chua did, they may be arrested.
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Singaporeans Marrying Foreigners Via Match-making Services?

Bernama.com, 20 Oct 2009
About 8,000 Singaporeans were married to foreign citizens last year, the Singapore parliament was told Tuesday.
Of these, 6,360 marriages were between Singaporean grooms and foreign brides, said Community Development, Youth and Sports Minister Dr Vivian Balakrishnan in a written reply to a question in the current 11th sitting of Parliament.
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Singapore Students Involved In Loan Sharking

Bernama.com, 20 Oct 2009
Almost half of the 136 Singaporean youths arrested for loan sharking and related harassment activities in the city-state for the past year were students, according to Education Minister Dr Ng Eng Hen.
He said this in a written reply to a question in the current 11th sitting of the Singapore Parliament here.
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Singapore gets tough on global tax cheats: govt

AFP
Singapore has passed a law aimed at tightening the screws on cross-border tax cheats and complying with stricter standards for world banking centres, the finance ministry said Tuesday.
The move is the latest measure by Southeast Asia's financial capital, which denies being a haven for tax evaders, to get itself off a "grey list" of countries that have not fully implemented the standards.
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Singapore will not allow 'fishing expeditions' to fight tax evasion

EarthTimes, 20 Oct 2009
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.
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Singapore's financial center standing enhanced through crisis: official

Xinhua, 20 Oct 2009
A senior Singapore official said on Tuesday that as a financial center, Singapore has come through the crisis with its reputation and standing enhanced.
In achieving this, Singapore Minister for Law and Second Minister for Home Affairs K Shanmugam said that Singapore banks had avoided investing heavily in risky products and the regulatory environment was such that prudence was emphasized.
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Shortage of skilled-labor in Singapore pharmaceutical sector

Xinhua, 20 Oct 2009
There is a shortage of cost accountants and cost controllers in Singapore's pharmaceutical sector, local media reported on Tuesday.
According to human resource consultancy Robert Walters, corresponding to an increase in the number of companies opening manufacturing facilities in Singapore, demand for candidates with research and development experience has also increased significantly, local broadcaster Channel NewsAsia reported.
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Temasek Gets US$1.5 Billion From First Bonds Since 2005

Bloomberg.com, 20 Oct 2009
Oct. 20 (Bloomberg) -- Temasek Holdings Pte, Singapore’s government-owned investment company, raised $1.5 billion from its first bond sale in four years.
The company sold 10-year, 4.3 percent notes with help from Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley that were priced to yield 95 basis points more than similar- maturity U.S. Treasuries, according to data compiled by Bloomberg.
Full Story

Related:
Temasek launches $1.5 bln 10-yr note sale - Reuters
Temasek Sells $1.5B 2019 Bonds At 99.775, To Yield 4.328% - The Wall Street Journal
Spread Narrows on Temasek’s First Bonds in Four Years - Bloomberg.com

Indian banks hit the rule wall in Singapore, Hong Kong

Business Standard, 20 Oct 2009
Stricter norms in Singapore and Hong Kong have queered the pitch for many mid-sized Indian public sector banks. More than a dozen Indian banks have operations in these two countries.
Ahead of the financial turmoil, the Monetary Authority of Singapore had said that whatever liabilities foreign banks had in Singapore dollars, equivalent assets should be created in the same currency.
After the financial crisis, with profitability of banks from overseas branches falling, Indian banks are finding it difficult to adhere to the regulation.
Full Story

Singapore Parliament Passes Bill To Change Bank Secrecy Laws

Nasdaq
SINGAPORE -(Dow Jones)- Singapore's parliament has passed a bill amending its tax laws that will allow the city-state to implement an internationally agreed standard for the exchange of information on tax matters.
Monday's approval by the parliament is a step closer for Singapore to get off the OECD, gray list of countries, which have been targeted by the U.S., France, Germany and others over concerns that their tax laws could hide tax evaders and money launderers.
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What Singapore Can Teach the White House

The Wall Street Journal, 20 Oct 2009
Critics of this island-nation often have fun referring to it as the "nanny state" for its laws against spitting, littering, or leaving behind an unflushed loo.
When it comes to health care, however, Uncle Sam has better claim to the nanny title. From our federal price "negotiations" and state regulations to discrimination in the tax code, government distortions prop up a system that puts key health-care decisions in the hands of everyone but the patient. Each new government intrusion, moreover, begets only higher costs—and a call for more intervention to fix the problem.
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Malaysia, Singapore further liberalise air services

Flightglobal, 20 Oct 2009
Malaysia and Singapore have further liberalised their air services agreement by adding new destinations and increasing frequencies on existing routes.
Singapore's ministry of transport says the two sides have finalised a new air services agreement that includes six new routes.
These are between Singapore and: Alor Setar, Bintulu, Labuan, Kerteh, Kota Bahru and Sibu, it says.
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Growth of China, India to shape new world order: Singapore's Lee Kuan Yew

Xinhua, 20 Oct 2009
SINGAPORE, Oct. 19 (Xinhua) -- Singapore Minister Mentor Lee Kuan Yew said on Monday that the growth of China and India will result in a new world order.
According to local TV broadcaster Channel NewsAsia, Lee spoke at a dialogue held at the National University of Singapore that the recent financial turmoil had possibly accelerated the pace of growth for the two countries.
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GIC-backed China Food Firm Going For Largest IPO Since '08

Reuters, 19 Oct 2009
Minzhong, a leading Chinese food processing company backed by Singapore's GIC and buyout fund Olympus Capital, has hired JPMorgan (JPM.N) to help it go public, sources said on Monday.
It would be Singapore's largest IPO since June 2008.
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Singapore to increase budget spending next year

The Malaysian Insider, 19 Oct 2009
SINGAPORE, Oct 19 — Singapore will lift spending from infrastructure to education next year and maintain a similar budget deficit, a sign the export-dependent country fears an economic rebound may not hold without government support.
The government tapped reserves for the first time this year to fund part of a US$13.7 billion (RM46.23 billion) stimulus in January’s budget that was aimed at helping companies and saving jobs during the country’s worst ever recession. “We are spending a lot more next year and the coming years compared to the past. If we take infrastructure alone, we are spending more,” he said, adding spending was also rising on education and healthcare.
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Singapore passes new tax law to implement OECD tax standard

EarthTimes, 19 Oct 2009
Singapore's parliament on Monday passed a bill that will bring the city-state's tax law in line with the international standard set by the Organization for Economic Cooperation and Development (OECD) to fight tax evasion across borders. Singapore had been under international pressure to improve banking transparency and had been put on a "grey list" by OECD as a state committed to the international standard on sharing information on taxes but not yet substantially implementing it.
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Related:
Singapore passes tax disclosure law as G20 pushes - Reuters

Myanmar PM to attend ASEAN summit

AFP
Myanmar's prime minister, General Thein Sein, will attend the annual Association of Southeast Asian Nations summit in Thailand this week, an official announced Monday.
The official confirmed a state media report that General Thein Sein would visit the key summit in the Gulf of Thailand, where regional heads of state are set to gather Friday.
Thein Sein's last appearance at an ASEAN summit was in 2007, when he caused a diplomatic furore by forcing host Singapore to revoke an invitation to UN envoy Ibrahim Gambari.
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