The Washington Post, 30 Jul 2010
The Obama administration has adopted a tougher tone with China in recent weeks as part of a diplomatic balancing act in which the United States welcomes China's rise in some areas but also confronts Beijing when it butts up against American interests.
The U.S. response was unveiled July 23 in Hanoi when 12 nations -- Vietnam as the first and the United States as the last -- raised the issue of the South China Sea at an annual security forum of the Association of South East Asian Nations. Calling freedom of navigation on the sea a U.S. "national interest," Secretary of State Hillary Rodham Clinton offered to facilitate moves to create a code of conduct in the region. And then she said: "Legitimate claims to maritime space in the South China Sea should be derived solely from legitimate claims to land features."
Foreign Minister Yang reacted by leaving the meeting for an hour. When he returned, he gave a rambling 30-minute response in which he accused the United States of plotting against China on this issue, seemed to poke fun at Vietnam's socialist credentials and apparently threatened Singapore, according to U.S. and Asian officials in the room.
"China is a big country and other countries are small countries, and that's just a fact," he said, staring directly at Singapore's foreign minister, George Yeo, according to several participants at the meeting. Full Story
OPINION: SINGAPORE: Silence of the Lions - Stanislaus Jude Chan
Asia Media Forum, 30 Jul 2010
They call this the Lion City. But the quickest way to shut a Singaporean up and turn his roar into a feeble squeak is to shove a microphone to his face and tell him you are a reporter.
For example, in a story on the social impact of the casinos unveiled this year, the simple task of gathering a couple of voices from visitors took longer than expected. Two hours longer than expected, to be exact. And I understand the sentiments of the 37 people – yes, I keep count – who declined to be interviewed. The casinos, or integrated resorts, are far from being socially acceptable here, and not many people want to be associated as, or mistaken to be, one of the “problem gamblers”. Full Story
Related:
SINGAPORE: Silence of the Lions - The Mindanao Examiner
They call this the Lion City. But the quickest way to shut a Singaporean up and turn his roar into a feeble squeak is to shove a microphone to his face and tell him you are a reporter.
For example, in a story on the social impact of the casinos unveiled this year, the simple task of gathering a couple of voices from visitors took longer than expected. Two hours longer than expected, to be exact. And I understand the sentiments of the 37 people – yes, I keep count – who declined to be interviewed. The casinos, or integrated resorts, are far from being socially acceptable here, and not many people want to be associated as, or mistaken to be, one of the “problem gamblers”. Full Story
Related:
SINGAPORE: Silence of the Lions - The Mindanao Examiner
Labels:
opinions
OPINION: GDP up, but no cheer heard - Seah Chiang Nee
Malaysia Star, 31 Jul 2010
Few people believe it will greatly improve their lives and may in fact raise the cost of living.
Some revived the old criticism that “the government becomes rich, but the people remain poor”, which doesn’t describe today’s middle class in Singapore.
In addition, people’s expectations have also risen. This is because of rising affluence and the investment on education during the past few decades now paying off.
It has produced a knowledgeable, diversified new generation which is tech-savvy and better informed. The consequence is they demand more and expect more from society. Full Story
Few people believe it will greatly improve their lives and may in fact raise the cost of living.
Some revived the old criticism that “the government becomes rich, but the people remain poor”, which doesn’t describe today’s middle class in Singapore.
In addition, people’s expectations have also risen. This is because of rising affluence and the investment on education during the past few decades now paying off.
It has produced a knowledgeable, diversified new generation which is tech-savvy and better informed. The consequence is they demand more and expect more from society. Full Story
Labels:
opinions
SingTel expands IPTV footprint
IPTV News, 30 Jul 2010
Singaporean telco SingTel now has 1.2mn households within its IPTV-capable footprint, and is reportedly planning to double its customer installation capabilities from 400 to 800 per day in anticipation of the upcoming season of the English Premier League.
Speaking to news website Channel NewsAsia, the telco's CEO Allen Lew said that the company is planning to make "significant" investments to enhance its IPTV service, called 'mio TV', which currently has around 200,000 subscribers. Full Story
Singaporean telco SingTel now has 1.2mn households within its IPTV-capable footprint, and is reportedly planning to double its customer installation capabilities from 400 to 800 per day in anticipation of the upcoming season of the English Premier League.
Speaking to news website Channel NewsAsia, the telco's CEO Allen Lew said that the company is planning to make "significant" investments to enhance its IPTV service, called 'mio TV', which currently has around 200,000 subscribers. Full Story
Labels:
glc,
telecommunication
OPINION: Singapore's reputation on the line as British author fights on - James Gomez
Guardian.co.uk , 30 Jul 2010
Singapore's long-serving administration has won some time to ponder how it will deal with yet another self-inflicted blow to its global branding.
The reprieve came as a Singapore court today postponed a case against the British author Alan Shadrake for three weeks.
Shadrake, 75, faces contempt of court charges, after Singapore's Media Development Authority lodged a police report on 16 July against his book Once a Jolly Hangman: Singapore Justice in the Dock, which criticises the application of the death penalty. Published in neighbouring Malaysia, the book has sparked a criminal defamation investigation against the author in Singapore.
Shadrake rejected an offer of mitigation in exchange for an apology at today's contempt of court hearing and said he would fight on. This means more reputation damage is in store for the People's Action Party administration in the weeks ahead. Full Story
Singapore's long-serving administration has won some time to ponder how it will deal with yet another self-inflicted blow to its global branding.
The reprieve came as a Singapore court today postponed a case against the British author Alan Shadrake for three weeks.
Shadrake, 75, faces contempt of court charges, after Singapore's Media Development Authority lodged a police report on 16 July against his book Once a Jolly Hangman: Singapore Justice in the Dock, which criticises the application of the death penalty. Published in neighbouring Malaysia, the book has sparked a criminal defamation investigation against the author in Singapore.
Shadrake rejected an offer of mitigation in exchange for an apology at today's contempt of court hearing and said he would fight on. This means more reputation damage is in store for the People's Action Party administration in the weeks ahead. Full Story
Labels:
opinions
Singapore's unemployment rate edges up slightly in Q2
People's Daily Online, 30 Jul 2010
The seasonally adjusted overall unemployment rate in Singapore reached 2.3 percent in the second quarter of this year, official data showed on Friday.
The second quarter number edged up slightly from 2.2 percent in the first quarter of this year, but improved from 3.2 percent in the same period of last year, Singapore's Ministry of Manpower said.
Similarly, among the resident labor force, the seasonally adjusted unemployment rate rose slightly from 3.2 percent in the first quarter to 3.3 percent in the second quarter, but was significantly below the 4.5 percent in the second quarter of 2009. Full Story
Related:
Singapore Employers Boost Payrolls as Record Economic Growth Spurs Hiring - Bloomberg.com
The seasonally adjusted overall unemployment rate in Singapore reached 2.3 percent in the second quarter of this year, official data showed on Friday.
The second quarter number edged up slightly from 2.2 percent in the first quarter of this year, but improved from 3.2 percent in the same period of last year, Singapore's Ministry of Manpower said.
Similarly, among the resident labor force, the seasonally adjusted unemployment rate rose slightly from 3.2 percent in the first quarter to 3.3 percent in the second quarter, but was significantly below the 4.5 percent in the second quarter of 2009. Full Story
Related:
Singapore Employers Boost Payrolls as Record Economic Growth Spurs Hiring - Bloomberg.com
Labels:
employment
OPINION: US stops Singapore Judges COLD! - John Harding
Getting At The Truth, 29 Jul 2010
On July 19th, the US Senate passed a bill to shield US journalists, authors, and publishers from “libel tourists” who file suit in countries where they expect to get the most favorable ruling. The Senate approved the measure in a “unanimous consent” voice vote.
The popular legislation headed to the House of Representatives, which was expected to approve it and send the measure to US President Barack Obama to sign into law.
Backers of the bill have cited Singapore as the major country where weak libel safeguards attract lawsuits that unfairly harm US journalists, writers and publishers. Full Story
On July 19th, the US Senate passed a bill to shield US journalists, authors, and publishers from “libel tourists” who file suit in countries where they expect to get the most favorable ruling. The Senate approved the measure in a “unanimous consent” voice vote.
The popular legislation headed to the House of Representatives, which was expected to approve it and send the measure to US President Barack Obama to sign into law.
Backers of the bill have cited Singapore as the major country where weak libel safeguards attract lawsuits that unfairly harm US journalists, writers and publishers. Full Story
Labels:
opinions
Economic rebound boosts employee reward in Singapore
Thomson Online Benefits, 30 Jul 2010
Employees in Singapore are expecting their wages and employee benefits to increase in light of positive feedback regarding the country's economic recovery.
Lim Swee Say, secretary-general of the National Trades Union Congress, was happy with the responses from union leaders and optimistic about the wage increments for the well-deserving Singaporean workforce.
However, he has urged business organisations to be innovative providing their staff members with employee rewards. Full Story
Employees in Singapore are expecting their wages and employee benefits to increase in light of positive feedback regarding the country's economic recovery.
Lim Swee Say, secretary-general of the National Trades Union Congress, was happy with the responses from union leaders and optimistic about the wage increments for the well-deserving Singaporean workforce.
However, he has urged business organisations to be innovative providing their staff members with employee rewards. Full Story
Labels:
employment
Singapore Central Bank Bills to Soak Up Inflows, Analysts Say
BusinessWeek, 30 Jul 2010
July 30 (Bloomberg) -- Singapore’s planned issuance of central bank bills will help limit money-supply growth as investors channel more funds into the world’s fastest-growing economy, say Standard Chartered Plc and Barclays Plc.
The Monetary Authority of Singapore, or MAS, yesterday announced that it will issue negotiable central bank bills with maturities of up to three months from the second quarter of 2011. The government predicts gross domestic product will increase as much as 15 percent this year and the MAS in April unexpectedly revalued the Singapore dollar to help contain inflation. Full Story
July 30 (Bloomberg) -- Singapore’s planned issuance of central bank bills will help limit money-supply growth as investors channel more funds into the world’s fastest-growing economy, say Standard Chartered Plc and Barclays Plc.
The Monetary Authority of Singapore, or MAS, yesterday announced that it will issue negotiable central bank bills with maturities of up to three months from the second quarter of 2011. The government predicts gross domestic product will increase as much as 15 percent this year and the MAS in April unexpectedly revalued the Singapore dollar to help contain inflation. Full Story
Labels:
financial
Singapore Power Unit Sells A$500 Million of 7% Bonds
BusinessWeek, 30 Jul 2010
July 30 (Bloomberg) -- SPI (Australia) Assets Ltd., a unit of Singapore Power Ltd., sold A$500 million ($451 million) of 7 percent five-year notes, according to data compiled by Bloomberg.
Standard & Poor’s rated the notes A-, the seventh-highest grade, while Moody’s Investors Service graded them an equivalent A3, Bloomberg data show. Full Story
July 30 (Bloomberg) -- SPI (Australia) Assets Ltd., a unit of Singapore Power Ltd., sold A$500 million ($451 million) of 7 percent five-year notes, according to data compiled by Bloomberg.
Standard & Poor’s rated the notes A-, the seventh-highest grade, while Moody’s Investors Service graded them an equivalent A3, Bloomberg data show. Full Story
Labels:
glc
China bank watchdog okays CCB's $11 billion cash call
Reuters, 30 Jul 2010
(Reuters) - China's banking regulator cleared China Construction Bank's (601939.SS)(0939.HK) plan for an $11 billion rights issue in Hong Kong and Shanghai, the bank said in a statement to the Hong Kong stock exchange on Friday.
CCB is 12 percent owned by Bank of America (BAC.N) and 6 percent owned by Singapore state investor Temasek TEM.UL. Full Story
(Reuters) - China's banking regulator cleared China Construction Bank's (601939.SS)(0939.HK) plan for an $11 billion rights issue in Hong Kong and Shanghai, the bank said in a statement to the Hong Kong stock exchange on Friday.
CCB is 12 percent owned by Bank of America (BAC.N) and 6 percent owned by Singapore state investor Temasek TEM.UL. Full Story
Labels:
temasek
Death penalty book author defiant in Singapore
AFP
With his passport impounded to prevent him from leaving the country, the 75-year-old freelance journalist remained defiant despite facing possible imprisonment.
"Whatever they do to me, it will prove whatever I say in my book," he told reporters outside the court after the hearing.
"I'm not a wimp, I'm not a coward," Shadrake added. "I want to have my day in court... I'm not running away. If I run away, it means I'm guilty." Full Story
Related:
British Death Penalty Book Author Defiant in Singapore - The Jakarta Globe
British death penalty author rejects plea bargain in Singapore contempt case, could face jail - The Canadian Press
U.K. Author Says He Won't Apologize for Book on Singapore's Death Penalty - Bloomberg.com
With his passport impounded to prevent him from leaving the country, the 75-year-old freelance journalist remained defiant despite facing possible imprisonment.
"Whatever they do to me, it will prove whatever I say in my book," he told reporters outside the court after the hearing.
"I'm not a wimp, I'm not a coward," Shadrake added. "I want to have my day in court... I'm not running away. If I run away, it means I'm guilty." Full Story
Related:
British Death Penalty Book Author Defiant in Singapore - The Jakarta Globe
British death penalty author rejects plea bargain in Singapore contempt case, could face jail - The Canadian Press
U.K. Author Says He Won't Apologize for Book on Singapore's Death Penalty - Bloomberg.com
Labels:
human rights
Singapore Court Adjourns U.K. Author Alan Shadrake's Trial Over Book About Death Penalty
Bloomberg.com, 30 Jul 2010
The trial of Alan Shadrake, the British author charged for contempt of court over his book on Singapore’s death penalty challenging the integrity and independence of the city’s judiciary, was adjourned today.
Justice Quentin Loh gave M. Ravi, Shadrake’s lawyer, two weeks to file an affidavit. Ravi had asked for a month’s adjournment to file a defense of “fair criticism and fair comment.” Ravi said he needs to consult with various government bodies and other parties about their views and Shadrake’s medical conditions. Full Story
Related:
UK author Shadrake's Singapore contempt trial adjourned - BBC News
The trial of Alan Shadrake, the British author charged for contempt of court over his book on Singapore’s death penalty challenging the integrity and independence of the city’s judiciary, was adjourned today.
Justice Quentin Loh gave M. Ravi, Shadrake’s lawyer, two weeks to file an affidavit. Ravi had asked for a month’s adjournment to file a defense of “fair criticism and fair comment.” Ravi said he needs to consult with various government bodies and other parties about their views and Shadrake’s medical conditions. Full Story
Related:
UK author Shadrake's Singapore contempt trial adjourned - BBC News
Labels:
human rights
DBS posts Q2 loss after surprise HK goodwill charge
Reuters, 30 Jul 2010
SINGAPORE, July 30 (Reuters) - DBS Group (DBSM.SI), Southeast Asia's biggest bank, posted a surprise quarterly loss, its first in almost five years, after it took a S$1.02 billion ($748.9 million) goodwill charge for its Hong Kong business.
But excluding the one-time charge, core earnings rose 30 percent, beating market expectations, and the bank said its outlook remained healthy.
Analysts said there may be more room for writedowns on its Hong Kong business, which is a legacy from 2001 when DBS tookover Dao Heng bank in an expensive $5.8 billion deal. Full Story
Related:
DBS Has Surprise Quarterly Loss on Goodwill Charge - BusinessWeek
DBS Q2 earnings hit by impairment charge - MSN Philippines News
Singapore's DBS bank reports surprise second-quarter loss - Earth Times
DBS CEO says further writedowns for HK unit unlikely - Reuters
DBS Posts Surprise Second-Quarter Loss on $747 Million Impairment Charge - Bloomberg.com
SINGAPORE, July 30 (Reuters) - DBS Group (DBSM.SI), Southeast Asia's biggest bank, posted a surprise quarterly loss, its first in almost five years, after it took a S$1.02 billion ($748.9 million) goodwill charge for its Hong Kong business.
But excluding the one-time charge, core earnings rose 30 percent, beating market expectations, and the bank said its outlook remained healthy.
Analysts said there may be more room for writedowns on its Hong Kong business, which is a legacy from 2001 when DBS tookover Dao Heng bank in an expensive $5.8 billion deal. Full Story
Related:
DBS Has Surprise Quarterly Loss on Goodwill Charge - BusinessWeek
DBS Q2 earnings hit by impairment charge - MSN Philippines News
Singapore's DBS bank reports surprise second-quarter loss - Earth Times
DBS CEO says further writedowns for HK unit unlikely - Reuters
DBS Posts Surprise Second-Quarter Loss on $747 Million Impairment Charge - Bloomberg.com
Singapore MM Lee suggests no retirement age
i-Newswire, 29 Jul 2010
At a dialogue session with over 900 senior managers, government officials and unionists on Wednesday, Minister Mentor Lee Kuan Yew has said that there should be no retirement age for workers.
Held in conjunction with the 30th anniversary of the Singapore National Employers Federation (SNEF), the Minister Mentor (MM) solicited laughter from the audience when he made the bold suggestion of have no retirement age for Singapore.
“You work as long as you can work and you will be healthier and happier for it. If you ask me to stop working all of a sudden, I think I'll just shrivel up, face the wall and just that." Said the 86-year-old who was responding to a question on the potential challenges posed to Singapore’s ageing population. Full Story
At a dialogue session with over 900 senior managers, government officials and unionists on Wednesday, Minister Mentor Lee Kuan Yew has said that there should be no retirement age for workers.
Held in conjunction with the 30th anniversary of the Singapore National Employers Federation (SNEF), the Minister Mentor (MM) solicited laughter from the audience when he made the bold suggestion of have no retirement age for Singapore.
“You work as long as you can work and you will be healthier and happier for it. If you ask me to stop working all of a sudden, I think I'll just shrivel up, face the wall and just that." Said the 86-year-old who was responding to a question on the potential challenges posed to Singapore’s ageing population. Full Story
Labels:
employment,
Lee Kuan Yew
Singapore central bank posts net profit gains in last financial year
People's Daily Online, 29 Jul 2010
The Monetary Authority of Singapore (MAS) said it posted a net profit of 10.12 billion Singapore dollars (about 7.4 billion U.S. dollars) during the financial year ending March 31.
MAS Managing Director Heng Swee Keat presented the sterling results at the MAS annual report press conference on Thursday.
He said that the increase could be attributed to the stronger Singapore dollar, interest and dividend income, as well as gains in the valuation of assets. Full Story
The Monetary Authority of Singapore (MAS) said it posted a net profit of 10.12 billion Singapore dollars (about 7.4 billion U.S. dollars) during the financial year ending March 31.
MAS Managing Director Heng Swee Keat presented the sterling results at the MAS annual report press conference on Thursday.
He said that the increase could be attributed to the stronger Singapore dollar, interest and dividend income, as well as gains in the valuation of assets. Full Story
Labels:
financial
Temasek's Mapletree eyes property expansion in China
China Knowledge, 29 Jul 2010
Jul. 29, 2010 (China Knowledge) - Mapletree Investments Pte Ltd, a property investment unit of Singapore state-owned Temasek Holdings, said yesterday that it will quickly expand its China portfolio due to huge potential in the country's property market, Shanghai Daily reported.
As one of its Chinese expansions, the firm will launch its second China-focused property fund after its Mapletree India China Fund, or MIC, has fully subscription by investors. With a total sum of US$1 billion, the fund will be used to expand its business solely in China. Full Story
Related:
Singapore Mapletree Bets on Beijing, Shanghai Real Estate - TradingMarkets.com
Jul. 29, 2010 (China Knowledge) - Mapletree Investments Pte Ltd, a property investment unit of Singapore state-owned Temasek Holdings, said yesterday that it will quickly expand its China portfolio due to huge potential in the country's property market, Shanghai Daily reported.
As one of its Chinese expansions, the firm will launch its second China-focused property fund after its Mapletree India China Fund, or MIC, has fully subscription by investors. With a total sum of US$1 billion, the fund will be used to expand its business solely in China. Full Story
Related:
Singapore Mapletree Bets on Beijing, Shanghai Real Estate - TradingMarkets.com
Labels:
temasek
OPINION: Elderly Lee Kuan Yew offers to take pay cut - Ben Bland
Asian Correspondent, 29 Jul 2010
Singaporean officials are among the best-paid in the world thanks to Lee's long-term policy of paying "private sector" wages to bring the best people into government and ensure that they are not tempted into corruption.
The 86-year-old Lee has suggested that to improve Singapore's sagging productivity, there should be no retirement age and workers should carry on going as long as they are healthy.
Given Lee's admission that he is "still functioning, if not at the rate at which I was functioning, say, 20 years ago ... I have aches and pains, but nothing terminal and I can keep going," it seems as if he's offering to take a pay cut. Full Story
Singaporean officials are among the best-paid in the world thanks to Lee's long-term policy of paying "private sector" wages to bring the best people into government and ensure that they are not tempted into corruption.
The 86-year-old Lee has suggested that to improve Singapore's sagging productivity, there should be no retirement age and workers should carry on going as long as they are healthy.
Given Lee's admission that he is "still functioning, if not at the rate at which I was functioning, say, 20 years ago ... I have aches and pains, but nothing terminal and I can keep going," it seems as if he's offering to take a pay cut. Full Story
Labels:
Lee Kuan Yew,
opinions
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