OPINION: Singapore should “grow up” and be more welcoming of foreign financial talent

eFinancialcareers.sg, 30 Nov 2011
Many international firms arrived with an open mind and wanted to hire locals, but I repeatedly heard stories of disappointment. Hiring managers told me that the existing talent pool is demotivated, apathetic and complacent. As a result, they prefer to pay a premium for Western professionals who can start in a position from day one with little oversight.
Dozens of people from well-respected international financial institutions told me stories about being transferred to Singapore only to find that their boss is ‘anti-expat’ and only hires under-qualified locals to fill other roles in their team. Full story

Related:
The runaway MBA: I’m an American financial professional, but I hope my future career will be shaped in Singapore, not New York - eFinancialCareers.sg
The Runaway MBA: Singapore is so small you can see everyone in your sector just by sitting in the same cafe every day - eFinancialCareers.sg

Sri Lanka bourse holds forum in Singapore to attract investors

ColomboPage.com, 30 Nov 2011
Nov 30, Colombo: Sri Lanka's Colombo Stock Exchange (CSE) has held an investor forum in Singapore yesterday (29) in a bid to attract the fund managers and investors based in Singapore.
The bourse in a statement said it successfully concluded a strong pitch for the investors at the forum titled "Invest Sri Lanka". Full story

Dutch national becomes sixth Changi Millionaire finalist

DFNIonline.com, 30 Nov 2011
Dutch national Dr Mohamed Reda Akdim has become the sixth finalist for the Be a Changi Millionaire shopping promotion at Singapore Changi airport. Akdim (pictured) won S$5,000 ($3,865) in cash plus return airfare to Singapore with a three-day/two-night stay in a luxurious hotel after purchasing a $9,0000 ($6,962) Omega. Adkim will join five other finalists at the start of next year to compete for the grand prize of S$1m ($773,883) in cash and plans to buy a house if he wins the money. Full story

MF Global Singapore Fires at Least 80 Employees

BusinessWeek, 30 Nov 2011
Nov. 30 (Bloomberg) -- MF Global Holdings Ltd.’s Singapore unit fired at least 80 employees, according to its provisional liquidator KPMG.
“With regret, one of these measures to contain costs involves reducing the employee headcount at MF Global Singapore,” Bob Yap, head of transactions and restructuring at KPMG in Singapore.... Full story

Related:
MF Global Singapore lays off more than 80 staff - The Economic Times

Pinoy "expat" gets advice in forum on using HDB rental to finance private condomimium

PinoySG.com
foreig: "SGD 6K monthly is enough to live comfortably in Singapore.
In fact, with careful financing you could even get richer ahead of others in Singapore.
1. Volunteer to help out at your constituency.
1. Get a PR. (not citizenship unless you moving on to US or Europe)
2. Buy HDB. (do not worry. HDB price will not crash, it will only go up, up)
3. Rent out your HDB and buy a private condonminium (must inform HDB about you renting it out.)
4. Use the HDB rental to finance your private condonminium"
Link

Lee Kuan Yew: Lee Teng-hui's 'Moses" self-reference irks China's Jiang

The China Post, 30 Nov 2011
An erstwhile proposal to form a jointly owned shipping company between Taiwan, Singapore and China was thwarted by former President Lee Tung-hui's statement comparing himself to the bible's Moses, which so angered former Chinese President Jiang Zemin (江澤民) that he called the entire deal off, according to ex-Singapore Prime Minister Lee Kuan Yew's (李光耀) new book. Full story

GIC's GLP to raise S$500 mln via perpetuals-sources

Reuters, 29 Nov 2011
Nov 29 (Reuters) - Singapore-listed warehouse operator Global Logistic Properties Ltd hopes to raise about S$500 million ($385 million)via the issue of perpetual capital securities to fund its operations, sources said on Tuesday. Full story

OPINION: 10 reasons why we love SG - Aimee Chan

CNNGo.com, 30 Nov 2011
There are some very positive reasons why many are choosing to stay, rather than leave, the Little Red Dot.
And it’s not just that Singapore is clean, green and safe. And positivity doesn’t mean a cheesy, clichéd campaign slogan or overstated accolades. Day-to-day life in Singapore can be pretty good, even if you loath to admit it. Full story

GOP presidential candidate Newt Gingrich Praises Singapore’s Mandate Executions For Drug Possession

Thinkprogress.org, 29 Nov 2011
At one point, the interviewer, Chris Moody, asked Gingrich if he still supports a bill he introduced in the ’90s that would’ve given capital punishment to drug smugglers. Gingrich responded that he does support this policy for cartel leaders and that he wants to see a new drug strategy overall. He then went on to praise Singapore for its “very draconian” approach to the drug war:.....Full story

Singapore private resale home prices remain flat

Malaysia Star, 30 Nov 2011
SINGAPORE: Resale prices of private homes rose a touch last month, reversing a slight dip in September, but the overall trend suggests a period of flat values.
The new Singapore Residential Price Index (SRPI) flash figures out yesterday showed that prices rose 0.9% last month, rallying from a 0.1% dip in September. Full story

Nano-sized chemical in sunscreen, cosmetics could cause cancer, say Singapore scientists

Yahoo! Singapore News, 29 Nov 2011
Companies in the cosmetics and sunscreen industry may need to rethink the use of nano-sized zinc oxide in their products, warned a group of scientists on Tuesday.
Preliminary research has found that the chemical, when used in its tiniest form, could enter human cells, damage the cell’s DNA and cause cancer, according to researchers from the Nanyang Technological University (NTU) and National University of Singapore (NUS). Full story

CapitaLand, Temasek unit in $3.3 bln west China development

Reuters, 29 Nov 2011
The Singapore-led group that won a tender for a large site in the western Chinese city of Chongqing will spend a total of 21.1 billion yuan ($3.31 billion) on what it hopes will become one of the most prominent projects in China, lead developer CapitaLand Ltd said on Tuesday.
Capitaland and CapitaMalls will each take 25 percent of the river-front project, while Singbridge Holdings, a unit of Singapore state investor Temasek will hold 30 percent. Full story

Related:
CapitaLand joint venture wins large China land bid - MarketWatch

Former chief minister: Son had worked in Singapore PM's office before joining family business

Khaleej Times Online, 30 Nov 2011
Seeking to shoot down the allegation raised by Vijayamma in her petition that disgraced Satyam founder Ramalinga Raju had funded his son N Lokesh’s education in the US, Naidu wondered if universities in the US sold seats for money and whether they needed donations. Besides, he also pointed out that Lokesh had worked in World Bank, GE, Mercedes Benz and in the Singapore Prime Minister’s Office before joining the family business back
home. Full story

SlutWalk organisers fight against need for police permit

Yahoo! Singapore News, 30 Nov 2011
They may have been given a police permit, but Singapore’s SlutWalk organisers are now fighting to not have to use it.
“No one (who has organised similar events in the past) has had to apply for a police permit before, and we feel it’s important to not set a precedent for other events in the future to do this as well,” one of the organizers Cher Tan, 24, told Yahoo! Singapore on Tuesday evening. Full story

Related:
Singapore allows SlutWalk - news24
Protest-averse Singapore allows 'SlutWalk' - Times of oman

Singapore Output Price Inflation Rises In October

RTTNews, 29 Nov 2011
(RTTNews) - Singapore's producer price inflation accelerated notably in October, data released by the Department of Statistics showed Tuesday.
Output prices of manufactured products rose 9.1 percent on an annual basis in October, sharply faster than September's 7.3 percent increase. Prices of oil products climbed 29.6 percent annually, while output prices of non-oil products advanced 2.1 percent. Full story

Hundreds of Indonesian workers block tin shipment to Singapore

Steel Guru, 29 Nov 2011
Reuters reported that hundreds of smelter workers on Indonesia's Bangka Island thwarted an attempt by tin producer PT Koba Tin to export 400 tonnes of ingot to Singapore as they sought to enforce a self imposed industry shipping stoppage.
Smelters in the region stopped shipments from October 1st 2011 in an effort to push benchmark tin prices above USD 23,000 per tonne. Full story

Pinoy-led Changi Group team checks on NAIA facilities

Malaya.com.ph, 29 Nov 2011
A six-member team from the Changi Airport Group (CAG) which arrived yesterday to look into the problems of the 30-year-old Ninoy Aquino International Airport Terminal 1 were surprised to breeze through immigration and customs in just 25 minutes. Full story

Ex-Minister Raymond Lim joins Swire as "senior advisor"

Reuters, 28 Nov 2011
Nov 28 (Reuters) - The Singapore arm of the parent company of the Swire conglomerate said Monday that it has added former Singapore minister Raymond Lim as a senior adviser. Full story

PAP Government in state of denial - Inderjit Singh

inSing.com, 28 Nov 2011
Another highlight of the convention saw Member of Parliament (MP) Inderjit Singh, talking about how the PAP "got carried away" with policies that had good intentions, but did not improve lives of the Singaporeans "as much as we thought they did."
The MP stated that housing and economic growth policies were mishandled by the PAP.
He lamented that the government appeared to be "in a state of denial" and was simply quoting statistics to show that housing remains affordable and sufficient. Full story

Lee Kuan Yew launches fund to promote bilingualism

Xinhua, 28 Nov 2011
SINGAPORE, Nov. 28 (Xinhua) -- Singapore's former Prime Minister Lee Kuan Yew announced a fund to promote bilingualism on Monday.
The establishment of the fund was announced at the launch of a new book by Lee entitled My Lifelong Challenge: Singapore's Bilingual Journey. Lee will donate 10 million Singapore dollars to the fund, with another 2 million Singapore dollars from the sale of special editions of his new book. Full story

Related:
Kuan Yew Proposes Setting Up Fund To Boost Bilingual Education - Bernama.com

Singapore’s MAS Faces Price Stability Challenge, Lee Says

Bloomberg
The Monetary Authority of Singapore, the city state’s central bank, faces the challenge of maintaining price stability amid a more volatile global environment, Prime Minister Lee Hsien Loong said.
“Because of the economic and political uncertainties in the EU and U.S., and the worries over global deleveraging and rebalancing, financial markets and capital flows will continue to be volatile, and asset price inflation will remain a risk,"...Full story

Related:
Singapore Prime Minister Underlines Four Challenges For A Brighter Future - Bernama.com

Numerous spas in very shaky financial shape: CASE

Yahoo! Singapore News, 28 Nov 2011
In implementing the CaseTrust spa protection scheme, which kicked in on 1 October, CASE said in a statement that it discovered that some spas collecting pre-payments from consumers are in "very shaky financial positions and are also engaging in questionable financial practices".
It said one spa service provider was operating at an expected annual loss of nearly $1 million, and yet its directors were borrowing $1.6 million from the company for personal use. Full story

S'pore actress Janice Koh steps forward for NMP position

Yahoo! Singapore News, 28 Nov 2011
Singapore actress Janice Koh has put herself forward as a possible nominated Member of Parliament (NMP).
Announcing her decision to do so on Facebook on Sunday afternoon, Koh said she is responding to the need for nominees to step up ahead of the 8 December deadline, when nominations from members of the public close. Full story

Lee Hsien Loong promises "a new PAP" for Singapore

Yahoo! Singapore News, 28 Nov 2011
The People’s Action Party (PAP) will work differently as Singapore enters a new phase, said Prime Minister Lee Hsien Loong on Sunday, when he bared the party’s plans to transform itself following a watershed general election.
Pledging a “new PAP for a new era” in his speech during the ruling party’s convention, the PAP secretary-general pointed out that members must fight to win in every constituency and future elections would be tougher contests. Full story

Related:
Singapore PM Pledges Changes to Ruling Party - CRIEnglish.com
PAP must do more to connect with voters: Khaw - Yahoo! Singapore News

SAF leaves Rockhampton

The Morning Bulletin, 28 Nov 2011
Its cavernous innards crammed with five helicopters, the world's largest commercial airliner was due to leave Rockhampton before dawn today to mark the end of another lucrative visit by Singapore's armed forces.
During the 65-day exercise based in Shoalwater Bay's military training area, 5000 Singaporean army and air force personnel have trooped through Rockhampton. Full story

OPINION: Did this Singapore's Mediacorp kung fu show crib the intro from Game of Thrones?

io9.com
The ever-evolving, Emmy Award-winning Game of Thrones title sequence impressed viewers with its clockwork globe of Westeros. It apparently also made an impression on the creators of a Singaporean kung fu drama set in the 1960s.
Singaporean tipster Colin has brought to our attention Code of Honor, a TV show on the Mediacorp channel that utilizes a Throney design for its own promo materials. Should this be more than an accident, the Game of Thrones writers should return the favor and pen several new scenes of Joffrey getting drop-kicked on his sassy cheeks. Link

Southeast Asian Nations Look at Nuclear Power

NYTimes.com, 27 Nov 2011
In Southeast Asia, where there is no working nuclear power plant, six countries have expressed interest in nuclear power or are considering it as an option.
By 2020, Vietnam will probably be the first country in the region with a nuclear power plant. The government recently reconfirmed its commitment to open a nuclear power plant in Ninh Thuan Province built by the Russian company Atomstroyexport and using two VVER-1000 or -1200 reactors. Full story

OPINION: YPAP rally at Speakers' Corner. Better to use the phone - Dr Vincent Wijeysingha

Singapore Democrats, 28 Nov 2011
As is typical for public services, a tightly-knit network of agencies and officers control the various agencies that provide public amenities. The table below provides a limited list of the many men and women to whom YPAP could have made their case. Many of them are either directly employed by the government or members of the PAP.
Public advocacy in Singapore has typically fallen on deaf Government ears, and in recent years the authorities have moved to clamp down on rallies, demonstrations and protests of various kinds. Full story

Lim Hng Kiang: Malaysia, Singapore should tap each other’s advantages

Malaysia Star, 28 Nov 2011
SINGAPORE: Singapore's Trade and Industry Minister Lim Hng Kiang has urged Malaysia and Singapore to capitalise on each other's comparative advantages to brave the global economic volatilities ahead.
Lim also encouraged businesses in Singapore to leverage their expertise with Malaysian companies by integrating business or manufacturing processes across the borders. Full story

Singapore commemorates philanthropist Tan Kah Kee

Xinhua, 26 Nov 2011
SINGAPORE, Nov. 26 (Xinhua) -- Hundreds of people attended a seminar in Singapore on Saturday to commemorate the 50th anniversary of the death of Tan Kah Kee, a well-known philanthropist and entrepreneur who has had a lasting legacy in both southeast Asia and China.
The seminar was held at the Hwa Chong Institution, one of the schools founded by Tan himself during his lifelong donation to the education causes. It gathered scholars, government officials, some of his descendants as well as other guests from Singapore, Malaysia and China. Full story

Singapore Provides Humanitarian Assistance To Thailand

Bernama.com, 26 Nov 2011
SINGAPORE, Nov 26 (Bernama) -- The Singapore Government has responded to a request from Thailand's Metropolitan Water Authority (MWA) to ensure the quality of water supply in Bangkok and its vicinity, which has been affected by the recent floods in Thailand. Full story

'Stop bullying MP Baey Yam Keng" online movement flopped

inSing.com, 27 Nov 2011
A netizen recently started a movement called "Stop bullying MP Baey Yam Keng".
This comes after Member of Parliament (MP) Baey came under fire for raising a "liberal" question in parliament.
However, support for the "movement" appears to be mixed, with only some netizens voicing support.
If anything, the "movement" only appears to have attracted more heated discussion and even criticism for the MP. Full story

OPINION: Casino resorts? Braman says don’t buy the hype

MiamiHerald.com, 26 Nov 2011
When casino supporters speak about jobs, they fail to state that the average salary of these “thousands of jobs” (many of which would be transferred to Miami from their other casinos) would average $33,000 a year, as Genting’s President Colin Au told me. That is hardly enough to buy a home or educate one’s children. This is not to denigrate our hard-working residents or any job. I know how tough times can create difficulties for our people. I merely seek to compare businesses and the potential futures they offer. Research has shown that more local businesses and jobs are lost to a community as a result of destination resort casinos than are created. Full story

Trainee doctors complain about working conditions

inSing.com, 26 Nov 2011
A young doctor recently complained on Facebook that despite four years of work, his salary remains less than $4,000.
In his comment, he asked, "May I know why no one has gone on strike yet?"
Reporters spoke to one trainee doctor about such a phenomenon in Singapore.
The trainee doctor, known as a "houseman", explained how doctors are trained here. Full story

Singaporean art dealer brings Zen to HCM City

VietNamNet Bridge, 26 Nov 2011
Bee Chua is a Singaporean woman who has been living in HCM City for more than 20 years.
Her most interesting experiences are from motorcycle trips on mud tracks and visits she made to villages in the Central Highlands well before they become too touristy.
She has friends in unusual places – like traders at Binh Tay Market in District 6 and street vendors and shoeshine boys. Full story

OPINION: Singapore would also need to put up a bust to honour PV Narashimha Rao

Dailypioneer.com, 26 Nov 2011
In September 1993, a delegation of Indian CEOs visited Singapore. Among other appointments, it was expected to get 30 minutes with the then Prime Minister, Mr Goh Chok Tong. The meeting went on for 90 minutes. Mr Goh invited the CEOs for dinner that very evening and thus started what came to be called Singapore’s ‘India fever’. Exactly a year later, Narasimha Rao, then Prime Minister, went to Singapore and announced India’s ‘Look East’ policy — furthering relations with South-East Asia and Asia-Pacific.
That’s why, someday soon enough, Singapore would need to put up a bust or a statue or even a memorial plaque to honour Narasimha Rao. Full story

OPINION: Preparing for the global crunch - Seah Chiang Nee

Malaysia Star, 26 Nov 2011
The coming economic slowdown will likely hit Singapore harder than its South-East Asian neighbours. The real test is not whether the government can eventually restore economic health, but how badly Singaporean assets and jobs will be affected by the recession.
With the approach of the new year, middle class Singapore is becoming increasingly nervous about what is coming around the corner. Full story

OPINION: The Rich Get Richer Off the Backs of the Poor - John Berthelsen

Asia Sentinel, 25 Nov 2011
With a flood of money behind them, the big banks got into commodities ownership in a big way. Goldman, Bjerga noted, created a global network of warehouses to hold aluminum. Morgan Stanley began chartering more oil tankers than Chevron Oil. JP Morgan hired a supertanker to store heating oil off Malta.
Ultimately, investment in the indexes tied to commodity prices -- energy, good and metals -- by early 2011were 55 times larger than in 2000, directly connecting rich-world investors to volatile food costs, Bjerga continued. While certainly there are other factors at work, this chart clearly shows the influence of the index funds. Full story

Singapore launches online poll on expansion of smoking ban

Philstar.com, 26 Nov 2011
SINGAPORE (Xinhua) -- The National Environment Agency of Singapore and the Health Promotion Board launched an online survey on Friday to gather feedback on extending the list of places covered by a smoking ban.
The poll will ask if smoking corners in places such as hawker centers and entertainment outlets should be removed. Beaches and parks are also among the places likely to be covered the smoking ban. Full story

Fears over council risking British taxpayers' money investing with OCBC

Weston Mercury, 26 Nov 2011
AFTER ongoing legal disputes over North Somerset Council’s investment in an Icelandic bank, a councillor has spoken of the risks which more overseas investment may pose to taxpayers’ money.
As of September 30, the council had £58.2million invested in banks, deposits and government bonds, according to the treasury management report, which was recently considered by the council’s executive.
Now the council has confirmed it 
will invest £3million with the Overseas Chinese Banking Corporation, in Singapore. Full story

Chan Chun Sing: Casinos are meant to be tourist products

Bernama.com, 25 Nov 2011
SINGAPORE, Nov 25 (Bernama) -- Singapore's Ministry of Community Development, Youth and Sports and the Casino Regulatory Authority have tightened the Casino Control Advertising Regulations (CCAR) to ensure that the casinos here do not target the domestic market.
"The casinos are meant to be tourist products and should remain so. We are prepared to strengthen social safeguards as and when necessary to ensure that there is no targeting of our domestic market," Acting Minister for the ministry Chan Chun Sing said in a statement. Full story

Related:
Singapore: Stricter advertising guidelines for casinos - Asian Correspondent
Singapore tightens advertising guidelines for casinos - Xinhua

Grace Fu: S'pore close cultural links with China helps improve business ties

EastDay, 26 Nov 2011
SINGAPORE'S close cultural links with China can help shorten the time and improve the effort needed to engage in each other's business endeavors, senior officials from Singapore said in Shanghai yesterday, hoping the two countries can foster closer business ties to accelerate prosperity in Asia.
"Tapping into our common culture and historical background is something that multi-racial Singapore is well placed to do," Grace Fu, .... Full story

OPINION: The showdown: Singapore vs. Kuala Lumpur - Kate Hodal

CNNGo.com, 26 Nov 2011
Just like all the greats -- Athens and Rome, London and New York, Paris and Berlin -- Singapore and Kuala Lumpur have had to endure a long-standing rivalry over which city does what best.
But for two capitals whose cultural similarities can sometimes outweigh their differences, finding a true winner in the great debate can prove difficult ... Full story

A rather depressing summary of bad bonuses forecasts in Singapore, Shanghai and Hong Kong

eFinancialCareers.sg, 25 Nov 2011
Singapore - Angela Kuek, head of front-office banking and financial services, Hudson, predicts a “significant decline” in bonus payments. “Last year top performers got 75 to 100 per cent on their base salary and average performers got a bonus of a couple of months. This year average performers will either get zero bonuses or be told to go. Anything from 50 per cent on base salary and above will be considered above average.” Full story

Acer to raise prices of new notebooks

CNet Asia, 25 Nov 2011
According to a Digitimes report, Acer intends to raise prices for new notebooks manufactured in December. This is due the tight supply of hard drives caused by the floods in Thailand. Acer's hard drive inventory is likely to be depleted by the end of this month and new drives will cost more. The same report also quoted Asus' vice chairman as saying that his company will have to raise prices, too. Full story

Singapore citizen nabbed for gold smuggling at Manas international airport in Kyrgyzstan

eng.24.kg, 25 Nov 2011
In Kyrgyzstan, a citizen was nabbed for gold smuggling at Manas international airport. This was reported by the State Customs Service.
According to the Service, this morning officers of Manas Customs detained a citizen of Singapore. She was nabbed for attempting to smuggle powder-like gold weighing 200 gramme when registering for Bishkek-Urumqi flight.
To date the investigation is launched and necessary expert examinations are carried out. Link

Singapore Police: Facebook presence helps solve crime

FutureGov, 25 Nov 2011
The Singapore Police Force (SPF) has made its first “Facebook arrest” after a netizen responded to SPF’s appeal for information on its Facebook page about an unsolved crime.
Photos
On 11 November 2011, a member of the public called the police hotline, saying he culd identify the loan shark suspect from a photo posted on the SPF Facebook page .... Full story

Purchase demand for Singapore private homes fall

Asia Property Report, 25 Nov 2011
According to DTZ Research’s latest research report, purchase demand of private homes fell in Q3 2011, as global uncertainties and volatility in the stock markets affected purchase sentiment. Transactions of private homes, proxied by caveats, fell 24.5 per cent quarter-on-quarter (QOQ) to 6,879 units in Q3 2011, as sales volumes fell for both primary and secondary sales. Full story

Singapore's factory output grows on surge in pharmaceuticals

Monsters and Critics, 25 Nov 2011
Singapore - Singapore's factory output surged in October as production of pharmaceuticals more than doubled, the government said Friday.
Manufacturing, which accounts for about a quarter of the city-state's economy, jumped 24.4 per cent year-on-year in October, after a revised 11.3-per-cent rise in September, the Economic Development Board said. Full story

Related:
Singapore Manufacturing Output In October Up 24.4 Percent Year-On-Year - Bernama.com
Singapore Oct. Industrial Output Growth Picks Up - Nasdaq

Singapore diplomatic staff held meeting with India opposition party leader ahead of election

Daijiworld.com, 24 Nov 2011
Leader of opposition and Samajwadi Party (SP) leader Shivpal Yadav held a courtesy meeting with diplomatic staff of Singapore at party headquarters on Wednesday.
The delegation comprised of Minister Counsellor Johnthan Taa and First Political Secretary Adrain Lee. Both of them listened to the SP leader who used the chance to highlight the misdeeds of Mayawati regime.
Later, SP official spokesperson, Rajendra Choudhary claimed that the Singaporean delegation was convinced and has given their good wishes for the electon and assured to return for next meeting after 2012 elections. Full story