Japan may see refining shake-up
(TOKYO) Japan’s new rule to boost capacity to process heavy oil represents a subtle policy change that industry sources say may shake up its overcrowded refining industry and prompt the exit of top foreign investor ExxonMobil.
Brewers keen to capitalise on Vietnam’s beer market
(DANANG, Vietnam) Vietnam’s thirst for beer is hard to quench, and a new production line with a capacity for 50,000 bottles an hour is the latest industry attempt to target one of the region’s key markets.
Airbus: A350 delivery schedule is ‘comfortable’
(BERLIN) Airbus SAS said it’s ‘very comfortable’ with its delivery schedule for the new A350 plane, responding to an article in Les Echos newspaper that the widebody model will get off to a slower start than planned.
Airline suspends crew for safety lapse
(LONDON) The crew of Jet Airways (India) Ltd’s flight 9W2302 from Mumbai to Chennai on Friday was suspended for ‘serious procedural lapses’ in the evacuation of the plane, India’s Directorate-General of Civil Aviation (DGCA) said.
PCs fuel sales of consumer electronics
CONSUMER electronics demand is alive and well in Singapore, bucking a global downward trend, according to market research company GfK.
US retailers venture into mobile shopping
(WASHINGTON) Back-to- school shopping deals are just a text message away this year as US retailers wade into the brave new world of mobile commerce.
Record server sales in Q2 confirm recovery is real
IF you think the uptick in the global economy is just limited to consumer electronics, think again.
New technology expected to spur smart card use: Frost
SINGAPORE is expected to see a healthy growth in the number of transactions taking place by means of contactless smart cards, especially with the advance of NFC (Near Field Communication) technology.
Tackling hi-fi market customer renewal
THE early days of the MP3 revolution in the late 1990s seemed to ring the death knell for the hi-fi industry. The proliferation of abysmally low-quality digital files rendered discussions of audio quality pointless – it’s hard to market the detail and dynamics of high-end hi-fi when customers don’t have music media that can show off those abilities. But the hi-fi market didn’t die. Some smaller brands disappeared but many other persevered, driven by older customers who hadn’t discovered the wonders of the Internet.
HP’s bid superior to Dell’s: 3PAR
(WASHINGTON) Data storage firm 3PAR said on Saturday that a newly-raised acquisition offer by Hewlett-Packard was ‘superior’ to that made by Dell, amid a bidding war between the PC giants.
Europe’s best-kept secret
WHAT do brands like H&M, Bang & Olufsen, and IKEA have in common? Ever wondered where these companies originated from? A good number of outstanding global enterprises started in a beautiful region, filled with innovation and creativity. We call it ‘Europe’s best-kept secret’. And that place is none other than Scandinavia.
Be smart with your finances
FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on.
Not just a pretty face(book)
E-MAILS are old hat; SMSes passe. Tweeting, blogging, and posting on ‘walls’ are no longer the domain of the under-30s. They have become a staple of the way most people in the world communicate today, and of the way Fortune 100 companies reach out to customers old and new too.
Wen urges Japanese firms to raise wages
(BEIJING) Chinese Premier Wen Jiabao yesterday urged Japanese companies operating in China to raise workers’ wages, after a series of strikes led to costly factory shutdowns, Japan’s foreign ministry said.
China defends curbs on exports of rare earth
(BEIJING) China defended its controls on exports of rare earth after Japanese officials raised concerns about supplies of the raw materials used in the manufacture of products from cell phones to radar.
Report environmental, social risks, firms told
LISTED companies have been prompted by the Singapore Exchange (SGX) to manage and declare business risks linked to environmental and social issues.
Keppel breaks ground on UK plant
KEPPEL Corporation broke ground for its $518 million energy-from-waste (EFW) plant in the UK – one of the largest such projects there – last Thursday.
1 in 2 IPOs to be foreign
THE Singapore Exchange (SGX) expects to see more than half of its initial public offerings (IPOs) over the next year to be foreign listings, chief executive Magnus Bocker said on Saturday.
Transcu’s fortunes set to turn around
TRANSCU Group’s Japan-based skincare cosmetics unit has significantly ramped up sales through Japanese multi-brand stores. Meanwhile, its life sciences unit is in final negotiation with a Japanese pharmaceutical company to develop a new trans-dermal drug delivery device for the global market using Transcu’s proprietary system.
At a glance
Hapless Japan needs help to weaken yen
(LONDON) Any effort by Japan to weaken the yen after it rallied to a 15-year high may fail without help from the US and the European Union, currency strategists say.
Europe bordering on self-sustaining recovery: ECB
(FRANKFURT) Europe is on the brink of a self-sustaining recovery, European Central Bank governing council member Axel Weber said.
Hungary told to stick with budget cuts, narrow gap
(BUDAPEST) Hungary should continue fiscal consolidation and bring its budget gap to below 3 per cent of gross domestic product (GDP) next year under the European Union’s (EU) Excessive Deficit Procedure, Olli Rehn, the EU’s economic and monetary affairs commissioner, said.
Will India pull the plug on BlackBerry after all?
(NEW DELHI) India’s BlackBerry users are holding their breath as they wait to see if the government carries out a threat this week to ban encrypted messages sent on the phones due to fears of misuse by militants.
India urged to ‘pray’ for completion of Games
(NEW DELHI) New Delhi’s top official has urged Indians to ‘pray’ for the city’s Commonwealth Games sporting venues to be completed on time, after massive delays in construction threatened the Oct 3 start.
Thousands flee as volcano erupts in Indonesia
(JAKARTA) A volcano on the Indonesian island of Sumatra erupted for the first time in 400 years yesterday, spewing a vast cloud of smoke and ash into the air and sending thousands of people fleeing from their homes.
‘Terminator’ mozzies to fight dengue?
(KUALA LUMPUR) Malaysia is considering releasing genetically modified (GM) mosquitoes designed to combat dengue fever, in a landmark field trial that has come in for criticism from environmentalists.
Sime ol’ story all over again
ALAS, poor Sime Darby. When Sime, Guthrie and Golden Hope merged three years ago to create the world’s largest listed oil palm company, there was expectation amongst shareholders that the synergies inherent in such a merger would far outweigh any downside.
India aims to triple port capacity
(MUMBAI) India, Asia’s third-biggest economy, plans to triple port capacity within a decade, as it tackles infrastructure deficiencies that threaten to dampen growth.
Of known knowns and known unknowns
US unemployment remains stubbornly high, manufacturing is slowing, exports are down and consumer confidence is weak. Yet Wall Street finished the week with a bang on Friday.
Bankruptcies down in H1
THE number of applications for personal bankruptcy here – and the number of bankruptcy orders made – fell in the first six months of this year, an indication that the swift economic recovery may have saved many from insolvency.
Big voices and even bigger hearts despite their tender years
AT age 12, Nathania Ong is already a seasoned performer, having sung on numerous occasions and at public venues. Her most recent gig was to sing the National Anthem at the closing ceremony for the Youth Olympic Games.
Three-Minute Digest
THE government will take further action to cool the property market and curb speculation in the resale market for HDB flats, including building 22,000 new public homes this year, Prime Minister Lee Hsien Loong said last night.
Another dousing to cool property market
(SINGAPORE) The government will take further action to cool the property market and curb speculation in the resale market for HDB flats, including building 22,000 new public homes next year – up from 16,000 this year, Prime Minister Lee Hsien Loong said last night.
PM Lee spells out the ‘foreigner’ conundrum
(SINGAPORE) The economy may be bouncing back strongly – with year-on- year growth of 18 per cent in the first half and 13-15 per cent tipped for the full year – but the issue of foreign workers still looms large, if not larger.
Black September lurks, mood darkens
THE onset of hurricane season for the United States has yet to erupt in a major storm thus far this summer. The same could be said for the increasingly nervous US stock market, which has taken some hits in August but has merely slipped rather than fallen under the weight of a slowing global economy and the threat of a double-dip recession in the US.
HK protesters call for probe by Philippines
(HONG KONG) Tens of thousands of Hong Kong citizens marched peacefully yesterday to demand a transparent investigation into the deaths of eight of the city’s residents in a tour-bus siege in Manila. The protest attracted 80,000 participants, said one of the organisers, Tam Yiu Chung, who chairs local political party the Democratic Alliance for the Betterment and Progress of Hong Kong.
Higher dividends follow firms’ return to health
(SINGAPORE) There were few surprises from companies that reported full-year results in the recent reporting season. Most turned in better earnings or lower losses, in line with the global economic recovery.
Coming soon: third medical school and uni town in Oxbridge mould
(SINGAPORE) Singapore will soon have a third medical school and an Oxbridge-style collegiate university town, Prime Minister Lee Hsien Loong said during his National Day Rally speech last night.
Keppel built the ‘right’ rig in Gulf of Mexico
(SINGAPORE) Keppel Corporation did not build the oil rig that exploded, sank and caused a major oil spill in the Gulf of Mexico that damaged marine and wildlife habitats as well as the Gulf’s fishing and tourism industries.
Big drive to ease pressure on trains
(SINGAPORE) The government will spend some $60 billion over the next decade to double Singapore’s rail network and will add more trains to ease overcrowding, Prime Minister Lee Hsien Loong said yesterday.
Spotting the winners
From your understanding of recent developments and likely future scenarios, what are the greatest opportunities for retail investors today, particularly in Singapore and the region? Why?
Dive in director trades after two weeks of heavy activity
TRADING among directors plunged after heavy activity for two straight weeks, with only 20 companies that recorded 46 transactions worth $9.1 million, based on filings on the Singapore Exchange from Aug 23 to 27. The figures were sharply down from the previous week’s 38 companies, 53 transactions, and $18.3 million. Buyers outweighed sellers with 17 companies that posted 43 purchases worth $8.4 million versus a paltry three firms with three disposals worth $680,000.
Portfolios shed 1.3% on average
WORRIES about the economy continue to weigh stocks down. Five out of six of our portfolios retreated. On average, the portfolios were down by 1.3 per cent. This compared with the flat performance of the Straits Times Index.
Dollar drops against yen for 2nd week on US economic fears
(NEW YORK) The dollar fell for a second week against the yen after reports showed the recovery in the world’s largest economy may be faltering, boosting the Japanese currency’s attraction as a refuge.
Gold futures a hedge against uncertainties
GOLD futures have long been considered an ideal hedging instrument for various reasons. Setting the benchmark price for gold, these markets are where traders, commercial interests, banks and others turn to for price discovery, to lock in gold prices or to benefit from price volatility.
Hamilton wins thrilling Belgian Grand Prix
(SPA-FRANCORCHAMPS, Belgium) McLaren’s Lewis Hamilton won a chaotic and thrilling Belgian Grand Prix to seize back the Formula One championship lead from Red Bull’s Mark Webber yesterday.
MTV success makes Viacom a hot property
(NEW YORK) Viacom Inc’s Philippe Dauman, a cultured media chief who scored perfect results on his college entrance exam and entered Yale at 16, happens to be an ardent fan of sensational TV shows.
The uncomfortable math of monetary policy
(JACKSON HOLE, USA) Bigger, as the Federal Reserve may soon discover, is not always better.
Monetary jolts needed to sustain rebound: BOE
(JACKSON HOLE) Bank of England deputy governor Charles Bean said that more monetary stimulus may be required to sustain the recovery as the aftermath of the recession continues to hamper the economy.
Fiscal ‘alchemy’ must mimic monetary science: paper
(JACKSON HOLE) Tax and budget policies need the same regularity and independence as monetary policy if countries around the world are to cope with looming stresses from pension programmes, world central bankers were told at a Federal Reserve conference on Saturday.
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