Study examines impact of ash on jet engines
(BRUSSELS) A major US jet engine maker says it will investigate the effects of volcanic ash on the engines of aircraft that have flown through the plume.
BA cabin crew launch new 5-day strike
(LONDON) British Airways cabin crew launched a new five-day strike yesterday, as a bitter dispute with management over pay and working conditions drags on with little sign of a breakthrough.
Can Microsoft survive?
THERE’S a relaxed buzz in the large meeting room at the Marina Bay Sands Convention Centre, where over 100 business leaders are gathered for a breakfast dialogue with Microsoft CEO Steve Ballmer.
Clouds of competitors
MICROSOFT CEO Steve Ballmer is, in his words, ‘literally . . . betting the company’ on the success of its still-nascent cloud computing strategy.
SMBs show interest in Cloud computing
DESPITE the media blitz surrounding it, Cloud computing is still something that most Singapore SMBs (small and medium-sized businesses) are a bit wary about, even though it could drastically reduce their IT costs.
Technology companies fear rising protectionism
WITH protectionism and cost pressures on the rise, technology companies in Singapore need to balance both long-term and short-term plans in order to continue with their globalisation efforts, according to PricewaterhouseCoopers (PwC).
Singapore gets ready for advanced wireless tech
SINGAPORE is creating a conducive infocomm environment to capitalise on the rapidly evolving technology in mobile broadband, encompassing futuristic areas such as femtocells, long-term evolution (LTE) telephony, and machine-to-machine (M2M) communications.
Singapore to lead South-east Asia in wireless tech: IDC
SINGAPORE will lead the South-east Asia region in LTE (Long Term Evolution) and mobile WiMax adoption, since 3G and 3.5G penetration in Singapore is far higher than in other countries in the South-east Asian (SEA) region, according to research house IDC Corp.
Make that solid connection with China
IT WAS my ninth time flying to mainland China and the fifth time I was landing at Shanghai Pudong International Airport, in just three years.
Be smart with your finances
FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on.
Combining capitalism with altruism
CAN business and philanthropy mix? According to the founder of the luxury Banyan Tree hotel group, Ho Kwon Ping, this oft-asked question needs some serious re-examining.
Wage demand stirs fears of labour unrest in China
(FOSHAN, China) Add another entry to the list of worries for the global economy and financial markets: labour unrest in China.
Boeing finds biggest customer in China
(CHICAGO) Explosive economic growth in China and massive government investment in its transportation systems will generate thousands of airplane orders for Boeing Co, but also may expose the company to new competition and an overheated economy.
Bank of China to sell 40b yuan of bonds
(SHANGHAI) Bank of China Ltd, the nation’s third-largest lender by market value, plans to raise 40 billion yuan (S$8.2 billion) selling convertible bonds this week to replenish capital.
Ban Joo chalks up 18-month profit of $3m
AFTER four consecutive financial years of losses, former textile company Ban Joo, now reincarnated as a regional telecommunications player, has finally turned around with a net profit of $3 million for the 18 months ended March 31, 2010.
Ads can only be as good as the product: TBWA
HOW does one go about restoring the image of a bank after the financial crisis of 2008?
DBS should just sell IB Asia
TWELVE months ago, Singapore hosted the 6th Islamic Financial Services Board (IFSB) Summit, the first time the annual event that discusses key issues and developments in the regulation and supervision of Islamic financial services was held in East Asia.
UAE growth to reach 3.2% in ’10
(DUBAI) The United Arab Emirates’ economic growth is expected to accelerate to up to 3.2 per cent this year and no further major restructuring of Dubai debt is seen, the Gulf country’s economy minister said on Saturday.
Latin America eyes economic growth ahead
(LIMA) Latin American countries are entering a period of robust economic growth but should exercise caution if they decide to remove fiscal stimulus given uncertainty in the global economy, finance ministers said on Friday.
Corporate Japan’s capital spending to bounce back: survey
(TOKYO) Capital spending by big Japanese companies is set to rise for the first time in three years as auto and electronics makers invest more abroad, a survey said yesterday.
UK at risk of double dip: business group
(LONDON) Britain faces the risk of a double-dip recession and the government should hold off making big spending cuts until the recovery is assured, according to the British Chambers of Commerce (BCC).
Mahindra submits letter of intent for Ssangyong Motor
(MUMBAI) Mahindra & Mahindra, India’s top utility vehicle and tractor maker, said on Saturday that it had submitted a letter of intent to make a bid for troubled Korean SUV maker Ssangyong Motor, but declined to comment on how much it was willing to pay.
India stays on privatisation path
(NEW DELHI) Volatile stock markets have not changed India’s plans to sell stakes in state-run companies, a senior finance ministry official told Reuters last Friday.
India May gold imports fall 39% to 17-18 tonnes
(NEW DELHI) India’s gold imports fell an annual 39 per cent in May, as record prices hit demand in the world’s top consumer at a time when sales were expected to rise because of a Hindu festival.
New Indonesian central bank chief
(JAKARTA) Indonesia’s president will soon nominate a new central bank governor, an official said on Saturday, filling a post which has been vacant for a year and which is expected to go to the acting governor, Darmin Nasution.
M’sia sells US$1.25b sukuk, its first bond in 8 years
(HONG KONG) Malaysia sold US$1.25 billion worth of 5-year sukuk at par with a yield spread of 180 basis points over US Treasuries, marking its first global bond in eight years, a market source said last week.
M’sian opposition states ban sports betting
(KUALA LUMPUR) Malaysian opposition-led states have banned sports betting, officials said yesterday, following protests over its approval by the central government in the Muslim-majority country.
Now for slow fix after BP ‘top kill’ fails
(VENICE, Louisiana) BP plc’s ‘top kill’ oil well plug failed on Saturday, practically killing any optimism among Gulf coast residents that the mammoth spill fouling their coast and fishing industry will end any time soon.
Expect euro-related risk aversion to return
THE main question that will dominate trading this week is whether once the short-covering is completed, the shorting will resume.
Samsonite aims to stay tough – and add oomph
‘WHEN you are looking for a wife, you don’t just want a good cook; you also want her to be sexy. It’s the same thing with our product,’ says Ramesh Tainwala.
Stanchart issues 8-minute challenge
STANDARD Chartered yesterday announced a six-month initiative to serve customers at teller counters at 18 branches within eight minutes.
One millionth visitor to Singapore’s 15th reservoir
MARINA Barrage welcomed its one millionth visitor yesterday. Lee Soon Kwang and his family, on their first visit to Marina Barrage, were greeted by Senior Parliamentary Secretary for the Ministry of the Environment and Water Resources, Amy Khor and the PUB mascot Water Wally.
Where music is the appropriate language
‘He’s a famous flamenco guitarist,’ a woman confidently declared to her companion moments before Nitin Sawhney’s Acoustic Evening started on Friday night at the Esplanade Concert Hall.
A slick production with Asian horror movie overtones
IN Shakespeare’s tragedy Macbeth, Lady Macbeth makes her appearance only towards the end of scene five of the first act, when she learns in a letter sent by her husband that three witches have prophesied his future as king.
Spain’s Socialist govt losing political power
(MADRID) Spain’s Socialist government is seeing its political power erode as it struggles to chart a path out of deep financial trouble – and far more problems lie ahead as Prime Minister Jose Luis Rodriguez Zapatero seeks to reform the country’s labour market.
Greece will not restructure its debt, says finance minister
(ATHENS) Greece will not restructure its debt and will not need more cuts to achieve fiscal targets set in the emergency funding programme it agreed with the European Union and the IMF, its finance minister told a Sunday paper.
Competition panel looks into Pru-AIA deal
(SINGAPORE) Amid price renegotiations and investor concerns, the proposed merger between Prudential and AIA faces one more hurdle. Its architects must satisfy Singapore that it will not affect competitiveness within the industry.
Buying buzz with a twist at Shanghai Expo
THE World Expo in Shanghai – acknowledged as the biggest ever – is certainly living up to the hype. The cash registers are ringing without pause and the buzz is unmistakeable.
Analysts harbour fresh hopes for new month after a dismal May
YOU have to go back to 1962 to find a worse May. But as it draws to a close, US stock market strategists have begun talking hopefully of the coming month, and how US economic news and corporate earnings may put the recovery back on track.
NEL audit panel tells its side of the story
(SINGAPORE) NEL Group’s audit committee yesterday came out with its side of the story, after the Singapore Exchange dealt both the company and directors a sharp reprimand last week.
UK minister Laws quits over expenses
(LONDON) British treasury minister David Laws, a key architect of plans to rein in a gaping budget deficit, resigned on Saturday after revelations about his expenses, dealing a blow to the new coalition government.
The Minton sells 180 units over weekend
(SINGAPORE) In a widely watched property release, developer Kheng Leong had sold about 180 units of The Minton condo in Hougang as of 6 pm yesterday.
Shanghai World Expo rakes in the dough
IT is no wonder why everyone wants a slice of the urban Chinese disposable income.
Annual re-election set for directors of FTSE 350 firms
(LONDON) All directors of FTSE 350 companies will have to seek annual re-election by shareholders in order to increase accountability, under new guidelines published by the Financial Reporting Council (FRC) last Friday.
When price is not a consideration
(SINGAPORE) It’s often said that prices are spoken of in hushed tones when it comes to fine jewellery. And sometimes they are not mentioned at all, for reasons like exclusivity or security.
Khazanah won’t back off in Parkway battle
ON Friday, Khazanah Nasional made a partial voluntary offer to shareholders of Parkway Holdings, seeking to raise its interest in the Singapore-listed healthcare provider to 51 per cent from its current 23.3 per cent.
AMID price renegotiations and investor concerns, the proposed merger between Prudential and AIA faces one more hurdle.
NOT to state the obvious, but I think the best business minds that Singapore has ever had the privilege to foster must belong to Minister Mentor Lee Kuan Yew and the late Dr Goh Keng Swee.
Directors’ purchases continue to be strong
THE buying among directors rose for the fourth straight week while the selling remained low based on filings on the Singapore Exchange during the holiday-shortened week of May 24 to 27.
Can gold continue to glitter?
GOLD hit an all-time high of US$1,249.40 per ounce on May 14. Since then, prices have fallen for five consecutive days to close at US$1,175.15/oz on May 21.
Asian units show biggest weekly gain in nearly 2 months
(MANILA) Asian currencies had their biggest weekly gain in almost two months as reports showed regional economies are improving and concern faded that Europe’s debt crisis will worsen.
McLaren’s Hamilton, Button hog top spots in Turkish thriller
(ISTANBUL) Lewis Hamilton led a McLaren 1-2 at the Turkish Grand Prix yesterday after a dramatic run-in between teammates Mark Webber and Sebastian Vettel denied Red Bull a sweep.
HSBC exec pay plan blasted by Standard Life
(LONDON) HSBC Holdings plc suffered the biggest vote against its executive pay awards since at least 2003 after Standard Life plc publicly opposed the report.
Lead underwriter may be chosen for GM’s IPO soon
(SOUTHFIELD, Michigan) The US Treasury and General Motors Co may choose a lead underwriter for the automaker’s initial public offering (IPO) as soon as this week, two people familiar with the matter said last Friday.
UK’s big banks to fork out more for tougher supervision
(LONDON) Britain’s big banks must dig deeper into their pockets over the coming year to pay for tougher supervision, the country’s markets watchdog said last Friday.