AMD launches new-generation chip
MORE than 35 PC models powered by AMD’s new-generation chip will descend upon the Asia-Pacific within the first half of the year.
Lenovo banks on LePad, LePhone to fend off Apple
(BEIJING) Lenovo Group Ltd, China’s biggest maker of personal computers, said that it is counting on its LePad tablet computer and LePhone smartphone to fend off Apple Inc’s expansion in the country.
Google to release tablet version of Android soon
(SAN FRANCISCO) Google Inc is getting closer to releasing a version of the Android software meant for tablet computers, one that will include a fresh look and updated Web browser and keyboard.
S’pore helping to seed ICT initiatives abroad
EVER since Singapore embarked on a unique initiative to take the lessons learnt from its forays into eGovernment and eCitizen enablement, a slew of governments from around the world are seeking Singapore’s help to get their ICT schemes up to speed in the public space.
Black Eyed Peas frontman joins Intel
(SAN FRANCISCO) Black Eyed Peas frontman will.i.am has taken a job at Intel to help innovate how music and other multimedia are used with smart phones and tablets.
Playing games can be serious business
IN an effort to promote the use of computer games not only for education but also for training in various disciplines such as financial services, the Media Development Authority of Singapore (MDA) has announced a slew of initiatives.
HP shoots vertically for the clouds
HEWLETT-PACKARD’S latest cloud strategy will focus on securing a number of showcase clients by verticals in Singapore.
Cyber attack kits becoming easier to use
A NEW study by security company Symantec shows that cyber attack kits – software used by criminals to infiltrate computers and steal data – have become more accessible and relatively easier to use.
Friendships and lessons for a lifetime
MY journey began when I was invited last July to apply to lead Ivy League university Princeton’s student-run Business Today’s 36th International Conference in New York City.
Be smart with your finances
FANCY becoming the next Warren Buffett or George Soros? Or even the famous Robert Kiyosaki? Then read on.
Generational differences at work
WHETHER we like it or not, the generation gap at work today is like a canyon. The chasm that exists is set to increase even further with the raising of the retirement age. In many workplaces, people under 30 and people over 40 often do not see eye to eye.
ICBC leads Chinese banks’ growth abroad
(BEIJING) Industrial & Commercial Bank of China, the world’s largest bank by market value, is proving to be the most aggressive Chinese bank in expanding abroad, serving Chinese firms that are increasingly active globally after the financial crisis.
US starting credit war: China firm
(BEIJING) The United States is effectively printing cheap dollars as it implements an ultra-loose policy to spur its flagging economy, setting the stage for ‘a world credit war’, a Chinese ratings agency said.
China Development Bank eyes WestLB stake
(HONG KONG) State-owned China Development Bank is among the four final bidders to buy a large stake in stricken German lender WestLB in a deal that could be valued around US$13 billion, The Wall Street Journal reported.
Rate hikes unlikely to hurt Asia stocks
RATE hikes are clouding the policy horizon across Asia, but these measures introduced by central banks shouldn’t dampen stockmarket performance, said JP Morgan’s head of Asia equity client portfolio management, Adam Matthews.
Pent-up demand pushes Rokko profit up 142%
SEMICONDUCTOR equipment maker Rokko Holdings said on Saturday that its net profit for the year ended Dec 31, 2010, grew 142 per cent to $4.3 million on pent-up demand.
Kim Eng Thai unit expects Maybank offer
(BANGKOK) Kim Eng Securities (Thailand) Pcl, Thailand’s largest brokerage, expects higher turnover on the Thai stock market to lift profits this year, when it might get a takeover offer from Malaysia’s Maybank.
Sing Hldgs adds Robin Star to adjacent properties
SING Holdings has acquired Robin Star for $47 million. The 10-unit boutique development at 10-12 Robin Road will be combined with previously-acquired Robin Court and 1 Robin Drive to make a combined site of 6,027.4 sq m.
Order book at shipbuilder JES hits US$1.6b
CHINA shipbuilding group JES International Holdings has reported that the company’s order book is now valued at about US$1.6 billion, compared with US$900 million in September last year.
GIC buys European Ireland rescue debt
THE Government of Singapore Investment Corp (GIC), a sovereign wealth fund with US$100 billion of reserves, bought some of the European debt issued to finance Ireland’s bailout, deputy chairman Tony Tan said.
At a glance
Rights issues: some points to bear in mind
AS STOCK markets are forecast to perform well this year, investors can expect more companies to raise capital via rights issues, presumably for profitable ventures that would maximise shareholder value.
Financial crises native to capitalism: analysts
(NEW YORK) The final judgment of the official inquiry into the 2008 financial crisis – that it was an avoidable disaster, brought about by regulatory neglect and Wall Street recklessness – was an admonition to the US government never to let it happen again.
Inflation cloud hangs over ECB meeting
(FRANKFURT) The European Central Bank is scheduled to meet here on Thursday to mull interest rates amid persistent inflation fears, though a landmark bond auction should let ECB policymakers breathe a little easier.
Investors drive tin to record high
(JAKARTA) Investors driving tin prices to record highs risk getting trapped in the market, notorious for its ability to turn huge paper profits into monster losses.
Russia may join WTO by end of this year: Lamy
(DAVOS, Switzerland) Russia could conclude protracted negotiations and join the World Trade Organisation (WTO) this year, director-general Pascal Lamy said.
Surge in feed costs threatens existence of EU farmers
(MADRID) Farmers across the 27-country European Union bloc say many are deeply in the red after a surge in feed costs, largely driven by bad weather and worries of food inflation, and fear herds will shrink and many farms fall into disuse in the coming months.
Foreign money in India drops by a third
(NEW DELHI) The amount of foreign money entering India has fallen by nearly a third, latest economic figures by India’s central bank show, despite scorching growth running at nearly 9 per cent. The culprits are delays in environmental clearances and land acquisition, red tape, and infrastructure bottlenecks, the central bank said.
Indian police raid Buddhist abbey
(DHARAMSHALA, India) Indian police raided the monastery of a top Buddhist monk seen as the possible next spiritual leader for Tibet and seized hundreds of thousands of dollars in cash.
Indonesia suspends import duties on rice, soybean
(JAKARTA) Indonesia will suspend import duties on rice, soybeans and wheat as part of government efforts to fight inflation and the president warned about the global risks posed by scarce resources, as countries grapple with escalating food costs.
Petronas blazes another trail
IN THE mid-1970s, big oil majors like Shell and Exxon threatened to pull out of Malaysia after national oil firm Petronas forcibly introduced production- sharing contracts (PSCs) spelling out new conditions for the majors.
Najib rolls out red carpet for Gulf investors
(ABU DHABI) Malaysia has thrown its doors wide open to potential Gulf investors, with Prime Minister Najib Razak saying that there is enormous potential in the country to forge new bonds that will be mutually beneficial.
BN retains Tenang in by-election
(KUALA LUMPUR) The ruling Barisan Nasional has retained the Tenang state seat in a by-election yesterday after its candidate Mohd Azahar Ibrahim beat the opposition Parti Islam SeMalaysia’s (PAS) Normala Sudirman with a majority of 3,707 votes. Mr Mohd Azahar polled 6,699 votes, while Ms Normala garnered 2,992 votes.
Baltic index falls 4% to two-year low
(LONDON) The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in nearly two years on Friday as the market continued to struggle with an excess of vessels.
US mulls plan to boost air cargo safety
(LONDON) The United States is in talks with its allies, airlines and maritime groups about creating a global vetting system for international cargo, Homeland Security Secretary Janet Napolitano has said.
Withdrawal of liquidity a key market factor
LAST week’s column discussed whether there was scope for contrarians in a market where everyone was singing the praises of emerging markets (EMs) and ‘buy’ was the name of the game.
Jurong Aromatics complex to start building in March
THE coming two months will see a couple of earlier-planned multi-billion dollar investments on Jurong Island finally fall into place.
5-year MOH goal to upgrade home and institutional care
HEALTHCARE at home, nursing homes and community hospitals will take centrestage for the Ministry of Health (MOH) over the next five years, says Health Minister Khaw Boon Wan.
Traditional flowers are ‘in’ this season
WHILE prices of flowers for the festive season have remained largely the same this year, sales at nurseries are up.
M&As make roaring comeback
(DAVOS, Switzerland) Deal-making is back on the agenda as CEOs step up the hunt for ways to put a multi-trillion-dollar cash pile to work, triggering the busiest January for mergers and acquisitions (M&A) in 11 years.
China has no need to revalue yuan: minister
(DAVOS) China has no need to revalue its yuan currency for trade reasons, as export growth will slow to a still strong 10 per cent this year and its surplus is set to contract by 2015, its trade chief said on Friday.
Leaders warn of looming currency wars
(DAVOS) A fight is looming between rich and poor countries over the value of the US dollar and other key currencies, as governments use monetary tricks to boost their national recovery at the expense of other nations, political and business leaders warned.
Exhausted global elites get burnout warning
(DAVOS) After a brutal four days of world leaders’ speeches, schmoozing and wild parties, exhausted global elites at the World Economic Forum (WEF) were warned of the growing dangers of burnout for society.
Bankers soften tone over regulation
(DAVOS) Top bankers adopted a softer tone after high-level meetings at the World Economic Forum on Saturday, thanking governments for shoring up the financial system in the hope of avoiding tighter regulation.
Defunct biodiesel plants get new lease of life
(SINGAPORE) A new wave of ‘recycling’ is taking place on Jurong Island.
Local film sees feast in reunion dinner theme
FEEL-GOOD movies from Hollywood every Christmas may no longer be news, but a homegrown one made for Chinese New Year may just be what jaded viewers need.
Global markets watching Mubarak’s moves
(LONDON) If President Hosni Mubarak clings to power, investors will reprice Egyptian and regional assets to brace for weeks, months or possibly years of heightened political risk.
A decisive week for market psychology
STOCKS fell hard and fast here last Friday, putting a decidedly dark smudge on what had till then been a bright week for US equities markets, and will make this week a decisive one for market psychology.
Quality of RMs lacking, say some SMEs
(SINGAPORE) Amid a booming economy, banks are stepping up the hiring of relationship managers (RM) to service the growing SME sector. But the fast pace of hiring in a tight labour market may be adversely affecting the quality of RMs, according to some SME bosses.
Service firms lock in CNY staffing
(SINGAPORE) Service sector employers here are pulling out the stops to ensure that there is adequate staffing for the busy Chinese New Year period.
Three-Minute Digest
A NEW wave of ‘recycling’ is taking place on Jurong Island. Defunct first-generation biodiesel plants – which became uneconomical when palm oil prices soared – are being revived as new owners upgrade them to make other products like chemicals used for oil and gas drilling.
Ensuring stability
I WELCOME the measures taken by the government to curb excessive property speculation, but would suggest that the cooling measures should be better targeted towards the HDB market.
Oil nears US$100 on US growth, Egypt unrest
(LONDON) World oil prices rallied close to US$100 per barrel last Friday, as traders absorbed impressive fourth-quarter US economic growth and fretted over worsening political turmoil in Egypt.
Buyers dominate as director trades stay low for third straight week
THE trading activity among directors was low for the third straight week with only 19 transactions worth $2.61 million, based on filings on the Singapore Exchange from Jan 24 to 28.
Portfolios hit by Egypt unrest, Asia tightening
THE tightening cycle in Asia, unrest in Egypt, and the still-far-from-clear-blue sky in the developed world’s economies have conspired to sour investors’ mood last week.
Won and Philippine peso lead Asian currencies’ advance
(BANGKOK) Asian currencies advanced last week, led by South Korea’s won and the Philippine peso, on optimism that faster growth in emerging markets will spur global investors to add to holdings of regional assets.
Manufacturers plan price hikes
(LONDON) From a superjumbo jet plane to the ubiquitous Big Mac, manufacturers around the globe are plotting price rises to offset higher costs and claw back ground lost in the recession.
Chaos reigns on the streets of Egypt
(CAIRO) Egyptians faced lawlessness on their streets yesterday with security forces and ordinary people trying to stop looters after days of popular protest demanding an end to President Hosni Mubarak’s authoritarian 30-year rule.
They’re young, jobless, Arab and angry
(DUBAI) Just days before fleeing Tunisia, its embattled leader went on national television to promise 300,000 new jobs over two years.
US coal producers to merge in US$7b deal
(CHICAGO) Alpha Natural Resources, the third-biggest US coal producer, agreed to buy Massey Energy for about US$7.1 billion in cash and stock, gaining the largest coal company in the US Central Appalachian region.
Djokovic beats Murray to win his second title
(MELBOURNE) Novak Djokovic beat Andy Murray in straight sets to win his second Australian Open title, extending Britain’s 75-year wait for a men’s Grand Slam tennis champion.
Single currency area has turned the corner: leaders
(DAVOS, Switzerland) The eurozone’s debt crisis has turned a corner and any doubt about the survival of the single currency area has passed, European policymakers and international bankers said.
Irish senate okays key finance bill
(DUBLIN) Ireland’s political parties geared up yesterday for embattled Prime Minister Brian Cowen to call for elections after the senate passed a key finance bill needed to meet the terms of an international bailout.
Investors losing faith in Belgium
(BRUSSELS) Belgium is fighting a losing battle as it tries to sell its deficit reduction plan to international investors who remain worried about its lack of government, an executive at its debt agency told a newspaper.
Australia battens down the hatches as storms approach
(SYDNEY) Flood-shattered Australia braced for further downpours yesterday as two tropical cyclones hammered toward the devastated north-east, threatening further misery for already submerged towns.
Ford shares down 13% on disappointing Q4 profit
(DETROIT) Ford Motor Co’s earnings have fallen far short of expectations on surging costs for new vehicle launches and an unexpected loss at its European business, driving its shares down by more than 13 per cent.
Telenor mulls legal action to block Vimpelcom deal
(OSLO) Telenor is preparing for possible legal action to block Vimpelcom’s US$6 billion bid to expand its telecoms empire outside Russia, now that an attempt to build shareholder opposition looks doomed.
British minister defends tax hikes, spending cuts
(LONDON) Britain’s finance minister and his opposition party counterpart clashed yesterday on the pace of austerity cuts, after a series of negative economic data and a slump in the government’s popularity.
Norwegian daily does a wikileak – on WikiLeaks
(OSLO) As if there isn’t enough intrigue around WikiLeaks and its enigmatic founder, a Norwegian daily that laid hands on the same US classified documents says that it has infuriated Julian Assange by playing his own game.
Philippine tycoon eyes infrastructure projects
(MANILA) Manuel Pangilinan may have embarked on one of the Philippines’ most remarkable corporate buying binges over the past dozen years, but he is hungry for more.
Facebook not worth US$50b: poll of investors
(NEW YORK) Facebook Inc is not worth US$50 billion, according to a poll of global investors that shows scepticism about Goldman Sachs Group Inc’s recent estimate of the largest social networking site’s value and concern that a bubble may be forming in the technology sector.
The World islands not eroding away: Nakheel
(DUBAI) A cluster of 300 artificial islands off Dubai’s coast in the shape of a global map is stable, its developer Nakheel insists, despite a court claim alleging that ‘The World’ was neglected and eroding away.
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