SINGAPORE STOCK NEWS | 2012-01-21

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   Headlines for ChannelNewsAsia, dated: 2012-01-24

Britain's net debt hits record 1 trillion pounds
LONDON: Britain's state borrowing fell by more than expected last month but not by enough to prevent its net debt from reaching a record high of 1.0 trillion pounds ($1.55 trillion), official data showed on Tuesday.


   Australia will follow EU ban on Iranian oil imports
LONDON: Australian Foreign Minister Kevin Rudd said on Tuesday his country would follow the European Union in banning Iranian oil imports, after talks with his British counterpart in London.

Crisis hurt Siemens' profits in Q1
FRANKFURT: German industrial giant Siemens said Tuesday that bottom-line profits were down in the first three months of the current business year as customers delayed projects due to the debt crisis.

Japan's premier announces sales tax hike plan
TOKYO : Japan's prime minister told parliament on Tuesday he will move to double sales taxes, warning that the future of the world's third-largest economy depends on turning the rising tide of public debt.

Eurozone wants Greeks to give written pledge on reforms
BRUSSELS: The eurozone wants Greek political parties to commit to economic reforms in writing before Athens can receive a second bailout, Austria's finance minister said Tuesday.

Japan economy figures revised
TOKYO: Japan's economy is expected to shrink 0.4 percent in fiscal 2011, the country's central bank forecast Tuesday, a reversal of its previous projection of 0.3 percent growth.