SINGAPORE STOCK NEWS | 2012-07-10

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   Headlines for ChannelNewsAsia, dated: 2012-07-13

Asia has firepower to fight slowing growth: analysts
HONG KONG – Bad news from South Korea, Singapore and China this week failed to rattle investors' confidence in the region, despite fears that Europe's economic contagion is spreading rapidly to the East.


   Interest rate rigging scandal also involves Japan: EU
LISBON – The EU investigation into a "shocking" interest-rate rigging scandal in the world's biggest money market in London also includes Japan, EU Competition Commissioner Joaquin Almunia said on Friday.

Asian markets end mixed following China data
HONG KONG : Asian shares ended mixed on Friday after China said its economy slowed in line with expectations, quashing fears data would show a "doomsday" scenario of the country heading for a hard landing.

Geithner "warned" about Libor rate manipulation in 2008
WASHINGTON: US Treasury Secretary Timothy Geithner warned about the manipulation of Britain's Libor bank rate in 2008, four years before Barclays was fined for trying to rig it, the Washington Post reported.

South Korea mulls offer of Iranian oil tankers
SEOUL: Seoul is considering an offer by Tehran to send crude on Iranian tankers to South Korea, officials said on Friday, as a way to circumvent EU sanctions and resume imports of oil from Iran.

S. Korea lowers 2012 growth outlook to 3%
SEOUL: South Korea's central bank on Friday lowered its 2012 economic growth outlook to three per cent, citing a global slowdown and the eurozone debt crisis.

Moody's downgrades Italian government debt
NEW YORK – US ratings agency Moody's downgraded Italy's government bond rating by two notches, citing the knock-on effects of a possible Greek exit from the eurozone and Spain's banking woes.

China's retail sales up 13.7% in June
BEIJING: China's retail sales rose 13.7 per cent in June compared with the same period a year earlier, the government said Friday.

China's economy grows 7.6% in Q2
BEIJING – China's economy expanded at its slowest pace since the depths of the global financial crisis more than three years ago, official data showed Friday, fuelling expectations of more stimulus moves.

San Francisco sours on Apple computers
SAN FRANCISCO: San Francisco city officials on Thursday said that they have soured on Apple computers due to the Macintosh maker's decision to bail out of a program to promote making electronics earth friendly.