Business Times Online - Top Stories

Greek unions, employers reject wage cuts

Fri, 03 Feb 2012 20:00:00 GMT

UNIONS and employers' associations in Greece have rejected demands for private-sector wage cuts, despite pressure for the country to introduce strict austerity measures if it is to receive a crucial bailout package.

Panasonic sees 780b yen record annual net loss

Fri, 03 Feb 2012 20:00:00 GMT

JAPAN'S Panasonic Corp forecast a record annual net loss of US$10.2 billion yesterday, joining beleaguered rivals Sony and Sharp in a sea of red ink as they struggle to fix their broken TV businesses and overcome criticism that they have lost their way.

Japan banks stress-testing exposure to govt bonds

Fri, 03 Feb 2012 20:00:00 GMT

JAPANESE banks are running 'stress tests' on their large exposures to Japanese Government Bonds (JGBs) and how these could be affected by possible shifts in interest rates, International Monetary Fund (IMF) deputy managing director Naoyuki Shinohara told The Business Times yesterday.

Singapore must rely on immigrants or face stagnant economy, says LKY

Fri, 03 Feb 2012 20:00:00 GMT

WITH the fertility rate trending downwards over the years, Singapore will have to depend on immigrants to make up the numbers in the long run, said founding prime minister Lee Kuan Yew.

Engineering sector eyes drainage spending

Fri, 03 Feb 2012 20:00:00 GMT

CIVIL engineering companies here are eyeing the increased government spending and focus on drainage issues with interest.

Wealth managers staying sober at Facebook IPO party

Fri, 03 Feb 2012 20:00:00 GMT

IT'S the year's hottest initial public offering, but some wealth managers find themselves having a hard time recommending Facebook to their clients.

Indian telecom regulation still 'in a mess'

Fri, 03 Feb 2012 20:00:00 GMT

'THE whole thing is in a mess,' an Indian judge said of the country's telecommunications policy 14 years ago.

Libor case: Fired manager says he flouted no rules

Fri, 03 Feb 2012 20:00:00 GMT

AN ex-manager of the Royal Bank of Scotland, which is being investigated by US and European regulators for alleged manipulation of London interbank offered rates (Libor), said he had been made to take the blame so that the bank could avoid being sanctioned by the authorities.

From hawker to Deputy Prime Minister

Fri, 03 Feb 2012 20:00:00 GMT

HE was a hawker who became an academic and later Deputy Prime Minister in Singapore's first Cabinet.

A man of principle, a tenacious fighter

Fri, 03 Feb 2012 20:00:00 GMT

FORMER deputy prime minister Toh Chin Chye - founding chairman of the People's Action Party (PAP) and the last of Mr Lee Kuan Yew's core coterie of Old Guard lieutenants - died yesterday morning at the age of 90.

Mobius stays bullish on emerging markets

Fri, 03 Feb 2012 20:00:00 GMT

EMERGING markets guru Mark Mobius says he remains bullish about emerging markets this year as valuations are still near all-time lows.

SingTel's startup bootcamp for tech upstarts

Fri, 03 Feb 2012 20:00:00 GMT

THERE is a corner of the SingTel empire where people have taken to scribbling on walls. This streak of vandalism, however, has been endorsed by its group CEO. (One of the bits of graffiti says 'Sock Koong is here').

US job growth surges, unemployment dips

Fri, 03 Feb 2012 20:00:00 GMT

THE US economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3 per cent, indicating that last quarter's growth carried into early 2012.

Three-Minute Digest

Thu, 02 Feb 2012 20:00:00 GMT

FACEBOOK'S initial public offering to raise US$5 billion might be the largest in Internet history, but deep-pocketed investors are not rushing to 'friend' it.

Fortis to open $70m colorectal specialist hospital

Thu, 02 Feb 2012 20:00:00 GMT

(SINGAPORE) Fortis Healthcare International will be opening the region's first colorectal specialty hospital here in July, in a $70 million move to make Singapore its international hub.

India's top court cancels 122 licences in 2G auction scandal case

Thu, 02 Feb 2012 20:00:00 GMT

(NEW DELHI) India's Supreme Court yesterday ordered telecoms licences issued under a scandal-tainted 2008 sale be revoked, striking a blow against corruption that plagues the country and roiling the world's second biggest cellular market.

Genting S'pore's prospects given the thumbs-up

Thu, 02 Feb 2012 20:00:00 GMT

A MAJOR laggard in 2011, Genting Singapore (GenS) appears on course to ride the water dragon's prosperity this year, according to gaming analysts.

Analysts zero in on higher bad debt reserves at MBS

Thu, 02 Feb 2012 20:00:00 GMT

(SINGAPORE) Amid bullishness on Las Vegas Sands Corp's (LVS) stellar fourth- quarter earnings and its first-ever dividend payout, analysts have cast the spotlight on Marina Bay Sands' (MBS) higher bad debt reserves as the global economy slows down.

Insurance to cost more in areas hit by natural disasters

Thu, 02 Feb 2012 20:00:00 GMT

(SINGAPORE) Commercial insurance rates in Asia are expected to climb in regions affected by natural disasters following record insurance losses last year.

Privately public

Thu, 02 Feb 2012 20:00:00 GMT

FACEBOOK's US$5 billion-plus initial public offering (IPO) won't bring a major status update. Listing on a stock exchange typically brings lots of changes. But tick through the list, and it's clear that the social network, which filed for its long-awaited US IPO on Wednesday evening, is already largely there.

Bridging loans, jobs credit on SME wishlist

Thu, 02 Feb 2012 20:00:00 GMT

(SINGAPORE) Small and medium-sized enterprises (SMEs) here are calling for a revival of some of the schemes Singapore introduced in 2009 to tide through the financial crisis, even though the government has signalled that this is unlikely to happen.

Choice Jervois Rd plot draws 17 bids, topped by SingLand

Thu, 02 Feb 2012 20:00:00 GMT

(SINGAPORE) A plum 99-year leasehold private condo plot at Jervois Road drew a whopping 17 bids yesterday, attesting to the site's choice location and relatively affordable investment size for the site's development.

Oil traders face financing crunch, LC lines cut

Thu, 02 Feb 2012 20:00:00 GMT

(SINGAPORE) Oil traders here are encountering a tougher environment as far as financing deals is concerned, sources have told BT. The problems first emerged about a month ago, brought on largely by bank worries about the eurozone. The higher oil prices arising from tension over Iran's nuclear programme have not helped.

Few 'like' Facebook's status update

Thu, 02 Feb 2012 20:00:00 GMT

(SINGAPORE) Facebook's initial public offering (IPO) to raise US$5 billion might be the largest in Internet history, but deep-pocketed investors are not rushing to 'friend' it.

Three-Minute Digest

Wed, 01 Feb 2012 20:00:00 GMT

RISING rentals for commercial and industrial space have emerged as a pressing issue for small and medium enterprises, and the fingers are pointed squarely at the dominance of Reits as landlords.