Business Times Online - Top Stories

Correction and clarification

Tue, 21 Feb 2012 20:00:00 GMT

IN 'A boon for both the older Singaporean employee and the employer' (BT, Feb 18-19), we quoted a Hernaikh Clemence, chief executive of the Singapore International Chamber of Commerce and Industry. It should have been Hernaikh Singh, CEO of the Singapore Indian Chamber of Commerce and Industry. We are sorry for the error.

A new dawn in Christchurch a year after massive quake

Tue, 21 Feb 2012 20:00:00 GMT

(SINGAPORE) A year on since suffering a brutal earthquake that was the second-deadliest natural disaster in New Zealand's history, the city of Christchurch is more than eager to roll out the welcome mat for foreign investors and tourists.

Edgeworth blames recession, credit crunch for troubles

Tue, 21 Feb 2012 20:00:00 GMT

EDGEWORTH Properties Inc - whose land-banking scheme had drawn thousands of investors in Singapore - has laid the blame for its liquidity crisis on the recession that had hit both the property and financing markets hard. And unexpectedly high cost overruns only made matters worse, the Canadian company declared in court papers to back its bid to restructure its operations while keeping creditors at bay.

Aim: integrated, multimedia newsrooms

Tue, 21 Feb 2012 20:00:00 GMT

(SINGAPORE) The growing dominance of digital media points towards the need for a better integration of various media platforms, said Patrick Daniel, editor-in- chief of the English and Malay Newspapers Division, Singapore Press Holdings, at the EMND 2011 Annual Awards yesterday.

BT's Joyce Hooi bags Young Journalist award

Tue, 21 Feb 2012 20:00:00 GMT

IT was 'second time lucky' for The Business Times reporter Joyce Hooi, who won the annual English and Malay Newspapers Division's (EMND) Young Journalist of the Year award - and the second year running that BT has bagged the coveted prize.

S'pore CFOs aggressive on M&A, hesitant on capex

Tue, 21 Feb 2012 20:00:00 GMT

(SINGAPORE) Singapore financial chiefs are among Asia's most aggressive towards mergers and acquisitions in 2012 but among the most conservative towards capital spending, according to a regional survey by Bank of America Merrill Lynch.

Asia-Pac still top region for M&As last year

Tue, 21 Feb 2012 20:00:00 GMT

(SINGAPORE) Mid-sized merger and acquisition (M&A) activity in Asia Pacific slipped last year, but the region still reigned by posting the largest number of deals worldwide.

Greece bailout deal gets underwhelming response

Tue, 21 Feb 2012 20:00:00 GMT

THE euro and European stock markets slipped in an underwhelming market response to the latest Greece bailout package.

Three-Minute Digest

Tue, 21 Feb 2012 20:00:00 GMT

THE euro and European stock markets slipped in an underwhelming market response to the latest Greece bailout package. After marathon talks lasting 13 hours on Monday, the Greek government and eurozone members at last agreed on a rescue package of 130 billion euros. Market reaction was muted because investors believe that the accord has merely bought time.

Three-Minute Digest

Mon, 20 Feb 2012 20:00:00 GMT

JUST a year-and-a-half after the Commercial Affairs Department started probing Profitable Plots for allegedly not paying investors, BT understands that it is on the trail of another land banking firm - Canada-based Edgeworth Properties Inc. The Canadian company has obtained court protection to restructure its operations which includes closing its Asian offices - putting more than 2,000 investors in Singapore in a bind over their land investments in the province of Alberta.

Competition body seeks feedback on proposed changes

Mon, 20 Feb 2012 20:00:00 GMT

(SINGAPORE) The Competition Commission of Singapore (CCS) is seeking feedback on proposed changes to streamline and improve the transparency of the merger review procedures.

Japan's Jan trade deficit hits new record

Mon, 20 Feb 2012 20:00:00 GMT

JAPAN suffered its biggest monthly trade deficit on record in January, it was reported yesterday.

Push for LPG import terminal gains pace

Mon, 20 Feb 2012 20:00:00 GMT

(SINGAPORE) High oil prices and petrochemicals oversupply vis-a-vis demand are putting pressure on Singapore's mainly naphtha-fuelled crackers - namely those run by Petrochemical Corporation of Singapore (PCS), Shell and ExxonMobil - to build an LPG import terminal to enable them to better compete with crackers, like those in the Middle East, which use such light, alternative feedstock.

Oil prices jump as Iran halts UK, France trade

Mon, 20 Feb 2012 20:00:00 GMT

(SINGAPORE) Crude oil prices jumped in Asian trade yesterday as Iran made a pre-emptive strike in halting its already limited oil exports to Britain and France ahead of a European Union embargo against it, set to start in July. Brent crude hit an eight-month high, rising US$1.52 to over US$121 per barrel by 5pm Singapore time.

Santi at MBS to serve last meal on March 11

Mon, 20 Feb 2012 20:00:00 GMT

(SINGAPORE) Marina Bay Sands (MBS) suffered its first celebrity restaurant casualty when it announced yesterday that its Spanish eatery Santi would serve its last meal on March 11.

Budget highlights challenges facing policymakers: economists

Mon, 20 Feb 2012 20:00:00 GMT

(SINGAPORE) Singapore's 'Budget for the future' throws into sharp relief the challenges facing policymakers as they aim to raise the economy's productivity and reduce its reliance on foreign labour, including heightened risks of inflation in the near term, economists say.

Asian markets rally as China cuts reserve ratio

Mon, 20 Feb 2012 20:00:00 GMT

(SINGAPORE) Stock markets across Asia rallied yesterday after China's central bank surprised investors by cutting the reserves that Chinese banks need to hold, freeing more cash for them to lend to businesses and households.

CAD on trail of Edgeworth Properties?

Mon, 20 Feb 2012 20:00:00 GMT

(SINGAPORE) Just a year-and-a-half after the Commercial Affairs Department (CAD) started probing Profitable Plots for allegedly not paying investors, BT understands that it is on the trail of another land-banking firm - Canada-based Edgeworth Properties Inc.

Three-Minute Digest

Sun, 19 Feb 2012 20:00:00 GMT

THE Budget measures to spur increased productivity and sustainable long-term growth for Singapore carry short-term inflation and other risks for businesses and the economy, say analysts and business leaders.

Iskandar shifting into high gear with basics done

Sun, 19 Feb 2012 20:00:00 GMT

(SINGAPORE) Set up in July 2006, Iskandar Malaysia special economic zone is only now moving into high gear, with the recent completion of major infrastructure projects and industrial parks.

Consumer confidence to keep bull market going

Sun, 19 Feb 2012 20:00:00 GMT

THE US stock market is at its highest level in four years and this week a Greek bailout and various consumer reports will likely add fuel to the fire.

Resale activity in older housing estates may rise

Sun, 19 Feb 2012 20:00:00 GMT

(SINGAPORE) Resale activity in public housing estates with many elderly homeowners is set to increase after the Government introduced a $20,000 bonus for older Singaporeans who sell their flats and buy three-room or smaller flats.

Clarification

Sun, 19 Feb 2012 20:00:00 GMT

For an inclusive society and upgraded economy

Sun, 19 Feb 2012 20:00:00 GMT

THE theme of Budget 2012 is building an inclusive society and upgrading the economy.

A little pain now for a lot of gain later

Sun, 19 Feb 2012 20:00:00 GMT

THE last 12 months have seen incredible political, social and economic upheaval in many countries around the world.