News Today

Picture-perfect smile
PHOTO: AP Visitors at a Beijing temple picking their favourite photo from a wall lined with smiling faces. Prizes will be awarded to the person in the winning picture and the photographer.... [Read more]

Drawing the crowds at SMRT station
Auspicious Chinese couplets and paintings were given away free to SMRT passengers and shoppers at the Raffles Xchange mini-mall yesterday by artists from the Life Art Society (LAS). In the past three years, the society's giveaways have been held at SMRT... [Read more]

Mahathir out of hospital
FORMER Malaysian prime minister Mahathir Mohamad was discharged from hospital yesterday after being treated overnight for flu, his aide said. Tun Dr Mahathir, 81, said he was feeling better, according to his aide Sufi Yusoff. Details of his medical treatment were... [Read more]

Pirated movie vendors go mobile to avoid crackdown
KUALA LUMPUR - AT A suburban hawker centre in Petaling Jaya, the fare on offer range from delicious bowls of laksa and pork noodles to the latest Jackie Chan or Ben Stiller blockbuster. A young man with spiky hair walks up... [Read more]

Envoys told to rebut Thaksin
BANGKOK - THE Thai government has asked its diplomats to counter the comments made by deposed prime minister Thaksin Shinawatra in interviews with international news organisations.In a number of interviews with newspapers, magazines and TV channels - the latest being an... [Read more]

An IRB satellite event for S'pore?
SINGAPORE is aiming to host an International Rugby Board (IRB) satellite tournament. It could take place later this year, and the Singapore Rugby Union (SRU) is hoping that the move can boost its bid to bring back the prestigious Rugby Sevens... [Read more]

Jakarta defends move to halt sharing of bird flu samples
JAKARTA - INDONESIA yesterday defended its decision to stop sharing bird flu samples with the World Health Organisation, saying it did not want the agency passing them to drug companies to develop vaccines the country could not afford. But Health Minister... [Read more]

CAO parent, BP delay asset injection
A PROPOSED injection of operating assets into jet fuel supplier China Aviation Oil (CAO) has been delayed by another six to nine months.China-based, Singapore-listed CAO said yesterday that its parent company China National Aviation Fuel Holding (CNAF) and oil giant BP... [Read more]

Pioneer residents want wet market
THREE supermarkets serve the 50,000 or so residents of Pioneer constituency in Jurong.But residents in the young estate, half of whom are between 20 and 45 years old, have a craving that harks back to the old days: for a wet... [Read more]

The campaign begins for Hillary and Obama
IT WAS inevitable, but it came sooner than anyone predicted. After Mr Barack Obama - the one-term senator from Illinois - more or less declared his candidature for the US presidential elections, two-term New York senator Hillary Clinton threw her hat... [Read more]

Letter bomb explodes in central London
LONDON - A LETTER bomb exploded in central London yesterday, injuring one woman and causing panic. The blast occurred at the London headquarters of the company that administers the British capital's traffic congestion toll, Capita. It is less than 180m from... [Read more]

Benchmark interest rate at lowest since end-2005

SINGAPORE'S benchmark interest rate has dipped sharply since the global stock-market upheaval last week, hitting its lowest level since December 2005.

The three-month Singapore interbank offered rate (Sibor) fell to a 15-month low of 3.1875 per cent yesterday - down about 5 per cent this month.

Sibor is the interest rate at which banks lend excess savings to one another. It influences the rates that consumers pay on loans such as mortgages.

However, mortgage borrowers who have seen their interest payments rise in the last two years may have to wait some time before their loan rates drop.

This is because there is usually a lag between Sibor and consumer loan rate movements.

Secondly, Sibor is not expected to plunge much further, predicted economists. Despite the sudden drop from around 3.37 per cent at the end of last month, the Sibor is still a long way off the rock-bottom levels of less than 1 per cent in 2004.

In 2005, it rose from under 2 per cent to above 3 per cent, in tandem with monetary tightening by the United States Federal Reserve. It has stayed above 3 per cent since December 2005.

Singapore's interest rates are determined by market forces, as the country's central bank controls monetary policy by managing the Singdollar's exchange rate.

It is unclear how last week's stock-market drama is related to the recent fall in Sibor, as the rate did not move much during the stock-market meltdown in May last year, said economists.

However, one possibility is that nervous investors are taking money out of stocks and keeping them in safer assets.

'One possibility is that there has been a flight to safety by investors,' said United Overseas Bank economist Alvin Liew.

'The sharp correction in the stock market may have caused money to flee to safe assets such as bonds, weighing down bond yields. That may translate into lower Sibor.'

Another possible reason is that negative data from the US has made the market more certain of not one, but two cuts in the Fed funds rate this year.

'The market has priced in a higher probability of two Fed rate cuts, when before the spate of bad news, they weren't even totally sure of one cut,' said Citigroup economist Chua Hak Bin.

The Sibor could fall to 3.1 per cent when the Fed cut finally materialises in the second half of the year, but would stay above 3 per cent this year, he said.

Mr Liew expects the Sibor to bounce back up to above 3.3 per cent soon and said it would be very unlikely to go back to 2005 levels again this year.

News Today

Lions to keep focus on match
BANGKOK - SECURITY may have been heightened. The Thai media may also have dubbed the Thailand-Singapore showdown as a grudge match. But, for the Lions at least, tomorrow's Asean Football Championship second-leg final will be treated just like any other game.... [Read more]

Students to get overseas exposure
IN AN effort to give students foreign exposure and broaden their horizons, Ngee Ann Polytechnic will offer a course in international business when the new academic year begins in April.Students can expect overseas internships, exchange programmes and study missions to emerging... [Read more]

Chicks are Us!
What it should have beenThe table of unit trust prices published in page H16 in the Money section yesterday was inaccurate. The correct version is published today.... [Read more]Long drive aheadThe lighted ceiling of the Zhongnan Mountain Tunnel is part of... [Read more]

Could a wedding break the Gandhi-Bachchan ice?
IF THE Gandhis are the dominant clan in Indian politics, there is little doubt who calls the shots in Mumbai, headquarters of the nation's film world: The Bachchans are the first family of glamour. The city pauses when Amitabh Bachchan, India's... [Read more]

US warns of investor flight if trade talks with Malaysia fail
KUALA LUMPUR - THE United States warned yesterday that failure of free trade talks with Malaysia would send a message that the two countries were 'not open for business', and said next week's round would be critical.Deputy US Trade Representative Karan... [Read more]

Even those 'over the hill' need chores to maintain their faculties
The writer of 'Senior citizens have a moral and social obligation to take care of themselves' (Online forum, Feb 6) cautions the elderly against over-reaching in case they 'incur pain through their own foolishness'.He quotes two examples: A 66-year-old man broke... [Read more]

Shell wins employer of choice prize at top HR awards
DO YOU wish you could work from home instead of trudging into the office or leaving it early to fetch your children from school? These are just the kind of work-life balance initiatives that are in place at Shell Eastern Petroleum,... [Read more]

Blowing hot and cold
WASHINGTON - UNITED States President George W. Bush and Iranian leader Mahmoud Ahmadinejad have sparred - albeit separately on American television - as both sought to defuse speculation about an impending military confrontation between the two countries. Mr Bush dismissed talk... [Read more]

Thai workers urged to keep cool over loss
THAILAND'S Labour Ministry has called on Thai workers in Singapore not to vent their unhappiness over the Republic's controversial 2-1 win over Thailand in the first leg of the Asean Championship football final. It said that doing so would not be... [Read more]

Govt can't force private sector to share costs
ALTHOUGH the Government is bearing part of the recent increase in the cost of sand for its ongoing projects, it cannot ensure this is the case for every private sector dealing as well. Neither can it fix the price of ready-mix... [Read more]

Pension fund scam involved 20 top names
SHANGHAI - AT LEAST 20 officials and businessmen were involved in Shanghai's pension fund scandal, the government said yesterday, giving its fullest account yet of the scandal that rocked the city last year. Eleven party officials and more than 10 others... [Read more]

Directors' Trades

LEE KIM TAH DIRECTORS RAISE DEEMED STAKES

THE controlling shareholder of Lee Kim Tah Holdings, a firm linked to executive chairman Lee Soon Teck, has been buying shares in the construction firm on a daily basis since the start of the month.

Mr Lee has been buying company shares on and off through Lee Kim Tah Investments for the past two years.

This entity has boosted its stake in the company from 62.03 per cent towards the end of last month to 62.4 per cent on Tuesday, a check with shareinvestor.com showed.

The investment firm is linked to Mr Lee and executive director Edwin Lee Yong Chuan, whose deemed stakes in Lee Kim Tah have now risen.

Since last week, about 1.8 million shares have been bought at prices ranging from an estimated 50.5 cents to 53 cents.

The purchases would have cost the investment vehicle around $900,000.

Lee Kim Tah shares reached a high on Jan 8 of 62.5 cents. Since then it has declined.

But despite the market correction last week, the counter has remained steady. Yesterday, Lee Kim Tah shares ended unchanged at 52.5 cents.

This could be due to full-year profits which were announced on Feb 27 being positive, showing that the bottom line had more than doubled from $4.7 million to $9.9 million.

Lee Kim Tah also announced a first and final dividend of one cent less tax per share, and a special dividend of 2.13 cents less tax per share, to utilise the Section 44 tax credits which will expire on Dec 31.

LEE SU SHYAN

Arsenal and Chelsea reserves in fracas

JUST eight days after the brawl in the League Cup final came the ruckus at London's Recreation Ground.

The reserve teams of Arsenal and Chelsea were involved in a brief but ugly fracas on Monday.

The confrontation took place in the second half. Most of the players pushed and shoved in the Arsenal penalty area after Gunners goalkeeper Mart Poom dropped a ball, reported The Telegraph.

No player was sent off, but there were three cautions.

The match ended 0-0.

News Today

$15, 220 missing from charity's bank account
THE new management team at troubled charity Youth Challenge has discovered that $15,220 is missing from its bank account.The money was withdrawn though an unauthorised online transaction on Jan 15.It is believed to be for staff salaries, including that of its... [Read more]

Go for these in future Budgets...
IT IS truly a 'Wow Budget 2007' as it sets a new direction for the future. It shows the Government has listened and taken concrete steps to address concerns over the widening income gap and rising cost of living affecting the... [Read more]

China's brain drain is the world's most severe
BEIJING - CHINA suffers the most severe brain drain of any country, raising fears that there may not be enough talents around to manage the world's fourth-largest economy, state media said yesterday. Out of about one million Chinese who have studied... [Read more]

Taipei to drop 'China' from names of firms
TAIPEI - TAIWAN'S ruling party has passed a resolution calling for the elimination of the word 'China' from the names of state-run companies that were founded in the days when the island's government claimed sovereignty over its giant neighbour.It is a... [Read more]

Rice faces Israeli anxieties in her push for talks on Palestinian state
WASHINGTON - THE Bush administration's Middle East peace initiative takes place at the weekend amid uncertainty because of Israeli anxieties over the complexion of a proposed Palestinian unity government.Secretary of State Condoleezza Rice will lead the push to bring together the... [Read more]

Couple get back baby held over unpaid bills
JAKARTA - THE impoverished parents of a baby held by an Indonesian clinic for three weeks because they could not pay the bill for her birth have been reunited with their daughter, a welfare official said yesterday. The clinic was forced... [Read more]

Beijing slams Chen's name-change move
BEIJING - BEIJING condemned Taiwan's President yesterday for dropping 'China' from the names of state-run firms and introducing 'distorted' history books, saying the moves were aimed at severing links with the mainland.But President Chen Shui-bian of Taiwan told reporters yesterday that... [Read more]

NKF suit ends as Yong, Loo drop third-party claims
IT TOOK just under five weeks instead of the expected eight, but the National Kidney Foundation (NKF) suit came to a close yesterday. The development that brought the curtains down: Former NKF chairman Richard Yong and former treasurer Loo Say San's... [Read more]

High-tech labs at polys, with help of tech giants
TWO polytechnics now have training labs with state-of-the-art equipment, supplied by leading multinational corporations, that can support interactive and digital media (IDM).Students and professionals will benefit from the polytechnics' courses in IDM using the advanced equipment.Nanyang Polytechnic's NYP-IBM Cell Broadband Engine... [Read more]

News? Simi lancheow! Go Fuck yourself!
India to review policy on SEZ projectsNEW DELHI - INDIA is reviewing its policy on special economic zones as opposition to them grows.A panel of senior ministers will examine all new plans for the zones, which are intended to attract billions... [Read more]

Friendlier inter-Korea relations on the cards
SEOUL - INTER-Korea ties may turn sunny again after Pyongyang agreed to halt its nuclear programme in return for aid and diplomatic benefits. A day after securing the six-party nuclear deal, the two Koreas announced yesterday that they would resume stalled... [Read more]

News Today

Bouquets
FREE TICKETS TO A GREAT MATCHMY BOYFRIEND and I would like to thank a middle-aged couple who offered us their extra set of grandstand tickets to the Singapore-Malaysia football match at the National Stadium on Saturday.The kind couple gave us the... [Read more]

Bellamy a 'scapegoat' for Liverpool's training-trip fracas
LIVERPOOL - CRAIG Bellamy has been made a scapegoat for Liverpool's training-camp ruckus in Portugal. Sources within the club suggest the 27-year-old Welsh international's bad-boy reputation was exploited to deflect blame from a large number of players involved in breaches of... [Read more]

Call-centre deal done improperly?
THE deal the National Kidney Foundation (NKF) had with Protonweb Solutions to run a call centre was a 'good deal', even though it was sealed without a 'proper' tender exercise. Cross-examined for the third day, former NKF finance manager Raghavan Gopinath... [Read more]

Where not to park a bicycle
PHOTO: ERIC CHOO/STOMP Mr Eric C. saw this bike hanging precariously from a block near his home in Jalan Bukit Merah. The 28-year-old assistant engineer was shocked at the danger it posed and sent a picture to Stomp, The Straits Times'... [Read more]

'Screams, but they couldn't get out'
DEWANA (INDIA) - THE fire was raging when the train roared into the tiny Dewana station, flames spurting from two cars filled with terrified, screaming passengers. 'I saw flames leaping out of the windows,' said Mr Vinod Kumar Gupta, the assistant... [Read more]

High-tech labs at polys, with help of tech giants
TWO polytechnics now have training labs with state-of-the-art equipment, supplied by leading multinational corporations, that can support interactive and digital media (IDM).Students and professionals will benefit from the polytechnics' courses in IDM using the advanced equipment.Nanyang Polytechnic's NYP-IBM Cell Broadband Engine... [Read more]

'We're gangsters. Both are gangsters'
IN A testimony peppered with glimpses of underworld dealings, accused gunman Tan Chor Jin yesterday gave his side of the story in the fatal shooting of his long-time friend, nightclub boss Lim Hock Soon. Tan, dubbed the 'One-eyed Dragon', told of... [Read more]

Why no new $10 polymer notes?
AFTER queuing for almost an hour at a POSB branch for its $500 Prosperity Pack, I was surprised to find that the new $10 notes were not of the polymer type, and the serial numbers were not in sequence. Has the... [Read more]

Thai Premier hits out at junta leader
BANGKOK - THAILAND'S army-installed Prime Minister Surayud Chulanont yesterday accused the junta leader of not doing enough to curb a separatist insurgency in the Muslim-majority south. General Sonthi Boonyarataglin, who heads the junta and Thailand's main security organisation, had failed to... [Read more]

ComCare has spent $68m to help 90,000 individuals, families
EIGHTEEN months after ComCare was launched to fund social assistance programmes, the scheme has delivered on its promise to deliver faster and better help to Singaporeans in need, an official report declared yesterday.So far, 90,000 individuals and families have benefited through... [Read more]

Disappointment after disappointment over CPF money
I called the Central Provident Fund on Jan 26 to enquire on my father's withdrawal of the balance from his retirement account. The operator checked his account and confirmed that he qualified for the withdrawal. She also informed us that if... [Read more]

Corpse in sea: Police sorry for distress caused

POLICE would like to convey our sincere apologies to Mrs Susan Carpenter ('Why did it take police an hour to attend to corpse?'; ST, March 1) for the distress caused to her and her family and also to other members of the public on the day of the incident. We would also like to express our deepest regrets to the family of the deceased.

We have looked into Mrs Carpenter's feedback. Police received her call at about 11.05am. While the site comes under the jurisdiction of Bedok South Neighbourhood Police Centre (NPC), its patrol resources were all tied up and officers from the neighbouring Changi NPC were despatched.

This resulted in a slight delay and officers eventually arrived at Carpark E2 near the East Coast Park Lagoon at about 11.40am. The officers could not locate the site of the incident and while trying to contact Mrs Carpenter for the exact location, were signalled by some members of the public about 400m away. Our officers then drove the patrol car to the carpark (E1) nearest to the scene and attended to the incident.

We would like to assure Mrs Carpenter that the police take all reports seriously and would respond to any request for assistance as soon as possible. We are looking into the handling of this incident with a view to improving our service.

We thank Mrs Carpenter for her public-spiritedness and feedback.

Audrey Ang (Ms)
Assistant Director (Media Relations)
Singapore Police Force

Wenger's ire takes gloss off Rovers' win

BEATEN and bitter, Arsenal make their exit from a cup competition for the second time in a week.

As Blackburn progressed to the quarter-finals of the FA Cup - where they will face Manchester City at home - Arsenal find themselves needing to win the Champions League to secure any silverware this season.

This was a game too far for Arsenal. It was one match too many for Arsene Wenger's inexperienced side to overcome Premier League opposition.

A game too soon after the demoralising League Cup final defeat by Chelsea.

And, perhaps, one too many for their manager as the repercussions of their loss in Cardiff rumble on,

Arsenal's anger has not subsided. The man Wenger had earmarked to lead his attack at Ewood Park, Emmanuel Adebayor, was banned.

He was suspended for a red card that his manager did not believe should have been given and upheld by the Football Association.

Wenger did not disagree when asked if he was disappointed that Chelsea's English players did not face charges.

It deflected attention from a notable victory for Blackburn, secured by substitute Benni McCarthy's goal in the 87th minute.

It came when Philippe Senderos, who had been outstanding in the centre of defence, was out of position at right-back after Emmanuel Eboue had to be withdrawn.

Then Blackburn's substitutes combined brilliantly. David Dunn picked out McCarthy, who cut inside the Swiss, seemingly uncertain in his new role, to rifle in a quite brilliant shot.

It was his 16th goal of the season and a comparison of the two benches flattered Blackburn.

'We are a bit short at the moment, with the bench we have,' Wenger added. 'We are very, very young. We lost players through injuries and suspensions.'

In total, 10 were absent. Cesc Fabregas was rested - Denilson again proving an able deputy - but the players missed most were the strikers.

Besides the absent Adebayor, Thierry Henry and Robin van Persie were both injured.

'When you lose, there is always a lesson,' Wenger rationalised. 'We are punished because we did not take our chances over two games and Blackburn took the only chance they created over 180 minutes.'

That can be a hard luck story, but it also reflects on McCarthy's clinical finish and Wenger's choices.

Explaining the switch of Senderos, Wenger said: 'We lost Johan Djourou, we lost Eboue, we have no Justin Hoyte. Armand Traore had hamstring problems.'

But he had one of the Premier League's finest right-backs, William Gallas - but opted to leave him in his preferred position in the centre of defence.

It backfired.

There was one tale of defensive excellence as, for the fourth successive game, Blackburn goalkeeper Brad Friedel was not beaten.

It meant Rovers, the first English side to stop Arsenal from scoring at the Emirates Stadium, kept another clean sheet against them.

It shows a rapid improvement after leaking eight in their two Premier League encounters with Wenger's side.

It is rare for Arsenal to draw a blank, and their manager believes they should not have done.

Both Jeremie Aliadiere and Fredrik Ljungberg had penalty appeals rejected.

'We could make a good tape since the beginning of the season,' added Wenger, who believes his side have been refused too many spot-kicks.

'And in the first game, there was a 100 per cent one,' referring to a tackle by Stephen Warnock on Aliadiere.

It could be described as the turning point in the tie. But so could McCarthy's magnificent strike or, as Wenger would insist, the FA's decision to ban Adebayor.

stsports@sph.com.sg

News Today

Bad boy Bellamy
2000: Sent off against Belarus. First Wales player to be sent off in five years. 2001: Angered former club Coventry after calling them 'rubbish'. Claimed he took a backward step by moving there from Norwich.Feb 2002: Cautioned for assault after hitting... [Read more]

Grouping feels force of emerging economies
ESSEN (GERMANY) - CHINA joined the Group of Seven (G-7) nations for talks on the global economy on Saturday, marking an effective expansion of the club which may also admit other emerging economic powerhouses to almost double its size. German Finance... [Read more]

Companies in brief
COURTS SOUNDS PROFIT WARNING DUE TO THAI LOSSESTHE furniture and electronics retailer Courts (Singapore) issued a profit warning yesterday, flagging losses incurred by its operations in Thailand.The group said it expects to be in the red for the third quarter ended... [Read more]

Russian and Qatar groups join Hinduja's bid for Essar
MUMBAI - INDIA'S Hinduja Group has teamed with Qatar Telecom and Russia's Altimo in its bid for control of fourth-biggest Indian mobile operator Hutchison Essar, newspapers said yesterday. Hinduja, with Qatar Telecom and Altimo, have submitted a 'binding bid' for the... [Read more]

KL proposes strategic alliance with New Delhi
NEW DELHI - MALAYSIAN Foreign Minister Syed Hamid Albar has suggested that a 'strategic alliance' be set up between his country and India. Datuk Seri Syed Hamid, who was to have arrived in India last night on an official visit, told... [Read more]

Award-winning acts at River Hongbao
THE stage is set, the performers are here and the costumes - in auspicious red and gold - are pressed and ready. The Singapore River Hongbao 2007 starts today, with song and dance performances and fireworks at 8pm at the Esplanade... [Read more]

Thailand may reopen old airport for domestic flights
BANGKOK - THAILAND'S Transport Ministry wants the country's old airport at Don Muang reopened for domestic flights while repairs are carried out at Suvarnabhumi International Airport. The move will be recommended to the Cabinet on Feb 6, Transport Minister Thira Haocharoen... [Read more]

Els betters Woods
BRITAIN'S Graeme McDowell and Ross Fisher upstaged the elite of world golf yesterday.They shared the lead on seven-under-par 65, after the first round of the Dubai Desert Classic. They eclipsed three-time champion Ernie Els, who fired a 66 earlier in the... [Read more]

Sirens to be sounded today
SIRENS will sound islandwide today at 12.05pm, as part of Total Defence Day.The exercise also serves to familiarise people with the Public Warning System (PWS) and the three emergency signals.When the sound is heard, people can tune in immediately to any... [Read more]

Man who made ITE world class calls it a day
THE first time he was asked to head the Vocational and Industrial Training Board, Dr Law Song Seng said 'No'. That was 1981, and the board's premises in Ayer Rajah were nothing to shout about. When it rained, the ceiling leaked.... [Read more]

Four new lifestyle groups for members
'AKAN datang'' (Malay for coming soon) will be more affordable and fun activities for workers.That was what the National Trades Union Congress' (NTUC) new secretary-general Lim Swee Say promised as part of the organisation's workplan this year to care for its... [Read more]

News Updates

Getting a warm reception
One year into the job, Four Seasons Hotel's Karene Lim has made a splash internationally - as the world's No. 1 receptionist. Miss Lim, 21 and fresh out of Temasek Polytechnic, beat 11 of the world's best front-desk staff to win... [Read more]

Complex factors at play in spat over Thaksin
BANGKOK - BANGKOK'S Sathorn Road, where the Singapore Embassy is located, is sometimes referred to as 'Little Singapore' because of all the Singapore-owned businesses and buildings in the area. That reflects the fact that Singapore is one of Thailand's largest investors... [Read more]

Pigging out on stamps galore
A SPECIAL stamp exhibition launched yesterday promises to give visitors an insight into the origins and traditions of the Chinese New Year. The Spring Flowers and Autumn Moon exhibition, at the Singapore Philatelic Museum in Coleman Street, will continue during the... [Read more]

Chicks are Us!
What it should have beenThe table of unit trust prices published in page H16 in the Money section yesterday was inaccurate. The correct version is published today.... [Read more]Long drive aheadThe lighted ceiling of the Zhongnan Mountain Tunnel is part of... [Read more]

Bangkok blast suspect 'linked to attacks in south'
YALA - INVESTIGATORS said yesterday that a suspect in the deadly New Year's Eve blasts in Bangkok may have links to the Islamic separatist insurgency in southern Thailand.Until now, the Thai government has denied any link to the southern unrest and... [Read more]

Year of the Pig
Surge expected in number of newborns as those born in pig years are lucky with moneyFor the 1.3-billion strong Chinese people, this Sunday marks the start of the "year of the pig," according to the Chinese lunar calendar.The pig is one... [Read more]

World Quickly
HIGH-TECH EXPORTS TO CHINA 'OK'WASHINGTON: US President George W. Bush has certified a private-sector sale to China of high-tech products linked to its railway system and its testing of parts for Boeing aircraft.In a legally required ruling, Mr Bush certified that... [Read more]

Asean Charter a bold step forward, Arroyo says in Davos
DAVOS (SWITZERLAND) - AT A time when the Doha Round of world trade talks appears shaky, Asean is proclaiming it is wedded to global trade. Recounting Asean's evolution at the World Economic Forum (WEF), Philippine President Gloria Arroyo said the association... [Read more]

Honda to recall 45,000 sedans worldwide
TOKYO - HONDA plans to recall 45,335 Civic Hybrid sedans worldwide to repair an electrical defect that could stop the cars' engines, the company said yesterday. Japan's No. 2 carmaker plans to recall 7,219 of the vehicles sold domestically and another... [Read more]

Just 8% of SMEs took govt loan? That's good sign
ONLY 8 per cent of small and medium enterprises (SMEs) last year took a loan under a government scheme to help them.But Trade and Industry Minister Lim Hng Kiang saw this as a positive sign. 'It's good that our SMEs are... [Read more]

Malaysia-Indonesia ties 'at highest level ever'
JAKARTA - TIES between Malaysia and Indonesia are at their highest point ever, says Malaysian Prime Minister Abdullah Badawi. The close and constructive ties between the two countries, he said yesterday, encompassed almost every area, from diplomacy and trade, to culture... [Read more]