Think Positive

Singapore PM Lee does not see children joining politics

2012-01-27T10:07:00.003+08:00

Prime Minister Lee Hsien Loong, the son of Singapore’s founding father Lee Kuan Yew, said Thursday that he does not think that his children will enter politics.

1.2b yuan payout for oil spill ‘an insult’

2012-01-26T18:41:00.001+08:00

CNOOC and US partner’s deal with ministry to compensate fishermen in Bohai Sea dismissed as a drop in the ocean considering extent of damage

Foreign investors waking up to risks in China firms

2012-01-25T10:27:00.001+08:00

Chinese government uneasy over loophole firms use to raise funds

Black Water Dragon ‘to cause trouble’

2012-01-22T17:00:00.001+08:00

As if there was not already enough doom and gloom in the world, we now have to contend with the appearance of a Black Water Dragon.

Beijing targets trusts to stem shadow banking risks

2012-01-20T18:20:00.002+08:00

China is intensifying its cat-and-mouse pursuit of the 4 trillion yuan ($635 billion) investment trust industry, with credit risks on the rise as economic growth slows.

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Popular file-sharing website Megaupload shut down

2012-01-20T10:30:00.002+08:00

One of the world's most popular file-sharing sites was shut down Thursday, and its founder and several company officials were accused of facilitating millions of illegal downloads of films, music and other content.

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Photography pioneer Kodak files for bankruptcy

2012-01-20T10:26:00.001+08:00

Eastman Kodak Co, the photography icon that invented the hand-held camera, has filed for bankruptcy protection and plans to shrink significantly, capping a prolonged plunge for one of America's best-known companies.

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Megaupload.com site shut down, seven indicted in US

2012-01-20T10:23:00.003+08:00

Megaupload.com, one of the world's largest file-sharing sites, has been shut down and seven people charged with copyright infringement and other crimes, US authorities announced.

Middle class in Africa grows to 34.3% on solid economic growth

2012-01-20T10:05:00.003+08:00

Africa's middle class has tripled over the last 30 years, with fully one in three now considered above the poverty line but not among the wealthy, according to the African Development Bank (AfDB).

Battle for control of Asia’s seas goes underwater

2012-01-19T17:15:00.003+08:00

It’s getting a bit more crowded under the sea in Asia, where Andrew Peterson commands one of the world’s mightiest weapons: a $2 billion nuclear submarine with unrivaled stealth and missiles that can devastate targets hundreds of miles (kilometers) away.

Lamborghini’s roaring decade in Singapore

2012-01-18T20:10:00.003+08:00

Melvin Goh sells cars to people who do not intend to drive them. As his dealership EuroSports Auto celebrated a decade of officially distributing Lamborghinis last year, all Mr Goh would have needed as a progress report was a languid wave at a Lamborghini Reventon Roadster.

English Premier League finds China a struggle

2012-01-18T20:09:00.003+08:00

English soccer’s Premier League may have to give away its television rights for free to build its fan base in China.

DBS’s disclosure on ATM security in the spotlight

2012-01-18T20:04:00.003+08:00

Two Bugis ATMs in Nov card-skimming scam didn’t have key security feature on

Chinese New Year launch for Watertown at $1,080 psf

2012-01-18T20:03:00.003+08:00

The residential component of Watertown, a mixed-use project in Punggol, will be hitting the market this Chinese New Year, with an indicative pricing of $1,080 per square foot (psf).

Deals to dig Down Under

2012-01-18T19:58:00.001+08:00

The year ahead promises fierce competition for Australian mining assets, with Japanese, South Korean and US firms challenging Chinese buyers

China foreign inflows drop in December

2012-01-18T19:54:00.003+08:00

Foreign direct investment in China rose 9.7 per cent last year to a record US$116 billion, though December’s inflow of US$12.24 billion was down 12.7 per cent versus year-ago levels, the Commerce Ministry said on Wednesday.

Prices plunge as China turns sour on top Bordeaux

2012-01-18T15:27:00.003+08:00

Speculators and China’s super-rich have turned sour on Bordeaux’s most prestigious, investment-grade wines, causing a deep dip in prices, year-end figures have revealed.

Italian fashion house says sorry to Hong Kong

2012-01-18T15:20:00.003+08:00

Italian clothing chain Dolce & Gabbana on Wednesday apologised to the people of Hong Kong for allegedly discriminating against them in favour of wealthy mainland shoppers.

Porsche Buyer Demands Refund, Beseiges Dealership with Protest

2012-01-13T13:23:00.000+08:00

Porsche accused of “quality problems”, denounced by hundreds of protestors besieging showroom

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China Must Reform to Beat Shadow Lending, Loan Sharks

2012-01-12T19:15:00.003+08:00

China must bring to heel an estimated $1.6 trillion shadow banking system if it is to deflate enormous asset bubbles fuelled by unregulated lending and stop small firms from getting forced to look to loan sharks for working capital.

How China’s model is moving from boom to bust

2012-01-11T19:09:00.003+08:00

Even China? Could the world’s economic juggernaut, having grown an average of 10 per cent annually for three decades, face a slowdown or what for China would be a recession?

Does it have a real estate ‘bubble’ about to ‘pop’? What would be the global consequences? Treasury Secretary Timothy Geithner visits China and Japan this week. These questions form a backdrop. With Europe’s slump and America’s sluggish economy, a sizable Chinese slowdown would be bad news.

Red wine may inhibit breast cancer: US study

2012-01-10T02:27:00.003+08:00

Red wine may have some effect in inhibiting the hormone that causes breast cancer, a study has found.

What China Can Teach Europe

2012-01-10T00:17:00.003+08:00

From the outside, China often appears to be a highly centralized monolith. Unlike Europe’s cities, which have been able to preserve a certain identity and cultural distinctiveness despite the homogenizing forces of globalization, most Chinese cities suffer from a drab uniformity.

Spectre of ‘ghost hotels’ haunts China

2012-01-10T00:14:00.002+08:00

5-star inns rise, but there are few guests

Local govt loans threaten China’s financial system

2012-01-10T00:13:00.003+08:00

Several provinces’ debt-to-GDP ratio tops national figure

Malaysian Opposition Leader Acquitted in Sodomy Trial

2012-01-09T12:50:00.003+08:00

Ending a politically charged two-year trial, Malaysia’s High Court acquitted the country’s opposition leader, Anwar Ibrahim, of sodomy charges on Monday.

A new leadership takes root

2012-01-08T22:20:00.003+08:00

A rush of appointments sees a host of new, highly educated under-60-year-olds graduate to top posts - and a springboard to China’s ultimate power base

Marriage headed for the rocks on mainland

2012-01-08T21:56:00.005+08:00

While men want passion, women want money and the sums just don’t add up, survey shows

Chinese held for firebomb attack at Japan embassy in Seoul

2012-01-08T14:58:00.003+08:00

A Chinese man who reportedly said his grandmother was one of many thousands forced into prostitution for the Japanese army during World War Two was arrested on Sunday for a firebomb attack at the Japanese Embassy in Seoul, police said.

Home ownership after 2047? It’s risky

2012-01-07T18:12:00.003+08:00

There is no guarantee that you will own your flat forever.

Shanghai flies the flag for expats in pension scheme row

2012-01-07T18:04:00.003+08:00

Fearing loss of foreign investment, the municipal government stalls over implementing unpopular rule

Mainland mulls expanding tax to more cities

2012-01-07T17:53:00.003+08:00

Guangzhou, Nanjing next to face levy on property deals after trial runs in Shanghai, Chongqing

Now is the time for Japan to build Shenzhen of its own

2012-01-07T17:36:00.003+08:00

China’s neighbour has lost sight of the policy innovation and vibrancy that once propelled it

Worries Grow as China Land Sales Slump

2012-01-07T15:54:00.002+08:00

Land sales slowed sharply in China last year, according to a series of industry reports that highlight the deepening woes of debt-laden local governments that depend on land auctions as a crucial revenue source.

Private Chen’s Family Learns More About Hazing by Fellow G.I.’s

2012-01-07T15:53:00.003+08:00

The officers in command of the battalion of Pvt. Danny Chen, who the Army says committed suicide in Afghanistan in October after being hazed by fellow soldiers, were aware of the harsh treatment he had repeatedly received, his family said Thursday.

Some return units to developers, fearing price dip

2012-01-07T15:44:00.003+08:00

They prefer to forfeit 1.25% of unit price; developers still sanguine

I Honestly Love You - Oliva Newton John

2012-01-07T04:34:00.002+08:00

Forbes China: Top ten safest countries for Chinese overseas investment

2012-01-05T16:28:00.003+08:00

Forbes China has released its first overseas investment "risk list" for Chinese investors. Like all risk rankings, they gauged things like regional political stability, government corruption, legal system factors, and indicators of social stability and economic opportunities. Whether the Chinese follow these risk assessments is another thing entirely.

Lafite 2008 value halves as fine wine prices fall

2012-01-05T02:17:00.000+08:00

Fine wine prices in 2011 showed their most dramatic fall since 2008 – with some values dropping by nearly half.

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Chinese Retailer Casts Doubt on TV Investigation

2012-01-04T14:59:00.003+08:00

Last July, China’s biggest state-run television broadcaster accused a luxury retailer named DaVinci Furniture of passing off low-quality goods from a factory in southern China as premium imports from Italy and other foreign lands.

Now, DaVinci has pointed the cameras and microphones back at the broadcaster, according to a report in current issue of the weekly magazine Caixin. The magazine is regarded as one of the most authoritative business publications in mainland China.

Singapore to slash ministers’ million-dollar pay

2012-01-04T14:16:00.003+08:00

Singapore will slash its top politicians’ unpopular multimillion-dollar salaries by at least a third, a new salary scale showed Wednesday, but its ministers will stay among the best paid in the world.

The way of the dragon

2011-12-29T20:18:00.003+08:00

Greater China will be looking to draw on all the symbolism of the mythical creature in 2012 as it confronts transition and a world in a state of flux

Global economic crisis hits China’s exporters

2011-12-29T20:14:00.001+08:00

As orders have tailed off, the cost of raw materials and labour have surged, with workers striking to demand higher pay.

China property market in crisis

2011-12-29T13:33:00.003+08:00

Beijing’s pricking of the real estate bubble is resulting in a price war among developers desperate to survive, fuelling severe domestic and global repercussions

Wall Street jobs no longer an Ivy dream amid turmoil

2011-12-29T11:35:00.003+08:00

America's 'best and brightest' are veering away from finance careers as investment banking goes bust

Asia may feel like world's ending next year

2011-12-29T10:36:00.003+08:00

Here are eight risks that may get in Asia's way:

China needs new policy course as capital tide turns

2011-12-28T16:15:00.003+08:00

China’s economy has surfed for years on a crest of hefty capital inflows, but the tide that brought gains in money supply is turning as global growth slows.

China real-estate prices must fall further: AgBank

2011-12-28T16:13:00.003+08:00

Government adjustments to housing prices should aim for an up-to-25% downward revision, according to a report by Agricultural Bank of China, one of China’s big four state banks.

We won’t fall like USSR, Beijing vows

2011-12-28T13:48:00.003+08:00

Articles mark 20th anniversary of Soviet collapse by pledging that China will adhere to its stability-based growth model, despite mounting challenges

China’s eyes in the sky ‘go public’

2011-12-28T13:46:00.002+08:00

Beijing makes its home-grown Beidou satellite navigation system available for civilian use, posing a challenge to American dominance in the field

Mengniu shares sink after new scandal

2011-12-28T13:24:00.003+08:00

China Mengniu Dairy lost one-fifth of its value on Wednesday after its shares plunged 26 per cent to their lowest level in more than two years after the nation’s biggest dairy company was hit by a tainted milk scandal over the Christmas holiday.

Carriers out to catch fake pilots if they can

2011-12-28T11:46:00.003+08:00

Expanding mainland airlines seeking more staff are on alert for foreigners with fake credentials

Time Malaysia’s Proton took leave of Lotus

2011-12-28T10:53:00.003+08:00

With state divesting itself of national carmaker, unprofitable British unit appears likely to be sold

China's other drug trade

2011-12-27T13:59:00.003+08:00

The profits are on a par with that for illegal drugs, and the risks of getting caught far lower: no wonder the mainland's fake-medicines industry is growing, and that legal businesses are increasingly involved

China emerges as new job frontier for West’s youth

2011-12-27T12:04:00.002+08:00

Hundreds of US, European interns are flocking to Asia for experience as work dwindles at home

Law to hit visitors working illegally

2011-12-27T11:57:00.003+08:00

Legislators discuss fines, deportation for foreigners entering, working or staying on mainland illegally; draft law would also offer residency for role models

China official says Wukan protest shows rights demands on rise

2011-12-27T10:59:00.003+08:00

The senior Chinese official who helped defuse a standoff with protesting villagers has told officials to get used to citizens who are increasingly assertive about their rights and likened erring local governments to red apples with rotten cores.

‘Arab Spring’ movement goes viral worldwide

2011-12-27T10:38:00.003+08:00

All it took was a match from a 26-year-old Tunisian vegetable seller, Mohamed Bouazizi, in the city of Sidi Bouzid to start the fire of revolution sweeping through many parts of the Arab world.

Hard landing in China? Not in 2012: analysts

2011-12-27T10:34:00.002+08:00

Politics is the main reason - it’ll be a year leading up to a power transfer in early 2013

A Village in Revolt Could Be a Harbinger for China

2011-12-26T11:47:00.005+08:00

“What happened in Wukan is nothing new. It’s all across the country,” said Liu Yawei, an expert on local administration who is the director of the China program at the Carter Center in Atlanta.

Hong Kong remembers 'Black Christmas' of 1941

2011-12-25T17:24:00.003+08:00

Christmas is a day of sombre remembrance for veterans of the second world war battle of Hong Kong, which fell to the Japanese on this day 70 years ago after 18 days of desperate fighting.

Shanxi coal chief fired as graft probe launched

2011-12-24T19:42:00.003+08:00

Shanxi’s provincial government has sacked the head of China’s biggest coking coal company after the arrest of two robbers who stole more than 50 million yuan (HK$61 million) worth of cash and valuables from his home last month.

Future sold down the river

2011-12-24T19:37:00.003+08:00

Beijing officials are proud of the restoration of a section of the Yongding, but greens say it's a waste of money and ignores an environmental crisis

Ethics training for officials far too late

2011-12-24T19:35:00.003+08:00

Civil servants are having classes in moral standards: but the real problem is a lack of proper supervision

Nanjing massacre movie whips up passions as Noda visits

2011-12-24T18:58:00.003+08:00

'What horrible people the Japanese are,' said student Zhao Lan, after watching the movie. 'How can they be that crazy and mad!'

Singapore sits moodily atop wealth pole

2011-12-24T18:13:00.003+08:00

A disproportionate number of Singaporeans are among the world's wealthiest. So why the blues?

Chinese banks lure depositors despite warnings

2011-12-24T16:03:00.003+08:00

On a recent brisk Beijing morning, the competition for depositors was in full swing at a Bank of Communications branch office.

China local debts dwarf ambitions

2011-12-24T15:37:00.001+08:00

Provinces go deeper into the red to finish projects - from the Manhattan to highways to a stadium fronted by Olympic rings

A tax weapon that cuts both ways

2011-12-24T15:33:00.001+08:00

Government needs invoices to assess taxes but firms avoid issuing them by giving clients freebies

Prices of resale HDB flats seen correcting

2011-12-23T12:56:00.003+08:00

While HDB resale prices are expected to remain stable in 2012, with marginal softening of the COVs (cash-over-valuation), leading to an overall price correction of between 1 and 5 per cent, sales volumes could fall slightly as buyers assess their options beyond the resale market.

Rule change would stop firms hoarding land

2011-12-23T11:22:00.003+08:00

Mainland property developers should start construction on idle sites within three months of receiving a government order, according to the latest amendments to draft rules aimed at curbing land hoarding.

Beijing keeps brakes on for homebuyers

2011-12-22T11:15:00.002+08:00

Curbs designed to slow down housing development and limit price rises look set to stay in place in many mainland cities, sparking fears of a market slide

Party chief rant lights debate

2011-12-22T10:50:00.003+08:00

One city official has brought on praise and mockery over remarks to villagers protesting against land seizures

Governments in a Hole as Land Sales Plummet

2011-12-20T12:53:00.003+08:00

House-price controls have succeeded, but a subsequent property market slowdown is chilling China’s local governments

China another danger spot in world economy

2011-12-20T11:32:00.003+08:00

The property bubble - much of it fuelled by credit from the unregulated shadow banking system - is visibly bursting

Cher - If I Could Turn Back Time

2011-12-19T14:29:00.002+08:00

As U.S. Looks to Asia, It Sees China Everywhere

2011-12-18T21:48:00.003+08:00

The last time the remote Australian city of Darwin played a significant role in American military planning was during the early days of World War II, when Gen. Douglas MacArthur used the port as the base for his campaign to reclaim the Pacific from the Japanese.

Her cheating heart

2011-12-18T20:24:00.002+08:00

More wives are straying; changing social attitudes and earning power of women among reasons

As markets plunge, Asia's wealthy flock to art

2011-12-18T20:22:00.002+08:00

In a spacious, luxury apartment perched on the leafy hills of Hong Kong, Kai-Yin Lo browses through a trove of Chinese art acquired over several decades, reflecting how her niche, scholarly pursuit has now hit the mainstream.

China villagers threaten to march on government offices

2011-12-18T16:01:00.003+08:00

Protesting villagers in southern China said they will march on government offices this week unless the body of a local leader is released and four villagers in police custody are freed.

New breed of Chinese nationals making their way to Singapore

2011-12-18T14:17:00.001+08:00

Now that she has made it to the promised land, Hunan native Gong Yan is determined that her new life in Singapore is going to work out even if it did not start out quite as planned.

Dealers raise discounts to spur luxury car sales

2011-12-18T14:03:00.003+08:00

Mercedes-Benz and BMW cut prices on the mainland as slowing property and stock markets hit buyers

Foreign schools venturing into smaller cities

2011-12-18T13:49:00.003+08:00

Harrow. Dulwich. Wellington. These brand-name British public schools have all set up shop in China, with one of them venturing beyond the big cities of Beijing and Shanghai.

Odds on a hard landing for China’s economy rising fast

2011-12-17T16:33:00.001+08:00

It’s not just financial markets that are painting a grim picture. China’s real economy is also sending ominous signals of a slowdown in the property market

U.S. Navy eyes stationing of ships in Singapore

2011-12-17T16:30:00.002+08:00

The U.S. Navy, underscoring the importance of “operating forward” amid tightening budgets and increasing threats to free seas, will station several of its new littoral combat ships in Singapore in coming years and is considering similar arrangements in the Philippines.

Imagine - John Lennon

2011-12-16T00:36:00.000+08:00

We are the champion - Queen

2011-12-16T00:11:00.002+08:00

Singaporeans dumping cars in Johor to claim insurance?

2011-12-15T20:00:00.003+08:00

A Johor state assemblyman has alleged that Singaporeans are dumping their cars in Johor and claiming insurance on the pretext that the vehicles were stolen.

An ancient punishment returns to haunt China

2011-12-15T19:56:00.003+08:00

Extended culpability for food safety lapses sets bad precedent for nation

New China sovereign fund of US$300b on the way

2011-12-15T08:54:00.003+08:00

It will invest in real assets, given the dismal returns on US, Europe bonds

Chinese wines beat French in tasting, but it's not best vs best

2011-12-15T00:07:00.002+08:00

Chinese wines took the top four places in a China vs Bordeaux blind tasting competition on Wednesday, but it wasn't exactly a thrashing of the world's most elite wines by Chinese upstarts.

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Hara-kiri, British-style

2011-12-14T10:57:00.003+08:00

Is David Cameron putting his personal interests above those of the nation or is he just extraordinarily inept?

Remembering the massacre at Nanjing, 74 years later

2011-12-14T00:15:00.002+08:00

China’s toxic shroud of secrecy

2011-12-12T22:09:00.002+08:00

Calls are growing throughout the country for mainland authorities to admit that smog is choking the nation and release data on the deadliest particles

Marine base will not limit China, US says

2011-12-12T21:07:00.001+08:00

Major deployment of marines in Darwin is about ties with Australia and there is no plan to contain Beijing in the region, defence envoy tells PLA chief

YEAH RIGHT, CUT THE BULLSHIT

Credit-cards-only rule to fight graft

2011-12-12T21:05:00.002+08:00

Most expenses can no longer be paid in cash, officials told, as government seeks to curb abuse of public funds and assuage widespread anger over corruption

Investors say China heading for crisis

2011-12-12T21:02:00.002+08:00

Amid signs of a downturn, a global financial industry survey shows a pessimistic outlook for the mainland economy in the next five years

China reels in the pirates

2011-12-12T20:44:00.003+08:00

A decade after it joined the WTO, China has made strides in its war on piracy, but experts say the government’s controls are not watertight

Massive stock scheme revealed

2011-12-12T16:18:00.002+08:00

Mainland regulators uncover 426 million yuan trading scam, but analysts say more must be done to address manipulation of the stock market

Global players’ woe over logistics boom

2011-12-12T16:12:00.006+08:00

An expanding domestic logistics market on the mainland is squeezing out the big global firms and will see a Chinese rival grow in size to match them, say experts