Asia’s richest woman Gina Rinehart said Australia should follow the example of Singapore ’s former prime minister to stimulate development of its northern regions. “The north has the potential to develop beyond our imaginations,” Rinehart, 59, said in a video presentation to a mining ...
Singapore Airlines Ltd. (SIA) , Southeast Asia’s biggest airline, posted a fourth-quarter profit as gains from sales of aircraft and spare engines helped it mask losses caused by cheaper fares to carry passengers and cargo. Net income in the three months ended in March was S$68.3 mill...
Asian Pay Television Trust , owner of Taiwan ’s third-largest cable television operator, raised S$1.39 billion ($1.1 billion) in an initial public offering in Singapore, said two people with knowledge of the matter. The trust, which owns Taiwan Broadband Communications Co., sold 1.44 ...
Crown Ltd. (CWN) , the gaming company controlled by billionaire James Packer, chose one of the architects of Singapore ’s Gardens by the Bay project to build a casino tower planned for the shores of Sydney’s harbor. Wilkinson Eyre Architects, which also designed the 440-meter Guangzho...
Singapore ’s April home sales dropped 51 percent from a record in March as developers marketed fewer projects as residential prices posted the smallest gain in three quarters. Home sales fell to 1,375 units in April, according to data from the Urban Redevelopment Authority released to...
Singapore police accessed an external hard drive found at the home of American research engineer Shane Todd, the FBI said, rather than an unknown person as asserted by his family to support its claim he was murdered. The hard drive has been a subject of contention with Todd’s father R...
Argentines are buying more BMWs, Jaguars and other luxury cars as a store of value as inflation decimates their deposits and pummels the nation’s bonds. Purchases of cars from Germany ’s Bayerische Motoren Werke AG (BMW) and Jaguar Land Rover Automotive Plc, owned by India ’s Tata Mot...
Christie’s International set a record auction price for a Rolex wristwatch yesterday as Sotheby’s (BID) offers a jewelry collection owned by Italian actress Gina Lollobrigida in this spring’s Geneva auction season. The 1942 split-second Rolex chronograph, described by Christie’s as th...
Juerg Buergin, a former UBS executive director of operations sentenced to prison for having sex with an underage prostitute in Singapore , has filed an appeal of his conviction, his lawyer said. Buergin, 41, who is in Admiralty West Prison, hasn’t appealed the sentence in the filing y...
Singapore’s state counsel said U.S. research engineer Shane Todd was found hanging from a black strap in front of a door in his home when the police found him. Todd, who was 31 when he died in June last year, was in a standing position with a white towel wrapped around his neck, Senio...
Juerg Buergin, a former UBS AG (UBSN) executive director of operations, was sentenced to four months and three weeks in prison for having sex with an underage prostitute in Singapore. Buergin showed no sign of remorse by standing trial and claiming he was a victim of deception by the ...
Singapore ’s dengue cases are set to surge to a record this year, prompting the government to break into homes that could be breeding grounds for mosquitoes that transmit the disease. The number of cases could reach 23,000 in the city-state this year, based on the trend of a fivefold ...
Commercial banks may create digital currencies to rival Bitcoin, the virtual money whose U.S. dollar value collapsed by 46 percent in 24 hours last month, the head of New Zealand’s banking lobby said today. Banks noticed the low cost of international Bitcoin transfers, and some may lo...
Genting Singapore Plc (GENS) , one of two companies licensed to run casinos in the city state, dropped the most in three years after reporting first-quarter profit plummeted 44 percent. Genting slid as much as 9 percent to S$1.465, headed for the biggest decline since January 2010, be...
The ratio of a bank’s Tier 1 capital to its risk-weighted assets accounted for 40 percent of each bank’s overall score. The ratio of nonperforming assets to total assets got a weighting of 20 percent, as did the ratio of reserves for loan losses to nonperforming assets. The ratio of d...
Former UBS AG (UBSN) Executive Director Juerg Buergin was convicted of two charges of having paid sex with an underage prostitute in Singapore, with the judge saying that mistaking a minor’s age isn’t a defense. Singapore’s laws impose a higher standard of care to prevent the sexual e...
Singapore’s wages will grow at a faster pace in 2013, contributing to higher labor costs and price pressures even as the economy expands at a “modest” pace, the central bank said today. The island’s job market will remain “tight” this year as demand for workers outpaces supply amid th...
The traditional feast in February after the Lunar New Year was the latest annual retreat between the sons of former leaders, whose fathers were more likely to hurl accusations than culinary delicacies. After half a century of fighting over everything from a pile of rocks in the ocean,...
Air France will begin serving Shanghai three times weekly with Airbus SAS double-decker A380s, taking superjumbos off its Paris-to-Singapore line for use on the China route. Air France serves Singapore seven times weekly, currently four times weekly with A380s and three times a week w...
The slump in silver this month has spurred demand for products from Silver Bullion Pte, one of Singapore’s largest suppliers of coins and bars to retail investors, depleting inventories and doubling delivery times. Holdings of bars fell to just 54 ounces from 60,000 ounces two and a h...
April 24 (Bloomberg) -- David Marcus, president of EBay Inc.'s PayPal unit, talks about mobile payment security and the prospects for virtual currency bitcoin. He speaks with Guy Johnson on Bloomberg Television's "The Pulse." (Source: Bloomberg)
Singaporean Richard Mui joined the ranks of the world’s longest-living retirees when his career ended in 2010. Three years on, the 54-year-old can no longer afford to pay his father’s medical bills, and worries about putting his two children through university. Almost half a century a...
Singapore Exchange Ltd. (SGX) , operator of Southeast Asia ’s biggest bourse, said it’s reviewing procedures after derivatives trading was delayed by a computer breakdown last week, sending investors to alternate venues. The three-hour delay, caused by a faulty system-monitoring proce...
April 16 (Bloomberg) -- Matt Miller reports on the Bitcoin phenomena reaching Argentina on today's "Global Outlook" on Bloomberg Television's "Street Smart." (Source: Bloomberg)
George Frey/Bloomberg There are a little more than 11 million Bitcoins in existence. The software that governs the network will allow no more than 21 million coins to be created. Banned from buying dollars and confronted by the fastest inflation in the Western Hemisphere, some Argenti...
Tycoon Cheng Wai Keung’s plan to sell Singapore’s most expensive private property faces the dual challenge of additional government taxes designed to cool the market and restrictions limiting the sale to locals. Wing Tai Holdings Ltd. (WINGT) Chairman Cheng is seeking a record S$300 m...
Here's a puzzle: How can a virtual currency, existing in digital form on computer hard drives, demand real power and real fuel, and have real-world environmental costs? If you're struggling to think of an answer, welcome to the world of "Bitcoin mining." As a lot of folks know now, th...
Singapore’s economy unexpectedly contracted last quarter as companies grappled with a labor shortage and exports faltered amid an uneven global recovery. Gross domestic product shrank an annualized 1.4 percent in the three months through March 31 from the previous quarter, when it ros...
If you wanted to make the case for Bitcoin as a feasible and useful digital currency, yesterday wasn’t the best day to do so. According to Mt. Gox, the largest Bitcoin exchange, the currency started out at $230, spiked to $266, touched a low of $105 and then settled at just above $170...
Qantas Airways Ltd. (QAN) , Australia’s largest carrier, said it’s managing to fill a surge in capacity to Singapore from its tie-up with Emirates as economic growth encourages travel demand in Asia. The airline, which increased seats to Singapore by 40 percent from the alliance, is s...
