bloomberg.com Archives - 02 April 2013, Tuesday

  • Obama Says Singapore Key to U.S. Rebalancing Toward Asia

    Obama Says Singapore Key to U.S. Rebalancing Toward Asia

    bloomberg.com 02 Apr '13, 7pm

    President Barack Obama called Singapore “one of the most successful countries in the world” and expressed appreciation for its military and economic cooperation, part of his administration’s foreign policy shift toward Asia. Singapore has provided “a steady vision of how countries in ...

  • Ex-Chinese Official Gets 15 Months Jail in Singapore

    bloomberg.com 02 Apr '13, 8am

    Li Huabo, a former local government official accused of a 94 million yuan ($15 million) fraud in China , was sentenced to 15 months in jail for receiving stolen money in his Singapore bank accounts. Judge Siva Shanmugam said Li’s crimes involved some degree of sophistication when hand...

  • Vitol Group Starts Global Grain Trading From Singapore, Geneva

    bloomberg.com 02 Apr '13, 8am

    Vitol Group, the world’s largest independent oil trader, began trading global grain markets from Singapore and Geneva, with support from staff in Canada and Germany to start next month. The team will be headed by Don Chapman, based in Vancouver , the Geneva-based company said in a sta...

  • UBS Says Singapore Traders Fired for Serious Misconduct

    bloomberg.com 02 Apr '13, 5am

    UBS AG, sued for wrongful dismissal by two former traders in Singapore , said they were fired for serious misconduct and won a bid to seal documents in the cases. “Premature disclosure of the bank’s investigation into the fired traders would hamper the bank’s ongoing probe into the ma...

  • Singapore Home Price Gains Slow Most in Three Quarters on Curbs - Bloomberg

    Singapore Home Price Gains Slow Most in Three Quarters on Curbs

    bloomberg.com 01 Apr '13, 1am

    Singapore home prices climbed at the slowest pace in three quarters after the government imposed more curbs such as higher stamp duties for housing transactions, a government report showed. The island state’s private residential property price index rose 0.5 percent to a record 213.1 ...

  • Billionaire

    Billionaire Modi Says Singapore Sex Drive Hinges on Housing

    bloomberg.com 26 Mar '13, 9pm

    Enlarge image Billionaire Modi Says Singapore’s Sex Drive Hinges on Housing Suhaimi Abdullah/Getty Images A couple pose for a photo at the Registry of Marriages in Singapore. Prime Minister Lee Hsien Loong is treading a line between reining in soaring property prices that put housing ...

  • Barclays investigating Singapore private banker over wrongdoing affecting client assets

    Barclays Investigating Singapore Private Banker After Dismissal

    bloomberg.com 26 Mar '13, 5am

    Barclays Plc (BARC) dismissed a Singapore- based private banker and is helping authorities investigate potential wrongdoing affecting clients’ assets. The banker was fired on Feb. 6 and the company is working with the white-collar crime investigation agency of the Singapore police for...

  • Ex-UBS Executive Has to Defend Underage Sex Charges, Judge Says

    bloomberg.com 25 Mar '13, 6am

    Juerg Buergin, a former UBS AG (UBSN) executive, must face trial on charges he paid for sex with an underage prostitute in Singapore, a judge ruled. Based on the evidence presented, the prosecution “has satisfied every ingredient of the charge,” Singapore subordinate courts judge Eddy...

  • Bitcoin: Virtual Currency Enters Real World

    bloomberg.com 22 Mar '13, 9pm

    Welcome to the real world, Bitcoin. The U.S. government has officially legitimized the popular crypto-currency and other "virtual currencies" by attempting to regulate them. The U.S. Treasury’s Financial Crimes Enforcement Network published a list of guidelines Monday applying money-l...

  • Bitcoin Fever: The World's Largest Online Currency: Video

    bloomberg.com 21 Mar '13, 3pm

    March 21 (Bloomberg) -- Sara Eisen takes a look at Bitcoin, what it is and how it's used. She speaks on Bloomberg Television's "Market Makers." (Source: Bloomberg) Please enable JavaScript to view the comments powered by Disqus.

  • Singapore’s OUE in Talks With Banks to Set Up Real Estate Trust -

    bloomberg.com 21 Mar '13, 6am

    Overseas Union Enterprise Ltd. (OUE) , which is buying California’s tallest building, said it’s in talks with banks to set up a real estate investment trust in the city-state. The Singapore real estate company “is always examining opportunities to improve shareholder value ,” OUE said...

  • Fleeing the Euro for Bitcoins

    bloomberg.com 20 Mar '13, 6pm

    Worried your government is going to take your savings? There's an app for that. Actually, there's an entire currency: Bitcoin, an online-only currency based on a decentralized network. It's unregulated, hard to track and increasingly common. Since Sunday, downloads of three Bitcoin-re...

  • Singapore REITs to Vary Funds on Interest Rates: Southeast Asia

    Singapore REITs to Vary Funds on Interest Rates: Southeast Asia

    bloomberg.com 18 Mar '13, 4pm

    Singapore’s property trusts , the second-best performers in Asia in the past year, may have to diversify funding sources as they aren’t prepared for an “interest rate shock,” according to Fitch Ratings . The city’s real estate investment trusts or REITs have been increasing short-term...

  • Singapore Disappointed by Senators' Bid to Block Funds - Bloomberg

    Singapore Disappointed by Senators’ Bid to Block Funds -

    bloomberg.com 18 Mar '13, 1am

    Singapore said it’s disappointed by a plan by two U.S. senators to block funding to a research institute until the Federal Bureau of Investigation gets full access in the probe of American Shane Todd’s death. Max Baucus and Jon Tester, both Montana Democrats, on March 14 introduced an...

  • Singapore February Home Sales Drop 65% After Government Measures - Bloomberg

    Singapore’s February Home Sales Decline to 14-Month Low on Curbs -

    bloomberg.com 15 Mar '13, 5am

    Singapore ’s home sales plunged 65 percent to a 14-month low in February after the government introduced its seventh round of cooling measures to cool record home prices. Home sales dropped to 708 units in February from a revised 2,016 units in January, according to data released by t...

  • Bob's Daily Buzzword: `Bitcoin': Video

    bloomberg.com 13 Mar '13, 6pm

    March 13 (Bloomberg) -- Bob Rice, general managing partner with Tangent Capital Partners LLC, explains "Bitcoin". (Source: Bloomberg) Please enable JavaScript to view the comments powered by Disqus.

  • Singapore's Car Permit Prices Fall Most in 4 Years on Loan Curbs - Bloomberg

    Singapore Car Permit Prices Fall Most in Four Years on Curbs

    bloomberg.com 13 Mar '13, 4pm

    The cost of Singapore vehicle permits fell by the most in more than four years after the government limited the amount of money banks are allowed to offer for car loans. The price of so-called certificate of entitlements, or COEs, plunged 37 percent for cars with an engine capacity of...

  • Tiffany & Co, Harry Winston to follow Louis Vuitton in raising prices to offset yen’s 11% slide |

    Vuitton to Tiffany Seen Pressured in Japan by Weaker Yen

    bloomberg.com 12 Mar '13, 9pm

    Enlarge image Vuitton to Tiffany Seen Pressured in Japan by Weaker Yen Kiyoshi Ota/Bloomberg A pedestrian walks past an Emporio Armani store, operated by Giorgio Armani SpA, in the Omotesando district of Tokyo. Japan’s economy has been mired in deflation for the last 15 years, prompti...

  • Singapore police to share evidence with FBI on death of U.S. engineer

    Singapore Police to Share Evidence With FBI on Death

    bloomberg.com 12 Mar '13, 12pm

    The Singapore police said it will share evidence with the U.S. Federal Bureau of Investigation relating to the death of Shane Todd, an American research engineer who worked in the city. “The Singapore Police Force and FBI have engaged in several discussions and are working together,” ...

  • Former U.S. President Bush’s Brother to Invest in Singapore Firm -

    bloomberg.com 12 Mar '13, 3am

    Former U.S. President George W. Bush’s brother will become the chairman of SingXpress Land Ltd. (SINX) as he invests in the Singapore-based real estate developer. The stock surged to an 11-month high. Neil Bush is buying shares of the company as it raises S$226.5 million through a rig...

  • ARA CEO Plans to Double Assets by Boosting Property Funds

    bloomberg.com 12 Mar '13, 3am

    ARA Asset Management Ltd. (ARA) , a manager of real estate trusts partly owned by billionaire Li Ka- shing, wants to double assets under management over five years as its private funds buy more properties. ARA, which manages about S$22.1 billion ($17.7 billion) of assets through real ...

  • Qantas Discounts Fares in Asia to Fill 40% More Singapore Seats

    bloomberg.com 12 Mar '13, 1am

    Qantas Airways Ltd. (QAN) , Australia’s largest carrier, is discounting flights to Asia to lure more passengers as an alliance with Emirates adds 40 percent more seats on routes to Singapore . The carrier has “still got a lot of capacity to fill” on aircraft flying to and from Asia, S...

  • #OpenFollow Kerry Briefed on U.S. Researcher's Singapore Death, Family Says - Bloomberg #Singapore

    Kerry Briefed on U.S. Researcher’s Singapore Death, Family Says -

    bloomberg.com 08 Mar '13, 6am

    A probe into the death of an American research engineer in Singapore was discussed at a meeting between U.S. Secretary of State John Kerry and Democrat Senator Max Baucus of Montana , the family of the deceased said. Rick Todd said the family disputed the Singapore police’s conclusion...

  • CapitaLand Drops on Housing Curbs Speculation: Singapore Mover

    bloomberg.com 08 Mar '13, 5am

    CapitaLand Ltd. (CAPL) headed for the lowest close in three months, leading declines among the city’s property stocks, on speculation the government will introduce additional measures to cool the housing market. Southeast Asia’s biggest developer sank as much as 3.5 percent to S$3.60 ...

  • Singapore Exchange plans to introduce Thai, Philippine futures

    Singapore Bourse Plans Thai, Philippine Futures

    bloomberg.com 07 Mar '13, 4pm

    Singapore Exchange Ltd. (SGX) will increase revenue from derivatives 10 percent to 15 percent this year as the operator of Southeast Asia’s biggest bourse introduces more products linked to benchmark stock indexes in the region, President Muthukrishnan Ramaswami said in an interview. ...

  • Singapore Ambassador Met U.S. Senator on Engineer's Death - Bloomberg

    Baucus Demands Answers on Engineer Death in Singapore

    bloomberg.com 06 Mar '13, 5am

    U.S. Senator Max Baucus said he is “nowhere close” to resolving his questions about the death of an American research engineer in Singapore . Baucus, a Montana Democrat, met on March 5 with Singapore’s ambassador to the U.S., Ashok Kumar Mirpuri, and said yesterday he has more meeting...

  • Maersk plans to add more vessels to its Singapore base

    Maersk Line to Add More Ships to Singapore Base: Southeast Asia

    bloomberg.com 06 Mar '13, 1am

    A.P. Moeller-Maersk A/S (MAERSKB) , owner of the world’s biggest container-shipping company, plans to add more vessels to its Singapore base after making the city-state its biggest hub after the headquarters in Denmark. Maersk has about 120 ships under the Singapore flag, the most aft...

  • FBI to Help Singapore Police in Probe of Engineer’s Death

    FBI to Help Singapore Police in Probe of Engineer’s Death -

    bloomberg.com 04 Mar '13, 2am

    The Federal Bureau of Investigation will assist Singapore police in a probe into the death of an American research engineer in the Asian city. The Singapore police had asked the family of Shane Todd to share any evidence in their possession related to his death with the local authorit...

  • Singapore Avoids Stimulus as Minister Acts to Curb Bubble Risk

    Singapore Avoids Stimulus as Minister Acts to Curb Bubble Risk

    bloomberg.com 28 Feb '13, 11pm

    Singapore Finance Minister Tharman Shanmugaratnam said there’s no need for monetary stimulus in a country with full employment, leaving policy makers reliant on unorthodox tools to prevent asset bubbles. “We don’t have an output gap, and evidence of that is in an extremely tight labor...

  • Singapore's Canary Wharf-topping condos damp dollar

    Singapore’s Canary Wharf-Topping Condos Damp Dollar -

    bloomberg.com 28 Feb '13, 3am

    Currency strategists are abandoning their forecasts for a record-setting rally in the Singapore dollar as government measures to rein in property prices reduce pressure on the central bank to cool inflation. The local dollar will likely rise 2.2 percent to S$1.21 versus its U.S. count...