bloomberg.com Archives - 21 April 2013, Sunday

  • World's longest retirement fuels pressure to reform welfare in Singapore

    Longest Retirements Fuel Pressure for Singapore Remodel: Economy

    bloomberg.com 18 Apr '13, 6pm

    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 checks derivatives system after trading was delayed by glitch last week

    SGX Checks Derivatives Trading Glitch to Protect Cash Cow

    bloomberg.com 18 Apr '13, 6pm

    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...

  • Bitcoin Fever Spreads to Argentina: Video

    bloomberg.com 16 Apr '13, 8pm

    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)

  • #bitcoin

    Bitcoin Dreams Endure to Savers Crushed by CPI: Argentina Credit

    bloomberg.com 16 Apr '13, 1pm

    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 Tests Singapore Market With Priciest Home: Southeast Asia - Bloomberg

    Tycoon Tests Singapore Market With Priciest Home: Southeast Asia

    bloomberg.com 14 Apr '13, 4pm

    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...

  • Virtual Bitcoin Mining Is a Real-World Environmental Disaster

    Virtual Bitcoin Mining Is a Real-World Environmental Disaster

    bloomberg.com 12 Apr '13, 12pm

    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 GDP Unexpectedly Contracts as Manufacturing Faltered - Bloomberg

    Singapore GDP Unexpectedly Contracts as Manufacturing Faltered

    bloomberg.com 12 Apr '13, 12am

    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...

  • Bitcoin's Wild Ride Shows It's Not Real Money

    bloomberg.com 11 Apr '13, 7pm

    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 Sees Asia Demand Filling Extra Singapore Capacity via @BloombergNews

    Qantas Sees Asia Demand Filling Extra Singapore Capacity

    bloomberg.com 11 Apr '13, 4pm

    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...

  • Bitcoin Is `Gold for Nerds,' Convergex's Colas Says: Video

    bloomberg.com 10 Apr '13, 12pm

    April 10 (Bloomberg) -- Nicholas Colas, chief market strategist at Convergex Group, talks about the Internet currency Bitcoin. Colas speaks with Tom Keene and Sara Eisen on Bloomberg Television's "Surveillance." (Source: Bloomberg)

  • Singapore Downtown Mansion Up for Sale at Record S$300 Million

    bloomberg.com 09 Apr '13, 8am

    Wing Tai Holdings Ltd. (WINGT) Chairman Cheng Wai Keung is seeking a record S$300 million ($242 million) for a home near Singapore ’s Orchard Road shopping belt, betting that developers may profit from dividing the site. The 85,000-square-foot site on an elevated lot at 33 Nassim Road...

  • Singapore May Keep Dollar Gains on Price Threats: Southeast Asia

    Singapore May Keep Dollar Gains on Price Threats: Southeast Asia

    bloomberg.com 09 Apr '13, 12am

    The Monetary Authority of Singapore will probably retain the existing pace of currency appreciation as lingering inflation limits the scope for policy makers to support subdued growth, a survey of analysts showed. Officials will keep gains in Singapore’s dollar when they announce thei...

  • Bitcoin Really Is an Existential Threat to the Modern Liberal State

    bloomberg.com 05 Apr '13, 8pm

    Taxation: How do governments collect taxes on transactions in Bitcoin? The answer is they don't, and they can't. Crypto-currency's strong protections on anonymity make it impossible for any state to know who is buying what, who is paying whom, who earns what, and who has what in savin...

  • Soccer Officials Charged With Taking Sex Bribes in Singapore

    bloomberg.com 04 Apr '13, 5pm

    Three Lebanese soccer match officials were charged in Singapore with corruptly receiving “free sexual service” as an inducement to fix an Asian Football Confederation Cup match this week. Referee Ali Sabbagh and assistant referees Ali Eid and Abdallah Taleb were replaced before the Ap...

  • Sorry, Libertarians, History Shows Bitcoin Isn't the Future

    bloomberg.com 04 Apr '13, 3pm

    As we consider the digital-currency phenomenon that is Bitcoin, bear in mind that there are, broadly speaking, two accounts of the origin and history of money. One is elegant, intuitive and taught in many introductory economics textbooks. The other is true. The financial economist Cha...

  • 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...