News Today

Tokyo unwilling to provide energy aid
TOKYO - THE six-nation accord signed in Beijing to provide energy aid to North Korea in exchange for shutting down Pyongyang's nuclear facilities has put the Tokyo government in a bind.Prime Minister Shinzo Abe said yesterday that his government will not... [Read more]

PwC to axe scandal-hit Japan affiliate
TOKYO - THE world's biggest accounting firm, PricewaterhouseCoopers (PwC), is set to shut a Japanese affiliate because of its involvement in the Nikko Cordial Securities broking scandal. This leaves PwC with a significantly smaller presence than rivals in Japan. Misuzu Audit,... [Read more]

Healthy demand
WHAT is fuelling demand for doctors: Patients who are better educated and want to know more, causing consultation time to go up. This is good, as 'a committed patient, who is better informed, is more likely to take greater responsibility for... [Read more]

For lease: 6 state properties for office use
THE Singapore Land Authority (SLA) has put up six state properties for lease via public tender solely for office use. They are: 195 Pearl's Hill Terrace, the former police headquarters. 18 Pearl's Hill Terrace, which used to house a Criminal Investigation... [Read more]

Proposals to help disabled out soon
RECOMMENDATIONS to help the disabled live as independently as possible are expected to be made by the end of this month, said Minister of State (Community Development, Youth and Sports) Yu-Foo Yee Shoon yesterday.The proposals will come from a committee drawing... [Read more]

Stock market fever hits China's students
BEIJING - UNIVERSITY students on shoestring budgets have traditionally waited tables, flipped burgers at fast-food joints or taken on odd jobs to earn an extra buck. But recently, enterprising students in China are turning to a quicker, albeit riskier, way of... [Read more]

Malaysia trade crosses RM1 trillion mark
KUALA LUMPUR - MALAYSIA'S trade surpassed the RM1 trillion (S$439 billion) mark for the first time, prompting Prime Minister Abdullah Badawi to call it an 'inspiring achievement'. Datuk Seri Abdullah, who also holds the finance portfolio, said on Thursday that trade... [Read more]

China trade surplus hit $24.4b in January
HONG KONG - CHINA posted a US$15.9 billion (S$24.4 billion) trade surplus last month, pumping more cash into the world's fourth-biggest economy and adding pressure on Beijing to let the yuan rise faster. Imports jumped 27.5 per cent from a year... [Read more]

Chef in demand beyond our shores
JUSTIN Quek, 44, is one of Singapore's best-known chefs. He has cooked for the likes of Minister Mentor Lee Kuan Yew, Microsoft founder Bill Gates and former Chinese president Jiang Zemin in a career spanning more than 20 years. He set... [Read more]

Woodlands outshine disjointed Home stars 2-0
ONE side boasted a handsome collection of S-League talents, including five national players. The other had only the league's Player of the Year, albeit with the support of an experienced and cohesive unit. Last night, it was teamwork that defeated star... [Read more]

Philippine 'coup adviser' to run for Senate from jail
FORMER army colonel Gregorio 'Gringo' Honasan, the Philippines' self-confessed 'adviser' on coup plots, yesterday threw his hat into the Senate race and vowed to unite the country if he won. The 58-year-old is in detention and being tried for allegedly masterminding... [Read more]

First A-380 will be delivered to SIA on time: EADS official

MUNICH - EADS co-chief executive Louis Gallois told a news conference yesterday that the first Airbus A-380 superjumbo would be delivered to Singapore Airlines (SIA) on time.

He added that Airbus had started equipping the first plane for Emirates, the biggest customer for the A-380.

In fact, major delays to Airbus' A-380 superjumbo had led to a 768 million euro (S$1.55 billion) fourth-quarter loss last year for the parent company European Aeronautic Defence and Space (EADS).

EADS said the effects of a series of management and financial crises, including a two-year delay to the double-decker A-380, and charges at its A-350 XWB programme hurt fourth-quarter gains.

Officially launched in December, the 11.6 billion euro A-350 XWB programme promises better fuel efficiency and greater use of composites than the earlier version of the plane, but with later availability.

So far, Finnair has agreed to order nine of the planes, and Airbus is in talks with other airlines about converting 93 outstanding A-350 orders for the wide-body model.

However, the new Airbus jet is five years behind its rival, Boeing's 787 'Dreamliner', which already has notched up 464 firm orders as the United States company prepares to begin building the plane in the second quarter, with the first flight scheduled for August.

Airbus' new orders for planes reached 790 last year, compared with Boeing's 1,044.

Airbus plans to cut 10,000 jobs and spin off or close six of its European manufacturing plants under the auspices of the Power8 plan, which was unveiled on Feb 28.

Three sites making wing and fuselage parts in Britain, France and Germany are earmarked for sale to new investment partners as Airbus follows in Boeing's footsteps by seeking fresh financing for its programmes.

REUTERS, ASSOCIATED PRESS

News Today

Health items law can enforce after-sales scrutiny
A NEW law on health products for human use, approved yesterday, sends 'a strong signal' that products made or sold here are of the highest standards. Madam Halimah Yacob (Jurong GRC) said when debating the Health Products Bill, that it will... [Read more]

Nine-storey deep storage solution under sea
IN FOUR years' time, the seabed off Jurong Island will be transformed. Rock caverns nine storeys deep, which can store up to 1.47 million cubic metres of oil, will lie beneath - a safe, environmentally friendly storage solution for the growing... [Read more]

Sampras a proper match for Federer
LOS ANGELES - PETE Sampras thinks he could have held his own against Roger Federer.But he conceded on Tuesday that the Swiss master is poised to smash his record of 14 Grand Slam titles.Sampras, who retired after winning the 2002 US... [Read more]

Beijing slams Taipei over changes to textbooks
BEIJING - CHINA lashed out at Taiwan yesterday for dropping phrases from high-school history textbooks that link the two as one country, and said the move was another step towards promoting the island's independence.The changes included replacing terms such as 'the... [Read more]

Taiwan's new history textbooks draw flak
TAIPEI - TAIWAN'S new high school history textbooks have sparked controversy by drawing a clear distinction between the history of China and Taiwan.The move was seen by some observers as the latest in a continuing effort by the ruling Democratic Progressive... [Read more]

Putin defends Russian democracy and energy policies
MOSCOW - PRESIDENT Vladimir Putin yesterday assured that Russia's next president would be democratically chosen and defended Moscow's energy policies in a mass press conference seen as a chance for him to repair Russia's battered image.'There won't be a successor; there... [Read more]

Rush to buy subsidised rice
PHOTO: AP Poor Indonesians scrambling in Jakarta on Thursday to buy rice subsidised by the Indonesian government for 75,000 rupiah (S$13) per 20kg bag, which is roughly half the market price. The loss of the rice harvest in parts of the... [Read more]

Quick-thinking pilot, passengers foil hijack
LAS PALMAS (SPAIN) - PLUCKY passengers of a Mauritanian plane overpowered a suspected armed hijacker with help from a quick-thinking pilot. The Air Mauritania Boeing 737 was on an internal flight in the north-western African country on Thursday when the hijacker,... [Read more]

US review of copyright piracy set to rock China ties
WASHINGTON - THE Bush administration has begun a comprehensive review of enforcement of intellectual property rights (IPRs) in China, an issue that could sour trade relations between the two economic giants. US Deputy Trade Representative Karan Bhatia told The Straits Times... [Read more]

S'pore looks to host global sporting events
DAVOS - SINGAPORE is exploring the option of hosting international single-sport events, according to Community Development, Youth and Sports Minister Vivian Balakrishnan. He told The Straits Times, ahead of a panel discussion on sports and development during the World Economic Forum... [Read more]

85% of bumi contracts 'sold off to non-Malays'
KUALA LUMPUR - MALAYSIAN Prime Minister Abdullah Badawi has expressed disappointment at a study which shows that 85 per cent of projects secured by bumiputera contractors end up with other communities.Revealing for the first time the percentage of abuses in the... [Read more]

Swiss private bank plans to expand Asian business

THE newly formed Swiss private bank Clariden Leu is looking to double its assets under management in Asia within five years - and add to its Singapore workforce in the process.

Clariden Leu, established only in January, is targeting the well-heeled, those with assets of at least one million Swiss francs (S$1.25 million). It will also promote niche investment products.

The bank plans to open an office in Jakarta later this year.

'Asia, together with Europe, is the fastest-growing wealth market,' said Mr Roland Knecht, Clariden Leu's head of private banking for Eastern Europe, Asia and Middle East.

'I think we should be able to generate growth of between 15 and 20 per cent a year in Asia.'

The bank has seven billion Swiss francs in assets under management in Asia.

Part of its growth will be through acquisitions. Last month, it agreed to acquire the Asian private banking business of South Africa's Standard Bank. The deal - its value was not disclosed - is expected to be completed by the second half of this year.

Standard Bank, Africa's biggest bank by assets, holds private banking assets of around US$750 million (S$1.15 billion) in Asia.

Clariden Leu was formed by a merger of Credit Suisse's four private banks - Clariden Bank, Bank Leu, Bank Hofmann and BGP Banca di Gestione Patrimoniale - and securities dealer Credit Suisse Fides.

It has assets under management of 124 billion Swiss francs.

Since its predecessor, Clariden Bank, opened a branch here in 2005, the bank has doubled its headcount to 65. It also employs 18 staff in its Hong Kong office.

It expects the number of employees in Asia to hit 100 by the end of the year, with most to be hired in Singapore.

Giggs will take quick free kick again if chance comes

MANCHESTER - RYAN Giggs has warned Lille he would not think twice about taking a quick free kick if the opportunity arises today.

'It doesn't matter if there is a huge fuss again. I am not breaking the rules, so I would do it,' said the Manchester United forward, still going strong at 33.

The Welshman became only the second player in the club's history to make 700 appearances, when he helped United to a 1-0 victory over Liverpool on Saturday.

He admits to being driven by the fear that his next game could be the last.

'Because you get older, and year on year you are getting closer to the end, you try to enjoy it a lot more,' he told MUTV. 'You try and make the most of it. You try and win as much as you can.'

Striker Henrik Larsson will play his final match at Old Trafford in United colours, before his loan deal expires on Monday. He said: 'I will be trying to make the most of every minute I have on the pitch.'

The former Barcelona player knows what it takes to win the Champions League. He believes that Alex Ferguson has a squad with credentials to go all the way.

'It's a good squad, so everything is possible,' he said.

'But we can't forget that we're playing a good side in Lille. When they were at home, they were supposed to attack more. I think it will be different with us at home.

'They are a physical team, but United are used to dealing with that. Lille will not stop, they will work and work.'

There will no room for sentimentality, a signal of his professional approach that has impressed everyone at the club.

The Swede said: 'I don't think, on the night, I will be able to savour the atmosphere.

'I need to concentrate on the game. After the match, I will try and take it all in.'

Injured Becks could be out for two months

MADRID - DAVID Beckham could be out of action for up to two months with a knee injury.

The Real Madrid midfielder injured a ligament in his right knee in their 1-1 draw with Getafe on Sunday in the Spanish league.

He was expected to have a scan later yesterday.

The 31-year-old Beckham was taken off the field in the 69th minute.

Earlier, teammate Jose Antonio Reyes was carried off on a stretcher with a similar injury to his left knee.

'Beckham's injury is serious, and the other could be something important. We will have to see,' Madrid coach Fabio Capello said on Sunday.

Beckham earned plaudits for his performance in the first- leg 3-2 win against Bayern in Spain.

He had fought his way back into the team despite being ostracised by Capello.

The Italian coach was upset that Beckham had apparently signed for American side LA Galaxy without first telling him.

Beckham, the former England captain, will move to LA Galaxy at the end of the season.

Raul and Guti were included in the squad after recovering from their injury problems, as was Brazilian midfielder Emerson, who also missed the Getafe game.

Argentinian striker Gonzalo Higuain and Dutchman Ruud van Nistelrooy made the squad, despite suffering bruising to thigh muscles.

Beckham's injury came just a couple of days before England coach Steve McClaren was scheduled to travel to Munich to watch him play Bayern.

McClaren missed the first leg in Spain, where Beckham had played well in Real's victory.

That performance led to calls for Beckham to be brought back to the national squad.

His most recent appearance for England was against Portugal in the World Cup quarter-finals last June.

After that game, he was dropped from the national team when McClaren took over as coach.

But his recent form for Real has prompted some observers to suggest he should be playing for England again.

One of them was former England striker Gary Lineker.

In his column for The Sunday Telegraph, he said he favoured a temporary recall for Beckham to help England with their important upcoming European Championship qualifying games.

'Beckham is a proven international-class player,' Lineker wrote.

'And while he might have lost some of the sharpness in his legs, he remains one of the top 20 players available to McClaren.

'Of course, bringing back Beckham could only be considered a short-term fix because, when he moves to the United States in the summer, he is going into semi-retirement.

'That is what is happening. I know what it is like because I went through it when I moved into Japanese football.

'The standards will be lower, and he will be a long way from home.'

ASSOCIATED PRESS, LOS ANGELES TIMES

News Today

Hardline Thai general to head phone corporation
BANGKOK - SAPRANG Kalyanamitr, a top general with a hardline reputation, was on Thursday given additional charge of a major public enterprise when he was appointed chairman of the board of TOT (Telephones of Thailand Plc). TOT has exclusive rights to... [Read more]

SPCA took in fewer animals last year
THE number of animals taken in by the Society for the Prevention of Cruelty to Animals (SPCA) last year fell 6 per cent compared to the year before. Last year, it gave shelter to 9,706 animals, more than half of which... [Read more]

Buyout moves hurt PacNet's net income
THE recent takeover battle for Pacific Internet (PacNet) has taken its toll on the firm's bottom line, driving profits down 47 per cent to US$3.8 million (S$5.8 million) for the year ended Dec 31. Net profits for the fourth quarter were... [Read more]

London police appealed for help
London police appealed for help yesterday in catching a serial rapist responsible for at least 28 sex attacks including rapes of elderly women as old as 93.Detectives working on the capital's biggest-ever hunt for a serial rapist said the man first... [Read more]

S'poreans in NY to get a taste of hawker fare
LAKSA, chicken rice and char kway teow will find their way to the heart of New York City when a slice of Singapore hits the Big Apple in April. That is when the Overseas Singaporean Unit (OSU) holds its first 'Singapore... [Read more]

China Energy's issues in the spotlight
SOON after going public, China Energy has managed to catch investors' attention again with two new covered warrants on the stock.China Energy produces dimethyl ether, an environmentally friendly fuel which is sold to liquified petroleum gas (LPG) distributors which blend it... [Read more]

McCulloch gives Wigan crucial win
LONDON - TWO runs came to an end on Saturday at Wigan.Portsmouth lost for the first time there in 28 years but, more importantly for Wigan, their 1-0 win ended a club-record run of eight straight Premiership losses.Ironically, their hero was... [Read more]

Watford resigned to relegation after loss to Bolton
LONDON - A CONVERSATION between two Watford supporters on the way to Saturday's Premiership match against Bolton said everything about the club's situation.'How do you reckon we'll do in the Championship next season?' one asked.The fact that the match ball was... [Read more]

Study to find out if masks keep flu at bay
ANN ARBOR (MICHIGAN) - HUNDREDS of university students here are taking part in a study that could change the way the world looks at flu. They walk around the campus wearing surgical masks as part of a test to see if... [Read more]

PayPal picks Singapore for regional headquarters
ONLINE payments giant PayPal has set up its regional headquarters in Singapore.California-based PayPal helps users to send and receive payments securely online, using its own technology coupled with bank accounts and credit cards.Owned by popular online auction site eBay, PayPal has... [Read more]

Singapore's 'big-picture' Budget to be unveiled
WHAT IT IS SECOND Finance Minister Tharman Shanmugaratnam will unveil the Budget on Thursday. It has been billed as a Budget that will tilt the balance of public spending towards helping the poor and providing for an ageing population. To pay... [Read more]