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Jan 5, 2012

India cbank says interest rates have peaked as inflation slows

SINGAPORE/NEW DELHI, Jan 5 (Reuters) – Interest rates
in India have peaked, a deputy governor of the central bank said
on Thursday, as data showed the food price index dropped for the
first time in nearly six years.

Subir Gokarn, who handles monetary policy at the Reserve
Bank of India, said that economic growth concerns are back on
“center stage”, suggesting that the slowing economy was weighing
more on the RBI’s mind as the inflation threat recedes.

Jan 4, 2012

Singapore PM faces 36 pct pay cut, still world’s best paid

SINGAPORE (Reuters) – Singapore Prime Minister Lee Hsien Loong and his ministers will see their pay slashed by about 36 percent as the government responds to public discontent over their high salaries, but Lee will remain the world’s best-paid leader.

Singapore pays government members and civil servants generously to attract top talent to the public sector. High salaries have also helped its politicians stay honest in a region where corruption is rife.

Dec 19, 2011

Singapore’s GLP, China in $1.6 bln Japan property deal

SINGAPORE/HONG KONG, Dec 19 (Reuters) – China
Investment Corp (CIC) and Singapore’s Global Logistic Properties
(GLP) are teaming up to buy 15 logistics facilities in Japan for
$1.6 billion, in what will be the Chinese sovereign wealth
fund’s maiden foray into Japanese real estate.

CIC and GLP, whose largest shareholder is Singapore wealth
fund GIC, will each take a 50 percent stake in a joint
venture that will buy the properties from LaSalle Investment
Management. The deal is the largest real estate transaction in
Japan this year.

Dec 19, 2011

Singapore subway woes add pressure on PM Lee

SINGAPORE (Reuters) – Singapore’s multiple train breakdowns have become a political hot potato for Prime Minister Lee Hsien Loong, who must now take steps to assure an angry public that there is accountability in government and that authorities can cope with emergencies.

The Southeast Asian city-state, known for its efficient government, spectacular skyline and dozens of luxurious shopping centres, suffered three major subway disruptions last week, each lasting several hours.

Dec 19, 2011

Want to buy a mutual fund in Singapore? Pass a test

SINGAPORE (Reuters) – Buying a mutual fund in Singapore may not be a cakewalk anymore.

Under new investor-protection rules that take effect Jan 1, investors in the tightly controlled city-state must possess certain educational qualifications related to finance or have relevant work or trading experience to buy funds directly.

Dec 19, 2011

Want to buy a mutual fund in Singapore? Pass a test first

SINGAPORE, Dec 19 (Reuters) – Buying a mutual fund in
Singapore may not be a cakewalk anymore.

Under new investor-protection rules that take effect Jan 1,
investors in the tightly controlled city-state must possess
certain educational qualifications related to finance or have
relevant work or trading experience to buy funds directly.

Dec 7, 2011

Singapore acts to cool housing market

SINGAPORE, Dec 7 (Reuters) – Singapore on Wednesday
announced new measures to cool the city-state’s housing market,
saying foreigners who buy private homes will have to pay an
additional stamp duty equal to 10 percent of the property value.

Permanent residents who already own a Singapore home will
pay an additional stamp duty of 3 percent when they buy a second
and subsequent properties, while citizens who purchase a third
and subsequent homes will pay 3 percent.

Nov 30, 2011

Must stabilise bonds as Europe in crisis – ECB’s Noyer

SINGAPORE (Reuters) – Europe’s debt crisis has significantly worsened, threatening global markets, so it is essential to stabilise the region’s bond markets, European Central Bank governing council member Christian Noyer said on Wednesday.

The ECB will do whatever is necessary to ensure adequate financing is available for companies and households, amid growing signs of funding strains in Europe’s banking system and a jump in government bond yields, Noyer said during a visit to Singapore on Tuesday.

Nov 30, 2011

Situation in Europe has significantly worsened – ECB’s Noyer

SINGAPORE (Reuters) – European Central Bank governing council member Christian Noyer said on Wednesday Europe’s debt crisis had significantly worsened, threatening global financial markets, but was confident the euro area would emerge stronger and more cohesive.

“The situation in Europe and the world has significantly worsened over the past few weeks,” Noyer said at a conference in Singapore. “Market stress has intensified.”

Nov 30, 2011

ECB’s Noyer: situation in Europe has significantly worsened

SINGAPORE (Reuters) – European Central Bank governing council member Christian Noyer said on Wednesday Europe’s debt crisis had significantly worsened, threatening global financial markets, but was confident the euro area would emerge stronger and more cohesive.

“The situation in Europe and the world has significantly worsened over the past few weeks,” Noyer said at a conference in Singapore. “Market stress has intensified.”