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May 14, 2013

Singapore steps up international cooperation on tax evasion

SINGAPORE, May 14 (Reuters) – Singapore, the world’s
fourth-biggest offshore financial centre, said on Tuesday it
will adopt new measures to make it easier to share information
on potential tax evaders with other countries, including the
United States.

The Southeast Asian city-state, keen to avoid the kind of
onslaught on tax cheats being waged against Switzerland, said it
will sign up to the Organisation for Economic Cooperation and
Development’s (OECD) multilateral treaty on sharing tax details.

Apr 29, 2013

IMF flags risks of asset bubbles, middle income trap in Asia

SINGAPORE (Reuters) – Asia needs to guard against asset bubbles and its emerging economies must improve government institutions and liberalize rigid labor and product markets if they wish to reach the level of developed countries, the International Monetary Fund said on Monday.

“Emerging Asia is potentially susceptible to the ‘middle-income trap,’ a phenomenon whereby economies risk stagnation at middle-income levels and fail to graduate into the ranks of advanced economies,” the IMF said in its latest Regional Economic Outlook for Asia and the Pacific.

Apr 15, 2013

World Bank cuts East Asia growth estimate; welcomes BOJ stimulus

SINGAPORE, April 15 (Reuters) – The World Bank on Monday
scaled back slightly its 2013 growth forecasts for emerging East
Asia and warned about possible over-heating in the region’s
larger economies, but the global lender said the Bank of Japan’s
sweeping monetary expansion should provide a fillip to
developing countries.

Japan’s efforts to stimulate its economy through monetary
easing is likely to be “mostly good” for developing Asian
economies such as Thailand and the Philippines, which produce
components for Japanese exporters, the World Bank said.

Apr 15, 2013

World Bank cuts China, Indonesia growth estimate; warns of asset bubbles

SINGAPORE (Reuters) – The World Bank on Monday scaled back slightly its 2013 growth forecasts for developing East Asia and warned about possible over-heating in the region’s larger economies that could stoke inflation and asset bubbles.

The global lender, in its latest East Asia and Pacific Update, cut its gross domestic product (GDP) growth projection for China by 0.1 percentage point to 8.3 percent for 2013, citing Beijing’s ongoing efforts to restructure its economy.

Apr 8, 2013

Businessman charged in referee’s sexual bribes case

SINGAPORE (Reuters) – Businessman Eric Ding Si Yang has been charged with three counts of corruption relating to the sexual bribes case involving three Lebanese football match officials, Singapore’s Corrupt Practices Investigation Bureau said on Monday.

Singaporean Ding, described by local media as a bookmaker, will appear before the judge on Tuesday, the Attorney General’s office told Reuters.

Apr 8, 2013

Soccer-Businessman charged in referee’s sexual bribes case

SINGAPORE, April 8 (Reuters) – Businessman Eric Ding Si Yang has been charged with three counts of corruption relating to the sexual bribes case involving three Lebanese soccer match officials, Singapore’s Corrupt Practices Investigation Bureau said on Monday.

Singaporean Ding, described by local media as a bookmaker, will appear before the judge on Tuesday, the Attorney General’s office told Reuters.

Apr 5, 2013

Hearing postponed for soccer referees in sexual bribes case

SINGAPORE (Reuters) – Three Lebanese soccer officials accused of receiving sexual bribes in return for fixing a match in Singapore involving East Bengal had their bail hearing postponed by a judge in the city state on Friday.

In the hearing, the prosecution said they opposed bail for FIFA-recognised referee Ali Sabbagh and assistant Abdallah Taleb, arguing they were involved in what ‘appears to be a syndicated operation.’

Apr 5, 2013

Hearing postponed for referees in sexual bribes case

SINGAPORE (Reuters) – Three Lebanese soccer officials accused of receiving sexual bribes in return for fixing a match in Singapore had their bail hearing postponed by a judge in the city state on Friday.

In the hearing, the prosecution said they opposed bail for FIFA-recognised referee Ali Sabbagh and assistant Abdallah Taleb, arguing they were involved in what ‘appears to be a syndicated operation.’

Apr 5, 2013

Soccer-Hearing postponed for refs in sexual bribes case

SINGAPORE, April 5 (Reuters) – Three Lebanese soccer officials accused of receiving sexual bribes in return for fixing a match in Singapore had their bail hearing postponed by a judge in the city state on Friday.

In the hearing, the prosecution said they opposed bail for FIFA-recognised referee Ali Sabbagh and assistant Abdallah Taleb, arguing they were involved in what ‘appears to be a syndicated operation.’

Mar 19, 2013

China’s leaders focus inward, wary of “distraction”: Singapore

SINGAPORE (Reuters) – China’s leaders face daunting domestic problems and would be wary of any foreign entanglement, and the growth of its military was a reflection of its rise as an economic power, Singapore’s foreign minister, K. Shanmugam, said on Tuesday.

President Xi Jinping and other new leaders of China’s 1.3 billion people need to restructure the economy to rely more on consumption, clean up the environment and tackle rising income inequality, he said.