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Jan 28, 2013

Key political risks to watch in Singapore

SINGAPORE, Jan 28 (Reuters) – Rich and orderly Singapore, a
regional base for many multinationals and fund managers, is one
of Asia’s smoothest-running and least risky countries, and is
rated triple-A by both Moody’s and Standard & Poor’s.

Economic growth is slowing, however, and discontent with the
ruling party is on the rise amid high inflation and income
inequality that is among the most extreme in the developed
world.

Jan 25, 2013

By-election shines a light on discontented Singapore

SINGAPORE (Reuters) – Sky-high housing prices. Train breakdowns. Foreigners stealing jobs, and a widening chasm between rich and poor.

A by-election in Singapore on Saturday is putting a spotlight on strains and discontent in one of Asia’s wealthiest countries and biggest success stories: the transformation of a post-colonial backwater into an economic powerhouse.

Jan 25, 2013

Singapore Dec output tops forecasts despite weak electronics

SINGAPORE, Jan 25 (Reuters) – Singapore’s industrial output
in December nearly matched the year-earlier level as higher
production of drugs and oil rigs offset continued weakness in
electronics, easing fears that fourth quarter gross domestic
product data would be revised downwards.

The Economic Development Board (EDB) said on Friday
industrial production slipped 0.6 percent in December from a
year ago as a 21.0 percent jump in pharmaceuticals and a 14.8
percent rise in marine and offshore engineering offset a 16.9
percent year-on-year drop in electronics.

Jan 15, 2013

Singapore, Hong Kong look to cool not kill property markets

SINGAPORE/HONG KONG, Jan 16 (Reuters) – Singapore and Hong
Kong now have identical 15 percent levies to slow the foreign
money that has added fuel to their overheated property markets -
measures that will help first-time buyers but throw the
spotlight on investors’ next targets.

The curbs on residential real estate purchases could shift
demand to retail and industrial spaces, diverting billions of
dollars to those sectors as well as to housing markets in the
United States, Canada, Australia and Malaysia.

Jan 11, 2013

Singapore takes new steps to cool property market

SINGAPORE, Jan 11 (Reuters) – Singapore on Friday increased
a tax on foreign buyers as part of new measures to cool its
housing market which has seen continued strong demand in the
face of a weak economy and previous efforts to curb prices.

Foreigners and corporates who buy residential property in
Singapore will now be subject to an additional buyer’s stamp
duty (ABSD) of 15 percent of the purchase price, up from the
previous 10 percent.

Jan 8, 2013

Singapore ups ante for casino firms with new rules, bigger fines

SINGAPORE, Jan 8 (Reuters) – In any casino, the odds favour
the house. Using its house edge, Singapore is seeking to
maximise economic profits and minimise social costs with tighter
rules and tougher fines for two casino operators, along with new
steps to curb problem gambling.

The wealthy and regimented city-state has enjoyed a windfall
of tourism, jobs and revenue since Las Vegas Sands Corp
and Genting Singapore Plc opened casino complexes in
2010, in part by linking their licences to how well they develop
attractions that are not related to gambling.

Jan 3, 2013

CapitaLand to focus on Singapore, China; reviews Australia

SINGAPORE, Jan 3 (Reuters) – Southeast Asia’s largest
property developer CapitaLand Ltd is restructuring its
businesses to focus on its core markets of Singapore and China,
which together account for more than half of its revenue.

CapitaLand, about 40 percent-owned by Singapore state
investor Temasek Holdings, is considering exiting from
the office and home segments in the United Kingdom and India,
but will remain invested in serviced residences and malls, Chief
Executive Officer Lim Ming Yan said on Thursday.

Jan 2, 2013

Singapore GDP up 1.8 pct in Q4, dodges expected recession

SINGAPORE, Jan 2 (Reuters) – Singapore’s economy grew in the
last three months of 2012, avoiding an expected recession as
services put in a strong showing and gross domestic product
(GDP) data for the first three quarters was revised downwards.

Singapore, whose trade is around three times GDP, has been
badly hit by the weakness in Western economies that has crimped
demand for many of its exports. The Southeast Asian city-state’s
electronic manufacturers have also failed to tap surging demand
for smartphones, unlike rivals in South Korea and Taiwan.

Dec 29, 2012

Death of India rape victim stirs anger, promises of action

NEW DELHI/SINGAPORE, Dec 29 (Reuters) – A woman whose gang
rape provoked protests and rare national debate about violence
against women in India died from her injuries on Saturday,
prompting promises of action from a government that has
struggled to respond to public outrage.

The unidentified 23-year-old medical student suffered a
brain injury and massive internal damage in the Dec. 16 attack
and died in hospital in Singapore where she had been taken for
treatment.

Dec 28, 2012

India gang-rape victim dies in Singapore hospital

SINGAPORE, Dec 29 (Reuters) – The Indian gang-rape victim
whose assault in New Delhi triggered nationwide protests died in
hospital on Saturday of injuries suffered in the attack, a
Singapore hospital treating her said.

“We are very sad to report that the patient passed away
peacefully at 4:45 a.m. on Dec 29, 2012 (1645 GMT Friday). Her
family and officials from the High Commission of India were by
her side,” Mount Elizabeth Hospital Chief Executive Officer
Kelvin Loh said in a statement.