News Today

Accused recounts sex, betrayal, street chase
IT HAS all the ingredients worthy of a gripping drama serial: sex, betrayal, a love triangle, even a chase on a crowded street.The lurid nature of the relationship between university professor Bryan Ngoi Kok Ann and his lover, 26-year-old nightclub singer... [Read more]

LA hospital dumps patient on Skid Row
LOS ANGELES - A HOSPITAL van dropped off a paraplegic man in a rundown downtown area here, allegedly leaving him crawling in the street with nothing more than a soiled gown and a broken colostomy bag, police said. Witnesses to the... [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]

Phones of the future
THESE phones may just make current 3G models obsolete. The phones of the future - showcased at the 3GSM World Congress trade show in Barcelona - are here in today's Digital Life.From Nokia's E90 communicator PDA phone to Motorola's Krzr K3, they... [Read more]

Staff to be more attentive when giving out info
We refer to the letter by Ms Liew Chuen Li (Online forum, Feb 13).We have contacted Ms Liew and apologised for the service lapse that she and her mother experienced.Upon receiving feedback from Ms Liew, we successfully turned on her mio... [Read more]

Factory output grows 5.1% despite slide in electronics
FACTORIES ended last year with a well-worn story - slumping output in the electronics sector dragged down Singapore's overall manufacturing output last month. Industrial production managed growth of 5.1 per cent in December despite the third consecutive month of decline in... [Read more]

Singapore-made drug may prevent relapse of cancer
A DRUG made from the extract of a traditional Chinese medicine (TCM) herb will be tested soon to see if it helps delay or prevent a relapse in advanced breast cancer patients who have responded to Western treatment.Currently, patients are treated... [Read more]

Mayor admits affair with top aide's wife
CONFRONTING a political scandal that sounds more like a soap opera, San Francisco's handsome young mayor has made an emotional apology for an affair with the wife of his campaign manager. 'I want to make it clear that everything you've heard... [Read more]

Doctor sacked for filming nurses in shower
A TRAINEE doctor at Tan Tock Seng Hospital (TTSH) has been sacked after he admitted to surreptitiously filming nurses in the shower.Described by colleagues and nurses as 'a wonderful co-worker', he had left a black waist pouch with a video camera... [Read more]

Bond in China at last
Three women in Shanghai strike the same pose as James Bond in Casino Royale, which made its debut in cinemas around China yesterday. Casino Royale is the first of the 21 Bond films to earn approval from censors in China, and... [Read more]

Bombs kill at least 63 in blow to Baghdad's security drive
BAGHDAD - MILITANTS have delivered their first major blow to a US-led security clampdown in Baghdad, with car bombs that killed at least 63 people, left scores injured and sent a grim message to officials boasting that extremist factions were on... [Read more]

Bryant upset

KOBE Bryant has called his one-game suspension for flailing his arms after a shot 'ridiculous'.

The Los Angeles Lakers star said: 'I don't want to have the reputation of a dirty player. For them to try to make an example out of me is upsetting.'

He was suspended for one game by the National Basketball Association on Wednesday, his second penalty for that action in a little more than a month.

The incident came with 58 seconds remaining in the fourth quarter of the Lakers' 107-117 double-overtime loss to Minnesota on Tuesday.

Bryant struck Timberwolves guard Marko Jaric after taking a shot.

News Today

Hefty spending on defence justified
I AGREE with Mr Quek Soo Beng ('Examine the old sacred cow of defence spending'; ST, Jan 27) that there is a continuous need to review budgetary allocations for the various sectors of Government, including defence, to get the best out... [Read more]

Fund managers hail removal of 80:20 tax exemption rule
SMALL or 'boutique' fund managers in Singapore yesterday cheered the long-awaited removal of an unwieldy rule on tax exemptions for foreign investors.Under the rule, introduced in 2005, fund managers based here have had to ensure that at least 80 per cent... [Read more]

Indian firms finding match with Western partners
NEW DELHI - A FLURRY of big-ticket cross-border acquisitions involving Indian companies over the past fortnight may amount to more than the US$29 billion (S$44 billion) that the deals were worth. Britain's Vodafone said on Sunday that it had offered US$11... [Read more]

Crash landings
PHOTO: REUTERS French policemen inspecting an airplane (above) after it overran the airport runway in Pau, southern France, slamming into a truck and killing its driver on Thursday. The 50-plus passengers on board the plane, belonging to Air France subsidiary Regional... [Read more]

UBS moves top wealth manager to S'pore
UBS has relocated its vice-president of global wealth management, Mr Carlo Grigioni, from Switzerland to Singapore.The move reflects the growing importance of the Asia-Pacific region to the Swiss private banking giant. Mr Grigioni, a Swiss national who had previously worked in... [Read more]

S'pore urged to grab larger slice of Islamic banking pie
SINGAPORE has made a start at offering Islamic financial products - but must do more to get a significant slice of the estimated US$450 billion (S$690.5 billion) invested globally. Speakers at a conference here on this fast-emerging niche sector said wealthy... [Read more]

Window on new Vista
IT HAS been five years in the making, but Windows Vista has finally landed here.The new operating system has a snazzier interface and improved security, but all this comes at a price.Today's Digital Life gives you the lowdown on what you... [Read more]

YouTube post shouldn't trifle with religion
I WAS upset when I was forwarded a hyperlink to a sound file posted on YouTube by 'Ximiwakoz'.The recording, entitled 'RK House - No PORK', featured some boys who apparently visited a prata shop at Serangoon Gardens. They repeatedly asked for... [Read more]

Suicide bomber kills 3 in Israeli resort town
EILAT (ISRAEL) - A PALESTINIAN suicide bomber attacked a bakery in the southern Israeli resort town of Eilat yesterday, killing himself and three others, police said. It was the first suicide attack in Israel in nine months and the first ever... [Read more]

Wenger blasts the Blues' big losses
LONDON - ONCE again, Chelsea have reported a massive loss. Once again, they have been slammed for operating with a huge deficit. On Monday, the English champions reported an £80 million (S$239 million) loss for the last financial year. It was... [Read more]

Expired cards add to SMRT's 9-month gains
TRANSPORT operator SMRT Corp posted a decent 19.2 per cent rise in net earnings to $99.64 million for the nine months ended Dec 31, 2006.The improvement was fuelled by a number of factors, including a $4.85 million rise in other income... [Read more]

Sports World

WOMEN'S DAY SPORTS SHOPPING

The Singapore Sports Council's three-day International Women's Day Sports Shopping will end today at the Raffles Place Park.

Various sports programmes, including swimming, yoga, snow boarding and sailing, are scheduled between 11am and 7pm. There will also be great shopping bargains and free gifts.

A free fitness session will be open to all from 12.30pm to 1.30pm.

PROBLEMS MOUNT FOR KIWIS

BRIDGETOWN (Barbados): An upset two-wicket loss to Bangladesh and an injury to fast bowler Mark Gillespie have jolted New Zealand ahead of the cricket World Cup.

Three weeks after beating reigning champions Australia 3-0 in a one-day series at home, the Kiwis lost by two wickets to lowly ranked Bangladesh on Tuesday in a warm-up match.

Gillespie was unavailable, after a viral infection spread from his head to his right shoulder, causing spinal and shoulder-nerve pain.

Said Kiwi captain Stephen Fleming: 'We just didn't play well. It gives us some headaches. It's a wake-up call before the tournament starts next week.'

ASSOCIATED PRESS

LAKERS LOSE IN DOUBLE OVERTIME

MINNEAPOLIS: The Minnesota Timberwolves gave the Los Angeles Lakers chance after chance to seal a victory on Tuesday night.

Somehow, the Lakers blew every opportunity. They eventually lost 107-117 in double overtime in the National Basketball Association game.

Not even Kobe Bryant's 40 points - his first 40-point effort since Jan 31 - could prevent the injury-ravaged team's third straight loss.

LOS ANGELES TIMES

News Today

Hongbao for 105, 000 needy folk
NEARLY 105,000 needy old folk and disabled people will have received early Chinese New Year hongbao by the end of today from two benefactors. The Singapore Buddhist Lodge Welfare Foundation will give out these red packets of money to a record... [Read more]

Urgent cases receive priority
I REFER to Miss Nurazlina Kamis' letter, 'Terrible toothache but dental date is Feb 14' (ST, Jan 26). At our dental clinics, emergency cases are attended to on the same day while non-emergency cases are given the earliest appointment slot available.... [Read more]

Wilko's 27 points fire England to opening win
LONDON - JONNY Wilkinson could not have scripted his comeback any better. After more than three years of injuries to his neck, shoulder, arm, knee, appendix, groin and, most recently, kidney, the fly-half returned to rugby's international stage with a bang.... [Read more]

Three Thai firms show interest in Shin Sat
BANGKOK - TWO state-owned telecoms firms, as well as a private one, have reportedly shown interest in buying Temasek Holdings' stake in Shin Sat. According to reports in The Nation, Telephones of Thailand Corp and CAT Telecom have expressed their interest... [Read more]

Mayor admits affair with top aide's wife
CONFRONTING a political scandal that sounds more like a soap opera, San Francisco's handsome young mayor has made an emotional apology for an affair with the wife of his campaign manager. 'I want to make it clear that everything you've heard... [Read more]

Hu 'offers deputy top advisory post'
BEIJING - CHINESE Vice-President Zeng Qinghong has been offered the top job in a government advisory body, dimming his allies' hopes that he might one day become president, sources with ties to the leadership said yesterday.Mr Zeng's political fate will be... [Read more]

Ancient water dispute still causing ripples
THOUSANDS of riot policemen fanned out across India's technology hub of Bangalore earlier this week, as a court ruled on an ancient water dispute between the country's federal states.Not long after the British conquered India, the colonial rulers decided that the... [Read more]

How to live with neighbours: Stay cool despite heated spats
IN 2002, Shanghai authorities decided that the Shanghai Concert Hall was in too noisy a neighbourhood, no thanks to a nearby expressway. Seven months of planning later, in April 2003, the entire building was moved off its foundation. It was hoisted... [Read more]

SingTel's billing system periodically checked and audited to ensure that bills are accurate
We refer to the letter by Mr Tan Guan Hua (Online forum, Feb 3) and thank him for his feedback.We apologise for the miscommunication over his bill and the inconvenience caused.We would like to assure our customers that they are billed... [Read more]

45,000 fans expected
AT LEAST 45,000 fans will be at tonight's Singapore v Malaysia match at the National Stadium.They are expected to be joined by President S R Nathan.The remaining 10,200 adult gallery tickets, priced at $6 each, will be sold today at the... [Read more]

US trade deficit hit record high of $1.17 trillion last year
WASHINGTON - THE United States trade deficit surged to a record US$763.6 billion (S$1.172 trillion) last year owing to new highs for oil prices and the commercial shortfall with China, a report said yesterday.The US Commerce Department report said that the... [Read more]

News Today

Care needed with CPF lottery plan
I REFER to the article, 'Workfare: Not an ideological shift, just economics' (ST, Feb 17), which raised the idea of the CPF Board working with Singapore Pools to harness lower-income Singaporeans' tendency to bet in lotteries by devising a scheme to... [Read more]

China's economic boom throws up new challenges
BEIJING - THE Chinese economy has been surpassing growth expectations for years and its 2006 gross domestic product figures even beat the confident predictions made by senior officials.Last year's 10.7 per cent increase in output, which topped Beijing's forecast of 10.5... [Read more]

Shell wins employer of choice prize at top HR awards
DO YOU wish you could work from home instead of trudging into the office or leaving it early to fetch your children from school? These are just the kind of work-life balance initiatives that are in place at Shell Eastern Petroleum,... [Read more]

Companies in brief
ST ENGG WINS $68.5M TAIWAN TRAIN CONTRACTSINGAPORE Technologies Engineering (ST Engg) has won a $68.5 million contract from engineering firm Marubeni to supply communications and other electronic systems for a railway project in Taiwan. The company's electronics arm will design and... [Read more]

S'porean puts his bet on Johor biofuel plant
SINCE August last year, a Singaporean-owned biodiesel plant in Johor has been making 4,000 to 5,000 tonnes of the green fuel a month.In the next six months or so, Vance Bioenergy's plant in Pasir Gudang will treble its output. 'We have... [Read more]

Help for disabled: Call to relax funding rules
A SPECIAL committee wants all disabled persons' families - including those whose incomes may not clear means testing - to get financial help. It also hopes to get the nod for its proposal on giving more bosses access to funds to... [Read more]

Record number of older workers
MORE older people here are on the job in their golden years, although most are doing lower-skilled jobs such as cleaners, machine operators and sales workers.The proportion of workers aged 55 and older were at a 'record high' last year, said... [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]

BA strike may affect flights out of S'pore
THE planned 48-hour strike by British Airways (BA) cabin crew next Tuesday and Wednesday will not affect flights from Singapore to London on those days. However, flights on subsequent days could be affected if the strike takes place. BA passengers who... [Read more]

FairPrice to absorb GST hike for 6 months
SHOPPERS with rice and about 400 other essential items in their baskets at NTUC FairPrice supermarkets will not feel the pinch when the Goods and Services Tax (GST) is raised on July 1. This is because, for six months from that... [Read more]

Were you among the late-night shoppers?
THE year's first late-night shopping session took off yesterday, with four times more retailers joining in to get consumers spending until midnight.A dry run last year by 58 retailers was a success, with retailers reporting sales going up by as much... [Read more]

News Today

Pilot shortage forces Jetstar to cancel over 80 flights
A PILOT scarcity and the grounding of planes for routine maintenance has forced low-cost carrier Jetstar Asia to cancel more than 80 flights in the past six weeks. Passengers hit by the cancellations - more than 15 per cent of the... [Read more]

Tory leader 'smoked cannabis at Eton'
BRITISH opposition leader David Cameron yesterday refused to deny newspaper reports claiming he had smoked cannabis as a teenager. 'I'm not issuing denials,' Mr Cameron said. 'Like many people, I did things when I was young that I shouldn't have done... [Read more]

Thailand won't seize control of satellites
BANGKOK - THAILAND wants to 'properly' buy back ShinSat's satellites from Temasek Holdings, Thai military junta leader General Sonthi Boonyarataglin said yesterday, ruling out any sudden seizure. Speaking to reporters after a meeting of the powerful Council for National Security (CNS),... [Read more]

Directors' Trades
UNISTEEL DIRECTORS EXERCISE OPTIONS FOUR directors of Unisteel Technology have raised their direct stakes in the company by exercising their share options. The conversion follows Unisteel's release of its full-year earnings last Thursday, which beat most analysts' expectations. Unisteel, a specialist... [Read more]

Iraqi insurgents' new weapon: Bombs that contain chlorine
BAGHDAD - IRAQI insurgents have begun using bombs that combine explosives with chlorine gas in what officials fear is a new and deadly tactic against civilians. On Wednesday, a truck bomb combining explosives with the gas blew up in Baghdad, the... [Read more]

Impact of ban 'manageable'
INDONESIA'S ban on land sand exports came into effect this week, but the construction industry should not be overly worried because any impact will be manageable, a minister said here yesterday. Regular shipments of sand are arriving from new sources and... [Read more]

Chen claims China is 'provoking' Taiwan
TAIPEI - TAIWANESE President Chen Shui-bian has accused China of 'provoking' his government by targeting the island with nearly 1,000 missiles, rejecting claims that he was to blame for cross-strait tensions.He also pledged to continue his drive for a new Constitution... [Read more]

N. Korea, US more optimistic over talks
BEIJING - NORTH KOREA and the United States appeared to be entering a fresh round of six-way nuclear talks, which begins here today, with a greater willingness to compromise, analysts say.While negotiators are unlikely to reach a final deal over the... [Read more]

Could a wedding break the Gandhi-Bachchan ice?
IF THE Gandhis are the dominant clan in Indian politics, there is little doubt who calls the shots in Mumbai, headquarters of the nation's film world: The Bachchans are the first family of glamour. The city pauses when Amitabh Bachchan, India's... [Read more]

Online bomb hoax: Youth pleads guilty
A MAN who 'mooched' on a neighbour's unsecured wireless network to make a bomb hoax posting online caused alarm and got his neighbour arrested.Full-time national serviceman Lin Zhenghuang's hoax posting on Aug 1, 2005 - a day after the London subway... [Read more]

Young army on the march
WITH their Kids Army sweeping to the League Cup final - they slammed Tottenham 3-1 - Arsenal can claim to be the pace-setters among the Big Four in bringing through young talent.Of their starting XI at Tottenham on Wednesday, only Justin... [Read more]

February could be a good month for hedge funds

BOSTON - IRONICALLY, this week's sharp market declines may have been good for hedge funds.

While no final performance numbers for February have been released, consultants and investors who track hedge fund returns said the loosely regulated portfolios would likely post small gains. Mutual funds, however, will likely nurse losses.

Preliminary data from the Barclay Group show the average hedge fund slipped 0.27 per cent last month, said Mr Sol Waksman, the group's president. But with data from only about 100 funds recorded, he expects the overall number to be positive soon.

The Hennessee Group expects the average hedge fund to have returned between 1 per cent and 1.25 per cent last month after rising 1.48 per cent in January, its principal Charles Gradante said.

That may come as a surprise after the market tumbled on Tuesday and slipped for most of Thursday and as talk swirled that some hedge funds - no names were given - suffered such large losses that they will have to shut down.

Funds focusing on Asian stocks and riskier mortgages were said to have been especially vulnerable.

Hedge funds suffered their heaviest single-day losses ever on Tuesday, according to data from Hedge Fund Research. But investors also said many funds fared very well.

Certain arbitrage strategies that bet stocks would fall but bonds would rise, did well as equities tumbled and investors preferred the safety of bonds.

Similarly, some global macro managers were said to have made money on the bet that the dollar would decline, and a few players who put on contrarian bets that equities would fall, also fared well, the industry trackers said.

Indeed for some hedge funds, Tuesday's decline was a blessing because it finally delivered a chance for these funds, which use trading techniques such as selling stocks short, to differentiate themselves from mutual fund.

'When the market is going up, hedge funds can't outperform. But when you have corrections like this one, that is where the rubber hits the road and hedge fund can do better than mutual funds,' Hennessee's Mr Gradante said.

REUTERS

News Today

Bye to paper files - nursing students get PDAs
STUDENTS of nursing at Ngee Ann Polytechnic will be the first in Asia to have instant information at their fingertips.About 200 of them will be toting personal digital assistants (PDAs), which will enable them to access huge databases on drugs, diseases... [Read more]

A lesson in economic defence
SINGAPORE'S political leaders should seize on the ban on sand exports from Indonesia to impart an important lesson on total defence.How Singapore and the affected parties are responding to the emergency situation demonstrates the concept of economic defence.The Ministry of National... [Read more]

Passion crime brewed under Nasa's radar
HOUSTON - ASTRONAUT Lisa Nowak's attack on a rival for the affections of a fellow astronaut has sent shockwaves through a tight-knit Nasa community accustomed to crew members becoming role models, not a party to love triangles. Flight engineer Nowak was... [Read more]

Britain fears serial letter-bomber at work
LONDON - BRITAIN may be in the grip of a serial letter-bomber. A wave of attacks, described by police as coordinated, is inspiring comparisons with the so-called Unabomber in the US, who waged an 18-year campaign against airlines and universities that... [Read more]

Cole's injury blights Chelsea win
LONDON - CHELSEA may yet pay the ultimate price for Jose Mourinho's paring down his squad and Roman Abramovich's refusal to let his manager buy in the transfer window. With John Terry, Khalid Boulahrouz, Arjen Robben and Joe Cole already sidelined,... [Read more]

10 days later, funds still not with CPF
RECENTLY I had a problem with my CPF time deposit.My deposit with OCBC Bank matured on Jan 13 and the funds should have been credited into my CPF investment account with DBS Bank on Jan 15, according to OCBC staff.However, when... [Read more]

Staying resilient
MS MABEL Ong, 56, worked as a seamstress for many years in garment factories until her eyesight deteriorated when she was in her mid-forties. The single woman, who lives with her mother in a three-room HDB flat in Jalan Batu, started... [Read more]

Train bomb attack fails to derail India-Pakistan talks
NEW DELHI - INDIA and Pakistan appeared to be speaking a new language yesterday as Foreign Minister Khurshid Mahmud Kasuri arrived in New Delhi for talks, shrugging off a terrorist attack that killed more than 50 Pakistanis. Firebombs placed on the... [Read more]

Govt to pay market rate for land acquired
IN A significant departure from a decades-old practice, the Government intends to pay the prevailing market rate when it acquires land.This is a shift away from using pre-determined levels, which owners often argued were below market rates and had been a... [Read more]

US woman sets spacewalk record
AMERICAN astronaut Sunita Williams has now spent more time walking in space than any other woman, with a record of 22 hours and 27 minutes.Ms Williams, 41, broke the previous record of more than 21 hours on Sunday when she and... [Read more]

No mercy for Everton, says Crouch
LONDON - LIVERPOOL'S striker Peter Crouch is determined to put Everton in their place in today's Merseyside derby at Anfield. This season's 0-3 loss at Goodison Park is still a painful memory. 'It hurt a lot of players in the dressing... [Read more]

News Summary

'Perfect mum' ads scare off potential mothers
THE innocuous advertisement telling a mother to buy more assessment books for her child may not be that innocent after all. A new study by the National University of Singapore (NUS) shows that such messages are scaring some Singaporean women from... [Read more]

Hedblom wins Malaysian Open
SWEDEN'S Peter Hedblom shot a four-under 68 yesterday to win the Malaysian Open by one stroke from Frenchman Jean-Francois Lucquin. Hedblom made six birdies against two bogeys for an eight-under 280 at the Saujana Golf and Country Club to win the... [Read more]

Soccer Shorts
CHELSEA NEED MOURINHO, SAYS LAMPARDLONDON: Chelsea midfielder Frank Lampard admits it is difficult to think about life without manager Jose Mourinho at Stamford Bridge. There have been suggestions that Mourinho will quit at the end of the season after falling out... [Read more]

Fliers playing it safe - slow pick-up in duty-free sales
PLAY-IT-SAFE passengers flying from Changi Airport are still wary of having duty-free items aboard - five months after anti-terror restrictions were slapped on by certain countries.Duty-free sales at Changi Airport on the affected routes have picked up, but only marginally.The Civil... [Read more]

From S-League to greater things
THE S-League has featured players who have gone on to impress on the international stage.Geylang United's Hamidreza Estili was a stalwart of Iran's 1998 World Cup campaign. He also performed strongly at the 2000 Asian Cup. He, along with compatriots Mohammad... [Read more]

Smaller sites snapped up in new wave of collective sales
LARGE homes in prime areas may be all the rage, but some developers have quietly turned their attention to smaller sites outside the high-priced central districts. These bite-sized estates in popular residential suburbs are being swept up in a new wave... [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]

Thaksin's party loses 30 ex-lawmakers
BANGKOK - THE once-mighty party of ousted Thai prime minister Thaksin Shinawatra suffered another blow yesterday as 30 former lawmakers resigned.They all represented the impoverished Issan region of north-eastern Thailand, a key base of support for Mr Thaksin, who styled himself... [Read more]

Cheap but chilling terror message
LONDON - TERRORISM on the cheap but chilling nonetheless. An alleged militant plot to kidnap and behead 'Baghdad-style' a British Muslim soldier would have sent a cheap yet forceful message to British Muslims that they should not 'collaborate' with defence and... [Read more]

Bid for best chingay seats
The best seats for this year's Chingay Parade are just a click away. For the first time in the parade's history, five pairs of Chingay premium tickets and two pairs of standing spaces on the grand opening float are being put... [Read more]

Prince Harry to serve tour of duty in Iraq
LONDON - BRITAIN'S Prince Harry, an army officer and third in line to the British throne, is being deployed to Iraq, the Ministry of Defence said yesterday.A ministry spokesman said that the prince would be sent to Iraq with his 'A'... [Read more]