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TODAY - 2nd Edition, 9 January 2009


Article also available on Microfilm Reel NL29645


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TODAY Friday January g, 2009 we set you thinking

afternoon edition


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BIZ LATEST Sputtering Boeing Poor demand, production delays mean passenger jet deliveries for Boeing were down 15 per cent in 2008. Page Bl Banks won't budge The UK government expresses disappointment that banks are demurring on passing Bank of England interest rates cuts to its customers. Page B2


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NEWS LATEST Russian gas deal The EU announced that it has struck a deal with Russia to restart gas supplies, which had been halted after a disagreement with Ukraine. Page 16


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SPORTS LATEST In trouble again West Ham could see a fine of up to £30 million as it faces a new FA investigation into the Carlos Tevez affair. Page 62

UK cuts rate to historic low [ARTICLE]

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UK cuts rate to historic low THEDAILYTELEGRAPH LONDON The Bank of England cut interest rates to 1.5 per cent the lowest level in its 315-year history. The Bank repeated its plea for fresh action to help homeowners and businesses and warned that further measures were needed to help kick-start the

Price or a high lire [ARTICLE+ILLUSTRATION]

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Price or a high lire ANSLEYNG COPENHAGEN SHOOTINGS Roland Tan: From a Singapore kampung to Europe's underworld EMBROILED in extortion and fights from an early age, he was wanted in connection with the alleged murder of a rival gang member in 1969. But before detectives could bring him in,

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'Flyer fire an accident' last month's electrical fire six hours before power IN It at the Smgapore Flyer Control stored. The Flyer has r, MORNING Board Room was accidental, operatmg smce. IVI Wl\I"MI I "M V 3 sa.d the police and Smgapore The Flyer mana; C 7 Q|J Q N


Attitudes due for overhaul [ARTICLE+ILLUSTRATION]

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Attitudes due for overhaul LOHCHEEKONG OLDERWORKERS Laws on re-employment aside, social views, wage and employment terms must change: PM THE notion of older Singaporeans toiling in unglamorous jobs is still frowned upon by many here, and this has hampered the Government's "modestly successful" in Prime Minister Lee Hsien Loong's

We all need the human touch [ARTICLE]

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We all need the human touch LINYANQIN EVEN as older workers are encouraged to work longer, efforts in making the workplace more friendly to these seniors should not be forgotten. Small touches in the office, such as having more privacy between desks, clear signage and control over how bright they

Retirees are not any wiser [ARTICLE]

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Retirees are not any wiser ESTHER NG LIFE SAVINGS EVEN highly educated people can fall for scams proof that financial literacy alone is no guarantee against bad economic decisions. Mr Stephen Greenspan, a professor emeritus of psychology at the University of Colorado, came to this conclusion after personally falling

A vacation – right at home [ARTICLE+ILLUSTRATION]

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A vacation right at home TEOXUANWEI ESTHER NG LEONGWEEKEAT SINGAPORETOURISM Tourism players target locals to boost revenue AND j: SOON, you may find promotional pamphlets in your mailbox about the latest offerings at some tourist attractions here. Or chance upon attractive deals on the Internet peddling "staycations" in a


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WRONG TURN A Toyota Corolla crashed into Chiharu Japanese Restaurant, situated along Bukit Timah Road, near Sixth Avenue, at 2pm yesterday. There were only two customers at that time as the lunch crowd had dissipated. According to the restaurant manager, no one was hurt in the accident. PHOTO COURTESYCHIHARU JAPANESE

Pay your library fines or else... [ARTICLE]

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Pay your library fines or else... ZULOTHMAN NEW POLICY NLB will bar patrons with unpaid fines from borrowing materials TO RECLAIM about $7 million in unpaid library fines and fees, the National Library Board (NLB) is getting tougher on recalcitrant patrons to get them to pay up. From April,

Managing the 'musical rebellion [ARTICLE]

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Managing the 'musical rebellion LEONGWEEKEAT 938LIVE GLOBAL IP FORUM While intellectual property framework here is good, more can be done, say analysts IS THE intellectual property (IP) framework here in tune with others around the world? A European ambassador believes more can be done even as he acknowledges that

'It was unintentional,' says dead toddler's dad [ARTICLE+ILLUSTRATION]

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'It was unintentional,' says dead toddler's dad SUFIANSUDERMAN IT WAS a lonely courtroom for Mr Sallehan Allaudin yesterday morning. No friends, no relatives and, although he called out for her, no wife. Despite her absence, Madam Rozana Mohd Yusof did arrange for a lawyer to represent him as he

Asia is the new focus [ARTICLE+ILLUSTRATION]

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Asia is the new focus ONGDAILIN NUS'NEWVISIONAND MISSION NUSaimstobe a leading global university in Asia IN RECENT years, a number of special academic programmes have sprung up at the National University of Singapore (NUS) for small groups of its top students. That is about to change. The university's new

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r MANAGING THE 'MUSICAL REBELLION' While intellectual property framework here is good, more can be done, say analysts. 10 A

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DISQUIET AS THE POLLS DRAW NEAR WONG SAI WAN THE STAR NEWS ANALYSIS Lack of excitement in M'sian by-election points to unhappiness with candidates SOMETHING is amiss here in Kuala Terengganu there is a total lack of by-election excitement. In fact, one has to go outside the city to find

Pakistan's national security adviser fired [ARTICLE]

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Pakistan's national security adviser fired "AP INDIA-PAKISTAN TENSION ISLAMABAD Pakistan fired its national security adviser amid tensions following the Mumbai attacks, a possible sign of divisions in the weak civilian government over how to react to Indian and international demands it crack down on the alleged masterminds. Mr Mahmood Ali

Wanted in Texas, held in Bangkok [ARTICLE]

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Wanted in Texas, held in Bangkok AP BANGKOK An American wanted in Texas on child sex abuse charges was arrested yesterday in Thailand and could be sent to the United States within days, according to the District Attorney's Office in Houston. Confirming Thai reports, the office said it was "aware"

EU, Russia reach gas deal [ARTICLE]

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EU, Russia reach gas deal AP AFTERNOON LATEST Agreement reached on monitoring supplies going through Ukraine BRUSSELS The European Union said yesterday that gas supplies should restart after it struck a deal with Russia on supervising the flow of gas through Ukraine. Russia cut off natural gas supplies to Europe

Mystery illness hits 340 on cruise ship off Brazil [ARTICLE]

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Mystery illness hits 340 on cruise ship off Brazil AP RIO DEJANEIRO Hundreds of passengers on a Swiss-owned cruise ship have been stricken with severe vomiting and diarrhoea caused by a mysterious ailment, the Brazilian health officials said yesterday. At least 340 victims have been sickened on the MSC Sinfonia,

EU, Russia, Ukraine hold talks on gas crisis [ARTICLE]

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EU, Russia, Ukraine hold talks on gas crisis AFP BRUSSELS European Union officials held talks with top Russian and Ukrainian gas executives yesterday to iron out details on sending monitors to help end their gas dispute, officials said. The talks, aimed at quickly restoring natural gas supplies to the Ukraine

Rockets fired into Israel [ARTICLE+ILLUSTRATION]

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Rockets fired into Israel AP WAR IN GAZA Lebanese attack raises fears of conflict spreading JERUSALEM Lebanese militants fired at least three rockets into northern Israel yesterday, threatening to open a new front for the Jewish state as it pushed forward with its bloody offensive in the Gaza Strip. Israeli

US to head anti-pirate patrols [ARTICLE]

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US to head anti-pirate patrols AP DUBAI A new international force to battle pirates off the Somali coast is being formed under American command in a bid to focus more military resources to protect one of the world's key shipping lanes, the United States Navy said yesterday. But the new


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THE MIDDLE EAST'S GROUND ZERO THOMAS L FRIEDMAN THENEWYORKTIMES NEWS ANALYSIS Gaza faces region's three great struggles THE fighting, death and destruction in Gaza is painful to watch. But it's all too familiar. It's the latest version of the longest-running play in the modern Middle East, which, if I were



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AFGHANISTAN DETAINEES WANT GUANTANAMO RIGHTS AFP Four detainees held at the United States airbase in Bagram, Afghanistan, have urged a United States judge to grant them the same rights as prisoners held at Guantanamo Bay, Cuba. The two Yemenis, an Afghan and a Tunisian based their request on the US


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EBOLA-RESTON VIRUS JUMPS FROM MONKEYSTO PIGS .AFP United Nations experts yesterday began collecting samples from two Philippine pig farms closed by an outbreak of the Ebola-Reston virus. They need to determine whether the recentlydiscovered virus in pigs poses a threat to human health. The virus was first identified in October


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LOVE SPRAY BEING DEVELOPED BY SCIENTISTS THE DAILYTELEGRAPH Love really could be a drug, say scientists, who believe that one day the feelings may be induced by popping a pill or smelling perfume. Scientists are developing drugs that can boost that most human of emotions. They are studying the brain

Pandamonium at Beijing Zoo [ARTICLE]

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Pandamonium at Beijing Zoo AGENCIES ANIMAL INSTINCTS Hot-headed star attraction GuGu attacks again BEIJING A Beijing Zoo panda known for his bad temper has tasted human blood for the third time. Gu Gu, one of the venue's star attractions, attacked a man who jumped into the animal's enclosure to retrieve

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How secure are saved copies of IC? [LETTER]

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How secure are saved copies of IC? Chin KeeThou Letter from I RECENTLY sat in when a relative puchased an insurance product. The agent scanned her identity card and stored the images in his laptop computer, as he was required to do. I had a glimpse at his screen and


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I SAY WHAT'S THE POINT OF SCHOOL? ROYCHAN Subana Hall Not merely good grades-it should help kids start on a lifetime of learning IT IS evident from the recent letters in Today that the Singapore education system and the style of teaching is still a cause for concern for many.


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FOCUS ON THE FAMILY DRJAMES DOBSON BY.... DIFFUSING LOW SELF-ESTEEM Have you ever noticed that it's much easier to handle stress if you have some warning it's coming? There's something about knowing a tough experience lies ahead that helps us to get ready for the difficulty, to mobilise our resources

Employers' responsibility to treat workers fairly [LETTER]

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Employers' responsibility to treat workers fairly Koh Juan Kiat YeoGuat Kwang Letter from Chairman, Migrant Workers' Forum National Trades Union Congress (NTUC) and Executive Director Singapore National Employers Federation WE REFER to recent reports in the media concerning the non-payment of salaries to foreign workers and their living conditions. NTUC


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THE BRUTEIFUL GAME ON THE ROAD SHAMIR OSMAN WWW.TODAYONLINE.COM/BLOGS The Sporting Arena KICKING lumps out of the opposition seemed to be the motto of Vinny Jones and the Crazy Gang at the club formerly known as Wimbledon, and who can forget the shocking revelation ex-Man-chester United captain Roy Keane made

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jj||jr WO3K and STI Lv in the It 7-T FREE ORIENTATION J Ptirkroval Hotel uHufl^ 181 Kitchener Rd., Singapore J^^^^^^L January 18, 2009 (Sunday) 1:00 p.m. iJrA "Earn while you learn" Formoreinformation call: 629-***** 947-***** INTERNATIONAL STUDENT ADVISORS 27 Foch Road, soe-06,'07 Hoa Nam Building, Singapore 209 264 Tel. No-;

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Yes, he's the Guinness man [ARTICLE+ILLUSTRATION]

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Yes, he's the Guinness man CHRISTOPHER TOH MUSIC SOLIDGOLD But like a vintage pinot, HK star George Lam says he gets better with age HONG Kong star George Lam is known for many things: His trademark moustache; his marriage to Sally Yeh (on the rocks, if you believe the

'We are a group now' [ARTICLE+ILLUSTRATION]

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'We are a group now' CHRISTOPHERTOH IL DIVOSAYS Popular quartet II Divo return as a tour de force after a year's break THEY look good, dress good, sound good and, we're guessing, probably smell good, too. What's there not to like about II Divo? The four guys who make

Serving up the right stuff [ARTICLE+ILLUSTRATION]

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Serving up the right stuff MAY SEAH NEW ON TV Find out what Sarah Palin and getai have in common in a new sitcom sg MEDIACORPTV Channel s's newest sitcom Serves You Right is all about making the most of yourself. Starring Fiona Xie, Alaric Tay and Cassandra See,

The people choose Batman [ARTICLE+ILLUSTRATION]

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The people choose Batman AP THE Dark Knight (picture) soared away with every trophy it was nominated for at the 35th People's Choice Awards on Wednesday. The caped crusader flick won five awards, including Favorite Cast, Superhero, Action Movie and On-screen Match-up for Christian Bale's Batman and the late Heath


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PLUS IN ADDITION TIX FOR TAT Singapore's first tattoo event ever kicks off today and will end on Sunday. Organisers are spending up to $300,000 for the Singapore Tattoo Show, and with over 100 booths from all overthe world, including 21 from Singapore, it's believed to be the largest of

Hauntingly poignant [ARTICLE+ILLUSTRATION]

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Hauntingly poignant GENEVIEVELOH THEATRE REVIEW FROZEN ANGELS The opening show of Mi Singapore Fringe Festival is a subversive charmer AS SHE sits, tears welling up in her eyes, sharing her mother's epilepsy and her struggle to face it, he stands plainly, telling you about his father's death and conflicting

Jacko is back in California [ARTICLE]

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Jacko is back in California THE DAILYTELEGRAPH MICHAEL Jackson has moved back to California. The 50-year-old singer has signed a year-long lease on a plush estate in the exclusive Los Angeles neighbourhood of Bel Air, a spokesman for the singer said. The gated, French chateau-style home, which also boasts seven


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PLUS IN ADDITION SWEET LITTLE MYSTERY They postponed their last date at Zouk, but critics darlings Mystery Jets (picture) won't cancel on us this time. This Sunday, the London rockers come to Singapore for their first full-length concert in Asia, outside Japan. Undoubtedly influenced by the '80s, Mystery Jets bridge

The 'absolutely final' party [ARTICLE+ILLUSTRATION]

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The 'absolutely final' party CHRISTOPHERTOH NIGHTLIFE Popular nightspot The Butter Factory is throwing another farewell party IT WAS supposed to the big farewell party a mother of a blowout when popular nightspot The Butter Factory celebrated its last day at Robertson Quay last month to move to new digs

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Page 54 Miscellaneous Column 1 [MISCELLANEOUS]

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Page 56 Miscellaneous

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ON MEDIACORP SECONDS FROM DISASTER Pentagon 911 okto, 10pm The Pentagon: A symbol of power in defence of freedom. Twenty three thousand men and women work within its 5 concentric walls. At 8.15am, a plane receives clearance for take-off from Dulles Airport Washington DC. Onboard are 64 people, 5 of

Page 56 Miscellaneous Column 2 [MISCELLANEOUS]

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TV LISTINGS CHANNEL S.OOAM Entertainment Tonight 3.00 Trading Spouses 111 on HDS) 5.30 Prime Time Morning MeetYour New Mommy 11.00 Is That a Nail in Your Head? 9.30 The Ellen DeGeneres Show VI 4.00 Kyle XY: The Lies That Bind Collisions Falls DL Hugley/Jessica Cox 5.00 The Ellen DeGeneres Show

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ON MEDIACORP REUNION DINNER Channel 8, gpm \5» r i 1 Ah Chang works all night fixing pipes, only to earn $200. He gives whatever money he has left to his children but instead of using it wisely, they spend it on fast food. Starring Chen Li Ping as Ah

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Page 57

Usher in the Year of the Ox *.*i^ fj tt> at the bigger and better *S S^s^ Jurong Point, -w- m Singapore's largest suburban lifestyle paradise! I^^^L Dive head over heels into fresh retail therapy and with tasty pleasures for every palate. Then give in "^^a-* M .^p- to non-stop


Still no word on triathletes' fate, 70-plus days on [ARTICLE]

Page 58

Still no word on triathletes' fate, 70-plus days on LOW LIN FHOONG LAST October, national triathletes Mok Ying Ren and Dinah Chan were hauled up by the Triathlon Association of Singapore (TAS) for allegedly breaking team rules during the Asian Beach Games (Oct 18-26) in Bali, Indonesia. Team officials

A safe port in a storm [ARTICLE+ILLUSTRATION]

Page 58

A safe port in a storm TANYO-HINN THE EVERESTOFSAILING Minister hails Singapore's tourism strength as Volvo Ocean Race Village opens sg ALTHOUGH the economy is expected to worsen this year, Singapore's position as an attractive global sporting and tourist destination is expected to remain positive. Speaking at the official


Page 58

RONALDO CRASHES FERRARI, WALKS AWAY UNHURT AP Cristiano Ronaldo escaped injury yesterday after crashing his sports car on the way to training. The Manchester United star's Ferrari collided with a roadside barrier in a two-lane tunnel near Manchester Airport at 10:20 am local time, writing off the vehicle, police said.

Lions' injury concerns ease [ARTICLE+ILLUSTRATION]

Page 60

Lions' injury concerns ease 'TANYO-HINN SINGAPORE football team coach Radojko Avramovic's injury-list worries have eased in Dubai, where the Lions play Uzbek club Pakhtakor Tashkent tonight in a warm-up ahead of Wednesday's Asian Cup qualifier in Iran. Forwards Indra Sahdan and Agu Casmir (picture) have recovered from viral flu and


Page 60

THE FRIENDLY DERBY STEVE MCMAHON STRAIGHTTALK THE draw for the FA Cup's fourth round threw up the mouth-watering prospect of a Liverpool versus Everton clash, a game that means an awful lot to the people of Merseyside. Once the draw was made, the press in England went crazy and,

New twist to Tevez saga [ARTICLE+ILLUSTRATION]

Page 62

New twist to Tevez saga AP AFTERNOON EDITION FA reopens probe into West Ham #s transfer dealings LONDON West Ham will face a new inquiry in the Carlos Tevez affair. The Premier League and Football Association said yesterday they will investigate whether further rule breaches were committed by the Hammers



Page 62

13 PLAYERS, OFFICIALS IN DRUG PROBE AFP Thirteen football players and officials at Cypriot ist Division side APOP Kyniras face disciplinary action for alleged steroid violations, an official said yesterday. Anti-Doping Committee member Michael Petrou said all 13 including five players and the manager face a maximum four-year ban. He


Page 62

ARSENAL LOSETWO MORETO INJURY AFP Arsenal's hopes of regaining a place in the top four of the Premier League have suffered a blow with the news that defenders William Gallas and Mikael Silvestre have been ruled out for three weeks. Silvestre limped off during last weekend's FA Cup victory over

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SPORTS ON TV TODAY 7.15am Golf Mercedes Benz C'ship, Ch 26 9.30am NBA Knicks v Mavericks, Ch24 4.30pm Tennis JB Group Classic, Ch22 spm Tennis Hopman Cup, Ch 24 6.45pm Golf Joburg Open, Ch 26 gpm Tennis Qatar Open, Ch 24 ?P9..?1S .9.5 RAJMO 6.35am-n.3spm SportsZone Minutes Hourly Sports updates

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I l-^Ai >'/^3/xv\r'l V it™?! i 'i/i Iff T IP^ U- y^^^J -1 ~m I > J Raffles City 6334 5951 Suntec City 6336 9093 Heeren 6737 1917 Bugis Junction 6337 8353 Takashimaya 6235 2139 Plaza Singapura 6334 8042 Junction 8 6258 8355 Jurong Point 6795 7309 Changi Airport T3

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BUDDHA VIHARA SOCIETY IT Course of Diploma in Buddhism (One Year Course In English) I Lecturer: Ven. Dr. Galle Udita Maha Nayake Thero HgWfi Classes will commence in March 09: I Registration is now open! i^gWl Eik|uirii>: •ifii}+'

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Page 60

KEY SUCCESS FACTORS REVEALED! RIDING THROUGH 2009 Master Tay will reveal what it takes to outperform others in 2009. Book your answers now. Venue Suntec City Convention Date 17 th January 2009, Saturday Time 1.30 pm to 5.00 pm Fee Early Bird Special $50 Registration: SMS *****355 rfir^L Seats

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-^3 Milk Captivating Chinese Musical Sensation A U H^.. 1 °Jan"lB Jan 2009 Level 2' Central Atrium Partner Official Card: MARINAISQUARE jfr am a| 6 Raffles Boulevard Singapore *****4 Tel: *****787 1 lee hwa jewellery (JOB CARDS

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Page 62

SPORTS BET INU WITH THE LEGAL BOOKMAKER Italian League Roma Milan Mon, 12/01/09 3.30 am Other Italian League, E Premier, E League Champ and Spanish League matches ate also on sale. For more details, please check Singapore Pools website. LA EMBAJADA DE ESPANA en Singapur convoca una plaza de Las

Page 62 Miscellaneous

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Have a rocking good time [ARTICLE+ILLUSTRATION]

Page 64

Have a rocking good time PETER LI JIANLIANG REVIEWGUITAR HERO WORLD TOUR Now you can groove to the beat of your own compositions THE latest addition to the Guitar Hero series, Guitar Hero World Tour (GHWT), introduces several features that place them on par with the popular Rockband series.


Page 64

Light that fire CHRISTOPHERTOH ONE year after guitar manufacturer Gibson released the revolutionary Robot Guitar, it has come up with a successor: The limitededition Dark Fire (picture). The new electric or should we say, electronic guitar incorporates a lot of the look and feel of its predecessor, but goes heavy

Enough with the iPhone killing, already [ARTICLE+ILLUSTRATION]

Page 66

Enough with the iPhone killing, already HEDIRMAN SUPIAN TECH PREDICTIONS Here are some of the tech things we don't want to see sg BY NOW, you've probably read more than your fair share of predictions on the next big thing in technology for 2009. Such predictions bore me usually

See you @ the Webbies [ARTICLE+ILLUSTRATION]

Page 66

See you the Webbies HEDIRMANSUPIAN FANCY getting an award for your website? The Webby Awards, an international award honouring the best websites and Internet applications, is calling out for entries from Singapore. Organisations, agencies and individuals can submit entries in over 100 categories, such as blogs, and features categories like

The e-Zii way of speeding up multimedia content [ARTICLE+ILLUSTRATION]

Page 66

The e-Zii way of speeding up multimedia content HEDIRMANSUPIAN A UNIVERSAL processing chip from Creative Technology was launched amid v much hype at the annual Consumer Electronics Show in Las Vegas yesterday. Developed to accelerate multimedia and graphics, the ZiiLABS ZMS-05 processor is able to process high-definition content with ease

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Page 64

i^S&K- YOU CAN REDEFINE TECHNOLOGY flj ML AT SUN TECH DAYS! Sun Tech Days is back! Packed with over 40 technical sessions and live demonstrations, B^^^B this worldwide developer event is set to be "THE" technology showcase of 2009! YOU get to experience the coolest technology in action; grow your

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/-^T^v LG recommends Windows® for everyday computing uOwm f^ IR -fIL FREEDOM OF MOBILira sf Mobility starts with XllO C^cflP^ Q. 5, 'HSUPA3.7SG Embedded Intel® Atom™ N270 I.6GHz Processor |^^L f ik. r'';^!ft O a 3"'^ nte 945GSE Graphics IGB DDR2-667 Microsoft* Windows XP Mbklß if B^ .<M W^.' J

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////////1' ifafir'4^ A w/^^^H ■*iJB'P» T'^^^'flF'r*w j^N W//////// P KnSSßv^Si wOl This festive season, your senses will have great reasons to celebrate with our explosive value vi^ promotions. Kick-start the Lunar New Year with your favourite songs filling the air and your senses in the most resounding way. Also waiting


Biggest snortrall [ARTICLE]

Page 71

Biggest snortrall US BUDGET 2009 Deficit of $1.5 trillion is the biggest since World War II THE United States budget deficit will more than double this yearto at least US$l.lB trillion ($1.5 trillion) the biggest since World War 11, as the recession and government bailouts take a toll, says the

Lenovo falls on hard times [ARTICLE+ILLUSTRATION]

Page 73

Lenovo falls on hard times AGENCIES JOB CUTS SHARES of Lenovo Group tumbled yesterday, after the world's fourth-largest computer-maker forecast its first loss in three years and said it would lay off 11 per cent of its workforce and cut executive pay. Beijing-based Lenovo said yesterday it will eliminate about

Intel will miss already-lowered targets [ARTICLE]

Page 73

Intel will miss already-lowered targets AP EVEN after sharply reducing its outlook for the fourth quarter, Intel Corp expects to miss its revenue projection by about US$5OO million ($742 million), a sign that personal computer makers and buyers are becoming even more tight-fisted. Santa Clara, California-based Intel the world's largest

Prolonged crisis without stimulus plan: Obama [ARTICLE+ILLUSTRATION]

Page 74

Prolonged crisis without stimulus plan: Obama AP US ECONOMY FAIRFAX (Virginia) President-elect Barack Obama warned of dire and lasting consequences if the United States Congress does not pump unprecedented dollars into the US economy, making an urgent pitch yesterday for his mammoth spending proposal in his first speech since his

On a collision course [ARTICLE]

Page 75

On a collision course THE GUARDIAN AFTERNOON LATEST UK banks demur on passing on rates cut to customers LONDON Many of Britain's major banks looked on a collision course with the government yesterday after they said merely that they were keeping their main lending rates "under review" in spite of



Page 75

US CONSUMER BORROWING FALLS RECORD $11.7 BILLION BLOOMBERG Consumer borrowing dropped by a record US$7.9 billion ($11.7 billion) in November as Americans scrambled to boost savings in face of the deepening recession and amid an investor exodus from securities backed by credit-card and other loans. The slump brought consumer credit


Page 75

2008 WAS WORST YEAR EVER FOR HEDGE FUNDS BLOOMBERG Hedge funds lost 18.3 per cent in 2008, their worst year on record, as managers misjudged the severity of the biggest financial crisis since the Great Depression. A gain of 0.42 per cent in December lessened the average loss for the

afternoon edition


Page 76

$255M IN CHEQUES ON HIS DESK THE GUARDIAN NEW YORK Mr Bernard Madoff had US$l73 million ($255 million) in signed cheques on his office desk when he was arrested, which prosecutors say shows he sought to keep assets from fleeced investors. In a filing in a federal court in New

Another day, another Ponzi [ARTICLE]

Page 76

Another day, another Ponzi BLOOMBERG PHILADELPHIA United States regulators yesterday sued a investment-fund manager and his firm, claiming he has been running a US$5O-million ($73.8-million) Ponzi scheme since at least 1995 that bilked charities and schools. Mr Joseph Forte raised funds from as many as 80 clients and withdrew millions

A $2.9b paper loss [ARTICLE]

Page 76

A $2.9b paper loss TAN HUI LENG MERRILL LYNCH STAKE Temasek's unrealised losses from this and other investments in banks in the spotlight WITH no respite in sight amid the financial crisis, Temasek Holding's investments in the banking sector have come under increasing scrutiny as the Financial Times (FT)

Boeing lags behind Airbus [ARTICLE]

Page 76

Boeing lags behind Airbus AP PITTSBURGH Hurt by a lateyear strike and shrinking airline demand, Boeing's passenger jet deliveries fell 15 per cent in 2008, ensuring that archrival Airbus retained its rank as the world's top plane maker. The US firm yesterday reported 375 deliveries for 2008, down from 441

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1 p»##c^ I s^ *Simply guess the first number of the Ist prize for 4D 1 > I ff f^ f |f I '£^f X*V^ *\T V^t-^ >* draw (Wednesday, 21 JAN 2009) and stand to win 1 I I I J+ L* JL* J^X A L* 50% rebate via

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Page 70

1 Jiff M^ I''., yW»* V Natarajar Temple Chidambaram WHAT A BOOK CANT TELL YOU IN A THOUSAND WORDS. You look around the Chidambaram temple and you'll know why It is one of the most celebrated shrines In India. Standing tall against the scenic backdrop of the a t K

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Celebrate the Magic at Chang! Airport The perfect start to a prosperous New Year! Ring in the festive cheer amidst dazzling lights and decorations at Changi Airport this Chinese New Year. With a host of festive shopping deals, it's the perfect way to invite good fortune in this season of

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Page 73

HI "I SPENT 5 DAYS miH^p nflllin y^ m I If IB I Bm »tf^ v \v I ■"AGI Mr Hliilll HMllk J^ When my second child was born, I should have f been happy. Instead, it turned out to be a very i painful time; soon after his birth,

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