Singapore - Singapore shares went through another selling spree Wednesday on reports the city state is likely to experience negative economic growth next year.

The Straits Times Index (STI) fell 1.3 per cent, or 22.95 points, to 1,784.01.

The STI was down by 22.51 points at mid-day.

The Singapore Exchange closed with 250 losers against 177 gainers.

Volume totaled 1,126.4 million shares.

The market has failed to sustain mid-morning and mid-afternoon recovery attempts, analysts said.

Singapore - The Singapore government will not bail out a multi-billion-dollar casino project by financially troubled Las Vegas Sands, the Channel News Asia (CNA) reported Wednesday.

But the government is considering reviewing the timeline of the Marina Bay Integrated Resort project, which is scheduled to be completed next year, reported CNA, citing Senior Minister of State for Trade and Industry S Iswaran.

Nevertheless, Iswaran has not ruled out involvement in the project by government-linked companies, saying these were commercial entities and it depended on their business sense.

RPG Group company CESC Ltd has decided to spend Rs 2000 crore in 3-5 years for strengthening its distribution network.

Recently, the company has tied-up with Singapore-based SP Global Solution (SGPC) for technical assistance in revamping its distribution system.  

Under the arrangement, SPGC, a subsidiary of Singapore Power Group, will offer three-fold consultancy for a year, which will involve strategic planning, technology application and process standardization for the 567-km licensed area of CESC.  

Singapore - Singapore share prices slipped lower Monday after having failed to sustain an early morning rally.

Singapore  - The Singapore Exchange (SGX) has proposed the creation of an integrated Asian stock market, its chief executive officer Hsieh Fu Hua said Monday.

He called on the ASEAN Exchanges and Central Securities Depositories (CSDs) to forge links that can be extended to the entire Asia-Pacific region.

"These multilateral gateways in trading, clearing and settlement will then help us create a single and more significant Asian marketplace," he said at the 12th general meeting of the Asia-Pacific Central Securities Depository Group in Singapore.

Singapore  - Singapore Prime Minister Lee Hsien Loong said the President-elect Barack Obama win in Tuesday's elections did not mean race was no longer an issue in the United States.

"People were tired, they wanted something different, and Mr Obama represented something different," the Sunday Times quoted Lee as saying.

Obama's victory marked a "historic change" for America, he said during a community dialogue on Saturday.