Singapore bourse bids to merge with Australian exchange

Singapores stockSingapore, Oct 25 : The Singapore Stock Exchange (SGX) said Monday it has entered a merger agreement with Australian bourse operator Australian Stock Exchange Ltd (ASX), in a move that would create one of the largest stock exchanges in the world.

The proposed deal would have a volume of about $8.3 billion in cash and stock bid, SGX said in a statement.

"The combination of ASX and SGX will create the world's fifth-largest listed exchange group with a broad international shareholder base," it said.

Marico set to takeover Singapore's Derma Rx

Marico set to takeover Singapore's Derma RxMarico, has said that it is looking forward to buy out Singapore-based company, Derma Rx Asia Pacific (Derma Rx).

The FMCG giant is going to this through its wholly-owned subsidiary, Kaya Limited. Derma is into the business of aesthetics and the takeover is another step in the organic development plan of Marico.

Trade between India and Singapore to reach $35 billion

Anand-SharmaOn Tuesday, the Minister for Commerce, Anand Sharma said that within next five years, the total trade between India and Singapore will become $35 billion.

During the joint press conference organized by India and Singapore, he said, "India and Singapore have agreed to work towards doubling bilateral trade from $16 billion to $32 billion by 2015."

He was supported by his Singaporean counterpart Lim Hng Kiang.

Noble says no to Macarthur

Noble says no to MacarthurNoble Group, a Singapore listed commodities firm, said that it is not interested in talks with Macarthur Coal Ltd. over Macarthur's offer to acquire Gloucester. Noble was addressing the Singapore stock exchange today. Noble is the major shareholder in the Australian coal firm Gloucester. Noble shareholders have already rejected the takeover bid from Macarthur last week.

GMR to see $200 million investment from Temasek

GMR to see $200 million investment from TemasekIndian infrastructure company, GMR Infrastructure is going to receive as much as $200 million as investment from Singapore's Temasek Holdings.

The agreement was reached on Friday and the Singaporean state investor is going to put this money into the power business of GMR. With this, it will expand its generation capacity as well.

Temasek has taken this decision looking at the huge potential and relatively very less competition in the Indian power sector.

Masks and N95 respirators are found to be effective prevention from H1N1

Masks and N95 respirators are found to be effective prevention from H1N1Researchers in Singapore have said that surgical masks may be as effective as N95 respirators in preventing hospital staff from catching H1N1.

The incidence of H1N1 among the hospital's healthcare workers was analyzed by study author Dr. Brenda Sze Peng Ang of the Tan Tock Seng Hospital in Singapore and colleagues.

Bharti enters African market through SPV route

Bharti enters African market through SPV routeBharti has made two special vehicles (SPVs) in the Netherlands and Singapore to implement the $ 10.7 billion deal. Bharti Airtel is in the concluding stage of acquiring stake in Zain Telecom's operations in Africa.

It is expected that deal would be signed in next 48 hrs in Netherlands by Zain and Bharti's senior officials. Zain has agreed to compensate Bharti in case of legal costs incurred by Bharti on ownerships disputes issues. Zain will also sign an indemnity clause i. e. a guarantee clause, which will be valid for few years.

‘Protein’ Present In Snake Venom Could Advance Drug Development

‘Protein’ Present In Snake Venom Could Advance Drug DevelopmentAccording to scientists, protein present in snake's venom has the potentiality for new drug invention and to boost understanding of disease methods.

The protein known as haditoxin was detected in Prof. Manjunatha Kini's research lab at the National University of Singapore.

Report's co-author Dr. S. Niru Nirthanan has characterized the pharmacological actions of haditoxin.

Dr. Nirthanan also said that haditoxin was unique with respect to structure unique and therefore expected to have unique pharmacological properties.

Flights to Mackay route confirmed

TigerAirwaysSingapore-based Tiger Airways, has dived in the best fare deals arena, with the $28 fare from Rockhampton to Brisbane, giving a green signal to the direct flights to Melbourne.

Australia's commercial director, Steve Burns discussed that the Tiger Airways is yet to decide the final schedule for its coming season, stretching arms from March 28 to October 2010. In the discussion, paving last week the Melbourne to Mackay route finalized, however the flight heading from Rockhampton to Melbourne are on hold. The news penetrated, once Jetstar finalized the decision to halt its daily flight from Rockhampton to Brisbane, effective from 10th May.

Tourism in Singapore Shows Signs of Improvement

Singapore-TourismWith the coming of 2010, Singapore's tourism seems to have been given a boost once again. During the year, the country is expecting to host 11.5 million to 12.5 million visitors and bag about S$17.5 Billion to S$18.5 Billion in tourism receipts. The figures have been shared by the Singapore Tourism Board and have been a result of the significant rise in tourist numbers recorded during the initial months of the year.

Wal-Mart Q4 net jumps 22% to $4.63 billion

Wal-Mart Q4 net jumps 22% to $4.63 billionRetail chain giant Wal-Mart Stores reported a 22 per cent increase in net profit at $4.63 billion for the fourth quarter, despite the decline in the US sales but it is supported by strong growth in its international sales and cost cutting measures taken during the quarter.

Company reported net earnings rise to $4.63billion against the $3.8 million for the same period of previous financial year and sales of the company recorded an increase of 4.6 percent over the year.

Singapore opens its first casino

Singapore has opened its first ever casino on the auspicious eve of the Chinese lunar year in a bid to diversify its economy. Lim Kok Thay, Chairman of Resorts World Sentosa and its developer, Malaysia's Genting Group said, "We are confident to meet our goal of 13 million visitors (per year)."

The move would turn the city-state into a playground for the rich Asian gamblers that would in turn push its economic growth. Initially selected guests would be allowed in the casino which is a part of S$6.59 billion resort located on Sentosa Island in the southern coast of Singapore.

Lee Asks Couples To Have More Kids

Lee Asks Couples To Have More KidsSingapore Prime Minister Lee Hsien Loong urged couples to have more kids as the city-state's birth rate declined to its lowest level during the last year.

In a note marking Sunday's start of the lunar Year of the Tiger, Lee said, "Despite all our efforts, we are producing far too few babies."

"Last year, we were short of at least 10,000 babies just to replace ourselves," he added.

Lee particularly advocated ethnic Chinese to ignore their false notions against kids born in a Year of the Tiger.

Singapore needs more babies for development -Prime minister asks couples

Singapore needs more babies for development -Prime minister asks couplesSingapore’s birth rate slipped to its lowest level ever in 2009 resulting the Prime Minister Lee Hsien Loong to ask couples to have more children. Lee said in a message marking Sunday's start of

the lunar Year of the Tiger," Despite all our efforts, we are producing far too few babies."

He added," Last year, we were short of at least 10,000 babies just to replace ourselves."

Singapore Rises Against Errant Doctors

Singapore has come up with a faster and fairer redress against negligent or unprofessional doctors, after the amendments to the Medical Registration Bill were passed in Parliament yesterday.

The changes introduced will enable medical watchdog Singapore Medical Council to exercise its power to maintain discipline against errant doctors.

The country witnessed a rise of 96 last year from 66 in 2003. Mr Khaw also cited an example of a complex case that took over five years to settle.

Singapore's need for doctors is urged by the growing population. The major need for the regulation was posed because of increasing foreign-trained doctors working in Singapore.

Sexually Transmitted Infections Witness a 10.6% Rise

Sexually transmitted infections apart, from HIV, witnessed a significant 10.6% rise in the recent three years in Singapore. The citizens accounted for about 62% of the number of infections.

The data suggests the number has raised from about 11,000 in 2006 to 12,300 in 2008, with gonorrhoea, non-gonococcal urethritis (NGU) and syphilis being the three main STIs.

Based on statistics from STI Control Clinic, one-third of the attendances were new cases, with two-thirds as follow-up cases. However, bad news is that there was no reduction in the cases seen at private clinics.

Also, the age wise data reported that 70% of the cases were young adults, in their 20s or 30s and for cases below 20, two-thirds were female. For those older than 20, two-thirds were male.

Qualitas Look Forward to Enter Primary Health Sector in Singapore

The Malaysian leading primary healthcare services provider, Catalist-listed Qualitas Medical Group has acquired 75 per cent stake in Dr Marcus Cooney & Associates Pte Ltd, which operates a Singapore dental clinic bearing the trade name 'SmileFocus'.

The Qualitas Group currently operates 166 clinics throughout the country.

The recent acquisition is cited to support its regional expansion, adding new branches in whole of Malaysia, emerging itself as a regional player in the primary health sector. However, the deal is speculated to be finalized in another three to six months.

Singapore man gets 24-year jail for raping daughter

Court-HammerSingapore, Jan 11 : A Singapore court Monday sentenced a man to 24 years in prison for raping his daughter over several years, a media report said.

The 57-year-old security guard, who was not named to protect the victim's identity, began abusing the girl in 2002 when she was 8 years old.

The attacks stopped in 2008 after the girl's mother found out about it, the online edition of Straits Times newspaper reported.

The couple also has four sons.

According to Singapore law, the man will not be caned because he is above the age of 50.(DPA)

Bangladeshi sentenced to death for killing girlfriend

Bangladeshi sentenced to death for killing girlfriendSingapore, Jan 9 - A Singapore court sentenced a Bangladeshi man to death for the murder of his Indonesian girlfriend, The Straits Times reported Saturday.

The court handed down the decision to hang Kamrul Hasan Abdul Quddus, 35, Friday.

Kamrul was convicted following a 20-day trial held in February and March last year.

The body of 25-year-old Yulia Afriyanti, who worked in Singapore as a maid, was found in December 2007 in a cardboard box at a construction site where Kamrul worked at the time.

Singapore economy shrinks in fourth quarter

Singapore economy shrinks in fourth quarterSingapore's Gross domestic Product (GDP), reeling under severe slowdown due to lower demand, shrank 6.8 per cent during the fourth quarter led by decline in the ailing manufacturing segment. However, the decline is less than what was earlier projected for the entire year.

Singapore's Trade Ministry informed that manufacturing segment, having significant contributing in the overall GDP of the city-state, contacted 34.4 per cent on seasonally adjusted basis during the reporting quarter compared to the 29.6 percent growth in the third quarter.

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