Obama calls for replacing sequester with balanced approach

WASHINGTON: US President Barack Obama urged Congress on Saturday to replace automatic across-the-board spending cuts known as the sequester with what he called "a balanced approach," which combines "smart" cuts with reforms.The appeal came the day after the president, complying with the law, signed an order bringing arbitrary cuts worth US$85 billion into force as well as a report by his...

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Italy's lefti-wing leader suggests loose alliance to end deadlock

ROME: Italian left-wing leader Pier Luigi Bersani on Friday held out the prospect of forming a minority government based on a loose alliance in parliament following inconclusive elections, as Europe puts on pressure for a quick solution."I am calling it a government of change, which I would take the responsibility of leading," the Democratic Party leader said in an interview with La Repubblica...

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SingPost sets up S$10m fund to help low-wage employees

SINGAPORE: SingPost is setting up a $10 million "Inclusivity Fund", which will benefit its low-wage workers.Over 70 per cent of the fund will go to helping the workers cope with the rising cost of living. This will include retention awards and enhancements to their wages.Part of the fund will also go into training to help them upgrade their skills.Staff with school-going children can also...

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Rehabilitative care innovation can alleviate manpower crunch: govt

SINGAPORE: The government said the use of technology not only accelerates the rehabilitation process of patients, but also helps ease manpower shortages in healthcare.The latest in "rehab innovations" for those with disabilities are on display at the inaugural Rehab Tech Asia exhibition in Singapore.The showcase includes a robot arm which allows users who are paralysed in their upper bodies...

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Keppel secures contracts worth S$200m from repeat customers

SINGAPORE : Keppel Offshore & Marine (Keppel O&M), a unit of Keppel Corp, said its subsidiaries have secured two contracts worth a combined value of S$200 million from repeat customers. In a filing with the Singapore Exchange on Tuesday, Keppel Corp said its Brazil subsidiary, Keppel FELS Brasil, secured a contract with MODEC and Toyo Offshore Production Systems to integrate...

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ESM Goh calls on S.Korea new leader

SINGAPORE: Emeritus Senior Minister Goh Chok Tong called on the President of the Republic of Korea (ROK) Madam Park Geun-hye in Seoul on Monday evening.Mr Goh had attended President Park's inauguration ceremony earlier in the day as Singapore's representative. Mr Goh conveyed the well-wishes of President Tony Tan Keng Yam, Prime Minister Lee Hsien Loong and Mr Lee Kuan Yew on President...

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Pope celebrates emotional last Sunday prayer

VATICAN CITY: Pope Benedict XVI delivered an emotional last Sunday prayer in St Peter's Square, saying God had told him to devote himself to prayer but assuring supporters he would not "abandon" the Church.Tens of thousands of supporters turned out for the historic prayers ahead of the pope's formal resignation on Thursday, often interrupting the pope with their clapping, cheering and...

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Maldivain ex-leader exits Indian embassy: New Delhi

NEW DELHI: Former Maldives president Mohamed Nasheed left the Indian embassy in the capital Male on Saturday, an Indian official said, 10 days after he sought refuge in the mission in a bid to avoid arrest.Nasheed's exit came after a Maldivian court earlier this week postponed his trial for abuse of power when he was in office and India sent an envoy to the nation of 330,000 Sunni Muslims...

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ECB says banks to repay US$80.5b in ultra-cheap loans

FRANKFURT: The European Central Bank said on Friday that 356 eurozone banks will repay early 61.1 billion euros ($80.5 billion) of a second batch of ultra-cheap three-year loans made available to them a year ago in emergency liquidity measures.Under the ECB's special long-term refinancing operations or LTROs, which it launched to avert a looming credit crunch in the single currency area,...

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Chingay Parade expected to draw 150,000 spectators

SINGAPORE: Organisers of this year's Chingay Parade are expecting a crowd of 150,000 people to turn up for the event.After 15 months of preparation, performers are finally ready for the stage.Rehearsals for the parade started on Thursday, and the parade will start at 8pm on Friday and on Saturday.The Chingay Parade will kick off with an opening act - a giant centipede made up of 60 performers...

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Football: Manchester Utd chief executive David Gill to step down

LONDON: David Gill is to step down as chief executive of Manchester United on June 30, the English football giants announced on Wednesday.In a statement on the club's official website, the 55-year-old Gill said his post-season exit would allow the Premier League leaders to "refresh themselves with new management and ideas".United added that executive vice chairman Ed Woodward would replace...

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Companies paying more bills on time

SINGAPORE: Companies are paying more bills on time, according to the Commercial Credit Bureau.The bureau said the number of prompt commercial payments rose to 51.59 per cent in the fourth quarter of last year. That is up by a moderate 2.29 percentage points from 49.3 per cent in the previous quarter. Prompt payment means a company has paid at least 90 per cent of its total bills within...

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Budget to include schemes to develop manpower for SMEs: Teo Ser Luck

SINGAPORE: The upcoming Singapore budget will include schemes to develop a larger pool of Singaporean workers to cater to the needs of Small and Medium Enterprises (SMEs), said Minister of State for Trade and Industry Teo Ser Luck on Monday. Mr Teo revealed this during a visit to a Soup Spoon outlet on Monday morning. The minister said that the Singapore government is looking at how to...

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Investment in research encourages young scientists to return to S'pore

SINGAPORE: Singapore has committed more resources toward research, innovation, and enterprise.It recently hosted the inaugural Global Young Scientists Summit, which brought many bright sparks of the international scientific community together.Several young researchers came back to Singapore to further their research, even though they hold qualifications from prestigious universities overseas.Ng...

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Govt looking to up support for social enterprises running hawker centres

SINGAPORE: The government is exploring ways to boost support to social enterprises and not-for-profit organisations, which are set to manage hawker centres of the future. This comes after a government-appointed hawker centre consultation panel recommended that social enterprises run hawker centres of the future, with the aims of giving the disadvantaged jobs, and providing the community...

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Former MM Lee Kuan Yew misses Lunar New Year dinner

SINGAPORE: Former Minister Mentor and Member of Parliament (MP) for Tanjong Pagar Group Representation Constituency (GRC), Mr Lee Kuan Yew did not attend the annual Lunar New year dinner at his GRC on Friday evening.Senior Minister of State for Law and MP for the area, Ms Indranee Rajah told grassroots leaders and residents at the dinner that Mr Lee was not feeling well and had extended...

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Cordlife Group posts S$5.6m net profit in fiscal Q2

SINGAPORE: Cord blood and tissue banking service provider Cordlife Group posted a net profit of S$5.6 million for its fiscal second quarter, boosted by a one-time disposal gain of $2.7 million.Excluding the disposal of its 10 per cent interest in China-based stem cell company, China Stem Cells (South) Company, Cordlife's underlying net profit grew over 50 per cent to S$3 million.Revenue...

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Bank of England says UK economic recovery in sight

LONDON: The Bank of England forecast on Wednesday that the British economy would experience a "slow but sustained" recovery, but 12-month inflation would top 3.0 percent in the summer months.Gross domestic product (GDP) was expected to grow by about 2.0 percent by the end of 2014 and remain positive despite some volatility amid the ongoing eurozone crisis, the central bank said in its...

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Thailand warns of possible threat to US consulate

BANGKOK: Thailand said on Tuesday that it had tightened security around the US consulate in the northern city of Chiang Mai in response to warnings of a possible terrorist threat.Prime Minister Yingluck Shinawatra said she had "instructed security officials to step up security protection" at the diplomatic facility."The US embassy did not make any special request but we have to be vigilant...

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Police face flak over Kumbh Mela tragedy as organiser quits

ALLAHABAD, India : Survivors of a stampede that killed 36 people at India's Kumbh Mela on Monday blamed the tragedy on baton-charging police and the slow response of medics as the massive festival's chief organiser resigned.The crush at a train station on Sunday evening at Allahabad marked a tragic end to the most auspicious day of the 55-day Hindu festival in the state of Uttar Pradesh...

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