TNM

Situation of foreign workers is generally good: says Singapore Minister

Singapore's Acting Minister for Manpower Tan Chuan-Jin has denied widespread abuse of foreign workers in the country, but he admitted the situation of foreign workers is not perfect.

On Monday, Tan told Parliament that his ministry last year helped thousands of foreign workers with difficulties, adding that he was therefore puzzled to listen that there was widespread and systemic abuse of the foreign workforce, which was the cause of the recent riot.

China’s economic growth slips to 7.7%, lowest since 1999

Chinese economy last year grew at the lowest rate in fourteen years as the country continued to suffer because of "complex and severe situation" at home and overseas.

The National Bureau of Statistics (NBS) on Monday released the country's economic data showing a growth of 7.7 per cent for 2013. The figure marked the economy's slowest growth since 1999, when the economy had grown 7.6 per cent.

Hong Kong’s Li Ka-Shing tops Bloomberg Billionaires Index; Macau’s Lui grabs 2nd spot

 Hong Kong's real estate investor Li Ka-Shing grabbed the top spot on the latest Bloomberg Billionaires Index, while gambling mogul Lui Che-Woo maintained his position as Asia's second-richest person.
 
With a fortune of $29.5 billion, Li continued to be the region's richest person; while Lui trailed grabbed the second spot with a fortune of $23.7 billion.
 
Li has been the richest person of Asia since April 9, 2012, when his fortune surpassed that of Indian billionaire Mukesh Ambani, the chairman of Reliance Industries Limited.

Asia Cup will go on even if any team decides not to participate: ACC

The Asia Cup will take place as scheduled even if any team decides not to take part in it, Asian Cricket Council (ACC) chief executive Ashraful Huq declared on Thursday.

Commenting on reports that Pakistan might withdraw from the tournament, which is scheduled to take place between February 25 and March 8 in Bangladesh, Huq also said that those who believe that the tournament would be shifted elsewhere were living in a fool's paradise.

East Asia facing growing threat of intense tropical cyclones: study

 East Asia is now more prone to be hit by powerful tropical cyclones than three decades back, a study by researcher at Seoul National University of South Korea has warned. 
 
The researchers led by Chang-Hoi Ho analyzed five separate data sets that documented the development of tropical cyclones across the north-west Pacific between 1977 and 2010, and found that East Asian countries like China, Korea and Japan have experienced increasingly powerful cyclones.
 

Sony Computer Entertainment aims to achieve greater level of expansion in Asia

Sony Computer Entertainment (SCE) has expressed its intentions to achieve a greater level of expansion in Asian markets.

Hiroshi Kawano, the president of SCE Japan and Asia, said that the company had always been looking at Asia and would continue to seek growth there as region was a promising market for the company.

Asia to lead world economic growth: Takehiko Nakao

Asia will continue to play a leading role in the growth of world economy in the coming decades despite short-term challenges, Asian Development Bank (ADB) President Takehiko Nakao said.
 
Mr. Nakao said Asia, which accounted for around 20 per cent of the world economy in 1990, now accounts for nearly 30 per cent. He added that a study by ADB showed that Asia could account for more than 50 per cent of global production by 2050.
 

Asian developers shifting focus to U.S., Europe

Real estate developers in Singapore and Hong Kong have started shifting their focus to foreign markets as demand in their respective domestic markets remains stubbornly low. 
 
Singaporean developer OUE Ltd is reportedly mulling a plan to make investments in New York and Miami cities of the United States. Last year, OUE agreed to purchase the tallest building California. 
 

Manila enjoys significant jump in rank in Asia-Pacific real estate survey

Manila has enjoyed a significant jump in ranking on the list of Asia-Pacific's most attractive real estate markets, according to a fresh survey report by Urban Land Institute (ULI) and PricewaterhouseCooper (PwC).

In the "Emerging Trends in Real Estate 2014," Manila grabbed the fourth rank in terms of real estate investment and development prospects. Only three cities, viz. Tokyo, Shanghai and Jakarta, are ahead of it.

U.S. condemns Afghan Govt.’s decision to release 72 prisoners

The Afghanistan Government's decision to release 72 prisoners has met severe condemnation from the United States, which consider the prisoners as dangerous criminals.
 
Hamid Karzai, President of Afghanistan, recently announced his government's decision to release the prisoners saying there was not sufficient evidence to keep them in prison. Karzai's spokesperson Aimal Faizi said that it was unfortunate to keep innocent Afghan people in detention without a trial, adding that it would be a violation of Afghan sovereignty.
 

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