The Marine Corps bills itself as a career-building experience, and we've found lots of successful people who confirm this.
You probably had no idea that these men served, but you know their other work.
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krisluke
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15-Jul-2012 12:39
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Spain announces fresh round of austerity
MADRID, July 14 (Reuters) - Recession-plagued Spain unveiled new austerity measures on Wednesday designed to slash 65 billion euros ($79.7 billion) from the public deficit by 2014 as Prime Minister Mariano Rajoy yielded to EU pressure to try to avoid a full state bailout.
Madrid estimates the impact of the measures at approximately 13.5 billion euros in the remainder of 2012, 22.9 billion euros in 2013, and 20 billion euros in 2014, excluding further measures, such as energy to be announced at a later date. Spain must cut its public deficit of 8.9 percent of gross domestic product to 6.3 percent in 2012, 4.5 percent in 2013 and 2.8 percent in 2014. Following are the details of new measures to meet this goal. TAX CHANGES - A Value Added Tax on goods and services raised to 21 percent from 18 percent. - A tax hike on tobacco. - A new energy tax system will be implemented. It will be complemented by a change to environment-related taxes to punish contamination. - A tax deduction for new buyers of primary homes will be eliminated from 2013, only one year after being restored by the new centre-right government. - Elimination of a tax deduction on primary homes purchased before January 20, 2006. PUBLIC EMPLOYMENT - Elimination of a Christmas bonus for public employees and senior government officials beginning in 2012. However, public employees may be compensated for losing their bonuses with a contribution to pension funds from 2015 if the government is meeting its deficit goal. - Reduction in the number of days of leave allowed for public employees. PUBLIC ADMINISTRATION - Reforms to streamline local administrations and remove town hall services that cannot be financed to save 3.5 billion euros. - Increased oversight of local public accounts. - Homogenization and publication of mayors' and town councillors' wages. - An around 30 percent cut in the number of town councillors according to the size of population. - Elimination of public companies and foundations. - Liquidity mechanism to help regional funding. - The government also reserves the right to ignore public sector wage agreements in the event of serious threats to public interest or significant changes in the economy. EMPLOYMENT AND SOCIAL SECURITY - A proposal to accelerate pension reform and address early retirements. - The maximum period for unemployment benefits will remain 24 months but after the first six month benefits will be reduced to 50 percent from 60 percent of base pay to encourage the unemployed to look for jobs. - Elimination of unemployment benefits if the government discovers evidence of fraud. - Elimination of a large number of bonuses for hiring, with the exception of some for entrepreneurs or the disabled. - However, social security contributions from companies will be reduced by one percentage point in 2013 and a further percentage point in 2014. OTHER MEASURES TO REDUCE PUBLIC SPENDING - New budget cuts at the ministries, worth 600 million euros. - A 20 percent funding cut for trade unions and political parties starting next year. - A reduction in social benefits for the elderly and infirm who are cared for by others. LIBERALISATION OF TRANSPORTS - The liberalisation of transport services and the privatisation of airport, port and rail assets. ENERGY SECTOR REFORM - A reform of the energy sector will be presented with a view to solving an energy tariff deficit of more than 25 billion euros per year. - The burden will be shared between consumers and companies, Rajoy said. ($1 = 0.8160 euros) (Reporting by the Madrid bureau, writing by Tracy Rucinski editing by Keiron Henderson) |
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krisluke
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15-Jul-2012 12:33
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South Korea's finance workers plan first strike in 12 years
South Korea\'s finance workers plan first strike in 12 years
SEOUL (Reuters) - Over 70,000 financial sector workers in South Korea voted on Friday to stage their first industry-wide strike in 12 years later this month, adding to concerns over a possible resurgence of major labour unrest in Asia's fourth-biggest economy. There are already signs that other unions are using more militant tactics as the economic outlook darkens, and many South Korean households struggle to pay off heavy debts. On Friday, the country's Metal Workers Union, which also includes about 45,000 workers at Hyundai Motor, staged a partial walkout, while transport workers including taxi drivers and truckers went on strike last month. The country's once-powerful trade unions, largely silenced by conservative President Lee Myung-bak's tough anti-labour stance since he came to power in 2008, are demanding better working conditions as this year's presidential elections approach and Lee's mandatory single term draws to an end. " The labour groups have been suppressed under the current Lee Myung-bak administration, and they are raising their voices with President Lee losing grip in his final year," said Lee Sung-hee, a research fellow at Korea Labor Institute. " The ongoing labour disputes are unlikely to come to an end soon as it will be difficult to narrow differences over working conditions," he said. The Korean Financial Industry Union brings together more than 93,000 members in South Korea's financial industry, which accounted for 6.6 percent of the country's gross domestic product in 2010. It said participation is expected to be high after around 91 percent of voting members agreed to a full strike on July 30. The strike is not likely to mean a total shutdown of banking operations, but transactions may be delayed, the union chief at Woori Bank said. The union wants the government to stop the privatisation of financial groups Woori Finance Holdings and KDB Financial Group. It has threatened a further strike next month should their demands not be met. NIGHT SHIFT As well as Hyundai Motor, its affiliate Kia Motors, and the South Korean unit of General Motors also planned to join the umbrella Metal Workers' Union in Friday's partial strike. The Metal Workers' Union called its strike to highlight its demands that overnight work is scrapped, a proposal that has raised concerns among carmakers about production losses. The eight-hour stoppage on Friday will cost Hyundai an estimated 4,300 vehicles in lost production worth or 88 billion Korean won (49.53 million pounds), according to a company spokesman. He said the labour union is staging a " political, reckless strike" which would hurt corporate competitiveness during the global economic downturn. Hyundai's union leadership will decide on any future action on Monday, including whether to resume talks or to stage more strikes. Hyundai shares rebounded from six consecutive days of falls on Friday, ending up 3.43 percent. Some analysts said they did not expect a prolonged strike at Hyundai, but should it be drawn out, it would hurt Hyundai's sales and profits because of its low car inventory. " I don't think that working conditions are so bad at Hyundai factories that workers can't stand it anymore. It will be too much if the union stages full strike," said Shin Chung-kwan, an analyst at KB Investment & Securities. |
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krisluke
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15-Jul-2012 12:31
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Most Greeks want new government to renegotiate bailout: poll
Most Greeks want new government to renegotiate bailout: poll
ATHENS (Reuters) - Most Greeks want the government to renegotiate the terms of its EU/IMF bailout regardless of the impact this stance would have on the country's future in the eurozone, a poll showed on Saturday. Greece is dependent on the funds from Brussels and the IMF for day to day state spending but in exchange for a second, 130 billion-euro bailout it is implementing spending cuts that have pushed it into its worst recession since World War Two and put one in five out of work. An MRB poll for Sunday's Realnews showed that 73.9 percent of Greeks want the new coalition government to stick to its promises and demand a renegotiation of the bailout, even if this puts the country's euro membership at risk. More than half of those polled said they believed Greece would stay in the euro zone, while 60.4 percent said international lenders would probably give Greece more time to implement the deficit-cutting measures they have prescribed or ease the terms of the bailout. Greece's new finance minister, Yannis Stournaras, met his euro zone counterparts last Monday in Brussels and promised to meet the terms of the existing financial rescue. Athens has conceded that it has fallen behind agreed targets and some euro zone officials have warned the country will get no further aid until it gets back on track with reforms. European officials, however, have also said the money will be found to keep Greece going until after inspectors revisit Athens later this month. In another poll by Kapa Research for To Vima newspaper, a majority of Greeks said the government should immediately renegotiate the bailout, while more than 90 percent said they opposed any further tax hikes or wage cuts. The polls are among the first published since a re-run election on June 17, which gave the conservatives a slight lead over the radical leftist SYRIZA party that opposes the bailout. Both surveys showed conservative New Democracy leading again if elections were held now. INSPECTION After a short initial visit to Athens to meet government officials, a mission of European and IMF officials will return on July 24 for more formal talks on Greece's faltering progress in hitting its targets, before deciding whether to disburse more aid. Greece is expected to spell out measures worth 11.7 billion euros for 2013-2014 this week. The new government has said it will try to reverse or replace some of the budget cuts and reforms agreed in March as part of the country's second bailout. Prime Minister Antonis Samaras' coalition government initially outlined an ambitious wishlist of changes to modify the country's latest bailout programme but has struck a more conciliatory tone in recent days as it faces the prospect of running out of money without more aid. Samaras' government got off to a rocky start with three ministers resigning in as many weeks and internal rifts have emerged over the coalition's stance on the bailout. At the Eurogroup meeting last Monday, finance minister Yannis Stournaras did not present his government's request for another two years to meet deficit targets saying that would be done only when reform plans are back on track. Instead, the government plans to implement 3 billion euros worth of previously-agreed measures to reduce its deficit this year, with European partners insisting that Greece should carry out its promises despite a deeper-than-expected recession and delays due to repeat elections. " We are doing everything we can to meet the targets," deputy finance minister Christos Staikouras told Sunday's Ethnos newspaper. " Given the current circumstances, we won't need to take any extra measures this year." (Reporting by Renee Maltezou editing by Patrick Graham) |
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krisluke
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15-Jul-2012 12:08
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20 People You Didn't Know Were United States MarinesDrew Carey
Drew Carey enlisted in the U.S. Marine Corps Reserve in 1980 and served for six years. Since then, he's had his own successful sitcom, hosted the improv show Who's Line Is It Anyway? and currently is the host of The Price Is Right.
Montel Williams
Montel Williams joined the Marines and went to boot camp at Parris Island, South Carolina right after high school. He was groomed for leadership and sent to the Naval Academy Preparatory School and went to the Naval Academy. Williams spent several years aboard submarines and working in the intelligence sphere.
He started the successful talk show The Montel Williams Show in 1991. Rob Riggle
Daily Show Corespondent Rob Riggle served in Kosovo, Liberia and Afghanistan
Rob Riggle is currently a Lieutenant Colonel in the Marine Corps Reserve. He's a public affairs officer with the NYC unit, and has received the Combat Action ribbon. Right now, he's an active comedian, he's been in multiple comedies, and he remains a corespondent for the Daily Show with Jon Stewart. Shaggy
Orville Burrell served in Operation Desert Storm before he became rapper Shaggy.
Shaggy — best known for his 2000 hit single " It Wasn't Me" — is originally from Kingston, Jamaica. He joined the Marine Corps as a Field Artillery Cannon Crewmember. Glen Bell
Businessman Glen Bell served in the Marines in the second world war. After, he opened his first restaurant, a hot dog stand. He later sold tacos for 19 cents each, and opened his first Taco Bell in 1962. He sold the 868-restaurant chain to Pepsi in 1978 for $125 million in stock.
James Carville Courtesy of MSNBC Bob Parsons
Self-made businessman Bob Parsons enlisted in the Marines and served as a rifleman in the Delta Company of the 1st Battalion, 26th Marines in the Quang Nam Province of Vietnam.
He was wounded and spent two months recovering. He received the combat action ribbon, the Vietnam Gallantry Cross, and the Purple Heart. He would go on to found GoDaddy.com, a major domain registrar. Gene Hackman
Gene Hackman left home at sixteen and signed up for the Marine Corps, serving more than four years as a Field radio operator.
Hackman would go on to star in dozens of films, playing Lex Luthor in the Superman films as well as sustaining a forty year career. Harvey Keitel
Harvey Keitel joined the Marines at sixteen and served during Operation Blue Bat in Lebanon in 1958.
He's since been an iconic and prolific actor, working multiple times with directors Martin Scorsese, Paul Auster, and Quentin Tarantino. Rev. Jeremiah Wright
The Reverend Jeremiah Wright, whose remarks proved a complex and controversial event in the 2008 presidential campaign, served in the Marine Corps in the 2nd Marine Division from 1961 to 1963. He later served in the Navy as a cardiopulmonary technician.
He's currently the Pastor Emeritus of the Trinity United Church of Christ in Chicago. Jim Lehrer
Jim Lehrer, the host of The NewsHour with Jim Lehrer and PBS NewsHour, joined the Marine Corps after graduating from the Missouri School of Journalism.
Tom Monaghan
Tom Monaghan accidentally enlisted in the Marine Corps in 1956, originally trying to sign up for the Army. He received an honorable discharge in 1959, and would go on to found Domino's Pizza and own the Detroit Tigers.
Sandy Alderson
Sandy Alderson served a tour of Duty in Vietnam before attending Harvard Law School. He would go on to mentor Moneyball figure Billy Beane as the General Manager of the Oakland A's. He was a very early believer in sabremetrics, and currently is the GM of the Mets.
Fred Smith Daniel Goodman / Business Insider Lee Harvey Oswald
The accused assassin of President John F. Kennedy enlisted in the Marine Corps in 1956 at the age of 17. He was primarily trained as a radar operator and was granted degrees of security clearance. He barely earned the designation of marksman during shooting tests. He received a hardship discharge in 1959.
Steve Wilkos
Steve Wilkos spent nearly a decade in the Marine Corps and spent time in the Chicago Police Department before signing on with Jerry Springer to serve as on-air security. He was given his own show in 2007.
George C. Scott
George C. Scott served in the Marines from 1945 to 1949. He would go on to play Patton in the film of the same name and a lead role in Dr. Strangelove, or How I Learned to Stop Worrying and Love the Bomb.
Bob Keeshan a.k.a. Captain Kangaroo.
Bob Keeshan graduated early from High School and enlisted in the Marines with the intention to fight the war against the Japanese, but the war ended before he saw the Pacific. He would go on to pioneer children's television with his role playing Captain Kangaroo.
Jim Beaver
Jim Beaver spent time in the Marine Corps as a microwave radio relay technician. He joined in 1968 and remained in the Marines until 1971, staying in the reserves until 1976. He played prospector Whitney Ellsworth to much acclaim on HBO drama Deadwood.
Don Imus How tough are these guys? |
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krisluke
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15-Jul-2012 12:03
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The Highest Paid Celebrities Under 30 Forbes just announced the top 10 highest paid stars under the age of 30.
The list was based on album and concert sales, movie paydays, profit participation, endorsement, and advertising work between May 2011 and May 2012. We're happy to report that women dominate the list and while all of them are household names, there are still a few surprises. Let's just say it was a good year for vampires and werewolves. All of the following numbers are based on Forbes research. 10. $26.5M: Robert Pattinson Getty Images / Stuart Wilson 9. $26.5M: Taylor Lautner Getty Images / Jason Merritt 8. $27M: Lil' Wayne Getty Images / Mark Davis 7. $34.5M: Kristen Stewart Getty Images / Ben Pruchnie 6. $35M: Adele Getty Images / Gareth Cattermole 5. $45M: Katy Perry Getty Images / Jason Merritt 4. $52M: Lady Gaga Getty Images / Handout 3. $53M: Rihanna Getty Images / Franck Prevel 2. $55M: Justin Bieber Getty Images / Roger Kisby 1. $57M: Taylor Swift Getty Images / Jason Merritt |
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Punter77
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09-Jul-2012 12:08
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good post.... good analysis backed with good TA & fundamental analysis,,,, respected sifu |
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krisluke
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09-Jul-2012 11:56
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SG Market: S’pore shares appear likely to snap an 8-session winning streak, tracking falls on Wall Street after US jobs data disappointed. Traders opine that the job creation is too low to raise hopes the US will lead the global economy into stronger growth, but too high to warrant a fresh injection of asset buying. The STI could find initial support at 2950 with firmer ground at 2910. The local market is also due for a correction with technical indicators very much in overbought territory. Among stocks in focus, CapitaLand will buy a S’pore property from ART for $359m and sell it back after redeveloping it. Genting S’pore will face pressure as regulators propose tougher casino rules. |
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krisluke
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09-Jul-2012 04:31
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Wall St Week Ahead: Stimulus moves, profits to be focus
NYSE
NEW YORK, July 8 (Reuters) - Wall Street has been running in circles for the past two months, and the pattern may continue despite the upcoming start of the earnings season. Quarterly report cards from blue-chips Alcoa and JPMorgan this week could fade into the background as traders jockey for position before key data from China and more central bank headlines. After three major central banks eased monetary policy last week, investors will comb through the minutes of the latest Federal Reserve policy meeting, which will be released on Wednesday, to see what officials said about a further round of asset purchases. U.S. stocks face headwinds from a slowing global economy. Europe's debt crisis has drawn much of the attention, but little clarity has emerged about how the euro zone's debt and banking problems will be fixed despite numerous meetings. The uncertainty has left the market in the hands of traders, who look for opportunities for quick returns, while investors, who are in the market for the long haul, watch from the sidelines. The S& P 500 flirted with going negative for the year shortly before posting its best week since December. The benchmark index is less than 0.1 percent above where it was two months ago. " Traders are happy going in and out of the market within a range, but for the average investor it's a market in which the path is still unclear," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey. On Friday, the S& P 500 closed down 0.55 percent for the week. The index has posted four weeks of gains and four of losses in the last eight. CENTRAL BANKS TO THE RESCUE? Weak U.S. labor market data on Friday raised the chances in favor of the Fed launching a new round of monetary stimulus to boost growth, according to a Reuters poll. The Fed's minutes midweek will be followed Thursday by the Japanese central bank's views on the health of that country's economy after a two-day meeting. " If we do see additional asset purchases from the Bank of Japan that would depreciate the yen and would be a short-term positive for global equities," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin. The recent central bank actions are seen as precautionary moves as the global economy stalls. This week's gross domestic product data out of China will help give the market important clues about the world's second-biggest economy. " Some of the negative news is built in, and I'm anticipating a positive surprise coming out of China," Jacobsen said. Economists expect China to report year-on-year GDP growth of 7.6 percent, compared to an 8.1 percent yearly gain in the first quarter. Other Chinese data include inflation, loan growth, trade balance and retail sales. Europe remains on traders' minds despite a recent agreement that opens the door for troubled banks to receive rescue funds. However, Italian and Spanish borrowing costs have resumed their rise in a bearish sign for markets. Testimony by ECB President Mario Draghi to Europe's parliament on Monday will be followed by a meeting of euro zone finance ministers. EARNINGS, OUTLOOKS ... AND A BIG TRADING LOSS Aluminum company Alcoa reports second-quarter results on Monday. Alcoa surprised Wall Street last quarter with a positive outlook, but the global slowdown could make it harder for the aluminum maker to keep its bullish stance. JPMorgan Chase & Co will also report earnings this week, with investors eager to know how big the bank's losses will be following a botched trade. The initial estimated loss at the bank was $2 billion but later reports indicated it could balloon to more than four times that. " The idea is that analysts have been marking down not only earnings estimates but revenue estimates, and the reason is because of weakness in Europe, which is spilling over to weakness in global operations for many companies," said Brian Gendreau, market strategist with Cetera Financial Group in Gainesville, Florida. The U.S. economic calendar for this week includes import prices and trade, plus producer prices and the preliminary reading on July consumer sentiment from the Thomson Reuters/University of Michigan surveys. (Reporting by Rodrigo Campos Additional reporting by Caroline Valetkevitch Editing by Kenneth Barry) |
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krisluke
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02-Jul-2012 14:16
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SG Market: S’pore shares are set to extend last week’s rally following the strong gains on Wall Street amid some progress on the eurozone debt problems with the STI likely to surge past the 2900 resistance and test the next barrier at around 2920, as represented by the 50-day moving average. The usual high-beta stocks are expected to be in play, icluding the commodity and oil-related stocks after crude saw its biggest gain since 2009,. Among stocks likely in focus, CMA set up a US$1b private-equity fund to invest in China retail property development and tapped CMT CEO Simon Ho for deputy CEO position CMT promoted deputy CEO Wilson Tan to CEO. |
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krisluke
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02-Jul-2012 14:14
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Europe
Europe: positive surprise from the EU Summit, “defying defeatists” according to HSBC. Contrary to gloomy expectations, the EU Summit looks set to deliver a series of steps to ease the Eurozone crisis, fostering a bounce in the EUR and “risk on” currencies. Comments from EU leaders suggest: i) a supervisory body for Eurozone banks will be set up ii) ESM will be able to lend directly to the banks rather than through the sovereign iii) ESM loans to Spanish banks will not have seniority iv) Rescue funds can be used to stabilise bond markets HSBC notes, together, these steps will help break the vicious feed-back loop that has developed between the banking sector and the sovereign. They will also ensure that existing bond holders are not threatened with subordination as a price for banking sector recapitalisations. The supervisory body for banks will justifiably be viewed as a first step towards banking union.
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RodGantt
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23-May-2012 19:13
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Our lives today are in " peril" because of inflation, recession and economic instability in Singapore. Unemployment and high prices of goods have worsen the situation. If you need money, there are loans in Singapore that available to help you. Either personal loan or business loan, you can get the money instantly. They offer cash loans and foreigner loans too. They are licensed moneylenders and legal loan providers. In Singapore today, we are earning low but the prices of goods are high. Even though we work hard, our hard earned money is not enough. That is why there are financial establishments that are always ready to assist and serve you. Do not stop yourself from buying anything you want. Through loans, you can get instant money to fulfil your dreams. But remember that do not get loans for gambling. Be responsible and take out loans for emergencies or immediate financial need. |
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sk6666
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23-Apr-2012 10:47
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EU to reward Myanmar with sanctions suspension LUXEMBOURG — European Union nations are set to reward Myanmar for its " remarkable" reforms by suspending most sanctions Monday, a move opening the way to a potential trade and investment bonanza for Europe. EU foreign ministers meeting in Luxembourg are set to approve a one-year suspension of sanctions against almost 500 individuals and more than 800 firms, but keep an arms embargo in place. The situation in the one-time pariah nation is " looking much better" after the " remarkable progress" culminating in opposition leader Aung San Suu Kyi's election to parliament on April 1, said a senior EU diplomat who asked not to be identified. But a decision to suspend rather than remove restrictive measures aims to " send a signal that we are continuing to watch" , he added. " It is not set in stone that this (reform) trajectory will continue" . In a first sign of discord, Suu Kyi's party announced Sunday it will postpone its parliamentary debut in a dispute over the swearing-in oath. Despite the gathering pace of reforms by Myanmar's military leaders, EU nations were split over doing away with sanctions, the likes of Germany favouring a swift lifting but hawkish former colonial power Britain keen to maintain leverage in a nation still dominated by the army. In an about-face following the April 1 vote, however, British Prime Minister David Cameron and Nobel laureate Suu Kyi urged a suspension of measures dating back to 1996 and reinforced several times since. In all, 491 individuals stand targeted by an EU travel ban and asset freeze, though the bloc last February eased its stand by lifting a visa ban on 87 top Myanmar officials, including President Thein Sein. On the economic front, the EU slapped a ban on doing business in Myanmar, barring investment and banning imports of the country's lucrative timber, metals and gems. As businessmen queue up to return, EU foreign policy chief Catherine Ashton this week said she would travel to Myanmar on April 28-30 and had invited the southeast Asian state's foreign minister to Brussels. " I do hope that what we are now seeing is an opportunity for this country to go forward," she said. " We will now enter into an active collaboration with Myanmar, to assist the reform process and to contribute to economic, political and social development." President Thein Sein has surprised observers with a series of reforms since taking office last year, including accepting Suu Kyi and her party back into the mainstream and freeing hundreds of political prisoners. Western sanctions remained largely intact however as the international community balanced fears over the sustainability of the changes and a desire to bolster regime reformers who may face pressure from those wary of change. |
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krisluke
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18-Apr-2012 23:56
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Exxon, Rosneft unveil $500 bln offshore venture
* Arctic hydrocarbons reserves estimated at 85 bln barrels
* Black Sea block estimated to hold 9 bln barrels of oil * Rosneft joins North American projects * Partners to study 'tight' oil reserves in Siberia (Wraps stories, adds quotes) MOSCOW, April 18 (Reuters) - U.S. oil major ExxonMobil and Russia's Rosneft unveiled an offshore exploration partnership on Wednesday that could invest upward of $500 billion in developing Russia's vast energy reserves in the Arctic and Black seas. Under the deal, signed in Moscow on Monday after nearly a year of talks, the partners will seek to develop three fields in the Arctic with recoverable hydrocarbon reserves estimated at 85 billion barrels in oil-equivalent terms. A final investment decision on the project in the Kara Sea, north of Russia, is expected in 2016-17, the companies said in a presentation to analysts in New York hosted by Exxon CEO Rex Tillerson and Rosneft President Eduard Khudainatov. Survey work on 20 'promising structures' in the Tuapse block of the Black Sea has found estimated recoverable reserves of 9 billion barrels of oil. Tillerson said that Russia's commitment to reforming offshore energy taxation by abolishing export duty and slashing mineral extraction tax, and keep taxation stable for 15 years, had been crucial to unlocking the deal. " There is a clear commitment to see these areas developed," he said in webcast remarks. Also in attendance was Russian Deputy Prime Minister Igor Sechin, who hailed the partnership, which was achieved despite the historic mistrust that often prevails between Washington and Moscow. " The development of Russo-American economic relations has been strongly affected by excessive politicisation and historic stereotypes," Sechin told the presentation. " This often prevents us from exploiting opportunities and focusing on concrete economic projects." Under the deal Rosneft will also get 30 percent minority stakes in Exxon-led projects to develop hard-to-recover reserves in Texas, the Canadian province of Alberta and the U.S. Gulf of Mexico. The partners will also study developing so-called 'tight' oil reserves in Rosneft's main oil producing base in Western Siberia. Rosneft, Russia's top oil producer, will increase hydrocarbon output by 4 percent per year to 3.7 million barrels per day of oil equivalent in the decade to 2020, Khudainatov said. Khudainatov said that the forecast rise from 2.5 million barrels per day in 2010 assumed an oil price of $90 per barrel in real terms as well as a favourable tax regime. The rise was was underpinned by a rapid rise in gas output. Including associated gas, state-controlled Rosneft expects gas output to rise to 45-55 billion cubic metres in 2020 from 12 bcm in 2010, Khudainatov said. (Reporting by Douglas Busvine, Melissa Akin and Vladimir Soldatkin Editing by Melissa Akin) |
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krisluke
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18-Apr-2012 23:55
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Wall St eases on IBM, Intel Chesapeake slumps
The New York Stock Exchange seen with a Wall street sign in front
* Two stocks fall for every rising share on NYSE * 22 S& P 500 companies due to report earnings Wed * Indexes off: Dow, S& P both 0.5 pct, Nasdaq 0.6 pct (Updates to late morning) By Edward Krudy NEW YORK, April 18 (Reuters) - U.S. stocks were lower on Wednesday after uninspiring earnings from IBM and Intel, while Chesapeake Energy slumped after a Reuters report highlighted large and unusual personal loans taken by its chief executive. International Business Machines Corp and Intel Corp were the biggest drags on the Dow. IBM missed its revenue forecast, while investors said Intel's results failed to make a " bull case" for the stock. The lackluster reports from the two technology heavyweights came at the start of what has been a strong earnings season. The S& P 500 had its best day in a month on Tuesday as Coca-Cola Co led the day's round of solid earnings and as concerns eased over the euro zone debt crisis. Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Nashville, Tennessee, expects the market to continue its back-and-forth, possibly trending lower in the second quarter after strong gains earlier in the year. " A consolidation or correction phase in the second quarter would make the most sense, and probably it would be the most healthy thing for the market," he said. Market breadth was worse than the relatively slight losses suggested in the late morning. On the New York Stock Exchange, two stocks declined for every one that rose. Chesapeake Energy Corp slumped nearly 9 percent to $17.40 after Reuters reported that CEO Aubrey K. McClendon did not disclose loans of as much as $1.1 billion over the last three years against his stake in thousands of company oil and natural gas wells. Chesapeake was the most actively traded stock on the NYSE, outstripping even Bank of America with its massive share float. " I think where there is smoke, there may be fire, and investors are still in a shoot-first mentality," said David Lutz, a trader a Stifel Nicolaus in Baltimore. The Dow Jones industrial average dropped 71.18 points, or 0.54 percent, at 13,044.36. The Standard & Poor's 500 Index was down 6.80 points, or 0.49 percent, at 1,383.98. The Nasdaq Composite Index was off 17.60 points, or 0.58 percent, at 3,025.22. IBM lost 2.5 percent to $202.32 and Intel fell 1.7 percent to $27.98. The PHLX semiconductor index declined 1.2 percent. According to Thomson Reuters data, 22 companies in the S& P 500 were expected to report on Wednesday, including American Express Co, Qualcomm Inc and eBay Inc after the close. Of the 56 S& P 500 companies reporting through Wednesday morning, 79 percent beat Wall Street estimates. " Investors should not overreact to positive news nor should they be overreacting to really what could be viewed as isolated earnings reports. One report does not make a trend, unfortunately," said Tim Speiss, a partner at Eisner Amper in New York. Yahoo Inc gained 3.1 percent to $15.47 after quarterly revenues rose in the first quarterly sales growth in three years, as the new CEO outlined plans to revamp the struggling Internet media company. Halliburton Co advanced 4.2 percent to $34.02 after the world's No. 2 oilfield services company said North American revenue reached a record high. The PHLX oil service sector gained 1.1 percent. SXC Health Solutions Corp will buy pharmacy benefit manager Catalyst Health Solutions Inc for about $4.4 billion. Catalyst jumped 31.2 percent to $83.43 and U.S.-listed shares of SXC Health climbed 8 percent to $86.74. Genworth Financial Inc slid 22 percent to $6 and was the worst S& P 500 performer after the life and mortgage insurer pushed back the initial public offering of an Australian unit. Berkshire Hathaway Inc's Warren Buffett said he has stage 1 prostate cancer that " is not remotely life-threatening or even debilitating in any meaningful way." Berkshire Class B shares lost 1.2 percent to $79.78. (Reporting By Edward Krudy editing by Jeffrey Benkoe) |
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krisluke
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12-Apr-2012 21:49
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Inside The Terrifying World Of North Korea's Secret Gulag Officially, North Korea denies it operates a secret work camp system, where those suspected of " wrong thought" are half-starved and worked to near death, usually for their entire lives. However, reports have been trickling out for years that suggest this is a lie. Last month a fascinating account of the camps was documented in the book, " Escape From Camp 14" . Shin In Geun, the man behind that account, escaped the country, making an arduous journey to a South Korean embassy where he can apply for citizenship. However, Shin wasn't alone. The Committee for Human Rights in North Korea has compiled the accounts of 60 escapees, of which there were 23,000 in South Korea by 2011. An estimated 150,000 to 200,000 are thought to be kept in political prisons, known as Kwan-li-so.These prisons mostly exist in the north and north central mountains of North Korea. The country denies their existence.The inmates are accused of " wrong-doing, wrong-thinking, wrong-knowledge,wrong-association, or wrong-class-background." They are imprisoned without trial.Up to three generations of their family may also be imprisoned. This is a result of the concept of “guilt by association” (yeon-jwa-je), a revival of a feudal concept from the Chosun dynasty.There are often children in the camps. Some, like Shin In Geun, were born in the camp.Inside they are forced to work in mines, farms, and factories. They have only " one day of rest per month and on the three national holidays such as New Year’s Day, and Kim Il-sung’s and Kim Jong-il’s birthdays."Most of the prisoners are held for the entire of their life. Evidence from escapees suggests an " extraordinarily high rate of deaths in detention" .Torture is routine. Those who attempt to escape are executed, usually by firing squad. Other prisoners are made to watch.The camps operate on a deliberate policy of semi-starvation. Prisoners are driven to eat " plants, grass, bark, rats, snakes, the food-stuffs of the labor camp farm animals."400,000 people are thought to have died in the camps.The country also has more traditional prisons, known as kyo-hwa-s. The name literally means “a place to make a good person through education.”While most people in these camps face trial, many do not.Those inside these camps have usually committed some kind of non-political crime. This definition is stretched, however. One man interviewed was arrested for singing a South Korean song.Like political prisoners, those in these camps are poorly treated
From the reports:
Former Prisoner # 37 was given boiled corn husks, corn powder gruel and some soybeans in a dirty plastic bowl. Guards cut the handle of spoons so that prisoners could not use them to commit suicide. Prisoners secretly drank unsanitary water from the toilet when they were not provided with drinking water.
The final system of prisons deals with North Korean citizens caught attempting to flee into China. They are known as ku-ryu-jang.Many North Koreans cross over the border into the Manchurian region of China
Some do it to escape economic or political hardship, but there is also a thriving, semi-condoned system of black market trade between the regions.
Some North Korean women are lured or caught by traffickers and forced into prostitution or sold as brides — a big prize in China due to the country's gender imbalance. (Source) If caught, women suffer especially harshly.
From the report:
In recent years, young women have comprised substantial portion of repatriated persons. Their testimonies report sexual humiliation, trafficking and violence, and the unconscionable abuse of racially motivated forced abortion and infanticide.
Prisoners are essential to keeping the system alive Kim Jong-un |
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krisluke
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12-Apr-2012 21:42
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Jaw-Dropping Photos Of Singapore's Skyscraper Infinity Pool After a long delay, Sheldon Adelson's Sands Cotai Central report opened today in Macau. The casino-resort complex cost a whopping $4.4 billion to build.
The place looks pretty remarkable. But the architecture doesn't hold a candle to Adelson's Marina Bay Sands resort in Singapore, which cost a reported $5.4 billion to construct and opened in 2010. At the time it, was the world's most expensive standalone resort. The best part of the Marina Bay Sands, which resembles a cruise ship perched atop three skyscrapers, is the SkyPark, an insane rooftop pleasure dome with a 150-meter infinity pool. Enjoy the view from 55 stories up. Flickr User Richard Cawood (www.flickr.com Imagine this as your regular morning swim. Reuters Looks dangerous, right? Flickr User Richard Cawood (www.flickr.com It's the swankiest pool in the world. green_kermit on flickr And a great spot for a photoshoot. Here's what the place looked like when it was under construction. There were several delays. madaboutasia on flickr The SkyPark is the world's largest cantilevered platform. It looks like a cruise ship perched on a skyscraper. Flickr User Shiny Things (www.flickr.com The hotel itself has more than 2,500 rooms and an art/science museum. We can't believe this deck is 650 feet above the ground, either. www.marinabaysands.com It even looks fun in the rain.The SkyPark has become a major tourist destination.At night, it's a party.The view of Singapore is breathtaking. www.marinabaysands.com Here's the inside view. Don't book a room if you have a fear of heights. Flickr User ronnieliew (www.flickr.com Although once you get upstairs, it looks pretty serene. www.marinabaysands.com Think that's impressive? |
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krisluke
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12-Apr-2012 21:37
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Upcoming IPO: Switzerland-headquartered Mediterranean Shipping Company (MSC) is considering a Singapore listing for its global ports business, which could take the form of a corporate IPO or a business trust. Deal size is estimated at ~$1b, but the transaction is at an early stage. MSC is primarily a shipping company, but also owns and manages several ports. BNP Paribas, CLSA and Deutsche have been mandated to manage the deal. If successful, the MSC port listing will join HPH Trust as a listed Spore peer. It may also spur NOL to consider monetising its port assets. Back in 2010, Morgan Stanley estimated NOL's seven 100% owned terminals to be valued at US$860m. However, thus far NOL mgt has not given indication of possibility of divesting its terminal assets. |
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krisluke
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12-Apr-2012 21:33
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Bishan's Sky Habitat condo by CapitaLand looks like it could have sky high prices as well  The moment you've all been waiting for draws ever closer. This Moshe Safdie designed condo developed by CapitaLand has been making big waves ever since the plans were announced. Sky Habitat it is called and no wonder, it soars way way up into the Bishan sky. This condo is an icon in the making, no doubt about that. Let's take another look at this 99-year leasehold condo right beside Bishan MRT.
History Lesson  14 months ago, back in February 2011, CapitaLand and Mitsubishi Estate Asia fought off 18 other bids to win this hotly contest site. They paid a whopping $550.1m and beat the second placed bidder by a crazy $118m. They probably had grand plans for this site with that kind of bid. By hiring Marina Bay Sands' architect Moshe Safdie to design this condo, it's safe to say the developers were aiming big. Developer: CapitaLand and Mitsubishi Estate Asia District: 20 Tenure: 99-year leasehold Site Area: 129,135 sqft (approximate) Units: 509 Storeys: 38 Blocks: 2 (linked by sky bridges) Expected TOP: 2015 Notable Facilities  The usual suspects here - 50m lap pool, gym, a tennis court, etc. What's notable here are the three unique Sky Bridges which link the two blocks together. An architectural icon  The architecture looks terrific too. This is not your regular mass market condo. This is a Moshe Safdie. Think about it, one day a book will be published featuring iconic architecture and your home will be in it! You can't beat that (unless you are living in Reflections by Keppel by Daniel Liebeskind or The Interlace by Rem Koolhaas/OMA. D'Leedon doesn't count, we don't think that does Zaha Hadid any justice.) Unit Mix and Sizes (approximate) 1BR PES (969 sqft) x 1 1BR (635 - 710 sqft) x 65 2BR PES (1,055 sqft) x 1 2BR (721 - 893 sqft) x 47 2BR Terrace (1,076 - 1,324 sqft) x 20 2+1BR PES (1,206 - 1,485 sqft) x 4 2+1BR (850 - 1,055 sqft) x 44 2+1BR Terrace (1,173 - 1,453 sqft) x 33 3BR PES (1,528 - 1,776 sqft) x 6 3BR (1,216 - 1,249 sqft) x 152 3BR Terrace (1,399 - 1,862 sqft) x 60 4BR PES (2,217 - 2,250 sqft) x 2 4BR (1,539 - 1,776 sqft) x 47 4BR Terrace (1,787 - 2,143 sqft) x 19 Penthouse (2,562 - 3,638 sqft) x 8 Location  Image: Onemap.sg It's in the heart of Bishan. Need we say more? If you're not from Singapore, let us tell you more about this popular suburb. Firstly, it's only four stops away from Orchard MRT or about 15 minutes from the heart of Singapore's shopping district. It's also a key transport node - Bishan MRT connects the North-South Line and the Circle Line. There's also a bus interchange as well. Secondly, the town centre is so well established with a cineplex-mall (Junction 8), library, supermarkets, shops, clinics and plenty of eateries. Bishan also has its own stadium and swimming complex. Thirdly, it's got many schools - Catholic High, Raffles Institution, ITE Bishan, MOE Language Centre, Kuo Chuan Presbyterian Primary and Secondary Schools and so on. The best part is that all we've mentioned above are within walking distance from Sky Habitat. How do you beat that for location? The only minor problem we see is the traffic congestion during rush hour. Bishan Road is usually clogged with cars in the evening. Driving to the CBD via the CTE is a bit of a hassle as traffic gets very heavy along Braddell Road too. Prices  This is where it gets a bit scary. Based on the winning bid of $550.1m, the cost price for each unit works out to about $869 psf ppr. Yes, your eyes do not deceive you - $869 psf ppr. Back then we predicted selling prices of $1,300 to $1,400 psf. That was before we knew it was a Moshe Safdie condo. Rumours abound of a potential selling price of $1,600-$1,800psf! If that's true, it makes Sky Habitat Before you rush in with your cheque, do note that around Sky Habitat is undeveloped land. According to the URA Masterplan, land there is still 'subject to detailed planning' and is coloured beige - meaning zoned for Residential use. So there could be other developments launched nearby at a lower price that Sky Habitat in the future. The closest condo we can compare is Bishan 8, which is just opposite Junction 8 and Bishan MRT. According to URA data, two units were sold at this 12-year old condo for a median price of $1,146psf. If you are looking for units in the $1,600 psf price range, here's some we can think of:
Launch date  Apparently, the preview opens this weekend on 14 March 2012, this Saturday. But we think some VVVVIP folks have already booked their units of choice. Some agents have made a name for themselves setting up illegal tents around the development and pushing brochures in the faces of passers-by. We think this Sky Habitat will gain a lot of attention, whether it gains a lot of buyers really depends on the final selling price, which will only be revealed during launch. More beautiful artists' impressions  The balconies are skewed either left or right which is unique. Though finding furniture to fit could be a challenge.  This is one crazy swimming pool. Reminds us of a certain Integrated Resort in Marina Bay.  That looks like a Terrace unit - it has a large balcony and really high ceilings! HDB releases 4,153 BTO flats and 3,825 Balance Flats all over Singapore  One of the most highly anticipated HDB launches have come! BTOs in mature estates are a rarity these days, and now we have three BTOs in Clementi, MacPherson and Bedok. Along with those three BTOs are two in Bukit Batok and Bukit Panjang, and two Studio Apartment BTOs in Toa Payoh and Toh Yi. Added into that potent mix are 3,825 balance flats in choice estates like Ang Mo Kio, Bukit Merah and Bishan. We first take a quick look at the Build-to-Order flats first!
Ping Yi Greens (see pic above) This BTO along Chai Chee Street houses six 15-storey blocks with a total of 418 units in 2 to 4-room standard flats. Located in Bedok, one of the most mature and established estates in Singapore, we're sure this will be a hit with many HDB hunters. If you're thinking these blocks look rather familiar, you're right. Ping Yi Greens were offered as a replacement for SERS blocks along East Coast Road, with the leftover units going for sale as BTOs or SOBFs. However, due to feedback from the SERS-affected residents (basically they didn't like the idea of moving from East Coast all the way to Bedok), Ping Yi Greens is now offered as a BTO to all Singaporeans, with the SERS-folks having first priority (but they can also choose from other BTOs launched). Location-wise, it's not too bad. Residents are about 500m away from Bedok MRT and the town centre (which will be even more bustling in the years to come thanks to the new Bedok Mall). There are plenty of schools, eateries and neighbourhood centres nearby and access to town is pretty quick via the PIE. Sadly only 418 units are available, of these there are only 236 4-room units. Those start from $400k to $464k. Expensive yes, but we're talking about a flat in Bedok. Seasoned hunters will tell you this is a steal. Expect some tough competition folks. MacPherson Residency  Don't be put off by the whole Geylang town thing. This BTO is nowhere near the notoriously seedy Lorongs. When your friends ask, you can tell them you live in MacPherson or Paya Lebar. Comprising of 211 3-room Standard flats and 426 4-room Standard flats in six 19-storey blocks. Located about 400m away from MacPherson MRT, this BTO along Paya Lebar Road is not exactly in what you can call a mature estate. The estate might be old but of late the only new developments popping up around the area are industrial buildings. So if you're looking for schools, eateries, supermarkets and all the usual bells and whistles of established estates, you will be disappointed. That's not to say there aren't any, but MacPherson pales in comparison to estates like Bedok or Toa Payoh. Still, there is plenty of potential for this area, and it's much closer to the CBD too. It is pretty well connected too, with KPE and PIE easily accessible. And once the Downtown line is complete, residents here will find they have three MRT lines to get to the CBD (as long as the trains don't break down). Prices for the 4-rooms start from $417k. Clementi Ridges  All we've got to say is those Trivelis folks who bought their DBSS flats must be feeling slightly peeved right now. This BTO right NEXT to Trivelis DBSS in Clementi has a total of 684 Standard units in 3 block either 37 or 40-storeys high. What can we say about this place? It's in Clementi. It's walking distance to the Clementi Mall and MRT. Win already! There are plenty of units here too - 312 4-roomers and 216 5-roomers - but we Trivelis, the recently launched DBSS, was selling 4-room units from $530k to $650k. Clementi Ridges is selling from $438k onwards. About $100k difference. What's more, the Trivelis is MUCH smaller - 82sqm compared to 93sqm. No wonder DBSS is going the way of the dinosaur. Clementi Ridges is a gem folks. Not just any gem - a top of the line diamond. Good luck ladies and gentlemen - getting a unit here is akin to striking TOTO and 4D at once! Skyline I and Skyline II at Bukit Batok  Apparently someone at HDB has a penchant for highly-tuned Japanese supercars. Otherwise how does one explain two Skylines in Bukit Batok? The only Premium BTO offering in this line-up, there are a whopping total of 1,232 flats to choose from in five blocks ranging from 23 to 38 floors high. Located at the south end of Bukit Batok, this BTO is huge, spanning 300m. Sadly it faces the busy PIE to the south and it has the elevated train tracks cutting the development in half. Not very appealing at all. Do note some units here have balconies. Still, this BTO straddles two big estates - Jurong East and Bukit Panjang, both up and coming towns. Especially Jurong East with the whole Jurong Gateway big masterplan URA has cooked up. This area isn't exactly new too, it's been around for a good 10-15 years and is on its way to the 'mature' estate class. These two estates have their fair share of schools, shops, hyper-malls, eateries and so on. Fajar Hills  This BTO comprises 862 Standard units in 7 blocks ranging from 14 to 19 floors. Fajar Hills sits along Fajar Road in Bukit Panjang and should be one of the last BTOs in Bt Panjang that is not located on the fringes of the estate (like the Segar BTOs). Fajar Hills is about 600m away from the town centre and the upcoming Bukit Panjang MRT. Bukit Panjang is not the most favourite estate among HDB hunters and things are made worse with an elevated LRT line to the north of the development. It's not the most exciting BTO for sure. Golden Kismis (Toh Yi) and Golden Clover (Toa Payoh)  Wah! BTO in Toa Payoh! Don't get too excited folks. Only if you are 55 years and above. These are for the golden generation of Singaporeans. Only studio apartments (SA) are available here. That said, these aren't the best located SA BTOs we've seen. Usually they are close to neighbourhood centres and wet markets. These two are nowhere near any of those. We'll have more in-depth coverage as always coming your way in the days to come. You have until 3 April 2012 to place your bets so do your research carefully. We're trying to look for choice Sale of Balance Flats too (once HDB's portal stops crashing) so stay tuned for that too. |
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krisluke
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12-Apr-2012 21:27
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Land capacity in Singapore to increaseSingapore will continue to augment its land capacity through reclamation, building higher, and going underground. Still, land allocations for industrial, commercial and residential use will likely remain the same over the next decade. Currently, one third is used for industry, commerce and housing. The remaining two thirds are used for roads, sea port, airport, reservoirs, utilities, military training grounds as well as social and community facilities like parks, hospitals and schools. The National Development Minister Khaw Boon Wan gave the projections in a written reply to Marine Parade GRC MP Associate Professor Fatimah Lateef, who asked how land utilisation will be like, and whether a land shortage is likely over the next decade. With Singapore land limited at 710 square kilometres, Mr Khaw said his ministry will also pursue efforts to recycle and optimise land to make the best use of this limited resource. Undeveloped lands at Tengah and Bidadari will be opened up for residential needs while the use of existing land within mature house and industrial estates will be intensified. But Mr Khaw gave the assurance that Singapore will remain highly liveable and a great place to raise families. Upcoming discussions on the National White Paper will help sharpen the focus on future infrastructure planning and its execution. |
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krisluke
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12-Apr-2012 21:26
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Developers in a rush to launch new projects Developers are rushing to launch new projects to take advantage of the strong demand seen in the primary home sales market, according to a report by The Business Times. “Developers know this trend cannot be sustained, especially when you have HDB launching (so many units),” said Ku Swee Yong, Chief Executive of International Property Advisor (IPA). In March alone, a slew of developments were released, including the 193-unit Natura at Hillview Terrace, 429-unit Palm Isles condo at Flora Drive, 679-unit Ripple Bay condo (pictured) and 276-unit Seletar Park Residence. Market watchers argue that the large number of new homes entering the market this year may be due to the government’s efforts to release more land for residential development. Last year, the government released enough land for a total of 17,510 new homes, a significant increase from 2010’s 13,945 homes. Moreover, the number may still grow, considering the recent trend of building smaller flats. “Developers are now trying to reduce their risks by shortening the cycle between the day they win the bid and the day they launch the property to sell,” added Ku. He also noted that turnaround time is now between nine to 12 months, compared to the previous 12 to 18 months. Although shoebox units have become popular recently, potential problems could still come up. Tenants might be hard to come by when such units are released, said market watchers. |
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