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Samsung M2 Series External Hard Drive





Coming in up to a 1TB capacity, the super-sized Samsung M2 external drives are practical and portable (though not wireless) and come with USB 3.0 connectivity supported, increasing data transfer rate is increased by up to 10 times that from USB 2.0.

Works best as a fuss-free travel and work companion, purely for storage purpose.


Price: US$79 (500GB)

 

Hitachi LifeStudio Mobile Plus





The LifeStudio Mobile Plus external drive works both as an external hard drive as well as a thumb-drive while you are on the go - you can thank its 4GB auto-sync USB key for that flexibility.

The LifeStudio Mobile Plus automatically finds and organizes your files in one location, and allows easy photo posting to Facebook, Flickr and Picasa. You can also access your files from any computer or smartphone using an Internet browser, or share with others by sending a web link.

The automatic local and online backup provides two levels of protection to your digital content - ensuring that your digital memories don't disappear at the whim of a slipped coffee cup.


Price: US$239 (2TB)

 

U.S. stocks soared Thursday, with the Dow Jones Industrial Average closing with a 400-plus point change for a fourth day, a first for the average. This continues Wall Street’s craziest week since 2008, after a drop in first-time jobless claims calmed nerves about the economy. In an encouraging sign for the U.S. economy, the number of people who applied for unemployment benefits dropped by 7,000 last week to a seasonally adjusted 395,000, the Labor Department said Wednesday.

After rising as much as 558.96 points, the Dow Jones Industrial Average ended up 423.37 points to 11,143.31, or 4% higher. The blue-chip index is now off 2.6% for the week, after four days of closing up or down 400 points or more. The S& P 500 Index gained 51.88 points, or 4.6%, to 1,172.64, with financials leading the rise, which included all 10 of its industry groups. The Nasdaq Composite Index added 111.63 points, or 4.7%, to 2,492.68.

Gold futures settled lower Thursday, snapping a three-day winning streak that took the metal above $1,800 an ounce, after the main metals exchange operator increased the money needed to trade gold futures contracts. Gold for December delivery declined $32.80, or 1.8%, to end at $1,751.50 an ounce on the Comex division of the New York Mercantile Exchange. It traded as low as $1,753.50 an ounce and as high as $1,817.60 an ounce earlier.

Crude-oil futures rallied 3.4% Thursday. Crude for September delivery advanced $2.83 to settle at $85.72 a barrel on the New York Mercantile Exchange, oil’s best finish in nearly a week. Prices rose 4.5% in the previous session after settling earlier this week at their lowest in nearly a year.

France, Italy, Belgium and Spain will impose new bans on short-selling or short positions beginning Friday, the European Securities and Marketing Authority said in a statement late Thursday. The measures come to " restrict the benefits that can be achieved from spreading false rumours" given the recent volatility in European markets in recent weeks, ESMA said.

Several big U.S. banks said Thursday they are carefully watching the situation in Europe, but so far their dealings with France in particular remain " business as usual." In fact, according to filings, some U.S. banks in the first half of the year had actually increased their exposure to France and its banks. The spiralling European debt crisis moved into a new phase recently as France faced a possible downgrade from its triple-A rating, and as rumours swirled about the health of its banks - rumours that were denied by the banks.

US Markets	Index Level	Value Change	% Change	Futures Value	Value Change	% Change
Dow Jones	11,143.30	423.37	+3.95%	11,066.00	-18.00	-0.16%
NASDAQ*	2,492.68	111.63	+4.69%	2,155.75	-2.25	-0.10%
S& P 500	1,172.64	51.88	+4.63%	1,165.90	-2.30	-0.20%

* refers to NASDAQ composite which consists of all stocks in NASDAQ. Futures value only for NASDAQ 100.

EU Markets	Index Level	Value Change	% Change
FTSE 100	5,162.83	155.67	+3.11%
CAC	3,089.66	86.67	+2.89%
DAX	5,797.66	184.24	+3.28%

 

Temasek ‘may sell Chandra Asri stake’

SINGAPORE

Thailand’s Siam Cement and PTT Chemical are among companies that have expressed interest in buying Temasek’s 22.9 per cent holding, said the people, who declined to be identified because the talks are private. The stake is valued at about 2.2 trillion rupiah (S$313 million) based on Chandra Asri’s market capitalisation, data compiled by

Chandra Asri Petrochemical was formed this year through the merger of PT Chandra Asri and PT Tri Polyta Indonesia. Temasek owns shares through its Apleton Investment unit and has held a minority stake in Chandra Asri since 2006.

Jakarta-based PT Barito Pacific owns 71.9 per cent of the stock.

Shares of Chandra Asri have dropped by 24 per cent in the past two months, cutting its market value to 9.4 trillion rupiah.

Ms Serena Khoo, a Temasek spokeswoman, declined to comment on its shareholding in Chandra Asri or on any plans to sell a stake. Officials at Siam Cement and PTT Chemical declined to comment on the talks.

Chandra Asri supplies ethylene to Indonesian chemical companies and overseas buyers. It also manufactures polypropylene resins, which are used in various plastic packaging applications with the products marketed under the brand name Trilene.

— Temasek Holdings, Singapore’s state-owned investment company, is considering selling its stake in Indonesia’s PT Chandra Asri Petrochemical, five people with knowledge of the matter said.Bloomberg show.Bloomberg

 

MP  dOes  nOt  knOw  the  National Anthem Lyrics  ? ? ? ?

Time to have  MP National Anthem Classes  ? ? ? ?

pharoah88      ( Date: 11-Aug-2011 11:47) Posted: By Channel NewsAsia, Updated: 11/08/2011 MP Penny Low apologises for NDP phone incident   Penny Low (PAP) SINGAPORE: Member of Parliament (MP) for Pasir Ris—Punggol Group Representation Constituency Penny Low has offered her apologies after being spotted using her mobile phone during the singing of the National Anthem at the National Day Parade (NDP) on Tuesday. The incident, which was captured on television cameras, showed Ms Low glancing down at the phone in her hand. The video was posted as a 30—second clip on websites such as YouTube, which sparked an online debate among netizens. Posting on her Facebook page on Wednesday, Ms Low, 44, said: " I was so caught up in the wonderful NDP 2011 and felt so proud of being a Singaporean, that I wanted to capture that moment of pride, at the very tail end of the anthem, to share on FB with my residents. If in my enthusiasm I offended anyone, please accept my apologies. NDP is a time to unite not divide. Majulah Singapura." Ms Low was elected to Parliament in 2001. She is the founder and president of Social Innovation Park, a non—profit organisation providing social entrepreneurs with a platform to commercialise their services. Some netizens felt Ms Low’s apology was insufficient. " She gave a bad example for the young generation by doing what she did during NDP," wrote Mr Andrew Andy Lim on Ms Low’s Facebook. But other netizens, such as Ms Jessie Seah, defended the MP. " It’s less than a second in the video. The MP has apologised. Singaporeans, please be more forgiving to your own fellow countrymen." TODAY

 

Marina Bay noise too much for some

Nearly 50 noise complaints lodged so far this year

Neo Chai Chin

chaichin@mediacorp.com.sg

SINGAPORE

The expatriate lawyer moved in last December with her husband and says the construction noise from surrounding sites begins at about 9am daily. Now on maternity leave, Ms Watanabe said the noise carries on until about 9pm at night, weekends included.— She chose to live in the heart of Raffles Place to be near her workplace but Ms Mia Watanabe did not bargain for the pounding of nearby construction that came with her rented three-bedroom apartment at The Sail at Marina Bay.

 

Fix the euro, and you could save the world

Is it any wonder financial markets are in turmoil?

In the United States, Britain and Germany, growth is down.

The euro is nearing the point of collapse.

America’s credit rating has been downgraded.

Chinese inflation is up.

 

Cooling-Off Day online postings: No further action

SINGAPORE — The police will not be taking any further action against politicians Tin Pei Ling and Nicole\ Seah, who had messages posted on their Facebook accounts during Cooling-Off Day — in violation of election advertising rules — after reviewing their cases.

 

In a media release, the SCDF said an aerial appliance, which was used to support firefighters, encountered technical difficulties and could not be used to extend a boom [beyOnd 6 stOrey  ? ? ? ? ] to bring the firefighters closer to the fire. But the SCDF said that, in this case, it did not affect fire-fighting operations as the officers were able to access the fire without the appliance.

Nonetheless, a second aerial appliance was immediately activated to the scene.    [WHERE wAs It  ? ? ? ?]

Officers from the Health Sciences Authority were seen arriving at the scene of the fire at 5.40pm.

The SCDF and police investigations into the fire and the cause of death are ongoing.

Upgraded three months ago, Afro Asia Building is one of the oldest in the area and houses many trading companies.

This is the first time the building has caught fire.

 

MP Penny Low apologises for NDP phone incident

 

C I M B Our chartists read the tea leaves for US stock market

S& P 500 - rebound has been choppy over the past two days, a likely sign that the minor wave iv rebound is in progress. If so, the target for this rebound is 1,197-1,228pts, based on 38.2-50% retracement of wave iii. The wave iv rebound should take 1-2 weeks to complete before one more downleg completes wave v, probably closer to Sep. This will complete the major downleg from the May 11 peak, followed by a more sustainable 2-4 month rebound. A breakdown below 1101pts over the next few days would mean that wave v is already in progress. Long-term wise, we are of the view that the major wave " C" downleg started in May and should continue for 6-12 months, targeting the Mar 09 lows before reaching its bottom. Dow Jones - back below 11,000pts for now. For the DJIA, we are looking for a rebound towards 11,425-11,678pts to complete the wave iv rebound. This is based on 38.2-50% retracement of minor wave iii. In the immediate term, there is a resistance trend line at 11,375pts. A breakdown below 10,604pts over the next few days would mean that the wave iv rebound is already completed and wave v downleg is in progress. Details in today's Alpha Edge.

Technically:

Given the tumbling that the STI has taken, I asked our chartists for STI stocks that they felt they were ready to put a Technical BUY on. Our chartists view is that it’s still too early. Downside outweighs upside at least where " unemotional" charts are concerned. So sorry folks, no Technical BUY calls here, only SELLs for the moment still. Those with plenty of cash and itching to buy may want to ignore the technical calls. Not that all are weekly charts given the volatility of the markets. Golden Agri (GGR SP S$0.625 Technical SELL) - Minor supports at S$0.61/0.565. Could test 50% FR at S$0.485. Starhub (STH SP S$2.70 Technical SELL) - Minor support S$2.50. May test S$2.10-2.20. OCBC (OCBC SP S$9.00 Technical SELL) - Key support at S$8.18. 50% FR at S$7.15. SCI (SCI SP S$4.26 Technical SELL) - Minor support S$4.20/S$4.00. Main support at 50% FR of S$3.75. Jardine Strategic (JS SP US$29.90 Technical SELL) - May fall to US$25.50 and then 38% FR at US$24.20.

 

US Economy: FOMC

Near-zero interest rate until mid-2013...

A specific timeframe commitment on federal funds rate (FFR)… The most significant outcome of the Federal Open Market Committee (FOMC) last night was the pledge by the US Federal Reserve to keep the federal funds rate (FFR) at the record low 0%-0.25% at least until mid-2013. Previously, the Fed only generally committed to keep FFR “exceptionally low for an extended period of time”, which the Fed Chairman Ben Bernanke had once indicated to mean up to the next few FOMC meetings after the last FOMC when such statement was repeated. FFR has been at current level since Dec '08. Click here for full report »

 

sIngApOre 

dO nOt  bAn

fOreIners' 

shOrt  sellIng  ? ? ? ? 

---

WHY  ? ? ? ?

becAUse  Of  GST  ? ? ? ?

pharoah88      ( Date: 10-Aug-2011 13:27) Posted: S Korea’s regulator bans short-selling for 3 months South Korean authorities yesterday banned short-selling of shares for three months in a bid to stem losses on a stock market that has lost 17 per cent or almost US $200 billion (S$243 billion) in value in the past six trading days. The move came as state funds stepped in to try and shore up local share prices and after the Bank of Korea appeared to suggest that interest rate hikes were off the agenda when it meets on Aug 11. South Korea’s Financial Services Commission said short selling, mainly by foreign investors, hit a record high of 432.8 billion won (S$484.3 million) on Aug 3. “Short-selling triggered market instability,” the regulator said in a statement after the stock market closed. The main Seoul stock index finished down 3.6 per cent at 1,801.35 points yesterday, its weakest close since Sept 9 last year after tanking as much as 9.9 per cent. Bank of Korea Governor Kim Choong-soo told Parliament the global market turmoil prompted by the US debt downgrade and Europe’s debt crisis meant that plans for “normalising” or raising interest rates had been put on ice. Reuters

 

Bank of Korea Governor Kim Choong-soo told Parliament the global market turmoil prompted by the US debt downgrade and Europe’s debt crisis meant that plans for “normalising” or raising interest rates had been put on ice.

---

Recent  sEll dOwn  was by  DEBTORS' SYNDICATION

tO  TERMINATE

the  Interest  " NOrmAlisAtiON"   plAn  ? ? ? ? 

whIch  wOUld  mUltIply  debtOrs'  bOrrOwIng cOsts ? ? ? ?

 

OPEC sees for growing world demand for oil

VIENNA

While revising demand growth slightly downward for both years, OPEC’s monthly forecast predicted that the world’s appetite for crude will show an increase of a daily 1.2 million barrels this year over last year and 1.3 million barrels a day next year compared to this year.

With major consumers like the United States and the European Union facing the prospects of a return to recession, any significant growth in demand will come from other regions, said the OPEC.

“Oil demand in the OECD is expected to continue its contraction after a temporary rebound last year,” said the report, referring to the group of the world’s major industrialised countries.

It said an apparent fall in Chinese oil demand in June — the first in eight months — “also confirms a weakening of manufacturing activities worldwide”.

Still, said the report, Chinese demand was expected to show 6.5 per cent growth rate for this year over last year, and “it is forecast that next year’s oil demand growth will take place in the non-OECD, mainly China, India, the Middle East and Latin America”.

For the US, the world’s greatest consumer, demand “will remain the wild card for next year, as it could ... be negatively influenced by the country’s economic turbulence, state policies and retail petroleum product prices”, said the report.

But overall, world oil demand — with its forecast daily demand growth of 1.3 million barrels — is expected to average 89.4 million barrels a day next year. That is a downward revision of only 19,000 barrels a day from last month’s OPEC forecast.

For this year, the report said preliminary figures showed global oil supply at 88.33 million barrels a day for last month — an increase of 800,000 barrels a day over June.

— World demand for oil will grow this year and next despite signs that the tepid international economic recovery is running out steam, the Organization of Petroleum Exporting Countries (OPEC) said yesterday.AP

 

S Korea’s regulator bans short-selling for 3 months

South Korean authorities yesterday banned short-selling of shares for three months in a bid to stem losses on a stock market that has lost 17 per cent or almost US $200 billion (S$243 billion) in value in the past six trading days.

The move came as state funds stepped in to try and shore up local share prices and after the Bank of Korea appeared to suggest that interest rate hikes were off the agenda when it meets on Aug 11.

South Korea’s Financial Services Commission said short selling, mainly by foreign investors, hit a record high of 432.8 billion won (S$484.3 million) on Aug 3.

“Short-selling triggered market instability,” the regulator said in a statement after the stock market closed. The main Seoul stock index finished down 3.6 per cent at 1,801.35 points yesterday, its weakest close since Sept 9 last year after tanking as much as 9.9 per cent.

Bank of Korea Governor Kim Choong-soo told Parliament the global market turmoil prompted by the US debt downgrade and Europe’s debt crisis meant that plans for “normalising” or raising interest rates had been put on ice.

Reuters

 

Indonesia holds key rate to aid growth

JAKARTA

Bank Indonesia maintained its reference rate at 6.75 per cent, it said yesterday. Policy makers increased the key rate in February, the only move this year.

More than US$9 trillion (S$10.94 trillion) has been wiped off stocks worldwide since the start of May as the European debt crisis and a faltering US recovery darken the global economy outlook. Slowing inflation has given the central bank scope to defend Indonesia’s expansion by leaving rates unchanged, which bolsters consumer spending in the fourth-most populous nation.

PT Bank CIMB Niaga economist Andry Asmoro said “inflation pressure remains manageable” as “the fragility in markets is temporary and Indonesia’s outlook still looks promising as growth will continue to accelerate in the third and fourth quarters”.— Indonesia’s central bank left interest rates unchanged for a sixth month, opting to protect growth after a United States credit rating cut and a global stock market rout fuelled concern the world economy will slow.

 

ECB sets price for mounting rescue

ROME

Acting against the advice of Germany’s Bundesbank, the ECB has been drawn into a role in the markets that had been intended for the euro zone governments’ bailout fund, the European Financial Stability Facility (EFSF).

The ECB bond buying operation — which could reach €850 billion (S$1.47 trillion) according to analysts at RBS — has also transferred significant risk to the balance sheet of an organisation that has traditionally stuck to its remit of controlling inflation.

Behind the scenes, moreover, it has begun to dictate — and in reportedly meticulous detail — the policies to be followed in one of Europe’s biggest economies.

Before mounting the intervention that drove down Italian and Spanish borrowing costs on Monday, the ECB had spent some €75 billion buying the debt of Greece, Ireland and Portugal. Under the terms of an agreement struck by euro zone leaders last month, however, the bank’s bond-buying powers are to be assumed by a reformed EFSF.

It had been hoped that the changes could be ratified before contagion threatened Spain or Italy. But with parliaments in recess and European leaders on holiday, the overhaul of the fund is unlikely to be approved much before the end of September.

According to the Italian daily,

The paper said the bank’s demands almost amounted to a new government programme:

“The level of detail in the letter must have astonished even the recipient. There are the measures to be taken there is the timetable according to which they must be implemented. Not even the legislative instruments that the ECB asks the government to use have been left out.”— The European Central Bank’s decision to start buying up Italian and Spanish bonds has controversially extended its operations into detailed demands for economic restructuring, it has emerged.Corriere della Sera, ECB’s president, Mr Jean-Claude Trichet, and his successor-designate, the governor of the Bank of Italy, Mr Mario Draghi, sent a letter to Italy’s Prime Minister Silvio Berlusconi at the end of last week dictating the terms on which the ECB was prepared to buy Italy’s increasingly costly debt.

 

Opposition parties’ message for S’poreans

Continue to speak up, participate in the debate and join an organisation that shares your beliefs so that together, your voices are louder.

National Solidarity Party’s secretary-general Hazel Poa

 

Subsidise trips

for treatment too

Letter from Raymond Anthony Fernando

I refer to the letter “After a fare hike, an inclusive society?” (Aug 3). People with disabilities face huge roadblocks in their lives and a lack of support makes it difficult for them to move on in life.

Family members, who are their backbone, could do with financial support, improved access to services in the community and, above all, they need a break.

Respite care is a priority need for families who are “on duty” 24 hours a day, 365 days a year.

I am disappointed the National Council of Social Service’s taxi subsidies for disabled people only support trips to work or school.

Why not extend subsidies for them to go to hospitals and clinics for their medical treatment or even for recreational needs?

My wife, whose medical appointments have increased from four to eight a month due to her advanced arthritis, worries about our finances because, on average, I spend about $160 per month on taxis. And I do not have a fulltime job.