ZURICH - UBS is likely to need a fresh capital injection from the state after the Swiss bank's shares lost nearly 50 per cent this month, a top Swiss bank regulator told SonntagsZeitung newspaper on Sunday.

Mr Daniel Zuberbuehler, Director of the Swiss Federal Banking Commission, said a takeover of UBS was not likely despite the fall in shares and ruled out a merger with domestic peer Credit Suisse.

THE economy will get worse before it gets better, said Community Development, Youth and Sports Minister Vivian Balakrishnan, and yesterday, he pledged that more help will be given to those who need it.

The government is also working on being quicker to respond to applications for social assistance, as well as to look at being more flexible in helping 'sandwiched' families, he added.

LIMA (Peru) - PACIFIC Rim nations struggled on Sunday to restore confidence in the world's ailing financial system, wrapping up a summit that focused on guarding against protectionism and resuscitating moribund free-trade talks.

RETRENCHMENTS in the electronics sector are expected to total 1,000 in the last three months of the year, NTUC deputy secretary general Halimah Yacob disclosed yesterday.

But their bosses have been largely exemplary in giving the labour movement lots of notice about the layoffs, she said, without identifying the companies.