December 19, 2008 Friday
Updated

WASHINGTON - THE US government agreed on Friday to an emergency loan of US$13.4 billion (S$19.5 billion) to ailing automakers to stave off collapse of the sector that could deal a crippling blow to the economy.

General Motors and Chrysler were expected to draw on the funds immediately to avert bankruptcy, and will be required to implement new belt-tightening moves and demonstrate their long-term viability.

 
Abhisit vows to clean mess

BANGKOK - THAILAND'S new prime minister picked up a broom and posed for cameras on Friday on the steps of Government House, vowing to quickly clean the mess from a three-month sit-in and show the country is 'back to normal'.

About 100 painters, cleaners and maintenance workers accompanied Abhisit Vejjajiva on his first trip to the prime minister's office compound. It was left in shambles by protesters who barricaded the building Aug 26 and then took over Bangkok's two airports in an eight-day siege ending Dec 3 to demand the departure of allies of deposed ex-premier Thaksin Shinawatra.

On's sentencing delayed

HONG KONG - THE wife of former National Kidney Foundation chairman Richard Yong who pleaded guilty to money laundering nearly two weeks ago will have to wait till Monday for her sentence.

The District Court judge hearing the case on Friday postponed his decision on On Shu Kio's sentence, saying he needs more time to think about the case.

10,000 homes on DPS

SINGAPORE said on Friday there were 10,450 uncompleted private homes purchased under the country's deferred payment scheme, revealing for the first time the potential number of homes that may be returned to developers.

About 4,560 of these homes are scheduled for completion next year while another 2,540 will be ready in 2010, the Urban Redevelopment Authority (URA) said in a statement.

Enjoying a strong yen

TOKYO - SUPERMARKETS are having 'strong yen sales' on imported food. Travel agencies are offering discounted trips abroad. Housewives are dumping cash into foreign currencies as an investment.

The yen's recent surge against major currencies - including to a 13-year high against the dollar - is battering Japan's vital exporters, but consumers here are enjoying some of the benefits that come with a strong currency, snapping up bargain deals on everything from French wine to designer handbags.

   
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