The Straits Times

May 11, 2009 Monday

Updated

Straits Times Headlines

S'porean, Malaysian security officials to discuss terror threat

Flu alert lowered to yellow

Inside

Winning new audiences for arts

View Points

Singaporeans abroad enrich nation's fabric

7.59

Wife relieved to learn Mas Selamat safe

Could he have attacked Singapore?

Experts warn of 'hidden militants'

Two new flu deaths in Americas; infections in 31 countries

Plug in and fill up

Countries and car makers gearing for change

Electric City

Breaking News

Won't give in to N.Korea

Safer recycling of ships

Police make fake scam arrests

Asia to spend $87b on navy

Chen refused bail

Nepal tries to form new govt

'Will is questionable'

Masks for crew on US flights

Support for Aso up: poll

Opposition chief quits

700 killed in Pakistan offensive **

Deficit to hit $2.7 trillion

WASHINGTON - THE White House on Monday pushed up its forecast for the US budget deficit for this year by US$89 billion (S$129.8 billion), reflecting the recession, a raft of new unemployment claims and corporate bailouts.

A fresh estimate of the deficit showed it coming in at US$1.84 trillion - representing a massive 12.9 per cent of gross domestic product - in the current 2009 fiscal year that ends on Sept 30. A prior White House forecast released in February projected a deficit of US$1.75 trillion, or 12.3 per cent of GDP.

Global economy to turn

PARIS - GRIM data revealed the depths of distress in European industry on Monday but economists seized on strengthening signs of upturn in the months ahead.

France and Italy reported a big slump in industrial output in March, but central bankers from the G-10 grouping of big economies meeting in Switzerland said the global economy was near a turning point.

US reporter freed

TEHRAN - US-BORN reporter Roxana Saberi walked free from a Tehran jail on Monday after an Iranian court reduced her prison term for spying to a two-year suspended sentence.

'I'm okay. I don't want to make any comments but I am OK,' Ms Saberi told AFP minutes after leaving the notorious Evin prison and being driven away by her father.

NTUC to expand, hire

THE labour movement's 12 social enterprises are going on the 'offensive' during the downturn - by expanding operations and hiring more local workers.

There are 1,200 jobs on offer, ranging from cashiers to childcare teachers.

Explaining the expansion plans, labour chief Lim Swee Say said on Monday that 'bad times are the best times' to build up capabilities and stay competitive.

$25m grant for polys

THE Government is pumping in up to $25 million to polytechnics, to try to fast-track the translation of research into commercial products.

Over the next five years, the National Research Foundation (NRF) will fund up to $500,000 for each project, where polytechnics help commercialise research from universities and government research institutes.