SINGAPORE'S state-owned investment vehicle Temasek Holdings sold all its Bank of America (BoA) shares in the first three months of this year, resulting in estimated losses of between US$2.3 billion (S$3.4 billion) and US$4.6 billion.

Analysts and fund managers said the move was in line with Temasek's tweaking of its long-term investment strategy to focus more on Asia and emerging markets such as Brazil and Russia. It will, in turn, reduce emphasis on developed countries such as the United States and Europe.

BIG-TICKET items are still hard to sell, but new figures from the retail front line show that consumers are regaining confidence and hitting the malls again.

Retail sales - excluding motor vehicles - rose 3.3 per cent in March over February. Not exactly a boom, but a stark improvement from February, when sales dropped 23.4 per cent from January.

AN AFTERNOON downpour could not put out the fiery spectacle at the Marina Barrage on Friday night that kicked off the month-long Singapore Arts Festival.

Some 5,000 people turned up to watch the free show, Helios II, by French group La Compagnie Malabar.

THE newest 'local international' school here has seen enrolment boom since it first began accepting students two years ago.

In fact, St Joseph's Institution (International) now has about 40 expatriate children on the waiting list for its primary section, which has filled all its 320 places for the new academic year beginning in August, said principal Andrew Bennett at the school's official opening on Friday.