What's News: April 15, 2016

TOP OF THE NEWS

MAS stops Singdollar rise

The Monetary Authority of Singapore's (MAS) decision to halt the appreciation of the Singdollar has underscored the bleak outlook for the local economy. The move came as flash estimates from the Ministry of Trade and Industry showed the economy expanded 1.8 per cent in the first quarter year-on-year. But growth was zero on a quarter-on-quarter basis.

TOP OF THE NEWS

US-Philippine joint patrols

The United States has begun joint patrols with the Philippines in the South China Sea, the first taking place last month, and the second, early this month. Such joint patrols are somewhat rare, but they nevertheless take place against a backdrop of growing tension over China's territorial claims and reclamation in the disputed sea.


PHOTO: AGENCE FRANCE-PRESSE

WORLD

Jakarta may halt concessions

Indonesian President Joko Widodo plans to push through a moratorium on new concessions for oil palm plantations and land for mining activities. This would mean palm oil and mining firms can no longer expand their operations in Indonesia. Mr Joko said yields from existing palm oil concessions could be doubled with better seeds.

WORLD

Polls setback for Park

The Saenuri Party's defeat in Wednesday's election has dealt a devastating blow to South Korean President Park Geun Hye. The opposition Minjoo Party won 123 seats in the 300-seat National Assembly, narrowly edging out the ruling party's 122 seats, according to final results from the National Election Commission.

OPINION

The transformation of Asia

In 40 years, Asia - particularly South-east Asia - has been transformed. Vietnam then was really the name for a war, not the investment-rich nation it is today. Burma was closed to the world, not the Myanmar we know now. Across wider Asia, massive changes have come, says Ravi Velloor.

HOME

Sex abuse victim speaks out

A teen who was sexually abused by a neighbour, who she thought was a man but later found to be a woman, said she still has nightmares. Now 18, the teen was 13 when she first got to know Zunika Ahmad, 39, who was acquitted of sexual penetration of a minor after a judge ruled that only a man could be charged with such a crime.

HOME

Art Heritage faces more suits

Art Heritage Singapore, the firm behind the private Singapore Pinacotheque de Paris museum which closed on Monday, faces more legal troubles. Two more lawsuits have been filed against it, bringing the number of lawsuits to four so far and the total amount claimed to nearly $900,000.

BUSINESS

Capitol Singapore deadlock

The future ownership of Capitol Singapore hangs in the balance, with the two main shareholders as well as the management locked in dispute over the project. One of the owners, Perennial Real Estate Holdings, is bringing matters to a head by filing applications for three of its associated companies - which together own Capitol Singapore - to be wound up.


Bryant, playing the last professional game of his career, driving past Gordon Hayward of the Utah Jazz. PHOTO: AGENCE FRANCE-PRESSE

SPORT

Kobe Bryant goes out blazing

On the same day that the Golden State Warriors set an NBA record of 73 victories in a regular season, overtaking the Chicago Bulls' tally, came another basketball landmark. Kobe Bryant, playing the last professional game of his career with the Los Angeles Lakers, had an unprecedented 60-point game in a 101-96 victory against Utah Jazz.


Geldof said in his keynote speech at the Invest Asean 2016 conference that the world needs different economic models of growth where the focus is not on just ''more of everything'', which he sees as a euphemism for greed. BT FILE PHOTO

LIFE

Bob Geldof to economists: Nothing discussed works

Irish music veteran Bob Geldof, who was behind the groundbreaking Live Aid (1985) and Live 8 ( 2005) charity concerts, had a blunt message for economists he was speaking to yesterdayhere. In a keynote speech at the Invest Asean 2016 conference, he said nothing talked about in the meeting works, because we live in a world of surplus and yet people die of want.

A version of this article appeared in the print edition of The Straits Times on April 15, 2016, with the headline 'What's News: April 15, 2016'. Print Edition | Subscribe