Delhi gang-rape suspects formally charged

NEW DELHI: Indian police on Thursday formally charged five men with murder, kidnapping and rape following the fatal gang-rape of a young woman that appalled the nation.

"We have filed the charge sheet against the five accused," an investigating police officer told a magistrate hearing the case in the Saket court complex in New Delhi.

The five men, who could face the death penalty if convicted, were not present when the media were allowed into the courtroom. Journalists were initially prevented from listening to proceedings, sparking chaotic scenes outside.

The men face at least seven charges, including murder, kidnapping, rape, robbery and attempting to destroy evidence. The next hearing in the case was set for January 5.

A police charge sheet under Indian law lays out the charges against the accused and details the key evidence against them.

The 23-year-old victim in the gang-rape case, who died at the weekend from her horrific injuries, gave a statement to police immediately after the attack.

Her boyfriend, who was with her at the time and was also attacked, has also given an account.

- AFP/xq

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Tennis: Impressive Azarenka reaches Brisbane International quarter-finals

BRISBANE, Australia: World number one Victoria Azarenka moved into the quarter-finals of the Brisbane International with a hard-fought 6-3, 6-3 win over German Sabine Lisicki on Wednesday.

Azarenka was made to work hard for her win by the hard-hitting Lisicki, who traded punishing ground strokes with the top seed but was let down by a high error rate -- 36 unforced errors compared with only nine from her opponent.

In a match much closer than the score suggests, Lisicki had her chances but was unable to take them.

She had eight break points on Azarenka's serve but was only able to convert three, whereas Azarenka -- who won her maiden WTA title in Brisbane in 2009 -- broke Lisicki six times to seize the advantage.

The German also served poorly, landing only 52 per cent of her first serves and sending down five double faults. But she stayed in the match thanks to the quality of her hitting from the baseline.

"I knew what kind of player she is and I felt like she did improve from maybe the last time we played," Azarenka said.

"I just knew that there is something that I have to deal with. So I was prepared to take some bullets today.

"But I just tried to stay focused on executing my game. I knew she was going to make some, she was going to miss some, so I just had to stay with her and look for my chance."

Azarenka now plays Kazakhstan qualifier Ksenia Pervak in the quarter-finals.

Earlier, Germany's Angelique Kerber, the only player to defeat Serena Williams since the French Open in May, came from behind to beat unheralded Puerto Rican Monica Puig in three sets.

The 24-year-old fourth-seed looked in huge trouble as she trailed 1-4 in the third set but fought back to force a tiebreak.

Puig then led 4-0 in the tiebreak only for Kerber to fight back again and take the match 3-6, 6-4, 7-6 (9/7) in two and a half hours.

She will next take on Russia's Anastasia Pavlyuchenkova in the quarter-finals.

"I was just thinking point by point (when she was down in the third set)," Kerber said.

"I was not thinking 'What's happening?' I was just really on court and just trying to hit the ball, move very well, and just fight for every point.

"It was a surprise how she played. I didn't know her before, but I'm sure that she'll be in the top 50 soon."

Sloane Stephens set up a quarter-final against fellow American Serena Williams when she beat Sweden's Sofia Arvidsson 6-3, 6-4. Ukraine's Lesia Tsurenko, who only came into the tournament when Maria Sharapova pulled out, downed Australia's Jarmila Gajdosova 1-6, 6-1, 6-4.

- AFP/fa

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Surge in demand for pet hotel service during year-end holidays

SINGAPORE: Pet hotels are becoming a hit with owners who want to ensure that their furry friends are in good hands while they are away.

Some hotels said demand went up by about 30 per cent last year, compared with 2011 while occupancy rates are almost always full during the year-end holidays.

From massages to soothe aching joints to customised spa sessions that come with a clay pack wrap of nutrients and minerals, the pets are enjoying a break of their own at pet-wellness centres, such as pet hotel, Petopia, while their owners are away.

Petopia's marketing director Richard Wee said: "They find this place more like a playroom. We have one case of a customer's dog that after they left the hotel and came back for grooming one day, the dog ran all the way back to the playroom to just look for his friends to spend time with during the hotel stay."

Petopia can take in up to 50 animals and rooms are usually booked a few months in advance.

Pet owners fork out between S$75 and S$158 for a night's stay.

"We are looking at three different crowds. The year-end holiday goers, they clear their annual leave. We have families who bring the children overseas during school holidays and a large number of expatriates who return home for the year-end season," said Mr Wee.

Safety and security are the top concerns of owners, along with separation pangs.

Mr Wee said: "We have customers who choose not to go away for many years because they are afraid of not having someone to look after their pets well."

To allay such concerns, the hotel installed webcams in the building for owners to track their pets' movements.

Er Yanshan, a pet owner, said: "It's better than just leaving your pet at home with no one to look after it, so it's a good idea."

What's more alarming is when owners abandon their pets.

The Society for the Prevention of Cruelty to Animals (SPCA) said more than 100 animals were given up at the centre in December 2012 by owners who wanted to go away.

That is twice the number, compared with the other months of the same year.

Mr Lee Yao Huang, who is animal care officer at SPCA, said: "Some of them might decide to give it to SPCA, or they just abandoned it at their HDB area or grass patch near their place.

"We actually give them some help by advising them to put it on our re-homing notice on our SPCA website or they can put up brochures and notices on the vet's clinics or supermarkets on their notice boards."

And for those who don't want to fork out too much at the pet hotel, another way is to get friends or relatives to play pet-sitter.

- CNA/fa

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Taiwan upgrades dozens of fighter jets

TAIPEI: Taiwan plans to complete the first stage of an ambitious plan to upgrade its fighter jet force by the end of 2013, in an effort to maintain a credible deterrent against China into the 2030s.

Some 60 of Taiwan's Indigenous Defence Fighters (IDFs) will be upgraded and ready for deployment within 12 months, according to a report submitted to parliament by the defence ministry.

The aircraft will be equipped with enhanced radar, avionics and electronic warfare capabilities, along with a locally-produced cluster bomb, according to the report.

The remainder of the country's 127-strong fleet of IDFs will be upgraded by 2017, the report said.

Taiwan deployed the IDFs in 1992 and the upgrade, which kicked off in 2009, will extend the service life of the aircraft for about another two decades according to the report, which was submitted to parliament last week and made available to AFP by a legislator on Monday.

The United States last year agreed to equip Taiwan's 146 ageing US-made F-16 A/B jets with new technologies in a US$5.85 billion deal that irked China.

China has repeatedly threatened to invade Taiwan should the island declare formal independence, prompting Taipei to develop more advanced weapons or seek to buy them from abroad.

- AFP/xq

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Two hurt as protesters attack Iraq deputy PM

RAMADI, Iraq: Two people were wounded when security forces opened fire to disperse protesters who attacked Iraq's deputy premier on Sunday, forcing him to flee a rally he was addressing, an AFP reporter said.

The demonstrators, who have blocked a key highway connecting Iraq to Syria and Jordan for the past week over the alleged targeting of their Sunni Arab minority by the Shiite-led government in Baghdad, threw water bottles, stones and shoes at Saleh al-Mutlak before grabbing and hitting him.

Mutlak, who is himself Sunni and from Anbar province where the protests have been staged, managed to escape after federal police arrived and fired their weapons into the air.

An aide to Mutlak, speaking on condition of anonymity, said the deputy premier was all right and was returning to Baghdad.

Mutlak had arrived at the rally site earlier on Sunday and began addressing the crowds, which have numbered in the tens of thousands at their peak over the past week, from an elevated platform.

But as he began speaking, demonstrators shouted "Traitor!" in an apparent reference to his being in the national unity government they were protesting against, and began throwing bottles of water at him, an AFP journalist said.

They then began hurling stones and shoes, at the point where Mutlak's personal security detail formed a protective ring around him and escorted him from the platform, firing their weapons above the heads of protesters.

But demonstrators followed them and broke through the security cordon, grabbing Mutlak's clothes and hitting him in the mouth, drawing blood.

Federal policemen then intervened, firing into the air to disperse the crowd, and Mutlak was driven off in an unmarked civilian car. Two people were wounded by the gunfire.

The rallies began on December 23 after the arrest three days earlier of Finance Minister Rafa al-Essawi's guards on terrorism charges, prompting the minister to call for Prime Minister Nuri al-Maliki to resign or be removed.

Demonstrators, who have massed in Sunni-majority provinces such as Anbar, Nineveh and Salaheddin, have said anti-terror laws were being used by the Shiite-led government to target their community.

- AFP/xq

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Work-life harmony in S'pore remains stable: study

SINGAPORE: A national study has shown that work-life harmony in Singapore has been stable over the past six years.

The 2012 National Work-Life Harmony Study, conducted by the Social and Family Development Ministry, shows Singapore having an index of 63.

This is a notch lower than the index of 64, achieved in the inaugural study in 2006.

In the study, zero indicates "no harmony", while 100 means "total harmony".

The study found that employees who scored 70 or higher tend to report better work, family and personal outcomes.

Those with children and who spend more time dining with family members also enjoy better work-life harmony.

While the workplace is generally supportive of work-life needs, the study showed more could be done with regard to flexibility at work.

This is especially so for mothers and younger employees.

"I hope that more employers will take the initiative to even just have a chat with these mothers. To understand the needs and requirements, before these women decide to quit, when they face a no-solution situation, because it is very costly for any business to lose a talented employee," said Yeo Mui Ean, president of Women Empowered for Work and Mothering.

"And of course one other group we have in the workforce is really the Generation Y. They have dreams they want to pursue beyond work. And in order to energise and engage them, we need to realise that this group of Generation Y work best in a manner that is different from the baby boomers and Generation X."

- CNA/xq

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FEOrchard appoints Koh Boon Hwee as non-exec director, non-exec chairman

SINGAPORE : Far East Orchard (FEOrchard), formerly known as Orchard Parade Holdings, has appointed Koh Boon Hwee as a non-executive director and non-executive chairman with effect from 1 January 2013.

62-year-old Mr Koh will take over from Philip Ng who will be stepping down as a non-executive director and non-executive chairman from next year.

In a statement issued on Friday, FEOrchard said Mr Ng will also cease to be a member of the Nominating Committee, but will remain as a strategic advisor.

It added that the appointment of Mr Koh is a continuing progression in the organisational development of the company and its business growth.

FEOrchard has undergone a strategic corporate restructuring this year with a new diversified portfolio focusing on property development, hospitality real estate development and management, and healthcare real estate space.

Commenting on the appointment, Mr Ng, who is also chief executive officer of FEOrchard's parent, Far East Organization, said: "As FEOrchard begins the next phase of its transformative growth, we will actively develop and expand on our domain real estate capabilities and will also seek to enlarge our footprint beyond Singapore.

"Boon Hwee brings immense value to this endeavour with his excellent record of accomplishments in developing people, businesses and customers across a broad spectrum of industries and markets."

Mr Koh is currently chairman (executive) at Credence Capital Fund II (Cayman) Ltd and Credence Partners Pte Ltd.

He is also currently non-executive chairman of Sunningdale Tech, Yeo Hiap Seng Limited, Yeo Hiap Seng (Malaysia) Berhad, AAC Technologies Holdings, Rippledot Capital Advisers, FEO Hospitality Asset Management, and FEO Hospitality Trust Management.

- CNA/ms

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Fewer small businesses confident of growth in 2013: survey

SINGAPORE: Fewer small companies in Singapore are confident that their businesses will grow in 2013 compared to the years before, found the CPA Australia Asia Pacific Small Business Survey.

The survey, conducted by accounting body CPA Australia between 2 and 15 October, covered 250 businesses that have fewer than 21 employees. The businesses surveyed spanned the retail, information, media and telecommunications sectors.

Businesses in Australia, Hong Kong, Malaysia, New Zealand and Indonesia were also polled for this report.

According to CPA Australia, confidence among Singaporean small businesses has been on a steady decline since 2010.

74 per cent of small Singaporean companies expect their businesses to grow in the year ahead, down from 77 per cent and 85 per cent in the last two consecutive years.

Gavan Ord, business policy adviser at CPA Australia said: "While confidence is relatively high, Singapore small businesses are significantly more likely to expect their business to 'grow a little' than 'grow strongly', indicating that business confidence is somewhat weaker than (what) the headline figure indicates."

"Reflecting this, the percentage of Singapore businesses that expect to increase their marketing spend in 2013 is the lowest of all markets surveyed," he added.

More Singapore businesses however expect the local economy to improve.

60 per cent of small businesses in Singapore expect the local economy to grow "strongly" or "a little" in the year ahead, compared to 56 per cent a year ago.

- CNA/jc

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Vivian Balakrishnan attends state funeral of former Gerakan president

SINGAPORE : Singapore's Environment and Water Resources Minister Vivian Balakrishnan was in Kuala Lumpur on Wednesday to attend the state funeral of former Gerakan president, Lim Keng Yaik.

Dr Balakrishnan conveyed condolences on behalf of the Singapore Government.

He was accompanied by Singapore's High Commissioner in Kuala Lumpur Ong Keng Yong.

Dr Lim, who served as Malaysia's Energy, Water and Communications Minister from 2004 until 2008, died on Saturday.

He was 73.

- CNA/ms

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More parents sending children for ECA during school holidays

SINGAPORE: More parents are sending their children for extra-curricular activities during the school holidays.

Parents say this allows the kids to spend time in a fun and meaningful way.

Singing along to a "pizza song", these children pick up pizza-making skills from a restaurant chef.

The lyrics have been modified to help them remember the steps.

Some parents also joined in the sessions to bond with their children.

The chef says enrolment goes up by some 30 per cent during the school holidays.

And this year, he conducted five more classes to cater to the demand.

Those who prefer more active options enlisted into sports camps.

One training camp by the Singapore Table Tennis Association teaches children the basics of the game.

Through special exercises, the children - aged between seven and 10 - build up their stamina and increase their flexibility.

There are 20 to 30 children in each session.

- CNA/de

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Putin signs helicopter, jet deals with Indian PM

NEW DELHI: Visiting Russian President Vladimir Putin signed deals to sell 71 military helicopters and kits to build 42 fighter jets to India on Monday as he sought to firm up ties with a traditional ally.

The contract for Mi-17 helicopters was first signed in 2010 and India has now increased the order from 59 to 71, the ministry of external affairs said in its list of deals agreed by Putin and Prime Minister Manmohan Singh.

India, which is one of the world's largest arms importers as it works to upgrade its military, depends on Russian-made military equipment that accounts for 70 per cent of its arms supplies.

"Russia is a key partner in our efforts to modernise our armed forces and enhance our defence preparedness," Singh said after holding talks with Putin and signing ten deals ranging from science and technology to education.

"A number of joint design, development and production projects are underway in high-technology areas. We expressed satisfaction that these projects are progressing well," Singh said.

Also among the deals were the delivery of parts for 42 Su-30MKI fighter planes for assembly in India. The original agreement for the jets was signed last year.

The value of the two deals was not known but Russian news agencies said they were worth about US$2.9 billion.

Russia once had a virtual monopoly over India's arms market, but New Delhi has been shopping around in recent years and Putin's visit is seen in Moscow as a chance to regain lost ground.

Moscow has been worried recently by New Delhi's increasing preference for Western suppliers, especially after Boeing was chosen last month over Russia's Mil plant for a major helicopter contract.

India has been unhappy about delays to deliveries of some naval equipment, notably the aircraft carrier Admiral Gorshkov, which is being refurbished for the Indian Navy in Russia.

Russia was originally to deliver the upgraded vessel in August 2008, but the date has now been pushed back to the end of 2013 while the price has more than doubled to US$2.3 billion.

After the meeting on Monday, Putin said the dialogue was "substantial and constructive".

"We agreed to deepen ties in the areas of military and defence sectors," he said.

The Russian Direct Investment Fund, a sovereign wealth fund, and the State Bank of India agreed to jointly invest up to US$2 billion to promote trade and economic cooperation projects.

The leaders also discussed the construction of India's largest nuclear power plant, in the southern state of Tamil Nadu.

First conceived in 1988, the Russian-built Kudankulam plant was expected to start operations in 2011. But protesters surrounded the compound after an earthquake and tsunami hit Japan's Fukushima Daiichi plant in March 2011.

Singh said negotiations for the construction of Units 3 and 4 at Kudankulam had made good progress.

Bilateral trade has been growing steadily and is expected to reach around US$10 billion in 2012, up from US$7.5 billion in 2009, according to official figures.

"Our trade turnover has overcome the consequences of global crisis, and in 2012 we expect to reach record numbers, over US$10 billion. Our next goal is to reach US$20 billion already by 2015," Putin had said before the one-day visit.

Agreements in the pharmaceutical, chemical and cultural sectors were also signed on Monday.

The venue of the talks was switched to Singh's official residence due to violent protests in central New Delhi following the gang-rape of a student that has caused widespread public outrage.

- AFP/xq

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Norovirus kills six in Japanese hospital

TOKYO: The norovirus has killed six elderly people in a rural Japanese hospital and infected dozens of other patients and staff, officials said on Sunday.

The winter bug, which causes vomiting and diarrhoea, has killed six patients in their 70s and 80s since December 12, the officials from the Shunko-kai Higashi Hospital in southern Miyazaki prefecture said.

Another 24 patients and 14 staff are also infected, with five of the patients in a serious condition.

The hospital officials apologised and said the outbreak could have been caused by a caregiver who used a disposable apron throughout the day rather than replacing it after caring for each patient.

- AFP/xq

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Man loses S$6,000 in unhonoured online purchase

SINGAPORE: 21-year-old Kenrick Ho is S$6,000 poorer after an online purchase gone wrong.

He had ordered 10 mobile phone sets from an eBay seller named Ms Siah, in September 2012.

But after making full payment, no goods were delivered.

"(I am) very depressed and stressed because I can do alot with S$6,000," he lamented. "What if I need the money urgently? The seller said she'd refund the money, but she kept delaying it."

Like Mr Ho, 46-year-old Madam Teo Kim Sang ordered three mobile phone sets and paid Ms Siah S$1,500 in October.

After much hassle, Madam Teo managed to get a refund of S$750, two weeks after she made full payment.

She said: "If today is Saturday, she'll say '(On) Friday I'll update you, whether I get the phone, whether I deliver, all these things' and sometimes she'll say '(On) Friday I'll deliver (the phones)' but when Friday comes, nothing (arrives)."

The relief teacher has since cancelled her order.

Both Mr Ho and Madam Teo said they will lodge a report with the Small Claims Tribunal next week.

Separately, calls from Channel NewsAsia to Ms Siah went unanswered.

According to the Consumers Association of Singapore (CASE), there were 228 reports of "failure-to-honour" transactions between January and November this year.

Of these, CASE handled and assisted 48 of the reports. Of those that CASE handled, about half were resolved.

Experts say it is more difficult for buyers to recover their money as there is no physical shopfront.

"The practices of the online vendors or online businesses are covered by the Consumers Protection Fair Trading Act and consumers can exercise their right under the Act to file a claim at the Small Claims Tribunal," said Seah Seng Choon, executive director of CASE.

"Secondly, if the consumer suspects foul play or cheating in any way, they should file a complaint with the police. They should ensure that the business is set up in Singapore. For businesses that are set up overseas, consumer would have great difficulty seeking redress if there's any dispute later on."

With more people going online to make their purchases, Mr Seah said it is important to read the terms and conditions of the transaction so as to avoid pitfalls of online shopping.

He added that shoppers who purchase items online has the right under the lemon law to request the businesses to repair, refund or even reduce prices if there are defects on the goods.

Another way to avoid problems in transactions is to go for cash-on-delivery deals.

- CNA/xq

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Venture Scouts, Girl Guides conferred prestigious awards

SINGAPORE: Eighteen Venture Scouts and seven Girl Guides in Singapore have been conferred the highest honour in the movement.

President Tony Tan Keng Yam presented the President's Scout Award and the President's Guide Award for 2012 at the Istana on Friday.

The awards are the highest honour given to Singapore's most all-rounded Venture Scouts and Girl Guides.

The awards come as recognition of the recipients' excellent performance, dedication to the movement, and service to the community.

- CNA/ck

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Singapore shares end 0.5% higher

SINGAPORE -- Singapore share prices ended 0.5% higher on Thursday, shrugging off negative cues from Wall Street.

The blue-chip Straits Times Index (STI) rose 16.95 points to end at 3,175.52, supported by the announcement of fresh easing measures by the Bank of Japan.

While the market opened lower amid fresh concerns over whether a US fiscal cliff deal will emerge before year-end, support came from the BOJ's moves to increase the size of its asset purchase programme and its plans to review its inflation target.

In the broader market, 2.03 billion shares changed hands, with gainers and losers nearly evenly matched. There were 198 gainers and 196 losers.

Among the gainers, Olam rose 1.3% to S$1.56. In two straight days of buying in the open market, Singapore's Temasek Holdings has raised its stake in the commodities trader to 18% from 16%.

- CNA/ir

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S. Korea's Park to win presidential vote: TV

 

SEOUL: South Korea has elected its first woman president, TV channels said Wednesday, predicting a clear victory for conservative Park Geun-Hye, daughter of the country's former dictator.

The KBS, SBS and MBC national broadcasters all declared Park "certain" to secure victory over her liberal rival Moon Jae-In with nearly 40 per cent of the nationwide vote counted.

- AFP/ck

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ASEAN-India commemorative summit to chart future ties

SINGAPORE: The achievements in 20 years of ties between ASEAN and dialogue partner India will be celebrated with a commemorative summit in New Delhi on Thursday.

ASEAN leaders and their Indian host, Prime Minister Manmohan Singh, are expected to adopt the "ASEAN-India Vision Statement" charting the future direction of their ties at the summit.

India started its Look East policy in 1992 under the late Prime Minister Narasimha Rao. At that time, Dr Manmohan Singh was the finance minister in the Indian Cabinet.

Since then there has been no turning back on India's ties with ASEAN.

India joined the ASEAN Regional Forum in 1996 and the East Asia Summit in 2005.

At the commemorative summit, Singapore's Prime Minister Lee Hsien Loong is expected to reiterate the Republic's support for India's continued engagement of the region, its participation in the ASEAN-led forums and India's contributions to the ASEAN Community-building efforts.

Mr Gopinath Pillai, chairman of the Institute of South Asian Studies in Singapore, describes the role India can play in the region.

Mr Pillai said: "From Singapore's point of view, the involvement of all the major countries is vital and India is a major player. So we would like to see India being very involved so that all the powers have a stake here and the region will prosper.

"India's business interests will grow. As it is, Southeast Asia has become a focus area for Indian businessmen -- either to directly invest in Southeast Asia or use Southeast Asia to go into other countries. It will take time but it is happening."

But there are some who still feel that India's ties with ASEAN are moving too slowly, said Mr Pillai.

Mr Pillai added: "But one has to take into account the composition of the two sides. On the ASEAN side, we have ten members and we have to reach consensus before we can move forward. On the Indian side, they have their own pre-occupations in the region, domestically, so that also delays the process."

However, growth in one area between the two sides has been significant, said observers, and that is in the area of two-way trade.

ASEAN-India total trade reached US$75 billion last year, 43 percent more than what was achieved in 2010.

And one project which economists said needs more push is the ASEAN-India Free Trade Agreement.

Negotiations on the Services and Investment Agreements are still going on, said the former chief mentor of the Confederation of Indian Industries, Tarun Das.

Mr Tarun Das said: "When we are negotiating between ten countries on one side and one country on the other side, there are 11 countries involved, and each country is different -- each country has its own strengths, weaknesses and its own concerns.

"What you are seeing is an engagement to try and address all concerns, work out compromised solutions, find the right language to be with each one's agendas and issues.'

The leaders of ASEAN and India have set a new target of achieving US$100 billion in trade between both sides by 2015.

- CNA/lp

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India cuts growth rate forecast

NEW DELHI: India on Monday cut its growth forecast for the current fiscal year to just below six percent, putting Asia's third-largest economy on track for its worst annual performance in a decade.

The finance ministry said "supportive" moves from the central bank would be needed even for the economy to expand at the revised level of 5.7-to-5.9 percent, down from 7.85 percent estimated at the start of the year.

The forecast came a day before the bank was expected to keep the benchmark interest rate on hold as it waits for stubborn inflation to ease, despite mounting pressure for a cut to boost the sluggish economy.

"It should be possible for the economy to improve the overall growth rate of GDP (for the year) to around 5.7 percent to 5.9 percent" from 5.4 percent in the first half, said the Mid-Year Economic Analysis tabled in parliament.

The full-year rate would be far below the near double-digit pace India set before the onset of the global financial crisis.

Finance Minister P. Chidambaram has been urging the central bank to reduce high interest rates to bolster the economy.

But the bank has kept rates steady since April -- when it cut them for the first time in three years -- unlike other developing countries which have lowered borrowing costs to shield their economies from the eurozone crisis.

India's bank has insisted inflation must recede and the government needs to curb its ballooning fiscal deficit -- the widest of all emerging market economies -- before more rate cuts.

Growth in 2011-12 fell to a nine-year low of 6.5 percent hit by high interest rates, struggling overseas economies and sluggish investment caused by concerns about policymaking and corruption.

India's economy has not expanded by less than 6.5 percent since the 2002-2003 financial year.

Economists had already cut their year growth forecasts to mid-five percent or lower.

- AFP/ir

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EC supply rate can afford to slow: housing experts

SINGAPORE: Housing experts say the supply rate of executive condominiums (EC) into the housing market can afford to slow down, as some 20 per cent of units launched as part of seven EC projects this year remain unsold.

"I think EC units would have probably hit the ceiling in terms of amount, so I probably think this year we will hit close to about 4,000 being supplied to the market," said Donald Han, special advisor at HSR Property Group.

"We think we can go steady, to a little bit slower in terms of the EC component."

There have been about 10 EC projects this year, with three more to be launched by the end of December.

As of October this year, with the launch of the seven projects, almost 3,000 EC units have been sold. About 800 units are still unsold.

By year's end, with the launch of three more EC projects, more than 2,400 units will be available.

The government also launched six EC land sites in the second half of this year, which would see over 3,000 units being built.

In addition, five land sites slated for launch in the first half of 2013 will bring another 3,100 units on stream.

Experts add with land costs increasing, the prices of EC units have also gone up.

However, they are still cheaper than private condominiums, by about 20 to 30 per cent.

- CNA/xq

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2,500 needy families to get help with childcare costs

SINGAPORE: Some 2,500 low-income families will benefit from a S$250,000 initiative to help their children.

The five Commmunity Development Councils will help identify eligible families with monthly household incomes of less than S$3,500.

OCBC Bank will also contribute S$100 when a low-income family deposits the first S$50 into their Child Development Account (CDA).

Under the existing Baby Bonus scheme, the government will match the contributions to the CDA dollar for dollar.

The money in the account can then be used at approved institutions for the child's development and healthcare needs.

Acting Minister for Social and Family Development Chan Chun Sing said: "This year, we have also expanded the kinds of things that you can spend the CDA money (on). For example, it will also include early intervention programmes, visits to the doctor, medical insurance and purchase of healthcare-related products. We hope that in this small way, we can help families to defray the cost of bringing up the children, especially for the needy families."

Under the initiative, parents can also attend financial literary talks by OCBC Bank staff volunteers to learn more about money management.

- CNA/xq

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