NTU to offer new degree programme in public policy & global affairs

SINGAPORE: Nanyang Technological University (NTU) will offer a first-of-its-kind degree programme in Public Policy & Global Affairs in Singapore.

The Bachelor of Arts (Honours) programme offers a unique interdisciplinary curriculum that combines politics and international relations, public policy and public administration.

The programme, which will enrol its pioneer class of 55 students this August, will focus on two key areas for its teaching and research - global Asia and Asian regionalism and public policy in science and technology, creating new niche areas for NTU.

NTU said the new programme will prepare students for career and leadership roles in government agencies, non-profit organisations and the private sector.

It also fills the gap of one of the disciplinary cores in social sciences to be offered by NTU, namely political science.

Presently, through its School of Humanities and Social Sciences, seven social science majors are offered by NTU: Chinese, English, Economics, History, Linguistics and Multilingual Studies, Psychology and Sociology.

Prof Kam Chan Hin, Associate Provost in charge of Undergraduate Education at NTU, said: "As a university with established strengths in science, engineering and public administration, NTU is well-placed to offer this new programme to meet the growing demand for such policy experts, especially in Asia. The course will offer students real-world learning and practice in public service, particularly on how to deal with such strategic challenges and international and public affairs as a whole.

"The course builds on the strengths of NTU's core disciplines in the social sciences and enhances the intellectual breadth of the university. Besides providing rigorous training on the finer aspects of policy-making and global affairs, it will also imbue students with the critical values of leadership, integrity, life-long learning, exemplary character and professionalism."

Throughout the four-year direct honours programme, students will be exposed to a broad variety of subjects, such as policy analysis, programme evaluation, public financial management, human resource management and non-profit management.

They will also receive professional training in political dynamics, international politics, comparative politics, comparative public administration and global affairs.

Interdisciplinary courses will be taught by professors from different disciplines drawn from across the schools at NTU.

Prof Kam said: "Upon graduation, students will be ready to pursue a broad spectrum of rewarding careers in civil service administration, public management, policy analysis, journalism and research. They can also choose to become teachers, especially in Social Studies, History and China Studies. I am pleased that several potential employers, including a few ministries, the Economic Development Board and IE Singapore, have already expressed support for the programme."

Graduates from the programme will also be qualified to teach Social Studies, History and China Studies from primary school to junior college levels, to meet a growing demand in Singapore's schools.

As the S Rajaratnam School of International Studies (RSIS) will be a major partner in teaching and research, graduates from the programme can also pursue further studies at the RSIS.

The Public Policy and Global Affairs programme will be driven by Prof He Baogang, who has established an international reputation as an authority on Chinese democratisation, non-government organisations and local governance, as well as in international relations and Asian studies.

Prof He had also served as an adviser to public and governmental organisations, including the United Nations Development Program (UNDP) and the Danish International Development Agency.

- CNA/xq

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Bomb kills two, wounds 12 in Thai south

BANGKOK: Two security officials died and 12 people were wounded in a blast in Thailand's restive south on Saturday, an army spokesman said, as unrest continued despite plans for talks with a key rebel group.

The bomb hidden in a motorcycle in Yala provincial town was aimed at paramilitaries who had been manning a nearby checkpoint, said southern army spokesman Colonel Pramote Promin. Six civilians were among the wounded.

It follows twin bombings on Friday in Narathiwat province, near the Malaysian border where a nine-year insurgency has claimed more than 5,500 lives.

The Thai government has agreed to hold talks with Barisan Revolusi Nasional, part of a web of insurgent groups in the south.

A stubborn insurgency seeking greater autonomy has raged across several provinces in the south of Thailand for nine years -- with near-daily shootings and bombings.

Malaysian premier Najib Razak on Thursday said his country would host the talks in Kuala Lumpur in two weeks, following discussions with Thai Prime Minister Yingluck Shinawatra, who was in the country for bilateral meetings.

- AFP/xq

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"Don't Stop Believin'" tops 2012 most-watched dramas list

SINGAPORE: Singapore broadcaster MediaCorp on Friday unveiled the list of most-watched television programmes over its main free-to-air channels.

School drama "Don't Stop Believin'", which features stars like Felicia Chin, Romeo Tan, Elvin Ng and Ian Fang, topped the list of popular Mandarin dramas on Channel 8, with an average viewership of 918,000.

Heartland drama "It Takes Two" trailed close behind, drawing 912,000 viewers each night, with the blockbuster period drama "Joys of Life" rounding out the top three, bringing in 875,000 viewers each episode.

Despite strong competition from imported dramas, locally-produced "Show Hand" emerged tops on Channel U, with 361,000 viewers tuning in for the moving drama series each night.

"Show Hand" beat out Korean drama "He's Beautiful" and Taiwan drama "Material Queen" which both drew 342,000 viewers each episode, and took the second as well as third spot respectively.

Light-hearted Singapore school drama "Jump!" managed to take the fourth spot, with an average viewership of 337,000.

"Crimewatch 2012" was tops on Channel 5, heading the list of most popular English drama and variety series with an average viewership of 382,000 , followed by "Sasuke Singapore", "Point of Entry 2" and its sequel "Point of Entry 3".

Other notable shows include "Food Source", which was named the most popular Mandarin variety show, attracting some 831,000 viewers per episode, as well as "Star Awards 2012 - Show 2", which drew over 1.5 million viewers.

This makes "Star Awards 2012 – Show 2" the most-watched television programme of last year, beating even the televised broadcast of the National Day Parade 2012.

In addition to the viewership figures of its most popular shows, MediaCorp also revealed in the same report that the average viewership of Channel 8, Channel U and Channel 5 has increased in 2012, as had the number of people who watched its programmes online, via xinmsn.com's Catch-up TV service.

-CNA/ha

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Retired Taiwan general charged with spying for China: media

TAIPEI: A retired Taiwanese lieutenant general has been charged with spying for China in the latest of a string of espionage cases to shock the island, according to media reports on Thursday.

Chen Chu-fan, a former vice chief at the Military Police Command allegedly collected intelligence on Taiwan's military and political situation and handed his findings to Beijing, according to the country's FTV news channel.

Chen is also alleged to have recruited a retired military intelligence officer to help him gather information for China, the channel said, citing indictment papers.

Prosecutors were not immediately available for comment, while a defence ministry spokesman confirmed that no active serviceman was implicated in the case.

Taiwan has been hit by a string of spying scandals in recent years, reflecting the fact that intelligence gathering has continued despite warming ties with China.

Earlier this month, a former Taiwanese air force lieutenant colonel received 12 life sentences for spying for China for a reported payment of NT$7.8 million (US$269,000).

In 2011, an army general and chief of an intelligence unit was sentenced to life in prison for spying for China in one of the island's worst espionage scandals.

- AFP/xq

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More job opportunities for Singaporeans in aerospace industry

SINGAPORE: Singapore's aerospace industry produced a total output of S$8.7 billion last year - more than double the output a decade ago.

The industry accounts for nearly 20,000 jobs and a majority of them are skilled workers in areas like aerospace manufacturing, repair and overhaul, testing, as well as training, research and development.

It will also require over 6,300 new direct employees by 2015.

Speaking at the opening of the AeroSpace eXchange 2013 on Wednesday, Senior Minister of State for Trade and Industry Lee Yi Shyan said the growth of the industry will create many job opportunities for Singaporeans.

Meanwhile, the Association of Aerospace Industries (Singapore) has signed three Memorandums of Understanding (MOUs) with industry associations to develop training programmes.

These organisations include BSI Group Singapore and VTOC "fokker" BV and educational institution German Institute of Science and Technology - TUM Asia.

Mr Lee noted that the National University of Singapore, Nanyang Technological University and Singapore Institute of Technology, as well as local polytechnics offer specialised courses in aerospace and will supply a pipeline of engineers and associate engineers for the industry.

For instance, a new 10.6 hectares ITE Campus - set to open by the end of this year - will house a Boeing 737 aircraft to offer aerospace students practical and hands-on training on aircraft maintenance.

Mr Lee said the industry has always been "amongst the most productive industrial sectors" and that the government will help industries switch to higher productivity.

"Looking ahead, productivity and innovation must continue to be key drivers of our growth. To help firms overcome manpower challenges, the newly-introduced Budget 2013 contains a number of programmes such as the Wage Credit Scheme, PIC and PIC Bonus, enhanced PACT and Corporate Income Tax rebate, to help our companies transit to a productivity-driven business model," he said.

- CNA/de

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India pledges more comfort on creaking rail network

NEW DELHI: India on Tuesday pledged better catering, comfort and cleanliness as part a $11.7-billion budget for Asia's oldest rail network along with steps to help stop trains from mowing down people and elephants.

Railway Minister Pawan Kumar Bansal hiked freight rates by five per cent in his budget for the sprawling state-run network, India's main form of long-distance transport despite competition from airlines and roads.

For the first time, the cost of shipping goods will be linked to fuel prices, Bansal added, in a move highlighting the Congress-led government's resolve to rein-in deficit-ballooning subsidies for publicly owned companies.

He held fares steady after hiking them last month for the millions of train passengers who travel daily but said they would have to rise in future and insisted the troubled service must be made "financially sustainable".

The annual budget for one of the world's largest rail networks is presented separately due to huge freight and passenger volumes.

It will be followed on Friday by the national budget that economists expect to feature the most belt-tightening in years in a bid to close a widening deficit gap and boost investor confidence.

Bansal, presenting his maiden rail budget for the financial year to March 2014, promised to improve catering, comfort, cleanliness and safety aboard trains as well as to build more lines and introduce new trains.

"A plan investment of 633.63 billion rupees is proposed for 2013-14," Bansal told parliament.

The Victorian-era railways -- built by India's former British colonial rulers -- bills itself as the "lifeline to the nation" because of its vast reach but it has become decrepit and accident-prone through lack of investment.

Bansal promised to significantly reduce the number of unmanned crossings which claim the lives of around 15,000 people annually, according to recent figures -- a number the government describes as a "massacre".

"We will strive to work towards a zero accident situation," he said.

For India's estimated 26,000 wild elephants, he also pledged "special measures" to "safeguard the lives of these gentle giants" which are sometimes hit at railway crossings in forested areas.

In December, a passenger train killed five elephants crossing tracks in eastern India.

The government has said it is considering imposing speed restrictions on trains at major elephant-crossing points to reduce the number of fatalities.

- AFP/xq

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Asia to get almost 10,000 planes over 20 years: Airbus

SINGAPORE: Asia-Pacific carriers will take delivery of 9,870 new passenger and cargo aircraft valued at US$1.6 trillion over the next 20 years, European plane manufacturer Airbus said Monday.

The region will account for 35 percent of aircraft deliveries worldwide and 40 percent of the market in terms of value during the period, putting it ahead of Europe and North America, Airbus said in a statement.

Airbus expects a total of 28,200 new aircraft deliveries globally with a market value of US$4.0 trillion in the next 20 years.

"Everything is going to grow, but the shift to Asia-Pacific in terms of market share and market presence is going to be enormous," said Airbus chief operating officer John Leahy.

"Growing economies, bigger cities and increasing wealth will see more people flying, driving the need for larger and more efficient aircraft," he told journalists in Singapore.

Emerging markets like China and India as well as the growing middle class in the region are powering demand for new aircraft, Leahy said, with Asia-Pacific carriers favouring wide-body models.

The size of the middle class in the Asia-Pacific region is expected to increase fivefold from 746 million in 2011 to 3.4 billion in 2031, according to estimates cited by Airbus.

In contrast, the number of people making up the middle class in North America is expected to drop while a modest increase is predicted for Europe during the 20-year period.

Domestic travel in the United States, which currently holds the largest share of world passenger traffic, is also expected to be matched by travel within China in 2031 at 10.4 percent of the global total.

-AFP/fl

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Chavez "working" from hospital, aide says

CARACAS: Venezuelan President Hugo Chavez is able to work on government issues and is "very energetic" despite being hospitalised and breathing through a tube, a top aide said Saturday.

The 58-year-old president has not been seen or heard from since Monday, when he returned to Caracas from cancer surgery in Cuba.

"The president continues to breathe through a tracheal tube, but he is able to communicate with us through written notes and give us instructions," Vice President Nicolas Maduro told local television.

He said he spent more than five hours with Chavez in his hospital room on Friday, and was able to discuss several issues, specifically military affairs and the economy.

"He was very energetic, had a lot of spirit and vitality, and that's what we wanted to tell the people despite the late hour," Maduro said.

"We have reviewed a number of subjects, and he told us about being extremely happy to be in Caracas, the city of his heart."

Since his last surgery, the only photos released of Chavez came out almost a week ago. He was seen bed-ridden but smiling, looking through a newspaper with two of his daughters at his side.

At the Caracas military hospital where Chavez is said to be continuing his convalescence, soldiers are on guard outside to keep out journalists and curious onlookers.

Chavez had declared himself free of cancer after earlier rounds of surgery and went on to win another six-year term in October elections.

But he later suffered a relapse and after the latest surgery in Havana on December 11, he was too sick to return to Venezuela for his scheduled inauguration on January 10.

The inauguration has been postponed indefinitely, prompting the opposition to cry foul. Vice President Nicolas Maduro, Chavez's handpicked heir, has essentially been running the country in Chavez's absence.

-AFP/fl

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Uncertainty as Italian election campaign wraps up

ROME: Italy held its final day of campaigning on Friday ahead of crucial elections, as international investors warned an unclear outcome could shake the economy and set off shockwaves through the Eurozone.

Italians will cast their ballots on Sunday and Monday as they grapple with the longest recession in two decades and austerity cuts that have caused deep resentment in the euro area's third economy.

The most likely outcome is a centre-left government led by Democratic Party leader Pier Luigi Bersani, a former communist with a down-to-earth manner who now espouses broadly pro-market economic views.

"I am very, very confident of victory although we should not underestimate the right," Bersani said in one of his last television interviews ahead of Saturday, when no campaigning is allowed.

But the result is by no means certain and whether Bersani can form a stable coalition with a majority in both houses of parliament is in serious doubt, putting the financial markets on edge.

The European Commission added further pressure on Friday, downgrading its forecast for the Italian economy to a 1.0-percent contraction this year from its previous forecast of a 0.5-percent shrinkage.

Bersani is due to address his last electoral meeting in Rome later on Friday, while his rival Silvio Berlusconi will address a rally in Naples.

With everything at stake, the campaign has been remarkably underwhelming, with few rallies and a lot of back-and-forth in television interviews with little or no hard detail on electoral promises.

A case in point was Silvio Berlusconi's vow to refund Italians an unpopular property tax levied by Prime Minister Mario Monti in an official-looking letter that prompted some people to queue up at post offices to claim their money straight away.

European capitals and foreign investors will be watching closely as a return to Italy's free-wheeling public finances could spell disaster for the Eurozone.

"We believe that a risk exists that after the February 24-25 elections there may be a loss of momentum on important reforms to improve Italian growth prospects," Standard & Poor's ratings agency said in a report this week.

London-based Capital Economics warned that even with a stable governing majority "huge underlying economic problems suggest that it may only be a matter of time before concerns about the public finances begin to build again."

"And a hung parliament might plunge Italy and the Eurozone back into crisis rather sooner," the economic research company said this week.

Polls open at 0700 GMT on Sunday and close at 1900 GMT. A second day of voting on Monday begins at 0600 GMT and ends at 1400 GMT, after which preliminary results will begin to trickle through late Monday and into Tuesday.

The wild card in the election will be Beppe Grillo, a tousle-haired former comedian whose mix of invective and idealism has appealed to crowds of protest voters fed up with corrupt politicians.

Grillo's last election rally later on Friday in a large square in Rome traditionally associated with the left is expected to be packed with supporters.

Bersani has said he will follow the course set by Monti, a former high-flying European commissioner roped in to replace the scandal-tainted Berlusconi who was forced to step down in November 2011.

But Bersani will come under immediate pressure to row back on austerity and do more to create jobs in an economy where an already record-high unemployment rate of 11.2 percent masks far higher joblessness among women and young people.

A Bersani victory is far from a sure thing mainly because of the rapid rise in the polls of Berlusconi, the irrepressible 76-year-old billionaire tycoon who is still in the game even after 20 tumultuous years in Italian politics.

This is the sixth election campaign for Berlusconi, who has been prime minister three times, has survived multiple court cases, sex scandals and diplomatic gaffes and has turned into something of an international pariah.

One recent poll said he was within 2.5 points of catching up with Bersani.

Berlusconi has pursued a populist campaign, intimating that Italy's social misery can be blamed on a "hegemonic" Germany imposing austerity.

The president of the European Parliament, Martin Schulz, who was once invited to play the role of a Nazi camp guard by Berlusconi, has warned Italians not to vote for the flamboyant tycoon.

Several polls indicate that Bersani may score only a half-victory by managing to secure a stable majority in the lower house of parliament, the Chamber of Deputies, but failing to get one in the upper house, the Senate.

That would give Monti, an economics professor who is running as head of a centrist grouping, a key role as a coalition partner and could bring him back into a government with a ministerial posting.

An average of the most recent polls would give Bersani 34 percent, Berlusconi 30 percent, Grillo 17 percent and Monti around 11 percent of the vote.

Coming after the last polls were made public, Pope Benedict XVI's resignation could boost the church-going Monti and stop Berlusconi in his tracks as it has drawn away the media attention that the showman tycoon has often relied on.

The run-up to the vote has also been marked by a succession of high-profile corruption inquiries against politicians and business leaders in a period similar to one in the early 1990s that brought down Italy's entire political system.

Monti says the scandals mark "the end of an era".

-AFP/fl

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India strike paralyses banks, offices for second day

NEW DELHI: India's public-sector banks and many government offices were shut Thursday on the second day of a general strike called to protest against the government's planned pro-market reforms.

Eleven unions called the strike in protest against the measures which they condemn as "anti-poor" and likely to cost jobs and raise prices.

While the impact of the stoppage was patchy and felt mainly in heavily unionised state institutions, analysts said it underscored discontent among workers.

"The government must sit down with the workers and hear them out because it cannot afford to ignore this class anymore, with general elections due in 2014," Shubha Singh, a New Delhi-based political analyst and writer, told AFP.

The reforms include opening the retail, insurance and aviation sectors wider to foreign investment in a bid to spur a sharply slowing economy.

They also involve raising prices of subsidised diesel and reducing the number of discounted cooking gas cylinders to reduce a ballooning fiscal deficit.

Leaders of two main leftist parties said they were boycotting the opening session of parliament on Thursday in solidarity with the strikers.

The government is already under pressure over an economy growing at its weakest pace in a decade and widespread allegations of corruption.

The Associated Chambers of Commerce and Industry has estimated losses from the two-day stoppage at more than 200 billion rupees ($3.7 billion).

Attendance at government offices was thin and many education institutes were closed as teachers' unions joined the strike. Universities cancelled exams set for Thursday.

Operations at India's state-run banks were also halted.

Top carmaker Maruti, which has a history of labour unrest, declared a holiday to avert trouble, while two-wheeler manufacturer Hero MotorCorp gave workers a day off.

The All India Trade Union Congress said millions of workers were taking part in the strike and called on them to keep up pressure on the government, already facing a hostile opposition in parliament.

But most privately-run factories reported normal operations and financial markets were open in Mumbai.

Police said dozens of people were arrested after protests turned ugly in an industrial hub near New Delhi on Wednesday when a mob threw stones, vandalised factories and set several vehicles on fire to enforce the strike.

- AFP/al

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Embattled Sony announces another asset sale

TOKYO: Sony said Wednesday it would book a US$1.2 billion gain from selling part of an online medical services unit, the Japanese electronics giant's latest asset sale as it eyes a full-year profit.

The firm has announced a massive corporate overhaul that includes thousands of job cuts and the sale of a chemical division and its US headquarters in Manhattan.

It is also investing in Olympus to tap the camera and medical equipment maker's strong foothold in the global market for endoscopes used in surgery.

On Wednesday -- when it is also expected to unveil its latest PlayStation games console -- Sony said it would book a one-time gain of 115 billion yen (US$1.2 billion) by selling a six percent stake in M3 Inc. to Deutsche Securities. The unit supplies online medical information to doctors.

Sony, which would still own about 50 percent of M3 after the sale, said the move was part of a bid to "transform" its business and "reorganise assets" and that it would still remain M3's major shareholder.

The maker of Bravia televisions lost 456.66 billion yen in the last fiscal year, its fourth year in the red, but says it is still on track for a 20 billion yen net profit in the year to March.

Sony is expected to announce the launch of the latest PlayStation console in the United States on Wednesday as it faces growing competition from cheap -- or sometimes free -- downloadable games for smartphones and tablets.

Its PlayStation 3 has sold more than 75 million units, while over 155 million units of the PlayStation 2 have been sold since its debut in 2000, making it one of the best-selling videogame consoles of all time.

Sony, Nintendo and Xbox maker Microsoft dominate the global games console market, which is worth about $44 billion annually, according to industry figures.

Japan's electronics sector, including giants Sony, Panasonic and Sharp, has suffered from myriad problems including a strong yen, slowing demand in key export markets, fierce overseas competition especially in television sales, and strategic mistakes.

It has also been hurt by a Chinese consumer boycott of Japanese brands stemming from a territorial spat between Beijing and Tokyo.

-AFP/fl

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Asian markets fall, Japan weighed by strong yen

HONG KONG: Asian markets were mostly lower on Tuesday as Tokyo slipped following an uptick in the yen while Chinese shares fell on fears Beijing may act to rein in soaring property prices.

With US markets closed for the Presidents' Day public holiday, there were no drivers from New York.

Tokyo's benchmark Nikkei 225 slipped 0.31 percent to end at 11,372.34 on profit-taking and as the yen rose after Japan's finance minister said the central bank's independence was safe for now.

Seoul added 0.20 percent to 1,985.83 and Sydney ended 18.5 points, or 0.37 percent, higher at 5,081.9.

Hong Kong lost 1.02 percent, or 238.03 points, to 23,143.91, while Shanghai shares closed down 1.60 percent, or 38.65 points, at 2,382.91 amid fears Beijing may tighten regulations in the sector to try to control home prices.

"Negative factors, including rebounding property prices and inflation pressures, are gaining momentum," Tebon Securities analyst Zhang Haidong told Dow Jones Newswires.

In Tokyo, Finance Minister Taro Aso moved to reassure on the independence of the Bank of Japan and also said the government had "no intention" of asking the central bank to buy foreign bonds as part of its monetary easing policy.

The yen rose after Aso's comments took the edge off Prime Minister Shinzo Abe's warning on Monday that he would consider changing the law to take control of the bank if it could not achieve a new two percent inflation target.

"We are not thinking about a law change at the moment," Aso said at a regular news conference on Tuesday.

Abe's remarks had added to selling pressure on the yen, which was already weakened by the Group of 20's decision not to label Tokyo a currency manipulator over its recent monetary easing policy.

In foreign exchange trade, the dollar slipped to 93.67 yen in Tokyo from 93.95 yen in London on Monday, while the euro was weaker at 125.02 yen against 125.43 yen.

The euro was also at $1.3348 against $1.3353.

"The pair (dollar against the yen) fell on Mr. Aso's remarks on foreign bond purchases," said a senior dealer at a major Japanese trust bank.

Oil prices turned lower, with New York's main contract, light sweet crude for delivery in March falling four cents to $95.53 a barrel in the afternoon.

Brent North Sea crude for delivery in April slipped 27 cents to $117.42.

Gold was at $1,612.50 at 1050 GMT, compared with $1,610.52 late Monday.

In other markets:

- Singapore closed 0.23 percent, or 7.63 points, higher at 3,295.77.

Property developer City Developments was down 0.61 percent to S$11.34 while United Overseas Bank gained 0.05 percent to S$19.35.

- Bangkok added 0.58 percent, or 8.78 points, to 1,532.07.

Airports of Thailand dropped 2.98 percent to 114.00 baht, while coal producer Banpu rose 1.88 percent to 380.00 baht.

- Kuala Lumpur lost 0.36 percent, or 5.86 points, to 1,615.07.

CIMB shed 0.3 percent to 6.98 ringgit, Kuala Lumpur Kepong eased 0.4 percent to 21.20 and Malayan Banking dipped 0.3 percent to 8.84 while YTL Corp gained 1.3 percent to 1.58 ringgit.

- Jakarta slipped 9.98 points, or 0.22 percent, to 4,602.06.

Palm oil producer Astra Agro Lestari fell 2.12 percent to 18,500 rupiah, food manufacturer Cahaya Kalbar lost 4.29 percent to 1,560 rupiah, and cigarette producer Gudang Garam rose 0.59 percent to 50,950 rupiah.

- Taipei added 0.22 percent, or 17.35 points, to 7,960.88.

HTC climbed 3.68 percent to Tw$282.0 while Hon Hai Precision was 1.57 percent higher at Tw$84.1.

- Wellington ended 0.71 percent, or 29.73 points, higher at 4,244.21.

Contact Energy rose 3.4 percent to NZ$5.25, Telecom added 1.1 percent to NZ$2.28 and Sky City was flat at NZ$4.02.

- Mumbai advanced 0.69 percent, or 134.64 points, to 19,635.72.

Tech Mahindra climbed 4.82 percent to 1,034.0 rupees while ailing Kingfisher Airlines rose 5.0 percent to 10.53 rupees on hopes of fresh funding.

- AFP/de

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Sony slashes price on PlayStation Vita in Japan

TOKYO: Sony said on Monday it was slashing the price on its hand-held PlayStation Vita console in Japan by as much as one-third as the electronics giant and its rivals face stiff competition from online games.

The company said its 3G/Wi-Fi model would sell for 19,980 yen ($210) from later this month, down from the current 29,980 yen, with the price of the Wi-Fi model also reduced to 19,980 yen from the current 24,980 yen.

Sony warned earlier this month over slow sales of the Vita. On Monday it said the price cut was designed to "make the platform more accessible than ever and will appeal to wider audiences looking to buy the model best suitable for their own game play style".

Sony, which is aiming to return to profitability after four years in the red, is expected later this month to announce the successor to its popular PlayStation 3 home game console.

Xbox maker Microsoft is also expected to unveil a new versions of its console. The consoles have been evolving into home entertainment hubs for films, television, music, social networking and more.

However, the once-mighty gaming firms are struggling to retain market share as they fend off a challenge from cheap - or sometimes free - downloadable games for smartphones and tablets.

- AFP/de

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Australia-bound Myanmar boat rescued: Sri Lanka police

COLOMBO: A boatload of Myanmar nationals rescued from a sinking wooden craft off Sri Lanka's east coast after two months at sea had been trying to reach Australia, local police said on Sunday.

The boatpeople, plucked to safety by Sri Lanka's navy on Saturday, were taken Sunday to the southern port of Galle where they were rushed to hospital to be treated for dehydration and starvation, police said in a statement.

It said 32 people were rescued, although initial reports from naval units had suggested there were 38.

A spokesman for Myanmar's embassy in Colombo said they were waiting to speak with the boatpeople before deciding on a course of action.

"We have been told of 32 people rescued and we are waiting to speak to them," embassy spokesman Aung Soe Moe told AFP.

Sri Lankan police said the rescued boat people claimed they were in a group of 130 who were put out to sea in three boats just over two months ago with the intention of reaching Australia. The fate of the others was not known.

Saturday's rescue was the second in less than two weeks.

On February 3, the navy rescued 138 Bangladeshi and Myanmar nationals from a sinking boat. One passenger was found dead.

Local police officials said it was unclear if those identified as Myanmar nationals were Rohingya -- members of a stateless minority described by the UN as one of the world's most persecuted groups -- who had fled the country.

An explosion of tensions between Rohinya and ethnic Rakhine communities in Myanmar's western state of Rakhine since June 2012 has triggered a seaborne exodus of Rohingya.

Thailand's navy blocked more than 200 Rohingya boatpeople from entering the kingdom late last month as part of a new policy under which they will be given food and water but barred from landing if their boat is seaworthy.

- AFP/xq

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Former MM Lee Kuan Yew hospitalised

SINGAPORE: Former Minister Mentor Lee Kuan Yew was admitted to Singapore General Hospital on Saturday after experiencing a suspected transient ischaemic attack associated with a prolonged episode of atrial fibrillation, or irregular heartbeat.

A statement from the Prime Minister's office said Mr Lee has recovered but will remain warded for a few days for the doctors to adjust his medication and for observation.

A transient ischaemic attack happens when blood flow to a part of the brain stops for a brief period of time.

The patient will have stroke-like symptoms, which clear in less than 24 hours.

- CNA/xq

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Singapore stocks close mixed

SINGAPORE : Stocks in Singapore ended mixed on Friday amid concerns over the eurozone economy.

The Straits Times Index declined 7.40 points to 0.22 per cent to close at 3,283.07.

Volume was 6.98 billion shares.

In the broader market, gainers led losers 272 to 209.

Among banks, OCBC fell 0.4 per cent to S$9.99, UOB was down 0.26 per cent at S$19.32, while DBS lost 0.1 per cent to end at S$15.00.

Olam International ended 1.5 per cent lower at S$1.64, Noble Group slipped 1.2 per cent to S$1.19, while Wilmar International slid 1.1 per cent to S$3.66.

STX OSV rose 3.6 per cent to S$1.285.

- CNA/ms

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Eurozone recession deepens in Q4

BRUSSELS: The recession in the 17-nation eurozone recession deepened sharply in the fourth quarter of 2012, with the economy shrinking by 0.6 percent from the previous quarter when it dropped 0.1 percent, official data showed on Thursday.

In the second quarter of 2012, the eurozone economy had contracted 0.2 percent on a sequential basis, meaning the recession has now lasted three quarters as the debt crisis has sapped growth and sent unemployment soaring.

Compared with output in the fourth quarter of 2011, the eurozone economy contracted 0.9 percent, according to Eurostat agency figures.

For the wider 27-member European Union, output fell 0.5 percent compared with third quarter 2012 when the bloc had eked out growth of just 0.1 percent to narrowly avoid being in recession, as defined as two consecutive quarterly negative figures.

Compared with fourth quarter 2011, the EU economy shrank 0.6 percent.

Eurostat said that for 2012 as a whole, the eurozone economy contracted 0.5 percent and the EU 0.3 percent.

- AFP/al

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UK police arrest six in new phone hacking probe

LONDON: British police arrested six current or former journalists on Wednesday in a new probe into alleged phone hacking at Rupert Murdoch's now-closed News of the World tabloid, Scotland Yard said.

Investigators had identified a "further suspected conspiracy" by staff at the paper in 2005 and 2006 which was separate to the alleged hacking under which a number of people have been charged, it said in a statement.

The News of the World closed in disgrace in 2011 amid allegations that it had hacked the mobile phone voicemails of hundreds of celebrities, politicians and victims of crime and terrorism.

"Detectives on Operation Weeting have identified a further suspected conspiracy to intercept telephone voicemails by a number of employees who worked for the now defunct News of the World newspaper," the statement said.

"As part of the new lines of inquiry six people were arrested this morning on suspicion of conspiracy to intercept telephone communications... All of them are journalists or former journalists."

Police arrested three men aged 46, 39 and 45 and two women aged 33 and 40 in London, and a 39-year-old woman in Cheshire, northwest England, and were questioning them at various police stations, the statement said.

Searches were also under way at a number of addresses.

"In due course officers will be making contact with people they believe have been victims of the suspected voicemail interceptions," the statement said.

British media reported that two of those arrested now work for Murdoch's daily tabloid The Sun.

Those already facing trial over hacking at the News of the World include British Prime Minister David Cameron's ex-spokesman Andy Coulson and Rebekah Brooks, the former head of Murdoch's British newspaper wing.

Operation Weeting was launched in January 2011 to investigate a string of allegations over hacking at the weekly News of the World, which was Britain's biggest selling newspaper.

-AFP/fl

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Catholic world in shock after pope resigns

VATICAN CITY: The Catholic Church faced a tricky transition on Tuesday as it prepared to elect a new pope, with many faithful still reeling from the shock resignation of Pope Benedict XVI.

The 85-year-old Benedict told a group of cardinals in a speech in Latin on Monday that he will step down on February 28 because he could no longer fulfil his duties in a fast-changing world -- the first pope to resign of his own free will in more than 700 years.

A report in Italian daily Il Sole 24 Ore said his decision may have been for health reasons.

The newspaper said Benedict underwent heart surgery less than three months ago to replace his pacemaker -- an operation that was kept out of the public eye.

While the surgery went well, the report quoted advisors as saying that it made the pope reflect on whether he could continue to guide the Church.

The Vatican has emphasised that the momentous decision was not due to any specific illness and said the pope will retire to a monastery building inside the Vatican -- creating an unprecedented situation in which the new pope and his predecessor will live in the same place.

The rumour mill over who could be the next pope was in full swing within hours of the pontiff's speech but no clear favourites have emerged yet.

Benedict's next scheduled appearance is on Wednesday at around 0930 GMT, when he is to hold an audience with hundreds of faithful in the Vatican.

He will later celebrate mass in St Peter's basilica at 1600 GMT for Ash Wednesday -- the start of the period of Lent before Easter for Christians.

The mass had been due to be held in the much smaller church of Santa Sabina in Rome but plans have been changed at the last-minute.

Only a few advisors knew of the pope's plan and many in the Vatican hierarchy were caught off guard, with Cardinal Angelo Sodano saying it was "like a lightning bolt in a clear blue sky."

Within hours, a lightning bolt did strike the very tip of the dome of St. Peter's Basilica, an eerie image captured by AFP photographer Filippo Monteforte.

Sodano embraced the pope following the momentous announcement, after which the pope returned to his rooms in the Vatican's Apostolic Palace and broke down in tears, Italian daily La Stampa reported.

"He could not hold back the emotion any more," the report said, adding that the pope had taken his decision after suffering a fall during a trip to Mexico and Cuba last year that was not made public.

Several observers said Benedict wanted to avoid the fate of his predecessor and mentor, John Paul II, who suffered a long and debilitating illness.

Ordinary faithful among the world's 1.1 billion Catholics were stunned by the decision.

"An historic, unexpected and humble announcement," read a headline in Avvenire, the official newspaper of the Italian bishops' conference.

Some faithful said the move was a courageous act that would breathe new life into a Roman Catholic Church struggling with multiple crises and could possibly set a precedent for ageing popes.

"This signals the end of the tradition of popes for life. It is an example and a suggestion for future popes," said Marco Politi, a biographer of Benedict and columnist for Il Fatto Quotidiano daily.

Others expressed dismay that a leader whose election by the Church's cardinals is believed to be divinely inspired could simply decide to quit.

World leaders said they respected the decision and generally praised his pontificate, particularly for his efforts to promote inter-religious dialogue.

The pope's eight-year rule -- one of the shortest in the Church's modern history -- also earned him plenty of enemies, however, from the gay community and AIDS activists to the many shocked by the abuses of paedophile priests and multiple cover-ups.

An academic theologian and the author of numerous tomes, including a trilogy on the life of Jesus Christ, the pope was often seen as somewhat distant from the day-to-day running of the Church.

Still he tried hard to reach out to a younger, global audience -- including by opening a Twitter account just before Christmas with the handle "Pontifex" ("Pontiff" in Latin).

The Vatican said the ex-pope would initially stay at the papal summer residence of Castel Gandolfo while his new home is being renovated.

Only one other pope has resigned in the Church's 2,000-year history -- Celestine V in 1294 -- a humble hermit who stepped down after just a few months saying he could no longer bear the intrigue of Rome and was not able to fulfil his duties.

In 1415, Gregory XII was forced out as part of a deal to end the "Western Schism", when two rival claimants declared themselves pope and threatened to tear apart Roman Catholicism.

Speculation over who could be the next pope was already rife in Rome, although even seasoned observers cautioned that predictions of future popes are notoriously unreliable.

The field appears wide open, with some saying the papacy could return to an Italian for the first time since 1978, others saying it could go to a North American candidate and still others saying Africa or Asia could yield the next pope.

Several analysts said the fact that the pope was resigning precisely because of his advancing age could favour the choice of a relatively young pope.

The Vatican has said it expects a new pope to be in place in time for Easter, which falls on March 31 this year, although the decision is ultimately up to the cardinals meeting in a secret conclave.

They send a signal of black smoke each day until a decision is taken with a two-thirds majority.

White smoke is then put out from the Vatican palace when a candidate has been approved.

The new pope is then presented to cheering crowds in St Peter's Square with the famous Latin cry: "Habemus Papam!" ("We have a pope!).

-AFP/ac

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Aero India Show attracts over 700 exhibitors from 27 countries

NEW DELHI : Global armament companies were in for a bit of disappointment at the Aero India Show, with India's defence minister warning of budget cuts this year.

Military spending will reportedly go down by about US$2 billion.

Many firms had been hoping to secure multi-billion dollar deals at the Aero India Show, which ended on Sunday.

One of Asia's biggest air shows, the Aero India Show showcased the latest in aerospace, defence and civil aviation, attracting more than 700 exhibitors from 27 countries.

But for armament companies, their trip to Bangalore was to pitch for multi-billion dollar contracts from the world's biggest weapons importer.

A K Antony, India's Defence Minister, said: "There are big opportunities for major international aerospace companies to enter into new alliances and forge partnerships with the Indian industry and set up bases in India."

Makers of Unmanned Aerial Vehicles (UAVs) were at the show.

They are hoping that India would add more surveillance drones to its existing fleet, used mainly to monitor Maoist rebels.

Dale McDowall, director of business development and strategy at Insitu Pacific, said: "In fact, we have achieved more than 675,000 operating hours around the world. Of course, that includes predominantly the operations that occurred in the last decade in Iraq and Afghanistan.

"However, we have other nations around the world, throughout the Asia-Pacific and elsewhere that are operating the UAVs."

The five-day show concluded on Sunday with a spectacular aerobatics display by the Russian Knights.

Another highlight at the show was the Rafale fighter jet from Dassault Aviation.

India wants to buy 126 of them and has yet to finalise the US$10 billion deal with its French makers.

The deal has been put on "highest priority" in India's budget for the upcoming financial year.

N A K Browne, chief of the Indian Air Force, said: "It is not directed against China...It is for every body. We need to have a strong and potent airpower capability in the country, to meet any of the threats or any of the challenges."

The Indian Army also received its first indigenously-developed attack helicopter.

The Rudra is an Advanced Light Helicopter, equipped with state-of-the art weaponry and self-defence systems.

The border rivalry with Pakistan and China has prompted New Delhi to go on a billion-dollar shopping spree to update its ageing military hardware. According to Stockholm International Peace Research Institute, India received 9 per cent of global arms transfers from 2006 to 2010, making it the world's largest importer of weapons.

- CNA/ms

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