News Today

Indian newspaper war intensifies
NEW DELHI - A PROMINENT media company yesterday launched India's fifth business newspaper, Mint.HT Media's latest offering marks the beginning of a new phase in its circulation war with rival firm Bennett Coleman, which publishes the English-language daily Economic Times.HT Media,... [Read more]

What's cooking? Help for the needy
EIGHT hundred dollars may be a pittance to some, but to widow Madam Lijah Ahamed, 47, this modest salary she gets each month from baking pastries means food on the table for her five children, aged 14 to 21, and being... [Read more]

No longer noted
PHOTO: AFP Mount Everest will replace this picture of King Gyanendra on Nepalese 10 rupee (20 Singapore cents) notes, the country's government said yesterday. King Gyanendra was stripped of nearly all his powers following mass protests last year that ended nearly... [Read more]

Equal prize money for women
LONDON - AFTER years of holding out against equal prize money, Wimbledon bowed to public pressure yesterday and agreed to pay women players as much men. 'Tennis is one of the few sports in which women and men compete in the... [Read more]

British, US kids the worst-off in rich world
Unicef ranks Netherlands best out of 21 nations to be a child LONDON - BRITAIN is the worst country among 21 wealthy nations in which to be a child, closely followed by the United States, according to a study by the... [Read more]

Highest fine, no discount, for big traffic offences
PUTRAJAYA - AFTER months of haggling, the police and the Road Transport Department have finally agreed on a common list of traffic offences.Offences such as speeding, overtaking on double lines, driving in the emergency lane and beating traffic lights will incur... [Read more]

Admiration for ex-chief slowly melted away
THE voice at the other end of the line was one that Mr Michael Lim had not heard for some 20 years.It was Mr Vincent Lam, founder of Youth Challenge - which was being probed by the Commissioner of Charities (COC).He... [Read more]

Brokers' Choice
SIA CONSTRAINED BY A-380 DELAYS: MERRILL MERRILL Lynch says that Singapore Airlines (SIA) is being hurt by its inability to aggressively grow its business due to Airbus A-380 delays. While it expects SIA to remain in the $17 to $18 price... [Read more]

574 Home Team officers receive award
VOLUNTEER police officer Wayne Koo led a team, made up entirely of fellow volunteers, which cracked a metal cables theft case. They planned and carried out an operation that led to the arrest of 12 construction workers for the theft. For... [Read more]

Kirkland still seething over Henry's taunt
LONDON - WIGAN goalkeeper Chris Kirkland was still fuming about his treatment by Arsenal captain Thierry Henry long after his side lost 1-2 on Sunday.Henry had taunted Kirkland after he conceded an own goal.Although the pair exchanged a handshake at the... [Read more]

3 reasons to support Lions
COME to the National Stadium to back the national team against Malaysia tonight.Football Association of Singapore president Ho Peng Kee gave three reasons why: This is the real thing - they are cheering for Singapore, their country, and not some adopted... [Read more]

SEC suspends trading in 35 stocks over spam scam

WASHINGTON - UNITED States stock market regulators suspended trade in 35 small firms on Thursday due to a fraudulent campaign of mass e-mail, or 'spam', that hyped the firms' shares to investors, officials said.

The Securities and Exchange Commission (SEC) said it had acted, issuing its highest number of suspensions ever related to spamming, to protect unsuspecting investors from likely fraud.

'This morning the Securities and Exchange Commission struck a blow for investors and for every American with a computer against one of the worst menaces of the information age,' SEC chairman Christopher Cox told reporters at a news conference.

The suspensions under 'Operation Spamalot' are part of an increased bid by the SEC to aggressively tackle spam e-mail campaigns that tout a company's stock by falsely claiming a major new oil discovery or a new product launch.

Officials said that even SEC staffers had received the widely distributed e-mail, despite spam-blocking software programmes, which they said had netted the perpetrations millions of dollars in ill-gotten gains.

Mr Cox said the SEC was vying to bring those behind the e-mail to account and that the agency was working with foreign regulators as such communications often crossed international borders.

The SEC estimates that some 100 million spam messages touting stocks are e-mailed en masse every week, sometimes triggering dramatic spikes in share prices and trading volumes.

The actions aim to protect investors from potentially fraudulent spam e-mails hyping small stocks. The e-mail seek to dupe investors with phrases like, 'ready to explode', 'ride the bull' and 'fast money', according to the SEC statement.

Some of the 35 small stocks suspended include America Asia Petroleum, Equitable Mining, Koko Petroleum and Biogenerics.

The trading suspensions will last for 10 days. The companies involved are not listed on any US exchange, but are priced by brokers on the Pink Sheets quotation service.

AGENCE FRANCE-PRESSE

Champions League results

Arsenal 1 PSV Eindhoven 1

PSV win 2-1 on aggregate

Manchester United 1 Lille 0

Man United win 2-0 on aggregate

AC Milan 1 Celtic 0 (after extra time)

Milan win 1-0 on aggregate

Bayern Munich 2 Real Madrid 1

Aggregate score 4-4. Bayern advance on away-goals rule.

Champions League quarter-finalists

Chelsea

Liverpool

Valencia

AS Roma

Manchester United

PSV Eindhoven

Bayern Munich

AC Milan

Q-final draw: Live, Ch23, 7pm

Citigroup offer too low, says Nikko's top investor

TOKYO - NIKKO Cordial Corp's biggest shareholder, Harris Associates, dismissed Citigroup's US$10.8 billion (S$16.5 billion) bid for Japan's third-largest brokerage as too low.

Harris Associates, which owns about 7.5 per cent of Nikko, will not accept Citigroup's offer of 1,350 yen a share, Mr David Herro, chief investment officer of international equities at the US$75 billion fund, said.

'It's worth substantially more than that,' said Mr Herro in an interview, adding that Nikko is worth at least 2,000 yen a share. 'We welcome Citigroup's involvement but certainly not at that price.'

Citigroup said on Tuesday that its offer is conditional on getting at least 50.1 per cent of Nikko stock. It may have to raise the price to draw overseas investors, which control about 55 per cent of the company. Nikko's four biggest shareholders are foreign institutions, according to Bloomberg data.

Nikko shares closed 1.27 per cent higher yesterday at 1,357 yen, above Citigroup's offer price.

Nikko's four top shareholders - Harris, Bermuda-based Orbis Investment Management, Southeastern Asset Management and Mackenzie Financial Corp - control about 26 per cent of Nikko, Bloomberg calculations show. Citigroup, whose 4.9 per cent stake makes it Nikko's fifth-largest shareholder, said it is seeking as much as all of the stock. It needs acceptances from owners of at least 45.2 per cent of the shares to win a majority.

BLOOMBERG NEWS

Emirates back as official airline of S'pore Masters

ENGLISH Premier League football fans have become familiar with the Emirates airline in the last few months.

For the new, £390 million (S$1.15 billion) home of famous London club Arsenal is now known as the Emirates Stadium.

But the airline's involvement in sport is not limited just to football.

It is also a keen supporter of golf, sponsoring some eight tournaments worldwide.

This week sees its return as the official airline of the US$1.1 million (S$1.7 million) Clariden Leu Singapore Masters at the Laguna National Golf and Country Club.

Last year was the first time it was the official airline.

The seven other golf competitions it supports are the Dubai Desert Classic, the BMW Asian Open, BMW International Open, the Austrian Open, the New Zealand Open, the Hong Kong Open and the Malaysian Open.

Globally, Emirates spends more than US$80 million annually on sponsorship.

Last year, it was an official partner at football's World Cup Finals in Germany.

That was part of a US$195 million deal that will see the airline featuring at the 2010 and 2014 World Cup Finals as well.

It is also behind horse racing's Dubai World Cup, as well as cricket's ICC Super Series.

In tennis, it also sponsors the Dubai Open, which was won on Saturday by world No 1 Roger Federer, among others.

In Singapore, it has also sponsored the Singapore Golf Circuit back in 1994, horse racing (Emirates Singapore Derby), football (S-League club Home United) and even netball, as a minor sponsor.

This year marks the 20th year of Emirates' active involvement in sports sponsorship.

The airline's involvement in sports began just two years after it began operations in 1985.

The company views sports sponsorship as vital to its marketing strategy.

Said chairman Sheikh Ahmed Saeed Al-Maktoum: 'We believe such sponsorships are one of the best ways to connect with our passengers.

'They allow us to share and support their interests and to build a closer relationship with them.'

Adriano struggles to be fit for Inter

ROME - INTER Milan's Brazilian striker Adriano is battling to be fit in time for today's crucial Champions league last-16 tie away to Valencia.

The first leg at the San Siro ended in a 2-2 draw and Inter must either win or get a higher-scoring draw at the Mestella Stadium to reach the quarter-finals.

Adriano pulled his left hamstring in Wednesday's 1-1 Serie A draw with Udinese.

He missed last Saturday's 2-1 victory at Livorno. The win saw Inter stretch their lead at the top of the table to 16 points.

Hernan Crespo, suspended for the Livorno match, is likely to partner Zlatan Ibrahimovic in attack if Adriano fails to prove his fitness.

Luis Figo, who is set to play in the hole behind the two strikers, believes Valencia start as favourites due to their two away goals.

Said the Portuguese: 'They have bags of experience, they're playing at home and have a small advantage from the first leg.

'Valencia are a team that give you little space and are used to big matches, but all we have to concern ourselves with is getting through to the next round.'

Inter's dynamic French midfielder Patrick Vieira has already been ruled out due to a torn right hamstring.

Argentine midfielder Esteban Cambiasso is struggling to recover from the right-leg injury he picked up in the first leg against the Spaniards.

Olivier Dacourt is expected to replace Vieira as the holding midfielder, flanked by Dejan Stankovic on the right and Javier Zanetti on the left.

Valencia's David Villa is convinced his team will prevail today.

He told tribalfootball.com: 'We'll see if we can produce a great performance.

'Inter's record of 33 games without defeat is spectacular.

'But Valencia also have quality and we must turn the Mestalla into a bunker tomorrow night.

' They know they must score, but I don't expect them to go crazy from the first whistle.

'Hopefully I can score again like I did at the San Siro. But the most important thing is we progress.

'To get to the final eight of the Champions League will be a very proud moment.'

ASSOCIATED PRESS

News Today

McClaren in Becks U-turn?
LONDON - SIX weeks ago, David Beckham was dismissed as a 31-year-old has-been bound for a cushy retirement job in America. Now, he has been resurrected as the man who could rescue England.Even coach Steve McClaren admits he has to consider... [Read more]

Drought-hit Queensland turns to Newater solution
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Anti-US feelings among Muslims 'at record high'
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Reach website now more user-friendly
I THANK Ms Anne Wong Holloway for her letter, 'Solution to cyberspace criticism lies within Reach' (ST, Feb 8).There were some teething problems when Reach, the government feedback portal, revamped the website to complement its new identity. We have resolved many... [Read more]

Jakarta bans sand exports, cutting off S'pore's main supply
JAKARTA - INDONESIA has banned the export of some sand and soil products in what it says are efforts to prevent further damage to its environment and to protect its boundaries.The move would cut off the main supply of land sand... [Read more]

Demand for city-fringe, suburban homes picking up
DEMAND for new homes outside the plush prime districts picked up pace late last year, even though prices there climbed more slowly than in the red-hot central region. This may mean that demand is finally trickling down from the booming luxury... [Read more]

Malay barber?s laudable example of fostering spirit of racial harmony
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Indian minister in Iran to discuss gas, nuclear issue
NEW DELHI - INDIA'S External Affairs Minister Pranab Mukherjee begins a two-day visit to Teheran today, during which he will discuss the multi-billion-dollar India-Pakistan-Iran (IPI) gas pipeline and the nuclear issue. While the worsening situation in Afghanistan and Iraq will also... [Read more]

Beijingers to be warned of harmful haze
BEIJING - RESIDENTS in Beijing will be warned in daily weather forecasts of the presence of haze, one of city's first steps to evaluate its air quality.>From Thursday, the municipal meteorological authorities will include such information on hazy days when humidity... [Read more]

Abramovich will not leave Chelsea
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Spurs beat Blues to teenager Parrett's signature
LONDON - TOTTENHAM have beaten Chelsea to sign one of the most highly-rated youngsters in English football.Dean Parrett, 15, was signed from Queens Park Rangers in a deal that could be worth more than &pound1 million (S$3 million), according to how... [Read more]