Weekend MEGA news (8 Augest 2009) Saturday
Train accident at KTM railway,Singapore
2 dead
A young couple died after they were knocked down by a train at the KTM railway track near Upper Bukit Timah Road early Saturday morning.
19—year—old Goh Sheng Yao and 20—year—old Lee Jing Yu, both Republic Polytechnic students, were pronounced dead by paramedics at the scene at about 6.00am.
It is believed that the train driver had signalled to both of them to move away from the track, but they failed to do so.
The train was heading towards Malaysia and was not carrying any passengers at the time of the accident. Train services were disrupted for nearly two hours before resuming at around 7.40am.
Police have classified the case as unnatural death and investigations are underway. Witnesses with information on the case can contact the police at 1800—255—0000.
19—year—old Goh Sheng Yao and 20—year—old Lee Jing Yu, both Republic Polytechnic students, were pronounced dead by paramedics at the scene at about 6.00am.
It is believed that the train driver had signalled to both of them to move away from the track, but they failed to do so.
The train was heading towards Malaysia and was not carrying any passengers at the time of the accident. Train services were disrupted for nearly two hours before resuming at around 7.40am.
Police have classified the case as unnatural death and investigations are underway. Witnesses with information on the case can contact the police at 1800—255—0000.
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Prime Minister Lee calls for unity to face challenges ahead
Singapore’s economy contracted by 6.5 per cent in the first half of this year. In his annual televised National Day message on Saturday evening, Prime Minister Lee Hsien Loong said the country is now in a stronger position than at the start of the year.
As long as Singaporeans remain united in facing the challenges ahead, he believes the country will pull through.
While Singapore could not avoid the global economic storm, Mr Lee said the country took proactive action such as bringing the Budget forward and drawing on past reserves for schemes like Jobs Credit.
Now, with the global economic situation stabilising, the country’s economy has bounced back strongly in the second quarter. Despite being among the worst—hit economies, it still has one of the lowest unemployment rates in the world.
"But it’s too early to celebrate. The outlook remains clouded. The advanced economies aren’t expected to bounce back soon. Our exports remain much lower than last year, and companies like SIA are still facing very tough conditions. We might see another wave of retrenchments later in the year, so we must stay on guard for more challenges to come," said the prime minister.
Despite this adverse external environment, Mr Lee said this does not mean Singapore cannot grow. Businesses and workers are beginning to adjust to the new environment by looking for new opportunities and going for re—training.
He said opportunities still exist, especially in Asia. In fact, the Economic Strategies Committee — in collaboration with the private sector — is now looking for new ways to transform the economy, with its report due next year.
While the current difficulties look daunting, Mr Lee said they should be seen against a longer perspective.
"Over this half century, Singapore has encountered many serious challenges — racial riots in the 60s, oil shocks in the 70s, a major recession in the 80s, the Asian Crisis in the 90s, the 9/11 attacks and SARS in this decade. Each time our people have rallied and prevailed," he said.
"This unity is key to our success in many fields. We must work hard to strengthen it, and to bridge potential divides within our society, be it between Singaporeans and new arrivals, between rich and poor, or most fundamental of all, between the different races and religions."
Looking ahead, he called on Singaporeans to respect each other’s beliefs and enlarge the secular common space.
The full speech and video of PM Lee’s National Day message are available in the National Day 2009 special report.
As long as Singaporeans remain united in facing the challenges ahead, he believes the country will pull through.
While Singapore could not avoid the global economic storm, Mr Lee said the country took proactive action such as bringing the Budget forward and drawing on past reserves for schemes like Jobs Credit.
Now, with the global economic situation stabilising, the country’s economy has bounced back strongly in the second quarter. Despite being among the worst—hit economies, it still has one of the lowest unemployment rates in the world.
"But it’s too early to celebrate. The outlook remains clouded. The advanced economies aren’t expected to bounce back soon. Our exports remain much lower than last year, and companies like SIA are still facing very tough conditions. We might see another wave of retrenchments later in the year, so we must stay on guard for more challenges to come," said the prime minister.
Despite this adverse external environment, Mr Lee said this does not mean Singapore cannot grow. Businesses and workers are beginning to adjust to the new environment by looking for new opportunities and going for re—training.
He said opportunities still exist, especially in Asia. In fact, the Economic Strategies Committee — in collaboration with the private sector — is now looking for new ways to transform the economy, with its report due next year.
While the current difficulties look daunting, Mr Lee said they should be seen against a longer perspective.
"Over this half century, Singapore has encountered many serious challenges — racial riots in the 60s, oil shocks in the 70s, a major recession in the 80s, the Asian Crisis in the 90s, the 9/11 attacks and SARS in this decade. Each time our people have rallied and prevailed," he said.
"This unity is key to our success in many fields. We must work hard to strengthen it, and to bridge potential divides within our society, be it between Singaporeans and new arrivals, between rich and poor, or most fundamental of all, between the different races and religions."
Looking ahead, he called on Singaporeans to respect each other’s beliefs and enlarge the secular common space.
The full speech and video of PM Lee’s National Day message are available in the National Day 2009 special report.
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One dead, eight missing as Typhoon Morakot hits Taiwan
TAIPEI (AFP) - - One person was killed and eight were missing feared dead in Taiwan as Typhoon Morakot lashed the island with powerful winds and downpours, rescuers and officials said Saturday.
Morakot had dumped 2,000 millimetres (78 inches) of rain on southern Pingtung county as of Saturday night, flooding at least three coastal townships, the government said.
Evening papers said it was the county's worst flooding in 50 years, citing Pingtung's magistrate Tsao Chi-hung, while his deputy Chung Chia-pin said at least 10,000 people were trapped in flooded areas.
"We have put all our manpower and resources into the rescue work to gradually evacuate those who are trapped. We need more help," Chung told ETTV.
More than 1,500 rescuers and soldiers continued to battle the bad weather in Pingtung to evacuate people to safety and deliver supplies by boats, the authorities said.
Television footage showed torrential downpours had submerged houses and streets in Pingtung, cutting off electricity and phone services.
"The flood started this morning and the water is over two stories high in most places," said a policeman from Chiatung township, one of the worst-hit areas.
In southern Kaohsiung city, a woman died after she fell into a ditch when strong winds swept her off her motorcycle, said the National Fire Agency.
It also said four fishermen and four people who had fallen into rivers were unaccounted for while nineteen people have been injured, but none seriously.
Across Taiwan, some 3,500 people have been evacuated to safety, the agency said.
Taiwan's worst flooding occurred exactly 50 years ago when 667 people were killed as heavy rains lashed the island for three consecutive days beginning on August 7.
Morakot made landfall around midnight Friday in eastern Hualien county, unleashing powerful winds that swayed high-rise buildings, turned over cars and uprooted trees and road signs.
Waves as high as nine metres (30 feet) hit coastal Hualien, reports said, while television footage showed winds had ripped the iron roof off an elementary school in central Changhua county.
The typhoon had caused at least 832 million Taiwan dollars (26 million US) in agricultural damage and temporarily disrupted electricity in more than one million households, officials said.
Taiwan's financial markets, offices and summer schools were shut and most outdoor festivities postponed on Friday while nearly 600 domestic and international flights were cancelled in two days, the authorities said.
The weather bureau has downgraded Morakot to a tropical storm but warned against continuing heavy rains island-wide.
Across from Taiwan, in Fujian, 21,190 people were evacuated to safety and about 34,000 vessels had been recalled to port ahead of the typhoon, according to provincial authorities.
Fujian's meteorological station said Morakot was likely to land on the coastal province Saturday evening or night.
Go to http://sg.news.yahoo.com/afp/20090809/tap-taiwan-china-weather-typhoon-beb1011.html.
Morakot had dumped 2,000 millimetres (78 inches) of rain on southern Pingtung county as of Saturday night, flooding at least three coastal townships, the government said.
Evening papers said it was the county's worst flooding in 50 years, citing Pingtung's magistrate Tsao Chi-hung, while his deputy Chung Chia-pin said at least 10,000 people were trapped in flooded areas.
"We have put all our manpower and resources into the rescue work to gradually evacuate those who are trapped. We need more help," Chung told ETTV.
More than 1,500 rescuers and soldiers continued to battle the bad weather in Pingtung to evacuate people to safety and deliver supplies by boats, the authorities said.
Television footage showed torrential downpours had submerged houses and streets in Pingtung, cutting off electricity and phone services.
"The flood started this morning and the water is over two stories high in most places," said a policeman from Chiatung township, one of the worst-hit areas.
In southern Kaohsiung city, a woman died after she fell into a ditch when strong winds swept her off her motorcycle, said the National Fire Agency.
It also said four fishermen and four people who had fallen into rivers were unaccounted for while nineteen people have been injured, but none seriously.
Across Taiwan, some 3,500 people have been evacuated to safety, the agency said.
Taiwan's worst flooding occurred exactly 50 years ago when 667 people were killed as heavy rains lashed the island for three consecutive days beginning on August 7.
Morakot made landfall around midnight Friday in eastern Hualien county, unleashing powerful winds that swayed high-rise buildings, turned over cars and uprooted trees and road signs.
Waves as high as nine metres (30 feet) hit coastal Hualien, reports said, while television footage showed winds had ripped the iron roof off an elementary school in central Changhua county.
The typhoon had caused at least 832 million Taiwan dollars (26 million US) in agricultural damage and temporarily disrupted electricity in more than one million households, officials said.
Taiwan's financial markets, offices and summer schools were shut and most outdoor festivities postponed on Friday while nearly 600 domestic and international flights were cancelled in two days, the authorities said.
The weather bureau has downgraded Morakot to a tropical storm but warned against continuing heavy rains island-wide.
Across from Taiwan, in Fujian, 21,190 people were evacuated to safety and about 34,000 vessels had been recalled to port ahead of the typhoon, according to provincial authorities.
Fujian's meteorological station said Morakot was likely to land on the coastal province Saturday evening or night.
Go to http://sg.news.yahoo.com/afp/20090809/tap-taiwan-china-weather-typhoon-beb1011.html.
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News Corp. dives into annual loss of US$3.4b
WASHINGTON: Global media giant News Corporation said Wednesday it ended its business year with a net loss of US$3.4 billion due to hefty charges of US$9.2 billion. The sprawling US media empire headed by Rupert Murdoch had posted a net profit of US$5.4 billion a year earlier. The swing into loss was driven by US$8.9 billion in charges for new acquisitions, notably Dow Jones, the parent of The Wall Street Journal, which mostly had been previously announced. The company also said it took US$312 million in charges, principally for restructuring activities. Adjusted operating income fell to US$3.6 billion in the 2009 fiscal year ended June 30 from a record US$5.3 billion a year ago, the company said in a statement. That was in line with the company's guidance over the past six months, Murdoch, chairman and chief executive of News Corp., said in the statement. News Corp. reported a net loss per share of US$1.29. But calculated by another accounting method favoured by analysts for forecasting, the company had earnings per share of US$1.16, double the 66 cents expected. Murdoch said the past year had been "the most difficult in recent history" as the company confronted a weak economic environment amid the worst global recession in decades. "We streamlined all our businesses and continue to do so, at the same time adjusting to the revolutionary changes taking place throughout the media industry," the Australian-born US magnate said. Murdoch said that restructuring measures had positioned the company to reap the benefits of a recovery from the global recession when it materialises. "We have strengthened all our franchises and are particularly well-placed for the coming recovery," he said. "I am certain that News Corporation is poised to profit, and deliver strong returns, as the economy rebounds." Annual revenue slipped eight per cent, to US$30.4 billion from US$33 billion in the 2008 fiscal year. In the final quarter, News Corp. lost US$203 million, compared with net profit of US$1.1 billion in the same period a year ago. Fourth-quarter earnings per share were 19 cents, slightly better than the 18 cents expected. The quarterly results were impacted by a US$180-million charge for the buyouts of 700 employees. In a conference call with analysts, Murdoch said the company's diverse businesses recently have shown signs of life. "The worst may be behind us," he said. The company's chief financial officer, David DeVoe, noted that the economic crisis had not begun to hurt News Corp. until the end of 2008. The current first quarter could prove "fairly challenging" in comparison with the 2008 July-September period, DeVoe said. Murdoch said that July had been "very good," with some signs of recovery in the international advertising markets, but that the company expected "very tough months ahead." Earlier Wednesday, News Corp. announced it had increased its stake in ailing German pay-television network Sky Deutschland, the new name for Premiere, to 39.96 per cent from 30.5 per cent. The company did not disclose financial terms of the transaction or provide other details in its brief statement, notably its impact on profitability. The loss-making network has never recovered from the 2005 loss of exclusive transmission rights to German first-division football matches. In the conference call, Murdoch reaffirmed his support for a pay model for Internet access. He noted that The Wall Street Journal had been the only US newspaper to increase its subscriber base, on paper and online, during the recession. The company announced the financial results after the New York stock market close. In electronic trading, shares were down 0.49 per cent at US$12.21.
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Today is Singapore's 44th year old birthday
Happy birthday Singapore!
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