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Taiwan's new president chooses economy expert as premier

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Taiwan’s president-elect Tsai Ing-wen made her first major appointment Tuesday by naming a former economist as premier in a bid to kickstart the island’s flagging fortunes.

Lin Chuan is a former finance minister and will take office on May 20 when Tsai is officially inaugurated after taking a landslide victory over the ruling Kuomintang (KMT) in January.

Among the challenges for Tsai’s China-sceptic Democratic Progressive Party (DPP) will be how to deal with a stagnating economy, which played a major role in the KMT’s defeat.

Many ordinary Taiwanese feel trade pacts signed with Beijing during an eight-year rapprochement under the KMT have failed to benefit them.

Taiwan last month slashed its growth prediction for 2016 from 2.32 per cent to 1.47 per cent after a worse-than-expected 2015 saw the island sink into recession at the end of the year.

Exports slumped 13 per cent year-on-year in January – the longest consecutive period of decline since 2009.

Tsai said Lin, 64, had a “glowing record” as finance chief.

“Lin is a good communicator and familiar with my ideas on how to manage the country. His previous government experience is notable. That’s why I decided to choose him as premier,” Tsai said.

The full lineup of the new cabinet will be decided next month, according to Tsai.

“I would like to give my promise that the cabinet led by Lin will not only be economy-oriented,” she said.

“It will also be a ‘reform cabinet'” dealing with a range of issues from funding for political parties to pensions, she added.

Tsai did not mention ties with China as speculation swirls over how she will address relations with Beijing in her inauguration speech.

Beijing has warned against any move towards a declaration of independence by Taiwan.

The island is self-ruling after splitting with the mainland in 1949 after a civil war, but China considers it part of its territory awaiting reunification, and Taiwan has never formally declared independence.

The DPP is traditionally a pro-independence party, though Tsai has repeatedly promised to maintain the status quo with Beijing.

However, in a speech after her win, she said “suppression” would harm cross-strait ties and emphasised the need for Taiwan to forge an economic path which is not overly dependent on China trade.

The majority of voters in Taiwan want peaceful relations with Beijing but are fiercely protective of the island’s way of life and democracy.

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Tuesday, March 15, 2016 – 14:29
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Myanmar's parliament elects Suu Kyi confidant as president

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NAYPYITAW – Myanmar’s parliament elected a close friend and confidant of Nobel laureate Aung San Suu Kyi as president on Tuesday, making Htin Kyaw the first head of state who does not hail from a military background since the 1960s.

Suu Kyi led her National League for Democracy (NLD) to a landslide election win in November, but a constitution drafted by the former junta bars her from the top office.

She has vowed to run the country anyway through a proxy, and on Thursday the NLD nominated Htin Kyaw for the role.

He runs a charity founded by Suu Kyi and has been a trusted member of her inner circle since the mid-1990s. He is not a lawmaker.

Htin Kyaw received 360 votes of the 652 cast, the parliamentary official counting the votes said on Tuesday.

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Tuesday, March 15, 2016 – 14:10
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Insurers to offer new integrated shield plan from May 1

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SINGAPORE – A new private medical insurance plan that offers identical benefits across insurers for stays in Class B1 wards in public hospitals will be available from May 1.
This Standard Integrated Shield Plan (IP), set up by the Ministry of Health (MOH)…

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Doctor, 82, suspended after selling cough syrup illegally

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SINGAPORE – Three Malaysian gangsters brought a knife, a parang and a bullet into a doctor’s consultation room and demanded that the doctor, then in his late 70s, sell them cough syrup, even though it was against the law.
He eventually sold over 500 litres of…

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With Havana trip, Obama seeks to make history, lock in Cuba opening

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Barack Obama’s historic visit to Havana next week may be the closest he comes to a Nixon-goes-to-China moment, but he also has another more practical goal: to make his opening to Cuba irreversible for the next US president.

The Obama administration hopes that getting more US companies invested in Cuba and loosening up travel to the island will make it almost impossible for traditionally pro-business Republicans to halt or even roll back the thaw in relations if they win the White House in November.

Ahead of his March 20-22 trip to Havana, the stage is set for a further easing of trade restrictions and a string of business announcements from the hotel and telecommunications industries and possibly even Major League Baseball. “The administration wants to do as much as it can unilaterally before the clock runs out,” said a person who has been briefed on Obama’s strategy.

What remains to be seen, however, is whether Obama can prod Cuba’s prickly Communist government to reciprocate at least with modest economic reforms that would help ensure his policy sticks.

Cuba’s leaders have been slow to loosen their grip on the island’s state-run economy. That plus strict limits that remain under the US economic embargo against Cuba has made many American firms wary.

Obama’s critics accuse him of giving up too much in return for too little from Cuban President Raul Castro and now taking a premature “victory lap.” But administration officials says deeper US engagement should not be contingent on concessions from the former Cold War foe, such as improving its human rights record.

Obama and his advisers insist that his outreach to Havana has a better chance of sowing the seeds of eventual change than what they see as a failed US policy of isolation pursued for more than half a century. “This is not a matter of providing concessions,” Obama told CNN en Espanol. “This is a matter of us engaging directly with the Cuban people.” Obama’s visit – the first by a US president in 88 years – is meant to showcase that approach.

But it is also a gamble for a US leader whose strategy of engaging adversaries has had mixed results. Locking in his Cuba opening would make it a major piece of his legacy.

JUMP-START

Obama has relied on executive powers to jump-start the normalisation of ties given continued resistance in Congress to lifting the long-standing US embargo. His challenge is to advance the process to the point that no successor could unravel it.

Cuba has not figured heavily in the 2016 presidential race but it could emerge, especially in Florida, a swing state and home to the largest Cuban-American community. For decades, Cuban-Americans were broadly opposed to any rapprochement but a younger generation has warmed to Obama’s policy shift.

Democratic candidates Hillary Clinton and Bernie Sanders have pledged to stick with Obama’s opening to Cuba if elected.

Republican frontrunner Donald Trump said last week the old policy needed to be changed but he would renegotiate with Cuba for a better deal. His challengers, Ted Cruz and Marco Rubio, both Cuban-Americans, said they would reverse Obama’s approach altogether.

Despite that, Obama told CNN en Espanol he believes Congress will remove the embargo in the next administration, whether Democrat or a Republican – though he acknowledged there were not yet enough votes.

It would be hard for many Republicans to join any effort to overturn Obama’s measures if the White House succeeds in green-lighting enough corporate projects in Cuba, congressional aides said.

AT&T Inc, Starwood Hotels & Resorts Worldwide Inc and Marriott International Inc are expected to sign deals around the time of Obama’s visit.

Most companies remain cautious, however, because of Cuba’s dual-currency system, rigid labour market and opaque legal system. “There are still some frustrations,” said James Williams, president of Engage Cuba, a pro-trade lobbying group. “But they are not insurmountable.” Some of those concerns may be eased if Washington lifts restrictions on using dollars in Cuba trade transactions, a move that one source said could come before Obama’s trip.

US airlines have already rushed to apply for routes to the island, and new travel rules set to be announced this week are expected to make it easier for more Americans to travel to Cuba independently rather than in group tours. That in turn could boost public support for normal relations.

Ben Rhodes, an Obama adviser who helped secure the breakthrough with Cuba in December 2014, said the administration has told Cuban leaders the impact of US regulatory changes will be limited unless they do more to reform their economy.

US officials will pay close attention to Cuba’s Communist Party Congress, set to convene in April for the first time since 2011.

Still, they acknowledge that the prospects remain dim for influencing democratic reform, even though Obama plans to meet dissidents in Havana. “We don’t view our steps as the types of things that would cause the Cuban government to change their political system,”Rhodes told Reuters.

Communist Party newspaper Granma last week said Cuba would not renounce its “revolutionary and anti-imperialist ideals.” Some of Obama’s critics say the visit itself is validation of dictatorial rule. “The only thing that’s changed as a result of this opening is that now the Cuban government has more sources of money from which to build out their repressive apparatus,” Rubio said in a Republican debate last week.

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Tuesday, March 15, 2016 – 13:46
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Sony to buy Michael Jackson's stake in music publishing unit

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Sony Corp said it signed an agreement with Michael Jackson’s estate to buy for US$750 million (S$1 billion) the deceased pop star’s stake in Sony/ATV Music Publishing, the world’s largest music publisher which controls songs such as The Beatles’ “All You Need Is Love.” As part of the agreement, Sony will make a lump sum payment of about US$733 million as well as distributions to the singer’s estate, the company said in a statement on Monday.

The deal establishes Sony’s control over the joint venture that Michael Jackson and Sony formed in 1995. Jackson had bought ATV a decade earlier from Australian businessman Robert Holmes a Court, outbidding Beatles singer Paul McCartney.

In September 2015, Sony exercised a right in its contract with the Jackson estate that allowed one partner to buy out the other. “This acquisition will enable Sony to more quickly adapt to changes in the music publishing business,” Michael Lynton, CEO of Sony Entertainment said in a statement.

Sony/ATV controls many popular songs such as “All You Need Is Love,” “Moon River” and “The Mission Impossible Theme,” as well as representing the copyrights of musicians such as Bob Dylan, Queen and The Rolling Stones.

Sony said in a statement that the company and the singer’s estate expect to execute a definitive agreement by March 31.

In October, the Wall Street Journal reported that Sony was moving ahead with a plan to sell its half of Sony/ATV Music Publishing, and estimated the publisher’s value at around $2 billion.

Boutique investment bank Allen & Co advised Sony on the deal.

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Tuesday, March 15, 2016 – 13:39
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Couple charged with cheating six people of $657,000 by promising personalised talisman

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March 15, 2016 1:38 PM

SINGAPORE – A couple, first charged earlier this month with abetment of c heating a man of $38,800, were slapped with 28 more charges on Tuesday (March 15).



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Singapore private home sales fall 22.8 pct in February

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SINGAPORE, March 15 – Sales of private homes by
developers in Singapore fell 22.8 percent in February from a
year earlier, government data released on Tuesday showed.
The Urban Redevelopment Authority said developers sold 301
units in February, down from 390…

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Beijing expects young pro-democracy "radicals" to become Hong Kong lawmakers: SCMP

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HONG KONG – Beijing accepts that several young pro-democracy “radicals” will be elected to Hong Kong’s law making Legislative Council in September, a Hong Kong newspaper cited a top Chinese official as saying, as tensions in the city over independence remain high.

Beijing refusal grant the former British colony full democracy has embittered a younger generation of activists, which culminated in massive protests in 2014.

And political tensions remain, with a riot in the tough, working-class neighbourhood of Mong Kok in February and strong voter support for an activist leader who placed third in a legislative council by-election in February.

“It will be normal that several radical young people will be returned as lawmakers (in September),” Feng Wei, deputy director of the Hong Kong and Macau Affairs Office in Beijing, told South China Morning Post in an interview.

“Politics is the process of putting theories into practice. Young people participating in politics, including radicals, will gradually mature,” Feng said in the interview, which was seen to be the first interview given to Hong Kong media by a top Beijing official handling Hong Kong’s affairs since the early 1990s.

Hong Kong is set to hold a full legislative council poll later in the year, pitting a pro-democracy camp that now enjoys a slender one-third veto bloc against pro-Beijing and pro-establishment parties.

Feng said the central government was “very concerned” about the rise of radicalism and was analysing the reasons behind the phenomenon.

He said the tendency of resorting to violence was notable in the Mong Kok riot.

“Perhaps in a certain period in future, this is a phenomenon which will merit increasingly more of our attention, though this is something we do not want to see,” Feng added.

Hong Kong, a former British colony that returned to Chinese rule in 1997 under a “one country, two systems” formula that gives it a high degree of autonomy.

Feng said supporters of separatism and independence are a minority who do not represent the mainstream Hong Kong population, and he understands the frustrations of youths amid the city’s sluggish economy growth.

The median income has barely risen in the past two decades, while property prices had surged.

But Feng said Beijing could also improve communications and understanding of Hong Kong people, and needed to learn to express its thoughts in a language Hong Kong people could comprehend and accept.

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Tuesday, March 15, 2016 – 12:42
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