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☆ Airbus nears compromise deal after Emirates jet order row
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Airbus A350-1000 seen in the aerial display during the media preview of the Singapore Airshow in Singapore, February 13, 2022. Industry sources said the two sides were trying to secure a compromise deal involving a switch from the A350-1000, Airbus' largest twin-engined jet which has fallen under the spotlight over the amount of downtime needed in Gulf conditions. Rolls-Royce acknowledged its engine for the A350-1000 would need more servicing than Emirates would like, but denied Clark's suggestion that the engine was "defective". However, it would still leave questions over its ability to compete with Boeing's 777X in the busy Gulf wide-body market, they added. Reporting by Tim Hepher, Alexander Cornwell and Pesha Magid; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Caroline Chia, planemaker, Tim Clark, Tim Hepher, Alexander Cornwell, Pesha, Jan Harvey Organizations: Airbus, Singapore, REUTERS, Rights, Emirates, Royce, Dubai Airshow, Dubai, Boeing, Thomson Locations: Singapore, Rights DUBAI, Dubai, U.S

☆ Singapore Airlines posts record half-year profit as air travel demand soars
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

A Singapore Airlines plane is seen among the planes in the static display at the Singapore Airshow in Singapore, February 16, 2022. "The robust demand for air travel continued into the Northern Summer travel season, led by the rebound in passenger traffic to North Asia with the full reopening of China, Hong Kong SAR, Japan, and Taiwan," the airline said in a statement. Singapore Airlines and its budget arm, Scoot, carried around 17.4 million passengers during the half-year, an increase of 52.3% year-on-year. The firm also intends to redeem 50% of the zero-coupon mandatory convertible bonds (MCBs) that it issued in June 2021 to support its balance sheet amid an almost total shutdown of air travel during the pandemic. ($1 = 1.3543 Singapore dollars)Reporting by Rishav Chatterjee and Nausheen Thusoo in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Caroline Chia, Rishav Chatterjee, Nausheen, Janane Organizations: Singapore Airlines, Singapore, REUTERS, Companies, India, Air India, India's Tata Group, Thomson Locations: Singapore, Asia, North Asia, China , Hong Kong SAR, Japan, Taiwan, Bengaluru

☆ Norris calls for harsher penalties for impeding
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

Norris, a good friend of Verstappen, said the Dutch driver should certainly have been penalised for impeding AlphaTauri's Yuki Tsunoda. "It should just be harsher penalties for blocking people, because so many people do it. Verstappen told reporters separately that every case was different. He was cleared entirely of impeding Williams' Logan Sargeant after the American told stewards he did not believe the champion was at fault. And it's happened a lot this season, it's happened to me quite a few times, especially with certain teams," said Norris.

Persons: McLaren's Lando Norris, Caroline Chia, Red, Max Verstappen, Norris, Verstappen, AlphaTauri's Yuki Tsunoda, You've, Yuki, Williams, Logan Sargeant, Alan Baldwin, Alexander Smith Organizations: Singapore, Circuit, Singapore Grand Prix REUTERS, Stewards, Bull, Thomson Locations: Singapore, Japan, Dutch, London

☆ Lance Stroll: Formula One driver suffers huge crash during Singapore GP qualifying
▼ + stars: | 2023-09-17 | by ( Aimee Lewis | ) edition.cnn.com time to read: +1 min

CNN —Formula One driver Lance Stroll will miss Sunday’s Singapore Grand Prix after the Canadian suffered a huge crash in Saturday’s qualifying, his Aston Martin team said. In a statement on Sunday, the team said the 24-year-old was “still sore” and that repairing the car was a “huge job.”Lance Stroll crashes during the qualifying. “Our priority now is that he makes a full and speedy recovery. Stroll is ninth in the drivers’ championship. The Japanese Grand Prix takes place on September 24.

Persons: Lance, Aston Martin, ”, Mohd Rasfan, Mike Krack, ” Lance, Caroline Chia Organizations: CNN, Singapore, Prix, Canadian, Getty Locations: AFP

☆ 'Smooth operator' Sainz ends Red Bull's winning streak
▼ + stars: | 2023-09-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

"We nailed the race," said Sainz after his second career win for the Italian team and first since Silverstone last year. The Spaniard eked out his hard tyres for 42 laps, winning at the slowest possible speed, for Ferrari's first victory since Charles Leclerc triumphed in Austria in July last year. No team has ever won every race in a season of more than 10 rounds but Red Bull had looked capable of doing so until Singapore struck. Mercedes trimmed Red Bull's lead in the constructors' standings to 308 points, keeping them waiting at least another weekend for the title. Verstappen, who started on the hard tyres, moved up to second with Perez fourth but they were soon overhauled and plunged down the field after stopping under normal conditions.

Persons: Ferrari's Carlos Sainz Jr, Mercedes, Lewis Hamilton, Caroline Chia, Sainz, Red, Norris, Perez, Carlos Sainz, Max Verstappen's, McLaren's Lando Norris, Red Bull, George Russell, Hamilton, Lando, eked, Ferrari's, Charles Leclerc, Verstappen, Sergio Perez, LAWSON, Aston Martin's Fernando Alonso, Leclerc, Pierre Gasly, Oscar Piastri, Liam Lawson, Daniel Ricciardo, Kevin Magnussen, Haas, Logan Sargeant's Williams, Alpine's Esteban Ocon, Russell, Carlos, Alan Baldwin, Ken Ferris Organizations: Singapore, Circuit, Prix, Lewis Hamilton REUTERS, Hamilton, Ferrari, DRS, Silverstone, Alpine, McLaren, New, Formula One, Ferraris, Thomson Locations: Singapore, SINGAPORE, Italy, Austria, Monaco, Japan, AlphaTauri, London

[1/2] Admiral John C. Aquilino, Commander of the United States Indo-Pacific Command speaks at the IISS Special Lecture in Singapore March 16, 2023. REUTERS/Caroline Chia/File Photo Acquire Licensing RightsMANILA, Sept 14 (Reuters) - The United States may seek access to more military bases in the Philippines under a joint defence agreement between the two countries, the chief of the U.S. Indo-Pacific command said on Thursday. Admiral John Aquilino said he and the Philippines' military chief, Romeo Brawner, had discussed further expanding the number of bases U.S. forces could access under the Enhanced Defense Cooperation Agreement (EDCA). The United States says it intends to bolster an already strong alliance and improve the defence capability of the Philippines. Aquilino also said the two countries were seeking to complete an agreement on boosting their intelligence sharing.

Persons: John C, Aquilino, Caroline Chia, Admiral John Aquilino, Romeo Brawner, Brawner, there's, Karen Lema, Mikhail Flores, Martin Petty, Gerry Doyle Organizations: Pacific Command, REUTERS, Rights, Enhanced, Thomson Locations: United States, Singapore, Rights MANILA, States, Philippines, U.S, China, Washington, Taiwan

☆ Australia toughens ban on training 'certain foreign militaries' after pilot case
▼ + stars: | 2023-09-14 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

FILE PHOTO: Australian Defence Minister Richard Marles speaks to the media at the 19th Shangri-La Dialogue in Singapore June 12, 2022. A series of cases where former military pilots living in Australia had worked for a South African flight school training Chinese pilots, which the United States alleges are Chinese military pilots, has prompted the crackdown. Penalties of up to 20 years prison will apply for providing military training or tactics to a foreign military or government body, including hybrid civilian and military organisations, or state-owned companies, without authorisation from the defence minister. The Test Flying Academy of South Africa was placed on a U.S. trade blacklist on national security grounds in June for "providing training to Chinese military pilots using Western and NATO sources". A court was told Hartley, a former British military pilot, was suspected of organising the training of Chinese military pilots delivered by the flight school.

Persons: Richard Marles, Caroline Chia, authorises, recenty, Daniel Duggan, Keith Hartley, Hartley, Kirsty Needham, Lincoln, Simon Cameron, Moore Organizations: Australian Defence, REUTERS, Rights, United Nations, Defence, U.S . Marines Corp, Flying Academy of South, TFASA, Australian Federal Police, Thomson Locations: Singapore, Australia, African, United States, Britain, New Zealand, Canada, China, Australian, Flying Academy of South Africa, U.S, AVIC, British

☆ Australia says it will conduct more joint patrols with Philippines in South China Sea
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

The joint exercises, a first for the two nations, come amid renewed tensions between the Philippines and China in the South China Sea. Marcos spoke to journalists after Friday's beach landing drill in Zambales, near the South China Sea, which he watched with binoculars, accompanied by Marles and Philippines Defense Secretary Gilbert Teodoro. At a joint news conference with Teodoro, Marles said the first joint patrols of the South China Sea by the two navies would "happen soon". The Philippines, Malaysia, Vietnam, Brunei and Taiwan have claims to certain areas of the South China Sea. Most of Australia's trade goes through the South China Sea, and upholding international rules is a shared strategic interest with the Philippines, he earlier told ABC radio.

Persons: Richard Marles, Caroline Chia, Ferdinand Marcos Jr, Marcos, Marles, Gilbert Teodoro, Teodoro, Anthony Albanese, Kirsty Needham, Karen Lema, Gerry Doyle Organizations: Australian, REUTERS, Rights, Marines, Philippine Navy, Philippines Defense, ABC, Thomson Locations: Singapore, Australia, South, Philippines, Philippine, Canberra, China, South China, Zambales, Malaysia, Vietnam, Brunei, Taiwan, Southeast Asia, Japan, U.S, Sydney, Manila

The improvement has largely been driven by stronger demand for refined fuels across Asia as economies open up from the COVID-19 pandemic, with China's domestic demand leading the charge. Margins have also been helped by the ability of refiners to pass on higher prices for refined fuels quickly, while still processing crude bought months in advance at lower prices. It's also likely that the strong refining margins in Asia will attract refiners in China and India to maximise exports of fuels such as gasoline and diesel. The profit margins for refined fuels have risen in recent sessions largely because the price of crude oil has dropped more than the prices for refined fuels. Crude prices rallied from July onwards as OPEC+ tightened supply, especially with the producer group's leading exporter Saudi Arabia announcing an additional 1 million barrel per day cut to its production.

Persons: Caroline Chia, It's, Brent, Robert Birsel Organizations: REUTERS, Rights, Brent, Saudi, Reuters, Thomson Locations: Tuas, Singapore, Rights LAUNCESTON, Australia, Asia, Dubai, South Korea, Vietnam, China, India, Refinitiv, Saudi Arabia, OPEC

[1/3] Presidential candidate Tan Kin Lian, speaks to the media and supporters at the nomination centre in Singapore August 22, 2023. About three-quarters of Singapore's 3.5 million citizens are ethnic Chinese, with the rest of the population ethnic Malays, ethnic Indian or Eurasian. Tan was also one of four candidates who ran for president in the 2011 election. Singapore's president sits for a 6-year term. ($1 = 1.3568 Singapore dollars)Reporting by Xinghui Kok, Additional reporting by Chen Lin; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Tan Kin Lian, Caroline Chia, Tharman Shanmugaratnam, Lee Hsien Loong, Ng, Halimah, Tan, Xinghui Kok, Chen Lin, Miral Organizations: REUTERS, Rights, Action Party, Thomson Locations: Singapore

☆ Singapore arrests 10 foreigners, seizes S$1 bln assets in money laundering probe
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Caroline Chia/File Photo Acquire Licensing RightsSINGAPORE, Aug 16 (Reuters) - Singapore police have arrested 10 foreigners for alleged money laundering and forgery offences, in a case involving about S$1 billion ($737 million) of cash, properties, luxury cars and other assets. Other seizures included bank accounts, cash, luxury bags, jewellery, watches, electronic devices and some documents with information on virtual assets. The foreigners were aged between 31 and 44, and their nationalities include Chinese, Turkish, Cypriot, Cambodian and Ni-Vanuatu, Singapore police said. In a separate statement, the Singapore central bank said it has been "in touch with the financial institutions (FIs) where the potentially tainted funds have been identified. ($1 = 1.3572 Singapore dollars)Reporting by Chen Lin in Singapore; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Caroline Chia, Chen Lin, Alison Williams Organizations: REUTERS, Rights, Singapore, Cypriot, FIs, Thomson Locations: Singapore, Vanuatu

☆ Defence officials say wide cooperation key to Indo-Pacific stability
▼ + stars: | 2023-06-03 | by ( Gerry Doyle | ) www.reuters.com time to read: +3 min

[1/3] Japan's Minister of Defence Yasukazu Hamada, Cambodia's Minister of National Defence General Tea Banh and Germany's Minister of Defence Boris Pistorius attend the First Plenary Session of the 20th IISS Shangri-La Dialogue in Singapore June 3, 2023. REUTERS/Caroline ChiaSINGAPORE, June 3 (Reuters) - Cooperation, including among countries outside the region, is crucial to peace and stability in the Indo-Pacific region, defence officials from the Philippines, Britain and Canada said on Saturday at the Shangri-La Dialogue security summit. "Canada has a keen interest in building a region that is stable, that is balanced," said Anita Anand, Canada's defence minister. China's Minister of National Defence Li Shangfu had this week declined an invitation to meet Austin at the security summit. "A cordial handshake over dinner is no substitute for a substantive engagement," Austin said in his remarks earlier on Saturday.

Persons: Defence Yasukazu Hamada, Tea Banh, Defence Boris Pistorius, Caroline Chia SINGAPORE, Defense Lloyd Austin, Anita Anand, Carlito Galvez Jr, Galvez, Anand, Ben Wallace, National Defence Li Shangfu, Austin, Gerry Doyle, Raju Gopalakrishnan Organizations: Japan's, Defence, Cambodia's, National Defence, Germany's, REUTERS, Defense, China's, Austin, Pentagon, Thomson Locations: Singapore, Philippines, Britain, Canada, Philippine, Asia, Russia, U.S

Speaking at the Shangri-La Dialogue, Asia's top security summit, Austin said that open lines of communication between U.S. and Chinese defence and military leaders were essential to avoid conflict and bolster stability in the Asia-Pacific. "The more that we talk, the more that we can avoid the misunderstandings and miscalculations that could lead to crisis or conflict." China's Minister of National Defence Li Shangfu had this week declined an invitation to meet Austin at the security summit. On Friday, the two shook hands on the sidelines of the conference but did not hold detailed talks, the Pentagon said. "(AUKUS) promotes greater stability and security," Austin said.

Persons: Defense Lloyd Austin, Caroline Chia, Austin, Austin Austin, National Defence Li Shangfu, Antony Blinken, Liu Pengyu, General, Lei, Zhao Xiaozhuo, Zhao, Xi Jinping, Joe Biden, Xinghui Kok, Joe Brock, Chen Lin, Gerry Doyle, Kanupriya Kapoor, Greg Torode, Ryan Woo, Idrees Ali, Phil Stewart, Yew, Raju Gopalakrishnan Organizations: Defense, REUTERS, United, People's, National Defence, Austin, Pentagon, Academy of Military Sciences, Global Times, U.S, China's Academy of Military Sciences, Australia, Thomson Locations: Singapore, China, Taiwan, Asia, Pacific SINGAPORE, United States, South China, People's Republic of China, U.S, Washington, TAIWAN, Beijing, Ukraine, Pacific, Australia, Japan, India, Philippines

A source with knowledge of the matter said that Swiss regulators are encouraging UBS and Credit Suisse to merge, but that both banks do not want to do so. Credit Suisse shares jumped 9% in after-market trading following the FT report. Credit Suisse and UBS declined to comment on the report. "Credit Suisse is a very special case," said Frédérique Carrier, head of investment strategy at RBC Wealth Management. The supervisors were told deposits were stable across the euro zone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters.

[1/3] Admiral John C. Aquilino, Commander of the United States Indo-Pacific Command speaks at the IISS Special Lecture in Singapore March 16, 2023. REUTERS/Caroline ChiaSINGAPORE, March 16 (Reuters) - The current friction in the Indo Pacific is alarming and "trending in the wrong direction", but the U.S. presence was not an effort to contain or invite conflict with China, a senior U.S. admiral said on Thursday. Admiral John Aquilino, Commander of the U.S. Indo-Pacific Command, said an "AUKUS" partnership between Australia, Britain and the United States to provide Australia with nuclear-powered submarines was to boost its defence capability. Aquilino said the United States, with its exercises and patrols in the region, was not seeking conflict or to contain China, and would not support Taiwan's independence. "There's a place for China in this world to adhere and follow the rules like all the rest of us do," he said.

☆ China says open to meeting with U.S. defence secretary
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] China's State Councilor and Defence Minister General Wei Fenghe speaks at a plenary session during the 19th Shangri-La Dialogue in Singapore June 12, 2022. REUTERS/Caroline ChiaBEIJING, Nov 20 (Reuters) - China said on Sunday it is open to a meeting with the U.S. defence secretary on the sidelines of a regional security forum in Cambodia this week, in a sign of thawing relations after the countries' top leaders met earlier this month. China Defence Minister Wei Fenghe and U.S. Secretary of Defense Austin Lloyd previously confirmed separately that they would attend the forum with Southeast Asian countries, the ASEAN Defence Ministers' Meeting-Plus. On Sunday, China's defence ministry issued a statement featuring a question about whether the two would meet, with spokesman Tan Kefei quoted as saying, "China holds a proactive and open attitude for exchange with the United States." A meeting would represent the first high-level military exchange between the countries since China halted regular dialogue between military commanders in August in retaliation for U.S. House Speaker Nancy Pelosi's visit to Taiwan.

Helen Wong, Group CEO of OCBC Bank poses for a portrait during an interview with Reuters in Singapore October 10, 2022. And while OCBC earned nearly half of its operating profit from Singapore, Greater China was the next-largest contributor, followed by Malaysia. She added that OCBC benefited from having both a brick-and-mortar and a strong digital footprint. This has increased attention on OCBC, which has the strongest capital position among Singapore banks. Sanford Bernstein analysts said in a report in June that OCBC had S$4.8 billion that could be used for acquisitions without the need to raise capital.

☆ Grab's steady steering offers a smoother ride
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Caroline ChiaHONG KONG, Sept 26 (Reuters Breakingviews) - A rising tide once lifted all of Southeast Asia's technology giants. With a global recession looming and markets in turmoil, their fortunes are starting to diverge. It's a sharp contrast to its $24 billion Singaporean rival Sea (SE.N), which is retrenching globally to achieve financial "self-sufficiency". With shares down over 60% this year, Grab's confident and careful hand at the wheel gives shareholders something to cheer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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