GIC names Lim Chow Kiat as new group CIO






SINGAPORE: The Government of Singapore Investment Corporation (GIC) has named Lim Chow Kiat as its next group chief investment officer, effective 1 February 2013.

GIC said in a statement on Friday that Mr Lim will succeed Mr Ng Kok Song who is retiring.

Mr Lim, 42, is currently GIC's deputy group chief investment officer. He joined the sovereign wealth fund in 1993 after graduating with first class honours in accountancy from Nanyang Technological University.

He was appointed head of GIC's Fixed Income, Currency and Commodities Department, as well as deputy president of GIC Asset Management (GAM) in 2008.

He became president of GAM in July 2011 and deputy group CIO in April 2012.

- CNA/al



Read More..

1 pilot, 3 airhostesses found drunk since Christmas

NEW DELHI: The fear of losing their flying licence led to pilots celebrating Yuletide and ushering in the New Year on a sober note this year. Authorities caught only one pilot — but three airhostesses — reporting to work in an inebriated state during breathalyser (BA) tests done at airports from Christmas to Wednesday.

All four flight personnel were from Jet Airways. "We have a zero tolerance policy for this issue and carry out strict BA tests. Whoever fails the tests is, as per DGCA guidelines, suspended for three months," said aJet spokesperson.

A DGCA official said two flight crew members failed the BA test in Chennai and one each in Delhi and Kochi. "The punishment is very severe now for pilots failing BA tests as their licence is suspended for three months when caught first time and for five years for the second time. This means end of flying career as a five-year suspension will lead to all eligibilities lapsing," he added.

Read More..

CDC: 1 in 24 admit nodding off while driving


NEW YORK (AP) — This could give you nightmares: 1 in 24 U.S. adults say they recently fell asleep while driving.


And health officials behind the study think the number is probably higher. That's because some people don't realize it when they nod off for a second or two behind the wheel.


"If I'm on the road, I'd be a little worried about the other drivers," said the study's lead author, Anne Wheaton of the Centers for Disease Control and Prevention.


In the CDC study released Thursday, about 4 percent of U.S. adults said they nodded off or fell asleep at least once while driving in the previous month. Some earlier studies reached a similar conclusion, but the CDC telephone survey of 147,000 adults was far larger. It was conducted in 19 states and the District of Columbia in 2009 and 2010.


CDC researchers found drowsy driving was more common in men, people ages 25 to 34, those who averaged less than six hours of sleep each night, and — for some unexplained reason — Texans.


Wheaton said it's possible the Texas survey sample included larger numbers of sleep-deprived young adults or apnea-suffering overweight people.


Most of the CDC findings are not surprising to those who study this problem.


"A lot of people are getting insufficient sleep," said Dr. Gregory Belenky, director of Washington State University's Sleep and Performance Research Center in Spokane.


The government estimates that about 3 percent of fatal traffic crashes involve drowsy drivers, but other estimates have put that number as high as 33 percent.


Warning signs of drowsy driving: Feeling very tired, not remembering the last mile or two, or drifting onto rumble strips on the side of the road. That signals a driver should get off the road and rest, Wheaton said.


Even a brief moment nodding off can be extremely dangerous, she noted. At 60 mph, a single second translates to speeding along for 88 feet — the length of two school buses.


To prevent drowsy driving, health officials recommend getting 7 to 9 hours of sleep each night, treating any sleep disorders and not drinking alcohol before getting behind the wheel.


__


Online:


CDC report: http://www.cdc.gov/mmwr


Read More..

Ex-USC Player: Painkiller Injections Caused Heart Attack













Despite stated label risks of possible fatal heart attack, stroke or organ failure, college football players across the country are still being given injections of a powerful painkiller on game days so they can play while injured, an ABC News investigation has found.


The drug, a generic version of Toradol, is recommended for the short-term treatment of post-operative pain in hospitals but has increasingly been used in college and professional sports, and its use is not monitored by the NCAA, the governing body of college sports.


Only two of the country's top football programs, Oklahoma and the University of Nebraska, reported to ABC News that they have limited or stopped the use of the drug in the wake of growing concern about its risks.


Which Top-Ranked College Football Teams Use Toradol?


Oklahoma said it stopped using the painkillers in 2012 after using them repeatedly in 2010 and 2011.


Nebraska said its doctors now restrict its use.


SEND TIPS About Painkiller Use in College Sports to Our Tipline


"While team physicians reserve the option to use injectable Toradol, it is rarely prescribed, and its use has been avoided this season following reports of heightened concern of potential adverse effects," Nebraska said in a statement to ABC News.






Stephen Dunn/Getty Images











Despite Risks, College Football Still Uses Powerful Painkiller Watch Video





The top two college football programs, Notre Dame and Alabama, refused to answer questions from ABC News about the painkiller. They play for the national college championship on Jan. 7.


Controversy surrounding the drug has grown this year following claims by former USC lineman Armond Armstead that he suffered a heart attack after the 2010 season, at age 20, following shots of generic Toradol administered over the course of the season by the team doctor and USC personnel.


"I thought, you know, can't be me, you know? This doesn't happen to kids like me," Armstead told ABC News.


The manufacturers' warning label for generic Toradol (ketorolac tromethamine) says the drug is not intended for prolonged periods or for chronic pain and cites gastrointestinal bleeding and kidney failure as possible side effects of the drug.


In addition, like other drugs in its class, the generic Toradol label warns "may cause an increased risk of serious cardiovascular thrombotic events, myocardial infarction (heart attack), and stroke, which can be fatal."


"This risk may increase with duration of use," the so-called black box warning reads.


In a lawsuit against the school and the doctor, Dr. James Tibone, Armstead claims the school ignored the stated risks of the drug and never told him about them.


"He was a race horse, a prize race horse that needed to be on that field no matter what," said Armstead's mother Christa. "Whether that was a risk to him or not."


Armstead says he and many other USC players would receive injections of what was known only as "the shot" in a specific training room before big games and again at half-time.


"No discussion, just go in. He would give the shot and I would be on my way," Armstead told ABC News.


Armstead said the shot made him feel "super human" despite severe ankle, and later shoulder pain, and that without it, he never could have played in big USC games against Notre Dame and UCLA.


"You can't feel any pain, you just feel amazing," the former star player said.


USC declined to comment on Armstead's claims, or the use of Toradol to treat Trojan players.


An ABC News crew and reporter were ordered off the practice field when they tried to question USC coach Lane Kiffin about the use of the painkiller. USC says the ABC News crew was told to leave because they had not submitted the appropriate paperwork in advance to attend the practice session.






Read More..

Central African Republic rebels halt advance, agree to peace talks


DAMARA, Central African Republic (Reuters) - Rebels in Central African Republic said they had halted their advance on the capital on Wednesday and agreed to start peace talks, averting a clash with regionally backed troops.


The Seleka rebels had pushed to within striking distance of Bangui after a three-week onslaught and threatened to oust President Francois Bozize, accusing him of reneging on a previous peace deal and cracking down on dissidents.


Their announcement on Wednesday gave the leader only a limited reprieve as the fighters told Reuters they might insist on his removal in the negotiations.


"I have asked our forces not to move their positions starting today because we want to enter talks in (Gabon's capital) Libreville for a political solution," said Seleka spokesman Eric Massi, speaking by telephone from Paris.


"I am in discussion with our partners to come up with proposals to end the crisis, but one solution could be a political transition that excludes Bozize," he said.


Bozize on Wednesday sacked his Army Chief of Staff and took over the defense minister's role from his son, Jean Francis Bozize, according to a decree read on national radio, a day after publicly criticizing the military for failing to repel the rebels.


The advance by Seleka, an alliance of mostly northeastern rebel groups, was the latest in a series of revolts in a country at the heart of one of Africa's most turbulent regions - and the most serious since the Chad-backed insurgency that swept Bozize to power in 2003.


Diplomatic sources have said talks organized by central African regional bloc ECCAS could start on January 10. The United States, the European Union and France have called on both sides to negotiate and spare civilians.


Central African Republic is one of the least developed countries in the world despite its deposits of gold, diamonds and other minerals. French nuclear energy group Areva mines the country's Bakouma uranium deposit - France's biggest commercial interest in its former colony.


RELIEF IN BANGUI


News of the rebel halt eased tension in Bangui, where residents had been stockpiling food and water and staying indoors after dark.


"They say they are no longer going to attack Bangui, and that's great news for us," said Jaqueline Loza in the crumbling riverside city.


ECCAS members Chad, Congo Republic, Gabon and Cameroon have sent hundreds of soldiers to reinforce CAR's army after a string of rebel victories since early December.


Gabonese General Jean Felix Akaga, commander of the regional force, said his troops were defending the town of Damara, 75 km (45 miles) north of Bangui and close to the rebel front.


"Damara is a red line not to be crossed ... Damara is in our control and Bangui is secure," he told Reuters. "If the rebellion decides to approach Damara, they know they will encounter a force that will react."


Soldiers armed with Kalashnikovs, rocket propelled grenade launchers and truck-mounted machineguns had taken up positions across the town, which was otherwise nearly-abandoned.


Some of the fighters wore turbans that covered their faces and had charms strung around their necks and arms meant to protect them against enemy bullets.


Chad's President Idriss Deby, one of Bozize's closest allies, had warned the rebels the regional force would confront them if they approached the town.


Chad provided training and equipment to the rebellion that brought Bozize to power by ousting then-president Ange Felix Patasse, who Chad accused of supporting Chadian dissidents.


Chad is also keen to keep a lid on instability in the territory close to its main oil export pipeline and has stepped in to defend Bozize against insurgents in the past.


A CAR government minister told Reuters the foreign troop presence strengthened Bozize's bargaining position ahead of the Libreville peace talks.


"The rebels are now in a position of weakness," the minister said, asking not to be named. "They should therefore stop imposing conditions like the departure of the president."


Central African Republic is one of a number of countries in the region where U.S. Special Forces are helping local soldiers track down the Lord's Resistance Army, a rebel group which has killed thousands of civilians across four nations.


France has a 600-strong force in CAR to defend about 1,200 of its citizens who live there.


Paris used air strikes to defend Bozize against a rebellion in 2006. But French President Francois Hollande turned down a request for more help, saying the days of intervening in other countries' affairs were over.


(Additional reporting by Paul-Marin Ngoupana in Bangui and Jon Herskovitz in Johannesburg; Writing by Richard Valdmanis; Editing by Andrew Heavens and Janet Lawrence)



Read More..

Creative industry in China on the rise






SHANGHAI: The creative industry is becoming a new growth area of the Chinese economy.

As one of the cities boasting the fastest growth in this sector, Shanghai's municipal government is injecting another US$32 million to further support its development.

Located in one of Shanghai's creative industry parks, KRT is a young local design firm. It is known for doing detailed work that showcases its customers' unique character.

From a three-member team redesigning apartment bathrooms, it now has 20 employees and focuses on high-end residential design and construction projects in the millions of dollars.

Kevin Hsu, design director of KRT Architecture & Interior Design Co., said: "In the past few years, we moved up from doing designs for small projects to big ones for really high-end customers. We don't need to do as many projects as we used to. Instead, we only need five to 10 projects a year to achieve the same amount of growth and profit as before."

Located five minutes away is Adopted -- formed only four months ago. It makes phone accessories which are sold by Apple.

Its small size did not stand in the way of a collaboration with the tech giant.

David Watkins, founder of Adopted, said: "Pretty much the entire team has a lot of experience working for building products for the Apple's retail eco-system. And as a small company, we are able to react and be a lot more nimble than a lot of larger companies."

According to CCID Consulting, China's largest consulting firm, the value of the creative industry in China exceeded US$172 billion in 2011, and the average annual growth rate was more than 26 per cent over the past five years.

This growth can be attributed to the higher value placed on the industry amid the realisation that China needs to move beyond just manufacturing.

In recent years, China's central and local governments have launched various plans to support the industry -- including encouraging schools to set up creative industry departments, and giving subsidies and tax relief to companies in this sector.

For example, Shanghai has just injected another US$32 million into the industry, which will be used to grow the industry, including training more local talents and attracting overseas talents to come to Shanghai.

The total value of the sector in China is expected to reach US$331 billion by 2014 - almost double its current value.

-CNA/ac



Read More..

Brain image study: Fructose may spur overeating


This is your brain on sugar — for real. Scientists have used imaging tests to show for the first time that fructose, a sugar that saturates the American diet, can trigger brain changes that may lead to overeating.


After drinking a fructose beverage, the brain doesn't register the feeling of being full as it does when simple glucose is consumed, researchers found.


It's a small study and does not prove that fructose or its relative, high-fructose corn syrup, can cause obesity, but experts say it adds evidence they may play a role. These sugars often are added to processed foods and beverages, and consumption has risen dramatically since the 1970s along with obesity. A third of U.S. children and teens and more than two-thirds of adults are obese or overweight.


All sugars are not equal — even though they contain the same amount of calories — because they are metabolized differently in the body. Table sugar is sucrose, which is half fructose, half glucose. High-fructose corn syrup is 55 percent fructose and 45 percent glucose. Some nutrition experts say this sweetener may pose special risks, but others and the industry reject that claim. And doctors say we eat too much sugar in all forms.


For the study, scientists used magnetic resonance imaging, or MRI, scans to track blood flow in the brain in 20 young, normal-weight people before and after they had drinks containing glucose or fructose in two sessions several weeks apart.


Scans showed that drinking glucose "turns off or suppresses the activity of areas of the brain that are critical for reward and desire for food," said one study leader, Yale University endocrinologist Dr. Robert Sherwin. With fructose, "we don't see those changes," he said. "As a result, the desire to eat continues — it isn't turned off."


What's convincing, said Dr. Jonathan Purnell, an endocrinologist at Oregon Health & Science University, is that the imaging results mirrored how hungry the people said they felt, as well as what earlier studies found in animals.


"It implies that fructose, at least with regards to promoting food intake and weight gain, is a bad actor compared to glucose," said Purnell. He wrote a commentary that appears with the federally funded study in Wednesday's Journal of the American Medical Association.


Researchers now are testing obese people to see if they react the same way to fructose and glucose as the normal-weight people in this study did.


What to do? Cook more at home and limit processed foods containing fructose and high-fructose corn syrup, Purnell suggested. "Try to avoid the sugar-sweetened beverages. It doesn't mean you can't ever have them," but control their size and how often they are consumed, he said.


A second study in the journal suggests that only severe obesity carries a high death risk — and that a few extra pounds might even provide a survival advantage. However, independent experts say the methods are too flawed to make those claims.


The study comes from a federal researcher who drew controversy in 2005 with a report that found thin and normal-weight people had a slightly higher risk of death than those who were overweight. Many experts criticized that work, saying the researcher — Katherine Flegal of the Centers for Disease Control and Prevention — painted a misleading picture by including smokers and people with health problems ranging from cancer to heart disease. Those people tend to weigh less and therefore make pudgy people look healthy by comparison.


Flegal's new analysis bolsters her original one, by assessing nearly 100 other studies covering almost 2.9 million people around the world. She again concludes that very obese people had the highest risk of death but that overweight people had a 6 percent lower mortality rate than thinner people. She also concludes that mildly obese people had a death risk similar to that of normal-weight people.


Critics again have focused on her methods. This time, she included people too thin to fit what some consider to be normal weight, which could have taken in people emaciated by cancer or other diseases, as well as smokers with elevated risks of heart disease and cancer.


"Some portion of those thin people are actually sick, and sick people tend to die sooner," said Donald Berry, a biostatistician at the University of Texas MD Anderson Cancer Center in Houston.


The problems created by the study's inclusion of smokers and people with pre-existing illness "cannot be ignored," said Susan Gapstur, vice president of epidemiology for the American Cancer Society.


A third critic, Dr. Walter Willett of the Harvard School of Public Health, was blunter: "This is an even greater pile of rubbish" than the 2005 study, he said. Willett and others have done research since the 2005 study that found higher death risks from being overweight or obese.


Flegal defended her work. She noted that she used standard categories for weight classes. She said statistical adjustments were made for smokers, who were included to give a more real-world sample. She also said study participants were not in hospitals or hospices, making it unlikely that large numbers of sick people skewed the results.


"We still have to learn about obesity, including how best to measure it," Flegal's boss, CDC Director Dr. Thomas Frieden, said in a written statement. "However, it's clear that being obese is not healthy - it increases the risk of diabetes, heart disease, cancer, and many other health problems. Small, sustainable increases in physical activity and improvements in nutrition can lead to significant health improvements."


___


Online:


Obesity info: http://www.cdc.gov/obesity/data/trends.html


___


Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP


Mike Stobbe can be followed at http://twitter.com/MikeStobbe


Read More..

Tax Deal Done - but How Can Obama Sign It?


Jan 2, 2013 6:29pm







ap obama ac 130102 wblog Vacationing Obamas Options to Sign Fiscal Cliff Deal Include Air Force Jet, Autopen

AP Photo/Charles Dharapak


Congress officially delivered the bill to avert the fiscal cliff to the White House this afternoon, House Speaker John Boehner’s office told ABC News.


Now the question is when will the President sign it?


The bill, passed late on New Year’s Day, expires tomorrow at 11:59 a.m. when the current session of Congress concludes. If President Obama doesn’t sign it by then, constitutionally the bill is dead.


But this evening, eighteen hours before the deadline, the President is on a golf course in Hawaii.  And the bill is in Washington at the White House.


Administration officials won’t say what they will do despite repeated inquiries from ABC News.


There seem to be two options:  1) An Air Force jet can deliver the bill to Hawaii (better leave quickly!) in time for the President to sign it before 11:59 Eastern Standard Time; or, 2) The White House can use a presidential “auto-pen.”


The simple mechanical device uses a template of the presidential signature to scrawl it on paper if activated by the White House at Obama’s direction.


But would an auto-pen – usually used to sign insignificant correspondence and photographs – pass constitutional muster?  We don’t know.  The question has never been tested by the courts.


A 2005 legal study commissioned by former President George W. Bush determined that use of the autopen is constitutional but acknowledged the possibility that its use could be challenged.  Bush never used the autopen, officials from his administration told ABC.


President Obama is only believed to have used the autopen once to sign a piece of major legislation — the 2011 extension of the Patriot Act — which reached his desk while he was on a diplomatic trip to Europe. Officials invoked national security concerns to justify the move.


Use of the autopen has been controversial.  Conservative groups alleged last summer that Obama used an autopen to sign condolence letters to the families of Navy SEALs killed in a Chinook crash in Afghanistan — a charge the White House disputed flatly as false.


In 2004, then-Secretary of Defense Donald Rumsfeld was criticized for using an autopen to sign condolence letters to the families of fallen troops.


And in 1992 then-Vice President Dan Quayle even got into some hot water over his use of the autopen on official correspondence during an appearance on “This Week with David Brinkley.” More HERE.


ABC News’ Ann Compton and Devin Dwyer contributed reporting.



SHOWS: World News







Read More..

At least 61 crushed to death in Ivory Coast stampede


ABIDJAN (Reuters) - At least 61 people were crushed to death in a stampede after a New Year's Eve fireworks display at a stadium in Ivory Coast's main city Abidjan early on Tuesday, officials said.


Witnesses said police had tried to control crowds around the Felix Houphouet-Boigny Stadium following the celebrations, triggering a panic in which scores were trampled.


"The estimate we can give right now is 49 people hospitalized ... and 61 people dead," said the chief of staff of Abidjan's fire department Issa Sacko.


Crying women searched for missing family members outside the stadium on Tuesday morning. The area was covered in patches of dried blood and abandoned shoes.


"My two children came here yesterday. I told them not to come but they didn't listen. They came when I was sleeping. What will I do?" said Assetou Toure, a cleaner.


Sanata Zoure, a market vendor injured in the incident, said New Year's revelers going home after watching the fireworks had been stopped by police near the stadium.


"We were walking with our children and we came upon barricades, and people started falling into each other. We were trampled with our children," she said.


Another witness said police arrived to control the crowd after a mob began chasing a pickpocket.


President Alassane Ouattara called the deaths a national tragedy and said an investigation was under way to find out what happened.


"I hope that we can determine what caused this drama so that we can ensure it never happens again," he said after visiting the injured in hospital.


The country, once a stable economic hub for West Africa, is struggling to recover from a 2011 civil war in which more than 3,000 people were killed.


Ivory Coast's security forces once were among the best trained in the region, but a decade of political turmoil and the 2011 war has left them in disarray.


At least 18 people were killed in another stampede during a football match in an Abidjan stadium in 2009.


(Reporting by Loucoumane Coulibaly and Alain Amontchi; Writing by Richard Valdmanis; Editing by Michael Roddy)



Read More..

New path for mid-career professionals to join accounting industry






SINGAPORE: Mid-career professionals in Singapore without accounting work experience or accounting-related qualifications can now be hired and trained as accounts or audit professionals.

This has been made possible by a new pilot programme, a result of a partnership between NTUC's Employment and Employability Institute (e2i) and professional accounting body CPA Australia.

Under the programme, e2i will provide participating employers training allowances and subsidise up to 70 per cent of course fees for successful candidates. Employers that hire candidates for professional accounting roles under this programme can apply for training support of up to S$8,450 per eligible employee.

Employers will commit to offer jobs to successful candidates on a permanent and full-time basis.

The candidates will also have starting salaries of at least S$2,000, and receive a basic salary increase of at least 15 per cent when they complete the programme.

During their training, candidates will enrol in the CPA Programme Foundation Level course, which will equip them with the necessary basic accounting knowledge. It also provides them with a direct pathway to advance to the Professional Level course, which will confer the globally-recognised CPA Australia professional accounting designation.

Candidates will also undergo six months of on-the-job training with participating employers.

Mr Gilbert Tan, acting CEO of e2i, said: "e2i creates employment and employability solutions for PMEs interested in developing their careers. This Place-and-Train programme for accounts and audit professionals was initiated to help address the manpower needs of the accounting sector, as well as provide a way for locals to tap into accounting or audit-related job opportunities."

Mr Melvin Yong, Singapore General Manager of CPA Australia, said: "As Singapore positions itself to become a global accountancy hub, this partnership between CPA Australia and e2i will provide an ideal doorway for those in mid-careers looking for an opportunity to join the accounting profession.

"For employers, this is a potential avenue to recruit experienced staff amidst Singapore's current tight labour market."

The programme is part of the labour movement's continuous outreach to professionals in the financial and business services cluster.

-CNA/ac



Read More..