SGX to review listing rules to protect retail investors of troubled firms






SINGAPORE: The Singapore Exchange (SGX) is looking at reviewing listing rules to better protect retail investors of troubled firms.

This was revealed in a letter to the Securities Investors Association (Singapore) (SIAS) from SGX deputy chief regulatory officer Richard Teng.

SGX was responding to SIAS' earlier proposals to safeguard investors of foreign issuers on the SGX.

The exchange said SIAS' proposals have been discussed and considered by its newly formed working committee to review the SGX listing rules.

Among the committee's proposals are to give SGX legal powers to appoint special auditors or other professionals to help or investigate troubled companies.

It added that there could also be a requirement that imposes a minimum notice period before board directors of listed companies can effectively resign.

In the meantime, SIAS said retail investors who own shares from foreign companies continue to face risks in recover their investments "should the untoward happen to any of the foreign issuers."

In a separate announcement, SGX said that it has formed a working committee to conduct a comprehensive review of the listing manual to enhance the robustness, efficacy and relevance of the listing framework in Singapore.

The new committee comprised capital market stakeholders, including representatives from the SGX, Association of Banks in Singapore, Singapore Institute of Directors, law firms, accounting firms and company secretarial firms.

The committee has commenced its review to identify areas of possible enhancements to strengthen Singapore's attractiveness as a capital market.

- CNA/fa



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Apple pulls Mac Pro from online stores in Europe



Apple's Mac Pro

Apple's Mac Pro



(Credit:
Apple)


Consumers in Europe looking for a Mac Pro are now out of luck, at least when trying to buy one online.


Apple's online stores in the U.K., Italy, Germany, France, and other European countries show all three editions of the
Mac Pro as "currently unavailable."


The news isn't exactly a surprise. Apple told European retailers and distributors last month that it would stop selling the Mac Pro come March 1 due to new safety regulations. The regulations impose certain electrical requirements, and the Mac Pro's ports and fans aren't in compliance.




The regulations affect 27 different countries in the European union. Apple did have until March 1 to curtail sales of the Mac Pro across Europe, so it's not clear why the company jumped the gun a bit early. The new safety regulations affect only Europe, so the Mac Pro is still available at Apple's online stores in the U.S, Japan, and other non-European countries.


The Mac Pro is the only Apple product that runs afoul of the new safety regulations. Beyond a couple of minor changes last year, Apple hasn't updated the Mac Pro in more than two years. Last June, Apple CEO Tim Cook teased an update for the high-powered desktop in 2013, saying that we're "working on something really great for later next year.".


Apple could even have a Mac Pro refresh in store sooner than later. Earlier this month, two online publications in France reported that a French reseller received word from Apple that a new Mac Pro lineup would debut this spring.


CNET contacted Apple for comment and will update the story if the company responds.


(Via 9to5Mac)


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Obama to push Congress for budget cuts deal




Play Video


Federal budget faces severe sequestration cuts



As the clock ticks on the automatic spending cuts set to kick in on March 1, President Obama will hold an event this morning to urge Congress to come up with an alternative plan to avert the cuts.

The White House says Mr. Obama will emphasize the potential negative effects of the so-called sequester - the $1.2 trillion over 10 years in cuts - by standing with first responders, people who the White House says will be directly affected by the cuts.

The president "will be joined at the White House by emergency responders - the kinds of working Americans whose jobs are on the line if Congressional Republicans fail to compromise on a balanced solution," a White House official said in a statement.

"The President will challenge Republicans to make a very simple choice: do they protect investments in education, health care and national defense or do they continue to prioritize and protect tax loopholes that benefit the very few at the expense of middle and working class Americans?" the official continued.

The $1.2 trillion sequester cuts, which were initially set to kick in on Jan. 1, emerged out of Congress' 2011 budget negotiations. Congress agreed that if a congressional "supercommittee" couldn't come up with an acceptable deficit reduction plan, Congress would just slash $1.2 trillion from the budget over 10 years -- half coming from defense spending and half from non-defense. The cuts were designed to be so drastic that Republicans and Democrats would be compelled to craft an alternate, bipartisan agreement on deficit reduction.

Ten days out, however, no single substitute plan exists and lawmakers are on a week's recess until next Monday.

Economists agree the steep, across-the-board cuts would slow the economy. The White House recently laid out the ways the sequester would hurt the middle class, from slashing education programs to small business loan guarantees. Taking $1.2 trillion out of the economy would put close to a million jobs at risk, the nonpartisan Congressional Budget Office has estimated.




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Obama "doing everything he can" to stop sequester, says McDonough



The president and his chief of staff Denis McDonough have publicly prodded Congress multiple times since Mr. Obama's State of the Union address last Tuesday, emphasizing education, manufacturing, and immigration reform as the keys to growth. In his weekly address over the weekend, Mr. Obama lobbied for his "balanced approach" to deficit reduction that would combine "responsible reforms" on health care spending and taxes to stabilize our finances.

The president contrasted his approach with Republicans, who have proposed "even bigger cuts to things like education and job training, Medicare and Social Security benefits."

"That won't work," Mr. Obama said. "We can't just cut our way to prosperity."

Meantime, McDonough said the president hasn't "given up" on coming up with an alternative to avert the current set of cuts and he's doing "everything he can to not let this happen." In his State of the Union address last week, McDonough said, the president laid out what he's prepared to offer to avoid the cuts.

"We're ready to do another trillion-and-a-half to get to the $4 trillion mark that every economist in the country says we need to do to stabilize the debt problem," McDonough said on "Face the Nation" Sunday.

"Now when we think of the kinds of things that we're going to have to invest in, the president has also been very clear that he's ready to take on, as he laid out in the speech, a question like rising health care costs and Medicare."


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'Blade Runner' Denies Intentionally Killing Girlfriend












Olympian Oscar Pistorius today denied that he willfully killed his girlfriend, telling a South African court that he shot the woman through his bathroom door because he believed she was an intruder.


Pistorius, 26 and a double-amputee Olympian, was charged today with premeditated murder, or a Schedule 6 offense, which under South African law limits his chances for parole if convicted.


Pistorius, who gained worldwide fame for running on carbon-fiber blades and competing against able-bodied runners at the Olympics, is accused of shooting his girlfriend, Reeva Steenkamp, at his gated home in Pretoria, South Africa, Feb. 14.


PHOTOS: Paralympic Champion Charged in Killing


In a statement read by his lawyer, the runner said he and Steenkamp went to bed together before he was awoken by a noise he thought was an intruder coming from the bathroom.


Filled with a "sense of terror," he removed the 9-mm pistol he kept hidden under his bed and, without putting on his prosthetic legs, began shooting through the bathroom door, according to his statement.


It was only then that he realized Steenkamp was not in bed, he said in the statement. Fearing she was inside the bathroom, he says, he broke down the door using a cricket bat and carried the woman outside, where he called for help, and she soon died.








Oscar Pistorius: Was Shooting Premeditated? Watch Video









Conflicting Theories Muddle Oscar Pistorius Murder Case Watch Video









Oscar Pistorius Allegedly Fought the Night of Shooting Watch Video





Pistorius appeared in court today for the first time since his Valentine's Day arrest, as prosecutors laid out their case, insisting that the runner could not have mistaken his girlfriend for an intruder.


"[Pistorius] shot and killed an innocent woman," Gerrie Nel, the senior state prosecutor, said in court, adding that there is "no possible explanation to support" the notion that Pistorius thought Steenkamp was an intruder.


Police responding to neighbors' calls about shouting and gunshots at Pistorius' home in the guarded and gated complex in the South African capital discovered Steenkamp's body. A 9-mm pistol was recovered at the home.


Prosecutors said Steenkamp had arrived at the house with the expectation of spending the night with Pistorius. They said that Steenkamp was shot while in the bathroom, which is about 21 feet from the main bedroom, and that the two rooms are linked by a passage. The door to the toilet was broken down from the outside, prosecutors said, implying that the bathroom door had been locked.


Prosecutors believe it's a case of premeditated murder because, they say, Pistorius had to stop, put on his prosthetic legs, grab a gun and then walk 21 feet to a bathroom.


The premeditated murder charge means that he would likely be sentenced to life in prison if convicted, and that he is likely to be denied bail, which is expected to be decided later today.


South Africa has moved away from the jury system, in light of its brutally racist past, so Pistorius' fate will rest in the hands of a judge and two magistrates.


The prosecution had said that the defense would no doubt argue for the charge to be downgraded to a Schedule 5 offense, but that was clearly wrong, according to the prosecution.


In a Schedule 5 offense, the onus is on the prosecution to prove that it would be in the interest of justice to keep the accused behind bars and not release him on bail. A Schedule 6 offense is a more serious category, wherein the defense has to prove that it would be in the interest of justice to release the accused person on bail.





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Venezuela's Maduro would win if Chavez goes: poll


CARACAS (Reuters) - Venezuelan Vice President Nicolas Maduro would comfortably win a presidential election should his boss Hugo Chavez's cancer force him out of power, according to an opinion poll.


The first survey on such a scenario, by local pollster Hinterlaces, gave Maduro a potential 50 percent of votes, compared to 36 percent for opposition leader Henrique Capriles.


Chavez returned to Venezuela on Monday after a long stay in Cuba to continue treatment at home for the disease that is jeopardizing his 14-year socialist rule of the South American OPEC nation.


He has named 50-year-old former bus driver and union activist Maduro as his preferred successor. But Capriles, 40, a center-left state governor who lost to Chavez in a presidential vote last year, would likely run again.


Chavez still has not said a word in public since his December 11 operation in Cuba, and Venezuelans were debating on Tuesday the various possible scenarios after his homecoming - from full recovery, to resignation, or even death from the cancer.


Should Chavez be forced out, Venezuela's constitution stipulates an election must be held within 30 days.


Capriles, who crossed swords with Hinterlaces at various points during the presidential election, again mocked its director, Oscar Schemel, as being biased against him.


"That man is not a pollster, he's on the government's payroll," Capriles told local TV.


"He said in December I would lose the Miranda governorship," he added, referring to his defeat of government heavyweight Elias Jaua, now foreign minister, in that local race.


Opinion surveys are notoriously controversial and divergent in Venezuela, with both sides routinely accusing pollsters of being in the pocket of the other.


Hinterlaces surveyed 1,230 people between January 30-February 9.


(Editing by Bill Trott)



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EU agrees new sanctions against North Korea after nuclear test






BRUSSELS: The European Union agreed a raft of new sanctions on Monday against North Korea in retaliation for the country's nuclear test last week, EU officials said.

The measures range from financial measures to travel bans and asset freezes against individuals.

The sanctions include the implementation of individual sanctions approved at UN level as well as EU restrictions on financial dealings and trade sanctions on items potentially linked to Pyonyang's ballistic and nuclear programmes, the source said.

"It is a tough package that aims to mark our opposition to the nuclear test," conducted by Pyonyang on February 12, said a senior EU diplomat who asked not to be named.

The UN Security Council on January 22 ordered expanded sanctions against North Korea, adding its state space agency, a bank, four trading companies and four individuals to an existing UN sanctions list.

- AFP/de



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Get a Logitech Harmony 700 universal remote for $59.99




The Logitech Harmony 700.

The Logitech Harmony 700.



(Credit:
Logitech)


This is an update of a deal I posted last summer.


Juggling is meant for circus folk, not home-theater owners. Yet that's exactly what you're doing if you have more than one device and, ergo, more than one remote.


Regular Cheapskate readers know I'm a fan of Logitech's Harmony series of universal remotes. One of the better models, the 700, has a list price of $119.99 (or used to -- it's been discontinued). Ouch.


For a limited time, and while supplies last, TigerDirect via Ebay has the refurbished Harmony 700 universal remote for $59.99 shipped.


What's so great about the Harmony series? Thanks to Logitech's wizard-driven software, they're significantly easier to program than most universal remotes. Just choose your gear from a mammoth database and presto: you're good to go. They're also blissfully user-friendly, with guided onscreen help in case one component didn't turn on or switch modes or something.


The Harmony 700 features a color LCD, a rechargeable battery (though not a charging dock), and support for up to six devices.


The user reviews on this model average four stars out of five at , both at Amazon's product page.


And CNET editor John P. Falcone gave it four stars out of five in his full review of the remote. You can see his First Look video below.


Because this is a refurb, the warranty expires after 90 days. (That's a guess: Although the duration isn't specified in the Ebay listing, TigerDirect lists a 90-day warranty on its own product page for the same remote.) For what it's worth, I've had the same Harmony One for over four years, and it's humming along just fine. If you're still juggling multiple remotes, I think you'll find this is $60 very well spent.


Bonus deal: Another good rerun: Staples has the Kindle Fire HD 8.9" Wi-Fi tablet for $269 shipped (plus sales tax where applicable). That's $30 off the regular price, making it a match for the similarly sized Barnes & Noble Nook HD+. I like the latter a teensy bit better, but for $269 for an 8.9-inch
tablet, you win either way.



Deals found on The Cheapskate are subject to availability, expiration, and other terms determined by sellers.


Curious about what exactly The Cheapskate does and how it works? Read our FAQ.


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Hugo Chavez returns to Venezuela

Venezuelan President Hugo Chavez with his daughters, Maria Gabriela, left, and Rosa Virginia as he holds a Feb. 14, 2013 copy of Cuba's state newspaper at an unknown location in Havana, Cuba, Feb. 14, 2013. / AP/Venezuelan government

CARACAS, Venezuela Venezuelan President Hugo Chavez returned home to Venezuela early Monday after more than two months of medical treatment in Cuba following cancer surgery.

Chavez announced his return in a series of message on his Twitter account, saying "we will continue our treatment here."

They were the first messages to appear on Chavez's Twitter account since Nov. 1.

"I'm clinging to Christ and trusting in my doctors and nurses," Chavez said in another tweet. "Onward toward victory always!! We will live and we will triumph!!"

Vice President Nicolas Maduro said on television that Chavez at arrived at 2:30 a.m.

Chavez's office published photos on Friday of the president in bed in Cuba during a visit by his daughters. They were the first proof that the Venezuelan leader is still alive, and they were published amid increasing rumors and speculation regarding his health.

Information Minister Ernesto Villegas said Friday that Chavez was breathing through a tracheal tube that makes it difficult for him to speak. Government opponents have been demanding more information about Chavez's condition, and have been asking why he hasn't spoken to the nation to explain his condition.

Medical experts consulted by The Associated Press have said the government's recent account of "systemic medical treatment" could mean various types of chemotherapy or drug treatments, depending on the type of cancer.

The 58-year-old president has been undergoing cancer treatment in Cuba on-and-off since June 2011. He has had tumors removed from his pelvic region, and has also undergone prior rounds of chemotherapy and radiation treatment.

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Country Singer Mindy McCready Dead at 37












Mindy McCready, the country singer who soared to the top of the charts with her debut album, "Ten Thousand Angels," but struggled with substance abuse, served time in jail and fought a lengthy battle with her mother over custody of her son has died of what appears to be a self-inflicted gunshot wound, police said. She was 37.


Deputies from the Cleburne County Sheriff's Office were dispatched to a report of gun shots fired at McCready's Heber Springs, Ark., home at around 3:30 p.m. today.


There they found McCready on the front porch. She was pronounced dead at the scene from what appeared to be a single self-inflicted gunshot wound, according to a statement from the sheriff's office.


PHOTOS: In Memoriam 2013


McCready's boyfriend, David Wilson, died in January of a self-inflicted gunshot wound. McCready was ordered to enter rehab shortly after Wilson's death, and her two children, Zander, 6, and 9-month-old Zayne were taken from her. She was released after one day to undergo outpatient care.


McCready scored a number-one Billboard country hit in 1996 with "Guys Do It All the Time," but in recent years, the country crooner has received more media attention for her troubled personal life than her music.


She has been arrested multiple times on drug charges and probation violations and has been hospitalized for overdoses several times, including in 2010, when she was found unconscious at her mother's home after taking a painkiller and muscle relaxant.






Angela Weiss/Getty Images











Country Singer Mindy McCready Dead at Age 37 Watch Video









Mindy McCready Details Moment Cops Found Her, Son Watch Video







RELATED: Mindy McCready: Police Take Son


Her mother, Gayle Inge, was appointed to be her son Zander's legal guardian in 2007 after McCready was arrested for violating probation on a drug-related charge. The boy's father is McCready's ex-boyfriend Billy McKnight.


Following a custody hearing in May 2011, McCready released a statement, saying, "We have progressed in a positive manner to reunite me and my son, Zander. I feel very optimistic this will happen in the near future."


But just six months later, in November 2011, was accused of violating a court order for failing to bring Zander back to her mother in Florida after a visit. The boy was placed in foster care while McCready and her mother worked out the custody dispute.


McCready's struggle with substance abuse was broadcast in 2010 on the third season of "Celebrity Rehab with Dr. Drew."


McCready also claimed to have carried on a decade-long affair with baseball star Roger Clemens that began was she was 15 years old and he was 28. Clemens denied that the relationship was sexual in nature.


"You know what, I don't think I'm ever going to be one of those people that has a normal, quiet existence," McCready told ABC Radio in 2010. "I've been chosen for some reason to be bigger and larger than life in every way. Negative and positive."


McCready, who was born and raised in southern Florida, moved to Nashville when she was 18 to start her music career.


Within a few months, she was starting to work with producer David Malloy, who got her tapes to RLG Records. The company signed her to a contract after seeing her in concert, giving her a record deal less than a year after her arrival in Nashville.


Her debut album, "Ten Thousand Angels," went gold within six months of its release in April 1996, and eventually went multi-platinum. Two more followed: "If I Don't Stay the Night," in 1997; and "I'm Not So Tough" in 1999.


Her most recent album, "I'm Still Here," featuring new versions of her early hits "Ten Thousand Angels" and "Guys Do It All the Time," was released in March 2010.



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Time to refer Syrian war crimes to ICC, UN inquiry says


GENEVA (Reuters) - United Nations investigators said on Monday that Syrian leaders they had identified as suspected war criminals should face the International Criminal Court (ICC).


The investigators urged the U.N. Security Council to "act urgently to ensure accountability" for violations, including murder and torture, committed by both sides in a conflict that has killed an estimated 70,000 people since a revolt against President Bashar al-Assad began in March, 2011.


"Now really it's time...We have a permanent court, the International Criminal Court, who would be ready to take this case," Carla del Ponte, a former ICC chief prosecutor who joined the U.N. team in September, told a news briefing in Geneva.


The inquiry, led by Brazilian Paulo Pinheiro, is tracing the chain of command to establish criminal responsibility.


"Of course we were able to identify high-level perpetrators," del Ponte said, adding that these were people "in command responsibility...deciding, organizing, planning and aiding and abetting the commission of crimes".


She said it was urgent for the Hague-based war crimes tribunal to take up cases of very high officials, but did not identify them, in line with the inquiry's practice.


Del Ponte, who brought former Yugoslav President Slobodan Milosevic to the ICC on war crimes charges, said the ICC prosecutor would need to deepen the investigation on Syria before an indictment could be prepared.


Pinheiro, noting that the Security Council would have to refer Syria's case to the ICC, said: "We are in very close dialogue with all the five permanent members and with all the members of the Security Council, but we don't have the key that will open the path to cooperation inside the Security Council."


Karen Konig AbuZayd, an American member of the U.N. team, told Reuters it had information pointing to "people who have given instructions and are responsible for government policy, people who are in the leadership of the military, for example".


The inquiry's third list of suspects, building on lists drawn up in the past year, remains secret. It will be entrusted to U.N. High Commissioner for Human Rights, Navi Pillay, upon expiry of its mandate at the end of March, the report said.


Pinheiro said the investigators would not speak publicly about "numbers, names or levels" of suspects, adding that it was vital to pursue accountability for international crimes "to counter the pervasive sense of impunity" in Syria.


FIGHT AGAINST IMPUNITY


The investigators' latest report, covering the six months to mid-January, was based on 445 interviews conducted abroad with victims and witnesses, as they have not been allowed into Syria.


"The ICC is the appropriate institution for the fight against impunity in Syria. As an established, broadly supported structure, it could immediately initiate investigations against authors of serious crimes in Syria," the 131-page report said.


Pillay, a former ICC judge, said on Saturday Assad should be probed for war crimes, and called for outside action on Syria, including possible military intervention.


Government forces have carried out shelling and air strikes across Syria including Aleppo, Damascus, Deraa, Homs and Idlib, the U.N. report said, citing corroborating satellite images.


"In some incidents, such as in the assault on Harak, indiscriminate shelling was followed by ground operations during which government forces perpetrated mass killing," it said, referring to a town in the southern province of Deraa where residents told them that 500 civilians were killed in August.


"Government forces and affiliated militias have committed extra-judicial executions, breaching international human rights law. This conduct also constitutes the war crime of murder. Where murder was committed as part of a widespread or systematic attack against a civilian population, with knowledge of that attack, it is a crime against humanity," the U.N. report said.


Those forces have targeted bakery queues and funeral processions to spread "terror among the civilian population".


"Syrian armed forces have implemented a strategy that uses shelling and sniper fire to kill, maim, wound and terrorize the civilian inhabitants of areas that have fallen under anti-government armed group control," the report said.


Government forces had used cluster bombs, it said, but it found no credible evidence of either side using chemical arms.


Rebels fighting to topple Assad have also committed war crimes including murder, torture, hostage-taking and using children under age 15 in hostilities, the U.N. report said.


"They continue to endanger the civilian population by positioning military objectives inside civilian areas" and rebel snipers had caused "considerable civilian casualties", it said.


"The violations and abuses committed by anti-government armed groups did not, however, reach the intensity and scale of those committed by government forces and affiliated militia."


Foreign fighters, many of them from Libya, Tunisia, Saudi Arabia, Lebanon, Iraq and Egypt, have radicalized the rebels and helped detonate deadly improvised explosive devices, it said.


(Reporting by Stephanie Nebehay; Editing by Alistair Lyon)



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