Singapore property shares down sharply on cooling measures

SINGAPORE - Shares of major property developers in Singapore were battered Monday after the government introduced new measures at the weekend to cool the real estate market.

By the closing bell, shares of top developers listed on the Singapore Exchange had sunk more than four percent as investors spooked by the measures dumped the stocks.

CapitaLand closed 4.11 percent lower at S$3.73, City Developments fell 7.54 percent to S$11.65 and Keppel Land slumped 7.24 percent to S$3.97.

"We're seeing a knee-jerk reaction to the cooling measures," said Jason Hughes, head of premium client management for IG Markets Singapore.

The new measures, which came into force Saturday, included sharply higher duties on property purchases by foreigners.

Singaporeans' minimum cash downpayments for second or subsequent homes were raised from 10 to 25 percent of a property's value.

But Hughes predicted property stocks would be able to ride out the storm thanks to their overseas portfolios.

"We do have to consider that a number of these guys are regionally focused," he said, adding that the effect would have been more severe if they had been purely local developers.

HSBC Global Research said in a report that Singapore may institute more cooling measures because property demand is expected to remain robust.

"Low interest rates and an expected economic recovery this year will support demand. Further steps can, therefore, not be ruled out," the report said.

The measures were imposed after home prices continued to rise even as the city-state suffered an economic slowdown. It narrowly avoided a technical recession in the last quarter of 2012.

The economy grew just 1.2 percent in 2012, compared with 4.9 percent in 2011. Expansion this year is forecast at 1.0-3.0 percent.

- AFP/ir

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Anonymous hacks MIT after Aaron Swartz's suicide

Anonymous' message on an MIT page (click for larger image).

(Credit:
Screenshot by Steven Musil/CNET)

Just hours after the Massachusetts Institute of Technology pledged an investigation into its role in events leading up to the suicide of Aaron Swartz, online hacktivist group Anonymous defaced the school's Web site.

Swartz, a Reddit cofounder who championed open access to documents on the Internet, committed suicide on Friday. The 26-year-old was arrested in July 2011 and accused of stealing 4 million documents from MIT and Jstor, an archive of scientific journals and academic papers. He faced $4 million in fines and more than 50 years in prison if convicted.

After MIT President L. Rafael Reif issued a statement this afternoon promising a "thorough analysis of MIT's involvement from the time that we first perceived unusual activity on our network in fall 2010 up to the present," Anonymous targeted at least two MIT Web sites. Lacking the loose-knit group's usual feisty language, the message posted on the Web site was a call for reform in the memory of the late Internet activist.

After calling the prosecution of Swartz "a grotesque miscarriage of justice" and "a distorted and perverse shadow of the justice that Aaron died fighting for," Anonymous outlined its list of goals under a section reservedly labeled "Our wishes:"

• We call for this tragedy to be a basis for reform of computer crime laws, and the overzealous prosecutors who use them.


• We call for this tragedy to be a basis for reform of copyright and intellectual property law, returning it to the proper principles of common good to the many, rather than private gain to the few.
  


• We call for this tragedy to be a basis for greater recognition of the oppression and injustices heaped daily by certain persons and institutions of authority upon anyone who dares to stand up and be counted for their beliefs, and for greater solidarity and mutual aid in response.


• We call for this tragedy to be a basis for a renewed and unwavering commitment to a free and unfettered internet, spared from censorship with equality of access and franchise for all.

CNET has contacted MIT for comment on the apparent hacking and will update this report when we learn more.

Critics of the prosecutors in the case say the feds were unfairly trying to make an example out of Swartz. "Aaron's death is not simply a personal tragedy," Swartz's family said in a statement released yesterday. "It is the product of a criminal justice system rife with intimidation and prosecutorial overreach. Decisions made by officials in the Massachusetts U.S. Attorney's office and at MIT contributed to his death."

CNET has also contacted the U.S. Attorney's office and will update this report when we hear back.

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Pictures: Civil War Shipwreck Revealed by Sonar

Photograph by Jesse Cancelmo

A fishing net, likely only decades old, drapes over machinery that once connected the Hatteras' pistons to its paddle wheels, said Delgado.

From archived documents, the NOAA archaeologist learned that Blake, the ship's commander, surrendered as his ship was sinking. "It was listing to port, [or the left]," Delgado said. The Alabama took the wounded and the rest of the crew and put them in irons.

The officers were allowed to keep their swords and wander the deck as long as they promised not to lead an uprising against the Alabama's crew, he added.

From there, the Alabama dropped off their captives in Jamaica, leaving them to make their own way back to the U.S.

Delgado wants to dig even further into the crew of the Hatteras. He'd like see if members of the public recognize any of the names on his list of crew members and can give him background on the men.

"That's why I do archaeology," he said.

(Read about other Civil War battlefields in National Geographic magazine.)

Published January 11, 2013

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Big Winners, Top Moments From the Golden Globes

Let's finally bury this idea that women can't be funny once and for all. Fey and Poehler were undeniably hilarious throughout the Globes, so much so that many fans on Twitter demanded more of them during the ceremony. From their opening bit -- Poehler: "Meryl Streep is not here tonight, she has the flu. And I hear she's amazing in it." -- to their pseudo drunk heckling of best TV comedy actress winner Lena Dunham, they were radiant, energetic, and above all, funny. More please.

Foster made her acceptance of the Cecil B. DeMille lifetime achievement award a coming out, of sorts. She first shocked the audience by leading them to think that she was about to make a huge public statement about her sexuality. Instead, she said she was single, adding "I already did my coming out in the stone age."

"Now, apparently, I'm told that every celebrity is expected to honor the details of their private life with a press conference ... You guys might be surprised, but I'm not Honey Boo Boo child," she said, to a flurry of laughter and applause.

"If you had been a public figure from the time that you were a toddler ... then maybe you too might value privacy above all else," she said. "Privacy."

But Foster did specifically thank her ex-partner Cydney Bernard, with whom she has two kids. Both boys gestured to her from the audience.

She also implied that she was retiring from acting when she said she would not be returning to the Globes stage or any stage. "It's just that from now on, I may be holding a different talking stick," Foster said, bringing many in the audience to tears.

But backstage, Foster clarified to reporters that she was not retiring from acting. "Oh that's so funny," she responded to reporters. "You couldn't drag me away. And I'd like to be directing tomorrow."

It takes a lot to make Hollywood star struck. Bill Clinton did it when he strutted on stage to introduce a clip of "Lincoln," which was up for best drama. He brought the crowd of A-listers to its feet and commended the 16th president. "We're all here tonight because he did it," he said of Lincoln's battle to end slavery.

If there was any doubt that Lena Dunham wasn't Hollywood's next big thing, it was obliterated Sunday night. The star and creator of HBO's "Girls" went home with two awards, best actress in a TV comedy and best TV comedy. Her heartfelt acceptance speech for best actress struck a chord: "This award is for everyone who feels like there wasn't a place for her," she said. "This show made a space for me."

Jessica Chastain won the Globe for best actress in a drama for "Zero Dark Thirty." She offered a moving tribute to director Kathryn Bigelow, the first woman to win a best director Oscar who failed to get a nomination for that award this year, though "ZDT" was up for a slew of other awards, including best picture. "I can't help but compare my character of Maya to you," Chastain said to Bigelow. "When you make a film that allows your character to disobey the conventions of Hollywood, you've done more for women in cinema than you take credit for."

Blame it on nerves, the spirit of spontaneity, or the a-a-a-a-alcohol (apologies to Jamie Foxx), but Jennifer Lawrence's acceptance speech was a tad insulting to a Hollywood icon, if totally hilarious. "Oh what does it say?" she asked, looking at her trophy. "I beat Meryl." She meant Meryl Streep, who was also up for the award.

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Pictures: Civil War Shipwreck Revealed by Sonar

Photograph by Jesse Cancelmo

A fishing net, likely only decades old, drapes over machinery that once connected the Hatteras' pistons to its paddle wheels, said Delgado.

From archived documents, the NOAA archaeologist learned that Blake, the ship's commander, surrendered as his ship was sinking. "It was listing to port, [or the left]," Delgado said. The Alabama took the wounded and the rest of the crew and put them in irons.

The officers were allowed to keep their swords and wander the deck as long as they promised not to lead an uprising against the Alabama's crew, he added.

From there, the Alabama dropped off their captives in Jamaica, leaving them to make their own way back to the U.S.

Delgado wants to dig even further into the crew of the Hatteras. He'd like see if members of the public recognize any of the names on his list of crew members and can give him background on the men.

"That's why I do archaeology," he said.

(Read about other Civil War battlefields in National Geographic magazine.)

Published January 11, 2013

Read More..

Poisoned Lottery Winner's Kin Were Suspicious

Urooj Khan had just brought home his $425,000 lottery check when he unexpectedly died the following day. Now, certain members of Khan's family are speaking publicly about the mystery -- and his nephew told ABC News they knew something was not right.

"He was a healthy guy, you know?" said the nephew, Minhaj Khan. "He worked so hard. He was always going about his business and, the thing is: After he won the lottery and the next day later he passes away -- it's awkward. It raises some eyebrows."

The medical examiner initially ruled Urooj Khan, 46, an immigrant from India who owned dry-cleaning businesses in Chicago, died July 20, 2012, of natural causes. But after a family member demanded more tests, authorities in November found a lethal amount of cyanide in his blood, turning the case into a homicide investigation.

"When we found out there was cyanide in his blood after the extensive toxicology reports, we had to believe that ... somebody had to kill him," Minhaj Khan said. "It had to happen, because where can you get cyanide?"

In Photos: Biggest Lotto Jackpot Winners

Authorities could be one step closer to learning what happened to Urooj Khan. A judge Friday approved an order to exhume his body at Rosehill Cemetery in Chicago as early as Thursday to perform further tests.

Lottery Winner Murdered: Widow Questioned By Police Watch Video

Moments after the court hearing, Urooj Khan's sister, Meraj Khan, remembered her brother as the kind of person who would've shared his jackpot with anyone. Speaking at the Cook County Courthouse, she hoped the exhumation would help the investigation.

"It's very hard because I wanted my brother to rest in peace, but then we have to have justice served," she said, according to ABC News station WLS in Chicago. "So if that's what it takes for him to bring justice and peace, then that's what needs to be done."

Khan reportedly did not have a will. With the investigation moving forward, his family is waging a legal fight against his widow, Shabana Ansari, 32, over more than $1 million, including Urooj Khan's lottery winnings, as well as his business and real estate holdings.

Khan's brother filed a petition Wednesday to a judge asking Citibank to release information about Khan's assets to "ultimately ensure" that [Khan's] minor daughter from a prior marriage "receives her proper share."

Ansari may have tried to cash the jackpot check after Khan's death, according to court documents, which also showed Urooj Khan's family is questioning if the couple was ever even legally married.

Ansari, Urooj Khan's second wife, who still works at the couple's dry cleaning business, has insisted they were married legally.

She has told reporters the night before her husband died, she cooked a traditional Indian meal for him and their family, including Khan's daughter and Ansari's father. Not feeling well, Khan retired early, Ansari told the Chicago Sun-Times, falling asleep in a chair, waking up in agony, then collapsing in the middle of the night. She said she called 911.

"It has been an incredibly hard time," she told ABC News earlier this week. "We went from being the happiest the day we got the check. It was the best sleep I've had. And then the next day, everything was gone.

"I am cooperating with the investigation," Ansari told ABC News. "I want the truth to come out."

Ansari has not been named a suspect, but her attorney, Steven Kozicki, said investigators did question her for more than four hours.

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Video games take off as a spectator sport

Editorial: "Give video games a sporting chance"

EVERY sport has its idols and superstars. Now video gaming is getting them too. Professional gaming, or e-sports, exploded in popularity in the US and Europe last year.

The scene has been big in Asia - particularly South Korea - for about a decade, with top players such as Lim Yo-Hwan earning six-figure salaries and competing for rock-star glory in Starcraft tournaments that attract audiences in the hundreds of thousands.

The phenomenon is taking off in the West partly because of improved video-streaming technology and large financial rewards. Video games are becoming a spectator sport, with certain players and commentators drawing massive online audiences.

And where people go, money follows. The second world championship of League of Legends - a team-based game in which players defend respective corners of a fantasy-themed battle arena - was held in Los Angeles in October. The tournament had a prize pool of $5 million for the season, with $1 million going to winning team Taipei Assassins, the largest cash prize in the history of e-sports.

League of Legends has also set records for spectator numbers. More than 8 million people watched the championship finals either online or on TV - a figure that dwarfs audience numbers for broadcasts of many traditional sports fixtures.

But gamers don't need to compete at the international level to earn money. Video-streaming software like Twitch makes it easy for players to send live footage to a website, where the more popular ones can attract upwards of 10,000 viewers - enough for some to make a living by having adverts in their video streams. Gamers can go pro without leaving their homes.

Currently, e-sports productions are handled by gaming leagues - but that could soon change. Last November saw two moves that will make it even easier to reach a global online audience. First, Twitch announced it would be integrating with Electronic Arts's Origin service, a widely used gaming platform. This would let gamers stream their play at the click of a button, making it easy for people around the world to watch.

Also in November came the latest release from one of gaming's biggest franchises, Call of Duty: Black Ops 2, which has the ability to live-stream via YouTube built into the game itself. Another feature allows the broadcast of in-game commentary for multiplayer matches.

"I think we will reach a point, maybe within five years, where spectator features are a necessity for all big game releases," says Corin Cole of e-sports publishing company Heaven Media in Huntingdon, UK.

David Ting founded the California-based IGN Pro League (IPL), which hosts professional tournaments. He puts the popularity of e-sports down to the demand for new forms of online entertainment. "After 18 months, IPL's viewer numbers are already comparable to college sports in the US when there's a live event," he says. "The traffic is doubling every six months."

Ting sees motion detection, virtual reality and mobile gaming coming together to make physical exertion a more common aspect of video games, blurring the line between traditional sport and e-sports. "Angry Birds could be this century's bowling," says Ting.

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N.Korea tells China of nuclear test plan: report

SEOUL: A North Korean official has apparently told Chinese authorities that the communist state is planning to conduct a third nuclear test in the coming week, a news report said on Saturday.

"We've heard a North Korean official in Beijing told the Chinese side that the North planned to carry out a nuclear test between January 13-20," the Joongang Ilbo daily quoted an unidentified Seoul official as saying.

South Korean officials have a policy of not commenting on intelligence matters.

"We're now stepping up surveillance over the Punggye-ri nuclear test site," the official said in reference to the North's only nuclear test site, where tests were carried out in 2006 and 2009.

With the UN Security Council still debating possible sanctions against the North following the launch of a long-range rocket last month, there has been widespread speculation that Pyongyang may carry out a third nuclear test.

However, Professor Yang Moo-Jin of the University of North Korean Studies in Seoul said there were "no signs of a nuclear test being imminent".

"Chances are slim that the North might push ahead with a nuclear test in this winter season, especially when China is insisting on a moderated response to the rocket launch to prevent a third nuclear test taking place," Yang told AFP.

Last month a US think-tank citing satellite photos said the North had repaired extensive rain damage at the nuclear test site in the northeast of the country and could conduct a detonation on two weeks' notice.

The US-Korea Institute at Johns Hopkins University said satellite photos as recent as December 13 showed Pyongyang was determined to maintain a state of readiness at Punggye-ri.

South Korea's Unification Minister Yu Woo-Ik told a parliamentary committee last month it was "highly probable" the North would likely follow up the successful rocket launch with another nuclear test.

"Judging from analysis of intelligence, significant preparations have been made," he said.

North Korea had a track record of conducting nuclear tests following missile launches, which were aimed at developing a delivery system for nuclear warheads, Yu said.

The North's previous nuclear tests were both carried out within months of long-range rocket launches.

Pyongyang insists the launch was a purely scientific mission aimed at placing a polar-orbiting earth observation satellite in space, but most of the world saw it as a disguised ballistic missile test.

- AFP/ir

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ZTE readies itself for U.S. expansion in 2013

Lixin Cheng, the CEO of ZTE USA, at CES 2013.

(Credit:
Lynn La/CNET)

LAS VEGAS--Lixin Cheng and the rest of his division are determined to make it in America.

Cheng is the CEO of ZTE's U.S. division, and in addition to strengthening the company's carrier relationships, Cheng also has big plans in the near future to increase ZTE's presence in the U.S.

"There are a lot of things already in the pipeline," he said, referring to the devices planned through U.S. carriers.

But other than just spending money on developing handsets (though Cheng does refer to it as ZTE's "bread and butter"), the company also plans on using the $30 million that it recently announced to expanding its U.S. infrastructure, warehousing, and local research and development.

Of course, there are serious obstacles to face. Last fall, the U.S. House Intelligence Committee held a hearing expressing security concerns over alleged ties Huawei and ZTE had with the Chinese government.

Though both companies tried to reassure the lawmakers and the American public that there was nothing to worry about, a veil of suspicion from U.S. consumers remains.

For Cheng, the entire issue was troubling, but there were a few silver linings. First, it helped ZTE increase its transparency with the FCC. Secondly, as the old saying goes - any press is good press.

"From a branding point of view, it increased out brand awareness and a lot of people know ZTE more," he said. "I can't believe there is a positive side, but that's one, I think."

And as for concerns about competing with the tech giants already dominating the U.S. market, Cheng said there isn't any really.

He continued, saying he has full respect for Samsung and Apple, but because ZTE provides such a wide range of inexpensive and prepaid handsets, the company fulfills a niche role in the market that the other two do not satisfy.

"Honestly, I'm not focused on competitors," he said. "That's just our strategy. We're focused on our customers."

For now, what's important are the things that have a more immediate impact, like bringing the ZTE Grand S, the company's new flagship handset, to the U.S. after its initial Chinese launch.

The ZTE Grand S.

(Credit:
Lynn La/CNET)

Cheng is determined to have it available on our shores because it would mark a notable departure from ZTE's usual line of mid-range handsets in the U.S. With this smartphone, along with carrier branding, the Grand S could the company be the boost it needs to make a more positive name for itself.

Especially when considering the money that's at stake. Even though ZTE increased its U.S. market share five to six percent in the last two years, the financial gains from last year weren't so high. Cheng, however, remains steadfast.

"Last year was a very challenging year for us," he said. "But despite that, ZTE is committed to the U.S. market."

For more of CNET's CES 2013 coverage, click here.

Read More..

Pictures: Civil War Shipwreck Revealed by Sonar

Photograph by Jesse Cancelmo

A fishing net, likely only decades old, drapes over machinery that once connected the Hatteras' pistons to its paddle wheels, said Delgado.

From archived documents, the NOAA archaeologist learned that Blake, the ship's commander, surrendered as his ship was sinking. "It was listing to port, [or the left]," Delgado said. The Alabama took the wounded and the rest of the crew and put them in irons.

The officers were allowed to keep their swords and wander the deck as long as they promised not to lead an uprising against the Alabama's crew, he added.

From there, the Alabama dropped off their captives in Jamaica, leaving them to make their own way back to the U.S.

Delgado wants to dig even further into the crew of the Hatteras. He'd like see if members of the public recognize any of the names on his list of crew members and can give him background on the men.

"That's why I do archaeology," he said.

(Read about other Civil War battlefields in National Geographic magazine.)

Published January 11, 2013

Read More..