PRESS DIGEST - Singapore newspapers - June 6
SINGAPORE, June 6 (Reuters) - The following are stories from Singapore newspapers on Friday. Reuters has not verified these stories.
THE STRAITS TIMES
- Former lawyer Gopalan Pallichadath Nair, 58, was released on bail yesterday after having been arrested last Saturday for allegedly insulting a High Court judge. There were two bail conditions for Nair, who gave up his Singapore citizenship in 2005 and is now a U.S. citizen running a law firm in California.
- Despite worries about inflation and a slowing economy, it appears that Singaporeans still love to shop during the Great Singapore Sale - even more than last year. During the opening week of the sale, four major retailers said business was up compared to the first seven days of the shopping festival last year.
BUSINESS TIMES
- There will be no let up in growing the business and hiring more people for Standard Chartered Bank (STAN.L) despite the ongoing financial markets turbulence, said chief executive Peter Sands yesterday. As for Singapore, which is the No 3 contributor to group profits, both wholesale and consumer banking businesses of the bank continue to grow strongly, said London-based Mr Sands who is here on one of his regular visits.
- Changi Airports International (CAI) is tying up with a Russian investment company to bid for the right to redevelop and operate the airport in the city of St Petersburg. CAI, a wholly owned subsidiary of the Civil Aviation Authority of Singapore (CAAS), will hold a 25 per cent stake plus one share stake in the partnership. Russian company Basic Element will hold the remaining 75 per cent.
- Fabless semiconductor giant Silicon Laboratories (SLAB.O) yesterday officially opened its new international headquarters at Serangoon North Ave 5. It is three times bigger than its previous office at Harbourfront. This shift reflects the company's effort to expand its design and R&D operations here.
