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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Dubai-based saviour of Youths suggstes information network for UAE goers

JALANDHAR: Dubai-based hotelier S P Singh Oberoi, who has returned with 17 Punjabi youths after saving them from gallows of Sharjah, has suggested to the NRI Sabha Punjab to have an "information and feedback offices" in every district of Punjab to guide youths who wanted to go to UAE for doing odd labour jobs.

During his visit to office of NRI Sabha Punjab, where he was felicitated on Monday late evening, Oberoi said that these offices of NRI Sabha should be approached by youths with names, addresses of the companies where the travel agents were assuring them to send and his UAE based organization 'Sarbat Da Bhalla' would get back within three days about the credentials of the companies.

"Most of the youths who go to UAE are from poor families and arrange loans to migrate there but when they don't get work in good companies or good salaries then they start trapped in illegal trades to save some money for repaying the loan," he said. "They are often misguided by travel agents and we can evolve a system of getting a reliable feedback from UAE then these youths can be saved from such entrapments which are leading them to jails," he said.

He said that several Punjabi youths were getting trapped in such illegal businesses and those he saved from gallows were caught there in similar conditions.

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Hip implants a bit more likely to fail in women

CHICAGO (AP) — Hip replacements are slightly more likely to fail in women than in men, according to one of the largest studies of its kind in U.S. patients. The risk of the implants failing is low, but women were 29 percent more likely than men to need a repeat surgery within the first three years.

The message for women considering hip replacement surgery remains unclear. It's not known which models of hip implants perform best in women, even though women make up the majority of the more than 400,000 Americans who have full or partial hip replacements each year to ease the pain and loss of mobility caused by arthritis or injuries.

"This is the first step in what has to be a much longer-term research strategy to figure out why women have worse experiences," said Diana Zuckerman, president of the nonprofit National Research Center for Women & Families. "Research in this area could save billions of dollars" and prevent patients from experiencing the pain and inconvenience of surgeries to fix hip implants that go wrong.

Researchers looked at more than 35,000 surgeries at 46 hospitals in the Kaiser Permanente health system. The research, published Monday in JAMA Internal Medicine, was funded by the U.S. Food and Drug Administration.

After an average of three years, 2.3 percent of the women and 1.9 percent of the men had undergone revision surgery to fix a problem with the original hip replacement. Problems included instability, infection, broken bones and loosening.

"There is an increased risk of failure in women compared to men," said lead author Maria Inacio, an epidemiologist at Southern California Permanente Medical Group in San Diego. "This is still a very small number of failures."

Women tend to have smaller joints and bones than men, and so they tend to need smaller artificial hips. Devices with smaller femoral heads — the ball-shaped part of the ball-and-socket joint in an artificial hip — are more likely to dislocate and require a surgical repair.

That explained some, but not all, of the difference between women and men in the study. It's not clear what else may have contributed to the gap. Co-author Dr. Monti Khatod, an orthopedic surgeon in Los Angeles, speculated that one factor may be a greater loss of bone density in women.

The failure of metal-on-metal hips was almost twice as high for women than in men. The once-popular models were promoted by manufacturers as being more durable than standard plastic or ceramic joints, but several high-profile recalls have led to a decrease in their use in recent years.

"Don't be fooled by hype about a new hip product," said Zuckerman, who wrote an accompanying commentary in the medical journal. "I would not choose the latest, greatest hip implant if I were a woman patient. ... At least if it's been for sale for a few years, there's more evidence for how well it's working."

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Online:

Journal: http://www.jamainternalmed.com

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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.

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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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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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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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Cauvery row: Karnataka urges PM not to notify final award

NEW DELHI/BANGALORE: The Karnataka delegation led by chief minister Jagadish Shettar urged Prime Minister Manmohan Singh not to constitute Cauvery Management Board and notify final award of River Cauvery Dispute Tribunal.

"The proposed board will adversely affect the absolute authority of the state to regulate its reservoirs derived from Entry-17 of the state List. This would be an unjust and unconstitutional measure which is against the spirit of the cooperative federal system. Therefore, it is not appropriate to constitute a management board," the delegation urged the PM on Monday.

Karnataka's contention is that the final order of the River Cauvery Dispute Tribunal has not directed for constitution of the Cauvery Management Board. "The Tribunal realizing the fact that constitution of a board or authority under section 6(A) of the Act of 1956 is the sole prerogative of the Central government. So, the board should not be constituted," Shettar said.

The state also urged Singh that the very basis of allocation of water to Tamil Nadu needs to be revisited. According to the government, the Tribunal has over-estimated the crop water requirement of T N based on the self serving affidavits of the neighbouring state overlooking the objections of Karnataka. "The latest assessment made by the team of Central Water Commission (CWC) under the direction of Supreme Court has exposed the incorrect claims of TN," Shettar maintained.

The chief minister said the Singh assured to look into matter after consulting legal experts. The options before Centre are that it can approach Supreme Court seeking six months time to notify the final award and it can also petition apex court for constitution of another Tribunal to dispose of pending cases of riparian states - Karnataka, TN, Kerala and Puducherry.

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Study: Better TV might improve kids' behavior

SEATTLE (AP) — Teaching parents to switch channels from violent shows to educational TV can improve preschoolers' behavior, even without getting them to watch less, a study found.

The results were modest and faded over time, but may hold promise for finding ways to help young children avoid aggressive, violent behavior, the study authors and other doctors said.

"It's not just about turning off the television. It's about changing the channel. What children watch is as important as how much they watch," said lead author Dr. Dimitri Christakis, a pediatrician and researcher at Seattle Children's Research Institute.

The research was to be published online Monday by the journal Pediatrics.

The study involved 565 Seattle parents, who periodically filled out TV-watching diaries and questionnaires measuring their child's behavior.

Half were coached for six months on getting their 3-to-5-year-old kids to watch shows like "Sesame Street" and "Dora the Explorer" rather than more violent programs like "Power Rangers." The results were compared with kids whose parents who got advice on healthy eating instead.

At six months, children in both groups showed improved behavior, but there was a little bit more improvement in the group that was coached on their TV watching.

By one year, there was no meaningful difference between the two groups overall. Low-income boys appeared to get the most short-term benefit.

"That's important because they are at the greatest risk, both for being perpetrators of aggression in real life, but also being victims of aggression," Christakis said.

The study has some flaws. The parents weren't told the purpose of the study, but the authors concede they probably figured it out and that might have affected the results.

Before the study, the children averaged about 1½ hours of TV, video and computer game watching a day, with violent content making up about a quarter of that time. By the end of the study, that increased by up to 10 minutes. Those in the TV coaching group increased their time with positive shows; the healthy eating group watched more violent TV.

Nancy Jensen, who took part with her now 6-year-old daughter, said the study was a wake-up call.

"I didn't realize how much Elizabeth was watching and how much she was watching on her own," she said.

Jensen said her daughter's behavior improved after making changes, and she continues to control what Elizabeth and her 2-year-old brother, Joe, watch. She also decided to replace most of Elizabeth's TV time with games, art and outdoor fun.

During a recent visit to their Seattle home, the children seemed more interested in playing with blocks and running around outside than watching TV.

Another researcher who was not involved in this study but also focuses his work on kids and television commended Christakis for taking a look at the influence of positive TV programs, instead of focusing on the impact of violent TV.

"I think it's fabulous that people are looking on the positive side. Because no one's going to stop watching TV, we have to have viable alternatives for kids," said Dr. Michael Rich, director of the Center on Media and Child Health at Children's Hospital Boston.

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Online:

Pediatrics: http://www.pediatrics.org

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Contact AP Writer Donna Blankinship through Twitter (at)dgblankinship

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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

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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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Pope, nearing retirement, says pray "for me and next pope"

VATICAN CITY (Reuters) - Pope Benedict asked the faithful to pray for him and for the next pope, addressing a crowded St. Peter's Square in his penultimate Sunday address before becoming the first pontiff in centuries to resign.

The crowd chanted "Long live the pope!," waved banners and broke into sustained applause as he spoke from his window. The 85-year-old Benedict, who will resign on February 28, thanked them in several languages.

Speaking in Spanish, he told the crowd which the Vatican said numbered more than 50,000: "I beg you to continue praying for me and for the next pope".

It was not clear why the pope chose Spanish to make the only specific reference to his upcoming resignation in his Sunday address.

A number of cardinals have said they would be open to the possibility of a pope from the developing world, be it Latin America, Africa or Asia, as opposed to another from Europe, where the Church is crisis and polarized.

After his address, the pope retired into the Vatican's Apostolic Palace for a scheduled, week-long spiritual retreat and will not make any more public appearances until next Sunday.

Speaking in Italian in part of his address about Lent, the period when Christians reflect on their failings and seek guidance in prayer, the pope spoke of the difficulty of making important decisions.

"In decisive moments of life, or, on closer inspection, at every moment in life, we are at a crossroads: do we want to follow the ‘I' or God? The individual interest or the real good, that which is really good?" he said.

FOR THE GOOD OF THE CHURCH

Since his shock announcement last Monday, the pope has said several times that he made the difficult decision to become the first pope in more than six centuries to resign for the good of the Church.

"In a funny way he is even more peaceful now with this decision, unlike the rest of us, he is not somebody who gets choked up really easily," said Greg Burke, a senior media advisor to the Vatican.

"I think that has a lot to do with his spiritual life and who he is and the fact he is such a prayerful man," Burke told Reuters Television.

The pope has said his physical and spiritual forces are no longer strong enough to sustain him in the job of leading the world's 1.2 billion Roman Catholics at a time of difficulties for the Church in a fast-changing world.

Benedict's papacy was rocked by crises over the sex abuse of children by priests in Europe and the United States, most of which preceded his time in office but came to light during it.

His reign also saw Muslim anger after he compared Islam to violence. Jews were upset over his rehabilitation of a Holocaust denier. During a scandal over the Church's business dealings, his butler was convicted of leaking his private papers.

People in the crowd said the pope was a shadow of the man he was when elected on April 19, 2005.

"Like always, recently, he seemed tired, moved, perplexed, uncertain and insecure," said Stefan Malabar, an Italian in St. Peter's Square.

"It's something that really has an effect on you because the pope should be a strong and authoritative figure but instead he seems very weak, and that really struck me," he said.

The Vatican has said the conclave to choose his successor could start earlier than originally expected, giving the Roman Catholic Church a new leader by mid-March.

Some 117 cardinals under the age of 80 will be eligible to enter the secretive conclave to elect Benedict's successor. Church rules say the conclave has to start between 15 and 20 days after the papacy becomes vacant, which it will on February 28.

But since the Church is now dealing with an announced resignation and not a sudden death, Vatican spokesman Federico Lombardi said the Vatican would be "interpreting" the law to see if it could start earlier.

CONSULTATIONS BEGUN

Cardinals around the world have already begun informal consultations by phone and email to construct a profile of the man they think would be best suited to lead the Church in a period of continuing crisis.

The Vatican appears to be aiming to have a new pope elected and then formally installed before Palm Sunday on March 24 so he can preside at Holy Week services leading to Easter.

New details emerged at the weekend about the state of Benedict's health in the months before his shock decision.

Peter Seewald, a German journalist who wrote a book with the pope in 2010 in which Benedict first floated the possibility of resigning, visited him again about 10 weeks ago and asked what else could be expected from his papacy.

According to excepts published in the German magazine Focus, the pope answered: "From me? Not much from me. I'm an old man and the strength is ebbing. I think what I've done is enough."

Asked if he was considering resigning, the pope said: "That depends on how much my physical strength will force me to that".

Seewald said he was alarmed about the pope's health.

"His hearing had deteriorated. He couldn't see with his left eye. His body had become so thin that the tailors had difficulty in keeping up with newly fitted clothes ... I'd never seen him so exhausted-looking, so worn down."

The pope will say one more Sunday noon prayer on February 24, hold a final general audience on February 27. The next day he will take a helicopter to the papal summer retreat at Castle Gandalf, south of Rome, flying into the history books.

Vatican officials said he would stay there for the two months or so needed to restore the convent inside the Vatican where he will live out his remaining years.

(Additional reporting by Hanna Rantala; Editing by Robin Pomeroy)

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