(SINGAPORE) The biomedical sciences (BMS) sector has been hit by a wave of consolidations among pharmaceutical giants and Singapore is tweaking its strategy to ride the storm.

IN one of the year's largest corporate transactions, Astro Holdings, a special-purpose vehicle controlled by tycoon T Ananda Krishnan, yesterday proposed an RM8.5 billion (S$3.6 billion) leveraged buyout (LBO) of Malaysia's listed satellite television firm Astro All-Asia Networks.

CAPITACOMMERCIAL Trust (CCT) is planning to raise at least $225 million and up to $250 million through a five-year convertible bond issue to be placed with institutional and accredited investors.

IN THE latest twist at Sino-Environment, the key management of its subsidiaries in China have pledged their support to help restart business operations.

IN CONTRAST to Tuesday when the Straits Times Index's rise provided the main talking point in an otherwise dull market, yesterday's session saw the broad market provide the main talking point while the index chalked up a 22.87-point rise to 2,919.3, its eighth rise in nine days.

(WASHINGTON) Employers won't hire enough workers this year to lower the jobless rate much below the level of 9.7 per cent reached in February, three Obama administration economic officials said on Tuesday.

(FRANKFURT) It used to be easy to sum up the way European business executives viewed exchange rates: a strong dollar was good; a strong euro was bad.

ONLINE payments facilitator, PayPal yesterday announced plans to ramp up Singapore operations with more hires and a tie-up with DBS Bank which would make it easier and more secure for the latter's customers to shop online.

MOTOR insurance's losses shrank to $44.5 million last year, from 2008's record loss of $214 million, thanks to better underwriting discipline and an initiative to improve claims reporting, the General Insurance Association (GIA) said yesterday.

THE sheer size of the Indian market is a big draw for foreign investors. But it has also scared away some Singapore companies. While others see the promise of a big market, these companies are overwhelmed by what they see as its complexity.

ENJOY eliminated or reduced import duties on your exports to India when you tap the India-Singapore Comprehensive Economic Cooperation Agreement (CECA).

(SINGAPORE) Premium air travel is recovering amid the robust global trade and economic recovery, the latest data released by the International Air Transport Association (Iata) shows.

(LONDON) Britain's Unite union said on Tuesday that it was in talks with the US International Brotherhood of Teamsters regarding the seven days of strikes it plans against British Airways (BA).

(LONDON) The worst is over for the shipping industry but the seaborne sector will continue to face oversupply problems which will put pressure on freight rates this year, Moody's Investors Services said on Tuesday.

(HONG KONG) Container lines will 'absolutely' win targeted rate increases on Asia-US routes this year because of capacity cuts and rising US consumer spending, according to Goldman Sachs Group Inc. 'US and Europe consumers are not feeling as bad as a year ago' Goldman analyst Tom Kim said at a shipping conference on Tuesday. 'The volumes are still there. The demand is picking up.'

PIPE-coating expert Wah Seong Corporation (WSC), which appears to have nixed the idea of listing its subsidiary on the Singapore stock exchange, wants to beef up to international size for an oil and gas player.

(JAKARTA) Mining firms in Indonesia with long-term overseas supply contracts will be allowed to increase their production to meet a requirement of setting aside supply for the domestic market, a government official said yesterday.

(JAKARTA) Australian firms Coca Cola Amatil Ltd, Commonwealth Bank of Australia, Thiess Pty Ltd and Ramsay Health Care Ltd have agreed to invest more than US$1 billion to expand in Indonesia this year, the head of the country's investment agency said yesterday.

(BEIJING) The World Bank yesterday urged China to let its currency rise to contain inflation and stop the economy from overheating, predicting that growth will gallop ahead at 9.5 per cent this year.

SOARING property prices in China, fed by a surge in bank lending, 'may be creating asset bubbles' in the world's fastest-growing economy, Asian Development Bank president Hirohiko Kuroda suggested yesterday.

(NEW DELHI) India, with US$254 billion of foreign- exchange reserves, may create a sovereign wealth fund (SWF) to help state companies compete for overseas energy assets with China, a government official said.

(CHICAGO) Reliance Industries, the owner of the world's largest fuel-making complex, is in talks with Atlas Energy to invest in the US natural gas producer's shale assets, a person familiar with the negotiations said.

RESPONDING to a constant drumbeat of criticism recently that it has not done enough to counter deflationary pressures in Japan and to support the nation's economic recovery, the Bank of Japan yesterday announced further monetary easing measures.

THERE should be a greater institutional presence in Asia to facilitate economic integration in the region.

(LONDON) A Pablo Picasso painting of an absinthe drinker owned by composer Andrew Lloyd Webber's charity foundation may fetch as much as £40 million (S$84.5 million) at an auction here in June.

(LONDON) Opec decided to leave its output targets unchanged yesterday.

(NEW YORK) The US dollar fell against most major currencies yesterday, still reeling from the US Federal Reserve's continued commitment to keep interest rates low for an 'extended period', while the yen slipped after the Bank of Japan eased policy.

FOR years, Singapore set its sights on becoming the 'Switzerland of the East' - as much for economic wealth and standard of living targets as for prowess as a financial hub.

GOOGLE is poised to lift its Singapore headcount in a big way soon. The Internet search giant is also seeking to strike deals with content providers in Singapore over its YouTube online video service.

(SINGAPORE) IBM - which topped Singapore's server market in the fourth quarter of last year - is eyeing even more growth this year, said Cheah Saw Pheng, its general manger of systems and technology in Singapore.

(SINGAPORE) JTC Corporation is looking for 'cutting-edge' ideas from the private and public sectors and academic institutions on how to intensify land use and create new industrial space.

(HONG KONG) A Hong Kong listed company said yesterday it will buy a luxury house for a near-record price in the city, a month after the government introduced measures to cool the city's property market.