Singapore News

Euro Crisis Worries Spread; U.S. to Send Treasury Envoy

Global concern about the debt crisis rocking the euro zone mounted on Wednesday, with Washington sending a top U.S. Treasury envoy to Europe and G20 officials discussing the turmoil in a conference call. A day after investors pushed the risk …

Ireland, EU Conclude $113 Billion Bailout

Negotiators for the Irish government and the European Union put the finishing touches on an €85 billion [$113 billion] bailout for the beleaguered country over the weekend. The agreement follows Ireland’s somewhat reluctant acceptance that the situation with its banks …

Qantas Says Global A380 Fleet Needs to Replace up to 40 Engines

About 40 Rolls-Royce engines used in the world’s fleet of Airbus A380 aircraft may need to be replaced to ensure safety after one such engine partly disintegrated mid-flight this month, Australia’s Qantas said. That would represent about half of all …

Countries Finalize Anti-counterfeit Trade Pact Text

Negotiators from nearly 40 countries have finalized the text of an international agreement to help fight the growing trade in fake and pirated goods, the European Commission and the United States said on Monday. The negotiators settled a handful of …

Rolls Royce Engine Scare Highlights Wider Aerospace Risks

Even if the fiery blowout of a Rolls-Royce engine proves no fault of the builder, recent setbacks in aerospace could force investors to rethink bets on the next generation of far more challenging planes. “This incident serves as a wake-up …

EU Safety Regulator Orders A380 Engine Inspection

Europe’s aviation regulator said fire from an oil leak was the likely cause of last week’s engine failure of a Qantas A380 plane and ordered stringent inspections on super jumbos using Rolls-Royce engines. Qantas said on Thursday it expected its …

Somali Pirates Release South Korean Tanker after Ransom Payment

Somali pirates have freed a hijacked South Korean-operated supertanker and its 24 crew after seven months of captivity, officials said Sunday amid reports that a record ransom was paid. The Samho Dream was sailing toward a safe third country under …

Fear of Volcanic Ash Leads to Flight Cancellations to Jakarta

Just days before President Barack Obama’s long-awaited visit to Indonesia, some international flights were canceled over concerns about a volcano spewing ash hundreds of miles away. Malaysia was preparing to airlift hundreds of citizens out of the country. The notoriously …

Qantas Grounds A380s for 3 More Days to Inspect Engines

Australia’s Qantas Airways has grounded its A380 fleet for at least another three days as it investigates oil leaks as a possible cause of the explosion which tore apart one of the super jumbo’s engines last week. Qantas shares fell …

Ratings: First Capital, First Net, Trinidad & Tobago Ins., Harmony General

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Singapore’s First Capital Insurance Limited, both with stable outlooks. The ratings reflect First Capital’s “adequate risk-adjusted capitalization and its ability to …