Record Date

Broadcast/Release Date

Recorded Duration

Recording Language

Accession No.

Type

Format

Conditions Governing Access

Conditions Governing Reproduction

Synopsis :

1.  The Thai Prime Minister has taken over the finance portfolio. This after the resignation this morning of Dr Amnuay Viravan who was Finance Minister and Deputy Prime Minister. And following in his footsteps will be Commerce Minister, Dr Narongchai Akrasanee who plans to quit the government this weekend. Panic selling took hold of markets as the resignation of Thailand's Finance Minister stoked fears of an imminent baht devaluation. A prospect dismissed by Thailand's central bank governor meanwhile - who also insisted on no change in monetary policy.

The Thai SET index closed down 18 points at 464. But the real shortfall was found in other Asian markets where the baht took its biggest beating dipping to a intra day low of 27.2 baht to the dollar before recovering to close at 25 baht to the dollar. Businessmen in Bangkok, now accustomed to the high turnover of Finance Ministers said the current fears over the vacuum left by Dr Amnuay's is only for the short-term. Remaining confident that the technocrats in government will still be able to manage Thailand's economy till a competent replacement is found.

2.  China's Foreign Minister Qian Qichen has reassured Hong Kong that Beijing will not hurt the territory nor infringe upon its interests, after it reverts to Chinese rule. In return, he said he hopes Hong Kong will do nothing to harm China. Mr. Qian, who is also a vice-premier, said this in a speech published today by the official People's Daily. In an effort to allay fears that the British colony would be worse off after the handover, Mr. Qian stressed that Beijing is eager for Hong Kong to succeed. And reiterated that the territory's capitalist lifestyle under the 'one country, two systems' formula, will continue as promised for the next 50 years.
3.  And another reassurance on Hong Kong this time by Governor Chris Patten. He says democratic changes made during his tenure, will not be easily reversed. He told a Hong Kong newspaper, that he expects 'a great deal more emphasis on continuity' by the territory's future leader Tung Chee-Hwa. Governor Patten today held his final question-and-answer session with the territory's legislators. The main topic: Hong Kong's handover in less than 2 weeks.
4.  China's said the United States shouldn't link trade with other issues. And Beijing stressed renewing China's Most Favoured Nation trade status would benefit both countries. President Bill Clinton's meeting members of the House of Representatives to urge them to back him in renewing China's most favoured nation status. Taking away China's MFN status would mean a hike in the tariff on Chinese imports to the US. Those who are against granting China MFN status argue that Washington should put principle ahead of commerce.

And should stand firm with China because of concerns over human rights, nuclear technology transfers and curbs on religious freedoms. But those who support trade with China say it's counter productive to take away China's most favoured nation status because that hurts American businesses as well. China's foreign ministry spokesman even hinted Beijing could turn to other countries for business if the US sets up trade barriers.

5.  North Korea has repeated a warning that it is ready for what it calls, a 'final battle' with the United States and South Korea if they want a military showdown. Today's warning, which called Seoul's recent war games a 'declaration of war' was issued by a senior party official, and carried by the Korean Central News Agency. Just yesterday, a North Korean military spokesman issued an almost identical warning, using language which analysts say was strong, even by North Korean standard. In the statement, the spokesman accused Seoul and Washington of preparing to strike, while Pyongyang is weak from famine.
6.  And in Cambodia the fate of the country's most notorious former leader Pol Pot remains uncertain. First Prime Minister Prince Norodom Ranariddh today said Pol Pot had surrendered to his former comrades. Other Cambodian government leaders say they'll believe it when they see him. Pol Pot came to power over 20 years ago when the country had a population of 9 million. But during his four-year reign more than 2 million Cambodians were slaughtered. His communist Khmer forces emptied Cambodia's cities of people and started on a programme to create a spartan, agrarian society city dwellers were forced back to work as in the fields in what became the killing fields where many of the educated and professionals were worked to death.

Those who oppose Pol Pot were put in prison all that's left of them are pictures. The Khmer Rouge were eventually ousted by the Vietnamese invasion of 1978. And Pol Pot went into the jungle to set up his base. Khmer Rouge guerrillas continued to control large parts of the Thai border until last August when more than 10,000 fighters defected to the government. And now the men Pol Pot led almost 30 years ago are bent on capturing him.

7.  More fighting in the West Bank town of Hebron Palestinian youths are up against Israeli soldiers for the sixth day. The clashes broke out amid Palestinian frustration at a 3-month-stop in negotiations with Israel. The Palestinians have said they will not return to the talks unless Israel stops building more houses in the West Bank.
8.  Singapore's budget will be tabled in Parliament in the first half of next month. The confirmation - from Finance Minister Dr. Richard Hu today. As he gave the thumbs up, meanwhile to the Thai economy.
9.  Internet users will soon find it easier to set up websites with the names they want. A newly set-up company which will register domain names plans to relax current rules. The National Computer Board says it hopes deregulation will increase user choice and let market forces decide the quality of services.
10. Car-owners in selected HDB estates may soon kiss their parking woes goodbye. That's because within 2 years, there'll be 20 multi-tiered carparks across the island, extended upwards from their original heights.
11. From next month, CPF members who've reached the age of 55 must set aside 50 thousand dollars in their retirement accounts under the Minimum Sum scheme. This is an increase of 5 thousand dollars over the current sum. Out of the total sum, 12 thousand dollars must be kept in cash while the remaining 38 thousand can be in the form of investments pledged with the CPF Board, like for property or education. A statement from the Board says the increase is in line with the aim to raise the Minimum Sum by 5 thousand dollars a year until the year 2003. The aim - to provide members with a regular monthly income when they reach 60 years old, the current retirement age.
12. Retail activities for April showed a marked decline from a month earlier. This according to the latest figures from the Department of Statistics.
13. It seems the launch of Singapore One's caught the imagination not only of Singaporeans but also multi-media operators in the region. And many are hoping to keep pace by accelerating the building of their own networks. This according to Alcatel, the company which helped construct the backbone to Singapore One.
14. The hushand of a woman found dead yesterday in Blk 505 of Serangoon North Avenue 4 was charged with murder today in the Subcourts. Kannan Marrie, 36, is accused of having murdered Komala Kerappiah, 35. The accused will be remanded in CID until the case is mentioned again in a week.
15. Money makes more money. A line to most aptly describe the coming weekend when 2000 bank notes, coins and stamps valued at over 3 million dollars go under the hammer.
16. And more bank notes this time a million dollar note to mark the Hongkong handover. It's designed by a Singapore artist, is priced at 18 dollars each.
17. And also to mark the handover a Chinese blockbuster movie 'The Opium War'. It premiered in Singapore last night, and audiences found that the historical epic carries a message that's relevant even today.
18. Stockmarkets in the region shrugged off the troubles in the Thai market following the resignation of the Thai Finance Minister. The STI Index is up, breaking the 2,000 support level, led by institutional buying. Heading the actives list - Ho Wah Genting International, with over 5 million shares changing hands. Top gainer was May Bank, while top loser Van Der Horst - affected by poor interim results and an impending cash call. In regional markets, KL and Hong Kong both recorded gains. The Hang Seng is up sharply due to a rebound of property and banking stocks.

In forex markets, the Sing dollar ended mixed against major currencies. Gold in London is trading at 340 dollars and 10 cents, up from its Asian close. In international markets, Tokyo ended relatively flat. Investors cautious ahead of the G7 summit due to start later this week. London shares in mixed trading due to worries over the upcoming budget. While on Wall Street, stocks up sharply in light of unexpected narrower trade gap.