kueytoc

Are million dollar HDB flats going to be the norm ? By PropertyGuru October 19th, 2010 It was reported in the media in early October that a 1,668 square foot HUDC unit at Block 315 in Bishan along Shunfu Road was sold for $1.1 million, or around $659 per square foot. It was also reported that the flat was valued at $900,000, so the buyer paid a Cash Over Valuation (COV) of $200,000, and that he did so because the unit was on a high floor and located conveniently just outside the city. There was also talk about the en bloc potential of the estate, similar to Amberville, to explain the unusually high price paid. I took a look at the HDB website and it appears there is another unit of exactly the same size but on a lower floor in Block 319 that was also sold for $1.1 million recently. Whatever the reasons the buyers paid such a high price for it, for many Singaporeans their thoughts must be: Are million dollar HDB flats going to be the norm in the future? These million dollar units are not your typical HDB flats. Firstly these are HUDC flats, which were built under an already phased out special scheme the government started in the 1970s to satisfy the sandwiched class who could not afford private properties but aspired to larger homes and nicer estates some were even gated to give residents more exclusivity. From 1995 these estates could be privatised, thus giving rise to the talk about en bloc potential. Secondly, at almost 1,700 square feet, these units are very large. So the relatively high per square foot price of $659 is compounded by the large flat size to give you a high absolute value of $1.1 million. New HDB flats being built now mostly only go as large as 1,200 to 1,400 square feet, so these older but larger HUDC and Executive flats also benefit from the scarcity factor. Thirdly, these particular units are located in a prime location in Bishan near the Circle Line MRT. Bishan is a hot area with high HDB prices, and in the months of September and October, the prices of resale transactions for Executive flats ranged from $648,000 to $860,000. Contrast this with a less popular area like Woodlands where the same type of flats during the same period transacted in the range of $430,000 to $616,000. So no, I do not think million dollar HDB flats are going to be the norm unless per square foot prices in the hot HDB estates start to approach the $700 to $800 per square foot levels, which is when we will start to see many more of these transactions. For now, these two transactions are one-offs (although similar units in those estates could also transact above a million dollars). But whether we see many more of these million dollar HDB transactions or not, these stories are making many Singaporeans increasingly anxious that housing prices are rising too quickly and moving out of their grasp. Indeed, from the first quarter of 2007 to the third quarter (flash estimate) of 2010, the HDB resale price index has risen by 60 percent, a pace which many consider too quick. In response, on August 30, the government announced a suite of measures to drive out investors from the HDB resale market and stabilise prices. And on October 18, HDB announced further tweaks to the resale procedure for HDB flats, including enhancing the Resale Checklist for sellers and introducing a 7-day cooling-off period between the submission of the Resale Checklist and granting of the Option To Purchase. Whether these will work to contain the rapid price increase remains to be seen, but in the near term, we can expect transaction volumes to decline, with many buyers taking a wait-and-see attitude. Mr. Propwise is the founder of Singapore property blog www.propwise.sg, which aims to help people make better real estate buying, selling, renting and investing decisions.

Microsoft touts games for Xbox 360 motion controller AFP - Wednesday, October 20 SAN FRANCISCO (AFP) - – Microsoft unveiled an array of Xbox 360 videogames tailored for play using the movement-sensing Kinect controller set to debut in November. Kinect games set for release next month range from exercise and sports titles to "Harry Potter and the Deathly Hallows," which lets people play as the fictional young wizard battling the forces of "Lord Voldemort." A "Kinectimals" videogame tailored for children lets players befriend and train wild on-screen animals with words and gestures. Studios with titles ready for the Kinect launch include Ubisoft, Electronic Arts, MTV Games/Harmonix, Microsoft Games, and Warner Brothers Interactive Entertainment. Microsoft's new gesture-sensing system for the Xbox 360 console will go on sale in the United States on November 4. Kinect uses a 3-D camera and motion recognition software to let people play videogames using natural body movements and voice commands instead of hand-held controllers. Microsoft said "Kinect for Xbox 360" that will sell for 149.99 dollars will include the Kinect Sensor and the videogame "Kinect Adventures," which features a river raft ride through an obstacle course. The Kinect Sensor will work with the 42 million Xbox 360s already sold worldwide. Microsoft also announced that a four-gigabyte Xbox 360 console will include the Kinect Sensor and "Kinect Adventures" and sell for 299 dollars.

Fewer Long Weekends in 2011 Wed, Apr 21, 2010 AsiaOne, The Straits Times SINGAPOREANS will get fewer long weekends next year. Five out of the 11 public holidays will fall on a Friday or a Sunday next year, according to the schedule of public holidays in 2011 released by the Ministry of Manpower on Wednesday. Singaporeans enjoy seven long weekends last year and this year. Next year, they will only get five. The dates for the 11 specified public holidays for 2011 are as follows: New Year's Day 1 January 2011 Saturday Chinese New Year 3 and 4 February 2011 Thursday, Friday Good Friday 22 April 2011 Friday Labour Day 1 May 2011 Sunday* Vesak Day 17 May 2011 Tuesday National Day 9 August 2011 Tuesday Hari Raya Puasa 30 August 2011 Tuesday Deepavali 26 October 2011 Wednesday Hari Raya Haji 22 April 2011 Friday Christmas Day 25 December 2011 Sunday* * The following Monday will be a public holiday The date for Deepavali scheduled on 26 October 2011 needs to be confirmed and checked against the Indian Almanac when it is available. Should there be a change in date, the Ministry of Manpower will issue a media release to announce the change. The list of public holidays for 2011 is available on the Ministry of Manpower's website at http://www.mom.gov.sg. DEEPAVALI DATE FOR 2010 The Ministry would like to inform that there is no change to the Deepavali date this year and it remains on 5 November 2010, as previously announced.

Songwriters today "pretty awful," says Elton John Reuters - Tuesday, October 19 LONDON - British singer Elton John described today's songwriters as "pretty awful," pop music as uninspiring and talent shows like "American Idol" as boring in an interview published on Tuesday. The 63-year-old singer of "Your Song" and "Candle in the Wind," one of the most successful pop artists of all time, added that the instant fame which talent shows can bring was not the way to become a genuine star. "It's important they write their own songs, so they're not at the mercy of anyone," John, whose real name is Reginald Dwight, told Britain's Radio Times magazine. "Songwriters today are pretty awful, which is why everything sounds the same. Contemporary pop isn't very inspiring." He said he was a fan of young female pop acts Lily Allen, Amy Winehouse and Lady Gaga, before adding: "I'm not a fan of talent shows. I probably wouldn't have lasted if I'd gone on one. I was asked to judge 'American Idol'. I couldn't do it because I won't slag anyone off. "Also I don't want to be on television. It's become boring, arse-paralysingly brain crippling." He said "X Factor" judge and music producer Simon Cowell had discovered some talented acts through his TV shows, "but the only way to sustain a career is to pay your dues in small ... clubs. "I was in a band at 17, became a songwriter with Bernie Taupin and wasn't successful until we'd had six years of hard graft and disappointment, as well as great times. "TV vaults you to superstardom and then you have to back it up, which is hard. Leona Lewis and Alexandra Burke are at the mercy of the next song they can get. " Susan Boyle was an endearing phenomenon, but I fear she might not understand the rigors of showbusiness." John is releasing a new album this week, "The Union," a collaboration with his musical hero Leon Russell, and plays the BBC Electric Proms in London on October 28.

Tom Bosley of "Happy Days" dies at 83 Reuters - 2 hours 40 minutes ago LOS ANGELES - Actor Tom Bosley, whose career spanned five decades and included his role as the father of a typical American family on popular 1970s TV comedy "Happy Days," has died after a long battle with lung cancer, age 83. The actor died at his home just outside Palm Springs, California on Tuesday, his family said in a statement. Bosley's everyday manner and looks helped him forge a career in Hollywood as a character actor and guest star in a number of popular 1960s television shows such as "Route 66," "Dr. Kildare," "Marcus Welby, M.D." and "Bonanza." But it was on the long-running "Happy Days" that he enjoyed his biggest success, playing the father of the show's central character Richie Cunningham, who was a teenager growing up in the 1950s. "Happy Days" ran from 1974 to 1984 and was a smash hit series that made Henry Winkler a major Hollywood star and sparked the adult success of Ron Howard, who played Richie and would later go on to a career as a film director. Winkler told a local Los Angeles radio station that the cast and crew were "a family" and that Bosley was "one of the dads on set." "I spoke to him just a few weeks ago, and he seemed to be getting his strength back and doing really well," Winkler said. Howard called him "a great father and husband, and a wonderful artist led by example, and made us all laugh while he was doing it." When the show ended, Bosley returned to character work on TV with roles in numerous popular series such as "The Love Boat" and "Murder, She Wrote." He continued working well into the 2000s with parts in series such as "That '70s Show." Bosley was born in October, 1927, in Chicago and he served in the U.S. Navy during World War Two. He began his career on stage following the war and worked in theater for more than a decade before moving to television. He is survived by his wife, Patricia Carr, a daughter from his first marriage and her children.

Bulk Reef Supply releases Bio Pellets for the cheap Posted on October 19th, 2010 by Ryan Gripp Popular discount retailer, Bulk Reef Supply has released their version of the Bio Pellet that we made famous among our readers way back in 2009. The solid carbon dosing bio pellets are popular for helping to remove nitrates from your aquarium and until recently these things were very expensive. When we first covered these Bio Pellets they were retailing for around $75 for a 500ml bag. We recommend 1 cup (236 ml) of BRS biopellets per 50 gallons of system volume. BRS Bio Pellet Instructions Solid carbon dosing (bio pellets) has recently become an extremely popular method of removing nitrates from the aquarium. The exact method of denitration can be different for each tank but it mainly consists of a few things: * Nitrate laden Bacteria is removed via the protein skimmer * Bacteria directly converts nitrite into nitrous oxide so nitrate is never produced * Bacteria consumes nitrates and processes them down into nitrogen gas * Nitrate laden Bacteria is consumed by tank inhabitants like corals and sponges Depending on the system it should take 4-8 weeks for the bacteria population to multiply and begin its work on your nitrates. Once you have the reactor going we suggest not making any adjustments for 8 weeks. Give the media and bacteria time to adjust to the parameters found in your tank and begin working. Even small adjustments to the reactor can change the parameters inside the reactor and slow down the results. Please keep in mind that while solid carbon dosing (bio pellets) has become extremely popular it is very new to saltwater aquaria. There is a lot of good theory on why it works so well for most aquarists but some struggle to see results which means you may need to adjust some parameters to achieve best results. Because there are so many variables it’s often difficult to determine what might be holding an aquarist back. These are some of the most common variables that would affect the how the system works: starting nitrate levels, phosphorous (phosphate) levels, dominant strains of bacteria in the tank, use of additional commercial bacteria strains such as zeobak, types of live stock, protein skimmer size and quality, where the effluent of the reactor is fed, use of UV sterilizers, potassium levels, amount of light surrounding the reactor, type and amount of fish and coral foods used and speed at which the media is tumbling. Because there are so many variables it is difficult to give a one size fits all advice for this product but this is the sweet spot where we have found the most success with the above variables. * Most customers will use this system to reduce already high nitrate levels and then maintain them at the new low levels. This means the bacterial load is going to go through constant adjustment as the nitrate levels drop and add complexity to the beginning stages of starting the system. You may also choose to use a series of larger water changes near each other to get the levels down before starting the bio pellet system. This will keep the parameter changes to a minimum and remove a level of complexity during the initial stages. Either way please allow 8 weeks before making any changes. * Bacteria require small amounts of phosphorous to metabolize nitrate properly and phosphate levels theoretically could be a limiting factor for this system. For this reason we recommend not using phosphate removal products like GFO during the initial phase when you are trying to lower nitrate levels. Once you have the nitrate levels down we recommend continuing the use of GFO to maintain optimal parameters in the tank. You may find that your GFO lasts longer when used in conjunction with the bio pellet system. We find that the Hanna PO4 checker is the best tool to test phosphate levels because it provides reliable easy to read readings. * It is difficult to control the dominant strains of bacteria in the aquarium, however continual dosing of beneficial bacteria strains found in supplements such as zeobak can help with this. * We do not think commercial bacteria products are absolutely required but they have the potential to speed the process up and control types of bacteria. This is certainly something we would recommend trying if you are having difficulty with the system. * Some corals and sponges will consume the nitrate laden bacteria which will effectively reduce the amount of nitrate available in the water column. * The skimmer will remove a lot of the nitrate laden bacteria so a high quality skimmer will greatly increase the effectiveness of the system. * Feeding the effluent of the bio pellet reactor directly into the protein skimmer or near the protein skimmer’s intake pump can significantly increase the efficiency of the system by helping it remove the nitrate laden bacteria. * A high quality UV sterilizer will damage the bacteria’s DNA and keep it from reproducing which could slow down your results and inhibit the effectiveness. If you own a low quality UV sterilizer the benefits are pretty minimal to begin with so we recommend completely removing it from the system. If you have invested in a high quality UV sterilizer we feel the benefits are substantial so you should try and incorporate it into your system rather than remove it. We recommend turning the UV sterilizer off until you have achieved results with the bio pellets and then turning the UV sterilizer back on. * Some aquarists believe potassium could be a limiting factor. We recommend levels around 380ml/l . With this system this can typically be achieved with a quality salt mix and a reasonable water change schedule. * We recommend keeping the reactor in a dark area to limit the amount of other organisms living inside the reactor itself. * In general the best method to control nitrate is paying close attention to the quantity and types of foods used. In this case we believe maintaining a stable supply of food could also be helpful. Feeding the same amount at the same times of the day will help stabilize the food supply for both the bacteria and your tanks inhabitants. For instance if you feed every weekday, but are gone weekends this might produce instability in the food chain for the bacteria and resulting populations. A good automatic feeder could help with this. * The speed at which the media tumbles will have an effect on the system because it is a combination of two things, contact time with the media and the amount of times a day the entire system water volume passes through the reactor. Every tank is going to have a sweet spot in terms of contact time with the media and how many times the entire water volume should pass through the reactor each day. In general we recommend trying to maximize the contact time with the media which means tuning the reactor so 100% of the media is just barley tumbling. Going slower runs the risk of the bio pellets sticking together with biofilm. Faster flow reduces contact time, but increases system turn over. Please feel free to experiment with this after the 8 weeks. The absolute best advice we can give with this system is to set it up and forget about it for two months. Unless something is obviously not right resist all temptation to make any changes until the two months are up. *One note: Some aquarists experience a bacterial bloom when first starting this system which clouds the tank for a few days. The cloudy water is largely more scary than it is harmful but it can reduce the oxygen levels in the tank. If you do experience the bacterial bloom we recommend aiming a few powerheads at the surface of the water to maximize gas exchange. Feeding the effluent of the bio pellet reactor directly into the protein skimmer or near the protein skimmer’s intake pump will also help with this. BRS Bio Pellets are PHA Bacteria Boosters As we predicted, discount or bulk sellers are now getting into the solid carbon dosing or BioPellet game. Most notably, Bulk Reef Supply (BRS). Based on the limited number of suppliers, we feel safe in guessing that the BRS Bio Pellets are PHA or Polyhydroxyalkanoates. Seeing as most of the PHA suppliers do not give significant discounts on the type of volume the aquarium industry turns over, it will be interesting to see how aquarium companies price and distinguish themselves. Currently 500ml of BRS BioPellets will cost you $38.99 which is spot on to pricing for the Vertex Pro BioPellets (also PHA). Likewise, for 1000ml both products come in at approximately $70 USD. Interestingly BRS, notes the importance of contact time with their product. Initially biopellets were marketed as safe, and unable to be overdosed. This is not the case. “Dosing” with these biopellets is a function of surface area and water turn over, or contact time. “Dosing” of BRS Bio Pellets: “The speed at which the media tumbles will have an effect on the system because it is a combination of two things, contact time with the media and the amount of times a day the entire system water volume passes through the reactor. Every tank is going to have a sweet spot in terms of contact time with the media and how many times the entire water volume should pass through the reactor each day. In general we recommend trying to maximize the contact time with the media which means tuning the reactor so 100% of the media is just barley tumbling. Going slower runs the risk of the bio pellets sticking together with biofilm. Faster flow reduces contact time, but increases system turn over. Please feel free to experiment with this after the 8 weeks.”

Reef Octopus biopellet reactors showcase innovative bottom cone Posted on October 18th, 2010 by Brian Blank Reef Octopus appears to be releasing a biopellet reactor sometime soon and we were surprised to see an innovative feature on these reactors. These images of the Reef Octopus BP Reactor show a nifty acrylic inverted cone at the bottom with the aquarium water being fed directly into the center of the cone allowing a consistent turnover of the bio pellet media within the chamber. As the water is fed down to the cone, the pellets are able to dance from the flow. Coupled with the constant movement of the pellets and gravity forcing the pellets down the cone towards the water inlet, your biopellets will be in constant motion eliminating inconsistent areas of flow. The Reef Octopus BP reactors have acrylic knurled thumb screws to allow easy access to change or add media or get in there to clean out the reaction chamber. As we mentioned before, the water inlet comes through the top-center of the reactor and features a barbed hose fitting and union connection which should make cleanup and connection a snap. The effluent outlet is high on the body with a similar barbed hose fitting and union connector. One thing these reactors don’t appear to have is some sort of screen or plenum at the top to prevent errant pellets from exiting with the effluent. While this may not be a deal breaker, sometimes pellets can float when first introduced inside the reactor. This could probably be remedied by soaking your pellets for a few days prior to dumping them into the reactor. The Reef Octopus BP reactors are shown in three different sizes and while we weren’t able to dig up any stats on these, they should fit in a variety of applications to suit you needs from nano and smaller aquariums, to even the larger tanks of some hobbyists. Most likely you will have to supply a small, low-flow pump to feed the reactor. No word yet on availability or pricing, but Reef Octopus is known to have pretty decent pricing making it a good deal for reefers on a tight budget that are looking to add biopellets to their system.

Interesting Write-Up. Good Info.

China wants looted Summer Palace relics returned AFP - 1 hour 11 minutes ago BEIJING (AFP) - – China has renewed a call for the return of relics looted from the Old Summer Palace in Beijing 150 years ago -- an act seen as a cause of national humiliation at the hands of Western armies. The Yuanmingyuan, a summer resort garden for the emperors of the Qing Dynasty (1644-1911), was pillaged by a joint British and French military expedition during the second Opium War on October 18-19, 1860. Cultural officials have urged private collectors in China to forgo profits from the antiquities trade and return the looted relics, the China Daily reported Tuesday. The Yuanmingyuan park authority has also called on museums to return such items, and for a boycott on auctions featuring relics, the Global Times added. A petition has been started in support of the effort, and martial arts film star Jackie Chan will act as a celebrity spokesman for the cause, it said. A statue of French literary giant Victor Hugo was also erected on the Yuanmingyuan grounds in commemoration of his strident opposition to the looting and burning undertaken by the joint military force. "At least 1.5 million relics from the Yuanmingyuan have either been looted or otherwise lost over the years," the China Daily quoted Chen Mingjie, head of the Yuanmingyuan park administration, as saying. Xinhua news agency, citing the UN cultural body UNESCO, said some 1.64 million Chinese relics are housed in more than 200 museums in 47 countries, some of which are believed to have been looted from the Yuanmingyuan. In recent years, cultural relic experts from China have sought to categorise and bring back looted Chinese antiquities, but their efforts have been waylaid by legal and historical obstacles, the China Daily said. In February 2009, two bronze fountainheads looted from the palace that belonged to late French fashion designer Yves Saint Laurent and his partner Pierre Berge were auctioned at Christie's for about 20 million dollars each. The sale enraged Beijing, which accused the house of regularly selling smuggled Chinese relics. The mystery Chinese bidder later said he would not pay and the items were returned to Berge. The approximately 100 years that followed the sacking of the Yuanmingyuan represented some of China's darkest days, the English-language Global Times, the sister paper of the Communist mouthpiece People's Daily, said in an editorial. But "the fall of China has been reversed... what happened 150 years ago to the Yuanmingyuan will not be repeated in China with its strong military."

Scientists say Asia's corals dying on mass AFP - 23 minutes ago SYDNEY (AFP) - – Coral reefs in Southeast Asia and the Indian Ocean are dying from the worst bleaching effect in more than a decade, Australian marine scientists said Tuesday. The bleaching, triggered by a large pool of warm water which swept into the Indian Ocean in May, has caused corals from Indonesia to the Seychelles to whiten and die, Australia's Centre of Excellence for Coral Reef Studies said. Reefs in the Philippines, Sri Lanka, Myanmar, Thailand, Malaysia and Singapore were also affected by the phenomenon under which sea temperatures rose by several degrees Celsius in Indonesia, researcher Andrew Baird said. "It is certainly the worst coral die-off we have seen since 1998. It may prove to be the worst such event known to science," he said. Baird, a fellow at James Cook University, said the magnitude of the event was so large, and the ocean temperatures in some places raised so much higher than normal, that it was "almost certainly a consequence of global warming". He said for six to eight weeks from mid-May the temperatures were high enough to cause bleaching of the corals in Indonesia's Aceh, the area worst hit by the event. "You jump into the water and you are just surrounded by white and dead corals," he said. "It is an extraordinary sight. The locals tell us they have seen nothing like this before." Baird said the massive die-off was expected to compare in scale and magnitude to the damage caused in 1998, when warmer water bleached reefs globally and about 16 percent were seriously degraded. "This is the second big global bleaching event that we have documented," he told AFP. "The scale of the event is so large that it is going to take reefs a long time to recover," he added. The bleaching is caused by the warm water sweeping over the reefs, shocking the corals and causing them to shed the algae which nourish them. If corals fail to regain their algae, they starve to death. Baird said it was too early to say whether Australia's Great Barrier Reef, a major tourist attraction swarming with marine life, would be damaged but that he expected bleaching to affect reefs in the Andaman Sea and central Pacific. "Once the reef dies you lose both live coral cover, which lots of fish need... but then everything that feeds on them will disappear as well," he said, adding that he expected some fish species to decline within a year. He said in Aceh alone, an area with some unique marine creatures, there would be a loss of biodiversity. "There's a very good chance that there will be some local extinctions both of endemic fish and of coral," he said. Baird said the reefs could take years to recover, heavily impacting fishing and tourism in the region and could become a security issue. "It's one of the reasons that countries like Australia need to act quickly and decisively on climate," he said. Scientists say corals are vital to marine life because they provide habitats for a vast variety of creatures and absorb large levels of poisonous carbon dioxide.

Torres suffering crisis of confidence, says Hodgson Reuters - Monday, October 18 LONDON - Liverpool have welcomed new owners to Anfield but until they find the Fernando Torres of old, England's most successful club are likely to continue to struggle on the pitch. The Spain striker has scored once in 10 appearances this season, a statistic that goes some way to explaining why Liverpool are second from bottom of the Premier League after losing 2-0 at Merseyside rivals Everton Sunday. Torres is by no means the team's only problem, but Liverpool are sorely missing his assured finishing and ability to create goals out of nothing. He scored 22 times for the team last season but, after suffering injury problems returned only in time to play a bit-part in Spain's World Cup triumph. "He got battered in the World Cup for his performances for Spain and I think mentally he's a little bit low and he needs a goal or two to get his confidence back," Hodgson told Sky Sports. "Certainly I had no qualms about his performance . The chance at the end, if that had gone in, maybe that's the catalyst he needs to take him over the edge and get him playing at his very best. "Fernando is going through a bad time, his confidence is low, he needs a goal, so if you are talking about him, I would have to agree." It contrasts sharply with previous seasons. In 2008-09, Liverpool finished second to Manchester United and Torres scored 14 times in the league. Liverpool's new owners, John W Henry and Tom Werner of New England Sports Ventures, were at Goodison Park for the derby defeat and it might not be long before Hodgson is asking them to release funds for players. "The January transfer window is still two and a half months away and there is a lot of football to be played before then," Hodgson told reporters. "We have the squad of players we have and, hopefully, they will work and win some games."

'Rainy Days' are here again...??? Singapore could be in recession in H2 - government Reuters - Tuesday, October 19 SINGAPORE, Oct 18 - Singapore could see a technical recession in the second half of 2010 as the global economic recovery remains subdued and planned drug plant shutdowns could hurt the manufacturing sector, the government said on Monday. The government also said it was closely monitoring local property prices to ensure no bubble was formed. The economy remains on track to achieve the growth forecast of 13-15 percent for the full 2010 year, Senior Minister of State for Trade and Industry S Iswaran said in parliament. "A 'technical recession' -- which analysts define as two consecutive periods of negative quarter-on-quarter growth -- could happen in the second half of the year," he said. "If this happened, it would largely be a reflection of the sharp swings in the biomedical manufacturing cluster." In the July-September period, the economy fell 19.8 percent from the previous quarter on a seasonally adjusted annualised rate, the largest contraction since the data was first collated in 1975. However, continued growth in global demand for electronic products will lend support to the electronics and precision engineering clusters and a surge of visitor arrivals to Singapore will continue to bolster tourism-related sectors, Iswaran said. Minister for National Development Mah Bow Tan told parliament the government was monitoring the property market closely and would "act fast to pre-empt problems". in August, Singapore announced restrictions on people buying second homes as part of new measures to cool its red-hot residential market, joining Hong Kong and China in taking steps to keep a lid on housing prices. Mah said the measures had dented resale transactions in September from August , but he could not say whether the government would need to introduce more measures in the future. (Reporting by Nopporn Wong-Anan; Editing by Raju Gopalakrishnan)

Fabregas returns for Arsenal Champions League tie AFP - 34 minutes ago LONDON (AFP) - – Arsenal captain Cesc Fabregas could make his comeback from injury after being named in the Gunners squad for their crucial Champions League tie with Shakhtar Donetsk on Tuesday. Arsenal boss Arsene Wenger confirmed the return of the Spanish midfielder, who has been sidelined with a hamstring injury since last month, at a press conference here Monday. Winger Theo Walcott, who injured an ankle on England duty last month, has also been named in the squad along with striker Nicklas Bendtner, who had been nursing a groin strain. Wenger however said he was unsure whether Fabregas would start. "Cesc has prepared well. He had a little setback, but got over the hurdle and is ready to play at full fitness, but whether I start him or not, I do not know yet," Wenger said. "It will be whether I take a gamble or not, because he has been out for a long time. "But physically he is ready and fit - and wanting to play. You know his influence on our team, he is our leader, our passer, he has a good level of assists and a good goalscoring record. "Ideally you want him in the team." A victory for the Gunners at the Emirates will leave Wenger's team three points clear at the top of Group H, which they currently lead on goal difference from Shakhtar after both sides won their opening two matches. "It is a key game because it gives us an opportunity to basically think we have qualified," Wenger said. "In this group until now you had 12 points at stake - six went to Shakhtar, six went to Arsenal. That means what is at stake is the qualifying and also the top of the group, which is why it is a very important game. Wenger meanwhile declined to comment on the saga embroiling Manchester United striker Wayne Rooney, who is the subject of intense speculation about his future at Old Trafford. "What I make of it is that I have enough problems here not to be involved in that," Wenger told reporters. "We are not in a transfer period at all. "We are in front of a big Champions League game and for us it is very important to focus on that. "Then again, any little incident at Manchester United or Arsenal becomes a big story, but it doesn't mean that there is something real behind the story. "Maybe yes, maybe no - but I don't know enough to be involved in that." Wenger, however, said any departure of Rooney would not necessarily change the complexion of the Premier League title race. "Chelsea won the championship last year. Rooney was at Manchester United and that didn't stop Chelsea from winning the championship," he said. "What is important is that you perform well.

Rooney's place on periphery needs urgent resolution Reuters - 2 hours 42 minutes ago By Mitch Phillips LONDON - In eight months Wayne Rooney has plummeted from "the best player in the world" to a substitute against West Bromwich Albion and his current position on the Old Trafford periphery will need to be sorted out very soon. Manchester United's fans -- and their American owners -- do not expect the England striker to be warming the bench, particularly when the player says he is fit, even if manager Alex Ferguson says otherwise. Media suspect a falling-out with Ferguson but United issued a statement on Sunday describing as "nonsense" suggestions that the striker, bought from Everton for 25 million pounds in 2004, was about to be sold. It may be harder to deny, however, that his relationship with Ferguson is not completely harmonious. Rooney certainly did not resemble on Saturday a man who appreciated being "rested" by his boss. His argument, according to media on Monday quoting unnamed "sources," is that he can never rediscover the form which marked him out as one of the global game's top players without actually getting match practice with his club. Rooney's contract, reported to earn him around 90,000 pounds a week, expires at the end of next season. If, as the newspapers claim, he is refusing to sign an extension, United might have to consider trying to recoup some of their outlay before he becomes a free agent in June 2012. It is quite a contrast from last season, when Rooney scored 34 goals. Observers queued up to describe Rooney as vying with Lionel Messi for the "best in the world" tag but it all started to go wrong when he twisted his ankle in the last minute of a Champions League match against Bayern Munich at the end of March. He came back too soon, clearly unfit, and did not score again all season. Instead of the World Cup becoming his crowning glory, it became an albatross around his neck as he stumbled from game to game looking jaded and desperately out of touch. He looked little better in his return to the Premier League before stories about his private life broke, claiming he had been unfaithful with a prostitute while his wife was pregnant. Ferguson left him out of United's game at Everton in September, saying he wanted to spare him the vitriolic taunts of his former fans, then also left him out of the team against Valencia, saying he had an ankle injury. Rooney, whose only United goal this season was a penalty and who last scored for them in open play in March, hit back last week saying he was fine, had not missed a day's training and did not know why his manager said he was injured. Having shipped out the likes of David Beckham, Paul Ince, Jaap Stam and Ruud van Nistelrooy after differences of opinion, Ferguson has shown that he is unsentimental when it comes to personnel problems and the next few weeks of the Old Trafford soap opera are going to make fascinating viewing.

GAME OVER ??? Rooney 'ready to quit' United: reports AFP - 1 hour 11 minutes ago LONDON (AFP) - – The future of Wayne Rooney dominated media reports here Monday as speculation mounted that the Manchester United superstar was set to leave Old Trafford following a rift with Sir Alex Ferguson. Although Manchester United officials have dismissed talk of Rooney being sold as "nonsense," the denial failed to halt an avalanche of media coverage stating the player was determined to quit the English giants. Several newspapers reported that Rooney's previously close relationship with Ferguson had deteriorated irrevocably following a bust-up over lurid tabloid revelations about the striker's private life which emerged last month. The Times cited unidentified sources as saying Rooney and Ferguson had "not had a civil conversation for weeks." The Daily Mail said Rooney now wanted to leave as soon as possible, saying the England star felt aggrieved by a perceived lack of support from Ferguson over reports alleging he cheated on his wife with prostitutes. Ferguson chose to rest Rooney for the match immediately following the scandal, against Everton, and has since left him out of the starting line-up for games against Sunderland, Valencia and West Bromwich Albion. The first sign of a rift between the pair was exposed last week when Rooney openly contradicted Ferguson's claim that he had been nursing an ankle injury, saying he had not missed a training session all season. That defiant statement has been viewed as a declaration of war by Rooney, who has less than two years left to run on his existing contract with United and who is valued at around 50 million pounds. If Rooney is determined to leave, United -- who have debts totalling more than 700 million pounds -- will be forced to cash in while they can or risk him leaving for nothing in 18 months time. While Ferguson has not been afraid to off-load star players in the past -- getting rid of Paul Ince, Jaap Stam, David Beckham, Roy Keane and Ruud van Nistelrooy -- Rooney's exit would be unprecedented, the Mail commented. "Rooney is different not just because he is the one reaching for the eject button, but because he remains in his prime and the most important member of the United team," the paper noted. "If Rooney leaves it would blow a gaping hole in not only Ferguson's front line but also in the morale of the team." The Times meanwhile identified Real Madrid and Manchester City as the likeliest suitors in any race to sign Rooney, nothing that Real manager Jose Mourinho was a long-term admirer of the player. The prospect of Rooney crossing Manchester to sign for City -- a transfer which would horrify United fans -- was also possible, the Times said. "If hypothetically speaking, the situation has not been resolved by January and City offer 45 million pounds for a player who is at odds with his manager and whose contract is running down, could (United) really say no?," the paper asked. However Real Madrid sporting director Jorge Valdano sought to dampen down speculation of a move for Rooney, saying Monday the Spanish giants would not be looking to add to their squad in the winter transfer window. "In January, there will be no new arrivals and no departures," he told Spanish television channel Telemadrid in an interview quoted by AS sport daily. "Real already have two great forwards: (Gonzalo) Higuain and Cristiano (Ronaldo). There's also (Angel) di Maria and (Mesut) Oezil who support the forwards. Who would we drop?"

Veri NICEeez mate !

Van der Sar blunder costs United as Chelsea held Reuters - Sunday, October 17 By Mitch Phillips LONDON - Manchester United threw away a 2-0 lead after a Patrice Evra own goal and an error by Edwin van der Sar saw them held 2-2 by West Bromwich Albion while Premier League leaders Chelsea drew 0-0 at Aston Villa Saturday. Chelsea, who hit the woodwork twice late in the evening game, top the standings with 19 points. United, who started with striker Wayne Rooney on the bench, have now drawn five of their eight league games and are among four teams on 14. Arsenal, who came from behind to beat Birmingham City 2-1 at the Emirates, and Tottenham Hotspur, who ended Fulham's unbeaten start with a 2-1 win at Craven Cottage are level with United. Sunday, Everton play Liverpool in the highly-anticipated derby . At Old Trafford, United looked to be cruising having taken a 2-0 lead after 25 minutes but Evra's own goal and a rare blunder from goalkeeper Van der Saar, who dropped the ball at the feet of Somen Tchoyi, saw the home side pegged back. Rooney played in England's goalless draw with Montenegro on Tuesday and said after the match, contrary to the claims of his club manager Alex Ferguson, that he was fully fit. Fit or not, the striker was among the substitutes against West Brom and Ferguson looked to have got it right when Rooney's replacement, Javier Hernandez, tapped in after goalkeeper Scott Carson dropped a Nani freekick in the fourth minute. The Portugal winger then added a second on the break. West Brom, who won at Arsenal last month, continued to press though and within 10 minutes of the restart they were level. VAN DER SAAR BLUNDER United defender Nemanja Vidic was inches away from making it 3-0 when he headed against a post but moments later it was 2-1 courtesy of Evra's own goal. Then the usually reliable Dutchman Van der Saar, faced with the simplest of catches, let the ball slip from his grasp to Tchoyi who gleefully equalised for the hard-working visitors. Rooney eventually joined the fray for the last 20 minutes, but played on the left wing and made little impact as West Brom ended the game looking the more dangerous side. "It has gone from a fantastic first-half performance to giving the game away really, it should have been four or five by halftime," Ferguson told Sky Sports News. "We've made some glorious chances and it's frustrating we are not killing teams off. It's not acceptable for the supporters or me." Of Van der Saar's blunder, he said: "Inexplicable, it's a mistake that Edwin probably would make the only time in his life. The last time he made a mistake like that was probably at primary school." A win for Chelsea would have taken the champions seven-points clear but, without several injured players including forward Didier Drogba, they were below par. Branislav Ivanovic and Nicolas Anelka hit the woodwork but so did Ciaran Clark for hard-working Villa. Arsenal fell behind to a Nikola Zigic header, levelled with a Samir Nasri penalty and took the points with Marouane Chamakh's impressive run and shot just after the break. The win was spoiled at the end with a straight red card for Arsenal midfielder Jack Wilshere after a wild tackle that will have embarrassed manager Arsene Wenger, who used his program notes to bemoan the decline in tackling standards. "He got the red card he deserved," said Wenger. "But it was his first tackle in the game and you have to acknowledge that he got a red card and he deserved it but he didn't spend the whole game kicking people, he didn't want to harm the player -- he mistimed his tackle." Spurs also trailed to a Diomansy Kamara goal but Roman Pavlyuchenko quickly levelled and Tom Huddlestone won it with a crisp, low shot although Fulham were furious it was allowed to stand after the referee ignored a linesman's offside flag.

'We played well,' says downcast Liverpool manager AFP - 41 minutes ago LIVERPOOL (AFP) - – Beleaguered Liverpool manager Roy Hodgson claimed his team had performed well in their 2-0 defeat at Everton in Sundays Merseyside derby and looked to the future with muted optimism. The league table made less happy viewing for Liverpool, of course, as the loss left them rooted in the bottom three of the Premier League with just six points from their first eight games. However, with new American owners under the leadership of John W. Henry, now in command at Anfield, Hodgson has some cause to look forward to the remainder of what has so far been an instantly forgettable season, although the manager did concede he had been unable to deliver a dream start to his new employers. "Of course I feel that disappointment," he said. "This would have been an ideal opportunity to really turn things around on the back of a positive response to our new owners, the way that news has been received. To get a result would have been utopia but I can only analyse the performance. "There is no point attempting to analyse dreams. The dream was we would come here on the back of new owners and win the game. We had to play the game to do that and, in my opinion, we played that game as well as we have played a game this season." Spanish striker Fernando Torres, the club's talisman in good times, appears to lack confidence and sharpness at present although Hodgson was unwilling to accept that any more of his players were in such a state. "Youre talking about one player," said Hogdson. "Fernando is going through a bad time, his confidence is low, he needs a goal, so if you are talking about him, I would have to agree. "But I wouldnt say it of too many more. People are playing under pressure, thats the bottom line when you have six points from eight games, and every game we dont win, the pressure builds up even more. "That will affect confidence in the long run but I have to say I thought it was a sterling performance that the players gave in the second half." Hodgson is expected to meet with his new owner early this week to discuss short-term plans and, more pressingly, the January transfer window. "We think there are still a lot of things that need sorting out at the club off the field," said Hodgson. "And at the level outside the football field I am sure they will help there, when they come and look around. They will find ways and means of aiding us in that area. "The January transfer window is still two and a half months away and there is a lot of football to be played before then. We have the squad of players we have and, hopefully, they will work and win some games." Opposite number David Moyes won his first Merseyside derby in four years at the end of a week in which he watched events off the field shrouding Liverpools ownership and sale with curiosity. Despite never having huge amounts of money to invest in his playing staff, Moyes declared himself more than happy to be working for owner and chairman Bill Kenwright. "It isn't all about money," said Moyes. "If we all wanted football to be about money then maybe we wouldnt enjoy it as much. Were not all going to be able to have it. "Am I jealous? Yes. But I wouldnt swap my chairman for anyone, from America or Saudi Arabia or anywhere else. My chairman is a supporter; he backs his manager; he is behind me and supported me which is really important for any manager."

Five reasons why you should buy a property now By iProperty.com Singapore – October 15th, 2010 With house prices on the rise, despite the new cooling measures, is now really the right time to buy a property? Award-winning property agent Kelvin Fong thinks so. Here are his five reasons why buying a property today could be the best decision you ever make. 1. Low interest rates People with money to invest can use the current low interest rates – which are as low as 0.88% at present – to leverage a passive income from their purchased property. In fact, the returns from a property can be more than what a bank’s fixed deposit account can offer. For example, a unit at Southbank costing about $1.2million could generate a rental income of about $4800 per month, while the mortgage is about $3000. The buyer would enjoy a passive income of $1800 per month, as compared to depositing it in the bank to get 0.4% of around $1000 per year. 2. Property is an appreciating asset (eventually) Barring any dramatic economic upheavals, property prices will likely stabilise or slowly, but progressively, increase from now till 2011. Most sellers will not want to sell at a lower price today, and will not suffer when paying a relatively high mortgage due to low borrowing costs. The 30% down payment rule will actually act as an incentive because purchasers, having come up with this capital, will not want to sell. Provided you do not sell your property during the downturn – as you will almost inevitably lose money on it – the value should increase. The key is that the buyer must have holding power when the market deteriorates and should not buy until they have the holding power to weather any market conditions. Prices will eventually rise again – as witnessed in 2008, when prices were down but did eventually rise to and, in some cases surpass, the 2007 peak. 3. Assets beat playing the market Many people will choose to purchase an asset like property because the market liquidity – essentially the asset’s cash value – is still strong and, due to the last financial crisis in 2008, people felt safer putting the money in asset rather than financial instruments. The asset will always be there, and even when market conditions are not as good, as long as you do not sell it, you will not lose money. 4. Market conditions don’t matter Buyers who are looking at property as a long-term investment will be less concerned about the market’s movement up or down.. Property will – nearly always – appreciate in the long term in Singapore due to the scarcity of land and available real estate. While having a diverse portfolio is preferred, as a long-term investment, property is generally going to make more money than other comparable instruments. Investing in bonds, for example, is a safe investment instrument, but capital appreciation is weak. Property is not the ideal market for speculators though – not only has the government introduced measures to discourage property speculation – but you will be much more at risk of market fluctuations. 5. Property keeps on giving Buying public housing in today’s market is not cheap, with HDB’s executive condominiums going at around $600 – 700psf, close to mass market private property prices. A HUDC unit has already reached the $1 million mark, and the trend looks set to continue. Parents may see buying an asset, not only as a hedge against inflation, but also as an eventual inheritance to their children. If house prices continue to rise – and with the cost of construction materials inevitably going to rise too – there is the fear that the younger generation could be priced out.

Booze cheaper than water in New Zealand: study AFP - Friday, October 15 WELLINGTON (AFP) - – Alcohol has become cheaper than bottled water in New Zealand, a study showed Friday, with researchers warning there could be major implications for public health. Otago University researchers found wine cost as little as 62 cents (47 US) per standard drink, compared to 67 cents for 250ml of bottled water and 43 cents for the equivalent amount of milk. The study, published in the New Zealand Medical Journal, also found the relative price of alcohol had plummeted over the past decade as average wages increased. "Our analysis suggests alcohol is now probably the cheapest recreational drug in New Zealand and has become increasingly affordable, at the same time as concern about binge drinking culture has grown," associate professor Nick Wilson said. "International scientific evidence strongly indicates that cheap alcohol is a factor in promoting binge drinking by young people, and in increasing the overall size of the health and social harm from alcohol misuse." He said heavy discounting at supermarkets and liquor stores was exacerbating the problem, making alcohol more readily available. A grape glut in New Zealand has driven down the price of wine in recent years as winemakers seek to offload excess stock. Wilson and co-researcher Fiona Gunasekara said cheap alcohol was taking a toll on New Zealanders' health and placing a burden on the publicly-funded health system. They argued the government should adopt the same policies that helped curb tobacco consumption -- raising taxes and controlling marketing and sponsorship activities, as well as limiting the opening hours of retailers. The researchers also called for a minimum price per unit of alcohol, particularly in cask wine and alcopops. "These policies will have little impact on moderate drinkers and will help curb the down-side of New Zealands binge drinking culture," they said.

Premier League - Bitter Liverpool battle returns to Texas court Fri, 15 Oct 06:33:00 2010 The fierce battle surrounding the ownership of Premier League club Liverpool returns to the unlikely setting of a Dallas county court on Friday in what could be a decisive day in the trans-Atlantic legal stand-off. The finances of one of England's finest soccer clubs have became a very American matter with the current and prospective owners hailing from North American sports backgrounds. Liverpool, five-times European champions, are co-owned by Americans Tom Hicks and George Gillett but the club's board want to sell the team to New England Sports Ventures, the owners of Major League Baseball's Boston Red Sox. Hicks and Gillett believe the sale, agreed by independent directors on the club board, for £300 million to NESV, undervalues the club - one of England's most famous sports teams and a global brand. Billionaire Hicks previously owned a Major League Baseball team, the Texas Rangers, and still owns the Dallas Stars NHL franchise, while Gillett owns NHL's Montreal Canadiens. The 160th District Court in Dallas on Wednesday imposed a temporary restraining order on Liverpool's chairman, Martin Broughton, the Royal Bank of Scotland, which is the club's major creditor, and NESV which is owned by John Henry. On Thursday, a high court judge in London responded by granting an injunction to restrain the Dallas court ruling, saying the case had no connection to Texas. The judge gave Hicks and Gillett until 16:00 (UK time) on Friday to comply with his orders and, with the case in Dallas due to start at 13:00, that leaves little time for the matter to be resolved before the deadline. In Dallas, the two parties were in front of Judge Jim Jordan to argue over whether the restraining order should stay in place and to deal with a contempt of court motion from the Hicks team. That motion called for the jailing and fining of Liverpool chairman Broughton and the other defendants for ignoring the order and heading back to the High Court. On Friday, the judge will have to decide whether or not to maintain or dissolve the restraining order on the sale. It may seem odd that a court in Dallas has any role in the affairs of a football club from north-west England and for a district court in Texas to be able to contradict the High Court in London but the issue of jurisdiction is complex. "They don't have to stop. A U.S. court only has to listen to a court above it," said Stephen Lubben, a law professor at Seton Hall University School of Law in Newark, New Jersey. "There is no obligation for the Texas court to follow the British court but when you have a pre-existing British case involving a British company I think the right thing to do is for the Texas court to back down," Lubben said. Hicks and Gillett are hugely unpopular with Liverpool fans due to the club's debt problems and Friday is also deadline day for the refinancing of the debt they have piled on the club. Should the debt repayment not be made, Liverpool risk being taken over by RBS who could conduct the sale themselves. That might result in the holding company of the club being briefly put into administration which carries a nine-point deduction penalty according to Premier League rules. Reuters

Tom and George's Epic Fail Thu Oct 14 08:40AM After seeing the Montenegrin media whoop and holler in the Wembley press box on Tuesday night, it's nice to know that international football is still fun for some people. But Early Doors for one can't wait until the Premier League action resumes this weekend. Not because the latest round of domestic fixtures brings with it Bolton v Stoke - although that is one fixture Danny Murphy will no doubt follow with interest - but because by 3pm on Saturday the issue of Liverpool ownership should be resolved. No more cosy fireside chats with Uncle Tom or watching George flash the Benjamins like he's 50 Cent. No more shambolic fan protests or star-studded, worthy YouTube rants. And definitely no more tiresome legal wranglings. Right? Ah, well, about that... it seems that the Yank version of The Krankies are determined to stretch ED's memory of its AS Level law studies (which consisted of little more than being handed a Ladybird book entitled 'My First Litigation') to the limit. Things all looked to be moving along so nicely yesterday after chairman Martin Broughton and directors Christian Purslow and Ian Ayre emerged victorious from the High Court on to The Strand in London. Broughton was keen to get back to work on a sale as soon as possible, though he stops short of confirming who that deal would be with. John Henry arrived in the UK to wrap up the deal claiming NESV had a "binding agreement" with the club amid interest from other, higher-bidding parties. Steven Gerrard was just happy to talk about something else other than England. But last night it emerged that Tom Hicks and George Gillett have obtained a temporary injunction from a Texan court in their continuing efforts to block the sale of the club to New England Sports Ventures, which they describe as an "epic swindle". Not only that, but they have snuck in a claim for $1.6 billion (£1.13bn) into the bargain. This whole affair is now officially a billion-dollar mess, and a headline writer's dream. Mind you, seeing as they were ordered to pay all court costs by Mr Justice 'Pretty Boy' Floyd when they lost their High Court case against major creditors Royal Bank of Scotland yesterday, who can blame them? Already scrambling to avoid taking a personal hit of more than £70 million each, the pair will do their utmost to escape any further damage. After all, they are both successful businessmen, and they are within their rights to try and limit the damage caused by a venture that has gone bad. They may find their late bid to stop the "epic swindle" will end, just like their tenure at Anfield, in an epic fail - but you can see their motivation. With the repayment deadline imposed by RBS expiring tomorrow, it is tempting to see the current owners' actions as a bitter attempt to bring down the club by way of vengeance, but the logic of that just doesn't add up. Hicks and Gillett seem aghast that these evil men from the bank would seek to barge in and steal the club from them. Surely they must have realised that was a possibility when they kept on borrowing just to keep it in their hands? If you keep using a multi-million pound business as collateral to the point where the bank brings in its own man as chairman, with the clear objective of selling the club, you can't be surprised when you're not the main beneficiary of any deal that is agreed. It will be interesting to find out, as hopefully we will, if any of these supposed larger offers were real, and why they were refused in favour of NESV's. After all, what do RBS have to gain from seeing their debtors all right once they have reclaimed their money? It is, after all, a bank. A bank that wants its debt paid in full. Why should they care what happens to those who borrow money from them, as long as it secures the best possible chance of seeing a return on its investment? Why would a High Court judge rule that Hicks and Gillett had no right to sack the board if it were not the case? And, most bafflingly of all, when did a bank and its representatives become the good guys? This is the best PR the industry has had in years. Just a shame that it has come in the same week as Wall Street II has hit our screens. We will soon find out just how much water the Texan restraining order holds in Britain. Liverpool fans will be hoping they find out before end of business tomorrow, otherwise the three points the team desperately needs from Sunday's derby trip to Everton will be the least of their worries.

Premier League - Liverpool ownership deal rumbles on Thu, 14 Oct 18:15:00 2010 Liverpool's ownership battle rumbled on as the High Court ruled against Tom Hicks and George Gillett, only for the American pair to demand the club's chairman be jailed for contempt of court. A High Court ruling on Wednesday had set up Liverpool to be sold for £300 million to New England Sports Ventures, before Gillett and Hicks obtained a temporary block in a Texas district court. In response, lawyers for chief creditor Royal Bank of Scotland went back before the judge in London and he granted an injunction to restrain the Dallas court ruling, saying the case had no connection to Texas. Undaunted, Hicks and Gillett returned to the Dallas court, filing for contempt and demanded that chairman Martin Broughton and other defendants be filed and jailed. That case was adjourned and will resume on Friday - three hours before the High Court's deadline for the American duo to comply with their ruling. Amid the trans-Atlantic legal wrangling, rival Singaporean bidder Peter Lim announced he was pulling out of his £320m offer. The latest, and most extraordinary, day in the saga of which American businessmen own a football club in the north west of England began with lawyers for RBS - who are attempting to secure the repayment of £240m in loans - returning to the High Court. In front of the same Judge, Mr Justice Floyd, who ruled in their favour on Wednesday, they sought an injunction to stop the club's American owners continuing with their US legal action. "It is an abuse of process, unconscionable and an affront to justice... a plain attempt to frustrate and impede the proceedings," the Press Association reported Richard Snowden QC, for the bank, as saying. "Plainly it is a bid to frustrate this court in the exercise of its jurisdiction." Snowden added that Hicks and Gillett's claim that they were victims of an "epic swindle" and "grand conspiracy" over the club's sale were "wild and scurrilous" assertions with no evidence to support them. The Judge found in the bank's favour, saying that his ruling was not aimed at the Dallas court but at Hicks and Gillett and gave the duo until Friday to comply with his orders. "The owners' behaviour conclusively demonstrates just how incorrigible they are," he said. "They are absolutely determined to stop this transaction in its tracks and they have no lawful justification for behaving in this way." While all this was happening Lim, frustrated and angry that his bid had been ignored, withdrew his £320m offer. "It has become clear to me that the board is intent on selling the club to NESV to the exclusion of all other parties, regardless of the merits of their bids," the Singapore businessman said in a statement. If RBS and the Liverpool board thought that their High Court victory and the strong words of the judge would force Hicks and Gillett to cave in, they soon found otherwise as the duo, who on Wednesday claimed overt £1 billion in damages, immediately filed a motion for contempt." The motion asked for the "incarceration of defendants until they cure themselves of contempt and fine the defendants for their actions" and requested a daily fine of $50,000 be imposed until the contempt of court was ended. The case was adjourned and will reconvene on Friday, just as Liverpool manager Roy Hodgson holds his regular news conference to preview the weekend's match. On Sunday Liverpool face city rivals Everton but for once the cherished derby will be relegated to "any other business" on an agenda dominated by the billionaires' battle for ownership. Reuters

How Fergie inspired Mourinho to come to England Wed Oct 13 02:10PM Ask most Manchester United fans who they would like to see replace Sir Alex Ferguson and the name you will hear most frequently is Jose Mourinho. There's not absolute conviction, just as Real Madrid fans were not convinced when his name was first linked to their club earlier in the year, but if anyone is big enough to step into Ferguson's shoes, it's the Special One. Mourinho said last week that he considered Madrid to be the biggest team in the world, saying that when they travel it's like the Beatles arriving in San Francisco. He stated also that his intention was to win the European Cup during the four years which he is contracted to Real Madrid. His reputation as a great manager would be secured if he brought that elusive 10th European Cup to Madrid and he'd be the first to win club football's greatest trophy in three different countries. Yet he never won the competition while at Chelsea. Mourinho has also said that he'd like to return to England. He puts his obvious enthusiasm for management in England down to Alex Ferguson. The pair met for the first time in 1996 when Mourinho was a lowly assistant to Bobby Robson at Barcelona. A United delegation including Ferguson flew to Catalonia to sign Jordi Cruyff. Robson had been telling the young Mourinho how a coach in England was much more hands on. "In Portugal or Spain, it would not be normal for a coach to be involved," recalls Mourinho in Patrick Barclay's new biography of Sir Alex Ferguson, published this Thursday. "I realised that England was different. It was a perfect example of what Bobby had been telling me." "His (Ferguson's) ideas were very clear. He was fighting hard for his club. And an understanding of that dimension of management made me take an even greater interest in the English game, to fall in love with it even before I came. "I had always thought that the coach should not just do a training session a day, then go home and watch a couple of videos of the opposition and come in and do the same thing the next day. And here I saw the English style of management - and it was Sir Alex." The pair would come head-to-head eight years later when United drew FC Porto in the Champions League. United were leading in Portugal, but lost, with Roy Keane sent off. "Most people thought Sir Alex was going mad about it after the game," said Mourinho. "But for me - especially now that I have got to know him - he was not mad. He was starting to play the second game." It began in the tunnel. "He and I were walking to the dressing rooms at the same time and he was shaking hands with me but not looking at me because the referee was coming behind us and Alex was complaining in his Scottish accent about the referee's decisions. I didn't interfere. I just let him get on with it. "At that moment, I think, he felt he was in trouble. "Manchester United had gone into the game with respect, of course, but expecting to beat Porto. And now he knew Porto was a team of some resources too. And so he started, as I have done all my career - and he's the master at it - to play the next game before it starts. In this case he was trying to create an atmosphere in which his own team would want revenge. "He went into the press conference, mentioned that Porto had won a few titles and said maybe we had got used to buying them at the supermarket! He was trying to put the knife into his own players while making mine - young boys, mainly, unaccustomed to the Champions League - feel a little low, as if they had not deserved to win." Porto prevailed at Old Trafford to go through. Describing the pandemonium in the dressing room, Mourinho says: "You would have thought we had won the World Cup. And then there was a knock on the door. It was Alex, with Gary Neville. As they came in, everybody fell silent, respectful. The party stopped. The party was over. And, as Gary Neville went round shaking hands with my players, Alex shook hands with me and said that, after the press conference, I was invited to come to his office for a drink. "What a special person it was, I thought, who would do anything to win but, if he lost, still do that. At that moment I made a decision. It was that, if I ever came to England, I would follow this example." Mourinho arrived at Chelsea soon after and his meetings with Ferguson became commonplace. "Beforehand," said Mourinho, "we would play our game with words. Then there would be the game on the field. And afterwards - win, lose, draw - our tradition was to have a bottle of wine. "He started it. He always had one in his office. So I decided it could not always be him and brought a bottle myself, a good one, Portuguese. And that started a competition. Who would bring the best bottle? Who would bring the most expensive? He came with a fine Bordeaux, I would retaliate - always with a Portuguese wine - and so it went on."

Premier League - Papers: Rooney set for Real ? Thu, 14 Oct 09:21:00 2010 When the news emerged that Wayne Rooney was having a little bit of a lovers' tiff with Manchester United boss Sir Alex Ferguson it was inevitable that one of the papers would do what they always do in these situations: link the striker with Real Madrid. Step right up the Daily Star, whose back page screams 'ROO'S REAL WAR WITH FERGIE' as they squeeze extra juice out of an already over-ripe story. The Sun are also trotting out the 'Roo to Real' line. A recap for those who missed the original story: when Rooney was asked after England's dour draw against Montenegro if his ankle had caused him any problems, Rooney said: "No, I've had no ankle problem all season." Fergie, you might recall, had said Rooney had an ankle problem a few weeks ago and needed to rest, so Rooney was then asked: "Why did Alex Ferguson say you had?", to which he laughed and replied: "I don't know." It has been a tough time for Rooney lately of course, with reports of him scoring off the field with prostitutes all over the tabloids being compounded by his lack of scoring on it. However, despite such a fall from grace, the Star reckons Real are still prepared to launch a 'shock £75m swoop' for the United striker. Real hope that Rooney's friendship with Cristiano Ronaldo could seal the deal and who knows, maybe United's financial problems could see them forced into a sale too. Meanwhile there are also rumours of another Old Trafford transfer - this time a potential arrival. The Sun claims that Rangers' highly-rated goalkeeper Allan McGregor could come in as a long-term replacement for the soon-to-be-40-year-old Edwin van der Sar. McGregor put in the latest of a string of top performances this season during Scotland's unlucky defeat to Spain on Tuesday and United would be willing to pay £7 million for his services. There is plenty of Liverpool coverage in the papers this morning, but it is mostly just straight reporting of yesterday's events in the High Court and Texas - some stories are so dramatic they don't need be made up! However, one transfer rumour does trickle through with the Daily Mirror claiming that Juventus are eager to sign Liverpool full-back Glen Johnson in the January transfer window despite the 26-year-old having a contract until 2013. The same paper also claims that the blue half of Merseyside could lose a key player with John Heitinga quoted as saying he'd "definitely be interested" in joining reported suitors Bayern Munich. And the final Liverpool-based titbit concerns a report in the Guardian that Reds legend and former Chester City boss Ian Rush has put himself forward for consideration for the Wales job. Some more transfer rumours: Turkish club Fenerbahce are said to be keen on bringing Tuncay back home but will not pay anything near the £5m that Stoke paid Middlesbrough for the roaming forward. Birmingham City are looking to make a bid for Southampton midfielder Adam Lallana in the January transfer window with £3m being the fee quoted. (Daily Mail) The Mail also reckon Aston Villa are considering a £2m bid for Toulouse winger Franck Tabanou, and that Young Boys defender Ammar Jemal could move to Stoke City for £1.5m. Finally, new Leicester boss Sven-Goran Eriksson is already being linked with loan players: Blackburn striker Jason Roberts (Mirror) and Tottenham's Kyle Naughton (Mail) are two players mentioned as possible arrivals. Eurosport