TR EMERITUS

Reuters, 1 March 2010 China has moved to raise the profile of the teenage Panchen Lama, traditionally the second-most powerful figure in Tibetan Buddhism who plays a role in the controversial selection of the next Dalai Lama. The Panchen Lama, who turns 20 this year and is being groomed to win over restive Tibetans in China, was named a member of the national committee of an advisory body that will hold its annual meeting this week, the Xinhua news agency said today. The Panchen Lama was selected by Beijing in 1995 over a boy chosen by the Dalai Lama who has never been seen again, creating a crisis of legitimacy for devout Tibetans. China considers the ageing Dalai Lama, who fled into exile in 1959 after an abortive uprising against Chinese rule, a dangerous separatist. The Dalai Lama says he is merely seeking greater autonomy for Tibet. China has been gradually exposing the Panchen Lama to more public roles in the hope he will achieve the loyalty of Tibetans and international respect commanded by the ageing Dalai Lama. He was among 13 people named to the national committee of the Chinese People’s Political Consultative Conference, a body of private entrepreneurs, religious and cultural figures designed to provide input to the ruling Communist Party. The CPPCC’s annual meeting, which coincides with that of China’s rubber-stamp legislature, begins this week. He is believed to be a reincarnation of the 10th Panchen Lama, who remained in China when the Dalai Lama left and was subsequently imprisoned for many years. The Panchen Lama, a slight man with thick glasses, debuted with a speech in English at a Chinese-organised Buddhist congress in eastern China in 2009. — Reuters  Read More →

Written by Our Correspondent According to a report in the Straits Times today, more foreigners are joining Singapore dating agencies in a bid to find "love". Dating agencies told The Straits Times they have seen an increase of up to 30 per cent in single foreign clients over the past two years, most of which are professionals and executives in their late 20s to early 40s and are degree holders. The Straits Times added a spin to it by claiming that it is a sign that PRs and foreigners are more willing to "integrate" themselves into Singapore society. It quoted NUS sociologist Paulin Straughan as saying: "When you are willing to consider dating and forging a long-term relationship not from your own race and nationality, it's the ultimate willingness to assimilate." Due to the ruling party's liberal immigration policies, foreigners now make up 36 per cent of Singapore's population, up from 14 per cent in 1990. Of the remaining 64 per cent who are citizens, an increasing number are born overseas. The Department of Statistics revealed that there are 533,200 PRs and 1.25 million foreigners in Singapore as of last year. This is up from the 449,200 PRs and 1 million foreigners in 2007. In 2008, 6,077 citizens married non-Singaporeans, an increase from 4,566 in 2003. It is hardly surprising to see an increase in the number of foreigners seeking long-term relationships in Singapore as they are more of them coming to study and work here. How it can be interpreted as a "sign" that they are willing to integrate themselves into Singapore society is anybody's guess. Furthermore, it is highly debatable if all of them are looking for a partner in Singapore purely out of love or because of other more mundane motives. A number of foreigners are marrying Singaporeans simply because they want to secure Singapore citizenship which can be a passport for them elsewhere. Again, not all foreigner-Singapore couples choose to remain in Singapore, especially the highly qualified professionals who may relocate with their foreign spouses back to their homelands or elsewhere. Faced with a potential backlash from angry voters in the next election, the ruling party has been trying hard to convince Singaporeans initially that foreigners are needed in Singapore and now that they are "integrating" well into Singapore. As too many foreigners are allowed into Singapore within too short a period of time, it is near impossible to expect most, if not all of them to assimilate into Singapore society in a single generation. Fortunately for the ruling party, no matter how badly it screws up, it can always rely on the ever faithful Singapore media to whitewash their mistakes and portray them in a positive manner.  Read More →

Reuters, 1 March 2010 THE chief executives of HSBC Holdings , Europe's biggest bank, and Asia-focused rival Standard Chartered are set to give their bonuses to charity, newspapers reported on Sunday, following a high-profile row over the sums paid to bankers. Three British newspapers reported that HSBC chief Michael Geoghegan would accept his bonus but give it to several charities. The Daily Telegraph also reported that Peter Sands, head of Standard Chartered, planned to donate his bonus to charity. A spokesman for the London-listed bank declined to comment. The news follows moves by the heads of Barclays and bailed-out Lloyds Banking Group and Royal Bank of Scotland to waive their rights to a 2009 annual bonus. There has been building anger over 'fat cat' banker pay, which has become a major political issue in Britain in the run-up to an election expected in May, particularly with respect to banks rescued by taxpayers and still making losses as they emerge from the credit crisis. The Sunday Telegraph cited sources at HSBC, who pointed out it had received no direct taxpayer money, had paid dividends throughout the financial crisis and should be allowed to make its own decision on how it pays its executives. Mr Geoghegan stands to be awarded a bonus of four times his basic salary of 1.1 million pounds (S$2.34 million). HSBC had also been discussing with investors a plan to increase base pay for its top executives, shareholders have told Reuters, but it has shelved plans to award Mr Geoghegan a pay rise of more than a third, the FT reported last week. HSBC will report full-year results on Monday while London-listed Standard Chartered is expected to post record profits of US$5.1 billion (S$7.17 billion) next week. -- Reuters  Read More →