IN BRIEF

Singapore posts record number of visitors

SINGAPORE: Singapore welcomed a record 13 million overseas visitors last year the majority arriving from Asia, official data showed yesterday. The 13.2 million arrivals translated into a 13 per cent rise on 2010 figures and beat government forecasts of 12-13 million, the Singapore Tourism Board said. It said 76 per cent of the arrivals came from Asia, where economic growth has remained robust despite a debt crisis in Europe. Arrivals from Europe rose by 2 per cent, the tourism board said.

China hopes to resolve airline fee row with EU

BEIJING: China's Foreign Ministry said yesterday it hoped talks with the European Union could resolve a dispute over the region's airline emissions fee scheme, a day after China said its airlines were banned from participating in the programme. The comments come less than a week before Chinese and EU leaders hold a summit in Beijing, with the EU looking to China to dip into its huge foreign exchange reserves to help it tackle a debt buildup that threatens its economic stability. The tussle over the emissions scheme, which could levy charges for carbon emissions from flights in and out of Europe, has also drawn ire from other countries, including the United States and India. !

Taiwan exports shrink for the 1st time in 2 yrs

TAIPEI: Taiwan's exports contracted in January for the first time in over two years, as demand in all major markets tumbled and demand for electronics and communications equipment, mainstays of the export-led economy, fell over 20 per cent. The contraction in exports, the first since October 2009, was within analysts' expectations in a Reuters poll, and was also affected by an early Lunar New Year holiday that shut most businesses for the last week of the month. !

Indian growth seen falling below 7%

NEW DELHI: India's government yesterday revised down its economic growth forecast for the current fiscal year to below 7 per cent, reflecting weakness in Asia's third-largest economy. The Indian economy is seen expanding by 6.9 per cent in the year to March, below the 7.25-7.75 per cent range given by the government in its December forecast, new data from the statistics ministry showed. Indian companies, particularly in the manufacturing sector, have suffered from 13 interest rate rises since March 2010 designed to tame inflation that was running at near double-digits.

Agencies