Mums top list of child abusers - Yahoo! Singapore (News)

Kuala Lumpur (The Star/ANN) - In a surprising finding, the highest number of child abusers turn out to be the hand that rocks the cradle the victim's mother.

Deputy Women, Family and Community Development Minister Datuk Heng Seai Kie said statistics from the past three years had revealed that most child abusers were parents themselves and in particular, mothers.

"Mothers make up 25.4% of perpetrators in child abuse cases while 18.9% are fathers.

"Together, parents comprise 44.3% of child abusers in incidents recorded nationwide last year," she said in her speech at the third national conference of the Association of Registered Child Care Providers Malaysia here yesterday.

Heng said the third largest number of child abusers at 11% of the total number of cases were the lovers of teenage victims.

Children are defined by the ministry as those aged below 18.

Parents should learn to strike a balance between work and parental responsibilities, she said.

Heng also revealed that child abuse statistics from Selangor and Kuala Lumpur were constantly above 50% of the total number of cases in the country.

On another matter, she said the ministry hoped to increase the percentage of children enrolled inchild care centres from the current 4% to 25% by 2020.

"This is in line with the Government's policy of encouraging the participation of women in the workforce.

"One of our objectives is to increase the number of women from the current 41% to at least 55% of the total workforce by 2015," said Heng, adding that a major challenge facing women who wanted a career was their responsibility towards their children.

She added that to set up more child care centres, the Government had offered incentives to corporate bodies and government agencies to establish such facilities at the workplace.

Heng said a RM200,000 incentive was given to government agencies while private companies were offered a tax deduction of 10% from their annual income for 10 years by the Finance Ministry to set up child care centres.

Early Child Care and Education Council assistant treasurer Shamsinah Shariff said it would encourage housing developers to set aside land to build child care centres and kindergartens at residential areas.

Researchers come up with new definition of 'cool' - Yahoo! Singapore (News)

How cool are you? According to a new study, what used to be defined as cool -- detached, rebellious, inscrutable -- is no longer what constitutes cool today

What does it mean to be cool these days? Is it still the James Dean-like bad boy who flouts the law? What about the impenetrable colleague at work who oozes mystery and intrigue, or the fearless thrill-seeking adventurer friend? According to a team of psychologists, today's definition of cool is less about being a rebel without a cause, and more about being friendly and warm.

That's the conclusion of a new study which set out to find the contemporary definition of ‘cool,' a concept traditionally associated with characteristics like emotional control, rebelliousness, toughness and detachment.

Think the likes of James Dean or Miles Davis, researchers say.

But after analyzing the survey results of 1,000 participants from the Vancouver area, researchers from the University of Rochester found that respondents judged a person's ‘cool' factor by traits like likeability, friendliness, attractiveness, confidence, and success. The study was published in the Journal of Individual Differences. 

"If anything, sociability is considered to be cool, being nice is considered to be cool," said lead author Ilan Dar-Nimrod in a statement.

For their study -- described as the first systematic, quantitative approach to understanding what makes up a ‘cool personality' -- researchers organized results into three areas. In the first, respondents generated characteristics they perceived to be cool. In the second, participants rated dozens of traits on coolness and social desirability, while for the third, respondents rated their own friends.

The most popular adjectives to come up focused on positive, socially desirable traits like friendliness, competence, trendiness and attractiveness.

Meanwhile, in a nod to the old adage beauty is more than skin deep, another study found that both men and women who exhibited positive traits like honesty and helpfulness are perceived to be better looking compared to those who were rude.

"Madagascar 3" cruises to North America box office win - Yahoo! Singapore (Entertainment)

Directors Tom McGrath (L), Conrad Vernon and Eric Darnell (R) arrive for the premiere of "Madagascar 3: Europe's Most Wanted", in New York June 7, 2012. REUTERS/Andrew Kelly

LOS ANGELES (Reuters) - The third animated "Madagascar" film stampeded past sci-fi thriller "Prometheus" to top U.S. and Canadian box office charts with nearly $60.4 million in ticket sales over the weekend.

"Madagascar 3: Europe's Most Wanted" also performed well in its debut in 28 international markets, bringing global ticket sales to $135.8 million in its opening weekend, according to distributorParamount Pictures.

Anne Globe, chief marketing officer with the film's production company DreamWorks Animation, said the family-friendly movie attracted many young viewers with over a quarter of tickets sold for children under 12 years of age and more than half its total audiences comprised of viewers under 25.

The "Madagascar" franchise about the wacky misadventures of escaped zoo animals has grossed more than $1 billion around the world since the first film debuted in 2005.

Paramount had projected a $45 million U.S. and Canadian opening for "Madagascar 3," and it roundly beat that forecast. But the new sequel's debut fell slightly short of the last "Madagascar" movie, which opened in November 2008 with $63 million from U.S. and Canadian theaters.

Still, it has received more critical praise than the previous two "Madagascar" films, racking up a 76-percent positive rating on critic aggregation site Rottentomatoes.com.

When asked about the possibility of a fourth installment in the series, Globe said DreamWorks was too busy enjoying its current success to give much thought to the future.

"It's too early to tell. There hasn't been a lot of discussion about that," she said.

In the new film, the animal pack joins a European traveling circus to try to get back to New York. Ben Stiller, Chris Rock, Jada Pinkett Smith and David Schwimmer provide voices for the lead characters. The 3D movie cost $145 million to make.

"PROMETHEUS" POWER

In second place, "Prometheus" starring Charlize Theron, pulled in $50 million. The 3D effects-filled film from "Alien" director Ridley Scott tells the story of a team of explorers who discover a clue to the origins of mankind. Noomi Rapace and Michael Fassbender also star.

Ahead of the weekend, Fox projected a $30 million domestic opening for "Prometheus," which cost $130 million to produce.

Chris Aronson, executive vice president for domestic distribution at Fox, said he was surprised at the film's success.

"It's just blown away our expectations," he said, attributing the performance to "word of mouth (publicity), a great film by Ridley Scott and a terrific (advertising) campaign."

The film also garnered more female viewers than expected, Aronson added, with women filling 43 percent of theater seats.

"Prometheus" opened overseas one week ago and picked up $39.2 million in international markets this weekend. The movie's global total ticket sales now stand at $141.5 million.

Last week's box office winner, action-filled "Snow White and the Huntsman," slipped to third place with $23 million. The dark take on the classic fairy tale, also starring Theron, has pulled in $83.5 million around the world since its debut.

Rounding out the top five on domestic charts were the third "Men in Black" comedy, which took in $13.5 million, and Marvel superhero hit "The Avengers," which brought in $10.8 million.

News Corp unit 20th Century Fox distributed "Prometheus" while "Snow White" was released by Universal Studios, a unit of Comcast Corp. Sony Corp's movie studio released "Men in Black 3," and Walt Disney Co distributed "The Avengers."

(Additional reporting by Andrea; Burzynski, editing by Bob Tourtellotte, Maureen Bavdek and Gary Crosse)

A third of S’pore will be ‘grey’ in 2050: report - Yahoo! Singapore (News)

Almost a third the people in Singapore will be over 65 years old by 2050. (Yahoo! file photo)


A “silver tsunami” lies in Singapore’s future, as almost a third the people in the city-state will be over 65 years old in a few decades.

According to a report by the Economist Intelligence Unit (EIU) commissioned by Manulife Asset Management, the pensioner population in most countries in the Association of Southeast Asian Nations (ASEAN) will triple in less than 40 years. 

Entitled “Saving up: The changing shape of retirement funding in a greying ASEAN”, the report revealed that the ageing phenomenon is worst in Singapore. Almost 32 per cent of residents will be over 65 years old in 2050, as compared to 9 per cent in 2010. It will be by far the highest percentage among member nations. 

As a result of the ageing population, there would be a considerable strain on retirement funding, according to the report. 

It forecast that by 2050, dependency ratios would increase almost five-fold. Every 100 workers will support 58 pensioners, as compared to just 12 pensioners in 2010. 

In addition, less than half of Singaporeans have signed up for a pension scheme currently, hinting at a future where significant numbers of people may enter old age with little financial support.  

This highlights the pressing need for an alternative savings mechanism to help people better prepare for their retirement with additional financial schemes, according to EIU.

How To Deal With A Youger Boss - Yahoo! Singapore (Finance)

In early 2009, when Forbes combined its online and magazine staffs, I found myself reporting to a younger boss for the first time in my 30-year career. It wasn't easy. I knew my boss was smart and digitally savvy, but I chafed in the deputy role. I admit it: I felt both superior and a touch disdainful, just because of the age difference.

I credit both of us for weathering those rocky first months together. My boss had to put up with not only my grumpy moods but also my cluelessness about basic dot-com skills like search engine optimization, linking and effective web headlines. Her communication style, of frequent e-mails and instant messaging, was totally different from my familiar mode of dropping by and chatting face-to- face with a boss. [More from Forbes: 10 questions you'd better ask your boss]

According to human resource and career consultants, older workers are reporting to younger bosses more and more these days. A 2010 survey by the jobs website CareerBuilder found that 43% of workers 35 and older said they currently work for a younger boss. CareerBuilder used Harris Interactive to administer the online survey of 5,000 workers.

Technological changes have a lot to do with the trend. In my field, the rise of online content and social media means that we dinosaurs need to figure out how to get along with younger, wiser superiors.

To that end, I interviewed two consultants who have carved out a specialty in this area, and a psychologist, Billie A. Pivnick, who teaches in the clinical psychology doctoral program atColumbia University's Teacher's College. [More from Forbes: How to fire your boss]

Robin Throckmorton, co-author of Bridging the Generation Gap: How to Get Radio Babies, Boomers, Gen Xers and Gen Yers to Work Together and Achieve More, encourages older workers to take the initiative and have a conversation with their boss about the boss's favored mode of communication. (One demerit for me: My boss asked me to set up an instant messaging account. I felt overwhelmed and never did.)

Claire Raines, co-author of Generations at Work: Managing the Clash of Veterans, Boomers, Xers, and Nexters in Your Workplace, agrees that older workers should adapt to a younger boss's communication style rather than try to fight or change it. Older workers have a lot to learn about things like the difference between texting and e-mail.

A tip: Young people assume that a missed cellphone call serves the same purpose as a voicemail message asking for a call back. It makes sense. Who wants to sit there forever while a tedious automated voice drones, "Please wait for the tone before recording your message …"

Even when older workers make an effort to learn new modes of communication, they shouldn't expect reciprocity, Raines advises. You need to adopt your boss's habits. Don't expect her to learn yours. [More from Forbes: American's best bosses]

Throckmorton and Raines agree that older workers shouldn't assume that their age wins them respect from a younger supervisor. "You have to earn that respect," says Throckmorton. Another common misplaced assumption: that the young boss wants or needs parenting or mentoring. Older workers have a tendency to hover, Throckmorton observes. "That doesn't work," she notes.

As a psychologist, Pivnick says the relationship between a younger boss and an older underling raises issues of dominance and submission. Her advice: "Redefine submission to mean surrender." Older workers should work to accept the situation and let go of any resentments. Instead, strategize for success. Observe your boss's management style and try to flow with it. Figure out ways to make your boss look good. If she's ultra competitive, do your best to work as a team player. If your boss is a clueless type who got there because she's the founder's granddaughter or she has a close relationship with a board member, she's going to need you to show her the ropes. Do your best, Pivnick suggests, and hope that her gratitude will get you a promotion. [More from Forbes: The 10 highest paid CEOs]

After six months, I was reassigned to a boss who is older than I am. I admit the relationship has been much easier for me than reporting to someone younger. As for my younger boss, it so happens she  landed a fabulous job at another media company that was a big step up the ladder for her.

Spain's weak banks need 40 billion euros: IMF - Yahoo! Singapore (News)

People hold placardds reading "Enough with Bank abuses" during a demonstration June 2, in Coruna. Spain's weak banks need at least 40 billion euros (US$50 billion) in new capital to strengthen against severe financial shocks, the International Monetary Fund said

Spain's weak banks need at least 40 billion euros (US$50 billion) in new capital to strengthen against severe financial shocks, the International Monetary Fund said.

Stress tests performed by the IMF on the country's battered banking sector indicated the top two banks, BBVA and Banco Santander, were solid.

People demonstrate against banking abuses on June 02, in Madrid. Spain's weak banks need at least 40 billion euros (US$50 billion) in new capital to strengthen against severe financial shocks, the International Monetary Fund said

But the rest of the banking sector could not measure up to official banking capitalization standards in the case of a sharp continuing contraction of the Spanish economy.

"Under the adverse scenario, the largest banks would be sufficiently capitalized to withstand further deterioration, while several banks would need to increase capital buffers by about 40 billion euros in aggregate to comply with the Basel III transition schedule," the IMF said in a statement.

A man takes part in a protest in front of a bank in Barcelona on June 6. Spain's weak banks need at least 40 billion euros (US$50 billion) in new capital to strengthen against severe financial shocks, the International Monetary Fund said

But that would not be enough to cover other restructuring costs and loan portfolio downgrades, the statement said.

"Going forward, it will be critical to communicate clearly the strategy for providing a credible backstop for capital shortfalls -- a backstop that experience shows it is better to overestimate than underestimate," said Ceyla Pazarbasioglu, deputy director of the IMF's Monetary and Capital Markets Department and leader of the IMF's stress test team.

Speaking on background, an IMF official said the banks would likely need a lot more to ensure there was a "credible backstop" in worst-case scenarios.

"In our view the stress tests are a good indicator but they are basically a floor for what you would probably need," the official said.

Often, the official said, in order to convince markets of the strength of the banks they would need a buffer of 1.5 to two times the level of new capital mandated under the stress test.

"Usually you come up with a buffer ... large enough to convince markets so that people don't say, oh well, what if this happens, what if the growth is even worse?"

The stress test results were originally scheduled to be released on Monday, but were moved ahead as European diplomats said Spain was likely Saturday to begin crafting a deal for a EU rescue of its banks.

The banks are hobbled with heavy losses mainly on real estate, with analysts predicting their asset values will continue to decline, and their recourse to commercial markets for capital have dried up.

As the banks rely heavily on short-term liquidity funding from the European Central Bank, Madrid's own ability to provide them with long-term capital has also come under heavy strain.

Ratings agency Moody's warned Friday that even if there is a more direct rescue of the banks, it could possibly downgrade Spain's credit rating due to the "increased risk to the country's creditors."

The IMF tests challenged the banks to meet standards under the internationally-agreed Basel III capital rules, in a severe recession scenario over the next two years -- a 4.1 percent contraction this year and a 1.6 percent contraction in 2013.

Details of how each of the banks performed were not released, but the total needed to measure up to the standards in the study was 37.1 billion euros.

The official said the IMF rounded the estimate up to 40 billion euros, adding that "stress tests.. are not a science, they are indicative."

The IMF Executive Board, after reviewing the stress test report, commended Spain for moving quickly to consolidate the banking sector and launch into financial sector reforms.

But, with Spain and the euro area still under crisis conditions, they urged Spain's authorities "to act swiftly and spare no effort to restore confidence in the financial system and to preserve financial stability."

"The stress tests do not attempt to represent the full scope of capital needs given, for example, possible costs associated with restructuring," they said in a statement.

"The immediate priorities are to strengthen capital buffers and formulate a strategy to deal with banks' legacy assets, guided by an in-depth due diligence of banks' loan portfolios."

PM Lee: The greatest danger for Singapore - Yahoo! Singapore (News)

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  PM Lee warns Singapore cannot afford to slow down and lessen its focus on economic growth. (Yahoo! Singapore file photo/ Alvin Ho)

Prime Minister Lee Hsien Loong warned on Friday that Singapore cannot afford to “slow down” in its pursuit of economic growth.

Speaking at Economic Society of Singapore's annual dinner, he said that would be the greatest danger for Singapore.

“If we are content to just be above average in the league of cities, we will fail. That is the greatest danger if we tell ourselves to slow down, enjoy life today and not worry about tomorrow,” he said.

Instead PM Lee said that now more than ever, in the face of growing competition and the lessons from the US and Europe, Singapore could not afford to be less competitive.

"Being near the front also means we must have a successful, growing economy. There is no other way we can achieve this. We cannot do it by spending what we have inherited from the older generation. We certainly cannot do it by pumping oil or gas from the ground," he said.

"We can only do it if our economy is prospering and creating wealth that we can invest in our city and our people, to make life better for all of us," he added.

[For full transcript of PM Lee's speech, go here]

He painted a grim picture of a Singapore with slow growth -- new investments will be fewer, good jobs will be scarcer and unemployment will be higher.

Singapore would also face a brain drain when enterprising and talented Singaporeans were lured away by more lucrative opportunities and incomes in more competitive cities. In such a scenario, the low-income workers will be hardest hit, he said.

SPEND ON PUBLIC WELFARE?

During his speech, PM Lee however acknowledged growing murmurs that Singapore’s economic success meant she could afford to focus on looking after the less well-off and spend more on public welfare.

"I respect these views. I agree fully that material goals are not everything in life. But we are not going for growth at all costs, nor have we done so... We must always maintain the balance between economic and non-economic objectives, and ensure that the fruits of growth are invested for social purposes which benefit the wider population," he said.

PM Lee also added that it is crucial that growth continues to benefit all in the next twenty years, especially when there is worldwide income inequality coupled with Singapore’s ageing population.

Responding to critics who say not enough is done for the underprivileged, PM Lee said "the reality is that we do much more than we acknowledged or get credit for."

"We have equipped people with the skills and ability to do well for themselves... Over a lifetime, a low-income household will receive more than S$500,000 from the government," he said.

"In fact, households in the lowest income quintile (20 per cent) have on average more than S$200,000 of equity in their HDB flat! This is the direct result of government policy and government grants. It is unmatched by any other country," he added.

'SCANDINAVIAN MODEL WON'T WORK'

PM Lee also said emulating countries with similar population sizes and pro-welfare policies such as Norway or Denmark would not work.

"We face a fundamental choice as a society -- do we want low taxes and targeted welfare benefits; or high taxes on all and comprehensive welfare? Singapore has chosen the first; the Scandinavians the second," he said.

Explaining that such countries are rich in natural resources, have relatively homogeneous societies and are situated in a peaceful and affluent continent that serves as their hinterland, PM Lee said these countries are willing to pay high taxes in exchange for high social protections for all.

While Singapore's personal income tax rate for the very wealthy stands at 20 per cent, those in similar tax brackets in Scandinavia pay anywhere from 40 to 57 per cent, according to data from the Ministry of Finance and Organisation for Economic Co-operation and Development (OECD).

"I do not believe that Singaporeans would be willing to pay the taxes that Scandinavians pay, or that our economy could be competitive at such heavy tax rates," said PM Lee.

For Singapore to rank among the top cities in 20 years' time and achieve social objectives, PM Lee also stressed that political support for the government was key.

"Only when citizens accept the political system as legitimate, and economic order as fair, will they give the government of the support and the mandate to run Singapore in their best interests. And only with this mandate can the government do the best for Singapore and all of us," he said.