Private home prices expected to be relatively stable: analyst

SINGAPORE: Colliers International said private home prices are expected to remain relatively stable with marginal downside this year, thanks to the government's latest cooling measures imposed in January 2013.

In the face of mounting supply, rents are also expected to weaken this year.

According to a report by Colliers International, average monthly gross rents of luxury/super-luxury homes are expected to decline by up to a maximum of 10 per cent in 2013.

Meanwhile, Colliers said Singapore's residential property market saw a record breaking year in 2012.

This was despite noticeably subdued market activity in the fourth quarter of 2012, following recent property cooling measures.

Colliers said the home buying frenzy which started in January last year brought developers' sales volumes for 2012 to a record high as early as September.

This was boosted by a record number of new units released by developers as well.

4,283 new units were sold in the fourth quarter of last year, raising the primary sales volume to 22,127 units for the whole of 2012.

This breaks the previous record of 16,292 new units sold in 2010 by 35.8 per cent.

Meanwhile, developers launched a total of 21,511 new private homes last year, surpassing the previous highs of 17,710 units recorded in 2011 by 21.5 per cent.

But on a quarterly basis, developer launches and sales volumes dipped below 5,000 units last quarter due to the traditional year-end festive and holiday season and a weaker sentiment.

The number of new units released fell from an average of 6,023 units for the first three quarters to 3,441 in the last quarter of 2012.

Similarly, developer sales in the three months ending December 2012 fell 27.6 per cent on-quarter to 4,238 units from 5,916 units sold from July to September.

Meanwhile, mass market projects located in the Outside Central Region (OCR) dominated activities in the primary market in the last three months of 2012, contributing to 51.0 per cent of developer launches and 63.1 per cent of developer sales during this period.

Homes in the Rest of the Central region (RCR) contributed 31.5 per cent of island-wide launches and 22.8 per cent of developer sales in three months ending December 2012.

The Colliers report also stated that the narrowing price gap between mid-tier and mass market homes located in suburban areas saw home-buyers committing to 975 new units in 4Q2012, up 19.8 per cent on quarter from the 814 units sold in the third quarter of last year.

Launches and sales of new homes in the Core Central Region (CCR) meanwhile accounted for 17.5 per cent and 14.1 per cent of island-wide launch and sales volumes in 4Q2012.

Developer launches in that segment also slid 2.4 per cent from the third quarter while sales dropped 6.5 per cent on-quarter during the October to December period.

All three market regions (OCR, RCR and CCR) experienced higher rates of price growth in 2012, although the pace of price increase varied across the different regions.

- CNA/xq

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Google asks FCC for wireless spectrum, but don't get too excited

Google has petitioned the Federal Communications Commission (FCC) for permission to apparently conduct testing on, well, something. But it's not a new wireless service some have hoped it would be, CNET has exclusively learned.

Steven Crowley, a wireless engineer, discovered the application, which was filed by Google last week. The application asks for permission to test frequencies across the 2524 to 2546 MHz range and 2567 to 2625 MHz range. According to Crowley, those ranges are reserved for Educational Broadband Service and Broadband Radio Service. But here's the catch: Clearwire, a company that Google had owned a slice in until last year, uses the ranges for its mobile broadband service.

Predictably, that has prompted speculation over whether Google is testing its own wireless network. The company currently offers free Wi-Fi service in the Chelsea neighborhood in New York City, and has been dipping its toe in the service waters with Google Fiber in Kansas City.

Google, however, has not provided any details on its plans in the FCC petition. The report is heavily redacted and includes only one exhibit outlining where it will place base stations to test the service in its Mountain View headquarters.

Given the relative inability of concrete information, some circumstantial evidence is being drawn to guess at Google's plans. The filing, for example, was authorized by Google vice president of Access Services, Milo Medin. Google's Access Services handles its Fiber offering and wireless initiatives.

However, the spectrum range in question currently does not work natively with any popular consumer devices. In addition, a source with knowledge of Google's plans, has told CNET that the testing is just that, and at this time, the search giant has no plans to deliver a consumer-facing service with the spectrum.

So, what is Google up to with this testing? At this point, according to the source, it's nothing we'll be using, and falls in line with Access Services' charge of regularly testing wireless technologies.

Google declined CNET's request for comment on the report.

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Deformed Dolphin Accepted Into New Family

In 2011, behavioral ecologists Alexander Wilson and Jens Krause of the Leibniz-Institute of Freshwater Ecology and Inland Fisheries in Germany were surprised to discover that a group of sperm whales (Physeter macrocephalus)—animals not usually known for forging bonds with other species—had taken in an adult bottlenose dolphin (Tursiops truncatus).

The researchers observed the group in the ocean surrounding the Azores (map)—about 1,000 miles (1,600 kilometers) off the coast of Lisbon, Portugal—for eight days as the dolphin traveled, foraged, and played with both the adult whales and their calves. When the dolphin rubbed its body against the whales, they would sometimes return the gesture.

Among terrestrial animals, cross-species interactions are not uncommon. These mostly temporary alliances are forged for foraging benefits and protection against predators, said Wilson.

They could also be satisfying a desire for the company of other animals, added marine biologist John Francis, vice president for research, conservation, and exploration at the National Geographic Society (the Society owns National Geographic news).

Photographs of dogs nursing tiger cubs, stories of a signing gorilla adopting a pet cat, and videos of a leopard caring for a baby baboon have long circulated the web and caught national attention.

A Rare Alliance

And although dolphins are known for being sociable animals, Wilson called the alliance between sperm whale and bottlenose dolphin rare, as it has never, to his knowledge, been witnessed before.

This association may have started with something called bow riding, a common behavior among dolphins during which they ride the pressure waves generated by the bow of a ship or, in this case, whales, suggested Francis.

"Hanging around slower creatures to catch a ride might have been the first advantage [of such behavior]," he said, adding that this may have also started out as simply a playful encounter.

Wilson suggested that the dolphin's peculiar spinal shape made it more likely to initiate an interaction with the large and slow-moving whales. "Perhaps it could not keep up with or was picked on by other members of its dolphin group," he said in an email.

Default

But the "million-dollar question," as Wilson puts it, is why the whales accepted the lone dolphin. Among several theories presented in an upcoming paper in Aquatic Mammals describing the scientists' observations, they propose that the dolphin may have been regarded as nonthreatening and that it was accepted by default because of the way adult sperm whales "babysit" their calves.

Sperm whales alternate their dives between group members, always leaving one adult near the surface to watch the juveniles. "What is likely is that the presence of the calves—which cannot dive very deep or for very long—allowed the dolphin to maintain contact with the group," Wilson said.

Wilson doesn't believe the dolphin approached the sperm whales for help in protecting itself from predators, since there aren't many dolphin predators in the waters surrounding the Azores.

But Francis was not so quick to discount the idea. "I don't buy that there is no predator in the lifelong experience of the whales and dolphins frequenting the Azores," he said.

He suggested that it could be just as possible that the sperm whales accepted the dolphin for added protection against their own predators, like the killer whale (Orcinus orca), while traveling. "They see killer whales off the Azores, and while they may not be around regularly, it does not take a lot of encounters to make [other] whales defensive," he said.

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N. Korea Vows More Nuke Tests Targeting U.S.

In a bellicose statement singling out the United States as the "sworn enemy" of the Korean people, North Korea today announced plans for a third nuclear test and continued rocket launches.

The move is seen as a disappointment to those who hoped the country's new leader, Kim Jong-Un, might take a less aggressive path than his predecessor and father, Kim Jong-il.

It is also seen as a direct challenge to President Obama and South Korea's newly elected president, Park Geun-hye, who takes office next month.

The statement from North Korea's National Defense Commission read:

"Settling accounts with the U.S. needs to be done with force, not with words as it regards jungle law as the rule of its survival."

The renewed threats come in response to the U.S. backed resolution tightening sanctions against North Korea after its December rocket launch.

At that time, North Korea repeatedly insisted that the launch was simply part of its peaceful space program. The recent statement made no mention of that.

It read: "We are not disguising the fact that the various satellites and long-range rockets that we will fire and the high-level nuclear test we will carry out are targeted at the United States."

South Korean officials analyzed debris from the December launch that, they say, indicates North Korea built and tested crucial components for a missile that can fly further than 6,200 miles.

Analysts say that preparations at the Pungyee test site in northeastern North Korea are underway and that a new underground test could take place on short notice.

Within the international monitoring community it is not believed that North Korea currently has the capability to launch a long-range rocket with the capacity to reach the United States or the technology to mount a nuclear warhead on a long-range missile. But the U.S. is not pleased with North Korea's plans. Glyn Davies, the top U.S. envoy to the region, said in Seoul, "We hope they don't do it. We call on them not to do it."

China, North Korea's main ally in the region, is also urging restraint. China backed the U.S. resolution at the United Nations and today the Foreign Ministry cautioned North Korea not to take further steps to increase tension.

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See ya, latex: Reinventing the condom

See more in our gallery: "Prophylactic progress: The story of the condom's rise"

IF I didn't already know what they were, I would have difficulty identifying the objects in front of me. There are about 20, mounted on a rack of vertical wooden pegs and illuminated into ghostly shadows by a light box beneath. They resemble elaborate sculptures in translucent resin. One looks like a thin, hollow lemon juicer; others are like accordions or abstract spaceships.

Designers Danny Resnic and Ray Chavez joke that they used to keep these racks in the window since passers-by had no chance of guessing what they were. And it's true; they share only the most rudimentary qualities with what most people think of when they think of a condom.

Despite being available in various colours, flavours and textures, modern condoms all follow a basic design that has been with us for more than ...

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PM Lee says he is aware of childcare concerns

SINGAPORE: Prime Minister Lee Hsien Loong has written on his Facebook page that he is aware many couples and parents are worried about childcare for their young children, especially when both adults are working.

He noted that they had raised their concerns and commented on this when he posted on the Marriage & Parenthood Package on Monday.

Mr Lee added that the government is increasing child and infant care subsidies, for families with a gross monthly income of up to S$7,500 and expanding the number of good quality and affordable childcare centres.

This will give parents with young children greater peace of mind, and hopefully encourage couples to have more children.

- CNA/xq

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Google shares soar as analysts chime in on earnings

Google's shares are on the rise following a strong earnings report yesterday.

In early trading, Google's shares jumped more than 5 percent to $740.37. The company's stock price closed the day at $702.87 yesterday.

Google's share jump is due in part to Google's strong fourth quarter. The company beat analyst expectations during the period and posted a $2.9 billion profit on $14.4 billion in revenue. That performance helped Google post its first $50 billion revenue year.

It didn't take long for a slew of analysts to chime in on Google's performance and up the company's 12-month target price. A wide array of analysts, including those from J.P. Morgan, Morgan Stanley, and others, increased their price target, saying that they believe Google will have an even stronger 2013. Cowen analyst John Blackledge maintained his "Outperform" rating on Google, saying that he believes Google's revenue will rise 18 percent year-over-year in 2013.

He's certainly not alone in thinking it's time to be bullish on Google's stock. According to Marketwatch, 43 analysts have combined for an average 12-month target price on Google's shares of $804.54.

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The Promise and Perils of Mining Asteroids

Encouraged by new space technologies, a growing fleet of commercial rockets and the vast potential to generate riches, a group of entrepreneurs announced Tuesday that they planned to mine the thousands of near-Earth asteroids in the coming decades.

The new company, Deep Space Industries (DSI), is not the first in the field, nor is it the most well-financed. But with their ambition to become the first asteroid prospectors, and ultimately miners and manufacturers, they are aggressively going after what Mark Sonter, a member of DSI's board of directors, called "the main resource opportunity of the 21st century." (Related: "Asteroid Hunter to Be First Private Deep-Space Mission?")

Prospecting using miniaturized "cubesat" probes the size of a laptop will begin by 2015, company executives announced. They plan to return collections of asteroid samples to Earth not long after.

"Using low cost technologies, and combining the legacy of [the United States'] space program with the innovation of today's young high tech geniuses, we will do things that would have been impossible just a few years ago," said Rick Tumlinson, company chairman and a longtime visionary and organizer in the world of commercial space [not sure what commercial space means].

"We sit in a sea of resources so infinite they're impossible to describe," Tumlinson said.

Added Value

There are some 9,000 asteroids described as "near-Earth," and they contain several classes of resources that entrepreneurs are now eyeing as economically valuable.

Elements such as gold and platinum can be found on some asteroids. But water, silicon, nickel, and iron are the elements expected to become central to a space "economy" should it ever develop.

Water can be "mined" for its hydrogen (a fuel) and oxygen (needed for humans in space), while silicon can be used for solar power systems, and the ubiquitous nickel and iron for potential space manufacturing. (See an interactive on asteroid mining.)

Sonter, an Australian mining consultant and asteroid specialist, said that 700 to 800 near-Earth asteroids are easier to reach and land on than the moon.

DSI's prospecting spacecraft will be called "FireFlies," a reference to the popular science fiction television series of the same name. The FireFlies will hitchhike on rockets carrying up communication satellites or scientific instruments, but they will be designed so that they also have their own propulsion systems. The larger mining spacecraft to follow have been named "DragonFlies."

Efficiencies

It all sounds like science fiction, but CEO David Gump said that the technology is evolving so quickly that a space economy can soon become a reality. Providing resources from beyond Earth to power spacecraft and keep space travelers alive is the logical way to go.

That's because the most expensive and resource-intensive aspect of space travel is pushing through the Earth's atmosphere. Some 90 percent of the weight lifted by a rocket sending a capsule to Mars is fuel. Speaking during a press conference at the Santa Monica Museum of Flying in California, Gump said that Mars exploration would be much cheaper, and more efficient, if some of the fuel could be picked up en route. (Related: "7 Ways You Could Blast Off by 2023.")

Although there is little competition in the asteroid mining field so far, DSI has some large hurdles ahead of it. The first company to announce plans for asteroid mining was Planetary Resources, Inc. in spring 2012—the group is backed by big-name investors such as Google's Larry Page and Eric Schmidt, filmmaker James Cameron, and early Google investor Ram Shriram. DSI is still looking for funding.

Owning Asteroids

While these potential space entrepreneurs are confident they can physically lay claim to resources beyond Earth, there remain untested legal issues.

The United Nations Space Treaty of 1967 expressly forbids ownership of other celestial bodies by governments on Earth. But American administrations have long argued that the same is not true of private companies and potential mining rights.

While an American court has ruled that an individual cannot own an asteroid—as in the case of Gregory Nemitz, who laid claim to 433 Eros as a NASA spacecraft was approaching it in 2001—the question of extraction rights has not been tested.

Moon rocks brought back to Earth during the Apollo program are considered to belong to the United States, and the Russian space agency has sold some moon samples it has returned to Earth-sales seen by some as setting a precedent.

Despite the potential for future legal issues, DSI's Gump said his group recently met with top NASA officials to discuss issues regarding technology and capital, and came away optimistic. "There's a great hunger for the idea of getting space missions done with smaller, cheaper 'cubesat' technology and for increased private sector involvement."

Everyone involved acknowledged the vast challenges and risks ahead, but they see an equally vast potential—both financial and societal.

"Over the decades, we believe these efforts will help expand the civilization of Earth into the cosmos, and change what it means to be a citizen of this planet," Tumlinson said.

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Te'o Tells Couric He Briefly Lied About Girlfriend

Manti Te'o briefly lied to the media and the public after discovering his online girlfriend did not exist and was a part of an elaborate hoax, he admitted in an exclusive interview with ABC News' Katie Couric.

The star Notre Dame linebacker, who has been hounded by the reporters since the story broke Jan. 16, told Couric in a taped interview Tuesday that he was not lying up until December. Te'o said he was duped into believing his online girlfriend, Lennay Kekua, died of cancer.

"You stuck to the script. And you knew that something was amiss, Manti," Couric said.

Te'o found out that Kekua was a hoax on Dec. 6, but on Dec. 8 he again publicly mentioned his girlfriend. The remark came as Te'o was a finalist for the Heisman Trophy, the award for the best college football player in the country. Te'o was eventually a runner-up for the trophy.

"Katie, put yourself in my situation. I, my whole world told me that she died on Sept. 12. Everybody knew that. This girl, who I committed myself to, died on Sept. 12," Te'o said.

"Now I get a phone call on Dec. 6, saying that she's alive and then I'm going be put on national TV two days later. And to ask me about the same question. You know, what would you do?" Te'o said.

Man Allegedly Behind the Manti Te?o Dead Girlfriend Hoax Watch Video

See more exclusive previews tonight on "World News With Diane Sawyer" and "Nightline." Watch Katie Couric's interview with Manti Te'o and his parents Thursday. Check your local listings or click here for online station finder.

Te'o, 21, was joined by his parents, Brian and Ottilia, in the interview.

"Now many people writing about this are calling your son a liar. They are saying he manipulated the truth, really for personal gain," Couric said to Te'o's father.

"People can speculate about what they think he is. I've known him 21 years of his life. And he's not a liar. He's a kid," Brian Te'o said with tears in his eyes.

Click here for a who's who in the Manti Te'o case.

Diane O'Meara told NBC's "Today" show Tuesday that she was used as the "face" of the Twitter account of Manti Te'o's online girlfriend without her knowledge or consent.

O'Meara said that Ronaiah Tuiasosopo used pictures of her without her knowledge in creating Kekua.

"I've never met Manti Te'o in my entire life. I've never spoke with him. I've never exchanged words with him," O'Meara said Tuesday.

The 23-year-old marketing executive went to high school in California with Tuiasosopo, but she says they're not close. Tuiasosopo called to apologize the day Deadspin.com broke the hoax story, she said.

Timeline of Manti Te'o girlfriend hoax story

In an interview with ESPN last week, Te'o said he had received a Twitter message from Tuiasosopo apologizing for the hoax.

The Hawaiian also spoke to Tuiasosopo on the phone the day the Deadspin report came out, according to ESPN.com. He found out that "two guys and a girl are responsible for the whole thing," he said.

But he did not know the identities of the other individuals involved, other than the man he says was Tuiasosopo.

Tuiasosopo, a 22-year-old resident of California, has not admitted involvement publicly. Tuiasosopo graduated from Paraclete High School in Lancaster, Calif., in 2007 and has posted dozens of videos online signing Christian songs.

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Sacrificing Einstein: Relativity's keystone has to go

COINCIDENCE is not generally something scientists have much truck with. If two things are genuinely unrelated, there is little further of interest to be said. If the coincidence keeps turning up, however, there must be some deeper underlying link. Then it is the job of science to tease out what it is and so explain why there was no coincidence in the first place.

That makes it rather odd that a large chunk of modern physics is precariously balanced on a whopping coincidence.

This coincidence is essential to the way we view and define mass. It is so fundamental to the world's workings that most of us encounter its consequences every day without giving them another thought. Yet it has vexed some of the best minds in physics for centuries. Galileo and Newton grappled with it, and ended up just accepting it, rather than understanding it. Einstein went one better: ...

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