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Monthly Archives: July 2009

WIPO sets up S’pore office

Posted on 28 Jul 2009 | Comments Off

THE World Intellectual Property Organisation (WIPO) will open its Arbitration and Mediation Centre in Singapore in 2010.

An agreement to pave the way for the establishment of the centre was signed by Dr Francis Gurry, WIPO’s director general, and Mr K Shanmugam, Minister for Law and Second Minister for Home Affairs on Tuesday morning.

To be located in Maxwell Chambers, Singapore’s international dispute resolution centre will focus on promoting alternative dispute resolution (ADR) services in the Asia Pacific Region.

As the only WIPO Center in the region, it will provide training and advice on procedures such as arbitration, mediation and expert determination, and will administer and facilitate hearings in cases conducted under the WIPO Rules in Singapore.

The centre’s Singapore office also aims to cater to regional needs and to make WIPO’s experience and expertise in intellectual property ADR more accessible in the Asia Pacific Region.

Said Mr Shanmugam: ‘The expansion of WIPO’s presence here bears testimony to Singapore’s commitment to the protection of intellectual assets and our support of WIPO’s efforts to develop the international IP regime. Continue reading →

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Property upswing: Beware the exuberance

Posted on 28 Jul 2009 | Comments Off

THE real estate sector is stirring, though not lustily yet. There is every reason to support the rationale that the upswing this time is better moderate than precipitous. The lesson learnt of the irrational exuberance in the second half of 2007 was that asset price inflation that began to eviscerate purchasing power in Singaporeans’ foremost ownership ambition was socially fraught. The trap can be avoided. Now that the second-quarter GDP rebound and intermittent stock market rallies will provide real estate momentum, it is not too early to counsel caution.

But one should still be thankful. The property turnaround is tracking closely the people’s confidence, which has withstood better than thought the effects of the recession. There are also the multiplier gains for businesses providing appliances, furniture, electronic gadgets, home decor and renovation works. Although the Urban Redevelopment Authority’s monitoring showed that prices of private property declined again in the second quarter, what was noteworthy was that the slower rate of quarterly dip (4.7 per cent against 14.1 per cent) mirrored the improved buyer sentiment evident since February. In the HDB market, confidence has been more pronounced as prices and values stayed up through the worst of the economic slump. Continue reading →