Bloomberg pays Singapore leaders

Bloomberg pays Singapore leaders

SINGAPORE: News and information provider Bloomberg LP has agreed to pay libel damages and costs totaling S$595,000 (US$340,000) to three Singapore government leaders who have accepted the deal, lawyers for the three men said.

The damages follow a Bloomberg article on Aug. 5 about the appointment of Madam Ho Ching, Deputy Prime Minister Lee Hsien Loong's wife, in May this year as executive director of Temasek Holdings, the government's powerful investment agency.

Prime Minister Goh Chok Tong, Senior Minister Lee Kuan Yew and Deputy Prime Minister Lee accepted Bloomberg's apology and the amount offered for defamation.

The lawyers, representing the three men, said that under the agreement, Bloomberg will pay S$210,000 to Goh, S$180,000 to Senior Minister Lee and another S$180,000 to Deputy Prime Minister Lee, who is also finance minister and head of the central bank. An additional S$25,000 will be paid in costs. --Reuters