SINGAPORE (Jan 21): “We have had to balance the respect we have for the millions of people, customers and shareholders we serve, with the very significant cost of hiring one individual, even one as talented as Andrea.” — Ana Botín, Santander’s executive chairman, on rescinding her offer to hire UBS’ former head of investment banking Andrea Orcel as the Spanish bank’s new CEO. Santander’s board refused to compensate the €50 million ($77 million) Orcel would forego for joining a competitor.

Johor chief minister defiant over ‘provocative act’ in maritime dispute

On Jan 17, Johor Chief Minister Osman Sapian brushed aside criticism over his visit into waters disputed by Singapore and Malaysia a week ago, calling his critics “sour grapes”. Osman, 67, said he was also Johor’s security council chairman, and that his role in the council required him to personally understand the current maritime dispute in the area.

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