Why the increases despite Worldwide Recession?

(Source: The Straits Times)
WORLD STOCK MARKETS ARE PLUNGING
DOW JONES DROP BELOW 10,000 MARK
NIKKEI DROPS BELOW 10,000 MARK
STI DROPPED TO 2,000
OIL PRICES PLUMMETED TO LOW of 86.03.
AUSTRALIA, CHINA, SOUTH KOREA AND TAIWAN CUTS INTEREST RATES.

World markets & interest rates are seeing record falls but
what happens in Singapore?

Singtel INCREASES its phone charges.
(Source: The Straits Times)

Singapore Government INCREASES Electricity Tariffs.

According to the report, Mr Tharman mentioned "price of electricity has risen much less than oil prices", but according to the facts, oil prices from Oct and Nov last year ranges from $80 - $90 which is similar to what the oil price right now, so the increase is not justifiable.
Citizens of Singapore are welcome to analyse the facts and figures here .

A silver lining would be STARHUB, who has done the community a service by providing free services rather than increase prices like Singtel. At times like this, the Government should be working to reduce inflation via reducing cost of land, property, transportation, energy costs and food costs instead of increasing it. (We all understand the need to boost the Government reserves due to the falling financial markets wiping out huge percentage of equity of sovereign wealth, hedge and private equity funds, but please, not at the expense of the man in the street).

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