Singapore will impose the death penalty or life imprisonment on hostage takers acting against governments of international organizations. The city/state’s new anti-terrorism law also strengthens the hand of authorities trying to stop ransoms being paid, giving them the power to freeze bank accounts. Murder, including killing a hostage, is already punishable by death in Singapore.

China Southern reported 33.9 billion yuan ($5 billion) in revenue for the first half of the year, up 40% from 24.3 billion yuan in the same period last year, helping the company record a net profit of 2.07 billion yuan ($304.7 million) for the first six months of 2010. The airline received a significant boost from a 1.08 billion yuan ($159 million) gain from the sale of its 50% stake in engine overhaul shop MTU Maintenance Zhuhai to parent company China Southern Air Holding Co. Last year, the airline had a tiny first-half profit of just 25 million yuan.

Australia’s Virgin Blue group will direct its Pacific Blue offshoot toward international service, abandoning its domestic New Zealand business, in the first phase of a network review. Another airline in the group, V Australia, will focus on long-haul, dropping its service to Fiji, which Pacific Blue will pick up. Jetstar, a budget airline operated by Virgin Blue rival Qantas, will take advantage of Virgin Blue’s retreat by increasing its New Zealand business, adding two Airbus A320s to the eight it already operates in the country.