The singular values of a $n \times m$ matrix A are more or less the eigenvalues of the $n+m \times n+m$ matrix $\begin{pmatrix} 0 & A \\ A^* & 0 \end{pmatrix}$$\begin{pmatrix} 0 & A \\\ A^* & 0 \end{pmatrix}$. By "more or less", I mean that one also has to throw in the negation of the singular values, as well as some zeroes. Using this, one can deduce inequalities for the singular values from that of the Hermitian matrices problem. This may even be the complete list of inequalities, though I don't know if this has already been proven in the literature.
See also my blog post on this at
http://terrytao.wordpress.com/2010/01/12/254a-notes-3a-eigenvalues-and-sums-of-hermitian-matrices/