The Business Times, 24 December 1976

Microfilm: NL8962
Total Pages: 12
1 12 The Business Times
Page thumbnail Page 1
  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) 14 55/7 fi FRIDAY, DECEMBER 24, 1976 CENTS
    11 words
  • NEWS IN BRIEF
    • Article
      Lock icon Carter names two more
      52 1 Reuter PLAINS (Georgia), Thurs. Mr. Theodore Sorensen Special Assistant to the late President Kennedy, was named today by President-elect Jimmy Carter as new director of the Central Intelligence Agency (CIA). Former Defence Secretary James Schlesinger was named as Assistant to the President for coordinating &11 energy
      Reuter  -  52 words
    • Article
      Lock icon New tabloid planned
      71 1 Reuter LONDON, Thurs. A new national Sunday newspaper is planned within the next two years by Britain's Associated Newspapers group, publishers of the Daily Mail and London Evening News. Mr. Vere Harmsworth, the group's chairman, said today it would be tabloid, aimed at the middle ground of
      Reuter  -  71 words
    • Article
      First time under fire
      50 1 NEW DELHI, Thurs Prime Minister Indira Gandhi yesterday publicly attacked the pro-Soviet Communist Party of India (CPI) for the first time since she came to power 11 years ago. The CPl's severe criticism of Mrs Gandhi's son, Sanjay, prompted the unprecedented attack by the Prime Minister.
      50 words
    • Article
      Lock icon Bonn's envoy to Japan
      57 1 AP BONN, Thurs. Mr. Guenther Diehl, West German Ambassador to India since 1970, was named today as Bonn's new envoy to Japan. Mr. Diehl, 60, replaces Mr. Wilhelm Grewe, who is retiring from the foreign service from 1966 to 1969, Mr. Diehl was chief government spokesman
      AP  -  57 words
    • Article
      Lock icon Rebels can vote.. .
      59 1 Rebels can vote.. AP JAKARTA, Thurs. Chief of Staff of the Security and Order Command, Admiral Sudomo said rebels of 1953-1958 can vote and be elected in the general elections of 1977. Mr. Sudomo told reporters on Tuesday that the government, however, bans communist leaders who were directly or indirectly
      AP  -  59 words
    • Article
      Lock icon Soviets pick Lucas
      32 1 AP LONDON, Thurs. Lucas Aerospace, a major British components firm, has signed a contract to supply an electronic fuel injection system for the Soviet Union's TUI44 supersonic airliner. AP.
      AP  -  32 words
    • Article
      Lock icon Germans extend zone
      28 1 AP BONN, Thurs. West Germany formally proclaimed a 320-km fishing zone off its North Sea coast. The proclamation, announced today, is effective Jan 1. AP.
      AP  -  28 words
    • Article
      Lock icon After the scandal. . .
      42 1 After the scandal. AP BERLIN, Thurs. North Korea has cut its embassy staffs in East Berlin and Moscow from 30 to 10 following the smuggling scandal involving North Korean diplomats in Scandinavia, according to a Western diplomatic source in West Berlin. AP.
      AP  -  42 words
    • Article
      Lock icon Bank forecasts rate
      63 1 Reuter FRANKFURT, Thurs. The West German central bank expects an inflation rate of 3.5 per cent in 1977 and a real economic growth rate of five per cent, bank president Karl Klasen said today. In an interview with the West German, economic news agency, VWD. Mr. Klasen
      Reuter  -  63 words
    • Article
      Lock icon Opec meeting
      39 1 Reuter BAHRAIN, Thurs. Officials in Gulf member states of the Organisation of Petroleum Exporting Countries (Opec) said today an extraordinary conference of Opec may be held early in 1977 but no decision had yet been taken. Reuter.
      Reuter  -  39 words
    • Article
      Nod for amnesty Bill
      41 1 BANGKOK, Thurs. The Thai Cabinet today agreed in principle with a draft Bill to grant amnesty to thousands of prisoners throughout the country when Crown Prince Vajiralongkorn weds his bride early next month, a government spokesman said.
      41 words
    • Article
      Lock icon 10pc crude hike
      63 1 Reuter TOKYO. Thurs. Iraq, Kuwait and Iran have notified Japanese oil refineries of an approximately 10 per cent price increase on "direct deal" crude 011 shipped to Japan from Jan 1 next year, oil firms said here today. They said this was the first increase notified after
      Reuter  -  63 words
    • Article
      West may escape
      51 1 PARIS, Thurs. The industrialised nations will escape recession in 1977 but inflation will ease only slightly and unemployment will increase, an OECD report said. The Organisation for Economic Co-operation and Development, which guides the economies of the rich countries, released its forecast for the industrialised world for
      51 words
    • Article
      Lock icon Dow Jones
      43 1 UPI NEW YORK. Thurs. Dow Jones averages, based on the first hour of trading today on the New York Exchange: 30 indus 986.54. up 2.00; 20 transp 233.66, down 2.07; 15 utils 105.00, up 0.07; 65 stocks 319.23. down 0.32. UPI
      UPI  -  43 words
  • Chief Price Changes
    • Article
      In Kuala Lumpur
      117 1 Rises Most active Pan Elect. $2.10 .18 Pan Electric 224,000 M. Tobacco $5.25 .10 Central Sugars 140.000 U.O.B. $3.58 .06 Haw Par 131,000 Gentlng $3 04 .05 General Lumber 89,000 M. Banking O.C.B.C. Cen. Sugars Carls berg Dutch Baby F.E.L'ston Falls K Kampar Utd. Malacca M Rice
      117 words
  • Article
    A FLASHING VICTORY!
    1289 1 The people opt for pragmatism THE People's Action Party yesterday trounced all opposition parties convincingly, thanks to Singaporeans' preference for pragmatism over promises. When Business Times went to press, the PAP won all the 67 seats declared. It Is also expected to take the remaining two seats,
    1,289 words
  • Article
    WP PROTEST
    66 1 DEFEATED opposition leader, J.B. Jeyaretnam yesterday protested that the Workers' Party had no polling agent at the Kaki Bukit School for two hours during polling hours yesterday. This he said was the result of a man who he alleged was a PAP agent telling the WP agent there
    66 words
  • Article
    Banks petition for more active role
    532 1 MERCHANT banks In Singapore have petitioned the Monetary Authority of Singapore to allow them to take a more active part in the secondary market for government bonds. MAS is not studying these proposals submitted by the Singapore Merchant Bankers Association (SMBA) SMBA is not
    532 words
  • Article
    Securities Act in force on Monday
    519 1 KUALA LUMPUR, Thurs. The Securities Industry Act 1973 regulating the conduct of stock exchange trading will come Into effect on Monday 3'/i years after it was passed. The detailed means whereby the Act will be implemented were Cublished yesterday under le title of The
    519 words
  • Article
    A boost for business climate
    176 1 THE electorate's overwhelming endorsement of the PAP Government for a third successive term of office appears likely to bring satisfaction and renewed confidence to the foreign multinational companies Invested In Singapore. Summing up what appeared to be the general mood among foreign investors, the managing
    176 words
  • Article
    Lock icon VIETNAM OFFERS 100pc TO INVESTORS
    228 1 Reuter HONGKONG, Thurs. Vietnam is prepared to offer 100 per cent foreign ownership for export manufacturing industries as an incentive to entice foreign capital into setting up foreign exchange earning investment, the latest issue of the Far Eastern Economic Review says. Although Vietnam has yet
    Reuter  -  228 words
  • Article
    DBS Finance plan to lower rates well received
    481 1 THE recent lowering of Interest rates on housing loans announced by the Development Bank of Singapore (DBS) Finance Co. Is said to have received a tremendous amount of inquiries from the public. Although the lowered rates (down half a per cent) will
    481 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      36 1 Gel advanced copying technolog <! INSIDE Overseas news/TV Radio Overseas news/Features Local Co news International Co news Local stocks Overseas stocks P7 Commodities P8 Transport Communications P9 Features PlO Local Overseas news Pll Local Overseas news PI2
      36 words
    • Advertisement
      Page 1 Advertisements Column 2
      96 1 for,. quality gifts i Selangor Pewter has long been admired by connoisseurs the world over for its elegance and beauty. Individually handcrafted from 97% lead free. Straits refined tin,the beauty of quality pewter never dates. Functional as it is decorative, Selangor Pewter is the ideal gift. Selangor Pewter the world's
      96 words
    • Advertisement
      Page 1 Advertisements Column 3
      118 1 GO WITH SINTAT DIPLOMACY Singapore *****3, *****5 (Alport) Kuala Lumpur: *****/7* Panmg ***** No Business Times BUSINESS Times will not be published tomorrow and on Monday. Publication will resume on Tuesday. The paper wishes all its readers a Merry Christmas. CHARTERED MERCHANT B, L i f Providing full merchant banking
      118 words
Page thumbnail Page 2
  • OVERSEAS
    • Article, Illustration
      Lock icon FUKUDA IS NAMED LDP CHIEF
      555 2 Almost certain to be Prime Minister AP TOKYO, Thurs. Mr. Takeo Fukuda, a 71-year-old conservative and economist, was named President of the Liberal-Democratic Party (LDP) today, putting him in position to become Japan's new Prime Minister in 24 hours. The Diet (Parliament) will meet tomorrow
      AP  -  555 words
    • Article
      Lock icon Lebanon's plea to Waldheim
      145 2 AP UNITED NATIONS, Thurs. Lebanon yesterday urged Secretary-Oeneral Kurt Waldhelm to visit the warravaged country when he makes his expected tour of the Mid-East early next year. Mr. Ohassan Tuelnl, publisher of Beirut's A 1 Nahar, who is currently touring Western capitals on behalf of President
      AP  -  145 words
    • Article
      Lock icon Group of 10 to UK's aid
      391 2 Reuter PARIS, Thurs. The Group of 10 deputies agreed to activate 2.56 billion SDRS under the General Arrangement to Borrow In connection with Britain's application to borrow US$3 9 billion (559.56 billion) from the International Monetary Fund, British officials said. Arrangements are also being
      Reuter  -  391 words
    • Article
      Lock icon Simonet to EEC: Guarantee Britain a market
      244 2 AP BRUSSELS. Thurs. C The Common Market should offer Britain a guaranteed market for its oil in exchange for participation in oil exploration, said Mr. Henri Simonet, outgoing Common Market energy commissioner. Mr. Simonet, wiio is leaving the commission in the i next
      AP  -  244 words
    • Article
      Lock icon New year 'bonus'
      61 2 Reuter BUENOS AIRES. Thurs Argentina's military government today announced a 25-per-cent wage Increase for all workers from Jan 1 to meet higher living costs. Government sources said that despite periodic pay rises authorise since the military coup last March, the purchasing power of wages Is estimated to
      Reuter  -  61 words
    • Article
      Recall of funds may be forced on some
      377 2 LONDON, Thurs. Some oil exporting countries with large development programmes may have to withdraw part of their short-term deposits and Investments overseas because of Opec's two-tier pricing decision, bankers said. The Increase In disposable revenues stemming from higher oil prices may be
      377 words
    • Article
      Lock icon Pak's new fuel reserves worth $12 bil
      125 2 AP ISLAMABAD, Thurs. Dr. Shahzab Sadlq, chairman of the state-owned Oil and Gas Development Corp., yesterday placed the value of Pakistan's new found oil and gas reserves In the Dera Ghazl Khan area at US$5 billion (5512.25 billion). Mr. Sadlq told reporters the
      AP  -  125 words
    • Article
      Lock icon As violence recedes, the varied faces of Beirut come alive...
      1126 2 NYT BEIRUT, Thurs. Bankers and urban specialists have grandiose visions for the reconstruction of Beirut. Some of them propose to bulldoze the city's old commercial centre, which is a heap of rubble now, push the mass debris Into the sea
      NYT  -  1,126 words
    • Article
      WATCH ON FRENCH INDUSTRY ENERGY USE
      171 2 PARIS, Thurs. Prime Minister Raymond Barre announced new measures yesterday to reduce energy consumption by French Industry but he stopped short of Imposing outright rationing. At a news conference held Jointly with Industry Minister Michel d'Ornano, Mr. Barre said major energy consumers would be
      171 words
    • Article
      Lock icon Pact signed
      29 2 AP TOKYO, Thurs Cuba and Vietnam signed an agreement on economic, scien* tific and technical co-ope-ration for 1976-80 in Hanoi yesterday, the Vietnam news agency reported. AP.
      AP  -  29 words
    • Article
      Lock icon Union pushes Libya further out in the cold
      369 2 UPI CAIRO, Thurs. The Egyptian -Syrian union agreement, even though Its exact form has yet to be decided, has the immediate effect of further Isolating the Libyan regime of Colonel Oaddafl, Arab diplomatic sources said yesterday. The agreement almost completely sidestepped the
      UPI  -  369 words
    • Article
      Lock icon Portugal predicts record $4.3 bil budget deficit
      343 3 AP LISBON, Thurs. Portugal's five-month-old democratic government predicted a record 1977 deficit of 59 billion escudos (554.3 billion) last night in presenting to Parliament a budget totaling 158 billion escudos. The government proposed to cover the deficit by increased taxes, domestic loans, enforced
      AP  -  343 words
    • Article, Illustration
      Lock icon Ford proposes $3.6 billion aid for Israel
      578 3 WASHINGTON, Thursday NYT ADMINISTRATION officials said yesterday that President Ford had decided to propose a US$l.5 billion (553.6 billion) foreign aid package for Israel In the next fiscal year US$BOO million less than Israel had requested and US$3OO million less than the State
      NYT  -  578 words
    • Article
      Lock icon Japan and EEC agree to more talks on shipping
      383 3 AP TOKYO, Thurs. The European Economic Community will continue to push Its proposal that Japan and Western Europe share shipbuilding orders on a 50-50 basis starting next year, an EEC official said yesterday after two days of talks with Japan on
      AP  -  383 words
    • Article
      Lock icon 'Easier British money policy'
      95 3 Reuter LONDON, Thurs. British stockbrokers L. Messel and Co said the domestic credit expansion targets In the government's economic package signal a relaxation of monetary policy, and are not restrictive. In an analysis of the measures, the brokers said the easier monetary situa- tion must lead
      Reuter  -  95 words
    • Article
      Lock icon C-MARKET SUPPORTS RENEWAL OF TEXTILE PACT
      193 3 Reuter BRUSSELS. Thurs. The Common Market should be ready to accept a renewal of the international multi-fibre textile agreement but must seek steps to improve its defence mechanism against excessive imports, an EEC commission spokesman said. Preliminary negotiations on the renewal of the agreement,
      Reuter  -  193 words
    • Article
      Lock icon HOPES FOR WORLD ECONOMIC REVIVAL IN THE BALANCE
      1622 3  -  By LIONEL WALSH Reuter HOPES for world economic revival are in the balance as 1976 draws to its close, a year of faltering industrial recovery and declining prospects for world trade. Governments, bankers and businessmen face a series of questions that will
      Reuter  -  1,622 words
    • Article
      Lock icon 'Reduced French trade deficit'
      109 3 Reuter PARIS, Thurs French National Statistics Institute said France's foreign trade deficit should fall to about 1.5 billion francs a month from next spring. But the institute did not say If Its forecast Is In seasonally adjusted or unadjusted terms. In a report on the French
      Reuter  -  109 words
    • Article
      Lock icon German real growth
      68 3 Reuter BONN, Thurs. Real economic growth In West Germany next year Is likely to be between 4.5 and five per cent after 5.5 per cent In 1976, Mr. Otto Schlecht, State Secretary at the Economics Ministry, said. Both estimates are slightly lower than those made earlier this
      Reuter  -  68 words
    • Article
      Lock icon FARMERS CUT WINTER WHEAT PLANTING
      161 3 UPI WASHINGTON, Thurs. American fanners have cut winter wheat planting for 1977 by three per cent and dry weather may bold the eventual harvest eight per cent below this yttr'i crop, the Agriculture Depart* ment says. The predicted cutback followed record 1975 and 1976 total
      UPI  -  161 words
    • Article
      Lock icon Cook sued for $57 mil for cheating
      485 3 WASHINGTON, Thur*. AP THE United States Government sued America's third largest grain company for U5523.6 million (3557.3 million) yesterday, alleging fraud In the shipment of government-owned or financed grain to foreign countries. The suit against Cook Industries was filed by Justice Department attorneys
      AP  -  485 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      368 2 SEE THIS PAGE The first new idea in encyclopaedias in over 200 years Britannka 3. Britannica 3 does what no other encyclopaedia has ever done before: It serves the three basic needs of users in three distinct ways. \'T (see below) That's what makes it the most useable reference work
      368 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      339 2 WEATHER report for 24 hours prior to 7..W p.m. on Dec 23 at Singapore airport: Maximum temperature Associated humidity Minimum temperature Associated humidity Hours of sunshine Rainfall in millimetres Total rainfall for the month Total rainy days for the month E33EIBEM SINGAPORE 5 3.00 PM Opening Announcements and Cantonese drama
      339 words
Page thumbnail Page 3
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      26 3 *T7*-«rw B f: I i" littiisN mm sm •4 I 4 y.9: "4 9 s: -> tr i 1"; if* rtsr BI :>• •:r-5 -j? It* bMAwionwidykAJt fa
      26 words
    • Advertisement
      Page 3 Advertisements Column 2
      229 3 NKR MANUFACTURES REFRIGERATED CONTAINERS REACH-IN AND WALK-IN REFRIGERATORS/FREEZERS BOTTLE COOLERS STAINLESS STEEL FOOD SERVICE EQUIPMENT CUSTOM-MADE TO YOUR REQUIREMENT Remember the name NKR. Estd. 1956. r n? M I i NAM KAIK REFRIGERATION PTE. LTD. 25, Link Road, Jurong Town, Singapore 22. Tel: *****1,*****0, *****0. Cable: "COLDBOX" Singapore. It pays
      229 words
Page thumbnail Page 4
  • COMPANY NEWS
    • Article
      Hefty interim jump for NB Timbers
      314 4 THE high log prices during the better part of this year has contributed to another hefty increase In earnings at North Borneo Timbers. Following the 61 per cent rise In group pre-tax profit to M 517.58 million for the year ended May 31, 1976
      314 words
    • Article
      TAB Holdings acquires stake in Anika Ins
      280 4 KUALA LUMPUR, Thurs. Anika (Insurance), a bumiputra firm of Insurance brokers, has become a member of the TAB Holdings group of companies. TAB Holdings has acquired a substantial holding in Anlka's equity, thus making It the biggest shareholder in the broking firm. The
      280 words
    • Article
      Temenggong sells stake
      122 4 TEMENGGONG has disposed its entire 60 per cent stake in a dormant Malaysian subsidiary company, Kestana to another Malaysian company. The company says In a letter to the Stock Exchange of Singapore that all the six Msl shares In Kestana, which were held by whollyowned Ketarl (M),
      122 words
    • Article
      Kg. Lanjut down 35pc at half-time
      165 4 WITH the cessation of Its tin mining operations at Jinjang, Kampong Lanjut Tin Dredging now derives most of its income from its bank deposits and investments. No tin was produced during the half year to September 30 against 2.402 piculs previously. Thus, it's not
      165 words
    • Article
      Netherlands b/p surplus
      53 4 THE HAGUE, Thurs. Holland had a seasonally adjusted current account balance of payments of surplus in the third quarter of 1.78 billion guilders on a transactions basis against a 280 million surplus in the second quarter and a 660 million surplus in the third 1975 quarter. Finance
      53 words
    • Article
      Poor finish leads to drop for M. Cement
      405 4 AS a result of a severe setback In the second halfyear, pre-tax profit at Malayan Cement sUd 17.3 per cent to M 56.52 million for the year ended Nov 30, 1976. However, the company's chairman, Mr. S.F. Willey points out in a
      405 words
    • Article
      Operating loss at Renong Tin higher
      513 4 WITH its mining activity reduced to retreatment of discards, pre-tax operating loss at Renong Tin Dredging rose from M 546,619 to $101,222 for the year ended June 30 1976. It was mainly through Interest received on Its fixed deposit that the company managed to
      513 words
    • COMPANY MEETINGS
    • Article
      Turnover in KLSE
      113 4 CLOSING TONE: Steady. TURNOVER: Official total turnover as supplied by the Kuala Lumpur Stock Exchange Including odd lots totalled 1,250,000 units (1,896,000) with stocks and shares valued at $2,287,000 ($3,436,000) Of the total. Industrials accounted for 1,010,000 units (1,516,000) Finance 53,000 units, (117,000), Hotels nil units (1,000),
      113 words
    • Article
      Unit trusts
      163 4 SINGAPORE UNIT TRl'ST lMiu|rn pcio M for Dec 241 The Commerce 1.73 1 83 The Saving Fund 0 96 1.01 S pore Proa Fund 000 085 S nore Security Fund 1 2# 1.36 S pore Invest Fund 1 03 1 09 ASIA UNIT TRt'ST iNutim' pric* for Dec.
      163 words
    • Article
      World Bank
      26 4 FRANKFURT. Thurs. The World Bank's 250 million mark seven per cent 10year bond was priced at 98 Ber cent lead manager leutsche Bank said.
      26 words
    • Article
      Furukawa and Nissho wins M$11m contract
      159 4 KUALA LUMPUR, Thurs. The Furukawa Electric Company and Nlssho-Iwai Company have received a M 511.3 million order for the construction of an overhead transmission line from the National Electricity Board. The new 182 KV transmission line Unking Malacca with Scudal 21 km away, will
      159 words
    • Article
      SES queries Hytex on Hypak
      156 4 THE Stock Exchange oi Singapore has requested Hytex to advise on the outcome of the fescue operation for Its Malaysian associate company, Hypak in Malacca. The SES says In a letter to the company since October it has not been informed on the negotiations with
      156 words
    • Article
      DIVIDENDS ANNOUNCED
      452 4 1 Current Ex Date Total for Total for payment Date payable the year previous year Premium Hold. 7.5*+ Dec 6 Dec 23 7.5%+ 12% Bukit Katil 10% Dec. 8 Dec 28 10%+ 16% P.M. Holdings 7.5% Dec 14 Dec 29 7.5% 12.5% Island A Pen 7%+ Dec. 7
      452 words
    • Article
      Lock icon Record year for loans and credits in 1976
      182 4 Reuter NEW YORK, Thurs Identifiable International loans and credits rose to a record of at least US$7B billion this year from $61 billion In 1975, Morgan Guaranty Trust said. Gross new publicly announced international bond and Euro-currency market credits rose 42 per
      Reuter  -  182 words
    • Article
      Lock icon Toyota plans home sales drive in 1977
      221 4 Reuter TOKYO, Thurs. Toyota Motor Sales said it will launch a sales drive in the domestic market next year to increase its market share to 38 per cent in 1977 and further to 40 per cent from the present 37 per cent, excluding
      Reuter  -  221 words
    • Article
      Lock icon Argentina to export wheat to China
      90 4 Reuter BUENOS AIRES. Thurs. The 200.000 tonnes of Argentine wheat to be sold to China will be exported in five monthly 400.000 tonne shipments starting February, agriculture under secretary. Mr. Jorge Zorreguieta said. Speaking on his return from a 12-day visit to China as
      Reuter  -  90 words
    • Article
      Lock icon Rise in real spendable earnings in November
      123 4 Reuter WASHINGTON. Thurs. US real spendable earnings rose a seasonably adjusted 0.8 per cent In November following a 0.2 per cent increase in October and were unchanged from the same month a year ago, the Labour Department said. Average weekly earnings were up
      Reuter  -  123 words
    • Article
      SA consumer price index higher
      55 4 PRETORIA. Thurs. The all-items South African consumer price index rose 0.3 per cent in November to 181. base April 1970. compared with a 0.7 per cent gain in October, giving a 10.4 per cent increase in the ended November, down from October's 11.1 per cent
      55 words
    • Article
      EPA study on chemicals
      41 4 WASHINGTON. Thurs. The Environmental Protection Agency said it will study the synthetic organic chemical manufacturing industry towards developing regulations to control air pollution. The chemical, such as vinyl chloride, are used in plastics, pesticides, fibres, and pharmaceuticals.
      41 words
    • Article
      Lock icon The hottest Wall Street concept stock
      749 4 SONY CORPORATION NYT NEW YORK, Thurs. One of Wall Street's most successful techniques for convincing Investors that a stock Is cheap Is .concept selling. Whether the concept ultimately proves valid ls4ess Important over the short term than whether Investors believe the story. The stock,
      NYT  -  749 words
    • Article
      Lock icon Sony profit takes a leap of 82pc
      242 4 Reuter TOKYO, Thurs. Consolidated net Income at Sony nearly doubled to US$lO4 million from $57 million for the year ended Oct 31, 1976. The 82.4 per cent profit Jump came on the back of a 13.7 per cent rise In net sales to
      Reuter  -  242 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      443 4 You have only one face make the best of it Advice from Business Times. Ti If your corporate face isn t as good as it could be Business Times can help change it for the better. Few people place their trust in a total stranger. This has to be one
      443 words
Page thumbnail Page 5
  • INTERNATIONAL COMPANY NEWS
    • Article
      Pan Am suffers setback
      233 5 NEW YORK, Thurs. Last month Pan American World Airways suffered a net loss of US$6 million against $15.6 million last time, reducing the 11 month net profit to only $90 million. This, however, compares with a net loss of $26.6 million in the 11 months of
      233 words
    • Article
      Upsurge at Plysu
      188 5 LONDON, Thurs. In the 28 weeks ended Oct 15 1976 Plysu the plastic container and domestic ware group, has turned in profits more than doubled at £490,000 compared with £224,000, bringing them within £63,000 of the record total for 1975-76. With demand continuing at a record level
      188 words
    • Article
      Securities review outline
      96 5 LONDON. Thurs. Trade Secretary Edmund Dell announced the terms of reference of the securities market review body set up jointly by the Trade Department and the Bank of England. It will be asked to keep under review the functioning of the securities market and the arrangements for
      96 words
    • Article
      Lock icon Mitsui: Stds no bar to venture
      356 5 Reuter TOKYO, Thurs. A spokesman for Mitsui said the company does not expect Japan's anti-emission control standards on Imported vehicles will stand In the way of its plan to boost Japanese sales of British Leyland Motor cars In the next four years. Mitsui on
      Reuter  -  356 words
    • Article
      Lock icon Ford's export growth
      213 5 Reuter LONDON, Thurs. Ford Motor chairman, Mr. Terry Beckett, said 1976 direct exports of vehicles and components from the UK totalled 1625 million against £452 million last year. Allowing for inflation the real increase was 12 per cent. "We cannot afford to be complacent over comparisons with
      Reuter  -  213 words
    • Briefly
      • Article
        GM recalls Pontiacs
        85 5 WASHINGTON. Thurs. General Motors has agreed to recall 525,000 of its 1974 Pontiacs built with V-8 engines to correct a defect in the cars' emission control system, the Environmental Protection agency said. The EPA ordered GM to recall 330.000 of the Pontiacs on Oct 20. GM told
        85 words
      • Article
        Helaba
        69 5 FRANKFURT. Thurs. Hessische Landesbank Girozentrale (Helaba) said arrangements have now been completed under which it will receive 2.06 billion marks in cash by the yearend from its two joint guarantors to clear up its financial troubles. One of the guarantors, the Hesse State Savings Bank Association, said in a
        69 words
      • Article
        Natomas start-up
        62 5 SAN FRANCISCO. Thurs. Natomas said its Cinta H platform in the South-east Sumatra contract area of Indonesia commenced production at an initial rate of about 12.000 barrels of oil daily. It brings the total number of producing platforms in the Cinta field to eight and raises productive capacity
        62 words
      • Article
        Shell
        88 5 RIO DE JANEIRO, Thurs. A Shell Oil and Enserch Exploration consortium signed an oil exploration risk contract with the Brazilian petroleum monopoly Petroieo Brasileiro SaPetrobas, Petrobras said. The contract covers 6,150 km 2 in the mouth of the Amazon river on the Amapa continental shelf. Work will be carried
        88 words
      • Article
        Egam
        76 5 ROME. Thurs. The Italian parliamentary finance commission approved government plans to provide 335 billion lire In short-term aid to state minerals group Egam. to avoid liquidation of seven of its subsidiaries. At a specially convened session of the finance commission. minister for state participations. Mr. Antonio Bisaglia. outlined Egam's
        76 words
      • Article
        US Steel
        82 5 NEW YORK. Thurs. US Steel denied an overseas press report which said it has informed the Brazilian Government it no longer considers itself obliged to say by Dec 31 it will continue its association with Cia Value do Rio Doce (CVRD) in Brazil's Carajas iron ore project. A
        82 words
      • Article
        E – Aquitaine
        62 5 E Aquitaine PARIS, Thurs. Shareholders of Elf-France, Antar-Petroles de L'Atlantique and Socantar approved the regrouping of the refining and distribution activities of Elf-France and Antar, the Elf-Aquitaine group said. The regrouping Involves Elf-France taking over the refining and distribution activity of Antar-Petroles de L'Atlantique in France, and the creation of
        62 words
      • Article
        K. Smale
        111 5 LONDON. Thurs. An increase from £101,299 to £121,564 pre-tax profit is reported by Kennedy Smale for the first six months to Sept 30, 1976 and the directors anticipate a similar improvement in the second half. They also intend to declare in due course an unchanged interim dividend of
        111 words
      • Article
        A-Busch
        75 5 ST LOUIS. Thurs. Anheuser-Busch said it expects to take a US$5 million charge-off equal to 11 cents a snare to its fourth quarter earnings as a result of converting its Busch Gardens Theme Park in Los Angeles into a sales promotion facility. In the 1975 fourth quarter the company
        75 words
      • Article
        French cars
        85 5 PARIS. Thurs. French automobile production fell to 268,300 units in November from 279,536 in October but was 22.4 per cent up on November 1975, the Car Makers Association said. Output in first 11 months 1976 was 2.68 million unit.* up 17 per cent on the same year-ago period.
        85 words
    • Article
      Lock icon Std Indiana boosts spending
      204 5 Reuter CHICAGO, Thurs. Standard Oil (Indiana) said its board approved a record capital and exploration budget of US$2.l billion for 1977, which is 23 per cent or $400 million higher than estimated 1976 spending. Included In the 1977 budget are increased outlays for exploratory drilling In
      Reuter  -  204 words
    • Article
      Iran
      37 5 TEHERAN. Thurs. Iran has agreed to lend Bulgaria US$l5O million repayable In the products of agricultural projects to be undertaken with the loan, a protocol signed here said. No other details of the loan were given.
      37 words
    • Article
      Lock icon Prelim injunction on comex options rule
      212 5 Reuter NEW YORK. Thurs. A federal Judge here has issued a preliminary injunction against the dual segregation funds rule for commodity options trading promulgated recently by the Commodity Futures Trading Commission. Judge Whitman Knapp of the district court held that the regulatory effect of
      Reuter  -  212 words
    • Article
      Lock icon Borg Warner sells stock to Bosch
      164 5 Reuter CHICAGO, Thurs Borg Warner Corp said it has reached a preliminary agreement to sell two million shares of Its common stock to Robert Bosch of West Germany for U5562.9 million cash, the equivalent of $31.45 a share. Borg Warner said Bosch will buy
      Reuter  -  164 words
    • Article
      Record loan issues
      67 5 BASLE. Thurs. New money raised on the Swiss capital market by public loan issues will reach a record of around 12 billion francs in 1976, up from about 8.6 billion last year. Schwelzerischer Bankverein said. The Swiss Government was the largest borrower in the market, raising around
      67 words
    • Article
      Lock icon Amal Petroleum proposes wind-up
      185 5 Reuter MELBOURNE, Thurs. Amalgamated Petroleum said it will seek shareholders approval for the winding-up of the company if shareholders previously approve the sale of its unencumbered assets. Amalgamated said it accepted a A 5220.000 offer for the sale of its unencumbered assets, excluding listed shares, from
      Reuter  -  185 words
    • Article
      Lock icon LOSS AT BURTON
      765 5 FT LONDON, Thurs. With a second half loss of L 2.4 mil--1 lion compared with profit of 1550,000, the Burton Group j of retailers, men's outwear manufacturers and property managers, finished the year to Aug 28, 1976, with a pre-tax deficit of 11.35 million against profit of
      FT  -  765 words
    • Article
      Lock icon Guthrie soars at midway
      499 5 FT LONDON, Thurs. Profits before tax of Outhrle Corporation rose sharply from 11.51 million to £4.69 million in the half-year ended June 30. 1976. Turnover increased from H01.71 million to 1133.47 million. The directors say the group has made good progress in the first half and
      FT  -  499 words
    • Article
      Lock icon Xerox optimistic
      150 5 Reuter STAMFORD. Thurs. Xerox Corp Expects 1976 earnings to exceed the record U*****.9 million, or $4.37 a share of 1974. and the $341.6 million or $4.29 a share in 1975, a company spokesman said. The spokesman also said 1976 revenue will be a record, topping revenue of $4.05
      Reuter  -  150 words
    • Article
      Lock icon Accountants see the need for fresh initiatives
      880 5  -  Information for employees By MICHAEL LAFFERTY FT THE disclosure of financial information to employees must be one of the most talked about and controversial issues in industry and the City today. A significant contribution to the debate, which is not only forthright and
      FT  -  880 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      60 5 V Ye,<- OT l 4 <vo 7 '■4 12 «C7TTH 1 <744 t 4 c> f N i) J r> Hs Chivas Regal Scotland's prince of whiskies It's waited 12 years for you. Another fine product brought to you by (privatalltd. 175 BlH.ll TIMAM KOAI> m» SINGAPORE II) TEL 6669
      60 words
    • Advertisement
      Page 5 Advertisements Column 2
      66 5 r i r y; V, J *r/> a A varied range of quality sports and leisure time products that will make wonderful gifts for your family and friends this festive season are available from KING COMPANY, the Sporting Paradise. for all your sports and leisure time requirements. r J^!J .a.it
      66 words
Page thumbnail Page 6
  • Article
    Lock icon Municipal bonds: 2 sides to the coin
    846 6 NYT NEW YORK, Thurs. The municipal bond mutual fund Is a new investment vehicle being widely promoted as the first practical means by which the small Investor can paitlcipate in the tax-exempt bond market. But not everyone is convinced that these new funds
    NYT  -  846 words
  • Article
    Hooker dismisses rumours
    106 6 SYDNEY. Thurs. Hooker chairman, Mr. J.K. Campbell told a meeting of investors his company had no liquidity problems and said future dividends would definitely be in line with previous years. Hooker shares fell sharply last week following the publication of a Melbourne broking circular which stated the
    106 words
  • Article
    Lock icon HK consumer price
    105 6 Reuter HONGKONG. Thurs. Hongkong's 'A' consumer price index was unchanged in November at 113 while the "B' index rose 0.9 per cent to 114 (base for both 1973/1974). following 1.7 per cent falls in both indices In October, ill census and Statistics Department said. Both indices were
    Reuter  -  105 words
  • Article
    Lock icon Senegal
    73 6 Reuter DAKAR. Thurs. .Senegal's groundnut production in 1976/77 will be only 1.18 million tonnes, down 330.000 tonnes on 1975/76 owing mainly to bad weather in the north of the country. Prime Minister Abdou Diouf told the National Assembly. He forecast production of rice will be 112,000 tonnes, maize 47.000
    Reuter  -  73 words
  • Article
    Lock icon Gold demand rises
    195 6 Reuter JOHANNESBURG, Thurs. Industrial and manufacturing offtake of gold this year is estimated at over 1,000 tonnes, excluding coin, against western world production of some 940 tonnes, Anglo American Corp of S.A. Free State Gold Mines chairmen Messrs. D A. Etheridge and D.B. Hoffe said. There is
    Reuter  -  195 words
  • Article
    Lock icon Welding industry picks up in US
    661 6 NYT NEW YORK. Thurs. Shipbuilding and airplane construction are just two of the complex jobs that require expert welders. Yet little is heard about welding as a sophisticated craft that offers a large and continually growing source of employment. A recent government study shows
    NYT  -  661 words
  • Article
    Lock icon BOC profit rises
    159 6 Reuter LONDON, Thurs. On a 25.2 per cent rise in turnover. BOC International has been able to raise pre-tax profit by 59.6 per cent for the year ended Sept 30,1976. Profit rose to £73.64 million from £46.13 million while sales increased to £607.6 million from £485.1 million
    Reuter  -  159 words
  • Article
    EIB loan to Italy
    130 6 LUXEMBOURG. Thurs. The European Investment Bank announced six loans totalling 90.2 billion lire for projects in the depressed Mezzoglorno region of Italy and to help industrial recovery in the earth-quake-stricken Frlull area. It has made two lnan« of 28 billion lire and one of 20 billion
    130 words
  • Article
    Lock icon N-energy review
    783 6 NYT NEW YORK, Thurs. In the opinion of a self-styled despairing optimist, the 20-year-old multinational drive to harness thermonuclear fusion to create electric power resembles a group of pioneers crossing a river and climbing a mile-high mountain only to confront a range of mountains 16 km high. The
    NYT  -  783 words
  • Article
    Lock icon Delay in NYC note payment
    244 6 Reuter ALBANY, Thurs. A decision by the New York state court of appeals on a plan for the repayment of US$l billion in short-term New York City moratorium notes may not be reached before early February, a court spokesman said. He said papers submitted by
    Reuter  -  244 words
  • Article
    Lock icon Video games under scrutiny
    75 6 Reuter WASHINGTON. Thurs. The Federal Trade Commission said it is conducting an investigation to see if electronic video games adversely affect television picture tubes. The FTC emphasized its probe is only to determine whether any adverse affects in fact occur and that it has reached no
    Reuter  -  75 words
  • Article
    Lock icon Thai rice export target at midway
    176 6 Reuter BANGKOK. Thurs. Thailand has won export contracts for nearly half of the rice targeted for export next year, deputy undersecretary of state for agriculture Mr. Charae Chutharatanakul told reporters. He said Indonesia had already contracted to buy 300.000 tonnes of 25 per cent
    Reuter  -  176 words
  • Article
    Coconut exports
    68 6 MANILA. Thurs. Exports of coconut products from the Philippines totalled 2.12 million tonnes in copra terms in the first 11 months of 1976. against 1.65 million tonnes in the year-ago period, the United Coconut Association said. Foreign exchange earnings from the exports totalled U*****.3 million ($439.7 million). Coconut
    68 words
  • Article
    KLSE fairly steady
    462 6 FAIRLY steady condition* with a few distinctly firm ■pots characterised trading on the Kuala Lumpur Stock Exchange yesterday. But buying was cautious, with most dabblers evidently pre/ccupied with the long stretch of ChristmasNew Year holidays ahead. An additional factor was the closure of the Singapore market for
    462 words
  • Article
    Transactions in KL
    1183 6 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. INDUSTRIALS Ajinomoto (1.90 B 2.00 S) Alcorn (2.20 S) Alex. Holdings (0.85
    1,183 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      254 6 V-'<> ggvT K§ 'fcsN i .< I 4 -*'v m J 4 '^TCf: mSm mmm W^^y o "cr <** 0* <*r > ft '«4< -2 v 4. s#i _Tv M* NS& "> t tiviv v<s v-V' v% v* Mx ,f "Z&S'.'-Jt "rj& to,. mi *1* J.vl -•i; .-fj.v ■k>: B§pa|
      254 words
Page thumbnail Page 7
  • Article
    New York
    1044 7 NEW YORK: Stocks. feMMn* partly on carry ow demand Hum luesday, moved ahead smartly In heavy trading on Wednesday. Analysts said many traders were encouraged by the rebound In glamours and blue chips late In the previous session, and by the (act that more US banks have Joined
    1,044 words
  • Article
    Jo'burg
    357 7 JOHANNESBURG: Gold shares traded barely steady in quiet business on Wednesday, dealers said. Heavyweights were very quiet and steady where traded, while medium and lightweight counters gained around five cents. Financial minings shadowed producers with small gains. De Been gained one cent to 377. Copper counters were higher, with
    357 words
  • Article
    Frankfurt
    208 7 FRANKFURT: Sham rose on Wednesday following Wall Street's firmness and renewed gains on the bond market, dealers said. Among leading shares, VW rose 3.70 marks, Stomma 3.90, Deutsche Bank 3.50 and Maaaa*mann 2.50. Most other sectors gained up to two marks. Public sector bond prices gained up to 0.35
    208 words
  • Article
    Amsterdam
    305 7 AMSTERDAM: The market closed mostly firmer on Wednesday after a quiet session, dealers said. AKZO fell 0.30 guilders after announcing It will omit an interim payment and saying it may pass final payment. Hoogavans was unchanged, but other Dutch internationals firmed. Transports were higher, but KNSM fell 2.50. Banks
    305 words
  • Article
    Zurich
    233 7 ZURICH: The stock market moved slightly higher in active dealings on Wednesday, drawing some support from Wall Street's recovery and from the latest Olass National Bank monthly survey, dealers said. Leading banks and flnanclals generally rose moderately with Holderhaak Bearer, OerlikoaBuehrle and Pirelli markedly higher. Insurances were narrowly mixed.
    233 words
  • Article
    Brussels
    147 7 BRUSSELS: Local shares were mostly lower In thin trading on Wednesday dealers said. Electrobel and Gevaert rose against the trend, but falls included Traction, Union Miniere, Hainaut-Sambre, Moaane, Finoutremer, CBR and Arbed. Oolds were mixed, but most foreign stocks were higher, encouraged by Wall Street, dealers added. Petroflaa and
    147 words
  • Article
    Toronto
    334 7 TORONTO: The Industrial index rose 3.08 points Its largest gain in over 28 months as all sectors of the market advanced strongly In active trading on Wednesday. Steels, real estate concerns, oil refiners and industrial mines paced the upturn. Brokers were at a loss to explain both the sudden
    334 words
  • Article
    Milan
    158 7 MILAN: The mark ,~sed Irregularly higher oi Wednesday on selective deman with light proflttaklng. dealers said. Both Olivetti Issues. Pirelli EC and Aaic gained moderately In mixed Industrials, but Montedison, SniViseooa and Fiat eased. Assieuratriee General! firmed in Insurances, as did IFI Privileged In flnanclals, but Bastoffi lost ground
    158 words
  • Article
    Paris
    410 7 PARIS: Shares closed mixed In quiet trading on Wednesday. The addresses yesterday by President Valery Olscard D'Estalng and Prime Minister Raymond Barre aooeared to have little effect on trading, dealers said. The 1/2 point rise In call money to 10-3/4 per cent slmllary had little market impact. they added.
    410 words
  • Article
    Manila
    186 7 MANILA: The market gained a few points on Thursday but turnover declined considerably. dealers said. Mining leaders stayed firm as metal prices edged upwards and oils gained slightly In anticipation of a Christmas Day drilling start off Western Palawan by a Filipino consortium, they said. Gainers included Bagnio GoM.
    186 words
  • Article
    Sydney
    393 7 SYDNEY: The market closed generally firmer on Thursday with mines gaining and Industrials steady In thin trading, dealers said. The Sydney All-Ordinaries Index rose I.SI points to close at 430.93. BH South rose four to 1.10, and MIM, North BH, Peko Wallsend, and Western Mining each gained a few
    393 words
  • Article
    Tokyo
    518 7 TOKYO: The market closed mixed with an easier undertone on Thursday as leading stocks met profit taking and liquidation due to an increase In outstanding balance of buying in margin trading, dealers said. The Dow Jones average lost 2.35 to 4,909 48, with volume 400 million shares. The New
    518 words
  • Article
    Hongkong
    443 7 HONOKONO: The market closed higher In fairly active trading on Thursday, boosted by firmness on overseas markets, dealers said. The Hang Sent, Index roae five points to 439.28, Its highest closing level for more than eight months. Today's rise also took the market for the first time above the
    443 words
  • Article
    CHICAGO BOARD OPTIONS
    1105 7 On December 22 PRICES on the Chicago Board Options Exchange on Wednesday advanced as gainers topped losers, 383 to 90. Volume approximated 83,734 contracts, compared with 82,813 contracts on Tuesday. OPTION JAN APL JLY STOCK Alcoa 45 10 NOL NOL 54 3/4 Alcoa SO 5 1/4 8
    1,105 words
  • Article
    Bangkok
    81 7 IMCt' 23 Bahts Asia Fibre 1108 unch Bangkok Bank 237 ♦2 Bangkok Invest. Bangkok-Metro-politan Bank Bala 3618 unch Berll Jurker 1M unch Chamong Thai Wire 152 unch Dumex Duslt Thanl Faber Merlin First Trust 1408 -5 Indo-Thai J And J Ho 1«4 ♦2 Jalaprathan 788 Cement Karnasuta 3W LeeKwanfMln
    81 words
  • Article
    Market Holidays
    32 7 THE following stock markets will be dooed for the Christmas holidays: Today Toronto, Milan, Zurich, Frankfurt and US (including Chicago Board Options Exchange). Monday Sydney, Brussels, Hongkong, Johannesburg and London.
    32 words
  • Article
    Indices
    93 7 financial times industrials Wednesday 344.5 Tuesday .337.8 Week ago .313.8 TIN Wednesday .127.72 Tuesday 126.59 Week ago .118.90 rubbers Wednesday .497.26 Tuesday 488.07 Week ago .477.17 OILS Wednesday .417.75 Tuesday .410.61 Week ago .387 84 DOW JONES AVERAGE INDUST RIALS Wednesday 984.54 Tuesday .978.39 Week ago 983 79 LONDON
    93 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      176 7 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
Page thumbnail Page 8
  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market
      412 8 KUALA LUMPUR, Thurs. Dealers said that prices In the Malaysian rubber market opened half a cent lower following easier London advices and then lost further ground on light stale bull liquidation. However, at the lower levels, better buying Interest emerged and the decline was checked. The afternoon session
      412 words
    • Article
      SSR and SMR
      89 8 DAILY SSR and SMR prices at noon yesterday: M.K.K.L.B. Jan. (Current Mth) Buyer* Seller* (cents per kg) (Korvurd Mlh) Buter* Seller* (cent* per kg) SMR5CV SMR 5L SMR 5 SMR 10 SMR 20 SMRM 11-ton Pallet) (1-ton Pallet) (1-ton Pallet) (1-ton Pallet) (1-ton Pallet) (1-ton Pallet) 216
      89 words
    • Article
      Palm oil
      132 8 THE following Palm Oil prices were quoted In London on Wednesday The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Wednesday Prev. Malaysia 5* ffa bulk 448 sir Jan unch Feb 450 sir 445 sir Mch 450 sir 445 sir Sumatra
      132 words
    • Article
      Produce Prices
      130 8 In LONDON the following pepper prices were quoted on Dec 22 (Sterling per long ton elf European porta delivered weight unless otherwise stated Sarawak While: Spot 1.500 sir Afloat 1.360 sir. Dec/Jan 1.350 sli Sarawak Black Special: Spot 1.300 sir Afloat 1.180 sir Dec/Jan 1.155 sir Brazilian White:
      130 words
    • Article
      Straits tin
      231 8 THE Strains tin price in Penang yesterday was up $5.37 ft to $1,241.50 per plcul on an official offering down 90 tonnes to 188 tonnes. In LONDON yesterday, tin recorded gains of £35 tonne for Cash and around £15 for Three Months in the Standard contract. High grade
      231 words
    • Article
      Closing prices
      25 8 Kubber: Dec 23 Singapore: closed. Malaysia: Jan. 198.00 cents, (down 0.50 cents) Tin: $1,241.50 (up $SJ7'i) Official offering: IKM tonnes (down 90 tonnes)
      25 words
    • Article
      Lead
      88 8 LONDON, Thurs. Lead fell by £5.50 per tonne for Cash and £3.25 for Three Months. The market fell back from Wednesday's higher levels under Investment liquidation and pricing sales which pushed Cash down to £292 per tonne before renewed covering cushioned the fall, dealers said. The movement widened the
      88 words
    • Article
      Gold
      295 8 HONGKONG, Thurs. Gold closed $2.40 lower at HK$753 per tael, equivalent to U*****.40 an ounce. In year quiet trading, bullion dealers said. The market opened slightly easier, and most traders were sidelined ahead of the holidays. Fluctuations were narrow, between $750.70 and $753.70. The international gold price closed unchanged
      295 words
    • Article
      Silver
      106 8 LONDON, Thurs. Silver showed losses of 2.5 to 3.0 pence per troy ounce. The market continued to lack fresh buying Interest, dealers said, while lower gold and the bullion dealers' fix were restraining influences. Three Months traded finally at 265.5 pence. Carries accounted for about half the turnover of
      106 words
    • Article
      Copper
      292 8 LONDON, Thurs. Copper wire bars were unchanged for Cash and £2.00 per tonne down for Three Months. Values were steady on the pre-market reflecting the overnight New York trend, fluctuations in sterling and some West German physical interest which lifted Three Months to £821 per tonne, dealers said. The
      292 words
    • Article
      Zinc
      49 8 LONDON. Thurs. Zinc fell by 1'3.50 per tonne for Cash and C 4.00 for Three Months. This metal drifted back under stale bull liquidation and some stoploss selling which took Three Months down to £402 in the ring and £401 on the kerb. Only 600 tonnes changed hands.
      49 words
    • Article
      Sugar
      188 8 LONDON, Thurs. Terminal opened quiet £0.15 to £0.60 higher than Wednesday's levels. Sales totalled 280 lots. Market sources said there was no fresh news and activity was mainly confined to light shortcoverlng and booksquarlng orders In front of the Christmas holiday. By the end of a very quiet morning,
      188 words
    • Article
      Soybeans
      123 8 CHICAGO, Wed. Soybean futures closed with gains of 1* to V 4 cent a bushel, finishing the Ught-ly-traded session below the day's highs. After shrugging off some initial weakness, prices advanced on shortcovering and light speculative buying aided by commercial buying. Crush spread buying also contributed to the advance.
      123 words
    • Article
      Wheat
      137 8 CHICAGO, Wed. Wheat futures closed one to Yt cent a bushel higher on a thin volume of trade. Firmness In soybean futures encouraged light speculative support, with the continued soil moisture deficiencies In winter wheat areas lending support to deferred months. Anticipation of the USDA estimates of 1977 winter
      137 words
    • Article
      Rice
      221 8 BANGKOK. Thurs. Indicative prices for rice quoted in Bangkok yesterday were: US dollars per tonne fob basis Bangkok White Rice: 100 per cent Ist class 290 100 per cent 2nd class 275 100 per cent 3rd class 270 5 per cent 258 10 per cent 237 15 per cent
      221 words
    • Article
      Lock icon RUSSIANS FIND 'MOUNTAIN OF IRON' NEAR ANTARTICA
      866 8 NYT MCMURDO SOUND, (Antarctica) Thurs. In the Prince Charles Mountains, near the coast of Antarctica facing the Indian Ocean, Soviet explorers have found what one American geologist here described as a mountain of Iron. Discoveries In other locations on this continent chiefly by
      NYT  -  866 words
    • Article
      Coffee
      586 8 LONDON. Thurs. The terminal opened steady £31 to £12 per tonne down from last night's close with 230 lots traded. Most positions ended the call near the highs with March last traded at £2,827 compared to a high of £2,830 and low of £2,815. Dealers said scattered selling took
      586 words
  • MONEY AND EXCHANGES
    • Article
      London
      277 8 LONDON, Wed. Sterling moved up slightly to US$l.6BBO/90 from $1.6860/70 overnight, but most European currency movements were minimal as banks started to complete positions for the ChristmasNew Year period, dealers said. The pound was assisted by unprecedented London overnight interbank sterling Interest rates of up to 500 per cent,
      277 words
    • Article
      New York
      184 8 NEW YORK. Wed. The dollar closed slightly weaker here reflecting, in part, the continuing softness of US short-term Interest rates and a move into deficit from surplus in the US November current account balance of payments. Dealers said the New York Federal Reserve Bank was not detected In
      184 words
    • Article
      Minimum lending rates (in %)
      55 8 Minimum lending rates (in ACBC 6% Algemene Bank ,6\ Bangkok Bank Bank of America 6*« Bank of China .7* Bank of Tokyo Bank Negara Indonesia 7'« Chartered Bank .6*. Chase Manhattan 6 DBS 6'» First Chicago 6\ Citibank 6*« HSBC 7 Indosuez 6% Malayan Mitsui Bank OCBC OUB 6V« UCB
      55 words
    • Article
      Hongkong
      97 8 HONGKONG, Thurs. The US dollar eased towards the close to HK54.7190/7220, after opening at $4.7240/7270 and moving at one stage to $4.7250/7280. Business was generally slack In a thin pre-hollday market with the late decline of the US currency attributed mainly to lack of Interest, dealers added. Other currencies
      97 words
    • Article
      Tokyo
      104 8 TOKYO, Thurs. The US dollar for overnight dellvery closed slightly lower in hesitant trading at 293.60 yen compared with 293.80 at the opening and 293.65 at Wednesday's close. Dealers said the Initial higher level attracted some year-end selling but this was counteracted by importer buying of forward dollars. However,
      104 words
    • Article
      Australia/NZ
      50 8 AUSTRALIA/NZ exchanges quoted on Dec. 23. Australia: Sterling 0.6423/0.6349 US dollar 1.0797/1.0749 Ninety day air mall buying rates: Sterling 0.6730 US dollars 1.1053 Ninety day forward buying rates: Sterling 0.6615 US dollars 1.0833 New Zealand: Sterling 0.5604/0.5572 US dollar 0.9493/0.9393 Ninety day forward rate: Sterling 0.6016/ US dollar 0.9670
      50 words
    • Article
      Frankfurt
      32 8 FRANKFURT exchanges opening quotes on Dec 23. US 2.3655/75 Can 2.3325/40 UK 3.990/4.005 Neth 95.80/95 Switz 96.72/87 Italy 2.730/745 France 47.45/60 Norw 45.60:70 Belg con 6.545/560 Belg fin 6.55/56 Japan 0.8060/8080
      32 words
    • Article
      Euro $ rates
      138 8 Euro rates LONDON, Wed Period Eurodollar deposits opened higher following the loss of the Friday dealing technicality, dealers said, while shorts were unchanged. Trading was very quiet. Time deposits showed little change from openings though some rollover Interest saw Six Months harden 1/16. Dealers reported steady levels with most operators
      138 words
    • Article
      Zurich
      56 8 ZURICH exchanges quoted on Dec. 22. US 2.4435 4455 UK 4.1135 1195 Can 2.4005 4040 W. Germ 103.14 31 Neth 98.88 99.07 France 48.99 49.07 Belg 6.76 77% Denm 42.14 21 Norw 47.00 47.07 Swed 58.95 59.04 Italy 0.2822 2826 Austria 14.52 55 Port 7.74 77 Spain 3.57% 58%
      56 words
    • Article
      Eurobond prices
      276 8 LONDON, Thurs. Euro- bonds held steady to a shade J firmer in places In gene- rally quiet trading, dealers said. US Issues gained up to point where changed, still affected by lower short term US Interest rates. In convertible bonds, Ja- panese issues were quietly mixed to a
      276 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      81 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Hmes BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) >«s— BUSINESS TIMES Subscription Form Name:-. Address: Designation: Payment for is enclosed All subscriptions are payable in advance and should be
      81 words
Page thumbnail Page 9
  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Soviet's $9.6 bil truck plant coming to life...
      925 9  -  By DAVID SHIPLER NYT NABWREZHNYE CHELNY, (Soviet Union), Thurs. The newest Soviet industrial giant, an Immense truck plant armed with complex American and West European technology, Is slowly coming to life on a vast, desolate plain beside the Kama River. After seven
      NYT  -  925 words
    • Article
      Lock icon Docking quays will be increased
      118 9 Reuter CAIRO, Thurs. Suez Canal authority chairman Mashour Ahmed Mas hour said that the number of docking quays in Suez would be increased to 60 from 40 to accommodate the increasing number of ships transitting the canal from the Red Sea, the semiofficial Al-Ahram reported
      Reuter  -  118 words
    • Article, Illustration
      IN PORT
      327 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Dona Monterrat (2000) 8/9 Indian Mail (2359 after Vishva Yash) 33/34 Inverbank (after Cornelia Maersk) 3/4 Partizanskaya Slava (after Kerguefen) 31/32 Rosario Maru (JJAN) (after Mari Boeing) 15/16 Yue Kwok (1400 after Straat Johpre) 40/41 PASIR PANJANG WHARVES Black Whale (1500 22/12) (1160
      327 words
    • Article
      Lock icon BA rapped for making 'no further jet-lag' claim
      251 9 CANBERRA, Thursday UPI AP BRITISH Airways has been warned against making claims about reduced jet lag on Concorde flights by the Australian Trade Practices Commission. The commission issued the reprimand saying the claims may be deceptive and misleading. The official warning, before
      UPI; AP  -  251 words
    • Article
      Lock icon London freight market
      171 9 AP LONDON. Thurs. Chartering on the London freight market showed sign of slowing yesterday in advance of the Christmas holidays. Reported fixing was confined to Just a few North American grain movements. Rates displayed little change from Vecent weakened levels. These Included such figures as US$5.O5 (FIO)
      AP  -  171 words
    • Article, Illustration
      Lock icon Russia far ahead in military aviation than US
      542 9  -  By ROBERT MUSEL UPI SOVIET Russia is so far ahead In military aviation that the United States might possibly be forced to use nuclear weapons if war broke out between the two superpowers, according to Jane's All The World's Aircraft. The new
      UPI  -  542 words
    • Article
      Volvo car sales likely to exceed target
      354 9 SALES in Singapore for Volvo cars are likely to exceed target this year with 104 units worth $3.1 million, already sold in the first 11 months of this year. Sales for the whole of 1975 -were only 105 units. Federal Auto, agents in
      354 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      561 9 ARRIVALS Service Local Operator Number Time From CPA PAA CX003 PA841 0145 0950 HKO SFO/HNL/ OUM JAL SIA OIA JL712 SQ211 OA 980 1000 1010 1030 HLP HLP HLP OIA PAL KLM OA 908 PR501 KL833 1100 1115 1150 MES MNL AMS/ATH/ KHI/CMB SIA SIA SN SQ201
      561 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      628 9 SINGAPORE From January 1977 SINGAPORE BUSINESS is on sala. What, another business publication? No, not just another. In fact, we were here first and businessmen here still find they need Singapore Track and Industry monthly to give them the depth, the essential facts and figures and the "inside dope" on
      628 words
Page thumbnail Page 10
  • Article, Illustration
    Lock icon GLOBAL FOOD SUPPLIES ON THE INCREASE
    1040 10 B JACK PAYTON: Rome UPI WORLD food supplies are at their highest level in four years but agriculture experts warn the x dream of eliminating hunger in lessdeveloped countries is still far from being realised. Officials at the UN Food and Agriculture Organisation say
    UPI  -  1,040 words
  • Article
    Lock icon CYPRUS IS BACK ON ITS FEET
    1044 10  -  Blessed with plenty of skills and an entrepeneurial outlook on life, the Greek Cypriots are rapidly pulling themselves up by their bootstraps. -By PATRICK COCKBURN Financial Times NOT FAR from the ruins of ancient Salamls north of Famagusta the 738 bed Salamis Bay Hotel,
    Financial Times  -  1,044 words
  • Article, Illustration
    Lock icon The problems Carter will face overseas
    930 10  -  By FLORA LEWIS NYT DESPITE ingrained habits, the leaders of Western Europe are holding their breath to hear the drop of an Inaugural oath from Washington. The questions, and the problems, they have piling up to put to the new administration are both urgent
    NYT  -  930 words
  • Article
    Lock icon It's the D mark that gets the action
    502 10 OBERHOF (E. Germany) AP EAST Germany has a second currency, the West German Deutsch mark. No one admits this is so and 'the dimensions of handling the D-mark in the East can only be estimated. But traffic certainly runs into the hundreds
    AP  -  502 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      189 10 V>« MONTHLY ECONOMIC REPORTS With monthly politicol supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique publication offers businessmen eoch month o comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is
      189 words
Page thumbnail Page 11
  • Article
    Lock icon Japan mission to discuss corn project in Hanoi
    295 11 UPI TOKYO, Thurs. Japan will send a private business mission to Hanoi In February for talks on Japanese aid in development of a vast corn growing project In Vietnam, business sources disclosed today. It will be organised by Keldanren (Federation of Economic
    UPI  -  295 words
  • Article
    PR firm sets up office in Brazil
    133 11 BURSON M ARSTELLER, an International public relations firm, says It now has an office In Latin America, following the setting up of a Joint company In Sao Paulo, to be known as Burson Marsteller /Fa tor. Burson-Marsteller's new Brazilian office will be Its
    133 words
  • Article
    Lock icon Crackdown on illegal trade in S. Arabia
    228 11 AP JEDDAH, (Saudi Arabia), Thurs. Hundreds of foreign shopkeepers In Saudi Arabia have been holding golng-out-of-buslness sales this week in the face of a government crackdown on illegal trade In the country. A new law went Into effect yesterday the first day of
    AP  -  228 words
  • Article
    Lock icon 7 pc rise in Thai GDP next year: Forecast
    272 11 Reuter BANGKOK, Thurs. Thailand's Gross Domestic Product (GDP) should rise by seven per cent at constant prices in 1977 compared with an expected €.2 per cent for 1976, the National Economic and Social Development Board (NESDB) forecast in i report. The
    Reuter  -  272 words
  • Article, Illustration
    Lock icon From Chou to Carter
    2345 11 AS 1976 BOWS OUT, SOME EVENTS FIND THEIR NICHES IN HISTORY'S ANNALS Reuter LONDON, Thurs The departure of Mao Tse-tung and the arrival of Jimmy Carter dominated the world stage in 1976 against a sombre backdrop of deepening economic gloom. China repeatedly caught the headlines as
    Reuter  -  2,345 words
  • Article
    Lock icon US is first to contribute to UN food fund
    249 11 AP UNITED NATIONS, Thurs. The United States yesterday became the first signer of an agreement establishing a fund of over $1 billion (about 552.45 billion)to help poor countries boost food output. Mr. Daniel Parker, administrator of the US Agency for International
    AP  -  249 words
  • Article
    Route for SIA's Boeing 727
    243 11 THE first Boeing 727 aircraft that Singapore Airlines has committed Itself to purchasing will be used on -the Singapore/Manila route when It arrives next October. This was revealed In a {>ress release from the alrlne which summarised the agenda and conclusions of a meeting attended
    243 words
  • Article
    Lock icon Experts say special help needed
    340 11 AP WASHINGTON, Thurs. The top three members of US President-elect Carter's economics team met yesterday and appeared to agree that the United Btates economy will fall short of Mr Carter's goals next year unless It gets special help. It was their first meeting since their
    AP  -  340 words
  • Article
    Jakarta gold and forex reserves leap
    550 11 JAKARTA, Thurs. The latest Weekly Report of the Bank Indonesia registered a steep Jump of aoout 260 billion ruplahs (about 551.22 billion) of gold and foreign exchange assets from end-September to the second week of October. The major reason for the Jump Is most
    550 words
  • Article
    Axed workers: Concern grows
    203 11 PENANG, Thurs. Trade and industry is concerned over the recent retrenchment of 272 workers by two electronics factories here. Deputy Trade and Industry Minister Datuk Mohamed Rahmat said the Ministry viewed the matter seriously and was keeping a close watch on the industry. He was speaking
    203 words
  • Article
    Lock icon KOWLOON RAIL STUDY
    96 11 AP HONGKONG, Thurs. Government has appointed a British consultant firm to carry out an economic and technical feasibility study of the Kowloon-Canton Railway's US$2BO million (SS6B6 million) modernisation and expansion programme, a spokesman said today. He said the firm, Transmark, a subsidiary of the British Railways Board,
    AP  -  96 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      317 11 APPOINTMENTS GETZ BROS. Co.. INC. A leading international American .Company, well-esta-blished over a century invites applications for: CHEMICAL SALES EXECUTIVE THE MAN: Should have at least 2 years in marketing of chemicals or allied products Possessed a clean driving licence and a car. .Capable of working independently A person with
      317 words
    • Advertisement
      Page 11 Advertisements Column 2
      387 11 An international company with Marine and Trading activities invites application for the following positions to be based in Middle East. A. ADMINISTRATIVE MANAGER Candidates with first hand practical experience in Port Administration are invited to take up position. B. CHIEF ACCOUNTANT A highly qualified account familiar with operating systems of
      387 words
Page thumbnail Page 12
  • Article
    Time for govt to reflate economy, says brokers' firm
    397 12 AGAINST tht background of a sluggish equity market In Singapore, one firn* of stockbrokers, Ong Company, believes that the time Is ripe for the government to reflate the economy. "Some consumer spending should be encouraged, especially In view of a exceptionally
    397 words
  • Article
    Lock icon Pledge on tanker safety hearings
    196 12 AP SEATTLE, Thurs. Senator Warren Magnuson. chairman of the United States Senate Commerce Committee, says he'll open hearings on oil tankers safety measures as soon as Congress reconvenes." Sen. Magnuson, De-mocrat-Washlngton, said yesterday that the US Coast Guard bore much of the blame for lapses
    AP  -  196 words
  • Article
    Lock icon Grants for ADB
    92 12 AP MANILA, Thurs. The Asian Development Bank said today the European Economic Community will provide U551,875,000 (554.422.000) in grants for the bank's technical assistance operations in several Asian countries. The bank said Its board of directors approved the cooperative arrangement today. It will provide an im- portant
    AP  -  92 words
  • Article
    LONDON STOCKS
    756 12 LONDON, Thurs. The market closed mixed. At 3 p.m., the Financial Times Index was down 0.2 at 344.3. Trading volume was smaller due to seasonal influences, dealers said. Government bonds gained 1/8 point and occasionally more among longer maturities. They had been down about 1/2 point late yesterday
    756 words
  • Article, Illustration
    Lock icon HOW SINGAPORE VOTED...
    42 12 AT THE time Business Times went to press, the People's Action Party won 67 of the 69 seats. The shaded areas in our map indicate the seats won by the PAP at press time BT map by ALLAN CHAN
    BT map by ALLAN CHAN  -  42 words
  • Article, Illustration
    Plea by Khoo to Hussein over ouster?
    326 12 TAN Sri Khoo Teck Puat (above), head of the Goodwood Hotel chain, Is believed to have appealed to the Malaysian Prime Minister, Datuk Hussein Onn, over his being dropped from the board of Malayan Banking. It Is understood that Tan Srl Khoo Is
    326 words
  • Article
    Lock icon Comeback by Griffiths
    60 12 Reuter HONGKONG, Thurs. Mr. P.J. Griffiths has agreed to rejoin the board of Hutchison International with immediate effect following last week's termination of merger talks with Wheelock Marden, Hutchison chief executive William Wyllie said In a statement. Mr. Griffiths, who Is deputy chairman and executive director of
    Reuter  -  60 words
  • Article
    Lock icon Marcos welcomes shipbuilding offer
    158 12 Reuter MANILA, Thurs. President Ferdinand Marcos today welcomed an offer by a Japanese firm to assist in shipbuilding and engineering in the Philippines, the Presidential Palace said. Officials of the Mitsui Zosen of Japan headed by Mr. Isamu Yamashlta, president of the firm and of the
    Reuter  -  158 words
  • Article
    Lock icon Dell outlines terms for securities mart panel
    101 12 Reuter LONDON. Thurs. Trade Secretary Edmund Dell announced the terms of reference of the securities market review body set up jointly by his department and the Bank of England. It will be asked to keep under review the functioning of the securities market
    Reuter  -  101 words
  • Article
    Canada bans sale of nuclear plants
    432 12 PAKISTAN HIT BY DECISION CANADA has Joined West Germany and France in banning the future export of nuclear plant and technology to countries which have not ratified the nonproliferation treaty on nuclear weapons. Announcing this decision in Ottawa on Wednesday, Foreign Secretary Mr. Don
    432 words
  • Article
    Shell's top priorityties with Petronas
    626 12 Shell's top priority—ties with Petronas KUALA LUMPUR, Thurs Shell's main priority is to establish a good and smooth relationship with Petronas. the managing director of Shell upstream companies, Mr D.J.C. Schuurmans, said. "After having faced them across a negotiating table for a year, we must now become partners, colleagues and
    626 words
  • Article
    Air-con coaches start today
    153 12 KUALA LUMPUR, Thurs. Malayan Railway's airconditioned coaches will be put into service tomorrow. The Commercial Director of Malayan Railway, Mr. T. Antoing, said today that initially three coaches each would be added to the popular People's Express service between Butterworth and Singapore and viceversa. He said
    153 words
  • Article
    Lock icon FILIPINO ACCORD WITH REBELS CLOSE
    119 12 UPI MANILA. Thurg. President Marcos said yesterday a nine-point agreement had been reached in peace talks with FiHpino Muslim rebels and that only one issue remained to be resolved to end the four-year-old secessionist movement in the southern Philippines. In an Armed Forces Day speech,
    UPI  -  119 words
  • Page 12 Advertisements
    • Advertisement
      Page 12 Advertisements Column 1
      62 12 Now, a French restaurant that truly flatters your taste for the finest. In food, service and quiet entertainment. Dine by candlelight on exquisite French fare. And dance to soft music by I he Belvedere I rio. Come to 1 he Belvedere Singapore's French restaurant par excellence. t V v <>
      62 words