The Business Times, 14 April 1977

Microfilm: NL9063
Total Pages: 12
1 12 The Business Times
Page thumbnail Page 1
  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, APRIL 14, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Asean shippers meet
      60 1 ASEAN shippers will meet here on Monday to prepare a common stand against the Far East Freight Conference which Is proposing a 13.75 per cent freight hike. The two-day meeting will be attended by more than 40 delegates from the Asean Shippers' Councils, who will on the
      60 words
    • Article
      Lock icon Two-tier price to end?
      52 1 Reuter KUWAIT, Wed. The world's major oil exporting states are expected to end the present two-tier oil price system at the next Opec ministerial conference due to be held in Stockholm on July 12, Dr. Mahmoud Al-Nusseir, Kuwait assistant Oil Ministry under-secretary for economic affairs, said
      Reuter  -  52 words
    • Article
      Lock icon Jobless hits high
      26 1 Reuter OTTAWA, Wed. Unemployment in Canada jumped to 944,000 in March, the highest figure since the government started collating statistics In 1953. Reuter.
      Reuter  -  26 words
    • Article
      Lock icon Spinners' cartel
      43 1 Reuter TOKYO, Wed. The Japan Wool Spinners Association said today it filed an application with the Fair Trade Commission for approval of Its plan to form a three-month recession cartel to tide over the current slump in the worsted yarn market.
      Reuter  -  43 words
    • Article
      Lock icon China fights drought
      53 1 AP TOKYO, Wed. All vehicles have been mobilised and even washing basins are being used to carry water to the fields in the fight against drought in China's Shantung and Honan provinces, a Peking broadcast said today. The two provinces have had little rain or snow since
      AP  -  53 words
    • Article
      Lock icon 500,000 in US strike
      70 1 UPI WASHINGTON, Wed. An estimated 500,000 clothing and textile workers went on strike briefly today to persuade President Carter, Congress and the American public there is need for tighter restrictions on imported apparel. The protesting workers staged lunch hour rallies at city halls and federal buildings
      UPI  -  70 words
    • Article
      Lock icon Growth rate halved
      58 1 UPI BERLIN, Wed. The rate of growth of the Chinese economy slowed down in 1976 because of natural catastrophes and political upheavals, the German Institute for Economic Research said today. It said that the rate of growth was 3.5 per cent, only half of the average rate
      UPI  -  58 words
    • Article
      Lock icon Taiwan surplus down
      54 1 AP TAIPEH, Wed. Taiwan had a trade surplus of U5529.7 million (5573.1 million) in the first quarter of 1977, down from a $65.5 million surplus in January-March 1976, the Government reported today. Exports totalled $1,840.4 million, up 5.6 per cent from 1976, and imports were-$1,810.7 million, up
      AP  -  54 words
    • Article
      London stocks higher
      33 1 LONDON, Wed. The stock market advanced further today and at 3.00 pm the Financial Times index was up 10.5 at 418.4. Dealers attributed the advance to firmness in Wall Street.
      33 words
    • Article
      Lock icon Dow Jones
      41 1 UPI NEW YORK, Wed. Dow Jones averages, based on first hour of trading on the New York Stock Exchange: 30 Indus 933.43, down 3.73; 20 transp 229.69, unch; 15 utlls 108.10, up 0.04; 65 stocks 309.21, down 0.70. UPI
      UPI  -  41 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      175 1 THE Singapore stock market took a turn for the better yesterday as shares steadied in rather cautious trading. Gains were mainly chalked up by the popular, speculative industrials. This was reflected in the advance of 3.93 points in the Business Times index to 260.51. The Straits Times
      175 words
    • Article
      In Kuala Lumpur
      115 1 Rises Most active Shell $3.78 .06 Central Sugars 71,000 O.C.B.C. $6.85 .05 High Low 63.000 C. Sugars $1 52 .04 Haw Par 22.000 Pan Elect $1.87 .03 Sime Darby 17,000 P.M.C. $2 59 .03 Total Turnovc: 0.27 M High and Low $1 43 03 Total Value: MI0.4d
      115 words
  • Article, Illustration
    Payoff findings a surprise for exec
    673 1 STORE MCDERMOTT MAN SPEAKS UP THE man in charge of operations in three of the 14 countries, where his company is alleged to have made "questionable" payments to government officials, last night expressed surprise at the allegations. The J. Ray McDermott group was alleged
    673 words
  • Article
    PETROCHEM COMPLEX TALKS MAKING HEADWAY
    169 1 TALKS between senior government, officials and top Sumitomo executives now in their third day are expected to tie up loose ends in both the technical and financial aspects of the proposed $2 billion petrochemical project to be set up at Pulau Ayer Merbau. The discussions
    169 words
  • Article
    FEH suit
    24 1 FAR .Eastern Hotels Development filed a suit with the Supreme Court yesterday claiming delivery of share certificates from millionaire Cho Jock Kim.
    24 words
  • Article, Illustration
    US$50 mil issue by Bank of Tokyo
    636 1 THE Bank of Tokyo announced yesterday that its Dutch subsidiary. Bank of Tokyo (Curacao) Holdings of the Netherlands Antilles, will be floating a US$5O million bond In the European and Asian bond markets next week. The issue, which Is the second from the
    636 words
  • Article
    Lock icon Talks on joint aircraft project
    237 1 Reuter NEW YORK, Wed. British Industry Minister Gerald Kaufman said he will discuss with McDonnell Douglas Corp the possibility of a Joint civil aircraft project with the state-owned British Aerospace Corp. Mr. Kaufman told Reuters during a visit here that such a project will depend
    Reuter  -  237 words
  • Article
    KLSE standstill
    117 1 KUALA LUMPUR. Wed. Trading on the Kuala Lum- pur Stock Exchange came to a virtual stand-still due to a break-down In telephone communications between the trading floor and brokers' offices. The break-down snapped off a recovery expected in the market following the overnight firmness of prices and Improvements
    117 words
  • Article
    Lock icon New twist to strike
    183 1 Reuter LONDON, Wed. Trade unions at London's Heathrow Airport, in a move aimed at ending a crippling strike by British Airways engineers there, have abandoned an agreement which enabled the airline to resume some European flights this week. Under the deal, unions not involved in the
    Reuter  -  183 words
  • Article
    Lock icon Asean in accord on buying surplus oil
    185 1 Reuter MANILA. Wed. Philippines, Singapore and Thailand will be able to buy all the net exportable oil surplus of Malaysia and Indonesia if required In times of shortage following a recent agreement, Energy Board chairman Oeronlmo Velasco said today. In times of over-supply,
    Reuter  -  185 words
  • Article
    Lock icon Tin price gains $34
    57 1 Reuter KUALA LUMPUR. Wed. The Straits tin price In Penang firmed Ms 34 per plcul to $1,426, SlOl above the International Tin Agreement celling, dealers said. Market sources attributed the firmness to heavy Japanese buying together with steadiness on the London Metal Exchange. Turnover fell to
    Reuter  -  57 words
  • Article
    Lock icon HK bank cuts prime and deposit rates
    352 1 Reuter HONGKONG, Wed. Hongkong and Shanghai Banking Corp yesterday announced a reduction in its best lending rate to 4-3/4 per cent from 5.5 per cent, effective today. The Hongkong Bank said it will also cut its six-month deposit rate by 3/4 per cent
    Reuter  -  352 words
  • Article
    Lock icon Yen on the retreat as dollar advances
    513 1 Reuter UPI TOKYO, Wed. The yen weakened against the US dollar today after the Japanese currency yesterday rose to the highest level In 3v» years on the Tokyo foreign exchange market. In the wake of a two-day slump, the US dollar bounced back
    Reuter; UPI  -  513 words
  • Article
    Lock icon 'Soviet bloc owes West $86bil'
    130 1 Reuter GENEVA, Wed. Eastern Europe's debts to the West which have caused some concern among bankers could have climbed to about US$35 billion (SsB6 billion) at the end of last year, a United Nations report said today. Several estimates made In Europe In the past
    Reuter  -  130 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      35 1 Colour TV is simply great Overseas News/TV Radio Overseas News/ Feature Local Co News Overseas Stocks P2 Commodities Transport P3 Communications P4 Features International Co News P 5 Local Overseas Local Stocks P 6 News
      35 words
    • Advertisement
      Page 1 Advertisements Column 2
      110 1 Trade Debts cam be ready Funds frozen in trade debts can be converted into cash freeing working capital to work profitably for you. Accounts Receivable Financing provides working capital without borrowing against fixed assets. The service that gives every company a revolving credit arrangement. Costs are only incurred when this
      110 words
    • Advertisement
      Page 1 Advertisements Column 3
      154 1 CONTACT PLESSEY SINGAPORE 14 Slim Road Singapore 13 Tel 805M1 *****' 71 7~ y ■■in I r '"'ill f M 5 i ffl i'l'-i 1 1 u WM. ■KI BUKfllPi %l lllllil§!§s§§B3sB§ s*f Kjm W&W&L..3r* ■■:'> Wf S-. ~i pw" Ha w H, ;,v. Penang-Cathay I^cifids new place in the
      154 words
Page thumbnail Page 2
  • OVERSEAS
    • Article
      Lock icon Carter to reveal his world food policy
      684 2 DETAILS ON GRAIN RESERVES, AID AP WASHINGTON, Wed. A US delegation In Rome is prepared to let other countries In on some details of Carter Administration world food policy, including what kind of global reserves of grain and aid to needy countries the
      AP  -  684 words
    • Article
      Lock icon CARS WILL BE USED TO STOP CONCORDE
      266 2 Reuter NEW YORK, Wed. Protesters against the Anglo-French Concorde supersonic airliner plan to choke access roads to New York's Kennedy Airport with hundreds of cars next Sunday. Crammed Into the auditorium of a primary school in Howard Beach, near Kennedy Airport last night,
      Reuter  -  266 words
    • Article
      Lock icon Palm oil output revised
      82 2 Reuter WASHINGTON, Wed. Zaire's palm oil production In 1977 is forecast at 145,000 tonnes, down from 155,000 in 1976, a US Agriculture Department dispatch from Kinshasa says. The report noted that despite a government authorisation requirement for internal shipment of palm oil because of smuggling, distributors
      Reuter  -  82 words
    • Article
      Lock icon Court ruling a blow to Tokyo TV imports
      394 2 UPI NEW YORK, Wed. Zenith Radio yesterday won a major decision In its battle against Japanese television Imports to the United States. The US customs court here ruled unanimously that the tax rebates the Japanese Government gives to its electronics manufacturers to
      UPI  -  394 words
    • Article
      Lock icon California may get Japan car plant
      380 2 AP LOS ANGELES, Wed. Japan's "Big Three" auto makers are being forced by "protectionist fever" to build factories In the United States, and California could get at least one of the new plants, said Governor Edmund G. Brown Jr. Returning from his self-financed 39th-blrthday
      AP  -  380 words
    • Article
      Lock icon What better ties can do
      325 2 UPI MANHATTAN, Wed. Former Senate majority leader Mike Mansfield, expected to be the next US Ambassador to Japan, said yesterday he wants diplomatic relations Improved between the two countries to improve flow of business and political information. Mr. Mansfield, who did not run for re-election
      UPI  -  325 words
    • Article
      Lock icon 'It's against rules of Gatt'
      95 2 Reuter TOKYO, Wed. Japanese International Trade and Industry Ministry officials said today the US Federal Customs Court ruling in favour of imposing countervailing duties on Japanese electronic products such as colour TV sets infringes provisions of the General Agreement on Trade and Tariff (OATT). They
      Reuter  -  95 words
    • Article
      Lock icon Japanese likely to buy UK motor parts, accessories
      232 2 Reuter LONDON, Wed. Britain in the long term can become a significant exporter of motor components and accessories to Japan, according to a Joint statement issued today after a tfkree-week mission to Britain by Japanese motor Industry executives. The 13 Japanese officials
      Reuter  -  232 words
    • Article, Illustration
      Lock icon Patch-up moves by two after SALT failure
      306 2 UPI WASHINGTON, Wed.— President Carter and the Soviets are beginning to mend fences after a breakdown of the Moscow talks on strategic nuclear arms limitation. The White House says that a "mutually arranged" 40-minute meeting between Mr. Carter and Mr. Anatoly Dobrynin in
      UPI; Source: UPI photo  -  306 words
    • Article
      Lock icon India offers Viets help
      52 2 Reuter NEW DELHI, Wed. External Affairs Minister Atal Bihari Vajpayee yester-day-night offered to share India's experience and trained manpower with Vietnam to help in the reconstruction of that country. He was speaking at a dinner he hosted for the visiting Foreign Minister of Vietnam Nguyen Duy
      Reuter  -  52 words
    • Article
      Lock icon Shipping: Call for bigger share by Third World
      483 2 Reuter GENEVA, Wed. Mr. Oamanl Corea, Unctad secretary-general, called for a greater share of world merchant shipping trade for developing countries. Opening a 10-day session of Unctad's Committee on Shipping, Mr. Corea said he is disappointed by the fact developing countries have
      Reuter  -  483 words
    • Article
      Lock icon 'Use credits to Reds as lever'
      221 2 AP BRUSSELS, Wed. The United States and its allies should use the US$4O billion (Ss9B billion) In predlts that they have advanced to the Soviet bloc as "part of an effective and credible disarmament effort," a prominent West German politician suggests. He Is Mr.
      AP  -  221 words
    • Article
      Lock icon FDA plan to ease saccharin ban
      256 2 AP NEW YORK, Wed. The US Food and Drug Administration Is considering modifying its proposed ban on the artificial sweetener saccharin to allow its sale as a nonprescription drug while eliminating it as a food additive, the Columbia Broadcasting System reported yesterday. Quoting FDA
      AP  -  256 words
    • Article, Illustration
      Lock icon IMF plan to raise $36b gets approval
      552 3 WASHINGTON, Wed Reuter INTERNATIONAL Monetary Fund managing director Mr. H. Johannes Wltteveen's plan to raise up to US$l5 billion (Ss36 billion) In additional resources won widespread approval when It was formally Introduced at a Fund board meeting on Monday, Informed monetary sources said.
      Reuter  -  552 words
    • Article
      Lock icon Americans to pay for domestic oil proposal
      600 3 NYT WASHINGTON, Wed. President Carter's energy programme, to be presented to Congress next week, will propose that American consumers should eventually pay for domestic oil and natural gas at least the same price set by an International cartel for oil that is imported,
      NYT  -  600 words
    • Article
      Lock icon 'US must conserve energy'
      558 3 IF WORLD'S ECONOMY IS TO BE STABILISED... UPI NEW YORK, Wed. The conservation of energy, particularly by the United States, is an absolute necessity If the world's turbulent economy Is to be stabilised, Mr. Arthur Burns, chairman of the Federal Reserve Board, said yesterday. Mr. Burns
      UPI  -  558 words
    • Article
      Lock icon QUEBEC TIGHTENS ITS SPENDING AND BORROWING...
      433 3 NYT QUEBEC. Wed. Quebec, a frequent bidder for funds In New York and other financial markets in recent years, will be seen much less this year under the US$ll.5 billion (5527.6 billion) budget unveiled last night by the new government, which seeks to make
      NYT  -  433 words
    • Article
      Lock icon Solomon: No plans to sell gold at present
      215 3 Reuter WASHINGTON, Wed. Treasury Under-Secretary for Monetary Affairs, Mr. Anthony Solomon, said the United States is not scheduling a further gold auction at this time. However, Mr. Solomon said in a letter to Rep Henry Reuss, chairman of the House Banking Committee,
      Reuter  -  215 words
    • Article
      Lock icon Euromarts activity remains strong early in the year
      522 3 Reuter WASHINGTON, Wed. Activity In the Eurobond and Eurocurrency markets continued at a strong pace early in 1977, capital markets division of the OECD said. The OECD study, published in the IMF's "survey", found new external bond offerings running at an annual
      Reuter  -  522 words
    • Article
      Lock icon Swiss reserves fall
      79 3 Reuter ZURICH, Wed. Switzerland's foreign currency reserves fell 2.37 billion francs to 13.36 billion In the week ended April 7, the National Bank said. The National Bank said the decline reflected liquidation of end month and one month swaps with the banking system, although It did contract
      Reuter  -  79 words
    • Article
      Lock icon $532 mil Saudi-Kuwait loan for Egypt
      216 3 $532 mil SaudiKuwait loan for Egypt AP CAIRO, Wed. Suez Canal authority chairman Mashour Ahmed Mashour was quoted yesterday after his return from a trip to Arab Gulf States as saying that Saudi Arabia and Kuwait have agreed to loan Egypt US$222 million (*****.8 million) to help expand the Suez
      AP  -  216 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      515 2 THE DEBT US' TRAP m k» —m y.'•»« Aixc HOW TO [SURVIVE THE SLUMP a u»j«je tc me corx****" C nee* ONSUMER PRODUCT A DCVELOPMENT ?Ol H KICK WHITI O Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most power- ful supra-national government
      515 words
    • Advertisement
      Page 2 Advertisements Column 2
      3 2 See Page 10
      3 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      89 2 BriStoW: FtanicDictenS E DCPiR s<&, NERve Of TvOS£ mpoc PUBLISHERS, wePF "Sacuxro. r &3> WE. V3E.TORNIMG TVt£_ i rcitoCi\(t: voor mp*Ajscae>r OF xoo^PßoF.ie DePR SiPS, IPI «£PLY TO YOUR USUS-M Tb THIS «£JfeCTO< HOTt OF Tne LIVING PIS UG. CPvtsl see Fofc r Book SR REG>WP\LD CMfe&li&R-PG«eY NtoußS ex:..*. PS.
      89 words
    • Miscellaneous
      Page 2 Miscellaneous Column 2
      50 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on April 13 at Singapore airport. Maximum temperature 33.6° C Associated humidity Minimum temperature c Associated humidity H Hours of sunshine 8.60 Rainfall in millimetres Nil Total rainfall for the month '5.7 Total rainy days for the month 4
      50 words
    • Miscellaneous
      Page 2 Miscellaneous Column 3
      238 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Housewives' Matinee 3.45 General Hospital 4.30 Intermission 6.00 Opening Announcements followed by Elephant Boy 'The Gamblers"* 6.30 News in Brief* 6.35 Tadika (Malay) (r) 7.00 The Lost Islands 6.05 P.M. Opening Announcements followed by Bugs Bunny and Friends* 6.25 Children's
      238 words
Page thumbnail Page 3
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      288 3 Which bank helps you come to grips with today's fast-moving world? We do. Bank of America. In today's rapidly changing world situation,the successful execution of business plans calls for flexibility and fast response. Information must be current and complete, and requires constant alertness by a professional staff, both in the
      288 words
Page thumbnail Page 4
  • COMPANY NEWS
    • Article
      Esso (M) applies for increase in prices
      769 4 ESSO Malaysia has applied to the Malaysian government for an increase in the controlled retail prices of its products to recover the additional cost of crude oil It has to bear this year following the price hike last December. Chairman and managing director,
      769 words
    • COMPANY MEETINGS
    • Latest results
      • Article
        UNITED INDUSTRIAL CORPORATION
        36 4 Unaudited pre-tax profit $4.88 million ($3.76 million) on turnover $14.86 million ($10.22 million) for t£e first half-year ended Jan 31, 1977. Minority interests $38,000 ($36,000) leaving attributable profit at $4.84 million ($3.72 million).
        36 words
    • Article
      Adverse weather cancels better rubber price
      332 4 ADVERSE weather conditions experienced by Guthrie Ropel last year offset the better rubber prices It received so that It was only able to report marginally Improved figures for the year ended Dec 31, 1976. Guthrie had to contend with a prolonged drought early In
      332 words
    • Article
      DIVIDENDS ANNOUNCED
      637 4 Current Ex Date Total for Total for payment Date payable the year previous year M.B.S. 15% Mar 4 Apr 14 15% 15% Olympia Plywood 6%TE Mar 29 Apr 15 6%TE Nil Huim (F.E.I 5%I Mar 22 Apr 16 5%I 10% Batu Lintang 5%I Mar 29 Apr 18 5%I
      637 words
    • Article
      PEOPLE IN BUSINESS
      215 4 DATUK Mohamad Yusoff bin Haji Ahmad has resigned as vice chairman of Oulnness Malaysia and subsidiaries Guinness Sabah, Guinness Sarawak, Guinness Pusat and Guinness Singapore. Mr. Lim hheng Guan has been appointed as director of Guinness Pusat. Kullm (Malaysia) has appointed Datuk Haji Basir Ismail as Its
      215 words
    • Article
      Profit target is within reach of S. P. Textiles
      765 4 JUDGING by its interim results. South Pacific Textile Industries would have little difficulty meeting its forecast of a group pre-tax profit after minority interest of 53.16 million for the current year ending Sept 30, 1977. As the halfway mark, the group
      765 words
    • Article
      Conplant offers to buy B. Matang shares
      388 4 CONSOLIDATED Plantations (Conplant) yesterday unveiled details under which It Intends to pay out nearly £1.4 million to acquire the remaining shares of two plantation companies In which it has minority stakes. The offer, which was made on March 24, is to acquire the
      388 words
    • Article
      Job for private sector
      616 4  -  WRITING ACCOUNTING RULES: By FREDERICK ANDREWS WRITING accounting rules for the nation's business should remain Job for the private sector, according to a hlghlevel review panel, but the current standard-sett-ing apparatus the Financial Accounting Standards Board and Its supporting organisations should be revamped In several Important
      616 words
    • Article
      CHICAGO BOARD OPTIONS
      1415 4 On April 12 TRADING In options on the Chicago Board Exchange expanded to 120,048 contracts compared with 91,673 on Monday. OPTION APL JLY OCT STOCK Alcoa 50 73/4 UNTRD 83/8 57 3/4 Alcoa 80 1/16 1 1/8 17/8 57 3/4 Am Tel 50 UNTRD NOL NOL 62
      1,415 words
    • Article
      Lock icon Chemical firm invests more in new plants
      183 4 FT LONDON, Wed. Albright and Wilson, one of the world's four major producers of phosphorusbased chemicals, Is investing more than £26 million in new plants In Britain and Canada. The company, which made record pre-tax profits for last year of £31.6 million an
      FT  -  183 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      191 4 Give us a man fora monthwell give him a language for life infingua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in
      191 words
Page thumbnail Page 5
  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Merrill Lynch falls sharply
      242 5 Reuter NEW YORK, Wed. First quarter earnings to March 25. 1977 at Merrill Lynch have fallen sharply to US$B.5l million from $43.74 million or to 24 cents a share from $1.23 a share. Revenue dropped from $317.9 million to $238.4 million. However, the company said the
      Reuter  -  242 words
    • Article
      Lock icon NEC, Ricoh deal
      123 5 Reuter TOKYO, Wed. Nippon Electric Co said It signed a business tie up agreement with Ricoh regarding sales of their products in the field of office computers. The agreement, confined to domestic sales for the time being, starts with marketing NEC's office computers on Ricoh's network and
      Reuter  -  123 words
    • Article
      OCL profit doubles
      430 5 LONDON, Wed. The declining value of the pound helped Overseas Containers to more than double its pre-tax profit last year. In Its annual report for the year ended November, 1976. OCL Britain's leading shipping container consortium, shows pre-tax profit of £42.55 million compared with £20.28 million for
      430 words
    • Article
      Mersey Docks and Harbour turnround
      489 5 LIVERPOOL. Wed. Mersey Docks and Harbour has announced a trading profit of £5.18 million In 1976, compared with trading losses of £147,000 in 1975 and £3.9 million In 1974. Chairman, Mr. John Page, said trade held up better than expected In the second half of
      489 words
    • Article
      Lock icon Cerro may resort to legal action
      125 5 Reuter NEW YORK, Wed. Cerro Copper Products, division of Cerro Marmon, is working on possible legal action to obtain a federal restraining order against the wildcat strike at its east St. Louis copper refinery, Mr. Harold E. Lewln, president, told Reuter In a telephone
      Reuter  -  125 words
    • Article
      Lock icon UK govt reviewing scheme
      98 5 Reuter NEW YORK. Wed. The British Government will have to consider closely whether British Leyland's planned investment In a new Mini car can still be Justified. British Industry Minister Gerald Kaufman told Reuter. Mr. Kaufman said, during a visit to New York, British Leyland has been
      Reuter  -  98 words
    • Article
      Lock icon Johnson & Johnson
      72 5 Johnson Johnson Reuter RARITAN, NJ Wed. Johnson and Johnson said first quarter sales were up to U*****.6 million from the year ago $602.3 million. The company said domestic sales were about $427.5 million, up 19 per cent from $359.0 million and international subsidiaries sales were about $290.1 million, also up
      Reuter  -  72 words
    • Article
      Lock icon Booker McConnell
      77 5 Reuter LONDON. Wed. Booker McConnell said it should substantially increase profit In 1977 with the greater part of the Increase expected from the expanded food distribution division and the turnround in the general engineering division. Chairman Mr. George Bishop said in the annual report all other six divisions
      Reuter  -  77 words
    • Article
      Lock icon NN
      26 5 Reuter AMSTERDAM. Wed. The Nationale Nederlanden US$3O million eight per cent seven year private placement at par was oversubscribed, Bank Mees En Hope said. Reuter.
      Reuter  -  26 words
    • Article
      MG expects higher income
      399 5 FRANKFURT. Wed. Metallgesellschaft (MG), the Frankfurt-based metals, engineering and transport concern, is expecting higher operation profit in the current 1976-77 business year. For 1975-76, the concern's management Is proposing an unchanged 10 per cent dividend despite a further fall in net profit. Dr. Jakobus Greven, a
      399 words
    • Article
      Lock icon GKN makes rights issue
      856 5 FT LONDON, Wed. Announcing 1976 taxable profit of £28.1 million ahead at £97.75 million. Guest Keen and Nettlefolds is calling for some £66.8 million to be raised by means of a rights issue on the basis of one-for-five at 265 pence. At mid-way profit was i"7.03
      FT  -  856 words
    • Article
      Lock icon Earnings down at Int'l Paper
      169 5 Reuter NEW YORK, Wed. International Paper said first quarter net earnings fell to US$l.O4 a share from $1.43 a share previously. Net earnings declined from $63.6 million to $48.6 million following a drop In sales to $850.1 million from $866.8 million. The company explained that
      Reuter  -  169 words
    • Article
      Lock icon Exploration by Elf Aquitaine unlikely
      161 5 Reuter PARIS, Wed. -Ste Natlonale Elf Aquitaine said exploration in the Mer d'lrolse is unlikely this year due to the legal dispute between France and Britain over the Median Line In this part of the English Channel. An international arbitration tribunal In Geneva is due
      Reuter  -  161 words
    • Article
      Lock icon Standard Brands' bid for Van Nelle shares
      153 5 Reuter AMSTERDAM. Wed. Standard Brands said it agreed with De Erven Wed. J. Van Nelle to offer 280 guilders in cash per 100 guilders in cash per 100 guilder' nominal Van Nelle share, inclusive of any 1976 dividend to be paid. The bid
      Reuter  -  153 words
    • Article
      Lock icon GE drops Claude takeover plans
      134 5 Reuter PARIS. Wed. The US General Electric has dropped plans to take a 90 per cent stake in the French electrical firm Claude, a spokesman for Cle Oenerale des Constructions Telephonlques (CGCT) said. He added General Electric said its decision followed last month's French municipal
      Reuter  -  134 words
    • Article
      Lock icon Outlook at Pye Holdings
      99 5 Reuter LONDON. Wed. —Pye Holdings group outlook In the medium and longer term will be materially Influenced by the shareholders decision on proposals for group restructuring, with a view to concentrating efforts on professional electronics and specialised components, directors said. In the annual report they said
      Reuter  -  99 words
    • Article
      Lock icon TMK signs contract
      68 5 Reuter TOKYO, Wed. Toyo Menka Kalsha said It signed a six billion yen contract with Tanzania's National Textile to export a cotton spinning plant capable of turning out 6,200 tonnes of cotton yarn a year. It said the plant will be manufactured by Toyota Automatic Loom Works
      Reuter  -  68 words
    • Article
      Lock icon US mergers decline by 12pc
      121 5 Reuter CHICAGO. Wed. US merger announcements fell 12 per cent to 490 In the first quarter of 1977 compared with 557 In the same 1976 period, merger specialist W.T. Grimm said. This Is the lowest quarterly merger count In 10 years, following the previous low
      Reuter  -  121 words
    • Article
      Lock icon Increased sales forecast
      107 5 Reuter MUNICH, Wed. West German manufacturing Industry expects Its turnover to rise by a nominal nine per cent this year and at seven per cent in 1978 after 11 per cent last year, the IFO Economic Research Institute said. Domestic turnover growth in 1977 is expected to
      Reuter  -  107 words
    • Article
      Lock icon Vauxhall setback
      73 5 Reuter LONDON. Wed Vauxhall Motors suffered a pretax loss of £1.74 million (loss £1.27 million) in 1976 on sales of £513.74 million £388.84 million). The board said present indications are that UK demand for cars and commercial vehicles will be slightly higher this year than In 1976. The
      Reuter  -  73 words
    • Article
      Lock icon Gen. Foods
      46 5 Reuter LONDON, Wed. General Foods Ltd., Canadian subsidiary of General Foods Corp, is raising US$2O million through a Eurobond due 1934 with an expected 8*« per cent coupon, Wood Gundy said as lead manager. Terms are scheduled to be fixed on April 19. Reuter.
      Reuter  -  46 words
    • Article
      Lock icon Davy's success ends H. Morris battle
      550 5 FT LONDON. Wed. Davy International has stepped In with a conclusive £9.3 million takeover bid to settle finally who controls Herbert Morris, the Loughborough crane manufacturers. Having bought out the 39.2 per cent stake held by Babcock and Wilcox, whose bid was fiercely contested
      FT  -  550 words
    • Briefly
      • Article
        TSE
        77 5 TOKYO, Wed. The Tokyo Stock Exchange said the outstanding balance of buying In margin trading on the Tokyo, Osaka and Nagoya stock exchanges as of April 9 fell to 805.9 billion yen from 830.6 billion a week before. It said the decline reflected a sharp fall in share prices
        77 words
      • Article
        Bechtel
        46 5 SAN FRANCISCO. Wed. Bechtel said it was awarded contracts valued at US$4OO million from the stateowned Abu Dhabi National Oil for engineering and construction management of two natural gas processing plants In Abu Dhabi. Bechtel said Its petroleum and chemical-eastern division will manage the work.
        46 words
      • Article
        P. Sinter
        76 5 MANILA. Wed. The Philippines Sinter Corporation conducted a dry run yesterday of its new 2.6 billion pesos sinter plant In the southern province of Misamls Oriental, corporation officials said. The plant, which has been designed for eventual annual production of five million tonnes of sintered iron for steel
        76 words
      • Article
        NZ
        42 5 FRANKFURT. Wed. New Zealand is raising 200 million marks through a seven year Eurobond, probably at 6'/i per cent, lead manager Commerzbank said. Commerzbank said final conditions will probably be set on April 21. Redemption will be In one single amount.
        42 words
      • Article
        C-Wright
        57 5 WOODRIDGE, NJ, Wed. Curtlss-Wrlght said It will re-evaluate future production of a light aircraft ro-' tary engine, but plans to continue developing an advanced rotary engine for a new marine corp assault landing vehicle: The company made the statement in response to a General Motors announcement that GM will
        57 words
      • Article
        Paris
        75 5 PARIS. Wed. The Paris foreign exchange market will adopt a daily midsession currency fix from May 2 to bring it into line with most other European fixings, a Bank of France spokesman said. Currencies will be fixed one after the other, with dealers balancing supply and demand to reach
        75 words
      • Article
        NSC
        57 5 TOKYO, Wed. Nippon Steel Corp (NSC) said it hopes to determine the margin and timing of its planned domestic price rise for steel products this week. However, local press reports It has decided to increase all steel goods prices by an average of 10 per cent from deliveries In
        57 words
      • Article
        Bolivia
        23 5 PARIS.Wed. The US$l5 million per cent five year Republic of Bolivia note issue was priced at par, lead manager Arab Finance said.
        23 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      98 5 The Sharp PPC offers both Solid Black Printing on Both Sides of Ordinary Plain Paper The Sharp Plain Paper Copier gives you copy after copy, sharp and clear, with the m *->i i dense black finish of the original. No thin hh centres as you get in other copiers HH
      98 words
Page thumbnail Page 6
  • Article
    Share Information Service
    2049 6 Gr'» Grt 1977 Last div Div y'ld Nat Vat Day High Low Company Sab +or- e'w P/E Hick Low SECTION ONE INDUSTRIALS 146 136 Acma 138 12.ON 1.1 8.6 6.9 133 127 Acma A 130 +3 12.ON 1.1 9.2 6.5 3 130 128 204 204 Alcom 204
    2,049 words
  • Article
    Transactions in Singapore
    1213 6 BID and offer prices officiallylisted and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word '■Sett." Big Board deals
    1,213 words
  • Article
    In Kuala Lumpur
    695 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 Ajinemoto (2.025). A.P.I. (0 478 0.525) B Kami (1 508). XD
    695 words
  • Article
    Stock options
    133 6 STRIKING price* of the stock option* officially lifted on the Stock Exchange of Singapore, the period*, bid and offer price* and bu*ine** done yesterday, with the number of options traded shown in bracket*. D.B.S. (June $3.90) (0 09S). (Sept $3 60) (0 268 0.305). (Dec $3.60) (0.258 0.405).
    133 words
  • Article
    Unit trusts
    156 6 SINGAPORE UNIT TRUST (Managers' prices for Apr 14) INCOME BOND UNIT (Current prices) TheCommerce 1.74 1-84 The Saving Fund ...0 90 0 95xd S pore Prog Fund 0 80 0 85 S pore Security Fund 1.47 1.55 Spore Invest Fund ..1.05 1.11 INCOME BOND 104 1.10 M ARA
    156 words
  • Article
    Corporate bonds
    174 6 B O T 8 1/2% 1981 (100.000) (1038 103 3 -,S) D B S 8 1/2% 1982 (100.000) (100 «B 100 3 45) DBS Converts 6 1/2% 1991 (100.000) (97' iB 98S) E B 9% 1982 (100,000) (103*B 104 1 4S) E I B 8 1/4% 1983 (100,000)
    174 words
  • Article
    Domestic govt bonds
    101 6 1/2% 15/4/78 (250.000) (101.578 101.675) 5 1/4% 15/7/78 (250,000) (101.518 101 58S >(3)101.53 6 1/2% 15/8/78 (250,000) (103.10B) 7% 1/7/79 (250.000) (104.758) 5 1/2% 1/10/77-79 (250,000) (101 508 101.535) 6 3/4% (250.000) (103.308 2 103.25(2) 103 30 2 103 40 6 3/4% 15/6/80 (250,000) 6 -V 4%
    101 words
  • Page 6 Advertisements
Page thumbnail Page 7
  • Article
    SES rules steady
    456 7 SHARE price* took a turn for the better in rather cautious trading at the Stock Exchange of Singapore yesterday. As most of the shares had been taken down significantly in recent weeks, sellers tended to be hesitant yesterday. Observers also noted that overseas markets have recently been
    456 words
  • Article
    Trading slows down at KLSE
    362 7 TRADING in the Kuala Lumpur Stock Exchange yesterday grinded to a near standstill after only 30 minutes Into the morning session following a breakdown In the communication facilities. The breakdown affected most of the exchange's member broking firms and trading for the rest of the
    362 words
  • Article
    Lock icon Merger details settled
    236 7 FT LONDON. Wed. The final financial details of the merger between Lansing Bagnall and Henley Forklift, to form Europe's biggest Industrial truck manufacturing group, have now been settled. The remaining minority share-holding In Henley, previously In the hands of merchant bankers Hill Samuel and others, has been
    FT  -  236 words
  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1161 7 NEW YORK: The stock market ran up Its best gain for the year on Tuesday, lifting the Dow Jones Industrial Index more than 12 points In moderately active trading. There were no major new developments to account for the gain, but analysts said Investors responded to better-than-expected earnings
      1,161 words
    • Article
      Tokyo
      512 7 TOKYO: Share prices rose further on fresh buying of leading Issues In fairly active trading in line with higher Wall Street levels, dealers said on Wednesday. The Dow Jones average rose 42 60 to 5,011.60, with volume 300 million shares. The new Index closed at 373.50. up 2.23. They
      512 words
    • Article
      Hongkong
      406 7 HONOKONO: The market closed higher across-the-board In more active trading, following Wall Street's firmness and the Hongkong and Shanghai Bank'* cut In best lending rate, later followed by some other banks, dealers said on Wednesday. the Hang Seng Index rose 5.13 points to close at 435 56 points. Swire
      406 words
    • Article
      Amsterdam
      333 7 AMSTERDAM: Shares firmed in line with Wall Street dealers said on Tuesday. Hoof oven* rose 1.90 guilders despite announcing a further six-week period of short time working and after last week's publication of its 1976 figures. Other Dutch internationals also firmed. Banks and insurances rose. Most trades and industrials
      333 words
    • Article
      Zurich
      303 7 ZURICH: The market was irregular with a firmer bias with generally minor price changes apart from special situation stocks, dealers said on Tuesday Banks closed steady except for firmer Leu. Among mainly slightly higher flnanclals, Uaego bearer fell sharply. Interfood "B" and Landia rose while Maaf lost ground on
      303 words
    • Article
      Brussels
      154 7 BRUSSELS: Trading was very quiet and most Belgian shares closed lower, bourse sources said on Tuesday. Unerg and Aolvay rose but Sofina, Traction, Austurienne, St Koch. CBR and Arbed all fell. In foreign stocks, UK were mainly little changed, German. Dutch and US shares rose but French fell. Petrofina
      154 words
    • Article
      Toronto
      302 7 TORONTO: The market closed higher on Tuesday in moderate trading, with the composite index ahead four points and advances leading declines 194 to 170 Among the major price changes. Ford of Canada dropped 1-7/8 to 90-1/8 on 510 shares, General Motors rose 7/8 to 73-3/8, Chrysler gained 3/4 to
      302 words
    • Article
      Jo'burg
      371 7 JOHANNESBURG: Gold shares traded basically firmer in quiet dealings but other sectors drifted lower, dealers said on Tuesday. Financial minings were mixed with an easier bias with Mid Wiu 10 cents off at 340 and onsgold 12 cents down at 403. De Beers was unchanged at 410. Coppers were
      371 words
    • Article
      Paris
      395 7 PARIS: The market was lower on balance on Tuesday, reversing gains late last week following the government's decision to postpone Implementation of capital gains tax for shares and bonds. Some dealers said France's loan of aircraft to transport Moroccan troops to Zaire may have helped depress the market. Most
      395 words
    • Article
      Frankfurt
      297 7 FRANKFURT: The market was generally continued firmer, dealers said on Tuesday. In stronger engineerings, Linde gained 5.80 marks and Demag 3.50. In higher electrlcals. AEG rose 2.80 and Siemens 1.20 marks while In banks, Deutsche Bank rose 2.90. BMW led autos gaining 2.70. The bond market also tended firmer,
      297 words
    • Article
      Sydney
      420 7 SYDNEY: Share prices staged a moderate rally, with energy stocks particularly in demand ahead of President Carter's energy policy statement. dealers said on Wednesday. The Sydney All-Ordinaries index rose 0.87 points to close at 434.88 points. Pancontinental rose $1.35 to $11.65 and Utah 13 to 4 68 Oakbndge, Wood
      420 words
    • Article
      Milan
      152 7 MILAN: Stocks were mixed in thin dealings, with operators holding back pending new political developments In a market mainly characterised by technical factors, bourse sources said on Tuesday Generate Immobiliare, still looking for a solution to Its financial problems, firmed Fiat, Aaaicurazioni General!, Snia Viacoaa, Montedison and Pirelli SPA
      152 words
    • Article
      Manila
      173 7 MANILA: The market was dull, with minings mixed and oils lower, dealers said on Wednesday. Total turnover fell to 2.13 million pesos from Tuesday's 5 23 million. Oriental A, which gained sharply on Tuesday, slipped 0 0015 to 0.0175. Other included Baguio Gold, Philex A. Overseas and Seafront. ATLAS
      173 words
    • Article
      Indices
      60 7 FINANCIAL TIMES INDUSTRIAL Tuesday 407.9 Monday 403.0 Week ago 402.5 DOW JONES AVERAGE INDUSTRIALS Tuesday 937.16 Monday 924.10 Week ago 916.14 LONDON DOLLAR PREMIUM Tuesday 119'/i-120 Monday 115'/,-116 H.K. HANG SENG Tuesday 430.43 Monday closed Week ago closed SYDNEY INDUSTRIALS Tuesday 353.34 Monday Closed Week ago t 356.84 ALL
      60 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      367 7 .a. Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar malam! Because Penguin books are rather nrnk special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational JI ft I quite unlike the
      367 words
Page thumbnail Page 8
  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      351 8 IN the Singapore rubber market yesterday, Chinese acceptances of top and lower sheets on Monday evening and higher overseas advices caused it to open firmer, dealers said. The market gained further on increased buying interest and a reserve of sellers. Some demand for forwards, particularly
      351 words
    • Article
      Gold
      357 8 IN the Singapore gold market yesterday, the kilobar fluctuated In the range of S$ 12,040 to 5512,090. Following the announcement by the US Treasury that there would be no scheduling of gold auctions at this time, the loco London gold opened at U*****.70/ 151.20 compared with the overnight New
      357 words
    • Article
      Closing prices
      36 8 Rubber: April 13 Singapore: May 202.50 cts. (up 2.25 cts.) Malaysia: May 204.50 cts. (up 2.25 cts). Tin: $1,426.00 (up $34.00) Official offering: 190 tnnnM (iin 19 ton no a tonnes (down 32 tonnes)
      36 words
    • Article
      Straits tin
      154 8 THE Straits tin price in Penang yesterday was up 534.00 to $1,426.00 per plcul on an official offering down 32 tonnes to 190 tonnes. In LONDON yesterday morning, tin firmed by £115 for Cash and around £102 for Three Months in both contracts. Trade sources attributed the rise
      154 words
    • Article
      Palm oil
      530 8 THE following Palm Oil prices were quoted In London on Tuesday. The prices are clf Rotterdam and are quoted In US dollar per ton unless otherwise stated Tueaday Prev. Malaysia 5% ffa bulk 542 50slr Ohk JneJly Sumatra 5% 645c lr Apl 650pd May 650pd 645* It June
      530 words
    • Article
      SSR and SMR
      113 8 May June (Currcat Mlh) (foi rward Mth) R.A.S. Buyer* Selleri Buyer* Sellers (cei ■U per kg) (a •nU per k() SSR 20 (1-ton Pallet) 194 00 195 OON 195 00 19« OON SSR50 (1-ton Pallet) 102 00 193 OON 193 00 194 OON M.R.E.L.B. SMR5CV (1-ton Pallet)
      113 words
    • Article
      Produce prices
      336 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut OH: Bulk SI 10 sellers, old drum $115 sellers, new drum $120 sellers. Copra. Mixed (loose) UK/Cont. $72 buyers. Pepper: Muntok ASTA white f.o.b. 100% NLW $407 V, sellers. Sarawak white f ob 96% NLW sellers. Sarawak
      336 words
    • Article
      Duty rates
      59 8 THE Malaysian Minister of Finance has fixed these duties from April 14 until further notice; Rubber 91% cts a lb Copra $1,196.00 Palm Kernel $235.25 a ton. The rates of duties payable are: Rubber 10% cts a lb Surcharge 5*4 cts a lb (Total 16% cts a lb)
      59 words
    • Article
      Silver
      133 8 LONDON, Wed. Silver closed the morning with gains of 1.5 to two pence per troy ounce. Covering and fresh buying was touched off by strength in gold which offset the fall at New York as a market factor, dealers said. Three Months traded upto 285.7 pence before profit-taking shaded
      133 words
    • Article
      Rice
      230 8 BANGKOK, Wed. The market Is closed today in view of Songkran Day. Indicative price? quoted for rice yesterday were: US dollars per tonne fob basis Bangkok White Rice: 100 per cent Ist class 286 100 per cent 2nd 269 100 per cent 3rd 264 5 per cent 254 10
      230 words
    • Article
      Coffee
      319 8 LONDON. Wed. Robusta futures closed the opening session slightly easier in thin trading, dealers said. At end call, prices were £12 higher to £12 per tonne lower compared to last night. 228 lots were traded. July rose £12 at £4146 while untraded distant March lost £12 at £4168. The
      319 words
    • Article
      Soybean
      186 8 CHICAGO, Tues. Soybean futures finished the session with all old crop contracts up the 30 cent a bushel dally limit and new crop months up 15-1/2 to 10 cents a bushel. May closed at $10.23 1/4, July at $10.24 and August at $10.06%. All contracts posted new season highs
      186 words
    • Article
      Wheat
      135 8 CHICAGO, Tues. Wheat futures closed 2'/» to 3% cents a bushel higher, fractionally below the session highs. Wheat prices were influenced by the strong upward drive in soybean futures as advances in the bean pit stimulated speculative buying which added to the support provided by firmness in cash wheat
      135 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        556 8 THE Japanese yen fluc- tuated over a wide range In Singapore and inter- national foreign exchange markets yesterday. Opening at the yen 271.50 level against the US dollar In Singapore and Tokyo, the currency took an Immediate jump to 272.80 In Tokyo following shortcovering in that centre. Singapore dealers,
        556 words
      • Article
        Asian $ rates
        180 8 Asian rates ASIAN currency depoait interbank rates is at close on April 13 L'8 Dollar* (Spot) Offer Bid 7 days 4 7/8 4 3/4 t mth 4 3/4 4 5/8 2 mths 5 4 7/» 3 mths 5 3/16 5 1/18 6 mths 5 1/2 S 3/8 9 mths 5
        180 words
      • Article
        Discount
        50 8 RANGE of prices offered by discount houses on April 13 Overnight 1*» to 3H Call deposit 3S CImim Buy Selling 3-month Treasury bills 3 2 7/8 3-Month Bank bills 4 3 7/8 3-Month CD 4 5/18 4 3/16 «-Month CD 4 1/2 4 3/8 Source: National Discount Co. Ltd.
        50 words
      • Article
        Treasury bills tender
        40 8 w THE Monetary Authority of Singapore (MAS) invites banks and discount houses to tender for: $20 million 91-day Treasury Bills to be issued from April 18 to April 22. Each tender must not be less than $250,000.
        40 words
      • Article
        Minimum lending rates (in %)
        60 8 Minimum lending rates (in acbc First Chicago 8 l i Algemene Bank Citibank 8*4 Bangkok Bank 7 HSBC 7 Bank of America 8*4 Indosuez 8*4 Bank of China 7 Malayan Banking 8*4 Bank of Tokyo 8% Mitsui Bank 6*4 Bank Negara OCBC 8*4 Indonesia 7 OUB ft*. Chartered Bank UCB
        60 words
      • Article
        London
        251 8 LONDON, Wed. The yen retreated sharply In Japan and In early European currency trading although the move into the stronger currencies which gathered pace yesterday still left the US dollar weak In several centres, dealers said. The yen, reversing its recent strength, weakened to 272.00/20 to the dollar from
        251 words
      • Article
        New York
        153 8 NEW YORK, Tues. The dollar closed lower on balance than last night as the move Into the yen and strong European currencies continued, dealers said. The yen closed higher at 0.3692/95 cents from 0.3684/85 overnight although it eased from the opening 0.3697/3700 mainly on profit-taking, they said. Some
        153 words
      • Article
        Hongkong
        188 8 HONGKONG, Wed. The US dollar closed sharply higher at HK54.6310/30 against yesterday's 4.6220/40, but below the day's high of $4.6340/60, In active trading, dealers said. They said the US unit rose following the Hongkong and Shanghai Banking Corp's announcement of a cut in best lending rate to 4% per
        188 words
      • Article
        Tokyo
        135 8 TOKYO, Wed. The yen weakened on the local foreign exchange market In active trading, closing at 272.40 to the dollar for overnight delivery, down from 271.50 at the opening and 270.75 overnight. Dealers said the US dollar met demand In Initial trading on buying by banks to correct oversold
        135 words
      • Article
        Euro $ rates
        149 8 Euro rates LONDON K Wed. Period Eurodollar deposit rates up to six months opened generally easier reflecting the Friday dealings technicality while day to day rates were little changed from last night's final levels, dealers said. Trading was fairly light Initial falls in periods ranged from 1/8 In One Month
        149 words
      • Article
        Australia/NZ
        47 8 AUSTRALIA/NZ exchanges quoted on April 13 Australia: Sterling 0.6494/0.6423 US dlr 1.1129/1.1081 Ninety-day air mall buying rates: Sterling 0.6699 US dlrs 1.1383 Ninety-day forward buying rates: Sterling 0.6495 US dlrs 1.1015 New Zealand: Sterling 0.5717/0.5585 US dlr 0.9702/0.9602 Ninety-day forward rate: Sterling 0.5841 US dlr 0.9882
        47 words
      • Article
        Zurich
        42 8 ZURICH exchanges closing quotes on April 12 US 2.5250-5258 UK 4.3405-3435 Can 2.3970-3990 W Germ 106.19-20 Neth 101.94-102.01 France 50.82-85 Belg 6.92* 93 Denm 42.11-14 Norw 47.68-72 Swed 57.94-98 Italy 0.2846-2849 Austria 14.95-97 Port 6.52-54 Spain 3.67-1/2.68 Arg 0.70-85 Japan 0.93-1/4-3/4
        42 words
      • Article
        Frankfurt
        33 8 FRANKFURT exchanges opening quotes on April 13. US 2.3760/70 2.3777/80) Can 2.2620/40 UK 4.081/088 Neth 95.94/96.04 Swltz 94.22/32 Italy 2.672/680 France 47.80/90 Norw 44.95/45.03 Belg com 6.525/530 Belg fin 6.52/53 Japan 0.8740/60
        33 words
      • Article
        Eurobond prices
        321 8 LONDON, Wed. Straight bonds generally hardened about 1/8 point in active dealing, dealers said. Convertible issues were quiet, but firmed up to one point in places following the rise on Wall Street and In Tokyo yesterday, dealers said. LONDON Eurobond prices on April 13. STRAIGHTS BID OFFER Austria
        321 words
    • Article
      Sugar
      248 8 LONDON, Wed. Terminal opened quietly steady with prices £0.50 to £0.20 per tonne below vesterdav's 1700 hours levels and sales totalled 517 lots. Dealers said yesterday's raw sugar sales tfy Peru and the Dominican Republic made little direct Impact on the terminal although the price paid for the latter
      248 words
    • Article
      Copper
      218 8 LONDON, Wed. Copper wlrebars finished the morning with gains of mostly £2.50. Dealers said early premarket softness reflected the trend at New York, although lower traded levels soon picked up on covering and some fresh buying. This was prompted by strength in gold and chart considerations. Three Months eased
      218 words
    • Article
      Lead
      98 8 LONDON, Wed. Lead closed unchanged for Cash and £0.75 lower for Three Months in the morning. Values recouped yesterday's late Kerb losses on trade buying which appeared to be mostly pricing against recent physical business, dealers said. The recovery reflected the strength in gold and the tightening supply position
      98 words
    • Article
      Zinc
      47 8 LONDON, Wed. Zinc softened by mostly £0.50 In the morning, but recovered from yesterday's late Kerb lossess in sympathy with the general trend. Three Months rallied from £392 on the premarket up to £397.50 In the Ring before profit-taking shaded values. Sales were only 700 tonnes.
      47 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      478 8 THESE ARE THE BOOKS THAT HITLER BURNED V m ipii "II r: p w _d t— i U»V*> L. i 5 ■1 -A sflpltllfi* «3 is S «Ss I--- CL2 s w >L"LI >i p.-: sIiSJL*. f fit §h i "'So/, 35. -as «s *4 m ik f 'C% THE
      478 words
Page thumbnail Page 9
  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon Changing of the guard at CBS
      1197 9 BACKE TIPPED TO SUCCEED PALEY NEW YORK, Wednesday NYT ALMOST from the time television became a business, the superlatives have collected around CBS richest of the networks, classiest, most glamorous, most popular, most powerful, most uptight. All these attributes reflect the leadership of William
      NYT  -  1,197 words
    • Article, Illustration
      IN PORT
      476 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Altalr (0600 after Iwate Maru) 3/4 Bunga Angsana (after Oriented Crown) (Class I on board) 33/34 Cherry Vilja (B. Barge) (1200 tbc) 37/38 King sun (0600 after Temburong) 22 SBSIIKB Barge) (after Cherrv Vilja sails) 37/38 Vlieland (Tanker) (0300 after Felix Dzerjinskly) 42/43
      476 words
    • Article
      Lock icon Germany plans new TVphone service
      153 9 Reuter BONN, Wed. The West German Post Ministry- is planning a new telephonetelevision service enabling the public to receive printed messages on their TV screens. The Post Ministry' »*id the system, which will carry various types of communications including news bulletins, stock exchange prices and
      Reuter  -  153 words
    • Article
      Lock icon Oil sucking ships
      93 9 Reuter DONETSK, csoviet Union), Wed. Special ships being built at this Ukrainian city will sail the high seas sucking up oil spills, according to Tass news agency. Previously, oil catching craft had been used mainly in harbours, Tass said, but the new craft (tonnage was not given)
      Reuter  -  93 words
    • Article
      Lock icon London freight market
      233 9 AP LONDON, Wed. North and South American grain fixing produced an impressive list of fixtures over the long holiday weekend but other sectors of the market failed to generate interest yesterday, although the overall rate tone demonstrated little real change. Dreyfus flxted the Mlkunlsan Maru from Port
      AP  -  233 words
    • Article, Illustration
      SATS' biggest cargo shipment
      188 9 SINGAPORE Airport Terminal Services (SATS) handled its biggest ever cargo shipment on a scheduled passenger aircraft when Lufthansa's Boeing 7475 L touched down last week. As well as its full complement of 249 passengers, the 7475 L carried a total of 17 tonnes of machine parts
      188 words
    • Article
      Lock icon New container service
      66 9 Reuter WELLINGTON, Wed. A container service between Europe and New Zealand will start next month with 12 ships operated Jointly by the British Shipping Line. Overseas Containers Limited, and four continental lines, Compagnle Generale Maritime, HapagLloyd, Konlnklljke Nedlloyd, Lloyd Trlstlng dl Navlgazlone SPA, the lines said in
      Reuter  -  66 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      586 9 ARRIVALS Service Operator Number Local Time From CPA MAS CPA CX003 MH682 CX710 0145 0810 1000 HKG KCH HLP SIA GIA GIA SQ21I GA980 GA908 1015 1030 1100 HLP HLP MES PAL SIA RBA SIA PR501 SQ240 BI325 SQ201 1115 1140 1155 1200 MNL MES BWN HLP
      586 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      94 9 A wealth of answers to scientific phenomena LIFE SCIENCE LIBRARY A thousand questions you've asked but never had answers to. Now to be found in these fantastic volumes from Life Science Library. Vast information on every conceivable branch of science. The power of pure energy molecular theory mathematics the human
      94 words
Page thumbnail Page 10
  • Article
    Lock icon Japanese plan for a better life...
    866 10  -  INFLATION AND THE CONSUMER JAPAN is embarking on a five-year plan but unlike most of these, the plan will be aiming not so much at pushing ahead with economic growth, but at improving the quality of life for the Japanese. -in TOKYO -By RONALD
    FT  -  866 words
  • Article, Illustration
    CONSERVING ENERGY RESOURCES...
    1423 10  -  There is much excitement over the emergence of oil as a top money spinner for Malaysia. But the grim fact is that it is an exhaustible energy source and needs long term planning. By A. KADIR JASIN EXCITEMENT over the emergence of oil as the fastest growing
    1,423 words
  • Article
    Lock icon Failure at SALT talks causes setback in US-Soviet ties
    1394 10  -  By ROY GUTMAN Reuter UNITED States Secretary of State Cyrus Vance's failure to make progress on strategic arms reductions In Moscow has left Sovlet-Amerl-can relations In a difficult state, but by no means beyond repair. That Is the consensus emerging so
    Reuter  -  1,394 words
  • Article
    Pertamina's woes
    89 10  -  LETTER TO THE EDITOR Hsuan Owyang Director and General Manager, Overaeaa Union Bank, Singapore. IN THE article "Pertamlna's woes threaten to drag more Into the web" (Business Times, April 11), It was mentioned In the fourth last paragraph that the Overseas Union Bank of Hongkong was one of
    89 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      359 10 ft SINGAPORE for people who matter Change is the essence of a fast-moving, dynamic society like Singapore's and it takes quite some doing to keep up with the pace. Singapore Trade and Industry monthly economic review has now changed its name to Singapore Business. You bought Singapore Trade and Industry
      359 words
Page thumbnail Page 11
  • Article
    Lock icon Timor War: 'Indonesia should have stepped in earlier'
    603 11 Reuter JAKARTA, Wed. A local newspaper today said a US Congressman had suggested that Indonesia should have intervened much earlier than it actually did in the civil war that ravaged the former Portuguese colony of East Timor two years ago. Representative William
    Reuter  -  603 words
  • Article
    Lock icon Fishery expert leaves for Moscow talks
    543 11 Reuter TOKYO. Wed. Mr. Iwao Arakatsu. Japan's chief negotiator in deadlocked japan-Soviet fishery talks on catch quotas, left here today for Moscow to resume the discussions there. His departure followed instructions from Agrlcul-ture-Forestry Minister Mr. Zenko Suzuki, who is now in Moscow for separate
    Reuter  -  543 words
  • Article
    Lock icon SEOUL HOPEFUL OF HITTING EXPORT TARGET
    721 11 Reuter SEOUL, Wed. South Korea Is confident It can boost 1977 exports to at least US$lO billion (Ss24 billion) from $7.80 billion last year, according to Mr. Park Pllsoo, assistant Minister for Trade and Commerce at the Ministry of Commerce and Industry (MCI). In
    Reuter  -  721 words
  • Article
    Lock icon 'S. Korean economic aims ambitious...'
    321 11 Reuter SEOUL, Wed. The targets in South Korea's five-year economic plan are ambitious but attainable despite World Bank reservations, according to Mr. Kim Jae-ik, director of one of the Korean Economic Planning Board's departments. The plan, covering *****1, calls for export-led real Gross National Product
    Reuter  -  321 words
  • Article
    ITB survey on manpower needs in electronics
    304 11 A SURVEY to identify current and" future manpower requirements of the electronics Industry in Singapore has been launched by the Industrial Training Board in consultation with the Association of Electronic Industries in Singapore and the Singapore Manufacturers Association. Besides data on the types
    304 words
  • Article
    Board had $19m in training subsidy
    111 11 THE Government contributed nearly $19 million to industrial training by the Industrial Training Board In the fiscal year 1975-76. According to the ITB accounts, which were presented to Parliament earlier this month, Government subsidies to ITB's expenditure, totalling $18.5 million, came to $15.8 million.
    111 words
  • Article
    Lock icon Press strike hits trade
    79 11 AP COPENHAGEN Wed. After nearly two weeks, a nation-wide newspaper strike was beginning to affect the economic life In Denmark, and the publicly run Radio Denmark came under mounting pressure to expand its radio and televlsion newscasts to fill what was seen as a serious information
    AP  -  79 words
  • Article, Illustration
    Lock icon Repercussions of Indira's defeat are wide-ranging
    729 11 NYT PARIS, Wed. The international implications of India's recent change of Government could conceivably be almost endless. Mrs. Gandhi's Congress Party dictatorship was ousted the moment she opened the door to democracy. The subsequent Desal regime has made it plain that foreign policy will
    NYT  -  729 words
  • Article
    Lock icon Dell: EEC never too busy to help
    138 11 AP SUVA, (Fiji), Wed. British chairman of the European Economic Community's Council of Ministers, Edmund Dell, flatly refuted the contention earlier this week by 52 African, Caribbean and Pacific states (ACP) that the EEC was too preoccupied with its own economic problems to
    AP  -  138 words
  • Article
    Lock icon Wheat meet
    26 11 AP OTTAWA, Wed. A meeting of officials representing the world's major wheat exporting countries scheduled today has been postponed until later this month. AP.
    AP  -  26 words
  • Article, Illustration
    Lock icon Reshuffle of top Manila envoys in the offing?
    268 11 Reuter MANILA, Wed. A big reshuffle of Philippines top diplomats abroad, including the United Nations, Peking, Washington and Moscow, is forecast today by newspaper columnist Mr. Jesus Blgornla. He says President Marcos Is about to move Ambassador Benjamin Romualdez, younger brother of
    Reuter  -  268 words
  • Article
    Lock icon Japanese sugar workers to strike
    129 11 Reuter TOKYO, Wed. The 4,000strong All Japan Congress of Sugar Refining Workers Unions said today they plan to stage a 48-hour strike from next Monday to press for a cutback in import prices of Australian sugar. A congress spokesman said they ascribed the present business
    Reuter  -  129 words
  • Article
    Bogged down? Let word processing do the job
    409 11 WORD processing Is the key to a "paperless society." In a bureaucratic world where the tremendous amount of paperwork Involved Is often 1 a handicap, advanced business machines are the 1 viable solution to this excess paperwork problem. Government bodies, especially, are
    409 words
  • Article
    Lock icon Australian payments in deficit
    319 11 Reuter CANBERRA, Wed. Australia's balance of payments as measured by net official monetary movements moved Into a US$l5B million (***** million) deficit in March from a US$39 million (5593.6 million) surplus in February, the Statistics Bureau reported. This compared with a US$llO million deficit in March
    Reuter  -  319 words
  • Article
    Sawmillers hail lifting of log export ban
    299 11 LOCAL sawmillers and plywood manufacturers yesterday welcomed Malaysia's decision to ease restrictions on the export of logs imposed in January. The move is expected to bring some relief to the cost-burdened wood-based industry. They said the decision will ensure greater supply of lower
    299 words
  • Article
    Lock icon Thai textile crisis
    85 11 Reuter BANGKOK, Wed. The Thai synthetic textile Industry will face a crisis in 1977, with total capacity of between 100,000 and 106,000 tonnes exceeding domestic demand of about 50,000 tonnes, the Board of Trade said. The board's weekly bulletin said there was a glut of man-made fibres
    Reuter  -  85 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      453 11 APPOINTMENTS INTERNATIONAL Manufacturing Company located in Jurong invites qualified applicants to fill the position of: ACCOUNTANT This is a Management appointment and the successful applicant will report directly to the Controller. Ap plicants should be graduated in Ac countancy or other related profes sional qualifications, with at least two years
      453 words
Page thumbnail Page 12
  • Article
    FREIGHT COST LOOKED INTO
    443 12 A TEAM from the British Transport Docks Board Is In Singapore and Malaysia to discuss with shippers and shipping lines on how to reduce freight costs in British South-east Asian trade. Led by Mr. Keith Stuart, director and general manager of the board, the team comprises
    443 words
  • Article
    Lock icon Fraser's move to freeze wages, prices
    304 12 Reuter CANBERRA, Wed. Australian Prime Minister Malcolm Fraser announced here today that unions and employers were to be asked to voluntarily freeze wages and prices for three months. Mr Fraser made the announcement after a meeting here at which Australia's six state premiers agreed
    Reuter  -  304 words
  • Article
    PSA planning more facilities for a bigger trade role
    974 12 WITH a buoyant 1978 under its belt, the Port of Singapore Authority Is to expand its facilities further to enlarge Its role In the promotion of lntra-reglonal trade. Operating revenue for the PSA grew by 39 per cent from $213.64 million
    974 words
  • Article
    Hussein to add another four to Cabinet
    232 12 KUALA LUMPUR, Wed. Prime Minister Datuk Hussein Onn ia expected to make a minor Cabinet reshuffle very soon with the appointment of at least four new deputy ministers. l nere might also be some minor shifts of portfolios among a few ministers but
    232 words
  • Article
    Four strategies on cooperation
    292 12 KUALA LUMPUR. Wed. The two-day symposium on Asean cooperation in Industrial projects which ended here on Sunday put forward four alternative strategies to fully exploit the existing potential for greater cooperation In the region. The strategies are: Integrated development strategies for the Asean integrated development strategies
    292 words
  • Article
    'Changes in trade policies needed'
    324 12 KUALA LUMPUR. Wed. Significant changes must be made In the trade policies of Asean countries for regional cooperation to be meaningful, It was stated here yesterday. This is not only to extend the advantage of a bigger regional market for existing industries but also to
    324 words
  • Article
    Bank sues
    29 12 MOSCOW Narodny Bank yesterday filed a writ with the High Court, suing David Phoa and Sons for $47,973.04, allegedly being money due and owing to the plaintiff.
    29 words
  • Article
    LONDON STOCKS
    791 12 LONDON. Wed Equities advanced further, helped by Wall Street's 13-polnt gain, but thin conditions accentuated price movements, dealers Said. Trading Interest was Inhibited with the commencement of Government-Trades Union Congress pay talks, they added At 3.00 pm the Financial Times index was up 10.5 at 418.4 Short-dated government
    791 words
  • Article
    Lock icon We'll view Asean invite with interest
    332 12 Reuter MANILA, Wed. Australia would view an Invitation from Asean to meet its leaders after their summit later this year with great Interest, Its Foreign Affairs Minister Andrew Peacock said here today. He was speaking soon after arriving here at the start of a
    Reuter  -  332 words
  • Article
    DEVAN URGES 120 AT METAL BOX TO JOIN PIEU
    414 12 THE 120 workers who resigned from the Metal Box Workers Union were yesterday advised by Mr. Devan Nalr, secretary general of the National Trade Union Congress, to join the Pioneer Industries Employees Union and to claim official recognition from the management
    414 words
  • Article
    NWC invites views from the public
    111 12 THE National Wages Council has Invited views from interested parties on guidelines for wage Increases this year. Views are sought from those who are not members or affiliates of the Singapore Employers' Federation, the National Employers' Council, the Singapore Manufacturers Association and the National
    111 words
  • Article
    Timur delivers a surprise
    223 12 AN almost unknown Singapore company has commissioned Japan's Hitachi Shipbuilding and Engineering to build four container vessels of 12,100 dwt each. It was reported yesterday that the Japanese yard has signed a contract with Tlmur Carriers of Singapore, a subsidiary of Thomas Nationwide Transport of Australia,
    223 words
  • Article
    Lock icon No decision yet on bond offer
    168 12 Reuter SYDNEY, Wed. The Australian Government has yet to decide whether It will participate in the UK's foreign currency bond offering. senior Treasury officials told Reuters by telephone from Canberra. Due to the rundown In Australia's sterling holdings In recent years, the question is
    Reuter  -  168 words
  • Article
    Undercutting of air fare still going on
    179 12 AIR fare undercutting Is still prevalent along orient routes. This is despite the action by eight major Asian airlines to establish a new price pact to eradicate excessive air ticket discounts from April 1. According to sources, this is because, several other Asian
    179 words
  • Article
    Lock icon ADB EARMARKS $14bil FOR NEXT 5 YEARS
    475 12 AP MANILA, Wed. The Asian Development Bank (ADB) has alloted US$5.7 billion (SSI4 billion) for loans for the five-year period ending 1981. If this target is achieved, the announcement released today said, its lending to 23 developing ADB member countries in Asia and
    AP  -  475 words
  • Article
    Detainees freed
    133 12 THE Home Affairs Ministry yesterday announced the release of 10 detainees, two of whom will be deprived of their citizenships. They are Journalist Arun Senkuttuvan, lawyer R. Joethy, Singapore Airlines executive Koh Kay Yew, insurance broker Michael Fernandez, company secretary Ong Bock Chuan, marketing engineer Mok Kwong Yue,
    133 words
  • Page 12 Advertisements
    • Advertisement
      Page 12 Advertisements Column 1
      286 12 TELEMASTER 548 a communication masterpiece that makes you master of your phone Just touch a key and you're automatically linked to your business contact. No more irritations like number hunting, multiple-digit dialling, or wrong number. No more waiting to be put through. The Telemaster is an electronic marvel of German
      286 words