The Business Times, 3 August 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 WEDNESDAY, AUGUST 3, 1577 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon EEC jobless up
      65 1 AFP BRUSBELS, Tues. Unemployed In the European Economic Community (EEC) rose by about 80,000 In June to reach approximately 5,300,000, the EEC Statistics Office said, today. The increase was due to higher unemployment In Britain and the Netherlands. Elsewhere the Jobless figure dropped, the statistics office said.
      AFP  -  65 words
    • Article
      Lock icon In the black
      60 1 UPI ROME, Tues. Italy's commercial trade balance was 84 billion lire (***** million) In the black for the month of June, the government announced today. It was the first surplus In 11 months. Figures released by the government statistical institute showed total exports In June of 3.613
      UPI  -  60 words
    • Article
      Lock icon $41m cultural grant
      53 1 AFP TOKYO, Tues. Japan will offer a 5,000 million yen (5541.3 million) grant to Asean to help establish a cultural exchange fund, Informed sources said today. Prime Minister Takeo Fukuda Is expected to convey the decision to Asean leaders when he meets them on Aug 7 in
      AFP  -  53 words
    • Article
      Lock icon More in than out
      67 1 Reuter LONDON, Tues. Fewer Britons travelled abroad last year than in the previous year, while tourists arriving in Britain In 1076 Increased 14 per cent over 1975, the British Tourist Authority announced today. British travellers abroad in 1976 were estimated at 11,134,000 compared with 11,607,000 in
      Reuter  -  67 words
    • Article
      Lock icon Minister sacked
      47 1 UPI LUSAKA, Tues. Zamblan President Kenneth Kaunda today sacked Home Affairs Minister Aaron Milner and ordered an Investigation to be started into unspecified charges against Mr. Milner. Mr. Kaunda said he had received numerous "reports" about the minister which he could no longer Ignore. UPI
      UPI  -  47 words
    • Article
      Lock icon Lanka govt probe
      72 1 Reuter COLOMBO, Tues. Sri Lanka's Minister of Shipping Aviation and Tourism, Mrs. Vlmala Kannangara, has ordered a fun investigation into the purchase of nine ships by the state-run shipping corporation during the term of defeated Prime Minister Mrs. Slrima Bandaranalke's Government, usually reliable sources «ald today. The
      Reuter  -  72 words
    • Article
      Lock icon Dow Jones
      66 1 UPI NEW YORK, Tues. Stocks headed lower early today In moderate trading amid Investor concern the Federal Reserve Board was tightening credit. As a result, the Dow Jones Industrial average, which managed to gain 1.74 points yesterday was off 2.60 points to 889.12 shortly before the first hour
      UPI  -  66 words
  • Chief price change
    • Article, Illustration
      In Singapore yesterday
      173 1 CENTRAL Sugars hit a new high again in generally steady trading on the Stock Exchange of Singapore yesterday. Freeh bullish support took the snare to 13.92 while moderate gains were recorded by other shares, particularly in the industrial sector. The Business Times index closed 5.19 points higher
      173 words
    • Article
      In Kuala Lumpur
      98 1 Rises Most active Kramat S.90 4.96 1.70 +.90 +J6 +.19 +.11 +.10 +.06 +.06 +.68 +.0T -.10 -.10 -.08 -.66 Olympla 968,000 Petaltaf Olvmnla JLO-MP.H. Duff Dev. 919,860 966,660 nam Sim Llm 227.000 Sc. Bad 2.56 M. ltte* 1.42 II. Hour 3.08 A. Amal 4.94 Tlmuran 1.97
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  • Article
    Exports soar in first half-year
    914 1  -  TRADE BALANCE IMPROVES JOHN TAN SINGAPORE'! exports to the United States recorded a massive 34 per cent Jump in the first slz months. This boosted total trade with the US to $3.04 billion, making It Singapore's largest trading partner. The export Jump nas also given
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  • Article
    Manila study delayed
    121 1 THE PMUpetoe ■wrutiiu tor Industry, Kir Vlncente Paterno, said that his country would be unlikely to complete its feasibility study on the phosphate fertiliser plant by August and its report would be submitted In September or October. In an Interview at Subang Airport he said when the
    121 words
  • Article
    Hon on viability of diesel project
    432 1 ASEAN REPORTS FROM KUALA LUMPUR SINGAPORE'S diesel engine project will not be viable if It is limited to producing engines over 900 horsepower. The Finance Minister, Mr. Hon Bul Sen said this, when he arrived at Subang airport yesterday evening to attend the Asean
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  • Article
    Ironing out details of commodity fund
    317 1 ONE of the tasks of the Asean economic ministers meeting today will be to thrash out details of the Stabex Fund the commodity export earnings stabilisation fund proposed by Asean for support by Japan. This was revealed by Mr. Troadio Qulaaon, the Philippines Trade
    317 words
  • Article
    Agenda for economic ministers is approved
    249 1 THX senior sconomic officials of Aaau have apthe agenda for the economic ministers meeting that begins today. Conference sources said the they adopted the economic paragraphs to be put into the final communique at the end of the heads of government summit and alao
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  • Article
    Singapore will be key centre for syndicated loans
    282 1 A TOP Gnu banksr, Dr. Haas Llass, yesterday predicted that Slagapere can blossom late a key syndtontisu eontie In Asiu If banks hsre take active steps in the light direction. Ha said: 'To become a major syndication centre, banks in Singapore have
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  • Article
    BoA plans to buy out four from Aseambank
    666 1 BANK of America is currently re-organlslng Its Asian loan operations and Intends to e all c f the shares In a hongkcng merchant bank as well as cut down on the number of partners It has In Singapore. BoA which Is one
    666 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      66 1 With a Reputation for Uhrivaded Security and Fair Dealing over 131 Our Clients can be Royal Insurance looks after you. Fast 18th Fir., Ocean Building, Collyer Quay, Singapore 1. Tel: ***** *****1. Ortrmi Ntwi/TV Oversees Steeks P7 Radio rwilrtw -Ft OiKiiii NeWFeetwe- PI Traaspert ft CoauaeLeeel Co News P4 air.ri—
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    • Advertisement
      Page 1 Advertisements Column 2
      139 1 Live an extra month this year If you're a top executive working in the city, living in one of our luxurious Hong Leong apartments saves you an hour a day in travelling, traffic jam and parking hassles. That adds up to a working month a year. The best part is
      139 words
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      3 1 SEE BACK PAGE
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    • Advertisement
      Page 1 Advertisements Column 4
      250 1 Gas has got a j flame new EHDEI The Lexikon 90 combines the advantages of the golf ball and the ordinary typewriter. Lexikon 90 offers you the bestof the golfball and fixed typing point machines The new Olivetti Lexikon 90 is the first electric typewriter that combines all the advantages
      250 words
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  • OVERSEAS
    • Article
      Lock icon Steelworkers' strike shuts iron ore mines
      667 2 UPI NYT NEW YORK, Tues.. The first major strike In the steel Industry in 18 years closed Iron ore mines and processing plants yesterday across northern Minnesota and Michigan, the heart of the ore country. Some 16,000 to 17,000 workers were Idled In the
      UPI; NYT  -  667 words
    • Article
      Lock icon Carter promises fair proposals on Panama issue
      307 2 AP WASHINGTON, Tues. President Carter says that he will not meet Panamanian demands In the Panama canal negotiations, but promises "generous, fair and appropriate" proposals. In a letter to Panama's Head of State, Brigadier General Omar Torrljos, Mr. Carter coupled his warning with
      AP  -  307 words
    • Article
      Lock icon Muldoon's US tour
      55 2 AP WELLINGTON, Tues. Prime Minister Robert Muldoon said today he will hold his first talks with US President Carter in Washington on Nov. 22-23. Mr. Muldoon told a press conference that other dates for his US, tour have not been settled, but he would address businessmen In
      AP  -  55 words
    • Article
      Lock icon British unions' wage claims exceed 10pc
      302 2 Reuter LONDON, Taw. Trade uaioas Used up today with mold tuvierrestrain t trT«M. N Britiaa's biggest —i— the Transport aad Ganerai Workers (TGWU), has ledgod two St Mr eoat claims on behalf of Shell OH rafiaery werkeri aad ■emhsrs at Feed's motor plants. Chanceller
      Reuter  -  302 words
    • Article
      Lock icon Raw sugar up by $17 a tonne
      480 2 AFP LONDON, Tues. .The price of raw sugar rose by £4 (8117) a tonne from £109 to /U3 here yesterday following last Friday's announcement of new trade talks In Geneva on Sept. 12. The conference will try to negotiate a new international sugar
      AFP  -  480 words
    • Article
      Lock icon Bonn chemicals doing badly
      180 2 Reuter FRANKFURT, Tues. German chemical Industry turnover and production has been disappointing so far this year after the good performance In 1976, the German Chemical Industry Association said in its annual report. Industry turnover rose only around two per cent In the first half while production
      Reuter  -  180 words
    • Article
      Lock icon Contracts to cities
      166 2 NYT WASHINGTON, Tuea. An obscure provision of a bill passed by Congress last week could steer more government contracts to cities that are officially designated as laboursurplus areas. It has been government policy since 1952 to direct Federal procurement to economically distressed areas. But, In fact, less
      NYT  -  166 words
    • Article
      Lock icon CAB 'no' to Israeli charter flights
      132 2 AFP WASHINGTON, Tues. The Civil Aeronautics Board (CAB) announced yesterday it had turned down a request from Israel's El Al Airline to run charter flights from Israeli -occupied Jordan to three American cities. The proposed Israeli terminal was an airport at Atarot, near Jerusalem,
      AFP  -  132 words
    • Article
      Lock icon $4b BOOST FOR N. IRELAND
      418 2 AP LONDON, Tues. The British Government has announced a £950 million (554.04 billion) plan to boost Northern Ireland's battered economy and ease tension In the troubled province. But Northern Ireland Secretary Roy Mason warned when he unveiled the package yesterday that It contained no miracle
      AP  -  418 words
    • Article
      Lock icon Mixed views on spray can gas
      220 2 AP WASHINGTON, Tim*. A scientist for an environmental group said yesterday the government should quickly ban fluorocarbon gas from spray cans, but chemical industry spokesmen said a decision should be delayed pending more definite scientific evidence. The opposing arguments focussed on proposals by the
      AP  -  220 words
    • Article
      Lock icon Couple went on a spree after windfall
      296 2 UPI PITTSBURGH, Tnos. Melton Bank itU yesterday it "mistakenly rmltUd" US$l million (812.44 million) instead of $1,000 to Filipino couple two month* ago u result of clerical error and the couple claimed they spent all but $13,000 of the windfeU. Bank officials aaid
      UPI  -  296 words
    • Article
      Lock icon Step-up in VIP protection
      181 2 NYT BONN,Tues. Protection for West Germans prominent in politics, the Judiciary and business was quietly reinforced yesterday following the killing last Saturday of Jurgen Ponto, an influential banker, by two women and a man in Ponto's home near Frankfurt. However, Armln Orunewald, a senior government spokesman,
      NYT  -  181 words
    • Article
      Lock icon Bribe query: House members reply
      163 2 AFP WASHINGTON, Tues. All but 11 of the 434 members of the US House of Representatives have answered questionnaires asking If they were offered or accepted cash or gifts from South Koreans. The House committee on ethics disclosed last night that Its questionnaire had also
      AFP  -  163 words
    • Article
      Lock icon No word from Iran
      100 2 AFP WASHINGTON, Tues. The United States has received no official notification by Iran cancelling the planned purchase of the Electronic Airborne Warning and Control System (AWACS), the State Department said yesterday. The Iranian press had earlier printed reports that Iranian officials were planning to reconsider their
      AFP  -  100 words
    • Article
      Lock icon Budding scandal that can't be, covered up
      357 3 UPI WASHINGTON, Tuei. Three Republican leaders ■aid yesterday President Carter's support of oil cargo Eerence legislation is "a ant political payoff" and called for a Congressional Investigation Into what they called "a budding scandal." Republican national chairman Mr. BUI Brock, Senate Republican Leader
      UPI  -  357 words
    • Article
      Lock icon Alaskan oil sets sail
      60 3 Reuter VALDEZ (Alaska), Tues. The first tanker loaded with oil from the 1,280: km trans-Alaska pipeline left here last night. Loaded with 830,000 barrels of oil, the 120,000tonne, Arco Juneau left for Cherry Point, Washington on a voyage expected to last 3* days. The pipeline, opened
      Reuter  -  60 words
    • Article
      Lock icon Falling dollar may be topic at Opec meet
      527 3 Reuter AP VIENNA, Tues. Finance ministers of the Organisation of Petroleum Exporting Countries (Opec) open a two-day meeting here on Thursday amid speculation they will discuss the recent drop of the US dollar. The cartel prices Its oil In dollars. The meeting
      Reuter; AP  -  527 words
    • Article
      Lock icon Charged with taking $72,000 in payoffs
      207 3 Reuter WASHINGTON, Tues. A former US Congressman was charged by a Federal grand Jury yesterday with accepting U8530,000 (8172,000) In payoffs from two U8 shipping lines In return for supporting legislation which enabled the sale of three Inactive ships. A grand Jury Indictment, returned
      Reuter  -  207 words
    • Article
      Lock icon More criticisms of Carter's energy policy
      596 3 AP Reuter NEW YORK, Tues. Two 1 Independent US energy analysts yesterday Joined critics in attacking President Carter's energy programme and predicted it will not bring about reduced oil import levels for the United Btates. "The Administration's energy policy is something less than 't'he
      AP; Reuter  -  596 words
    • Article
      Lock icon Higher yields
      81 3 Reuter WASHINGTON, Tues. Average effective yields rose to 5.424 per cent for threemonth bills and 5.091 per cent for six-month bills at the latest weekly auction, the Treasury Department announced. The three-month yield compared to 5.103 per cent a week earlier and was the highest yield since the
      Reuter  -  81 words
    • Article, Illustration
      Lock icon A TREASURE TROVE OF MINERALS IN BOLIVIA
      831 3 British scientists are helping Bolivia open up a vast and neglected region. Its riches could transform the economy of the country. FT LA PAZ: It seems almost Incredible that 220,000 square kilometres of the modern world should remain geologically unmapped today. This Is
      FT  -  831 words
    • Article
      Lock icon A sevenyear grace to repay Witteveen loans
      237 3 Reuter WASHINGTON, Tuee. The world's ■■iflisl nations will kav« up to •even years to repay loans under new facilities being arranged by the International Monetary Fund, informed monetary sources said here yesterday. Leans from a new fand, called the Witteveen facility after IMF
      Reuter  -  237 words
    • Article
      Lock icon DEARER VOLKS
      71 3 AP > X t*l*i DETROIT, Tues. Volkswagen of America la boosting prices at least 3.7 per cent on some 1977model VW, Porsche and Audi models to offset declining exchange rates, the firm announced. The price hikes are In line with «mllar small-car Increases announced earlier this week by
      AP  -  71 words
    • Article
      Lock icon Legal limit on federal debt is increased
      364 3 Washington Star WASHINGTON, TUSS. A bill to raise the legal limit on the Federal debt from U***** billion (891,701 billion) to 1779 billion was approved by the House ways and means committee yesterday. The Carter Administration had requested an increase to 1793 billion,
      Washington Star  -  364 words
    • Article
      Lock icon Conferees approve $264b defence bill
      244 3 AP WABHINOTON, Tues. House-Senate conferees approved a US$lOB billion (***** billion) defence bill yesterday and forced a new House vote on President Carter's decision to kill the Bl strategic bomber. Leaders said they believe the House will reverse its earlier approval of 91.5 billion for
      AP  -  244 words
    • Article
      Lock icon Building slowdown
      130 3 Reuter WASHINGTON, Tues. US construction spending rose by UBMOO million (0.4 per cent), in value to a seasonally-adjusted annual rate of Sl7l billion, the Commerce Department said. After adjustment for Inflation, the volume of construction put In place during June fell 0.3 per cent, the first drop since
      Reuter  -  130 words
    • Article
      Lock icon Close watch on mushrooms
      227 3 AP WASHINGTON, Tues. Questioning how 1.3 million kilos of mushrooms from Korea could be lost, a chairman of a congressional subcommittee has warned that henceforth the subcommittee Intends to monitor mushroom imports very closely. Representative Charles Vanlk, chairman of the House Ways and Means Trade Subcommittee,
      AP  -  227 words
    • Article
      Lock icon Union chief denies deal with Nixon
      295 3 AP WASHINGTON, Tues. President Frank Fitssimmons of the Teamsters Union angrily denied yesterday that he ever "paid one cent to the Nixon Administration" as part of a deal to keep rival labour leader Jimmy Hoffa from returning to union office. Mr. Fltsslmmons challenged Attorney
      AP  -  295 words
    • Article
      Lock icon Trade show by China
      65 3 AFP NAIROBI, Tues. A twoweek economic and trade exhibition staged by China opened yesterday in Nairobi City Hall at a ceremony attended by diplomats and Kenyan government officials. Exhibition organiser Liu Shao-Shan said the protect was designed to strengthen friendly relations and promote better understanding between
      AFP  -  65 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      272 2 t\*s otA? J ITY IS Within a short period of six years, The Open University, a unique experiment in higher education, has become an established part of the educational scene. It is now recognised all over the world as one of the most important educational and social developments of this
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      338 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 2 at Singapore airport. Maximum Temperature 31.8° C Associated Humidity 66 Minimum Temperature 24.6° C Associated Humidity 93 Hours of Sunshine 9.55 Rainfall in Millimetres Nil Total Rainfall for the Month Nil Total Rainy Days for the
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      192 3 The Captain requests the pleasure of your company Dry Dock Martini or an effervescent Surf Rider. Since 1819, Singapore has been a port of call for ships of every nation on earth, "free of duties equally and alike to alT\ Today it is the fourth largest harbour in the world.
      192 words
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  • COMPANY NEWS
    • Article
      Intraco hit by profit setback
      689 4 INTRACO suffered a severe setback of about 31 pei cent in earnings at both the group and company levels In the first half of this year compared with the first six months of 1976. Oroup pre-tax profit fell to $1.58 million In the halfyear ended
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    • Latest results
    • Article
      DIVIDENDS ANNOUNCED
      182 4 1 wI nrMu tx Orntm Dal* W«W* Total fat tkl)w Teu*J far •mm n»i Ijowwt Pmk 15% July 1 AugS 30% 30% Ortmul HvHiMi V* July XI Aug 10 19% !S% B SttaUwaag Ri«tnm K«bt»r 20* *%l July 20 July« Auf IS Aug IS 20% ii%i 30% lima
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    • Article
      Investments boost I and P earnings
      850 4 BUOYED by higher returns from it* Investments In plantation and mining companies, Island and Peninsular Development recorded a rise of about 30 per cent in group earnings for the year ended March 31. 1977. Group pre-tax oroflt rose to M< 10.87 million from <8.35
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    • COMPANY MEETINGS
      • Article
        Bukit Sembawang Estates Ltd.
        29 4 THE following company meetings are due: Auk 4, 11 a.m., at the office of John Buttery <i Co., Sandllands House, 100C Pasir Panjang Road, Singapore.
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    • Article
      Lock icon Is it coming to an end?
      1166 4 NYSE RECOVERY NYT NEW YORK, Tues. For those who believe that the performance of the various financial markets convevs an insight into what actually is going on in the real world of business activity, monetary developments, political affairs and international relations, there appeared to
      NYT  -  1,166 words
    • Article
      CHICAGO BOARD OPTIONS
      1239 4 On August 1 TRADING on the Chicago Board Options Exchange came to 73,149 contracts on Monday compared with 82,266 contracts on Friday. OPTION ADO NOV PRB STOCK Alcoa 90 33/0 DNTRD 91/0 '931/4 Alcoa 80 3/0 19/10 11/3 931/4 Am Exp 39 DNTRD 01/3 DNTRD 40 3/4
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    • Article
      Lock icon SWITCHING IS MUTUAL FUNDS LATEST GAMBIT
      796 4 NYT NEW YORK, Tues. One of the selling points used by mutual fund organisations these days la that the Investor can switch among funds within a mutual fund group at a nominal cost of UBB5 a switch. Thus, If the Investor owns shares In
      NYT  -  796 words
    • Article
      Second quarter drop at Nabisco
      216 4 NEW YORK. Tues Nabisco Inc., made net earnings of US$7.5 million or 47 cents a share on sales of $503.9 million in the second quarter of this year. This compares with net earnings of $17.8 million or $1.12 a share on sales of $477.0 million
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    • Article
      Lock icon Exxon signs pact
      67 4 Reuter WASHINOTON, Tues. The Energy Research and Development Administration said It signed an agreement with Exxon Corp's, Exxon Research and Engineering Co, to develop a process for producing liquids from coal. The five-year programme will cost US$24O million, with ERDA supplying half of that amount. The coal
      Reuter  -  67 words
    • Article
      Lock icon Dowa's Ezuri plans
      100 4 Reuter TOKYO, Tues. Dow a Mining said It plans to start developing the Ezurl black ore (compound nonferrous metal ore) mines In northern Japan next April to produce more than 20,000 tonnes of sine, 7,000 tonnes of lead and 2,000 tonnes of copper a year from 1981.
      Reuter  -  100 words
    • Article
      Lock icon Wells Fargo
      49 4 Reuter SAN FRANCISCO, Tues. Wells Fargo Bank said It signed a US$l5.5 million loan agreement with Namhae Chemical Corp of Seoul, Korea. Wells Fargo, which acted as agent bank In a syndicate of mine International banks, said the seven-year loan Is guaranteed by the Korea Development Bank.
      Reuter  -  49 words
    • Article
      Lock icon Boeing: Cancelled B-l plan poses uncertainties
      338 5 NORTH AMERICAN COMPANIES Reuter BOEING CO said cancellation of the B-l programme poses a number of uncertainties for Its military business. Anticipated revenues from B-l programmes will be difficult to replace, but opportunities for other assignments are present. It cited possible additional B-52 modification
      Reuter  -  338 words
    • Article
      Lock icon Pan Am seeks okay for flight
      152 5 AP PAN AMERICAN WORLD AIRWAYS has asked the Civil Aeronautics Board for permission to fly a Boeing 747 on around-the-world flight over the North and South Poles to celebrate the carrier's 50th anniversary. Tickets on the flight, which will attemDt to set a record,
      AP  -  152 words
    • Article
      Lock icon Phillips to sell gas
      136 5 Reuter PHILLIPS PETROLEUM CO said Danish and Norwegian authorities agreed on terms to permit the sale of natural gas beginning this fall from the Ekoflsk area In the North Sea. The company said the gas will flow through a 440-km pipeline from the Ekoflsk field to
      Reuter  -  136 words
    • Article
      Lock icon Ryutsu seeks rehabilitation
      93 5 ASIAN COMPANIES Reuter RYUTSU KAIUN Co Ltd said it has applied to the Kobe District Court for permission to rebuild itself under the corporate rehabilitation law following debts estimated at 30 billion yen. The Japanese tanker operating firm said its major creditors Include the Marubeni Corp and
      Reuter  -  93 words
    • Article
      SHK
      22 5 SUN HUNG KAI Securities Is paying an unchanged Interim dividend of HK seven cents for the first half ended June 1977.
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    • Article
      Lock icon Tokyu Dept Store
      85 5 Reuter TOKYU DEPARTMENT STORE Co Ltd said It will float a US$l5 million, 15year convertible bond In the Eurobond market at par on Aug 25. The coupon rate has not been fixed, It said. The Issue will be underwritten by a syndicate managed by Nomura Europe IV,
      Reuter  -  85 words
    • Article
      Lock icon Namura
      57 5 Reuter NAMURA SHIPBUILDING Co Ltd said It has contracted to build four 17,100 deadweight ton container carriers for a US shipowner for delivery next year. Namura said the order will cost about 14 billion yen, but declined to name the American firm. Industry sources said the firm was SSI
      Reuter  -  57 words
    • Article
      Lock icon Sears
      38 5 Reuter SEARS ROEBUCK and Co said directors raised the quarterly dividend to 24 US cents from 22V» cents, payable Oct 3. The company had been paying 45 cents quarterly before the two-for-one spilt effective last May 27.
      Reuter  -  38 words
    • Article
      Lock icon Libbey
      24 5 Reuter LIBBEY OWENS FORD said it raised Its quarterly dividend to 50 US cents per share from 45 cents, payable on Sept 15.
      Reuter  -  24 words
    • Article
      Lock icon Investment managers look to futures
      841 5 NYT NEW YORK Tues. If there is a view that managers of Investment portfolios have always shared, it is that the commodity futures market should be avoided by prudent people who want to conserve or increase their capital. One reason is that those responsible for
      NYT  -  841 words
    • Article
      Lock icon Sharp advance at Standard Oil
      231 5 Reuter STANDARD OIL of California said foreign earnings In the second quarter rose sharply from the year ago period while domestic earnings declined slightly. Foreign earnings in western hemisphere more than doubled to US$49 million due mainly to improved crude and product prices and higher
      Reuter  -  231 words
    • Article
      Lock icon Lockheed: No basis for charges
      178 5 UPI THE chairman of the board of Lockheed Corp. said a review by an outside audit firm proved there was no basis for charges that Lockheed billed the US navy for £117 million of "unaccounted for" steel. Robert Haack said an audit of more than
      UPI  -  178 words
    • Article
      Lock icon Ford, GM July production
      93 5 Reuter GENERAL MOTORS CORP said Its July car and commercial vehicle production was 530,790, up from 422,425 a year ago. Of this total, cars made up 398,229 and commercial vehicles 132,581, the company said. Ford Motor's July car firoductlon also rose to 92,110 from 152,552 a
      Reuter  -  93 words
    • Article
      Lock icon Ingersoll optimistic
      120 5 Reuter INGERSOLL RAND CO said It expects sales and earnings in the 1977 second half will comfortably exceed the first half. Second half net will be well ahead of a year ago, as re-stated earnings for the final six months of 1978 totalled U5547.4 million, or $2.29 per
      Reuter  -  120 words
    • Article
      Lock icon Union Oil raises earnings
      91 5 Reuter UNION OIL CO of California said the Increase In Its first half earnings to US$3.Bl a share from $3.39 a year ago reflected higher refinery runs In the US and improved natural gas and gas liquid prices. Union, however, noted the gain In the net
      Reuter  -  91 words
    • Article
      Lock icon SEC
      37 5 Reuter PRESIDENT Carter yesterday nominated Roberta Karmel, a partner in a New York law firm, as the first woman member of the US Securities and Exchange Commission, the government agency which regulates the securities industry. Router.
      Reuter  -  37 words
    • Article
      Lock icon Setback at LTV
      97 5 Reuter LTV CORP said both steel and meat and food products operations were down substantially in the second quarter. The company reported second quarter earnings of US7 cents per share, down from 79 cents a year earlier. Results include a loss of 21 cents per share from
      Reuter  -  97 words
    • Article
      Lock icon Am General gets truck order
      77 5 Reuter AMERICAN MOTORS CORP said its Am General Corp subsidiary received a U*****.7 million contract for 5,507 army trucks. Volume production on the contract will begin In late 1978 and continue for three years, American Motors said. It said options could raise the total to
      Reuter  -  77 words
    • Article
      Lock icon Alcan
      24 5 Reuter ALCAN ALUMINIUM LTD said it raised the regular quarterly dividend to 35 US cents from 20 cents, payable on Sept 8 Reuter
      Reuter  -  24 words
    • Article
      Lock icon BP cautious over oil find
      290 5 UK COMPANIES AP BRITISH PETROLEUM has made the first significant oil strike in the Atlantic Ocean west of the remote Shetland Islands, the state-controlled company announced yesterday. The strike opens up prospects of a major field west of the islands north of Scotland to boost
      AP  -  290 words
    • Article
      Lock icon Ultramar may double output
      152 5 Reuter ULTRAMAR CO LTD said continuing evaluation suggests there are sufficient reserves In the Badak gas field, Indonesia, and adjacent fields to double production In the next few years. The company was announcing the formal opening of the Pertamlna's liquified natural gas plant at fiontang, east
      Reuter  -  152 words
    • Article
      Lock icon Kautschuk may turn to Bayer
      105 5 EUROPEAN COMPANIES Reuter MUNICH, Tues. Bayer Ag's tyre and rubber products subsidiary Metzeler Kautschuk expects to make another loss In 1977 after a 45 million mark net shortfall last year as earnings continue unsatisfactory despite the boom In the Oerman car Industry, managing board chairman
      Reuter  -  105 words
    • Article
      Lock icon Fokker denies merger plans
      104 5 Reuter AMSTERDAM. Tues. Fokker-VFW NV has no plans to merge with Mesaer-schmldt-Boelkcw-Blohm (MBB) In the near future, executive chairman Oerrlt Klapwijk said in an Interview with the Dutch economic weekly "Fem." Fokker first wants to sort out its own affairs. It made a five million mark
      Reuter  -  104 words
    • Article
      Lock icon Workers lose jobs
      59 5 AFP MONTPELLIER (Southern France), Tues. A total of 450 workers have lost their Jobs with the closure of the Orasset-Masson building firm here, It was learnea yesterday. The firm was the victim of financial difficulties, but two efforts to refloat it are being studied. One Involves Orasset-Masson
      AFP  -  59 words
    • Article
      Lock icon D-mark credit
      50 5 Reuter FRANKFURT. Tues. The Spanish motorway authority Autoplstas del Atlantico Is negotiating a 80 million mark syndicated credit from a group of Derma n banks, banking sources said. The sources, who named Bayerlsche Landesbank Olrozentrale as lead manager, said terms are unlikely to be completed until September. Reuter
      Reuter  -  50 words
    • Article
      Lock icon BBC
      44 5 Reuter BADEN (Switzerland), Tues. BBC Ag Brown Boverl und Cie said It signed a 330 million franc contract with Riyadh Electric Co to supply a gas turbine power plant with a total output of 550 megawatts for completion by the end of 1979.
      Reuter  -  44 words
    • Article
      Lock icon IIB doubles capital to replace losses
      425 5 FT LONDON, Tues. In a major reconstruction the four shareholders of Italian International Bank, the London-based consortium group, have doubled Its paid up capital to £20 million to replace losses through heavy write-offs on the loan book. The bank has set aside exceptional provisions
      FT  -  425 words
    • Article
      Lock icon DRESDNER BANK
      59 5 Reuter FRANKFURT, Tues. Dresdner Bank Mid Helmut Haeusgen has been appointed the bank's new management board spokesman. Mr. Haeusgen's duties in the bank's board of directors have hitherto related principally to foreign business, a Dresdner official said. The appointment follows an emergency board meeting after the weekend murder
      Reuter  -  59 words
    • Article
      Lock icon Voest Alpine reports rise in turnover
      663 5 FT VIENNA, Tues. Voest Alpine, the nationalised Austrian steel and engineering concern reports a 17 per cent rise in group turnover to 44.8 billion schillings (£l.6bn) last year but also continued pressure on profit margins with no sign of a substantial Improvement for sales
      FT  -  663 words
    • Article
      Lock icon Montedison sees bad year ahead
      164 5 Reuter MILAN, Tues. Montedison Spa could make a loss of around 200 billion lire this year If trends In the first four months continue throughout the year, according to company estimates. A company spokesman said this figure was quoted by Montedison's recently appointed chairman, Guluseppe
      Reuter  -  164 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      485 4 *5* m 1 c. B s i: w£i V fcS .V :Sl \S i« Ef <4 4 •i A IkfALA a ♦conoi vt/^vv *%V YSIAN BUSINESS, ths monthly business and nomics journal of Malaysia, offers you in its AUGUST 1977 issu« TEN YEARS OF ASEAN The Bangkok Declaration of August
      485 words
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      89 5 .J We are proud to announce with effect from Ist August 1977 the formation of Norwich Winterthur Insurance (Far East) Pte Ltd. (Incorporated in Singapore) A wholly owned subsidiary of Norwich Winterthur Holdings Ltd. an associate company of Norwich Union Insurance Group of the United Kingdom Winterthur Insurance Group of
      89 words
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  • Article
    Share Information Service
    2272 6 1*77 Hi«k Lmm Last Sals Gk's Dhr e*rr Vs C Nat P/l V«l <*06O> 1 Day Hick Lsw SECTION ONE INDUSTRIALS 154 204 96 230 101 198* 109 223 396 171 136 172 58 212 57 156 152 182 350 145 Aetna Alcorn Allied Choc Bata Ben
    2,272 words
  • Article
    Transactions in Singapore
    1352 6 BID in* offer prion Mad and bwfctaai la and raported to tha Hod trtanp af WnaipHi yoaiarday wttto Um number ofaiinetradad •hoam tn braefceta In lota of 100* unltt anlwa ottarataa All TUne Btttlcmtnt Contract! trt toiuif alUr tt» word "Mi." Bte Boart daali (in lou of
    1,352 words
  • Article
    In Kuala Lumpur
    1672 6 BID and offer prices officially luted and business in and reporud to the Kuala Lumpur Stock Exchange yesterday with the number of share* traded shown in bracket* in toU of 1.000 units unless otherwise specified INDUSTRIALS ACM A (1.428 1 448). AJtnemete (I.BSB 2 000) A. CUM
    1,672 words
  • Article
    Stock options
    50 6 STRIKING prion •t tha ataeh iiHii aAcialty Matai aa tha Stack Ksehaafa af Slagapwa, tha >■<>*«. hM ami Wfcr nrtcaa ud baaiaaaa daa yaaiarday, with tha aaw bar of apttaaa trtM locbcape (Dec $.240) (0.30B). (°izay- <Sep, KB5) (Dec 02.85) (0.208). U. 0.8. (dec $3.20) (0.208 0.228) (5)
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  • Article
    Unit trusts
    137 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Maaifm' prisi far Aag (Cl 1 M l p rtsss) INCOME BOND 1.07 1.13 tie Commerce.... 1.71 1J1 rhe Bavlng Fund O.M 1.04 MARA BUMIPUTRA FUND I'poreProg Fund i'pore Security Fund o.m ow (Maaagers' priea far Aag 1) 1.49 l.SSsd 1.01 1.0T
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  • Article
    CORPORATE BONDS
    144 6 B O T 8 1/2% 1981 (100,000) (103 *B 103*8) B O T 7 1/8* 1084 (100,000) (96*8 99*8) LTCB J 1982 (100,000)(90%B 99*8) Cradit Lyoaaala Floatiaf 1983 (100,000) (90*B 96*8) DBS Caavarta 6 1/2% 1981 (100,000) (988 98*8) D B 8 8 1/2% 1902 (100,000) (101 *B
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  • Article
    GOVERNMENT BONDS
    120 6 Baa Spore D Mark 7% 1982 (100,00)) (100*B 101*8) Baa Spora 6 1/2% 1983 (100,000) (99*8 1008) R« Spora 7 3/4% 1987 (100,000) (100*B 101*8) 8 1/4% 18/7/78 (250,000) (101.578) 4 3/4% 1/8/78 (250,000) (100.858 100.928) 5 1/4% 18/18/79 250,000) (101.958 102.058) 6 3/4% 16/6/86 (250,000) (104.758 105.008)
    120 words
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      Page 6 Advertisements Column 1
      176 6 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
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  • Article, Illustration
    MART ENDS STEADY
    631 7 CENTRAL SUGARS kit a mw high mil la KMrally Hufcr lntt« mm the Sioek liektßf* »f Btmgapawi yesterday. l)Mp(t( its dMipaUd statue, ud tkc fact tkat open pttMoai akoold have been covered weeks ago, the share coatiaued to flad bulliah support up to a new kigk at
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  • Article
    LATE RALLY ON KLSE
    371 7 BUYING SUPPORT in the late afternoon helped the Kuala Lumpur stock market to a steady close yesterday. Moderate bullish interest was accorded to some counters as operators literally chased prices up towards the closing bell. The morning's trading was generally quiet ana selective as prices eased
    371 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      345 7 HONOKONO: The market cioeed slightly lower on low turnover, In quiet trading, dsalera aald on Tueeday. The Hang Seng index dropped 1.83 pointa to close at *****2. Baagkaag Bank roae 10 centa to 817.70. while BatoMssa and Whsaleafc Maidaa fall 2.50 canto each to 93.175 and 92.80 reapectively. Beaakaag
      345 words
    • Article
      Tokyo
      408 7 TOKYO: Share prices ro«e on reports the government may adopt reflatlonary measures soon, dealers said on Tuesday. The Dow Jones Average gained 41.03 to close at 5,011.74 with volume 400 million shares. The New Index closed at 375.40, up 2.81. Electric power and related shares led the rise on
      408 words
    • Article
      Sydney
      313 7 SYDNEY: The market cioeed mixed having eased after morning galna, dealera aald on TueeThe Sydney-All-Ordlnarlea Index roae 0.27 pointa to 430.83. BHP roae 12 centa to $5.74, below Ita day'a high of $5.78, ASL gained one cent to 43 centa after Ita return to profit, CSR 13 centa to
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    • Article
      Manila
      181 7 MANILA: The market closed easier across the board In lacklustre trading, dealers said on Tuesday. Turnover fell to 5.26 million pesos from Monday's 5.77 million. The market's decline was attributed to lack of news from oil exploration sites and slack copper trading abroad. Pklira and Lspaat* lost three and
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    • Article
      Bangkok
      77 7 AUG m AjtaPlbrt 101 1 Banfkok Bulk 301 ♦4 Bangkok In*nt MO M Potttan Bank 3M Bala MS w*> Berli Juekar 00 met) Charootif Thai Wb« tas ftWMT Oudt ThanJ 130 *4 rmbcr Merlin rirat Trust Indo-Thai Industrial Flnanc IMA 10 J And J Ho Jalaprathan rn 10 148
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    • Article
      Amsterdam
      280 7 AMSTERDAM: The market waa very steady In quiet trading with Dutch Internationals lea higher by Royal Datch, which cioeed 1.80 guilders up, dealera aald on Monday. Elaewhere, NMB led banka firmer. Moat lnaurancea also roae, although Amfae fell. Trading shares, industrial and shippings were narrowly mixed. K.L.M. rose one
      280 words
    • Article
      Brussels
      158 7 BRUSSELS: Share prices closed mixed In quiet trading, bourse sources said on Monday. Unri, Astarieaae, FN. Hobokaa and S*l*%y rose but Sofiaa, Vleille Nosti|M, Cockarill and Acmc were lower. Oold mines were unchanged. In foreign stocks, Germans rose, Canadian and UK were unchanged, U8 mixed, French slightly lower and
      158 words
    • Article
      Frankfurt
      288 7 FRANKFURT: Shares closed higher following the firmer bond market and the dollar recovery but on small turnover, bourse sources said on Monday. In utilities KWK (Ms gained 4.10 marks while Vew was up six marks and Vsba two marks. In engineerings GHH rose two and Maa Oris three marks.
      288 words
    • Article
      Milan
      178 7 MILAN: Moat aectora eaaed In quiet trading on lack of buying interest, dealera said on Monday. Pirelli SPA, Plat and Meatediaea (after morning's Maatedlaaa forecast of a possible 200 billion lire loas) were leading lnduatrlala to loae ground, with the Ltqulgaa situation exerting a negative Influence on the market.
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    • Article
      Paris
      295 7 PARIS: The market generally eased In extremely quiet trading, dealers said on ManBanks, investments, cars and chemicals all lost ground while other sectors were mixed. Americans firmed, oils and Germans were mixed, and golds were stronger. AUG M Fr* CORBE1LLX Atr-Liquid* BSNOervau Danone C8 F(ThonuonCM) Cle Francalae de» Petroiei
      295 words
    • Article
      Jo'burg
      341 7 JOHANNESBURG: Gold shares were steady at their upper levels on higher bullion Indications and local buying Interest, but volumes were small, dealers said on Monday. Financial minings were harder where traded In every light trading. Elaewhere, Da Beera traded two centa up at 485, after 468 earlier. Coppers were
      341 words
    • Article
      New York
      1194 7 NEW YORK: The stock market minted only a modest fata in sluggish trad in* on Monday u unenthusiastic investors backed away from a broad moraine rally and progressively surrendered most of their earlier gains. Analysts said bargain hunting in the wake of recent sharp stock market declines accounted
      1,194 words
    • Article
      Indices
      73 7 FINANCIAL TIMES INDUSTRIALS Monday 440 3 Friday 440.2 Week Ago 437.2 DOW JONES AVERAGE INDUSTRIALS Monday 891.81 Friday 890.07 Week Ago 914.24 LONDON DOLLAR PREMIUM Monday 113 v% to 114 Friday 114H to 115* H.K. HANG SENG Monday closed Friday 417.85 Week Afo 418.47 SYDNEY INDUSTRIALS Monday closed Friday
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    • Article
      Lock icon Outlook good at Union Pacific
      171 7 Reuter NEW YORK, Tues. Union Pacific Corp said its second half outlook is good and railroad volume, particularly coal, soda ash and merchandise traffic, should reflect favourable economic conditions. The company noted, however, farm products are expected to remain at depressed levels primarily because of
      Reuter  -  171 words
    • Article
      Interest costs depress Amax
      143 7 GREENWICH, Conn., Tues Net earnings at Amax Inc., declined about 28 per cent In the second quarter of this year mainly as a result of Increased interest expenses and a reduction in Investment tax credits. Net earnings fell to U8827.74 million or 75 cento a share
      143 words
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      Page 7 Advertisements Column 1
      405 7 BUSINESS TIMES Airline Directory Soviet AlHiam 110-112 Show Centra, Orchard Rood, Singapore 9 (Tol: 377.111) Air Coy ion M).ft \mA 1 Vf riwij nwvf k U/ M linnnniMi II) vIIVIIIVII Vjf \I (Tol: ***** M) Air Franco e.n.,.J m in Tbant«n Wm VtMMfIL rwWi IWv WMHWBi T Sinjopin 1 (Tol:
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      475 8 ON the Singapore rubber market yesterday, opening luotatlons were marked own a half cent following easier overseas advices but later recovered on shortcoverlng and some October/ December demand, dealers said. Volume was small. The morning session closed slightly higher with August RSS One buyers quoted
      475 words
    • Article
      R.A.S. PRICES
      310 8 Prices in cents per kUo yesterday: Noon Cloae (per kilo) Buyers sellers (pei Buyers 'kilo) Sellers Int. 1 R.S.S. prompt f.o.b. 191.25 192.2SN 191.00 192.00N Int. 1 R.S.S. August 192.50 193.00 192.25 192.50 Int. 1 R.S.S. September 194.00 194.50 183.79 194.00 Int. 2 R.S.S 190.75 191.75N 190.75 191.75N
      310 words
    • Article
      SSR AND SMR
      94 8 NOON SSR and SMR prices yesterday R.A.S. (Curmt Mtk) (Forward Mtk) Buyers Seller* Buven Sailers I per kg) (ceaU per kg) (cent! SSR 20 (1-ton Pallet) 191.00 193.00N 192.00 194.OON SSR SO (1-ton Pallet) 188.SO 190 SON 189.SO 191. SON M.R.E.L.B. SMRSCV (1-ton pallet) 213.00 21S.00N 213.00
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    • Article
      Closing prices
      29 8 w Robber: August 2 Singapore: August 192.25 ONti (up 0.25 cent.) Malaysia: August 191 casta (unchanged) Tin: 91.928 (down 93) Official offering: 203 tonnes (down 32 tonnes)
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    • Article
      Produce exchange
      564 8 COFFEE bean prices continued to recover strongly In the Singapore produce market yesterday. The other sectors of the market, however, was dull and quiet. Oolng by the prices supplied by the Singapore produce exchange, all grades of coffee were marked up by another 930 per plcul, bringing the
      564 words
    • Article
      Hongkong comex
      296 8 HONGKONG, Tues. The market closed sharply lower after opening with December quoted limit down, In reaction to the overnight sharp decline In New York, dealers said. December closed US 3.75 cents lower on trade b«"«se new short selling, while other months lost from 2.72 to 4.10 cents, they
      296 words
    • Article
      Palm oil
      67 8 C.I.F. Rotterdam, US dollar* per ton. LONDON: Maaday Malaysia 5H ffa bulk: Sept Sumatra 5*: July Aug Sept Oct No* Pec Nigerian 5% ffa bulk ROTTERDAM: Sumatra: August Zaire (Belg francs per kilo) unq 510 pd 555 N 535 sir 500/490 pd 492.50 pd 480 pd unq 555
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    • Article
      Coffee
      367 8 LONDON, Tues. Futures ended the opening session barely steady, down £92 (March £2,060) to £50 per tonne from last night. 278 lots were traded. Dealers said the market eased under local dealer and stoploss selling following New York's weak close. Some dealers suggested the market was uncertain and seeking
      367 words
    • Article
      Straits tin market
      188 8 THE Straits tin price In Penang yesterday was down M*3 to $1,623 per plcul on an official offering down 32 tonnes to 203 tonnes. LONDON, Tues. Tin was unchanged for standard metal. High grade was about £7 higher for cash and £5 lower for Three Months. Dealers
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    • Article
      Sugar
      222 8 LONDON, Tues. Terminal opened £1.05 to £0.25 per tonne down from yesterday afternoon closing levels. Sales totalled 735 lots. Dealers said the market was marked down Initially following news that the Comlnlcan Republic had sold 110,000 tonnes of prompt shipment raws to two US operators. Although the price was
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      Cocoa
      184 8 LONDON, Tues. Terminal cocoa was very steady against New York In early dealings, taking an almost Immediate limit advance In near September at £2,910 per tonne. But trading was thin. Cocoa futures were fully supported for much of the morning In thin trading but closed about steady and generally
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    • Article
      Rice
      206 8 BANGKOK, Tues. Indicative prices quoted here were: (In US dollar* per tonne fob basis, Bangkok). White Rice: 100 per cent lat claaa, 300 100 per cent 2nd. 2M 1M per cent 3rd, 2M 5 per cent 277 10 per cent 233 IS per cent 250 SO per cent M7
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    • Article
      Soybeans
      104 8 CHICAGO, Tues. Soybean futures fell to new contract lows In early trading yesterday, with the August reaching U855.61 a bushel and the November '5.44. After an hour of trading, the August was down 25 cents from last Friday and new crop months were off 12 to 16 cents. New
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    • Article
      Wheat
      101 8 CHICAGO, Tues. Wheat futures were little changed yesterday after an hour of trading, showing losses of 1/2 to 1 1/2 cent a bushel. Prices fluctuated narrowly In light dealings, moving on either side of the previous close In a range of less than three cents. Traders said the Russian
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    • Article
      Copper
      337 8 LONDON, Tues. Copper wire bars registered losses of £1.50 for cash and £0.50 for Three Months. Prices staged a small rally on short covering and some chart buying prompted by the news of a breakdown In the Phelps Dodge strike talks In the US and the firmness In goki,
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    • Article
      Silver
      237 8 LONDON, Tues. Silver rose by 2.3 to 2.7 pence. Values edged higher in the pre-market reflecting the late overnight rally at New York and higher gold this morning, dealers said. The market held very steady In the ring as further covering and some fresh buying was met by profittaking.
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    • Article
      Gold
      311 8 FOLLOWING good support In the NY market last night, the Singapore gold market opened higher with the kllobar quoted at 5i11,487. Prices fluctuated in a range of $24.00 In moderate trading and closed at $11,483. In the London market, the metal opened at U*****.10/40 and closed lower at U*****.00/
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    • Article
      Lead
      97 8 LONDON, Tues. Lead finished with losses of £0.25 for cash and £0.75 for Three Months. The Initial steadiness reflected the trend in copper together with the continuing tight nearby market position, dealers said. Three Months traded up to £327.50 before profittaking pared the position to £324 following the subsequent
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    • Article
      Zinc
      103 8 LONDON, Tues. Zinc closed with gains of £0.75 for cash and £0.25 for Three Months. This metal followed the general trend with light covering taking Three Months up to £319 before scattered profit-taking and hedge selling pared the position to £316. There was also some market talk of East
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      536 8 OVERNIGHT money In the local market changed hands at higher levels yesterday following continued withdrawals of funds from the banking system to meet tax payments. From the opening of around five per cent, the overnight counter saw some panicky trading which pushed the rates up to the day's high
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    • Article
      Minimum lending rates
      50 8 ACBC 6^. Firat Chicago CV, Citibank (V, Bangkok Bank 7 HSBC cu Bank of America Indoauei Bank of China 7 6H Bank of Tokyo «*-4 Mitaui Bank Bank Negara OCBC «V, Indonesia 7 OUB SH Chartered Bank fii. UCB 7 Oaaa Manhattan Ih UMBC 7 DBS I'OB
      50 words
    • Article
      Asian $ rates
      164 8 Asian rates ASIAN currency deposit rales u at close on Auf 2 interbank US Dolli in (Spat) OflW BU 7 dayi 1 rnth 2 mtlu 3 mtlu 6 mths 6 mths 12 mths 1/16 VII 7/16 6 1/2 M 6 U/16 N. Fn. (MMtftal 5 7/8 3 14/18 1/16 6/16
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    • Article
      Discount
      45 8 RANGE of price* offered by discount hou*« on July 26 Overnight JS QUI deposit 3% B*J HN 3-Month Tre*iury bUU 3-Month Hinti Mil. J- Month CD 6-Month CD > 4 1/6 4 1/16 I1/16 2 7/1 4 7/16 4 0/16 Source: National Discount Co. Ltd.
      45 words
    • Article
      Euro $ rates
      108 8 Euro rates LONDON, Tues. Eurodollar deposit rates opened little changed from yesterday's close In quiet trading, dealers said. Three months was around 1/16 higher among time deposits, reflecting Friday end of period but other fixed dates opened steady. Shortdates opened very steady but tended oc- caslonally easier from openings In
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    • Article
      London
      267 8 LONDON, Tues. The dollar dipped to 2.2920/30 marks from initial quotes of around 2.3000 and its overnight 2.2984/94, dealers said. Profit-taking appears to be setting in as uncertainty over the dollar trend continues. Its early strength stemmed from Far East steadiness, the dealers noted. Sterling traded higher around 1.7395/7400
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    • Article
      New York
      116 8 NEW YORK, Tues. The dollar closed stronger across the board yesterday after opening above Friday's close, reflecting last week's rise in US shortterm Interest rates, dealers said. Venezuelan Energy and Mines Minister Valentin Hernadez's remarks that a further decline In the dollar would force Opec to take defensive
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    • Article
      Tokyo
      109 8 TOKYO, Tues. The dollar for overnight delivery closed at 266.80 yen, up from 266.70 at yesterday's close, but down from a 267.10 opening, dealers said. The US currency advanced to 267.15 at one point, but the high level later prompted export covering by traders, they said. No central bank
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    • Article
      Hongkong
      83 8 HONGKONG, Tues. The US dollar was little changed In quiet trading, with sterllng rising slightly to $1.7382/87 from New York's closing 1.7374/80, and the mark little changed from New York at 2.2995/03, dealers said. On the local market the US dollar fell slightly to close at HK84.6545/80, against Friday's
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    • Article
      Australia/NZ
      45 8 AUSTRALIA/NZ exchanges on Aug 2: Australia: Sterling 0.8487/0.8418 US doUar i.im/i.nn Ninety-day air mall baying rates: Sterling O.M US dollar 1.1488 Ninety-day forward buying rates: Sterling O.MI US dollar 1.1138 New Zealand: Sterling MO6/.9673 US doUar .V7M/.MH Ninety-day forward rate: BVertlng¥7M US dollar MM
      45 words
    • Article
      Frankfurt
      37 8 FRANKFURT exchanges opening quotes on Aug 2: US 2 .2WO/TOOO Can 2.1355/75 uk $.nvm Neth M.SI/»1 Swttc 98.31/48 Italy Z.SM/808 Prance 47.0 A/M Norw 43 48/58 Belg (com) 8 478/488 Belg (fin) g.42/48 Jaoan 0 8586/10
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    • Article
      Eurobonds
      285 8 LONDON, Tues. Eurobonds were steady to slightly higher in quiet trading, dealers said. Convertibles were fractionally higher in quiet trading. Straiffhu Bid Offer Austria 8* 90 101* 102* Bell Canada 8* M 104* 108* BFCE 8 V, 83 101* Brazil 9*84 98* 99 Can Pacific 9V> 83 102V, Credit
      285 words
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      Page 8 Advertisements Column 1
      173 8 .-V r ill rh MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia.
      173 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Detroit car acquires a European accent
      2071 9  -  By TERRY DODSWORTH FT LONDON: American and European car designers are on converging courses for the first time since the Second World War. Breaking the rule of silence about new models which chief executives Impose upon themselves, Mr. Henry Ford has recently revealed some
      FT  -  2,071 words
    • Article
      IN PORT
      379 9 EXPECTED ARRIVAL* TODAY KEPPEL WHARVES Atlantic Star (after Emiqa Bakke) 38/38 Cape Orafton (1000 after Emma Bakke) 35/36 Cherry Villa (B. Barge) (0800) 48 Oolden Eastern (0800 Subject freeboard) 22 Kankei (JFPE) (2300) 18 King River (0800) 23 Korean Mall (after Straat Nagasaki sails) 1/2 La Rioja (1830
      379 words
    • Article
      FAR EAST FREIGHTS
      737 9 SURPLUS tonnages overburdened the freight market with very few new enquiries to lift the gloomy outlook.- Owners considered themselves fortunate to receive old fixing rates. Due to lack of activities, no dramatic downturn of rate was reported except where a 64,000 tonner accepted a low 80 cents
      737 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      205 9 AP LONDON, Tues. Chartering adopted a varied nature as grain became leas prominent In reported fixing yesterday. However, no change could be detected In the general pattern of rates. Hampton Roads coal shippers covered a 40,000ton mid-August opening for Ghent with the 'Tdera*' at US$3.6O ((tyeharge tree).
      AP  -  205 words
    • Article
      Lock icon Approval sought for trans-Alantic Skybus
      299 9 Approval sought for transAlantic Skybus Reuter WASHINGTON. Tues. An American charter company yesterday Joined the Atlantic air fare war by proposing fares as low as US$l39 (*****) for scheduled one-way flights between 14 US cities and Brussels, chosen because of Its central location In Europe. Trans International Airlines, a subsidiary
      Reuter  -  299 words
    • Article
      Lock icon S. Korea and Japan sign air pact
      138 9 AFP TOKYO, Tues. Japan and South Korea have signed an aviation agreement allowing reciprocal flights between Seoul and Nasoya, central Japan. Under the agreement Initialled during five days of talks which wound up in Tokyo yesterday, Japan Air Lines and Korea Air Lines
      AFP  -  138 words
    • Article
      Lock icon Rise in laid-up tankers
      122 9 Reuter LONDON, Tues. The tonnage of tankers laid up in July Increased by about four per cent to 335 vessels of 36.28 million long dwt from 330 of 34.89 million In June, figures Issued by London brokers Da vies and Newman show. Independent owners were solely
      Reuter  -  122 words
    • Article
      Lock icon DN receives an order
      77 9 AFP NANTES, (West France), Tues. The Internavls Company has ordered a freighter designed to carry mainly large, heavy consignments from the Dublgen-Normandle (DN) shipyards. The management and staff of DN. with a labour force of 2,400 here, booked the order with some relief. A car ferry
      AFP  -  77 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      576 9 ARRIVALS oimci Operator Numbe Loot r Tin il From SLA SQ580 0255 MAA TMA TL304B 0530 TPE MAS MH682 0755 KCH PAN PA847 0810 SFO/HNL/OUM CPA CX710 1000 HLP GIA OA9BO 1030 HLP THAI T0423 1035 BKK SIA SQ211 1045 HLP THAI TQ981 1050 BKK OIA OA944
      576 words
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      Lock icon 'Airbag chemical can kill'
      226 9 UPI WASHINGTON, Tues. A chemical used to Inflate car alrbas safety devices Is a lethal poison and, In an abandoned car, can turn Into an explosive more sensitive than nitroglycerine, Representative Bud Shuster said yesterday. The National Highway Traffic Safety Administration In charge of enforcing government
      UPI  -  226 words
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      50 9 V. •■V its •/V <->.. 51 t>v ..'V --V mn i.i- v*£r -W. I r 1 fg .7^ Peter Benchley 4 Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' -DAILY TELEGRAPH 'For the second time -the book you can't put down' -DAILY MAIL Now on Sale at your regular
      50 words
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    Lock icon Burns poised to oppqse US tax proposals
    938 10  -  MUSIC TO BUSINESSMEN'S EARS By THOMAS MULLANEY NYT THZRK MAT be a new disagreement In the wind between the Carter Administration and Arthur Burns on taxes. In one of his regular virtuoso appearances before the House Banking Committee last Friday to give his
    NYT  -  938 words
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    Lock icon Taiwan: Staving off political isolation through tourism
    657 10  -  GOVT BOOST FOR HOTEL CONSTRUCTION By LIONEL TSAI Reuter TAIPEH: Taiwan, determined to stave off political Isolation, has given Its tourist Industry a shot In the arm by boosting hotel construction. In doing so, the Kuomlntang, the ruling Nationalist Chinese Party, hopes to
    Reuter  -  657 words
  • Article, Illustration
    Lock icon Iranian economy defies computer planning
    819 10  -  Iran's economic planners now have a super-slick computer which can feed them with projections about the country's latest Five Year Plan within milliseconds. Unfortunately, the economy itself does not run so smoothly. By ROBERT GRAHAM FT TEHRAN: Mr. Abdol Ma Jid M&Jldi, Iran's budget and
    FT  -  819 words
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    Lock icon Is cinema nearing the final fade-out?
    636 10  -  By JAMES OUTMAN Reuter NEW YORK: Within 10 years, the number of cinemas In the United States may well dwindle to one-tenth of the present number. This Is the prediction of David Flshman who has just completed a survey for the Arthur D. Little
    Reuter  -  636 words
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      200 10 THEHAMLYN PICTORIAL ATLAS OF THE WORLD A •im.'ieni and comprehensive atlas *s 1 >m ome indispensable both to students of geography and to cjeneral readers .•.no want to understand the new economic and political shape o* the world Here, for the fir t time, ,i conic fascinating and authoritative text
      200 words
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    Insurance agents: When they can be sued
    537 11 SOME disgruntled clients may sue Singapore insurance agents In the near future for their "negligent or reckless statements. This is the view of Dr. Mylnt Soe, senior law lecturer at the University of Singapore. He told an Insurance seminar yesterday: "An agent may
    537 words
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    Lock icon Future of US-India nuclear ties promising
    142 11 Future of USIndia nuclear ties promising Reuter NEW DELHI, Tues. The outlook for future nuclear cooperation between India and the United States was promising, according to Mr. Joseph Nye, US Deputy Undersecretary of State for Science and Technology. Mr. Nye made the comment after arrival for talk* yesterday on nuclear
    Reuter  -  142 words
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    'Check bosses who lay off workers'
    135 11 THE GOVERNMENT has been urged by the Singapore Manual and Mercantile Union to check on employers who retrench employees at random and replace them with lower salaried workers. According to Labour News, the NTUC's official organ, the SMMU's memorandum to the Labour Minister adds
    135 words
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    Lock icon Japanese may decide to boost economy
    531 11 Reuter AFP TOKYO, Tues. The Japanese government may adopt Interim measures to stimulate the economy before Prime Minister Takeo Fukuda leaves on his South-east Asian tour later this week, the International Trade and Industry Ministry said. J The measures may Include Increase plant and
    Reuter; AFP  -  531 words
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    Lock icon Bangkok go-ahead for loan
    72 11 Reuter BANGKOK, Tues. The Thai Government said it authorised the state-run Electricity Generating Authority of Thailand to negotiate a US$9O million (***** million) loan for two electricity development projects. The loan will come from the World Bank, the Kuwait Fund and private commercial banks, and will
    Reuter  -  72 words
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    Lock icon Four UN agencies get $7m
    122 11 AFP TOKYO, Tues. The Japan shipbuilding Industry today contributed US$2 95 million (897.17 million) to four organisations of the United Nations in support of their work, Including assistance to Palestinian refugee*. In a brief ceremony held in Tokyo, the four separate contributions were presented by
    AFP  -  122 words
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    Lock icon US car dealers crying for more Toyotas
    235 11 AFP TOKYO, Tues. Amid growing criticism over relentless Japanese car exports that are Inflaming US-Japanese trade relations, more than 300 US car dealers here asked Toyota Motors, Japan's largest car maker, to boost Its exports to the United States. The group, comprising 323
    AFP  -  235 words
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    East Coast Parkway moves into phase four
    205 11 THE Implementation of phase four of the East Coast Parkway Is another major step in the transportation plan for Singapore which was developed from 1967 to 1971. Speaking at the groundbreaking ceremony of the fourth phase of the expressway, Dr. Tan Eng Liang,
    205 words
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    S-EA TIMBER GROUP TO BOOST OUTPUT BY 200pc
    197 11 MEMBERS of the South East Asian Lumber Producers' Association will Increase their production by more than 200 per cent In 1995 to meet expanded world demand for tropical hardwood. Member countries are Indonesia, Malaysia, the Philippines and Papua New Guinea. The four
    197 words
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    Lock icon WHO to set up centre in KL
    116 11 AFP KUALA LUMPUR, Tues. The World Health Organisation (WHO) will set up a regional training and research centre on tropical diseases control here towards the end of this year. Malaysian Health Minister Tan Sri Lee Slok Yew, who announced this today, said WHO
    AFP  -  116 words
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    $33m worth of marine engines
    75 11 LOCAL and South Korean shipyards have awarded MWM-Diesel Far East *33 million worth of contracts for the supply of marine engines. TheOennan firm, headquartered In Singapore, will supply 2,100 horsepower capacity engines for two mini-liners to be built by Singapore Koon Seng shipyard for Norwegian
    75 words
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    Judgement plea by Todd
    130 11 TODD SHIPYARDS Corporation of New York yesterday appealed to have the Judgement made by Mr. Justice Kulasekaram reversed in regard to the distribution of proceeds from the sale of a tanker which formerly belonged to Court Lines of London which collapsed In 1974. Mr. Justice Kulasekaram
    130 words
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    Lock icon LNG plants will boost revenue
    153 11 Reuter JAKARTA, Tues. President Suharto has said the newly built liquefied natural gas (LNO) plants In Bontang, East Borneo, will add a total of U557,700 million (SSIB.M6 million) to the state revenues within 20 years. Inaugurating the plants yesterday, the Indonesian leader said the project
    Reuter  -  153 words
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    Lock icon HK to buy more resin
    97 11 ATP Talpeh, Tues. Hongkong will Increase its purchase of plastic rata, compound or powder, from Taiwan m demand by the Hongkong toy and plastics industry la expected to Increase by 10 to SO per cent this year. Taiwan and Japan are major raw material suppliers
    ATP  -  97 words
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    Lock icon Higher output of cotton goods
    143 11 AFP TOKYO, Tues. Japan's cotton goods production in June rose six per cent In yarns (37,880 tonnes) and three per cent in fabrics (194,850,000 square metres) respectively over the preceding month. The Ministry of International Trade and Industry, in Its June textile production report, said
    AFP  -  143 words
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    Lock icon M-1 chalks up 2.5 pc increase
    84 11 Reuter TOKYO, Tues. Japan's seasonally-adjusted M-l money supply rose 2.5 per cent In June after a 2.3 per cent fall In May to give a year on year rise of 5.1 per cent (3.8 per cent In May), the Bank of Japan said. Seasonally
    Reuter  -  84 words
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    SUMNER LEAVES TRACTORS (M)
    118 11 TRACTORS Malaysia Berhad announced on Monday Mr. A.J. Sumner's resignation from the board and his replacement by Mr. J.S. Booton with imme- diate effect. TMB Is a 75 per centowned subsidiary of Blme Darby Holdings, and la listed on the Kuala Lumpur Stock Exchange. A spokesman
    118 words
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    Lock icon Peking's envoy arrives in Tokyo
    179 11 Reuter TOKYO, Tues. China's new ambassador to Japan, Mr. Fu Haon arrived here today after a delay of nearly two months. The appointment of Mr. Fu, a former Chinese ViceForeign Minister, means that Peking has upgraded the post In line with the United States and
    Reuter  -  179 words
  • Article
    Rollei in-plant course for 20
    132 11 ROLLS! Singapore will be conducting an ln-plant training course for 20 of Its mechanical technicians at the Chal Chee plant with the help of the Industrial Training Board. The company decided to make use of facilities offered by the ITB and has approached the ITB's
    132 words
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    Lock icon Taipeh industries not expected to achieve targets
    407 11 AFP TAIPEH, Tue. Taiwan will probably have a lower economic growth rate this year a* both exports and Industrial production hare fallen short of their targets, the Economic Planning Council (EPC) predicted. In a report renewing the general economic situation In the first
    AFP  -  407 words
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    Annual licence for palm oil mills a 'must' from next July
    311 11 KUALA LUMPUR, Tues. Owners of palm oil mills will be required to obtain an annual licence from the Director-General of Environment from July 1 next year to continue their operations. Offenders will be liable to a fine not exceeding
    311 words
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    Lock icon Rise in HK money supply
    158 11 Reuter HONGKONG, Tue». Hongkong's narrowly defined money supply Ml rose 2.1 per cent In June from May to HK816.11 billion (888.06 billion) after a three per cent rise In May, Banking Commission figures show. The more broadly defined M 2 aggregate rose 1.8 per cent
    Reuter  -  158 words
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    PEM to expand its local meat market
    166 11 FRESH meat wholesalers and retailers, Prime Export Meat Singapore (PEM), will be expanding Its base in the food distribution industry. The company's paid-up capital will soon be Increased by $500,000 to place total paid-up at the $600,000 mark. PEM, established by an Australian
    166 words
  • Article
    On career guidance
    51 11 THE Industrial Training Board will be participating In a one-week Career Guidance Exhibition organised by the Ministry of Education on Aug 24 at the NTUC Conference Hall. The ITB will feature exhibits on building, electrical, electronics and metal trades. Their trainees will also demonstrate their skills to
    51 words
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      617 11 APPOINTMENT ASIAN DEVELOPMENT BANK The Asian Development Bank is on international development finance institution, based in Manila, Philippines, and established for the purpose of lending funds, promoting investment and providing technical assistance to developing member countries, and generally, for fostering economic growth in the Asion region. The Bank offers challenging
      617 words
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    Business-like stance to be adopted in talks with Fukuda
    626 12 JAPAN can be laond of a realistic, hard-headed and business-like reception when Prime Minister Fukuda arrives for the post summit conference with the heads of government of Asean. In a televised press Interview yesterday the five Asean foreign ministers Indicated that
    626 words
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    Lock icon FRASER WILL RAISE SUGAR ISSUE WITH JAPANESE PM
    261 12 Reuter TOKYO, Tues. Australian Prime Minister Malcolm Fraser will almost certainly raise the issue over a lons-term sugar contract with his Japanese counterpart Takeo Fukuda when he meets him in Kuala Lumpur next week, sources close to the Australian Embassy said today.
    Reuter  -  261 words
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    Appointed by bank
    57 12 THE American National Bank and Trust Company of Chicago, which opened its Singapore representative office on Monday has appointed Mr. Foo Kok Swee as its representative here. Mr. Foo is now the general manager of Heller Factoring Singapore. Both Heller ana the American National Bank are subsidiaries
    57 words
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    LONDON STOCKS
    702 12 LONDON, Tues. The stock market firmed with government bonds continuing the active sector. Sentiment here was initially helped by news that government broker supplies of long tap stock had been exhausted. Early gains of 3/4 among longer maturities were pared to 3/8 while shorts ended closed mixed. Dealers
    702 words
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    Lock icon Manila's choice of logo
    109 12 Reuter MANILA, Tues. A logo featuring five doves for the common peace aspirations of the members of Asean will be the Philippines entry In the regional competition for a new symbol to mark the organisation's 10th anniversary. The contest organising committee announced today that Manila graphic
    Reuter  -  109 words
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    Lock icon Cautious reaction to Australian textile report
    529 12 AFP KUALA LUMPUR, Tues. Asean trade officials reacted cautiously today to a report from Canberra of a possible end to preferential treatment for the Australian textiles, clothing and footwear industries. They declined to commit themselves to any firm comment, pointing out that what has
    AFP  -  529 words
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    Lock icon BANK CHARGES PROBE
    108 12 Reuter LONDON, Tues. UK Prices Secretary Roy Hattersley announced ne intends to ask the Price Commission to Investigate the charges made by banks for money transmission and other services. The 1977 Price Commission Act, which came Into force yesterday, allows the Prices Secretary to direct the commission
    Reuter  -  108 words
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    New Seoul rules on foreign loans
    138 12 SEOUL, Tuea. The South Korean Government yesterday put Into effect new regulations for foreign capital inducement under Which foreign loans of less than US$3 minion (897.29 million) will not be approved. The new rules announced by the Economic Planning Board said proposed foreign loans
    138 words
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    Jakarta's inflation rate
    78 12 JAKARTA, Tues. The rate of inflation for the first seven months of this year has reached 6.43 per cent, but was lower compared to the 9.6 per cent recorded during the same period last year, Information Minister Mashurl said here today. Speaking after a Cabinet session on
    78 words
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    SIA faces sharp rise in operating costs
    367 12 SINGAPORE Airlines has been seeing rather alarming trends In cost increases In the last three years. In a review of the airline's performance for 1978/77 at the sixth BIA/BATB Business Meeting, Mr. Llm Chin Beng, SlA's managing director, said landing and parking fees,
    367 words
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    Raja: Asean has failed in test of political will
    367 12 KUALA LUMPUR, Tues. The five Asean industrial projects are a test of the political will of the economic grouping to make the association a success. But Singapore's foreign Minister Mr 8. Rajaratnam said It is a case where the will has
    367 words
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    More passengers carried in June
    194 12 SINGAPORE AIRLINES carried nearly 200,000 passenger! In June, which Is a 17 per cent Jump from the previous June. Passenger load factor has Improved 6.7 percentage points to 76.2 per cent while overall load factor has also improved 6.5 percentage points to 70.2 per cent.
    194 words
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    Lock icon Industries asked for views
    233 12 AFP CANBERRA, Tues. The Australian Government has asked the local textiles, clothing and footwear Industries for their comments on a report published yesterday which recommended the end of preferential treatment for the Industries. Senior government ministers said today there would be no hurried decisions on the
    AFP  -  233 words
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    First buyer of System Ten
    233 12 JUST 20 days after Introducing its new System Ten to Singapore, International Computers Limited (ICL) found a local buyer Llm Kim Hal Electric Company, wholesalers of electrical equipment for heavy industrial use. Developed around the Singer Business Machines System Ten computer which ICL took over
    233 words
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    QUALITY CONTROL OF HK JEWELLERY
    97 12 HONOKONO, Tues. Hongkong jewellers are to start a stringent quality control system to ensure that buyers of gold and silver get value for money. A spokesman for an association grouping the main Jewellers In this shopping Mecca said today: "We need to police ourselves and
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    Lock icon Bulk of HK's exports go to US in first half
    495 12 Reuter HONGKONG, Tue«. Hongkong's total exports (domestic exports plus reexports) to the U8 rose to HK86.44 billion (SfS.22 billion) In first half 1977 from $5.33 billion In the same 1976 period, provisional Census and Statistics Department figures show. The Increase
    Reuter  -  495 words
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    Lock icon Outlook fairly bright
    243 12 AFP LONDON, Tues. Hong kong's economic performance over the next few years will be Increasingly determined by diversification of exports both geographically and In groduct range, the rlndlays Bank Group said In a survey Issued yesterday. It said talks now going on, or due to open soon,
    AFP  -  243 words
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    Capacitor exports to EEC exceed quota
    237 12 THE Department mt Trade has eoafirmed that Singapore experts of capacitor* te the European Fconsmlc Community has exceeded the "butotr" (or quota) agreed ea aad that any farther experts of the item will ao longer bo entitled to Generalised Scheme of Preferences (GSP) for
    237 words
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    Lock icon UK reserves soar by $4.5 billion
    194 12 Reuter LONDON, Tues. Britain's gold and foreign currency reserves Jumped by US$l.B5 billion (554.5 billion) last month without the help of any major loans abroad. The Treasury, giving the figures today, announced that the official reserves now stood at a record $13.42 billion. The
    Reuter  -  194 words
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