The Business Times, 21 November 1987

Microfilm: NL16022
Total Pages: 16
1 16 The Business Times
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  • Title Section
    Masthead
    12 1 BUSINESS TIMES MCI (P) 112/12/86 Weekend Edition, November 21-22 1987 75 CENTS
    12 words
  • Article
    FINANCIAL NEWS SUMMARY
    156 1 Overseas markets Friday HK Hang Seng Index 2214.70 (-42.90) Tokyo Nikkei Average *****.56 (-65.69 Sydney All-Ordinaries 1255.8 (-28.1 TKunday New York (Dow Jones) 1895.39 (-43.77 London (FT 30 Index) 1289.9 (-19.4 (Friday noon: Exchange rates USS: 134.80/90 yen 1.6730/40 DM SJ2.0320/30 US$1.7850/60 M$: SS0.8134/41 Simax Euro-S (Dec)
    156 words
  • Article
    Lock icon America may retaliate against Japan over public works issue
    441 1 AFP THE US yesterday threatened Japan with trade sanctions if it persists in refusing foreign firms access to large public works projects. US Commerce Secretary William Verity warned at a press conference in Tokyo that what he termed Japan's negative stance
    AFP  -  441 words
  • Article
    Lock icon Shultz, Shevardnadze to re-open arms talks
    339 1 Reuter US SECRETARY of State George Shultz and Soviet Foreign Minister Eduard Shevardnadze will meet in Geneva on Monday in a fresh bid to complete a nuclear arms treaty in time for a superpower summit in December. US arms delegation spokeswoman Veda Engel said
    Reuter  -  339 words
  • Article, Illustration
    US budget concern rules markets
    292 1 THE QUESTION of whether a positive agreement would be reached in the US budget talks continued to rule major markets where trading volume was thin and sentiment nervous. Most markets, except Tokyo, closed lower yesterday. The increasingly strong belief that the Washington talks would pass
    292 words
  • Article
    Lock icon Dow lower
    38 1 Reuter US STOCKS yesterday began on a weak note, frustrated by the political haggling that has delayed agreement on a budget reduction package. The Dow Jones Industrial Average eased 24 points to 1872 in early trading.
    Reuter  -  38 words
  • Article
    Lock icon UK shares down
    42 1 Reuter DISAPPOINTMENT over the lack of progress in Thursday's budget talks knocked 2 per cent off London shares by 1400 GMT yesterday. By mid-afternoon, London's 100-share Financial Times Stock Exchange Index was off about 30 points at 1,609. Reuter
    Reuter  -  42 words
  • Article, Illustration
    NOL's revised rights issue still in the balance
    441 1  -  SUB-UNDERWRITERS AWAIT GO-AHEAD FROM HEAD OFFICES By AMY BALAN NEPTUNE Orient Lines will only know early next week whether it can proceed with its revised one-for-one rights issue. A number of foreign sub-un-derwriters were still waiting for the go-ahead from their respective
    441 words
  • Article
    US dollar declines further
    215 1 A BRIEF WAVE of selling pressure during early European trading hours yesterday depressed the US dollar further, as traders became increasingly impatient with the lack of progress in talks to cut the US budget deficit. The forex markets were disappointed that White House and congressional budget
    215 words
  • Article
    Lock icon Mahathir welcomes Philippine move
    104 1 AP MALAYSIAN Prime Minister Datuk Seri Dr Mahathir Mohamad yesterday welcomed a move by the Philippines to drop its claim to the Malaysian state o! Sabah. "I hope it gets through,'' the premier said when asked to comment on a Bill presented to the Philippine Senate
    AP  -  104 words
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      263 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM SINGAPORE PETROLEUM Corporation yesterday concluded a deal with Kuwait Petroleum to refine jet aviation fuel to supply to Chang i Airport. HOME NEWS, Page 2 NATIONAL SEMICONDUCTOR launched its Local Industry Upgrading Programme (LIUP) yesterday with a promise to share its technological know-how and
      263 words
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      Page 1 Advertisements Column 2
      100 1 Full S'pora report, Pag* 14 World markets, Page* 6 and 7 vmmmm HOW MUCH INSURANCE should you buy to protect your life, home or business? What type of coverage should you get? How do you shop for an insurance policy? This Monday, Business Times will introduce a weekly column that
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      156 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM Hooked on the reel thing Page 9 Ode to climbing on after the Crash Page 9 TV programmes for today and tomorrow Page 10 Lemmon, Olivier and Tchaikovsky Page 10 If music be the food of love, toss the Vega Page 10 Dummy love
      156 words
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  • HOME NEWS
    • Article
      SPC signs refining contract with Kuwait
      434 2  -  By JEFFREY TSANG SINGAPORE Petroleum Corporation (SPC) yesterday concluded a deal with Kuwait Petroleum to refine jet aviation fuel to supply to Changi Airport. Although no volumes were disclosed, the deal is believed to be potentially large since Kuwait Petroleum, which is the largest
      434 words
    • Article
      Beazley leaves
      111 2 AUSTRALIAN DEFENCE MINISTER Kim Beazley left last night after two days of calls on senior defence officials and visits to military establishments. Mr Beazley, here at the invitation of his Singapore counterpart, Defence Minister Goh Chok Tong, called on Second Defence Minister (Services) BrigadierGeneral (Res) Lee Hsien Loong
      111 words
    • Article
      Corrections and clarifications
      50 2 BT reported yesterday that Australian Defence Minister Kim Beazley had met his Singapore counterpart Goh Chok Tong and Second Defence Minister (Services) Brigadier-General (Res) Lee Hsien Loong on Thursday. This is incorrect. Mr Beazley met Mr Goh on Thursday and BG Lee yesterday. The error is regretted.
      50 words
    • Article
      National Semicon launches industry upgrading scheme
      405 2  -  By ANNA TEO NATIONAL Semiconductor launched its Local Industry Upgrading Programme (LIUP) yesterday with a promise to share its technological know-how and help its suppliers "in every possible way". The company, the first integrated circuits manufacturer among nine multinationals to join LIUP, will provide
      405 words
    • Article
      MRT tickets to have time limits
      76 2 TIME LIMITS will be imposed on all Mass Rapid Transit tickets with effect from Dec 1. Singapore MRT Ltd said yesterday that anyone holding a time-expired ticket will not be able to go through the exit gate of the station. To do so, the
      76 words
    • Article
      Rajaratnam paints optimistic scene for SMEs
      301 2  -  By BOEY KIT YIN SMALL COMPANIES can look forward to "happy days" again even though the international economy is going through a crisis, said Mr S Rajaratnam, Senior Minister (Prime Minister's Office). Speaking at the first anniversary dinner of the Association of Small- and
      301 words
    • Article, Illustration
      More than one good reason to smile
      149 2 THE FIRST PRIZE of the Go For Australia Contest could not have come at a better time for winner Jasmine Neo as she had planned to visit the country with a girl-friend next year. Ms Neo, a book-keeper with a commodity firm, said
      149 words
    • Article
      Lawyer cleared of charge
      222 2 A DISCIPLINARY committee appointed by the Chief Justice to look into a charge of gross professional misconduct against lawyer Subhas Anandan has found him "not guilty". Attorney-General Tan Boon Teik had complained that Mr Anandan had behaved as a politician's agent in November last year when
      222 words
    • Article
      Accidents at shipyards up
      186 2 INDUSTRIAL ACCIDENTS in shipyards, after five years of decline, are up again. Labour Minister Lee Yock Stian said yesterday To cut down such accidents. builders and repairers should attract more local workers and retain skilled foreign workers, he said. Local shipyard workers have been found statistically
      186 words
    • Article, Illustration
      PEOPLE IN BUSINESS
      186 2 MARK BARING has joined the Singapore branch of Baring Brothers Asia Limited as a manager. Mr Baring, who takes up the appointment in the corporate finance department, was formerly with the company's office in London. MARK HEYWOOD is now resident manager of Royal Holiday Inn Singapore. Mr
      186 words
    • Article
      PAP kindergartens to get face-lift
      134 2 PAP KINDERGARTENS throughout Singapore are getting a face-lift in the People's Action Party's efforts to upgrade the standard of pre-school education. The PAP Community Foundation, a social arm of the party, has embarked on the upgrading programme with kindergartens in 21 constituencies, said Home Affairs
      134 words
    • Article
      Freighter charter' services
      60 2 TO MEET INCREASING demand for cargo space between Singapore and Australia/New Zealand, Singapore Airlines (SIA) will soon be operating freighter char-' ter services to these two countries. The dates of the services are>. Nov 24 and Dec 8, Singapore-" Sydney; Nov 25 and Dec 9, Syd-ney-Singapore; Dec
      60 words
  • Article
    SHIPS IN PORT
    980 2 AT CONVENTIONAL WHARVES Vasaal Berth Arrival Departure KEPPEL WHARVES Alberuni KI9 alongside 2I.1IAM00 Botyinshon IC3I olongside 23.ll/0i00 Blue Comet K20 olongs.de 2111/0600 Calugoreni K30 alongs.de 21 11/1500 Concord Gossan K15 alongs.de 2111/1500 Boukhori C10 alongside 22.11/2300 Koto Berkat KI7 alongside 21.11/1930 KrisModuro K25W olongside 2111/1100 lin Petoling
    980 words
  • Page 2 Advertisements
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      282 2 S|*'< i.il set dinner .lvailaMc nightly, [>ri< cd it: $28 (or 2 |x rs<)[)s $55 -t- t lor 4-5 rs( >ns $88 tor 6 8 [irrsons Goidett Pfwenix CHAO ZHOU GARDEN RESTAURANT Level 6, UIC Bldg, Shenton Way. Tel: *****55. SUNDAY SPECIALS Sichuan Set Lunches at the Gotdea Phoenix Sichuan
      282 words
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      Page 2 Advertisements Column 2
      7 2 Prompt pick-up anddelivery 24 hours a day
      7 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      31 2 Nassau New Delhi New York Nicosia Oslo Paris Perth Rio 'Janeiro Rome San Fris'co San Juan Santiago Sao Paulo Seoul Stockholm Sydney Taipei Tel Aviy Tokyo Toronto Vancouver Vienna Warsaw Washington
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  • OVERSEAS
    • Article
      Lock icon Fall in value of the ringgit a boon to Malaysia's economy
      171 3 Reuter MALAYSIA has gained from a fall in the value of its ringgit against the yen and sterling. Central Bank governor Tan Sri Jaffar Hussein said in Kuala Lumpur yesterday that the ringgit has depreciated over the past two
      Reuter  -  171 words
    • Article
      Lock icon Tourism in Thailand likely to increase by 10pc next year
      144 3 Reuter TOURISM, Thailand's top foreign exchange earner, is expected to increase by 10 per cent to 51 billion baht in 1988. A Tourism Authority of Thailand (TAT) report released on Thursday said about 3.41 million visitors from Asia. Europe, North
      Reuter  -  144 words
    • Article
      Lock icon Thai trade deficit widens sharply
      110 3 Reuter THAILAND'S trade deficit widened sharply to a preliminary 31.4 billion baht in the first 10 months of 1987 from 10.3 billion a year ago, due to sharply increased imports to fuel its economic expansion. A Bank of Thailand spokesman said on Thursday that imports
      Reuter  -  110 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      950 3 ARRIVALS Operator Sorvic* Local From numbor Km* OA OA471 0015 ATM S1A SQ1I 0145 LAX/MIT UA UA805 0120 SFO/HKG MAS MH619 0125 KUL CAL C1333 0405 TP€ SU SQ4I 0615 MAA MK MK746 0725 MRU MAS MH601 0730 KUL MAS AAH681 0820 KUL SU SQ4I7 0835 JED/BOM
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    • Article
      Lock icon EC Parliament gives air fare deal green light
      144 3 Reuter A EUROPEAN COMMUNITY package to liberalise air fares has been supported by the European Parliament, allowing EC ministers to push the deal through next month. The package represents a first step towards a European "free skies" policy, blocked so far by
      Reuter  -  144 words
    • Article
      Lock icon Afghan MiGs attack Pakistan
      142 3 AFP AFGHAN air force planes attacked north-western Pakistan late on Wednesday and early on Thursday, killing 10 people and wounding 20, including women and children. Local correspondents in Pakistan added that Afghan MiGs hit Sheikh Baba village in Miamand district, north of Peshawar, overnight on Wednesday,
      AFP  -  142 words
    • Article
      Lock icon Soviet PM visits India
      120 3 AP SOVIET Prime Minister Nikolai Ryzhkov arrived in New Delhi yesterday to inaugurate a year-long Soviet cultural festival and meet Indian officials. Indian police placed many Afghan refugees under house arrest on Thursday for up to a week as a security measure during the visit, a
      AP  -  120 words
    • Article
      Lock icon Vietnam may sign oil contracts
      104 3 AFP VIETNAM is likely to sign oftshore oil exploration contracts next year with India's state-owned Oil and Natural Gas Commission (ONGC) and the Belgian company Petrofina. a Vietnamese official said. Le Van Hung, deputy-di-rector of the international cooperation division of the Vietnamese General Oil and
      AFP  -  104 words
    • Article
      Lock icon Tokyo economy likely to expand further
      413 3 Domestic demand will remain firm, says report Reuter AFP JAPAN'S economy, bolstered by robust domestic demand, is likely to keep expanding steadily despite recent stock price plunges and the yen's renewed rise, the government's Economic Planning Agency said in a report yesterday. The monthly
      Reuter; AFP  -  413 words
    • Article
      Lock icon South Korea tells foreign banks to reduce swap deals
      174 3 Reuter SOUTH KOREA has told 48 foreign banks operating in the country to reduce the current outstanding US$l.B6 billion in swap funds by 10 per cent by the end of this year. Finance ministry officials in Seoul said yesterday that the
      Reuter  -  174 words
    • Article
      Lock icon US Senate approves US$296b defence Bill
      209 3 Reuter THE US SENATE has approved a US$296 billion defence Bill that restricts President Ronald Reagan's "Star Wars" anti-mis-sile programme and puts a brake on strategic deployments exceeding limits of the Salt-2 Treaty. The Bill, a White House-Capi-tol Hill compromise aimed at averting an
      Reuter  -  209 words
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      59 3 fI 1| |[1 Ifl 1/ The business person's choice, every I 1 II 111 I uesclay Thursday, Saturday and I I 1 §1 \l II Sunday. Leaving Changi Airport at I vyj. v/,1 1 _1_ 22 05 hours and arriving at Lester B. Ftearson International Airport the following day. Call
      59 words
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      Page 3 Advertisements Column 2
      107 3 >2P^y i 4> IS Y M'RRM So* Ag»nt and O«lr«u«oi tor Sngapor* MMyu BrmtinJonna hincklfy sinlapore tkading PTE LTD A/ailable h both gents and lades. < mmmfr or Iff jCJIN Group or Convanm Service Centre: 400 Orchard Road 024-07 Orchard Towers. Singapore 0923 Tel *****22 (8 Lines) Tlx RS *****
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  • Page 3 Miscellaneous
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  • COMMODITIES
    • Article
      Lock icon Weather dampens hopes for Aussie crops
      393 4 UPI CONTINUED hot and dry weather last month has dampened earlier hopes of above-average yields for Australia's winter grain crops, the Australian Bureau of Agriculture (ABA) said in its November crop report released on Thursday. Prospects for grain legume crops have been most affected,
      UPI  -  393 words
    • Article
      Lock icon Copper producers expect tight market
      649 4 Reuter COPPER PRICES have risen sharply this year and world producers expect a tight market to continue into early next year. "Current orders are still very strong. And they're very strong at our customers' level," said Richard de J Osborne, chairman of Asarco Inc, a
      Reuter  -  649 words
    • Article
      Lock icon Malaysian rubber scientist wins honour
      223 4 Bernama A SCIENTIST with the Rubber Research Institute of Malaysia, Dr M Mohinder Singh, has been elected to the international governing board of the International Foundation for Science (IPS). The Malaysian Scientific Association said in a statement on Thursday that Or Mohinder Singh is the
      Bernama  -  223 words
    • Article
      Lock icon Desperate bid to save cotton harvest in Soviet republic
      289 4 Reuter THE AUTHORITIES in the Soviet central Asian republic of Uzbekistan have mobilised office workers. students and even schoolchildren in a desperate effort to save the cotton crop. The Soviet news agency, Tass, said on Thursday the cotton harvest was still
      Reuter  -  289 words
    • Article
      Lock icon Soybean
      234 4 Reuter CBT SOYBEAN futures rebounded on Thursday from morning lows when soymeal rallied late, closing near the highs with gains of 7-3/4 to two cents per bushel. January settled at $5.78-1/2 after posting a 12-cent range on the day. The strength in soymeal on rumours of additional Soviet meal
      Reuter  -  234 words
    • Article
      Lock icon Wheat
      223 4 Reuter CBT WHEAT FUTURES closed on or near the lows on Thursday, down 2-1/2 to five cents per bushel in moderately light trade. December settled at $2 93 after posting a four-cent range on the day. Today's weekly Usda wheat sale prompted speculative selling in wheat, finding limited underlying
      Reuter  -  223 words
    • Article
      Lock icon Rubber
      199 4 Reuter SINGAPORE The market closed slightly higher yesterday with December 1 RSS buyers quoted at 211.00 cents a kilo, up 0.50 cent from Thursday's close. On the TSR-20 market, prices were little changed. December TSR-20 closed at 208.00 cents a kilo, unchanged from Thursday's level. MALAYSIA Prices closed marginally
      Reuter  -  199 words
    • Article
      RAS and MRELB
      256 4 RAS prices In S canto/kg, FOB in bate NOON CLOSE lwy*ri Setts n kwy* r Sellers Int 1 RSS Prompt 211.50 212.50N 211.50 212.50N In* 1 RSS Doc 87 210.50 211.00 211.00 211.50 knt 1 RSS Jon 88 209.75 210.25 210.00 210.50 Int 2 RSS Of 209.00
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    • Article
      SSR and SMR
      76 4 (eanti/kg, l-«o RAS SS* 30 SS* 50 MRELB n poiWn) DECEMBER 87 (currant month) NOON lwy«n Saltan 311 -50 313-50 310.00 313.00 JANUARY 88 (forward month) NOON •vy*n Mw 211.50 313.50 310.00 313.00 SMt cv 266.00 368.00N mrywr* 367.00 369.00N SMI I 366.00 268.00N 367.00 369.00N SMf
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    • Article
      Precious Metals
      308 4 HONGKONG: Gold closed steady yesterday in fairly active trading mainly reflecting the weakness of the US dollar. The metal ended at U*****.40/90 an ounce against New York's 465.00/50 and the 464.50/465.00 finish here on Thursday. On the local market gold lost $2 to end at HK54,318 a tael
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    • Article
      Palm Oil
      448 4 Crude palm oil futuraa closed marginally steadier yesterday in active trading on the Kuala Lumpur Commodity Exchange. Dealers attributed the better prices to rumours that India was buying. The market undertone was strong. Spot month December rose $10 to MsB24 per tonne, January added $11 to $832 while
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    • Article
      Produce Prices
      248 4 Chinese Produce Exchange S#H#n noon pf Nov 20 (SS/100 kg) ice» an Coconut oil kft FOB 93.00 OW dram FOB 103.00 New drum FOB 107.00 Copra Mixed (loot*) 53 soMon Pepper y.,i„L urhHj WwwfW FOB NIW 1250.00 Sarawak wt*e FOB faq NIW 1235.00 Sarawak (pedal Mack FOB NLW
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    • Article
      London Markets
      320 4 London Commodity Exchange Buytf/Stlff doting pricot on Nov 19 (£/«09m unl Frtvioui doting pric* portnlhiiH. •a ipodfiod). n in CoffM tosh in-*tof« London, will r i option OF London Nov 1237/1240 (1234/1230) High/Low 1240/1230 Jon 1270/1272 (1266/1258) High/Low 1274/1258 g— I (1951) Cocoa Ok 1082/1083 (1087/1088) High/Low 1086/1082
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    • Article
      Lock icon KL Tin
      104 4 Reuter THE KUALA LUMPUR Tin Market price Ml two cents to dose at a kg yeeterday la fairly quiet trading, deelers said. The price fell In line wNh Thursdoy*s weaker European market, whtr h triggered Initial sales ef $7 tonnes against bids ol 52. Final turnover wae 72
      Reuter  -  104 words
    • Article
      Oil and Products
      79 4 THE FAR EAST markets maintained their weak tone yesterday. Supplies of product in Singapore are good and crude oil from the Arab Gulf continues to be offered at discounts to official prices. USS/barr* Oanft Dubai (Ok) 16.40 -0.03 WM> HW WTI (Ok) l«^9 -ao9 Products (FOB S'pore)
      79 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      98 4 AN EXTENDED NOW FOR A LIPERIODONI An extra night free OR A Ss7s gourmet meal at no extra chaige Coming home at *Ss7s++ gets even better! When you stay with us for two nights, you can stay on for a third night or come back anytime within the next three
      98 words
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  • BANKING AND FINANCE
    • Article
      Forex markets
      1091 5 SINGAPORE: The US dollar closed lower against major currencies in thin trading yesterday following late selling by European traders, dealers said. They said news that the White House and Congressional negotiators ended their 19th session on Thursday without an agreement to cut the budget deficit depressed the dollar.
      1,091 words
    • Article
      Options
      1511 5 INTEREST RATES OPTIONS \r- 1 Friday, Nova mbar 20, 1987 r EURODOLLAR (SIMEX) L> Dac 87 Mils Doc 87 puts High Low 8«a High Low Sa« 8950 3028 304 9000 2528 254 CAS 9050 2028 204 CAS •91«0 1528 154 CAS 9125 1278 130 1 9150 1028 105 1
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    • Article
      Government securities market
      86 5 Treasury bills Period Issue Yesterday's dosing Day's code Maturity BIO OFFER HIGH LOW 3 months 8Q*****V 19.2.88 3.65 3.60 3.68 3.60 6 HHXIt+M BS*****S 21.4.88 3.29 3.24 3.49 3.24 1 year BY*****H 22.09.88 3.69 3.64 3.72 3.55 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing
      86 words
    • Article, Illustration
      World interest rates
      176 5 Indicates the average of the prime lending rates of 12 major banks in S'pore Interbank market rates (offer/bid) on Nov 20 us$ DM SWFC Y«n 7 doyt 7/9 J/4 3/1* l/l* 3 11/1* —9/1* J1/J 3/« 4 1/3 4 1/4 1 «*#> 15/1* 13/1* 9 7/» 3
      176 words
    • Article
      Money markets
      56 5 THE overnight rate on the Singapore interbank market fell 1/2 point to 4 per cent yesterday. The one- two- and three-month term rates were unchanged. S$ Interbank rates at 7pm yesterdays OFfE* MO 4 3 7/8 1-monlfc 3 7/8 3 3/4 2-rartfc 3 15/16 3 13/1« 3-monlti 4
      56 words
    • Article
      Asian $ market
      282 5 Asian market ASIAN DOLLAR deposit rates closed little changed from its opening levels in quiet pre-weekend trading yesterday, dealers said. Short-dates were slightly lower at the outset but remained unchanged in subsequent trading. Weekend closed at 6-3/4 6-5/8 per cent and Monday/Tuesday and week-fixed at 6-7/8 6-3/4 per cent each.
      282 words
    • Article
      Comex gold/silver futures
      121 5 Gold futures on Nov 19 100 tray ounces USS par troy ounce Op*fi M0h Low t»i« No. 465.00 1.10 OK 466 30 466.50 465.30 465.80 1.00 Jon 468.80 1.00 Fab 88 471 70 472 50 471.00 471 JO 1.00 Ap» 478.50 478.60 477.00 477 50 1.00 Jun
      121 words
    • Article
      Simex/IMM
      592 5 DECEMBER Eurodollar opened 11 ticks higher yesterday at 92.53 owing to the decline in the stock market overnight. Prices, however, ranged narrowly between 92.50 and 92.56 in nervous trading with Miyazawa hinting that US budget negotiators may work past the deadline casting an uncertain outlook over the outcome of
      592 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      142 5 Organised by INTERKAMA Trade Fairs Pte Ltd 510 Thomson Road #10-03. SLF Complex Blk A Singapore 1129 Tel *****88 Tlx R*****0 INFAMA Fax *****14 Asia '87 International Exhibition on Educational Aid Vocational Skills Training Equipment An important Exhibition for all those seeking practical applications of modern educational methods and materials.
      142 words
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  • WORLD MARKETS
    • Article
      Lock icon Poor clearance system hampers world trading
      313 6 Reuter GLOBAL equities trading is being hindered by the lack of an international clearing and settlement system, speakers told a securities conference in London. Because foreign stock transactions are settled on the bourse of issue, dealers are at the mercy of various domestic conventions,
      Reuter  -  313 words
    • Article
      Lock icon Prices tumble on disappointment
      972 6 New York Reuter WALL STREET, frustrated and disturbed by the political haggling that has delayed an agreement on a defi-cit-cutting package, tumbled on Thursday. Traders said the moderate volume further emphasised investor's lack of confidence in a market easily swayed by remarks on the budget. The
      Reuter  -  972 words
    • Article
      Shares marked down sharply at opening
      692 7 London TRADERS arriving at their desks early yesterday promptly marked down prices sharply, amid continuing worldwide concern that no agreement to cut substantially the huge US budget deficit will be reached ahead of today's deadline, dealers said. INDUSTRIALS Nov 19 Pane* Aedo-Mfl 144 unc*
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    • Article
      Untitled
      1154 7 Amsterdam NOV 1* FLS 1ABN 42 10 -04 A agon SO 20 •08 Ahold 63 80 92 00 -3 146 80 *01 AMEV 42 90 -18 61 90 Asa SI ad 9800 ♦1 Barkal BOLS 109 SO -0 5 Boraumii Buahrman Tatlaroda 41 00 -1 Calva Elaaviar 30 00 .1
      1,154 words
    • Article
      Lock icon Prices fall sharply
      1409 7 Hongkong Reuter DESPITE share prices closing sharply lower, support from local institutions kept the Hang Seng index above the psychologically important 2.200 level yesterday. The index ended 43.14 points lower at 2,214.46. after sliding below the 2,200 level in early trading. The Hongkong index also slumped, losing
      Reuter  -  1,409 words
    • Article
      Seoul
      135 7 NOV 20 WON Chen Sugar Daeiim Ind Daewoo Corp Daewoo Heavy Oaiahin Sacuritiaa Dong Ah Phar Dong Suh Slock Dog bo Steal Goto Star ***** 2S100 ***** ***** ***** ***** ***** ***** ***** unch -300 -300 -250 1400 -100 -400 unch -500 Ma nil Bank Hanil Cement Hankuk Giaaa
      135 words
    • Article
      Lock icon Tokyo
      544 7 Reuter SHARE PRICES were mixed in very thin trade on the Tokyo Stock Exchange yesterday owing to a reluctance to trade ahead of a three-day weekend and uncertainty over the outcome of US talks on cutting the federal budget deficit. The 225-share price index gained 36.76 points to 22,705.56.
      Reuter  -  544 words
    • Article
      Lock icon Sydney
      462 7 Reuter THE AUSTRALIAN share market ended sharply lower yesterday, following renewed falls on Wall Street and London and continuing concern over the lack of progress in US budget deficit talks. At the close, the All Ordinaries Index was 28.1 points down at 1.255.8. the All Industrials lost 40.4 to
      Reuter  -  462 words
    • Article
      Lock icon Bangkok
      166 7 Reuter THE SECURITIES Exchange of Thailand Index lost 5.58 points to 280.34 on a turnover of 3,074,380 shares worth 230.94 million baht. Reuter NOV lAMT Ao Kham Thai Ayudhya tnvaatmant 342 -16 Bangkok Agro-lnd •8.90 -3.9 Bangkok Bank 308 -4 Bank Of Ayudhya 300 -2 Charoong Thai Wira A
      Reuter  -  166 words
    • Article
      Taipei
      288 7 MOV MT All Sincere Indus Asia Cement Cathay Con* Chang Hwa Bank Cheng Loong Chia Hsin Cement Chin Hain Flour China Chem China Oev China Elect Wire. China Gulf Plas China Rebar China Steel Chung Hwa Pulp Chung Shing Tex. Far Eaat Dept Far Eaat Te* First Bank Formoaa
      288 words
    • Article
      Manila
      89 7 NOV 20 PESOS Acoi« Mining Anglo Phil Apt* Mining 8 AtlM Con B 0 038 26 25 *0 002 1 75 Baguio Gold Basic P*trol*um B«ngu«t Con B First Phil Hldgs Lcoanto B 0014 8 40 0 50 unch 05 *003 Marcoppar 1 -0 04 Marmtaal Oriental B Phil
      89 words
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      Page 6 Advertisements Column 1
      916 6 MHHHBHMMHBHRH SWii M lIT iT, srg s 1 > SSSSS»I». Our special Thai Shrtf cuisine is the taikJr sFi n You can now ha* townfare at our elegant Theatre RestaJraJt °<*1Braised Shark' s FV c Crabmeat, Spicy Combination arvj many more. jf? 5 Plaza Hotel Beach Road Sngapore 0719 ENJOY
      916 words
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      Page 6 Advertisements Column 2
      89 6 Tel: 737 4411 /\iranhHjnt //<'to! Sfj 7w m SS2 m Mate waves at the Para Wave Disco... dMICt every Sat Sun Bgg*a 3pm 7pm $4.00 nett per drink Level 4, Paramount Hotel, Marine Parade Road, Singapore 1544 Tel: 344-5577 Sichuan specialities prepared with consummate skill. I unch 12 noon 2.30
      89 words
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      233 7 w. m m is /n > m i at tbSeTasual Club CeJeferate yourlirtibda^.. Friendly. Familiar Fun l At the Casual Club, for 10 per person, you enjoy a great birthday package that includes:- Complimentary first drink for all guests A complimentary bottle of champagne for parties of 10 persons and
      233 words
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      Page 7 Advertisements Column 2
      221 7 t Iff >1} sz€Ci>a rh COURT A Free Plate of Sauteed Prawns. Enjoy our house specialties of Smoked Duck, Hot and Sour Soup and Prawns with Dried Red Chillies. And when you have a party of 3 for lunch, this coupon entitles you to a plate of sauteed prawns in
      221 words
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  • LETTERS TO THE EDITOR
    • Article
      The class is dismissed
      464 8 IN ONE OF THOSE incredible twists of historical logic, Britain's Conservative government is determined to accomplish what Marxist regimes the world over have despaired of doing: the creation of a classless society. Without a whiff of angry gunsmoke in the air, Britain will in 1991 turn
      464 words
    • Article, Illustration
      The price van Gogh paid for his paintings
      477 8  -  B M ORTEGA Dear Sir How supremely ironic and terribly sad! Vincent van Gogh's Irises sold for U5553.9 million (BT, Nov 13). That makes two van Gogh paintings auctioned for U*****.7 million this year. Once again, the lead in the news release
      477 words
    • Article
      Bonvests urged to call off purchase of property
      1454 8 Dear Sir Despite the psychotic collapse of the local and international stock markets and the consequent flight to quality and liquidity, the board of directors of Bonvests Holdings Ltd has persisted in going ahead with its proposed acquisition of the Anderson Road
      1,454 words
    • Article
      Telecoms will review matter
      64 8  -  DERRICK TAN Corporate Communications Officer Telecoms Dear Sir We refer to the letter "Bouquet and brickbat for Telecoms" by DW Distant (BT, Oct 31-Nov 1, 1987). We thank the writer for his valuable feedback as it brought to light certain shortcomings in our enquiry and application
      64 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      262 8 See ART TRADE. Page 13 You have a business to run, a busy schedule oV <P> &S Z- I SINGAPORE BUSINESS understands your commitment to your work. So, instead of having to go out in the sweltering heat or get held up somewhere in a traffic jam on your way
      262 words
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      Page 8 Advertisements Column 2
      44 8 BT welcome# lettsr® from rsadsrs. Your Isttsrs must includo your signature, full nams, sddrsss, and horns snd offics tslsphons numbers, if any. You may add a pssudonym, if you wish. Addrsss your Isttsrs to: Ths Editor. Businoss Timss, 390, Kim Ssng Road, Singapore 0923.
      44 words
  • Page 8 Miscellaneous
    • Miscellaneous
      Page 8 Miscellaneous Column 1
      803 8 m m m m mm m mum aiiaiiiiii anSna'aiau 11am m I jjiiii ammm a«■■■■■■ ■■■a sanaun aiiumii UHjj jllllll ÜB9BH >»■■■■ mmm CRYPTIC PUZZLE ACROSS 9 A short "Anything but"? (3. 2. 3) 10 Coin a name, so to speak (3) 11 See it returning and hang about (6)
      803 words
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  • Executive Lifestyle
    • Article
      STRAWS in the Wind
      240 9 PAN PACIFIC HOTEL is welcoming the new year with a special offer of $88 a night, from now through the first 88 days of 1988. "If you are not Chinese, you may not appreciate the magic of 88. Ask your Chinese friends. They're sure to smile
      240 words
    • Article
      Cold turkey treatment
      255 9 TRENDS FIVE YEARS AGO this month, a small band of faatharsd American pilgrims landsd in tha culinary frontiar of China •o faca a forbidding environment and a formidable task. Tha plonears, 2,500 California turkeys, had baan brought to carve out an honourad placa at tha dlnnar table
      255 words
    • Article, Illustration
      Hooked on the reel thing
      1630 9  -  By BRIAN MILLER IT STRUCK with all suddenness rudely waking us to the realities of the day and the seriousness of the situation. First a nibble, then a tug followed by a turn that sent the ratchet screaming. It had taken the bait and it
      1,630 words
    • Executive Lifestyle: Entertainment & Pursuits
      • Article, Illustration
        If music be the food of love, toss the Vega
        685 10  -  FOOD By THE FOOD TEAM HYBRID EATING and entertainment concepts have flourished in Singapore, a place it seems where all purists must accept that some established cultural institutions don't transplant too well here in their original form. So, the Shangri-La
        685 words
      • Article, Illustration
        Striking a happy medium
        769 11  -  HEALTH By RICHARD SEAH ON AT KENT RIDGE these few days is a festival called Yin and Yang. The festival is about the arts music, drama, painting, poetry and so on and has little to do with health, except that setting aside time for the arts
        769 words
      • Article, Illustration
        Veiled line between fact and fiction
        725 11  -  BOOKS By CHUANG PECK MING UNTIL A DAY or two before Veil was published, its contents were kept hazy and its title was a big secret. The well-orchestrated publicity exercise was reminiscent of a CIA covert operation. The book was also released just after
        725 words
      • Article
        BILLBOARD
        761 11  -  Compiled by Sakina Dhilawala CINEMA: Jaws The Revenge starring Michael Caine, Mario Van Peebles, Lorraine Gary, Lance Guest and Karen Young. Showing at Lido, Changi, Savoy, President and Woodlands. Willy Mllly starring Paul Schneider and Eric Curry. Showing at Cathay: 11; 1.30; 4; 6.30; 9.15. Some Kind of Wonderful
        761 words
      • Article, Illustration
        When you're in love with a beautiful dummy
        491 11  -  CINEMA By JAIME LYE WHEN YOU'RE a teenager living in the time of the Egyptian pharaohs and your mother wanta you to marry a camel dung dealer, what do you do? No. you don't aak whether he washes his hands after work.
        491 words
      • Article, Illustration
        A feast for the heart from Hughes's teen-angst recipes
        478 11  -  Jaime Lye TAKE A successful formula, put it back in the old grinding machine, crank it up, add a bit of juice and voila! You get the same good brew, but with a different kick that makes you think, "This is
        478 words
      • Article
        Off-beat auction to save lives
        220 11 SHORT TAKES A HARD leather spectacle case came down every few minutes on nine lots of people, goods and services at an unusual auction that raised more than $40,000 for the National Kidney Foundation last week enough to save 12 lives. Mr Laurie Magnus, group
        220 words
    • Executive Lifestyle: Sports
      • Article, Illustration
        Singapore Grand Prix promises thrills and spills
        544 12  -  POWERBOAT RACING By WALTON MORAIS THE WORLD championship is still undecided, the defending race champion is intent on winning,- and the course is one of the best two in the series. In other words, the Singapore Powerboat Grand Prix that will be Nagged
        544 words
      • Article
        Speed freak in pursuit of that dream victory
        536 12  -  By BRIAN MILLER MIKE NEILSEN knows the score. In the light of the opposition he will be facing in tomorrow's Singapore Powerboat Grand Prix, the Australian isn't looking for a win. But don't let this outward show of pessimism distract you from
        536 words
      • Article, Illustration
        Sending clear Signals to partner
        748 12  -  BRIDGE ■r IIIKE THUMBA Signalling In noirump contract Experts say that signalling is the most confusing aspect* of bridge strategy, particularly among the defenders. The main problem which is common around bridge tables is that the so-ccMed "expert" players assuin&that their less expert part-ners-do know
        748 words
      • Article, Illustration
        Lock icon Top form Graf brushes past injured Sukova to enter semi-final
        493 12 TENNIS AFP WORLD number one Steffi Graf stormed into the semi-finals of the US$l-million Virginia Slims Championships at the Madison Square Garden in New York on Thursday after defeating an injured Helena Sukova of Czechoslovakia. Sukova. suffering from a painful
        AFP  -  493 words
      • Article
        There will be no stopping Sinar Suria from scoring
        475 12  -  on TMCK with Brian Miller LAST-START WINNER Sinar Suria looks ready to make it three-off-the-reel and, barring any drastic changes in the state of the track, jockey KC Ng should have an armchair ride when he tackles the Kuala Lumpur 1200
        475 words
      • Article, Illustration
        Lock icon Scotland pulls ahead with fine play from duo
        564 12 Reuter SANDY LYLE and Sam Torrance overcame horrible playing conditions on Thursday to give Scotland a solid lead after 36 holes of the U*****,000 World Cup of golf. Despite strong winds and heavy rain, Lyle shot a three-under-par 69 and Torrance added
        Reuter  -  564 words
      • Article
        Kian Tiong and Swee Wah close in on Nellan
        420 12 GOLF SINGAPORE'S Lim Kian Tiong and Lim Swee Wah stuck together and moved up on leader V Nellan as the M 540,000 Malaysian PGA golf championship moved into its final day. In the third round yesterday (Friday). Kian Tiong and Swee
        420 words
    • Executive Lifestyle: Personal Investment
      • Article
        A new twist to life — assurance for the seriously ill
        603 13  - A new twist to life assurance for the seriously ill LIFE INSURANCE by Ramesh Chandiramani LIFE INSURANCE has always proved useful as a means of providing financial protection and security for the family of the assured person in the event of his premature death. The benefit, as it were, is
        603 words
      • Article
        Lock icon Investors shift focus from high risks to high yields
        693 13 BEann&rs COMER m NYT DAVID PEARL, a New York apparel manufacturer, has been selling some of his stocks since the steep October market decline. "I've decided to redirect my allocation of assets that were geared towards growth into income-oriented securities," he
        NYT  -  693 words
      • Article, Illustration
        Lock icon Lack of leadership
        353 13  -  By RAMESH CHANDIRAMANI BICKERING about precisely how to cut the US budget deficit has not only delayed the much-needed package a precursor to other important economic efforts by America's trading partners it has also cast a pale shadow of fear and nervousness across the world's equity markets.
        Source: Chartamatic  -  353 words
      • Article, Illustration
        Lock icon Spectre that keeps post-Crash gold down
        550 13  -  GOLD By RAMESH CHANOIRAMANI ONE OF THE REASONS for the disappointing performance of gold in the weeks since the global stockmarket crash has been the spectre of central-bank selling. In spite of considerable dollar weakness during the period, gold fell from US$4BO per troy
        Source: CSFS  -  550 words
      • Article, Illustration
        Lock icon Share collapse adds new dimensions to brokers' advertisements
        643 13 WALL STREET NYT THE STOCK MARKET S collapse in mid-October has shaken the confidence of seasoned Wall Street veterans and small investors alike. It also presents financial institutions with a daunting challenge: how to restore investors' faith in the market. Brokerage firms
        NYT  -  643 words
      • Article, Illustration
        Lock icon A market vigorously bullish against all odds
        561 13 ART TRADE IHT BESIDES SETTING A RECORD for the highest amount collected at an auction, Vincent Van Gogh's much-celebrated Irises, which sold for U5553.9 million at a Sotheby's sale last Wednesday, also confirmed two trends. The art market is displaying an extraordinary vigour
        IHT  -  561 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      63 9 FOR A CHANCE TO WIN A a*Ncam MONTH'S FREE J&S6 <KBB ibss WV ifm •V > I* ;W/ f: '-> as vv -r •> v f "V -V 3..7- f. "V k/J '-is? rM4r.~**<r\ f* f .»Y K i f i '<£'.«• Wfjk* V L U-} "JK'V l j J
      63 words
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      Page 9 Advertisements Column 2
      106 9 mmamamummm The Architects of Time t SC** ]L You build on the beauty of an Ebel when you buy it at The Hour Glass. ■The SINGAPORE KUALA LUMPUR Plaza Scxms Centrepoint Peninsula Plaza Singapore Changi Airport Yow Chuan Plaza S ruiivvi #01-21/22 #01-16/19 Departure, Transit Lounge GB/9 Ground Floor Tel
      106 words
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  • Page 10 Miscellaneous
    • Miscellaneous
      Page 10 Miscellaneous Column 1
      2562 10 SIOIS TO WATCH Lemmon, Olivier and Tchaikovsky X REPORTER who makes up a story about a man who will commit suicide on Christmas Eve to protest world conditions has to find such a person when interest in her -fiory grows and a rival paper claims her story is a fake
      2,562 words
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  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      51 11 COLD BEER, HOUSE WINE, SPIRITS, COCKTAILS ESPRESSO, CAPPUCCINNO, SPECIALITY COFFEES, BBQ'D MARINATED RIBS N CHICKEN SPECIALITY KEBABS PASTAS SNACKS UNUSUAL SALADS JACKET POTATOES CASSEROLES SOUP DESSERTS All with homemade sauces and dressings. It's what you want to eat. 11am-Midnight (Fri-Sat lam) at the waterfall 81-35, Forum Galleria, Orchard Road. Tel:
      51 words
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  • Page 13 Advertisements
    • Advertisement
      Page 13 Advertisements Column 1
      28 13 BT welcomes investment ideas and viewpoints from brokers, bankers and other readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, S'pore 0923.
      28 words
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  • STOCK EXCHANGE OF SINGAPORE
    • Article, Illustration
      Market drifts lower on bouts of stop-loss selling
      4279 14 SHARE PRICES in Singapore closed generally mixed on thin volume as trading drifted owing to the lack of buyers and sporadic bouts of stop-loss selling. Turnover shrank even lower to a miserable 15 million shares worth $32.2 million compared with Thursday s
      4,279 words
    • Article
      Chief price changes
      217 14 SINGAPORE Rises "TS?!. n. x Ming Court MO WC.ap.rt. 732-74 72*46 SO* 110 1* KO*/OS -24 -10* Motro HMgt 600 1J W CADI -6*34 -**74 CoM Star. lOp 418 IT 10-6oy MA -6*43 -6*5* M lanktog 410 BOW 1 1 104*5 10****2 Shongri-lo 3*3 tlMM *2*43 I24J7
      217 words
    • Article
      Business done on the SES
      3110 14 BID mad offer prices officially listed aad business In aad reported to the Stock Exchange at Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified. SECTION ONE MOOS TRIAL COMMERCIAL Aemo 11.21 B 122 SI
      3,110 words
    • Article
      COMPANY MEETINGS
      392 14 KEMAYAN OIL PALM Bhd: 22nd AGM at 5E Foh Chong Building, 66 Jalan Ibrahim, ***** Johore Bahru. today. Nov 21. at noon. AUSTRAL AMALGAMATED TIN Berhad: 48th AGM at the PNB Theatrette, 2nd Floor, Menara PNB, 201A, Jalan Tun Razak, ***** Kuala Lumpur on Monday. Nov 23. at
      392 words
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  • COMPANY NEWS
    • Article, Illustration
      Lock icon Convenient partnership
      468 15 mm stfoscu HOCK LOCK SIEW HONGKONG'S largest bank, theHongkong and Shanghai Banking Corporation, is probably as British as any British bank. But in the United Kingdom, Hongkongßank, as it is popularly known, is just another foreign bank. So when HongkongBank announced that it had bought a 14.9 per
      HOCK LOCK SIEW  -  468 words
    • Article
      KL shares finish slightly lower
      3007 15 THE KUALA LUMPUR stock market saw another day of lethargic trading yesterday as market operators kept to the sidelines in the absence of fresh factors. Prices fluctuated within narrow margins and finished slightly lower. Reflecting the softer sentiment, the New Straits Times Industrial Index fell
      3,007 words
    • Article
      Metal Box interim profit drops 46pc
      458 15  -  By LISA LEE METAL BOX Singapore Ltd (MBS), which recently announced a $101 million expansion and upgrading programme, is enjoying a boom in the can business but this is not reflected in its latest interim results. The company said in its interim statement yesterday
      458 words
    • Article
      Lock icon KL exchange ticks off Innovest
      93 15 Bernama ES INNOVEST BHD has been asked to comply strictly with Section 103 of the listing requirements of the Kuala Lumpur Stock Exchange. KLSE chairman Nik Mohamed Din said in a statement yesterday that Innovest and its registrar had been cautioned by the KLSE listing
      Bernama ES  -  93 words
    • Article
      Lock icon Setron may postpone plan
      249 15 Bernama ES SETRON BHD's proposed plan involving Ms3o million investment to manufacture micro-wave ovens at the end of next year is likely to be postponed if there is an economic recession in the US. chairman Mohamad Ibrahim Zain said "The project will have to be postponed
      Bernama ES  -  249 words
    • Article
      Selected indices
      2 15
      2 words
    • Article
      Unit trusts
      281 15 Managers' prices for Nov 21 23 Singapore Unit Trust Tlw CoMwrc* 088 095 The Savings Fund 077 083 S'por* frog Fund 036 040 S'por* S*c Fund 060 064 S'por* Invest Fund 064 069 S'por* Equity Fund 043 048 Asia Unit Trust Mol Invest Fund 120 133 Mai frog
      281 words
    • Article
      Lock icon Kumpulan Emas wins M$20m contract
      246 15 Bernama ES KUMPULAN EMAS Bhd recently secured a Ms2o million contract for a water supply and treatment project in Sandakan. Sabah Speaking after the company's annual general meeting in Kuala Lumpur yesterday, chief executive Lim Fung Chee said the contract included pipe-lay-ing. sewerage and water
      Bernama ES  -  246 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      45 15 Don't Invest you yotjk Until you've read this book. \N pyopvKn Only $9.50 fltbtlsheri hq TIMES (OCXS sfls»'ON«i In the same series: Value and Tax the essential facts Explains annual value and property tax. Avails Me at all good bookshops STP Distributors 77m*s PuMshtng Group
      45 words
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      Page 15 Advertisements Column 2
      534 15 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND SKYHIGH HOLDINGS PTE LTD (Incorporated in the Republic of Singapore) At an Extraordinary General Meeting of members of SKYHIGH HOLDINGS PTE LTD duly convened and held at 190 Middle Road #16-03 Fortune Centre, Singapore 0718 on the 20th November
      534 words
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      Page 15 Advertisements Column 3
      457 15 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND GILTVEST PTE LTD (Incorporated in the Republic of Singapore) At an Extraordinary General Meeting of members of GILTVEST PTE LTD duly convened and held at 190 Middle Road #16-03 Fortune Centre. Singapore 0718 on the 20th November 1987 at 3.30
      457 words
    • Advertisement
      Page 15 Advertisements Column 4
      589 15 IN THE MATTER OF THE COMPANIES ACT,* CHAPTER 50 DEEP-SEA SUPPLIES-* SERVICES (S) PTE LTD VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company deemed to- be held at 36 Robinson Road, #17-00 City House, Singapore 0106, the following special resolution was duly "That the Company be wound up
      589 words
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  • Article
    Small enterprises plan innovation scheme
    448 16  -  Association hopes to give details in a month's time By BOEY KIT YIN IDEAS and venture capital joined together on a factory floor is part of an enterprising scheme soon to be introduced by the Association of Small and Medium-sized Enterprises (ASME) to promote a
    448 words
  • Article
    Lock icon KL financial houses urged to be more active in economy
    169 16 Bernama MALAYSIAN Prime Minister Datuk Seri Dr Mahathir Mohamad yesterday urged financial institutions to play a more important role in stepping up private sector participation in economic activities. Enhancement of the role of the private sector was necessary because it
    Bernama  -  169 words
  • Article, Illustration
    Malaysia unconditionally releases 11 detainees
    309 16 THE MALAYSIAN government yesterday released unconditionally 11 of the 106 people detained under the Internal Security Act and announced some relaxations on the ban on political rallies which it imposed with its security crackdown beginning Oct 27. The two steps are seen as a demonstration
    309 words
  • Article
    Lock icon Big debt provisions dent Westpac's earnings
    326 16 AFP WESTPAC BANKING Corp, Australia's biggest bank, said on Thursday that its profit rose less than one per cent in the year to September due to significant transfers to cover debts to rescheduling countries. But the bank's plans for Asia remain unchanged, despite exposure
    AFP  -  326 words
  • Article
    Lock icon US optimistic about keeping Philippine bases
    300 16 AFP AMERICA is confident of keeping its Philippine military bases beyond 1991, the US Pacific military chief said in Manila yesterday. "I'm truly optimistic, based on what I see, the discussions that I've had, that our governments will be able to arrive at an
    AFP  -  300 words
  • Article
    Lock icon Asean summit to leave out US bases
    148 16 AP THE ASEAN steering committee has decided not to make an issue of US bases in the Philippines, according to sources at a threeday meeting to prepare for a regional summit. The meeting ended yesterday in Bali. Nana Sutresna. director general for political
    AP  -  148 words
  • Article
    Lock icon Lopez family gets control of Manila's fourth largest bank
    212 16 AFP Reuter A PHILIPPINE group has outbid a Hongkong rival to acquire control of the Philippine Commercial and Industrial Bank, the country's fourth-largest bank, for US$65 million, it was announced in Manila on Thursdav The group, led by the Philippine Lopez
    AFP; Reuter  -  212 words
  • Article
    Lock icon India announces ceasefire as Tamils step up attacks
    316 16 Reuter INDIA announced a 48-hour unilateral ceasefire in Sri Lanka yesterday as Tamil fighters launched a series of attacks in the north and east after releasing 18 captured Indian soldiers. Indian Minister of State for External Affairs, K Natwar Singh, told Parliament
    Reuter  -  316 words
  • Article
    Lock icon Comex gold and silver
    102 16 Reuter GOLD FUTURES in New York held small gains on buying by foreign traders following the dollar's tumble yesterday morning on frustration over the absence of a US budget agreement. December gold was up US$l.OO at U*****.80 an ounce after edging to a high of U*****.80.
    Reuter  -  102 words
  • LATE FILE
    • Article
      Lock icon Goria seeks vote of confidence
      36 16 AP ITALIAN Premier Giovanni Goria yesterday asked Parliament for a vote of confidence on his revival of the five-party coalition that collapsed a week ago in an economic policy dispute. AP
      AP  -  36 words
    • Article
      Lock icon Air raid on tugboat
      40 16 AFP ONE Filipino seamen was killed and five injured in an air raid on a Singapore-reg-istered tugboat, the Salviva, south of Iran's main oil terminal off Kharg Island, regional shipping sources in Manama said yesterday. AFP
      AFP  -  40 words
    • Article
      Lock icon Foreign observers at Seoul poll
      40 16 UPI THE South Korean government yesterday agreed to let foreign observers witness next month's presidential election, but will not give them official status or special access to monitor the first popular election in 16 years.
      UPI  -  40 words
    • Article
      Lock icon Nepal officials begin inquiry
      30 16 AFP ROYAL Nepal Airline* officials left for Calcutta yesterday to find out why Indian customs authorities detained and searched Gurkha soldiers and confiscated their gold. AFP
      AFP  -  30 words
  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      230 16 <_:_.%*%:<^^;]!.+]`%|)>.'%@*/]: TECHNIQUES D4/NT-G43DE SWISS MADE SINCE 1860 VG y ■■rm' air Jfm r y(■ V X a** jJ 4o2m%f' y r 4%-' i' #'Vj r ,^y- —^<rsr »V, r ST 1/ A > Ala W-.r >- The only watch you'd wear when yon decide to grab life by the wrist,
      230 words