The Business Times, 22 July 2003
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2003-07-22
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The Business Times
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Title Section15 2003-07-22 1 THE BUSINESS TIMES MfTA (PHJ2MK3/2003 I Internet: http://business-times.asial com.sg SINGAPORE TUESDAY, JULY 22. 2003 85C15 words
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Article, Illustration560 2003-07-22 1 Wong Wei Kong - Even when STI hit all-time high in 2000, less than half made money By Wong Wei Kong [SINGAPORE] It's not what the experts will tell you, but on the strength of current evidence, most Singaporeans seem better off leaving their moneySource: Bloomberg - 560 words
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Article, Illustration419 2003-07-22 1 R Sivanithy - 200 m units traded despite curbs, hat share price plunges By R Sivanithy [SINGAPORE] Interra Resources, which has been the subject of massive speculative activity since it was listed last week on Sesdaq, yesterday collapsed 13 per cent afterSource: Bloomberg - 419 words
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Article72 2003-07-22 1 □«l 1,870.79 (-10.17) «T INDEX FUTURES 1*875.00 (-1.00) SMBSCI FUTURES 104.00 (-0.90) Monday Change K LSE COM P 719.66 >3.14 NIKKEI 225 Closed HANG SENtl _10.102.86 47.98 SET INDEX 487.44 -5.60 JAKARTA COMP-520.91 -4.59 MANILA COMP _l.300.87 +15.88 TAIPEI WPI 5,219.30 -68.08 SEOUL COMP 693.50 5.85 SHENZHEN B 230.1972 words
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Article78 2003-07-22 1 FOREX RATES us$ s$ ISS (SS per l.'SS) 1.758 «t(l 'SS/SS per S) 1587 1790 ETRO(TS$/S$/E). 1.126 1.981 YEN 118.5 6740 RM 3.800 1161 HK$ 7.799 4.4:16 BAHT 41.70 23.72 Rl'PIAH 8315 4.729 RENMINBI 8.299 4.720 INDIAN RUPEE 4418 25.19 AS 1546 0.879 N'ZS 1.748 0.994 PRIME RATES SINGAPORE*78 words
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Article, Illustration760 2003-07-22 1 Genevieve Cua - Their assets grow while global wealth dives US$L9t By Genevieve Cua [SINGAPORE] The world's billionaires and millionaires lost US$l.9 trillion (553.3 trillion) in wealth in 2002, but Asia's wealthy bucked the slide with a 5.3 per cent growth in assets to US$l.39 trillion. Where760 words
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Page 1 Advertisements
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Advertisement144 2003-07-22 1 INSIDE WiU the US FTA spark next round of bank M&Asin Singapore? Angela Tan, Pg 2 LATEST US DATA Key US leading indicator rose 0.1% in June Pg2 SIA axes 26 pilots, 156 cabin crew Pg3 ENTERPRISE US guru on how Singapore can go about supporting successful entrepreneurs Pg 16144 words
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Advertisement13 2003-07-22 1 Only 35 made profits above CPF interest rate, Pg 10 Hill 8 *****413 words
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Advertisement13 2003-07-22 1 r^jPC^M 11 «1(i Tfr 1 r 1 'iT mII *v^e m W. jfl13 words
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901 2003-07-22 2 angela tan - angela tan IT'S been more than two years since Singapore saw its five local banks become three. Now, with most of the integration work almost completed, coupled with the attractive bank valuations for potential acquirers, market whispers are901 words
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ON THE grapevine
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Article93 2003-07-22 2 AT a global forum organised by JP Morgan private bank for clients in London last year, it asked parents to respond "true" or "false" to two statements: "1 communicate my estate plans to my children", and "I help my children with their career planning." The parents unanimously93 words
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Article107 2003-07-22 2 BAKER McKenzie.Wong Leow said Paul Elliot has rejoined the firm heading its banking and finance unit and major projects practice. Mr Elliot was previously with the firm in 1999-2000. Before that, he was a partner in the Hong Kong office of Baker McKenzie for107 words
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436 2003-07-22 2 Vince Chong - Andree Halim granted options to bny 55.4% stake in QAFfor $9&2 m By Vince Chong [SINGAPORE] Minority shareholders of Singaporelisted food group QAF may be looking at a general offer for their shares at a price of 50 cents a share at436 words
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605 2003-07-22 2 LATEST US DATA OJ% rise in the index suggests economy picking np in the second half Reuters Bloomberg [NEW YORK] A key US economic forecasting gauge rose in June for the third consecutive month, suggesting the economy should pick up inReuters; Bloomberg - 605 words
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Page 2 Advertisements
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Advertisement77 2003-07-22 2 Missed that BT exclusive? Log on to BT Online and check out our archived news exclusives and columns. This value-added service is free to BT newspaper subscribers. For others, it will be a premium subscription service from 4am to 2pm. Call 6388-3838 for details or go to http://business-times.asial.com.sg Bahamas Belize77 words
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SINGAPORE companies
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250 2003-07-22 3 Tang Weng Fai - By Tang Weng Fai SINGAPORE Airlines has given USbased Citigroup Inc and DBS Bank the mandate to arrange up to $1 billion of medium-term bonds for the airline. An SIA spokesman said that the timing and size of the first issue of250 words
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Article, Illustration686 2003-07-22 3 Ven Sreenivasan - Retrenchment conies on heels of deal with unions on pay cuts, leave By Ven Sreenivasan SINGAPORE Airlines is axing 26 pilots and 156 cabin crew the first time in its 56-year history that it has axed pilots. The move comes just weeks after theFILE PHOTO - 686 words
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518 2003-07-22 3 Wong Wei Kong - HK franchise seen as a core subsidiary of DBS Group By' Wong Wei Kong EVEN as it marked the formal completion of the consolidation of its Hong Kong operations, DBS Group Holdings has received the thumbs-up from international credit rating agencies Standard518 words
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COMPANY Briefs
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Article66 2003-07-22 3 SIM Lian Group Ltd said its wholly owned subsidiary, Sim Uan Construction Co (Pie) Lid, hat been awarded a $74.7 million contract by the Housing 4 Development Board ft** the building and civil engineering works at Geylang Redevelopment Contract 26. The contract is expected to66 words
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87 2003-07-22 3 FUJITSU Asia will develop a Branch Teller Solution for mainboard-listed Hong Leong Finance (HLF) at an estimated cost of $3 million. The project is put of HLF*s corporate strategy to reach customers in a more efficient way. Fujitsu Asia will provide HLF with complete branch87 words
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62 2003-07-22 3 WEE Cho Yaw's UOB Radanasin Bank has reported a slight increase in non-performing loans (NPLs), which stood at 1.38 billion baht(SssB million) or 2.75 per cent of its total tending portfolio at the end of June. At the end of March, it was62 words
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293 2003-07-22 4 Genevieve Cua - It's giving up to 80% off for investments of at least $100,000 By Genevieve Cua ABN Amro yesterday launched a "great Singapore sale" of unit trusts, offering a tiered discount of as much as 80 per cent for investments of at least $100,000.293 words
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513 2003-07-22 4 Daniel Buenas - PwC says these may have led to an understatement of firm's FYO2 loss By Daniel Buenas SESDAQ-LISTED electronics manufacturing services company Startech Electronics has reported possible "material irregularities" in the affairs of its whollyowned subsidiary, Startech Manufacturing Pte Ltd. In an announcement released late513 words
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324 2003-07-22 4 Daniel Buenas - Osim in the pink of health in first half Sars or no Sars By Daniel Buenas OSIM International which markets and distributes healthy-lifestyle products posted a 64 per cent increase in net profit to $10.8 miUion from $6.6 mUlion last year for its half-year ended June 30. Turnover also rose324 words
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Article, Illustration334 2003-07-22 4 Beth Jinks - Jnrong Shipyard to design and build 2 container ships for Taiwan line By Beth Jinks IN A coup for Singapore's shipbuilding industry, SembCorp Marine's Jurong Shipyard has clinched a SllO-million deal to design and build two container ships for Taiwan's Wan Hai Lines. TheFILE PHOTO - 334 words
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Article325 2003-07-22 4 Tay Shi'an - By' Tay Shi'an MAINBOARD-LISTED ornamental fish service provider Qian Hu has been awarded the International Headquarters status by the Economic Development Board (EDB). This allows the company to enjoy a concessionary tax rate of 10 per cent on its qualifying income for a period325 words
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Page 3 Advertisements
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Advertisement448 2003-07-22 3 Seminar on Corporate Reporting Update Do you know.... Since 1 January 2003, there have been major changes to the legislations and accounting standards governing corporate accounting in Singapore. The Statement of Accounting Standards (SAS) have now been replaced by Financial Reporting Standards (FRS) and Singapore companies are required by law448 words
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Advertisement112 2003-07-22 3 wvmm ■IffliHßßS i 1 iH-lfS pB 'Hiffl B I lfl V H| CH |H IB m *i3I^HB mi n vib^^^O Hal '9 ■m i ■Y~ fs3 J I II II MH J| I I I j| I>. a fl VwCilTVvv < >Aa -WW' rilf HH K *m*fr«w nawcord^taS^^ OBQ& yourexpcrier»arfholdfe)gaa)nvenadofLtflMMlnfclpH112 words
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Advertisement302 2003-07-22 4 Thrice as many reasons to plan your seminars with us F I 1 pwS*|lp|rl Jl JEhfifiy Hurry, for a limited period only! Enjoy great rewards when you book our seminar package from 16-20 July 2003,26-31 July 2003, and 8-31 August 2003 (alldates induce). 1. Enjoy special promotional rates* 3. Receive302 words
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Advertisement93 2003-07-22 4 >*■ &'.i .i v v «-;.>•'•'• 'V MA* ItOSIM INTERNATIONAL LTD Results Announcement For First Half Ended 30 June 2003 $■§1 (these figures have not been audited) 90 Jun*2oo3 30 June 2002 change Turnover $133.5 m $104.8 m +27% Operating profit $13.4 m $8.5 m. +58% Operating margin 10.0% 8.1%93 words
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Advertisement273 2003-07-22 5 f > i. i. Deport fir WortdtM umi immuomsna mvuta Bra#-;' Vbf ''4 vv .>&'. V.-' SV*? -.r* u f$ -%r S? v t< v-k cu m »•> <*■ ■*< f < r-sf>7 r -t- v 4 1 v v .4- v 7: c »*:v- r (VKi'ss{ 1 V ■><"273 words
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SINGAPORE markets
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Article, Illustration293 2003-07-22 6 OTHER SINGAPORE INDICES Jul 21 VALUE CLOSE grow 272.00 -463.00 WOW -*****.00 -187.00 «rm«rm -46io9.oo +28.00 <l«Mlw 423.50 -2.28 »r|i«ii1iil 151.21 1.91 WMInfti 1336.68 -12.09 Mf|rfhifti> 394.55 -2.19 SKQMm 194.00 -0.90 Interna 5c 219,464,000 PCO 20c 104.726.000 Reed Grp 5c 41,127,000 HorizonEduc 5c 36.402,000 L&Mlc 30,960,000 Japan Asia 5c 30,001,000293 words
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Article, Illustration270 2003-07-22 6 Ven Sreenivasan - HOT STOCK/ WARRANT Bi Ven Sreenivasan HAVING surged about 20 per cent from its lows, the market is entering a new phase where broad-based liquidi-ty-driven surges could start giving vyay to more selective stock pickings. This is where fundamentals, especially270 words
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Article, Illustration801 2003-07-22 6 r. sivanithy - STOCKS r. sivanithy OPTIMISTS would point out that despite the Straits Times Index having risen 30 per cent in three months, demand still exists for local blue chips as evidenced by the tight trading range shown by the index for most of yesterday's session, before late801 words
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Article, Illustration554 2003-07-22 6 But signs of rebound in US economy should strengthen greenback in longer term AFP [SINGAPORE] The US dollar eased against the yen yesterday after a survey showed US consumer sentiment was weaker than expected but signs of a rebound in the US economy shouldAFP - 554 words
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Article25 2003-07-22 6 UNIT TRUSTS FUNDS IHHt M prkm mm MMm ao* far ui m»iti Hmiuiil| f«ri«rt;Slaw HMc Laarto unltt; Mt Mlv MbdteWon of wMk aNv MxfcvacMA-NonDHlngD^Mnoar MOKSMJIS25 words
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Advertisement300 2003-07-22 7 ISS-EC ly singapore WuC MANAGEMENT PARIS, FRANCE UNIVERSITY Managing Successful Luxury Businesses in Asia. Ip| 1 X* W V f I iWfa^mjdjtF IT One of the most important investments you'll ever make. EnquiriM and applications: Global competition requires new and innovative styles of leadership, based on Office of Executive Education300 words
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SINGAPORE news
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Article, Illustration514 2003-07-22 7 Raju Chellam - The German firm will save 43m euros over seven years under the deal By Raju Chellam GERMANY-BASED Infineon Technologies AG, the world's sixth largest semiconductor company, has signed what could be a mul-ti-million dollar deal to outsource its support operations run on softwareFILE PHOTO - 514 words
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Article, Illustration244 2003-07-22 7 Daniel Buenas - By Daniel Buenas SINGAPORE'S foreign reserves crossed the $150 billion mark in June, according to preliminary statistics released by the Monetary Authority of Singapore. The foreign reserves rose 7.5 per cent to $152.59 billion in June 2003, from $141.98 billion in June 2002. The bulkSource - 244 words
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257 2003-07-22 7 DOUGLAS Foo, a young entrepreneur who has bagged several business awards and is known for his Sakae Sushi chain, is taking his food and beverage chain public. Apex-Pal, which operates restaurants, cafes and kiosks, yesterday lodged its preliminary prospectus with the Monetary Authority257 words
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Article, Illustration111 2003-07-22 7 WORRIED about not finding a place to park at Holland Village? The nightmare is over as a car valet service, which started on July 16, is available from 6pm to lam. The service charges $5 a car for the evening. Usually, one of theARTHUR LEE - 111 words
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634 2003-07-22 8 Kalpana Rashiwala - But developers don't expect sales of existing projects to take nuyor hit By Kalpana Rashiwala THIS year's Hungry Ghost Month, starting next Tuesday (July 29th), is expected to be a quiet period for developer launches not so much because of superstition but634 words
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328 2003-07-22 8 Andrea Tan - By Andrea Tan THE Majestic Hotel, which used to house the grand old Majestic Restaurant in Chinatown, will be put up for auction soon. Also up for grabs is the quaint Mount Emily Hotel in the Mount Sinai area. BT understands that328 words
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Article, Illustration982 2003-07-22 8 Transaction date: Jul 21 MTBRRAME CROSS RATES AS CS M8 Un M* WH mm Vm 9m K* HQ Hkta Hm Hmt IBS Austral* 0.911 1369 0.574 5.041 ***** ***** 0.7*7 7124 2.458 1131 37J* 34.777 1137 4.933 OJM ***** 26.979 0.400 0.647 Cm* 1097 5.892 0.630 1537 ***** *****982 words
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Article1353 2003-07-22 8 SICUM FUTURES Jul 21 HMMHIKMipIM) RSSKScMbAD Clw« Vofaao Opoa Meat* Lw Sitt (twn) Irtamt Aaf 03 177.75 03 ***** 03 *9.75 Nov 03 *8.00 RSS3(UScMis/kQ) Mm Opoo MwtH Mfh Low Sott (tOMM) Mortst Aa103 100.00 100.00 100.00 500 4250 Sop03 *25 7650 Oct 03 95.00 95.00 95J0 350 49501,353 words
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FOCUS property
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822 2003-07-22 9 Kalpana Rashiwala - Listing of Cheung Kong trust a boost to S'pore but there may be other implications, says Kilpuna Rashlwala Kalpana Rashiwala CHEUNG Kong's proposed listing of its Fortune Reit on the Singapore bourse is a feather in the cap for the nascent Reits822 words
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Article, Illustration414 2003-07-22 9 But property consultant says decline should taper off by HI next year Reuters [HONG KONG] Prime office rents in Hong Kong's Central business district are poised to fall another 20 per cent in the next 12 months but should stabilise next yearReuters; AFP - 414 words
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Page 9 Advertisements
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Advertisement116 2003-07-22 9 I SUNTEC M TOWER ONE jflg Entire floor 14,381 sq ft (approx.) Selling with tenancies ®ood yield investment Walk to City Hall MRT Full sea and city views So4e Marketing Agent Commercial 653 I 8669 Hfl^B 6531 8602 IT S OFFICIAL. We're in cahoots. m Announcing a merger? Call 1800-*****22116 words
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Advertisement197 2003-07-22 9 -U- 1 «j k 1 Various sizes up to 14,000 sq ft Instant move-in subject to conditions Allotted parking/Loading in front of unit Tel: 6344 2002 IT r^r— r PAYA ÜBI l!l 53 Übi Avenue 1 industrial park e.#***** BANK'S SALE BY TENDER FACTORY AT WOODLANDS WALK A part 3/part197 words
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Advertisement213 2003-07-22 9 PRIME OFFICE SPACE Effective Sub-Lease Rate A7p? psf mth negotiable Heart of Raffles Place Flexible Sizes from 1,300 28,000 sf Long Sub-lease Term Fitted Out or Bare Units Sole Marketing Agent Commercial 6531 8669 QQ 6531 8672 vss&fc** t *n i v SERANGOON PROPERTIES FOR SALE i A: Strata Units213 words
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EDITORIAL & opinion
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Article, Illustration634 2003-07-22 10 shada islam - mSSSISSjjMnSm OPINION shada islam FRENCH President Jacques Chirac's call on Bastille Day for a temporary softening of the eurozone stability pact has set the scene for another revolution although this time around, if s currencies, rather than heads, that look set to fall Meeting in634 words
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Article129 2003-07-22 10 There is no place in China where you could stop traffic or stop ordinary business activity the way people did there. It shows that we don't really enjoy human rights.' a 24-year-oldfrom Guangzhou, on the meaning of the protests in Hong Kong. 'Big Brother presents rather ignorant129 words
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Article633 2003-07-22 10 EDITORIAL BEIJING has given its unequivocal support to its hand-picked Hong Kong Chief Executive, Tung Chee-hwa, to serve out the remaining four years of his second five-year term. The embattled Mr Tung has also affirmed that he wants to see through his term, vowing to ride633 words
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Article, Illustration1207 2003-07-22 10 William M - Macau's first Las Vegas-style casino will open by next March. Bnt reigning gambling king Stanley Ho is unfazed By William M Bloomberg AT 81, Asian casino billionaire Stanley Ho makes few concessions to age. The father of 17 children the youngest of themBloomberg - 1,207 words
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317 2003-07-22 10 MAIU.TTH The Management Corporation People's Park Complex, Singapore WE refer to the letter "Rise in People's Park Complex fee" by W K Wong (Mailbag, July 2). The letter contains many misleading statements that need clarification. At the annual general meeting on June 28, the variousThe Management Corporation People's Park Complex, Singapore - 317 words
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150 2003-07-22 10 Tan Chui Leng (Mrs - Tan Chui Leng (Mrs) Deputy Director, Investment Schemes Central Provident Fund Board WE refer to the letter "Poor returns from funds" wherein Leong Sze Hian (BT, July 17) asked how investors have fared on a cumulative basis under the CPF Investment Scheme-Ordinary150 words
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REGIONAL news
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Article, Illustration519 2003-07-22 11 Macahe Keliher - FDI is falling and capital is fleeing to China which has upstaged Taiwan in manufacturing From] Macahe Keliher in Taipei WITH foreign investment decreasing rapidly and domestic capital fleeing to China, Taiwan's economy is at a turning point at which it needs to remake itself519 words
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438 2003-07-22 11 BANGKOK Lower funding costs boost earnings but loans powth is weak Bloomberg BANGKOK Bank Pel, Thailand's largest lender, and rival Kasikornbank Pel said second-quarter profit surged on a decline in funding costs and gains on bond holdings. Net income at BangkokBloomberg - 438 words
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253 2003-07-22 11 JAKARTA Transaction could be worth around US$25O-USs3oom Reuters INDONESIA'S second-larg-est phone firm, PT Indosat, said yesterday it expects to strike a deal to sell a fixedline operator in Central Java province to an investor from Hong Kong by theReuters - 253 words
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655 2003-07-22 12 HONGKONG ClRtel Intlhas asked to be repaid 37&2 m euro loan to 36 mobile phone joint venture Bloomberg HUTCHISON Whampoa Ltd, Asia's biggest investor in European high-speed mo-bile-phone services, is seeking a ruling to prevent its Italian partner from recalling a 373.2Bloomberg - 655 words
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Article, Illustration538 2003-07-22 12 Shada Islam - Two top officials are attending Asem meetings in the region this week From Shada Islam in Brussels THE European Union (EU) is sending two of its top political and economic affairs officials to Asia this week in a bid to inject new momentumAFP - 538 words
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331 2003-07-22 12 HONG KONG Reuters TRADING in shares of two Hong Kong telecommunications equipment makers was suspended yesterday as the territory's graft-busting agency investigated allegations of share price rigging, a source familiar with the probe said. The Independent Commission Against Corruption (ICAC) said inReuters - 331 words
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Article, Illustration514 2003-07-22 12 BEIJING Bloomberg CHINA may face new calls to let its currency rise when 25 trade ministers from Europe and Asia meet in its eastern port city of Dalian this week. But domestic economic priorities mean it's unlikely to budge, analysts say. WithBloomberg; AFP - 514 words
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NOTE Book
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Article98 2003-07-22 12 Reuters [KUALA LUMPUR] Malaysian hanking group Commerce Asset-Holding yesterday said it received central bank approval to start talks over the sale of its entire 30 per cent stake in an Islamic banking unit The potential buyer of Commerce's stake in Bank Muamalat Malaysia is BukharyReuters - 98 words
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Article75 2003-07-22 12 AFP [BEIJING] The Industrial and Commercial Bank of China, the country's largest lender, has uncovered five major cases of irregularities, including corruption and loan fraud, thei7s* Century Business Herald newspaper said yesterday. Each case involved more than five million yuan (*****,700) and was discoveredAFP - 75 words
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Article63 2003-07-22 12 Reuters [KUALA LUMPUR] Malaysian motor group DRB-Hicomßhd is close to getting a franchise to distribute General Motors Corp's Chevrolet in Malaysia, the Malaysian Business Times reported yesterday. The newspaper, quoting unnamed industry insiders, said DRB would bring in four new Chevrolet models to mark theReuters - 63 words
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Article61 2003-07-22 12 Reuters [HONG KONG] Phone company PCCW Ltd's main operating unit has agreed to prepay HK$5 billion (Ssl.l billion) in bank debt—its third such early repayment pledge tills month, HSBC said on Sunday. The prepayment of the syndicated loan due in 2008 follows a shareReuters - 61 words
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81 2003-07-22 12 Reuters [HONG KONG] PC shipments in Asia for China's biggest computer maker Legend Group grew 17 per cent in the second quarter, according to data released yesterday. Legend, which sells the vast majority of its computers in China, shipped PCs in Asia duringReuters - 81 words
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88 2003-07-22 12 AFP [NEW DELHI] India has made "impressive progress" in increasing incomes and living standards but needs economic reforms including "serious fiscal adjustment" to stay on the growth path, the World Bank said. Its first India development policy review, India: sustaining reforms, reducing poverty, was postedAFP - 88 words
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Page 11 Advertisements
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Advertisement24 2003-07-22 11 Ti#iiis2- fgfc s i Y V &£&i&-Miti&~*'cill TP iTr >>, >**?;-fe.-^V''?^ fjQ v*s!i'SS HT^H t v ■k MMfe^ v' v VHp ''■■CL Htfe--1 w _A**24 words
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Advertisement114 2003-07-22 11 Expand your Business Initiatives at )lniiii lii\ino\V 17-19 September 2003 Ijri'iisino2003 Suntec Singapore Gprinntj H«nr\ IP jll.ru bpui d <il f JS* Cln i k iint ivivi-v ylirrnsinti com lor niort: dctdtl^^^^ Since Sir Ernest Rutherford spit the atom, New Zealanders have developed a tradition of innovation. We mate it114 words
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Advertisement81 2003-07-22 12 can mlrt you with I structures, sfcolf compsMfaf %jHMlßyfr and tmmipn«<l In jurisdictions hidiNhfS virgin vsiflnus Cayman Islands Bahamas llßurttlui Hongkong T"""" Samoa Full nominee, management, secretarial, banking and corporate administration services are available. We also specialize in offshore trusts for assets protection estate planning. j For further information and81 words
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Advertisement204 2003-07-22 12 IN THE MATTER OF THE COMPANIES ACT. CAP 50 AND IN THE MATTER OF GREAT LAKES DREDGE DOCK COMPANY PTE LTD (IN MEMBERS' VOLUNTARY LtOLHOATKX) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308(1) of the Companies Act. Cap. 50 that the Final Meeting of Members of204 words
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Advertisement274 2003-07-22 12 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF WHATS MUSIC INTERNATIONAL PTE LTD (In Members' Voluntary liquidation) Extracts of the Minutes of an Extraordinary General Meeting of the Company held on the 21st day of luly 2003. SPECIAL RESOLUTION "That the Company he wound274 words
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Advertisement204 2003-07-22 12 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF LOG A TIMBER PRODUCTS (SINGAPORE) PTE. UD. (In Mawbirt' Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant lo Section 308( 1) of the Companies Ad, Cap. SO, thai a Final General Mealing of ifie abovenamed Company wi#204 words
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Advertisement195 2003-07-22 12 IN THE MATTER Of THE COMPANIES ACT, CAP. 90 AND IN THE MATTBt Of JASONS INTERNATIONAL PRIVATE LIMITED (IN MEMAERS' VOLUNTARY LIQUIDATION) FINAL MEETING NOTICE is heieby given pursuant to Section 308 of the Companies Act, Cop 50 thot o find M«itna ofttie Metabers of the ■ho——d Company wJ be195 words
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Advertisement347 2003-07-22 12 MHttH COURT OF THE REPUBLIC OF SINGAPORE Companies Win<4ng Up No. 83 of 2003/ V In ttw Matter of the Comptntet Act, Chapter SO And InthalMNrof SAS CML A BULDMG CONSTRUCTION (IMS) PTE LTD (Ragstraton No *****4167K) NOTICE OF WINDIC UP OHPeH M THE MATTER OF SAS CML A RULDMG347 words
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Advertisement138 2003-07-22 13 Pt\ Cwftmci Podtogei Nitt per person ptr pockoge Berjaya Longkawi Beach Spa Resort, Longkawi Island from SsllB Berjaya Tioman Beach, Golf Spa Resort, Tioman Island from S$ 108 Berjaya Redang Beach Resort, Redang Island from S$ HI Berjaya Redang Spa Resort, Redang Island from S$ 78 Berjaya Georgetown Hotel, Penang138 words
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WORLD news
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Article, Illustration632 2003-07-22 13 JOHANNESBURG Critics say it's so broad a label for non-rich markets that it's nsdass Reuters WHAT do South Africa, Lithuania, Mexico and China have in common? Not much, really. Yet all four are lumped into an economic category known as emerging markets oneReuters; AFP FILFE PHOTO - 632 words
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297 2003-07-22 13 SEOUL Reuters A THREE-COUNTRY study on a proposed project to pipe natural gas from Siberia's giant Kovykta gas field to South Korea and China has put the cost of the plan at US$ll billion. South Korea's Finance Ministry gave the estimateReuters - 297 words
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Article, Illustration425 2003-07-22 14 AFP [WASHINGTON] Social conditions in the US have not improved since 1960, putting the world's only superpower on a par with Poland and Slovenia in the latest edition of an index that measures development in 163 countries. That conclusion was drawnAFP; AFP FILE PHOTO - 425 words
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306 2003-07-22 14 LONDON Reuters BRITISH Prime Minister Tony Blair, who is facing the biggest political crisis of his six-year rule, pledged to cooperate fully as an inquiry was launched yesterday into the suicide of a scientist sucked into a vicious row over Britain's reasons for wagingReuters - 306 words
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259 2003-07-22 14 NEW YORK Reuters AMAZON.COM executives are working with several large book publishers to develop an expansive online archive that would let users search the texts of tens of thousands of books, The New York Times reported yesterday. The plan, being negotiated by AmazonReuters - 259 words
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COMPANY results
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111 2003-07-22 14 Bloomberg [NEW YORK] 3M Co, the maker of Scotch-tape, fibre-optic cable and thousands of other products, said second-quarter profit rose 33 per cent because of lower costs and higher sales. It increased its full-year forecast Net income rose to US$6l9 million, orBloomberg - 111 words
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123 2003-07-22 14 Bloomberg [NEW YORK] Merck Co, the No 2 US drugmaker, said quarterly profit rose 6.6 per cent as the US dollar weakened but lowered sales estimates for its top-selling cholesterol medicine Zocor. Net income increased to US$l.B7 billion, or 83 cents a share, fromBloomberg - 123 words
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84 2003-07-22 14 Bloomberg [NEW YORK] Southwest Airlines Co, the world's largest low-cost carrier, said second-quarter profit more than doubled because of US government aid to help with security costs and as more travellers sought out its bargain fares. Net income rose to US$246 million, or 30Bloomberg - 84 words
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67 2003-07-22 14 Bloomberg [NEW YORK] Lexmark International, the second biggest US maker of computer printers, said second-quarter net income rose 14 per cent as sales of higher-profit printer supplies increased. It said third-quarter profit will miss forecasts. Net income grew to US$lOl.7 million, or 77Bloomberg - 67 words
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Article82 2003-07-22 14 Bloomberg [ZURICH] Drugmaker Novartis AG said second-quarter profit rose 2.3 per cent amid higher sales of its hypertension and leukaemia drugs. Net income rose to US$l.32 billion from US$l.29 billion a year earlier. That's in line with the US$l3l billion analysts' forecast. Sales rose 19Bloomberg - 82 words
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Article110 2003-07-22 14 Bloomberg [LONDON] Eurotunnel pic said its first-half loss narrowed because of an exceptional gain from buying back debt at a discount. The company said it won't meet a goal of making all interest payments in cash this year. The net loss shrank to £17 million (5547.3Bloomberg - 110 words
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572 2003-07-22 15 NEW YORK It earned USs6B9m from investments in Q4 despite the economic downturn Reuters MICROSOFT Corp is sometimes said to have a licence to print money. But the company might find it tougher to deploy its cash hoard of US$49 billion. ReleasingReuters - 572 words
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Article667 2003-07-22 14 Transaction date: Jul 21 Ml Mi m C*mrn MMliM Om Omm •tentt m« MOO MM II nil I« oa 2 mo GO? 0S4 INI 4JK OCX Ml (-G.7W AMD r»W»ll tit (400 «MW out IP 7M0 4* OarlMMXc IM «M HI l|«»i M> OM «tfll o«rn*>nc IJD OJO MM667 words
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Article513 2003-07-22 14 BONDS WARRANTS UN M Cam Ezar 'mk Saar-'SEete C—pmf *m- CWH totta Pita teg left AST1W*****1 73 03 25 1 16 21 230 11 Aona Ltd W*****6 unch 175 1 50 190 7.00 16 Aintefc W*****0 7» -1 75 1 33 1 131 23 Armstrong W*****0 AS -03 579 1513 words
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Article63 2003-07-22 15 UN M Day lattMi Mb Mr fclW MM MCa l— Ciwmi Ml *h cm KM i— tmm M> Cw Hi S3 moo m mmon* uarao 1750 2700 ISDJUSTach US3740 Hi 555 >5 MSG Spore U5S55 1270 (200 IS 54*500 UW70 9650 I2K SPDKS USK50 1410 1230 STIFTHOO 159563 words
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Article1627 2003-07-22 15 LM Vet Day llOMli GrtMo Mr CfVW MM MCa I— Ciwum Mi W- r— MWl I— >W M> Or EH |Si 24 75 ABMHMgilc 213 i«h 1520 22 20.5 21 21.5 41 10 15 AFCNSc 275 -05 1(0 27.5 26.5 26 5 27.5 21 N2j6 iJ iai 241,627 words
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Article317 2003-07-22 15 g-Wk UM Vat Day Laal Qaata MH» Mr (ITH M Km WMi la» C——r w- (W I— I— fc— la— ftr Hi U 1CI r AVJemtngi A25c A147 *2 U WJ Ifl 1# HJ 1 <0 U U )IU Cathay Pac 20c MK720 265 2.1 1A 6 *****2317 words
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Page 15 Miscellaneous
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Miscellaneous203 2003-07-22 15 CRYPTIC CROSSWORD 28 Passed on a message set down in a rush (7) 8 PuM out in time (7) YESTERDAY'S SOLUTION □OWN 14 Most ,00fehl howevef? Across: 1 GuildhaJl, 6 Let-up, 9 16 Examination of litmus? (4,5) Lapland, 10 Inaugural, 11 Tem--1 They indicate the hour, but 17 Dialect around203 words
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FOCUS enterprise
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Article, Illustration840 2003-07-22 16 Daniel Buenas - How can Singapore go about supporting successful entrepreneurship? US guru Thomas Emerson has some answers. He also offers useful tips to budding entrepreneurs. Dantol Bnenas reports Daniel Buenas NOBEL Laureate George Bernard Shaw once said: "The reasonable man adapts himself to the world. The unreasonable man insists840 words
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Article616 2003-07-22 16 THE decision to become an entrepreneur is a bold step, but the devil is not in the leap, but in the landing. There are many uncertainties in becoming an entrepreneur, and the unknown is often daunting enough to keep many at bay. Entrepreneurship guru Thomas616 words
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Page 16 Advertisements
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Advertisement529 2003-07-22 16 ij J the Singapore Elite Jm KS^ I I SINGAPORE 1000 J. a Singapore sme 500 Ranking Awards Recognizing Singapore's Largest Corporations Small and Medium Enterprises (SMEs) based on annual audited financial Ranking Period: 1 April 2002 to 31 March 2003 Closing Date: 30 September 2003 To qualify for ranking,529 words
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Advertisement127 2003-07-22 16 SfcJMw DUm XK Noo«ti Dmutt H ili Special promotional prices of $3 to $6. Not to be missed are Steamed Minced Meat Bun In Superior Stock, Pan-fried Pancake with Long Bean Paste. Crispy Potato Fritters. Bean felly with Peppery Sauce and more. Good lortMC Mm Xln Set Lunch at %21M127 words
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Advertisement25 2003-07-22 16 Spring Court 1 !s~rl| I The Oldest rcsl! Chinese ResUnarwmt im Vv Singapore timce 1929. 74Annfrtrsary Sptdal PEKING PUCK 1 iwttWfam |m lafcfc w^a. j25 words
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Advertisement77 2003-07-22 16 ~1 THE NEPTUNE l~ COIITII Q.UAY FAMILY DINNER CUM SHOW PROMOTION Now till 31 August 2003 Chinese Set Dinner: 7:30 pm -11:30 pm $380.00 nett onwards per table (10 persons) OK $40.00 nett per person Ist Show 8:30 9flo pm 2nd Show 10:00 -10:30 pm(Adu)ts only) Reservations: 6224 3203 Hmk77 words
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SHIPPING TIMES
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Article264 2003-07-22 17 Reuters THE Baltic Dry Index fell 2 points to 2234, the Baltic Capesize Index fell 14 points to 2893, the Baltic Panamax Index rose 1 point to 2292 and the Baltic Handymax Index rose 43 points to *****. Tianronghai (built 2000) *****0dwt delivery Mailiao 10/20 August trip viaReuters - 264 words
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Article238 2003-07-22 17 M 000 Ma *h <m CWT attribution 0.58 -O01 149 CHOfftfwraZ 023 551 286 Cosco Invaatmant —0.35 -(MX ***** FrataM Unkt 0.08 001 1963 GBHoMnas 0.79 0.03 168 Jaya HoMngs 0.41 001 1871 Map* Corp >,00 uneh 1404 K1 Vantura 0.23 -OOI 7422 Kappai T*to 0.93 -0.01 53238 words
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Article, Illustration597 2003-07-22 17 Donald Urquhart - Bates are imw Hearing the peak last seen in late 2000 By Donald Urquhart [SINGAPORE] Reflecting the ongoing recovery in the container shipping industry across the major trade lanes, Neptune Orient Lines said its average freight rates in June surged 29 per cent597 words
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188 2003-07-22 17 Bloomberg [BEIJING] AP MollerMaersk A/S said it agreed with Cosco Pacific, the port arm of China's largest shipping company, and P&O Ports to develop a US$B77 million container terminal, which will be China's largest, in the eastern city of Qingdao. The venture agreement wasBloomberg - 188 words
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194 2003-07-22 17 Bloomberg [HONGKONG] Hutchison Port Holdings, the port operating arm of the world's biggest port company Hutchison Whampoa Ltd, bought a 51 per cent stake in LC Terminal Portuaria de Contenedores SA de CV, its third investment in a Mexican port, the Hong KongbasedBloomberg - 194 words
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322 2003-07-22 17 Beth Jinks - Tng and barge hit on July 10 and crew dropped off in latest in string of attacks By Beth Jinks [SINGAPORE] Armed pirates have hijacked another Singapore-flagged tug and barge in Indonesian waters, in the latest in an alarming spike in violent attacks in322 words
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AIR & LAND transport
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Article203 2003-07-22 18 AP [ATHENS, Greece] Olympic Airways pilots agreed to reduce their work force as part of plans seeking to save Greece's ailing national carrier, officials said. After four months of talks with the government, the pilots' union agreed late last Wednesday to reduce the numberAP - 203 words
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291 2003-07-22 18 AP [FORT LAUDERDALE, Florida] A charter pilot resigned after a videotape surfaced apparently showing him sleeping during a flight from the Bahamas while a co-pilot flew the plane. The man was the captain on a Walker's International flight from Walker's CayAP - 291 words
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Article, Illustration61 2003-07-22 18 [SINSHEIM, Germany] Two heavy duty cranes lift the main section offormer Air France supersonic jet Concorde F-BVFBfrom the low loader on its arrival at its final destination, the technics museum in Sinsheim, southwestern Germany, early on Sunday. After 27 years ofservice, one of Air France's fewAP - 61 words
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Article, Illustration619 2003-07-22 24 Disruption raises fears airline's drive to cut costs fanning workplace unrest Bloomberg Reuters [LONDON] A wildcat strike hit British Airways' Heathrow Airport operations causing delays and the airline's shares to stumble yesterday. Europe's largest airline said passengers at the London airport encounteredBloomberg; Reuters; REUTERS - 619 words
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Article, Illustration253 2003-07-22 24 Bloomberg [DUBAI] British Airways, Europe's largest airline, is among 30 carriers requesting to fly to Baghdad as the US-led authority prepares to open the airport for commercial service in a bid to boost the economy. Bill Dixon, British Airway's manager for IraqBloomberg; AFP - 253 words
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Article, Illustration128 2003-07-22 24 [SINGAPORE] Air ticketing and reservation company, Abacus International recently unveiled a new branding after 15 years in the business, to convey "a strong sense of leadership, energy and the essence of partnership". Reflecting the new positioning is a new logo (right), which Abacus president and128 words
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Article, Illustration335 2003-07-22 24 Increase in Ebitda to As376m from As3l6mayear ago Reuters [SYDNEY! Sydney Airport, the busiest in Australia, fought off sliding international passenger numbers to post a 19 per cent rise in earnings yesterday for 2002/03, one of the gloomi-est-ever years for global aviation. Earnings before interest,Reuters; AP - 335 words
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134 2003-07-22 24 Bloomberg [FRANKFURT] European airlines will post losses of as much as US$2.4 billion in 2003, their fifth consecutive annual loss, as the Iraq war, the spread of a deadly pneumonia and a slowing economy deter people from flying, an industry group said. European airlinesBloomberg - 134 words
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268 2003-07-22 24 AFP [PARIS] Eurotunnel, which operates the tunnel beneath the sea between Britain and France, posted yesterday a sharp reduction in its firsthalf net loss owing to exceptional gains although its underlying loss was little changed. However, it warned that because of the internationalAFP - 268 words
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Article1344 2003-07-22 24 an FUGMT in FIKMT OB $***** «55 $0200* 2M ****** WO 87*23 238 $0220 M20 HI M M*MM* U8T70 22S UHO* 80S U87U 2350 US 820 0TJ8 23B U8TM TO UW7M 0*30 Cfm 2Z» ff Tff WT ffff *'WC «20 $0322 2120 $0212 TO $028 01101,344 words
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SHIPS IN PORT
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Article573 2003-07-22 23 V«lll Voy Mo Berth Arrival Departure JURONG PORT/MULTI-PURPOSE TERMINAL ASIA CEMENT6 449 J23 A/SIDE 22/07 0600 EMPRESS LILY 0403 J24/25 A/SIDE 22/07 1400 ID LEADER 9 J5 A/SIDE 22/07 0600 TG JOHOR18 2310R J15 A/SIDE 22/07 0630 VILLEDMARS N09C J16/17 A/SIDE 22A)7 1300 WELL HONOUR UC145 J22 A/SIDE573 words
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Article141 2003-07-22 23 Aaf 1 China: Founding Chi PLA. A*4 Australia: Picnic Day. V Kingdom: Summer Hoi. An* 12 Thailand: Queen's Birthday. Anf 15 France: Assumption Day. Italy: Assumption Day. S Korea: Liberation Day. Aug 17 Indonesia: Indepen Day. An* 24 UKingdom: Summer Holiday. Anf 31 Malaysia: National Day. Philippines: Nat141 words
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Article813 2003-07-22 23 THIS report, compiled by Cockett Ma rine Oil Ltd, shows price ranges in US dollars instead of single prices Tor a more comprehensive description of the market. Prices shown are based on average sized stem. Market movements are indicated. The Cockett Bunker Price Index change and813 words
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Article410 2003-07-22 23 CartM WO Max 9917 0.6 162 0.06 69 0.06 M17 DwMttv Mat«r KhMm HiMMalrtaa SNo afeow 125 2 0 4 0 0 0 380 Aw 9*5.6 0J 15J 0.05 19 0.02 aim 380 M*i 9911 3.0 173 0.09 57 0.06 marl %»A %M/M WM Mo abow410 words
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Page 17 Advertisements
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Advertisement377 2003-07-22 17 COMPANIES Dubai-based Emirate* AhBw announced nomenclature and other changes to its top management positions to conform more closely to international business B u norms. It includes consolidating present director I and senior general manager titles into Senior Vice Presidents. Emirates chairman Sheikh Ahmed announced changes, effective July 1. which include:377 words
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Advertisement73 2003-07-22 17 rmow iBHi mmgm I T; Singapore ©49 WS V~V wwwjnoUy-nmJooe.com I Get Shanghai'd at Molly's! I ■rr Shipping Industry Night on Tuesdays H "Hoist the Jolly Roger" from spm to Bpm I with Heineken end Tiger at $8.80 a pint H l Free shots and snacks I jj^M For more73 words
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Page 18 Advertisements
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Advertisement635 2003-07-22 18 IMPORT I NORTH AMERICA 11 11 AUSTRALIA/NEW ZEALAND I lUPW SHUTTLE EXPRESS <»SX) [AUSTRALIA ASIA EXPRESS (AAX) I 55 """""ST"""" m vKsa vot sto me a» m "s*" m no Notion Southampton umr mi v/v Pto nbuoto amiak mm oon tyv 14/07 u/t; 22/07 27/07 20/07 ooaawA umt 14/07 03/635 words
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Advertisement430 2003-07-22 18 lin» MrvicM raprwarted by Mamb«sof#«ltegistryof J Memb«oHh. Singapore Shyping Association Assooahon ULY UNE MALI /vissa VOY ETA EU EU A P.KUW6 SfOtE MAIE Mold Carrier 74QA 23/07 25/07 03/08 Princess Lily 0703 03/08 05/08 14/08 Mold Star 541 A 13/08 15/08 24/08 Empress lily 0503 23/08 25/08 04/09 ULY MAWNE430 words
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Page 19 Advertisements
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Advertisement918 2003-07-22 19 J TOUSAfiAXSaVICQ Ivcsa vot Sim uu oai dai hou cm an m. gc Aft mum) n«t n/oy *7/11 ii/m 12/ os 12/— h/m 12/10 11/w is/to »/w mmsum 120E 30/07 m/qo u/m h/u »/oo itm it/i wto nm n/n mama* n« ot/x li7iT ts/ot nm h/m nm vm P/n Sscwuni918 words
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Advertisement1766 2003-07-22 19 §£uMAt S I COSTM SHimNS PTI LTD wunmmm nmm»/u tmmi umus/n I IWIIHIH (NWM) ZJMS > I a»iiwwtoE« ra tn* noouuan «wu#(o/0) mmru imsm/* I I yvmm MMSUS tat»lt/<t I V -»-**!>■■:.»•• 3*^9£gjhg| joHot'soma MOM—I mmmm mum I M tvßn ratwe wUMS I cßsmmtmmmm ibim-mmim hulw-mmim VSI/WOT Kt SN H1,766 words
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Page 20 Advertisements
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Advertisement846 2003-07-22 20 HMNff HYUNDAI MERCHANT MARINE CO., LTD. q no. imyuotom vbm. wi M sw ibi m m\ mm| m Mvpsb vot so» m mi m mmTmT TT ntcmbul sosw ii/w ii/n n/n n/n io/m ntfonwc sis m/n m/n m/n 10/07 tflMfll II4W 14/17 11/ M 11/" IS/* ■omnctm 0141 04/07 OS/07846 words
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Advertisement455 2003-07-22 20 \NN\ WAN HAI LINES TEL *****588 FAX: *****163 INTRODUCING:NEW WEEKLY EXPRESS SERVICE TO: HODEIDAH PORT SUDAN CALLING SIN EVERY THURSDAY TWICE WEEKLY EXPRESS SERVICE TO: JEDDAH CALLING SIN EVERY TUESDAY THURSDAY* For more details, caff HOTLINE: *****388/1800-*****00 huiiphh i 5» SSo mii 5/55 555 IM tt/87 38/87 84/88 84/88 IMA455 words
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Advertisement422 2003-07-22 20 i BSfl n MYANMA ■H FIVE STAR UNE vissa vot sm m m rm hum mm su NT*-AM M7W SU M MALAYSIA: OOIISTEAD SMPPM6 ACOKKS KUL OS-*****M0 fIL OS-317M101 POt 04-*****02 BANK UNE (A wnta W Mifcwr HMr ttlpli |1 NOKTHMOUNO TO EUKOPE V COKUUNBt, ROIO, nuu t HHVYUFTS vissa422 words
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Page 21 Advertisements
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Advertisement966 2003-07-22 21 IVMSB. VOY KHH HKO ISW I PKI I DXI 1 »AI I PMM OK CAM PMO KL SOI SKIT SKIP 27/07 M/ 07 OS/OO 06/0* 13/06 IS/Ot MAN HOtMOZOAN KL 323 39/07 30/07 03/00 03/00 10/03 11/00 13/00 30/00 ■AN TOMAN KL 333 03/00 06/00 09/00 10/00 17/00 13/00 33/00966 words
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Advertisement508 2003-07-22 21 i RSI k UK CONTINENT SERVICE Looting lor EVANGEUSTRIA ROM/ATW/BMN/UK/NAN THOR LOTUS RTM/ATW/BMNAJK/NAN ZEYNEP KIRAN ROM/ATW/BMN/UK/NAN Lo*di Snggwro. E7W. MotoyM. Indonaoio MIDDLE-EAST SERVICE Loading for PAN BRIGHT ADN/HDD/JOH/AQA APJ ANJU DB l/ABU/DOH/BRN/D M M/K WT AYIA MARINA DBl/ABU/DOH/BRN/DMM/KWT LOK RAJESHWARI ADN/H DO/J DH/AQA *Loods Stngopore, E7W Mrto>M. IndonoM USA SERVICE508 words
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Advertisement723 2003-07-22 21 rasa jbh a eh ma m m nu»m gszs uai mzsz_ juul 1111 24/17 M/ 07 -E6U6*6 mm nm ivv -muehi mi izziz SB BCjgaft BSSI J»£7 27/17 -MUIIM IUJ 11/07 MM rnrmtn lmn a/»; t«/07 ncmim 0717 03/ M mm rfiffliii mil 2sziz zsziz. PXIOM IOOIM 30/07 31/>7 ins723 words
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Page 23 Miscellaneous
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Miscellaneous151 2003-07-22 23 m Mfc^-7^3K Kl JNPiW %v is I 3r jfis3HE^ r^sSS? 28 f p jßy >I^SSS^I^IIB, \.\fciii fa > I%L j 1 SI T 21NSSv A w- |ftjk n. \j« I s >s. 0 —y hfx^ N. s^- 1 Issued by Meteorological Service Division,NEA LEGEND: < Thunderstorm Wind speed symbols Showers151 words
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