The Business Times, 31 August 2011

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Microfilm: NL31592
Total Pages: 32
1 34 The Business Times
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  • Title Section
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    24 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg Sfh A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 120/08/2011 Wednesday, August 31, 2011
    24 words
  • Article, Illustration
    Lock icon IMF slashes US, eurozone growth forecasts
    643 1 Reuters NYT [ROME] The International Monetary Fund (IMF) has slashed its growth forecasts for the United States and the eurozone; and said the Federal Reserve and the European Central Bank (ECB) must be ready to ease policy, Italian news agency ANSA reported on Monday.
    Reuters; NYT; AFP  -  643 words
  • Article, Illustration
    Lock icon Banks walk down growth path with young SMEs
    916 1  -  Service guarantees, access to financing, Internet banking all help to make the relationship sweeter By TEH SHI NING [SINGAPORE] Banks are stepping up their efforts to woo young businesses here, drawn by their growth potential in an increasingly competitive banking space for
    FILE PHOTO  -  916 words
  • Article
    Lock icon MARKETS DIGEST
    150 1 BT ONLINE BT print subscribers get free access to BT Online at www.businesstimes.com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Aug 30 Change ST INDEX closed KL COMP closed NIKKEI 225 8,953.90 +102.55 HANG SENG 20,204.17 +339.06 SET INDEX 1,044.97 -10.66 JAKARTA COMP closed MANILA COMP
    150 words
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  • TOP STORIES
    • Article
      Lock icon THREE-MINUTE DIGEST
      558 2 Banks walk down growth path with young SMEs BANKS are stepping up their efforts to woo young businesses, drawn by their growth potential in an increasingly competitive banking space for small and medium enterprises. From access to financing and service guarantees, to corporate cards and online banking, banks
      558 words
    • Article
      Lock icon Cumulative US investments in S’pore top US$100b
      543 2  -  Manufacturing among sectors that figure strongly last year Reports by CHUANG PECK MING [SINGAPORE] While the US government was piling up debts that pushed public finances to the brink, US corporations were reaping big gains overseas last year and reinvesting them outside the
      543 words
    • Article
      Lock icon A US$1.17b chunk flows the other way
      343 2 SINGAPORE companies invested US$1.17 billion in the United States last year, as the US economy was lifting itself from the worst recession in 80 years. This raised Singapore’s stake there to US$21.83 billion, still the third biggest chunk of Asian direct investments sunk
      343 words
    • Article, Illustration
      Lock icon Talk of Temasek among buyers helps boost CCB shares
      590 2 Reuters [HONG KONG] News that Temasek Holdings was among institutions that bought the shares of Hong Kong-listed China Construction Bank Corp offloaded by Bank of America Corp helped CCB shares rise more than 4 per cent yesterday. The knowledge lifted CCB’s
      Reuters; BLOOMBERG  -  590 words
    • Article, Illustration
      Lock icon New Japan PM poised to get a handle on fiscal problems
      688 6  -  Noda has work cut out healing deep division within party that he now heads By in ANTHONY ROWLEY in Tokyo FORMER finance minister Yoshihiko Noda was elevated to prime minister yesterday by the Lower House of Japan’s Parliament, one
      BLOOMBERG  -  688 words
    • Article
      Lock icon Fitch says China may risk yuan debt downgrade
      445 6 AFP [BEIJING] China faces a “better than even chance” of another downgrade to its local currency debt rating due to rising defaults and high inflation following a credit binge, Fitch Ratings said yesterday. Fitch also warned that Chinese policymakers would face a
      AFP  -  445 words
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      346 words
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      47 words
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      122 4/5 Change the game with the all-new lightweight Audi A6 from 27 August to 4 September. Lightness is the new paradigm of luxury. Introducing the all-new Audi A6 a car packed with more than just innovative features, but advanced knowledge in lightweight engineering gained from perennial successes at Le Mans. Featuring
      122 words
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      151 6 DATA J Your Communication Lifeline. Prosper with the world's leading ICT provider. Today, information is everything. It's the core of your business and you can't exist without it. You have to have data in order for your business to thrive. At NTT Communications, we offer seamless connections throughout the world
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  • COMPANY NEWS
    • Article
      Lock icon Baker’s short-term pain
      939 8  -  HOCK LOCK SIEW By JOYCE HOOI NOTHING transforms people into fervent long-term thinkers more quickly than dismal short-term results. For anyone looking to exercise his long-term view muscle, being an investor in Baker Technology would have been a wonderfully sweaty workout. The first six months of the
      939 words
    • Article, Illustration
      Lock icon Sun East, Grand Banks may be placed on SGX watch-list
      316 8  -  By EMILYN YAP SUN East Group and Grand Banks Yachts have become potential new entrants to the Singapore Exchange’s watch-list, after incurring pre-tax losses for the third consecutive financial year. Both companies issued their warnings on Monday. SGX places a
      FILE PHOTO  -  316 words
    • Article
      Lock icon PICTET FUNDS
      292 8 Pictet-Absl Rtn Glo Cons-P EUR 25.08.2011 EUR 100,01 Pictet-Absl Rtn Glo Div-P EUR 25.08.2011 EUR 111,43 Pictet-Asian Equities Ex Japan-P USD 25.08.2011 USD 162,21 Pictet-Asian Local Currency Debt-P USD 25.08.2011 USD 147,29 Pictet-Biotech-P USD 25.0 8.2011 USD 263,39 Pictet-CHF Liquidity-P 25.0 8.2011 CHF 124,22 Pictet-Clean Energy-P USD 25.0
      292 words
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      551 8 s Global Entrepolis Singapore 17- 20 October 2011 Resorts World Sentosa GES BUSINESS LEADERS SUMMIT 2011 Global Trends, Asian Insights POLICY MAKERS V Senator Dato* Sri Idrls Jala Minister n Rime Ministers Office and CEO. Performance Management and Delivery Unit (PEMANDU) Malaysia ML HE Cesar V. Purlslma Secretary of France
      551 words
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      1625 9 A SPECIAL SERIES BROUGHT TO YOU BY SHAREINVESTOR CEO S E R I E S AGlobalProtectorofOil&GasAssets THE globaldemandforoilandgashasrisensteadily over the past decade, supported by the newest technologies. Against this backdrop, oil and gas companies which display growth are more than just the major explorers and extractors. They are the less-known
      1,625 words
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  • SINGAPORE NEWS
    • Article
      Lock icon SIA is No 1 in global airlines ranking
      418 10  -  Changi Airport loses to Hong Kong International Airport to take second place By EMILYN YAP SINGAPORE Airlines (SIA) retained its pole position in a ranking of airlines worldwide this year, according to a survey conducted by online travel magazine Smart- TravelAsia.com. The
      418 words
    • Article, Illustration
      Lock icon Meyer Rd project coming soon
      257 10 HONG Leong Holdings will be holding previews for a new freehold residential project in the East Coast area called The Meyerise in September, with prices starting from $1,400 per square foot (psf). Located at Meyer Road, The Meyerise will have 239 units spread across two
      257 words
    • Article
      Lock icon PUB to hand over waterworks to Johor
      207 10 SINGAPORE will officially hand over waterworks under the 1961 Water Agreement to the Johor state government today. The handover marks the end of the 50-year water agreement between Johor and Singapore’s national water agency PUB. Throughout the agreement’s tenure, the working relationship between
      207 words
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      190 10 FOOD INGREDIENTS ASIA Food ingredients Asia 2011 21 23 September 2011 Queen Sirikit National Convention Center, Bangkok, Thailand OPENING HOURS 21-22 September 2011 10.00-18.00 23 September 2011 10.00-17.00 r Register online today for FREE show catalogue! k Before: 16 Sep THE ONLY DEDICATED FOOD INGREDIENTS EXHIBITION IN THE ASEAN REGION
      190 words
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      19 10 September/October issue out soon! To subscribe ($30 for six issues delivered to your office or home), please call 6388-3838
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  • ECONOMY WATCH
    • Article
      Lock icon Obama may offer tax credits to boost hiring
      616 11 Plan to be unveiled next week aims to create 900,000 jobs at a cost of US$30b Bloomberg [WASHINGTON] The ideas US President Barack Obama is considering for his new jobs agenda could put hundreds of thousands of people back to work, and
      Bloomberg  -  616 words
    • Article
      Lock icon Aussie PM sounds warning on factories
      491 11 Economy is now relying more on mining for growth Bloomberg [CANBERRA] Australian Prime Minister Julia Gillard joined Reserve Bank Governor Glenn Stevens in warning of tough days ahead for the nation’s factory workers, who are losing jobs in an economy relying more on mining
      Bloomberg  -  491 words
    • Article, Illustration
      Lock icon Slowing growth, supply disruptions pose threat to food prices
      593 11 Bloomberg [SINGAPORE] Global food costs will remain elevated because a potential slowdown in economic growth is unlikely to hurt demand and weather-related disruptions to supply could “ratchet up prices”, Olam International Ltd said. Combined global inventories of wheat, corn and rice
      Bloomberg; BLOOMBERG  -  593 words
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      180 11 SALE Book Economy Extra or Business class by 9 September, 2011 Economy Extra round-trip from Singapore to BILLUND$2579 KRISTIANSAN D$2836 STOCKHOLM $2841 Business class round-trip from Singapore to COPENHAGEN$4171 GOTHENBURG$4324 OSLO$4324 and many more destinations. SAS Premium classes benefits Business class check-in Video-Audio on demand at each seat Laptop power
      180 words
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  • INDONESIA
    • Article, Illustration
      Lock icon Indonesia may face more strikes over pay
      766 12 Firms could face protracted pay talks that could affect their operations Reuters [JAKARTA] Recent strikes in Indonesia by gold miners, pilots and supermarket staff over pay signal that workers have started to push for a greater share of profits in a booming economy
      Reuters; REUTERS  -  766 words
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      293 12 pfl t .Jui' 1 JL L.. j »?i fit I f V JERRY LUM Snr Marketing Director, MBA, CES CEA Licence no: R *****6 D I HP: 8288 0098 View: jerrylum.myweb.sg JPMorgan Global Consumer Trends Fund We believe changing consumer trends create unique investment opportunities. JPMorgan Global Consumer Trends Fund
      293 words
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  • GREATER CHINA/INDIA
    • Article
      Lock icon Citic Securities gets China approval for HK listing
      161 13 AFP [SHANGHAI] Citic Securities, China’s biggest broker by market value, has received government approval for a listing in Hong Kong, the company said in a statement yesterday. Government watchdog the China Securities Regulatory Commission will allow the overseas issue of 1.14 billion
      AFP  -  161 words
    • Article
      Lock icon China tycoon trying to buy part of Iceland
      316 13 Real estate investor Huang Nubo plans eco-tourism project AFP [BEIJING] A Chinese tycoon is trying to buy a huge tract of land in Iceland for a US$100 million eco-tour-ism project that will include a golf course, the Financial Times said yesterday. Huang
      AFP  -  316 words
    • Article
      Lock icon India’s 7.7% growth slowest in six quarters
      541 13 Central bank expected to stick to monetary tightening to battle inflation Reuters [NEWDELHI] India’s economy grew 7.7 per cent in the three months through June, its weakest in six quarters, with further sluggishness looming as a spate of interest rate increases, high inflation
      Reuters  -  541 words
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      76 words
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      128 13 Look no further for Singapore’s award-winning CFD trading platform. Trade forex, shares, indices, commodities and more, all from one account on Singapore’s easiest-to-use CFD trading platform.* Our web-based PureDeal platform is fast, secure and reliable, with a core uptime of 99.8% or above since January 2010. Includes Singapore’s best charting
      128 words
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  • WORLD
    • Article, Illustration
      Lock icon Aussie regulator objects to plan splitting Telstra
      575 14 Move delays govt plan for national high-speed broadband network Reuters [MELBOURNE] Australia’s competition regulator objected to the terms of the proposed split of dominant phone company Telstra Corp, threatening to delay an historic reform designed to wire up the entire nation to high-speed
      Reuters; AFP  -  575 words
    • Article
      Lock icon Strauss-Kahn bids farewell to IMF staff
      349 14 He apologises for the impact of his legal issues Bloomberg [WASHINGTON] Dominique Strauss-Kahn, the former head of the International Monetary Fund, met with his successor and bid an emotional farewell to IMF staff during his first visit to the agency since his resignation in
      Bloomberg  -  349 words
    • Article
      Lock icon Banks rapped over level of Greek writedowns
      323 14 Bloomberg [BRUSSELS] Some European banks haven’t sufficiently written down the value of Greek government bonds and other “distressed sovereign debt” they own, the organisation that sets accounting rules in the region said. Banks and other financial institutions are valuing these bond holdings in
      Bloomberg  -  323 words
    • Article
      Lock icon Macarthur Coal bows to raised Peabody, Arcelor Mittal bid
      581 15 The Australian coal miner caved in at A$4.9b, after a rival bidder failed to emerge Reuters [MELBOURNE] Peabody Energy and Arcelor Mittal have won over Macarthur Coal with a sweetened A$4.9 billion (S$6.3 billion) takeover offer, after a rival bidder failed
      Reuters  -  581 words
    • Article
      Lock icon NZ doubles quake insurance cost to NZ$7.1b
      208 15 Bloomberg [WELLINGTON] New Zealand’s government more than doubled insurance estimates for the Christchurch earthquakes after reported wreckage of houses and land was worse than previously calculated. The Earthquake Commission, the state-owned insurer, increased its estimated liability to NZ$7.1 billion (S 7.2 billion) from
      Bloomberg  -  208 words
    • Article, Illustration
      Lock icon SNAZZY LEGWORK
      93 15 [LONDON] Crowds watching a performer in the street parade at the annual Notting Hill Carnival in central London on Monday. Revellers flocked to west London for one of Europe’s biggest street parties, with record numbers of police on duty to prevent a repetition of riots that shook the
      REUTERS  -  93 words
    • Article
      Lock icon HP exec says PC business to stay world No 1
      459 15 Business spin-off to give ‘best value’ to shareholders Reuters [BEIJING] Hewlett-Packard Co’s (HP) personal computer business will retain its position as the world’s largest PC manufacturer even after any spin-off, the head of HP’s PC business said yesterday. A spin-off
      Reuters  -  459 words
    • Article
      Lock icon Aussie property market set for big deals, says CBRE
      358 15 Q2 investments up to US$2.1 b or 24% of Asia-Pac sales Reuters [SYDNEY] Australia is expected to remain the most active property investment market in the Asia-Pacific for the rest of the year as offshore investors seek quality assets in a
      Reuters  -  358 words
    • Article, Illustration
      Lock icon FDIC objects to BOA’s mortgage bond deal
      518 16 US$8.5b deal with investors aims to resolve claims over Countrywide bonds Bloomberg [NEW YORK] The Federal Deposit Insurance Corp filed an objection to Bank of America Corp’s proposed US$8.5 billion mortgage bond settlement with investors, joining investors and states that are challenging the
      Bloomberg; AP  -  518 words
    • Article
      Lock icon Fitch settles Calpers’ suit over investment ratings
      453 16 Bloomberg Reuters [SAN FRANCISCO] Fitch Ratings settled a lawsuit in which the largest US public pension fund alleged that Fitch and other credit ratings agencies assigned unreasonably high ratings to special investment vehicles that later collapsed, according to a court document. The California
      Bloomberg; Reuters  -  453 words
    • Article, Illustration
      Lock icon Firms slowly returning to high-end hotels
      843 17 But they take care to see conferences, travel don’t seem frivolous or lavish NYT [NEW YORK] Two years ago, corporations clamped down on employee travel and cancelled meetings in droves. The chilling effect was most pronounced at luxury hotels, which were eschewed entirely by
      NYT; PHOTO; BLOOMBERG  -  843 words
    • Article
      Lock icon Pimco rues betting against US debt
      538 21 Dumping Treasuries hits performance of Total Return Fund, says Pimco’s Gross Reuters [NEW YORK] Bill Gross, the managerof the world’s largest bond fund, feels like “crying in his beer” for having bet so heavily against US government-related debt earlier this year, the Financial Times
      Reuters  -  538 words
    • Article
      Lock icon Maple pushing ahead with TMX bid
      382 21 Reuters Bloomberg [TORONTO] Maple Group said that its plan to acquire TMX Group is on track, despite a retreating share price for the Toronto Stock Exchange operator. The group of Canadian financial institutions said on Monday that it is working with regulators, management and
      Reuters; Bloomberg  -  382 words
    • Article, Illustration
      Lock icon Sino-Forest investors face further uncertainty
      604 21 Reuters [TORONTO] Sino-Forest, once the biggest forestry company on the Toronto Stock Exchange, is running out of room to manoeuvre, after its credit rating was further downgraded amid fraud allegations, a stock trade halt and the departure of its CEO. And it may be a
      Reuters; BLOOMBERG  -  604 words
    • Article, Illustration
      Lock icon US consumer confidence hits 2-year low
      452 22 Budget battle, S&P downgrade, recession fears take their toll LATEST US DATA AFP [NEW YORK] US consumer confidence crumbled in August to its lowest level in more than two years as the fallout from political wrangling over a budget deal took its toll, according
      AFP; BLOOMBERG  -  452 words
    • Article
      Lock icon Melbourne named world’s most liveable city
      357 22 AFP [SYDNEY] Melbourne has edged out long-time frontrunner Vancouver to be rated the world’s most liveable city, a worldwide survey from the Economist Intelligence Unit said yesterday. The Australian metropolis topped the Global Liveability Survey’s ranking of 140 cities worldwide, ahead of Canada’s Vancouver
      AFP  -  357 words
    • Article
      Lock icon Rebels give Gaddafi loyalist cities Saturday deadline
      314 22 AFP Reuters [BENGHAZI, Libya] Rebels in Libya yesterday issued a Saturday deadline for cities still held by forces loyal to fallen leader Muammar Gaddafi to throw in the towel or face a military onslaught. National Transitional Council (NTC) chief Mustafa Abdel Jalil told
      AFP; Reuters  -  314 words
    • Article
      Lock icon Business, consumer sentiment darken in Europe
      328 22 This reinforces fears region will slow in months ahead AP [FRANKFURT] Business and consumer sentiment in the 17 countries that use the euro fell in August, reinforcing fears that the region’s economy will slow in the months ahead as political leaders struggle to contain
      AP  -  328 words
    • Article
      Lock icon Lehman seeks creditor vote on payout
      335 22 Reuters [NEW YORK] Lehman Brothers Holdings Inc was set to ask a bankruptcy judge yesterday to let creditors vote on its US$65 billion payout plan, a key step toward ending the biggest bankruptcy in US history. The investment bank, under Chapter 11 bankruptcy protection
      Reuters  -  335 words
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      131 words
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      334 16 H Wine, Dine Hospitality Highlights 1 7 tJf Hong Kong-Style Mooncake (4 pes per box) Double Yolk White Lotus $46 •'i Single Egg Yolk White Lotus $43 3£ Golden Corn Egg Yolk White Lotus $43 •}§)$-rfr-LS-'f- (>f:) Signature Assorted Mixed Nuts (Veg.) $43 ©tSSiJttfPSrnR*, frJpttm©) New Flavour Recommendation, First in
      334 words
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      144 17 ExpressionsofInterestaresoughtforthesaleofBordersretailbusinesslocated at 80 Marine Parade Road #B-155 Parkway Parade Singapore *****9. Parties interested in purchasing the retail business should register their interest by Friday, 2 September 2011 with: Tim Reid Interim Judicial Manager Borders Pte Ltd c/o Ferrier Hodgson No. 8 Robinson Road #12-00 ASO Building Singapore *****4 Tel: +65
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      432 17 People Strategies for Asia Capitalising on Asia’s Growth Engines Resorts World Sentosa, Singapore, 28 29 September 2011 The Singapore Human Capital Summit 2011 is your opportunity to discover emerging human capital trends that facilitate growth and success for businesses in Asia. As the ultimate networking forum, delegates can look forward
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      417 18/19 OCEAN FINANCIAL CENTRE A NEW BUSINESS ERA HAS BEGUN Keppel Land 'jr. fM N,if |t v V# -c f 4> SiBLi.j Ik f in ft is iiiibi: ji ajr■ .a aafl Bin HUI a a■a t iUSLQBB JIBIII ia Qiitil. .tbbbb* IB IIBBBBti -II iiiiiiiiini* 1 1 mi a naaa
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      335 20 SINGAPORE'S ECO ICON PLATINUM LEVEL LEED-CS PRE-CERTIFICATION Leadership in Energy and Environmental Design (LEED) Green Building Rating System GREEN MARK PLATINUM AWARD Building Construction Authority of Singapore SOLAR PIONEER AWARD Singapore Business Federation, Sustainable Energy Association of Singapore, Economic Development Board and the Energy Market Authority Overall Energy Savings 35.1%
      335 words
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      603 21 MAT3 NOTICES IN THE MATTER OF THE COMPANIES ACT CAP 50 AND IN THE MATTER OF STRAITS TINFIELDS PRIVATE LIMITED (Co. Registration No. *****0053R) NOTICE OF RESOLUTIONS FOR MEMBERS’ VOLUNTARY WINDING-UP (Pursuant to Section 290) At the Extraordinary General Meeting of the members of the above-named Company, duly convened and
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      1395 22 WAT-ci NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg Industrial Government Land Sales: Land Parcel at Lavender Street Kallang Avenue Site Information Location Lavender Street Kallang Avenue (see shaded portion) Land Area 28,348 sqm Tenure 60 years Gross Plot Ratio 3.0 (B1 2.5, White 0.5) Zoning Business 1 White 2.83 HA SC
      1,395 words
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  • COUNTRY PROFILE: KAZAKHSTAN
    • Article, Illustration
      Lock icon Kazakhstan celebrates Constitution Day
      719 23  -  On August 30,1995 the supreme national law was adopted establishing the rules and principles of building Kazakhstan as an independent, sovereign, economically liberal, fledgling democracy. Contributed by' Valerius Reza Boenawan This year is a very significant year in the history of Kazakhstan. As we celebrate twenty
      719 words
    • Article, Illustration
      Lock icon Ambassador speaks
      621 23  -  Kazakhstan welcomes foreign investment and the government is constantly improving regulatory environment to make the country attractive to investors, says Ambassador Baudarbek-Kozhatayev in conversation with Nomita Dhar. Ambassador Baudarbek-Kozhatayev Q: How does Kazakhstan view foreign investments and what are the initiatives being taken by the government to attract
      621 words
    • Article, Illustration
      Lock icon Potental in tourism sector
      489 23 With stunning natural beauty and rich architecture, Kazakhstan offers tremendous potential in the tourism sector. To attract investments the government is offering tax incentives, zero import duties on equipment for leisure sites and construction, and zero property taxes for five years with an option for a
      489 words
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  • EDITORIAL & OPINION
    • Article
      Lock icon Malaysia has much going for it
      491 24 EDITORIAL AS Malaysia celebrates its 54th anniversary of independence today, it is worth noting that while the country has its share of problems relentless politicking and a seeming penchant for divisive racial and religious issues being the most obvious it is doing fairly well
      491 words
    • Article, Illustration
      Lock icon Time for Americans to put economy above politics
      765 24  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE visit by US Vice-President Joe Biden to China, meant to introduce Washington to the next Chinese leader Xi Jinping who will visit
      765 words
    • Article, Illustration
      Lock icon Troubled economy in search of a solution
      996 24  -  Despite what was said at Jackson Hole, markets are still waiting for reassuring messages LEON HADAR Washington Correspondent IN THE aftermath of the decision by Standard Poor’s (S&P) to downgrade the US credit rating, Wall Street has been waiting for Washington whether it’s
      AFP  -  996 words
    • Article, Illustration
      Lock icon Tackling Asean’s inflation bugbear
      1146 25  -  Key tools in use by central banks in the region include interest rates, credit creation and exchange rates By G SIVALINGAM The writer is Visiting Senior Research Fellow, Institute of Southeast Asian Studies (ISEAS), Singapore INFLATION appears to be a problem in many countries across Asia.
      BLOOMBERG FILE PHOTO  -  1,146 words
    • Article, Illustration
      Lock icon Understand Marx to save the world economy
      957 25  -  By GEORGE MAGNUS The writer is senior economic adviser at UBS and author of ‘Uprising: Will Emerging Markets Shape or Shake the World Economy?’ POLICYMAKERS struggling to understand the barrage of financial panics, protests and other ills afflicting the world would do well
      AFP  -  957 words
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  • TransportHUB
    • Article
      Lock icon Learning to live with piracy
      914 26  -  Ship operators have to protect their vessels with armed guards onboard, if necessary STRAIT TALK By DAVID HUGHES IN A DEEPLY disturbing development two weeks ago, a products tanker was hijacked within the limits of the Omani port of Salalah. The 25,400 DWT Fairchem Bogey
      914 words
    • Article, Illustration
      Lock icon High tide for Brazilian yacht market
      537 26 AP [SAO PAULO] Marcio Christiansen reeled off tales of the growing ranks of rich Brazilians who visit his luxury Ferretti yacht showroom. One man paid US$2 million for a ship, he said, after succumbing within 30 minutes to his children’s pleas of “Buy it,
      AP  -  537 words
    • Article
      Lock icon Big ships will help offset slump: Daewoo
      374 26 Bloomberg [SINGAPORE] Daewoo Shipbuilding Marine Engineering Co, working on the world’s largest container ships, said mega-sized vessels’ greater fuel efficiency will let them withstand a slowdown in overall orders. “Large ships will help shipowners reduce costs, creating a new segment that may be
      Bloomberg  -  374 words
    • Article
      Lock icon CMA CGM bullish despite plunge in interim earnings
      563 26 Reuters [PARIS] CMA CGM, the world’s third-largest container shipping group, expects 2011 to be “a positive year” despite a plunge in first-half profit linked to less favourable freight rates than in 2010, the company said on Monday. First-half net profit fell to
      Reuters  -  563 words
    • TRANSPORT HUB: AVIATION
      • Article, Illustration
        Lock icon US airlines scramble to restart after Irene
        653 27 They are bracing for a financial hit from storm-related cancellations Reuters [WASHINGTON] US airlines scrambled to put their operations back together in the US north-east on Monday following Hurricane Irene and braced for a financial hit from extensive storm-related cancellations. By scratching more
        Reuters; AFP  -  653 words
      • Article
        Lock icon China airline rapped in landing row
        694 27 Case raises safety concerns over overcrowded skies AP [SHANGHAI] Aviation authorities have ordered stiff punishment for a local airline whose pilot refused to yield to a Qatar Airways jet requesting to land because it was short of fuel, highlighting growing concerns over safety in
        AP  -  694 words
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        Lock icon Lufthansa optimistic for 2011, says CEO
        355 27 Reuters Bloomberg [FRANKFURT] Lufthansa will not be rushing in to pick up routes cut by smaller rival Air Berlin and is confident it will achieve its targets for 2011, chief executive Christoph Franz said. “For 2011, I confirm we are aiming for a positive
        Reuters; Bloomberg  -  355 words
      • Article
        Lock icon Russia has an image problem at 35,000 feet
        706 27  -  By ANDREW E KRAMER NYT AIRLINES are a cautious lot, slow to trust a new airplane maker with multibillion-dollar orders and passenger lives. It took Embraer, a Brazilian maker of regional jets, two decades to become a major supplier to the industry.
        NYT  -  706 words
      • Article
        Lock icon Ratings agency releases list of world’s safest airlines
        162 27 AFP [GENEVA] Air France-KLM, British Airways and Lufthansa are the safest airlines in Europe, according to a study ranking the “10 safest airlines” by the Air Transport Rating Agency (ATRA) released on Monday. The safest US-based airlines are AMR Corporation, Continental Airlines,
        AFP  -  162 words
    • TRANSPORT HUB: LAND
      • Article, Illustration
        Lock icon GM cuts costs to stay up in China
        472 28 Company is reducing prices of low-cost minivans by as much as 15% Bloomberg contribute volume.” Industry sales of the vehicles nicknamed “bread trucks” for their boxy shape fell more than 10 per cent in the first seven months of this year, according
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      • Article
        Lock icon Most Japanese automakers report weak July production
        332 28 AP [TOKYO] Most Japanese automakers reported lacklustre vehicle production and sales for July, underscoring ongoing malaise in the industry as it grapples with a strong yen, precarious global economy and recovery from the March 11 tsunami. Worldwide production at Toyota Motor Corp fell
        AP  -  332 words
      • Article
        Lock icon ZhengTong Auto to buy dealerships in China
        273 28 It agrees to pay 5.5b yuan for a chain of dealers Bloomberg [NEW YORK] China ZhengTong Auto Services Holdings Ltd, the second-big-gest seller of BMW AG cars in China, agreed to pay 5.5 billion yuan (S$1.04 billion) for a chain of Jaguar, Land
        Bloomberg  -  273 words
      • Article
        Lock icon Crossrail delays award of contract
        262 28 Reuters [LONDON] Crossrail, Europe’s largest infrastructure project, said it had delayed the award of a contract to build 60 train carriages to save costs and allow the British government’s review of public procurement to be taken into account. Crossrail, a £16 billion (S$31.5 billion) project
        Reuters  -  262 words
  • Page 26 Advertisements
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      146 26 “How Beautiful It Would BeTo Have A Head Full Of Hair...” HAIR LOSS MANAGEMENT Hair Transplantation Follicular Unit Transplantation Strip Technique Minimal Discomfort Maximal hair follicle yield growth Minimal hair follicle waste Minimal downtime Male/Female Pattern Hair Loss Analysis Scalp (frontal hairline/crown) Hair Transplant Eyebrow Transplantation Follicular Unit Extraction (FUE)
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      6 26 Driver shortage aheadache fortransport operators Tosubscribe,call6388-3838orgotosphsubscription.com.sg
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  • Page 27 Miscellaneous
    • Miscellaneous
      Lock icon Page 27 Miscellaneous Column 1
      323 27 CRYPTIC CROSSWORD Across 7 Hull bird confronts former rival (7) 8 In Particular a Blyton novel (7) 10 With toasty fare dished up it’s a tempting invitation (4,3,3) 11 Have a strong desire to thumb a lift down the Old Kent Road? (4) 12 Kinky nude lump is a regular
      323 words
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  • Page 28 Advertisements
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      197 28 RISING ABOVE THE COMPETITION WITH ISO 9001 CERTIFICATION m C 7 sr> k V O-v: Our Management Team Activa Media is Proud to Receive International Recognition for Quality Management With an impressive line-up of many firsts and the most recent ISO 9001 Certification, we have affirmed our position as one
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  • SINGAPORE STOCKS
    • Article
      Lock icon UNIT TRUSTS & FUNDS
      10059 29 UNIT TRUSTS FUNDS UNIT TRUSTS APS Asset Mgt Pte Ltd APS Alpha Fund Cl A!** 1.19/ APS Alpha Fund (USD)!** 0.98/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd AXA WM -Talents Fund 0.59/ Aberdeen Asset Mgt Asia Limited American Opp 0.5515/ Asian Credit Fund
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      26 29 Insiders' trades. Brokers' recommendations. Dividend table. The pages also cover transactions by directors and substantial shareholders. In other words, news you can use. THE BUSINESS TIMES
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  • FINANCE & COMMODITIES
    • Article
      Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
      374 30 In local curr In S$ In US$ dy yr dy yr dy yr Aug 29 Index Change Change Change Change Change Change World Index Preliminary 807.1 1.6 -10.1 1.8 -12.9 1.9 -7.4 EAFE Preliminary 671.7 1.2 -16.1 1.8 -16.0 1.9 -10.6 Europe Preliminary 972.8 1.5
      374 words
    • Article
      Lock icon CRUDE OIL & PRODUCTS
      77 30 CRUDE OIL PRODUCTS Aug 29 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 112.49 1.51 WTI (Near Mth) 85.36 0.00 Dubai (1-Mth F) 106.56 0.72 Tapis blend 118.84 0.90 Minas 113.59 0.90 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 105.17 0.17 Jet Kerosene 125.97 3.21 US$/barrel Opec Oil
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    • Article
      Lock icon SICOM FUTURES
      147 30 Aug 29 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Sep 11 466.0 465.0 466.0 32 321 Oct 11 467.0 464.0 467.0 19 366 Nov 11 467.2 374 Dec 11 468.0 504 Jan 12 468.8 330 Feb 12 470.0
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      Lock icon SMX MARKET UPDATE
      104 30 As on 29 August 2011 www.smx.com.sg For membership please contact: Ivan Han, DID +65 9098 8455 membership@smx.com.sg PRODUCT CONTRACT HIGH LOW CLOSE PREV CLOSE PRECIOUS METALS Gold OCT-11 1794.00 1790.30 1792.20 1795.3 CURRENCY US Dollar-Jap Yen SEP-11 76.96 76.59 76.91 76.94 Euro-US Dollar SEP-11 1.4544 1.4471 1.4506
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    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      121 30 As at 9am Aug 29 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.316 1.242 Can dollar 1.249 1.201 Euro 1.775 1.707 Sterling pound 2.004 1.927 NZ dollar 1.04 0.991 US dollar 1.219 1.173 Local dollars to 100 units of foreign
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    • Article
      Lock icon INTERBANK RATES
      154 30 Aug 29 $S Offer Bid 0vernight 0.03 0.02 1-month 3/16 1/16 2-months 3/16 1/16 3-months 1/4 1/8 Overnight mode: 0.02 US$ Offer Bid 7 days 0.30 0.20 1 month 0.45 0.25 2 months 0.50 0.30 3 months 0.55 0.35 6 months 0.70 0.50 9 months 0.85 0.65 12
      154 words
    • Article
      Lock icon CHICAGO BOT
      107 30 Aug 29 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Sep 11 1438.00 1414.75 1438.75 1411.25 Nov 11 1447.00 1423.50 1454.00 1420.25 Jan 12 1456.00 1432.75 1456.50 1429.25 Mar 12 1457.00 1432.50 1465.00 1429.25 SOYBEAN/OIL (60,000 lbs; US cent/lb) Close Previous High/Low Sep 11 58.00
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    • Article
      Lock icon GOVERNMENT SECURITIES
      81 30 Aug 29 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****Z 01.12.2011 0.18 1-Year BY*****X 02.05.2012 0.17 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****Z 2.250 01.07.2013 103.83 103.89 103.85 5-Year N*****0W 1.125 01.04.2016 102.75 102.85 102.85
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    • Article
      Lock icon SGX DERIVATIVES TRADING
      439 30 Aug 30 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Sep11 99.6300 0 2503 Dec11 99.4800 0 2200 Mar12 99.4900 0 915 Jun12 99.5100 0 1074 EUROYEN TIBOR FUTURES Sep11 99.6800 0 1525 Dec11 99.6950 99.6950 99.6950 99.7050 250 2252 Mar12 99.7050 0 2383 Jun12 99.7025 0
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    • Article
      Lock icon STOCK INDEX FUTURES
      24 30 Aug 30 Open High Sett STI Aug Closed SIMSCI Aug Taiwan Aug 265.2 270.3 270.1 Source: MF Global (S) Pte Ltd
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    • Article
      Lock icon BONDS, WARRANTS & EXTENDED SETTLEMENT
      2504 30 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 25 1 150 37 5.12 33 ASJ Hldgs W*****1 0.5 1 4 29 7.00 6 AlliedTech W*****2 1.7 1 4 27 Aztech Grp W*****3 0.5 1 20 99
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    • Article
      Lock icon INTERBANK CROSS RATES
      462 30 Aug 29 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 1.038 6.774 0.731 8.274 48.749 90.586 0.814 11.407 3.163 1.256 92.837 44.938 1.282 7.526 0.863 30.818 31.843 0.648 1.062 Canada 0.963 6.523
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    • Article
      Lock icon SIBOR
      85 30 Aug 29 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** 6 mths -0.***** 9 mths -0.***** 12 mths
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    • Article
      Lock icon PRECIOUS METALS
      137 30 Aug 30 GOLD (US$/oz) Aug 30 Aug 29 Hong Kong 1792.00 1821.00 Aug 29 Aug 26 London 1778.04 1779.75 Source: Thomson Reuters CAST BAR Aug 29 (S$) Selling Buying Kilobar 75,325.86 ***** PAMP GOLD BARS (S$) Selling Buying 1gm 169 70 5gm 479 351 10gm 856 703 20gm
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    • Article
      Lock icon LONDON METALS
      71 30 Aug 26 Aug 26 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2343.50 2331.00 3 months 2378.00 2366.00 Copper, Grade A (US$/tonne) Cash 9061.75 9016.50 3 months 9075.00 9030.00 Lead (US$/tonne) Cash 2490.25 2406.50 3 months 2485.00 2401.50 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne)
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    • Article
      Lock icon INTERBANK CURRENCY RATES
      154 30 Aug 29 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2808 1.2822 1.0614 1.0618 Canadian dollar 1.2333 1.2350 1.0221 1.0227 Euro 1.7527 1.7545 1.4525 1.4529 NZ dollar 1.0200 1.0214 0.8453 0.8458 Sterling pound 1.9778 1.9797 1.6390 1.6394
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    • Article
      Lock icon US$/S$ FORWARD RATES
      22 30 Aug 29 S$ Bid Offer 1-month 1.2065 1.2075 2-months 1.2062 1.2073 3-months 1.2058 1.2068 6-months 1.2030 1.2044 Source: OCBC
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    • Article
      Lock icon PALM OIL
      61 30 Aug 29 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Sep 11 3094 N/A 3151 3094 221 2096 Oct 11 3041 3061 3041 842 ***** Nov 11 3007 3024 3006 2862 ***** Dec 11 3003 3012 2998 559
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    • Article
      Lock icon LIFFE
      82 30 Aug 26 COCOA (£/tonne) Close Prev High/Low Sep 11 1922 1891 1930/1900 Dec 11 1939 1910 1946/1918 Mar 12 1952 1924 1960/1932 May 12 1958 1933 1966/1942 COFFEE (US$/tonne) Close Pev High/Low Sep 11 2340 2345 2381/2323 Nov 11 2362 unch 2407/2326 Jan 12 2377 unch 2419/2349 Mar 12
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  • Article
    Lock icon SHIPPING TIMES
    5170 31 n BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com UEN NO. *****3249E UK CONTINENT SERVICE U.S.A. SERVICE Destination STXPO TBN Antwerp/UK *Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN Camden/New Orleans/Tampico Destination JIMFLUSH Muscat/Sharjah/Doha *Loads
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      28 31 Experienced ship maintenance services wanted. Can they find your services here in the Shipping Times? KLINE BSA To All Shipping Advertisers: Please call Joe Wong at 9620 1327
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  • executive Money
    • Article, Illustration
      Lock icon Emerging market equities are worth looking at
      810 33  -  Inflation is going to peak off in many EMs, with earnings forecasts for 2011 remaining steady MONEY MATTERS HAREN SHAH The writer is director and senior investment strategist, Asia Pacific, at Citi Private Bank SO FAR, 2011 has offered up a distinct feeling
      Source: MSCI, IBES, Datastream and CIRA, as of Aug 17, 2011; Source: Datastream and Citi Investment Research and Analysis, as of July 8, 2011  -  810 words
    • Article, Illustration
      Lock icon Disclose accounts abroad – or else
      1286 33 Disclose accounts abroad or else NYT [NEW YORK] IN THE debate over federal taxes, there is one potential revenue source with few defenders: people hiding money offshore. While there are legitimate business and investment reasons for keeping an account outside the United States, there are no legal reasons not to
      NYT; REUTERS  -  1,286 words
  • Page 33 Advertisements
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      287 33 A career that TURNS HEADS an Accountant Chow Khen Seng 1999 Typical Graduated with BComm Joined Big 4 as auditor Joined Bank as Vice President "I believe in having the courage to step out of the conventional route. So what if it turns out wrong? It is not going to
      287 words
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      388 34 Smarter comes to computing Today, everything computes. Intelligence has been infused into things no one would recognise as computers: appliances, cars, roadways, clothes, even rivers and cornfields. This is the daily reality of a Smarter Planet. Realising its promise, however, will require more than infusing computation into the world. We
      388 words