The Business Times, 10 August 2013

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Microfilm: NL32677
Total Pages: 38
1 20 The Business Times
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  • Title Section
    Lock icon Masthead
    17 1 weekend THE BUSINESS TIMES www.businesstimes.com.sg AUGUST 10-11, 2013 S$1.00 MICA (P) 075/08/2012 A SINGAPORE PRESS HOLDINGS PUBLICATION
    17 words
  • Article
    Lock icon Stirrings of recovery seen for China
    678 1  -  By Ayishah Ma EJ Insight Hong Kong ECONOMIC figures announced by China this week are the latest evidence of a turnaround in domestic demand and in the wider economy, economists said. “The producer price index (PPI) and import growth point to a recovery in
    EJ Insight  -  678 words
  • Article, Illustration
    Lock icon JUST DAZZLING
    53 1 Fireworks lighting up the night sky, marking the end of National Day Parade 2013. In a nod to Singapore’s multicultural heritage, the theme “Many Stories, One Singapore” seeks to give a voice to individual citizens. 45S’pore turns 48 with a rousing birthday bash, Page 2 PHOTO: RAJ NADARAJAN/
    PHOTO: RAJ NADARAJAN/ THE STRAITS TIMES  -  53 words
  • Article, Illustration
    Lock icon Local businesses brush up on the art of giving
    503 1  -  Corporate Singapore giving more, but not lending enough of its skills-based expertise By Kelly Tay kellytay@sph.com.sg Singapore EVEN as businesses in Singapore are giving money back to society like never before, the National Volunteer Philanthropy Centre (NVPC) says that plenty more
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      Lock icon Page 1 Advertisements Column 1
      36 1 the business www. usinesstimes.com. THE RAFFLES CONVERSATION ROBERT MERTON, MIT ECONOMIST 10-11 MOTORING Kia Forte K3 |L19 BT WINE CHALLENGE CEOs sip and swirl to pick the Best Ten 8 LIVING Deck the walls L2 5
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  • TOP STORIES
    • Article, Illustration
      Lock icon Singapore turns 48 with a rousing birthday bash
      460 2  -  National Day Parade 2013 pays tribute to a diverse nation bound by a shared history By Nisha Ramchandani nishar@sph.com.sg Singapore AS Singapore celebrated its 48th birthday against the backdrop of the city-state’s glittering skyline, the 2013 National Day Parade paid tribute to
      PHOTO: CAROLINE CHIA/THE STRAITS TIMES  -  460 words
    • Article
      Lock icon Reputation ranks higher than short-term profit: survey
      467 2  -  But firms seem to lack a formal process for managing it By Cai Haoxiang haoxiang@sph.com.sg Singapore MORE companies are worried about their reputation than before and they are prepared to sacrifice short-term profit to protect it, according to a survey of 1,300 management
      467 words
    • MARKETS
      • Article
        Lock icon STOCKS
        55 2 GSTI(Wednesday’s close) 3,229.91 (+5.02) GSTI FUTURES 3,208.00 (+4.00) GSIMSCI 368.70 (+0.71) GSIMSCI FUTURES 366.20 (+0.90) Friday Change KL COMP Closed NIKKEI 225 13,615.19 +9.63 HANG SENG 21,807.56 +151.68 SET 1,432.25 -14.91 JAKARTA Closed MANILA Closed KOSPI 1,880.71 -3.26 SHENZHEN B 804.51 +6.21 MUMBAI IND Closed 12noon EDT Change DOW
        55 words
      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5.38 MALAYSIA 6.55 HONG KONG 5.00 INDONESIA 13.416 TAIWAN 5.036 JAPAN 1.475 KOREA 9.33 BRITAIN 0.50 US 3.25 CANADA 3.00 SWITZERLAND 0.50 INDIA 14.45 Source: Bloomberg
        29 words
      • Article
        Lock icon FOREX
        49 2 FOREX US$ S$ US$ (S$ per US$) 1.269 (US$/S$ per 1.531 1.942 EURO(US$/S$/€ 1.328 1.685 Foreign currency per US$ S$ YEN 96.90 76.40 RM 3.255 2.566 HK$ 7.756 6.114 BAHT 31.43 24.77 RUPIAH 10,285 8,108 RENMINBI 6.120 4.824 INDIAN RUPEE 61.40 48.40 A$ 1.118 0.881 NZ$ 1.267 0.998
        49 words
    • Article, Illustration
      Lock icon Next stop: venture philanthropy?
      969 4  -  Some S’pore firms are going beyond merely writing out a cheque By Kelly Tay kellytay@sph.com.sg Singapore AS some Singapore companies struggle to implement basic Corporate Social Responsibility initiatives, a handful of larger corporates are becoming more inventive. They’re stepping away from traditional corporate giving writing out
      969 words
    • Article, Illustration
      Lock icon Biggest challenge for satellite campuses – sustainability
      671 6  - Biggest challenge for satellite campuses sustainability MIT professor gives his views on why Booth School of Business is relocating an MBA programme to HK By Malminderjit Singh msingh@sph.com.sg Singapore THE withdrawal of the University of Chicago Booth School of Business from Singapore may not be surprising as satellite university campuses
      671 words
    • Article, Illustration
      Lock icon CEOs sip, swirl and spit to choose their top 10
      616 8  -  It is the first time the group has been tapped for professional wine-judging the bt wine challenge| By June Lee Singapore OVER the magnificent views of the Singapore skyline from UBS’s 49th floor Lounge, a high-powered panel of chief executive
      PHOTOS: ARTHUR LEE  -  616 words
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      55 2 CONTENTS LIVING Design L2-5 Dining L6-7 NEWS Top Stories 2-8 Week In Review 9 Raffles Conversation 10-11 Companies 12 From the Desk of 13 Singapore 14 World 15-18 Stocks Stats 19 Perspective 20-21 Wealth 22-27 Investment pitch 24 Househunt 26 Real Estate 27 Travel L8-9 Wine L10-11 Style L12-14 Health
      55 words
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      71 3 One One man, one vote has never been in China and has never produced a prosperousChina. And they’re to try it. not going Read his views on China in One Man’s View of the World GET A COPY NOW FROM LEADING BOOKSTORES AT $39.90 Available from 5pm on August 6
      71 words
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      313 5 THE STRAITS TIMES WHEREVER YOU ARE "JUia pto]3XE w m j ‘d iu yjiinz a ijij is 3W&3pe——' e im c ALkTU STAY INFORMED ON WHAT MATTERS MOST GRAB THESE FABULOUS GIFTS when you Subscribe to The Straits Times. Select a Plan and pick your gift! SPPeac Plan 3-Yeor Plan
      313 words
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      224 6 THE BUSINESS TIMES SATURDAY SPECIAL 1-FOR-1 A la carte Yakimeshi or Yaki Udon Set! (Usual price from $10.90 to $14.90) Chicken Udon Beef Yakimeshi Terms Conditions Promotion is valid from 10th August to 17th August 2013 for dine-in customers only. Valid from 12pm to 3pm only. For every second order,
      224 words
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      310 7 Tfl .jam •Hi'SjSisaSJ|y iw«i| |mfi •pwtuwir* v aki 5 k* *ii STPROPERTY SEMINAR Opportunities Outlook of the Property Market in 04 2013 STRATEGIES TO OVERCOME THE CHALLENGING PROPERTY LANDSCAPE ~'i iff i' i 1 ■‘va-' Hurr i gau Under the new Total Debt Servicing Ratio (TDSR) framework by MAS, the
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  • WEEK IN REVIEW
    • THIS WEEK Aug 5-9, 2013
      • Article
        Lock icon ERA Realty sold for over $100m
        57 9 THE Republic’s biggest real estate agency, ERA Realty Network, has been sold for over $100 million to Indonesian private equity firm Northstar Group, months after owner Harry Chua put it on the market. The price is shy of the $150 million that Mr Chua’s
        57 words
      • Article
        Lock icon Continued China deceleration seen hitting S’pore sectors
        73 9 WITH Singapore’s growth so closely tied to China’s economy, even the slightest slowdown in the East Asian giant is bound to be felt here and one dominant view is that the immediate future may hold some pain in store. Economists BT spoke to
        73 words
      • Article
        Lock icon PRs trip on ringfence around landed homes
        78 9 THE number of approvals granted to permanent residents wanting to buy landed homes on mainland Singapore has fallen sharply, since the authorities further tightened the eligibility criteria in 2011 to ensure these scarce properties remain the primary preserve of Singapore citizens. The Singapore
        78 words
      • Article
        Lock icon How accurate is that financial statement? Just make a guess
        72 9 WHAT if someone told you that the financial statements of a company that you depend on to make your decisions as an investor, creditor, potential acquirer or some other stakeholder were almost totally the result of human judgment rather than
        72 words
      • Article
        Lock icon MF report weakens case for weaker yen
        48 9 THE yen is now “moderately undervalued”, an International Monetary Fund report suggested a finding that would make it harder for Japan to easily get its partners’ approval for any further depreciation of the currency as a means to anchor economic recovery.
        48 words
      • Article
        Lock icon Malaysian exports in June fall for 5th straight month
        84 9 MALAYSIA’S June exports have dropped 6.9 per cent year on year for a fifth successive month following a bigger decline in electrical and electronic (E&E) shipments to China and the US. “The contraction is twice as much as I expected,” said
        84 words
      • Article
        Lock icon Telcos play respective gambits in OTT game
        85 9 IN the battle for data revenue, all three telcos are striking back hard. SingTel has become the first local operator to team up with the ind u s t r y s t h orn i n t h e s id e
        85 words
      • Article
        Lock icon Home prices could slip with oversupply expected: Kwek
        51 9 KWEK Leng Beng, executive chairman of City Developments, says that unless the global and domestic economies rebound strongly and curbs on foreign buyers for private residential property sales are reviewed, the group expects some oversupply in the Singapore residential sector from next
        51 words
      • Article
        Lock icon New man taking the helm at CPIB from Oct 1
        52 9 A NEW director has been appointed to head the Corrupt Practices Investigation Bureau (CPIB) from Oct 1, while formal warning letters have been issued to both the current and immediate-past CPIB di- rector for supervisory lapses that occurred during their
        52 words
      • Article, Illustration
        Lock icon Growth of 2.5-3.5% seen for 2013: PM Lee
        84 9 THE economy is “holding steady” amid global uncertainties and is now expected to grow 2.5 to 3.5 per cent this year, Prime Minister Lee Hsien Loong said. This was a stronger upward revision of the government’s earlier 1-3 per cent growth projection
        ST FILE PHOTO  -  84 words
      • Article
        Lock icon Tight car insurance market nudges AIG into niche areas
        52 9 AMID intense competition in the motor insurance market, the Singapore arm of insurance giant American International Group (AIG) is diversifying into niche lines of commercial insurance. AIG Singapore, formerly known as Chartis, will expand its trade credit, political risk, and aviation
        52 words
    • Article
      Lock icon NEXT WEEK Aug 12-16, 2013
      108 9 US DATA Aug 13 July retail sales July import and export prices June business inventories Aug 14 July producer price index Aug 15 Initial jobless claims July Consumer Price Index July industrial production August housing market index Aug 16 July housing starts Q2 productivity and
      108 words
  • Page 9 Miscellaneous
    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 1
      289 9 Across 1 None left unharmed (3,5) 6 Sound record of a pupil’s progress (6) 9 Operatic heroine that is at heart betrayed (6) 10 Preparing for exam? That makes a change! (8) 11 Make little trick to attract slow-witted (8) 12 Vice produces record-breaking tax (6) 13 Stranded travellers’ friend
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    • Miscellaneous
      Lock icon Page 9 Miscellaneous Column 2
      13 9 SATURDAY with Ludwig $1.99 and that’s the lowest I can go, your highness
      13 words
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  • RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon The financial innovator
      2425 10 / 11  -  Robert Merton talks to Vikram Khanna about financial innovation, risk and crises Vikram Khanna vikram@sph.com.sg NOBELlaureateRobert Merton is known to be brilliant, but this fast-and-straight -talking economist must also be one of the more colourful members of his profession. A risk taker in real life, he is
      PHOTO: ARTHUR LEE  -  2,425 words
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  • COMPANIES
    • Article, Illustration
      Lock icon SingPost’s new magazine for the well-heeled
      479 12  -  Estimated 100,000 affluent households to get ‘magalogue’ this November By Annabeth Leow leowhma@sph.com.sg SINGAPORE Post (SingPost) will be launching a lifestyle print-dig-ital publication this November, in collaboration with local marketing and media agency Fireworks Media. LivingESP is a “magalogue”, or a magazine-cum-catalogue, which SingPost’s
      479 words
    • Article
      Lock icon SingTel gets 2 offers for Aussie satellite biz
      473 12 One of the bids for Optus division is from Intelsat: sources Reuters Hong Kong SINGAPORE Telecommunications (SingTel) has received at least two offers for its Australian satellite business in the final round of the bidding process, including one from US-listed Intelsat SA,
      Reuters  -  473 words
    • Article
      Lock icon UBS to pay US$120m in settlement over Lehman securities
      218 12 Reuters New York UBS AG has agreed to pay US$120 million to settle a lawsuit by investors who accused the Swiss bank of misleading them about the financial condition of Lehman Brothers Holdings Inc in connection with the sale of structured
      Reuters  -  218 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon PIC scheme: all an SME needs to know
      1056 13  -  Introduced in 2010 and enhanced in subsequent years, it is a tax incentive to encourage businesses to invest in productivity and innovation activities FROM THE DESK OF Arvind Agarwalla Founder and CEO, FACT Software International WE ARE acutely aware of the increasing
      1,056 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon For Verztec, it just rolls off the tongue
      1251 14  -  Translation and localisation business is now its bread and butter. By Teo Si Jia ~teosj@sph.com.sg THE world is its oyster and for local start-up Verztec, it doesn’t matter if it is of the Belon, Kumamoto, Virginia, or the Olympia variety. The localisation
      PHOTO: ARTHUR LEE  -  1,251 words
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  • WORLD
    • Briefing
      • Article
        Lock icon Still some issues after US-Japan trade talks
        63 15 AP Tokyo US and Japanese officials yesterday wrapped up a round of talks aimed at reducing trade barriers, but differences remained over cars, insurance and other industries. The three-day talks were linked to the bigger Trans-Pacific Partnership negotiations. Japan joined the US-led negotiations
        AP  -  63 words
      • Article
        Lock icon Governance board for Norway sovereign fund
        65 15 Reuters London Norway’s US$760 billion sovereign wealth fund, the world’s largest, has appointed a corporate governance advisory board in an attempt to be a more active investor, the Financial Times reported. The fund invests Norway’s revenues from oil and gas production for future generations.
        Reuters  -  65 words
      • Article
        Lock icon Murdoch names new CEO for Aussie unit
        80 15 Reuters Canberra Rupert Murdoch’s News Corp appointed a new chief executive to its Australian arm yesterday, a move Prime Minister Kevin Rudd linked to mounting attacks on his government by Murdoch’s local newspapers during a divisive election campaign. Former newspaper executive Julian Clarke
        Reuters  -  80 words
      • Article
        Lock icon RBS sells part of India stake to Ratnakar Bank
        69 15 Bloomberg London Royal Bank of Scotland Group, Britain’s biggest taxpayer-owned lender, agreed to sell part of its Indian operations to Ratnakar Bank after talks with HSBC Holdings collapsed last year. The purchase of RBS’s business banking, credit card and mortgage units,
        Bloomberg  -  69 words
    • Article
      Lock icon China to let lenders sell off loans to a wider range of investors
      515 15 New trading platform, now in the testing phase, could set the stage for bank bailout Reuters Beijing CHINA is developing a new trading platform to enable banks to sell off loans to a wider range of investors,
      Reuters  -  515 words
    • Article
      Lock icon Wholesale inventories down again in June
      299 15 LATEST US DATA Re uters Washington US wholesale inventories unexpectedly fell for a second straight month in June, which could prompt economists to mark down their second-quarter growth estimates after they recently raised them. The Commerce Department said yesterday that wholesale inventories fell 0.2
      Reuters  -  299 words
    • Article, Illustration
      Lock icon Whistle-blower with Swiss bank clients list
      798 16 Falciani is a ‘wanted’ man. He holds the key to encrypted data that may be the biggest leak in the secret world of Swiss banking NYT Paris HERVÉ Falciani is a professed whistle-blower the Edward Snowden of banking who has been hunted by Swiss
      NYT; PHOTO: AFP  -  798 words
    • Article
      Lock icon Japan’s national debt reaches 1 ,008.6t yen
      324 16 Bloomberg [TOKYO] Japan’s national debt exceeded 1,000 trillion yen (S$13 trillion) for the first time, underscoring the case for Prime Minister Shinzo Abe to proceed with a sales-tax increase to shore up government finances. The country’s outstanding public debt including borrowings reached a
      Bloomberg  -  324 words
    • Article
      Lock icon RBA lowers Australia growth outlook
      437 18 The economy is making a transition from mining investment Bloomberg Sydney THE Reserve Bank of Australia lowered its growth outlook as the economy transitions from mining investment, a process that may be aided by the currency falling further from its still “high level”. “The forecast
      Bloomberg  -  437 words
    • Article
      Lock icon New Delhi’s 1956 companies law gets an overhaul
      235 18 2009.Reuters Mumbai INDIA ratified its first major overhaul of company law in more than 50 years, seeking to strengthen accounting standards and shareholder rights in a country where many businesses are family-controlled. Parliament on Thursday approved the new bill, which has provisions
      2009.Reuters  -  235 words
    • Article, Illustration
      Lock icon SEC set to strike settlement with JPMorgan: sources
      551 18 Probe into US$6b trading blunder reaches final stage NYT New York AN investigation into a multibil-lion-dollar loss at JPMorgan Chase Co is heading into its final stage with authorities poised to bring civil charges, the latest legal blow to the US’ biggest
      NYT; PHOTO: REUTERS  -  551 words
  • Page 15 Advertisements
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      Lock icon Page 15 Advertisements Column 1
      55 15 HOT PROPERTY V fW Beautiful view Prem L 5 P' Tenanted at $4600 ™stacklbd S r T m s £V The eLEMENTI Bark Patio. utterhI eW 1 o Bright! gbelredrup.com/ir8a.pS" braM new LOOKING FOR BEAUTIFUL VIEWS? Check this and many other properties in CATS Classified in The Straits Times now!
      55 words
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  • Page 16 Advertisements
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      Lock icon Page 16 Advertisements Column 1
      69 16 HI/MM MEGAGUIDE: DIGITAL PHOTOGRAPHY 3.0 Now Available in Digital Edition for iPad! Over 60 in-depth photography topics from beginner to expert levels. HIMM m GAGUID DIG TAL PHOTOGRAP fc—» Optimized for iPad XM. with Retina OVER 170 rjiRi4r.i Ttl pages OF PHOTOGRAPHY COKTtNT HOTOCIAPHT ssssttr .mivm 50% OFF! Only S$8.90*
      69 words
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      233 17 THE STRAITS TIMES WHEREVER YOU ARE Enjoy reading The Straits Times with the Samsung GALAXY Note 8.0 With LTE Get News On The Move. Breaking News updated throughout the day Access to 7-day archive of past Straits Times issues Receive news via Push Alerts wherever you go EXCLUSIVE OFFER' WHEN
      233 words
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  • MARKETS
    • Article
      Lock icon LIFFE
      94 19 Aug 8 COCOA (£/tonne) Close Prev High Low Sep 13 1655 1644 1685 1645 Dec 13 1648 1631 1671 1635 Mar 14 1630 1610 1651 1615 May 14 1629 1609 1648 1613 COFFEE(US$/tonne) Close Prev High Low Sep 13 1924 1902 1926 1896 Nov 13 1908 1895 1911 1887
      94 words
    • Article
      Lock icon METALS
      65 19 Aug 9 GOLD(US$/oz) Aug 09 Aug 08 Hong Kong 1317.50 1300.00 Aug 08 Aug 07 London 1308.50 1284.97 1309.31 1285.90 Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 24.89 24.11 Source: UOB PLATINUM Lon (US$/oz) Aug 08 Close Previous PM Fix 1465.00 1425.00 AM Fix 1448.00 1421.00 Source:
      65 words
    • Article
      Lock icon FOREIGN CURRENCY NOTE RATES
      118 19 Aug 07 Singapore dollars to one unit of foreign currency: Currencies Sell Buy Aust dollar 1.164 1.109 Can dollar 1.243 1.196 Euro 1.725 1.643 Sterling pound 1.980 1.904 NZ dollar 1.025 0.986 US dollar 1.293 1.232 Local dollars to 100 units of foreign currency: Currencies Sell
      118 words
    • STOCK MARKETS
      • Article, Illustration
        Lock icon Straits Times Index
        24 19 YTD change:+1.98% 52-week high: 3,464.79 on May 22,2013 52-week low: 2,931.60 on Nov 16,2012 (Chart shows Wednesday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  24 words
      • Article, Illustration
        Lock icon Hang Seng Index
        20 19 YTD change: -3.75% 52-week high: 23,944.74 on Feb 4,2013 52-week low: 19,076.79 on Sept 6,2012 Source: Bloomberg
        Source: Bloomberg  -  20 words
      • Article, Illustration
        Lock icon Shanghai Stock Exchange Composite
        21 19 YTD change: -9.56% 52-week high: 2,444.80 on Feb 18,2013 52-week low: 1,849.65 on June 25,2013 Source: Bloomberg
        Source: Bloomberg  -  21 words
      • Article, Illustration
        Lock icon Nikkei 225
        19 19 YTD change: +30.98% 52-week high: 15,942.60 on May 23,2013 52-week low: 8,488.14 on Oct 15,2012 Source: Bloomberg
        Source: Bloomberg  -  19 words
      • Article, Illustration
        Lock icon Dow Jones Industrial Average
        27 19 YTD change:+18.27% 52-week high: 15,658.43 on Aug 2,2013 52-week low: 12,471.49 on Nov 1 6, 2012 (Chart shows Thursday’s index closing) Source: Bloomberg
        Source: Bloomberg  -  27 words
    • Article
      Lock icon PALM OIL
      57 19 Aug 7 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Aug 13 2280.0 2278.0 2280.0 2280.0 240 724 Sep 13 2261.0 2236.0 2261.0 2233.0 2955 ***** Oct 13 2231.0 2207.0 2232.0 2201.0 ***** ***** Nov 13 2222.0 2201.0
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    • Article
      Lock icon GOVERNMENT SECURITIES
      88 19 Aug 7 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****W 19-Sep-13 0.26 6-Month BS*****V 07-Feb-14 0.28 1-Year BY*****H 02-May-14 0.28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0S 0.25 01-Feb-15 100.04 5-Year N*****0T 0.5 01-Apr-18 98.39
      88 words
    • Article
      Lock icon INTERBANK CURRENCY RATES
      155 19 Aug 7 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1340 1.1349 0.8940 0.8946 Canadian dollar 1.2181 1.2183 0.9603 0.9602 Euro 1.6843 1.6850 1.3278 1.3282 NZ dollar 1.0012 1.0019 0.7893 0.7898 Sterling pound 1.9414 1.9422 1.5305 1.5310
      155 words
    • Article
      Lock icon CHICAGO BOT
      105 19 Aug 8 SOYBEANS (5,000 bu min; USc/60 lb bushels) Close Previous High/Low Aug 13 1355.75 1327.75 1358.00 1328.00 Sep 13 1227.75 1199.00 1233.00 1198.75 Nov 13 1184.25 1165.75 1190.00 1164.75 Jan 14 1189.25 1172.25 1195.00 1170.75 SOYBEAN OIL(60,000 lbs; USc/lb) Close Previous High/Low Aug 13 41.65 41.64 41.94
      105 words
    • Article
      Lock icon OIL
      68 19 Aug 08 CRUDE US$/barrel (FOB origin) Close Change Brent blend (1-Mth F) 105.34 -1.17 WTI (Near Mth) 103.50 -0.78 Dubai (1-Mth F) 101.96 -1.15 Tapis blend 113.51 -1.13 Minas 106.21 -1.13 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 98.00 unch Jet Kerosene 122.26 unch US$/barrel OpecOil Basket Price 104.47
      68 words
    • Article
      Lock icon LONDON METALS
      72 19 Aug 08 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 1794.55 1750.25 3 months 1840.00 1797.00 Copper, Grade A (US$/tonne) Cash 7164.50 6983.75 3 months 7185.00 7006.00 Lead (US$/tonne) Cash 2125.50 2092.25 3 months 2139.00 2105.00 Nickel (US$/tonne) Close Previous Cash *****.00 *****.50 3 months *****.00 *****.00 Tin (US$/tonne)
      72 words
    • Article
      Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
      374 19 MORGAN STANLEY CAPITAL INT' L INDICES In local curr In S$ In US$ dy yr dy yr dy yr Aug 8 Index Change Change Change Change Change Change World Preliminary 1088.8 0.1 16.1 -0.2 17.5 0.4 14.0 EAFE Preliminary 884.8 0.1 14.2 0.1 13.4 0.7 10.0 Europe Preliminary 1269.6 0.5
      374 words
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  • PERSPECTIVE
    • Article, Illustration
      Lock icon Summer time, but the living’s not easy
      956 20 / 21  -  The Japanese attitude towards holidays has a sado-masochistic quality sadistic on the part of bosses limiting working breaks to the minimum, and masochistic on the part of employees eager to take minimum time off Anthony Rowley okyo Correspondent THIS is the time of
      PHOTO: AP  -  956 words
    • Article, Illustration
      Lock icon Schools versus nursing homes
      849 20 / 21  -  Robert Samuelson The Wash ington Post Writers Group IT’S a new twist to an old story. In ageing America, demography is politics. In 2025, there will be an estimated 106 million Americans aged 55 and over, nearly a third of the total population, up from a
      The Washington Post Writers Group; PHOTO: REUTERS  -  849 words
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  • Wealth
    • WEALTH INVESTING
      • Article, Illustration
        Lock icon Lending platforms aim for the sky
        1569 22 / 23  -  The huge success of online firms like Lending Club has drawn the interest of venture capital firms looking for similar results. By Randall Smith By Randall Smith NYT IN ONE sense, Internet commerce is largely a matchmaking service, connecting people who are looking for
        NYT; PHOTO: AFP  -  1,569 words
      • Article
        Lock icon BROKERS’ TAKE
        766 22 / 23  -  Compiled by Joyce Hooi Sembcorp Industries Buy OCBC Investment Research Aug 7 Aug 7 close: $5.07 NET profit fell 13 per cent y-o-y in Q2 2013. Sembcorp Industries (SCI) reported a 6.3 per cent y-o-y fall in revenue to $2.5 billion and a 13.3 per cent drop in
        766 words
      • Article, Illustration
        Lock icon Handling an investment pitch from a friend
        1342 24 Deciding whether to invest requires more than just an analysis of the offer NYT New York THE first question Elliot Liss asks when a friend walks up with an investment offer is, “Why me?” “It’s Question 1 at the cocktail party,” he said.
        NYT; PHOTO: REUTERS  -  1,342 words
      • Article, Illustration
        Lock icon Sales of million-dollar homes in US rising
        1371 25 Wealthy buyers, helped by gains in equities, are diving into property a year after recovery started in the housing market Bloomberg Boston REAL estate has returned as a favourite topic of conversation at the pair of Starbucks Corp coffee shops in Granite Bay,
        Bloomberg; PHOTO: AFP  -  1,371 words
    • WEALTH REAL ESTATE
      • Article
        Lock icon UK house prices hit all-time high in July
        304 26 Reuters London HOUSE prices in England and Wales reached an all-time peak in July, driven by strong demand in London, though purchases by first-time buyers remain well below historic levels, a report showed yesterday. House prices rose 0.3 per cent in July
        Reuters  -  304 words
      • Article
        Lock icon Househunt
        837 26 PROPERTY TRANSACTIONS FOR SELECTED DISTRICTS WITH CONTRACT DATES BETWEEN JULY 7 AND JULY 16, 2013 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$'000) PSF (S$) District 2 NON-LANDED Icon Apt 16/07/2013 99 969 1780 1837 Spottiswoode Residences Apt 10/07/2013 FH 603 1383 2295
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        Lock icon Obama renting investor’s Vineyard estate
        652 27 President and family to stay at modernist home of David Schulte during their August vacation Bloomberg New York PRESIDENT Barack Obama and his family fly this weekend to Martha’s Vineyard for a vacation at a rented multi-million-dollar modernist home owned by Chicago investment banker and
        Bloomberg  -  652 words
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        Lock icon Real estate investment growth in China up 20.5% from January to July
        479 27 Reuters Beijing GROWTH in real estate investment in China ticked up in the first seven months of this year, official data on Thursday showed, and developers remain optimistic about the market this year due to strong demand, boding
        Reuters; PHOTO: AFP  -  479 words
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      156 28 TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE GRANDE COMPLICATION IS THE ULTIMATE EXPRESSION OF THE WATCHMAKER’S ART. AUDEMARS PIGUET HAS BEEN MAKING SUCH COMPLEX PIECES CONTINUOUSLY SINCE 1882. ONE WATCHMAKER IS RESPONSIBLE FOR EACH WATCH IN ITS ENTIRETY THE 648 INDIVIDUAL PAR TS, THE DETAILED ASSEMBLY AND
      156 words
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      56 1 LivingBTTHE BUSINESS TIMES WEEKEND AUGUST 10-11, 2013 DECK THE WALLS Designers who jazz up walls differently L2-5 BT WINE CHALLENGE 2013 A fruitful New World L10-11 STYLE Beyond skin deep L6-7 DINING Singapore feted L12-14 BT CORPORATE GOLF LEAGUE Sultans swing the 2nd round L16-17 TRAVEL Blockbuster capital L8-9 ARTKHALYTIS
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  • BT Living
    • DESIGN
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        Lock icon Deck the walls
        2664 2 / 3  -  When it comes to giving the home a new look, a fresh coat of paint or simply hanging up a piece of artwork on the walls are quick solutions. But they can get boring after a while. Tay Suan Chiang meets four designers who can jazz up
        PHOTOS: MIKE FOO; PHOTOS: MIKE TAY; PHOTO: PASSIONSCAPE; PHOTOS: PASSIONSCAPE; PHOTOS: Artkhalytis, YEN MENG JIIN  -  2,664 words
    • STYLE
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        Lock icon Beyond skin deep
        975 6 / 7  -  Braving the elements and embarking on worldwide expeditions to responsibly source for skincare ingredients, a fair trade buyer helps prettify consumers without prickling their conscience. By May Yip By May Yip Atypical day at work for Christina Archer, a senior buyer with The Body Shop’s Community Fair
        975 words
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        Lock icon Shopping for fair trade skincare
        198 6 / 7 Know what you’re putting on your skin, with these tips on spotting fairly-traded pampering products 1. Understand fair trade Usually farmers sell through several middlemen or distributors, and struggle to get a fair price for their crops. Fair trade ingredients used by beauty companies are
        198 words
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        Lock icon Who’s the fairest of them all?
        580 6 / 7  -  A run-down of other beauty brands that take the guilt out of looking gorgeous. By May Yip By May Yip btnews@sph.com.sg Dr Hauschka FIRST launched in Singapore in 1999, this established skincare company has been training farmers in biodynamic methods of agriculture and production,
        580 words
    • TRAVEL
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        Lock icon Blockbuster capital
        1430 8 / 9  -  From movies to economic policy, Washington, DC is probably the most important 176 square kilometres on the planet. By Daven Wu By Daven Wu btnews@sph.com.sg AFTER New York, probably the world’s most famous movie set has to be Washington, DC. So much so that when you finally come
        PHOTOS: WASHINGTON.ORG, JAKE MCGUIRE; PHOTOS: WASHINGTON.ORG, JASON HAWKES  -  1,430 words
    • BT WINE CHALLENGE 2013
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        Lock icon A fruitful New World
        1889 10 / 11  -  In the first write-up of the series, we look towards the New World: New Zealand, USA and South America. By June Lee EACH of these geographically distinct countries from three continents offers a dynamic take on wine varieties and terroir. The New World has been trading
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        Lock icon Singapore feted
        1253 12 / 13  -  Who says we’re a country with no creativity? To celebrate Singapore’s 48th birthday, Debbie Yong spotlights eight new dishes that offer clever twists on familiar local flavours Debbie Yong APPETISERS Chilli crab kueh pie tee What’s the easiest way to curry favour with Singaporean diners? Why, intermarry two
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        Lock icon A toast to our own
        297 12 / 13 TO raise a glass to personal craftsmanship that goes into the food and wine we consume, local wine distributor Ong Yixin of boutique wine import business, KOT Selections, will be launching for the whole of August, Majulah Singapura, a weekly showcase of local restaurants and
        297 words
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        Lock icon Singapore redux
        1185 14  -  Looking for more Singapore-inspired fare? Debbie Yong susses out two new places to get your fix of local food with a twist Debbie Yong debyong@sph.com.sg The Tuckshop 403 Guillemard Road Hours: 5pm-1am daily Z6744 8441 www.facebook.com/Thetuckshopsingapore AN address within Singapore’s most infamous red light district is something most
        TUCKSHOP BY JOSEPH NAIR  -  1,185 words
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        Lock icon Going nutty about health
        1045 15  -  There is an increasing body of evidence to show the benefits of adding edible seeds (including grains, beans, nuts and cocoa) to diets. By Dr Michael Lim By Dr Michael Lim ~Dr Lim is medical director at the Singapore Heart, Stroke Cancer Centre. He is also
        PHOTO: AFP  -  1,045 words
    • BT CORPORATE GOLF LEAGUE 2013
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        Lock icon SPH Sultans swing the second leg
        1231 16 / 17  -  Team hold on to their second place on the league table by winning at Sembawang Country Club. By Justine Moss btnews@sph.com.sg AT last Tuesday’s second round of the Business Times Corporate Golf League, the SPH Sultans of Swing lived up to their name by
        PHOTOS: GOLF DIGEST  -  1,231 words
    • MOTORING
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        Lock icon Prince of the urban jungle
        756 18  -  Subaru Forester 2.0 XT looks and feels big on the road, but doesn’t come with a hefty price tag. By CY Chew btnews@sph.com.sg IN Singapore, there’s hardly any real need for an SUV or sport-utility vehicle, or shall we say, a proper SUV with off-road
        PHOTOS: CY CHEW  -  756 words
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        Lock icon A pretty good Korean model
        604 19  -  For a volume car, the Kia Forte K3 has great styling and features. By Samuel Ee samuelee@sph.com.sg IF K-Pop ever requires a poster car, something as cute and pretty as the archetypal Korean boy band or girl group, it would have to be the Kia
        604 words
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        Lock icon Stylish people mover
        748 20  -  The Peugeot 5008 e-HDi has better fuel economy, which is a boon to those who clock a lot of mileage. By CY Chew By CY Chew btnews@sph.com.sg LET’S face it. When you have screaming kids, groceries to bring home and bicycles to lug, probably the last thing
        PHOTOS: CY CHEW  -  748 words
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      980 4 / 5 wine&dine with BTWeekend AquaMarine Marina Mandarin Singapore, Level 4 6 Raffles Boulevard Aug 8-31, 2013 Celebrate Singapore’s birthday with local delights including AquaMarine’s signature dishes such as Laksa and Hainanese Chicken Rice, as well as Nasi Lemak, Singapore Rojak, Roti Prata and more! For reservations, call 6845 1118 or e-mail
      980 words
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      74 10 / 11 The inaugural The Business Times Wine Challenge 2013 in partnership with UBS seeks to uncover the top 50 wines available in Singapore. A distinguished panel of CEOs will choose the 10 best-drinking among them decisions which will be announced in September. A unique buyer’s guide to all 50 wines, reflecting
      74 words
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