The Business Times, 11 November 2014
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2014-11-11
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The Business Times
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Title Section29 2014-11-11 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G n@BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Tu sday, November 1129 words
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Article, Illustration232 2014-11-11 1 Malaysia’s economic growth prospects remain strong this year and next year. At least two research houses put the country’s real gross domestic product growth at 5.8-6 per cent in 2014, from 4.7 per cent last year, and slightly over 5 per cent in 2015. top stories 2 Opportunities232 words
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Article26 2014-11-11 1 Monday Change STI 3,301.00 +14.61 KL COMP 1,827.93 +3.74 NIKKEI 225 16,780.53 -99.85 HANG SENG 23,744.70 +194.46 SHENZHEN B 973.69 +17.43 DOW(11am EST) 17,601.48 +27.5526 words
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591 2014-11-11 1 Michelle Quah - From Feb 1, audits of institutions like charities must meet same independence standards as listed firms By Michelle Quah michquah@sph.com.sg @MichelleQuahBT Singapore SINGAPORE’S public accountants and public accounting firms will soon have to adhere to stricter professional conduct and ethics guidelines aimed at591 words
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Article, Illustration804 2014-11-11 1 Siow Li Sen - By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore SINGAPORE banks are expected to step up their foreign currency bond sales to fund increasing intra-regional expansion. This comes as Asean banks step up bond issuances overall, as loans growth outpace deposit inflows, said804 words
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Advertisement236 2014-11-11 1 *****4 AYALA CEO’S PRINCIPLES PRESIDENTIAL SETBACK Obama’s electoral loss may impact Asia trip OPINION 26 NEW DEALS Staying the course across generations Ascott bags five new management contracts in China NEW LISTING Keppel T&T pushes ahead with IPO of data centre Reit COMPANIES MARKETS 6 ASIAN LEADERS INSIGHTS 12 REAL236 words
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Advertisement8 2014-11-11 1 ASME lays groundwork with key MOUs SME 298 words
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TOP STORIES
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594 2014-11-11 2 S Jayasankaran - A new debt threat in the form of 1MDB, which recently recorded a loss of RM665m, may be emerging By S Jayasankaran btworld@sph.com.sg Kuala Lumpur WHILE prospects for Malaysia’s economic growth this year and the next remain strong, concerns about its stubbornly594 words
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Article, Illustration739 2014-11-11 2 AFP Hong Kong A TRADING link between Hong Kong and Shanghai’s stock exchanges will start on Nov 17 after weeks of delays, the Hong Kong exchange announced on Monday, in a move that is expected to lead to billions of dollarsAFP; PHOTO: REUTERS - 739 words
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859 2014-11-11 4 Lynette Khoo - PM Lee: Republic’s role as transport, logistics, maritime hub could mean opportunities APEC SUMMIT By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Beijing OPPORTUNITIES could emerge for Singapore from the proposal to revive the maritime Silk Road, given the Republic’s role as a major transportation, logistics859 words
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Article, Illustration813 2014-11-11 4 REUTERS AFP Beijing US PRESIDENT Barack Obama said on Monday he sees momentum building for a Washington-backed free trade agreement in the Asia-Pacific, after arriving in Beijing on the first leg of an eight-day Asia tour. The US leader also said heREUTERS; AFP; PHOTO: AFP - 813 words
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Article, Illustration663 2014-11-11 4 BLOOMBERG REUTERS AFP Beijing CHINA and Japan broke a two-and-a-half year summit drought as the leaders of Asia’s two largest economies sought to repair ties frayed by territorial and historical disputes. Televised footage showed Japanese Prime Minister Shinzo Abe andBLOOMBERG; REUTERS; AFP; PHOTO: REUTERS - 663 words
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Article, Illustration634 2014-11-11 5 October figure of 1.6% reinforces expectations that authorities will roll out more steps to support growth REUTERS Beijing CHINA’S annual consumer inflation remained near a five-year low in October at 1.6 per cent, further evidence that the world’s second-largest economy is cooling and reinforcingREUTERS; PHOTO: AFP - 634 words
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354 2014-11-11 5 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CONSUMER confidence in Singapore climbed to its highest levels in three years, driven by an optimism in future job prospects and a positive outlook on personal finances. According to the latest Consumer Confidence Index354 words
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Advertisement79 2014-11-11 2 -aN X X h lirti. v (D •*Vx X, 0 > BVLGAR I C *iij. 1/ a fei U i. X rX. s» rc s» X S' a C THE THINNEST TOURBILLON MOVEM ENT IN THE WORLD BVLGAR I BOUTIQUES TAKASHIMAYA DEPARTMENT STORE, THE SHOPPES AT MARINA BAY SANDS AUTHORIZED79 words
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Advertisement238 2014-11-11 4 Public symposium Competition Cooperation in the Asia-Pacific Recognising Challenges, Seizing Opportunities What is the best approach to managing rising tensions in East Asia? What is the prospect of further cooperation in the Asia-Pacific? Date 19 November 2014 Time 1-5 pm Venue The Gallery, Grand Hyatt Singapore (10 Scotts Road) Free238 words
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Advertisement251 2014-11-11 5 look out for the special supplement on the 20th Anniversary of Enterprise in The Business Times tomorrow. <,?!^%*@-_/^@~~'(_@_%`=+:'<'+?$ 4Want access to BBQ pits? If you're looking for your dream condo complete with facilities, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988. St'.251 words
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COMPANIES & MARKETS
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767 2014-11-11 6 Angela Tan - The initial portfolio of Keppel DC Reit is expected to comprise eight data centre properties in the Asia-Pacific and Europe By Angela Tan angelat@sph.com.sg Singapore KEPPEL T elecommunications T ransportation (Keppel T&T) is pushing ahead with the planned multi-million dollar767 words
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486 2014-11-11 6 Angela Tan - It is buying Tuas yard and stake in Indonesian chartering firm from controlling shareholder By Angela Tan angelat@sph.com.sg Singapore TO further raise its profile as an offshore marine player, Vallianz Holdings has entered into two deals to acquire assets from its controlling486 words
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436 2014-11-11 6 Lee Meixian - By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore REAL estate investment trusts (Reits) in the Asia-Pacific are growing cautious, bracing themselves for the impact of higher interest rates next year, after the US Federal Reserve ended its quantitative easing programme in October. A Standard Poor’s436 words
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IN BRIEF
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116 2014-11-11 6 PRECISION engineering company Giken Sakata (S) is proposing a one-for-one share swap to place itself under a new listed holding company, to be called GSS Energy, to make it easier to pursue investment opportunities should they arise. The move comes116 words
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99 2014-11-11 6 SILVERLAKE Axis has proposed a first interim dividend of 0.8 Singapore cent per share after robust demand for software services lifted net profit 17 per cent in its first fiscal quarter. Net profit for the three months to Sept 30 rose99 words
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Article92 2014-11-11 6 Most active year-to-date* share buyback companies VALUE (S$M) COMPANY VOLUME (M) OCBC 12.8 124.2 SIA 12.1 121.8 DBS 4.9 78.5 Pac Century 133.3 34.6 SATS 7.1 21.4 Chip Eng Seng 17.2 13.9 SembMarine 2.8 11.6 Wilmar 3.8 11.3 Sembcorp Ind 2.1 11.0 Hyflux 10.4 10.4 Cordlife 8.092 words
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429 2014-11-11 6 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore SINGAPORE-listed companies are close to buying back more of their share capital than they did in the previous two years combined, according to data compiled by ShareInvestor, a financial Internet media technology firm owned by429 words
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270 2014-11-11 7 Nisha Ramchandani - B y Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore EXPLORATION and production energy firm Loyz Energy turned in a net profit of US$541,000 for Q1 FY2015, compared to a loss of US$ 1.63 million for the corresponding quarter a year ago. Revenue more than270 words
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Article549 2014-11-11 7 Chan Yi Wen - Revenue dips and gross profit margin plummets amid rising raw material costs By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore INSTANT food beverage producer Super Group’s net profit for the three months ended Sept 30 plunged 47 per cent to S$9.98 million. The fall in549 words
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467 2014-11-11 7 Lee Meixian - By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore ARA Asset Management, a major real estate fund manager in the region, on Monday reported a 60 per cent increase in third-quarter total revenue to S$52.8 million. Net profit rose 53 per cent in467 words
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283 2014-11-11 7 Claire Huang - By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore GLOBAL Yellow Pages’ net loss widened to S$2.35 million for its fiscal second quarter ended Sept 30, from S$ 794,000 a year ago. The results took into consideration a one-off reclassification of currency translation loss283 words
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462 2014-11-11 8 Kalpana Rashiwala - Group profit more than doubles to S$77m; company sees continued challenge in private residential market By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore STRONG revenue booking from property development projects helped Sim Lian Group to more than double net earnings to S$71.66 million for462 words
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Article, Illustration377 2014-11-11 8 Cai Haoxiang - By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore A LACK of contributions from the property division and the absence of a fair value gain from the disposal of available-for-sale financial assets caused food and beverage counter Yeo Hiap Seng to report a net profit377 words
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462 2014-11-11 8 Anita Gabriel - By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore PROPERTY developer Singhaiyi Group reported a 75 per cent drop in net profit to S$1.86 million for the second quarter from S$7.34 million a year ago, largely due to exceptional one-off items which were booked in the462 words
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Article, Illustration63 2014-11-11 10 STI Catalist Straits Times Index NOV 10,2014 3,301.00 +14.61 (+0.44%) Current streak 1 day Day high 3,312.68 Day low 3,301.00 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist Index NOV 10,2014 785.91 -9.61 (-1.21%) Current streak 5 days Day high 798.34 Day low63 words
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Article, Illustration647 2014-11-11 10 R Sivanithy - Index just about crosses 3,300 points, thanks mainly to big push on the three banks and Noble Group; DBS’s 1.6% surge contributes 6 points STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT A LARGE rally over in Hong Kong first thing in the morning following newsSource: Bloomberg - 647 words
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Article309 2014-11-11 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 225 unch 229/225 250 206 6.3 5685.1 CapitaLand 319 +4 321/315 348 268 16 2.5 *****.6 CapitaMall Trust 197 +3 199/195 209 180 5.2 6832.5 CityDev 947 +8 950/943 1118 860 12.8309 words
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Article36 2014-11-11 10 VOLUME Compact Metal 165,584,000 CompactMetal W*****0 128,808,000 Blumont 67,562,000 IHC 59,219,000 SIIC Environment 58,276,000 Market volume 1,767,295,000 VALUE DBS Grp 124,058,585 SingTel 80,255,080 Noble 63,798,496 ST Engineering 59,689,210 OCBC Bank 38,559,180 Market value 1,050,656,00036 words
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Article109 2014-11-11 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 165 +2 191 165/161 165/140 163/166 51.6 DBXT CSI300 US$ US747 +16 186 747/702 784/613 745/747 IS MS India US$ US767 -1 73 773/766 779/541 766/767 95.9 DBXT MSCHINA US$ US1320 +7 42 1328/1309109 words
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Article77 2014-11-11 10 Nov 10 VALUE CLOSE BT OB/OS 69.00 +12.00 BT CADI -*****.00 -19.00 BT 10-day MA -*****.00 +7.00 FTSE ST Mid Cap 749.69 +2.71 FTSE ST Small Cap 520.28 +0.38 FTSE ST All Share 796.17 +3.23 FTSE ST China Top 190.63 +0.07 FTSE ST China 225.37 +0.16 FTSE77 words
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Article, Illustration35 2014-11-11 10 STI FTSE ST All-Share ftse ST All-Share index NOV 10,2014 796.17 +3.23 (+0.41%) Current streak 1 day Day high 798.36 Day low 796.17 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)35 words
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Article, Illustration33 2014-11-11 10 STI MSCI EAFE MSCI EAFE index NOV 7,2014 1,798.65 -5.45 (-0.30%) Current streak 2 days Day high 1,806.08 Day low 1,795.51 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (Oct 16, 2014)33 words
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Article186 2014-11-11 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 9 4 3 0 0 0 9 4 3 Manufacturing 36 54 32 9 7 13 45 61 45 Commerce 16 18 20 2 5 5 18 23 25 Tpt/Stor/Comms 15 15 11186 words
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Article123 2014-11-11 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 29,312 29,312 111,253 111,253 Manufacturing 374,517 72,240 446,757 109,360 4,480 113,840 Commerce 100,126 29,172 129,298 106,213 2,094 108,307 Tpt/Stor/Comms 87,357 6,948 94,305 156,767 1,904 158,671 Finance 18,861 205 19,066 214,672 47 214,719 Construction 28,242 34,519123 words
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Article74 2014-11-11 10 BY CENTS CLOSE UP 52w high/low IS S&P500 US$ ***** 630.4 2.5 *****/***** GLD US$ ***** 326.2 2.3 *****/***** DBXT iBoxxSvEu US$ ***** 235.9 0.7 *****/***** DBXT AUDCS US$ ***** 220.5 0.9 *****/***** DBXT USDIGInfl US$ ***** 186.9 0.5 *****/***** BY PERCENTAGE CLOSE UP 52w high/low NobleGrpMBeCW*****5 1.7 54.574 words
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Article78 2014-11-11 10 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -55.4 -0.2 *****/***** SPDR S&P500 US$ ***** -51.6 -0.2 *****/***** JMH USD 5850 -19.3 -0.3 6460/4934 DBXT MSTHAI US$ 2128 -14.2 -0.5 2222/1620 IS ASIA HYG S$D 1401 -13.0 -0.9 1450/1321 BY PERCENTAGE CLOSE DOWN 52w high/low KLW W*****078 words
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Article81 2014-11-11 10 VOL CLOSE($) CHANGE GDS Global 179.0 0.500 +0.125 +33.33 Joyas Intl 478.0 0.030 +0.010 +50.00 E2-Capital 5,715.0 0.250 +0.020 +8.70 Compact Metal 165,584.0 0.044 -0.004 -8.33 P99 5,742.0 0.082 +0.001 +1.24 Net Pacific Fin 67.0 0.030 -0.005 -14.29 Chew's 72.0 0.300 +0.020 +7.14 Hor Kew 514.0 0.055 -0.00381 words
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BROKERS’ TAKE
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Article121 2014-11-11 10 Buy Nov 10 close: S$0.66 Target price: S$1.00 DBS Group Research, Nov 10 WE believe the steep correction has more than priced in Japfa Comfeed’s poor performance. We continue to expect strong demand for animal protein in Indonesia over the long term, as purchasing power typically recovers a121 words
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Article107 2014-11-11 10 Buy Nov 10 close: S$0.455 Target price: S$0.65 Maybank Kim Eng Research, Nov 10 Q3 2014 was above expectations on stronger margins. This confirms our turnaround thesis. We raise forecast 2014-2015 earnings per share (EPS) by 3 to 4 per cent. Undervalued growth stock with attractive yields. 24 per107 words
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Article214 2014-11-11 10 Cai Haoxiang - Compiled by Cai Haoxiang Buy Nov 10 close: S$3.19 Target price: S$3.84 CIMB Research, Nov 7 CAPITALAND’S results were in line with expectations, with nine-month 2014 core profit accounting for 75 per cent of our full-year estimate. While residential contributions in China were more volatile, strong recurrent income from214 words
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447 2014-11-11 11 CURRENCIES REUTERS London THE US dollar made a poor start to the week on Monday, with investors still seeing Friday’s weaker than expected US jobs numbers as an excuse to pause after three strong weeks of gains. The Swiss franc was on the vergeREUTERS - 447 words
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FOREX RATES
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Article471 2014-11-11 11 NOV 10 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.980 5.295 0.694 6.704 53.086 105.268 0.989 9.399 2.882 1.114 88.556 38.795 1.115 9.718 0.835 26.452 28.335 0.545 0.865 Canada 1.020 5.403471 words
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Article155 2014-11-11 11 NOV 10 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1146 1.1152 0.8646 0.8650 Canadian dollar 1.1377 1.1379 0.8825 0.8825 Euro 1.6062 1.6066 1.2459 1.2461 NZ dollar 1.0008 1.0017 0.7763 0.7769 Sterling pound 2.0462 2.0469 1.5872 1.5876155 words
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Article22 2014-11-11 11 NOV 10 S$ Bid Offer 1-month 1.2893 1.2896 2-months 1.2893 1.2896 3-months 1.2893 1.2896 6-months 1.2893 1.2896 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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Article371 2014-11-11 11 Nov 10 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.27 *****.05 *****.37 Dec14 *****.00 *****.00 *****.00 *****.00 *****2 *****7 Mar15 *****.00 *****.00 *****.00 *****.00 16 2984 MSCI TAIWAN INDEX FUTURES SPOT 331.79 337.08 331.79 Nov14 332.00 338.00 331.50 336.80 ***** *****6 Dec14 331.80371 words
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209 2014-11-11 11 Most active Nov 10 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Compact Metal Indus W*****0 2.5 -0.*****08 1 2 24 Rowsley Ltd W*****3 4.4 0.3 ***** 1 18 23 KLW Holdings Ltd W*****0 0.1 -0.2 6296 1 7209 words
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373 2014-11-11 11 In local curr In S$ In US$ dy yr dy yr dy yr Nov 7 Index Change Change Change Change Change Change World Preliminary 1259.0 0.0 6.3 -0.1 5.2 0.0 2.8 EAFE Preliminary 971.3 -0.1 1.6 -0.4 -3.9 -0.3 -6.1 Europe Preliminary 1356.4 -0.4 0.1373 words
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BANK RATES
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Article154 2014-11-11 11 Nov 10 $S Offer Bid 0vernight 0.03 0.01 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.03 US$ Offer Bid 7 days 0.18 0.08 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12154 words
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Article36 2014-11-11 11 NOV 10 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters36 words
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Article65 2014-11-11 11 Nov 10 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.85 5-Year N*****0H 1.625 01-Oct-19 100.64 100.75 100.68 10-Year NY*****H 3.000 01-Sep-24 106.1 106.35 106.20 15-Year NY*****E 2.875 01-Jul-29 102.32 102.35 102.35 20-Year NZ*****V 3.375 01-Sep-33 108.03 30-Year NA*****N65 words
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AGRI METALS ENERGY
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Article212 2014-11-11 11 NOV-7 Price Net change change Last Trade Agricultural Nov-7 CBOT Soybeans (US cents/bu) 1040.25 9.25 0.90% 14/11/2014 CBOT Soybean Oil (US cents/lb) 32.40 -0.13 -0.40% 12/12/2014 CBOT Wheat (US cents/bu) 514.50 -5.75 -1.11% 12/12/2014 Nov-7 LIFFE Cocoa (£/tonne) 1927.00 12.00 0.63% 12/12/2014 LIFFE Coffee (US$/tonne) 2018.00 12.00 0.60%212 words
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Article57 2014-11-11 11 NOV 10 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 14 2200.0 2205.0 2205.0 2185.0 147 1183 Dec 14 2215.0 2235.0 2235.0 2204.0 1724 ***** Jan 15 2207.0 2238.0 2241.0 2197.0 ***** ***** Feb 15 2217.0 2244.057 words
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Advertisement218 2014-11-11 6 Kemp The New Generation Smart Alkaline Water Ionizers tCcitip is the latest and the most advanced application of Smarts Technology in alkaline water ionizers. The relentless quest of Smart6 Technology is to obtain refinement of pH, ORP (Oxygen Reduction Potential) and higher level of activated Hydrogen for our well-being. 5*218 words
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Advertisement219 2014-11-11 8 FUTURE i l t I I l S I I iff CHINA ADVANCED LEADERS PROGRAMME ATTEND THE INFO SESSION REGISTER NOW! GroomingfidiireJeodw tqjbe “China-ready”, “China-savvy” and “Connected” Development Manager I > Shaw Lay See Director and Chief uoen Next Intake: March May 2015 Up your China-quotient and future-proof your business219 words
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Advertisement152 2014-11-11 8 tr Valuation: Art, Science or Magic? Learn it from the Valuation Guru VCCIRCLE TRAINING TVro Day Workshop on Business Valuation with i ASWATH DAMODARAN Professor, Stern School of Business y ———•iisaiiai' *> mu Ill III A ■fc vDeep Insights On DCF Model Live Case Studies Valuation of all types of152 words
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Advertisement1671 2014-11-11 9 MEETING SPH REIT MANAGEMENT PTE. LTD. (AS MANAGER OF SPH REIT) Co. Reg. No. *****5497E SPH REIT (a real estate investment trust constituted under the laws of the Republic of Singapore pursuant to a trust deed dated 9 July 2013) GENERAL ANNUAL NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY1,671 words
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Advertisement1153 2014-11-11 9 STATEMENT CEO’S Co. Reg. No. *****5497E SPH REIT MANAGEMENT PTE. LTD. (AS MANAGER OF SPH REIT) Co. Reg. No. *****5497E DEAR UNITHOLDERS On behalf of the Board of Directors of SPH REIT Management Pte. Ltd., the Manager of SPH REIT, we are pleased to present SPH REIT’s inaugural Annual Report1,153 words
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DBS ASIAN LEADERS INSIGHTS
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Article, Illustration1571 2014-11-11 12 FRANCIS KAN - The head of Ayala Corporation, Jaime Augusto Zobel de Ayala, shares his secret for keeping one of Asia’s most respected family businesses moving forward. BY FRANCIS KAN forward.BY FRANCIS KAN WHEN it comes to the challenge of sustaining a family business for future generations, onePHOTO: AYALA CORPORATION - 1,571 words
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Article323 2014-11-11 12 THE chairman and chief executive of Ayala Corporation, Jaime Augusto Zobel de Ayala, talks about the principles that have guided the family business over seven generations. Keep blazing trails We believe that our original pioneering and entrepreneurial spirit were key elements to our success at323 words
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REAL ESTATE
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Article, Illustration364 2014-11-11 14 Nisha Ramchandani - This brings its China portfolio to 12,000 apartment units; next target is 20,000 units by 2020 By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CAPITALAND’S serviced residence business The Ascott has landed contracts to manage five additional properties in China, boosting its portfolio to364 words
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577 2014-11-11 14 Pauline Ng - By Pauline Ng Kuala Lumpur MALAYSIA’S Auditor-General (AG) has called for stronger enforcement of the collection of real property gains tax (RPGT) by the Inland Revenue Board (IRB), and for its staff to be more efficiently deployed. Although the country’s top577 words
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Article, Illustration958 2014-11-11 17 Shaftesbury leverages successful eateries, which create a buzz and boost demand at shops on its properties BLOOMBERG London THE dynamism of London’s food scene in recent years hasn’t been good only for chefs and diners. It’s proved a boon for property companies suchBLOOMBERG; PHOTO: BLOOMBERG - 958 words
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249 2014-11-11 17 REUTERS Wellington NEW Zealand central bank’s year-old contentious limits on risky house lending are expected to be gradually phased out in the coming year as tame inflation and a slower housing market have reduced the need for them. For the past yearREUTERS - 249 words
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Advertisement397 2014-11-11 14 FREEHOLD DEVELOPMENT SITE 200M FROM MRT STATION FUTURE GREATER SOUTHERN WATERFRONT CITY > Pasir Panjang MRT n Station Pasir P an J an 9 Food Court To City f WEST fe O AST .FI I I A A 2014.08 Site area 3,550.8 sq m approximately 38,220 sq ft Masterplan zoning397 words
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Advertisement364 2014-11-11 14 The Nanyang Artists Presenting artworks from top Singaporean artists 4 t) 9 -€T > J s A '"'i fl >. ;k 3 ASIA ART COLLECTIVE We are open from 1 lam-7pm daily. Gallery address: 19 Tanglin Road, #03-42 Tanglin Shopping Centre, Singapore *****9 Tel: 6733 2155 Email: info@ asiaartcollective.com Tan364 words
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Advertisement19 2014-11-11 14 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices19 words
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Advertisement254 2014-11-11 17 FOR SALE BY EXPRESSION OF INTEREST SINGLE UNIT IN PRUDENTIAL TOWER Grade-A quality specification Ideal for Owner Occupation or Investment Covered access to Raffles Place and Telok Ayer MRT Spacious car drop off point Further enhancement to double-storey height modern lobby Column-free regular floor plate Ample car-parking provision with 181254 words
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Advertisement198 2014-11-11 17 LONGINES SINGAPORE GOLD CUP SUNDAY, 16 NOV 2014 SINGAPORE RACECOURSE 5 5* 1 ,-r vO Hearts will b* touched by gold in a race of elegance and compOssion at the racecourse. With a donation sum of $1.5 million, this is Singapore Turf Club's commitment to giving back to society and198 words
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BANKING & FINANCE
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Article, Illustration750 2014-11-11 18 Bright spots seen for certain titans but, for most of the industry, it is likely to be a disappointing year NYT New York A FEW corners of Wall Street are expecting big bonuses, but for most of the industry, it isNYT; PHOTO: BLOOMBERG - 750 words
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540 2014-11-11 18 Scheme to serve as marketplace for financing of SMEs REUTERS Kuala Lumpur THE Malaysian government plans to roll out a new syaria-compliant investment platform next year, aiming to broaden the traditional role of Islamic banks from credit provider to investmentREUTERS - 540 words
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Advertisement41 2014-11-11 18 GREAT MUSIC. GREAT FUN. TRUE CLASS. k*ISS92 FM Blip fell laggaRoSoonoB o r|o tfj^oCioCJO SSsSo?ttooon«oj| rf^sss?ssar Ss» jgySpo«oB0« *02J*£ 8 2?iSv BottoBoBotW -»|SoOoKoO£aw •o«yot- •otsoOoCfjr ’OCT'' Si S5*S MADDY, JASON N THE MORN NO facebook.com/kiss92fm 0kiss92fm www.kiss92.sg App Store Google play41 words
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Advertisement375 2014-11-11 18 blog.omy.sg/sgblogawards HL AWARDS m. 2014 V Johor Kaki Food and Travel Stories mSj15QQ y i David Wang hoto by Da' Trend Following with Michael Covel As Featured on: How does Trend Following work? Trend following is a very straightforward trading strategy that can extract profits from up, down and black375 words
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ENERGY & COMMODITIES
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Article, Illustration589 2014-11-11 19 It is smaller than US$400b accord reached earlier this year BLOOMBERG Sydney CHINA has secured almost a fifth of the natural gas supplies it will need by the end of the decade after striking a second major deal with Russia. Russian PresidentBLOOMBERG; PHOTO: REUTERS - 589 words
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406 2014-11-11 19 AFP Sydney AUSTRALIA is falling behind China and the United States in tackling climate change, with new investment in renewable energy falling by 70 per cent, a study released on Monday said. The independent Climate Council report found that while AustraliaAFP - 406 words
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285 2014-11-11 19 REUTERS London BRITAIN’S upper house of parliament is scheduled to consider plans for a sovereign wealth fund to be set up with revenues raised from shale gas, a source of energy which the government hopes will offset the decline of outputREUTERS - 285 words
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Advertisement210 2014-11-11 19 URBANATHLON 2015 TEST YOUR STRENGTH. CHALLENGE YOUR SPIRIT. 14KM ROUTE, 9 URBAN OBSTACLES EARLY BIRD RATE AT ONLY $108! (U.P.$128) TILL DEC 15, SO HURRY! MARCH 1, 2015 7AM KALLANG PRACTICE TRACK ARE YOU A CUB OR A LION? PROVE YOUR METTLE IN SINGAPORE’S TOUGHEST RACE WITH NEW OBSTACLES, OLD210 words
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Advertisement67 2014-11-11 19 POWER BREAKFAST POWER LUNCH 7 Purchase a copy of THE BUSINESS TIMES at 7-Eleven Shell and get a $5 Spinelli voucher* THE BUSINESS TIMES Share traders calling it a day as market volume dries up SPINELLI i h-iC //.I FIVE DOLLARS GIFT VOUCHER 1 M 9 ELEVEI1 Grab one from67 words
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TECHNOLOGY
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Article1219 2014-11-11 20 US financial institutions turn to Lawrence Baldwin for help in combating increasingly sophisticated hacking attacks NYT New York LAWRENCE Baldwin is a dark hero of the Internet whom you have probably never heard of and for good reason. A decade ago, Mr Baldwin madeNYT - 1,219 words
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Article, Illustration393 2014-11-11 20 BLOOMBERG New York UBER Technologies Inc is in fundraising mode again to bring in about US$1 billion to finance its rapid international expansion, said people familiar with the situation. Uber’s talks with new and existing investors are at such early stageBLOOMBERG; PHOTO: REUTERS - 393 words
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Advertisement617 2014-11-11 20 Striving For Professional Excellence Who should attend: Senior and Middle Management, Supervisors, Team Leaders, Managers, Business Owners, PMETs, and anyone who wishes to achieve higher success in their career. FULL-DAY WORKSHOPS Buzan Mind Mapping For Higher Workplace Productivity Nurturing The Next Crop of Leaders 20 1 4 N O VEM617 words
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CONSUMER
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Article, Illustration1003 2014-11-11 21 The drugs on clinical trial, once approved, could reach annual sales of as much as US$10b, say industry analysts REUTERS New York NOW that new medicines promise to cure millions of hepatitis C patients in coming years, drugmakers including Gilead SciencesREUTERS; PHOTO: BLOOMBERG - 1,003 words
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352 2014-11-11 21 Study warning comes as reports grow of young children swallowing the capsules in US AFP Washington LAUNDRY detergent pods could be dangerous for young children, researchers warned on Monday, as reports grow of kids under six swallowing the capsules in the United States. The detergentAFP - 352 words
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Advertisement241 2014-11-11 21 Subscribe Now, Unbox Your Very Own Dell Laptop. Subscribe* now to The Straits Times All-in-One PLUS package for 36 months and receive the Dell Vostro 5470. only $59.90/1 /month Available to UOB and Citibank Credit Card holders only 1 o s'"'' h't i n tv srn\ns ri\iES_ Sleek brushed aluminum241 words
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GOVERNMENT & ECONOMY
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622 2014-11-11 22 Central bank expects zero economic growth in 2015 and only 0.1 per cent expansion in 2016 REUTERS AFP MOSCOW THE Russian central bank said on Monday that it expects zero economic growth in 2015 and only 0.1 per cent growthREUTERS; AFP - 622 words
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676 2014-11-11 22 BLOOMBERG New York FOR all the talk that US Treasuries will tumble once the Federal Reserve starts to raise interest rates, investors in the longest-dat-ed debt securities are finding little cause for concern. Government bonds due in 30 years, the most vulnerable to lossesBLOOMBERG - 676 words
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Article, Illustration663 2014-11-11 22 BLOOMBERG London UK Prime Minister David Cameron was forced to defend his plan to hold a referendum on European Union (EU) membership as he appealed for the support of business leaders in next year’s general election. Mr Cameron was theBLOOMBERG; PHOTO: AFP - 663 words
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314 2014-11-11 22 BLOOMBERG Singapore INVESTORS are questioning Malaysia’s support for dollar-denomi-nated bonds issued by its sovereign wealth fund after a government official said it doesn’t guarantee the debt. Deputy Finance Minister Ahmad Maslan said on Nov 6 the government had only guaranteed sukuk, or bondsBLOOMBERG - 314 words
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307 2014-11-11 22 BLOOMBERG Hong Kong HONG KONG’s High Court on Monday upheld injunctions against the street occupation by pro-democracy protesters, who are facing increasing pressure to end demonstrations which are in their seventh week. Court-appointed bailiffs are allowed to take measures to remove obstructions inBLOOMBERG - 307 words
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Article, Illustration866 2014-11-11 23 It is dictating new terms as foreign businesses face scrutiny for corruption and monopolistic practices NYT New York CHINA is changing the rule book for business, forcing multinational companies to figure out how to play a new game or risk losing outNYT; PHOTO: RUETERS - 866 words
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Article, Illustration463 2014-11-11 23 It will aim to match investors and projects AFP Sydney A GLOBAL infrastructure hub proposed by G-20 nations to help strengthen economic growth will be based in Sydney and funded by Australia, a report said on Monday. The Group ofAFP - 463 words
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Advertisement570 2014-11-11 22 ShanghaiHK Stock Connect may temporarily affect market liquidityinS'pore 2+)"1’$,& I market To subscribe, call 6388-3838 or go to sphsubscription.com.sg IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF SMARTRON TECHNOLOGY PTE LTD (In Members’ Voluntary Liquidation) Company Reg. No. *****8337W NOTICE IS HEREBY GIVEN pursuant570 words
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Advertisement28 2014-11-11 23 Blow your own trumpet Buy new musical instruments or put up your old ones for sale in CLASS 72 To advertise, call the Print Classified Hotline: 1800-289 998828 words
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Advertisement82 2014-11-11 23 .«/;?y .> S&er:. :u....> >v». -.*.y iJVttd Sea; STW tJc vi- wT m NT B ,'»v-• 'vW''- ;,k’W ■W&WP/f- ~?:S’'■•■■!’ .V» v «fcpA Cook an egg? V-tv- \V ■V *>S**f Vi' S3 55 i i iH 1 What can you do in 3 minutes? i w. m Become enlightened! Scan82 words
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TRANSPORT
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560 2014-11-11 24 Nisha Ramchandani - AirAsia’s courier company is also growing footprint in Indonesia, India, Thailand and Taiwan By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore LOW COST courier Redbox by AirAsia is set to open two more outlets in Singapore as it continues to expand across the region.560 words
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Article, Illustration758 2014-11-11 24 NYT Gwangju, South Korea THE defendants, 15 mostly mid-dle-aged men, entered a courtroom last month and sat in two rows along a side wall. From the bench, three judges convened the 29th session of a trial to determine if they were guiltyNYT; PHOTO: AFP - 758 words
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484 2014-11-11 24 BLOOMBERG Tokyo BOEING Co has won an US$8.5 billion order from Japanese lessor SMBC Aviation Capital Ltd as Asian aircraftleasing companies bet on demand for new planes to serve the region’s travel growth. The order is for 80 737BLOOMBERG - 484 words
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413 2014-11-11 24 Bespoke luxury vehicle can even be encrusted with Swarovski crystals BLOOMBERG Hong Kong LEATHER seats and a champagne fridge used to be the ultimate in car luxury. Now, it’s Tiffany blue bonnets encrusted with Swarovski crystals. In China, where millionaires are being minted dailyBLOOMBERG - 413 words
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Advertisement172 2014-11-11 24 .comdirectory YOURGANGWAY COMINGSOON! TOAN OCEANOFBUSINESSOPPORTUNITIES! The Business Times/Shipping Timesis opening up an exciting new “trade route” for businesses catering to the maritime, shipping and related industries with the upcoming launch of its Maritime And Shipping Directory. Here’s how this new advertising platform can help your business make a splash in172 words
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Article969 2014-11-11 25 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Future 473E 12 Nov 02 Dec 19 Dec 23 Dec 24 Dec 25 Dec 29 Dec 30 Dec 01 Jan 02 Jan 07 Jan Hyundai Future969 words
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Advertisement214 2014-11-11 25 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 Publicise Your Del iver y214 words
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OPINION
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616 2014-11-11 26 EDITORIAL THE power outage which suspended trading for three hours on Singapore Exchange (SGX) last week is a reminder of how dependent we have become, as a society, on technology not only for doing business but also for almost every aspect616 words
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Article, Illustration745 2014-11-11 26 Robert Samuelson - THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP Washington THE Federal Reserve has ended its roughly US$3.7 trillion programme of bond buying, leaving in its wake a host of hard questions. Did it strengthen the economic recovery? If so, by howTHE WASHINGTON POST WRITERS GROUP - 745 words
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Article, Illustration993 2014-11-11 26 Leon Hadar - Other world leaders will see him as a politically deflated president, entering into the lame duck stage of his term, with less clout at home and abroad By Leon Hadar Washington “NINETY per cent of success is just showing up”, according to AmericanPHOTO: AFP - 993 words
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838 2014-11-11 27 Jayant Menon - APEC 2014 By Jayant Menon T The writer is Lead Economist at the Office of Regional Economic Integration, Asian Development Bank, and Adjunct Fellow at the Arndt-Corden Department of Economics, The Australian National University. The views expressed here are his own and do not838 words
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876 2014-11-11 27 John Muellbauer - By John Muellbauer T The writer is professor of Economics at the University of Oxford and a senior research fellow at the institute for New Economic Thinking at the Oxford Martin School PROJECT SYNDICATE Oxford IT is now a near certainty that,PROJECT SYNDICATE - 876 words
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Article, Illustration938 2014-11-11 27 JOERGEN OERSTROEM MOELLER - Discrepant decisions by Fed, ECB and BOJ point to economic warfare that will make all of them losers with disastrous consequences for the economies. BY JOERGEN OERSTROEM MOELLER economies.BY JOERGEN OERSTROEM MOELLER T The writer is Visiting Senior Research Fellow at the institute ofPHOTO: REUTERS - 938 words
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LIFE & CULTURE
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Article, Illustration928 2014-11-11 28 Astronomers among the winners of the 2015 Breakthrough Prizes, which total 12 in all NYT New York WHO knew there was so much money in dark energy? Two teams of astronomers who discovered that the universe is apparently being blown apart by a mysteriousNYT; PHOTOS: NYT - 928 words
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Article, Illustration230 2014-11-11 28 AFP Geneva RECORDS tumbled at a special auction in Geneva to mark 175 years of Patek Philippe watches, with a rare pink gold item going for US$2.67 million, auctioneers Christie’s said. The auction on Sunday of 100 wrist and pocket watches brought in a totalAFP; PHOTO: REUTERS - 230 words
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Article, Illustration846 2014-11-11 28 WP Washington “YOU can help save lives!” the email blast said. “Only 60 slots available.” Biomedical engineers at Johns Hopkins University were looking for experts, people who could combine brain power to solve a widespread problem in the fightWP; PHOTO: AFP - 846 words
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Advertisement11 2014-11-11 28 VJ JOHN KIASS \NEEKDAVS 4PM 8PM s.-m. y >r>D facebook.com/kiss92fm www.kiss92.sg11 words
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Advertisement56 2014-11-11 28 HOT PROPERTY NEW RAMP-UP Tampines, High ceiling/ contiguous space avail. TOP in 2Qtr 2015. 20K/ 150K S.F Open Space. Penjuru Tuas. Attractive rent. Near Upcoming Mega Port. D13 GENTING LANE Sindo Bldg (B2) 2400 sf. Fitted. High 5m ceiling. Avail immed. WAREHOUSES FOR RENT Check this and many other properties56 words
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Page 28 Miscellaneous
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Miscellaneous341 2014-11-11 28 CRYPTIC CROSSWORD Across 1 Romances a female, beautiful and small (7) 5 One caught in the grasp of tender policeman (7) 9 Football kit? Take it off! (5) 10 Episodes in police department? Gent’s lost his head (9) 11 Crack bone with feather duster? (3-7) 12 Car valuation oddly ignored341 words
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SME
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Article, Illustration926 2014-11-11 29 Mindy Tan - Its MOU with American Express, to be signed soon, will give it access to 15,000 Amex merchants and thus raise its reach among SMEs, says its chief By Mindy Tan tanmindy@sph.com.sg @MindyTanBT COME Thursday, American Express and the Association of Small and Medium EnterprisesFILE PHOTO - 926 words
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Article, Illustration788 2014-11-11 29 Asuthosh Nair - COMMENTARY By Asuthosh Nair The writer is the director of customer advocacy at GetIT Comms, a company that develops and implements marketing programmes, campaigns and projects for B2B organisations. Read more about B2B marketing strategies at www.b2bento.com EVERY business needs to constantly generate salesFILE PHOTO - 788 words
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Advertisement78 2014-11-11 29 Flexible office space available now xj Regus dgets 15 locations across Singapore Fully equipped and work ready offices Singapore From 1 to 50 people JTC Summit Orchard Tampines Junction Singapore CBD r tnri Flexible terms to suit all businesses Suntec City Marina Bay Reception services Meeting rooms and videoconferencing Call78 words
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