The Business Times, 27 November 2014
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2014-11-27
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The Business Times
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Title Section29 2014-11-27 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, Thursday, November 27, 2014G29 words
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Article27 2014-11-27 1 Wednesday Change STI 3,349.66 +4.67 KL COMP 1,842.17 +3.61 NIKKEI 225 17,383.58 -24.04 HANG SENG 24,111.98 +268.07 SHENZHEN B 989.11 +3.98 DOW (9.30am EST) 17,815.56 +0.6227 words
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Article, Illustration250 2014-11-27 1 Cash-rich Singapore investors are confident about their financial future and save proportionately more than their peers around the world. But they are also reluctant to take risks, and typically seek guaranteed returns from their investments, a survey by BlackRock finds. TOP STORIES 3 Some family offices in the250 words
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Article, Illustration1094 2014-11-27 1 Joyce Hooi - Crude oil prices have tumbled by about a third to a four-year low since peaking in June By Joyce Hooi joyceh@sph.com.sg @JoyceHooiBT Singapore AT the meeting of the Organization of Petroleum Exporting Countries (Opec) in Vienna on Thursday, tensions will be high behind closedSource: Bloomberg data; Source: ABN AMRO Group Economics, Thomson Reuters - 1,094 words
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Article, Illustration86 2014-11-27 1 Singapore PAST Redas president Wong Heang Fine, current president Chia Boon Kuah, Minister for National Development Khaw Boon Wan, Hong How Group chairman Daniel Teo and City Developments group general manager Chia Ngiang Hong raising a toast to the Real Estate Developers’ Association ofPHOTO: ARTHUR LEE - 86 words
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Advertisement176 2014-11-27 1 *****1 *****4 SINGAPORE ECONOMY October factory output disappoints, up just 0.2% TOP STORIES 2 BOOK REVIEW Dissecting the global financial crisis IPO WATCH Keppel DC Reit lodges preliminary prospectus COMPANIES MARKETS 6 RESERVE LIST SITE No small strata office, retail units for Beach Road site OPINION 25 REAL ESTATE 10176 words
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TOP STORIES
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Article, Illustration585 2014-11-27 2 Kelly Tay - Pharmaceuticals output offsets contractions in the electronics and transport engineering clusters By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE first set of industrial output data for Q4 has underscored Singapore’s sluggish growth outlook. The manufacturing sector barely expanded in October, with factory outputSource: Singapore Economic Development Board (EDB) - 585 words
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411 2014-11-27 2 Claire Huang - Uncertainty hampers rebound in consumer demand By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SINGAPORE’S economy is expected to have a “continued sub-par performance”, suggested by a lack of visibility that will hamper any significant rebound in domestic consumer demand, even as Singaporean consumer411 words
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Article, Illustration749 2014-11-27 2 Lee Meixian - Redas chief echoes the property market’s concern over the effects of cooling measures By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE president of the Real Estate Developers’ Association of Singapore (Redas) Chia Boon Kuah on Wednesday urged the government to “standPHOTO: ARTHUR LEE - 749 words
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Article, Illustration578 2014-11-27 3 Cai Haoxiang - Singapore investors cash-rich and risk-averse BlackRock global survey finds that they typically keep more cash in their portfolio than they know is ideal and want guaranteed returns from investments By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore CASH-RICH Singapore investors are confident about their financial future and in the local stock market,Source: BlackRock - 578 words
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320 2014-11-27 3 Claire Huang - The S$60m facility will cater to demand for devices for more immediate diagnosis By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore A S$60 million Diagnostics Development (DxD) Hub was launched at Biopolis on Wednesday to cater to the rapidly growing demand for devices that320 words
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474 2014-11-27 4 Jamie Lee - Family offices in the region that missed expectations rose to 10 this year from none 12 months ago By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore FOR the first time in three years, some Asia-Pacific family offices have underperformed their investment benchmark, the first474 words
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Article, Illustration538 2014-11-27 4 Angela Tan - By Angela Tan angelat@sph.com.sg Singapore SINGAPORE’S Land Transport Authority (LTA) unveiled on Wednesday more measures to improve the availability of taxis in the city-state. It noted that while more taxis are plying the roads and getting hired, there isTHE STRAITS TIMES FILE PHOTO - 538 words
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596 2014-11-27 4 AFP Frankfurt THE European Central Bank (ECB) is under fire in Germany because of its policy of negative interest rates, which is prompting some banks to charge customers for holding money in their bank accounts. In Germany, where saving isAFP - 596 words
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272 2014-11-27 4 LATEST US DATA REUTERS Washington CONSUMER spending rebounded in the United States in October, suggesting some resilience in the economy at the start of the fourth quarter. The Commerce Department said on Wednesday that consumer spending increased 0.2 per cent last monthREUTERS - 272 words
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Advertisement17 2014-11-27 2 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices17 words
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Advertisement16 2014-11-27 3 Grow Your Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices16 words
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Advertisement97 2014-11-27 3 GP GIRARD -PERREGACIX MECHANICS OF TIME SINCE 1791 > 610 0 1b m m IRARD PERREGACIX O' BO o <o wmm m a R o ay. 30 •S' i '3 I m i sm LIE VI if GIRARD-PERREGAUX 033Q0-0095 CALIBER, iELF-WINDING MECHANICAL MOVEMENT HOUR, MINUTE, SMAiL SECOND, LARGE DATE, MOON97 words
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Advertisement61 2014-11-27 4 SALE 20% f pair 30% -2 nd pair Terms Conditions Promotion starts 22 November. Applicable on regular priced items only. Some exclusion of models apply. 30% discount applies on lower priced item. Promotion mechanics, dates and participating outlets may be subject to changes. While stocks last. Clarks Boutique Ion Orchard61 words
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COMPANIES & MARKETS
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Article, Illustration486 2014-11-27 5 Claire Huang - Trust replaces commodity group Olam international as a component of the MSCI Singapore Index INDEX MOVERS By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SHARES in Suntec Real Estate Investment Trust (Suntec Reit) extended their gains on Wednesday, hitting a new one-year high asST FILE PHOTO - 486 words
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272 2014-11-27 5 Claire Huang - By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore ACCORDIA Golf Trust (AG Trust) on Wednesday made its debut on the Morgan Stanley Capital International (MSCI) Singapore Small Cap Index, along with three other companies. The other three are offshore support vessel provider PACC272 words
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306 2014-11-27 5 Singapore GLOBAL investor confidence fell in November, with the decline paced by North American and Asian investors. According to the State Street Investor Confidence Index, the global index fell to 114.0, down slightly by 1.8 points from October’s revised reading of 115.8. The North306 words
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Article, Illustration494 2014-11-27 6 Anita Gabriel - Targeted for rollout by mid-2015, it will initially include Asian corporate bonds in G-3 currencies, followed by Asian currencies By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SINGAPORE Exchange plans to roll out a bond trading platform by mid next year which will initially include AsianPHOTO: KEVIN LIM/THE STRAITS TIMES - 494 words
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Article, Illustration446 2014-11-27 6 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore YUUZOO Corporation has signed a deal with Etisalat to bring its social e-commerce model to Nigeria, said YuuZoo on Wednesday evening, shortly after requesting a trading halt. The partnership targets Etisalat’s more than 20 million subscribers inBT FILE PHOTO - 446 words
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475 2014-11-27 6 Anita Gabriel - By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore THE much-awaited Keppel DC Reit initial public offering came a step closer to fruition after the firm lodged a preliminary prospectus on Wednesday for an offer to raise between S$496.5 million and S$513475 words
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549 2014-11-27 7 Chan Yi Wen - Offering of hybrid units akin to those of CDL Hospitality Trust may take place before year-end to raise up to S$1b By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore UNIVERSAL Terminal’s impending initial public offering (IPO) on the Singapore Exchange could549 words
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415 2014-11-27 7 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore GERMAN automotive supplier Continental has opened a S$29.7 million extension building to its research and development (R&D) centre in Singapore, in line with its expansion plans against the backdrop of Asia’s growing automobile industry. Spanning 5,000 square metres,415 words
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413 2014-11-27 7 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore DBS Group Research expects hospital operator IHH Healthcare to continue to post stable growth, fuelled by key markets Singapore and Malaysia, although growth in its Turkey operations could be partially impacted by the weaker Turkish lira.413 words
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Article, Illustration63 2014-11-27 8 STI Catalist Straits Times index NOV 26,2014 3,349.66 +4.67 (+0.14%) Current streak 2 days Day high 3,349.66 Day low 3,330.80 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index NOV 26,2014 793.16 +5.49 (+0.70%) Current streak 1 day Day high 793.50 Day low63 words
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Article75 2014-11-27 8 BY CENTS CLOSE DOWN 52w high/low DBXT ASX200 US$ 3869 -196.3 -3.8 4403/3647 JSH USD 3490 -33.8 -0.7 3810/3006 GLD US$ ***** -32.5 -0.2 *****/***** DBXT Vietam US$ 2810 -13.0 -0.4 3100/2384 DBXT S&P Short US$ 2233 -10.4 -0.4 2752/2233 BY PERCENTAGE CLOSE DOWN 52w high/low Ezion MBeCW*****2 0.275 words
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Article, Illustration594 2014-11-27 8 Cai Haoxiang - Stock rises 8% with more than 40 million shares changing hands before trading halt and Nigeria deal announcement TT STOCKS By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT AS investors await news from Thursday’s Organization of the Petroleum Exporting Countries (Opec) meeting for clues on whereSource: Bloomberg - 594 words
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Article307 2014-11-27 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 233 +2 234/230 250 206 6.1 5887.2 CapitaLand 332 -1 333/331 348 268 16.6 2.4 *****.2 CapitaMall Trust 199 +1 200/198 209 180 5.2 6901.9 CityDev 999 +11 999/984 1118 860 13.6307 words
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Article37 2014-11-27 8 VOLUME MDR 75,020,000 IHC 72,322,000 SIIC Environment 67,228,000 Addvalue Tech 57,480,000 Memstar Tech 56,051,000 Market volume 1,816,416,000 VALUE Suntec Reit 85,862,205 SingTel 81,956,424 Global Logistic 61,157,330 DBS Grp 58,651,806 OCBC Bank 52,700,462 Market value 1,208,571,00037 words
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Article111 2014-11-27 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US780 +6 1521 783/774 790/541 778/780 97.5 UETF SSE50China 176 +4 502 176/173 176/140 175/176 55 DBXT CSI300 US$ US800 +16 78 803/784 803/613 801/804 ABF SG Bond ETF 116.8 +0.3 53111 words
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Article77 2014-11-27 8 Nov 26 VALUE CLOSE BT OB/OS -83.00 +47.00 BT CADI -*****.00 +22.00 BT 10-day MA -*****.00 -8.00 FTSE ST Mid Cap 755.92 +1.25 FTSE ST Small Cap 517.88 +0.02 FTSE ST All Share 806.08 +1.09 FTSE ST China Top 192.53 -0.54 FTSE ST China 227.33 +0.03 FTSE77 words
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Article, Illustration35 2014-11-27 8 STI FTSE ST All-Share FTSE ST All-Share index NOV 26,2014 806.08 +1.09 (+0.14%) Current streak 2 days Day high 806.08 Day low 802.29 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)35 words
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Article, Illustration33 2014-11-27 8 STI MSCI EAFE MSCI EAFE Index NOV 25,2014 1,842.26 +9.30 (+0.51%) Current streak 3 days Day high 1,842.59 Day low 1,830.36 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 2014-11-27 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 5 5 0 0 0 4 5 5 Manufacturing 44 40 41 11 6 8 55 46 49 Commerce 13 14 27 7 5 1 20 19 28 Tpt/Stor/Comms 16 12 13186 words
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Article119 2014-11-27 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 13,762 13,762 66,520 66,520 Manufacturing 360,658 53,214 413,872 126,030 2,885 128,915 Commerce 105,247 30,789 136,036 107,648 1,846 109,494 Tpt/Stor/Comms 113,384 666 114,050 177,177 231 177,408 Finance 19,129 529 19,658 169,082 118 169,200 Construction 14,164 31,156119 words
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Article77 2014-11-27 8 BY CENTS CLOSE UP 52w high/low SPDR DJIA US$ ***** 391.3 1.7 *****/***** SPDR S&P500 US$ ***** 106.6 0.4 *****/***** DBXT MSEurope US$ 5885 80.6 1.1 6492/5366 DBXT Nifty US$ ***** 68.9 0.4 *****/9759 DBXT iBoxxSing SG$ ***** 68.0 0.5 *****/***** BY PERCENTAGE CLOSE UP 52w high/low Cedar Strategic77 words
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Article80 2014-11-27 8 VOL CLOSE($) CHANGE Addvalue Tech 57,480.0 0.082 +0.013 +18.84 Amplefield 34,940.0 0.007 +0.001 +16.67 Europtronic 480.0 0.017 -0.010 -37.04 Enviro-Hub 694.0 0.058 +0.011 +23.40 Mann Seng Metal 35.0 0.100 +0.005 +5.26 Wilton Resources 5,790.0 0.097 -0.003 -3.00 L-Jacoberg 104.0 0.040 +0.005 +14.29 Sunright 95.0 0.160 -0.014 -8.05 Sapphire80 words
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BROKERS’ TAKE
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Article135 2014-11-27 8 BUY Nov 26 close: S$1.94 Target price: S$2.00 DMG Research, Nov 26 A HUGE volume of 129.3 million units in Suntec Reit changed hands just minutes after the 5pm closing on Tuesday, sending the counter to the top of the most actives list 180.2 million units were traded,135 words
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Article143 2014-11-27 8 ADD Nov 26 close: S$1.895 Target price: S$2.16 CIMB Research, Nov 25 IHH’s Q3 2014 and first nine months of 2014 headline numbers were close misses to consensus and our forecasts. Core earnings for the nine months formed 70 per cent of our FY2014 estimate. The results would143 words
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Article190 2014-11-27 8 Claire Huang - Compiled by Claire Huang HOLD Nov 26 close: S$0.76 Target price: S$0.77 OCBC Research, Nov 26 EZRA’S share price has dropped by about 30 per cent since the start of September and has lost almost half of its value year-to-date. It has been one of the hardest hit190 words
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373 2014-11-27 9 TT CURRENCIES REUTERS London STERLING hit a day’s low against the US dollar and a five-day low against the euro on Wednesday after data showed that British business investment fell in the third quarter of the year. The pound dipped 0.2 per centREUTERS - 373 words
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FOREX RATES
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Article471 2014-11-27 9 Nov 26 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.963 5.250 0.686 6.632 52.916 104.022 1.007 9.464 2.862 1.090 87.029 38.422 1.112 9.374 0.825 26.428 28.042 0.544 0.855 Canada 1.038 5.451471 words
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Article155 2014-11-27 9 NOV 26 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1116 1.1122 0.8550 0.8554 Canadian dollar 1.1540 1.1547 0.8881 0.8876 Euro 1.6215 1.6217 1.2472 1.2473 NZ dollar 1.0194 1.0199 0.7841 0.7844 Sterling pound 2.0422 2.0430 1.5708 1.5713155 words
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Article22 2014-11-27 9 NOV 26 S$ Bid Offer 1-month 1.3005 1.3008 2-months 1.3006 1.3009 3-months 1.3007 1.3010 6-months 1.3008 1.3011 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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Article368 2014-11-27 9 Nov 26 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.97 *****.57 *****.99 Dec14 *****.00 *****.00 *****.00 *****.00 ***** *****3 Mar15 *****.00 *****.00 *****.00 *****.00 169 5355 MSCI TAIWAN INDEX FUTURES SPOT 340.39 341.03 339.64 Nov14 340.10 341.10 339.20 340.20 *****7 ***** Dec14 340.20368 words
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217 2014-11-27 9 Most active Nov 26 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left STI 3150 MB ePW*****7 3 -0.1 2950 0.0 --3 OCBC Bk MB eCW*****3 10 0.6 2660 0.2 1060 5 Rowsley Ltd W*****3 4.3 -0.1 2250 1 18217 words
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373 2014-11-27 9 In local curr In S$ In US$ dy yr dy yr dy yr Nov 25 Index Change Change Change Change Change Change World Preliminary 1287.3 0.1 8.7 -0.1 8.2 0.2 4.9 EAFE Preliminary 1000.1 0.3 4.6 0.3 -0.9 0.5 -3.8 Europe Preliminary 1406.9 0.3 3.8373 words
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BANK RATES
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Article154 2014-11-27 9 Nov 26 $S Offer Bid 0vernight 0.02 0.00 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.05 US$ 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 2014-11-27 9 NOV 26 (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 2014-11-27 9 Nov 26 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.57 5-Year N*****0H 1.625 01-Oct-19 100.67 100.75 100.70 10-Year NY*****H 3.000 01-Sep-24 106.29 106.40 106.38 15-Year NY*****E 2.875 01-Jul-29 102.93 103.00 102.80 20-Year NZ*****V 3.375 01-Sep-33 108.51 108.70 108.7065 words
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AGRI METALS ENERGY
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Article212 2014-11-27 9 NOV-25 Price Net change change Last Trade Agricultural Nov-25 CBOT Soybeans (US cents/bu) 1051.00 17.25 1.67% 14/01/2015 CBOT Soybean Oil (US cents/lb) 33.42 0.22 0.66% 12/12/2014 CBOT Wheat (US cents/bu) 551.50 9.25 1.71% 12/12/2014 Nov-25 LIFFE Cocoa (£/tonne) 1895.00 -21.00 -1.10% 12/12/2014 LIFFE Coffee (US$/tonne) 2095.00 -2.00 -0.10%212 words
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Article57 2014-11-27 9 NOV 26 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2206.0 2205.0 2216.0 2200.0 301 3865 Jan 15 2212.0 2239.0 2243.0 2210.0 5789 ***** Feb 15 2216.0 2240.0 2243.0 2206.0 ***** ***** Mar 15 2222.0 2243.057 words
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Advertisement51 2014-11-27 5 Standard Chartered Private Bank You want to make a difference Your business decisions have a positive impact on your local economy and community. We share your commitment and actively drive community initiatives across Asia, Africa and the Middle East. L 391 sc.com/privatebank Here for good s AV h s m.51 words
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Advertisement110 2014-11-27 6 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices h'Ji'J Cascade Draw $6 MILLION Estimated Draw on Thu, 27 Nov 2014 at 6.30pm For details, visit www.singaporepools.com.sg p |_ayA Always play with care. responsibly! Do not bet illegally. RGB Reg No: *****0202G110 words
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Advertisement21 2014-11-27 6 Dean of Fudan University: Pace of RMB internationalisation will be faster than expected To subscribe, call 6388-3838 or go to sphsubscription.com.sg21 words
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Advertisement722 2014-11-27 7 Shop ONLINE www.oaks.com.sg^ Intense aromas of citrus, fresh cut grass and some floral notes... Chateau Gazin 2000 H It's A Discovery! OAKS vine shop Usual: NOW;S$159.00 Advertising Feature ELMA Excellent Logistics Management Award Namyong Terminal Wins Excellence in Logistics Management Department of International Trade promotion, Ministry of Commerce, has organized722 words
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REAL ESTATE
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Article, Illustration838 2014-11-27 10 Kalpana Rashiwala - URA says at least 70 per cent must be for offices; it has put a cap on space for retail. Consultants say price will go past S$1,000 psf ppr By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore A MINIMUM 70 per838 words
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924 2014-11-27 10 Financing through sale of notes boosts transparency in sector flagged as the No 1 risk to the economy CHINA WATCH BLOOMBERG Singapore CHINA’S builders are selling more bonds and spurning shadow banking, boosting transparency in an industry flagged by regulatorsBLOOMBERG - 924 words
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733 2014-11-27 10 Cut is equivalent to 2.5% reduction on a 1m yuan apartment BLOOMBERG Beijing CHINA’S first interest rate cut since 2012 is set to halt a slide in property sales, reducing developers’ stock of unsold homes that has weighedBLOOMBERG - 733 words
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Article, Illustration525 2014-11-27 11 It expands criteria for foreigners to buy homes with the aim to create favourable conditions to draw foreign investment BLOOMBERG Ho Chi Minh city VIETNAM’S Parliament approved a law allowing broad foreign ownership of property, as the government seeks to boost an ailing real-estateBLOOMBERG; PHOTO: BLOOMBERG - 525 words
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223 2014-11-27 11 REUTERS Cairo DUBAI-BASED conglomerate Al-Futtaim Group said on Tuesday it would invest US$700 million in Egypt over three years and pay the government US$30.5 million as part of a settlement reached last week over a long-stand-ing land sale dispute. Mohamed al-Makkawi, Al-Futtaim’s Egypt CEO,REUTERS - 223 words
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245 2014-11-27 11 WP New York DESCENDANTS of John D Rockefeller Jr will vacate office space at 30 Rockefeller Plaza that the family has occupied for more than 80 years. The Rockefeller family will leave Room 5600, the full-floor space on the tower’s 56th storey,WP - 245 words
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Article, Illustration837 2014-11-27 12 Rising prices, strengthening currency discourage foreign investors, who helped lead the recovery, from buying BLOOMBERG Boston GROWTH in million-dollar home sales is slowing in areas including Miami, Las Vegas and Los Angeles as rising prices and the strengthening US dollarBLOOMBERG; PHOTO: BLOOMBERG - 837 words
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Article, Illustration1207 2014-11-27 13 Vacancy rates have become acute as its problems reflect the broader issues in the Russian economy MOSCOW TROUBLES NYT MOSCOW IN the coveted corner office, a bearded man in sweatpants scrambled eggs at a kitchenette, all the while taking in theNYT; PHOTO: BLOOMBERG - 1,207 words
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449 2014-11-27 13 BLOOMBERG Moscow THIS week’s opening in Moscow of Europe’s biggest shopping mall comes at an inopportune moment for investors backing the project. The Aviapark mall opens its doors on Friday, just as Russia is headed towards recession and its businesses areBLOOMBERG - 449 words
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Article, Illustration590 2014-11-27 14 Potential homebuyers are pulling back before next year’s elections, regulators have tightened financing CONTRASTS IN EUROPE BLOOMBERG London BRITAIN’S biggest mortgage lenders face faltering earnings growth as potential homebuyers pull back before next year’s general election, regulators tighten financing and the economy slows. NationwideBLOOMBERG; PHOTO: REUTERS - 590 words
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Article1508 2014-11-27 14 Property transactions for districts 1 to 22 with contract dates between Oct 15 and Oct 21,2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT -IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED The Sail Marina Bay Apt 16/10/2014 99 1184 2350 1985 District 3 NON-LANDED1,508 words
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492 2014-11-27 14 BLOOMBERG Rome AS home prices in Italy fall for the seventh year, buyers have stopped waiting for the bottom. Sales of existing homes will increase 3.7 per cent this year, marking the first gain since 2006, researcher Nomisma Institute said inBLOOMBERG - 492 words
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Advertisement33 2014-11-27 10 Attend our J* J: ERTY SEMINAR to discover property investment tips and hot Malaysian projects! Plus! Enjoy a buffet lunch and stand to win an iPhone 6 Limited seats available, register now! www.stproperty.sg/event33 words
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Advertisement316 2014-11-27 11 LAUNCH EXHIBITION 5 SUND4V 30 N0VEMBER 20,4 REGENT HOTEL, BOARDROOM II III, LEVEL III 1 CUSCADEN ROAD, SINGAPORE, *****5 0 iREAl SQUARE STRIP i STREF llll li SIREEI 1 nu m T Q BOND STREET IIMPIE e CROSS WELCOME TO 30 OLD STREET THE EPITOME OF EXCLUSIVE AND EXTRAORDINARY URBAN316 words
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Advertisement116 2014-11-27 12 for our AWARD-WINNING NEWSLETTER! Don’t have much time to read but want to stay on top of the news? Join over 90,000 people who get fresh stories from The Straits Times every day from our free newsletter. The newsletter, ST Daily News, is sent to your e-mail inbox by 7.30am116 words
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Advertisement227 2014-11-27 13 TOKYO BUILDINGS FOR SALE NEW Pominent business and entertainment center Prestigious central location Upscale residential neighborhood Vibrant international atmosphere Shinjuku Gyoen (BP No.: CIAS0007) 3-min walk from Shinjuku-Gyoenmae Station Site area 193.88 sqm 25 units ASKING PRICE JPY 798,000,000 Akasaka II (BP No.: GEA 1411-*****) 5-min walk from Akasaka Station227 words
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Advertisement12 2014-11-27 14 ch.savills.com.sg China Hong Kong Singapore ‘Taiwan Thailand Vietnam Agency no. Lsoogesse savills12 words
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BANKING & FINANCE
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Article, Illustration684 2014-11-27 15 SEC extracts US$12.5m penalty from the bank, which like Credit Suisse acknowledged wrongdoing NYT New York THE United States’ crackdown on Swiss bank secrecy gained steam on Tuesday, as HSBC’s private banking unit in Switzerland settled an investigation into how it hadNYT; PHOTO: BLOOMBERG - 684 words
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384 2014-11-27 15 REUTERS London BAD behaviour that has cost British banks £38.5 billion (S$78.7 billion) in fines and compensation over the past 15 years will take a generation to fix, an independent think tank said on Tuesday. Britain’s banks have beenREUTERS - 384 words
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Article, Illustration537 2014-11-27 15 Investors are sceptical about prospects, workers worry about loosening govt grip REUTERS Mumbai INDIA’S state-run banks face major obstacles in their plans to raise as much as US$60 billion in new capital over the next few years, with investors scepticalREUTERS; PHOTO: BLOOMBERG - 537 words
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Advertisement1744 2014-11-27 15 The Business Times NOTICES Toll free 1800-289-8822 Email notices@sph.com.sg www.sphclass.com.sg/notices LIONGOLD CORP NOTICE OF SPECIAL GENERAL MEETING Unless otherwise defined or the context otherwise requires, all capitalized terms herein shall bear the same meaning as used in the circular dated 27 November 2014 issued by the Company (the “Circular”). An1,744 words
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ENERGY & COMMODITIES
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978 2014-11-27 16 Petroleum exporters’ decision at Thursday summit will have global consequences, especially for countries that rely largely on imported oil BLOOMBERG New Delhi INDIAN Prime Minister Narendra Modi has oil to thank for helping an economic revival in his country. Whether his luck holdsBLOOMBERG - 978 words
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Article, Illustration921 2014-11-27 16 BLOOMBERG Houston NO matter what Opec countries decide on Thursday about cutting oil output, US producers already know what they’re going to do: drill on. As Saudi Arabia and its 11 fellow members of the Organisation of Petroleum ExportingBLOOMBERG; PHOTO: BLOOMBERG - 921 words
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284 2014-11-27 16 REUTERS Sydney THE number of resource projects reaching financial commitment in Australia has fallen as sagging minerals and energy prices lead companies to tighten their belts, the government’s chief commodities forecaster said on Wednesday. In the six months to October, just threeREUTERS - 284 words
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221 2014-11-27 16 Reuters Bangkok AROUND 50 Thai rubber farmers gathered outside Bangkok’s Government House on Tuesday, in defiance of martial law, to protest a draft rubber law and to demand the government buy their produce at higher prices. Farmers in the world’s top rubber producer have threatenedReuters - 221 words
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Advertisement225 2014-11-27 16 Form 14 NOTICE TO CREDITORS OF FIRST MEETING KRISTON FOOD BEVERAGE PTE LTD (IN COMPULSORY LIQUIDATION) (Co Reg. No. *****5795R) (Under the Order for winding up the abovenamed company dated the 29 th day of June 2012) Notice is hereby given that the first meeting of the creditors in the225 words
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Advertisement46 2014-11-27 16 OPPIC^XPO ASIA 2015 The Next-Generation Workscape 29-31 JULY 2015 Marina Bay Sands, Singapore www.OfficExpoAsia.com •Cloud Solutions for Small Medium Enterprises Next-Gen Business Solutions Document Imaaina Solutions Interested to exhibit? Tel: (65) 6848 5938 Email: OEA@bizlink.com.sg Organised By: BIZLINK Exhibition Services Pte Ltd A SUBSIDIARY OF SfJl46 words
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Advertisement55 2014-11-27 16 HOT PROPERTY LEONIE GDNS!! GREENERY 2540sf. 4+1. Tranquil. New Gym. Resort facilities. MRT Reno kitchen. ASPEN HGTS 1582 sf. 4+1. High flr, Pool view. F/ furn, Clarke Quay MRT. $6.1k. Immed. UE SQUARE 2/3 bdrms $4.8k onwa-rds. P/F/furn. Immed PRIVATE APARTMENTS FOR RENT Check this and many other properties in55 words
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TECHNOLOGY
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Article, Illustration413 2014-11-27 17 REUTERS San Francisco HEWLETT-PACKARD Co (HP) said its quarterly revenue fell in almost every business segment over the year, highlighting weaknesses ahead of the company’s planned 2015 separation of its enterprise services from its traditional computer and printing units. Sales fellREUTERS; PHOTO: AFP - 413 words
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Article, Illustration306 2014-11-27 17 AFP Montreal CANADIAN smartphone maker BlackBerry is wooing Apple customers with a cash offer for trade-ins of iPhones for its new square-screened, keyboard-equipped Passport. The promotion was announced late Monday and will be available starting next month until Feb 13, in Canada and theAFP; PHOTO: AFP - 306 words
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770 2014-11-27 17 New division under CEO is developing products and services that don’t fit the mould of group’s existing businesses BLOOMBERG Tokyo SONY Corp is developing a watch made out of electronic paper for release as soon as next yearBLOOMBERG - 770 words
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Page 17 Advertisements
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Advertisement125 2014-11-27 17 7 Your business, always ON. What does 1 hour of downtime cost your business? With Schneider Electric, avoid costly power problems and gain unprecedented visibility to control your energy consumption while ensuring that your people and assets are always connected and protected. Our data centre energy management solution provides an125 words
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CONSUMER
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604 2014-11-27 18 Claire Huang - Platform, which will also be rolled out to other Asian markets, will allow easy purchase of insurance products By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE United States’ largest life insurer, MetLife Inc, on Wednesday rolled out a new digital platform in604 words
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Article, Illustration657 2014-11-27 18 BLOOMBERG New York AN estimated 140 million US shoppers will hit stores and the Web this weekend in search of post-Thanksgiv-ing discounts, kicking off what retailers predict will be the best holiday season in three years. While the number of customersBLOOMBERG; PHOTO: BLOOMBERG - 657 words
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796 2014-11-27 18 821,000 workers will be hired for retail jobs this year, up 11% from a year ago BLOOMBERG Atlanta WANDA Tucker was hired on the spot for a part-time job with Gap Inc’s Banana Republic chain earlier this month afterBLOOMBERG - 796 words
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Article, Illustration666 2014-11-27 18 AFP London AS Christmas nears, British television screens are filled with heart-warming tales of lonely penguins, family reunions and homesick soldiers in an attempt to get customers to part with their cash. More and more retailers are ditching traditionalAFP; PHOTO: AFP - 666 words
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Advertisement366 2014-11-27 18 MR ROBERT C S TAY LEARN THE WINNING STRATEGIES OF INVESTMENT LEGENDS WARREN BUFFETT, BEN GRAHAM, PHILLIP FISHER, PETER LYNCH AND JOHN TEMPLETON! COURSE HIGHLIGHTS To empower participants with the tactical knowledge and expertise in stock valuation, certainly a useful tool in volatile markets. A key focus of the course366 words
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TRANSPORT
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Article, Illustration1212 2014-11-27 20 Airlines merging and consolidating operations in fewer hubs have left four big carriers controlling about 80% of airlines’ seat capacity, down from 11 in 2005 NYT New York THANKSGIVING weekend has traditionally been the busiest time of the year for air travel, butNYT; PHOTO: BLOOMBERG - 1,212 words
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309 2014-11-27 20 REUTERS Sydney AUSTRALIA is working on new drift modelling to expand the geographical area in which wreckage from missing Malaysian Airlines flight MH370 may come ashore, the Australian search coordinator said on Wednesday. Initial analysis had suggested that the first debris from theREUTERS - 309 words
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239 2014-11-27 20 REUTERS Sydney THREE of Australia’s largest infrastructure funds plan to bid for the country’s largest container terminal in a sale expected to fetch about A$5 billion (S$5.5 billion) for Victoria state, a source with knowledge of the process said on Wednesday.REUTERS - 239 words
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Article, Illustration590 2014-11-27 20 BLOOMBERG New Delhi BOEING Co, the world’s largest planemaker, is considering investing in India as Prime Minister Narendra Modi eases rules for foreign investment in the defence sector and expedites arms contracts. The Chicago-based aerospace company is in the process of identifyingBLOOMBERG; PHOTO: AFP - 590 words
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Advertisement20 2014-11-27 20 DECEMBER ISSUE OUT NOW! GET YOUR COPY N W FROM THE NEWS STAND OR VISIT WWW.TORQUE.COM.SG/SUBSCRIPTION TO SUBSCRIBE TOTORQUE WWW.TORQUE.COM.SG20 words
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Advertisement37 2014-11-27 20 RETURN OF GOVINDA Bollywood superstarof ’80sand’90 onhissecon innings s d PwC on how India can grow into a US$10 trillion economy GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)37 words
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GOVERNMENT & ECONOMY
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704 2014-11-27 21 Pauline Ng - UN report says the positive effects of the affirmative-action New Economic Policy (NEP) have faded. It has instead skewed distribution of wealth and bred dependency and graft By Pauline Ng Kuala Lumpur DESPITE continuing economic growth, Malaysia’s middle class remains small at 20704 words
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Article, Illustration401 2014-11-27 21 AFP Hong Kong HUNDREDS of Hong Kong police on Wednesday cleared a pro-democracy protest camp, arresting Joshua Wong and another student leader and reopening a main road that has been blocked for almost two months. Pushing back protesters, police withAFP; PHOTO: AFP - 401 words
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Article, Illustration610 2014-11-27 22 EU Commission chief wants the world to know that ‘Europe is back in business’ AFP Strasbourg NEW EU Commission chief JeanClaude Juncker on Wednesday unveiled an eagerly awaited US$392 billion investment plan to “kickstart” the economy, saying it would show the world that EuropeAFP; PHOTO: REUTERS - 610 words
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Article, Illustration384 2014-11-27 22 Household spending increases 0.8% in Q3, the most since Q2 2010 BLOOMBERG London THE biggest increase in consumer spending in more than four years drove the UK economy to a seventh straight quarter of growth, asBLOOMBERG; PHOTO: BLOOMBERG - 384 words
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371 2014-11-27 22 BLOOMBERG Berlin CHANCELLOR Angela Merkel’s coalition has agreed to move forward with a plan to mandate that more women fill non-executive posts at German companies. The governing Christian Democrats and Social Democrats will require listed companies to allocate 30 per centBLOOMBERG - 371 words
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407 2014-11-27 22 REUTERS Brussels EUROPEAN campaigners against an EU-US accord have held up progress towards the world’s biggest free trade deal by deluging an online public consultation that European Union officials had hoped would help them unblock a key issue. Of almost 150,000 submissions toREUTERS - 407 words
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231 2014-11-27 22 REUTERS Tokyo THE Bank of Japan has given its governor something the government wishes all private-sector employees in Japan could get a pay rise that might help make the policy dubbed “Abenomics” work. The pay-hike is the first in nine years for BOJ’sREUTERS - 231 words
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456 2014-11-27 22 Anger over shooting should be directed into political action to change system, he says BLOOMBERG Washington US President Barack Obama acknowledged the anger of minority communities over their treatment by police and urged them not to let their frustrations boil over into theBLOOMBERG - 456 words
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Article, Illustration651 2014-11-27 23 Leaders of the eight South Asian Association for Regional Cooperation countries are meeting for the first time since the election of a new government in New Delhi AFP Kathmandu SOUTH Asian leaders met in Kathmandu on Wednesday with regional superpower India seekingAFP; PHOTO: AFP - 651 words
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577 2014-11-27 23 S Jayasankaran - By S Jayasankaran Kuala Lumpur THE growing risk posed by returning Malaysians allied to the Islamic State for Iraq and Syria (ISIS) and proselytising its cause locally has prompted the Malaysian government to propose a new law to counter577 words
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Page 21 Advertisements
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Advertisement498 2014-11-27 21 I 1 I -z 0.01 "/.I n-KH THE BUSINESS TIMES i" ■I i 1 I’M mini MAYBANK KIM ENG Invest Asia 2015 > REGISTER for the seminar now at www.maybank-ke.com.sg What lies ahead for you, the investor, in 2015? Hear from our distinguished panel of speakers at this seminar as498 words
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Advertisement9 2014-11-27 22 I www.omy.sg w s *E r a X lifestyle.omy.sg9 words
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Advertisement406 2014-11-27 23 STPR#PERTY Expo 2014 STProperty collaborates with Malaysia's most established developers to give you an edge in your investment portfolio! DATE: Saturday, 29 Nov 2014 Sunday, 30 Nov 2014 VENUE: SUNTEC Singapore Convention Exhibition Centre Level 3 Summit 1 and 2, Rooms 321 322 TIME: 10.30am-7.00pm PRE-REGISTER NOW at WWW.STPROPERTY.SG/EVENT FOR406 words
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OPINION
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536 2014-11-27 24 EDITORIAL WHETHER Singapore is experiencing disinflationary pressures and what that might mean for the economy were the inevitable questions that followed Monday’s inflation release showing that consumer prices in October barely rose 0.1 per cent from a year ago. This was the lowest536 words
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Article, Illustration832 2014-11-27 24 Frank Ching - TT THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE frosty handshake between Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe on the margins of the Asia-Pacific Economic832 words
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Article, Illustration1282 2014-11-27 24 Leon Hadar - Even the strongest Republican critics of Obama’s proposals don’t have an alternative plan for what to do with the millions of illegal immigrants and their children who grew up in the US By Leon Hadar Washington FOR most of the decades that followedPHOTO: BLOOMBERG - 1,282 words
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Article881 2014-11-27 25 Daniel Gros - TT COMMENTARY By Daniel Gros T The writer is director of the Centre for European Policy Studies Brussels A STORM-TOSSED ship near dangerous cliffs needs a strong anchor to avoid finishing on the rocks. In 2012, when a financial storm engulfed the eurozone, it was881 words
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365 2014-11-27 25 Bey Mui Leng (Ms - TT LETTER TO THE EDITOR Bey Mui Leng (Ms) Director (corporate communications) Monetary Authority of Singapore WE refer to the article by R Sivanithy, “Reinvent rules for remisiers” (BT, Nov 18). He mentioned that trading representatives (TRs) of broking houses are prohibited from365 words
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Article, Illustration2210 2014-11-27 25 Vikram Khanna - Martin Wolf offers a masterly post-mortem of the Great Recession and after By Vikram Khanna DURING an interview with me in June 2007 (published in BT on July 7), Timothy Geithner, then chief of the New York Fed, which regulates Wall Street banks, didn’t seemPHOTO: ARTHUR LEE - 2,210 words
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Article966 2014-11-27 26 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Advance 328E 03 Dec 19 Dec 02 Jan 06 Jan 09 Jan 12 Jan 14 Jan 15 Jan 19 Jan 21 Jan 21 Jan 26 Jan966 words
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Advertisement194 2014-11-27 26 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE n the business times Shipping ties 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 w w Announce Your Corporate194 words
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LIFE & CULTURE
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Article, Illustration445 2014-11-27 27 Lee U-Wen - Under their partnership, fans of mixed martial arts or MMA across the world can watch and comment on the fights hosted on FB in real time By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore SOCIAL networking platform Facebook has formed a partnership with Singapore-based445 words
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Article, Illustration864 2014-11-27 27 NYT New York ERNIE Button, a photographer in Phoenix, found art at the bottom of a whiskey glass. Howard A Stone, a mechanical and aerospace engineering professor at Princeton University, found the science in the art. Eight years ago, MrNYT; PHOTOS: NYT - 864 words
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665 2014-11-27 27 Friendsgiving a new American tradition WP Washington SHAUNA Alexander’s Friendsgiving story began in the traditional way: She was avoiding her family. “I was having some tough times with my parents as one does when they’re 25,” she recalls. “It was just growing pains with the folks.” So, instead of goingWP - 665 words
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Article, Illustration331 2014-11-27 27 AFP Manila A FILIPINO woman has been reunited with her dog a year after the pet went missing in the chaos of the country’s deadliest ever typhoon, she told AFP on Tuesday. The nine-year-old mongrel named Bunny survived giantAFP; PHOTO: AFP - 331 words
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Page 27 Miscellaneous
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Miscellaneous341 2014-11-27 27 CRYPTIC CROSSWORD Across 1 Sham trial (5) 4 Frank reveals personal facts about writer without permission (9) 9 Beastly creatures emerge in a cast (9) 10 Unusual time Lawrence’s initially spent making bouquet (5) 11 A centre for Libyans in poor housing, offering places of refuge (7) 12 Particular keys341 words
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