The Business Times, 10 February 2015
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2015-02-10
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The Business Times
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Title Section24 2015-02-10 1 THE BUSINESS TIMES S$1.00 S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, February 10,201524 words
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DAILY DIGEST
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34 2015-02-10 1 of advanced and emerging economies are expected to renew their commitment to “going for growth” in their economies during their two-day meeting in Istanbul Tuesday. TOP STORIES 234 words
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Article29 2015-02-10 1 innovation,in terms of products and services, is expected as the push to make Singapore the world’s first Smart Nation gathers pace. TOP STORIES 429 words
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Article, Illustration33 2015-02-10 1 McLarenis understood to be getting a new dealer three years after Wearnes Automotive introduced it to Singapore, and that an official announcement will be made shortly.TOP STORIES 633 words
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48 2015-02-10 1 groundon Monday as analysts slashed earnings forecasts, following a HK$19 billion (S$3.32 billion) impairment charge on goodwill allocated to its cash-generating unit in Hong Kong, which dragged the trust into a net loss of HK$18.6 billion in Q4 FY14. COMPANIES MARKETS 1048 words
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35 2015-02-10 1 cutto a record low of 2.25 per cent last week is expected to benefit developers with property assets and building projects Down Under, as well as those eyeing acquisitions. REAL ESTATE/1435 words
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Article, Illustration651 2015-02-10 1 Andrea Soh - By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore CRUDE oil prices continued its rally on Monday as Opec gave a brighter outlook for market fundamentals this year, but analysts warned that the boost in the market is likely to be temporary. The drop inSource: Bloomberg - 651 words
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Article27 2015-02-10 1 Monday Change STI 3418.02 -13.34 KL COMP 1,811.58 -1.67 NIKKEI 225 17,711.93 +63.43 HANG SENG 24,521.00 -158.39 SHENZHEN B 1,072.74 +2.21 DOW (11am EST) 17,736.76 -87.5327 words
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1666 2015-02-10 1 Kelly Tay - The Auditor-General’s Office says ‘there is no assurance that council’s accounts are accurate and reliable, or that public funds are properly managed’ By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore THE Auditor-General’s Office (AGO) has found several major lapses in the1,666 words
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Page 1 Advertisements
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Advertisement15 2015-02-10 1 ||llllllllllll||llllllllllll|| 8 *****1 *****4 STOCK EXCHANGES No looking back after advent of Internet Age OPINION/2715 words
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Advertisement27 2015-02-10 1 WEALTH MANAGEMENT Singapore’s ranking as a hub falls to 6th spot TOP STORIES 2 FINANCE Banks’ Q4 results: eyes on loan guidance, asset quality COMPANIES MARKETS 827 words
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Advertisement129 2015-02-10 1 CHILI CRABS Challenges facing Red House SME 30 INESSENCE BESPOKE RESIDENCES BY FAR EAST ORGANIZATION boulevard FREEHOLD 37 A I jr it a V r Exclusive residences designed by award-winning architect, Takashi Sugimoto of Super Potato. Enjoy the unique luxury of Orchard Road living. Immediate Occupation For a private viewing129 words
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TOP STORIES
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Article, Illustration587 2015-02-10 2 Genevieve Cua - Hong Kong takes over Republic’s previous 5th ranking globally after a big 2008-2014 jump in cross-border client assets By Genevieve Cua gen@sph.com.sg Singapore SINGAPORE’S global ranking as a wealth-management centre dropped a notch from fifth to sixth place at the end ofPHOTO: BLOOMBERG - 587 words
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799 2015-02-10 2 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo FINANCE ministers from the G-20 group of advanced and emerging economies are expected to renew their commitment to “going for growth” in their economies during their two-day meeting in Istanbul on Monday, though the Organisation799 words
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717 2015-02-10 4 Amit Roy Choudhury - This is likely to create world-class players in the smart cities market; IDA starts industry roundtables on the project By Amit Roy Choudhury amit@sph.com.sg @AmitRoyCBT Singapore A BURST of local innovation, in terms of products and services, is expected as the717 words
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427 2015-02-10 4 Chan Yi Wen - By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore SINGAPORE ranks 10th globally in the Inaugural Sustainable Cities Index from Arcadis, a global natural and built asset design and consultancy firm, faring lower than other Asia-Pa-cific cities such as Hong Kong and Seoul.427 words
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Article, Illustration581 2015-02-10 4 BLOOMBERG Canberra AUSTRALIA’S Prime Minister Tony Abbott thwarted a leadership challenge, but failed to end speculation that his position is under threat after almost 40 per cent of his Liberal Party colleagues voted against him. Liberal lawmakers voted by 61 to 39 against a motionBLOOMBERG - 581 words
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Article, Illustration591 2015-02-10 4 Fiona Lam - By Fiona Lam fionalam@sph.com.sg Singapore THE Asean Economic Community (AEC), due to launch by this year-end, faces challenges in terms of regulation, corruption, and political and religious stability, speakers at the Stars Symposium said on Monday. For one thing, the 10 Asean countries591 words
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604 2015-02-10 4 BLOOMBERG Athens GREEK Prime Minister Alexis Tsipras reaffirmed his government’s rejection of the country’s international bailout programme before Wednesday’s emergency meeting of the euro area’s finance ministers to discuss the country’s financing needs. “We need an honest negotiation with our partnersBLOOMBERG - 604 words
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Article, Illustration517 2015-02-10 6 Samuel Ee - The Eurokars Group, which also represents Rolls-Royce, Porsche, Mini and Mazda here, takes over from Wearnes By Samuel Ee samuelee@sph.com.sg Singapore McLAREN is set to zip from one end of Leng Kee Road to the other very soon. It is understood thatFILE PHOTO - 517 words
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Article, Illustration756 2015-02-10 6 Anita Gabriel - By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore A MAJOR controversy is threatening to blow wide open in Malaysia which may see troubled state-owned 1 Malaysia Development Bhd caught in the cross-fire involving high-profile Malaysian personalities. On one side of the fence isPHOTO: THE STAR - 756 words
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Advertisement168 2015-02-10 2 tHwsta PRESTIGIOUS WEALTH MANAGEMENT I ■yj li Such partnerships grow in trust and respect, becoming more rewarding over time. Embark on a relationship with our Prestigious Wealth Management Unit ("PWMU") and enjoy ttractive interest rates and a welcome gift of SGD 500 Takashimaya Singapore vouchers. KcUfionjkipJ Hufdwti. Vj/uej Huff Ujf168 words
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Advertisement52 2015-02-10 6 Meat Loaf. The Cranberries. d Hot Chili k rs Hungry like the Wolf. Introducing the all NEW radio station playing only REAL MUSIC. Tune in now! 9 3 t*n facebook.com/onefmsg ©onefmsg www.onefm.sg Download on the w AppStore GET IT ON p* Google play ONE FM IS PART OF THE SPH52 words
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COMPANIES & MARKETS
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470 2015-02-10 8 Jamie Lee - December bank lending shows signs of weak growth; analysts watching impact of oil, property exposure By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore AS the three Singapore banks report their fourth quarter results this week, analysts will watch for any hits in asset470 words
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440 2015-02-10 8 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore DEPARTMENT store operator Parkson Retail Asia reported a 24.6 per cent year-on-year slide in net profit to S$10.2 million for the second quarter ended Dec 31, 2014. The bottom line was impacted by losses from440 words
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581 2015-02-10 8 Chan Yi Wen - By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore INTEGRATED coal-mining group Geo Energy Resources has entered into a cooperative agreement with a Chinese state-owned enterprise, China Nuclear Industry 22nd Construction (CNI22), to jointly develop coal-fired power stations in Indonesia. CNI22581 words
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551 2015-02-10 8 Lynette Khoo - By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore RIDING on currency translation gains, Yoma Strategic Holdings’ net profit for its fiscal third quarter ended Dec 31, 2014 (Q3 FY2015) surged 49.8 per cent year-on-year to S$7.8 million. Net profit for the first nine months of the551 words
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Article296 2015-02-10 8 Samuel Ee - By Samuel Ee samuelee@sph.com.sg Singapore VICOM’S net profit for the year ended Dec 31, 2014, rose 6 per cent to S$30.1 million from 12 months earlier, with revenue inching up 3 per cent to S$ 108.2 million. No fourth quarter numbers were given. Vicom is296 words
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Article, Illustration704 2015-02-10 10 Chan Yi Wen - Counter falls 4.86% to US$0.685, dragging STI down by about 2.8 points HOT STOCK By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore THE counter of Hutchison Port Holdings Trust (HPH Trust) lost ground on Monday as analysts slashed earnings forecasts, following aSource: Bloomberg - 704 words
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Article, Illustration505 2015-02-10 10 Cai Haoxiang - By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore CATALIST-listed oil exploration and production firm Rex International said it plans to take advantage of the lower cost of drilling services and participate in the drilling of eight wells this year: three in Norway, two in Oman,505 words
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340 2015-02-10 10 Cai Haoxiang - By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore THE China property slowdown continued to weigh on cranemaker Yongmao Holdings, which reported a net profit of 7.4 million yuan (S$ 1.6 million) for its third quarter ended Dec 31,2014, down 40 per cent from 12.4 million340 words
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147 2015-02-10 10 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore DYNA-MAC on Monday said it has secured a letter of award with the “preliminary sum” of about S$60 million for the construction of six units of floating production, storage and offloading (FPSO) topsides modules from Armada Cabaca.147 words
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340 2015-02-10 10 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore KOP Ltd, whose businesses encompass the property and entertainment industries, said on Monday that a stake divestment gain has put the company back in the black for the fiscal third quarter. The company,340 words
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258 2015-02-10 10 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore CHUAN Hup Holdings on Monday said it would sell its 24.7 per cent stake in CH Offshore worth S$95.7 million to Falcon Energy Group, after the latter sweetened the offer. Falcon, an offshore marine and resources258 words
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382 2015-02-10 11 It is also considering starting a Dubai desk for Japanese corporate clients keen to expand in Middle East BLOOMBERG Tokyo STANDARD Chartered plc, the UK bank that’s cutting US$400 million of costs, will consider starting a desk in Dubai for JapaneseBLOOMBERG - 382 words
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Article, Illustration434 2015-02-10 11 Kalpana Rashiwala - By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore KEPPEL Land has announced its first London investment in about two decades, with the £91 million (S$ 187.5 million) purchase of a nine-storey freehold office block. It said on Monday evening that it has inked a434 words
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IN BRIEF
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67 2015-02-10 11 THE trustee-manager of Ascendas India Trust on Monday said it plans to acquire Cybervale from its sponsor Ascendas Group for about S$35.2 million. CyberVale is an IT special economic zone with about 600,000 square feet (sq ft) of built-up area. The property67 words
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61 2015-02-10 11 FABRICATION services firm AusGroup on Monday said net profit attributable to owners for its fiscal second quarter fell 59.9 per cent to A$920,000 (S$974,000). Other operating income fell 79% to A$592,000 as the year-ago period recognised a one-off profit from a61 words
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37 2015-02-10 11 Sing Investments Finance full-year profit up 10.4% SING investments Finance said net profit for its fiscal full-year rose 10.4 per cent to S$12.7 million. Net interest income and hiring charges gained 8.4 per cent at S$32.6 million.37 words
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46 2015-02-10 11 ELLIPSIZ Ltd, which makes probe cards used by chip makers, said second-quarter profit rose 41 per cent to S$1.74 million on firmer gross margins. Gross profit rose 15 per cent, as cost reduction outpaced a weakening of sales.46 words
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Article, Illustration63 2015-02-10 12 STI Catalist Straits Times Index Feb 9,2015 3,418.02 -13.34 (-0.39%) Current streak 1 day Day high 3,434.48 Day low 3,416.26 52-week high 3,431.36 (Feb 6, 2015) 52-week low 3,017.20 (Feb 10, 2014) FTSE ST Catalist index Feb 9,2015 729.51 -2.25 (-0.31%) Current streak 5 days Day high 732.41 Day low63 words
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Article, Illustration666 2015-02-10 12 R Sivanithy - Falls in Keppel and Hutchison Port weigh on index in quiet trading day STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT After the volatility of last week, the Straits Times Index kicked off this week with a quiet session on Monday, drifting within a narrowSource: Bloomberg - 666 words
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Article305 2015-02-10 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 246 -5 249/244 263 212 5.8 6219.7 CapitaLand 350 -5 355/347 364 268 17.5 2.3 *****.6 CapitaMall Trust 218 -1 219/215 226 180 5 7562.5 CityDev 1020 +2 1024/1015 1118 907 13.8305 words
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Article38 2015-02-10 12 VOLUME HPH Trust USD 93,119,500 IHC 67,220,100 Golden Agri-Res 50,554,900 APAC Strategic 48,220,600 Equation 41,965,000 Market volume 1,291,777,000 VALUE Keppel Corp 100,287,292 DBS Grp 86,194,971 HPH Trust USD 85,679,071 SingTel 50,177,057 CapitaLand 49,114,684 Market value 1,068,671,00038 words
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Article106 2015-02-10 12 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap Lyxor Asia US$ US509 196 511/509 543/455 509/511 74.3 IS MS India US$ US780 -14 155 796/777 1000/567 776/780 97.5 DBXT CSI300 US$ US918 -7 141 933/918 1044/613 910/960 UETF SSE50China 217 +3 136 220/213 238/140106 words
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Article77 2015-02-10 12 Feb 9 VALUE CLOSE BT OB/OS -148.00 -64.00 BT CADI -*****.00 -112.00 BT 10-day MA -*****.00 -15.00 FTSE ST Mid Cap 785.32 -1.56 FTSE ST Small Cap 501.20 -1.11 FTSE ST All Share 822.19 -2.86 FTSE ST China Top 193.95 -1.67 FTSE ST China 235.31 -2.09 FTSE77 words
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Article77 2015-02-10 12 BY CENTS CLOSE UP 52w high/low Lyxor Indonesia US$ 9061 157.1 1.3 9636/8000 DBXT ASX200 US$ 3780 109.7 2.2 4403/3530 Lyxor US DJIA US$ 1810 58.2 2.4 1900/1629 IS ASIA HYG S$D 1428 58.0 4.2 1450/1330 Lyxor Europe US$ 1439 36.6 1.9 1678/1338 BY PERCENTAGE CLOSE UP 52w high/low77 words
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Article, Illustration35 2015-02-10 12 STI FTSE ST All-Share FTSE ST All-Share index Feb 9,2015 822.19 -2.86 (-0.35%) Current streak 1 day Day high 825.22 Day low 821.89 52-week high 825.05 (Feb 6, 2015) 52-week low 734.36 (Feb 10, 2014)35 words
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Article, Illustration32 2015-02-10 12 STI MSCI EAFE MSCI EAFE index Feb 6,2015 1,812.12 -8.63 (-0.47%) Current streak 1 day Day high 1,829.19 Day low 1,809.30 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7,2015)32 words
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Article186 2015-02-10 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 6 5 0 0 0 5 6 5 Manufacturing 32 66 69 9 8 21 41 74 90 Commerce 10 29 35 4 8 7 14 37 42 Tpt/Stor/Comms 4 19 18186 words
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Article123 2015-02-10 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 29,833 29,833 127,622 127,622 Manufacturing 125,206 70,439 195,645 71,092 2,626 73,718 Commerce 64,345 36,370 100,715 61,512 2,424 63,936 Tpt/Stor/Comms 167,795 2,918 170,713 218,472 978 219,451 Finance 15,425 77 15,502 157,557 18 157,575 Construction 39,842 4,802123 words
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Article71 2015-02-10 12 BY CENTS CLOSE DOWN 52w high/low GLD US$ ***** -365.6 -2.2 *****/***** SPDR S&P500 US$ ***** -92.1 -0.3 *****/***** SIA 1184 -29.0 -2.4 1291/944 DBXT MSINDIA US$ 1099 -28.4 -1.9 1148/805 Keppel Corp 868 -25.0 -2.8 1120/791 BY PERCENTAGE CLOSE DOWN 52w high/low BlueSkyPower 5.3 -26.4 -1.9 18.5/3.7 Magnus71 words
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Article79 2015-02-10 12 VOL CLOSE($) CHANGE Metech Intl 10,316.0 0.005 -0.001 -16.67 Equation 41,965.0 0.008 +0.001 +14.29 Informatics 4,984.9 0.049 +0.004 +8.89 ABR 55.0 0.750 +0.015 +2.04 Teho Intl 67.1 0.169 -0.026 -13.33 Lafe 374.0 0.033 +0.002 +6.45 Far East 25.0 0.151 +0.011 +7.86 Loyz Energy 5,185.9 0.084 -0.005 -5.62 Versalink79 words
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BROKERS’ TAKE
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Article125 2015-02-10 12 Hold Feb 9 close: US$0.685 Target price: US$0.68 OCBC Investment Research, Feb 9 HPHT swung to a Q4 2014 loss mainly due to a HK$19 billion (S$3.3 billion) impairment charge. FY 2014 distribution per unit is 41 HK cents, but management has guided for FY 2015125 words
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Article132 2015-02-10 12 Buy S$11.84 Feb 9 close: S$11.84 Target price: S$12.90 DBS Group Research, Feb 9 Despite weaker than expected operating earnings, we remain confident that SIA’s earnings performance in future quarters will be better given the lower cost of fuel. The group’s balance sheet remains strong with over S$3.5132 words
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Article195 2015-02-10 12 Cai Haoxiang - Compiled by Cai Haoxiang Hold Feb 9 close: S$1.225 Target price: S$1.02 Maybank Kim Eng Research, Feb 5 Super is on its way to a recovery in almost all its major markets in 2015. Q3 2014 likely marked the bottom for its falling sales and margins. Its momentum195 words
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462 2015-02-10 13 CURRENCIES REUTERS London THE yen gained against the US dollar and euro on Monday as investors fretted over the conflict in Ukraine as well as Greece’s future in the eurozone. In his first major speech to Greece’s parliament, Prime Minister Alexis TsiprasREUTERS - 462 words
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FOREX RATES
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Article471 2015-02-10 13 Feb 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.973 4.857 0.685 6.026 48.319 98.328 0.924 8.519 2.769 1.053 78.643 34.477 1.053 8.949 0.720 24.513 25.356 0.509 0.777 Canada 1.028 4.993471 words
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Article155 2015-02-10 13 Feb 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0523 1.0528 0.7772 0.7774 Canadian dollar 1.0817 1.0824 0.7993 0.7989 Euro 1.5356 1.5362 1.1341 1.1344 NZ dollar 0.9990 0.9997 0.7378 0.7382 Sterling pound 2.0658 2.0666 1.5257 1.5261155 words
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Article22 2015-02-10 13 Feb 9 S$ Bid Offer 1-month 1.3545 1.3550 2-months 1.3550 1.3556 3-months 1.3556 1.3563 6-months 1.3569 1.3577 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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209 2015-02-10 13 Feb 09 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****0 14.7 1.8 8091 0.2 1980 2 DBS MB ePW*****2 9.5 -1.6 6928 0.2 1910 2 OCBC Bk MB eCW*****3 7.1 0.2 3876 0.2 1060209 words
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373 2015-02-10 13 In local curr In S$ In US$ dy yr dy yr dy yr Feb 6 Index Change Change Change Change Change Change World Preliminary 1304.4 0.3 2.2 0.5 3.1 0.0 1.1 EAFE Preliminary 1030.7 0.1 4.4 0.0 4.1 -0.5 2.1 Europe Preliminary 1457.4 -0.1 5.5373 words
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Article375 2015-02-10 13 Feb 9 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.31 *****.49 *****.61 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Jun15 *****.00 *****.00 *****.00 *****.00 8 4242 MSCI TAIWAN INDEX FUTURES SPOT 350.07 350.30 348.03 Feb15 350.70 351.70 347.80 349.80 ***** *****7 Mar15 350.80375 words
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BANK RATES
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Article36 2015-02-10 13 Feb 9 (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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Article154 2015-02-10 13 Feb 9 $S Offer Bid 0vernight 0.10 0.05 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6875 0.5625 Overnight mode: 0.30 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12154 words
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Article69 2015-02-10 13 Feb 9 Feb 9 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 103.19 103.28 103.20 5-Year N*****0H 1.625 01-Oct-19 100.81 101.00 100.85 10-Year NY*****H 3.000 01-Sep-24 108.91 109.05 108.70 15-Year NY*****E 2.875 01-Jul-29 106.21 106.30 106.00 20-Year NZ*****V 3.37569 words
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AGRI METALS ENERGY
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Article252 2015-02-10 13 Feb-6 Price Net change change Last Trade Agricultural Feb-6 CBOT Soybeans (US cents/bu) 973.50 -7.75 -0.79% 13/03/2015 CBOT Soybean Oil (US cents/lb) 31.82 0.11 0.35% 13/03/2015 CBOT Wheat (US cents/bu) 527.00 1.25 0.24% 13/03/2014 Feb-6 LIFFE Cocoa (£/tonne) 1957.00 23.00 1.19% 16/03/2015 LIFFE Coffee (US$/tonne) 1933.00 11.00 0.57%252 words
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Page 10 Miscellaneous
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Miscellaneous46 2015-02-10 10 THE BROKER by low chin yee THEY SAID REDUCING THE BOARD LOT SIZE WILL INCREASE THE TRADING VOLUME.... s UP TILL NOW, I DO NOT SEE ANY INCREASE IN THE TRADING VOLUME. o« WHEN THEY SAID "VOLUME", THEY WERE TALKING ABOUT THE SOUND, NOT THE NUMBER.46 words
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Advertisement308 2015-02-10 11 FUTURE I i t ii i i i i i a C H IN A ADVANCED LEADERS PROGRAMMl Grooming future leaders to pe “China-ready“China-sa and “Connected” APPLY NOW! ''Despite having first-hand experience of the cultural differences during my five years in China, I still find the course very enlightening as308 words
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Advertisement398 2015-02-10 11 m SCALING NEW HEIGHTS. MAKING THE DIFFERENCE IN PEOPLE'S LIVES. Their science has made an impact on the economy and society. Has yours? President’s Science Technology Awards 2015 PTA 2014 Winners Prof Wong Tien Yin (SERI), Prof Wynne Hsu and Prof Lee Mong Li (NUS) PSTM 2014 Winner PSA 2014398 words
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REAL ESTATE
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Article, Illustration1138 2015-02-10 14 Lee Meixian; Prisca Ang - But borrowing rates still considered high, and strict lending will limit the odds of an investor-driven bubble By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Additional reporting by Prisca Ang Prisca Ang prisang@sph.com.sg Singapore AUSTRALIA’s 25-basis-point rate cut to a record low of 2.25 perPHOTO: BLOOMBERG - 1,138 words
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Article, Illustration705 2015-02-10 16 water absorbs heat during hot spells and distributes it during cold snaps AFP Hungary AS UN climate negotiators gather in Geneva this week, one Japan-inspired Hungarian inventor believes he has found a revolutionary and inexpensive way to construct buildings that could slash humanity’sAFP; PHOTO: AFP - 705 words
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Article, Illustration1236 2015-02-10 16 Sun Hongbin from prison inmate to white knight Now one of China’s richest business execs, Sunaco CEO is also rescuing Kaisa Group BLOOMBERG Hong Kong TWO decades ago, Sun Hongbin was in prison and fighting to overturn a conviction on charges he’d embezzled company funds. Today, the chairman and CEOBLOOMBERG; PHOTO: REUTERS - 1,236 words
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680 2015-02-10 16 WP Washington DOUGLAS Trudeau waited 177 days for the Federal Aviation Administration’s (FAA) permission to fly his US$1,300 drone. The Tucson real estate agent wanted to do things the right way, he said, even though he knows peers who haveWP - 680 words
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349 2015-02-10 16 BLOOMBERG Sydney HONG Kong and New York offer the lowest returns for offices among the world’s major markets even as prices increase because of demand for high-quality properties, according to broker Savills plc. Grade-A commercial properties in Hong Kong’s central business districtBLOOMBERG - 349 words
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Advertisement147 2015-02-10 14 License No. L*****22J Tel: +65 6820 8000 The Central Clarke Quay Strata Office Investment Opportunity Excellent Loca~on Above MRT Unrivalled Breath-Taking View Award Winning Development Unique integra~on of Office, SOHO and Retail. 99 Years from 02/01/2001 1 Single Floor Plate, 10 Strata Titles Size from 82 sqm to 959 sqm147 words
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Advertisement157 2015-02-10 14 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices COMMERCIAL PROPERTIES FOR SALE GB BUILDING LARGE GROUND FLOOR UNIT Excellent visibility 45 m street level frontage along Cecil Street Strata 13,087 sf Ideal for retail, F&B, banking hall, medical suites157 words
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BANKING & FINANCE
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996 2015-02-10 18 Lenders at risk amid the anti-graft drive, sluggish property market and a slowing economy BLOOMBERG Hong Kong RATING companies are warning of risks to Chinese lenders from a corruption campaign that’s frozen re-al-estate projects and ensnared executives as the economy slows.BLOOMBERG - 996 words
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Article, Illustration417 2015-02-10 18 REUTERS Hong Kong STANDARD Chartered plc (StanChart) will shift its retail bank’s focus from mass market to affluent customers and urge more clients to go online as part of a broader restructuring, a senior executive told Reuters. StanChart’s retail business is oneREUTERS; PHOTO: AFP - 417 words
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357 2015-02-10 18 Changes meant to help in transition to Basel III standards BLOOMBERG Kuala Lumpur MALAYSIA’S central bank has unveiled new rules governing the way local banks should account for certain deposits and other items on their balance sheets, in a move thatBLOOMBERG - 357 words
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192 2015-02-10 18 REUTERS Sydney CIMB Group Holdings, Malaysia’s second-biggest lender by assets, said on Monday is was closing its investment banking operations in Australia following a review of its entire business. On Friday, CIMB said it was looking to cut costs in the investment bankingREUTERS - 192 words
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Article, Illustration790 2015-02-10 18 BLOOMBERG Zurich FOR Brady Dougan, it’s been the worst start to a year since he became chief executive officer of Credit Suisse Group AG in 2007. A rise in the value of the Swiss franc following the central bank’s decisionBLOOMBERG; PHOTO: BLOOMBERG - 790 words
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Advertisement28 2015-02-10 18 200,000 Llanhe Zaobao I Chengdu To subscribe, call 6388-3838 or go to sphsubscription.com.sg Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements28 words
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Advertisement22 2015-02-10 19 EC E L E B R AT I N G 1 7 0 Y E A R S C I N S22 words
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ENERGY & COMMODITIES
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Article, Illustration777 2015-02-10 20 It is the largest foreign debt obstacle the Russian oil company must cross in 2015: investors BLOOMBERG London AS OAO Rosneft pulls together funds to repay US$7.1 billion of loans due on Friday, some investors say it’s the momentBLOOMBERG; PHOTO: REUTERS - 777 words
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1186 2015-02-10 20 It has over US$750b in cash reserves, more than enough to stave off panic WP Riyadh AHMED al-Ghaith pulled his Dodge Durango into a petrol station in central Riyadh and told the attendant to fill it up. In a country where petrol sellsWP - 1,186 words
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639 2015-02-10 20 BLOOMBERG Houston ENERGY companies may be slow to cut oil production after a 50 per cent price drop because they need to service debt that has risen fourfold since 2003, according to the Bank for International Settlements (BIS). “Debt-serviceBLOOMBERG - 639 words
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Article, Illustration391 2015-02-10 20 BLOOMBERG New York THE corruption scandal battering Petrobras has already cost bondholders US$4 billion. With the oil producer facing billions of dollars in writedowns, investors are bracing themselves for even more pain. Petroleo Brasileiro SA’s US$41 billion of dollar-denominated debt has lost 10 perBLOOMBERG; PHOTO: BLOOMBERG - 391 words
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TECHNOLOGY
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1060 2015-02-10 21 While the situation looks prickly, it will be a while before things pan out for the hot young ride-hailing service and its Internet titan partner NYT New York WHEN Google’s venture capital arm poured more than US$250 million into Uber in 2013, it lookedNYT - 1,060 words
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Article, Illustration460 2015-02-10 21 BLOOMBERG Hong Kong ALIBABA Group Holding has agreed to invest US$590 million in smartphone maker Meizu Technology Co, boosting the e-commerce company’s push to get its mobile operating system on millions of handsets in China. Asia’s largest Internet company will hold aBLOOMBERG; PHOTO: REUTERS - 460 words
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815 2015-02-10 21 REUTERS Singapore A BARRAGE of damaging cyberattacks is shaking up the security industry, with some businesses and organisations no longer assuming they can keep hackers at bay, and instead turning to waging a guerrilla war from within their networks. USREUTERS - 815 words
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561 2015-02-10 21 BLOOMBERG New Delhi GENERAL Electric Co and Nidec Corp are among companies looking to take advantage of a subsidy India is offering for electronics manufacturing amid Prime Minister Narendra Modi’s push to boost economic growth. The government has received at least 60BLOOMBERG - 561 words
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Page 21 Advertisements
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Advertisement574 2015-02-10 21 The Business Times Ik I 1 I f 1 I 1 Toll free 1800-289-8822 I I I Email noticesy sph.com.sg I M I I i j www.sphclass.com.sg/notices UNITED OVERSEAS BANK LIMITED Company Registration No. *****0026Z (Incorporated in the Republic of Singapore) LOST SHARE CERTIFICATES Notice is hereby given that the574 words
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CONSUMER
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Article, Illustration755 2015-02-10 22 They plan to open more amenities such as convention centres theatres, touting their credentials as good employers REUTERS Hong Kong LEADING China’s anti-corruption campaign, President Xi Jinping warned Macau last December that the world’s biggest gambling hub needs to beREUTERS; PHOTO: BLOOMBERG - 755 words
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957 2015-02-10 22 NYT New York IN THE world of consumer finance, they are chameleons: payday lenders that alter their practices and shift their products ever so slightly to work around state laws aimed at stamping out short-term loans that can come with interest ratesNYT - 957 words
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592 2015-02-10 22 The company competes with Procter Gamble and L’Oreal in China, and has 2,335 stores on the mainland BLOOMBERG Shanghai AMOREPACIFIC Group expects sales in China to jump 30 per cent this year as the South Korean cosmetics maker opens more outletsBLOOMBERG - 592 words
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733 2015-02-10 22 REUTERS Chicago FOR decades, Chuck Souder relied on corn and soya beans to keep his 161-hectare Iowa farm running, but with corn selling for half its price two years ago and soya beans slumping, Mr Souder has shifted toREUTERS - 733 words
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TRANSPORT
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Article, Illustration1060 2015-02-10 23 Carriers airlift goods ranging from yogurt and cheese for US military forces in Japan and Korea to car parts and potatoes for fries BLOOMBERG Singapore THE US military ordered yoghurt and cottage cheese flown to forces in Japan andBLOOMBERG; PHOTO: BLOOMBERG - 1,060 words
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581 2015-02-10 23 REUTERS Dublin THE owner of British Airways is running out of time to secure Ireland’s Aer Lingus as questions over its commitment to keep jobs and key Heathrow routes stoke opposition from politicians facing a tough election nextREUTERS - 581 words
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Article, Illustration799 2015-02-10 23 BLOOMBERG Taipei TAIWAN aviation officials agreed last month to TransAsia Airways Corp’s request to push back enforcement of a new rule aimed at forcing them to have more time to conduct pre-flight checks. Authorities delayed until March 1 their implementation ofBLOOMBERG; PHOTO: AFP - 799 words
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364 2015-02-10 23 REUTERS Frankfurt GERMAN airport operator Fraport expects Greece’s new government to honour a US$ 1.4 billion deal for Fraport to run 14 regional airports, its finance chief said, after Athens halted several other key privatisation projects. When Greece’s leftist-led, anti-aus-terity government took powerREUTERS - 364 words
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GOVERNMENT & ECONOMY
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569 2015-02-10 24 Anthony Rowley - The US is concerned about the standards AIIB will apply to projects and its procurement policies, for example By Anthony Rowley btworld@sph.com.sg Tokyo THE United States is not opposed in principle to the new China-led Asian Infrastructure Investment Bank (AIIB), but has569 words
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Article, Illustration887 2015-02-10 24 G20 MEETING BLOOMBERG Istanbul A COUNTRY accounting for less than 0.4 per cent of the world economy is again rattling those responsible for three-quarters of it. Greece topped the list of worries for finance ministers and central bankers from theBLOOMBERG; PHOTO: AFP - 887 words
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654 2015-02-10 24 Finance chiefs likely to reject plan to set countries specific goals REUTERS Istanbul GROUP of 20 finance officials look likely to reject a proposal to set countries specific investment targets to spur a global economy which looks increasingly reliant on the US for growth.REUTERS - 654 words
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342 2015-02-10 24 BLOOMBERG Istanbul TREASURY Secretary Jacob Lew said the strength of the dollar will be discussed among Group of 20 finance ministers meeting in Turkey this week and the growing US economy still needs to produce higher wages for workers. “We’re gettingBLOOMBERG - 342 words
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Article, Illustration901 2015-02-10 25 loans grew just 10.7% in the 12 months through Jan 23 as banks focus on surging bad debts, falling capital buffers BLOOMBERG Mumbai INDIAN central bank governor Raghuram Rajan’s calls to spur lending seem toBLOOMBERG - 901 words
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448 2015-02-10 25 REUTERS Singapore A SURPRISING plunge in China’s imports shows that Asia’s largest economy is still losing momentum despite a raft of stimulus measures, though global price moves and the impact of holidays may have overstated the extent ofREUTERS - 448 words
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Article, Illustration956 2015-02-10 25 BLOOMBERG Berlin AFTER almost a decade as German chancellor, Angela Merkel faces a moment of truth as a resurgent Russia and fed-up Greeks challenge her blueprint for Europe’s future. As bloodshed in eastern Ukraine escalates and theBLOOMBERG; PHOTO: REUTERS - 956 words
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705 2015-02-10 25 investors have poured over US$7b into the country’s stocks and bonds this year BLOOMBERG London INDIA may be the last Bric standing. As Brazil, Russia and China hit hurdles, it’s the poorest member of Goldman SachsBLOOMBERG - 705 words
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Advertisement22 2015-02-10 24 o www.omy.sg C J\l: o o jBMUS #siir JTiiSfIL 0SS0 cny.omy.sg Download omy Apps v y iii omy News iOSAppStore Google Play22 words
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Advertisement54 2015-02-10 24 HOT PROPERTY SHOP HSE Prinsep Street Quaint ambiance 592/785 sf. Aircon incl Ask: $3.6k $4.6K. CIRCULAR ROAD 1500SQFT Corner. F&B ready. Good crowd. Asking $10.5k. MACKENZIE COFFEESHOP/ RESTN. Last Unit. opp MRT, carpk,grd flr1389sf@$13.2k Exhaust, grease trap gas. F&B SPACES FOR RENT Check this and many other properties in The54 words
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OPINION
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650 2015-02-10 26 AS worries over retirement adequacy come to the fore, Singapore has to embark on the politically challenging debate of whether to introduce restrictions on the amount of CPF savings that can be used to purchase property. There will always650 words
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Article, Illustration812 2015-02-10 26 Paul Krugman - THE BOTTOM LINE By Paul Krugman NYT MANY economists, including Janet Yellen, view global economic troubles since 2008 largely as a story about “deleveraging” a simultaneous attempt by debtors almost everywhere to reduce their liabilities. Why is deleveraging a problem? Because myNYT - 812 words
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Article, Illustration1448 2015-02-10 26 Leon Hadar - The president faces growing criticism of his foreign policy even among allies of the White House and the Democratic Party By Leon Hadar SINCE entering the White House, US President Barack Obama and members of his foreign policy team have been accentuating the contrastPHOTO: AFP - 1,448 words
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1031 2015-02-10 27 Andrew Hammond - COMMENTARY By Andrew Hammond T The writer is an associate at LSE Ideas (the Centre for international Affairs, Diplomacy and Strategy) at the London School of Economics, and a former UK government special adviser THE leaders of Russia, Germany, France and Ukraine will1,031 words
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Article, Illustration1875 2015-02-10 27 R Sivanithy - Bourses can prosper and expand only if they are constantly mindful of the potential of change in economics and world markets and willing to adopt innovations as necessary, says the founding father of futures markets By R Sivanithy sivan@sph.com.sg @RSivanithyBTPHOTO COURTESY OF NG KOK SONG - 1,875 words
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987 2015-02-10 28 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Vladivostok 595E 11 Feb 28 Feb 16 Mar 19 Mar 23 Mar 25 Mar 27 Mar 30 Mar 06 Apr 08 Apr 08987 words
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Page 28 Advertisements
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Advertisement184 2015-02-10 28 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced sh;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 Wishes fc r es o Mr.184 words
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LIFE & CULTURE
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Article, Illustration923 2015-02-10 29 Show presented a mix of old songs and new faces, and also gave sombre nods to the issues of domestic abuse and the threat against civil rights Luther King Jr biopic, Selma. NYT TERS REUTERS Los AngelesLuther King Jr biopic, Selma. NYT TERS REUTERS; Photos: AFP, Reuters - 923 words
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Article, Illustration816 2015-02-10 29 Playing Stephen Hawking has already won him a Golden Globe. Next up, the Oscars AFP London THE American coming-of-age tale Boyhood, filmed over 12 years, won a Bafta (British Academy of Film and Television Arts) award for best film on Sunday, but the British awardsAFP; Photos: Reuters - 816 words
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456 2015-02-10 29 Prisca Ang - By Prisca Ang prisang@sph.com.sg Singapore OCBC Cycle, Singapore’s annual mass participation cycling event, has revealed new platforms which will gear companies up to help the less privileged in Singapore. The event will be held at the Singapore Sports Hub on Aug 29-30, 2015. More456 words
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Page 29 Miscellaneous
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Miscellaneous362 2015-02-10 29 CRYPTIC CROSSWORD Across 9 It sounds like you and I will change direction (5) 10 Supply required by French department to achieve balance (9) 11 Expert presenting some art in a new way (7) 12 Charge rent that’s ridiculous on superior street (7) 13 Fighting unit of the Engineers led362 words
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SME
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Article, Illustration1121 2015-02-10 30 VIVIEN SHIAO - After decades in the industry, the seafood restaurant is evolving to ensure it is not left behind.BY behind.BY VIVIEN SHIAO vshiao@sph.com.sg @VivienShiaoBT CHILI crab is perhaps Singapore's most iconic local dish, and one that is loved by both locals and tourists alike. While seafood restaurantsPHOTO: ARTHUR LEE - 1,121 words
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Article1016 2015-02-10 30 Amy Ou - COMMENTARY By Amy Ou T The writer is assistant professor of management organisation at the National University of Singapore Business School SUCCESSFUL CEOs are associated with many traits, but humility rarely makes the list. This is not because humble bosses are not successful. Rather, it1,016 words
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Advertisement224 2015-02-10 30 BUSINESS EXCELLENCE AWARDS WINNERS SHARING CONFERENCE 10 March 2015, 9.00am 5.30pm Resorts World Sentosa, West Ballroom Learn and be inspired by the best! Discover the secrets of success from seven organisations which won the 2014 Business Excellence (BE) awards. They will share insights on how the BE framework is used224 words
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Advertisement35 2015-02-10 31 THE BUSINESS TIMES II III I Hill S$1.00 gil A SINGAPORE PRESS HOLDINGS PUBLICATION I www.businesstimes.com.sg G I C ©BTBreakingnews I CO REGN NO *****2868E I MCI (P) 051/08/2014 Tuesday, February 10,2015 8 *****1 *****435 words
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Advertisement552 2015-02-10 32 / 33 CAPTIVATING IS A WORD THAT APTLY DESCRIBES THE NIGHT SKY OVER THE VALLEE DE JOUX, THIS SECRET HOLLOW NESTLING IN THE SWISS JURA THAT GAVE BIRTH TO THE MAISON JAEGER-LECOULTRE. VERY FEW LIGHTS DISTURB ITS LUMINOUS BEAUTY THAT REMAINS IMPERTURBABLY SERENE, SOFTLY ENVELOPING THOSE WHO TAKE THE TIME TO OBSERVE552 words
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Advertisement49 2015-02-10 34 Jaeger- leCoultr^ SHARE JAEGER-LECOULTRE’S FASCINATION WITH THE MOVEMENT OF CELESTIAL BODIES. •^sr i\\ *U v 4 v DISCOVER MORE FROM FEBRUARY I Ith TO 13th AT ION ART, LEVEL 4 CELEBRATING THE GRAND OPENING OF JAEGER-LECOULTRE FLAGSHIP BOUTIQUE Jaeger-LeCoultre Boutique 2 Orchard Turn, ION Orchard, #02-08 Singapore 1800 *****2749 words
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