The Business Times, 24 March 2015
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2015-03-24
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The Business Times
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Title Section22 2015-03-24 1 THE BUSINESS TIMES S$1.00 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Tuesday, March 24, 201522 words
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Article27 2015-03-24 1 Monday Change STI 3,410.13 -2.31 KL COMP 1,795.85 -7.80 NIKKEI 225 19,754.36 +194.14 HANG SENG 24,494.51 +119.27 SHENZHEN B 1,140.13 +3.94 Dow (noon EDT) 18,178.66 +51.0127 words
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Article, Illustration1382 2015-03-24 1 Lee U-Wen - Tributes pour in from world leaders and citizens, from which emerged a portrait of a decisive leader who made the nation’s survival his life’s work By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore THE sombre news came four minutes after 4am on Monday, a time when mostTHE STRAITS TIMES FILE PHOTO BY GEORGE GASCON; BT Graphics - 1,382 words
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849 2015-03-24 1 EDITORIAL THE tributes and condolences streamed in all day, after the passing, on early Monday morning, of Singapore’s first prime minister and founding father Lee Kuan Yew. They are still pouring in at the time of writing. They come849 words
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Page 1 Advertisements
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Advertisement13 2015-03-24 1 ||llllllllllll||llllllllllll|| 8 *****1 *****4 WATER, WATER Emerging trends in urban water management OPINION/2213 words
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Advertisement39 2015-03-24 1 SINGAPORE ECONOMY inflation up slightly in February TOP STORIES 5 CHILDHOOD EDUCATION MMI on fast-track expansion path SME/26 IT’S BEEN AN HONOUR, MR LEE page 2 A LASTING LEGACY/ page 3 ‘REMEMBERING A TRUE GIANT OF HISTORY’ /PAGE 439 words
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Advertisement12 2015-03-24 1 LEGAL ACTION Noble files suit after third Iceberg report COMPANIES MARKETS 812 words
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LEE KUAN YEW 1923 – 2015
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Article, Illustration2239 2015-03-24 2 ANNA TEO - His extraordinary vision and lifelong commitment to Singapore’s well-being won Lee Kuan Yew a place in the hearts of his countrymen.BY countrymen.BY ANNA TEO WHEN Lee Kuan Yew stepped down from the Cabinet in May 2011 in the immediate aftermath of a general election,STRAITS TIMES FILE PHOTO; STRAITS TIMES FILE PHOTOS - 2,239 words
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Article, Illustration550 2015-03-24 3 As the founding father of modern Singapore and its first Prime Minister from 1959 to 1990, Lee Kuan Yew led the island republic’s transformation from shanty backwater to bustling metropolis. But his influence and imprint on Singapore go well beyond his decades in office to just aboutBT Graphics: Hyrie Rahmat, Anna Teo, Simon Ang; Artwork created using AndreaMosaic - 550 words
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926 2015-03-24 4 Cai Haoxiang, Kelly Tay - Confidence remains in S’pore as a place for investment, its rule of law, strong infrastructure and open economy By Cai Haoxiang, Kelly Tay haoxiang@sph.com.sg kellytay@sph.com.sg @HaoxiangCaiBT @KellyTayBT Singapore SINGAPORE markets reacted with equanimity on Monday to the news that founding prime926 words
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Article, Illustration1596 2015-03-24 4 The death of Singapore’s founding prime minister prompted an outpouring of tributes, condolences and expressions of grief. Here are some of them, both from political and business leaders within Singapore and from abroad. Compiled by Joyce Hooi Many aspects of our lives bear MrPHOTO: YEN MENG JIIN - 1,596 words
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Article194 2015-03-24 4 IA two-day private wake which began on Monday is being held at Sri Temasek in the Istana. IMr Lee’s coffin will be placed on a gun carriage on Wednesday and moved to Parliament House at 9am. IThe body will lie in state at Parliament House from194 words
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TOP STORIES
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Article, Illustration822 2015-03-24 5 Kelly Tay - Latest inflation report divides views on further Sing easing Core inflation, which guides MAS policy, rises to 1.3% in Feb even as headline inflation stays negative By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S latest inflation numbers have left the market no clearer on how the central bank will move inSource: Department of Statistics - 822 words
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569 2015-03-24 5 Anita Gabriel - Authorities here are in touch with their Malaysian counterparts on the matter By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SINGAPORE authorities will back Malaysia’s high-profile probe into state-backed 1 Malaysia Development Berhad by providing assistance “within the full ambit” of its laws, said569 words
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Article, Illustration618 2015-03-24 5 Fiona Lam - By Fiona Lam fionalam@sph.com.sg Singapore BY June this year, small and medium enterprises (SMEs) in Singapore will be able to tap a total of 30 integrated solutions up from the current 12 through the Innovation and Capability Voucher (ICV) to raise productivity. As a618 words
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Article, Illustration634 2015-03-24 5 BLOOMBERG Riyadh OIL won’t rebound to US$100 a barrel because increased prices would draw more shale and other output from higher-cost producers to the market, said Mohammed al-Madi, Saudi Arabia’s governor to Opec. “It will be difficult toBLOOMBERG; PHOTO: REUTERS - 634 words
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Page 6 Advertisements
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Advertisement3602 2015-03-24 6 NamCheong NAM CHEONG LIMITED (Company Registration No.: *****) (Incorporated in Bermuda) (the “Company") NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of Nam Cheong Limited (the “Company") will be held at Riverview Hotel, Lily Ballroom, Level 4, 382 Havelock Road, Singapore *****9 on Friday,3,602 words
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Advertisement1938 2015-03-24 6 United Industrial Corporation Limited (Incorporated in the Republic of Singapore) (Company Registration No. *****0181E) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 53rd Annual General Meeting of United Industrial Corporation Limited will be held at 80 Raffles Place,62nd Storey, UOB Plaza 1, Singapore *****4,on Friday,24 April 20151,938 words
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COMPANIES & MARKETS
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582 2015-03-24 7 Kalpana Rashiwala - One is to develop an IT special economic zone in Bangalore and the other is to invest in European logistics properties By Kalpana Rashiwala kalpana@sph.com.sg @KalpanaBT Singapore SINGAPORE sovereign wealth fund GIC announced two property investments on Monday one to develop an IT special economic582 words
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333 2015-03-24 7 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore EQUATION Summit’s subsidiary DiSa Digital Safety Pte Ltd has inked a deal with China Tobacco Anhui Industrial Corporation to provide its patented anti-counterfeiting solution to the Hefei-based cigarette manufacturer. The technology allows the identification of counterfeit333 words
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193 2015-03-24 7 REUTERS London COMPANIES could issue a record US$30 billion in so-called “green bonds” this year, but further growth in the market will depend on developments in China and common standards, Standard Poor’s Rating Services said on Monday. Proceeds from green bondsREUTERS - 193 words
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Article, Illustration630 2015-03-24 8 Kenneth Lim - It acts against ex-Noble credit analyst and a firm which registered iceberg site By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore NOBLE Group has thrown a legal punch back at the parties that it says have been waging a month-long campaign to accuse theSource: ShareInvestor.com, Iceberg Research, Noble Group - 630 words
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304 2015-03-24 8 Melissa Tan - By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore OBSCURE outfit Iceberg Research said in its third report on Noble Group that this is not the first time that it is acting as a whistleblower against the commodities trader. Referring to the304 words
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329 2015-03-24 8 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore ROXY-Pacific Holdings has picked up its fourth investment in Australia, a 4.4-hectare land parcel comprising two adjacent properties in North Fremantle, near Perth. The A$59 million (S$63 million) acquisition was undertaken with its joint-venture partner Hostplus, an329 words
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320 2015-03-24 8 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore REX International Holding’s joint-ly-controlled entity, Lime Petroleum Norway AS (Lime Norway), has secured an increase of its financing facility from 300 million Norwegian kroner (S$52 million) to 700 million kroner to fund its participation320 words
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Article, Illustration62 2015-03-24 10 STI Catalist Straits Times Index March 23,2015 3,410.13 -2.31 (-0.07%) Current streak 1 day Day high 3,430.32 Day low 3,409.42 52-week high 3,444.57 (Feb 11,2015) 52-week low 3,104.17 (Mar 25, 2014) FTSE ST Catalist index March 23,2015 661.60 -4.64 (-0.70%) Current streak 1 day Day high 670.91 Day low 661.1762 words
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Article, Illustration646 2015-03-24 10 H Sivanithy - Noble bounces, probably due to its rebuttal of Iceberg’s claims and announcement of legal action STOCKS By H Sivanithy sivan@sph.com.sg @RSivanithyBT THERE were no surprises in Monday’s session at Singapore Exchange, with the Straits Times index (STI) first rising 18 pointsSource: Bloomberg - 646 words
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Article317 2015-03-24 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 259 -1 259/255 263 215 5.5 6548.4 CapitaLand 352 unch 356/352 371 274 12.9 2.6 *****.8 CapitaMall Trust 216 +1 220/214 226 187.5 5 7493.1 CityDev 1015 cd +6 1020/1010 1118 915317 words
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Article33 2015-03-24 10 VOLUME Noble 68,052,400 IHC 45,770,900 SIIC Environment 44,459,000 APAC Strategic 25,942,700 Biosensors 24,755,300 Market volume 1,215,036,000 VALUE SingTel 79,002,335 DBS Grp 76,908,490 Noble 61,644,226 UOB 61,033,878 CapitaLand 32,503,054 Market value 971,694,00033 words
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Article77 2015-03-24 10 Mar 23 VALUE CLOSE BT OB/OS -557.00 +136.00 BT CADI -*****.00 +14.00 BT 10-day MA -*****.00 -56.00 FTSE ST Mid Cap 773.60 +3.47 FTSE ST Small Cap 475.76 +2.09 FTSE ST All Share 816.09 +0.35 FTSE ST China Top 190.72 +0.89 FTSE ST China 232.06 -0.84 FTSE77 words
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Article77 2015-03-24 10 BY CENTS CLOSE UP 52w high/low Lyxor Indonesia US$ 9093 175.0 1.4 9636/8507 DBXT MSJAP US$ 5099 165.4 2.4 5108/4260 DBXT MSEurope US$ 5933 141.9 1.8 6492/5366 GLD US$ ***** 106.1 0.7 *****/***** DBXT MSKorea US$ 5805 59.3 0.7 6735/5484 BY PERCENTAGE CLOSE UP 52w high/low CN9600MBeCW*****0 52 108.077 words
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Article, Illustration34 2015-03-24 10 STI FTSE ST All-Share ftse ST All-Share index March 23,2015 816.09 +0.35 (+0.04%) Current streak 3 days Day high 819.41 Day low 815.39 52-week high 827.11 (Feb 11,2015) 52-week low 754.98 (Mar 25, 2014)34 words
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Article, Illustration33 2015-03-24 10 STI MSCI EAFE MSCI EAFE index March 20,2015 1,887.31 +36.30 (+1.96%) Current streak 3 days Day high 1,895.91 Day low 1,853.04 52-week high 1,995.49 (July 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)33 words
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Article186 2015-03-24 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 4 3 8 0 0 0 4 3 8 Manufacturing 45 52 30 8 6 10 53 58 40 Commerce 16 21 18 3 5 6 19 26 24 Tpt/Stor/Comms 15 13 10186 words
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Article75 2015-03-24 10 BY CENTS CLOSE DOWN 52w high/low JMH USD 6235 -75.8 -0.9 6788/5700 DBXT Vietam US$ 2505 -48.2 -1.4 3100/2403 Jardine C&C 4063 -37.0 -0.9 4901/3850 Lyxor ChinaH US$ 1660 -13.8 -0.6 1700/1263 DBXT MSTHAI US$ 2071 -11.0 -0.4 2225/1818 BY PERCENTAGE CLOSE DOWN 52w high/low Centurion W*****7 3.2 -59.075 words
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Article81 2015-03-24 10 VOL CLOSE($) CHANGE China Haida 842.1 0.017 -0.009 -34.62 Advanced Systems 1,660.0 0.004 +0.001 +33.33 M Development 2,075.0 0.005 -0.001 -16.67 MoneyMax Fin 139.0 0.230 +0.030 +15.00 Hosen 465.0 0.058 -0.002 -3.33 Ziwo 207.0 0.039 -0.010 -20.41 China Oilfield^ 400.0 0.003 +0.001 +50.00 Foreland FabriT 408.0 0.006 -0.00381 words
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BROKERS’ TAKE
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Article97 2015-03-24 10 Hold March 23 close: S$0.91 Target price: S$0.96 Maybank Kim Eng Research, March 23 IN our view, asset impairments and commodity price weakness are valid anxieties. On the other hand, fair-value accounting and refinancing fears seem overdone. In its third issue on Saturday, Iceberg accused Noble of understating97 words
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Article99 2015-03-24 10 Buy March 23 close: S$0.53 Target price: S$0.75 RHB Research Institute Singapore, March 23 CENTURION announced that it has deferred the proposed real estate investment trust (Reit) transaction to a later stage as Singapore Exchange deems it a chain listing, whereby the assets to be injected make up99 words
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Article85 2015-03-24 10 Hold March 23 close: US$0.35 Target price: US$0.38 UOB Kay Hian Research, March 23 GENTING Hong Kong’s 2014 results disappointed at Star Cruises and Travellers International (RWM). Industry trends (rising competition in the Asian cruise market, slowing Chinese gambling spend and rising competition in Manila integrated resort85 words
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Article157 2015-03-24 10 Cai Haoxiang - Compiled by Cai Haoxiang Accept offer March 23 close: S$4.56 OCBC Investment Research, March 23 WHILE we are only four days away from the deadline, we continue to judge it more likely than not that KepLand will eventually be privatised. Our main recommendation is for Keppel Land shareholders157 words
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Article109 2015-03-24 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap DBXT MSAsExJp US$ US3608 249 -/-3808/2802 3669/3681 8.3 Nikko AM STI ETF 347 -1 196 348/347 422/318 346/347 8.4 UETF SSE50China 259 +4 148 260/257 260/140 258/260 80.9 DBXT CSI300 US$ US1102 +12 105 1102/1090 1102/615109 words
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Article120 2015-03-24 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 10,140 10,140 33,319 33,319 Manufacturing 165,074 40,588 205,662 77,639 5,276 82,915 Commerce 101,684 35,575 137,259 98,507 1,274 99,780 Tpt/Stor/Comms 92,202 92,202 163,276 163,276 Finance 17,186 354 17,540 194,476 74 194,550 Construction 48,301 8,780 57,081 18,735120 words
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396 2015-03-24 11 CURRENCIES AFP Tokyo THE euro inched lower on Monday ahead of more talks aimed at solving Greece’s debt crisis, as investors eye a slate of speeches by Federal Reserve officials for further clues about the timing of an interest rate hike. The singleAFP - 396 words
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FOREX RATES
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Article470 2015-03-24 11 Mar23 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.980 4.830 0.721 6.031 48.448 101.289 0.934 8.668 2.871 1.024 79.239 34.831 1.072 9.411 0.761 24.464 25.316 0.523 0.778 Canada 1.021 4.930 0.736470 words
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Article155 2015-03-24 11 Mar 23 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0712 1.0729 0.7773 0.7780 Canadian dollar 1.0938 1.0951 0.7941 0.7937 Euro 1.4871 1.4883 1.0791 1.0792 NZ dollar 1.0457 1.0473 0.7588 0.7594 Sterling pound 2.0502 2.0522 1.4877 1.4881155 words
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Article21 2015-03-24 11 Mar23 S$ Bid Offer 1-month 1.3793 1.3806 2-months 1.3807 1.3820 3-months 1.3819 1.3833 6-months 1.3849 1.3865 Source: OCBC21 words
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EQUITY BONDS WARRANTS FUTURES
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Article359 2015-03-24 11 Mar 23 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.98 *****.60 *****.73 Jun15 *****.00 *****.00 *****.00 *****.00 ***** *****2 Sep15 *****.00 0 143 MSCI TAIWAN INDEX FUTURES SPOT 362.09 362.81 360.56 Mar15 360.70 362.60 359.90 361.10 ***** *****7 Apr15 361.30 363.00 360.40 361.40359 words
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206 2015-03-24 11 Mar 23 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****5 16.9 0.2 7743 0.1 2050 6 Rowsley Ltd W*****3 2.3 -0.1 4795 1 18 19 OCBC Bk MB eCW*****3 9.7 unch 4297 0.2 1050206 words
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373 2015-03-24 11 In local curr In S$ In US$ dy yr dy yr dy yr Mar 20 Index Change Change Change Change Change Change World Preliminary 1356.3 0.9 6.3 0.8 8.3 1.4 3.9 EAFE Preliminary 1106.3 0.7 12.1 1.4 10.9 2.0 6.3 Europe Preliminary 1561.8 1.0 13.0373 words
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BANK RATES
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Article154 2015-03-24 11 Mar 23 $S Offer Bid 0vernight 0.30 0.20 1-month 0.875 0.75 2-months 0.9375 0.8125 3-months 1.0625 1.0 Overnight mode: 0.25 US$ 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 0.60 0.40 9 months 0.70 0.50 12154 words
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Article36 2015-03-24 11 Mar 23 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 1.***** 9 mths 12 mths 1.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 1.***** 6 mths 1.***** Source: Thomson Reuters36 words
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Article65 2015-03-24 11 Mar 23 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 102.1 102.20 102.13 5-Year N*****0H 1.625 01-Oct-19 98.64 98.86 98.65 10-Year NY*****H 3.000 01-Sep-24 104.6 104.85 104.49 15-Year NY*****E 2.875 01-Jul-29 102.03 20-Year NZ*****V 3.375 01-Sep-33 107.41 107.30 107.3065 words
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AGRI METALS ENERGY
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Article249 2015-03-24 11 Mar-20 Price Net change change Last Trade Agricultural Mar-20 CBOT Soybeans (US cents/bu) 973.75 12.00 1.25% 14/05/2015 CBOT Soybean Oil (US cents/lb) 30.68 0.06 0.20% 14/05/2015 CBOT Wheat (US cents/bu) 530.00 18.00 3.52% 14/05/2014 Mar-20 LIFFE Cocoa (£/tonne) 1945.00 22.00 1.14% 13/05/2015 LIFFE Coffee (US$/tonne) 1796.00 5.00 0.28%249 words
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Page 7 Advertisements
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Advertisement60 2015-03-24 7 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine ACCeSSOrieS Over 500 products available Exceptional French-Chilean Wine! Almaviva 2010 RP-92pts Now: S$159.00 Usual: S$100.00 Now: S$168.00 Usual: S$198.00 Almaviva 2011 RP-93pts It'si I 'Discovery! The Oaks Cellars Pte Ltd OAT K s y 315 Outram Road #12-09 Tan60 words
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Advertisement288 2015-03-24 7 5 STAR AIRLINE SKYTRAX r\ ■S#r) y 4 V •V v» v r '-W VV" <_ Hi •V 1 ft .1 N V. 1 •V i J J **u; r- 6 i A A,' a 4a V M 4 Feel the tranquillity, the essence of comfort in our fully flat288 words
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Page 8 Advertisements
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Advertisement102 2015-03-24 8 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices CALLING ALL INTERIOR DESIGNERS! FEATURE YOUR PROJECTS IN HOME DECOR’S DESIGNER SHOWCASE! The perfect platform for design professionals to showcase their projects, and the definitive guide for homeowners looking for designers. Free with102 words
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Advertisement57 2015-03-24 8 R'feSi m^anmar Incorporating: Myanmar retail Urban and City Planning Conference 2015 Real Estate Show Myanmar 2015 29 June -1 July 2015 Yangon, Myanmar I n Your gateway to trends and investment opportunities in Myanmar's real estate Contact Jason at +65 6848 6051 or email jason@sphereconferences.com to find out about sponsorship57 words
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Advertisement39 2015-03-24 8 Hospitality Investment Conference Indian Ocean Maldives Mauritius Seychelles Sri Lanka 25-26 May 2015 Colombo, Sri Lanka A New Era 3* Contact Michelle at +65 6848 5374 or email Herat michelle@sphereconferences.com for sponsorship opportunities Organiser: sphere SINGAPORE PRESS HOLDINGS www.hicio.sphereconferences.com39 words
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Advertisement57 2015-03-24 8 HOT PROPERTY TUAS VIEW SQ. Sale/Rent. B1/B2/food warehse/office 6k-12k sf. Near future ports/ MRT. WESTECH@ PANDAN LOOP. 999 yrs LH. Best unit no/ location. F/fitted. Hurry! HENDERSON IND PK 2551 sf 1K sf reno office loft. 21ft ceiling hgt. Vacant possession. FACTORY SPACES FOR SALE! Check out these properties and57 words
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REAL ESTATE
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523 2015-03-24 12 US$870bfund has narrowed search to Singapore and Tokyo, possibly in office properties BLOOMBERG Oslo NORWAY’S wealth fund is making final preparations for its first Asian real estate investment as it builds a portfolio of properties in the world’s biggest cities.BLOOMBERG - 523 words
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Article, Illustration525 2015-03-24 12 Beijing CHINA’S real estate companies are looking forward to having a slice of cake in a booming winter sports market that followed Beijing’s joint bid with neighbouring Zhangjiakou for the 2022 Winter Olympic Games. The past decade saw China’s winter525 words
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572 2015-03-24 12 No funds spent on solar so far, says parent of most indebted Chinese developer BLOOMBERG Beijing EVERGRANDE Group, the parent of China’s most-indebted publicly traded homebuilder, scrapped its 90 billion yuan (S$20 billion) plan to branch out into solar power, stymieingBLOOMBERG - 572 words
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558 2015-03-24 13 Move due to lower funding costs, improved liquidity from monetary easing measures REUTERS Hong Kong CHINESE developers plan to eschew the offshore market and borrow more money onshore this year thanks to lower funding costs and improved liquidity on the back of government easingREUTERS - 558 words
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219 2015-03-24 13 REUTERS Bangkok A FINANCE ministry committee will review a draft law to introduce Thailand’s first tax on property in April, before the proposal is submitted for the general public’s scrutiny, Finance Minister Sommai Phasee said on Monday. The land and buildingREUTERS - 219 words
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292 2015-03-24 13 REUTERS Hong Kong STATE-BACKED property developer China Resources Land said the sector will continue to focus on clearing inventory this year amid a supply glut, but the company had set itself aggressive sales targets. Weakness in the property sector, whichREUTERS - 292 words
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Advertisement406 2015-03-24 12 W* Knight VIGERS Frank mmm CEA Licence No.: L*****36J CEA Licence No.: L*****10E RESIDENTIAL BULK SALE AT EMERALD HILL ROAD F NGEEANN °nc Ht iA *o no Dr OmTd 21 residential units, Freehold Total Strata Area Approx. 62,829 sq ft Great views towards city Marina Bay Sands In the heart406 words
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Advertisement266 2015-03-24 12 Prime Commercial Shophouses Sago Street, Chinatown Charming 3-storey Conservation Shophouse LA: Approx. 1,115 sq ft, FA: est. 3,000 sq ft Approved for Backpackers’ Hostel and Cafe Amidst Chinatown Heritage Charm Opposite future MAXWELL MRT Station (TEL18) savills -2 South Bridge Road, Chinatown 2-storey Attic Conservation Shophouse LA: approx. 1,050 sq266 words
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Advertisement71 2015-03-24 12 EXCELLENTOPPORTUNITY LOYANG INDUSTRIAL ESTATE 2-storey high ceiling production with ancillary offices Land Area approx. 48,531.2 sqft Gross Floor Area approx. 22,034.6 sqft Lease Tenure 30+25 from 16 October 1998 2014 Master Plan Business 2, Plot Ratio 2.5 EOI Closing Date: 26 March 2015 (Thu), 3pm For further information and viewings,71 words
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Advertisement146 2015-03-24 13 RARE BOAT QUAY SHOPHOUSES Coveted 999-year tenure Zoned “Commercial” No ABSD Approved for F&B use Excellent unobstructed view of the Singapore River Popular precinct for alfresco restaurants and pubs Near to Raffles Place and Clark Quay MRT stations 100% tenanted offering stable income 4 shophouse units Single shophouse Site Area:146 words
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Advertisement330 2015-03-24 13 or 3*is= "7< MORELLO EAST CROYDON STATION -yw*-. H RAINIER APARTMENTS EXHIBITION LAUNCH I? M SATURDAY 28 th SUNDAY 29 th MARCH 2015 (11am 7pm) Shangri-la Hotel Singapore Gardenia Room, Level 2 22 Orange Grove Road Singapore *****0 RAINIER APARTMENTS r V tf MORELLO I ■rj m m “TV ‘A330 words
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BANKING & FINANCE
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Article, Illustration751 2015-03-24 14 Stringent requirements force global banks to pull back, draining away liquidity from CDS market REUTERS Hong Kong DEBT crises and heavy trading losses at some Asia-Pacific companies have exposed cracks in the region’s corporate debt market suggesting a regulatory pushREUTERS; PHOTO: REUTERS - 751 words
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287 2015-03-24 14 REUTERS London THE Asian Development Bank (ADB) is stepping up efforts to assist member countries to use Islamic finance in areas such as infrastructure financing, ranging from technical assistance to providing credit guarantees, an ADB official has said. The Manila-based development lender seesREUTERS - 287 words
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872 2015-03-24 14 BLOOMBERG London IN the negative-yield vortex that is the European bond market, investors are discovering just what lengths they’re willing to go to generate returns. Norway’s US$870 billion sovereign wealth fund said this month that it added Nigeria andBLOOMBERG - 872 words
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Advertisement1633 2015-03-24 14 NOTICE OF ANNUAL GENERAL MEETING SABANA SHARI’AH COMPLIANT INDUSTRIAL REAL ESTATE INVESTMENT TRUST (a real estate investment trust constituted on 29 October 2010 under the laws of the Republic of Singapore) Managed by Sabana Real Estate Investment Management Pte. Ltd. (Company Registration No. *****5493K) NOTICE IS HEREBY GIVEN that the1,633 words
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ENERGY & COMMODITIES
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Article, Illustration643 2015-03-24 15 Producers eye assets in South-east Asia, Eastern Europe, Africa to shift output abroad REUTERS Shanghai LADEN with debt and struggling to make money as the world’s No 2 economy loses momentum, China’s steel mills do not appear obvious candidates for overseas expansion. But theREUTERS; PHOTO: REUTERS - 643 words
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630 2015-03-24 15 BLOOMBERG Mumbai INDIA, the world’s largest importer of cooking oils, will buy more soya bean and sunflower oil this year than ever before as a global glut weakens prices and prompts buyers to switch from palm oil. PurchasesBLOOMBERG - 630 words
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TECHNOLOGY
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858 2015-03-24 16 Half of firms that debuted in US last year trading below IPO prices; poor earnings undermine investor confidence BLOOMBERG New York JUST as the Nasdaq Composite Index surges to the cusp of the record high set during the dotcom era, the excitementBLOOMBERG - 858 words
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Article, Illustration785 2015-03-24 16 BLOOMBERG New Delhi MICROMAX Informatics Ltd, the Indian smartphone maker threatening Samsung Electronics Co’s lead in the world’s second-largest market, plans to raise more capital to help it break away from foreign rivals. The company is considering outside investment to developBLOOMBERG; PHOTO: BLOOMBERG - 785 words
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Advertisement886 2015-03-24 16 THE BUSINESS TIMES Ik 1 f 1 ✓"'I Toll free 1800-289-8822 I fl I Email notices@sph.com.sg 1 j www.sphclass.com.sg/notices SBS TRANSIT LTD (Incorporated in the Republic of Singapore) (Co. Reg. No.: *****6653M) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twenty-Second Annual General Meeting of the Company886 words
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Advertisement285 2015-03-24 16 IN THE MATTER OF THE COMPANIES ACT (CAP. 50) AND IN THE MATTER OF SUNWAY MANAGEMENT SINGAPORE PRIVATE LIMITED (In Members’ Voluntary Liquidation) (Co. Reg. No. *****4981K) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act (Cap. 50) the Final Meeting of285 words
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Advertisement14 2015-03-24 16 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices14 words
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Advertisement13 2015-03-24 16 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Mergers Acquisitions Notices13 words
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Advertisement3080 2015-03-24 17 Keppel Telecommunications Transportation Ltd Co Reg No: *****0115G (Incorporated in the Republic of Singapore) Notice of Annual General Meeting/Closure of Books ALL MEMBERS ARE CORDIALLY INVITED TO ATTEND the annual general meeting of Keppel Telecommunications Transportation Ltd (the “Company”) to be held at Raffles City Convention Centre, Atrium Ballroom, Level3,080 words
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Advertisement17 2015-03-24 17 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices17 words
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Advertisement107 2015-03-24 17 HOTEL GRAND CENTRAL LIMITED (Incorporated in the Republic of Singapore) Company Registration No. *****0243H LOST SHARE CERTIFICATE Notice is hereby given that the following share certificate has been reported lost, destroyed or mislaid:Name Certificate No. No. of Shares Chan Chee Kong *****0 396 Notice is also hereby given that the107 words
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CONSUMER
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Article, Illustration731 2015-03-24 18 Company has eye on drugs for Alzheimer’s, ALS; CEO to drive drug development for some hardest-to-treat diseases REUTERS New York BIOGEN IDEC Inc has seen its market value quadruple in three years to more than US$100 billion on the back of its successful multipleREUTERS; PHOTO: REUTERS - 731 words
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683 2015-03-24 18 Move into segment driven by demand from millennials market REUTERS London DRIVEN by the demands of a new plugged-in generation seeking “authentic” travel experiences with a local feel, the world’s biggest hoteliers are moving into a new sector in Europe the “lifestyle” boutiqueREUTERS - 683 words
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Advertisement1723 2015-03-24 18 The Business Times Ik I Toll free 1800-289-8822 I M I I Email notices@sph.com.sg I V i j L J www.sphclass.com.sg/notices TECHCOMP (HOLDINGS) LIMITED 天美控股有限公 (incorporated in Bermuda with limited liability) (Hong Kong Stock Code: 1298) (Singapore Stock Code: T43) NOTICE OF ANNUAL GENERAL1,723 words
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Advertisement567 2015-03-24 18 STATUTORY DECLARATION BY DIRECTOR OF SOON LOONG ENGINEERING CONSTRUCTION PTE. LTD. (Co. Reg. No. *****2156M) I, Foo Piow Swoon of 458 Pasir Ris Drive 4, #09-323, Singapore *****8 NRIC No. S*****87C make oath and say as follows: 1. I am a director of the abovenamed company. 2. The abovenamed company567 words
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TRANSPORT
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353 2015-03-24 19 Melissa Tan - Move meant to boost productivity and crew welfare for ships in Singapore’s port waters By Melissa Tan melissat@sph.com.sg @MelissaTanBT Singapore SHIPS in Singapore’s port waters can now access high-speed broadband for up to 15 kilometres away from Singapore’s coastline,353 words
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Article, Illustration588 2015-03-24 19 BLOOMBERG Milan PIRELLI C SpA’s biggest shareholder has agreed to sell its stake to ChemChina in a deal that will lead to a takeover bid valuing the Italian tyremaker at about 7.1 billion euros (S$10.56 billion). State-owned ChemChina agreed to payBLOOMBERG; PHOTO: REUTERS - 588 words
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358 2015-03-24 19 BLOOMBERG Singapore BOEING Co, the second-biggest US government defence contractor, expects South-east Asian demand for defence equipment to grow rapidly as economic growth enables them to boost purchases. “The South-east Asian market isn’t as large as other markets, butBLOOMBERG - 358 words
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814 2015-03-24 19 REUTERS Toronto CANADIAN National (CN) Railway’s safety record deteriorated sharply in 2014, reversing years of improvements, as accidents in Canada blamed on poor track conditions hit their highest level in more than five years, a Reuters analysis has found. Canada’sREUTERS - 814 words
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545 2015-03-24 19 BLOOMBERG New Delhi THE biggest surge in an airline stock in the world since mid-December faces risks from a fight over planes. The 63 per cent climb in India’s Spicejet Ltd from a December low, fuelled by its bailout fromBLOOMBERG - 545 words
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424 2015-03-24 19 BLOOMBERG New York US regulators are looking into whether a recall last year by Nissan Motor Co, Japan’s second-largest automaker, failed to fix a flaw in the air-bag control systems on almost one million vehicles. The National Highway Traffic Safety AdministrationBLOOMBERG - 424 words
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GOVERNMENT & ECONOMY
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Article, Illustration616 2015-03-24 20 Prices that are rising faster than incomes and tight loan conditions among factors holding back purchases LATEST US DATA BLOOMBERG Washington SALES of previously owned homes fell short of a five million annual rate in February for a second month, showing anBLOOMBERG; PHOTO: AFP - 616 words
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431 2015-03-24 20 BLOOMBERG London CENTRAL bankers are realising that what happens abroad matters more than ever to inflation at home. In the past month, policymakers from Ottawa to London have used speeches to highlight how their local inflation rates may be drivenBLOOMBERG - 431 words
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388 2015-03-24 20 BLOOMBERG Zurich THE Swiss National Bank (SNB) is considering a form of foreign currency quantitative easing, as suggested by the International Monetary Fund (IMF). “What the IMF is recommending is a kind of pre-announced asset purchase programme,” SNB Alternate Governing BoardBLOOMBERG - 388 words
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382 2015-03-24 20 AFP REUTERS Frankfurt THE German economy, Europe’s biggest, will notch up “strong” growth in the first half of 2015, driven by robust exports and buoyant consumer spending, the German central bank or Bundesbank said on Monday. “The German economy, following surprisingly strong growthAFP; REUTERS - 382 words
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Article, Illustration364 2015-03-24 20 REUTERS Tokyo JAPAN’S government upgraded its view on the overall economy for the first time in eight months on Monday, noting a moderate recovery trend as factory output is picking up on the back of improving corporate activity. In itsREUTERS; PHOTO: AFP - 364 words
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597 2015-03-24 20 IMF’s Lagarde welcomes China’s creation of new infrastructure bank AFP Hong Kong INDONESIA will seek to host the Asian Infrastructure Investment Bank’s (AIIB) headquarters, the finance minister of South-east Asia’s largest economy said on Monday, though the new multilateral lender isAFP - 597 words
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560 2015-03-24 21 Overseas firms could be allowed to own majority stakes in local ventures as soon as this year BLOOMBERG Hong Kong CHINA is considering sweeping changes to its securities industry that would allow foreign banks to control their local joint ventures and broadenBLOOMBERG - 560 words
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676 2015-03-24 21 BLOOMBERG Tokyo THE Bank of Japan’s (BOJ) own researchers are undermining governor Haruhiko Kuroda’s view that the market is functioning fine as the central bank buys an unprecedented amount of debt. Some indicators suggest liquidity in Japanese government bonds is falling afterBLOOMBERG - 676 words
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Article, Illustration809 2015-03-24 21 BLOOMBERG Frankfurt MARIO Draghi pushed back against concerns that the European Central Bank’s quantitative easing (QE) plan will be hampered by a shortage of bonds available to buy. “We see no signs that there will not be enough bondsBLOOMBERG; PHOTO: BLOOMBERG - 809 words
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Article, Illustration880 2015-03-24 21 BLOOMBERG Jakarta INDONESIA’S foreign-exchange reserves, the smallest in South-east Asia relative to economic output, are coming under scrutiny as the central bank starts to combat the rupiah’s slide to a 16-year low. “Indonesia is not in a comfortable range whenBLOOMBERG; PHOTO: REUTERS - 880 words
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OPINION
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Article751 2015-03-24 22 Stefan Bielmeier - By Stefan Bielmeier T The writer, a member of the OMFIF advisory board, is global head of research and economics and chief economist at DZ bank THE European Central Bank (ECB) is well aware that, through its quantitative easing (QE) programme, it is taking751 words
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Article, Illustration797 2015-03-24 22 Frank Ching - THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter at: @FrankChing1 THE China-backed Asian Infrastructure investment Bank (AIIB) hasn’t opened its doors for business yet, but already it has strained relations between797 words
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Article, Illustration1360 2015-03-24 22 ASIT K BISWAS - The key one is that utilities companies will continue losing the trust of consumers. Even Singapore’s PUB suffers this lack of trust, in that 3 to 4 in 10 households continue to boil their water. BY ASIT K BISWAS water.BY ASIT K BISWAS TPHOTO: REUTERS - 1,360 words
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Article, Illustration902 2015-03-24 23 Anthony Rowley - COMMENTARY By Anthony Rowley PEOPLE who are in a position to know have been saying loudly and clearly of late that we may be headed towards another global financial crisis. But it seems that these are “voices crying in the wilderness” and902 words
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Article, Illustration742 2015-03-24 23 Peter Thal Larsen - By Peter Thal Larsen REUTERS BREAKINGVIEWS IF ANY country knows about the risks and rewards of building infrastructure, it is China. Over the past two decades, the People’s Republic has erected countless roads, dams, power plants, bridges and airports in its pursuit of economic development. TheREUTERS BREAKINGVIEWS; PHOTO: REUTERS - 742 words
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Article, Illustration1078 2015-03-24 23 Leon Hadar - Policymakers may or may not consider lessons of 1937 before deciding on rates, but the changing economic conditions could play a more important role in affecting their decision By Leon Hadar TAKE a look at the newspaper headlines reporting on thePHOTO: BLOOMBERG - 1,078 words
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994 2015-03-24 24 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Vladivostok 596E 25 Mar 19 Apr 06 May 10 May 11 May 12 May 16 May 17 May 20 May 20 May Hyundai994 words
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Advertisement178 2015-03-24 24 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 Spotlight Award Wins Recognition Come178 words
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LIFE & CULTURE
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Article, Illustration1049 2015-03-24 25 They deliver three biggest Hollywood live-action openings of 2015, leaving young men far behind NYT Los Angeles HEADING into the all-important summer movie-going season, two converging box-office trends are startling studios: Women are driving ticket sales to a degree rarely, if ever,NYT; PHOTO: WALT DISNEY PICTURES - 1,049 words
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Article, Illustration598 2015-03-24 25 AFP Monrovia THE people of Monrovia’s Peace Island ghetto, refugees of civil war who found themselves suddenly overwhelmed and outmanoeuvred by the deadly Ebola epidemic, are used to life under siege. Yet with Liberia emerging from the worst outbreak in historyAFP; PHOTO: AFP - 598 words
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1199 2015-03-24 25 WP Sydney THERE’S a revolution under way in stroke care, and it’s not just patients who stand to benefit. Medtronic and others who make tiny surgical devices to pluck blood clots from the brain are set for aWP - 1,199 words
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Page 25 Miscellaneous
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Miscellaneous339 2015-03-24 25 CRYPTIC CROSSWORD Across 1 Early music without instrumentation (4,6) 6 Early man discovered across Dorset/Hampshire border (4) 10 Suffering at the back of cold entrance (5) 11 Work that could get sewer functioning (9) 12 Room seen through the French window (7) 13 Feeble walker is old, retd, drunk (7)339 words
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SME
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Article, Illustration905 2015-03-24 26 MINDY TAN - Preschool education provider opens its first school in Myanmar and expects its first school in Vietnam to be operational by September.By September.By MINDY TAN tanmindy@sph.com.sg @MindyTanBT MODERN Montessori International Group (MMI) is starting to reap the rewards of the groundwork they laid out in the905 words
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Article, Illustration948 2015-03-24 26 Mindy Tan - By Mindy Tan @MindyTanBT tanmindy@sph.com.sg WITH its more portable and affordable offering, Universal Robots has been working hard to make robots accessible both at its price point and simplicity in implementation to small and medium-sized enterprises (SMEs). Last week, the developer and manufacturer of flexiblePHOTO: YEN MENG JIIN - 948 words
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922 2015-03-24 26 Upasna Kakroo - COMMENTARY By Upasna Kakroo T The writer is a digital storytelling consultant with Unified Inbox, a Singapore-based technology startup. She is co-founder of a content marketing branding startup, Brandanew. Her previous experiences include Rocket Internet, Experteer and McKinsey Co. She has been922 words
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