The Business Times, 11 July 1977

Microfilm: NL9344
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    9 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, JULY U, 1977 soCENTS
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  • NEWS IN BRIEF
    • Article
      Tariffs on carpets
      97 1 CANBERRA, Sun. The Australian government has increased tariffs on imported carpets because of the depressed state of the Australian carpet Industry and the high level of Imports. The decision refers specifically to kitchen carpets and tufted carpets and the Increased duties apply for six months from today.
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    • Article
      Lock icon Habib in pullout talks
      54 1 Reuter SEOUL, Sun. US Undersecretary of State phlllp Hablb .arrived here today for talks with American officials In South Korea on the planned phaseout of US ground troops here and other bilateral questions. This will be followed by a visit of the US Defence Secretary, Harold
      Reuter  -  54 words
    • Article
      Lock icon Somare heading for win
      65 1 Reuter PORT MORESBY, Sun. Prime Minister Michael Somare's coalition government appeared headed for victory today as counting resumed In Papua New Guinea's general election. With half of the tally completed, his Pangu Party had picked up several seats and'lts coalition partner, the People's Progress Party (PPP)
      Reuter  -  65 words
    • Article
      Lock icon EEC-S-E Asia trade
      76 1 AFP MANILA, Sun. The EEC has adopted a sixpoint assistance scheme to Increase trade exchanges with South-east Asian countries, a Filipino business consultant Just returned from Brussels said today. Konsulta Philippines president Mario Allnea said the scheme covers assistance in trade fair participation, organising trade missions to
      AFP  -  76 words
    • Article
      Lock icon Red camp blasted
      72 1 Reuter BETONG, Sun. Malaysian artillery today blasted a main communist base In the Jungle of Betong salient where Thai and Malaysian troops were engaged In combined oDerations against guerilla sanctuaries, a Malaysian Held commander said here. Brigadier-General Hassan Salleh told reporters that the camp hit by 105
      Reuter  -  72 words
    • Article
      Lock icon All the minerals in China
      76 1 Reuter HONGKONG, Sun. AH of the more than 140 useful minerals so far known to the world haxfi. been located in China, the New China News Agency reported today. Reserves of 132 of these have been verified to be in quantities large enough for mining
      Reuter  -  76 words
    • Article
      Lock icon Yamani seeks price pact
      95 1 AP JEDDAH, Sun. Saudi Arabia is pressing for a new price differentials agreement by the 13member Organisation of Petroleum Exporting Countries to curb Independent oil pricing practices by individual exporters, Oil Minister Sheikh Ahmed Zakl Yamani said over the weekend. Saudi Arabia is the only oil
      AP  -  95 words
    • Article
      Lock icon First for C-Mart?
      82 1 AFP PEKING, Sun. China and the European Economic Community last week completed preliminary talks on a tirade agreement, the first the Common Market will have signed with a communist country. It Is still impossible to determine when a future agreement will be signed. On the basis of
      AFP  -  82 words
  • Article
    TOP TEN STOCKS
    112 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low far 1977. Company Turaor< •m w Prion JulyS HKk 1877 htm
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      63 1 J«Uy4 Mjr« July 7 MyO ttBT Index: 323.48 323.20 320.40 327.00 332.00 Industrials: 257.00 250.00 257.03 250.50 250.01 Finance: Hotels: 425.00 430.14 427.70 427.00 430.04 > 104.00 103.02 106.13 104.00 106.10 'Properties: 105.10 100.10 100.04 100.04 100.07 tTlns: 107.05 107.05 107.05 100.33 100.43 19 rubbers: 340.70 340.00 341.34 342.25
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    • Article
      MALAYSIA
      74 1 Mr Myi MjrT Mrl ttBT Index: 308.81 308.03 328.38 328.91 338.00 Industrials: 284.79 284.38 288.89 288.04 288.88 0 Finance: ••Hotels: 372.48 374.18 374.28 378.82 378.88 172.82 172.82 172.82 172.82 172.87 •Properties: 190.98 184.81 182.22 188.02 188.22 tTlns: 112.13 111.88 111.75 112.83 114.27 t$ rubbers: 318.34 318.81 317.18 317.24 317.42
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  • Article
    Sequel to heavy withdrawals?
    951 1  -  HIGHER CPF CONTRIBUTION •y QUEK PECK LIM THE Government's move on Saturday to raise the rate of contribution to the Central Provident Fund (CPF) the first such increase since May 1974 is not unexpected in the light of several recent developments which have had an impact
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  • Article
    Call for fuller disclosure by companys
    292 1 THE president of the .Singapore branch of the Association of Certified Accountants (ACA) has called for fuller disclosure of Information relating to company performances. Speaking at the annual dinner of the association over the weekend, Mr Jonathan Ou Hln Eng said this move can
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  • Article
    Lock icon Yamani tells why indexing of oil price is out
    462 1 AP JEDDAH, Bun. —Oil price# will ouUtrtp world Inflation rates after 1078, Saudi Oil Minister Sheikh Ahmed Zakl Yamanl predicted in an interview published here over the weekend. "Therefore, I personally believe that the Idea of Indexation or Unking oil prices
    AP  -  462 words
  • Article
    Lock icon EEC growth unlikely to hit earlier forecast
    368 1 Reuter BRUSSELS, Sun. A report under preparation in the European Common Market commission predicts a lower economic growth rate this year in the Community than earlier expected, informed sources said today. The report, due to be presented to EEC finance ministers on July
    Reuter  -  368 words
  • Article
    Lock icon 'Pay will outpace prices'
    262 1 Reuter LONDON, Bun. Pay rises In Britain will outstrip price rises in the coming year, according to the widely quoted Henley Centre for Forecasting here. Wages and salaries will go up by about 14 per cent In the 12 months from the end of July, when
    Reuter  -  262 words
  • Article
    Lock icon BRITISH LIVING DOWN
    109 1 AFP LONDON. Bun. Britain's standard of living fell to its lowest point for four years In the first half of 1977. OfflcUL- statistics released laU kst week abowed that buying power fell 2 per cant lntheiast six months, following a 3 par cent drop In the three
    AFP  -  109 words
  • Article
    Students lower their wage targets
    323 1 FIRST-YEAR undergraduates at the University of Singapore have fairly low income expectations compared to what is earned by moot rocent graduates. A survey of the career choices of first-year students at the University of Singapore, undertaken by the Economic Research Centre (ERC), discovered that the
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  • Article
    Lock icon Paving the way for Fraser's visit to KL
    451 1 Reuter CANBERRA. Sun. A working group of Australian officials will head tomorrow for Kuala Lumpur to prepare for a critical meeting between leaders of Asean and Prime Minister Malcolm Fraser early next month. The officials will confer with officials of Asean to
    Reuter  -  451 words
  • Article
    Lock icon Filipinos in Asean car industry talks
    113 1 Reuter MANILA, Sun. A delegation of 20 Filipinos are going to Kuala Lumpur today to discuss the development of complementation of parts for the car industries of Asean to help Increase cooperation and avoid unnecessary duplication. rne Philippines' chairman of the Asean Automotive Technical
    Reuter  -  113 words
  • Page 1 Advertisements
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      29 1 Flic OH j for plain paper copying *Zmuck Wywy Private Limited riMptuibit compmy 39th Floor Hong Ltong Building Singapore 1. SEE BACK PAGE SEE THIS PAGE lIIim»TV Orcneti MirkiU
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      Page 1 Advertisements Column 2
      111 1 NCD? ACBC makes it easy. When you require Negotiable Certificates of Deposit, you'll find it easy to talk to the people at ACBC. ACBC offers high interest rates on NCD's, for minimum deposits of $100,000, on fixed periods of not less than 3 months. ACBC has the resources, experience and
      111 words
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      3 1 SEE PAGE 4
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      125 1 511 GCil DHIt. lei 53'7?2 «M 0 I AV 1 •ixmxtaii I NEW YORK VANCOUVER 'wSAN 1 FRANCISCO kLOS 1 'ANGELES I I HONOLULU I SINGAPORE Jt «Spe«\ :1 MEXICO CITY Only on JAL can you non-stop to Tokyo, then make convenient connections to U.S. and Canada. 39 JAL flights
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  • REVIEWS
    • Article
      WORKING OUT NWC PROPOSALS
      597 2 NOW that the Government, employers and unions have agreed on the wisdom of merit and demerit suggested by the National Wages Council, the next step Is to translate the proposal Into action. But Implementation Is not simple. The mechanics of the system have to be worked
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    • Article, Illustration
      Lock icon Rubens at top form had no equal
      939 2  -  ART By J. RUSSELL: NYT RUBENS has one of the great unalterable reputations. As painter, draftsman, decorator and diplomat, he was regarded during his lifetime as one of the most remarkable men who ever lived, and for once posterity has, if anything, reinforced
      NYT  -  939 words
    • Article
      Lock icon A week of radio broadcasts
      891 2 MUSIC By CKT OF THE entire population having written for the One Man's (occasionally Woman's) Week column on the opposite page, I remember only one fellow who made mention of classical music as relief to the siege of seven days of balance sheets. Every man
      By CKT  -  891 words
    • Article
      Lock icon 'The sacred noise need not be biggest'
      831 3  -  FOR BROWSING ONLY C BOOKS' By CHRISTOPHER LEHMANN-HAUPT NYT Ths Tuning Of The World. By R. Murray Schafer. Ml Paid. Illustrated. Knopf. US 12.96. IT may seem obvious to you that we have a problem with noise in contemporary civilisation. But believe me,
      NYT  -  831 words
    • Article
      A 'must' for businessmen
      203 3 THE latest dictionary of abbreviations, IL SIGLARIO MONDIALE, looks like "must" for all big International traders, bankers and industrialists. Complied by the Banca Commerclale Italians, it contains 17,800 entries of national, multinational and international organisations covering 189 countries 48 languages. It is a painstaking work which
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    • Article
      What the real Nabokov was like
      371 3  -  Christopher LehmannHaupt. NEW YORK: "I have never seen a more lucid, more lonely, better balanced mad mind than mine," Vladimir Nabokov who died last week said of himself with typical perverse elegance. But other opinions varied. To some he seemed decadent; they would say
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    • Article, Illustration
      ONE MAN'S WEEK
      1937 3  -  By GEORGE THOMSON Mr.Tktmnm w—,wmN«sSgUhN**y*e D*Wmrtmmmt Qw—wt ."Villi MONDAY: I opened my mall this morning. No postage stamps! The stamp machine seems to be defeating the stamp designer. Why then do so many countries Issue so many postage stamps In the Interest of art and Information If
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      345 2 Corporate Banking Services in the Far East r Early IVth eenturx Japanese \<>h mask symbttlismg the "Inmate in lem mint heauix Wardley Limited carries out merchant banking activities in the Far East. Based in Hong Kong, Wardley provides banking,advisory and financial services to corporations and to government bodies in the
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    • Advertisement
      Page 2 Advertisements Column 2
      66 2 Deluxe (Set Lunch at I&50 If you're thinking of a quick hinch but want to avoid the usual stuff served in town, come to Four Seasons. From Mondays to Saturdays, our expert chefs prepare complete deluxe set lunches with a bouse specialty as the main course. Monday Grilled Entrecote Toistot
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      262 2 WEATHER report for 24 boon prior to 7.90 p.m. July It at Singapore airport. Maximum Temperature 27.9* C Associated Humidity *7 Minimum Temperature 25.3° C A—ociatod Humidity 91 Hour* of Sunshine 0.00 in MllHiMkvmm 2.5 SINGAPORE 5 3.00 PM Opening announcements followed by Valar Pirai (Tamil-Re-peat) 330 Diary Of Events
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      573 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I Talk pottlly? (5) 6 Natural product of a crane (5) 9 They were placed on the legs (7) 10 A good deal of sense (5) U Possibly a wing and a gler (5) o states the bandmaster (5) 13 Erudite types? (7) IS Work
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      474 3 In 47 years we've made a lot cf connections UIMKER hAMO y tjiHE DATA T|Ht\llfUAi SYSTEMS Used by: Banks Utilities Airlines i I' 11 i J yjjlM I Factories Brokerages Credit Companies jons "K: y Applications: Networking News Retrieval Credit Checking Teller Operations Word Processing Claims Processing Data Base Access
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  • Article, Illustration
    Lock icon Forecast of world wheat surplus is bad tidings
    927 4  -  ■y ROBERT STEPHENS OFNS LONDON: Nothing Is more basic than bread. So one would have expected that last week's report by the International wheat Council, forecasting another bumper world wheat crop this year and expanding wheat reserves, would have been welcomed worldwide
    OFNS  -  927 words
  • Article, Illustration
    Lock icon OPEC MEETING IN CHANGED CIRCUMSTANCES
    1248 4 FOR ONCE OIL DEMAND IS DOWN OFNS LONDON, Bun. When the powerful Organisation of Petroleum Exporting Countries meets In Stockholm on Tuesday to sort out price differences. It will be against a mounting chorus of warnings of Impending energy doom that Is fast becoming almost
    OFNS  -  1,248 words
  • Article, Illustration
    Lock icon When it's cheaper to employ Europeans
    887 4 NYT DUBAI: The office of J. Ray McDermott here will soon have 20 fewer American employees. The company, a major supplier of oil-field equipment, has decided to send the Americans home and replace them with Europeans. Because of a recent change In the tax
    NYT  -  887 words
  • Article
    Lock icon Where you pawn not solely for money
    684 4 Pawnbrokers in Singapore who face the prospect of losing their deposit-taking facilities will look at their Italian counterparts with envy. This is because pawnshops in Italy are receiving a new lease of life they are used by people other than the poor in
    NYT  -  684 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      124 4 And IBS are just the people who can do the job. On any aspect of finance, International trade, Foreign Exchange, Industrial Financing and a whole broad range of credit facilities designed for your corporate needs. We don't just talk we make it our business to help people do, whatever they
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  • Page 4 Miscellaneous
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  • Page 5 Advertisements
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      145 5 BORNEO TRACTORS v v. the Birth of an Industrial Giant The big new name in the heavy equipment industry. BORNEO TRACTORS. B-TRAK. Backing this new division is the full strength of the INCHCAPE corporate structure with decades of involvement in Sabah Sarawak. Our products KEN WORTH logging trucks; TEREX earthmoving
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Tokyo
      456 7 TOKYO: Share prices closed higher on Saturday In fairly active trading, on bargain hunting In the wake of the yen's decline on Friday on the foreign exchange market and In anticipation of inflationary measures to be taken by the government after the Upper House election, dealers said. The Dow
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    • Article
      Amsterdam
      275 7 AMSTERDAM: The market reversed the trend of the past few sessions to close slightly firmer dealers said on Friday. Hoogoven* led Dutch Internationals 0.90 guilders rirmer although Akso fell 0.40. Insurances and shipping were mixed KLM rose 2.70 to more than recover the losses in the previous two sessions
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    • Article
      Brussels
      181 7 BRUSSELS: Most share prices closed higher In quiet trading following the higher Wall Street trend, bourse sources said on Friday. Sidre, Viellle Meatagae, Wagon*-Liu and Setvay rose. Kerne and TabaosOaa were lower and Arked rose marginally despite announcing an 8.1 per cent drop In first lvT7 half steel output.
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    • Article
      Frankfurt
      282 7 FRANKFURT: Shares closed mostly higher on fairly large turnover, bourse sources said on Friday. In electricals. BBC rose five marks and Siemens 3.30 while Deutsche Bank, GHH in engineerings and Vefca In utilities rose around two marks respectively. Demag however lost 3.50 marks. Kaufhof in stores gained four marks.
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    • Article
      Milan
      156 7 MILAN: The market closed irregularly higher In quiet, selective trading, dealers said on Friday. Flat. Pirelli SPA. Snia Viscoaa, Pirelli E. C. and Anic gained in leading Industrials while Montedison was unchanged. Olivetti privileged eased against the trend Assicurazioni Generali was barely steady In Insurances as was Mediobanca In
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    • Article
      Paris
      360 7 PARIB: The market eased In very quiet trading on Friday ;ifter some early gains, with operators holding back ahead of President Olscard ri'Estalng's speech In Carpentras in the afternoon, dealers said. Most sectors weakened. Bunks', however, were firmer, roods and stores steady and electrtcals and chemicals mixed. Germans, oils
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    • Article
      Zurich
      246 7 ZURICH: Prices closed narrowly mixed on Friday with a steadier undertone but trading was quiet, dealers said. Resignation of Mr. Werner Roy from the Bally board helped Bally shares to rise with bearer stocks closing at 1100 (previous closing 1030) and registered at 1040 (1010). JormoU weakened among department
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    • Article
      Jo'burg
      393 7 JOHANNESBURG: The market was active with a firm undertone in most sectors, dealers said on Friday Oold shares firmed across the board on the higher bullion price and strong New York and London buying. Heavyweights gained up to 125 cents while medium and lightweight Issues were up to 30
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    • Article
      Toronto
      277 7 TORONTO: The market closed broadly higher In active trading on Friday with pipeline Issues, oils and gas. golds and financial services leading the advance. The composite Index was up and advances led declines 259 to 170. Moore Corp, which has offered 70 pence for each preference share of Umon
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    • Article
      New York
      1217 7 NEW YORK: Prices closed mixed on the New York Stock Exchange In heavy trading on Friday as the market lacked strength to follow through on a morning rally despite favourable economic news Analysts said early encouragement about the 0.6 per cent drop In June's U8 consumer price Index,
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    • Article
      Indices
      64 7 FINANCIAL TIMES INDUSTRIALS Friday 443 7 Thursday 441.4 Week Airo 451.2 DOW JONES AVERAGE INDUSTRIALS Friday 907.99 Thursday 909.51 Week Aro 912 65 LONDON DOLLAR PREMIUM Friday Ill to 112 Thursday 113*. to 114*4 H.K. HANG SENG Friday 435.98 Thursday 436.80 Week Ago closed SYDNEY INDUSTRIALS Friday 374.35 Thursday
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    • Article
      BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JAN 4, 1971 – 100)
      146 7 BUSINESS TIMES INDUSTRIAL GROUP INDICES (BASE YEAR: JAN 4, 1971 100) 1977 Weekended HIGH LOW INDU8TB1AL GEO UP l/I 1/7 POINT CHANGE 210 59 145 90 Automotive 195.78 188.19 4-2.41 496.57 382 92 Banks. Insurance. Finance and Trustees 363.90 368.29 *4.39 1M 62 136 80 Chemical*. Rubber Product*. Refining and
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    • Article
      Lock icon NYSE prices move lower
      313 7 NYT CONCERN about the durability of the business recovery hung like a cloud over the stock market last week and pushed prices modestly lower on Wall Street. Even the Friday morning news that the wholesale price Index In June dropped 0.6 per cent the greatest decline
      NYT  -  313 words
    • Article
      Lock icon Strong rally in Tokyo
      315 7 AFP TOKYO stock prices finished the week on a strong upbeat, recovering losses they took earlier amid monetary turmoil. Earlier on the yen's rising value dampened trading on the stock market and raised fears it might soon hurt the nation's exports. However, when the Bank of
      AFP  -  315 words
    • Article
      CHICAGO BOARD OPTIONS
      1466 7 On July 8 TRADING in options on the Chicago Board Options Exchange came to 111,246 contracts compared with 111,381 contracts on Thursday. OPTION JLY OCT JAN STOCK Alcoa 90 2 1/4 3 V4 UNTRD 93 1/4 Alcoa ao 1/10 3/1 1 1/10 92 1/4 Am Exp 36
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  • Page 7 Advertisements
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      313 7 Fly these airlines to anywhere in the world AaraHat Saviat AiHiw— Raa4, Sinfopara 9 (Tal: 377.111) Air Finn fin,,, A fl, |ri f IV® Ha|a»m 1 (Tal: *****11) Air InAa IMi Rmt, UK (T«J: 2205.277) 1. (Tat titJM) Air Stem Air Ca LM 621 lutamatltaal Hm (Tab 2204.211) AiM« Haly'a
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  • COMMODITY REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      196 8 LONDON, Sun. Terminal prices met scattered profittaking during Friday afternoon to close easier and mostly 1.20 pence to 0.15 pence down from Thursday night. Volume was 15 lots at five tonnes and 127 lots at IS tonnes Including the posting of two further call options during the
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    • Article
      Straits tin
      117 8 THE Straits tin price 1A Penang on Saturday rose 821 to 81,521 per plcul on an official offering up 50 tonnes to 235 tonnes In LONDON on Friday tin rose by £25 all round for standard metal. High Grade gained £25 for Cash and £10 for Three months.
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    • Article
      Produce exchange
      278 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL ON SATURDAY. Cbconut Oil: Bulk $07* sellers, old drum W2W sellers, new drum W7Vt tellers Copra Mixed (loose) UK/Cant. $54 Pepper Muntok AST A white f.o.b. 100* NLW 1405 sellers, Sarawak white f.o.b. M% NLW <306 sellers, Sarawak special
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    • Article
      Palm oil
      71 8 CXF. Rotterdam price* quoted in London on Friday In US dollars per Pre*. M&laysl* s% ft* bulk Auf Sumatra 5% July Aug Sep Oct Sterling per long ton ROTTERDAM: Sumatra Aug Any origin July/Aug Zaire Belg francs per kilo 500 air 310 pd 610 «IT 900 Ac 405
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    • Article
      Lead
      53 8 LONDON, Sun. Lead finished with losses of mostly £1 per tonne on Friday. The market was quiet but steady at £324 for Three Months following the steadiness In copper. Sales were only 675 tonnes. Late short-covering on the Kerb gave values a further boost and Three Months touched £327
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      Zinc
      66 8 LONDON, Sun. Zinc closed with gains of £3.50 for Cash and £2.75 for Three Months on Friday. Values held steady In the Ring where Three Months traded at £320.50 but later firmed to £325 on the Kerb under late covering which was partly prompted by news that Hoboken was
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      Tin/rubber prices
      41 8 July 4 MjrS Jwljl Myl **8 Jmb$ Tin: $1,448 $1,457 $1,492 $1,492 $1,500 $1,521 Tonne: 17® 185 250 225 185 235 tRubbers(S) 187.25 187.50 185.50 180.50 188.50 tRubber<M) 180.25 189.75 189.25 189.75 190.75 per plcul t cents per kilo
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      Gold
      495 8 IN the Singapore gold market on Saturday, the kllobar opened at l 11,817 and fluctuated within a narrow range of 88.00 before closing at the same level. Trading was quiet. In the loco London market, gold prices had a narrow range of U580.20. it opened at USBI4I.OQ/ 142.80 and
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      Coffee
      386 8 LONDON, Sun. Futures closed Irregular on Friday, but with gains against Thursday night of £55 to £2 per tonne. Volume was 3901 lots Including 28 options. Near months again attracted much of the day's trading Interest but distant positions, although neglected, rose In sympathy. Sept closed £41 higher at
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      Copper
      256 8 LONDON. Sun. Copper wlrebars on Friday were basically unchanged. The market met moderate preweekend short-covering prompted by the steady tone m US futures, dsaters said. At the same time, fresh -physical demand was still scares and sentiment mostly reflected the unresolved labour eontraet nego* tlatlons betwen US companies the
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      Silver
      261 8 LONDON. Sun. Sliver closed 0.3 pence higher to 0.1 pence lower on Friday. The market continued to lack feature and values fluctuated narrowly in line with the New York trend, dealers said. Three Months finished trading at 263.3 pence in the Ring and at 263.8 pence on the Kerb.
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      Soybeans
      216 8 CHICAGO, Sun. Soybean futures finished 12.00 cents lower on Friday In the nearby to unchanged In January. The nearby months remained under pressure as bull spreads were liquidated by selling nearbys and buying new crop months. Nearby beans also attracted selling partly In response to the sharply lower soybean
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      Rice
      207 8 BANGKOK. Sun. Thailand has sold 125,000 tonnes of rice worth US$2B million to Malaysia on a govern-ment-to-government basis, Commerce Ministry sources said last week. The grain consisted of 100,000 tonnes 10 per cent white rice, 15,000 tonnes 100 Kr cent 888 grade and ,000 tonnes AAA One Super, for
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      Wheat
      182 8 CHICAGO, Sun. Wheat futures finished a lackluster session on Friday by retaining marginal gains of to lit cents a bushel. Heavy buying possibly as much as one million bushels each by a leading professional and an e»ort broker, gave the market a firm tone which continued for the rest
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      Sugar
      196 8 LONDON, Sun. Terminal sugar officially closed "barely steady" on Friday although up from Thursday night by mostly £0.56 (near Oct at £114.25) to £0.70 per tonne. Near August was lower, however, by £0.40 due to belated liquidation and was traded down to £106.00 a new contract low. Dealers said
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    • Article
      Gocoa
      228 8 LONDON, Sun. Terminal cocoa broke sharply lower at mid-afternoon on Friday from a £40 limit fain on the larger than expected decline In US second quarter grind figure* —14.7 per cent against earlier Evictions of a 10 per cent 1. But the market was irregularly held In the late
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    Singapore
    192 8 ON the whole, trading was a active last week, but turnover was reported mainly for the Japanese yen and Deutsche-mark, which fluctuated violently against the U8 dollar. The U8 dollar plunged sharply against an European currencies on balance because of an OBCD Communique saying that surplus countries were willing
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    Minimum lending rates
    39 8 acbc m M Chieaco IH AlgMMM Buk m rttika»k Baacluk Buk 7 I .<■*****11 1 T(> "^W 1 "'I*' 1 M IMMW MaUyaa BuUa MiUri Buk I MMMST T OUB Ckmm Maahattaa «H UC8 UMBC (JOB
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    Asian $ rates
    196 8 Asian rates RATES firmed slightly last week, more notably in short dates, with good names bidding In the middle across the board but steadied as US basic money supply increased marginally, Ml up $100 million and M 2 rising $0.5 billion. ASIAN currency nertp SapoatU rates for the «Mk ended
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    Discount market
    323 8 MONEY market conditions remained firm throughout last week with interbank overnight funds traded as high as ft 3/4 per 3nt. Term deposit rates firmed up by 1/8 per cent across the board. The prevailing tight conditions caused moderate shortages in the discount market on certain days, resulting In
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    Short term money
    40 8 FOR the weak ended Friday July 8, the tangs of eall rates received from Short Dapoatta (M) Bemad wu as foUowi: BptNK FUND 8 to ftVWt GENERAL FUNDS: 3MM to 6%% Movements of funds totalled 8873 mlUocK
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    New York
    209 8 NEW YORK, Bun. The dollar closed weaker against most currencies in dull trading here on Friday. The fall came almost entirely In early trading, following the release of the June wholesale price Index and unemployment figure*. While the WPI showed a 0.6 per cent decline, the largest In
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    Zurich
    563 8 ZURICH, Sun. The dollar's weaker trend, evident already In late June, gained momentum last week. IU losses were particularly steep against the currencies of current account surplus countries. On Thursday, the dollar/yen relation fell to as much as 263.20 (a 3-year low), the dollar/D-mark rate to 2.3040 (a 2-year
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  • Article
    Euro $ rates
    89 8 Euro rates LONDON, Son. EurodoDar deposit rale* closed bartrany steady oh Friday with weekend influences making for a contraction tn trading, dealers all Carly interest centred around shortdates and wsstosnd rate sonsned to 2 3/18 traded after touching 2 5/16 2 3/16 during the day. Period rata* held steady and
    89 words
  • Article
    Price disparity amid better sentiment
    645 8 SENTIMENT took a turn (or the better In most sectors of the Singapore produce market last week. Dealings, however, were generally light for want of proper pricing ideas from overseas markets. For the better part of the week, trading was characterised by the wide disparity
    645 words
  • Article
    London
    286 8 LONDON, Sun. The dollar virtually erased earlier gains as operators took short positions In the currency on Friday ahead of the weekend, dealers said. Speculation that the mark could strengthen towards 2.2900 against the* dollar from its present 2.3007/17 next week reversed an earlier dollar advance on profit-taking an
    286 words
  • Article
    Frankfurt
    43 8 FRANKRUFT exchanges closing quotes on July 8 US 2.3068/ 73 Can 2.1790/ 75 UK 3.906/ 970 Neth 93.78/ 80 Bwit* 96.06/ 96.10 Italy 2,610/ 615 France 47.38/ 40 Japan 0.8706/ SO Bel( (Mm 6.440/ 445 Belg fin. j MI/ NOT 43.42/ 4T
    43 words
  • Article
    Lock icon Money market
    39 8 Source: Astley Pearce with rates flrmln* ste*ftcantly towards the veakend. O/N rmtc ftrmeAto Vi on rrldtj caiudhf the One Month to dose similar to the twos and thraea at ft. Activities wen seen mostly in the anas.
    Source: Astley & Pearce  -  39 words
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      92 8 |t£jn ■JP FURfIITURE For OFFICE EQUIPMENT and QUALITY SHELVINGS 1 111 A complete range of quality office furniture and equipment consisting of desks, cabinets, chairs and all other office requirements. Immh JM I ji sn I s Ml LJ OEM open and dosed type shelvings provide flexible load carry capacity
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  • Article, Illustration
    Lock icon CLIMBING THE HEIGHTS ON A BITTER PILGRIMAGE
    1417 9  -  After time-trial, Nickson spat so drily his saliva almost bounced HUGH McILVANNEY, writing from Qaecony, on ttw extreme domende on body,. spirit and everyday habits which mako ttw Tour da Franco aporfa auprama challenge HUQH McILVANNEY The Observer IF John Bunyan had devised
    The Observer  -  1,417 words
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    Watson pips Nicklaus in pulsating duel in the British Open
    1011 9 TURNBERRY, Scotland, Sun. Gritty Tom Watson absorbed the best Jack Nlcklaus could throw at him, responded with a courageous five-under-par 65 and won the British Open yesterday In one of golf's greatest duels. Watson, now offering the most serious challenge
    1,011 words
  • MONDAY SPORTS
    • Article
      Tengah pull off first double triumph
      856 9 TENGAH Oolf Club pulled off the biggest win In this year's Singapore Oolf Club league competition when they beat the former champions, Seletar Oolf Club, In both the Premier and Handicap League at Tengah Base yesterday. It was Tengah's first double victory In the
      856 words
  • Article, Illustration
    Lock icon Ashe on comeback trail
    307 9 AP MIAMI, Son. American tannia atar Arthur Aahe, who haa hobbled moot of the year bocauae at a foot Injury. aays he's finding the comeback road iant eaay. At Wimbledon, Ashe learned that aleatory la pretty abort. Aahe, who wen the mon'a aingiea title In 1*75,
    AP  -  307 words
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    Lock icon 'Gutsiest display' by Lions
    255 9 AFP AUCKLAND, Sun. Phil Bennett's Lions staged the "gutsiest display" ever by a British forward pack to beat New Zealand 13-9 In the 2nd rugby union International yesterday; This was how Alex Veyaey In the Sunday Times today summed up the match. "Eight men who were
    AFP  -  255 words
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      145 9 restaurants ««L mm > ,w 1%, w: y< ■v.-"* *v* ■si,. >4 ■m r r y ft* m'ltfrfft" >• <: y'^i' The new fikgt Chresty Beaufort -Flexble PeakThe new Christy Beaufort FP riding cap incorporates a specially designed flexible peak which enhances, even further, the safety and protection given by
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  • Article
    Lock icon Malaysia argues case for sugar pact changes
    438 10 Reuter, NYT KUALA LUMPUR. Sun. Malaysia has written to the Australian government restating its case for changes in its long-term sugar buying contract with CSR Ltd, senior government officials said. But the letter, handed to the Australian High Commission in Kuala Lumpur on
    Reuter,; NYT  -  438 words
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    Lock icon Soviets may not build Indonesia alumina plant
    270 10 AFP JAKARTA, Sun. The Soviet Union has put off plans to build a US$4OO million (Ss9B4 million) alumina plant on the Indonesian Island of Blntan, south of Singapore, because of a disagreement over procurement of the plant equipment. According to Mining Ministry spokesman
    AFP  -  270 words
  • Article
    Lock icon The innocent pawns in Arab boycott
    220 10 UPI NEW YORK, Sun. Three US corporations and two banks, cited last month by the Arab Boycott Committee for compliance with the anti-Israeli boycott, "were being used as innocent pawns in an Arab propaganda effort to counter the N.W US anti-boycott law." the Antl-Defama-tion
    UPI  -  220 words
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    Lock icon LDP takes early lead in polls
    137 10 AFP TOKYO, Sun. The ruling Liberal-Democratic Party (LDP) took an early lead In Japan's Upper House election, four hours after vote counting began In most of the 47 prefectural constituencies The LDP took 21 seats while Its arch-rival Japan Socialist Party (JSP) three as
    AFP  -  137 words
  • Article
    Quality garments face less competition
    216 10 A FORUM on "Productivity and Market Situation of the garment and textile Industries," organised by the NaUonal Productivity Association (NPA) last week, has made a strong recommendation that local industries should aim at manufacturing quality products In the higher price range. This they can do
    216 words
  • Article
    Lock icon Senegal to have complex under one roof
    189 10 AFP DAKAR (Senegal), Sun. Senegal this weekend signed with an international consortium to build an Integrated textile complex whose production will be entirely for export. The works, due to be operational by 1980, will be built 200 kms south east of here at
    AFP  -  189 words
  • Article
    No entry for small m-cycles
    100 10 BANGKOK, Sun. The Thai government has banned the Import of motorcycles of 150 cc and under In a bid to protect the local motorcycle Industry. A list of new regulations issued by the Industry Ministry said a temporary ban had also been imposed on the
    100 words
  • Article
    Lock icon Fraser's visit did the trick
    85 10 Reuter BRUSSELS, Sun. The Common Market Commission has adopted a more flexible position on Its request last month for a 25 per cent cut in exports to the .EEC of Australian finished steel products, Australian officials said here. The officials said as a result of
    Reuter  -  85 words
  • Article
    Lock icon Move afoot in UK to curb Japanese TVs
    474 10 Agencies LONDON, Sun. British left-wing parliamentarians Intend to put pressure on the government next week to restrict imports of colour television sets from Japan and elsewhere. This follows an announcement on Friday that Japan sent more than twice as many sets to
    Agencies  -  474 words
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    Lock icon Anxious wait for steel duty decision
    388 10 Reuter BONN, Sun. West German government and business officials say they are very anxious about the threat to free trade posed by United States Steel Corporation's court attempt to limit steel Imports from the EEC through Imposition of special duties. Their concern extends beyond
    Reuter  -  388 words
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    Lock icon Canada clamps quotas on Hongkong textiles
    257 10 AFP TORONTO, Sun. Canada decided on Friday to restrain imports of two textile products from Hongkong as part of a programme to protect Its domestic textile industry, a commerce department spokesman said. The spokesman said the decision to set quotas on Imports of bedsheets
    AFP  -  257 words
  • Article
    Changi Airport capacity is four times greater
    278 10 CHANGI International Airport will be able to handle by 1982 four times the number of aircraft movements handled by Paya Lebar Airport at present. Paya Lebar can only handle 22 aircraft movements per hour whereas Changi will be able to handle 80 aircraft
    278 words
  • Article
    'Reshape attitude' call
    222 10 BUTTER WORTH, Sun. Malaysian businessmen must reshape their attitude to look forward to more Slno-Malay cooperation and joint ventures (or achieving the target of share capital ownership, MCA secretary-general Dr. Neo Yee Pan said last night. "Cooperation among Malaysians In our economic endeavour and Slno-Malay £>lnt ventures
    222 words
  • Article
    Lock icon US won't class tax benefits as subsidies
    179 10 Reuter WASHINGTON, Bun. The US assured Its major trading partners that it opposes moves by US companies to have foreign tax benefits for steel and television exports declared as subsidies under US law. A definition of such benefits as subsidies could lead to
    Reuter  -  179 words
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    Lock icon Chinese output better this year
    131 10 AP HONGKONG. Sun, China reported that Its Industrial production for the first six months of 1977 surpassed the comparable period of 1976 and that its petroleum Industry has attained record high production, Hongkong's two leading communist newspapers reported over the weekend. Ta Kung Pao and
    AP  -  131 words
  • Article
    Far and wide
    47 10 PENANO, Sun. A result of the erosion of Fenang's free port status is that the state has become a big exporter of manpower to places as far as Jeddah and Christmas Island, Mr. N. Shanmugam, chairman of the Penang Hindu Youth Council, said today.
    47 words
  • Article
    Lock icon Syndikats appeals against cancelling of licence
    234 10 Reuter ZURICH, Sun. An official of the Federal Court of Appeal in Lausanne canfirmed Syndikats has filed an appeal against the withdrawal of Overseas Development Bank's licence by the Federal Banking Commission. C F Bally AO resold this bank to Syndikats at the end
    Reuter  -  234 words
  • Article
    IT PAYS TO HOLD FESTIVALS
    413 10 FESTIVALS of food, wines, arts and crafts organised by Singapore's principal hotels in conjunction with International airlines are more than Just an enjoyable break from the everyday hotel Industry routine. Industry experts estimate the amount spent last year getting these festivals off the ground at
    413 words
  • Article
    Lock icon OFFICE IN STORE
    33 10 Reuter CHICAGO, San. American National Bank and Trust Co said it received permission to establish a representative banking office in Singapore. The office is scheduled to open in midAugust. Reuter
    Reuter  -  33 words
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    Lock icon Rubber mart is basically strong
    257 10 AFP IPOH, Sun. Deputy Minister of Primary Industries, Mr. Paul Leong. said over the weekend that the underlyinc force of the rubber market Is still strong. His optimism was based on the net that despite the current depressed prices for RSS One, demand for the
    AFP  -  257 words
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    Lock icon Arbitration may be done in Hongkong
    173 10 AFP HONGKONG, Sun. Hongkong's cotton futures market Intends to set up Its own arbitration board to remove the present necessity of referring disputes to experts in Liverpool. Disputes normally Involve quality and length of fibre, subjects on which there are experts In Hongkong. Therefore,
    AFP  -  173 words
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    Lock icon Gold futures margin
    71 10 Reuter WINNIPEG, Sun. The Winnipeg Commodity Exchange said it has reduced margin requirements for trading in gold futures contracts. effective immediately. The reductions affect requirements for all types of trades for both the 400- ounce standard contract and the 100-ounce centum contracts. For the 400-ounce standard contract,
    Reuter  -  71 words
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      26 10 If business you wish to transact With diplomacy, reason and tact, Fosters is the venue For a fine interview Over dinner, a drink or a snack.
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      165 10 now— who'd want a dehumidifier? > Quite a lot of people apparently but first let's tell you what a GE Dehumidifier is and how it works. It measures about 52 cm high and weighs about 24 kg. A fan draws in warm, humid air over a refrigerated coil. As the
      165 words