The Business Times, 28 July 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    9 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, JULY 28, 1977 50CENTS
    9 words
  • NEWS IN BRIEF
    • Article
      Lock icon UK cuts dollar links
      59 1 AFP LONDON, Wed. The British Treasury today In a surprise move announced a temporary suspension of the unofficial link between sterling and the US dollar. The news of the sudden shift In British monetary policy followed a sharp midday rise In sterling's dollar rate, Indicating that
      AFP  -  59 words
    • Article
      Lord Mayor coming
      71 1 LONDON, Wed. The Lord Mayor of London, Sir Robin Olllett, will arrive in Singapore on Saturday for a five-day official and goodwill tour during which he will meet industrialists, bankers and members of the British business community. The Republic will be the first leg qf Sir Robin's
      71 words
    • Article
      Lock icon Kenya coffee suffers
      71 1 Reuter NAIROBI, Wed. Falling world prices for coffee have hit the export trade in Kenya. The Coffee Board here, which normally sells almost all its stocks without difficulty, could auction off only half of them, dealers said. Market sources said bids at yesterday's auction were sharply lower
      Reuter  -  71 words
    • Article
      Lock icon High mishap rate
      54 1 AFP HONGKONG, Wed. Hongkong probably has the highest rate of industrial accidents In the world, but It loses fewer working days through strikes. According to official statistics, Hongkong lost only 5,000 working days because of labour unrest a very low figure considering the size of its workforce
      AFP  -  54 words
    • Article
      Manufacturing licences
      45 1 KUALA LUMPUR, Wed. About 4,000 Industrial establishments will have to obtain manufacturing licences under the Industrial Coordination Act, Trade and Industry Minister Datuk Hamzah Abu Samah said today. Until the end of last month, 1,300 applications had been received from Industries, he said.
      45 words
    • Article
      Lock icon Sumitomo bonds
      75 1 Reuter TOKYO, Wed. Sumitomo Electric Industries' US$2O million (Ss49 million) convertible bond Issue to be floated on the Eurobond and Asian dollar bond markets 1s likely to carry a coupon of around six per cent and a term of 15 years, Dalwa Securities said as lead manager. Detailed
      Reuter  -  75 words
    • Article
      Lock icon Dow Jones
      83 1 UPI NEW YORK, Wed. Stocks w£re lower early today in fairly active trading following the government's report of a record US$2.B2 billion (556.82 billion) June merchandise trade deficit. As a result, the Dow Jones Industrial average, which lost more than 15 points in the previous two sessions, was
      UPI  -  83 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      169 1 MOST shares drilled lower in quiet trading on the Stock Exchange of Singapore yesterday. Losses outnumbered gains two to one on balance. However, selected gainers lifted the Business Times index by 1.46 points to 384.74 while the Straits Times Industrial index slipped 0.31 point to 263.06. Rises
      169 words
    • Article
      In Kuala Lumpur
      107 1 Falls Most active T'nnii n*v 0.97 •■06 Inchcape 460,000 UilU LTV Mi Banking 3.54 1.61 -.06 -.05 Bandar Ray a 214,000 B.Kawat M'sla Weaving 181,000 2 20 05 Haw Par 180 non Pac. Dev. 2M -!05 Total Turnover: 2.82 M P. Bank 2.74 -.05 Total Value: $5.15
      107 words
  • Article
    Garment industry hangs by thread
    895 1  -  EEC THREAT OF DRASTIC CUTS By ONG LECK KEONG SINGAPORE'S garment and textile Industry could be heading for a slump and thousands of Jobs could be lost, If the European Economic Community succeeds In cutting down imports of such goods from the Republic. This gloomy
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  • Article
    Lock icon Hongkong voices its concern
    210 1 Reuter HONGKONG, Wed. Business leaders gave a cautious welcome today to Hongkong's latest half yearly trade figures which showed a rise of almost seven per cent In exports. But they expressed concern for the textile Industry, backbone of Hongkong's exportoriented economy, and also doubt over Europe's
    Reuter  -  210 words
  • Article
    SES not involved in move to sell stake in Wearnes
    705 1 THE Stock Exchange of Singapore (SES) yesterday alerted the Investing public to the fact that It Is not Involved In the proposed offer by Western Overseas Ltd. to sell Its 14.1 per cent stake In Wearne Brothers Ltd. "This Is
    705 words
  • Article
    NO DIFFICULTY IN TRAINING STORE WORKERS
    536 1 CONTRARY to reports Japanese firms in Singapore say they have no difficulty in training local personnel or in subsequently promoting them. Singapore workers, they say, have been sent regularly to Japan for training and have risen to supervisory and executive positions. Workers cannot be
    536 words
  • Article
    Central bankers to ratify Asean swap scheme
    311 1 CENTRAL bankers and managing directors from the five Asean countries will meet in Kuala Lumpur on Aug 2 to ratify a swap arrangement designed to alleviate short-term liquidity problems faced by member states. Under the agreement, the borrowing country can get up to
    311 words
  • Article
    Lock icon Malaysian economy puts up fair performance
    453 1 AFP KUALA LUMPUR, Wed. The overall performance of the Malaysian economy was Knerally satisfactory In the ■st quarter of the year compared with the previous quarter, although performance of Individual economic sectors was mixed. Bank Negara Malaysia said In Its quarterly economic report, that
    AFP  -  453 words
  • Article
    Lock icon Accord on need for new freight formula
    116 1 Reuter MANILA, Wed. The Far Eastern Freight Conference (FEFC) and its associated shipping conferences have agreed with the Federation of Association of South-east Asian Nations Shippers' Councils (FASC) to develop a new formula to determine general freight rate increases, FASC officials said. In
    Reuter  -  116 words
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      Page 1 Advertisements Column 1
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      311 1 mtk» WHISKY 100% SCOTCH WHISKIES Mended and bottled io Scotland under Government Supervision Imported by Cold Storage Which bank cut the world down to size, just for you? We (lid. Bank ot America. I hroutill our new World H.tfik tn<j 1 K ision. wo"\c div ided up I lie world
      311 words
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  • OVERSEAS
    • Article, Illustration
      Lock icon Race against time for energy sources
      756 2 UPI BRUSSELS. Wed. Common Market energy chief Ouldo Brunner has a thankless and uphill task In convincing politicians of the seriousness of the energy crisis. Mr. Brunner said "It will be difficult, very difficult" for the nine-nation Common Market to win a race against
      UPI  -  756 words
    • Article
      Lock icon Soviets export more oil and products
      365 2 Reuter AFP MOSCOW, Wed. The Soviet Union, the world's biggest oil producer, exEorted over 148 million >nnes of oil and petroleum products last year 18 million tonnes more than In 1975, according to official figures out yesterday. The annual foreign trade bulletin showed that
      Reuter; AFP  -  365 words
    • Article
      Lock icon Firm cannot shed light on blackout
      199 2 Reuter NEW YORK, Wed. The company which supplies New York City's electricity said yesterday It still could not explain why It took up to 25 hours to restore power in the city after the giant blackout earlier this month. In its preliminary report on
      Reuter  -  199 words
    • Article
      Lock icon PETROLSAVING TYRES
      94 2 Reuter DETROIT, Wed. Goodyear Tyre and Rubber Co said It demonstrated here a new car tyre It says will improve petrol mileage by three to six per cent. The tests, certified by the US car club, showed the new tyre Increased petrol mileage three to four per cent
      Reuter  -  94 words
    • Article
      Lock icon Talks on threat to quit ILO
      179 2 AFP GENEVA, Wed. William Maynes, United States Assistant Secretary for International Organisation Affairs, flew In here yesterday for talks on America's threat to withdraw from the International Labour Organisation (ILO). Mr. Maynes will discuss the question with representatives of the Common Market and other
      AFP  -  179 words
    • Article
      Lock icon 'Let's team up to protect coffee prices'
      239 2 Reuter BOGOTA, Wed. Colombian Exporters Association president Qllberto Aran go Londono said here yesterday that coffee-producing nations should get together to discuss moves to defend world coffee prices. "If the fall In prices has resulted from deliberate concerted action by major consumers and
      Reuter  -  239 words
    • Article
      Lock icon Sugar talks to reopen in Sept in Geneva
      374 2 Reuter LONDON, Wed. The United Nations Sugar Conference, grouping producing and consuming countries, will almost certainly reconvene in Oeneva In September. Leading group members have been meeting here to try to find common ground for a new session of the conference which
      Reuter  -  374 words
    • Article
      Lock icon Little time left to change Clean Air Act
      497 2 NYT WASHINGTON, Wed. President Carter has urged Congress yesterday to change the Clean Air Act before going on vacation next month to avoid a possible shutdown of car assembly lines and consequent damage to the economy. The Speaker of the House, Mr.
      NYT  -  497 words
    • Article
      Lock icon MOVE TO PREVENT EXCESS PROFITS
      96 2 Reuter WASHINOTON. Wed President Carter issued a strong endorsement of legislation designed to prevent major defence and other government contractors from reaping excess profits. The President, in a letter to every member of the House, said, "I believe that the Integrity of federal defence contracting
      Reuter  -  96 words
    • Article
      Lock icon Commons defeats move to expel MP Maudling
      239 2 Reuter LONDON, Wad. Britain's House of Commons last night overwhelmingly defeated a move to expel former Conservative Home Secretary Reginald Maudling for misconduct. Hie vote by 331 votes to 11, followed a six-hour debate on a parliamentary committee's criticisms of the actions of
      Reuter  -  239 words
    • Article
      Lock icon Domestic product index up
      73 2 Reuter OTTAWA, Wed. Canada's seasonally adjusted index of real domestic product rose 0.3 per cent In May, Statistics Canada said. The Index was at 127.2 in May compared with 126.8 the previous month and 123.2 a year ago (base year 1971 equals 100). The April figure
      Reuter  -  73 words
    • Article
      Lock icon Redemption of securities
      56 2 Reuter WASHINGTON, Wed. The Treasury Department said it will pay down the national debt by US$B million (5519.4 million) at the weekly bill auction on Monday. Treasury said it will sell $2.4 billion worth of threemonth bills and $3.6 blUlon worth of six-month bills to redeem the
      Reuter  -  56 words
    • Article
      Lock icon Formal bid by Spain to join the EEC
      367 2 Reuter BRUSSELS, Wed. Spanish Foreign Minister Marcellno Ore J a Agulrre meets EEC Commission President Mr. Roy Jenkins today to prepare for the presentation of Spain's formal application to Join the Community. Mr. Oreja, who arrived here yesterday, will hand over Spain's
      Reuter  -  367 words
    • Article
      Lock icon Bolivia now turns to China
      212 2 AFP LONDON, Wed. Bolivia, discontented with the way the 1 International Tin Agreement is being carried out and the United States' attitude to It, is turning to China, another big producer of the metal, the London Metal Bulletin reported yesterday. Discussions between the two countries
      AFP  -  212 words
    • Article
      Lock icon More miners join strike in Peru
      153 2 Reuter LIMA, Wed. More miners in state-owned mining centres Joined an Indefinite strike, ignoring threats of mass dismissals and arrests, official sources reported. A spokesman for Centromln, the state mining corporation, said over 65 per cent of Its 13,000 workforce have downed tools on
      Reuter  -  153 words
    • Article
      Lock icon Carter paints bright picture of economy
      168 3 Reuter WASHINGTON, Wed. President Carter and his advisers gave an optimistic report on the economy when they conferred with congressional leaders at the White House. The House majority leader, Representative Wright of Texas quoted Council of Economic Advisers chairman Charles Schultse as saying the
      Reuter  -  168 words
    • Article
      Lock icon BURNS IS AGAINST FILLING THE PUBLIC IN
      137 3 Reuter WASHINGTON, Wed. Federal Reserve Board chairman Arthur Burns said he opposes requiring the central bank to make public more detail on its economic targets. In testimony before the House Banking Committee, he said more specific targets would be inimical to the orderly
      Reuter  -  137 words
    • Article
      Lock icon Trade deficit doubles
      117 3 AP WASHINGTON, Wed. America's trade deficit more than doubled in June to a record US$2.B billion (886.7 billion), the 18th deficit in a row, the government reported today. The United States sold 810.1 billion in goods abroad, a decrease of shout three per cent, while buying 812.9
      AP  -  117 words
    • Article
      Lock icon Apel's date
      31 3 Reuter BONN, Wed. German Finance Minister Hans A pel will probably attend the Aug 6 IMF meeting In Paris on the Wltteveen facility, a finance ministry spokesman said. Reuter
      Reuter  -  31 words
    • Article
      Lock icon Lance forecasts inflation at 6pc next year
      446 3 Reuter WASHINGTON, Wed. Budget director Bert Lance said the US inflation rate will be In the neighbourhood of six per cent in 1978 but pointing downwards. In testimony for the Joint Congressional Economic Committee, he agreed with the recent testimony of Charles Schultse,
      Reuter  -  446 words
    • Article
      Lock icon Stock sale: Loss will be much smaller
      666 3 NYT WASHINGTON, Wed. Bert Lance, the director of the Office of Management and Budget, appears likely to be able to sell his stock In the National Bank of Georgia (NBG) at a loss of no more than U5575,000, (8)181,500) rather than the $1.6
      NYT  -  666 words
    • Article
      Lock icon House 'yes' to USD A as buying agent
      312 3 AP WASHINGTON, Wed. The House of Representatives voted yesterday to allow the Agriculture Department to act as a purchasing agent for a foreign country buying US crops under the food for peace programme. The move was seen as a response to the
      AP  -  312 words
    • Article
      Lock icon Good conduct code
      108 3 AFP BRUSSELS, Wed. The European Economic Community (EEC) Is now discussing a possible code of good conduct for EEC companies operating In South Africa, rather than any economic sanctions aimed at forcing South Africa to abandon apartheid. The possibility of sanctions had been raised after earlier talks
      AFP  -  108 words
    • Article
      Lock icon Anti-bank takeover
      72 3 AFP LONDON, Wed. Ninety point five per cent of newspaper readers who answered an advertising quls on nationalisation of banks voted against, the Association of British Banks said yesterday. Only 3.6 per cent of the 20,000 who replied to the questlonalre were In favour, the association said. The
      AFP  -  72 words
    • Article
      Lock icon FLOWER POWER HOLDS SWAY OVER GERMANS
      637 3 UPI HAMBURG, Wed. More West Germans than ever are saying It with flowers, letting about a thousand tonnes of fresh flowers speak for them each week. In many minds, Germany usually is associated with steel and discipline, wars and weapons. But the West Germans
      UPI  -  637 words
    • Article
      Lock icon US$ is expected to fall further
      174 3 Reuter LONDON, Wed. The US dollar may fall eren further on foreign exchange markeU, reflecting the action of natural market forces, U8 assistant secretary for commerce Frank Well said. "The natural market mechanism will work Its will and I am not sure It has
      Reuter  -  174 words
    • Article
      Lock icon Norwegian bank buys back dollars
      126 3 Reuter OSLO, Wed. The Norwegian Central Bank has during the last two days bought back some of the US$9O million (***** million) it sold on Friday to support the Norwegian crown, a bank spokesman Speculation of an imminent devaluation of the Swedish crown, with repercussions
      Reuter  -  126 words
    • Article
      Lock icon Proceeds from gold auction go to 24
      273 3 AP WASHINGTON, Wed. Proceeds amounting te approximately US$l42 million (*****.6 million) from the last six geM auction* hold by the In tornational Monetary Fond wore distributed to 24 nrabars eligible for treat fund loons, It ores announced yesterday. The first iaterim lean ilshmmats
      AP  -  273 words
    • Article
      Lock icon OECF tour
      28 3 AFP NAIROBI, Wed. The chairman of Japan's Overseas Economic Cooperation Tund, Dr. Keneo Ishlhara, arrived here yesterday for a five-day tour of Japanese-financed protects throughout Kenya.
      AFP  -  28 words
    • Article
      Lock icon Options exchange seeks members
      400 3 Reuter AMSTERDAM, Wed. The European Options Exchange said It Is Inviting applications from potential members of the exchange which Is due to begin trading between 10 and 15 options In the first quarter of next year. Details of the market's structure, membership, scale of commissions and
      Reuter  -  400 words
    • Article
      Lock icon British prices should be declining soon
      409 3 Reuter LONDON, Wed. Britain's year-on-year inflation rate, which rose again last month to 17.7 per cent, should soon start to decline, according to the latest quarterly report of the Prices Commission. The commission, which monitors prices and requests from firms to increase them, said
      Reuter  -  409 words
    • Article
      Lock icon EEC lifts duty on bearings
      155 3 AFP BRUSSELS, Wed. The Council of Foreign Ministers of the European Economic Community (EEC) decided here today to lift the 15 per cent antl-dumping duty on Japanese ball bearings. This was done on the understanding that the Japanese producers would raise their prices In the
      AFP  -  155 words
    • Article
      Lock icon C-MART WILL STRIKE BACK, U.S. WARNED
      270 3 Reuter BRUSSELS, Wed. The EEC warned the US It would retaliate If the Americans take action against steel Imports from the EEC, community officials said. The warning Is contained In a statement adopted at a meeting here of EEC foreign ministers. But the threat
      Reuter  -  270 words
    • Article
      Lock icon Hongkong office
      39 3 AFP HONGKONG, Wed Hongkong's trade development council Is opening an office in Dallas, Texas, on Sept 20, It was learned today. It will be the 17th overseas office established by the council to promote Hongkong's exports. AFP
      AFP  -  39 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      202 2 Give usa man fora monthwell give him a language for life ■Wg(JB now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in a
      202 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      314 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on July 27 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month SINGAPORE 5 3.00 PM Opening announcements followed by
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      106 3 This Sign Means Business See what New Zealand is offering at NEW ZEALAND INDUSTRIES TRADE EXHIBITION SHANGRI-LA HOTEL, SINGAPORE Ist to 6th AUGUST Open daily from 9.30 am 1.30 pm, 4pm— 7 pm Building supplies of all kinds Mechanical and electrical machinery Appliances Clothing Furniture Boats For further information contact
      106 words
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  • COMPANY NEWS
    • Article
      Ben's woes are far from over
      1016 4 AFTER two very bad years, Ben's problems are far from over. "Your directors do not expect that the current year will be an easy one for the group," says its new chairman, Mr. John O. Ollmour in its 1970/77 annual report. "Nevertheless, with the
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    • Article
      Long Term Credit issue listed
      67 4 THE Long Term Credit Bank of Japan Finance's US$4O million guaranteed floating rate notes due 1982 will be officially listed and quoted on the Stock Exchange of Singapore this morning. An SES statement yesterday said dealings will be on a ready basis only and the
      67 words
    • Article
      Amoy Canning
      53 4 A MO Y CANNING (Singapore) is not a whollyowned subsidiary of Amoy Canning Corporation (Hongkong) as reported In Business Times on July 25. The error is regretted. According to Sime Darby which has a 62.7 per cent stake in Amoy Canning (HK), there is no relationship whatsoever between
      53 words
    • Article
      Creditable results likely at Dunlop
      267 4 DUNLOP MALAYSIAN Industries is expected to announce creditable results for the first half-year ended June 30, 1977 at the end of this month. In his last annual report, managing director Tunku Da to Ahmad Yahaya says the company is well poised for growth and expansion
      267 words
    • Article
      Goodyear M'sia lands M$ 1/2m export order
      180 4 KUALA LUMPUR, Wed.— Goodyear Malaysia has secured two export orders worth more than M 5500.000 for the supply of Malay-slan-made passenger car and light truck tyres and tubes to Sri Lanka and Uganda. The orders, comprising 3,000 pieces 0800 Grand Rally passenger car
      180 words
    • Article
      PEOPLE IN BUSINESS
      134 4 MR. JOHN L. COWX, general sales and reservations manager for Cunard arrives In Singapore today on the last leg of a fourweek visit to the Par East and the Pacific. He will be meeting local travel agents and holding discussions with Mansfield Travel, general sales agents for
      134 words
    • COMPANY MEETINGS
    • Latest result
      • Article
        CITY DEVELOPMENTS
        36 4 Unaudited group pre-tax loss $687,000 (profit $1.02 million) on sales $5.59 million ($6.77 million) for the first half-year ended April 30, 1977. Company pre-tax loss $467,000 (profit $741,000) on sales $1.65 million ($1.59 million).
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    • Article
      DIVIDENDS ANNOUNCED
      217 4 Current Ex Date Total for Total for payment Date payable tbe year previous year Pegi Malaysia 20* July 5 July 28 20* 20* Public Bank 6.5* June 24 July 28 6.5* 6* FtimtANNV* 12* July 7 July 29 18* 17.1*a Berjuntai 60* July 1 July 29 110*a 50*&
      217 words
    • Article
      Lock icon Few know the answer
      1159 4  -  WHY ARE YOU INVESTING? By H.J. MAIDENBERG NYT THE second question competent investment counselors ask a new client is usually, why are you investing? The first question, obviously, is, how much do you have to invest? Odd as it may seem, few Investors can answer the
      NYT  -  1,159 words
    • Article
      CHICAGO BOARD OPTIONS
      1282 4 On July 26 TRADING on the Chicago Board Options Exchange on Tuesday, came to 80,212 contracts compared with 77,477 contracts on Monday. OPTION OCT JAN APL STOCK Alcoa Alcoa Am Exp Am Exp Am Tel Am Tel Am Tel AUR AUR Avon Avon Bank Am Bank Am
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    • Article
      Lock icon Tanavir credit confirmed
      89 4 Reuter PARIS, Wed. Credit Lyonnais confirmed local press reports the Iranian national electricity company Tanavir will receive an 800 million franc five-year buyer credit from a group of French banks led by Credit Lyonnais. Banking sources said the companv will get a further 200 million franc credit
      Reuter  -  89 words
    • Article
      Lock icon Cutbacks at Chuo Keori
      83 4 UPI TOKYO, Wed. Chuo Keori, a medium-sized woollen textile maker In Nagoya, said it will enforce a 50-per cent production cutback from mid-August to the end of this year to tide over the business slump. Mr. Masamichl Kono, president of the company, said 500 employees on
      UPI  -  83 words
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      143 4 1. Ml IKE PROFESSIONAL! OKI OF CMTIOL 7 Tinker, tailor, soldier, sailor, rich man Doctors, architects, engineers and professors too NEW DIRECTIONS puts them all under the microscope. WOUII VIII' now ISIIN (ROM I TZI7 NEW DIRECTIONS takes an illuminating look at the intricacies of translating Chinese poetry and makes
      143 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Phillips enjoys higher second quarter profit
      319 5 NORTH AMERICAN COMPANIES Reuter PHILLIPS PETROLEUM reported a 40 per cent Jump In second quarter earnings, which It said reflected higher crude oil and natural gas prices, higher foreign oil production and better profit margins for refined products. The company said its second quarter
      Reuter  -  319 words
    • Article
      Lock icon GULF IMPROVES
      173 5 Reuter GULF OIL said Its North American operations accounted for all of Its second quarter earnings growth and for 86 per cent of Its overall earnings. Net second quarter profit was US$2l6 million or $1.11 a share, up four per cent from the year-ago period's $208 million or
      Reuter  -  173 words
    • Article
      Lock icon US Steel tumbles on soft demand
      271 5 Reuter US STEEL, the nation's largest steelmaker, suffered a sharp drop In second quarter profit which it blamed on soft demand for capital goods. Net earnings In the second quarter this year totalled U5576.3 million or 91 cents a share, off 57 per cent
      Reuter  -  271 words
    • Article
      Lock icon REVLON BUOYANT
      149 5 Reuter REVLON achieved record earnings for the second quarter this year on the strength of strong sales for its cosmetic and health products. Revlon's second quarter profit totalled U5525.3 million or 83 cents a share (80 cents diluted), up 19 per cent from the year-ago period's $21.2 million
      Reuter  -  149 words
    • Article
      Lock icon Earnings rise at Shell
      186 5 Reuter SHELL OIL said It made higher earnings In the second quarter this year from Improved chemical products results and higher natural gas revenues, while oil products performance was flat. Chemical products revenues were up six per cent in the quarter due to both higher prices
      Reuter  -  186 words
    • Article
      Lock icon Imperial Oil first half revenue up
      187 5 Reuter EXXON'S Canadian subsidiary Imperial Oil said an increase in first half revenue by U***** million to $2.4 billion was due mainly to higher prices for crude and products. The effect on earnings of higher prices received for crude oil and natural gas was
      Reuter  -  187 words
    • Article
      Lock icon TI gets record orders
      127 5 Reuter TEXAS INSTRUMENTS said backlog at the end of the second quarter rose US$72 million to a record $809 million from the backlog at the end of the first quarter, and was up $163 million from the June 10, 1976, level. In the second quarter this
      Reuter  -  127 words
    • Article
      B-1 bomber impact on Rockwell Int
      192 5 ROCKWELL INTERNATIONAL said the B-l bomber programme, Including production efforts, contributed about six per cent of the company's earnings in the first nine months ended June 30. The company said It made provisions for non-re-coverable costs associated with the cancellation of the B-l production
      192 words
    • Article
      Lock icon HOTEL TAIL WAGGING THE AIRLINE DOG
      651 5 NYT SHOULD THE AIRLINES offer hotel accommodation so that passengers will have a place to stay upon arrival at a distant city? Several airlines think so, but several others believe they can better serve the traveller by concentrating on flying. In a 46-page report,
      NYT  -  651 words
    • Article
      Power failure will affect Con Ed
      247 5 CONSOLIDATED EDISON of New York said the power failure of July 13-14 will have some adverse affect on second half operating results. The company said It will bear revenue losses during the blackout, cost of service restoration and repairs, Including overtime costs. Con Ed
      247 words
    • Article
      Upturn at United Brands
      146 5 UNITED BRANDS reported higher second quarter earnings, thanks to a strong performance by its United Fruit group. United Brands said its second quarter profit totalled US$ll.l million or 94 cents a share, up 13 per cent from the year-ago period's $9.8 million or 83 cents a
      146 words
    • Article
      Lock icon Chemical NY offering
      105 5 Reuter CHEMICAL NEW YORK Corp, parent holding company of Chemical Bank, said it filed registration statements with the U8 Securities and Exchange Commission for offerings of four million shares of $25 convertible preferred stock and $100 million debentures due 2002. In a statement released In Brussels and
      Reuter  -  105 words
    • Article
      Lock icon Tobacco sales boost for Bat
      276 5 UK COMPANIES Reuter BAT INDUSTRIES achieved a 15 per cent increase In earnings on a 10 per cent rise In turnover for the first half-year ended March 31. 1977. Pre-tax profit for tne half-year jumped to £217 million from £188 million previously while turnover rose
      Reuter  -  276 words
    • Article
      Lock icon Turner & Newall new unit
      102 5 Turner Newall new unit Reuter TURNER AND NEWALL said it formed an alternative materials and fibres unit to accelerate development of substitutes for asbestos and asbestos-based products. The new unit will reinforce work on development of asbestos substitutes which Turner and Newall subsidiaries have been working on for some years.
      Reuter  -  102 words
    • Article
      Lock icon Eurobond issues new peak in August
      168 5 EUROPEAN COMPANIES Reuter FRANKFURT, Wed. A total 800 million marks of new mark Eurobond Issues are planned for August slightly more than the 735 million marks, Including private placements, which have come to market so far this month, bond market sources said. The August
      Reuter  -  168 words
    • Article
      Lock icon AQUITAINE OIL SEARCH NEXT YEAR
      103 5 Reuter PARIS, Wed. Ste Natlonale Elf Aqultalne said It will resume oil exploration in the Mer D'lrolse at the western approaches to the English Channel In 1978 as It Is too late to resume operations this year. Exploration has been held up pending settlement by
      Reuter  -  103 words
    • Article
      Lock icon CIBA-GEIGY
      50 5 Reuter BASLE, Wed— Clba Geigy AG said group sales in the first half of 1977 rose six per cent to 5.66 billion francs from 5.34 billion in the same year-ago period. The company said it hopes earnings for the whole of this year will be above last year's level.
      Reuter  -  50 words
    • Article
      Amsterdam-Rotterdam hopeful
      88 5 AmsterdamRotterdam hopeful AMSTERDAM, Wed. Amsterdam Rotterdam Bank said It expects profit per share to increase in 1977 from 10.17 guilders last year even allowing for the one-for-10 share issue in March. The financial result for the first six months Is expected to be slightly lower than the particularly good first
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    • Article
      Lock icon Merger talks today
      92 5 Reuter MUNICH, Wed. A Messerschmltt BoeklowBlohm spokesman said talks will be held In Bonn tomorrow with Secretary of State at the Economics Ministry, Mr. Martin Gruener about the possibility of a merger between MBB and the DutchGerman concern VFWFokker. However, VFW-Fokker representatives have not been invited to
      Reuter  -  92 words
    • Article
      Lock icon ESSO DRILLING
      101 5 Reuter PARIS, Wed. Esso Rep Sa will make smother exploratory drilling for hydrocarbons in the Landes Atlantlque permit area 27 km off the west coast of France, the company said in Its latest bulletin. Esso Rep has a 55 per cent stake In the permit and. as operator,
      Reuter  -  101 words
    • Article
      Lock icon Indonesian order for 3 firms
      120 5 Reuter DUISBURG, Wed. Kloeckner Und Co subsidiary Kloeckner Industrie-Anlagen together with Ed Zueblln and Salzgitter has won a further 68 million mark order in connection with Its harbour construction project in Indonesia, the company said in a statement. The order from P.T. Krakatau Steel. Djakarta,
      Reuter  -  120 words
    • Article
      Lock icon Kajima sees 19pc fall
      149 5 ASIAN COMPANIES Reuter TOKYO, Wed. Kajima said It expects a 10 per cent after-tax profit fall In the current year ending Nov 30, 1977 to 12.5 billion yen from 15.37 billion yen last year. Sales will also fall slightly to 530 billion from 560.92 billion last
      Reuter  -  149 words
    • Article
      Lock icon HONDA
      59 5 Reuter NEW YORK, Wed. A syndicate headed by Merrill Lynch, Pierce, Fenner and Smith is offering 3.1 million American depository receipts of Honda Motor at a price of $21 7/$ per ADR. Each ADR represents 10 shares of Honda common stock. The selling concession has been set at 70
      Reuter  -  59 words
    • Article
      Lock icon HSBC interim dividend
      118 5 Reuter HONOKONO, Wed. Hongkong and Shanghai Banking Corp. declared an Interim dividend of 18 HK cents (16) for the current J ear on Its capital increased y a one-for-10 scrip issue. The company said it expects to declare a final dividend of at least 44 cents, unchanged
      Reuter  -  118 words
    • Article
      MITSUI MINING
      60 5 TOKYO. Wed. Mitsui Mining and Smelting said it is having talks with the Peruvian Government and seven other Japanese smelters in Lima on revising plans to develop the Mlchiqulllay copper mines. The plan called for deliveries to Japan to begin in 1983, and for the development of copper
      60 words
    • Article
      Lock icon BANK OF EAST ASIA PAYMENT
      126 5 AFP HONGKONG, Wed. The Bank of East Asia an- i nounced an Interim divl- i dend of HK$l.5O a share for < the current year ending Dec 31, 1977. The dividend, unchanged from last year, will be payable to the holders of the bank's 1.88
      AFP  -  126 words
    • Article
      Lock icon HIPL acceptances
      66 5 Reuter HONGKONG, Wed. Hutchison International said its wholly owned subsidiary Hutchison International Pty Ltd (HIPL) received acceptances well in excess of the 840,770 Asl shares in Swift and Co which it is entitled to acquire. Upon registration, HIPL will hold more than 50 per cent of Swift's $7
      Reuter  -  66 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      32 5 Kumpulan Fima Berhad has acquired 30% of the issued share capital of Supermarkets Malaysia Berhad from Cold Storage Holdings Limited The parties were advised by Bumiputra Merchant Bankers Berhad July 27, 1977
      32 words
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      Page 5 Advertisements Column 2
      35 5 M 57,500,000 Term Loan to Kumpulan Fima Berhad for the acquisition of 30% of the issued share capital of Supermarkets Malaysia Berhad managed, by Bumifiutra Merchant Bankers Berhad funds provided by Bank Bumiftutra Malaysia Berhad
      35 words
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  • Article
    Share Information Service
    2216 6 If High IT Lmm 0_ LMt Sale +W Vs *r Dfcr •Vrr Vi f Nat P/B Vri (*988) SECTION ONE INDUSTRIALS 154 204 M 230 101 198* 169 223 396 171 136 172 212 57 156 152 182 350 145 Acma A1 com Allied Choc B&U Ben
    2,216 words
  • Article
    Transactions in Singapore
    1193 6 HD and otter pncM officially listed ud liimiM in ind reported to ttw Stock Exchange of jeaver day with the number of iharee traded ibown to brackets In lota or 1000 units unlaw otherwise *>ecfflod All Tim Settlement Contract* are quoted after the word "Salt." Hf Board
    1,193 words
  • Article
    In Kuala Lumpur
    1497 6 BID and offer price* officially hated and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets in IoU of 1,000 units unless otherwise specified. INDUSTRIALS AJinameta il 938 2.058). A. Cites (0.828). A.M.O. <0-648). A.R.I. (0MB)
    1,497 words
  • Article
    Stock options
    41 6 BTUKING price* ot the Mock iilio»i officially listed oa the Stock Eschaac* or Sine*port. the psHsds. Udaadarikr prices ui bmlriw 4m* yeewrdey, with the number of options traded ■hew a in brackets Inchcape (Sept $2.40) (0.14B). (Dec $2.40) (0.18B).
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  • Article
    Unit trusts
    144 6 SINGAPORE UNIT TRUST price* for Jaly 2> INCOME BOND UNIT (Cumat prims) The Commerce 1.71 1.81 The Saving Fund 0.97 1.02 S pore Pro* Fund 0 84 0 89 S'pore Security Fund 1.87 1 66 S pore Invest Fund 1.02 l.OBxd ASIAN UNIT TRUST iMuim' prima for July
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  • Article
    CORPORATE BONDS
    161 6 B O T 8 1/2% 1981 (100,000) (103%8 IQ3HS) B O T 7 8/8% 1984 (100,000) (998 99 %8) Credit Lyonnais Floating 1983 (100,000) (98SB 99%5) DBS Converts S 1/2% 1911 (100,000) (98%8 98V.S) D B S 8 1/2% 1982 (100,000) (101 %B 102 %8) EIB 9% 1982
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  • Article
    GOVERNMENT BONDS
    114 6 Rep Spore D Mark 7% IMS (100.000) (100*B 101 *8) Rep Spore C 1/2% 1»83 (100,000) (99W8 1008) Rep Spore 7 3/4% I*B7 (100.000) (100*B 101*8) 5 1/4% 15/7/78 (250,000) (101.575) (2) 101.50 4 3/4% 1/5/79 (250,000) (100.858 100.028) (2) 100.87 5 1/4% 15/10/7* (250,000) (101.MB 102.038) 5
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
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  • Article, Illustration
    SES MOVES LOWER
    633 7 MOST SHAKES drifted lower in quiet trading on the Stock Exchange of Singapore yesterday. There wai very little change in the pattern of trading as share* moved narrowly and generally headed lower in the absence of any fresh incentive. Sentiment appeared to improve slightly during the last
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  • Article
    MARGINAL LOSSES
    387 7 PRICES eased slightly In fairly active trading on the Kuala Lumpur stock market yesterday. Some slight support In the closing minutes helped to reduce the extent of losses lyFor the third consecutive day, prices eased on a wide front as sellers continued to make their presence felt. However,
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      369 7 HONGKONG: The market closed little changed in fairly quiet trading on Wednesday after a revival In buying interest boosted prices from mldmornlns lows, dealers said. Continued selling following the weakness of the London market depressed prices to seven month lows Initially, but a delayed reaction to Hsagksag Bank's higher
      369 words
    • Article
      Tokyo
      523 7 TOKYO: Prices turned lower after an early rise as liquidations In blue chips gathered momentum towards the close, dealers said on Wednesday. The Dow Jones Average lost 12.63 to close at 4,903.#4 with volume 180 million shares. The New index closed at 370.30, down 0.59. Export-oriented electrlcals, motors and
      523 words
    • Article
      Sydney
      402 7 SYDNEY: The market closed mainly easier In quiet trading with most activity In coals and BHP dealers said on Wednesday. The Sydney All-Ordinaries index lost 2.53 to close at 442.49. BHP fell 10 cents to $5.74 on turnover of 67,000 shares while Paacoatinsntal fell 40 cents to $10.10. Queensland
      402 words
    • Article
      Manila
      210 7 MANILA: The market was mixed in continued active trading on Wednesday although turnover fell to 9.90 million pesos from Tuesday's 11.25 million, with speculative Interest In oils tailing off after Tuesday's strong upsurge, dealers said. Following the CMh Service consortium's statement It was closing the South Nldo well pending
      210 words
    • Article
      Bangkok
      107 7 JULY 2T Bahts Asia Fibre 197 ♦a Bangkok Bank 343 unch Bangkok Invest 213 ♦8 Bangkok-Metro-politan Bank Bata 2630 860 +80 ♦30 Bern Jucker 374 -2 Charoonc Thai Wire 177 -4 Dumex DusttThani 226 ♦3 Faber Merlin First Trust Indo-Thal 1818 Industrial Finance Corp 1235 10 J And J
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    • Article
      Amsterdam
      301 7 AMSTERDAM: The market fell following the decline on Wall Street and the continuing weakness of the dollar, dealers said on Tuesday. Royal Dutch led Dutch Internationals 1.50 guilders lower. Trading and industrial stocks were easier while insurances were mixed. Shippings were very steady although KUi fell 2.10 ahead of
      301 words
    • Article
      Brussels
      154 7 BRUSSELS: Share prices closed lower In quiet trading, bourse sources said on Tuesday. Wagons Llts rose but Aaturieane, Cocker! 11, Clebecq and CBR fell while Seclete Generate was unchanged despite Its forecast of higher 1977 profits. In foreign stocks UK and Oerman were steady, Dutch and US down and
      154 words
    • Article
      Frankfurt
      328 7 rRANKFURT: Shares closed mixed after nervous early trading, bourse sources said on Tuesday. In higher utilities. RWE Ords rose 2.30 marks while In engineerings, CMH lost 2.50 but Thysssn Industrie rose 3.50 marks. Deutsche Bank eased 1.30 in arks. Basf and Bayer, In chemlclas, both eased 0.80 marks but
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    • Article
      Milan
      157 7 MILAN: Stocks firmed slightly in thin deallnp, with Plat, In and both Pirellis leading major Industrials higher, dealers said on Tuesday. Anic fell slightly following reports of losses in the first five months of this year. General* Inunobiliar* also weakened. Unidal closed unchanged after Tuesday's sharp fall following reports
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    • Article
      Paris
      352 7 PARIS: The market was mixed on Tuesday ahead of the Prench Prime Minister's television broadcast scheduled later In the day. dealers said. Otis gained following settlement of the Pranco-Brltlah dispute over allocation of exploration rights In the Mer D'lrolse Chemicals and autos were firmer, but foods, engineerings and metals
      352 words
    • Article
      Zurich
      268 7 ZURICH: The stock market closed narrowly mixed on Tuesday with an easier bias In quiet settlement day dealings, with buying interest dampened by the weakness of Wall Street, dealers said. Both Swissair stocks eased on proflttaklng after recent strength. Leading banks and insurances fluctuated slightly. In flnancials, Bally bearer
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    • Article
      Jo'burg
      357 7 JOHANNESBURG: Oold shares were steady though trading was hesUant, dealers said on Tuesday. Financial mining were quiet and easier where traded. De Dear a firmed seven cents on UK buying interest to 477. Coppers tended easier, and platinums were unchanged. Coal shares were mostly unchanged to sometimes firmer. Asbestos
      357 words
    • Article
      Toronto
      301 7 TORONTO: Share prices closed sharply lower In light trading on Tuesday. The composite Index was off more than 0 points and declines outpaced advances 260 to 148. Among companies reporting earnings Canadian Cabl* lyitemi shed Vfc to 13, Goodyear Canada added S to 14H, Consolidated Building Car* gave up
      301 words
    • Article
      New York
      1172 7 NEW YORK: A steep drop In U8 Steel Corp'a profits led the stock market Into Its second broad decline In active trading on Tuesday, but some bargain hunting reduced the loes In the final hour. Analysts said US Steel's second quarter earnings of 91 cents a share compared
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    • Article
      Indices
      61 7 FINANCIAL TIMES INDUSTRIALS Tuesday 430.1 Monday 437.2 Week Ago 446.3 DOW JONES AVERAGE INDUSTRIALS Tuesday 006.18 Monday 914.24 Week Ago 919.27 LONDON DOLLAR PREMIUM Tuesday 114 to 114H Monday Ill* to 112* H.K. HANG SENG Tuesday 414.68 Monday 416.47 Week Ago 422.76 ALL ORDINARIE8 Tuesday 445.01 Monday 446.71 Week
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      Page 7 Advertisements Column 1
      437 7 BUSINESS TIMES Airline Directory Arroflot SovMt AiHirm 110*112 Shaw Contro, Orchard Road, Siw|«pow 9 (Tel: 377.111) Air Ceylon 302-i, 3rd Floor, Morino Houm Shonton Way, Singapore (1) (Tal: ******0) Air Franca ft A Cl*., ira <fc«nH»n Wm WWIM iw wirainVf •nwnfwfi Sinaapor* 1 (Tel: *****11) Air India 1 f lIIC
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      401 8 ON the Singapore rubber market yesterday values opened fractionally lower after lower overseas advices and then firmed to overnight levels in quiet trading before easing again to opening levels, dealers said. Turnover was smaU. Prices fluctuated narrlowly before closing slightly easier with August RSS One
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    • Article
      Closing prices
      26 8 Rubber: July 27 Sines nore: August 192.75 cents August 194.00 cents (up 0.25 cent) Tin: 51,(15 (unchanged) Official offering: 220 tonnes (up 19 tonnes)
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    • Article
      R.A.S. PRICES
      295 8 Prices tn cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt t.o.b. 191.00 192.00N Int. 1 R.S.S. Aufust 192.50 192.75 Int. 1 R.S.S. September 193.75 194.00 Int. 2 R.S.S 190.25 191.2SN UK/Cont 199.25 190.25N Int. 3 R.S.S. 190.50 187.5m UK/Cont. 195.50 186.50N Int. 4R.S
      295 words
    • Article
      SSR AND SMR
      87 8 NOON SSR and SMR prices yesterday R.A.8. (Cam Buyer* [USt ■t MU> Salter* (Forward MU) SSR 20 SSR 90 <MU P*rkc> (cm »*rkC) (1-tonPallei) (I-ton Pallet) 190.90 1M.00 192.50N 190.00N 191.90 180.00 193.90N 181.00N M.B.E.L.B. SMR 5CV (1-ton Pallet) 213.90 219.50N 213.90 215.SON SMR SL (l-ton Pallet)
      87 words
    • Article
      Sugar
      256 8 LONDON, Wed. Terminal sugar gained £1.50 (December at £119.25 bid) to £2.90 at the opening call. But* trading was thin at 700 lots Including 401 kerbs. Both the London dally raws and whites prices were raised £1 to £112 and £119 Der tonne respectively. Bugar futures closed the morning
      256 words
    • Article
      Produce exchange
      468 8 TRADINQ conditions remained generally listless <» the Singapore produce nurket yesterday as dealers withdrew further into the background. Until the close, a wait-and-see attitude ruled. According to brokers, most dealers were waiting for a clearer lead from oveseas in view of the erratic price movements seen in these
      468 words
    • Article
      Hongkong comex
      253 8 HONGKONG, Wed. The cotton futures market closed slightly firmer In quiet trading, with gains ranging from 0.14 to 0.48 US cents, dealers said. Total turnover fell to 21 lots from yesterday's ®5. HONOKONO cotton future* closing prices R»»»|e»i Closing Closing Oct 90.06/00.23 58 00/60 50 Dec 57.85/56.00 97.60/90
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    • Article
      Palm oil
      55 8 C.I.F. Rotterdam. US doUan in it tea. LONDON: M*laysU5*ftat>ult. Tim day PNvtm Sept SlSalr S90«lr Sumatra 5H July Au« SlOpd 565N SlOpd Sept S2SN s»pd Oct 507W S29pd No* SlOpd SlOpd Nigerian 5* ffa bulk unq unq Sterling per lone ton ROTTERDAM: Sumatra Afloat ssopd ttfelr Zaire (Belg
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    • Article
      Duty rates
      62 8 THE Malaysian Minister of Finance has fixed the following rates for the period July 28 until further notice: Rubber: 87 cent* a lb Copra: 832 ton ton Palm Kernel: 235.28 a ton The rate* of dutiet payable are: Rubber 9H cent* a lb Total: 14% cent* Surcharge: 4H
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    • Article
      Straits tin market
      278 8 THE Strait* tin price In Penang yesterday was unchanged at 11,615 on an official offering up 19 tonnes to 220 tonnes. Steady conditions were encouraged by increased turnover and buying from the U8 and Japan, they said. in LONDON yesterday morning, tin declined by around £22 all
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    • Article
      Cocoa
      334 8 LONDON, Wed. Terminal cocoa was Irregularly held at the opening call and closed with losses from last night of £16 (December at £2577.50) to £35 per tonne. Dealers said the tone was uncertain although the overall easier trend could be attributed to Hershey Foods Corporation reducing the weight of
      334 words
    • Article
      Coffee
      387 8 LONDON, Wed. Qood buying Interest Initially extended yesterday's gains, dealers said. Prices ended the opening session officially steady £30 to £00 per tonne ud from yesterday afternoon's lose. 781 lots were traded of which around 430 were self traded. Dealers said the rise mainly reflected local dealers shortcoverlng rather
      387 words
    • Article
      Soybeans
      196 8 CHICAGO, Wed. Soybean futures yesterday opened steady and showed some Initial firmness before dropping to losses of 16 cents a bushel in the August and Oft to 9ft cents in new crop months. Soybean futures closed lower but above the day's lows, with the August 1 finishing well above
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    • Article
      Wheat
      90 8 CHICAGO, Wed. Wheat futures were little changed in thin early dealings yesterday. with prices fractionally higher to unchanged. The market continued to resist weaknesses displayed in other pits and selling pressure was light, despite lack of strength in soybeans. Professional buying Interest helped provide support. There were no wheat
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    • Article
      Gold
      345 8 THE Singapore gold market opened at St 11.513 and closed lower at 8811,451 as the market was sensing the firmness of the US dollar. In the loco London market, gold opened at U*****.00/20 and drifted lower to close at U*****.56/75 on an uncertain tone. Trading was cautious pending disclosure
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    • Article
      Rice
      178 8 BANGKOK, Wed. The following were Indicative prices quoted here yesterday. Today's prices were unavailable. White Rice: 100 per cent 1st claaa 300 100 per cent 2nd 200 100 per cent 3rd 3S0 9 per cent 277 10 per cent 293 19 per cent 290 20 per cent 247 29
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    • Article
      Lead
      79 8 LONDON, Wed. Lead In the morning lost mostly £8.50 for both cash and Three Months. The metal eased on long liquidation which dealers attributed to the general downtrend of base metals and small physical market Interest. The decline touched off stop-loss orders at around £325 and Three Months ended
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    • Article
      Zinc
      66 8 LONDON, Wed. Zinc In the morning was mostly £5 down for cash and Three Months. Three Months traded from a pre-market high of £323 down to £318 on the kerb. Ring sales were 2,075 tonnes. On Tuesday, zinc closed £3 down for cash and £2 lower for Three Months
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    • Article
      Copper
      238 8 LONDON, Wed. Copper hi the morning closed £5 per tonne down all round for wlrebars with Three Months trading at £735.50 Carries accounted for the greater part of the ring turnover of 8,150 tonnes. Cathodes were mostly £4.50 lower after a turnover of 800 tonnes. On Tuesday afternoon, copper
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    • Article
      Silver
      276 8 LONDON, Wed. Silver In the morning showed losses of 2.2 to 2.3 pence per troy ounce. Dealers attributed the easier tone to the overnight decline at New York and lower gold this morning with Three Months closing the ring at 272.2 pence per troy ounce after modest liquidation. Turnover
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      444 8 SINGAPORE'S money market continued to ease yesterday with overnight funds opening at 2* per cent and closing in late afternoon at the two per cent level. Borrowers took their time covering their positions and discount houses were flooded with funds. Interest in the terms lagged. Borrowers, content to cover
      444 words
    • Article
      Minimum lending rates
      47 8 ACBC «H AI(mmm Bask m Citibank H Bangkok Bank 7 HSBT Ik Bank of America fii Bank of China 7 Bank of Tokyo Miuui Bank Bank Nagara OCBC «H ladoaoaia 7 OUB Chartered Bank «v. LICB 7 Cfcaae MankatUn (H L'MBC 7 DBS UOB
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    • Article
      Asian $ rates
      160 8 Asian rates ASIAN currency depoatt interbank rmlet u at clow on Jul* 27 C8 CMIan (flpat) Offcr Bid 7 d*jr» 1 mth 2 mtlu Smths Omttu mUu 12 mthj s */io 5V1I S 1/4 S 13/16 1/1 V10 7/1# S 7/10 5 3/10 9 V8 ft 11/10 0 0 3/10
      160 words
    • Article
      Discount
      63 8 FM hoi 1 1 )-l T S-l lNGE ol Hies on fiiH >ffe to 3 red By IH dlacount v.. utri 1*11 dep tfonth reuury ion tta Clw 9 It 4 1/1 CD 41/1 CD (M >3* teg 1 1 1 1 4 > 4 1 7/1 Rank MI
      63 words
    • Article
      Euro $ rates
      122 8 Euro rates LONDON, Wed. The Eurodollar deposit market was quiet at the outset, dealers said. Near period rates were adjusted lower on the Friday dealing technicality. The One Month rate lost 5/18 to 5 5/10 5 3/10 while the Two Month rate held steady at sft sft on a Friday
      122 words
    • Article
      Australia/NZ
      36 8 AUSTRALIA/NZ eschsmges on July 27 sank: Bt«rtlnc O.MTI/O Mtt OB doflkr I.IZTWI.UB NhwtjHtay air nail buytng rata*: Dlmn I.ISM Ninety-day forward buying ratae: Btertlnc 9.9999 ÜB_doG«ri.l.ll9t SUrtM .3999/.3999 US dour .9796/ 9999 US dollar .9999
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    • Article
      Treasury bills
      71 8 THE Monetary Authority of Singapore in rite* banks and discount houses to tender for the following Singapore Oovernment Treasury Mils: (a) $20 million 91-day Treasury Mils to be Issued from Monday Aug 1 to Aug 5; 1 (b) $10 million 112-day Treasury Mils to be tamed on Aug
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    • Article
      New York
      215 8 NEW YORK, Wed. The dollar yesterday closed sharply higher after a lively afternoon's trading following Federal Reserve Board Chairman Arthur Burns' remarks the US Is obliged to support the dollar, dealers said. The unexpected statement, which conflicts with everything the Carter Administration has recently said, triggered large-scale covering
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    • Article
      London
      212 8 LONDON, Wed. The dollar rose sharply In Europe after remarks by Federal Reserve Board Chairman Arthur Burns that the US has a responsibility to protect the Integrity of the dollar, dealers said. Operators covered short dollar positions, taking the US unit to around 2.2565/75 marks from 2 2455/65 overnight,
      212 words
    • Article
      Tokyo
      133 8 TOKYO, Wed. The US dollar for overnight delivery closed at 264.73 yen, compared with a 265.00 opening and 264.50 at yesterday's close, with no central bank Intervention detected, dealers said. The US unit advanced Initially, reflecting the yen's decline In New York overnight, but traders later Increased sales of
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    • Article
      Hongkong
      89 8 HONGKONG, Wed. The US dollar rose slightly In thin trading to 2.2542/52 marks from Its New York mid-point close of 2.2535, after opening lower at 2.2520/30 and easing to 2.2495/05 in the morning, dealers said. It closed slightly higher at HK54.6465/75 after fluctuating narrlowly in quiet trading, compared with
      89 words
    • Article
      Zurich
      47 8 ZURICH exchanges closing quotes on July 26: US 2.3930-3540 UK 4.0993-1013 Can 2.2400-2430 W Oenn 106 08-15 Netti 99.00-0# France 49 .64-49 Belt 9.93*-94K Denm 40 45-47 Norw 46 79-93 Bwed 36 56-66 Italy 0.2704-2707 Austria 14.91-93 Port 6.21-24 Spain 2 .99-91 Art 0.36-96 Japan 0.90-90S
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    • Article
      Frankfurt
      41 8 FRANKFURT opening exchanges on July 27 usura/w Can 2.1146/ UK MU 999 Neth 99.3 V 43 Swtta 94.97/ 17 Italy 2 56/ 57 Prance 49.99/ 99 Norw 43.13/23 Brit (com) 9.43/ 46 Belt (fta) 9.M/ 40 Japan 0.931 V 23
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    • Article
      Eurobonds
      298 8 LONDON, Wed. Straight bonds traded firmer In fairly active conditions, dealers said. Convertible US bonds continued steady In little activity LONDON Eurobond price* on July 27 Austria 8*. 90 1011k ***** Bell Canada 8% M 10S*» 106% BFCE8%83 102*. 103 99% Brazil 9814 Can Pacific 9*4 83 ***** 102%
      298 words
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      Page 8 Advertisements Column 1
      318 8 from Penguin I I'll IN PENGUINS Vulco M |s h ,m a firmly upheld the traditions of Japan's imperial past, which he bel'eved were being slowly eroded by Western materialism. Disillusioned he astonished the worlcf in 1970 by committing hara-kiri or ritual suicide by One of his last works, Runaway
      318 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Act or risk idle ports warns KL minister
      424 9 KUALA LUMPUR. Wed. Communications Minister Tan Sri V. Manickavasagam sounded a warning yesterday that Malaysia's sea and airports faced the possible fate of deteriorating into "white elephants" if they do not keep up with developments in transport technology. At the opening of
      424 words
    • Article
      Why Malaysia loses over traffic rights
      288 9 KUALA LUMPUR, Wed. Malaysia's main stumbling block In exchanging traffic rights with other countries was pinpointed yesterday by Malaysian Airline Systems secretary and director of legal affairs, Encik Abdul Aziz bin Abdul Rahman. The lack of bargaining power is due to Kuala Lumpur not
      288 words
    • Article
      Panama Canal a sound operation say experts
      329 9 WASHINGTON, Wed. Experts described the Panama Canal as a "sound, well-run operation" that Is a bargain (or users and worth up to US$B billion (Ss2o billion) in economic value to the world. Seven experts testified before a House of Representatives subcommittee on what
      329 words
    • Article
      PSA warning
      57 9 MARINERS have been warned by the Port of Singapore Authority (PSA) to exercise caution when proceeding near the Outer Shoal Light Tower as well as Kallang Basin. The light tower has been damaged and the light extinguished, while a steel dumo barge has sunk within Kallang Basin, about
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    • Article
      Lock icon CAF cut
      37 9 Reuter SYDNEY, Wed. The Australia Northbound Shipping Conference said its Australia to East Asia (Hongkong, Taiwan, Philippines) currency adjustment factor will be lowered to 4.23 per cent from 6.09 per cent, effective August 1. Reuter.
      Reuter  -  37 words
    • Article
      Singapore yards' drive keeps the flag flying
      698 9  -  By TERESA LIM LOCAL shipyards cannot be criticised for lacking enterprise. While the larger yards are willing to diversify into all sorts of ships, Jetties and even tin dredges, the small yards are equally energetic in sniffing out prospective commercial avenues. A leading
      698 words
    • Article
      Lock icon P&O orders six freight ferries
      245 9 FT SIX new drive-on, drive-off freight ferries are to Join P b Os short sea fleet as part of an expansion plan designed to Increase the group's Integrated freight volume by 60 to 70 per cent within three years. Three of the vessels are being
      FT  -  245 words
    • Article
      Canzac export boost
      104 9 CANZAC, a New Zealand company producing switchgear and switchboards, Intends to boost exports of Its products to Singapore and other Asean countries, through the forthcoming New Zealand Industries Trade Exhibition. The company produces low voltage swltchgear under licence to a well-known French and a British company, and
      104 words
    • Article, Illustration
      IN PORT
      358 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Setawar (2100 after Monoloeverett) 3 Nedlloyd Kapelle (1100 after Straat Clarence unberths) 10/11 NehaJ (2300 after Cape Esan) 42/43 Ocean Endurance (5 LTG) (1200 33/34 Perak (1400 after Klmanis) 21 East Shinsakura Maru (2100) 47 Shinto Maru (JBZX) (1800) 18 Straat Clarence
      358 words
    • Article
      Lock icon Taiwan signs pact with GM
      135 9 Reuter HONGKONG, Wed. Taiwan has signed an agreement with General Motors on the development of electric battery vehicles In Taiwan, the central news agency said In a report from San Francisco. The agency, monitored here, said If the agreement proves successful, a production prototype is
      Reuter  -  135 words
    • Article
      Lock icon Japanese-Boeing project
      81 9 JapaneseBoeing project Reuter TOKYO, Wed. The Japanese Civil Transport Development Corporation and Boeing of the United Btatea will resume negotiations soon on the Joint development of a mediumrange Jetliner, the Inter" national Trade and Industry Ministry said here yesterday. The decision to resume talks, which wer« suspended last September, followed
      Reuter  -  81 words
    • Article
      Nedlloyd Lines
      316 9 NEDLLOYD Lines Is a member of the Nedlloyd Group, one of the largest transportation concerns In Europe, whose activities Include liner and tramp shipping, stevedoring, shipbroking, freight forwarding, road transport and specialised services such as offshore oil drilling. Nedlloyd Lines, which operates shipping services to countries all over
      316 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      561 9 ARRIVALS 8mnrkM Local Operator Number Time Vrmm 8IA SQ582 0250 CMB MAS MH682 0610 KCH CPA CX710 1000 HLP OIA OA960 1030 HLP SIA SQ211 1046 HLP OIA OA944 1055 PKU OIA OA908 1100 MES PAL PR501 1115 MNL RBA BI325 1155 BWN SIA 8Q240 1210 MES
      561 words
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      Lock icon LONDON FREIGHT MARKET
      184 9 AP LONDON, Wed. Atlantic grain provided most of the single-voyage gartering business yesterday as other commodities once more slipped Into the back ground. Overall, the market reverted to very quiet conditions with no marked rate changes. Oreat Lakes grain chartering involved a 10,000-ton wheat shipment to Venezuela
      AP  -  184 words
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      272 9 A f* gHW^-v jk m $125/vh while stocks last! THE TIMES ATLAS of CHINA The Times Atlas of China la far mora than a collection of detailed, up-to-date mapa. It is an informative, general guide to modern China the land itaelf, and the economy and peoples it sustaine. The Atlas
      272 words
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  • Article, Illustration
    Lock icon WHY CHLORIDE NEEDS A RECHARGE AT HOME
    1805 10  -  Productivity deal* always look better, than arbitrary wage awards. But they are not always easy to operate. Nor do they achieve what they set out to do. From London, Pauline Clark reports on the experience of one company. Pauline Clark FT THIS WEEK
    FT  -  1,805 words
  • Article
    Sindona enters the scene
    2817 10  -  This is the second of a series of articles hated on four months of research into GULF AND WESTERN INDUSTRIES, the worldwide conglomerate. It was reported and writeea by SEYMOUR M. HERSH, a Pulitzer prise-winning investigative reporter, and JEFF GERTH. SEYMOUR M HERSH and JEFF GERTH
    2,817 words
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    Lock icon Iran faces an energy crisis
    605 10  -  By SAJID RIZVI UPI TEHRAN: Oil-rich Iran, one of the world's fastest developing nations, has an electricity shortage that makes New York's one-day blackout look like a simple short circuit. Shah Mohammed Resa Pahlavl is so worried about It that he has ordered his top
    UPI  -  605 words
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      54 10 •II I i 'r-M Ii• I I 111 K* Mi Hill 111 i II! or 111 Ml iffl 111 ll'V fMpii I! m m a p m 'injlijiiii iilii i mmm 1 r i MALAYA UPSIDE DOWN FEDERAL PUBLICATIONS No. 1 Nmv Industrial Road. Singapore 19 170 Jalan Sungti Basi,
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  • Article
    Sime forms new intermediate holding company
    594 11 SIME Darby Holdings yesterday announced that a new Intermediate holding company has been formed in Singapore to hold the equity of most of the group's subsidiary companies and Investments in Singapore, Thailand and Australia. The company, called Slme Darby Eastern Ltd, was formed on
    594 words
  • Article
    Plan to take part in 7 trade fairs
    222 11 THE Department of Trade is considering participation in seven international trade fairs next year. According to its latest Commercial Bulletin, these include the Frankfurt International Spring Trade Fair (Feb 26 to March 2), the Fourth Jeddah International Trade and Industry Fair (March
    222 words
  • Article
    Twinkles poised to make a big impact
    225 11 TWINKLES, the locally manufactured sugarcoated dragees by Van Houten, franchise holders of Highland Chocolates, will be hitting the kiddles market In bright new plastic packages in a big way over the next few weeks. In introducing Twinkles' new monster packs a few weeks
    225 words
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    Lock icon Malaysia protects local bicycle industry
    222 11 AFP KUALA LUMPUR, Wed. The Malaysian government today Imposed administrative restrictions on the imports of bicycles with wheel diameters ranging from 30 cm to 71 cm. An official of the Ministry of Trade and Industry said that the restriction was effective from July 13. So
    AFP  -  222 words
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    Lock icon RECORD NUMBER SIGNS UP FOR TOY FAIR
    215 11 AFP HONGKONG, Wed. A record number of 143 local firms have signed up with Hongkong's Trade Development Council to take part In this year's annual toy and gift fair scheduled for Oct 10 to 12. This was announced during a ballot conducted here
    AFP  -  215 words
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    Lock icon Paper on merger of HK marts
    143 11 Reuter HONOKONO, Wed. The office of the Commissioner for Securities is drafting a paper on unification of Hongkong's four stock exchanges, which should be ready soon, an office spokesman said. The paper will be considered by the working party on unification set up earlier
    Reuter  -  143 words
  • Article
    Phone lines
    36 11 THE Minister for National Development and Communications, Mr. Lim Kim San, will commission 10,000 lines of telephone switching equipment at the Telecommunication Authority of Singapore's new Ang Mo Klo Telephone Exchange on Aug 3.
    36 words
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    Lock icon 'Japan's deficit target is now unrealistic'
    530 11 Reuter SENDAI (Japan), Wed. Bank of Japan governor, Mr. Teilchlro Morlnaga, said Japan's target of a US$7OO million (551,715 million) current account deficit for fiscal 1977 has become unrealistic. He told a press conference the current account surplus for the first six months of
    Reuter  -  530 words
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    Lock icon Foreign interest in Thailand's gas pipe project
    437 11 Reuter BANGKOK, Wed. International companies and banks have expressed Interest In participating In a project for piping ashore natural gas from deposits In the Gulf of Thailand, Director-General of Thailand's Natural Gas Organisation (NGO) Mr. Charan Achalabhutl said. The gas was discovered over
    Reuter  -  437 words
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    Lock icon Japanese still top visitors to Manila
    215 11 AFP MANILA, Wed. Despite the June cholera scare, the Philippines' tourist traffic continues to increase and the Japanese remain the country's No. 1 tourist customers. A total of 52,229 tourists visited the country last month, up 20.3 per cent over figures In June 1976,
    AFP  -  215 words
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    Lock icon Egypt's $700m inquiry for Nippon Steel
    155 11 UPI TOKYO, Wed. A leading steel manufacturer here received an Inquiry from Egypt for construction of an integrated steel mill In Alexandra, northern Egypt at a cost of about US$3OO million. (***** million). Nippon Steel Corporation officials said they received the Inquiry on Monday
    UPI  -  155 words
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    Lock icon Exports of tapioca products rise
    123 11 AFP BANGKOK, Wed. Thailand exported 1,927,216.8 tonnes of tapioca products during the first six months of this year, the Foreign Trade Department reported today. A spokesman for the department noted that the Netherlands remained the largest buyer, buying 1,690,766 tonnes or 87.7 per cent of
    AFP  -  123 words
  • Article
    Lock icon Bank of Tokyo to cut bond rate
    127 11 UPI TOKYO, Wed. The Bank of Tokyo will cut the Interest rate of three-year bonds by 0.3 per cent per year starting with the August issue, bank officials said today. Officials said the reduction Is In line with the lowering of rates In
    UPI  -  127 words
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    Lock icon UK GIVES $42M TO AFRICAN FUND
    76 11 AFP LONDON, Wed. The House of Commons early today approved a British contribution of £10 million (8*42 million) to the African Development Fund, designed to help the continent s poorest nations. Mr. John Tomllnson, a Junior Foreign Office Minister, told members that the cash
    AFP  -  76 words
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    Lock icon Philippine lumber exports
    89 11 Reuter MANILA, Wed. PhlUpSlne lumber exports rose to 1.94 million board feet worth US$lB.l6 million (8143.94 million) in the first four months of this year from 50.13 million feet worth 815.03 million In the same 1976 Derlod. Plywood exports rose to 14.91 million sq. metres worth $15.20
    Reuter  -  89 words
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    Lock icon Controlling pollution
    38 11 AFP HONOKONO, Wed. Hongkong will soon be at the take-off point in environment protection, it was learned today. An environmental protection unit, recommended by consultants commissioned by the Kvernment, is being esbllshed within the government secretariat.
    AFP  -  38 words
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    Lock icon Sri Lanka govt to table budget in Nov
    156 11 Reuter COLOMBO. Wed. Sri Lankan Finance Minister Ronnie De Mel said he will table the first budget of the new government in NovemHe forecasts inflation this year to rise to 25 per cent from 17 per cent in 1976. He told a
    Reuter  -  156 words
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    Lock icon FIRST STAGE OF STEEL COMPLEX READY
    228 11 AFP JAKARTA, Wed. President Suharto today Inaugurated the first stage of an ambitious steel mill complex originally started with Russian aid 15 years ago and continued with Dutch and West German technical assistance. The mill at Cllegon, west Java, will have an output of
    AFP  -  228 words
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    Lock icon Labour control
    71 11 AFP BANGKOK, Wed. The Interior Ministry has slapped controls on the export of Thai labour to West Asia in what was seen as a bid to protect Thai workers. A spokesman for the Mlnlstiy disclosed that all Job placement sgencles for the oil-rich countries were now required to
    AFP  -  71 words
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    Lock icon Jute quota
    36 11 AFP BANGKOK, Wed. A European Economic Community (EEC) team is scheduled to arrive here today for negotiations on Thailand's export quota of Jute yarn to the Benelux countries, the Foreign Trade Department disclosed. AFP.
    AFP  -  36 words
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    Lock icon Shipbuilding
    28 11 Reuter PARIS, Wed. French Supply Minister JeanPierre Fourcade is to make a statement about France's shipbuilding Industry at the weekly Cabinet meeting, a presidential spokesman said. Reuter.
    Reuter  -  28 words
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    Lock icon Two to discuss state of world economy
    160 11 Reuter TOKYO, Wad. The US and Japan will discuss the world economic situation aa wall as bilateral trade problems at a sub-Cabinet level meeting to be bald in Tokyo in midSeptember, Mr. Jaek Button, the US embassy's minis ter-coun-sell or for economic and
    Reuter  -  160 words
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    Lock icon Talks on jetliner to resume
    114 11 Reuter TOKYO, Wed. The Japanese Civil Transport Development Corp and Boeing of the US will resume negotiations soon on the Joint development of a medium-range Jetliner, the International Trade and Industry Ministry said. The decision to resume talks, which were suspended last September, followed a
    Reuter  -  114 words
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    Lock icon Industrial output moves up
    165 11 Reuter TOKYO, Wed. Japan s June "Industrial production index rose 0.5 per cent to a preliminary 129 6 (base of 1970), seasonally adjusted, after May's fall of 2.3 per cent, the Ministry of International Trade and Industry said. The year-on-year rise in the production index was
    Reuter  -  165 words
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    Lock icon US protests Tokyo's silk yarn curbs
    344 11 AP GENEVA, Wed. The United States yesterday lodged a formal complaint against Japanese restrictions of Imports of American silk yarn In the Council of the General Agreement on Tariffs and Trade Gatti). A Gatt spokesman said the Council deferred any action on the complaint.
    AP  -  344 words
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    Lock icon Credit for wheat
    35 11 AFP WASHINGTON, Wed. The Department' of Agriculture Is to extend a new US$l5.6 billion (5137.9 million) line of credit to the Philippines to buy US wheat, it was announced officially here yesterday.
    AFP  -  35 words
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      336 11 NOTICE TIMING OPPORTUNITIES IN NIGERIA Managing Director of a leading trading company which specialises in the export trade to Nigeria expects to visit Nigeria again during November/ December 1977. This company has handled no less than 15 products of Singapore origin to Nigeria during 1975/ 77 and on this occasion,
      336 words
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  • Article
    Toy market in Japan likely to benefit us
    518 12 SINGAPORE and other South-east Asian countries are likely to benefit from the growing toy market In Japan, In the form of Increased exports as well as In the setting up of more Joint Japanese toy manufacturing ventures Outlining the reasons for this
    518 words
  • Article
    US reaffirms free trade policy
    372 12 THE US government has reaffirmed its desire to maintain a liberal, open trade policy towards developing nations. In its latest economics bulletin, the US Information Service says the American government has been "phillsophlcally committed to a liberal open trading world since 1934." Both major political
    372 words
  • Article
    Pica's stake in packaging firm
    243 12 PICA Pte Ltd, a whollyowned Singapore subsidiary of Private Investment Company for Asia (PICA), has taken a 30 per cent interest In a new Singapore company, M.C. Packaging Pte Ltd. The major shareholder In M.C. Packaging, a $5.3 million project, Is Metal Containers, a member
    243 words
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    Lock icon Bangkok blackout threat averted
    135 12 Reuter BANGKOK, Wed. A city blackout was averted today after an oil firm and the state-run Electricity Generating Authority of Thailand (Egat) reached a lastminute agreement on the price of fuel used in power production. A spokesman of the Summit Industrial Corporation, the contracted supplier of
    Reuter  -  135 words
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    Lock icon Indonesia revokes licences of seven futures firms
    223 12 UPI JAKARTA, W«dL —TW yesterday revoked the operating licences of trading firms accused of abusing their authority to the financial detriment of mSmmtm inV< Trade Minister Prawiro^said firms engaged in onlicensed commodity futures trading deals under the cover of their general wholesale trading
    UPI  -  223 words
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    Lock icon Storm over British Post Office profit
    210 12 UPI LONDON, Wed. Britain's Post Office today announced a profit of £400 million (891,608 million) In the financial year 1976-77, and faces a storm of protest from Its business and private users. The post office said all four of Its sections contributed to the
    UPI  -  210 words
  • Article, Illustration
    S'pore may soon be region's marketing agent
    550 12 SINGAPORE may become Asean's marketing agent soon, if plans by the Port of Singapore Authority (PSA) to develop a strong marketing machinery for the region go through. Outlining the possibility of an Interesting new policy, Mr. Ong Teng Cheong, Senior Minister of State
    550 words
  • Article, Illustration
    She takes politics and business in her stride
    776 12 FOR MRS. Somsrl Cha-roen-RaJapark, the question of being a woman In the male-dominated worlds of business and politics hardly arises at all. As the chairman of Bangkok's President Hotel and a member of the Thai Parliament, her primary concern Is simply to
    776 words
  • Article
    200,000 more cans
    110 12 JAPAN, according to Its embassy here, has Increased Its import quota for canned pineapples from 500,000 cases for the fiscal year 1976 to 700,000 cases for the period April to October 1977. The Commercial Bulletin, Issued by the Department of Trade, stated that the quota for the
    110 words
  • Article
    LONDON STOCKS
    662 12 LONDON, Wed. Stock price* advanced, with government bonds leading the way following sterling's sharp rise, dealers said. At 3 p.m. the FT Industrial Index was 3.1 points higher at 433.2, after being down 3.7 at ml<l-<lajr. Government bonds gained up to a full point but thin trading conditions
    662 words
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    Lock icon Goodwill visit
    42 12 AFP DACCA, Wed. A fivemember Pakistan banking delegation arrived here yesterday on a four-day goodwill visit to Bangladesh. Headed by Mr. 8. Osman All, governor of State Bank of Pakistan, the delegation will have discussions with their Bangladesh counterparts. ATP
    AFP  -  42 words
  • Article
    Lock icon NARODNY MAKES DEMANDS ON COMFIN
    233 12 Reuter BRISBANE. Wed The Moscow Narodnv Bank has ■ad* cartala demands Brisbane-baaed investor and rani aetata company, Com fin Australian Ltd., as a secured creditor, Com fin said la a stateThe company, wboae skarse were suapeaded from els oh exchange trading on July 12, aieo
    Reuter  -  233 words
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    Lock icon Chambers approve nine industrial groupings
    245 12 Reuter MANILA, Wed. The Ase&n chambers of commerce have approved the formation of nine Industrial groupings In the region. It was announced here today. The announcement, after a two-day meeting of the Asean-CCI working group, said the action was designed to streamline production and avoid
    Reuter  -  245 words
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    Lock icon 'Time ripe for Asean c-mart'
    313 12 AFP MANILA, Wed. Philippine Trade Secretary Troadlo Qulason Jr. today said the establishment of an Asean economic community would be an answer to the protectionist moves taken by developed countries. "Almost everyone In the developed world has gone protectionist and their example leaves us in
    AFP  -  313 words
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    Lock icon Dialogue with others welcome
    396 12 AFP KUALA LUMPUR, Wed. Malaysia hopes the dialogue between Asean Heads of Government with Japan, Australia and New Zealand here next month will pave the way for Asean to hold similar dialogues with other nations, Foreign Minister Tengku Ahmad Rlthauddeen said here tonight. He said the
    AFP  -  396 words
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      67 12 COPPER TIBE PIPE For all your requirements in: Air-conditioning Heat-exchanging Plumbing etc... Mi r x' v v m&iM \l tL j£_ MERITS: 1. Excellent quality I 2. Available even in small quantity 3. Short delivery terms I 4. Stabilized supply I SINGAPORE KOBE PTE. LTD. a subsidiary of KOBE STIIL
      67 words