The Business Times, 29 January 2015

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Microfilm: NL33340
Total Pages: 34
1 34 The Business Times
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  • Title Section
    Lock icon Masthead
    24 1 THE BUSINESS TIMES S$1.00 S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 Thursday, January 29,2015
    24 words
  • DAILY DIGEST
    • Article
      Lock icon The Singapore dollar weakened
      37 1 on Wednesday to its lowest against the US dollar since September 2010 after the Monetary Authority of Singapore shocked markets by easing its pace of appreciation against trading partners’ currencies. TOP STORIES 2
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    • Article
      Lock icon More consumers in Singapore
      24 1 are optimistic about their families’ finances, even as fewer are confident about the outlook for the economy. TOP STORIES 4
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    • Article
      Lock icon Doing business in China
      47 1 it is said, boils down to guanxi, or relationships. But buying a company linked to someone powerful can just as well work against you, warned participants at a symposium, who were discussing issues related to conducting due diligence in China. COMPANIES MARKETS 8
      47 words
    • Article, Illustration
      Lock icon For all the sectarian violence gripping Iraq
      20 1 Syariah-compliant banks operating in the country see opportunities for growth. BANKING FINANCE 24
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    • Article
      Lock icon Remanufacturing is the buzzword
      33 1 for the business of transforming a recovered part or product by taking it apart, cleaning and creating like-new products that can be introduced to the market. ENERGY COMMODITIES 25
      33 words
    • Article
      Lock icon Yahoo is spinning off
      23 1 its stake in Chinese Internet giant Alibaba, splitting off the valuable holdings in a move that sidesteps taxes. TECHNOLOGY/26
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    • Article
      Lock icon China plans to cut its growth target
      47 1 to around 7 per cent in 2015, its lowest goal in 11 years, sources said, as policymakers try to manage slowing growth, job creation and pursuing reforms intended to make the economy more driven by market forces. GOVERNMENT ECONOMY 27
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  • Article
    Lock icon MARKETS
    27 1 Wednesday Change STI 3,419.15 +6.95 KL COMP 1,795.88 -7.29 NIKKEI 225 17,795.73 +27.43 HANG SENG 24,861.81 +54.53 SHENZHEN B 1,070.01 -4.06 DOW (11am EST) 17,370.14 -17.07
    27 words
  • Article, Illustration
    Lock icon MAS springs surprise: slower S$ gains
    1040 1  -  Local unit retreats against major and regional currencies; slump in oil prices also prompts central bank to revise 2015 inflation forecasts By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’S central bank astonished markets on Wednesday when it eased monetary policy and shifted inflation forecasts significantly
    Source: Monetary Authority of Singapore  -  1,040 words
  • Article, Illustration
    Lock icon MAS’s lesson in the unexpected
    623 1  -  COMMENTARY By Wong Wei Kong weikong@sph.com.sg @WongWeiKongBT IF surprise is a key weapon in a central bank’s armoury, the Monetary Authority of Singapore (MAS) wielded it emphatically on Wednesday, with an unexpected easing stroke. Catching the market off-guard, MAS decreased the slope of its Singapore
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      114 1 ||llllllllllll||llllllllllll|| 8 *****1 *****4 RELATIONSHIP OF TRUST Guanxi in China ‘can be a double-edged sword’ COMPANIES MARKETS 8 hartmann SINCE 1877 "Luggage so fine it will stand as *a symbol of excellence" a IlV 435 ORCHARD ROAD WISMA ATRIA #02-12 TEL 6737 0774 0 0<i rS c L* <oPo 8!
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      25 1 NEW GRANT Japanese drugmaker Chugai to invest another S$476m here top stories 6 HOCK LOCK SIEW Lessons from the UE E&C takeover COMPANIES MARKETS 7
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      12 1 FAIR DEAL Greece won’t bow to 'politics of submission' GOVERNMENT ECONOMY 29
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  • TOP STORIES
    • Article, Illustration
      Lock icon S$ hits 4-year low; exports outlook still gloomy
      498 2  -  Economists say anaemic exports affected more by structural factors MAS POLICY SURPRISE By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore THE Singapore dollar weakened to its lowest against the US dollar since September 2010 on Wednesday after the Monetary Authority of Singapore (MAS)
      Source: Bloomberg  -  498 words
    • Article, Illustration
      Lock icon How Singapore’s monetary policy works
      425 2  -  The Monetary Authority of Singapore’s (MAS) goal is to ensure price stability as a basis for sustainable economic growth. When inflation is low and stable, there is less uncertainty about returns on long-term investments, and firms can plan further ahead. It also helps to ensure
      Source: MAS, Department of Statistics BT Graphics: Teh Shi Ning, Kelly Tay, Simon Ang, Gareth Chung & Jennifer Chua  -  425 words
    • Article, Illustration
      Lock icon Short-term borrowing rates including Sibor seen getting a boost
      618 2  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore THE early signal and move by Singapore’s central bank on Wednesday to ease the appreciation of the Singapore dollar (SGD) is likely to boost short-term SGD borrowing rates further, analysts said. This comes as the
      Source: Bloomberg  -  618 words
    • Article
      Lock icon Inflation still expected to rise in H2 2015
      356 2  -  By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore ALTHOUGH inflation may look benign right now especially with the Monetary Authority of Singapore (MAS) slashing its inflation forecasts for 2015 the consumer price index (CPI) is expected to rise in the second half of this
      356 words
    • Article
      Lock icon Consumer confidence at 6-month high but sentiment over economy worsens
      466 4  -  ANZ-Roy Morgan index rises to 122.8 in January, compared to the 2014 average of 121.1 By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore MORE consumers in Singapore are optimistic about their families’ finances, even as fewer are confident about the outlook for
      466 words
    • Article
      Lock icon Singapore Open returns after 3-year hiatus
      715 4  -  Event will be held Jan 28-31, 2016 at Serapong Course with a new title sponsor and sanctioning partner By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore AFTER a three-year hiatus, Singapore’s iconic national golfing open will make a welcome return with a new title sponsor and
      715 words
    • Article
      Lock icon Singapore hosts SEA Games on S$324.5m budget
      311 4  -  By Prisca Ang prisang@sph.com.sg Singapore THIS year’s South-east Asian (SEA) Games, which Singapore will stage over two weeks in June, will be organised with an estimated budget of S$324.5 million, the organisers announced on Wednesday. “This is not the largest SEA Games that
      311 words
    • Article
      Lock icon Chugai investing S$476m more into S’pore facility
      526 6  -  Funds will be used to boost Japanese drug maker’s local employee base and antibody R&D pipeline By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore JAPANESE drug maker Chugai Pharmaceutical on Wednesday announced that it will invest S$476 million from now until 2021 into its research
      526 words
    • Article, Illustration
      Lock icon Japan’s trade balance to turn positive this year, JP Morgan predicts
      768 6  -  By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S trade balance could swing dramatically back into the black this year and stay there after four years of being heavily in the red, investment bank JP Morgan has said. In a new analysis
      PHOTO: BLOOMBERG  -  768 words
    • Article
      Lock icon Completed condo prices down 1.2% in Dec: NUS index
      427 6  -  By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore PRICES of completed non-landed private homes in Singapore fell 1.2 per cent in December from November, based on flash estimates from the National University of Singapore (NUS) for its Overall Singapore Residential Price Index (SRPI).
      427 words
    • Article
      Lock icon More going through mediation to resolve disputes
      418 6  -  By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore MORE businesses have turned to the Singapore Mediation Centre (SMC) for a cost-effective form of dispute resolution, with more than 300 commercial disputes handled last year. In all, SMC handled 337 mediation matters last year, the highest
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      100 4 BLUM www.blumnco.com m a. a •J. V S*’ S STi._ 4 ipl 2-irs .v 'K few B®i} iiri U-.'t I# 1w5 T^'SP ft® ip i\:3 fm m/ < i /wt d t ’TJ V:" I r s&sh fcSst mt m V. 4 -vaii MALAYSIA EMPIRE SHOPPING GALLERY LOT UG25 PAVILION
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      180 5 Orchard City Hall Bugis Promenade Bayfront Downtown Marina Bay VISIT OUR SHOW GALLERY (off Central Boulevard) North South Line MARINA ONE RESIDENCES Call 6327 1011 www.marinaone.com.sg Circle Line East West Line DUO RESIDENCES Call 6298 8895 www.DUOsingapore.com Downtown Line Raffles Place Thomson Line(U/C) DUO RESIDENCES Developer Ophir-Rochor Residential Pte. Ltd.
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      225 6 FUTURE CHINA gd ADVANCED LEADERS PROGRAMME Grooming future leaders to be “Chin&ready” “Oiina-savvy” and “Connected” j f It is immensely experiential. The network and the friendships that I made in this Programme would take me a long way. 11 Chai Khye Yeien Country Head of Operations, China Far East Organization
      225 words
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      17 6 Discover Greener Pastures Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Change of Address Notices
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  • COMPANIES & MARKETS
    • Article
      Lock icon Lessons from the UE E&C takeover
      918 7  -  HOCK LOCK SIEW BY R SIVANITHY sivan@sph.com.sg @RSivanithyBT NOW that the proposed takeover of UE E&C has been completed and the engineering and construction company is to be taken private in due course, it’s worth looking back at the saga because it offers many
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    • Article
      Lock icon CDLHT declares 3.13¢ DPS for Q4, eyes more Japan assets
      694 7  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CDL Hospitality Trust (CDLHT), which on Wednesday posted a 7.2 per cent rise in distribution per stapled security (DPS) to 3.13 cents for the fourth quarter ended Dec 31, 2014, is eyeing more hotel
      694 words
    • Article, Illustration
      Lock icon Guanxi in China ‘can be a double-edged sword’
      751 8  -  A relationship of trust can paper over fraud, for example, warn due-diligence experts By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore DOING business in China, it is said, boils down to guanxi, or relationships. But buying a company linked to someone powerful can just
      751 words
    • Article
      Lock icon China launching new probe into margin trading, bank lending: sources
      432 8 REUTERS Beijing CHINESE regulators will launch a fresh investigation into stock margin trading, and banks have been told to tighten supervision of their lending practices to ensure loans aren’t funnelled into stock markets, three sources with direct knowledge of the
      REUTERS  -  432 words
    • IN BRIEF
      • Article
        Lock icon KepCorp’s KepLand bid: joint financial adviser appointed
        40 8 keppel Corp, which has offered to buy the remaining shares in Keppel Land that it does not own, said on Wednesday that Credit Suisse (Singapore) has been appointed as the joint financial adviser.
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      • Article
        Lock icon Mercator Lines Q3 loss widens
        92 8 MERCATOR Lines recorded a net loss of US$7.47 million for the third quarter ended Dec 31, 2014, compared to a net loss of US$3.28 million the year before. Over the same period, revenue plunged 43 per cent to US$13.26 million, mainly due to the “fall
        92 words
      • Article
        Lock icon Terratech to acquire Chinese marble tile producer
        111 8 TERRATECH Group has entered into a framework agreement to acquire 100 per cent of the equity interest in Meilian Changchi, a Chinese company that produces and sells marble tiles and marble mosaic tiles, through consideration shares worth approximately S$15.44 million. The purpose of
        111 words
    • Article, Illustration
      Lock icon STI / Catalist
      63 10 STI Catalist Straits Times Index Jan 28,2014 3,419.15 +6.95 (+0.20%) Current streak 2 days Day high 3,427.19 Day low 3,404.17 52-week high 3,419.15 (Jan 28, 2015) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Jan 28,2015 742.14 +1.86 (+0.25%) Current streak 2 days Day high 743.30 Day low
      63 words
    • Article, Illustration
      Lock icon Late push gives STI a 6.95-point gain
      629 10  -  Volume dips in quiet session; earlier losses likely hangover effect from overnight Wall Street plunge STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT A RELATIVELY quiet session on Wednesday ended with a late push on the Straits Times Index that took it from just inside
      Source: Bloomberg  -  629 words
    • Article
      Lock icon STI STOCKS
      307 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 248 -5 255/247 263 206 5.7 6270.3 CapitaLand 355 +2 355/351 364 268 17.8 2.3 *****.9 CapitaMall Trust 215 cd -5 223/214 226 180 5 7456.8 CityDev 1025 +10 1028/1011 1118 860
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    • Article
      Lock icon MOST ACTIVE
      37 10 VOLUME Advance SCT 121,200,000 Memstar Tech 56,189,100 IHC 53,734,900 SIIC Environment 41,529,600 Golden Agri-Res 38,612,400 Market volume 1,555,651,000 VALUE DBS Grp 90,467,005 Global Logistic 60,126,734 SingTel 58,970,452 UOB 57,278,492 Keppel Corp 56,192,340 Market value 1,238,865,000
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    • Article
      Lock icon SGX ETFs
      113 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US804 +4 1092 813/804 1000/541 804/807 100.5 STI ETF 346 cd +2 151 347/345 349/298 345/347 Lyxor HSI US$ US312 +3 105 312/310 320/259 308/314 27.1 DBXT MSINDO us$ US1457 -3 28
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    • Article
      Lock icon OTHER SINGAPORE INDICES
      77 10 Jan 28 VALUE CLOSE BT OB/OS 275.00 +155.00 BT CADI -*****.00 +49.00 BT 10-day MA -*****.00 +27.00 FTSE ST Mid Cap 792.42 +3.21 FTSE ST Small Cap 506.24 +0.06 FTSE ST All Share 824.13 +1.85 FTSE ST China Top 198.86 +1.24 FTSE ST China 238.39 +1.70 FTSE
      77 words
    • Article, Illustration
      Lock icon STI / FTSE ST All-Share
      35 10 STI FTSE ST All-Share FTSE ST All-Share index Jan 28,2015 824.13 +1.85 (+0.22%) Current streak 2 days Day high 825.05 Day low 820.58 52-week high 824.13 (Jan 28, 2015) 52-week low 722.35 (Feb 5, 2014)
      35 words
    • Article, Illustration
      Lock icon STI / MSCI EAFE
      33 10 STI MSCI EAFE MSCI EAFE Index Jan 27,2014 1,807.62 +15.12 (+0.84%) Current streak 7 days Day high 1,807.62 Day low 1,791.28 52-week high 1,995.49 (Jul 3, 2014) 52-week low 1,697.01 (Jan 7, 2015)
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    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 1 3 0 0 0 12 1 3 Manufacturing 51 42 33 7 8 6 58 50 39 Commerce 23 17 17 3 3 7 26 20 24 Tpt/Stor/Comms 16 7 16
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    • Article
      Lock icon SECURITIES TRADING TURNOVER
      119 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 32,371 32,371 99,533 99,533 Manufacturing 229,513 33,162 262,675 92,365 1,734 94,099 Commerce 84,961 26,816 111,777 108,400 1,521 109,921 Tpt/Stor/Comms 120,825 411 121,236 197,160 122 197,282 Finance 39,339 158 39,497 208,322 33 208,355 Construction 22,748 3,855
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    • Article
      Lock icon GAINERS
      76 10 BY CENTS CLOSE UP 52w high/low DBXT MSEurope US$ 5752 124.4 1.6 6492/5366 GLD US$ ***** 83.9 0.5 *****/***** DBXT STGLDv US$ 3282 56.8 1.3 3542/3042 IS LC 1-3Y S$D 1279 27.0 2.2 1279/1237 UOL 745 26.0 3.6 745/561 BY PERCENTAGE CLOSE UP 52w high/low Yong Xin Intl 3.2
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    • Article
      Lock icon LOSERS
      75 10 BY CENTS CLOSE DOWN 52w high/low SPDR DJIA US$ ***** -476.0 -2.0 *****/***** JMH USD 6544 -240.7 -2.6 6788/4934 JSH USD 3629 -55.5 -1.1 3810/3006 DBXT Vietam US$ 2630 -41.9 -1.2 3100/2403 DBXT S&P500 US$ 3438 -23.0 -0.5 3490/2880 BY PERCENTAGE CLOSE DOWN 52w high/low Elektromotive 0.4 -20.0 -0.1
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    • Article
      Lock icon UNUSUAL ACTIVITY
      82 10 VOL CLOSE($) CHANGE Yong Xin Intl 59.1 0.032 +0.014 +77.78 Hoe Leong 8,982.1 0.056 +0.008 +16.67 Ossia Intl 2,219.0 0.265 +0.045 +20.46 Armarda 31,860.1 0.004 +0.001 +33.33 China Essence 2,277.1 0.007 +0.002 +40.00 ISOTeam 1,457.0 0.555 +0.030 +5.71 HuanHsin 2,422.0 0.044 +0.005 +12.82 Loyz Energy 5,195.0 0.090 +0.004
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    • BROKERS’ TAKE
      • Article
        Lock icon Amtek Engineering
        123 10 Buy Jan 28 close: S$0.64 Target price: S$0.74 DBS Group Research, Jan 28 AMTEK is one of the world's largest precision engineering companies. Cross-selling, cost-cutting and growth of automotive sector are three key drivers. It is trading at 9.5 times FY2015F earnings per share (EPS) versus four-year historical
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      • Article
        Lock icon Singapore Banks
        114 10 Neutral Jefferies Singapore, Jan 28 REUTERS reported on Tuesday b that two Singapore listed oilfield services firms Ezra Holdings and Swiber Holdings are finding it tough to refinance debt maturing later this year. We think events unfolding in the oil gas sector could pose systemic risk for the
        114 words
      • Article
        Lock icon Riverstone Holdings
        190 10  -  Compiled by Jaime Lee Buy Jan 28 close: S$1.065 Target price: S$1.21 Maybank-Kim Eng Research, Jan 28 COMPETITION in nitrile healthcare gloves is expected to stiffen this year on a 17 per cent influx of capacity for 19 billion gloves by the Big-Four glovemakers and Riverstone. Any excess
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    • Article
      Lock icon CALENDAR
      32 10 DATA I 9.30 pm (Jan 29) US Initial Jobless Claims I 9.30 pm (Jan 30) US Employment Cost Index I Jan 30 S’pore Labour Force S’pore Business Expectations Singapore Bank Lending
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    • Article
      Lock icon US$ inches up, caution ahead of Fed statement
      384 11 CURRENCIES London THE US dollar climbed against a basket of currencies on Wednesday, recouping some of the previous day’s sharp losses, although gains were muted before a statement from the Federal Reserve after its policy meeting. Interest-rate sensitive two-year Treasury yields held
      384 words
    • FOREX RATES
      • Article
        Lock icon INTERBANK CROSS RATES
        471 11 Jan 28 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.993 4.995 0.705 6.199 49.063 99.876 0.945 8.673 2.896 1.072 80.665 35.261 1.082 9.236 0.725 24.943 26.045 0.527 0.800 Canada 1.007 5.030
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      • Article, Illustration
        Lock icon HANG SENG
        2 11
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      • Article, Illustration
        Lock icon NIKKEI
        1 11
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      • Article, Illustration
        Lock icon SHANGHAI COMPOSITE
        2 11
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      • Article, Illustration
        Lock icon DOW JONES
        2 11
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      • Article
        Lock icon INTERBANK CURRENCY RATES
        155 11 Jan 28 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0814 1.0817 0.7996 0.7997 Canadian dollar 1.0888 1.0894 0.8054 0.8051 Euro 1.5335 1.5338 1.1339 1.1340 NZ dollar 1.0082 1.0090 0.7455 0.7460 Sterling pound 2.0504 2.0508 1.5161 1.5162
        155 words
      • Article
        Lock icon US$/S$ FORWARD RATES
        22 11 Jan 28 S$ Bid Offer 1-month 1.3532 1.3537 2-months 1.3539 1.3544 3-months 1.3543 1.3550 6-months 1.3555 1.3564 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • Article
        Lock icon BONDS, WARRANTS, PREFERENCE SHARES
        212 11 Jan 28 Most active Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Singapore Post MB eCW*****7 4.1 0.1 7128 0.2 215 8 KepCorp MB eCW*****2 7.3 0.8 4065 0.2 900 5 DBS MB eCW*****2 9.4 -0.3 3621 0.1 0
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        373 11 In local curr In S$ In US$ dy yr dy yr dy yr Jan 27 Index Change Change Change Change Change Change World Preliminary 1282.3 -0.8 0.5 -0.7 0.8 -0.5 -0.3 EAFE Preliminary 1020.3 0.0 3.4 0.6 2.9 0.8 1.8 Europe Preliminary 1439.2 -0.7 4.2
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      • Article
        Lock icon SGX DERIVATIVES TRADING
        371 11 Jan 28 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.93 *****.59 *****.93 Mar15 *****.00 *****.00 *****.00 *****.00 ***** *****6 Jun15 *****.00 *****.00 *****.00 *****.00 27 4098 MSCI TAIWAN INDEX FUTURES SPOT 352.41 353.19 351.43 Jan15 353.50 353.70 349.40 353.40 *****4 ***** Feb15 354.00
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    • BANK RATES
      • Article
        Lock icon INTERBANK RATES
        154 11 Jan 28 $S Offer Bid 0vernight 0.15 0.10 1-month 0.625 0.50 2-months 0.625 0.50 3-months 0.6875 0.5625 Overnight mode: 0.10 US$ Offer Bid 7 days 0.17 0.07 1 month 0.23 0.13 2 months 0.28 0.18 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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      • Article
        Lock icon SIBOR
        36 11 Jan 28 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • Article
        Lock icon GOVERNMENT SECURITIES
        71 11 Jan 28 Jan 28 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0Z 2.375 01-Apr-17 103.19 103.50 103.25 5-Year N*****0H 1.625 01-Oct-19 100.78 101.25 100.83 10-Year NY*****H 3.000 01-Sep-24 108.81 109.63 108.88 15-Year NY*****E 2.875 01-Jul-29 106.64 107.55 106.70 20-Year NZ*****V 3.375
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    • AGRI METALS ENERGY
      • Article
        Lock icon COMMODITY FUTURES
        250 11 Jan-27 Price Net change change Last Trade Agricultural Jan-27 CBOT Soybeans (US cents/bu) 973.75 -9.75 -0.99% 13/03/2015 CBOT Soybean Oil (US cents/lb) 31.17 0.09 0.29% 13/03/2015 CBOT Wheat (US cents/bu) 519.00 -1.50 -0.29% 13/03/2014 Jan-27 LIFFE Cocoa (£/tonne) 1914.00 -5.00 -0.26% 16/03/2015 LIFFE Coffee (US$/tonne) 1959.00 35.00 1.82%
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    • Article
      Lock icon Six cleantech SMEs get $2.5m JTC-Spring boost
      395 12  -  Support allows these enterprises to test-bed their new sustainable technologies and solutions By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore SIX clean technology small and medi-um-sized enterprises (SMEs) have been awarded a S$2.5 million boost to test-bed their new sustainable technologies and solutions. The support
      395 words
    • Article, Illustration
      Lock icon Solar, water-treatment key themes of projects
      717 12  -  By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore A WIDE range of products falls under the category of clean technologies, but two key themes stand out among the six proposals chosen under the inaugural JTC-Spring Grant Call; three are solar projects and two are wa-ter-treatment
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    • Article
      Lock icon AirAsia X planning rights issue, senior management shuffle: reports
      418 12  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore LONG-haul budget carrier AirAsia X is planning a rights issue as it struggles with cash-flow issues, reports said, while some of its senior management could be on the way out. According to a Reuters report,
      418 words
    • Article
      Lock icon Caterpillar cuts profit outlook, says low oil price will hit sales
      287 12 REUTERS Chicago CATERPILLAR Inc on Tuesday cut its 2015 profit outlook and warned the plunge in oil prices would hurt its energy equipment business, sending shares tumbling as much as 8 per cent. The world’s largest construction and mining
      REUTERS  -  287 words
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      264 words
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      82 words
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      76 8 ONLINE SALE www.oaks.com.sg Wine, Whisky, Sake, Champagne, Life Style and Wine Accessories Over 500 products available.. Penfolds Limited Edtion Vintage 2008 Collection 1x Grange (RP-100) 1x St Henri (JH-94) 1x Bin 707 (RP-91) 1xRWT(RP-93) FREE Book The Rewards of Patience by Andrew Caillard Usual: S$1,998.00 Now: S$1,688.00 The Oaks Cellars
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      385 8 The Business Times NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF Escriba Events Pte Ltd (In Creditors’ Voluntary Liquidation) Reg. No. *****8311H NOTICE OF RESOLUTION At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 133 New Bridge Road
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      86 12 Myanmar: Myanmar Civil Aviation Development Conference 2015 23 26 March 2015 Sedona Hotel Yangon www.mcadc.sphereconferences.com 'Iiiinii"" Greater Heights The only strategic conference where airports, airlines and stakeholders convene to define the future of Myanmar’s aviation sector. Organiser: Patron: Official Host: sphere SINGAPORE PRESS HOLDINGS Department of Civil Aviation. Myanmar Group
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      56 12 fb.com/ComexITShow www.itshow.com.sg 19-22 MAR 2015 SUNTEC Singapore, Levels 3, 4 &6 12pm 9pm FREE ADMISSION 12pm 9pm Sellyourtechproducts &servicesatSingapore’s LARGESTI.T,digital, mobile&consumer electronicsexhibition! Book Your Space NOW! *Limited Booths Available For more information, call *****620 or email to sales@exhibitsinc.com.sg ORGANISED BY: Organiser of IT SHOW, Food and Beverage Fair, COMEX, World
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      59 12 The Premier Platform for Gifts Sourcing ilSGPFair Singapore Gifts Premiums Fair 2015 29 31 JULY 2015 Marina Bay Sands Expo Convention Centre, Singapore www.SGPFair.com V w EXHIBIT PROFILE Sports Leisure Trophies Awards Etc. Wi Interested to exhibit? Tel: (65) 6848 5938 Email: SGPFair@bizlink.com.sg Organised By: BIZLINK Exhibition Services Pte Ltd
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      43 12 GUNNING FOR GUINNESS Indians and their craze to be No.1 see record number of applications to enter the book of records ALL ABOUT KAMAL HASSAN’S YOUNGER DAUGHTER GET YOUR COPY TOMORROW FROM ALL 7-ELEVEN OUTLETS TO ADVERTISE: CALL KALWANT (*****327) OR NISHAL (*****438)
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  • REAL ESTATE
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      Lock icon Buying S’pore or HK property? Watch Fed moves
      320 13 If it raises rates in H2 as widely expected, property prices in these places may fall by 5% REUTERS Singapore INVESTORS seeking to buy property in Singapore or Hong Kong this year may be better off listening to US Federal Reserve chair
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      Lock icon Mortgage revival expected in Spain after ECB easing
      389 13 REUTERS Madrid SPANISH home loans rose for the sixth straight month in November, a recovery expected to gather steam this year after the European Central Bank’s (ECB) efforts to funnel cheap credit to banks. The number of residential mortgages handed out in
      REUTERS  -  389 words
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      Lock icon Bloomberry plans S Korea casino in first overseas foray
      232 13 REUTERS Manila THE Philippines’ Bloomberry Resorts Corp said it is planning a casino and entertainment complex in South Korea, its maiden overseas venture as it seeks to become a bigger name in the gaming and leisure industry. South Korea, which is
      REUTERS  -  232 words
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      Lock icon Qatari-led group set to win bid for London’s Canary Wharf
      592 16 Owner Songbird Estates has dropped its opposition to the US$4b offer REUTERS London A QATARI-LED consortium looked set to win its long-run-ning battle to buy Songbird Estates on Wednesday after the owner of London’s Canary Wharf business district dropped its
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      Lock icon Dubai house prices to ease in 2015: JLL
      439 16 Emirate’s robust economy is helping it avoid repeat of crash in 2008-9 despite a slump in oil prices REUTERS Dubai DUBAI house prices will fall by up to 10 per cent in 2015 after rising almost 60 per cent in two years,
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    • Article
      Lock icon Life of Italian nobility for sale, complete with rules and taxes
      1184 18 Buying the castle is one thing, making changes to it is either impossible or extremely bureaucratic and complicated NYT Pontassieve, Italy NESTLED on a gentle Tuscan hill near this town just west of Florence sits a medieval castle that
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      Lock icon Sunac likely to take over troubled Kaisa Group
      288 18 BLOOMBERG Beijing SUNAC China Holdings was described by its chairman as the firm most likely to take over troubled Chinese property developer Kaisa Group Holdings. A screen grab of Sunac China chairman Sun Hongbin’s microblogging account on Wednesday showed he’d voted in
      BLOOMBERG; PHOTO: REUTERS  -  288 words
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      Lock icon Stylish plans for sleepy, industrial Red Hook
      1311 21 Ambitious scheme for 12-acre, 1.2 million-square-foot mixed-use project called Red Hook Innovation District would include offices, shops, performance spaces, promenade NYT New York UNTIL recently, the development march of office and apartment towers that displaced warehouses and refineries along the Brooklyn waterfront largely
      NYT; PHOTO: BLOOMBERG  -  1,311 words
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      Lock icon Ireland eases mortgage cap plan to help first-time buyers
      458 22 They will be allowed to borrow as much as 90 per cent of a property valued at up to 220,000 euros BLOOMBERG Dublin IRELAND’S central bank scaled back plans to limit mortgages amid political pressure to aid first-time house buyers as
      BLOOMBERG; PHOTO: BLOOMBERG  -  458 words
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      Lock icon Househunt
      1210 22 Property transactions for Districts 1 to 23 with contract dates between Dec 17 and Dec 23,2014 PROJECT NAME/ STREET NAME PROP TYPE CONTRACT DATE TENURE BUILT-IN/LAND AREA*(SQ FT) PRICE (S$’000) PSF (S$) District 1 NON-LANDED Marina Bay Residences Apt 17/12/2014 99 743 1795 2417 The Sail Marina Bay Apt
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      Lock icon New York’s World Trade Center tower turns to crowdfunding
      384 22 Fundrise inviting investors to put US$5,000 into bonds backing skyscraper BLOOMBERG New York GOT US$5,000? You can invest in the 3 World Trade Center skyscraper under construction in lower Manhattan. Fundrise, a real estate crowdfunding business, is inviting individual investors to
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      386 13 W^g R ARDEN COURT London SEl Prices from £540,000* Si Ip St Paul's Cathedral 122 Leadenhall Street Bank of England 20 Fenchurch Street i Mil. i i=r I® i *a*- ARDEN COURT 40 ■IS. SIM IT' V*= ip > ifib m SfrJ'tW' -r*s HU -U«s=g?3 ■VP Wll m "S, SB
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      131 14 DEDICATEDTO CREATING A Masterpiece 4 u..-. m 'A Va m 1 m m m Hr S3 A im fee fe? at m I f? SPOTTISWOODE re. t a >5 r u 0* u? C-2H •sr; T UiH u> 5! w. m ml 'I I A AT' 1 A A i
      131 words
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      360 16 An iconic building with a coveted address, d'Pristine Corporate OFFice Tower aims to be Medini’s best corporate oFFice. jj d’pRisnriE T Lil E R GRRDE H CORPQRRTE OFFICE OFENJ for booking Kota Iskand r S| NCA.Ro^t Pmewood Studios ■p Grade A > Corporate OFFice Wi STRAITS OF JOHOR ■rr K
      360 words
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      93 18 KnightFrank.com.sg Alpine ctr Eunos Technolink Regent Ctr Ubi Ave 3 Eunos Lk Kaki Bt Rd 1 Ubi Rd 4 Kah Motors CAR SHOWROOM FOR SALE/LEASE Strategically located in the motor vehicle district of Ubi with excellent frontage to Eunos Link and Ubi Ave 3 Land Area Approx. 52,107 sqft Gross
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      258 18 RARE GINZA SITE FOR HOTEL DEVELOPMENT Address: Ginza, Chuo-ku 2 mins walk to Ginza Itchome Kyobashi Station 7 mins walk to Yurakucho Station Land Area: 2208 m 2 For Sale by Expression of Interest: Closing 26 Feb 2015 For further info and viewing, please contact: Dillon Lo9850 3204 Aiden Yong
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      159 18 FOR SALE BY TENDER Prime Freehold Site in Kuala Lumpur, Malaysia Rare Sizeable Commercial Redevelopment site in KL CBD Located at junction of Jalan Tuanku Abdul Rahman Jalan DangWangi Land area of approximately I 1,773.963 sq m 126,734 sq ft Zoned “Commercial” with permissible plot ratio 1:8 Within 600 metres
      159 words
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      155 21 BENHAMf, REEVES RESIDENTIAL LETTINGS Est. 1956 PROPERTY SPECIALISTS Benham and Reeves Residential NO Lettings is London’s largest independent property rentals company. For over 50 years we’ve been looking after properties providing a full leasing service for Landlords worldwide. From our SINGAPORE OFFICE we provide: Full leasing and property management service
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      127 21 Steinway Gallery Singapore 1 i 1 fm i a Steinway becomes a Cherished Member of The Family. Built To Last For Generations Having a Steinway enables a family to mature in music together, front the first tentative scales to the confidence that comes with time and practice. A Steinway epitomizes
      127 words
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  • BANKING & FINANCE
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      Lock icon Iraq’s Syariah-compliant banks expect growth despite strife
      568 24 Eight such lenders seek to tap a population of 36m that has one of the lowest penetrations of formal banking in Mid-East BLOOMBERG Dubai FOR all the sectarian violence gripping Iraq, Syariah-compliant banks operating in the country see opportunities for growth. Elaf Islamic
      BLOOMBERG; PHOTO: AFP  -  568 words
    • Article
      Lock icon Shadow banking crackdown seen needed to tame stocks in China
      731 24 BLOOMBERG Taipei CHINA’S clampdown on borrowing for purchases of the world’s most-vol-atile equities has missed shad-ow-banking activities that allow investors to take even greater risks. Investors have ramped up bets on rallying shares by borrowing through structures known as “umbrella
      BLOOMBERG  -  731 words
    • Article
      Lock icon Yuan now in world’s top five as payment currency
      285 24 REUTERS Hong Kong CHINA’S yuan broke into the top five as a world payment currency in November, overtaking the Canadian dollar and the Australian dollar, global transaction services organisation Swift said on Wednesday. After nearly a year firmly positioned at seventh
      REUTERS  -  285 words
    • Article
      Lock icon SNB policy shock will hit smaller Swiss pte banks most
      728 24 REUTERS Zurich AS the dust settles after Switzerland’s shock abandonment of its currency cap earlier this month, the country’s smaller private banks have emerged as possible casualties of the decision and an associated change in interest rate policy. In a
      REUTERS  -  728 words
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      Lock icon JPMorgan’s traders reaped up to US$300m amid Swiss turmoil: sources
      346 24 BLOOMBERG London JPMORGAN Chase Co’s foreign-ex-change traders reaped a gain of as much as US$300 million after the Swiss central bank roiled markets by abolishing its cap on the franc, according to two people with knowledge of the matter. The
      BLOOMBERG; PHOTO: REUTERS  -  346 words
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      272 24 In the Matter of The Companies Act, Cap. 50 And In The Matter of ALLCO SINGAPORE T3 PTE. LTD. (CO. REG. NO. *****3187C) NOTICE OF CREDITORS’ MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 296 of the Companies Act, Cap. 50, a meeting of Creditors will be held at
      272 words
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  • ENERGY & COMMODITIES
    • Article, Illustration
      Lock icon Remanufacturing gains traction in Singapore
      647 25  -  ARTC’s partnerships with industry leaders create new business opportunities for local enterprises; ARTC moves to bigger premises for role in driving growth of remanufacturing By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore REMANUFACTURING is the buzzword for the business of transforming a recovered part or product
      647 words
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      Lock icon Benalec shares up on approval for reclamation of land off Johor
      554 25  -  By Pauline Ng btworld@sph.com.sg Kuala Lumpur SHARES of Malaysian reclamation company Benalec Holdings rose 3.2 per cent to 80.5 sen apiece on Wednesday after it received approval to reclaim 1,411 hectares of land off Tanjung Piai Johor for an
      554 words
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      Lock icon Asia’s chocolate craving to rise as economies expand
      242 25 BLOOMB ERG Kuala Lumpur CHOCOLATE demand in Asia will probably rise as much as 20 per cent this year, spurred by confectionery and drinks consumption among young people, an industry group said. Demand will climb as economies expand in China, India and
      BLOOMBERG  -  242 words
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      Lock icon Oil slide to extend biggest LNG drop in 5 years
      478 25 BLOOMBERG London OIL’S slump is set to extend the biggest drop in liquefied natural gas costs in five years, spurring demand in emerging Asian economies. LNG prices in Japan, the world’s biggest buyer of the fuel, will probably plunge 3
      BLOOMBERG; PHOTO: BLOOMBERG  -  478 words
    • Article
      Lock icon Aluminium avoids slump in commodities as cars drive demand
      804 25 BLOOMBERG London AT a time when other commodities are slumping, aluminium is making a comeback as carmakers under pressure to build more fuel-efficient cars increase their use of the lightweight metal. While copper prices are down 14 per cent this year
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  • TECHNOLOGY
    • Article, Illustration
      Lock icon Yahoo announces tax-free spinoff of Alibaba stake worth US$40b
      801 26 New company holding stake will be wholly owned by Yahoo shareholders AFP New York YAHOO is spinning off its stake in Chinese Internet giant Alibaba, splitting off the valuable holdings in a move that sidesteps taxes. The strategy laid out on
      AFP; PHOTO: REUTERS  -  801 words
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      Lock icon AT&T posts net loss of US$4b in Q4
      499 26 Rate of customer defections rises to 1.22% and average revenue per phone user declines 10.7% from year earlier REUTERS San Francisco AT&T Inc on Tuesday posted a quarterly net loss that was slightly slimmer than Wall Street expected, as its mobile device
      REUTERS; PHOTO: REUTERS  -  499 words
    • Article
      Lock icon Apple shines on booming China sales
      361 26  -  REUTERS BREAKINGVIEWS By Robert Cyran REUTERS New York APPLE shined last quarter as boss Tim Cook dished up a Chinese feast. The technology giant overcame a strong dollar and stiff competition from rival Samsung in the Middle Kingdom, helping it to first-quarter iPhone sales
      REUTERS  -  361 words
    • Article
      Lock icon Ericsson expects North America slowdown as Q4 sales lag forecasts
      490 26 REUTERS Stockholm TELECOMS equipment maker Ericsson expects business in its key North American market to remain slow in the short term, with its biggest customers largely finished on building their 4G networks and saving cash for acquisitions and spectrum auctions.
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    • Article
      Lock icon Solid-state drives push up Western Digital’s Q2 profit
      298 26 REUTERS New York WESTERN Digital Corp, the world’s No. 1 hard-diskdrive maker, reported second-quarter results slightly ahead of Wall Street expectations on strong demand for its solid-state drives from enterprise customers. Shares of the company rose 3.5 per cent to US$ 101
      REUTERS  -  298 words
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  • CONSUMER
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      Lock icon Stay-at-home small caps in vogue as dollar roils multinationals
      845 27 investors take notice as less globally exposed US companies have the best start to a year since 2012 BLOOM BERG New York LIKE New Yorkers trying to avoid a blizzard, sometimes the best decision is to stay home. That may be
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    • Article
      Lock icon EU mobile phone operators get to charge roaming fees for three more years
      389 27 REUTERS Brussels MOBILE operators such as Vodafone and Orange would be allowed to continue levying roaming charges over the next three years, according to an EU document, defying European lawmakers’ proposal to scrap the fees by the
      REUTERS  -  389 words
    • Article
      Lock icon Indian vaccine maker working on a range of low-priced products
      918 27 Serum’s offerings threaten to undercut brands from the world’s biggest pharma firms BLOOMBERG Mumbai ASIA’S biggest vaccine maker is working on a string of new low-priced offerings that threaten to undercut brands from the world’s biggest pharmaceutical companies. Serum Institute
      BLOOMBERG  -  918 words
    • Article
      Lock icon Alibaba arm sets up consumer credit scoring service
      309 27 BLOOMBERG Hong Kong Alibaba Group Holding’s financial affiliate started a credit-scoring service that analyses customer behaviour to help them borrow money in China. Sesame Credit Management will provide a scoring service for consumers and small-business owners, Zhejiang Ant Small Micro Financial Services
      BLOOMBERG  -  309 words
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      90 27 4Want access to BBQ pits? If you're looking for your dream condo complete with facilities, turn to the Print Classified Properties section. To advertise, call the Print Classified Hotline: 1800-289 9988. H O T PR O PERTY BOTANIC GDN VIEW. Large 2+1 Brand New renovation. Walk to Orchard, Dempsey. $4,500.
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  • TRANSPORT
    • Article
      Lock icon Global funds buy US$288m of Indian airport notes
      896 30 Domestic funds do not have the capacity to cover the US$1 trillion that India needs over 2012-2017 to revamp creaking infrastructure to better compete with China BLOOMBERG New Delhi DELHI International Airport Ltd has tapped global funds for the first time as
      BLOOMBERG  -  896 words
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      Lock icon American Airlines shares fall 5% in fare squeeze with low-cost carriers
      647 30 BLOOMBERG Dallas AMERICAN Airlines Group shares fell the most among its US peers on Tuesday after the airline said that airfares are starting to drop as low-fare domestic rivals add seating capacity in some markets. The squeeze is showing
      BLOOMBERG; PHOTO: BLOOMBERG  -  647 words
    • Article
      Lock icon KL to release MH370 interim report in March
      169 30 REUTERS Kuala Lumpur MALAYSIA’S Department of Civil Aviation will release an interim report on the investigation into the missing Malaysia Airlines Flight MH370 on March 7, a day before the one-year anniversary of the disappearance, Deputy Transport Minister Aziz Kaprawi said on
      REUTERS  -  169 words
    • Article
      Lock icon Boeing surveillance aircraft gets Pentagon budget boost
      629 30 BLOOMBERG Washington BOEING Co’s maritime surveillance aircraft will get an increase in the Pentagon’s fiscal 2016 budget, with the Navy to request 16, one more than planned for that year, according to budget documents. The Navy will request US$3.4 billion for the plane,
      BLOOMBERG  -  629 words
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      Lock icon Cunard to cruise down memory lane
      283 30 NYT New York THIS summer, British cruise line Cunard is marking the 175 th anniversary of its inaugural trans-At-lantic voyage by recreating that Liverpool-to-Bos-ton voyage but on its modern ocean liner, the Queen Mary 2, instead of a paddleboat steamer. Historians and entertainers on
      NYT; ST FILE PHOTO  -  283 words
    • Article
      Lock icon Bombardier expects more orders after China train safety clearance
      358 30 REUTERS Beijing CANADA’S Bombardier Inc expects to receive safety certification from China for its high-speed trains as early as next month, providing a springboard for more orders, the firm’s top executive in the country said. The regulatory clearance, after years of
      REUTERS  -  358 words
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  • Article
    Lock icon THE BUSINESS TIMES SHIPPING TIMES
    987 31 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville Hyundai Highway 299E 04 Feb 28 Feb 16 Mar 19 Mar 23 Mar 25 Mar 27 Mar 30 Mar 06 Apr 08 Apr 08
    987 words
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      209 31 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 Publicise Your Del iver y
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  • OPINION
    • Article
      Lock icon Skillsave accounts will empower workers to get the training they need
      554 32 THE labour movement earlier this week injected fresh life into its push for the government to provide all Singaporean workers with their own “training accounts”, essentially a personal fund that they can tap to upgrade their skills. EDITORIAL In
      554 words
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      Lock icon The value of learning basic soft skills
      819 32  -  THE BOTTOM LINE By David Mason T The writer, a business communications consultant in the UK, was a Price Waterhouse Singapore partner for 18 years in the 1980s and 1990s THE United Kingdom is moving out of recession after several bleak years. Job
      819 words
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      Lock icon Middle-East mess plagues US agenda
      1280 32  -  Obama is likely to find himself being forced again to invest more of his time and energy on dealing with the never-ending instability in the region. BY LEON HADAR BY LEON HADAR SIX years ago when he was running for president he had made a
      PHOTO: REUTERS  -  1,280 words
    • Article
      Lock icon Leave a mark – with impact investing
      864 33  - Leave a mark with impact investing Impact investing is not going to replace government or be a panacea, but it’s one of a number of new tools to address social problems... Right now social capitalism is a more creative and dynamic place to spend a life. COMMENTARY By David Brooks
      NYT  -  864 words
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      Lock icon IMF decision could propel yuan past sterling and yen
      1126 33  -  By Jukka Pihlman T The writer is managing director and head of central banks and sovereign wealth funds at Standard Chartered Bank. He previously worked for the IMF and the central banks of New Zealand and Finland. THE Chinese currency’s path
      1,126 words
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      Lock icon OVERCOMING SYNERGY ODDS IN AN M&A DEAL
      1109 33  -  A key reason for disappointing deal outcomes is overestimation, which is caused by a lack of clear understanding of the level of synergies merging companies can expect through increased scale. BY LAURA MILES, ADAM BORCHERT, ALEXANDRA EGAN RAMANATHAN AND SUVIR VARMA BY LAURA
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  • LIFE & CULTURE
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      Lock icon A Chanel for all seasons
      701 34 Being led down the garden path is no bad thing at the label’s spring-summer collection show NYT Paris AS the fashion crowd gathered at the Grand Palais on Tuesday morning, snowstorms were pummelling the Eastern Seaboard of the United States, closing airports and wreaking international
      NYT; PHOTOS: AFP  -  701 words
    • Article
      Lock icon Obese Indians turn to bariatric surgery for a quick fix
      683 34 WP New Delhi THESE days, real estate developer Prateek Sawhney ignores junk mail from plus-size stores. Instead, he shows off his slim physique with designer duds while sporting around New Delhi in a shiny green BMW. Mr Sawhney, 49, said
      WP  -  683 words
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      Lock icon Remembering one of history’s biggest horrors
      938 34 NYT Warsaw, Poland MORE than 3,000 guests, including Holocaust survivors and foreign dignitaries, gathered on Tuesday at a site marking one of history’s biggest horrors, the Ausch-witz-Birkenau death camps in southern Poland, which were liberated by Soviet troops 70 years ago in closing months
      NYT; PHOTO: REUTERS  -  938 words
  • Page 34 Miscellaneous
    • Miscellaneous
      Lock icon Page 34 Miscellaneous Column 1
      337 34 CRYPTIC CROSSWORD Across 1 Hotel employee that’s more to the left? (6) 4 During which there’s the prospect of hidden riches? (4,4) 8 Lots of dogs failing to start (6) 9 I’m repelled by staff in bed in secret photo (8) 10 Stride out, catching dancer’s skirt half torn off
      337 words