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BUSINESS TIMES, 2 May 2007

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Masthead [TITLE SECTION]

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THE BUSINESS TIMES SINGAPORE 85 cents online at http://business-times.asia 1 .com.sg A SINGAPORE PRESS HOLDINGS PUBLICATION MICA (P) 202/12/2006 Wednesday, May 2,2007

Narrow pay scale to help seniors keep jobs: PM [ARTICLE]

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Narrow pay scale to help seniors keep jobs: PM Maximum to minimum salary ratio could be brought down to 1.5 By MATTHEW PHAN [SINGAPORE] People doing similar jobs should expect to be paid similarly, Prime Minister Lee Hsien Loong said yesterday at the National Trades Union Congress May Day Rally.

S'pore's digital media industry gathers steam [ARTICLE + ILLUSTRATION]

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S'pore's digital media industry gathers steam More foreign firms may add to growth of local companies By ROLAND LIM [SINGAPORE] From being a big consumer of digital media from animated films and computer games to music Singapore is about to turn into a big producer too. A dozen more foreign

News Corp offers US$5b to buy Dow Jones [ARTICLE]

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News Corp offers US$5b to buy Dow Jones Reuters Bloomberg [NEW YORK] Dow Jones Co, owner of the Wall Street Journal, said Rupert Murdoch's News Corp made an unsolicited offer to buy the company for about US$5 billion. Dow Jones board and trustees of the Bancroft family, who hold the

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CORPORATE EARNINGS TheQl scorecard PAGES

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(Si FOOTBALL CLUB Thaksin makes takeover proposal to Manchester City page 3 XXXXX11 l 8 "XXXXX1 XXXXX4 M«rfc«tf Dlgtft Ptflt 3 Wong Partnership to set up office in Qatar by June page 2

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EXEC MONEY How to structure a retirement portfolio PAGE 28 BUILDING BOOM rooms in \fegas .1 I Invenit rt Fecit invented and made Hie motto of a contemporary watchmaker building his own history. |yjr« BET] l^Lr^ IriyenHeifecH T ■m JMr IS Bit'- urn *^V H I Urn '<& AyMr W

TOP STORIES

Wong Partnership to set up office in Qatar by June [ARTICLE + ILLUSTRATION]

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Wong Partnership to set up office in Qatar by June It'll be first S'pore law firm with presence in the Middle East country By WEE LI-EN [SINGAPORE] Wong Partnership will be the first Singapore law firm to have a presence in Qatar it received its licence this week to operate

THREE-MINUTE DIGEST [ARTICLE]

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THREE-MINUTE DIGEST Thaksin makes bid for Manchester City FORMER Thai prime minister Thaksin Shinawatra has made a takeover proposal to soccer club Manchester City, which is seeking fresh investment to better compete with rivals in the English premier league. Dr Thaksin's advisers will examine the club's accounts before reporting back

M'sian doctors want to be rid of pain in the neck [ARTICLE + ILLUSTRATION]

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M'sian doctors want to be rid of pain in the neck Wearing neckties a health risk to patients, they say AP [KUALA LUMPUR] Malaysian doctors want to be free of encumbrances around their necks. Not their stethoscopes, but neckties. The Malaysian Medical Association (MMA) has asked the Health Ministry to

Thaksin makes bid for Manchester City [ARTICLE + ILLUSTRATION]

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Thaksin makes bid for Manchester City Accountants to complete due diligence; offer may be worth £100m Reuters AFP Bloomberg [LONDON] Former Thai prime minister Thaksin Shinawatra has made a takeover proposal to soccer ciub Manchester City, which is seeking fresh investment to better compete with rivals in the English premier

MARKETS DIGEST [ARTICLE]

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MARKETS DIGEST BT ONLINE BT print subscribers get free access to the Business Times Online. To activate your account, log on to http://business-times. asial .com.sg. For more information, e-mail btocs@sph.com.sg or call 6388-3838. MARKETS Tuesday Change KLCOMP dosed r NIKKEI 225 17.XXXXX -125.43 HANGSENG SET INDEX Closed r JAKARTACOVP 2,001.18

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Hunting season has begun. STSJLSS. Financial Reporting Update 5 Raffles Ave, Marina Square f f h B, room Two years on (Registration begins at 8:30 am) The road ahead Registration/enquiries Tfel K (65?6309 6954 Tw re P° rtin 8 seasons have passed since 2005, when many changes Fax: (65) 6532

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JK j fl k'IV'JHHA OR wyl &Bm /< f If^Bl' "BE^ H B| Hg WP I HH 'K v K Vie% J», Bv 1 B*p R s Jf. i frwJ Eki g* |^1 f"®Bbdl ■ißfiuH I I'- Mfflff ifll B r HI BIBBB^^^^SSb START A FEW HEARTS RACING. This is

COMPANY NEWS

Will Swissco make the 8th a lucky day? [ARTICLE]

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Will Swissco make the 8th a lucky day? HOCK LOCK SIEW By VEN SREENIVASAN People who look to numerology for their fortunes generally believe that "8" is a lucky number. Many spend thousands of dollars ensuring that they are associated with this numeral, be it for car registration plates, properties

MapletreeLog in HK$780m HK property deal [ARTICLE]

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MapletreeLog in HK$780m HK property deal MAPLETREE Logistics Trust has signed a conditional deal to buy a Hong Kong commercial property for about HK$7BO million, orSslsl million. The acquisition, which is expected to be completed by June next year, is yield-accretive and has a pro forma effect on MapletreeLog's distribution

Singapore's Reit sector has room to grow: UBS [ARTICLE + ILLUSTRATION]

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Singapore's Reit sector has room to grow: UBS Reit listings here expected to rise in next 12 months By MATTHEW PHAN IF you think Singapore's real estate investment trust (Reit) sector has reached its full potential, think again. Though the'local market can rightly claim to be Asia's most developed, it

Amara's first resort project opens on Sentosa [ARTICLE]

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Amara's first resort project opens on Sentosa By JANICE HENG AMARA Holdings softlaunched its first resort development, Amara Sanctuary Resort, in Sentosa this week. Although Amara Sanctuary is located next to Genting International's Resorts World, Amara's chief executive officer Albert Teo says that the company does not fear competition from

Good Q1 showing from property firms, Reits [ARTICLE]

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Good Q1 showing from property firms, Reits Not all China firms shine; IT firms hit by chip, handphone price slump By SIOW LI SEN PROPERTY companies and real estate investment trusts (Reits), among the early birds to report first quarter 2007 earnings, have done very well amid strong demand. China

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SINGAPORE'S MOST MODERN SPECIALIST CLINICS. J. f \V. J -Si. As the center for Singapore's newest state-of-the-art specialist clinics, Novena Medical Center offers doctors a rare opportunity to own a medical suite with great supporting infrastructure. BE A PART OF SINGAPORE'S EXPANDING HEALTHCARE SECTOR As a regional medical hub, Singapore

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Eclipse: noun 7. Falling into obscurity or decline, 2. (To be greater or better than) top, best, exceed, excel, outdo, transcend, surpass, outstrip, overshadow, outshine. Innovate or be eclipsed. Step into IBM's world of innovation. For 13 years running, IBM has been the company with the most U.S. patents. Innovation

SINGAPORE NEWS

Banking on fast-growing wealth of Indians [ARTICLE + ILLUSTRATION]

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Banking on fast-growing wealth of Indians SG Private Banking to boost its global India business By NANDE KHIN THE rise of wealthy Indians means big business for SG Private Banking. The private wealth management arm of the Societe Generale (SG) group expects its global Indian business which is headquartered in

IPS could join LKY School of Public Policy [ARTICLE]

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IPS could join LKY School of Public Policy Matter discussed at think-tank meeting last month, but no decision taken yet By ANNA TEO THE Institute of Policy Studies (IPS), which turns 20 this year, may mark the milestone with a major status change: it could become part of the Lee

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Chevron ■nt m CHEVRON HOUSE Q jfjp L R jKT i Aviation and Shipping L M i altauM rti Caltex Singapore Retail m W i Commercial and Asphalt Li,, I.i.ui..j I Gas and New Power Generation Human Resources and Administration j Refining j Supply and Trading J '"—win! MWI" 'ii

MALAYSIA/INDONESIA

Malaysia's Tenaga quits Indonesia coal business [ARTICLE]

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Malaysia's Tenaga quits Indonesia coal business Reuters [KUALA LUMPUR] Malaysia's dominant power firm, Tenaga Nasional Bhd, has agreed to sell its Indonesian coal mine, marking its departure from the coal-min-ing sector in the neighbouring country, the firm said on Monday. Tenaga said in a statement TNB Coal International Bhd's subsidiary,

Telkomsel Q1 profit up 8% as subscribers rise [ARTICLE + ILLUSTRATION]

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Telkomsel Q1 profit up 8% as subscribers rise Net profit reaches almost 3 trillion rupiah despite competition Reuters [JAKAßTA] Indonesia's largest mobile phone operator, PT Telekomunikasi Selular Tbk (Telkomsel), reported yesterday an 8 per cent rise in first-quarter net profit, driven by a rise in subscriber numbers. Indonesia's largest telecommunications

2 Korean firms ink US$1b Indon rail deal [ARTICLE]

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2 Korean firms ink US$1b Indon rail deal AFP [JAKARTA] Two South Korean companies signed an agreement with an Indonesian state firm on Monday to build a railway line in Borneo in a deal worth US$1 billion, a report here said. South Korea's Posco and Canatect Ltd signed a memorandum

Emaar plans US$600m leisure project in Lombok [ARTICLE + ILLUSTRATION]

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Emaar plans US$600m leisure project in Lombok JV with Jakarta on 1,200-ha site will have homes, hotels Reuters Bloomberg [DUBAI] Emaar Properties, the largest Arab real estate developer by market value, said on Monday it plans to develop a leisure and residential project in Indonesia at cost of US$6OO million.

M'sian workers urged to be more competitive [ARTICLE]

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M'sian workers urged to be more competitive AFP [KUALA LUMPUR] Malaysian Prime Minister Abdullah Ahmad Badawi yesterday urged the country's workforce to be more competitive and move towards a knowledge-based economy, in comments marking May Day. Mr Abdullah said Malaysia's ability to compete in the face of increasing regional competition

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FOR SALE BY TENDER FAIRWAYS g Freehold Land, approx. 13,613.3 sq m Plot ratio 2.1, up to 24 storeys v wbject Possible to amalgamate state land rSff Close proximity to Vivo City Sentosa IR OoWLWcs Opposite Keppel Golf Club new MRT V*** ""n® -1 80% owner's consensus obtained Labrador pHBBE

FOCUS: ACCOUNTING METHODS

Gain on sale method returns to haunt lender [ARTICLE + ILLUSTRATION]

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Gain on sale method returns to haunt lender New Century may have used gain on sale to hide losses as the subprime market faltered, say analysts By LYNNLEY BROWNING NYT IN the spring of 1998, the chief financial officer of New Century Financial, a lender to home buyers with blemished

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FOCUS: CONSTRUCTION

It's never too many hotel rooms in Las Vegas [ARTICLE + ILLUSTRATION]

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It's never too many hotel rooms in Las Vegas With 151,000 rooms and still counting, America's gambling capital is in the midst of another big building boom By GARY RIVLIN NYT STEPHEN Wynn, the hotel and gambling impresario, still remembers the first time he was asked if he and other

GREATER CHINA

So what if his paintings change hands for millions? [ARTICLE + ILLUSTRATION]

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So what if his paintings change hands for millions? Top Chinese artist just wants his work kept, appreciated AFP [BEIJING] The soaring demand and skyrocketing prices for Chinese art on world markets have caught many observers flat-footed, none more so than the man at the centre of the phenomenon. "I

Shanghai bourse wooing HSBC for a listing: report [ARTICLE]

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Shanghai bourse wooing HSBC for a listing: report Reuters [SINGAPORE] The Shanghai stock exchange is in talks with HSBC and other high-profile foreign firms to list their shares in mainland China, as part of its strategy to revive the recently moribund bourse, The Financial Times reported yesterday. The exchange has

Macau running out of space for housing [ARTICLE]

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Macau running out of space for housing Growth in casino sector attracting property investors AFP [MACAU] The Manhattan, a high-rise complex a stone's throw from Macau's glitzy new casino district, is something of a rarity as it prepares to throw open its doors to well-heeled residents this month. For a

Alibaba.com said to be planning public offering [ARTICLE]

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Alibaba.com said to be planning public offering It could be biggest IPO for a Chinese Net company, valuing it at over US$4b NYT [SHANGHAI] Alibaba.com, China's leading e-commerce company, is planning to go public later this year in what could be the biggest initial public offering ever for a Chinese

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and benefits BANK OF CHINA < "<>NO kono Based in Hong Kong Bank of China (Hong Kong) is a leading commercial banking group in Hong Kong in terms of assets and customer deposits. With approximately 290 jH branches, more than 400 ATMs and other delivery channels in Hong Kong. BOCHK

ECONOMY WATCH

US cites China, Russia over copyright piracy [ARTICLE]

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US cites China, Russia over copyright piracy AFP [WASHINGTON] China and Russia are among the worst global offenders in failing to crack down on rampant piracy of US patents and copyrights, an annual US government report charged on Monday. The annual scorecard, known as the Special 301 report for the

Japan to tighten hedge fund monitoring [ARTICLE]

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Japan to tighten hedge fund monitoring Yen 'carry trades' and other activities seen as potentially destabilising By ANTHONY ROWLEY in Tokyo JAPAN'S Financial Services Agency (FSA) said yesterday that it will tighten monitoring of hedge funds operating in the country, in response to growing concerns that their activities could destabilise

Venezuela to quit IMF, World Bank: Chavez [ARTICLE + ILLUSTRATION]

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Venezuela to quit IMF, World Bank: Chavez Reuters Bloomberg (CARACAS] Venezuela will withdraw from the Wash-ington-based lending organisations, the International Monetary Fund (IMF) and the World Bank, in a symbolic move that distances leftist President Hugo Chavez from much of the international economic community. Mr Chavez, who plans to create

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INDIA

Indian retail sector revenue projected to hit US$430b a year [ARTICLE]

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Indian retail sector revenue projected to hit US$430b a year US$30b investment likely in 5-7 years as foreign giants enter the market: report By By SIDDHARTH SRIVASTAVA in New Delhi SHOPPING in India is galloping into the 21st century and is likely to generate US$43O billion a year up from

End of the road near for India's Grand Old Lady [ARTICLE + ILLUSTRATION]

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End of the road near for India's Grand Old Lady Reuters [MUMBAI] Ajay Arora has dreafmed of owning an Ambassador car ever since he backed his father's into the garage wall when he was eight years old. Earlier this month, Mr Arora bought one of his own, white like the

Indian pension fund assets up 7% [ARTICLE]

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Indian pension fund assets up 7% Bloomberg [NEW DELHI] The Employees' Provident Fund Organisation, India's biggest pension fund, posted a 7 per cent increase in assets in the nine months ended Dec 31, 2006, Labour Minister Oscar Fernandes said. Assets managed by the pension fund rose to 967.7 billion rupees

Syariah index could see flood of Islamic funds [ARTICLE]

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Syariah index could see flood of Islamic funds Great scope for Syariah-compliant investments: study Economic Times [MUMBAI] The Indian stock market may have been likened to a casino and a den of vice by some, but Shariq Nisar begs to differ. According to Mr Nisar, an economist and expert in

Foreign fund raising now tougher in India [ARTICLE]

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Foreign fund raising now tougher in India Government checks preference shares route [NEW DELHI] India's Finance Ministry yesterday clamped down on India Inc's plans for raising foreign money through preference shares, according to a Business Standard report. The Department of Economic Affairs announced that beginning May 1, all foreign investment

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j) IN THE MATTER OF THE COMPANIES ACT, CAP. 50 PURSUANT TO SECTION 290(2)|b) and IN THE MATTER OF GEORGE'S STEAK A RIBS PTE. LTD. (Company No: XXXXX1601R) (In Members' Voluntary Winding Up) By way of Shor»KoJd«n Written Resolution dated 30th April 2007 the Sp#ciol Resolutions set out below war*

MIDDLE EAST

Supply security will be focus of Gulf-Asia oil talks [ARTICLE]

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Supply security will be focus of Gulf-Asia oil talks Asian ministers may also ask Opec to reverse output cuts to help lower prices Reuters [DUBAI] Saudi Arabia and other Gulf producers will seek to reassure Asian consumers over supply when they meet today for informal talks just days after Riyadh

Dubai firm to buy packaging maker Mauser [ARTICLE]

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Dubai firm to buy packaging maker Mauser Bloomberg [Dubai] Dubai International Capital, a buyout company owned by the emirate's ruling sheikh, agreed to buy Mauser from a unit of JPMorgan Chase Co to gain a European packaging maker that plans to expand into Asia. The sale values Mauser at 850

Dubai to get Universal theme park [ARTICLE + ILLUSTRATION]

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Dubai to get Universal theme park LATWP [DUBAI] This Westernfriendly tourism boomtown is building its own version of a Hollywood backlot using a familiar name. Tatweer, a United Arab Emirates developer, announced plans to develop a US$2.2 billion theme park called "Universal City Dubailand" under a licensing agreement with NBC

Canada's Alcan plans US$7b Saudi aluminium project [ARTICLE]

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Canada's Alcan plans US$7b Saudi aluminium project Saudi mining firm Ma'aden will hold 51% stake in JV Reuters [MONTREAL] Canada's Alcan will develop a US$7 billion project to build, with Saudi Arabian mining company Ma'aden, what would be one of the largest integrated aluminium-making operations in the world. Alcan, the

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PT BERLIAN LAJU TANKER Tbk ®t, (The "Company") Domiciled in Jakarta, Indonesia Business Line: Seaborne Transportation Services Head Office: Wisma BSG, 10th Floor Jl. Abdul Muis No. 40, Jakarta XXXXX Indonesia Tel. (021) XXXXX300 Fax. (021) XXXXX390, XXXXX88 homepage: http://www.blt.co.id e-mail: investor@blt.co.id NOTICE TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

ASIA-PACIFIC/WORLD

Chinese objections may stall climate talks [ARTICLE]

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Chinese objections may stall climate talks Reuters [BANGKOK] About 1,500 amendments and objections raised by Chinese officials risk bogging down UN talks on fighting climate change, a senior delegate at the meeting here said. Scientists and government officials from more than 100 countries are reviewing a 24-page draft summary for

US puts Thailand on IPR 'priority watch list' [ARTICLE + ILLUSTRATION]

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US puts Thailand on IPR 'priority watch list' Washington cites Bangkok's move to locally license US patented drugs By OUR CORRESPONDENT in Bangkok THAILAND'S insistence on licensing locally made versions of various drugs has led to the United Staes putting the country back on its "Priority Watch List" relating to

Blair endorses Brown as Britain's next PM [ARTICLE + ILLUSTRATION]

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Blair endorses Brown as Britain's next PM [EDINBURGH] Tony Blair yesterday endorsed long-standing Finance Minister Gordon Brown as Britain's next leader and said he would announce next week when he was stepping aside as prime minister. Ten years after the landslide election win that swept Labour to power, Mr Blair

BP CEO quits over paper's move to report gay affair [ARTICLE + ILLUSTRATION]

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BP CEO quits over paper's move to report gay affair AFP AP [LONDON] John Browne, chief executive of British energy giant BP, unexpectedly resigned yesterday after a newspaper group won a legal battle to publish details of his relationship with another man. Mr Browne (right) had been due to retire

US pending home resales index hits four-year low [ARTICLE]

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US pending home resales index hits four-year low March data signals property slump may persist Bloomberg Reuters AP [WASHINGTON! An index of pending sales of existing homes in the US unexpectedly fell to the lowest level in four years in March, signalling the real-estate slump may linger as prospective buyers

Pricing pressure weighs on global chip market [ARTICLE]

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Pricing pressure weighs on global chip market Reuters [SAN FRANCISCO] Global microchip sales rose one per cent in March, reversing three straight months of declines but coming up short of expectations for the year so far due to falling prices, the Semiconductor Industry Association said on Monday. March sales were

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CATS NOTICES THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF MKC INVESTMENT PTE LTD CO REG NO: XXXXX0838 C MEMBERS' VOLUNTARY WINDING UP At an Extraordinary General Meeting of MKC Investment Pie ltd convened and held at 4 Nim Drive Singapore XXXXX8 on 25 April 2007, the following

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n^TiTi Lianhe Zaobao m I impact I I I I on I I S'pore flrms I with I I businesses I I there I I *■«—M¥ I I ifiinttEfcjlkttra&tf? I

WORLD

SIMPLY GOTTA HAVE THAT DRESS [ARTICLE + ILLUSTRATION]

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SIMPLY GOTTA HAVE THAT DRESS [LONDON] British supermodel Kate Moss (right) wearing a creation from her new clothing range in a window of the Topshop store in Oxford Street on Monday. Her first Kate Moss Topshop fashion collection was officially launched at billionaire Philip Green's 225 UK Topshop stores yesterday.

Deutsche Boerse's US deal puts pressure on NYSE, Nasdaq [ARTICLE]

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Deutsche Boerse's US deal puts pressure on NYSE, Nasdaq German bourse seals US$2.8b deal with 2nd-largest US options exchange AP [NEW YORK] With stock options trading now one of the world's fastest growing markets, Deutsche Boerse's pact to buy International Securities Exchange Holdings (ISE) for US$2.B billion could lead to

Hostile takeovers pose risks: Bundesbank [ARTICLE]

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Hostile takeovers pose risks: Bundesbank Unfriendly bids could create problems for financial stability: official Reuters [FRANKFURT] A hostile takeover of a major German bank would pose potential dangers for financial stability, the Deutsche Bundesbank's top official responsible for banking supervision said. Edgar Meister, who stepped down from the Bundesbank's board

Bank seeks details of offer by Royal Bank-led group [ARTICLE]

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Bank seeks details of offer by Royal Bank-led group TAKEOVER OF ABN AMRO Bloomberg Reuters [AMSTERDAM] ABN Amro Holding has asked a group led by Royal Bank of Scotland Group (RBS) for details on its proposed offer for the largest Dutch bank. Royal Bank, Santander Central Hispano and Fortis said

Eni to buy Dominion's Mexico Gulf oilfields for US$4.8b [ARTICLE]

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Eni to buy Dominion's Mexico Gulf oilfields for US$4.8b Bloomberg [ROME] Italy's largest oil company Eni has agreed to buy Dominion Resources' exploration and production properties in the Gulf of Mexico for US$4.B billion. The purchase will boost Eni's production in the Gulf to 110,000 barrels of oil equivalent a

Two giants vie for a bank in Chicago [ARTICLE + ILLUSTRATION]

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Two giants vie for a bank in Chicago Bank of America, RBS want LaSalle to grow in US Midwest NYT [NEW YORK] Like deep-dish pizza, the Cubs and a mayor named Daley, LaSalle Bank has long been a Chicago institution. But until a few weeks ago, few would have called

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MOTORING

Mercedes hopes to sprint to top of sales chart [ARTICLE + ILLUSTRATION]

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Mercedes hopes to sprint to top of sales chart New Sprinter van to be launched tomorrow is exceptionally versatile. SAMUEL EE reports SAMUEL EE SALES of the Merce-des-Benz Sprinter are expected to treble following the launch tomorrow of a new model with a wider range of variants. The new Sprinter

Mainland marques appeal to different budget buyers [ARTICLE + ILLUSTRATION]

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Mainland marques appeal to different budget buyers By SAMUEL EE TWO China car brands is enough for Singapore and the group behind the Chery and Hafei marques here says it will look towards Europe next if the opportunity to expand its business arises. Last July, Vertex Automobile Pte Ltd launched

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Of course, you can go on to buy a bigger SUV. But would tnfet b correct? With the Terios 1.5 L Crossover, j|Bp you can be more socially responsible. Up till now, most SUVs are large, thirsty behemoths that Pfrjl^TißT|Y|^ seldom leave the paved roads. They give their drivers extra

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AVIATION/SHIPPING

US, EU sign agreement easing air travel barriers [ARTICLE + ILLUSTRATION]

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US, EU sign agreement easing air travel barriers Airlines can now fly from any EU city to any US city, and vice versa Reuters [WASHINGTON] The United States and the European Union signed a landmark air services agreement on Monday, opening up transatlantic markets to more competition beginning next year.

Caribbean oil tanker rates advance on fewer vessels [ARTICLE]

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Caribbean oil tanker rates advance on fewer vessels Bloomberg [NEW YORK] Rates to transport crude oil in the Caribbean basin rose on fewer available ships following two days of no change last week. Bruce Kahler, a shipbroker at Lone Star, RS Platou in Houston, said on April 27 that there

US airline Delta emerges from bankruptcy [ARTICLE]

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US airline Delta emerges from bankruptcy AFP [ATLANTA] Delta Air Lines said on Monday that it has emerged from bankruptcy protection, after a 19month reorganisation to help get past the long crisis in the US airline industry. "This is a great day in Delta's history a day that would not

Arpeni allots US$350m for fleet expansion [ARTICLE]

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Arpeni allots US$350m for fleet expansion Indonesia's largest coal transporter banks on increase in power plants Bloomberg [JAKARTA] PT Arpeni Pratama Ocean Line, Indonesia's largest coal transporter, plans to spend as much as US$35O million to buy ships, as construction of power plants boosts demand for the fuel in South-east

TPG budgets 5b euros for Alitalia [ARTICLE + ILLUSTRATION]

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TPG budgets 5b euros for Alitalia Reuters [ROME] Texas Pacific Group (TPG) and partners have earmarked 5 billion euros (5510.4 billion) to buy Alitalia, Italian newspaper La Stampa reported on Monday while Russia reiterated support for a rival bid from Aeroflot. The newspaper reported on Monday that TPG and its

Ship supply seen hitting container shipping rates [ARTICLE]

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Ship supply seen hitting container shipping rates Reuters [HOUSTON] The container shipping sector is expected to face strong challenges in the next two to three years as ship supply overwhelms demand, the head of the world's second-largest container shipping company said on Monday. "Shipping rates are pressured by the high

AIRCRAFT ARRIVALS AND DEPARTURES [ARTICLE]

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AIRCRAFT ARRIVALS AND DEPARTURES cm HMIT IT* MH If »-»m 51H5B noo TO 88 TO Bii XXXXX 0740 ammm jg__ n n |i 31"" HI i 'S L kngkok J j j ■ara»l»— ■WM* asr ~M 1388 '"KH~8li H!l "OT I® mm mm MfiM* mi SU S.p CotwnhMcn XXXXX 0510

Security project opened in Karachi port for exports to US [ARTICLE]

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Security project opened in Karachi port for exports to US Reuters [KARACHI] Pakistan on Monday inaugurated a new container security project for exports to the United States, which officials said would reduce the risk of terrorism and increase the flow of trade between the two countries. They said the International

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Page 18 Miscellaneous

Page 18 Miscellaneous Column 1 [MISCELLANEOUS]

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CRYPTIC CROSSWORD plenty (4) jU DOWN 1 Eleven, being free, take in 1C ing the dough (12) Across: 1 Piscina sBy turns 9ln work and mate a packet (8) 5 A trial spin? (5) black and whites 10 Twin 11 An)Piit i in with thp flow) <;hon Soft cr Y

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SOUTH EAST ASIA AND SOUTH ASIA AUSTRALIA TRADE FACILITATION AGREEMENT NOTICE TO TRADE BUNKER ADJUSTMENT FACTOR (BAF) Arising from the regular review of bunker prices, the following Lines in the South East Asia and South Asia Australia Trade Facilitation Agreement wish to inform the trade that with effect from 1

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EDITORIAL & OPINION

Abe's diplomatic stance [ARTICLE]

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Abe's diplomatic stance EDITORIAL DIPLOMACY seems to have taken on new importance for Japan under Prime Minister Shinzo Abe and it is in this arena, rather than in domestic politics, that he is demonstrating leadership. Mr Abe has made relationship-boosting overtures towards China and South Korea and alliance-boosting efforts in

Offshore oil production is on a slow boat for Asia [ARTICLE + ILLUSTRATION]

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Offshore oil production is on a slow boat for Asia Decades-old maritime border disputes in the region stand in the way of energy exploration By NEIL CHATTERJEE HIGH oil prices and dwindling output may not be enough to get Asian governments to resolve decades-old maritime border disputes any time soon.

Derivatives trade: hard to prepare for the unexpected [ARTICLE + ILLUSTRATION]

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Derivatives trade: hard to prepare for the unexpected THE BOTTOM LINE NEIL BEHRMANN London Correspondent FOUR years ago, Warren Buffett warned that the surge in derivatives trade was an investment "time bomb". Despite his warnings, the derivatives market has exploded. Several scares, including the hedge fund Amaranth's losses of almost

How to land economic success [ARTICLE + ILLUSTRATION]

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How to land economic success It has less to do with fertile plantations and rich mineral resources, and more to do with investing in human capital By TONY PUA AS AN economics enthusiast, I've often been asked: "What determines the size of an economy?" Is it dependent on rubber and

Big US mining firms are becoming socially conscious [ARTICLE + ILLUSTRATION]

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Big US mining firms are becoming socially conscious By STEVE JAMES Reuters TWO US mining giants won battles over their reputations recently in the industry's balancing act between profits and sensitivity to the environment and communities in developing countries. Newmont Mining Corp and a senior executive were acquitted of criminal

FINANCE & COMMODITIES [ARTICLE]

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FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local curr In SS In USS %dy Syr dy yr *dy *yr Apr 30 lnd«x Chang« Change Change Change Change Change World Index Preliminary 1161.0 0.0 5.5 0.2 5.8 0.0 6.8 EAFE Preliminary 1167.6 0.2 5.4 0.2 6.7 0.1 7.8 Europe Prefiminaiv

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THE BUSINESS TIMES SHIPPING TIMES

THE BUSINESS TIMES SHIPPING GUIDE EXPORT [ARTICLE]

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UK CONTINENT SERVICE U.S.A SERVICE Destination Destination YORDAN LUTIBRODSK RDM/ATW/BMN/TIB/NAN AURORA SAPPHIRE CAM/NFK/NCX/SAV Loads Singapore, E./W. Malaysia, Indonesia Loads E./W. Malaysia, Indonesia MIPPLE-EAST SERVICE F.EJS.E.A. SERVICE Destination Destination VOYAGER V DBI/ABU/DOH/BRN/DMM/KWT STXPO TBN INC/BSN PAN VOYAGER DBI/ABU/DOH/BRN/DMM/KWT PAN BRIGHT JDH/BJA Loads Singapore, E./W. Malaysia, Indonesia 1 Loads E. Malaysia, Indonesia

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EXECUTIVE MONEY

Sometimes, you just have to carry them [ARTICLE + ILLUSTRATION]

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Sometimes, you just have to carry them MONEY MATTERS Portfolios need sufficiently different elements that are able to keep the ball in play when the going is tough PHILIPPA HUCKLE VOLATILITY is similar to bouncing on a trampoline to get higher into the air, you need to jump harder forcing

It's disinflation, not rising prices, that looms ahead [ARTICLE]

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It's disinflation, not rising prices, that looms ahead As the world continues to see strong output growth and while global supply increases just as rapidly, risk is turning towards the prospect of prices falling, writes TONY DOLPHIN TONY DOLPHIN THE world economy is experiencing an extraordinary spell of strong output

All the better to retire with [ARTICLE + ILLUSTRATION]

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All the better to retire with Two financial advisers work on structuring portfolios for retirement, and the results involve more risk than you might think. GENEVIEVE CUA reports GENEVIEVE CUA Managing your funds in retirement should be a breeze, right? After all, there should be less drain on your expenses

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MONEY MATTERS Sometimes, you just have to carry them PG27