The Business Times, 21 November 1977
1977-11-21
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The Business Times
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Title Section10 1977-11-21 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, NOVEMBER 21, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article113 1977-11-21 1 Reuter JERUSALEM, Sun. Egyptian President Anwar Sadat, making a momentous appearance before the Israeli Parliament (Knesset) In Jerusalem, said today he had come to Israel to try to work out a permanent peace based on Justice. "I have not come to sign a separate peace I haveReuter - 113 words
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Article60 1977-11-21 1 AP LONDON, Sun. An ancient Greek statue was secretly sold last week to an American museum for US$5 million (Ssl2 million) in what is believed to be the most expensive art deal anywhere, the Sunday Times newspaper reported. The statue is believed to be the only existingAP - 60 words
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Article71 1977-11-21 1 Reuter JAKARTA, Sun. Indonesia, Malaysia and Singapore will hold a meeting next month to discuss the implementation of new navigational safety regulations for the Malacca Straits, Antara news agency reported today. The new regulations will be put into effect early next year in line with an agreement reachedReuter - 71 words
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Article56 1977-11-21 1 AP WASHINGTON, Sun. The Soviet Union has bought an additional 250,000 tonnes of US wheat, raising to more than 1.6 million tonnes of wheat and corn it has purchased to date. Agriculture Department said the Soviets have bought about 350,000 tonnes of wheat and 1.25 million tonnesAP - 56 words
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Article59 1977-11-21 1 AFP JERUSALEM. Sun. Controversial financier and Knesset (Parliament) member Samuel Flatto-Sharon yesterday became the first Israeli to open a bank account in Cairo, Israeli television reported. Mr. Flatto-Sharon successfully ran for the Knesset last May to gain parliamentary immunity and avoid extradition to his native France, whereAFP - 59 words
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Article55 1977-11-21 1 AFP TAIPEH, Sun. Taiwan's Sampo Corp has decided to set up an assembly plant in the United States for production of Bcm and 48cm black-and-white and colour television sets, a local report said. This will be the first assembly plant ever to be established in the US byAFP - 55 words
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Article54 1977-11-21 1 Reuter WASHINGTON, Sun. US manufacturers and merchants increased their inventories by US$2.l billion (555.04 billion) in September to a seasonally adjusted $328.99 billion. Inventories grew by $2.1 billion in August. Total business sales, were down $89 million less than 0.1 per cent to $233.52 billion for September, theReuter - 54 words
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Article66 1977-11-21 1 AFP. NEW DELHI, Sun. A combined delegation of dealers from Singapore, Malaysia and Indonesia is now in India exploring imports of motorcar spare parts from this country In bulk. They hoped to do 20 million rupees (Ss4.B million) worth of business in 1978. They noted that IndianAFP. - 66 words
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Article54 1977-11-21 1 Reuter. MANILA Sun. Central Bank governor Gregorio Licaros has predicted the Philippine balance of payments surplus for 1977 could reach USS2OO million (Ss4BB million). This would be a reversal of e rl l P r °J ected deficit of $200 million as a S Reuter rlces of maReuter. - 54 words
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Article113 1977-11-21 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of unite, closing prices on Friday and the high and low for 1977. Company Turnover Prices High Low 000 Nov 18 1977113 words
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LOCAL STOCK INDICES
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Article68 1977-11-21 1 No* 14 Nov 15 Nov It Nov 17 Not 18 BT Index: Industrials: 450.22 282.55 451.61 263.73 461.52 263.84 477.10 264.94 474.22 265.92 421.01 177.67 169.48 143.85 416 02 241.90 234.72 Finance: 420.44 421.29 421.86 421.29 Hotels: Properties: Tins: rubbers: 175.31 166.83 146.34 405.90 176.02 167.34 144.06 403.14 177.3768 words
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Article78 1977-11-21 1 Nov 14 Nov 15 Nov i« Nov 17 Nov 18 tt t t$ BT Index Industrials: Finance: Hotels: Properties: Tins: rubbers: 541.35 289.01 364.37 177.81 153.97 146.46 356.79 543.80 289.29 364.69 178.13 154.69 145.77 357.00 550.55 290.25 365.10 178.36 155.21 145.27 357.05 571.04 291.22 365.73 178.91 157.48 144.97 357.3178 words
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Article, Illustration1511 1977-11-21 1 RONNIE LIM - SINGAPORE'S ELECTRONICS INDUSTRY Br RONNIE LIM SINGAPORE'S electronics industrv will need proportionately larger numbers of skilled workers than lowskill operatives on the assembly line over the next two years. But manufacturers' projections of overall Increase in manpower demand seem to be based on a more1,511 words
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Article185 1977-11-21 1 BRUSSELS, Sun. With a slower growth in the United States, the world economy is "singularly lacking in vitality," the European Common Market reports, and little Improvement Is to be expected in 1978. Economic growth for all industrialised countries, including the Common Market members, is expected to185 words
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Article631 1977-11-21 1 THE entry of the Central Provident Fund (CPF) as a trader will give a shot in the arm to the sluggish market for Singapore Government bonds. This news is the answer at last to many a bond market participant's fervent prayer, frequently expressed throughout631 words
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426 1977-11-21 1 THE PANDAN Valley Condominium, to be completed in March next year, will be a test case to determine whether condominium housing will fit into the Singapore lifestyle. Developers have said often enough, and with some justifications that condominium living is a brand new way426 words
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234 1977-11-21 1 A 16-MEMBER Singapore mission, led by Mr. N( Chon Choo, senior assistant director in the Trade Department leaves for West Africa today on a three-week trade promotion tour. The mission, comprising two government officials and 14 businessmen and manufacturers, will visit Nigeria234 words
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651 1977-11-21 1 SOH TIANG KENG - BY SOH TIANG KENG IT IS almost certain Singapore's four discount houses will make their debut In the Asian dollar market within six months. These houses will break away from their domestic shell to go into the offshore market by dealing In fixed651 words
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Page 1 Advertisements
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Advertisement67 1977-11-21 1 Wiyfbong MAF A lending hand when you need it most Wayfoong Mortgage ywi nccu and Finance (Singapore) Limited It tIIOSC Shaw House. Ground Floor. 354 Orchard Road, Singapore 9. Tel: *****7. n n* '4 n INSIDE Leisure/TV ft Radio/ Local Co. New* -Pfi Crosswords —P2 Overseas Markets —P7 Leisure —P367 words
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Advertisement58 1977-11-21 1 KV-2000ES Sony's 20" (51.8 cm) New Trinitron colour tv system with 60% brighter and sharper plus instant picture make him the best colour tv system in town. warranty •24 months' cover for tree labour •24 months' cover for all parts •24 months' cover for the picture tube Setron Electronics Pte58 words
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Advertisement153 1977-11-21 1 Albert Photo For the best in pSoCESSINj photographic 2 m} BHOUBS equipment HFAO Of FICE 121 Ist Floor U'cM.i'd T *OQD Holf Sinq.ipur.t) CVi ftjrcj P ,»o S'nq.ipo'eQ Vi 371?03 3' T 3141& JAL FLIGHT 712: THE TOKYO EXPRESS NEW YORK VANCOUVER i V, t *Jf Ir ■wsan m FRANCiSCO153 words
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Article592 1977-11-21 2 IT would be no exaggeration to tag last week, "West Asia Week". We were deluged with advice, homilies and warnings a major component of which was relentless self-flagellation on how to crack the obstinate nut that the West Asian market has proved Itself to be. The trouble592 words
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REVIEWS
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1284 1977-11-21 2 HAROLD SCHONBERG - By HAROLD SCHONBERG NYT. NEW YORK: During the meeting of the Music Critics Association In New York last August, Elliott Galkln was doing a good deal of talking about musical conservatories In this country. That was only natural. Dr. Oalkln, music critic of the Baltimore Sun,NYT. - 1,284 words
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Article, Illustration896 1977-11-21 2 HANS FANTEL - By HANS FANTEL Reuter. PARIS: Stephane Grappelli is among the most unlikely of jazzmen a 70-year-old Frenchman whose violin seems far more attuned to the echoes of gypsy dances and European salon music than the blues and stomps of New Orleans. Nonetheless, in recentReuter. - 896 words
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Article952 1977-11-21 2 ANDREW HILL - By ANDREW HILL NYT NEW YORK: Recently, I rambled about the Eastern Mediterranean from Corfu to Crete, calling on several enticing ports in between. As in most such latter-day argosies, the Idea was to get away from It all; yet the trip turned out to beNYT - 952 words
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Article783 1977-11-21 3 PATRICK HUDSON; PATRICK HUDSON - Bolivia and Peru being denuded of valuable antiquities and some of the worst culprits are diplomats using their position to buy art treasures cheaply and export them to their own countries. PATRICK HUDSON reports from La Paz. PATRICK HUDSON PATRICK HUDSON FT MUSEUMS andFT - 783 words
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Article970 1977-11-21 3 SUSAN H. ANDERSON - By SUSAN H. ANDERSON MILAN: "I got bored on Seventh Avenue," he said. "I was anxious to see If my clothes meant anything Internationally. I'm not a driven businessman but a driven artist." In his flower-filled hotel suite here, Geoffrey Beene seemed a most unlikely970 words
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Article, Illustration1167 1977-11-21 3 FRANK PRIAL - By FRANK PRIAL NYT NEW YORK: A bottle of wine for two people, either at home or in a restaurant is one thing; wine for a larger dinner party is something else again. This Is the time of year when even those peopleNYT - 1,167 words
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Article381 1977-11-21 3 CRAIG CLAIBORNE - By CRAIG CLAIBORNE NYT NEW YORK: It la one man's considered opinion that there are two things better than the Thanksgiving turkey. The first Is a wellmade stuffing; the other Is the turkey, second time iround, turned Into a cold sandwich with freshly made mayonnaise.NYT - 381 words
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Article, Illustration554 1977-11-21 3 JANE LEE WHITE - By JANE LEE WHITE AP NEW YORK: To Carla Lamonte, de la Renta Is "Oscar" and Blass Is "Bill." She has climbed to the top of one of the most slippery heaps in the world to earn US$lOO an hour as a fashion modelAP - 554 words
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Page 2 Advertisements
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Advertisement40 1977-11-21 2 w x 1 vo s AN A\ SS V& >& »V t&g ar N<? s K 1 k, A. jffl BALLY OF SWITZERLAND n'ftife THE LEAOMG MENSWEAR STORE OUTFITTERS HIGH ST CENTRE*OCEAN BLK-ONG SUPREME HOUSE GOODWOOD, HILTON, RAFFLES HOTELS COLD STORAGE40 words
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Page 2 Miscellaneous
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Miscellaneous304 1977-11-21 2 RADIO SINGAPORE 5 A.M. Opening followed by Really Rosie Holiday Matinee Mark of Zorro Starring: Frank Langella, Ricardo Montalban, Gilbert Roland, Louise Sorel •All Star Swing Festival 0 P.M. Angan-angan Mat Jenin (Malay Repeat) 15 Malay Movie Si Doel Anak Betawi Starring: Rano Karno, Tutie Kirana, Benjamin S. Automation: What304 words
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Miscellaneous53 1977-11-21 2 I THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Nov 20 at Singapore airport. Maximum Temperature 30.3° C Associated Humidity 70 Minimum Temperature 22.2° C Associated Humidity 97 Hours of Sunshine 4.30 Rainfall in Millimetres trace Total Rainfall for the Month 305.9 Total Rainy Days for53 words
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Miscellaneous486 1977-11-21 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Like the cheeks of the blushing bride? (4) 4 Warders who fix things? (6) 8 One in gaol a good time < 3) 10 Copies some landscapes (4) 13 Island singers (8) 14 Cheeky little features? < 7 > 15 Petals In hooped form486 words
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Page 3 Advertisements
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Advertisement86 1977-11-21 3 llljlll] Kt Cooked Specially For You x\ ONCE-IN-A-UFETIME OPPORTUNITY AWAITS YOU AT CHATEAU BLEU DEVELOPMENT t (800 acres) j<fv IN THE WORLD FAMOUS g* LAURENTIANS S£] close to MONTREAL. CANADA Sr MONTHLY PAYMENTS as low as CS4S per month S£T\ for 20,000 aq. ft. o* Investment Land Building Lots also86 words
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Advertisement115 1977-11-21 3 Near the new fly-over at Bukit Timah/Farrer/Adam Road junction At 4V£ miles Bukit Timah, opposite Chinese High School. Most Ideal And Luxurious Split-level garden Houses On Elevated Land Treat yourself to the beautiful greenery and scenery. Refreshing atmosphere with continuous cool and clean breeze. <* i i i -V r115 words
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Article, Illustration919 1977-11-21 4 DAVID SMITH - By DAVID SMITH Reuter MILAN: "They are cool, clinical and ruthless," says public prosecutor Fernando Pomarlcl "They are Involved In drugs, prostitution and extortion, kidnapping Is just one of their specialities." He was talking about Mafia kidnap gangs held responsible for most of theReuter - 919 words
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620 1977-11-21 4 LLOYD TIMBERLAKE - By LLOYD TIMBERLAKE Reuter LONDON: Two American psychologists believe alcoholics should be taught to assert themselves more. it could help them to drink less, they argue. Drs. Patrick O'Nell and John Roltzsch, In a recent Issue of the British Journal on Alcohol and Alcoholism, cite severalReuter - 620 words
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Article, Illustration999 1977-11-21 4 WALLACE TURNER - By WALLACE TURNER NYT SAN FRANCISCO: As the tropic dawn was breaking over Managua, Nicaragua, on Sept 24, 1972, a gaunt, bearded, dishevelled man, one of the world's wealthiest and most eccentric, took a heroic dose of 70 milligrams of vallum andNYT - 999 words
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Article, Illustration724 1977-11-21 4 Christopher Pritchett of Reuter describes some scenes from everyday life in China. Reuter PEKING: The chilly wintry winds sweeping Into Peking from the north give the city a brown and dusty look. The leaves have almost gone from the trees but patches ofReuter - 724 words
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Page 4 Advertisements
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Advertisement171 1977-11-21 4 COLLECTINQ Oriental /Inticnej rat 't N t 4fi I r t »W V tSL.~ iJ <- A J by Judith Moorhouse and Dries Blitz Hamlyn Group, London. Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed171 words
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242 1977-11-21 5 Reuter BARTLESVILLE. Oklahoma, Sun. Phillips Petroleum said estimated capital development costs for the North Sea Ekoflsk area oil and natural gas complex have been increased to US$5.2 billion for the Phillips Norway group. This includes development of the seven Ekoflsh area oil and gasReuter - 242 words
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Article48 1977-11-21 5 Reuter PARIS, Sun. Trefimetaux SA, a subsidiary of Pechiney Uglne Kuhlmann SA, will supply 800 kms of electric cable to Vietnam, a PUK statement said. A PUK spokesman declined to give the value of the contract, but said the cable Is already being manufactured. ReuterReuter - 48 words
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Article113 1977-11-21 5 Reuter JAKARTA, Sun. Coal e*Sarts from Shell Mljnbouw V's Buklt Asem fields In south Sumatra under a production-sharing contract with the Indonesian Government will be delayed, informed sources said Buklt Asem coal deposits are estimated at 10,000 million tonnes of lignltic and sub-blthumlnus coal, and theReuter - 113 words
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Article37 1977-11-21 5 Reuter MILAN, Sun. Montedison SPA group losses worsened In the first eight months of 1977, but taking Into account the deterioration of business conditions, the increase in losses was relatively slight, the company said. Reuter.Reuter - 37 words
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101 1977-11-21 5 HONQKONG, Sun. Theo H. Davles and Co., Hawaiian subsidiary of Jardine Matheson and Co., has signed a letter of intent with Bishop Trust Co! providing for Davles' acquisition of the mortgage banking and service business of Honolulu Mortgage Co. Davles will buy the interest for101 words
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Article103 1977-11-21 5 Reuter SOUTHFIELD, Michigan, Sun. American Motors Corp earnings for the year ended Sept 30 was more profitable because of automotive operating economies, growing sales of Jeep vehicles and contributions by non-automotive operations, Chairman Roy Chapin, Jr., said. The company reported earnings for the year ofReuter - 103 words
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OVERSEAS
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Article232 1977-11-21 5 Strong a linchpin of stability Reuter FRANKFURT, Sun. A strong dollar, accompanied i by US economic and i monetary policies to guarantee its strength, is necessary to maintain international monetary stability. Leonhard Gleske, a Bundesbank directorate member, told industrialists that a depreciated dollar will not contribute in the i short-termReuter - 232 words
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Article150 1977-11-21 5 LONDON Sun. Mr. Roy Hattersley, secretary ol prices and consumer protection, said the fall In the UK Inflation rate was two months ahead of schedule. Mr. Hattersley said: "This is a further demonstration that If we continue to apply the measures that succeeded this year, we150 words
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Article579 1977-11-21 5 ARRIVALS Service Local Operator Number xtine From CPA CX003 0145 HKQ SAS SK097 0750 CPH/KHI/BKK MAS MH682 0810 KCH GIA GA980 1030 HLP CPA CX710 1035 HLP THAI TG423 1035 BKK SIA SQ209 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1125 MNL579 words
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553 1977-11-21 5 Reuter NEW YORK, Sun. Bolstered by a mammoth Increase in reserves since the beginning of this year, the Bank of England has emerged as a major buyer of US government securities. Banking sources said this view Is supported by recent comments by aReuter - 553 words
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484 1977-11-21 5 GERALD COLVERD - ■y GERALD COLVERD SEASONAL euphoria, which traditionally rises as the year-end approaches looks like being a little late in arriving to stir the financial fraternltv into Its emotional crystal gazing for the new year. The revival of sterling and Chancellor Denis484 words
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514 1977-11-21 5 Reuter KNOXVILLE, Tennessee, Sun. Tennessee Valley Authority said it filed antitrust suits against two US and 11 foreign uranium producers charging conspiracy to restrain or eliminate competition In the world uranium market by fixing prices and setting conditions of sale. The US companies namedReuter - 514 words
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145 1977-11-21 5 Reuter TOKYO, Sun. The Japanese Securities Dealers Association board of directors approved a draft plan for the Introduction of options trading In Japan, an association spokesman said. He said the Tokyo Stock Exchange Is now studying the plan, which would require finance ministry approval beforeReuter - 145 words
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Article104 1977-11-21 5 Reuter WASECA, Minnesota, Sun. E.F Johnson Co said Itcurtailed operations preparing for a possible first' Suarter 1978 shutdown of Its J* ar Lake, Minnesota ultlzen Band radio plant as a direct result of Japanese Imports. it said the plant Is operating at about 33 per cent ofReuter - 104 words
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Article98 1977-11-21 5 Reuter PARIS. Sun. Rhone Poulenc Textiles said It Intends to reduce Its Lyons workforce by 800 between now and 1979. The workforce, which numbers 2.999 at present will be shed by natural wastage, early retirement and transfer to other firms Inside the Rhone-Poulenc group. The LyonsReuter - 98 words
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Article101 1977-11-21 5 Reuter TAIPEH. Sun. Chinese Petroleum Corp said It received loans totalling US$2B million from five foreign banks to finance construction of the second fluid catalyst cracking plant at Kaohsiung City, the Central News Agency reported. The agency said Citibank N.A. will lend $20 million, Security PacificReuter - 101 words
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238 1977-11-21 5 Reuter DALLAS, Sun. Continental Oil's upward earnings trend will, be Interrupted In 1977, chairman Howard Blauvett told analysts. However, he noted 1977 will still be the secondhighest in the comDany's history. Last year, the company earned US$4.3B a share on gross Income of $7.96Reuter - 238 words
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Article37 1977-11-21 5 Reuter LOS ANGELES. Sun. Getty Oil said directors declared a special dividend of US$l a share In addition to the regular quarterly of 70 cents. Both dividends are payable Dec 20, record Nov 29. ReuterReuter - 37 words
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Article226 1977-11-21 5 Reuter LONDON, Sun. Lucas Industries has plenty of scope for improving its position by greater penetration of both UK and overseas markets, chairman Bernard Scott said in the annual report. The expanding dlesel engine market presents an unprecedented opportunity for growth and there Is greatReuter - 226 words
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Article91 1977-11-21 5 Bvutcr LUXEMBOURG, Sun. The European Investment Bank's 1.5 billion Belgian franc eight-year issue, due Nov 24, has had its coupon cut to 8.50 per cent from the expected 8.75 per cent and is priced at 99.50 per cent, informed banking sources said. They said the couponBvutcr - 91 words
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Article148 1977-11-21 5 Reuter LONDON. Sun. Fruehauf Corp has advised Crane Fruehauf shareholders that it is considering the implications of the revised Inchcape offer for Crane Fruehauf shares. Fruehauf said It was in Crane Fruehauf shareholders' interests not to sign any documents sent to them by Inchcape or ItsReuter - 148 words
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Article84 1977-11-21 5 Reuter SEATTLE. Sun. A sevenweek strike at the Boeing Co ended last Thursday night when the International Association of Machinists and Aerospace Workers ratified a three-year contract, union officials said. The officials said 78 per cent of the 24,000 strikers voted to accept the tentative agreement reached earlierReuter - 84 words
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Article95 1977-11-21 5 Reuter LONDON, Sun. Former chairman of Scottish Universal Investments Ltd, Hugh Fraser was charged In the Glasgow sheriff court with offences under the Companies Act involving more than £4 million. Mr. Fraser and five other businessmen were alleged to have failed to give a true and fairReuter - 95 words
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Page 5 Advertisements
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Advertisement534 1977-11-21 5 This months new Penguins SCOTT FTTZGtRALD II I 11*1 IMifS THE IMPERIAL ACHIEVEMENT the taw ami .Afeik Other New Penguins: The Last Tycoon: F. Scott Fitzgerald Exhausted by Hollywood hackwork, Fitzgerald died before he could complete the book that marry people regard as his masterpiece. His bittersweet novel of Hollywood534 words
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COMPANY NEWS
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450 1977-11-21 6 TOSHIBA (Malaysia) appears to have kept Its promise "to do better" than just maintain Its earnings for the year ended June 30, 1977 at Its previous levels. The company reports In Its usually scanty preliminary statement that consolidated net profit for the 12fear rose450 words
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461 1977-11-21 6 SIME DARBY Holdings, the international trading group, has been accused of "oppressive action" against the minority shareholders of one of its subsidiaries. Mr. Jack Rice, veteran of shareholder defences and tfx-chalrman of Lubok Investments, made the comment in London last week after noting Slme's refusal461 words
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150 1977-11-21 6 Waak's Action 1977 Paiat High Low Industrial Group Nov 11 Nov IS Changs 213 89 145 90 Automotive 212.86 213 89 1.23 496 57 346 07 Banks, Insurance. Finance and Trustees 346 07 347.40 1.33 164 82 135 80150 words
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Article323 1977-11-21 6 Current payment Ex Date Date payable Total fir the year Total for previous year t S. Tractor* Renonf Tin HK Land Cqn Plant Malayan Banking 22.5% 35% 2.4%I 85% 11V»% Oct 12 Oct 31 Oct 19 Oct 14 Nov 7 Nov 21 Nov 22 Nov 24 Nov 25323 words
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COMPANY MEETINGS
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Article17 1977-11-21 6 Nov 22 at 10.30 a.m. at Penthouse, 10th floor, Wisma Central, Jalan Ampang, Kuala Lumpur.17 words
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Article19 1977-11-21 6 Nov 22 at 11 a.m. at Penthouse, 10th floor, Wlsma Central, Jalan Ampang, Kuala Lumpur.19 words
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Article16 1977-11-21 6 Nov 24 at 3.00 p.m. at 19th floor, OCBC Centre, Chulla Street, Singapore.16 words
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Article18 1977-11-21 6 Nov 28 at noon at SE, Poh Chong Building, 66 Jalan Ibrahim, Johor Baru.18 words
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Article17 1977-11-21 6 Nov 26 at 12.30 p.m. at the company's office at Tasek Industrial Estate, Ipoh.17 words
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Article17 1977-11-21 6 Dec 1 at noon at its re- gistered office, 73 Beach Street, Penang, Malaysia.17 words
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Article14 1977-11-21 6 Dec 28 at noon at 72A Jalan Tampoi. Johore Baru, Malay-14 words
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Article119 1977-11-21 6 TEMENGGONG has sold the entire issued share capitals of two whollyowned dormant subsidiaries, Temenggong Hongkong and Greatways Sdn. Bhd. The company says in a letter to the Stock Exchange of Singapore on Nov 17 that Temenggong Hongkong, a company Incorporated in Hongkong with an issued capital119 words
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Article98 1977-11-21 6 Reuter BRUSSELS, Sun. Monsanto Europe SA said It is clo&lng its textured yarn factory at Crallsheim, Baden-Wuerttemberg in West Germany, on Dec 31, due to continuing losses. Discussions are being held on compensation for the factory's 150 employees. The factory has been operating at well belowReuter - 98 words
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Article38 1977-11-21 6 Reuter AMSTERDAM, Sun. The Banque Francalse du Commerce Exterleur 75 million guilder 8 per cent debenture loan due 1988/87 has been priced at 99 per cent, Algemene Bank Nederland NV said as Joint lead manager. ReuterReuter - 38 words
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Article31 1977-11-21 6 Reuter CAMDEN, Sun. Campbell Soup Co said directors voted to increase the quarterly dividend to US 40 cents a share from 37 cents, payable Jan 31, record Jan 10. Reuter.Reuter - 31 words
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Article2584 1977-11-21 6 High 1977 Low Company Loot Sale Gr't Net r-M P/E Crr Week Vol Week C«0Q) High Low SECTION ONE INDUSTRIALS 154 204 116 244 88* 205 169 246 414 146 134 165 58 212 5Tt' 155 152 182 350 91 Acma Ale om Allied Choc2,584 words
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Page 6 Advertisements
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Advertisement176 1977-11-21 6 Confront Singapore's decision makers in Business limes 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 who176 words
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INTERNATIONAL STOCKS MARKETS
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Article331 1977-11-21 7 PARIS: Moat sectors were mixed last Friday, although rises outnumbered falls with Investors taking some heart from the October trade surplus. Electric*is and foods moved ahead while stores and oils lost ground, Parriar gained 0 per cent after announcing plans to nearly double Its dividend. U8 stocks moved lower331 words
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Article208 1977-11-21 7 THE Toronto market report on Friday was unavailable. NOV 18 CS Abttibt 9'<> Alcan 25 Vi Algoma 14% Bank Mont IBS Bank Nova Scotia 18% unch Bell Tel MS Beth Corp 14*i BP Can Ltd 15* S Brascan 13* unch Camp Red Lake 34% Can Imp Bk 22% unch208 words
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Article372 1977-11-21 7 JOHANNESBURG: Gold shares closed mixed In quiet trading last Friday. Initially, share moved higher on bullion indications but preweekend profit-taking set In the afternoon. Financial minings were very quiet and generally at previous levels. Elsewhere, D« Beers fluctuated narrowly to rule at 535 cents (533). Coppers were little tested,372 words
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Article276 1977-11-21 7 AMSTERDAM: The market was very steady last Friday, in quiet trading after Thursday's active conditions. Unilever, ex-divldend, and Philip* both rose 0.40 guilders In generally firmer Dutch Internationals. Akzo fell 0.90, however. Elsewhere, Insurances firmed strongly'led by Amfas, which closed 2.20 guilders higher. Most banks, trading and Industrial stocks276 words
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Article203 1977-11-21 7 MILAN: Moatedlsoa group shares fell following announcement of Increased group losses In the first eight months, bourse sources said last Friday. Otherwise, the market closed firmer In moderate trading with operators showing more Interest at the start of the new account The 500 lire nominal share of the parent203 words
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Article299 1977-11-21 7 FRANKFURT: The market last Friday closed mixed with selective buying Interest by domestic Institutional Investors balanced by profit-taking and positionsquaring. Leading banks were slightly higher, but Bayernverein lost 2.50 marks, while In generally steady stores, Karatadt advanced 2.50. Engineerings were firmer on balance while other sectors were mixed. Public299 words
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Article185 1977-11-21 7 BRUSSELS: Most Belgian shares last Friday were higher In moderately active trading. Surprise strikes planned by bourse marking clerks beginning today are not expected to stop trading. The clerks are calling for a review of pay scales. Among shares to rise were Saflaa. Electrvbel. Union Miniara. Vieille Montague, Cockerill,185 words
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Article295 1977-11-21 7 ZURICH. The market last Friday. closed quietly steady, lacking new incentives. Swiesair dipped, and banks were very steady. Elektrowatt recouped part of recent losses while in financlals, OerlikonBuehrle pointed higher, but Preeae-Finanx, Sika, Pirelli and Uaeao retreated. Small gains predominated in Insurances. Leading industrials turned mixed with Saurer, Sandos,295 words
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Article1272 1977-11-21 7 NEW YORK: The stock market, held back by selling in the morning, recovered from a twoday decline, finishing moderately higher last Friday In another busy trading session. Analysts said a major factor behind the rebound was the feeling the latest Jump In money supply, reported late Thursday by1,272 words
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Article1349 1977-11-21 7 On Nov 18 TRADING on the Chicago Board Options Exchange came to 114,5453 contracts last Friday, compared with 112,368 contracts on Thursday. OPTION JAN APL JLY STOCK Alcoa 40 4 UNTRD UNTRD 43 1/4 Alcoa 45 1 2 1/16 I 43 1/4 Alcoa SO UNTRD 3/4 NOL1,349 words
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Article63 1977-11-21 7 FINANCIAL TIMES INDUSTRIALS Friday *80 5 Thursday 481.0 Week Ago 501.4 DOW JONES AVERAGE INDUSTRIALS Friday 835.76 Thursday 831.86 Week Ago 845.89 LONDON DOLLAR PREMIUM Friday #8*. to 99 Thursday 97% to 96% H.K. HANG SENG Friday 425.51 Thursday 430.80 Week Ago 434.49 SYDNEY INDUSTRIALS Friday 386.09 Thursday 391.3363 words
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659 1977-11-21 7 THE New York stock market settled lower last week in a see-saw pattern of alternating up and down sessions. On Friday, a day of generally advancing prices, the Dow Jones Industrials finished at 835.76 with a loss of 10,13 points for the week.659 words
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Article307 1977-11-21 7 AFP. TOKYO share prices fell sharply last week on a broad front in light trading amid worse-than-expected earnings reports as well as the yen's sustained appreciation. The 225-stock Dow Jones average closed the five-day week at 4,853.42 yen for the year's worst weekly loss of 118.12AFP. - 307 words
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Article43 1977-11-21 7 MUNICH, Sun. The 35 million mark fixed severiyear privately placed convertible bond for Furukawa Electric Co will carry k 5 per cent coupon Instead or the originally envisaged 5.26 per cent, lead manager Bayerlsche Verelnsbanjt said. The Issue was priced at par.43 words
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Page 7 Advertisements
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Advertisement519 1977-11-21 7 For complete banking services, call: OvMMM UIUMI Ihwil Colli Am CmhmkM Banking Cirpn Ltd 104/1 M Rakintin Raad Au*n-PaiifA-B«nk AG MnidMM Btn 50 CaNyar Quay Banca Camnnrciali Itiinwi S>art Sking K*m Hikii Skantan Way Singaaari 1 (Tal: 2301.333) laiiliw Trmt Ca 504/500 Ocaan MMin| rnTfioji Barclay* Bank Intirnatianal LM 21519 words
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COMMODITY REPORTS AND PRICES
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Article282 1977-11-21 8 LONDON, Sun. Terminal rubber finished the day with losses of 0.75 to 0.10 pence per kilo on Friday. The official tone was "uncertain". Light pre-weekend booksquaring took place during the afternoon which lifted prices from early lows, dealers said. Futures fell during the morning on moderate trading282 words
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Article158 1977-11-21 8 THE Straits tin price in Penang on Saturday was down $7.00 to $1,780 on an official offering up 7 tonnes to 185 tonnes. In LONDON on Friday, tin on the day lost £35 for Cash and £28 for Three Months Standard while high grade was up £38 and158 words
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Article272 1977-11-21 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICLL YESTERDAY. Coconut Oil: Bulk $83 tellers, old drum $88 sellers, new drum $93 sellers. Copra: Mixed (loose) UK/Cont. $54 buyers. Pepper Muntok ASTA white f.o.b. 100% NLW $450 sellers. Sarawak White fob 98% NLW $430 sellers. Sarawak special black272 words
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Article61 1977-11-21 8 C.I.F.N. European ports prices quoted In London on Friday In US dollars per ton. Friday Previous Malaysia 5% (fa bulk 440 sir 443 qui Sumatra 5* ffa Nov unch 480 pd December sir 452.50 pd January 450 slr/442 Spd 447.50 pd F»b 447 V, sir/440 pd 442.50 pd61 words
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Article311 1977-11-21 8 LONDON, Sun. Copper wire bars on the day rose by £4.50 for Cash and £4 for Three Months on Friday. During the afternoon values worked higher on pre-weekend covering and arbitrage buying prompted Three Months hovered around £668 per tonne. The morning pre-mar-ket gave ground under prlcing sales Prompted311 words
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Article317 1977-11-21 8 Dealers attributed the selling to increased availability of early shipment cocoa at greatly reduced premiums plus New York's limit decline In the near December contract. The London near Dec/Mch premium accordingly narrowed to £286 per tonne compared with £436.50 a week ago. The morning market was easier on the317 words
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Article660 1977-11-21 8 Source: Swiss Bank Corporation. THE kllobar market In Singapore on Saturday, opened at $12,359 and traded to a high of $12,382 before easing off to close at $12,360. In the London market, the metal opened at U*****.70/161.00 and closed at the same level. Source: Singmaa Retail prices per taelSource: Swiss Bank Corporation. - 660 words
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Article183 1977-11-21 8 LONDON, Sun. Coffee prices opened about steady on Friday, In a range of £7 to £36 per tonne lower. Lots dealt totalled 172. The easier tendency reflected a continuation of Thursday's late speculative liquidation and dealer selling which found good scale down buying interest. Coffee futures extended opening losses183 words
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Article98 1977-11-21 8 LONDON, Sun. Spot sliver bullion finished around 266.00/267.00 pence per ounce up on Thursday's 264.50/265.30 close while Three Months was firm around 269.00/269.80 on Friday. Dealers said trading was quiet towards the close, but the price held firm In sympathy with gold. Earlier, however, dealers reported fairly active buy-98 words
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Article84 1977-11-21 8 LONDON. Sun. Zinc ended the day £6.50 up for Cash and £5.75 higher for Three Months on FTiday. Trade sources said zinc drew its strength from a tightness of nearby metal and market forecasts of a continued decline in warehouse stocks with an outflow of another 2,000 tonnes expected84 words
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Article75 1977-11-21 8 LONDON, Sun. Lead closed £0.75 per tonne higher for Cash and £0.50 up for Three Months on Friday. Dealers said the market held steady throughout a rather quiet day with forecasts of only a 150 tonne drop in warehouse stocks this week and a general lack of fresh news75 words
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Article333 1977-11-21 8 BANGKOK, Sun>— Very little business was reported in the rice market during the last week, trade sources said. Enquiries were received from Europe, West Asia and East Africa, but In the absence of a policy from the new government, exporters were reluctant to commit themselves. No new business was333 words
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719 1977-11-21 8 OOOD all-round buying support was reported In the Singapore produce market last week. But owing to the lower level of stocks held locally, many of the overseas advices had to be turned down. With the exception of coffee, prices ruled from steady to firm719 words
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Article158 1977-11-21 8 LONDON, Sun. Terminal Sugar had a quiet day on Friday and closed £0.65 down from Thursday to £0.3 up. Turnover totalled 1,993 lots Including 30 further call options. Prices fluctuated narrowly in the afternoon in scattered weekend booksquaring activity, dealers said. The Morning market was dull at generally unchanged158 words
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Article183 1977-11-21 8 CHICAGO, Sun. Soybean futures closed at or Just below the day's highs, registering gains of 11 to three cents a bushel on Friday. Trading was light and mainly speculative through most of the session and sellers were reserved. Buying was stimulated by the strength in soybean oil and expectations183 words
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Article154 1977-11-21 8 CHICAGO, Sun. Wheat futures closed at the day's highs with a late buying surge that brought gains of four to 2-1/4 cents a bushel on Friday. Little selling appeared In the market In a light, mixed trade and strength In the soybean complex generated shortcoverlng and speculative buying. The154 words
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MONEY AND EXCHANGES
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Article255 1977-11-21 8 THE US dollar opened relatively steady last week at the $2.9350/60 level In the Singapore forex market following statements made by Mr. Michael Blumenthal that the US had ruled out efforts to artificially depress the dollar and further remarks made by the President of Bundesbank, Mr. Emmlnger that255 words
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Article221 1977-11-21 8 Asian rates RATES firmed slightly In the early part of last week. Money supply which saw an increase of $2.4 billion in Ml and $3.6 billion in M 2, was discounted in the market. ASIAN currency average deposit* rates for the week ended Nov. 18. USS (Bid Price*) High Law221 words
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Article270 1977-11-21 8 OVERNIGHT money In the Interbank market rose to the 6 per cent level after opening at 4*l/2 per cent on Monday. In the terms, Interest In the main was on one and two-month funds, the rates for which moved higher by 3/16 per cent and 1/4 per cent270 words
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Article634 1977-11-21 8 Source: Swiss Bank Corp. ZURICH, Sun. The headlines last week were clearly made by the Japanese yen. After the Yamaichl Research Institute predicted early in the week that the dollar/yen rate would reach 230.00 In 1978 unless Japan took reflatlonary measures, the yen strengthened. It was supported by theSource: Swiss Bank Corp. - 634 words
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Article235 1977-11-21 8 LONDON, Sun. The dollar weakened through, out the day while sterling firmed in late trading on buying from New Yoft as operators took short positions In the currency before the weekend, dealers said on Friday. The yen closed stronger at 243.95/244.10 to the dollar compared with 245.30/60 at the235 words
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Article126 1977-11-21 8 NEW YORK, Sun. The dollar closed markedly weaker against major currencies in light trading, dealers said on Friday. They said operators were unwilling to hold dollars over the weekend, against a background of uncertainty about political developments in West Asia and about oil price trends. Sterling provided the126 words
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Article143 1977-11-21 8 Euro rates LONDON, Sun. Eurodollar deposit rates showed little change In light trading, dealers said on Friday. Market sentiment showed no adverse reaction to the strong rise in the US weekly money supply data, announced on Tnursday, dealers added. Four and five months eased by 1/16 in early trading and143 words
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Article69 1977-11-21 8 Source: Astley and Pearce THE overnight market waa relatively cautious in view of the Introduction of swap facilities by the MAB. Rates for the day-to-day funds finned up from 5 4 3/4 percent to 7 6 1/2 percent, remained steady, and closed at 6 1/4 6 towards theSource: Astley and Pearce - 69 words
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Article44 1977-11-21 8 FRANKFURT exchanges clotlnc quote* on Oct II US 2.241V 23 can row at UK 4.mv *2 Net*) 92.30/ SwIU *****/ Italy 2.591/ HI France 44 It/ 21 WO JIM/ M ora 4 302/ M2 Belt Fin 4 30/ M Norm 41 on/ It44 words
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Article39 1977-11-21 8 FOR the week ended Friday Nov 18 the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND to 4SS GENERAL FUNDS 3*4% to 4H(%. Movements of funds totalled 8416 m.39 words
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Page 8 Advertisements
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Advertisement143 1977-11-21 8 Don't let the language barrier stop you from wider 10l '.CI contacts I 1 «i n c\^° r *,o Sa *SA si x y y A I \0 NfJ c\ 3^ s ,v V3\e A i p J-t e Uw w —U. i s V* w YOU SIMPLY CANNOT FAIL143 words
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MONDAY SPORTS
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Article, Illustration523 1977-11-21 9 UPI LONDON, Sun. Swedish title favourite BJorn Borg pounded out a 6-2, 6-4 victory over fourth-seeded American, Eddie Dlbbs yesterday to reach the final of the £75,000 Benson and Hedges Orand Prix tennis championship. Borg's opponent in today's decider for theUPI - 523 words
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455 1977-11-21 9 UPI SYDNEY, Sun. Secret brand and colour markings of Sydney racehorses were found written In racebooks seized after arrests In a horse-doping case, the central court was told last Friday. The deputy chairman of the Australian Jockey Club (AJC) John Mahoney toldUPI - 455 words
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282 1977-11-21 9 UPI AUCKLAND, Sun. A marathon course where an apparent world's best time was set last weekend was more than one and a half miles short of the official distance, the Auckland Athletic centre said yesterday. Officials yesterday remeasured the course on which the first nineUPI - 282 words
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Article96 1977-11-21 9 AP HONOLULU, Sun. Hawaii's Reno Abellira edged Australia's Mark Richards by one point to take the $5,000 first prize in the world pro-am surfing competition yesterday at Sunset Beach. Abellira won the event in 1974, while Richards, who took home a $2,000 purse, was the 1975 champion.AP - 96 words
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968 1977-11-21 9 In the Horseperson's Hall of Fame NYT NEW YORK. Sun. When the 94th National Horse Show opened in Madison Square Garden last Tuesday, Gordon Wright was idling in the working press lounge cutting up old touches. Gordon Wright, 75, last of the cavalry officers to represent the United States inNYT - 968 words
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Article1169 1977-11-21 9 PETER DOBEREINER - It makes no difference that the bulk* of this rising pile of golfiana is worthless rubbish. To the collector,' at least to my kind of in-' discriminating jackdaw, everything> is grist to my acquisitive mania. PETER DOBEREINER reveals a golfing habit that can become a:, collectors item.1,169 words
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Article, Illustration527 1977-11-21 9 "Better to hunt in fields, for health unbought, Than fee the doctor for a nauseous draught. The wise, for cure, on exercise depend; God never made his work, for man to mend." (John Dryden, 1631-1700.) FT LONDON, Sun. Nobody, least of all anFT - 527 words
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912 1977-11-21 9 TONY PAWSON - By TONY PAWSON The Observer AS the Kerry Packer case drifts drearily on in the court there Is a widening gulf between those who talk of cricket solely in terms of a money-making business and those who think in terms of the spiritThe Observer - 912 words
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Page 9 Advertisements
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Advertisement159 1977-11-21 9 HANDBOOK op ft' <?x 5P° L 7 7* ?n r> w by E. Lenox Figgis F.C.A. A practical handbook explaining how betting takes place on the world's most popular betting pastimes, including horses, dogs, football pools, sporting events, casino games, such as craps, roulette, etc., sweepstakes, lotteries, elections, card games,159 words
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Article733 1977-11-21 10 Reuter AFP GENEVA, Sun. Third World states said here two weeks of talks with developed nations have failed to establish a meaningful basis for negotiating a proposed international fund to stabilise world commodity prices. A spokesman for the Group of 77 developing states told a UnitedReuter; AFP - 733 words
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583 1977-11-21 10 Agencies HONGKONG, Sun. Textile talks between Canada and Hongkong in Ottawa have ended without solving trade problems between the two countries. Hongkong deputy director of trade John Chan said the two sides had exploratory discussions on a bilateral textiles agreement to replace global import quotas ImposedAgencies - 583 words
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530 1977-11-21 10 KUALA LUMPUR, Sun. A crisis has shattered the board of Magnum Corporation, formerly Empat Nombor Ekor, the four digit lottery company. Chairman and chief executive. Dato Khoo Kay Peng.and six other directors of the 15-man board have resigned simultaneously as notices were sent out530 words
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471 1977-11-21 10 Reuter TEHERAN, Sun. Indonesian Mining Minister Professor Mohammad Sadll said his country could not afford an oil price freeze next year as favoured by Iran and Saudi Arabia. "Indonesia cannot afford a freeze. It needs the money," Prof. Sadll said yesterday. But "If majorReuter - 471 words
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Article333 1977-11-21 10 THE MINISTER of State for Labour, Mr. Sla Kah Hul. last night urged unions to "exercise moderation" In making demands for wage increases and fringe benefits. They should learn to place national interests over individual and sectional interests, he said. Mr. Sla was speaking333 words
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751 1977-11-21 10 Reuter MIYAZAKI (Japan), Sun. Prime Minister Takeo Fukuda said US-Japan trade talks would become conclusive when President Carter's special trade representative Robert Strauss visits Japan around Dec 10. Mr. Fukuda, who arrived here for the ruling Liberal Democratic Party's (LDP) fundReuter - 751 words
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Article120 1977-11-21 10 SINGAPORE will continue to meet the technological requirements of the Far East, Including Asean, said Mr. Horst Weber, a German diesel engine specialist. Mr. Weber made this observation after touring the numerous industries in the Republic which impressed him as being extremely advanced in the120 words
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Article226 1977-11-21 10 AFP TOKYO. Sun. Reflecting slack domestic demand. Japan's top nine trading houses, except for Mitsui and Co, all recorded a drop in current profits in the first half of this fiscal year (April-September), It was reported. In the period, Mitsui recorded a gain of 6.4 per centAFP - 226 words
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Article177 1977-11-21 10 KUALA LUMPUR. Sun. A set of recommended guidelines for Asean industrial schemes will be submitted to the Asean committee of industry, mineral and energy which will meet in Manila soon. Federal Industrial Development Authority (Fida) chairman. Dato Jamil Mohamed Jan, said the guidelines "that would benefit people of177 words
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Advertisement212 1977-11-21 10 Success in today's world of business calls for a constructive approach to financing, a sound knowledge of the available markets, and original ideas. These are the strategic qualities that Wardley can provide throughout Asia. Wardley Limited, backed by the resources and experience of The Hongkong Bank Group, can offer financial212 words
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