The Business Times, 3 January 2009

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Microfilm: NL29639
Total Pages: 48
1 48 The Business Times
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  • Title Section
    Lock icon Masthead
    13 1 weekend THE BUSINESS TIMES JAN3-4,2009 ssi.oo www.businesstimes.com.sg an sph publication MICA(P) 198/08/2008 www.businesstimes.com.sg
    13 words
  • Article, Illustration
    Lock icon Economy bears challenge the Ox
    794 1  -  Anna Teo Singapore GDP down 2.6% in fourth quarter, the sharpest fall in seven years By anna@sph.com.sg Singapore THE Year of the Ox may be around the corner, but the latest gross domestic product figures have brought out the market bears in force, with the
    MTI  -  794 words
  • Page 1 Advertisements
  • Page 1 Miscellaneous
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 1
      134 1 MOTORING pK tP^GM l^^tf MOTORING fcv S^^^ CHANGE OF GUARD Ml chief stepping down Neil Montefiore, 55, says he wants to 'pursue other personal interests'. New CEO will likely have to reinvent the company's current business model 2 PROPERTY PINCH Q4 private home prices slide Drop is worst in a
      134 words
    • Miscellaneous
      Lock icon Page 1 Miscellaneous Column 2
      32 1 THE BUMPY ROAD WEALTH Car bosses on what Retailers among lies ahead LiB,i9 few gainers 30,31 THE BUMPY ROAD WEALTH Car bosses on what Retailers among lies ahead LiB,i9 few gainers 30,31
      32 words
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  • TOP STORIES
    • MARKETS
      • Article
        Lock icon STOCKS
        40 2 KL COMP 894.36 +17.61 NIKKEI 225 Closed HANG SENG 15,042.81 +655.33 SET Closed JAKARTA Closed MANILA Closed KOSPI 1,157.40 +32.93 SHENZHEN B Closed MUMBAI IND 9,958.22 +54.76 11am EDT Chanpe 11am EDT Change DOW 8,906.06 +129.67 NASDAQ 1,602.01 +24.98
        40 words
      • Article
        Lock icon PRIME RATES
        29 2 SINGAPORE 5,38 MALAYSIA 6,51 HONG KONG 5,00 INDONESIA 16,623 TAIWAN 6,316 JAPAN 1,675 KOREA 9,33 BRITAIN 2^oo US 3,25 CANADA 3,50 SWITZERLAND 2,02 INDIA 13,00 -Source: Bloomberg
        Bloomberg  -  29 words
      • Article
        Lock icon FOREX
        45 2 is$ 2$ US$' 1.454 'US$i 1.458 2.120 :uro 'US: 1.390 2.020 Foreign currency per US$, S$ YEN 91.30 62.80 RM 3.469 2.386 HK! 7.751 5.332 BAHT 34.79 23.93 RUPIAH 10,900 7,498 RENMINBI 6.823 4.693 INDIAN RUPEE 48.89 33.63 A$ 1.441 0.991 NZ$ 1.733 1.192
        45 words
    • Article, Illustration
      Lock icon The search is on for new Ml chief
      599 2  -  Ong Boon Kiat Montefiore calling it a day, Karen Kooi stepping in as acting CEO By boonkiat@sph.com.sg Singapore THE first telecom chief to lock horns with incumbent Sing Tel over a decade ago has decided to call it quits. Mobile One (Ml)
      599 words
    • Article, Illustration
      Lock icon Q4 private home price slide is worst in decade
      789 4  -  Kalpana Rashiwala Some consultants notice yawning bid-ask gaps leading to distressed transacted prices By kalpana@sph.com.sg Singapore IN its worst showing since Q4 1998, the official private home price index slid 5.7 per cent in Q4 last year over the preceding quarter.
      URA  -  789 words
    • Article, Illustration
      Lock icon A *Star chairman among people to watch in science
      417 4  -  Chen Huifen By xuifen@sph.com.sg Singapore AGENCY for Science Technology and Research (A*Star) chairman Lim Chuan Poh has been named one of eight key figures in the world of science by an international publication. In its January issue, Science magazine listed him
      417 words
    • Article
      Lock icon Dismal manufacturing numbers test Obama
      577 5 LATEST US DATA Key index points to the sharpest decline in US manufacturing in December in about thirty years New York MANUFACTURING in the US shrank in December at the fastest pace in almost three decades as the recession deepened and spread overseas. The Institute
      577 words
    • Article, Illustration
      Lock icon Record pace of job cuts in China, Russia and India
      633 5 Beijing FACTORIES in China, India and Russia slashed output and jobs at a record pace in December in another sign the world's largest emerging markets were wilting under the recession that has gripped most industrialised nations. Factory activity surveys in
      AFP  -  633 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Lock icon Page 2 Miscellaneous Column 1
      64 2 Bflflaflß NEWS LIVING Top stories 2-5 Travel L 2-4 Raffles Conversation 6,7 Home Garden L 5,6 Week In Review 8 The CEO Column 9 Companies 10-14 Singapore 15-17 jf^ Letter From Abroad T8 Entertaining World T9-22 Stocks stats 2i^ Perspective 28,29 ShoPPinB Ll2-14 Wealth 30-36 Health tlsWealth Insights 32 s
      64 words
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  • THE RAFFLES CONVERSATION
    • Article, Illustration
      Lock icon Opposition crusader
      2206 6  -  Vikram Khanna Indian author and firebrand opposition politician Arun Shourie talks about the state of India's economy and politics. By jk S a crusader for i^L causes who never minces words nor shows any fear of those in authority, Arun Shourie has won many admirers and has also
      REUTERS  -  2,206 words
    • Article
      Lock icon Raffles
      76 6 The Raffles Conversation is brought to you through a special arrangement with Raffles Hotels Resorts. A collection of luxury hotels, Raffles Hotels and Resorts distinguishes itself through the highest standards of tj i hospitality, service and cuisine. Its hotels in Singapore, Beijing, Cambodia, Beverly Hills, Dubai and the Caribbean
      76 words
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  • WEEK IN REVIEW/WEEK AHEAD
    • THIS WEEK
      • Article
        Lock icon Wary SMEs find credit doors blocked
        62 7 THE evidence may be anecdotal, but rumblings from the ground appear to echo what many suspect: small and medium enterprises (SMEs) are finding it difficult to obtain credit from banks, despite the government's efforts to unclog funding lines. While the situation is still manageable,
        62 words
      • Article
        Lock icon Another year of flying dangerously
        44 7 FOR most of the 500-odd airlines around the world, 2008 started badly only to turn worse and then downright ugly. It was commercial aviation's annus horribilis. Going into next year, most airlines will have to plan capacity expansion carefully.
        44 words
      • Article
        Lock icon JTC to bulk up space at Jurong business park
        58 7 THE economy may be slowing but the government has already set its sights on riding the recovery. To meet future demand for space, JTC Corporation plans to expand the International Business Park in Jurong by 20 per cent and will raise
        58 words
      • Article
        Lock icon DTZ expects 2009 to echo property price plunge of 2008
        47 7 PRICES of condominiums and apartments in the prime districts have fallen by more than 20 per cent in 2008 on a year-on-year ba- sis, says DTZ. It forecasts a further drop of 15-20 per cent in 2009.
        47 words
      • Article
        Lock icon Spring Singapore offers cheaper loans
        55 7 THE Singapore government has taken fresh steps to make liquidity more easily available to businesses. For one, interest rates on business financing schemes through Spring Singapore will be lowered by 1.25 percentage points. The government will also almost double its share of the insurance premium
        55 words
      • Article
        Lock icon Bank lending turns cold in November
        70 7 BANK lending fell over the month in November, for the first time in nearly two years, as loans to businesses declined and more companies went bust, an early sign of the damage that the financial crisis is inflicting on the economy here. Total Singapore-dollar
        70 words
      • Article, Illustration
        Lock icon GDP growth shrinks to 1.5%, focus on saving jobs
        109 7 WITH the economy likely to contract further and more layoffs expected in the months ahead, Prime Minister Lee Hsien Loong has urged Singaporeans to brace for a difficult 2009, especially the first half. GDP growth plunged to 1.5 per cent in
        FILE PHOTO  -  109 words
      • Article
        Lock icon Lower dividends on the cards as earnings wither
        63 7 SHAREHOLDERS could receive lower dividend payouts in absolute dollar terms this year as corporate earnings wither under the heat of the recession. Still, they can take heart that yields will remain at attractively high levels, given the low valuations and the fact
        63 words
      • Article
        Lock icon More upside for US dollar against Asian units predicted
        86 7 THE US dollar is set to advance further against its Asian counterparts as economic woes in the largest economies deepen, especially in the first half of 2009, currency ana- lysts warn. Says UK-based research firm Forecast: "The perverse logic, whereby the
        86 words
      • Article
        Lock icon US stocks in steepest post-Depression fall
        68 7 US stocks have plunged the most since the Great Depression in 2008 as financial shares collapsed, energy and metal producers tumbled, and the world's biggest economy suffered a year-long recession. Citigroup Inc, Bank of America Corp and Goldman Sachs Group Inc retreated more than
        68 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 1
      175 7 CRYPTIC CROSSWORD 13 Ladder ahead in approach catnaps (7) them served with a tat"l Endanger 6 Access, 9 Aclettuce (5) 27 One during French film 3 One disrupting model's SaMSContot .L!iS£ 22 Nerdy type, unhappy festival shows teeth (7) composure (5) stroke, 19 Anyhow, 21 uprising, 23 attending party (5)
      175 words
    • Miscellaneous
      Lock icon Page 7 Miscellaneous Column 2
      78 7 NEXT WEEK Jan 5-9, 2009 US DATA Jan 5 Nov construction spending Jan 6 Nov factory orders Dec ISM services Jan 7 Jan crude inventories Jan 8 Nov consumer credit Jan 9 Dec hourly earnings Dec non-farm payrolls Dec unemployment rate Nov wholesale inventories SINGAPORE DATA Jan 7 International reserves
      78 words
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  • FROM THE DESK OF
    • Article, Illustration
      Lock icon Nearly picture-perfect, despite the storm
      939 8 In the 29 years, since I joined Canon, I had the opportunity to be based in Singapore twice in the 1980s and now and the country has never failed to amaze me. If asked to name a small Asian country that has shown phenomenal economic
      939 words
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  • COMPANIES
    • Article, Illustration
      Lock icon 2,700 Creative jobs axed in last fiscal year
      441 9  -  Ong Boon Kiat Company says bulk of cuts is due to the sale of a Malaysian manufacturing subsidiary in 2007 By boonkiat@sph.com.sg Singapore CREATIVE Technology culled its workforce by almost half in FY2OOB, an annual filing by the company on the eve
      FILE PHOTO  -  441 words
    • Business briefing
      • Article
        Lock icon Wee Hur construction unit wins $83m contract
        55 9 WEE Hur Holdings has announced that its subsidiary Wee Hur Construction has been awarded an $83.18 million contract. The deal involves building 420 dwellings units in Sengkang Neighbourhood and contingency works. Work is expected to start on Feb 3, 2009 and to be
        55 words
      • Article
        Lock icon F J Benjamin unit ends HK joint venture
        165 9 F J Benjamin Holdings says its wholly owned subsidiary F J Benjamin Concepts has terminated a joint venture with Rowsley Company in Hong Kong in relation to Manchester United Food Beverage (Asia) Pte Ltd (MUFB). FJB has agreed to sell to Rowsley
        165 words
    • Article, Illustration
      Lock icon Thakral Brothers reschedules $800,000 debt to Thakral Corp
      467 10  -  Emilyn Yap Amount to be paid in three instalments by April 30 or earlier on same terms announced in March 2007 By emilyny@sph.com.sg Singapore THAKRAL Brothers (Private) Ltd, a company partly owned by the prominent Thakral family, has asked to reschedule the
      FILE PHOTO  -  467 words
    • Article, Illustration
      Lock icon Will 2009 be the year of the 'two-tier' market?
      634 11  -  R Sivanithy STOCKS Trading this week lent support to this description as a push on index stocks helped the STI rise 104 points or 6% over the week to 1,829.71 sivan@sph.com.sg Senior correspondent HE local stock market has often been described
      634 words
    • Article
      Lock icon TOP 20 ACTIVES
      110 11 ;olden 70,225 24.5 1.0 4.3 >if 46,156 0.5 0.0 0.0 :osco Coi 30,150 92.5 -2.5 -2.6 jtraitsAsia 25,030 82.5 4.5 5.8 :hinaEnerj 23,643 17 2.0 13.3 HnaXLX 23,416 40.5 3.0 8.0 \droit 22,000 1.5 0.0 0.0 ;ent Intl 21,203 46.5 1.5 3.3 lidas 18,008 50 1.5 3.1
      110 words
    • Article
      Lock icon STI STOCKS
      53 11 :apitaLand 3.270 +0.160 ]apitaMall 1.630 +0.040 'Dev 6.600 +0.230 :osco Cori 0.925 -0.025 IBS Gn 8.690 +0.270 :&N 3.130 +0.180 lent Intl 0.465 +0.015 iolden Ai ;ri 0.245 +0.010 IK Land 2.560 +0.080 MH 18.340 -0.160 ISH 9.910 -0.490 lardine C&C 9.920 +0.420 lei Con 4.510 +0.180 >el
      53 words
    • Article
      Lock icon TOP GAINERS
      59 11 CLOSE BY CENTS UP GLD 10US$ 8628 154.0 1.2 OCBC Bk4.5%NCPS 100 8300 126.0 1.5 STXPO 100 977 77.0 8.6 China H 10US$ 1082 65.4 4.3 MS India 10US$ 789 65.4 6.0 SI A 1182 56.0 5.0 UOB 5.05%NCPS 100 9354 54.0 0.6 UOB 1338 46.0 3.6 Jardine
      59 words
    • Article
      Lock icon TOP LOSERS
      106 11 BY CENTS CLOSEDOWN "A JMH 1834 -23.3 -0. Cii NCCPS 114 -10.0 -8.1 Great Eastern 897 -9.0 -1.1 STI 1800SGAePW*****6 20 -8.0 -28.( STI 1950 DBePW*****2 35.5 -7.0 -16.! Isetan 310 -6.0 -1.' STI 2000BNPePW*****0 37.5 -6.0 -13.! STI 2050BNPePW*****9 31 -6.0 -16.: Creative Tech 425 -5.0 -i.:
      106 words
    • Article, Illustration
      Lock icon Hushed IPO scene expected over the next six months
      867 12  -  Jamie Lee CORPORATE FOCUS This follows a 77.2% plunge in IPO funds raised last year to USsl.2lb from USss.3b a year earlier. By r HE IPO market was wrung dry in 2008 and with the Champagne bottle having just been popped
      FILE PHOTO  -  867 words
    • Article, Illustration
      Lock icon SPC to rehire retiring chief executive
      352 13 Koh Ban Heng retires on Feb 5 but will resume his duties from March 1 on an annual contract SINGAPORE Petroleum Company (SPC), which is part of the Keppel Corp group, yesterday announced the retirement of its chief executive officer and executive director Koh
      FILE PHOTOS  -  352 words
    • Article
      Lock icon Multi-Chem warns of full-year 2008 loss
      177 13 MULTI-CHEM has warned that it will report a full-year 2008 loss because of a drastic slowdown in demand for electronic products since the third quarter of 2008. Provisions for the impairment of idle machines may be necessary as well. The slowdown has led to
      177 words
  • Page 9 Advertisements
    • Advertisement
      Lock icon Page 9 Advertisements Column 1
      44 9 r _p <-± 1 y- J o u nf) FIND THE ONES p,AP M THAT FIT! dor Recruit the right people through CATS Recruit. j i t Call 1800 289 8822 or email T recruit@sph.com.sg to advertise. f RECRUIT I /J o -3 It-) <-H
      44 words
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  • Page 10 Advertisements
    • Advertisement
      Lock icon Page 10 Advertisements Column 1
      950 10 w A MATS CRAFT PRINT INTERNATIONAL LIMITED (Incorporated in Singapore) (Co. Reg. No. *****1572K) NOTICE IS HEREBY GIVEN that the Annual General Meeting of CRAFT PRINT INTERNATIONAL LIMITED ("the Company") will be held at 9 Joo Koon Circle, Singapore *****1 on Tuesday, 20 January 2009 at 10.00am for the following
      950 words
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  • Page 11 Advertisements
    • Advertisement
      Lock icon Page 11 Advertisements Column 1
      67 11 The famous "A Room Within A Room" concept originally designed by Eero Aarnio in 1996 m Chic retro design A with white exterior B red interior cushioned B wall that is V H upholstered in fabric 1* Durable stylish V I fiberglass shell W Swivels 360 degrees Removable interior cushions
      67 words
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  • Page 12 Advertisements
    • Advertisement
      Lock icon Page 12 Advertisements Column 1
      874 12 w A MATH NOTICES he uethl HG METAL MANUFACTURING LIMITED (Company Registration Number: *****2660D) (Incorporated in the Republic of Singapore on 4 August 1988) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting (the "EGM") of the shareholders of HG Metal Manufacturing Limited (the "Company")
      874 words
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  • Page 13 Advertisements
    • Advertisement
      Lock icon Page 13 Advertisements Column 1
      314 13 g^NOTICES INTHEMAHEROF THE COMMNIB AQ, CUP. 50 DAE MYUNG MARINE CO. PTE. LTD. Co. Reg. No. 2006T7293H (Incorporated in the Republic of Singapore) MEMBERS'VOLUNTARY WINDING UP At an Extraordinary General Meeting of the members of the aoovenamed Company duly convened and held at 17 Phillip Street, #05-01, Grand Building, Singapore
      314 words
    • Advertisement
      Lock icon Page 13 Advertisements Column 2
      5 13 ■CD m o cc ■< o
      5 words
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  • SINGAPORE
    • Article, Illustration
      Lock icon New passenger train to ply S'pore and JB
      562 14  -  Lee U-Wen Rail service is an Iskandar Malaysia economic zone project initiative By leeuwen@sph.com.sg A NEW passenger rail service will start on Monday between Tanjong Pagar station in Singapore and Danga City Mall in Johor Baru. It is the first of several
      562 words
    • Article, Illustration
      Lock icon 6 new members to join A*Star board
      243 14 SIX new members will join the board of the Agency for Science, Technology and Research (A*Star) next month, including the head of a global venture capital firm. The six are: Economic Development Board (EDB) managing director Beh Swan Gin, Nanyang Technological University Provost
      243 words
    • Article, Illustration
      Lock icon Cut costs to save jobs top priority: NTUC
      356 15  -  Teh Shi Ning Upgrade and retrain workers for new and different jobs too, says labour chief By tshining@sph.com.sg THE labour movement's top three priorities this year are to cut costs to save jobs, upgrade and retrain workers and sustain the momentum to
      356 words
    • Article, Illustration
      Lock icon People still need their CNY luck, no matter what
      466 15  -  Keith Chee By keithc@sph.com.sg RECESSION may have cast a shadow over the coining Chinese New Year, but people still need their luck. Nurseries approached by The Business Times reckon the economic downturn will not affect sales of hampers and plants, as
      YEN MENG JIIN  -  466 words
    • Article, Illustration
      Lock icon National Cancer Centre to lead drug trial on 700 patients
      440 16  -  Chen Huifen Project will involve at least 22 institutions from 12 countries By xuifen@sph.com.sg THE National Cancer Centre Singapore (NCCS) will lead a 700-pa-tient clinical trial for head and neck cancer therapy, possibly the biggest drug trial ever coordinated by
      FILE PHOTO  -  440 words
    • Article
      Lock icon 2 S'poreans unaccounted for in Bangkok fire
      250 16 TWO Singaporeans in the vicinity of the Santika Pub in Bangkok when fire broke out on New Year's Day remain unaccounted for, the Ministry of Foreign Affairs (MFA) said yesterday, without giving further details. Fire razed the Bangkok nightclub just after midnight on
      250 words
    • Article, Illustration
      Lock icon Flyer's marketing agent expects to ride it out
      428 16  -  Teh Shi Ning By tshining@sph.com.sg DESPITE the Singapore Flyer's recent breakdown, Adval Brand Group, the company with exclusive sales, marketing and ticketing distribution rights to the attraction, expects to "make good on its investment objectives". Before the $240 million observation wheel was
      428 words
  • Page 14 Advertisements
    • Advertisement
      Lock icon Page 14 Advertisements Column 1
      736 14 V#^L r^T^T/nr r< To"free: 180°-289-8822 V IVIII L-f V Email: notices@sph.com.sg JL^I V^>/ JL ly^l 't, www.cats.com.sg IN THE MATTER OF THE COMPANIES ACT CAP 50 IN THE MATTER OF A A A I_J VERTEX INVESTMENT (III) LTD I V 1 \l^ (Co. Registration No. *****7666E) I T 1# II
      736 words
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  • LETTER FROM ABROAD WITH ASCOTT
    • Letter, Illustration
      Lock icon S'pore nomad finds peace in Etsy
      765 17  -  Cheryl Ye LETTER FROM MELBOURNE| Speech-language pathologist artist Like Pasadena, Melbourne is also a big art town, with craft markets populating the city on the weekends, so returning here with a strong interest in arts and crafts was perfect. We invite Singaporeans living overseas
      ON THE MOVE The writer in Port Macquarie, Sydney  -  765 words
  • Page 17 Advertisements
    • Advertisement
      Lock icon Page 17 Advertisements Column 1
      57 17 K^JF>J Hsfl?>j t I I&T "^P^>^l THE RESIDENCE SERVICED RESIDENCE APART'HOTEL Ascott International is a subsidiary of Tlie Ascott Group, a member of CapitaLand. It is the largest global serviced residence operator in Asia fticific, Europe and the Gulf legion, managing the Ascott, Somerset and Citadines brands in over 60
      57 words
    • Advertisement
      Lock icon Page 17 Advertisements Column 2
      13 17 THE ASCOTT GROUP A Member of CapitaLand Thisseriesisbrought toyou by The Ascott Group
      13 words
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  • WORLD
    • Article
      Lock icon M'sia may miss tourism target narrowly
      508 18  -  Pauline Ng But Thailand's political turmoil and tourism boom in places like Penang set to narrow the deficit By btworld@sph.com.sg Kuala Lumpur MALAYSIA may not achieve its target of 22.5 million visitor arrivals for 2008. But the shortfall will not be large thanks in
      508 words
    • Article, Illustration
      Lock icon Indian tycoon tops Forbes list of biggest losers
      542 18  -  By Neeta Lai btworld@sph.com.sg New Delhi INDIAN tycoon Anil Ambani, chairman of Anil Dhirubhai Ambani Group (ADAG), has topped Forbes' list of the biggest billionaire losers of 2008. He is estimated to have lost US$3O billion, or more than 71 per cent,
      REUTERS  -  542 words
    • Article
      Lock icon Economy won't fall into recession this year: Zeti
      429 18 Reuters Kuala Lumpur MALAYSIA will not slip into recession in 2009 and there is still room for rate cuts should the growth outlook worsen, a local newspaper quoted central bank governor Zeti Akhtar Aziz as saying yesterday. "At prevailing rates, there is
      Reuters  -  429 words
    • Article, Illustration
      Lock icon HK air pollution hit record nigh last year
      334 19 AFP Hong Kong AIR pollution across large swathes of Hong Kong last year reached its highest level since records began, despite government efforts to improve the environment, official figures showed yesterday. Hong Kong suffers high air pollution, caused partly by huge numbers
      AFP  -  334 words
    • Article
      Lock icon India cuts rates, cash reserve ratio
      475 19 Reuters, Bloomberg Foreign investment limit for corporate bonds raised Mumbai the global markets, economic activity in India would recover sharply," it said. "But a period of painful adjustment is inevitable." The benchmark 10-year bond yield tumbled 29 basis points after the rate decision to
      Reuters, Bloomberg  -  475 words
    • Article
      Lock icon China's fastest super computer unveiled
      306 19  -  Saibal Dasgupta By btworld@sph.com.sg Beijing A CHINESE company yesterday unveiled the country's fastest supercomputer, which has a top speed of 200 trillion FLOPS (float-ing-point operations per second). The machine cost US$29 million, which is less than a third of what the US Department of Energy
      306 words
    • Article
      Lock icon South Koreans cut back on plastic surgery
      620 20 NYT Anxiety caused by the falling stock market and currency has forced them to change their habits Seoul A GRIM frugality has settled over this export powerhouse that once burst with optimism and silicone. Cosmetic surgery took off here after South Korea's spectacular
      NYT  -  620 words
    • Article, Illustration
      Lock icon Sri Lankan troops seize rebel HQ town
      336 20 Reuters Colombo SRI Lankan troops have captured the separatist Tamil Tiger rebels' headquarters town of Kilinochchi after months of fighting, Sri Lankan President Mahinda Rajapaksa said yesterday. "We should pay the gratitude of the whole nation to those heroic soldiers who achieved that
      Reuters; REUTERS  -  336 words
    • Briefing
      • Article
        Lock icon Oil prices start year with 8% slump
        91 20 Reuters London The oil market kicked off 2009 feebly yesterday, falling nearly 8 per cent, partly in reaction to a sharp rally late on Wednesday. US light, sweet crude fell US$2.B4 to U5541.76 a barrel by 1035 GMT, reversing part of Wednesday's U555.57
        Reuters  -  91 words
      • Article
        Lock icon Europe's gas flowing a day after Moscow cuts off Kiev
        63 20 Y-* wj. J.J.J. Reuters Kiev Russian gas kept flowing to European Union nations yesterday, a day after Moscow cut off flows to Ukraine in a contract dispute, but importers across the continent were watching for signs that their supplies were
        Y-* -■- §-' wj. J.J.J. Reuters  -  63 words
      • Article
        Lock icon IndyMac has US$l b obligations: report
        124 20 Reuters New York Fannie Mae, the largest US home funding company, believes that failed mortgage lender IndyMac has obli- gations to repurchase around US$l billion of home mortgages that failed to meet Fannie's standards, the Wall Street Journal said, citing people familiar with the
        Reuters  -  124 words
      • Article
        Lock icon Slovakia is 16th country to adopt the euro
        94 20 AP BRATISLAVA, Slovakia Slovak banks did brisk business as they opened on New Year's Day for a very special occasion issuing euros to citizens eager to get their hands on the country's new currency. The nation on Thursday became the 16th country
        AP  -  94 words
    • Article
      Lock icon BOA, Wells Fargo wrap up mergers
      617 21 Reuters Purchases of Merrill and Wachovia, valued at USs24b-plus and USsl2.7b respectively, completed by Thursday New York BANK of America Corp completed its purchase of Merrill Lynch Co and Wells Fargo Co finished buying Wachovia Corp, the latest sea changes in a transformed banking
      Reuters  -  617 words
    • Article, Illustration
      Lock icon 3-Ds, blockbusters to boost Hollywood fortunes in 2009
      644 21 Los Angeles A SLEW of quality movies and higher ticket prices helped Hollywood hold its own last year despite recession, while the new year promises more 3-D pictures and some big blockbusters to keep audiences coming in. Box office revenues in the
      REUTERS  -  644 words
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  • SGX
    • Article
      Lock icon Untitled
      2273 22 Transaction date: Jan 2 52 ligh ;z-wks Tel Low Code Company Last Sale Vol Day Last Quote C000) High Low Buyer Seller Div i C'vr GrYld Net P/E M Cap $mil 1.5 7 JO 10.5 9 4 !9 17.5 1 _8 53 !0.5 5 _5 !1 _3 18 4.5 0.5
      2,273 words
    • Article
      Lock icon Untitled
      3178 23 Transaction date: Jan 2 SZ-wks Tel ligh Low Code Company Last Sale Vol Day Last Quote C000) High Low Buyer Seller Div GrYld Net C'vr P/E M Cap Smil 17.9 7.5 5736 DMXTech 168 364 3505 DairyFarm 028 608 5401 Daiwa FT Shariah Jap 18.5 5.5 5824 Darco JS3 87
      3,178 words
    • Article
      Lock icon Untitled
      3277 24 Transaction date: Jan 2 SZ-wks Tel Last ligh Low Code Company Sale Vol Day Last Quote C000) High Low Buyer Seller Div C'vr GrYld Net M Cap P/E Smil '0 11.5 5105 Mercator 15.5 84 19 5810 Mermaid 22.5 19 32 3511 Metro Hldgs 36.5 ■3 40 1929 Micro-Mechanics 42
      3,277 words
    • Article
      Lock icon SGX CATALIST
      1552 25 SZ-wks Tel High Low Code Company Last Sale Vol ('000) Day High Low Last Quote Buyer Seller Div C'vr GrYld Net P/E M Cap Smil 10 5 1181 s AA Grp 52 16 8538 s APStrategic i.5 1 1501 s Advanced System 58 12.5 3518 s Afor >S
      1,552 words
    • Article
      Lock icon SECURITIES TRADING SCOREBOARD
      86 25 Up Down Unch 110 3 Up Down Unch 0 0 0 Up Down Unch 110 3 lulti Ind lanufacturini 65 20 39 73 21 48 'ommerce 27 14 16 28 15 18 /Stor/ /Comms 27 27 :inance 27 27 instruction 10 Tor 30 30 Hotels/ Services 31
      86 words
    • Article
      Lock icon SECURITIES TRADING TURNOVER
      262 25 STOCK PRICES LEGEND: Straits Times Index Stocks; s Catalist Non Sponsored; t Catalist; N Net or Tax-exempted dividend; ct Conditional Trdg xd ex-dividend cd cum dividend; cri cum right issue cbi cum bonus issue; xri ex-right issue; xbi ex-bonus issue xall ex-all; cdxa cum dividend ex-all co
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      Lock icon BT SHARE INFORMATION SERVICE
      823 25 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS For week beginning Dec 29 Trans Date Substantial Shareholder/ Director Buy Sell Conv No of Shares '000 Price Per Shr$ SHAREHOLDING Before After ('000) ('000) Trans Date Substantial Shareholder/ Director Buy Sell Cony No of Shares *000 Price Per Shr$ SHAREHOLDING Before After
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  • MARKETS
    • STOCK MARKETS
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        Lock icon Straits Times Index
        20 26 Source: YTD change: +3.87% 52-week high: 3,465.63 on Dec 31,2007 52-week low: 1,473.77 on Oct 28,2008 Bloomberg
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        Lock icon HangSeng Index
        19 26 Source: YTD change: +4.56% 52-week high: 27,853.60 on Jan 2,2008 52-week low: 10,676.20 on Oct 27,2008 Bloomberg
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        Lock icon Dow Jones Industrial Average
        25 26 YTD change: 52-week high: 13,364.70 on Dec 31,2007 52-week low: 7,449.38 on Nov 21,2008 (Chart shows Wednesday's index closing) Source: Bloomberg
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      • Article
        Lock icon MORGAN STANLEY CAPITAL INT'L INDICES
        364 26 Jan 01 dy yr dy yr dy yr Index Change Change Change Change Change Change World Index Preliminai 677.8 0.0 -40.1 0.0 -42.0 0.0 -42.1 EAFE Preliminai 649.2 0.0 -42.1 0.0 -45.0 0.0 -45.1 Euroi Preliminai 911.6 0.0 -40.9 0.0 -48.2 0.0 -48.2 Pacific 538.5
        364 words
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        Lock icon Shanghai Stock Exchange Composite
        25 26 Source: YTD change: 52-week high: 5,522.78 on Jan 14,2008 52-week low: 1,664.92 on Oct 28,2008 (Chart shows Wednesday's index closing) Bloomberg
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        Lock icon Nikkei 225
        23 26 Source: YTD change: 52-week high: 15,413.30 on Dec 28,2007 52-week low: 6,994.90 on Oct 28,2008 (Chart shows Tuesday's index closing) Bloomberg
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        Lock icon INTERBANK CURRENCY RATES
        144 26 Jan2\ :urrencies Bid >$/US$ to one unit of foreign currency: Australian dollar 1.0077 Offer Bid Offer 1.0096 0.6936 0.6941 :anadian dollar 1.1853 1.1872 0.8158 0.8162 iuro 2.0187 2.0215 1.3894 1.3897 IZ dollar 0.8382 0.8399 0.5769 0.5774 jterlini 2.1185 2.1217 1.4581 1.4586 IS dollar 1.4529 1.4546 >$/US$ to
        144 words
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        Lock icon LIFFE
        62 26 Dec 3p|| IOCOA (£/tonne) Close Prev Hi! jh/Low >terO9 1774 1770 1786/1753 >teyO9 1760 1755 1770/1745 lul 09 1762 1760 1770/1750 5epO9 1745 1730 1745/1720 COFFEE (US$/tonne) Close Pev High/Low Ian 09 1765 1717 1850/1720 SUGAR (US tonne) White Close Prey High/Low 1arO9 316.0 312.5 316.1/311.2 lay 09 326.3
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        Lock icon CHICAGO BOT
        101 26 Dec 3p| INS (5,0( 300 bu min; bushel Close Previous Hi, l/Low Ian 09 945.75 938.50 951.00 931.50 darO9 953.00 945.50 957.50 938.50 day 09 964.75 957.25 969.00 948.00 lul 09 976.25 968.50 980.50 962.50 SOYBEAN/OIL (60,000 lbs; usq/lb) Close Previous High/Low Ian 09 32.11 32.21 33.02 31.76
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        Lock icon OIL
        76 26 Dec 3p| CRUDE USS/barrel (FOB origin) Close Chang) Brent blend (1-Mth F) WTI (Near Mth) Dubai (1-Mth F) Tapis blend Minas 39.09 1.01 39.19 -0.7: 38.13 -0.9! 40.60 -1.1! 36.10 -1.1! PRODUCT USS/barrel (FOB Spore) Close Chang' ■re) Naphtha Jet Kerosene 31.81 uncl 55.80 uncl USS/barrel Opec Oil Basket
        76 words
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        Lock icon METALS
        73 26 Jan2\ GOLD (US$/oz) Dec 31 Jan 02 Hong Kong 867.50 872.70 868.50 873.70 Dec 30 Dec 31 London 870.45 closed 872.45 closed Source: Thomson Reuters SILVER Selling Buying Passbook 1 oz 16.3 16.07 Source: UOB PLATINUM Lon (US$/oz) Dec 31 Close Previous PM Fix 898.00 AM Fix 899.00 907.00
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        Lock icon PALM OIL
        58 26 Jan2\ lelivery fonth Opening Range Sett Price Av Price Law Vol Open Done Positioi Hi, Ian 09 1720 reb09 1711 \/larO9 1711 \prO9 1711 rotal o/p: ***** contracts 1737 1745 1720 1745 1750 1710 1740 1748 1706 1739 1745 1708 Turnover: 9647 lots Market tone: Higher 66 3036
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        Lock icon LONDON METALS
        66 26 Dec3j| tluminium, 99.75" mrity (US$/tonne; Close Previous lid /tonne; lose ■revious Cash 3 months Tin (US$/tonne; *****.00 *****.00 *****.01 *****.01 :ash 1 months :opper, Grade A 1507.80 1540.00 1460.80 1495.00 ;us$/tonne) lash J months ■ead (US$/tonne; 3041.80 3070.00 2882.50 2915.00 Cash 3 months Zinc, Special Hi; *****.00 *****.01
        66 words
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  • PERSPECTIVE
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      Lock icon Stories that make recession worse
      1307 27  -  Eric Weiner Negative news about the economy can erode consumer confidence By IF THE US Food and Drug Administration (FDA) regulated the media, it would require all stories about the economy to carry this warning: "Dizziness and pangs of existential angst may result. Do not
      1,307 words
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      Lock icon 2 lessons for America from economic crisis
      860 27  -  Harold Meyerson LAT-WP If you don't regulate something big, get ready to nationalise it; and who says the Civil War is over By TWO things Americans learned about our politics and our economy in 2008 Lesson One: If it's big and you don't
      LAT-WP  -  860 words
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  • Wealth
    • WEALTH INVESTING
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        Lock icon Retailers among '08's few gainers
        815 28 Bloomberg Just 8% of 1,693 stocks in MSGI World Index of 23 developed markets defy last year's stock-market rout New York BREWERS and tobacco growers boosted by takeovers as well as discount retailers were about the only winners in the worst stock market since the
        Bloomberg; BLOOMBERG  -  815 words
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        Lock icon BROKERS' TAKE
        628 28  -  Conrad Tan S'pore Technologies Engineering Buy DMG Partners Securities Jan 2 Close: $2.46 NEW contracts at integrated resort: Earlier this week, ST Engineering (STE) said its electronics unit ST Electronics has been awarded contracts worth $86 million from Resorts World at Sentosa (RWS) to provide an IT infrastructure
        628 words
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        Lock icon Not lost, temporarily misplaced
        1202 29  -  Roy Varghese Director, financial planning practice, ipac Singapore WEALTH INSIGHTS Here are some options for those in a quandary over how to get back to their investment path Director, financial planning practice, ipac Singapore NE of my greatest lessons in life was a result of getting
        Bloomberg. S&PSOO Index. Data as of 9 October 2006; FILE PHOTO  -  1,202 words
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        Lock icon Here are my new year resolutions ...
        1322 30  - Here are my new year resolutions Teh Hooi Ling SHOW ME THE MONEY and some ideas for making resolutions they help us focus on things that are within our control hooiling@sph.com.sg Senior correspondent I REALLY do get contemplative and sentimental around this time of the year. Perhaps struggling to come
        STOCK.XCHNG  -  1,322 words
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        Lock icon Why we are all Madoff investors
        909 31  -  James Saft The financial system as a whole may bear the characteristics of a Ponzi scheme if the increase in wealth is just illusory By IT WAS perhaps inevitable that we ended 2008, the year we learned we were up the creek, with a
        AFP  -  909 words
    • WEALTH REAL ESTATE
      • Article
        Lock icon It's a plane. It's a hostel. No, it's Jumbo Hostel
        739 32 AP Former Pan Am jumbo jet gets new lease of life as Swedish entrepreneur converts it into a hostel Stockholm, Sweden WHEN you exit Arlanda Airport on the highway toward Stockholm, you'll see a Boeing 747 on your left that
        AP  -  739 words
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        Lock icon When a price fall isn't a price fall
        1268 33  -  Kalpana Rashiwala SISV Services is fixing problem with caveats lodged for some subsale deals RIVATE home prices have fallen but in some cases, the drop may H^^^^^r not be as much as suggested by SISV Services' Realink database. Savills Singapore has spotted
        STOCK.XCHNG  -  1,268 words
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      189 32 OUT NOW The January issue of Pulses is out! Start the new year with the financial magazine produced by The Business Times. In this issue, we give you the lowdown on Singapore's stockbroking industry. Also, is it wise to bet on property equities? Are you ready to be a financial
      189 words
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  • Page 34 Miscellaneous
    • Miscellaneous
      Lock icon Page 34 Miscellaneous Column 1
      83 34 PARADISE REGAINED Jj; The best value-added, back-to-nature (&9s^Wi^t destinations in Asia 1.2-4 DINING Chain restaurants go upmarket 1.8-9 Michelin-star dining in Hong Kong lio-ii SHOPPING j/^+Ji Must-have gadgets for 2009 Ll2-13 ncHL 1 n Hot yoga with Bikram Choudhury Ll5 i^ NO HOLDS BARRED The Reds: so far, so good
      83 words
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  • BT Living
    • TRAVEL
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        Lock icon Paradise regainec
        1648 35  -  Audrey Phoon Audrey Phoon Audrey Phoon In what looks to be a difficult year ahead, it's travel without the trappings that holiday-makers need. BT Weekend explores several value-added destinations where some of life's most simple yet enjoyable pleasures pure white beaches, quiet time, unspoiled territory can be discovered
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        Lock icon To Putao and beyond
        850 36  -  Cheah Ui-Hoon Cheah Ui-Hoon Putao, Northern Myanmar Golden Triangle/Putao, Myanmar tour (March 28 to April 3, 2009) www.urbanenomads.com WHEN it comes to remote destinations, Putao, the capital of Kachin state, northeast of Myanmar, is reachable only by air. It's one of those ideal locations in travel
        850 words
    • HOME & GARDEN
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        Lock icon GEOMETRY AT PLAY
        1047 37  -  Geoffrey Eu personal space By T'S not so blatantly obvious as, say, the fabled pyramids at Giza or I M Pei's glass extension at The Louvre. But there's plenty of geometry at play, in Eugene Lai and Julie Lo's bright and breeze-filled modern home, on an elevated
        YEN MENG JIIN  -  1,047 words
    • ENTERTAINING
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        Lock icon Panning out well
        1121 39  -  Audrey Phoon Who says you need complicated equipment to cook good food? The Funky Chefs show how a little improvisation can go a long way. By YES WE CAN Out-of-the-box thinking has helped Melvyn Lee (left) and Anthony Yeoh pull through lots of sticky situations YEARS of
        PHOTOS BY YEN MENG JIIN  -  1,121 words
    • DINING
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        Lock icon CHAIN REACTION
        1180 40  -  Gerald ine Toh Audrey Phoon Having tasted success with mass-market restaurants, F&B owners are now moving onto boutique-concept establishments to woo foodies, BT Weekend takes a look at two which have recently opened. Chinese Box 1D Cluny Road (in NUS Law Campus) S 6219-7877 THE Chinese proverb tian
        1,180 words
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        Lock icon Just follow the stars
        1909 41  -  Jaime Ec destination dining: hong kong They have all been awarded Michelin stars, but do the following five Hong Kong eateries live up to the hype? By ANOTHER Michelin guide, another controversy. That seems to be the pattern with the world famous culinary guide ever since
        1,909 words
    • SHOPPING
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        Lock icon PACKED WITH GOODIES
        803 42 Sony Bravia ZXI LCD TV TELEVISIONS continue their relentless march towards increasingly wafer or should we say waif-ish thinness. Sony's new Bravia ZXI LCD TV is less than a centimetre thick at its thinnest point, and the company claims that's a record for 40-inch LCDs. Expect all
        803 words
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        Lock icon Discover the world
        583 43  -  Geraldme Ton There's more to the National Geographic store than the merchandise on sale. By IF you've ever fantasised about being an intrepid traveller on one of National Geographic's television programmes, you can indulge in a spot of role-playing at the National Geographic Society's Singapore retail store
        YEN MENG JIIN  -  583 words
    • HEALTH
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        Lock icon Some like it hot
        849 44 Bikram Choudhury, founder of Bikram yoga, is intent on capitalising on his system's so-called medical benefits, bringing what he says is a fresh angle to an ancient practice. By Genevieve Cua YOGA devotees are likely to turn their noses up at this variant of yoga where
        YEN MENG JIIN  -  849 words
    • SPORT
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        Lock icon The Reds – so far, so good this season
        679 45  - The Reds so far, so good this season Uma Shankari no holds barred By shankari@sph.com.sg FANS of the mercurial Reds will be familiar with the following succession of emotions when watching their favourite club play each season excitement and hope, followed by anger and then, ultimately, resignation. Excitement, because Liverpool
        REUTERS  -  679 words
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        Lock icon 2008's off-stage players of sports
        655 45 NYT New York FOR anyone still clinging to the illusion that sport can ever hope to disentangle itself from politics or economics, 2008 was a sobering year. It was a year in which politics and money loomed over sport. It was also a year in
        NYT  -  655 words
    • GOLF
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        Lock icon Looking to repeat a record year
        1184 46 Acushnet carries brands that are market leaders in their categories. This year it i< focusing on developing its existing business in the region. By Justine Moss FOR the 65 million or so golfers worldwide, there's plenty of choice when it comes to buying equipment,
        1,184 words
    • MOTORING
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        Lock icon THE BUMPY ROAD AHEAD
        1963 47 Tan Kheng Hwee GM of authorised Honda distributor Kah Motor Honda was the market leader in the first eight months of 2008 before Toyota regained the lead THE industry's sales volume will be down, not only because of the recession but because the COE quota will
        STOCK.XCHNG  -  1,963 words
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        Lock icon sweet 60
        535 48  -  Samuel Ee The Volvo XC6O is appealing with its unusual blend of trendiness and understatement By F you've always liked the ruggedly handsome Volvo XC9O but found it a bit too big and upright, you may find yourself attracted to the new XC6O. This crossover is the Swedish
        535 words
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      245 40 Exclusively at Cordon Grill 7 to 18 January 2009 Acclaimed Chef Michel Roux of The Waterside Inn, Bray, Berkshire, UK will be at Cordon Grill again, this time with his talented son Chef Alain Roux and a skilful team of 5, to enchant diners with his brand of classic French
      245 words
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      672 43 Wine^ Cline with BTWeekend Pine Court Chinese Restaurant spanning the world's best French restaurants drinks and lime juice) and Thursday to Level 35 Orchard Wins including Pierre Gagnaire and L'Atelier de Saturday: $65++ per person. Pan Pacific Singapore Meritus Mandarin Singapore Joel R°buchon in Paris, Troisgros in Roanne Festive Party
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