The Business Times, 6 January 2010

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Total Pages: 30
1 30 The Business Times
  • 24 1 THE BUSINESS TIMES S$1.00 online at http://www.businesstimes.com.sg S|Sl A SINGAPORE PRESS HOLDINGS PUBLICATION CO REGN NO *****2868E MICA (P) 123/08/2009 Wednesday, January 6, 2010
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  • 597 1  -  Chairman survives vote to stay on the board but company left without a CEO By JAMIE LEE [SINGAPORE] Questions over the resignation of the chief executive and a director at HG Metal Manufacturing on Monday dogged the company’s extraordinary general meeting (EGM) yesterday.
    CAROLINE CHIA/THE STRAITS TIMES  -  597 words
  • 802 1  -  Risk aversion was the story of the year, but some stock markets bucked the trend By JOYCE HOOI [SINGAPORE] The year gone by belonged to the emerging and, on occasion, the outright baffling. When Brazilian equities shot up 144 per cent in 2009, market
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  • 141 1 ST INDEX 2,920.28 (+25.73) ST INDEX FUTURES 2,920.0 (+26.00) SIMSCI 351.55 (+3.02) SIMSCI FUTURES 351.60 (+2.90) FOREX US$ S$ US$ (S$ per US$) 1.395 (US$/S$ per 1.609 2.245 EURO (US$/S$/E) 1.444 2.015 Foreign currency per US$ S$ YEN 91.90 65.90 RM 3.385 2.426 HK$ 7.757 5.561 BAHT 33.14
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  • Page 1 Advertisements
    • 129 1 FOOD Investors add spice to rising prices PAGE 4 LAND SALES Ten Mile Junction site up for sale PAGE 2 INVESTMENT RETURNS 2009 a bad year for Warren Buffett EXECUTIVE MONEY Global economic expansion ahead PAGE 30 PAGE 30 TransportHUB STRAIT TALK Make 2010 truly the Year of the Seafarer
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    • 3 1 8 '*****1 *****4
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  • TOP STORIES
    • 536 2  -  Several large deals in Australia, China and Japan give market a fillip By CONRAD TAN [SINGAPORE] Mergers and acquisitions (M&A) activity in Asia-Pacific rose slightly in 2009 compared to 2008 despite the financial crisis, boosted by several large deals in Australia,
      536 words
    • 451 2 LATEST US DATA Bloomberg [NEW YORK] The number of contracts to buy previously owned US homes fell more than forecast in November as Americans waited for a first-time buyer tax credit to be extended. The index of signed purchase agreements, or pending home
      Bloomberg; AFP  -  451 words
    • 504 2 An emerging theme, tinged with surprises THE year gone by belonged to the emerging and, on occasion, the outright baffling. When Brazilian equities shot up 144 per cent in 2009, market watchers probably didn’t bat an eyelid. But when the Sri Lankan market followed closely with a 119.6
      504 words
    • 370 2  -  US$300-400m facility plan put on hold last year because of global downturn By RONNIE LIM [SINGAPORE] Singapore Refining Company (SRC), with new partner Chinese oil giant PetroChina on board, has started design work on a “green” gasoline plant and cogeneration facility
      370 words
    • 533 2  -  By EMILYN YAP [SINGAPORE] The government has kick-started land sales for the year by putting up a residential site at the junction of Choa Chu Kang Road and Woodlands Road for tender the first on the H1 2010 confirmed list to be launched
      533 words
    • 912 4  -  FAO cites growing appetite of index funds, speculators for worsening spike By ARTHUR SIM [SINGAPORE] Global food prices are rising again with the United Nations Food and Agriculture Organisation (FAO) food price index hitting 168 points in November, the fourth consecutive month of
      AP  -  912 words
    • 376 4 It merges consumer and enterprise media businesses Reuters [LOS ANGELES] Dow Jones Co named a new executive team, and merged its consumer and enterprise media businesses in the largest shake-up at the company since it was bought by News Corp in 2007. Todd Larsen was named
      Reuters  -  376 words
    • 642 4 Search giant aims to broaden appeal of Android’s technology NYT AP [SAN FRANCISCO] Google Inc was expected to unveil late yesterday a rival to the iPhone, in a move to try to do what few other technology companies have done before: retain
      NYT; AP  -  642 words
  • Page 2 Advertisements
    • 1010 2 BEATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg PNE MICRON HOLDINGS LTD (Incorporated in the Republic of Singapore) (Company Registration Number: *****5909M) Registered Office: 996 Bendemeer Road #07-06 Singapore *****4 NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN THAT an Extraordinary General Meeting of the Company will be held at
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    • 425 2 IN THE MATTER OF THE COMPANIES ACT, (CHAPTER 50) PURSUANT TO SECTION 290(1 )(b) At a General Meeting of PACIFIC COATINGS PTE LTD (Company Registration No. *****2099R) duly convened and held at 9 Brookvale Drive, #01-13 Brookvale Park, Singapore *****2 on 30 December 2009, the following resolutions were duly passed
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  • Page 3 Advertisements
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  • Page 4 Advertisements
    • 193 4 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF CENTRAL EMPORIUM PTE LTD (Company No: *****2393N) (In Members' Voluntary Winding Up) NOTICE OF FINAL MEETING NOTICE is hereby given that pursuant to Section 308 of the Companies Act, Cap. 50 the Final Meeting of
      193 words
    • 21 4 LISTEN OUT FOR FINANCIAL RESULTS ANNOUNCEMENT Find out more about a company's financial performance through CATS Notices in The Straits Times.
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  • Page 5 Advertisements
    • 164 5 4 wj s rV M 4GGfi < W We have absolutely no experience in building big, heavy sedans. Fortunately. The new Panamera has arrived. For more information please visit www.porsche.com.sg A sportscar. With 4 doors and 4 seats. With the comfort of a sedan. And technology designed to reduce fuel
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  • COMPANY NEWS
    • 523 6  -  Troubled firm also re-appoints Raynauld Liang as head of finance By UMA SHANKARI MORE changes are underway at troubled Sino-Envi-ronment. Following Sunday’s announcement that its three executive directors (EDs) have quit, the company’s independent directors (IDs) who were then the sole remaining members of the board
      523 words
    • 360 6  -  By OH BOON PING BIOTECH company Transcu now hopes to penetrate the green-technology market in China, starting with agreements to distribute a fuel-efficient technology there. Transcu said yesterday it has partnered Delta Greentech (China) and Shanghai Timeast Offshore Oil Eng Tech to work on commercial
      360 words
    • 592 6  -  HOCK LOCK SIEW By ARTHUR SIM GENTING Singapore appears to be on a roll with its share price increasing from about $1.17 per share just before Christmas to hit almost $1.30 per share yesterday. This despite news that its junket business may be affected by
      RESORTS WORLD AT SENTOSA  -  592 words
    • 355 6  -  They risk suspension if no sponsor is found by Feb 5 By CHEW XIANG FOURTEEN Catalist-listed companies have yet to find a sponsor a month before the Feb 5 deadline, the Singapore Exchange said yesterday. Of the 154 Catalist companies, 101 have
      355 words
    • 378 8  -  First facility backed by Coface to be structured in Singapore dollars By VEN VEN SREENIVASAN IN A milestone deal, Tiger Airways has procured European Export Credit Agen-cy-backed financing for the purchase of two new aircraft. The deal is also the first
      BLOOMBERG  -  378 words
    • 193 8 Bloomberg [SHANGHAI] Tiger Airways Pte’s planned $200 million initial public offering (IPO) may be facing difficulties as investors are sceptical about its financial situation and near-term outlook, Standard Poor’s said. Tiger Air had to scale back the size of its Singapore IPO by more than
      Bloomberg  -  193 words
    • 388 8  -  Each ADR represents 30 shares; trading in OTC market By MICHELLE QUAH SINGAPORE-LISTED China Taisan Technology Group Holding Ltd has received the green light to establish an American Depositary Receipt (ADR) facility in the United States. The company said yesterday
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    • 304 9  -  The two contracts, for projects here and in China, are worth 60.6m yuan By TEH SHI NING MIDAS Holdings has clinched two contracts worth 60.6 million yuan (S$12.3 million) to supply to train manufacturers involved in rail projects in Singapore and China. The company
      304 words
    • 252 9  -  By VINCENT WEE OFFSHORE and marine engineering solutions provider EMS Energy has won a $2.5 million contract for an offshore pedestal crane in Vietnam, with an option to supply a second unit for an overall contract value of potentially $5 million. The deal,
      252 words
    • COMPANY BRIEFS
      • 49 9 GTL Infrastructure Ltd yesterday announced the sudden death of its director Prakash Samant. He died on Jan 2 at the age of 51. Mr Samant, who was appointed to the board in 2006, is survived by his wife and daughter, the company said.
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      • 111 9 JEL Corporation (Holdings) Ltd, a distributor of fast-moving consumer goods, IT, photographic, mobility products and timepieces, has been awarded distribution rights for the Fujifilm brand digital camera in more territories by Fujifilm Corporation. Appointed since July 2008 by Fujifilm Corporation to distribute its entire
        111 words
      • 69 9 PACIFIC Healthcare Holdings has announced the installation of a high-speed, low radiation dose heart CT scanner at its new centre, Pacific Healthcare Imaging. The SOMATOM Definition Flash CT scanner by Siemens provides high-level diagnostic imaging at much lower radiation doses than before, it
        69 words
    • 373 9  -  Company seeking $35m to fund regional expansion By KEITH CHEE TELEDATA is in talks with a private equity group to raise $35 million to fund its regional expansion. The mainboard-listed IT systems integrator and communications services group said yesterday that it has
      373 words
    • 336 9 It will purchase a 70% stake from owner Dhabi Group AFP [DHAKA] A bid by Indian telecoms giant Bharti Airtel to purchase Bangladesh’s fourth largest mobile phone operator Warid has been approved, regulators said yesterday. Abu Dhabi-based Dhabi Group, which fully owns
      AFP; BLOOMBERG  -  336 words
  • Page 6 Advertisements
    • 1443 6 MATS NOTICES Toll free: 1800-289-8822 Email: notices@sph.com.sg H AMPLEFIELD LIMITED (Incorporated in the Republic of Singapore Company Registration No. *****0188N NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that an Annual General Meeting of Amplefield Limited ("the Company") will be held at Swissotel Merchant Court Singapore, Merchant Court Ballroom,
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  • Page 7 Advertisements
    • 299 7 whychoose.sg WSrm^^FvrKQ/ Style OR Substanc Love ok Lujst Beauty JFZZ., mcSSe Life makes you choose. The all-new Kia Sorento doesn't. In a world that's full of difficult choices, the Kia Sorento offers a taste of freedom. Because no matter what your choices are, it is everything you want. Test drive
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  • Page 8 Advertisements
    • 1279 8 MATS NOTICES CRAFT PRINT INTERNATIONAL LIMITED (Incorporated in Singapore) (Co. Reg. No. *****1572K) NOTICE OF ANNUAL GENERAL MEETING 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 Friday, 22 January 2010 at
      1,279 words
    • 530 8 BUY IT-SELL IT-FIND IT MATS Toll free: 1800-289-8822 Email: notices@sph.com.sg NOTICES Kf NDEIiA CHINA KANGDA FOOD COMPANY LIMITED (Incorporated in Bermuda with limited liability) (Hong Kong Stock Code: 834) (Singapore Stock Code: P74) NOTICE OF SPECIAL GENERAL MEETING NOTICE IS HEREBY GIVEN THAT a special general meeting (the "SGM") of
      530 words
    • 704 8 IN THE MATTER OF THE COMPANIES ACT, CAP 50 AND IN THE MATTER OF DUCHESS INVESTMENT PTE LTD Co. Registration No. *****3966E IN MEMBERS'VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the above named Company held at 170 Upper Bukit Timah Road #18-04 Bukit Timah Shopping Centre, Singapore *****9 on
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  • Page 9 Advertisements
    • 113 9 r -.'.-JcsEa iMBr m IIM Get your copy from any Spinelli outlet at $5.50 and get a complimentary Spin or Latte! Janurary Issue out now! DOWN BUT NOT OUT! Where to put your money in the new year. Rebuilding retirement funds in the wake of the financial storm. Find out
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    • 130 9 UCLA fpNUS SPRING Nat ona University Singapore w) National University Singapore Enabling Enterprise FX6CU"ti\/6 M R A S$42,500 Funding Support* on Tuition Fees for Qualifying SMEs *Terms and conditions apply This busy Medical Director travels extensively yet is able to achieve Two World-Class MBAs in 15 Months. Dr Cyril Toma
      130 words

  • SINGAPORE MARKETS
    • 892 10  -  A$, NZ$ and C$ lead way against safe-haven currencies yen and greenback CURRENCIES OH BOON PING Reporter A TRILOGY of strong manufacturing surveys has woken the bulls from a near month-long hiatus. And predictably, cyclical and commodity currencies have staged a rebound
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    • 186 10 MAIN SDQ TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 12 2 4 0 0 0 12 2 4 Manufacturing 105 35 63 8 6 11 113 41 74 Commerce 39 16 17 9 1 5 48 17 22 Tpt/Stor/Comms 22 8 10
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    • BROKERS’ TAKE
      • 363 10 Jan 5 close: $2.62 KIM ENG RESEARCH, Jan 5 TUNG Lok announced last night that they will operate and provide food beverage services to two staff cafeterias at Resorts World Sentosa. However, we expect negligible impact on SATS as we have not included potential contributions
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      • 460 10  -  Jan 5 close: $1.93 DBS GROUP RESEARCH, Jan 5 Compiled by JOYCE HOOI WE ESTIMATE $160-185 million (DPS of 18-21 cents) from potential capital management exercise. In the past, M1 has returned excess cash regularly to its shareholders except for 2008 and 2009, when capex was higher due
        460 words
    • 123 10 TURNOVER (‘000) VALUE (‘000) MAIN SDQ TOTAL MAIN SDQ TOTAL Multi Ind 61,822 61,822 133,670 133,670 Manufacturing 727,792 42,430 770,222 511,429 2,608 514,036 Commerce 265,557 34,807 300,364 164,658 6,854 171,513 Tpt/Stor/Comms 223,147 16,556 239,703 302,549 3,509 306,058 Finance 34,881 54 34,935 179,456 4 179,461 Construction 253,445 21,433
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    • 564 10  -  STOCKS R SIVANITHY Senior Correspondent AN ACTIVE trading day yesterday ended with the Straits Times Index adding 25.73 points at 2,920.28 and turnover crossing the $2 billion mark for the first time since mid-October. Some 3.2 billion units worth $2.4 billion were done,
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    • 113 10 Stock name Close Change Stock name Close Change CapitaLand 4.280 +0.080 CapitaMall 1.840 +0.040 CityDev 12.040 +0.500 ComfortDelGro 1.640 +0.020 Cosco Corp 1.270 +0.040 DBS Grp 15.500 +0.200 F&N 4.290 +0.070 Genting SP 1.280 -0.010 Golden Agri 0.540 +0.025 HK Land 4.940 -0.020 JMH 29.840 -0.160
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    • 4 10 DAILY
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    • 66 10 Jan 5 VALUE CLOSE BT OB/OS 1153.00 +270.0 BT CADI -*****.00 +253.0 BT 10-day MA -*****.00 +115.0 FTSE ST Mid Cap 715.44 +10.22 FTSE ST Small Cap 570.01 +8.72 FTSE ST All Share 723.41 +7.23 FTSE ST China Top 292.07 +4.60 FTSE ST China 308.28 +1.48 FTSE
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    • 54 10 VOLUME Golden Agri 156,241,000 Genting SP 122,849,000 UniFiber 105,133,000 Healthway 101,560,000 EMS Ener 70,046,000 Midas 65,133,000 ChinaKunda 64,642,000 Oceanus 62,946,000 AusGroup 53,552,000 China XLX 41,972,000 VALUE($) Genting SP 158,489,780 Wilmar 142,578,195 CapitaLand 88,394,260 Keppel Corp 83,796,166 Golden Agri 83,470,540 SingTel 78,536,130 CityDev 64,057,234 Midas 63,228,030 NOL 59,093,730
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    • 110 10 BY CENTS CLOSE UP DBXT Nifty 10US$ ***** 372.3 2.4 GLD 10US$ ***** 211.9 1.4 DBXT FTChina25 10US$ 3145 195.2 4.7 DBXT FTVietnam 10US$ 4795 167.3 2.6 Lyxor Europe 10 US$ 1307 83.7 4.8 Lyxor China H 10US$ 1693 76.7 3.4 DBXT MSKorea 10US$ 4795 58.6 0.9 CityDev.ES.1001 1204
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    • 121 10 BY CENTS CLOSE DOWN DBXT S&P Short 10US$ 5334 -29.3 -0.4 JSH 1750 -25.1 -1.0 JMH 2984 -22.3 -0.5 SIA 1490 -16.0 -1.1 DBS Bk 6% NCPS 10 ***** -10.0 -0.1 CerebosPac 428 -7.0 -1.6 Cityneon 44.5 -7.0 -13.6 SATSvcs 262 -7.0 -2.6 STI 2600BNPePW*****8 1.5 -7.0 -82.4 SIA
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    • 87 10 Where S$ stands Jan 5 CHNG YR 2010 CLOSE FR Jan 4 S$ LOW S$ HIGH US$ 1.3958 0.21 1.4044 1.3956 Euro 2.0132 -0.13 2.0133 2.0102 Pounds 2.2436 0.89 2.2687 2.2391 A$ 1.2767 -0.84 1.2768 1.2617 Yen* 1.5185 -0.72 1.5188 1.5047 Rupiah* 0.***** -0.85 0.***** 0.***** Baht* 4.2118 0.12
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  • SINGAPORE NEWS
    • 471 11  -  Another 1,500 units to come in February; some 12,000 could be offered this year By EMILYN YAP THE Housing and Development Board yesterday launched two build-to-or-der (BTO) projects at Choa Chu Kang and Hougang, offering 1,291 flats. The agency plans to release another 1,500
      471 words
    • 465 11  -  Phased opening planned as it waits for casino licence By ARTHUR SIM TECHNICALLY, Resorts World at Sentosa (RWS) can now open for business as it has received TOP (temporary occupation permit) from the authorities. It also has more than 6,000 staff on
      465 words
    • 367 11  -  By FELDA CHAY THE region will soon be a hub for complex manufacturing activity, and Singapore aims to be its apex by becoming a centre for precision engineering. And to that end, the local precision engineering community has to differentiate itself from other regional players
      367 words
    • 405 11  -  Asking price for the units said to start from $2,500 psf By EMILYN YAP PREVIEWS are open for only multiple unit purchases, yet this project is already drawing interest pointing towards better days for the high-end residential market. Urban Suites, located at the former
      405 words
  • Page 11 Advertisements

  • ECONOMY WATCH
    • 576 12 MNCs have been paying less tax by moving functions to lower-rate jurisdictions NYT [NEW YORK] While the recession may be ending across much of the world, its effect on revenue collectors and corporate tax returns will last much longer. Tax inspectors had already been
      NYT  -  576 words
    • 562 12 AP Bloomberg [TOKYO] Japan’s elderly finance minister offered to resign due to health reasons, a report said yesterday. Finance Minister Hirohisa Fujii, 77, told Prime Minister Yukio Hatoyama he would like to step down, Kyodo News agency said, citing no sources. A spokesman
      AP; Bloomberg; REUTERS  -  562 words
    • 457 12 AP [RALEIGH, North Carolina] US consumers and businesses are filing for bankruptcy at a pace that made last year the seventh-worst year on record. According to an Associated Press tally, more than 1.4 million bankruptcy petitions were submitted. The AP gathered
      AP; AFP  -  457 words
    • 415 12 Bloomberg [LUXEMBOURG] European inflation accelerated in December to the fastest pace in 10 months on surging energy costs. Consumer prices in the 16-nation euro region rose 0.9 per cent from a year earlier after increasing 0.5 per cent in November, the
      Bloomberg  -  415 words
    • 321 12 Reuters [WASHINGTON] The International Monetary Fund’s (IMF) economic forecasts this month are likely to show “somewhat more upbeat expectations” about the world economy, a senior IMF official said on Monday. John Lipsky, the first deputy managing director, wrote in an IMF blog that the
      Reuters  -  321 words

  • MALAYSIA/INDONESIA
    • 454 13  -  A report says capital requirements are likely to be more stringent by 2012 By in Kuala S JAYASANKARAN MORE stringent capital requirements for banks worldwide in the future are unlikely to significantly impact Malaysian banks which are already adequately capitalised, according to a January
      BLOOMBERG  -  454 words
    • BRIEFLY ASIA
      • 85 13 AFP [LIMA] Peru’s free trade agreement with China will go into effect on Jan 15, two weeks ahead of schedule, Trade Minister Martin Perez said on Monday. The pact was signed in April and ratified last month. “In principle, we calculated the trade
        AFP  -  85 words
      • 81 13 Reuters [BEIJING] Agricultural Bank of China yesterday denied a report that it was aiming for a US$22 billion initial public offering (IPO) as early as April. Vice-president Pan Gongsheng said that AgBank, the only one of China’s big state banks yet to float shares, aimed to
        Reuters  -  81 words
      • 79 13 Reuters [HONG KONG] Indian drug maker Cipla Ltd is in talks with drug companies including GlaxoSmithKline and Israel’s Teva to supply generic drugs, its chairman said on Monday. Cipla, India’s second largest pharmaceutical company by market value, has been in negotiations with GlaxoSmithKline for six
        Reuters  -  79 words
    • 231 13 Bernama [JAKARTA] While the rates of additional tariff lines are being reduced to zero under the Common Effective Preferential Tariffs for the Asean Free Trade Area (CE-PT-AFTA) as of January 2010, Indonesia is seeking to re-negotiate the rates of at least 455
      Bernama  -  231 words
    • 451 13  -  By PAULINE NG in Kuala Lumpur SHARES of Malaysian construction companies rose yesterday on hopes that India’s planned rollout of US$40 billion of new highways over the next two years will lift order books. Viewed as the best construction proxy in India,
      451 words
  • Page 13 Advertisements
    • 157 13 ou've tisin transpare Let The Nominations Begin Excellent corporate governance. High corporate disclosure standards. And an open policy of transparency. The 5th Singapore Corporate Awards recognises listed companies and individuals who have done their part to raise Singapore's corporate standards. The SCA comprises five categories and nominations are now open
      157 words

  • GREATER CHINA/INDIA
    • 573 14 Keeping inflation low an objective of monetary policy: central bank chief Reuters [BEIJING] Chinese banks must carefully pace their lending this year because heavy issuance of loans amid industrial overcapacity has created growing credit risks, China’s central bank governor Zhou Xiaochuan said in comments
      Reuters; REUTERS  -  573 words
    • 612 14 Reuters [MUMBAI] An adjustment in Indian policy interest rates is not warranted for now but liquidity tightening may be needed, the prime minister’s economic adviser said ahead of a central bank policy meeting later this month. The adviser, C Rangarajan, does not have
      Reuters  -  612 words
    • 398 14 Analysts think it will continue to hold the currency stable Reuters [BEIJING] China’s yuan is facing a new round of appreciation pressure and expectations of a stronger currency will attract speculative capital inflows, complicating liquidity management, a senior official said in comments published
      Reuters  -  398 words
    • 613 14 AFP [BEIJING] Du Lala is a brash, 30-something Chinese woman who successfully breaks the glass ceiling in the macho corporate world. She is also the title character in a novel that has been a breakout literary hit in China and an unofficial handbook for ambitious career
      AFP  -  613 words
    • 402 14 AP [TAIPEI] Taiwanese lawmakers voted yesterday to ban imports of some kinds of US beef over concerns about mad cow disease, reversing an earlier deal the government had negotiated with Washington. The legislature’s move to reinstate a ban on US ground beef and
      AP  -  402 words

  • FOCUS: BOUNCING BACK
    • 985 15 There’s a lot of debate now about the clarity of economic indicators and the staying power of apparent improvements in the US NYT [NEW YORK] SIGNS of revival on the factory floor emerged in the United States and Asia on Monday, fuelling exultant buying on
      NYT; REUTERS  -  985 words
    • 1052 15 Political risk consultancies are warning that 2010 may hold nasty surprises Reuters [SINGAPORE] Asia is leading the world out of global recession, but the financial crisis may yet have a dangerous sting in the tail the risk of social unrest as
      Reuters; REUTERS  -  1,052 words

  • ASIA-PACIFIC/WORLD
    • 639 16 The board of Japan’s third largest bank meets today to approve fundraising Reuters [TOKYO] Sumitomo Mitsui Financial Group (SMFG) plans to raise up to US$8.7 billion by issuing new shares to meet stricter capital requirements and for potential acquisitions in Asia, people with knowledge of
      Reuters; BLOOMBERG  -  639 words
    • 427 16 But nervous investors dump shares in key units of troubled firm Reuters [SEOUL] South Korea’s troubled Kumho Asiana Group unveiled plans yesterday to raise more than US$1.1 billion from asset sales and cut jobs in a self-initiated restructuring. But nervous investors were
      Reuters; REUTERS  -  427 words
    • 504 16 Reuters [LONDON] Oil prices edged up towards US$82 a barrel yesterday, rising for the ninth straight session, as cold snaps in key consumers the United States and Europe boosted demand for heating fuel. US oil inventory data from the American Petroleum Institute (API)
      Reuters  -  504 words
    • 555 16 Bloomberg [REYKJAVIK, Iceland] Iceland’s President Olafur Grimsson yesterday blocked a depositor accord with Britain and the Netherlands that lawmakers passed last week, threatening to undermine the island’s efforts to repair international relations. “The cornerstone of Iceland’s constitution is that the nation is the highest
      Bloomberg  -  555 words
    • 460 16 Bloomberg [NEW YORK] Brian T Moynihan, Bank of America’s (BOA) chief executive officer, said the recession’s impact is fading and the bank’s biggest acquisitions are over, allowing him to focus on rebuilding relationships with customers. “The worst is behind us in the sense
      Bloomberg  -  460 words

  • WORLD
    • 639 17 TIAA-CREF’s move may put pressure on PetroChina, CNPC, Sinopec and ONGC Reuters [BOSTON] TIAA-CREF, the non-profit firm that manages US$402 billion, has sold stakes in a group of Asian energy companies over human rights concerns in Sudan. The sales of
      Reuters  -  639 words
    • 402 17 Bloomberg [NEW YORK] The acquisition prices for US start-ups climbed to a level last seen before the financial crisis as bigger companies snapped up Internet firms and software makers, a venture capital trade group said. The average price of the 36 deals last
      Bloomberg  -  402 words
    • 313 17 Bloomberg [LOS ANGELES] Colliers International and FirstService Real Estate Advisors said they will combine their operations, making the newly formed company the third-largest provider of commercial real estate services worldwide. The company, which will operate as Colliers International, will have more than 15,000 employees in
      Bloomberg  -  313 words
    • 495 17 LAT-WP [WASHINGTON] The Internal Revenue Service plans to test, register and screen people who get paid to prepare tax returns, stepping into a virtually unregulated business on which millions of Americans depend for crucial financial services. The agency wants to crack down
      LAT-WP; REUTERS  -  495 words
    • 554 17 Move follows sale of pizza business to Nestle for US$3.7b AP [LONDON] Kraft Foods improved its hostile takeover offer for British chocolate and gum maker Cadbury after selling its North American pizza business for US$3.7 billion to Nestle. The sweetened term came as Nestle
      AP; AP FILE PHOTO  -  554 words
    • 444 17 Reuters [CHICAGO] US options volume hit a record last year, underscoring the growing appeal of investors hedging their bets and generating income with options in a year when the stock market ended with its best gains since 2003. A total of 3.61 billion
      Reuters  -  444 words

  • FOCUS: SEC
    • 2519 18 In her first year in office, Mary Schapiro has found that issuing proposals to remake the agency is easier than finalising them Bloomberg [WASHINGTON] THE US Securities and Exchange Commission has named Carlo di Florio, a partner at audit firm PricewaterhouseCoopers LLP, to oversee inspections
      Bloomberg; PHOTOS: BLOOMBERG  -  2,519 words

  • Transport HUB
    • 913 19  -  STRAIT TALK By DAVID HUGHES I SUPPOSE we should have known that the Somali pirate gangs, oblivious to the irony of the situation, would have launched the International Maritime Organization (IMO)’s Year of the Seafarer by kidnapping 49 seafarers. As bad starts
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    • 355 19 Bloomberg [LONDON] The surplus of supertankers competing to ship two million barrel cargoes of Middle East crude oil expanded as ship demand slowed. There are about 18 per cent more very large crude carriers, or VLCCs, for hire over the next 30 days
      Bloomberg  -  355 words
    • 1355 19  -  The current ‘lull’ is a chance for the government, players, to invest in new areas of innovation, reports LIM TECK CHENG LIM TECK CHENG The writer is chief executive, Hong Lam Marine SINGAPORE is the world’s busiest bunkering port, having held this title since records
      BLOOMBERG  -  1,355 words
    • 88 19 Bloomberg [DUBAI] DP World Ltd, the port operator whose parent Dubai World is restructuring debt, said it bought Royal Dutch Shell plc’s remaining stake in its planned London Gateway port project for £136 million (S$304 million). DP World also decided to proceed with the
      Bloomberg  -  88 words
    • 286 19 SGX '000 Jan 5 S$ +/-Vol CH Offshore 0.70 0.02 6335 Chuan Hup Hldgs 0.35 unch ***** Cosco Corp 1.27 0.04 ***** CWT Ltd 0.85 -0.01 5149 Ezra Hldgs 2.37 0.02 5849 First Ship Lease 0.60 unch 960 Freight Links 0.05 0.01 8540 Grand Banks unch unch 0
      286 words
    • TRANSPORT HUB: AVIATION
      • 564 20 Airbus has been in tense negotiations with Nato buyers for months over the future of the plane Reuters [PARIS] Airbus set itself on a possible collision course with the German government yesterday by signalling it was ready to walk away from a delayed
        Reuters  -  564 words
      • 900 20 NYT [WASHINGTON] The Obama administration’s decision to mandate extra scrutiny including fullbody pat downs for people flying into the United States from 14 mostly Muslim countries provoked criticism from foreign officials and scepticism from some security experts that the measures would
        NYT; BLOOMBERG  -  900 words
      • 3002 20 CITY FLIGHT ETA FLIGHT ETD Abu Dhabi EY470 2200 SQ456 1245 Adelaide LH9771 1740 9W4082 2215 SQ268 1740 AF8088 2215 VS7268 1740 BA7382 2215 JL5083 2215 QF82 2215 --LH9770 2350 SQ269 2350 VS7269 2350 Ahmedabad AI7200 0710 NH6293 0710 SQ531 0710 Amsterdam KL145 0010 KL146 0150
        3,002 words
      • 132 20 Reuters [BANGKOK] The executive chairman of Thai Airways International, Wallop Bhukkanasut, submitted his resignation yesterday after a scandal caused by reports he had evaded hefty excess baggage charges. “He has volunteered to resign with immediate effect,” Transport Minister Sopon Zarum told Reuters, adding that it was
        Reuters  -  132 words
      • 222 20 AFP [LONDON] The British government said yesterday it was working to allay fears that body scanners being introduced at airports would break laws against creating indecent images of children. Prime Minister Gordon Brown said this week Heathrow and other British airports will introduce body
        AFP  -  222 words
    • TRANSPORT HUB: LAND
      • 751 21  -  But authorised distributors of Korean, European brands benefit By SAMUEL EE IT was a year which saw the new car market register a few surprises as some brands zoomed up the sales charts while some went speedily downhill. Among authorised distributors, there
        751 words
      • 451 21  -  By SAMUEL EE TWO Korean models have broken into Singapore’s top 3 for the first time in 2009. The Hyundai Avante is the No 1 model, displacing 2008’s Honda Civic, which was priced out of contention by the rising Japanese yen. The Avante’s
        FILE PHOTOS  -  451 words
      • 648 21 LAT-WP [WASHINGTON] General Motors sales in China surged 67 per cent last year, the company announced on Monday, as the automaker and its joint ventures exploited rising affluence there to sell more than 1.8 million cars and trucks. GM, already among the
        LAT-WP  -  648 words
      • 736 21 Honda also unveils compact car for emerging markets Reuters [NEW DELHI] Toyota Motor Co, seeking to draw a line under a dire 2009, is ramping up in India with the launch of a new low-cost compact car to tap the fast-growing market.
        Reuters; AP  -  736 words

  • Page 20 Miscellaneous
    • 323 20 CRYPTIC CROSSWORD Across 1 Stunning wine put into wrong glass at first (8) 9 Church by West Coast city to charge rent (8) 10 Decide against revealing a personal view (4) 11 Of South American extraction, gets very much heated (12) 13 People must be mad to go off them
      323 words


  • EDITORIAL & OPINION
    • 504 22 EDITORIAL ALTHOUGH the global economy ended 2009 on a better note than it began the year, it would be premature to pronounce the coast as clear for 2010. As with a patient who has just recovered from an acute and serious illness,
      504 words
    • 765 22  -  THE BOTTOM LINE FRANK CHING The writer is a Hong Kong-based journalist and commentator ON Dec 30, the International Trade Commission, which arbitrates trade disputes between the United States and other countries, imposed tough new duties on Chinese steel piping
      765 words
    • 961 22  -  Potentially lethal blows to anaemic recovery include failed exit strategies, trade friction STEPHEN ROACH The writer is chairman of Morgan Stanley Asia and author of ‘The Next Asia’. Bloomberg WHERE there was despair a year ago, today there is hope. Policy makers have been
      Bloomberg; REUTERS  -  961 words
    • 978 23  -  LEON HADAR Washington Correspondent FEDERAL Reserve chairman Ben Bernanke insists that more effective federal regulation of the financial industry and not using the central bank’s tool of higher interest rates in order to burst potential asset bubbles is the
      978 words
    • 1310 23  -  With the financial crisis almost over, the next generation of economists needs to figure out how things went so wrong By NEIL IRWIN LAT-WP FOR most of the last 70 years, the US economy has grown at a steady clip, generating perpetually higher incomes and wealth
      LAT-WP; AFP  -  1,310 words


  • SINGAPORE STOCKS
    • 9060 24 Transaction date: Jan 5 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 18 3 3148 8Telecom 17.5 +0.5 877 17.5 17 17 17.5 5 0.6 31.8 83.8 9.5 2.5 5834
      9,060 words
    • 1753 25 52-wks Tel Last Vol Day Last Quote Div Gr Yld Net M Cap High Low Code Company Sale +/-(‘000) High Low Buyer Seller C’vr P/E $mil 10 6 1181 s AA Grp 7 6 8.5 6.7 25 12 8538 t APStrategic 17 15 17 100.3 4 0.5 1501
      1,753 words
    • 9255 25 UNIT TRUSTS FUNDS UNIT TRUSTS AIG Global Investment Corporation (S) Ltd AIGIF Acorns of Asia Balanced Fund!& 2.21/ AIGIF S'pore Bond Fund✓^ 1.384/ APS Asset Mgt Pte Ltd APS Alpha Fund!** 1.2/ APS Alpha Fund (USD)!** 0.86/ AXA Life Secure Ascent 2020 Fund 0.*****/0.***** AXA Wealth Mgt S'pore Pte Ltd
      9,255 words
    • 453 25 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 111 107 6389 ABF SG Bond ETF 110 107.6 110 502.1 841 427 CIMBAsean40 100US$ US840 +10 320 841 836 835 840 33.6 296
      453 words
    • 265 25 52-Wk Tel Last Vol Day Last Quote Div GrYld Net MCap High Low Code Company Sale +/-(’000) High Low Buyer Seller C’vr P/E $mil 56 20 6000 AVJennings A51.5 +4.5 14 51.5 50 51.5 52.5 3.6 6.8 4.1 134.1 31 6 6017 Genting HK US$ US26 unch 3180
      265 words


  • FINANCE & COMMODITIES
    • 365 26 In local curr In S$ In US$ dy yr dy yr dy yr Jan 4 Index Change Change Change Change Change Change World Index Preliminary 844.6 1.4 24.6 1.3 25.4 1.8 29.2 EAFE Preliminary 795.3 1.3 22.5 1.5 26.3 1.9 30.2 Europe Preliminary 1143.8 1.7
      365 words
    • 181 26 Jan 5 RUBBER Futures (Closing prices) RSS 3 (US cents/kg) Close Volume O/I Month High Low Sett (lots) (lots) Feb 10 298.0 297.0 297.5 54 809 Mar 10 299.0 614 Apr 10 299.7 450 May 10 301.5 730 Jun 10 303.0 303.0 303.0 40 650 Jul 10 303.0
      181 words
    • 90 26 Jan 5 TREASURY BILLS Period Issue Maturity Yesterday's Day's code Bid High Low 3-Month BQ*****V 08.04.2010 0.59 0.53 0.53 1-Year BY*****N 01.11.2010 0.60 0.58 0.58 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NX*****H 3.625 01.07.2011 104.41 104.46 104.40 5-Year N*****0N 1.375
      90 words
    • 132 26 Jan 5 As at 9am Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2660 1.3030 Can dollar 1.3350 1.3500 Euro 2.0040 2.0260 NZ dollar 1.0180 1.0390 Sterling pound 2.2400 2.2640 US dollar 1.3890 1.4040 Local dollars to 100 units of foreign
      132 words
    • 177 26 Jan 5 $S Offer Bid Overnight 1/8 1/16 1-month 7/16 3/16 2-months 9/16 5/16 3-months 11/16 7/16 Overnight mode: 1/8 US$ Offer Bid 7 days 0.23 0.18 1 month 0.28 0.23 2 months 0.35 0.25 3 months 0.37 0.27 6 months 0.53 0.43 9 months 0.90 0.70 12
      177 words
    • 2370 26 BONDS, WARRANTS EXTENDED SETTLEMENT Prem Expiry Tel Last Vol Conv Exer Disc Gear-Mths Code Company Sale +or-('000) Ratio Price ing Left Asia-Pacific Strategic W*****6 3 1 15 6 5.67 52 2036 Advance SCT Ltd W*****9 0.5 1 87 1650 10.00 7 8756 Asiatic Grp (H) Ltd W*****2 10 1 6
      2,370 words
    • 66 26 Jan 5 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Jan 10 2629 2630 2635 2616 447 2247 Feb 10 2654 2660 2673 2644 1236 ***** Mar 10 2685 2682 2703 2673 7651 ***** Apr 10 2690 2700
      66 words
    • 22 26 Jan 5 S$ Bid Offer 1-month 1.3946 1.3960 2-months 1.3950 1.3964 3-months 1.3953 1.3967 6-months 1.3960 1.3975 Source: OCBC
      22 words
    • 29 26 Jan 5 Open High Sett STI Jan 2915 2915 2920 SIMSCI Jan 348.6 352.1 351.6 Taiwan Jan 294.6 298.1 295.4 Source: MF Global (S) Pte. Ltd
      29 words
    • 85 26 (US$) (S$) 1 mth 0.***** 0.***** 2 mths 0.***** 0.***** 3 mths 0.***** 0.***** 6 mths 0.***** 0.***** 9 mths 0.***** 0.***** 12 mths 0.***** 0.***** SWAP Offer rates (S$) 1 mth 0.***** 2 mths 0.***** 3 mths 0.***** Jan 5 6 mths 0.***** 9 mths 0.***** 12 mths
      85 words
    • 6995 27 BALISA SHIPPING TRADING PTE LTD 8 Shenton Way, #40-03A, Singapore *****1 Tel: 6345 5700 Fax: 6345 5227 Email: singapore@balisagp.com CR NO. **********0W GLOBAL SERVICE CONVENTIONAL BREAKBULK UK CONTINENT SERVICE U.S.A SERVICE Destination STXPO TBN RTM/ANR/TIL Loads Singapore, E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE Destination STXPO TBN
      6,995 words
    • 346 26 Jan 5 OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES Mar10 99.6600 0 ***** Jun10 99.3900 0 7858 Sep10 99.0150 0 2836 Dec10 98.6100 0 3801 EUROYEN TIBOR FUTURES Mar10 99.6100 99.6100 99.6050 99.6050 50 3907 Jun10 99.6500 99.6500 99.6500 99.6400 0 1729 Sep10 99.6600 0 1666
      346 words
    • 465 26 Jan 5 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.948 6.233 0.632 7.081 42.135 84.854 0.839 10.412 3.090 1.244 77.327 41.920 1.273 6.639 0.939 29.071 30.249 0.567 0.913 Canada 1.055 6.576
      465 words
    • 141 26 GOLD (US$/oz) Jan 04 Jan 05 Hong Kong 1107.30 1125.10 Jan 04 Dec 31 London 1122.15 1097.00 1122.95 1098.00 Source: Thomson Reuters CAST BAR Jan 05 (S$) Selling Buying Kilobar "54,052.12" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 120.91 50 5gm 343.47 252 10gm 614.18 504 20gm
      141 words
    • 154 26 Jan 5 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.2725 1.2743 0.9127 0.9131 Canadian dollar 1.3425 1.3446 0.9629 0.9635 Euro 2.0136 2.0159 1.4443 1.4445 NZ dollar 1.0225 1.0242 0.7334 0.7339 Sterling pound 2.2434 2.2462 1.6091 1.6095
      154 words
    • 69 26 Jan 4 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2232.75 2197.00 3 months 2267.00 2230.00 Copper, Grade A (US$/tonne) Cash 7466.25 7342.00 3 months 7500.00 7375.00 Lead (US$/tonne) Cash 2484.25 2402.00 3 months 2515.00 2432.00 Nickel (US$/tonne) Cash *****.00 *****.00 3 months *****.00 *****.00 Tin (US$/tonne) Cash *****.00
      69 words
    • 105 26 Jan 4 SOYBEANS (5,000 bu min; US cents/60 lb bushels) Close Previous High/Low Jan 10 1049.50 1039.75 1065.50 1041.25 Mar 10 1058.00 1048.50 1074.75 1050.00 May 10 1062.50 1053.75 1078.00 1054.75 Jul 10 1067.00 1059.25 1082.00 1059.75 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low Jan 10 40.90 40.35 41.50
      105 words
    • 78 26 Jan 4 COCOA (£/tonne) Close Prev High/Low Mar 10 2222 2250 2246/2205 May 10 2242 2271 2267/2226 Jul 10 2222 2246 2245/2208 Sep 10 2186 2200 2202/2168 COFFEE (US$/tonne) Close Pev High/Low Jan 10 1321 1294 1334/1300 Mar 10 1364 1332 1380/1337 May 10 1393 1361 1403/1367 SUGAR (US
      78 words
    • 78 26 CRUDE OIL PRODUCTS PRODUCTS Jan 4 CRUDE (FOB origin) US$/barrel Close Change Brent blend (1-Mth F) 79.49 1.69 WTI (Near Mth) 81.54 2.23 Dubai (1-Mth F) 79.36 1.75 Tapis blend 82.60 0.50 Minas 81.30 1.60 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha 80.10 -0.85 Jet Kerosene 88.00 0.90 US$/barrel Opec
      78 words
  • Page 26 Advertisements
    • 109 26 The more you trade, the more you save. Enjoy automatic rebates and lower commissions Make huge savings on FX and Singapore shares FX spreads from 1 pip Always guaranteed market prices on shares Learn more about our automatic rebates for frequent traders at igmarkets.com.sg CFD trading can result in losses
      109 words


  • Page 28 Advertisements
    • 45 28 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES TO ADVERTISE, CALL JOE WONG AT 9620 Can they find your services here in the Shipping Times? 75 1327 THE BUSINESS TIMES II1L UUJINLJJ IIIVILJ SHIPPING TIMES
      45 words
    • 18 28 USE THIS SPACE TO SELL? CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES SHIPPING TIMES
      18 words

  • Page 29 Advertisements
    • 86 29 XBRL Reporting from $180" www.xbrl-filing.com.sg Whether you are looking for real value or speed, you can now have your XBRL report for as low as $180* or obtain your report in as short as 2 hours*. Our enhanced tool has enabled us to pass on immense savings, so avail yourself
      86 words
    • 18 29 M .Lianhe Zaobao Chinese st economy «f .needsa ?g green car it —Tsinghua professor Hu Angang H ru
      18 words
  • executive Money
    • 1272 29  -  Those who started with a low six-figure balance could have doubled their total savings in the last 10 years if they diversify, and save and invest regularly By RON LIEBER NYT IT was the age of zeros, the epoch of naughts, an era
      NYT; AFP  -  1,272 words
    • 786 29 NYT [NEW YORK] It was a decade that began with such promise. Stock markets in Europe and America ended the 1990s at record levels, and even bedraggled Japan was at a two-year high. Dow 36,000 was on some best-seller list. Instead, it became a
      NYT  -  786 words
    • 1309 30  -  World’s economy is entering a period of self-sustaining growth and will fully exit the worst slump in six decades a year hence MONEY MATTERS DAVID DARST The writer is Chief Investment Strategist, Morgan Stanley Private Wealth Management THE global equity market rally is now nine months
      XINHUA  -  1,309 words
    • 714 30 Bloomberg [NEW YORK] Warren Buffett recorded his worst performance against the stock market in a decade last year after committing US$26 billion to a railroad takeover and lowering his expectations for investment returns. Berkshire Hathaway Inc, the company that Mr Buffett has led
      Bloomberg; REUTERS  -  714 words