The Business Times, 14 October 1977

Microfilm: NL9453
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 •FRIDAY, OCTOBER 14, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Biggest rip-off
      73 1 AP WASHINGTON, Thurs. President Carter said today the. oil and gas companies are trying to become the war profiteers of the energy crisis, and warned that America faces the danger of "the biggest rip-off In history." Mr. Carter opened his new campaign for his embattled energy programme with
      AP  -  73 words
    • Article
      Lock icon Pakistan's reserves fall
      66 1 Reuter KARACHI, Thurs. Pakistan's gold and foreign exchange reserves fell by more than US$2OO million (SS4BB million) this year and the country is faced with a serious balance of payments problem, the State Bank of Pakistan said here. Gold and foreign exchange reserves declined by $203 million
      Reuter  -  66 words
    • Article
      FT index slips
      50 1 THE Financial Times Industrial index slid below the 500-mark yesterday in subdued trading reflecting uncertainty over the current Ford Motor and miners' pay claims. At 3 pm, the FT Index had lost 6.4 points to 497.8. The index has been above the 500 mark for some time.
      50 words
    • Article
      Lock icon Surprise, surprise ...
      75 1 Surprise, surprise AFP MOSCOW, Thurs. The Soviet news agency Tass today denied reports In two British dally newspapers that there was a danger of a "surprise attack" by the Soviet Union against eastern Turkey. The two reports, it said, were "openly Inspired by the North Atlantic Treaty Organisation "in a
      AFP  -  75 words
    • Article
      Lock icon Hijacked plane ringed
      72 1 UPI ROME, Thurs. A West German Lufthansa airliner hijacked over southern France with 91 persons aboard landed at Rome's Leonardo Da Vinci airport today and was Immediately surrounded by policemen In armoured cars.; The plane, a Boeing 737 with five crew members and 86 passengers, was flying
      UPI  -  72 words
    • Article
      Lock icon US rigging dollar
      53 1 AFP BERNE, Thurs. Fritz Leutvlller, governor of the Swiss National Bank, accused the United States of "manipulating" foreign exchange markets to achieve a further depreciation of the US dollar. Mr Leutvlller said that US authorities had systematically used the growing US trade deficit to brtng pressure on
      AFP  -  53 words
    • Article
      Lock icon Dow Jones
      69 1 UPI NEW YORK, Thurs. Stocks headed sharply lower early today In reaction to rising interest rates and President Carter's denunciation of the oil Industry. Trading was fairly active. As a result, the Dow Jones Industrial average, was off 8.40 points to 818.52 shortly before the first hour of
      UPI  -  69 words
  • Chied Price Change
    • Article, Illustration
      In Singapore yesterday
      168 1 THE Singapore stock market closed mixed yesterday in generally dull condition*. Operators tended to stay on the sidelines and most of the day's turnover was attributable to contra account. At the close, the Business Time* index had gained 2.12 points to 419.68 while the Straits Times In->.
      168 words
    • Article
      In Kuala Lumpur
      114 1 Ri*«s Most active Aokam 4.20 .20 O. Ceramics 134,000 D. Keramat 8.30 .15 Olympla 112,000 O. Ceramics 1.77 .05 High L Low 102,000 Pac. Dev. 2.66 .05 Mega 78,000. Batu Kawah 1.25 .04 M. Mosaics 1.62 +.04 Total Turnover: 1.18 M Matsushita 2.76 +.04 Total Value: M82.09
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  • Article, Illustration
    Anxious time for textile industry
    826 1  -  MAKE OR BREAK AT EEC TALKS By COLIN CHEE TALKS started on Wednesday, between the European Commission and the EEC's chief textile suppliers in the Third World are uppermost In the minds of Singapore textile and garment manufacturers. They depend heavily on Europe as an
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  • Article
    SIA keeps tabs on fare developments
    578 1 SINGAPORE Airlines (SIA) Is keeping a close watch on fare developments on the Australia/ London air route and will arrange similar terms and fares If It proves necessary. "We are very concerned," an SIA spokesman said, "about the planned Australia/ London fares which are
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  • Article
    Lock icon NEAR CONCORD-E
    146 1 AP LONDON, Thurs. British Airways and Singapore Airlines are close to agreement on the setting up of a joint Concorde service which could start by the end of the year and cut by half the present 17-hour flying time, it was disclofed here today. Talks between the two
    AP  -  146 words
  • Article
    Bright hopes of gold breaching US$160
    602 1 DEALERS In Singapore yesterday agreed that gold might breach the magic US$l6O an ounce mark before the end of next month. A month ago most believed the break through would not come until the end of the year. The more optimistic among local dealers,
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  • Article
    Getting hawkers, small traders to ante up'
    299 1 THE National Trades Union Congress is to call on the government to ensure that hawkers and small trader* make a fair contribution to the national revenue in whatever suitable form. This was one of the recommendations of the NTUC's delegates conference which ended
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  • Article
    Law Lords say 'no' to Tarling
    430 1 THE SCALES of justice swung fearfully low yesterday for Richard Tarling, one-time chairman of Haw Par and close associate of Jim Slater. His long fight In the British courts to avoid facing charges here In Singapore In connection with the get-rlch-quick operations of Haw
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  • Article
    Lock icon EEC sets deadline for Japanese
    143 1 AP TOKYO Tues. Roy Jenkins, president of the European Economic Community, has emphasised to Japan that deep, suddenjjenetratlon of certain EEC markets could not be allowed because of unemployment problems In Europe. Mr. Jenkins also said he expects "to see a clear and distinct" turnaround
    AP  -  143 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      7 1 Gel advanced copying technology. SEE BACK PAGE ^-<(+-(>\+[$$=@{+~.^$-{[;$%!)=|
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    • Advertisement
      Page 1 Advertisements Column 2
      121 1 NCD? ACBC makes it easy. When you require Negotiable Certificates of Deposit, you'll find it easy to talk to the people at ACBC. f ACBC offers high interest rates on NCD's, for minimum deposits of $100,000, on fixed periods of not less than 3 months. ACBC has the resources, experience
      121 words
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      Page 1 Advertisements Column 3
      105 1 SINTAT Rent-a-Car vVr,'Hinv\iD» P'SfßvaiiOV Singapore: *****55. *****5 (Airport) Kuala Lumpur: *****6* Penang: ***** Nobody ever have to know that you're wearing a bifocal lens m Jlliii m iiS m aw HHW mm j 1 wmm ...It's your secret with AOLITE® AO7 ULTRAVUE PROGRESSIVE POWER LBB AtJast, a bifocal in which
      105 words
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  • OVERSEAS
    • Article
      Lock icon Carter stalls on tax and pushes ahead with energy
      869 2 NYT WASHINGTON, Thurs. I President Carter has t decided to delay for some weeks more his already 1 overdue tax policy proposals even though more delay i may Jeopardise prospects j for passage of broad-gauge tax revisions in 1978. Mr. Carter
      NYT  -  869 words
    • Article
      Lock icon '.. I'm partly to blame for the situation'
      353 2 I'm partly to blame for the situation' UPI WASHINGTON, Thurs. Ranking energy right behind America's security In importance, President Carter told Congressional leaders yesterday that he may be partly to blame for the floundering state of his energy reform package. He pledged to Intensify his efforts. Mr. Carter Invited Capitol
      UPI  -  353 words
    • Article
      Lock icon American farmers are reaping record crops
      424 2 AP WASHINGTON, Thurs. A U8 government report saya American farmer* are harvesting record crope of eom and soybeans thia autumn. The Agriculture Department eaya that baaed on Oct. 1 aurveya, the corn harveet, which la well along deepite peraiatent rain in aorne arena, ia
      AP  -  424 words
    • Article
      Lock icon JAPANESE THRUST
      53 2 Reuter LONDON, Thurs. European countries should Jointly tackle the problem of Japanese penetration of Western markets, visiting West German industry leaders and their British hosts agreed yesterday. The consensus view came In discussions by a 13member group of West German industrialists and British ministers and officials during a
      Reuter  -  53 words
    • Article
      Lock icon Nations on human rights blacklist will now get aid
      404 2 AP WASHINGTON, Thurs. Members of a House of Representatives and Senate conference committee yesterday struck a compromise that permits continued US aid to the International banks which Erovlde funds for developlg countries. They eliminated amendments to a US$6.B billion (5516.32 billion)
      AP  -  404 words
    • Article
      Lock icon Arms sales will soar because of loopholes
      399 2 UPI WASHINGTON, Thurs. A vast growth In foreign commercial sales of American-made weapons is predicted, because foreign countries can now deal directly with lfB munitions manufacturers. Sales of US-made weapons were specifically excluded from President Carter s May 19 policy statement designed to
      UPI  -  399 words
    • Article
      Lock icon Top priority for EEC entry says Soares
      390 2 Reuter AFP LISBON, Thurs. Portuguese Prime Minister Mario Soares has defined two top aspects of his foreign policy as entry Into the European Common Market and securing of a major International loan. In an Interview with the Portuguese news agency Anop, following the
      Reuter; AFP  -  390 words
    • Article
      Lock icon France and Australia in uranium sales talks
      235 2 AFP PARIS. Thurs. Mr. John Howard, Australian Minister In charge of Trade Negotiations, discussed possible Australian uranium sales to France here yesterday, French sources said. The Issue was raised when Mr. Howard met Mr. Andre Olraud, head of the French Atomic Energy Commissariat
      AFP  -  235 words
    • Article
      Lock icon Heath: Put more pep into UK C-Mart role
      401 2 Reuter BLACKPOOL, Thurs. Former British Prime Minister Mr. Edward Heath, who led his country into the Common Market, today called for It to play a more active role in the community. In an address to members of the Conservative opposition party he
      Reuter  -  401 words
    • Article
      Lock icon Commission loan plan under fire
      185 2 Reuter BRUSSELS, Thurs. The Common Market monetary committee was yesterday highly critical of EEC Commission plans for raising one billion units of account (SS2.B billion) in international loans to foster Investments In key economic sectors, participants said. They said that in the light of the
      Reuter  -  185 words
    • Article
      Lock icon Ford's final offer exceeds 10pc pay guidelines
      504 3 AP Reuter LONDON, Thurs. In pay 1 negotiations crucial to the Labour government's antiinflation pay policy. Ford Motor Co Ltd. last night made a "final offer" averaging 12 per cent to its 57,000 British workers. The offer exceeds the 10 per cent pay
      AP; Reuter  -  504 words
    • Article
      Lock icon US lifts Lockheed's loan guarantee
      368 3 AP WASHINGTON, Thurs. The US government agreed yesterday to lift its US$25O million (*****.5 million) loan guarantee to Lockheed Aircraft Corp. ahead of schedule because of the company's Improved financial position. Lockheed officials, delighted by the decision, were confident it would help remove the cloud
      AP  -  368 words
    • Article
      Lock icon No accord on quit ILO proposal
      122 3 UPI WASHINGTON, Thurs. President Carter's advisers failed to agree yesterday on a labour-management proposal for US withdrawal from the International Labour Organisation by Nov 5. Labour Secretary Ray Marshall said members of a Cabinet-level committee failed to agree during a final meeting on the
      UPI  -  122 words
    • Article
      Lock icon Higher prices
      53 3 Reuter BERNE, Thurs. Switzerland's consumer price Index rose an unadjusted 0.1 per cent In September to 168.6 (base 1966) which was 1.6 per cent above the level a year earlier compared with an annual Increase of 1.3 per cent in August. In August the Index showed no change
      Reuter  -  53 words
    • Article
      Lock icon CITICORP HEAD EXPECTS PRIME RATES TO RISE
      340 3 Reuter NEW YORK, Thurs. US prime rates may rise a further 25 to 50 btiii points in the next few month*, Citicorp chairman and chief executive Walter Wriston said yesterday. Speaking after the formal opening of Citicorp's new US$l5O million (*****.50 million) centre
      Reuter  -  340 words
    • Article
      Lock icon Yen stopped in its track only for time being
      407 3 Reuter TOKYO, Thurs. The recovery of the dollar against the yen here yesterday could well prove only a temporary halt to the steady advance of the Japanese currency, foreign exchange dealers here said. They said In view of higher dollar interest
      Reuter  -  407 words
    • Article
      Lock icon Italy forecasts a $5.5b forecast
      195 3 Reuter ROME, Thurs. Italy Is expected to show a two trillion lire (555.5 billion) current account payments surplus next year and an inflation rate of 12 per cent. Economic Planning Minister Tomasso Morllno said. These alms would be compatible with a global public sector deficit
      Reuter  -  195 words
    • Article
      Lock icon French target for money supply growth
      253 3 Reuter PARIS, Thurs. Prime Minister Raymond Barre told Parliament the target for French M 2 money supply growth in 1978 will be 12 per cent, compared with 12.5 per cent in 1977. Forecast gross domestic product growth for 1978 is 12.6 per cent. Mr.
      Reuter  -  253 words
    • Article
      Lock icon Retail sales
      90 3 Reuter WASHINGTON, Thurs. The US Commerce Department said retail sales In September rose 9 per cent from the period a year earlier, but fell one per cent from August. Sales of durable goods fell 2 per cent from August, while sales of non-durable goods decreased one per cent,
      Reuter  -  90 words
    • Article
      Lock icon UK wants slowdown in fall of short-term rates
      455 3 Reuter LONDON, Thurs. The Bank of England signalled to the money market that It wishes to see a moderation in the fall of short-term UK interest rates which is now taking place, money market sources said. The signal took the form of
      Reuter  -  455 words
    • Article
      Lock icon Canadian CPI rose 0.6pc in Sept
      84 3 Reuter OTTAWA, Thurs. Canada's consumer price index, base 1971, rose 0.6 per cent to 163.4 In September from 162.5 in August, Statistics Canada said. The September index was up 8.4 per ceni from 150.7 a year earlier. There was a rise of 0.4 per
      Reuter  -  84 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      236 2 EAST COAST HIL Next to Katong Seaview Palace Upper East Coast Road Located on elevated land in Katong Luxurious split-level houses facing the sea With individual front and rear gardens EAST COAST HILL stands on a 20-acre site off Upper East Coast Road which is about 195 feet above sea-level...
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      35 2 THE WEATHER y 4./ WEATHER Oct 13 at 8J for 24 hot airport. Maximum Temperature Associated Humidity Minimum Temperature Anoriitnd Humidity Hour* of Sunshine Total liidUl for the Month Total Rainy Days for the Month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      295 2 Li mmm wm w Hm SINGAPORE 5 I 3.00 PM Opening announcements followed by Housewives' Matinee Hate Me Not with superimposed English/ Chinese subtitles (A Mandarin feature film Repeat 4.40 Intermission 6.05 Opening announcements followed by Exercise with Gloria 0 6.30 News in Brief < 6.35 The First 365 Days
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    • Miscellaneous
      Page 2 Miscellaneous Column 3
      614 2 THE TWO-IN-ONE CROSSWORD I Antiquated old boy? (8) 7 Indecent revelation? (8) 8 You're beaten, chum (4) 10 Does everything come to him In the way of tips? (8) 11 Familiar name for a fine cricketer (8) 14 Naval feature of the horse artillery (3) 16 Runs around poles (5)
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  • Page 3 Advertisements
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      564 3 ANEW MILESTONE IN SITCS HISTORY THE inauguration of SITC's new premises at Wing On Life Building today marks a new milestone in the MORE STAFF FOR EXPANSION OF ACTIVITIES FROM the time SITC first opened its doors to students in January 1974, it had to depend on experienced part-time lecturers
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  • COMPANY NEWS
    • Article
      Associate's loss behind Mega's poor performance
      601 4 THE LOSS-MAKING streak struck Mega Chemicals again in the year ended April 30. 1977. This time the group ln- curred a heavier loss of M 5514,749 compared with only $1,616 last time. The heavier loss was mainly due to the poor 'performance of its
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    • Article
      DIVIDENDS ANNOUNCED
      450 4 Current Ex Date Total for Total for payment Date payable the year previous year Metro 8% Sept 27 Oct 14 8% 8% Metro 4%<r) Sept 27 Oct 14 Malaywala Steel 10%TE Aug 29 Oct 15 10%TE 10%TE Bukit Katil 10% Sept 23 Oct 15 20% 16% OCBC 5%I
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    • Article
      Shutdown and govt duties hit Lower Perak
      274 4 HEAVIER government duties and shutdown expenditure severely eroded Lower Perak Tin Dredging's earnings and brought pretax profit down by 55.4 per cent to M 5288.725 tor the year ended April 30, 1977. In fact, If not for a nonmining income of $410,954 the
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    • Article
      Austral plans to buy an additional dredge
      485 4 ENCOURAGED by the persistently high price of tin, favourable prospects for the industry, and possibly In an attempt to boost falling production, Austral Amalgamated Tin is contemplating launching an additional dredge on Its Lower Perak lease. Austral Chairman, Mr. C.W. Treslse, discloses in
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    • COMPANY MEETINGS
    • Article
      Batu Lintang calls for limit to tax increase
      635 4 STUNG BY what It apparently regards as an unusually large bite Into Its 1976/77 earnings by the high tax structure, Batu Lintang Rubber has lent its own discordant note to the rising chorus normally orchestrated by tin mining companies protesting the Malaysian
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    • Article
      BATU LINTANG RUBBER Five-year summary
      187 4 1976/77 1975/76 1974/75 '1973/74 1972/73 S Pre-tax profit 2,684,228 1,146,351 894,195 1,847,174 1,553,079 Taxation 1,175.805 328.393 325.000 820.639 688,256 After-tax profit 1,508,423 817,958 5o9,195 1.026.535 864,823 Cost of dividends (net) 1,329,235 797,541 425,355 1,063.388 1,010,219 Dividend rate (gross) 12*% 7*% 4% 10% 9*% Profit retained
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    • Article
      Lock icon Keeping investors in the dark
      747 4 NYT NEW YORK: Is It fair for a company that Is the target ft takeover attempt to Inform shareholders that a tender offer Is not in their best Interests without saying why? The tactic, most recently used in the case of the Interpace Corp's offer
      NYT  -  747 words
    • Article
      Tactics used to woo top salesmen
      577 4 NEW YORK, Thurs. Competition among brokerage houses to recruit Wall Street's top salesmen has led to offers of frontmoney premiums and other incentives by would-be raiders. Just last week, Merrill Lynch, Pierce, Fenner L Smith Inc, the world's largest brokerage house, resUced Its commission
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    • Article
      CHICAGO BOARD OPTIONS
      1375 4 On Oct 12 TRADING In options on the Chicago Board Options Exchange came to 115,034 contracts on Wednesday compared with 77,976 contracts on Tuesday. OPTION OCT JAN APL STOCK Alcoa 40 NOL 3 3/4 4 3/4 42 7/8 Alcoa 45 1/16 1 1/8 UNTRD 42 7/8 Alcoa
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      165 4 COLLKTINQ Oriental /Intiouej i t I AnnowtJ QWttfW 1 9 e w ?> 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 believed that they are too expensive
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Forecast of flat profit at Norsk Hydro
      296 5 EUROPEAN COMPANIES Reuter LONDON, Thurs. Norsk Hydro AS president Johan Holte said he expects results for the current year to June 30, 1978 to be in line with those of last year despite substantially higher depreciation and Interest charges. Fertiliser capacity is likely
      Reuter  -  296 words
    • Article
      Lock icon E. German bank
      85 5 Reuter LONDON, Thurs. Deutsche Aussenhandelsbank of East Germany is raising a US$2OO million six-year Eurocredlt through a group of banks led by Citicorp International, Informed Eurocurrency banking sources said here. The loan carries a spread over London interbank offered rates of one per cent for the first
      Reuter  -  85 words
    • Article
      Lock icon Consgold sees profit fall due to writeoff
      436 5 Reuter LONDON, Thurs Consolidated Gold Fields reported that It made a pre-tax profit of £35.6 million for the year ended June 30,1977 compared with £43.3 million previously. Tax accounted for £16.1 million (£20.3 million) leaving after-tax profit at £19.5 million (£23 million). Profit
      Reuter  -  436 words
    • Article
      Lock icon Loss this year will be lower
      210 5 Reuter ROTTERDAM. Thurs. Rijn Scheldeverolme Machinenfabrieken En Scheepswerven NV (RSV) said it expects to make a loss of between 40 million and 50 million guilders this year. In an interim statement, it said it expects results for 1978 to improve although It will not
      Reuter  -  210 words
    • Article
      Lock icon Firm postpones debenture issue
      75 5 Reuter LONDON, Thurs. The planned US$25 million debenture issue for City Investing Finance due October 1989 and guaranteed by City Investing Co has been postponed in view of current unsettled market conditions, Blyth Eastman Dillon and Co International announced. Other participants in the issue were Amsterdam-Rot-terdam
      Reuter  -  75 words
    • Article
      Lock icon Oil firm seeks US$250m
      106 5 Reuter LONDON. Thurs. The US$25O million seven-year Euroloan being arranged for the Argentine state oil concern, Yaclmientos Petrollferos Flscales, will carry a IV* per cent spread over London Interbank offered rates for the first five years and 1% per cent for the final two, Eurocurrency banking
      Reuter  -  106 words
    • Article
      Lock icon Plan to exchange shares for notes
      172 5 ASIAN COMPANIES Reuter SYDNEY, Thurs. Waltons said it plans to issue five million ASI par BVi per cent cumulative redeemable third preference shares to General Shopping SA of Belgium in place of $5 million 7 V* per cent convertible notes. The preference shares are
      Reuter  -  172 words
    • Article
      Lock icon Eurasbank gets Thai approval
      137 5 Reuter BANGKOK. Thurs. The Cabinet has approved the setting-up of a branch office In Thailand by the European Asian Bank, Radio Thailand announced. The opening of a major West German bank will give foreign Investors confidence in Thailand and promote trade with the European Economic Community
      Reuter  -  137 words
    • Article
      Lock icon CSR offer closes
      63 5 Reuter SYDNEY, Thurs. CSR said Its debenture issue closed yesterday after oversubscriptions reached the AS 10 million limit over the base of $10 million. The $20 million Issue include an offer of conver- sion to holders of $7.8 million debentures. CSR offered 10.75 per cent 2Vi years,
      Reuter  -  63 words
    • Article
      Lock icon Toshiba bonds
      65 5 Reuter PARIS, Thurs. Tokyo Shlbaura Electric (Toshiba) said it will offer US$5O million of 15-year convertible debentures through a consortium led by Smith Barney. Harris Up ham. A semi-annual coupon of 6% per cent Is envisaged at present. The debentures, of which details will be announced later, will
      Reuter  -  65 words
    • Article
      Lock icon Car body denies report
      175 5 Reuter TOKYO, Thurs. The Japan Automobile Manufacturers Association denied an overseas press report that It called an .emergency meeting to try 'and get an agreement among members to curb car shipments to Britain. It said such discussions would infringe Japan's anti-monopoly law. Spokesmen for Toyota Motor,
      Reuter  -  175 words
    • Article
      Lock icon Dividend raised
      88 5 Reuter HONGKONG, Thurs. Hongkong and Kowloon Wharf and Godown declared an interim dividend of 12 HK cents (11), and said it expects to pay a final dividend of not less than 50 cents (45). It forecast net earnings for the whole of 1977 will be HKS7S million (67.3
      Reuter  -  88 words
    • Article
      Lock icon Strike at BOC cuts of supply
      108 5 Reuter LONDON, Thurs. A strike at BOC International's gases division has almost totally cut off supplies to British Industry of oxygen and other gases in cylinder and bulk liquid form, a BOC spokesman said. The effects of the stoppage by the majority of the
      Reuter  -  108 words
    • Article
      Eurocredit sought
      53 5 PARIS, Thurs. The French coal utility, Charbonnages de France, Is negotiating a Eurodollar credit of the order of US$lOO million, banking sources said. CDF Is looking for sevenyear money, with a spread over the London Interbank rate rising gradually from points, but talks are in a very early
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    • Article
      Lock icon Higher sales push up GEC's earnings
      191 5 NORTH AMERICAN COMPANIES Reuter THE General Electric Company yesterday reported that net earnings during the third quarter of this year had Increased by US$4l.2 million over the same period a year ago. Net earnings during the three-month period totalled $268.5 million, compared with $227.3
      Reuter  -  191 words
    • Article
      Lock icon Owens-Illinois expects no record this year
      234 5 Reuter OWENS ILLINOIS said it appears earnings for 1977 will not match the record results of 1976 when It earned U*****.7 million or $6.83 a share from operations. Net income totalled $178.3 or $11.58 a share. For the 1976 fourth quarter It earned $23.2
      Reuter  -  234 words
    • Article
      Lock icon Utility rates raised
      55 5 Reuter THE Illinois Commerce Commission said It granted Commonwealth Edison a 7.6 per cent rate increase and ordered major changes in the utility's rate structure. Commonwealth Edison said the 7.6 per cent rise will increase annual revenues by U*****.66 million. It did not indicate whether it would
      Reuter  -  55 words
    • Article
      Lock icon Income from other sources
      263 5 Reuter ON SALES of US$l.5l billion. Westlnghouse Electric made net earnings of $72.5 million or 82 cents a share in the third quarter this year. This compares with net earnings of $59.1 million or 67 cents a share from sales of $1.46 billion in the 1976
      Reuter  -  263 words
    • Article
      Lock icon Cabinet decides to start LNG project
      99 5 Reuter THE Trinidad and Tobago Cabinet has decided to proceed with the development of a liquefied natural gas (LNG) project with two US firms. Minister of Petroleum and Mines Errol Mahabir said. The two US companies are People's Overseas Inc, a wholly-owned unit of
      Reuter  -  99 words
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      Page 5 Advertisements Column 1
      250 5 Look where you can fly to on Pakistan International from Singapore Pakistan International flies to more places than month but since 1974 and 1975, when all other open a route to the People's Republic of China, most people realize. airlines cut back, Pakistan International added 15 Perhaps that's why ten
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  • Article
    Share Information Service
    2315 6 1*77 High Low Company Last Sale +orGr'» div Div c'vr Gr'« y'ld Net P/E Vol C000) Day High Low SECTION ONE INDUSTRIALS 134 204 116 238 88* 198* 169 224 414 171 135 171 58 212 57* 155 152 182 350 145 Acma Alcom Allied Choc Bata
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  • Article
    Transactions in Singapore
    1239 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesJterday with the number of shares •traded shown brackets in Lots of 1.000 units unless otherwise specified All Time Settlement Contracts are quoted after the word Sett." Big Boardl deal*
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  • Article
    In Kuala Lumpur
    1426 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stoct Exchange yesterday with the number of shares traded shown In brackets In lots of 1.000 units unless otherwise specified INDUSTRIALS Ajinamota (2.008 2.108) Alcorn (1.758) (1) 1.71. A. Choc (1.008 1.038)
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  • Article
    Stock options
    77 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. C and C (Dec $1.90) (0.408 0.415) (2) 0.40. DBS (Dec $3.60) (0.12B). Inchcape (Dec
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  • Article
    Unit trusts
    146 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager*' pritt far Oct 14) (Current rices) The Commerce 1.72 1.82 INCOME BOND 1.08 1.14 The Saving Fund 1.03 109 Spore Prog Fund 0 82 0.87xd MARA BUMIPUTRA FUND S pore Security (Managers' price* far Oct 14) Fund 1.55 184 First Bumlputra
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  • Article
    CORPORATE BONDS
    141 6 B O T 8 1/2% 1981 (100,000) (100V,B 101S) B O T 7 S/8% 1984 (100,000) (978 97*S) LTCB J 1982 (100,000)(98*B 98 %S) Credit Lyonnais Floating 1983 (100,000) (97 7 %8 98SS) DBS Convert* 6 1/2% 1991 (100,000) (968 975) D B S 8 1/2% 1982 (100,000)
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  • Article
    GOVERNMENT BONDS
    129 6 Rep Spore 7% 1982 (10©,000) 101 4S) Rep Spore 6 1/2% 1983 (100,000) (99*«8 *****8) Rep Spore 7 3/4% 1987 (100,000) (99*«8 100'«S) 4 3/4% 1/5/79 (250,000) (100.555) (2) 100.38 6 3/4% 15/6/80 (250,000) (104.658 105.00S) (2) 104.80 5 3/4% 1/6/78-80 250,000) (100.958 101.20S) (2) 101.00 4 3/4%
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business Tunes 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 who
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  • Article, Illustration
    A MIXED SESSION
    686 7 SOME UNDERLYING bayin* interest was again keeping an otherwise dull market alive at the Stock Exchange of Singapore yesterday. much of the day's turnover was attributable to contra account. On balance, the market was traded to a mixed finish. Operators, especially the syndicated speculators, were generally withdrawn
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  • Article
    KLSE PRICES EDGE UP
    310 7 SLIGHTLY steadier trading continued to prevail on the Kuala Lumpur stock market yesterday as prices edged up on some light support. However, fresh Interest remained sorely lacking particularly from the bigger Investors and Institutional buyers, with the result that overall conditions were still cautious and uncertain.
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      373 7 HONGKONG: The market closed slightly weaker, depressed by overseas selling and lack of local Interest on Thursday, dealers said. The Hang Seng Index fell 1.74 points to 418.81. Turnover was below average. Announcement of an Increased Interim dividend by City and Urban Properties came too late to move the
      373 words
    • Article
      Tokyo
      492 7 TOKYO: Share prices fell on Thursday led by exportorientated Issues following the yen's rise, with the downward trend accelerated towards the close, dealers said. The Dow Jones average lost 35.53 to close at 5,152,86 with volume 300 million shares. The New Index closed at 380.54, down 1.71. Electrlcals, vehicles
      492 words
    • Article
      Sydney
      425 7 SYDNEY: Mines fell In mixed trading on Thursday, with AAR falling five cents to $1.98, CRA nine to 2.41, Coal and Allied five to 3.65 and Utah 10 to 3.80, dealers said. P e All-Ordlnarles Index fell 0.51 point to 431.73 On higher overseas bullion prices. Central Norseman firmed
      425 words
    • Article
      Manila
      167 7 MANILA: The market closed mixed on Thursday, with oils recovering slightly and minings and commercials down, dealers said. Turnover rose to 8.60 million pesos from Wednesday's 4.02 million. Atlas and Phiiex lost three and two points respectively while other mining issues were steady. PLDT fell one point and other
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    • Article
      Bangkok
      128 7 Oct IS Baku Asia Fibre Bangkok Bank Bangkok Investment Bangkok Metropolitan Bank Bala Berll Jucker Charoong Thai Wire Duslt Than I First Trust General Finance Indo-Thal Industrial rinance Corp J and J Ho Jalapraihan Cement Karnasuta LeeKwangMln Metal Box New City Rama Towers RaJa Finance Safety Insurance Saha Union
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    • Article
      Amsterdam
      297 7 AMSTERDAM: The market closely quietly mixed on Wednesday with gains slightly predominating, dealers said. Hoogovens firmed 0.60 guilders while Philipa and Unilver edged higher. Royal Dutch lost some ground and Akzo finished unchanged. Elsewhere shares with gains of over two rallders were ABN, Bijenkork and VMH-Stork. Losses were led
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    • Article
      Brussels
      155 7 BRUSSELS: Belgian shares were mixed with the majority lower In a sluggish market on Wednesday, dealers said. Soflna, Sidro, Cockerill and Andre Dumont all rose, but Intercom, Asturienne, Union Miniere, Vieille Montague, Clabecq, Wagons-Lit* and Cometra fell. UK shares were unchanged, Germans mixed, Dutch and Canadian unchanged, French slightly
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    • Article
      Frankfurt
      300 7 FRANKFURT: The market consolidated recent heavy gains and advanced only slightly on balance in lively trading on Wednesday, dealers said. Electrlcals lost an average 1.50 marks on profit-taking wnue motors and engineerings were one mark down on average, with Daguasa losing 3.50 marks. Chemicals firmed slightly. Insurances were stronger.
      300 words
    • Article
      Milan
      142 7 MILAN: The market closed easier In Irregular moderate trading on Wednesday, dealers said. Flat. Inic. both Pirellis and Olivetti were marginally higher In depressed Industrials. Banks and Insurances lost ground. Sifa was well maintained In mixed flnanclals. Bonds were regularly steady. OCT 12 Lire Anlc 185 1 Assoc Gen
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    • Article
      Paris
      419 7 PARIS: Prices were irregular In early trading on Wednesday but later advanced, led by Rhone Poulenc gaining more than four per cent, dealers said. Rhone Poulenc on Tuesday announced an increase In consolidated trading profit to 1.48 billion francs In the first half this year from 1.10 billion In
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    • Article
      Zurich
      324 7 ZURICH: The market was slightly higher In fairly active turnover on Wednesday, dealers said. Switaair Bearer lost an Initial gain to close unchanged on balance, but Its registered stock advanced. Banks generally posted small gains with bearer shares of Leu, Bankgeaellachaft and KrediUnitalt and the registered stock of the
      324 words
    • Article
      Jo'burg
      395 7 JOHANNESBURG: Selective gold shares moved off the top on small bouts of proflttaking on Wednesday, dealers said. Initially YG YMB moved ahead on U8 advices and bullion InldcaUon*. Gains of up to 12S cents were Men. Financial minings were sometimes harder In line with producers. Elsewhere, D* Basra traded
      395 words
    • Article
      Toronto
      332 7 TORONTO: The market closed lower In active trading on Wednesday. Dealers said the weaker New York market Influenced prices here, with the composite Index down almost four points and declines outnumbering advances 258 to 143. Canadian Corporate Management A fell one to 25 1/2 while Imaaco A at 27
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    • Article
      New York
      1147 7 NEW YORK: Gloomy investors, yielding to fears of tighter credit, sent stock prices Into another sharp decline along a wide fron In active trading on Wednesday. Analysts blamed the selloff on widespread forecasts of another quarter-point rise In the commercial banks' prime rate to 7* per cent. The
      1,147 words
    • Article
      Indices
      62 7 FINANCIAL TIMES INDUSTRIALS Wednesday 504.2 Tuesday 511.8 Week Ago 516.8 DOW JONES AVERAGE industrials Wednesday 823.98 Tuesday 832.38 Week Ago 837.32 LONDON DOLLAR PREMIUM Wednesday 88* to 88* Tuesday 88* to 88* H.K. HANG SENG Wednesday 420.55 Tuesday 421.63 Week Ago 425.51 SYDNEY INDUSTRIALS Wednesday 367.80 Tuesday 366.32 Week
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      540 7 BUSINESS TIMES Airline Directory AtroHot Soviet Airline* 110-112 Shaw Centre, Orchard Read, Singapore 9 (Tel: 377.111) Air Ceylon 302-8, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tel: *****88) Air France Ground. Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel:
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      494 8 OPENING quotations in the Singapore rubber market yesterday, were marked down one cent following lower London advices and thereafter, the market ruled erratic as buying interest alternated with selling. Towards the morning close, prices eased on stoploss selling, with forwards, especially January/Marth 1978, freely offered.
      494 words
    • Article
      Closing prices
      30 8 Rubber: Oct 13 Singapore: November 213.00 centa (down 2.25 centa) .Malaysia: November 215.00 centa (down 2.25 centa) Tin: 11.76S (down S7) Official offering: 175 tonnea (down five tonnea)
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    • Article
      RAS PRICES
      331 8 R A S. prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b 212.75 213.75N 211.50 212 50N Int. 1 R.S.S. Nov 214.00 214.50 213.00 213.50 Int 1 R.S.S. Dec 216.00 216.50 215 00 215.50 Int. 2
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    • Article
      SSR AND SMR
      102 8 NOON SSR and SMR prices yesterday: November December R.A.8. (Current Mth) (Forward Mth) Buyer* Seller! Buyer* Seller* ♦nil per kg) (cent* per kt) SSR 20 (1-ton pallet) 207.00 209.00N 208 00 210.00N SSR SO (1-ton pallet) 204 50 206.SON 205 50 207.50N M.R.E.L.B. SMR5CV (1 -ton pallet)
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    • Article
      Hongkong comex
      271 8 HONGKONG, Thurs. The market closed firmer In very dull trading, waiting a fresh lead from New York, dealers said. March and July rose U50.05 and 0.19 cents, on commission house buying towards the close, they said. Total turnover fell to 48 lots from yesterday's 52. Open position after
      271 words
    • Article
      Produce exchange
      486 8 SENTIMENT ruled quiet and uncertain at the Singapore produce market yesterday. Dealers reported scarce activity on booksquaring account and exporter buying against previous commitments to consumers in neighbouring countries. After the sharp reaction on Wednesday, the coffee market turned somewhat nervous against a mixed news background. Some rumours
      486 words
    • Article
      Coffee
      329 8 LONDON, Thurs. Coffee opened £23 to £36 lower in a turnover of 192 lots. The official opening call tone was "slightly easier." Prices declined as expected, following the lower close in New York. Trades bourses sold on balance. Coffee at mld-mornlng ranged £28 to £10 down. Volume was 822
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    • Article
      Duty rates
      62 8 THE MALAYSIAN Minister of Finance has fixed these rates for the period from Oct 13 until further notice: Rubber: 98 cents a pound Copra: $790 a ton Palm Kernel: $235.25 a ton The rates of duties payable are: Rubber: 13Vi cents a pound Total 19 cents Surcharge 6H
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    • Article
      Palm oil
      64 8 C I.F Rotterdam, US dollars per ton. LONDON Wednesday Previooa Malaysia 5% ffa bulk 450 sir Dec until Sumatra 5% ffa Oct unci) 520 sir Nov 445/462 50 pds 470 pd Dec 445/440 pds 450/447 pd Jan unch 447 50 pd Feb until 445 pd Nigerian 5* ffa
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    • Article
      Cocoa
      263 8 LONDON, Thurs. Reports of heavy rainfall in Ghana bringing flooding to the capital and the central eastern and volta regions reversed an expected easier trend against New York In early dealings and sent terminal cocoa to £40 limit up soon after the opening calL Near Dec reached limit at
      263 words
    • Article
      Straits tin
      280 8 i THE Straits tin price In > Penang yesterday was down 1 Ms 7 to 51,768 on an official offering down five tonnes to 175 tonnes. In LONDON yesterday, tin declined £47 for cash and £50 for Three Months i while high grade lost £40 > and £30
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    • Article
      Sugar
      285 8 LONDON, Thurs. Terminal sugar finished the first call £2.45 (near March at £121.55) to £0.75 up from Wednesday night, but eased off In light open trading. Dealers said early sentiment was possibly Influenced by reports that Argentina had almost sold out of 1977 crop sugar. But the sources said
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    • Article
      Rice
      194 8 BANGKOK, Thurs. Indicative prices quoted today were: (US dollars per tonne fob basis Banfkok): Whiu Rice: 100 pet Ist class 308. 100 pet 2nd 292. 100 pet 3rd 288. 5 pet 277, 10 pet 200. 13 pet 257. 20 pet 254/25 pet 247 35 pet unq Brokea: A-L Super
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    • Article
      Soybeans
      119 8 CHICAGO, Thurs Soybean futures yesterday extended earlier losses In late dealings on Increased speculative and stoploss selling to close at the day's low, with '„sses of 13 to 9Vfc cents a bushel. Prices were under mixed selling pressure through most of the session on the expected Increase in harvesting
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    • Article
      Wheat
      114 8 CHICAGO, Thurs. Wheat futures yesterday finished the session with losses of 3* to 2Vt cents a bushel on late selling pressure. Initial declines In soybean and corn futures generated speculative selling In wheat and prices eased further on commission house stoploss liquidation before commercial buying encouraged some support which
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    • Article
      Copper
      302 8 LONDON, Thurs. Copper wire bars fell £10.50 all round. Dealers said lower premarket traded levels reflected the overnight turnround In US futures and currency considerations. Liquidation and hedge selling were met by trade buying and profit-taking purchases and the market fluctuated within a narrow range of £706 to £704
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    • Article
      Silver
      157 8 LONDONr Thurs. Silver eased mostly 0.5 pence per troy ounce. The softer undertone In gold and the general trend In base metals brought out small liquidation which was absorbed at the lower levels by short-covering. Three Months traded down to 273.0 pence on the pre-market, but steadied to 273.9
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    • Article
      Gold
      359 8 THE kllobar in the Singapore market yesterday opened at 8112,424. The market was unable to sustain at this level and drifted down to close at a low of 5512.363. In the London market, the metal opened at US$l5B.lO/30 and closed at $157.45/65. The London morning fix was $157.20, down
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    • Article
      Lead
      99 8 LONDON, Thurs. Lead was £2.75 down for cash and £4 lower for Three Months. Market sources said prices eased initially In line with copper, but fresh buying support was attracted by the lower levels and, coupled with belated covering against physical sales, steadied values. Three Months traded from $352
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    • Article
      Zinc
      93 8 LONDON, Thurs. Zinc was £4 down all round. Dealers said early premarket easiness was prompted by the trend in other met&ls and market talk of fresh arrivals of Korean zinc in the near future. Three Months traded from £298 to £295 in the pre-market before last ring business at
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      547 8 THE Singapore foreign exchange market yesterday saw the US dollar fluctuating wildly against the Japanese yen as speculators turned up in full force. Opening at the yen 255.50/60 level, the dollar rose to 255.80/90 by early noon. However, pressures put on the dollar later saw it crashing down to
      547 words
    • Article
      Minimum lending rates
      58 8 .1 ACBC 7 Firat Chicago Algemene Bank (V, Citibank 7 Bangkok Bank 7 HSBC «v. Bank of America 6V, Indoauez 7 Bank of China 7 Malayan Banking 7 Bank of Tokyo MiUui Bank 6H Bank Negara OCBC Indonesia 7 OUB 7 Chartered Bank 7 UCB 7 Chaae
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    • Article
      Asian $ rates
      162 8 Asian rates ASIAN currency deposit rate* u at close on Oct 13 interbank L'S Doll Ian (Spot) 7 days 1 mth 2 mths 3 mths 6 mths 8 mths 12 mths 13/16 7 1/16 7 3/16 7 1/2 7 3/4 7 13/16 7 7/8 Sw. m. imkUk 6 11/16 6
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    • Article
      Discount
      44 8 RANOE of price* offered bj discount houses on Oct 13: Overnight 3KH Call deposit 3% to 3** UNHI Buyiaf Sellinc 3-Month Treasury bills 3 vie 31/1* 3-MonUi Bank Mils 4% 3-Month CD 5S 5* 6-Month CD i\ 511/16 Source: National Discount Co Ltd
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    • Article
      Euro $ rates
      159 8 Euro rates LONDON, Thurs. Near period Eurodollar deposit rates opened higher due to the loss of the Friday dealing technicality while short dates opened steady, dealers said. Initial technical gains In time deposits ranged from around 3/8 In One Month to 1/8 In Five Months, and longer positions were steady
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    • Article
      New York
      187 8 NEW YORK, Thurs. The US dollar yesterday closed sharply lower against most major currencies, while the Canadian dollar fell to another record low at the close, dealers said. Continuing apprehension about US trade deficits and the course of economic policy overshadowed hopes of further rises In US interest
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    • Article
      London
      209 8 LONDON, Thurs. The dollar edged up In nervous trading from early lows, but was still below overnight levels against major currencies here, dealers said. The US unit came under pressure In New York late yesterday with apprehension about US trade and current account deficits reemerging as a market concern.
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    • Article
      Hongkong
      135 8 HONGKONG, Thurs. The US dollar eased slightly to 2.2860/65 marks In fairly active trading from its New York mld-polnt close equivalent of 2.2867 after rising to 2.2885/95 on West Asian and Singapore buying, dealers said. The US unit also eased to 255.60/70 yen from Its New York mld-polnt closing
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    • Article
      Tokyo
      66 8 TOKYO, Thurs. The US dollar for overnight delivery closed at 255.77 yen, slightly firmer than Its 255.60 opening, but well down from 258.00 at yesterday's close. The rate dropped to 255.60 yen at one point In early trading. The low level, however, attracted dollar buying from banks and import
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    • Article
      Australia/NZ
      60 8 AUSTRALIA/ NZ exchanges quoted on Oct 13 AUSTRALIA: Sterling 0 8387/ 0 0424 US dollar *****/ I.UM Ninety-day air mall buying rates: Sterling 0.6520 US dollars 1.1496 Ninety-day forward buying rates: Sterling 0 6288 US dollars 1.1104 NEW ZEALAND: Sterling 0 5506/ 0 5538 US dollar 0 9850/ 0
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    • Article
      Zurich
      67 8 ZURICH exchanges closing quotes on Oct 12 US 2 3022 3037 UK 4 0561 0587 Can 2 1088 1104 W Oerm 100 35 41 Neth 04.08 11 Prance 47 .26 29 Bel# 6 4753 4812 Denm 37.56 50 Norw 41.85 88 Swed 47 84 87 Italy 0 2811 2812-1/2
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    • Article
      Frankfurt
      38 8 FRANKFURT exchanges opening quotes on Oct 13. US 2 2858/88 Can 2.0085/0005 UK 4 030/045 Neth 93.82/02 Swlts 90 52/82 Italy 2 503/603 Prance 47.01/11 Norw 41.00/00 Belg com 6 435/445 Belg fin 6 44/45 Japan 0.8030/45
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    • Article
      Eurobonds
      277 8 LONDON. Thurs. Straight US dollar bonds fell by as much as 3/4 point In nervous professional short selling ahead of the US money supply figures expected today, dealers said. Eurobond prices quoted on Oct 13 Straight* BM Offer Austria 8*. 90 101* 102 BFCE8*k83 100 101 Brazil 9* 84
      277 words
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      171 8 -"2 v.- rti MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia. The
      171 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Govt will act if strike worsens
      287 9 Washington Star WASHINGTON, Thurs. Labour Secretary Ray Marshall said yesterday that the Carter Administration would consider invoking the Taft-Hartley Act's back-to-work provisions if the dock strike on the Atlantic and Gulf coasts worsened. Mr. Marshall reiterated the Administration's stand that Taft-Hartley would not be
      Washington Star  -  287 words
    • Article
      Lock icon Business is booming for airlines
      275 9 AP NEW YORK, Thurs. While shipping-related industries predicted vast unemployment as the result of a dock strike alone the US Atlantic and Gulf of Mexico coasts, air carriers said yesterday their business was booming. But the Commerce Department warned that the strike would aggravate the
      AP  -  275 words
    • Article
      Lock icon French crews critical of police methods
      156 9 Reuter PARIS, Thurs. French airline crews yesterday criticised their country's methods of combatting air piracy and said they Would begin their own antihijacking courses If airlines failed 'to do so. Members of the French Federation of Civil Aviation Crews (FFNAC) told a press conference
      Reuter  -  156 words
    • Article
      Lock icon Hearings on new airport rules
      164 9 AP NEW YORK, Thurs. The Port Authority announced yesterday that It would hold hearings next Monday and Wednesday In the borough of Queens and in Newark, New Jersey, on proposed new regulations for its metropolitan airports, Including allowing an immediate three-month test of the Concorde
      AP  -  164 words
    • Article
      Lock icon Two-cycle engine
      98 9 Reuter TOKYO, Thurs. Toyota Motor Co and Nippon clean Engine Laboratory Jointly developed a fuel-saving two-cycle mutli-purpose engine, which halves fuel consumption compared with a conventional engine of the same capacity, the laboratory said. It said the improvement is in the scavenging system and spark plug, but gave
      Reuter  -  98 words
    • Article
      Lock icon Hovercraft versus hydrofoil
      996 9 FT LONDON: Two novel forms of ferry transport, the hovercraft and hydrofoil, are locked In a quiet battle for customers. The outcome may well decide the kind of short-sea transport that people the world over will be using In the eighties. Until 1861, basic ship design had
      FT  -  996 words
    • Article, Illustration
      IN PORT
      341 9 expected arrivals TODAY keppel WHARVES Buenos Aires Maru (JNGO) (2000 req. Starboard to) 35/36 Chidambaram (0900 after Tarantel) 1/2 England Maru (0700 after Tamuraeverett) 6/7 Fedor Petrov (0600) 29/30 Irkutsk (0600 after Med an Maru) 15/16 Kim Ann (1500 46 Kota Ball (1500 after Jlangyln) 13/14 Ocean Supply
      341 words
    • Article
      Lock icon HK trams far from the end of the line
      537 9 Reuter HONGKONG. Thurs. An underground railway Is under construction, motorways and flyovers are multiplying, but through It all, Hongkong's trams continue to trundle along. A form of transport long since pibandoned by most Western cities, trams are still a vital part
      Reuter  -  537 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      172 9 AP LONDON, Thurs. Uncertainty surrounding the US dock strike hampered freight market business yesterday, virtually eliminating fresh fixing from the US Oulf origin. However, some fixing emerged from the Oreat Lakes, St. Lawrence and US Atlantic coast outlets. Tradax took the "Paulina C." with a total of
      AP  -  172 words
    • Article
      Lock icon McDonnell Douglas and JAL to pay $23m to families
      171 9 Reuter ST LOUIS. (Missouri), Thurs. McDonnell Douglas Corporation and Japan Air Lines (JAL) have agreed to pay US$9.5 million (Ss23 million) to the families of 29 people killed in a JAL DC-8 airliner crash near Moscow five years ago, a McDonnell
      Reuter  -  171 words
    • Article
      Lock icon Peugeot's latest
      83 9 AFP PARIS, Thurs. Peugeot, the French car company, Is to bring out a new model the 305 in its well-known numbered series, it was confirmed recently. It will be marketed next month In several seven and eight horse-power versions at prices ranging from about 26,000 to 30,000 francs
      AFP  -  83 words
    • Article
      Lock icon Japanese dock for Soviets causes concern
      325 9 UPI TOKYO, Thurs. The Soviet Union has signed a contract with a Japanese shipbuilder for a huge floating dock in preparation for assigning an aircraft carrier to its Far Eastern naval fleet, a Tokyo newspaper said today. Quoting sources close to the Japanese Self-defence
      UPI  -  325 words
    • Article
      Lock icon British yards urged to cut costs to survive
      190 9 AFP LONDON, Thurs. British shipbuilding yards can today face competition from other European yards effectively but their prices remain 30 to 40 per cent above those of builders in the Far East, Admiral Sir Anthony Griffin, chairman of British Shipbuilders, said yesterday.
      AFP  -  190 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      595 9 ARRIVALS Servicc Local Operator Number Time From KAL KE807 0015 SEL CAL CI 331 0040 TPE/HKG/KUL MAS MH682 0810 KCH PAN PA847 0810 SFO/HNL/GUM GIA GA900 1000 HLP GIA GA980 1030 HLP SIA SQ211 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1115
      595 words
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  • Article
    Lock icon Acting chief acts the part
    841 10  -  By LEE COHN Washington Star WASHINGTON: James T. Mclntyre does not pretend that he can fill Bert Lance's shoes, but he looks and talks more like a director of the Office of Management and Budget than Mr Lance did. Mr Lance, a big man who
    Washington Star  -  841 words
  • Article
    Lock icon The deal that was too good
    2054 10  -  NORTH SEA ENERGY By KEVIN DONE FT TUCKED away among the supplementary data of the UK Department of Energy's latest bulletin on Energy Trends was the stark fact that the average price of gas supplied to large Industrial customers had shot up by some
    FT  -  2,054 words
  • Article
    Lock icon US energy plans crippled
    1026 10  -  By MICHAEL POSNER Reuter WASHINGTON: Despite President Carter's grim warning of an Impending energy crisis, Americans seem unconvinced that a serious shortage is imminent. The most dramatic evidence of popular feeling comes at the petrol pumps. This past summer, Americans burned record quantities of fuel as
    Reuter  -  1,026 words
  • Article, Illustration
    Lock icon Critical times for Japan's steel industry
    696 10  -  By MARIE FRANCE ROUZE AFP TOKYO: The future does not look too bright for Japan's steel industry, the third largest lp the world. Japanese producers, accused of dumping by the United States, have been going through a serious crisis since 1974 and the worfd
    AFP  -  696 words
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      Page 10 Advertisements Column 1
      55 10 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search tor his roots in Africa. ROOTS has sold over 1 1 million hardback copies since its publication and it is continuing to top the bestseller lists even
      55 words
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  • Article
    Malaysian trade: Bremen has vital role
    546 11 KUALA LUMPUR, Thurs. The West Oerman State of Bremen can play an important role in the expansion of Malaysian-West Oerman trade relations, particularly In view of Malaysia's raw material resources and the upward trend of Its economy. This Is Illustrated by the fact that
    546 words
  • Article
    Set-up of Asian Reinsurance: Two sign up
    250 11 AFGHANISTAN and the Philippines have joined five others India, Iran Bangladesh, Sri Lanka and Thailand as signatories to an agreement establishing an Asian Reinsurance Corporation, at the United Nations Building, Bangkok, on Sept 30. Signing the agreement on behalf of their respective Kvernments
    250 words
  • Article
    Lock icon Russia strikes oil offshore
    244 11 UPI MOSCOW, Thurs. The Soviet Union has discovered oil In the Sea of Okhotsk In the Soviet Par East, the official news agency Tass said yesterday. "The flrsf oil was produced trom the depths of the sea, thereby confirming Soviet experts' forecasts as to the possibility
    UPI  -  244 words
  • Article
    Lock icon CONSTRUCTION BOOM
    79 11 UPI SEOUL, Thurs. South Korea licensed 44 firms including 10 general trading companies to engage In overseas construction projects. This brings the total of South Korean firms authorised to do overseas construction work to 122. With the rapid growth of construction service exports, particularly to West Asia, overseas
    UPI  -  79 words
  • Article
    Officer named to issue ICA licences
    166 11 KUALA LUMPUR, Thurs. The secretary-general of the Trade and Industry Ministry, Tan Sri Nasruddin Mohamed, has been appointed the licensing officer for industrial coordination. The Prime Minister, Datuk Hussein Onn made the appointment under the Industrial Coordination Act (ICA) 1975. Under the amendments to
    166 words
  • Article
    British products go on display tomorrow
    207 11 MORE than $5 million worth of merchandise will be displayed at "British Fortnight", a promotion of British-made products to be held at Robinson's department store at Specialists' Centre and Clifford Centre beginning tomorrow. The acting British High Commissioner, Mr. E.N. Smith, will open the
    207 words
  • Article
    Opening of fertiliser warehouse
    133 11 SOUTH East Asia Fertiliser (SEAFCO), will officially open its newlycompleted warehouse for bulk fertilisers at Jurong Port today. The company was Incorporated In 1969 by a group of European potash producers and Is headed by two managing directors, Mr. M. Wegner and Mr. M. Rhelnbaben. The
    133 words
  • Article
    Rediscount rate hike won't hit exports
    436 11 SINGAPORE'S export drive should not be hurt despite the fact that export financing using the facility offered by the Monetary Authority of Singapore will become slightly more expensive with the hike In the rediscount rate for preexport and export bills from 3 to 3V4
    436 words
  • Article
    Unico to make clock-radios
    270 11 UNICO Electronic Corporation Pte Ltd will produce Singapore's first portable clock-radio In December. Mr Peter Chang, the company's marketing manager told Business Times Unico will initially produce 400 units of AM/FM and LW/FM models. This will be Increased to 4,000 units in January next year. Unico
    270 words
  • Article
    S. Korea to move away from textiles
    388 11 SEOUL, Thurs. South Korea plans to Increase sharply its exports of heavy plant, chemical and manufacturer! goods, while reducing the relative importance of textiles, government trade officials said. Under South Korea's ports is expected to fall to 26.4 per cent by 1981 from
    388 words
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    Lock icon Seoul forex holdings
    216 11 UPI SEOUL, Thurs. South Korea's foreign exchange holdings exceeded the US$9 billion (Ss22 billion) mark at the end of September but money volume In circulation increased rapidly and inflatlen showed a steady pace, a government report said today. The Economic Planning Board said In a monthly economic
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    Lock icon Tokyo sugar bill soon
    247 11 UPI TOKYO, Thurs. The government will aoon introduce in Parliament a bill to regulate sugar imports In an effort to help rehabilitate the deficit-ridden sugar refining Industry, a vernacular daily reported today. Japan's sugar imports were liberalised in 1963, but under the sugar price stablllstion law,
    UPI  -  247 words
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    Lock icon Fukuda backs Japan-EEC study group
    428 11 Fukuda backs JapanEEC study group Reuter TOKYO, Thurs. Japanese Prime Minister Takeo Fukuda last night backed the establishment of a joint study group to monitor trade relations between Japan and the European Economic Community (EEC), Informed sources said. Establishment of the group, which would Identify trade problems and suggest solutions
    Reuter  -  428 words
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    Lock icon Uranium boosts import contracts
    115 11 AFP TOKYO, Thurs. Japan's import contracts, licensed in September by the government, rose 9.2 per cent over last year to total U556.27 billion (Ssls billion) the Ministry of International Trade and Industry said. But without the import of enriched uranium and other nuclear energyrelated supplies worth
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    UK seminar for senior managers
    263 11 SENIOR management has the major responsibility for the most critical area of corporate Activity today: the formulation of strategies for boosting short-term earnings, penetrating of new markets and development of new products and services. This is the theme behind the presentation by AMR International and
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    Lock icon Philippines plans $2.4b annual borrowing
    531 11 Reuter FRANKFURT, Thurs. The Philippines plans to Increase Its foreign debt by around US$l billion (552.45 billion) annually over the next few years as part of its estimated yearly need for capital imports of around $1.2 billion, Philippines Secretary of Finance Cesar Virata said. In
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    Lock icon More bilateral Aussie aid
    143 11 UPI MANILA, Thurs. Australia lias increased its bilateral development assistance to the Philippines by an additional AS2O million (Sss4 million) since the August summit meeting of Asean, Mr. D O. Nutter, Australian Ambassador to the Philippines said today. "This brings the total Australian commitment of grant
    UPI  -  143 words
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    Lock icon Sudomo awaits nod from Suharto
    154 11 Reuter JAKARTA. Thurs. The chief of the current anticorruption campaign, Admiral Sudomo, has said he is awaiting the approval of President Suharto to investigate the personal wealth of ranking Indonesian officials, the semi-official dally newspaper Suara Karya reported today. Adm. Sudomo, who is commander for
    Reuter  -  154 words
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    Germans set up lock plant
    121 11 TWO GERMAN manufacturers are setting up a $1.6 million Joint venture plant in Singapore to produce bicycle locks for export. They are August Wlnkhaus.who also produces bicycle locks for the European market, and Matzen and Timm, exporter/manufacturer of flexible tubes. The August Wlnkhaus has an
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    Tie-up with tour firm
    61 11 SCENIC Travel Services of Singapore recently signed an agreement with Ball's Coconut Grove, a Ball-nese-style resort hotel. Effective this month. Scenic Travel Services will be responsible for the land arrangement of Coconut Grove s Australia via Bali tour package In Singapore and also the sales and
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    Lock icon Sevenyear paper issue
    129 11 Reuter MANILA, Thurs. The Philippines Central Bank said it will issue next week a second 200 million peso batch of seven-year certificates of indebtedness with option for redemption at face value after five years. Interest is 9 per cent for the first five years, 9.5 per cent
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    Lock icon Spanish rift
    29 11 Reuter MADRID, Thurs. Spain's labour unions appeared divided yesterday over austerity measures agreed by Prime Minister Adolfo Suarez and opposition leaders to shore up the economy Reuter.
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    Lock icon Accord on need to hike oil price
    358 12 Reuter VIENNA, Thurs. Oil producers and Western oil executives agreed yesterday that prices of crude oil would have to rise substantially If the world's dwindling supplies were to be conServed. This was the chief point of agreement to emerge from a three-day seminar
    Reuter  -  358 words
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    Lock icon IRANIAN DENIAL
    47 12 Reuter TEHERAN, Thurs. A spokesman for the stateowned National Iranian Oil Company denied a Kuwaiti newspaper report that Iran is about to cut the price of its heavy crude. Kuwait recently lowered the price of Its heavy crude to compete with equivalent Baudl crude. Reuter.
    Reuter  -  47 words
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    Lock icon Tokyo asked to okay payments to Sutowo: SEC
    423 12 UPI WASHINGTON, Thurs. The Japanese government was asked to approve questionable payments made by a Japanese company to Ibnu Sutowo, former head of the Indonesian state oil company Pertamlna for a New York restaurant, US Securities and Exchange Commission records show. An
    UPI  -  423 words
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    Lock icon Lighter tax burden for Britons soon
    475 12 Reuter LONDON, Thurs. tJK Chancellor of the Exchequer Denis Healey today told Cabinet colleagues and Labour Party executive members he proposes to announce measures "to put more money in people's pockets" this autumn and to provide special help for the construction industry, informed political
    Reuter  -  475 words
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    LONDON STOCKS
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    Lock icon US steel industry brings case to White House
    390 12 UPI WASHINGTON, Thurs. The US steel industry, troubled by Imports and massive layoffs, has taken Its case to the White House In order to win protection from foreign Imports. Some 62,000 steelworkers laid off because of foreign Imports now are getting federal
    UPI  -  390 words
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    Cool taxi rides to cost extra 20c from today
    344 12 FROM TODAY, taxi passenger* travelling in cool comfort have to pay 30 cents extra per trip. The government has given the go-ahead for operators of air-conditioned taxis to charge the extra fore. A government statement said last night: "This extra charge,
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    Lock icon NORWAY CLOSES BRAVO WELL
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    Reuter  -  117 words
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    Lock icon US deficit won't improve
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    Malaysian private sector seeks more positive role
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    Lock icon Yen soars to all-time high
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    Reuter  -  547 words
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    Lock icon Adapt to Asia, Aussies told
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    UPI  -  313 words
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    Lock icon Asean fair team
    377 12 Reuter MANILA, Thursr An Australian mission Is to visit Asean members soon to arrange for an Asean trade fair towards the end of next year, the Australian embassy said here today. Its spokesman was elaborating on a speech made earlier today by Australian Ambassador D. O. Nutter
    Reuter  -  377 words
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    RHODESIA DEVALUES
    70 12 SALISBURY, Thurs. The government today announced a two-tier devaluation of the Rhodesian dollar because of Rhodesia's present unfavourable balance of payments situation and the effects of the international recession. Minister of Finance David Smith said in Parliament the dollar was being devalued by about 3 per cent against
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