The Business Times, 11 November 1977

Microfilm: NL9610
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, NOVEMBER 11, 1977 50 CENTS
    10 words
  • Article
    Lock icon Rich back commodity funding
    264 1 AP GENEVA, Thurs. The rich Industrial nations yesterday offered to provide financial backing for commodity price stabilisation Including the common fund they have proposed. The backing, in the form of government guarantees, would be made available to the fund through International commodity agreements providing for buffer
    AP  -  264 words
  • NEWS IN BRIEF
    • Article
      Lock icon Oil output down
      69 1 AFP KUWAIT, Thurs. Kuwaiti oil output has fallen about 40 per cent in the past five years due to the saturation of the international market and the country's policy of keeping up prices, the newspaper A 1 Anaba said today. This year the average crude oil production
      AFP  -  69 words
    • Article
      Lock icon Untying foreign aid
      72 1 UPI TOKYO, Thurs. The Japanese government is considering "untying" the foreign aid it offers to developing countries, so that the money would not have to be used to buy Japanese goods and services, Foreign Ministry spokesman Kensuke Yanagiya said today. He declined to predict when such a
      UPI  -  72 words
    • Article
      Lock icon Slightly off
      76 1 Reuter TAIPEH, Thurs. Taiwan's economic growth this year will be around 8 per cent, slightly below the 8.5 per cent target, the Economic Planning Council forecast. Reporting to the Legislative Yuan (Parliament) this morning, the council's chairman Yang Chla-Un said industrial output for the current year would register
      Reuter  -  76 words
    • Article
      Lock icon More tourists
      71 1 Reuter HONGKONG, Thurs. Hongkong's booming tourist industry, now in the midst of its peak season, recorded a 14 per cent rise In visitor arrivals In the first nine months of the year, according to official figures published today. Nearly 160,000 tourists poured into this shopping Mecca with almost
      Reuter  -  71 words
    • Article
      Lock icon Loan for firms
      57 1 AP BANGKOK, Thurs. Vietnam's state bank has loaned more than 40 million piastres (5531.2 million) to Joint state-private firms In the Saigon suburban area this yea Vietnam News Agency said today. A VNA dispatch said loans were given to factories producing agricultural equipment, stock feed, insecticides, fertiliser,
      AP  -  57 words
    • Article
      Lock icon More port facilities
      57 1 AFP MANILA, Thurs. A Philippines subsidiary of Japan's Kawasaki Steel Corp. today announced it would open its port facilities to the public on Mindanao island to speed up economic progress in the area. Philippine Sinter Corp. president Motoi Sakakl said the Its cargo berth facilities can accommodate
      AFP  -  57 words
    • Article
      Lock icon German investment
      74 1 AFP FRANKFURT, Thurs. West German investments In the United States will this year total some 1,500 million marks (about SJ 1,550 million) which is "a considerable rise", the Bank Fuer Gemeinwlrtschaft estimated today. Total direct Investment in the US would thus amount to 7,000 million marks so far
      AFP  -  74 words
    • Article
      Lock icon Dow Jones
      52 1 UPI NEW YORK, Thurs. Stocks were broadly and irregularly higher early today in moderately active trading. Advances outnumbered declines, 694 to 284 among the 1,429 issues crossing the tape. The Dow Jones industrial average, which gained 2.16 points yesterday, was off 0.77 point to 817.66 shortly before 1600
      UPI  -  52 words
  • Article
    Sugar price hits five-year low
    765 1  -  OPPORTUNITY FOR EXPORTERS By CHAN BONG SOO SUOAE-BASED Industries In Singapore should have cause to rejoice over the continued fall In the price of raw sugar which hit Its fiveyear low of £85 (about (*****) per tonne on the London market on Wednesday. The spot
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  • Article
    Ship study for S'pore
    231 1 SINGAPORE has been assigned by Asean shipowners to undertake a study on shipbuilding and designing for the needs of Asean. The Republic's project Is one of five proposed yesterday for possible regional implementation by the shipowners. The Federation of Asean Shipowners' Association meeting, which closed yesterday
    231 words
  • Article
    China may resort to foreign credit
    708 1  -  ■y TERESA LIM CHINA, almost the only active buyer and seller in shipping this year, may draw on foreign credit soon to finance its rapid merchant and cargo fleet expansion. This It will do reluctantly since it has always had a very conservative fiscal
    708 words
  • Article
    Tokyo exporters are losing out
    388 1 TOKYO, Thurs. Faced with high labour costs and the rising value of Its currency, Japan Is losing dominance as the world's top exporting power to developing economies, most notably Its Asian neighbours South Korea, Taiwan, Hongkong and Singapore. The four rivals have expanded their exports
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  • Article
    Lock icon Japan to cut tariffs on dozens of goods
    239 1 AFP TOKYO, Thurs. Japan will cut tariffs on down* of manufactured good*, including electronic computer!, car* and parte, and Alma next April ahead of the planned large-scale tariff reduction baaed on the Tokyo round of multilateral trade negothlioni. According to Finance Ministry
    AFP  -  239 words
  • Article
    Our interest rates among lowest in the world
    653 1  -  ■y SOH TIANG KENG INTEREST rates in I Singapore are among the lowest in the world's financial centres, but still higher than Hongkong's. This is revealed by figures published in the latest issue of World Financial Markets, monthly bulletin of the Morgan
    653 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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      Page 1 Advertisements Column 2
      120 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. 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 and
      120 words
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      3 1 SEE PAGE II
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      Page 1 Advertisements Column 4
      232 1 Gel advanced copying technology. Browning's bold new shape toward better golf is way out in front! This is the Browning 440 Some will call it daring, provocative or simply different. The designers of this unique iron are confident that you will soon call it the most effective, solid feeling iron
      232 words
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  • OVERSEAS
    • Article
      Lock icon Money supply ahead of target
      403 2 HOT MONEY KILLS ESTIMATES Reuter LONDON, Thurs. Banking statistics for the four weeks to Oct 19 suggest British money supply has already exceeded the government's 9 to 13 per cent growth guideline for sterling M 3 in the 1977 financial year beginning in April, banking
      Reuter  -  403 words
    • Article
      Lock icon Firemen plan workout next week
      170 2 UPI LONDON, Thurs. Britain is mobilising the army, the navy, the air force and the "green goddesses" to meet a planned walkout of firemen next week. The nation's 33,000 firemen say they will refuse to answer fire calls or emergency ambulance duties as from Monday
      UPI  -  170 words
    • Article
      Lock icon Union chiefs back pay rule
      278 2 Reuter LONDON, Thurs. Britain's trade union leaders reaffirmed their strong support for the rule that pay settlements reached under the phase two official incomes policy may not be reopened within one year, informed union sources said. The union leaders, meeting as the economic committee of
      Reuter  -  278 words
    • Article
      Lock icon Workers split on power go-slow
      233 2 Reuter LONDON, Thurs. Britain faced further electricity cuts today as power station workers split over whether to continue a go-slow which has disrupted the country for over a week. The 11,000 militant workers, seeking higher travel allowances, and benefits such as free electricity, voted on
      Reuter  -  233 words
    • Article
      Lock icon Telex links may be hit
      32 2 Reuter LONDON, Thurs. Telex communications between Britain and abroad will be increasingly liable to delay because of an Industrial dispute, the Post Office said early today. Reuter.
      Reuter  -  32 words
    • Article
      Lock icon Henley, predicts mixed outlook for Britain
      269 2 Reuter LONDON, Thurs. The Henley Centre for forecasting, a private UK research body, suggested that annual British output growth will reach close to 3 1/2 per cent by mid-1985 and Is unlikely to drop below a long-run average of 2 1/2 per cent from
      Reuter  -  269 words
    • Article
      Lock icon Parliament gives the thumbs up
      47 2 Reuter LONDON, Thurs. Parliament last night endorsed the policy of Britain's Labour Government, which declared the speediest possible return to full employment to be its main objective. The vote formally opens the way for the government to start on its legislative programme.
      Reuter  -  47 words
    • Article
      No idea how much grain Soviets seek to buy
      529 2 WASHINGTON, Thurs. The US government has no way of knowing how much American grain the Soviet Union may have bought already or arranged for through secret foreign deals, Agriculture Secretly Bob Bergland said. Asked about trade reports that the Soviets may
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    • Article
      Lock icon Very sure USSR made some deals
      147 2 Reuter LONDON, Thurs. Grain traders here say they are becoming Increasingly convinced some sizeable pain purchase negotiations have been concluded or are nearlng completion between the Soviet Union and International grain exporters. They were unable to confirm any recent fresh spate of unidentified reports
      Reuter  -  147 words
    • Article
      Lock icon ILO may dismiss 180 workers
      349 2 Reuter GENEVA, Thurs. Eighty executives and 100 lowergrade staff may lose their Jobs with the International Labour Organisation (ILO) because of its current financial crisis, a senior ILO official said yesterday. Mr. Jacques Martin, chief of the organisation's budgets, programmes and management, said the ILO
      Reuter  -  349 words
    • Article
      Lock icon Coca-Cola
      30 2 AFP ATLANTA, Thurs. The Coca-Cola Company was yesterday making every effort to enter the Chinese, Arab and Soviet markets, Paul Martin, president of the US soft-drink firm, revealed.— AFP.
      AFP  -  30 words
    • Article
      Lock icon Russians move to raise farm output
      83 2 UPI MOSCOW, Thurs. The Soviet leadership moved yesterday to Improve its agricultural production in the wake of a disappointing grain harvest. The official Tass News Agency said the Central Committee of the Communist Party and Council of Ministers ordered the transfer of "agriculture specialists"
      UPI  -  83 words
    • Article
      Lock icon French bakers shape-up to beat price freeze
      245 2 AFP MARSEILLES. Than. The war of the Preach corissant, the cresosat-shaped breakfast pastry, escalated yesterday when Marseilles shops introduced a straight pastry to beat the price freeze impoeed by Premier Raymond Barre. The shops called the new delicacy "le petit barre" (the "little
      AFP  -  245 words
    • Article
      Lock icon Bank of Rome chief executive arrested
      163 2 Reuter MILAN, Thurs. The chief executive of the Bank of Rome, Mario Barone, was arrested here yesterday in connection with the collapse of a private bank run by Italian-American financier Michele Sindona, police said. Barone, whose hank is one of the five biggest in
      Reuter  -  163 words
    • Article
      Lock icon Banker sees weaker US$ next year
      297 2 Reuter FRANKFURT, Thurs. The dollar will most probably recover slightly against the mark on technical grounds during the rest of this year, but Is likely to go lower again in 1978 on the basic consideration of the US trade deficit, Commerzbank managing board member
      Reuter  -  297 words
    • Article
      Lock icon Carter's policy will be queried
      189 2 Reuter LONDON, Thurs. Harris Bank economists said President Carter's leadership on economic policy Is being Increasingly questioned, both in the US and abroad, and the dollar's slide on exchange markets may well continue In the near term. The bank's International group vice president Talat Othman
      Reuter  -  189 words
    • Article
      Lock icon A different view
      84 2 Reuter FRANKFURT. Thurs. Commerzbank believes the dollar will fall to 2.20 marks In the short to mediumterm and depreciate still further against the mark In the long-term, managing board member Juergen Reimnltz said. He said he expects a US trade deficit of almost US$4O billion (Ss96 billion)
      Reuter  -  84 words
    • Article
      Lock icon UK leads the way in adding to reserves
      318 3 AP WASHINGTON. Thurs. Great Britain led the way In Increasing external reserves in the third quarter among the Industrial countries, the International Monetary Fund reported yesterday. At the same time, the fund's November edition of International Financial Statistics reported that export-import prices
      AP  -  318 words
    • Article
      Lock icon Bribe probes meet Swiss silence
      261 3 Reuter BERNE, Thurs. Switzerland has refused to lift Its traditional veil of secrecy on bank accounts to help foreign investigations In bribe scandals. The government said yesterday It had turned down three requests from Italy and one from Canada for Information about numbered Swiss Bank
      Reuter  -  261 words
    • Article
      Lock icon Corporate profits may not be enough
      212 3 Reuter CHICAGO, Than. Corporate profits may be inadequate to rapport even a 6 per cent real gala in business investment next year, which would be down from the projected 9 per cent growth in 1977, First National Bank of Chicago economist David Woolford said.
      Reuter  -  212 words
    • Article
      Lock icon Bank loans rise
      54 3 AFP NEW YORK, Thurs. United States companies have been borrowing more from banks, according to a survey by the Federal Reserve of New York. In the three months to Oct. 26, bank loans to firms rose at a rate of 9.7 per cent against 4.6 per cent
      AFP  -  54 words
    • Article
      Lock icon US economy may grow by spc
      178 3 Reuter LONDON, Thurs. John Wa&ge, vice-chairman of the board of Manufacturers, Hanover Trust Co, said US economic growth will probably be In the S per cent area this year. In a speech to the SwissAmerican Chamber ofCommerce In Zurich, he said although this growth
      Reuter  -  178 words
    • Article
      Lock icon Further dollar fall is taboo
      157 3 Reuter TOKYO. Thurs. Central bankers meeting at the Bank for International Settlements (BIS) in Basle early this week agreed further depreciation of the US dollar Is undesirable, Bank of Japan governor Tellchlro Morinaga said. Mr. Morinaga had been briefed on the Basle meeting by the
      Reuter  -  157 words
    • Article
      Lock icon Recovery at foreign exchange markets
      205 3 UPI BRUSSELS, Thurs. The US dollar recovered at the opening of Europe's foreign exchange markets today following remarks by US Federal Reserve Board chairman Arthur Burns. Gold fell back from its highest closing levels since May 1975 opening $1 lower In Zurich at $166,625 and
      UPI  -  205 words
    • Article
      Lock icon Fed intends to curb money supply growth
      1101 3 BURNS DEFENDS POLICIES NYT WASHINGTON. Thurs. The Federal Reserve System Intends to keep the brakes on money supply growth, an Indication of probable further tightening of shortterm interest rates. Federal Reserve Board chairman Arthur Burns, who already Is under fire for tighter money
      NYT  -  1,101 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      123 2 Item U FURfIITURE QUALITY SHELVINGS AND OFFICE EQUIPMENT JW M'« 1 :::n 3S IS Ifi i 1 r OEM pallet racking is especially designed for easy installation and incorporating safety devices for maximum load up to 3000 Kg. OEM open and closed type shelvings provide flexible load carry capacity for
      123 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      307 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Nov 10 at Singapore airport. Maximum Temperature 30.8° C Associated Humidity 72 Minimum Temperature 22.6° C Associated Humidity 100 Hours of Sunshine 6.15 Rainfall in Millimetres 3 Total Rainfall for the Month 122.0 Total Rainy Days for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      607 2 TWO-IN-ONE CROSSWORD EASY PUZZLE ACROSS 4 Brandy (6) 7 Captive (8) 8 Mistakes (6) 10 Spice (5) 13 Authentic (4) 14 Eastern garment (4) 15 Game (4) 1C Maul (3) 17 Btretched tight (4) 18 Ran away (4) 31 Breed of dog 23 Swallow (4) 34 Amphibian (4) Goods vehicle
      607 words
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      218 3 I iiltSs */x rv M A V*' ftgfe -*&m» Every Sunday, Pan Am gets you to Hongkong and San Francisco faster than any other airline. Now Pan Am gets you to Hongkong and San Francisco ahead of all other airlines Every Sunday, Pan Am leaves Singapore at 0820 for Hongkong
      218 words
  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      42 3 ißristow Ffank BickenS I CWMT U*MT t»u_ t*\OrJDPls/.... r I'U. 6C l£ONG>ir*b ABOUND IM R i Nice. Tee: smvrt FLflfeD JEPiMS, DWKtC [gg** ■> I DON'T R&ftuse. Nou ue«e ON wov.IORV N£<T ueex. I'm f4OT. RjDGC IS So vrn Ccrn*ro ib U)orv: veflSUftL.
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  • COMPANY NEWS
    • Article
      Loytape creeps into the black after two years
      328 4 AFTER sustaining losses for the past two years, Loytape (formerly known as Adhesive Tape Incorporated (M)) Anally managed to report a small profit for the year ended May 31, 1977, thanks to higher turnover and lower production costs. However, its pre-tax profit
      328 words
    • Article, Illustration
      Guinness Malaysia poised for another successful year
      720 4 GUINNESS Malaysia has made an encouraging start In the current financial year and barring any major duty Increases in Its markets, the brewery anticipates another successful year. For the year to Aug 31, 1977 sales rose 11.2 per cent to touch Mslll million
      720 words
    • Article
      DIVIDENDS ANNOUNCED
      320 4 Current Ex Date Total for Total for payment Date payable the year previous year Aycr Hitam Plan tine 15% Oct 24 Nov 11 15% 15% Highlands and Lowland* 25%I Sept 28 Nov 11 25% 40% Kuala Sidim tciu Nov 15 Dec 5 35% 5% Datuk Keramat 25%I Oct
      320 words
    • Article
      Latest results from UIC
      132 4 United Industrial Corporation: Audited group pre-tax profit $8.87 million ($7.35 million) on turnover $33.95 million ($49.67 million) for the year ended July 31,1977. Operating profit $8.78 million ($7.35 million) and share of associated com¥any profit $90,000 (nil). ax $3.44 million (3.35 million), leaving after-tax profit $5.43
      132 words
    • Article
      Reduction in costs boosts Dutch Baby
      282 4 A REDUCTION la production cost* u a result of loww prices of imported raw .material* ud divermiflcation into new product Uaee combined to boeet profits at Dutch Baby Milk Induetrie* (Malaya) for the first •even months of the current year ending Dec 31, 1»77.
      282 words
    • COMPANY MEETINGS
    • Article
      Issues dearth lulls stock mart
      917 4  -  By MANO SABNANI STOCK exchanges are generally regarded as Institutions whose malor social purpose Is to mobilise funds Into Industries and enterprises. However, whether new capital raised annually via the Stock Exchange of Singapore has been significant Is debatable. So far this year, the market
      917 words
    • Article
      Profit at Jack Chia-MPH group soars 36 per cent
      562 4 THE Jack Chla-MPH group, which chalked up a record pre-tax profit of $5.05 million for the year ended March 31, 1977, is likely to achieve equally buoyant results In the current year Judging by its performance to-date. For the six months
      562 words
    • Article
      Lock icon Analyst wins praise for accuracy in forecasting
      854 4 NYT NEW YORK: At a meeting last month of the New York Society of Security Analysts, the proEmme chairman lntroed Mr. Francis H. M Kelly as the man whose stock market strategy since the autumn of 1976 has been the most correct among
      NYT  -  854 words
    • Article
      Sony Corp . in marketing tie-up
      94 4 Sony Corp in marketing tie-up TOKYO, Thurs. Bony Corp and Bhin-Nlppon Electric Co of Japan have formed a business tie-up to develop and "market homeuse video tape recorders <VTR) in Japan. Under the agreement, Shin-Nippon Electric, affiliated with Nippon Electric Co (NEC), will begin marketing VTR machines, manufactured by Sony
      94 words
    • Article
      Bank profit
      34 4 TOKYO, Thurs. The Bank of Japan reported a 36.7 per cent gain In pre-tax profit for the first half-year ended Sept 30, 1977, to 49.03 billion yen from 358.69 billion yen previously.
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    • Article
      Toray foresees sharp profit fall
      206 4 TOKYO, Thurs. Toray Industries Inc said it expects net non-consolidated Income for the current year ending March 31, 1078 to fall sharply to about 700 million yen from 4.10 billion yen In 1976/77. Sales are expected to fall to 410 billion yen from 418.06 billion
      206 words
    • Article
      Rhinechem Laboratories
      77 4 NEW YORK, Thurs. Rhinechem Laboratories Inc, a subsidiary of Bayer AO, said It had received 4,352,700 shares or about 81 per cent of Miles Laboratories Inc's common stock In response to Its tender offer for all shares at $47 each. The company said It has purchased 3,684,294 of
      77 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Corporate profit margins inadequate for boom
      164 5 NORTH AMERICAN COMPANIES Reuter US corporate profit margins climbed in the first half of 1977, but not enough to support a much-needed boom in capital spending, the Conference Board said in its monthly magazine. The board said most corporations have a reasonably comfortable liquidity
      Reuter  -  164 words
    • Article
      Lock icon Tenneco estimate
      80 5 Reuter COMMERZBANK AG said Tenneco Inc profits per share this year are estimated at around U554.55 against $4.33 in 1976. Companv president James Ketelsen told Journalists at a presentation to Introduce Tenneco shares on the Frankfurt and Duesseldorf stock exchanges that capital investments In the company's oil division
      Reuter  -  80 words
    • Article
      NYC offer
      35 5 NEW York City's first effort to publicly offer debt instruments since 1975 is now scheduled for Nov 17, Merrill Lynch, Pierce, Fenner and Smith Inc said as lead manager for the proposed offering.
      35 words
    • Article
      Lock icon ITT third quarter results fuel hopes of record gains
      481 5 Reuter INTERNATIONAL Telephone and Telegraph Corp. reported an increase In third quarter profits to US$l.O9 a share from 83 cents a share for the same period last year. Revenues were $3.09 billion compared with $2.68 billion in 1976. For the first
      Reuter  -  481 words
    • Article
      Lock icon Chrysler expects no adverse effect
      155 5 Reuter CHRYSLER Corp said the decision of Avis Inc to change its major car supplier to General Motors Corp from Chrysler in the 1979 model year will have no adverse effect on Chrysler from a volume or profit point of view. At the company's annual
      Reuter  -  155 words
    • Article
      Lock icon G&W EXCHANGE
      134 5 Reuter GULF and Western Industries Inc said it will make a new exchange offer for its s'/i per cent convertible subordinated debentures, due July 1, 1993, with terms and conditions similar to those of an offer it made for the debenture issue earlier this year. Under thfc new
      Reuter  -  134 words
    • Article
      Lock icon No tax limits for HK stock mart
      295 5 ASIAN COMPANIES Reuter HONGKONG Financial Secretary Philip HaddonCave said It would not be satisfactory to set arbitrary limits beyond which stock market operators would be classified for tax purposes as traders. He told the Legislative Council such arbitrary limits would lead to the
      Reuter  -  295 words
    • Article
      Lock icon Furukawa Electric plans Eurobond
      153 5 Reuter FURUKAWA Electric of Japan plans a 35 million mark convertible Eurobond. possibly with a five per cent coupon and sevenyear maturity, bond market sources In Frankfurt said. The bond is provisionally programmed for next week and terms have not yet been finally settled. Lead manager
      Reuter  -  153 words
    • Article
      Lock icon Coal pact extended
      128 5 Reuter COAL and Allied Industries has reached agreement with ÜBE Industries of Japan, to extend its seven-year steaming coal export contract for a further 20 years and to supply ÜBE with substantially increased tonnages. CAI has held the sevenyear contract since April 1974 and the present tonnage
      Reuter  -  128 words
    • Article
      DISCOUNT
      41 5 KONISHORUKU Photo Industry Co said its European Issue of 12 million shares in the form of European depositary receipts was priced at US$ 1.989 representing a discount of about 4.5 per cent on Tuesday's Tokyo closing price of 513 yen.
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    • Article
      Lock icon CSR raises stake in AAR to 51.67 pc
      320 5 Reuter CSR said In Sydney that it has raised Its stake In AAR to 13.36 million AAR shares or 51.67 per cent of AAR's 25.85 million SI par share Issued capital at Nov 8. CSR, which has been buying AAR shares on
      Reuter  -  320 words
    • Article
      Lock icon Change not likely at Standard Brands
      152 5 Reuter STANDARD Brands Inc's earnings for 1977 will probably not be materially different from last year's U552.42 a share, chairman F. Ross Johnson told analysts. Mr. Johnson said earnings In the third quarter showed a positive comparison with last year following lower earnings in
      Reuter  -  152 words
    • Article
      Lock icon Eaton goes ahead
      112 5 Reuter EATON Corp said It Intends to begin Its offer to acquire all outstanding shares of Carborundum Co for US$47 a share In cash. The offer will begin as soon as practicable, after compliance with all applicable state regulatory requirements. The filing of necessary documents with the
      Reuter  -  112 words
    • Article
      Lock icon Thailand grants mining contract
      94 5 Reuter THAILAND'S state-owned Offshore Mining Organisation has contracted a local company, Sethasup Karn Rae, to mine tin in Pang-Nga province, southern Thailand for five years, organisation sources said. Sethasup Karn Rae will use two bucket dredgers, each having a capacity of 270 tonnes of tin concentrate
      Reuter  -  94 words
    • Article
      Lock icon Mitsubishi order
      73 5 Reuter MITSUBISHI Electric Corp said it won with Commonwealth Engineering Pty of Australia a 25 billion yen contract to build locomotives and coaches for New South Wales' Public Transport Commission. The order comprised 30 dlesel locomotives. 10 electric locomotives and 150 electric train cars. Mitsubishi said It would
      Reuter  -  73 words
    • Article
      Car plant delay
      91 5 NEW South Wales state premier Neville Wran said Ford Motor Co of Australia has delayed indefinitely plans to build an AsB2 million car assembly plant at Ingleburn, south-west of Sydney. He said the delay in constructing the plant was due to a fall of in demand for
      91 words
    • Article
      MIM cut
      29 5 MOUNT Isa Mines of Australia has cut its price for copper, equivalent wlrebar basis CIF main Australian ports, to Af1,060 Gr tonne from SI,OBO, ef:tlve from Tuesday.
      29 words
    • Article
      Lock icon CNA boost for Loews
      114 5 Reuter LOEWS Corp said 1977 third quarter operating results reflect increased operating earnings of CNA Financial Corp and a decrease in operating earnings In the aggregate of the other Loews divisions. Loews said the decrease was primarily a result of the sale at the end of
      Reuter  -  114 words
    • Article
      Lock icon Texaco stake in Tartan
      111 5 Reuter TEXACO Inc said Its Investment in the commercial development of the Tartan field in the British North Sea could exceed £250 million. The company said production modules will be designed to handle 75,000 barrels of crude oil plus 12,000 barrels of natural gas liquids per
      Reuter  -  111 words
    • Article
      GM recall
      59 5 GENERAL Motors Corp said it will recall 4,900 fullsize 1978 Chevrolet, Bulck, Oldsmoblle, Pontiac and Cadillac cars for inspection of rear wheel mounting bolts. GM said bolts may have been improperly heat treated and could break causing the wheel to come off. It added that most of the
      59 words
    • Article
      Lock icon Strong demand for EOE membership
      426 5 EUROPEAN COMPANIES Reuter THE European Options Exchange (EOE) council has received about 310 membership applications and many more potential members are waiting for Its articles of association to be published. About half of the applications are for public order member seats, more than 20 for
      Reuter  -  426 words
    • Article
      Lock icon SWISS BANK PLANS RIGHTS ISSUE
      225 5 Reuter SWISS Bank Corp said it plans to make a rights ls3ue in a ratio of one for 10 at a price of 160 per cent from Jan 23 to Feb 1 subject to shareholder and Federal Issuing Commission approval. The issue, which is to
      Reuter  -  225 words
    • Article
      Lock icon Final loss figure for Helaba
      184 5 Reuter HESSISCHE Landesbank Glrozentrale said its final figure for its loss from write-off needs on property Investments made in *****5, is 1.4 billion marks. Managing board member responsible for the bank's property activities, Herbert Kazmlerzak told a press conference in Frankfurt on Wednesday that this
      Reuter  -  184 words
    • Article
      Lock icon EMI sees stagnant sales in medical electronics
      179 5 Reuter EMI chairman John Read said world medical electronics business is unlikely to be higher in volume In the current year than In the year ended June 30, 1977 because of the market decline In North America. He said in the annual report
      Reuter  -  179 words
    • Article
      BSC gets loan
      82 5 THE European Investment Bank said it granted a £52.7 million loan to British Steel Corp for a major expansion scheme at a Scottish steel plant. The loan for 12 years at a rate of 8.75 per cent will help to finance various works forming part of a
      82 words
    • Article
      Ford project
      25 5 FORD Motor Co of the UK said it will spend £4.46 million on expanding the body and assembly toolroom at its Dagenham plant.
      25 words
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      153 5 Wherever you are therefc an OUB Brandt nearby. We have 25 branches spread over Singapore, all conveniently located. So, perhaps we could be forgiven if we were tempted to rest on our laurels. However, that's not the way we operate at Overseas Union Bank. As Singapore progresses, the need for
      153 words
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  • Article
    SHARE INFORMATION SERVICE
    2334 6 Gr'f Or'* Net 1*77 Coaiuy Last div Dtv y'U P/E Vol Dav High Low Sale +«r- e'rr (••00) Hi*h Low 8ECTION ONE INDUSTRIALS 154 134 Ac ma 135 12.0N 1.8 8.8 6.3 204 165 Alcom 165 10.0 0.5 6.0 26.6 116 58 Allied Choc 102 unch 20.4
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  • Article
    Lock icon Accounting methods at Bethlehem Steel arouse interest
    859 6 NYT NEW YORK: The record third-quarter loss recently reported by Bethlehem Steel Corporation Includes a US$75O million pre-tax write-off for plant shutdowns that raises some Interesting accounting issues. The issues revolve around the way In which the company reported the estimated future pension
    NYT  -  859 words
  • Article
    Lock icon That dividend cut makes them shiver
    708 6 NYT NEW YORK: When Phelps Dodge Corp, the second largest domestic copper producer after Kennecott Copper Corp, cut Its dividend last week, a shiver ran through the financial community. Investors In Income stocks presumably trembled as well. The old payout of 55 cents a
    NYT  -  708 words
  • Article
    Progress report from Woodside
    83 6 MELBOURNE, Thurs. Woodside Petroleum said Caswell No. One well In permit WA-34-P on the North West Shelf Is at a depth of 3,607 metres, after encountering strong indications of hydrocarbons between 3,605 and 3,607 metres. The well is currently conditioning the mud prior to carrying out
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  • Article
    Aid to continue
    168 6 CANBERRA, Thurs. The federal government has accepted the industries Assistance Commission's interim report recommendation that short term assistance to Mt Lyell Mining and Railway's Tasmanlan copper mine be continued. National Resources Minister Doug Anthony and Business and Consumer Affairs Minister Wal Fife said in a Joint statement
    168 words
  • Article
    Lock icon Sharp price hike
    82 6 Reuter OSAKA, Thurs. Sharp Corp plans to raise export prices of electric appliances to the US and other dollardenominated markets by four per cent from December shipment to cover the yen's appreciation. Its president, Mr. Aklra Saeki, told a press conference Sharp has raised prices by 12
    Reuter  -  82 words
  • Page 6 Advertisements
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      176 6 Confront Singapore's decision makers in Business Times 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 For only $3.50 per single column centimetre
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      313 7 HONOKONO: Share prices closed slightly easier in fairly dull and featureless trading, dealers said. The Hang Seng index closed lower at 429.94. Jar dine Matheson fell 30 to 13.30, HaafkMf Laad five cents to 7.05 and Hutchison 2.50 cents to 3.075, while Swire Pacific rose "ve cents to 6.25
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    • Article
      Tokyo
      462 7 TOKYO: Share prices fell on sporadic selling In blue chips and in the absence of market factors, dealers said. The Dow Jones lost 33.44 to close at 4.941.21 on volume of 180 million shares. The new Index closed at 369.62. down 1.88. Sony, which dropped 40 to 1910, led
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    • Article
      Sydney
      416 7 SYDNEY: Banks generally firmed while mines were mixed, dealers said. The Sydney All-Ordlnarles Index fell 0.34 point to 445.29. BHP fell six to $5.54 after Its rise on Wednesday while Woodaide Petroleum gained a further three to 87 cents. Bank of NSW rose six to 5.36, while ANZ rose
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    • Article
      Manila
      135 7 MANILA: The market recovered slightly to close mixed, with commercials and oil sectors posting slight gains, dealers said. Turnover rose to 6.4 million pesos from 5.4 million on Wednesday. Mining Issues were steady. In commercials, San Miguel gained one point while others were unchanged. NOV 10 Pesos Acoje Mining
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    • Article
      Bangkok
      130 7 NOV M Bahts Asia Fibre 286 -18 Bangkok Bank 419 Bangkok Invest. 374 -16 Bangkok Metropolitan Bank Bate 796 -20 Beril Jucker 620 -10 CharoongThai Wire 340 Dumex DusltThanl 369 -9 Faber Merlin First Trust 360 368 -14 Oenera Finance -18 Indo-Thal Industrial Finance Corp J and JHo 2399
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    • Article
      Amsterdam
      315 7 AMSTERDAM: The market fell over a broad front on Wednesday with losses among Dutch Internationals ranging between 0.10 guilders for Philips and Unilever and 0.40 guilders for Hoof ovens, dealers said. Isolated exceptions were fcsis which rose one guilder and Dels and Ocegrinten, both 0.50 higher. Sharp falls were
      315 words
    • Article
      Brussels
      149 7 BRUSSELS: Most Belgian shares closed lower In quiet trading on Wednesday, market sources said. FN, UCB and Arbed rose while Sofina, Sidro, Aaturieone, Cockerill, Clabeco. Finoutremer and CBR all fell. In foreign stocks. UK and Canadians were mixed, Germans and Dutch unchanged, US fell and French rose. Gold mines
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    • Article
      Frankfurt
      274 7 FRANKFURT: Shares closed mixed to firmer on Wednesday mainly on technical reasons since recent proflttaklng and posi tion -covering appears to be ebbing, bourse sources said. Hi bum, which proposes an unchanged eight-mark dividend, rose 3.30 marks but Baysrmhjrpo, which announced a planned 60 million mark capital rise, eased
      274 words
    • Article
      Milan
      138 7 MILAN: Stocks closed slightly higher in moderatety active trading on Wednesday, bourse sources said. Generate Immobiliare recovered slightly. Most leading industrials also gained, but Fiat was down one lira to 1960. Financials, banks and Insurances were all steady. Bonds were fairly steady. NOV M Lire Ante 100 2 Assoc
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    • Article
      Paris
      375 7 PARIS: Shares were generally higher in thin trading in reaction to Tuesday's weakness and as a result of the lower call money rate, down v* point, bourse sources said. In higher oils, ELF Aquitaine, which announced Increased net turnover of oil Interests in the first nine months of 1977,
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    • Article
      Zurich
      130 7 ZURICH: The market closed generally lower on proflttaklng In fairly active dealings, following the renewed Middle-East tension, dealers said. Swissair bearer came under increased selling pressure In transports In somewhat lower leading banks,Baakverein held steady on its planned capital increase. In financials, Juvena bearer lost some 20 per cent
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    • Article
      Jo'burg
      404 7 JOHANNESBURG: Gold shares on Wednesday were higher on the strength of the bullion price, dealers said. Most interest was local though some overseas demand was N seen Gains ranged from five to 20 cents In marginals and speculatlves and to 150 cents In heavyweights. Trading was sporadic. Financial minings
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    • Article
      Toronto
      299 7 TORONTO: The market closed higher in active trading The Composite index was up four points and gains led losses 252 to 159. The Transportation index, up more than 32 points, recorded Its largest advance this year. Among companies reporting £'g he r ..".""Hi, giant y Mine* ten added while
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    • Article
      New York
      1106 7 NEW YORK: The stock market, changing directions several times, struggled to a higher finish in active trading on Wednesday Analysts said investors were hard-pressed to find anything new in congressional testimony by Federal Reserve Board chairman Arthur Burns on Wednesday or President Carter's energy address on Tuesday. The
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    • Article
      Indices
      70 7 FINANCIAL TIMES INDUSTRIALS Wednesday 482 3 Tuesday 492 2 Week Ago 486 0 DOW JONES AVERAGE INDUSTRIALS Wednesday 818 43 Tuesday 816.27 Week Ago 800.85 LONDON DOLLAR PREMIUM Wednesday 94 7 4 to 95S Tuesday 94'4 to 94 H.K. HANG SENG Wednesday 432.43 Tuesday 433 93 Week Ago 432
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  • Article
    CHICAGO BOARD OPTIONS
    1230 7 On Nov 9 TRADING in options on the Chicago Board Options Exchange came to 88,943 contracts compared with 02,578 contracts on Tuesday. option l IAN API /LT rrc* AMO* 40 aiena «l Alow M Alow at UiTd B ABTII ao Am Tel fi An Tat IV MR
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      494 7 for complete banking services, call: Ban*** National* D* Pari* Own* Unian Sh»ppin, Cmm CaOyar Qvay Bonk al Amarica CMM Cantra 24 Raffia* Pteca Am Cawmanial Banking Carpn LM 104/104 Itahintan Raa4 1r"J122t.222) Au*n-P*ir+ik-B*nk AC Bank*r» TflMt Ca 304/300 Ocaan BaiMin, (Trf: *10.211) ■arctM lank Intarnatianal Lt4 21.t Fl««i, CKffat4 Cantra
      494 words
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  • COMMODITIES REPORTS AND PRICES
    • Article
      FOREIGN RUBBER MARTS
      281 8 LONDON, Thurs. Terminal rubber values at endmorning ranged 0.15 pence per kilo up to 0.25 pence down. The official tone was "quiet." Activity was very slow, reflecting the holiday In Singapore. Futures had opened higher as sterling slipped, but then moved down when sterling firmed. Volume totalled
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    • Article
      Tin
      209 8 LONDON, Thurs. Tin on the morning eased £25 for cash and £10 for Three Months standard while high grade declined £50 all round. Dealers said the market lacked direction initially due to the holiday at Penang. In first ring trading, however, Three Months standard edged up to £6,820 on
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    • Article
      Produce exchange
      208 8 IN LONDON on Wednesday, the following pepper prices were quoted (sterling per long ton cif European ports delivered weight unless otherwise stated). Sarawak White: Spot 1.900 sir. Afloat (US dollars per tonne) 3.150 sir. Nov/Dec (US dollars per tonne) sir Sarawak Black Special: Spot 1.550 nominal seller. Afloat
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    • Article
      Palm Oil
      67 8 C.I F Rotterdam. US dollars per ton. LONDON: WcdnewUy Previou* Malaysia 5% ffa bulk Jan Sumatra 5% ffa Nov Dec 420 sir unch 435 sir 425 sir 455 sir 442.50 sir Jan Feb March Nigeria b% ffa bulk Sumatra Nov Zaire (Belg francs per kilo) 430 sir 427
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    • Article
      Copper
      322 8 LONDON, Thurs. Copper wirebars finished the morning with all-round losses of £3.00. Dealers said values worked higher on the premarket with up to £074 paid for Three Months on protective shortcoverlng against Wednesday's report suggesting possible Japanese purchases of copper. However, In the ring, there was a sharp downturn
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    • Article
      Silver
      250 8 LONDON, Thurs. Silver declined 2.0 pence for cash and 1.9 pence for Three Months. The easier trend in gold and currency factors prompted modest profittaking and general liquidation which gathered momentum later In sympathy with the decline In copper. Three Months started In pre-market at 277.5 pence, but closed
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    • Article
      Lead
      118 8 LONDON, Thurs. Lead was £0.50 higher for cash and unchanged for Three Months at the end of the morning ring. Dealers said the market fluctuated fairly narrowly with Three Months trading up to £353 per tonne In the pre-market before sentiment was dampened in the ring by heavy selling
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    • Article
      Zinc
      112 8 LONDON, Thurs. Zinc ended the morning ring £4 down for cash and £4.50 lower for Three Months. The market was overshadowed by heavy offerings of copper during ring dealings, and Three Months, after trading at £294 in the pre-market, eased to £287 per tonne at the end of the
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    • Article
      Gold
      277 8 RETAIL prices per tael quoted by the Singapore Chinese Gold and Silver Merchants Association are $500 for 90 per cent gold, $530 for 22k gold and $560 for 24k gold. The Singapore gold market was closed yesterday. In HONGKONG yesterday, gold closed HK6O cents higher at UK5930.00 per tael,
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    • Article
      Cocoa
      302 8 LONDON, Thurs. Cocoa futures rose mostly £14.50 near Dec at £2,487 bid to £2 per tonne at the first call and then gained further ground In open trading largely In line with New York steadiness, dealers said. They said tightness of nearby physical supplies and lateness of West African
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    • Article
      Sugar
      277 8 LONDON, Thurs. Sugar futures finished the first call around Wednesday night's steadier kerb levels, and with gains from Wednesday afternoon of £2 to £1.45 per tonne. Activity was thin, reflecting lack of fresh Incentive, dealers said. They said the improved tone overnight reflected New York steadiness. The London dally
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    • Article
      Coffee
      263 8 LONDON, Thurs. Coffee opened £25 to £37 higher on volume of 370 lots. The official tone was "steady." Futures moved up following the advance in New York. Trade houses were on both sides of the market, but ended as net buyers. Coffee prices at mid-day ranged £35 to £50
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    • Article
      Hongkong comex
      326 8 HONGKONG, Thurs. Cotton futures closed easier in moderately active trading, still depressed by the recent sale of Pakistan cotton on the local physical market below the market prices at U547.00 cents per March and July were traded at new lows for the fourth consecutive day of 47.01 and
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    • Article
      Rice
      164 8 BANGKOK, Thurs. Indicative prices for rice* quoted today: (OB dollars per tonne fob basis jgfeiii I* l 318.100 m. a-I apci 188. C-1 Spcl unq. C-l Ord unq. Laeaaate (brown): 180 pet Ist grade unq, 100 pet 2nd 2M, 100 pet SrtwJT 5 pet 338, 10 pet 280 Mate:
      164 words
    • Article
      Lock icon Copper output may outstrip its demand
      411 8 Reuter NEW YORK, Thurs. World refined copper output could exceed consumption by 400,000 short tons next year If planned increases in Erod uctlon materialise, [lies Metal Co. vice president Dr. Joseph Zimmerman said. In a speech prepared for delivery at the meeting of the
      Reuter  -  411 words
    • Article
      Wheat
      160 8 CHICAGO, Thurs. Wheat futures yesterday closed with fractional gains at the end of an uncertain trade. The market fluctuated narrowly above Wednesday's close, affected by trends in other pits. Commercial buying aided early firmness but speculative buying Interest diminished with exporter selling. Export activity and cash market firmness continued
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    • Article
      Soybeans
      154 8 CHICAGO, Thurs. Soybean futures closed US 5*4 to one cent a bushel higher yesterday, but well off the early gains of as much as 15 cents a bushel. Local short-covering sent the market upwards and speculative buying fueled the advance until buying interest waned and liquidation took prices downwards.
      154 words
    • Article
      Lock icon Look into costs of production before setting tin price: Lew
      434 8 Reuter KUALA LUMPUR, Thurs. A two-day technical meeting of tin producers which opened here on Tuesday, could perhaps find a new approach to the ques- tlon of determining the price range of tin, Malaysia's Deputy Primary Industries Minister Lew Sip
      Reuter  -  434 words
    • MONEY AND EXCHANGES
      • Article
        London
        303 8 LONDON. Thurs. The dollar eased from Initial levels against the mark and the Swiss franc on mild profit-taking In moderate early trading, dealers said. The US currency had risen late yesterday after US Federal Reserve Board chairman Arthur Burns said the Fed will continue Its efforts to maintain a
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      • Article
        New York
        269 8 NEW YORK, Thurs. The dollar closed with gains against fnost major currencies In moderately active trading yesterday after statements by Federal Reserve chairman Arthur Burns to a Senate Committee, dealers said. Mr. Burns said depreciation of the dollar to gain trade advantages would be unwise and the Fed
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      • Article
        Euro $ rates
        90 8 Euro rates LONDON, Thurs. Eurodollar deposits were quietly steady ahead of the US Veterans Day holiday tomorrow, dealers said. The Armistice Day holiday on the continent also helped to subdue activity. Day-to-day rates also showed little change with the market lacking interest. opening quote* on No* US dollar? Umg weekend
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      • Article
        Minimum lending rates
        49 8 ACBC 7 Firtt fkiMM ai. 1 AlfMMM Bank Citibank 7 1 Btik HSRT 7 1 Baak ot America 7 BaakofCkiaa BaakofToky* 7 Malayan Banking Mitsui Bank 7 7 f. ii ■Ti 7 OCBC OUB S 7 CkartwWBMk UCB 7 Ckut MtihiiUi DBS UMBC UOB 7 7
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      • Article
        Tokyo
        112 8 TOKYO, Thurs. The dollar for overnight delivery closed higher at 247.35 yen, compared with a 247.30 opening and 246.90 at yesterday's close. No central bank intervention was detected, dealers said. Combined spot trading volume was US$24O million. After opening higher in line with its firmness overseas and on high
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      • Article
        Hongkong
        143 8 HONGKONG, Thurs. The US dollar turned slightly easier towards the close after holding basically steady throughout the day, dealers said. Trading was slow due to Singapore's holiday today and tomorrow's bank closure In New York. Federal Reserve Board chairman Arthur Burns remarks that he is opposed to depreciation of
        143 words
      • Article
        Australia/NZ
        56 8 AUSTRALIA/ NZ exchanges quoted on Nov 10 AUSTRALIA: US dollar 1.1281/ 1.1213 Sterling 0.8283/ 0 8207 Ninety-day air mall buying rates Sterling 0.6421 U8 dollar* 1.1557 Ninety-day forward buying rates Sterling 0 6213 US dollan 1.1192 NEW ZEALAND: Sterling 0.5487/ 0.5457 U8 dollar 0 9951/ 0.9651 Ntnety-day forward rates:
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      • Article
        Zurich
        49 8 ZURICH exchanges closing quotes on Nov 9 US 2.2172-2187 UK 4 0307-0337 Can 1.9888-9884 W Germ 98 23-30 Neth 90.93-91.00 Prance 49 48-50 Belg 8 2473-2549 Denm 38.28-31 Norw 40 42-44 Swed 48 18-21 Italy 0 2520-2522 Austria 13 79-81 Port 5.4415-4487 Spain 2.8041-8887 Arf 0.42-52 Japan 0.8870-8879
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      • Article
        Frankfurt
        35 8 FRANKFURT exchanges >penlng quotes on Nov 10 US 2.2823/33 Can 2 0380/0400 UK 4.074/082 Neth 92 55/85 SwlU 101.84/74 Italy 2.570/578 Prance 48.35/45 Norw 41.10/20 Belc com 8 388/378 Belf fin 8.35/38 Japan 0.9145/55
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      • Article
        Treasury bills tender
        37 8 THE Monetary Authority of Singapore Invites banks and discount houses to tender for 920 million 91-day Treasury bills to be issued from Nov 14 to 18. Each tender must not be less than $250,000.
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      • Article
        Eurobonds
        358 8 LONDON, Thurs. Trading in Eurobonds was moderate this morning, dealers said. Straight US issues showed occasional mixed movements with the Norsk Hydro US$5O million 7% per cent 1982 notes, priced at 99Vi per cent, quoted around 98 98Vi In first time trading. Prime name mark Eurobonds firmed slightly in
        358 words
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      157 8 V Don t let the language barrier stop you from wider contacts ««e \V tr* ro t® lO wo u *y* e tV* e XVA 3° P°*f« •«f< \e^ <• ".x YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travelling in fact anywhere and any time that
      157 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Dock strike effects will soon be felt
      779 9 NYT. WASHINGTON, Thurs. The effect of the monthlong selective strike by longshoremen against Atlantic and Gulf Coast ports could become apparent as the Christmas season approaches, a report by a respected group or economic consultants suggests. The Washington-based Data Resources Inc. forecasts a
      NYT.  -  779 words
    • Article
      Lock icon Pan-Am budget fares to South Pacific
      152 9 Reuter NEW YORK, Thurs. Pan American World Airways said yesterday it would introduce full-service advance registration budget fares to the South Pacific on Feb 5, subject to Civil Aeronautics Board and foreign government approvals. Pan-Am said the fares will be offered from Los Angeles,
      Reuter  -  152 words
    • Article
      Tolls are no problem
      70 9 OTTAWA, Thurs. Transport Minister Otto Lang says he does not expect proposed increases In toll charges on the St. Lawrence seaway to reduce traffic through the much-travelled waterway. The Canadian government wants to double its Income from the seaway next year by sharply raising tolls on
      70 words
    • Article
      Lock icon Tanker mart will get worse if conditions persist
      457 9 Reuter LONDON, Thurs. Supply and demand on the tanker market are not expected to show anything like equilibrium until the mld-1980's except for smaller sized vessels. International Maritime Industry Forum (IMIF) chairman, Sir James Dunnett said. He said that the tanker market
      Reuter  -  457 words
    • Article
      Lock icon Surplus of gloom
      203 9 Reuter GLASGOW, Thurs. President of the General Council of Shipping Peter Walters said 1977 would he a poor year for new ship orders in most countries while next year would probably be worse. He told the annual meeting of the Glasgow Shipowners' and Shipbrokers' Benevolent Association he
      Reuter  -  203 words
    • Article, Illustration
      IN PORT
      235 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Shinyo Maru (JQVE). (0600 8/9 Yue River (1100 after Car Liner No. 2) 31/32 PASIR PANJANG WHARVES Deepa Molek (0700 after Kota Panjang) (1119-1186) Gdns 301 CB6A Dellma 109 0700 after Kota Panjang) (1224-1283) Gdns. 301 CB 8B Kim Soon LI (0700) (1293-1340)
      235 words
    • Article
      Lock icon Merchant marine takes meagre share of charges
      220 9 Reuter BANGKOK, Thurs. Thailand's merchant marine accounted for only 1.48 per cent of the country's total expenditure on sea freight charges last year, merchant marine committee chairman Chit Sangkadul said. He told a press conference Thailand's total freight bill last year was US$l.l2
      Reuter  -  220 words
    • Article
      London freight market
      145 9 LONDON, Thurs. Chartering became considerably more brisk on both North American grain trades and the time-charter section yesterday. However, rates showed very little change in established patterns, apart from a US 5-cent drop in payments to large bulk carriers on the US Oulf-Holland trade when the 70,000-ton
      145 words
    • Article
      Refloating attempt
      113 9 BREMEN, Thurs. The Schulte and Bruns KO Shipyard confirmed that it has opened talks with Saudi Arabian Interests with a view to refloating its finances. A spokesman of the com6 any said conversations egan In Zurich yesterday with the Amman based National Saudi Shipping Line, whose manager was
      113 words
    • Article
      Lock icon Japan's largest shipbuilders in the black
      175 9 UPI TOKYO, Thurs. Japan's six largest shipbuilding firms all earned profits for the six-month operating period ending Sept. 30 according to semi-annual reports released yesterday. Pour firms registered profit declines, while two others improved their performance, compared to the April 1-Sept. 30 period of
      UPI  -  175 words
    • Article
      Lock icon Japan pressed for more action
      161 9 Reuter TOKYO, Thurs. EuroGin shipbuilding nations ve asked Japan for further action to reduce Its share of the depressed world shipbuilding market, It was announced here yesterday. Mr. Albert Oruebel, chairman of a two-day Organisation for Economic Cooperation and Development (OECD) meeting here on shipbuilding
      Reuter  -  161 words
    • Article
      Lock icon Largest ship order since oil crisis
      172 9 Reuter TOKYO, Thurs. A Japanese shipyard said yesterday it had won from Sweden the largest single cash shipbuilding order in the world since the 1973 oil crisis. Mitsui Engineering and Shipbuilding Co said the 40 billion yen (SS3BB million) order for nine rollon roll-off
      Reuter  -  172 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      592 9 ARRIVALS 3€TVlOf Operator Nuba KAL KE807 LjOCM Tim 0015 II From 8EL CAL WAS CI331 MH682 0040 0610 TPE/HKO/KUL KCH OIA OA06O BA BA844 SIA SQ209 OIA OA944 OIA QA908 PAL PRSOl RBA BI325 OIA GA982 SIA SQ240 KLM KL833 SIA SQ201 THAI TQ413 MAS MH684 OIA
      592 words
    • Article
      OAA TO MEET IN SYDNEY
      144 9 CHAIRMEN and chief executives of 12 international airlines based in Asia and the South-west Pacific will meet in Sydney this month to discuss a wide range of Issues affecting commercial aviation in the region. The meeting is the 21st Assembly of Presidents of the Orient
      144 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      429 9 THESE ARE THE BOOKS THAT HITLER BURNED Vi siti ss *~k r I j H '1 V; .1 t>l l(|i|a H S Jf at J* s a_ z i 5; W W 9 S I• if I i 1. THE GREAT BOOKS OF WESTERN CIVILIZATION L SK -**-FF k I
      429 words
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  • Article, Illustration
    Search is on for tin off Kedah's coast
    780 10 KUALA LUMPUR. Thurs. A final analysis is being undertaken by a team of researchers from the School of Physics, Universiti Sains Malaysia, on the possibility of tin deposits off-shore Kedah Whiie the final data results may not yield a firm conclusion on
    780 words
  • Article, Illustration
    Musa will argue KL's common fund case
    2016 10  -  By CHARLES CHAN DATUK Musa Hltam. Minister of Primary Industries, will leave on Sunday for Geneva to lead Malaysia \in negotiations which opened early this week on the setting up of the common fund to finance the Unctad Integrated Programme for Commodities. Generally
    2,016 words
  • Article
    Lock icon Rome hits out at the 'ugly German'
    717 10 Reuter ROME. Thurs. A preoccupied West German tourist begged a parking garage owner in central Rome this week to shelter his new six-cylinder, copper-coloured BMW. "I'll pay you what you want. Just let me put it in your garage for a few days."
    Reuter  -  717 words
  • Article, Illustration
    Lock icon PORTUGUESE SEEK A FATHER-FIGURE
    996 10  -  The heady, aggressive years when Portuguese workers purged or persecuted owners in a fever of revenge for the oppressive years of the Salazar regime, have gone, leaving ineffective politicians struggling in an economic morass. Many Portuguese would welcome the return of a stern but efficient fatherfigure.
    FT; UPI photo  -  996 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      159 10 GAMBLERS HANDBOOK flors# J5 $9° rtS OiP fi* fas' n 1# if 7* <r rticn *0? ap P3^ F? M W i', by E. Lenox Figgis F.C.A. A practical handbook explaining how betting take* place on the world's most popular betting pastimes, including horses, dogs, football pools, sporting events, casino
      159 words
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  • Article
    Lock icon Difficult to cut Japan's huge forex reserves
    460 11 UPI TOKYO, Thurs. Prime Minister Takeo Fukuda has admitted that Japan is having a hard time getting rid of Its huge foreign exchange reserve holding which has become one of the reasons for the yen's rapid rise in value against the U8 dollar.
    UPI  -  460 words
  • Article
    Lock icon Yen rise hard to resist
    97 11 Reuter TOKYO. Thurs. Bank of Japan Governor Tellchiro Morinaga said the yen's appreciation against the US dollar has been hard to resist due to Japan's large current account surplus. Mr. Morinaga said in answer to a parliamentary in Tokyo that Japan had Intervened on a
    Reuter  -  97 words
  • Article
    Lock icon HK refutes charges on taxing policies
    354 11 AFP HONGKONG, Thurs. The Financial Secretary Philip Haddon-Cave yesterday rejected criticisms that the government's policy on taxing "habitual traders" was damaging the stock market. He was speaking at the annual policy debate which resumed in the Legislative Council yesterday afternoon. Mr. Haddon-Cave also refuted
    AFP  -  354 words
  • Article
    ITB and motor industry will work together
    264 11 THE Industrial Training Board (ITB) and representatives of the road Industry agree at a recently concluded discussion on future Joint efforts in areas of common interest. This followed a series of visits by the 15 member ITB group led by its chairman Dr.
    264 words
  • Article
    Lock icon More firms bankrupt in Japan
    89 11 AFP TOKYO, Thurs. A total of 1,597 firms went bankrupt in Japan in October, leaving combined liabilities of 223,100 million yen (Ss2 billion). The Teikoku Koshinsho Agency, a private research agency, said it was an Increase of 7.3 per cent from a year earlier in
    AFP  -  89 words
  • Article
    Lock icon China aims to become leading industrial nation by 2000
    1203 11 Reuter WEST BERLIN, Thurs. China Is working on i comprehensive reforms aimed at transforming it into one of the world's leading industrial countries by the year 2000. The German Institute for Economic Research also said in its latest weekly report Chinese
    Reuter  -  1,203 words
  • Article
    Lock icon Aussie payments in surplus
    456 11 Reuter CANBERRA, Thurs. Australia had a balance of payments surplus of As 63 million (Ssl7o million) in October compared with deficits of $46 million in September and $328 million in October last year, Statistics Bureau figures show. Government capital account produced a $184 million surplus (surplus
    Reuter  -  456 words
  • Article
    Lock icon Inflation at issue
    134 11 AFP CANBERRA, Thurs. Australia's inflation rate of 13.1 per cent annually, as reported by the Organisation for Economic Cooperation and Development (OECD), has become a central issue of the Australian federal elecUon. Former Labour Treasurer Bill Hayden complained in Parliament last week that Australian Government pressure was
    AFP  -  134 words
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    Advanced banking course for three bank officers
    344 11 THREE Siagnpere bank hnve go a* to Maaila to attend the lint advanced bank management course at the Allan Institute of Management (AIM). The seven-month programme, inelndlng field week, is sponsored by the Bankers' Association of the Philippines and supported by the Asenn
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    Lock icon Divide workload of Asean projects
    159 11 AFP MANILA, Thurs. A leading Filipino banker has called on Asean governments to spread the ownership of Asean's large-scale regional projects, in a speech published today. Mr. David Syclp, president of Rlzal Commercial Banking Corp., proposed that the ownership be 30 per cent for the
    AFP  -  159 words
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    Lock icon HK decision paid off
    68 11 Reuter HONGKONG, Thurs. Hongkong's decision to get In first with its early January ready-to-wear festival has paid off already with 1,000 American buyers planning to attend, organisers said today. The festival, In which about 200 garment manufacturers show off their Sroducts, is scheduled for anuary 1978,
    Reuter  -  68 words
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    Lock icon Negotiator goes home
    375 11 Reuter BRUSSELS, Thurs. Hongkong director of trade and chief textile negotiator Lawrence Mills said he believes It necessary to return to Hongkong to personally report on the breakdown of bilateral negotiations with the EEC. The EEC Commission announced on Tuesday that bilateral negotiations between the Common Market
    Reuter  -  375 words
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    Vast market lies in West Asia
    877 11 ADVICE TO TRADERS SINGAPORE'S exports to West Asia have grown steadily from 3 per cent of our total world exports in 1974 to 4.8 per cent this year. But our exports, when expressed as a proporttlon of some West Asian countries' total Imports, are
    877 words
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    Lock icon KL to use Malta
    169 11 AFP KUALA LUMPUR, Thurs. Malaysia has agreed to use Malta as the centre for transhipment of Malaysian i exports to West Asla, v southern Europe and Mediterranean countries. Malaysia is prepared to study the possibility of entering into Joint venture with Malta on the setting up
    AFP  -  169 words
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    Fact-finding mission
    64 11 KUALA LUMPUR. Thurs. The Malay Chamber of Commerce and Industry (MCCI) will send a team on a fact-finding mission to look Into the proposed housing scheme In Saudi Arabia soon. The team will study the viability and evaluate the MJ2.B billion housing project In Mecca and Medina. The
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      482 11 THE B HOW TO SURVIVE THE SLUMP Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund it the most power- C ful supra-national government in the world today. J This book is about 1 the efforts of poor nations to p gain some control over their
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    Philippines firms are responding to govt's call
    265 12 PRIVATE enterprise In the Philippines are exporting labour and construction Mrvlces In response to the government's call for maktHk fuller use of the country's labour force, delegates to the Machine Asia seminar were told. A paper presented by the Private sector of the
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    Outlook brighter for investors in Thailand
    906 12  -  By RONNIE LIM THE THAI economy appears set to reach a 7 per cent growth rate this year, perhaps more next year. Prospects are certainly brighter for the foreign Investor In Thailand, said the Thai delegation to the Machine Asia exhibition seminar yesterday. The
    906 words
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    LONDON STOCKS
    751 12 LONDON, Thurs Stock prices rose in thin trading and at 3 pm the Financial Times Index was up 3.3 to 485.0. Market sources said prices picked up following news the coalmlners had agreed to further talks, postponing the likelihood of a confrontation with the government on their pay
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    Sales total $317,500 for Aussies
    110 12 AUSTRALIAN exhibitors at Machine Asia yesterday reported that after the first three and a half days, total sales of $317,500 had been concluded. During the same period Costraco-Festo, another exhibitor, had also sold out all the German-made Fes to woodworking machines which it had on
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    Property men ask for help
    948 12 A STRONO plea for Government help was what emerged most clearly from this week's two-day seminar on the Property Depression, organised by the University of Singapore's Building and Estate Management Society. Extensive coverage was given to the factors that have led to the current slump
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    Lock icon Meeting soon on ways to fund Indonesian urea plant
    331 12 Reuter MANILA. Thurs. The Asean Committee on Finance and Banking will hold its first meeting soon to discuss ways of funding Indonesia's urea plant, the first of the agreed Joint industrial projects. Philippines Secretary of Finance Cesar Virata told the Financial
    Reuter  -  331 words
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    Agency for Morley
    135 12 MORLEY it Co Pte Ltd has been appointed local agent for Imperial Van Lines International Inc. Imperial's president Carl Joyce and area VicePresident Tom Hinckley are now in Singapore to finalise details of the agency. Imperial Is a worldwide forwarding company providing door-to-door carrier service. This will
    135 words
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    S. Korea import plans
    117 12 SEOUL, Thurs. South Korea has done so well with its exports that It is planning emergency Imports worth US$2OO million (Ss4Bo million) in the next months to try to keep Its surging economy in balance. The import programme is the latest effort to prevent the country's
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    S'pore may soon be exporting stamps
    834 12  -  It PITER CHIA SINGAPORE may soon be printing postage stamps for foreign governments If the deal which the Crown Agents for Overseas Governments and Administrators Is negotiating goes through. The Crown Agents Representative for South-east Asia and the Pacific, Mr. Ivan Alexander, said this
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    Building gloom: way out
    383 12 SINGAPORE should become a property development brain centre for the region, urged Mr Lai Pang Fee, vice-president of the Singapore Institute of Surveyors, at the recently concluded Building and Estate Management Society Seminar. He sees this as the only way Singapore can escape from the existing
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    Lock icon BOTH SIDES NEED A RISE IN THE CURRENT OIL PRICE
    629 12 UPI AFP KUWAIT, Thurs. All Attaqa, secretary general of the Organisation of Arab Petroleum Exporting Countries (Oapec), yesterday said an increase In the crude oil price had "become a necessity for both producer and consumer countries." "An Increase Is needed
    UPI; AFP  -  629 words
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    Lock icon Saudis stick with the US dollar
    146 12 Reuter RIYADH, Thurs. Saudi Arabia Minister of Finance and National Economy Mohamed Aba A 1 Khali categorically denied news agency reports that Saudi Arabia may agree to sell Its oil In sterling as well as the US dollar, the Saudi Press Agency reported. The
    Reuter  -  146 words
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    Price hike needed
    74 12 TOKYO, Thurs. Indonesia believes a moderate increase In oil prices will be necessary because of worldwide inflation, Indonesian Mining Minister Mohammad Sadll said. Mr. Sadll said oil exporting countries would find it difficult to raise oil prices significantly next year when an over-supply of oil was anticipated.
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      29 12 leaving Singapore to retire in the USA Interested in handling assignments or representing Singapore trade interests Available for discussions in Singapore until December 20 Please write BT Box 5243
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      191 12 Why everyone wants to copy our copier, Until now, a good quality copy was a yet excellent tonal gradation. And with question of price. The only way to obtain a reproduction that won't fade, clear, sharp, deep black copy was to It could be cost-saving. Any expert invest in an
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