The Business Times, 11 August 1994

Total Pages: 48
1 48 The Business Times
  • 13 1 Business Times MITA(P) 010/12/93 Thursday August 11 1994 WE KNOW ASIA 75 c
    13 words
  • 2am LATEST
    • 49 1 Reuter NEW YORK Wall Street stocks were higher at midday yesterday. Federal Reserve chairman Alan Greenspan's testimony before a House government operations subcommittee had little efTcct on stocks or bonds. The Dow Jones Industrial Average was up 16.51 points at 3,772.27 at 2pm EDT. Rcuter
      Reuter  -  49 words
    • 32 1 Bloomberg Business News SAN JOSE Fujitsu Ltd said yesterday it bought worldwide rights to telecommunicationsbased interactive entertainment software from director George Lucas' company, Lucas Arts Entertainment Co.
      Bloomberg Business News  -  32 words
  • 161 1 Stock market indices Wednesday Change STII 2,276.50 +8.85 KLSEComp 1.092.80 +19.21 Nikkei 20.770.25 +180.03 Hang Seng 9.618.08 +171.65 SET Index 1.407.32 +0.99 Jakarta Comp 471.69 +1.77 CLSA China B ...1.139.08 16.20 Aust All Ord 2.076.5 -10.3 FTSE 100 3.167.0 -1.6 Wednesday Pre*ions 2pm close Dow Jones 3.772.27 3,755.76
    161 words
  • 553 1 Fed's primary goal is to ensure currency's stability Bloomberg Business News Reuter WASHINGTON Federal Reserve chairman Alan Greenspan said it is critical that the dollar remains "strong and viable" given its position as the reserve currency in the world. "It's crucially
    Bloomberg Business News; Reuter  -  553 words
  • 768 1  -  By Genevieve Cua SINGAPORE An exceptionally strong showing by the manufacturing and construction sectors propelled the Singapore economy to expand 9.3 per cent in the second quarter. Growth would have been even stronger but for a sharp slowdown in the finance sector. The
    768 words
  • 237 1 AFP TAIPEI Taiwan yesterday approved a NTSS.4 billion (Ss3o7 million) joint investment project with Singapore to launch a communications satellite, government officials said. "The Directorate General of Telecommunications (DGT) will cooperate with Singapore Telecom in launching the satellite, with both
    AFP  -  237 words
  • 277 1 AFP, Reuter GAZA CITY, Gaza Strip Gaza will become the Singapore of the Middle East despite its slow start, Yasser Arafat, chairman of the Palestine Liberation Organisation, said yesterday. Speaking at the opening of a Palestinian trade fair in Gaza City, Mr
    AFP,; Reuter  -  277 words
  • 287 1  -  By R Sivanithy SINGAPORE Regional stocks closed stronger yesterday, as investors temporarily put aside worries over higher US interest rates. In Singapore, interest was almost exclusively focused on Malaysian issues traded on Clob International. Early trading in local counters was subdued, and dealers said the higher
    Source: Bridge Info  -  287 words
  • 320 1  -  By S N Vasuki SINGAPORE The Government of Singapore Investment Corp (GIC) plans to open an office in Bombay next year to tap opportunities in India's booming stock market. Sources in Bombay, the country's business capital, told Business Times that the
    320 words
  • Page 1 Advertisements
    • 107 1 CO-2233 fle'neviw CO Tuner with OSP Sound Proctssor 10 CJiangef Coni Oder Fujrrsu TEN AMATEUR PHOTO STORES PTE LTD. Singapore: Phone; *****33 Kuala Lumpur: Phone; 757 0233 Ptnaiif: Phone; 615 985/619 014 Jakarta: Phone; *****9/*****8 News Cowp—i«« S*pok News 2.3 S'pwtWsa 17.18 Repml News _4,5,6 Francai 22.23 WwVt News 7.8
      107 words
    • 18 1 Innovation: Pg 10 Software with a sharp eye How the sectors performed Business expectations Full reports, Pg 2
      18 words
    • 5 1 Hock Lock Siew: Sembawang's new
      5 words
    • 184 1 l&htomdLine: Pg 16 Whiwyjhter: Shades of Watergate CORPORATE RESULTS Goldtron interim up 13pc MPHB earnings up 48pc Pg 17 EXCEPTIONAL VALUE FOR MODERN CLASSICS. IT'S MUCH MORE AFFORDABLE THAN YOU THINK. WE SALUTE THE 20TH CENTURY MASTERS. All items fully imported from Italy. We guarantee our quality specifications equal or
      184 words
    • 39 1 Atiizina, TOZ/R BIG AN EMBODIMENT OF PERFECTION FROM HEAD TO TOE More Control Oecrtor FWw Extra Distanc* Available at GOLF HOUSE*and olher leocfing gotf shops HApdwmttar ROYAL SPOffTMG HOUSt PTEUD IMMtcPlwnonßoad IMmGiMS«9MIM »'W MM&SSFm MVZTi Full reports, Pgs 24-28
      39 words

  • 2 QTR 94 ECONOMIC SURVEY OF SINGAPORE
    • 677 2  -  By Shiv Taneja THE financial and business services sector grew by 6.1 per cent in the second quarter, the slowest rate since the second quarter of 1992. Analysts have consequently revised the growth rate for the year to between 8 and 10
      677 words
    • 683 2  -  By Claire Leow NINE of the top 10 industries in the manufacturing sector posted positive growth, led by electronics with a 28.3 per cent gain. The sector as a whole grew by 13.8 per cent, and was the key force behind the country's
      683 words
    • 345 2 INDUSTRIALISTS and firms in the commerce and services sectors are optimistic about business prospects for the next six months, according to two surveys on business expectations released yesterday. A survey of 361 firms by the Economic Development Board showed that
      345 words
    • 405 2  -  By Abdul Hadhi THE construction industry continued to show healthy growth in the second quarter. It grew by 13 per cent, up from 11 per cent in the previous quarter and 8 per cent for the whole of 1993. Contracts awarded during the second
      405 words
    • IN BRIEF
      • 35 2 SINGAPORE'S overall balance of payment surplus fell to $1.2 billion, from $1.8 billion in the first quarter. The decline was due partly to a reduction in net monetary capital inflows.
        35 words
      • 80 2 THE Singapore dollar rose against the US dollar and the regional currencies during the second quarter, but fell against the Japanese yen and most European currencies. Reflecting the further weakness of the greenback, the Singapore currency appreciated by another 3 per cent against the
        80 words
      • 54 2 THE unemployment rate in June 1994 was 2.6 per cent, against 1.6 per cent in March and 2.7 per cent one year earlier. The June unemployment rate is usually higher because of larger number of job-seekers, such as graduates from tertiary institutions or students seeking part-time
        54 words
      • 67 2 DOMESTIC interest rates saw a sustained uptrend in the second quarter. The three-month domestic interbank rate rose to 3.88 per cent at the end of June, up from 3.47 per cent at end-March. As this was smaller than the increase in US interest rates, the three-month Sibor-domestic
        67 words
      • 41 2 TOTAL DEMAND for goods and services grew 19 per cent, higher than the 12 per cent growth a quarter ago. External demand grew 27 per cent while domestic demand increased by a mere 0.3 per cent.
        41 words
      • 58 2 THE domestic supply price index, which measures the change in prices of imported and locally manufactured goods retained for use in the economy, fell by 3.5 per cent (year-on-year). The decline was due to lower prices of crude oil, diesel fuel, fuel oil, premium motor
        58 words
      • 97 2 THE import price index recorded a year-on-year fall of 2.5 per cent because of lower import prices of crude oil, fuel oil, other chemical products, and parts of data-processing machines. The Export Price Index also registered a similar downward trend, falling by 5.2 per cent for
        97 words
    • 484 2  -  By Corinne Kerk GROWTH in the commerce sector slowed to 8.3 per cent, down from 9.9 per cent in the first quarter. Expansion came mainly from the entrepot trade subsector which registered 44 per cent growth, up marginally from 13 per
      484 words

  • SINGAPORE NEWS
    • 357 3  -  By Quak Hiang Whai ABOUT 100 people who lost their jobs at palm oil trader Devon group will have to make compensation claims ofT their own back. According to NTUC News, only nine of the 100 or so workers from
      357 words
    • 318 3 INDIA'S booming seafood industry is attracting plenty of Singapore dollars, through increased cooperation in marketing, technology and trade. And more business is are likely, after the signing yesterday of a Memorandum of Understanding between the Seafood Industries Association Singapore (SIAS) and
      318 words
    • 439 3  -  By A J Leow A-HOUSE Boutique Hotels, the local operator of the Inn of Sixth Happiness, has scaled down its plans to build and manage a chain of boutique hotels in the region. The operator is now looking for a partner to
      439 words
    • 180 3 SINGAPORE will host a major energy conference next month. The Asia Energy Efficiency Conference, on Sep 22 and 23, will examine such issues as energy efficiency, electricity supply and demand management, heat and power co-generation in industry, energy management for buildings and
      180 words
    • 94 3 The Straits Times FOUR men were charged in a district court yesterday with kidnapping an Indian businessman on Saturday night. Jacob Packiam, 35 and Sinnasamy L Marappan, 42, both Malaysians, together with Singaporeans Ramaya Ramasandram, 42, and Rajandran R Rengasamy, 31, were alleged to have
      The Straits Times  -  94 words
    • 87 3 Corrections clarifications IN a report on Tuesday, headlined "HDB resale transactions double in first half", we said that HDB rules prohibited residents from downgrading to smaller flats by buying directly from the Housing Board. This is incorrect. Lessees of HDB flats are allowed to purchase smaller flats from the Board.
      87 words
  • Page 3 Advertisements
    • 533 3 f flf With 720 dpi and 16.7 million colours, what you see is what you get. on jjlll^^ Image captured with Hi-Definition Inkjet Technology The EPSON Hi-Definition Colour Inkjet Printer. EPSON Stylus COLOR Inkjet Printer is the only inkjet Th« epson stylus droplets with bullet-like accuracy. So v printhead, only
      533 words
    • 25 3 Difficulty In getting a copy of Her World. Go, Singapore Business, Home Decor, Young Parents? Cal our Hotline 749 2577 for locations of nearest newsstands.
      25 words

  • SOUTH-EAST ASIA
    • ASIA NOTES
      • 82 4 Reuter JAKARTA Indonesia responded positively yesterday to a likely delay by the US in deciding whether to continue with a trade privilege extended to Jakarta. "If it is true, it is something positive for Indonesia," Manpower Minister Abdul Latief told reporters yesterday. Washington
        Reuter  -  82 words
      • 116 4 AFP CANBERRA Australian High Court judges here yesterday reserved their decision in a case which a lawyer said could lead them to deliberate on the lawfulness of Indonesia's 1976 takeover of East Timor. The case is a constitutional challenge to the validity of the
        AFP  -  116 words
      • 65 4 AFP MANILA A near-empty check-in counter of Philippine Airlines (PAL) greeted passengers at Manila's domestic airport yesterday as PAL ground crew went on strike, causing flight delays in domestic and some international flights. Union members called the strike to protest PAL's refusal to reinstate 183 ground
        AFP  -  65 words
      • 84 4 Reuter MANILA A possible Indonesian ban on palm oil exports could boost coconut oil and product prices in the short term but rising supplies of copra would probably trim gains, dealers said yesterday. "It will inject a bullish note in the market.
        Reuter  -  84 words
      • 62 4 Reuter JAKARTA Indonesia is looking at ways to regulate an estimated 40,0 CX) non-government organisations (NGOs), ranging from human rights to clean water campaigners, a move seen by some groups as a way to curb their activities. NGOs operating in Indonesia are supposed to
        Reuter  -  62 words
    • 326 4 Reuter JAKARTA Indonesia's central bank governor has painted an optimistic picture of next year's economic outlook, forecasting growth rates of nearly 7 per cent and an influx of foreign investments. But Sudradjad Djiwandono, in a speech to the University of Indonesia made
      Reuter  -  326 words
    • 427 4  -  From Moggie Ford in JAKARTA CONTINUED economic growth and an increase in car ownership are likely to speed up plans for a mass rapid transit system in Jakarta, with firms controlled by three of President Suharto's children in the race to
      427 words
    • 204 4 Knight-Ridder SINGAPORE Malaysia's Election Commission forecast on Tuesday it would need three months to make final its new voter registry, now that the last registration drive has ended, The Star reported. That last drive was completed late last month. So,
      Knight-Ridder  -  204 words
    • 421 4  -  From Loh Hui Yin in BANGKOK A QUESTION mark was again raised over the construction of a 35 billion baht (SS2.I billion) mass rapid transit system here, despite hard-won approval in principle from the government. The latest uncertainty arose following the Thai
      421 words
  • Page 4 Advertisements
    • 264 4 I WELLINGTON, NEW ZEALAND I AUCKLAND, NEW ZEALAND InVACfmAhtC 151-159 Willis St, Wellington 627 Mt Wellington Highwoy, Auckland iwl 119 Heart of Wellington's Central Business District Located just 15 minutes from Auckland's Central Business District 8 level carparking building Further development in the immediate area FOT Cltl appointment COHtOCt: 3
      264 words

  • CHINA/HONGKONG /TAIWAN
    • 534 5 NYT WASHINGTON US President Bill Ginton is expected to approve a policy change in the next few weeks and raise the political standing of Taiwan, a step that is likely to anger Beijing. Administration officials said that the policy review is on
      NYT  -  534 words
    • 321 5 Reuter BEIJING China plans a giant survey to try and find more oil, gas, copper and other key minerals to help meet increasing shortages, the official Xinhua news agency said yesterday. It quoted the Ministry of Geology and Mineral Resources as
      Reuter  -  321 words
    • 144 5 AFP TAIPEI Taiwan has allowed 26 overseas branches of four state-run banks here to deal with their Chinese counterparts in the latest financial liberalisation across the Taiwan Strait, officials said yesterday. The finance ministry on Tuesday gave the green light for the
      AFP  -  144 words
    • 60 5 AFP BRUSSELS A customs officer showing reporters a piece of ivory which was confiscated at Brussels* airport on Tuesday. The piece was part of about 102 kg of ivory seized while it was being shipped illegally from Zaire enroute to Beijing. The ivory had been cut up
      AFP  -  60 words
    • 314 5  -  From Lim Soon Neo in HONGKONG GIORDANO Holdings, at the centre of speculation that it is on Beijing's hit list after its chairman angered the Chinese by publicly criticising Premier Li Peng, saw its share price fall by
      314 words
    • 101 5 Reuter WASHINGTON The White House on Tuesday unveiled a lis! of imports from Taiwan it will bar in response to that nation's continued trade in products made from endangered tigers and rhinoceroses. The ban, which takes effect on Aug 19, includes imports of products made
      Reuter  -  101 words
    • 95 5 Knight-Ridder HONGKONG Guo Fengmin, head of the Chinese side of the Sino-British Joint Liaison Group, will retire at the end of next month, the English-language daily Eastern Express reported yesterday. The Sino-British Joint Liaison Group is the chief ChinaUK panel for negotiating
      Knight-Ridder  -  95 words
    • 113 5 AP TAIPEI Taiwan's government promised the island's embattled pirate radio broadcasters yesterday that it would make it cheaper for them to go on the air legally. The high capital and equipment requirements for private radio stations have led to the proliferation of pirate stations,
      AP  -  113 words
    • 87 5 Bloomberg Business News BEUING Keen to dean up its poor image on defending intellectual property, China has become a formal member of the Nice Agreement, an international trademark protection group, the official China Daily reported yesterday. The paper said China's membership will bring the country's
      Bloomberg Business News  -  87 words
    • 92 5 AP TAIPEI The government plans to sell NTS26.S billion (S$l.S billion) worth of its ownership in six state-run companies, officials said yesterday. The plan, subject to Cabinet approval, is aimed at easing the government's growing financial strain, the Council for Economic Planning and
      AP  -  92 words
  • Page 5 Advertisements
    • 172 5 kJv SFeast; kFotJUI tfhe/ Sense& 4r 7^r; PS. a jK X ■»£>' JP Bastiani, Kmch is a Mediterranean culinary > rrTT J. TJITI experience to be savoured in every sense. Prepare to be overcome by the aroma of delicate Lunch: spices wafting from our wood burning oven and grill. Your
      172 words
    • 159 5 Pa jiz "mli H I rr. H !mJ Ift I ■■PJ9I World-class choreography. Masterfully performed. China Airlines Like an accomplished dance troupe, China from Taiwan, one of the world's fastest Airlines owes the superior craft of its service growing economies. aloft to a routine of daily rehearsal. Trained To expenence
      159 words

  • REST OF ASIA
    • ASIA NOTES
      • 68 6 Reuter WASHINGTON The Commerce Department gave final notice that it will collect anti-dumping duties of 16.57 per cent on imports of colour TVs and parts made by three South Korean companies. The department said the firms Quantronics Manufacturing Korea Ltd, Tongkook General
        Reuter  -  68 words
      • 74 6 Reuter TOKYO Japan's Ministry of International Trade and Industry has no specific plan to abolish preferential tariff treatment for industrial products made in some countries. A Miti official denied a report in the Nihon Keizai Shimbun daily that Miti had decided to abolish such treatment
        Reuter  -  74 words
      • 75 6 AFP DHAKA Controversial feminist writer Taslima Nasreen, whose execution has been demanded by Muslim fundamentalists, has left Bangladesh and is on her way to a European country. Newspaper reports and diplomatic sources here said yesterday Ms Nasreen was believed to have left Bangladesh early-Tuesday on a
        AFP  -  75 words
    • 316 6 AFP NEW DELHI When he was Indian president for five tumultuous years, Ramaswamy Venkataraman won credit for keeping the nation's highest office strictly above politics. Two years into retirement, the silver-haired octogenarian has sparked a storm by publishing his memoirs, resurrecting political ghosts and sparking
      AFP  -  316 words
    • 433 6 Reuter WELLINGTON New Zealand Prime Minister Jim Bolger yesterday said his party was trailing in the battle for a parliamentary seat which it must win to keep its majority. Mr Bolger said that an opinion poll in the South Island seat of
      Reuter  -  433 words
    • 236 6 Reuter BRISBANE Australian farmers, battling to survive possibly the worst drought on record, say their plight is not being taken seriously even though it could slow the na- t ion's economic growth. City slickers still picture working on the land as the good
      Reuter  -  236 words
    • 297 6  -  From Florence Chong in SYDNEY AUSTRALIA'S most profitable investment bank, Macquarie Bank, has formed a joint venture company with Beijing-based China National Non-Ferrous Metals Industry Corporation (CNNC). The 50-50 venture, Asia Resource Capital Ltd, is incorporated in Australia with the
      297 words
    • 313 6 AFP SEOUL A Korean Airlines (KAL) Airbus A-300 crashed and exploded into flames while landing at the resort island of Cheju yesterday but air 160 aboard miraculously escaped without serious injury. Dazed but grateful passengers praised the heroism of the cabin crew
      AFP  -  313 words
  • Page 6 Advertisements
    • 119 6 MMPPPW* i I it „_i lit I, i #pi ■VP* ■pi I 1,1 ill* in fi'SJii! I I g mm HI 9M 4uC#^«fl r *A H^KI'^HQH I jw<fr Successful executives possess an innate ability '< it V*^MfriS^^~ \y?/J! to identify opportunities in a competitive world. ijlP In Singapore they choose
      119 words
    • 219 6 The Genesis One speakers... world's best...costs $130,000... COE already included. I Winner 7 Best Sound _§T High-End Show P—A Singapore At $130,000, you may be suprised to learn that the Genesis One is not a car but rather, a 1.25 ton speaker system designed to be the ultimate, no-compromise loudspeaker
      219 words

  • THE WORLD
    • 493 7 AP WASHINGTON Many top economic forecasters believe US consumer prices will rise just 2.7 per cent this year, the same as last year and well below the level they fear would signal rapid acceleration. The consensus forecast of the 50 economists
      AP  -  493 words
    • 226 7 Reuter BONN Chancellor Helmut Kohl's government yesterday criticised a German court for praising a far-right leader's character after it had given him a mild sentence for denying the Nazi Holocaust took place. Mr Kohl's spokesman Norbert Schaefer said the Mannheim regional
      Reuter  -  226 words
    • 219 7 Bloomberg Business News BONN Germany's leading industry group said it opposes its government's proposals for a European Union cartel office with less power than the current EU competition authorities. The group, the Bundesverband der Deutschen Industrie, is the first major
      Bloomberg Business News  -  219 words
    • 55 7 AFP MOSCOW With a show of raised hands, MMM shareholders voted in snpport of organising their own party in a struggle for their rights on Tuesday, outside the office of the beleagued company. The events around the MMM crisis are developing more and
      AFP  -  55 words
    • 100 7 AP MOSCOW Russia is not willing to sell its top-of-the-line SU-35 fighter-bomber jets to neighbouring China, a top official said yesterday. Russia sells military hardware to China, and recently delivered to Beijing a number of Su-275, an earlier generation of fighters. But China
      AP  -  100 words
    • 100 7 AP WASHINGTON The US government's Export-Import Bank is expanding its support for US sales to 11 countries of the former Communist nations, the bank announced on Tuesday. The 11 were among 40 countries where the bank has said it will be placing a wide
      AP  -  100 words
    • 143 7 Reuter LONDON Labour's Tony Blair is the toughest, friendliest, brainiest and most attractive leader of a main British political party and the best man for prime minister, an opinion poll said on Tuesday. In the survey for yesterday's Guardian newspaper the opposition
      Reuter  -  143 words
    • 210 7 Reuter KUWAIT Kuwait opened banks and insurance companies to minority foreign ownership for the first time to try to improve'financial sector management and competitiveness. Law number 51 of 1994 sets a limit of 40 per cent on the amount a foreigner can
      Reuter  -  210 words
    • 444 8 NYT WASHINGTON Attorney General Janet Reno has asked a panel of federal appeals court judges to appoint an independent counsel to investigate whether Agriculture Secretary Mike Espy illegally accepted travel, lodging, entertainment and other gifts from the country's largest poultry producer. In
      NYT  -  444 words
    • 58 8 AFP LONDON This may be the look of the proposed new-style UK driving licence. The licence, which will bear the driver's photograph, drew protests from civil rights activists who said it doubled as a national identity card. The card shown here by the Department of Transport
      AFP  -  58 words
    • 350 8 Reuter PARIS France claims to be the motherland of liberty, but a spate of recent criminal cases has sparked debate over the extent of "Big Brother" surveillance. Should a judge be able to order the tapping of a Member of
      Reuter  -  350 words
    • 381 8 First Lady hits out over spate of 'vicious hatred' AP WASHINGTON All may be fair in politics but First Lady Hillary Rodham Clinton on Tuesday said she was worried that the recent spate of "vicious hatred" directed at the President and her is
      AP  -  381 words
    • 415 8 Reuter OTTAWA Gordon Thiessen, Canada's central bank governor of six months, has managed to walk a fine line between keeping interest rates under control and keeping the currency stable at a time when the country's financial markets are volatile. The spectre
      Reuter  -  415 words
  • Page 7 Advertisements
    • 4 7 jjmjj mk hj^ at
      4 words
    • 215 7 The Key Card To Successful Private Banking V, «"*Y" Ut«) This chart contains information which can be key to your successful international investment. Every long-term investor knows the only constant in any investment equation is change. A change in short-term interest rates can dramatically change the course of bond prices
      215 words

  • Page 8 Advertisements
    • 214 8 The Digital Value Line Computer. From only $2,250. Limited Period Only. Built to yield big returns, the DECpc The LPx 433 DX. Only 552,250 for a LPx Value Line computers are loaded complete system: with time- and cost-saving features that i4B6™ DX processor 33MHz meet ISO9OOO/MRPII Class A quality 4MB
      214 words
    • 38 8 Classified's the place to locate a new owner for your trusty wheels. Drive home the message with a well placed ad in the Vehicles section of rf\\n The Straits Times Classified. Call 737- r ati 1166 today. 737-n—
      38 words
    • 76 8 SYDNEY "l AUSTRALIA 60 "YORK STREET IN THE HEART OF THE CBD. 6 STRATA TITLE OFFICE FLOORS APPRCK 4300 SQ FT PER FLOOR, TOGETHER WITH SECURITY CARFARKING RENTAL GUARANTEE OF 10% FOR TWO YEARS A Unique Property Investment For full details contact: DAVID HAYLEY at the Westin Plaza, 2 Stamford
      76 words

  • SPORTS
    • 1122 9 PGA Championship Preview NYT TULSA, Oklahoma It's a risky business trying to pick a winner from a field of 151 players in a golf tournament, a task made chancier still when the tournament is the PGA Championship. The PGA, the year's final major, which begins today at
      NYT; Reuter  -  1,122 words
    • 572 9 AFP TORONTO Dream Team II added insults to embarrassment on the way to their most lopsided victory yet at the World Basketball Championships. Reggie Miller scored 31 points and the US team of National Basketball Association stars rolled over Australia 130-74
      AFP  -  572 words
    • 492 9 World Basketball Championships Reuter TORONTO He is listed on his team's roster as Adiljan, just Adiljan. To fans at the 12th World Basketball Championship he is the main man of the surprise Chinese team. By qualifying for the quar-ter-final round, 2-2, China has ensured itself
      Reuter  -  492 words
    • 561 9 Reuter TULSA Arnold Palmer says goodbye to a big part of his life this week when he plays in his 37th and final PGA Championship the only major title he has so far failed to win in his distinguished career. The 64-year-old Palmer,
      Reuter  -  561 words
    • 373 9 AP TULSA, Oklahoma A nonAmerican sweep of golfs major championships "would be good for golf," Greg Norman said. An unprecedented sweep is more than a possibility going into the PGA championship, the last of the year's Big Four events
      AP  -  373 words
    • SPORT SHORTS
      • Article, Illustration
        333 9 Upi AFP HELSINKI Fermin Cacho got his tactics right on the night again on Tuesday to add the European 1,500 meters title to the Olympic crown he won amidst such emotional scenes in Barcelona two years ago. The Spaniard made his move with 250 metres to go. sweeping past
        Upi; AFP  -  333 words
      • Article, Illustration
        71 9 NEW YORK Major Leagae Tuesday National: Chicago 2 SF 3; Cincinnati 5 LA 3; Florida 5 St Louis 3, Houston 3 San Diego 4/ Pittsburgh 3 Montreal 4; Philadelphia 5 NY 1. Colorado 4 Atlanta 7. American: Detroit 10 Milwaukee 4/ Texas 5 Seattle 8. NY 5 Baltimore 6.
        71 words
      • Article, Illustration
        187 9 AFP TORONTO World Championships quarter-final round gases Tuesday Group h Russia 101 Puerto Rico 85; US 130 Australia 74. Standings (GP W L Pis* 1 US 1 1 0 2 2 Russia 1 1 0 2 3 Australia 10 10 4 Puerto Rico 10 10. Consolation round: Spain 94
        AFP  -  187 words
      • Article, Illustration
        171 9 AP PHOENIX The family of Heather Farr, the LPGA golfer who died of cancer last year, filed suit on Tuesday against a golf club manufacturer, seeking to reclaim hundreds of thousands of dojlars in medical expenses. The suit was filed in federal court against Karsten Manufacturing Corp. maker of
        AP  -  171 words

  • INNOVATION & TECHNOLOGY
    • 779 10  -  The Institute of Systems Science has the technology to age a person's photo. David Mok reports David Mok THE latest version of a computer-based face recognition system developed by Singapore's Institute of Systems Science (ISS) can recognise a face that has
      779 words
    • IN TAKES
      • 100 10 TOKYO Sanyo Electric Co, NHK. Engineering Services and Toppan Printing Co have jointly developed an autostereoscopic three-dimensional display that they say is the world's first of its kind. The system, to be released in November, allows viewers to see high-quality 3-D images on large screens
        100 words
      • 111 10 UPI SAN FRANCISCO An imaging technique could significantly cut the cost, time and trauma of diagnosing a baby's breathing problems, scientists reported on Monday at an annual medical conference. Magnetic resonance imaging could reduce the expense of diagnosing a congenital malformation that causes breathing disorders
        UPI  -  111 words
      • 91 10 UPI WEST LAFAYETTE, Indiana A Purdue University professor says his study of bovine body language, in particular the use of tails in cow communication, has brought farmers and scientists a step closer to unlocking secrets of livestock cognition. Tail position tells a lot about a cow and provides
        UPI  -  91 words
      • 115 10 Reuter NEW DELHI Indian scientists say they have developed a drug to combat the life-threatening tropical disease malaria, the Press Trust of India (PTI) said recently. The candidate drug, developed at the Indian Institute of Science in the southern Indian city of Bangalore, has been successfully
        Reuter  -  115 words
  • Page 10 Advertisements
    • 42 10 jM W AMr n The IBM Performance Series. Now available to Deborah Pereira. And everyone eke. m [Wwis, jt jjRKBm mm For more information, contact your nearest authorized IBM dealer. IBM and Value Point are trademarks of International Business Machines Corporation. HM2MM
      42 words

  • THE LAW PAGE
    • 777 11  -  Jan Hoffman looks at the Lawcard, a kind of credit card that can be used in the US to pay for legal fees Jan Hoffman NYT A LAWYER'S reluctance to turn bill collector is matched only by some clients' reluctance to pay
      NYT  -  777 words
    • 286 11 UPI MANY US business executives are becoming interested in alr ternative dispute resolution as a way to resolve legal disputes outside the court system. Businesses are attracted to alternative dispute resolution, commonly known as "ADR", due to their frustration with the
      UPI  -  286 words
    • 586 11  - Helen Yeo Partners sign China agreements BAR ■AT THE -s=* By Conrad Raj ALMOST every major Singapore law firm now has a China practice, an indication of the strengthening economic and business ties between the two countries. However, no one appears to be as aggressive as the relatively young firm
      586 words
  • Page 11 Advertisements
    • 264 11 Ujon't obsolescence just became obsolete. Now, the IBM Value Point gives you a business computer that not only networks with the best of them, but also lends Value Point Performance itseli to many upgrade opportunities as well, Sent*. both in the bus and the processor. It comes to you with
      264 words

  • Page 12 Advertisements
    • 595 12 t^^NoHiiiigßeaAsAßiid.n^ FRESPfI .PASTA bAI LY. W From Pasta Frttca. Tho only rostaurant to mafco Ms own ip«ck»Wy pasta. tvwydoy. Savour porfoct pizza, flwot OotaH and torrlflc tlromtsu. AN toppod m iw. ,nitjillfu wlffi liviHOn nosptraiiij. NMkwnOiMMlMfhW SO Boat Quay. S4OKXI |Op«n 24 hounl. M: 532 62*3/532 MK> Mi (33 foyotvM*
      595 words
    • 295 12 WHERE TO WINE, DINE AND ENTERTAIN LET'S TALK OVER LUNCH Seafood Theatre Restaurant proudly presents a series of monthly luncheon talks by expert well-known personalities. August 13 ABBM 27 Body Massage Essential Study Skills by Mr* Angelyn lim by Mrs Jannie Tang Buffet lunch and talk at $28 nett. jpT^anLM.
      295 words
    • 396 12 ra r <~= fancy 'Beijing? Then, we're delighted to suggest the fine Court for a memorable dining experience. Our lunch menu offers a variety of diati %in 'Beijing dumplings, a selection QXTV of set menus, and Beijing specialities D|J|/\ such as Beijing tafyd Tench and Marinated Lamb. fancy some nowt
      396 words

  • LIFESTYLE
    • 603 13  -  The treasures will be the most ambitious exhibit ever mounted in the US, reports Ros Davidson Ros Davidson Reuter More than 2,000 years ago, Xi'an in what is now China was the capital of the world's first and largest empire and the richest city on earth.
      Reuter  -  603 words
  • Page 13 Advertisements
    • 201 13 A toast to Sunday. Now when you brunch at Capers you'll find more than sumptuous Asian and Continental favourites for only $32' per adult and $16** for children under 14. The J55 Champagne Brunch includes a bottle of the bubbly for two. Cheers! OtegntX v Singapore A Foua Siasons Recint
      201 words
  • Page 13 Miscellaneous
    • 1186 13 I TVa RADIO I Quick Change, 8.30pm, SBC 5 p Bill Murray, Geena Davis and Randy Quaid are three desperate New Yorkers. They pull off a neat bank robbery but find getaway nearly impossible. This quirky 1990 comedy marked Bill Murray's directori- I V The Well-Tempered Bach with v L
      1,186 words

  • 552 14 OF THE seven million people living in Rwanda at the beginning of this year, well over half a million are now dead; a further five million have fled their homes. UN Secretary-General Boutros Boutros-Ghali has described the Rwandan nightmare as "one of the most hideous
    552 words
  • 277 14 EARLY IN July, Taiwanese President Lee Teng-hui signalled an improvement in relations with China when he said that ties between the two sides should be promoted rationally so as to achieve democratic and peaceful reunification ultimately. The breakthrough in discussions between Mr Tang Shubei, vice-chairman
    277 words
  • 131 14 YESTERDAY, Singaporeans basked in the warmth of their National Day. In 1965 Singapore was regarded as a nation without hope. What we are today is the result of planning, hard work, and perseverance. As we progress further and become a nation of excellence which, some experts
    131 words
  • 160 14 WHILE the Singapore government encourages its business people to go abroad to seek greater opportunities, it must cater to those people who are willing to heed the call and have family responsibilities at the same time. Their children's education is one major worry which the government
    160 words
  • 142 14 IT IS obviously too early to assess the implementation of the special poverty alleviation programme which was launched last April under the Presidential Aid Programme for Poor Villages throughout Indonesia. As usual, it is only to be expected that some technical problems may crop up at the
    142 words
  • 176 14 THE FAILURE of the US and Japan to reach an agreement on Japanese government procurement is quite regrettable and is another sign of the abnormal direction the bilateral relationship has taken. Although the two nations intend to continue negotiations, the talks will now be
    176 words
  • 144 14 THE APPARENT DECISION by members of the Executive Council not to declare their share dealings is a giant leap backwards for open government in Hongkong. It is a decision that adds nothing to the lustre of those who made it, sends precisely the wrong message at
    144 words
  • 787 14  -  Gregory Clark says the debate over North Korea's nuclear plans shows why Western diplomacy has tended to fail in Asia Gregory Clark THERE ARE two very opposed ways to look at the North Korean regime. The hawkish view says it started
    787 words
  • Page 14 Advertisements
    • 270 14 Attention I Executive Officers, Personnel Managers, Training Managers... I SEMINAR on I Technology in Training I for Human Resource Development I There is lots of work to be done and I You and your staff are very busy. 1 You know the need for continual training but I they Just
      270 words
  • Page 14 Miscellaneous
    • 50 14 gwoy TywsoHp J lSk^'i.^2 N H '*V -\T $r Vqud^.^. POONESBURY GARRY TRUDEAU I AWBeirtUASTHAT nHn II fmizmr caju>lm A (*ncM.<XM**e I *&u* i ***H I J H#K A HJ666*. UZWST I 7H^J^f rf <%g£ 1 then aecw uotrr nam until WI gwol*p. hxtv |bJ «KV ALLT&FACVAFS **<* I 11
      50 words

  • ANALYSIS
    • 2548 15  -  Y C Wang's Formosa Plastics Group is focusing on a new avenue of growth: electronics. This could change the face of Taiwan's economy drastically in a few years. Pete Engardio and Margaret Dawson examine the waves that the next Wang generation is
      2,548 words
  • Page 15 Advertisements
    • 248 15 NEW CENTER NOW OPEN IN KLANG if you are worried about your hair you doubtless study every tiny area of your scalp that seems to show through more than it should You cant be sure, there Ay may not be any problem-but then again, it could be I the onset
      248 words

  • 324 16 Bloomberg Business News Reuter, TOKYO A Japanese government economic policy group is set to examine the fast-growing world derivatives market in light of the recent sharp rise of the yen, group member Shigeru Goto said yesterday. The main thrust of the group's investigation
    Bloomberg Business News; Reuter,  -  324 words
  • 69 16 Reuter KUALA LUMPUR South African President Nelson Mandela's youngest daughter, Zinzi (left), receiving the Tun Razak Award on behalf of her father yesterday. The award, presented by Hajjah Rahah (right), widow of former Malaysian Prime Minister Tnn Razak, was in recognition of Mr Mandela's "resolute resistance
    Reuter  -  69 words
  • 186 16 Bloomberg Business News PRAGUE The Czech Republic government said yesterday it wants a single foreign partner to buy 27 per cent of state-owned SPT Telecom. "It's necessary to keep SPT Telecom as an integrated operator," said Karel Dyba, the Czech Republic's economic
    Bloomberg Business News  -  186 words
  • 251 16  -  From Al Labita in MANILA THE Manila flagship of Malaysia's Westmont Moldings plans to launch a mutual fund to invest in blue chip Philippine and Malaysian stocks. The Philippines-Malaysia Fund will be managed by Westmont Bank and the Wall Street-based Clcmcntc Capital. A
    251 words
  • 209 16 Reuter HONGKONG The Hongkong government has awarded another contract for the colony's new airport without a Sino-British agreement on financing the huge project, the Hongkong government said yesterday. The contract, worth HK$2O4 million (Ss4o million), was given to US-based Raytheon Co for
    Reuter  -  209 words
  • 491 16 NYT WASHINGTON Torn between its sense of history and its partisan imperatives, the US Senate on Tuesday began debating national health insurance, the last unfinished business of the New Deal. Senator George Mitchell of Maine, the majority leader, said providing health insurance
    NYT  -  491 words
  • 1020 16  -  The Bottom Line LEON HADAR LEON HADAR The writer is BT's Washington correspondent WATERGATE. Americas most celebrated public scandal, whose 20-year anniversary Washington is marking this week, gave birth to several unforgettable moments and a set of colourful characters that have become part of
    1,020 words
  • 160 16 Reuter WASHINGTON Business and professional groups urged the US Congress to reform securities fraud laws but opponents said claims of excessive suits were exaggerated. "The six largest accounting firms, which audit more than 90 per cent of our nation's public companies, are
    Reuter  -  160 words
  • Page 16 Advertisements
    • 70 16 r Nitsuko Di£ i t .11 Keyphone Systems ~W <* jl ;leadingEJgeTethnology Since 1 January 1994, SAVILLS HAS ACQUIRED £124,200,000 OF COMMERCIAL PROPERTY IN LONDON, AND THROUGHOUT THE U.K. FOR THEIR CLIENTS. For further information, please contact: In association with Savills I SAVILLS 1 71 409 8760 /J J Jl*
      70 words
    • 25 16 Distributor: re,: 278 C far- 97 fi 78 9 8 Singapore Communications Equipment Co Pic Ltd I 0A LIU I O¥ U v Quality Seivice
      25 words

  • COMPANIES & MARKETS
    • 320 17  -  By Rahita Elias SINGAPORE Homegrown conglomerate Keppel Corp and listed Jurong Cement will invest a total of 90 million renminbi (5515.6 million) in a cement plant project in China. Keppel said in a statement yesterday that it had formed a 50-50
      320 words
    • 438 17  -  By Agnes Wee SINGAPORE Diversified Malaysian company, Multipurpose Holdings Bhd, (MPHB), yesterday reported a 48 per cent jump in group net earnings to M 552.91 million (5530.7 million) for the six months ended June 1994. Earnings per share was 7.1 sen compared with 4.8
      438 words
    • 213 17 Bernama KUALA LUMPUR Kumpulan Guthrie Bhd has proposed to streamline its property development division togeU??r with Highlands Lowlands Bhd. KGB said yesterday that under the scheme, Augsburg (M) Sdn Bhd, which owns the land known as Bukit Jelutong Rasak, will become a subsidiary of
      Bernama  -  213 words
    • 194 17 Bernama JOHANNESBURG Renong Bhd has acquired 5.6 ha of prime residential land here for 25 million rand (5510.4 million), which it plans to develop with a South African partner. Company officials said Edgcot Investments Pty Ltd had been set up to undertake the project.
      Bernama  -  194 words
    • 807 17  -  HOCK LOCK SIEW By Joyce Quek SINGAPORE The suspicious mind might have heard bells ringing when Sembawang Corporation released its halfyear results this week. It may have sounded like alarm bells, but it was probably a wake-up call
      807 words
    • 253 17  -  By Quak Hiang Whai SINGAPORE Sesdaqlisted Goldtron lifted net earnings 13 per cent to $12.6 million in the six months to June 30. It said yesterday that group turnover suited 58 per cent to $222.7 million, with strong contributions from its manufacturing
      253 words
    • 155 17 SINGAPORE Hong Fok Corp's subsidiary, HFL International Consortium, has sold seven million shares of another subsidiary, Winfoong Investment, for HKS4.2 million (S$818,000). The listed property group said the sale would result in an extraordinary loss of about HKSI.S9 million. Hong Fok, the
      155 words
    • EYE on your STOCKS
      • Article, Illustration
        40 17 Firm Market Mood' indicates the likely trading sentiment today, based on brokers polled at 5-6pm yesterday. Overnight events may alter sentiment. Brokers polled: Baring. Fraser, Kay Hian, Nomura. OngCo. Phillip. Smith New Court. Tat Ijee and SG Warburg.
        40 words
      • Article, Illustration
        146 17  -  -By Paul Leo K.LI Holdings closed at $2.22 yesterday, 44 per cent below its year high of $3.98 touched on Jan 11. It has just broken above a downward-sloping trendline connecting the peaks since Jan 11 on the weekly chart, indicating the beginning of a medium-term uptrend. Weekly
        146 words
    • COMPANIES
      • 100 18 Bernama SHAH ALAM The Air Asia second national airline project is still on, said Jamil Jan, chairman of Hicom Holdings Bhd, which has a majority stake of 85 per cent in the company. "Officially, it is still on," he said when asked to comment
        Bernama  -  100 words
      • 104 18 SINGAPORE Bonvests Holdings said its wholly-owned subsidiary Upfront Developments began selling its condominium project at 19 Shelford Road on Aug 3. The group said it has entered into an option agreements with six employees for the sale of five units in the project. The
        104 words
      • 29 18 SINGAPORE Seapower Asia Investments said Hui Kam Yip, Wong Chun Hong and World Ford Investment have ceased to be substantial shareholders in the group.
        29 words
      • 73 18 Bernama KUALA LUMPUR Pegi Malaysia Bhd has moved into the black with a group pre-tax profit of M 54.13 million (552.39 million) for the year ended March 31, 1994, against a loss of M 52.65 million previously. The company said yesterday that group turnover
        Bernama  -  73 words
      • 66 18 Bernama JOHANNESBURG A Malaysian company will develop a US$2OO million (Ss3oo million) low-cost housing project in South Africa, making it the first foreign company in such a venture. Eicon GmbH Bina Sdn Bhd is involved in a 60-40 venture with the African Development Corporation
        Bernama  -  66 words
      • 196 18 Reuter KUALA LUMPUR Red Box (Malaysia) Bhd, a photo frame and album maker, has attracted active speculative interest in the past week on rumours that its chairman had secured a gaming licence in China, industry sources said. A source close
        Reuter  -  196 words
      • 490 18  -  From Al Labita in MANILA THE Philippines Stock Exchange yesterday lifted the suspension of listed oil exploration and property development company Interport Resources Corp, after it reported its stock swap with a Malaysian company. The exchange's market surveillance chief, Maricel Lopez, told Business
        490 words
      • 208 18 NST KUALA LUMPUR Tenaga Nasional Bhd plans to convert its newly completed 625 mw gas-powered electricity generation facility in Serdang, Selangor, into a combined-cycle plant that could probably see an additional investment of about MS4SO million (***** million). Executive chairman Ani Arope said
        NST  -  208 words
      • 270 18 Bernama KOTA KINABALU The Sabah state government is optimistic that the public listed company which it hopes to acquire will be "a good and clean counter". "The counter is a good one... I think it's a clean counter," Deputy Chief
        Bernama  -  270 words
      • 206 18 Bernama SHAH ALAM Perusahaan Otomobil Nasional Bhd (Proton) is prepared to export its left-hand-drive Proton Wira cars to the Philippines by yearend, its managing director, Mr Nadzmi Salleh, said yesterday. For a start, Proton, would export between 250 and
        Bernama  -  206 words
      • 401 18 MARKET AFP KUALA LUMPUR The Malaysian bourse is set for another sensational rally akin to the bull run of last year as a return of foreign funds and a strong showing by listed firms lift market sentiment, analysts said yesterday. Investor
        AFP  -  401 words
      • 404 18 Bernama KOTA KINABALU Dr Mohan M K Swami, the Sabah medical doctor, who recently took over ownership of Chew Piau Bhd, yesterday denied speculation that he had been the proxy for the Sabah state government in its bid to purchase a main
        Bernama  -  404 words
      • 479 18 Maufan' pricas Aug 11 Mendaki Gr Fund 1.19 122$ Singapore Unit Tnist LSGrFund 100 104 www* 1 ||||M A y_A AJ The Commerce 1.64 1.74 MNH ™P W The Savings Fund 1.56 1.65 Unifund I.SO I.S6 S'pore Prog Fund 0.70 0.74 Unibond 1.035 1.060 S pore Sec Fund 1.02 I
        479 words
      • 499 19  -  From Lim Soon Neo in HONGKONG HONGKONG'S leading air carrier, Cathay Pacific, turned in a net profit of HKSBO3 million (S$ 156.4 million) in the first half of this year ended June, below the range of HKS9OO million to HK$l billion analysts had
        499 words
      • 498 19 Reuter SHANGHAI A proposal to pump government money into Chinese brokerages has helped spark a meteoric rise in China's domestic A shares, but financial analysts are sceptical about whether the plan will ever get off the ground. The Shanghai Securities Sews yesterday quoted
        Reuter  -  498 words
      • 411 19 Chairman, several directors under pressure to resign Reuter SYDNEY The future of Australia's largest food group, Goodman Fielder Ltd, has been cast into uncertainty after a revolt by shareholders upset with the company's financial performance, analysts said yesterday. The chairman and several directors
        Reuter  -  411 words
      • 126 19 Bloomberg Business News TAINAN, Taiwan President Enterprises Corp, Taiwan's largest food company, said it plans to list shares in its 7-Eleven convenience store unit on the Taiwan Stock Exchange. President Chain Store Corp, a fully-owned subsidiary of President Enterprises, is Taiwan's largest
        Bloomberg Business News  -  126 words
      • COMPANY BRIEFS
        • 78 19 Bloomberg Business News KINGSTON, Jamaica Hutchison International Port Holdings, a unit of Hutchison Whampoa of Hongkong, is establishing a joint venture with the Grand Bahama Development Company to build a container port at Freeport, Grand Bahama, the Financial Times reported yesterday. Hutchison will invest
          Bloomberg Business News  -  78 words
        • 105 19 Bloomberg Business News HONGKONG Hearings in Hongkong's second insider trading case may be delayed because new evidence could force one of the insider dealing tribunal members to resign over a conflict of interest. At a preliminary hearing yesterday, tribunal chairman Justice Frank Stock said
          Bloomberg Business News  -  105 words
        • 66 19 Bloomberg Business News PARIS French tiremaker Cie Generaledes Etablissements Michelin SCA said second-quarter sales rose 9 per cent to 17.35 billion French francs (SS4.B billion) from 15.9 billion francs one year earlier. That brings first-half sales to 33.28 billion francs, up 9 per cent from
          Bloomberg Business News  -  66 words
        • 96 19 Reuter HONGKONG Oil explorer Paragon Holdings Ltd said Sun World Ltd, a subsidiary of China's state-run China National Petroleum Corp, has agreed to increase its stake in Paragon to 51.74 per cent from 35.36 per cent at a cost of HKSIII.2O million (5521.67
          Reuter  -  96 words
        • 68 19 AFP TOKYO Japan's Toyoda Automatic Loom Works Ltd has agreed with Taiwanese motor parts maker Lio Ho Machine Works Ltd to set up a joint production venture in China, news reports said yesterday. The partners are expected to formalise the deal shortly and
          AFP  -  68 words
      • 389 19 Reuter SYDNEY The Australian Stock Exchange (ASX) said yesterday it would launch a new derivatives market called Share Ratios in what it said would be the first exchangecontrolled market of its kind in the world. Share Ratios is based on the performance
        Reuter  -  389 words
      • 446 19 Reuter TOKYO Bad days for Kumagai Gumi Co Ltd are almost over despite the current misery of the Japanese construction industry in general, as the company trims its once-massive and burdensome overseas property portfolio. Kumagai, one of the few major construction firms
        Reuter  -  446 words
      • 547 20  -  From Lim Soon Neo in HONGKONG STANDARD Chartered Bank, which has plans to seek secondary listings in Singapore and Hongkong, yesterday reported a 39 per cent increase in interim pre-tax profit to £237 million (SSSSI million). The Asia Pacific region was
        547 words
      • 435 20 Reuter SYDNEY Ansett Airlines, perched comfortably as Australia's most popular domestic carrier, is set to spread its wings over Asia in a swoop on rival Qantas Airways Ltd for a share of the lucrative Asian market. Ansett officials
        Reuter  -  435 words
      • 332 20 Bloomberg Business News BROOKLYN Bell Atlantic Corp and Nynex Corp have filed a suit in an effort to block AT&T Corp's proposed US$l2.6 billion (5518.9 billion) acquisition of McCaw Cellular Communications Inc. The two regional Bell operating companies allege
        Bloomberg Business News  -  332 words
      • 218 20 Bloomberg Business News COLOGNE Brisk demand for mortgage loans and feebased services offset slumping trading profit to lift first-half operating profit at Dresdner Bank AG, Germany's second biggest bank, by 11.2 per cent to 1.0 billion marks (***** million) from 936.1 million marks
        Bloomberg Business News  -  218 words
      • 239 20 Bloomberg Business News WASHINGTON Iridium Inc said a group of Indian institutions acquired the rights to a portion of the company's global satellite network and a stake of the company for US$32 million (Ss4B million). The group, led by Infrastructure Leasing
        Bloomberg Business News  -  239 words
      • 207 20 Reuter NEW YORK Microsoft Corp, with annual sales of US$4.4 billion (556.6 billion), topped Forbes' first-ever ranking of computer software publishers based on revenues, the magazine said in technology supplement Forbes Asap. Computer Associates was a distant second with US$2.l
        Reuter  -  207 words
    • FINANCE & COMMODITIES
      • 263 22 NYT NEW YORK KPMG Peat Marwick, one of the Big Six accounting firms, said on Tuesday that it had agreed to pay U*****.5 million (*****.8 million) to settle federal charges that it failed to audit a number of failed and distressed banks
        NYT  -  263 words
      • 432 22 AFP LONDON Britain's leading insurer, Commercial Union (CU), on Tuesday said it had agreed to buy its French counterpart Groupe Victoire for £1.5 billion (553.46 billion) or 12.5 billion francs from Cie de Suez. The purchase will include about
        AFP; Reuter  -  432 words
      • 363 22 Reuter TOKYO Rubber product makers in Japan are confident they can still meet sluggish industrial demand, despite the threat posed by a water shortage to synthetic rubber output, industry sources said. "I've heard that the water shortage may affect (synthetic rubber) supplies, but
        Reuter  -  363 words
      • 364 22 Bloomberg Business News BATON ROUGE, Louisiana Exxon Corp's largest US petrochemical plant was rocked by a series of explosions and a fire on Monday, raising concern about a potential shortage of a key chemical, ethylene. Shares of major US chemical makers jumped to
        Bloomberg Business News  -  364 words
      • 267 22 Reuter COONOOR, India India, the world's laigest tea producer, is considering a package of subsidies and credit to domestic companies in a bid to recapture its lost markets after the collapse of the Soviet Union, exporters said. They said at least 20
        Reuter  -  267 words
      • 155 22 KnightRidder HONGKONG Two commodities futures exchanges in Guangzhou city have been combined into the Guangdong United Commodities Futures Exchange, Hongkong's Ming Pao newspaper reported. The newspaper said the commodities traded on the two exchanges overlapped, limiting the development of commodities markets in the
        Knight- Ridder  -  155 words
      • 165 22 Bloomberg ENERGY REPORT Bloomberg Business News NEW YORK Crude oil futures tumbled to the lowest price in more than a month as US supplies of petrol proved larger than expected, signalling that less crude will be needed for refining into
        Bloomberg Business News  -  165 words
      • 127 22 THE SINGAPORE dollar traded between 1.5060 and 1.5065 for most of yesterday. After Tokyo close, it eased softly in quiet trade. It should soon resume its firming trend, spurred by the second quarter better than expected economic figures. The ringgit closed the day's high with
        127 words
      • 194 22 Bloomberg Business News LONDON The dollar held steady against the mark and yen as analysts speculated when the US Federal Reserve will raise interest rates. Traders awaited several economic reports due today to set a better idea of whether the US economy is growing fast enough to warrant higher
        Bloomberg Business News  -  194 words
      • 94 22 Reuter NEW YORK The dollar was down slightly against the major currencies, except the yen, in early trading yesterday after the limited success of the first round of Treasury auctions the day before. Around 1340 GMT, the dollar traded at 1.5760 marks against 1.5817 on Tuesday and at
        Reuter  -  94 words
      • Article, Illustration
        1237 22 I'rade-nnxhied index ivkvkutd agaiitii Spore's lop 14 trading partners bait year: I*3 US$/S$ forward rates Noon Aug 10 ss Bid Offer 1-month 1.5037 I.50S2 2-month ***** 1 5041 3-month ***** 1.30)1 6-month 1.497J 1.4993 Sounr OCBC Source: OCBC FOREIGN CURRENCY NOTE RATES As at Sm m Aug It: Singapore dollars
        1,237 words
    • COMMODITIES & FUTURES
      • 1245 23 SIMIX RtPOflT Reuter SINGAPORE Simex Euroyen and Eurodollar futures ended mostly unchanged and Japanese government bond (JGB) futures were lower. Euroyen was steady in the morning but followed JGBs slightly lower in the afternoon session. Dealers said the undertone of Euroyen was weak after the increase
        Reuter  -  1,245 words
      • 700 23 COMMODITY REPORTS Palm Oil CRUDE palm oil closed sharply higher, extending overnight gains on continued buying support. Aggressive short covering coupled with speculative interest continued to spur values. Pakistan's presence in the market also boosted sentiment. Aug South was offered at M$ 1,495 a
        700 words
      • KNIGHT-RIDDER COMMODITY SUMMARY
        • 86 23 SINGAPORE Prices of bunker fuel are seen stabilising at current firm levels this week into next week as buyers are unwilling to pay at levels that are too high, despite sustained healthy demand, bunker traders said. Traders here expect the fuel oil cargo
          86 words
        • 96 23 LONDON Egyptian Oil Minister Hamdi alBanbi arrived in Israel yesterday for a meeting with Israeli counterpart Moshe Shahal to discuss a possible gas pipeline, Israel Radio reported yesterday. The report monitored by the British Broadcasting Corporation here said Mr Banbi would hold talks with
          96 words
        • 90 23 MOSCOW Sugar prices in Russia have shot up by some US$5O per tonne since July and are expected to rise even further later this month, analysts say. A tonne of refined sugar sells today at the rouble equivalent of US$39>US$4O5, compared with about US$35O
          90 words
        • 47 23 HONGKONG The Korea Feed Association bought 52,000 tonnes of US corn yesterday at US$llB.3B per tonne C&F, an official said. The grain, sold by Mitsui, will be shipped from the Pacific Northwest for delivery to Inchon port on Oct 20.
          47 words
      • 1362 23 Rubber Aug 10 Stafapore C>—lortHy Exchange Pfcykal Prk (ftrtww dastag m at 5.30pn) Buytrs Mtert As at 12 mm (S cents/kg) RSS 1 Contract (S cents/kg) v RSS 2 Sep 94 200.30 20I.50N u~.,k M»h Intcmt RSS 3 Sep 94 199.50 200.SON Month High Low Sett (toanes) Interest
        1,362 words
    • REGIONAL STOCK MARKETS
      • 916 24 -10.3 CONTINUING anxiety over US interest rates was blamed for sidelining investors and dragging the share market to a lower close. The All Ordinaries Index ended 10.3 points lower at 2,076.5 while the All Industrials dropped 15.3 to 3,041.7 and the All Resources eased 6.6 to 1,351.6. Turnover totalled
        916 words
      • 646 24 +61.82 Share prices ended two days of sideways movement to advance 2.14 per cent in heavy trading yesterday, acting on bullishness in the economy s first semester performance. The PSE Composite Index sprinted 61.82 points to close at 2,944.19. Volume surged to 9.03 billion shares value at 1.57 billion
        646 words
      • 537 24 -106.90 The Taiwan bourse yesterday suffered a heavy loss as investors scaled down shareholdings after four consecutive winning sessions, with shares posting declines across the board. The Weighted Price Index plunged 106.90 points to settle at 6,838.01. Turnover dropped to 2.13 billion shares valued at NTS 106.2 billion. Falls
        537 words
      • 419 24 +12.71 Stocks surged yesterday on news of a government decision to relax its squeeze on money supply for the month, retreating from an austere monetary policy. The Composite Price Index climbed 12.71 points to close at 930.21. Turnover was 21 million shares worth 430 billion won. Rises outnumbered falls
        419 words
      • 293 24 11.87 The NZSE-40 Capital Index partially recovered from Tuesday's sell-ofT but prices were mixed and losing stocks outnumbered gainers 44-30. The index gained 11.87 points to 2,088.10 thanks largely to an eight cent gain by Carter Holt Harvey and a four cent gain by Telecom. Those two stocks
        293 words
      • 101 24 +59.98 Share prices closed higher on across-the-board buying by speculators, with the BSE 30-share Index ending 59.98 points up at a provisional 4,379.06, which is a 27-month high, brokers said. "In the last 15 days, there has been profit-taking in cash shares. That money is now shifting into the
        101 words
    • WORLD STOCK MARKETS
      • 198 24 -3.83 German stocks fell in slow trade as the bond market steadied ahead of US economic data that might see a rise in interest rates. The DAX Index closed down 3.83 points at 2,160.37. "It wasn't worth going to the market today," said a trader. "The market must have
        198 words
      • 139 24 -5.73 Belgian stocks fell as bond yields climbed and investors switched capital into less risky fixed-income securities. The Bel-20 Index closed down 5.73 points at 1,469.58. The decline was further fuelled by worries that rising rates in the US will increase the cost of borrowing for companies and attract
        139 words
      • 233 24 +0.79 Dutch stocks closed higher after trading lower for most of the session as better-than-expected earnings from Hooaovens caused a rally in the final hour of trading. Nervousness about earnings from four major companies due today kept prices down for most of the day but when Hoogovens reported first-half
        233 words
      • 164 24 -146 Italian stocks fell for the sixth consecutive day, as trading linked to stock options dominated an otherwise deserted market. The Mibtel Index closed down 146 points at 10,788. Options for this month expire tomorrow. In Italy, option contracts are personal agreements and are not traded. Therefore the underlying
        164 words
      • 282 24 +39 Shares ended substantially firmer yesterday as investors drove prices higher in steady trade amid a continued surge in sentiment. Dealers said price gains were outstripping strength in underlying fundamentals amid a lack of scrip in quality stocks. The Overall Index closed up 95 points to 5,918, the Industrial
        282 words
      • 242 24 14.70 Stocks continued higher in quiet midday trade, buoyed by recent strength in the Canadian dollar. Traders said some players remain sidelined ahead of key US inflation data due for release today and tomorrow. The TSE-300 Composite Index was up 14.70 points at 4,201.00 in turnover of 30.58 million
        242 words
      • 638 24 +14..24 Investors pushed stock prices higher early yesterday in moderate trading. The Dow Jones Industrial Average, which gained 1.95 points on Tuesday, climbed 14.24 points to 3,770.00 at 11am EDT. The New York Stock Exchange Composite Index was ahead 0.65 to 253.61, while Standard Poors 500-stock Index was
        638 words
      • 828 24 -1.6 STOCKS were mixed for a second day as gains in Glaxo were countered by falls in Standard Chartered and HSBC Holdings. The FT-SE 100 Index fell 1.6 points to 3,167.0. Trading was a moderate 587 million shares. Glaxo rose I7p to 629 as some US investors bought the
        828 words
      • 154 24 -10.31 French stocks fell for the third day amid continuing uncertainty about the fate of US and European interest rates. The CAC 40 Index fell 10.31 points to 2,064.17, having dipped as low as 2,053.31. The broader SBF-120 Index ended the day 7.61 lower at 1,423.45. Declines by Cie
        154 words
      • 113 24 •13.15 Swedish stocks fell for a second day, led lower by Ericsson, as investors stand cautious ahead of US inflation figures. The OMX Index tumbled 13.15 points to 1134.75. Nineteen stocks declined, nine rose and two were unchanged. "It was mainly Ericsson coming down after Merrill Lynch lowered its
        113 words
      • 276 24 +5.9 Swiss stocks rose for only the third time this month as an acquisition by pharmaceutical maker Ciba-Geigy raised hopes for higher eam- ings in the industry. The SMI Index rose 5.9 points to 2,591.4, with 12 shares advancing, three steady and eight falling. The SPI Index rose 2.4
        276 words
      • 496 24 Vienna Vn 10 Asrh l«5 5 Bank Ainlna <P> CA-BV VZ MJ I EVN MOJ Flufhafca 4*2 »"<* Lrn/in| 1317 LcykM 437 nick Maculan Hid VZ 115$ 10 OEMV VZ *W VA TVcHiwtotie 1091 Voucher 373 7 Vcfbvnd Aktie A *52 J Wwnotrrt 3910 2$ Source: Bank Austria Aktiengesellchaft Nasdaq
        496 words
    • Article, Illustration
      2554 25 Bloomberg Business News HONGKONG Stocks rose after a senior Chinese official said China and Britain were close to reaching an accord on financing Hongkong's new airport. Investors didn't want to be left out in the cold after Hongkong shares started rising in London on Tuesday, said a foreign broker.
      Bloomberg Business News; Source: Bridge Info  -  2,554 words
    • Article, Illustration
      494 25 CLSA TURNOVER in Shanghai B shares was a high USSIO million, with most counters increasing by 1-8 per cent. China TM took the lead, gaining 7.5 per cent. Fuelled by positive interim result, Shangling Elec was up 2.5 per cent on active turnover. The index ended 14.94 points up
      CLSA  -  494 words
    • Article, Illustration
      2491 25 Reuter TOKYO Stocks closed a touch firmer on a wave of public fund investor and index-re-lated buying, and an absence of active selling. But the market remained locked in a tight range as many investors were away on vacation and those still around were reluctant to move, traders said.
      Reuter; Source: Bridge Info  -  2,491 words
    • Article, Illustration
      1493 25 Reuter BANGKOK Stocks fluctuated throughout the day to close fractionally higher, with new listing Italian Thai Development in focus, brokers said. The SET Index inched up 0.99 points to 1,407.32 after fluctuating between 1,414.86 and 1,403.55 on 7.63 billion baht turnover. Falls led rises 172 to 106. Ital-Thai was
      Reuter; Source: Bridge Info  -  1,493 words
    • Article, Illustration