The Business Times, 12 January 2002

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Total Pages: 16
1 16 The Business Times
  • 8 1 THE BUSINESS TIMES weekend JANUARY 12-13, 2002 85c
    8 words
  • 1108 1  -  $616 m exercise will give shareholders stakes in Times Properties *y Kalpana Rashiwala [SINGAPORE] Singapore Press Holdings yesterday announced a $616 million plan to de-merge its property business so it can focus on its core media interests, pare debt and boost returns on
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  • 768 1  -  Analysts see growing interest from US, European funds By Catherine Ong [SINGAPORE] After a robust rally this week, most Asian stock markets took a breather yesterday, weighed down by profit-tak-ing and overnight weakness on Wall Street. But Asian-based fund managers and strategists, while bracing
    Source: Bloomberg  -  768 words
  • 423 1  -  Act to stop further yen slide, Beijing tells Tokyo Front Eddie Toh in Kuala Lumpur FEARS of a wave of devaluation sweeping across Asia mounted yesterday when China warned Japan to take action to halt a further slide in the yen. Nearer
    423 words
  • 902 1  -  By Anna Teo [SINGAPORE] "This is the place where US military personnel will be dropped off from a bus and they will walk towards the MRT station, and this is one of the regular buses that carry the military personnel from Sembawang to Yishun
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  • 1095 1  -  SATURDAY SOAPBOX S'pore could draw lessons from Chinese history lee han shih A STATE eager to stay ahead of its neighbours and reinvent itself. Foreigners hired to fill top posts. A few of them spearhead a costly project that fails spectacularly. The failure precipitates
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  • Page 1 Advertisements
    • 25 1 T^f 0 W( JLi I WHAT'S IN STYLE I Homegrown designers: myth or HI wEKm reality? PAGE IS Chairman stick* to earnings forecast, Next Page
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    • 30 1 Fbreign |KiSINH chefs invade London. MflEll MARKETS R Sivanithy. Equities'new lease of life. MfiE2 J Koizumi's visit .la|):in-S'|)oiv pact to set now patterns of economic r< m operation Pg 2
      30 words
    • 20 1 8 1 *****1 1 *****4 11 jQKHHIN THE MONEY Wealth management Singaporeans financially savvy? Market risks earnings setback, Pg 2
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  • in the news
    • 561 2  -  MARKET REVIEW r sivanithy SO far, 2002 has been shaping up as a decent year for Singapore equities. This week, the Straits Times Index chalked up a 1.5 per cent rise to reach 1,704.07 points, raising its year-to-date gain to 5 per cent. And there is
      561 words
    • 722 2  -  The two countries may co-Invest in Asia's corporate sector ity Yang Razali Kassim, Chuang Peck Ming [SINGAPORE] The proposed "new age" economic cooperation agreement between Japan and Singapore looks set to establish new patterns in regional economic relations. The agreement, to be
      722 words
    • 541 2  -  Market conditions still uncertain, says exec chairman By Quak Hiang Whai [SINGAPORE] Singapore Press Holdings which now plans to refocus on its core media business by demerging its property arm has not changed its earlier net profit forecast of $240 million to $250 million
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    • 680 3  -  Private sector-led committee to focus on takeovers and delistings By Angela Tan A PRIVATE sector-led committee is studying concern that the interests of many minority shareholders in Singapore are often smothered by a small number of people who hold majority stakes, especially when
      680 words
    • 249 3  -  But applicants will still need help from professionals By Angela Tan FROM Jan 15, the public, with the help of professionals, will be able to incorporate companies online, taking less than two hours for non-referral cases against the two to three days that
      249 words
    • 279 3  -  By Serena Ng OCBC Bank has given the management of Pinetree Resorts, owner of Pinetree Town and Country Club, until midday today to agree to the appointment of a special accountant to review the company. If the deadline isn't met, the bank
      279 words
    • 375 3  -  Bu Siow Li Sen MAYBANK sees a window of opportunity to grab more market share as local banks focus on integration following recent consolidation. Maybank managing director Amirsham A Aziz said yesterday that Singapore is a key market and a major contributor to
      CHRIS LOH  -  375 words
    • 271 3  -  By Kalpana Rashiwala SUPERMARKET giani NTUC Fair Price expects an nual sales of its on-line stort to hit about $15 million ir three years, says chief exec utive officer Tan Kiar Chew. This would be less thar one per
      271 words
    • 279 3  -  Australian lan Macdonald starts new job next month By Conrad Raj HONG Leong Singapore Finance has found a foreign talent to help its chairman and managing director Kwek Leng Beng to run the recently merged company. Australian lan Macdonaid, 46 and
      279 words
    • 524 3  -  outlook By Anna Teo THERE seems to be a bit of over-reaction to recent economic data, which while "promising" does not yet point unambiguously to strong global recovery early in the year, an International Monetary Fund official said yesterday.
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    • 517 4  -  BTiamiuwj UOB likely to do the same; move comes as local banks face pressure to boost wafer-thin margins By Siow Li Sen DBS Bank has withdrawn the legal subsidy for new housing loan applications and OCBC Bank will do so
      517 words
    • 479 4  -  Fivm to offer all-in-one account to cut interest costs By Genevieve Cua A NEW Singapore-based company aims to "revolutionise" the competitive home loans market by packaging innovative schemes which it claims can help clients reduce interest costs and save money in the long run.
      FILE PHOTO  -  479 words
    • 252 4  -  By Angela Tan DBS Bank, Singapore *S S6Cond largest domestic lender, has widened the scope of pay cuts to more of its staff here. Effective Jan 1 this year, it trimmed its vice-presi-dents' salaries by 5 per cent. The
      252 words
    • 149 4  -  By Teh Hooi Ling SINGAPORE Press Holdings' Chinese television channel, Channel U, has been gaining on the market leader, MediaCorp's Channel 8, and on some days even out-rated it. Figures released by ACNielsen show that Channel IPs average share of the Chi- nese programme
      149 words
    • 404 4  -  CURRENCIES Profit-taking most obvious in high-flying Australian dollar larry wee THE US dollar ended on a much more tentative note yesterday after hitting a three-year high of 133.35 yen earlier in the week. But players also reported solid demand for a second straight day at in-tra-day
      Source: Reuters  -  404 words
    • 723 4 siow li ten Banks and customers should give and take INTEREST rates may have fallen to historical lows, but a large group of mortgage customers are unable to take advantage of it because they are sitting on negative equity. And they form a huge
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    • 291 4  -  By Teh Hooi Ling BROADCASTING company MediaCorp yesterday said it will retrench about 200 employees and cut the salaries of those who remain by up to 16 per cent. MediaCorp said in a statement that the measures which took effect yesterday were taken in view of
      291 words
    • IN BRIEF
      • 41 4 BUSINESSES can start filing for trademarks over the Internet next week, the Intellectual Property Office of Singapore said yesterday. From Jan 15 onwards, half of all trademark-related transactions from IPOS will be available at www.ipos.gov.sg or www.ecitizen.gov.sg/hp/citizen.
        41 words
      • 86 4 SESDAQ-bound clean room equipment specialist Kyodo-Allied Industries said yesterday the public tranche of its initial public offer was 388 times subscribed at the close of the issue. It said 6,856 applications were received for 750,000 shares in the public tranche, and application monies totalled
        86 words
      • 109 4 THE Infocomm Development Authority of Singapore is seeking feedback from the industry and public on the proposed change to the charging method for mobile phone services in Singapore, from Mobile-Party-Pay (MPP) to Calling-Party-Pay (CPP). IDA said the feedback will help it assess and determine
        109 words
    • 1109 5  -  WRITER'S JOURNAL It's due to the silent majority's awakening and the swiftness of the Taliban's collapse karim raslan I RETURNED to Kuala Lumpur after an absence of two months in the United States, prepared for a depressing time at home. I had left here in
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    • 398 5  -  tt will be fully liberalised witli no cap on licensees Frorr Audrey Tan m Hong Kong HONG Kong will fully liberalise its fixed line telecommunications industry by 2003, with no limit on the number of licences to be issued, the government said
      398 words
    • 467 5  -  New central bank ruling could free up funds of over RM4b stuck in low-yielding government paper Fron Eddie Toh in Kuala Lumpur MALAYSIAN insurers are poised to pump more funds into the buoyant stock market following a change in the rule
      AP  -  467 words
    • 626 5  -  An unidentified nominee can hold no more than 5% off a listed fiim From Shoeb Kagda in Jakarta INDONESIA'S stock market watchdog Bapepam yesterday revealed that it was preparing new capital market regulations that would prevent former conglomerate owners like the Salim Group from
      626 words
    • 129 5 Bloomberg, Reuters [KUALA LUMPUR] Malaysian Airline System Bhd said the government has extended the national carrier's tax exemption until 2005. The carrier will be "exempted from paying taxes on income including dividend and interest," it said in a statement. Malaysian Prime Minister Mahathir
      Bloomberg,; Reuters  -  129 words
    • NOTE BOOK
      • 77 5 Bloomberg [KUALA LUMPUR] Time Engineering, a Malaysian mobile phone operator, denied a report that it plans to ask bondholders to forgive part of die money they are owed. The Sun newspaper, citing Reuters news agency, yesterday reported that Time has asked bondholders to forgive
        Bloomberg  -  77 words
      • 57 5 Bloomberg [HUMEN] Malaysia's Perusahaan Otomobil Nasional or Proton joined the rush to build vehicles in China, teaming up with a local partner to make autos and parts. Proton will pay U5522.5 million for a 49 per cent stake in a venture formed with
        Bloomberg  -  57 words
      • 71 5 Reuters IHUNU kunuj (Jftina petroleum and cnemical Corp (Sinopec) laid off between 40,000 and 50,000 workers in 2001 against its target 0f27,000, Sinopec spokesman Chen Ge was quoted by the Ming Pao Daily News as saying. Most of the 27,000 were laid off
        Reuters  -  71 words
      • 66 5 Bloomberg [HONG KONG] Hantec Investment Holdings, a Hong Kong-based foreign exchange trader, said it's poised to acquire KGI Asia Ltd, the Hong Kong brokerage unit of Taiwan's Koos Group, most likely involving a share swap. Apple Daily said yesterday Koos Group plans to
        Bloomberg  -  66 words
      • 76 5 Bloomberg [BEIJING] Royal Dutch/Shell Group will invite bigger rival Exxon Mobil Corp to take a stake in a US$l4 billion project to pipe gas across China, project leader PetroChina Co said. Shell will offer Exxon Mobil part of its 45 per cent
        Bloomberg  -  76 words
    • 485 6 Greenspan's economic outlook speech awaited eagerly by markets yesterday Reuters. Bloomberg AP [SAN FRANCISCO] Federal Reserve Chairman Alan Greenspan was scheduled to offer his prognosis for the US economy yesterday as financial markets listen intently for signals that one of the most
      Reuters.; Bloomberg; AP  -  485 words
    • 258 6 Analysts read the signs in weak prices, tight money supply AFP WEAK wholesale prices and tight money supply figures released yesterday show Japan has fallen into a defla- tionary spiral, analysts said. Domestic wholesale prices in December remained unchanged from a month earlier but showed a
      AFP  -  258 words
    • IN BRIEF
      • 74 6 Reuters [DETROIT] Ford Motor Co yesterday said it would cut 35,000j0bs worldwide and close three assembly plants in North America. Ford chief operating officer Nick Scheele said it would close assembly plants in Edison, New Jersey; Hazelwood, Missouri; and Oakville, Ontario. The
        Reuters  -  74 words
      • 82 6 AFP [WASHINGTON] Microsoft and Yahoo began a feud on Thursday over which firm has the most popular Internet search engine. Microsoft claimed that its MSN Search site is now the most popular search engine in the US, with 36.6 million users, eclipsing Yahoo's 31.9
        AFP  -  82 words
      • 57 6 Bloomberg [LONDON] Former Schroder Securities analyst Julie Bower was awarded £1.41 million by an employment tribunal for unfair dismissal and sex discrimination, a tribunal clerk said. It ruled in April Ms Bower was forced to quit her job because her £25,000 bonus for 1996 didn't
        Bloomberg  -  57 words
    • 167 6 AFP Dow Jones [UNITED NATIONS] The Sept 11 attacks on the US will limit growth in the world economy to 1.5 per cent and trade to 3 per cent this year, the UN said on Thursday. "A pervasive slowdown in the
      AFP; Dow Jones  -  167 words
    • 1000 6  -  VALL E Y V I E W Apple does a splendid job of it with the out-of-this-worid new iMac jennifer lien fSILICON VALLEY] LAST week. I finally caught the Pixar animated movie. Monsters, Inc. While I found the movie itself thoroughly entertaining, it was the image
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    • 193 6 Reuters [SCOTTS VALLEY, California] Privately-held computer disc drive maker Seagate Technology reported on Thursday a US$l22 million net profit and a slight rise in revenue in its fiscal second quarter. Seagate, taken private in 2000 at the beginning of a downturn in technology spending, said
      Reuters  -  193 words
    • 839 7 New twist and White House disclosure of earlier Enron plea deepen fiasco LAT-WP [WASHINGTON] Accounting firm Andersen acknowledged on Thursday that it destroyed a "significant" number of documents related to its audit of Enron Corp, as the White House disclosed that the energy company's chief
      LAT-WP  -  839 words

  • Page 3 Advertisements
    • 78 3 IBTECH PTE LTD (IN VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that pursuant to Section 308(2) of the Companies Act, Cap. 50 that Final Meeting of Members of the abovenamed Company will be held at 371 Beach Road #16-09, Key point, Singapore *****7 on 14 February 2002 at 9.00 a.m. for
      78 words
    • 369 3 IN THE MATTER Of THE COMPANIES ACT. CAP 50 AND IN THE MATTER Of •LUi BOX TOY FACTORY PTE LTD (In Voluntary liquidation) SHAREHOLDERS' VOLUNTARY WINDINGUP At on Extraordinary Ganarol Maatma of tha shorahoidors of SLUE BOX TOY FACTORY PTE LTD duty convanad ond hald at 371 ImJ jlAftQ y-nnniid
      369 words



  • 3209 6 UNIT TRUSTS FUNDS AM Amro Asset Mgt (S'porc) Star Europe Eqty! A 0 832/ Star Europe Bd 0996/ Star Europe Bal 0 906/ Star Asian Tiger Eqty 0 80® Star Asia Bond 1.234/ Star Asia Balanced 0 869* Star Global Technology Fund 0.341/ Star Bhv Finance Japan Fund!** 0.789/ AM
    3,209 words

  • 6767 7 Transaction date: Jan 11 for live prices, log on to wwu \asiaonemarketsjcom SI-Wli Lmt Vol Day Latt Quote G>SI« GrVM MM MCja MIA>| MMl law ClMpiey Sate rOOO) >«*» Cw P« V»* Wo 9 6 ABNAmroNLG56c 9 m.. 4 3.4 1M 22.5 8.5 c ACEDynamics20c 16 unch 16
    6,767 words
  • 58 7 Iff J5J. Oft I1QWM Gftt* Mr SftW MM MCja WtAny I—' Ciwpip S*» «v- raw W» l— —rm i+m Cm M >3 SS ***** 9B10 s Diamonds US9900cd 6890 3830 s ISDJ US Tettl US MOO 57J0 555 440 s IS MSO Spore US450 ***** 9670 s ISS4PS00
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  • 1621 7 M* l* Vol Dt, LMOaM GrfM* Bkr frVM MM HCm WtAf I— Clin Ml W- rw 10m Bur W» Cw Hi tJ Ma 36 12 c ABRMklgs5c 195 -I S 22S 21 195 19.5 20.5 5 IS 13 5.7 376 X 40 5 12 c AP Oil Sc
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  • 390 7 52-Wk LMt Vd Day fHWH OfOK Mo SrVW M MCaa Hit* la» C»«p»Y Hah w- W W» Law 8ayr Utm Cm m >J 110 60 AVJ#nn*ngs A2Sc A 81 -2 8 81 »1 81 40 3.4 123 4.7 174.3 Cathay Pac 20c HK 720 265 2.1 7.4 C
    390 words

  • week in review
    • 993 8 For the full stories, visit http://business-times.asial.com.sg N Asia funds, 'panic' buying power STI rally Jan 11 INVESTORS returned in force on Thursday after profit-taking snapped the Singapore stock market's winning streak the day before. Dealers said growing macro-economic optimism fuelled demand for blue chips, and the
      FILE PHOTO  -  993 words
    • 270 8 Editorial Jan 11 Restructuring while recovering WHILE there is a reasonable chance of a largely cyclical recovery this year, Singapore should not make the mistake of deferring the restructuring of its economy or even slow down such plans. For the economic downturn has highlighted a number of
      270 words
  • 2884 8 Transaction date: Jan 11 KUALA LUMPUR Va4 DM *1- COW) A4M Realty 109 -010 200 Abric _„2.16 -010 452 ACP Industries 3.12 -0 16 48 Advance Synergy 0.63 -0.03 208 Affin Holdings 0.31 0 01 145 AhmadZakiRes 4.10 0 06 22 AlCCorp .5.10 unch 32 AikbeeRes 2 06 -0
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  • 791 8 Transaction date: Jan 11 Stt&mmm 1 Oaaa a»|i Mat* —> m Oaaa Q>n|i C6C 0 32 iJOO NMStad 50c O il 1.000 *Oj010 CapttaLand 1.62 1.990 *0030 OCBC 9 02 11.700 Chart SamCond 26c 2 01 5.250 -0300 Out 051 6 950 <0400 City Deo 50c 2 49 4
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  • 722 8 BONDS WARRANTS Mm l*rkr LM Vol Coav turn Mk 1Mb r»f Mt —r- fMjjjh Met Smrimt Uft AST1W*****1 JB 4 333 1 16 2 1 34 29 Aon* Ltd VMM 111C 4 -0 5 141 1 SO 414 2j6Ji 34 AmtekW*****0 38 -05 89 1 33 8 1,72 41 Armstrong
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  • in the money
    • 963 9  -  Citibank survey finds affluent risk averse and not knowledgeable about their investment options By Quak Hiang Whai SINGAPORE prides itself on being one of the world's premier fin a n c i a 1 centres. But are Singaporeans themselves savvy enough with their own
      963 words
    • 734 9  -  INVESTOR EDUCATION By Joseph Lim The writer is an associate professor, Dept of Finance and Accounting, National University of Singapore, and a committee member of Securities Investors Association of Singapore. The views expressed in this article are his own. GIVEN that so many investors have
      FILE PHOTO  -  734 words
    • 549 9  -  They made 34 upgrades, 19 downgrades; Advanced Systems, Comfort, Creative among 'buys' By Patrick Peck The writer is a vice-president at Paris-based JCF Group THE year started well for the Strait Times Index as it climbs towards 1700 points. Not surprisingly, the 53 recommendations
      549 words
  • 1829 9 for week beginning Jan 7 Net Mrn EPS DM TY I* TT I* C»»M«y ana (Sm) (Sm) (eti) (ctt) Addvalue Tech 13-0c( I 0.057 0438 0.01 0.12 Asatravel.com 1*Dec P 1.177 1894 0.87 1.39 Boustead Spore 27 Dec I 5.404L 1 3861 2.921 0.77L Bnlliant Mfg
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  • what's in style art
    • 858 10  -  Walasse Ting's art carries shades of his flamboyant personality, PARVATHINAYAR reckons PARVATHI NAYAR THE artwork in the Walasse Ting show Spring Drink, Flowers Giggling totals close to a staggering US$2.5 million a pretty risky sort of exhibition to stage in these times? But perhaps the banking rule you
      858 words
    • 414 10  -  A photography exhibition captures life after fall of Berlin Wall By Cheah Ui-Hoon ONCE a mighty symbol, the Berlin Wall is now but a distant memory to most, more so to Asians who might not have understood its impact and influence in Western Europe when it
      414 words
  • Article, Illustration
    1260 10 Transaction date: Jan 11 DTTERBAMM CROSS KATES C$ *mb Euro Fir D« HK$ Ind ts frpiah Von Won HI Ughth Pw S$ tend Sfr MTS Baht Pound USS Australia 0.835 4.334 0.586 3.841 1.145 4.073 25.273 54.465 0.691 6.827 1.985 1226 31.379 26.760 0.963 6.083 0.868 18.300 22.997 0.362
    1,260 words
  • Page 10 Miscellaneous
    • 208 10 CRYPTIC CROSSWORD 1 Quick to lose one's temper? 2 Nice to find a hire-car within H ■■"■■l (6) reasonable distance (8) 4 Hazard found in French 3 back to have a 9|| j j j j 9 Pnest and I examine some 5 No upset by this 10 Yearns to
      208 words

  • what's in style travel
    • 1261 11  -  SYLVIA TAN travels to London's food world to find out why some new foreign restaurants are creating a real buzz SYLVIA TAN T. HERE has been a foreign invasion of London lately no, nothing to do with religious extremist cells detected in the post 9/11.
      1,261 words
  • 5519 11 i Transaction date: Jan 11 for more, go to unmuasiaxmenmarketsxxmi HONG KONG Vol HKS HO AcrossAsia Multimedia 0.34 imch 0 AJpha General .0.04 unch ***** AmOyProp ..8.70 -015 3471 Ananda Wing On .0.05 unch ***** Angaria N«w Steel H 0.97 unch 5876 Anfiui Conch H _1 89 0.02
    5,519 words

  • motoring
    • 877 12  -  CHRISTOPHER TAN drives the Nissan X-Trail to see why so many are swayed by the unassuming SUV CHRISTOPHER TAN IT is not difficult to see why Nissan's newly launched X-Trail has become Japan's top-selling sport-utility vehicle overnight. It's smartlooking, it's innovatively versatile, it's amazingly roomy
      877 words
    • BRAVE NEW WHIRL
      • 145 12 THE new Range Rover to be positioned as "the world's best car" goes on sale a month from now (Feb 15) in the UK. The third make-over of a product that spans more than 30 years, the new car features a monocoque body with integrated chassis, and
        145 words
      • 78 12 THE long-wheelbase version of Mercedes' A-class is here. The car is 17 cm longer, with the extra length benefiting mainly the rear passengers. Luggage space has also improved. Overall, expect 11 percent more space in the cabin. The car will be retailed at around $7,000 more
        78 words
      • 72 12 PORSCHE has given official green light for the Carrera GT supercar. Only 1,000 units of this 330+kmh car will be built all left-hand drive. Market launch is planned for the second half of 2003. The car will have a 5.5-litre VlO engine producing 558 horsepower
        72 words
      • 95 12  -  Compiled by Christopher Tan 2002's face-lifted BMW 3-series is now available. The popular 318iA now comes with a two-litre four-cylinder engine producing 143 horsepower and 200 newton-metre of torque. O-lOOkmh stands at 10.2 seconds and top speed at 214 kmh. Despite the bigger engine displacement, fuel consumption
        95 words
    • Article, Illustration
      470 12  -  Suzuki takes the compact game higher with a class beater By Christopher Tan ENTRY-LEVEL car shoppers who've never considered a Suzuki should do themselves a huge favour by test-driving the Liana. There, my most straightforward introduction to a car review since I started writing them more than 10
      470 words

  • what's in style food
    • 1894 13  -  With choices aplenty at seafood specialist shops and farms here, all one needs is recipes to tuck in. CHEAH UI-HOON takes a look CHEAH UI-HOON IT was his first shipment of snow crabs from Western Australia to Singapore. Jtwas her first time them. To mark Loy Niap
      CHRIS LOH  -  1,894 words
    • 187 13 TIPS for picking and keeping seafood fresh, from chef Alex Chew of Ah Hoi's Kitchen: ♦When cooking with live fish, all you need is to steam or barbecue it. Minimal sauces or gravy if necessary ♦Have a feel of the weight of the crab to check that it's
      187 words
  • Page 13 Advertisements
    • 434 13 wine&dine with weekendßT Cafa D'Amigo Orand Plaza Hotel Mandarin Singapore Raffia* Marina #0238 Specialist Shopping Centre. Tel: 835 0238 10 Coleman Street. Tel: 432 5567 333 Orchard Road. Tel: *****11 10 Tuas West Drive. Tel: *****88 Well known for its value-for-money Tango to the sunny flavours of Spanish cuisine Dine
      434 words

  • what's in style
    • 1153 14  -  When the going gets tough, the tough go all out CORINNE KERK finds retailers employing all manner of pomp and pageantry in a bid to win customers all in the name of brand-building CORINNE KERK TIMES may be bad, but as they say, the show
      1,153 words
    • 967 14  -  The Parisian jeweller opens a new store in Singapore. CORINNE KERK reports CORINNE KERK IT'S all good and very well to be Iridependent. to be linked with royalty and to be very- successful at home. But it doesn't take long, even for old, established jewellers, to know
      ARTHUR LEE  -  967 words
    • 990 15 A question of space or too much of it NEW YORK Fashion giants are opening huge new retail emporiums in Manhattan at what could be the worst possible time Reuters IN the commercial high-rent districts of Manhattan, upscale fashion retailers fueled by emotion and positive economic data from three years
      Reuters  -  990 words