The Business Times, 9 August 2006
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2006-08-09
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The Business Times
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Title Section16 2006-08-09 1 THE BUSINESS TIMES w SINGAPORE 85 cents online at .com.sg MICA (P) 099/03/2006 Wednesday, August 9,200616 words
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748 2006-08-09 1 ANNA TEO - Singapore economy grew a robust 9.4% in first six months By ANNA TEO [SINGAPORE] The government has for the third time this year raised its economic growth forecast for 2006, following a highly robust first half. Prime Minister Lee Hsien Loong said in748 words
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Article135 2006-08-09 1 sn 2,465.04 (44.79) ST INDEX FUTURES 2449.00 (+14.00) siMsa 293.76 (+020) SIMSa FUTURES 291.80 (+0.60) MARKETS Tuesday Change KISECOMP 939.06 *0.60 NtKKEI 225 15.464.66 +310.60 HANG SENG 17,048 20 +94.65 SET INDEX 711.80 +6.45 JAKARTA COMP 1,396.06 -7.41 MANILA COMP 2,367.75 -10.88 SEOUL COMP 1,311.10 +21.56 SHENZHEN B135 words
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Article, Illustration246 2006-08-09 1 [SINGAPORE] The Singapore Fireworks Festival has returned to Marina Bay this year bigger and brighter. The festival opened last Saturday, with the skies above the bay lit up by a show from Team Italy. The display, on the theme of "Dynamic City", drew an enthusiastic response. OnST - 246 words
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Page 1 Advertisements
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Advertisement187 2006-08-09 1 ■■MfcPCEIVEO^CX STOCKS SGX to close ASX trading link page 2 I chaiges in structured |deposits M 6532 RECHARGING SINGAPORE Rebrand, remake, retrain page t3 banking is >. v***'••• m*- fc 33$ Hie Singaporeans to watch PAGE 19 s I** Y m LATEST ON US INTEREST RATES Go to http://business-tiines.asial .com.sg187 words
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TOP STORIES
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751 2006-08-09 2 ANGELA TAN - Co-trading link with ASX falls victim to persistently low demand By ANGELA TAN [SINGAPORE] The only functioning trading link between the Singapore Exchange and another stock market SGX's little-used securities co-trad-ing link with the Australia Stock Exchange (ASX) is to be discontinued at751 words
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581 2006-08-09 2 S JAYASANKARAN - Group, controlled by M'sian PM's son, in political limelight By S JAYASANKARAN jn Kuala Lumpur OIL and gas firm Scomi Group th 6 Malaysian 1 premier's son's vehicle that has come under political scrutiny in the country may list one of581 words
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Article, Illustration647 2006-08-09 2 CONRAD RAJ - By CONRAD RAJ [{SINGAPORE] Shipping -Companies can breathe a sigh of relief and expect lower insurance rates now ;that London's insurance market has removed the controversial war-risk rating for merchant vessels us- ing the busy Strait of Malac- paReuters quoted Neil647 words
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Article673 2006-08-09 2 Consumer spending could get $2b boost THE proposed liberalisation of the unsecured credit market could stimulate consumer spending and increase bank lending to consumers by $2 billion, Citigroup said yesterday. Under proposed new rules, banks will be able to lend unsecured credit to people earning as little as673 words
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Article67 2006-08-09 2 IN "Banks poised for slice of moneylenders' pie" (BT, Aug 8), we said that for people earning less than $20,000 a year, the credit limit will be capped at twice the monthly income and that banks will not be able to issue them credit cards. The statement actually applies67 words
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533 2006-08-09 3 SIOW LI SEN - Citigroup analysts see relaxed credit rules stimulating spending By SIOW LI SEN [SINGAPORE] The proposed liberalisation of the unsecured credit market could stimulate consumer spending and increase bank lending to consumers by $2 billion, Citigroup said yesterday. Under proposed new rules, banks will be533 words
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Article, Illustration843 2006-08-09 3 LESLIE YEE, CONRAD TAN - Lenders taking cautious approach to interest rates By LESLIE YEE, CONRAD TAN [SINGAPORE] Despite the recent upswing in the property market, owner-occupi-ers rather than investors continue to account for the bulk of new home loan applications here, according to major mortgage843 words
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Page 2 Advertisements
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Advertisement40 2006-08-09 2 neonle Hunting season K H has begun (Target: Private Bankers) v.v.".'. t u ep*#op t-jV.vork con' Asia-Pacific Executive Search HOT IPO Attract more interest from investors. Place your IPO notice in our newspapers. Call 1800 289 8822 or email notices@sph.com.sg.40 words
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Page 3 Advertisements
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Advertisement37 2006-08-09 3 PROPERTY HOSPITALITY FINANCIAL SERVICES I 1% /T#l I #1 Capita Land CapffaLand CawtaLand CapgaLand A&* Capita Land Capita Mall CMaCopercial A s )n -'"""Commercial Retail ILEC ASCOTT Financial Trust Trust ia«ii www.capitaland.com (|)AUSTRALAND HOLDINGS BUILDING FOR PEOPLE37 words
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COMPANY NEWS
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Article, Illustration619 2006-08-09 4 SIOW LI SEN - Double-digit revenue growth for all its four lines of business By SIOW LI SEN $TARHUB Ltd yesterday posted better-than-expec-ted second-quarter net profit of $75.7 million, up 44 per cent on strong customer growth for all its businesses. The company, the secondREUTERS - 619 words
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416 2006-08-09 4 MICHELLE QUAH - By MICHELLE QUAH TROUBLED e-waste recy- cler Citiraya Industries yesterday overcame a major hurdle to its revival by securing the approval of its 1 creditors for a restructuring f>lan. Creditors representing more than 98 per cent of the amount of claims voted416 words
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653 2006-08-09 4 VEN SREENIVASAN - HOCK LOCK SIEW By VEN SREENIVASAN IS LOW-PROFILE Vita Holdings steaming towards becoming an energy play? Last month, Vita which was listed on Sesdaq in January last year proposed taking a 51 per cent stake in privately held JL Chancellor (JLC)653 words
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Article, Illustration289 2006-08-09 4 WEE LI-EN - By WEE LI-EN THE much-anticipated trial of two former top executives of Informatics, which was scheduled for yesterday, has been postponed to Aug 29. BT understands that Informatics founder and former chairman Wong Tai had indicated that he may plead guilty. The Subordinate CourtsFILE PHOTO - 289 words
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514 2006-08-09 4 SINGAPORE Telecom and Vodafone are reported to have expressed interest in buying a 30 per cent stake in Taiwan Mobile from Taiwan Fixed Network, tfie Economic Daily News said yesterday, quoting an anonymous source. The acquisition would amount to 1.485 billion shares in514 words
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Article, Illustration419 2006-08-09 4 RUCHIKA TULSHYAN - By RUCHIKA TULSHYAN COSMETIC and skincare product brand manager Beauty China yesterday reported a 30.4 per cent jump in net profit to HK526.7 million (555.4 million) for its second quarter ended June 30. The China-based company also warned that soaring oil pricesFILE PHOTO - 419 words
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Article, Illustration533 2006-08-09 5 MATTHEW PHAN - Fall in earnings attributed to exceptional gains of $11.6 m last year By MATTHEW PHAN HYFLUX, which provides membrane-based solutions for water-treatment and other systems, nearly doubled second-quarter revenues year-on-year to $37.5 million, thanks to vigorous industrial sales. But its net profitsFILE PHOTO - 533 words
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287 2006-08-09 5 KOH Brothers yesterday posted a 33 per cent increase in first-half net profit to $1.3 million. Operating profit improved 32 per cent to $5 million for the six months ended June 30, from $3.8 million in the corresponding period last year.287 words
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416 2006-08-09 5 Bloomberg [SINGAPORE] Creative Technology Ltd, fighting a losing battle with Apple Computer Inc's iPod music players, may report a fourth-quarter loss after prices declined, contributing to the company's worst annual earnings in five years. The Singapore-based company may say its net lossBloomberg - 416 words
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COMPANY BRIEFS
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59 2006-08-09 5 INTEGRA2OOO Ltd's chairman and CEO Kwok Kah Kie a target of an ouster bid by a group of disgruntled shareholders —yesterday exercised 12.49 million bonus warrants, for the corresponding number of shares in the company. He now owns 20.6 million shares in integra2ooo, or 15.03 per59 words
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46 2006-08-09 5 DRINKS maker Yeo Hiap Seng saw a net loss of $120,000 for the second quarter ended June 30. This compares with a net profit of $864,000 in the previous corresponding period. Revenues grew 2 per cent to $93.3 million.46 words
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33 2006-08-09 5 ADVANCED Holdings said a substantial institutional shareholder, Lloyd George Investment Management (Bermuda), has reduced its deemed stake in the company from 9.14 per cent to 7.84 per cent33 words
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Article60 2006-08-09 5 IPC Corporation saw revenues more than halve for the first half 0f2006 to $12.6 million, while net profits fell from $2.2 million to a net loss of $4,00 p. This was due to a 61.9 per cent drop in property revenues, and an60 words
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27 2006-08-09 5 ELECTRONICS motor maker Lindeteves-Jacoberg saw Q2 net losses more than double to $55.1 million, as revenues dipped 2 per cent to $62.2 million.27 words
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Article37 2006-08-09 5 I'M Technologies turned in IHO6 net profits of $1 million, compared to losses of $2 million for the same period last year. Revenues increased 4.1 per cent to $18 million.37 words
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204 2006-08-09 5 KALPANA RASHIWALA - By KALPANA RASHIWALA OVERSEAS Union Enterprise (DUE), now controlled by a Lippo-Ananda Krishnan consortium, has divested its entire 18.3 per cent stake in listed Hotel Negara bf accepting UOL Group's mandatory cash offer for the company. The offer closes at 3.30 pm on204 words
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373 2006-08-09 5 RUCHIKA TULSHYAN - By RUCHIKA TULSHYAN DESPITE, an 11 per cent rise in revenue to $45.53 million, Super Coffeemix Manufacturing suffered a 29 per cent year-on-year fall in net profit to $3.57 million for its second quarter ended June 30. Besides being hit by higher raw material373 words
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Page 5 Advertisements
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Advertisement125 2006-08-09 5 Diners Club Card World of Exclusive Privileges Diners Club wufuxdiners.com. eg InternahonaT BIRD'S EYE VIEW OF TENDER JOBS Check out the most comprehensive collection of tender notices in CATS Notices in The Straits Times. notices I W&F* f\ m Bistro 21 PStlt• NOUIIISS The BHi Noodle Shop MHI BTONEORILL Mlllenla125 words
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Advertisement107 2006-08-09 5 irmnrtn 24 borong Mambong (Holland VMage) 7M 6467 4101 57 Boat Quay W: 6533 0412 Exclusively for Diners Club Cardmembers: 1-for-l main court# for lunch 20% off total bill for dlnnar (On tooC o*y ViMW from Monday* to frtdtyt) Tkw ftMM— Promotions valid until 31 October MM Ww metaphor i—i107 words
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Advertisement7 2006-08-09 5 ChooM on* item from our satecttoMC M7 words
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SINGAPORE MARKETS
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Article, Illustration853 2006-08-09 6 LARRY WEE - CURRENCIES Call to sell the greenback on rallies gets louder this week LARRY WEE Senior Correspondent ijn M E START this column H m where we left it a m V m week ago, by saying m M m that the853 words
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Article, Illustration1021 2006-08-09 6 SUBSTANTIAL SHAREHOLDER/DIRECTOR TRANSACTIONS (Disclosures made on Aug 8 and earlier) Subsantial No of Price SHAREHOLDING Trans Shareholder/ BuyI Shares Per More After Stock Pate Director Sell '000 Shr$ COOP) (000) Integra 2000 8-Aug-06 Kwok Kah Kie OE ***** 0.08 8128 5.93 ***** 15.03 Boustead S'pore 7-Aug-06 Wong1,021 words
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Article279 2006-08-09 6 MATTHEW PHAN - Compiled by MATTHEW PHAN China Milk August 8 dose: $1.02 DBS VtCKERS SECURFTIES, August 8 IQO7 results exceeded our expecta- tions. Net profit grew 58.1 per cent year-on-year to 88.6 million yuan ($17.5 million), underpinned by a strong revenue growth of 37.1 per cent year-on-year to 93.5 million yuan,279 words
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Article, Illustration421 2006-08-09 6 TEH HOOI LING - STOCKS TEH HOOI LING Senior Correspondent MARKET participants yesterday steered clear of any big bets that they might have, adopting a cautious stance ahead of Singapore's National Day holiday and the US Federal Open Market Committee meeting. However, there was selective buying of stocks,421 words
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Article, Illustration218 2006-08-09 6 YEO KEE YAN - CHART POINT By YEO KEE YAN, chartist at Kelive Research CORPORATE earnings took centre stage last week as the reporting season picked up pace. Reflecting the nervous mood and short-term trading stance of many investors, the market reaction was mainly confined to "buy in anticipation,218 words
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SINGAPORE NEWS
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756 2006-08-09 7 CHEW XIANG - CELEBRATING NATIONAL DAY They will be awarded the Order of Nila Utama (First Class) By CHEW XIANG FINANCE Ministry permanent secretary Lim Siong Guan and A Star chairman Philip Yeo, two visionaries with illustrious track records, have bagged the nation's highest756 words
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Article, Illustration78 2006-08-09 7 JONATHAN Larsen, Citibank Singapore's chief executive (centre in white), and Anil Wadhwani. its head of retail banking (in pink), leading a team ofCitibankers to mark Singapore's 41st birthday. While Citibank has a 104-year history in Singapore, the consumer bank was locally incorporated just two yearsYEN MENG JIIN - 78 words
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259 2006-08-09 7 WEE LI-EN - By WEE LI-EN UNITED Overseas Bank is marking National Day by introducing a multi-term fixed-deposit bundle with competitive interest rates. The bank is offering a special annual rate of 3.488 per cent to customers putting at least $25,000 in a three-month Singapore dollar259 words
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586 2006-08-09 7 RONNIE LIM - Move allows build-up of LNG demand By RONNIE LIM SINGAPORE intends to impose a moratorium or cap on pipeline gas imports and get its power stations to shift towards using liquefied natural gas (LNG) to assure base-load for the planned US$5OO million LNG receiving586 words
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SINGAPORE ROUNDUP
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59 2006-08-09 7 IN celebration of Singapore's 41st National Day and the country's ties with Ho Chi Minh City, Vietnam, Saigon Sports City has contributed US$l5,OOO towards the education of needy young people there. Saigon Sports City is Keppel Land's township project in Ho Chi Minh City, which59 words
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Article, Illustration38 2006-08-09 7 DLA Piper Rudnick Gray Cary has appointed former Motorola Singapore president Jeffery Tan (right) as a partner to manage and develop the legal firm's corporate and technology practice in South-east Asia.38 words
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Page 7 Advertisements
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Advertisement1925 2006-08-09 7 POPULAR HOLDINGS LIMITED I jßjg (Incorporated in' the Singapore) I (Registration No. *****7187 M) I NOTICE OF ANNUAL GENERAL MEETING I NOTICE IS HEREBY GIVEN that the Annual General Maating of tha Company will ba held at fl 20 CHd Toh Tuck Road, Singapore *****5 on Friday 25 August 20061,925 words
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ECONOMY WATCH
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Article, Illustration1111 2006-08-09 8 US economy might already be headed for slowdown steeper than Fed wants Bloomberg [WASHINGTON] Federal Reserve chairman Ben Bernanke may have waited too long to step off what he's called the "escalator" of steadily rising interest rates. While MrBloomberg; AP - 1,111 words
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Article, Illustration558 2006-08-09 8 They include India Brazil blamed for WTO talks failure Reuters [WASHINGTON] The United States will review whether to withdraw longtime trade benefits for India, Brazil and 11 other advanced developing countries, US trade officials said on Monday. The decision followsReuters; AFP - 558 words
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216 2006-08-09 8 Bernama [KUALA LUMPUR] Bank Negara Malaysia governor Zeti Akhtar Aziz said yesterday even though inflation has peaked, Malaysia will continue to see steady growth in the second half of this year. "Certainly, we want to see steady solid growth continue in theBernama - 216 words
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441 2006-08-09 8 Reuters [JAKARTA] Indonesia cut its key interest rate by a half a percentage point to 11.75 per cent yesterday, the third reduction this year, after annual inflation fell to a 10-month low. Ten of 18 analysts polled by Reuters lastReuters - 441 words
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Page 8 Advertisements
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MALAYSIA/INDONESIA
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Article, Illustration582 2006-08-09 9 PAULINE NG - M'sian population not big enough for two train companies, he says By PAULINE NG in Kuala Lumpur FORMER Malaysian prime minister Mahathir Mohamad has poured cold water on the current administration's plan for a possible bullet train linking Kuala Lumpur to Singapore. HeFILE PHOTO - 582 words
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417 2006-08-09 9 [JAKARTA] The Supreme Audit Agency (BPK) has urged the Finance Ministry to revoke the business licenses of a number of accounting and appraisal firms due to malpractice and misrepresentation, the Jakarta Post said yesterday. "We have reported these accounting and appraisal firms to417 words
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251 2006-08-09 9 Bloomberg [JAKARTA] Indonesia will overtake Vietnam as the country with the most bird flu deaths among humans worldwide if tests show a 16-year-old boy was the country's 43rd fatality from the disease. The youth, who was positive for the HSNI avian influenza strain inBloomberg - 251 words
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Article, Illustration501 2006-08-09 9 He's unhappy with firm's plan to sell new shares: report [KUALA LUMPUR] Syed Mohd Yusof Syed Nasir, a substantial shareholder of Landmarks Bhd, is unhappy with the firm's plan to sell new shares, and is likely to announce his bid for the propertyBLOOMBERG - 501 words
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BRIEFLY ASIA
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36 2006-08-09 9 Bernama [KUALA LUMPUR] The Asean-India Free Trade Agreement (FTA) is still on as the leaders of the respective countries have committed to the negotiations, Asean secretary-general Ong Keng Yong, said yesterday.Bernama - 36 words
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76 2006-08-09 9 Reuters [BEIJING] The Ministry of Commerce has published draft rules that would allow foreign firms to invest in China via share swaps but would tighten acquisition criteria to protect China's economic security. For the first time, the new rules would require a Chinese company that hasReuters - 76 words
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33 2006-08-09 9 Reuters [NEW DELHI] India has no immediate plans to raise foreign investment limit in insurance, telecommunication and civil aviation, a junior finance minister said yesterday. —ReutersReuters - 33 words
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39 2006-08-09 9 Reuters [KOLKATA] India's Tata Tea Ltd expects its consolidated annual turnover to rise to 70 billion rupees (552.4 billion) in three years from 31 billion rupees in the fiscal year ended March 2006.Reuters - 39 words
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36 2006-08-09 9 Reuters [SHANGHAI] A senior executive at Shanghai Electric Group Co Ltd is under criminal investigation after reports of alleged abuse of government funds prompted a suspension of the firm's shares.Reuters - 36 words
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Article2134 2006-08-09 9 VOl General C«p .O.St -0.01 105 *>• rm Gentmg 2440 030 630 Geora»Kant 0.47 -0.02 36 AIM Realty 1.45 unch 3 G HI Systems 031 unch 772 033 imh 3 Gtobetroma Tech 0.30 unch 223 ACPIncfcatnes 045 -0.02 115 Gtomaclhd 1 If 0.01 67 A*ance Synergy 030 -0.012,134 words
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GREATER CHINA/INDIA
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535 2006-08-09 10 Analysts say group could spin off about a third of its hotel assets into the Reit Reuters [SINGAPORE] Hong Kong developer Cheung Kong (Holdings) may list a property trust in the territory for some of its HK$lB billion (553.6 billion) inReuters - 535 words
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212 2006-08-09 10 Reuters [HONG KONG] Far East Consortium International Ltd said yesterday that it was "exploring the possibility" of selling some of its hotel properties to a unit trust, but had made no application for a listing. Far East Consortium made the announcement after a HongReuters - 212 words
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310 2006-08-09 10 Bloomberg [NEW DELHI] India's life insurance industry is expected to maintain 20 per cent growth a year, driven by an expanding middle class and rising incomes, said Standard Poor's. "Improving economic conditions, growing affluence, the need for health protection and low penetrationBloomberg - 310 words
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488 2006-08-09 10 While government upgrades airports, quality hotels in cities trail demand Bloomberg [NEW DELHI] India is trying to create land banks that can be used to build more hotels to meet traveller demand and raise its share in global tourism. India hasBloomberg - 488 words
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Article, Illustration34 2006-08-09 10 AP PREGNANT mothers showing cartoon figures on their bellies during a contest of coloured drawings for expectant mothers at a hospital in Haikou. capital of south China's Hainan province, yesterday. —AP XINHUA/APAP; XINHUA/AP - 34 words
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Article, Illustration647 2006-08-09 10 NEWS ANALYSIS Reuters [HONG KONG] A surge in domestic Chinese stock listings threatens to steal fees from global investment banks still locked out from mainland initial public offerings (IPOs). JPMorgan predicts Ashare listings will raise about US$lO billion this year, which at underwriting feesReuters; REUTERS - 647 words
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345 2006-08-09 10 Bloomberg [NEW DELHI] Starbucks Corp, the world's biggest coffeeshop chain, says it is looking for a venture partner or a licensee to enter India by the end of next year as coffee consumption rises in the nation of more than a billionBloomberg - 345 words
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Page 10 Advertisements
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Advertisement25 2006-08-09 10 Lianhe Zaobao I New I I scheme I I allows I I businesses I Ito buy I I poultry I insurance ISH+OJT I I I25 words
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ASIA-PACIFIC/WORLD
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Article, Illustration834 2006-08-09 11 16 anomalies in 12 locations after inspection of 40% of pipeline system Washington Post [WASHINGTON] After noticing an oil spill on a deserted stretch of frozen road in Alaska's North Slope in early March, workers needed three days to find the quarter-inch wide hole inWashington Post; AP - 834 words
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Article, Illustration573 2006-08-09 11 Cox News Service [SAN FRANCISCO] Apple Computer ratcheted up its renewed rivalry with Microsoft Corp and PC makers on Monday, announcing two new computers that complete its transition to industry-standard Intel Corp chips and showing off slick new features of its nextCox News Service - 573 words
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Article347 2006-08-09 11 ANTHONY ROWLEY - By ANTHONY ROWLEY in Tokyo IN one of the strongest indicators so far that Japan's economic recovery is likely to strengthen, the Bank of Japan (BOJ) revealed yesterday that bank lending in July rose at its fastest annual rate in five years. A surge in347 words
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WORLD WATCH
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86 2006-08-09 11 Reuters [WASHINGTON] The US Securities and Exchange Commission (SEC) on Monday decided appealing a court decision nullifying a rule that requires advisers of most US hedge funds to register with it, and said it plans to move quickly on other options to regulate theReuters - 86 words
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Article96 2006-08-09 11 AP [WASHINGTON] Media personality Martha Stewart will pay about U*****,000 and cannot serve as the director of a public company for five years under a settlement announced on Monday on civil insider trading charges with the Securities and Exchange Commission. Under the settlement, she agreedAP - 96 words
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57 2006-08-09 11 LAT-WP [LOS ANGELES] Starbucks, which has already entered the entertainmentmarketing world with the sale of special-edition CDs. is now getting into book sales. In its first such > in-store campaign, slated to begin on Oct 3, the company plans to sell copies of Mitch Albom'sLAT-WP - 57 words
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65 2006-08-09 11 ATT [NEW YORK] AOL removed a list of the Web search inquiries 0f658,000 unnamed users from a public website over the weekend, after bloggers complained that the h information was so detailed and personal that it could compromise the users' privacy. AOL said theATT - 65 words
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300 2006-08-09 11 LATEST US DATA Bloomberg [WASHINGTON! American workers' productivity growth slowed and labour costs rose at the fastest pace since the end of 2004, suggesting rising wages may exacerbate a pickup in inflation. Productivity, a measure of how much an employee produces forBloomberg - 300 words
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469 2006-08-09 11 LAT-WP [SAN FRANCISCO] Two of the biggest names on the Internet struck a nearly billion-dollar deal on Monday to combine Google's search and advertising technology with the massive online audience of News Corp's MySpace. The agreement, worth at least US$9OO million toLAT-WP - 469 words
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Page 11 Advertisements
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AVIATION
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Article, Illustration751 2006-08-09 12 Airline pledges to buy back shares at prices above IPO if necessary Reuters [SHANGHAI] Air China yesterday slashed the size of its initial public offer in Shanghai by nearly 40 per cent because of poor demand a bad omen for a hostReuters; REUTHRS - 751 words
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453 2006-08-09 12 Bloomberg [SEOULJ Asiana Airlines Ltd, South Korea's secondlargest carrier, posted a second-quarter profit compared with a loss a year earlier, helped by a stronger won and more passengers. The shares fell on concerns the currency will Aveaken. Net income in theBloomberg - 453 words
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LOG BOOK
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Article81 2006-08-09 12 Reuters [SYDNEY] Qantas Airways Ltd. Australia's biggest airline, said yesterday its top two executives had extended their contracts amid tough operating conditions caused by high fuel prices and more competition. Chief executive Geoff Dixon and chief financial officer Peter Gregg had both agreed to remainReuters - 81 words
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77 2006-08-09 12 Reuters [HELSINKI] Finnish airline Finnair reported a fall in second-quarter profits yesterday, burdened by high fuel costs, and said it also expects a drop in profits for the full year. Finnair said it had hedged 60 per cent of fts fuel consumption forReuters - 77 words
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77 2006-08-09 12 AP [FRANKFURT] Fraport AG, which operates airports in Europe and South America, said yesterday that increased flights in the second quarter helped offset weather-delays in the first quarter as it posted a 34-per cent gain in net profit in the first sixAP - 77 words
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47 2006-08-09 12 AFP [DHAKA] Thailand's national carrier Thai Airways will manage Bangladesh's second international airport in Chittagong from Sept 1, Thai Foreign Minister Kantathi Suphamongkhon said on Sunday. He was speaking to reporters after talks with Bangladeshi Foreign Minister M Morshed Khan. —AFPAFP - 47 words
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Article, Illustration576 2006-08-09 12 Thousands stranded; flights across US delayed AP [LOS ANGELES] A navigational system for one run r way failed at Los Angeles International Airport (LAX) on Monday, stranding thousands of passengers and delaying hundreds of flights across the US. Airport officials had to delay manyAP; REUTERS - 576 words
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Article751 2006-08-09 12 cm njsMT eta won m> soso2« 2215 sosa* 142s M. 6*155 1855 $154 11 12 S SSBBS ill 11 fli jH mm g|1 g|1 |jj| F jjj| jjl sjjiw. jjjjjj jjjj jjj§j lH 3«15 1555 IMS T1S4r-T555 TM4J 0635 !?If I<H!i 1215 RmSm CA957 6165 CA9M751 words
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Page 12 Miscellaneous
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Miscellaneous157 2006-08-09 12 CRYPTIC CROSSWORD —t Everyone's pa--26 Lie about Conservative lead--1 Error from clubs by top golfer 13 stu ffj n g (j$ w j t h hot reply, Across: 1 Streak, 4 Assassin, 9 As- Dossiblv (10) cend, 10 Axle-tree, 12 Bevy, 13 At no<^p*am?ninff^ 0n 16 Shaky United Nations' record157 words
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Page 13 Advertisements
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Advertisement853 2006-08-09 13 .dfißaUßtoi -^-ft fl^^. IL^fl ivvUHSHKK? ■Ii^HSI DIV Recharging B 11»B sin 9 a P° re I > SI&J ■■II |B|H SINGAPORE is sometimes described as mains relevant as an air hub. Changi nual meetings of the Boards of Cover- fl B# Sal f^^^y^ v a reluctant nation, thrust into nation-853 words
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RECHARGING SINGAPORE
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Article, Illustration1188 2006-08-09 14 WONG WEI KONG - In just four decades, Singapore has established a thriving financial centre of international repute, WONG WEI KONG charts its development WONG WEI KONG EARLIER this year, Singapore beat the rest of the world to take top honours as the No 1 "financial centre of *lheBLOOMBERG FILE PHOTO - 1,188 words
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Article, Illustration1198 2006-08-09 18 VEN SREENIVASAN - It has been a phenomenal 25-year success story for Singapore's airport. But will the accolades keep coming? VEN SREENIVASAN checks out the competition VEN SREENIVASAN >Cr lAS been exactly 25 years since a military at the eastern tip of Singapore was rebuilt into one of Asia's busiest airFILE PHOTOS - 1,198 words
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Article, Illustration1435 2006-08-09 18 CHUANG PECK MING - By CHUANG PECK MING THE key to rebranding Singapore as a vibrant and competitive city lies with its people specifically its workers. The success or failure of the efforts to reinvent Singapore rests on many factors. Trade and Industry Minister Lim Hng Kiang, who1,435 words
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Article, Illustration1207 2006-08-09 20 JEAN CHUA - JEAM CHUA looks at what's being done to market the island as a thriving convention centre and a truly unique tourist destination JEAN CHUA WHAT a year it has been. Over the past 12 months, Singaporeans were told they will be getting not one butAP - 1,207 words
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Article, Illustration1288 2006-08-09 20 MELISSA LWEE - By MELISSA LWEE FROM a near cultural backwater more than 20 years ago when the arts scene in Singapore was dominated mainly by amateur theatre groups fuelled by their passion rather than any thoughts of earning a living, Singapore is now seen as a1,288 words
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Advertisement27 2006-08-09 14 b mivr'Ul K I t a raWKBafIPP u 4 i HHHHIHIHHI k u V Hi flVTfl W L^^mH^HHHHHHH a ~,-*-< k R ,lobl Mm I Resourceful jfil ■pp^MHreroroa!^27 words
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TRAILBLAZERS
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Article, Illustration1354 2006-08-09 15 SUKI LOR - SUKI LOR profiles the patriarchs of Singapore's banking industry SUKI LOR RAFFLES Place may be the glistening steel and glass facade of Singapore's financial sector, but behind it are the handful of exceptional men whose entrepreneurial flair turned them into tycoons even as they became catalysts for theFILE PHOTOS - 1,354 words
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Advertisement196 2006-08-09 15 v ;•*v 1 <• vY- <*>V.» -> < > v-•'" >; -"".'V .> -< v A < 3 '<>•- Some- visionaries dream the impossible. The new S-Class was conceived this way. Y £x::'. -K- f •i'' ■> < ,> "+V > >J- <• •:*<• "J^ >^nv Slip behind the wheel196 words
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Advertisement19 2006-08-09 15 Stay ahead with business leadens. A series brought to you; by the new S-Class. i Mercedes-Benz v 1 ■!*'4-19 words
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Advertisement123 2006-08-09 16/17 It's Your World m Free your lifestyle. Experience the joy of video-on-demand entertainment through World broadband channels, 3G devices and now TV. Check it OUt on www.m2bwolid.com tirst Broadband TV brings entertainment on-demand into your J 1 O 40 on-demand channels ■Pi Chat with friends Justconnacito POOV Mf 1 OSendvkkomatts123 words
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FACES GOING PLACES
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Article, Illustration1262 2006-08-09 19 KAR-MEN CHENG - KAR-MEN CHENG meets five Singaporeans in the retail and property sector who are on a career high KAR-MEN CHENG NICHOLAS WONG 33 Fashion designer THE off-beat hairdo and chic black blazer over a funky tee-shirt with matching sneakers belie a shy and soft-spoken man. Even1,262 words
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Advertisement60 2006-08-09 19 LET YOUR DREAMS TAKE FLIGHT In 1976, three brothers had a vision to take their sofa-manufacturing venture to the world. 30 years later, HTL is one of the world's leading leather sofa manufacturers and tanners, recognised by Forbes magazine RZ777 HTL as one of the "Best under a Billion Company"60 words
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Advertisement28 2006-08-09 19 This is the first of a six-part series jointly brought to you by The Business Times and HTL International, as part of the two companies' 30th anniversary commemoration.28 words
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AVIATION/SHIPPING
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Article, Illustration617 2006-08-09 21 He gives new Indian carrier 18 months to two years to make a profit AFP [NEW DELHI] Bruce Ashby is an optimist, he has to be. The 45-year-old American has just launched a low-cost airline in India where most rivals are losing money, hitAFP; REUTERS - 617 words
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557 2006-08-09 21 GEORGE JOSEPH - Move recognises efforts by littoral states to rid Malacca Strait of piracy By GEORGE JOSEPH THE lifting of "war risk" premiums on insurance policies taken out by shipowners for vessels passing through the Strait of Malacca must come as most welcome news for557 words
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234 2006-08-09 21 Bloomberg [BANGKOK] Precious Shipping pel, Thailand's biggest sea-transportation company by market value, said profit fell 51 per cent in the second quarter as freight revenue declined and it paid more for marine fuel. Nft income fell to 768.6 millirffb bahtBloomberg - 234 words
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Article, Illustration66 2006-08-09 21 [KEY WEST. Florida] A pleasure boat heading into the harbour past a cruise ship docked here on Monday. Depending on what happens in the months following Cuban President Fidel Castro's death, this city could see a mass exodus of Cuban refugees making the 145 km ocean crossing.AP - 66 words
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280 2006-08-09 21 Reuters [LONDON] Strong global economic growth, rising steel prices and no let-up in buying from China pushed raw materials sea-freight prices to 14-month highs on Monday, defying analysts' predictions of a downturn. "Economic growth generally has been stronger than widely anticipated at the start ofReuters - 280 words
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PORT SHOTS
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46 2006-08-09 21 Bloomberg [NEW YORK] Overseas Shipholding Group, the largest US-based oil tanker owner, said second-quarter net income fell to US$6O.2 million from U*****.2 million a year earlier. Per-share net income fell to US$l.52 from US$2.B9 in the second quarter of 2005.Bloomberg - 46 words
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71 2006-08-09 21 Anderimar Shipping News [LONDON] The Canadian government is enhancing its marine pollution prevention programme by using dedicated flights over Canada's Arctic waters under Transport Canada's National Aerial Surveillance Programme to help protect those waters. These flights started on Aug 1 and will continue till Aug 17.Anderimar Shipping News - 71 words
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80 2006-08-09 21 Anderimar Shipping News [LONDON] Norwegian based shipping futures market International Maritime Exchange (Imarex) saw high volumes of trading in July. Managing director Tom Even Mortensen said: "Imarex performed exceptionally well in July." It reported US$556 million of transactions in July, up 136 per centAnderimar Shipping News - 80 words
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Article272 2006-08-09 21 S6x Aug! St Vol CHOHshor* .0.35 001 29 ChuanHup .0.32 -0.01 876 Casco Corporation 1.47 -0.02 4255 CWT Distribution .0.61 -0.01 14 EzraHldgi .2.52 0.02 1» Freight links 0.06 -0.01 269 Grand Banks Yadtt 0.92 unch 0 Java Holdings 1.36 unch 824 K1 Venture J03S -0.01 13S0 KeppelCorp272 words
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Advertisement39 2006-08-09 21 This week's Strait Talk column will be carried tomorrow I Get a Leading Edge M t Your sailing schedules get wider attention in The Business Times shipping pages Call Bernard Ong at 6319-1645 or Michael Chng at 6319-2062 jUSHfIHHHHHIHHUHHHI39 words
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EDITORIAL & OPINION
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Article556 2006-08-09 22 EDITORIAL OF late, the "R" word has been featuring with increasing frequency in discussions among observers of the US economy. While few are brave enough to suggest that a recession is nigh, there is a growing chorus to the effect that its probability556 words
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Article, Illustration938 2006-08-09 22 SEBASTIAN MALLABY - Brands' rising power has implications for public health, globalisation and the environment By SEBASTIAN MALLABY LAT-WP Motorola used to be a manufacturer of cellphones. Then it came up with its ultra-slim Razr handset and became a lifestyle company as well. AppleLAT-WP; AP - 938 words
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Article, Illustration763 2006-08-09 22 FRANK CHING - THE BOTTOM LINE FRANK CHING CHINA, which used to be thought of as no more than a regional power—albeit an important one. in particular where the North Korean nuclear issue was concerned is increasingly being treated as a world power whose763 words
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Article, Illustration1259 2006-08-09 23 TIGER TONG - HK is the first choice for China firms listing overseas, followed by London, Tokyo and S'pore By TIGER TONG CAPITAL markets overseas have attracted an increasing number of Chinese firms. And Chinese stocks have become hot all over the world. In June 2006, theAFP; Source: - 1,259 words
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405 2006-08-09 23 Leong Sze Hian Singapore - LETTERS TO THE EDITOR Leong Sze Hian Singapore I REFER to media reports on the proposal to lower the minimum income for unsecured credit lines to $20,000 a year and the article by Matthew Phan, "Number of new bankrupts in HI falls to 1,452f405 words
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134 2006-08-09 23 Naoyoshi Ando - Naoyoshi Ando Consortium Representative WE REFER to the article "Ebara raises a stink, files claim against Malaysian government" (BT, Aug 4). First, we take exception to the headline, which seems to pit Ebara Corporation against the Malaysian government as an antagonist. This depiction is not134 words
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846 2006-08-09 23 THOMAS FULLER - By THOMAS FULLER IHT FAR from the brilliant green rice paddies that spread across the fertile flatlands in Thailand, economists in Europe have calculated that the country's farmers would be among the biggest winners if failed global trade talks were revivedIHT - 846 words
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Article10562 2006-08-09 24 SGX MAINBOARD Transaction date: Aug 8 U-Mi T«l Lact Vol Day L*t Quota GrOtv Mv GrYW Nat MCap low Coda Coin—y Sala (HOP) M* Ua Buyar Ma Cm HI SJ 4 1 5716 1st Software 5c 2.5 unch 12 3 2 2.5 3 10i1 115 6 3148 8TelecomUS2c10,562 words
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Article6153 2006-08-09 25 FINANCE COMMODITIES MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local am In SS In USS dy yr dy yr dy Syr lnd«« Change Chanqa Change Change Change Change The World Index Preliminary 985.3 -0.8 1.6 -0.9 -0.4 -0.9 53 Preliminary 986.6 -13 1.4 -1.6 3.0 -1.6 8.9 Europe Preliminary 1328.8 -1.26,153 words
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Advertisement1757 2006-08-09 26 UK CONTINENT SERVICE U.SJL SERVICE Destination Destination EVGENIA RDM/ATW/BMN/TIB/NAN SEAFRIEND CAM/NFK/SAV/NO. HANJIN PENANG LAX/VCW/MZL Loads Singapore, E./W. Malaysia, Indcrasio Load* E./W. Malaysia, Indonesia MIDDLE-EAST SERVICE MMJL MRVKC Destination PAN BRIGHT DBI/ABU/DOH/BRN/DMM/KWT Destination VOYAGER V DBI/ABU/DOH/BRN/DMM/KWT STXPOTBN INC/BSN GLOBAL MOKPO DBI/ABU/DOH/BRN/DMM/KWT PAN DYNAMIC JDH/AQA Loods Singapore, E./W. Malaysia, Indonesia Loads E.1,757 words
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Advertisement550 2006-08-09 26 I HBGHTW WG KM IP I SM I «T I STMITS VENTURE 14/04 1S 3.2 04/01 M/OC 10/08 13/08 15/06 SIUnSVOTUKIS/tt IS 31 17/08 20/08 26/08 21/08 31/01 Ismrcvßmittit/M is 3J oi/w IfflftTftAHAH fMHKE WWWCI 1 VBSa/YOT OAMUKT) «QHtW| L 3 IS* MB STP MR ABf HE JKT ISM I550 words
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Advertisement2186 2006-08-09 27 WAN HAI MffiRNATIONAL PIE LTD a NO: mmshomo/R VTrA lIIAU a| a T1L*****588 (14UNB) FAX:*****163 YM4 i WAN HAI I INFs **,/****DM u» osoo)*****200 V TIV finil lini miMMinii—HULimMawwiifcuomswMfcumwwt V JOH W; (07) ?siwn fiut (07HSHW1 9MIH: (031) *****7S FAX: 4031) X2V2714/ *****0S WWW wtlhli (am <■ *T WL (021)2,186 words
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Advertisement34 2006-08-09 27 PLACE YOUR AD HERE The Business Times Shipping Times A i V \C H t F H Mf AT Q 5P A 1 > j-< K A K v)* Vj /a i Vo d uUU€34 words
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Advertisement791 2006-08-09 27 w WEEKLY EXPRESS SAIUHG SCHEDULE ALSO ACCEPTING TO ALL NORTHERN AMD WESTERN ICQ POINTS VBSa VOT sm pjqamg coummo uswvt cototwo HOWIAHHID6t 00S4W MAUG IOAU6 13AU6 16AUG 20AUG KOTAfBWMA YPWOW 15 AU6 16 AUG HAU6 22 AUG 26 AUG INDIRA GANDHI OIO6W 27AUG 23AUG 26 AUG 29AUG 02SEP gggM "UngrHlur791 words
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Advertisement687 2006-08-09 28 HB Nordana (Asia} Pie Lid SJSSSI' HUMM "f "I II W«y, *21-03 MariM Hww> 07* 111 NORTH WEST EXPRESS LINE MONTHLY SERVKE TO WESTERN AUSTRALIA AND ISLANDS MTESARE ARRIYAI DATS PL. g |*r w pff JsmLLuus mi I 22 Aw I ois«d ms* iis« msbland Express lE6OB 22 Sw X687 words
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Advertisement576 2006-08-09 28 l| J~~ "Shs pi lu£aya2 jSfl fllta ffi SF= ==^==il= mat iwjliiyß lunrn mi wywl wagnw ISf~B"TT 4i= wtwwi FWI4U nyw gw KfBBBK iHt B/M 9/11 13m™ IS T Ila I $<» 1 Clsw li" lilm IiTI M\ Wffflff 111 U/tt I M/M 11/ M fIK WWM HWM 27/01 01/W576 words
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Advertisement400 2006-08-09 28 CONVENTIONAL SERVIQ LOADING FOR LOADING FOR LOADING FOR COLOMBO-RORO COLOMBO MUMBAI 11 AUG 12 AUG 14 AUG LOADING FOR DUBAI/DAMMAM 24 AUGUST fiji I( sma 1*70) OWNS A OPERATES THE YOUNGEST FLEET I WITH FOURTEEN 7,000 DWT TWEEN DECKERS ICOVHMNO THE ENTIRE ASIA PACIFIC PORTS j uouuut wnar scrvkxs: b400 words
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THE BUSINESS TIMES SHIPPING TIMES
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7407 2006-08-09 29 This ETA ETA AdvartlMr VmhI Voyag* Tttaphont ETA ETA AdvwtiMr Vtsd Voyag* Til«p<ion« SIN Dasfn Ham Nam Number Number SM Dafa Dm Dm Nmbar NMMr wmmmmmmmmmmmmmHmmmmmmmmmmmmmmmmmmmm WmmmmmmmmmmmmmmmmmmmmmmrnHmmmmmmmmmmm To ABIDJAN (ABJ) 2003 Cote D'lvoire To FEUXSTOWE (FXT) 2127 U. K. 16/06 16/09 China Shpg DAXIN7,407 words
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MOTORING
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Article, Illustration576 2006-08-09 30 SAMUEL EE - Korea's Hyundai drops to 4th place after first seven months of the year By SAMUEL EE JAPANESE makes have filled the top three sales spots in Singapore for the first time in four years. Korean carmaker Hyundai*, which has occupied the No 3 or576 words
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Article, Illustration358 2006-08-09 30 SAMUEL EE - By SAMUEL EE VOLKSWAGEN is investing close to a quarter of a million dollars in Singapore's 41st birthday party the second year in a row that it is playing a key role. Tonight, a convoy of white Polo and red Touareg models will transport the358 words
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Advertisement145 2006-08-09 30 DAVID AAKER ioh&b The world's most influential brand strategy guru FAITH POPCORN The world's no.l brand trend forecaster MARTIN LINDSTROM The world's leading youth and technology branding guru JACK TROUT IST The man who co-created brand positioning millenia Singapore I This November, the anticipated forum on Brands for mr PP9145 words
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Advertisement30 2006-08-09 31 II You can now use your CPF savings to invest in AllianzGI Global Allianz (jfi) I Hiqh Payout Fund. Visit our appointed distributors for more details, ciobai investors I I30 words
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executive Money
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Article, Illustration898 2006-08-09 32 GENEVIEVE CUA - Charges embedded in structured deposits can be as much as 4% according to a JP Morgan report, says GENEVIEVE CUA GENEVIEVE CUA YOU have bought a structured deposit and were told that you would not be charged any fees. Can there really be no charges?898 words
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Article, Illustration654 2006-08-09 32 CHET CURRIER - CHET CURRIER THE modern history of technology stocks is a simple tale to tell. When they were good in the *****, they were very, very good. Once they went bad in the early 2000s, they turned relentlessly bad. This riches-to-rags transformation is plain to654 words
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Article, Illustration292 2006-08-09 32 EQlOTmarfaets in the dweloped world rose sightly in July although the post-May 5 downturn continued to produce higher-than-normal volatility The worsening situation In the Middle East also contributed to the erratic trading pattern diking the past month. According to StandardBy Chua Boon Lee, Standard & Poor's Associate Fund Services - 292 words
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852 2006-08-09 32 B JOOI - <tax alert> By B JOOI BOTH in the US and in Singapore, owning a home is a dream for many, and borrowing to pay for one is the norm. Judging by population information from the Department of Statistics, many people in852 words
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Article, Illustration1141 2006-08-09 31 MICHAEL PREISS - MONEY MATTERS After the Great Arabian Bubble, there are reasons to believe that Dubai Financial Market could now be a buying opportunity MICHAEL PREISS STOCK markets tend to go up and down. The financial services industry also warns: Past performance is not necessarilyREUTERS - 1,141 words
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Article5742 2006-08-09 31 AB Amer Income A EUR 6.6*1 AB Amer Income B EUR 6.64/ ABEurop Income OppATSGD 15.0V ABN Amro Asset Mgt (S port) AB Euro? Income Opp BT SGD 15.05/ Star El/ope Eqty! 0.93® AS Europ Income Opp AT EUR I 7.46/ Star Eimpe Bond 11* AB5,742 words
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Advertisement10 2006-08-09 32 MONEY MATTERS Is it time to buy in Dubai? PG3I10 words
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