The Business Times, 2 May 2008

Lock icon This issue may only be viewed from the multimedia stations at NLB Libraries. See FAQ for more information.

Total Pages: 28
1 28 The Business Times
  • 22 1 THE BUSINESS TIMES SINGAPORE 85 cents online at http://www.businesstimes.com.sg ■V A SINGAPORE PRESS HOLDINGS PUBLICATION COREGNNOI9B4O2B6BE MICA (P) 122/12/2007 Friday, May 2,2008
    22 words
  • 739 1  -  CHUANG PECK MING For Spore, much depends on the shape of the US downturn whether it's V, U or L By [SINGAPORE] To the eternal optimists who think that the Singapore economy will rebound from its lean patch in the months to
    739 words
  • 803 1  -  CONRAD TAN Analysts say years of underinvestment in agriculture is at the root of crisis By [SINGAPORE] Soaring food prices have become an urgent problem for governments and central banks in many countries but imposing price controls or export bans is not
    803 words
  • Page 1 Advertisements
    • 58 1 t" ;^^^w:*lii 1979 The fourth Chinese National Games mark the KJLI KSfl K^v yy first occasion that a Swiss manufacturer is Official J^^^ji^^m^ Timekeeper for a Chinese sporting event. OMEGA gfflj T j'iiS'^' times over 6.000 participants in 34 events, records 5 M»I?I*li H new world records and 102 national
      58 words
    • 3 1 8 *****1 *****4
      3 words
  • Page 1 Miscellaneous

  • TOP STORIES
    • 28 2 Lanxess chairma Axel Heitmann, dubbed "the best salesman" W for Singapore, talks about green chemistry and how he feels energised while in Asia.
      28 words
    • 495 2  -  EMILYN YAP Spending in first 4 months 2nd highest in Asia after China By [SINGAPORE] Spending US$l6 billion in the first four months this year, companies in Singapore ranked second in Asia excluding Japan and Australia when it came to the value of acquisitions
      495 words
    • 896 2  -  ANDREW MARKS Its ambiguous statement hints at pause in rate cuts, but not an end By in New York TIME for a pause, or are there still more rate cuts to come in a monetary cycle that has seen short-term rates
      BLOOMBERG  -  896 words
    • 217 2 THE following is the full text of the statement released by the Federal Reserve: "The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2 per cent. Recent information indicates that economic activity remains weak. Household
      217 words
    • THREE-MINUTE DIGEST
      • 103 2 FOR governments and central banks around the world, the recent jump in food prices is posing an unpleasant and unusual dilemma. The last thing most central bankers want to do is to put the brakes on economic growth by
        103 words
      • 64 2 A RISE in headcount primarily in the booming offshore and marine division coupled with higher wages in the red hot sector was the main reason behind an over 30 per cent or $73.1 million rise in Keppel Corp's staff costs for the first
        64 words
      • 54 2 AUTOMATION solutions provider Hisaka Holdings has launched its initial public offering of 90 million invitation shares priced at 23 cents each. Application for the shares commenced on Tuesday and will close on May 6 at noon. Trading is expected to begin on May 8.
        54 words
      • 93 2 THE topic of research and development is not one that usually crops up at the annual May Day Rally speech, but Prime Minister Lee Hsien Loong yesterday saw it fit to highlight its relevance in providing numerous jobs to Singaporeans. Even as
        93 words
      • 94 2 THE US Federal Reserve on Wednesday took a page out of its 2003 playbook by tweaking the language of a policy statement to communicate a conditional halt in its campaign of interest rate cuts. After a two-day meeting, policy-makers lowered the overnight
        94 words
      • 102 2 MALAYSIA'S top union chief yesterday called for a minimum wage of RM1.200 (Sssl7) to help workers cope with soaring food and fuel prices. Syed Shahir Syed Mohamud, president of the Malaysian Trade Union Congress, said millions of workers struggled on a monthly income
        102 words
      • 68 2 MANUFACTURING in China, the world's biggest maker of steel and cement, expanded at the fastest pace on record, spurred by new orders from domestic customers as export demand eased. The Purchasing Managers' Index rose to 59.2 from 58.4 in March, the highest since the
        68 words
      • 81 2 INDIA'S inflation rate, near a three-year high, is a "flare up" that can be cooled by the policy tools available to the Reserve Bank of India, deputy governor Rakesh Mohan said. The central bank on Tuesday ordered banks for a second
        81 words
      • 62 2 US consumer spending rose in March, reflecting an increase in prices that is eroding Americans' buying power. The greater-than-forecast 0.4 per cent rise in spending followed a 0.1 per cent increase the prior month, the Commerce Department said yesterday in Washington. The Federal
        62 words
  • Page 2 Advertisements
    • 33 2 Own the world's Ultimate Home Entertainment Lifestyle Technologies custom-engineered to the aspirations Mymmamrnirn1 1^—-^Ji Lj3 V';l C- *"'H of your ultimate lifestyle. 0. "jl I Live the Ultimate.™ VI iA^.w;.ongradio com |0 ißl^S^^^^^^^^^^^fcZ
      33 words

  • Page 3 Advertisements
    • 186 3 I f llr fi 3^ zz***^ _<^ imii nun ten ii 'iiiiit-' <j X —'ii B "liiHilsl^" (llliiijijij I ij^*™ Khii■ '_'l ll—" A WIN FOR US. A VICTORY FOR THE ENVIRONMENT. Ocean Financial Centre the first office development in Singapore to achieve Platinum Green Mark Award. Continuing to set
      186 words

  • FOOD ECONOMICS
    • 890 4 Wage-price spiral is now a real threat, reports CONRAD TAN FOR governments and central banks around the world, the recent jump in food prices is posing an unpleasant and unusual dilemma. The last thing most central bankers want to
      BLOOMBERG  -  890 words
    • 408 4  -  CONRAD TAN Reports by [SINGAPORE] WITH high agricultural commodity and food prices likely to persist for some time, stock analysts say investing in companies that own the land and infrastructure of food production are good bets. But not all food companies stand to gain from the
      408 words
    • 787 4 Interfering with market prices of food risks creating a black market SO far, Singapore's approach to food price inflation has been right on target, at least according to economists. The government has shunned explicit price controls, opting instead for direct, targeted aid to
      787 words
  • Page 4 Advertisements
    • 2018 4 i ,1 T IN THE MATTER OF THE COMPANIES ACT, CAP. 50 THE COMPANIES ACT (CHAPTER 50) FONWIN MANAGEMENT PTE LTD T1 lr AND or m<-> loiunvuou IN THE MATTER OF li vI ta w-J- ii 1 CHANGJIANG CHEMICAL TRANSPORTATION CO. (S) PTE LTD .STiSIS? P <ln Members' Voluntary Liquidation)
      2,018 words

  • COMPANY NEWS
    • 475 5  -  VINCENT WEE 3,000 more workers hired last year; keen competition adding to wage pressure By A RISE in headcount primarily in the booming offshore and marine division coupled with higher wages in the red hot sector was the main reason
      BLOOMBERG  -  475 words
    • 477 6  -  LIM WEN JUIN By AUTOMATION solutions provider Hisaka Holdings launched its initial public offering (IPO) of 90 million invitation shares priced at 23 cents each on Tuesday. Application for the shares began on the same day, and will close on May
      477 words
    • 773 6  -  EMILYN YAP THE line-up looks all too familiar. Good-looking models in sportswear? Check. Promise of innovative product designs? Check. Display of wide distribution network? Here it is. Glancing through the websites of Sin-gapore-listed Chinese sportswear companies China Hongxing, China Sports and China Eratat it
      773 words
    • 332 6 LETTER TO THE EDITOR WE refer to the article, "Catalist sponsors seek cover from shadow of fines" (BT, April 28). While the article was an unbiased piece, we wish to point out that there was an incomplete representation of the Singapore
      332 words
  • Page 5 Advertisements
    • 36 5 I H|= =^g A= ~^l HA ■r^l l| <•••" B II lagSia IPHbWI IHj HOBERT MONDAVI S.»» ig oQ BI.K S«>*«- IVi |J^ C"""$" BS SS SlißiwSS Klllll llllA_J IflD Bx Dl g£E QQ& py MARKET PLACE
      36 words

  • Page 6 Advertisements
    • 1887 6 /4?> Get y°ur Rabobank Warrant lO Highlights daily via email. W® Visit www.rabowarrants.com.sg or ■M/yij^ 4l*l<yMj^Mj^ Aj| *y emailwarrants@rabobank.com COSCO CORP RB ECWOBOBIB (FD2W) UOB RB ECWOBII2B (FSIW) COSCO CORP SINGAPORE LTD Call UNITED OVERSEAS BANK LTD Call Exercise Price 553.217 Exercise Price 5521.00 L Expiry Date 18 August 2008
      1,887 words

  • SINGAPORE NEWS
    • 674 7  -  LEE U-WEN Efforts to build new capabilities by investing in R&D starting to pay off Reports by THE topic of research and development is not one that usually crops up at the annual May Day Rally speech, but Prime Minister Lee Hsien
      CHEW SENG KIM/THE STRAITS TIMES  -  674 words
    • 733 7 Our economy would not have grown so much without them BY the end of his one-hour May Day Rally speech, the message coming from Prime Minister Lee Hsien Loong was clear: all workers young or old, educated or not, local or foreign,
      CHEW SENG KIM/THE STRAITS TIMES  -  733 words
    • 607 7  -  LEE U-WEN HSG wants to help meet MNCs' demand for executives By NOT many Singaporeans will have heard of the University of St Gallen, but it has been quietly building a presence in the local private education market, with plans under
      607 words
  • Page 7 Advertisements
    • 34 7 GjLW<*U£ ff "LUMIV G CURUNG UP \JtBS" WITH AGOOO BOOK ON ASUNDAY AHERNQON." Local information, bSi fIiSITiTJ local content. L. A A Find whatever you're looking for in Singapore. rednano.sc i^^^^MM find more Bfl
      34 words

  • ECONOMY WATCH
    • 557 8 -Reuters As expected, it lowers overnight benchmark rate by 25 points [WASHINGTON] The US Federal Reserve on Wednesday took a page out of its 2003 playbook by tweaking the language of a policy statement to communicate a conditional halt in its
      -Reuters  -  557 words
    • 520 8 Reuters The bank's meeting also follows calls to redefine its role [SEOUL] The Asian Development Bank (ADB) will seek endorsement of a new strategy this week as it faces calls to redefine its role in the world's fastest-growing region and US
      Reuters; AFP  -  520 words
    • 506 8 Reuters [DUBAI] Several Gulf states cut interest rates yesterday in line with a reduction in the United States as they sought to ward off currency speculation while tackling inflation at near-record peaks. Dollar pegs in all Gulf states
      – Reuters  -  506 words
    • 634 8 Bloomberg He still expects the US economy to keep growing [WASHINGTON] US Treasury Secretary Henry Paulson said the credit crisis probably is more than half over and retained his forecast for the US economy to keep growing. "We are closer to the
      Bloomberg; AP  -  634 words
    • 264 8 MATURITY YEAR RAISED DATE COUPON RATE (%p.a.) AMOUNT ($m) INTEREST PAYMENT DATES OF DAYS OF ACCRUED INTEREST PRICES* (EXCLUDING ACCRUED INTEREST) I REDEMPTION YIELD (%p.a.) ISIN CODE 11.07.2008 NX*****H 1998 5 5/8 4800.00 1/1 1/7 120 100.79 0.96 SG********** 5.01.2009 NX*****S
      264 words
    • 382 8 Reuters [WASHINGTON] The US House of Representatives will not pass a new economic stimulus bill this month, Democratic leader Steny Hoyer said on Wednesday, ensuring that a partisan fight stretches into this summer's presidential and congressional campaigns. Mr Hoyer, a Maryland Democrat,
      ■ Reuters  -  382 words

  • MALAYSIA/INDONESIA
    • 1039 9 Reuters Rice paddies are being replaced by golf courses, hotels, villas and industrial parks [TANAH LOT, Indonesia] The tourists who tee off at this golf course on Bali's west coast are probably unaware that the ground beneath their feet is connected to a global
      Reuters; REUTERS  -  1,039 words
    • 363 9 AFP [KUALA LUMPUR] Malaysia's top union chief yesterday called for a minimum wage of RM1.200 (Sssl7) to help workers cope with soaring food and fuel prices. Syed Shahir Syed Mohamud, president of the Malaysian Trade Union Congress, said millions of workers struggled on a
      AFP  -  363 words
    • 412 9 AFP LABOUR DAY [JAKARTA] Thousands of Indonesians took to the streets of the capital here for Labour Day rallies yesterday, with rising food prices and an expected cut in fuel subsidies weighing heavily on workers' minds. "We are expecting more than 40,000 people
      AFP; AP  -  412 words
    • 410 9 ■AP [KUALA LUMPUR] Malaysia's former prime minister Mahathir Mohamad started his own blog yesterday, joining a growing band of politicians who are using the Internet to spread their views. In keeping with his vehement criticism of his successor, Dr Mahathir's first
      ■AP |  -  410 words
    • BRIEFLY ASIA
      • 62 9 Xinhua [BHIJINGJ The China Securities Regulatory Commission (CSRC) has pledged to curb the axcessive speculation in the share sales of initial public offerings (IPOs). CSRC chairman Shang Fulin said that further steps would be taken to improve the IPO price bidding mechanism and rationally
        Xinhua  -  62 words
      • 69 9 Reuters [BEIJING! Hundreds ol Chinese demonstrated in front of outlets of French supermarket chain Carrefour yesterday, denouncing Tibet independence and voicing support for the Beijing Olympics, Xinhua news agency said. Xinhua said hundreds of protesters held Chinese national flags and shouted slogans against Carrefour and
        Reuters  -  69 words
      • 47 9 Bloomberg [NEW DELHI] Indian interest rates are unlikely to rise in the near future as the nation's central bank battles to cool inflation from near a 3V2-year high, Finance Minister Palaniappan Chidambaram said here after meeting chief executives of state-owned lenders.
        Bloomberg  -  47 words
      • 70 9 Bloomberg [JAKARTA] PT Medco Energi Internasional, Indonesia's biggest publicly traded oil company, said profit in the first quarter rose 49 per cent as crude prices surged. Net income in the three months ended March 31 climbed to U5522.96 million from US$l5.4 million a
        Bloomberg  -  70 words
      • 71 9 Reuters [DHAKAJ Bollywood megastar Amitabh Bachchan and his celebrity family members have all tentatively agreed to take part in a film based on the life of Bangladesh's founding leader, Sheikh Mujibur Rahman, local media said yesterday. Amitabh will take the role of Mujib in
        Reuters  -  71 words
  • Page 9 Advertisements
    • 27 9 Lianhe Zaobao I JTC'S I tenants I fear I I that the group's divestment I I may bring about I 15% I increase I I in rental
      27 words
    • 167 9 ACCPAC Care is the technical support programme for Sage ACCPAC ERP users. It is unsurpassed support starting from a listening ear, to understanding your needs, and giving you complete peace of mind to manage your business. ACCPAC Care is helmed by veterans who have been supporting over 1,000 users, giving
      167 words

  • GREATER CHINA
    • 672 10 Bloomberg Domestic demand strong but orders from the US and Europe may ease [BEIJING] Manufacturing in China, the world's biggest maker of steel and cement, expanded at the fastest pace on record, spurred by new orders from domestic customers as export demand eased.
      Bloomberg  -  672 words
    • 393 10 AP [BEIJING] China's premier has called for another drive against corruption with heavy penalties for government officials found to have abused their positions for money and sex, state media said yesterday. Premier Wen Jiabao said that serious penalties would be
      AP  -  393 words
    • 171 10 -AP [SHANGHAI] China formally opened what it says is the world's longest sea-crossing structure yesterday, a 36-kilometre bridge spanning a bay just south of the eastern business hub of Shanghai. The Hangzhou Bay Bridge links Shanghai to the industrial city of Ningbo across Hangzhou Bay,
      -AP; REUTERS  -  171 words
    • 502 10 Reuters Higher fertiliser and fuel costs for maize are eroding profits [HOHHOT, China] If global corn traders are seeking another reason to be bullish, they need look no further than farmer Wang Wenzhi in Inner Mongolia. Shrugging off the offer of bigger
      Reuters; REUTERS  -  502 words
    • 367 10 -AFP [TAIPEI] Taiwan's incoming China policy coordinator Lai Shin-yuan yesterday backed away from her previous pro-independence stance and pledged to promote cross-strait harmony under the new government. Ms Lai's appointment had alarmed business leaders as she was previously a lawmaker from the Taiwan Solidarity
      -AFP  -  367 words
  • Page 10 Advertisements
    • 1105 10 Ifc^ PT BERLIAN LAJU TANKER Tbk <&%. l Domiciled in Jakarta ("The Company") ANNOUNCEMENT OF THE RESOLUTION OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS We hereby announce that the Annual General Meeting of Shareholders of the Company which was held on 29 April 2008, at Ballroom C, Grand Hyatt Hotel,
      1,105 words

  • INDIA
    • 629 11 Bloomberg, Reuters Delhi plans to shift to a producers price index to measure inflation better [WASHINGTON] India's inflation rate, near a threeyear high, is a "flare up" that can be cooled by the policy tools available to the Reserve Bank of India
      Bloomberg, Reuters; FILE PHOTO  -  629 words
    • 192 11 [MUMBAI] Goldman Sachs yesterday said India's growth prospects remain strong despite adverse global developments like high commodity prices that have pushed inflation to high levels. The growth in 2008-09 is expected to be slow at 7.8 per cent as against 8.7 per cent in the
      192 words
    • 278 11 [MUMBAI] Steelmaker Esmark of the US yesterday said it has accepted a buyout offer put forth by India's Essar Steel Holdings. The deal pegs the enterprise valuation of the US company at US$l.l billion, the Business Standard said in a report. Esmark
      278 words
    • 660 11 -AFP [NEW DELHI] Reluctant "crown prince" Rahul Gandhi is finally getting his hands dirty in India's tumultuous politics after years of dithering about filling the boots of his illustrious forebears. Mr Gandhi, 38, whose father, grandmother and great-grandfa-ther were prime ministers, has launched
      -AFP  -  660 words
    • 717 11 ■Reuters [MUMBAI] Private equity funds sense their time has come in the Indian property arena, with developers offering plum deals as banks tighten lending and a stock market slump shuts off public share offerings. Since India eased rules on inward investment in the
      ■Reuters  -  717 words
    • 873 11  -  WILLIAM PESEK -Bloomberg Firm action is needed this isn't the time to let political squabbling obstruct longer-term prosperity By SITTING in Mumbai traffic for two hours to travel a short distance is enough to shake even the most enthusiastic India bulls. India's infrastructure
      -Bloomberg  -  873 words

  • ASIA-PACIFIC/WORLD
    • 433 12 Bloomberg LATEST US DATA Hike in energy prices may be hitting discretionary spending [NEW YORK] US consumer spending rose in March, reflecting an increase in prices that is eroding Americans' buying power. The greater-than-fore-cast 0.4 per cent rise in spending followed a 0.1 per
      Bloomberg  -  433 words
    • 218 12 Reuters [LONDON] The number of wealthy women is on the up, and one businesswoman has created a service designed to take the hassle out of their money management. Anna Sofat, the former managing director of independent financial adviser Fiona Price Partners, and
      – Reuters  -  218 words
    • 563 12 Bloomberg [LONDON] Money in funds tracking the two most-in-vested commodity indexes jumped 48 per cent so far this year, suggesting increased influence over record energy, food and metals prices, according to Sanford C Bernstein Co. Investments following the Standard Poor's GSCI
      – Bloomberg  -  563 words
    • 357 12 Reu- ters [NEW YORK] Billionaire investor Carl Icahn, who regularly rankles corporate executives with heated demands for strategic change backed by the threat of a proxy battle, is finally going live with his blog. "I think the time has finally come
      Reu-; ters; AP  -  357 words
    • 386 12 Reuters [SEOUL] South Korea's April exports and inflation rose more than expected and at their fastest annual pace in more than three years, but analysts said the economy faces risks so the central bank would cut interest rates. April exports rose 27
      Reuters  -  386 words
    • 263 12 -AP [NEW YORK] Playwright, actor and filmmaker Tyler Perry, media mogul Rupert Murdoch, former British prime minister Tony Blair and New York City Mayor Michael Bloomberg are among the newsmakers on Time magazine's list of the world's 100 most influential people. The 2008
      -AP  -  263 words
    • 247 12 -A^T [SAN FRANCISCO] Along Stockton Street, the bustling heart of Chinatown, there is no lack of eye-pop-ping products and equally eye-popping prices paid for them. Dried toad goes for US$42 a pound, deer tail about US$35O apiece, and
      -A^T  -  247 words
  • Page 12 Advertisements

  • WORLD
    • 605 13 Reuters Sub-prime write-offs could eventually be less than half of forecasts, it says [LONDON] The scale of losses and the economic fallout from the credit crunch may not be as bad as feared and sub-prime write-offs could end up costing less than half market
      Reuters  -  605 words
    • 553 13 Bloomberg [NEW YORK] Microsoft Corp directors failed to decide on the next step in the pursuit of Yahoo! Inc on Wednesday, leaving open the debate over whether to walk away from the U5544.6 billion bid or fight to replace the Internet company's
      Bloomberg; AP  -  553 words
    • 377 13 Reuters [NEW YORK] Regulators at the US Securities and Exchange Commission will be just as tough when examining financial statements filed under international accounting rules, a top official said on Wednesday. "Unequivocally, we will review financial statements prepared under IFRS (International Financial
      – Reuters  -  377 words
    • 540 13 Reuters [NEW YORK] Investors fear that Citigroup Inc's sale of US$4.5 billion of shares, combined with a US$6 billion preferred stock sale last week, signal the bank is likely to face more writedowns in the future and may need to raise even more capital.
      Reuters  -  540 words
    • 455 13 Reuters [NEW YORK] US bond insurers, including MBIA Inc and Ambac Financial Group, will likely need to make new interest payments for structured deals backed by residential mortgage debt, as more homeowners default on their mortgages, Citigroup analysts said on
      Reuters  -  455 words
  • Page 13 Advertisements
    • 202 13 ♦$6.50 sqft month (till 31 Jan 2009) BREAKLEASE (44th Floor) Excellent View 1,900 sqft Pis contact Mr Takano HP: 9670-0285 »J TRE 21 PTE LTD |k| TOKIO PROPERTY SERVICES PTE LTD LUAUK.Y |V' S, Dl'Nc AND HCS:--!1 v-/ V^'^X^ Umll| V v—' ""U^^ The P'c^ °f *ne bunch for Brunch
      202 words

  • AVIATION
    • 588 14 Bloomberg The carriers may create a JV as part of the broadened Oneworld alliance [WASHINGTON] American Airlines and British Airways pic (BA) are in talks to expand their Oneworld alliance to add Continental Airlines Inc and secure antitrust immunity to set prices and schedules,
      Bloomberg; FILE PHOTO  -  588 words
    • 2458 14 AIRLINE CODES: AA American Airlines (AAL), AF Air France (AFR), Al Air India (AIC), AY Finnair Oy (FIN) AZ Alitalia Airlines (AZA), BA British Airways Public Ltd Co (BAW), BG Biman Bangladesh Airlines (BBC), Bl Royal Brunei Airlines Sdn Bhd (RBA), Mjraq -irlme: 'SOU. BP EVA
      2,458 words
    • 314 14 Bloomberg [LONDON] Virgin Atlantic Airways Ltd, the UK carrier controlled by billionaire Richard Branson, will scrap in-flight manicures and massages offered to premium passengers in favour of more beauty services at its lounges. Virgin said last month it was conducting
      Bloomberg; I BLOOMBERG  -  314 words
    • 265 14 Bloomberg [NEW YORK] Mesa Air Group Inc has agreed to pay U5552.5 million to Hawaiian Airlines to settle claims it misused confidential information obtained in bankruptcy court to launch a competing airline. Under the accord, Mesa will drop its appeal of an US$BO
      – Bloomberg  -  265 words
    • 425 14 Bloomberg [WASHINGTON] AMR Corp's American Airlines and other carriers will retain the ability to lower pension payments, potentially saving hundreds of millions for cashflow, as a result of US Senate action on Wednesday in Washington. The procedure ensures that American, Continental Airlines
      Bloomberg  -  425 words
    • 376 14 ■AP [NEW YORK] Aviation companies sued by the families of Sept 11 victims for failing to safeguard air travel are in turn blaming federal investigators arguing the Federal Aviation Administration (FAA) was not alerted that al-Qaeda was poised to
      ■AP  -  376 words

  • SHIPPING
    • 739 15 Bloomberg China may be seeking to stockpile iron ore for its steelmaking sector [LONDON] The Baltic Dry Index, a measure of shipping costs for commodities, rose to the highest in more than four months on demand for iron ore and
      Bloomberg; FILE PHOTO  -  739 words
    • 520 15 NYT [NEW YORK] A state appeals court ruled on Tuesday that the Port Authority was liable for damages caused by the 1993 World Trade Center bombing because it knew about but chose to ignore "an extreme and potentially catastrophic vulnerability that would have
      NYT  -  520 words
    • 534 15 -Reuters [BEIJING] China's steel industry still opposes including any freight premium in iron ore prices in negotiations with Australian miners, even as pressure rises to seal a deal in the next two months. Asian steel mills' negotiations with the miners on
      -Reuters  -  534 words
    • TRANSPORT STOCKS
      • 102 15 '000 CH Offshore Chuan Hup Hldgs Cosco Corp CWTLtd... Ezra Hldgs First Ship Lease Freight Links Grand Banks laya Hold Ltd KlVentures Keppel Corp MTQ Corp NOL Pacific Shipping Pan-United Corp Rickmers Man Samudera Ship Sembcorp Indust Sembcorp Marine Spore Ship 0.62 0.36 3.16 0.78 2.40 1.05 0.07 unch
        102 words
      • 38 15 '000 nt'G Logistics MISC Bhd MISC Foreign Msia Bulk Carrie NCB Holdings Nepline Bhd PDZ Holdings 0.80 9.45 9.20 4.38 3.12 0.22 0.14 0.01 0.15 0.10 unch 0.02 -0.01 -0.01 263 533 1646 514 22 20 10
        38 words
      • 12 15 ■oo 'recious Ship Regional Cont 24.40 23.60 -0.40 -0.10 976 351
        12 words
      • 14 15 '000 30 HK$ Vol Soil iingamas Cont 42.85 ..2.26 -0.75 unch 1151 832
        14 words
      • 22 15 '000 Aboitiz Equity Intl Container Keppel Marine Keppel Prop 6.60 30.50 2.50 unch unch unch unch unch 364 578 400 0
        22 words
      • 20 15 Evergreen Marine ....29.05 :irst Steamship 83.00 /Van Hai Lines 27.35 r'ang Ming Marine ..23.65 0.45 3.00 0.35 0.65 1
        20 words
      • 38 15 '000 fen :awasaki Hvy Ind ..268.00 3.00 ***** :awasaki Kisen ...1056.00 -55.00 7413 /litsubishi Hvy 482.00 4.00 ***** /litsui Eng&Sbldg ..339.00 -9.00 ***** /litsuiOsk Lines ...1431.00 -28.00 ***** Jippon Express 574.00 2.00 2664 lipponYusen 1010.00 -23.00 4452
        38 words
    • 315 15 Bloomberg [NEW YORK] General Maritime Corp, the second-larg-est US oil-tanker owner, said first-quarter profit fell 23 per cent on higher costs. Net income dropped to US$l2.9 million, or 43 cents a share, from US$l6.7 million, or 53 cents, a year earlier, the New York-based
      Bloomberg  -  315 words
    • 309 15 Bloomberg Independent accounting firm to conduct audit on RM4.6b project [KUALA LUMPUR] Malaysia's government has appointed a new chairman for the Port Klang Authority to help determine the viability of a RM4.6 billion (Ss2 billion) free-trade zone project at the country's biggest
      – Bloomberg  -  309 words
    • 219 15 Reuters [MOSCOW] Russia's largest Black Sea port, the Novorossiysk Commercial Sea Port, said on Wednesday that its 2007 net profit more than doubled, helped by a scheduled tariff increase and shift to high-margin cargoes. Net profit rose to U5593.7 million from US$44.l million in
      – Reuters  -  219 words
  • Page 15 Advertisements
    • 109 15 SOUTH EAST ASIA AND SOUTH ASIA TO/FROM NEW ZEALAND NOTICE TO TRADE BUNKER ADJUSTMENT FACTOR (BAF) Arising from the regular review of bunker prices, we wish to inform the trade that with effect from 1 June 2008, the BAF for all shipments from Singapore, Malaysia, Thailand, Indonesia, Vietnam and India
      109 words

  • EDITORIAL & OPINION
    • 464 16 GREEN power is starting to take root here. But it will need more encouragement by the authorities (read: incentives) for it to flourish. Amidst rocketing oil prices which impact on the fuel costs of power plants here and consumers, in turn, feel the pinch
      464 words
    • 1004 16  -  TIGER TONG The Chinese govt can reinforce regulations over listed firms in slumping markets By THE highly anticipated stamp tax cut has improved market sentiment dramatically. But it might well be a temporary lift. China's stock markets, once isolated, are now linked more closely
      AFP  -  1,004 words
    • 770 16  -  ROBERT SAMUELSON The Washington Post Writers Group THE BOTTOM LINE WHAT to do about oil? First it went from US$6O to US$BO a barrel, then from US$BO to US$lOO and now to US$l2O. Perhaps America can persuade Opec to raise production, as
      The Washington Post Writers Group  -  770 words
    • 1624 17  -  GOPINATH PILLAI It has big advantages but the nation needs to overcome key challenges with the help of the govt and corporate sector BY FROM the dawn of history, whether for matters of mind or material, India has always been a fertile land.
      REUTERS; BLOOMBERG, REUTERS  -  1,624 words


  • FINANCE & COMMODITIES
    • 366 18 In local curr In S$ In US$ %dy %yr dy yr dy yr Index Change Change Change Change Change Change ir 30 World Index Preliminan 1054.4 0.4 -6.8 0.1 -10.1 0.3 -4.6 EAFE Preliminai 1012.4 0.3 -9.7 -0.2 -10.4 0.1 -5.0 Euroi Preliminan 1393.9 0.5
      366 words
    • 136 18 As at 9am Apr 30 Singapore dollars to one unit of foreign currency: Currencies Bid Offer Aust dollar 1.2600 1.2750 Can dollar 1.3340 1.3500 Euro 2.1060 2.1290 lalai rim lit* 0.4306 0.4313 NZ dollar 1.0430 1.0660 Sterlini 2.6630 2.6930 US dollar 1.3530 1.3680 Local dollars to
      136 words
    • 160 18 Mayi $S_ Offer Overnight 1 -month 2-months 3-months Overnight mode: 1 US$ 1/2 1 1/4 1 5/16 1 7/16 Offer 3/8 1 1/8 1 3/16 1 5/16 Bid 7 days 1 month 2 months 3 months 6 months 9 months 12 months $Au 1 month 3 months 6
      160 words
    • 25 18 Apr 30 ten Hii Sett STI IIMSCI Ma' 389.9 391.3 387.6 "aiwan Ma> 343.5 347.2 343.7 Source: MF Global (S) He. Ltd
      25 words
    • 20 18 AprJU Bid Offer 1-month 1.3578 1.3592 2-months 1.3558 1.3573 3-months 1.3544 1.3559 6-months 1.3502 1.3518 Source: OCBC
      20 words
    • 157 18 Apr 30 Against SS Currencies Bid Offer Against US$ Bid Offer S$fUS$ to one unit of foreign currency: Australian dollar 1.2699 1.2713 0.9340 0.9342 Canadian dollar 1.3431 1.3447 0.9878 0.9881 Euro 2.1153 2.1175 1.5558 1.5561 NZ dollar 1.0549 1.0572 0.7759 0.7769 jterlini 2.6690 2.6717 1.9631 1.9633 US
      157 words
    • 257 18 Mayi OPEN HIGH LOW SETT VOL OP/INT EURODOLLAR FUTURES JunO8 SepO8 DecO8 MarO9 97.325 97.310 97.115 97.015 0 0 0 0 ***** ***** ***** ***** EUROYEN FUTURES JunO8 99.135 99.135 SepO8 99.095B DecO8 99.065 99.070 MarO9 98.915 99.015B JunO9 98.970B SepO9 98.880B DecO9 98.850B Mar10 98.805B 99.125A
      257 words
    • 282 18 Apr 30 RUBBER Futures (Closing prices) RSS 1 (S cents/kg) Month High Low Close Sett Volume (tonnes) Open Interest May 08 Jun 08 Jul 08 Aug 08 Sep 08 Oct/Dec 08 397.25 395.25 390.25 388.50 386.75 385.75 RSS 3 (US cents/kg) Month High Low Sett Volume (tonnes) Open
      282 words
    • 104 18 Apr 30 (5,000 bu min; US cents/60 Ib bushels) Close Previous High/Low May 08 1301.75 1279.50 1334.00 1270.00 Jul 08 1314.00 1293.50 1350.00 1283.00 Aug 08 1303.00 1281.50 1333.00 1275.00 Sep 08 1265.50 1241.00 1281.00 1252.00 SOYBEAN/OIL (60,000 lbs;Uscent/lb) Close Previous High/Low May 08 57.67 57.09 58.28
      104 words
    • 76 18 CRUDE OIL PRODUCTS Apr 30 CRUDE (FOB origin) US$/barrel Close Cham Brent blend (1-Mth F) 111.65 -2.88 WTI (Near Mth) 114.66 -0.91 Dubai (1-Mth F) 106.98 -2.1 Tapis blend 119.25 -2.45 Minas 111.7 -2.4 PRODUCT US$/barrel (FOB S'pore) Close Change Naphtha Jet Kerosene 105.30 142.00 -1.85 -1.75 US$/barrel Opec Oil
      76 words
    • 465 18 Apr 30 AS Rmb Euro HKS IndRsRu Yen Won RM NZS Pak Rs Peso i« Rand Sfr NTS Baht Pound us: Australia 0.945 6.532 0.600 7.280 37.747 86.236 0.972 9.374 2.948 1.203 60.343 39.489 1.271 7.103 0.968 28.441 29.613 0.476 0.934 Canada 1.058 6.909 0.635 7.700 39.925
      465 words
    • 91 18 Apr 30 Period Issue code Maturity Yesterday's Bid Day's High Low 3-Month BQ*****A 31.07.08 1-Year BY*****N 04.05.09 0.95 1.07 0.95 0.95 1.05 1.05 GOVERNMENT BONDS Period Issue Coupon Maturity code rate Close Bid Day's High Low 2-Year N5O51OOF 2.625 5-Year N *****0V 1.625 7-Year NX*****F 3.625 10-Year NY*****F
      91 words
    • 76 18 Apr 30 1 mth 2.***** 1.***** 2 mths 2.***** 1.***** 3 mths 2.***** 1.***** 6 mths 2.***** 1.***** 9 mths 3.***** 1.***** 12 mths 3.***** 1.***** SWAP Offer rates (S$) 1 mth 1.***** 2 mths 1.***** 3 mths 1.***** 6 mths 1.***** 9 mths 1.***** 12 mths 1.***** SWAP
      76 words
    • 64 18 Apr 30 KLCE PALM FUTURES (RM/MT) Delivery Opening Sett Av Month Range Price Price Hi Vol Open Done Position Low May 08 3354 3370 3360 3350 68 1093 JunO8 3372 3390 3401 3365 846 8592 Jul 08 3345 3395 3412 3338 5338 ***** AugO8 3359 3370 3406 3359
      64 words
    • 138 18 May 7 GOLD (USS/oz) ir 30 A[ ir30 Hong Kong London 866.00 866.00 867.00 867.00 Apr 29 Apr 30 877.40 869.70 878.40 870.70 Source: Reuters CAST BAR (S$) Apr 30 Buying Sellini Kilobar "41,126.52" ***** PAMP GOLD BARS (S$) Selling Buying 1gm 5gm 10gm 20gm 50gm 100gm 1
      138 words
    • 67 18 Aluminium, 99.7% purity (US$/tonne) Close Previous Cash 2861.20 2918.20 3 months 2907.00 2964.00 Copper, Grade A (US$/tonne) Cash 3 months 8697.50 8549.00 8698.00 8540.00 Lead (US$/tonne) Cash 2694.50 3 months 2714.00 2712.00 2734.00 Nickel (US$/tonne) Cash 3 months *****.00 *****.00 *****.00 *****.00 Tin (US$/tonne) Cash *****.00 *****.00 3
      67 words
    • 77 18 Apr 30 COCOA (Btonne) Close Prev Hii ih/Low May 08 1477 1493 1494/1470 JulO8 1495 1508 1508/1483 SepO8 1427 1439 1440/1418 Dec 08 1410 1421 1422/1401 COFFEE (US$/tonne) Close Pev High/Low May 08 2210 2203 2232/2190 Jul 08 2258 2253 2278/2236 SepO8 2253 2255 2274/2238 Nov08 2230 unch 2251/2217
      77 words
    • 1716 18 BONDS WARRANTS [el lode Company Last Vol Conv Exer Sale +or- ('000) Ratio Price Disc Gear- Mths ing Left »92 Asia Environment W*****4 12 -0.5 280 1 38 9 3.83 16 1267 Biosensors DB ECW*****5 21.5 -0.5 6 1 70 5 1014 Capitaland BNP ECW*****8 30 -1.5 140 0.1 498
      1,716 words

  • Page 19 Advertisements
    • 2905 19 The Business Times Shipping Times TiTHj jjHn WAN HAI INTERNATIONAL PTE LTD crn0:**********0/r V A^V Ks%£ iyggrfP^'Wfrwia'n'rf %rrrt\ ■■>!■ ■■>■ mup* TEL6226ISSS (HLINES) FAX:*****163 V "^^l ■TT^P^^l ■gߣ&f2j ljUSSgfjlsE V\\M IIAIAM HAI INFV CustomerService/Bookings Direct line-(1800) *****200 *Jl^^^^^^"M ■•MMMaMM!SMMgHSjaMMS"JUfIM BfIB^SSSESSEwIS V ''tI lIHII riHI LllltJ PKL HL: (03) *****388 FAX:
      2,905 words

  • Page 20 Advertisements
    • 3237 20 RICKMERS-LINIE ww **^Hdp-hih-i^., Hf^T EASTERN CAR LINER. LTD I fl) £J®3Sl^ Regular Breakßulk/Project/SOC Conventional Services website: www.rickmers.com I 111 Wm I I SPECIALIZE IN RORO HEAVY LIFT UPTO 450 TONS I mca Cp rv i r p I rf WbbKLY bAmboo oAILINu oUnbUULb a,- Ia I z I MTI zI
      3,237 words

  • Page 21 Advertisements
    • 5681 21 I I J A MntDCtSI Tel: 65-*****907 Fax: *****917 I i^™ vW^ ES 151 n 19 n ANDERSEN «„«>». «>,„ |wsh glory NAVIGATION RRflllP I H?pMM|H ISM K&fl [Ml r-- >M A^ l shipping companT7 70 Shenton Way, #21-03 Marina House Singapore *****8 U£A i"-uil lUHIIUM UltUUr R^llHlPHfililfl^^ MS NORTH
      5,681 words

  • executive lifestyle
    • 1539 22 Republic receives positive reviews for its works at Milan Furniture Fair, a Spring Singapore official tells LIM SIO HUI, as furniture firms cite hurdles in transporting bulk supplies to European customers THE words "Made in Singapore" may not have meant much to the casual
      1,539 words
  • Page 22 Miscellaneous

  • CINEMA/ENTERTAINMENT
    • 766 23 PROFILE French Ambassador Pierre Buhler speaks to PARVATHI NAYAR about Encore!, a European season of arts events in Singapore that launches next week and goes on till December #UROPE as an entity is here to stay, but the European Union or EU is not
      ARTHUR LEE  -  766 words
    • 582 23  -  GEOFFREY EU By YOU could say that Robert Downey Jr pulls a lot more than his own weight in Iron Man, the latest Marvel Comics superhero to get the big budget, big screen, live action treatment and the first to emerge from Marvel's
      582 words
    • 556 23  -  PARVATHI NAYAR By BOOKS have the power to populate the imagination with very real people as any of us who have read adventure stories as children can testify to. Nim's Island based on Wendy Orr's novel has the sweet conceit of translating this entire notion
      556 words
    • 615 23  -  PARVATHI NAYAR DVD By FOR any Fab Four fan, Across the Universe is a fab film to relive the nostalgia, because it gets the main thing right the stars of the show are the Beatles songs. They may be resung by
      615 words

  • ARTS/GAMING
    • 812 24 The Giacometti show supported by Credit Suisse is part of a unique tie-up with SAM, reports PARVATHI NAYAR #UPPORT of the arts doesn't come and go with market volatility," says Credit SuB isse's Dr Francois Monnet, managing director, head of private banking South-east Asia and Australasia.
      812 words
    • 486 24  -  VIADHVI SUBRAHMANIAN By FORGOTTEN in the current trends of postmodern art, and with only fleeting references in art history books, is the great sculptor Julio Gonzalez (1876-1942). His works and influence on future generations are the highlight of The Blacksmiths' Alchemy, currently on at the
      486 words
    • 594 24  -  CHRISTOPHER LIM By THE buzz around this week's launch of Grand Theft Auto N (GTA IV) has obscured all other news in the computer gaming world. Little wonder, since everyone loves a good controversy and the immensely popular GTA franchise has
      594 words
  • Page 24 Miscellaneous
    • 578 24 art BEAT New take on medicalcare 'Arsan Moliere's satire /^«k/^U^lij| ijr%% l decides to marry his FRENCH playwright *g \j I^l daughter Angelique to Po^etoMoMre's W{M^ However, Angelique the heels of young L i V^ take on the genre of W!LD's Best Ensemble ,^P Mgh comedy by win at the
      578 words

  • SPIRITS/NIGHT OUT
    • 653 25 Hennessy and Bombay Sapphire ride on the success and consumer acceptance of their 'old brandy in new bottle' concept, reports CHRISTOPHER LIM BEING an established name in the liquor industry can be a dou-ble-edged sword. Despite enjoying instant brand recognition, it's a constant
      653 words
    • 597 25  -  CHRISTOPHER LIM By IF you've spent part of your evening on the Singapore Flyer and been a tad underwhelmed by the experience, there's a simple antidote that could completely transform it a decent alcoholic beverage. Something to munch would also be
      597 words
    • 1023 25 AP [CHABLIS, France] Fine French wine with a screw top? At La Cote Saint Jacques restaurant, a Michelin three-star temple of gastronomy in the Burgundy region, chief sommelier Arnaud Laplanche isn't ashamed to give it a try. He's part of a quiet revolution sweeping the
      AP  -  1,023 words
  • Page 25 Advertisements
    • 122 25 Bosch Express 15 mins programme: >^P*\ iM^%. S' 4^hk Quick solutions for /f-l\ O/%C/*U [fB B/J H 7 IW^i today>s busy lifestyle 19^ tsuown V^> Bosc^asc.ated the |nvented fof |jfe I Express 15 programme which enables you to wash 2 kg of lightly soiled garments in only 15 minutes. \^^J
      122 words

  • MUSIC/BOOKS
    • 821 26 The Bossa Nova legend, who recently launched his album Encanto, hopes to play in Singapore, as does Norwegian jazz band Tord Gustavsen Trio, reports CHRISTOPHER LIM 3OSSA nova exponent Sergio Mendes is one of those names, like Herbie Hancock, who has enjoyed
      821 words
    • 502 26  -  BEN MUNROE CD REVIEW Third Portishead Go! Discs/Universal Rating: A Started a Fire One Night Only Mercury/Universal Rating: B By THIS week sees two new releases by bands from opposite ends of England and at totally different stages of their careers. Bristol-based trio Portishead, formed in
      502 words
    • 1355 26  -  OMKAR SHRESTHA BOOK REVIEW The New Asian Hemisphere: The Irresistible Shift of Global Power to the East by Kishore Mahbubani Public Affairs, New York (2008) Price: $30 Rating: A By THE title of Kishore Mahbubani's latest book, The New Asian
      1,355 words
  • Page 26 Miscellaneous
    • 327 26 CRYPTIC CROSSWORD ACROSS 5 Natural plain fashion (9) I Guest finds item hidden in 6 Baffling weapon? (4) mask(7) 7 Having a just claim that's ter--5 Colouring matter for fans hble before fellow leaves (8) had been removed (7) g O ne pen thereabouts hiding 9 Clean round single seat
      327 words

  • CLIPPER ROUND THE WORLD RACE
    • 1129 27 Sailing along the California coast, the fleet enjoyed strong downwinds for the first few days. Things have slowed down now with lighter winds, reports VINCENT WEE BEFORE the opening of the Panama Canal in 1914, the only practicable way around the American continent was to
      ONEDITION  -  1,129 words
  • Page 27 Advertisements
    • 1265 27 I y2J IS Bu INTHEMAnEROFTHE IN THE MATTER OF THE IN THE MATTER OF In the matter of The Companies Acl, COMPANIES ACT CAP 50 COMPANIES ACT CAP 50 THE COMPANIES ACT, CAP. 50 Cap. 50 AND AND AND And IN THE MATTER OF IN THE MATTER OF IN THE
      1,265 words
    • 157 27 This series on Uniquely Singapore's adventures in the Clipper 07-08 Round the World Yacht Race is brought to you by '^■''M' THE BUSINESS TIMES Business Times journalist Vincent Wee, who did a circumnavigation on Uniquely Singapore Clipper in the 2005-2006 race and reported from onboard the boat in the first
      157 words

  • Page 28 Advertisements
    • 129 28 J^^^ mm**' Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Past performance is not a guide to future performance. The value of investments and the income from them can fall as well as rise and is not guaranteed. You may
      129 words