The Business Times, 25 November 2014
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2014-11-25
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The Business Times
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Title Section29 2014-11-25 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G n@BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Tu sday, November 2529 words
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Article, Illustration254 2014-11-25 1 Singapore’s headline inflation eased to 0.1 per cent in October from 0.6 per cent in September its lowest since December 2009 but that only tells one side of the story. TOP STORIES 2 In what economist-blogger Hishamrais Hussein described in a post on Monday as “an outbreak of254 words
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Article26 2014-11-25 1 Monday Change STI 3,340.53 -4.79 KL COMP 1,833.77 +24.64 NIKKEI 225 Closed HANG SENG 23,893.14 +456.02 SHENZHEN B 977.91 +10.56 DOW (11am EST) 17,830.84 +20.7826 words
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Article, Illustration1039 2014-11-25 1 Lynette Khoo - Central bank catches market off-guard with first cut in 2 years aimed at curbing stubbornly high borrowing costs By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore CHINA’S unexpected interest rate cuts, its first in almost two years, provided the fuel for rallies in some AsianSource: CEI, OCBC - 1,039 words
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636 2014-11-25 1 Mindy Tan - As at Oct 31, it has recovered/denied cash payout and bonus for 150 cases amounting to about S$7.6m By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE Inland Revenue Authority of Singapore (Iras) now has more teeth to curb abuse of the Productivity and Innovation636 words
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Advertisement89 2014-11-25 1 *****4 GOOD CLASS BUNGALOW Nanshan Group’s Song family buys Holland Park GCB REAL ESTATE 14 ONLINE ONLY REALISING GLOBAL AMBITIONS Lim Ee Seng, group CEO of Frasers Centrepoint Ltd DBS ASIAN LEADERS INSIGHTS 12 Explore how Jurong Island has changed over the years with our interactive map and timeline btd.sg/JurIsld89 words
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TOP STORIES
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Article, Illustration848 2014-11-25 2 Kelly Tay - But easing due to COE base effects; core inflation still firm at 1.7% By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore SINGAPORE’s headline inflation eased to 0.1 per cent in October from 0.6 per cent in September its lowest since December 2009Source: Department of Statistics - 848 words
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697 2014-11-25 2 Lynette Khoo - SHANGHAI-HONG KONG LINK By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore THE Hong Kong stock exchange is working with regulators to fan interest among mainland investors to trade Hong Kong stocks via the Shang-hai-Hong Kong stock connect. This includes studying how the door697 words
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Article, Illustration665 2014-11-25 4 S Jayasankaran - Move coincides with low global oil prices, and the govt’s savings can be put to good use, say observers By S Jayasankaran btworld@sph.com.sg Kuala Lumpur IN what economist-blogger Hishamrais Hussein described in a post on Monday as “an outbreak of common sense”, thePHOTO: THE NEW PAPER FILE PHOTO - 665 words
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562 2014-11-25 4 Pauline Ng - Talent-management firm: workers near retirement age are not financially ready and neither are employers By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA could have a crisis on hand as its population ages. It is already well known that a562 words
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371 2014-11-25 4 John Foley - By John Foley &JS REUTERS BREAKINGVIEWS CHINA’S economy is in the throes of financial adolescence. One consequence is that, when faced with surprises like the cut in interest rates on Nov 21, it doesn’t always do what it is told. If all credit&JS REUTERS BREAKINGVIEWS - 371 words
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Article, Illustration723 2014-11-25 5 Chuang Peck Ming - PM to set up Smart Nation Programme Office; Virtual Singapore project to be launched Reports by Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore SOON after the separation from Malaysia in 1965, Singapore’s first Prime Minister Lee Kuan Yew set a goal for thePHOTO: LAU FOOK KONG/THE STRAITS TIMES - 723 words
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576 2014-11-25 5 National infocomm Awards also go to LTA, DBS and Singapore District Cooling Singapore NUMONI, a Singapore-based payments company, wants to reach out to over 80 per cent of the world’s people. That’s an ambitious goal for a young (just two years old) and small (a576 words
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Advertisement35 2014-11-25 2 TO LIFE’S ADVENTURES landrover-asia.com 9* a 5p DV I Land Rover Singapore Range Rover Sports Fuel Consumption (combined): 7.5 12.8 L/IOOkm. CO2 Emissions (combined): 199 298 g/km MroWer a ABOVE BEYOND 1 Sp rts A35 words
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Advertisement366 2014-11-25 4 MR ROBERT C S TAY LEARN THE WINNING STRATEGIES OF INVESTMENT LEGENDS WARREN BUFFETT, BEN GRAHAM, PHILLIP FISHER, PETER LYNCH AND JOHN TEMPLETON! COURSE HIGHLIGHTS To empower participants with the tactical knowledge and expertise in stock valuation, certainly a useful tool in volatile markets. A key focus of the course366 words
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Advertisement1 2014-11-25 4 Hospitality&TourismConference2011 words
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Advertisement90 2014-11-25 4 Brand Your Assets Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your Financial Statements HIGH QUALITY FURNISHING We design, manufacture and wholesale all kinds of wooden sofa frames. We also export our products to Japan and South Korea. With our personalised approach, we are able to anticipate and meet90 words
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Advertisement38 2014-11-25 4 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices38 words
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Advertisement38 2014-11-25 5 m n rm ■Mmw &P mm Wit; ..x"& V -:‘j 9 m ll > V WjlM ''MZM li Si sgi sr AD Og tel CM o Q£ w E E A sss < m James McAvoy England, May 2014 H38 words
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COMPANIES & MARKETS
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1004 2014-11-25 6 Lee Meixian - Those that stand out amid the bleakness are firms that have diversified into investment properties and overseas markets By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE FTSE index tracking Singapore property developers has underperformed the benchmark Straits Times Index 4.8 per cent to 5.5 per cent1,004 words
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306 2014-11-25 6 Singapore A QUALIFIED Person’s report commissioned by AsiaPhos Ltd confirmed an increase in the Catalist-quoted company’s total measured and indicated phosphate resources to 30.3 million tonnes as at Sept 30, 2014, from 23.1 million tonnes at the end of last year. The report by Watts,306 words
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659 2014-11-25 8 R SIVANITHY - HOCK LOCK SIEW R SIVANITHY sivan@sph.com.sg @RSivanithyBT OVER the course of what has been a largely unimpressive year for the local stock market, many second-line firms have at one time or the other been in the focus because they announced deals with large, head-line-grabbing659 words
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Article, Illustration606 2014-11-25 8 Claire Huang - By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore FIFTEEN project agreements amounting to more than S$3 billion have been signed at the 10th Singa-pore-Zhejiang Economic and Trade Council (SZETC) meeting held in Singapore, the highest number of such signings sinceST FILE PHOTO - 606 words
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487 2014-11-25 9 Chan Yi Wen - By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore NAN FUNG International Holdings, one of Hong Kong’s largest privately owned property developers, has raised its offer price for Forterra Trust to S$2.25 per unit from S$ 1.85. The higher bid price for487 words
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494 2014-11-25 9 BLOOMBERG Seoul SAMSUNG Group’s first management restructure since family patriarch Lee Kun Hee’s heart attack is set to focus on the executives leading the world’s biggest smartphone business as earnings slump and market share shrinks. The annual changes, which SouthBLOOMBERG - 494 words
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302 2014-11-25 9 Anita Gabriel - Mobile advertising firm wins largest first-round funding of any startup in Singapore By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore MOBILE advertising startup PocketMath has raised US$10 million from Rakuten Ventures which marks the largest first-round funding of any startup in Singapore. For Rakuten Ventures, the302 words
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Article, Illustration63 2014-11-25 10 STI Catalist Straits Times index NOV 24,2014 3,340.53 -4.79 (-0.14%) Current streak 1 day Day high 3,356.27 Day low 3,339.53 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index NOV 24,2014 795.45 +0.95 (+0.12%) Current streak 2 days Day high 799.69 Day low63 words
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Article, Illustration646 2014-11-25 10 R Sivanithy - Index closes lower as bank stocks pull back; penny stocks and blue chips see rotational plays on quiet day STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT AN interest-rate cut in China that pushed the Hang Seng Index up just under 2 per cent had noSource: Bloomberg - 646 words
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Article307 2014-11-25 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 227 +1 228/225 250 206 6.3 5735.6 CapitaLand 332 +5 337/331 348 268 16.6 2.4 *****.2 CapitaMall Trust 197.5 +0.5 198/196.5 209 180 5.2 6849.9 CityDev 988 -9 999/983 1118 860 13.4307 words
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Article36 2014-11-25 10 VOLUME GSH 232,438,000 OLS Enterprise 90,292,000 Forterra Trust 66,879,200 IHC 54,127,000 Digiland Intl 39,724,000 Market volume 1,666,626,000 VALUE Forterra Trust 150,374,570 SingTel 85,250,670 CapitaLand 62,950,750 DBS Grp 56,446,710 Suntec Reit 39,128,580 Market value 1,067,125,00036 words
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Article110 2014-11-25 10 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US780 +2 1083 790/778 790/541 777/780 97.5 STI ETF 338 +1 250 339/337 343/298 337/339 UETF SSE50China 171 +6 191 171/169 173/140 169/172 53.4 Nikko AM STI ETF 343 -1 168 345/343110 words
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Article77 2014-11-25 10 Nov 24 VALUE CLOSE BT OB/OS -161.00 +34.00 BT CADI -*****.00 +15.00 BT 10-day MA -*****.00 -16.00 FTSE ST Mid Cap 753.09 +1.70 FTSE ST Small Cap 520.32 +1.74 FTSE ST All Share 804.13 -0.43 FTSE ST China Top 192.57 +0.55 FTSE ST China 226.15 +0.43 FTSE77 words
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Article, Illustration35 2014-11-25 10 STI FTSE ST All-Share FTSE ST All-Share index NOV 24,2014 804.13 -0.43 (-0.05%) Current streak 1 day Day high 807.27 Day low 803.86 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)35 words
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Article, Illustration33 2014-11-25 10 STI MSCI EAFE MSCI EAFE Index NOV 21,2014 1,831.20 +16.06 (+0.88%) Current streak 1 day Day high 1,832.14 Day low 1,812.97 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (Oct 16, 2014)33 words
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Article186 2014-11-25 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 3 5 0 0 0 6 3 5 Manufacturing 33 46 47 6 9 9 39 55 56 Commerce 21 19 17 4 6 2 25 25 19 Tpt/Stor/Comms 11 17 12186 words
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Article123 2014-11-25 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 16,739 16,739 48,101 48,101 Manufacturing 175,287 60,842 236,129 89,745 3,271 93,016 Commerce 323,938 41,012 364,950 89,182 3,733 92,915 Tpt/Stor/Comms 82,538 1,344 83,882 143,823 487 144,310 Finance 17,206 301 17,507 123,030 62 123,092 Construction 26,804 33,087123 words
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Article76 2014-11-25 10 BY CENTS CLOSE UP 52w high/low SPDR S&P500 US$ ***** 387.1 1.5 *****/***** DBXT MSKorea US$ 5666 150.7 2.1 6735/5550 DBXT China50 US$ 3179 137.7 3.4 3367/2577 DBXT AUDBonds AU$ ***** 122.7 0.5 *****/***** DBXT MSTHAI US$ 2190 94.8 3.4 2222/1620 BY PERCENTAGE CLOSE UP 52w high/low Qingmei 2.276 words
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Article77 2014-11-25 10 BY CENTS CLOSE DOWN 52w high/low DBXT iBoxxSvEu US$ ***** -126.0 -0.4 *****/***** Hyflux 6% CPS ***** -90.0 -0.8 *****/***** DBXT Vietam US$ 2808 -54.6 -1.5 3100/2384 JMH USD 6180 -49.4 -0.6 6460/4934 Jardine C&C 4075 -39.0 -0.9 4901/3330 BY PERCENTAGE CLOSE DOWN 52w high/low UOB MB ePW*****2 2.377 words
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Article82 2014-11-25 10 VOL CLOSE($) CHANGE Qingmei 4,034.0 0.022 +0.011 +100.00 Forterra Trust 66,879.162 2.250 +0.390 +20.97 Samko Timber 12,081.0 0.110 +0.010 +10.00 China Haida 490.0 0.018 -0.003 -14.29 AVIC 277.0 0.070 -0.020 -22.22 Hoe Leong 2,234.0 0.046 -0.004 -8.00 Full Apex 510.0 0.060 +0.010 +20.00 Courage Marine 1,070.0 0.084 +0.01482 words
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BROKERS’ TAKE
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Article210 2014-11-25 10 BUY Nov 24 close: S$1.175 Target price: S$1.25 DBS Group Research, Nov 24 MAPLETREE Logistics Trust (MLT) continued on its acquisition growth path with Smart Logistics Centre in Korea for KRW21.4 billion (S$25.2 million). The acquisition price implies an initial yield of 7.8 per cent and is earnings210 words
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Article239 2014-11-25 10 Claire Huang - Compiled by Claire Huang |REDUCE Nov 24 close: S$0.57 Target price: S$0.53 CIMB Research, Nov 24 BIOSENSORS International Group’s share price has taken a beating since our post-results downgrade call. Our channel check reveals that there are potentially more blind spots, especially when restructuring efforts and sales239 words
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Article22 2014-11-25 10 DATA I 9.00 am Singapore GDP I 9.30 pm US GDP Price index I 10.00 pm US SP/CaseShiller Home Price Index22 words
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377 2014-11-25 11 CURRENCIES REUTERS London THE euro inched up against the US dollar on Monday after a strong-er-than-expected German business survey offered some respite, though it stayed close to a two-year low on bets of more easing in the eurozone. A monthly business climate indexREUTERS - 377 words
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FOREX RATES
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Article471 2014-11-25 11 Nov 24 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.974 5.323 0.699 6.727 53.609 105.280 1.022 9.645 2.900 1.098 88.113 38.963 1.127 9.504 0.841 26.837 28.463 0.554 0.867 Canada 1.027 5.464471 words
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Article155 2014-11-25 11 NOV 24 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1261 1.1271 0.8670 0.8675 Canadian dollar 1.1561 1.1571 0.8906 0.8901 Euro 1.6106 1.6114 1.2400 1.2402 NZ dollar 1.0255 1.0264 0.7895 0.7900 Sterling pound 2.0338 2.0346 1.5658 1.5659155 words
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Article22 2014-11-25 11 NOV 24 S$ Bid Offer 1-month 1.2992 1.2998 2-months 1.2992 1.2998 3-months 1.2993 1.2999 6-months 1.2993 1.3000 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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Article362 2014-11-25 11 NOV 24 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.72 *****.59 *****.20 Dec14 *****.00 *****.00 *****.00 *****.00 *****8 *****4 Mar15 *****.00 *****.00 *****.00 *****.00 394 5044 MSCI TAIWAN INDEX FUTURES SPOT 341.61 341.98 339.44 Nov14 339.00 342.90 339.00 340.40 ***** *****6 Dec14 339.20362 words
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204 2014-11-25 11 Most active Nov 24 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 4.2 -0.1 3010 1 18 23 DBS MB eCW*****2 13.5 0.6 2800 0.1 0 7 Tritech Group Limited W*****9 3 0.5 2488 1 20204 words
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373 2014-11-25 11 In local curr In S$ In US$ dy yr dy yr dy yr Nov 21 Index Change Change Change Change Change Change World Preliminary 1284.1 0.8 8.4 0.5 7.5 0.7 4.6 EAFE Preliminary 995.3 1.2 4.1 0.7 -1.8 0.9 -4.4 Europe Preliminary 1401.4 1.8 3.4373 words
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BANK RATES
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Article154 2014-11-25 11 Nov 24 $S Offer Bid 0vernight 0.03 0.01 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.15 US$ Offer Bid 7 days 0.18 0.08 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12154 words
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Article36 2014-11-25 11 NOV 24 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters36 words
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Article61 2014-11-25 11 Nov 24 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.67 5-Year N*****0H 1.625 01-Oct-19 100.65 100.75 100.70 10-Year NY*****H 3.000 01-Sep-24 105.99 106.15 106.15 15-Year NY*****E 2.875 01-Jul-29 102.45 20-Year NZ*****V 3.375 01-Sep-33 107.86 30-Year NA*****N 2.750 01-Apr-4261 words
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AGRI METALS ENERGY
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Article212 2014-11-25 11 NOV-21 Price Net change change Last Trade Agricultural Nov-21 CBOT Soybeans (US cents/bu) 1039.00 18.50 1.81% 14/01/2015 CBOT Soybean Oil (US cents/lb) 32.69 0.02 0.06% 12/12/2014 CBOT Wheat (US cents/bu) 547.25 0.00 0.00% 12/12/2014 Nov-21 LIFFE Cocoa (£/tonne) 1894.00 -1.00 -0.05% 12/12/2014 LIFFE Coffee (US$/tonne) 2076.00 1.00 0.05%212 words
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Article57 2014-11-25 11 NOV 24 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2224.0 2195.0 2230.0 2192.0 187 4229 Jan 15 2233.0 2198.0 2233.0 2194.0 3735 ***** Feb 15 2239.0 2205.0 2239.0 2200.0 ***** ***** Mar 15 2245.0 2213.057 words
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Advertisement140 2014-11-25 6 i 1.29 3 V. T ***** ;:r;acis 3 *3 Ik j TOP FXTRADERS CHOOSE SINGAPORE'S No.l PROVIDER' i < V r I j I t)\ I UT1 i .a. We provide CFD and forex traders with 24-hour support including access to in-house experts located in our storefront office at 9140 words
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Advertisement18 2014-11-25 6 The art of things chosen well rather than often. Wi m THE THOMAS PHEASANT COLLECTION PARAGON 04-42 WWW.PROOF.COM.SG18 words
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Advertisement210 2014-11-25 8 URBANATHLON 2015 TEST YOUR STRENGTH. CHALLENGE YOUR SPIRIT. 14KM ROUTE, 9 URBAN OBSTACLES EARLY BIRD RATE AT ONLY $108! (U.P.$128) TILL DEC 15, SO HURRY! MARCH 1, 2015 7AM KALLANG PRACTICE TRACK ARE YOU A CUB OR A LION? PROVE YOUR METTLE IN SINGAPORE’S TOUGHEST RACE WITH NEW OBSTACLES, OLD210 words
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Advertisement144 2014-11-25 8 THE BUSINESS TIMES DATE: Saturday, 10 January 2015 Ilium) m TIME: 9.30am to 1pm All prices inclusive of GST TICKETS; Early Bird *ends 8 December 2014 $28 $38 Normal $18 Maybank Cardholders/ Maybank Kim Eng clients What lies ahead for you, the investor, in 2015? Hear from our distinguished panel144 words
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Advertisement21 2014-11-25 9 Shop ONLINE www.oaks.com.sg It's A ‘Discovery! OAKS ine wine shop L’Atelier Carafe Classic Appellation with Special Pencil Usual: SS195.00 Now: S$97.5021 words
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Advertisement290 2014-11-25 9 HOW EMPLOYERS CAN BENEFIT FROM THE WAGE GHEDIT SCHEME (WGSI 74 000 0ve benefited "P' 0V the first from W e tNCS P a V° ut The WCS helps businesses which are facing rising wage costs in a tight labour market. It co-funds 40% of the wage increases given to290 words
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DBS ASIAN LEADERS INSIGHTS
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Article, Illustration1195 2014-11-25 12 FRANCIS KAN - With Lim Ee Seng at the helm, FCL’s assets have grown from S$5 billion in 2004 to almost S$17 billion this year. BY FRANCIS KAN ACALCULATEDbet made more than 10 years ago by Singapore property developer Frasers Centrepoint Limited (FCL) to tether its growth to the real1,195 words
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Article197 2014-11-25 12 LIM Ee Seng shares the important lessons he’s learnt about the property business in his career so far: “I have been fortunate that in all these years, I have had the opportunity to work for highly successful bosses with excellent entrepreneurial skills, and I have been able197 words
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Article210 2014-11-25 12 DESPITE the attention on its overseas ventures, FCL group CEO Lim Ee Seng maintains that Singapore remains a core market of the developer’s portfolio. He gives a breakdown of the developer’s strategy to weather the headwinds in the Singapore property market: IFocus on the mid to210 words
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REAL ESTATE
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501 2014-11-25 14 Lee Meixian - By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore UNDAUNTED by the lacklustre en bloc residential sale market this year, a freehold condominium in the Novena area has launched a collective sale. Derby Court, a 35-year-old, 12-storey development comprising 20 apartments, has given an501 words
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Article, Illustration649 2014-11-25 14 Kalpana Rashiwala - S$30m purchase made through Sui Yongqing, wife of Song Jianbo, eldest son of group founder BY Kalpana Rashiwala ka|pana@sph.com.sg @Ka|panaBT Singapore SOME members of the Song family behind Nanshan Group Singapore, which has been increasing its presence in the Singapore propertyFILE PHOTO - 649 words
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348 2014-11-25 14 STALLED DEALS BLOOMBERG Hong Kong AQUIS Group, the developer that’s planning to build the world’s largest hotel in the tropical Australian city of Cairns, has put the project on review after a related casino takeover fell through. Aquis “will beBLOOMBERG - 348 words
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243 2014-11-25 14 BLOOMBERG Hong Kong SUNAC China Holdings Ltd is considering revising an agreement to purchase a 24 per cent stake in Greentown China Holdings Ltd after the target’s founder rescinded his wish to sell a stake in the Chinese developer. Sunac, based in Tianjin,BLOOMBERG - 243 words
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Article, Illustration748 2014-11-25 16 European, US companies have pulled workers out of the country; rouble down 11% against euro BLOOMBERG London TIMUR Pankov was effectively living rent-free in Paris nine months ago, because the cost of his apartment was covered by the income from his Moscow property.BLOOMBERG; PHOTO: BLOOMBERG - 748 words
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261 2014-11-25 16 Targeted overseas markets include Europe, the United States and Australia REUTERS Beijing CHINESE property developer Dalian Wanda Group plans to build more than 150 premium hotels around the world by 2018 in an expansion of its luxury hotel business, state news agency XinhuaREUTERS - 261 words
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243 2014-11-25 16 REUTERS Cairo EGYPTIAN real estate company Amer Group plans to split into two companies in an attempt to create more opportunities for its development business and to boost trading in its shares. The company, which owns hotels, restaurants andREUTERS - 243 words
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468 2014-11-25 17 It wants to take advantage of rising wages and retail sales in Europe’s largest economy BLOOMBERG Berlin UNIBAIL-RODAMCO SE plans to add a second mall in Berlin and has increased investment in the first as Europe’s biggest shopping-centre owner taps oneBLOOMBERG - 468 words
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292 2014-11-25 17 BLOOMBERG Istanbul TURKISH home sales jumped the most this year as stabilised interest rates spurred a surge in mortgage loans. The number of homes sold jumped 2 5 per cent to 95,645 in October, with mortgage sales rising 31 per cent, accordingBLOOMBERG - 292 words
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Advertisement258 2014-11-25 14 Suntec City Office Towers The Business Capital Of Asia Prestigious Business Address Efficient and regular size of 9,300sf Currently Fitted for move-in condition Lift Lobby Frontage Ample Natural Light At the heart of business facilities and international world-class hotels Raised Floor/ Spacious lobby and corridor Easy access to three MR!258 words
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Advertisement131 2014-11-25 14 TANGLIN SHOPPING CENTRE FREEHOLD STRATA COMMERCIAL UNITS FOR SALE I S 1 Exclusive appointment 1 Freehold, District 10 1 Orchard shopping belt 1 Retail, medical office units 1 Ideal for both owner occupation investment 1 No Additional Buyer's Stamp Duty 1 Foreigners companies are eligible to purchase 1 Strata-titled units131 words
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Advertisement96 2014-11-25 14 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices Australian Property Finance Have you recently bought an Australian property and need a loan to complete the transaction? Already own and want to ensure you have the best loan? CONTACT SPECIALIST96 words
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Advertisement445 2014-11-25 16 52 ??p:r Strategies To Grow and Protect Your Property Investments All prices are inclusive of GST 0^ Register Now stand to win an IPHONE 6 Y4i m |!S::=! :ii A Terms Conditions apply fl DAY 1 SATURDAY, 29 NOV 2014 DAY 2 SUNDAY, 30 NOV 2014 WHY ATTEND? *Terms and445 words
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Advertisement672 2014-11-25 17 Four Seasons Private Residences r lO& n //>€/' A COUNTRY GROUP DEVELOPMENT WATERFRONT LIVING AT ITS FINEST In the heart of Bangkok, overlooking the majestic Chao Phraya River, rises the first waterfront Four Seasons Private Residences in Asia. An iconic 73-storey residential tower standing over more than 14 acres of672 words
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BANKING & FINANCE
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912 2014-11-25 18 Measures are to ensure they don’t get stuck holding hard-to-sell bonds in a rising-interest-rate environment REUTERS New York US fund firms are taking extra measures to make sure they don’t get stuck holding hard-to-sell bonds in the event that fixed income marketsREUTERS - 912 words
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Article, Illustration621 2014-11-25 18 BLOOMBERG Hong Kong CHINA’S banks, already saddled with mounting bad debt, face the risk of sagging profit growth after an interest-rate cut slashed their margins on loans but some investors are getting more optimistic, not less, about the outlook for theBLOOMBERG; PHOTO: BLOOMBERG - 621 words
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650 2014-11-25 19 It will anchor EU’s 300 billion-euro investment programme, say officials BLOOMBERG Brussels THE European Union is planning a 21 billion-euro (S$33.97 billion) fund to share the risks of new projects with private investors, two EU officials have said. The new entity is designedBLOOMBERG - 650 words
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Article, Illustration527 2014-11-25 19 Judge agrees to delay trial until July 6 AFP Hong Kong A BRITISH banker accused of killing two Indonesian women was on Monday ruled fit to stand trial, but there will be a delay of months as prosecutors comb over forensicAFP; PHOTO: AFP - 527 words
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Advertisement536 2014-11-25 18 THE BUSINESS TIMES Ik 1 S 1 Toll free 1800-289-8822 I fl I I Email notices@sph.com.sg J I V i I www.sphclass.com.sg/notices INDUSTRIAL GOVERNMENT LAND SALES: LAND PARCELS AT TUAS AND TAMPINES J^sso UTH AVenue PLOT 40 Site Information Tuas Location Land Area Tenure GPR Zoning Project Completion Period Tuas536 words
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Advertisement17 2014-11-25 18 Choose from Prime Stock Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices17 words
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Advertisement225 2014-11-25 19 Advantage is what you pass on to your loved ones Leaving your loved ones a lasting legacy is a gift they will always treasure. PRUTerm Vantage is a specially designed high-value, yet flexible coverage plan that complements both your status, as well as your needs. Present this gift of love225 words
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ENERGY & COMMODITIES
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Article, Illustration696 2014-11-25 20 Bribery probe hampers borrowing in international debt markets until producer provides audited results BLOOMBERG Sao Paulo THE widening corruption probe at Petroleo Brasileiro SA is threatening to impair its ability to finance the world’s biggest oil investment plan. The state-controlled producer, which delayed releasingBLOOMBERG; PHOTO: AFP - 696 words
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608 2014-11-25 20 BLOOMBERG Hong Kong AN oilfield service joint venture set up by Schlumberger Ltd and Anton Oilfield Services Group will fire some staff after the partnership failed to win enough contracts. Sichuan-based Tongzhou IPM Services Co, setup in September 2012, will fire some employees to cutBLOOMBERG - 608 words
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Article, Illustration287 2014-11-25 20 AFP Sydney BHP Billiton on Monday outlined plans to cut costs further as the world’s biggest miner battles falling commodity prices, pointing to its planned demerger as helping to drive productivity gains. The Anglo-Australian resources group is aiming to simplify and strengthenAFP; PHOTO: BLOOMBERG - 287 words
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425 2014-11-25 20 REUTERS London THE European oil refining industry would be better off with just 60 plants, a cut of around 40 per cent from today’s number, a report from Dutch bank ING said on Monday, but the risk that inefficient refineries willREUTERS - 425 words
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Advertisement70 2014-11-25 20 12th edition 19 22 March 2015 Singapore EXPO Hall 6 11am 10pm Daily Participate in Singapore’s MEGA Food Beverage Fair Sell local international food products to over 250,000 visitors during the March school holiday period! Book Your Space NOW! *Limited Booths Available! For more information, call *****620 or email to70 words
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Advertisement21 2014-11-25 20 www.omy.sg OM M. *9 1 Buzz Talk illi P K-ljD pj news.omy.sg Download omy Apps omy News iOS AppStore Google Play21 words
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TECHNOLOGY
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Article, Illustration726 2014-11-25 21 But lawmakers’ move to break up search giant shows level of antagonism it confronts BLOOMBERG Luxembourg A EUROPEAN Parliament bid for legislation splitting up Google Inc may send a message that’s too loud to ignore as European Union (EU) antitrust regulatorsBLOOMBERG; PHOTO: BLOOMBERG - 726 words
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408 2014-11-25 21 AFP Washington A HIGHLY sophisticated cyberspying tool has been used since 2008 to steal information from governments, businesses and others, security researchers said on Monday. Security firm Symantec said the malware, known as Regin, was seen “in systematic spying campaigns againstAFP - 408 words
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322 2014-11-25 21 BLOOMBERG London THE UK government will introduce legislation that will require Internet companies to provide user data to authorities to help identify potential terrorists and criminals as part of new wide-ranging security powers. “The terrorism legislation that we’re going to be introducingBLOOMBERG - 322 words
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Page 21 Advertisements
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Advertisement172 2014-11-25 21 .comdirectory YOURGANGWAY COMINGSOON! TOAN OCEANOFBUSINESSOPPORTUNITIES! The Business Times/Shipping Timesis opening up an exciting new “trade route” for businesses catering to the maritime, shipping and related industries with the upcoming launch of its Maritime And Shipping Directory. Here’s how this new advertising platform can help your business make a splash in172 words
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Advertisement155 2014-11-25 21 WORLD’S FINEST SERVICED OFFICES SERVICED OFFICES For the 1-10 person business Fully furnished prestigious offices Business registration offices available Sea View Offices Available Now; First 3 Months Free on a 6 Month Lease Dedicated receptionist answering your calls the way you would like Meeting rooms, bilingual secretaries Global IT infrastructure155 words
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CONSUMER
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986 2014-11-25 22 Efforts include use of wrappers designed to be reclaimed, reused or composted NYT London BRITISH supermarkets are selling beer in glass bottles that are a third lighter than they were a few years ago. Unilever, which makes products such as Dove cleansers andNYT - 986 words
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Article, Illustration609 2014-11-25 22 BLOOMBERG New York AS falling petrol prices and a growing job market afford consumers more spending cash heading into the holidays, investors are positioning for retailers like Walmart Stores Inc to reap the benefits. Demand for options that protect against future lossesBLOOMBERG; PHOTO: AFP - 609 words
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Advertisement116 2014-11-25 22 for our AWARD-WINNING NEWSLETTER! Don’t have much time to read but want to stay on top of the news? Join over 90,000 people who get fresh stories from The Straits Times every day from our free newsletter. The newsletter, ST Daily News, is sent to your e-mail inbox by 7.30am116 words
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CORPORATE GOVERNANCE PRACTICES
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Article, Illustration1470 2014-11-25 23 FRANCIS KAN - Singapore leads the region when it comes to corporate governance requirements, but challenges still remain.BY A GLOBAL PERSPECTIVE remain.BY FRANCIS KAN SINGAPORE has come out tops in terms of corporate governance (CG) standards in the Asia-Pacific, and is in a good position to support itsFILE PHOTO - 1,470 words
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GOVERNMENT & ECONOMY
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Article, Illustration582 2014-11-25 24 The threat from the Islamic State would require different skills from what Mr Hagel possesses, officials say REUTERS NYT Washington DEFENSE Secretary Chuck Hagel has resigned, US officials said on Monday, ending nearly two years in the Pentagon’s top job. Mr Hagel, who hadREUTERS; NYT - 582 words
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Article, Illustration636 2014-11-25 24 REUTERS Shanghai A BID by China to rein in its ‘shadow banking’ activity is producing results, thanks to slowing economic growth and tighter regulation. But some success for a policy drive to curb risky lending is not all good newsREUTERS; PHOTO: REUTERS - 636 words
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596 2014-11-25 24 BLOOMBERG Paris MARIO Draghi is about to find out just how urgent his call for action has become. One week after the European Central Bank president vowed to revive inflation “as fast as possible”, policy makers will receive aBLOOMBERG - 596 words
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Article, Illustration383 2014-11-25 24 REUTERS New Delhi THE United States wants to step up its trade dialogue with India, Trade Representative Michael Froman said on Monday, after the resolution of a global trade dispute paved the way for President Barack Obama to visit India. DirectREUTERS; PHOTO: REUTERS - 383 words
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443 2014-11-25 24 AFP Frankfurt BUSINESS confidence in Germany appears to be stabilising after long months of decline, with the Ifo business climate index rising in November for the first time in seven months, data showed on Monday. In an encouraging sign for Europe’s biggest economy, andAFP - 443 words
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214 2014-11-25 24 REUTERS Beijing CHINA is set to make executives at its biggest state-owned firms publicly reveal their salaries, the state-run Economic Information Daily reported on Monday, the latest in a series of reforms aimed at boosting corporate efficiency and transparency. Payment disclosure, which will applyREUTERS - 214 words
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Article, Illustration580 2014-11-25 25 World Bank says sharp temperature rises would cut crop yields, water supplies AFP Washington CLIMATE change could undermine efforts to defeat extreme poverty around the globe, the World Bank warned Sunday. In a new report on the impact of global warming, the bank saidAFP; PHOTO: REUTERS - 580 words
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690 2014-11-25 25 REUTERS Paris THE countdown has begun to what threatens to be a missed opportunity to revive Europe’s stalled economy. When European Union leaders meet on Dec 18-19 under new management, they have a chance to launch a joint assault on the economic stagnationREUTERS - 690 words
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Article, Illustration474 2014-11-25 25 BLOOMBERG Melbourne AUSTRALIA raised A$5.68 billion (S$6.4 billion) selling shares of Medibank Private Ltd in the country’s sec-ond-largest initial public offering (IPO). The government sold about 2.7 billion shares in the nation’s biggest health insurer at A$2.15 apiece for institutional investors and A$2 for individuals, FinanceBLOOMBERG; PHOTO: BLOOMBERG - 474 words
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409 2014-11-25 25 BLOOMBERG Copenhagen AFTER witnessing Europe’s biggest leap in income disparities during the debt crisis, the finance minister of Denmark says there needs to be a more nuanced approach to tackling inequality. “There’s room to make Denmark a place where it’sBLOOMBERG - 409 words
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Article, Illustration679 2014-11-25 25 AFP Washington NESTLED in President Barack Obama’s plan to overhaul aspects of the US immigration system are tweaks to rules for high-skilled workers long frustrated with hurdles to getting work or residency approval. The tech and medical sectors especially haveAFP - 679 words
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TRANSPORT
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Article, Illustration1095 2014-11-25 26 The region is benefiting from cheap coal prices and environmental opposition to building terminals in the west Coast BLOOMBERG Chicago WHEN it comes to exporting American coal, the West Coast’s loss is the Gulf Coast’s gain. While environmental opposition has stymied plans toBLOOMBERG; PHOTO: BLOOMBERG - 1,095 words
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783 2014-11-25 26 BLOOMBERG New York THE first time Carl Dietrich brought his flying-car concept to the Experimental Aircraft Association’s annual AirVenture gathering in Oshkosh, Wisconsin, he had only a video to show the aviation geeks who wandered by his modest stall. TheBLOOMBERG - 783 words
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699 2014-11-25 26 BLOOMBERG Mexico City MEXICO’S German auto history began with small, cheap cars. Now it’s becoming a place where top-of-the-line German brands roll out of billion-dollar factories. By decade’s end, Mexico will claim fourth place worldwide for German luxury car output after theBLOOMBERG - 699 words
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365 2014-11-25 26 REUTERS Cape Canaveral, Florida A RUSSIAN Soyuz rocket blasted off from the Baikonur Cosmodrome in Kazakhstan on Sunday to deliver three new crew members to the International Space Station, including Italy’s first female astronaut. A Soyuz capsule carrying incoming stationREUTERS - 365 words
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Advertisement18 2014-11-25 26 China's fast-growing TCM health and wellness market has many pitfalls To subscribe, call 6388-3838 or go to sphsubscription.com.sg18 words
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Article977 2014-11-25 27 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Riyadh 060E 25 Nov 19 Dec 02 Jan 06 Jan 09 Jan 12 Jan 14 Jan 15 Jan 19 Jan 21 Jan 21 Jan 26 Jan977 words
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Page 27 Advertisements
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Advertisement222 2014-11-25 27 USE THIS SPACE TO SELL CALL JOE WONG AT *****327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced sh/p maintenance services wanted. Can they find your services here in the Shipping Times? Tim Business times TO ADVERTISE, CALL JOE WONG AT 9620 1327 Publicise Your Del ivery Of Newbuilds v222 words
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OPINION
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510 2014-11-25 28 EDITORIAL ACCORDING to reports from Washington, Republican lawmakers, buoyed by their electoral successes in the mid-term elections, are considering using their power to control the purse strings to determine whether or not the US federal budget is approved as510 words
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Article, Illustration854 2014-11-25 28 Paul Krugman - Rock-bottom economics when the rules no longer apply THE BOTTOM LINE By Paul Krugman NYT SIX years ago the Federal Reserve hit rock bottom. It had been cutting the federal funds rate, the interest rate it uses to steer the economy, more or less frantically in an unsuccessful attempt toNYT - 854 words
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Article, Illustration1099 2014-11-25 28 TAN KOK HUAN - Holding of properties from all over the world by Singapore property trusts means that the market has been able to grow beyond expectations. BY TAN KOK HUAN expectations.BY TAN KOK HUAN T The writer is managing director, capital markets, at DBS Bank SEVENPHOTO: BLOOMBERG; Source: Bloomberg as at Oct 31, 2014, World Federation of Exchanges - 1,099 words
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757 2014-11-25 29 Nick Cunningham - COMMENTARY By Nick Cunningham A S November draws to a close, there are two major events that could profoundly change the oil markets. With the clock ticking, the five permanent members of the UN Security Council plus Germany (P5 plus757 words
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LETTERS TO THE EDITOR
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699 2014-11-25 29 Mak Yuen Teen - Mak Yuen Teen I REFER to the letter “Several factors shape the performance of directors” (BT, Nov 18). This was a reply to my earlier letter, “Are busy directors cutting corners or really supermen in suits?” (BT, Nov 7), which raised some issues with the699 words
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261 2014-11-25 29 Bobby Jayaraman - Bobby Jayaraman LOW retail participation in the stock market has been a source of concern lately, and a variety of proposals have been put up to remedy this. One fundamental area which has not been discussed much is the current practice of261 words
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462 2014-11-25 29 Tan Kok Tim - Tan Kok Tim JAPAN and US have pledged a total of US$4.5 billion to the United Nations’ US$10 billion Green Climate Fund (GCF). If the 200 countries can give on average US$500 million each, the GCF will have US$100 billion. The462 words
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Article, Illustration892 2014-11-25 29 JOHN PRESCOTT, ANDREW HAMMOND - Partnership will boost prospects of global pact next year with benefits for both.BY JOHN PRESCOTT and ANDREW HAMMOND both.BY JOHN PRESCOTT, ANDREW HAMMOND T John Prescott was formerly UK deputy prime minister, and Europe’s chief negotiator at Kyoto in 1997. Andrew HammondPHOTO: REUTERS - 892 words
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LIFE & CULTURE
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Article, Illustration677 2014-11-25 30 Lee U-Wen - Republic one of four Asian cities to host the International Premier Tennis League By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore HE dazzled the crowds at the Singapore Indoor Stadium back in 1997 and 1998 by winning the doubles event at the HeinekenFILE PHOTO - 677 words
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Article, Illustration1005 2014-11-25 30 NYT Santa Monica, California WITH its cutting-edge social media campaigns for The Hunger Games, the tiny 27-person marketing department at Lionsgate has become a model for Hollywood’s legacy studios: scrappy, thrifty, forward-thinking. But is the “Lionsgate way” even possible for the old guardNYT; FILE PHOTO - 1,005 words
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Advertisement31 2014-11-25 30 klSS92 FM place one in songs great the All "•sr i OpO Op so Oso o SOB o pO OaQ Op SOa O PO o SOa BO ■rmmm D facebook.com/kiss92fm www.kiss92.sg31 words
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Advertisement67 2014-11-25 30 HOT PROPERTY ALJUNIED MRT PRIME FH. B1 Ind Area: 1572-1916 sf 6.5m ceiling Corp Image ENTERPRISE 1, RAMP up fty near future Kaki Bukit MRT Near PIE/KPE. 2164sf. Fitted unit. VTO. TUAS LOT RAMP-UP fty. B2. 8866 sf. 30 yrs c/w 2 lorry parking lots. Near future MRT/ custom/ PIE/67 words
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Page 30 Miscellaneous
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Miscellaneous328 2014-11-25 30 CRYPTIC CROSSWORD Across 7 Argument that could take its toll? (4-4) 9 Motive in crime not originally detected (6) 10 Promise revealed in part of sentence? (4) 11 Brazen, having spent too much time in hot water? (4-6) 12 Bit of change in mined material (6) 14 Works of art,328 words
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SME
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Article, Illustration1009 2014-11-25 31 Over the years, iSPRINT has supported over 8,000 SMEs in their tech journeys. One of them is Old Street Bak Kut Teh, which deployed an e-menu system to improve productivity and help its business grow WITH its mosaic flooring, rustic beams and dark wooden wallPHOTO: IDA - 1,009 words
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907 2014-11-25 31 Ong Joo Sun - COMMENTARY By Ong Joo Sun T The writer is director of finance/regional controller, Nanyang Inc, and a qualified associate chartered management accountant, accredited by the Chartered institute of Management Accountants (CIMA) since 1991 AS Singapore continuously strives to maintain its position as907 words
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Advertisement86 2014-11-25 31 Impress your clients with a great business address \C0**c O' AJ-y e' r n Lv A 3S, Mr .Jr J* 15 prestigious business addresses across Singapore Singapore Quick and easy to set up Orchard Tampines Junction JTC Summit Flexible terms to suit all businesses Singapore Place r Suntec City Marina86 words
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