The Business Times, 26 November 2014
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2014-11-26
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The Business Times
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Title Section30 2014-11-26 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg G C ©BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Wedn sday, November 2630 words
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Article, Illustration240 2014-11-26 1 Emerging East Asia’s local currency bond markets continue to expand, with Singapore’s market the fastest-growing in the third quarter, the Asian Development Bank said. TOP STORIES 2 Singapore’s overall unit labour cost rose 4.4 per cent in the third quarter of 2014 its fastest pace in over a240 words
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Article27 2014-11-26 1 Tuesday Change STI 3,344.99 +4.46 KL COMP 1,838.56 +4.79 NIKKEI 225 17,407.62 +50.11 HANG SENG 23,843.91 -49.23 SHENZHEN B 985.13 +7.21 DOW (11am EST) 17,810.31 -7.5927 words
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Article, Illustration872 2014-11-26 1 Kelly Tay - MTI flags downside risks to 2015 forecast, even as Q3 GDP surprises with 2.8% expansion By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore A LITANY of external risks could throw the official 2-4 per cent growth forecast for 2015 off-course, even as the government announced better-than-expected872 words
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781 2014-11-26 1 Nisha Ramchandani - By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT @Nisha_BT Singapore THE popular Natas travel fair may be in danger of coming apart at the seams. At least 24 travel agencies are pulling out of the upcoming fair on March 27-29 next year, after clashing with781 words
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Advertisement158 2014-11-26 1 *****4 TURNAROUND STRATEGY Sapphire acquiring China-based railway infrastructure firm COMPANIES MARKETS 11 CHANGING MOMENTUM STOCK PICKS CapitaLand, KepLand likely to benefit from China rate cut COMPANIES MARKETS 6 China options traders more bullish STRAIT TALK Taking precautions and carrying on despite Ebola TRANSPORT 24 EXECUTIVE MONEY 29 r Deutsche Bank158 words
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TOP STORIES
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556 2014-11-26 2 Lee U-Wen - Together with mid-year bonus of 0.5 month and 13th-month bonus, the total comes to 2.3 months By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Singapore ALL 82,000 civil servants in Singapore will receive a year-end annual variable component (AVC) bonus of 0.8 month, on top of556 words
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Article, Illustration904 2014-11-26 2 Siow Li Sen - ADB says the region’s cross-border issuances remain active but warns of rising risks By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore EMERGING East Asia’s local currency bond markets continue to expand, with Singapore’s market the fast-est-growing in the third quarter, thePHOTO: BLOOMBERG - 904 words
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Article, Illustration589 2014-11-26 4 Teh Shi Ning - Private consumption expenditure growth slows to 1.2% SINGAPORE ECONOMY By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore SINGAPORE’S overall unit labour cost rose 4.4 per cent in the third quarter of 2014 its fastest pace in over a year as the effects of restructuringSource: Singapore Department of Statistics - 589 words
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Article, Illustration700 2014-11-26 4 Chuang Peck Ming - But NODX is tipped to grow 1-3% next year after picking up in Q314 following two straight quarters of decline By Chuang Peck Ming peckming@sph.com.sg @PeckmingBT Singapore AFTER a likely dip in 2014, non-oil domestic exports (NODX) are tippedSource: IE Singapore - 700 words
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544 2014-11-26 4 Anthony Rowley - By Anthony Rowley btworld@sph.com.sg Tokyo VOLATILITY lies ahead for Asian financial markets, the Asian Development Bank (ADB) warned on Tuesday, as it urged governments in the region to use the relatively slow pace of US monetary tightening to cushion their economic and544 words
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631 2014-11-26 4 Jeffrey Hutton - Minister says: ‘We can’t just rely on consumers and foreign markets.’ By Jeffrey Hutton btworld@sph.com.sg Jakarta INDONESIA’S government is counting on a surge in foreign direct investment to help cushion the impact of high interest rates at home and sluggish demand for commodities631 words
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Article, Illustration697 2014-11-26 5 Jamie Lee - It’s targeting markets like Japan, China and Indonesia; regional sales force to grow 25% over the next 12-18 months By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore BARCLAYS’ wealth management business in Asia is expected to double its revenue by 2019 on697 words
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624 2014-11-26 5 Claire Huang - World’s largest privately-owned insurance broker also aims to lead in the digital commerce area in due course By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE rise of Lockton Inc in the last 48 years to become the world’s largest privately-owned insurance broker624 words
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Advertisement45 2014-11-26 2 FOR WHATEVER PATH YOU TAKE landrover-asia.com mi n Land Rover Singapore Range Rover Evoque Fuel Consumption (combined): 7.8 L/100km. CO2 Emissions (combined): 181 g/km Wearnes Automotive Pte. Ltd. 45 Leng Kee Road Singapore *****3 T: 6378 2626 2627 Leasing Enquiries T: 6876 5063 E: wearnes.leasing@wearnes.com45 words
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Advertisement57 2014-11-26 4 FACT. ERR CRM Software Truly Integrated Fast. Simple. Scalable. Affordable. FACT Software International Pte Ltd (*****6166Z) 10 Hoe Chiang Road #U-07 KeppelTowers Singapore *****5 T+65 *****832 F+65 *****832 www. f a c t s o f t wa re. s g sa les@f a ct sof t wa re. sg57 words
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Advertisement83 2014-11-26 4 VCCIRCLE TRAINING Cch Of® \S5 Learn it from the Valuation Guru Two Day Workshop on Business Valuation with ASWATH DAMODARAN Professor, Stem School of Business Venue Raffles Hotel, Singapore Deep Insights On DCF Model Live Case Studies Valuation of all types of Companies Estimating Cash Flows, Growth Rates Patterns For83 words
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Advertisement17 2014-11-26 4 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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Advertisement58 2014-11-26 5 Here for achievers You are focused on developing the next big thing. Making a difference. As your career takes shape, you want a bank to help manage your financial future. With expert guidance you can trust. That’s good for your ambition. Here for good sc.com/hereforgood Standard Cg Chartered Ik. V58 words
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COMPANIES & MARKETS
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851 2014-11-26 6 Lynette Khoo - The Singapore developers stand to gain from their exposure to the Chinese residential market By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore TWO Singapore developers CapitaLand and Keppel Land are touted by analysts as potential beneficiaries of Beijing’s latest lending rate cut, given851 words
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Article, Illustration432 2014-11-26 6 Claire Huang - By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore SHARES in Pacific Andes Resources Development were sent reeling on Tuesday, falling 26 per cent to S$0.08 on news that the global frozen fish supplier has proposed to raise about S$ 192.3 million inSource: Bloomberg - 432 words
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380 2014-11-26 10 Anita Gabriel - DBS Vickers wins big in AsiaMoney’ s brokers poll CIMB and RHB-OSK-DMG also emerge among the top three ranks in terms of best local brokerage By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore DBS Vickers scored big in Asiamoney’s recently released Brokers Poll for this year, coming out tops as Singapore’s best380 words
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Article, Illustration281 2014-11-26 10 Lee Meixian - TT HOT STOCK By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore SOME dealers were taken aback on Tuesday when transactions involving a huge volume of 129.3 million units in Suntec Reit took place just minutes after the 5pm normal closing, sending the counter toSource: Bloomberg - 281 words
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276 2014-11-26 10 Anita Gabriel - By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore SABANA Shari’ah Compliant Industrial Reit has inked a new financing arrangement with several banks for commodity murabaha facilities of up to S$243 million to refinance and roll over its existing facilities. The new facilities will be fully utilised276 words
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Article, Illustration748 2014-11-26 11 Lee Meixian - Acquisition of Ranken infrastructure for 360m yuan is part of turnaround strategy By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore LOSS-MAKING Sapphire Corporation on Tuesday announced its plans to acquire a China-based engineering, procurement and construction (EPC) business for 360 million yuan (S$75.9 million). This is748 words
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417 2014-11-26 11 Pauline Ng - By Pauline Ng btworld@sph.com.sg Kuala Lumpur PARKSON Holdings Bhd missed core profit estimates in the first quarter to end September as intense competition resulted in the retailer registering negative same-store sales growth (SSSG) in three out of four of its major417 words
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Article, Illustration63 2014-11-26 12 STI Catalist Straits Times index NOV 25,2014 3,344.99 +4.46 (+0.13%) Current streak 1 day Day high 3,348.92 Day low 3,334.12 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index NOV 25,2014 787.67 -7.78 (-0.98%) Current streak 1 day Day high 795.95 Day low63 words
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Article, Illustration655 2014-11-26 12 R Sivanithy - Major reversal in Hong Kong stocks fails to faze ST Index, which closes 4.5 points higher TT STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index traded within a narrow band on Tuesday before ending a net 4.46 points higher at 3,344.99,Source: Bloomberg - 655 words
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Article307 2014-11-26 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 231 +4 233/227 250 206 6.2 5836.7 CapitaLand 333 +1 336/331 348 268 16.7 2.4 *****.9 CapitaMall Trust 198 +0.5 201/198 209 180 5.2 6867.2 CityDev 988 unch 998/988 1118 860 13.4307 words
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Article38 2014-11-26 12 VOLUME Suntec Reit 180,196,000 Top Global 93,093,000 Golden Agri-Res 85,617,000 Advance SCT 74,484,000 Pacific Andes 57,778,000 Market volume 1,918,235,000 VALUE Suntec Reit 347,328,595 SingTel 134,124,895 Olam Intl 86,284,770 DBS Grp 79,374,362 ComfortDelGro 77,090,520 Market value 1,841,810,00038 words
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Article77 2014-11-26 12 Nov 25 VALUE CLOSE BT OB/OS -130.00 +31.00 BT CADI -*****.00 -62.00 BT 10-day MA -*****.00 -13.00 FTSE ST Mid Cap 754.67 +1.58 FTSE ST Small Cap 517.86 -2.46 FTSE ST All Share 804.99 +0.86 FTSE ST China Top 193.07 +0.50 FTSE ST China 227.30 +1.15 FTSE77 words
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Article, Illustration35 2014-11-26 12 STI FTSE ST All-Share FTSE ST All-Share Index NOV 25,2014 804.99 +0.86 (+0.11%) Current streak 1 day Day high 805.35 Day low 802.57 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)35 words
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Article, Illustration33 2014-11-26 12 STI MSCI EAFE MSCI EAFE Index NOV 24,2014 1,832.96 +1.76 (+0.10%) Current streak 2 days Day high 1,836.01 Day low 1,827.19 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 2014-11-26 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 5 8 2 0 0 0 5 8 2 Manufacturing 37 41 46 4 8 10 41 49 56 Commerce 20 21 14 2 6 5 22 27 19 Tpt/Stor/Comms 17 8 13186 words
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Article119 2014-11-26 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 19,652 19,652 96,874 96,874 Manufacturing 283,898 95,678 379,576 139,196 6,487 145,683 Commerce 114,047 29,025 143,072 167,780 1,730 169,510 Tpt/Stor/Comms 131,592 418 132,010 286,804 118 286,922 Finance 20,439 493 20,932 213,556 101 213,657 Construction 117,217 13,840119 words
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Article70 2014-11-26 12 BY CENTS CLOSE UP 52w high/low DBXT MSEurope US$ 5823 188.8 2.6 6492/5366 GLD US$ ***** 63.8 0.4 *****/***** Jardine C&C 4118 43.0 1.1 4901/3330 CIMBASEAN40 S$D 1400 38.0 2.8 1400/1222 UOB 2400 35.0 1.5 2424/1940 BY PERCENTAGE CLOSE UP 52w high/low Sing-eDev w*****0 2.4 140.0 1.4 2.8/0.6 Changjiang70 words
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Article74 2014-11-26 12 BY CENTS CLOSE DOWN 52w high/low JMH USD 6078 -132.8 -1.7 6460/4934 JSH USD 3516 -71.6 -1.5 3810/3006 SembMar.ES.1411 332 -27.0 -7.5 360/332 DairyFarm USD 922 -18.2 -1.5 1090/884 Great Easter 2380 -15.0 -0.6 2415/1732 BY PERCENTAGE CLOSE DOWN 52w high/low GentingSMBeCW15 0.4 -77.8 -1.4 8.1/0.4 Hoe Leong R74 words
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Article83 2014-11-26 12 VOL CLOSE($) CHANGE Pacific Andes 57,778.0 0.080 -0.028 -25.93 Sapphire 33,946.0 0.125 +0.025 +25.00 Changjiang Fert 60.0 0.037 +0.009 +32.14 Full Apex 724.0 0.050 -0.010 -16.67 Noel Gifts Intl 21.0 0.300 +0.030 +11.11 Top Global 93,093.0 0.006 -0.001 -14.29 ChinaKangdaFood 50.0 0.120 +0.020 +20.00 Epicentre 10.0 0.130 +0.02083 words
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BROKERS’ TAKE
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Article131 2014-11-26 12 Hold Nov 25 close: S$1.24 Target price: S$1.18 OSK dmg Research, Nov 25 Keppel Reit on Monday obtained approval from its unitholders to acquire a one-third interest in MBFC Tower 3 for a consideration of S$1.248 billion (S$2,790 psf), inclusive of rental support amounting to S$49 million. Post-acquisition,131 words
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Article125 2014-11-26 12 Buy Nov 25 close: S$0.64 Target price: S$0.92 Am Fraser Research, Nov 25 The recent subscription of warrants by Ezion supports our investment thesis of Triyards’ capabilities in building Self-elevating Units (SEUs or more commonly known as Liftboats). This will also provide a boost to its orderbook potentially125 words
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Article161 2014-11-26 12 Claire Huang - Compiled by Claire Huang Buy Nov 25 close: S$0.96 Target price: S$1.21 Maybank Kim Eng, Nov 25 At a time of aggressive capacity expansion by all the major healthcare glove makers in Malaysia, management believes it can sustain its average selling prices (ASPs) and margins through: 1) constant161 words
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Article31 2014-11-26 12 DATA I 1.00 pm Singapore Industrial Production Index I 9.30 pm US Initial Jobless Claims I 8.00 pm US MBA Mortgage Applications I 9.30 pm US Personal Income and Outlays31 words
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Article106 2014-11-26 12 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap IS MS India US$ US774 -6 246 784/773 790/541 771/774 96.8 STI ETF 338 164 338/337 343/298 338/339 UETF SSE50China 172 +1 68 173/169 173/140 171/172 53.8 DBXT MSINDO us$ US1455 -11 23 1461/1455 1600/1110 DBXT106 words
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357 2014-11-26 13 TT CURRENCIES REUTERS London THE yen rose on Tuesday after Bank of Japan (BOJ) minutes showed the hurdle to further quantitative easing (QE) was high and as the US dollar struggled to make headway before a second reading of US growthREUTERS - 357 words
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FOREX RATES
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Article471 2014-11-26 13 Nov 25 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.969 5.265 0.690 6.651 53.077 104.285 1.011 9.528 2.873 1.097 87.169 38.570 1.117 9.475 0.830 26.512 28.152 0.547 0.858 Canada 1.032 5.433471 words
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Article155 2014-11-26 13 NOV 25 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1166 1.1177 0.8574 0.8576 Canadian dollar 1.1522 1.1535 0.8850 0.8847 Euro 1.6176 1.6191 1.2421 1.2423 NZ dollar 1.0180 1.0192 0.7817 0.7820 Sterling pound 2.0399 2.0421 1.5664 1.5669155 words
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Article22 2014-11-26 13 NOV 25 S$ Bid Offer 1-month 1.3029 1.3042 2-months 1.3030 1.3043 3-months 1.3027 1.3039 6-months 1.3027 1.3040 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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Article374 2014-11-26 13 Nov 25 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.39 *****.39 *****.71 Dec14 *****.00 *****.00 *****.00 *****.00 ***** *****1 Mar15 *****.00 *****.00 *****.00 *****.00 318 5309 MSCI TAIWAN INDEX FUTURES SPOT 340.37 341.60 339.12 Nov14 340.00 341.70 337.80 340.00 *****8 *****1 Dec14 340.30374 words
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219 2014-11-26 13 Most active Nov 25 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****2 13.1 -0.4 6400 0.1 0 7 Top Global Ltd W*****9 0.2 unch 6000 OCBC Bk MB eCW*****3 9.4 0.1 4590 0.2 1060 5 Rowsley219 words
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373 2014-11-26 13 In local curr In S$ In US$ dy yr dy yr dy yr Nov 24 Index Change Change Change Change Change Change World Preliminary 1285.9 0.2 8.6 0.6 8.2 0.1 4.7 EAFE Preliminary 997.3 0.2 4.3 0.6 -1.1 0.1 -4.3 Europe Preliminary 1403.3 0.1 3.6373 words
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BANK RATES
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Article154 2014-11-26 13 Nov 25 $S Offer Bid 0vernight 0.01 0.00 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.22 US$ 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 2014-11-26 13 NOV 25 (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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Article65 2014-11-26 13 Nov 25 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.63 105.65 105.64 5-Year N*****0H 1.625 01-Oct-19 100.62 100.65 100.65 10-Year NY*****H 3.000 01-Sep-24 106.01 15-Year NY*****E 2.875 01-Jul-29 102.55 102.60 102.50 20-Year NZ*****V 3.375 01-Sep-33 108.02 30-Year NA*****N65 words
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AGRI METALS ENERGY
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Article211 2014-11-26 13 NOV-24 Price Net change change Last Trade Agricultural Nov-24 CBOT Soybeans (US cents/bu) 1033.75 -5.25 -0.51% 14/01/2015 CBOT Soybean Oil (US cents/lb) 33.20 0.51 1.56% 12/12/2014 CBOT Wheat (US cents/bu) 542.25 -5.00 -0.91% 12/12/2014 Nov-24 LIFFE Cocoa (£/tonne) 1916.00 22.00 1.16% 12/12/2014 LIFFE Coffee (US$/tonne) 2097.00 21.00 1.01%211 words
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Article57 2014-11-26 13 NOV 25 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2205.0 2201.0 2205.0 2180.0 279 4107 Jan 15 2210.0 2214.0 2220.0 2185.0 2632 ***** Feb 15 2212.0 2217.0 2223.0 2187.0 ***** ***** Mar 15 2219.0 2225.057 words
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Advertisement101 2014-11-26 6 ICON MOMENTS OUT NOW IN BOOKSTORES* K I N O K U N I YA M P H L P O P U L A R T I M E S wxajiim AVi-wu ttKift-i-Ti; xwawi GOOGLE STORE http://goo.gl/lZAySq APP STORE http://goo.gl/NbpRmK I C O N M O M E N101 words
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Advertisement125 2014-11-26 6 Career I Education 2015 f J jM Education I Recruitment I Training 12-14 March 2015 Suntec Singapore Convention Exhibition Centre Halls 403-405 www.careerseries.com.sg 27 YEARS Binco 1988 Asia's Longest Running Career, Education and Training Exhibition We are inviting exhibitors to participate in this exciting event in March offering visitors a125 words
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Advertisement557 2014-11-26 10 Maybank reaches out with Lianhe Zaobao Dynasty Feasts Presented by Maybank Credit Cards and hosted by Lianhe Zaobao. this series of 4 luncheons presented food and entertainment from the era of different Chinese Dynasties. ,3k V t U niMU 1 1 il 1 jf AN ASIAN RES. THE STRAITS TIMES557 words
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Advertisement557 2014-11-26 11 SINGAPORE ART FAIR ME.NA.SA.ART www.singapore-art-fair.com 27-30 November 2014 Suntec Singapore Convention Exhibition Centre Level A, Hall 401 403 Official Champagne CHAMPAGNE pERRIER^JoUET Official Freight Forwarder Agility Official Framer Conservator Singapore Art Fair 2014, the first modern and contemporary art fair in Asia focusing on Middle Eastern, North African, South and557 words
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REAL ESTATE
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Article270 2014-11-26 14 Pictet-Absl Rtn Fxd Inc-HP EUR 20/11/2014 EUR 104,22 Pictet-Absl Rtn Glo Div-P EUR 20/11/2014 EUR 117,05 Pictet-Asian Equities Ex Japan-P USD 21/11/2014 USD 197,92 Pictet-Asian Local Currency Debt-P USD 21/11/2014 USD 147,71 Pictet-Biotech-P USD 20/11/2014 USD 659,69 Pictet-Clean Energy-P USD 20/11/2014 USD 84,00 Pictet-Digital Communication-P USD 20/11/2014 USD 216,39270 words
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595 2014-11-26 14 Claire Huang - It is HDB’s last Build To Order-cum-Sale of Balance Flats exercise for the year By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE Housing and Development Board (HDB) on Tuesday launched its last Build To Order (BTO)-cum-Sale of Balance Flats (SBF)595 words
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Article, Illustration324 2014-11-26 14 Lynette Khoo - By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore JTC Corporation released three industrial sites on Tuesday that are zoned for Busi-ness-2 development or heavier industrial use under its second-half 2014 industrial government land sales (iGLS) programme. The one-hectare site on Tuas324 words
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498 2014-11-26 14 BLOOMBERG Sydney BLACKSTONE Group LP, the biggest landlord of single-family homes in the US, is entering the factory-built housing market for retirees in Australia to tap an ageing population as traditional home prices soar. Blackstone agreed to invest A$ 150 million (S$ 167BLOOMBERG - 498 words
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198 2014-11-26 14 REUTERS London BRITISH banks approved 37,076 mortgages for house purchase in October, the lowest number since May last year, as the housing market continued to slow, the British Bankers’ Association (BBA) said on Tuesday. Mortgage approvals for house purchase fell from 39,12 7 inREUTERS - 198 words
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443 2014-11-26 14 Jamie Lee - By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore GIC on Tuesday said it would partner Rajawali Group, one of the largest investment companies in Indonesia, in jointly investing up to US$ 500 million in equity in property projects in Indonesia a sign of443 words
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Advertisement914 2014-11-26 14 Shop ONLINE www.oaks.com.s It's A ‘Discovery! OAKS Intense aromas of citrus, fresh cut grass and some floral notes... Gipsie Jack Adelaide Hills Sauvignon Blanc 2013 wineshop Usual: SS52.00 NOW! S$29.90 I The Business Times NOTICES In the matter of The Companies Act, Cap. 50 and In the matter of ZYLAB914 words
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BANKING & FINANCE
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Article, Illustration1071 2014-11-26 15 Thai central bank named its first woman chief in 2006; 31 of its 60 top execs and over half of all staff are women BLOOMBERG Bangkok JANET Yellen’s appointment as Federal Reserve chair this year was hailed as anotherBLOOMBERG; PHOTO: BLOOMBERG - 1,071 words
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642 2014-11-26 15 BLOOMBERG Kuala Lumpur MALAYSIA’S state-owned sovereign wealth fund Khazanah Nasional Bhd is giving the government’s green financing initiative a boost with a plan to sell the nation’s first sukuk under socially responsible investment (SRI) guidelines. Khazanah is considering issuing a benchmark-sized ringgit-denominat-ed IslamicBLOOMBERG - 642 words
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391 2014-11-26 15 REUTERS Jakarta LOOSER liquidity rules for banks in Indonesia are unlikely to have the intended effect of boosting lending growth as a simultaneous rise in interest rates at a time when the economy is slowing down will curb credit demand. TheREUTERS - 391 words
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Advertisement160 2014-11-26 15 Art Exhibition Wide selection of established and promising Singapore’s and SEA’s Artists. Consider an artwork as a unique gift? www.datangfinearts.com *1 Coleman Street, #B1-31, The Adelphi, S (*****3). *1 North Bridge Road, #B1-09, High Street Centre, S (*****4) 8268 5299 9846 2098 Collect SG artists’ works before SG50, hurry limited160 words
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ENERGY & COMMODITIES
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Article, Illustration725 2014-11-26 16 Cash-strapped farmers forced to cut back on fertilisers, pesticides and replanting, which will reduce output in coming years REUTERS Jakarta A PROLONGED fall in the price of palm oil is hitting Indonesia’s legions of smallholder farmers, forcing cutbacks thatREUTERS; PHOTO: REUTERS - 725 words
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Article, Illustration827 2014-11-26 16 AFP Riyadh OPEC’s biggest crude producer Saudi Arabia will have its sights set on the upstart US shale oil business at a crucial cartel meeting to debate possible output cuts on Thursday. Analysts say the kingdomAFP; PHOTO: REUTERS - 827 words
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641 2014-11-26 16 BLOOMBERG Sydney AUSTRALIA is delivering the worst junk bond losses this year among major nations as a commodities rout undermines resources companies and mining service providers. With iron ore and coal plunging to five-year lows, speculative-grade notes from Australian companies delivered aBLOOMBERG - 641 words
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Advertisement1617 2014-11-26 16 THE BUSINESS TIMES NOTICES PERSTORP SINGAPORE PTE LTD COMPANY REGISTRATION NO. *****7827W (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF MEETING OF CREDITORS NOTICE IS HEREBY GIVEN that a meeting of the creditors of the abovenamed company will be held at One Marina Boulevard 30th Floor Singapore *****9 on the1,617 words
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TECHNOLOGY
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Article, Illustration947 2014-11-26 17 As sharing becomes easier, collaboration and outsourcing will increase, and companies will specialise more NYT New York TECHNOLOGY has been accused of making many a job disappear, on the production line or in the accounting office. And it is not doneNYT; PHOTO: BLOOMBERG - 947 words
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Article, Illustration443 2014-11-26 17 Twitter CFO accidentally goes public with a private message he sent about plans to buy a company BLOOMBERG San Franciso TWITTER Inc has just tripped up one of its top executives. Chief Financial Officer Anthony Noto publicly tweeted about a plan heBLOOMBERG - 443 words
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720 2014-11-26 17 BLOOMBERG New York WECHAT, one of China’s most popular mobile-messaging applications, is turning to thousands of students studying in the US to spread its usage across the country. One of those is Xiaoxing Han, who graduated last year from MichiganBLOOMBERG - 720 words
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Advertisement32 2014-11-26 17 Attend our SEMINAR to discover property investment tips and hot Malaysian projects! Plus! Enjoy a buffet lunch and stand to win an iPhone 6 Limited seats available, register now! www.stproperty.sg/event r' 'I32 words
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CONSUMER
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409 2014-11-26 18 Chan Yi Wen - Manpower-dependent subsectors such as restaurants and cafes suffer significant decrease in tourist satisfaction By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore CUSTOMER satisfaction, especially among tourists, in Singapore’s tourism and food beverage (F&B) sectors fell from that a year ago. Based on409 words
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Article, Illustration768 2014-11-26 18 BLOOMBERG Tokyo SONY Corp said it can still make money from smartphones by selling camera components to competitors of its own Xperia models. Revenue from the business that makes sensors, camera modules and memory storage will rise to 1.3 trillion yen (S$14.4BLOOMBERG; PHOTO: REUTERS - 768 words
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717 2014-11-26 18 BLOOMBERG New Delhi XIAOMI Corp is delaying aggressive plans to expand into five more countries this year as the Chinese smartphone maker talks with Foxconn Technology Group about boosting production of the low-cost devices. Xiaomi and Foxconn are discussing making phonesBLOOMBERG - 717 words
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376 2014-11-26 18 BLOOMBERG London BAYER AG is exploring the sale of its diabetes device business as the German company focuses on fast-er-growing medicines, according to people with knowledge of the matter. Leverkusen, Germany-based Bayer is working with Credit Suisse Group AG on the potentialBLOOMBERG - 376 words
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Advertisement285 2014-11-26 18 Trend Following with Michael Covel As Featured on: How does Trend Following work? Trend following is a very straightforward trading strategy that can extract profits from up, down and black swan markets (rare or surprise events). For example, pretend you have no idea what way a market will go or285 words
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Advertisement46 2014-11-26 18 URBANATHLON 2015 TESTYOURSTRENGTH. CHALLENGEYOURSPIRIT. 14KM ROUTE, 9 URBAN OBSTACLES SIGN UP NOW FOR THE EARLY BIRD SPECIAL! MARCH 1, 2015 7AM KALLANG PRACTICE TRACK Prove your mettle in Singapore’s toughest race, which has new obstacles, old favourites and a mystery challenge! SIGN UP AT MENSHEALTH.COM.SG MOREDETAILSINTHISISSUEOFMEN’SHEALTH46 words
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GOVERNMENT & ECONOMY
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Article, Illustration673 2014-11-26 19 Anthony Rowley - The BOJ will keep up its monetary-easing moves to get to the inflation target, vows its governor By Anthony Rowley btworld@sph.com.sg Tokyo THE Bank of Japan (BOJ) will continue aggressive monetary easing, insisted governor Haruhiko Kuroda on Tuesday, despite rising concerns over the673 words
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Article, Illustration662 2014-11-26 19 AFP Hong Kong HONG Kong police arrested 80 people on Tuesday as scuffles broke out when demonstrators tried to block the authorities from clearing part of a pro-democracy protest site after nearly two months of rallies. The arrests cameAFP; PHOTO: AFP - 662 words
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Article, Illustration745 2014-11-26 19 BLOOMBERG Rio de Janeiro THE corruption scandal at Petroleo Brasileiro SA (Petrobras) that has spread to Brazil’s biggest builders is threatening to derail President Dilma Rousseff’s efforts to revive Latin America’s largest economy. The TCU, a federal court that acts asBLOOMBERG; PHOTO: REUTERS - 745 words
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448 2014-11-26 19 AFP Paris THE weak eurozone economy poses a key threat to global growth, the OECD warned on Tuesday, urging more flexibility in fiscal rules for struggling EU members like France and Italy to prevent another recession. Forcing the two major European economies to meetAFP - 448 words
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Article, Illustration891 2014-11-26 20 Central bank governor has a track record of consecutive steps and so his latest rate cut is unlikely to be a one-off BLOOMBERG Beijing IN his 12 years as People’s Bank of China (PBOC) governor, Zhou Xiaochuan has never stopped at a singleBLOOMBERG; PHOTO: BLOOMBERG - 891 words
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Article, Illustration765 2014-11-26 20 If anything, it may represent the final triumph of a White House-centric approach to national security Washington RIGHT after US President Barack Obama announced the resignation of Defense Secretary Chuck Hagel at the White House, he walked over to a meeting of hisPHOTO: REUTERS - 765 words
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Article, Illustration977 2014-11-26 20 BLOOMBERG Mexico City MEXICO’S booming automobile industry is generating more export dollars than oil, building more cars than Brazil and giving a job to Esmeralda Velazquez. What it isn’t doing is raising her living standards. The 37-year-old machineBLOOMBERG; PHOTO: BLOOMBERG - 977 words
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315 2014-11-26 20 REUTERS Beijing PROFIT growth of China state-owned firms quickened slightly in the first 10 months of 2014, but there is little sign of a turnaround as factories struggle to cope with falling prices and sluggish demand. State-owned non-financial companies made combinedREUTERS - 315 words
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Article, Illustration556 2014-11-26 21 This is due to bigger gains in consumer spending and business investment LATEST US DATA BLOOMBERG Washington THE economy in the US expanded more than previously forecast in the third quarter, reflecting bigger gains in consumer spending and business investment and cappingBLOOMBERG; PHOTO: AFP - 556 words
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317 2014-11-26 21 REUTERS New Delhi THE United States and India held their first round of formal trade talks in four years on Tuesday, seeking to capitalise on the resolution of a global trade dispute to repair a dialogue that had fallen intoREUTERS - 317 words
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481 2014-11-26 21 REUTERS London EUROZONE bond yields plumbed new record lows on Tuesday, as financial markets took comfort from European Central Bank (ECB) president Mario Draghi’s vow to lift inflation from near zero by whatever means necessary. Spanish 10-year yields were belowREUTERS - 481 words
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644 2014-11-26 21 But 1.2% growth forecast for next year may have to be revised, says Economy Minister Alexei Ulyukayev REUTERS MOSCOW RUSSIA’S economy is likely to grow by 0.7-0.8 per cent in 2014 but next year’s 1.2 per cent growth forecast may have to beREUTERS - 644 words
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Article, Illustration767 2014-11-26 21 REUTERS Ferguson THE St Louis area in Missouri braced itself for another day of protests after a grand jury cleared a white police officer in the fatal August shooting of an unarmed black teenager, sparking a nightREUTERS; PHOTO: REUTERS - 767 words
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Page 19 Advertisements
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Advertisement16 2014-11-26 19 Totalfunds raisedby IPOmarket here thisyear lessthan halfofthat in2013 To subscribe, call 6388-3838 or go to sphsubscription.com.sg16 words
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OPINION
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597 2014-11-26 22 EDITORIAL WHEN it comes to saving taxpayers’ money, Indonesian President Joko Widodo has already left a rather lasting impression since his inauguration on Oct 20. He made headlines last week when he ditched the presidential jet and instead flew597 words
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Article, Illustration830 2014-11-26 22 Robert Samuelson - TT THE BOTTOM LINE By Robert Samuelson The Washington Post Writers Group Washington THE United States-China agreement on climate change is a huge political triumph, possibly “historic”, as its supporters say. Whether it much alters the world’s climate is a more openThe Washington Post Writers Group - 830 words
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Article, Illustration1149 2014-11-26 22 Leon Hadar - With US global positions seen eroding, and the power of ISIS, Russia and China rising, Republicans may be in a position to make it even harder for him to achieve his aim By Leon Hadar WHEN he first ran for president in 2008,PHOTO: BLOOMBERG - 1,149 words
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952 2014-11-26 23 Mark Billington - TT COMMENTARY By Mark Billington TThe writer is South-east Asia regional director for ICAEW AT the beginning of November, the United Nations published its latest report on climate change, which makes for sober reading. It warns that unless emissions are dramatically lowered in952 words
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LETTERS TO THE EDITOR
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633 2014-11-26 23 Tan Kok Tim - Tan Kok Tim I REFER to the article, “In audits, if something feels wrong, it probably is” (BT, Nov 21), especially the point “One example of a tool that supports such objectives is the multi-fac-tor authentication that is ubiquitous in e-commerce”. I believe633 words
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937 2014-11-26 23 Vincent Khoo - Vincent Khoo S NALLAKARUPPAN is correct in saying “the silence in the dealing rooms of late is deafening it is quieter than the library” (“MAS, SGX and market players pow-wow needed”, BT, Nov 18). But it’s not the whole truth; the937 words
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Article, Illustration1065 2014-11-26 23 ANDREW HAMMOND - Prospects for permanent agreement remain uncertain given gaps between parties and Republican opposition in US.BY ANDREW HAMMOND US.BY ANDREW HAMMOND T The writer is an associate at LSE IDEAS at the London School of Economics, and a former UK government special adviserPHOTO: AFP - 1,065 words
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TRANSPORT
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Article, Illustration407 2014-11-26 24 Nisha Ramchandani - Traffic from India boosts arrivals; that from Thailand and China rise following slumps most of this year By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore BOOSTED by robust passenger traffic to and from South Asia, passenger numbers at Changi Airport increased 1.9 per centFILE PHOTO - 407 words
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Article, Illustration903 2014-11-26 24 DAVID HUGHES - TT STRAIT TALK BY DAVID HUGHES THE global shipping industry’s response to the outbreak of the deadly Ebola virus in West Africa has been to do what long experience of deadly challenges has taught it: take reasonable precautions and carry on. In September,PHOTO: REUTERS - 903 words
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538 2014-11-26 24 S Jayasankaran - The kickers are start of key customer alliance, renewal of investment Tax Allowance, govt nod to raise port tariffs By S Jayasankaran btworld@sph.com.sg Kuala Lumpur THE shares of Westports Holdings leapt over 4 per cent to RM3.42 apiece on Tuesday,538 words
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335 2014-11-26 24 BLOOMBERG Atlanta US airlines have waived their rebooking fees as winter weather struck the Chicago area and threatens the north-east as the Thanksgiving travel season approaches. With snow falling at Chicago’s O’Hare International Airport, United Continental Holdings Inc waived its customaryBLOOMBERG - 335 words
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Article, Illustration1047 2014-11-26 25 Its failure in reporting to regulators more than 1,700 claims of injury or death involving its cars could lead to penalty of US$35m CAR SAFETY LAPSES BLOOMBERG Tokyo HONDA Motor Co said it failed to report more than 1,700 claims ofBLOOMBERG; PHOTO: REUTERS - 1,047 words
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Article, Illustration558 2014-11-26 25 BLOOMBERG New York AMID the worst safety-defect crisis in its history, General Motors Co executives and staff have taken to social media to find customer complaints and identify quality issues long before they become a crisis. GM, which faces lawsuitsBLOOMBERG; PHOTO: BLOOMBERG - 558 words
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327 2014-11-26 25 AFP Washington TWO senior US senators called on embattled Japanese car parts maker Takata to furnish them with 14 years of extensive records and data on the company’s faulty airbags. Senators Jay Rockefeller and Bill Nelson said on MondayAFP - 327 words
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653 2014-11-26 25 It targets up to US$1 b of private investment by 2017 to build vital links to ports REUTERS New Delhi INDIA is targeting up to US$1 billion of private investment by 2017 to build rail lines linking ports and national networks to easeREUTERS - 653 words
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Article1706 2014-11-26 26 MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK JKT SUR DREAM ANGEL 7 100 30/11 1/12 –MALAYSIA STAR 40 50 8/12 9/12 13/12 15/12 KAISA 21,706 words
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Page 26 Advertisements
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Advertisement366 2014-11-26 26 C a il a n E n n o r e J e d d a h B r Shanghai Chittagong i s b a n e Ho Chi Minh H o n g J e b e lA NYK RORO (ASIA) PTE. LTD. K o n g REGULAR SERVICE366 words
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LIFE & CULTURE
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Article, Illustration964 2014-11-26 28 Tay Suan Chiang - Three designers bag the nation’s highest honour with the President’s Design Award By Tay Suan Chiang Taysc@sph.com.sg @TaySuanChiangBT LARRY Peh, creative director of &Larry, adds the President’s Design Award to a long list of accolades he has garnered over the years. Since he started hisPHOTOS: PRESIDENT’S DESIGN AWARD - 964 words
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Article, Illustration809 2014-11-26 28 NYT New York THE letters of transit “signed by General de Gaulle, cannot be rescinded, not even questioned” were hidden under its unusual hinged lid. It is golden yellow with touches of green and gold, a surprise to people who know it only from itsNYT; PHOTO: NYT - 809 words
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Page 28 Advertisements
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Advertisement13 2014-11-26 28 Call 1800 289 8822 or e-mail notices@sph.com.sg to publicise your IPOs other offerings13 words
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Page 28 Miscellaneous
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Miscellaneous302 2014-11-26 28 CRYPTIC CROSSWORD Across 1 Agent in pursuit of man is a criminal (10) 6 A touch of style (4) 10 Business tycoon’s doctor glumly sacking regulars (5) 11 Wild dog rose at the rear entrance (5,4) 12 Strange fancy from member of academy on strike (7) 13 Notable source of302 words
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EXECUTIVE MONEY
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Article493 2014-11-26 30 TT ON THE RADAR GLOBAL mutual funds were net buyers of Singapore stocks in the three months to Nov 19. Based on net buys of the top five stocks in terms of volume, there were net buys of about S$1.9 billion compared to net sells493 words
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800 2014-11-26 30 Hedge fund Universa Investments has been set up to make money in an economic and financial collapse NYT New York THE stock market has been rising for years, hitting new highs almost every week. So how is it that one of Wall Street’s mostNYT - 800 words
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Article, Illustration1198 2014-11-26 29 Momentum has turned, say fund managers, with surprise interest rate cut and Shanghai-Hong Kong exchange link BLOOMBERG OPTIONS traders keep finding new reasons to get bullish on Chinese stocks. First an acceleration in government spending sent the biggest Chinese ex-change-traded fund in the US toBLOOMBERG; PHOTO: AFP - 1,198 words
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Article, Illustration728 2014-11-26 29 BLOOMBERG Shanghai SO much money is chasing after China’s next round of initial public offerings (IPOs) that the nation’s US$4.3 trillion stock market has become hostage to the fundraising plans of companies seeking just US$1.3 billion. As brokers takeBLOOMBERG; PHOTO: REUTERS - 728 words
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377 2014-11-26 29 BLOOMBERG Beijing SMOKERS who light up at indoor public areas could be fined as much as 500 yuan (S$ 106) and operators who don’t stop them may have licences revoked under a proposed law as China considers stricter tobacco control. Operators would be required toBLOOMBERG - 377 words
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Advertisement129 2014-11-26 30 J 1.1 THETOP CFD PROVIDER OFFERS TOP TRADERS THE SECURITY OF A FTSE LISTING As the world's No.1 CFD provider,* we also offer traders 40 years of experience, 24-hour support, and an award-winning platform. Losses can exceed your initial investment. Find out more today at IG.com.sg or call +65 6390129 words
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Advertisement23 2014-11-26 30 CHINESE STOCKS China options traders more bullish 29 CHINA’S AMERICAN-STYLE IPO Why US$4t of China stocks are hostage to a few IPOs 2923 words
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