The Business Times, 10 December 2014
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2014-12-10
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The Business Times
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Title Section30 2014-12-10 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, December 1030 words
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Article, Illustration218 2014-12-10 1 Faced with a tight labour market, more companies in Singapore are providing flexible work arrangements via part-time work, staggered hours, and formal teleworking. TOP STORIES 2 A new glaucoma drug delivery solution developed by local biotech startup Peregrine Ophthalmic has attracted inquiries from the world’s top five pharmaceutical218 words
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Article27 2014-12-10 1 Tuesday Change STI 3,319.84 +22.00 KL COMP 1,738.10 -2.74 NIKKEI 225 17,813.38 -122.26 HANG SENG 23,485.83 -561.84 SHENZHEN B 993.68 -22.01 DOW (11am EST) 17,682.13 -170.3527 words
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Article, Illustration894 2014-12-10 1 Cai Haoxiang - But some expect rally to continue on opening of China’s stock market and relatively cheap valuations By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore AS investors pulled back sharply from China’s stock market on Tuesday afternoon after a multi-year high on Monday, some observersSource: Bloomberg - 894 words
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Article, Illustration1110 2014-12-10 1 Lynette Khoo - By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore IN a push to make property indices more reflective of market changes, the Housing Development Board (HDB) the first among official agencies here to change the way it computes its price index has unveiled details onSource: URA; BT Graphics: Lynette Khoo, Ludwig Ilio - 1,110 words
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Page 1 Advertisements
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Advertisement300 2014-12-10 1 *****4 STRAIT TALK Rescuing refugees off the high seas TRANSPORT 20 RESIDENTIAL PROPERTY SOVEREIGN WEALTH FUND The transformation of GIC Resales of condos, apartments up 6.6% in Nov OPINION 19 ETFs Investors back off from bets on inflation REAL ESTATE 10 EXEC MONEY 26 V----L T A Seamless travel with300 words
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TOP STORIES
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Article, Illustration509 2014-12-10 2 Kelly Tay - But share of employers giving marriage and compassionate leave has dipped since 2012 By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore FACED with a tight labour market, more companies in Singapore are providing flexible work arrangements via part-time work, staggered hours, and formal tele-working. But the509 words
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625 2014-12-10 3 Claire Huang - But opposing camp has made ‘untrue’ remarks in dispute, says Natas chief By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore THE National Association of Travel Agents Singapore (Natas) holds out hope of a reconciliation with the group of travel agencies that broke away from625 words
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804 2014-12-10 3 Edward Hadas - By Edward Hadas &JS REUTERS BREAKINGVIEWS THE global growth dividend from falling oil prices risks getting overhyped. Crude’s sharp decline is widely seen as good for a still struggling economy. Yet its main impact isn’t to boost total world output but change the distribution&JS REUTERS BREAKINGVIEWS - 804 words
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384 2014-12-10 3 REUTERS London BRENT crude oil hit a fresh five-year low on Tuesday before rebounding to near US$67 a barrel, as some buyers emerged in the hope that prices are bottoming following a more than 40 per cent slide since June. Fast-growing USREUTERS - 384 words
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Article, Illustration551 2014-12-10 4 Lee U-Wen - Besides briefings in Seoul, he will attend a summit in Busan to mark 25 years of Asean-Seoul dialogue By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Busan, South Korea PRIME Minister Lee Hsien Loong will travel to South Korea on Wednesday for a three-dayFILE PHOTO - 551 words
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690 2014-12-10 4 Claire Huang - By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore “FIRST you have my interest, now you have my attention.” And that is what local biotech startup Peregrine Ophthalmic managed to do, in the words of associate professor Tina Wong, who was describing how690 words
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Advertisement45 2014-12-10 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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Advertisement67 2014-12-10 3 Here for generations You have spent a lifetime growing your business and building wealth. Now you want future generations to understand the responsibilities that come with it. Supported by the bank that helps them aim higher. That’s good for a legacy beyond wealth. Here for good sc.com/hereforgood IS ss s67 words
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Advertisement136 2014-12-10 4 E X P E R I E N C E THE NEW LUXURY BTLuxe Christmas 2014. In print and on your iPad. Digital exclusives only in the BTLuxe iPad app: TheGreatSafariAdventure VisittheHouseofLaurent-Perrier Download it now for free at the App Store Luxe Win a pair of Business Class tickets to136 words
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COMPANIES & MARKETS
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Article, Illustration775 2014-12-10 5 Siow Li Sen - Republic remains an ideal listing venue for many corporates in the region with its robust regulatory framework, corporate governance standards, and a big pool of investible funds By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore RIDING on Asia’s buoyant economies, next year will775 words
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698 2014-12-10 5 Malminderjit Singh - By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore DECLINING oil prices have wiped off nearly S$5.77 billion from the market capitalisation of offshore and marine (O&M) companies listed on Singapore Exchange (SGX) in one month, as the industry698 words
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Article, Illustration887 2014-12-10 6 R SIVANITHY - TT HOCK LOCK SIEW R SIVANITHY sivan@sph.com.sg @RSivanithyBT THE Singapore Exchange (SGX) has taken a fair amount of criticism for the way trading has deteriorated over the past year since the penny crash of October 2013, a situation not helpedST FILE PHOTO - 887 words
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573 2014-12-10 6 BLOOMBERG Singapore APS Asset Management, which invests more than US$2 billion in Chinese stocks, expects the country’s stock markets to extend this year’s rally even without extra government stimulus. The CSI 300 Index has increased 26 per cent since the People’s Bank ofBLOOMBERG - 573 words
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535 2014-12-10 7 Kenneth Lim - Goldman Sachs sees solid, sustained earnings growth over the next two years; exchange says it is not aware of any reason for the unusual trading activity By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore PROFITS at the Singapore Exchange (SGX) have turned the corner,535 words
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257 2014-12-10 7 Malminderjit Singh - By Malminderjit Singh msingh@sph.com.sg @MalminderjitBT Singapore BARCLAYS Capital has upgraded its rating for the stock of Neptune Orient Lines (NOL), saying it sees value emerging for the counter. Since it was revealed on Aug 21 that the Singapore shipping group was considering the potential sale257 words
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Article, Illustration286 2014-12-10 7 Kenneth Lim - By Kenneth Lim kenlim@sph.com.sg @KennethLimBT Singapore A MALAYSIAN advocacy group has recognised Securities Investors Association of Singapore (SIAS) president David Gerald for his contributions to corporate governance and investors’ rights. Mr Gerald, who founded and leads the Singapore investors’ rights organisation, received theFILE PHOTO - 286 words
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Article, Illustration63 2014-12-10 8 STI Catalist Straits Times Index Dec 9,2014 3,319.84 +22.00 (+0.67%) Current streak 1 day Day high 3,334.93 Day low 3,306.75 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist index Dec 9,2014 726.67 -8.49 (-1.15%) Current streak 2 days Day high 733.13 Day low63 words
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Article, Illustration634 2014-12-10 8 R Sivanithy - Broad market posts 263 declines against 156 advances even as the index gains 22 points TT STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT A SUDDEN push on the shares of banks, SingTel and the Singapore Exchange (SGX) helped propel the Straits Times IndexSource: Bloomberg - 634 words
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Article307 2014-12-10 8 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 231 +2 231/229 250 206 6.2 5836.7 CapitaLand 328 +2 331/325 348 268 16.4 2.4 *****.3 CapitaMall Trust 198.5 +0.5 199.5/196.5 209 180 5.2 6884.6 CityDev 1000 +9 1003/995 1118 860 13.6307 words
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Article35 2014-12-10 8 VOLUME Digiland Intl 263,613,000 SIIC Environment 114,333,000 IHC 71,446,000 Advance SCT 47,777,000 Ezion 42,601,000 Market volume 1,833,248,000 VALUE OCBC Bank 100,028,140 DBS Grp 94,254,525 SingTel 85,984,060 UOB 66,736,430 SGX 61,001,330 Market value 1,196,299,00035 words
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Article109 2014-12-10 8 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap UETF SSE50China 195 -20 445 215/194 217/140 195/197 60.9 DBXT CSI300 US$ US876 -54 139 958/850 958/613 876/879 ABF SG Bond ETF 116.5 +0.5 41 117/116.5 118/110.2 116.1/116.5 531.8 Lyxor Cmdty US231 -3 39 231/231 294/231109 words
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Article77 2014-12-10 8 Dec 9 VALUE CLOSE BT OB/OS -754.00 -27.00 BT CADI -*****.00 -89.00 BT 10-day MA -*****.00 -76.00 FTSE ST Mid Cap 739.80 -1.46 FTSE ST Small Cap 489.26 -3.73 FTSE ST All Share 794.89 +3.49 FTSE ST China Top 184.97 -0.64 FTSE ST China 222.13 -0.66 FTSE77 words
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Article, Illustration35 2014-12-10 8 STI FTSE ST All-Share FTSE ST All-Share Index Dec 9,2014 794.89 +3.49 (+0.44%) Current streak 1 day Day high 797.91 Day low 792.59 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)35 words
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Article, Illustration33 2014-12-10 8 STI MSCI EAFE MSCI EAFE Index Dec 8,2014 1,824.74 -7.37 (-0.40%) Current streak 1 day Day high 1,833.92 Day low 1,821.74 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 2014-12-10 8 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 6 8 2 0 0 0 6 8 2 Manufacturing 28 64 37 0 11 14 28 75 51 Commerce 12 23 20 5 8 1 17 31 21 Tpt/Stor/Comms 12 15 13186 words
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Article123 2014-12-10 8 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 21,475 21,475 79,309 79,309 Manufacturing 159,840 51,534 211,374 91,320 2,776 94,096 Commerce 353,984 38,042 392,026 69,474 2,616 72,090 Tpt/Stor/Comms 94,749 319 95,068 188,113 116 188,229 Finance 47,582 407 47,989 329,054 88 329,142 Construction 24,922 11,278123 words
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Article75 2014-12-10 8 BY CENTS CLOSE UP 52w high/low DBXT China50 US$ 3353 180.6 4.3 3367/2577 GLD US$ ***** 117.3 0.8 *****/***** Jardine C&C 4353 90.0 2.1 4901/3330 DBS Grp 1986 36.0 1.8 2002/1565 SGX 760 25.0 3.4 765/666 BY PERCENTAGE CLOSE UP 52w high/low CN8000MBePW*****0 6.8 134.5 3.9 6.8/2.2 NOL MB75 words
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Article80 2014-12-10 8 BY CENTS CLOSE DOWN 52w high/low SPDR S&P500 US$ ***** -271.5 -1.0 *****/***** JMH USD 5900 -155.5 -2.0 6460/4934 DBXT Vietam US$ 2740 -81.7 -2.2 3100/2384 DBXT CSI300 US$ 876 -71.2 -5.8 958/613 DBXT MSCHINA US$ 1322 -65.9 -3.6 1401/1119 BY PERCENTAGE CLOSE DOWN 52w high/low Advance SCT 0.180 words
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Article84 2014-12-10 8 VOL CLOSE($) CHANGE Luxking 270.0 0.018 -0.003 -14.29 Pan Asian 53.0 0.040 +0.009 +29.03 Advance SCT 47,777.0 0.001 -0.001 -50.00 Hengyang Petro 141.0 0.215 -0.025 -10.42 Zhongxin Fruit 60.0 0.023 -0.007 -23.33 Noel Gifts Intl 22.0 0.290 +0.025 +9.43 Hiap Seng 234.0 0.156 -0.022 -12.36 Lippo Malls Tr84 words
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BROKERS’ TAKE
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Article135 2014-12-10 8 Hold Dec 9 close: S$0.315 Target price: S$0.37 OCBC Investment Research, Dec 9 Last week, Petronas announced that it is looking to cut capital expenditure for new projects by 15-20 per cent next year should oil prices remain low. The earlier RM300 billion (S$113.5 billion) capex planned for135 words
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Article102 2014-12-10 8 Neutral Dec 9 close: S$1.485 Target price: S$1.55 JPMorgan Research, Dec 9 We assume coverage of Mapletree Industrial Trust (MINT) with a “neutral” rating and a December 2015 PT (price target) of S$1.55 (“neutral” rating and December 2014 PT of S$1.45 prior to “not rated” designation). MINT’s102 words
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Article206 2014-12-10 8 Kenneth Lim - Compiled by Kenneth Lim Buy Dec 9 close: S$2.57 Target price: S$3.42 DBS Group Research, Dec 9 Global Logistic Properties (GLP) announced that it will co-invest with GIC to acquire a US$8.1 billion US logistics portfolio from Blackstone. This investment into the US might be deemed negative206 words
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Article12 2014-12-10 8 DATA I 8.00pm US MBA Mortgage Applications I 9.30am China CPI12 words
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401 2014-12-10 9 TT CURRENCIES AFP Tokyo THE US dollar edged down against the yen on Tuesday following a dip in New York, although analysts expect further advances for the greenback as monetary policy in Japan and the United States diverges. The US dollar bought 120.18AFP - 401 words
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FOREX RATES
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Article471 2014-12-10 9 Dec 9 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.948 5.111 0.669 6.404 51.123 101.879 0.989 9.162 2.876 1.078 83.420 36.794 1.089 9.503 0.804 25.767 27.212 0.527 0.826 Canada 1.055 5.392471 words
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Article155 2014-12-10 9 Dec 9 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0888 1.0895 0.8260 0.8262 Canadian dollar 1.1485 1.1495 0.8717 0.8712 Euro 1.6274 1.6286 1.2346 1.2350 NZ dollar 1.0101 1.0109 0.7663 0.7666 Sterling pound 2.0671 2.0686 1.5681 1.5687155 words
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Article22 2014-12-10 9 Dec 9 S$ Bid Offer 1-month 1.3190 1.3198 2-months 1.3193 1.3202 3-months 1.3188 1.3196 6-months 1.3190 1.3197 Source: OCBC22 words
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EQUITY BONDS WARRANTS FUTURES
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205 2014-12-10 9 Most active Dec 9 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left DBS MB eCW*****2 12.3 0.9 6705 0.1 0 6 OCBC Bk MB eCW*****3 8.4 1 6510 0.2 1060 4 KepCorp MB eCW*****2 8.2 0.2 5767 0.2 900205 words
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373 2014-12-10 9 In local curr In S$ In US$ dy yr dy yr dy yr Dec 8 Index Change Change Change Change Change Change World Preliminary 1288.9 -0.4 8.8 -0.5 9.1 -0.3 4.3 EAFE Preliminary 1007.0 -0.5 5.3 -0.5 -0.4 -0.4 -4.7 Europe Preliminary 1410.5 -0.8 4.1373 words
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Article362 2014-12-10 9 Dec 9 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.24 *****.16 *****.30 Dec14 *****.00 *****.00 *****.00 *****.00 *****7 *****8 Mar15 *****.00 *****.00 *****.00 *****.00 ***** ***** MSCI TAIWAN INDEX FUTURES SPOT 338.80 339.40 337.70 Dec14 339.60 340.00 337.10 337.60 ***** *****5 Jan15 339.90362 words
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BANK RATES
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Article154 2014-12-10 9 Dec 9 $S Offer Bid 0vernight 0.05 0.01 1-month 0.4375 0.3125 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.20 US$ 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 2014-12-10 9 Dec 9 (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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Article67 2014-12-10 9 Dec 9 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.38 105.45 105.41 5-Year N*****0H 1.625 01-Oct-19 100.48 10-Year NY*****H 3.000 01-Sep-24 106.44 106.55 106.25 15-Year NY*****E 2.875 01-Jul-29 103.74 103.90 103.65 20-Year NZ*****V 3.375 01-Sep-33 109.38 109.40 109.4067 words
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AGRI METALS ENERGY
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Article212 2014-12-10 9 Dec-08 Price Net change change Last Trade Agricultural Dec-08 CBOT Soybeans (US cents/bu) 1043.75 7.75 0.75% 14/01/2015 CBOT Soybean Oil (US cents/lb) 31.77 -0.24 -0.75% 12/12/2014 CBOT Wheat (US cents/bu) 610.00 1.00 0.16% 12/12/2014 Dec-08 LIFFE Cocoa (£/tonne) 1980.00 2.00 0.10% 12/12/2014 LIFFE Coffee (US$/tonne) 2014.00 -24.00 -1.18%212 words
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Article57 2014-12-10 9 Dec 9 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Dec 14 2138.0 2107.0 2138.0 2120.0 297 1888 Jan 15 2144.0 2130.0 2164.0 2119.0 1415 ***** Feb 15 2144.0 2130.0 2168.0 2119.0 ***** ***** Mar 15 2164.0 2135.057 words
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Advertisement13 2014-12-10 5 RADA EYEWEAR r', •> tx I f. Homes McAvoy gfgYid, May 2014 BHrrv f13 words
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Advertisement56 2014-12-10 6 FACT. ERR Software takes too long to Implement. Ask how we do things differently. Call us today! ERP+CRM Software A truly integrated solution Serving Singapore companies proudly for 22 years FACT Software International Pte Ltd (*****6146Z) 10 Hoe Chiang Road #14-07 Keppel Towers Singapore *****5 T+65 *****832 www.factsoftware.sg sales@factsoftware.sg SINGAPORE56 words
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Advertisement109 2014-12-10 6 ICON MOMENTS OUT NOW IN BOOKSTORES* K I N O K U N I YA M P H NXAMiK ti'iffiA'iTii XWSMW P O P U L A R Kl N O KU N IYA, MPH, POPULAR, TIMES T I M E S sISS GOOGLE STORE http://goo.gl/lZAySq APP STORE http://goo.gl/NbpRmK I109 words
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Advertisement393 2014-12-10 7 FREEHOLD HOUSES CLOSE TO CENTRAL LONDON WITH GARAGE PARKING 2.5 MILES FROM KENSINGTON HIGH STREET m N II il nil IL n NO CAPITAL GAINS TAX FOR MAIN UK HOME INVESTORS '."V •r V* EXCLUSIVE VIP EXHIBITION FOR SINGAPORE Private one-to-one meetings with our CEO Monty Nawaz open Monday to393 words
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REAL ESTATE
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860 2014-12-10 10 Overall median Transaction Over x-value is S$0, the first time the figure is non-negative since October 2013, SRX Property’s flash estimate shows Singapore THE latest flash estimates from SRX Property show that 388 non-landed private homes were transacted in the resale market860 words
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Article, Illustration453 2014-12-10 10 Mindy Tan - By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore THE Verge and Chill The Verge, a mall located in Little India, are being offered for sale with an indicative price of S$320 million to S$350 million. The Verge comprises a six-storey mall with453 words
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Article, Illustration815 2014-12-10 11 Rose House is being used as an art centre by a British painter until the end of this year AFP Beirut LIKE a mirage in the middle of Beirut’s high-rise seafront, the exquisite mansion is a lonely reminder of this city’s romantic past.AFP; PHOTO: AFP - 815 words
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Article270 2014-12-10 11 Pictet-Absl Rtn Fxd Inc-HP EUR 04/12/2014 EUR 104,41 Pictet-Absl Rtn Glo Div-P EUR 04/12/2014 EUR 118,03 Pictet-Asian Equities Ex Japan-P USD 05/12/2014 USD 201,91 Pictet-Asian Local Currency Debt-P USD 05/12/2014 USD 147,78 Pictet-Biotech-P USD 04/12/2014 USD 689,92 Pictet-Clean Energy-P USD 04/12/2014 USD 84,30 Pictet-Digital Communication-P USD 04/12/2014 USD 216,85270 words
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Advertisement115 2014-12-10 10 2-night suite stay package at The Fullerton Bay Hotel worth $3,376 Cobra Ferrari driver and duffel bag worth $5,150 Samsung Galaxy Note 4 4G+ worth $1,088 An 8-course meal for 2 at Corner House worth $496 DOWNLOAD NOW, IT’S CHOOSE YOUR CHRISTMAS GIFT FREE! Prizes sponsored by Roche Bobois armchair115 words
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Advertisement23 2014-12-10 11 China shares plummet on stricter collateral rules that affect about 500b yuan local govt debt To subscribe, call 6388-3838 or go to sphsubscription.com.sg23 words
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Advertisement111 2014-12-10 11 WE ARE Guided by our time-tested investment process. PIMCO Our Secular Outlook provides a strategic investment framework for the next 3-5 years Quarterly Cyclical forums ensure alignment with shorter-term investment objectives Regular Investment Committee meetings guide day-to-day decision-making Regional experts in global offices provide local market insights Wa I TTi>111 words
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BANKING & FINANCE
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1075 2014-12-10 12 Fed deliberately keeps quiet about how it measures lenders’ performance during downturns, to prevent them from finding loopholes REUTERS New York EXECUTIVES at the biggest US banks are sharing notes with each other before their next round of tests with federalREUTERS - 1,075 words
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Article, Illustration782 2014-12-10 12 BLOOMBERG Kuala Lumpur GLOBAL Islamic bond sales look set to miss out on a record year after Malaysia’s sovereign wealth fund postponed what would have been 2014’s biggest offering. The top underwriter is also cautious over the coming year. Issuance toBLOOMBERG - 782 words
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242 2014-12-10 12 BLOOMBERG New York HAITONG Securities Co, China’s sec-ond-largest brokerage by market value, will buy the investment banking unit of Portugal’s Novo Banco SA for 379 million euros (S$618 million) to expand outside its home market. The sale of Banco Espirito Santo de InvestimentoBLOOMBERG - 242 words
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Article260 2014-12-10 12 AFP New York THE US government has sued Deutsche Bank for creating shell companies that allowed it to avoid paying tens of millions of dollars in taxes. The suit filed by the US attorney in New York on Monday asks for US$ 190 millionAFP - 260 words
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550 2014-12-10 12 BLOOMBERG London ROYAL Bank of Scotland Group plc (RBS) is seeking offers for its international private bank as soon as this week, according to a person with knowledge of the matter. About a dozen potential bidders for CouttsBLOOMBERG - 550 words
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Advertisement156 2014-12-10 12 A FESTIVE SUPPLEMENT BY JAAN EXQUISITE CELEBRATIONS WITH KRUG 8-31 DECEMBER 2014 •Yv,. IT:'. 88s l mm m sail Indulge in the finest at JAAN as you savour a special 10-Course Degustation Krug Pairing Dinner menu prepared by Chef de Cuisine Julien Royer, complemented by service par excellence and enthralling156 words
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ENERGY & COMMODITIES
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Article, Illustration704 2014-12-10 13 Oil price drop comes at same time as China slowdown and copper surplus BLOOMBERG New York LOWER fuel prices are compounding the longest commodity slump in a generation. Because energy accounts for as much as half the cost to produce food and metals, allBLOOMBERG; PHOTO: REUTERS - 704 words
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366 2014-12-10 13 REUTERS Shanghai CHINA is looking into cutting taxes for domestic iron ore miners as tumbling prices of the commodity and an influx of cheaper overseas supplies threaten the survival of many local firms, the state-owned China Securities Journal reported on Tuesday. PotentialREUTERS - 366 words
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Article, Illustration432 2014-12-10 13 REUTERS Mumbai INDIA’S gemstone industry will hope to add some sparkle to ties between New Delhi and Moscow this week by persuading Russia to massively increase its exports of diamonds direct to the global hub of cutting and polishing. Vladimir Putin’sREUTERS; PHOTO: AFP - 432 words
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632 2014-12-10 13 BLOOMBERG Singapore IRON ore prices will extend declines as growth in low-cost supply from the world’s largest producers outstrips demand, according to JPMorgan Chase Co, which reduced forecasts through 2017. The steel-making raw material will average US$67 a tonne nextBLOOMBERG - 632 words
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Advertisement146 2014-12-10 13 PUBLIC LECTURE Wilmar International Professorship in Commodities Business The Financialization of Commodity Markets Wei XIONG Professor of Economics Over the last decade, commodity futures have become a popular asset class for portfolio investors, just like stocks and bonds. This process is sometimes referred to as the financialization of commodity markets.146 words
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TECHNOLOGY
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848 2014-12-10 14 BLOOMBERG Washington COMPUTERS being remotely operated by hackers account for almost one in four views of digital video ads worldwide, according to a study that estimates such fraud will cost advertisers US$6.3 billion next year. The fake views,BLOOMBERG - 848 words
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942 2014-12-10 14 The startup lets users create online petitions that call on govts and firms to act on specific issues NYT New York IN a twist on how Silicon Valley companies are financed, several technology luminaries have banded together to effectively do the workNYT - 942 words
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Article, Illustration427 2014-12-10 14 REUTERS London CONSUMERS are warming to the idea that wearing a computer on their wrists or clothing may not be the fashion faux pas that early clunky prototypes led many to fear, with 2015 poised to be a breakout for theREUTERS; PHOTO: AFP - 427 words
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477 2014-12-10 14 AFP Washington A SERIES of spectacular cyber-attacks drew headlines this year, and the situation will only worsen in 2015 as hackers use more advanced techniques to infiltrate networks, security researchers said on Tuesday. McAfee Labs’ 2015 Threats Predictions report sees increased cyber-war-fare andAFP - 477 words
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Advertisement488 2014-12-10 14 FORM 69(4) NOTICE OF DIVIDEND Name of Company Premiere Visione Resources Inc. Private Limited (In Liquidation) Co. Reg. No. *****1539M Address of Registered Office c/o The Liquidator’s Office Number of Matter Companies Winding Up No. 27 of 2013 Amount per Centum 100.0% First Final or otherwise First Final Dividend When488 words
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Advertisement19 2014-12-10 14 Show Off Your Prize Bull Call 1800 289 8822 or e-mail notices@sph.com.sg to place your New CEO Announcement Notices19 words
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CONSUMER
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Article, Illustration746 2014-12-10 15 Industry expects worldwide advertising spending of 4.8 to 5 per cent next year NYT New York AN OLD Viennese saying to the effect that “the situation is hopeless, but not serious” seems to sum up what several Madison Avenue thought leaders believeNYT; PHOTO: BLOOMBERG - 746 words
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685 2014-12-10 15 BLOOMBERG New York MCDONALD’S Corp, facing its worst US sales slump in more than a decade, is turning to customised menu items in a bid to lure more millennials and shake off its reputation for selling outdated fastBLOOMBERG - 685 words
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Advertisement1497 2014-12-10 15 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED ABN 11 005 357 522 FINANCIAL STATEMENTS FOR ANZ BANKING GROUP LIMITED and its controlled entities for the year ended 30 September, 2014 BALANCE SHEET as at 30 September CONSOLIDATED THE COMPANY 2014 2013 2014 2013 AUD-m AUD-m AUD-m AUD-m Assets Cash 32,5591,497 words
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GOVERNMENT & ECONOMY
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858 2014-12-10 16 Clearing house disqualifies higher-risk issues from being used for bond repurchase agreements REUTERS BLOOMBERG Shanghai YIELDS on benchmark China Development Bank bonds ended a few basis points lower on Tuesday, having risen by 30 basis points at the opening, after investors wereREUTERS; BLOOMBERG - 858 words
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Article, Illustration543 2014-12-10 16 Reversal comes after heavy criticism by opposition and many in healthcare sector REUTERS Sydney PRIME Minister Tony Abbott on Tuesday abandoned a plan to radically reshape Australia’s universal healthcare system by charging patients a fee to see their doctor, a major back flip forREUTERS; PHOTO: AFP - 543 words
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372 2014-12-10 16 REUTERS Sydney A MEASURE of Australian business conditions fell back sharply in November while confidence continued to decline, a subdued survey revealed that will only add to speculation of further cuts in interest rates. National Australia Bank’s survey of more than 400 firms showedREUTERS - 372 words
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Article, Illustration494 2014-12-10 16 BLOOMBERG Washington CONGRESSIONAL negotiators planned on Tuesday to release a bipartisan US government spending proposal, just days before current funding ends, after resolving disputes over Republican policy proposals. The House and Senate intend to vote on the legislation this week beforeBLOOMBERG; PHOTO: AFP - 494 words
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419 2014-12-10 16 BLOOMBERG Atlanta FEDERAL Reserve officials are discussing the future of their vow to hold interest rates low for a “considerable time”, ahead of a meeting next week where they will weigh that pledge against signs of economic strength. Federal Reserve BankBLOOMBERG - 419 words
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571 2014-12-10 17 Pauline Ng - WealthInsight notes that the country has about the same number of well-off people as Indonesia, the population of which is 81/2times bigger By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA has more than 26,000 millionaires, who held US$151 billion in combined wealth last year.571 words
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Article, Illustration529 2014-12-10 17 Focus on welfare of bottom 40% of society, not just poverty of lowest 10% BLOOMBERG London WIDENING inequality creates a drag on economic growth that can be counteracted by tax policies to benefit the less well-off, according to the Organisation for Economic Co-operation andBLOOMBERG; PHOTO: AFP - 529 words
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409 2014-12-10 17 BLOOMBERG London IF you expect global central banks to unwind stimulus next year, you’re probably wrong. In fact, the world’s monetary policymakers are set to open the cash spigot by the most in four years in 2015. Major central banks willBLOOMBERG - 409 words
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Article, Illustration593 2014-12-10 17 AFP REUTERS Brussels EUROPEAN Union (EU) member states and the European parliament said on Tuesday that they have reached a deal on a new 2015 budget for the 28-country bloc after bridging gaps that threatened to scupper a deal. The two had failedAFP; REUTERS - 593 words
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465 2014-12-10 17 LATEST US DATA REUTERS BLOOMBERG Washington US wholesale inventories rose more than expected in October, which could prompt economists to raise their growth forecasts for the fourth quarter. The Commerce Department said on Tuesday wholesale inventories increased 0.4 per centREUTERS; BLOOMBERG - 465 words
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OPINION
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657 2014-12-10 18 EDITORIAL IN the past two weeks, the oil price plunge has accelerated, capping a year in which oil has lost more than one-third of its market value. Crude oil, for instance, has fallen 36 per cent this year alone as it657 words
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Article, Illustration825 2014-12-10 18 Frank Ching - TT THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THIRTY years ago this month, Britain and China signed the Sino-British Joint Declaration on the Question of Hong Kong,825 words
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Article, Illustration1002 2014-12-10 18 BRIGITTE GRANVILLE, HANS-OLAF HENKEL - France could be headed towards a catastrophe, with its leader making political pledges he cannot honour, mainly because of his approach. BY BRIGITTE GRANVILLE AND HANS-OLAF HENKEL approach.BY BRIGITTE GRANVILLE, HANS-OLAF HENKEL T The writers are, respectively, professor of international economics and economic policy at Queen Mary,PHOTO: REUTERS - 1,002 words
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Article, Illustration2293 2014-12-10 19 YOOLIM LEE, KLAUS WILLE - GIC has moved away from the endowment model of strategic asset allocation it had followed for a decade to become one of the world’s most aggressive sovereign wealth funds. BY YOOLIM LEE AND KLAUS WILLE BY YOOLIM LEE, KLAUS WILLE BLOOMBERG LIM Chow Kiat, a 44-year-old manBLOOMBERG; FILE PHOTO - 2,293 words
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1020 2014-12-10 19 Shiv Puri - By Shiv Puri T The writer is founder and managing director of TVF Capital Advisors a fund management firm based in Singapore WHILE global liquidity lifted all boats like a rising tide during the boom of *****007, that scenario is unlikely to be repeated1,020 words
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TRANSPORT
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Article, Illustration848 2014-12-10 20 DAVID HUGHES - More asylum seekers from Middle East attempt Mediterranean crossing to seek refuge in Europe TTSTRAIT TALK BY DAVID HUGHES MERCHANTshipsmust have provision to cope with a man overboard emergency and, in the case of most modern vessels, now have a small rescue boat forPHOTO: AFP - 848 words
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475 2014-12-10 20 AFP Sydney QANTAS chief executive Alan Joyce on Tuesday defended the airline after it was forced to divert or turn around three planes in one day, saying that its record was better than most. Three Qantas flights made unscheduled landings on Monday,AFP - 475 words
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545 2014-12-10 20 Vietnam to discuss regulating the online cab service after branding it illegal REUTERS Bangkok THAILAND has ordered US online taxi booking company Uber to cease operations, on the same day taxi apps were banned in the Indian capital New Delhi where anREUTERS - 545 words
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753 2014-12-10 20 REUTERS London PENSION funds, squeezed by low interest rates, are exploring investments in shipping in their hunt for higher returns, hoping to benefit once this industry starts to recover from one of its worst-ever downturns. There are signs of a gradualREUTERS - 753 words
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343 2014-12-10 20 BLOOMBERG London TANKER rates are increasing to the highest level in at least three years as a surge in US refining boosts demand for ships to carry processed fuels to Latin America and the Caribbean. Vessels carrying about 38,000BLOOMBERG - 343 words
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Article, Illustration624 2014-12-10 21 Samuel Ee - GrabTaxi and the Prime group, which supplies vehicles for Uber Black, have seen demand for higher-end rides go up By Samuel Ee samuelee@sph.com.sg Singapore HIGHER-END limousine rides are growing in popularity as more Singaporeans turn to apps to get a taxi, say624 words
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Article, Illustration627 2014-12-10 21 Samuel Ee - By Samuel Ee samuelee@sph.com.sg Singapore ELECTRIC mobility may be getting bigger by the day but Lexus remains confident that its hybrid technology will continue to be the key technology for automobiles going forward. A higher degree of electrification requires more advanced batteries,627 words
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1005 2014-12-10 21 NYT New York TIM Collins emerged from Terminal D at La Guardia Airport with even less faith in the judgment of Vice-Presi-dent Joe Biden than usual. Mr Biden had besmirched New York City’s airports this year by likeningNYT - 1,005 words
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Article, Illustration570 2014-12-10 22 Cho Hyun-Ah resigns from all her posts but retains her VP title even though she no longer has any official role AFP Seoul THE daughter of Korean Air’s CEO resigned on Tuesday after being widely criticised for having the chief purser kickedAFP; PHOTO: AFP - 570 words
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429 2014-12-10 22 REUTERS Tokyo HONDA Motor said it will expand an “investigative” recall to replace potentially lethal Takata Corp air bag inflators across the globe, taking the total Takata-related recall tally of all brands to more than 19 million since 2008. Honda earlier added about 2.6REUTERS - 429 words
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281 2014-12-10 22 REUTERS New York US MERCHANTS face delays of as much as a week to ship cotton from major West Coast ports, threatening exports to China, the world’s largest textile market, ahead of a key Chinese deadline at month’s end for imports to arrive. CongestionREUTERS - 281 words
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Page 21 Advertisements
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Advertisement84 2014-12-10 21 URBANATHLON 2015 TEST YOUR STRENGTH. CHALLENGEYOUR SPIRIT. 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’SHEALTH Catch84 words
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Advertisement366 2014-12-10 21 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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Page 22 Advertisements
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Advertisement82 2014-12-10 22 Scraping skies. Powering ports. ade possible by QBE. Si I i N3 u fi IB i'i iwi ri?’ Bs When it comes to insurance, QBE has Asia Pacific covered. From protecting the region’s marine, construction and aviation industries to insuring the ports that connect us to the rest of the82 words
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Article1714 2014-12-10 23 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 CALMY CORAL 84 60 20/12 22/12 25/12 MALAYSIA STAR 41 50 08/01 09/01 13/01 15/01 DEL1,714 words
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Page 23 Advertisements
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Advertisement295 2014-12-10 23 C a ila n E n n o r e J e d d a h B r is b a Shanghai Chittagong n e Ho Chi Minh H o n g K o n g J e b e NYK RORO (ASIA) PTE. LTD. REGULAR SERVICE TO Persian Gulf,295 words
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LIFE & CULTURE
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Article, Illustration671 2014-12-10 24 AFP Paris PEDESTRIANISED, diesel-free and open all hours: Paris is cleaning up its act as the City of Light seeks to cement its position as one of the world’s most visited cities. Paris Mayor Anne Hidalgo hit the headlines over theAFP; PHOTO: AFP - 671 words
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290 2014-12-10 24 AFP Los Angeles AUDIENCES are continuing to feast on the latest Hunger Games movie, the top-grossing film in North America for a third straight week, according to industry figures released on Monday. The Hunger Games: Mockingjay Part 1, starring Jennifer LawrenceAFP - 290 words
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Article, Illustration542 2014-12-10 24 AFP Stockholm MALALA Yousafzai picks up her Nobel Peace Prize on Wednesday, but the Prize’s youngest laureate already has an even more startling memento from her young life: the blood-soaked school uniform she wore when shot by the Taliban. The 17-year-old Pakistani knownAFP; PHOTO: AFP - 542 words
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Article, Illustration135 2014-12-10 24 Arthur Lee - By Arthur Lee arthurl@sph.com.sg IT takes about 10 years for a Christmas tree to grow from a seed to 2 metres high. This may explain why some prefer artificial trees as part of the green movement. An idea by the National Library staff to bring festive cheer toPHOTO: ARTHUR LEE - 135 words
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267 2014-12-10 24 AFP Bangladesh AFTER giving up all worldly possessions, they wander the Bangladesh countryside dressed in white robes, singing of peace and love for all with their single-stringed instruments. Bangladesh’s “mystic minstrels” have long been dismissed as hippies and have even beenAFP - 267 words
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Page 24 Advertisements
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Advertisement13 2014-12-10 24 Call 1800 289 8822 or e-mail notices@sph.com.sg to place your Tenders Auctions Notices13 words
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Page 24 Miscellaneous
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Miscellaneous317 2014-12-10 24 CRYPTIC CROSSWORD Across 7 Substitute fabric left with expert (7) 10 Followed son and confessed (7) 11 Takeovers put the squeeze around working vouchers (7) 12 Lycra, deployed originally in cycling material (7) 13 Merged 15 publicly-funded buildings (9) 15 Houses of the stars? (5) 16 Article confronting women in317 words
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Page 25 Advertisements
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Advertisement134 2014-12-10 25 Congratulations to Mr. Goh Peng Ooi Founder Group Executive Chairman of Silverlake Axis On being awarded Ernst Young Entrepreneur of the Year (EOY) 2014 Malaysia From Silverlake Axis Board of Directors and if! Ml J m mm Management Team X silverlake SYMMETRY ATWORK 25 YEARS OF DIGITAL INNOVATION Silverlake Axis134 words
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EXECUTIVE MONEY
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461 2014-12-10 26 TT ON THE RADAR GLOBAL mutual funds were net buyers of Singapore stocks in the three months to Dec 3. Based on the top five transacted stocks, net buys totalled S$1.77 billion, compared to net sells of S$684 million. Based on trade in the461 words
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726 2014-12-10 26 weaker growth abroad checks hopes of US consumer price gains BLOOMBERG Toronto TRADING in two of the biggest exchange-traded funds (ETFs) that buy US government debt shows investors are backing away from bets on inflation picking up at the fastest paceBLOOMBERG - 726 words
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Article, Illustration1452 2014-12-10 25 Economists and strategists stick to their calls that yields will rise as Fed prepares to raise rates BLOOMBERG IF you’re convinced the plummet in yields on US government bonds is an aberration, it may be because you haven’t been in the business long enough.BLOOMBERG; PHOTO: AFP - 1,452 words
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Page 26 Advertisements
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Advertisement94 2014-12-10 26 We not only offer decades of experience, but also the resources of almost 300 in-house developers who continually deliver innovation and enhancements to our CFD trading platforms. Losses can exceed your initial investment. Find out more today at IG.com.sg or call +65 6390 5118 Ensure you understand the risks and94 words
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Advertisement10 2014-12-10 26 US TREASURY BONDS 100-year record shows bears will lose 2510 words
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