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News in brief

Heavyweight stocks pull down CI by 15 points

Heavyweight stocks tumbled, dragging the KLSE Composite Index (CI) down 1.6%, as eleventh hour window-dressing - which had reversed the benchmark index's fall on the first three days of this week - failed to materialise yesterday.

IT spending for 2004 set for moderate jump

B>SAN FRANCISCO/B>: Corporations have increased their budgets for information technology in 2004, a positive change after years of contraction, International Business Machines Corp's (IBM) top executive said on Wednesday.

Humble beginnings ...The tycoons of Batu Road

Thumbnail sketches of the tycoons of Batu Road.

Sony scores record Q3 profit with games, movies

Entertainment conglomerate Sony Corp has achieved a record net profit for its third quarter as its I>PlayStation 2/Itrounced the competition and movies like I>Spider-Man/Igot a new life in DVD releases.