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Business

S'pore may have avoided recession

SINGAPORE'S economy grew 2.2% in 2002 but may not fully recover until 2004, Prime Minister Goh Chok Tong said yesterday, suggesting the city-state might have escaped recession in the 4th quarter.

Business

Foreign business news in brief

Foreign business news in brief including tht Asian debt issuance rose 13.73% in 2002 to a total of US$152.4bil, Thomson Corp said in a report.

Business

Hotelier Ong wins control of NatSteel

Hotel magnate Ong Beng Seng won control of NatSteel Ltd yesterday, but only by a wafer-thin margin, ending an eight-month takeover battle for the cash-rich steel miller.

Business

Foreign business news in brief

Foreign business news in brief including from Helisinki that Finnish telecoms equipment maker Nokia has won contracts worth more than US$70mil to expand a GSM network and services for Beijing Mobile Communications Co Ltd.

Business

OMD clinches Media Agency award

MEDIA specialist Optimum Media Direction (OMD) Asia-Pacific has clinched I>Media/Imagazine#146;s Media Agency of the Year 2002 award.

Business

Few Asian banks seen as good franchises

LESS than 10% of the approximately 300 banks with a retail focus in Asia, demonstrate the processes that would make them attractive long term franchises that investors will be interested in, said a research and publication company, the Asian Banker.

Letters

Local banks must work at improving their services

By V.K. CHIN

Business

Standard Chartered plans aggressive expansion in India

STANDARD Chartered, India#039;s largest foreign bank, has recently announced aggressive plans to expand its distribution network and branch footprint across India, with the opening of 23 new branches during 2003, the bank said in a statement.

Business

StanChart upbeat on future as profit rises

Asian specialist bank Standard Chartered plc (StanChart) reported yesterday a 16% rise in annual profit that beat most forecasts and expressed optimism about its long-term prospects.

Business

Standard Chartered eyes more tie-ups in China

Standard Chartered Bank (StanChart) is in talks with several mainland China banks about business tie-ups after securing a partnership with state-owned Bank of China.