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COPYRIGHT 2001 Asia Pulse Pty Ltd
Business in Asia on Oct 29, 2001. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:
UPS TO INVEST US$500 MLN IN PHILIPPINES
CLARK FIELD, Philippines - United Parcel Services (UPS), the world's largest air cargo firm, will invest US$500 million to set up its Asian hub inside the Diosdado Macapagal International Airport (DMIA) aviation complex here. The Atlanta-based courier giant is expected to start operations April next year with an initial five international flights a night. Ron Wallace, UPS International president, said the Philippines central position makes it possible for cargo aircraft to reach all major Asian cities in less than four hours.
SINGAPORE AIRLINES NET PROFIT SLUMPS 88PCT
SINGAPORE - Singapore Airlines Ltd (SGX:SIAL) has announced an 88 per cent fall in net profit to S$134.8 million (US$73.78 million) for the six months ended September 30. The main factors were the September 11 terrorist attacks in the US, the slowdown in the US economy and the worsening slump...
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