The
Delamere-International Newsletter ©
Edition
of 30 April 2003 #122
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This Month's Sponsor
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The
Fair -Trade Foundation
- This non-profit organization is dedicated to guaranteeing a
better deal for "Third World Producers". Issues are
examined, such as child slavery in Africa, plus other serious
issues affecting the underprivileged. (visit
their site)
If
you are interested in helping to promote education for these young
people who come from previously disadvantaged backgrounds, our
organization promotes a fund to help with college fees, visit
this link
IN THIS ISSUE
1.
Business: Investing in South Africa
2. Business: Small Business in South Africa
3. Business: The cost of banking in South Africa
4. Business: The Improved Value of the South African Currency
5. Education: The British Broadcasting Corporation
6. Education: British Prime Ministers
7. Education: Visit La Catedral de Girona, Spain
8. Education: Museums of the World
9. Education: AMICO: Art Museum Image Consortium
10. Education: The American Cowboy
11. Education: The North American Indian
12. Education: Orangutan Foundation International
13. Immigration: Changes in Worker Visas
14. Immigration: Grass looks greener
15. Immigration: Illegal cheap labour
16. Immigration: Moving to South Africa Made More Difficult
17. Real Estate: House prices still on the rise in UK
18. Business: Living and Working in the UK.
19. Business: Update on South Africans Holding Illegal Offshore
Money
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1. Business: Investing in South Africa
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Johannesburg
- Foreigners invested R12.1 billion in South Africa in 2002 and
local businesses repatriated R6.6 billion during the year, the
Reserve Bank said yesterday.
The
bank said there were net inflows of R14.7 billion in the year
that had not been allocated to any investment type and were accounted
for in the "unrecorded transactions" category. To read
the full story, go to our NEWS DESK link.
Editor's
Note: We have been approached by many of our clients regarding
the wisdom of investing in South Africa, especially when one can
only obtain about 1 percent interest in the money markets in the
USA and in South Africa it is quite easy to obtain at least 13
percent return.
We
have just received notice of this new book release, "Investing
in South Africa." Few need reminding of how radically
South Africa has changed in the recent past. Everyone acknowledges
that the country has entered a critical new phase in its development.
There is certainly, good reason to be optimistic, given the realism
that is already tempering populist idealism. New economic growth
- following 1993's mini-boom - has spread hope throughout the
business community.
One
challenge that demands close attention now is the need to translate
post-election euphoria into positive and practical action from
foreign investors and business people. Before they can act, they
need to be able to turn sentiment into knowledge. "Investing
In South Africa" complements Euromoney's first book on
South Africa published in 1991, which offered wide-ranging macroeconomic
study of the country, providing a detailed economic history and
broad business overview for a still-evolving market.
This
new publication focuses on the specific mechanics of foreign investment,
providing in-depth analysis and guidance for those looking to
enter the stock market, planning to establish a subsidiary or
joint venture, or who are keen to develop their trade or business
links with South African partners. Visit
our online bookstore for a discounted copy.
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2. Business: Small Business in South Africa
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The
Department of Trade and Industry is setting aside a total
of R1 billion over the next three years to provide support for
businesses through its small and medium manufacturing development
programme.
The
minister Alec Erwin announced the funding this week, during his
budget vote speech in parliament.
Apart
from the small and medium manufacturing development programme,
Erwin said that the funding would also come through the Competitiveness
Fund, Sector Partnership Fund and Export Market and Investment
Assistance Fund.
In
a year that has been good for small business in terms of announcements,
Erwin told the National Assembly that other forms of financial
support provided to enterprises would include tax incentives through
the Strategic Industrial Programme, which includes export
credit guarantees. To read the full story, go to our NEWS
DESK link.
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3. Business: The cost of banking in South Africa
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The
number of South Africans using the Internet to do their banking
is growing exponentially, but still not fast enough to warrant
a significant drive by any of the big four groups to aggressively
compete for market share.
Recent statistics show the number of South Africans banking online
has grown from 800 000 to more than 1.2 million over the past
12 months. But the numbers pale in comparison to those in North
America where home and office computer usage is far more widespread
than it is locally.
To read the full story, go tour NEWS
DESK link
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4. Business The Improved Value of the South African Currency
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Kevin
Wakeford, former South African Chamber of Business CEO and whistle-blower
who sparked the commission into the Rand's precipitous collapse
in 2001, is upbeat on South Africa's economic prospects and believes
the local currency could claw its way back to as strong as R4
to the dollar by 2008.
To
read this full story, go to our NEWS
DESK link.
Editor's
Note: We remember only 12 months ago the Rand was trading
at around R14 to the Dollar; someone has made great profits by
moving their money; hot, illegal or otherwise, out of the US Dollar
into currencies of developing countries. We wonder how much of
Saddam Hussein's personal $ billions fortune is now in South Africa
after he was toppled from power? Visit our Web Page on "Investing
in South Africa."
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5. Education: The British Broadcasting Corporation
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The
BBC is known around the world for its vast collection of audio
and visual material that dates back to the corporation's earliest
days.
Drawing
on these vast resources, the BBC has established this Web site
(in conjunction with a living history television show) to place
some of these materials online, available for the general public.
The
site itself is divided into five broad themes, including Play,
Good Times Bad Times, and Shopping. Within each section, there
are a number of video clips that relate to the selected theme,
along with a background essay that discusses the general theme
of the section.
Visitors
are also encouraged to share their own life experiences on the
site, ranging from discussions of the old High Street to working
in the tea factory on Tyneside. Overall, this is an interesting
and engaging introduction to the recent social history of the
area stretching from Northumberland to North Yorkshire. Visit
this site
Editor's
Note: We are currently researching a complete and comprehensive
report on the lineage of the Cholmondeley family of Cheshire,
England, especially the Vale Royal line. One of the ancestors
of our senior partner was Thomas Hugh Cholmonderley 1st Lord Delamere
(1767-1855), and his lineage is now being updated and entered
into the library of Genealogical Research of Great Britain and
also the USA library. If any of our readers wish more details,
we are willing to forward a draft copy of this 100-page report
for their use and approval.
If
you require assistance with Genealogical Research you may contact
our firm or visit
this link.
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6. Education: British Prime Ministers
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There have been 51 British Prime Ministers since Robert Walpole
first held the office in 1721. These figures include some of the
most influential and interesting figures in British history.
Here you will find a biography and interesting facts about each
Prime Minister from Walpole to Tony Blair, plus the most interesting
and bizarre facts about past Prime Ministers. Visit
this site
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7. Education: Visit La Catedral de Girona, Spain
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Beginning
with the evocative sounds of cathedral bells and the clamor of
footsteps, this site dedicated to the cathedral in the Spanish
city of Girona is a well-done overview of the cathedral's many
compelling facets.
The
cathedral was begun in the 11th century (although most of the
building dates from the 14th to 17th centuries), and is considered
of one the finest Gothic cathedrals in Spain. The cathedral contains
the world's widest Gothic nave and is surpassed in total size
only by St. Peter's in Rome.
Within
the site, visitors are able to take a close look at the cathedral's
nave, cloister, and bell tower. Additionally, various treasures
of the cathedral are here for viewing, including the bible of
Charles V and the detailed tapestry of the Creation. The site
is rounded out by a history of the cathedral, information about
the archives held on the premises, and information about visiting
in person. Appropriately enough, the site is available for browsing
in Spanish, Catalan, and French (along with English).Visit
this site
From The Scout Report, Copyright Internet Scout Project 1994-2003.
Editor's
Note: We are currently fascinated with the power of using
flash on websites, and we request that you submit your opinion
on the topic, Does using Flash make the site more appealing and
successful or is it merely a distraction?
Our
firm is currently handling the accounts of 2 very successful businesses
that have used flash in the introduction of their web sites. Visit
VirtuosityDesign
plus also visit VintageShopper
(note this site is yet to be fully launched, but we suggest that
you bookmark it for future use, as items being marketed on this
site will be unique and are unavailable from any other source)
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8. Education: Museums of the World
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Designed
by a German company located in Dusseldorf, the Museums of the
World Web site is an easy and helpful way to find out about events,
exhibits, lectures, and other activities going on in museums around
the world.
The
homepage is a fine way to begin exploring the site, as it contains
a list of recent news regarding museum additions and upcoming
exhibits, along with events sponsored by different museums. The
right hand side of the homepage breaks the news items into useful
subtopics, such as Museum Expansion, New Acquisition, Recent Publication,
and Future plans. A similar division is provided for events listings,
allowing for great specificity when searching for certain activities
of interest.
Additionally,
users may use the database provided here to search for museums
by theme, geographic location, and name. Overall, the site will
be of great assistance to those persons planning a visit, or to
fellow museum professionals. Visit
this site.
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9. Education: AMICO: Art Museum Image Consortium
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A
huge catalog of thumbnail images of over 100,000 digitized works
of art, text, and multimedia provided by a consortium of over
35 art museums around the world. Search by creator, creation date,
and other key access points.
This
site includes art forms from different cultures ranging from prehistoric
to contemporary time periods. Provides extensive rights information
for each image, reproduction request forms, links to publications,
and institutional membership agreements. Visit
this site.
From The Scout Report, Copyright Internet Scout Project 1994-2003.
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10. Education: The American Cowboy
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This
site is a tribute to early twentieth century photojournalist Erwin
E. Smith, who worked as a cowhand and photographed American cowboy
life.
Visitors
can view an online collection of over 750 photographs, which "capture
both the rugged realities and the romance of life on the open
range." Includes a teaching guide, glossary, and bibliography.
From the Amon Carter Museum. Visit
this site.
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11. Education: The North American Indian
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Created
with grant support from the Institute of Museum and Library
Services National Leadership Grant Program, this online database
highlights the photographic and visual record of current and former
Indian groups from the Northern Great Plains, including the Apache,
Blackfeet, Cree, Iroquois, Shoshone, Sioux, Ute, plus others.
Housed
at Montana State University, this particular online collection
was designed to provide students, researchers, and the general
public with direct access to valuable primary source material
on Plains Indian cultures.
The
general organization of the site's archival materials is by tribe,
but there are several themed collections, including one of Blackfeet
tipis. The search options are quite impressive, as users can search
by subject, date, location, tribe, and artist or photographer,
along with further refining each search by looking by the geographical
location of where the item is currently held. (Material submitted
by the University of Montana.) Visit
this site.
From The Scout Report, Copyright Internet Scout Project 1994-2003.
Editor's
Note: Our firm uses the services of a Los Angeles based leading
photographer for private assignments in any country of the world.
Visit
our web page for more details.
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12. Education: Orangutan Foundation International
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You
will learn about the Great Red Ape and what we are doing to study
and conserve them....The mission of the [OFI] is to support the
conservation and understanding of the orangutan and its rain forest
habitat while caring for ex-captive individuals as they make their
way back to the forest.
The
Web site also describes tours and volunteer opportunities and
various projects of the foundation sponsors and has an extensive
image gallery. Visit
this site.
Editor's Note: Our firm is a sponsor of the "Wildlife
Conservation Society" based in New York, USA. For more
details visit this page on our website and review the various
sponsorship programmes we support and how you can also assist.
Visit this page.
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13. Immigration: Changes in Worker Visas
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The
US Congress House Subcommittee on Immigrations and Claims will
meet in the next two weeks to begin hearings on H-1B and L-1 visas,
according to Sheila Jackson Lee, Congresswoman from Texas who
is a member of the committee.
Jackson
Lee spoke to ET on the sidelines of a CII seminar hosted for a
delegation of US Congress members visiting India. Congressman
Joseph
Crowley, a Democrat from the district of New York, is heading
the delegation.
According to Lee, the Congress will take up the H-1B visa bill
in the fall. The sub-committee has received information on L-1
visas from several people and is in the process of examining concerns
around it.
Indian
software companies are the biggest users of H-1B visas but have
recently shifted to using L-1 visas more. The US Congress has
reduced the H-1B visa quota from 195,000 to 65,000. H-1B visas
are subject to annual numerical limits, currently 195,000. The
limit is set to go down to 65,000 from October 1, 2003.
To
read the full story, go to our NEWS
DESK link
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14. Immigration: Grass looks greener…
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The
flow of migrants has doubled since 1970, creating political waves
in rich nations.
Border
guards earlier this week on the German-Polish boundary stopped
a truck filled with 76 illegal immigrants from Ukraine and Moldova
headed for the Netherlands.
Except
for its human implications, the story might inspire a yawn. In
essence, a similar story happens almost daily on some border around
the world. Millions from poor countries are striving desperately
to enter rich nations. International migration has become a hot
topic in the US and in many other countries.
"It
is a very big issue," says Joseph Chamie, director of
the Population Division of the United Nations in New York. And
he expects migration to become even more of a political issue
in the years ahead.
"These
migrants are not only the poorly educated, creating job competition
for lower- income workers in industrial nations, some have postgraduate
degrees." Just last month, several American engineers, some
with doctorates, paraded with picket signs outside a convention
of engineers in Dallas to protest H-1B visas given high-tech workers.
"Bill Gates Unfair," one sign read.
Engineers
parading on picket lines are relatively rare. However, Microsoft,
headed by Mr. Gates, is one of many United States companies that
bring in foreign engineers to do programming or other mostly technical
jobs under a special visa program that has become highly controversial.
Today,
175 million people reside outside their country of birth. That's
about 3 percent of world population, and more than double the
number in 1970. With the world's population at 6.3 billion and
growing by 77 million a year, pressures to migrate, mostly from
poor nations, are increasing. To read the full report, go to our
NEWS
DESK link
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15. Immigration: Illegal cheap labour
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In
1987, President Reagan gave amnesty to 2.7 million Mexicans who
were illegally in the USA, plus many other groups were included.
Upon
becoming citizens, they sponsored another 2.7 million of their
relatives as lawful entrants. The amnesty program also spurred
millions to enter illegally to be with family and escape impoverished
countries. This mass migration addicted businesses to cheap Mexican
labor and was the catalyst for the greatest economic surge in
our country's history.
Reagan's humanitarian gesture did not foresee the Mexican economic
crash of 1994. That year, Mexico borrowed $40 billion to keep
its crisis from spreading worldwide. The peso was devalued by
50 percent overnight and Mexicans lost life savings and jobs in
record numbers. Their choices were to flee north or starve.
Concurrently, we in the United States were entering an unprecedented
bull economy, accelerated by the abundance of cheap labor, which
kept prices depressed and gave consumers more for their buck.
As word spread through Mexico's rural communities of the wealth
of employment north of the border, more and more came. Eventually,
up to 4,800 Mexicans were crossing the border illegally daily,
before Sept. 11, 2001. To read the full story, contact
us for a copy of this report.
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16. Immigration: Moving to South Africa Made More Difficult
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JOHANNESBURG
-- South Africa's new Immigration Act has left too much discretion
to police and immigration officials, and criminalized ordinary
job seekers from neighbouring countries, the NGO Lawyers for Human
Rights (LHR) said on Tuesday.
After
several delays, amendments and last minute court challenges, the
legislation replacing the Aliens Control Act was finally enacted
on Monday evening.
Although
the main thrust of the objections to the act were that it placed
very high financial requirements on immigrants who wanted to retire
in South Africa, and did not contain enough investor-friendly
clauses, LHR was concerned about the impact on alleged illegal
immigrants, small traders and job seekers. To read the full story,
go to our NEWS
DESK link.
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17. Real Estate: House prices still on the rise in UK
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House
prices are 23.4 per cent higher than a year ago, according to
the latest figures from Halifax, Britain's biggest mortgage lender.
Although
March's monthly rise of 1.1 per cent was below that seen in January
or February, it contradicts the evidence of other surveys that
house prices have already begun to fall. With the average home
now costing £127,000, first-time buyers face a struggle,
especially in the south-east.
Editor's
Note: Investing in South African properties provides excellent
returns. A client of ours last year bought 5 properties in the
Cape Town area, paying in Rands at the exchange rate of R13,50
per $. The value of these properties has increased by approximately
120 percent in the past 14 months, based on the projection and
capital growth if they sold the same properties today and repatriated
the investment portfolio back into US Dollars. That sort of return
is difficult to beat in any investment today. Visit our web page
on Property Investments.
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18. Business: Living and Working in the UK.
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Unless
you have claim to British citizenship you will require a work
permit to apply for employment on the UK. Many of our clients
have requested more information on taking this step, so we recommend
that you visit
this web page of the UK government.
We also recommend that you read an excellent publication related
to finding work in the UK. Visit
this link.
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19. Business: Update on South Africans Holding Illegal Offshore
Money
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New
draft legislation on the proposed exchange control amnesty has
been released by the National Treasury.
The
updated version has taken comments from various parties into account
and although it has addressed some concerns raised during the
parliamentary hearings in early April about the original version,
it is likely to go through further alterations before the final
version is put in place. A new concern is that taxpayers will
get a "black mark" against their names from Receiver
of Revenue if they come clean, is now greater than under the original
legislation. The next parliamentary hearing is scheduled for the
13th of May. To read the full story, go to our NEWS
DESK link.
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This month's quote
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Keep away from people who try to belittle your ambitions. Small
people always do that, but the really great make you feel that
you, too, can become great.
~ Mark Twain
Although
great effort has been made in compiling
and checking the information contained
in this Newsletter is accurate, the
publisher shall not be held responsible
for any errors, omissions or inaccuracies
in this electronic publication, or
for any consequences arising there
from.
Editorial materials published herein
are provided for information only.
The publisher expressly disclaims
any and all liability to any person,
whosoever, in respect of any loss,
damage, death, personal injury or
other consequences, by their use of,
or reliance upon in any way, the information
contained in this electronic publication.
Copyright 2003 by "Delamere-Pennine
Associates - International Business
Consultants" All Rights Reserved.
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