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IN
THIS ISSUE
1.
Business: Banks in China hold back reform program
2. Business: Beware of tax implications when buying
shares
3. Business: Brazil is given the Green Light
4. Business: Changes in the Wine Industry in South Africa
5. Business: Investing in Antiques
6. Business: Investing in Libya
7. Business: Rwanda Celebrates… Celebrates what?
8. Business: Sub-Saharan growth has slowed
9. Business: Trade between Switzerland & South Africa
to be increased
10. Education: Do you want to be the Mayor of London?
11. Real Estate: Cheap housing for UK workers
12. Travel: Virtual visit to the Tower of London
13. Travel: Cape Town Airport Upgraded
14. Travel: Reminiscing about Cornwall in England
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1. Business: Banks in China hold back reform program
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Shanghai:
China's central bank governor Zhou Xiaochuan said on
Friday that reform of the country's big four state banks,
one of the country's most pressing economic problems,
is likely to be delayed due to bureaucratic foot-dragging.
To read this full report, go to our NEWS
DESK link.
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2. Business: Beware of tax implications
when buying shares
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The
following example shows how circumstances change and
the taxpayer picks up the bill.
The contract between Yorkcor and the Department of Water
Affairs & Forestry, in South Africa, was one of
more than 50 pre-1994 contracts that gave timber companies
permanent preferential access to timber from state plantations
at substantial discounts to market price. Since this
was obviously inequitable and probably anticompetitive,
all bar one were converted, by mutual agreement, into
rolling five-year contracts without any compensation.
The department believed it was reasonable to seek a
similar solution with Yorkcor; hardly an "attempt
by the state to tamper with property rights".
This view was reinforced by the fact that Tucker's contract,
entered into with the then Lebowa government, promised
the delivery of timber volumes which the department
believed could not physically be met, given the state
of the plantations it inherited. To read the full report,
go to our NEWS
DESK link.
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3. Business: Brazil is given the Green Light
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Washington
- The International Monetary Fund (IMF) said
Friday it cleared a $1.34 billion (R8.79 billion) loan
installment for Brazil, but said the country indicated
the money was not needed and would not be drawn.
To
read the full report, go to our NEWS
DESK link.
Editor's Note: Visit our Global
Trade Page on Brazil and check out the new opportunities
for the entrepreneur.
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4. Business: Changes in the Wine Industry in South
Africa
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After
getting the right tools for the job at a business school,
Anzill Adams was appointed last year as chief executive
of Louisvale Wine Farms, a renowned producer of chardonnay,
becoming the only black CE in the Western Cape wine
industry.
And
since his appointment, Adams has become a leading figure
driving transformation in the industry. Real transformation
is not just about policies or laws, but about changing
mindsets and giving people opportunities to develop,
he says.
He
believes the time has come for real transformation in
this industry, and sees his role as one that goes beyond
the call of duty.
"As
one of the few black leaders in the industry, I see
transformation and the breaking down of barriers as
a personal responsibility - I've made it a priority
to do as much as I can to spearhead the process and
rectify the imbalances of the past," he says. To
read the full report, go to our
NEWS DESK link.
Editor's Note: To clarify for the benefit of
our international readers, a member of our senior staff,
knowing Mr. Adams personally, he is not a "black"
in the accepted international term, but he is a "coloured
person" or "non-white" in terms of the
old apartheid system. While we admire Mr. Adams and
the excellent progress in his career, we encouraged
him to remain open-minded and accept that all South
Africans, no matter what "colour" are needed
for the progress of the rainbow nation.
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5. Business: Investing in Antiques
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The
top end of the Johannesburg housing market may be booming,
but the items that traditionally grace the interiors
of luxury homes - antiques - are not faring as well.
Trade over the past two years, say dealers and auctioneers,
has been sluggish.
As
ever, in a field where the better the quality of a piece
the greater its international investment value, the
educated top end of the antiques market, though small,
remains firm.
Editor's Note: We recommend that you visit our
web page that has some excellent recommendations regarding
the wisdom of investing in antiques and collectibles.
Visit this page
on art and antiques.
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6. Business: Investing in Libya
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Tony
Blair's historic visit to Libya is set to re-open the
door for UK business links with the country. To read
the full report, go to our NEWS
DESK link
Editor's
Note: For more information on doing business in
Libya, employment or travel to Libya, visit our Global
Page on Libya in our Global Trade section.
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7. Business Rwanda Celebrates… Celebrates
what?
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Kigali:
Rwanda, where most people live on $1 (about R6.67) a
day, said on Wednesday it planned to spend $7-million
(about R45-million) to commemorate the 10th anniversary
of the 1994 genocide next month, three-quarters of the
money coming from donor nations.
A
decade after the slaughter of 800 000 civilians that
was initially ignored by world leaders, Rwanda hopes
to draw international attention by inviting foreign
dignitaries to high-profile memorial services in early
April. To read the full story, go to our NEWS
DESK link.
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8. Business: Sub-Saharan growth has slowed
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Johannesburg:
Growth in sub-Saharan Africa slowed to 2.4 percent last
year, down from 3.3 percent in 2002, despite oil's good
performance and a booming West African energy sector,
the World Bank's global development finance report has
shown.
Excluding
South Africa and the oil exporting countries, the regional
economy grew 2.5 percent last year and 2.7 percent the
year before, down from 3.8 percent in 2001.
The
slowdown in economic growth was because of adverse weather
conditions, which dampened agricultural production and
"civil conflict remained a factor in several countries".
To read the full report, go to our NEWS
DESK link.
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9. Business: Trade between Switzerland & South
Africa to be increased
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Johannesburg:
The Embassy of Switzerland on Monday launched the Trade
and Investment Network Switzerland-Southern Africa (TINSSA)
in Johannesburg in a bid to strengthen ties between
the two regions.
According
to Markus Leitner, embassy head of the economic and
trade section, TINSSA will primarily become an information
network on business opportunities in and between Switzerland
and Southern Africa. To read the full report, go to
our NEWS
DESK link.
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10. Education: Do you want to be the Mayor of
London?
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Nomination
packs for Mayor, European and London-wide Assembly candidates
are now available online. They contain all the forms
necessary for a nomination, as well as guidance and
timetables. Read the full information on how to be nominated,
visit
this site
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11. Real Estate: Cheap housing for UK workers
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Nurses, teachers and other public sector workers will
get help with buying or renting a home as part of a
£690m scheme launched today. To read the full
report, go to our NEWS
DESK link
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12. Travel: Virtual visit to the Tower of London
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As
one of the most famous complexes of historic structures
in the world, it stands to reason that the Tower of
London would have a plethora of websites dedicated to
exploring its development and rather crucial role in
English history.
Begun
by William the Conqueror, the castle has been improved
and added upon numerous times over the past 900 years,
and now includes dozens of smaller structures within
its walls.
Developed
by staff members at Knight International, this site
is a real treat for those seeking to learn more about
this historic site, or those who might be planning a
visit in the future. The site contains approximately
a dozen different areas of interest, ranging from a
fine virtual tour of the grounds, a section devoted
to the omnipresent ravens and, of course, a copious
amount of materials on the Crown Jewels. Visit
this site.
From
The Scout Report, Copyright Internet Scout Project 1994-2003
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13. Travel: Cape Town Airport Upgraded
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Cape
Town International Airport is being overhauled in line
with its increased passenger flow of nearly 5,5-million
travelers last year. Work is expected to start soon
on an extensive R320m development of the airport's domestic
facilities to double capacity.
The three-year project will enable the airport to handle
more than 500,000 domestic passengers a month, supplementing
its recently completed international terminal, which
last year saw an increase of 61000 of international
and regional visitors. To read the full report, go to
our NEWS
DESK link.
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14. Travel: Reminiscing about Cornwall in England
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If
any of our readers have ever visited Cornwall they will
remember the damp, cold and wind, but in summertime
it is one of the greatest attractions to tourists.
We
have fond memories of the Poldark Series, being filmed
in this area, but to review some of the 1000s of photos
sent in by readers to the BBC, we invite you to enjoy
happy memories of Cornwall. Visit
this site
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This month's quote
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"Continuous effort - not strength or intelligence
- is the key to unlocking our potential."
-- Sir Winston Churchill
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2004
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"Delamere-Pennine
Associates
-
International
Business
&
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