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The Delamere-International Newsletter ©

Edition of 30 April 2004 #134


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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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Disclaimer
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Copyright 2004 by "Delamere-Pennine Associates - International Business & Marketing Consultants" All Rights Reserved.


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