Search Results for: International business

BY SWINEETHA DIAS WICKRAMANAYAKA
TOTALFINAELF is talking to Exxon Mobil about buying its Indian LPG business, boosting its India sales volumes by 50 per cent. TotalFinaElf would take over the 60 LPG dealerships held by Mobil Peeves, Exxon’s joint venture with an NRI, of Kerala.…

BY RICHARD HURST, in Johannesburg
BIDDERS for the new international airport north of Durban South Africa have begun to stake claims in the project with interest being drawn from Swiss technology group ABB and the investment arm of Australia’s Macquarie Bank.…

BY PHILIP FINE

CONAGRA Foods Inc is to sell its red-meat business in the United States and Australia, according to the US Cattle Buyers Weekly. The multinational, with sales of US$27 billion a year, will sell processing operations, cattle feeding operations and Australia Meat Holdings, says the newsletter.…

BY MARK ROWE
A ROW over dealership rights could lead to a permanent parting of the ways for Malaysia’s Oriental Holdings and Honda. Oriental was sole distributor for Honda cars until last July, when Japan’s second biggest carmaker took back those rights to form a local unit, giving it direct involvement in Malaysia’s market.…

BY MARK ROWE
INCHCAPE plc is set to abort its plan to privatise its Singapore-listed subsidiary Inchcape Motors after a key shareholder announced it would block the bid. British investment company Guinness Peat Group, which has been mopping up Inchcape Motors’ shares, said it will reject Inchcape plc’s conditional cash offer of £GB0.90p a share to turn Inchcape Motors and its motor distribution business into a 100 per cent privately owned company.…

BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development will lend Euro 14 million to a Czech subsidiary of French agri-business company Groupe Soufflet so it can expand its malting interests in the east European country. The money will enable Malterie Soufflet République Tchéque to acquire shares in Obchodní Sladovny, the malting subsidiary of Czech company Tchecomalt Group.…

BY RICHARD HURST, in Johannesburg
Motor manufacturer Daimler-Chrysler South Africa has announced that its franchised dealers are to introduce so-called black empowerment partners into their businesses.

The company’s dealer development manger Theo Swanepoel said that his group’s dealers have agreed to take on black African controlled business partners, commanding significant shareholdings.…

BY ALAN OSBORN
SOME sensible words were spoken recently by the EU’s agriculture commissioner Franz Fischler on the way forward for farmers. His starting point was the quality of farm produce. Noone is going to say that quality has ever been far from farmers’ minds, but until recently it wasn’t really the first consideration.…

BY ALAN OSBORN
*Finland is the world’s most “honest” country according to Transparency International;

*New British laws will ban payments made to people just for performing their official duties;

*In countries where bribery of foreign officials is a crime, penalties range from a one-year jail sentence (Norway) to life imprisonment (South Africa);

*Half the countries replying to the UN said their legal systems did not make it impossible to obtain tax benefits for foreign payments that would constitute bribery;

*Under American law companies can make payments for “routine government action” such as obtaining licences and permits abroad.…

BY ALAN OSBORN
IN an interesting recent analysis of the problems facing livestock and other food producers in Europe, the European Union agriculture commissioner Franz Fischler suggested that one way forward could be through contract farming.

Instead of producing in the traditional way for the open market, he said, producers might consider linking with retail groups or the meat processing industry and delivering precisely what was needed in terms of both quality and quantity.…