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PANGAEA.Talk.NEWS(tm)
October 1995 issue
USA -- 22 of the 100 leading US advertisers in 1994 were actually foreign companies. Among them, Nestle (#11), Toyota (#14), Grand Metropolitan (#15), Unilever (#18), Sony (#23), Honda (#25), Nissan Motor Co. (#30), Sandoz (#97) and others. The top 10 US advertisers in 1994, in descending order were all American-based companies: #1 Proctor & Gamble spent the most on advertising, US$2,698.8 mil. #2 is Philip Morris, #3 General Motors, #4 Ford Motor Co., #5 Sears, Roebuck & Co., #6 AT&T, #7 PepsiCo, #8 Chrysler, #9 Walt Disney, #10 Johnson & Johnson at US$933.7 mil.
(Source: YOUR LINK HERE)WASHINGTON D.C. USA -- Strengthening global marketplace. The global economy is expected to grow in 1996 at its fastest pace in 8 years if the largest countries continue to cooperate on economic policies and currency stabilization, according to the International Monetary Fund (IMF). The IMF's new outlook is based on their prediction that the global economy would expand by 4.1% in 1996, the best showing since it grew by 4.6 % in 1988. In 1995, the IMF predicted global output would grow by 3.7 %, slightly better than last year's actual 3.6 % increase.
(Source: YOUR LINK HERE)HO CHI MINH CITY, Vietnam and WASHINGTON D.C., USA -- Preparations are underway to begin trade negotiations to normalize trade relations between the two nations. The trade agreement is necessary before the United States considers granting Vietnam Most Favored Nation trade status that will open access to U.S. markets for Vietnamese goods. The negotiations will also address a number of issues that will clear the way for U.S. Export-Import Bank export financing programs and Overseas Private Investment Corp. investment insurance programs. The first ministerial visit to Washington by Vietnamese officials since President Clinton's decision to establish diplomatic relations last July was lead by Foreign Minister Nguyen Manh Cam and Trade Minister Le Van Tiet. They were to meet this week with top U.S. officials, including Undersecretary of State Joan Spero and U.S. Trade Representative Mickey Kantor. An array of government regulations and policies make it difficult for U.S. firms to do business in Vietnam, including a "highly protectionist and bureaucratic trade regime," import quotas and licensing restrictions and a broad range of limits on foreign investment according to Spero. In addition, they will address concerns about human rights and labor issues. "From what the Vietnamese have said to us, there is great enthusiasm on their part for entering into a trade relationship with us."
(Source: YOUR LINK HERE)HO CHI MINH CITY, Vietnam -- 2nd English-language daily newspaper launches in Vietnam. This shows increasing receptivity to foreign business and enterprise in Vietnam. Ho Chi Minh City's first English-language daily newspaper Saigon Times Daily (published by the Saigon Times group) just began publication on October 2nd, 1995. 5,000 copies (four pages of news and four pages of advertisements) were distributed for sale in the streets and in hotels. It is aimed at foreign and local businessmen and will compete with the Vietnam News, published in the capital, Hanoi, by the official Vietnam News Agency (VNA). In addition, Prime Minister Vo Van Kiet has ordered government officials under the age of 45 to learn a foreign language -- front page news from the Saigon Times Daily.
(Source: YOUR LINK HERE)PRETORIA, South Africa -- Fast-food giant McDonald Corp.'s lost an important court case Friday to use its world-famous name on hamburger restaurants in South Africa, because they reportedly waited too long without doing business there, according to Pretoria Supreme Court Judge B.R. Southwood. (Under South African law, dating from the days of white minority rule, any foreign company not using its trademark for 5 years could lose the right to use its name.) McDonald's registered its trademark in 1968, but did not open a restaurant because of economic sanctions aimed at bringing down apartheid. South African businessman, George Sombonos, who won the suit, owns the local Chicken Licken restaurant and plans to use the McDonald's name on his own chain of restaurants. The ruling comes a day after McDonald's celebrated the completion of its first South African restaurant in a suburb of Johannesburg, due to open in November along with another in Cape Town under South African franchisees. They will file an appeal. McDonald's does business in 85 countries and operates 15,700 restaurants worldwide. The trademark ruling could jeopardize foreign investment in South Africa that has been boosted by the end of anti-apartheid sanctions following historic all-race elections last year.
(Source: YOUR LINK HERE)CZECH REPUBLIC -- The Czech parliament approved a new foreign exchange law on Tuesday, October 3rd, taking a major step towards making the crown fully convertible and opening the way for the post-communist country to join the OECD (Organization for Economic Development and Cooperation) this year. If it approved, the Czech Republic could become the first former eastern bloc state to join this group of wealthy nations by December.
(Source: YOUR LINK HERE)BERLIN, Germany - Threat to EU medication/drug market. Multinational drugs groups in Europe expect to lose up to $2bn a year in sales when low-priced Spanish and Portuguese medicines can be legally exported to other EU countries starting this week. October 5th, the French and German governments made last-minute pleas to the European Commission to prevent the exports of drugs made in Spain and Portugal or previously imported by the two countries.
(Source: YOUR LINK HERE)
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