LVMH STRENGTHENS POSITION IN UPSCALE WATCHES AND JEWELRY
PARIS, France -- In a move to strengthen the group's position in the
luxury watch and jewelry market, LVMH (Moet Hennessy Louis Vuitton) has acquired
Zenith International S.A. LVMH has already built a strong presence in this upscale market
sector with brands such as TAG Heuer, Ebel, Chaumet, Fred and Christian Dior.
This new watch and jewelry division is expected to yield an annual turnover of about
1 billion Swiss francs.
Reader's Comments
(Source: YOUR LINK HERE)
SUGAR PRICES TO DECLINE AGAIN
LONDON, UK -- Sugar prices are likely to drop again this year, after three years
of oversupply. Prices are already nearly 50% of those from 1995. And production this
year is estimated to reach about 135.2 million metric tons, surpassing last year's record
production of 133.9 metric tons.
The world's top sugar producers include:
[in millions of metric tons]
- Brazil, 19.75
- European Union, 19.10
- India, 17.40
- China, 8.9
- United States, 8.81
- Thailand, 6
- Australia, 5.4
- Mexico, 5.48
- Pakistan, 3.58
(Source: YOUR LINK HERE)
GLOBAL TARIFF LIBERALIZATION TO HAVE GREATER IMPACT ON DEVELOPING NATIONS
PARIS, France & BEIJING, China -- Global trade talks planned for the
end of this month will cover the topic of tariff liberalization which should
boost economic output around the globe by about 3% (equivalent to approx.
US$1.2 trillion/1.7 trillion euros).
According to the OECD, "every single country or group of countries
stand to benefit from tariff liberalisation, with the benefits proportionate to the degree
of liberalisation." They project that the developing world would gain around 4.9% in GDP from
such market opening, compared with 2.5% for the industrial nations.
In the past 15 years, developing countries' share of world trade has
risen from less than 20%. Today, their share represents about 30% of trade. And
among these nations, China, India and Africa stand to gain the most from these new
policies. India would be the biggest gainer, with a gross domestic product (GDP)
boost of some 9.6%, followed by China with 5.5% and sub-Saharan Africa with 3.7%,
according to a report published by the OECD on multilateral trade liberalization
and non-OECD countries.
On November 15, Chinese and U.S. negotiators signed a breakthrough agreement to remove trade
barriers between the two nations. The agreement obligates China to cut tariffs an average of 23% and
promises greater access to the relatively closed Chinese market for U.S. banks, insurance and
telecommunications companies, as well as Hollywood film exporters. These changes will not take place,
however, until China gains entry to the WTO. Once this takes place, and China adapts to WTO standards, this
will reduce many distribution and regulatory hardships that U.S.and other businesses now face in China.
(Source: YOUR LINK HERE)
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LAST MINUTE TRAVEL BARGAINS -- Special Discounted
Fares
American Airlines' Net SAAver and Net SAAver International offers last minute travel
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[Restrictions apply. Check with American Airlines or our
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International flight departures leave on Thursday or Friday, December 2 - 3, 1999 .
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