Business News

Chinese miners process coal from a mine

China’s dark power

The China Railway High-speed (CRH) train travels at over 300km an hour between Beijing and Taiyuan, capital of Shanxi province. This northern province, with roads congested by overloaded lorries en route for cities, was ChinaÕs principal coal-producing region for a long time, until it was overtaken by Inner Mongolia. Everything is stained with coal: the sad grey villages, the landscape and the people, whose faces and bodies are blackened from working down the mines. Even the water is black: washing the coal after extraction pollutes rivers and groundwater, making it unsuitable for irrigation or drinking. The look of the mines has hardly changed for centuries, even though they are being modernised. Huge heaps of coal at the entrances wait to be transported by lorry. Blackboards on the office walls carry the day’s slogans for the work team leaders and reminders of the decisions of the all-powerful State Administration of Coal Mine Safety, currently run by Zhao Tiechui. The number of mining accidents has risen again since 2010, when there were 1,403 accidents and 2,433 deaths, according to official figuresÊ Even though China plans to build more nuclear power stations and hydroelectric dams, coal remains its main source of electricity, preferred by business, particularly locally. According to the Beijing Development and Reform Commission, Beijing residents will consume 20m tons of coal a year by 2015, compared to 11m tons in 2010 (when there had already been a rise in use). China is one of the world’s biggest coal producers (reserves are estimated at 118bn tons), with depositsÊconcentrated in the north and northeast, where there are no major problems of extraction. It is cheap to extract, and seen as the best way to provide the energy needed to boost growth. The industry provides a lot of employment, particularly in rural areas where […]

Just how widespread is phone hacking?

  The issues surrounding phone hacking and the Murdoch Empire wont be cleared up overnight and will undoubtedly feed the appetites of world media organisations for years to come. I wonder though if hacking in media hasn’t happened before? Can you believe that the Murdoch clan is the only organisation to have done this? And it’s more intricate than that – politicians are involved, the police are involved and the establishment is right in the limelight as the power and control of a massive media empire is now being realised; the impact of its control is frightening the living daylights out of many citizens around the world. The big question may well be “Just who is squeaky clean?”  

Philip Morris launches legal battle over Australian cigarette packaging

Tobacco giant Philip Morris has notified the Australian government that it intends to request arbitration over Canberra’s draft law regarding plain packaging requirements for cigarettes. Hong Kong-based Philip Morris Asia Limited (PMA), owner of Australian affiliate Philip Morris Limited, claims that the law would violate Australia’s obligations under a bilateral investment treaty (BIT) with Hong Kong. “The forced removal of trademarks and other valuable intellectual property is a clear violation of the terms of the agreement,” Philip Morris said “Legal action is not a course we take lightly, but the government has unfortunately left us with no other option,” Anne Edwards, spokesperson for PMA, added. Australia’s Tobacco Plain Packaging Bill 2011, a draft law that aims to make tobacco products less attractive to consumers, would prohibit all logos, along with different colouring and layout on cigarette packs; it would also require that health warnings cover a substantial portion of each package. Though other countries, including New Zealand, the UK, and Uruguay, have previously attempted to adopt similarly strict requirements for cigarette packaging, Australia would be the first country to actually implement such measures. “We’re going to deliver cigarette packages in that drab green, with no logos, nothing attractive or enticing about the package,” Australian Prime Minister Julia Gillard explained in an interview with ABS Melbourne. “We are confident of our reforms – confident we can deliver them and confident that they will make a difference to the number of people smoke and that’s what this is all about,” she added. Tobacco giant’s action follows developing country-led WTO debate PMA’s announcement comes only a few weeks after the same legislation was the subject of heated discussions in the WTO’s Council on Trade-Related Aspects of Intellectual Property Rights (TRIPS). The Dominican Republic led a group of developing countries in criticising Canberra’s draft […]

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Asia Microfinance Forum 2010

The Asia Microfinance Forum 2010 gathered more than 450 experts from over 50 countries in October in Colombo, Sri Lanka. ÊConvened by the Banking With the Poor Network (BWTP) and organised byÊthe Foundation for Development Cooperation (FDC), the three day forum brought together industry experts to brainstorm on the role of microfinance in achievingÊfinancial inclusion in Asia. Over the three days period, experts discussed and debated over major issues facing the industry including financial inclusion, portfolio risk management, social performance, regulatory framework, financial literacy, human resource, client protection and investment landscape among others. A special Sri Lanka session also saw high attendance and attracted much interests. The closing session of the Asia Microfinance Forum is traditionally an opportunity to encapsulate the discussions and emerging issues of the week from the perspective of participants and industry leaders. Giving away his concluding remark, Mr. Craig Wilson, Executive Director FDC (The Foundation for Development Corporation) thanked all the participants saying, ÒOver the last three days many interesting ideas and views have emerged and it was a great learning experience for all of us. There was a high level of engagement during the sessions and I must say I havenÕt seen any of you near the swimming pool during the conference *audience laughter*. I hope that we have done justice to all the issues that we discussed and I am happy that today we have the opportunity to come together and set the agenda for achieving AsiaÕs financial inclusion potentialÓ. Giving audience food for thought Mr. Rolando Victoria, Executive Director of ASKI, said, ÒAs we work on microfinance, some things are beyond our control, and now we are thinking of how we can support members during natural calamities and catastrophe. ÊWe have identified challenges in the governance of MFIs and we have to also […]

Entrepreneur’s Story: Wellnessecity

Amena Lee Schlaikjer has been involved in new enterprises in China for some time, previously describing herself as an “entrepreneurialist” as she’s always launched businesses for others. But she’s just launched her own initiative, Wellnessecity, a Shanghai-based operation aiming to create ways to live healthier in cities. She spoke to ‘eg’ about conceiving and developing her own enterprise – and about getting close to consumers. How long have you been in China? Can you tell us something about your experience in China? If you add up all the years of living in Greater China, including Hong Kong and Taiwan, I’ve been out here for about 18 years. My father was an American diplomat so I spent much of my schooling years in major cities in China Ð Shangahi, Beijing, Guangzhou Ð along with Hong Kong and Taiwan, where my mother is native American ???. I went to University in the States (Columbia and Fashion Institute of Technology in New York); then worked for a few years, before coming out to Shanghai, where I’ve now lived for almost seven years. My adult working years out here have included working in the fashion/cosmetic/lifestyle industries on start-up initiatives: researching for Vogue’s beauty section, Zagat Restaurant Guide, branding for CiCiGirl Cosmetics, launching of the M.A.C counters and then helping start-up ?WhatIf! Innovation. At ?WhatIf!, I wore many hats throughout the businesses but mostly worked on building and promoting the office and team, alerting interest groups, doing projects and managing the business with our directors. What inspired you to start your own business? As of May last year, I took a six month sabbatical to handle some health issues where I created my own “Amena University: Understanding the World of Wellness” in which I also worked on some self-development through an intensive Yoga Teacher’s Trainer’s […]

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