Posts filed under ‘Global Business’

Pushing the Free Trade Agenda

More than 400 business leaders from around the world took part in this year’s ICC World Business Summit. Organised by the International Chamber of Commerce (ICC) and the Hong Kong Trade Development Council, the 30 June event at the Hong Kong Convention and Exhibition Centre attracted some of the leading lights in international business and economics. Speakers included Martin Wolf, Associate Editor and Chief Economics Commentator of the Financial Times; David Sokol, Chairman of MidAmerican Energy Holdings Company, a subsidiary of Warren Buffet’s investment conglomerate Berkshire Hathaway; as well as Chen Yuan, Chairman of the China Development Bank.

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Source: HongKongTrader.com

July 8, 2010 at 7:15 am

What Border Officials Can Do With Your Laptop And Cellular Phone

Having your laptop searched or detained by Customs on your way back from a business trip would be a nightmare for most business people. This scenario is quite possible under new governmental policies. In fact, it is becoming so frequent that last August, Customs and Border Protection (“CBP”) and Immigration and Customs Enforcement (“ICE”) both issued their respective new policies on border searches of electronic devices. It was a coordinated effort of CBP and ICE to update and harmonize their border policies to detect an array of illegal activities, including terrorism, cash smuggling, contraband, child pornography, copyright, and export control violations. Link

Source: porterwright

February 23, 2010 at 8:00 am

New Head of EU Delegation in Washington Appointed

The European Commission today appointed Mr. João Vale de Almeida as the Head of the European Union Delegation to the United States. He will take up office in Washington in the next months following host-country agrément procedures.

“EU-US relations are a top priority for the European Union,” said European Commission President José Manuel Barroso. “The decision taken today, in the first meeting of the new College [of European Commissioners], to appoint the highest senior official in charge of external relations to be our representative in Washington, testifies to our political commitment to enhance and deepen the transatlantic relationship in a crucial moment for bilateral relations and global governance.”

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February 18, 2010 at 8:47 am

Should Your Business Axe Overseas Assignments?

As businesses continue to navigate their way through—and out of—the global economic crisis, almost every multinational organization is looking to tighten purse strings as we head into another year of what promises to be cautious spending. Unfortunately, expensive international assignment programs are often one of the first areas of focus for wary managers, who could pare down or even temporarily oust these assignments from the budget. Link

Source: S. Cummins & E. Hannibal

January 25, 2010 at 8:00 am

Recovery and Globality: The Commodities Chase

The U.S. economy slowly appears to be regaining its footing. The unemployment rate declined for the first time since the recession began, sliding from 10.2% in October to 10% in November and holding steady in December. Although the fourth-quarter 2009 statistics weren’t yet in as I wrote this, some predict that the U.S. economy may have expanded in the second half of last year by more than 3%. Europe appears to be lagging, but the economies of China, India, Singapore, Indonesia, and South Korea, among others, are growing robustly again. The Great Recession of 2008 and 2009 may be over in most of the world. Link

Source: H. Sirkin

January 22, 2010 at 8:00 am

The Haitian Earthquake’s Economic Aftershocks

The earthquake that hit Haiti on Tuesday measured 7.3 on the Richter scale and has had an immediate and devastating effect on the 2.2 million people who live in the country’s West Province. There’s no doubt that the disaster will be met with a swift outpouring of support from around the globe, with aid coming from governments and individuals alike. But that good will won’t dispel the quake’s lasting economic impact (S. Morgan, SmartMoney, January 13, 2010).

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January 14, 2010 at 2:56 pm

China’s longs market continues to fluctuate

SteelOrbis – Over the past week China’s domestic long products market has retained its fluctuating trend,with a minor slide observed in market prices in most regions and a small climb in some individual markets.

Affected by poor market demand,longs prices in the eastern China market posted an overall declining trend in the past week,which was also caused by the decrease in the steel futures market in the first half of the week. Nevertheless,given the support of high cost levels,the market has not fallen sharply. By the end of December 10,rebar inventory in Shanghai reached 460,000 mt,neutral week on week; meanwhile,wire rod inventory in Shanghai stood at 98,000 mt,up by 5,000 mt week on week.

Driven by the Shanghai market as well as by the decrease in the steel futures market,long product prices in the south registered a minor decline on the whole during the first half of the week; subsequently,however,the market began to see a certain improvement following the recovery of the steel futures market. (Alibaba Group,6 Dec 2009 02:53:24 PST)

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December 17, 2009 at 8:00 am

Global Technology Companies Protest Chinese Procurement Law

Global technology, service and manufacturing companies are raising concerns to the Chinese government over new rules they fear could restrict or block foreign vendors from selling high-tech gear to China’s government agencies. More than two dozen major industry groups from North America, Europe and Asia — representing most of the world’s major technology companies — sent a letter Thursday to Chinese ministries saying they were “deeply troubled” by the Chinese requirement.

The new rule requires vendors to gain accreditation for their products before they can be included in a government procurement catalog of products containing “indigenous innovation.” Companies that aren’t listed in the catalog will theoretically be allowed to bid for government contracts. But those that are listed will apparently be given preference.

At stake are billions of dollars of Chinese government spending on personal computers and application devices, communication products, office equipment, software and energy-efficient products. (By LORETTA CHAO, The Wall Street Journal, DECEMBER 11, 2009)

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December 14, 2009 at 8:00 am

Payment Options for International Transactions

You and your customer will assess many factors as you negotiate the payment term that will be used for your international transaction. They include, but are not limited to:
Value of the transaction;
Your relationship with your customer, new or long-standing;
The country where the goods are destined;
The buyer’s country’s rules about how money will be released to you, the seller; and
Whether the product being shipped is customized, built to specification, or off the shelf.
The global economy is fluid; firms will benefit from regularly examining its own customer base and assessing political, credit and foreign-exchange risks to determine which payment term best suits the situation. There are several sources that provide background information on the buyer’s country and their economy. Options that are available on the internet include:

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December 8, 2009 at 8:00 am

European Commission Welcomes the Entry into Force of the Treaty of Lisbon

Today – December 1, 2009 – sees the entry into force of the Treaty of Lisbon, which provides the European Union with the legal framework and the institutional tools necessary to meet the challenges of the future.

The European Commission believes that the new treaty provides significant new benefits for its citizens. “The Treaty of Lisbon puts its citizens at the center of the European project,” said European Commission President Barroso. “We now have the right institutions to act and a period of stability so that we can focus all our energy on delivering what matters to our citizens.”

The EU will now be better equipped to meet expectations in the fields of energy, climate change, cross-border crime and immigration. And with greater coherence given to the different strands of its external policy, and with the appointment of Herman Van Rompuy and Catherine Ashton to the new posts of EU President and of High Representative of the Union for Foreign Affairs and Security Policy/Vice President of the European Commission, it will also be able to speak with a stronger and clearer voice internationally.

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December 7, 2009 at 8:00 am

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Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
To learn more about the program, please email Kyle Horseman or call 859.426.3653.

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