EXPORTS: THEATRE OF THE ABSURD
Article Abstract:
Forty one companies have failed to meet their export obligations according to Directorate General of Foreign Trade (DGFT). The companies identified include Pepsi Foods, Nestle India, Associated Cement Companies, Greaves Cotton and TVS Electronics. While DGFT has pulled up Pepsi Foods for not exporting its own manufactured goods, it has pulled up United Distillers India for exporting domestic liquor instead of Scotch whisky bottled in India. It has also pulled Whirlpool of India for not accepting the export obligations Kelvinator of India after it took over the company. Biocon Industries has been identified by DGFT for not fulfilling its export obligation dues worth Rs1.97 crore between 1991 and 1995. While the DGFT opines that the companies have to fulfill their export obligations, the companies opine that export obligation has to be removed. The companies feel that Indian products would find takers if they are competitive. The government of India will have to re-anlyse the export obligation issue as exports have fallen by 7.54% percent during April and May 1998. (ag)
Comment:
India: Forty one companies failed to meet their export obligations according to Directorate General of Foreign Trade
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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Hagemeyer trades up with rival
Article Abstract:
Trading company Hagemeyer NV of the Netherlands is seeking to acquire rival trading company Koninklijke Borsumij Wehry NV of the Netherlands which would subsequently create one of the largest trading companies worldwide with turnover of more than $4.9 billion. Hagemeyer has offered to swap one Hagemeyer share for 4.5 Borsumij shares while also giving one share of Stokvis Union, a subsidiary of Borsumij, to Borsumij shareholders for 13.5 Borsumij shares. Allegations of insider trading of Borsumij shares are being investigated. ABN-Amro Bank is advising Hagemeyer.
Publication Name: Mergers & Acquisitions International
Subject: Business, international
ISSN: 1066-3525
Year: 1995
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Call to boost IT use
Article Abstract:
The Hong Kong Trade Development Council said local exporters should invest more in information technology in order to cope with changes in the US market. The US market is now dominated by a few major retailers as a result of mergers, acquisitions and bankruptcies. Hong Kong exporters should also devote more to product design and innovation to provide better merchandise for the US retailers. Besides, they should develop modern supply-chain management systems to reduce costs and increase efficiency in handling retailers' requests. *
Comment:
Hong K: Trade Dvlpmt Council says local exporters should invest more in information technology to cope w/ changes in US market
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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