ICC provides business views on UN transport treaty

info@icom7.com [Jacques Guiffo Temgo] — Fri, 12 Jun 2009 12:28:01 +0200

The International Chamber of Commerce (ICC) has issued a statement on a United Nations treaty that will provide uniformity for the international carriage of goods.

The draft Convention on the International Carriage of Goods was adopted by the UN General Assembly in December 2008 and will be signed at a ceremony in Rotterdam in September 2009. The treaty will be informally known as the “Rotterdam Rules.” This treaty is an attempt to provide harmonization for the law governing the transport of goods by sea, which is presently subject to a number of different liability regimes.

UCP 600 seminar to focus on solutions for Documentary Credit users

info@icom7.com [Jacques Guiffo] — Thu, 11 Jun 2009 11:06:14 +0200

The challenges facing bankers and other users of Documentary Credits during the current global economic downturn will be the theme of a one-and-a-half-day workshop hosted by ICC on 18-19 June in Paris.

Documentary Credits, also known as a letter of credit, is one of the most secure payment methods in international trade, offering advantages for both importers and exporters.

The workshop entitled “Applying the principles of UCP 600 in today’s turbulent environment” will bring together approximately 70 professionals from 25 countries who will learn, through a series of study-led sessions, how following the UCP rules when structuring their trade transactions can help facilitate the Documentary Credit process and[...]

New ICC Arbitration Court members named

info@icom7.com [Jacques Guiffo] — Thu, 11 Jun 2009 00:23:23 +0200

The ICC World Council has named 12 new vice presidents and 41 new members to the ICC International Court of Arbitration. The new appointments bring the total number of Court members to 125.

The ICC World Council made the appointments at its meeting in Kuala Lumpur on the occasion of the ICC World Chambers Federation Congress in Malaysia.

In addition to the new appointments, the World Council renewed the terms of 56 other members and 12 alternates. Court members serve three-year terms. The Court will have 125 members from 86 countries when its new term begins 1 July.

“The appointments of the new vice presidents in particular reflect the global reach of ICC arbitration, the diversity of its users and the[...]

ICC Banking seminar to focus on the future of world financial markets

info@icom7.com [Jacques Guiffo] — Mon, 08 Jun 2009 20:31:04 +0200

The challenges of rebuilding the world’s financial markets in the aftermath of the global recession will be the theme of a seminar hosted by ICC later this month in Monaco.

ICC, in partnership with ICC Monaco, will host the special session entitled “Rebuilding Financial Markets: the Way Forward.” The joint meeting of the ICC Financial Services and Insurance Commission and the ICC Corporate Economists Advisory Group, to be held on 17 June, will bring together an international body of high-level representatives from financial institutions, corporations, and civil society.

“The challenge for business leaders and financiers during a downturn is to find the right balance between pursuing many unprofitable[...]

Dollar is still very low after 5-month

info@icom7.com [Jacques Guiffo Temgo] — Sun, 24 May 2009 20:27:30 +0200

The greenback loses value after a negative revision on the U.K.'s outlook makes investors wonder if the U.S. is next. Inflationary fears heat up.

The dollar fell to a five-month low against the euro Friday as inflationary fears heated up and the market continued to fret over a downgrade of the U.K.'s outlook.
The 16-nation euro traded at $1.4008, up 0.8% from late Thursday when it ended at $1.3891.
The British pound cost $1.5911, up 0.4% from Thursday's close of $1.5844.

Meanwhile, the dollar gained against the Japanese yen. The dollar bought ¥94.81, up from ¥94.42 late the previous day. The yen is often considered a safe haven in times of market uncertainty.

ICC urges focus on economic development issues at Internet Governance Forum

info@icom7.com [Jacques Guiffo Temgo] — Mon, 18 May 2009 23:51:11 +0200

ICC/ BASIS stressed the importance of Internet governance issues that will promote economic growth, build human and institutional capacities, and address development needs at the open consultations of the Internet Governance Forum (IGF).

ICC/BASIS also reiterated its support for the IGF in its current format as an essential global opportunity for an open dialogue among all stakeholders concerned with Internet governance issues.

The open consultation session in Geneva this week continued preparations for the upcoming IGF in Sharm-el-Sheikh, Egypt, in November.

“With the range of relevant stakeholders participating, the IGF is a unique opportunity to exchange best practices and experiences and complements[...]

April meeting of ICC Commission on Arbitration

info@icom7.com [Jacques Guiffo Temgo] — Thu, 07 May 2009 22:13:32 +0200

The April meeting of the ICC Commission on Arbitration focused on an in-depth view of the current functioning of the ICC International Court of Arbitration and its Secretariat. Significant developments of the past year, including the opening of a branch in Hong Kong and the inauguration of the new ICC Hearing Centre in Paris, were also reviewed.

The one-day session in Paris on 22 April under the chairmanship of Peter Wolrich began with farewell remarks by ICC Secretary General Guy Sebban, who will be stepping down on 30 June. Mr Sebban gave an overview of his main accomplishments during his four-year tenure.

“We have been able to be recognized as an interlocutor of the G20 since the beginning,” Mr Sebban said in a[...]

Congress funding opens doors to information

info@icom7.com [Jacques Guiffo] — Sat, 02 May 2009 15:53:09 +0200

Access to information is paramount to effective business conduct and is often taken for granted by many entrepreneurs. But without funding from the US Center for International Private Enterprise (CIPE), the opportunity to attend the 6th World Chambers Congress in Kuala Lumpur in June this year would not have been possible for over 12 participants.

While it is important for chambers and associations from developing countries to be exposed to ideas and programmes generated by their counterparts in developed countries, chambers and associations in developed countries also have much to learn from the programmes that other organizations implement in economically and politically challenging environments. With support from CIPE, such an exchange of ideas and[...]

ICC issues Model International Transfer of Technology Contract

info@icom7.com [Jacques Guiffo] — Wed, 29 Apr 2009 23:38:56 +0200

ICC today announced the release of the ICC Model International Transfer of Technology Contract.

This publication is the newest addition to the series of international model business contracts developed and published by ICC. It is particularly useful as an increasing number of companies around the world conclude transactions involving the transfer of technology among business entities.

ICC Model International Transfer of Technology Contract addresses the situation where the owner of a well-known trademark licences it to a company which will use it with respect to products other than those manufactured or sold by the licensor. In this case, it is assumed that the licensed products will be designed and developed by the licensee, but the[...]

ICC welcomes G20 boost to trade finance and pledge to conclude Doha Round

info@icom7.com [Jacques Guiffo] — Thu, 09 Apr 2009 22:32:04 +0200

ICC today congratulated the G20 leaders for taking a multilateral approach to resolving the world economic crisis. In particular, ICC applauded their agreement to kick-start trade by significantly increasing trade finance, rapidly concluding the Doha Round of trade negotiations, and strengthening promises to avoid protectionist measures.

ICC commended the decision to ensure US$250 billion of support for trade finance over the next two years and to encourage use of available flexibility in capital requirements for trade finance. This is an essential step as trade, the lifeblood of the global economy, is expected to register a 9% drop this year, its biggest decline since World War II, according to the WTO.

“We are pleased with the[...]

G20 must take action to fight protectionism and support trade finance

info@icom7.com [Jacques Guiffo] — Thu, 02 Apr 2009 23:20:04 +0200

G20 must take action to fight protectionism and support trade finance to keep trade flowing
Leaders of the G20 countries must coordinate their national policies to end the global recession, support a monitoring system to honour previous promises to reject protectionism, and restore trade financing to more normal levels, the International Chamber of Commerce (ICC) said today.

“Trade is the lifeblood of the global economy and the world needs more of it at this critical moment, not less,” said ICC Chairman Victor K. Fung. “The G20 summit in London provides the perfect opportunity for the international community to reassert its confidence in the multilateral trading system, which spurred the[...]

Trade volume and value decline sharply as a result of crisis

info@icom7.com [Jacques Guiffo] — Thu, 26 Mar 2009 22:23:23 +0100

Trade has significantly decreased in both volume and value as a result of the worldwide recession and may be reduced further due to tight credit conditions, ICC said in a report presented at a meeting of banking experts organized by The World Trade Organization (WTO).

“The overall decrease in volume and value is confirmed,” Vincent O’Brien of the ICC Commission on Banking Technique and Practice, told the gathering. “Tight credit conditions may further reduce access to trade finance.”
Mr O’Brien added that 47% of the 122 banks surveyed reported a decrease in export Letter of Credit (LC) volume and that 43% reported a decrease in LC value of aggregate transactions.

New tool launched to help RESIST corruption

info@icom7.com [Jacques Guiffo] — Wed, 18 Mar 2009 16:24:59 +0100

Knowing how to respond to inappropriate client demands can be challenging for company employees, especially if the demand is accompanied by a threat. But help is now at hand in the form of a practical new tool, launched today, to help business better address the risk of solicitation and extortion.

RESIST (Resisting Extortions and Solicitations in International Transactions) – jointly developed by the International Chamber of Commerce, in partnership with Transparency International, the UN Global Compact and the World Economic Forum – raises employee awareness of how to prevent demands from being made, and sets out practical measures on how to respond to dilemmas in the most efficient and ethical manner when they cannot be avoided.

ICC to celebrate 90th anniversary in Paris

info@icom7.com [Jacques Guiffo] — Thu, 05 Mar 2009 20:59:37 +0100

ICC will celebrate its 90th anniversary tonight at a formal dinner hosted by French Economy, Industry and Employment Minister Christine Lagarde and attended by more than 120 business leaders.

Madame Lagarde will be the keynote speaker at the dinner, which will be held at the Ministry on the banks of the Seine River. Angel Gurría, Secretary-General of the Organization for Economic Co-Operation and Development, Victor K. Fung, Chairman of the International Chamber of Commerce, and Gérard Worms, Chairman of ICC France, will also address the gathering

Founded in 1919, ICC promotes trade and investment across frontiers and helps business corporations face the challenges and seize the opportunities[...]

Contest for second bi-annual World Business Law Prize

info@icom7.com [jacques guiffo] — Mon, 23 Feb 2009 22:56:45 +0100

The ICC Institute of World Business Law has launched the 2009 contest for its bi-annual prize rewarding outstanding legal writing and contributions to international commercial law. The winner will receive a €10,000 cheque.

The first edition of the prize, launched in 2007, saw 11 entries in both English and French from six countries. Among the topics covered were the Vienna Convention, international contract negotiations, international global disputes at the World Trade Organization, and a variety of global issues in arbitration.

The award went to Vincent Chantebout for his submission: “The prohibition of the review on the substance of the arbitral award.” Mr Chantebout’s paper was chosen unanimously by[...]

IBM becomes largest vendor in Indian IT services marketing

info@icom7.com [Jacques Guiffo] — Fri, 20 Feb 2009 16:49:08 +0100

IBM Global Services, business and technology services provider has emerged as the largest vendor in the IT Services market in India with a market share of 10.8 per cent, according to a research report.

Springboard Research, infotech tracking firm in its report titled 'India IT Services Competing for Tomorrows Market' ranked Wipro and TCS-CMC in the second and third place, with a market share of 8.7 per cent and 6.1 per cent respectively.

The Indian IT services market is estimated to be 4.8 billion dollar.
IBM continues to be the leader as it continued the momentum this year by signing some major contracts in emerging verticals like retail, healthcare and insurance along with further consolidating its position in[...]

ICC kicks off 90th anniversary celebrations with launch of Research Foundation

info@icom7.com [Jacques Guiffo] — Wed, 04 Feb 2009 16:06:41 +0100

Over 270 business leaders converge in Geneva today to celebrate the International Chamber of Commerce’s 90th anniversary, which will be highlighted by the launch of the ICC Research Foundation.

The ICC Research Foundation was established in December last year to reinforce ICC’s role of providing global intellectual leadership on public policy issues of major concern to business and peoples around the world.

“What is needed now is a way to make a compelling case for world trade, in the context of today’s world, that is accessible to all and based on well-designed research,” said Victor K. Fung, ICC Chairman and Chairman of the Hong Kong-based Li & Fung Group. “That[...]

A Guide to Self-Employment, Working for yourself

info@icom7.com [Jacques Guiffo Temgo] — Mon, 26 Jan 2009 22:13:58 +0100

Advice for recently laid-off workers considering going into business for themselves

So you lost your job. Now what? As an employee, you had a daily routine, health insurance coverage, and a regular paycheck. You liked the security—while it lasted. And if you sometimes daydreamed about the freedom of working for yourself, leaving a full-time job never seemed worth the risk.

But now, laid off into a recession and the worst job market in decades—2.6 million Americans lost jobs in 2008, with 524,000 eliminated in December alone—you may be thinking self-employment sounds like the best path out of unemployment. Rather than try to land one of the few open jobs out there, maybe you could work as a freelancer or[...]

ICC to hold international contracts training

info@icom7.com [Jacques Guiffo] — Mon, 19 Jan 2009 17:41:56 +0100

The success of international business depends on the quality of contracts signed. Too often, if the relationship between parties deteriorates, loopholes in the contract make the situation worse. Negotiating and drafting a contract are important skills and techniques that need to be learned.

Following on from the successful training provided in previous years, the ICC Institute of World Business Law is organizing a three and a half day PIDA training on negotiating and drafting international contracts, as well as managing the "post-contract" and dealing with different kinds of conflict resolution.

To be held in Paris from 23-26 February, the training will focus on the main problems that arise in[...]

European Central Bank Cuts Rates to 2 Percent

info@icom7.com [Jules Temgo] — Thu, 15 Jan 2009 23:40:20 +0100

The European Central Bank reduced a key interest rate by half a percentage point today, an aggressive step by an institution that has taken a more conservative approach to the current economic crisis than the Federal Reserve and other major central banks around the world.

The decision reflects the accumulation of evidence showing that the European economy has followed that of the United States into recession, with major economies such as Germany facing a steep drop in industrial production and trade.

Just last month, the bank made its deepest rate cut ever, and at the time ECB President Jean-Claude Trichet indicated that further cuts were unlikely until it was clear how that round would affect the economy -- and particularly the rate of[...]

What Obama’s Proposed Tax Cuts Mean for Small Businesses

info@icom7.com [Jacques Guiffo] — Thu, 08 Jan 2009 12:25:50 +0100

Here’s a welcome report for entrepreneurs this new year: President-elect Barack Obama’s massive stimulus plan is expected to include three key tax breaks for small-business owners.

Details are still emerging, but the plan could include a longer window for businesses to “carry back” losses; an incentive to invest in machinery, equipment and other capital improvements; and a tax credit for job creation.

How soon can that get money into your hands? Faster than you might imagine. I spoke with Barbara Weltman, a tax attorney in Millwood, N.Y., who says an extension of a carry back period for losses could significantly help businesses that had been profitable in years past, but struggled in[...]

Global economy likely to be weakest in 2009

info@icom7.com [jules temgo] — Mon, 29 Dec 2008 15:03:23 +0100

The year 2009 is likely to be the weakest year for the global economy since the second world war, largely because of the recessionary trend in advanced economies, media reports says.
"Forecasters say 2009 is shaping up to be the weakest year for the global economy for decades, and possibly since the second world war," the Sunday Times said.

The International Monetary Fund (IMF), which has revised down its world forecasts twice since the summer, will shortly unveil new predictions that will show the global economy formally in recession, the report added.
According to Consensus Economics, on the basis of assessing economic growth using market exchange rates, global growth next year would be only 0.4 per cent, the weakest since[...]

ICC experts discuss the financial crisis and its implications

info@icom7.com [Jacques Guiffo Temgo] — Sat, 20 Dec 2008 00:04:09 +0100

The ICC Corporate Economists Advisory Group and Commission on Financial Services and Insurance held a joint meeting on 25 November to discuss the current financial crisis and its implications. The meeting brought together business experts who provided accounting, credit agency, industry and regulatory perspectives on how to restore confidence in global financial markets.

As financial turbulence reached unprecedented levels worldwide amid a global credit crunch, the ICC panelists addressed the implications of the financial crisis for financial regulation, corporate governance, accounting standards, remuneration, including the risk profile of hedge funds and the investment strategies of sovereign wealth funds.

The meeting was attended[...]

Business backs Internet Governance Forum

info@icom7.com [Jacques Guiffo Temgo] — Thu, 11 Dec 2008 23:50:46 +0100

Business has shown support for the continuation of the multistakeholder Internet Governance Forum (IGF) beyond its mandate of 2010 in its current format.

Speaking on behalf of the International Chamber of Commerce initiative Business Action to Support the Information Society (BASIS), Art Reilly, Senior Director of Cisco Systems and BASIS member, underscored the benefits of the annual gathering. “Those with seemingly incompatible views have found common ground through greater understanding,” he said. “This approach ensures movement on substantive issues and is progress.”

Mr Reilly made his observations during the closing ceremony of the 2008 IGF on 6 December in Hyderabad, India.

Europeans make big rate cuts to fight recession

info@icom7.com [Jean de Dieu] — Fri, 05 Dec 2008 12:33:12 +0100

The European Central Bank, Britain and Sweden all made big cuts in interest rates on Thursday to shore up economies across Europe in the face of ever-bleaker financial news.

The cuts were applauded by many analysts but market reaction indicated that even more sweeping moves may be needed to halt the decline.

Sweden lopped off a record 175 basis points to 2.0 percent and the ECB slashed 75 points to 2.50 percent, the eurozone's biggest ever cut.

The Bank of England chopped 100 basis points for an interest rate of 2.0 percent, the lowest level since 1951, as recession loomed over Britain.

France meanwhile unveiled a 26 billion euro ($32.9 billion) stimulus plan for its[...]

Why the dollar is getting stronger?

info@icom7.com [Jules Temgo] — Wed, 03 Dec 2008 19:07:36 +0100

Investors have every reason to hate the US dollar. The rising deficit. The deteriorating economy. The plunging stock and bond markets.
But rather than getting hammered by the financial crisis, the greenback is soaring. Since July the dollar is up 19% against the euro and 24% against the British pound.

Whether it’s a boon or a burden depends on perspective. US companies with huge exports aren’t thrilled, since a strong dollar hurts sales even as US consumers travelling to Paris will find their cash buys more than before.

What’s behind the dollar’s surprising strength? First, there’s the fear factor. During tough economic times, investors often flee foreign currencies and[...]

African chambers unite to strengthen private sector role

info@icom7.com [Jacques Guiffo Temgo] — Wed, 26 Nov 2008 03:17:54 +0100

African chambers of commerce met in the Ethiopian capital today to strengthen the continental chamber network, to lend greater support to the continent’s private sector and work more closely with chambers globally.

The conference was held in the context of preparing African business to compete effectively and win market share amid ongoing globalization.

Prince Sifiso Zulu led the discussions in the session focusing on the future role of chambers in Africa.“Developing economies are becoming more important, particularly in the light of the current global economic climate,” said Prince Sifiso Zulu, Vice Chair, ICC World Chambers Federation (WCF) and Past President of the Durban Chamber of Commerce. “It[...]

Credit crisis forces emergency moves by Saudi, UAE

info@icom7.com [webmaster] — Sun, 23 Nov 2008 21:47:21 +0100

Saudi Arabia slashed interest rates for an unprecedented third time since October and the United Arab Emirates intervened in a property merger on on Sunday in moves to contain the impact of the credit crunch.

The developments show how the global financial crisis has torn through the Arab Peninsula, until recently thought immune due to massive sovereign savings and earnings from energy exports, with almost the same violence as in Europe and North America.

Saudi Arabia, the world's biggest oil exporter, reduced its key repurchase rate by 100 basis points to 3 percent to keep credit markets moving and boost domestic liquidity.

The kingdom's central bank also lowered reserve requirements to 7[...]

Yahoo without a CEO could make sense

info@icom7.com [webmaster] — Wed, 19 Nov 2008 10:53:28 +0100

The best candidate to take over for Jerry Yang as chief executive at Yahoo Inc may be a dealmaker, or nobody at all.

Speculation has focused on well-known Internet and media figuresJon Miller, formerly of AOL, Peter Chernin, currently of News Corp, Dan Rosensweig, formerly of Yahoo , and Susan Decker, currently its president, among others.

Each has a logic in terms of ability to remake Yahoo. The merit of nobody is that any other choice only delays what many investors see as the best alternative for struggling Yahoo -- to revive some form of a deal to sell all or part of the company to Microsoft Corp. "What Yahoo may need is a dealmaker, not a CEO,"[...]

ICC Chairman urges G20 leaders to adopt bold solutions to financial crisis

info@icom7.com [Jacques Guiffo] — Thu, 13 Nov 2008 23:05:39 +0100

Victor K. Fung, Chairman of ICC, has called on the leaders of the G20 nations to take bold and responsible actions to restore confidence in the world economy, including bringing the Doha Round to a successful conclusion.

In a statement issued today, ICC welcomed the summit of G20 leaders in Washington at the end of this week to coordinate a response to the global financial crisis and stressed the need for increased international cooperation in trade and finance.

“In finance, as in other areas of today’s interdependent world economy, international cooperation is vital to tackle major problems which transcend national boundaries, and which governments are increasingly unable to resolve on their own,” Mr Fung[...]

Obama's Impact on Small Business

info@icom7.com [Jacques Guiffo] — Sun, 09 Nov 2008 11:49:59 +0100

Three experts answer questions on income taxes, depreciation deductions, labor policy, unions, medical leaves, and health-care reform

The election is finally over, and as the dust settles, it's time for some accounting. How will small businesses fare under an Obama administration? Smart Answers columnist Karen E. Klein asked three experts—Bill Rys, tax counsel for advocacy group National Federation of Independent Business; Jay Sumner, labor law attorney with the law firm of Littler Mendelson; and John Arensmeyer, executive director of advocacy group Small Business Majority—to comment about issues important to entrepreneurs, including taxes, labor policy, and health care. Edited excerpts of their conversations[...]

US election to benefit some industries, harm others

info@icom7.com [Jacques Guiffo] — Tue, 04 Nov 2008 10:18:34 +0100

Battered by the financial meltdown, America's business community is anxiously calculating how Tuesday's presidential election will aff ect it.

nergy, pharmaceutical and telecommunications companies could face tax and other policy changes no matter who wins the White House. The outcome also could determine how well alternative energy developers, generic biotechnology companies, stem cell researchers and others fare.

Labor unions put major resources behind Democrat Barack Obama and could wind up a big winner if he takes the White House. Nuclear power and the coal industry would get a boost if Republican John McCain prevails. Obama promises to raise corporate tax rates and income taxes on families making over $250,000; McCain[...]

Google tool to keep emails sober

info@icom7.com [Masresha Yimer] — Sat, 18 Oct 2008 01:23:34 +0200

SAN FRANCISCO (AFP) - Google has adapted its free email service to help those letting loose after a few evening cocktails or succumbing to lovelorn moments from firing off messages they might regret in the morning.

Mail Goggles software comes to life after dark and on weekends, when altered states of mind are more probable, and requires that five simple math problems be answered correctly in less than a minute in order to send a Gmail missive.

"Sometimes I send messages I shouldn't send," Gmail engineer Jon Perlow wrote Monday in a website posting announcing the optional new feature.

"Like the time I told that girl I had a crush on her over text message. Or the time I sent that late night email[...]

EU Scientists Demonstrating Encryption System

info@icom7.com [Masresha Yimer] — Sat, 18 Oct 2008 01:29:16 +0200

World première in Vienna: Quantum Cryptography Secures Communication in a Commercial Network

For the first time the transmission of data secured by quantum cryptography is demonstrated within a commercial telecommunications network. 41 partners from 12 European countries have worked on realizing this quantum cryptographic network since April 2004. The overall objective is the integration of quantum cryptography into modern business applications. The work has been carried out within the Integrated EU-Project SECOQC (Development of a Global Network for Secure Communication Based on Quantum Cryptography), led by the Austrian Research Centers. The presentation of the quantum-cryptographic network marks the successful completion of the project after four[...]

Zimbabwe replaces $10 trillion banknote

info@icom7.com [webmaster] — Thu, 18 Sep 2008 18:02:04 +0200

The Reserve Bank of Zimbabwe (RBZ) has introduced a $1,000 note -- $10 trillion in the old value -- as the country battles to end cash shortages in the hyper-inflationary environment.

However, analysts said the new note -- which can only buy a loaf of bread -- will not ease pressure on cash shortages because of the ever-increasing prices.

"It will not make even a small impact. What we need in Zimbabwe is a clear change of policies, start production and then inflation will start easing up," said John Robertson, an economic consultant. "The zeros seem to be coming back no matter how often they slash them."

In August, Zimbabwe slashed ten zeroes[...]

ICC to hold arbitration workshop

info@icom7.com [Jacques Jules Guiffo Temgo] — Tue, 26 Aug 2008 01:05:13 +0200

The ICC Institute of World Business Law is holding a three-and-a-half day workshop at the Paris Secretariat on 13-16 October, to familiarize legal professionals with the very latest practices in international commercial arbitration.

This course is an annual fixture, and has been the springboard for many lawyers to ‘get their feet wet’ in international commercial arbitration,” said Serge Lazareff, Chairman of the ICC Institute of World Business Law.[...]

ICC jointly publishes ‘Business Case against Corruption’

info@icom7.com [webmaster] — Sat, 23 Aug 2008 13:05:14 +0200

To raise awareness of how companies can better counter corruption, ICC is publishing today “Clean Business Is Good Business: The Business Case against Corruption

ICC has teamed up with Transparency International, the United Nations Global Compact, and the World Economic Forum Partnering Against Corruption Initiative in the publication of this invaluable guide.
Corruption is not only the biggest obstacle to development and economic growth, but also a major risk to companies, as recent stories in the press have demonstrated. Many corporate leaders today have assumed responsibility and implemented effective programmes to address the issue within their own organizations, and in collaboration with others
The joint publication by[...]

China's huge market is biggest Olympic prize

info@icom7.com [Jacques Jules Guiffo Temgo] — Sat, 16 Aug 2008 11:22:44 +0200

More than 17 million people live in Beijing, China, the host city for the Summer Olympics that open Friday. That is more than the population of the past four host cities — Athens, Sydney, Atlanta and Barcelona — combined. China counts 1.3 billion residents, more than any country on Earth.

Never before has an Olympics been staged in a market so big — and so underserved. Though capitalism has been a fact of life[...]

How much is Olympic ideal -- or decoration?

info@icom7.com [Jacques Guiffo] — Sat, 09 Aug 2008 20:37:24 +0200

BEIJING -- The shirtless old man shuffled down the middle of the narrow street, teeth as brown as his socks, the decay spreading into a smile.

"People only look at the bad things in our country," Zhang Wen Bin said. "The Olympics will make them look at the good things." Under a sweltering, smoggy midday sun in this ancient neighborhood, it is difficult to find those good things.

The alleys are lined with soda bottles filled with freshly boiled water. Dirty windows open to the sound of noisy fans clattering over junk-filled rooms. A bare-bottomed child plays in a murky puddle.

Everyone, it seems, is hunched over against the sun and sweating through the heat.
But, like Zhang, it seems[...]

Google to launch service to view British streets online

info@icom7.com [Jacques Guiffo] — Thu, 31 Jul 2008 08:44:07 +0200

London, July 31 (IANS) Google has cleared the hurdle of an anti-privacy case to go ahead with the launch this year of its Street View service which will offer ground level pictures of every British street online.

Street View faced opposition from lawyers who said it infringes civil liberties. Some said it would help burglars select their targets in advance.

Privacy watchdog Information Commissioner's Office, however, brushed aside the objections. 'We are satisfied that Google is putting in place adequate safeguards to avoid any risk to the privacy or safety of individuals, including the blurring of vehicle registration marks and the faces of anyone included in Street View images.
'Although it is possible that in[...]

Cuil search engine takes on Google

info@icom7.com [webmaster] — Wed, 30 Jul 2008 08:24:26 +0200

A new search engine dubbed Cuil is hoping to offer a rival to the likes of Google, Yahoo and Ask.
Cuil is pronounced 'cool' and comes from an old Irish word meaning 'knowledge'.

The site has indexed 120 billion web pages, which it claims is three times more than any other search engine, and results are organised by ideas rather than just rankings. Cuil also boasts complete user privacy.

The new search engine will attempt to analyse the context of each page and the concepts behind each query, thereby grouping similar results together and sorting them by[...]

ICC updates bank-to-bank reimbursement rules

info@icom7.com [webmaster] — Tue, 22 Jul 2008 00:46:51 +0200

James Borel, Group Vice President of agricultural and chemicals multinational DuPont, represented ICC during the High-level Thematic Debate on Rural Development organized by the UN Economic and Social Council (ECOSOC) here on 3 July 2008.

Mr Borel detailed a five-point plan for reforming the agricultural economy to UN members and other stakeholders. He also highlighted the importance of a successful agricultural economy, not only as short-term solution for poverty alleviation but also as a requirement for achieving sustainability.

“Agriculture must be a higher priority in a world of increasing food demand and limited resources,” Mr Borel said.

Buttressing his argument, Mr Borel cited a recent World[...]

ICC hails G8 pledge to halve emissions

info@icom7.com [Jacques Jules Guiffo Temgo] — Thu, 10 Jul 2008 01:08:29 +0200

ICC welcomed a historic statement by the G8 group of industrial nations today to halve greenhouse gas emissions by 2050, and calling on all major economies to commit to meaningful mitigation actions in the international agreement to be negotiated by the end of next year.

“The nations of the G8 are leading by the example they are setting today. Business welcomes this commitment by the world’s largest economies towards an inclusive global agreement on climate change. Business will be by far the largest developer, user and investor in clean technology to address global warming. A global pact is necessary to give business the level of certainty it needs to make these major investments,” said ICC Secretary General Guy Sebban.[...]

Deutsche Bank appoints Amrit Singh as M&A chief

info@icom7.com [icom7 Team] — Sat, 28 Jun 2008 14:47:37 +0200

MUMBAI: Deutsche Bank on Thursday appointed Amrit Singh as the head of Merger & Acquisitions (M&A) India of its subsidiary Deutsche Equities India Pvt Ltd (DEIPL).
"His addition to the M&A team, he will help consolidate our position as the dominant player in investment banking in the country," Deutsche Bank India Managing Director Gunit Chadha said in a statement.
The company has built strong momentum based on structuring and execution capabilities and with the appointment it would further strengthen that process, he said.

IPhone at just over Rs 8,000? Well, may not be

info@icom7.com [icom7 Team] — Sat, 28 Jun 2008 14:43:58 +0200

Vodafone and Airtel started pre-registering customers for the iPhone 3G this week, and ever since, offices and blogs have been abuzz with discussions on what Apple’s much-awaited product will be priced at.
Many think it will be just a shade over Rs 8,000 — the rupee equivalent of the price in the US, which is $199. Now, that’s a fantastic price for the 8GB product, and will certainly have every competitor worried.
Nokia’s 8GB N95 smartphone , for instance, is priced at well over Rs 25,000, and its new N96 is expected to come at over Rs 36,000.
But we think the iPhone, expected to hit the Indian market in September, will be priced substantially higher than Rs 8,000.
The $199 price is[...]

ICC takes part in UN hearings on Financing for Development

info@icom7.com [Jacques Guiffo] — Fri, 27 Jun 2008 22:45:17 +0200

ICC participated in hearings on the review of the Monterrey Consensus on Financing for Development on 18 June at the UN headquarters in New York.
The hearings were organized in preparation for the Follow-up International Conference on Financing for Development to Review the Implementation of the Monterrey Consensus to be held in Doha, Qatar, from 29 November to 2 December 2008.
ICC’s presentation provided a world business perspective on the key contribution made by cross-border trade and investment to development financing, over the period since the Monterrey Consensus was adopted in 2002. The presentation also considered the implications of recent economic, trade and investment policy developments for the review process.
The[...]

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