World News:
Dubai: The gulf Emirate has lauched the new mega-project Dubailand. With a size more than double than that of Disneyland in Florida there will be 45 different projects ranging from horse tracks and car race tracks to wintersport facilities and hotels in the dunes it is destined to help attract 15 million tourists to Dubai in 2010 (June 22nd 2004).
Price control in France: The new strong man of the French government, the minister of finance and economy, Mr. Sarkozy, who is likely to run for the next presidency in France, managed to get a consent from the giant French retailers like Carrefour, Leclerc and Auchan to reduce their prices by 2% as of September 2004. By this means the sluggish domestic consumption shall be increased. It should be known that the prices are relatively high due to the "law Galland" which forces the producers of famous brands to sell their products at the same prices to all their clients. Of course, such interventions led to a lot of inventions from the retailers e.g. to invoice their suppliers for "special services" which they claim to have performed. So in the end, the consumer pays the price for this state-interveninig policy and "co-operation" between producers and retailers. In a more broader view, it is quite astonishing that such things still prevail in a free economy.
China: The growing demand of the booming Chinese economy for raw material like crude oil, coal, metals boosts the prices on those markets. Should China decide to build up a major strategic oil reserve prices might increase even more.
Saudi Arabia: Due to high unemployment rates for younger Saudis in certain areas of the economy there will be no foreign workers any more allowed in the future; the jewellery trade will be one of the first which has to hire only local employees.
Malaysia: Prime Minister Badawi, the successor of Dr. Mahatir, the father of the Malaysian rise to a developed nation, is up to boost the nation's economy but does not refrain from scrapping national prestige projects like a trans-national rail track. Please contact me should you wish to get more information about the opportunities in this country.
German News:
Germany's diminishing power in football: After the defeat of the German team against the Czech B-Team and the disappointing elimination it has to be stated that Germany is not any more a relevant power in football. A new trainer has the very difficult task to form a new team for the World Championhip in 2006 which will take place in our country.
German Economy: For this year and for 2005 the German economy is due to grow by 1,7%. The growth rate of German export activities is predicted to reach 7,9% this year and 5,1% next year. So, products made in Germany are still in. Please contact my company should you look for special products, I will inquire for you.
The new President-elect of Germany, Mr. Horst Köhler, a professor of Economics who was the director of the IMF for several years, is likely to become a constant reminder that Germany has to conduct badly needed reforms very fast or it will further decline.
In July there will be held again the trade show for young fashion and lifestyle Bread & Butter (www.breadandbutter.de). It is a very interesting venue to meet the decision makers for trendy clothes, shoes and apparel.
Personal News:
The German isle of Usedom with its beautiful beaches (whites sands, clean water), many architectural gems, cool and breezy old beech forests and generally good weather (it claims to have the most sunny hours of all German holiday resorts) has become more and more popular in recent years. Since it would deserve a lot more foreign visitors, I invite you to contact me should you be interested in getting more information about this precious island.
Having read the biography by Edmund Morris of Theodore ("Teddy") Roosevelt you could tend to agree to Mark Twain who said he was "the most popular human being that has ever existed in the United States". Indeed, such an interesting and diverse character would not have been made up by a novelist.
