19/12/2012 World Business Report


19/12/2012

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the country's business leaders as well as politicians. The European

:00:12.:00:14.

Commission is today expected to propose larger health warnings on

:00:14.:00:17.

cigarette packets along with a total ban on flavourings such as

:00:17.:00:21.

menthol. But the proposals stop short of forcing all cigarettes to

:00:21.:00:24.

be sold in plain packets carrying graphic health warnings, as has

:00:24.:00:30.

been required in Australia from the start of this month. Still this

:00:31.:00:34.

move in Europe is likely to anger tobacco firms who fear tougher

:00:34.:00:36.

packaging rules will cut already dwindling sales in the region and

:00:36.:00:45.

set a worrying precedent for growth markets in Asia and Africa. Joining

:00:45.:00:47.

us from Brussels is Florence Berteletti- Kemp, Director, Smoke

:00:47.:00:57.
:00:57.:01:00.

Free Partnership. What you make of these proposals in Europe? I would

:01:00.:01:06.

like to answer this question in two parts. With regards to the content

:01:06.:01:13.

of the proposal, we welcome the proposal. The 75% graphic warnings

:01:13.:01:22.

on both sides of the packet. The fact that Slims cigarettes will be

:01:22.:01:29.

banned. And the ban on menthol. Overall we would say the proposal

:01:29.:01:36.

is a revolution. Secondly, with regard to the process, we are

:01:36.:01:43.

relieved that after three years of preparation by the European

:01:43.:01:49.

Commission, is expected, very long- awaited proposals have come up so

:01:49.:01:55.

that the Parliament and Council will be able to debate, discuss its

:01:55.:02:00.

content and hopefully improve the areas which are not yet in a

:02:00.:02:06.

proposal such as plain packaging which you have just mentioned. We

:02:06.:02:10.

expect plain packaging in the proposal, we want it and at the

:02:10.:02:15.

very minimum, we want to make sure there will be nothing in this

:02:15.:02:21.

proposal that would prevent state such as the UK to go further than

:02:21.:02:25.

what the European Commission has proposed. We have seen Australia

:02:25.:02:31.

take this step. Their packages are very graphic. What evidence is

:02:31.:02:39.

there to show that this effect smokers have put its? There is

:02:39.:02:44.

plenty of evidence around the world that the packaging of tobacco

:02:44.:02:49.

products has a huge impact on smoking prevalence, especially

:02:49.:02:55.

among young people. There is the example of Canada. Canada is the

:02:55.:02:59.

first country in the world that introduced graphic warning. If you

:03:00.:03:05.

look at the evidence, and the level of smoking in that country, it is

:03:05.:03:10.

17%. That is a dream number compared to many countries in the

:03:10.:03:20.
:03:20.:03:22.

European Union. The other example is you require. The packet is 80%

:03:22.:03:29.

plane back to front. It is a very good example. The was a decrease of

:03:29.:03:38.

4.3%. In Argentina there was an increase of 3%. Thank you for your

:03:38.:03:43.

time on World Business Report. The will keep an eye on these

:03:43.:03:47.

developments. The World Bank has raised its growth forecast for

:03:47.:03:49.

China, saying stimulus measures and approval of infrastructure projects

:03:49.:03:53.

will help boost the economy. The bank now expects China's economy to

:03:53.:03:57.

grow by 8.4% next year - up from its earlier projection of 8.1%.

:03:57.:04:05.

Rico Hizon is in our Asia business hub in Singapore. Music to years of

:04:05.:04:11.

most around the world that China will grow more than expected?

:04:11.:04:17.

is correct. The World Bank has seen the impact of lower interest rates

:04:17.:04:20.

and public investment in infrastructure beginning to show up

:04:20.:04:28.

in the mainland economic data. Effect will be felt into 2013 as

:04:28.:04:31.

monetary authorities have authorised the approval of large

:04:31.:04:37.

projects. The slowdown of Chinese Grove had prompted policy makers to

:04:37.:04:41.

announce stimulus initiatives, that includes two interest rates since

:04:41.:04:46.

June and approval of major infrastructure projects with 150

:04:46.:04:52.

billion US dollars. That raises its forecast for the developing East

:04:52.:04:57.

Asia region which excludes China. It includes Thailand and the

:04:57.:05:03.

Philippines and them and it will now expand by 5.7%. The banks said

:05:03.:05:08.

the region was likely to benefit from financial recovery from the

:05:08.:05:16.

floods just year and strong growth in the Philippines full. Millions

:05:16.:05:20.

of voters in South Korea have gone to the polls in a presidential

:05:20.:05:23.

election seen as too close to call. The election comes at a difficult

:05:23.:05:28.

time for Asia's fourth-largest economy. Growth has been slowing,

:05:28.:05:30.

exports weakening, and youth unemployment rising. But it's not

:05:30.:05:33.

just politicians who are getting the blame, so are South Korea's big

:05:33.:05:35.

family-owned conglomerates, known as the chaebols. They helped fuel

:05:35.:05:38.

the country's economic rise but calls to reform them now dominate

:05:38.:05:48.
:05:48.:05:50.

the debate. South Koreans, the story goes build their economy

:05:50.:05:55.

brick by brick by pulling together. A generation on, many feel it is

:05:56.:06:03.

time for some redistribution. Charcoal briquettes for the city's

:06:03.:06:08.

porous times a gift from the country's biggest economic China.

:06:08.:06:12.

In this G20, May, some still live through the brutal winters with no

:06:12.:06:16.

central heating. Not everybody benefited equally from the stop

:06:16.:06:20.

Korean economic boom. The wealthiest in six times as much as

:06:20.:06:27.

the poorest and it is the country's most powerful conglomerates being

:06:27.:06:32.

blamed for the gap. We are out of time with that. These big companies

:06:32.:06:36.

will have to chip in more to improve their image. Without doing

:06:36.:06:41.

that, it will be very difficult for them to survive and the business in

:06:41.:06:49.

Korea. Society yeah has matured. and the selection, both candidates

:06:49.:06:54.

have put economic democratisation at the centre of campaigns,

:06:54.:06:59.

accusing the chaebols of squeezing out small businesses, forcing

:06:59.:07:05.

prices and enriching themselves. But the Conservative contender, it

:07:05.:07:12.

has often worries about the South Korean export has crime. Reform of

:07:12.:07:17.

the chaebols and redistribution of wealth may be national demands that

:07:17.:07:21.

cross-party lines, but with the global slowdown starting to bite,

:07:21.:07:26.

for many voters that focus is again switching back to growth. The

:07:26.:07:30.

recession he will not help the poor any more than the rich. In a

:07:30.:07:35.

country that still relies on a handful of businesses for half its

:07:35.:07:39.

GDP, it is likely to entrench the status quo and not change it. As

:07:40.:07:47.

one commentator said recently, people do not worry about political

:07:47.:07:52.

monopoly any more they worry about the economic kind. In other

:07:52.:07:54.

business news, Facebook's photo- sharing site Instagram has denied

:07:54.:07:57.

it plans to sell its users' photos to advertisers. There's been

:07:57.:08:00.

widespread anger from social media users to a change in Instagram's

:08:00.:08:03.

privacy policy, which appeared to give the site the right to sell

:08:03.:08:06.

photos. In a blog, the site's co- founder said Instagram's Terms of

:08:06.:08:09.

Use would be changed to clarify this and he insisted that Instagram

:08:09.:08:13.

did not claim ownership rights of users' photos. The Irish government

:08:13.:08:16.

has voiced its opposition to Ryanair's bid to buy rival Aer

:08:16.:08:19.

Lingus, saying the deal risked damaging competition. However,

:08:19.:08:22.

despite the government holding a 25% stake in Aer Lingus, it is the

:08:22.:08:25.

European Union that will decide whether the takeover can go ahead

:08:25.:08:28.

or not. Ryanair has responded, saying the Irish government has no

:08:28.:08:34.

power to block its bid. It already owns 30% of Aer Lingus. Brussels

:08:34.:08:43.

will rule on the deal early next year. Markets very strong in Asia

:08:43.:08:50.

today. To ban stands up. It has been rising all week ahead of the

:08:50.:08:55.

new government coming into power at the end of the week. He has clear

:08:55.:08:59.

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