portfolio | september 2010

Issue 57 ■ September 2010Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 Issue 57 ■■■ September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010 September 2010

PortfolioExclusive to Emirates First Class and Business Class

emirates.comemirates.com

LaurenRags to Riches

SWEET MEDICINEIndia’s Healthy Ambition

THEATRE BOOMChina’s New Act

THE RYDER CUPA Golfing Great

Ralph

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PortfolioExclusive to Emirates First Class and Business Class 5

Features

34 GM’s China BonusAlthough General Motors had to be saved from

bankruptcy by the US government, in China it has

enjoyed stellar growth. That growth is vital to the

company’s future and repaying US taxpayers.

39 Golf’s Big Pay DayThe Ryder Cup has grown from a small event to an

international golfing sensation thanks to a format change

in 1979. Broadcast to more than 100 countries, the

Ryder Cup has also become big business.

46 Loyalty PaysLoyalty cards – those little paper cards that promise a

free sandwich or coffee after 10 purchases – are going

mobile thanks to new smartphone apps.

50 Latin America Races ForwardA history of ups and downs has characterised many Latin

American countries. But current growth is strong and new

policies may mean that the boom is here to stay.

54 A Pharmaceutical EdgeInternational pharmaceutical firms have been on a

buying spree in India. At the same time, the local drug

industry is growing steadily and has lofty ambitions.

58 Paddy ArtThe Japanese village of Inakadate had little to offer

tourists until it came up with the concept of planting rice

to create intricate pictures. That’s pulled in the visitors,

but the economic benefit has been negligible so far.

26 Rags to Riches

Cover Story

This issueSeptember 2010

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5-6 Contents.indd 5 8/22/10 3:08:11 PM

9 NotebookWorld business in a nutshell.

17 ObserverSpotting and analysing business trends.

24 Column: Ed Pilkington Can Tall Be Green?

PortfolioExclusive to Emirates First Class and Business Class

6

Departments

Essentials63 The Next Phuket?

The island of Boracay in the Philippines, 315 kilometres

south of Manila in the Western Visayas region, has world-

renowned tropical beaches and growing visitor numbers.

68 A Long Journey

In terms of physical distance Kakuben Lalabhai Parmar

has travelled a long way from her Gujarati village.

But the change in her life is an even longer and more

astounding journey.

72 Green Community

The $500 million Dockside Green development in Victoria,

Canada, aims for negative carbon emissions through

several innovative and money-saving features.

76 Curtains Up! New theatres are springing up across China and they need

acts to fill their stages. But that’s not as straightforward as

it sounds.

80 Trans-Atlantic Curveball Cricket and baseball have often been used, albeit in a

good-natured way, to illustrate the divide between England

and America. That gap has now been bridged with a new

exhibition at Lord’s.

84 Selling Yourself

Using the internet generates information about our habits

that are used by companies to make money. Wouldn’t it

make sense that the user also benefits in some way?

86 American Icon

The Cadillac SRX crossover gives a lot of bang for your

buck. Good looks, luxury and safety are all part of the deal.

88 Other Business Portfolio takes a light-hearted look at the latest

business news.

Portfolio

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INTERNATIONAL MEDIA REPRESENTATIVESAUSTRALIA Okeeffe Media; Tel +61 89 381 7425, Fax +61 89 382 4850, [email protected] CHINA/HONG KONG Emphasis Media Limited; Tel +85 22 516 1048, Fax +85 22 561 3349, [email protected] CYPRUS Epistle Communications & Media; Tel +35 72 246 6555, Fax +35 72 276 9999, [email protected] FRANCE/SWITZERLAND Intermedia Europe Ltd; Tel +33 15 534 9550, Fax +33 15 534 9549, [email protected] GERMANY IMV International Media Service GmbH; Tel +49 211 887 2310,Fax +49 211 887 2919, [email protected] INDIA Media Star; Tel +91 22 281 5538/39/40, Fax +91 22 283 9619, [email protected] ITALY IMM Italia; Tel +39 023 653 4433, Fax +39 029 998 1376, [email protected] JAPAN Skynet Media Inc.; Tel/Fax +81 43 278 6977, [email protected] TURKEY Media Ltd; Tel +90 212 275 8433, Fax +90 212 275 9228, [email protected] UK Spafax Inflight Media; Tel +44 207 906 2001, Fax +44 207 906 2022, [email protected] USA Redwood Custom Communications Inc.; Tel 212-473-5679 x 313 , Fax 212-260-3509, [email protected]

10,370 copies December 2009

Published for Emirates by

PO Box 2331, Dubai, UAE. Telephone: (+971 4) 2824060,

fax:(+971 4) 2824436, e-mail: [email protected] Printed by Emirates Printing Press, Dubai, UAE

Editor-in-Chief Obaid Humaid Al Tayer Group Editor & Managing Partner Ian Fairservice Group Senior Editor Gina Johnson Senior Editor Guido Duken Deputy Editor Nick Rice Editorial Assistant Hilda D’Souza Art Director Tarak Parekh Senior Designer Rehab Barham General Manager Production & Circulation S Sasidharan Production Manager C Sudhakar General Manager - Group Sales Anthony Milne Email: [email protected] Business Development Manager Nicola Hudson Senior Advertisement Manager Scott Walker

Emirates takes care to ensure that all facts published herein are correct. In the event of any inaccuracy, please contact The Editor. Any opinion expressed is the honest belief of the author based on all available facts. Comments and facts should not be relied upon by the reader in taking commercial, legal, financial or other decisions. Articles are by their nature general, and specialist advice should always be consulted before any actions are taken.

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CYPRUSINVEST WITH CONFIDENCE

More than just a holiday destination with pristine white beaches and 300 days of sunshine, Cyprus can also cater to your business needs ranging from registering and setting up your company’s operations to managing your EU, North African and Middle Eastern clients at a considerably lower cost.

As well as being an EU country and a member of the European Monetary Union since 2008, Cyprus enjoys the lowest corporate tax rate in the EU of 10%. Cyprus belongs to those jurisdictions on the OECD White List which have substantially implemented the internationally agreed tax standard.

In addition to this, Cyprus provides efficient business services, has a transparent legal and regulatory system and is committed to sustainable growth.

Cyprus welcomes both visitors and investors to work here, so, if you are searching for a new business base, consider Cyprus. It’s more than just beaches and sun.

"Columbia's growth and expansion

over the years is attributed to the

un iqueness o f Cyprus ; be ing

the island's strategic position at the

crossroads of three continents,

its comprehensive legal framework,

d o u b l e t a x t r e a t i e s r e g i m e ,

communication system, banking

system, infrastructure in general and

last but not least its highly educated

labor force.”

Captain Dirk Fry, Managing Director Columbia Ship Management Ltd

"Our strategic position on the island

allows us to serve an extensive range

of clients, by taking advantage of our

broad network of 1300 branches

across 80 countries worldwide.

Société Générale Cyprus location

at the crossroads of Europe, Middle

East and North Afr ica , a l lows

a plethora of business prospects in the

region and beyond”

Jean-Claude Boloux, General ManagerSociété Générale Cyprus

There’s more to Cyprus than meets the eye

Severis Bldg9 Makariou III Ave.4th FloorLefkosia 1065, Cyprus

P.O.Box 27032Lefkosia 1641, Cyprus

Tel + 357 22 441133Fax + 357 22 [email protected]

September 2010

9

NotebookBUSINESS NEWS IN BRIEF

Billionaire Sees No Housing Bubble

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10 Notebook

25years in a row is the

time that Japanese

women have held the record

for the world’s longest life

expectancy, with an average

life span of 86.44 years as

of 2009. Men average 79.59

years. That said, Japan is

struggling to cope with the

rising welfare costs of its

rapidly aging society.

320 times greater than

the Sun’s mass

is the recently discovered

giant star, R136a1 spotted

by the British astronomers

of the University of Sheffield.

Previously, the heaviest known

stellar giants were around 150

times the mass of the Sun.

12,500 recycled

plastic

bottles were used to build

the eco-friendly Plastiki – an

18-metre catamaran. The

boat has successfully sailed

across the Pacific Ocean to

arrive at Sydney Harbour. The

expedition, skippered by David

de Rothschild, was to raise

awareness about the perils of

plastic waste.

$32.2 billion is the

whopping

amount that BP will have to

pay to cover the costs of

cleaning up the oil spillage in

the Gulf of Mexico. BP intends

to sell assets worth $30 billion

in order to survive the crisis.

230-year-old bottles

of Veuve Clicquot

champagne were recently

discovered at the bottom of

the Baltic Sea by Swedish

divers. These 30 perfectly

preserved vintage bottles are

by far the oldest

champagne still

drinkable in

the world and

could possibly

be part of a

consignment

sent by

France’s

King Louis

XVI to the

Russian

Imperial

Court.

N u m b e r s G a m e

In FiguresThe World

79 years old is the age Nobel peace laureate Desmond Tutu

has decided to step down from public life, saying, “the

time has come to slow down and watch cricket” after decades

of struggling against injustice.

Elisabetta Gucci’s Dubai Hotel Stalled

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- Trim Size – 270mmH x 206mmW - Bleed Size – 276mmH x 212mmW- 6 mm bleed size around artwork

QTA BODY AD

A

Mind Body SoulIndependent

Portfolio

12 Notebook

HSBC’s Airport Deal

Is the Future Android?The smartphone market is a battleground for dominance and in the US BlackBerry makers Research In Motion (RIM)

dominates the market with 35 per cent, compared to the iPhone at 28 per cent and Google’s Android Operating System

(OS) accounting for just 13 per cent.

But that may change in the future. Recent numbers from both the global marketing and

advertising research company Nielsen and metrics firm Canalys suggest that Google’s

Android platform will take the top spot. Nielsen says Android grabbed 27 per cent

among new mobile subscribers in the US over the past six months, just beating out

Apple’s 23 per cent share. Even more impressive is a report from Canalys that says

Android grew by 886 per cent between April and June compared to the same period

last year. Loyalty is also fairly high for Android, with 71 per cent of current Android

users saying their next phone will be another Android device, according to Nielsen.

Some analysts believe that Android may become as ubiquitous as Windows. Just

like Windows, Android isn’t tied to a specific device, and anyone can develop on top

of the platform.

Drugmakers Hit by Cost Cuts

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14 Notebook

R e s u m é s R e w r i t t e n

VINCENT DAMON FURNIER, OR

Alice Cooper by his stage name, is an

American rock musician who has been

singing, writing and performing for nearly

50 years.

Inspired by horror movies, vaudeville

and garage rock, Cooper has pioneered

a theatrical brand of heavy metal that

was created to shock. In fact, his

performances were so appalling that in

Britain, former Labour MP David Blunkett

called for the show to be banned, saying

“I’m horrified by his behaviour – it goes

beyond the bounds of entertainment.”

However, it was this kind of outraged

reaction that contributed to Alice

Cooper’s initial success. Cooper and

his band were originally signed as an

act after playing an unsuccessful gig at

a club in Venice, California. The music

manager Shep Gordon saw something

that could be made into a positive when

Cooper and band emptied the entire

venue of customers after playing for

only ten minutes. Gordon introduced

Cooper to legendary musician and record

producer Frank Zappa, who signed

Cooper up to a three-album deal. The

performances gained notoriety and

Cooper was a significant contributor to

the new sub-genre of ‘shock rock’. A long

and successful music career has followed

with Cooper releasing 31 albums to date,

with a new album scheduled for release

this year.

However, these days Cooper spends

more time on the golf course than in

the studio. The musician has credited

the sport as playing a major role in

helping him overcome his addiction to

alcohol, and has even gone as far to

say that when he took up golf, it was

a case of replacing one addiction with

another. The importance that golf has

had in his life is also reflected in the

title of his 2007 autobiography, Alice

Cooper, Golf Monster. The rock star,

who has participated in several Pro-Am

competitions, plays the game six days

a week. Since 1997, he has hosted an

annual golf competition, the Alice

Cooper Celebrity AM Golf Tournament,

all proceeds from which go to his

charity, the Solid Rock Foundation.

Cooper has also appeared in

commercials for Callaway Golf equipment

and was a guest of veteran British player

and broadcaster Peter Alliss on the TV

show A Golfer’s Travels. He also wrote

the foreword to the Gary McCord book,

Golf for Dummies. In August 2006,

Cooper took part in an annual celebrity

golf version of the Ryder Cup called the

All Star Cup in South Wales. He won on

the first day, but lost on the second day.

Commentators at the competition, which

was broadcast live on UK television,

made numerous references to Cooper

being the best player. Moreover, in an

interview with VH1, friend and fellow

golfer Pat Boone notably said that Cooper

was “this close to being a pro.”

Alice Cooper

TEXT: HEBA HASHEM

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September 2010

17

BUSINESS NEWS IN BRIEF

Observer

India’s $35 Touch- Screen Computer

Kapil Sibal, India’s human resource development minister, has described the development of a cheap tablet-style laptop as a “dream project” of his.

A new tablet-style computer could represent an Indian 'solution of tomorrow', reports Heba Hashem.

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18 Observer

The new tablet computer is aimed at students and could eventually replace bulky old computers in the classroom.

“The device, which will be officially launched next year, has no hard disk. Instead it relies on a memory card, similar to mobile phones. Planned to run on the Linux operating system, the new device can also operate on solar power.” ■

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September 2010

TOP 10 BILLIONAIRES SAVING THE PLANET

Rank Name Personal Worth Pledge

1 Bill Gates $40 billion $28 billion2 Gordon Moore $2.6 billion $5 billion 3 Richard Branson $2.5 billion $3 billion4 George Soros $11 billion $1 billion5 Ted Turner $1.9 billion $1 billion6 Michael Dell $12.3 billion $1 billion7 Micheal Bloomberg $16 billion $235 million8 Sergey Brin & $12 billion 1% of equity Larry Page and yearly profits9 Jeff Skoll $1.8 billion $40 million

10 Zhengrong Shi $1.1 billion $2 million

TOP 10 ECO-CITIES Rank City Country Eco-City Index* 1 Calgary Canada 145.72 Honolulu United States 145.13 Ottawa Canada 139.94 Helsinki Finland 139.85 Wellington New Zealand 138.96 Minneapolis United States 137.87 Adelaide Australia 137.58 Copenhagen Denmark 137.49 Kobe Japan 135.610 Oslo Norway 135.6

TOP 10 GREENEST COUNTRIES

Country EPI Rank EPI Score Iceland 1 93.5Switzerland 2 89.1Costa Rica 3 86.4Sweden 4 86.0Norway 5 81.1Mauritius 6 80.6France 7 78.2Austria 8 78.1Cuba 9 78.1Colombia 10 76.8

The World

Top 10

SOURCE: EPI.YALE.EDU

SOURCE: MERCER.COM *Index includes the following criteria: Water availability, water potability, waste removal, sewage, air pollution and traffic congestion.

SOURCE: WORTH.COM

High-ranking eco-cities optimise use of renewable energy sources and generate the lowest possible quantity of pollution.

Yale University’s ranking of 149 countries according to an environmental performance index (EPI) – a weighting of carbon and sulphur emissions, water purity and conservation practices.

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Adidas ScoresThe 2010 FIFA World Cup in South Africa has given the German sports goods maker a huge boost as sales of items like

replica shirts, boots and balls soared. Adidas made the kits for 12 World Cup teams, including champion Spain, hosts

South Africa and third ranked Germany. Rivals Nike made the kits for 10 teams at

the tournament, while Puma lagged with seven teams.

Reiterating its target for football-related sales of above €1.5 billion

during 2010, Adidas said sales of football products were up 60 per

cent on the year in the second quarter to end June. Adidas

Chief Executive Herbert Hainer said that

overall, Adidas is targeting 2010 sales of

more than €11 billion, which would be a

new record for the company.

Asia’s Sukuk Charge

DAYS 50 100 150 200 250

TAX FREEDOM DAYTax Freedom Day is the first day of the year in which a nation as a whole has theoretically earned enough income to fund its annual tax burden. Naturally this depends on the taxation rate, so the bigger the tax burden, the longer it takes.

27 MAYGERMANY 180 DAYS

NORWAY 210 DAYS

SWEDEN 210 DAYS

UK 150 DAYS

US 99 DAYS

INDIA 76 DAYS

SOUTH AFRICA 132 DAYS

20 JULY

20 JULY

30 MAY

9 APRIL

14 MARCH

10 MAY

300 360

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September 2010

Dan F. Akerson,

61, has been

tipped to take over

as Chief Executive

of General Motors

Company on

September 1 when

Ed Whitacre Jr.

will step down

after nine months

as the boss of the

US automaker,

headquartered in

Detroit. Whitacre

has been credited

for turning GM

around and

positioning it for

success after the

company was hit hard by recession. Under his stewardship

the company has swung back to profitability and is boasting

its second straight quarterly profit of $1.3 billion, its highest

profit since 2004. Akerson, though a new hand at the wheel,

has served on GM’s board since July 2009. Whitacre has

expressed his confidence in the new chief saying, “he will do

a great job”. Like Whitacre, who used to run AT&T, Akerson

has a strong background in telecommunications, having been

CEO at Nextel Communications and XO Communications in the

past 15 years. Currently he leads the global buyout division of

private-equity giant, Carlyle Group. He also serves on the board

of American Express and Freescale Semiconductor – one of

the world’s largest suppliers of computer chips used in cars.

The Californian-born chief is a tested executive with extensive

operating and management experience having served in several

key roles. His corporate management experience, track record

and deep understanding of global operations provide the

strong foundation that is required for leading the world’s largest

automaker, which is gearing up for an eagerly anticipated initial

public offering.

O N E 2 W A T C H

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22 Observer

More German Growth

Counting the CostAccording to BP the ‘static kill’ of its ruptured Gulf of Mexico oil well has worked,

which is a big step towards sealing it. In this procedure, special drilling fluid known

as mud is pumped into the well, forcing the oil back down. The desired outcome

is that the pressure of the mud controls the oil pressure in the well. Calculating

exactly how much oil was spilled is ongoing and the final tally may still change.

The latest calculations conclude that 4.9 million barrels of oil poured into the Gulf

of Mexico after the blowout of BP’s Macondo well. According to scientists, this

estimate is accurate to within 10 per cent. But one thing is sure, the Macondo

blowout is the greatest accidental marine oil spill in history.

At its peak, the Macondo well was spewing out 62,000 barrels a day and

reduced to 53,000 by the end. These figures make a mockery of initial estimates

that started at 1,000 barrels a day.

Cisco Reveals Tablet Device

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September 2010

Trees Replace Sheep

Intel Buys Anti-Virus FirmG

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Can Tall Be Green?

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Thanks to a retrofit, the Empire State Building is becoming greener. It will cut its carbon footprint by 100,000 metric tonnes over the next 15 years.

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September 2010

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ragsRichesto

Ralph Lauren is the ultimate self-made man. From humble beginnings in the Bronx the fashion designer has gone on to create a fashion empire. But his philosophy has remained unchanged, to design clothes that he wants to wear, reports Ayesha Khan.

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Pro

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Ralph Lauren walks the runway at the Ralph Lauren Spring 2010 fashion show in New York.

“I don’t view it as a business, I view it as something that I was looking for in the stores, but wasn’t finding.”

Ralph Lauren opened his store on Madison Avenue long before the street became a fashion centre. Since then the firm has continually expanded and reported revenues of $5 billion for the fiscal year 2009.

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Pro

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Two rivals shared the stage during the Mobile World Congress (GSMA) in Barcelona. Alierta (right) and Vittorio Colao, CEO of Vodafone, outlined the future of communications.

(L-R) President of Memorial Sloan-Kettering Cancer Centre Dr. Harold Varmus, founder and president of RLC Center Dr. Harold Freeman, Ralph Lauren, Tour de France champion Lance Armstrong, and Mayor Michael Bloomberg attend the Fifth Anniversary Celebration of the Ralph Lauren Centre for Cancer Care and Prevention.

Lauren with his wife Ricky. The two were childhood sweethearts and have been married for 45 years.

“Life can be short and you should get on with doing what you love to do; what makes you grow. I got through it and went back to work without skipping a beat.”

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A model takes to the catwalk during the Ralph Lauren fashion show at the Spring 2010 Mercedes-Benz fashion week in New York City.

Earlier this year Lauren was decorated Chevalier de la Legion d'honneur by French President Nicolas Sarkozy in Paris.

A Ralph Lauren store in London displays the latest Wimbledon styles. Forbes estimates Lauren’s wealth at $4.6 billion, which would make him the 173rd richest person in the world

■


THE LONDON VIEW

INDICATIVE VIEW FROM THE 50TH FLOOR OF THE TOWER TO THE EAST

Overlooking the River Thames and the historic Houses of Parl iament, The Tower, One St George Wharf wil l

be one of Europe’s tal lest residential towers.

Exceptional interior design, elegant exteriors and breathtaking views.

Concierge service provided by internationally renowned Harrods Estate Asset Management.

To be among the very first to preview the ultimate London address by appointment only please contact:

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The exclusive launch of The Tower, One St George Wharf

Saturday 18th September 2010

STG470 Portfolio Mag July.indd 1 17/08/2010 11:43

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Although General Motors had to be saved from bankruptcy by the US government, in China it has enjoyed stellar growth. That growth is vital to the company’s future and repaying the US taxpayers, report David Barboza and Bao Beibei.

A customer looks at vehicles on display at a Buick dealership in Shanghai. In the first half of 2010, GM’s sales in China rose 48.5 per cent over the same period last year.

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Kakuben Lalabhai ParmaMuseum of Art in New York

GM has about 13 per cent of the Chinese car market. China's last emperor was a Buick fan, which may explain why they are selling particularly well.

General Motors’ president and managing director for China operations, Kevin Wale (third from left), took part in the groundbreaking ceremony of the company’s advanced technical centre in June. The new Shanghai research facility will develop electric car, lightweight material and alternative fuel technology for China and the world.

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luxury boats.pdf 4/20/10 4:26:33 PM

September 2010

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Golf’s Big Pay DayThe Ryder Cup has grown from a small event to an international golfing sensation thanks to a format change in 1979. Broadcast to more than 100 countries, the Ryder Cup has also become big business, reports Tony Smart.

Corey Pavin, captain of Team USA, and Colin Montgomerie, Team Europe captain, pose with the coveted Ryder Cup Trophy. Team Europe has won seven and drawn one of the 12 Ryder Cups since 1985.

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The Celtic Manor Wales Open, played on the Twenty Ten course, was a dress rehearsal for October's Ryder Cup. Thanks to a natural amphitheatre, spectators have a fantastic view over the 18th green.

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Hotels in Wales, such as Celtic Manor, are already completely booked for the Ryder Cup.

The Twenty Ten course was purpose built for the Ryder Cup at a cost of £20 million. It has been designed so that large numbers of spectators can move easily between holes and enjoy the best views possible.

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US Ryder Cup captain Azinger celebrates with his team after they defeated the European team to win the 37th Ryder Cup Championship at the Valhalla Golf Club in Louisville in 2008.

Passions run high at the Ryder Cup as the USA and Europe’s top golfers try to bring the coveted trophy home.

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+971 4 405 0000 | www.gulf-finance.ae | [email protected] Finance Corporation PJSC is a finance company licensed and regulated by the UAE Central Bank.

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Loyalty PaysLoyalty cards – those little paper cards that promise a free sandwich or coffee after 10 purchases, but instead get lost or forgotten – are going mobile. And merchants are looking for ways to marry the concept to games that customers can play to earn more free items and, it is hoped, spend more money, reports Claire Cain Miller.

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Loopt Star allows users to share their location and participate in a game that rewards users for visiting certain places regularly. This, in turn, has turned into a valuable marketing tool for businesses, who can choose how to reward behaviour.

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Starbucks has its own iPhone loyalty card, built by mFoundry. Customers collect stars in a cup on their phones every time they make a purchase and get a free drink every 15 visits.≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤≤


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Sam Altman, left, and Alok Deshpande, co-founders of Loopt, use their Loopt Star application at a Starbucks. Consumers get a free drink after every 15 visits.

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“Most users will eventually choose one service because they are unlikely to pull out their cellphones and check in using multiple services.”

CardStar, Loopt Star and CardBank each have their own take on loyalty programmes, and they face plenty of competition in a growing market.


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Latin America Races Forward

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A history of ups and downs has characterised many Latin American countries. But current growth is strong and new policies may mean that the boom is here to stay, reports Simon Romero.

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“Latin America’s growth largely reflects a deepening engagement with Asia. China surpassed the United States last year as Brazil’s top trading partner.˝

Brazilian president Luiz Inácio Lula da Silva (left) addresses the audience as the president of Brazil’s Vale do Rio Doce, Roger Agnelli, looks on, during the inauguration ceremony of the new ThyssenKrupp CSA Siderurgica Do Atlantico plant close to Rio de Janeiro in June. The plant aims to produce five million tonnes of steel annually, which will result in a 40 per cent increase in Brazilian exports.

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More wealth is making itself felt across Latin America. In Buenos Aires, Argentina, the Abasto Shopping Centre is doing brisk business.

Felipe Castillo, the mayor of Los Olivos in Lima, Peru, is investing tax dollars in a public university for 4,000 students.

Chile saved revenues from its copper exports, which allowed it to enact a stimulus plan last year and rebuild after the February earthquake.

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“Latin America’s recovery is translating into new political sway, particularly for Brazil, which has paid its debt to the fund and is seeking to enhance its voting stake in it.˝

The trading floor inside the Interbank building in Lima. Deep inequalities still exist between different industries, as well as parts of the country.


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A Pharmaceutical Edge©

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International pharmaceutical firms have been on a buying spree in India. At the same time, the local drug industry is growing steadily and has lofty ambitions, reports Heather Timmons.

A research associate at Piramal Lifesciences Limited fills medical capsules at a research laboratory in Mumbai.

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India hopes to capture a large segment of the pharmaceutical research and development market. Piramal Lifesciences has 300 scientists researching new drugs in Mumbai.

Ajay Piramal, chairman of the Piramal Group, believes that new drugs can be discovered by Indian companies at a tenth of the cost of Western pharmaceutical giants.


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“Dr. Reddy’s original diabetes drug has completed Phase 3 clinical trials – the last step before seeking Food and Drug Administration approval – the farthest of any of its peers."


New drugs aimed at inflammation, metabolic disorders and cancer are being developed in India.


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Customers buy medicine at a pharmacy in Mumbai. The Indian pharmaceutical industry grew by 25 per cent in the 2008-9 fiscal year.

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“India’s long tradition of generics has fostered a robust educational system for pharmaceutical scientists, as well as longer experience dealing with Western regulators.˝


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A medieval samurai battles a fierce warrior monk in a football field-sized example of paddy art in the Japanese town of Inakadate.

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The Japanese village of Inakadate had little to offer tourists until it came up with the concept of planting rice to create intricate pictures. That’s pulled in the visitors but the economic benefit has been negligible so far, reports Martin Fackler.””””””””””””””””””””””””””””””””””””””””””””””””””””

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“The images have become so intricate and detailed that the mayor, Koyu Suzuki, says visitors often ask if they are actually drawn on the paddies with paints.”

””””””””””””””””””””””””””””””””””””””””””””””””””””

Koichi Hanada, a clerk in the village hall, was asked by the mayor to come up with a plan to lure tourists to Inakadate. He finally came up with the idea of paddy art.

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Initially, the pictures were made up only of dark green and purplish rice plants. But thanks to genetically engineered rice plants, dark red, yellow and white have been added to the palette.

Last year, more than 170,000 visitors came to Inakadate to view the paddy art. It took 1,200 volunteers to plant the rice.

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EssentialsTHE BEST OF LEISURE AND LIFESTYLE

The Next Phuket?The Philippines has been pushing hard to attract more tourists to its sandy shores, and beautiful Boracay appears to be the headline act, reports Lionel Beehner.

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Above: Boracay has two main beaches: White Beach and Bulabog Beach, which are on opposite sides of the island. The four-kilometre-long White Beach has been voted as one of the world’s best. Right: There are also numerous smaller and less popular beaches all around the island. Bottom right: The best way to see the beauty of Boracay and its various beaches is by Paraw (native outrigger sailboat) or Banca (motorised outrigger).

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Travel

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From Mount Luho lookout point the whole of Boracay is visible. The island is dog-bone shaped and has an area of around 10.32 square kilometres.

Visitors walk in the water off Bolabog Beach. Boracays many attractions has seen it become Southeast Asia's newest hot spot.

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Travel

Top: The outdoor D’Mall is one of the main places to shop and eat on Boracay. Left: There are numerous small islands that can be explored by hiring a boat. Above: A red lobster on display at a restaurant on White Beach.

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68 EssentialsCulture

A Long Journey

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In terms of physical distance Kakuben Lalabhai Parmar has travelled a long way from her Gujarati village. But the change in her life is an even longer and more astounding journey, reports Guy Tebay.

Kakuben Lalabhai Parmar, an artisan from Madhutra, India, is an informal ambassador for Sewa and the Crafts Council of India.

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Parmar shows off a mirror shard that she uses in her embroideries. She buys the shards by the kilogramme and cuts them into various shapes using the sharpened edge of a terra cotta roof tile.

It takes Parmar about a week to sew one pillow cover. In the local market the pillow covers sell for $15 a pair, giving her a monthly income of around $60.


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“Now as a globetrotter, an informal ambassador for Sewa and the Crafts Council of India, 40 million to 60 million people gain at least part of their living making handicrafts – she finds herself in circumstances she could never have foreseen.”

Parmar and Swamina tour the Temple of Dender at the Metropolitan Museum of Art in New York. Parmar pointed out a number of similarities between Indian handicrafts and those of other countries, both ancient and modern.

Parmar (right) and Uma Swamina, another Sewa member, took New York in their stride. Parmar says the biggest change in her life was when she was allowed to leave the house and participate in society.


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72 EssentialsEnvironment

Gr n CommunityThe $500 million Dockside Green development in Victoria, Canada, aims for negative carbon emissions through several innovative and money-saving features, reports Linda Baker.

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Pedestrian walkways and ponds at Dockside Green, a 15-acre mixed-use development, along the harbour in Victoria. The development uses the ponds as part of a wastewater recycling system.

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“There is an effort to incorporate residential mixed use in balance with preserving a working harbour, which is very much a part of Victoria’s tradition and economic engine.”

Aerial view of the Dockside development. Victoria bought the site from the provincial government for $1 as the ground was contaminated and had to be rehabilitated.

An efficient ferry service and cycling paths make commuting easy for people living in the Dockside development.


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74 EssentialsEnvironment

At Dockside Green nothing is wasted. Stormwater runoff cascades along pathways en route to the greenway and exterior lighting includes low-level and full cut-off lighting.

Victoria grew around its harbour, which is why waterfront property is being developed as mixed-use residential to maintain the city’s character. The Legislative Building is located directly on the Inner Harbour.


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Windows are fitted with automatic shading devices equipped with a manual override that enables occupants to control both daylight levels and heat gain.

“A passive solar design, fresh air ventilation and efficient appliances help reduce energy use in Dockside Green buildings by about 50 per cent compared with conventional buildings. Because wood waste is considered a zero emission fuel, Dockside Green residents are not charged a carbon tax for heat and hot water.”


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Curtains Up!New theatres are springing up across China and they all need acts to fill their stages. But that’s not as straightforward as it sounds, reports Sonia Kolesnikov-Jessop.

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Art

The newly opened Guangdong Museum of Art in Guangzhou, designed by Rocco Yim, is among China’s efforts to add more cultural attractions. But more cultural attractions also mean increased competition for declining state funding.

For years the Chinese state used to sponsor performances, but the government is now cutting back. That means that both local shows, such as Sound of Yunnan, and international acts have to rely on ticket sales and sponsorships.

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“Although China’s government is pushing for a more market-oriented approach to performing arts, many theatres and arenas rely heavily on the China Arts and Entertainment Group.”


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78 EssentialsArt

“We still need to do a lot of audience building. People in Guangzhou are used to eating out at night. They’re not used to going out to the theatre and buying tickets.”

Well-known Western musicals are of particular interest to Chinese theatre programmers. A production of Cats did a successful tour of 11 Chinese cities in 2007 and 2008.

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Andrew Lloyd Webber’s Phantom of the Opera had a lucrative 12-week Shanghai run in 2006. The Really Useful Group, founded by Webber, will make 40 per cent of its revenue from Asia this year, with China a small but growing market segment.

The Guangzhou Opera House was designed by the famous architect Zaha Hadid. It opened in May this year with a performance of Turandot, which was directed by the Chinese filmmaker Chen Kaige and featured international stars.

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Adam Chadwick is the curator of Lord’s museum. The exhibition Swinging Away: How Cricket and Baseball Connect traces the development of cricket and baseball, and how each game has influenced the other.

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Cricket and baseball have often been used, albeit in a good-natured way, to illustrate the difference between England and America. That gap is now been bridged with a new exhibition at Lord’s, reports John Burns.

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A display at the Lord’s Cricket Ground shows the evolution of both baseball and cricket balls to the forms and variations used in the modern game.

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A statue of a batsman at Lord’s Cricket Ground emphasises that a gracefully played stroke is more important than the end result. That has changed in the Twenty20 format where it is all about putting runs on the board.

A statue of Babe Ruth at the Baseball Hall of Fame in Cooperstown, New York. Babe Ruth epitomised baseball thanks to his win at all costs attitude and the ability to hit the ball out the park.

Swinging Away: How Cricket and Baseball Connect is at Lord’s in London until December 2010. From April 2011 to February 2012 the exhibition will be at Cooperstown, New York.

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84 EssentialsTechnology

Selling YourselfUsing the internet generates information about our habits that are used by companies to make money. Wouldn’t it make sense that the user also benefits in some way? That’s the rationale behind a new startup, reports Steve Lohr.

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Ginsu Yoon and Ian Wilkes are the co-founders of the start-up company Bynamite that aims to give consumers control over their personal information.

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advertising. It does not block ads. Its

website recommends free tools, like AdBlock

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the company has a libertarian, free-

market ethos.”

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American IconThe Cadillac SRX crossover has a lot of bang for your buck. Good looks, luxury and safety are all part of the deal, reports Guido Duken.

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“Under the bonnet the SRX has a standard 3.0-litre V6 that kicks out 198kW at 6,950 RPM and has a torque peak of 302 Nm at 5,100 revs.”

Wood trim, an upholstered instrument panel, and red, white and blue instrument cluster all help to give the SRX its distinctive class and style.

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88 EssentialsOther Business

Back From the Dead The Short Arm of the Law

Too Good Looking?

It is only fitting that Hammer Film Productions Ltd., the maker of 1960s Dracula films starring Christopher Lee, has risen again. The firm is prowling for co-investors as it returns to moviemaking with a remake of a Swedish vampire tale. Founded in 1934, Hammer became known for horror with the release of The Quatermass Xperiment in 1955 and The Curse of Frankenstein. The studio continued making movies until 1979.Hammer and its library of 295 titles was acquired by London’s Exclusive Media Group in 2007. Let Me In, set for release on October 1 in the US, enters theatres as audiences have flocked to Summit Entertainment LLC’s Twilight teen-vampire movies and cable’s HBO airs its third season of True Blood. The studio, which has raised $100 million for operations and production, is looking for an equally enthusiastic response at the box office to attract money to co-finance future films.

88 Essentials-Other business.indd 88 8/22/10 9:05:18 AM

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