Uruguay

HSBC trying to sell South American businesses

Europe‘s biggest bank said in a statement to the stock exchange here, where it is listed, that it “is in discussions regarding the possible sale of its operations in Colombia, Peru, Uruguay and Paraguay”.

 

“HSBC will make a further announcement if or when appropriate,” the brief statement said, without elaborating on the talks.

 

HSBC chief executive Stuart Gulliver last year announced plans to focus on high-growth emerging markets and save up to $3.5 billion through asset sales and a war on costs, including axing 30,000 jobs globally by 2013.

 

HSBC has already disposed of its United States credit card and retail services business, as well as the 195-branch network primarily in upstate New York.

 

In March, it sold its general insurance businesses in Hong Kong, Singapore, Argentina and Mexico for around $914 million. It has also sold its Canadian retail brokerage and exited retail banking in Russia, Chile and Poland.

 

HSBC announced Tuesday that its underlying pre-tax profits rose 25 per cent to $6.8 billion in the first quarter, helped by emerging markets growth and higher income at its investment banking division.

 

“We have had a good start to the year,” Gulliver has said.

 

HSBC — which unlike many of its rivals survived the 2008 crisis without state aid — was founded in Hong Kong and Shanghai in 1865, although it remains headquartered in London.

New iPad available in Malaysia April 20

New iPad available in Malaysia April 20

Further to our report previously, Apple has confirmed that the new iPad will be available in Malaysia starting this Friday, April 20. The new iPad(3) will be available via Apple Premium Resellers in Malaysia such as Machines, Epic Center, MacStudio Switch.

 

In addition to Malaysia, the new iPad also will be available beginning on Friday, April 20 in Brunei, Croatia, Cyprus, Dominican Republic, El Salvador, Guatemala, South Korea, Panama, St Maarten, Uruguay and Venezuela.

 

Beginning on Friday, April 27, the new iPad will be available in Colombia, Estonia, India, Israel, Latvia, Lithuania, Montenegro, South Africa and Thailand.

 

Read more HERE.

Source: MOLE

WHO chief accuses tobacco giants of dirty tricks

MANILA: The World Health Organisation’s chief on Monday urged governments to unite against big tobacco, as she accused the industry of dirty tricks, bullying and immorality in its quest to keep people smoking.

 

WHO director-general Margaret Chan accused cashed-up tobacco firms of using lawsuits to try and subvert national laws and international conventions aimed at curbing cigarette sales.

 

“It is horrific to think that an industry known for its dirty tricks and dirty laundry could be allowed to trump what is clearly in the public’s best interests,” Chan said at a WHO meeting here.

 

She cited legal actions by the tobacco industry against anti-smoking measures in Australia and Uruguay, saying these were scare tactics intended to frighten other countries from following suit.

 

“It is hard for any country to bear the financial burden of this kind of litigation, but most especially so for small countries,” she said.

 

“Big tobacco can afford to hire the best lawyers and PR firms that money can buy. Big money can speak louder than any moral, ethical or public health argument and can trample even the most damning scientific evidence”.

 

Chan called on the countries at the forum of Western Pacific nations to fight back.

 

“I urge all these countries to stand firm together, do not bow to pressure… we must never allow the tobacco industry to get the upper hand,” she said.

 

Chan pointed to successful efforts in the Philippines to increase taxes on tobacco products, saying that the WHO was gearing up to support other countries that took such measures.

 

But she did not specify how the WHO would help countries in their efforts to combat the tobacco industry.

 

The organisation has for many years called for bans on cigarette advertising and promotion, as well as restrictions on smoking in public places and higher taxes.

 

In Australia, Prime Minister Julia Gillard’s government is aiming to introduce world-first legislation that would force all cigarettes to be sold in plain packaging from January 1 next year.

 

However Philip Morris has launched legal action, claiming Australia’s plans violate international trade obligations and warning that it expects billions of dollars in compensation if plain packaging goes ahead.

 

Australian Department of Health Secretary Jane Halton told the WHO forum that her government was determined to push through with its plan, despite the subversive tactics of tobacco companies.

 

“We stand ready to repel the assault of big tobacco but we acknowledge it will be a big fight,” Halton told delegates.

 

WHO documents released at the forum said that 3,000 people die each day from tobacco use in the Western Pacific region. This covers an area with a population of 1.6 billion people, including China, Australia, Japan, South Korea, Mongolia, the Philippines, Vietnam, Cambodia, Malaysia, Singapore, Brunei and many South Pacific island nations. – AFP

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