Word: brazil
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...beer, Belgium has cemented its global brewing reputation with an effective export strategy: in 2007, 57% of the beer produced in the country was exported, up from 37% in 2000 and 7% in 1970. But global sales have taken a hit in the recession, particularly in emerging markets like Brazil and Russia, which had been the cornerstones of the company's business in recent years. (See pictures of the Oktoberfest beer festival...
...Fortis to buy the ailing Dutch giant for $103.7 billion. But while both RBS and Fortis are now on the casualty list themselves, Santander's $17 billion stake in the Brazilian wing of ABN Amro is worth about $49 billion after merging with Santander's existing business in Brazil. In 2007, the firm spent just under $10 billion for Italy's Banca Antonveneta, which it promptly sold off for a $3.74 billion profit. (See pictures of the global financial crisis...
...their more expensive second- and third-generation antiretroviral drugs. In such an arrangement, an umbrella organization like UNITAID manages a pool of patents that allows generic producers to make second- and third-generation drugs at an affordable price for developing countries. The UNITAID board, backed by Britain, France, Brazil, Norway and Chile, has just agreed to set up a patent pool for AIDS drugs, but the success of the venture depends on the cooperation of pharmaceutical companies. (Read "Is Obama Scaling Back Bush's AIDS Initiative...
...process hiring thousands of Brazilians, Chinese, Eastern Europeans and others. The need to train new recruits in multiple countries is a major test for Indian management, and has sparked a few cultural conflicts as well. Cesar Castelli, the São Paulo - based president of TCS in Brazil, says that the company has had difficulties squeezing more free-spirited Brazilians into an Indian corporate environment run on strict hierarchy and a devotion to internal rules. "Indians say 'Yes' and Latins say 'Why?,'" he quips...
DAVID GOLDMAN, after winning a five-year custody battle for his 9-year-old son Sean. The child had been living with his deceased mother's family in Brazil when a judge ordered on Dec. 22 that he be returned to his father...