Word: businessmen
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...believes that the deals he has done have helped Chinese businessmen become savvier, smarter competitors. He recalls working with a Chinese airline in 1997 that had trouble even calculating its revenue and employed teams of workers to match used plane tickets and payment receipts by hand. Now, he says, Chinese executives can talk high finance with the world's best. "Chinese executives have become much more sophisticated," he says. "The level of understanding of accounting and financial concepts had been much lower." Still, Zhu realizes that Chinese firms face steep hurdles in international business, especially with foreign acquisitions. Chinese firms...
...believes that the deals he has done have helped Chinese businessmen become savvier, smarter competitors. He recalls working with a Chinese airline in 1997 that had trouble even calculating its revenue and employed teams of workers to match used plane tickets and payment receipts by hand. Now, he says, Chinese executives can talk high finance with the world's best. "Chinese executives have become much more sophisticated," he says. "The level of understanding of accounting and financial concepts had been much lower." Still, Zhu realizes that Chinese firms face steep hurdles in international business, especially with foreign acquisitions. Chinese firms...
...closest thing the kingdom has ever had to an election was when businessmen got together in Riyadh and Jidda and elected boards for local chambers of commerce. By those standards, the elections for 178 municipal councils being held in three stages that began on Feb. 10 are a big deal. The regime hopes the election of Shi'ites and tribal leaders in parts of the country where they dominate will help loosen the grip the conservative Wahhabis hold on cultural and religious affairs. But the danger in acceding to Western demands for free elections is that they could result...
...economy to foreign investment. Says Kumar Mangalam Birla, chairman of the Aditya Birla Group, a Bombay-based conglomerate, and one of the country's richest men: "65% of our population is in the villages; you have to have a budget that addresses them." Empowering the poor, many businessmen say, will eventually widen the foundations of the boom. "The emphasis on health, education and fighting poverty will mean increased economic opportunities and spending power. The tech sector in this country would be an indirect beneficiary," says Kiran Karnik, head of NASSCOM, India's information-technology trade association. Yet for many Indians...
...serious legal and financial issues that need to be resolved before Ukraine becomes an attractive place for foreign investors. Anyone who rushes into Ukraine without a lot of caution will end up getting burned." Some investors say that may be an unduly bleak view. Nine years ago, two Swedish businessmen, Johan Boden and Carl Sturen, invested about $5 million to start up a company in the farming town of Kakhovka aimed at making use of Ukraine's rich agriculture, including its tomatoes. Their firm, Chumak, named after Cossack salt merchants, is now a leading national brand, making a range...