英国《金融时报》弗朗西斯科?格雷拉(Francesco Guerrera)香港、艾米?卡兹明(Amy Kazmin)曼谷、约翰?伯顿(John Burton)新加坡报道
美国柯达将招聘更多中国高管
Kodak to focus on recruiting top Asians
伊士曼柯达(Eastman Kodak)首席执行官安东尼奥·佩雷斯(Antonio Perez)呼吁，企业在亚洲经商必须采用不那么以“西方为中心”的方式。此前这家美国图像公司低估了中国消费者接受数字技术的速度，误读了当地市场。
Eastman Kodak’s chief executive has called for a less “western-centric” approach to doing business in Asia after the US imaging company misread local markets by underestimating how quickly Chinese consumers would embrace digital technology.
安东尼奥·佩雷斯去年上任，负责带领柯达从胶卷向数码相机业务的艰难转型。他表示，公司目前在中国招聘更多“强有力的当地人”担任高管。此前公司解雇了先前主管中国业务的一名美国人。【您现在阅读的文章来自“中国学习考试网”，请记住我们的永久域名：www.stu88.com 】
Antonio Perez, who took over last year to spearhead Kodak’s difficult transition from film to digital cameras, said it was now hiring more “powerful locals” to take over as senior executives in China after sacking an American previously in charge of its operations in the region.
像许多欧美跨国企业一样，这家总部位于纽约州罗彻斯特的公司表示，它的最大消费市场离总部的距离越来越远，而上述举动是适应这样一个世界的努力的一部分。
Like many US and European multinationals, the Rochester, New York-based company says the move was part of adjusting to a world where its biggest consumer markets are increasingly a long way from home.
“对未来而言，亚洲的重要性令人难以置信。像许多西方公司一样，我们以前是非常以西方为中心的。我们不能再这样了，”佩雷斯先生对《金融时报》说。这是他自6月份接替邓凯达(Daniel Carp)后首次接受采访。
“Asia is incredibly important for the future. Like many western companies, we were very western-centric. We cannot be like that,” Mr Perez told the Financial Times in one of his first interviews since replacing Daniel Carp in June.
“我们的大多数客户将不再位于西方，而是在亚洲，”他补充说。“你将无法从纽约州罗彻斯特或伦敦为他们服务。如果你想在电子消费品领域成为全球领导者，你得在亚洲开展大量业务。”
“The majority of our customers will not be in the west anymore. The majority are in Asia,” he added. “You’re not going to be able to service them from Rochester [New York] or London, for that matter. You have to have a very significant presence in Asia if you want to be worldwide leader in consumer electronics.”
起初，柯达曾预计传统胶卷在中国和印度等市场的销售将继续增长。这家美国公司原本希望，这种继续增长将在欧美顾客更快转向数码相机时，减轻公司失去这块高利润业务的冲击。
Initially, Kodak had forecast continued growth in sales of traditional film canisters in markets like China and India. The US company had hoped that this would cushion the impact of losing this highly profitable business when customers switched more rapidly to digital cameras in Europe and the US.
但中国消费者很快就适应了数码摄影。2005年6月，柯达加速实施它淡出传统胶卷业务的计划——部分是由于它此前低估了胶卷业务在中国的迅速衰落。
But consumers in China quickly adapted to digital photography and in June 2005, Kodak accelerated plans to phase out its traditional film business – in part due to having underestimated the rapid decline of film in China.
柯达在10月份任命了亚洲业务的新领导：叶莺，一位在台湾接受教育的外事官员，她于1997年加入柯达。此外还有韦力杰(Warren Wisnewski)，他在柯达干了29年，是一位老资格员工，他因雇佣“高素质的当地人才”，发展了柯达的在华制造业务而获殊荣。
In October, Kodak named new leaders for its Asia operations: Ying Yeh, a foreign service officer educated in Taiwan who joined Kodak in 1997, and Warren Wisnewski, a 29-year Kodak veteran who is credited with growing Kodak’s manufacturing operations in China by hiring “high-quality local talent”
2006年1月10日 星期二
股市起落2006全球股市初现牛气
Bulls get new year's trade off to flying start
2006年全球股市以涨势开局，不过由于市场人士预计，美国的利率水平可能接近当前加息周期的顶点，美元汇率及美国国债收益率双双走软。
World equity markets began 2006 in bullish mood, while the dollar and Treasury bond yields softened amid expectations that US interest rates could be near to the top of the current cycle.
上周五发布的12月份就业报告喜忧参半，为上述观点提供了佐证。非农就业人口仅增长10.8万人，远远低于增长20万人的预期。
That view was bolstered yesterday by the release of a mixed December employment report. Non-farm payrolls rose by just 108,000, well below expectations of a 200,000 increase.
不过，11月份新增就业人数从先前报告的21.5万人，向上修正至30.5万人。分析师同时指出，与就业报告同时进行的家庭就业调查结果更为乐观，使失业率从5%降至4.9%。
However, November's rise was revised up to 305,000 from the originally reported 215,000. Analysts also pointed out that the household employment survey, conducted in parallel with the payrolls report, was more positive, leading to a decline in the unemployment rate from 5 per cent to 4.9 per cent.
ING Financial Markets 经济学家罗布?卡内尔(Rob Carnell )表示：“尽管不能把这份就业报告称之为强劲，但该数据绝对不像总体数据所显示得那么疲弱。在我们看来，与当前的市场预期相比，美联储(Fed)在下一轮加息后进一步收紧货币政策的可能性仍较大。”
"While there is no way this can be described as a strong payrolls report, it is by no means as weak as the headline figure indicates, and in our opinion, there remains a greater chance of further Federal Reserve tightening beyond the next rate hike than markets currently expect," said Rob Carnell, economist at ING Financial Markets.
上周早些时候，美联储上一次货币政策会议纪要促使一些评论人士指出，市场预期中本月末幅度为25个基点的加息，可能是当前阶段的最后一次。
Earlier in the week, the minutes of the Fed's last policy meeting had prompted some commentators to suggest that the expected 25 basis point rate rise at the end of this month could be the last for the time being.
华尔街对就业数据作出了积极的反应。截至当日午盘，道琼斯工业指数较上个交易日收盘上涨0.4%，较此前一周上涨2%。
Wall Street responded to the payrolls figures with gusto. By midday, the Dow Jones Industrial Average was up 0.4 per cent on the day and was showing a rise of 2 per cent on the week.
过去4个交易日内，标准普尔500指数上涨2.7%，在4年半高点附近徘徊，而纳斯达克综合指数的涨幅为3.2%。
The S&P 500 was up2.7 per cent over the past four days and hovering around 4?-year highs, while the Nasdaq Composite was 3.2 per cent stronger.
欧洲股市上周的走势同样强劲。富时Eurofirst 300指数上涨2.4%，创4年半新高。在东京股市，日经225指数在去年劲升40%的基础上，再度上涨2%，升至2000年9月以来最高水平。
European markets also had a strong week, with the FTSE Eurofirst 300 index rising 2.4 per cent to a new 4?-year high. In Tokyo, the Nikkei 225 Average built on last year's 40 per cent surge, rising another 2 per cent to its highest level since September 2000.
越来越多的市场人士认为，美联储可能准备暂停加息，这一看法促使美元上周盘跌。欧元兑美元汇率升至1.218美元的三个月高点，高于2005年年底时1.182美元的水平。美元兑日元汇率则从118.1日元跌至114.5日元。
The growing conviction in the markets that the Fed might be preparing for a pause sent the dollar into a tailspin this week. The euro rose as high as $1.218, a three-month peak, compared with $1.182 at the end of 2005. Against the yen, the dollar tumbled to Y114.5 from Y118.1.
美元兑其它亚洲货币汇率大幅下挫，其中尤以兑韩元和新台币汇率为甚。
The US currency suffered hefty losses against other Asian currencies, notably the South Korean won and the Taiwan dollar.
就业数据公布后，美国国债小幅走软，但较上周仍略有上涨。上周二，10年期国债收益率水平短暂跌至2年期国债之下，这是自2000年以来的首次。市场对于美国货币政策的推测与对欧元区利率的预期形成鲜明对比，这一点在欧元区发布强劲制造业数据之后尤为明显。
Treasury bonds were a shade easier after the jobs numbers, but were higher over the week. On Tuesday, the yield on 10-year paper briefly fell below that of two-year notes for the first time since 2000. The speculation about US monetary policy contrasted with market expectations about interest rates in the eurozone, particularly after the release of robust manufacturing data for the region.
投资银行高盛(Goldman Sachs)表示：“近几周来强劲的经济数据表明，在第一季度晚些时候，欧洲央行(ECB)可能会实施第二次幅度为25个基点的加息举措，有可能是在其3月2日的（管理）委员会会议上。”
"Strong activity data in recent weeks suggest that the European Central Bank will be in a position to deliver a second 25bp hike later in the first quarter, probably at the March 2 [governing] council meeting," said Goldman Sachs.
该银行补充称：“我们预计，在第一季度加息之后，欧洲央行在2006年剩余时间内不会再加息。不过，内部需求不断走强，这将加大欧洲央行进一步加息的风险。”
"After the first-quarter hike, we expect the ECB to remain on hold for the remainder of 2006. However, the strengthening of domestic demand raises the risk that the ECB will hike by more," the investment bank added.
在大宗商品市场有许多消息，其中包括俄罗斯与乌克兰之间的天然气纠纷，以及对于以色列总理阿里埃勒?沙龙(Ariel Sharon)之后中东局势的忧虑，沙龙因中风入院。
There was plenty of news for the commodity markets to deal with, including the gas dispute between Russia and Ukraine and concerns about the Middle East after Ariel Sharon, Israel's prime minister, suffered a stroke.
由于市场认为俄乌天然气争端现已获解决，英国天然气交易价格出现波动。由于数据显示美国国内天然气供应出乎意料地上升，上周四美国天然气价格大幅下挫。
UK natural gas prices saw volatile trade as the market took the view that the row between Russia and Ukraine over gas supplies had been resolved for now. Gas prices in the US fell steeply on Thursday after data showed a surprise increase in domestic supplies.
与此同时，尽管天气预报称美国天气将会转暖，但纽约商品交易所(Nymex)基准原油期货价格昨日被一度短暂突破64美元，为去年10月份以来的最高水平。
Meanwhile, benchmark Nymex crude oil futures briefly pushed above $64 yesterday, the highest level since October, in spite of forecasts for milder weather in the US.
黄金价格因美元汇率走软而上涨，距去年12月份创下540.90美元的24年半高点仅咫尺之遥。
Gold got a boost from the weaker tone of the dollar, and the precious metal rose to within striking distance of the 24?-year high of $540.90 recorded in December.
全球最大的铜金属生产商智利国有铜公司(Codelco)发生罢工事件，此后铜价再创历史新高。
Copper hit a record high after a strike broke out at Codelco, the world's biggest producer of the metal.
2006年1月11日 星期三
泰国他信家族有意出售17亿美元股权
Thai PM’s family eyes $1.7bn?Shin s take sale
泰国总理他信?西那瓦(Thaksin Shinawatra)家族正试图出售其商业帝国的至少部分业务，交易可能将带来至多17亿美元的所得，同时有助于消除对其违背公众利益的批评声音。他信家族业务涵盖从电信到航空多个领域。
The family of Thaksin Shinawatra, the Thai prime minister, is trying to sell at least part of its telecoms-to-airlines business empire in a deal that could raise up to $1.7bn and help dispel criticism of a conflict of interest.
知情人士称，近几个月以来，（该家族）已接洽包括日本NTT DoCoMo、中国移动(China Mobile)和新加坡电信(Singapore Telecom)在内的一些电信公司，了解其是否有意全部或部分收购该家族在Shin Corp持有的49.6%股份，后者是该家族控制的控股公司。
People close to the situation said that, over the past few months, telecoms companies including Japan’s NTT DoCoMo, China Mobile and Singapore Telecom had been approached with offers to buy some or all of the family’s 49.6 per cent holding in Shin Corp, the holding company it controls.
据信，该家族已将目标锁定亚洲一些移动电话运营商，因为其最有价值的资产是Shin Corp在泰国最大手机公司Advanced Info Service (AIS) 所持的43%股份。
The family is believed to have targeted Asian mobile phone operators because its most valuable asset is Shin Corp’s 43 per cent holding in Advanced Info Service (AIS), Thailand’s largest cellular business.
不过，据悉NTT DoCoMo和中国移动均因价格原因拒绝了此项交易，新加坡电信因而最有可能成为买家。
However, it is understood that both NTT DoCoMo and China Mobile turned down the deal because of price concern, leaving SingTel the most likely suitor.
新加坡电信在AIS拥有21.4%的股份，并且一直在寻求海外扩张的机会。该公司由新加坡政府投资机构淡马锡(Temasek)控制。
SingTel, which is controlled by Temasek, the state investment agency, owns a 21.4 per cent stake in AIS and has been looking to expand outside Singapore.
分析人士怀疑是否会有电信公司愿意购入Shin Corp的股份。该公司同时也在亚洲卫星运营商Shin Satellite、电视频道iTV、廉价航空公司Thai Air Asia以及金融公司Capital OK中拥有股份。
Analysts questioned whether a telecoms company would want to buy into Shin Corp, which also has stakes in Shin Satellite, an Asian satellite operator; iTV, a television channel; Thai Air Asia, a low-cost airline; and Capital OK, a finance company.
然而，知情人士表示，购买该家族所持股份——以昨日收盘价格计算约为17亿美元——能够使一家电信公司以颇具吸引力的价格获得AIS的控制权。
However, people close to the situation said a deal to buy the family stake, which was valued at about $1.7bn at yesterday’s closing price, could enable a telecoms company to gain control of AIS at an attractive valuation.
尽管他信将其商业帝国的股权转移给了妻子、儿女以及其他近亲，以便从法律上将自己与公司区别开来，在他担任总理期间，还是总有人指称他利用政治权力，来促进家族的商业利益。
While Mr Thaksin transferred his shareholdings in his empire to his wife, children, and other close relatives – legally separating himself from the corporation – his tenure as prime minister has been dogged by allegations that he has used his political power to further the family’s business interests.
许多泰国分析人士认为，他信家族可能是想为总理减轻“一点政治负担”，通过售股来提高他的声望。
Many Thai analysts believe the family may want to rid the prime minister of a “bit of a political liability” and boost his popularity through a sale.
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