IrishAsia - Business

VC Players Look East, to China

Wed, 21 Feb 2007 07:54:54 -0700

U.S. tech startups are competing for venture capital funding with China, a land of low costs, huge markets, and ample opportunity—and significant risks

by Aaron Ricadela

Mainland China doesn't yet boast a Silicon Valley, but an influx of venture capital funding in promising new areas could put U.S. startups at a disadvantage as they compete for funds.

Venture capital players are increasingly betting on Chinese startups that supply the software, chips, and networks to feed the country's 400 million cell-phone users' voracious appetites for wireless data. That includes applications like instant-messaging, video-uploads, and mobile Web searches, along with consumer-level Web services such as social networking. The influx of funding saw a brisk increase last year—VCs bet $920.7 million on information technology companies last year, up 34% from 2005, according to a Feb. 13 study from Dow Jones (DJ) VentureOne and Ernst & Young. And that funding shift across the Pacific could pressure Silicon Valley startups to devise business models with extremely meager cost structures as a way to attract venture capital.

Asian trade needs new plan says IBEC

Mon, 19 Feb 2007 01:43:14 -0700

IRISH businesses want the Government to produce a strategic plan to tackle non-tariff barriers to trade with Asia.

This is one of the principal recommendation of an IBEC report on trade with Asia, which was launched yesterday.

Among the principal barriers to doing business with Asian countries cited in the report are bureaucracy, customs delays and a lack of intellectual property protection.

Speaking at the launch of the report, IBEC's director of trade affairs Pat Ivory said: "There is substantial potential to increase Ireland's level of trade with Asia.

"In addition to increasing sales of computer, pharmaceutical, food and drinks products, Ireland should also be targeting growth in new emerging sectors, such as medical devices and financial services.

Kerryman wins World Entrepreneur of the Year award

Sun, 11 Jun 2006 21:43:46 -0600

11/06/2006 - 11:54:38 AM

Kerryman Bill Lynch, who is chief executive of South Africa's Imperial Holdings, was given the World Entrepreneur of the Year 2006 award last night at a ceremony in Monte Carlo.

Originally from Ballybunion, Mr Lynch built Imperial into South Africa's largest transport and mobility conglomerate.

The company employs 36,000 people on three continents.

Sex cues ruin men's decisiveness

Thu, 20 Apr 2006 00:41:47 -0600

Sex cues ruin men's decisiveness

Catching sight of a pretty woman really is enough to throw a man's decision-making skills into disarray, a study suggests.

The more testosterone he has, the stronger the effect, according to work by Belgian researchers.

Men about to play a financial game were shown images of sexy women or lingerie.

The Proceedings of the Royal Society B study found they were more likely to accept unfair offers than men not been exposed to the alluring images.

The suggestion is that the sexual cues distract the men's thoughts, preventing them from focusing on their task - particularly among those with high natural testosterone levels.

The University of Leuven researchers gave 176 heterosexual male student volunteers aged 18 to 28 financial games to test their fair play.

They are looking for opportunities to pass on their genes

REO's China unit shares soar 43pc on very light trading

Fri, 14 Apr 2006 00:24:08 -0600

SHARES in China Real Estates Opportunities shot up 43pc, or by £4 (€5.79), yesterday to £13.25 (€19.18) on light trading volumes.

The company, which is backed by Treasury Holdings' Johnny Ronan and Richard Barrett, has surged since it floated just before Christmas at less than £2.

CREO which floated on AIM as a property investment shell company has yet to buy a single property.

But there is increasing market speculation it is getting closer to being able to announce its first transactions in China.

Yesterday, however, chairman Ray Horney said: "I don't know the reason for it (the huge rise in his company's share price).

No. of visitors to Japan at record high 6.73 mil in 2005

Wed, 18 Jan 2006 00:36:23 -0700

TOKYO — The number of foreign tourists to Japan in 2005 is estimated at a record high 6.73 million, up 590,000 from the previous year, transport minister Kazuo Kitagawa said Tuesday.

The 2005 World Exposition in Aichi Prefecture from March to September contributed greatly to the second straight annual rise in the number of foreign tourists, according to the Ministry of Land, Infrastructure and Transport. The number of travelers from Taiwan rose remarkably as Japan heavily campaigned there, Kitagawa told a news conference.

am/pm Japan launches convenience store for women

Mon, 19 Dec 2005 19:16:30 -0700

TOKYO — Convenience store chain operator am/pm Japan Co opened Monday its first store under a new line targeting female shoppers in an office district in Minato Ward.

The store called "Happily" sells about 2,500 types of cosmetics, 10 times as much variety as in its existing stores, and 240 types of dietary supplements. The magazines it sells are only those targeting women. It is staffed only by women except at nighttime and has a restroom for exclusive use by women.