HOME & LEISURE MARKET

ASIA: New South Wales reviews the legal status of online betting.

The New South Wales Gaming and Racing Minister has announced that he is reviewing the status of online betting in the state to recoup the tax revenue currently being lost to the Northern Territory where the industry is legal.

In a separate development, Tabcorp, the owners of the Star City casino in Sydney has signed a 12 year deal with the New South Wales government which guarantees that there will be no new casinos in the state for the duration of the agreement.

In return Tabcorp will pay the government an up-front fee of A$100m. The New South Wales Treasurer stated that changes to the tax structure, incorporated in the deal, will increase casino tax revenues by 32% by 2012-2013.

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TELECOMMUNICATIONS MARKET

EUROPE: Despite reporting an overall Q3 revenue increase, fixed line performs badly.

France Telecom announced Q3 results on 25 October 2007. Revenues rose 3.5% year on year on a comparable basis.

The Home Communication Services division which incorporates both fixed line telephony and ADSL reported a rise of only 0.2% in third quarter revenues.

These aggregated figures disguise a 16.4% fall in quarterly revenues from traditional phone services. France Telecom reported that this was due to a decrease in call volumes. Telephone line rental revenues decreased 3.2% despite an increase in line rental prices in July 2007.

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FOOD MARKET

EUROPE: Barry Callebaut increases chocolate production capacity in Russia.

Barry Callebaut, the Zurich based manufacturer of cocoa, chocolate and confectionery products, inaugurated its new chocolate factory in Chekhov, 60 kms south of Moscow, on 18 September 2007. The factory has a production capacity of 27,500 metric tonnes.

The company quadrupled its Russian sales between 2000 and 2005 and aims to further triple them within three years. It has identified Russia as its key target market in eastern Europe.

The factory will not be utilised to manufacture consumer products but will supply domestic and multi-national manufacturers and artisanal producers.

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