World Bank urges boost for young

Access to education is a priority need, especially for girls
Developing countries must invest in young people, promoting education and health and developing essential skills, a major World Bank report says.
The World Development Report says there are now a record 1.3 billion people aged 12-24 living around the world.

Those numbers could create problems in many nations if societies do not adapt, World Bank officials warn.

Although the number of young in primary education is rising, the report says some 130 million cannot read or write.

Young people are thought to make up about half the world's unemployed, the report says.

It also estimates that about 100 million new jobs need to be created in the Middle East and across North Africa before 2020 to cope with the numbers of young people seeking work.

'Window of opportunity'

The report analyses the development of young people in terms of five key "transitions".

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Managing those transitions - learning, working, growing up healthy, forming families and exercising citizenship - will require continued investment by governments and the creation of an environment for young people and their families to flourish, World Bank President Paul Wolfowitz writes in the report.

The bank's chief economist, Francois Bourguignon, attending the annual meeting of the International Monetary Fund (IMF) and the World Bank, in Singapore, said governments around the world had a "demographic window of opportunity".

"It is far easier to develop skills during youth," Mr Bourguignon said.

"If we fail to do that, it will be impossible to remedy the missed opportunity. It is fundamental to invest in youth."

According to figures in the report, the "demographic window" varies from country to country: in industrialised states such as Japan and Italy it closed about 10 years ago.

China has just a few years of its window still remaining, the bank estimates, but India, with a younger population, still has 30 years.

Second chances

The report identifies failings in vital areas such as education and the development of key skills.


Young people in India have growing opportunities for work
While most children in Indonesia attend school for six years, with 80% completing primary education, the numbers in secondary education are considerably smaller.

In many parts of Africa initial enrolment rates are lower, and access to education for girls is more of a problem.

Poor education and a lack of skills were cited by employers in countries as far apart as Algeria, Brazil, Bangladesh, Brazil, China, Estonia and Zambia, the report says.

Health issues are also a major concern, with HIV/Aids and the spread of other sexually-transmitted diseased cited as a key problem.

Governments should plan ahead in order to offer the young the best opportunities to develop their capabilities and family life, the report says.

Those whose take bad decisions or bad luck should be offered second chances, it adds, as a denial of opportunities can have long-term implications.


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Threat to Tesco's Thai expansion

Thailand is one of Tesco's key markets
The Thai government is threatening to freeze Tesco's rapid expansion in the country amid growing concerns at the power of foreign retailers.
Ministers are considering whether to freeze new store openings by Tesco, French firm Carrefour and other leading foreign and domestic retailers.

Small shopkeepers fearful of being forced out of business have demanded action ahead of November's election.

Tesco has more than 200 stores in Thailand and plans to open 200 more.

Rapid expansion

Thailand is Tesco's single largest overseas market in terms of store numbers and total floor space.

It has expanded rapidly since opening its first store there in 1998, in partnership with Thai firm CP Group.

We are waiting to see details of his proposals

Tesco spokesman

Its joint venture Tesco Lotus has become the country's largest food retailer, operating 54 supermarkets, 15 discount stores, 15 Lotus markets and 189 Express convenience stores.

Its stores - which have a combined selling space of nearly seven million square feet - are located across the country, ranging from Chiang Mai in the north to Hat Yai in the south.

Tesco and other international retailers have incurred the wrath of deputy commerce minister Preecha Laohapongchana, who is concerned about the threat to traditional fresh food markets.


Tesco has nearly 190 convenience stores in Thailand

Mr Laohapongchana met with Tesco and other firms this week to express his concerns and further talks are due in the next few days.

"We are waiting to see details of his proposals," a Tesco spokesman said.

Tesco said it would continue to argue the benefits it brings to Thai consumers "in terms of low prices, product range and quality and a safe, modern and hygienic supermarket environment".

With an election due in the next few months, it is unclear whether any restrictions on foreign retailers will come into force.

Impact on competition

Retail experts have warned that the rapid growth of large, multi-outlet retailers could threaten small, family-run stores.

"The inevitable trend is that traditional retailers such as small 'mom and pop' stores and wet markets are gradually making their irreversible exit from the Thai retail trade," Euromonitor International said in a report on Thailand's retail sector earlier this year.

In recent years, Tesco has strived to help Thai farmers and food companies benefit from its surging global growth.

It is working with a number of local firms to help them become regular suppliers of products to its stores around the world.



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G7 likely to discuss US slowdown


Fed boss Ben Bernanke will lead the US delegation
Finance ministers from the Group of Seven (G7) main industrialised nations are due to meet on Saturday to discuss the health of the global economy.
Taking place during the World Bank and International Monetary Fund meetings in Singapore, the state of the US economy is likely to be central to their talks.

In addition to discussing the apparent slowdown in the US, the ministers are also likely to look at China.

The G7 comprises the US, UK, Canada, France, Germany, Italy and Japan.

Less buoyant US

"The G7 leaders will debate various issues concerning the world economy," said Japanese Finance Minister Sadakazu Tanigaki, who will chair the meeting.

While the world economy is currently seen as performing better than expected, with the International Monetary Fund predicting growth of 5.1% this year, there is concern about the potential knock-on effect of slowdown in the US.

"One important question... is how the world will adapt to a less buoyant US economy," said IMF Managing Director Rodrigo de Rato.

The US will be represented at the G7 meeting by Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke.

America's economy expanded at an annual rate of just 2.9% in the second quarter of this year, down from 5.6% in the first



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Nintendo Wii to make debut in US

US and European gamers have yet to hear when they can buy the Wii
Nintendo's new Wii console will go on sale on 19 November in the US, two weeks ahead of its Japanese launch.
The console will have a price tag of about $250 (£132) and its games will sell for about $50, the firm said.

Most of the 4 million consoles Nintendo plans to ship worldwide will head for the US, Nintendo America added.

Earlier Nintendo said the Wii would hit Japanese shop shelves priced at 25,000 yen ($213; £113) on 2 December. It has yet to set a date for its UK launch.

The launch is set to trigger a three-way battle in the $30bn gaming market with Sony's Playstation 3 (PS3) and Microsoft's Xbox 360.

PS3 delay

Sony plans to offer a version of its PS3 console with a 20-gigabyte hard disk drive in Japan on 11 November and a week later in the US.

The console will be priced at 62,790 yen in Japan and $499 in the US.

But European gamers will have to wait until 2007 to get their hands on the PS3. Sony has delayed the launch in Europe until March following supply shortages of a key component for the machine.

While Microsoft has already launched its Xbox 360, it will be keeping up the pressure by launching a raft of new games.

Nintendo hopes the Wii will have across-the-board appeal, as it claims its new-style remote control - a wireless wand-like device that can be used like a baton - should offer an easy playing style.



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IMF lifts world growth estimates

Oil prices have been a cause of concern for the IMF
World economic growth will be higher than previously thought at 5.1% in 2006 and 4.9% in 2007, the International Monetary Fund (IMF) has said.
The predictions are both 0.25% higher than the IMF outlook given in April.

However, the IMF warned that global imbalances posed risks - in particular, the US budget deficit and China's vast trade surplus.

The report was released at the start of the IMF and World Bank's annual meetings in Singapore.

Threats

Surpluses in oil producing nations will stay high and the eurozone economy will continue to recover, the IMF predicted.



The exception is Germany, where the IMF believes growth will slow as a result of an increase in VAT to 19%.

There was a one-in-six chance that growth could fall to 3.25% in 2007, the IMF said.

Rising oil prices and an economic downturn in the US triggered by a fall-off in the housing market were among factors posing the biggest threats to continuing global growth, it said

US growth would slow from 3.4% to 2.9%, it predicted.

"The potential for a disorderly unwinding of the global imbalance remains a concern," the report said.

'Weigh-up risks'

Trading imbalances lie at the heart of many of the fears. China posted a record of $18.8bn (£10bn) trade surplus with the rest of the world in August.

By contrast the US, the world's largest economy, has seen its trade deficit reach over $64bn.

One explanation for this huge gap is the weakness of China's currency, which makes Chinese goods comparatively cheap, thereby boosting exports.

The IMF said central banks had to weigh up the risks of growth and inflation, saying some more interest rate tightening might be necessary.

Japan, which moved away from zero interest rates in June after six years, should continue to increase rates gradually, it added.

The IMF/World Bank gathering has already attracted controversy, with Singapore refusing to lift its ban on street demonstrations despite calls from non-governmental organisations (NGOs) and activists.

It also comes at a time when the IMF is under pressure to reform, giving greater decision-making to countries such as China and developing nations, including those in Africa.



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Apple targets TV and film market

The new iTV device is due out early next year
Computer firm Apple has announced plans it hopes will put it at the heart of consumers' home entertainment systems.
The firm has unveiled a device which will stream music and video wirelessly between televisons and computers.

The plug-in hardware is due to be released early next year and has been given the temporary name of iTV.

As well as announcing updates of its best-selling iPod music players, Apple also launched a new service allowing users to download films.

The move into movies was widely predicted by observers, and follows a similar launch by online retailer Amazon.

Pretty much whatever kind of setup you've got, iTV fits in

Steve Jobs
CEO, Apple


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Deals have been done with Pixar, Touchstone, Miramax and also Disney - where Apple's chief executive Steve Jobs is also a director.

Living rooms

The new box - about the size of three stacked CD cases and selling for $299 (£160) - is intended to plug the final connection between computer systems and home entertainment.

For some time Microsoft has sold "Media Center" PCs, which are intended to sit in living rooms.

But the machines have failed to reach critical mass.

Although several devices exist to pipe satellite and cable TV to computers, it has so far proved difficult to persuade users to make the connection in the opposite direction.

Apple's system is intended to make that easier, for both PC and Mac users.

Stored music can also be piped to stereo systems and controlled via the TV.

"Pretty much whatever kind of setup you've got, iTV fits in," Mr Jobs said.

"Now, you can get great content online. It's playing now on a computer near you. You can play it on an iPod near you and it is coming to a TV near you."

'Competition'

By announcing iTV well in advance of its release Apple is building momentum as it seeks deals with more movie studios

Ian Fogg
Analyst, Jupiter Media

The system could prove a challenge not only for other computer makers - but for broadband firms too, said senior analyst Ian Fogg from Jupiter Media.

"Broadband could become a trojan horse that enables companies like Apple to compete with cable tv companies and DSL providers that want to offer TV as well," he said.

"Companies like NTL have an existing TV business, which is facing new competition. BT has a plan for TV and Sky has moved into broadband too.


The new iPod shuffle is the world's smallest MP3 player

"If Apple can deliver movies and TV easily, then that could be a big problem for them.

"By announcing iTV well in advance of its release, something the firm rarely does, Apple is building momentum as it seeks deals with more movie studios."

Films for download

Apple's move into movie downloads - priced at a minimum of $12.99 for new releases and $9.99 for older films - comes several days after Amazon's launch of its own system, Unbox, aimed only at PCs.

In a presentation in San Francisco, Apple chief executive officer Steve Jobs said the films would be sold at "near-DVD quality".

It was unclear whether - as is still the case with TV downloads - films would be available only to US customers.

Hardware

The firm also introduced new, larger-capacity versions of its iPod music players.

The iPod nano, its middle-sized machine, is to get a new aluminium case, an an upper size of 8 gigabytes (GB) and longer battery life.

Many users have complained that the first-generation Nano scratched too easily.

For the main iPod player, Mr Jobs said it had improved the brightness of the screen and cut the price to $249 for 30GB and $349 for the new 80GB model.

It also added several new games, including Tetris, Pacman and Texas Hold 'em poker - for download at a cost of $4.99 each.


The unveilling of new products was highly anticipated

Both iPods have longer battery life and quicker searching of their song archives, Apple said.

And the Shuffle, Apple's smallest - and screenless - music player, has been shrunk to less than a third the size of a credit card at a price of $79 for 1GB.

iTunes update

At the same time, Apple announced updates to the company's online music and video store, iTunes.

The firm said users of the iTunes music store would automatically download graphics of album covers for music ripped from CDs, allowing them to search through animations of album art as well as by name lists.

The same system, Mr Jobs said, would allow easy searching of TV shows and movies downloaded.

All video would now be delivered at TV quality, Mr Jobs said, and would allow automatic recording of seasons of TV.

Mr Jobs said programmes and music bought online could easily be transferred between machines - a long-standing niggle for iTunes users.

Reputation

Apple's announcements come after a year in which the firm has swapped all its computers over to Intel microchips.

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The switchover means all Macs can now run Windows as well as the Mac's own OS X operating system, a factor which some analysts say has helped sales.

But the firm has run into occasional quality problems, while the firm's reputation has taken something of a hit thanks to a battery recall - also suffered by PC maker Dell - and an ongoing investigation into the stock options it awarded some executives.



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Europe widens Intel investigation

Intel dominates the market in chips used to run Windows PCs
The European Commission (EC) has widened its anti-competition probe into chipmaker Intel's business practices.
Brussels is now examining claims that the chip-maker tried to convince retail chain Media Markt not to sell PCs using Advanced Media Devices (AMD) chips.

German watchdogs had been investigating the case before handing it to Brussels.

The allegations will become part of a bigger Europe-wide inquiry into whether Intel abused its monopoly position to supply chips to run Microsoft software.

Regulators in Brussels have been examining the conduct of the world's largest chipmaker since 2001.

Pressure

The latest line of investigation follows allegations from rival AMD that Intel persuaded Media Markt - owned by German retail giant Metro - not to sell machines using its chips.

"The Commission is concerned that Intel has been putting pressure on Media Markt not to stock computers that include AMD chips as opposed to Intel chips," said EU spokesman Jonathan Todd.

Mr Todd declined to say what kind of pressure Intel had exerted on the retailer.

Media Merkt, which has more than 360 stores across Europe, declined to comment on the investigation.

However, California-based Intel said it planned to continue to co-operate with regulators, saying it believed its "businesses practices are both fair and lawful".

"The investigation is more than five years old, so one would expect that as part of it the Commission would look at all aspects of the case," spokesman Chuck Molloy added.

Intel and rival AMD are the only companies to make the microprocessors used to run Windows PCs -Intel dominates the sector holding approximately 80% of the market.



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