■ Automobiles
BMW grows in Asia
Asia has emerged once again as a BMW Group target this year after an 18.5 percent increase in regional sales last year over the previous year. BMW sold 93,000 cars in the region out of a record 1.1 million globally last year, chairman of the board Helmut Panke said Friday. After tailgating Mercedes-Benz for more than 10 years, BMW for the first time overtook its archrival in Asia, he said. "In the long term, we continue to pursue the goal of raising Asian sales steadily to the high level of our traditional main sales pillars: Germany, West Europe and the United States," Panke said. World economic prospects have improved and a slight increase in the automobile market was expected, with Southeast Asia and China continuing to show "dynamic development," he added. Looking ahead, Panke said BMW was on track to double Asian sales by 2008.
■ Internet
Kazaa offices raided
The Sydney offices of the Australian firm that runs the global file-sharing Web site Kazaa have been raided by litigants in a civil copyright case brought by major record labels, Australia's ABC Radio reported yesterday. The swoop by recording industry officials came ahead of next week's court case in which the industry hopes to close down Kazaa, a site run by Sharman Networks. The industry alleges Kazaa promotes copyright piracy, which it says is costing it hundreds of millions of dollars in lost revenue. Michael Speck, the general manager of Music Industry Piracy Investigations, told the ABC that the raid "sends a very clear message to Internet pirates in Australia that the game is up." The raids follow the sentencing of three Sydney university students in November for running a Web site that allowed visitors to swap MP3 files.
■ Fashion
Chanel ties with Ducasse
Icons of the French way of life, couture house Chanel and star chef Alain Ducasse, on Friday said they were planning to open a Ducasse restaurant atop a Chanel building in Tokyo. "It will be in narrow collaboration, as a joint-venture, and thus be a big first in our industry as well as in the prestige restaurant business," Richard Collasse, chairman of Chanel Japan, told reporters by telephone from Tokyo. No figures were available on the deal, but further details are expected at a Tokyo media conference March 30. The restaurant would be located on the top floor of a building being built by Chanel on Tokyo's Ginza avenue.
■ Financial aid
Zambia wants off blacklist
Zambian Finance Minister Ngandu Magande presented the national budget for this year to parliament Friday, saying this year's prime objective was to have its suspension from the International Monetary Fund (IMF) lifted. "This is critical and cardinal for the country to reach," Magande said. The impoverished southern African country was suspended from the IMF poverty reduction and debt relief programs after it mismanaged its 2003 to 2004 budget by over-spending 610 billion kwacha (about US$130 million). "In this regard, we urgently need a sharp adjustment in 2004 to address a growing threat to fiscal sustainability, which will greatly erode and endanger our economic propects," Magande said.
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