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World Business Quick Take

■ Incomes
Salaries to be disclosed
The German Cabinet on Wednesday approved a bill that would require the disclosure of executives' annual salaries in an effort to make corporate Germany more transparent. "The aim of the bill is to strengthen shareholders' controlling rights," Justice Minister Brigitte Zypries said. The bill requires listed companies to disclose the annual earnings of every board member, including the composition of their pay -- for example, fixed income, variable income and stock options. At present, listed companies only have to disclose the total pay for their management board. Fines of up to 50,000 euros (US$63,000) are foreseen for companies that fail to comply with the new rules, which will apply starting with the 2006 business year.

■ Currency
Fake money floods China
Chinese authorities confiscated fake bank notes with a face value of 1.16 billion yuan (US$140 million) last year, a large increase from the year before, the government said. The police seized 550 million yuan, a jump of 140 percent, the official Xinhua News Agency said, citing Ye Yingnan, who heads the anti-counterfeit money office of China's Cabinet. Another 610 million yuan was discovered by financial institutions, a 45 percent increase, he said. The report did not give any details on how or where the money was found. The counterfeit money is mostly manufactured in southern China's Guangdong Province and traded in central Henan Province, Ye said.

■ Automotives
Lexus to hit Japan's market
Toyota is bringing back home to Japan its Lexus luxury brand, which has marked big success in the US, with 150 dealers opening nationwide by the end of the year, the Japanese automaker said yesterday. Toyota Motor Corp is eager to strengthen its image by promoting the Lexus in Japan, where it's still largely unknown and most luxury car buyers still prefer European brands like BMW and Mercedes Benz. Takeshi Yoshida, overseeing Lexus development, said the brand will differentiate itself from European rivals that boast a historical legacy by appealing to younger buyers who aren't afraid to assert their Japanese sensibilities.

■ Credit
Credit card firms raise rates
Poorer people would find it harder to obtain credit cards under new controls planned in Malaysia aimed at stemming reckless spending and rising bankruptcies, news reports said yesterday. Other controls include raising the minimum payment level and setting up a central information system to share the credit ratings of prospective customers, Finance Ministry secretary Hilmi Yahya was quoted as saying by the Star and New Straits Times newspapers. The new measures are being drafted by the central bank, Bank Negara, following a Universiti Malaya study that showed about 11 percent of the 16,251 new bankrupts declared last year were credit card defaulters.

■ Hong Kong
Kodak, Disneyland in pact
The Eastman Kodak Company has signed a deal to be the exclusive supplier of products and photo processing services at the Hong Kong Disneyland park that opens on Sept. 12, the companies said yesterday. Kodak's services will include "roving photographers" who will walk around the park and snap pictures of families, the firm said. The images can be purchased before guests leave.

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