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World Business Quick Take

■ INVESTMENT
Beijing issues restrictions

The National Development and Reform Commission has issued restrictions on foreign investment in real estate and other industries, part of a range of measures aimed at righting imbalances in the Chinese economy. A lengthy list of revised rules that take effect on Dec. 1 imposes bans on foreign investment in some businesses such as golf courses, gambling, genetically modified crops, teas, film production and weapons manufacturing, according to a document seen yesterday on the commission's Web site. Foreign direct investment in China rose almost 11 percent in January-September over the year before to US$47.2 billion, the report said.



■ FOOD & BEVERAGES
Kirin to buy National Foods

Japanese brewer Kirin said yesterday that it would acquire National Foods of Australia from Southeast Asia's top food and beverage group San Miguel in a US$2.6 billion deal. Kirin Holdings will acquire all the shares in National Foods Ltd from Manila-based San Miguel Corp by the end of this year to turn the leading Australian maker of dairy products and beverages into a subsidiary. The buyout is valued at A$2.8 billion (US$2.6 billion), Kirin said in a statement, adding that the Japanese group would finance the purchase through debt.



■ CAMERAS
Olympus plans new factory

Japan's Olympus Corp will build a factory in Vietnam next year to produce hot-selling digital cameras, a company spokesman said yesterday. "We will build a manufacturing base in Vietnam ... as we aim to secure enough [production] capacity for digital cameras," the official said, adding the company aims to begin construction by late next year. Investment will be some ?5 billion (US$44 million), said the official, who declined to be named. The spokesman denied a Nikkei Shimbum report yesterday that Olympus would consolidate its two Chinese factories and transfer some operations to Vietnam, saying it will build the Vietnamese plant in addition to the Chinese ones.



■ INTERNET
Downloads not blocked

Most companies do not stop staff from downloading music from the Internet, despite the risks posed to work computers, a survey has found. Two-thirds of IT managers polled said they do not block employees from taking music off the Web, even though they named it as the biggest threat. In a poll of more than 1,000 computer managers by ICM, music came top of the list of perceived threats. Other top 5 threats included staff visiting popular social networking Web sites such as Bebo and MySpace.


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