Topic “In the News News” — Exporter Magazine

China imported 8,017 tonnes of olive oil in 2007, up from 393 tonnes in 2001, according to the General Administration of Customs. Analysts expect imports to soon touch 10,000 tonnes a year. In August, Zhejiang Geely Holding Group Co completed its takeover of Swedish carmaker Volvo Car Corporation. And late last month Shanghai-based Bright Food (Group) Co Ltd emerged as the frontrunner to acquire United Biscuits, the UK biscuit maker currently owned by private equity firms. China would have invested a total of 140.5 billion yuan (NZD$28.15 billion) in its ambitious South-to-North Water Diversion (SNWD) project from 2006 to 2010, according to a China Daily report quoting the country’s water diversion authority. Six global freight forwarders have pleaded guilty and have accepted fines of USD$50.27 million (NZD$70.17 million) from the US Department of Justice (DOJ) for conspiring to fix air cargo fees between 2002 and 2007, according to the Shipping Gazette. UK sales of gluten and wheat free products soared 18% to GBP108.3 million (NZD$231 million) in the year to July 11, 2010, according to FoodManufacturer.co.uk, citing data from Kantar Worldpanel. Research In Motion (RIM) unveiled a tablet computer aimed at its core business customers, as it tries to gain a foothold in a fast-growing market dominated by Apple’s iPad, according to a Reuters report carried by GulfNews.com. A group of companies led by Philips of the Netherlands and Ericsson of Sweden are taking KLM, Martinair and Air France to court seeking damages of more than €400m ($545m) due to allege price-fixing by the airlines, according to a Financial Times report. The UK market for functional foods on a bone health platform grew 6.8% in the year to March 2010, but at just GBP38 million, it still represents a niche part of the GBP556 million (NZD$82 million) functional foods market, according to DairyReporter.com.