The Malaysian Insider :: Features
The Malaysian Insider :: Features |
| Chelsea Clinton steps up to fight diarrhoea deaths in Nigeria Posted: 21 Oct 2012 08:35 AM PDT  Chelsea Clinton speaks at the closing forum of the Clinton Global Initiative 2012 in New York, September 25, 2012. The CGI was created by former US President Bill Clinton in 2005 to gather global leaders to discuss solutions to the world's problems. — Reuters file pic The 32-year-old daughter of President Bill Clinton and Secretary of State Hillary Rodham Clinton joined Nigerian officials, the prime minister of Norway and other leaders this week in promoting expanded access to zinc and oral rehydration solutions or ORS, a treatment that could prevent more than 90 per cent of diarrhoea-related deaths in the country. "It is unconscionable that in the 21st century, children still die of diarrhoea," Clinton told Reuters in an exclusive interview by phone from Abuja, Nigeria. The ORS and zinc work in Nigeria is in coordination with the Clinton Health Access Initiative or CHAI, on whose board Clinton serves. She has stepped up her public role in the family's global philanthropic efforts and in July took a six-day tour of Africa with her father, who founded the William J. Clinton Foundation in 2001.  Chelsea Clinton with dad Bill listening to a speaker on the final day of the CGI. — Reuters file pic Fewer than 2 per cent of children in Nigeria have access to the treatment recommended by the World Health Organisation. Increasing the number of children with access to the therapy to 80 per cent by 2015 would help prevent an estimated 220,000 deaths in Nigeria. "I would like to see us make real, measurable progress here in Nigeria and in the other countries where we are working on ORS zinc," said Clinton, including Uganda and parts of India, as part of the Clinton Health Access Initiative's push to improve access to essential medicines for children. "For me, it's not complicated. We know what works and we should be doing more of it. And when we don't know what works, we should be innovating and spending time and energy on designing these solutions to solve problems that haven't been solved yet," said Clinton. "That is what I love about the work CHAI does and the work of the foundation more broadly." Bringing companies on board As part of its push, CHAI was meeting with companies such as Unilever, which has big distribution networks in Nigeria, to get the message out on ORS zinc, Clinton said. The hope is to increase demand for the treatment and drive down costs, which should put the price of a single dose of the treatment at about US$0.50. CHAI began working in Nigeria in 2007 with efforts in the Niger Delta to bolster the region's HIV/AIDS infrastructure, which has helped increase paediatric HIV testing by 350 per cent, and resulted in a 70 per cent increase in paediatric access to powerful antiretroviral drugs. Clinton conceded that diarrhoea treatment was something many people would rather not talk about. "It makes them feel squeamish," she said, adding: "It's important that we shine a light on these problems and then get to the business of solving them." Clinton said it was hard to know just how much of her interest in charitable work had been influenced by the careers of her powerful parents, but in a way, it did not much matter. "I couldn't imagine not doing work like this," she said. "I define success in my life by how much of a difference have I made in a given day, whether that is being a good wife to my husband, a good daughter to my parents, a good friend to my friends, or helping push forward our work at CHAI or the Alliance for a Healthier Generation or any other facet of the foundation. "I couldn't imagine it any other way, and I don't want to." — Reuters |
| Asian thirst drives demand for €2.5k cognac Posted: 21 Oct 2012 05:48 AM PDT  An employee holds a glass of cognac at the Remy Martin distillery in Cognac, Southwestern France. — Reuters pic It is the finishing touch for a deluxe elixir made from a blend of 1,200 kinds of "eau de vie" brandy aged for decades in century-old oak casks cloaked in a black fungus that feeds on the "angels' share" of alcohol evaporating through the wood. As overall cognac sales have recovered from the 2008/09 downturn, discerning Chinese looking for an aspirational tipple are causing a surge in shipments of Louis XIII and other deluxe spirits. The trend is good news for Remy Martin, which is much more focused than its rivals on high-end brands, and suggests that a slowdown in China's overall economic growth rate may not dampen the country's appetite for some luxury goods, even if some sectors have sounded warnings. "The very high end is doing very well and is growing in Asia and all our markets. There is a very strong appetite in Asia for recognised quality," Remy Martin Chief Executive Patrick Piana told Reuters in an interview. Robust demand for pricey brandies is encouraging parent group Remy Cointreau despite a sharp slowdown in sales growth in the last three months as Asian wholesalers use up stocks built up earlier in the year. High-end brands were the fastest-growing category of cognac sold in 2011 in volume terms, growing 18.2 per cent for XO, or "Extra Old", blends where the youngest eau de vie in the mix has been aged for at least six years. Rising deluxe sales led to a 16.9 per cent jump in the retail value of global cognac shipments in 2011 to US$8.5 billion (RM26 billion), as volumes rose a lesser 6.5 per cent to 12.2 million 9-bottle cases, according to International Wine and Spirits Research. Analysts are asking whether Asian demand for luxury goods overall will stay strong. But high-end spirits are a bright spot, with wealthy Chinese more likely to postpone big ticket items like a new Jaguar than cut back on the fancy drinks. "Remy Cointreau has strong organic growth prospects stemming from demand for deluxe cognac in China," said Trevor Stirling, an analyst with research firm Bernstein.  A distiller is seen at the Remy Martin distillery in Cognac, southwestern France. — Reuters pic Piana predicted that robust Asian demand would tempt cognac houses to step up new product offerings in the high-end market, which offers tempting profit margins. "Competition will intensify. I want that to happen because a competitive market is a dynamic market," he said. The United States is the biggest cognac market by volume but is led by the least expensive VS, or "Very Special", grade where brandy is aged for as little as two years. China's preference for older qualities from VSOP upwards has made it the top market for high-end cognacs, worth around US$3 billion in 2011. Cognac shipments to China rose by 21.7 per cent in volume last year but their retail value jumped 34 per cent. Voracious Fungus For China's up-and-coming millionaires, much of the appeal of a rare cognac like Louis XIII, first created in 1874, lies in its complex, almost ritualistic production process. Remy Martin claims to use the highest-quality grapes grown in the Grande Champagne cognac territory in western France and the youngest eau de vie in the mix is at least 40 years old. The spirit is aged in specially crafted century-old casks known as "tierçons" made from oak from the forests of the surrounding Limousin region. The voracious black fungus that creeps over the barrels, walls and many nearby buildings feeding off the wafting cognac vapour only adds to the mystique.  A bottle of cognac sits on an oak cask in a cellar where cognac is aged at the Remy Martin distillery in Cognac, southwestern France. — Reuters pic Those wanting to purchase limited-edition aged cognacs, like the three-litre Jeroboam variety, form waiting lists just like fashionistas do for some designer handbags. Asia accounts for 60 per cent of sales at Remy Martin and its top market is China, where it commands the No. 3 spot in volume terms behind Hennessy, owned by LVMH and Diageo , and Martell, owned by Pernod Ricard. Chinese businessmen out on the town often mix VSOP with soda, fruit juice or green tea. As they climb the social ladder, they move to XO categories which tend to be drunk during formal dinners and given as gifts for the Chinese New Year. While the Louis XIII brand is a leader for now in the luxury sector, and has a tight network of dedicated retailers and promotion partners, it faces competition from Richard Hennessy and L'Or de Jean Martell, which are priced around the same level. To try and stay on top of the growing thirst for prestige products Remy has launched a China-exclusive XO product called Centaure aimed at young, cosmopolitan consumers. It has also introduced Club de Remy Martin, priced 30 percent above its VSOP, and 1898 Creation Fine Champagne, priced at three times more than its XO, already around €120-€160. — Reuters |
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