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...information and communications technology. The Indian Ocean island boasts one of Africa's most successful economies. Under French and then British control, nearly all available land was given over to growing sugarcane. But after independence in 1968, the government pinned development on diversification, luring Asian textile manufacturers with cheap labor and tax-free exporting zones. In the 1980s the country also invested in tourism and offshore banking. Economic growth has exceeded 5% a year over the past two decades, and per capita income is now more than $3,500, one of the highest in Africa. But rapid population growth...

Author: /time Magazine | Title: Getting Wired: Cyber Paradise | 10/28/2002 | See Source »

...among them Rho Ventures, based in New York City, and IBM. The idea is to sell the kiosk for about $60,000 to retailers, resorts and cruise ships and then supply the machine's magic film-development dust as a consumable (on the model of companies that sell razors cheap and profit on the blades). All revenue from photo development goes into the retailer's pocket. Joel Paymer, co-owner of Camera Land, where a kiosk is being tested in New York City, gushes that "it's going to change the way consumers develop film forever." He says...

Author: /time Magazine | Title: Faster Photos | 10/28/2002 | See Source »

Sales of what the industry defines as premium wines are increasing even as cheap-wine sales are declining. According to the wine-industry consultancy Motto Kryla Fisher, among wines costing less than $8 a bottle retail, 116 million cases were sold last year for a total of $2.55 billion--a volume decline of 3% from the year before. But among wines that cost more than $15 a bottle, 15 million cases were sold for $2.17 billion--an increase of 9% over 2000. The higher end is where the profits and the growth are to be found. "With high-quality wines...

Author: /time Magazine | Title: Who Really Owns That Winery? | 10/28/2002 | See Source »

Italy, once looked down upon for turning out cheap table wine that didn't travel well, has been quicker to catch on to the changes in the wine industry by improving quality and learning how to sell overseas. Says Francesco Trimani, owner of Trimani, Rome's oldest wine store: "Before, big wine producers bought grapes from small vintners. Now they are acquiring vineyards so they can control the quality of production from the start...

Author: /time Magazine | Title: Who Really Owns That Winery? | 10/28/2002 | See Source »

...economy. Takenaka's outsider ways soon alienated the establishment. Critics charged that he was too secretive and too radical, that he sought American-style economic solutions to uniquely Japanese problems?or worse, that he was part of a devious American plot to buy Japanese banking assets on the cheap...

Author: /time Magazine | Title: Last Stand | 10/28/2002 | See Source »

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