Published: Wednesday 15 February 1995

Daimler-Benz, the epitome of swank cars, is now all set to enter the world of multimedia ventures, announced Edzard Reuter, the group's chairperson. Currently, Daimler-Benz is holding "exploratory" talks with the country's largest media conglomerates to work out a viable deal. The company is also preparing to launch a range of products in the telecommunications market.

Ariston Sdn, a private Malaysian company, will spruce up the Cambodian city of Sihanoukeville. It has bagged a US $1 billion tourism-and-infrastructure project for upgrading the city's power and water supplies, highways, and the airport. US $2 billion has been approved since the country adopted a new investment law in August 1993. The tourism project envisages an ecology theme park, a water theme park and a marina-and-yacht club. Chen Lip Keong, the owner of the company firmly asserts, "Ariston shall be a trailblazer for Malaysian corporations".

Spaniards can now look forward to an efficient and widespread phone network. The Airtel consortium, led by the US-based Airtouch Communications Inc, plans to invest US $2.27 billion over the next 10 years to develop a GSM (global system for mobile communications). Spain has awarded its second GSM license to Airtel; the partially state-owned Telefonica de Espana had bagged the first one.
"Spain has often fallen way behind in industrial development. Now, it has the opportunity to play a leading role in telecommunications," says Eduardo Serra, Airtel's interim chairman. But Airteldoes not plan to limit its activities to Spain alone. "Spain is a bridge between Europe and Latin America and North Africa," declares the ambitious Serra.

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