A growing number of companies are designing marketing campaigns that tap into Australia’s culturally diverse community, Minister Assisting on Citizenship Barbara Perry said while launching the 2008 National Multicultural Marketing Awards on Wednesday 4 June 2008, according  to a media release from the Minister’s office.

It’s these culturally-aware companies from around Australia that are being encouraged to enter the awards, she said.

With 223 different nationalities living in NSW, businesses can benefit from making their products and services accessible to the greatest audience possible, Ms Perry said.

“These annual awards recognise the creative and culturally specific marketing efforts being made by companies as they get in tune with a very diverse and rapidly changing cultural landscape,” Ms Perry said.

“Marketing a product or service to a specific cultural group should go far beyond simply translating a mainstream campaign into a different language. It should be culturally relevant and unique to that community.

“These awards acknowledge companies who are meeting the needs of our multicultural community by considering ethnicity, culture and language.”

Past winners of the National Multicultural Marketing awards include:

• eTranslate: an Australian company that has secured the contract for the Beijing Olympics global ticketing system. This system allows for different language and purchasing trends of diverse communities.

• AFL: for an innovative program designed to boost participation in the sport among migrant communities.

• Lismore City Library: for their innovative Living Library Project where instead of borrowing a book, people could ‘borrow’ a person, listening to their knowledge and expertise on a broad range of subjects.

Nominations for the 2008 National Multicultural Marketing Awards close on August 29. Online nomination forms are available on the Community Relations Commission website at www.crc.nsw.gov.au

CBA Support hailed: The Chair of the Community Relations Commission For a multicultural NSW, Stepan Kerkyasharian, today welcomed a new major sponsor for the National Multicultural Marketing Awards with the question:

“Which Bank in the Fifties and Sixties was synonymous with migration advisory services across the country, at the time of a heavy influx of new arrivals from Europe?”

Mr Kerkyasharian  was speaking at the launch of the 2008 nation-wide quest for excellence in multicultural marketing, by the Minister for Juvenile Justice and Western Sydney and Minister Assisting the Premier on Citizenship, Barbara Perry, at the Westin Hotel, Sydney.

“The Commonwealth Bank has decided to revive its close public connection with immigration by now helping to promote the economic benefits of the cultural diversity that resulted from it, through sponsorship of the National Multicultural Marketing Awards

“Of course, the Commonwealth has continued its support for migrants since those early days in many ways, including the introduction of Commonwealth Bank International Customer Services, whereby migrants can now set up their banking needs long before they arrive here.

“I am delighted to welcome the support from the Commonwealth which, as the nation’s biggest bank, is very well placed to reap the benefits of cultural diversity. Its sponsorship sends a very powerful message that multicultural marketing is something of great value”, Mr Kerkyasharian said.

The existing sponsors are the NSW Government, the Australian Newspaper, Qantas, Integral Energy, CMC Markets, the Westin Hotel and Yellow Tail Wines.

The National Multicultural Marketing Awards have been conducted by the CRC for nineteen years.

Last year’s winners included the NRMA, Heinz Foods, Travelex, Bollywood Dreams and E-translate.

Calling for marketers in the public, private and community sectors to enter the 2008 Awards, Mr Kerkyasharian said today: “Why not show us this year what you have done in the last twelve months to benefit your organisation and benefit our nation through clever multicultural marketing? ”

According to a CBA media release,  The Commonwealth Bank is proud to be a major sponsor of the 2008 National Multicultural Marketing Awards and congratulates all the nominees and winners on their success.

The Bank is committed to providing our nation’s multicultural communities with the best service possible by ensuring all their banking needs are met.

To provide these communities with the support they deserve, the Bank has teams of dedicated specialists established specifically our Asian communities and new arrivals.

Asian Banking – Personal and Corporate Banking

To provide additional support, the Commonwealth Bank recently established Asian Banking teams, which include specialists to assist the Chinese, Vietnamese and Indian communities.

The service these teams provide ensure our multicultural communities are comfortable in dealing with a Bank that understands their financial needs and cultural differences.

We are also making it easier for our customers by translating our key product brochures into six languages as well as ensuring we have multi-lingual staff within our branches.

CMC support

CMC Markets, the largest Contract for Difference (CFD) provider in Australia, has renewed its support for the annual National Multicultural Awards, which is being run under the auspices of the New South Wales (NSW) Community Relations Commission (CRC).

For its second year as a major sponsor, CMC Markets emphasizes the importance of the award in building and nurturing a harmonious and productive work environment populated by professionals from various countries.

“CMC Markets is a typical company that thrives on the skills of its multicultural employees,” said Luci Ozcan, Head of Asia Desk Australia for CMC Markets. “This is our second year of sponsorship for this award and we will continue to support it because we believe it encourages a positive and harmonious environment amongst various nationalities.”

“We have a strong representation of skills and talents from various countries which enable us to reach to an international audience.  At the same time the combination of these skills, talents and culture makes CMC Markets a vibrant and dynamic work environment,” Mrs Ozcan added.

Integral Energy Community Award: Meanwhile, through its sponsorship of the Community Award, Integral Energy is providing the opportunity for any community or cultural organisation in Australia to gain recognition for their outstanding multicultural marketing campaign.

Integral Energy’s Acting General Manager of Retail and Customer Services, Tamara Hitchcock, said the corporation is again proud to support the annual awards, which are an initiative of the NSW Community Relations Commission.

“The Integral Energy Community Award provides a great way for community-based organisations to get the recognition they deserve for their efforts to reach many different groups within our multicultural society,” Ms Hitchcock said.

“We’d like to encourage like-minded organisations which value cultural diversity and are actively engaged in multicultural marketing to enter the Community Award this year.

“Community and cultural organisations which have effectively marketed themselves either through a fundraising program, community welfare project, community festival or campaign that makes a positive difference to the community, should consider nominating for the award.

“Multicultural marketing is important because it provides equitable access to information and helps organisations better understand their customers, and vice-versa.

“In their submissions, organisations should demonstrate how their creative marketing program has been clearly targeted with specific objectives and measurable achievements, taking into account cultural sensitivity,” she said.

The Integral Energy Community Award is one of eight awards that will be presented to winners at a Gala Dinner in Sydney on Tuesday 25 November 2008.

Describing India as a fantastic market for major companies, the United States India Business Council Chairperson and Pepsico CEO Indra Nooyi said doing business in the country is relatively easy.

India-born Nooyi said that not only Pepsico likes to do business in India but also chief executives of other big corporations with whom she has spoken to, feel the same way.

“India has been a fantastic market. Doing business with India has been relatively easy,” Nooyi said at a press interaction during the 33rd Anniversary celebrations of the USIBC in Washington DC on Thursday.

Pointing out that major corporations have been growing at a rate of 20 to 30 per cent, she added that doing business is relative.

” It’s all relative, because it’s relative to other developing and emerging markets, who all have their issues,” Nooyi noted.

According to her, India is one of the most important markets for Pepsico and the firm likes to do business in the country.

” We actually like doing business in India and all the other CEOs I talk to, feel exactly the same way… India is one of our most important markets. We have discussions going on a bilateral investment trade agreement,” the Chairperson of USIBC said.

Queried on her biggest worry about India, Nooyi asserted that soaring oil prices is something the country has to cope with and the same is worrying everyone today.

“India, to fuel its growth needs oil and the government provides subsidies so that the economy can keep humming. But if the price of oil goes up too much, how much can the government put out in terms of subsidies,” she remarked.

However, Nooyi added that one should take into account the impact on the economy if the subsidies are taken away.

Further, she said that rising oil prices is not just an issue for India but across the world. “I think worldwide one of the biggest issues we are all confronting is where is the price of oil going to go and how do you cope with not just escalating but just exploding energy costs.”

On the Indo-US nuclear deal, Nooyi said it would be critical for India and refused to term it as a lost cause, saying that it is a not a failure yet.

“This is needed for India – for its own energy sufficiency, for its own security… This was something that was proposed in good faith by the US government…

I think it is critical for India and my hope – I am still holding out hope – is that between now and the end of the terms of the US presidency or the Indian government, whichever turns over first something will actually get negotiated. That’s my hope,” she said.

Responding to a query on whether she would serve in a future American administration, Nooyi shot back, “If the Chairmanship and CEO of PepsiCo has a cabinet position, I’d be delighted to carry that.” — PTI

NEW DELHI: Tata Motors on Wednesday warned of “challenging times ahead” and announced raising of Rs 7,200 crore through three simultaneous but unlinked rights issues to fund its ambitious takeover of Jaguar and Land Rover marques from Ford.

In a first of its kind in the country, the company will introduce shares with differential voting rights, called “A” equity share, in the proposed rights issue to raise Rs 2,000 crore. In this, every 10 “A” equity shares will carry only one voting right. Merchant banker sources said as “A” equity shares will not carry the similar voting rights, it will be traded at discount to the other common shares having full voting rights.

Another Rs 2,200 crore will be raised through normal rights issue of shares, having full voting rights. In the third issue, which will also hit the market simultaneously, the company proposed to Rs 3,000 crore through a rights issue of 5-year 0.5% convertible preference shares (CCPs), which can be optionally converted into “A” equity shares after three years but before five years from the date of allotment.

In a statement, the company said, the precise terms and condition like ratio on which these securities would be offered, the offer price and the conversion price would be decided only when the issues are ready.

However, Tata Motors also indicated that the issues would raise the equity capital of the company by 30-35% during the current financial year. This means, in the first two category of rights issue, the company is likely to issue 11.5 crore to 13.5 crore shares. Out of this, around 5 crore to 6 crore shares with full voting rights, will be issued at around Rs 400 per share to raise Rs 2,200 crore. At the same time, 6 crore to 7 crore “A” equity share will be issued at around Rs 300 per share to raise Rs 2,000 crore.

As the company has announced Rs 15 per share as dividend, the cost of funds raised through “A” share will be around 5% only. The merchant banker said it is an efficient way of raising funds. “On completion of the above rights issues, it is also proposed to raise about $500/600 million through issue of securities in the foreign markets on terms to be decided at that time,” it said.

The company’s $2.3 billion acquisition of the two British brands is expected to be completed by the end of June. “Though the initial acquisition cost will be financed through bridging loans provided by a syndicate of banks, these loans would be fully repaid through the above-mentioned capital raising schemes,” it said.