Mr Kallasvuo, a member of the tight-knit group that has run Nokia since the early 1990s, will inherit a company in excellent shape.

ECONOMIST: Face value

He is a member of the MIT Corporation and the International Advisory Group of American financial services company Blackstone.

FORBES: Rafael Del Pino y Calvo-Sotelo

Another member of the group, who had worked in some large financial corporations, said he has never seen a company with worse middle management than Microsoft.

FORBES: Paul Allen Critiques the Microsoft Culture

Labour costs are up 30-35% since last year, according to Jeffrey Lam, a member of Hong Kong's legislature who runs a toymaking company and is an adviser to the territory's local trade group.

ECONOMIST: Hard times loom for the world's biggest toymaking centre