Archive for November, 2012

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23/11/2012

* Atlas Copco nears buy of Shandong Rock

So, we see that acquisitions are not all one way. Swedish firm buys major stake in Chinese partner.

Reuters; “Swedish compressor and mining gear maker Atlas Copco is close to a deal to buy a 75 percent stake in Shandong Rock Drilling Tools Co Ltd from China’s Shandong Sanshan Group, sources in China familiar with the matter told Reuters.

The sources did not disclose any purchase price.

The deal for the stake in the rock drilling gear maker, based in the eastern province of Shandong and which has about 400 staff, included a stake in a steel mill, a source said.

“An agreement is expected to be finalized soon,” a Sanshan official said on Thursday, declining to be identified because they are not authorized to comment.

An Atlas Copco spokesman declined to comment.

Shandong Sanshan Group, of which Shandong Rock Drilling Tools is a major part, is a privately controlled Chinese firm with annual revenue of 400-500 million yuan ($65-$80 million), an official at the group said.”

via Exclusive: Atlas Copco nears buy of Shandong Rock – sources | Reuters.

Posted in China alert, Economics, mergers and acquisitions | Leave a Comment »

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22/11/2012

* China might be moving to ASEAN agreement on S China Seas= dispute

If China does agree to ASEAN multi-lateral agreement on South China Sea dispute, it will probably be the first time. It much prefers to do bilateral deals; conforming tot the old principle of ‘divide and conquer’.

See also:

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22/11/2012

* Lone stand against wrecking ball

Even China cannot stop the determined individual protester. But this situation highlights the many protests against inadequate compensation for having to move home. The interesting thing about this post is that the source is China Daily, a state-sponsored news website.

China Daily: “An isolated five-floor building is standing in the middle of a new road that will soon be open in Wenling, Zhejiang province, the People’s Daily reported.

Lone stand against wrecking ball

A family from Xiazhangyang village insists on living on the isolated building, because they are not satisfied with the relocation compensation offered by the government, the neighbors said, according to the captions of the photos taken on Wednesday.

To guarantee their safety, neighboring rooms next to them are being kept from demolition, though the neighbors all moved out.

The road, which leads to the Wenling Railway Station, hasn’t been put into use yet.”

via Lone stand against wrecking ball[1]|chinadaily.com.cn.

Posted in China alert, Citizens's rights, Construction, demolition, Economics, Human rights, Justice, public protest | Leave a Comment »

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21/11/2012

* India to miss export target

Bad news for ruling Congress Party as national general elections are scheduled for next year.

WSJ: “India’s merchandise exports are set to fall way short of initial estimates because of a demand slowdown in key markets, shows a government projection that is likely to deepen concerns on the country’s financial health and hurt its currency.

India’s exports could be as low as $291 billion in the fiscal year through March, compared with the initial target of $360 billion, according to a trade ministry document. At best, that if market conditions improve dramatically from now, exports could total $300 billion to $320 billion.

via India to Miss Export Target – WSJ.com.

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21/11/2012

* India outraged: voices rise in crescendo against ‘Facebook arrests’

Technoholik: “Oppressive, deplorable, arbitrary… the adjectives flew freely Tuesday as Indians across all sectors verbalised their outrage at the arrest of two young women who questioned on Facebook the shutdown in Mumbai after Shiv Sena chief Bal Thackeray‘s death.

Shaheen Dhada, left, and Renu Srinivas, who were arrested for their Facebook posts, leave a court in Mumbai on Nov 20, 2012

A day after 21-year-old Shaheen Dabha was arrested with her friend, who had ‘liked’ the post on Facebook, and her uncle’s clinic in Thane was vandalised, police arrested nine people believed to be from the Shiv Sena. Both the women were arrested Sunday – for “hurting religious sentiments” and under the Information Technology Act, 2000 – and released on bail Monday. Police also launched an inquiry against the arrests and the vandalism in Thane, near India’s financial and entertainment hub Mumbai.

But that did little to curb the democracy vs dictatorship debate and the mounting fury over police high-handedness. The topic was hotly discussed in college and school classrooms, in offices, on social networking sites and was also the top trending topic on Twitter. From corporates and students to politicians and academics, the voices of protest, young and old, rose in unison. “I am so scared to write on facebook… My freedom of expression is killed by the arrest of two young ladies in Mumbai,” wrote Guwahati-based wildlife activist Firoz Ahmed on his Facebook wall.

“Police officers who arrested the two girls in Mumbai shud be immediately dismissed. That’s minimum that the govt ought to do,” tweeted activist-turned-politician Arvind Kejriwal. “Now you can’t ask questions about why there should be a bandh? Did anyone notify the police that this is actually a democracy?” Mumbai-based author Jerry Pinto wrote angrily on his Facebook wall. In Mumbai-based communications professional Kumar Manish’s view, the arrests were an “oppressive way of muzzling voices”. “It is unfortunate and deplorable that Maharashtra Police, a state functionary, acts and reacts within couple of hours for an action which is within the laws enshrined in the Constitution of India… We are living in a democracy, let us not make it ‘demo-crazy’,” he added.”

via India outraged: voices rise in crescendo against ‘Facebook arrests’ | Technoholik.com.

Posted in Censorship, Citizens's rights, Human rights, India alert, Rule of law | Leave a Comment »

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21/11/2012

* Hope rule of law will prevail in Pak in 26/11 case: Khurshid

The Hindu: “With the execution of lone surviving Mumbai attacks gunman Ajmal Kasab, India hopes “rule of law” will prevail in Pakistan as well, said External Affairs Minister Salman Khurshid even as civil society organisations were saddened by the end to the country’s moratorium on capital punishment.

Mr. Khurshid was referering to a trial in Pakistan of seven persons accused of masterminding the Mumbai attacks. The Minister said India had not received any request from Pakistan for handing over the body of Kasab whose hanging came barely 12 hours after India voted against a non-binding resolution in the United Nations banning the death penalty.”

via The Hindu : News / National : Hope rule of law will prevail in Pak in 26/11 case: Khurshid.

Posted in India alert, Politics, Rule of law, terrorism | Leave a Comment »

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21/11/2012

* Construction on Chery-Jaguar Land Rover JV starts in east China

Jaguar-Land Rover is following a path long set by other top-end car makers like Mercedes and BMW. It will, hopefully, not mean a reduction of jobs in the UK.

Xinhua: “Construction of a joint venture (JV) project between China’s auto giant Chery and Britain-owned luxury carmaker Jaguar Land Rover (JLR) started Sunday in east China’s Jiangsu Province.

Foundation stone-laying ceremony was held at the economic and technology development area in the city of Changshu, according to the city’s government.

The JV project, with a total investment of 17.5 billion yuan (2.8 billion U.S. dollars), will have an ultimate annual output of 250,000 units of passenger vehicles, said the government in a press release.

The first phase of the project, which costs 10.9 billion yuan, is expected begin producing vehicles in July 2014. Annual production capacity of the first phase will include 77,000 Land Rover SUVs, 23,000 Chery cars, and 30,000 unit of Jaguar cars by 2016.

New energy vehicles and cars with aluminum body will be produced in the JV, and its own brand will also be developed after its completion.

The JLR is also expected to establish a research and development center in the city, said the press release.

Chery was founded in 1997 and has since emerged as one of China’s largest and most productive automotive manufacturers. In 2011, Chery recorded sales of 643,000 units, ranking the sixth among China’s passenger vehicle manufacturers.

JLR, a wholly-owned subsidiary of Tata Motors, is the largest manufacturer of premium vehicles in Britain.

In 2005, sales in China accounted for one percent of combined Jaguar and Land Rover sales. The country is now JLR’s third largest market and is still growing.”

via Construction on Chery-Jaguar Land Rover JV starts in east China – Xinhua | English.news.cn.

Posted in Affluence, China alert, Consumer, Economics, FDI, joint venture, luxury brand, Manufacturing | Leave a Comment »

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21/11/2012

* China’s commerce minister voted out in rare congress snub

Is this the start of something new and different – internal CPC democracy?  Time will tell.

Reuters: “China’s commerce minister was surprisingly blocked from a spot on the ruling Communist Party’s elite body during a conclave this week, sources said, a rare snub for an official that could raise questions about trade policies during his tenure.

China's Minister of Commerce Chen Deming looks on during a news conference at the 8th World Trade Organization Ministerial Conference in Geneva December 15, 2011. REUTERS/Denis Balibouse

The failure of Chen Deming to secure a seat on the 25-member Politburo marks one of the few surprises to emerge from the party’s five-yearly congress that wrapped this week with the anointing of a new slate of top leaders who will run the world’s second largest economy.

It is also the first time in more than two decades that an official designated for a Politburo spot has been voted out of the party’s 205-member Central Committee in elections. Central Committee membership is a prerequisite for a Politburo seat.

“Chen Deming was voted out during multi-candidate elections to the Central Committee,” one source told Reuters. State news agency Xinhua said there were eight percent more candidates than seats in a preliminary vote before the formal election on Wednesday.”

via China’s commerce minister voted out in rare congress snub: sources | Reuters.

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21/11/2012

* Will the Chinese people demand democracy any time soon?

If personal income (above US$10,000 per annum) is a criteria for the desire to seek democracy, and if the plan to double the personal income in a decade is met; then by the end of this leadership decade, CPC better get ready to act – in one way or another!

Posted in Affluence, China alert, Democracy, Politics | Leave a Comment »

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20/11/2012

* China, India to hold strategic economic dialogue this month

Xinhua: “China and India will hold the second round of strategic economic talks in New Delhi on Nov. 26, a Chinese Foreign Ministry spokesperson confirmed Tuesday.

Zhang Ping, head of China’s National Development and Reform Commission, and Indian Planning Commission Deputy Chairman Montek Singh Ahluwalia will co-chair the dialogue.

At a daily press briefing, Chinese Foreign Ministry spokesperson Hua Chunying briefed reporters on the talks.

Hua said the dialogue constituted an important part of the “Year of China-India Friendship and Cooperation” activities.

The two sides will exchange views to seek broader economic cooperation and promote coordination on macroeconomic policy. They will also strenghten cooperation in areas such as investment, infrastructure, high-technology, energy-saving and energy resources.

China and India held the first round of the strategic economic dialogue in Sept. 2011.

When responding to a question on border issues, Hua said specific information of the new round of meetings between special representatives on China-India border issues will be released at an appropriate time.

China and India experienced a border conflict in 1962.

The two countries launched the mechanism of meetings between special representatives on border issues in 2003. The previous round of meetings on border issues was held in India in January.”

via China, India to hold strategic economic dialogue this month – Xinhua | English.news.cn.

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