Chindia Alert | CHINDIA ALERT: You'll be living in their world, very soon

12/02/2014

IBM’s CEO visits China for trust-building talks with govt leaders: sources | Reuters

A slide in IBM Corp’s (IBM.N) sales in China amid a broad backlash against claims of U.S. government spying has triggered a rare visit to Beijing by Chief Executive Officer Ginni Rometty.

Visitors walk past the IBM booth at the 9th China International Software Product & Information Service Expo in Nanjing, Jiangsu province September 6, 2013.REUTERS/China Daily

The head of the world’s biggest technology services company arrives in China’s capital on Wednesday for three days of meetings with government leaders, according to people familiar with her visit. The visit comes as U.S. firms like IBM and Cisco Systems Inc (CSCO.O) seek to restore trust with Chinese regulators and reverse slumping sales.

Beijing has encouraged state-owned companies to buy China-branded products since last year’s revelations by former National Security Agency contractor Edward Snowden of spying. That has undercut business at some U.S.-based multinationals operating in the world’s second-biggest economy.

via IBM’s CEO visits China for trust-building talks with govt leaders: sources | Reuters.

Posted in China alert, Economics | Leave a Comment »

Tags: Beijing, Chief Executive Officer Ginni Rometty., China, Cisco Systems, Cisco Systems Inc, Edward Snowden, Ginni Rometty, government leaders, IBM, IBM Corp, National Security Agency, rare visit, technology services company

12/02/2014

China to crack down on fake data ‘corruption’: statistics chief | Reuters

The accuracy of economic statistics in general in China has come under the spotlight in recent years as some growth-obsessed local governments published false economic data.

Waiters from a hotel cross a road in Beijing's Central Business District, September 3, 2010. REUTERS/Jason Lee

“In the area of statistics, falsification can be considered as the biggest form of corruption,” Ma Jiantang, head of the National Bureau of Statistics told a meeting, in a reference to the Chinese government’s broader crackdown on corruption.

“We must seriously investigate and punish such corruption cases,” Ma was quoted as saying in a statement on the agency’s website, http://www.stats.gov.cn

via China to crack down on fake data ‘corruption’: statistics chief | Reuters.

Posted in China alert, Economics, statistics | Leave a Comment »

Tags: Asia, China, chinese government, corruption, corruption cases, Economic data, Economic statistics, Ma Jiantang, national bureau of statistics, National Bureau of Statistics of the People's Republic of China, statistics

12/02/2014

Electric private hire cars (made in China) launched in London | Fleet News

Private hire chauffeur operator Thriev has launched a fleet of 20 zero-emission, fully-electric BYD e6 cars in London.

Thriev is the first company to offer low-cost, zero-emission, chauffeured vehicles to corporate and private users in London. The BYD e6 is ideally suited for private hire operations, providing a range of up to 186 miles and the 20 private hire cars will be able to be recharged both at the depot and on the road thanks to British Gas.

The new fleet is the result of a shared ‘green city solution’ vision, to bring reliable, emission-free transport to London’s roads, replacing petrol and diesel powered vehicles with electric ones. The 20 BYD e6 vehicles operated by Thriev join two fully-electric BYD buses that are already in service with Go-Ahead Group on two central Transport for London routes.

The Thriev service will be supported by a brand new city-wide charging network installed by British Gas in addition to its own rapid charging stations. British Gas has been leading the delivery of the UK’s charging infrastructure for electric vehicles since 2010. The first rapid chargers, made by BYD and capable of charging an e6 to 80% in just 30 minutes, have already been installed at Thriev’s Edgware Road facility. As the service expands across the UK, creating one of the largest of its kind, it will eventually see each unit of electricity matched with a unit of 100% British renewable electricity.

via Electric private hire cars launched in London | Fleet News.

Posted in China alert, Economics, Pollution, Technology, Transport | Leave a Comment »

Tags: British Gas, BYD, BYD e6, Edgware Road, Electric car, electric vehicles, Go-Ahead Group, London, private hire cars, Thriev, Zero emission

12/02/2014

Xiaomi is the world’s third most innovative company; “Made in China” now a compliment – Yahoo News Singapore

For the longest time, China has been known as a manufacturing powerhouse and because of that, its quality of goods has a notorious reputation. Consumers shun away and give products a smirk whenever there is a “Made in China” label on it.

American consumers associate Chinese manufacturing with the terms “mass produced,” “cheap” and “poor safety standards” more than anything else.

However, that is now changing.

“Made in China” is now a compliment as the emphasis on quality is returning.

Fast Company just announced their own list of the World’s 50 Most Innovative Companies. Other than tech giants from the west such as Google, Apple, Tesla, Dropbox and a handful of others, several Chinese companies rose to the list, raising the eyebrows of industry watchers.

In particular, Xiaomi, emerged as the third most innovative company just behind Google and Bloomberg, beating several other companies including Apple and Nike. Xiaomi is reinventing the smartphone business, a segment that is exploding around the world now.

via Xiaomi is the world’s third most innovative company; “Made in China” now a compliment – Yahoo News Singapore.

Posted in China alert, Economics, innovation, Technology | Leave a Comment »

Tags: Apple, China, compliment, Dropbox, Fast Company, Google, List of companies of China, notorious reputation, Tesla Motors, Xiaomi, Xiaomi Tech

11/02/2014

China’s power capacity up 94 mln kw in 2013 – Xinhua | English.news.cn

China’s installed power capacity increased by 94 million kilowatts (kw) in 2013, the National Energy Administration (NEA) said on Monday.

Thermal power accounted for the bulk of the capacity growth, topping 36.5 million kw, followed by 29.93 million kw from hydropower, 14.06 million kw from on-grid wind power, 11.3 million kw from on-grid solar power and 2.21 million kw from nuclear power.

The country’s total installed power capacity topped 1.25 billion kw at the end of 2013, up 9.3 percent year on year.

Thermal power accounted for the bulk of the total capacity at the end of 2013, reaching more than 860 million kw, up 5.7 percent year on year.

On-grid solar energy capacity increased by 340 percent from a year earlier.

China’s electricity consumption, a key indicator of economic activity, rose 7.5 percent year on year to 5.32 trillion kilowatt hours in 2013, according to the NEA.

The growth rate exceeded the 5.5-percent rise registered in 2012, but was lower than the 11.7-percent rise registered in 2011.

via China’s power capacity up 94 mln kw in 2013 – Xinhua | English.news.cn.

Posted in China alert, Economics, Electricity | Leave a Comment »

Tags: China, energy, kw, National Development and Reform Commission, National Energy Administration, NEA, Nuclear Energy Agency, power capacity, Solar power, Watt, Wind power

11/02/2014

Kejriwal orders probe into gas price hike issue, names Moily, Deora – The Hindu

The Delhi Government on Tuesday ordered the filing of criminal cases against Union minister Veerappa Moily, former minister Murli Deora, Reliance Industries Chairman and Managing Director Mukesh Ambani and others following complaints of irregularities in pricing of natural gas in the KG basin.

Delhi Chief Minister Arvind Kejriwal has said the move to hike the price of natural gas will have a cascading effect on the economy. Photo: Shiv Kumar Pushpakar

Chief Minister Arvind Kejriwal said the Anti Corruption Branch (ACB) of the Delhi Government has been asked to probe the matter based on a complaint filed by former Cabinet Secretary TSR Subrmanian, Admiral Tahiliani, former Navy Chief and eminent lawyer Kamini Jaiswal besides a former Expenditure Secretary.

“Today we have asked the ACB to probe the case. We are filing a criminal case against Murli Deora. FIRs are being filed against Moily, Mukesh Ambani former DG of Hydrocarbons V K Sibal, Reliance Industries Ltd and others,” he said addressing a press conference here.

Without explaining whether the Delhi Government has jurisdiction to probe the case, Mr Kejriwal alleged that Reliance Industries Ltd was benefited as Oil Ministry decided to hike the natural gas price to USD 8 per million British thermal unit as against current USD 4.2 from April 1.

He alleged that RIL did not produce adequate gas from eastern offshore KG basin block so as to put pressure on the government to hike the price. Reliance did not offer any immediate comments on the issue.

Union Petroleum Minister M Veerappa Moily however, rejected Mr Kejriwal’s allegations, saying price of petroleum products was fixed according to expert advice.

via Kejriwal orders probe into gas price hike issue, names Moily, Deora – The Hindu.

Posted in corruption, Economics, India alert, Politics | 1 Comment »

Tags: Arvind Kejriwal, British thermal unit, Delhi Government, Krishna Godavari Basin, Managing Director Mukesh Ambani, Mukesh Ambani, Murli Deora, Natural gas, Reliance Industries, Union minister Veerappa Moily, Veerappa Moily

11/02/2014

India to Fight U.S. Solar Protectionism Charge as Ties Fray (1) – Businessweek

India will dispute a U.S. complaint at the World Trade Organization that it unlawfully restricts imports of solar equipment, saying American panel makers such as First Solar Inc. (FSLR:US) have access to most of its market.

“We will give a reply,” Tarun Kapoor, joint secretary at the Ministry of New and Renewable Energy, said in a phone interview. “Most solar projects in India are allowed to import. We have sufficient quantities open for competition.”

India required about 10 percent of new photovoltaic projects permitted in the past year to use domestically made solar cells and modules. The rule violates international trade law and raises the cost of solar energy, U.S. Trade Representative Michael Froman said yesterday in a statement.

via India to Fight U.S. Solar Protectionism Charge as Ties Fray (1) – Businessweek.

Posted in Economics, India alert, Politics | Leave a Comment »

Tags: First Solar, First Solar Inc., India, Ministry of New and Renewable Energy (India), Office of the United States Trade Representative, projects in India, Solar cell, solar equipment, Tarun Kapoor, the Ministry of New and Renewable Energy, U.S., United States, World Trade Organization

11/02/2014

Boeing to Raise India Plane Demand Forecast Amid Surge in Travel – Businessweek

Boeing Co. (BA:US) is set to raise its India market forecast as the planemaker expects surging travel demand in the world’s second-most populous nation to withstand a slowdown in economic growth and a fall in rupee.

Jet Airways Boeing 737

Boeing will increase its prediction for India plane demand in the next couple of months, Dinesh Keskar, a senior vice president at the Chicago-based company, said in an interview to Bloomberg Television’s Haslinda Amin in Singapore today.

The planemaker in 2012 raised its 20-year India market forecast by 9.8 percent, at least the third increase in a row. Carriers in the Asian nation will need 1,450 new aircraft, worth $175 billion over the next two decades, it said last year.

via Boeing to Raise India Plane Demand Forecast Amid Surge in Travel – Businessweek.

Posted in aviation, Economics, Good news, India alert | Leave a Comment »

Tags: $175 billion, Boeing, Boeing Co., Chicago, Dinesh Keskar, Economic growth, Haslinda Amin, India, India market, populous nation, senior vice president, Singapore

11/02/2014

Indian Election Not a ‘Game Changer’ – India Real Time – WSJ

A new Moody’s report argues that the biggest event on India’s political calendar this year will be neutral at best for the country’s creditworthiness—although, at worst, it could heighten existing risks.

India’s national election, due before the end of May, is dominating the country’s newsstands, and has put a freeze on many major policy and investment decisions. Perceptions that the Bharatiya Janata Party’s popular prime ministerial candidate, Narendra Modi, is pro-business have buoyed Indian stock markets even as corporate earnings have disappointed.

But the New York-based credit-ratings agency says the contest between the governing Congress party and the BJP will hardly be decisive for India’s economic prospects.

A strong showing by either of the two major parties “would not be a near-term game changer,” it says in the report. The correlation between economic performance and the party in power is historically quite weak, it notes. What could be a bigger influence is the state of the global economy. Factors such as the budding recovery in the U.S. and Europe, the shaky economic outlook in China, and the Federal Reserve’s withdrawal of monetary stimulus will continue to buffet India and many other big emerging markets.

via Indian Election Not a ‘Game Changer’ – India Real Time – WSJ.

Posted in Elections, India alert, Internal politics, Politics | Leave a Comment »

Tags: Bharatiya Janata Party, China, Credit risk, Federal Reserve System, India, Indian National Congress, Moody's Investors Service, Narendra Modi

11/02/2014

UPDATE 4-Olympics-India returns to the Games as IOC lifts ban | Reuters

India has returned to the Olympic fold after the IOC lifted a ban on the country’s Olympic association on Tuesday, and its athletes will now be able to march behind the Indian flag at the closing ceremony of the Sochi Winter Games.

The country’s athletes have been competing in Russia under the Olympic flag due to the suspension, imposed after it held a 2012 Indian Olympic Association (IOA) election in which a corruption-tainted official was voted in as secretary general.

“It is the first time in Olympic history that a suspension of a National Olympic Committee has been lifted during the Games,” International Olympic Committee spokesman Mark Adams told reporters.

He said the IOC had discussed the matter early on Tuesday and ruled that elections held on Sunday had fulfilled all criteria for the country’s immediate reinstatement.

“We observed the general assembly (on Sunday). We are happy with the changes,” Adams said, adding the IOC’s prerequisite to ban any tainted officials from elections had been fully met.

On Sunday, the IOA voted in a new set of officials with World Squash Federation chief N. Ramachandran elected president, paving the way for the Olympic reinstatement of the world’s second most populous nation.

All India Tennis Association chief Anil Khanna became treasurer in polls which marked the exit of corruption-tainted Abhay Singh Chautala and Lalit Bhanot from the IOA.

via UPDATE 4-Olympics-India returns to the Games as IOC lifts ban | Reuters.

Posted in Good news, India alert, sports | Leave a Comment »

Tags: All India Tennis Association, India, Indian Olympic Association, International Olympic Committee, Olympic, Olympic Games, Sochi, World Squash Federation

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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IBM’s CEO visits China for trust-building talks with govt leaders: sources | Reuters

China to crack down on fake data ‘corruption’: statistics chief | Reuters

Electric private hire cars (made in China) launched in London | Fleet News

China’s power capacity up 94 mln kw in 2013 – Xinhua | English.news.cn

Kejriwal orders probe into gas price hike issue, names Moily, Deora – The Hindu

India to Fight U.S. Solar Protectionism Charge as Ties Fray (1) – Businessweek

Boeing to Raise India Plane Demand Forecast Amid Surge in Travel – Businessweek

Indian Election Not a ‘Game Changer’ – India Real Time – WSJ

UPDATE 4-Olympics-India returns to the Games as IOC lifts ban | Reuters

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