Archive for ‘JV’

07/05/2014

China’s Premier Li Goes to Africa – Businessweek

Chinese Premier Li Keqiang is visiting Ethiopia, Nigeria, Angola, and Kenya this week in his first trip to Africa since assuming office. Accompanying him is his wife, Cheng Hong, who is making her first public appearance on a diplomatic mission—and a splash in China’s domestic media, given the relative novelty of top leaders’ wives appearing in public in official roles.

Li speaking on May 5 in Ethiopia

Over the past decade, China’s economic ties to Africa have grown quickly. Trade has risen (PDF) from $10 billion in 2000 to $166.3 billion in 2011. Meanwhile China’s foreign direct investment in Africa has jumped from $392 million in 2005 to $2.5 billion in 2012, according to figures from China’s commerce ministry. Much of that money has gone to infrastructure projects, including roads, dams, mines, and oil rigs.

On Monday in Addis Ababa, Ethiopia’s capital, Li laid out his vision for the future of China-Africa relations. Speaking at the headquarters of the African Union, he said he imagined a day when all African capitals would be connected by high-speed rail—quickly adding that China’s experience and technology could “help make this dream come true,” according to state-run newswire Xinhua.

via China’s Premier Li Goes to Africa – Businessweek.

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26/03/2014

UK supermarket giant Tesco announces India entry – Businessweek

tesco slough

tesco slough (Photo credit: osde8info)

British supermarket giant Tesco has announced a joint venture in India with a company owned by Tata Group to invest in a chain of grocery stores.

It marks the first multinational entry into India’s vast but underserved retail and supermarket sector since the country allowed such investment in 2012.

Tesco said Friday it would invest 85 million pounds ($140 million) to take a 50 percent share of Tata-owned Trent Hypermarket Ltd, which operates the Star Bazaar chain. It said the chain would operation 12 stores in southern and western India selling food and groceries, home and personal products, plus fashion and accessories.

via UK supermarket giant Tesco announces India entry – Businessweek.

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