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Adani gets environmental clearance for $16.5 billion coal mine in Australia
Despite serious environmental concerns, the Australian federal government approved the Adani group’s $16.5 billion Carmichael coal mine and rail project. When completed, it will be one of the biggest coal mines in the world.
Cruise lines are betting that the growing number of middle class consumers in China are keen to sample chocolate buffets and stroll the Lido deck. And that’s leading to an influx of ships being sent to sail year-round from mainland China.
China is expected to be the world’s second-largest cruise market (after the U.S.) by 2017, with growth rates far higher than in North America and Europe, the two regions where the industry has historically collected most of its profits. Carnival (CCL), the industry’s largest player, with 10 brands and more than 100 ships, plans to base four ships in mainland China next year, while also boosting its year-round fleet in Australia. The Asian Cruise Association estimated in a 2013 report that area demand will nearly triple to 3.8 million annual cruisers in 2020, with 1.6 million from China.
“The reality is that the [Asian] market’s huge, and it’s going to be very significant over the next 10 to 20 years,” Carnival Chief Executive Officer Arnold Donald says. “We have never been more committed to China as a market of great strategic importance for our company.”
via In China, Cruise Lines Hope to Woo Millions of First-Time Guests – Businessweek.
China’s Bright Food Group Co Ltd SHMNGA.UL said on Thursday it has signed a preliminary agreement to buy 56 percent of Israel’s largest food company Tnuva from private equity firm ApaxAPAX.UL, extending a string of overseas acquisitions.
bright foods (Photo credit: Runs With Scissors)
A spokesman for Bright Food did not disclose how much it has agreed to pay, but Israeli news websites reported late on Wednesday the deal valued all of Tnuva, a specialist dairy produce supplier, at 8.6 billion shekels ($2.5 billion).
When Apax and Israeli investment company Mivtach Shamir Holdings Ltd (MISH.TA) acquired control of Tnuva in 2008, the company was valued at $989 million in total.
“Israel is a country with highly developed agriculture and animal husbandry techniques. Tnuva, as Israel’s largest food company, has a long history and various products and large market share,” the Bright Food spokesman said in a text message sent to Reuters.
Shanghai-based Bright Food has not yet reached an agreement with Israeli investment company Mivtach Shamir Holdings Ltd (MISH.TA), which owns 21 percent of Tnuva, the Calcalist website said. A group of kibbutzim, or cooperative farms, own the rest of Tnuva.
In January Bright Food bought Australian dairy company Mundella Foods. It previously bought Australia’s Manassen Foods, which supplies food brands to Australian retailers, and New Zealand’s Synlait Milk Ltd (SML.NZ).
via China’s Bright Food to buy control of Israel’s largest food company | Reuters.
Chinese investors, done splurging on Australia’s once-booming mining industry, are sniffing around the country’s tourism market in search of bargains.
As Ross Kelly and Rebecca Thurlow report:
Their arrival promises to give a new lease of life to dilapidated resorts and properties stretching from Queensland state on the eastern coast to rural Western Australia.
Many investors are betting on an explosion in tourism Down Under, particularly from China—where people from the country’s expanding middle class are increasingly choosing to spend their holidays in countries that are considered exotic. Although Australia remains a relatively expensive destination, more Chinese are attracted each year to the country’s sunny beaches and unusual wildlife.
Sensing an opportunity, Chinese investors have begun snapping up hotels across the country at an unprecedented rate. They’re also weighing into casinos, a popular hangout for Chinese travelers, as well as experimenting with more offbeat attractions such as a China-themed amusement park.
…
Tourist arrivals in Australia surged by 10% in the 12 months through February, helped in part by a sudden pullback in the Australian dollar last year from historic highs. The number of Chinese traveling to Australia touched a record 748,000 people in the same period—up 16% from a year earlier, according to government figures.
If the current pace of growth in tourism continues, China may soon surpass neighbor New Zealand as Australia’s primary source of visitors, brokerage Commonwealth Securities predicts. Chinese visitors are already spending more in Australia than travelers from any other country, government data show.
via Chinese Travelers Breathe New Life Into Australian Tourism – China Real Time Report – WSJ.
Prosecutors in central China on Thursday charged the former chairman of Hanlong Mining, which had tried to take over Australia’s Sundance Resources Ltd, with murder, gun-running and other crimes as part of a “mafia-style” gang.
Police last year announced the detention of Liu Han and an investigation into his younger brother Liu Yong – also known as Liu Wei – on suspicion of various criminal activities.
In a report carried by the official Xinhua news agency, prosecutors in the central province of Hubei said the two Lius set up the gang in 1993, along with 34 others, which “carried out a vast number of criminal activities”.
The gang was responsible for nine murders, the report said.
via China charges former mining magnate with murder, gun-running | Reuters.
Algae.Tec Ltd., an Australian producer of algal oils used in cleaner fuels, is teaming up with a unit of Reliance Industries Ltd. to build a pilot production facility in India.
Reliance Industrial Investments and Holdings Ltd. will invest A$1.5 million ($1.3 million) in Algae.Tec and A$1.2 million more over the next two years, Perth-based Algae.Tec said in a statement.
The companies will develop a pilot project in India that will produce two barrels of biofuel a day and be funded by Reliance affiliates, Algae.Tec said. Reliance plans to work with its new partner to help bring the technology to market.
via Algae.Tec Teams With Reliance to Build Clean-Fuel Plant in India – Businessweek.
Trapped Chinese research vessel and icebreaker Xuelong on Monday is continuing to make the necessary preparations for possible escape from heavy sea ice in the next 48 hours.
Starting from early morning Tuesday, Xuelong will enforce a 48-hour highest-level emergency state, closely monitoring the movements of surrounding floes and icebergs and standing ready to break through.
Wu Jianjie, chief engineer of Xuelong, told Xinhua on Monday that all machines on the icebreaker are operating well.
Experts from China\’s National Marine Environment Forecasting Center (NMEFC) said that until Wednesday, the area where Xuelong is trapped will be affected by a warm wet air current from the north and see a westerly wind hopefully create favorable conditions for Xuelong to break through.
The icy edge of the area, six km east of Xuelong, has begun to loosen, and some small ice-free pools have appeared in the area.
The experts added that the icebergs near Xuelong do not currently pose any threat to the vessel, however, an unfavorable south-easterly wind is expected on Thursday.
Xuelong has been making preparations to free itself, warming up its engine and broadening an \”ice-breaking runway\” by sailing back and forth over a kilometer.
The icebreaker has been trapped in the area since Friday, one day after its helicopter Xueying evacuated all 52 passengers from the stranded Russian ship Akademik Shokalskiy to the Australian icebreaker Aurora Australis.
via Xuelong stands ready to break through in 48 hours – Xinhua | English.news.cn.
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All 52 passengers stranded on the Russian research ship Akademik Shokalskiy in Antarctica for nine days were rescued by a Chinese helicopter on Thursday.
The helicopter from the Chinese icebreaker Xuelong, or Snow Dragon, transferred the passengers to an ice floe close to Aurora Australis, an Australian Antarctic supply ship.
\”I think everyone is relieved and excited to be going on to the Australian icebreaker and then home,\” Chris Turney, leader of the Russian expedition, told the Associated Press by satellite phone from the Russian vessel, which has been stuck in the ice since Christmas Eve.
He posted on Twitter that the helicopter had arrived at the Akademik Shokalskiy, saying \”huge thanks to all\”.
The helicopter Xueying 12, or Snow Eagle 12, made six trips to pick up all the passengers and their luggage.
The passengers comprised scientists, tourists and journalists who were scheduled to follow in the footsteps of Australian Douglas Mawson and his 1911-14 expedition.
via Chinese helicopter saves 52 in Antarctica – Chinadaily.com.cn.
FOREIGN Minister Julie Bishop threw Australia’s support behind Japan’s attempts to shift its military to a more “normal” defence posture in a speech in Tokyo yesterday.
Australia\’s backing for Japan’s proposed move away from a purely defensive military runs the risk of sparking resentment in China, which retains deep suspicion of the hawkish Abe government’s motives for such changes.
Beijing has already complained about the US, Australia and Japan “ganging up” on it over territorial disputes and is likely to take a dim view of Tony Abbott nominating Japan as Australia’s “closest friend” in Asia.
Addressing the Japan National Press Club, Ms Bishop said Australia supported Japan being able to play a greater role in collective security missions with Australia or other allies.
“We look forward to Japan making a greater contribution to security in our region and beyond – including through our alliances with the United States,” she said. “We support Japan’s plan to work towards a more normal defence posture to help it play that greater role.”
Japan has a large and well-equipped military, with a powerful navy, but is heavily restricted in how it operates by the pacifist constitution drawn up with US input after the end of World War II.
Ms Bishop said she was aware of how closely regional powers were eyeing Japan\’s moves to change its defence posture, but said it needed greater flexibility to participate in joint operations.
“We work in partnership with Japan in many places around the world and it would be better for the region, Australia and the world for them to play a bigger role,\” told The Australian after the speech. “For example, Japan and Australia were working side by side in Afghanistan. If Australians were attacked, Japan would not have been able to support us, so that’s not normal.
“It seems sensible to allow Japan to respond more appropriately and in a more normal way to collective defence measures.”
As the Abbott government strives to conclude free trade agreements with Japan, China and Korea within 12 months, defence scholar Hugh White warned in an opinion piece that China might retaliate by withdrawing from FTA negotiations if Australia continued to embrace Japan with such fervour.
Ms Bishop did not agree with Dr White\’s view and said Australia could juggle relations with North Asia’s two great powers – and our largest trading partners – with a “deft” political touch.
“We value our relationship with China, we want to more broadly and deeply engage with China so it is not just seen through the prism of a resources and trading relationship, and that message is warmly received in Beijing,” she said.
via Julie Bishop supports Japan on defence | The Australian.
COALITION tensions are growing, with the Nationals expected to insist on a lowering of foreign investment thresholds as Liberals push for them to be used as a bargaining chip with China.
The Nationals partyroom meeting next Thursday is expected to endorse the lowering of the threshold for purchases of farmland from $248 million to $15m, before a Foreign Investment Review Board investigation is triggered. They will also continue to maintain their opposition to the foreign acquisition of GrainCorp.
The Nationals are expected to insist that any FTA deals struck open up agricultural opportunities for Australian primary producers and that the government avoids “carve outs” of contentious issues just to get a deal.
However, sources have told The Weekend Australian the Liberals are ultimately inclined to be \”much more flexible\” on the FIRB threshold issue.
The differences set up a potential flashpoint between the Coalition partners asTony Abbott pursues his free trade ambitions.
At the East Asia summit in Brunei this week, the Prime Minister set a “working target” of 12 months to sign free trade agreements with Australia‘s three biggest export markets — China, Japan and South Korea.
Victorian Liberal MP Dan Tehan said yesterday the government should consider putting the thresholds on the table during free trade negotiations with the Chinese, who want the $1 billion foreign investment threshold that was given to the US in its FTA with Australia.
“If the Chinese want us to lift those thresholds, then absolutely that should be part of the negotiation,” Mr Tehan said.
Mr Tehan, a former senior adviser to Howard government trade minister Mark Vaile, said this might give Australia negotiating leverage as it thrashed out the trade deal.
NSW Nationals senator John Williams made it clear the party would insist on the threshold reductions when it met next week.
continuously updated blog about China & India
continuously updated blog about China & India
continuously updated blog about China & India
CHINDIA ALERT: You'll be living in their world, very soon 