Posts tagged ‘Chicago’

08/10/2016

How India’s Taste for Soy Oil Has Fueled a Surge in Imports – India Real Time – WSJ

Indians are acquiring a strong taste for soybean oil thanks to lower prices, fueling a surge in imports at a helpful time for a global market struggling with a glut of the commodity.

India’s imports of soybean oil have quadrupled in the last five years to more than 4 million metric tons this year, according to data compiled by the country’s vegetable oils industry body. India’s soybean oil imports are expected to rise over the next 10 years by as much as 40%, the U.S. Department of Agriculture estimated in May.

Soybean oil, produced by crushing soybeans, is used in everything from cooking oil to cookies and lipstick.

In India, they are favored for cooking samosas, dosas and curries, but the relatively high price of soy oil was a deterrent for many consumers in the country. India’s gross domestic product per capita grew 6.9% from a year earlier to $6,200 in 2015, but remained much lower than the U.S. with GDP per capita of $55,800, according to U.S. estimates.

India dethroned China two years ago as the world’s largest importer of soy oil. Some Indian consumers who have switched to soy oil cited the steep drop in prices—35% since 2012. Prices of palm oil, its main rival used widely in restaurants and by poorer Indians, have mostly been moving sideways.

“Demand from India will certainly play a role in absorbing excess soy-oil supplies,” said Vamsi Krishna Kona, a trader at Inditrade Derivatives & Commodities.

Source: How India’s Taste for Soy Oil Has Fueled a Surge in Imports – India Real Time – WSJ

02/03/2016

A look back at the 25 goals of 2015|Government|chinadaily.com.cn

Amazing achievement.  How many countries declare goals in such clear numerical form and then exceed 23, meet 1, and fail on only 1 out of 25!

A look back at the 25 goals of 2015

1 Revitalize more than 212.4 billion yuan in central finance fund stock. Fulfillment: 237 billion yuan revitalized.

2 Investment within central budget increased to 477.6 billion yuan. Fulfillment: Investment of 521.1 billion yuan.

3 Railway investment to exceed 800 billion yuan. Fulfillment: Investment of 823.8 billion yuan was completed.

4 Utilize more than 8,000 km of newly built rail. Fulfillment: Newly built rail of 9,531 km was put into use.

5 Start construction of 27 major hydro projects. Fulfillment: Construction of 28 initiated.

6 Cancel all non-administrative approvals. Fulfillment: 453 items were cancelled or adjusted.

7 Cut items limiting foreign investment by half. Fulfillment: 41 of 79 items were deleted.

8 Keep grain yields above 550 million tons and increase deep-plough land by 13.33 million hectares. Fulfillment: Grain yields reached 621 million tons, Deep-plough land increased by 13.648 million hectares.

9 Construct or reconstruct 200,000 km of highways in rural areas. Fulfillment: Rural areas saw 251,000 km of newly constructed or reconstructed highways.

10 Build bridges to replace sliding-chairs to cross remote mountainous areas in the West. Fulfillment: All 288 projects have started construction.

11 Ensure that the more than 200,000 people in the country with no access to electricity get access. Fulfillment: 238,000 got access to electricity.

12 Provide safe drinking water to 60 million rural people. Fulfillment: 64.336 million rural people got access.

13 Eliminate all the 1.162 million heavy-emission vehicles with yellow stickers put into operation before the end of 2005. Fulfillment: 1.26 million such vehicles were eliminated.

14 Reduce energy use and carbon dioxide emissions by 3.1 percent or more. Fulfillment: Energy use was reduced by 5.6 percent, while carbon dioxide emissions were cut by 6.6 percent.

15 Cut chemical oxygen demand emissions by 2 percent, ammonia emissions by 2 percent, sulfur dioxide emissions by 3 percent and nitrogen oxide emissions by 5 percent. Fulfillment: Chemical oxygen demand emissions were cut by 3.1 percent, ammonia emissions by 3.6 percent, sulfur dioxide emissions by 5.8 percent and nitrogen oxide emissions by 10.9 percent.

16 Return 667,000 hectares of farmland to forest and grassland. Fulfillment: 667,000 hectares of farmland were returned.

17 Plant 6 million hectares of forests. Fulfillment: 6.3245 million hectares were planted.

18 Build 7.4 million units in government-subsidized housing projects, renovate 5.8 million units in shanty-towns and 4.32 million dilapidated houses in rural areas. Fulfillment: 7.83 million units in government-subsidized housing projects were built, 6.01 million units were renovated in shanty-towns and 4.68 million dilapidated houses in rural areas.

19 Create more than 10 million jobs in urban areas. Fulfillment: 13.12 million jobs were created in urban areas.

20 Raise standard of financial assistance for basic medical insurance of urban residents to 380 yuan per person per year. Fulfillment: Average standard has been raised to 446 yuan.

21 Raise standard of financial assistance for the new rural cooperative medical system to 380 yuan per person per year. Raise standard of financial assistance for per capita funding for basic public health services to 40 yuan. Carry out pilot projects for public hospital reform in 100 cities at and above prefecture level. Fulfillment: Standard of financial assistance for the new rural cooperative medical system was raised to 390. 24 yuan per person per year. Standard of financial assistance for per capita funding for basic public health services reached 42 yuan. Pilot projects for public hospital reform were carried out in 100 cities at and above prefecture level.

22 The registered urban unemployment rate should not exceed 4.5 percent. Fulfillment: Registered urban unemployment rate was 4.05 percent

23 Cut the rural poor population by at least 10 million. Fulfilled.

24 Employment opportunities for 7.49 million college graduates. Fulfillment: The employment situation was the same as the previous year.

25 Increase imports and exports by 6 percent. Failed to meet the goal: Import and export volumes in 2015 were $3.95864 trillion, down 8 percent. Exports decreased by 2.9 percent, still making China the best performer in major economies. China is still the world’s biggest trading power and export power.

Source: A look back at the 25 goals of 2015|Government|chinadaily.com.cn

06/11/2015

India’s Consumers Are World’s Most Confident – India Real Time – WSJ

India might be facing a slow recovery, but consumers aren’t deterred, putting the country at the top of a confidence survey of major economies.

India came first for consumer confidence among 61 countries in the July-September period in the online survey conducted by New York-based research firm The Nielsen Company.

The country’s positive reading, which measures perceptions of local job prospects, personal finances and spending intentions, comes at a time when confidence declined in eight of the 14 countries in the Asia-Pacific region.

“Indian consumers continue to declare a resilient outlook in the face of uncertainty in the broader economy,” said Roosevelt D’Souza, senior vice president, Nielsen India Region.

Despite weak economic indicators, a poor monsoon and volatility in the job market, Indians’ belief in the fundamental prospects of the country’s economic future appear unshaken and the proportion of consumers who see brighter days ahead are growing, Mr. D’Souza said.

The Indian central bank’s softer interest rate regime and lower inflation are also likely to brighten the prospects of further improvement in consumer confidence, the survey shows.

This might be good news for the economy and consumer goods companies, who reported slow growth in their revenues for the past few quarters because of lower purchases by rural consumers.

China, India’s bigger neighbor and the world’s second-largest economy, ranked ninth in the survey, while the U.S. occupied second place.

The U.S. showed the biggest quarterly improvement of 18 points in the consumer confidence index, but China showed a decline of one point. Its economy has been racked in recent months by an unexpected slowdown and stock market rout.

Other Asian countries that found a place in the top 10 are the Philippines, Indonesia, Thailand.

Source: India’s Consumers Are World’s Most Confident – India Real Time – WSJ

28/07/2015

Delta to buy 3.55 percent stake of China Eastern for $450 million | Reuters

Delta Air Lines Inc (DAL.N) has agreed to buy 3.55 percent of China Eastern Airlines Corp Ltd (600115.SS)(0670.HK), a move that would make it the first U.S. carrier to own part of a Chinese airline.

The deal may prompt Delta’s rivals to beef up partnerships with Chinese carriers in an effort to secure their place in a country that Delta expects to become the biggest market for travel from the United States.

Delta’s purchase challenges rival United Continental Holdings Inc (UAL.N), the leading U.S. airline for service to China. United Chief Executive Jeff Smisek said Thursday during an investor call that the airline would be “keenly interested” in exploring a Chinese joint venture once the United States and China negotiate an Open Skies agreement that would ease air route restrictions.

Atlanta-based Delta said it will invest $450 million in China Eastern’s Hong Kong-traded stock, which has nearly tripled over the past 12 months even as broader Chinese stock indexes have plunged.

Delta said it will get an “observer” seat on China Eastern’s board. The move may pave the way for Delta and China Eastern to seek approval to coordinate pricing and flight capacity.

However, larger tie-ups with antitrust immunity cannot happen until an Open Skies agreement is in place, which could take years. Currently, governments specify which airlines can fly which routes, and how often.

Chinese carriers have been “launching far too much capacity across the Pacific,” industry consultant Robert Mann said. “Everybody is looking for a stronger form of joint-venture partnership for the day when China and the U.S. have Open Skies.”

For now, Delta and China Eastern say they will invest in services so travelers have a seamless experience on the airlines, which share flight codes on 80 routes including subsidiary Shanghai Airlines. The partnership will grow Delta’s foothold in China Eastern’s Shanghai hub, a key market for business travel.

The transaction is subject to approval by each company’s board.

Delta is investing in foreign carriers, taking small stakes in one airline in Mexico and one in Brazil. It also owns 49 percent of Virgin Atlantic Airways Ltd (VA.O) and has used its position to shift the UK carrier’s routes to Delta’s advantage.

via Delta to buy 3.55 percent stake of China Eastern for $450 million | Reuters.

26/06/2014

Indian Property Market Takes A Small Step Out of the Shadows – India Real Time – WSJ

Few that have bought or even rented real estate in India would be surprised by a recent survey showing the property market here can be maddeningly murky.

Jones Lang LaSalle’s Global Real Estate Transparency Index showed that while things have improved, Indian cities still have to work on transparency. The Chicago-based real-estate consultant said India needs to go further to create more clarity on the rules connected to property purchases and real estate prices.

“India still scores among the lowest in the transparency of its transaction process,” the report said.

Jones Lang LaSalle looked at just over 100 markets around the world and rated them on a dozen parameters ranging from the availability of data, the number of publicly-listed developers and the strength of regulators.

India struggles most when it comes to recording real estate transactions. Too many deals are done off the book, recorded with government offices that don’t disclose numbers or are never recorded at all, making it difficult for home buyers and even analyst to assess what a property is worth and which direction property prices are moving.

Most of the deals that pop up on everyone’s radars are big corporate transactions in bigger cities. Those above-board deals may very well be only a tiny slice of all the real estate activity though. Smaller deals done by smaller companies and in smaller cities are often hard to keep track of, analyst say, making it difficult to estimate what is really going on in the real estate market.

Meanwhile the real estate agents are too often untrained and unscrupulous in India. It seems like almost anyone can dabble in the market if they can create the right connections and grease the right palms to push through all the paperwork needed to transfer control of properties.

India’s standing was also hurt by its lack of a regulator for the real estate sector. While a regulator is in the works, the industry is currently being overseen by the Ministry of Urban Development, local registry offices and many others depending on the property.

Things are, however, better than they were a year ago. India’s biggest cities stepped up in Jones Lang LaSalle’s ranking to 40th in 2014 from 48th in 2012 while the medium-sized cities moved up to 42nd place from 49th.

The improvement is thanks to private equity firms who have been investing a lot of money and demand more transparency. India’s growing mortgage-loan market is also helping as banks require more reliable information about buyers, sellers, properties and the way deals are done, said Anuj Puri chairman of Jones Lang LaSalle Inc.’s Indian operations.

Market transparency could get a further boost soon if India’s new government goes ahead with plans to improve real estate regulations.

“Later this year India is likely to enact the Real Estate Regulation Bill, which seeks to improve regulation over real estate agents and the quality of land registry records,” the report said.

via Indian Property Market Takes A Small Step Out of the Shadows – India Real Time – WSJ.

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.

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20/12/2013

Chinese Students in U.S. Boost Luxury Car Sales – Businessweek

Chinese students at the University of Iowa began coming into Carousel Motors in Iowa City about three years ago to get their Mercedes (DAI:GR) and Audi (NSU:GR) luxury cars serviced. Finally, general manager Pat Lind started asking if they’d ever considered his dealership when they made their original purchase. No, the students told him. Back in China, they’d been told to buy their wheels in Chicago before heading to college.

Among Chinese student car buyers in the U.S. in the past two years, 32 percent paid cash

So Lind began sponsoring the university’s Chinese student association, which sends information to incoming students in China before they arrive in the U.S. Sales to Chinese students doubled and now make up about 5 percent of the vehicles sold at the dealership, located about two miles from campus. “We became an advertiser,” Lind says, “and got our face in front of them.”

The number of students from China enrolled in U.S. colleges and universities reached 235,597 during the past academic year, more than triple the 64,757 enrolled in 2002-03, according to the Institute of International Education. These students often come from families that are better off than the typical American college student’s, says Sid Krommenhoek, a founder of Zinch, a consulting firm owned by textbook rental company Chegg that works with prospective Chinese students. Shelling out $50,000 for a high-end car is viewed as an affordable status symbol compared with back home, where such cars can cost two to three times as much because of hefty import duties.

via Chinese Students in U.S. Boost Luxury Car Sales – Businessweek.

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