Posts tagged ‘David Cameron’

06/12/2016

Beer Diplomacy: Another Investment Follows a Visit by Xi Jinping – China Real Time Report – WSJ

After pulling a pint for Chinese President Xi Jinping last year, an iconic English pub has now pulled in Chinese investors.

The Plough at Cadsden was purchased by a London-based investment company that the broker, Christie & Co., described as a Chinese company. Terms weren’t disclosed.

The purchase, by SinoFortone Investment, came after Mr. Xi shared a beer with former U.K. Prime Minister David Cameron at the pub.

Unknown is how his visit may have led to the purchase. But it is the latest deal to follow the Chinese leader’s movements.

On the same day Mr. Xi visited the pub, he also joined Mr. Cameron on a visit to the Manchester City soccer club, in the north of England. The following month a Chinese consortium said it had invested $400 million for a minority stake in the successful soccer club.

Closer to home, Mr. Xi’s patronage of the state-owned Qing Feng Steamed Dumpling Shop in Beijing was followed by an announcement that the restaurant chain plans an IPO. The Plough, which describes itself as “probably the most famous pub in England,” is near Chequers, the country house retreat for British prime ministers. The pub “has become quite a tourist attraction for Chinese visitors” since Mr. Xi’s appearance, Christie & Co said.

SinoFortone Investment extolled the virtues of beer diplomacy, calling pubs “the best way culturally to link people from different countries and build friendships.” The company added that “The English pub concept is growing very fast in China.” SinoFortone has also invested £100 million ($1.28 million) in London Paramount Entertainment, a large theme park proposed for construction on the Swanscombe Peninsula in North Kent. The deal was announced while Xi Jinping was in the U.K.

Source: Beer Diplomacy: Another Investment Follows a Visit by Xi Jinping – China Real Time Report – WSJ

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15/09/2016

Britain approves China-backed Hinkley Point nuclear plant deal after review of scheme | South China Morning Post

The British government said on Thursday it was giving the green light to a controversial new nuclear project at Hinkley Point after Prime Minister Theresa May ordered a review.

“Having thoroughly reviewed the proposals for Hinkley Point C, we will introduce a series of measures to enhance security and will ensure Hinkley cannot change hands without the government’s agreement,” Business Secretary Greg Clark said in a statement.

Beijing calls for British nuclear project financially backed by China to proceed.

“Consequently, we have decided to proceed with the first new nuclear power station for a generation.”

The board of French state-owned power company EDF approved its participation in the project in southwest England on July 28, only for Britain’s new government under May to announce hours later that it wanted to review it.China has a one-third stake in Hinkley Point and analysts have warned that Britain would have risked its relations with the world’s second-largest economy if it cancelled the costly deal.

Source: Britain approves China-backed Hinkley Point nuclear plant deal after review of scheme | South China Morning Post

08/04/2015

Narendra Modi to hard sell ‘Make in India’ at talks with business leaders in Hannover Messe during Germany visit – The Hindu

Prime Minister will inaugurate the Hannover Messe, considered the largest congregation of business tycoons.

Prime Minister Narendra Modi speaks at an event in New Delhi on Wednesday. Photo: V. Sudershan

Prime Minister Narendra Modi will hard sell India as an attractive investment destination while deliberating with movers and shakers of global business at the Hannover Messe during his three-day trip to Germany beginning Sunday, besides holding talks with its top leadership.

In his maiden visit to the European nation as Prime Minister, Mr. Modi will have a packed schedule and wooing investors and projecting his ambitious “Make in India” initiative will be a major focus area.

Mr. Modi will inaugurate the Hannover Messe, considered the largest congregation of business tycoons, along with German Chancellor Angela Merkel. India is the partner country of the fair this year where over 350 Indian enterprises are participating.

“In January, the world came to vibrant India in Gujarat and now exactly three months later, vibrant India is coming to the world in Germany to Hannover Messe,” German Ambassador Michael Steiner told reporters briefing on Mr. Modi’s trip.

Expecting that Mr. Modi’s visit will take the relationship to a “new level”, Mr. Steiner said Chancellor Merkel will come to India in October for the inter-governmental meeting where all major issues will be deliberated at length.

via Narendra Modi to hard sell ‘Make in India’ at talks with business leaders in Hannover Messe during Germany visit – The Hindu.

14/03/2015

Mahatma Gandhi gets London statue near nemesis Churchill | Reuters

Britain will unveil a statue of Indian independence leader Mahatma Gandhi on Saturday in London’s prestigious Parliament Square, a space packed with monuments to men who defended the British Empire which Gandhi helped destroy.

In an ironic twist, Gandhi’s likeness will sit close to that of Britain’s former wartime leader Winston Churchill, a man who strained to thwart Indian independence and who despised Gandhi and everything he stood for.

Churchill famously called Gandhi “a seditious Middle Temple lawyer, now posing as a fakir of a type well known in the East, striding half-naked up the steps of the Vice-regal palace.”

But almost seven decades after India won independence from Britain in 1947, in large part thanks to Gandhi’s peaceful civil disobedience campaign, relations between the two countries are strong with both nations keen to boost economic ties.

via Mahatma Gandhi gets London statue near nemesis Churchill | Reuters.

29/01/2015

China eyes mass innovation, entrepreneurship as new engine – Xinhua | English.news.cn

China’s State Council pledged to take various steps to create an amicable environment for innovation and entrepreneurship in order to power growth and generate jobs.

China should embrace the trend of mass entrepreneurship and innovation in the Internet age, a statement released after an executive meeting of the State Council presided over by Premier Li Keqiang said.

The statement said China will foster a platform offering low-cost services in a variety of areas to micro businesses and individual start-ups that show innovation.

The government will also step up policy support, such as simplifying registration procedures and giving subsidies, to innovative businesses. They will improve financing systems to give special support to start-up companies, according to the statement.

Although China’s broader economy is slowing, China’s young entrepreneurs are driving a wave of startups that has become a bright spot for the economic landscape and an important engine for future growth.

The number of newly founded companies in China surged almost 46 percent year on year to 3.65 million in 2014, the latest data showed.

via China eyes mass innovation, entrepreneurship as new engine – Xinhua | English.news.cn.

19/11/2014

Why India is doing better than most emerging markets | The Economist

INVESTORS have fallen out of love with emerging markets. Since the start of last year emerging-market stocks have trailed their rich-world peers. Currencies are falling. Worst-hit is the Russian rouble, which has fallen by 30% against the dollar this year. The currencies of other biggish emerging markets, such as Brazil, Turkey and South Africa, have also weakened. For such economies growth is harder to come by. The IMF recently cut its forecasts for emerging markets by more than for rich countries. But India is a notable exception to the general pessimism. Its stockmarket has touched new highs. The rupee is stable. And the IMF nudged up its 2014 growth forecast for India to 5.8%. That figure is still quite low: growth rates of 8-9% have been more typical. But in comparison with others it is almost a boom. Why is India doing better than most emerging markets?

In part optimism about India owes to its newish government. In May Narendra Modi’s Baratiya Janata Party (BJP) won a thumping victory in elections on a pro-growth platform. Since then the BJP has strengthened its position in some key states. So far reform has been piecemeal. Procedures for government approvals have been streamlined. The powers of labour inspectors have been curbed. Civil servants now work harder. That has been enough to sustain hopes of further and bigger reforms. Yet much of the continued enthusiasm about India is down to luck. The currents that sway the global economy presently—the dollar’s strength; slowdown in China; aggressive money-printing in Japan; stagnation in the euro zone and falling oil prices—are less harmful to India than to most emerging markets.

Start with the dollar, which has been buoyed by a resilient American economy and the prospect of interest-rate increases by the Federal Reserve. Past episodes of rising interest rates and dollar strength (for instance in the early 1980s or mid-1990s) have not been kind to emerging markets. Bond yields rise and currencies fall as capital is drawn back to America. India has a bit less to fear from such a rush to the exits; its bond markets are tricky for foreigners to enter in the first place. India is also less harmed by slowdown in China, as only around 5% of its exports go there. It is not part of China’s supply-chain, which takes in much of South-East Asia. Nor is it a big exporter of industrial commodities, as Brazil is. And a weaker yen in response to quantitative easing by the Bank of Japan hurts Asia’s manufacturing exporters more than service-intensive India. The misery in the euro zone is of greater concern to Europe’s trading partners in Turkey and Russia than to faraway India. And the fall in crude-oil prices that hurts oil exporters, such as Russia and Nigeria, is a boon to a big oil importer like India. Indeed the deflation that is stalking large parts of the world is helpful to India, which has suffered from high inflation.

India is not impervious to bad news. Some of its recent economic data have looked a little soggy. Exports slumped in October. Car sales have fallen for two consecutive months and there is little sign yet of a meaningful recovery in business investment. This explains, in part, why there have been growing calls (including from the finance minister) for the central bank to cut interest rates soon in response to a drop in consumer-price inflation. The troubles in other emerging markets ought to counsel caution. Any sign that policymakers might be ditching discipline in favour of quick fixes might see India fall from investors’ favour. But for the time being, it is riding high.

via The Economist explains: Why India is doing better than most emerging markets | The Economist.

28/10/2014

Britain’s PM David Cameron Unveils Encyclopedia of Hinduism – India Real Time – WSJ

British Prime Minister David Cameron held a Diwali party in London to launch the new Encyclopedia of Hinduism, as his Conservative Party attempts to strengthen relations with the country’s large Indian community ahead of national elections next year.

The encyclopedia, which took 25 years to compile, contains 11 volumes and is published by the India Heritage Research Foundation, a nonprofit founded by Pujya Swami Chidanand Saraswati, head of the largest ashram in Rishikesh, a town in northern India.

More than 1,000 guests attended the unveiling of book in Westminster, near the Houses of Parliament. The event was organized by the United Kingdom’s ruling Conservative Party and the Conservative Party Friends of India among others.

Mr. Cameron and his wife Samantha lit a diya, or lamp, at the Diwali party that coincided with the book launch.

Andrew Feldman, chairman of the Conservative Party, said that the book, a product of research by 1,000 scholars, was a “phenomenal achievement.”

“The party wants to deepen and broaden our links with the British Indian community and with India and this event is one important step on our journey,” Lord Feldman said, according to a statement released after the event.

via Britain’s PM David Cameron Unveils Encyclopedia of Hinduism – India Real Time – WSJ.

05/02/2014

Britain says it had role in 1984 India temple raid – Businessweek

Britain has acknowledged advising the Indian government ahead of its 1984 raid on the Golden Temple in Amritsar, an admission that links the U.K. — India\’s former colonial master — with one of the bloodiest episodes in the subcontinent\’s recent history.

Hamandir Sahib or Darbar Sahib (also known as ...

Hamandir Sahib or Darbar Sahib (also known as the Golden Temple). The holiest shrine in Sikhism located in the city of Amritsar, India. (Photo credit: Wikipedia)

Foreign Secretary William Hague told Parliament on Tuesday that British military advice was \”purely advisory\” and had only a \”limited impact\” on the operation.

\”A single U.K. military officer provided some advice. But critically, this advice was not followed, and it was a one-off,\” Prime Minister David Cameron said in a video message to the Sikh community in Britain.

Still, the acknowledgement of any link to the deadly attack that killed hundreds if not thousands at Sikhs\’ holy temple will be disturbing to many.

The storming of the Golden Temple in Amritsar was one of the most contentious episodes in the Indian government\’s battle against Sikh separatists, whose violent campaign for an independent homeland in the Punjab region smoldered into the 1970s and 80s.

\”It is awkward,\” said Sumit Ganguly, an Indiana University professor and the co-author of a book on Amritsar. \”The evidence that the British government might have provided some assistance in terms of the planning of this event is once again going to stoke old memories, memories that had long been buried.\”

via Britain says it had role in 1984 India temple raid – Businessweek.

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26/01/2014

Football: Keepy uppy | The Economist

ALTHOUGH they excel at gymnastics and table tennis, the sport many Chinese really want to win at is football. And yet, mired in match-fixing scandals and with little infrastructure to encourage schoolchildren, football has struggled. In November, though, Guangzhou Evergrande beat FC Seoul to become the first Chinese team to win the Asian Champions League. Could its success have a broader impact?

The team, previously known as Guangzhou Pharmaceutical, had been relegated to the second division because of match-fixing before it was acquired in 2010 by the Evergrande Real Estate Group. Since then, it has won the Super League, China’s equivalent of England’s Premier League, three times. On December 7th it narrowly failed to clinch the “treble”, beaten in the final of the Chinese FA Cup. A revolutionary slogan (“only socialism can save China”) has been reworked on the internet to celebrate the team’s success: “only real estate can save China”.

The team’s route to the top would be familiar to English fans. Evergrande, headed by Xu Jiayin, a billionaire member of the Communist Party, paid $15m for the club. In 2012, it hired Marcello Lippi, a World Cup-winning Italian coach, for $16m a year. The club also procured three South American stars and many Chinese national-team members. Rowan Simons, chairman of China ClubFootball, which promotes the game, says this is just the start of such big spending.

Evergrande’s model may not boost the sport at lower levels, however. Relatively few young people play organised football because of lack of facilities and encouragement. Parents prefer academic success to wasting time on sport.

The recent visit of Britain’s prime minister, David Cameron, brought some assistance. The English Premier League agreed to support a coaching programme that aims to reach more than 1.2m Chinese students by 2016. The initiatives are a good start, says Mr Simons, but a stricter line on match-fixing and more grassroots support will be needed before Chinese football can become world class.

via Football: Keepy uppy | The Economist.

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25/01/2014

BIS – Press Releases – New government support to encourage manufacturing production back to the UK

This initiative will only work if people like Sir James Dyson stop using lack of UK skills as an excuse to offshore.  Fortunately, very recently Sir James has done just that – see – http://www.telegraph.co.uk/finance/newsbysector/industry/engineering/10590729/Sir-James-Dyson-to-create-jobs-for-3000-engineers.html 

See also https://chindia-alert.org/2013/11/03/china-theyll-make-it-cheaper-in-yorkshire-the-sunday-times/

UK Trade & Investment (UKTI) has joined forces with the Manufacturing Advisory Service (MAS) to launch Reshore UK, a new one-stop-shop service to help companies bring production back to the UK.

UK companies are increasingly looking to reshore manufacturing, textiles, software production and call centre work to the UK instead of outsourcing overseas. This is due to the combination of a strong and stable economy, competitive corporate tax rates, a good regulatory environment, strong legal frameworks and a dynamic labour market.

UKTI has identified 1,500 manufacturing jobs reshored in the UK since 2011 and a MAS survey shows companies citing costs, quality and reducing lead times as the top three reasons for moving production back to the UK.

Reshore UK will provide a matching and location service, access to advice and support and a named individual to help each company. MAS’s role is to help support small and medium sized businesses to be globally competitive and to ensure there is capacity in the UK supply chain to take advantage of the reshoring opportunities. UKTI will use its global networks to attract foreign companies to invest.

By joining up the range of support available, the new service Reshore UK will be accessible for both UK and international firms and will ensure that they get the right support, when they need it most. It sees government working in partnership with industry in line with the Industrial Strategy, giving business the confidence to invest, creating more jobs and growth in the UK.

Prime Minister David Cameron who is speaking at the World Economic Forum in Davos this morning said:

English: DAVOS/SWITZERLAND, 29JAN10 - David Ca...

“For years UKTI has played a vital role helping our businesses to export and encouraging inward investment. Now, as part of our long-term economic plan, I also want us to help businesses bring back production to Britain. This new service will offer dedicated support for businesses that want to capitalise on the opportunities of reshoring, creating new jobs and ensuring that hard-working people can reap the benefits of globalisation.””

via BIS – Press Releases – New government support to encourage manufacturing production back to the UK.

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