Posts tagged ‘Israel’

08/04/2015

China Life, Ping An take majority stake in $500 million Boston property project | Reuters

China’s two biggest insurers are funding the majority of a $500 million commercial real estate project in the United States, a person with knowledge of the deal said, in the latest offshore property investment by China’s cash-rich financial institutions.

China Life Insurance Co Ltd (601628.SS)(2628.HK) and Ping An Insurance Group Co of China Ltd (601318.SS)(2318.HK) have partnered New York developer Tishman Speyer Properties LP in a deal that will see each party invest about $167 million in the first phase redevelopment of Boston‘s Pier 4, the person said.

Tishman Speyer declined to provide immediate comment, while China Life declined to comment and Ping An could not be reached. The Wall Street Journal reported the tie-up early on Wednesday.

Chinese insurers have been on a shopping spree over the past three years since a ban on foreign property investment was lifted. They are permitted to invest abroad up to 15 percent of their roughly 10.5 trillion yuan ($1.69 trillion) in assets.

China Life and Ping An have invested in property in London, and Boston would be their first project in the United States.

via China Life, Ping An take majority stake in $500 million Boston property project | Reuters.

20/01/2015

Obama’s Seven Habits for a Highly Successful India Visit – India Real Time – WSJ

U.S. President Barack Obama’s upcoming visit to India won’t be his first trip to the country.

Mr. Obama and the First Lady last swept through Delhi and Mumbai in November 2010 in a carefully- choreographed charm offensive, addressing sensitive issues such as Pakistan and the U.N. Security Council, while finding time to dance at a high school and speak a bit of Hindi.

Much has changed in India since Mr. Obama last arrived on its shores: the government, the prime minister, the number of international coffee and burger chains. Many things haven’t altered however and by the time he leaves next week, the president will be something of an old hand in the world’s largest democracy. By visiting a second time, he becomes the only serving U.S. president to have made two official trips to India.

1. Back a Bid

India has for years coveted a permanent seat on the United Nations Security Council. In Mr. Obama’s 2010 visit, he used a speech to the Indian Parliament  to back the country’s inclusion “in the years to come” as a permanent member of the council with power of veto.

2. Tread Carefully on Pakistan

Any world leader visiting India must choose their words on the country’s rival Pakistan carefully.  In the same speech to the Indian Parliament, Mr Obama said the U.S. insisted Pakistan limit terrorist-safe havens within its borders, adding: “We must also recognize that all of us have an interest in both an Afghanistan and a Pakistan that is stable, prosperous and democratic—and none more so than India.”

3. Make a Trade Announcement…

Mr. Obama was in Mumbai when he announced a loosening of restrictions on U.S. exports to India. The move was aimed at making it easier for U.S. companies to export technology for military and non-military use after the U.S. imposed controls on trade with India in dual-use technologies — items that have both military and peaceful purposes – after India’s nuclear-weapons tests in 1998.

The president said: “We’re taking the necessary steps to strengthen this relationship.”

4. …And Ask for Something Back

Mr. Obama asked India to reduce barriers in sectors such as agriculture, retail and telecommunications to promote trade. “In a global economy, new growth and jobs flow to countries that lower barriers to trade and investment,” he said.

U.S. President Barack Obama and Indian Prime Minister Manmohan Singh, embrace following a joint statement and press conference at Hyderabad House in New Delhi, India, Nov. 8, 2010. Associated Press

5. Work on Chemistry

Ahead of the 2010 meeting, both Mr. Obama and then-Indian Prime Minister Manmohan Singh echoed each other’s language on the relationship between their two countries. “I think the India-United States relationship has entered a new phase,” Mr. Singh said before Mr. Obama’s visit.

6. Pick Your Battles

There was much speculation that Mr. Obama would touch on the issue of the outsourcing of U.S. jobs to India during his 2010 visit. In the end, he deftly sidestepped the issue in the name of healthy competition:

“There are many Americans whose only experience with trade and globalization has been a shuttered factory or a job that was shipped overseas,” he said, adding that many Americans still had a “caricature” of India as a place with call centers where U.S. jobs have been outsourced.

On another touchy subject, Kashmir, Mr. Obama let Mr. Singh do the talking. Mr. Singh said he wanted to reduce tensions with Pakistan, including over Kashmir, but could not do so unless Islamabad cracked down on terrorism.

U.S. President Barack Obama bows as he arrives to deliver a speech at Parliament House in New Delhi Nov. 8, 2010. Agence France-Presse/Getty Images

7. Visit the Right Places, Wear the Right Things, Use the Local Lingo

Photogenic India provided Mr. and Mrs. Obama with ample visual material. Mrs. Obama gamely joined children dancing at a high school in Mumbai, eventually persuading the president to join her. She also took part in a game of hopscotch and urged students at a college in Mumbai to “keep dreaming big huge, gigantic dreams–for your community and for your world.”

Perhaps the most arduous part of the visit of any dignitary to another country is avoiding any faux pas, embarrassing photographs or poor sartorial choices.

Mr. Obama’s staff carefully chose Humayun’s tomb in New Delhi as an appropriate tourist destination for the president.

Meanwhile, Michelle Obama’s outfits were carefully scrutinized for any embarrassing mistakes – which she seemed to avoid.

Mr. Obama rounded off the whirlwind tour with the crowd-pleasing cry in Hindi of ‘jai hind!’, or ‘hail India!’ at the end of his speech to the Indian Parliament.

via Obama’s Seven Habits for a Highly Successful India Visit – India Real Time – WSJ.

22/05/2014

China’s Bright Food to buy control of Israel’s largest food company | Reuters

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

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.

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09/05/2013

* China Dips a Toe Into Mideast Diplomacy

For the first time, China is taking its role as a world leader in international politics, rather than staying in the background.

NY Times: “China took a modest step into Middle East diplomacy this week, hosting back-to-back visits from Mahmoud Abbas, the leader of the Palestinian Authority, and Prime Minister Benjamin Netanyahu of Israel.

But this was not exactly Camp David by the Forbidden City.

The fact that the visits were timed so the two leaders would not meet — Mr. Abbas left Beijing on Tuesday, and Mr. Netanyahu arrived Wednesday after a swing through Shanghai — signaled that neither they nor Xi Jinping, China’s leader, were ready for actual talks. But Mr. Xi did present a four-point peace proposal to Mr. Abbas, which, though it did not contain any breakthrough ideas, hinted that China had given some thought to playing a more energetic, if very limited, role as mediator in one of the world’s most protracted conflicts.

“As China’s economy, national strength and international status grow, Arab countries are looking more to China,” said Guo Xiangang, a vice president of the China Institute of International Studies in Beijing who follows China’s relations with Middle Eastern nations. “The expectations they place on China are growing.”

In their meeting on Wednesday afternoon, Prime Minister Li Keqiang of China told Mr. Netanyahu that “the Palestinian issue is a core issue affecting the peace and stability of the Middle East, and a peaceful solution reached through dialogue and negotiations is the only effective answer,” according to Xinhua, the state news agency.

“As a friend of both Israel and the Palestinians, China has always maintained an objective and fair stance, and is willing to strive together with all sides to actively advance the Middle East peace process,” Mr. Li said.

China has been careful to take a clear and consistent but not strong stand on the Israeli-Palestinian issue. China has growing trade ties with Israel — the value of their trade relationship has been estimated in official Chinese news reports to be nearly $10 billion a year — but it supports Palestinian statehood and relies on crude oil imports from Iran and Arab nations to meet its energy needs. About half of China’s oil imports come from the Middle East, and that dependency is expected to deepen.

The core of the four-point plan that Mr. Xi presented to Mr. Abbas was the establishment of a Palestinian state alongside Israel, based on the 1967 boundaries and with East Jerusalem as its capital. The plan was a formal version of China’s traditional stand on the conflict.

At the United Nations, where China sits on the Security Council, Mr. Abbas has pushed for greater status for the Palestinians, which has drawn economic reprisals from Israel and has led to a reduction in donations from foreign supporters. On Tuesday, the Chinese Foreign Ministry spokeswoman, Hua Chunying, said at a news conference that Israel had to halt the building of settlements in East Jerusalem and the West Bank, stop violence against innocent civilians and end the blockade against the Gaza Strip to clear the way for peace talks.

But China’s measured stand on the conflict was evident in some of Mr. Xi’s comments during his meeting with Mr. Abbas. “Israel’s right to exist and its reasonable security concerns should be fully respected,” Mr. Xi said, according to a report by Xinhua.”

via China Dips a Toe Into Mideast Diplomacy – NYTimes.com.

06/05/2013

* Abbas and Netanyahu on separate China visits

China, the new peace-maker.

BBC: “Palestinian leader Mahmoud Abbas and Israeli Prime Minister Benjamin Netanyahu are in China for separate talks with top officials.

Palestinian leader Mahmoud Abbas (left) and Chinese President Xi Jinping (06/05/13)

Mr Abbas, who met President Xi Jinping in Beijing on Monday, said he would explain obstacles to talks with Israel.

Mr Netanyahu, who is visiting Shanghai before flying to Beijing later this week, was due to sign trade deals and discuss the issue of Iran.

The two men are not expected to meet while they are in China.

China would assist if they wanted to, a foreign ministry official said, but the two leaders were not expected to be in the same city at the same time.

Mr Abbas, who arrived in Beijing on Sunday, signed agreements on technical co-operation and cultural exchange with Mr Xi on Monday. The Palestinian leader was also expected to meet Premier Li Keqiang during his visit.

Speaking to Xinhua news agency ahead of the visit, he said he would update Chinese leaders on “what are the obstacles that block” dialogue with Israel, and would ask Beijing “to use its relationship with Israel to remove the obstacles that obstruct the Palestinian economy”.

Xinhua quoted him as saying: “It is very good that Netanyahu will visit China too because it is a good opportunity that the Chinese listen to both of us.”

Mr Netanyahu’s visit is the first to China by an Israeli leader in six years.

He was expected to meet business delegates in Shanghai before heading to Beijing. Israeli officials say he is expected to sign a number of trade deals.

He is also expected to raise the issue of Iran, which many nations including Israel believe is trying to build nuclear weapons – something Iran denies.

Beijing is one of the biggest buyers of Iranian oil, and has opposed unilateral Western sanctions on Tehran.

“China and Israel have both much to gain from enhanced co-operation, and that’s our goal,” Mr Netanyahu’s spokesman Mark Regev told AFP news agency.”

via BBC News – Abbas and Netanyahu on separate China visits.

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