Posts tagged ‘Walmart’

05/08/2016

Bridge Collapse Is Latest Tragedy on India’s Roads – India Real Time – WSJ

The collapse of a bridge in the western Indian state of Maharashtra this week that left 14 people dead and 18 others missing wasn’t the first road tragedy to hit the area.In 2013, a bus veered off a 80 year-old bridge on the Jagbudi river, which flows parallel to the Savitri about 70 kilometers (43 miles) to the south, killing 37 of the 52 people on board.

That accident happened when a bus flew off the bridge and flipped in midair before landing on its roof 30 feet below.

The Wall Street Journal took a deep look into the tragedy.

Such incidents are alarmingly frequent on India’s roads.

India has been spending more money to improve its bridges, ports and airports, but the Savitri accident is yet another example of how the country’s depleted infrastructure is under increasing strain due to the rising demands of a fast-developing economy.

Its ageing road network, the world’s second-largest after the U.S. but largely made of dirt tracks, is particularly challenging. India’s roads are the most dangerous in the world: In 2015, the country accounted for almost one in 10 road casualties world-wide, according to the World Health Organization.

While India reported 137,000 deaths due to road crashes in 2013, the WHO estimated the figure was much higher. Those deaths cause an approximate 3% loss in economic output, it said.

Two buses and a number of cars plunged into the Savitri river in the early hours of Wednesday when the bridge in Mahad, built before India gained independence from Britain in 1947, crumbled into the waters below amid heavy monsoon rains.

Maharashtra Chief Minister Devendra Fadnavis has ordered a judicial probe into the accident and said government technicians will carry out a safety audit of old bridges in the state.

The bodies of 14 people were recovered from the waters of the Savitri by Friday morning, and 18 more are missing, National Disaster Response Force Commandant Anupam Srivastava said.

Source: Bridge Collapse Is Latest Tragedy on India’s Roads – India Real Time – WSJ

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25/07/2016

More Than 100 Chinese Firms on Global Fortune 500, but Not Alibaba – China Real Time Report – WSJ

More than 100 Chinese companies made the Fortune Global 500 list this year, with the U.S. the only country with more names on the list.

China power giant State Grid jumped from seventh place last year to the No. 2 spot, after Wal-Mart Stores Inc., followed by oil giants China National Petroleum Corp. and Sinopec Group, in third and fourth place, respectively.

Dubbed “the world’s most profitable lender,” Industrial & Commercial Bank of China–China’s biggest bank by assets–was No. 15 on the list, up from 18th last year even after a year of nearly flat profit.

Among the 13 Chinese companies that made their debuts on the list were three home builders: China Vanke Co.(356th), Dalian Wanda Group (385th) and Evergrande Real Estate Group (496th), which all benefited from the property-market recovery in China last year after the government loosened restrictions on home purchases.

Ranked at 366th, China’s second-largest online retailer, JD.com Inc., also entered the list for the first time.

One notable absence: China’s perhaps most famous company, e-commerce giant Alibaba Group Holding Ltd., which as an online platform doesn’t have massive revenue, the basis for the list’s rankings.Investors and analysts have focused on a different metric to chart its growth — gross merchandise volume, or the total value of third-party sellers’ transactions on its platforms — because it shows how fast an e-commerce company is growing relative to competitors.

Earlier this year, Alibaba said that transaction volume on its sites hit 3 trillion yuan ($463 billion) in the fiscal year ended in March, which it said meant that by that measure it had overtaken Wal-Mart to become the world’s biggest retail network.

Source: More Than 100 Chinese Firms on Global Fortune 500, but Not Alibaba – China Real Time Report – WSJ

15/11/2015

In ‘Milestone’ Move, GM to Sell Chinese-Made Cars in U.S. – China Real Time Report – WSJ

Yale Zhang, the head of Shanghai-based consultancy Automotive Foresight, called the export of the Buick Envision SUV from China to the U.S. a “landmark.”

“It means that China’s manufacturing quality has met the requirements of the world’s strictest market,” he said.

GM introduced the Buick Envision SUV in China last October. Since then, it has been one of the best-selling cars sold by GM in the country. According to the China Association of Automobile Manufacturers, a government-backed industry group, the Envision ranked seventh in China’s fast-growing SUV market in October, with monthly sales of 17,300 vehicles. Data from Automotive Foresight show that sales of Buick Envision SUVs totaled 100,826 cars in the period from January to September.

Despite the progress, experts say that Chinese home-grown car manufacturers will continue struggling to com