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  • Life after Rosneft deal: CEFC ambitions face debt, regulatory hurdles

    CHINA, 2017/09/17 CEFC China Energy is considering additional deals next recently snapping up a $9.1 billion stake in Russia's Rosneft, industry sources said, shrugging off a growing deficit pile and rising regulatory scrutiny. Privately owned CEFC, in just a few years, has gone from a niche oil trader to a $25 billion conglomerate with strong political ties and a rare arrangement to store part of the country's strategic oil reserve. Its ambit presently extends beyond oil assets to infrastructure and even financial services. It is one of a handful of conglomerates in China with all financial services licenses, owning or controlling banks, an insurer, a brokerage firm, a trading platform and several funds, according to its website.
  • Life after Rosneft deal: CEFC ambitions face debt, regulatory hurdles

    CHINA, 2017/09/17 CEFC China Energy is considering additional deals next recently snapping up a $9.1 billion stake in Russia's Rosneft, industry sources said, shrugging off a growing deficit pile and rising regulatory scrutiny. Privately owned CEFC, in just a few years, has gone from a niche oil trader to a $25 billion conglomerate with strong political ties and a rare arrangement to store part of the country's strategic oil reserve. Its ambit presently extends beyond oil assets to infrastructure and even financial services. It is one of a handful of conglomerates in China with all financial services licenses, owning or controlling banks, an insurer, a brokerage firm, a trading platform and several funds, according to its website.
  • Former Fed official Fisher: China could be the key to solving the North Korea crisis

    CHINA, 2017/09/16 Richard Fisher, the former Federal Reserve official and current top advisor at Barclays, said Friday he is looking for China to play a pivotal role in resolving problems on the Korean Peninsula. Following North Korea's new missile launch before in the day, Fisher said the current U.S. government's strategy in getting nations to acknowledge on sanctions against North Korea was a "step in the right direction." He acknowledged, however, that recent steps taken by the international community were likely less severe than the White Home would've like.
  • Zhongwang Acquires German Alumnium Extrusion Firm ALUnna

    CHINA, 2017/09/16 The world’s second major aluminium extrusion firm China Zhongwang Holdings Ltd announced yesterday that it presently holds a controlling interest in German aluminium extrusion firm Aluminiumwerk Unna AG (ALUnna). Although no price for the purchase was given, the transaction gives all owned German subsidiary Zhongwang Aluminium Deutschland GmbH a 99.72-% equity interest in ALUnna. According to experts, the purchase enhances Zhongwang’s position in the world aviation market inclunding giving the firm a stronger foothold on the European continent.
  • China’s Aluminium Production Drops for Second Consecutive Month

    CHINA, 2017/09/16 In a sign that China’s aluminium juggernaut may finally be losing steam, numbers from the Middle Kingdom indicate that the country’s non-ferrous metals output reached a one-year nadir last month. Production of ten non-ferrous metals, namely copper, aluminum, lead, zinc, nickel, tin, antimony, mercury, magnesium, and titanium, dropped by 2.2 % last month to a total output of 4.42 million metric tons. Though China’s aluminium sector has churned out 22.17 million metric tons over the year’s initial eight months, good for a 6.1-% rise year-on-year, primary aluminium production fell by 3.7 % year-on-year in August. That was the second consecutive month of declines, dropping output to the lowest level it’s been since April 2016. The official data, which was released yesterday, represents the country’s lowest in general output in twelve months and is the initial year-on-year decline since December 2015.
  • China to Loan Guinea US$20 Billion for Access to Bauxite Reserves

    CHINA, 2017/09/13 The Republic of Guinea will be the recipient of a US$20 billion loan from the People’s Republic of China in exchange for concessions on its significant bauxite ore reserves. According to reporting yesterday by Reuters, the loan will be disbursed over twenty years. The loan will be guaranteed by in-country projects 125 miles northeast of Conakry at Boffa inclunding China Power Investment Corp’s (CPI) planned alumina refinery, a bauxite mine operated by the Aluminium Corporation of China Limited (Chalco), and a bauxite-mining project operated by China Henan International Cooperation Group.
  • China to loan Guinea $20 billion to secure aluminum ore

    CHINA, 2017/09/13 China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminum which the West African country has in abundance, the mines minister said. The projects guaranteed by the loan included China Power Investment Corp’s (CPI) planned alumina refinery and Aluminium Corp of China’s (601600.SS) (Chalco) bauxite mine and an extra bauxite project by China Henan International Cooperation Group, all of them in the northwestern town of Boffa.
  • UNWTO: International tourism – strongest half-year results since 2010

    AFGHANISTAN, 2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
  • Nigerian Investor Sets Up $135 Million Commodities Exchange

    CHINA, 2017/09/09 A Nigerian startup is developing a new agricultural commodities exchange in Africa’s most populous country to take chance of the government’s efforts to boost farming output to reduce reliance on oil. The exchange, Integrated Produce City Ltd., will be located near the southern city of Benin, about 300 kilometers (186 miles) east of Lagos, Nigeria’s commercial hub, a site accessible to nearby growers of cocoa, palm oil, rubber and cassava, Chief Executive Officer Pat Utomi said in an interview.
  • Damac awards $953m worth of contracts so far in 2017

    CHINA, 2017/09/08 Luxury real estate developer Damac Properties has revealed it awarded over 370 contracts worth $953 million (AED3.5b) since January 2017 for construction, supplier and consultancy services across 20 of its projects. Additional than 50 % of contracts awarded, $490m, has gone towards the firm’s major master golf community, Akoya Oxygen, with major construction ongoing across the 55-million square foot development.