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Industry in Asia

  • Tata Steel steers closer to Thyssenkrupp merger deal

    INDIA, 2017/05/18 Tata Steel is one step closer to securing a merger transaction with Thyssenkrupp next agreeing to settle its pension scheme liabilities. Tata Steel has offered £550m ($711m) to the British Steel Pension Scheme (BSPS) on Wednesday (17 May). BSPS will as well acquire a 33% stake in the Indian firm's UK businesses. Tata Steel as well reported an Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) all of £230m for its UK operations for the fourth quarter of 2017, the highest figure since 2008. A additional competitive regional stance, along with an improving sales mix, and additional favourable market conditions were credited for the increase. The figures were released as part of the company's earnings statement on Tuesday.
  • China's top train maker receives order from India

    CHINA, 2017/04/07 An affiliated company under China's top train maker CRRC Corporation has acquired a subway train order from Nagpur, India, the company said Sunday. A total of 69 train coaches will be produced by CRRC Dalian for subway operations in Nagpur, the major city in central India, according to an agreement signed by the company and a local subway company. The trains are for two urban rails in the city with a total length of 38 km.
  • Sumitomo Metal Mining president says company seeking to raise stakes in gold mines

    JAPAN, 2016/11/17 Japan's Sumitomo Metal Mining Co Ltd is seeking an opportunity to boost its holdings in gold mines, with options inclunding taking a stake in projects or the development of mines on its own or through a joint venture, its president said. "We are aggressively seeking stakes in gold mines," President Yoshiaki Nakazato told an analyst conference on Thursday.
  • New cars sales fall in Kazakhstan

    KAZAKHSTAN, 2016/07/24 The official car dealers operating in Kazakhstan sold 21,964 new cars in the initial half of 2016 compared to 53,251 cars in the same period of 2015, Kazakhstan’s Auto Business Association reported. Meanwhile, in June 2016 news car sales increased by 9 % compared to May 2016 to 3,880 cars. Request for the new cars produced in Kazakhstan has been increasing since the beginning of 2016.
  • Support from China for the industrialisation of Angola and Mozambique

    CHINA, 2016/06/04 Support from China for the industrialisation of Angola and Mozambique has been set as an objective on a government level, as large investments in local production capacity, even additional necessary at a time of economic difficulties, are presently expected. The Forum for China-Africa Cooperation (FOCAC) held in December 2015 in Johannesburg set the goal to shift Chinese industries to Africa, a subject that was discussed once again during the recent visit by Mozambican president, Filipe Nyusi, to Beijing, inclunding at the same time as his Angolan counterpart was in Beijing.
  • Africa: China - Africa's Springboard to Industrialisation

    CHINA, 2016/05/10 China is fast proving its mettle on its commitment to helping African nations come out of their situations to occupy world positions of prosperity. While some people on the continent are from presently on to wake up to that reality, the Asian country has a drawn-out vision which augurs well with the developmental aspirations of African nations. That China has emerged as Africa's major trading partner in the last few years is undisputable, with trade reaching $975,92 billion between 2011 and 2015.
  • Make in India Success lies in implementation

    INDIA, 2016/04/07 The government’s flagship ‘Make in India’ initiative encourages foreign companies to manufacture their products in India. If the Make in India Week, which took place in February 2016 in Mumbai, is an indication to go by, launched on September 25, 2014, again the initiative is slowly but surely moving in the right direction. Mumbai was in a frenzy during the Make in India week. The colorful and ubiquitous Make in India logo greeted people everywhere they went. Clearly, the marketing push was bang on the buck – hoardings, advertisements, radio talks, boardroom-to-hotel-lobby conversations, it was all there.
  • Japan All Industry Activity Falls For Second Month

    JAPAN, 2016/02/19 Japan's all industry activity decreased for the second straight month in December, and at a faster-than-expected pace, figures from the Ministry of Economy, Trade and Industry showed Friday. The all industry activity index slid a seasonally adjusted 0.9 % month-over-month in December, exceeding economists' expectations for a 0.3 % drop.
  • Singapore Q4 Domestic Wholesale Trade Falls

    SINGAPORE, 2016/02/19 Singapore's domestic wholesale trade decreased in the three months ended December, though at a slower pace than in the previous quarter, data from the Department of Statistics showed Friday. At current prices, domestic wholesale sales slid 1.1 % quarter-on-quarter in the fourth quarter, following a 8.0 % sharp decline in the preceding quarter. Domestic sales of ship chandlers and bunkering fell the majority by 18.2 %, followed by chemical and chemical products with 8.1 % drop. The decreases were partially due to price decreases of petroleum and chemical products.
  • Airbus to sell three A380 superjumbo jets to Japan's ANA Holdings

    JAPAN, 2016/01/02 European planemaker Airbus (AIR.PA) has won a transaction to sell three A380 superjumbo jets to Japan's biggest carrier ANA Holdings Inc (9202.T) in a transaction valued at about 150 billion yen ($1.25 billion), the Nikkei reported. The planes are to be introduced in fiscal 2018 in routes to Hawaii and elsewhere, the paper said. Orders for Airbus A380s have dried up in recent years reflecting a fundamental shift in the industry toward smaller, twin-engine planes that cost less to fly than the stately, four-engine jumbos, which can carry as a lot of as 525 passengers.