25 March 2017

Industrials and Utilities

  • Chery said it has been using the name "eQ" for its two-door battery electric car over the past two years. Photo: Reuters

    China’s Chery files trademark complaint against Mercedes-Benz

    Mar 24, 2017 8:26am
    Chinese automaker Chery Automobile Co. Ltd. has filed a complaint with the country’s trademark regulator over Mercedes-Benz’s use of the “EQ” name for a line of green-energy vehicles. The move could pose a potential road block...
  • Sinopec said the assets it acquired from Chevron include a 100,000 barrel-per-day oil refinery in Cape Town, South Africa. Photo: Bloomberg

    Sinopec to pay US$1 bln for Chevron oil assets in Africa

    Mar 23, 2017 7:46am
    China’s Sinopec (00386.HK, 600028.CN) will pay almost US$1 billion for a 75 percent stake in Chevron Corp’s South African assets and its subsidiary in Botswana to secure its first major refinery in Africa. China Petroleum and...
  • At the results announcement, Cathay Pacific chairman John Slosar emphasized how difficult things are and spoke of the need for economies.
Photo: Bloomberg

    Has Cathay Pacific lost its mojo?

    - Mar 17, 2017 4:14pm
    What on earth is going on at Cathay Pacific Airways? Once a much loved iconic Hong Kong company, it is now facing criticism from a growing number of its customers and is shrouded in a feeling...
  • Elon Musk outlines his plans to colonize Mars. Musk's business interests span from Tesla to solar power and space exploration.  Photo: Bloomberg

    Young Hongkongers should dream big

    - Mar 15, 2017 3:41pm
    Many people have rushed to buy Tesla’s newly released Model X before the first registration tax waiver for e-cars ends in March. Tesla chief executive Elon Musk once described Hong Kong as a “beacon city for...
  • Geely Automobile has taken its brand and technology to a new level following the acquisition of Volvo in 2010. Photo: Bloomberg

    China automakers: A report card for Jan-Feb

    Mar 14, 2017 4:13pm
    China’s vehicle sales rose 8.8 percent in the first two months of 2017 compared to the same period last year, according to the China Association of Automobile Manufacturers (CAAM). In the month of February, sales rose...
  • Following feedback from the industry, China may revise the targets for production of new energy vehicles. Photo: Bloomberg

    China may ease electric car quotas and targets: report

    Mar 14, 2017 10:55am
    China may ease proposed quotas and targets related to electric vehicles, responding to feedback from automakers which were concerned about the scale and pace of the plans, Reuters reports. Proposed changes under discussion could see a...
  • Exxon Mobil says its investments in 11 sites will create about 35,000 temporary construction jobs and 12,000 permanent jobs. Photo: Reuters

    Exxon to invest US$20 bln on US Gulf Coast refining projects

    Mar 7, 2017 8:11am
    Exxon Mobil Corp., the world’s largest publicly traded oil producer, will invest US$20 billion through 2022 to expand its chemical and oil refining plants on the US Gulf Coast, Reuters reports. The investments at 11 sites...
  • SF Holdings founder Wang Wei (right) gave out generous bonuses to staff to celebrate the company's listing. Photo: Jianshu

    What’s the secret behind SF Holding’s share surge?

    - Mar 6, 2017 11:50am
    Shares of China’s leading express delivery firm SF Holding (002352.CN) surged after its backdoor listing last month, catapulting its founder Wang Wei to number two spot on the country’s rich list. While there is no doubt...
  • Uber has admitted to deploying a program to help the firm sidestep authorities in cities where its service was banned or faced resistance. Photo: Bloomberg

    Uber used secret ‘Greyball’ tool to evade authorities

    Mar 6, 2017 8:40am
    Uber Technologies has confirmed that it used a secret tool for many years to avoid authorities in markets where its ride hailing service faced resistance or was banned. The company admitted that it deployed a program...
  • Blue Origin’s reusable New Shepard space vehicle ascends near Van Horn, Texas. Blue Origin is expected to announce new initiatives and customers. Photo: WSJ

    Bezos to unveil further plans for private space exploration

    Mar 6, 2017 8:31am
    The burgeoning space-transportation company owned by Inc. chairman Jeff Bezos this week is expected to announce some customers and new initiatives. It is the latest step toward its long-term goal of building rockets powerful enough...
  • Buyers of this Tesla model and other electric cars will now have to shoulder 80 percent of the tax payable. Photo: HKEJ

    Tesla falls victim to Paul Chan’s budget

    - Feb 23, 2017 2:49pm
    Former financial secretary Antony Leung used to love Lexus, but Paul Chan, the latest official to succeed him in the post, apparently has no regard for Tesla. That is perhaps why in his first (and possibly last) budget,...
  • A wheel of a prototype of the Tesla Model 3 is shown on display at a factory in Nevada. Tesla says the Model 3 will be ready for volume production by September. Photo: Reuters

    Tesla Model 3 on course for volume production by September

    Feb 23, 2017 8:03am
    Tesla Inc. says its mass-market Model 3 sedan is on track for volume production by September, relieving investors who see the electric vehicle as the avenue to profitability for the young company. But the carmaker’s operations...
  • Chevron and Zhenhua Oil signed a preliminary pact in January and are trying to complete the deal by June. Photo: Reuters

    China state firm in deal to buy Chevron’s Bangladesh gas fields

    Feb 23, 2017 7:53am
    China’s state-run Zhenhua Oil has signed a preliminary agreement with Chevron to buy the US oil major’s natural gas fields in Bangladesh worth about US$2 billion, Reuters reports. Zhenhua is a subsidiary of China’s defense industry...
  • Mohammed Barkindo says he believes that "what is good for OPEC is good for the US". Photo: Bloomberg

    OPEC chief seeks energy dialogue amid surge in US shale output

    Feb 22, 2017 9:24am
    OPEC’s top official has sought to allay speculation that a surge in US shale output could impact the oil cartel’s agreement to cut oil production. Addressing an oil conference in London Tuesday, OPEC Secretary-General Mohammed Barkindo...
  • PetroChina's parent, China National Petroleum Corp, is among the winners of stakes in Abu Dhabi's largest oil concession. Photo: Bloomberg

    Chinese firms grab 12% stake in Abu Dhabi oil project

    Feb 21, 2017 3:14pm
    Chinese firms have emerged as big winners in the contest among foreign bidders for stakes in Abu Dhabi’s largest oil concession, grabbing a combined 12 percent of the venture. Bloomberg reports that Abu Dhabi National Oil Co. the...
  • Steel price recovery has shored up the bottom lines of Chinese steel mills, but it is adding to a structural problem within the industry.

    Don’t get over-excited about steel price rebound

    - Feb 17, 2017 3:57pm
    Commodity prices have rebounded as investors expect global economic growth to pick up steam. China’s iron ore price index surged nearly 90 percent in past one year and prices of steel products have also jumped. The...
  • The logos of General Motors' Opel and Peugeot. Acquiring GM's Opel and Vauxhall brands would give PSA a 16.3 percent share of the European passenger car market. Photo: Reuters

    GM in talks to sell European auto business to Peugeot

    Feb 15, 2017 8:39am
    General Motors Co. and French automaker PSA Group are in talks that could result in PSA buying GM’s European auto operations, the two companies said. For PSA, owner of the Peugeot, Citroen and DS brands, acquiring...
  • Toshiba's 190,000 workers, employed at some 500 units, likely will make it too big to fail but it could face protracted pain. Photo: Reuters

    Toshiba to report US$6 bln writedown amid nuke cost overruns

    Feb 13, 2017 8:40am
    Toshiba Corp. will detail a writedown of close to US$6 billion after bruising cost overruns at its US nuclear arm, turning investor attention to the Japanese group’s efforts to fix that and other balance sheet headaches....
  • Saudi Arabia will build 300 megawatts of solar plants in the al-Jouf area in northern Saudi Arabia and 400 megawatts of wind projects in nearby Tabuk. Photo: Internet

    Saudis plan world’s cheapest power with solar and wind

    Feb 2, 2017 8:32am
    Saudi Arabia will award its first tender to build 700 megawatts of solar and wind energy in September, with the cost of power forecast to be the lowest in the world, Bloomberg reports. OPEC’s biggest oil...
  • Journalists gather around a Faraday Future vehicle in Las Vegas. The start-up company says its operations are overextended. Photo: Reuters

    China-backed Faraday Future scales back US plans

    Feb 2, 2017 7:55am
    Electric luxury car start-up Faraday Future, one of several Chinese-funded companies taking aim at Elon Musk’s Tesla Inc., is throttling back on plans to build vehicles in the United States, Reuters reports. Faraday, an affiliate of...

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