Date
20 July 2019

Industrials

  • Earnings at China’s key manufacturing sector have been declining since November last year, with the exception of March. Photo: Xinhua

    China industrial profits shrink in April amid trade war

    May 27, 2019 12:20pm
    Profits for China’s industrial firms shrank in April as slowing manufacturing activity halted the previous month’s surge, putting more pressure on policymakers to step up support for an economy hit by a bitter trade war with...
  • Chinese companies are increasingly seizing opportunities in the United Arab Emirates in line with the Belt and Road initiative. Photo: Bloomberg

    China’s East Hope eyes US$10 billion investment in UAE

    May 27, 2019 8:06am
    China’s East Hope Group is evaluating plans to invest US$10 billion in an industrial zone in the United Arab Emirates, Reuters reports. Chinese companies are increasingly seizing opportunities in the Gulf, expanding overseas in line with...
  • Neodymium mined in Baotou, China. The country dominates global production of rare earths. Photo: Bloomberg

    Rare earths are no weapon in a trade war

    - May 24, 2019 11:10am
    Rare earth reserves are not a trade war game-changer. Here’s why: 1. There are abundant reserves. The US has several years of its annual consumption in domestic reserves and can also use alternative sources. 2. Most...
  • German Economy Minister Peter Altmaier has called for the development of European battery production for electric cars. Photo: AFP

    The case for intelligent industrial policy

    - May 10, 2019 12:34pm
    Earlier this year, German Economy Minister Peter Altmaier unveiled his “National Industrial Strategy 2030”, which aims to protect German firms against state-subsidized Chinese competitors. The strategy identifies key industrial sectors that will receive special government support,...
  • SK Innovation has been accused of misappropriation of LG Chem's trade secrets pertaining to Lithium-ion batteries for electric vehicles. Photo: Reuters

    LG Chem sues SK Innovation for alleged trade secret theft

    Apr 30, 2019 3:35pm
    Electric vehicle (EV) battery maker LG Chem has sued its South Korean peer SK Innovation in the United States for alleged theft of trade secrets, Reuters reports. LG Chem and its American unit have filed a...
  • Former Nissan Motor chairman Carlos Ghosn is accused of enriching himself at a cost of US$5 million to the company from July 2017 through July 2018. Photo: Bloomberg

    Ex-Nissan boss Ghosn allowed to post US$4.5 million bail

    Apr 25, 2019 11:47am
    Former Nissan Motor chairman Carlos Ghosn looked set to walk out of a Japanese detention center for the second time since his arrest last year on financial misconduct charges, after a Tokyo court on Thursday set...
  • The former GE engineer allegedly stole proprietary data on GE’s turbine technology by secretly embedding the encrypted files into a digital photograph of a sunset before emailing the photograph to his personal email. Photo: AFP

    US accuses pair of stealing secrets, spying on GE to aid China

    Apr 24, 2019 8:26am
    A former engineer and a Chinese businessman have been charged with economic espionage and conspiring to steal trade secrets from General Electric Co to benefit China, Reuters reports, citing an indictment unsealed by the US Justice...
  • Miao Wei, minister of industry and information technology, said China will gradually reduce the government’s micro-management and direct intervention in the manufacturing sector. Photo: CNSA

    China vows to reduce state intervention in industrial sector

    Mar 25, 2019 1:56pm
    China will reduce direct government intervention in its vast industrial sector, the industry minister said on Monday, as Beijing seeks to ease concerns about its industrial policy, core to Washington’s complaints in the Sino-US trade war....
  • Bangladesh is the world’s second-largest garment exporter, after China. Photo: Reuters

    Bangladesh: a new frontier for Hong Kong companies

    - Mar 7, 2019 8:01am
    In a district of northern Bangladesh, Hong Kong entrepreneur Felix Chang employs 18,000 people in four factories making hair products. They account for 90 percent of his company’s revenue, against 10 percent from three plants in...
  • General Electric lost two-thirds of its market value in the last two years amid a series of operational and investment missteps. Photo: AFP

    GE inks US$21 billion biopharma sale to Danaher

    Feb 26, 2019 9:12am
    General Electric said it will sell its biopharma business to Danaher Corp. for US$21.4 billion in the biggest strategy reversal since Lawrence Culp took over as the industrial conglomerate’s chief executive in September, Reuters reports. GE...
  • CMIG had sought to combine state support with the efficiency of private firms to focus on strategic investments in finance, steel, solar energy and shipbuilding. Photo: CMIG

    How China private investment giant CMIG got mired in debt crisis

    - Feb 18, 2019 1:17pm
    China Minsheng Investment Group (CMIG) recently failed to make a bond repayment.  The group was jointly set up by 59 businessmen in 2014. Chinese Premier Li Keqiang attended the signing ceremony back then, underlying the central...
  • Arunachalam Muruganantham and his pad-making machines. Photo: DesignForFreedom/YouTube

    What a Bollywood movie tells us about the economy

    - Jan 18, 2019 6:08pm
    Some are worried that the global economic growth may run out of steam if the world’s largest growth engine, China, shifts to a lower gear.  A recent Bollywood movie, Pad Man, may offer some insight as to...
  • Tesla will save considerable amounts in logistics and production costs when it opens its Shanghai factory. Photo: Reuters

    Why Chinese automakers may not benefit from any US trade deal

    - Jan 9, 2019 5:02pm
    The fresh round of vice-ministerial-level trade talks between US and China had a good start this week. Chinese Vice Premier Liu He made a surprise appearance at the meeting, sending a positive signal and helping lift...
  • China's industrial output rose 5.4 percent year-on-year in November, the slowest in nearly three years as the economy lost further momentum. Photo: AFP

    China consumers, factories feel deepening economic gloom

    Dec 14, 2018 1:16pm
    China’s November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as the economy lost further momentum, heaping pressure on Beijing to defuse its trade dispute...
  • United Technologies Corp. has been under pressure from activist investors to split the sprawling jet engine-to-air conditioner group. Photo: Reuters

    United Technologies to split into three companies

    Nov 27, 2018 8:27am
    United Technologies Corp. said it will separate into three companies consisting of its aerospace unit, Otis elevators division and its Carrier air-conditioning business, Reuters reports. The company has been under pressure from activist investors to split...
  • Johnson Controls’ power solutions business makes and distributes about 154 million lead-acid batteries for passenger cars and light trucks annually. Photo: Reuters

    Johnson Controls sells power business for US$13.2 billion

    Nov 14, 2018 9:20am
    Johnson Controls International Plc said it will sell its power solutions business, which makes car batteries, to investment firm Brookfield Business Partners LP, in a cash deal valued at US$13.2 billion. Shares of Johnson Controls were...
  • Shenzhen skyline: US companies operating in China believe they are suffering more from the trade dispute than firms from other countries, a survey finds. Photo: Xinhua

    Many US firms in China plan to relocate as trade war bites: poll

    Oct 30, 2018 9:03am
    More than 70 percent of US firms operating in southern China are considering delaying further investment there and moving some or all of their manufacturing to other countries as the trade war bites into profits, Reuters...
  • Tariff moves by the US on steel and aluminum constitute an act of protectionism that seriously undermines multinational trade rules, China says. Photo: Reuters

    China seeks WTO panel to discuss US steel, aluminum tariffs

    Oct 19, 2018 9:09am
    China has asked the World Trade Organization (WTO) to establish an expert group to determine the legality of tariffs imposed by the United States on steel and aluminum, Reuters reports. China’s commerce ministry was quoted as...
  • HNA is under pressure to cut its huge debt and restructure after a US$50 billion acquisition spree in recent years. Photo: Bloomberg

    HNA lists property assets worth US$11 billion for sale

    Oct 10, 2018 9:58am
    Chinese conglomerate HNA Group has put up for sale property assets worth at least US$11 billion, according to documents seen by Reuters, accelerating a push to cut its large debt and restructure. Two sets of documents...
  • Under the General Data Protection Regulation, EU regulators have the power to impose fines of up to 4 percent of global revenue or 20 million euros (US$23 million), whichever is higher, for violations. Photo: Reuters

    First round of fines under new EU privacy law seen by year-end

    Oct 10, 2018 8:45am
    European regulators are set to exercise their new powers by handing out fines and even temporary bans on companies that breach a new EU privacy law, with the first round of sanctions expected by the end...

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