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Vietnam and India see explosion in direct investment from China as tech suppliers shift production overseas, says Goldman Sachs

Vietnam and India have seen an explosive surge of investment from Chinese companies shifting their production capacity abroad as they try to minimise the affects of the trade war, research by Goldman Sachs has found.“The trade tariffs between the US and China serve as a pressing driver for companies to have part of their production overseas”, said the investment bank’s report issued last Thursday.Cheap labour and land costs are the main driving force behind relocation of factories, but the… Source link

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Vietnam 

Việt Nam gathers opinions on direct power purchase agreement – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Participants at the Public Consultation Workshop on DPPA Design and Pilot Planning for Việt Nam. — Photo World Bank HÀ NỘI — The Ministry of Industry and Trade (MoIT) and the US Embassy on Wednesday introduced a proposal for a Direct Power Purchase Agreement (DPPA) in Việt Nam. This new policy is expected to allow businesses in Việt Nam to procure electricity directly from private firms producing renewable energy and enable them to power their operations with 100 per cent renewable energy. During the development of this innovative mechanism, the…

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Vietnam 

US to approve direct flights from Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Vietnam Airlines, budget airline Vietjet Air and newcomer Bamboo Airways have expressed a desire to fly to the US. — Photo zing.vn Viet Nam News HÀ NỘI — The United States’ Federal Aviation Administration (FAA) is expected to grant a Category 1 rating to Việt Nam soon, allowing its airlines to fly to the US and codeshare with US carriers, according to the Straits Times. National flag carrier Vietnam Airlines, budget airline Vietjet Air and newcomer Bamboo Airways have expressed a desire to fly to the US. There are…

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Vietnam 

Nagoya-Đà Nẵng direct flight set to launch in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A new terminal was opened at Đà Nẵng international Airport to host the increasing number of tourists visiting the city. A new direct flight between Đà Nẵng and Nagoya, Japan will launch later in 2019. — VNS Photo Trần Lê Lâm Viet Nam News ĐÀ NẴNG — The central city’s international airport administration, in co-operation with Chubu Centrair airport, Japan, plans to launch daily direct flights connecting Đà Nẵng and Nagoya later this year. Director of Đà…

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Message platform Slack moves ahead with direct listing plans in the US

Slack Technologies Inc. has filed with regulators to go public in the US without disclosing details of its share-sale plans. The messaging platform company, previously reported to be pursuing a direct listing of its stock, said in a statement Monday that it had submitted a confidential filing with the Securities and Exchange Commission. Slack is working with Goldman Sachs Group Inc., Morgan Stanley and Allen & Co. on the share sale, according to a person familiar with the matter who asked not to be identified because the matter wasn’t public.…

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Dublin to build on popularity among Chinese tourists, wants more direct flights to Hong Kong

Ireland is keen to expand the number of flights between Hong Kong and Dublin this summer, with the aim of attracting more Chinese tourists, Michael D’Arcy, minister of state of the Republic of Ireland’s Finance Department, said in an interview. The Cathay Pacific service to Dublin that started in June 2018 runs four times a week, and D’Arcy is negotiating for an expansion to five or six flights a week. The Hong Kong service is the first between an Asian city and Dublin, followed by Beijing, and has contributed to…

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Tesla’s US$5 billion Gigafactory helps Shanghai record increase in foreign direct investment for 2018

Shanghai, mainland China’s commercial and financial capital, shrugged off the US-China trade war to record an annual increase in foreign direct investment in 2018 – driven in no small part by Tesla’s plan to build its first plant outside the United States in the city’s free-trade zone. Capital committed by investors that will be received in the future, or contracted foreign funds, rose by 16.8 per cent to US$46.9 billion, according to the Shanghai Municipal Statistics Bureau. The foreign funds actually received last year hit US$17.3 billion, up 1.7 per…

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Chinese direct investment in US and Europe falls by 73 per cent to a six-year low as firms face tougher scrutiny

China’s direct investment into North America and Europe fell by almost three quarters in 2018 to a six-year low of US$30 billion, according to international law firm Baker McKenzie. One of the main reasons for the huge drop was the high number of deals that were cancelled or blocked by foreign regulators amid heightened scrutiny of Chinese firms’ acquisitions. Regulators pulled the plug on 21 Chinese takeovers last year, seven in Europe and 14 in North America, worth a combined US$5.5 billion, according to a report released by Baker McKenzie…

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China 

China’s foreign direct investment plunges 27.6 per cent in November on trade war worries

Foreign investment in China fell sharply in November as concerns over the tariff battle between China and the United States hit investor confidence. According to figures released by the Ministry of Commerce on Thursday, foreign direct investment (FDI) in the month fell 27.6 per cent year on year to US$13.6 billion. The slide came despite Beijing making the stabilisation of foreign investment one of its top economic policy priorities. Although even before November, the FDI growth rate had being slowing for the past three months, hitting a four-month low of…

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Prenetics is first Hong Kong firm to take genetic test kit for cancer risk direct to consumers

Prenetics, a Hong Kong-based biotechnology start-up, is about to become the first home-grown company to sell genetic profiling kits that test for the risk of cancer directly to the consumer. Until now the four-year-old company, backed by Alibaba Group Holding, Ping An Insurance Group and Lippo Group, has supplied non-clinical genetic test kits to insurers, who then pass them on as gifts to their policyholders. On Thursday, it will venture into direct sales for the first time via its online platform and health food retailer Green Common’s shops. The kit…

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