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Sinopec Engineering, tasked to deliver on Beijing’s Belt and Road Initiative, thinks it can win Bangladesh project

Sinopec Engineering (Group), a key implementer of China’s Belt and Road Initiative, is confident it can win a bid to expand an oil refinery in Bangladesh, according to its president.“In Bangladesh, we have made relatively concrete progress on a refinery expansion project,” presidentXiang Wenwu told reporters on Monday. “It is at the final tender negotiation stage and we have a relatively good chance of winning the bid.”He would not provide details.India’s The Financial Express newspaper… Source link

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Global fund managers expanding in Hong Kong with eye on Greater Bay Area and Belt and Road Initiative

International fund companies are unfazed by the protests that have wracked Hong Kong for more than a month, focusing instead on the potential of the Greater Bay Area and the Belt and Road Initiative.US fund manager Federated Investors, with US$485 billion worth of assets under management as well as its 60 per cent owned British fund house Hermes Investment Management, both plan to continue to expand in Hong Kong as part of their long-term strategy in Asia.Hong Kong has seen many protests since… Source link

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Vietnam 

Airlines need to take the initiative in human resources, says transport ministry official – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Việt Nam is considered one of the fastest-growing aviation markets. The domestic market, including Vietnam Airlines, Jetstar Pacific, Vietjet Air, Bamboo Airways and Vasco, has witnessed the newest name Vinpearl Air, a member of Vingroup. The development of the aviation industry will require human resources and infrastructure. Deputy Minister of Transport Lê Đình Thọ yesterday spoke with Vietnam News Agency about the sector. How can airlines deal with the shortage of human resources? The appearance of new airlines in recent years has increased competition in Việt Nam’s…

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Opinion | How China’s Belt and Road Initiative could lead Vietnam away from renewable energy and towards coal

A a child on a Saigon waterbus brandishes a pinwheel as he passes Landmark 81, Vietnam’s tallest building, in Ho Chi Minh City on June 6. While Vietnam has enormous potential for wind and solar power generation, funding for coal-power electricity plants under China’s Belt and Road Initiative could derail its renewable energy push. Photo: Reuters Source link

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China 

Greater Bay Area initiative drives foreign investment in Guangzhou and Shenzhen real estate

Foreign investment in Guangzhou and Shenzhen real estate, two core cities in Beijing’s Greater Bay Area scheme, hit 7.5 billion yuan (US$1.09 billion) in the first quarter of the year, up by nearly half from the 5.2 billion yuan seen in all of 2018. According to the latest report from property consultancy Cushman & Wakefield, foreign investment in the two cities accounted for 33 per cent of the 22.7 billion yuan invested in the two cities in the first quarter. “The GBA initiative has really… Source link

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Turning China’s Belt and Road Initiative into a new cold war weapon by the US is deeply frustrating

Don’t bother to try calling any of Hong Kong’s big business bosses at home this week – they are all away in Beijing, paying homage to the miracle that is Belt and Road, along with over 40 foreign leaders and 5,000 business leaders from 150 countries worldwide.Conspicuously absent will be anyone senior from the US, as “new cold war” evangelists like Mike Pompeo, John Bolton, Mike Pence and even the footloose Steve Bannon continue to fulminate against what they see as a not-very-subtle Chinese… Source link

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Unfazed by trade war, Google collaborates with Huawei on health care AI initiative

When Huawei Technologies announced its latest smartphone last week, the world’s largest telecommunications equipment maker also shared another product. Track AI promises to pair software with Huawei devices to let “non-trained professionals” diagnose eye conditions.Missing from the Chinese company’s announcement was Google’s work behind the scenes.Huawei built Track AI using TensorFlow, a set of artificial intelligence software tools from Alphabet’s Google. TensorFlow is also open-source, so… Source link

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China’s institutions and banks need help from the world’s civil society to ensure the Belt and Road Initiative remains green

Activists of 12 countries conducted rallies in London, Hong Kong and Nairobi last week to protest financing by Bank of China to build the Batang Toru Dam in Indonesia’s North Sumatra, due to its catastrophic impact on communities and biodiversity.If built, scientists say that the dam will doom the Tapanuli orangutan, which was only discovered in 2017, almost to certain extinction. It would also impoverish downstream communities who rely on the natural flow of the river for their livelihood.With… Source link

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China’s Belt and Road Initiative is here to stay, whether the US likes it or not

A headline in this newspaper just a week ago said it all: “Dim future seen for Belt and Road programme”. It is in vogue to portray China’s ambitious infrastructure-focused plan, embracing at least 80 countries, as a strategy in trouble. As some would have it, the Belt and Road Initiative’s project stream has dried to a trickle as countries have wised up to the danger of debt traps and threats to sovereignty. They are turning their backs on opaquely structured projects that serve China’s interests far more than those of…

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Global 

China’s Belt and Road Initiative will add US$117 billion to global trade this year, a new study shows

Merchandise trade between China and the countries targeted by its Belt and Road Initiative is predicted to grow by US$117 billion this year, according to new analysis. For China, this will mean US$56 billion in additional exports, while it will import an extra US$61 billion worth of goods from the 80 countries named in the Chinese government’s official manifesto, research from trade credit insurer Euler Hermes shows. The report estimates that this will add 0.3 per cent to global trade and 0.1 per cent to global growth, at a time…

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