Great Britain

MNCs in the News-2018-06-08

China’s Ministry of Commerce (MOFCOM) announces two new negative lists will be put forth by end of June. China’s State Administration of Market Regulation probes foreign chipmakers because of concerns about rising memory chip prices. In response to charges regarding the debt burdens on participant countries flowing from the Belt and Road Initiative (BRI), China’s MOFCOM denies forcing projects on anyone and touts the benefits of its BRI. Development of controversial Chinese development around Sri Lanka’s Hambantota port progresses with selection of planning consultancy. British government and Hitachi agree to begin full-scale negotiations on potential construction of nuclear power plant in Wales after settling on cost sharing. Japan to offer generous loan terms to more businesses in order to reach 2020 target of USD $2.5 billion in infrastructure exports. Philippines authorities in midst of processing four letters of intent from South Korean firms representing potential $4.4 billion in energy investment. Suspicious payments of $2 billion by previous Najib government to China Petroleum Pipeline Bureau under investigation by Malaysian authorities. Indian federal investigators have filed criminal charges against AirAsia India, partly owned by Malaysia’s AirAsia, for “conspiracy” involving bribes to policymakers to change regulations.

MNCs in the News-2018-05-11

Apple denies taking a bite out of its customers. Official Chinese data indicate that Chinese outward foreign direct investment (FDI) grew healthily in the 1st quarter of 2018. China Three Gorges charges up to take full control of Portugal’s EDP which is drawing political scrutiny. Chinese investment in Malaysia big election issue. British government proposes USD $18.2 billion in loans for Hitachi’s Wales nuclear plant. Uniqlo to enter Indian market in fall 2019 as Indian government initiatives attract foreign retailers to the country. General Motors to move Asia-Pacific headquarters to South Korea to show Seoul commitment to its revitalized Korean operations. Elliot seeking legal action against Korean government for USD $670 million it claims to have lost from merger of two Samsung affiliates. Mahathir says Malaysia may renegotiate some deals with China following his coalition’s victory.

MNCs in the News-2018-01-19

Various Chinese government agencies press foreign companies to ensure websites respect China's sovereignty and territorial integrity. Shanghai consumer council not peachy about Apple's alleged old battery induced phone slowdown. China's Ministry of Commerce (MOFCOM) announces that Chinese outward foreign direct investment (FDI) drops by almost 30 percent in 2017 year-over-year. US Congressmen urge AT&T to hang up interactions with Huawei leading China to call for level playing field. Mexico's state-owned oil provider Pemex selects Mitsui as partner for USD $2.6 billion coking plant. Mitsubishi partners with Vietnamese government to promote electric vehicles. South Korea's antitrust watchdog concludes Qualcomm must adhere to new requirements to complete its USD $38 billion NXP acquisition. South Korean companies increasingly turning to joint ventures to mitigate risk and reduce setbacks due to political turmoil. Indonesian government pushing for Saudi Arabian firms to invest USD $1.6 billion in new light rail transit line. Indonesian government wants to attract more foreign investment in its financial institutions. Thai government's incentives for eco-friendly cars drive Mazda to invest USD $357 million to upgrade its Rayong plant to produce hybrid electric vehicles. Thailand's BoI expects applications for foreign investment to increase to USD $22.6 due to improved political relationships with both US and EU. Malaysia's Permodalan Nasional and state-operated EPF plan to buy Britain's Battersea Power Station Project for USD $2.2 billion. Mitsubishi to expand its operations in Vietnam boosted by Vietnamese government incentives. Pending government approval, Amata Corporation plans to invest USD $485 million in Vietnam.

MNCs in the News-2018-01-12

China moving to make Free Trade Zones (FTZs) freer. China punishes Marriott over survey that lists Hong Kong, Macao, and Tibet as independent countries. Apple’s iCloud darkens as it transfers the service to a Chinese company that will operate it and keep all data in China. French Finance Minister welcomes Chinese foreign direct investment (FDI) in France provided it is not “looting.” President Donald Trump’s pressure seems to have driven Toyota and Mazda to select Alabama for USD $1.6 billion production facility. NEC acquires Northgate Public Services for USD $640 million following the British government’s promotion of digitalization. South Korea’s state-operated Korean Development Bank sets price floor on sale of struggling construction firm Daewoo Engineering & Construction. Hyundai invests in Singapore’s Grab in effort to expand in Southeast Asia and reduce reliance on the tumultuous China market. Indonesia’s Ministry of Finance to reevaluate investment attraction programs after no companies applied in 2017. Jakarta and Freeport-McMoRan seek to resolve by June a host of operational issues that plague the future of Grasberg mine. Nissan shortlists Thailand as possible location for Asia-Pacific EV manufacturing facility due to Thai investment incentives. Thai Minister says Chinese investment into country’s rubber plantations must be carefully considered and not impact local farmers. Johor Sultan invests USD $100 million in Sri Lanka’s first pharmaceutical manufacturing sector. New policy decree by Hanoi allows foreign enterprises to provide logistics services in Vietnam. Several of Vietnam’s efforts to divest state-owned enterprises at the end of 2017 did not catch much investor attention.

MNCs in the News-2017-12-01

German business association warns Chinese Communist Party request that foreign firms set up party cells may have adverse consequences. Chinese government advisor suggests Shanghai will create free-trade port represents that addresses the failings of the previous Shanghai Free Trade Zone initiative. Shanghai body asks IKEA to consider a new round of dresser and chest recalls. China’s National Development and Reform Commission promulgates list of penalties that Beijing may impose on firms that engage in illegal outward foreign direct investment (FDI) and related activities. Japanese Court to hear Toshiba Western Digital dispute on sale of flash memory division. SoftBank Group to invest USD $2.5 billion in India’s Flipkart as India’s anti-trust commission approves deal. Seoul and London sign memorandum of understanding easing approval process for Korea’s KEPCO to acquire Britain’s NuGen. Hyundai Engineering & Construction Co. and POSCO Daewoo Corp. win Uzbekistan power plant deal. Jakarta has not finalized plans yet for Freeport deal as parties continue to disagree about mine’s valuation. Indonesia’s state-owned utility company Pembangkitan Kawa Bali and Abu Dhabi Future Energy agree to build world’s largest floating photovoltaic power plant. Bangkok approves USD $22.6 billion infrastructure investment in Eastern Economic Corridor, paving the way for more foreign investment projects. Thai firm will build massive power plant in Myanmar despite international outrage over Myanmar’s abuse of Rohingya. Malaysia’s central bank approves larger China’s HNA Group ownership stake in Germany’s Deutsche Bank subsidiary despite initial concerns. Foreign brewing companies eagerly await sale of Vietnam’s state-owned brewer Sabeco. Foreign M&As of Vietnamese business entities rising as Hanoi increases foreign ownership limits and privatizes state-owned enterprises.

MNCs in the News-2016-09-16

Inward foreign direct investment (FDI) in China shows growth over the previous month year over year (YOY) and for the first eight months of 2016 YOY. China’s State Council announces China will adopt a nationwide negative list by October 1. Chinese outward FDI (OFDI) dramatically jumps over first 8 months of 2016. Chinese OFDI (COFDI) surges dramatically over first eight months of 2016. British government surprise review of Hinkley Point C nuclear plant deal involving China General Nuclear Corporation (CGNC) results in approval. Chinese government and CGNC pleased by British decision on Hinkley Point C. China is major investor in Myanmar’s power sector. Peru’s President expresses concerns about the financial viability and environmental consequences of a Chinese-proposed transcontinental railway from Brazil to Peru. Brexit may drive some political realignments between Japan and Britain, though Japanese companies await developments. GM Korea President James Kim calls for an end to worker strikes and warns of adverse consequences for GM Korea. Korean Fintech firms will push the Korean Fair Trade Commission to force Apple to open its APIs for near field communication. Following high level leader summit, Korean firms win many deals in Russia. Indonesia tax amnesty fails to produce anticipated results. Indonesian minister’s proposal to soften 2009 Mining Law draws fire. Thailand reports the Sino-Thai high-speed rail initiative is chugging forward.

MNCs in the News-2016-07-08

Apple struggles to ensure China does not turn into a lemon. Walmart workers in China take widespread action against the company’s new working hours system. British Trade Ministry touts that losing pounds is good for Chinese investors. China Road and Bridge Co. wins first state project awarded to a Chinese company since new government came to power in Myanmar. Chinese banks work to bolster risk management and compliance abilities as they expand overseas. Japanese financial firms licensed in London forced to consider whether they should relocate elsewhere in the European Union (EU). After massacre in Dhaka, Japan’s Fast Retailing Co. suspends all but critical travel to Bangladesh. South Korea begins investigation of Ford Motor’s Explorer for possible leakage of exhaust fumes inside the vehicle. GM Korea is under the microscope in Korea because of repeated bribery/corruption scandals and selling inferior quality cars. The Indonesian Chamber of Commerce and Industry urges the government to take action to allow for full implementation of its policy packages. Contemporary Korean investment in Vietnam represents a third wave of Korean investment in the country.