Rosneft

MNCs in the News-2018-07-27

China’s Ministry of Commerce (MOFCOM) drafting rules that would subject more foreign direct investments (FDI) to its national security review process. Diverse United States (US) airlines move to comply with China’s order regarding the treatment of Taiwan on their websites and in maps. Chinese mergers and acquisitions activity in the US in the first half of 2018 has plummeted versus the comparable period last year due to political and other factors. Chinese investors kicking out their European soccer club investments due to Beijing’s crackdown on “irrational” overseas FDI. Rosneft, a Russian state-owned firm, files USD $1.4 billion lawsuit against Japanese and other stakeholders in Sakhalin oil and gas project. Just days after Japan passes controversial law allowing development of three new casino resorts, Genting Singapore forms five new subsidiaries in Japan. Laos to investigate possible construction flaws after dam collapse that was built by joint venture involving South Korean, Thai and Lao companies. Korea’s financial regulator helping Korean financial firms expand into overseas markets due to saturated domestic market.

MNCs in the News-2018-03-23

US companies dilute proposed legislation that might have dampened their exports to/sales in China of technology. 2018 China Enterprise Cross-Border M&A Special Report shows decline in both the number and volume of Chinese merger and acquisition (M&A) deals in 2017. China’s crackdown on CEFC Energy throws into uncertainty a proposed mega investment in Russia’s Rosneft. Japanese may loosen regulations on foreign direct investment (FDI) in Japanese broadcasters. Toshiba chip sale deal awaits regulatory approval from China. South Korea company wins multi-billion bridge building contract in Turkey. South Korea and Russian companies lay foundation for cooperation in building transportation and other infrastructure for Korean peninsula and elsewhere. Indonesia’s Environment and Forestry Ministry to sue American mining company Freeport McMoRan for massive environmental damages. Indonesian official embark on road show to bring more private FDI into the country’s underfunded infrastructure projects. Thai government alarms by announcing intention to change the country’s Foreign Business Act. Malaysia finalizes deal bringing USD $7 billion of Saudi FDI into the Pengerang Integrated Complex. UAE company will pour more than USD $1 billion to develop offshore Malaysian gas site. Vietnam’s State Audit Office slaps back taxes bill on just privatized former state-owned enterprises (SOE) Sabeco. Vietnam aims to divest major portion of PetroVietnam Gas to garner strategic investment and massive amounts of funds.

MNCs in the News-2018-03-02

Apple stores key for accessing Chinese users iCloud data in China raising human rights and privacy concerns. Committee on Foreign Investment in the United States (CFIUS) opposition causes Xcerra to terminate sale to Chinese investment fund. Chinese automakers not braking on their overseas expansion despite legal and regulatory issues facing outward foreign direct investment (FDI). Shanghai government takes over CEFC China Energy. Toyota to build next generation of Auris model cars in England despite worries about effect of Brexit. Kubota Corp. to spend over USD $3.1 billion on three new US production plants in a bid to mitigate foreign exchange risks and jump market barriers. Mounting pressure in the US to impose trade restrictions on various Korean-made products cause Samsung Electronics to consider more US based production facilities. Kumho Tire under pressure to find new majority shareholder given opposition to Chinese investment in a firm that operates defense businesses. Foreign investors charged up about investment opportunities in Indonesian electric vehicle battery sector because of the country's backward energy infrastructure and battery technology. Indonesia's BIBU plans to work with foreign partners/investors to build a new airport in Bali subject to Ministry of Transportation approval. Russia proposes joint innovation fund with Thailand to increase investment in technology. Najib Razak announces Saudi Arabia's state-owned oil and gas conglomerate Aramco will invest USD $7 billion into Malaysia before March 31. Vietnam approves Vietcombank's sale of a 10 percent stake to foreign investors as Hanoi rolls back restrictions on foreign investment in the sector.

MNCs in the News-2017-06-09

At the 5th Global CEO Roundtable Summit, Chinese Premier Li Keqiang states that his government will move in several areas to improve the environment for foreign businesses. China’s Ministry of Commerce (MOFCOM) dismisses European Union (EU) Chamber of Commerce in China criticisms of China’s investment environment while opining China still welcomes European investment. ZTE Nigeria denies it is abusing expatriate quota limits and touts its employment practices in the country. Nomura Holding Inc. acquires Venezuelan state oil bonds for USD $100 million provoking strong denunciations by the political opposition. Western Digital abandons plans for a majority share in Toshiba chip division while trying to use the International Court of Arbitration to block Toshiba’s creation of a separate memory chip subsidiary. Hyundai Motors joins smart car partnership with Baidu to foster better Korean-Sino relations. Hyundai Samho Heavy Industries establishes joint venture with Zvezda Shipbuilding to service Russian state-owned enterprise ship needs. Chinese Ambassador to Indonesia seeks support from Indonesian Vice President to implement Jakarta-Bandung bullet train project. United States President invites Thai Prime Minister to visit White House in July to discuss investment and other issues. Sale of Petronas’ 49% share in offshore gas block advances to second round despite political opposition. International Trade and Industry Minister Mustapa urges Malaysians to adopt rational attitude towards its local equity ownership policy. IE Singapore signs memorandum of understanding with Myanmar Investment Commission. Secretary of Ho Chi Minh City Municipal Party Committee welcomes more US investment. Vietnamese Prime Minister promises to improve business environment of his country to attract more Japanese investment.

MNCs in the News-2015-09-11

China’s Ministry of Commerce (MOFCOM) reports that inward foreign direct investment (FDI) rose 22 percent in August year-over-year (YOY). Foreign companies express concern about China’s reform direction and stance towards foreign business. US business community hopes Chinese President Xi Jinping’s state visit to the US will push forward a US-China Bilateral Investment Treaty (BIT). Sources report Google will develop China-mainland version of its Google Play online store that meets government requirements. China’s Ministry of Finance charges Apple with underpaying more than $65 million of taxes in 2013, which Apple has since paid. China plans to host major technology meeting in Seattle in late September around the same time as Xi’s state visit to Washington. Taiwan liberalizes rules governing investment by local chip firms on the Chinese mainland. China’s National Development and Reform Commission (NDRC) Guangdong branch fines Dongfeng Nissan and 17 dealers more than $22 million for price fixing. Chinese and Russian firms conclude numerous investment deals on sidelines of China’s 70th anniversary V-Day ceremonies. Pakistan leases 2000 acres of land at Gwadar Port to facilitate China’s construction of the port’s first free economic zone. Indonesia will lengthen from 2 to 10 years the time before a contract expires that mining investors can seek a contract extension. Indonesia opts to retain ban on unprocessed mineral ore exports. Vietnam Decree 60 fails to boost foreign investment.