ExxonMobil

MNCs in the News-2019-04-05

Chinese government shines light on subnational units that are making it difficult for foreign direct investment (FDI). China lubricating way for foreign energy giants to enter its petrochemical sector. Beijing is drafting rules to identify a list of BRI projects officially acknowledged by the Chinese government. China’s expansion in Latin America via the BRI raises US anxieties. British officials and senior labor union members will travel to Japan to press Honda to review its decision to shut down its United Kingdom (UK) Swindon plant. Toshiba experiencing delays in securing approval from the Committee on Foreign Investment in the United States (CFIUS) to sell its liquefied natural gas (LNG) business to a Chinese company. Korea Hydro & Nuclear Power (KHNP) risks bid to become long-term maintenance service provider of the United Arab Emirates (UAE) Emirates Nuclear Energy Corporation’s (ENEC) Barakah Nuclear Energy Plant because of its unilateral decision to replace plant’s workforce. Responding to a Saudi Arabian Cabinet member’s interview reporting “‘advanced’” talks, Hyundai Motor denied plans to build a new manufacturing plant in Saudi Arabia.

MNCs in the News-2017-07-21

In rare praise for foreign firms, Chinese President Xi Jinping lauds their contribution to China and says the Chinese government must do more to attract and retain them. The China Banking Regulatory Commission imposes strict limits on Chinese banks providing support for overseas deals by Dalian Wanda. Some feel the United States (US) Committee on Foreign Investment in the United States is becoming stricter which, in turn, may hinder Chinese investment flows in the US. Toyota continues USD $310 million UK plant expansion after receiving Brexit reassurances from British government. Japanese financial institutions move to set up subsidiary businesses in the EU as Brexit jeopardizes their financial services licenses. Hyundai to open fifth Chinese assembly plant as compact vehicle sales are expected to rise before Chinese government’s increase in purchase taxes next year. South Korea’s Nexen Tire Corp. signs memorandum of understanding with United Arab Emirates’ state-owned Mubadala Development Co. Indonesian branch of ExxonMobil drops talks on East Natuna natural gas block, with Jakarta saying it intends to invite firm to discuss project again. Economist says Malaysia to become key economic corridor because of strong economic fundamentals, strategic geographical location and Prime Minister’s diplomatic efforts. China’s restrictions on bank loans to Dalian Wanda Group diminish prospects of Bandar Malaysia project. Vietnam’s Prime Minister signs decision to boost his country’s solar power development which is spurring much foreign investor interest. At HCM City conference, Laotian provinces court investment from Vietnam.

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-2016-11-11

China approves cyber security law despite intense lobbying by foreign business associations, firms, and governments. China reportedly is considering allowing foreign investment banks to have wholly owned operations on the mainland. China Development Bank Capital (CDBC) and Microsoft have formed a partnership to “promote technology innovation and smart city development.” Germany withdraws approval for a group of Chinese investors’ 670 million euro purchase of Aixtron. The German government is seeking greater powers to investigate and potentially block Chinese acquisitions of German companies. China has expressed concerns about Germany’s seeming new protectionist stance towards Chinese investment. German Vice Chancellor Sigmar Gabriel speaks strongly about protecting German interests and gets the cold shoulder during a visit to China. High-level officials from the United Kingdom (UK) and Britain meet to discuss new investment collaborations in the financial sector. The Japanese government pushes Japanese firms to invest in Russia to help facilitate a resolution of the Russo-Japanese Northern Territories/Southern Kurils dispute. Japanese Trade minister Hiroshige Seko and Russian Far East Development Minister Alexander Galushka agreed to promote economic development projects in Russia’s Far East ahead of a summit between their leaders in December. Japan’s JFE Engineering Corporation will start constructing greenhouses in Primorsky Krai in cooperation with a Russian federal state enterprise. The President of the Japanese chambers of commerce in Britain and the European CEO of Mitsubishi warns that more than general assurances about Brexit are needed to comfort Japanese firms in the UK. Korea and Oman establish basis for Korean companies to participate in almost $27.1 billion in energy and infrastructure projects in Oman. Korea Gas Corporation moving forward on cooperation with China National Petroleum Corporation on natural gas trading, joint international projects, and information sharing. Chinese foreign direct investment (FDI) in Indonesia has jumped following repeated high-level meetings between the Presidents of the two countries. Donald Trump’s victory dampens the opportunities for US energy companies in Indonesia. Jack Ma opts to serve as an advisor to Malaysia rather than Indonesia about the e-commerce economy. Chinese technology giants like Alibaba, Tencent, and Wanda Group have expressed their interests in participating in Malaysia’s digital economy plan. During his recent visit to China, Malaysian Prime Minister Najib Razak signed 14 memorandum of understandings totaling USD $47.5 billion. Pundits note both future opportunities and risks relating to increase Chinese investments in Malaysia.