US Treasury Department

MNCs in the News-2018-04-27

Foreign car makers hope China will speed up the auto reform parts that they desire. Puma hopping to consider other production venues if United States (US) imposes tariffs on shoes and apparel made in China. India does not offer support for China’s Belt and Road Initiative (BRI) at recent Shanghai Cooperation Organization (SCO) meeting. Toyota to sell Chinese partner’s electric vehicle in China to pave way for introducing own models next year. Itochu pulling out of Turkish nuclear power plant project due to surge in safety-related costs. General Motors reaches last minute deal with labor union and South Korean government to save Korean operations. State-owned Korea National Oil Corporation looking to sell Canadian Harvest oil field to repay debts incurred by its Canadian subsidiary. Opponent of incumbent Malaysian Prime Minister vows to reconsider Chinese contracts if elected. KWAP may consider stake in IAG if Prudential cannot met Malaysian central bank mandate that foreign insurers reduce ownership stakes to 70 percent.

MNCs in the News-2018-03-30

China responds to United States (US) World Trade Organization (WTO) complaint that its technology licensing practices are not WTO compliant. Washington considers new mechanisms for reviewing and limiting Chinese foreign direct investment (FDI) into the US technology sector. The Head of Australia’s Foreign Investment Review Board welcomes Chinese FDI as the country moves to improve its ability to minimize any related security threats. Takeda considering takeover of Irish drugmaker Shire as Japanese government seeks to tackle rising healthcare costs for its aging population. Softbank Vision Fund and Saudi Arabia to boost solar production in the Arab country. Tirebank intends to acquire Korean company Kumho Tire from Korea Development Bank because of frictions between Kumho’s workers union and Chinese buyer Doublestar. Renegotiation of South Korea-US Free Trade Agreement causes Hyundai to move production of its new pick-up truck model from Korea to the US. Pertamina reports it secured a contract with the Iranian government to take an 80 percent stake in Mansouri oil field. Jakarta put forth simplified tax holiday scheme in bid to boost investment in the country. Thailand approves USD $7.22 billion high-speed rail project to link three airports. Japanese electric vehicle producers flocking to Thailand in the wake of government promotion packages. Joint venture between Malaysia’s Yinson Holdings and PetroVietnam ordered to stop operations in Vietnamese offshore oil field due to Chinese pressure. InvestKL on track to bring in 100 multinational corporations by 2020. Hanoi announces list of sectors that would be prioritized to receive Japanese high-technology and investment. New Franco-Vietnamese investment deals signed as Vietnam’s Communist Party General Secretary visits France.