VW

MNCs in the News-2016-03-25

China announces a recall affecting BMW Mini Coopers. Chinese M&A and outward M&A deal values hit record amounts for the year to date. Leading Chinese brands are earning an increasing amount of their revenues from overseas. China Railway Group Limited to invest billions of dollars in an integrated office complex in Kuala Lumpur and will set up its regional headquarters there. China’s Railway No. 3 Engineering Group and SinoFortone Group conclude MOU with Scotland that has the potential for US $14 billion in infrastructure projects. Japan’s Inpex multibillion dollar LNG project in Indonesia may undergo a dramatic transformation due to a Presidential decision to move the project onshore. Korean prosecutors raid Volkswagen’s vehicle inspection center to probe emissions equipment on the German’s company’s new cars. Korea’s GS Engineering and Construction wins US $1.26 billion contract for world’s largest rolling stock and bus base in Singapore. A Korean consortium including Daewoo Engineering and Construction and Hanwha Engineering Construction have won a $18-20 billion housing project in Saudi Arabia. Korean firms will invest in Russian Far East for “fishy reasons.” At the BOAO Forum for Asia, Indonesia Vice President Jusuf Kalla says his country needs to improve its regulatory efficiency. Indonesia aims to secure a 30 percent increase in FDI from China in 2016. Thai Deputy Prime Minister courts South Korean investment. Vietnam grants Samsung Electronics Vietnam permission to establish a USD $300 million research and development project in Hanoi.

MNCs in the News-2015-12-18

Inward FDI in China continues to show growth year-over-year. European Chamber of Commerce in China President questions China’s interest in attracting foreign investment. Chinese NGO files a lawsuit against VW for its emissions testing cheating fraud. At the 2nd World Internet Conference (WIC), China’s President Xi Jinping promises to protect foreign companies’ legal rights. At the WIC, the Cyberspace Administration of China announces “China will manage cyberspace according to the rule of law, while providing more room for development based on the market” while President Xi stresses cyber sovereignty and the avoidance of internet hegemony. China shifts “Ten-Year Review of the World Summit on the Information Society” in a direction more to its liking. Microsoft partners with Chinese company to create joint venture that will allow it to sell Windows 10 to government market. AstraZeneca to increase investment in China. Chinese outward FDI for the first 11 months of 2011 exceeded $104 billion. Sinopec to build a fuel station on Woody Island in the South China Sea. Australia’s Defense Department strongly criticizes anxieties about the security implications of a long-term lease of a port in northern city of Darwin to a Chinese firm. Chinese state-owned enterprises purchase significant Australian infrastructure assets. Japan provides massive concessional loan to support India’s construction of its first bullet train. French government pledges not to interfere in Nissan. Japan looks to win Singapore-Malaysia bullet train project. Korean government will create industrial complexes in China and Vietnam and business centers around the world to help Korean firms expand abroad. Changes in Korean cloud market draw substantial foreign investor interest. South Korea gives China Everbright Bank permission to set up a branch in Seoul. Indonesian think tank calls for government to move against Freeport Indonesia contract extension.

MNCs in the News-2015-10-30

On the eve of her trip to China, German Chancellor Angela Merkel faces pressure to push German business interests. Chinese and American negotiators begin another round of BIT negotiations. The City of Beijing moves to implement new rules opening the capital’s service sector to foreign investors. Tianjin orders ConocoPhillips to pay compensation to 21 fishermen who sued the firm for losses suffered as a result of the 2011 Bohai Bay oil spill. Chinese Chamber of Commerce in Germany (CHKD) survey indicates Chinese firms in Germany still optimistic. Mexico’s Jalisco state signs a deal with China Communications Construction Company that could lead to the development of a 500-hectare industrial park in Jalisco. Chinese investment in New Zealand farmland provokes backlash and a heated debate. Korea achieves its highest ever ranking in the World Bank’s business friendly countries' assessment. The World Economic Forum scores Korea poorly in terms of labor market efficiency. The Korea Electric Power Corporation lands Korea’s first big alternative energy project in the Middle East. Malaysian official encourages Malaysian firms to grasp Halal foods opportunities. Malaysia leaps ahead of Indonesia as an Islamic finance hub. Responding to business complaints, Indonesia eliminates rules requiring companies to hire 10 Indonesian workers for every foreign one. Thailand’s position as a business friendly country slips three places in latest World Bank study. Vietnam’s FDI, concentrated in the processing and manufacturing sectors, soars year-over-year. Vietnam shows major drop in World Bank’s business friendly country rankings, though change may be a result of report methodology changes.

MNCs in the News-2014-11-07

FAW-Volkswagen stalls on massive recall issues while accelerating auto parts presence in China. Foreign companies face a taxing environment. China’s National Development and Reform Commission proposes changes to open up China wider to foreign investors. Qualcomm under siege in China and profits suffer. Chinese Minister-Counselor in the UK voices concern about British visa restrictions on Chinese workers while touting Chinese firm contributions to the UK. Huawei tunes into Namibian ICT workers for training at its Shenzhen HQ. Transparency International bites at Chinese company disclosures. Foreign countries look to Japan for defense technology cooperation. Japanese utilities partner with Singaporean and Indian firms to reduce the cost of LNG imports. Brazil, Mitsui, and the Japanese government cooperate on Brazilian subway project. The US National Highway Traffic Safety Administration pushes Honda for information regarding the Japanese auto parts maker Takata’s defective air bags recall. Australia and Fiji look to reinvigorate trade and investment links. Hyundai-Kia pays US massive fine for overstating car fuel efficiency. Iran reaches out to Indonesia to express interest in investments in Indonesia’s oil and gas sectors.