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Events
Events
| Name | organizer | Where |
|---|---|---|
| "Open to Export" ICC WTO International business award | ICC WTO | London |
NEWS
Auto parts firms see potential in inland China www3.nhk.or.jp
Japanese-affiliated auto parts firms that have made inroads into China have promoted their products in the country's inland region.
Representatives of about 30 firms took part in the first business promotion event in the city of Chongqing on Wednesday. The event was hosted by the Japan External Trade Organization.
The companies are manufacturing parts in the southern Chinese province of Guangdong and elsewhere.
Auto production is rising rapidly in Chongqing. Output in the city topped 3 million units last year alone.
The figure is higher than production in Shanghai city and Guangdong Province, making Chongqing the country's top car-producing area for the second straight year.
Auto firms, both domestic and foreign, are beginning to set up production hubs in the city.
Anxious to make inroads into the inland market, participants were seen enthusiastically promoting their products to officials of local firms.
A representative of a metal processing company with a plant in Guangdong Province says differences in business practices make it difficult for Japanese firms to promote sales in China, but expressed resolve to do just that.
The head of JETRO's office in Chengdu, Eiji Okada, meanwhile showed readiness to support Japanese- affiliated enterprises embracing the opportunity, saying the auto industry in inland China is expanding rapidly.
Sony to spin off camera business www3.nhk.or.jp
Sony says it will spin off its camera business in April, as part of streamlining efforts. The business will be the last of the company's electronics operations to be separated from the parent.
The new company will be in charge of digital and video cameras for the home as well as cameras and other broadcasting equipment for businesses.
The camera business has annual sales of about 6.7 billion dollars. That would make the future company Sony's second-biggest to be spun-off, following its TV unit.
Sony has spun off its other electronics businesses to increase their independence and streamline operations.
With Sony's latest move, the company is now set to rebuild its electronics business, which was once a major drag on its performance.
LinkedIn could soon be banned in Russia www.rt.com
The world's largest professional network LinkedIn could soon be blocked in Russia. The company has failed to comply with a law that obliges companies to keep data on Russian users in the country.
Apart from not moving servers to Russia, LinkedIn collects and sends information about people who are not users of the network without their consent, according to the Russian internet watchdog Roskomnadzor.
"We are seeking a court order to block LinkedIn. We twice sent requests in the summer, but they did not provide answers to our questions," said Roskomnadzor spokesman Vadim Ampelonskiy in an interview with the TASS news agency.
According to the spokesman, Moscow’s Tagansky District Court has ruled in favor of the watchdog, but LinkedIn has appealed to a higher court.
“If the appellate court upholds the judgment, and it will no longer be appealed, the decision will enter into force within 30 days. We will include the appropriate IP address in the register of violators of the personal data rights, which means blocking,” Ampelonskiy said. The decision will be announced on November 10.
The watchdog will remove the ban, if the social network provides information that it has fulfilled the law and moved servers with data about Russians to the country.
"This is the first company we are suing in court. In future we will use the same mechanism in relation to other companies," the spokesman said.
Roskomnadzor also told Kommersant daily that another reason for the lawsuit was "numerous publications in the media about repeated leaks of user data from the social network."
In May, website Haker.ru reported the sale of 167 million stolen LinkedIn accounts, and passwords for 117 million accounts on the dark web. LinkedIn said the leak happened in 2012, and passwords have now been updated.
LinkedIn is the world's largest business and employment oriented social network. As of 2015, it had 400 million users with 5 million people registered in Russia.
China to overtake US nuclear capacity www.rt.com
The growth of China's nuclear power industry will make it the world's biggest in 15 years, the World Nuclear Association (WNA) said on Tuesday.
The country will overtake France to have the second-largest number of nuclear reactors by 2020, according to WNA director general Agneta Rising.
China’s push to develop nuclear energy comes from the need to improve air quality in its rapidly growing cities as well as reduce greenhouse gas emissions in line with international commitments. The country has one of the highest rates of air pollution related deaths in the world.
"For China, the air pollution is a major driver," Rising was cited by Reuters.
The WNA report showed that in Asia 134 operable reactors generated 400 terawatt hours of electricity last year, making up 16 percent of global nuclear generation. There are firm plans to increase that figure, with 39 reactors comprising 47.4 gigawatts (GW) currently under construction in Asia. Twenty of those are to be built in China.
Beijing has set a goal to generate 58 GW of nuclear energy by 2020. A gigawatt of power provides enough energy for about 700,000 homes.
By 2050, nuclear power generation in China is expected to exceed 350 GW, including about 400 new nuclear reactors at a cost of over a trillion dollars.
"There is history in the region, where you have high-skilled people with very good university education and they have been working on research reactors... so I think there is basis of knowledge," Rising said. "The big driver (in Asia) is to have electricity for people."
According to the report, there are plans for more than 50 reactors providing more than 50,000 MW in nine new countries in the region. Most of them plan to have their first nuclear reactors enter operation before 2030.
New reactor construction is mostly led by industrializing countries which have enjoyed high levels of economic growth with an accompanying increase in energy demand, the WNA said.
It added that four countries - China, Russia, India and South Korea - are expected to account for 70 percent of reactors commissioned through 2030.
Tesla reports first quarterly profit for three years www.bbc.com
Electric car maker Tesla has reported net income of $21.9m (£17.9m) for the third quarter after 13 consecutive quarterly losses.
This compared with a loss of $230m a year earlier.
Record deliveries helped to offset rising expenses for next year's roll-out of the company's mass-market Model 3 saloon car.
Tesla delivered a record 24,821 cars during the quarter, more than 300 more than estimated.
Shares in the electric car maker jumped 3.76% in after-hours trading.
"The Tesla third quarter results reflect strong company-wide execution in many areas," said chief executive Elon Musk and chief financial officer Jason Wheeler in a statement.
"We set new records for vehicle production, deliveries and revenue."
Tesla, which went public in 2010, had not made a net quarterly profit since the first quarter of 2013.
In the previous two quarters it had missed production targets.
The firm is counting on the Model 3 to help it meet its 2018 goal of producing 500,000 cars annually.
The Model 3 is Tesla's attempt to widen its market appeal with a more affordable car. Its starting price is expected to be $35,000.
In its third quarter results Tesla did not provide an update on its planned $2.6bn acquisition of solar panel maker SolarCity.
Mr Musk, who is SolarCity's chairman and main shareholder, has said he plans to provide more financial details on the deal on 1 November before a vote by shareholders of both companies on 17 November.
Apple steps into void from Samsung debacle www.asia.nikkei.com
PALO ALTO, U.S. -- Apple is confident of revenue growth thanks to the inferno surrounding Samsung Electronics' discontinued smartphone.
The U.S. tech giant on Tuesday turned in a 9% year-on-year slide in net sales for fiscal 2016's final quarter ended in September. Apple marked a third straight quarterly drop and its first annual revenue decline in 15 years. However, the company forecasts sales to rise as much as roughly 3% for the current October-December period.
"Fiscal 2016 saw more customers switch from Android to iPhone than ever before," Apple CEO Tim Cook said during Tuesday's conference call. "Demand continues to outstrip supply" for the newly released iPhone 7 models.
Sales had suffered amid criticisms that Apple's latest smartphones lack innovation. Then South Korean rival Samsung was forced to contend with the defects in the Galaxy Note 7, which have caused even replacement phones to catch fire. Samsung permanently ended production and sales of the device this month. Taiwan's KGI Securities, a noted Apple watcher, predicts over 5 million current or potential Note 7 customers will purchase iPhones instead. That scale would be equivalent to over 10% of unit sales during the July-September quarter.
In America, where Chinese makers of downmarket smartphones have marginal share, Apple and Samsung effectively hold a duopoly in the high-end device market. In many cases, an iPhone would be the first choice to replace old Samsung phones absent available updated versions, analysts say. To keep its remaining customers, Samsung is offering Note 7 owners a trade-in program to get next year's new version for half the price.
Meanwhile, Apple is further innovating smartphone quality control and internal designs -- areas that typically do not grab headlines but contribute to device functionality. The aim is to increase market share by ensuring quality.
The first wireless chip designed by Apple powering the iPhone 7's Wi-Fi earphones is one result of that push. Apple also is standardizing core components and decentralizing suppliers. Apple hired Intel to make communications chips for the iPhone 7 along with fellow American chipmaker Qualcomm, which had been the lone procurement source for five years.
Cabinet focuses on economic transparency law observance www.mongolia.gogo.mn
At the regular meeting of the Cabinet, held on Wednesday, the Minister of Finance, B.Choijilsuren reported about the course of the implementation of the Law on Glass Account (Economic Transparency).
The related line ministers and budget managers were assigned to organize internal audits on the enforcement of the Glass Account Law, make sure its observance in due way, and to impose corresponding responsibilities on the officials, who have failed to do.
Chairman of the State Property Policy and Adjustment Department Ts.Nyam-Osor was tasked to improve monitoring of the law implementation.
The cabinet directed the heads of all levels of budget organizations the Glass Account Law applies to, to keep updating their information on their websites.
Japan's tax agency to focus on offshore trades www3.nhk.or.jp
Tax authorities in Japan have announced on their website tightened surveillance measures for offshore investment and trade by the country's wealthy and firms.
Tax evasion has been a hot topic since a massive leak this year of financial documents known as the Panama Papers.
Officials at Japan's National Tax Agency want to ensure that wealthy people and multinational corporations with assets overseas pay their fair share in taxes.
The agency is studying documents required for individuals with such assets worth more than 50 million yen, or over 480,000 dollars.
Agency officials say they'll launch a system by September 2018 to automatically exchange information on financial accounts with tax authorities in over 100 nations. The effort would be based on international rules.
They also say that starting next July, they will expand a nationwide network of project teams specializing in taxing the wealthy.
China's Weibo to help microbloggers build their brands www.chinadaily.com.cn
BEIJING - China's microblogging site Weibo plans to build a one-stop system to help some of its most-followed users turn their online influence into money, the company's CEO said Tuesday.
Weibo, the largest domestic microblogging platform, will help users define their brand focus, attract and accumulate followers and cash in on their popularity through advertisements, pay-per-read posts and other marketing tools, Weibo CEO Wang Gaofei told the ongoing 2016 V-Influence Summit on the country's growing new media platforms and fan economy.
Microbloggers have raked in 11.7 billion yuan ($1.73 billion) via Weibo's current services. Promotions that link to online shopping generated the highest earnings, 10.8 billion yuan in total, for users, followed by pay-per-read posts and brand promotions at 470 million and 430 million yuan, respectively.
Weibo has around 340,000 microbloggers deemed "influential," meaning those whose articles or posts are read by at least 100,000 people each month, up 34 percent year on year, while those with 10 million monthly readers saw a 70 percent increase year on year.
The company has earmarked 100 million yuan to support the promotion of influential microbloggers; 500 million yuan in short-length video promotion; and has plans to release a live voice streaming service next year, according to Wang.
Weibo has partnered with over 300 multi-channel networks (MCN) to help microbloggers grow their brands with programming, funding, cross-promotion, audience development and other services, Wang added.
The NASDAQ-listed company overtook its U.S. counterpart Twitter in market capitalization for the first time during trading earlier this month thanks to its strong revenue and user growth. The company is expected to release its third quarter financial performance in late November.
Weibo had 282 million active monthly users by the end of the second quarter of this year and aims to have 500 million within three years, according to Wang.
Mehmet Erdogan: Mongolia and Turkey should strive for strategic partnership www.en.montsame.mn
Ulaanbaatar /MONTSAME/ T.Ayursaikhan MP, the head of the parliamentary group of Mongolia-Turkey Friendship, received today a Turkish parliamentary delegation led by Mr Mehmet Erdogan, the head of the Turkey-Mongolia Friendship Group in the Grand National Assembly of Turkey. Mr Ayursaikhan underlined an importance of inter-parliamentary interactions between Mongolia and Turkey.
“Our countries are both democratic states with parliamentary systems. Turkey is recognized as Mongolia’s “third neighbor”, noted the MP and expressed his satisfaction with the recent achievements made in the bilateral relation in the context of the comprehensive partnership.
Mr Erdogan thanked Mr Ayursaikhan for the hospitality and said he is pleased to have his third visit to Mongolia - a brother nation for Turkey. “It is important to consolidate our ties to make up the geographical distance. Therefore, the weekly direct flights contributes greatly to boosting bilateral ties. The latter has been witnessing even more dynamic growth over the last 26 years, when more than a hundred cooperation documents have been signed by the two sides. We should strive to upgrade the relations to the level of strategic partnership”, he said.
The dignitaries touched upon issues concerning bilateral trade, economy, agriculture and cooperation in light industry, as well as the student exchange.
Present were also, the members of parliamentary friendship group N.Enkhbold, G.Soltan and B.Undarmaa MPs, members of the Turkey-Mongolia Friendship Group in the Grand National Assembly of the Republic of Turkey, and Ambassador of Turkey Murat Karagoz.
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