Jimmy Choo puts itself up for sale www.bbc.com

Luxury shoe maker Jimmy Choo has said it is seeking potential offers for a sale of the business.
The firm said it had not received any bids yet and was also considering other options for the business.
The move received backing from Jimmy Choo's main shareholder JAB Holdings, which is also an investor in Krispy Kreme donuts and luxury firm Coty.
As well as shoes, Jimmy Choo produces a range of luxury goods, but has seen sales slow in recent years.
Its footwear is often seen on the red carpet worn by celebrities such as Jennifer Lopez and Bella Hadid.
The company said in a statement: "The Board of Jimmy Choo announces today that it has decided to conduct a review of the various strategic options open to the Company to maximise value for its shareholders and it is seeking offers for the Company.
"Jimmy Choo has discussed the strategic review process with its majority shareholder, JAB Luxury GmbH, and JAB Luxury has confirmed that it is supportive of the process."
Jimmy Choo's sales growth was 2% in 2016 compared to 7% in 2015 and 12% in 2014, analysts at HSBC noted last month.
The company listed on the UK stock market in 2014. Its shares have gained more than 20% this year, giving it a market value of £670m

Analysts Set Turquoise Hill Resources Ltd (TRQ) Target Price at $5.17 www.watchlistnews.com

Seven countries to deepen cooperation on China-Europe freight rail services www.chinadaily.com.cn

Mongolia aviation: liberalisation, end of MIAT protection needed to drive growth at new airport www.centreforaviation.com

Alibaba bringing Belt, Road benefits to SMEs www.chinadaily.com

The marketing and technological power of e-commerce giant Alibaba Group is working with President Xi Jinping's signature global economic vision to bring smaller firms into global commerce on a huge scale.

Euro jumps as Macron emerges as favorite to lead France www.cnn.com

Investors breathed a sigh of relief after pro-European reformer Emmanuel Macron emerged as the front runner to become the next French president.
The former economics minister and investment banker beat far-right leader Marine Le Pen into second place in the first round of voting Sunday. They will face off in a second round on May 7.
The euro jumped against the dollar to its highest level since November as investors bet that the chances of Le Pen winning power were fading. Stocks got a lift too -- futures markets indicated gains of more than 0.5% for the main Dow Jones and S&P indexes.
Deutsche Bank's director of foreign exchange strategy Sebastien Galy called Sunday's vote the "perfect scenario for the market."

Local, global security firms in race along China's 'Silk Road' www.reuters.com

By Brenda Goh, Michael Martina and Christian Shepherd | SHANGHAI/BEIJING
Global security companies and their smaller Chinese rivals are jostling for business along Beijing's modern-day "Silk Road", the grandiose plan for land and sea routes connecting the world's second largest economy with the rest of Asia and beyond.

Representing investments of hundreds of billions of dollars, the pet project of Chinese President Xi Jinping is seen boosting economic growth at home, and as positive for everything from steel prices to cement makers.

Security firms also expect to tap the rush, offering to protect thousands of Chinese workers - and the pipelines, roads, railways and power plants they build - as they fan out across the world under the "One Belt, One Road" (OBOR) initiative.

It won't be easy, however, with executives warning that state-owned enterprises running or planning projects from Africa to Vietnam sometimes prefer to deal with fellow Chinese, treat safety as an afterthought and try to keep costs to a minimum.

"OBOR is a lifetime (of work) for us," said John Jiang, managing director of Chinese Overseas Security Group (COSG).

The small consortium of security providers was set up early last year and operates in six countries: Pakistan, Turkey, Mozambique, Cambodia, Malaysia and Thailand.

"In eight years' time, we want to run a business that can cover 50-60 countries, which fits with the One Belt One Road coverage," Jiang told Reuters.

Chinese personnel are essentially barred under Chinese law, and that of many host nations they work in, from carrying or using weapons.

Instead, COSG and its rivals usually work with and train local staff and focus on logistics and planning.

In Pakistan, for example, where attacks by militants and separatist insurgents are considered a serious threat, COSG has a joint venture with a local security firm with links to Pakistan's navy.

The Pakistani army also plans to provide 14-15,000 armed personnel dedicated to guarding Chinese projects, according to local media reports.

The $57 billion China-Pakistan Economic Corridor, the largest single project under the OBOR banner, envisages roads, railways, pipelines and power lines that link China's western reaches with the Arabian Sea via Pakistan.

CHINESE VERSUS INTERNATIONAL

Major international security operators hope their scale and experience can convince China's price-conscious state-owned giants to pay for foreign expertise.

Firms like Control Risks and G4S (GFS.L) offer staff with military backgrounds and decades of experience in risky regions around the world.

G4S said it had seen an acceleration of interest in its services since OBOR began gaining traction.

Michael Humphreys, a Shanghai-based partner at Control Risks, said around a third of the security consultancy's work in China was related to OBOR.

Hong Kong-based logistics firm Frontier Services Group (0500.HK), co-founded by Erik Prince who created the U.S. military security services business Blackwater, announced in December it was shifting strategy to capitalize on OBOR.

It plans to set up an office in the southwestern province of Yunnan, which adjoins Southeast Asia, and another base in Xinjiang in China's west, the starting point for the CPEC project crossing Pakistan.

Smaller Chinese firms like COSG, Shanghai-based Weldon Security and Dewei Security, meanwhile, see their advantage over multinationals in state-owned enterprises' preference for hiring Chinese to handle sensitive projects.

Only a handful of the estimated 5,800 Chinese security companies operate overseas, with the vast majority focusing on the domestic market.

"For Chinese firms, especially with security work, they (state companies) want to speak with another Chinese person. We can also one hundred percent reflect their thinking when we work," said Dewei general manager Hao Gang.

NO EASY SELL

Security risks facing Chinese workers abroad are varied and often unpredictable.

Yu Xuezhao, a former soldier working in Kenya for Dewei, is helping to train hundreds of local guards to protect Chinese contractors operating there, including oil giant Sinopec (600028.SS) and China Road and Bridge.

Africa, where China invested long before OBOR was formally created, is considered a part of the initiative.

"The most common incidents we encounter are thefts and strikes," 27-year-old Yu said, speaking from a training compound in the Kenyan capital Nairobi he has managed since 2015. "We train security guards to inspect cars and do ground patrols."

Events can quickly escalate.

In 2015, for example, an attack on a hotel in Mali killed three workers at a Chinese state firm, leading to calls by Beijing for beefed up security.

Officials revealed then that 350 security incidents had occurred between 2010-2015 involving Chinese firms abroad.

Such concerns do not easily translate into lucrative contracts, however.

In some cases, security companies are called in to deal with an emergency rather than to coordinate a long-term strategy.

"For a lot of companies, they come to us when they've (already) got a problem," said Humphreys of Control Risks.

"They've started the project and they can't move it forward because they have a labor dispute or someone is throwing petrol bombs at their trucks."

Hao and other Chinese security executives added that most state-owned enterprises were building their overseas security capabilities from a low base.

"A lot of the larger state-owned enterprises have only just started to go out in the last few years. As such, overseas security work remains a blank space for those firms who had not gone out before," he said.Some Chinese experts said companies operating abroad were beginning to think more about the importance of safety.

"This is something Chinese companies need to study more," said Lu Guiqing, general manager of private builder Zhongnan Group and former chief economist at China State Construction Engineering Corporation.

"When you 'go out' safety is the most important. What's the point if you end up losing people?"

(Additional reporting by Joseph Campbell in BEIJING and George Ng'ang'a in NAIROBI; Editing by Mike Collett-White)

IFC International Finance : and CGDC Launch Corporate Secretary Club in Mongolia to Promote Good Governance www.4-traders.com

Mongolia: Petro Matad awarded PSC extensions for Mongolia Blocks IV and V www.energy-pedia.com

Mitsubishi Heavy doubling down on Areva with fresh investment www.asia.nikkei.com

TOKYO -- Mitsubishi Heavy Industries has reached a broad agreement to purchase about 15% of French nuclear energy giant Areva's reactor unit, venturing deeper into a business with uncertain prospects that has sent others pulling out.

The Japanese engineering firm and Electricite de France, the state-backed utility that has agreed to acquire reactor maker Areva NP, have reached a deal that will have Mitsubishi Heavy invest 40 billion yen ($366 million) for the stake. This would boost Mitsubishi Heavy's total investment in the Areva group to more than 70 billion yen.

EDF has turned to Mitsubishi Heavy, an existing Areva partner, for help pulling the nuclear energy company out of a financial pit. Areva had logged total losses equivalent to more than 1 trillion yen through 2016, marking its sixth year in the red amid mounting challenges such as delays in a Finnish nuclear power plant project.

China's state-owned China General Nuclear Power, which is developing reactors based on French technology and runs 19 power plants, is also in talks to take around a 15% stake in Areva NP. Sources close to the matter say a basic agreement is targeted for May, and that other companies could join the effort.

Areva recently cut money-losing operations loose and brought nuclear fuel cycle operations, including the fuel recycling business, together under NewCo. Mitsubishi Heavy and Japan Nuclear Fuel each paid 250 million euros ($268 million at current rates) for a 5% stake in the unit, in which the French government also holds a hefty interest. EDF is poised to acquire more than 51% in Areva NP, which handles such operations as large nuclear reactors.

In deep

Mitsubishi Heavy and Areva have been business partners since 2006, creating a joint venture that exports midsize nuclear reactors to developing nations. But the two have not broken ground on a new-model reactor since the meltdowns at Japan's Fukushima Daiichi power plant in March 2011, which spurred worldwide efforts to improve nuclear safety.

Mitsubishi Heavy President Shunichi Miyanaga has called further investments "safe," as "all risk has been isolated" with the spinoff of unprofitable businesses. But the Japanese partner may also be doubling down out of a sense that it is in too deep to pull out: "If we withdraw at this stage, we would be throwing away all of the money we spent developing new reactors," a source at the company said.

With large losses on its cruise ship operations and severe delays on delivery of its Mitsubishi Regional Jet, Mitsubishi Heavy hardly has money to spare toward risky investments. If the company is to expand involvement in the nuclear business, it will need to make sure the move pays off.

Recent developments are not encouraging for the industry. Vietnam last year scrapped plans for nuclear plants thought to be a sure win for Japanese builders. The feasibility study for a planned Turkish project is dragging on far longer than anticipated. Toshiba apparently was driven into negative net worth by enormous losses at its U.S. nuclear unit Westinghouse Electric. Germany's Siemens has pulled out of the nuclear business entirely, and others could do the same.