Events
Name | organizer | Where |
---|---|---|
”ТОКИОГИЙН ЗАГВАРЫН ЕРТӨНЦ” ҮЗЭСГЭЛЭН ЯАРМАГ | RX Japan | Tokyo |
NEWS
ASEAN companies look to strike it rich in the neighborhood www.asia.nikkei.com
VIENTIANE -- Companies in ASEAN countries are on an investment spree in the region. Sensing opportunities in Southeast Asia's expanding consumer markets and ongoing infrastructure development, they are rushing to build factories and make acquisitions.
Companies from the Association of Southeast Asian Nations overtook their European counterparts in 2015 to become the biggest investors in the region by value for the first time in three years. That investment should help sustain economic growth regionwide.
The five-story Myanmar Plaza, which opened last December in Yangon, is a showcase for famous domestic and foreign brands, including German sportswear maker Adidas. Myanmar's first modern shopping mall is thronged with buyers from the country's swelling middle class.
The mall was built by Vietnamese real estate developer Hoang Anh Gia Lai. Next door, an office building has already been completed. An upscale condominium building is scheduled to go up by 2018. In all, $440 million will be invested in the complex.
Buying time
U.K. research company Euromonitor estimates ASEAN's retail market will expand by about 20% between 2015 and 2020 to $588.3 billion. Companies are piling in, trying to get a piece of the action.
Boon Rawd Brewery, a Thai maker of alcoholic beverages best known for its Singha beer, is pushing into Vietnam, investing a total of $1.1 billion in a food company and a beverage producer that are part of local conglomerate Masan Group. Vietnam Dairy Products, the biggest dairy maker in the country, in May began production in neighboring Cambodia.
According to a report issued Sept. 6 by the United Nations Conference on Trade and Development, investment in the ASEAN region totaled $119.9 billion in 2015, down 8% from the previous year but still the third-largest year on record. ASEAN companies accounted for nearly 20% of the total, taking the top investor spot from European companies, which had held the position for two years through 2014.
ASEAN companies are likely to continue their cross-border expansion, becoming serious competitors to Japanese companies operating in the region.
Conference of Asian Scientists on green development to round up www.en.montsame.mn
Ukraine seeks Chinese investment to revive the world's biggest plane www.rt.com
US media firm Liberty Media to buy Formula 1 www.bbc.com
US firm Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn (£3.3bn).
The move ends years of speculation about the ownership of the company.
Bernie Ecclestone will remain as chief executive but Chase Carey, vice-chairman of 21st Century Fox, will become the new chairman.
Liberty Media has stakes in several sports and entertainment businesses, including the Atlanta Braves Major League Baseball club.
Owned by the billionaire John Malone, Liberty will initially purchase a minority stake in the world's leading motor-racing championship. A full takeover is planned if regulators approve the deal.
"We are excited to become part of Formula One," said Greg Maffei, chief executive of Liberty Media.
"We think our long-term perspective and expertise with media and sports assets will allow us to be good stewards of Formula One and benefit fans, teams and our shareholders."
Ecclestone said: "I would like to welcome Liberty Media and Chase Carey to Formula One and I look forward to working with them."
The total transaction values the firm at $8bn but includes $4.1bn worth of Formula 1's debt.
Liberty Media is buying the stake from the private equity firm CVC Capital.
CVC has held a stake for the past decade but sold some of its holding in 2012. It has been criticised for taking considerable profits from the sport, which has suffered from falling TV ratings in recent years.
Seminar on supporting public diplomacy between Mongolia-S.Korea held www.en.montsame.mn
China's green finance presents massive chances for global investors www.xinhuanet.com
Loss of Russian market costs Ukraine $15bn www.rt.com
Australia's economy toasts 25 years without recession www.asia.nikkei.com
World Bank welcomes policy adjustment measures, calls for fiscal discipline while protecting the poor www.mongolia.gogo.mn
Sport and Decapitated Goats: Let the Nomadic Games Begin The World Nomad Games come to Kyrgyzstan www.themoscowtimes.com
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