Monday, May 21, 2012

Investment News and Commentary from Emerging Markets in Asia - China, India and ASEAN





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2point6billion.com discusses investment news and events from the emerging markets of Asia - including India, China and the ASEAN countries. It is produced by the Asian foreign direct business advisors at Dezan Shira & Associates from their offices across emerging Asia.



Energy

Brutal Mekong River Attack, Myitsone Dam Strain China-Myanmar Relations

By Julia Gu

Oct. 12 – An attack on two Chinese cargo ships has left 12 Chinese citizens dead and one missing on the Mekong River near the borders of Thailand and Myanmar, Xinhua reported on Sunday, noting that the attackers were drug traffickers.

The attack on the Chinese cargo ships occurred in Southeast Asia’s Golden Triangle area with the bodies of the crew members being found near Chiang Rai in northern Thailand on Friday and Saturday. Most of the victims had been bound and blindfolded with adhesive tape, the report said. Later, Thai police found two cargo vessels loaded with over 9 million amphetamine pills (an illegal drug better known as “speed”) worth US$3.22 million, as well as garlic, apples and fuel. Continue reading

Posted in Culture & History, Energy, Featured, Foreign Trade, Politics | Tagged , , , , , , | 2 Comments

India, Vietnam Set to Go Ahead with South China Sea JV

Sept. 29 – Dismissing China’s recent comments strongly condemning Vietnam and India for planning oil and gas exploration in the disputed South China Sea region, India’s state-run oil firm ONGC Videsh Ltd. has said it would go ahead with its planned operations in the region.

“Energy security is among our top priorities. ONGC Videsh Ltd. has been there in Vietnam for the past 10 years. Now it is planning to sign an MoU for strategic cooperation to take the ties with Petro Vietnam forward,” said an Indian official. Continue reading

Posted in Energy, Foreign Trade, Mining, Politics | 3 Comments

India, China Vie for Australian Coal Fields

Sept. 21 – China and India, two emerging Asian giants boasting huge populations and rapid economic growth, are seen as the major drivers in the push to revive the world’s economy. However, the two countries’ needs for natural resources is growing at the same speed as their economies and, in an attempt to satisfy those needs, China and India have started a fierce competition to acquire natural resources.

The latest example of this is both countries’ interest in Australia’s second largest coal field – the northern Galilee Basin in Queensland. Although production on the field won’t begin for another three years, Indian and Chinese companies have already contracted all but 1.2 billion of the more than 20 billion tons of coal resources in the basin. Continue reading

Posted in Business, Energy, Featured, Foreign Trade, Mining | 2 Comments

Beijing Demands India and Vietnam Stop Oil Joint Venture in South China Sea

Sept. 16 – China, seemingly forgetting its policy of non-interference in other states’ affairs, has begun a public dialogue with India objecting to an agreement signed between India’s state-owned Oil and Natural Gas Corporation (ONGC) Videsh Limited and Vietnam’s Petro Vietnam for oil and gas exploration in the South China Sea.

Petro Vietnam has entered into a joint venture with India’s ONGC to develop Blocks 127 and 128 after ONGC bought BP’s assets in the project in 2006. However, China is claiming all of the South China Sea as its “indisputable sovereignty,” a position that would take China’s territory right up to the Vietnamese coastline. Continue reading

Posted in Business, Energy, Featured, Foreign Trade, Mining, Politics, Shipping & Logistics | 6 Comments

China Leads the Way in H1 Wind Energy Development, India Catching Up

By Vivian Ni

Sept. 5 – Who says wind power is a premium technology only for rich countries? Nowadays, emerging countries are catching up and even leading the way forward in the world’s wind energy development. Over the past six months, China and India – together with the United States, Germany, and Spain – contributed to the lion’s share of the global wind capacity. China’s rapid wind power growth has been met with apprehension among European turbine makers, who are starting to see that Chinese turbine suppliers may eat away at their regional market share.

A recent half-year report issued by The World Wind Energy Association (WWEA) says the world market for wind energy has regained momentum after a weak year in 2010, seeing the global wind capacity increase by 18.4 gigawatts over the past six months and reach a total of 215 gigawatts by the end of June this year. Continue reading

Posted in Business, Energy, Featured, Markets | 1 Comment

China Could Face Obstacles in a New Libya

Aug. 25 – Right after Qaddafi’s army was driven out of Tripoli, China received a warning from Abdeljalil Mayouf, a manager of the rebel-controlled Arabian Gulf Oil Company, that China, Russia and Brazil, in contrast to many Western nations, could face political obstacles in returning to business as usual once Qaddafi had been removed from power.

China, Russia and Brazil, as well as India and South Africa, did not support NATO airstrikes aimed at defeating Qaddafi or providing military aid to the rebels.

After the fall of Qaddafi’s compound in the capital Tripoli, the Chinese government must turn to the rebel National Transitional Council (NTC) to preserve its investments in Libya. Continue reading

Posted in Energy, Featured, Politics | Leave a comment

ConocoPhillips ‘Admits’ to Further Oil Leaks in Bohai Bay

Aug. 22 – On August 20, the China North Sea subsidiary of U.S.-based energy giant ConocoPhillips “admitted” that nine new oil spill sources were found on the northwest side of Platform C of the Penglai 19-3 oilfield in Bohai Bay, according to the North China Sea Branch of the State Oceanic Administration (SOA).

Other leaks had been discovered in June and early August at the same oilfield – which is operated in cooperation with state-run China National Offshore Oil Corp. – and now the amount of spilled oil has increased to 2,500 barrels, as the leaks have not been effectively dealt with. The oil has contaminated 4,250 square kilometers of sea, causing severe environmental damage. Furthermore, fishermen in the coastal provinces of Shandong, Hebei and Liaoning have suffered heavy economic losses as a result, state media reported. Continue reading

Posted in Business, Energy, Featured, Foreign Trade, Mining | Leave a comment




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