GlobalEconomic GlobalEdition

May 22, 2022

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Maruti Suzuki to invest Rs 20,000 crore in new plant in Haryana

2022.05.20 09:56

India's largest carmaker Maruti Suzuki has decided to set up new manufacturing plants in Haryana with an investment of around Rs 20,000 crore. Haryana Government has allocated 900 acres of land to Maruti Suzuki for the new plants.Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) and Maruti Suzuki India Limited (MSIL) and Suzuki Motorcycle India Private Limited signed agreements for land for the proposed manufacturing units. Maruti Suzuki's new plants are to be set up at 800 acres site at IMT Kharkhoda in Sonipat district of the state. Hundred acres of land ha
Samsung C&T sells Romania solar power plant to focus on North American market

2022.05.20 09:45

Samsung C&T has sold its solar power plant in Romania to Portugal’s company. According to industry sources on the 19th, a Portuguese company GreenVolt has acquired the Romania solar power plant that was owned by Samsung C&T and other global companies. GreenVolt estimated the value of the plant at 83 million euros (about 107 billion won). It reportedly includes acquisition prices and costs. An official from Sansung C&T said, “In order to focus our business on the North America market, the company has decided to sell the solar power plant in Romania.”
Hyundai Glovis to enter ASEAN logistics market starting with Thai subsidiary

2022.05.20 09:43

Hyundai Glovis [086280] will speed up targeting the ASEAN market starting with Thailand.Hyundai Glovis has recently established a subsidiary in Bangkok, Thailand, and hold an opening ceremony with Hyundai Glovis CEO Kim Jung-hoon and Thailand’s CP Group Vice Chairman Korsak Chairasmisak attending. The Thai subsidiary“Hyundai Glovis Logistics Thailand” is a joint venture established with Thai local automobile parts suppliers and logistics companies.As the Thai government limits foreign investment equity in the logistics sector to less than 50%, foreign companies can enter the market only as
Lotte Chemical to invest 10 trillion won in hydrogen and battery businesses by 2030

2022.05.20 09:42

Lotte Chemical will invest 10 trillion won in hydrogen energy and battery material business by 2030 for future growth. In particular, it aims to become a global battery material giant by expanding its investment in battery material business in the U.S., where the electric vehicle (EV) market is rapidly growing.Lotte Chemical announced the “Lotte Chemical Vision and Growth Strategy 2030” at Lotte World Tower, Songpa-gu, Seoul, on the 19th, with executives, including Kim Kyo-hyun, vice chairman of Lotte Group’s chemical business, attending. Lotte Chemical’s vision 2030 includes financial goa
Industry Ministry says S. Korea’s joining in IPEF is to resolve supply chain issues

2022.05.20 09:40

South Korean Ministry of Industry explained the reason why Korea is pushing for joining in the Indo-Pacific Economic Framework (IPEF) is continued global supply chain issues caused by Covid-19 pandemic. “After the COVID-19 pandemic, the global logistics industry put more value on ‘resilience’ than ‘efficiency,’” said the industry ministry said on the 19th. “South Korea will join the IPEF to strengthen the resilience to flexibly respond to climate change, supply chain risks, and pandemic.”It continued, “If we join the IPEF, it will be enable to build a comprehensive regional economic c
Tencent releases sustainable social value report

2022.05.19 09:50

SHENZHEN-HEADQUARTERED tech giant Tencent released its Sustainable Social Value (SSV) Report 2021 on Monday, unveiling its explorations and practices in the area of sustainable social value innovation last year, Shenzhen Economic Daily reported.The report, Tencent’s first on sustainable social value, disclosed that the firm had invested over 120 billion yuan (US$17.7 billion) in R&D, with an average annual growth rate exceeding 30% over the past three years.The company plans to invest 10 billion yuan in basic scientific research in the next 10 years, funding 200 to 300 outstanding scientists
GBA’s 1st hydrogen fuel delivery e-bikes in us

2022.05.19 09:48

THE first hydrogen-powered takeout e-bike commercial project in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) was put into operation in Dalang Subdistrict, Longhua District, Shenzhen Special Zone Daily reported.The project was pioneered by the Longhua District Development and Reform Bureau, high-tech company AE&M, and food delivery giant Meituan.A hydrogen-powered e-bike can run up to 120 kilometers on one charge and can reduce carbon dioxide emissions by 225.4 kilograms per 10,000 kilometers in a year compared with a portable e-bike.It uses AE&M’s hydrogen fuel cell technology and Mei
Bharti Airtel Q4 profit surges 165 per cent to Rs 2,008 crore

2022.05.18 09:53

Telecom firm Bharti Airtel on Tuesday reported a consolidated net profit of Rs 2,008 crore for the quarter ended March 2022 as compared to Rs 759 crore profit recorded in the corresponding period of the last year, posting year-on-year growth of 165 points.The company's profit has surged 142 per cent quarter-on-quarter basis. Bharti Airtel posted Rs 830 crore net profit during the third quarter of 2021-22. The company's consolidated revenues for the fourth quarter of 2021-22 surged by 22.3 per cent to Rs 31,500 crore."This has been another quarter to cap a full year of consistent and competitiv
Entrepreneur links Japanese innovators with SZ supply chain

2022.05.18 09:46

WHILE Japan’s consumer electronics market is dominated by globally renowned giants such as Sony, Panasonic and Hitachi, some startups founded by young IT talents are still trying to share the spoils through developing more creative products.Behind the work of these young talents, there enters Jenesis Shenzhen Co. Ltd., a Shenzhen-based electronics company that utilizes the city’s supply chain to help transform those IT talents’ bold ideas into products.Founded by Junichi Fujioka, a Japanese expat who has been in Shenzhen for around 18 years, the company specializes in the research, developm

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Industry Ministry says S. Korea’s joining in IPEF is to resolve supply chain issues

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