Latest news with #ChineseInvestment
Reuters
7 days ago
- Business
- Reuters
Samoa dissolves parliament after leader unable to pass budget
SYDNEY, May 28 (Reuters) - Samoa's parliament will dissolve on June 3 and the Pacific Island nation will hold an election at an unspecified date, Prime Minister Fiame Naomi Mata'afa said on Wednesday. Fiame was unable to gain enough support to pass budget legislation in parliament on Monday and said in a statement that she had advised Samoa's head of state, Afioga Tuimalealiifano Vaaletoa Sualauvi II, that parliament should be dissolved. A dissolution notice was signed and gazetted on Wednesday. Fiame was elected in 2021, one of the Pacific's few female leaders, and faced a months-long court battle when the incumbent who had held power for two decades disputed the result. Unlike her predecessor, Fiame was sceptical of Chinese investment, and raised the international profile of the nation of 200,000 people by hosting the Commonwealth Heads of Government Meeting last year. Fiame was expelled from her political party, FAST, in January in a factional dispute.
Bloomberg
27-05-2025
- Business
- Bloomberg
Cerberus Eyes Chinese Firm's Darwin Port, the Australian Says
US private equity firm Cerberus Capital Management LP is preparing a bid for the strategically-important Port of Darwin, currently owned by Chinese firm Landbridge Group, The Australian newspaper reported. Cerberus is readying a proposal to buy the 99-year lease from Landbridge at a price slightly above the A$506 million ($328 million) the Chinese company paid for it in 2015, the newspaper said late Monday. Landbridge is possibly open to offers around A$1 billion, The Australian cited an unidentified official as saying.
Yahoo
24-05-2025
- Business
- Yahoo
Brazil's president seeks ‘indestructible' links with China amid Trump trade war
The Brazilian president, Luiz Inácio Lula da Silva, has heralded his desire to build 'indestructible' relations with China, as the leaders of three of Latin America's biggest economies flew to Beijing against the backdrop of Donald Trump's trade war and the profound international uncertainty his presidency has generated. Lula touched down in China's capital on Sunday for a four-day state visit, accompanied by 11 ministers, top politicians and a delegation of more than 150 business leaders. Hours later Colombia's president, Gustavo Petro, arrived, making a beeline for the Great Wall of China and declaring his desire for the South American country to not 'only look one way' towards the US. 'We have decided to take a profound step forward between China and Latin America,' Petro said. Chile's Gabriel Boric has also travelled to Beijing to attend Tuesday's meeting between members of the Community of Latin American and Caribbean States (Celac) and Chinese representatives. Addressing hundreds of Chinese and Brazilian business chiefs in the Chinese capital on Monday, Lula hit out at Trump's tariffs, saying he could not accept the measures 'that the president of the US tried to impose on planet Earth, from one day to the next'. The Brazilian leftist said he hoped to build an 'indispensable' relationship with China – already Brazil's top trading partner – and heaped praise on his Communist party hosts as his officials announced $4.6bn (£3.5bn) of Chinese investment in their country. On Tuesday, Lula is scheduled to meet China's leader, Xi Jinping, who is expected to return the visit in July, when Xi travels to the Brics summit in Rio. 'China has often been treated as though it were an enemy of global trade when actually China is behaving like an example of a country that is trying to do business with countries which, over the past 30 years, were forgotten by many other countries,' said Lula, who is expected to seek major Chinese investments in Brazilian infrastructure projects. The visit of the three South American leaders to China underlines the east Asian country's rapidly growing footprint in a region where, over the past 25 years, it has become a voracious consumer of commodities such as soybeans, iron ore and copper. Chinese companies have also poured into the region. Electric cars made by the Chinese manufacturer BYD can be seen cruising the streets of Brazilian cities, from Brasília to Boa Vista, deep in the Amazon. The visits also come amid global jitters over Trump's volatile presidency and Latin American anxiety and suspicion over the US president's plans for a region where he has threatened to 'take back' the Panama canal – by force if necessary. Matias Spektor, an international relations professor at the Getúlio Vargas Foundation, a Brazilian thinktank and university, said the presence of the three South American presidents in Beijing underscored how, in the Trump era, with the US in retreat, such leaders were increasingly reaching out to other parts of the world. Related: US-Panama relationship was 'very strong'. Then Trump upended the diplomatic playing board 'It tells us that countries around the world are willing to go out … to exploit all the opportunities that are there in the international system – and there are many. Because, as America turns away from free trade and as America adopts a policy that is … instead of transactional, predatory – countries have an incentive to engage with those who are transactional,' Spektor said, pointing to recent trips Lula made to Japan and Vietnam. '[Lula] is very proactively trying to open trade for Brazil at a time when America is undoing the previous rules of the game, and the new rules of the game are not yet born … These [Latin American] countries want to shape the norms that are likely to emerge now. And those rules are not going to emerge in Washington DC. They are going to be made globally,' Spektor added. Spektor said Latin American leaders such as Lula had long considered the world a multipolar place. 'What happened on 20 January [with Trump's return to power] is that the barrage of policy change coming from Washington DC has accelerated the belief that was already in place that the axis of global power has for a while been moving towards the east, and somewhat towards the south.'
Globe and Mail
21-05-2025
- Business
- Globe and Mail
How Egypt became a hotspot for Chinese investment
GUANGZHOU, China , May 21, 2025 /CNW/ -- News report from GDToday: In Egypt , the presence of Chinese brands is obvious. Companies like GAC, Midea, OPPO, Huawei, Transsion, and BYD have invested heavily in the country. China is now one of the country's fastest-growing and most active investors. Why do Chinese companies so invest in the African country? And how are locals benefiting from this? In this episode of China Xplained, we'll search for the answers.
Zawya
20-05-2025
- Business
- Zawya
Egypt attracts $8bln in Chinese investment from 2,800 companies
Arab Finance: The number of Chinese companies operating in Egypt has reached approximately 2,800, with total investment costs exceeding $8 billion, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), stated. Heiba's remarks came during his meeting with Wang Weizhong, Governor of Guangdong Province, along with a number of officials from Chinese companies seeking to invest in the Egyptian market. The government is devoting special attention to Chinese investments, as they aim to transfer Chinese technology to Egypt and provide labor-intensive employment, Heiba noted. He revealed that the GAFI plans to establish a complete Chinese textile city in Minya Governorate, adding that three Chinese companies were granted golden licenses to operate in Egypt. The two sides discussed the investment cooperation agenda for the second half (H2) of 2025, which includes the Ministry of Investment and Foreign Trade's participation in the World Economic Forum, which will be held in Tianjin from June 24th to 26th. Furthermore, the Egyptian-Chinese Investment Forum will be held in Cairo next July, with the participation of Chinese Vice Minister of Commerce and International Trade Wang Shouwen. On his part, Feng Xingya, Chairman of Guangzhou Automobile Group (CAG), unveiled the company's plans to invest $300 million for establishing an automotive factory in Egypt to meet local market needs and export. Xu Ziyang, CEO of ZTE, rolled out plans to expand the company's business in the Egyptian market and localize Chinese technology in the country. This comes amid high demand from Egyptian telecom firms for developing the telecommunications infrastructure. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
