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Showing posts from February 14, 2019

Cosco's Peru port buy latest in China's Belt and Road push

Deal adds South America to shipper's global network DAISUKE HARASHIMA, Nikkei staff writer  FEBRUARY 15, 2019 02:43 JST Cosco Shipping Ports, which has terminal operations around the world, is making its first foray into South America.    © Reuters DALIAN -- A Peruvian port will join  Cosco Shipping Holdings ' global network as the Chinese shipper continues investments under Beijing's Belt and Road initiative. Cosco Shipping Ports signed last month an agreement with Peruvian mining company Volcan to buy a 60% stake in the operator of Chancay terminal, a major hub on the coast north of the capital, Lima. The $225 million deal marks Cosco's first port purchase in South America. "The acquisition will not only help build our marine shipping network but also boost trade between China and Peru," said Chairman Xu Lirong. With water as deep as 16 meters, the port can accommodate enormous ships, according to Cosco. Plans are underway to build a new terminal at

Saudi Crown Prince to Announce $20B Investment Projects in Pakistan

Last Updated: February 13, 2019 9:55 AM Ayaz Gul FILE - Saudi Crown Prince Mohammed bin Salman attends the second day of the Future Investment Initiative conference, in Riyadh, Saudi Arabia. ISLAMABAD —  Saudi Arabia’s crown prince, Mohammed bin Salman, is set to make his first state visit to Pakistan on Saturday, where he is expected to announce investment projects worth up to $20 billion, a senior official told VOA. The unprecedented Saudi investment is being viewed by Prime Minister Imran Khan’s nascent government as a major boost for cash-strapped Pakistan, which is facing an economic crisis and balance of payments pressure. It will also send a strong message to other international investors to come to Pakistan, said Haroon Sharif, who chairs Pakistan’s Board of Investment, (BoI) which promotes and facilitates investors. “At this stage, we are expecting serious Memorandums of Understanding [for concrete projects] between $15 billion to $20 billion worth of investments from

CHINA: Party center launches APP to track officials

TRIVIUM CHINA The propaganda authorities have launched a new APP for officials  – Xuexiqiangguo (学习强国) – which can be read as “Study to make the country strong” or “Learn from Xi to make the country strong.” The APP contains speeches by Xi, news, movies, and even songs – all picked by the Party center to educate officials on the Party line (Xuexi.com). The APP tracks which officials are most engaged: It requires real name registration. It tracks how much time users spend looking at content, how much commenting they do, and how much they share the content. Users then receive scores based on how much they interact with the APP. What we’re hearing:  The Organization Department is tracking everybody’s scores – implying that they will be used in performance evaluations. The whole thing is ideology czar Wang Huning’s idea.  Wang personally launched the APP last month (Xinhua). But guess who developed the APP and operates it?  Alibaba! (see link) Our thought:  Lower level officials