` Authorities of the Chinese Government Fined 652 Companies for Breaching Environmental Regulations ‘

#AceFinanceNews – BEIJING – May 05 – Authorities in the Chinese capital fined 652 industrial facilities for breaching environmental regulations in the first four months of the year as it stepped up efforts to fight pollution.

Beijing’s air quality has come under intense scrutiny since January last year, when heavy smog settled over the city to the alarm of its residents.

Premier Li Keqiang in March promised a “war on pollution” as the Chinese government seeks to address environmental issues that sparked complaints across the nation.

Beijing’s Environmental Protection Bureau handed out fines totalling 14.5 million yuan ($2.3 million) over the first four months of the year.

The Beijing Yueju Heating Company received the biggest fine of 200,000 yuan for manipulating emissions data for one of its coal-fired boilers.

The measures were taken after heavy smog settled over the city in January last year. Premier Li Keqiang in March promised a “war on pollution.”

Reuters – China cn – RT

#AFN2014

#beijing, #chinese

` Chinese Court Agrees to Release Seized Freight Ship for Payment of $39 Million in Dispute Dating Back Seven Decade’s

#AceFinanceNews – BEIJING – April 24 – A Chinese court released a seized Japanese freight ship Thursday after owner Mitsui OSK Lines agreed to pay about $39 million in a dispute dating back more than seven decades.

Including interest payments, Mitsui O.S.K. agreed to pay 4 billion yen ($39 million), the Kyodo News Service and other Japanese media said.

Chinese authorities seized the container vessel on Saturday, as ordered by the court, after Mitsui failed to pay compensation as ruled in an earlier lawsuit.

The Shanghai court said it levied the judgement against Mitsui based on the lease costs, operating loss and damage to the two Chinese vessels, which sank while in the hands of Mitsui’s predecessor Daido Kaiun.

The seizure and release of the boat came at a time when the relations between Beijing and Tokyo are tense over sovereignty claims over a chain of uninhabited islets in the East China Sea.

The Shanghai Maritime Court said that it freed Mitsui’s Baosteel Emotion after the company paid more than $28 million in compensation for two leased Chinese ships it lost in 1938 and 1944 and also court costs, AP reported.

Japanese government spokesman Yoshihide Suga downplayed the possibility that the settlement might encourage similar lawsuits by Chinese companies.

#AFN2014

#beijing, #chinese, #east-china-sea, #japanese, #shanghai

` China is looking at `Alternative Energy Projects in the Crimea ‘ meanwhile Gas Supplies are being Finalised ‘

#AceFinanceNews – Moscow – April 14 – China takes interest in alternative energy projects in Crimea, Russian Vice-Premier Arkady Dvorkovich.

“We also agreed (during talks in China) that we will look into new projects, including in our new regions. Chinese colleagues who deal with alternative energy, take interest in these projects in the Republic of Crimea,” Dvorkovich said at a session chaired by Prime Minister Dmitry Medvedev.

Gazprom’s contract on supplies of Russian gas to China would be finalized by the upcoming visit to China by Russian President Vladimir Putin, due in May, he said at a session chaired by Prime Minister Dmitry Medvedev on Monday.

Also Russia may increase electricity, coal supplies to China fourfold.
“Talks on gas are nearing completion, and there is a general intent to finish that work before Russian president’s visit,” he said.

Tass – Russian Media and Energy News Sources.

#AFN2014

#china, #chinese, #crimea, #energy, #gas, #moscow, #republic-of-crimea, #russia, #russian, #russian-president-vladimir-putin

` Chinese Insurance Companies have begun to offer Pay-Outs to the Relatives of Missing Boeing MH370 ‘

#AceFinanceNews – BEIJING – March 27 – Chinese insurance companies have begun to offer payouts to the relatives of the missing Boeing 777-200, news agency Xinhua reported on Thursday.

The firms begun offering insurance payments after Malaysian Prime Minister Najib Razak announced that the plane had probably fallen into sea with no survivors.

On Monday, the prime minister held a press-conference, where he said that the flight has been last registered on satellite images to the west of the Australian city of Perth in the Indian Ocean.

Najib added that the plane was too far from the place where it could land, so the most probable version was that it had crashed in the ocean.

As of today, China’s largest insurance firm China Life has already paid more than 4 million yuan ($666,000) to the relatives of 7 out of 32 passengers of the missing Boeing, who were clients of the company.

All insurance payments will stand at 9 million yuan ($1.46 million).

On Wednesday, China Pacific Insurance, registered in Shanghai, made the first insurance payment of 525,000 yuan ($87,500). The relatives of 9 passengers, clients of China Life Insurance Co, will receive up to 1 million yuan ($166,000).

Chinese and Malaysian News

#AFN2014

#beijing, #boeing, #china-life, #chinese, #indian-ocean, #mh370, #najib-razak, #perth, #shanghai, #yuan

` China's Yuan may become the World's `Third Reserve Currency ' says Managing Director and Chief Economist of Sberbank CIB '

#AceFinanceNews – BEIJING – March 23 – China’s yuan (renminbi) may become a third reserve currency in the world in the future, Managing Director and Chief Economist of investment company Sberbank CIB Yevgeny Gavrilenkov said at the 15th governmental Chinese economic development forum in the Chinese capital on Sunday.

“This forecast can be made on figures of domestic economic growth. Probably the country will keep high GDP growth rate and the GDP volume will increase to around 14-16 trillion U.S. dollars for a brief period of time, the indicators comparable to the European Union and the United States.

Meanwhile, Chinese securities are more attractable for the countries that have a surplus in economy, particularly the Middle East states, and China will obviously follow the path of securing the country’s assets,” the expert noted.

On January 23, 2012, Sberbank and Troika Dialog announced the closure of the deal for Sberbank’s acquisition of 100% of Troika Dialog’s equity capital.

As a result of the subsequent integration, the Corporate & Investment Business was created, which has been operating under the Sberbank CIB brand since October 8, 2012.

Sberbank CIB’s key areas of business are corporate financing, securities and derivatives trading, structured products, private equity investments, mergers and acquisition consulting, debt and equity capital procurement, as well as market research.

Ace Related News
1. March 1 – 12.15 GMT – Extract – #AceFinanceNews says that `Chinese Yuan can become dominant world reserve currency according to the latest surveyhttp://wp.me/pzTwj-2sn

#AFN2014

#beijing, #china, #chinese, #chinese-yuan, #european-union, #middle-east, #sberbank, #united-states

` Russia’s Biggest Billionaire has bought shares in `Alibaba ‘ after selling them in Apple and Facebook ‘

#AceFinanceNews Russia’s biggest billionaire has bought shares in big Chinese internet retailer Alibaba, after selling his stakes in US tech giants Apple and Facebook.

The deal comes as the West imposes sanctions on Russia, that could spread from politics to business.

Usmanov, 60, a founder of Russia’s iron ore Metalloinvest Holding Company, has an estimated fortune of $18.6 billion as of March 2014 and is increasing his bet on China, while selling American assets.

“Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign internet investments,” Ivan Streshinskiy, head of Usmanov’s asset-management company USM Advisors LLC, told Bloomberg in an interview in Moscow.

#AFN2014

#alibaba, #american, #apple, #bloomberg, #china, #chinese, #facebook, #metalloinvest-holding-company, #moscow, #russia, #russias, #us, #usmanov

` United States and Russia are `Top Arms Exporters ‘ taking ` Fifty Six ‘ Percent of the Market ‘

#AceFinanceNews – United States, Russia, Germany, China and France were the major arms suppliers over 2009-2013, goes the newly released report on arms trade by the Stockholm International Peace Research Institute (SIPRI).

The countries made up 74% of global weapon exports, with a 56% niche occupied by the US and Russia.

“Russia has maintained high levels of arms exports despite the crisis in its arms industry in the post-cold war period,” said senior researcher with the SIPRI Arms Transfers Program Siemon Wezeman.

“In 2009-13 Russia delivered major arms to 52 states. Russia’s most significant export in 2013 was that of an aircraft carrier to India.”

Russia has also become a major arms exporter to India with 75%, whereas the US follows with a huge 7% lag, for the first time down to the second place by supplies to India.

“Chinese, Russian and US arms supplies to South Asia are driven by both economic and political considerations,” said Wezeman. “In particular, China and the US appear to be using arms deliveries to Asia to strengthen their influence in the region.”

The report highlights a considerable increase in arms imports by the Arab states of the Gulf — 23% over 2008-2013, with Saudi Arabia up from 18th to 5th place among the major arms importers.
These are largely (45%) exported by the US.

According to SIPRI, Washington has clinched a number of major deals aimed to retain this level further on. For instance, last year the US government for the first time authorized US companies to supply the region with long-range air-launched cruise missiles.

#AFN2014

#asia, #china, #chinese, #france, #germany, #russia, #russian, #saudi-arabia, #stockholm-international-peace-research-institute-spiri, #united-states