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HONG KONG STARTUP AIMS TO BEAT TESLA ON EV

A Taiwan-listed, Hong Kong-based electric vehicle startup - Thunder Power – today (Friday) proclaimed an ambitious goal for the future – to make the most desirable EV in China. “An obvious difference between us and Tesla is we have the key technologies before actually investing in manufacturing,” Wellen Sham, Thunder Power CEO, told wardsauto at a launch event in Shanghai. Thunder Power has filed more than 350 patent applications in the US and China, he said, and already had 70 of them granted. Among them is a lightweight modular chassis system, which ...
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QATAR GOVERNMENT HOPEFUL THAT GULF DIPLOMATIC ROW WILL NOT DAMAGE SGAS EXPORTS

THE QATAR government is hopeful that its recent diplomatic black-balling by other Gulf states over its supposedly liberal approach to Islamic activists will not damage its oil and gas production or exports. A Qatar ministry of energy and industry ministry spokesman has told the government-run Qatar News Agency: “We have no reasons to be concerned about gas supplies...This is a diplomatic row that should not result in an economic blockade.” Its optimism is backed by energy consultants, who told Petroleum Review that exports of Qatari gas via the Dolphin ...
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FINDING A WAY HOME FOR A WAVE OF MYANMAR REPATS

Myanmar human resources managers are facing a challenge managing a flood of qualified professionals return home from abroad in the past half-decade, with the country's government transitioning from military to civilian rule and opening up the economy. At first it may seem that Myanmar returnees – so called ‘re-pats’ – would be ideally placed to prosper in a local business environment. After all, most return with skills in areas such as tech, management or languages that are not common among the broader domestic population, while still understanding the ...
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EBRD LOOKS TO HELP EGYPT PIVOT TOWARDS SOLAR ENERGY

THE EUROPEAN Bank for Reconstruction & Development (EBRD)’s board of directors has approved 13 loans to develop solar energy in Egypt, lessening its dependence on gas, and making the most of its abundant sunlight. The projects are focused on Aswan province and the total funding will be USD500 million. The loans, which have been approved separately, including – for instance - financing of USD139.5 million for building three solar plants in Aswan, with a total output of 120MW. A spokesperson told Petroleum Review: “Overall, the 13 plants will generate ...
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CHINESE COMPANY DEVELOPS TEMPLATE FOR DEVELOPING MILLENNIAL TALENT

A COACHING conference in China has been told that traditional companies in Asia can do better in communicating with millennial staff members, but managers need to learn how to adapt. The good practice was outlined by Xie Jian, executive president of China’s top furniture retail chain Red Star Macalline Group (RSM) at a conference held in Shanghai on June 22 by the coaching service provider MindSpan. Participants heard how while Asian tech startups may not have much trouble dealing with millennial staff, as the founders themselves probably are just as young, ...
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CHINA’S NEW TWO CHILD POLICY HAS BOOSTED SALES – BUT WILL GROWTH BE SUSTAINED?

It is rare when the non-wovens sector can identify a government policy that has a real and direct major impact on its sales – but such is certainly the case with China’s new two-child policy – expected to create a major boost in Chinese sales of wipes and disposable nappies.  After the Chinese government in October 2015 announced it would on January 1, 2016, abandon the one-child policy it has followed since 1979, the world woke up to such memorable newspaper headlines as the International Business Times’ “China’s new two-child policy helps diaper ...
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HONGKONG EXPAT PAY AT FIVE YEAR LOW

IN HONG KONG, the average expatriate pay package for a middle manager has hit a five-year low - having fallen to USD 265,487 in 2016, from USD 270,618 in 2012. And this follows a dramatic increase in the number of workers (including expats) seeking to change jobs this year blaming low pay, industry experts warned quoting two separate surveys. Now companies need to “rethink recruitment strategy,” London-based global human resource consulting and expatriate management company ECA International’s regional director- Asia Lee Quane told People Management- ...
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CHINA’S NEW TWO CHILD POLICY HAS BOOSTED SALES – BUT WILL GROWTH BE SUSTAINED?

It is rare when the non-wovens sector can identify a government policy that has a real and direct major impact on its sales – but such is certainly the case with China’s new two-child policy – expected to create a major boost in Chinese sales of wipes and disposable nappies.  After the Chinese government in October 2015 announced it would on January 1, 2016, abandon the one-child policy it has followed since 1979, the world woke up to such memorable newspaper headlines as the International Business Times’ “China’s new two-child policy helps diaper ...
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AML REFORM LAW PROPOSED TO US SENATE THAT WILL PREVENT SMURFING ABUSE OF USD10,000 TRANSACTION THRESHOLD

LEGISLATION has been proposed in the USA Senate designed to prevent money launderers evade anti-money laundering controls by making a series of transactions each under the USD10,000 threshold sparking regulatory reports by financial institutions. The rule has been abused by launderers and a law proposed by Iowa Republican Senator Chuck Grassley and California Democrat Dianne Feinstein clarifies that USA AML controls should apply to a series of such payments. Factors that to be taken into account when deciding these were essentially one transaction split into ...
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NORWAY’S INDUSTRIAL MINERAL RICHES GENERATE SUSTAINABLE GROWTH, WHILE REGULATORS KEEP AN EYE ON ECO-CONTROLS

With an ever-increasing reliance on technology and global shift towards renewable energy to protect the planet’s resources, the Nordic industrial minerals sector finds itself at something of a crossroads in terms of sustainability. Home to some of the world’s largest reserves of minerals used in critical technologies, with a profitable future predicted, the industry is being closely monitored by Nordic regulatory authorities to ensure mining is conducted as ethically and sustainably as possible. In 2013, the Norwegian ministry of trade and industry produced ...
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