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Private equity backed M&A is back in action. Mahindra & Mahindra, in partnership with Kotak Private Equity, has acquired majority stakes in Australia based aerospace companies Aerostaff Autralia and Gippsland Aeronautics. The total deal size stands at about Rs 175 crore.
The company will retain the existing management of both the aerospace companies. This is not the first time that Mahindra is strengthening itself into another space with the backing of a PE fund. In 2008, it acquired a 100% stake in Metalcastello S.p.A, a leading Italian independent gear manufacturer with the backing of ICICI Ventures Funds. |
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Wednesday 16 December, 2009 08:29 AM |
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Is Indian software industry fast losing its low-cost destination advantage? So it may seem. According to the 2009 EE Times Global Salary and Opinion Survey, Engineers' salaries in India and China have risen at a pace faster than that in Japan, North America, and some of their European counterparts. |
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Monday 14 December, 2009 04:55 AM |
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The Karachi Port Trust (KPT) has awarded the contract for marine protection works at the Pakistan Deep Water Container Port to a Chinese company, at a cost of Rs12.8 billion.
The deep-sea container terminal, being built at a total cost of $1.6 billion, would become operational by 2013.
A signing ceremony in this regard was held here wherein the KPT chairperson Nasreen Haque and China Harbour Engineering Company president Sunziyu inked the contract. Federal minister for port and shipping Babar Khan Ghauri witnessed the signing ceremony on late Wednesday evening. |
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Friday 11 December, 2009 01:41 PM |
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American firms are welcome to further invest in Malaysia, especially in technology-driven industries, that can help boost the country's growth in line with the government's drive to move up the high-income economy ladder by 2020.
Malaysian Industrial Development Authority (MIDA) chairman Tan Sri Dr Sulaiman Mahbob said over the years American investors in Malaysia had continued to show their strong confidence and commitment to their investments in the country. |
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Friday 11 December, 2009 09:39 AM |
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India has become the most sought destination for investment by Japanese companies, next to China and ahead of other Asian countries and emerging economies like Russia, Brazil, Mexico and even the US and UK.
According to a recent survey by the Japan Bank for International Cooperation (JBIC) covering 620 leading Japanese manufacturing companies, 278, or 58 per cent, wanted to do business with India in the medium term, behind 74 per cent for China. The next best destination for Japanese manufacturers after India is Vietnam, way below with 31 per cent support. |
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Monday 7 December, 2009 10:19 PM |
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A 30-second TV commercial remains a hot topic in China nearly two weeks after four Chinese industry associations launched a "Made in China" ad campaign on the CNN news network.
The ad, currently airing on the International, U.S. and Headline News channels of the CNN, highlights international involvement in producing high-quality Chinese goods. |
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Sunday 6 December, 2009 10:36 AM |
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Pöyry's new vision is to become "the global thought leader in
engineering balanced sustainability for a complex world". The company
intends to be an agenda setter in this respect in the sectors it
serves.
Pöyry will realign its business structure to better enable the new
vision. At the same time, Pöyry announces its management team
effective 1 January 2010. |
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Wednesday 2 December, 2009 04:27 PM |
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Prime Minister Stephen Harper arrives in China tomorrow on a "charm offensive" to reverse a season of neglect. Relations with the People's Republic have drifted on his watch, even as sheer market forces have made China our second biggest trading partner, with $53 billion in two-way trade. The partnership needs some sprucing up.
But as U.S. President Barack Obama has discovered, it isn't easy to woo China's leaders without inviting domestic criticism. During his own recent trip, Obama was hammered at home for appearing overly deferential, for winning no concessions on Beijing's undervalued currency, and for pulling his punches on human rights. |
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Wednesday 2 December, 2009 10:13 AM |
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U.S. elected officials accused China on Tuesday of stealing American jobs and urged a government trade panel to fight back by approving steep duties on Chinese-made steel pipe used in oil and gas production.
"This country has been a patsy for too long and we are the getting the you-know-what kicked out of us," Pennsylvania Governor Ed Rendell told the U.S. International Trade Commission at a hearing in the final phase of the biggest U.S. trade remedy case to date against China. |
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Wednesday 2 December, 2009 07:15 AM |
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The trouble is, the jobs just aren't there and many aren't coming back .
That's not just a huge economic problem for President Barack Obama — but a serious political one, too, as bailed-out Wall Street roars back while the already bleak U.S. unemployment rate grows worse.
The jobs forum that Obama will host at the White House on Thursday is an acknowledgment that employment is not bouncing back as quickly as it used to after recessions. It's an opportunity for the president to show that he's engaged and on the job of finding jobs. |
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Tuesday 1 December, 2009 10:10 PM |
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With automakers Renault, Volkswagen and Harley Davidson planning to outsource their complex design engineering projects to India, the engineering services outsourcing industry is set to clock USD 55 billion in revenues by 2020. |
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Tuesday 1 December, 2009 08:00 AM |
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I read this article and thought ah ah, yes this all makes sense. And then I scrolled down to the bottom and started to read the comments. Read it yourself and you decide ........ In my column this morning on manufacturing (Shock news – Britain still makes things) I didn’t have space to mention one other important misconception about manufacturing: that just because something is “made in China” or somewhere else in the emerging world doesn’t necessarily mean that the money from its construction goes to that place alone. This helps explain why, in broad terms, a developed economy does not need a trade surplus (or even a balance) in order to survive. |
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Sunday 29 November, 2009 09:10 AM |
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Speech by Ms. Grace Fu, Senior Minister of State , Ministry of National Development and Ministry of Education, at the International Science Education Conference 2009 on Tuesday, 24 November 2009, at the National Institute of Education. |
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Wednesday 25 November, 2009 03:46 PM |
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Remember the whole "Freedom Fries" thing following France's refusal to support the US 2003 military incursion into Iraq? My how time flies. US politicians now cite the French energy policy example with excitement; claiming that nation's high reliance on nuclear power is exemplary. (Inference that support for climate and energy legislation is more likely if nuclear power expansion incentives are included.) It doesn't seem to matter to that France is roughly the size of Texas and that the existing US nuclear fleet already is far larger than what France has or will ever have. Nor, that the French government controls the nuclear power industry (socialized electricity). |
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Monday 23 November, 2009 10:07 AM |
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Now, here is a headline for you to get your mind around Consulting firm Booz & Company on Tuesday said the Indian engineering services outsourcing (ESO) industry will achieve $50 billion in revenues by 2020, and generate employment for 25-30 million professionals for delivering these services.
Currently, India exports engineering services worth $7-9 billion annually, Booz & Company said at the Nasscom global engineering summit in Mumbai
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Wednesday 18 November, 2009 02:46 PM |
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President Barack Obama says he wants to "rebalance" the economic relationship between China and the U.S. as part of his plan to restart the American jobs machine. "We cannot go back," he said in September, "to an era where the Chinese . . . just are selling everything to us, we're taking out a bunch of credit-card debt or home equity loans, but we're not selling anything to them." He hopes that hundreds of millions of Chinese consumers will make up for the inability of American consumers to return to debt-binge spending. |
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Tuesday 17 November, 2009 11:09 AM |
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President Obama told a group of Pacific trading partners yesterday that he favors free trade. They were happy. They should be. Should we be happy?
In theory we should. Free trade is good. We were founded on the ideals of a free market and that market has grown from a community economy to a regional one to a national one to an international one to a truly global one. We are all part of the same market. We make and sell and we buy goods globally. U.S. companies produce at home for domestic and export needs (the international phase) but we also increasingly make things abroad for foreign markets (the global phase). |
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Monday 16 November, 2009 12:30 PM |
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South Korean businesses operating in the joint economic zone in the North Korean border town of Gaeseong have seen an increase in demand for their products since the North eased border crossing restrictions in August.
But employers there appear less than thrilled by the news due to labor shortages |
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Wednesday 11 November, 2009 12:52 PM |
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In a possible sign of the recession's diminishing impact, a multi-million dollar contract will require that Melbourne-based BRPH begin hiring again.
"We will be adding some additional staff," BRPH president and CEO Brad Harmsen said Monday.
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Tuesday 10 November, 2009 03:36 PM |
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General Motors Company announced that the automaker and its joint ventures in China today surpassed 1.5 million units in sales for 2009. With a strong October, the GM China family continued its string of record monthly sales that began at the start of the year.
“This has been a year of records for GM in China,” said Kevin Wale, President and Managing Director of the GM China Group. “It is GM’s priority to put the customer at the center of everything we do. This is reflected in our vehicle design, engineering and production.” |
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Tuesday 10 November, 2009 12:39 PM |
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