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Nissan to help develop new transport system in China's Suzhou city
TOKYO, NNA - Japanese automaker Nissan Motor Co. has signed a basic agreement with a local authority in Suzhou to help develop a new transport system in the eastern Chinese city. Nissan (China) Investment Co. and the Suzhou High-Speed Rail New Town administration signed a memorandum of understanding Monday under which Nissan will provide support for field testing to speed up intelligent transport initiatives in the Xiangcheng district of the city, located west of Shanghai. The partnership's joint projects will be overseen mainly by Alliance Innovation Lab-Shanghai, an autonomous driving resear...
NNA Business News
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Sumitomo Mitsui Trust Bank sets up consulting unit in China
TOKYO, NNA - Sumitomo Mitsui Trust Bank has formed a wholly owned subsidiary in Beijing to provide a wider range of consulting services to customers, mainly Japanese companies operating in China. Sumitomo Mitsui Trust Bank said Monday that SuMi TRUST Consulting (Beijing) Co. began operations the same day with the aim of meeting diverse customer needs by enhancing research capabilities in the Chinese market for the Tokyo-based bank. A Shanghai branch and a representative office in Beijing had earlier engaged in the bulk of activities in China for the bank, which operates under the wing of Sumit...
NNA Business News
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Toyota Tsusho invests in Thai bus operator ATP30 for smart mobility
BANGKOK, NNA - Japanese trading house Toyota Tsusho Corp. is acquiring an equity stake in ATP30 Public Co., a commuter bus operator for industrial estates in Thailand, to promote smart mobility for its services. Toyota Tsusho said last week that the trading arm of the Toyota Motor Corp. group is purchasing a 9.5 percent stake in ATP30 for 64.35 million baht ($2 million) through its local unit, Toyota Tsusho Thai Holdings Co. The acquisition procedure is set to be completed in early March, a Toyota Tsusho official said. The partnership will enable Toyota Tsusho to provide ATP30 with its mobilit...
NNA Business News
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Logistics, warehousing aiding slow recovery of Philippine property
By Darlene Basingan MANILA, NNA - The boom in e-commerce as well as the anticipated mass inoculation against COVID-19 will make logistics and warehousing properties the most stable real estate sub-sector this year in the Philippines, according to industry players. However, traditional property asset classes such as offices, retail space and homes will see only a slight recovery from the pandemic fallout by 2022. Kash Salvador, a director for investment and capital markets of estate agency Santos Knight Frank, told NNA, “Whereas before developers naturally have looked to traditional asset types...
NNA Business News
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Japan's JESCO to install electric gear for Sri Lanka airport expansion
NEW DELHI, NNA - Japanese engineering and construction company JESCO Holdings Inc. has won a contract worth some 3.5 billion yen ($32.9 million) to install electrical equipment for the expanded portion of a terminal building at Bandaranaike International Airport in Sri Lanka. JESCO said Wednesday its wholly owned subsidiary, JESCO Co., has been awarded the contract by Japanese construction giant Taisei Corp., a main contractor for the airport improvement project involving the expansion of the existing terminal. JESCO will be responsible for a main electrical network, outlets for lighting and a...
NNA Business News
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Japan's Denso to make advanced auto semiconductors in Malaysia
KUALA LUMPUR, NNA - Japanese auto parts maker Denso Corp. will start producing advanced automotive semiconductors in Malaysia as early as April following official approval of a fresh investment project. The Malaysian Investment Development Authority said in a joint statement with Denso on Wednesday that it has approved the 160 million ringgit (about $40 million) project by Denso's subsidiary, Denso Malaysia Sdn. Bhd., to expand its production capacity in Selangor state. Denso aims to establish a timely supply system and beef up production in Malaysia, where infrastructure is stable and the sem...
NNA Business News
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In uprising against Amazon, Indian traders want it banned, fairplay for e-commerce
By Atul Ranjan NEW DELHI, NNA - Local retail associations in India are up in arms again about alleged discriminatory practices by foreign e-commerce players which seem to favor a minority of big sellers rather than helping the millions of small businesses. The associations, which have long been demanding stricter regulations or even a ban on foreign-funded platforms like Amazon and Walmart's Flipkart, have raised a ruckus over revelations by Reuters last week that the Indian unit of Amazon had helped a small number of sellers prosper on its India platform by giving them discounted fees and hel...
NNA Business News
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Japanese gardening firm Takasho to open software unit in Philippines
TOKYO, NNA - Japanese gardening company Takasho Co. is planning to set up a subsidiary in the Philippines in August to create garden space designing apps and videos to promote its business. Takasho will take a 99.7 percent stake in Takasho Garden Life Design Lab Phil. Corp. in the province of Bulacan, near Manila, with a capital of 12 million pesos ($247,000), the company said in a news release Monday. To deal with restrictions due to COVID-19, the company is producing videos to help customers imagine garden space designs, including changes in seasons and differences in day and night, while de...
NNA Business News
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Trade agreements could help SE Asia attract big foreign investment again, lead recovery
By Celine Chen SINGAPORE, NNA - The new RCEP free-trade agreement could offer a promising investment boost in post-COVID recovery for countries in the Asia Pacific walloped by the pandemic, according to the United Nations Conference on Trade and Development (UNCTAD). In a report in January, UNCTAD said ASEAN could take advantage of RCEP or the Regional Comprehensive Economic Partnership to reinvigorate its ability to draw sizable foreign direct investments (FDI) after it plunged by 31 percent to $107 billion last year as flows to its largest recipients in the grouping weakened. The setback con...
NNA Business News
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Japanese IT solution firm TIS to invest in Thai DX business
BANGKOK, NNA - Japanese IT solution firm TIS Inc. has decided to invest in J Ventures Co., a digital transformation subsidiary of Thailand's Jay Mart Public Co., to expand its business in the Southeast Asian country. Under a capital and business tie-up with J Ventures, TIS, a member of TIS INTEC Group, will develop new businesses, acquire customers and further strengthen its DX platforms in Thailand, the Tokyo-based company said last Friday in a press release. According to a report filed by Jay Mart to the Stock Exchange of Thailand on Feb. 15, TIS will acquire some 2 million or 16.67 percent ...
NNA Business News
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