Media Focus on Multinational Corporations[2021.07.12]






Huawei to invest $150m in talent development

Huawei Technologies Co said it plans to invest $150 million in digital talent development over the next five years, as the Chinese tech heavyweight aims to help contribute to digital empowerment.

The plan was unveiled on Thursday as the company released its 2020 Sustainability Report, highlighting the company's progress in its digital inclusion, security and trustworthiness, environmental protection, and a healthy and harmonious ecosystem.

Liang Hua, Huawei's chairman, said, 'Digital skills and literacy are not just the foundation for the digital economy; they are also a basic human right defined by the United Nations.'

'Huawei's Seeds for the Future Program 2.0 will help college students and young people improve their digital skills. The program is expected to benefit more than 3 million additional people,' added Liang.

Huawei is committed to helping develop digital talent in the countries where it operates. In 2008, Huawei began to roll out talent development programs through scholarships, technology competitions, and digital skills training, and has invested more than $150 million in these programs, benefiting more than 1.54 million people from over 150 countries.



Westwell's AI hits pay dirt with port apps

After six years of rapid development, Shanghai Westwell Information and Technology Co, which specializes in artificial intelligence or AI-enabled applications, boasts 80 clients in nine countries participating in the Belt and Road Initiative.

Westwell has earned for itself quite a reputation for its full-stack intelligent port solutions and driverless container trucks.

Expertise in such niches has driven its business growth-up more than 300 percent annually. Overseas business has contributed roughly half of its total revenues and profit, said Zhang Rong, chief operating officer of Westwell.

'We've ridden the wave of explosive development of the driverless automobile industry these recent years. Clients at home and abroad are showing interest in our solutions,' said Zhang during the ongoing 2021 World Artificial Intelligence Conference in Shanghai on Wednesday.



Chinese company opens wind farm in Kazakhstan

With Central Asia's largest wind power project, the Zhanatas 100-megawatt wind farm in Kazakhstan, beginning full operations on June 20 after its last turbine was connected to the power grid, its operator, State Power Investment Corp, is further expanding its global presence.

The company is one of China's top five power producers.

With the largest installed capacity of any project of its kind in Central Asia, the wind power project is expected to provide South Kazakhstan with 350 gigawatt-hours of clean power each year, equivalent to demand from one million households, it said.

With a total of 40 wind turbines, the project is expected to save roughly 110,000 metric tons of standard coal annually and significantly reduce greenhouse gas emissions, which plays an important demonstration role for Kazakhstan's environmental protection.

China has contributed significantly to the development of renewable energy in Kazakhstan. Two-thirds of the 1,500 MW new renewable energy capacity in the country was built with the help of Chinese partners over the past four years.

This is also one of the latest renewable energy projects with SPIC as an operator that was put into operation in the market outside China. By the end of May, SPIC's total power generation capacity abroad exceeded 6.1 GW, with clean energy like hydropower, wind power, photovoltaics and related fields like energy storage accounting for 70 percent of the total.

Power generation capacity under construction overseas reached 2.16 GW. The company has a presence in 46 countries and regions, 37 of which are participating in the Belt and Road Initiative, it said.



Mainland company signs COVID-19 vaccine sales deals with Taiwan enterprises

SHANGHAI - A Chinese mainland company has signed agreements with Taiwan enterprises and a foundation on COVID-19 vaccine sales, according to an announcement the company released Sunday.

A subsidiary of Shanghai-based Fosun Pharmaceutical Group Co. Ltd. will sell 10 million doses of mRNA COVID-19 vaccines to Taiwan Semiconductor Manufacturing Co., Ltd., Hon Hai Precision Industry Co., Ltd., and Yonglin Charity Foundation, according to the announcement.

In March 2020, Fosun inked an agreement with German company BioNTech for the research and development of mRNA vaccines and the exclusive commercial rights and interests on the Chinese mainland and in Hong Kong, Macao and Taiwan.

Since Taiwan's epidemic outbreak in May, Fosun has made it clear that it is willing to provide the vaccines to Taiwan compatriots, but the Democratic Progressive Party authority did not approve negotiations for purchase until late June.

Zhu Fenglian, spokesperson for the Taiwan Affairs Office of the State Council, has said cites, counties, non-governmental institutions and enterprises on the island which are willing to buy the vaccines can negotiate purchase in accordance with business rules.



Sportswear brand Anta seeks up to 25% compound annual growth

Anta, the sportswear brand of the Xiamen, Fujian province-based Anta Group, aims to reach compound annual growth rate in retail sales of the next five years between 18 to 25 percent through efforts that include winning generation Z consumers and boosting digitalization, its top executives said on Thursday.

Speaking of its five-year strategic targets and a 24-month acceleration plan, Anta said annual growth of online retail sales will exceed 30 percent, with online business taking up 40 percent of total retail sales by 2025.

In five years, the median-priced sportswear brand is expected to raise its high-end product proportion through developing cutting-edge technology to keep up with consumption upgrades and diversified demands from younger consumers. The company is investing 4 billion yuan in research and development in five years.



Internet companies fined in anti-monopoly cases

The State Administration for Market Regulation on Wednesday imposed a penalty of 500,000 yuan ($77,384.9) each on companies involved with cases violating the anti-monopoly law. The total fine for the 22 cases is 11 million yuan.

Companies involved with the 22 cases include tech giants Alibaba, Tencent and According to the Anti-Monopoly Law of China, the top regulator found these cases related to illegal concentration of business operators in the internet field after investigation. These cases do not have the effect of exclusion and restriction of competition, the regulator said.


Fund to pick up 17% equity in Suning

Shares of Co, a prominent retailer and e-commerce major, surged on the A-share market on the Shenzhen Stock Exchange on Monday after it announced it agreed to sell a 16.96 percent stake in its listed firm to a fund, or a sort of consortium with some State-owned investors, Alibaba Group and other corporate investors.

Intraday, Suning hit the daily upper limit of 10 percent and closed there at 6.15 yuan (95 cents) despite its forecast of major losses for the first half of this year.

Jiangsu Xinxin Retail Innovation Fund II will pick up the nearly 17 percent stake in Suning.

The effective date of the stake sale, and the amount involved, are yet to be determined.


Xiaomi grants equity incentive to core employees

Chinese tech company Xiaomi granted over one hundred core employees a 10-year equity incentive of about 120 million shares, Xiaomi's board announced on Monday.

A total of 119,650,000 award shares were granted to 122 receivers, who are technology specialists, middle and senior management and participants in the New 10-year Entrepreneur Program.

Each award winner received about HK$25.45 million ($3.27 million), as the closing price of the shares was HK$25.95 per share on the date of grant of the awards, making the total amount HK$3.11 billion.

The award shares will vest between April 1, 2022 and April 1, 2030, the company said in their announcement on the Hong Kong Stock Exchange on Tuesday.

The company launched the New 10-year Entrepreneur Program, which continuously selects a hundred core management personnel and rewards them with returns like those of early entrepreneurs, on Aug 16, 2020.

The program aims to encourage employees to create value for the company with entrepreneurial attitudes, and participants should recognize the company's mission, vision and value.

As early as July 2, Xiaomi granted 3,904 selected employees 70 million shares, aiming to award outstanding young engineers, fresh graduates and core employees, according to the company.



Sinopec's carbon capture project on

China Petroleum and Chemical Corp, the world's largest refiner by volume, which is known as Sinopec Group, started construction work on the country's first million-ton-level carbon capture, utilization and storage, or CCUS, project in East China's Shandong province on Monday.

The project is being executed by two of Sinopec's subsidiaries-Qilu Petrochemical Co and Shengli Oilfield Co. Operations will start by the end of this year.

The CCUS project will capture 10.68 million metric tons of carbon dioxide from Sinopec's Qilu refinery, and will enhance oil recovery during the next 15 years, and also help enhance oil production by around 2.97 million tons, Sinopec said.

It is expected to become the country's largest CCUS whole industry chain demonstration base. Besides, the project will help China to honor its pledge to peak carbon emissions by 2030 and achieve carbon neutrality by 2060.


【Virgin Galactic】

Billionaires makes trip out of this world

The first of three billionaires planning commercial space voyages took flight on Sunday as Richard Branson rose more than 50 miles above the New Mexico desert aboard his Virgin Galactic rocket plane, safely returning in the vehicle’s first flight to space with a full crew.

Branson, 70, and five crewmates from his space-tourism company reached an altitude of 53.5 miles (86 kilometers) over the New Mexico desert — enough to experience three to four minutes of weightlessness — and then glided home to a runway landing.

He was joined by two company pilots and three Virgin Galactic crewmates on the launch from Spaceport America, near Truth or Consequences, New Mexico.

Two other billionaires — Jeff Bezos and Elon Musk, the latter of whom attended Sunday’s launch — also are set to kickstart commercial space voyages for ordinary people who want to travel out of this world.

“Congratulations on the flight,” Bezos said on Instagram. “Can’t wait to join the club!”

Space industry executives and future customers also were on hand to witness the livestreamed event.

Reaching its peak altitude at about 46,000 feet, the rocket plane was released from the mothership and fell away as the crew ignited its rocket, sending it up at supersonic speed.

At the apex of the climb with the rocket shut down, the crew then experienced a few minutes of microgravity, before the spaceplane shifted into re-entry mode and began a gliding descent. The entire flight, from takeoff to landing, lasted about an hour.



Andy Jassy officially takes over as Amazon CEO from Jeff Bezos

Jeff Bezos, who has served as the CEO of Amazon since founding the company exactly 27 years ago on July 5th, 1994, has officially stepped down from the role. Andy Jassy is now listed as the company’s CEO on its investor relations website, after previously having run Amazon Web Services since 2003, while Bezos is listed as Executive Chair. The July 5th handover date was previously announced in a shareholder meeting in May.

It’s an important moment for Amazon, which has had the same CEO for the entirety of its existence. Under Bezos’ leadership, the company survived the dot-com bubble bursting in the late 90s to become one of the world’s most prominent technology companies. Amazon currently dominates online commerce in the US and parts of Europe, and serves as a backbone to much of the modern web thanks to Amazon Web Services.



Petronas reaches ten-year LNG supply deal with CNOOC

Petronas LNG (PLL), a subsidiary of Malaysia’s oil and gas company Petronas, has signed a deal valued at around $7bn to supply LNG to China National Offshore Oil Corporation’s (CNOOC) subsidiary CNOOC Gas and Power Trading & Marketing.

The ten-year deal involves the supply of 2.2 million tonnes per annum (MTPA) that is indexed to a combination of the Brent and Alberta Energy Company (AECO) indices.

Additionally, it includes the supply of low greenhouse gas (GHG) emission LNG from LNG Canada, which is due to be commissioned in the middle of this decade.


ExxonMobil selects TechnipFMC and Halliburton for Payara project

ExxonMobil has selected UK-based TechnipFMC and Halliburton to provide the fibre optic solution for the $9bn Payara field development project offshore Guyana.

TechnipFMC provides optical connectivity from the topside to the completions while Halliburton offers the fibre optic sensing technology and analysis that would support reservoir diagnostics.

This collaboration is expected to help operators accelerate full-field subsea fibre optic sensing, design, and execution.


Lukoil to acquire stake worth $435m in Area 4 project offshore Mexico

Russia’s oil company Lukoil has agreed to acquire a 50% operatorship stake in the Area 4 project in Mexican shallow waters for $435m.

The deal also includes expenditures incurred on the project this year as of the transaction closure date.

The stake to be acquired by the Russian firm corresponds to that of Fieldwood Energy, which entered bankruptcy last year.

Made up of two blocks spanning 58km² in total, the Area 4 project is being implemented under a 25-year production sharing agreement.

This agreement was signed in 2016 by a consortium of Petrobal and US-based Fieldwood Energy. It provides the participants with the right to an extension for a maximum of ten years.



UNIQLO to close Japan's first global flagship store

It is reported that UNIQLO will close its Shinsaibashi store (Osaka City) on August 1. According to the report, the main reason for closing the store was the decrease in the number of tourists to Japan due to the spread of the epidemic. The store opened in October 2010 and is UNIQLO's first 'global flagship store' in Japan.



AstraZeneca's Proposed Acquisition Of Alexion Gets EU Clearance - Quick Facts

AstraZeneca (AZN.L,AZN) Tuesday said it has received clearance from the European Commission for the proposed acquisition of Alexion Pharmaceuticals, Inc.

The clearance follows competition clearances in the United States, Japan and other countries globally.

Regulatory clearance in the UK is pending and remains a requirement to complete the deal.

In December 2020, AstraZeneca agreed to buy Alexion for $175 per share in cash and stock, valuing the Boston-based company at $39 billion. Shareholders of both companies supported the acquisition by their votes on May 11, 2021.


Pfizer seeks approval for Covid vaccine booster dose

Pfizer has announced it is developing a potential booster shot to increase efficacy of its Covid-19 vaccine as the delta variant spreads across the U.S. NBC News medical contributor, Dr. Natalie Azar, explains what a booster could mean for those who have received the Pfizer shot and whether other vaccine makers could introduce a third shot as well.



Intel offers to spread $20bn chip factory investment across EU

U.S. chip maker Intel has lobbied several EU member states to invest in a new European $ 20 billion semiconductor factory planned to win block financial and political support for the project. It states that it may be distributed to.

The group’s chief executive officer, Pat Gelsinger, recently met and discussed with French President Emmanuel Macron and Italian Prime Minister Mario Draghi. Global tip shortage It has hit Europe and beyond.

His visit can make significant amounts of money available to achieve the new goal of doubling semiconductor production to 20% of the global market by 2030, including the manufacture of state-of-the-art chips. Following the signal from the EU.