Category Archives: World Economy

#bloomberg: World’s Top #Nickel Producer, #indonesia, Sets Out End-to-End Battery Ambition

Indonesia laid down its plans to have a complete battery production line onshore, with a state-owned holding firm to be set up by June.

The country has drafted an “end-to-end development” plan that would see four state firms supplying nickel ore, processing nickel sulfate and cobalt sulfate, and then producing cathodes and batteries, Agus Tjahajana, who heads the task force on electric-vehicle development, said in a Thursday seminar.

Resource-rich Indonesia, home to a quarter of the world’s nickel reserves, has set its sights on moving up the supply chain to become a global hub for battery-making. The surge in demand for batteries, used to power everything from mobile phones to electric vehicles, has become a tailwind for Southeast Asia’s largest economy as it seeks a way out of a recession.

Top Battery Makers Discuss $20 Billion Indonesia EV Plans (1)

Read more at: https://www.bloomberg.com/news/articles/2020-10-14/top-battery-makers-in-talks-over-20-billion-indonesia-ev-plans

#Bloomberg: The Metal That Worries #Tesla Most Is Getting Much Cheaper

Nickel tumbled after a major Chinese producer’s unexpected plan to add supply eased concerns about a structural deficit for the material that Elon Musk has said is the biggest concern for Tesla Inc. batteries.

Nickel is critical to the world’s clean-energy transition.

Tsingshan Holding Group Co., the world’s top stainless steel producer, will soon start supplying nickel matte to Chinese battery material producers and plans to expand its nickel investments in Indonesia. Matte is an intermediate product made from concentrate that can be further processed into battery-grade chemicals.

Read more at: https://www.bloomberg.com/news/articles/2021-03-04/nickel-slumps-as-key-producer-s-supply-plans-ease-deficit-fears

#Bloomberg: Climate Is Next Race for Global Supremacy, Bank of America Says

Put aside the trade and technology wars. The next race for global political and economic supremacy will focus on climate.

That’s according to Bank of America Corp.s’ research group, which said climate change will be this decade’s most important theme, just as technology underpinned economic growth during the past decade. China has spent twice as much as the U.S. on climate action, said Haim Israel, the bank’s head of global thematic investing research, in a report Monday.

“We believe climate strategies offer a route to global supremacy,” he said. “Whether through regulation, limits on exports, tariffs or significant investments, we believe the U.S. and China will do whatever it takes to take the lead on climate action.”

The economic impact of climate change could reach $69 trillion this century, and investments in the energy transition need to increase to $4 trillion a year, Israel said. That will lead to more than $100 billion a year in research and development.

Bank of America estimates that the potential market capitalization for companies tackling climate to be about $6 trillion across things like renewables, electric vehicles, and environmental, social and governance. China dominates EVs and batteries, while Europe excels in renewables, the report says.

Read more at: https://www.bloomberg.com/news/articles/2021-02-08/climate-seen-as-next-race-for-global-supremacy-bofa-says

Central bank reserves policy pushes rouble into line with exporters’ forecasts

Cars are parked outside the headquarters of the Bank of Russia in Moscow April 30, 2015. REUTERS/Sergei Karpukhin

Bank of Russia in Moscow April 30, 2015

The Russian central bank’s plan to buy foreign currency to build up its reserves has moved the rouble back towards levels assumed by the country’s largest exporters after a spike in its value earlier this year.

Read more at: http://www.reuters.com/article/2015/06/12/us-russia-cenbank-exporters-idUSKBN0OS0XJ20150612

Indonesia’s $326b Retail Market Still Has Strong Appeal, Index Shows

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Jakarta. Indonesia achieved its highest-ever ranking in an index released by global management consultancy A.T. Kearney that measures retail investment worldwide, as retailers seek to expand in the country to tap the burgeoning middle-income population.

Read more at: http://thejakartaglobe.beritasatu.com/business/indonesias-326b-retail-market-still-strong-appeal-index-shows/

GE wins deal worth up to $2 billion for engines for Taiwan, others

The logo of U.S. conglomerate General Electric is pictured at the company's site in Belfort, April 27, 2014. REUTERS/Vincent Kessler

WASHINGTON General Electric Co has won a five-year contract valued at up to $2 billion to supply helicopter engines to the government of Taiwan and support a number of U.S. military services, the Defense Department said on Friday.

Read more at: http://www.reuters.com/article/2015/05/08/us-generalelectric-taiwan-idUSKBN0NT2DY20150508

US Companies Eying More Than $1b Investment in Indonesia

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Jakarta. A delegation of top executives from 10 major US companies arrived in Jakarta on Monday, as they seek to forge stronger business relationships in Indonesia and are collectively considering more than $1 billion in new investment over the next three to five years.

US-Asean Business council, the organizer of the visit, said in a statement on Monday that the envoy is scheduled to meet government officials and business leaders in Indonesia — including President Joko Widodo; the Coordinating Minister for Economic Affairs Sofyan Djlail; and chairman of the Indonesian Investment Coordination Board (BKPM) Franky Sibarani.

Read more at: http://thejakartaglobe.beritasatu.com/business/us-companies-eying-1b-investment-indonesia/

IMF predicts India will hit 7.5 % growth, overtake China

The International Monetary Fund on Tuesday forecast India’s growth to strengthen from 7.2 per cent in 2014 to 7.5 per cent in both 2015 and 2016, overtaking China’s growth — for the first time since 1999 — that it projected will slow down to 6.8 per cent.

Read more at: http://www.thehindu.com/business/Economy/india-to-clock-75-growth-in-201516-overtake-china-imf/article7102146.ece

Indonesia Trade Surplus Rises to $1.13 Billion in March – NASDAQ.com

JAKARTA–Indonesia’s trade surplus increased to $1.13 billion in March from $738 million in February as exports rose faster than imports from a month earlier, the official statistics agency said Wednesday.

The median forecast of 10 economists polled by the Wall Street Journal was for a surplus of $582 million.

Read more at: Indonesia Trade Surplus Rises to $1.13 Billion in March – NASDAQ.com.

Pratt & Whitney Increases Capacity by Signing $16 Billion in Supplier Long-term Agreements

HARTFORD, Conn., Oct. 2, 2014 /PRNewswire/ — At its semi-annual Partner and Supplier Forum, Pratt & Whitney, a United Technologies Corp. company announced it has signed an additional $6 billion in long-term agreements since May. In total, Pratt & Whitney has signed more than 135 agreements with a projected spend of $16 billion to support the company’s expected production increase. The agreements, which are with key product suppliers from around the world, will help the company increase capacity as it prepares to more than double engine production over the next decade.

Read more at: https://finance.yahoo.com/news/pratt-whitney-increases-capacity-signing-190000354.html

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