Category Archives: World Economy

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.

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US Companies Eying More Than $1b Investment in Indonesia


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.

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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.

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Indonesia Trade Surplus Rises to $1.13 Billion in March –

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 –

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.

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Successful policy implementation to make India $ 4.5 trillion economy

NEW DELHI: The present government’s effort to expedite major reforms and their successful implementation could push India’s gross domestic product (GDP) to over $ 4.5 trillion by FY20, a Dun & Bradstreet report said today.

According to the global business information, knowledge and insight provider, India is likely to achieve an average growth rate of around 7.5 per cent during FY15-FY20.



South African stocks at record highs, led by miners

JOHANNESBURG, July 3 (Reuters) – South Africa’s main stock indices inched to record highs on Thursday, tracking an upbeat tone in major overseas markets, with mining shares adding the most points as metal prices advanced.

Bourse and mining heavyweight Anglo American gained 2.66 percent to 279.65 rand and rival BHP Billiton was up 1.54 percent at 367.21 rand.


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Indonesia economy in the spotlight

Indonesia’s central bank meets on Thursday, its first since the start of the presidential election campaign.

An interest rate move is not expected, but the spotlight is on the outlook for South East Asia’s biggest economy – which is key to the government’s political fortunes.

In the first three months of the year, growth was its slowest since 2009, mainly due to a ban on mineral exports and successive rate rises.

Arjuna Mahendran is an Asia specialist and the Chief Investment officer at Emirates National Bank of Dubai. He explains why it’s unlikely the central bank will raise rates.


Qatar’s Glencore Kingmaker Breaks Exile in Deutsche Deal

Sheikh Hamad bin Jassim bin Jabr Al Thani, who played a key role in Glencore International Plc’s takeover of Xstrata Plc, is returning to dealmaking a year after his ouster as prime minister and head of Qatar’s sovereign wealth fund.

Sheikh Hamad is injecting 1.75 billion euros ($2.4 billion) into Deutsche Bank AG through his Paramount Holdings Services Ltd. investment vehicle, the Frankfurt-based bank said May 18. That follows an offer by his Al Mirqab Capital SPC vehicle for Jersey-based Heritage Oil Plc. less than three weeks earlier.

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Siemens seen making formal Alstom bid as early as this week

Germany’s Siemens is working on a formal asset-swap offer for Alstom’s power business that could come as early as this week and see France take a stake in a resulting rail-focused French group, sources close to the talks told Reuters.

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