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
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
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
NEW YORK, June 7 (Reuters) – General Electric Co is near a deal to sell its private equity lending unit to the Canada Pension Plan Investment Board (CPPIB), a person familiar with the matter said, as the conglomerate takes a big step in a planned massive pullback from its finance operations.
Read more at: http://www.reuters.com/article/2015/06/08/deals-privateequity-ge-canadapension-upd-idUSL1N0YT0EK20150608
JAKARTA Nov 4 (Reuters) – Indonesia could decide as early as next week to join a China-backed Asian infrastructure bank, the finance minister told Reuters, as Southeast Asia’s largest economy looks for extra funding to build much needed ports, railways and roads.
China’s $50-billion Asian Infrastructure Investment Bank (AIIB), launched last month, is seen by the United States as a challenge to the Western-dominated World Bank and Asian Development Bank.
Read more at: http://www.reuters.com/article/2014/11/04/indonesia-aiib-idUSL4N0SU4ID20141104
Oct 8 (Reuters) – The World Bank’s finance arm said on Wednesday it is boosting its investments in Indonesian companies by around a quarter to more than $1 billion for its fiscal year ended June 2015, mainly in the infrastructure and manufacturing sectors.
The International Finance Corporation (IFC) invested a record $804 million in Indonesia in the year ended June 2014, up 84 percent from the same period a year earlier.
Read more at: http://www.reuters.com/article/2014/10/08/worldbank-investment-idUSL3N0S31WH20141008
Mining the oil sands is a difficult business, but it’s one of the biggest oil resources left in the world. Tapping into this resource can be an awfully dirty process. Now, though, General Electric CEO Jeff Immelt, a proven business leader with close relationships with Wall Street, Silicon Valley, and Capitol Hill, is trying to find a way to improve oil sands production by reducing its carbon footprint.
Read more at: http://www.fool.com/investing/general/2014/07/20/general-electrics-ceo-plans-to-save-a-vital-indust.aspx
In an inteview with Corporate Dossier, GE’s Jeffrey Immelt shares his views on what it takes to run one of the world’s most admired companies.
A gauge of consumer confidence in Indonesia has jumped to new highs as the country gears up for next month’s presidential election.
The ANZ Bank-Roy Morgan confidence index for May has found that a “super-majority” of 91 per cent of consumers expect good economic times over the next five years.
A record high of 85 per cent of Indonesians are positive about their financial situation for the next 12 months.
Read more at: http://www.abc.net.au/news/2014-06-12/indonesia-consumer-confidence-increases-ahead-of-poll/5517328
LONDON, Jun 10, 2014 (GLOBE NEWSWIRE via COMTEX)
In response to growing demand from property investors for insurance cover that is compliant with Islamic law, Willis Group Holdings WSH -0.06% , the global risk adviser, insurance and reinsurance broker, has launched the UK’s first Shariah compliant commercial real estate insurance.
Read more at: http://www.marketwatch.com/story/willis-launches-the-uks-first-shariah-compliant-real-estate-insurance-solution-2014-06-10?reflink=MW_news_stmp