Indian Prime Minister Modi launches the country’s longest bridge

The 9.15 km long Dhola-Sadiya bridge launched today by India Prime Minister, Narendra Modi,  will shorten the distance between Rupai on NH- 37 in Assam to Meka/Roing on NH-52 in Arunachal Pradesh by 165 KM and reduce travel time from between the two places from six hours to just one hour.
At the launch of India’s longest bridge, Modi said Dhola-Sadiya bridge opens the door for economic development in the eastern and north-eastern parts of the country.
He said the enhanced connectivity between the North-East and other parts of the country continues to be a priority for his government and good connectivity in the North-East would also link the region with the economy of South-East Asia.
The bridge has been named after renowned Indian musician and poet Bhupen Hazarika who died in 2011.
Minister of Road Transport & Highways and Shipping Shri Nitin Gadkari revealed there were also highways and inland waterways projects currently being implemented in the North Eastern states.
He said there were major highway of about 3000 kms projects  in the eight North Eastern states under construction.
The occasion also marked three year anniversary of Modi’s rule in the country.


SA’s plan to boost investment in underdeveloped regions

South African Government wants to accelerate economic development in the country's underdeveloped areas by attracting investors to these regions.
The R42 million Babelegi Industrial Park project expected to be launched in Hammanskraal next week is one of the projects under the Revitalisation of Industrial Parks Programme which is aimed at attracting investment.

The Babelegi Industrial Park boasts about 261 units available for leasing and 188 occupied by firms operating in textiles, engineering, construction, light manufacturing, warehousing and distribution.

The Department of Trade and Industry Minister Rob Davies said the objective of the programme was to also create jobs in manufacturing and related sectors, the Citizen newspaper reported.

“The dti has forged strategic partnerships for the implementation of the programme on a national scale working with the provinces, their agencies as well as municipalities,” Davies was quoted as saying by the newspaper.

“In the case of Babelegi, the department is working with the North West Development Corporation, who are also the owners of the park. The City of Tshwane has also played a strategic role in ensuring the smooth implementation of the programme,” he said.

Investment banks want to boost stakes in China JVs

January 10, 2017
Wu Yiyao and Li Xiang in Shanghai
Displayed with permission from China Daily

Morgan Stanley and UBS Group AG have reportedly engaged in discussions about increasing their holdings in their China securities business.

Morgan Stanley and UBS Group AG have reportedly engaged in discussions about increasing their holdings in their China securities business, reflecting growing confidence in joint ventures in the Chinese mainland, according to a Bloomberg report.

A source familiar with the matter told China Daily that Morgan Stanley would raise its stake to 49 percent, the maximum allowed under current regulations. The source said the plan is still subject to regulatory approval.

Currently, Morgan Stanley holds 33.3 percent in its China joint venture Morgan Stanley Huaxin Securities Co.

UBS responded in an email to China Daily, saying that the bank has been holding talks since last year with several shareholders about buying their stakes in its mainland securities joint venture.

UBS holds 24.99 percent in its China joint venture UBS Securities China.

“The talks are still progressing,” the response said, without commenting on the reports that the Zurich-based bank wants to increase its holding to 49 percent.

Axel Weber, chairman of the board of directors of UBS Group AG, said the bank has continuing plans to increase its onshore presence in China.

“We have around 670 people in our onshore business in China and will be doubling the headcount over the coming years,” he said.

“Our JV has been working very well for us. We want to be part of China’s success story as it opens its financial markets. It shows our commitment to our Chinese partners and the long-term engagement plan that UBS has in China.”

China raised the cap for foreign firms ownership in their joint ventures from 33 percent to 49 percent in 2012.