General Electric on Thursday announced plans to invest close to $1bn in factories for the energy industry in Nigeria. Speaking at a ceremony in Abuja, GE chairman Jeff Immelt claimed it would create 2,300 jobs in the local economy and make Nigeria a regional manufacturing hub. Continue reading »
Huzzah. China’s economy is no longer slowing if fourth quarter GDP figure released on Friday is to be believed.
Q4 year-0n-year growth came in at 7.9 per cent, a hair above market expectations of 7.8 per cent and setting the stage for a good start to this year. However, the numbers tell us little about the durability of the rebound. Nor do they offer much in way of how the recovery will take shape.
On this front, General Electric’s fourth quarter results throw up some interesting insights. Continue reading »
Half way into first quarter earnings season in the US and one trend is already becoming apparent – the extent to which US Inc is being propped up by emerging markets.
Kimberly-Clark, maker of Huggies diapers (nappies) and Kleenex tissues, on Friday became the latest US corporate to sing the praises of EMs – where strong sales growth has helped the consumer goods company offset weaknesses in its core US market. Continue reading »
Central Asia is mainly known for its abundant hydrocarbon reserves – but some countries in the region are already turning their attention to wind resources to produce cleaner, renewable energy.
Mongolia has set an ambitious goal to become central Asia’s renewable energy champion even as foreign investors compete for access to its huge coal mines. Strong winds gusting across the empty steppe could eventually be harnessed to produce about one quarter of the country’s energy needs. Continue reading »