Nuclear companies take a step closer to joining forces


Nuclear companies take a step closer to joining forces
  1. Nuclear companies take a step closer to joining forces
    china.org.cn
    China moved one step closer to merging two of its nuclear power developers, as the country drives through consolidation in many of its State-owned enterprises, including the railways, shipping, nonferrous metals, construction materials and steel…
    Business

Technicians control an automatic welding operation of a nuclear reactor at the Ningde nuclear power plant in Fujian province. [Photo/Xinhua] 

China moved one step closer to merging two of its nuclear power developers, as the country drives through consolidation in many of its State-owned enterprises, including the railways, shipping, nonferrous metals, construction materials and steel sectors.

The Shanghai-listed units of China National Nuclear Corp, a holding company for reactor design and technology, and China Nuclear Engineering Corporation Group, a company that focuses on construction, said in regulatory filings on Monday that a strategic reorganization of the two nuclear giants is underway.

The units said the reorganization requires regulatory approval, but does not involve major assets of the listed companies and would not affect normal operations.

Joseph Jacobelli, a senior analyst of Asian utilities and infrastructure at Bloomberg Intelligence, said the nuclear sector plays a significant role in the country's advanced manufacturing exports, and the merger means not only streamlining the SOEs, but also helping China's nuclear companies better export their technology to the global market.

He said the combination would be a joint force with a better share of the international market.

Jacobelli added that the plan is to boost internal efficiencies in the country's nuclear sector and external competitiveness.

China suspended approving new nuclear power plants after Japan's Fukushima nuclear disaster in 2011. However, nuclear power generation in recent years, especially in the first two months of the year, continued to see sharp growth.

Jacobelli said China's nuclear energy developers are believed to be commissioning many more reactors during the 13th Five-Year Plan (2016-20), because nuclear power is a key source of clean energy along with hydropower.

Installed nuclear capacity more than doubled to 27.17 gigawatts in the 12th Five-Year Plan (2011-15) and is expected to double again by 2020 to 58 GW.

Being the world's fastest-growing nuclear market, China said it would further cut industrial overcapacity and introduce market-based reform, in an attempt to accelerate…

  1. German environmental lobby sues motor authority over VW scandal

    Channelnewsasia.com - Business
    03.24 / 10:21 www.channelnewsasia.com
    German environmental group Deutsche Umwelthilfe (DUH) has filed a suit against German motor authority KBA, accusing it of failing to act robustly enough over Volkswagen's diesel emissions…
  2. Smartphone maker Samsung backs away from planned split

    Channelnewsasia.com - Business
    03.24 / 09:25 www.channelnewsasia.com
    The world's biggest smartphone maker Samsung, assailed by a shambolic recall and embroiled in South Korea's wide-ranging corruption scandal, on Friday backed away from a planned corporate…
  3. Exclusive: HSBC to boost China staff by up to 1,000 in 2017, mostly in Pearl River Delta

    Channelnewsasia.com - Business
    03.24 / 08:56 www.channelnewsasia.com
    HSBC plans to add as many as 1,000 new employees to its Chinese retail banking and wealth management arm this year, the business's regional head said, most of them in the Pearl River Delta, the heart of the bank's growth strategy in…
  4. Develop our intellectual capacity for growth

    Jamaicaobserver.com - Business
    03.24 / 08:47 jamaicaobserver.com
    Last week I made the point that the most important asset that Jamaica has is its three million residents, and that it is the underutilisation of this asset that has caused us to attain average growth of a mere 0.8 per cent per annum for the past 40 years. The fact is that our three million residents are also our most neglected, abused, and underutilised…
  5. When second place feels just like first

    Jamaicaobserver.com - Business
    03.24 / 08:47 jamaicaobserver.com
    It might be a squeeze to get it in but, perhaps for the first time, Gordon ‘Butch’ Stewart’s trophy room, already bursting at the seams, will accommodate a second place win in Britain’s ultra prestigious The Travel Marketing Awards TTMAs) presented last week in…
  6. ING to maintain top tier bonus system for another five years

    Dutchnews.nl - Business
    03.24 / 08:17 dutchnews.nl
    Financial services group ING said it will continue its bonus programme for the top 1% of its staff who…
  7. IMF says Grenada records near four per cent economic growth

    Jamaicaobserver.com - Business
    03.24 / 07:43 jamaicaobserver.com
    ST GEORGE’S, Grenada (CMC) – Grenada’s performance during the last phase of the International Monetary Fund (IMF) Extended Credit Facility (ECF) supported home-grown programme has been strong with the island recording economic growth of just under four per cent last year, the IMF said…
  8. The Caribbean is virgin territory for mobile money — Wehby

    Jamaicaobserver.com - Business
    03.24 / 07:43 jamaicaobserver.com
    With the Caribbean having low levels of penetration for mobile money products, GraceKennedy Money Services Ltd (GKMS) is still mulling over the next market it will choose to launch its digital currency product, GK…
  9. Beet sugar, Brexit threaten cane sugar

    Jamaicaobserver.com - Business
    03.24 / 07:43 jamaicaobserver.com
    A recent article by Bloomberg is predicting that European demand for cane sugar exports from the Caribbean, including Jamaica, could soon be on the decline as the continent reverts to beet…
  10. Naturally Almond milk to be produced by Mussons

    Jamaicaobserver.com - Business
    03.24 / 07:43 jamaicaobserver.com
    US–based manufacturing company JEC Aseptics has inked a deal with the Musson Group of Companies for the manufacture and distribution of almond milk…
  11. Banking groups can buy up to 50 per cent of shares in each other ­— BOJ

    Jamaicaobserver.com - Business
    03.24 / 07:43 jamaicaobserver.com
    Maurene Simms, Deputy Governor, Financial Institutions Supervisory Division at the Bank of Jamaica (BOJ), indicated this week that significant holdings by a group which holds deposit-taking licences in another is permissible within…
  12. 12 Chinese cities' GDP reach 1 trln yuan in 2016

    China.org.cn - Business
    03.24 / 07:30 www.china.org.cn
    Twelve Chinese cities saw their GDP reach 1 trillion yuan (about US$145.02 billion) in 2016, as data compiled by the newspaper, 21st Century Business Herald…
  13. Chinese dairy stocks crash 90% in Hong Kong

    Channelnewsasia.com - Business
    03.24 / 07:27 www.channelnewsasia.com
    Shares in a Hong Kong-listed Chinese dairy crashed more than 90 percent on Thursday, in one of the city's biggest sell-offs that wiped billions from its market…
  14. Chinese buyers shift interest in Canadian properties

    China.org.cn - Business
    03.24 / 07:00 www.china.org.cn
    Fewer Chinese prospective buyers are considering Vancouver properties in the Canadian province of British Columbia (B.C.), following its implementation eight months ago of a 15-percent tax on foreign residential real estate…
  15. Southern cities beat northern region in GDP growth rate

    China.org.cn - Business
    03.24 / 06:29 www.china.org.cn
    China's regional GDP data recorded uneven growth last year, with the southern region posting faster growth rate than northern region, according to the 21st Century Economic…
  16. Singapore's manufacturing output up 12.6% in February

    Channelnewsasia.com - Business
    03.24 / 05:47 www.channelnewsasia.com
    The growth was boosted by the electronics cluster, which grew 39.8 per cent year-on-year last month, EDB says. …
  17. Top-tier cities contribute 40% to China's income tax

    China.org.cn - Business
    03.24 / 05:40 www.china.org.cn
    China's personal income tax broke 1.009 trillion yuan ($146 billion) in 2016, up 17.1 percent from a year earlier, with four top-tier cities contributing about 40 percent of the total, according to the Ministry of…
  18. How a border tax could divide Boeing and its suppliers

    Channelnewsasia.com - Business
    03.24 / 05:35 www.channelnewsasia.com
    A U.S. tax overhaul proposed by Republican leaders in Congress would deepen divisions between big manufacturers like Boeing Co and the thousands of smaller companies that supply them, according to suppliers and tax and trade…
  19. All drill, no frack: US shale leaves thousands of wells unfinished

    Channelnewsasia.com - Business
    03.24 / 05:35 www.channelnewsasia.com
    U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the country – a sign that output may not rise as swiftly as drilling activity would i…
  20. Public feedback wanted on annual wage guidelines: NWC

    Channelnewsasia.com - Business
    03.24 / 04:08 www.channelnewsasia.com
    The tripartite body wants to hear the public’s views about what could be included in the annual wage recommendations, as well as other wage-related issues, it s…